Document:

exv10w1

Exhibit 10.1

EXECUTION COPY

CUSIP No. 902693AC4

U.S. $300,000,000

CREDIT AGREEMENT

Dated as of May 25, 2011

Among

UGI UTILITIES, INC.

as Borrower

and

THE INITIAL LENDERS NAMED HEREIN

as Initial Lenders

and

PNC BANK, NATIONAL ASSOCIATION

as Administrative Agent

and

CITIZENS BANK OF PENNSYLVANIA

as Syndication Agent

PNC CAPITAL MARKETS LLC

and

RBS CITIZENS, N.A.

as Joint Lead Arrangers and Joint Bookrunners

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	ARTICLE I DEFINITIONS AND ACCOUNTING TERMS
	 	 	1	 
	 
	 	 	 	 
	Section 1.01 Certain Defined Terms
	 	 	1	 
	Section 1.02 Computation of Time Periods
	 	 	17	 
	Section 1.03 Accounting Terms
	 	 	17	 
	 
	 	 	 	 
	ARTICLE II AMOUNTS AND TERMS OF THE ADVANCES
	 	 	17	 
	 
	 	 	 	 
	Section 2.01 The Revolving Credit Advances
	 	 	17	 
	Section 2.02 Making the Revolving Credit Advances
	 	 	18	 
	Section 2.03 Swing Line Advances
	 	 	19	 
	Section 2.04 Letter of Credit Subfacility
	 	 	22	 
	Section 2.05 Fees
	 	 	29	 
	Section 2.06 Optional Termination or Reduction of the Commitments
	 	 	30	 
	Section 2.07 Repayment of Advances
	 	 	30	 
	Section 2.08 Interest on Revolving Credit Advances
	 	 	30	 
	Section 2.09 Interest Rate Determination
	 	 	31	 
	Section 2.10 Optional Conversion of Revolving Credit Advances
	 	 	32	 
	Section 2.11 Prepayments of Revolving Credit Advances
	 	 	32	 
	Section 2.12 Increased Costs
	 	 	33	 
	Section 2.13 Illegality
	 	 	34	 
	Section 2.14 Payments and Computations
	 	 	34	 
	Section 2.15 Taxes
	 	 	35	 
	Section 2.16 Sharing of Payments, Etc.
	 	 	38	 
	Section 2.17 Evidence of Debt
	 	 	38	 
	Section 2.18 Use of Proceeds
	 	 	39	 
	Section 2.19 Increase in the Aggregate Commitments
	 	 	39	 
	Section 2.20 Extension of Termination Date
	 	 	41	 
	Section 2.21 Defaulting Lenders
	 	 	42	 
	 
	 	 	 	 
	ARTICLE III CONDITIONS TO EFFECTIVENESS AND LENDING
	 	 	44	 
	 
	 	 	 	 
	Section 3.01 Conditions Precedent to Effectiveness
	 	 	44	 
	Section 3.02 Conditions Precedent to Each Revolving Credit Borrowing, Swing Line
Advance, Letter of Credit and Commitment Increase
	 	 	46	 
	Section 3.03 Determinations Under Section 3.01
	 	 	46	 
	 
	 	 	 	 
	ARTICLE IV REPRESENTATIONS AND WARRANTIES
	 	 	46	 
	 
	 	 	 	 
	Section 4.01 Representations and Warranties of the Borrower
	 	 	46	 
	 
	 	 	 	 
	ARTICLE V COVENANTS OF THE BORROWER
	 	 	48	 
	 
	 	 	 	 
	Section 5.01 Affirmative Covenants
	 	 	48	 
	Section 5.02 Negative Covenants
	 	 	51	 
	Section 5.03 Financial Covenant
	 	 	52	 

 

i

 

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	ARTICLE VI EVENTS OF DEFAULT
	 	 	52	 
	 
	 	 	 	 
	Section 6.01 Events of Default
	 	 	52	 
	 
	 	 	 	 
	ARTICLE VII THE AGENT
	 	 	55	 
	 
	 	 	 	 
	Section 7.01 Appointment and Authority
	 	 	55	 
	Section 7.02 Rights as a Lender
	 	 	55	 
	Section 7.03 Exculpatory Provisions
	 	 	56	 
	Section 7.04 Reliance by Agent
	 	 	57	 
	Section 7.05 Delegation of Duties
	 	 	57	 
	Section 7.06 Resignation of Agent
	 	 	57	 
	Section 7.07 Non-Reliance on Agent and Other Lenders
	 	 	58	 
	Section 7.08 No Reliance on Agent’s Customer Identification Program
	 	 	58	 
	Section 7.09 Indemnification
	 	 	59	 
	Section 7.10 No Other Duties, etc.
	 	 	59	 
	 
	 	 	 	 
	ARTICLE VIII MISCELLANEOUS
	 	 	59	 
	 
	 	 	 	 
	Section 8.01 Amendments, Etc.
	 	 	59	 
	Section 8.02 Notices, Etc.
	 	 	60	 
	Section 8.03 No Waiver; Remedies
	 	 	61	 
	Section 8.04 Costs and Expenses
	 	 	61	 
	Section 8.05 Right of Set off
	 	 	63	 
	Section 8.06 Binding Effect
	 	 	63	 
	Section 8.07 Assignments and Participations
	 	 	64	 
	Section 8.08 Confidentiality
	 	 	66	 
	Section 8.09 Governing Law
	 	 	66	 
	Section 8.10 Execution in Counterparts
	 	 	66	 
	Section 8.11 Jurisdiction, Etc.
	 	 	67	 
	Section 8.12 Patriot Act Notice
	 	 	67	 
	Section 8.13 Waiver of Jury Trial
	 	 	67	 

Schedules

	 	 	 	 	 
	Schedule I — List of Applicable Lending Offices
	 	 	 	 
	Schedule 3.01(h) —Credit Facility

	 	 	 	 
	Schedule 5.02(a) — Existing Liens

	 	 	 	 

Exhibits

	 	 	 	 	 
	Exhibit A-1

	 	—
	 	Form of Revolving Credit Note
	Exhibit A-2

	 	—
	 	Form of Swing Line Note
	Exhibit B-1

	 	—
	 	Form of Notice of Revolving Credit Borrowing
	Exhibit B-2

	 	—
	 	Form of Notice of Swing Line Borrowing
	Exhibit C

	 	—
	 	Form of Assignment and Assumption
	Exhibit D

	 	—
	 	Form of Opinion of Counsel for the Borrower

 

ii

 

CREDIT AGREEMENT

Dated as of May 25, 2011

UGI UTILITIES, INC., a Pennsylvania corporation (the “Borrower”), the banks, financial
institutions and other institutional lenders (the “Initial Lenders”) listed on the
signature pages hereof, PNC BANK, NATIONAL ASSOCIATION, as administrative agent (in such capacity,
the “Agent”) for the Lenders (as hereinafter defined), and CITIZENS BANK OF PENNSYLVANIA,
as syndication agent, agree as follows:

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

Section 1.01 Certain Defined Terms.
As used in this Agreement, the following terms shall have the following meanings (such
meanings to be equally applicable to both the singular and plural forms of the terms defined):

“Advance” means a Revolving Credit Advance or a Swing Line Advance.

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

“Agent” has the meaning specified in the Preamble.

“Agent’s Account” means the account of the Agent maintained by the Agent at its
office at PNC Firstside Center, 500 First Avenue, Pittsburgh, PA 15219, ABA 043 000 096;
Account Name: Wire Suspense- Agency Services; Account #13076-001-7005 and reference UGI
Utilities.

“Anti-Terrorism Laws” means any laws relating to terrorism or money laundering,
including Executive Order No. 13224, the USA Patriot Act, the laws comprising or
implementing the Bank Secrecy Act, and the laws administered by the United States Treasury
Department’s Office of Foreign Asset Control (as any of the foregoing laws may from time to
time be amended, renewed, extended, or replaced).

“Applicable Lending Office” means, with respect to each Lender, such Lender’s
Domestic Lending Office in the case of a Base Rate Advance and such Lender’s Eurodollar
Lending Office in the case of a Eurodollar Rate Advance.

 

 

“Applicable Margin” means, as of any date, for Base Rate Advances or Eurodollar
Rate Advances, a percentage per annum determined by reference to the Public Debt Rating in
effect on such date as set forth below:

	 	 	 	 	 	 	 	 	 
	Public Debt Rating	 	Applicable Margin for	 	 	Applicable Margin for	 
	S&P/Moody’s/Fitch	 	Base Rate Advances	 	 	Eurodollar Rate Advances	 
	Level 1

A/A2/A or above
	 	 	0	%	 	 	0.875	%
	Level 2

A-/A3/A-
	 	 	0	%	 	 	1.00	%
	Level 3

BBB+/Baa1/BBB+
	 	 	0.25	%	 	 	1.25	%
	Level 4

BBB/Baa2/BBB
	 	 	0.50	%	 	 	1.50	%
	Level 5

BBB-/Baa3/BBB-
	 	 	0.75	%	 	 	1.75	%
	Level 6

BB+/Ba1/BB+ or lower
	 	 	1.00	%	 	 	2. 00	%

“Applicable Commitment Fee Percentage” means, as of any date, a percentage per
annum determined by reference to the Public Debt Rating in effect on such date as set forth
below:

	 	 	 	 	 
	Public Debt Rating	 	Applicable	 
	S&P/Moody’s/Fitch	 	Percentage	 
	Level 1

A/A2/A or above
	 	 	0.10	%
	Level 2

A-/A3/A-
	 	 	0.125	%
	Level 3

BBB+/Baa1/BBB+
	 	 	0.15	%
	Level 4

BBB/Baa2/BBB
	 	 	0.175	%
	Level 5

BBB-/Baa3/BBB-
	 	 	0.20	%
	Level 6

BB+/Ba1/BB+ or lower
	 	 	0.25	%

“Assignment and Assumption” means an assignment and assumption entered into by
a Lender and an Eligible Assignee, and accepted by the Agent, in substantially the form of
Exhibit C hereto.

“Assuming Lender” has the meaning specified in Section 2.19(d).

“Assumption Agreement” has the meaning specified in Section 2.19(d)(ii).

“Auto-Extension Letter of Credit” has the meaning specified in Section 2.04(a).

 

2

 

“Base Rate” means, for any day, a fluctuating per annum rate of interest equal
to the highest of (a) the Federal Funds Open Rate plus 50 basis points (0.5%), (b)
the Prime Rate, and (c) the Daily LIBOR Rate plus 100 basis points (1.0%). Any
change in the Base Rate (or any component thereof) shall take effect at the opening of
business on the day such change occurs.

“Base Rate Advance” means a Revolving Credit Advance that bears interest as
provided in Section 2.08(a)(i).

“Borrower” has the meaning specified in the Preamble.

“Borrower Information” has the meaning specified in Section 8.08.

“Business Day” means a day of the year on which banks are not required or
authorized by law to close in Pittsburgh, Pennsylvania and, if the applicable Business Day
relates to any Eurodollar Rate Advances, on which dealings are carried on in the London
interbank market.

“CIP Regulations” has the meaning specified in Section 7.08.

“Commitment” means, as to any Lender, (a) the amount set forth opposite such
Lender’s name on the signature pages hereof, (b) if such Lender has become a Lender
hereunder pursuant to an Assumption Agreement, the amount set forth in such Assumption
Agreement or (c) if such Lender has entered into an Assignment and Assumption the amount set
forth for such Lender in the Register maintained by the Agent pursuant to Section 8.07(c),
as such amount may be reduced pursuant to Section 2.06 or increased pursuant to Section
2.19.

“Commitment Date” has the meaning specified in Section 2.19(b).

“Commitment Fees” has the meaning specified in Section 2.05(a).

“Commitment Increase” has the meaning specified in Section 2.19(a).

“Communications” has the meaning specified in Section 8.02(b).

“Confidential Information Memorandum” means the confidential information
memorandum dated April 2011, as supplemented by the Borrower on May 4, 2011, used by the
Agent in connection with the syndication of the Commitments.

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

“Consolidated Debt” means, with respect to the Borrower, at any date, the Debt
(other than Non-recourse Debt) of the Borrower and its Consolidated Subsidiaries, determined
on a consolidated basis as of such date.

“Consolidated Subsidiary” means, with respect to the Borrower, at any date, any
Subsidiary or other entity the accounts of which would be consolidated with those of the
Borrower in its consolidated financial statements if such statements were prepared as
of such date.

 

3

 

“Consolidated Total Capital” means, with respect to the Borrower, at any date,
the sum of (x) Consolidated Debt plus (y) consolidated stockholders’ equity of the Borrower
and its Consolidated Subsidiaries, in each case determined at such date; provided
that any accumulated other comprehensive income and loss and, without duplication, any
non-cash effects resulting from the application of Accounting Standards Codification 715
will be excluded.

“Convert”, “Conversion” and “Converted” each refers to a
conversion of Revolving Credit Advances of one Type into Revolving Credit Advances of the
other Type pursuant to Section 2.09 or 2.10.

“Daily LIBOR Rate” means, for any day, the rate per annum determined by the
Agent by dividing (x) the Published Rate by (y) a number equal to 1.00 minus the Eurodollar
Rate Reserve Percentage on such day.

“Debt” of any Person means, without duplication, (a) all indebtedness of such
Person for borrowed money, (b) all obligations of such Person for the deferred purchase
price of property or services (other than trade payables incurred in the ordinary course of
such Person’s business), (c) all obligations of such Person evidenced by notes, bonds,
debentures or other similar instruments, (d) all obligations of such Person created or
arising under any conditional sale or other title retention agreement with respect to
property acquired by such Person (even though the rights and remedies of the seller or
lender under such agreement in the event of default are limited to repossession or sale of
such property), (e) all obligations of such Person as lessee under leases that have been or
should be, in accordance with GAAP, recorded as capital leases, (f) all non-contingent
obligations of such Person in respect of acceptances, letters of credit or similar
extensions of credit, (g) all Debt of others referred to in clauses (a) through (f) above or
clause (h) below (collectively, “Guaranteed Debt”) guaranteed directly or indirectly
in any manner by such Person, or in effect guaranteed directly or indirectly by such Person
through an agreement (1) to pay or purchase such Guaranteed Debt or to advance or supply
funds for the payment or purchase of such Guaranteed Debt, (2) to purchase, sell or lease
(as lessee or lessor) property, or to purchase or sell services, primarily for the purpose
of enabling the debtor to make payment of such Guaranteed Debt or to assure the holder of
such Guaranteed Debt against loss, (3) to supply funds to or in any other manner invest in
the debtor (including any agreement to pay for property or services irrespective of whether
such property is received or such services are rendered) or (4) otherwise to assure a
creditor against loss, and (h) all Debt referred to in clauses (a) through (g) above
(including Guaranteed Debt) secured by (or for which the holder of such Debt has an existing
right, contingent or otherwise, to be secured by) any Lien on property (including, without
limitation, accounts and contract rights) owned by such Person, even though such Person has
not assumed or become liable for the payment of such Debt.

 

4

 

“Default” means any Event of Default or any event that would constitute an
Event of Default but for the requirement that notice be given or time elapse or both.

“Default Interest on Revolving Credit Advances and Other Amounts” has the
meaning specified in Section 2.08(b).

“Default Interest on Swing Line Advances” has the meaning specified in Section
2.03(e).

“Defaulting Lender” means any Lender that (a) has failed to fund any portion of
the Advances, participations with respect to Letters of Credit, or participations in Swing
Line Advances required to be funded by it hereunder within one Business Day of the date
required to be funded by it hereunder unless either the subject of a good faith dispute or
such failure has been cured and all interest accruing as a result of such failure has been
fully paid in accordance with the terms hereof, (b) has otherwise failed to pay over to the
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 unless such
failure has been cured and all interest accruing as a result of such failure has been fully
paid in accordance with the terms hereof, (c) has failed at any time to comply with the
provisions of Section 2.16 with respect to purchasing participations from the other Lenders,
whereby such Lender’s share of any payment received, whether by setoff or otherwise, is in
excess of its Ratable Share of such payments due and payable to all of the Lenders, or (d)
has since the date of this Agreement been deemed insolvent by an Official Body or become the
subject of an Insolvency Proceeding, or has a parent company that since the date of this
Agreement been deemed insolvent by an Official Body or become the subject of an Insolvency
Proceeding.

“Disclosed Litigation” has the meaning specified in Section 3.01(b).

“Domestic Lending Office” means, with respect to any Lender, the office of such
Lender specified as its “Domestic Lending Office” opposite its name on Schedule I
hereto or in the Assumption Agreement or the Assignment and Assumption pursuant to which it
became a Lender, or such other office of such Lender as such Lender may from time to time
specify to the Borrower and the Agent.

“Drawing Date” has the meaning specified in Section 2.04(c)(i).

“Effective Date” has the meaning specified in Section 3.01.

“Eligible Assignee” means (i) with the approval of the Agent and the Issuing
Lender, any Lender; (ii) with the approval of the Agent and the Issuing Lender, any
Affiliate of a Lender that is a commercial bank; and (iii) any other Person approved by the
Agent and the Issuing Lender and, unless an Event of Default has occurred and is continuing
at the time any assignment is effected in accordance with Section 8.07, the Borrower, each
such approval not to be unreasonably withheld or delayed; provided, however,
that neither the Borrower, any Defaulting Lender nor any Affiliate of the Borrower or a
Defaulting Lender shall qualify as an Eligible Assignee.

 

5

 

“Environmental Action” means any action, suit, demand, demand letter, claim,
notice of noncompliance or violation, notice of liability, consent order or consent
agreement relating in any way to any Environmental Law, Environmental Permit or
arising from alleged injury or threat of injury to health, safety or the environment by
any governmental or regulatory authority for enforcement, cleanup, removal, response,
remedial or other actions or damages or by any governmental or regulatory authority or any
third party for damages, contribution, indemnification, cost recovery, compensation or
injunctive relief.

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

“Environmental Permit” means any permit, approval, identification number,
license or other authorization required under any Environmental Law.

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

“ERISA Affiliate” means any Person that for purposes of Title IV of ERISA is a
member of the Borrower’s controlled group, or under common control with the Borrower, within
the meaning of Section 414 of the Internal Revenue Code.

“ERISA Event” means (a) (i) the occurrence of a reportable event, within the
meaning of Section 4043 of ERISA, with respect to any Plan unless the 30 day notice
requirement with respect to such event has been waived by the PBGC, or (ii) the requirements
of subsection (1) of Section 4043(b) of ERISA (without regard to subsection (2) of such
Section) are met with respect to a contributing sponsor, as defined in Section 4001(a)(13)
of ERISA, of a Plan, and an event described in paragraph (9), (10), (11), (12) or (13) of
Section 4043(c) of ERISA is reasonably expected to occur with respect to such Plan within
the following 30 days; (b) the application for a minimum funding waiver with respect to a
Plan; (c) the provision by the administrator of any Plan of a notice of intent to terminate
such Plan pursuant to Section 4041(a)(2) of ERISA (including any such notice with respect to
a plan amendment referred to in Section 4041(e) of ERISA); (d) the cessation of operations
at a facility of the Borrower or any ERISA Affiliate in the circumstances described in
Section 4062(e) of ERISA; (e) the withdrawal by the Borrower or any ERISA Affiliate from a
Multiple Employer Plan during a plan year for which it was a substantial employer, as
defined in Section 4001(a)(2) of ERISA; (f) the conditions for the imposition of a lien
under Section 302(f) of ERISA shall have been met with respect to any Plan; (g) the adoption
of an amendment to a Plan requiring the provision of security to such Plan pursuant to
Section 307 of ERISA; or (h) the institution by the PBGC of proceedings to terminate a Plan
pursuant to Section 4042 of ERISA, or the occurrence of any event or condition described in
Section 4042 of ERISA that constitutes grounds for the termination of, or the appointment of
a trustee to administer, a Plan.

 

6

 

“Eurodollar Lending Office” means, with respect to any Lender, the office of
such Lender specified as its “Eurodollar Lending Office” opposite its name on
Schedule I hereto or in the Assumption Agreement or the Assignment and Assumption pursuant
to which it became a Lender (or, if no such office is specified, its Domestic Lending
Office), or such other office of such Lender as such Lender may from time to time specify to
the Borrower and the Agent.

“Eurodollar Rate” means, with respect to each Eurodollar Rate Advance
comprising part of the same Revolving Credit Borrowing for any Interest Period, the interest
rate per annum determined by the Agent by dividing (the resulting quotient rounded upwards,
if necessary, to the nearest 1/100th of 1% per annum) (i) the rate which appears on the
Bloomberg Page BBAM1 (or on such other substitute Bloomberg page that displays rates at
which US dollar deposits are offered by leading banks in the London interbank deposit
market), or the rate which is quoted by another source selected by the Agent which has been
approved by the British Bankers’ Association as an authorized information vendor for the
purpose of displaying rates at which US dollar deposits are offered by leading banks in the
London interbank deposit market (for purposes of this definition, an “Alternate Source”), at
approximately 11:00 a.m., London time, two (2) Business Days prior to the commencement of
such Interest Period as the London interbank offered rate for U.S. dollars for an amount
comparable to such Revolving Credit Borrowing and having a borrowing date and a maturity
comparable to such Interest Period (or if there shall at any time, for any reason, no longer
exist a Bloomberg Page BBAM1 (or any substitute page) or any Alternate Source, a comparable
replacement rate determined by the Agent at such time (which determination shall be
conclusive absent manifest error)), by (ii) a number equal to 1.00 minus the Eurodollar Rate
Reserve Percentage. The Eurodollar Rate may also be expressed by the following formula:

	 	 	 	 
	Eurodollar Rate =

	 	London interbank offered rates quoted by Bloomberg

or appropriate successor as shown on Bloomberg Page BBAM1	 
	 

	1.00 - Eurodollar Rate Reserve Percentage	 

The Eurodollar Rate shall be adjusted with respect to any Eurodollar Rate Advance that
is outstanding on the effective date of any change in the Eurodollar Rate Reserve Percentage
as of such effective date. The Agent shall give prompt notice to the Borrower of the
Eurodollar Rate as determined or adjusted in accordance herewith, which determination shall
be conclusive absent manifest error.

“Eurodollar Rate Advance” means a Revolving Credit Advance that bears interest
as provided in Section 2.08(a)(ii).

“Eurodollar Rate Reserve Percentage” means as of any day the maximum percentage
in effect on such day, as prescribed by the Board of Governors of the Federal Reserve System
(or any successor) for determining the reserve requirements (including supplemental,
marginal and emergency reserve requirements) with respect to eurocurrency funding (currently
referred to as “Eurocurrency Liabilities”) maintained by a member bank of the Federal
Reserve System.

 

7

 

“Events of Default” has the meaning specified in Section 6.01.

“Excluded Taxes” has the meaning specified in Section 2.15(a).

“Existing Letter of Credit” means the letter of credit issued by Wells Fargo
Bank, N.A. on or about June 9, 1998 (with an expiry date as of the Effective Date of
November 11, 2011), letter of credit number 519886 in the face amount of $2,000,000, issued
for the benefit of the Self Insurance Division Bureau of Workers Compensation and
outstanding on the Effective Date.

“FATCA” means Section 1471 through 1474 of the Internal Revenue Code.

“Federal Funds Rate” for any day, means the rate per annum (based on a year of
360 days and actual days elapsed and rounded upward to the nearest 1/100 of 1%) announced by
the Federal Reserve Bank of New York (or any successor) on such day as being the weighted
average of the rates on overnight federal funds transactions arranged by federal funds
brokers on the previous trading day, as computed and announced by such Federal Reserve Bank
(or any successor) in substantially the same manner as such Federal Reserve Bank computes
and announces the weighted average it refers to as the “Federal Funds Effective Rate” as of
the date of this Agreement; provided, if such Federal Reserve Bank (or its
successor) does not announce such rate on any day, the “Federal Funds Rate” for such day
shall be the Federal Funds Rate for the last day on which such rate was announced.

“Federal Funds Open Rate” for any day means the rate per annum (based on a year
of 360 days and actual days elapsed) which is the daily federal funds open rate as quoted by
ICAP North America, Inc. (or any successor) as set forth on the Bloomberg Screen BTMM for
that day opposite the caption “OPEN” (or on such other substitute Bloomberg Screen that
displays such rate), or as set forth on such other recognized electronic source used for the
purpose of displaying such rate as selected by the Agent (for purposes of this definition,
an “Alternate Source”) (or if such rate for such day does not appear on the Bloomberg Screen
BTMM (or any substitute screen) or on any Alternate Source, or if there shall at any time,
for any reason, no longer exist a Bloomberg Screen BTMM (or any substitute screen) or any
Alternate Source, a comparable replacement rate determined by the Agent at such time (which
determination shall be conclusive absent manifest error); provided however, that if such day
is not a Business Day, the Federal Funds Open Rate for such day shall be the “open” rate on
the immediately preceding Business Day. If and when the Federal Funds Open Rate changes,
the rate of interest hereunder will change automatically without notice to the Borrower,
effective on the date of any such change.

“Fee Letter” means the letter dated April 8, 2011, signed by the Borrower, the
Agent, and PNC Capital Markets LLC, as a joint lead arranger and joint bookrunner.

 

8

 

“Fitch” means Fitch, Inc.

“Foreign Lender” has the meaning specified in Section 2.15(e).

“GAAP” means generally accepted accounting principles in the United States as
in effect from time to time, applied on a basis consistent (except for changes concurred in
by the Borrower’s independent public accountants) with the most recent audited consolidated
financial statements of the Borrower and its Consolidated Subsidiaries delivered to the
Lenders.

“Hazardous Materials” means (a) gasoline, petroleum and petroleum products,
byproducts or breakdown products, radioactive materials, asbestos containing materials,
polychlorinated biphenyls, radon gas and urea-formaldehyde insulation and (b) any other
chemicals, materials or substances designated, classified or regulated as hazardous or toxic
or as a pollutant or contaminant under any Environmental Law.

“Hedge Agreements” means interest rate swap, cap or collar agreements, interest
rate future or option contracts, currency swap agreements, currency future or option
contracts, commodity swap agreements or option agreements, commodity future agreements,
equity or equity index swap agreements, foreign exchange transaction agreements, floor
transaction agreements, cap transaction agreements, collar transaction agreements and other
similar agreements or any combination of the foregoing agreements.

“ICC” has the meaning specified in Section 8.09.

“Increase Date” has the meaning specified in Section 2.19(a).

“Increasing Lender” has the meaning specified in Section 2.19(b).

“Indemnified Costs” has the meaning specified in Section 7.09.

“Indemnified Party” has the meaning specified in Section 8.04(b).

“Initial Lenders” has the meaning specified in the Preamble.

“Insolvency Proceeding” means, with respect to any Person, (a) a case, action
or proceeding with respect to such Person (i) before any court or any other Official Body
under any bankruptcy, insolvency, reorganization or other similar Law now or hereafter in
effect, or (ii) for the appointment of a receiver, liquidator, assignee, custodian, trustee,
sequestrator, conservator (or similar official) of such Person or otherwise relating to the
liquidation, dissolution, winding-up or relief of such Person, or (b) any general assignment
for the benefit of creditors, composition, marshaling of assets for creditors, or other,
similar arrangement in respect of such Person’s creditors generally or any substantial
portion of its creditors; undertaken under any law.

 

9

 

“Interest Period” means, for each Eurodollar Rate Advance comprising part of
the same Revolving Credit Borrowing, the period commencing on the date of such Eurodollar
Rate Advance or the date of the Conversion of any Base Rate Advance into such Eurodollar
Rate Advance and ending on the last day of the period selected by the Borrower pursuant to
the provisions below and, thereafter, with respect to Eurodollar Rate Advances, each
subsequent period commencing on the last day of the immediately
preceding Interest Period and ending on the last day of the period selected by the
Borrower pursuant to the provisions below. The duration of each such Interest Period shall
be two weeks or one, two, three or six months, as specified by the Borrower in the Notice of
Revolving Credit Borrowing received by the Agent no later than 1:00 p.m. (Pittsburgh,
Pennsylvania time) on the third Business Day prior to the first day of such Interest Period;
provided, however, that:

(a) the Borrower may not select any Interest Period that ends after the
Termination Date;

(b) Interest Periods commencing on the same date for Eurodollar Rate Advances
comprising part of the same Revolving Credit Borrowing shall be of the same
duration;

(c) whenever the last day of any Interest Period would otherwise occur on a day
other than a Business Day, the last day of such Interest Period shall be extended to
occur on the next succeeding Business Day, provided, however, that, if such
extension would cause the last day of such Interest Period to occur in the next
following calendar month, the last day of such Interest Period shall occur on the
next preceding Business Day; and

(d) whenever the first day of any Interest Period occurs on a day of an initial
calendar month for which there is no numerically corresponding day in the calendar
month that succeeds such initial calendar month by the number of months equal to the
number of months in such Interest Period, such Interest Period shall end on the last
Business Day of such succeeding calendar month.

“Internal Revenue Code” means the Internal Revenue Code of 1986, as amended
from time to time, and the regulations promulgated and rulings issued thereunder.

“ISP98” has the meaning specified in Section 8.09.

“Issuing Lender” means (a) with respect to the Existing Letter of Credit only,
Wells Fargo Bank, N.A. and (b) with respect to Letters of Credit issued on or after the
Closing Date, PNC, in its individual capacity as issuer of Letters of Credit hereunder, and
any other Lender that becomes the Issuing Lender in accordance with the last paragraph of
Section 7.06. References herein to “the Issuing Lender” shall be deemed to be references to
PNC (or any successor issuer of Letters of Credit) and not to Wells Fargo Bank, N.A.

“Law” means any law (including common law), constitution, statute, treaty,
regulation, rule, ordinance, opinion, release, ruling, order, injunction, writ, decree,
judgment, authorization or approval of, or award by or settlement agreement with, any
Official Body.

 

10

 

“Lenders” means the Initial Lenders, and each Assuming Lender that shall become
a party hereto pursuant to Section 2.19 and each Person that shall become a party hereto
pursuant to Section 8.07.

“Letter of Credit” has the meaning specified in Section 2.04(a).

“Letter of Credit Borrowing” has the meaning specified in Section 2.04(c)(iii).

“Letter of Credit Collateral Account” has the meaning specified in Section
2.21(b)(iv).

“Letter of Credit Fee” has the meaning specified in Section 2.04(b).

“Letter of Credit Obligations” means, as of any date of determination, the
aggregate amount available to be drawn under all outstanding Letters of Credit on such date
plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such
date.

“Letter of Credit Sublimit” has the meaning specified in Section 2.04(a).

“Lien” means any lien, security interest or other charge or encumbrance of any
kind, or any other type of preferential arrangement, including, without limitation, the lien
or retained security title of a conditional vendor and any easement, right of way or other
encumbrance on title to real property.

“Loan Documents” means this Agreement, the Fee Letter, the Notes and any other
instruments, certificates or documents delivered in connection herewith or therewith, in
each case as amended, supplemented or modified from time to time.

“Material Adverse Change” means any material adverse change in the business,
financial condition or operations of the Borrower and its Subsidiaries taken as a whole.

“Material Adverse Effect” means a material adverse effect on (a) the business,
financial condition or operations of the Borrower and its Subsidiaries taken as a whole, (b)
the rights and remedies of the Agent or any Lender under this Agreement or any Note or (c)
the ability of the Borrower to perform its obligations under this Agreement or any Note.

“Material Subsidiary” means, with respect to the Borrower, at any time, any
Subsidiary of the Borrower that is a “significant subsidiary” (as such term is defined in
Regulation S-X, but treating all references therein to the “registrant” as references to the
Borrower).

“Moody’s” means Moody’s Investors Service, Inc.

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

 

11

 

“Multiple Employer Plan” means a single employer plan, as defined in Section
4001(a)(15) of ERISA, that (a) is maintained for employees of the Borrower or any
ERISA Affiliate and at least one Person other than the Borrower and the ERISA
Affiliates or (b) was so maintained and in respect of which the Borrower or any ERISA
Affiliate could have liability under Section 4064 or 4069 of ERISA in the event such plan
has been or were to be terminated.

“Non-Defaulting Lender” means, at any time, any Lender that is not a Defaulting
Lender at such time.

“Non-recourse Debt” of any Person means Debt secured by a Lien on one or more
assets or rights to receive revenue of such Person where the rights and remedies of the
holder of such Debt in respect of such Debt are non-recourse to such Person and do not
extend to any other assets or rights to receive revenue of such Person and, if such Person
is organized under the laws of or doing business in the United States or any political
subdivision thereof or therein, as to which such holder has effectively waived (or
subordinated in favor of the Lenders) such holder’s right to make the election provided
under 11 U.S.C. §1111(b)(1)(A).

“Note” means a Revolving Credit Note or the Swing Line Note.

“Notice” has the meaning specified in Section 8.02(c).

“Notice of Revolving Credit Borrowing” has the meaning specified in Section
2.02(a).

“Notice of Swing Line Borrowing” has the meaning specified in Section 2.03(b).

“Official Body” means the government of the United States of America 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).

“Order” has the meaning specified in Section 2.04(h).

“Other Taxes” has the meaning specified in Section 2.15(b).

“Participation Advance” has the meaning specified in Section 2.04(c)(iii).

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

 

12

 

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

“Permitted Liens” means such of the following as to which no enforcement,
collection, execution, levy or foreclosure proceeding shall have been commenced: (a) Liens
for taxes, assessments and governmental charges or levies to the extent not required
to be paid under Section 5.01(b) hereof; (b) Liens imposed by law, such as
materialmen’s, mechanics’, carriers’, workmen’s and repairmen’s Liens and other similar
Liens arising in the ordinary course of business securing obligations that are not overdue
for a period of more than 60 days; (c) pledges or deposits to secure obligations under
workers’ compensation laws or similar legislation or to secure public or statutory
obligations or contracts (other than for the repayment of borrowed money); and (d)
easements, rights of way and other encumbrances on title to real property that do not render
title to the property encumbered thereby unmarketable or materially adversely affect the use
of such property for its present purposes.

“Person” means an individual, partnership, corporation (including a business
trust), joint stock company, trust, unincorporated association, joint venture, limited
liability company or other entity, or a government or any political subdivision or agency
thereof.

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

“Platform” has the meaning specified in Section 8.02(b).

“PNC” means PNC Bank, National Association, its successors and assigns.

“Prime Rate” means the rate of interest per annum publicly announced from time
to time by PNC as its prime rate in effect at its principal office in Pittsburgh,
Pennsylvania, which rate may not be the lowest rate then being charged to commercial
borrowers by PNC; each change in the Prime Rate shall be effective on the date such change
is publicly announced as effective.

“Public Debt Rating” means, as of any date, the current rating announced by any
of S&P, Moody’s or Fitch, as the case may be, for any class of non-credit enhanced long term
senior unsecured debt issued by the Borrower or, if any such rating agency shall have issued
more than one such rating, the lowest such rating issued by such rating agency. For
purposes of the foregoing: (a) if only one of S&P, Moody’s and Fitch shall have in effect a
Public Debt Rating, the Applicable Margin and the Applicable Commitment Fee Percentage shall
be determined (i) in the case of an S&P or Moody’s rating, by reference to the available
rating or (ii) in the case of a Fitch rating, the applicable level will be deemed to be one
level below the available rating; (b) if only S&P and Moody’s shall have in effect a Public
Debt Rating, the Applicable Margin and the Applicable Commitment Fee Percentage shall be
determined by reference to the highest available rating, unless such ratings differ by two
or more levels in which case the applicable level be deemed to be one level below the higher
of such levels; (c) if only Moody’s and Fitch shall have in effect a Public Debt Rating, the
Applicable Margin and the Applicable Commitment Fee Percentage shall be determined by
reference to the Moody’s rating, unless such ratings differ by two or more levels in which
case the applicable level will be deemed to be one level below the higher of such levels;
(d) if only S&P and Fitch shall have in effect a Public Debt Rating, the Applicable Margin
and the Applicable Commitment Fee Percentage shall be determined by reference to the S&P
rating, unless

 

13

 

such ratings differ by two or more levels in which case the applicable level
will be deemed to be one level below the higher of such levels; (e) if S&P, Moody’s and
Fitch each have in effect a Public Debt Rating, the Applicable Margin and the Applicable
Commitment Fee Percentage shall be (i) based upon the rating level of two such agencies, if
two such agencies have ratings in the same level or (ii) deemed to be one level below the
highest of such levels if the rating levels of the three agencies fall within three
different levels; (f) if none of S&P, Moody’s or Fitch shall have in effect a Public Debt
Rating, the Applicable Margin and the Applicable Commitment Fee Percentage will be set in
accordance with Level 6 under the definition of “Applicable Margin” or
“Applicable Commitment Fee Percentage”, as the case may be; (g) if any rating
established by S&P, Moody’s or Fitch shall be changed, such change shall be effective as of
the date on which such change is first announced publicly by the rating agency making such
change; and (h) if S&P, Moody’s or Fitch shall change the basis on which ratings are
established, each reference to the Public Debt Rating announced by S&P, Moody’s or Fitch, as
the case may be, shall refer to the then equivalent rating by S&P, Moody’s or Fitch, as the
case may be.

