Document:

Deposit Agreement, dated February 2, 2016 among Citigroup Inc., Computershare

 Exhibit 4.1 

DEPOSIT AGREEMENT 
 Dated

 February 2, 2016 

CITIGROUP INC., 
 AS ISSUER,

 COMPUTERSHARE INC. AND COMPUTERSHARE TRUST COMPANY, N.A., 

AS DEPOSITARY, 
 -and- 

COMPUTERSHARE TRUST COMPANY, N.A., 

AS REGISTRAR AND TRANSFER AGENT 

RELATING TO RECEIPTS, DEPOSITARY SHARES AND RELATED 

6.300% NONCUMULATIVE PREFERRED STOCK, SERIES S 
  

 TABLE OF CONTENTS 

Page 
  

							
	ARTICLE 1 DEFINITIONS	  	 	1	  
		
	 ARTICLE 2 FORM OF RECEIPTS, DEPOSIT OF PREFERRED STOCK, EXECUTION AND DELIVERY, TRANSFER, SURRENDER AND REDEMPTION OF
RECEIPTS
	  	 	3	  
			
	 Section 2.01
	 	Form and Transferability of Receipts	  	 	3	  
			
	 Section 2.02
	 	Deposit of Preferred Stock; Execution and Delivery of Receipts in Respect Thereof	  	 	5	  
			
	 Section 2.03
	 	Optional Redemption of Preferred Stock for Cash	  	 	6	  
			
	 Section 2.04
	 	Registration of Transfers of Receipts	  	 	8	  
			
	 Section 2.05
	 	Combinations and Split-ups of Receipts	  	 	8	  
			
	 Section 2.06
	 	Surrender of Receipts and Withdrawal of Preferred Stock	  	 	8	  
			
	 Section 2.07
	 	Limitations on Execution and Delivery, Transfer, Split-up	  	 	9	  
			
	 Section 2.08
	 	Lost Receipts, etc.	  	 	10	  
			
	 Section 2.09
	 	Cancellation and Destruction of Surrendered Receipts	  	 	10	  
			
	 Section 2.10
	 	No Pre-Release	  	 	10	  
		
	ARTICLE 3 CERTAIN OBLIGATIONS OF HOLDERS OF RECEIPTS AND THE COMPANY	  	 	11	  
			
	 Section 3.01
	 	Filing Proofs, Certificates and Other Information	  	 	11	  
			
	 Section 3.02
	 	Payment of Fees and Expenses	  	 	11	  
			
	 Section 3.03
	 	Representations and Warranties as to Preferred Stock	  	 	11	  
			
	 Section 3.04
	 	Representation and Warranty as to Receipts and Depositary Shares	  	 	11	  
			
	 Section 3.05
	 	Taxes.	  	 	11	  
		
	ARTICLE 4 THE PREFERRED STOCK; NOTICES	  	 	12	  
			
	 Section 4.01
	 	Cash Distributions	  	 	12	  
			
	 Section 4.02
	 	Distributions Other Than Cash	  	 	12	  
			
	 Section 4.03
	 	Subscription Rights, Preferences or Privileges	  	 	13	  
			
	 Section 4.04
	 	Notice of Dividends; Fixing of Record Date for Holders of Receipts	  	 	14	  
			
	 Section 4.05
	 	Voting Rights	  	 	14	  
			
	 Section 4.06
	 	Changes Affecting Preferred Stock and Reorganization Events	  	 	15	  
			
	 Section 4.07
	 	Inspection of Reports	  	 	15	  
			
	 Section 4.08
	 	Lists of Receipt Holders	  	 	15	  
			
	 Section 4.09
	 	Withholding	  	 	15	  

  
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 TABLE OF CONTENTS 

(continued) 
 Page 

							
		
	ARTICLE 5 THE DEPOSITARY AND THE COMPANY	  	 	16	  
			
	 Section 5.01
	 	Maintenance of Offices, Agencies and Transfer Books by the Depositary and the Registrar	  	 	16	  
			
	 Section 5.02
	 	Prevention or Delay in Performance by the Depositary, the Depositary’s Agents, the Registrar or the Company	  	 	17	  
			
	 Section 5.03
	 	Obligations of the Depositary, the Depositary’s Agents, the Registrar and the Company	  	 	17	  
			
	 Section 5.04
	 	Resignation and Removal of the Depositary; Appointment of Successor Depositary	  	 	21	  
			
	 Section 5.05
	 	Notices, Reports and Documents	  	 	21	  
			
	 Section 5.06
	 	Indemnification by the Company	  	 	22	  
			
	 Section 5.07
	 	Fees, Charges and Expenses	  	 	22	  
		
	ARTICLE 6 AMENDMENT AND TERMINATION	  	 	22	  
			
	 Section 6.01
	 	Amendment	  	 	22	  
			
	 Section 6.02
	 	Termination	  	 	23	  
		
	ARTICLE 7 MISCELLANEOUS	  	 	23	  
			
	 Section 7.01
	 	Counterparts	  	 	23	  
			
	 Section 7.02
	 	Exclusive Benefits of Parties	  	 	24	  
			
	 Section 7.03
	 	Invalidity of Provisions	  	 	24	  
			
	 Section 7.04
	 	Notices	  	 	24	  
			
	 Section 7.05
	 	Depositary’s Agents	  	 	25	  
			
	 Section 7.06
	 	Holders of Receipts Are Parties	  	 	25	  
			
	 Section 7.07
	 	Governing Law	  	 	25	  
			
	 Section 7.08
	 	Inspection of Deposit Agreement and Certificate of Designations	  	 	25	  
			
	 Section 7.09
	 	Headings	  	 	25	  
			
	 Section 7.10
	 	Confidentiality	  	 	26	  
			
	 Section 7.11
	 	Further Assurances	  	 	26	  
	
	Exhibit A – Form of Face of Receipt; Form of Reverse of Receipt	  
	
	Exhibit B – Certificate of Designations	  

  
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 DEPOSIT AGREEMENT 

DEPOSIT AGREEMENT, dated February 2, 2016 among CITIGROUP INC., a Delaware corporation, COMPUTERSHARE INC., a Delaware
corporation (“Computershare”), and its wholly-owned subsidiary, COMPUTERSHARE TRUST COMPANY, N.A., a federally chartered national association (the “Trust Company”), jointly as Depositary (as hereinafter
defined), the Trust Company, as Registrar (as hereinafter defined) and Transfer Agent (as hereinafter defined), and all holders from time to time of Receipts (as hereinafter defined) issued hereunder. 

WITNESSETH: 
 WHEREAS, it is
desired to provide, as hereinafter set forth in this Deposit Agreement, for the deposit of shares of the Company’s Preferred Stock (as hereinafter defined) with the Depositary for the purposes set forth in this Deposit Agreement and for the
issuance hereunder of Depositary Shares representing a fractional interest in the Preferred Stock deposited and for the execution and delivery of Receipts evidencing Depositary Shares; 

WHEREAS, the Receipts are to be substantially in the form of Exhibit A annexed to this Deposit Agreement, with appropriate insertions,
modifications and omissions, as hereinafter provided in this Deposit Agreement; 
 WHEREAS, the terms and conditions of the Preferred Stock
is substantially set forth in the Certificate of Designations attached hereto as Exhibit B; and 
 NOW, THEREFORE, in consideration
of the premises contained herein, it is agreed by and among the parties hereto as follows: 
 ARTICLE 1 

DEFINITIONS 
 The following
definitions shall apply to the respective terms (in the singular and plural forms of such terms) used in this Deposit Agreement and the Receipts: 

“Certificate of Designations” shall mean the certificate that amends the Restated Certificate of Incorporation of the
Company, adopted by the Board of Directors of the Company or a duly authorized committee thereof, establishing and setting forth the rights, preferences and privileges of the Preferred Stock, as filed with the Secretary of State of the State of
Delaware on February 1, 2016 and attached hereto as Exhibit B, and as such certificate may be amended or restated from time to time. 

“Certificate of Incorporation” shall mean the Restated Certificate of Incorporation of the Company dated May 6,
2011, including any certificates of designation, and as restated or amended from time to time. 
 “Company” shall
mean Citigroup Inc., a Delaware corporation, and its successors. 

  
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 “Deposit Agreement” shall mean this agreement, as the same may be
amended, modified or supplemented from time to time. 
 “Depositary” shall mean Computershare and the Trust Company,
acting jointly, and any successor as Depositary hereunder. The Depositary, along with its affiliates, shall maintain combined capital and surplus of at least $50,000,000, and so shall any successor depositary hereunder. 

“Depositary Office” shall mean the principal office of the Depositary at which at any particular time its business in
respect of matters governed by this Deposit Agreement shall be administered, which at the date of this Deposit Agreement is located at 250 Royall Street, Canton, Massachusetts 02010. 

“Depositary Share” shall mean the security representing a
1/1,000th fractional interest in a share of Preferred Stock deposited with the Depositary hereunder and the same proportionate interest in any and all other property received by the Depositary in
respect of such share of Preferred Stock and held under this Deposit Agreement, all as evidenced by the Receipts issued hereunder. Subject to the terms of this Deposit Agreement, each owner of a Depositary Share is entitled, proportionately, to all
the rights, preferences and privileges of the Preferred Stock represented by such Depositary Share (including the dividend, voting, redemption and liquidation rights contained in the Certificate of Designations). 

“Depositary’s Agent” shall mean an agent appointed by the Depositary as provided, and for the purposes specified,
in Section 7.05. 
 “Dividend Payment Date” shall have the meaning set forth in the Certificate of
Designations. 
 “Dividend Record Date” shall have the meaning set forth in the Certificate of
Designations. 
 “DTC” means The Depository Trust Company. 

“DTC Receipt” has the meaning set forth in Section 2.01. 

“Preferred Stock” shall mean shares of the Company’s 6.300% Noncumulative Preferred Stock, Series S (liquidation
preference $25,000 per share), $1.00 par value per share, heretofore validly issued, fully paid and nonassessable. 

“Receipt” shall mean a receipt issued hereunder to evidence one or more Depositary Shares, whether in definitive or
temporary form, substantially in the form set forth as Exhibit A hereto. 
 “record date” shall mean the date
fixed pursuant to Section 4.04. 
 “Record holder” or “holder” as applied to a
Receipt shall mean the individual, entity or person in whose name a Receipt is registered on the books maintained by the Depositary for such purpose. 

  
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 “redemption date” has the meaning set forth under Section 2.03.

 “redemption price” has the meaning set forth under Section 2.03. 

“Registrar” shall mean the Trust Company or any bank or trust company appointed to register ownership and
transfers of Receipts and the deposited Preferred Stock, as herein provided. 
 “Reorganization Event” shall mean:

 (i) any consolidation or merger of the Company with or into another person (other than a merger or consolidation in which the Company is
the continuing corporation and in which the shares of common stock outstanding immediately prior to the merger or consolidation are not exchanged for cash, securities other property of the Company or another corporation); 

(ii) any sale, transfer, lease or conveyance to another person of all or substantially all the property and assets of the Company; or 

(iii) any statutory exchange of securities of the Company with another Person (other than in connection with a merger or acquisition) or any
binding share exchange which reclassifies or changes its outstanding common stock. 
 “Securities Act” shall mean
the Securities Act of 1933, as amended. 
 “Transfer Agent” shall mean the Trust Company or any bank or trust
company appointed to transfer the Receipts and the deposited Preferred Stock, as herein provided. 
 ARTICLE 2 

FORM OF RECEIPTS, DEPOSIT OF PREFERRED STOCK, EXECUTION AND 

DELIVERY, TRANSFER, SURRENDER AND REDEMPTION OF RECEIPTS 

SECTION 2.01 Form and Transferability of Receipts. 

Definitive Receipts shall be printed and shall be substantially in the form set forth in Exhibit A annexed to this Deposit Agreement, in
each case with appropriate insertions, modifications and omissions, as hereinafter provided. Pending the preparation of definitive Receipts, the Depositary, upon, and pursuant to, the written order of the Company delivered in compliance with
Section 2.02 shall be authorized and instructed to, and shall, execute and deliver temporary Receipts which shall be substantially of the tenor of the definitive Receipts in lieu of which they are issued and in each case with such appropriate
insertions, omissions, substitutions and other variations as the persons executing such Receipts may determine (but which do not affect the rights or duties of the Depositary), as evidenced by their execution of such Receipts. If temporary Receipts
are issued, the Company and the Depositary will cause definitive Receipts to be prepared without unreasonable delay. After the preparation of definitive Receipts, the temporary Receipts shall be exchangeable for definitive Receipts upon surrender of
the temporary Receipts at the Depositary Office without charge to the holder. Upon surrender for cancellation of any one or more temporary Receipts, the Depositary is hereby authorized and instructed to, and shall, execute and deliver in exchange
therefor definitive Receipts representing the same number of Depositary Shares as represented by the surrendered temporary Receipt or 

  
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Receipts. Such exchange shall be made at the Company’s expense and without any charge therefor. Until so exchanged, the temporary Receipts shall in all respects be entitled to the same
benefits under this Deposit Agreement, and with respect to the Preferred Stock deposited, as definitive Receipts. 
 Receipts shall be
executed by the Depositary by the manual or facsimile signature of a duly authorized signatory of the Depositary; provided, that if a Registrar for the Receipts (other than the Depositary) shall have been appointed then such Receipts shall
also be countersigned by manual or facsimile signature of a duly authorized signatory of the Registrar. No Receipt shall be entitled to any benefits under this Deposit Agreement or be valid or obligatory for any purpose unless it shall have been
executed as provided in the preceding sentence. The Depositary shall record on its books each Receipt executed as provided above and delivered as hereinafter provided. Receipts bearing the manual or facsimile signature of a duly authorized signatory
of the Depositary who was at any time a proper signatory of the Depositary shall bind the Depositary, notwithstanding that such signatory ceased to hold such office prior to the execution and delivery of such Receipts by the Registrar or did not
hold such office on the date of issuance of such Receipts. 
 Receipts shall be in denominations of any number of whole Depositary Shares.
All Receipts shall be dated the date of their issuance. 
 Receipts may be endorsed with or have incorporated in the text thereof such
legends or recitals or changes not inconsistent with the provisions of this Deposit Agreement as may be required by the Depositary and approved by the Company, or which the Company has determined are required to comply with any applicable law or
regulation or with the rules and regulations of any securities exchange upon which the Depositary Shares may be listed for trading or to conform with any usage with respect thereto, or to indicate any special limitations or restrictions to which any
particular Receipts are subject, in each case as directed by the Company. 
 Title to any Receipt (and to the Depositary Shares evidenced by
such Receipt) that is properly endorsed, or accompanied by a properly executed instrument of transfer or endorsement shall be transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however,
that until transfer of a Receipt shall be registered on the books of the Depositary as provided in Section 2.04, the Depositary may, notwithstanding any notice to the contrary, treat the record holder thereof at such time as the absolute
owner thereof for the purpose of determining the person entitled to distributions of dividends or other distributions or payments with respect to the Preferred Stock, to exercise any redemption or voting rights or to receive any notice provided for
in this Deposit Agreement and for all other purposes. 
 Notwithstanding the foregoing, upon request by the Company, the Depositary and the
Company will make application to DTC for acceptance of all or a portion of the Receipts for its book-entry settlement system. In connection with any such request, the Company hereby appoints the Depositary acting through any authorized officer
thereof as its attorney-in-fact, with full power to delegate, for purposes of executing any agreements, certifications or other instruments or documents necessary or desirable in order to effect the acceptance of such Receipts for DTC eligibility.
So long as the Receipts are eligible for book-entry settlement with 

  
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DTC, unless otherwise required by law, all Depositary Shares to be traded on the New York Stock Exchange with book-entry settlement through DTC shall be represented by a single receipt (the
“DTC Receipt”), which shall be deposited with DTC (or its custodian) evidencing all such Depositary Shares and registered in the name of the nominee of DTC (initially expected to be Cede & Co.). The Depositary or such other
entity as is agreed to by DTC may hold the DTC Receipt as custodian for DTC. Ownership of beneficial interests in the DTC Receipt shall be shown on, and the transfer of such ownership shall be effected through, records maintained by (i) DTC or
its nominee for such DTC Receipt, or (ii) institutions that have accounts with DTC. 
 If issued, the DTC Receipt shall be exchangeable
for definitive Receipts only if (i) DTC notifies the Company at any time that it is unwilling or unable to continue to make its book-entry settlement system available for the Receipts and a successor to DTC is not appointed by the Company
within 90 days of the date the Company is so informed in writing, (ii) DTC notifies the Company at any time that it has ceased to be a clearing agency registered under applicable law and a successor to DTC is not appointed by the Company within
90 days of the date the Company is so informed in writing or (iii) the Company executes and delivers to DTC a notice to the effect that such DTC Receipt shall be so exchangeable. If the beneficial owners of interests in Depositary Shares are
entitled to exchange such interests for definitive Receipts as the result of an event described in clause (i), (ii) or (iii) of the preceding sentence, then without unnecessary delay but in any event not later than the earliest date on which such
beneficial interests may be so exchanged, the Depositary is hereby directed to and shall provide written instructions to DTC to deliver to the Depositary for cancellation the DTC Receipt, and the Company shall instruct the Depositary in writing to
execute and deliver to the beneficial owners of the Depositary Shares previously evidenced by the DTC Receipt definitive Receipts in physical form evidencing such Depositary Shares. The DTC Receipt shall be in such form and shall bear such legend or
legends as may be appropriate or required by DTC in order for it to accept the Depositary Shares for its book-entry settlement system. Notwithstanding any other provision herein to the contrary, if the Receipts are at any time eligible for
book-entry settlement through DTC, delivery of shares of Preferred Stock and other property in connection with the withdrawal or redemption of Depositary Shares will be made through DTC and in accordance with its procedures, unless the holder of the
relevant Receipt otherwise requests and such request is reasonably acceptable to the Depositary and the Company. 
 SECTION 2.02
Deposit of Preferred Stock; Execution and Delivery of Receipts in Respect Thereof. 
 Concurrently with the execution of this Deposit
Agreement, the Company is delivering to the Depositary a certificate or certificates, registered in the name of the Depositary and evidencing 41,400 shares of Preferred Stock, properly endorsed or accompanied, if required by the Depositary, by a
duly executed instrument of transfer or endorsement, in form satisfactory to the Depositary, together with (i) all such certifications as may be required by the Depositary in accordance with the provisions of this Deposit Agreement and
(ii) a written order of the Company directing the Depositary to execute and deliver to, or upon the written order of, the person or persons stated in such order a Receipt or Receipts for the Depositary Shares representing such deposited
Preferred Stock registered in such names specified in such written order. The Depositary acknowledges receipt of the aforementioned 41,400 shares of Preferred Stock and related documentation and agrees to hold such deposited Preferred Stock in an
account to be established by the Depositary 

  
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at the Depositary Office or at such other office as the Depositary shall determine. The Company hereby appoints the Trust Company as the Registrar and Transfer Agent for the Preferred Stock
deposited hereunder and the Trust Company hereby accepts such appointment and, as such, will reflect changes in the number of shares (including any fractional shares) of deposited Preferred Stock held by it by notation, book-entry or other
appropriate method. 
 If required by the Depositary, Preferred Stock presented for deposit by the Company at any time, whether or not the
register of stockholders of the Company is closed, shall also be accompanied by an agreement or assignment, or other instrument satisfactory to the Depositary, that will provide for the prompt transfer to the Depositary or its nominee of any
dividend or right to subscribe for additional Preferred Stock or to receive other property that any person in whose name the Preferred Stock is or has been registered may thereafter receive upon or in respect of such deposited Preferred Stock, or in
lieu thereof such agreement of indemnity or other agreement as shall be satisfactory to the Depositary. 
 Upon receipt by the Depositary of
a certificate or certificates for Preferred Stock deposited hereunder, together with the other documents specified above, and upon registering such Preferred Stock in the name of the Depositary, the Depositary, subject to the terms and conditions of
this Deposit Agreement, shall execute and deliver to, or upon the order of, the person or persons named in the written order delivered to the Depositary referred to in the first paragraph of this Section 2.02, a Receipt or Receipts for the
number of whole Depositary Shares representing the Preferred Stock so deposited and registered in such name or names as may be requested by such person or persons. The Depositary shall execute and deliver such Receipt or Receipts at the Depositary
Office, except that, at the request, risk and expense of any person requesting such delivery, such delivery may be made at such other place as may be designated by such person. Other than in the case of splits, combinations or other
reclassifications affecting the Preferred Stock, or in the case of dividends or other distributions of Preferred Stock, if any, there shall be deposited hereunder not more than the number of shares constituting the Preferred Stock as set forth in
the Certificate of Designations, as such may be amended. To the extent that the Company issues shares of Preferred Stock in excess of the amount set forth in the Certificate of Designations as of the date hereof (which shares have been validly
authorized by the Company), the Company shall notify the Depositary of such issuance in writing. 
 The Depositary shall be permitted to
rely on applicable opinions of counsel delivered to the underwriters pursuant to each of Sections 8(b), (c) and (d) of the underwriting agreement dated January 26, 2016 among the Company and the underwriters named therein relating to
the sale of the Depositary Shares to the public. 
 The Company shall deliver to the Depositary from time to time such quantities of
Receipts as the Depositary may request to enable the Depositary to perform its obligations under this Deposit Agreement. 

SECTION 2.03 Optional Redemption of Preferred Stock for Cash. 

Whenever the Company shall elect to redeem shares of deposited Preferred Stock for cash in accordance with the provisions of the Certificate of
Designations, it shall (unless otherwise agreed in writing with the Depositary) give the Depositary not less than 30 nor more 

  
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than 60 days’ prior written notice of the date fixed for redemption of such Preferred Stock (the “redemption date”) and of the number of such shares of Preferred Stock held
by the Depositary to be redeemed and the applicable redemption price (the “redemption price”), as set forth in the Certificate of Designations. The Depositary shall mail, first-class postage prepaid, notice of the redemption of
Preferred Stock and the proposed simultaneous redemption of the Depositary Shares representing the Preferred Stock to be redeemed, not less than 30 and not more than 60 days prior to the redemption date, to the holders of record on the record date
fixed for such redemption pursuant to Section 4.04 of the Receipts evidencing the Depositary Shares to be so redeemed, at the addresses of such holders as the same appear on the records of the Depositary; but neither the failure to mail any
such notice to one or more such holder nor any defect in any such notice shall affect the sufficiency of the proceedings for redemption except as to the holder to whom notice was not given or defective. 

The Company shall prepare and provide the Depositary with such notice, and each such notice shall state: (i) the redemption date;
(ii) the redemption price; (iii) the number of shares of deposited Preferred Stock and Depositary Shares to be redeemed; (iv) if fewer than all Depositary Shares held by any holder are to be redeemed, the number of such Depositary
Shares held by such holder to be so redeemed; (v) the place or places where the Preferred Stock and the Receipts evidencing Depositary Shares to be redeemed are to be surrendered for payment of the redemption price; and (vi) that on the
redemption date dividends in respect of the Preferred Stock represented by the Depositary Shares to be redeemed will cease to accrue. 
 In
the event that notice of redemption has been made as described in the immediately preceding paragraphs and the Company shall then have paid in full to the Depositary the redemption price (determined pursuant to the Certificate of Designations) of
the Preferred Stock deposited with the Depositary to be redeemed, the Depositary shall redeem the number of Depositary Shares representing such Preferred Stock so called for redemption by the Company and on the redemption date (unless the Company
shall have failed to pay for the shares of Preferred Stock to be redeemed by it as set forth in the Company’s notice provided for in the preceding paragraph), all dividends in respect of the shares of Preferred Stock called for redemption shall
cease to accrue, the Depositary Shares called for redemption shall be deemed no longer to be outstanding and all rights of the holders of Receipts evidencing such Depositary Shares (except the right to receive the redemption price) shall, to the
extent of such Depositary Shares, cease and terminate. Upon surrender in accordance with said notice of the Receipts evidencing such Depositary Shares (properly endorsed or assigned for transfer, if the Depositary shall so require), such Depositary
Shares shall be redeemed at a cash redemption price of $25 per Depositary Share plus any accrued dividends thereon from the last Dividend Payment Date to, but excluding, the redemption date. The foregoing shall be further subject to the terms and
conditions of the Certificate of Designations. In the event of any conflict between the provisions of the Deposit Agreement and the provisions of the Certificate of Designations, the provisions of the Certificate of Designations will govern and the
Company will instruct the Depositary, as applicable, in writing accordingly of such governing terms; provided, however, that under no circumstances will the Certificate of Designations be deemed to change or modify any of the rights,
duties or immunities of the Depositary contained herein. 
 If fewer than all of the Depositary Shares evidenced by a Receipt are called for
redemption, the Depositary will deliver to the holder of such Receipt upon its surrender to the Depositary, together with payment of the redemption price for and all other amounts payable in respect of the Depositary Shares called for redemption, a
new Receipt evidencing the Depositary Shares evidenced by such prior Receipt and not called for redemption. 

  
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 If less than all of the Preferred Stock is redeemed pursuant to the Company’s exercise of
its optional redemption right, the Depositary will select the Depositary Shares to be redeemed pursuant to this Section 2.03 on a pro rata basis, by lot or in such other manner as the Depositary may determine to be fair and equitable. 

The Company acknowledges that the bank accounts maintained by Computershare in connection with the services provided under this Agreement will
be in Computershare’s name and that Computershare may receive investment earnings in connection with the investment at Computershare’s risk and for its benefit of funds held in those accounts from time to time. Neither the Company nor the
record holders will receive interest on any deposits or funds held by Computershare hereunder. 
 SECTION 2.04 Registration
of Transfers of Receipts. 
 The Company hereby appoints the Trust Company as the Registrar and Transfer Agent for the Receipts and the
Trust Company hereby accepts such appointment and, as such, shall register on its books from time to time transfers of Receipts upon any surrender thereof by the holder in person or by a duly authorized attorney, agent or representative properly
endorsed or accompanied by a properly executed instrument of transfer or endorsement and appropriate evidence of authority, which shall include a signature guarantee from an eligible guarantor institution participating in a signature guarantee
program approved by the Securities Transfer Association, and any other reasonable evidence of authority that may be required by the Trust Company, together with evidence of the payment by the applicable party of any transfer taxes as may be required
by law. Upon such surrender, the Trust Company shall execute a new Receipt or Receipts and deliver the same to or upon the order of the person entitled thereto evidencing the same aggregate number of Depositary Shares evidenced by the Receipt or
Receipts surrendered. 
 SECTION 2.05 Combinations and Split-ups of Receipts. 

Upon surrender of a Receipt or Receipts at the Depositary Office or such other office as the Depositary may designate for the purpose of
effecting a split-up or combination of Receipts, subject to the terms and conditions of this Deposit Agreement, the Depositary shall execute and deliver a new Receipt or Receipts in the authorized denominations requested evidencing the same
aggregate number of Depositary Shares evidenced by the Receipt or Receipts surrendered. 
 SECTION 2.06 Surrender of Receipts
and Withdrawal of Preferred Stock. 
 Any holder of a Receipt or Receipts may withdraw any number of whole shares of deposited Preferred
Stock represented by the Depositary Shares evidenced by such Receipt or Receipts and all money and other property, if any, represented by such Depositary Shares by surrendering such Receipt or Receipts to the Depositary or at such other office as
the Depositary may designate for such withdrawals; provided, that a holder of a Receipt or Receipts may not withdraw such Preferred Stock (or money and other property, if any, represented thereby) which

  
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has previously been called for redemption. Upon such surrender, upon payment of the fee of the Depositary for the surrender of Receipts to the extent provided in Section 5.07 and payment
of all taxes and governmental charges in connection with such surrender and withdrawal of Preferred Stock, and subject to the terms and conditions of this Deposit Agreement, without unreasonable delay, the Depositary shall deliver to such holder, or
to the person or persons designated by such holder as hereinafter provided, the number of whole shares of such Preferred Stock and all such money and other property, if any, represented by the Depositary Shares evidenced by the Receipt or Receipts
so surrendered for withdrawal, but holders of such whole shares of Preferred Stock will not thereafter be entitled to deposit such Preferred Stock hereunder or to receive Depositary Shares therefor. If the Receipt or Receipts delivered by the holder
to the Depositary in connection with such withdrawal shall evidence a number of Depositary Shares in excess of the number of Depositary Shares representing the number of whole shares of deposited Preferred Stock to be withdrawn, the Depositary shall
at the same time, in addition to such number of whole shares of Preferred Stock and such money and other property, if any, to be withdrawn, deliver to such holder, or upon such holder’s order (subject to Section 2.04), a new Receipt or
Receipts evidencing such excess number of Depositary Shares. Delivery of such Preferred Stock and such money and other property being withdrawn may be made by the delivery of such certificates, documents of title and other instruments as the
Depositary may deem appropriate, which, if required by the Depositary, shall be properly endorsed or accompanied by proper instruments of transfer. 

If the deposited Preferred Stock and the money and other property being withdrawn are to be delivered to a person or persons other than the
record holder of the Receipt or Receipts being surrendered for withdrawal of Preferred Stock, such holder shall execute and deliver to the Depositary a written order so directing the Depositary and the Depositary may require that the Receipt or
Receipts surrendered by such holder for withdrawal of such shares of Preferred Stock be properly endorsed in blank or accompanied by a properly executed instrument of transfer or endorsement in blank. 

The Depositary shall deliver the deposited Preferred Stock and the money and other property, if any, represented by the Depositary Shares
evidenced by Receipts surrendered for withdrawal at the Depositary Office, except that, at the request, risk and expense of the holder surrendering such Receipt or Receipts and for the account of the holder thereof, such delivery may be made at such
other place as may be designated by such holder. 
 SECTION 2.07 Limitations on Execution and Delivery, Transfer, Split-up.

 As a condition precedent to the execution and delivery, transfer, split-up, combination, surrender or exchange of any Receipt, the
Depositary, any of the Depositary’s Agents or the Company may require any or all of the following: (i) payment to it of a sum sufficient for the payment (or, in the event that the Company shall have made such payment, the reimbursement to
it) of any tax or other governmental charge and stock transfer or registration fee with respect thereto (including any such tax or charge with respect to the Preferred Stock being deposited or withdrawn); (ii) the production of proof
satisfactory to it as to the identity and genuineness of any signature (or the authority of any signature) including, as noted in Section 2.04 above, a signature guarantee from an eligible guarantor institution participating in a signature
guarantee program approved by the Securities Transfer Association, and any other reasonable evidence of 

  
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authority that may be required by the Depositary; and (iii) compliance with such regulations, if any, as the Depositary or the Company may establish consistent with the provisions of this
Deposit Agreement as may be required by any securities exchange on which the deposited Preferred Stock, the Depositary Shares or the Receipts may be included for quotation or listed. 

The deposit of Preferred Stock may be refused, the delivery of Receipts against Preferred Stock may be suspended, the transfer of Receipts may
be refused, and the transfer, split-up, combination, surrender, exchange or redemption of outstanding Receipts may be suspended (i) during any period when the register of stockholders of the Company is closed or (ii) if any such action is
deemed reasonably necessary or advisable by the Depositary, any of the Depositary’s Agents or the Company at any time or from time to time because of any requirement of law or of any government or governmental body or commission, or under any
other provision of this Deposit Agreement. 
 SECTION 2.08 Lost Receipts, etc. 

In case any Receipt shall be mutilated and surrendered to the Depositary or destroyed or lost or stolen, the Depositary shall execute and
deliver a Receipt of like form and tenor in exchange and substitution for such mutilated Receipt or in lieu of and in substitution for such destroyed, lost or stolen Receipt; provided, that the holder thereof shall have (i) filed with
the Depositary (a) a request for such execution and delivery before the Depositary has notice that the Receipt has been acquired by a protected purchaser and (b) an indemnity bond, (ii) satisfied any other reasonable requirements
imposed by the Depositary and (iii) complied with such other reasonable regulations and paid such other reasonable charges as the Depositary may prescribe and as required by Section 8-405 of the Uniform Commercial Code as in effect in the
State of New York. 
 SECTION 2.09 Cancellation and Destruction of Surrendered Receipts. 

All Receipts surrendered to the Depositary or any Depositary’s Agent shall be cancelled by the Depositary. Except as prohibited by
applicable law or regulation, the Depositary is authorized, but not required, to destroy such Receipts so cancelled. 
 SECTION 2.10
No Pre-Release. 
 The Depositary shall not deliver any deposited Preferred Stock evidenced by Receipts prior to the receipt and
cancellation of such Receipts or other similar method used with respect to Receipts held by DTC. The Depositary shall not issue any Receipts prior to the receipt by the Depositary of the corresponding Preferred Stock evidenced by such Receipts. At
no time will any Receipts be outstanding if such Receipts do not represent Preferred Stock deposited with the Depositary. 

  
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 ARTICLE 3 

CERTAIN OBLIGATIONS OF HOLDERS OF RECEIPTS AND THE COMPANY 

SECTION 3.01 Filing Proofs, Certificates and Other Information. 

Any person presenting Preferred Stock for deposit or any holder of a Receipt may be required from time to time to file with the Depositary such
proof of residence, guarantee of signature or other information and to execute such certificates as the Depositary may reasonably deem necessary or proper or the Company may reasonably require by written request to the Depositary. The Depositary or
the Company may withhold or delay the delivery of any Receipt, the transfer, redemption or exchange of any Receipt, the withdrawal of the deposited Preferred Stock represented by the Depositary Shares evidenced by any Receipt, the distribution of
any dividend or other distribution or the sale of any rights or of the proceeds thereof, until such proof or other information is filed, or such certificates are executed. 

SECTION 3.02 Payment of Fees and Expenses. 

Holders of Receipts shall be obligated to make payments to the Depositary of certain fees and expenses and taxes or other governmental charges
to the extent provided in Section 5.07, or provide evidence satisfactory to the Depositary that such fees and expenses and taxes or other governmental charges have been paid. Until such payment is made, transfer of any Receipt or any
withdrawal of the Preferred Stock or money or other property, if any, represented by the Depositary Shares evidenced by such Receipt may be refused, any dividend or other distribution may be withheld, and any part or all of the Preferred Stock or
other property represented by the Depositary Shares evidenced by such Receipt may be sold for the account of the holder thereof (after attempting by reasonable means to notify such holder a reasonable number of days prior to such sale). Any dividend
or other distribution so withheld and the proceeds of any such sale may be applied to any payment of such fees or expenses, the holder of such Receipt remaining liable for any deficiency. 

SECTION 3.03 Representations and Warranties as to Preferred Stock. 

In the case of the initial deposit of the Preferred Stock hereunder, the Company represents and warrants that such Preferred Stock and each
certificate therefor are validly issued, fully paid and nonassessable. Such representations and warranties shall survive the deposit of the Preferred Stock and the issuance of Receipts. 

SECTION 3.04 Representation and Warranty as to Receipts and Depositary Shares. 

The Company hereby represents and warrants that the Receipts, when issued, will evidence legal and valid interests in the Depositary Shares and
each Depositary Share will represent a legal and valid 1/1,000th fractional interest in a share of deposited Preferred Stock represented by such Depositary Share. Such representation and warranty
shall survive the deposit of the Preferred Stock and the issuance of Receipts evidencing the Depositary Shares. 
 SECTION 3.05
Taxes. 
 The Company will pay any and all stock transfer, documentary, stamp and similar taxes that may be payable in respect of any
issuance or delivery of Depositary Shares or shares of Preferred Stock or other securities issued on account of Depositary Shares or certificates representing such shares or securities. The Company will not, however, be required to pay any such tax
that may be payable in respect of any transfer involved in the issuance or delivery of 

  
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shares of Preferred Stock, Depositary Shares or other securities in a name other than that in which the Depositary Shares with respect to which such shares or other securities are issued or
delivered were registered, or in respect of any payment to any person other than a payment to the registered holder thereof, and will not be required to make any such issuance, delivery or payment unless and until the person otherwise entitled to
such issuance, delivery or payment has paid to the Company the amount of any such tax or has established, to the satisfaction of the Company, that such tax has been paid or is not payable. 

ARTICLE 4 
 THE PREFERRED
STOCK; NOTICES 
 SECTION 4.01 Cash Distributions. 

Whenever Computershare shall receive any cash dividend or other cash distribution on the deposited Preferred Stock, including any cash
received upon redemption of any shares of Preferred Stock pursuant to Section 2.03, Computershare shall, subject to Section 3.02, distribute to record holders of Receipts on the record date fixed pursuant to Section 4.04 such
amounts of such sum as are, as nearly as practicable, in proportion to the respective numbers of Depositary Shares evidenced by the Receipts held by such holders; provided, however, that in case the Company or Computershare shall be
required by law to and shall withhold from any cash dividend or other cash distribution in respect of the Preferred Stock represented by the Receipts held by any holder an amount on account of taxes or as otherwise required by law, regulation or
court process, the amount made available for distribution or distributed in respect of Depositary Shares represented by such Receipts subject to such withholding shall be reduced accordingly. Computershare, however, shall distribute or make
available for distribution, as the case may be, only such amount as can be distributed without attributing to any holder of Receipts a fraction of one cent. Any such fractional amounts shall be rounded down to the nearest whole cent and so
distributed to registered holders entitled thereto and any balance not so distributable shall be held by Computershare (without liability for interest thereon) and shall be added to and be treated as part of the next succeeding distribution to
record holders of such Receipts. Each holder of a Receipt shall provide the Depositary with a properly completed Form W-8 (i.e., Form W-8BEN, Form W-8EXP, Form W-8IMY, Form W8ECI or another applicable Form W-8) or Form W-9 (which form shall set
forth such holder’s certified taxpayer identification number if requested on such form), as may be applicable. Each holder of a Receipt acknowledges that in the event of non-compliance with the preceding sentence, the Internal Revenue Code of
1986, as amended, may require withholding by Computershare of a portion of any of the distribution to be made hereunder. 

SECTION 4.02 Distributions Other Than Cash. 

Whenever the Depositary shall receive any distribution other than cash on the deposited Preferred Stock, the Depositary shall, subject to
Section 3.02, distribute to record holders of Receipts on the record date fixed pursuant to Section 4.04 such amounts of the securities or property received by it as are, as nearly as practicable, in proportion to the respective
numbers of Depositary Shares evidenced by the Receipts held by such holders, in any manner that the Depositary and the Company may deem equitable and practicable for accomplishing such distribution. The Depositary shall not make any distribution of
securities to the holders of Receipts unless the Company shall have provided to the Depositary an opinion of counsel stating that such securities have been registered under the Securities Act or do not need to be registered. 

  
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 SECTION 4.03 Subscription Rights, Preferences or Privileges. 

If the Company shall at any time offer or cause to be offered to the persons in whose names deposited Preferred Stock is registered on the
books of the Company any rights, preferences or privileges to subscribe for or to purchase any securities or any rights, preferences or privileges of any other nature, such rights, preferences or privileges shall in each such instance be made
available by the Depositary to the record holders of Receipts in such manner as the Company shall instruct (including by the issue to such record holders of warrants representing such rights, preferences or privileges); provided,
however, that (i) if at the time of issue or offer of any such rights, preferences or privileges the Company determines upon advice of its legal counsel that it is not lawful or feasible to make such rights, preferences or privileges
available to the holders of Receipts (by the issue of warrants or otherwise) or (ii) if and to the extent instructed by holders of Receipts who do not desire to exercise such rights, preferences or privileges, the Depositary shall then, if so
directed by the Company and provided with an opinion of counsel that if Depositary undertakes such actions it will not be deemed an “issuer” under the Securities Act or an “investment company” under the Investment Company Act of
1940, as amended, and if applicable laws or the terms of such rights, preferences or privileges so permit, sell such rights, preferences or privileges of such holders at public or private sale, at such place or places and upon such terms as it may
deem proper. The net proceeds of any such sale shall, subject to Sections 3.01 and 3.02, be distributed by the Depositary to the record holders of Receipts entitled thereto as provided by Section 4.01 in the case of a
distribution received in cash. The Depositary shall not make any distribution of such rights, preferences or privileges, unless the Company shall have provided to the Depositary an opinion of counsel stating that such rights, preferences or
privileges have been registered under the Securities Act or do not need to be registered. 
 If registration under the Securities Act of the
securities to which any rights, preferences or privileges relate is required in order for holders of Receipts to be offered or sold the securities to which such rights, preferences or privileges relate, the Company agrees that it will promptly
notify the Depositary of such requirement, that it will promptly file a registration statement pursuant to the Securities Act with respect to such rights, preferences or privileges and securities and use its commercially reasonable efforts and take
all steps available to it to cause such registration statement to become effective sufficiently in advance of the expiration of such rights, preferences or privileges to enable such holders to exercise such rights, preferences or privileges. In no
event shall the Depositary make available to the holders of Receipts any right, preference or privilege to subscribe for or to purchase any securities unless and until such a registration statement shall have become effective or unless the offering
and sale of such securities to such holders are exempt from registration under the provisions of the Securities Act and the Company shall have provided to the Depositary an opinion of counsel to such effect. 

If any other action under the law of any jurisdiction or any governmental or administrative authorization, consent or permit is required in
order for such rights, preferences or privileges to be made available to holders of Receipts, the Company agrees that it will promptly notify the Depositary of such requirement and to use its commercially reasonable efforts to take such action or
obtain such authorization, consent or permit sufficiently in advance of the expiration of such rights, preferences or privileges to enable such holders to exercise such rights, preferences or privileges. 

  
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 The Depositary will not be deemed to have any knowledge of any item for which it is supposed to
receive notification under any section of this Deposit Agreement unless and until it has received such notification. 

SECTION 4.04 Notice of Dividends; Fixing of Record Date for Holders of Receipts. 

Whenever any cash dividend or other cash distribution shall become payable, any distribution other than cash shall be made, or any rights,
preferences or privileges shall at any time be offered, with respect to the deposited Preferred Stock, or whenever the Depositary shall receive notice of (i) any meeting at which holders of such Preferred Stock are entitled to vote or of which
holders of such Preferred Stock are entitled to notice or (ii) any election on the part of the Company to redeem any shares of such Preferred Stock, the Depositary shall in each such instance fix a record date (which shall be the same date as
the record date fixed by the Company with respect to the Preferred Stock) (the “record date”) for the determination of the holders of Receipts who shall be entitled to receive such dividend, distribution, rights, preferences or
privileges or the net proceeds of the sale thereof, to give instructions for the exercise of voting rights at any such meeting or to receive notice of such meeting or whose Depositary Shares are to be so redeemed. 

SECTION 4.05 Voting Rights. 

Upon receipt of notice of any meeting at which the holders of deposited Preferred Stock are entitled to vote, the Depositary shall, as soon as
practicable thereafter, mail to the record holders of Receipts a notice, which shall be provided by the Company and which shall contain (i) such information as is contained in such notice of meeting, (ii) a statement that the holders of
Receipts at the close of business on a specified record date fixed pursuant to Section 4.04 will be entitled, subject to any applicable provision of law, to instruct the Depositary as to the exercise of the voting rights pertaining to the
amount of Preferred Stock represented by their respective Depositary Shares and (iii) a brief statement as to the manner in which such instructions may be given. Upon the written request of a holder of a Receipt on such record date, the
Depositary shall, insofar as practicable, vote or cause to be voted the amount of Preferred Stock represented by the Depositary Shares evidenced by such Receipt in accordance with the instructions set forth in such request. To the extent any such
instructions request the voting of a fractional interest of a share of deposited Preferred Stock, the Depositary shall aggregate such interest with all other fractional interests resulting from requests with the same voting instructions and shall
vote the number of whole votes resulting from such aggregation in accordance with the instructions received in such requests. Each share of Preferred Stock is entitled to one vote and, accordingly, each Depositary Share is entitled to 1/1,000th of a vote. The Company hereby agrees to take all reasonable action that may be deemed necessary by the Depositary in order to enable the Depositary to vote such Preferred Stock or cause such
Preferred Stock to be voted. In the absence of specific instructions from the holder of a Receipt, the Depositary will vote all Depositary Shares held by it in proportion with any instructions received. The Depositary shall not exercise any
discretion in voting any Preferred Stock represented by the Depositary Shares evidenced by such Receipt. 

  
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 SECTION 4.06 Changes Affecting Preferred Stock and Reorganization Events. 

Upon any change in liquidation preference, par or stated value, split-up, combination or any other reclassification of the Preferred Stock, any
Reorganization Event or any exchange of the Preferred Stock for cash, securities or other property, the Depositary shall, upon the written instructions of the Company setting forth any of the following adjustments, (i) reflect such adjustments
in the Depositary’s books and records in (a) the fraction of an interest in one share of Preferred Stock represented by one Depositary Share and (b) the ratio of the redemption price per Depositary Share to the redemption price of a
share of Preferred Stock, as may be required by or as is consistent with the provisions of the Certificate of Designations to fully reflect the effects of such change in liquidation preference, par or stated value, split-up, combination or other
reclassification of Preferred Stock, of such Reorganization Event or of such exchange and (ii) treat any shares of stock or other securities or property (including cash) that shall be received by the Depositary in exchange for or in respect of
the Preferred Stock as new deposited property under this Deposit Agreement, and Receipts then outstanding shall thenceforth represent the proportionate interests of holders thereof in the new deposited property so received in exchange for or in
respect of such Preferred Stock. In any such case the Depositary may, upon the receipt of written request of the Company, execute and deliver additional Receipts, or may call for the surrender of all outstanding Receipts to be exchanged for new
Receipts specifically describing such new deposited property. 
 SECTION 4.07 Inspection of Reports. 

The Depositary shall make available for inspection by holders of Receipts at the Depositary Office, and at such other places as it may from
time to time deem advisable during normal business hours, any reports and communications received from the Company that are both received by the Depositary as the holder of deposited Preferred Stock and made generally available to the holders of the
Preferred Stock. In addition, the Depositary shall transmit, upon written request by the Company, certain notices and reports to the holders of Receipts as provided in Section 5.05. 

SECTION 4.08 Lists of Receipt Holders. 

Promptly upon request from time to time by the Company, the Registrar shall furnish to the Company a list, as of a recent date specified by the
Company, of the names, addresses and holdings of Depositary Shares of all persons in whose names Receipts are registered on the books of the Registrar. 

SECTION 4.09 Withholding. 

Notwithstanding any other provision of this Deposit Agreement, in the event that the Depositary determines that any distribution in property is
subject to any tax or other governmental charge which the Depositary is obligated by law to withhold, the Depositary may dispose of, by public or private sale, all or a portion of such property in such amounts and in such manner as the Depositary
deems necessary and practicable to pay such taxes, and the 

  
 15 

 
Depositary shall distribute the net proceeds of any such sale or the balance of any such property after deduction of such taxes to the holders of Receipts entitled thereto in proportion to the
number of Depositary Shares held by them, respectively; provided, however, that in the event the Depositary determines that such distribution of property is subject to withholding tax only with respect to some but not all holders of
Receipts, the Depositary will use its best efforts (i) to sell only that portion of such property distributable to such holders that is required to generate sufficient proceeds to pay such withholding tax and (ii) to effect any such sale
in such a manner so as to avoid affecting the rights of any other holders of Receipts to receive such distribution in property. 
 ARTICLE
5 
 THE DEPOSITARY AND THE COMPANY 

SECTION 5.01 Maintenance of Offices, Agencies and Transfer Books by the Depositary and the Registrar. 

The Depositary shall maintain at the Depositary Office facilities for the execution and delivery, transfer, surrender and exchange, split-up,
combination and redemption of Receipts and deposit and withdrawal of Preferred Stock and at the offices of the Depositary’s Agents, if any, facilities for the delivery, transfer, surrender and exchange, split-up, combination and redemption of
Receipts and deposit and withdrawal of Preferred Stock, all in accordance with the provisions of this Deposit Agreement. 
 The Registrar
shall keep books at the Depositary Office for the registration and transfer of Receipts, which books at all reasonable times shall be open for inspection by the record holders of Receipts as provided by applicable law. The Company may cause the
Registrar to close such books, at any time or from time to time, when deemed expedient by it in connection with the performance of its duties hereunder. 

If the Receipts or the Depositary Shares evidenced thereby or the Preferred Stock represented by such Depositary Shares shall be listed on the
New York Stock Exchange or any other stock exchange, the Depositary may, with the written approval of the Company, appoint a registrar (acceptable to the Company) for registration of such Receipts or Depositary Shares in accordance with the
requirements of such exchange. Such registrar (which may be the Registrar if so permitted by the requirements of such exchange) may be removed and a substitute registrar appointed by the Registrar upon the request or with the written approval of the
Company. If the Receipts, such Depositary Shares or such Preferred Stock are listed on one or more other stock exchanges, the Registrar will, at the request and expense of the Company, arrange such facilities for the delivery, transfer, surrender,
redemption and exchange of such Receipts, such Depositary Shares or such Preferred Stock as may be required by law or applicable stock exchange regulations. 

  
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 SECTION 5.02 Prevention or Delay in Performance by the Depositary, the
Depositary’s Agents, the Registrar or the Company. 
 None of the Depositary, any Depositary’s Agent, any Registrar, any
Transfer Agent, or the Company shall incur any liability to any holder of any Receipt, if by reason of any provision of any present or future law or regulation thereunder of the United States of America or of any other governmental authority or, in
the case of the Depositary, the Depositary’s Agent or the Registrar or Transfer Agent, by reason of any provision, present or future, of the Certificate of Incorporation or, in the case of the Company, the Depositary, the Depositary’s
Agent, the Transfer Agent or the Registrar, by reason of any act of God or war or other circumstance beyond the control of the relevant party, the Depositary, any Depositary’s Agent, the Transfer Agent, the Registrar or the Company shall be
prevented or forbidden from doing or performing any act or thing that the terms of this Deposit Agreement provide shall be done or performed; nor shall the Depositary, any Depositary’s Agent, the Transfer Agent, any Registrar or the Company
incur any liability to any holder of a Receipt by reason of any nonperformance or delay, caused as aforesaid, in the performance of any act or thing that the terms of this Deposit Agreement provide shall or may be done or performed, or by reason of
any exercise of, or failure to exercise, any discretion provided for in this Deposit Agreement. 
 SECTION 5.03 Obligations
of the Depositary, the Depositary’s Agents, the Registrar and the Company. 
 The Company does not assume any obligation and shall
not be subject to any liability under this Deposit Agreement or any Receipt to holders of Receipts other than from acts or omissions arising out of conduct constituting bad faith, negligence (in the case of any action or inaction with respect to the
voting of the deposited Preferred Stock), gross negligence or willful misconduct in the performance of such duties as are specifically set forth in this Deposit Agreement (which bad faith, negligence, gross negligence or willful misconduct must be
determined by a final, non-appealable order, judgment, decree or ruling of a court of competent jurisdiction). Neither the Depositary nor any Depositary’s Agent nor any Transfer Agent or Registrar assumes any obligation and shall not be subject
to any liability under this Deposit Agreement to holders of Receipts, the Company or any other person or entity other than for its bad faith, gross negligence or willful misconduct (which bad faith, gross negligence or willful misconduct must be
determined by a final, non-appealable order, judgment, decree or ruling of a court of competent jurisdiction). Notwithstanding anything to the contrary contained herein, neither the Depositary, nor any Depositary’s Agent nor any Transfer Agent
or Registrar shall be liable for any special, indirect, incidental, consequential, punitive or exemplary damages, including but not limited to, lost profits, even if such person or entity alleged to be liable has knowledge of the possibility of such
damages. Notwithstanding anything contained herein to the contrary, the Depositary’s aggregate liability during any term of this Agreement with respect to, arising from, or arising in connection with this Agreement, or from all services
provided or omitted to be provided under this Agreement, whether in contract, or in tort, or otherwise, is limited to, and shall not exceed, the amounts paid hereunder by the Company to Depositary as fees and charges, but not including reimbursable
expenses. 
 None of the Depositary, any Depositary’s Agent, any Registrar or Transfer Agent or the Company shall be under any
obligation to appear in, prosecute or defend any action, suit or other proceeding with respect to the deposited Preferred Stock, Depositary Shares or Receipts that in its opinion may involve it in expense or liability, unless indemnity satisfactory
to it against all expense and liability be furnished as often as may be required. 

  
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 None of the Depositary, any Depositary’s Agent, any Registrar or Transfer Agent or the
Company shall be liable for any action or any failure to act by it in reliance upon the advice of legal counsel or accountants, or information provided by any person presenting Preferred Stock for deposit or any holder of a Receipt. The Depositary,
any Depositary’s Agent, any Registrar or Transfer Agent and the Company may each rely and shall each be protected in acting upon any written notice, request, direction or other document believed by it to be genuine and to have been signed or
presented by the proper party or parties. 
 In the event the Depositary shall receive conflicting claims, requests or instructions from any
holders of Receipts, on the one hand, and the Company, on the other hand, the Depositary shall be entitled to act on such claims, requests or instructions received from the Company, and shall incur no liability and shall be entitled to the full
indemnification set forth in Section 5.06 in connection with any action so taken. 
 The Depositary shall not be responsible for any
failure to carry out any instruction to vote any of the deposited Preferred Stock or for the manner or effect of any such vote made, as long as any such action or non-action does not result from bad faith, gross negligence or willful misconduct of
the Depositary (which bad faith, gross negligence or willful misconduct must be determined by a final, non-appealable order, judgment, decree or ruling of a court of competent jurisdiction). The Depositary undertakes, and any Registrar or Transfer
Agent shall be required to undertake, to perform such duties and only such duties as are specifically set forth in this Deposit Agreement, and no implied covenants or obligations shall be read into this Agreement against the Depositary or any
Registrar or Transfer Agent. 
 The Depositary, its parent, affiliate, or subsidiaries, any Depositary’s Agent, and any Registrar or
Transfer Agent may own, buy, sell or deal in any class of securities of the Company and its affiliates and in Receipts or Depositary Shares or become pecuniarily interested in any transaction in which the Company or its affiliates may be interested
or contract with or lend money to or otherwise act as fully or as freely as if it were not the Depositary or the Depositary’s Agent hereunder. The Depositary may also act as transfer agent or registrar of any of the securities of the Company
and its affiliates or act in any other capacity for the Company or its affiliates. 
 It is intended that neither the Depositary nor any
Depositary’s Agent shall be deemed to be an “issuer” of the securities under the federal securities laws or applicable state securities laws, it being expressly understood and agreed that the Depositary and any Depositary’s Agent
are acting only in a ministerial capacity as Depositary for the deposited Preferred Stock; provided, however, that the Depositary agrees to comply with all information reporting and withholding requirements applicable to it under law
or this Deposit Agreement in its capacity as Depositary. 
 Neither the Depositary (or its officers, directors, employees, agents or
affiliates) nor any Depositary’s Agent makes any representation or has any responsibility as to the validity of the registration statement pursuant to which the Depositary Shares are registered under the Securities Act, the deposited Preferred
Stock, the Depositary Shares, the Receipts (except its countersignature thereon) or any instruments referred to therein or herein, or as to the correctness of any statement made therein or herein; provided, however, that the Depositary
is responsible for its representations in this Deposit Agreement. 