“Published Rate” means the rate of interest published each Business Day in The
Wall Street Journal “Money Rates” listing under the caption “London Interbank
Offered Rates” for a one month period (or, if no such rate is published therein for any
reason, then the Published Rate shall be the rate at which U.S. dollar deposits are offered
by leading banks in the London interbank deposit market for a one month period as published
in another publication selected by the Agent); provided that, with respect
to any day that is not a Business Day, the “Published Rate” shall be the Published Rate on
the immediately preceding Business Day.

“Ratable Share” means, at any time, with respect to any Lender, the proportion
that such Lender’s Commitment bears to the Commitments of all of the Lenders;
provided that, in the case of Section 2.21, when a Defaulting Lender shall exist,
Ratable Share shall mean the proportion that such Lender’s Commitment bears to the
Commitment of all of the Lenders other than Defaulting Lenders. If the Commitments have
terminated or expired, the Ratable Shares shall be determined based upon the Commitments
most recently in effect, giving effect to any assignments.

“Register” has the meaning specified in Section 8.07(c).

“Regulation S-X” means Regulation S-X of the U.S. Securities and Exchange
Commission pursuant to the Securities Exchange Act of 1934 (as amended from time to time).

“Reimbursement Obligation” shall have the meaning specified in Section
2.04(c)(i).

 

14

 

“Required Lenders” means Lenders, excluding any Defaulting Lenders, having a
majority of the sum of the aggregate amount of the Commitments of the Lenders (excluding any
Defaulting Lender) or, after the termination of the Commitments, a majority of the sum of
(a) the aggregate outstanding principal amount of the Revolving Credit Advances of the
Lenders (excluding any Defaulting Lender) and (b) the Ratable
Shares of the Lenders (excluding any Defaulting Lender) of the Letter of Credit
Obligations and the principal amount of the Swing Line Advances then outstanding.

“Responsible Officer” means, with respect to the Borrower, the Chief Executive
Officer, President, Chief Financial Officer, Treasurer or Assistant Treasurer of the
Borrower.

“Revolving Credit Advance” means an advance by a Lender to the Borrower as part
of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurodollar Rate
Advance (each of which shall be a “Type” of Revolving Credit Advance).

“Revolving Credit Borrowing” means a borrowing consisting of simultaneous
Revolving Credit Advances of the same Type made by the Lenders pursuant to Section 2.01.

“Revolving Credit Note” means a promissory note of the Borrower payable to the
order of any Lender, delivered pursuant to a request made under Section 2.17 in
substantially the form of Exhibit A-1 hereto, evidencing the aggregate indebtedness of the
Borrower to such Lender resulting from the Revolving Credit Advances made by such Lender.

“Revolving Facility Usage” means, at any time, the sum of the outstanding
principal amount of the Revolving Credit Advances, the outstanding principal amount of the
Swing Line Advances and the Letter of Credit Obligations.

“S&P” means Standard & Poor’s, a division of The McGraw-Hill Companies, Inc.

“SEC Reports” means periodic reports filed from time to time with the U.S.
Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934 (as
amended from time to time).

“Securities Certificate” has the meaning specified in Section 2.20.

“Single Employer Plan” means a single employer plan, as defined in Section
4001(a)(15) of ERISA, that (a) is maintained for employees of the Borrower or any ERISA
Affiliate and no Person other than the Borrower and the ERISA Affiliates or (b) was so
maintained and in respect of which the Borrower or any ERISA Affiliate could have liability
under Section 4069 of ERISA in the event such plan has been or were to be terminated.

 

15

 

“Subsidiary” of any Person means any corporation, partnership, joint venture,
limited liability company, trust or estate of which (or in which) more than 50% of (a) the
issued and outstanding capital stock having ordinary voting power to elect a majority of the
Board of Directors of such corporation (irrespective of whether at the time capital stock of
any other class or classes of such corporation shall or might have voting power upon the
occurrence of any contingency), (b) the interest in the capital or profits of such limited
liability company, partnership or joint venture or (c) the beneficial interest in such
trust or estate is at the time directly or indirectly owned or controlled by such
Person, by such Person and one or more of its other Subsidiaries or by one or more of such
Person’s other Subsidiaries.

“Swing Line Advance(s)” has the meaning specified in subsection 2.03(a).

“Swing Line Collateral Account” has the meaning specified in Section
2.21(b)(iii).

“Swing Line Commitment” means the commitment of the Swing Line Lender to make
Swing Line Advances pursuant to the provisions of Section 2.03 of this Agreement in an
aggregate amount at any one time outstanding not to exceed $30,000,000, as the same may be
changed from time to time in accordance with the provisions of this Agreement.

“Swing Line Lender” means PNC, and any successor thereto, or any other Lender
to which the Swing Line Commitment is assigned, in each case in its capacity as the lender
of Swing Line Advances.

“Swing Line Note” has the meaning specified in subsection 2.03(b).

“Swing Line Prepayment Date” has the meaning specified in subsection 2.03(c).

“Taxes” has the meaning specified in Section 2.15(a).

“Termination Date” means the earlier of (a) May 23, 2012, subject to the
extension thereof pursuant to Section 2.20, and (b) the date of termination in whole of the
Commitments pursuant to Section 2.06 or 6.01.

“Total Exposure” means, as to any Lender at any time, the sum of (a) the
aggregate principal amount of all Revolving Credit Advances made by such Lender then
outstanding, (b) such Lender’s Ratable Share multiplied by the aggregate Letter of Credit
Obligations at such time and (c) such Lender’s Ratable Share multiplied by the aggregate
principal amount of Swing Line Advances then outstanding.

“Trust Indenture Act” has the meaning specified in Section 7.02.

“UCP” has the meaning specified in Section 8.09.

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

 

16

 

“Withholding Agent” means the Borrower and the Agent.

Section 1.02 Computation of Time Periods. In this Agreement in the computation of periods of time from a specified date to a later
specified date, the word “from” means “from and including” and the words “to” and “until” each
mean “to but excluding”.

Section 1.03 Accounting Terms. All accounting terms not specifically defined herein shall be construed in accordance with
GAAP, provided that if the Borrower, by notice to the Agent, shall request an amendment to
any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP
or in the application thereof on the operation of such provision (or if the Agent or the Required
Lenders, by notice to the Borrower, shall request an amendment to any provision hereof for such
purpose), regardless of whether any such notice is given before or after such change in GAAP or in
the application thereof, then (a) the Agent, the Lenders and the Borrower shall negotiate in good
faith to amend such provision to preserve the original intent thereof in light of such change in
GAAP (subject to the approval of the Borrower and the Required Lenders) and (b) such provision
shall be interpreted on the basis of GAAP as in effect and applied immediately before such change
shall have become effective until such notice shall have been withdrawn or such provision amended
in accordance herewith, and the Borrower shall provide to the Agent and the Lender, when it
delivers its financial statements pursuant to any provision hereof, such reconciliation statements
as shall be reasonably requested by the Agent.

ARTICLE II

AMOUNTS AND TERMS OF THE ADVANCES

Section 2.01 The Revolving Credit Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make
Revolving Credit Advances to the Borrower from time to time on any Business Day during the period
from the Effective Date until the Termination Date in an aggregate amount not to exceed at any time
outstanding such Lender’s Commitment minus the sum of such Lender’s Ratable Share of (i) all Letter
of Credit Obligations then outstanding, and (ii) the principal amount of all Swing Line Advances
then outstanding; provided that no Revolving Credit Advances shall be made if, after giving
effect thereto and the simultaneous application of the proceeds thereof, the Total Exposure of all
Lenders would exceed the Commitments of all Lenders at such time. Each Revolving Credit Borrowing
comprised of Eurodollar Rate Advances shall be in an aggregate amount of $5,000,000 and each
Revolving Credit Borrowing comprised of Base Rate Advances shall be in an aggregate amount of
$1,000,000 or, in each case, an integral multiple of $1,000,000 in excess thereof and shall consist
of Revolving Credit Advances of the same Type made on the same day by the Lenders ratably according
to their respective Ratable Shares. Within the limits of each Lender’s Commitment, the Borrower
may borrow under this Section 2.01, prepay pursuant to Section 2.11 and reborrow under this Section
2.01.

 

17

 

Section 2.02 Making the Revolving Credit Advances. 

(a) Each Revolving Credit Borrowing shall be made on notice, given not later than (x) 1:00
p.m. (Pittsburgh, Pennsylvania time) on the third Business Day prior to the date of the proposed
Revolving Credit Borrowing in the case of a Revolving Credit Borrowing consisting of Eurodollar
Rate Advances or (y) 12:00 Noon (Pittsburgh, Pennsylvania time) on
the date of the proposed Revolving Credit Borrowing in the case of a Revolving Credit
Borrowing consisting of Base Rate Advances, by the Borrower to the Agent, which shall give to each
Lender prompt notice thereof by telecopier or other electronic means. Each such notice of a
Revolving Credit Borrowing (a “Notice of Revolving Credit Borrowing”) shall be by
telephone, confirmed immediately in writing, or telecopier or other electronic means (it being
understood that the Agent may rely on the authority of any individual making such telephone request
without the necessity of receipt of such written confirmation), in substantially the form of
Exhibit B-1 hereto, specifying therein the requested (i) date of such Revolving Credit Borrowing,
(ii) Type of Advances comprising such Revolving Credit Borrowing, (iii) aggregate amount of such
Revolving Credit Borrowing, and (iv) in the case of a Revolving Credit Borrowing consisting of
Eurodollar Rate Advances, initial Interest Period for each such Revolving Credit Advance. Each
Lender shall, before 2:00 p.m. (Pittsburgh, Pennsylvania time) on the date of such Revolving Credit
Borrowing make available for the account of its Applicable Lending Office to the Agent at the
Agent’s Account, in same day funds, such Lender’s Ratable Share of such Revolving Credit Borrowing.
After the Agent’s receipt of such funds and upon fulfillment of the applicable conditions set
forth in Article III, the Agent will make such funds available to the Borrower by transferring such
funds to an account designated by the Borrower no later than 4:00 p.m. (Pittsburgh, Pennsylvania
time) on the date of such Revolving Credit Borrowing.

(b) Anything in subsection (a) above to the contrary notwithstanding, (i) the Borrower may not
select Eurodollar Rate Advances for any Revolving Credit Borrowing if the aggregate amount of such
Revolving Credit Borrowing is less than $5,000,000 or if the obligation of the Lenders to make
Eurodollar Rate Advances shall then be suspended pursuant to Section 2.09 or 2.13 and (ii) the
Eurodollar Rate Advances may not be outstanding as part of more than ten separate Revolving Credit
Borrowings.

(c) Each Notice of Revolving Credit Borrowing shall be irrevocable and binding on the
Borrower. In the case of any Revolving Credit Borrowing that the related Notice of Revolving
Credit Borrowing specifies is to be comprised of Eurodollar Rate Advances, the Borrower shall
indemnify each Lender against any loss, cost or expense incurred by such Lender as a result of any
failure to fulfill on or before the date specified in such Notice of Revolving Credit Borrowing for
such Revolving Credit Borrowing the applicable conditions set forth in Article III, including,
without limitation, any loss (excluding loss of anticipated profits), cost or expense incurred by
reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to
fund the Revolving Credit Advance to be made by such Lender as part of such Revolving Credit
Borrowing when such Revolving Credit Advance, as a result of such failure, is not made on such
date.

 

18

 

(d) Unless the Agent shall have received notice from a Lender prior to the time of any
Revolving Credit Borrowing that such Lender will not make available to the Agent such Lender’s
Ratable Share of such Revolving Credit Borrowing, the Agent may assume that such Lender has made
such portion available to the Agent on the date of such Revolving Credit Borrowing in accordance
with subsection (a) of this Section 2.02 and the Agent may, in reliance upon such assumption, make
available to the Borrower on such date a corresponding amount. If and to the extent that such
Lender shall not have so made such Ratable Share available to the Agent, such Lender and the
Borrower severally agree to repay to the Agent forthwith such corresponding amount together with
interest thereon, for each day from the date such amount is
made available to the Borrower until the date such amount is repaid to the Agent, at (i) in
the case of the Borrower, the interest rate applicable at the time to Revolving Credit Advances
comprising such Revolving Credit Borrowing and (ii) in the case of such Lender, the Federal Funds
Rate. If the Borrower and such Lender shall pay such interest to the Agent for the same or an
overlapping period, the Agent shall promptly remit to the Borrower the amount of such interest paid
by the Borrower to the Agent for such period. If such Lender shall repay to the Agent such
corresponding amount, such amount so repaid shall constitute such Lender’s Revolving Credit Advance
as part of such Revolving Credit Borrowing for purposes of this Agreement. Any payment by the
Borrower shall be without prejudice to any claim the Borrower may have against the Lender that
shall have failed to make such payment to the Agent.

(e) The failure of any Lender to make the Revolving Credit Advance to be made by it as part of
any Revolving Credit Borrowing shall not relieve any other Lender of its obligation, if any,
hereunder to make its Revolving Credit Advance on the date of such Revolving Credit Borrowing, but
no Lender shall be responsible for the failure of any other Lender to make the Revolving Credit
Advance to be made by such other Lender on the date of any Revolving Credit Borrowing.

Section 2.03 Swing Line Advances.

(a) Subject to the terms and conditions hereof, and relying on the representations and
warranties herein set forth, the Swing Line Lender shall make swing line loans (the “Swing Line
Advances”) to the Borrower at any time or from time to time after the date hereof to, but not
including the Termination Date in an aggregate outstanding principal amount up to but not in excess
of the amount of the Swing Line Commitment as requested by the Borrower; provided, that,
(a) after giving effect to any amount requested, the Revolving Credit Advances outstanding shall
not exceed the Commitments of all of the Lenders and (b) the aggregate principal amount of all
outstanding Swing Line Advances (after giving effect to any amount requested), shall not exceed the
lesser of (i) the Commitments of all of the Lenders less the sum of all outstanding Revolving
Credit Advances and the Letter of Credit Obligations and (ii) the Swing Line Commitment. Within
the foregoing limits, the Borrower may prior to the Termination Date borrow, repay and reborrow
under the Swing Line Commitment, subject to and in accordance with the terms and limitations
hereof. The interest rate for a Swing Line Advance shall be the Daily LIBOR Rate plus the
Applicable Margin in effect from time to time for Eurodollar Rate Advances (or, if the Daily LIBOR
Rate is unavailable, the Base Rate plus the Applicable Margin in effect from time to time for Base
Rate Advances), and such interest shall be due and payable in arrears on the first Business Day of
each month.

 

19

 

(b) Each request for a Swing Line Advance (each a “Notice of Swing Line Borrowing”)
shall be in writing (or by telephone immediately confirmed in writing, it being understood that the
Swing Line Lender may rely on the authority of any individual making such telephonic request
without the necessity of receipt of such written confirmation) in substantially the form of Exhibit
B-2 hereto and received by the Swing Line Lender not later than 1:00 p.m. (Pittsburgh, Pennsylvania
time) on the Business Day such Swing Line Advance is to be made (or such later time as the Swing
Line Lender shall agree in its discretion), specifying in each case (i) the amount to be borrowed,
and (ii) the requested borrowing date. The request for such Swing Line Advance shall be
irrevocable. The Swing Line Lender shall, not later than 4:00 p.m.
(Pittsburgh, Pennsylvania time) on the date specified in the Borrower’s request for such Swing
Line Advance, make such Swing Line Advance by crediting the deposit account designated by the
Borrower in writing at the time of such request. Each Swing Line Advance shall be in an original
principal amount of $100,000 or in integral amounts of $100,000 in excess thereof. The obligation
of the Borrower to repay the Swing Line Advances may be evidenced by a promissory note of the
Borrower dated the date hereof, payable to the order of the Swing Line Lender in the principal
amount of the Swing Line Commitment and substantially in the form of Exhibit A-2 (as amended,
supplemented or otherwise modified from time to time, the “Swing Line Note”).

(c) The Borrower shall have the right at any time and from time to time to prepay the Swing
Line Advances, in whole or in part, without premium or penalty, upon prior written, facsimile or
telephonic notice to the Swing Line Lender given no later than 1:00 p.m. (Pittsburgh, Pennsylvania
time) on the date of any proposed prepayment (each such date, a “Swing Line Prepayment
Date”). Each notice of prepayment shall specify the Swing Line Advance to be prepaid and the
amount to be prepaid (which, except in the case of payment in full, shall be in the principal
amount of $100,000 or in integral multiples of $100,000 in excess thereof), shall be irrevocable
and shall commit the Borrower to prepay such amount on such date. All Swing Line Advances and
accrued interest thereon shall be payable on the Termination Date.

(d) If a Swing Line Advance has not been repaid within seven (7) Business Days of the date
that such Swing Line Advance was made, the Swing Line Lender shall notify the Agent and the Agent
shall notify each Lender thereof and of each Lender’s pro rata share (based on its Ratable Share)
thereof. Each Lender shall before 12:00 noon (Pittsburgh, Pennsylvania time) on the next Business
Day and whether or not one or more Events of Default shall exist (other than an Event of Default
under Section 6.01(e)) make available to the Agent, in immediately available funds, the amount of
its pro rata share (based on its Ratable Share) of the principal amount of such Swing Line Advance
outstanding. Upon such payment by a Lender, such Lender shall be deemed to have made a Revolving
Credit Advance to the Borrower, notwithstanding any failure of the Borrower to satisfy the
conditions in Section 3.02. The Agent shall use such funds to repay the principal amount of such
Swing Line Advance to the Swing Line Lender. The failure of any Lender to make available to the
Agent for the account of the Swing Line Lender a Revolving Credit Advance as provided in this
Section 2.03(d) shall be treated for all purposes in the same manner as the failure of a Lender to
make a Revolving Credit Advance under Section 2.02(d) and (e) and shall be subject
to the provisions of such Sections.

 

20

 

(e) Upon the occurrence and during the continuance of an Event of Default, the Agent may, and
upon the request of the Required Lenders shall, require the Borrower to pay interest (“Default
Interest on Swing Line Advances”) on (i) the unpaid principal amount of each Swing Line
Advance, payable on demand at a rate per annum equal at all times to 2% per annum above the Base
Rate plus the Applicable Margin in effect from time to time and (ii) to the fullest extent
permitted by law, the amount of any interest payable hereunder with respect to Swing Line Advances
that is not paid when due, payable on demand, at a rate per annum equal at all times to 2% per
annum above the Base Rate plus the Applicable Margin in effect from time to time, provided,
however, that following acceleration of the Advances pursuant to Section 6.01, Default
Interest on Swing Line Advances shall accrue and be payable hereunder whether or not previously
required by the Agent and shall be paid in full on demand.

(f) In the event that (i) the Borrower shall fail to repay the Swing Line Lender (A) the
outstanding Swing Line Advances together with accrued interest thereon on the Termination Date, (B)
the amount of any Swing Line Advance on any Swing Line Prepayment Date for such Swing Line Advance
or (C) any amounts required under Section 2.03(g), or (ii) an Event of Default shall occur under
Section 6.01(e), the Agent shall promptly notify each Lender of the unpaid amount of such Swing
Line Advance(s) (including accrued interest thereon) and of such Lender’s respective participation
therein in an amount equal to such Lender’s Ratable Share of such amount. Each Lender shall make
available to the Agent for payment to the Swing Line Lender an amount equal to its respective
participation therein (including without limitation its pro rata share of accrued but unpaid
interest thereon, in same day funds, at the office of the Agent specified in such notice. If such
notice is delivered by the Agent by 11:00 a.m. (Pittsburgh, Pennsylvania time), each Lender shall
make funds available to the Agent on that Business Day. If such notice is delivered after 11:00
a.m. (Pittsburgh, Pennsylvania time), each Lender shall make funds available to the Agent on the
next Business Day. In the event that any Lender fails to make available to the Agent the amount of
such Lender’s participation in such unpaid amount as provided herein, the Swing Line Lender shall
be entitled to recover such amount on demand from such Lender together with interest thereon at a
rate per annum equal to the Federal Funds Rate for each day during the period between the Business
Day such payment is due in accordance with the terms of this Section 2.03(f) and the date on which
such Lender makes available its participation in such unpaid amount. The failure of any Lender to
make available to the Agent its Ratable Share of any such unpaid amount shall not relieve any other
Lender of its obligations hereunder to make available to the Agent its Ratable Share of such unpaid
amount on the Business Day such payment is due in accordance with the terms of this Section
2.03(f). The Agent shall promptly distribute to each Lender which has paid all amounts payable by
it under this Section 2.03(f) with respect to the unpaid amount of any Swing Line Advance, such
Lender’s Ratable Share of all payments received by the Agent from the Borrower in repayment of such
Swing Line Advance when such payments are received; provided, however, that in the
event that any payment received by the Lenders shall be required to be returned by the Swing Line
Lender, any Lender receiving any portion of such payment shall be required to return to the Swing
Line Lender such portion thereof previously distributed to it. Notwithstanding anything to the
contrary herein, each Lender which has paid all amounts payable by it under this subsection 2.03(f)
shall have a direct right to repayment of such amounts from the Borrower subject to the procedures
for repaying Lenders set forth in this Section 2.03(f) and the provisions of Section 8.05.

(g) In the event the Commitments are terminated in accordance with the terms hereof, the Swing
Line Commitment shall also be terminated automatically. In the event the Borrower reduces the
aggregate Commitments to less than the Swing Line Commitment, the Swing Line Commitment shall
immediately be reduced to an amount equal to the aggregate Commitments. In the event the Borrower
reduces the aggregate Commitments to less than the outstanding principal amount of the Swing Line
Advances outstanding, the Borrower shall immediately repay the amount by which the outstanding
Swing Line Advances exceeds the Swing Line Commitment as so reduced plus accrued interest thereon.

 

21

 

(h) Each Lender acknowledges and agrees that, in making any Swing Line Advance, the Swing Line
Lender shall be entitled to rely, and shall not incur any liability for relying, upon the
representation and warranty of the Borrower deemed made pursuant to Section
3.02, unless, at least one Business Day prior to the time such Swing Line Advance was made,
the Required Lenders shall have notified the Swing Line Lender (with a copy to the Agent) in
writing that, as a result of one or more events or circumstances described in such notice, one or
more of the conditions precedent set forth in Section 3.02 would not be satisfied if such Swing
Line Advance were then made (it being understood and agreed that, in the event the Swing Line
Lender shall have received any such notice, it shall have no obligation to make any Swing Line
Advance until and unless it shall be satisfied in its sole discretion that the events and
circumstances described in such notice shall have been cured or otherwise shall have ceased to
exist). Each Revolving Lender further acknowledges and agrees that its obligation to acquire
participations in Swing Line Advances pursuant to this Section 2.03 is absolute and unconditional
and shall not be affected by any circumstance whatsoever, including the occurrence and continuance
of a Default or Event of Default or any reduction or termination of the Commitments, and that each
such payment shall be made without any offset, abatement, withholding or reduction whatsoever.

Section 2.04 Letter of Credit Subfacility.

(a) Issuance of Letters of Credit. The Borrower may at any time prior to the
Termination Date request the issuance of a letter of credit (together with the Existing Letter of
Credit, each a “Letter of Credit” and collectively, the “Letters of Credit”) on
behalf of itself or its Subsidiaries, or the amendment or extension of an existing Letter of
Credit, by delivering to the relevant Issuing Lender (with a copy to the Agent) a completed
application and agreement for letters of credit, or request for such amendment or extension, as
applicable, in such form as such Issuing Lender may specify from time to time by no later than
10:00 a.m. (Pittsburgh, Pennsylvania time) at least three (3) Business Days, or such shorter period
as may be agreed to by such Issuing Lender, in advance of the proposed date of issuance, amendment
or extension. Each Letter of Credit shall be a standby letter of credit and no commercial letter
of credit shall be issued hereunder. Promptly after receipt of any letter of credit application,
the relevant Issuing Lender shall confirm with the Agent (by telephone or in writing) that the
Agent has received a copy of such Letter of Credit application and if not, such Issuing Lender will
provide the Agent with a copy thereof. Unless the relevant Issuing Lender has received notice from
any Lender, the Agent, or the Borrower, at least one day prior to the requested date of issuance,
amendment or extension of the applicable Letter of Credit, that one or more applicable conditions
in Section 3.02 is not satisfied, then, subject to the terms and conditions hereof and in reliance
on the agreements of the other Lenders set forth in this Section 2.04, such Issuing Lender or any
of such Issuing Lender’s Affiliates will issue a Letter of Credit or agree to such amendment or
extension, provided that each Letter of Credit shall (A) have a maximum maturity of no greater than
twelve (12) months from the date of issuance, and (B) in no event expire later than five (5)
Business Days prior to the Termination Date and provided further that in no event shall (i) the
Letter of Credit Obligations exceed, at any one time, $100,000,000 (the “Letter of Credit
Sublimit”) or (ii) the Revolving Facility Usage exceed, at any one time, the Commitments.
Notwithstanding the foregoing, any Letter of Credit may contain customary automatic renewal
provisions agreed upon by the Borrower and the relevant Issuing Lender (each an “Auto-Extension
Letter of Credit”) pursuant to which the expiration date of such Auto-Extension Letter of
Credit shall automatically be extended for a period of up to 12 months (but not to a date later
than the date set forth in clause (B) above), subject to a right on the part of such Issuing Lender
to prevent any such renewal from occurring for

 

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one of the reasons set forth in this Section 2.04(a)
by giving
notice to the beneficiary in advance of any such renewal; provided that the
initial expiration date (or any subsequent expiration date) of each such Auto-Extension Letter of
Credit is not later than five (5) Business Days prior to the Termination Date. Unless otherwise
directed by the relevant Issuing Lender, the Borrower shall not be required to make a specific
request to such Issuing Lender for any extension of an Auto-Extension Letter of Credit. Once an
Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have authorized the
relevant Issuing Lender to permit the extension of such Letter of Credit at any time to an expiry
date not later than the date set forth in clause (B) above; provided, however, that an Issuing
Lender shall not permit any such extension if (I) such Issuing Lender 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, or (II) it has received notice (which may be by
telephone or in writing) on or before the day that is five Business Days before the date that
notice must be given to prevent an extension of such Letter of Credit from the Agent or any Lender
that one or more of the applicable conditions specified in Section 3.02 is not then satisfied and
directing such Issuing Lender not to permit such extension (it being understood and agreed that, in
the event an Issuing Lender shall have received any such notice, it shall have no obligation to
issue, amend, renew or extend any Letter of Credit until and unless it shall be satisfied in its
sole discretion that the events and circumstances described in such notice shall have been cured or
otherwise shall have ceased to exist). Each request by the Borrower for the issuance, amendment or
extension of a Letter of Credit shall be deemed to be a representation by the Borrower that it
shall be in compliance with this Section 2.04(a) and with Section 3.02 after giving effect
to the requested issuance, amendment or extension of such Letter of Credit. Promptly after its
delivery of any Letter of Credit or any amendment to a Letter of Credit to the beneficiary thereof,
the relevant Issuing Lender will also deliver to the Borrower and the Agent a true and complete
copy of such Letter of Credit or amendment.

(b) Letter of Credit Fees. The Borrower shall pay (i) to the Agent for the ratable
account of the Lenders a fee (the “Letter of Credit Fee”) equal to the Applicable Margin
for Revolving Credit Advances that are Eurodollar Rate Advances in effect from time to time and
(ii) to each Issuing Lender for its own account a fronting fee equal to 0.125% per annum with
respect to all Letters of Credit issued by such Issuing Bank (in each case under clauses (i) and
(ii) above computed on the basis of a year of 360 days and actual days elapsed), which fees shall
be computed on the daily average Letter of Credit Obligations and shall be payable quarterly in
arrears on or before the third Business Day following the last day of each March, June, September
and December following the date hereof following issuance of each Letter of Credit. The Borrower
shall also pay to each Issuing Lender for such Issuing Lender’s sole account such Issuing Lender’s
then in effect customary invoiced fees and administrative expenses payable with respect to the
Letters of Credit as such Issuing Lender may generally charge or incur from time to time in
connection with the issuance, maintenance, amendment (if any), assignment or transfer (if any),
negotiation, and administration of Letters of Credit.

 

23

 

(c) Disbursements, Reimbursement. Immediately upon the issuance of each Letter of
Credit (including, with respect to the Existing Letters of Credit, on the Closing Date), each
Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the
relevant Issuing Lender a participation in such Letter of Credit and each drawing thereunder in an
amount equal to such Lender’s Ratable Share of the maximum amount available to be drawn under such
Letter of Credit and the amount of such drawing, respectively.

(i) In the event of any request for a drawing under a Letter of Credit by the
beneficiary or transferee thereof, the relevant Issuing Lender will promptly notify the
Borrower and the Agent thereof. Provided that it shall have received such notice by 10:00
a.m. (Pittsburgh, Pennsylvania time) on the date that an amount is paid by an Issuing Lender
under any Letter of Credit (each such date, a “Drawing Date”), the Borrower shall
reimburse (such obligation to reimburse the Issuing Lenders shall sometimes be referred to
as a “Reimbursement Obligation”) such Issuing Lender by 2:00 p.m. (Pittsburgh,
Pennsylvania time) on such date by paying to the Agent for the account of such Issuing
Lender an amount equal to the amount so paid by such Issuing Lender, or if such notice has
not been received by the Borrower by 10:00 a.m. (Pittsburgh, Pennsylvania time) on the
Drawing Date, then the Borrower shall make such payment, with interest thereon from the
Drawing Date at the rate applicable to Base Rate Advances, not later than 2:00 p.m.
(Pittsburgh, Pennsylvania time) on the Business Day immediately following the date on which
it shall have received such notice. In the event the Borrower fails to reimburse an Issuing
Lender (through the Agent) for the full amount of any drawing under any Letter of Credit
when due (plus, to the extent applicable, interest thereon as provided above), the Agent
will promptly notify each Lender thereof, and the Borrower shall be deemed to have requested
that Base Rate Advances be made by the Lenders to be disbursed, if such notice is received
on or before 12:00 noon (Pittsburgh, Pennsylvania time) on a Business Day, not later than
2:00 p.m. (Pittsburgh, Pennsylvania time) on such Business Day and, otherwise, not later
than 2:00 p.m. (Pittsburgh, Pennsylvania time) on the next Business Day, subject to, in each
case, the amount of the unutilized portion of the Commitments and subject to the conditions
set forth in Section 3.02 other than any notice requirements. Any notice given by the Agent
or an Issuing Lender pursuant to this Section 2.04(c)(i) may be oral 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 2.04(c)(i) make available to
the Agent for the account of the relevant Issuing Lender an amount in immediately available
funds equal to its Ratable Share of the amount of the drawing, whereupon the participating
Lenders shall (subject to this Section 2.04(c)(ii)) each be deemed to have made a Base Rate
Advance to the Borrower in that amount. If any Lender so notified fails to make available
to the Agent for the account of the relevant Issuing Lender the amount of such Lender’s
Ratable Share of such amount by no later than 2:00 p.m. on the Drawing Date, then interest
shall accrue on such Lender’s obligation to make such payment, from the Drawing Date to the
date on which such Lender makes such payment (i) at a rate per annum equal to the Federal
Funds Rate during the first three (3) days following the Drawing Date and (ii) at a rate per
annum equal to the rate applicable to Base Rate Advances on and after the fourth day
following the Drawing Date. The Agent and the relevant Issuing Lender will promptly give
notice (as described in Section 2.04(c)(i) above) of the occurrence of the Drawing Date, but
failure of the Agent or any Issuing Lender to give any such notice on the Drawing Date or in
sufficient time to enable any Lender to effect such payment on such date shall not relieve
such Lender from its obligation under this Section 2.04(c)(ii).

 

24

 

(iii) With respect to any unreimbursed drawing that is not converted into a Base Rate
Advance to the Borrower in whole or in part as contemplated by Section 2.04(c)(i), because
of the Borrower’s failure to satisfy the conditions set forth in Section 3.02 other than any
notice requirements, or for any other reason, the Borrower shall be deemed to have incurred
from the relevant Issuing Lender a borrowing (each a “Letter of Credit Borrowing”)
in the amount of such drawing. Such Letter of Credit Borrowing shall be due and payable on
demand (together with interest) and shall bear interest at the rate per annum applicable to
the Base Rate Advances. Each Lender’s payment to the Agent for the account of the relevant
Issuing Lender pursuant to this Section 2.04(c) shall be deemed to be a payment in respect
of its participation in such Letter of Credit Borrowing (each a “Participation
Advance”) from such Lender in satisfaction of its participation obligation under this
Section 2.04(c).

(d) Repayment of Participation Advances.

(i) Upon (and only upon) receipt by the Agent for the account of the relevant Issuing
Lender of immediately available funds from the Borrower (x) in reimbursement of any payment
made by such Issuing Lender under the Letter of Credit with respect to which any Lender has
made a Participation Advance to the Agent, or (y) in payment of interest on such a payment
made by such Issuing Lender under such a Letter of Credit, the Agent on behalf of such
Issuing Lender will pay to each Lender, in the same funds as those received by the Agent,
the amount of such Lender’s Ratable Share of such funds, except the Agent shall retain for
the account of the relevant Issuing Lender the amount of the Ratable Share of such funds of
any Lender that did not make a Participation Advance in respect of such payment by such
Issuing Lender.

(ii) If the Agent is required at any time to return to the Borrower, or to a trustee,
receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion
of any payment made by the Borrower to the Agent for the account of an Issuing Lender
pursuant to this Section in reimbursement of a payment made under the Letter of Credit or
any interest or fee thereon, each Lender shall, on demand of the Agent, forthwith return to
the Agent for the account of the relevant Issuing Lender the amount of its Ratable Share of
any amounts so returned by the Agent plus interest thereon from the date such demand is made
to the date such amounts are returned by such Lender to the Agent, at a rate per annum equal
to the Federal Funds Rate in effect from time to time.

(e) Documentation. The Borrower agrees to be bound by the terms of each Issuing
Lender’s application and agreement for letters of credit and each Issuing Lender’s written
regulations and customary practices relating to letters of credit, though such interpretation may
be different from the Borrower’s. In the event of a conflict between such application or agreement
and this Agreement, this Agreement shall govern. It is understood and agreed that, except in the
case of gross negligence or willful misconduct, no Issuing Lender shall be liable for any error,
negligence and/or mistakes, whether of omission or commission, in following the Borrower’s
instructions or those contained in the Letters of Credit or any modifications, amendments or
supplements thereto.

 

25

 

(f) Determinations to Honor Drawing Requests. In determining whether to honor any
request for drawing under any Letter of Credit by the beneficiary thereof, an Issuing Lender shall
be responsible only to determine that the documents and certificates required to be delivered under
such Letter of Credit have been delivered and that they comply on their face with the requirements
of such Letter of Credit.