  
 18 

 The Company agrees that it will register the deposited Preferred Stock and the Depositary Shares
in accordance with the applicable securities laws. 
 In the event the Depositary, the Depositary’s Agent or any Registrar or Transfer
Agent believes any ambiguity or uncertainty exists in any notice, instruction, direction, request or other communication, paper or document received by it pursuant to this Deposit Agreement, the Depositary, the Depositary’s Agent, Transfer
Agent or Registrar shall promptly notify the Company of the details of such alleged ambiguity or uncertainty, and may, in its sole discretion, refrain from taking any action, and the Depositary, the Depositary’s Agent, Transfer Agent or
Registrar shall be fully protected and shall incur no liability to any person from refraining from taking such action, absent bad faith, gross negligence or willful misconduct (which bad faith, gross negligence or willful misconduct must be
determined by a final, non-appealable order, judgment, decree or ruling of a court of competent jurisdiction), unless and until (i) the rights of all parties have been fully and finally adjudicated by a court of appropriate jurisdiction or
(ii) the Depositary, the Depositary’s Agent, Transfer Agent or Registrar receives written instructions with respect to such matter signed by the Company that eliminates such ambiguity or uncertainty to the satisfaction of the Depositary,
the Depositary’s Agent, Transfer Agent or Registrar. 
 Whenever in the performance of its duties under this Deposit Agreement, the
Depositary, the Depositary’s Agent, Transfer Agent or Registrar shall deem it necessary or desirable that any fact or matter be proved or established by the Company prior to taking, suffering or omitting to take any action hereunder, such fact
or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively provided and established by a certificate signed by any one of the President, any Vice President, the Treasurer, the Deputy
Treasurer, any Assistant Treasurer, Head of Corporate Finance, the Secretary or Assistant Secretary of the Company and delivered to the Depositary, the Depositary’s Agent, Transfer Agent or Registrar; and such certificate shall be full and
complete authorization and protection to the Depositary, the Depositary’s Agent, Transfer Agent or Registrar and the Depositary, the Depositary’s Agent, Transfer Agent or Registrar shall incur no liability for or in respect of any action
taken, suffered or omitted by it under the provisions of this Deposit Agreement in reliance upon such certificate. The Depositary, the Depositary’s Agent, Transfer Agent or Registrar shall not be liable for or by reason of any of the statements
of fact or recitals contained in this Deposit Agreement or in the Receipts (except its countersignature thereof) or be required to verify the same, and all such statements and recitals are and shall be deemed to have been made by the Company only.

 The Depositary, the Depositary’s Agent, Transfer Agent or Registrar will not be under any duty or responsibility to ensure
compliance with any applicable federal or state securities laws in connection with the issuance, transfer or exchange of the Receipts, Preferred Stock or Depositary Shares. 

Notwithstanding anything herein to the contrary, no amendment to the Certificate of Designations shall affect the rights, duties, obligations
or immunities of the Depositary, Transfer Agent, the Depositary’s Agent or Registrar hereunder. 

  
 19 

 The Depositary, Transfer Agent and any Registrar hereunder: 

(i) shall have no duties or obligations other than those specifically set forth herein (and no implied duties or obligations), or as may
subsequently be agreed to in writing by the parties; 
 (ii) shall have no obligation to make payment hereunder unless the Company shall have
provided the necessary federal or other immediately available funds or securities or property, as the case may be, to pay in full amounts due and payable with respect thereto; 

(iii) shall not be obligated to take any legal or other action hereunder; if, however, the Depositary determines to take any legal or other
action hereunder, and, where the taking of such action might in the Depositary’s judgment subject or expose it to any expense or liability, the Depositary shall not be required to act unless it shall have been furnished with an indemnity
satisfactory to it; 
 (iv) may rely on and shall be authorized and protected in acting or failing to act upon any certificate, instrument,
opinion, notice, letter, facsimile transmission or other document or security delivered to the Depositary and believed by the Depositary to be genuine and to have been signed by the proper party or parties, and shall have no responsibility for
determining the accuracy thereof; 
 (v) may rely on and shall be authorized and protected in acting or failing to act upon the written,
telephonic, electronic and oral instructions, with respect to any matter relating to the Depositary’s actions as depositary covered by this Deposit Agreement (or supplementing or qualifying any such actions) of officers of the Company; 

(vi) may consult counsel satisfactory to it, and the advice of such counsel shall be full and complete authorization and protection in respect
of any action taken, suffered or omitted by the Depositary hereunder in accordance with the advice of such counsel; 
 (vii) shall not be
called upon at any time to advise any person with respect to the Depositary Shares or Receipts; 
 (viii) shall not be liable or responsible
for any recital or statement contained in any documents relating hereto or the Depositary Shares or Receipts; and 
 (ix) shall not be liable
in any respect on account of the identity, authority or rights of the parties (other than with respect to the Depositary) executing or delivering or purporting to execute or deliver this Deposit Agreement or any documents or papers deposited or
called for under this Deposit Agreement. 
 The obligations of the Company and the rights of the Depositary set forth in this Section
5.03 shall survive the replacement, removal or resignation of any Depositary, Registrar, Transfer Agent or Depositary’s Agent or termination of this Deposit Agreement. 

  
 20 

 SECTION 5.04 Resignation and Removal of the Depositary; Appointment of Successor
Depositary. 
 The Depositary may at any time resign as Depositary hereunder by notice of its election to do so delivered to the Company,
such resignation to take effect upon the appointment of a successor depositary and its acceptance of such appointment as hereinafter provided. 

The Depositary may at any time be removed by the Company by notice of such removal delivered to the Depositary, such removal to take effect
upon the appointment of a successor depositary and its acceptance of such appointment as hereinafter provided. Upon any such removal or appointment, the Company shall send notice thereof by first-class mail, postage prepaid, to the holders of
Receipts. 
 In case at any time the Depositary acting hereunder shall resign or be removed, the Company shall, within 60 days after the
delivery of the notice of resignation or removal, as the case may be, appoint a successor depositary, which shall be an entity having its principal office in the United States of America and having a combined capital and surplus of at least
$50,000,000. If a successor depositary shall not have been appointed and have accepted appointment in 60 days, the resigning Depositary may petition a court of competent jurisdiction to appoint a successor depositary. Every successor depositary
shall execute and deliver to its predecessor and to the Company an instrument in writing accepting its appointment hereunder, and thereupon such successor depositary, without any further act or deed, shall become fully vested with all the rights,
powers, duties and obligations of its predecessor and for all purposes shall be the Depositary under this Deposit Agreement, and such predecessor, upon payment of all sums due it and on the written request of the Company, shall promptly execute and
deliver an instrument transferring to such successor all rights and powers of such predecessor hereunder, shall duly assign, transfer and deliver all rights, title and interest in the deposited Preferred Stock and any moneys or property held
hereunder to such successor and shall deliver to such successor a list of the record holders of all outstanding Receipts. 
 Any corporation
or other entity into or with which the Depositary may be merged, consolidated or converted, or any corporation or other entity to which all or a substantial part of the assets of the Depositary may be transferred, shall be the successor of such
Depositary without the execution or filing of any document or any further act. Such successor depositary may execute the Receipts either in the name of the predecessor depositary or in the name of the successor depositary. 

The provisions of this Section 5.04 as they apply to the Depositary apply to the Registrar and Transfer Agent, as if specifically
enumerated herein. 
 SECTION 5.05 Notices, Reports and Documents. 

The Company agrees that it will deliver to the Depositary, and the Depositary, if requested in writing by the Company, will promptly after
receipt of such notice, transmit to the record holders of Receipts, in each case at the address recorded in the Depositary’s books, copies of all notices and reports generally made available by the Company to holders of the Preferred Stock and
not otherwise made publicly available. Such transmission will be at the Company’s expense and the Company will provide the Depositary with such number of copies of such documents as the Depositary may reasonably request. In addition, the
Depositary will transmit to the record holders of Receipts at the Company’s expense such other documents as may be requested by the Company. 

  
 21 

 SECTION 5.06 Indemnification by the Company. 

The Company shall indemnify the Depositary, any Depositary’s Agent and any Transfer Agent or Registrar against, and hold each of them
harmless from, any loss, liability, damage, cost or expense (including the costs and expenses of defending itself) which may arise out of (i) acts performed or omitted in connection with this Deposit Agreement and the Receipts (a) by the
Depositary, any Transfer Agent or Registrar or any of their respective agents (including any Depositary’s Agent), except for any liability arising out of bad faith, gross negligence or willful misconduct (which bad faith, gross negligence or
willful misconduct must be determined by a final, non-appealable order, judgment, decree or ruling of a court of competent jurisdiction) on the respective parts of any such person or persons, or (b) by the Company or any of its agents, or
(ii) the offer, sale or registration of the Receipts or shares of Preferred Stock pursuant to the provisions hereof. The obligations of the Company and the rights of the Depositary set forth in this Section 5.06 shall survive the
replacement, removal or resignation of any Depositary, Registrar, Transfer Agent or Depositary’s Agent or termination of this Deposit Agreement. In no event shall the Depositary have any right of set off or counterclaim against the Depositary
Shares or the Preferred Stock. 
 SECTION 5.07 Fees, Charges and Expenses. 

No charges and expenses of the Depositary or any Depositary’s Agent hereunder shall be payable by any person, except as provided in this
Section 5.07. The Company shall pay all transfer and other taxes and governmental charges arising solely from the existence of this Deposit Agreement. The Company shall also pay all fees and expenses of the Depositary in connection with the
initial deposit of the Preferred Stock and the initial issuance of the Depositary Shares evidenced by the Receipts, any redemption of the Preferred Stock at the option of the Company and all withdrawals of the Preferred Stock by holders of Receipts.
All other fees and expenses of the Depositary and any Depositary’s Agent hereunder and of any Registrar or Transfer Agent (including, in each case, fees and expenses of counsel) incurred in the preparation, delivery, amendment, administration
and execution of this Deposit Agreement and incident to the performance of their respective obligations hereunder will be paid by the Company as previously agreed between the Depositary and the Company. The Depositary (and if applicable, the
Transfer Agent and Registrar) shall present its statement for fees and expenses to the Company once every three months or at such other intervals as the Company and the Depositary may agree. 

ARTICLE 6 
 AMENDMENT AND
TERMINATION 
 SECTION 6.01 Amendment. 

The form of the Receipts and any provision of this Deposit Agreement may at any time and from time to time be amended by agreement between the
Company and the Depositary without the consent of holders of Receipts in any respect that the Company and the Depositary 

  
 22 

 
may deem necessary or desirable; provided, however, that no such amendment (other than any change in the fees of any Depositary, Registrar or Transfer Agent that are payable by the
Company) which (i) shall materially and adversely alter the rights of the holders of Receipts or (ii) would be materially and adversely inconsistent with the rights granted to the holders of the Preferred Stock pursuant to the Certificate
of Incorporation shall be effective unless such amendment shall have been approved by the holders of Receipts evidencing at least two-thirds of the Depositary Shares then outstanding. In no event shall any amendment impair the right, subject to the
provisions of Sections 2.06 and 2.07 and Article 3, of any holder of any Receipts evidencing such Depositary Shares to surrender any Receipt with instructions to the Depositary to deliver to the holder the deposited Preferred
Stock and all money and other property, if any, represented thereby, except in order to comply with mandatory provisions of applicable law. Every holder of an outstanding Receipt at the time any such amendment becomes effective shall be deemed, by
continuing to hold such Receipt, to consent and agree to such amendment and to be bound by this Deposit Agreement as amended thereby. As a condition precedent to the Depositary’s execution of any amendment, the Company shall deliver to the
Depositary a certificate from a duly authorized officer of the Company that states that the proposed amendment is in compliance with the terms of this Section 6.01. 

SECTION 6.02 Termination. 

This Deposit Agreement may be terminated by the Company upon not less than 30 days’ prior written notice to the Depositary if the holders
of Receipts evidencing a majority of the Depositary Shares then outstanding consent to such termination, whereupon the Depositary shall deliver or make available to each holder of a Receipt, upon surrender of the Receipt held by such holder, such
number of whole or fractional shares of deposited Preferred Stock as are represented by the Depositary Shares evidenced by such Receipt, together with any other property held by the Depositary in respect of such Receipt. This Deposit Agreement will
automatically terminate if (i) all outstanding Depositary Shares shall have been redeemed in accordance with the provisions hereof or (ii) there shall have been made a final distribution in respect of the deposited Preferred Stock in
connection with any liquidation, dissolution or winding up of the Company and such distribution shall have been distributed to the holders of Receipts entitled thereto. 

Upon the termination of this Deposit Agreement, the Company shall be discharged from all obligations under this Deposit Agreement except for
its obligations to the Depositary, any Depositary’s Agent and any Transfer Agent or Registrar under Sections 5.03, 5.06 and 5.07. 

ARTICLE 7 
 MISCELLANEOUS

 SECTION 7.01 Counterparts. 

This Deposit Agreement may be executed in any number of counterparts, and by each of the parties hereto on separate counterparts, each of which
counterparts, when so executed and delivered, shall be deemed an original, but all such counterparts taken together shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Deposit Agreement by
facsimile shall be effective as delivery of a manually executed counterpart of this Deposit Agreement. 

  
 23 

 SECTION 7.02 Exclusive Benefits of Parties. 

This Deposit Agreement is for the exclusive benefit of the parties hereto, and their respective successors hereunder, and shall not be deemed
to give any legal or equitable right, remedy or claim to any other person whatsoever. 
 SECTION 7.03 Invalidity of
Provisions. 
 In case any one or more of the provisions contained in this Deposit Agreement or in the Receipts should be or become
invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein or therein shall in no way be affected, prejudiced or disturbed thereby; provided, however, that
if such provision affects the rights, duties, liabilities or obligations of the Depositary, the Depositary shall be entitled to resign immediately. 

SECTION 7.04 Notices. 

Any and all notices to be given to the Company hereunder or under the Receipts shall be in writing and shall be deemed to have been duly given
if personally delivered or sent by mail, or by facsimile transmission confirmed by letter, addressed to the Company at: 
 Citigroup Inc.

 601 Lexington Avenue 
 New
York, New York 10022 
 Attention: Treasury Department 

Fax: 646-291-1469 
 with a copy to: 

Citigroup Inc. 
 One Court Square,
45th Floor 
 Long Island City, New York 11120 

Attention: Barbara Politi, Assistant General Counsel– Capital Markets 

Fax: 718-248-4107 
 or at any other address of
which the Company shall have notified the Depositary in writing. 
 Any notices to be given to the Depositary, Transfer Agent or Registrar
hereunder or under the Receipts shall be in writing and shall be deemed to have been duly given if personally delivered or sent by mail, or telecopier confirmed by letter, addressed to the Depositary: 

Computershare Trust Company, N.A. 

c/o Computershare Inc. 
 250
Royall Street 
 Canton, Massachusetts 02021 

Attention: General Counsel 

Facsimile: 781-575-4210 

  
 24 

 Any notices given to any record holder of a Receipt hereunder or under the Receipts shall be in
writing and shall be deemed to have been duly given if transmitted through the facilities of DTC in accordance with DTC’s procedures or personally delivered or sent by mail, recognized next-day courier service or telecopier confirmed by letter,
addressed to such record holder at the address of such record holder as it appears on the books of the Depositary; provided, that any record holder may direct the Depositary to deliver notices to such record holder at an alternate address or
in a specific manner that is reasonably requested by such record holder in a written request timely filed with the Depositary and that is reasonably acceptable to the Depositary. 

Delivery of a notice sent by mail shall be deemed to be effected at the time when a duly addressed letter containing the same (or a
confirmation thereof in the case of a facsimile message) is deposited, postage prepaid, in a post office letter box, or in the case of a next-day courier service, when deposited with such courier, courier fees prepaid. The Depositary or the Company
may, however, act upon any facsimile message received by it from the other or from any holder of a Receipt, notwithstanding that such facsimile message shall not subsequently be confirmed by letter as aforesaid. 

SECTION 7.05 Depositary’s Agents. 

The Depositary may from time to time appoint Depositary’s Agents to act in any respect for the Depositary for the purposes of this Deposit
Agreement and may at any time appoint additional Depositary’s Agents and vary or terminate the appointment of such Depositary’s Agents. The Depositary will notify the Company of any such action. 

SECTION 7.06 Holders of Receipts Are Parties. 

The holders of Receipts from time to time shall be deemed to be parties to this Deposit Agreement and shall be bound by all of the terms and
conditions hereof and of the Receipts by acceptance of delivery thereof to the same extent as though such person executed this Deposit Agreement. 

SECTION 7.07 Governing Law. 

This Deposit Agreement and the Receipts and all rights hereunder and thereunder and provisions hereof and thereof shall be governed by, and
construed in accordance with, the law of the State of New York applicable to agreements made and to be performed in said State, without regard to conflicts of laws principles thereof. 

SECTION 7.08 Inspection of Deposit Agreement and Certificate of Designations. 

Copies of this Deposit Agreement and the Certificate of Designations shall be filed with the Depositary and the Depositary’s Agents and
shall be open to inspection during business hours at the Depositary Office by any holder of any Receipt. 
 SECTION 7.09
Headings. 
 The headings of articles and sections in this Deposit Agreement and in the form of the Receipt set forth in Exhibit
A hereto have been inserted for convenience only and are not to be regarded as a part of this Deposit Agreement or to have any bearing upon the meaning or interpretation of any provision contained herein or in the Receipts. 

  
 25 

 SECTION 7.10 Confidentiality. 

The Depositary and the Company agree that all books, records, information and data pertaining to the business of the other party, including,
inter alia, personal, non-public holder information, which are exchanged or received pursuant to the negotiation or the carrying out of this Deposit Agreement, shall remain confidential, and shall not be voluntarily disclosed to any other person,
except as may be required by law or legal process. 
 SECTION 7.11 Further Assurances. 

From time-to-time and after the date hereof, the Company agrees that it will perform, acknowledge and deliver or cause to be performed,
acknowledged and delivered all such further and other acts, documents, instruments and assurances as may be reasonably required by the Depositary for the carrying out or performing by the Depositary of the provisions of this Agreement. 

[Signature Page Follows] 

  
 26 

 IN WITNESS WHEREOF, Citigroup Inc. and Computershare Inc. and Computershare Trust Company, N.A.
have duly executed this Deposit Agreement as of the day and year first set forth above and all holders of Receipts shall become parties hereto by and upon acceptance by them of delivery of Receipts issued in accordance with the terms hereof. 

 

			
	CITIGROUP INC.
		
	By:	 	 /s/ Le Roy Davis

		 	Authorized Officer
	
	 COMPUTERSHARE INC. and

COMPUTERSHARE TRUST COMPANY,
 N.A., as Depositary, and
COMPUTERSHARE
 TRUST COMPANY, N.A., as Registrar and
 Transfer
Agent

		
	By:	 	 /s/ Dennis V. Moccia

		 	 Dennis V. Moccia
 Manager, Contract
Administration

 [Signature Page to Deposit Agreement] 

 Exhibit A 

FORM OF FACE OF RECEIPT 

IF GLOBAL RECEIPT IS ISSUED: UNLESS THIS RECEIPT IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE CORPORATION OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY RECEIPT ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY
OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF
THIS GLOBAL RECEIPT SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL RECEIPT SHALL BE LIMITED TO TRANSFERS MADE IN
ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE DEPOSIT AGREEMENT REFERRED TO BELOW. 
 IN CONNECTION WITH ANY TRANSFER, THE HOLDER
WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH REGISTRAR AND TRANSFER AGENT MAY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 

  
 A-1 

			
	Certificate Number:	  	Number of Depositary Shares:
		
		  	                                      
  CUSIP NO.:

 CITIGROUP INC. 

RECEIPT FOR DEPOSITARY SHARES 

Each Representing 1/1,000th of a Share of 

6.300% Noncumulative Preferred Stock, Series S 

(par value $1.00 per share) 

(liquidation preference $25,000 per share) 

Computershare Inc., a Delaware corporation (“Computershare”), and its wholly-owned subsidiary Computershare Trust Company, N.A., a
federally chartered national association (the “Trust Company” and jointly with Computershare, the “Depositary”), hereby certify that CEDE & CO. is the registered owner
of            (            ) depositary shares
($            aggregate liquidation preference) (“Depositary Shares”), each Depositary Share representing 1/1,000th of one
share of 6.300% Noncumulative Preferred Stock, Series S, $1.00 par value per share and liquidation preference of $25,000 per share of Citigroup Inc., a Delaware corporation (the “Company”), on deposit with the Depositary, subject to the
terms and entitled to the benefits of the Deposit Agreement, dated February 2, 2016 (the “Deposit Agreement”), among the Company, the Depositary, the Trust Company, as Registrar and Transfer Agent (each term as defined in the Deposit
Agreement), and the holders from time to time of Receipts for Depositary Shares. By accepting this Receipt, the holder hereof becomes a party to and agrees to be bound by all the terms and conditions of the Deposit Agreement. This Receipt shall not
be valid or obligatory for any purpose or entitled to any benefits under the Deposit Agreement unless it shall have been executed by the Depositary by the manual or facsimile signature of a duly authorized officer or, if a Registrar in respect of
the Receipts (other than the Depositary) shall have been appointed, by the manual signature of a duly authorized officer of such Registrar. 
  

							
	 Dated:
 [Countersigned:
	 		 	 Computershare Inc. and Computershare Trust

Company, N.A., as Depositary

				
	                                      
                                         
     ]	 		 	By:	 	  

	By	 		 		 	Authorized Signatory

  
 A-2 

 [FORM OF REVERSE OF RECEIPT] 

The following abbreviations when used in the instructions on the face of this receipt shall be construed as though they were written out in
full according to applicable laws or regulations. 
  

					
	TEN COM - as tenant in common	 		  	 UNIF GIFT MIN ACT -             

Custodian             

		 		  	                                (Cust)     
       (Minor)
			
	TEN ENT - as tenants by the entireties	 		  	Under Uniform Gifts to Minors Act
			
	JT TEN - as joint tenants with right of survivorship and not as tenants in common	 		  	
		 		  	  
 (State)

 Additional abbreviations may also be used though not in the above list. 

ASSIGNMENT 
 For value received,
                                         
    hereby sell(s), assign(s) and transfer(s) unto 
 PLEASE INSERT SOCIAL SECURITY OR 

OTHER IDENTIFYING NUMBER OF ASSIGNEE, AS APPLICABLE 
  

 
  

 
 PLEASE PRINT OR TYPEWRITE NAME AND
ADDRESS 
 INCLUDING POSTAL ZIP CODE OF ASSIGNEE 
  

 

                          
                       Depositary Shares represented by the within Receipt, and do hereby irrevocably constitute and appoint 

                          
                       Attorney to transfer the said Depositary Shares on the books of the within named Depositary with full power of
substitution in the premises. 
  

			
	Dated                                     
               	  	  

		
		  	NOTICE:            The signature to the assignment must correspond with the name as written upon the face of this Receipt in every particular, without alteration or
enlargement or any change whatever.

 SIGNATURE GUARANTEED 
 NOTICE:
The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations, and credit unions with membership in an approved signature guarantee medallion program), pursuant to Rule 17Ad-15 under
the Securities Exchange Act of 1934. 

  
 A-3 

 Exhibit B 

Certificate of Designationsfss20160202agreement

EXHIBIT 10.1      Execution Version    Published CUSIP Numbers: 31396DAD0     31396DAE8                   $325,000,000      AMENDED AND RESTATED CREDIT AGREEMENT      dated as of January 27, 2016,      by and among      FEDERAL SIGNAL CORPORATION   as US Borrower,      certain Foreign Subsidiaries of US Borrower    from time to time parties hereto as Non-US Borrowers,      the Lenders referred to herein,   as Lenders,      WELLS FARGO BANK, NATIONAL ASSOCIATION,   as Administrative Agent,   Swingline Lender and Issuing Lender,      JPMORGAN CHASE BANK, N.A.    as Syndication Agent,      KEYBANK NATIONAL ASSOCIATION   as Documentation Agent      and      WELLS FARGO SECURITIES, LLC,   and   J.P. MORGAN SECURITIES LLC   as Joint Lead Arrangers and Joint Bookrunners                    

 

   Table of Contents   Page   ARTICLE IDEFINITIONS ......................................................................................................................... 1   Section 1.1 Definitions ...................................................................................................... 1   Section 1.2 Other Definitions and Provisions ................................................................. 30   Section 1.3 Accounting Terms ........................................................................................ 30   Section 1.4 UCC Terms .................................................................................................. 31   Section 1.5 Rounding ...................................................................................................... 31   Section 1.6 References to Agreement and Laws ............................................................. 31   Section 1.7 Times of Day ................................................................................................ 31   Section 1.8 Letter of Credit Amounts ............................................................................. 31   Section 1.9 Guarantees .................................................................................................... 31   Section 1.10 Covenant Compliance Generally.................................................................. 31   Section 1.11 Exchange Rates; Currency Equivalents ....................................................... 32   Section 1.12 Change of Currency ..................................................................................... 32   ARTICLE IIREVOLVING CREDIT FACILITY ..................................................................................... 32   Section 2.1 Revolving Credit Loans ............................................................................... 32   Section 2.2 Swingline Loans ........................................................................................... 33   Section 2.3 Procedure for Advances of Revolving Credit Loans and Swingline   Loans ............................................................................................................ 35   Section 2.4 Repayment and Prepayment of Revolving Credit and Swingline   Loans ............................................................................................................ 36   Section 2.5 Reserved ....................................................................................................... 37   Section 2.6 Termination of Revolving Credit Facility .................................................... 37   ARTICLE IIILETTER OF CREDIT FACILITY ...................................................................................... 38   Section 3.1 L/C Facility .................................................................................................. 38   Section 3.2 Procedure for Issuance of Letters of Credit .................................................. 38   Section 3.3 Commissions and Other Charges ................................................................. 39   Section 3.4 L/C Participations ......................................................................................... 39   Section 3.5 Reimbursement Obligation of the US Borrower .......................................... 40   Section 3.6 Obligations Absolute .................................................................................... 41   Section 3.7 Effect of Letter of Credit Application .......................................................... 41   Section 3.8 Resignation of Issuing Lenders .................................................................... 41   Section 3.9 Reporting of Letter of Credit Information and L/C Commitment ................ 42     

 

TABLE OF CONTENTS   (continued)   Page        Section 3.10 Letters of Credit Issued for Subsidiaries ...................................................... 42   ARTICLE IVRESERVED ......................................................................................................................... 42   ARTICLE VGENERAL LOAN PROVISIONS ........................................................................................ 42   Section 5.1 Interest .......................................................................................................... 42   Section 5.2 Notice and Manner of Conversion or Continuation of Loans ...................... 44   Section 5.3 Fees .............................................................................................................. 44   Section 5.4 Manner of Payment ...................................................................................... 45   Section 5.5 Evidence of Indebtedness ............................................................................. 45   Section 5.6 Sharing of Payments by Lenders .................................................................. 46   Section 5.7 Administrative Agent’s Clawback ............................................................... 47   Section 5.8 Changed Circumstances ............................................................................... 47   Section 5.9 Indemnity ..................................................................................................... 48   Section 5.10 Increased Costs ............................................................................................. 49   Section 5.11 Taxes ............................................................................................................ 50   Section 5.12 Mitigation Obligations; Replacement of Lenders ........................................ 53   Section 5.13 Incremental Loans ........................................................................................ 54   Section 5.14 Cash Collateral ............................................................................................. 58   Section 5.15 Defaulting Lenders ....................................................................................... 59   Section 5.16 Non-US Borrowers ....................................................................................... 61   Section 5.17 Designated Lenders ...................................................................................... 61   ARTICLE VICONDITIONS OF CLOSING AND BORROWING ......................................................... 62   Section 6.1 Conditions to Closing and Initial Extensions of Credit ................................ 62   Section 6.2 Conditions to All Extensions of Credit ........................................................ 66   ARTICLE VIIREPRESENTATIONS AND WARRANTIES OF THE CREDIT PARTIES ................... 67   Section 7.1 Organization; Power; Qualification .............................................................. 67   Section 7.2 Ownership .................................................................................................... 67   Section 7.3 Authorization; Enforceability ....................................................................... 67   Section 7.4 Compliance of Agreement, Loan Documents and Borrowing with   Laws, Etc ...................................................................................................... 68   Section 7.5 Compliance with Law; Governmental Approvals ........................................ 68   Section 7.6 Tax Returns and Payments ........................................................................... 68   Section 7.7 Intellectual Property Matters ........................................................................ 69   Section 7.8 Environmental Matters ................................................................................. 69     

 

TABLE OF CONTENTS   (continued)   Page        Section 7.9 Employee Benefit Matters ............................................................................ 70   Section 7.10 Margin Stock ................................................................................................ 71   Section 7.11 Government Regulation ............................................................................... 71   Section 7.12 Reserved ....................................................................................................... 71   Section 7.13 Employee Relations ...................................................................................... 71   Section 7.14 Burdensome Provisions ................................................................................ 71   Section 7.15 Financial Statements .................................................................................... 71   Section 7.16 No Material Adverse Change ....................................................................... 72   Section 7.17 Solvency ....................................................................................................... 72   Section 7.18 Title to Properties ......................................................................................... 72   Section 7.19 Litigation ...................................................................................................... 72   Section 7.20 Anti-Corruption Laws and Sanctions ........................................................... 72   Section 7.21 Absence of Defaults ..................................................................................... 72   Section 7.22 Senior Indebtedness Status ........................................................................... 73   Section 7.23 Disclosure ..................................................................................................... 73   ARTICLE VIIIAFFIRMATIVE COVENANTS ....................................................................................... 73   Section 8.1 Financial Statements and Budgets ................................................................ 73   Section 8.2 Certificates; Other Reports ........................................................................... 74   Section 8.3 Notice of Litigation and Other Matters ........................................................ 75   Section 8.4 Preservation of Corporate Existence and Related Matters ........................... 76   Section 8.5 Maintenance of Property and Licenses ........................................................ 76   Section 8.6 Insurance ...................................................................................................... 76   Section 8.7 Accounting Methods and Financial Records ................................................ 77   Section 8.8 Payment of Taxes and Other Obligations ..................................................... 77   Section 8.9 Compliance with Laws and Approvals ........................................................ 77   Section 8.10 Environmental Laws .................................................................................... 77   Section 8.11 Compliance with ERISA .............................................................................. 77   Section 8.12 Compliance with Agreements ...................................................................... 78   Section 8.13 Visits and Inspections ................................................................................... 78   Section 8.14 Additional Subsidiaries ................................................................................ 78   Section 8.15 Reserved ....................................................................................................... 79   Section 8.16 Use of Proceeds ............................................................................................ 79     

 

TABLE OF CONTENTS   (continued)   Page        Section 8.17 Reserved ....................................................................................................... 79   Section 8.18 Compliance with Anti-Corruption Laws and Sanctions ............................... 79   Section 8.19 Corporate Governance .................................................................................. 80   Section 8.20 Further Assurances ....................................................................................... 80   Section 8.21 Post-Closing Matters .................................................................................... 80   ARTICLE IXNEGATIVE COVENANTS ................................................................................................ 80   Section 9.1 Indebtedness ................................................................................................. 80   Section 9.2 Liens ............................................................................................................. 82   Section 9.3 Investments................................................................................................... 84   Section 9.4 Fundamental Changes .................................................................................. 85   Section 9.5 Asset Dispositions ........................................................................................ 86   Section 9.6 Restricted Payments ..................................................................................... 87   Section 9.7 Transactions with Affiliates ......................................................................... 88   Section 9.8 Accounting Changes; Organizational Documents........................................ 88   Section 9.9 Payments and Modifications of Subordinated Indebtedness ........................ 89   Section 9.10 No Further Negative Pledges; Restrictive Agreements ................................ 89   Section 9.11 Nature of Business ....................................................................................... 90   Section 9.12 Reserved ....................................................................................................... 90   Section 9.13 Sale Leasebacks ............................................................................................ 90   Section 9.14 Reserved ....................................................................................................... 90   Section 9.15 Financial Covenants ..................................................................................... 90   Section 9.16 Disposal of Subsidiary Interests ................................................................... 91   ARTICLE XDEFAULT AND REMEDIES .............................................................................................. 91   Section 10.1 Events of Default .......................................................................................... 91   Section 10.2 Remedies ...................................................................................................... 93   Section 10.3 Rights and Remedies Cumulative; Non-Waiver; etc. ................................... 93   Section 10.4 Crediting of Payments and Proceeds ............................................................ 94   Section 10.5 Administrative Agent May File Proofs of Claim ......................................... 96   Section 10.6 Credit Bidding .............................................................................................. 96   ARTICLE XITHE ADMINISTRATIVE AGENT .................................................................................... 97   Section 11.1 Appointment and Authority.......................................................................... 97   Section 11.2 Rights as a Lender ........................................................................................ 97     

 

TABLE OF CONTENTS   (continued)   Page        Section 11.3 Exculpatory Provisions ................................................................................ 98   Section 11.4 Reliance by the Administrative Agent ......................................................... 99   Section 11.5 Delegation of Duties ..................................................................................... 99   Section 11.6 Resignation of Administrative Agent ........................................................... 99   Section 11.7 Non-Reliance on Administrative Agent and Other Lenders ...................... 100   Section 11.8 No Other Duties, Etc .................................................................................. 100   Section 11.9 Collateral and Guaranty Matters ................................................................ 101   Section 11.10 Secured Hedge Agreements and Secured Cash Management   Agreements................................................................................................. 102   ARTICLE XIIMISCELLANEOUS ......................................................................................................... 102   Section 12.1 Notices ........................................................................................................ 102   Section 12.2 Amendments, Waivers and Consents ......................................................... 104   Section 12.3 Expenses; Indemnity .................................................................................. 106   Section 12.4 Right of Setoff ............................................................................................ 108   Section 12.5 Governing Law; Jurisdiction, Etc. .............................................................. 109   Section 12.6 Waiver of Jury Trial ................................................................................... 110   Section 12.7 Reversal of Payments ................................................................................. 110   Section 12.8 Injunctive Relief ......................................................................................... 110   Section 12.9 Successors and Assigns; Participations ...................................................... 110   Section 12.10 Treatment of Certain Information; Confidentiality .................................... 114   Section 12.11 Performance of Duties ................................................................................ 115   Section 12.12 All Powers Coupled with Interest .............................................................. 115   Section 12.13 Survival ...................................................................................................... 115   Section 12.14 Titles and Captions ..................................................................................... 116   Section 12.15 Severability of Provisions .......................................................................... 116   Section 12.16 Counterparts; Integration; Effectiveness; Electronic Execution ................ 116   Section 12.17 Term of Agreement .................................................................................... 116   Section 12.18 USA PATRIOT Act ................................................................................... 117   Section 12.19 Independent Effect of Covenants ............................................................... 117   Section 12.20 No Advisory or Fiduciary Responsibility .................................................. 117   Section 12.21 Amendment and Restatement; No Novation .............................................. 118   Section 12.22 Inconsistencies with Other Documents ...................................................... 118   Section 12.23 Anti-Money Laundering Legislation. ......................................................... 118     

 

TABLE OF CONTENTS   (continued)   Page        Section 12.24 Maximum Amount. .................................................................................... 119   Section 12.25 Judgment Currency. ................................................................................... 119           

 

      vii   EXHIBITS     Exhibit A-1 - Form of Revolving Credit Note   Exhibit A-2 - Form of Swingline Note   Exhibit A-3 - Form of Non-US Revolving Credit Note   Exhibit B - Form of Notice of Borrowing   Exhibit C - Form of Notice of Account Designation   Exhibit D - Form of Notice of Prepayment   Exhibit E - Form of Notice of Conversion/Continuation   Exhibit F - Form of Officer’s Compliance Certificate   Exhibit G - Form of Assignment and Assumption   Exhibit H-1 - Form of U.S. Tax Compliance Certificate (Non-Partnership   Foreign Lenders)   Exhibit H-2 - Form of U.S. Tax Compliance Certificate (Non-Partnership   Foreign Participants)   Exhibit H-3 - Form of U.S. Tax Compliance Certificate (Foreign Participant   Partnerships)   Exhibit H-4 - Form of U.S. Tax Compliance Certificate (Foreign Lender   Partnerships)   Exhibit I - Form of Notice of Non-US Borrower      SCHEDULES   Schedule 1.1(a) - Existing Letters of Credit   Schedule 1.1(b)  Commitments and Commitment Percentages   Schedule 7.1 - Jurisdictions of Organization and Qualification   Schedule 7.2 - Subsidiaries and Capitalization   Schedule 7.6 - Tax Matters   Schedule 7.9 - ERISA Plans   Schedule 7.13 - Labor and Collective Bargaining Agreements   Schedule 7.18 - Real Property   Schedule 8.21 - Post-Closing Matters   Schedule 9.1 - Existing Indebtedness   Schedule 9.2 - Existing Liens   Schedule 9.3 - Existing Loans, Advances and Investments   Schedule 9.7 - Transactions with Affiliates        

 

           AMENDED AND RESTATED CREDIT AGREEMENT, dated as of January 27, 2016, by and   among FEDERAL SIGNAL CORPORATION, a Delaware corporation (“US Borrower”), certain Foreign   Subsidiaries of US Borrower joined from time to time as a Borrower pursuant to Section 5.16   (collectively, the “Non-US Borrowers” and each a “Non-US Borrower”, together with the US Borrower,   collectively the “Borrowers”), the lenders who are party to this Agreement and the lenders who may   become a party to this Agreement pursuant to the terms hereof, as Lenders, and WELLS FARGO BANK,   NATIONAL ASSOCIATION, a national banking association, as Administrative Agent for the Lenders.   STATEMENT OF PURPOSE   A. The US Borrower, certain financial institutions as lenders and Wells Fargo as   Administrative Agent entered into the Credit Agreement, dated as of March 13, 2013 (as amended, the   “Existing Credit Agreement”).   B. The parties wish to amend and restate the Existing Credit Agreement in its entirety.   C. The parties hereto intend that this Agreement and the Loan Documents executed in   connection herewith not effect a novation of the obligations of the US Borrower under the Existing Credit   Agreement but merely a restatement, and where applicable, an amendment to the terms governing said   obligations.   NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which   are hereby acknowledged by the parties hereto, such parties hereby agree as follows:   ARTICLE I    DEFINITIONS   Section 1.1 Definitions.  The following terms when used in this Agreement shall have the   meanings assigned to them below:   “Acquisition” means any transaction, or any series of related transactions, consummated on or   after the date of this Agreement, by which any Credit Party or any of its Subsidiaries (a) acquires any   going business or all or substantially all of the assets of any Person, or division thereof, whether through   purchase of assets, merger or otherwise or (b) directly or indirectly acquires (in one transaction or as the   most recent transaction in a series of transactions) at least a majority (in number of votes) of the securities   of a corporation which have ordinary voting power for the election of directors (other than securities   having such power only by reason of the happening of a contingency) or a majority (by percentage or   voting power) of the outstanding ownership interests of a partnership or limited liability company.    “Administrative Agent” means Wells Fargo, in its capacity as Administrative Agent hereunder,   and any successor thereto appointed pursuant to Section 11.6.   “Administrative Agent’s Office” means the office of the Administrative Agent specified in or   determined in accordance with the provisions of Section 12.1(c).   “Administrative Questionnaire” means an administrative questionnaire in a form supplied by the   Administrative Agent.   “Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly   through one or more intermediaries, Controls or is Controlled by or is under common Control with the   Person specified.     

 

      - 2 -   “Agreement” means this Amended and Restated Credit Agreement.   “Agreement Currency” has the meaning assigned thereto in Section 12.25.   “Alternative Currency” means the Euro and the Canadian Dollar.   “Alternative Currency Equivalent” means, at any time, with respect to any amount denominated   in Dollars, the equivalent amount thereof in the applicable Alternative Currency as determined by the   Administrative Agent at such time on the basis of the Spot Rate (determined in respect of the most recent   Revaluation Date) for the purchase of such Alternative Currency with Dollars.   “Alternative Currency Sublimit” means an amount equal to the lesser of the Revolving Credit   Commitment and either (i) 85,000,000 Canadian Dollars or (ii) 20,000,000 Euro, as the case may be.  In   either case, the Alternative Currency Sublimit is part of, and not in addition to, the Revolving Credit   Commitment.   “AML Legislation” has the meaning assigned thereto in Section 12.23.   “Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to   the US Borrower or its Subsidiaries from time to time concerning or relating to bribery or corruption,   including, without limitation, the United States Foreign Corrupt Practices Act of 1977, as amended, and   the rules and regulations thereunder.   “Applicable Law” means all applicable provisions of constitutions, laws, statutes, ordinances,   rules, treaties, regulations, permits, licenses, approvals, interpretations and orders of Governmental   Authorities and all orders and decrees of all courts and arbitrators.   “Applicable Margin” means the corresponding percentages per annum as set forth below based   on the Consolidated Total Leverage Ratio:      Revolving Credit   Loans   Pricing   Level   Consolidated Total   Leverage Ratio   Commitment   Fee   LIBOR   +   Base Rate   +   I Greater than or equal to   2.50 to 1.00   0.30% 2.25% 1.25%   II Greater than or equal to   2.00 to 1.00, but less   than 2.50 to 1.00   0.25% 1.75% 0.75%   III Greater than or equal to   1.25 to 1.00, but less   than 2.00 to 1.00   0.25% 1.50% 0.50%   IV Greater than or equal to   0.75 to 1.00 but less than   1.25 to 1.00   0.20% 1.25% 0.25%   V Less than 0.75 to 1.00 0.15% 1.00% 0.00%          The Applicable Margin shall be determined and adjusted quarterly on the date five (5) Business Days   after the day on which the US Borrower provides an Officer’s Compliance Certificate pursuant to   Section 8.2(a) for the most recently ended fiscal quarter of the Borrower (each such date, a “Calculation   Date”); provided that (a) the Applicable Margin shall be based on Pricing Level V until the first   Calculation Date occurring after December 31, 2015 and, thereafter the Pricing Level shall be determined     

 

      - 3 -   by reference to the Consolidated Total Leverage Ratio as of the last day of the most recently ended fiscal   quarter of the US Borrower preceding the applicable Calculation Date, and (b) if the US Borrower fails to   provide an Officer’s Compliance Certificate when due as required by Section 8.2(a) for the most recently   ended fiscal quarter of the US Borrower preceding the applicable Calculation Date, the Applicable   Margin from the date on which such Officer’s Compliance Certificate was required to have been   delivered shall be based on Pricing Level I until such time as such Officer’s Compliance Certificate is   provided, at which time the Pricing Level shall be determined by reference to the Consolidated Total   Leverage Ratio as of the last day of the most recently ended fiscal quarter of the US Borrower preceding   such Calculation Date.  Except as provided in the foregoing sentence, the applicable Pricing Level shall   be effective from one Calculation Date until the next Calculation Date.  Any adjustment in the Pricing   Level shall be applicable to all Extensions of Credit then existing or subsequently made or issued.   Notwithstanding the foregoing, in the event that any financial statement or Officer’s Compliance   Certificate delivered pursuant to Section 8.1 or 8.2(a) is shown to be inaccurate (regardless of whether   (i) this Agreement is in effect, (ii) any Commitments are in effect, or (iii) any Extension of Credit is   outstanding when such inaccuracy is discovered or such financial statement or Officer’s Compliance   Certificate was delivered), and such inaccuracy, if corrected, would have led to the application of a higher   Applicable Margin for any period (an “Applicable Period”) than the Applicable Margin applied for such   Applicable Period, then (A) the US Borrower shall immediately deliver to the Administrative Agent a   corrected Officer’s Compliance Certificate for such Applicable Period, (B) the Applicable Margin for   such Applicable Period shall be determined as if the Consolidated Total Leverage Ratio in the corrected   Officer’s Compliance Certificate were applicable for such Applicable Period, and (C) the US Borrower   shall immediately and retroactively be obligated to pay to the Administrative Agent the accrued additional   interest and fees owing as a result of such increased Applicable Margin for such Applicable Period, which   payment shall be promptly applied by the Administrative Agent in accordance with Section 5.4.  Nothing   in this paragraph shall limit the rights of the Administrative Agent and Lenders with respect to   Sections 5.1(b) and 10.2 nor any of their other rights under this Agreement or any other Loan Document.    The US Borrower’s obligations under this paragraph shall survive the termination of the Commitments   and the repayment of all other Obligations hereunder.   The Applicable Margins set forth above shall be increased as, and to the extent, required by Section 5.13.   “Applicable Time” means, with respect to any borrowings and payments in any Alternative   Currency, the local time in the place of settlement for such Alternative Currency as may be determined by   the Administrative Agent or an Issuing Lender, as the case may be, to be necessary for timely settlement   on the relevant date in accordance with normal banking procedures in the place of payment.   “Approved Fund” means any Fund that is administered or managed by (a) a Lender, (b) an   Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender.   “Arrangers” means Wells Fargo Securities, LLC, and J.P. Morgan Securities LLC in their   capacities as joint lead arrangers and joint bookrunners.   “Asset Disposition” means the sale, transfer, license, lease or other disposition of any Property   (including any disposition of Capital Stock) by any Credit Party or any Subsidiary thereof (or the granting   of any option or other right to do any of the foregoing), and any issuance of Capital Stock by any   Subsidiary of the US Borrower to any Person that is not a Credit Party or any Subsidiary thereof.  The   term “Asset Disposition” shall not include (a) the sale of inventory in the ordinary course of business, (b)   the transfer of assets to the US Borrower or any Subsidiary Guarantor pursuant to any other transaction   permitted pursuant to Section 9.4, (c) the write-off, discount, sale or other disposition of defaulted or past-   due receivables and similar obligations in the ordinary course of business and not undertaken as part of an     

 

      - 4 -   accounts receivable financing transaction, (d) the disposition of any Hedge Agreement, (e) dispositions of   Investments in cash and Cash Equivalents, (f) the transfer by any Credit Party of its assets to any other   Credit Party, (g) the transfer by any Non-Guarantor Subsidiary of its assets to any Credit Party (provided   that in connection with any new transfer, such Credit Party shall not pay more than an amount equal to the   fair market value of such assets as determined in good faith at the time of such transfer) and (h) the   transfer by any Non-Guarantor Subsidiary of its assets to any other Non-Guarantor Subsidiary.   “Assignment and Assumption” means an assignment and assumption entered into by a Lender   and an Eligible Assignee (with the consent of any party whose consent is required by Section 12.9), and   accepted by the Administrative Agent, in substantially the form attached as Exhibit G or any other form   approved by the Administrative Agent.   “Attributable Indebtedness” means, on any date of determination, (a) in respect of any Capital   Lease Obligation of any Person, the capitalized amount thereof that would appear on a balance sheet of   such Person prepared as of such date in accordance with GAAP, and (b) in respect of any Synthetic   Lease, the capitalized amount or principal amount of the remaining lease payments under the relevant   lease that would appear on a balance sheet of such Person prepared as of such date in accordance with   GAAP if such lease were accounted for as a Capital Lease Obligation.   “Available Amount” means, at any date of determination (the applicable “Available Amount   Reference Date”), an amount equal to, without duplication:   (x) the sum of the cumulative amount of 50% of (i) the Consolidated Net Income, plus (ii) non-   cash charges in an amount not to exceed $10,000,000 to the extent deducted in determining Consolidated   Net Income, minus (iii) non-cash gains against in an amount not to exceed $10,000,000 to the extent   included in determining Consolidated Net Income, for each fiscal quarter after the Closing Date and on or   prior to the Available Amount Reference Date;   minus:   (y) the sum of:   (i) a cumulative amount of 100% of (i) the Consolidated Net Loss, plus (ii) non-cash   charges in an amount not to exceed $10,000,000 to the extent deducted in determining   Consolidated Net Loss, minus (iii) non-cash gains against in an amount not to exceed   $10,000,000 to the extent included in determining Consolidated Net Loss, for each fiscal quarter   after the Closing Date and on or prior to the Available Amount Reference Date; plus   (ii) the aggregate amount of the Restricted Payments made pursuant to Section 9.6(f)   after the Closing Date and on or prior to the Available Amount Reference Date.   “Base Rate” means, at any time, the highest of (a) the Prime Rate, (b) the Federal Funds Rate plus   0.50% and (c) LIBOR for an Interest Period of one month plus 1%; each change in the Base Rate shall   take effect simultaneously with the corresponding change or changes in the Prime Rate, the Federal Funds   Rate or LIBOR (provided that clause (c) shall not be applicable during any period in which LIBOR is   unavailable or unascertainable).   “Base Rate Loan” means any Loan bearing interest at a rate based upon the Base Rate as   provided in Section 5.1(a).  All Base Rate Loans are only available to the US Borrower and Loans   denominated in Dollars.     