(g) Nature of Participation and Reimbursement Obligations. Each Lender’s obligation
in accordance with this Agreement to make the Revolving Credit Advances or Participation Advances,
as contemplated by Section 2.04(c), as a result of a drawing under a Letter of Credit, and the
obligation of the Borrower to reimburse the relevant Issuing Lender upon a draw under a Letter of
Credit, shall be absolute, unconditional and irrevocable, and shall be performed strictly in
accordance with the terms of this Section 2.04 under all circumstances, including the following
circumstances:

(i) any set-off, counterclaim, recoupment, defense or other right which such Lender may
have against any Issuing Lender or any of its Affiliates, the Borrower or any other Person
for any reason whatsoever, or which the Borrower may have against any Issuing Lender or any
of its Affiliates, any Lender or any other Person for any reason whatsoever;

(ii) the failure of the Borrower or any other Person to comply, in connection with a
Letter of Credit Borrowing, with the conditions set forth in Sections 2.01, 2.02 or 3.02 or
as otherwise set forth in this Agreement for the making of a Revolving Credit Advance, it
being acknowledged that such conditions are not required for the making of a Letter of
Credit Borrowing and the obligation of the Lenders to make Participation Advances under
Section 2.04(c);

(iii) any lack of validity or enforceability of any Letter of Credit;

(iv) any claim of breach of warranty that might be made by the Borrower or any Lender
against any beneficiary of a Letter of Credit, or the existence of any claim, set-off,
recoupment, counterclaim, crossclaim, defense or other right which the Borrower or any
Lender may have at any time against a beneficiary, successor beneficiary or any transferee
or assignee of any Letter of Credit or the proceeds thereof (or any Persons for whom any
such transferee may be acting), any Issuing Lender or any of its Affiliates or any Lender or
any other Person, whether in connection with this Agreement, the transactions contemplated
herein or any unrelated transaction (including any underlying transaction between the
Borrower or Subsidiaries of the Borrower and the beneficiary for which any Letter of Credit
was procured);

 

26

 

(v) the lack of power or authority of any signer of (or any defect in or forgery of any
signature or endorsement on) or the form of or lack of validity, sufficiency, accuracy,
enforceability or genuineness of any draft, demand, instrument, certificate or other
document presented under or in connection with any Letter of Credit, or any fraud or alleged
fraud in connection with any Letter of Credit, or the transport of any property or provision
of services relating to a Letter of Credit, in each case even if an Issuing Lender or any of
its Affiliates has been notified thereof;

(vi) payment by an Issuing Lender or any of its Affiliates under any Letter of Credit
against presentation of a demand, draft or certificate or other document which does not
comply with the terms of such Letter of Credit;

(vii) the solvency of, or any acts or omissions by, any beneficiary of any Letter of
Credit, or any other Person having a role in any transaction or obligation relating to a
Letter of Credit, or the existence, nature, quality, quantity, condition, value or other
characteristic of any property or services relating to a Letter of Credit;

(viii) any failure by an Issuing Lender or any of its Affiliates to issue any Letter of
Credit in the form requested by the Borrower, unless such Issuing Lender has received
written notice from the Borrower of such failure within three Business Days after such
Issuing Lender shall have furnished the Borrower and the Agent a copy of such Letter of
Credit and such error is material and no drawing has been made thereon prior to receipt of
such notice;

(ix) any Material Adverse Change;

(x) any breach of this Agreement or any other Loan Document by any party thereto;

(xi) the occurrence or continuance of an Insolvency Proceeding with respect to the
Borrower;

(xii) the fact that an Event of Default or a Default shall have occurred and be
continuing;

(xiii) the fact that the Termination Date shall have passed or this Agreement or the
Commitments hereunder shall have been terminated; and

(xiv) any other circumstance or happening whatsoever, whether or not similar to any of
the foregoing.

In furtherance of the foregoing and without limiting the generality thereof, the parties agree
that, with respect to documents presented which appear on their face to be in substantial
compliance with the terms of a Letter of Credit, the relevant Issuing Lender may, in its sole
discretion, either accept and make payment upon such documents without responsibility for further
investigation, regardless of any notice or information to the contrary, or refuse to accept and
make payment upon such documents if such documents are not in strict compliance with the terms of
such Letter of Credit.

 

27

 

(h) Liability for Acts and Omissions. As between the Borrower and the Issuing
Lenders, or the Issuing Lenders’ Affiliates, the Borrower assumes all risks of the acts and
omissions of, or misuse of the Letters of Credit by, the respective beneficiaries of such Letters
of Credit. In furtherance and not in limitation of the foregoing, the Issuing Lenders shall not be
responsible for any of the following, including any losses or damages to the Borrower or other
Person or property relating therefrom: (i) the form, validity, sufficiency, accuracy, genuineness
or legal effect of any document submitted by any party in connection with the application for an
issuance of any such Letter of Credit, even if it should in fact prove to be in any or all
respects invalid, insufficient, inaccurate, fraudulent or forged (even if an Issuing Lender or its
Affiliates shall have been notified thereof); (ii) the validity or sufficiency of any instrument
transferring or assigning or purporting to transfer or assign any such 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; (iii) the failure of the beneficiary of any such Letter of
Credit, or any other party to which such Letter of Credit may be transferred, to comply fully with
any conditions required in order to draw upon such Letter of Credit or any other claim of the
Borrower against any beneficiary of such Letter of Credit, or any such transferee, or any dispute
between or among the Borrower and any beneficiary of any Letter of Credit or any such transferee;
(iv) errors, omissions, interruptions or delays in transmission or delivery of any messages, by
mail, cable, telegraph, telex or otherwise, whether or not they be in cipher; (v) errors in
interpretation of technical terms; (vi) any loss or delay in the transmission or otherwise of any
document required in order to make a drawing under any such Letter of Credit or of the proceeds
thereof; (vii) the misapplication by the beneficiary of any such Letter of Credit of the proceeds
of any drawing under such Letter of Credit; or (viii) any consequences arising from causes beyond
the control of an Issuing Lender or its Affiliates, as applicable, including any act or omission of
any Official Body, and none of the above shall affect or impair, or prevent the vesting of, any of
the Issuing Lenders’ or their Affiliates rights or powers hereunder. Nothing in the preceding
sentence shall relieve an Issuing Lender from liability for such Issuing Lender’s gross negligence
or willful misconduct in connection with actions or omissions described in such clauses (i) through
(viii) of such sentence. In no event shall an Issuing Lender or its Affiliates be liable to the
Borrower for any indirect, consequential, incidental, punitive, exemplary or special damages or
expenses (including without limitation attorneys’ fees), or for any damages resulting from any
change in the value of any property relating to a Letter of Credit.

Without limiting the generality of the foregoing, each Issuing Lender and each of its
Affiliates (i) may rely on any oral or other communication believed in good faith by such Issuing
Lender or such Affiliate to have been authorized or given by or on behalf of the applicant for a
Letter of Credit, (ii) may honor any presentation if the documents presented appear on their face
substantially to comply with the terms and conditions of the relevant Letter of Credit; (iii) may
honor a previously dishonored presentation under a Letter of Credit, whether such dishonor was
pursuant to a court order, to settle or compromise any claim of wrongful dishonor, or otherwise,
and shall be entitled to reimbursement to the same extent as if such presentation had initially
been honored, together with any interest paid by such Issuing Lender or its Affiliate; (iv) may
honor any drawing that is payable upon presentation of a statement advising negotiation or payment,
upon receipt of such statement (even if such statement indicates that a draft or other document is
being delivered separately), and shall not be liable for any failure of any such draft or other
document to arrive, or to conform in any way with the relevant Letter of Credit; (v) may pay any
paying or negotiating bank claiming that it rightfully honored under the laws or practices of the
place where such bank is located; and (vi) may settle or adjust any claim or demand made on such
Issuing Lender or its Affiliate in any way related to any order issued at the applicant’s request
to an air carrier, a letter of guarantee or of indemnity issued to a carrier or any similar
document (each an “Order”) and honor any drawing in connection with any Letter of Credit
that is the subject of such Order, notwithstanding that any drafts or other documents presented in
connection with such Letter of Credit fail to conform in any way with such Letter of Credit.

 

28

 

In furtherance and extension and not in limitation of the specific provisions set forth above,
any action taken or omitted by an Issuing Lender or its Affiliates under or in connection with the
Letters of Credit issued by it or any documents and certificates delivered thereunder, if taken or
omitted in good faith, shall not put such Issuing Lender or its Affiliates under any resulting
liability to the Borrower or any Lender.

(i) Issuing Lender Reporting Requirements. Each Issuing Lender shall, on the first
Business Day of each month, provide to the Agent and the Borrower a schedule of the Letters of
Credit issued by it, in form and substance satisfactory to the Agent, showing the date of issuance
of each Letter of Credit, the account party, the original face amount (if any), and the expiration
date of any Letter of Credit outstanding at any time during the preceding month, and any other
information relating to such Letter of Credit that the Agent may request.

(j) Existing Letter of Credit. Notwithstanding anything to the contrary in this
Section 2.04 (i) the Existing Letter of Credit shall be deemed to have been issued pursuant hereto,
and from and after the Effective Date shall be subject to and governed by the terms and conditions
hereof and (ii) as provided in the definition of Issuing Lender, the sole issuer of Letters of
Credit after the Effective Date shall be PNC or any successor issuer of Letters of Credit. Any
Reimbursement Agreement between the Borrower and Wells Fargo Bank, N.A. relating to the Existing
Letter of Credit is hereby terminated and the pricing and reimbursement obligations with respect to
the Existing Letter of Credit shall be determined in accordance with the terms of this Agreement.

Section 2.05 Fees.

(a) Commitment Fees. Accruing from the date hereof until the Termination Date, the
Borrower agrees to pay to the Agent for the account of each Lender according to its Ratable Share,
a nonrefundable commitment fee (collectively, the “Commitment Fees”) equal to the
Applicable Commitment Fee Percentage (computed on the basis of a year of 360 days and actual days
elapsed) multiplied by the average daily difference between the amount of (i) the Commitments (for
purposes of this computation, PNC’s Swing Line Advances shall be deemed to be borrowed amounts
under PNC’s Commitment and not the Commitment of any other Lender) and (ii) the Revolving Facility
Usage. All Commitment Fees shall be payable in arrears quarterly on the first Business Day of each
April, July, October and January, commencing July 1, 2011, and on the Termination Date.

 

29

 

(b) Agent’s Fees. The Borrower shall pay to the Agent the administrative and other
fees at the times and in the amounts agreed upon in the Fee Letter.

Section 2.06 Optional Termination or Reduction of the Commitments. The Borrower shall have the right, upon at least three Business Days’ notice to the Agent,
to terminate in whole or permanently reduce ratably in part the unused portions of the respective
Commitments of the Lenders, provided, that each partial reduction shall be in the aggregate
amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and provided
further that any such reduction or termination shall be accompanied by prepayment of the
Revolving Credit Advances, Swing Line Advances, Reimbursement Obligations, Letter of Credit
Borrowings and/or cash collateral with respect to any outstanding Letters of Credit, as the case
may be, together with accrued and
unpaid Commitment Fees, and the full amount of interest accrued on the principal sum to be
prepaid (and all amounts referred to in Section 8.04(c)) to the extent necessary to cause the
aggregate Revolving Facility Usage after giving effect to such prepayments to be equal to or less
than the Commitments as so reduced or terminated. Any notice to reduce the Commitments under this
Section 2.06 shall be irrevocable provided that a notice of termination of the Commitments
in full delivered by the Borrower may state that such notice is conditioned upon the effectiveness
of other credit facilities or debt or equity issuances, in which case such notice may be revoked by
the Borrower (by notice to the Agent on or prior to the specified effective date) if such condition
is not satisfied.

Section 2.07 Repayment of Advances. The Borrower shall repay to the Agent for the ratable account of the Lenders on the
Termination Date the aggregate principal amount of the Revolving Credit Advances and Swing Line
Advances then outstanding.

Section 2.08 Interest on Revolving Credit Advances.
(a) Scheduled Interest. The Borrower shall pay interest on the unpaid principal
amount of each Revolving Credit Advance owing to each Lender from the date of such Revolving Credit
Advance until such principal amount shall be paid in full, at the following rates per annum:

(i) Base Rate Advances. During such periods as such Revolving Credit Advance
is a Base Rate Advance, a rate per annum equal at all times to the sum of (x) the Base Rate
in effect from time to time plus (y) the Applicable Margin in effect from time to time,
payable in arrears quarterly on the first Business Day of each April, July, October and
January during such periods and on the date such Base Rate Advance shall be Converted or
paid in full.

(ii) Eurodollar Rate Advances. During such periods as such Revolving Credit
Advance is a Eurodollar Rate Advance, a rate per annum equal at all times during each
Interest Period for such Revolving Credit Advance to the sum of (x) the Eurodollar Rate for
such Interest Period for such Revolving Credit Advance plus (y) the Applicable Margin in
effect from time to time, payable in arrears on the last day of such Interest Period and, if
such Interest Period has a duration of more than three months, on each day that occurs
during such Interest Period every three months from the first day of such Interest Period
and on the date such Eurodollar Rate Advance shall be Converted or paid in full.

(b) Default Interest. Upon the occurrence and during the continuance of an Event of
Default, the Agent may, and upon the request of the Required Lenders shall, require the Borrower to
pay interest (“Default Interest on Revolving Credit Advances and Other Amounts”) on (i) the
unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears
on the dates referred to in clause (a)(i) or (a)(ii) above, as the case may be, at a rate per annum
equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving
Credit Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted
by law, the amount of any interest, fee or other amount payable hereunder that is not paid when
due, from the date such amount shall be due until such amount shall be paid in full, payable in
arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at
all times to 2% per annum above the rate per annum required to be paid on Base
Rate Advances pursuant to clause (a)(i) above, provided, however, that
following acceleration of the Advances pursuant to Section 6.01, Default Interest on Revolving
Credit Advances and Other Amounts shall accrue and be payable hereunder whether or not previously
required by the Agent and shall be paid in full on demand.

 

30

 

Section 2.09 Interest Rate Determination.

(a) The Agent shall give prompt notice to the Borrower and the Lenders of the applicable
interest rate determined by the Agent for purposes of Section 2.08(a)(i) or (ii).

(b) If, with respect to any Eurodollar Rate Advances, the Required Lenders notify the Agent
that the Eurodollar Rate for any Interest Period for such Advances will not adequately reflect the
cost to such Required Lenders of making, funding or maintaining their respective Eurodollar Rate
Advances for such Interest Period, the Agent shall forthwith so notify the Borrower and the
Lenders, whereupon (i) each Eurodollar Rate Advance will automatically, on the last day of the then
existing Interest Period therefor, Convert into a Base Rate Advance, and (ii) the obligation of the
Lenders to make, or to Convert Base Rate Advances into, Eurodollar Rate Advances shall be suspended
until the Agent shall notify the Borrower and the Lenders that the circumstances causing such
suspension no longer exist.

(c) If the Borrower shall fail to select the duration of any Interest Period for any
Eurodollar Rate Advances in accordance with the provisions contained in the definition of
“Interest Period” in Section 1.01, the Agent will forthwith so notify the Borrower and the
Lenders and such Advances will automatically, on the last day of the then existing Interest Period
therefor, Convert into Base Rate Advances.

(d) On the date on which the aggregate unpaid principal amount of Eurodollar Rate Advances
comprising any Revolving Credit Borrowing shall be reduced, by payment or prepayment or otherwise,
to less than $5,000,000, such Advances shall automatically Convert into Base Rate Advances.

(e) Upon the occurrence and during the continuance of any Event of Default, (i) each
Eurodollar Rate Advance will automatically, on the last day of the then existing Interest Period
therefor, Convert into a Base Rate Advance and (ii) the obligation of the Lenders to make, or to
Convert Advances into, Eurodollar Rate Advances shall be suspended.

(f) If on any date on which a Eurodollar Rate would otherwise be determined, the Agent shall
have determined that: (i) adequate and reasonable means do not exist for ascertaining such
Eurodollar Rate, or (ii) a contingency has occurred which materially and adversely affects the
London interbank eurodollar market relating to the Eurodollar Rate,

 

31

 

(i) the Agent shall forthwith notify the Borrower and the Lenders that the interest
rate cannot be determined for such Eurodollar Rate Advances,

(ii) with respect to Eurodollar Rate Advances, each such Advance will automatically, on
the last day of the then existing Interest Period therefor, Convert into a Base Rate Advance
(or if such Advance is then a Base Rate Advance, will continue as a Base Rate Advance), and

(iii) the obligation of the Lenders to make Eurodollar Rate Advances or to Convert
Revolving Credit Advances into Eurodollar Rate Advances shall be suspended until the Agent
shall notify the Borrower and the Lenders that the circumstances causing such suspension no
longer exist.

Section 2.10 Optional Conversion of Revolving Credit Advances. The Borrower may on any Business Day, upon notice given to the Agent not later than 1:00
p.m. (Pittsburgh, Pennsylvania time) on the third Business Day prior to the date of the proposed
Conversion and subject to the provisions of Sections 2.09 and 2.13, Convert all Revolving Credit
Advances of one Type comprising the same Revolving Credit Borrowing into Revolving Credit Advances
of the other Type; provided, however, that any Conversion of Eurodollar Rate
Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such
Eurodollar Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate Advances shall
be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of
any Revolving Credit Advances shall result in more separate Revolving Credit Borrowings than
permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions
specified above, specify (i) the date of such Conversion, (ii) the Revolving Credit Advances to be
Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the duration of the
initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and
binding on the Borrower.

Section 2.11 Prepayments of Revolving Credit Advances. The Borrower may, upon notice not later than 1:00 p.m. (Pittsburgh, Pennsylvania time) at
least three Business Days’ prior to the date of such prepayment, in the case of Eurodollar Rate
Advances, and not later than 1:00 p.m. (Pittsburgh, Pennsylvania time) on the date of such
prepayment, in the case of Base Rate Advances, to the Agent stating the proposed date and aggregate
principal amount of the prepayment, and if such notice is given the Borrower shall, prepay the
outstanding principal amount of the Revolving Credit Advances comprising part of the same Revolving
Credit Borrowing in whole or ratably in part, together with accrued interest to the date of such
prepayment on the principal amount prepaid; provided, however, that (x) each
partial prepayment, in the case of a Revolving Credit Borrowing comprised of Eurodollar Rate
Advances, shall be in an aggregate principal amount of $5,000,000 and in the case of a Revolving
Credit Borrowing comprised of Base Rate Advances, shall be in an aggregate principal amount of
$1,000,000 or, in each case, an integral multiple of $1,000,000 in excess thereof and (y) in the
event of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to
reimburse the Lenders in respect thereof pursuant to Section 8.04(c).

 

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Section 2.12 Increased Costs.

(a) If, due to either (i) the introduction of or any change in or in the interpretation of any
law or regulation or (ii) the compliance with any guideline or request from any central bank or
other Official Body (whether or not having the force of law), there shall be any increase in the
cost to any Lender or any Issuing Lender of agreeing to make or making, funding or maintaining
Eurodollar Rate Advances or agreeing to issue or participate or issuing or participating in Letters
of Credit (excluding for purposes of this Section 2.12 any such increased costs resulting from (i)
Taxes or Other Taxes (as to which Section 2.15 shall govern) and (ii) changes in the basis of
taxation of overall net income or overall gross income by the United
States or by the foreign jurisdiction or state under the laws of which such Lender is
organized or has its Applicable Lending Office or, in each case, any political subdivision
thereof), then the Borrower shall from time to time, upon demand by such Lender or such Issuing
Lender, as the case may be (with a copy of such demand to the Agent), pay to the Agent for the
account of such Lender or such Issuing Lender additional amounts sufficient to compensate such
Lender or such Issuing Lender for such increased cost; provided, however, that
before making any such demand, each Lender or each Issuing Lender, as the case may be, agrees to
use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions)
to designate a different Applicable Lending Office if the making of such a designation would avoid
the need for, or reduce the amount of, such increased cost and would not, in the reasonable
judgment of such Lender or such Issuing Lender, as the case may be, be otherwise disadvantageous to
such Lender or such Issuing Lender. A certificate as to the amount of such increased cost,
submitted to the Borrower and the Agent by such Lender or such Issuing Lender, shall be conclusive
and binding for all purposes, absent manifest error.

(b) If any Lender or Issuing Lender determines that compliance with any law or regulation or
any guideline or request from any central bank or other Official Body (whether or not having the
force of law) affects or would affect the amount of capital required or expected to be maintained
by such Lender or such Issuing Lender or any corporation controlling such Lender or such Issuing
Lender and that the amount of such capital is increased by or based upon the existence of such
Lender’s or such Issuing Lender’s commitment to lend hereunder or issue Letters of Credit hereunder
and other commitments of this type, then, upon demand by such Lender or such Issuing Lender (with a
copy of such demand to the Agent), the Borrower shall pay to the Agent for the account of such
Lender or such Issuing Lender, from time to time as specified by such Lender or such Issuing
Lender, additional amounts sufficient to compensate such Lender or such Issuing Lender or such
corporation in the light of such circumstances, to the extent that such Lender or such Issuing
Lender reasonably determines such increase in capital to be allocable to the existence of such
Lender’s commitment to lend hereunder or issue Letters of Credit hereunder. A certificate as to
such amounts submitted to the Borrower and the Agent by such Lender or such Issuing Lender shall be
conclusive and binding for all purposes, absent manifest error.

(c) Failure or delay on the part of any Lender or any Issuing Lender to demand compensation
pursuant to this Section shall not constitute a waiver or such Lender’s or such Issuing Lender’s
right to demand such compensation.

 

33

 

(d) Notwithstanding anything herein to the contrary, the Dodd-Frank Wall Street Reform and
Consumer Protection Act and each request, rule, guideline or directive thereunder or issued in
connection therewith shall be deemed to be (i) the introduction of or a change in, or in the
interpretation of, law or regulation and (ii) a law, regulation, guideline or request from a
central branch or other Official Body for purposes of both clauses (a) and (b) above, regardless of
the date enacted, adopted or issued.

Section 2.13 Illegality. Notwithstanding any other provision of this Agreement, if any Lender shall notify the Agent
that the introduction of or any change in or in the interpretation of any law or regulation makes
it unlawful, or any central bank or other governmental authority asserts that it is unlawful, for
any Lender or its Eurodollar Lending Office to perform its
obligations hereunder to make Eurodollar Rate Advances or to fund or maintain Eurodollar Rate
Advances hereunder, (a) each Eurodollar Rate Advance will automatically, upon such demand, Convert
into a Base Rate Advance and (b) the obligation of the Lenders to make Eurodollar Rate Advances or
to Convert Revolving Credit Advances into Eurodollar Rate Advances shall be suspended until the
Agent shall notify the Borrower and the Lenders that the circumstances causing such suspension no
longer exist; provided, however, that before making any such demand, each Lender
agrees to use reasonable efforts (consistent with its internal policy and legal and regulatory
restrictions) to designate a different Eurodollar Lending Office if the making of such a
designation would allow such Lender or its Eurodollar Lending Office to continue to perform its
obligations to make Eurodollar Rate Advances or to continue to fund or maintain Eurodollar Rate
Advances and would not, in the judgment of such Lender, be otherwise disadvantageous to such
Lender.

Section 2.14 Payments and Computations.

(a) The Borrower shall make each payment hereunder, irrespective of any right of counterclaim
or set-off, not later than 3:00 p.m. (Pittsburgh, Pennsylvania time) on the day when due in U.S.
dollars to the Agent at the Agent’s Account in same day funds. The Agent will promptly thereafter
cause to be distributed like funds relating to the payment of principal or interest or Commitment
Fees ratably (other than amounts payable pursuant to Section 2.03, 2.12, 2.15 or 8.04(c), as
provided in Section 2.21 or the payment to an Issuing Lender of its fronting fees) to the Lenders
for the account of their respective Applicable Lending Offices, and like funds relating to the
payment of any other amount payable to any Lender to such Lender for the account of its Applicable
Lending Office, in each case to be applied in accordance with the terms of this Agreement. Upon
any Assuming Lender becoming a Lender hereunder as a result of a Commitment Increase pursuant to
Section 2.19, and upon the Agent’s receipt of such Lender’s Assumption Agreement and recording of
the information contained therein in the Register, from and after the applicable Increase Date, the
Agent shall make all payments hereunder and under any Notes issued in connection therewith in
respect of the interest assumed thereby to the Assuming Lender. Upon its acceptance of an
Assignment and Assumption and recording of the information contained therein in the Register
pursuant to Section 8.07(b), from and after the effective date specified in such Assignment and
Assumption, the Agent shall make all payments hereunder and under the Notes in respect of the
interest assigned thereby to the Lender assignee thereunder, and the parties to such Assignment and
Assumption shall make all appropriate adjustments in such payments for periods prior to such
effective date directly between themselves.

 

34

 

(b) The Borrower hereby authorizes each Lender and each Issuing Lender, if and to the extent
payment owed to such Lender or such Issuing Lender is not made when due hereunder or under the Note
held by such Lender to charge from time to time against any or all of the Borrower’s accounts with
such Lender or such Issuing Lender any amount so due.

(c) All computations of interest based on the Base Rate shall be made by the Agent on the
basis of a year of 365 or 366 days, as the case may be, and all computations of interest based on
the Eurodollar Rate, the Federal Funds Rate or the Federal Funds Open Rate and of Commitment Fees,
Letter of Credit Fees and fronting fees shall be made by the Agent on the basis of a year of 360
days, in each case for the actual number of days (including the first day
but excluding the last day) occurring in the period for which such interest, Commitment Fees,
Letter of Credit Fees or fronting fees are payable. Each determination by the Agent of an interest
rate or component thereof under this Agreement shall be conclusive and binding for all purposes,
absent manifest error.

(d) Whenever any payment hereunder or under the Notes shall be stated to be due on a day other
than a Business Day, such payment shall be made on the next succeeding Business Day, and such
extension of time shall in such case be included in the computation of payment of interest or fees
(including Commitment Fees, Letter of Credit Fees and fronting fees), as the case may be;
provided, however, that, if such extension would cause payment of interest on or
principal of Eurodollar Rate Advances to be made in the next following calendar month, such payment
shall be made on the next preceding Business Day.

(e) Unless the Agent shall have received notice from the Borrower prior to the date on which
any payment is due to the Lenders hereunder that the Borrower will not make such payment in full,
the Agent may assume that the Borrower has made such payment in full to the Agent on such date and
the Agent may, in reliance upon such assumption, cause to be distributed to each Lender on such due
date an amount equal to the amount then due such Lender. If and to the extent the Borrower shall
not have so made such payment in full to the Agent, each Lender shall repay to the Agent forthwith
on demand such amount distributed to such Lender together with interest thereon, for each day from
the date such amount is distributed to such Lender until the date such Lender repays such amount to
the Agent, at the Federal Funds Rate.

Section 2.15 Taxes.

(a) Any and all payments by the Borrower to or for the account of any Lender, any Issuing
Lender or the Agent hereunder or under the Notes or any other documents to be delivered hereunder
shall be made, in accordance with Section 2.14 or the applicable provisions of such other
documents, free and clear of and without deduction for any and all present or future taxes, levies,
imposts, deductions, charges or withholdings, and all liabilities with respect thereto,
excluding (such excluded taxes, the “Excluded Taxes”), in the case of each Lender,
each Issuing Lender and the Agent, taxes imposed on its overall net income, and franchise taxes
imposed on it in lieu of net income taxes, by the jurisdiction under the laws of which such Lender,
such Issuing Lender or the Agent (as the case may be) is organized or any political subdivision
thereof and, in the case of each Lender, taxes imposed on its overall net income, and franchise
taxes imposed on it in lieu of net income taxes, by the jurisdiction of such Lender’s Applicable
Lending Office or any political subdivision thereof, and any branch profits taxes or similar taxes
(all such non-excluded taxes, levies, imposts, deductions, charges, withholdings and liabilities in
respect of payments hereunder or under the Notes being hereinafter referred to as “Taxes”).
If the Borrower shall be required by law to deduct any Taxes from or in respect of any sum payable
hereunder or under any Note or any other documents to be delivered hereunder to any Lender, any
Issuing Lender or the Agent, (i) the sum payable shall be increased as may be necessary so that
after making all required deductions (including deductions applicable to additional sums payable
under this Section 2.15) such Lender, such Issuing Lender or the Agent (as the case may be)
receives an amount equal to the sum it would have received had no such deductions been made, (ii)
the Borrower shall make such deductions and (iii) the
Borrower shall pay the full amount deducted to the relevant taxation authority or other
authority in accordance with applicable law.

 

35

 

(b) In addition, the Borrower shall pay any present or future stamp or documentary taxes or
any other excise or property taxes, charges or similar levies that arise from any payment made
hereunder or under the Notes or any other documents to be delivered hereunder or from the
execution, delivery or registration of, performing under, or otherwise with respect to, this
Agreement or the Notes or any other documents to be delivered hereunder (hereinafter referred to as
“Other Taxes”).

(c) The Borrower shall indemnify each Lender, each Issuing Lender and the Agent for and hold
it harmless against the full amount of Taxes or Other Taxes (including, without limitation, taxes
of any kind imposed or asserted by any jurisdiction on amounts payable under this Section 2.15)
imposed on or paid by such Lender, such Issuing Lender or the Agent (as the case may be) and any
liability (including penalties, interest and expenses) arising therefrom or with respect thereto.
This indemnification shall be made within 30 days from the date such Lender, such Issuing Lender or
the Agent (as the case may be) makes written demand therefor.

(d) Within 30 days after the date of any payment of Taxes, the Borrower shall furnish to the
Agent, at its address referred to in Section 8.02, the original or a certified copy of a receipt
evidencing such payment to the extent such a receipt is issued therefor, or other written proof of
payment thereof that is reasonably satisfactory to the Agent. In the case of any payment hereunder
or under the Notes or any other documents to be delivered hereunder by or on behalf of the Borrower
through an account or branch outside the United States or by or on behalf of the Borrower by a
payor that is not a United States person, if the Borrower determines that no Taxes are payable in
respect thereof, the Borrower shall furnish, or shall cause such payor to furnish, to and at the
request of the Agent, at such address, an opinion of counsel acceptable to the Agent stating that
such payment is exempt from Taxes. For purposes of this subsection (d) and subsection (e), the
terms “United States” and “United States person” shall have the meanings specified
in Section 7701 of the Internal Revenue Code.

(e) Each Lender, on or prior to the date of its execution and delivery of this Agreement in
the case of each Initial Lender and on the date of the Assumption Agreement or the Assignment and
Assumption pursuant to which it becomes a Lender in the case of each other Lender, and from time to
time thereafter as reasonably requested in writing by the Borrower (but only so long as such Lender
remains lawfully able to do so), shall, in the case of a Lender organized under the laws of a
jurisdiction outside the United States (a “Foreign Lender”) provide each of the Agent and
the Borrower with two original Internal Revenue Service Forms W-8BEN or W-8ECI, as appropriate, or
any successor or other form prescribed by the Internal Revenue Service, certifying that such Lender
is exempt from or entitled to a reduced rate of United States withholding tax on payments pursuant
to this Agreement or the Notes or, in the case of a Lender organized under the laws of a
jurisdiction inside the United States, shall provide each of the Agent and the Borrower with two
original Internal Revenue Service Form W-9 or any successor form prescribed by the Internal Revenue
Service. Each Lender shall promptly notify the Agent and the Borrower if any information on a form
it has provided to the Agent and the Borrower pursuant to this Section 2.15(e) has become obsolete.
If the form provided by a Foreign Lender
at the time such Foreign Lender first becomes a party to this Agreement indicates a United
States interest withholding tax rate in excess of zero, withholding tax at such rate shall be
considered excluded from Taxes unless and until such Foreign Lender provides the appropriate forms
certifying that a lesser rate applies, whereupon withholding tax at such lesser rate only shall be
considered excluded from Taxes for periods governed by such form; provided,
however, that, in respect of a Foreign Lender, if at the date of the Assignment and
Assumption pursuant to which a Foreign Lender assignee becomes a party to this Agreement, the
Foreign Lender assignor was entitled to payments under subsection (a) in respect of United States
withholding tax with respect to interest paid at such date, then, to such extent, the term Taxes
shall include (in addition to withholding taxes that may be imposed in the future or other amounts
otherwise includable in Taxes) United States withholding tax, if any, applicable with respect to
the Lender assignee on such date.

 

36

 

(f) For any period with respect to which a Lender has failed to provide the Borrower with the
appropriate form, certificate or other document described in Section 2.15(e) (other
than if such failure is due to a change in law, or in the interpretation or application
thereof, occurring subsequent to the date on which a form, certificate or other document originally
was required to be provided, or if such form, certificate or other document otherwise is not
required under subsection (e) above), such Lender shall not be entitled to indemnification under
Section 2.15(a) or (c) with respect to Taxes imposed by the United States by reason of such
failure; provided, however, that should a Lender become subject to Taxes because of
its failure to deliver a form, certificate or other document required hereunder, the Borrower shall
take such steps as the Lender shall reasonably request to assist the Lender to recover such Taxes.

(g) Any Lender claiming any additional amounts payable pursuant to this Section 2.15 agrees to
use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions)
to change the jurisdiction of its Eurodollar Lending Office if the making of such a change would
avoid the need for, or reduce the amount of, any such additional amounts that may thereafter accrue
and would not, in the reasonable judgment of such Lender, be otherwise disadvantageous to such
Lender.

(h) If a payment made to a Lender under any Loan Document would be subject to U.S. Federal
withholding tax imposed by FATCA if such Lender were to fail to comply with the applicable
reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the
Internal Revenue Code, as applicable), such Lender shall deliver to the Borrower and the Agent, at
the time or times prescribed by law and at such time or times reasonably requested by the Borrower
or the Agent, such documentation prescribed by applicable law (including any notice described in
Section 1471(b)(3)(C)(i) of the Internal Revenue Code) and such additional documentation reasonably
requested by the Borrower or the Agent as may be necessary for the Borrower or the Agent, as the
case may be, to comply with its obligations under FATCA, to determine that such Lender has or has
not complied with such Lender’s obligations under FATCA or to determine the amount to deduct and
withhold from such payment.

 

37

 

(i) Any Lender, if requested by any Withholding Agent, shall deliver such other documentation
prescribed by applicable Law or reasonably requested by a Withholding Agent as will enable such
Withholding Agent to determine whether or not such Lender is subject
to backup withholding or information reporting requirements or to determine the amount of
backup withholding tax to deduct and withhold from such payment. Without limiting the above, if
any Withholding Agent determines, in its sole discretion exercised in good faith, that it is so
required to deduct or withhold Taxes, Excluded Taxes or Other Taxes, then such Withholding Agent
may so deduct or withhold (or cause to be withheld) and shall timely pay (or cause to be timely
paid) the full amount of deducted or withheld Taxes, Excluded Taxes or Other Taxes to the relevant
Official Body in accordance with applicable law.

Section 2.16 Sharing of Payments, Etc.
If any Lender shall obtain any payment (whether voluntary, involuntary, through the exercise
of any right of set off, or otherwise) on account of the Revolving Credit Advances owing to it
(other than pursuant to Section 2.12, 2.15 or 8.04(c)) in excess of its ratable share of payments
on account of the Revolving Credit Advances obtained by all the Lenders, such Lender shall
forthwith purchase from the other Lenders such participations in the Revolving Credit Advances
owing to them as shall be necessary to cause such purchasing Lender to share the excess payment
ratably with each of them; provided, however, that if all or any portion of such
excess payment is thereafter recovered from such purchasing Lender, such purchase from each Lender
shall be rescinded and such Lender shall repay to the purchasing Lender the purchase price to the
extent of such recovery together with an amount equal to such Lender’s ratable share (according to
the proportion of (i) the amount of such Lender’s required repayment to (ii) the total amount so
recovered from the purchasing Lender) of any interest or other amount paid or payable by the
purchasing Lender in respect of the total amount so recovered. The Borrower agrees that any Lender
so purchasing a participation from another Lender pursuant to this Section 2.16 may, to the fullest
extent permitted by law, exercise all its rights of payment (including the right of set off) with
respect to such participation as fully as if such Lender were the direct creditor of the Borrower
in the amount of such participation.

Section 2.17 Evidence of Debt.

(a) Each Lender (including the Swing Line Lender) shall maintain in accordance with its usual
practice an account or accounts evidencing the indebtedness of the Borrower to such Lender
resulting from each Revolving Credit Advance owing to such Lender from time to time and, with
respect to the Swing Line Lender, each Swing Line Advance, including the amounts of principal and
interest payable and paid to such Lender from time to time hereunder in respect of Revolving Credit
Advances and Swing Line Advances. The Borrower agrees that upon notice by any Lender to the
Borrower (with a copy of such notice to the Agent) to the effect that a Revolving Credit Note is
required or appropriate in order for such Lender to evidence (whether for purposes of pledge,
enforcement or otherwise) the Revolving Credit Advances owing to, or to be made by, such Lender,
the Borrower shall promptly execute and deliver to such Lender a Revolving Credit Note payable to
the order of such Lender in a principal amount up to the Commitment of such Lender.

 

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(b) The Register maintained by the Agent pursuant to Section 8.07(c) shall include a control
account, and a subsidiary account for each Lender, in which accounts (taken together) shall be
recorded (i) the date and amount of each Revolving Credit Borrowing made hereunder, the Type of
Advances comprising such Revolving Credit Borrowing and, if appropriate, the Interest Period
applicable thereto, (ii) the date and amount of each Swing Line
Advance, (iii) the terms of each Assumption Agreement and each Assignment and Assumption
delivered to and accepted by it, (iv) the amount of any principal or interest due and payable or to
become due and payable from the Borrower to each Lender hereunder and (v) the amount of any sum
received by the Agent from the Borrower hereunder and each Lender’s share thereof.

(c) Entries made in good faith by the Agent in the Register pursuant to subsection (b) above,
and by each Lender in its account or accounts pursuant to subsection (a) above, shall be prima
facie evidence of the amount of principal and interest due and payable or to become due and payable
from the Borrower to, in the case of the Register, each Lender and, in the case of such account or
accounts, such Lender, under this Agreement, absent manifest error; provided,
however, that the failure of the Agent or such Lender to make an entry, or any finding that
an entry is incorrect, in the Register or such account or accounts shall not limit or otherwise
affect the obligations of the Borrower under this Agreement.

Section 2.18 Use of Proceeds. The proceeds of the Advances shall be available (and the Borrower agrees that it shall use
such proceeds) for general corporate purposes of the Borrower and its Subsidiaries, including the
refinancing of the credit facility listed on Schedule 3.01(h) hereto.

Section 2.19 Increase in the Aggregate Commitments.

(a) The Borrower may by notice to the Agent, request that the aggregate amount of the
Commitment be increased by an amount of $10,000,000 or an integral multiple thereof (each a
“Commitment Increase”) to be effective as of a date that is at least 30 days prior to the
scheduled Termination Date then in effect (the “Increase Date”) as specified in the related
notice to the Agent; provided, however that (i) in no event shall the aggregate
amount of the Commitments at any time exceed $400,000,000 and (ii) on the date of any request by
the Borrower for a Commitment Increase and on the related Increase Date, the applicable conditions
set forth in Article III shall be satisfied.

(b) The Agent shall promptly notify the Lenders of a request by the Borrower for a Commitment
Increase, which notice shall include (i) the proposed amount of such requested Commitment Increase,
(ii) the proposed Increase Date and (iii) the date by which Lenders wishing to participate in the
Commitment Increase must commit to an increase in the amount of their respective Commitments (the
“Commitment Date”). Each Lender that is willing to participate in such requested
Commitment Increase (each an “Increasing Lender”) shall, in its sole discretion, give
written notice to the Agent on or prior to the Commitment Date of the amount by which it is willing
to increase its Commitment. If the Lenders notify the Agent that they are willing to increase the
amount of their respective Commitments by an aggregate amount that exceeds the amount of the
requested Commitment Increase, the requested Commitment Increase shall be allocated among the
Lenders willing to participate therein in such amounts as are agreed between the Borrower and the
Agent.

 

39

 

(c) Promptly following each Commitment Date, the Agent shall notify the Borrower as to the
amount, if any, by which the Lenders are willing to participate in the requested Commitment
Increase. If the aggregate amount by which the Lenders are willing to participate in any requested
Commitment Increase on any such Commitment Date is less than the
requested Commitment Increase, then the Borrower may extend offers to one or more Eligible
Assignees to participate in any portion of the requested Commitment Increase that has not been
committed to by the Lenders as of the applicable Commitment Date; provided,
however, that the Commitment of each such Eligible Assignee shall be in an amount of
$10,000,000 or an integral multiple of $1,000,000 in excess thereof.

(d) On each Increase Date, each Eligible Assignee that accepts an offer to participate in a
requested Commitment Increase in accordance with Section 2.19(b) (each such Eligible Assignee, an
“Assuming Lender”) shall become a Lender party to this Agreement as of such Increase Date
and the Commitment of each Increasing Lender for such requested Commitment Increase shall be so
increased by such amount (or by the amount allocated to such Lender pursuant to the last sentence
of Section 2.19(b)) as of such Increase Date; provided, however, that the Agent
shall have received on or before such Increase Date the following, each dated such date:

(i) (A) certified copies of resolutions of the Board of Directors of the Borrower or
the Executive Committee of such Board approving the Commitment Increase and the
corresponding modifications to this Agreement and (B) an opinion of counsel for the Borrower
(which may be in-house counsel), in substantially the form of Exhibit D hereto;

(ii) an assumption agreement from each Assuming Lender, if any, in form and substance
satisfactory to the Borrower and the Agent (each an “Assumption Agreement”), duly
executed by such Eligible Assignee, the Agent and the Borrower; and

(iii) confirmation from each Increasing Lender of the increase in the amount of its
Commitment in a writing satisfactory to the Borrower and the Agent.

On each Increase Date, upon fulfillment of the conditions set forth in the immediately preceding
sentence of this Section 2.19(d), the Agent shall notify the Lenders (including, without
limitation, each Assuming Lender) and the Borrower, on or before 1:00 p.m. (Pittsburgh,
Pennsylvania time) of the occurrence of the Commitment Increase to be effected on such Increase
Date and shall record in the Register the relevant information with respect to each Increasing
Lender and each Assuming Lender on such date. Each Increasing Lender and each Assuming Lender
shall, before 2:00 p.m. (Pittsburgh, Pennsylvania time) on the Increase Date, make available for
the account of its Applicable Lending Office to the Agent at the Agent’s Account, in same day
funds, in the case of such Assuming Lender, an amount equal to such Assuming Lender’s ratable
portion of the Revolving Credit Borrowings then outstanding (calculated based on its Ratable Share
after giving effect to the relevant Commitment Increase) and, in the case of such Increasing
Lender, an amount equal to the excess of (i) such Increasing Lender’s ratable portion of the
Revolving Credit Borrowings then outstanding (calculated based on its Ratable Share after giving
effect to the relevant Commitment Increase) over (ii) such Increasing Lender’s ratable portion of
the Revolving Credit Borrowings then outstanding (calculated based on its Commitment (without
giving effect to the relevant Commitment Increase) as a percentage of the aggregate Commitments
(without giving effect to the relevant Commitment Increase). After the Agent’s receipt of such
funds from each such Increasing Lender and each such Assuming Lender, the Agent will promptly
thereafter cause to be
distributed like funds to the other Lenders for the account of their respective Applicable Lending
Offices in an amount to each other Lender such that the aggregate amount of the outstanding
Revolving Credit Advances owing to each Lender after giving effect to such distribution equals such
Lender’s ratable portion of the Revolving Credit Borrowings then outstanding (calculated based on
its Ratable Share after giving effect to the relevant Commitment Increase).

 

40

 

In addition, on each Increase Date, each Lender that is increasing its Commitment and each Assuming
Lender that is joining this Agreement shall be deemed to have irrevocably and unconditionally
purchased and received, without recourse or warranty, from the Lenders party to this Agreement
immediately prior to the Increase Date, an undivided interest and participation in any Letter of
Credit and Swing Line Advance then outstanding, ratably, such that each Lender (including each
Lender increasing its Commitment and each Assuming Lender that is joining this Agreement) holds a
participation interest in each such Letter of Credit and Swing Line Advance in the amount of its
then Ratable Share thereof.

Section 2.20 Extension of Termination Date. Without any further action by or consent of the Lenders, the Termination Date shall be
extended to October 31, 2015, if, on or before the date that is 364 days after the Closing Date,
the Borrower shall have delivered to the Agent (each in form and substance satisfactory to the
Agent) the following: (a) a copy of the securities certificate registered with the Pennsylvania
Public Utility Commission (the “Securities Certificate”) authorizing the Borrower’s
incurring indebtedness hereunder with a maturity date of October 31, 2015, (b) an opinion of
counsel to the Borrower (which may be in-house counsel) stating that (i) the Securities Certificate
has been registered with the Pennsylvania Public Utility Commission in accordance with Chapter 19
of the Pennsylvania Public Utility Code and by virtue of such registration, authorizes the
Borrower to incur indebtedness hereunder with a maturity date of October 31, 2015 and (ii) no other
authorizations are required by the Pennsylvania Public Utility Commission or by any other state or
local regulatory agency or governmental authority having jurisdiction over the Borrower and (c)
copies of corporate resolutions certified by the Secretary or Assistant Secretary of the Borrower,
or such other evidence as may be satisfactory to the Agent, demonstrating that the Borrower’s
incurrence of indebtedness hereunder with a maturity date of October 31, 2015 has been duly
authorized by all necessary corporate action, together with an opinion of counsel to the Borrower
(which may be in-house counsel) to such effect.

 

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Section 2.21 Defaulting Lenders. Notwithstanding any provision of this Agreement to the contrary (including Sections 2.04(b)
and 2.05(a)), if any Lender becomes a Defaulting Lender, then the following provisions shall apply
for so long as such Lender is a Defaulting Lender:

(a) such Defaulting Lender shall no longer be entitled to receive its Ratable Share of Letter
of Credit Fees or Commitment Fees otherwise payable pursuant to Sections 2.04(b) or 2.05(a) hereof,
and thereafter, so long as any Lender is a Defaulting Lender, the fees payable to the
Non-Defaulting Lenders pursuant to Section 2.04(b) and 2.05 shall be based on their Ratable Shares;
provided that (a) if a Letter of Credit Collateral Account is maintained pursuant to
Section 2.21(b)(iv) and fully cash collateralized pursuant to Section 2.21(b), the Borrower shall
not be required to pay any fees pursuant to Section 2.04(b) with respect to the unallocated portion
of such Defaulting Lender’s Ratable Share of all Letter of Credit
Obligations, and (b) if any Defaulting Lender’s Ratable Share of the Letter of Credit
Obligations is neither reallocated nor fully cash collateralized pursuant to Section 2.21(b), then
without prejudice to any rights or remedies of any Issuing Lender or any Lender hereunder, all fees
payable under Section 2.04(b) with respect thereto shall be payable to the relevant Issuing Lender
until such Defaulting Lender’s Ratable Share of the Letter of Credit Obligations is reallocated
and/or cash collateralized to the extent required pursuant to Section 2.21(b);

(b) if any outstanding Swing Line Advance or Letter of Credit exists at the time a Lender
becomes a Defaulting Lender, then:

(i) such Defaulting Lender’s pro rata portion of such Swing Line Advance shall be
reallocated among the Non-Defaulting Lenders in accordance with their respective Ratable
Shares but only to the extent (A) the sum of (I) the aggregate principal amount of all
outstanding Revolving Credit Advances of all Non-Defaulting Lenders then outstanding plus
(II) all Non-Defaulting Lenders’ Ratable Shares of (x) the aggregate principal amount of all
outstanding Swing Line Advances then outstanding plus (y) the Letter of Credit Obligations
at such time, does not exceed the aggregate amount of the Commitments of all Non-Defaulting
Lenders at such time and (B) the conditions set forth in Section 3.02 are satisfied at such
time;

(ii) such Defaulting Lender’s participation interests in such outstanding Letters of
Credit shall be reallocated among the Non-Defaulting Lenders in accordance with their
respective Ratable Shares but only to the extent (A) the sum of (I) the aggregate principal
amount of all outstanding Revolving Credit Advances of all Non-Defaulting Lenders then
outstanding plus (II) all Non-Defaulting Lenders’ Ratable Shares of (x) the aggregate
principal amount of all outstanding Swing Line Advances then outstanding plus (y) the Letter
of Credit Obligations at such time, does not exceed the aggregate amount of the Commitments
of all Non-Defaulting Lenders at such time and (B) the conditions set forth in Section 3.02
are satisfied at such time;

(iii) to the extent that all or any part of such Defaulting Lender’s pro rata portion
of Swing Line Advances cannot be reallocated pursuant to Section 2.21(b)(i), then the
Borrower shall (A) within 15 days following notice from the Agent until such Defaulting
Lender ceases to be a Defaulting Lender under this Agreement, establish and, thereafter,
maintain a special collateral account (the “Swing Line Collateral Account”) with the
Agent, in the name of the Borrower but under the sole dominion and control of the Agent, (B)
grant to the Agent for the benefit of the Swing Line Lender and the other Lenders, solely as
security for repayment of the unallocated portion of such Defaulting Lender’s Ratable Share
of outstanding Swing Line Advances, a security interest in and to the Swing Line Collateral
Account and any funds that may thereafter be deposited therein and (C) maintain in the Swing
Line Collateral Account an amount equal to the unallocated portion of such Defaulting
Lender’s Ratable Share of outstanding Swing Line Advances; and

 

42

 

(iv) to the extent that all or any part of such Defaulting Lender’s participations in
outstanding Letters of Credit cannot be reallocated pursuant to Section 2.21(b)(ii), then
the Borrower (A) shall, within 15 days following notice from the Agent until such
Defaulting Lender ceases to be a Defaulting Lender under this Agreement, establish and,
thereafter, maintain a special collateral account (the “Letter of Credit Collateral
Account”) with the Agent in the name of the Borrower but under the sole dominion and
control of the Agent, (B) grant to the Agent for the benefit of the Issuing Lenders and the
other Lenders, as security for the unallocated portion of such Defaulting Lender’s Ratable
Share of all Letter of Credit Obligations, a security interest in the Letter of Credit
Collateral Account and any funds that may be deposited therein and (C) shall maintain in the
Letter of Credit Collateral Account an amount equal to the unallocated portion of such
Defaulting Lender’s Ratable Share of all Letter of Credit Obligations, regardless of whether
any Letters of Credit have then been drawn;

(c) so long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be
required to, but in its sole discretion may from time to time elect to, fund any Swing Line
Advance, (ii) no Issuing Lender shall be required to, but in its sole discretion may from time to
time elect to, issue, amend or increase any Letter of Credit, unless in each case it is satisfied
in its sole discretion that the related exposure will be 100% covered by the Non-Defaulting Lenders
and/or cash collateral will be provided by the Borrower in accordance with Section 2.21(b) and
(iii) participating interests in any newly made Swing Line Advance or any newly issued or increased
Letter of Credit shall be allocated among Non-Defaulting Lenders in a manner consistent with
Section 2.21(b)(i) and (ii) (and such Defaulting Lender shall not participate therein);

(d) any amount payable to a Defaulting Lender hereunder (whether on account of principal,
interest, fees or otherwise) shall, in lieu of being distributed to such Defaulting Bank, be
retained by the Agent in a segregated non-interest bearing account and, to the fullest extent
permitted by law, be applied at such time or times as may be determined by the Agent (i) first, to
the payment of any amounts owing by such Defaulting Lender to the Agent hereunder, (ii) second,
pro rata, to the payment of any amounts owing by such Defaulting Lender to the
Issuing Lenders and the Swing Line Lender under this Agreement, and (iii) after the termination of
the Commitments and payment in full of all obligations of the Borrower hereunder, to pay amounts
owing under this Agreement to such Defaulting Lender or as a court of competent jurisdiction may
otherwise direct; and

(e) In the event that the Borrower, the Agent, the Issuing Lender and the Swing Line Lender
each agrees that a Defaulting Lender has adequately remedied all matters that caused such Lender to
be a Defaulting Lender, then the Swing Line Advances and the Letter of Credit participations of the
Lenders shall be readjusted to reflect the inclusion of such Lender’s Ratable Share and on such
date such Lender shall purchase at par such of the Revolving Credit Advances of the other Lenders
as the Agent shall determine may be necessary in order for such Lender to hold such Revolving
Credit Advances in accordance with its Ratable Share.

 

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ARTICLE III

CONDITIONS TO EFFECTIVENESS AND LENDING

Section 3.01 Conditions Precedent to Effectiveness. This Agreement shall become effective, and the obligations of the Lenders to make Revolving
Credit Advances and of the
Issuing Lenders to issue Letters of Credit hereunder shall become effective, on and as of the
first date (the “Effective Date”) on which the following conditions precedent have been
satisfied:

(a) There shall have occurred no Material Adverse Change since September 30, 2010.

(b) There shall exist no action, suit, investigation, litigation or proceeding affecting the
Borrower or any of its Subsidiaries pending or threatened before any court, governmental agency or
arbitrator that (i) would be reasonably likely to have a Material Adverse Effect other than the
matters disclosed in the SEC Reports prior to the date hereof (the “Disclosed Litigation”)
or (ii) purports to affect the legality, validity or enforceability of this Agreement or any Note
or the consummation of the transactions contemplated hereby, and there shall have been no change in
the Disclosed Litigation that would have a Material Adverse Effect.

(c) All governmental and third party consents and approvals necessary in connection with the
transactions contemplated hereby shall have been obtained (without the imposition of any conditions
that are not acceptable to the Lenders) and shall remain in effect, and no law or regulation shall
be applicable in the reasonable judgment of the Lenders that restrains, prevents or imposes
materially adverse conditions upon the transactions contemplated hereby.

(d) The Borrower shall have notified the Agent in writing as to the proposed Effective Date.

(e) The Borrower shall have paid, or will pay with the initial Advance on the Effective Date,
all accrued fees and expenses of the Agent and the Lenders (including, to the extent invoiced, the
reasonable and documented accrued fees and expenses of counsel to the Agent).

(f) On the Effective Date, the following statements shall be true and the Agent shall have
received a certificate signed by a duly authorized officer of the Borrower, dated the Effective
Date, stating that:

(i) The representations and warranties contained in Section 4.01 are correct in all
material respects (except that any representation or warranty which is already qualified as
to materiality or by reference to a Material Adverse Effect shall be correct in all
respects) on and as of the Effective Date,

(ii) No Material Adverse Change has occurred since September 30, 2010, and

 

44

 

(iii) No event has occurred and is continuing that constitutes a Default.

(g) The Agent shall have received the following, each dated the Effective Date, in form and
substance satisfactory to the Agent and (except for the Revolving Credit Notes and the Swing Line
Note) in sufficient copies for each Lender:

(i) Either (x) a counterpart of this Agreement signed on behalf of the Agent, the
Borrower and each Initial Lender or (y) evidence satisfactory to the Administrative
Agent (which may include an electronic transmission) that such party has signed a
counterpart of this Agreement.

(ii) The Revolving Credit Notes to the order of the Lenders to the extent requested by
any Lender pursuant to Section 2.17, and a Swing Line Note to the order of the Swing Line
Lender to the extent requested by the Swing Line Lender.

(iii) Such documents and certificates as the Agent may reasonably request relating to
the organization, existence and good standing of the Company.

(iv) Certified copies of the resolutions of the Board of Directors of the Borrower
approving this Agreement and the Notes, and of all documents evidencing other necessary
corporate action and governmental approvals, if any, with respect to this Agreement and the
Notes.

(v) A certificate of the Secretary or an Assistant Secretary of the Borrower certifying
the names and true signatures of the officers of the Borrower authorized to sign this
Agreement and the Notes and the other documents to be delivered hereunder.

(vi) A favorable opinion of Morgan, Lewis & Bockius LLP, counsel for the Borrower,
substantially in the form of Exhibit D hereto and as to such other matters as any Lender
through the Agent may reasonably request.

(h) The Borrower shall have terminated the commitments of the lenders and repaid or prepaid
all of the obligations under (or shall have provided for the repayment or prepayment thereof with
the proceeds of the initial Revolving Credit Borrowing and Swing Line Advances to be made hereunder
on the Effective Date), the credit facility listed on Schedule 3.01(h) hereto, and each of the
Lenders that is a party to any such credit facility hereby waives, upon execution of this
Agreement, any notice required by said credit facility relating to the termination of commitments
thereunder.

 

45

 

Section 3.02 Conditions Precedent to Each Revolving Credit Borrowing, Swing Line Advance,
Letter of Credit and Commitment Increase. The obligation of each Lender to make an Advance and of each Issuing Lender to issue,
amend, renew or extend any Letter of Credit, and the occurrence of any Commitment Increase, shall
be subject to the conditions precedent that the Effective Date shall have occurred and on the date
of such Notice of Revolving Credit Borrowing, Notice of Swing Line Borrowing, request for the
issuance, amendment, renewal or extension of a Letter of Credit or Increase Date, as the case may
be, the following statements shall be true (and each of the giving of the applicable Notice of
Revolving Credit Borrowing or Notice of Swing Line Advance, request for the issuance, amendment,
renewal or extension of a Letter of Credit or request for a Commitment Increase, and the acceptance
by the Borrower of the proceeds of such Revolving Credit Borrowing or Swing Line Advance or
issuance, amendment, renewal or extension of such Letter of Credit, as the case may be, shall
constitute a representation and warranty by the Borrower that on the date thereof such statements
are true):

(a) the representations and warranties contained in Section 4.01 are correct in all material
respects (except that any representation or warranty which is already qualified as to materiality
or by reference to a Material Adverse Effect shall be correct in all respects) on and as
of such date, before and after giving effect to such Revolving Credit Borrowing, Swing Line
Advance, Letter of Credit issuance, amendment, renewal or extension or Commitment Increase, as the
case may be, and to the application of the proceeds therefrom, as though made on and as of such
date, except to the extent such representations and warranties expressly relate to any earlier
date, in which case such representations and warranties were true and correct as of such earlier
date, and

(b) no event has occurred and is continuing, or would result from such Revolving Credit
Borrowing, Swing Line Advance, Letter of Credit issuance, amendment, renewal or extension or
Commitment Increase or from the application of the proceeds therefrom, that constitutes a Default.

Section 3.03 Determinations Under Section 3.01. For purposes of determining compliance with the conditions specified in Section 3.01, each
Lender shall be deemed to have consented to, approved or accepted or to be satisfied with each
document or other matter required thereunder to be consented to or approved by or acceptable or
satisfactory to the Lenders unless an officer of the Agent responsible for the transactions
contemplated by this Agreement shall have received notice from such Lender prior to the date that
the Borrower, by notice to the Agent on behalf of all Lenders, designates as the proposed Effective
Date, specifying its objection thereto. The Agent shall promptly notify the Lenders of the
occurrence of the Effective Date.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES

Section 4.01 Representations and Warranties of the Borrower. The Borrower represents and warrants as follows:

(a) The Borrower is a corporation duly organized, validly existing and currently subsisting
under the laws of the Commonwealth of Pennsylvania. The Borrower has all requisite power and
authority to carry on its business in all material respects as now conducted and is qualified to do
business in every jurisdiction where such qualification is required, except where the failure to
have such power, authority or qualification, individually or in the aggregate, would not reasonably
be expected to result in a Material Adverse Effect.

(b) The execution, delivery and performance by the Borrower of this Agreement and the Notes to
be delivered by it, and the consummation of the transactions contemplated hereby, are within the
Borrower’s corporate powers, have been duly authorized by all necessary corporate action, and do
not contravene (i) the Borrower’s charter or by laws or (ii) any applicable law or any contractual
restriction binding on or affecting the Borrower, and will not result in or require the creation or
imposition of any Lien prohibited by this Agreement, provided that any increase of the
Commitments in accordance with Section 2.19 shall require corporate action for the due
authorization thereof prior to the effectiveness of such increase.

 

46

 

(c) No authorization or approval or other action by, and no notice to or filing with, any
governmental authority or regulatory body or any other third party is required for the
due execution, delivery and performance by the Borrower of this Agreement or the Notes to be
delivered by it, provided that any increase of the Commitments in accordance with Section
2.19 and the extension of the Termination Date in accordance with Section 2.20 shall require
appropriate governmental or third party authorization thereof prior to the effectiveness of such
increase or such extension, as the case may be.

(d) This Agreement has been, and each of the Notes to be delivered by it when delivered
hereunder will have been, duly executed and delivered by the Borrower. This Agreement is, and each
of the Notes when delivered hereunder will be, the legal, valid and binding obligation of the
Borrower enforceable against the Borrower in accordance with their respective terms.

(e) The Consolidated balance sheet of the Borrower and its Subsidiaries as at September 30,
2010, and the related Consolidated statements of income and cash flows of the Borrower and its
Subsidiaries for the fiscal year then ended, accompanied by an opinion of PricewaterhouseCoopers
LLP, and the Consolidated balance sheet of the Borrower and its Subsidiaries as at December 31,
2010, and the related Consolidated statements of income and cash flows of the Borrower and its
Subsidiaries for three months then ended, copies of which have been included in the SEC Filings
prior to the date hereof, fairly present, subject, in the case of said balance sheet as at December
31, 2010, and said statements of income and cash flows for three months then ended, to year end
audit adjustments and the presentation of footnotes not required by Regulation S-X to be included
in interim financial statements, the Consolidated financial condition of the Borrower and its
Subsidiaries as at such dates and the Consolidated results of the operations of the Borrower and
its Subsidiaries for the periods ended on such dates, all in accordance with generally accepted
accounting principles consistently applied.

(f) There is no pending or threatened action, suit, investigation, litigation or proceeding,
including, without limitation, any Environmental Action, affecting the Borrower or any of its
Subsidiaries before any court, governmental agency or arbitrator that (i) would be reasonably
likely to have a Material Adverse Effect (other than the Disclosed Litigation) or (ii) purports to
affect the legality, validity or enforceability of this Agreement or any Note or the consummation
of the transactions contemplated hereby, and there has been no change in the status, or financial
effect on the Borrower or any of its Subsidiaries, of the Disclosed Litigation that would have a
Material Adverse Effect.

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

 

47

 

(h) The Borrower is not an “investment company”, or a company “controlled” by an “investment
company”, within the meaning of the Investment Company Act of 1940, as amended.

(i) Neither the Confidential Information Memorandum (other than any projections and other
information of a general economic or general industry nature included
therein) nor any other written information, exhibit or report furnished by the Borrower to the
Agent or any Lender pursuant to the terms of this Agreement, nor any of the information contained
herein, when taken as a whole, on the date so provided, contained any untrue statement of a
material fact or omitted to state a material fact necessary to make the statements made therein and
herein not misleading in light of the circumstances under which they were made.

(j) All financial projections included in the Confidential Information Memorandum furnished by
or on behalf of the Borrower have been, on the date provided, prepared in good faith based upon
assumptions believed by the Borrower to be reasonable at the time made, it being understood that
such projections are subject to significant uncertainties and contingencies, many of which are
beyond the Borrower’s control, that no assurance can be given that any particular projection will
be realized and that actual results may vary materially from projections.

(k) No ERISA Event has occurred or is reasonably expected to occur that, when taken together
with all other such ERISA Events for which liability is reasonably expected to occur, would
reasonably be expected to result in a Material Adverse Effect.

ARTICLE V

COVENANTS OF THE BORROWER

Section 5.01 Affirmative Covenants. So long as any Advance shall remain unpaid, any Letter of Credit shall remain outstanding,
any other amount shall remain unpaid hereunder or under any Note or any Lender shall have any
Commitment hereunder, the Borrower will:

(a) Compliance with Laws, Etc. Comply, and cause each of its Subsidiaries to comply
with all applicable laws, rules, regulations and orders, such compliance to include, without
limitation, compliance with ERISA, Environmental Laws and the Patriot Act, except where the
necessity of compliance therewith is contested in good faith by appropriate proceedings or except
where the failure to comply would not reasonably be expected to have a Material Adverse Effect.

(b) Payment of Taxes, Etc. Pay and discharge, and cause each of its Subsidiaries to
pay and discharge, before the same shall become delinquent, (i) all taxes, assessments and
governmental charges or levies imposed upon it or upon its property and (ii) all lawful claims
that, if unpaid, might by law become a Lien upon its property, except where the necessity of
compliance therewith is contested in good faith by appropriate proceedings, against which
appropriate reserves are being maintained in accordance with GAAP or except where the failure to
comply would not reasonably be expected to have a Material Adverse Effect.

 

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(c) Maintenance of Insurance. Maintain, and cause each of its Subsidiaries to
maintain, insurance with responsible and reputable insurance companies or associations in such
amounts and covering such risks as is usually carried by companies engaged in similar businesses
and owning similar properties in the same general areas in which the Borrower or such Subsidiary
operates; provided, however, that the Borrower and its Subsidiaries may self-insure to the extent
consistent with prudent business practice.

(d) Preservation of Corporate Existence, Etc. Preserve and maintain, and cause each
of its Subsidiaries to preserve and maintain, its corporate existence, rights (charter and
statutory) and franchises; provided, however, that the Borrower and its
Subsidiaries may consummate any merger or consolidation permitted under Section 5.02(b) and
provided further that neither the Borrower nor any of its Subsidiaries shall be required to
preserve any right or franchise if the Board of Directors of the Borrower or such Subsidiary shall
determine that the preservation thereof is no longer desirable in the conduct of the business of
the Borrower or such Subsidiary, as the case may be, and that the loss thereof is not
disadvantageous in any material respect to the Borrower and its Subsidiaries taken as a whole or
the Lenders.

(e) Visitation Rights. At reasonable times and upon five Business Days prior notice,
permit the Agent or any of the Lenders or any agents or representatives thereof at their respective
expense, to examine the records and books of account of, and visit the properties of, the Borrower
and any of its Subsidiaries, and to discuss the affairs, finances and accounts of the Borrower and
any of its Subsidiaries with any of their officers or directors and with their independent
certified public accountants.

(f) Keeping of Books. Keep, and cause each of its Subsidiaries to keep, proper books
of record and account, in which full and correct entries shall be made of all financial
transactions and the assets and business of the Borrower and each such Subsidiary in accordance
with generally accepted accounting principles in effect from time to time.

(g) Maintenance of Properties, Etc. Maintain and preserve, and cause each of its
Material Subsidiaries to maintain and preserve, all of its material properties that are necessary
in the conduct of its business in good working order and condition, ordinary wear and tear
excepted.

(h) Reporting Requirements. Furnish to the Lenders:

(i) as soon as available and in any event within 50 days after the end of each of the
first three quarters of each fiscal year of the Borrower, the Consolidated balance sheet of
the Borrower and its Subsidiaries as of the end of such quarter and Consolidated statements
of income and cash flows of the Borrower and its Subsidiaries for the period commencing at
the end of the previous fiscal year and ending with the end of such quarter, duly certified
(subject to year end audit adjustments and the presentation of footnotes not required by
Regulation S-X to be included in interim financial statements) by a Responsible Officer of
the Borrower as having been prepared in accordance with GAAP and certificates of a
Responsible Officer of the Borrower as to compliance with the terms of this Agreement and
setting forth in reasonable detail the calculations necessary to demonstrate compliance with
Section 5.03;

 

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(ii) as soon as available and in any event within 95 days after the end of each fiscal
year of the Borrower, a copy of the annual audit report for such year for the Borrower and
its Subsidiaries, containing the Consolidated balance sheet of the Borrower and its
Subsidiaries as of the end of such fiscal year and Consolidated statements of income and
cash flows of the Borrower and its Subsidiaries for such fiscal year, in each case
accompanied by an opinion acceptable to the Required Lenders by
PricewaterhouseCoopers LLP or other independent registered certified public accountants
of nationally recognized standing and certificates of a Responsible Officer of the Borrower
as to compliance with the terms of this Agreement and setting forth in reasonable detail the
calculations necessary to demonstrate compliance with Section 5.03;

(iii) as soon as possible and in any event within five Business Days after the
Borrower obtains knowledge of any Default continuing on the date of such statement, a
statement of a Responsible Officer of the Borrower setting forth details of such Default and
the action that the Borrower has taken and proposes to take with respect thereto;

(iv) promptly after the sending or filing thereof, copies of all reports that the
Borrower sends to any of its securityholders (other than UGI Corporation), and copies of all
reports and registration statements that the Borrower or any Subsidiary files with the
Securities and Exchange Commission or any national securities exchange;

(v) prompt notice of all actions and proceedings before any court, governmental agency
or arbitrator affecting the Borrower or any of its Subsidiaries of the type described in
Section 4.01(f); and

(vi) such other information respecting the Borrower or any of its Subsidiaries as any
Lender through the Agent may from time to time reasonably request. The financial statements
and other information required to be delivered pursuant to clauses (i), (ii) and (iv) of
this Section 5.01(h) shall be deemed to have been delivered on the date on which such
financial statements and other information are posted on the website of the Securities and
Exchange Commission at www.sec.gov and Borrower notifies Agent in writing thereof.

(i) Use of Proceeds and Letters of Credit. The proceeds of the Advances will be used for working capital, acquisitions, capital
expenditures and other general corporate purposes, including the refinancing of the credit facility
listed on Schedule 3.01(h) hereto. Letters of Credit will be used for the Borrower’s and its
Subsidiaries’ general corporate purposes.

 

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Section 5.02 Negative Covenants. So long as any Advance shall remain unpaid, any Letter of Credit shall remain outstanding,
any other amount shall remain unpaid hereunder or under any Note or any Lender shall have any
Commitment hereunder, the Borrower will not:

(a) Liens, Etc. Create or suffer to exist, or permit any of its Subsidiaries to
create or suffer to exist, any Lien on or with respect to any of its properties, whether now owned
or hereafter acquired, or assign, or permit any of its Subsidiaries to assign, any right to receive
income, other than:

(i) Permitted Liens,

(ii) Liens upon any property acquired, constructed or improved after the date hereof by
the Borrower or a Subsidiary which are created or incurred contemporaneously with or within
180 days after such acquisition, construction or improvement to secure or provide for the
payment of any part of the purchase price of such property or the cost of
such construction or improvement or Debt incurred to pay that purchase price or cost of
construction or improvement (but no other amounts), provided, however, that no such Lien
shall extend to or cover any properties of any character other than the real property or
equipment being acquired, and no such extension, renewal or replacement shall extend to or
cover any properties not theretofore subject to the Lien being extended, renewed or
replaced,

(iii) the Liens existing on the Effective Date and described on Schedule 5.02(a)
hereto,

(iv) Liens on property of a Person existing at the time such Person is merged into or
consolidated with the Borrower or any Subsidiary of the Borrower or becomes a Subsidiary of
the Borrower and Liens existing on assets at the time of their acquisition; provided that
such Liens were not created in contemplation of such merger, consolidation or acquisition
and do not extend to any assets other than those of the Person so merged into or
consolidated with the Borrower or such Subsidiary or acquired by the Borrower or such
Subsidiary or those assets so acquired, as the case may be,

(v) Liens arising from legal proceedings being contested by the Borrower in good faith
by appropriate legal or administrative proceedings,

(vi) Liens on cash and cash equivalents securing obligations pursuant to
non-speculative Hedge Agreements,

(vii) Liens arising from legal proceedings being contested by the Borrower in good
faith by appropriate legal or administrative proceedings,

(viii) Liens arising from Section 302 of ERISA or pursuant to the PBGC’s authority
under Title IV of ERISA in an aggregate principal amount not to exceed $25,000,000 at any
time outstanding,

(ix) Liens arising pursuant to any Non-recourse Debt,

(x) Liens arising in connection with the issuance of industrial revenue bonds or
pollution control bonds,

 

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(xi) Liens created in connection with inventory management agreements in the ordinary
course of business that do not in the aggregate materially detract from the value of the
Borrower’s Consolidated assets or materially impair the use thereof in the operation of its
business,

(xii) other Liens securing Debt or other obligations in an aggregate principal amount
not to exceed 5% of the Consolidated Total Capital at any time outstanding, and

(xiii) the replacement, extension or renewal of any Lien permitted by clause (iii) or
(iv) above upon or in the same property theretofore subject thereto or the replacement,
extension or renewal (without increase in the amount or change in any direct or contingent
obligor) of the Debt secured thereby.