 

      - 5 -   “Borrowers” has the meaning set forth in the Preamble.   “Business Day” means any day other than a Saturday, Sunday or other day on which commercial   banks are authorized to close under the Applicable Laws of, or are in fact closed in, the state where the   Administrative Agent’s Office with respect to Obligations denominated in Dollars is located and:       (a) if such day relates to any interest rate settings as to a LIBOR Rate Loan   denominated in Dollars, any fundings, disbursements, settlements and payments in Dollars in   respect of any such LIBOR Rate Loan, or any other dealings in Dollars to be carried out pursuant   to this Agreement in respect of any such LIBOR Rate Loan, means any such day that is also a   London Banking Day;       (b) if such day relates to any interest rate settings as to a LIBOR Rate Loan   denominated in Euro, any fundings, disbursements, settlements and payments in Euro in respect   of any such LIBOR Rate Loan, or any other dealings in Euro to be carried out pursuant to this   Agreement in respect of any such LIBOR Rate Loan, means a TARGET Day;       (c) if such day relates to any interest rate settings as to a LIBOR Rate Loan   denominated in a currency other than Dollars or Euro, means any such day on which dealings in   deposits in the relevant currency are conducted by and between banks in the London or other   applicable offshore interbank market for such currency; and       (d) if such day relates to any fundings, disbursements, settlements and payments in a   currency other than Dollars or Euro in respect of a LIBOR Rate Loan denominated in a currency   other than Dollars or Euro, or any other dealings in any currency other than Dollars or Euro to be   carried out pursuant to this Agreement in respect of any such LIBOR Rate Loan (other than any   interest rate settings), means any such day on which banks are open for foreign exchange business   in the principal financial center of the country of such currency.   “Calculation Date” has the meaning assigned thereto in the definition of Applicable Margin.   “Canadian Dollar” or “CAD” means the lawful currency of Canada.   “Capital Expenditures” means, with respect to the US Borrower and its Subsidiaries on a   Consolidated basis, for any period, (a) the additions to property, plant and equipment and other capital   expenditures that are (or would be) set forth in a consolidated statement of cash flows of such Person for   such period prepared in accordance with GAAP and (b) Capital Lease Obligations during such period, but   excluding expenditures for the restoration, repair or replacement of any fixed or capital asset which was   destroyed or damaged, in whole or in part, to the extent financed by the proceeds of an insurance policy   maintained by such Person.   “Capital Lease Obligations” of any Person means the obligations of such Person to pay rent or   other amounts under any lease of (or other arrangement conveying the right to use) real or personal   property, or a combination thereof, which obligations are required to be classified and accounted for as   capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be   the capitalized amount thereof determined in accordance with GAAP.   “Capital Stock” means (a) in the case of a corporation, capital stock, (b) in the case of an   association or business entity, any and all shares, interests, participations, rights or other equivalents   (however designated) of capital stock, (c) in the case of a partnership, partnership interests (whether   general or limited), (d) in the case of a limited liability company, membership interests, (e) any other     

 

      - 6 -   interest or participation that confers on a Person the right to receive a share of the profits and losses of, or   distributions of assets of, the issuing Person and (f) any and all warrants, rights or options to purchase any   of the foregoing.   “Cash Collateralize” means, to deposit in a Controlled Account or to pledge and deposit with, or   deliver to the Administrative Agent, or directly to the applicable Issuing Lender (with notice thereof to   the Administrative Agent), for the benefit of one or more of the Issuing Lenders, the Swingline Lender or   the Lenders, as collateral for L/C Obligations or obligations of the Lenders to fund participations in   respect of L/C Obligations or Swingline Loans, cash or deposit account balances or, if the Administrative   Agent and the applicable Issuing Lender and the Swingline Lender shall agree, in their sole discretion,   other credit support, in each case pursuant to documentation in form and substance satisfactory to the   Administrative Agent, such Issuing Lender and the Swingline Lender, as applicable.  “Cash Collateral”   shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral   and other credit support.   “Cash Equivalents” means, collectively, (a) marketable direct obligations issued or   unconditionally guaranteed by the United States or any agency thereof maturing within one hundred   twenty (120) days from the date of acquisition thereof, (b) commercial paper maturing no more than one   hundred twenty (120) days from the date of creation thereof and currently having the highest rating   obtainable from either S&P or Moody’s, (c) certificates of deposit maturing no more than one hundred   twenty (120) days from the date of creation thereof issued by commercial banks incorporated under the   laws of the United States, each having combined capital, surplus and undivided profits of not less than   $500,000,000 and having a rating of “A” or better by a nationally recognized rating agency; provided that   the aggregate amount invested in such certificates of deposit shall not at any time exceed $5,000,000 for   any one such certificate of deposit and $10,000,000 for any one such bank, or (d) time deposits maturing   no more than thirty (30) days from the date of creation thereof with commercial banks or savings banks or   savings and loan associations each having membership either in the FDIC or the deposits of which are   insured by the FDIC and in amounts not exceeding the maximum amounts of insurance thereunder.   “Cash Management Agreement” means any agreement to provide cash management services,   including treasury, depository, overdraft, credit or debit card (including non-card electronic payables),   electronic funds transfer and other cash management arrangements.   “Cash Management Bank” means any Person that, (a) at the time it enters into a Cash   Management Agreement with a Credit Party, is a Lender, an Affiliate of a Lender, the Administrative   Agent or an Affiliate of the Administrative Agent, or (b) at the time it (or its Affiliate) becomes a Lender   (including on the Closing Date), is a party to a Cash Management Agreement with a Credit Party, in each   case in its capacity as a party to such Cash Management Agreement.   “Change in Control” means an event or series of events by which:   (a) (i) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the   Exchange Act, but excluding any employee benefit plan of such person or its Subsidiaries, and any person   or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan)   becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except   that a “person” or “group” shall be deemed to have “beneficial ownership” of all Capital Stock that such   “person” or “group” has the right to acquire, whether such right is exercisable immediately or only after   the passage of time (such right, an “option right”)), directly or indirectly, of more than thirty percent   (30%) of the Capital Stock of the US Borrower entitled to vote in the election of members of the board of   directors (or equivalent governing body) of the US Borrower or (ii) a majority of the members of the     

 

      - 7 -   board of directors (or other equivalent governing body) of the US Borrower shall not constitute   Continuing Directors;    (b) the US Borrower shall cease to beneficially own and control, directly or indirectly, 100%   on a fully diluted basis of the economic and voting interest in the Capital Stock of each Guarantor (other   than in a transaction permitted by Section 9.4); or   (c) there shall have occurred under any indenture or other instrument evidencing any   Indebtedness or Capital Stock in excess of $20,000,000 any “change in control” or similar event (as set   forth in the indenture, agreement or other evidence of such Indebtedness) obligating the US Borrower or   any of its Subsidiaries to repurchase, redeem or repay all or any part of the Indebtedness or Capital Stock   provided for therein.   “Change in Law” means the occurrence, after the date of this Agreement, of any of the following:   (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule,   regulation or treaty or in the administration, interpretation, implementation or application thereof by any   Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive   (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding   anything herein to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and   all requests, rules, guidelines or directives thereunder or issued in connection therewith and (ii) all   requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel   Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign   regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in   Law”, regardless of the date enacted, adopted or issued.   “Class” means, when used in reference to any Loan, whether such Loan is a Revolving Credit   Loan or Swingline Loan and, when used in reference to any Revolving Credit Commitment.   “Closing Date” means the date of this Agreement.   “Code” means the Internal Revenue Code of 1986, and the rules and regulations promulgated   thereunder.   “Collateral” means the collateral security for the Secured Obligations pledged or granted pursuant   to the Security Documents.   “Commitment Fee” has the meaning assigned thereto in Section 5.3(a).   “Commitment Percentage” means, as to any Lender, such Lender’s Revolving Credit   Commitment Percentage.   “Commitments” means, collectively, as to all Lenders, the Revolving Credit Commitments of   such Lenders.   “Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.).   “Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by   net income (however denominated) or that are franchise Taxes or branch profits Taxes.   “Consolidated” means, when used with reference to financial statements or financial statement   items of any Person, such statements or items on a consolidated basis in accordance with applicable   principles of consolidation under GAAP.     

 

      - 8 -   “Consolidated EBITDA” means, for any period, the sum of the following determined on a   Consolidated basis, without duplication, for the US Borrower and its Subsidiaries in accordance with   GAAP: (a) Consolidated Net Income (excluding effects of non-cash adjustments resulting from   application of purchase accounting in relation to any Permitted Acquisition) for such period plus (b) the   sum of the following, without duplication, to the extent deducted in determining Consolidated Net   Income for such period: (i) income and franchise taxes, (ii) Consolidated Interest Expense and   (iii) amortization, depreciation and non-cash compensation charges, non-cash restructuring and non-cash   impairment charges (except to the extent that such non-cash charges are reserved for cash charges to be   taken prior to the Revolving Credit Maturity Date) and other non-cash charges subject to the consent of   the Administrative Agent, less (c) the sum of the following, without duplication, to the extent included in   determining Consolidated Net Income for such period: (i) interest income and (ii) non-cash gains and   income.  Consolidated EBITDA shall include EBITDA from Permitted Acquisitions on a Pro Forma   Basis and shall exclude EBITDA from dispositions on a Pro Forma Basis.   “Consolidated Interest Coverage Ratio” means, as of any date of determination, the ratio of   (a) Consolidated EBITDA for the period of four (4) consecutive fiscal quarters ending on or immediately   prior to such date to (b) Consolidated Interest Expense for the period of four (4) consecutive fiscal   quarters ending on or immediately prior to such date   “Consolidated Interest Expense” means, for any period, the sum of the following determined on a   Consolidated basis, without duplication, for the US Borrower and its Subsidiaries in accordance with   GAAP, cash interest expense (including, without limitation, interest expense attributable to Capital Lease   Obligations and all payment obligations, net of receipts, pursuant to Hedge Agreements related to   Indebtedness for such period.   “Consolidated Net Income” or “Consolidated Net Loss” means, for any period, the net income (or   loss) of the US Borrower and its Subsidiaries for such period, determined on a Consolidated basis,   without duplication, in accordance with GAAP; provided, that in calculating Consolidated Net Income of   the US Borrower and its Subsidiaries for any period, there shall be excluded (a) the net income (or loss)   of any Person (other than a Subsidiary which shall be subject to clause (c) below), in which any Borrower   or any of its Subsidiaries has a joint interest with a third party, except to the extent such net income is   actually paid in cash to the US Borrower or any of its Subsidiaries by dividend or other distribution   during such period, (b) the net income (or loss) of any Person accrued prior to the date it becomes a   Subsidiary of the US Borrower or any of its Subsidiaries or is merged into or consolidated with the US   Borrower or any of its Subsidiaries or that Person’s assets are acquired by the US Borrower or any of its   Subsidiaries except to the extent included pursuant to the foregoing clause (a), (c) the net income (if   positive), of any Subsidiary to the extent that the declaration or payment of dividends or similar   distributions by such Subsidiary to the US Borrower or any of its Subsidiaries of such net income (i) is   not at the time permitted by operation of the terms of its charter or any agreement, instrument, judgment,   decree, order, statute, rule or governmental regulation applicable to such Subsidiary or (ii) would be   subject to any taxes payable on such dividends or distributions, but in each case only to the extent of such   prohibition or taxes and (d) any gain or loss from Asset Dispositions during such period.   “Consolidated Total Indebtedness” means, as of any date of determination with respect to the US   Borrower and its Subsidiaries on a Consolidated basis without duplication, the sum of all Indebtedness of   the US Borrower and its Subsidiaries excluding (i) commercial letters of credit, (ii) up to $25,000,000 of   standby letters of credit exposure pertaining to workers compensation insurance and (iii) up to   $10,000,000 of performance and warranty bonds and standby letters of credit that operate as performance   and warranty bonds incurred in the ordinary course of business.     

 

      - 9 -   “Consolidated Total Leverage Ratio” means, as of any date of determination, the ratio of (a)   Consolidated Total Indebtedness on such date to (b) Consolidated EBITDA for the period of four (4)   consecutive fiscal quarters ending on or immediately prior to such date.   “Continuing Directors” means the directors of the US Borrower on the Closing Date and each   other director (or equivalent) of the US Borrower, if, in each case, such other Person’s nomination for   election to the board of directors of the US Borrower is approved by at least 51% of the then Continuing   Directors.   “Control” means the possession, directly or indirectly, of the power to direct or cause the   direction of the management or policies of a Person, whether through the ability to exercise voting power,   by contract or otherwise.  “Controlling” and “Controlled” have meanings correlative thereto.   “Controlled Account” means each deposit account and securities account that is subject to an   account control agreement in form and substance satisfactory to the Administrative Agent and each of the   applicable Issuing Lenders that is entitled to Cash Collateral hereunder at the time such control agreement   is executed.   “Covenant Holiday” has the meaning assigned thereto in Section 9.15(a)(ii).   “Credit Facility” means, collectively, the Revolving Credit Facility, the Swingline Facility and   the L/C Facility.   “Credit Parties” means, collectively, the Borrowers and the Subsidiary Guarantors.   “Criminal Code Section” has the meaning assigned thereto in Section 12.24.   “Debtor Relief Laws” means the Bankruptcy Code of the United States of America, and all other   liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium,   rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States   or other applicable jurisdictions from time to time in effect.   “Default” means any of the events specified in Section 10.1 which with the passage of time, the   giving of notice or any other condition, would constitute an Event of Default.   “Default Rate” has the meaning assigned thereto in Section 5.1(b).   “Defaulting Lender” means, subject to Section 5.15(b), any Lender that (a) has failed to (i) fund   all or any portion of the Revolving Credit Loans, participations in L/C Obligations or participations in   Swingline Loans required to be funded by it hereunder within two Business Days of the date such Loans   or participations were required to be funded hereunder unless such Lender notifies the Administrative   Agent and the US Borrower in writing that such failure is the result of such Lender’s determination that   one or more conditions precedent to funding (each of which conditions precedent, together with any   applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the   Administrative Agent, any Issuing Lender, the Swingline Lender or any other Lender any other amount   required to be paid by it hereunder (including in respect of its participation in Letters of Credit or   Swingline Loans) within two Business Days of the date when due, (b) has notified the US Borrower, the   Administrative Agent, any Issuing Lender or the Swingline Lender in writing that it does not intend to   comply with its funding obligations hereunder, or has made a public statement to that effect (unless such   writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that   such position is based on such Lender’s determination that a condition precedent to funding (which     

 

      - 10 -   condition precedent, together with any applicable default, shall be specifically identified in such writing   or public statement) cannot be satisfied), (c) has failed, within three Business Days after written request   by the Administrative Agent or the US Borrower, to confirm in writing to the Administrative Agent and   the US Borrower that it will comply with its prospective funding obligations hereunder (provided that   such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written   confirmation by the Administrative Agent and the US Borrower), or (d) has, or has a direct or indirect   parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, or (ii) had   appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of   creditors or similar Person charged with reorganization or liquidation of its business or assets, including   the FDIC or any other state or federal regulatory authority acting in such a capacity; provided that a   Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity   interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so   long as such ownership interest does not result in or provide such Lender with immunity from the   jurisdiction of courts within the United States or from the enforcement of judgments or writs of   attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate,   disavow or disaffirm any contracts or agreements made with such Lender.  Any determination by the   Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through   (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a   Defaulting Lender (subject to Section 5.15(b)) upon delivery of written notice of such determination to   the US Borrower, each Issuing Lender, the Swingline Lender and each Lender.   “Designated Lender” has the meaning assigned thereto in Section 5.17.   “Disqualified Capital Stock” means any Capital Stock that, by their terms (or by the terms of any   security or other Capital Stock into which they are convertible or for which they are exchangeable) or   upon the happening of any event or condition, (a)  matures or is mandatorily redeemable (other than   solely for Qualified Capital Stock), pursuant to a sinking fund obligation or otherwise (except as a result   of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a   change of control or asset sale event shall be subject to the prior repayment in full of the Loans and all   other Obligations that are accrued and payable and the termination of the Commitments), (b) is   redeemable at the option of the holder thereof (other than solely for Qualified Capital Stock) (except as a   result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence   of a change of control or asset sale event shall be subject to the prior repayment in full of the Loans and   all other Obligations that are accrued and payable and the termination of the Commitments), in whole or   in part, (c) provides for the scheduled payment of dividends in cash or (d) is or become convertible into or   exchangeable for Indebtedness or any other Capital Stock that would constitute Disqualified Capital   Stock, in each case, prior to the date that is 91 days after the Revolving Loan Maturity Date; provided that   if such Capital Stock is issued pursuant to a plan for the benefit of the US Borrower or its Subsidiaries or   by any such plan to such employees, such Capital Stock shall not constitute Disqualified Capital Stock   solely because they may be required to be repurchased by the US Borrower or its Subsidiaries in order to   satisfy applicable statutory or regulatory obligations.   “Dollar Equivalent” means, at any time, (a) with respect to any amount denominated in Dollars,   such amount, and (b) with respect to any amount denominated in any Alternative Currency, the equivalent   amount thereof in Dollars as determined by the Administrative Agent at such time on the basis of the Spot   Rate (determined in respect of the most recent Revaluation Date) for the purchase of Dollars with such   Alternative Currency.   “Dollars” or “$” means, unless otherwise qualified, dollars in lawful currency of the United   States.     

 

      - 11 -   “Domestic Subsidiary” means any Subsidiary organized under the laws of any political   subdivision of the United States.   “Eligible Assignee” means any Person that meets the requirements to be an assignee under   Section 12.9(b)(iii), (v) and (vi) (subject to such consents, if any, as may be required under   Section 12.9(b)(iii)).     “Employee Benefit Plan” means (a) any employee benefit plan within the meaning of   Section 3(3) of ERISA that is maintained for employees of any Credit Party or any ERISA Affiliate or   (b) any Pension Plan or Multiemployer Plan that has at any time within the preceding seven (7) years   been maintained, funded or administered for the employees of any Credit Party or any current or former   ERISA Affiliate.   “Environmental Claims” means any and all administrative, regulatory or judicial actions, suits,   demands, demand letters, claims, liens, accusations, allegations, notices of noncompliance or violation,   investigations (other than internal reports prepared by any Person in the ordinary course of business and   not in response to any third party action or request of any kind) or proceedings relating in any way to any   actual or alleged violation of or liability under any Environmental Law or relating to any permit issued, or   any approval given, under any such Environmental Law, including, without limitation, any and all claims   by Governmental Authorities for enforcement, cleanup, removal, response, remedial or other actions or   damages, contribution, indemnification, cost recovery, compensation or injunctive relief resulting from   Hazardous Materials or arising from alleged injury or threat of injury to public health or the environment.   “Environmental Laws” means any and all federal, foreign, state, provincial and local laws,   statutes, ordinances, codes, rules, standards and regulations, permits, licenses, approvals, interpretations   and orders of courts or Governmental Authorities, relating to the protection of public health or the   environment, including, but not limited to, requirements pertaining to the manufacture, processing,   distribution, use, treatment, storage, disposal, transportation, handling, reporting, licensing, permitting,   investigation or remediation of Hazardous Materials.   “ERISA” means the Employee Retirement Income Security Act of 1974, and the rules and   regulations thereunder.   “ERISA Affiliate” means any Person who together with any Credit Party or any of its   Subsidiaries is treated as a single employer within the meaning of Section 414(b), (c), (m) or (o) of the   Code or Section 4001(b) of ERISA.   “Euro” and “€” mean the single currency of the Participating Member States.   “Eurodollar Reserve Percentage” means, for any day, the percentage which is in effect for such   day as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for   determining the maximum reserve requirement (including, without limitation, any basic, supplemental or   emergency reserves) in respect of eurocurrency liabilities or any similar category of liabilities for a   member bank of the Federal Reserve System in New York City.   “Event of Default” means any of the events specified in Section 10.1; provided that any   requirement for passage of time, giving of notice, or any other condition, has been satisfied.   “Exchange Act” means the Securities Exchange Act of 1934.     

 

      - 12 -   “Excluded Swap Obligation” means, with respect to any Credit Party, any Swap Obligation if,   and to the extent that, all or a portion of the liability of such Credit Party for or the guarantee of such   Credit Party of, or the grant by such Credit Party of a security interest to secure, such Swap Obligation (or   any liability or guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule,   regulation or order of the Commodity Futures Trading Commission (or the application or official   interpretation of any thereof) by virtue of such Credit Party’s failure for any reason to constitute an   “eligible contract participant” as defined in the Commodity Exchange Act and the regulations thereunder   at the time the liability for or the guarantee of such Credit Party or the grant of such security interest   becomes effective with respect to such Swap Obligation (such determination being made after giving   effect to any applicable keepwell, support or other agreement for the benefit of the applicable Credit   Party, including under Section 15 of the Subsidiary Guaranty Agreement).  If a Swap Obligation arises   under a master agreement governing more than one swap, such exclusion shall apply only to the portion   of such Swap Obligation that is attributable to swaps for which such guarantee or security interest is or   becomes illegal for the reasons identified in the immediately preceding sentence of this definition.   “Excluded Taxes” means any of the following Taxes imposed on or with respect to a Recipient or   required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by   net income (however denominated), franchise Taxes, branch profits Taxes and capital Taxes, in each case,   (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office   or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax   (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender,   Canadian or United States federal withholding Taxes imposed on amounts payable to or for the account of   such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on   the date on which (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant   to an assignment request by the US Borrower under Section 5.12(b)) or (ii) such Lender changes its   lending office, except in each case to the extent that, pursuant to Section 5.11, amounts with respect to   such Taxes were payable either to such Lender's assignor immediately before such Lender became a party   hereto or to such Lender immediately before it changed its lending office, (c) Taxes attributable to such   Recipient’s failure to comply with Section 5.11(g) and (d) any United States federal withholding Taxes   imposed under FATCA.   “Existing Credit Agreement” has the meaning set forth in the Statement of Purpose.   “Existing Letters of Credit” means those letters of credit existing on the Closing Date and   identified on Schedule 1.1(a).   “Extensions of Credit” means, as to any Lender at any time, (a) an amount equal to the sum of   (i) the aggregate principal amount of all Revolving Credit Loans made by such Lender then outstanding,   (ii) such Lender’s Revolving Credit Commitment Percentage of the L/C Obligations then outstanding and   (iii) such Lender’s Revolving Credit Commitment Percentage of the Swingline Loans then outstanding, or   (b) the making of any Loan or participation in any Letter of Credit by such Lender, as the context   requires.   “Facility Office” means the office designated by the applicable Lender through which such   Lender will perform its obligations under this Agreement.   “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or   any amended or successor version that is substantively comparable and not materially more onerous to   comply with), any current or future regulations or official interpretations thereof and any agreements   entered into pursuant to Section 1471(b)(1) of the Code.     

 

      - 13 -   “FDIC” means the Federal Deposit Insurance Corporation.   “Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the   rates on overnight federal funds transactions with members of the Federal Reserve System, as published   by the Federal Reserve Bank of New York on the Business Day next succeeding such day, provided that   if such rate is not so published for any day which is a Business Day, the average of the quotation for such   day on such transactions received by the Administrative Agent from three federal funds brokers of   recognized standing selected by the Administrative Agent.  Notwithstanding the foregoing, if the Federal   Funds Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.   “Fee Letters” means (a) the engagement letter agreement dated December 17, 2015 between the   US Borrower and Wells Fargo Securities, LLC, (b) the fee letter between the US Borrower and J.P.   Morgan Securities LLC and (c) the fee letter between the US Borrower and Wells Fargo relating to   issuance fees due Wells Fargo as Issuing Lender and (d) the fee letter between the US Borrower and   JPMC relating to issuance fees due JPMC as Issuing Lender.   “First Tier Foreign Subsidiary” means any Foreign Subsidiary that is a “controlled foreign   corporation” within the meaning of Section 957 of the Code and the Capital Stock of which are owned   directly by any Credit Party.   “Fiscal Year” means the fiscal year of the US Borrower and its Subsidiaries ending on December   31.   “Foreign Lender” means (a) if a Borrower is a U.S. Person, a Lender that is not a U.S. Person,   and (b) if a Borrower is not a U.S. Person, a Lender that is resident or organized under the laws of a   jurisdiction other than that in which such Borrower is resident for tax purposes.   “Foreign Subsidiary” means any Subsidiary that is not a Domestic Subsidiary.   “Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect to any   Issuing Lender, such Defaulting Lender’s Revolving Credit Commitment Percentage of the outstanding   L/C Obligations with respect to Letters of Credit issued by such Issuing Lender, other than such L/C   Obligations as to which such Defaulting Lender’s participation obligation has been reallocated to other   Lenders or Cash Collateralized in accordance with the terms hereof and (b) with respect to the Swingline   Lender, such Defaulting Lender’s Revolving Credit Commitment Percentage of outstanding Swingline   Loans other than Swingline Loans as to which such Defaulting Lender’s participation obligation has been   reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof.   “Fund” means any Person (other than a natural Person) that is (or will be) engaged in making,   purchasing, holding or otherwise investing in commercial loans, bonds and similar extensions of credit in   the ordinary course of its activities.   “GAAP” means generally accepted accounting principles in the United States set forth in the   opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified   Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or   such other principles as may be approved by a significant segment of the accounting profession in the   United States, that are applicable to the circumstances as of the date of determination, consistently   applied.   “Governmental Approvals” means all authorizations, consents, approvals, permits, licenses and   exemptions of, and all registrations and filings with or issued by, any Governmental Authorities.     

 

      - 14 -   “Governmental Authority” means the government of the United States or any other nation, or of   any political subdivision thereof, whether state or local, and any agency, authority, instrumentality,   regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing,   regulatory or administrative powers or functions of or pertaining to government (including any supra-   national bodies such as the European Union or the European Central Bank).   “Guarantee” of or by any Person (the “guarantor”) means any obligation, contingent or otherwise,   of the guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other   obligation of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and   including any obligation of the guarantor, direct or indirect, (a) to purchase or pay (or advance or supply   funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance   or supply funds for the purchase of) any security for the payment thereof, (b) to purchase or lease   property, securities or services for the purpose of assuring the owner of such Indebtedness or other   obligation of the payment thereof, (c) to maintain working capital, equity capital or any other financial   statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such   Indebtedness or other obligation, (d) as an account party in respect of any letter of credit or letter of   guaranty issued to support such Indebtedness or obligation or (e) for the purpose of assuming in any other   manner the obligee in respect of such Indebtedness or other obligation of the payment or performance   thereof or to protect such obligee against loss in respect thereof (whether in whole or in part).   “Hazardous Materials” means any substances or materials (a) which are or become defined as   hazardous wastes, hazardous substances, pollutants, contaminants, chemical substances or mixtures or   toxic substances under any Environmental Law, (b) which are toxic, explosive, corrosive, flammable,   infectious, radioactive, carcinogenic, mutagenic or otherwise harmful to public health or the environment   and are or become regulated by any Governmental Authority, (c) the presence of which require   investigation or remediation under any Environmental Law or common law, (d) the discharge or emission   or release of which requires a permit or license under any Environmental Law or other Governmental   Approval, (e) which are deemed by a Governmental Authority to constitute a nuisance or a trespass which   pose a health or safety hazard to Persons or neighboring properties, or (f) which contain, without   limitation, asbestos, polychlorinated biphenyls, urea formaldehyde foam insulation, petroleum   hydrocarbons, petroleum derived substances or waste, crude oil, nuclear fuel, natural gas or synthetic gas.   “Hedge Agreement” means (a) any and all rate swap transactions, basis swaps, credit derivative   transactions, forward rate transactions, commodity swaps, commodity options, forward commodity   contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or   forward bond or forward bond price or forward bond index transactions, interest rate options, forward   foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap   transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar   transactions or any combination of any of the foregoing (including any options to enter into any of the   foregoing), whether or not any such transaction is governed by or subject to any master agreement, and   (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and   conditions of, or governed by, any form of master agreement published by the International Swaps and   Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master   agreement.   “Hedge Bank” means any Person that, (a) at the time it enters into a Hedge Agreement with a   Credit Party permitted under Article IX, is a Lender, an Affiliate of a Lender, the Administrative Agent or   an Affiliate of the Administrative Agent or (b) at the time it (or its Affiliate) becomes a Lender (including   on the Closing Date), is a party to a Hedge Agreement with a Credit Party, in each case in its capacity as a   party to such Hedge Agreement.     

 

      - 15 -   “Hedge Termination Value” means, in respect of any one or more Hedge Agreements, after   taking into account the effect of any legally enforceable netting agreement relating to such Hedge   Agreements, (a) for any date on or after the date such Hedge Agreements have been closed out and   termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date   prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for   such Hedge Agreements, as determined based upon one or more mid-market or other readily available   quotations provided by any recognized dealer in such Hedge Agreements (which may include a Lender or   any Affiliate of a Lender).   “Increased Amount Date” has the meaning assigned thereto in Section 5.13(a).   “Incremental Lender” has the meaning assigned thereto in Section 5.13(a).   “Incremental Loan Commitments” has the meaning assigned thereto in Section 5.13(a)(ii).   “Incremental Loans” has the meaning assigned thereto in Section 5.13(a)(ii).   “Incremental Revolving Credit Commitment” has the meaning assigned thereto in   Section 5.13(a)(ii).   “Incremental Revolving Credit Increase” has the meaning assigned thereto in Section 5.13(a)(ii).   “Incremental Term Loan” has the meaning assigned thereto in Section 5.13(a)(i).   “Incremental Term Loan Commitment” has the meaning assigned thereto in Section 5.13(a)(i).   “Indebtedness” means, with respect to any Person at any date and without duplication, the sum of   the following:   (a) all liabilities, obligations and indebtedness for borrowed money including, but not limited   to, obligations evidenced by bonds, debentures, notes or other similar instruments of any   such Person;   (b) all obligations to pay the deferred purchase price of property or services of any such   Person (including, without limitation, all obligations under non-competition, earn-out or   similar agreements to the extent accounted for as a liability on the financial statements   pursuant to GAAP), except trade payables arising in the ordinary course of business not   more than ninety (90) days past due, or that are currently being contested in good faith by   appropriate proceedings and with respect to which reserves in conformity with GAAP   have been provided for on the books of such Person;   (c) the Attributable Indebtedness of such Person with respect to such Person’s Capital Lease   Obligations and Synthetic Leases (regardless of whether accounted for as indebtedness   under GAAP);   (d) all obligations of such Person under conditional sale or other title retention agreements   relating to property purchased by such Person to the extent of the value of such property   (other than customary reservations or retentions of title under agreements with suppliers   entered into in the ordinary course of business);     

 

      - 16 -   (e) all Indebtedness of any other Person secured by a Lien on any asset owned or being   purchased by such Person (including indebtedness arising under conditional sales or other   title retention agreements except trade payables arising in the ordinary course of   business), whether or not such indebtedness shall have been assumed by such Person or is   limited in recourse;   (f) all obligations, contingent or otherwise, of any such Person relative to the face amount of   letters of credit, whether or not drawn, including, without limitation, any Reimbursement   Obligation, and banker’s acceptances issued for the account of any such Person;   (g) all obligations of any such Person in respect of Disqualified Capital Stock;   (h) all net obligations of such Person under any Hedge Agreements; and   (i) all Guarantees of any such Person with respect to any of the foregoing.   For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any   partnership or joint venture (other than a joint venture that is itself a corporation or limited liability   company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is   expressly made non-recourse to such Person.  The amount of any net obligation under any Hedge   Agreement on any date shall be deemed to be the Hedge Termination Value thereof as of such date.   “Indemnified Taxes” means (a) Taxes, other than Excluded Taxes and (b) to the extent not   otherwise described in clause (a), Other Taxes.   “Initial Issuing Lenders” means Wells Fargo and JPMC.    “Insurance and Condemnation Event” means the receipt by any Credit Party or any of its   Subsidiaries of any cash insurance proceeds or condemnation award payable by reason of theft, loss,   physical destruction or damage, taking or similar event with respect to any of their respective Property.   “Interest Period” means, as to each LIBOR Rate Loan, the period commencing on the date such   LIBOR Rate Loan is disbursed or converted to or continued as a LIBOR Rate Loan and ending on the   date one (1), two (2), three (3), six (6) or twelve (12) months thereafter, in each case as selected by the US   Borrower in its Notice of Borrowing or Notice of Conversion/Continuation and subject to availability;   provided that:   (a) the Interest Period shall commence on the date of advance of or conversion to any   LIBOR Rate Loan and, in the case of immediately successive Interest Periods, each   successive Interest Period shall commence on the date on which the immediately   preceding Interest Period expires;   (b) if any Interest Period would otherwise expire on a day that is not a Business Day, such   Interest Period shall expire on the next succeeding Business Day; provided that if any   Interest Period with respect to a LIBOR Rate Loan would otherwise expire on a day that   is not a Business Day but is a day of the month after which no further Business Day   occurs in such month, such Interest Period shall expire on the immediately preceding   Business Day;   (c) any Interest Period with respect to a LIBOR Rate Loan that begins on the last Business   Day of a calendar month (or on a day for which there is no numerically corresponding     

 

      - 17 -   day in the calendar month at the end of such Interest Period) shall end on the last   Business Day of the relevant calendar month at the end of such Interest Period;   (d) no Interest Period shall extend beyond the Revolving Credit Maturity Date; and   (e) there shall be no more than ten (10) Interest Periods in effect at any time.   “IPO” means an initial public offering of Capital Stock by the US Borrower registered with the   Securities Exchange Commission under the Securities Act of 1933.   “IRS” means the United States Internal Revenue Service.   “ISP98” means the International Standby Practices (1998 Revision, effective January 1, 1999),   International Chamber of Commerce Publication No. 590.   “Issuing Lender” means (a) with respect to Letters of Credit issued hereunder on or after the   Closing Date, (i) the Initial Issuing Lenders and (ii) any other Revolving Credit Lender to the extent it has   agreed in its sole discretion to act as an “Issuing Lender” hereunder and that has been approved in writing   by the Borrower and the Administrative Agent (such approval by the Administrative Agent not   unreasonably be delayed or withheld) as an “Issuing Lender” hereunder, in each case in its capacity as   issuer of any Letter of Credit; provided that the total number of Issuing Lenders under this clause (a) shall   not exceed four (4) and (b) with respect to the Existing Letters of Credit, Wells Fargo, in its capacity as   issuer thereof.   “Issuing Lender Sublimit” means with respect to each Issuing Lender individually (severally, and   not jointly), $25,000,000, as such amount may be separately modified from time to time between such   Issuing Lender and the US Borrower (with specific notice of such amount, and any change thereto, with   respect to each Issuing Lender being promptly communicated to the Administrative Agent).   “Judgment Currency” has the meaning assigned thereto in Section 12.25.   “JPMC” means JPMorgan Chase Bank, N.A.   “Knowledge” of or as it relates to the US Borrower or any Subsidiary, means the knowledge of a   Responsible Officer of such Person.   “L/C Commitment” means, as to any Issuing Lender, the obligation of such Issuing Lender to   issue Letters of Credit for the account of the US Borrower or one or more of its Subsidiaries from time to   time in an aggregate amount equal to (a) for each of the Initial Issuing Lenders, the amount set forth   opposite the name of each such Initial Issuing Lender on Schedule 1.1(a) and (b) for any other Issuing   Lender becoming an Issuing Lender after the Closing Date, such amount as separately agreed to in a   written agreement between the US Borrower and such Issuing Lender (which such agreement shall be   promptly delivered to the Administrative Agent upon execution), in each case of clauses (a) and (b)   above, any such amount may be changed after the Closing Date in a written agreement between the US   Borrower and such Issuing Lender (which such agreement shall be promptly delivered to the   Administrative Agent upon execution); provided that the L/C Commitment with respect to any Person   that ceases to be an Issuing Lender for any reason pursuant to the terms hereof shall be $0 (subject to the   Letters of Credit of such Person remaining outstanding in accordance with the provisions hereof).   “L/C Facility” means the letter of credit facility established pursuant to Article III.     

 

      - 18 -   “L/C Obligations” means at any time, an amount equal to the sum of (a) the aggregate undrawn   and unexpired amount of the then outstanding Letters of Credit and (b) the aggregate amount of drawings   under Letters of Credit which have not then been reimbursed pursuant to Section 3.5.   “L/C Participants” means, with respect to any Letter of Credit, the collective reference to all the   Revolving Credit Lenders other than the applicable Issuing Lender.   “L/C Sublimit” means the lesser of (a)  $50,000,000 and (b) the Revolving Credit Commitment.   “Lender” means each Person executing this Agreement as a Lender on the Closing Date and any   other Person that shall have become a party to this Agreement as a Lender pursuant to an Assignment and   Assumption or pursuant to Section 5.13, other than any Person that ceases to be a party hereto as a Lender   pursuant to an Assignment and Assumption.  The term “Lenders” shall include any Designated Lender.    Unless the context otherwise requires, the term “Lenders” includes the Swingline Lender.   “Lender Joinder Agreement” means a joinder agreement in form and substance reasonably   satisfactory to the Administrative Agent delivered in connection with Section 5.13.   “Lending Office” means, with respect to any Lender, the office of such Lender maintaining such   Lender’s Extensions of Credit, which office may include any Affiliate of such Lender or any domestic or   foreign branch or such Lender or such Affiliate.   “Letter of Credit Application” means an application, in the form specified by the applicable   Issuing Lender from time to time, requesting such Issuing Lender to issue a Letter of Credit.   “Letters of Credit” means the collective reference to letters of credit issued pursuant to   Section 3.1 and the Existing Letters of Credit.  Letters of Credit may be issued in Dollars or in the   Alternative Currency.   “LIBOR” means:   (a) for any interest rate calculation with respect to a LIBOR Rate Loan denominated in   Dollars or Euro, the rate of interest per annum determined on the basis of the rate for   deposits in Dollars or Euro for a period equal to the applicable Interest Period which   appears on Reuters Screen LIBOR01 Page (or any applicable successor page) at   approximately 11:00 a.m. (London time) two (2) London Banking Days prior to the first   day of the applicable Interest Period.  If, for any reason, such rate does not appear on   Reuters Screen LIBOR01 Page (or any applicable successor page), then “LIBOR” shall   be determined by the Administrative Agent to be the arithmetic average of the rate per   annum at which deposits in Dollars would be offered by first class banks in the London   interbank market to the Administrative Agent at approximately 11:00 a.m. (London time)   two (2) London Banking Days prior to the first day of the applicable Interest Period for a   period equal to such Interest Period;   (b) for any interest rate calculation with respect to a LIBOR Rate Loan denominated in   Canadian Dollars, the rate of interest per annum determined on the basis of the rate for   deposits in Canadian Dollars equal to the Canadian Dealer Offered Rate (“CDOR”) for a   period equal to the applicable Interest Period which appears on the applicable Reuters   Screen Page (or any applicable successor page) at approximately 10:00 a.m. (Toronto,   Ontario time) on the Rate Determination Date.  If, for any reason, such rate does not   appear on the applicable Reuters Screen Page (or any applicable successor page), then     

 

      - 19 -   “CDOR” shall be determined by the Administrative Agent to be the arithmetic average of   the rate per annum at which deposits in Canadian Dollars would be offered by first class   banks in the Ontario interbank market to the Administrative Agent at approximately   10:00 a.m. (Toronto, Ontario time) on the Rate Determination Date.   (c) for any interest rate calculation with respect to a Base Rate Loan, the rate of interest per   annum determined on the basis of the rate for deposits in Dollars for an Interest Period   equal to one month (commencing on the date of determination of such interest rate)   which appears on the Reuters Screen LIBOR01 Page (or any applicable successor page)   at approximately 11:00 a.m. (London time) on such date of determination, or, if such date   is not a Business Day, then the immediately preceding Business Day.  If, for any reason,   such rate does not appear on Reuters Screen LIBOR01 Page (or any applicable successor   page) then “LIBOR” for such Base Rate Loan shall be determined by the Administrative   Agent to be the arithmetic average of the rate per annum at which deposits in Dollars   would be offered by first class banks in the London interbank market to the   Administrative Agent at approximately 11:00 a.m. (London time) on such date of   determination for a period equal to one month commencing on such date of   determination.   Each calculation by the Administrative Agent of LIBOR shall be conclusive and binding for all   purposes, absent manifest error.   Notwithstanding the foregoing, if LIBOR shall be less than zero, such rate shall be deemed to be   zero for purposes of this Agreement.”    “LIBOR Rate” means a rate per annum determined by the Administrative Agent pursuant to the   following formula:   LIBOR Rate = LIBOR    1.00-Eurodollar Reserve Percentage      Notwithstanding the foregoing, if the LIBOR Rate shall be less than zero, such rate shall be   deemed to be zero for purposes of this Agreement.   “LIBOR Rate Loan” means any Loan bearing interest at a rate based upon the LIBOR Rate (or   CDOR in the case of Canadian Dollars) as provided in Section 5.1(a).   “License” has the meaning assigned thereto in Section 8.5(a).   “Lien” means, with respect to any asset, any mortgage, leasehold mortgage, lien, pledge, charge,   security interest, hypothecation or encumbrance of any kind in respect of such asset.  For the purposes of   this Agreement, a Person shall be deemed to own subject to a Lien any asset which it has acquired or   holds subject to the interest of a vendor or lessor under any conditional sale agreement, Capital Lease   Obligation or other title retention agreement relating to such asset.   “Loan Documents” means, collectively, this Agreement, each Note, the Letter of Credit   Applications, the Security Documents, the Subsidiary Guaranty Agreement, the Fee Letters, and each   other document, instrument, certificate and agreement executed and delivered by the Credit Parties or any   of their respective Subsidiaries in favor of or provided to the Administrative Agent or any Secured Party   in connection with this Agreement or otherwise referred to herein or contemplated hereby (excluding any   Secured Hedge Agreement and any Secured Cash Management Agreement).     

 

      - 20 -   “Loans” means the collective reference to the Revolving Credit Loans and the Swingline Loans,   and “Loan” means any of such Loans.   “London Banking Day” means any day on which dealings in Dollar deposits are conducted by   and between banks in the London interbank Eurodollar market.   “Material Adverse Effect” means, with respect to the US Borrower and its Subsidiaries, (a) a   material adverse effect on the operations, business, properties or condition (financial or otherwise) of such   Persons, taken as a whole, (b) a material impairment of the ability of the Credit Parties, taken as a whole,   to perform its obligations under the Loan Documents, (c) a material impairment of the rights and   remedies of the Administrative Agent or the Lenders under any Loan Document or (d) a material   impairment of the legality, validity, binding effect or enforceability against any Credit Party of any Loan   Document to which it is a party.   “Material Foreign Subsidiary” means Federal Signal VAMA, S.A. or any other Foreign   Subsidiary (x) having (A) assets in excess of 5% of the total assets of the US Borrower and its   Subsidiaries or (B) EBITDA in excess of 5% of EBITDA of the US Borrower and its Subsidiaries;   provided, that to the extent all of the Foreign Subsidiaries not then designated as Material Foreign   Subsidiaries pursuant to clauses (i) through (iv) above, shall have at any time in the aggregate (I) assets in   excess of 30% of the total assets of the US Borrower and its Subsidiaries or (II) EBITDA in excess of   30% of EBITDA of the US Borrower and its Subsidiaries, then the US Borrower shall immediately   designate as Material Foreign Subsidiaries such number of such Foreign Subsidiaries as necessary to   comply with the requirements of this proviso.  Notwithstanding anything to the contrary contained herein,   a Non-US Borrower shall be treated as a Material Foreign Subsidiary.   “Minimum Collateral Amount” means, at any time, (a) with respect to Cash Collateral consisting   of cash or deposit account balances, an amount equal to 102% of the sum of (i) the Fronting Exposure of   the Issuing Lender with respect to Letters of Credit issued and outstanding at such time and (ii) the   Fronting Exposure of the Swingline Lender with respect to all Swingline Loans outstanding at such time   and (b) otherwise, an amount determined by the Administrative Agent and each of the Issuing Lenders   that is entitled to Cash Collateral hereunder at such time in their sole discretion.   “Mortgage” means a certain Mortgage, Assignment of Leases and Rents, Security Agreement and   Fixture Filing dated as of April 23, 2013 encumbering the real property located in Streator, Illinois owned   by the US Borrower and executed by the US Borrower in favor of the Administrative Agent, for the   ratable benefit of the Secured Parties, as any such document may be amended, restated, supplemented or   otherwise modified from time to time.   “Multiemployer Plan” means a “multiemployer plan” as defined in Section 4001(a)(3) of ERISA   to which any Credit Party or any ERISA Affiliate is making, or is accruing an obligation to make, or has   accrued an obligation to make contributions within the preceding seven (7) years.   “Non-Consenting Lender” means any Lender that does not approve any consent, waiver,   amendment, modification or termination that (a) requires the approval of all Lenders or all affected   Lenders in accordance with the terms of Section 12.2 and (b) has been approved by the Required Lenders.   “Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting Lender at such   time.   “Non-Guarantor Subsidiary” means any Subsidiary of the US Borrower that is not a Subsidiary   Guarantor.     

 

      - 21 -   “Non-US Borrower” and “Non-US Borrowers” have the meanings set forth in the Preamble.   “Non-US Collateral” means any Collateral that is not US Collateral.   “Non-US Obligations” means the portion of the Secured Obligations evidenced by any Loan   made to, or for the benefit of, any Non-US Borrower, hereunder or under any other Loan Document and   any Secured Obligations relating thereto, together with any Secured Obligations of any Non-US Borrower   under any Secured Hedge Agreement or Secured Cash Management Agreement.   “Non-US Revolving Credit Note” means the promissory note with respect to each Alternative   Currency made by the applicable Non-US Borrower in favor of a Revolving Credit Lender evidencing the   Revolving Credit Loans made by such Revolving Credit Lender, substantially in the form attached as   Exhibit A-3, and any substitutes therefor, and any replacements, restatements, renewals or extension   thereof, in whole or in part.   “Notes” means the collective reference to the Revolving Credit Notes, the Non-US Revolving   Credit Notes and the Swingline Note.   “Notice of Account Designation” has the meaning assigned thereto in Section 2.3(b).   “Notice of Borrowing” has the meaning assigned thereto in Section 2.3(a).   “Notice of Conversion/Continuation” has the meaning assigned thereto in Section 5.2.   “Notice of Non-US Borrower”  means a Notice of Non-US Borrower and Assumption   Agreement, in substantially the form of Exhibit I hereto.   “Notice of Prepayment” has the meaning assigned thereto in Section 2.4(c).   “Obligations” means, in each case, whether now in existence or hereafter arising: (a) the principal   of and interest on (including interest accruing after the filing of any bankruptcy or similar petition) the   Loans, (b) the L/C Obligations and (c) all other fees and commissions (including attorneys’ fees), charges,   indebtedness, loans, liabilities, financial accommodations, obligations, covenants and duties owing by the   Credit Parties and each of their respective Subsidiaries to the Lenders, the Issuing Lender or the   Administrative Agent, in each case under any Loan Document, with respect to any Loan or Letter of   Credit of every kind, nature and description, direct or indirect, absolute or contingent, due or to become   due, contractual or tortious, liquidated or unliquidated, and whether or not evidenced by any note and   including interest and fees that accrue after the commencement by or against any Credit Party or any   Subsidiary thereof of any proceeding under any Debtor Relief Laws, naming such Person as the debtor in   such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding.   “OFAC” means the U.S. Department of the Treasury’s Office of Foreign Assets Control.   “Officer’s Compliance Certificate” means a certificate of the chief financial officer or the   treasurer of the US Borrower substantially in the form attached as Exhibit F.   “Operating Lease” means, as to any Person as determined in accordance with GAAP, any lease of   Property (whether real, personal or mixed) by such Person as lessee which is not a capital lease.   “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a   present or former connection between such Recipient and the jurisdiction imposing such Tax (other than     

 

      - 22 -   connections arising from such Recipient having executed, delivered, become a party to, performed its   obligations under, received payments under, received or perfected a security interest under, engaged in   any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any   Loan or Loan Document).   “Other Taxes” means all present or future stamp, court, documentary, intangible, recording, filing   or similar Taxes that arise from any payment made under, from the execution, delivery, performance,   enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise   with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed   with respect to an assignment (other than an assignment made pursuant to Section 5.12).   “Participant” has the meaning assigned thereto in Section 12.9(d).   “Participating Member State” means any member state of the European Union that has the Euro   as its lawful currency in accordance with legislation of the European Union relating to Economic and   Monetary Union.   “Participant Register” has the meaning assigned thereto in Section 12.9(d).   “PATRIOT Act” means the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law   October 26, 2001)).   “PBGC” means the Pension Benefit Guaranty Corporation or any successor agency.   “Pension Plan” means any Employee Benefit Plan, other than a Multiemployer Plan, which is   subject to the provisions of Title IV of ERISA or Section 412 of the Code and which (a) is maintained,   funded or administered for the employees of any Credit Party or any ERISA Affiliate or (b) has at any   time within the preceding seven (7) years been maintained, funded or administered for the employees of   any Credit Party or any current or former ERISA Affiliates.   “Permitted Acquisition” means any Acquisition that meets all of the following requirements:   (a) no less than three (3) Business Days prior to the proposed closing date of such   Acquisition, the US Borrower shall have delivered written notice of such Acquisition to   the Administrative Agent and the Lenders, which notice shall include the proposed   closing date of such Acquisition;   (b) that such Acquisition is not hostile;   (c) if such Acquisition is a merger or consolidation, any Borrower or a Subsidiary Guarantor   shall be the surviving Person and no Change in Control shall have been effected thereby;   (d) if either (x) the Permitted Acquisition Consideration for any such Acquisition exceeds   $80,000,000 or (y) Consolidated Total Leverage Ratio before and immediately after   giving pro forma effect to such Acquisition is greater than 2.00 to 1.00, no later than   three (3) Business Days prior to the proposed closing date of such Acquisition the US   Borrower, to the extent requested by the Administrative Agent, (i) shall have delivered to   the Administrative Agent the most current draft of the Permitted Acquisition Document,   which shall be in form and substance reasonably satisfactory to the Administrative Agent   and (ii) shall have delivered to, or made available for inspection by, the Administrative   Agent substantially complete Permitted Acquisition Diligence Information;      

 

      - 23 -   (e) no Default or Event of Default shall have occurred and be continuing both before and   immediately after giving effect to such Acquisition and any Indebtedness incurred in   connection therewith.   “Permitted Acquisition Consideration” means the aggregate amount of the purchase price,   including, but not limited to, any assumed debt, earn-outs (valued at the amount accounted for as a   liability on the financial statements pursuant to GAAP), deferred payments, or Capital Stock of the US   Borrower (net of the applicable acquired company’s cash and cash equivalents balance), to be paid on a   singular basis in connection with any applicable Permitted Acquisition as set forth in the applicable   Permitted Acquisition Documents executed by the US Borrower or any of its Subsidiaries in order to   consummate the applicable Permitted Acquisition.   “Permitted Acquisition Diligence Information” means with respect to any Acquisition proposed   by the US Borrower or any Subsidiary Guarantor, to the extent applicable, historical financial statements   and income tax returns for the most recent three year period and lien search results (except to the extent   that any such information is (a) subject to any confidentiality agreement, unless mutually agreeable   arrangements can be made to preserve such information as confidential, (b) classified or (c) subject to any   attorney-client privilege).   “Permitted Acquisition Documents” means with respect to any Acquisition proposed by any   Borrower or any Subsidiary Guarantor, the purchase agreement, sale agreement, merger agreement or   other agreement evidencing such Acquisition including disclosure schedules thereto, and any amendment,   modification or supplement to any of the foregoing.   “Permitted Liens” means the Liens permitted pursuant to Section 9.2.   “Person” means any natural person, corporation, limited liability company, trust, joint venture,   association, company, partnership, Governmental Authority or other entity.   “Platform” means Debt Domain, Intralinks, SyndTrak or a substantially similar electronic   transmission system.   “Prime Rate” means, at any time, the rate of interest per annum publicly announced from time to   time by the Administrative Agent as its prime rate.  Each change in the Prime Rate shall be effective as of   the opening of business on the day such change in such prime rate occurs.  The parties hereto   acknowledge that the rate announced publicly by the Administrative Agent as its prime rate is an index or   base rate and shall not necessarily be its lowest or best rate charged to its customers or other banks.   “Pro Forma Basis” means, for purposes of calculating Consolidated EBITDA for any period   during which one or more Specified Transactions occurs, that such Specified Transaction (and all other   Specified Transactions that have been consummated during the applicable period) shall be deemed to   have occurred as of the first day of the applicable period of measurement and all income statement items   (whether positive or negative) attributable to the Property or Person disposed of in an Asset Disposition   shall be excluded and all income statement items (whether positive or negative) attributable to the   Property or Person acquired in a Permitted Acquisition shall be included (provided that such income   statement items to be included are reflected in financial statements or other financial data reasonably   acceptable to the Administrative Agent and supported by a quality of earnings report issued by an   independent certified public accounting firm or a certified analysis of the chief financial officer of the US   Borrower, in either case, the results of which shall be reasonably satisfactory to the Administrative   Agent).     

 

      - 24 -   “Property” means any right or interest in or to property of any kind whatsoever, whether real,   personal or mixed and whether tangible or intangible, including, without limitation, Capital Stock.   “Qualified Capital Stock” means any Capital Stock that are not Disqualified Capital Stock.   “Rate Determination Date” means (i) the first day of such Interest Period with respect to LIBOR   Rate Loans denominated in Canadian Dollars and (ii) two (2) London Banking Days prior to the   commencement of such Interest Period with respect to LIBOR Rate Loans denominated in Dollars or   Euro (or such other day as is generally treated as the rate fixing day by market practice in such interbank   market, as determined by the Administrative Agent; provided that to the extent such market practice is not   administratively feasible for the Administrative Agent, such other day as otherwise reasonably   determined by the Administrative Agent).   “Recipient” means (a) the Administrative Agent, (b) any Lender and (c) any Issuing Lender, as   applicable.   “Register” has the meaning assigned thereto in Section 12.9(c).   “Reimbursement Obligation” means the obligation of the US Borrower to reimburse any Issuing   Lender pursuant to Section 3.5 for amounts drawn under Letters of Credit issued by such Issuing Lender.   “Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners,   directors, officers, employees, agents, trustees, administrators, managers, advisors and representatives of   such Person and of such Person’s Affiliates.   “Required Lenders” means, at any time, Lenders having Total Credit Exposures representing   more than fifty percent (50%) of the Total Credit Exposures of all Lenders.  The Total Credit Exposure of   any Defaulting Lender shall be disregarded in determining Required Lenders at any time.   “Responsible Officer” means, as to any Person, the chief executive officer, president, chief   financial officer, controller, treasurer or assistant treasurer of such Person or any other officer of such   Person designated in writing by the Borrower and reasonably acceptable to the Administrative Agent;   provided that, to the extent requested thereby, the Administrative Agent shall have received a certificate   of such Person certifying as to the incumbency and genuineness of the signature of each such officer.    Any document delivered hereunder or under any other Loan Document that is signed by a Responsible   Officer of a Person shall be conclusively presumed to have been authorized by all necessary corporate,   partnership and/or other action on the part of such Person and such Responsible Officer shall be   conclusively presumed to have acted on behalf of such Person.   “Restricted Payment” has the meaning assigned thereto in Section 9.6.   “Revaluation Date” means with respect to any Loan, each of the following:  (i) each date of a   Borrowing of a LIBOR Rate Loan denominated in an Alternative Currency, (ii) each date of a   continuation of a LIBOR Rate Loan denominated in an Alternative Currency pursuant to Section 5.2, and   (iii) such additional dates as the Administrative Agent shall determine or the Required Lenders shall   require.   “Revolving Credit Commitment” means (a) as to any Revolving Credit Lender, the obligation of   such Revolving Credit Lender to make Revolving Credit Loans to, and to purchase participations in L/C   Obligations and Swingline Loans for the account of, the US Borrower hereunder in an aggregate principal   amount at any time outstanding not to exceed the amount set forth opposite such Revolving Credit     

 

      - 25 -   Lender’s name on the Register, as such amount may be modified at any time or from time to time   pursuant to the terms hereof (including, without limitation, Section 5.13) and (b) as to all Revolving   Credit Lenders, the aggregate commitment of all Revolving Credit Lenders to make Revolving Credit   Loans, as such amount may be modified at any time or from time to time pursuant to the terms hereof   (including, without limitation, Section 5.13).  The aggregate Revolving Credit Commitment of all the   Revolving Credit Lenders on the Closing Date shall be $325,000,000.  The initial Revolving Credit   Commitment of each Revolving Credit Lender is set forth opposite the name of such Lender on   Schedule 1.1(b).   “Revolving Credit Commitment Percentage” means, with respect to any Revolving Credit Lender   at any time, the percentage of the total Revolving Credit Commitments of all the Revolving Credit   Lenders represented by such Revolving Credit Lender’s Revolving Credit Commitment.  If the Revolving   Credit Commitments have terminated or expired, the Revolving Credit Commitment Percentages shall be   determined based upon the Revolving Credit Commitments most recently in effect, giving effect to any   assignments.  The initial Revolving Credit Commitment Percentage of each Revolving Credit Lender is   set forth opposite the name of such Lender on Schedule 1.1(b).   “Revolving Credit Exposure” means, as to any Revolving Credit Lender at any time, the   aggregate principal amount at such time of its outstanding Revolving Credit Loans and such Revolving   Credit Lender’s participation in L/C Obligations and Swingline Loans at such time.   “Revolving Credit Facility” means the revolving credit facility established pursuant to Article II   (including any increase in such revolving credit facility established pursuant to Section 5.13).   “Revolving Credit Lenders” means, collectively, all of the Lenders with a Revolving Credit   Commitment.   “Revolving Credit Loan” means any revolving loan made to a Borrower pursuant to Section 2.1,   and all such revolving loans collectively as the context requires.   “Revolving Credit Maturity Date” means the earliest to occur of (a) January 27, 2021, (b) the date   of termination of the entire Revolving Credit Commitment by the Borrowers pursuant to Section 2.5, and   (c) the date of termination of the Revolving Credit Commitment pursuant to Section 10.2(a).   “Revolving Credit Note” means a promissory note made by the US Borrower in favor of a   Revolving Credit Lender evidencing the Revolving Credit Loans made by such Revolving Credit Lender,   substantially in the form attached as Exhibit A-1, and any substitutes therefor, and any replacements,   restatements, renewals or extension thereof, in whole or in part.   “Revolving Credit Outstandings” means the sum of (a) with respect to Revolving Credit Loans,   the Dollar Equivalent of the aggregate outstanding principal amount thereof after giving effect to any   borrowings and prepayments or repayments of Revolving Credit Loans, occurring on such date; plus   (b) with respect to Swingline Loans, on any date, the aggregate outstanding principal amount thereof in   Dollars after giving effect to any borrowings and prepayments or repayments of Swingline Loans,   occurring on such date plus (c) with respect to any L/C Obligations on any date, the aggregate outstanding   amount thereof in Dollars on such date after giving effect to any Extensions of Credit occurring on such   date and any other changes in the aggregate amount of the L/C Obligations as of such date, including as a   result of any reimbursements of outstanding unpaid drawings under any Letters of Credit or any   reductions in the maximum amount available for drawing under Letters of Credit taking effect on such   date.     