(b) Mergers, Etc. Merge or consolidate with or into, or convey, transfer, lease or
otherwise dispose of (whether in one transaction or in a series of transactions) all or
substantially all of its assets (whether now owned or hereafter acquired) to, any Person, or permit
any of its Subsidiaries to do so, except that any Subsidiary of the Borrower may merge or
consolidate with or into, or dispose of assets to, any other Subsidiary of the Borrower, and except
that any Subsidiary of the Borrower may merge into or dispose of assets to the Borrower and the
Borrower may merge with any other Person so long as the Borrower is the surviving corporation,
provided, in each case, that no Default shall have occurred and be continuing at the time of such
proposed transaction or would result therefrom.

(c) Accounting Changes. Make or permit, or permit any of its Subsidiaries to make or
permit, any change in accounting policies or reporting practices, except as required or permitted
by generally accepted accounting principles.

(d) Change in Nature of Business. Make, or permit any of its Subsidiaries to make,
any material change in the nature of its business as carried on at the date hereof.

Section 5.03 Financial Covenant. So long as any Advance shall remain unpaid, any Letter of Credit shall remain outstanding,
any other amount shall remain unpaid hereunder or under any Note or any Lender shall have any
Commitment hereunder, the Borrower will maintain a ratio of Consolidated Debt to the Consolidated
Total Capital of not greater than 0.65:1.00.

ARTICLE VI

EVENTS OF DEFAULT

Section 6.01 Events of Default. If any of the following events (“Events of Default”) shall occur and be continuing:

(a) The Borrower shall fail to pay any principal of any Advance, Letter of Credit Borrowing or
Reimbursement Obligation when the same becomes due and payable; or the Borrower shall fail to pay
any interest on any Advance, Letter of Credit Borrowing or Reimbursement Obligation or fail to make
any other payment of fees or other amounts payable under this Agreement or any Note within five
Business Days after the same becomes due and payable; or

 

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(b) Any representation or warranty made by the Borrower herein or by the Borrower (or any of
its officers) in connection with this Agreement shall prove to have been incorrect in any material
respect (or any representation or warranty which is already qualified as to materiality or by
reference to a Material Adverse Effect shall prove to have been incorrect in any respect) when made
or deemed made; or

(c) (i) The Borrower shall fail to perform or observe any term, covenant or agreement
contained in Section 5.01(d), (e) or (h)(iii), 5.02 or 5.03, or (ii) the Borrower shall fail to
perform or observe any term, covenant or agreement contained in Section 5.01(h) (other than clause
(iii) thereof) if such failure shall remain unremedied for 5 days after written notice thereof
shall have been given to the Borrower by the Agent or any Lender; or (iii) the Borrower shall
fail to perform or observe any other term, covenant or agreement contained in this Agreement on its
part to be performed or observed if such failure shall remain unremedied for 30 days after written
notice thereof shall have been given to the Borrower by the Agent or any Lender; or

(d) The Borrower or any of its Subsidiaries shall fail to pay any principal of or premium or
interest on any Debt that is outstanding in a principal or notional amount of at least $25,000,000
in the aggregate (but excluding Debt outstanding hereunder) of the Borrower or such Subsidiary (as
the case may be), when the same becomes due and payable (whether by scheduled maturity, required
prepayment, acceleration, demand or otherwise), and such failure shall continue after the
applicable grace period, if any, specified in the agreement or instrument relating to such Debt; or
any other event shall occur or condition shall exist under any agreement or instrument relating to
any such Debt and shall continue after the applicable grace period, if any, specified in such
agreement or instrument, if the effect of such event or condition is to accelerate, or to permit
the acceleration of, the maturity of such Debt; or any such Debt shall be declared to be due and
payable, or required to be prepaid or redeemed (other than by a regularly scheduled required
prepayment or redemption), purchased or defeased, or an offer to prepay, redeem, purchase or
defease such Debt shall be required to be made, in each case prior to the stated maturity thereof;
or

(e) The Borrower or any of its Material Subsidiaries shall generally not pay its debts as such
debts become due, or shall admit in writing its inability to pay its debts generally, or shall make
a general assignment for the benefit of creditors; or any proceeding shall be instituted by or
against the Borrower or any of its Material Subsidiaries seeking to adjudicate it a bankrupt or
insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection,
relief, or composition of it or its debts under any law relating to bankruptcy, insolvency or
reorganization or relief of debtors, or seeking the entry of an order for relief or the appointment
of a receiver, trustee, custodian or other similar official for it or for any substantial part of
its property and, in the case of any such proceeding instituted against it (but not instituted by
it), either such proceeding shall remain undismissed or unstayed for a period of 60 days, or any of
the actions sought in such proceeding (including, without limitation, the entry of an order for
relief against, or the appointment of a receiver, trustee, custodian or other similar official for,
it or for any substantial part of its property) shall occur; or the Borrower or any of its Material
Subsidiaries shall take any corporate action to authorize any of the actions set forth above in
this subsection (e); or

 

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(f) Judgments or orders for the payment of money in excess of $25,000,000 in the aggregate
shall be rendered against the Borrower or any of its Material Subsidiaries and either (i)
enforcement proceedings shall have been commenced by any creditor upon such judgment or order or
(ii) there shall be any period of 30 consecutive days during which a stay of enforcement of such
judgment or order, by reason of a pending appeal or otherwise, shall not be in effect; or

(g) (i) Any Person or two or more Persons acting in concert (other than UGI Corporation)
shall have acquired beneficial ownership (within the meaning of Rule 13d-3 of the Securities and
Exchange Commission under the Securities Exchange Act of 1934), directly or indirectly, of Voting
Stock of the Borrower (or other securities convertible into such Voting
Stock) representing 30% or more of the combined voting power of all Voting Stock of the
Borrower; or (ii) during any period of up to 12 consecutive months, commencing after the date of
this Agreement, a majority of the members of the board of directors of the Borrower cease to be
composed of individuals (x) who were members of that board on the first day of such period, (y)
whose election or nomination to that board was approved by individuals referred to in clause (x)
above constituting at the time of such election or nomination at least a majority of that board or
(z) whose election or nomination to that board was approved by individuals referred to in clauses
(x) and (y) above constituting at the time of such election or nomination at least a majority of
that board (excluding, in the case of both clause (y) and clause (z), any individual whose initial
nomination for, or assumption of office as, a member of that board occurs as a result of an actual
or threatened solicitation of proxies or consents for the election or removal of one or more
directors by any person or group other than a solicitation for the election of one or more
directors by or on behalf of the board of directors); or (iii) the Borrower shall cease for any
reason to be directly or indirectly wholly-owned by UGI Corporation; or

(h) The Borrower or any of its ERISA Affiliates shall incur, or be reasonably likely to incur,
liability in excess of $25,000,000 as a result of one or more ERISA Events described in
subsections (c), (f) or (h) of the definition of ERISA Event, or shall fail to pay when due an
amount or amounts aggregating in excess of $25,000,000 as a result of one or more of the following:
(i) the occurrence of any other ERISA Event; (ii) the partial or complete withdrawal of the
Borrower or any of its ERISA Affiliates from a Multiemployer Plan; or (iii) the reorganization or
termination of a Multiemployer Plan;

 

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then, and in any such event, the Agent (i) shall at the request, or may with the consent, of the
Required Lenders, by notice to the Borrower, declare the obligation of each Lender and each Issuing
Lender to make Advances or issue, amend, renew or extend Letters of Credit to be terminated,
whereupon the same shall forthwith terminate, (ii) shall at the request, or may with the consent,
of the Required Lenders, by notice to the Borrower, declare the Advances, all interest thereon and
all other amounts payable under this Agreement to be forthwith due and payable, whereupon the
Advances, all such interest and all such amounts shall become and be forthwith due and payable,
without presentment, demand, protest or further notice of any kind, all of which are hereby
expressly waived by the Borrower (including, without limitation, all Letter of Credit Obligations,
whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the
documents required thereunder) and (iii) shall at the request, or may with the consent, of the
Required Lenders, by notice to the Borrower require the Borrower to, and the Borrower shall
thereupon, deposit in a non-interest bearing account with the Agent, as cash collateral for its
obligations under this Agreement, an amount equal to 100% of the maximum amount currently or at any
time thereafter available to be drawn on all outstanding Letters of Credit, and the Borrower hereby
pledges to the Agent, the Issuing Lenders and the Lenders, and grants to the Agent, the Issuing
Lenders and the Lenders a security interest in, all such cash as security for such obligations.
Amounts held in such cash collateral account shall be applied by the Agent to the payment of drafts
drawn under the Letters of Credit, and the unused portion thereof after all the Letters of Credit
shall have expired or been fully drawn upon, if any, shall be applied to repay other obligations of
the Borrowers hereunder and under the other Loan Documents; provided, that, with
the consent of the Issuing Lender, the Agent may at any time apply any funds in such cash
collateral account to any such obligations other than those in respect of Letters of Credit. After
all the Letters of Credit shall have expired or been fully drawn
upon, all Letter of Credit Obligations shall have been satisfied and all other obligations of the
Borrower hereunder and under the Notes and other Loan Documents shall have been paid in full, the
balance, if any, in such cash collateral account shall be returned to the Borrower (or such other
Person or Persons as may be lawfully entitled thereto). The Borrower shall execute and deliver to
the Agent, for the account of the Issuing Lenders and the Lenders, such further documents and
instruments as the Agent may request to evidence the creation and perfection of the within security
interest in such cash collateral account; provided, however, that in the event of an actual or
deemed entry of an order for relief with respect to the Borrower under the Federal Bankruptcy Code,
(A) the obligation of each Lender to make Advances or issue Letters of Credit shall automatically
be terminated and (B) the Advances, all such interest and all such amounts shall automatically
become and be due and payable, without presentment, demand, protest or any notice of any kind, all
of which are hereby expressly waived by the Borrower.

ARTICLE VII

THE AGENT

Section 7.01 Appointment and Authority. Each of the Lenders and each of the Issuing Lenders hereby irrevocably appoints PNC to act
on its behalf as the Agent hereunder and under the other Loan Documents and authorizes the Agent to
take such actions on its behalf and to exercise such powers as are delegated to the Agent by the
terms hereof or thereof, together with such actions and powers as are reasonably incidental
thereto. The provisions of this Article VII are solely for the benefit of the Agent, the Lenders
and the Issuing Lenders, and the Borrower shall not have rights as a third party beneficiary of any
of such provisions.

Section 7.02 Rights as a Lender. The Person serving as the 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 Agent
and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or
unless the context otherwise requires, include the Person serving as the Agent hereunder in its
individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act
as the financial advisor or in any other advisory capacity for and generally engage in any kind of
business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not
the Agent hereunder and without any duty to account therefor to the Lenders. In the event that PNC
or any of its Affiliates shall be or become an indenture trustee under the Trust Indenture Act of
1939 (as amended, the “Trust Indenture Act”) in respect of any securities issued or
guaranteed by the Borrower, the parties hereto acknowledge and agree that any payment or property
received in satisfaction of or in respect of any obligation of the Borrower hereunder or under any
other Loan Document by or on behalf of PNC in its capacity as the Agent for the benefit of any
Lender under this Agreement or any Note (other than PNC or an Affiliate of PNC) and which is
applied in accordance with this Agreement shall be deemed to be exempt from the requirements of
Section 311 of the Trust Indenture Act pursuant to Section 311(b)(3) of the Trust Indenture Act.

 

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Section 7.03 Exculpatory Provisions. The 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 Agent:

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

(b) shall not have any duty to take any discretionary action or exercise any discretionary
powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan
Documents that the 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 Agent shall not be required to take any action
that, in its opinion or the opinion of its counsel, may expose the Agent to liability or that is
contrary to any Loan Document or applicable law; and

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

The 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 Agent shall believe in good faith shall be necessary, under the
circumstances as provided in Sections 6.01 and 8.01) in the absence of its own gross negligence or
willful misconduct. The Agent shall be deemed not to have knowledge of any Default or Event of
Default unless and until notice describing such Default or Event of Default is given to the Agent
by the Borrower, a Lender or the Issuing Lender.

The 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 or Event of 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 Section 3 or elsewhere herein, other
than to confirm receipt of items expressly required to be delivered to the Agent.

 

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Section 7.04 Reliance by Agent. The 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 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 an Advance, or
the issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a
Lender or an Issuing Lender, the Agent may presume that such condition is satisfactory to such
Lender or such Issuing Lender unless the Agent shall have received notice to the contrary from such
Lender or such Issuing Lender prior to the making of such Advance or the issuance of such Letter of
Credit. The Agent may consult with legal
counsel (who may be counsel for the Borrower), independent accountants and other experts
selected by it, and shall not be liable for any action taken or not taken by it in accordance with
the advice of any such counsel, accountants or experts.

Section 7.05 Delegation of Duties. The 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 Agent. The 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 Affiliates. The exculpatory provisions of this
Article 7 shall apply to any such sub-agent and to the Affiliates of the 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 Agent.

Section 7.06 Resignation of Agent. The Agent may at any time give notice of its resignation to the Lenders, the Issuing
Lenders and the Borrower. Upon receipt of any such notice of resignation, the Required Lenders
shall have the right, with approval from the Borrower (so long as no Event of Default has occurred
and is continuing), to appoint a successor, such approval not to be unreasonably withheld or
delayed. If no such successor shall have been so appointed by the Required Lenders and shall have
accepted such appointment within thirty (30) days after the retiring Agent gives notice of its
resignation, then the Borrower (so long as no Event of Default has occurred and is continuing) may
appoint a successor agent, which successor may be replaced by the Required Lenders; provided that
such replacement is, so long as no Event of Default has occurred and is continuing, reasonably
acceptable to the Borrower. If no successor shall have been so appointed by the Required Lenders
or the Borrower within sixty (60) days after the retiring Agent gives notice of its resignation,
then the retiring Agent may on behalf of the Lenders and the Issuing Lenders, appoint a successor
Agent; provided that if the Agent shall notify the Borrower and the Lenders that no
qualifying Person has accepted such appointment, then such resignation shall nonetheless become
effective in accordance with such notice and (a) the retiring Agent shall be discharged from its
duties and obligations hereunder and under the other Loan Documents (except that in the case of
collateral security, if any, held by the Agent on behalf of the Lenders or the Issuing Lenders
under any of the Loan Documents, the retiring Agent shall continue to hold such collateral security
until such time as a successor Agent is appointed) and (b) all payments, communications and
determinations provided to be made by, to or through the Agent shall instead be made by or to each
Lender and each Issuing Lender directly, until such time as the Required Lenders appoint a
successor Agent as provided for above in this Section 7.06. Upon the acceptance of a successor’s
appointment as Agent hereunder, such successor shall succeed to and become vested with all of the
rights, powers, privileges and duties of the retiring (or retired) Agent, and the retiring Agent
shall be discharged from all of its duties and obligations hereunder or under the other Loan
Documents (if not already discharged therefrom as provided above in this Section). The fees
payable by the Borrower to a successor Agent shall be the same as those payable to its predecessor
unless otherwise agreed between the Borrower and such successor. After the retiring Agent’s
resignation hereunder and under the other Loan Documents, the provisions of this Article 7 and
Section 8.04 shall continue in effect for the benefit of such retiring Agent, its sub-agents and
their respective Affiliates in respect of any actions taken or omitted to be taken by any of them
while the retiring Agent was acting as Agent.

 

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If PNC resigns as Agent under this Section 7.06, PNC shall also resign as an Issuing Lender.
Upon the appointment of a successor Agent hereunder, such successor shall (i) succeed to all of the
rights, powers, privileges and duties of PNC as the retiring Issuing Lender and Agent and PNC shall
be discharged from all of its respective duties and obligations as Issuing Lender and Agent under
the Loan Documents, and (ii) issue letters of credit in substitution for the Letters of Credit
issued by PNC, if any, outstanding at the time of such succession or make other arrangement
satisfactory to PNC to effectively assume the obligations of PNC with respect to such Letters of
Credit.

Section 7.07 Non-Reliance on Agent and Other Lenders. Each Lender and each Issuing Lender acknowledges that it has, independently and without
reliance upon the Agent or any other Lender or any of their Affiliates 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 each Issuing Lender also acknowledges that it will,
independently and without reliance upon the Agent or any other Lender or any of their Affiliates
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.

Section 7.08 No Reliance on Agent’s Customer Identification Program. Each Lender acknowledges and agrees that neither such Lender, nor any of its Affiliates,
participants or assignees, may rely on the Agent to carry out such Lender’s, Affiliate’s,
participant’s or assignee’s customer identification program, or other obligations required or
imposed under or pursuant to the USA Patriot Act or the regulations thereunder, including the
regulations contained in 31 CFR 103.121 (as hereafter amended or replaced, the “CIP
Regulations”), or any other Anti-Terrorism Law, including any programs involving any of the
following items relating to or in connection with the Borrower, its Affiliates or its agents, the
Loan Documents or the transactions hereunder or contemplated hereby: (a) any identity verification
procedures, (b) any recordkeeping, (c) comparisons with government lists, (d) customer notices or
(e) other procedures required under the CIP Regulations or such other Laws.

 

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Section 7.09 Indemnification. The Lenders agree to indemnify the Agent and the Issuing Lenders (to the extent not
reimbursed by the Borrower), ratably according to their respective Ratable Shares, from and against
any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements of any kind or nature whatsoever that may be imposed on, incurred by, or
asserted against the Agent or any Issuing Lender in any way relating to or arising out of this
Agreement or the other Loan Documents or any action taken or omitted by the Agent or any Issuing
Lender under this Agreement or the other Loan Documents (collectively, the “Indemnified
Costs”), provided that no Lender shall be liable (i) to the Agent for any portion of
the Indemnified Costs resulting from the Agent’s gross negligence or willful misconduct or (ii) to
an Issuing Lender for any portion of the Indemnified Costs resulting from such Issuing Lender’s
gross negligence or willful misconduct. Without limitation of the foregoing, each Lender agrees to
reimburse the Agent and the Issuing Lender promptly upon demand for its Ratable Share of any
out-of-pocket expenses (including counsel fees) incurred by the Agent or the Issuing Lender in
connection with the preparation, execution, delivery, administration, modification, amendment or
enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in
respect of rights or
responsibilities under, this Agreement or the other Loan Documents, to the extent that the
Agent or the Issuing Lender, as the case may be, is not reimbursed for such expenses by the
Borrower. In the case of any investigation, litigation or proceeding giving rise to any
Indemnified Costs, this Section 7.09 applies whether any such investigation, litigation or
proceeding is brought by the Agent, any Issuing Lender, any Lender or a third party.

Section 7.10 No Other Duties, etc. Anything herein to the contrary notwithstanding, none of the syndication agent or any other
Person designated as any “Agent”, “Arranger” or “Bookrunner” 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 and the extent applicable, as the Agent, a Lender or an
Issuing Lender hereunder.

ARTICLE VIII

MISCELLANEOUS

Section 8.01 Amendments, Etc.
No amendment or waiver of any provision of this Agreement or any Note, nor consent to any
departure by the Borrower therefrom, shall in any event be effective unless the same shall be in
writing and signed by the Required Lenders and the Borrower, and then such waiver or consent shall
be effective only in the specific instance and for the specific purpose for which given; provided,
however, that no amendment, waiver or consent shall, unless in writing (a) signed by each of the
Lenders affected thereby, do any of the following: (i) increase the Commitments of the Lenders
(other than as contemplated by Section 2.19), (ii) reduce the principal of, or interest on, the
Advances, the Letter of Credit Obligations or any fees or other amounts payable hereunder, or (iii)
postpone any date fixed for any payment of principal of, or interest on, the Advances or any fees
or other amounts payable hereunder or (b) signed by all of the Lenders, do any of the following:
(i) waive any of the conditions specified in Section 3.01, (ii) change the percentage of the
Commitments (other than an adjustment in connection with a Commitment Increase) or of the aggregate
unpaid principal amount of the Advances and Letter of Credit Obligations, or the number of Lenders,
that shall be required for the Lenders or any of them to take any action hereunder or (iii) amend
this Section 8.01. Notwithstanding the foregoing, no amendment, waiver or consent shall affect the
rights or duties of the Agent, an Issuing Lender or the Swing Line Lender under this Agreement or
any other Loan Document unless in writing and signed by the Agent, such Issuing Lender and/or the
Swing Line Lender, as the case may be, in addition to the Lenders required above to take such
action.

 

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Section 8.02 Notices, Etc.

(a) All notices and other communications provided for hereunder shall be either (x) in writing
(including telecopier or other electronic communication) and mailed, electronically transmitted or
delivered or (y) as and to the extent set forth in Section 8.02(b), if to the Borrower, at its
address at 2525 North 12th Street, Suite 360, Reading, PA 19612, Attention: Treasurer,
with a copy to UGI Utilities, Inc., Box 858, Valley Forge, PA 19482, Attention: General Counsel; if
to any Initial Lender, at its Domestic Lending Office specified opposite its name on Schedule I
hereto; if to any other Lender, at its Domestic Lending Office specified in the Assumption
Agreement or the Assignment and Assumption pursuant to which it became a Lender; and if to the
Agent or the Issuing Lender, at its address at 1600 Market Street,
Philadelphia, Pennsylvania 19103, Attention: Meredith Jermann with a copy to Agency Services,
PNC Firstside Center, 500 First Avenue, 4th Floor, Pittsburgh, PA 15219, Attention: Lisa
Pierce; or, as to the Borrower or the Agent, at such other address as shall be designated by such
party in a written notice to the other parties and, as to each other party, at such other address
as shall be designated by such party in a written notice to the Borrower and the Agent, except as
otherwise provided in Section 8.02(b) below. All such notices and communications shall, when
mailed or electronically transmitted, be effective when deposited in the mail or confirmed by
electronic transmission, respectively, except that notices and communications to the Agent or the
Issuing Lender pursuant to Article II, III or VII shall not be effective until received by the
Agent. Delivery by telecopier or other electronic imaging of an executed counterpart of any
amendment or waiver of any provision of this Agreement or the Notes or of any Exhibit hereto to be
executed and delivered hereunder shall be effective as delivery of a manually executed counterpart
thereof.

(b) So long as PNC or any of its Affiliates is the Agent, materials required to be delivered
pursuant to Section 5.01(h)(i), (ii) and (iv) shall be delivered to the Agent as set forth in
Section 5.01 or as otherwise approved by the Agent. The Borrower agrees that the Agent may make
such materials, as well as any other written information, documents, instruments and other material
relating to the Borrower, any of its Subsidiaries or any other materials or matters relating to
this Agreement, the Notes or any of the transactions contemplated hereby (collectively, the
“Communications”) available to the Lenders by posting such notices on Syndtrak, Intralinks
or a substantially similar electronic system (the “Platform”). The Borrower acknowledges
that (i) the distribution of material through an electronic medium is not necessarily secure and
that there are confidentiality and other risks associated with such distribution, (ii) the Platform
is provided “as is” and “as available” and (iii) neither the Agent nor any of its Affiliates
warrants the accuracy, adequacy or completeness of the Communications or the Platform and each
expressly disclaims liability for errors or omissions in the Communications or the Platform. No
warranty of any kind, express, implied or statutory, including, without limitation, 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 the Agent or any of its Affiliates in
connection with the Platform.

 

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(c) Each Lender and each Issuing Lender agrees that notices and communications to such Lender
or such Issuing Lender hereunder may be delivered or furnished by e-mail communication or other
electronic communication (a “Notice”), including by specifying that any Communications have
been posted to the Platform, which in each such case constitute effective delivery of such
information, documents or other materials to such Lender or such Issuing Lender for purposes of
this Agreement; provided that the foregoing shall not apply to notices to any Lender or any
Issuing Lender if such Lender or such Issuing Lender, as applicable, has notified the Agent that it
is incapable of receiving notices by electronic communication. Each Lender agrees (x) to notify
the Agent in writing of such Lender’s e-mail address to which a Notice may be sent by electronic
transmission (including by electronic communication) on or before the date such Lender becomes a
party to this Agreement (and from time to time thereafter to ensure that the Agent has on record an
effective e-mail address for such Lender) and (y) that any Notice may be sent to such e-mail
address. Unless the Agent otherwise prescribes, (i) notices and other communications sent to an
e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the
intended recipient (such as
by the “return receipt requested” function, as available, return e-mail or other written
acknowledgement); provided that if such notice or other communication is not sent during
the normal business hours of the recipient, such notice or communication shall be deemed to have
been sent at the opening of business on the next Business Day for the recipient, and (ii) notices
or communications posted to an Internet or intranet website shall be deemed received upon the
deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause
(i) of notification that such notice or communication is available and identifying the website
address therefor.

Section 8.03 No Waiver; Remedies. No failure on the part of any Lender or the Agent to exercise, and no delay in exercising,
any right hereunder or under any Note shall operate as a waiver thereof; nor shall any single or
partial exercise of any such right preclude any other or further exercise thereof or the exercise
of any other right. The remedies herein provided are cumulative and not exclusive of any remedies
provided by law.

Section 8.04 Costs and Expenses.

(a) The Borrower agrees to pay on demand all costs and expenses of the Agent in connection
with the preparation, execution, delivery, administration, modification and amendment of this
Agreement, the Notes, the Letters of Credit issued hereunder and the other documents to be
delivered hereunder, including, without limitation, (A) all due diligence, syndication (including
printing, distribution and bank meetings), transportation, computer, duplication, appraisal,
consultant, and audit expenses and (B) the reasonable and documented fees and expenses of counsel
for the Agent with respect thereto and with respect to advising the Agent as to its rights and
responsibilities under this Agreement or any amendment, supplement or modification of, or any
waiver or consent under or in respect of (or any proposed amendment or supplement to or
modification or waiver of), this Agreement, the other Loan Documents and any such other documents.
The Borrower further agrees to pay promptly all costs and expenses (including, without limitation,
reasonable and documented counsel fees and expenses) of (i) each Issuing Lender in connection with
the issuance, amendment, renewal or extension of any Letter of Credit issued by such Issuing Lender
or any demand for payment thereunder, (ii) the Agent in connection with any workout, restructuring
or negotiations in respect of the Advances, Swing Line Advances or Letters of Credit or other
obligation hereunder or under the other Loan Documents and (iii) the Agent, the Lenders and the
Issuing Lenders in connection with the enforcement (whether through negotiations, legal proceedings
or otherwise) of this Agreement, the Notes and the other documents to be delivered hereunder,
including, without limitation, reasonable fees and expenses of counsel for the Agent and each
Lender in connection with the enforcement or preservation of any rights under this Agreement and
the other Loan Documents.

 

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(b) The Borrower agrees to indemnify and hold harmless the Agent, each Lender, each Issuing
Lender, any Person named as Syndication Agent, Arranger or Bookrunner on the cover page of this
Agreement, and each of their Affiliates and their officers, directors, employees, agents and
advisors (each, an “Indemnified Party”) from and against any and all claims, damages,
losses, liabilities and reasonable expenses (including, without limitation, reasonable fees and
expenses of counsel) incurred by or asserted or awarded against any Indemnified Party, in each case
arising out of or in connection with or by reason of (including, without limitation, in connection
with any investigation, litigation or proceeding or preparation
of a defense in connection therewith) (i) the Notes, this Agreement, any Letter of Credit
(including (x) any refusal by an Issuing Lender 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 or (y) any dishonor by an Issuing Lender or any of such Issuing
Lender’s Affiliates of a proper demand for payment made under any Letter of Credit if such dishonor
resulted from any act or omission, whether rightful or wrongful, of any present or future de jure
or de facto government or Official Body), any of the transactions contemplated herein or the actual
or proposed use of the proceeds of the Advances or (ii) the actual or alleged presence of Hazardous
Materials on any property of the Borrower or any of its Subsidiaries or any Environmental Action
relating in any way to the Borrower or any of its Subsidiaries, except to the extent such claim,
damage, loss, liability or expense (a) is found in a final, non-appealable judgment by a court of
competent jurisdiction to have resulted from such Indemnified Party’s gross negligence or willful
misconduct or (b) results from a claim, litigation, investigation or proceeding brought by one
Indemnified Person against another Indemnified Person that does not involve an act or omission by,
or a condition relating to, the Borrower or any Affiliate thereof. In the case of an
investigation, litigation or other proceeding to which the indemnity in this Section 8.04(b)
applies, such indemnity shall be effective whether or not such investigation, litigation or
proceeding is brought by the Borrower, its directors, equityholders or creditors or an Indemnified
Party or any other Person, whether or not any Indemnified Party is otherwise a party thereto and
whether or not the transactions contemplated hereby are consummated. The Borrower also agrees not
to assert any claim for special, indirect, consequential or punitive damages against the Agent, any
Lender, any of their Affiliates, or any of their respective directors, officers, employees,
attorneys and agents, on any theory of liability, arising out of or otherwise relating to the
Notes, this Agreement, any of the transactions contemplated herein or the actual or proposed use of
the proceeds of the Advances.

(c) If any payment of principal of, or Conversion of, any Eurodollar Rate Advance is made by
the Borrower to or for the account of a Lender other than on the last day of the Interest Period
for such Advance, as a result of a payment or Conversion pursuant to Section 2.09(d) or (e), 2.11
or 2.13, acceleration of the maturity of the Notes pursuant to Section 6.01 or for any other
reason, or by an Eligible Assignee to a Lender other than on the last day of the Interest Period
for such Advance upon an assignment of rights and obligations under this Agreement pursuant to
Section 8.07 as a result of a demand by the Borrower pursuant to Section 8.07(a), the Borrower
shall, upon demand by such Lender (with a copy of such demand to the Agent), pay to the Agent for
the account of such Lender any amounts required to compensate such Lender for any additional
losses, costs or expenses that it may reasonably incur as a result of such payment or Conversion,
including, without limitation, any loss (excluding loss of anticipated profits), cost or expense
incurred by reason of the liquidation or reemployment of deposits or other funds acquired by any
Lender to fund or maintain such Advance.

 

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(d) Without prejudice to the survival of any other agreement of the Borrower hereunder, the
agreements and obligations of the Borrower contained in Sections 2.12, 2.15 and 8.04 shall survive
the payment in full of principal, interest and all other amounts payable hereunder and under the
Notes and the Letters of Credit.

Section 8.05 Right of Set off. Upon either (a) the occurrence and during the continuance of any Event of Default under
Section 6.01(a) or 6.01(e) or (b) (i) the occurrence
and during the continuance of any other Event of Default and (ii) the making of the request or
the granting of the consent specified by Section 6.01 to authorize the Agent to declare the Notes
due and payable pursuant to the provisions of Section 6.01, each Lender and each Issuing Lender and
each of their Affiliates is hereby authorized at any time and from time to time, to the fullest
extent permitted by law, to set off and apply any and all deposits (general or special, time or
demand, provisional or final) at any time held and other indebtedness at any time owing by such
Lender, such Issuing Lender or such Affiliate to or for the credit or the account of the Borrower
against any and all of the obligations of the Borrower now or hereafter existing under this
Agreement and the Note(s) held by such Lender, whether or not such Issuing Lender or such Lender
shall have made any demand under this Agreement or such Note and although such obligations may be
unmatured. Each Lender agrees promptly to notify the Borrower after any such set off and
application, provided that the failure to give such notice shall not affect the validity of
such set off and application. The rights of each Lender and its Affiliates under this Section are
in addition to other rights and remedies (including, without limitation, other rights of set off)
that such Lender and its Affiliates may have.

Section 8.06 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Borrower, the Agent
and each Lender and their respective successors and assigns, except that the Borrower shall not
have the right to assign its rights hereunder or any interest herein without the prior written
consent of the Lenders.

 

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Section 8.07 Assignments and Participations.

(a) Each Lender may and, if demanded by the Borrower (following a demand by such Lender
pursuant to Section 2.12 or 2.15 or notice from such Lender under Section 2.13) upon at least five
Business Days’ notice to such Lender and the Agent, will assign to one or more Persons all or a
portion of its rights and obligations under this Agreement (including, without limitation, all or a
portion of its Commitment, the Advances owing to it, its interest in any outstanding Letters of
Credit and Swing Line Advances and the Note or Notes held by it); provided, however, that (i) each
such assignment shall be of a constant, and not a varying, percentage of all rights and obligations
under this Agreement, (ii) except in the case of an assignment to a Person that, immediately prior
to such assignment, was a Lender or an assignment of all of a Lender’s rights and obligations under
this Agreement, the amount of the Commitment of the assigning Lender being assigned pursuant to
each such assignment (determined as of the date of the Assignment and Assumption with respect to
such assignment) shall in no event be less than $5,000,000 or an integral multiple of $1,000,000 in
excess thereof unless the Borrower and the Agent otherwise agree, (iii) each such assignment shall
be to an Eligible Assignee, (iv) each such assignment made as a result of a demand by the Borrower
pursuant to this Section 8.07(a) shall be arranged by the Borrower after consultation with the
Agent and shall be either an assignment of all of the rights and obligations of the assigning
Lender under this Agreement or an assignment of a portion of such rights and obligations made
concurrently with another such assignment or other such assignments that together cover all of the
rights and obligations of the assigning Lender under this Agreement, (v) no Lender shall be
obligated to make any such assignment as a result of a demand by the Borrower pursuant to this
Section 8.07(a) unless and until such Lender shall have received one or more payments from either
the Borrower or one or more Eligible Assignees in an aggregate amount at least equal to the
aggregate outstanding principal amount of the Advances owing to such Lender, together with
accrued interest thereon to the date of payment of such principal amount and all other amounts
payable to such Lender under this Agreement, (vi) the Swing Line Commitment and all outstanding
Swing Line Advances may only be assigned in their entirety to a Lender then having a Commitment,
and (vii) the parties to each such assignment shall execute and deliver to the Agent, for its
acceptance and recording in the Register, an Assignment and Assumption, together with any Revolving
Credit Note or Swing Line Note subject to such assignment and a processing and recordation fee of
$3,500 payable by the parties to each such assignment, provided, however, that in the case of each
assignment made as a result of a demand by the Borrower, such recordation fee shall be payable by
the Borrower except that no such recordation fee shall be payable in the case of an assignment made
at the request of the Borrower to an Eligible Assignee that is an existing Lender. Upon such
execution, delivery, acceptance and recording, from and after the effective date specified in each
Assignment and Assumption, (x) the assignee thereunder shall be a party hereto and, to the extent
that rights and obligations hereunder have been assigned to it pursuant to such Assignment and
Assumption, have the rights and obligations of a Lender hereunder and (y) the Lender assignor
thereunder shall, to the extent that rights and obligations hereunder have been assigned by it
pursuant to such Assignment and Assumption, relinquish its rights (other than its rights under
Sections 2.12, 2.15 and 8.04 to the extent any claim thereunder relates to an event arising prior
to such assignment) and be released from its obligations under this Agreement (and, in the case of
an Assignment and Assumption covering all or the remaining portion of an assigning Lender’s rights
and obligations under this Agreement, such Lender shall cease to be a party hereto).

(b) Upon its receipt of an Assignment and Assumption executed by an assigning Lender and an
assignee representing that it is an Eligible Assignee, together with any Note or Notes subject to
such assignment, the Agent shall, if such Assignment and Assumption has been completed and is in
substantially the form of Exhibit C hereto, (i) accept such Assignment and Assumption, (ii) record
the information contained therein in the Register and (iii) give prompt notice thereof to the
Borrower.

(c) The Agent shall maintain at its address referred to in Section 8.02 a copy of each
Assumption Agreement and each Assignment and Assumption delivered to and accepted by it and a
register for the recordation of the names and addresses of the Lenders and the Commitment of, and
principal amount of the Advances owing to, each Lender from time to time (the “Register”).
The entries in the Register shall be conclusive and binding for all purposes, absent manifest
error, and the Borrower, the Agent and the Lenders may treat each Person whose name is recorded in
the Register as a Lender hereunder for all purposes of this Agreement. The Register shall be
available for inspection by the Borrower or any Lender at any reasonable time and from time to time
upon reasonable prior notice.

 

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(d) Each Lender may sell participations to one or more banks or other entities (other than the
Borrower or any of its Affiliates) in or to all or a portion of its rights and obligations under
this Agreement (including, without limitation, all or a portion of its Commitment, the Advances
owing to it and any Note or Notes held by it); provided, however, that (i) such Lender’s
obligations under this Agreement (including, without limitation, its Commitment to the Borrower
hereunder and its participation obligations to the Issuing Lenders and the Swing Line Lender
hereunder) shall remain unchanged, (ii) such Lender shall remain solely responsible to the other
parties hereto for the performance of such obligations, (iii) such
Lender shall remain the holder of any such Note for all purposes of this Agreement, (iv) the
Borrower, the Agent, the Issuing Lenders and the other Lenders shall continue to deal solely and
directly with such Lender in connection with such Lender’s rights and obligations under this
Agreement and (v) no participant under any such participation shall have any right to approve any
amendment or waiver of any provision of this Agreement or any Note, or any consent to any departure
by the Borrower therefrom, except to the extent that such amendment, waiver or consent would reduce
the principal of, or interest on, the Notes or any fees or other amounts payable hereunder, in each
case to the extent subject to such participation, or postpone any date fixed for any payment of
principal of, or interest on, the Notes or any fees or other amounts payable hereunder, in each
case to the extent subject to such participation.

(e) Any Lender may, in connection with any assignment or participation or proposed assignment
or participation pursuant to this Section 8.07, disclose to the assignee or participant or proposed
assignee or participant, any information relating to the Borrower furnished to such Lender by or on
behalf of the Borrower; provided that, prior to any such disclosure, the assignee or participant or
proposed assignee or participant shall agree to preserve the confidentiality of any Borrower
Information relating to the Borrower received by it from such Lender.

(f) Notwithstanding any other provision set forth in this Agreement, any Lender may at any
time create a security interest in all or any portion of its rights under this Agreement
(including, without limitation, the Advances owing to it and any Note or Notes held by it) in favor
of any Federal Reserve Bank in accordance with Regulation A of the Board of Governors of the
Federal Reserve System.

 

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Section 8.08 Confidentiality. Neither the Agent nor any Lender may disclose to any Person any confidential, proprietary
or non-public information of the Borrower furnished to the Agent or the Lenders by the Borrower
(such information being referred to collectively herein as the “Borrower Information”),
except that each of the Agent and each of the Lenders may disclose Borrower Information (i) to its
and its affiliates’ employees, officers, directors, agents and advisors (it being understood that
the Persons to whom such disclosure is made will be informed of the confidential nature of such
Borrower Information and instructed to keep such Borrower Information confidential on substantially
the same terms as provided herein), (ii) to the extent requested by any regulatory authority, (iii)
to the extent required by applicable laws or regulations or by any subpoena or similar legal
process, (iv) to any other party to this Agreement, (v) in connection with the exercise of any
remedies hereunder or any suit, action or proceeding relating to this Agreement or the enforcement
of rights hereunder, (vi) subject to an agreement containing provisions substantially the same as
those of this Section 8.08, to any assignee or participant or prospective assignee or participant,
(vii) to the extent such Borrower Information (A) is or becomes generally available to the public
on a non-confidential basis other than as a result of a breach of this Section 8.08 by the Agent or
such Lender, or (B) is or becomes available to the Agent or such Lender on a nonconfidential basis
from a source other than the Borrower and (viii) with the consent of the Borrower.

EACH LENDER ACKNOWLEDGES THAT BORROWER INFORMATION, FURNISHED TO IT PURSUANT TO THIS AGREEMENT
MAY INCLUDE MATERIAL NON-PUBLIC INFORMATION CONCERNING THE BORROWER AND ITS AFFILIATES
AND THEIR RELATED PARTIES OR THEIR RESPECTIVE SECURITIES, AND CONFIRMS THAT IT HAS DEVELOPED
COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL NON-PUBLIC INFORMATION AND THAT IT WILL HANDLE
SUCH MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE LAW,
INCLUDING FEDERAL AND STATE SECURITIES LAWS.

ALL INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS, FURNISHED BY THE BORROWER OR
THE AGENT PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS AGREEMENT MAY CONTAIN MATERIAL
NON-PUBLIC INFORMATION ABOUT THE BORROWER AND ITS AFFILIATES OR THEIR RESPECTIVE SECURITIES.
ACCORDINGLY, EACH LENDER REPRESENTS TO THE BORROWER AND THE AGENT THAT IT HAS IDENTIFIED A CREDIT
CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE
WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS, AND
SHALL PROVIDE THE NAME(S) OF SUCH PERSON(S) TO THE AGENT WITHIN TWO WEEKS OF THE EFFECTIVE DATE.

Section 8.09 Governing Law. This Agreement and the Notes shall be governed by, and construed in accordance with, the
laws of the State of New York. Each standby Letter of Credit issued under this Agreement shall be
subject either to the rules of the Uniform Customs and Practice for Documentary Credits, as most
recently published by the International Chamber of Commerce (the “ICC”) at the time of
issuance (“UCP”) or the rules of the International Standby Practices (ICC Publication
Number 590) (“ISP98”), as determined by the relevant Issuing Lender, and in each case to
the extent not inconsistent therewith, the laws of the State of New York without regard to its
conflict of laws principles.

Section 8.10 Execution in Counterparts. This Agreement may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same agreement. Delivery of an
executed counterpart of a signature page to this Agreement by telecopier or other electronic
imaging shall be effective as delivery of a manually executed counterpart of this Agreement.

 

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Section 8.11 Jurisdiction, Etc.

(a) Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and
its property, to the nonexclusive jurisdiction of any New York State court or federal court of the
United States of America sitting in New York City, and any appellate court from any thereof, in any
action or proceeding arising out of or relating to this Agreement or the Notes, or for recognition
or enforcement of any judgment, and each of the parties hereto hereby irrevocably and
unconditionally agrees that all claims in respect of any such action or proceeding may be heard and
determined in any such New York State court or, to the extent permitted by law, in such federal
court in New York City. The Borrower hereby irrevocably consents to the service of process in any
action or proceeding in such courts by the mailing thereof by any parties hereto by registered or
certified mail, postage prepaid, to the Borrower at its address
specified pursuant to Section 8.02. 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 shall
affect any right that any party may otherwise have to bring any action or proceeding relating to
this Agreement or the Notes in the courts of any jurisdiction.

(b) Each of the parties hereto irrevocably and unconditionally waives, to the fullest extent
it may legally and effectively do so, any objection that it may now or hereafter have to the laying
of venue of any suit, action or proceeding arising out of or relating to this Agreement or the
Notes in any New York State or federal court. Each of the parties hereto hereby irrevocably
waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court.

Section 8.12 Patriot Act Notice. Each Lender and the Agent (for itself and not on behalf of any Lender) hereby notifies the
Borrower that pursuant to the requirements of the Patriot Act, it is required to obtain, verify and
record information that identifies the Borrower, which information includes the name and address of
the Borrower and other information that will allow such Lender or the Agent, as applicable, to
identify the Borrower in accordance with the Patriot Act. The Borrower shall provide, to the
extent commercially reasonable, such information and take such actions as are reasonably requested
by the Agent or any Lenders in order to assist the Agent and the Lenders in maintaining compliance
with the Patriot Act.

Section 8.13 Waiver of Jury Trial. Each of the Borrower, the Agent and the Lenders hereby irrevocably waives all right to
trial by jury in any action, proceeding or counterclaim (whether based on contract, tort or
otherwise) arising out of or relating to this Agreement or the Notes or the actions of the Agent or
any Lender in the negotiation, administration, performance or enforcement thereof.

 

67

 

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

	 	 	 	 	 
	 	UGI UTILITIES, INC.

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	
 
	 	PNC BANK, NATIONAL ASSOCIATION,

as Agent

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

Credit Agreement

 

 

Initial Lenders

	 	 	 	 	 
	Commitment

$60,000,000  	PNC BANK, NATIONAL ASSOCIATION 	 
	
	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	$60,000,000       	CITIZENS BANK OF PENNSYLVANIA

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	$37,000,000       	CITIBANK, N.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	$37,000,000       	CREDIT SUISSE AG, Cayman Islands Branch

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	$37,000,000       	JPMORGAN CHASE BANK, N.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

Credit Agreement

 

 

	 	 	 	 	 
	$37,000,000       	WELLS FARGO BANK, NATIONAL ASSOCIATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	$32,000,000       	THE BANK OF NEW YORK MELLON

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

Credit Agreement

 

 

SCHEDULE I

UGI UTILITIES, INC.

CREDIT AGREEMENT

APPLICABLE LENDING OFFICES

	 	 	 	 	 
	Name of Initial Lender	 	Domestic Lending Office	 	Eurodollar Lending Office
	 
	PNC Bank, National Association

	 	Agency Services

PNC Firstside Center

500 First Avenue, 4th Floor

Pittsburgh, PA 15219

Attn: Lisa Pierce

Tel: (412) 762-6442

Fax: (412) 762-8672
	 	 
	Citizens Bank of Pennsylvania

	 	3025 Chemical Road, Suite 300

Plymouth Meeting, PA 19462

Attn: Leslie Broderick

Tel: (484) 530-7144

Fax: (610) 941-4136	 	 
	Citibank, N.A.

	 	2800 Post Oak Blvd. 4th Floor

Houston, TX 77056

Attn: Michael Zeller

Tel: (713) 752-5314

Fax: (281) 274-9481	 	 
	Credit Suisse AG, Cayman 

Islands Branch

	 	Eleven Madison Avenue

New York, NY 10010

Attn: William O’Daly

Tel: (212)-325-1986

Fax: (212)-743-2254	 	 
	JPMorgan Chase Bank, N.A.

	 	10 S. Dearborn St., Floor 9

Chicago, IL 60603

Attn: Helen Davis

Tel: (312) 732-1759

Fax: (312) 732-1762	 	 
	Wells Fargo Bank, National 

Association

	 	301 S. College St., 15th Floor

MAC: D1053-15

Charlotte, NC 28202

Attn: Larry Sullivan

Tel: (704) 715-1794

Fax: (704) 715-1486	 	 
	The Bank of New York Mellon

	 	One Wall Street — 102-1900

New York, NY 10286

Attn: Richard K. Fronapfel Jr. 

Tel: (212) 635-7615

Fax: (212) 635-8595	 	 

 

 

SCHEDULE 3.01(h)

UGI UTILITIES, INC.

CREDIT AGREEMENT

EXISTING CREDIT FACILITY

1. Credit Agreement, dated as of August 11, 2006, among UGI Utilities, Inc., as Borrower, the
Initial Lenders named therein, Wells Fargo Bank, N.A. (successor to Wachovia Bank, National
Association), as Syndication Agent, and Citibank, N.A., as Administrative Agent (as each such
capitalized term is defined therein).

 

 

SCHEDULE 5.02(a)

UGI UTILITIES, INC.

CREDIT AGREEMENT

EXISTING LIENS

None.

 

 

EXHIBIT A-1 — FORM OF

REVOLVING CREDIT

PROMISSORY NOTE

	 	 	 
	U.S.$_______________	 	Dated: ____________ ___, 201__

FOR VALUE RECEIVED, the undersigned, UGI UTILITIES, INC., a Pennsylvania corporation (the
“Borrower”), HEREBY PROMISES TO PAY to the order of
 _____ 
(the
“Lender”) for the account of its Applicable Lending Office on the Termination Date (each as
defined in the Credit Agreement referred to below) the principal sum of U.S.$[amount of the
Lender’s Commitment in figures] or, if less, the aggregate principal amount of the Revolving Credit
Advances made by the Lender to the Borrower pursuant to the Credit Agreement dated as of May 25,
2011 among the Borrower, the Lender and certain other lenders parties thereto, PNC Bank, National
Association, as Agent for the Lender and such other lenders, and Citizens Bank of Pennsylvania, as
syndication agent (as amended or modified from time to time, the “Credit Agreement”; the
terms defined therein being used herein as therein defined), outstanding on the Termination Date.

The Borrower promises to pay interest on the unpaid principal amount of each Revolving Credit
Advance from the date of such Revolving Credit Advance until such principal amount is paid in full,
at such interest rates, and payable at such times, as are specified in the Credit Agreement.

Both principal and interest are payable in lawful money of the United States of America to PNC
Bank, as Agent, at 500 First Avenue, Fourth Floor, Pittsburgh, PA 15219, in same day funds. The
holder of this Revolving Credit Note is authorized to endorse on Schedule I annexed hereto each
Revolving Credit Advance made by the Lender to the Borrower pursuant to the Credit Agreement, and
all payments made on account of principal thereof, and any such endorsement or recordation shall
constitute prima facie evidence of the accuracy of the information so endorsed or recorded;
provided, however, that the failure to make any such endorsement or recordation (or any error in
such endorsement or recordation) shall not affect the obligations of the Borrower to make payments
of principal, interest and other amounts outstanding in accordance with the terms of this Revolving
Credit Note and the Credit Agreement.

This Promissory Note is one of the Revolving Credit Notes referred to in, and is entitled to
the benefits of, the Credit Agreement. The Credit Agreement, among other things, (i) provides for
the making of Revolving Credit Advances by the Lender to the Borrower from time to time in an
aggregate amount not to exceed at any time outstanding the U.S. dollar amount first above
mentioned, the indebtedness of the Borrower resulting from each such Revolving Credit
Advance being evidenced by this Promissory Note and (ii) contains provisions for acceleration of
the maturity hereof upon the happening of certain stated events and also for prepayments on account
of principal hereof prior to the maturity hereof upon the terms and conditions therein specified.

	 	 	 	 	 
	 	UGI UTILITIES, INC.

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

A-1-1

 

ADVANCES AND PAYMENTS OF PRINCIPAL

	 	 	 	 	 	 	 	 	 
	 	 	 	 	Amount of 	 	Unpaid 	 	 
	 	 	Amount of	 	Principal Paid	 	Principal	 	Notation
	Date	 	 Advance	 	 or Prepaid	 	Balance	 	Made By
	 
	 	 	 	 	 	 	 	 

 

A-1-2

 

EXHIBIT A-2 — FORM OF

SWING LINE

PROMISSORY NOTE

			
	 	 	 
	U.S.$30,000,000
	 	Dated:                         
 _____, 201___ 

FOR VALUE RECEIVED, the undersigned, UGI UTILITIES, INC., a Pennsylvania corporation (the
“Borrower”), HEREBY PROMISES TO PAY to the order of                      (the “Swing Line
Lender”) for the account of its Applicable Lending Office on the Termination Date (each as
defined in the Credit Agreement referred to below) the principal sum of U.S.$30,000,000 or, if
less, the aggregate principal amount of the Swing Line Advances made by the Swing Line Lender to
the Borrower pursuant to the Credit Agreement dated as of May 25, 2011 among the Borrower, the
Lender and certain other lenders parties thereto, PNC Bank, National Association, as Agent for the
Lender and such other lenders, and Citizens Bank of Pennsylvania, as syndication agent (as amended
or modified from time to time, the “Credit Agreement”; the terms defined therein being used
herein as therein defined), outstanding on the Termination Date.

The Borrower promises to pay interest on the unpaid principal amount of each Swing Line
Advance from the date of such Swing Line Advance until such principal amount is paid in full, at
such interest rates, and payable at such times, as are specified in the Credit Agreement.

Both principal and interest are payable in lawful money of the United States of America to PNC
Bank, as Agent, at 500 First Avenue, Fourth Floor, Pittsburgh, PA 15219, in same day funds. The
holder of this Swing Line Note is authorized to endorse on Schedule I annexed hereto each Swing
Line Advance made by the Swing Line Lender to the Borrower pursuant to the Credit Agreement, and
all payments made on account of principal thereof, and any such endorsement or recordation shall
constitute prima facie evidence of the accuracy of the information so endorsed or recorded;
provided, however, that the failure to make any such endorsement or recordation (or any error in
such endorsement or recordation) shall not affect the obligations of the Borrower to make payments
of principal, interest and other amounts outstanding in accordance with the terms of this Swing
Line Note and the Credit Agreement.

This Promissory Note is the Swing Line Note referred to in, and is entitled to the benefits
of, the Credit Agreement. The Credit Agreement, among other things, (i) provides for the making of
Swing Line Advances by the Swing Line Lender to the Borrower from time to time in an aggregate
amount not to exceed at any time outstanding the U.S. dollar amount first above mentioned, the
indebtedness of the Borrower resulting from each such Swing Line Advance being evidenced by this
Promissory Note and (ii) contains provisions for acceleration of the maturity hereof upon the
happening of certain stated events and also for prepayments on account of principal hereof prior to
the maturity hereof upon the terms and conditions therein specified.

	 	 	 	 	 
	 	UGI UTILITIES, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

A-2-1

 

ADVANCES AND PAYMENTS OF PRINCIPAL

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Amount of	 	 	Unpaid	 	 	 	 
	 	 	Amount of	 	 	Principal Paid	 	 	Principal	 	 	Notation	 
	Date	 	Advance	 	 	or Prepaid	 	 	Balance	 	 	Made By	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

A-2-2

 

EXHIBIT B-1 — FORM OF NOTICE OF

REVOLVING CREDIT BORROWING

PNC Bank, National Association, as Agent

for the Lenders parties

to the Credit Agreement

referred to below

PNC Firstside Center

500 First Avenue, 4th Floor

Pittsburgh, PA 15219

Attention: Lisa Pierce

Telecopy: (412) 762-8672

E-mail: p.snyder@pnc.com; jennifer.rosenstein@pnc.com; and gerri.porter@pnc.com

[Date]

Attention: Agency Services

Ladies and Gentlemen:

The undersigned, UGI Utilities, Inc., refers to the Credit Agreement, dated as of May 25, 2011
(as amended or modified from time to time, the “Credit Agreement”, the terms defined
therein being used herein as therein defined), among the undersigned, certain Lenders parties
thereto, PNC Bank, National Association, as Agent for said Lenders, and Citizens Bank of
Pennsylvania, as syndication agent, and hereby gives you notice, irrevocably, pursuant to Section
2.02 of the Credit Agreement that the undersigned hereby requests a Revolving Credit Borrowing
under the Credit Agreement, and in that connection sets forth below the information relating to
such Revolving Credit Borrowing (the “Proposed Revolving Credit Borrowing”) as required by
Section 2.02(a) of the Credit Agreement:

(i) The Business Day of the Proposed Revolving Credit Borrowing is                     , 201.

(ii) The Type of Advances comprising the Proposed Revolving Credit Borrowing is [Base Rate
Advances] [Eurodollar Rate Advances].

(iii) The aggregate amount of the Proposed Revolving Credit Borrowing is
$                    .1

 

	 	 	 
	1	 	For Eurodollar Rate Advances, minimums of $5,000,000 and
increments of $1,000,000 in excess thereof. For Base Rate Advances, minimums
of $1,000,000 and increments of $1,000,000 in excess thereof. Notice to be
delivered not later than (a) 1:00 p.m. (Pittsburgh, Pennsylvania time) on the
third Business Day prior to the date of the proposed Revolving Credit Borrowing
in the case of Eurodollar Rate Advances or (b) 12:00 Noon (Pittsburgh,
Pennsylvania time) on the date of the proposed Revolving Credit Borrowing in
the case of Base Rate Advances.

 

B-1-1

 

(iv) The undersigned hereby irrevocably requests [check one line below and fill in blank space
next to the line as appropriate]:

	 	 	 
	
 _____ 
a.

	 	Funds to be deposited into PNC bank account per our
current
standing instructions. Complete amount of deposit if not full loan
advance amount: $                    .
	 
	 	 
	
 _____ 
 b.

	 	Funds to be wired per the following wire instructions:
	 
	 	 
	 

	 	$                     Amount of Wire Transfer
	 
	 	 
	 

	 	Bank Name:
 _________________________________________ 

	 
	 	 
	 

	 	ABA:
 _________________________________________ 

	 
	 	 
	 

	 	Account Number:
 _________________________________________ 

	 
	 	 
	 

	 	Account Name:
 _________________________________________ 

	 
	 	 
	 

	 	Reference:
 _________________________________________ 

	 
	 	 
	
 _____ 
c.

	 	Funds to be wired per the attached Funds Flow (multiple
wire transfers)

[(v) The initial Interest Period for each Eurodollar Rate Advance made as part of the Proposed
Revolving Credit Borrowing is [two weeks] [______ 
month[s]].]

The undersigned hereby certifies that the following statements are true on the date hereof,
and will be true on the date of the Proposed Revolving Credit Borrowing:

(A) the representations and warranties contained in Section 4.01 of the Credit Agreement are
correct, before and after giving effect to the Proposed Revolving Credit Borrowing and to the
application of the proceeds therefrom, as though made on and as of such date, except to the extent
such representations and warranties expressly relate to an earlier date, in which case such
representations and warranties were true and correct as of such earlier date; and

(B) no event has occurred and is continuing, or would result from such Proposed Revolving
Credit Borrowing or from the application of the proceeds therefrom, that constitutes a Default.

	 	 	 	 	 
	 	Very truly yours,

UGI UTILITIES, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

B-1-2

 

EXHIBIT B-2 — FORM OF NOTICE OF

SWING LINE BORROWING

PNC Bank, National Association, as Swing Line Lender

PNC Firstside Center

500 First Avenue, 4th Floor

Pittsburgh, PA 15219

Attention: Lisa Pierce

Telecopy: (412) 762-8672

E-mail: p.snyder@pnc.com; jennifer.rosenstein@pnc.com; and gerri.porter@pnc.com

[Date]

Attention: Agency Services

Ladies and Gentlemen:

The undersigned, UGI Utilities, Inc., refers to the Credit Agreement, dated as of May 25, 2011
(as amended or modified from time to time, the “Credit Agreement”, the terms defined
therein being used herein as therein defined), among the undersigned, certain Lenders parties
thereto, PNC Bank, National Association, as Agent for said Lenders, and Citizens Bank of
Pennsylvania, as syndication agent, and hereby gives you notice, irrevocably, pursuant to Section
2.03 of the Credit Agreement that the undersigned hereby requests a Swing Line Advance under the
Credit Agreement, and in that connection sets forth below the information relating to such Swing
Line Advance (the “Proposed Swing Line Advance”) as required by Section 2.03(b) of the
Credit Agreement:

(i) The Business Day of the Proposed Swing Line Advance is                     , 201.

(ii) The aggregate amount of the Proposed Swing Line Advance is $                    .1

(iii) The undersigned hereby irrevocably requests [check one line below and fill in blank
space next to the line as appropriate]:

	 	 	 
	
 _____ 
a.

	 	Funds to be deposited into PNC bank account per our current
standing instructions. Complete amount of deposit if not full loan advance
amount: $                    .

 

	 	 	 
	1	 	Minimum of $100,000 and increments of $100,000 in excess
thereof. Notice to be delivered not later than 1:00 p.m. (Pittsburgh,
Pennsylvania time) on the Business Day such Swing Line Advance is requested.

 

B-2-1

 

	 	 	 
	
 _____ 
 b.

	 	Funds to be wired per the following wire instructions:
	 
	 	 
	 

	 	$__________ 
Amount of Wire Transfer
	 
	 	 
	 

	 	Bank Name:
 ___________________________________ 

	 
	 	 
	 

	 	ABA:
 ___________________________________ 

	 
	 	 
	 

	 	Account Number:
 ___________________________________ 

	 
	 	 
	 

	 	Account Name:
 ___________________________________ 

	 
	 	 
	 

	 	Reference:
 ___________________________________ 

The undersigned hereby certifies that the following statements are true on the date hereof,
and will be true on the date of the Proposed Swing Line Advance:

(A) the representations and warranties contained in Section 4.01 of the Credit Agreement are
correct, before and after giving effect to the Proposed Swing Line Advance and to the application
of the proceeds therefrom, as though made on and as of such date, except to the extent such
representations and warranties expressly relate to an earlier date, in which case such
representations and warranties were true and correct as of such earlier date; and

 

B-2-2

 

(B) no event has occurred and is continuing, or would result from such Proposed Swing Line
Advance or from the application of the proceeds therefrom, that constitutes a Default.

	 	 	 	 	 
	 	Very truly yours,

UGI UTILITIES, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

B-2-3

 

EXHIBIT C — FORM OF

ASSIGNMENT AND ASSUMPTION

This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the
Effective Date set forth below and is entered into by and between [                    ] (the
“Assignor”) and [                    ] (the “Assignee”). Capitalized terms used but not
defined herein shall have the meanings given to them in the Credit Agreement identified below (as
it may be amended, restated or otherwise modified from time to time, the “Credit
Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard
Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated
herein by reference and made a part of this Assignment and Assumption as if set forth herein in
full.

For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the
Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to
and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the
Effective Date inserted by the Agent as contemplated below (i) all of the Assignor’s rights and
obligations in its capacity as a Lender under the Credit Agreement and any other documents or
instruments delivered pursuant thereto to the extent related to the amount and percentage interest
identified below of all of such outstanding rights and obligations of the Assignor under the
respective facilities identified below (including without limitation any letters of credit,
guarantees, and swing line loans included in such facilities) and (ii) to the extent permitted to
be assigned under applicable law, all claims, suits, causes of action and any other right of the
Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under
or in connection with the Credit Agreement, any other documents or instruments delivered pursuant
thereto or the loan transactions governed thereby or in any way based on or related to any of the
foregoing, including, but not limited to, contract claims, tort claims, malpractice claims,
statutory claims and all other claims at law or in equity related to the rights and obligations
sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned
pursuant to clauses (i) and (ii) above being referred to herein collectively as, the “Assigned
Interest”). Such sale and assignment is without recourse to the Assignor and, except as
expressly provided in this Assignment and Assumption, without representation or warranty by the
Assignor.

	 	 	 	 	 
	1.

	 	Assignor:
	 	                                                            
	 
	 	 	 	 
	2.

	 	Assignee:
	 	                                                            
	 

	 	 	 	[and is an Affiliate of [identify Bank]1]
	 
	 	 	 	 
	3.

	 	Borrower:
	 	UGI Utilities, Inc.
	 
	 	 	 	 
	4.

	 	Agent:
	 	PNC Bank, National Association, as the administrative agent under the Credit Agreement

 

	 	 	 
	1	 	Select as applicable.

 

C-1

 

	 	 	 	 	 
	5.

	 	Credit Agreement:
	 	The Credit Agreement dated as of May 25, 2011 among UGI Utilities, Inc., the Lenders parties thereto
and PNC Bank, National Association, as administrative agent.
	 
	 	 	 	 
	6.

	 	Assigned Interest:	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Percentage	 	 	 	 
	Aggregate Amount of	 	Amount of	 	 	Assigned of	 	 	 	 
	Commitment/Advances	 	Commitment/Advances	 	 	Commitment/	 	 	 	 
	for all Lenders*	 	Assigned*	 	 	Advances2	 	 	CUSIP Number	 
	$
	 	$	 	 	 	 	 	%	 	 	 	 
	$
	 	$	 	 	 	 	 	%	 	 	 	 
	$
	 	$	 	 	 	 	 	%	 	 	 	 
	$
	 	$	 	 	 	 	 	%	 	 	 	 

	7.	 	[Trade Date:                     ]3

Effective Date:                     
 _____, 20_____ 
[TO BE INSERTED BY AGENT AND WHICH SHALL BE THE
EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

[Signatures to Follow]

 

	 	 	 
	*	 	Amount to be adjusted by the counterparties to take
into account any payments or prepayments made between the Trade Date and the
Effective Date.

	 
	2	 	Set forth, to at least 9 decimals, as a percentage of
the Commitment/Advances of all Lenders thereunder

	 
	3	 	To be completed if the Assignor and the Assignee intend
that the minimum assignment amount is to be determined as of the Trade Date.

 

C-2-2

 

The terms set forth in this Assignment and Assumption are hereby agreed to:

	 	 	 	 	 
	 	ASSIGNOR:

[__________________]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  

	 	 
	 	ASSIGNEE:

[__________________]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

[Consented to and]4 Accepted:

PNC BANK, NATIONAL ASSOCIATION,

as Agent

	 	 	 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 
	[Consented to:]5

[Name of Relevant Party]]

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 

 

	 	 	 
	4	 	To be added only if the consent of the Agent is
required by the terms of the Credit Agreement.

	 
	5	 	To be added where the consent of the Borrower and/or
other parties (e.g. Swing Line Lender/the Issuing Lender) is required by the
terms of the Credit Agreement.

 

C-2-3

 

ANNEX 1

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

1. Representations and Warranties.

1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and
beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any
lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken
all action necessary, to execute and deliver this Assignment and Assumption and to consummate the
transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any
statements, warranties or representations made in or in connection with the Credit Agreement or any
other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness,
sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial
condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in
respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its
Subsidiaries or Affiliates or any other Person of any of their respective obligations under any
Loan Document.

1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power
and authority, and has taken all action necessary, to execute and deliver this Assignment and
Assumption and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it meets all requirements of a Purchasing Lender under the Credit Agreement
(subject to receipt of such consents as may be required under the Credit Agreement), (iii) from and
after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender
thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender
thereunder, (iv) it has received a copy of the Credit Agreement, together with copies of the most
recent financial statements delivered pursuant to Section 5.1 thereof, as applicable, and such
other documents and information as it has deemed appropriate to make its own credit analysis and
decision to enter into this Assignment and Assumption and to purchase the Assigned Interest on the
basis of which it has made such analysis and decision independently and without reliance on the
Agent or any other Lender, and (v) if Assignee is not incorporated or organized under the laws of
the United States of America or any State thereof, attached to the Assignment is any documentation
required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and
executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on
the Agent, the Assignor or any other Lender, and based on such documents and information as it
shall deem appropriate at the time, continue to make its own credit decisions in taking or not
taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all
of the obligations which by the terms of the Loan Documents are required to be performed by it as a
Lender.

 

C-4

 

2. Payments. From and after the Effective Date, the Agent shall make all payments in
respect of the Assigned Interest (including payments of principal, interest, fees and other
amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to
the Assignee for amounts which have accrued from and after the Effective Date.

3. General Provisions. This Assignment and Assumption shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and assigns. This
Assignment and Assumption may be executed in any number of counterparts, which together shall
constitute one instrument. Delivery of an executed counterpart of a signature page of this
Assignment and Assumption by telecopy or other electronic transmission shall be effective as
delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and
Assumption shall be governed by, and construed in accordance with, the law of the State of New
York.

 

C-5

 

EXHIBIT D — FORM OF

OPINION OF COUNSEL

FOR THE BORROWER

May 25, 2011

PNC Bank, National Association, as Agent under

the Credit Agreement referred to herein

and the Lenders parties thereto

1600 Market Street

Philadelphia, PA 19103

Re: Credit Agreement dated as of May 25, 2011 of UGI Utilities, Inc.

Ladies and Gentlemen:

We have acted as counsel for UGI Utilities, Inc., a Pennsylvania corporation (the
“Company”), in connection with the Credit Agreement, dated as of May 25, 2011 (the
“Credit Agreement”), among the Company, the lenders referred to therein (the
“Lenders”), PNC Bank, National Association, as Agent for the Lenders (the “Agent”),
and Citizens Bank of Pennsylvania, as Syndication Agent. Terms defined in the Credit Agreement are
used as therein defined, unless otherwise defined herein. This opinion letter is being delivered
to you pursuant to Section 3.01(g)(vi) of the Credit Agreement.

In connection with this opinion letter, we have examined originals, or copies certified or
otherwise identified to our satisfaction, of the Articles of Incorporation and Bylaws of the
Company and such other documents and records, and other instruments as we have deemed appropriate
for purposes of the opinions set forth herein, including the following documents (the documents
referred to in clauses (a) through [(d)] below are referred to herein as the “Credit
Documents”):

(a) the Credit Agreement;

(b) the Revolving Credit Note in the amount of $_______, executed by
the Company on the date hereof in favor of PNC Bank, National Association;

(c) the Revolving Credit Note in the amount of $______, executed by
the Company on the date hereof in favor of [                    ];

(d) the Swing Line Note in the amount of $30,000,000, executed by the Company in favor of PNC
Bank, National Association;

 

D-1

 

(e) the Certificate of the Secretary, dated as of the date hereof, executed by the Company
attaching and certifying (i) incumbencies of the officers and agents of the Company;
(ii) an except from the minutes of a meeting of the Board of Directors of the Company called,
convened and held on April 28, 2011 with respect to the transactions referred to herein; (iii) a
true, correct and complete copy of the Articles of Incorporation of the Company; (iv) a true,
correct and complete copy of the Amended and Restated By-Laws of the Company; and (v) a true,
correct and complete copy of the subsistence certificate of the Company; and

(f) a certificate of the Secretary of the Commonwealth of Pennsylvania, dated as of a recent
date, attesting to the present subsistence of the Company as attached on Exhibit B hereto (the
“Good Standing Certificate”).

We have assumed the genuineness of all signatures, the legal capacity of natural persons, the
authenticity of the documents submitted to us as originals, the conformity to the original
documents of all documents submitted to us as certified, facsimile, electronic or photostatic
copies, and the authenticity of the originals of all documents submitted to us as copies. We have
also assumed that the Credit Documents constitute valid and binding obligations of each party
thereto other than the Company.

As to any facts that are material to the opinions hereinafter expressed that we did not
independently establish or verify, we have relied without investigation upon the representations of
the Company contained in the Credit Documents and upon certificates of officers of the Company.

In rendering the opinions set forth herein, whenever a statement or opinion set forth therein
is qualified by “to our knowledge,” “known to us” or by words of similar import, it is intended to
indicate that, during the course of our representation of the Company in the subject transaction,
no information has come to the attention of those lawyers in our firm who have rendered legal
services in connection with such transaction that gives us actual knowledge of the inaccuracy of
such statement or opinion. We have not undertaken any independent investigation to determine the
accuracy of facts material to any such statement or opinion, and no inference as to such statement
or opinion should be drawn from the fact of our representation of the Company.

We have relied upon a certificate of an officer of the Company dated the date hereof,
certifying that the items listed in such certificate are (i) all of the indentures, loan or credit
agreements, leases, guarantees, mortgages, security agreements, bonds, notes, other agreements or
instruments (the “Contracts” as set forth on Exhibit A hereto), and (ii) all of the
judicial or administrative orders, writs, judgments, awards, injunctions and decrees (the
“Company Orders”), which as to any matter in (i) or (ii) affect or purport to affect the
Company’s right to borrow money under the Credit Agreement or the Company’s obligations under the
Credit Agreement.

 

D-2

 

In rendering this opinion, we have assumed that (i) each of the parties to the Credit
Documents (other than the Company) is validly existing and in good standing under the laws of its
jurisdiction of organization and has the full power and legal right to execute and deliver each of
the Credit Documents to be executed by it and to perform the provisions of the Credit Documents to
be performed by it; (ii) each of the Credit Documents has been duly authorized, executed and
delivered by each party thereto (other than the Company), and constitutes the legal,
valid and binding obligation of each such party (other than the Company), enforceable against
it in accordance with the terms thereof; and (iii) the execution, delivery and performance by the
parties (other than the Company) of each of the Credit Documents to which they are a party, do not
contravene (A) their respective charter, bylaws or other applicable constituent documents or (B)
any applicable law.

Based upon and subject to the foregoing, and to the limitations and qualifications described
below, we are of the opinion that:

1. The Company is a corporation presently subsisting under the laws of the Commonwealth of
Pennsylvania.

2. The Company has the corporate power and authority to enter into and perform the Credit
Documents, has taken all necessary corporate action to authorize the execution, delivery and
performance (except with respect to any Commitment Increase) of such Credit Documents and has duly
executed and delivered such Credit Documents.

3. Each Credit Document is the valid and binding obligation of the Company enforceable against
the Company in accordance with its terms.

4. The execution and delivery by the Company of the Credit Documents do not, and the
performance by the Company of its respective obligations thereunder will not, (i) result in a
violation of the Amended and Restated Articles of Incorporation or Bylaws of the Company, (ii)
result in a breach or default under any Contract or (iii) result in a violation of any Company
Order.

5. The execution and delivery by the Company of the Credit Documents do not, and the
performance by the Company of its obligations thereunder will not, require any approval from or
filing with any governmental authority of the United States or the Commonwealth of Pennsylvania or
the State of New York other than in connection with the extension of the Termination Date
contemplated by Section 2.20 of the Credit Agreement (the “Termination Date Extension”) and
the registration of a Securities Certificate in accordance with Chapter 19 of the Pennsylvania
Public Utility Code (“PPUC”) authorizing the Company’s incurrence of indebtedness under the
Credit Agreement.