 

      - 26 -   “Revolving Extensions of Credit” means (a) any Revolving Credit Loan then outstanding, (b) any   Letter of Credit then outstanding or (c) any Swingline Loan then outstanding.   “Same Day Funds” means (a) with respect to disbursements and payments in Dollars,   immediately available funds, and (b) with respect to disbursements and payments in an Alternative   Currency, same day or other funds as may be determined by the Administrative Agent to be customary in   the place of disbursement or payment for the settlement of international banking transactions in the   relevant Alternative Currency.   “Sanctions” means economic or financial sanctions or trade embargoes imposed, administered or   enforced from time to time by the U.S. government (including those administered by OFAC), the United   Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions   authority.    “Sanctioned Country” means at any time, a country or territory which is itself the subject or target   of any Sanctions.   “Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list of   designated Persons maintained by OFAC, the U.S. Department of State, the United Nations Security   Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authority, (b) any   Person operating, organized or resident in a Sanctioned Country or (c) any Person more than 50% owned   or controlled by any such Person or Persons described in clauses (a) and (b).   “SEC” means the Securities and Exchange Commission, or any Governmental Authority   succeeding to any of its principal functions.   “Secured Cash Management Agreement” means any Cash Management Agreement between or   among any Credit Party and any Cash Management Bank.   “Secured Hedge Agreement” means any Hedge Agreement between or among any Credit Party   and any Hedge Bank.   “Secured Obligations” means, collectively, (a) the Obligations and (b) all existing or future   payment and other obligations owing by any Credit Party under (i) any Secured Hedge Agreement (other   than an Excluded Swap Obligation) and (ii) any Secured Cash Management Agreement.   “Secured Parties” means, collectively, the Administrative Agent, the Lenders (including   Designated Lenders), the Issuing Lenders, the Hedge Banks, the Cash Management Banks, each co-agent   or sub-agent appointed by the Administrative Agent from time to time pursuant to Section 11.5, any other   holder from time to time of any of any Secured Obligations and, in each case, their respective successors   and permitted assigns.   “Security Agreement” means the amended and restated security agreement of even date herewith   executed by the Credit Parties in favor of the Administrative Agent, for the ratable benefit of the Secured   Parties, which shall be in form and substance acceptable to the Administrative Agent, as amended,   restated, supplemented or otherwise modified from time to time.   “Security Documents” means the collective reference to the Security Agreement, the Mortgage,   and each other agreement or writing hereafter delivered to Administrative Agent pursuant to which any   Credit Party pledges or grants a security interest in any Property or assets securing the Secured   Obligations.     

 

      - 27 -   “Solvent” and “Solvency” mean, with respect to any Person on any date of determination, that on   such date (a) the fair value of the property of such Person is greater than the total amount of liabilities,   including contingent liabilities, of such Person, (b) the present fair salable value of the assets of such   Person is not less than the amount that will be required to pay the probable liability of such Person on its   debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that   it will, incur debts or liabilities beyond such Person’s ability to pay such debts and liabilities as they   mature, (d) such Person is not engaged in business or a transaction, and is not about to engage in business   or a transaction, for which such Person’s property would constitute an unreasonably small capital, and   (e) such Person is able to pay its debts and liabilities, contingent obligations and other commitments as   they mature in the ordinary course of business.  The amount of contingent liabilities at any time shall be   computed as the amount that, in the light of all the facts and circumstances existing at such time,   represents the amount that can reasonably be expected to become an actual or matured liability.   “Specified Transactions” means (a) any Asset Disposition, (b) any Permitted Acquisition and (c)   the Transactions.   “Spot Rate” for a currency means the rate determined by the Administrative Agent to be the rate   quoted by the Person acting in such capacity as the spot rate for the purchase by such Person of such   currency with another currency through its principal foreign exchange trading office at approximately   11:00 a.m. on the date two Business Days prior to the date as of which the foreign exchange computation   is made; provided that the Administrative Agent may obtain such spot rate from another financial   institution designated by the Administrative Agent if the Person acting in such capacity does not have as   of the date of determination a spot buying rate for any such currency.   “Subordinated Indebtedness” means the collective reference to any Indebtedness incurred by the   US Borrower or any of its Subsidiaries that is subordinated in right and time of payment to the   Obligations on terms and conditions satisfactory to the Administrative Agent.   “Subsidiary” means as to any Person, any corporation, partnership, limited liability company or   other entity of which more than fifty percent (50%) of the outstanding Capital Stock having ordinary   voting power to elect a majority of the board of directors (or equivalent governing body) or other   managers of such corporation, partnership, limited liability company or other entity is at the time owned   by (directly or indirectly) or the management is otherwise controlled by (directly or indirectly) such   Person (irrespective of whether, at the time, Capital Stock of any other class or classes of such   corporation, partnership, limited liability company or other entity shall have or might have voting power   by reason of the happening of any contingency).  Unless otherwise qualified, references to “Subsidiary”   or “Subsidiaries” herein shall refer to those of the Borrower.   “Subsidiary Guarantors” means, collectively, all direct and indirect Subsidiaries of the US   Borrower (other than (i) Foreign Subsidiaries to the extent that and for so long as the guaranty of such   Foreign Subsidiary would have adverse tax consequences for the US Borrower or any other Credit Party   or result in a violation of Applicable Laws and (ii) Domestic Subsidiaries that are nonoperating with   assets of less than $1,000,000 and nominal liabilities) in existence on the Closing Date or which becomes   a party to the Subsidiary Guaranty Agreement pursuant to Section 8.14.   “Subsidiary Guaranty Agreement” means the unconditional guaranty agreement of even date   herewith executed by the Subsidiary Guarantors in favor of the Administrative Agent, for the ratable   benefit and the Secured Parties, which shall be in form and substance acceptable to the Administrative   Agent.     

 

      - 28 -   “Swap Obligation” means, with respect to any Guarantor, any obligation to pay or perform under   any agreement, contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of   the Commodity Exchange Act.   “Sweep Arrangement” has the meaning assigned thereto in Section 2.2(a).   “Swingline Commitment” means the lesser of (a) $15,000,000 and (b) the Revolving Credit   Commitment.   “Swingline Facility” means the swingline facility established pursuant to Section 2.2.   “Swingline Lender” means Wells Fargo in its capacity as swingline lender hereunder or any   successor thereto.   “Swingline Loan” means any swingline loan made by the Swingline Lender to the US Borrower   pursuant to Section 2.2, and all such swingline loans collectively as the context requires.   “Swingline Note” means a promissory note made by the US Borrower in favor of the Swingline   Lender evidencing the Swingline Loans made by the Swingline Lender, substantially in the form attached   as Exhibit A-2, and any substitutes therefor, and any replacements, restatements, renewals or extension   thereof, in whole or in part.   “Synthetic Lease” means any synthetic lease, tax retention operating lease, off-balance sheet loan   or similar off-balance sheet financing product where such transaction is considered borrowed money   indebtedness for tax purposes but is classified as an Operating Lease in accordance with GAAP.   “TARGET2” means the Trans-European Automated Real-time Gross Settlement Express   Transfer payment system which utilizes a single shared platform and which was launched on November   19, 2007.   “TARGET Day” means any day on which TARGET2 (or, if such payment system ceases to be   operative, such other payment system, if any, determined by the Administrative Agent to be a suitable   replacement) is open for the settlement of payments in Euro.   “Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings   (including backup withholding), assessments, fees or other charges imposed by any Governmental   Authority, including any interest, fines, additions to tax or penalties applicable thereto.   “Termination Event” means the occurrence of any of the following which, individually or in the   aggregate, has resulted or could reasonably be expected to result in liability of the US Borrower in an   aggregate amount in excess of the Threshold Amount: (a) a “Reportable Event” described in Section 4043   of ERISA for which the thirty (30) day notice requirement has not been waived by the PBGC, or (b) the   withdrawal of any Credit Party or any ERISA Affiliate from a Pension Plan during a plan year in which it   was a “substantial employer” as defined in Section 4001(a)(2) of ERISA or a cessation of operations that   is treated as such a withdrawal under Section 4062(e) of ERISA, or (c) the termination of a Pension Plan,   the filing of a notice of intent to terminate a Pension Plan or the treatment of a Pension Plan amendment   as a termination, under Section 4041 of ERISA, if the plan assets are not sufficient to pay all plan   liabilities, or (d) the institution of proceedings to terminate, or the appointment of a trustee with respect   to, any Pension Plan by the PBGC, or (e) any other event or condition which would constitute grounds   under Section 4042(a) of ERISA for the termination of, or the appointment of a trustee to administer, any   Pension Plan, or (f) the imposition of a Lien pursuant to Section 430(k) of the Code or Section 303 of     

 

      - 29 -   ERISA, or (g) the determination that any Pension Plan or Multiemployer Plan is considered an at-risk   plan or plan in endangered or critical status with the meaning of Sections 430, 431 or 432 of the Code or   Sections 303, 304 or 305 of ERISA or (h) the partial or complete withdrawal of any Credit Party or any   ERISA Affiliate from a Multiemployer Plan if withdrawal liability is asserted by such plan, or (i) any   event or condition which results in the reorganization or insolvency of a Multiemployer Plan under   Sections 4241 or 4245 of ERISA, or (j) any event or condition which results in the termination of a   Multiemployer Plan under Section 4041A of ERISA or the institution by PBGC of proceedings to   terminate a Multiemployer Plan under Section 4042 of ERISA, or (k) the imposition of any liability under   Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA,   upon any Credit Party or any ERISA Affiliate.   “Threshold Amount” means $10,000,000.   “Total Credit Exposure” means, as to any Lender at any time, the unused Commitments and   Revolving Credit Exposure of such Lender at such time.   “Trade Date” has the meaning assigned thereto in Section 12.9(h)(i).   “Transaction Costs” means all transaction fees, charges and other amounts related to the   Transactions and any Permitted Acquisitions (including, without limitation, any financing fees, merger   and acquisition fees, legal fees and expenses, due diligence fees or any other fees and expenses in   connection therewith), in each case to the extent paid within six (6) months of the closing of the Credit   Facility or such Permitted Acquisition, as applicable, and approved by the Administrative Agent in its   reasonable discretion.   “Transactions” means, collectively, (a) the repayment in full of all Indebtedness outstanding   under the Existing Credit Agreement, (b) the initial Extensions of Credit and (c)  the payment of the   Transaction Costs incurred in connection with the foregoing.   “UCC” means the Uniform Commercial Code as in effect in the State of Illinois.   “Uniform Customs” means the Uniform Customs and Practice for Documentary Credits (2007   Revision), effective July, 2007 International Chamber of Commerce Publication No. 600.   “United States” means the United States of America.   “US Borrower” has the meaning in the Preamble.   “US Collateral” means Collateral granted by the US Borrower and the Subsidiary Guarantors   (excluding voting Capital Stock of a Foreign Subsidiary in excess of 65% of the outstanding voting   Capital Stock of such Foreign Subsidiary).   “US Obligations”: Secured Obligations other than Non-US Obligations.   “U.S. Person” means any Person that is a “United States person” as defined in   Section 7701(a)(30) of the Code.   “U.S. Tax Compliance Certificate” has the meaning assigned thereto in Section 5.11(g).   “Wells Fargo” means Wells Fargo Bank, National Association, a national banking association.     

 

      - 30 -   “Wholly-Owned” means, with respect to a Subsidiary, that all of the Capital Stock of such   Subsidiary are, directly or indirectly, owned or controlled by any Borrower and/or one or more of its   Wholly-Owned Subsidiaries (except for directors’ qualifying shares or other shares required by   Applicable Law to be owned by a Person other than such Borrower and/or one or more of its Wholly-   Owned Subsidiaries).   “Withholding Agent” means the Borrower and the Administrative Agent.   Section 1.2 Other Definitions and Provisions.  With reference to this Agreement and each   other Loan Document, unless otherwise specified herein or in such other Loan Document: (a) the   definitions of terms herein shall apply equally to the singular and plural forms of the terms defined,   (b) whenever the context may require, any pronoun shall include the corresponding masculine, feminine   and neuter forms, (c) the words “include”, “includes” and “including” shall be deemed to be followed by   the phrase “without limitation”, (d) the word “will” shall be construed to have the same meaning and   effect as the word “shall”, (e) any reference herein to any Person shall be construed to include such   Person’s successors and assigns, (f) the words “herein”, “hereof” and “hereunder”, and words of similar   import, shall be construed to refer to this Agreement in its entirety and not to any particular provision   hereof, (g) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to   Articles and Sections of, and Exhibits and Schedules to, this Agreement, (h) the words “asset” and   “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and   intangible assets and properties, including cash, securities, accounts and contract rights, (i) the term   “documents” includes any and all instruments, documents, agreements, certificates, notices, reports,   financial statements and other writings, however evidenced, whether in physical or electronic form and   (j) in the computation of periods of time from a specified date to a later specified date, the word “from”   means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word   “through” means “to and including”.   Section 1.3 Accounting Terms.   (a) All accounting terms not specifically or completely defined herein shall be   construed in conformity with, and all financial data (including financial ratios and other financial   calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with   GAAP, applied on a consistent basis, as in effect from time to time and in a manner consistent with that   used in preparing the audited financial statements required by Section 8.1(a), except as otherwise   specifically prescribed herein.  Notwithstanding the foregoing, for purposes of determining compliance   with any covenant (including the computation of any financial covenant) contained herein, Indebtedness   of the US Borrower and its Subsidiaries shall be deemed to be carried at 100% of the outstanding   principal amount thereof, and the effects of FASB ASC 825 and FASB ASC 470-20 on financial   liabilities shall be disregarded.   (b) If at any time any change in GAAP would affect the computation of any financial   ratio or requirement set forth in any Loan Document, and either the US Borrower or the Required Lenders   shall so request, the Administrative Agent, the Lenders and the US Borrower shall negotiate in good faith   to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP   (subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or   requirement shall continue to be computed in accordance with GAAP prior to such change therein and   (ii) the US Borrower shall provide to the Administrative Agent and the Lenders financial statements and   other documents required under this Agreement or as reasonably requested hereunder setting forth a   reconciliation between calculations of such ratio or requirement made before and after giving effect to   such change in GAAP.     

 

      - 31 -   Section 1.4 UCC Terms.  Terms defined in the UCC in effect on the Closing Date and not   otherwise defined herein shall, unless the context otherwise indicates, have the meanings provided by   those definitions.  Subject to the foregoing, the term “UCC” refers, as of any date of determination, to the   UCC then in effect.   Section 1.5 Rounding.  Any financial ratios required to be maintained pursuant to this   Agreement shall be calculated by dividing the appropriate component by the other component, carrying   the result to one place more than the number of places by which such ratio or percentage is expressed   herein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest   number).   Section 1.6 References to Agreement and Laws.  Unless otherwise expressly provided herein,   (a) any definition or reference to formation documents, governing documents, agreements (including the   Loan Documents) and other contractual documents or instruments shall be deemed to include all   subsequent amendments, restatements, extensions, supplements and other modifications thereto, but only   to the extent that such amendments, restatements, extensions, supplements and other modifications are not   prohibited by any Loan Document; and (b) any definition or reference to any Applicable Law, including,   without limitation, the Code, the Commodity Exchange Act, ERISA, the Exchange Act, the PATRIOT   Act, the Securities Act of 1933, the UCC, the Investment Company Act of 1940, the Interstate Commerce   Act, the Trading with the Enemy Act of the United States or any of the foreign assets control regulations   of the United States Treasury Department, shall include all statutory and regulatory provisions   consolidating, amending, replacing, supplementing or interpreting such Applicable Law.   Section 1.7 Times of Day.  Unless otherwise specified, all references herein to times of day   shall be references to Eastern time (daylight or standard, as applicable), except with respect to any   borrowings and payments in Euro, such references shall mean London, England time, unless otherwise   notified by the Administrative Agent.   Section 1.8 Letter of Credit Amounts.  Unless otherwise specified, all references herein to the   amount of a Letter of Credit at any time shall be deemed to mean the maximum face amount of such   Letter of Credit in Dollars after giving effect to all increases thereof contemplated by such Letter of   Credit or the Letter of Credit Application therefor (at the time specified therefor in such applicable Letter   of Credit or Letter of Credit Application and as such amount may be reduced by (a) any permanent   reduction of such Letter of Credit or (b) any amount in Dollars which is drawn, reimbursed and no longer   available under such Letter of Credit).   Section 1.9 Guarantees.  Unless otherwise specified, the amount of any Guarantee shall be   the lesser of the principal amount of the obligations guaranteed and still outstanding and the maximum   amount for which the guaranteeing Person may be liable pursuant to the terms of the instrument   embodying such Guarantee.   Section 1.10 Covenant Compliance Generally.  For purposes of determining compliance under   Sections 9.1, 9.2, 9.3, 9.5 and 9.6, any amount in a currency other than Dollars will be converted to   Dollars in a manner consistent with that used in calculating Consolidated Net Income in the most recent   annual financial statements of the US Borrower and its Subsidiaries delivered pursuant to Section 8.1(a).    Notwithstanding the foregoing, for purposes of determining compliance with Sections 9.1, 9.2 and 9.3,   with respect to any amount of Indebtedness or Investment in a currency other than Dollars, no breach of   any basket contained in such sections shall be deemed to have occurred solely as a result of changes in   rates of exchange occurring after the time such Indebtedness or Investment is incurred; provided that for   the avoidance of doubt, the foregoing provisions of this Section 1.10 shall otherwise apply to such     

 

      - 32 -   Sections, including with respect to determining whether any Indebtedness or Investment may be incurred   at any time under such Sections.   Section 1.11 Exchange Rates; Currency Equivalents.     (a) The Administrative Agent shall determine the Spot Rates as of each Revaluation Date to   be used for calculating Dollar Equivalent amounts of Credit Extensions and Outstanding Amounts   denominated in Alternative Currencies.  Such Spot Rates shall become effective as of such Revaluation   Date and shall be the Spot Rates employed in converting any amounts between the applicable currencies   until the next Revaluation Date to occur.  Except for purposes of financial statements delivered by Loan   Parties hereunder or calculating financial covenants hereunder or except as otherwise provided herein, the   applicable amount of any currency (other than Dollars) for purposes of the Loan Documents shall be such   Dollar Equivalent amount as so determined by the Administrative Agent.   (b) Wherever in this Agreement in connection with a Revolving Loan Commitment,   conversion, continuation or prepayment of a LIBOR Rate Loan, an amount, such as a required minimum   or multiple amount, is expressed in Dollars, but such Revolving Loan Commitment or Eurocurrency Rate   Loan is denominated in an Alternative Currency, such amount shall be the relevant Alternative Currency   Equivalent of such Dollar amount (rounded to the nearest unit of such Alternative Currency, with 0.5 of a   unit being rounded upward), as determined by the Administrative Agent or the applicable Issuing Lender,   as the case may be.   (c) The Administrative Agent does not warrant, nor accept responsibility, nor shall the   Administrative Agent have any liability with respect to the administration, submission or any other matter   related to the rates in the definition of “LIBOR Rate” or with respect to any comparable or successor rate   thereto.   Section 1.12 Change of Currency.  (a)  Each obligation of the Borrowers to make a payment   denominated in the national currency unit of any member state of the European Union that adopts the   Euro as its lawful currency after the date hereof shall be redenominated into Euro at the time of such   adoption.  If, in relation to the currency of any such member state, the basis of accrual of interest   expressed in this Agreement in respect of that currency shall be inconsistent with any convention or   practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such   expressed basis shall be replaced by such convention or practice with effect from the date on which such   member state adopts the Euro as its lawful currency; provided that if any Revolving Loan Commitment in   the currency of such member state is outstanding immediately prior to such date, such replacement shall   take effect, with respect to such Revolving Loan Commitment, at the end of the then current Interest   Period.    (b) Each provision of this Agreement shall be subject to such reasonable changes of   construction as the Administrative Agent may from time to time specify to be appropriate to reflect the   adoption of the Euro by any member state of the European Union and any relevant market conventions or   practices relating to the Euro.      ARTICLE II     REVOLVING CREDIT FACILITY   Section 2.1 Revolving Credit Loans.  Subject to the terms and conditions of this Agreement   and the other Loan Documents, and in reliance upon the representations and warranties set forth in this     

 

      - 33 -   Agreement and the other Loan Documents, each Revolving Credit Lender severally agrees to make   Revolving Credit Loans (i) in Dollars or in one or more Alternative Currencies to the US Borrower or (ii)   in one or more Alternative Currencies to the Non-US Borrowers, from time to time from the Closing Date   to, but not including, the Revolving Credit Maturity Date as requested by the US Borrower in accordance   with the terms of Section 2.3; provided, that (a)  the Revolving Credit Outstandings shall not exceed the   Revolving Credit Commitment, (b) the Revolving Credit Exposure of any Revolving Credit Lender shall   not at any time exceed such Revolving Credit Lender’s Revolving Credit Commitment, (c) the aggregate   Revolving Credit Outstandings denominated in Canadian Dollars shall not exceed the Alternative   Currency Sublimit applicable to Canadian Dollars and (d) the aggregate Revolving Credit Outstandings   denominated in Euros shall not exceed the Alternative Currency Sublimit applicable to Euros.  Each   Revolving Credit Loan by a Revolving Credit Lender shall be in a principal amount equal to such   Revolving Credit Lender’s Revolving Credit Commitment Percentage of the aggregate principal amount   of Revolving Credit Loans requested on such occasion.  Subject to the terms and conditions hereof, the   Borrowers may borrow, repay and reborrow Revolving Credit Loans hereunder until the Revolving Credit   Maturity Date.   Section 2.2 Swingline Loans.   (a) Availability.  Subject to the terms and conditions of this Agreement and the other   Loan Documents, including, without limitation, Section 6.2(e) of this Agreement, and in reliance upon the   representations and warranties set forth in this Agreement and the other Loan Documents, the Swingline   Lender may, in its sole discretion, make Swingline Loans in Dollars to the US Borrower from time to   time from the Closing Date to, but not including, the Revolving Credit Maturity Date; provided, that   (i) after giving effect to any amount requested, the Revolving Credit Outstandings shall not exceed the   Revolving Credit Commitment and (ii) the aggregate principal amount of all outstanding Swingline Loans   (after giving effect to any amount requested) shall not exceed the Swingline Commitment.    Notwithstanding any provision herein to the contrary, the Swingline Lender and the US Borrower may   agree that the Swingline Facility may be used to automatically draw and repay Swingline Loans (subject   to the limitations set forth herein) pursuant to cash management arrangements between the US Borrower   and the Swingline Lender (the “Sweep Arrangement”).   Principal and interest on Swingline Loans   deemed requested pursuant to the Sweep Arrangement shall be paid pursuant to the terms and conditions   agreed to between the US Borrower and the Swingline Lender (without any deduction, setoff or   counterclaim whatsoever).  The borrowing and disbursement provisions set forth in Section 2.3 and any   other provision hereof with respect to the timing or amount of payments on the Swingline Loans (other   than Section 2.4(a)) shall not be applicable to Swingline Loans made and prepaid pursuant to the Sweep   Arrangement.  Unless sooner paid pursuant to the provisions hereof or the provisions of the Sweep   Arrangement, the principal amount of the Swingline Loans shall be paid in full, together with accrued   interest thereon, on the Revolving Credit Maturity Date.   (b) Refunding.   (i) The Swingline Lender, at any time and from time to time in its sole and   absolute discretion may, on behalf of the US Borrower (which hereby irrevocably directs   the Swingline Lender to act on its behalf), by written notice given no later than 11:00   a.m. on any Business Day request each Revolving Credit Lender to make, and each   Revolving Credit Lender hereby agrees to make, a Revolving Credit Loan as a Base Rate   Loan in an amount equal to such Revolving Credit Lender’s Revolving Credit   Commitment Percentage of the aggregate amount of the Swingline Loans outstanding on   the date of such notice, to repay the Swingline Lender.  Each Revolving Credit Lender   shall make the amount of such Revolving Credit Loan available to the Administrative   Agent in immediately available funds at the Administrative Agent’s Office not later than     

 