6. The execution and delivery by the Company of the Credit Documents do not, and the
performance by the Company of its obligations thereunder will not, result in any violation of any
federal law of the United States, any law of the Commonwealth of Pennsylvania, any law of the State
of New York, any regulation thereunder, except that prior to the effectiveness of the Termination
Date Extension the Company must register a Securities Certificate in accordance with Chapter 19 of
the PPUC.

7. The use of the proceeds from any extension of credit under the Credit Agreement in
accordance with the provisions of the Credit Agreement does not violate the provisions of
Regulation X of the Board of Governors of the Federal Reserve System.

 

D-3

 

8. To our knowledge, there are no pending lawsuits or other proceedings against the Company
before any court arbitrator or governmental agency or authority that challenge the legality,
validity or enforceability of the Credit Documents.

The opinions expressed above are subject to the following limitations, exceptions,
qualifications and assumptions:

A. The opinions expressed herein are subject to bankruptcy, insolvency, fraudulent transfer
and other similar laws affecting the rights and remedies of creditors generally and general
principles of equity.

B. We express no opinion with respect to the enforceability of indemnification provisions, or
of release or exculpation provisions, contained in the Credit Documents to the extent that
enforcement thereof is contrary to public policy regarding the indemnification against or release
or exculpation of criminal violations, intentional harm or violations of securities laws.

C. The opinions expressed in this opinion letter are limited to the laws of the Commonwealth
of Pennsylvania, the laws of the State of New York and the Federal laws of the United States of
America, and we express no opinion with respect to the laws of any other state or jurisdiction.

D. For purposes of our opinion in paragraph 1 hereof as to the valid existence of the Company,
we have relied solely upon a subsistence certificate issued by the Secretary of the Commonwealth of
Pennsylvania.

E. For purposes of the opinion in paragraph 6, we have considered only such laws and
regulations that in our experience are typically applicable to a transaction of the nature
contemplated by the Credit Documents.

F. Certain waivers by the Company in the Credit Documents may relate to matters that cannot,
as a matter of law, be effectively waived.

G. For purposes of the opinion in paragraph 4, where any Contract is silent as to governing
law or states that it is governed by laws of a state other than the laws of New York or
Pennsylvania, we have not made any investigation of the laws of any other state but have merely
assumed that they would be interpreted in accordance with their plain meaning.

H. We express no opinion as to:

(i) the enforceability of any provision of the Credit Documents insofar as it provides that
any Person purchasing a participation from a Lender or other Person may exercise set-off or similar
rights with respect to such participation or that a Lender or other Person may exercise set-off or
similar rights other than in accordance with applicable law;

(ii) the enforceability of any provision of the Credit Documents permitting modification
thereof only by means of an agreement in writing signed by the parties thereto;

 

D-4

 

(iii) the covenants in the Contracts or the Credit Documents that contain financial ratios and
other similar financial restrictions; or

(iv) whether a federal or state court located outside the State of New York would give effect
to the choice of law provided for in the Credit Documents.

This opinion letter is effective only as of the date hereof. We do not assume responsibility
for updating this opinion letter as of any date subsequent to its date, and we assume no
responsibility for advising you of any changes with respect to any matters described in this
opinion letter that may occur subsequent to the date of this opinion letter or from the discovery,
subsequent to the date of this opinion letter, of information not previously known to us pertaining
to the events occurring prior to such date.

This opinion letter is furnished by us solely for the benefit of the Agent and the Lenders and
their respective successors and permitted assigns and participants pursuant to the Credit
Agreement, and this opinion letter may not be relied upon by such parties for any other purpose or
by any other person or entity for any purpose whatsoever. This opinion letter is not to be quoted
in whole or in part or otherwise referred to or used or furnished to any other person, except as
may be required by any governmental authority or pursuant to legal process, without our express
written consent.

	 	 	 	 	 
	Very truly yours,

 	 	 
	
 	 	 

 

D-5exv4w2

Exhibit 4.2

Execution
Version

INVESTORS’ RIGHTS AGREEMENT

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	 
	1. Definitions
	 	 	1	 
	 
	2. Registration Rights
	 	 	4	 
	2.1 Demand Registration
	 	 	4	 
	2.2 Company Registration
	 	 	5	 
	2.3 Underwriting Requirements
	 	 	5	 
	2.4 Obligations of the Company
	 	 	6	 
	2.5 Furnish Information
	 	 	8	 
	2.6 Expenses of Registration
	 	 	8	 
	2.7 Delay of Registration
	 	 	9	 
	2.8 Indemnification
	 	 	9	 
	2.9 Reports Under Exchange Act
	 	 	11	 
	2.10 Limitations on Subsequent Registration Rights
	 	 	11	 
	2.11 “Market Stand-off” Agreement
	 	 	11	 
	2.12 Restrictions on Transfer
	 	 	12	 
	2.13 Termination of Registration Rights
	 	 	13	 
	 
	3. Information Rights
	 	 	13	 
	3.1 Delivery of Financial Statements
	 	 	13	 
	3.2 Inspection
	 	 	15	 
	3.3 Termination of Information Rights
	 	 	15	 
	3.4 Confidentiality
	 	 	15	 
	 
	4. Rights to Future Stock Issuances
	 	 	15	 
	4.1 Right of First Offer
	 	 	15	 
	4.2 Termination
	 	 	17	 
	 
	5. Additional Covenants
	 	 	17	 
	5.1 Indemnification Agreements; D&O Insurance
	 	 	17	 
	5.2 Board Matters
	 	 	17	 
	5.3 Nondisclosure Agreements
	 	 	17	 
	5.4 Noncompetition Agreements
	 	 	17	 
	5.5 Employment Agreements
	 	 	18	 
	5.6 Successor Indemnification
	 	 	18	 
	5.7 Termination of Covenants
	 	 	18	 
	 
	6. Miscellaneous
	 	 	18	 
	6.1 Successors and Assigns
	 	 	18	 
	6.2 Governing Law
	 	 	19	 
	6.3 Counterparts
	 	 	19	 
	6.4 Titles and Subtitles
	 	 	19	 
	6.5 Notices
	 	 	19	 
	6.6 Amendments and Waivers
	 	 	19	 
	6.7 Severability
	 	 	20	 
	6.8 Aggregation of Stock
	 	 	20	 

i

 

TABLE
OF CONTENTS 
(continued)

	 	 	 	 	 
	 	 	Page	 
	6.9 Additional Investors
	 	 	20	 
	6.10 Entire Agreement
	 	 	20	 
	6.11 Dispute Resolution
	 	 	20	 
	6.12 Delays or Omissions
	 	 	20	 

Schedule A — Schedule of Investors

ii

 

INVESTORS’ RIGHTS AGREEMENT

          THIS INVESTORS’ RIGHTS AGREEMENT is made and entered into as of this 13th day of January,
2011, by and among Myriant Technologies, Inc., a Delaware corporation (the “Company”), and each
holder of the Company’s Class A Common Stock and Class B Common Stock listed on Schedule A,
each of which is referred to in this Agreement as an “Investor”, and together the “Investors.”

RECITALS

          A. Concurrently with the execution of this Agreement, the Company and one of the Investors
that is the holder of the Class A Common Stock are entering into a Class A Common Stock Purchase
Agreement (the “Purchase Agreement”) providing for the issuance of shares of the Class A Common
Stock.

          B. Concurrently with the execution of this Agreement, the Company and the Investors that are
holders of the Class B Common Stock are entering into a Debt Conversion Agreement (the “Conversion
Agreement”) providing for the issuance of shares of the Class B Common Stock.

          C. In order (i) to induce the Company to enter into the Purchase Agreement, (ii) to induce the
Holder of the Class A Common to invest funds in the Company pursuant to the Purchase Agreement and
(iii) to induce the Holders of the Class B Common Holders to enter into the Conversion Agreement,
the Investors and the Company hereby agree that this Agreement shall govern the rights of the
Investors to cause the Company to register shares of Common Stock issuable to the Investors, to
receive certain information from the Company, and to participate in future equity offerings by the
Company, and shall govern certain other matters as set forth in this Agreement.

          NOW, THEREFORE, the parties hereby agree as follows:

     1. Definitions. For purposes of this Agreement (and in addition to terms defined
elsewhere in this Agreement):

     1.1 “Affiliate” means, with respect to any specified Person, any other Person who, directly or
indirectly, controls, is controlled by, or is under common control with such Person, including
without limitation any general partner, managing member, officer or director of such Person or any
venture capital fund now or hereafter existing that is controlled by one or more general partners
or managing members of, or shares the same management company with, such Person.

     1.2 “Charter” means the Company’s Amended and Restated Certificate of Incorporation as may be
amended and/or restated from time to time.

     1.3 “Class A Common Stock” means shares of the Company’s Class A Common Stock, par value
US$0.0001 per share.

     1.4 “Class B Common Stock” means shares of the Company’s Class B Common Stock, par value
US$0.0001 per share.

     1.5 “Common Stock” means shares of the Company’s Common Stock, par value US$0.0001 per share.

-1-

 

     1.6 “Damages” means any loss, damage, or liability (joint or several) to which a party hereto
may become subject under the Securities Act, the Exchange Act, or other federal or state law,
insofar as such loss, damage, or liability (or any action in respect thereof) arises out of or is
based upon (i) any untrue statement or alleged untrue statement of a material fact contained in any
registration statement of the Company, including any preliminary prospectus or final prospectus
contained therein or any amendments or supplements thereto; (ii) an omission or alleged omission to
state therein a material fact required to be stated therein, or necessary to make the statements
therein not misleading; or (iii) any violation or alleged violation by the indemnifying party (or
any of its agents or Affiliates) of the Securities Act, the Exchange Act, any state securities law,
or any rule or regulation promulgated under the Securities Act, the Exchange Act, any state
securities law or any other applicable laws.

     1.7 “Derivative Securities” means any securities or rights convertible into, or exercisable or
exchangeable for (in each case, directly or indirectly), Common Stock, including options and
warrants.

     1.8 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder.

     1.9 “Excluded Registration” means (i) a registration relating to the sale of securities to
employees of the Company or a subsidiary pursuant to a stock option, stock purchase, or similar
plan; (ii) a registration relating to an SEC Rule 145 transaction; (iii) a registration on any form
that does not include substantially the same information as would be required to be included in a
registration statement covering the sale of the Registrable Securities; or (iv) a registration in
which the only Common Stock being registered is Common Stock issuable upon conversion of debt
securities that are also being registered.

     1.10 “Form S-1” means such form under the Securities Act as in effect on the date hereof or
any successor registration form under the Securities Act subsequently adopted by the SEC.

     1.11 “Form S-3” means such form under the Securities Act as in effect on the date hereof or
any registration form under the Securities Act subsequently adopted by the SEC that permits
incorporation of substantial information by reference to other documents filed by the Company with
the SEC.

     1.12 “GAAP” means generally accepted accounting principles in the United States.

     1.13 “Holder” means any holder of Registrable Securities who is a party to this Agreement.

     1.14 “Immediate Family Member” means a child, stepchild, grandchild, parent, stepparent,
grandparent, spouse, registered domestic partner, sibling, mother-in-law, father-in-law,
son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, of
a natural person referred to herein.

     1.15 “Initiating Holders” means, collectively, Holders who properly initiate a registration
request under this Agreement.

     1.16 “IPO” means the Company’s first underwritten public offering of its Common Stock under
the Securities Act.

     1.17 “Major Investor” means any Investor that, individually or together with such Investor’s
Affiliates, holds at least 5% of the Registrable Securities (as adjusted for any stock split, stock
dividend, combination, or other recapitalization or reclassification effected after the date
hereof). For purposes

-2-

 

hereof, Green Chem Holdings, LLC, Green Chem Second Edition, LLC, Itera Ethanol, LLC and
Specialty Chemicals, LLC shall be deemed to be Affiliates of one another.

     1.18 “New Securities” means, collectively, equity securities of the Company, whether or not
currently authorized, as well as rights, options, or warrants to purchase such equity securities,
or securities of any type whatsoever that are, or may become, convertible or exchangeable into or
exercisable for such equity securities.

     1.19 “Person” means any individual, corporation, partnership, trust, limited liability
company, association or other entity.

     1.20 “Registrable Securities” means (i) the Common Stock held by the Investors and Common
Stock issuable or issued upon conversion of the Class A Common Stock or Class B Common Stock; (ii)
any Common Stock, or any Common Stock issued or issuable (directly or indirectly) upon conversion
and/or exercise of any other securities of the Company, acquired by the Investors after the date
hereof; and (iii) any Common Stock issued as (or issuable upon the conversion or exercise of any
warrant, right, or other security that is issued as) a dividend or other distribution with respect
to, or in exchange for or in replacement of, the shares referenced in clauses (i) and
(ii) above; excluding in all cases, however, any Registrable Securities sold by a Person in
a transaction in which the applicable rights under this Agreement are not assigned pursuant to
Subsection 6.1, and excluding for purposes of Section 2 any shares for which
registration rights have terminated pursuant to Subsection 2.13 of this Agreement.

     1.21 “Registrable Securities then outstanding” means the number of shares determined by adding
the number of shares of outstanding Common Stock that are Registrable Securities and the number of
shares of Common Stock issuable (directly or indirectly) pursuant to then exercisable and/or
convertible securities that are Registrable Securities.

     1.22 “Restricted Securities” means the securities of the Company required to bear the legend
set forth in Subsection 2.12(b) hereof.

     1.23 “SEC” means the Securities and Exchange Commission.

     1.24 “SEC Rule 144” means Rule 144 promulgated by the SEC under the Securities Act.

     1.25 “SEC Rule 145” means Rule 145 promulgated by the SEC under the Securities Act.

     1.26 “Securities Act” means the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder.

     1.27 “Selling Expenses” means all underwriting discounts, selling commissions, and stock
transfer taxes applicable to the sale of Registrable Securities, and fees and disbursements of
counsel for any Holder, except for the fees and disbursements of the Selling Holder Counsel borne
and paid by the Company as provided in Subsection 2.6.

     1.28 “Selling Holder Counsel” shall have the meaning given to it in Section 2.6.

-3-

 

     2. Registration Rights. The Company covenants and agrees as follows:

     2.1 Demand Registration.

               (a) Form S-1 Demand. If at any time after the earlier of (i) three (3) years after
the date of this Agreement or (ii) one hundred eighty (180) days after the effective date of the
registration statement for the IPO, the Company receives a request from Holders of at least thirty
percent (30%) of the Registrable Securities then outstanding that the Company file a Form S-1
registration statement with respect to outstanding Registrable Securities of such Holders having an
anticipated aggregate offering price, net of Selling Expenses, of at least Ten Million
(US$10,000,000) Dollars, then the Company shall (i) within ten (10) days after the date such
request is given, give notice thereof (the “Demand Notice”) to all Holders other than the
Initiating Holders; and (ii) as soon as practicable, and in any event within sixty (60) days after
the date such request is given by the Initiating Holders, file a Form S-1 registration statement
under the Securities Act covering all Registrable Securities that the Initiating Holders requested
to be registered and any additional Registrable Securities requested to be included in such
registration by any other Holders, as specified by notice given by each such Holder to the Company
within thirty (30) days of the date the Demand Notice is given, and in each case, subject to the
limitations of Subsection 2.1(c) and Subsection 2.2.

               (b) Form S-3 Demand. If at any time when it is eligible to use a Form S-3
registration statement, the Company receives a request from Holders of at least twenty percent
(20%) of the Registrable Securities then outstanding that the Company file a Form S-3 registration
statement with respect to outstanding Registrable Securities of such Holders having an anticipated
aggregate offering price, net of Selling Expenses, of at least One Million (US$1,000,000) Dollars,
then the Company shall (i) within ten (10) days after the date such request is given, give a Demand
Notice to all Holders other than the Initiating Holders; and (ii) as soon as practicable, and in
any event within forty-five (45) days after the date such request is given by the Initiating
Holders, file a Form S-3 registration statement under the Securities Act covering all Registrable
Securities requested to be included in such registration by any other Holders, as specified by
notice given by each such Holder to the Company within thirty (30) days of the date the Demand
Notice is given, and in each case, subject to the limitations of Subsection 2.1(c) and
Subsection 2.2.

               (c) Notwithstanding the foregoing obligations, if the Company furnishes to Holders requesting
a registration pursuant to this Subsection 2.1 a certificate signed by the Company’s Chief
Executive Officer stating that in the good faith judgment of the Company’s Board of Directors it
would be materially detrimental to the Company and its stockholders for such registration statement
to either become effective or remain effective for as long as such registration statement otherwise
would be required to remain effective, because such action would (i) materially interfere with a
material acquisition, corporate reorganization, or other similar transaction involving the Company;
(ii) require disclosure of material information that has not been, and is otherwise not required to
be, disclosed, the premature disclosure of which would materially adversely affect the Company; or
(iii) render the Company unable to comply with requirements under the Securities Act or Exchange
Act, then the Company shall have the right to defer taking action with respect to such filing, and
any time periods with respect to filing or effectiveness thereof shall be tolled correspondingly,
for a period of not more than ninety (90) days after the request of the Initiating Holders is
given; provided, however, that the Company may not invoke this right more than once in any
twelve (12) month period; and provided further that the Company shall not register any
securities for its own account or that of any other stockholder during such ninety (90) day period
other than an Excluded Registration.

               (d) The Company shall not be obligated to effect, or to take any action to effect, any
registration pursuant to Subsection 2.1(a)(i) during the period that is sixty (60) days
before the

-4-

 

Company’s good faith estimate of the date of filing of, and ending on a date that is one
hundred eighty (180) days after the effective date of, a Company-initiated registration,
provided, that the Company is actively employing in good faith commercially reasonable
efforts to cause such registration statement to become effective; (ii) after the Company has
effected two registrations pursuant to Subsection 2.1(a); or (iii) if the Initiating
Holders propose to dispose of shares of Registrable Securities that may be immediately registered
on Form S-3 pursuant to a request made pursuant to Subsection 2.1(b). The Company shall
not be obligated to effect, or to take any action to effect, any registration pursuant to
Subsection 2.1(b) (i) during the period that is thirty (30) days before the Company’s good
faith estimate of the date of filing of, and ending on a date that is ninety (90) days after the
effective date of, a Company-initiated registration, provided, that the Company is actively
employing in good faith commercially reasonable efforts to cause such registration statement to
become effective; or (ii) if the Company has effected two registrations pursuant to Subsection
2.1(b) within the twelve (12) month period immediately preceding the date of such request.
Subject to Subsection 2.3(c), a registration shall not be counted as “effected” for
purposes of this Subsection 2.1(d) until such time as the applicable registration statement
has been declared effective by the SEC, unless the Initiating Holders withdraw their request for
such registration, elect not to pay the registration expenses therefor, and forfeit their right to
one demand registration statement pursuant to Subsection 2.6, in which case such withdrawn
registration statement shall be counted as “effected” for purposes of this Subsection 2.1(d).

     2.2 Company Registration. If the Company proposes to register (including, for this purpose, a
registration effected by the Company for stockholders other than the Holders) any of its securities
under the Securities Act (other than in an Excluded Registration) and such registration may be used
for the registration of Registrable Securities, the Company shall, at such time, promptly give each
Holder notice of such registration. Upon the request of each Holder given within thirty (30) days
after such notice is given by the Company, the Company shall, subject to the provisions of
Subsection 2.2, cause to be registered all of the Registrable Securities that each such
Holder has requested to be included in such registration. The Company shall have the right to
terminate or withdraw any registration initiated by it under this Subsection 2.2 before the
effective date of such registration, whether or not any Holder has elected to include Registrable
Securities in such registration. The expenses (other than Selling Expenses) of such withdrawn
registration shall be borne by the Company in accordance with Subsection 2.6.

     2.3 Underwriting Requirements.

               (a) If, pursuant to Subsection 2.1, the Initiating Holders intend to distribute the
Registrable Securities covered by their request by means of an underwriting, they shall so advise
the Company as a part of their request made pursuant to Subsection 2.1, and the Company
shall include such information in the Demand Notice. The underwriter(s) will be selected by the
Initiating Holders and shall be reasonably acceptable to the Company. In such event, the right of
any Holder to include such Holder’s Registrable Securities in such registration shall be
conditioned upon such Holder’s participation in such underwriting and the inclusion of such
Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders
proposing to distribute their securities through such underwriting shall (together with the Company
as provided in Subsection 2.4(i)) enter into an underwriting agreement with the
underwriter(s) selected for such underwriting. Notwithstanding any other provision of this
Subsection 2.3, if the managing underwriter(s) advise(s) the Initiating Holders in writing
that marketing factors require a limitation on the number of shares to be underwritten, then the
Initiating Holders shall so advise all Holders of Registrable Securities that otherwise would be
underwritten pursuant hereto, and the number of Registrable Securities that may be included in the
underwriting shall be allocated among such Holders of Registrable Securities, including the
Initiating Holders, in proportion (as nearly as practicable) to the number of Registrable
Securities owned by each Holder or in such other proportion as shall mutually be agreed to by all
such selling Holders; provided, however, that the number of Registrable
Securities held by the Holders to be included in such underwriting shall not be reduced unless
all other

-5-

 

securities are first entirely excluded from the underwriting. To facilitate the
allocation of shares in accordance with the above provisions, the Company or the underwriters may
round the number of shares allocated to any Holder to the nearest 100 shares.

               (b) In connection with any offering involving an underwriting of shares of the Company’s
capital stock pursuant to Subsection 2.2, the Company shall not be required to include any
of the Holders’ Registrable Securities in such underwriting unless the Holders accept the terms of
the underwriting as agreed upon between the Company and its underwriters, and then only in such
quantity as the underwriters in their sole discretion determine will not jeopardize the success of
the offering by the Company. If the total number of securities, including Registrable Securities,
requested by stockholders to be included in such offering exceeds the number of securities to be
sold (other than by the Company) that the underwriters in their reasonable discretion determine is
compatible with the success of the offering, then the Company shall be required to include in the
offering only that number of such securities, including Registrable Securities, which the
underwriters and the Company in their sole discretion determine will not jeopardize the success of
the offering. If the underwriters determine that less than all of the Registrable Securities
requested to be registered can be included in such offering, then the Registrable Securities that
are included in such offering shall be allocated among the selling Holders in proportion (as nearly
as practicable to) each Holder’s pro rata share of the aggregate number of Registrable Securities
requested to be registered or in such other proportions as shall mutually be agreed to by all such
selling Holders. To facilitate the allocation of shares in accordance with the above provisions,
the Company or the underwriters may round the number of shares allocated to any Holder to the
nearest 100 shares. Notwithstanding the foregoing, in no event shall (i) the number of Registrable
Securities included in the offering be reduced unless all other securities (other than securities
to be sold by the Company) are first entirely excluded from the offering, or (ii) the number of
Registrable Securities included in the offering be reduced below thirty percent (30%) of the total
number of securities included in such offering, unless such offering is the IPO, in which case the
selling Holders may be excluded further if the underwriters make the determination described above
and no other stockholder’s securities are included in such offering. For purposes of the provision
in this Subsection 2.3(b) concerning apportionment, for any selling Holder that is a
partnership, limited liability company, or corporation, the partners, members, retired partners,
retired members, stockholders, and Affiliates of such Holder, or the estates and Immediate Family
Members of any such partners, retired partners, members, and retired members and any trusts for the
benefit of any of the foregoing Persons, shall be deemed to be a single “selling Holder,” and any
pro rata reduction with respect to such “selling Holder” shall be based upon the aggregate number
of Registrable Securities owned by all Persons included in such “selling Holder,” as defined in
this sentence.

               (c) For purposes of Subsection 2.1, a registration shall not be counted as “effected”
if (i) as a result of an exercise of the underwriter’s cutback provisions in Subsection 2.3(a)
or otherwise, fewer than one hundred percent (100%) of the total number of Registrable
Securities that Holders have requested to be included in such registration statement are actually
included or (ii) in the case of a demand registration that, if effected, would constitute the last
permitted demand registration under this Agreement, if the Initiating Holders are not able to sell
all of the Registrable Securities included in such registration.

     2.4 Obligations of the Company. Whenever required under this Section 2 to
effect the registration of any Registrable Securities, the Company shall, as expeditiously as
reasonably possible:

               (a) prepare and file with the SEC a registration statement with respect to such Registrable
Securities, use its commercially reasonable efforts to cause such registration statement to become
effective and keep such registration statement effective for a period of up to one hundred eighty
(180) days; provided, however, that (i) such one hundred eighty (180) day period shall
be extended for a

-6-

 

period of time equal to the period the Holder refrains, at the request of an
underwriter of Common Stock (or other securities) of the Company, from selling any securities
included in such registration, and (ii) in the case of any registration of Registrable Securities
on Form S-3 that are intended to be offered on a continuous or delayed basis, subject to compliance
with applicable SEC rules, such one hundred eighty (180) day period shall be extended for up to
sixty (60) days, if necessary, to keep the registration statement effective until all such
Registrable Securities are sold;

               (b) prepare and file with the SEC such amendments and supplements to such registration
statement, and the prospectus used in connection with such registration statement, as may be
necessary to comply with the Securities Act in order to enable the disposition of all securities
covered by such registration statement;

               (c) furnish to the selling Holders such numbers of copies of a prospectus, including a
preliminary prospectus, as required by the Securities Act, and such other documents as the Holders
may reasonably request in order to facilitate their disposition of their Registrable Securities;

               (d) use its commercially reasonable efforts to register and qualify the securities covered by
such registration statement under such other securities or blue-sky laws of such jurisdictions as
shall be reasonably requested by the selling Holders; provided that the Company shall not
be required to qualify to do business or to file a general consent to service of process in any
such states or jurisdictions, unless the Company is already subject to service in such jurisdiction
and except as may be required by the Securities Act;

               (e) notify the selling Holders and the managing underwriter(s), if any, as promptly as
reasonably practicable, and (if requested) confirm such notice in writing, (i) of the issuance by
the SEC of any stop order suspending the effectiveness of a registration statement or the
initiation of any proceedings for that purpose, (ii) if the Company becomes aware, at any time
prior to consummation of the share sale and issuance that the representations and warranties of the
Company contained in any underwriting agreement, securities sale agreement, or other similar
agreement relating to the offering cease to be true and correct in any material respect, (iii) of
the receipt by the Company of any notification with respect to the suspension of the qualification
or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction,
or the initiation or overt threatening of any proceeding for such purpose, and (iv) of the
happening of any event (but not the nature or the details concerning such event) that makes any
statement made in such registration statement or related prospectus or any document incorporated or
deemed to be incorporated therein by reference or any free writing prospectus related thereto
untrue in any material respect or that requires the making of any changes in such registration
statement, prospectus, documents or free writing prospectus so that, in the case of the
registration statement, it will not contain any untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary to make the statements therein,
not misleading, and that in the case of any prospectus or free writing prospectus, it will not
contain any untrue statement of a material fact or omit to state any material fact necessary in
order to make the statements therein, in light of the circumstances under which they were made, not
misleading;

               (f) use its commercially reasonable efforts to obtain the withdrawal of any order suspending
the effectiveness of a registration statement, or the lifting of any suspension of the
qualification (or exemption from qualification) of any of the Registrable Securities for sale in
any jurisdiction at the reasonably earliest practical date;

               (g) upon the occurrence of any event contemplated by Subsections 2.4(e)(i),
(e)(ii), (e)(iii) or (e)(iv) above, prepare a supplement or post-effective
amendment to the registration
statement or a supplement to the related prospectus or any document incorporated or deemed to
be

-7-

 

incorporated therein by reference or a free writing prospectus related thereto, or file any
other required document so that, as thereafter delivered to the selling Holders, such prospectus
will not contain an untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein, in light of the circumstances
under which they were made, not misleading;

               (h) use commercially reasonable efforts to cause its senior executive officers to support the
marketing of the Registrable Securities covered by the registration statement (including, without
limitation, by participation in “road shows”, holding meetings with potential investors and taking
such other actions as shall reasonably be requested by the managing underwriter(s), if any);

               (i) in the event of any underwritten public offering, enter into and perform its obligations
under an underwriting agreement (including any Company lock-up), in usual and customary form, with
the underwriter(s) of such offering;

               (j) use its commercially reasonable efforts to cause all such Registrable Securities covered
by such registration statement to be listed on a national securities exchange or trading system and
each securities exchange and trading system (if any) on which similar securities issued by the
Company are then listed;

               (k) provide a transfer agent and registrar for all Registrable Securities registered pursuant
to this Agreement and provide a CUSIP number for all such Registrable Securities, in each case not
later than the effective date of such registration;

               (l) promptly make available for inspection by the selling Holders, any managing underwriter(s)
participating in any disposition pursuant to such registration statement, and any attorney or
accountant or other agent retained by any such underwriter or selected by the selling Holders, all
financial and other records, pertinent corporate documents, and properties of the Company, and
cause the Company’s officers, directors, employees, and independent accountants to supply all
information reasonably requested by any such seller, underwriter, attorney, accountant, or agent,
in each case, as necessary or advisable to verify the accuracy of the information in such
registration statement and to conduct appropriate due diligence in connection therewith;

               (m) notify each selling Holder, promptly after the Company receives notice thereof, of the
time when such registration statement has been declared effective or a supplement to any prospectus
forming a part of such registration statement has been filed; and

               (n) after such registration statement becomes effective, notify each selling Holder of any
request by the SEC that the Company amend or supplement such registration statement or prospectus.

     2.5 Furnish Information. It shall be a condition precedent to the obligations of the
Company to take any action pursuant to this Section 2 with respect to the Registrable
Securities of any selling Holder that such Holder shall furnish to the Company such information
regarding itself, the Registrable Securities held by it, and the intended method of disposition of
such securities as is reasonably required to effect the registration of such Holder’s Registrable
Securities.

     2.6 Expenses of Registration. All expenses (other than Selling Expenses) incurred in
connection with registrations, filings, or qualifications pursuant to Section 2, including
all registration, filing, and qualification fees; printers’ and accounting fees; fees and
disbursements of counsel for the Company; and the reasonable fees and disbursements, not to exceed
Thirty-Five Thousand (US$35,000)
Dollars, of one counsel for the selling Holders (“Selling Holder Counsel”), shall be borne and
paid by

-8-

 

the Company; provided, however, that the Company shall not be required to pay for
any expenses of any registration proceeding begun pursuant to Subsection 2.1 if the
registration request is subsequently withdrawn at the request of the Holders of a majority of the
Registrable Securities to be registered (in which case all selling Holders shall bear such expenses
pro rata based upon the number of Registrable Securities that were to be included in the withdrawn
registration), unless the Holders of a majority of the Registrable Securities agree to forfeit
their right to one registration pursuant to Subsection 2.1(a) or Subsection 2.1(b),
as the case may be; provided further that if, at the time of such withdrawal, the Holders
shall have learned of a material adverse change in the condition, business, or prospects of the
Company from that known to the Holders at the time of their request and have withdrawn the request
with reasonable promptness after learning of such information then the Holders shall not be
required to pay any of such expenses and shall not forfeit their right to one registration pursuant
to Subsection 2.1(a) or Subsection 2.1(b). All Selling Expenses relating to
Registrable Securities registered pursuant to this Section 2 shall be borne and paid by the
Holders pro rata on the basis of the number of Registrable Securities registered on their behalf.

     2.7 Delay of Registration. No Holder shall have any right to obtain or seek an
injunction restraining or otherwise delaying any registration pursuant to this Agreement as the
result of any controversy that might arise with respect to the interpretation or implementation of
this Section 2.

     2.8 Indemnification. If any Registrable Securities are included in a registration
statement under this Section 2:

               (a) To the extent permitted by law, the Company will indemnify and hold harmless each selling
Holder, and the partners, members, officers, directors, and stockholders of each such Holder; legal
counsel and accountants for each such Holder; any underwriter (as defined in the Securities Act)
for each such Holder; and each Person, if any, who controls such Holder or underwriter within the
meaning of the Securities Act or the Exchange Act, against any Damages, and the Company will pay to
each such Holder, underwriter, controlling Person, or other aforementioned Person any legal or
other expenses reasonably incurred thereby in connection with investigating or defending any claim
or proceeding from which Damages may result, as such expenses are incurred; provided,
however, that the indemnity agreement contained in this Subsection 2.8(a) shall not
apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected
without the consent of the Company, which consent shall not be unreasonably withheld, nor shall the
Company be liable for any Damages to the extent that they arise out of or are based upon actions or
omissions made in reliance upon and in conformity with written information furnished by or on
behalf of any such Holder, underwriter, controlling Person, or other aforementioned Person
expressly for use in connection with such registration.

               (b) To the extent permitted by law, each selling Holder, severally and not jointly, will
indemnify and hold harmless the Company, and each of its directors, each of its officers who has
signed the registration statement, each Person (if any), who controls the Company within the
meaning of the Securities Act, legal counsel and accountants for the Company, any underwriter (as
defined in the Securities Act), any other Holder selling securities in such registration statement,
and any controlling Person of any such underwriter or other Holder, against any Damages, in each
case only to the extent that such Damages arise out of or are based upon actions or omissions made
in reliance upon and in conformity with written information furnished by or on behalf of such
selling Holder expressly for use in connection with such registration; and each such selling Holder
will pay to the Company and each other aforementioned Person any legal or other expenses reasonably
incurred thereby in connection with investigating or defending any claim or proceeding from which
Damages may result, as such expenses are incurred; provided, however, that the indemnity
agreement contained in this Subsection 2.8(b) shall not apply to amounts paid in settlement
of any such claim or proceeding if such settlement is effected without
the consent of the Holder, which consent shall not be unreasonably withheld; and provided
further that in

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no event shall the aggregate amounts payable by any Holder by way of indemnity
or contribution under Subsections 2.8(b) and 2.8(d) exceed the proceeds from the
offering received by such Holder (net of any Selling Expenses paid by such Holder), except in the
case of fraud or willful misconduct by such Holder.

               (c) Promptly after receipt by an indemnified party under this Subsection 2.8 of notice
of the commencement of any action (including any governmental action) for which a party may be
entitled to indemnification hereunder, such indemnified party will, if a claim in respect thereof
is to be made against any indemnifying party under this Subsection 2.8, give the
indemnifying party notice of the commencement thereof. The indemnifying party shall have the right
to participate in such action and, to the extent the indemnifying party so desires, participate
jointly with any other indemnifying party to which notice has been given, and to assume the defense
thereof with counsel mutually satisfactory to the parties; provided, however, that an
indemnified party (together with all other indemnified parties that may be represented without
conflict by one counsel) shall have the right to retain one separate counsel, with the fees and
expenses to be paid by the indemnifying party, if representation of such indemnified party by the
counsel retained by the indemnifying party would be inappropriate due to actual or potential
differing interests between such indemnified party and any other party represented by such counsel
in such action. The failure to give notice to the indemnifying party within a reasonable time of
the commencement of any such action shall relieve such indemnifying party of any liability to the
indemnified party under this Subsection 2.8, only if and to the extent that such failure
materially prejudices the indemnifying party’s ability to defend such action. The failure to give
notice to the indemnifying party will not relieve it of any liability that it may have to any
indemnified party otherwise than under this Subsection 2.8.

               (d) To provide for just and equitable contribution to joint liability under the Securities Act
in any case in which either (i) any party otherwise entitled to indemnification hereunder makes a
claim for indemnification pursuant to this Subsection 2.8 but it is judicially determined
(by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration
of time to appeal or the denial of the last right of appeal) that such indemnification may not be
enforced in such case, notwithstanding the fact that this Subsection 2.8 provides for
indemnification in such case, or (ii) contribution under the Securities Act may be required on the
part of any party hereto for which indemnification is provided under this Subsection 2.8,
then, and in each such case, such parties will contribute to the aggregate losses, claims, damages,
liabilities, or expenses to which they may be subject (after contribution from others) in such
proportion as is appropriate to reflect the relative fault of each of the indemnifying party and
the indemnified party in connection with the statements, omissions, or other actions that resulted
in such loss, claim, damage, liability, or expense, as well as to reflect any other relevant
equitable considerations. The relative fault of the indemnifying party and of the indemnified
party shall be determined by reference to, among other things, whether the untrue or allegedly
untrue statement of a material fact, or the omission or alleged omission of a material fact,
relates to information supplied by the indemnifying party or by the indemnified party and the
parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent
such statement or omission; provided, however, that, in any such case, (x) no Holder will
be required to contribute any amount in excess of the public offering price of all such Registrable
Securities offered and sold by such Holder pursuant to such registration statement, and (y) no
Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) will be entitled to contribution from any Person who was not guilty of such
fraudulent misrepresentation (as determined by a court of competent jurisdiction); and provided
further that in no event shall a Holder’s liability pursuant to this Subsection 2.8(d),
when combined with the amounts paid or payable by such Holder pursuant to Subsection
2.8(b), exceed the proceeds from the offering received by such Holder (net of any Selling
Expenses paid by such Holder), except in the case of willful misconduct or fraud by such Holder.

               (e) Unless otherwise superseded by an underwriting agreement entered into in connection with
the underwritten public offering, the obligations of the Company and Holders under

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this
Subsection 2.8 shall survive the completion of any offering of Registrable Securities in a
registration under this Section 2, and otherwise shall survive the termination of this
Agreement.

     2.9 Reports Under Exchange Act. With a view to making available to the Holders the
benefits of SEC Rule 144 and any other rule or regulation of the SEC that may at any time permit a
Holder to sell securities of the Company to the public without registration or pursuant to a
registration on Form S-3, the Company shall:

               (a) make and keep available adequate current public information, as those terms are understood
and defined in SEC Rule 144, at all times after the effective date of the registration statement
filed by the Company for the IPO;

               (b) use commercially reasonable efforts to file with the SEC in a timely manner all reports
and other documents required of the Company under the Securities Act and the Exchange Act (at any
time after the Company has become subject to such reporting requirements); and

               (c) furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith
upon request (i) to the extent accurate, a written statement by the Company that it has complied
with the reporting requirements of SEC Rule 144 (at any time after ninety (90) days after the
effective date of the registration statement filed by the Company for the IPO), the Securities Act,
and the Exchange Act (at any time after the Company has become subject to such reporting
requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form
S-3 (at any time after the Company so qualifies); and (ii) such other information as may be
reasonably requested in availing any Holder of any rule or regulation of the SEC that permits the
selling of any such securities without registration (at any time after the Company has become
subject to the reporting requirements under the Exchange Act) or pursuant to Form S-3 (at any time
after the Company so qualifies to use such form).

     2.10 Limitations on Subsequent Registration Rights. From and after the date of this
Agreement, the Company shall not, without the prior written consent of the Holders of at least a
majority of the Registrable Securities then outstanding, enter into any agreement with any holder
or prospective holder of any securities of the Company that would provide to such holder the right
to include securities in any registration on other than on a subordinate basis after all Holders
have had the opportunity to include in the registration and offering all shares of Registrable
Securities that they wish to so include.

     2.11 “Market Stand-off” Agreement. Each Holder hereby agrees that it will not,
without the prior written consent of the managing underwriter, during the period commencing on the
date of the final prospectus relating to the IPO registration and ending on the date specified by
the Company and the managing underwriter (such period not to exceed one hundred eighty (180) days,
or such other period as may be requested by the Company or an underwriter to accommodate regulatory
restrictions on (1) the publication or other distribution of research reports and (2) analyst
recommendations and opinions, including, but not limited to, the restrictions contained in FINRA
Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto), (i)
lend; offer; pledge; sell; contract to sell; sell any option or contract to purchase; purchase any
option or contract to sell; grant any option, right, or warrant to purchase; or otherwise transfer
or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible
into or exercisable or exchangeable (directly or indirectly) for Common Stock held immediately
before the effective date of the registration statement for such offering or (ii) enter into any
swap or other arrangement that transfers to another, in whole or in part, any of the economic
consequences of ownership of such securities, whether any such transaction described in clause (i)
or (ii) above is to be settled by delivery of Common Stock or other securities, in cash, or
otherwise. The foregoing provisions of this Subsection 2.11 shall be applicable to
the Holders only if all officers, directors and stockholders individually owning more than one
percent (1%) of the Company’s

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outstanding Common Stock (after giving effect to conversion into
Common Stock of all outstanding Class A Common Stock and Class B Common Stock) are subject to the
same restrictions. The underwriters in connection with such registration are intended third-party
beneficiaries of this Subsection 2.11 and shall have the right, power, and authority to
enforce the provisions hereof as though they were a party hereto. Each Holder further agrees to
execute such agreements as may be reasonably requested by the underwriters in connection with such
registration that are consistent with this Subsection 2.11 or that are necessary to give
further effect thereto. Any discretionary waiver or termination of the restrictions of any or all
of such agreements by the Company or the underwriters shall apply pro rata to all Holders and other
stockholders subject to such agreements, based on the number of shares subject to such agreements.

     2.12 Restrictions on Transfer.

               (a) The Class A Common Stock, Class B Common Stock and the Registrable Securities shall not be
sold, pledged, or otherwise transferred, and the Company shall not recognize and shall issue
stop-transfer instructions to its transfer agent with respect to any such sale, pledge, or
transfer, except upon the conditions specified in this Agreement and the Right of First Refusal and
Co-Sale Agreement, which conditions are intended to ensure compliance with the provisions of the
Securities Act. A transferring Holder will cause any proposed purchaser, pledgee, or transferee of
the Class A Common Stock, Class B Common Stock and the Registrable Securities held by such Holder
to agree to take and hold such securities subject to the provisions and upon the conditions
specified in this Agreement.

               (b) Each certificate or instrument representing (i) the Class A Common Stock, (ii) the Class B
Common Stock (iii) the Registrable Securities, and (iv) any other securities issued in respect of
the securities referenced in clauses (i), (ii) and (iii), upon any stock split, stock dividend,
recapitalization, merger, consolidation, or similar event, shall (unless otherwise permitted by the
provisions of Subsection 2.12(c)) be stamped or otherwise imprinted with a legend
substantially in the following form:

THE SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT
AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. SUCH
SHARES MAY NOT BE SOLD, PLEDGED, OR TRANSFERRED IN THE ABSENCE OF
SUCH REGISTRATION OR A VALID EXEMPTION FROM THE REGISTRATION AND
PROSPECTUS DELIVERY REQUIREMENTS OF SAID ACT.

THE SECURITIES REPRESENTED HEREBY MAY BE TRANSFERRED ONLY IN
ACCORDANCE WITH THE TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND
THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF
THE COMPANY.

The Holders consent to the Company making a notation in its records and giving instructions to any
transfer agent of the Restricted Securities in order to implement the restrictions on transfer set
forth in this Subsection 2.12.

               (c) The Holder of each certificate representing Restricted Securities, by acceptance thereof,
agrees to comply in all respects with the provisions of this Section 2. Before any
proposed sale, pledge, or transfer of any Restricted Securities, unless there is in effect a
registration
statement under the Securities Act covering the proposed transaction, the Holder thereof shall
give notice to the Company of such Holder’s intention to effect such sale, pledge, or transfer.
Each such notice shall

-12-

 

describe the manner and circumstances of the proposed sale, pledge, or
transfer in sufficient detail and, if reasonably requested by the Company, shall be accompanied at
such Holder’s expense by either (i) a written opinion of legal counsel who shall, and whose legal
opinion shall, be reasonably satisfactory to the Company, addressed to the Company, to the effect
that the proposed transaction may be effected without registration under the Securities Act; (ii) a
“no action” letter from the SEC to the effect that the proposed sale, pledge, or transfer of such
Restricted Securities without registration will not result in a recommendation by the staff of the
SEC that action be taken with respect thereto; or (iii) any other evidence reasonably satisfactory
to counsel to the Company to the effect that the proposed sale, pledge, or transfer of the
Restricted Securities may be effected without registration under the Securities Act, whereupon the
Holder of such Restricted Securities shall be entitled to sell, pledge, or transfer such Restricted
Securities in accordance with the terms of the notice given by the Holder to the Company. The
Company will not require such a legal opinion or “no action” letter (x) in any transaction in
compliance with SEC Rule 144 or (y) in any transaction in which such Holder distributes Restricted
Securities to an Affiliate of such Holder for no consideration; provided that each transferee
agrees in writing to be subject to the terms of this Subsection 2.12. Each certificate or
instrument evidencing the Restricted Securities transferred as above provided shall bear, except if
such transfer is made pursuant to SEC Rule 144, the appropriate restrictive legend set forth in
Subsection 2.12(b), except that such certificate shall not bear such restrictive legend if,
in the opinion of counsel for such Holder and the Company, such legend is not required in order to
establish compliance with any provisions of the Securities Act.

     2.13 Termination of Registration Rights. The right of any Holder to request
registration or inclusion of Registrable Securities in any registration pursuant to Subsection 2.1
or Subsection 2.2 shall terminate upon the earliest to occur of:

               (a) the closing of a Deemed Liquidation Event, as such term is defined in the Charter;

               (b) such time as Rule 144 or another similar exemption under the Securities Act is available
for the sale of all of such Holder’s shares without limitation during a six (6)-month period
without registration; and

               (c) the fifth anniversary of the IPO.

     3. Information Rights.

     3.1 Delivery of Financial Statements. The Company shall deliver to each Major
Investor:

               (a) as soon as practicable, but in any event within ninety (90) days after the end of each
fiscal year of the Company, (i) a balance sheet as of the end of such year, (ii) statements of
income and of cash flows for such year, and a comparison between (x) the actual amounts as of and
for such fiscal year and (y) the comparable amounts for the prior year and as included in the
Budget (as defined in Subsection 3.1(e)) for such year, with an explanation of any material
differences between such amounts and a schedule as to the sources and applications of funds for
such year, (iii) a statement of stockholders’ equity as of the end of such year, (iv) a statement
showing the number of shares of each class and series of capital stock and securities convertible
into or exercisable for shares of capital stock outstanding at the end of the period, the Common
Stock issuable upon conversion or exercise of any outstanding securities convertible or exercisable
for Common Stock and the exchange ratio or exercise price applicable thereto, and the number of
shares of issued stock options and stock options not yet issued
but reserved for issuance, if any, all in sufficient detail as to permit the Major Investors
to calculate their respective percentage equity ownership in the Company, and certified by the
chief financial officer or chief executive officer of the Company as being true, complete, and
correct; and (v) other information as

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determined by the Board of Directors, all such financial
statements audited and certified by independent public accountants of regionally recognized
standing selected by the Company;

               (b) as soon as practicable, but in any event within ten (10) days after the end of each of the
first three (3) quarters of each fiscal year of the Company, unaudited statements of income and of
cash flows for such fiscal quarter, and an unaudited balance sheet, a statement of stockholders’
equity as of the end of such fiscal quarter, and other information as determined by the Board of
Directors, all prepared in accordance with GAAP (except that such financial statements may (i) be
subject to normal year-end audit adjustments and (ii) not contain all notes thereto that may be
required in accordance with GAAP);

               (c) as soon as practicable, but in any event within seven (7) days of the end of each month,
unaudited statements of income and of cash flows for such month, and an unaudited balance sheet as
of the end of such month, all prepared in accordance with GAAP (except that such financial
statements may (i) be subject to normal year-end audit adjustments and (ii) not contain all notes
thereto that may be required in accordance with GAAP);

               (d) as soon as practicable, but in any event within ten (10) days after the end of each of the
first three (3) quarters of each fiscal year of the Company, a statement showing the number of
shares of each class and series of capital stock and securities convertible into or exercisable for
shares of capital stock outstanding at the end of the period, the Common Stock issuable upon
conversion or exercise of any outstanding securities convertible or exercisable for Common Stock
and the exchange ratio or exercise price applicable thereto, and the number of shares of issued
stock options and stock options not yet issued but reserved for issuance, if any, all in sufficient
detail as to permit the Major Investors to calculate their respective percentage equity ownership
in the Company, and certified by the chief financial officer or chief executive officer of the
Company as being true, complete, and correct;

               (e) as soon as practicable, but in any event within thirty (30) days prior to end of each
fiscal year, a budget and business plan forecasting, the Company’s revenues, expenses and cash
position on a month-to-month basis for the next fiscal year (collectively, the “Budget”), approved
by the Board of Directors and prepared on a monthly basis, including balance sheets, income
statements, and statements of cash flow for such months and, promptly after prepared, any other
budgets or revised budgets prepared by the Company; and

               (f) such other information relating to the financial condition, business, prospects, or
corporate affairs of the Company as any Major Investor may from time to time reasonably request;
provided, however, that the Company shall not be obligated under this Subsection
3.1 to provide information (i) that the Company reasonably determines in good faith to be a
trade secret or confidential information (unless covered by an enforceable confidentiality
agreement, in form reasonably acceptable to the Company) or (ii) the disclosure of which would
adversely affect the attorney-client privilege between the Company and its counsel.

If, for any period, the Company has any subsidiary whose accounts are consolidated with those of
the Company, then in respect of such period the financial statements delivered pursuant to the
foregoing sections shall be the consolidated and consolidating financial statements of the Company
and all such consolidated subsidiaries.

Notwithstanding anything else in this Subsection 3.1 to the contrary, the Company may cease
providing the information set forth in this Subsection 3.1 during the period starting with
the date thirty (30) days before the Company’s good-faith estimate of the date of filing of a
registration statement if it reasonably concludes it must do so to comply with the SEC rules
applicable to such registration statement and related

-14-

 

offering; provided that the Company’s
covenants under this Subsection 3.1 shall be reinstated at such time as the Company is no
longer actively employing its commercially reasonable efforts to cause such registration statement
to become effective.

     3.2 Inspection. The Company shall permit each Major Investor, at such Major
Investor’s expense, to visit and inspect the Company’s properties; examine its books of account and
records; and discuss the Company’s affairs, finances, and accounts with its officers, during normal
business hours of the Company as may be reasonably requested by the Major Investor; provided,
however, that the Company shall not be obligated pursuant to this Subsection 3.2 to
provide access to any information that it reasonably and in good faith considers to be a trade
secret or confidential information (unless covered by an enforceable confidentiality agreement, in
form reasonably acceptable to the Company,) or the disclosure of which would adversely affect the
attorney-client privilege between the Company and its counsel.

     3.3 Termination of Information Rights. The covenants set forth in Subsections
3.1 and 3.2 shall terminate and be of no further force or effect (i) immediately before
but subject to the consummation of the IPO, (ii) when the Company first becomes subject to the
periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon a
Deemed Liquidation Event, as such term is defined in the Charter, whichever event occurs first.

     3.4 Confidentiality. Each Investor agrees that such Investor will keep confidential
and will not disclose, divulge, or use for any purpose (other than to monitor its investment in the
Company) any confidential information obtained from the Company pursuant to the terms of this
Agreement (including notice of the Company’s intention to file a registration statement), unless
such confidential information (a) is known or becomes known to the public in general (other than as
a result of a breach of this Subsection 3.4 by such Investor), (b) is or has been
independently developed or conceived by the Investor without use of the Company’s confidential
information, or (c) is or has been made known or disclosed to the Investor by a third party without
a breach of any obligation of confidentiality such third party may have to the Company;
provided, however, that an Investor may disclose confidential information (i) to its
attorneys, accountants, consultants, and other professionals to the extent necessary to obtain
their services in connection with monitoring its investment in the Company; (ii) to any prospective
purchaser of any Registrable Securities from such Investor, if such prospective purchaser agrees to
be bound by the provisions of this Subsection 3.4; (iii) to any existing or prospective
Affiliate, partner, member, stockholder, or wholly owned subsidiary of such Investor in the
ordinary course of business, provided that such Investor informs such Person that such
information is confidential and directs such Person to maintain the confidentiality of such
information; or (iv) as may otherwise be required by law, provided that the Investor
promptly notifies the Company of such disclosure and takes reasonable steps to minimize the extent
of any such required disclosure.

     4. Rights to Future Stock Issuances.

     4.1 Right of First Offer. Subject to the terms and conditions of this Subsection
4.1 and applicable securities laws, if the Company proposes to offer or sell any New
Securities, the Company shall first offer such New Securities to each Investor. A Major Investor
shall be entitled to apportion the right of first offer hereby granted to it among itself and its
Affiliates in such proportions as it deems appropriate.

               (a) The Company shall give notice (the “Offer Notice”) to each Investor, stating (i) its bona
fide intention to offer such New Securities, (ii) the number of such New Securities to be offered,
and (iii) the price and terms, if any, upon which it proposes to offer such New Securities.

-15-

 

               (b) By notification to the Company within twenty (20) days after the Offer Notice is given,
each Investor may elect to purchase or otherwise acquire, at the price and on the terms specified
in the Offer Notice, up to that portion of such New Securities which equals the proportion that the
Common Stock issued and held, or issuable (directly or indirectly) upon conversion and/or exercise,
as applicable, of the Class A Common Stock, Class B Common Stock and any other Derivative
Securities then held, by such Investor bears to the total Common Stock of the Company then
outstanding (assuming full conversion and/or exercise, as applicable, of all Class A Common Stock,
Class B Common Stock and other Derivative Securities). At the expiration of such twenty (20) day
period, the Company shall promptly notify each Investor that elects to purchase or acquire all the
shares available to it (each, a “Fully Exercising Investor”) of any other Investor’s failure to do
likewise. During the ten (10) day period commencing after the Company has given such notice, each
Fully Exercising Investor may, by giving notice to the Company, elect to purchase or acquire, in
addition to the number of shares specified above, up to that portion of the New Securities for
which Investors were entitled to subscribe but that were not subscribed for by the Investors which
is equal to the proportion that the Common Stock issued and held, or issuable (directly or
indirectly) upon conversion and/or exercise, as applicable, of Class A Common Stock, Class B Common
Stock and any other Derivative Securities then held, by such Fully Exercising Investor bears to the
Common Stock issued and held, or issuable (directly or indirectly) upon conversion and/or exercise,
as applicable, of the Class A Common Stock, Class B Common Stock and any other Derivative
Securities then held, by all Fully Exercising Investors who wish to purchase such unsubscribed
shares. The closing of any sale pursuant to this Subsection 4.1(b) shall occur within the
later of ninety (90) days of the date that the Offer Notice is given and the date of initial sale
of New Securities pursuant to Subsection 4.1(c).

               (c) If all New Securities referred to in the Offer Notice are not elected to be purchased or
acquired as provided in Subsection 4.1(b), the Company may, during the ninety (90) day
period following the expiration of the periods provided in Subsection 4.1(b), offer and
sell the remaining unsubscribed portion of such New Securities to any Person or Persons at a price
not less than, and upon terms no more favorable to the offeree than, those specified in the Offer
Notice. If the Company does not enter into an agreement for the sale of the New Securities within
such period, or if such agreement is not consummated within thirty (30) days of the execution
thereof, the right provided hereunder shall be deemed to be revived and such New Securities shall
not be offered unless first reoffered to the Investors in accordance with this Subsection
4.1.

               (d) The right of first offer in this Subsection 4.1 shall not be applicable to (i)
Exempted Securities (as defined in the Charter); (ii) shares of Common Stock issued in the IPO; and
(iii) securities issued in connection with the acquisition by the Company of voting control or all
or substantially all of the assets of another business entity in a transaction approved by the
Board of Directors.

               (e) The right of first offer set forth in this Subsection 4.1 shall be reduced with
respect to any Investor who fails to purchase, in any transaction subject to this Subsection
4.1, all of such Investor’s pro rata amount of the New Securities allocated (or, if less than
such Investor’s pro rata amount is offered by the Company, such lesser amount so offered). to such
Investor pursuant to this Subsection 4.1. Such Investor shall thereafter have the right to
participate in future offers only to the extent of its percentage participation in the previous
offer, if any.

               (f) The right of first offer set forth in this Subsection 4.1 may be waived as to the
Investors by PTT Chemical International Private Limited (“PTTCH”).

               (g) Any issuance of New Securities not made in compliance with the requirements of this
Agreement shall be null and void ab initio, shall not be recorded on the books of the

-16-

 

Company or
its transfer agent and shall not be recognized by the Company. Each party hereto acknowledges and
agrees that any breach of this Agreement would result in substantial harm to the other parties
hereto for which monetary damages alone could not adequately compensate. Therefore, the parties
hereto unconditionally and irrevocably agree that any non-breaching party hereto shall be entitled
to seek protective orders, injunctive relief and other remedies available at law or in equity
(including, without limitation, seeking specific performance or the rescission of purchases, sales
and other issuances of New Securities not made in strict compliance with this Agreement).

     4.2 Termination. The covenants set forth in Subsection 4.1 shall terminate
and be of no further force or effect (i) immediately before but subject to the consummation of the
IPO, or (ii) upon a Deemed Liquidation Event, as such term is defined in the Charter, whichever
event occurs first.

     5. Additional Covenants.

     5.1 Indemnification Agreements; D&O Insurance. The Company will enter into standard
indemnification agreements with each of the members of the Board of Directors. The Company shall
use its commercially reasonable efforts to obtain, within ninety (90) days of the date hereof, from
financially sound and reputable insurers Directors and Officers liability insurance in an amount
and on terms and conditions satisfactory to a majority of the Board of Directors, and will use
commercially reasonable efforts to cause such insurance policies to be maintained until such time
as the Board of Directors determines that such insurance should be discontinued.

     5.2 Board Matters. Unless otherwise determined by the vote of a majority of the
directors then in office (including at least one director nominated by PTTCH), the Board of
Directors shall meet at least quarterly in accordance with an agreed-upon schedule. A quorum for
any meeting of the Board of Directors shall be a majority of the members of the Board of Directors
then in office, including at least one director nominated by PTTCH and at least one director
nominated by any of Norwood LDK, LLC, Plainfield Direct LLC. or Green Chem Second Edition, LLC.
The Company shall reimburse the nonemployee directors for all reasonable out-of-pocket travel
expenses incurred (consistent with the Company’s travel policy) in connection with attending
meetings of the Board of Directors. Each non-employee director shall be entitled in such person’s
discretion to be a member of any Board committee.

     5.3 Nondisclosure Agreements. The Company will cause the Chief Executive Officer of
the Company and each person now or hereafter employed by it or by any subsidiary (or engaged by the
Company or any subsidiary as a consultant/independent contractor) with access to confidential
information and/or trade secrets to enter into a nondisclosure and proprietary rights assignment
agreement in the form previously made available to PTTCH and its counsel. In addition, the Company
will revise such form for future use based on PTTCH’s reasonable input and will ensure that all
individuals who are now or are hereafter employees or consultants of the Company with access to
confidential information and/or trade secrets following the Closing will enter into a nondisclosure
and proprietary rights assignment agreement in such revised form.

     5.4 Noncompetition Agreements. The Company will cause each officer, management level
employee and key scientific and engineering employee now employed by it or by any subsidiary to
enter into a noncompetition agreement in the form previously made available to PTTCH and its
counsel.
In addition, the Company will revise such form for future use based on PTTCH’s reasonable
input and will ensure that all individuals who hereafter enter into new employment contracts or
become officers, management level employees and key scientific and engineering employees following
the Closing will enter into a noncompetition agreement in such revised form with a term which the
Company believes in its reasonable opinion, is the maximum allowed by the law of the individual’s
employing jurisdiction but in any event not exceeding twenty-four (24) months.

-17-

 

     5.5 Employment Agreements. The Company has or will cause each senior management level
employee of the Company to enter into the form of employment offer letter or agreement in the forms
previously made available to PTTCH and its counsel. In addition, the Company will revise such
forms for future use based on PTTCH’s reasonable input and will ensure that individuals who are now
or are hereafter members of senior management of the Company following the Closing will enter into
offer letters or agreement in such revised forms.

     5.6 Successor Indemnification. If the Company or any of its successors or assignees
consolidates with or merges into any other Person and is not the continuing or surviving
corporation or entity of such consolidation or merger, or transfers all of its assets, the proper
provisions shall be made so that the successors and assignees of the Company assume the obligations
of the Company with respect to indemnification of members of the Board of Directors as in effect
immediately before such transaction, whether such obligations are contained in the Company’s
Bylaws, the Charter, or elsewhere, as the case may be.

     5.7 Termination of Covenants. The covenants set forth in this Section 5,
except for Subsection 5.6, shall terminate and be of no further force or effect (i)
immediately before but subject to the consummation of the IPO, (ii) as to any Investor, at such
time as the Investor holds less than 10% of the Registrable Securities it acquires at the Closing
(as defined in the Purchase Agreement) or in the Debt Conversion, or (iii) upon a Deemed
Liquidation Event, as such term is defined in the Charter, whichever event occurs first.

     6. Miscellaneous.

     6.1 Successors and Assigns. The rights under this Agreement may be assigned (but only
with all related obligations) by a Holder to a transferee that receives Registrable Securities in
compliance with this Agreement and the Right of First Refusal and Co-Sale Agreement that (i) is a
partner or an Affiliate of a Holder; (ii) is a Holder’s Immediate Family Member or trust for the
benefit of an individual Holder or one or more of such Holder’s Immediate Family Members; or (iii)
after such transfer, holds at least 500,000 shares of Registrable Securities (subject to
appropriate adjustment for stock splits, stock dividends, combinations, and other
recapitalizations); provided, however, that (w) all such transfers of Registrable Securities have
been made in compliance with this Agreement and the Right of First Refusal and Co-Sale Agreement;
(x) the Company is, within a reasonable time after such transfer, furnished with written notice of
the name and address of such transferee and the Registrable Securities with respect to which such
rights are being transferred; and (y) such transferee agrees in a written instrument delivered to
the Company to be bound by and subject to the terms and conditions of this Agreement, including the
provisions of Subsection 2.11. For the purposes of determining the number of shares of
Registrable Securities held by a transferee, the holdings of a transferee (1) that is an Affiliate
or stockholder of a Holder; (2) who is a Holder’s Immediate Family Member; or (3) that is a trust
for the benefit of an individual Holder or such Holder’s Immediate Family Member shall be
aggregated together with those of the transferring Holder; provided further that
all transferees who would not qualify individually for assignment of rights shall have a single
attorney-in-fact for the purpose of exercising any rights, receiving notices, or taking any action
under this Agreement. The terms and conditions of this Agreement inure to the benefit of and are
binding upon the respective successors and permitted assignees
of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any
party other than the parties hereto or their respective successors and permitted assignees any
rights, remedies, obligations or liabilities under or by reason of this Agreement, except as
expressly provided herein.

     6.2 Governing Law. This Agreement and any controversy arising out of or relating to
this Agreement shall be governed by and construed in accordance with the internal laws of the State
of New

-18-

 

York, without regard to conflict of law principles that would result in the application of
any law other than the law of the State of New York.

     6.3 Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same
instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf) or other
transmission method and any counterpart so delivered shall be deemed to have been duly and validly
delivered and be valid and effective for all purposes.

     6.4 Titles and Subtitles. The titles and subtitles used in this Agreement are for
convenience only and are not to be considered in construing or interpreting this Agreement.

     6.5 Notices. All notices and other communications given or made pursuant to this
Agreement shall be in writing and shall be deemed effectively given upon the earlier of actual
receipt or: (i) personal delivery to the party to be notified; (ii) when sent, if sent by
electronic mail or facsimile during the recipient’s normal business hours, and if not sent during
normal business hours, then on the recipient’s next business day, provided in either case, that the
facsimile transmission is promptly confirmed by telephone; (iii) five (5) days after having been
sent by registered or certified mail, return receipt requested, postage prepaid; or (iv) one (1)
business day after the business day of deposit with a nationally recognized overnight courier,
freight prepaid, specifying next-day delivery, with written verification of receipt. All
communications shall be sent to the respective parties at their addresses as set forth on
Schedule A hereto, or to the principal office of the Company and to the attention of the
Chief Executive Officer, in the case of the Company, or to such email address, facsimile number, or
address as subsequently modified by written notice given in accordance with this Subsection
6.5. If notice is given to the Company, a copy shall also be sent to (a) DLA Piper LLP (US),
2000 University Avenue, East Palo Alto, California 94303-2215, USA, Attention: Curtis L. Mo,
facsimile: 650-687-1170, email: curtis.mo@dlapiper.com and (b) Byron S. Kalogerou, McDermott Will &
Emery, 28 State Street, 34th Floor, Boston, Massachusetts 02109-1775, USA, facsimile: 617-321-4605;
email:bkalogerou@mwe.com. If notice is given to PTTCH, a copy shall also be given to Allen & Overy
(Thailand) Co., Ltd., 22nd Floor Sindhorn Building Tower III, 130-132 Wireless Road, Lumpini
Pathumwan, Bangkok 10330, Thailand, Attention: Arkrapol Pichedvanichok, facsimile: +66 (0)2 263
7699, email: arkrapol.pichedvanichok@allenovery.com.

     6.6 Amendments and Waivers. Any term of this Agreement may be amended and the
observance of any term of this Agreement may be waived (either generally or in a particular
instance, and either retroactively or prospectively) only with the written consent of the Company
and the holders of at least a majority of the Registrable Securities then outstanding; provided
that the Company may in its sole discretion waive compliance with Subsection 2.12(c)
(and the Company’s failure to object promptly in writing after notification of a proposed
assignment allegedly in violation of Subsection 2.12(c) shall be deemed to be a waiver);
and provided further that any provision hereof may be waived by any waiving party
on such party’s own behalf, without the consent of any other party. Notwithstanding the foregoing,
this Agreement may not be amended or terminated and the observance of any term hereof may not be
waived with respect to any Investor without the written consent of such Investor. The Company shall
give prompt notice of any amendment or termination hereof or waiver hereunder, in each case with
respect to a particular Investor, to each other Investor. Any amendment, termination, or waiver
effected in
accordance with this Subsection 6.6 shall be binding only on those parties who have
expressly consented in writing thereto. No waivers of or exceptions to any term, condition, or
provision of this Agreement, in any one or more instances, shall be deemed to be or construed as a
further or continuing waiver of any such term, condition, or provision.

-19-

 

     6.7 Severability. In case any one or more of the provisions contained in this
Agreement is for any reason held to be invalid, illegal or unenforceable in any respect, such
invalidity, illegality, or unenforceability shall not affect any other provision of this Agreement,
and such invalid, illegal, or unenforceable provision shall be reformed and construed so that it
will be valid, legal, and enforceable to the maximum extent permitted by law.

     6.8 Aggregation of Stock. All shares of Registrable Securities held or acquired by
Affiliates shall be aggregated together for the purpose of determining the availability of any
rights under this Agreement and such Affiliated persons may apportion such rights as among
themselves in any manner they deem appropriate.

     6.9 Additional Investors. Notwithstanding anything to the contrary contained herein,
if the Company issues additional shares of Class A Common Stock or Class B Common Stock after the
date hereof (provided that such shares are issued in accordance with the Charter and this
Agreement, as applicable), any acquirer of such shares of Class A Common Stock or Class B Common
Stock may become a party to this Agreement by executing and delivering an additional counterpart
signature page to this Agreement and thereafter shall be deemed an “Investor” for all purposes
hereunder. In such case, Schedule A hereto may be amended by the Company to add such
person without the consent of the other parties hereto.

     6.10 Entire Agreement. This Agreement (including any Schedules and Exhibits hereto),
the Charter and the other Transaction Agreements (as defined in the Purchase Agreement) constitute
the full and entire understanding and agreement among the parties with respect to the subject
matter hereof, and any other written or oral agreement relating to the subject matter hereof
existing between the parties is expressly canceled.

     6.11 Dispute Resolution. Any unresolved controversy or claim arising out of or
relating to this Agreement, except (i) as otherwise provided in this Agreement or (ii) any such
controversies or claims arising out of either party’s intellectual property rights for which a
provisional remedy or equitable relief is sought, shall be submitted to arbitration administered by
the American Arbitration Association (the “AAA”) in accordance with the International Commercial
Arbitration Rules then in effect. There shall be one (1) arbitrator mutually agreed upon by the
parties from the names of potential arbitrators proposed by the AAA. If no agreement on the sole
arbitrator can be reached within thirty (30) days after names of potential arbitrators have been
proposed by the AAA, then the AAA shall select the sole arbitrator, who shall have at least ten
(10) years experience in corporate finance transactions of the type provided for in this Agreement.
The arbitration shall take place in New York, New York, and any award shall be final and binding
and judgment thereon may be entered in any court having jurisdiction thereof. Each party will bear
its own costs in respect of any disputes arising under this Agreement. Each of the parties to this
Agreement consents to personal jurisdiction for any equitable action sought in the U.S. District
Court for the Southern District of New York or any court of the State of New York having subject
matter jurisdiction.

     6.12 Delays or Omissions. No delay or omission to exercise any right, power, or
remedy accruing to any party under this Agreement, upon any breach or default of any other party
under this Agreement, shall impair any such right, power, or remedy of such nonbreaching or
nondefaulting party, nor shall it be construed to be a waiver of or acquiescence to any such breach
or default, or to any
similar breach or default thereafter occurring, nor shall any waiver of any single breach or
default be deemed a waiver of any other breach or default theretofore or thereafter occurring. All
remedies, whether under this Agreement or by law or otherwise afforded to any party, shall be
cumulative and not alternative.

[Remainder of Page Intentionally Left Blank]

-20-

 

          IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above.

	 	 	 	 	 
	 	COMPANY:

MYRIANT TECHNOLOGIES, INC.

 	 
	 	By:  	/s/ Stephen J. Gatto
 	 
	 	 	Name:  	Stephen J. Gatto 	 
	 	 	Title:  	Chairman and CEO 	 
	 
	 	Address:

1 Pinehill Drive

Batterymarch Park II, Suite 301

Quincy, MA 02169-4801

Facsimile: (617) 657-5210

Email: sgatto@myriant.com
 	 
	 
	 	INVESTORS:

PTT CHEMICAL INTERNATIONAL PRIVATE LIMITED

 	 
	 	By:  	                       /s/ Narongsak Jivakanun
 	 
	 	 	Name:  	Narongsak Jivakanun 	 
	 	 	Title:  	Chief Executive Officer 	 
	 
	 	GREEN CHEM HOLDINGS, LLC

 	 
	 	By:  	/s/ Steven M. Sisselman
 	 
	 	 	Name:  	Steven M. Sisselman 	 
	 	 	Title:  	President 	 
	 
	 	GREEN CHEM SECOND EDITION, LLC

 	 
	 	By:  	/s/ Steven M. Sisselman
 	 
	 	 	Name:  	Steven M. Sisselman 	 
	 	 	Title:  	President 	 
	 
	 	PLAINFIELD FINANCE II LLC

 	 
	 	By:  	/s/ Thomas X. Fritsch
 	 
	 	 	Name:  	Thomas X. Fritsch 	 
	 	 	Title:  	Co-General Counsel 	 
	 
	 	PLAINFIELD DIRECT LLC

 	 
	 	By:  	/s/ Thomas X. Fritsch
 	 
	 	 	Name:  	Thomas X. Fritsch 	 
	 	 	Title:  	Co-General Counsel 	 
	 
	 	STEPHEN J. GATTO

 	 
	 	/s/ Stephen J. Gatto
 	 

Signature Page to Myriant Technologies, Inc. Investors’ Rights Agreement

 

 

SCHEDULE A

Investors

               Name and Address

PTT Chemical International Private Limited

391B Orchard Road, #15-05/08

Ngee Ann City Tower B

Singapore 238874

Attn: Mr. Narongsak Jivakanun

Fax: +65.6.734.3397

Plainfield Direct LLC and

Plainfield Finance II LLC

c/o Plainfield Asset Management, LLC

333 Ludlow Street

Stamford, CT 06902

Attn: James Healy

Jim.healy@pfam.com

Fax: 203.302.1779

Green Chem Holdings, LLC

9995 Gate Parkway N., Suite 400

Jacksonville, FL 32246

Green Chem Second Edition, LLC

9995 Gate Parkway N., Suite 400

Jacksonville, FL 32246

Stephen J. Gatto

1 Pinehill Drive

Batterymark Park II, Suite 301

Quincy, MA 02169-5210

sgatto@myriant.com

Fax: 617.657.5210

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