      - 34 -   1:00 p.m. on the day specified in such notice.  The proceeds of such Revolving Credit   Loans shall be immediately made available by the Administrative Agent to the Swingline   Lender for application by the Swingline Lender to the repayment of the Swingline Loans.    No Revolving Credit Lender’s obligation to fund its respective Revolving Credit   Commitment Percentage of a Swingline Loan shall be affected by any other Revolving   Credit Lender’s failure to fund its Revolving Credit Commitment Percentage of a   Swingline Loan, nor shall any Revolving Credit Lender’s Revolving Credit Commitment   Percentage be increased as a result of any such failure of any other Revolving Credit   Lender to fund its Revolving Credit Commitment Percentage of a Swingline Loan.   (ii) The US Borrower shall pay to the Swingline Lender on demand in   immediately available funds the amount of such Swingline Loans to the extent amounts   received from the Revolving Credit Lenders are not sufficient to repay in full the   outstanding Swingline Loans requested or required to be refunded.  In addition, the US   Borrower irrevocably authorizes the Administrative Agent to charge any account   maintained by the US Borrower with the Swingline Lender (up to the amount available   therein) in order to immediately pay the Swingline Lender the amount of such Swingline   Loans to the extent amounts received from the Revolving Credit Lenders are not   sufficient to repay in full the outstanding Swingline Loans requested or required to be   refunded.  If any portion of any such amount paid to the Swingline Lender shall be   recovered by or on behalf of the US Borrower from the Swingline Lender in bankruptcy   or otherwise, the loss of the amount so recovered shall be ratably shared among all the   Revolving Credit Lenders in accordance with their respective Revolving Credit   Commitment Percentages.   (iii) If for any reason any Swingline Loan cannot be refinanced with a   Revolving Credit Loan pursuant to Section 2.2(b)(i), each Revolving Credit Lender shall,   on the date such Revolving Credit Loan was to have been made pursuant to the notice   referred to in Section 2.2(b)(i), purchase for cash an undivided participating interest in   the then outstanding Swingline Loans by paying to the Swingline Lender an amount (the   “Swingline Participation Amount”) equal to such Revolving Lender’s Revolving Credit   Commitment Percentage of the aggregate principal amount of Swingline Loans then   outstanding.  Each Revolving Credit Lender will immediately transfer to the Swingline   Lender, in immediately available funds, the amount of its Swingline Participation   Amount.  Whenever, at any time after the Swingline Lender has received from any   Revolving Credit Lender such Revolving Credit Lender’s Swingline Participation   Amount, the Swingline Lender receives any payment on account of the Swingline Loans,   the Swingline Lender will distribute to such Revolving Credit Lender its Swingline   Participation Amount (appropriately adjusted, in the case of interest payments, to reflect   the period of time during which such Lender’s participating interest was outstanding and   funded and, in the case of principal and interest payments, to reflect such Revolving   Credit Lender’s pro rata portion of such payment if such payment is not sufficient to pay   the principal of and interest on all Swingline Loans then due); provided that in the event   that such payment received by the Swingline Lender is required to be returned, such   Revolving Credit Lender will return to the Swingline Lender any portion thereof   previously distributed to it by the Swingline Lender.   (iv) Each Revolving Credit Lender’s obligation to make the Revolving Credit   Loans referred to in Section  2.2(b)(i) and to purchase participating interests pursuant to   Section 2.2(b)(iii) shall be absolute and unconditional and shall not be affected by any   circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right     

 

      - 35 -   that such Revolving Credit Lender or the US Borrower may have against the Swingline   Lender, the US Borrower or any other Person for any reason whatsoever, (B) the   occurrence or continuance of a Default or an Event of Default or the failure to satisfy any   of the other conditions specified in Article VI, (C) any adverse change in the condition   (financial or otherwise) of the US Borrower, (D) any breach of this Agreement or any   other Loan Document by the US Borrower, any other Credit Party or any other Revolving   Credit Lender or (E) any other circumstance, happening or event whatsoever, whether or   not similar to any of the foregoing.   (v) If any Revolving Credit Lender fails to make available to the   Administrative Agent for the account of the Swingline Lender any amount required to be   paid by such Revolving Credit Lender pursuant to the foregoing provisions of this   Section 2.04(c) by the time specified in Section 2.04(c)(i), the Swingline Lender shall be   entitled to recover from such Revolving Credit Lender (acting through the Administrative   Agent), on demand, such amount with interest thereon for the period from the date such   payment is required to the date on which such payment is immediately available to the   Swingline Lender at a rate per annum equal to the applicable Federal  Funds Rate, plus   any administrative, processing or similar fees customarily charged by the Swingline   Lender in connection with the foregoing.  If such Revolving Credit Lender pays such   amount (with interest and fees as aforesaid), the amount so paid shall constitute such   Revolving Credit Lender’s Revolving Credit Loan or Swingline Participation Amount, as   the case may be.  A certificate of the Swingline Lender submitted to any Revolving   Credit Lender (through the Administrative Agent) with respect to any amounts owing   under this clause (iii) shall be conclusive absent manifest error.   (c) Defaulting Lenders.  Notwithstanding anything to the contrary contained in this   Agreement, this Section 2.2 shall be subject to the terms and conditions of Section 5.14 and Section 5.15.   Section 2.3 Procedure for Advances of Revolving Credit Loans and Swingline Loans.   (a) Requests for Borrowing.  The US Borrower shall give the Administrative Agent   irrevocable prior written notice substantially in the form of Exhibit B (a “Notice of Borrowing”) not later   than 11:00 a.m. (i) on the same Business Day as each Base Rate Loan and each Swingline Loan, (ii) at   least three (3) Business Days before each LIBOR Rate Loan denominated in Dollars and (iii) at least three   (3) Business Days before each LIBOR Rate Loan denominated in Alternative Currencies of its intention   to borrow, specifying (A) the date of such borrowing, which shall be a Business Day, (B) the name of the   Borrower, (C) the amount of such borrowing, which shall be, (x) with respect to Base Rate Loans (other   than Swingline Loans) in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000   in excess thereof and the currency of the LIBOR Rate Loans to be borrowed, (y) with respect to LIBOR   Rate Loans in an aggregate principal amount of the Dollar Equivalent of  $5,000,000 or a whole multiple   of the Dollar Equivalent of $1,000,000 in excess thereof and (z) with respect to Swingline Loans in an   aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof, (D) whether   such Loan is to be a Revolving Credit Loan or Swingline Loan, (E) in the case of a Revolving Credit   Loan to be made in Dollars  whether the Loans are to be LIBOR Rate Loans or Base Rate Loans, (F) in   the case of a Revolving Credit Loan which is a LIBOR Rate Loan, the currency to be borrowed and (G) in   the case of a LIBOR Rate Loan, the duration of the Interest Period applicable thereto; provided that if the   US Borrower wishes to request LIBOR Rate Loans having an Interest Period of twelve months in   duration, such notice must be received by the Administrative Agent not later than 11:00 a.m. three (3)   Business Days prior to the requested date of such borrowing, whereupon the Administrative Agent shall   give prompt notice to the Revolving Credit Lenders of such request and determine whether the requested   Interest Period is acceptable to all of them.  If the US Borrower fails to specify a type of Loan in a Notice     

 

      - 36 -   of Borrowing, then the applicable Loans shall be made as Base Rate Loans; provided, however, that in the   case of a failure to timely request a continuation of an Interest Period with respect to a Loan denominated   in an Alternative Currency such Loans shall be continued with an Interest Period of one month.  If the US   Borrower fails to specify a currency in a Notice of Borrowing then the LIBOR Rate Loan so requested   shall be made in Dollars.  If the US Borrower requests a Borrowing of LIBOR Rate Loans in any such   Notice of Borrowing, but fails to specify an Interest Period, it will be deemed to have specified an Interest   Period of one month.  A Notice of Borrowing received after 11:00 a.m. shall be deemed received on the   next Business Day.  The Administrative Agent shall promptly notify the Revolving Credit Lenders of   each Notice of Borrowing.  Except as otherwise provided herein, no Loan may be converted into or   continued as a Loan denominated in a different currency.   (b) Disbursement of Revolving Credit and Swingline Loans.  Following receipt of a   Notice of Borrowing, the Administrative Agent shall promptly notify each Lender of the amount (and   currency) of its Revolving Credit Commitment Percentage of the Revolving Credit Loans, and if no   timely notice of a conversion or continuation is provided by the US Borrower, the Administrative Agent   shall notify each Lender of the details of any automatic conversion to Base Rate Loans or the continuation   of Loans denominated in an Alternative Currency, in each case as described in the preceding subsection.    Not later than 1:00 p.m. on the proposed borrowing date, and not later than the Applicable Time specified   by the Administrative Agent in the case of any Revolving Credit Loan in an Alternative Currency,   (i) each Revolving Credit Lender will make available to the Administrative Agent, for the account of the   US Borrower, at the office of the Administrative Agent in funds immediately available to the   Administrative Agent, such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the   Revolving Credit Loans denominated in Dollars or the Alternative Currency to be made on such   borrowing date and (ii) the Swingline Lender will make available to the Administrative Agent, for the   account of the US Borrower, at the office of the Administrative Agent in funds denominated in Dollars   immediately available to the Administrative Agent, the Swingline Loans to be made on such borrowing   date.  The US Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds   of each borrowing requested pursuant to this Section in immediately available funds by crediting or   wiring such proceeds to the deposit account of the US Borrower identified in the most recent notice   substantially in the form attached as Exhibit C (a “Notice of Account Designation”) delivered by the US   Borrower to the Administrative Agent or as may be otherwise agreed upon by the US Borrower and the   Administrative Agent from time to time.  Subject to Section 5.7 hereof, the Administrative Agent shall   not be obligated to disburse the portion of the proceeds of any Revolving Credit Loan requested pursuant   to this Section to the extent that any Revolving Credit Lender has not made available to the   Administrative Agent its Revolving Credit Commitment Percentage of such Loan.  Revolving Credit   Loans to be made for the purpose of refunding Swingline Loans shall be made by the Revolving Credit   Lenders as provided in Section 2.2(b).   Section 2.4 Repayment and Prepayment of Revolving Credit and Swingline Loans.   (a) Repayment on Termination Date.  The US Borrower hereby agrees to repay the   outstanding principal amount of all (i) Revolving Credit Loans in full on the Revolving Credit Maturity   Date and (ii) all Swingline Loans in accordance with Section 2.2(b) (but, in any event, no later than the   Revolving Credit Maturity Date), together, in each case, with all accrued but unpaid interest thereon.    Each Non US Borrower hereby agrees to repay the outstanding principal amount of Non-US Revolving   Credit Loans borrowed by such Non US Borrower on the Revolving Credit Maturity Date, together, in   each case, with all accrued but unpaid interest thereon.   (b) Mandatory Prepayments.  If at any time the Revolving Credit Outstandings   exceed the Revolving Credit Commitment, the US Borrower agrees to repay immediately upon notice   from the Administrative Agent, by payment to the Administrative Agent for the account of the Revolving     

 

      - 37 -   Credit Lenders, Extensions of Credit in an amount equal to such excess with each such repayment applied   first, to the principal amount of outstanding Swingline Loans, second to the principal amount of   outstanding Revolving Credit Loans and third, with respect to any Letters of Credit then outstanding, a   payment of Cash Collateral into a Cash Collateral account opened by the Administrative Agent, for the   benefit of the Revolving Credit Lenders, in an amount equal to such excess (such Cash Collateral to be   applied in accordance with Section 10.2(b)).  If the Administrative Agent notifies the US Borrower at any   time that the Outstanding Amount of all Loans denominated in Alternative Currencies at such time   exceeds an amount equal to 105%  of the Alternative Currency Sublimit then in effect, then, within two   Business Days after receipt of such notice, the US Borrower or the Non-US Borrowers solely as to their   Non-US Obligations, as applicable, shall prepay Loans in an aggregate amount sufficient to reduce such   Outstanding Amount as of such date of payment to an amount not to exceed 100% of the Alternative   Currency Sublimit then in effect.   (c) Optional Prepayments.  The Borrowers may at any time and from time to time   prepay Revolving Credit Loans and Swingline Loans, in whole or in part, with irrevocable prior written   notice to the Administrative Agent substantially in the form attached as Exhibit D (a “Notice of   Prepayment”) given not later than 11:00 a.m. (i) on the same Business Day of the intended prepayment of   each Base Rate Loan and each Swingline Loan, (ii) at least three (3) Business Days before the intended   prepayment of each LIBOR Rate Loan denominated in Dollars and (iii) three (3) Business Days before   the intended prepayment of each LIBOR Rate Loan denominated in Alternative Currencies, specifying   the date and amount of prepayment and whether the prepayment is of LIBOR Rate Loans, Base Rate   Loans, Swingline Loans or a combination thereof, and, if of a combination thereof, the amount allocable   to each.  Upon receipt of such notice, the Administrative Agent shall promptly notify each Revolving   Credit Lender.  If any such notice is given, the amount specified in such notice shall be due and payable   on the date set forth in such notice.  Partial prepayments shall be in an aggregate amount of $3,000,000 or   a whole multiple of $1,000,000 in excess thereof with respect to Base Rate Loans (other than Swingline   Loans), $5,000,000 or a whole multiple of $1,000,000 in excess thereof with respect to LIBOR Rate   Loans (whether denominated in Dollars or Alternative Currencies) and $500,000 or a whole multiple of   $100,000 in excess thereof with respect to Swingline Loans.  A Notice of Prepayment received after   11:00 a.m. shall be deemed received on the next Business Day.  Each such repayment shall be   accompanied by any amount required to be paid pursuant to Section 5.9 hereof.  Notwithstanding the   foregoing, any Notice of a Prepayment delivered in connection with any refinancing of all of the Credit   Facility with the proceeds of such refinancing or of any incurrence of Indebtedness, may be, if expressly   so stated to be, contingent upon the consummation of such refinancing or incurrence and may be revoked   by the Borrowers in the event such refinancing is not consummated (provided that the failure of such   contingency shall not relieve the Borrowers from their obligations in respect thereof under Section 5.9).   (d) Limitation on Prepayment of LIBOR Rate Loans.  The Borrowers may not   prepay any LIBOR Rate Loan on any day other than on the last day of the Interest Period applicable   thereto unless such prepayment is accompanied by any amount required to be paid pursuant to Section 5.9   hereof.   (e) Hedge Agreements.  No repayment or prepayment of the Loans pursuant to this   Section shall affect any of the Borrowers’ obligations under any Hedge Agreement entered into with   respect to the Loans.   Section 2.5 Reserved.   Section 2.6 Termination of Revolving Credit Facility.  The Revolving Credit Facility and the   Revolving Credit Commitments shall terminate on the Revolving Credit Maturity Date.     

 

      - 38 -   ARTICLE III     LETTER OF CREDIT FACILITY   Section 3.1 L/C Facility.   (a) Availability.  Subject to the terms and conditions hereof, each Issuing Lender, in   reliance on the agreements of the Revolving Credit Lenders set forth in Section 3.4(a), agrees to issue   standby or commercial Letters of Credit in an aggregate amount in Dollars not to exceed its L/C   Commitment for the account of the US Borrower or, subject to Section 3.10, any Subsidiary thereof.    Letters of Credit may be issued on any Business Day from the Closing Date to, but not including the fifth   (5th) Business Day prior to the Revolving Credit Maturity Date in such form as may be approved from   time to time by the applicable Issuing Lender; provided, that no Issuing Lender shall issue any Letter of   Credit if, after giving effect to such issuance, (a) the L/C Obligations would exceed the L/C Sublimit, (b)   the L/C Obligations would exceed the Issuing Lender Sublimit with respect to each Issuing Lender or (c)   the Revolving Credit Outstandings would exceed the Revolving Credit Commitment.  Each Letter of   Credit shall (i) expire on a date no more than twelve (12) months after the date of issuance or last renewal   of such Letter of Credit (subject to automatic renewal for additional one (1) year periods pursuant to the   terms of the Letter of Credit Application or other documentation acceptable to the applicable Issuing   Lender), which date shall be no later than the fifth (5th) Business Day prior to the Revolving Credit   Maturity Date and (ii) be subject to the Uniform Customs, in the case of a commercial Letter of Credit, or   ISP98, in the case of a standby Letter of Credit, in each case as set forth in the Letter of Credit   Application or as determined by the applicable Issuing Lender and, to the extent not inconsistent   therewith, the laws of the State of Illinois.  No Issuing Lender shall at any time be obligated to issue any   Letter of Credit hereunder if (A) any order, judgment or decree of any Governmental Authority or   arbitrator shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Letter of   Credit, or any Applicable Law applicable to such Issuing Lender or (B) any request or directive (whether   or not having the force of law) from any Governmental Authority with jurisdiction over such Issuing   Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit   generally or such Letter of Credit in particular or shall impose upon such Issuing Lender with respect to   letters of credit generally or such Letter of Credit in particular any restriction or reserve or capital   requirement (for which such Issuing Lender is not otherwise compensated) not in effect on the Closing   Date, or any unreimbursed loss, cost or expense that was not applicable, in effect or known to such   Issuing Lender as of the Closing Date and that such Issuing Lender in good faith deems material to it, or   (C) the conditions set forth in Section 6.2 are not satisfied.  References herein to “issue” and derivations   thereof with respect to Letters of Credit shall also include extensions or modifications of any outstanding   Letters of Credit, unless the context otherwise requires.  As of the Closing Date, each of the Existing   Letters of Credit shall constitute, for all purposes of this Agreement and the other Loan Documents, a   Letter of Credit issued and outstanding hereunder.   (b) Defaulting Lenders.  Notwithstanding anything to the contrary contained in this   Agreement, Article III shall be subject to the terms and conditions of Section 5.14 and Section 5.15.   Section 3.2 Procedure for Issuance of Letters of Credit.  The US Borrower may from time to   time request that any Issuing Lender issue a Letter of Credit by delivering to such Issuing Lender at its   applicable office (with a copy to the Administrative Agent at the Administrative Agent’s Office) a Letter   of Credit Application therefor, completed to the satisfaction of such Issuing Lender, and such other   certificates, documents and other papers and information as such Issuing Lender or the Administrative   Agent may request.  Upon receipt of any Letter of Credit Application, the applicable Issuing Lender shall,   process such Letter of Credit Application and the certificates, documents and other papers and   information delivered to it in connection therewith in accordance with its customary procedures and shall,   subject to Section 3.1 and Article VI, promptly issue the Letter of Credit requested thereby (but in no     

 

      - 39 -   event shall such Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business   Days after its receipt of the Letter of Credit Application therefor and all such other certificates, documents   and other papers and information relating thereto) by issuing the original of such Letter of Credit to the   beneficiary thereof or as otherwise may be agreed by such Issuing Lender and the US Borrower.  The   applicable Issuing Lender shall promptly furnish to the US Borrower and the Administrative Agent a   copy of such Letter of Credit and the Administrative Agent shall promptly notify each Revolving Credit   Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy   of such Letter of Credit and the amount of such Revolving Credit Lender’s participation therein.   Section 3.3 Commissions and Other Charges.   (a) Letter of Credit Commissions.  Subject to Section 5.15(a)(iii)(B), the US   Borrower shall pay to the Administrative Agent, for the account of the applicable Issuing Lender and the   L/C Participants, a letter of credit commission with respect to each Letter of Credit in the amount equal to   (i) in the case of commercial Letters of Credit, the daily amount available to be drawn under such   commercial Letters of Credit times the Applicable Margin with respect to Revolving Credit Loans that are   LIBOR Rate Loans and (ii) in the case of standby Letters of Credit, the daily amount available to be   drawn under such standby Letters of Credit times the Applicable Margin with respect to Revolving Credit   Loans that are LIBOR Rate Loans (determined, in each case, on a per annum basis).  Such commission   shall be payable quarterly in arrears on the last Business Day of each calendar quarter, on the Revolving   Credit Maturity Date and thereafter on demand of the Administrative Agent.  The Administrative Agent   shall, promptly following its receipt thereof, distribute to the applicable Issuing Lender and the L/C   Participants all commissions received pursuant to this Section 3.3 in accordance with their respective   Revolving Credit Commitment Percentages.   (b) Issuance Fee.  In addition to the foregoing commission, the US Borrower shall   pay directly to the applicable Issuing Lender, for its own account, an issuance fee with respect to each   Letter of Credit issued by such Issuing Lender as set forth in the Fee Letters executed by such Issuing   Lender.  Such issuance fee shall be payable quarterly in arrears on the last Business Day of each calendar   quarter commencing with the first such date to occur after the issuance of such Letter of Credit, on the   Revolving Credit Maturity Date and thereafter on demand of the applicable Issuing Lender.   (c) Other Fees, Costs, Charges and Expenses.  In addition to the foregoing fees and   commissions, the US Borrower shall pay or reimburse each Issuing Lender for such normal and   customary fees, costs, charges and expenses as are incurred or charged by such Issuing Lender in issuing,   effecting payment under, amending or otherwise administering any Letter of Credit issued by it.   Section 3.4 L/C Participations.   (a) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C   Participant, and, to induce each Issuing Lender to issue Letters of Credit hereunder, each L/C Participant   irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on   the terms and conditions hereinafter stated, for such L/C Participant’s own account and risk an undivided   interest equal to such L/C Participant’s Revolving Credit Commitment Percentage in each Issuing   Lender’s obligations and rights under and in respect of each Letter of Credit issued by it hereunder and   the amount of each draft paid by such Issuing Lender thereunder.  Each L/C Participant unconditionally   and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit issued   by such Issuing Lender for which such Issuing Lender is not reimbursed in full by the US Borrower   through a Revolving Credit Loan or otherwise in accordance with the terms of this Agreement, such L/C   Participant shall pay to such Issuing Lender upon demand at such Issuing Lender’s address for notices     

 

      - 40 -   specified herein an amount equal to such L/C Participant’s Revolving Credit Commitment Percentage of   the amount of such draft, or any part thereof, which is not so reimbursed.   (b) Upon becoming aware of any amount required to be paid by any L/C Participant   to any Issuing Lender pursuant to Section 3.4(a) in respect of any unreimbursed portion of any payment   made by such Issuing Lender under any Letter of Credit, issued by it, such Issuing Lender shall notify the   Administrative Agent of such unreimbursed amount and the Administrative Agent shall notify each L/C   Participant (with a copy to the applicable Issuing Lender) of the amount and due date of such required   payment and such L/C Participant shall pay to the Administrative Agent in Dollars (which, in turn shall   pay such Issuing Lender) the amount specified on the applicable due date.  If any such amount is paid to   such Issuing Lender after the date such payment is due, such L/C Participant shall pay to such Issuing   Lender on demand, in addition to such amount, the product of (i) such amount, times (ii) the daily average   Federal Funds Rate as determined by the Administrative Agent during the period from and including the   date such payment is due to the date on which such payment is immediately available to such Issuing   Lender, times (iii) a fraction the numerator of which is the number of days that elapse during such period   and the denominator of which is 360.  A certificate of such Issuing Lender with respect to any amounts   owing under this Section shall be conclusive in the absence of manifest error.  With respect to payment to   such Issuing Lender of the unreimbursed amounts described in this Section, if the L/C Participants receive   notice that any such payment is due (A) prior to 1:00 p.m. on any Business Day, such payment shall be   due that Business Day, and (B) after 1:00 p.m. on any Business Day, such payment shall be due on the   following Business Day.   (c) Whenever, at any time after any Issuing Lender has made payment under any   Letter of Credit issued by it and has received from any L/C Participant its Revolving Credit Commitment   Percentage of such payment in accordance with this Section, such Issuing Lender receives any payment   related to such Letter of Credit (whether directly from the US Borrower or otherwise), or any payment of   interest on account thereof, such Issuing Lender will distribute to such L/C Participant its pro rata share   thereof; provided, that in the event that any such payment received by such Issuing Lender shall be   required to be returned by such Issuing Lender, such L/C Participant shall return to such Issuing Lender   the portion thereof previously distributed by such Issuing Lender to it.   (d) Each L/C Participant’s obligation to make the Revolving Credit Loans referred to   in Section  3.4(b) and to purchase participating interests pursuant to Section 3.4(a) shall be absolute and   unconditional and shall not be affected by any circumstance, including (i) any setoff, counterclaim,   recoupment, defense or other right that such Revolving Credit Lender or the US Borrower may have   against the Issuing Lender or any other Person for any reason whatsoever, (ii) the occurrence or   continuance of a Default or an Event of Default or the failure to satisfy any of the other conditions   specified in Article VI, (iii) any adverse change in the condition (financial or otherwise) of the US   Borrower, (iv) any breach of this Agreement or any other Loan Document by the US Borrower, any other   Credit Party or any other Revolving Credit Lender or (v) any other circumstance, happening or event   whatsoever, whether or not similar to any of the foregoing.   Section 3.5 Reimbursement Obligation of the US Borrower.  In the event of any drawing   under any Letter of Credit, the US Borrower agrees to reimburse (either with the proceeds of a Revolving   Credit Loan as provided for in this Section or with funds from other sources), in same day funds, the   applicable Issuing Lender on each date on which such Issuing Lender notifies the US Borrower of the   date and amount of a draft paid by it under any Letter of Credit for the amount of (a) such draft so paid   and (b) any amounts referred to in Section 3.3(c) incurred by such Issuing Lender in connection with such   payment.  Unless the US Borrower shall immediately notify such Issuing Lender that the US Borrower   intends to reimburse such Issuing Lender for such drawing from other sources or funds, the US Borrower   shall be deemed to have timely given a Notice of Borrowing to the Administrative Agent requesting that     

 

      - 41 -   the Revolving Credit Lenders make a Revolving Credit Loan as a Base Rate Loan on the applicable   repayment date in the amount of (i) such draft so paid and (ii) any amounts referred to in Section 3.3(c)   incurred by such Issuing Lender in connection with such payment, and the Revolving Credit Lenders shall   make a Revolving Credit Loan as a Base Rate Loan in such amount, the proceeds of which shall be   applied to reimburse such Issuing Lender for the amount of the related drawing and such fees and   expenses.  Each Revolving Credit Lender acknowledges and agrees that its obligation to fund a Revolving   Credit Loan in accordance with this Section to reimburse such Issuing Lender for any draft paid under a   Letter of Credit issued by it is absolute and unconditional and shall not be affected by any circumstance   whatsoever, including, without limitation, non-satisfaction of the conditions set forth in Section 2.3(a) or   Article VI.  If the US Borrower has elected to pay the amount of such drawing with funds from other   sources and shall fail to reimburse such Issuing Lender as provided above, or if the amount of such   drawing is not fully refunded through a Base Rate Loan as provided above, the unreimbursed amount of   such drawing shall bear interest at the rate which would be payable on any outstanding Base Rate Loans   which were then overdue from the date such amounts become payable (whether at stated maturity, by   acceleration or otherwise) until payment in full.   Section 3.6 Obligations Absolute.  The US Borrower’s obligations under this Article III   (including, without limitation, the Reimbursement Obligation) shall be absolute and unconditional under   any and all circumstances and irrespective of any set off, counterclaim or defense to payment which the   US Borrower may have or have had against the Issuing Lender or any beneficiary of a Letter of Credit or   any other Person.  The US Borrower also agrees that the Issuing Lender and the L/C Participants shall not   be responsible for, and the US Borrower’s Reimbursement Obligation under Section 3.5 shall not be   affected by, among other things, the validity or genuineness of documents or of any endorsements   thereon, even though such documents shall in fact prove to be invalid, fraudulent or forged, or any dispute   between or among the Borrower and any beneficiary of any Letter of Credit or any other party to which   such Letter of Credit may be transferred or any claims whatsoever of the US Borrower against any   beneficiary of such Letter of Credit or any such transferee.  No Issuing Lender shall be liable for any   error, omission, interruption or delay in transmission, dispatch or delivery of any message or advice,   however transmitted, in connection with any Letter of Credit issued by it, except for errors or omissions   caused by such Issuing Lender’s gross negligence or willful misconduct, as determined by a court of   competent jurisdiction by final nonappealable judgment.  The US Borrower agrees that any action taken   or omitted by any Issuing Lender under or in connection with any Letter of Credit issued by it or the   related drafts or documents, if done in the absence of gross negligence or willful misconduct shall be   binding on the US Borrower and shall not result in any liability of such Issuing Lender or any L/C   Participant to the US Borrower.  The responsibility of any Issuing Lender to the US Borrower in   connection with any draft presented for payment under any Letter of Credit issued to it shall, in addition   to any payment obligation expressly provided for in such Letter of Credit, be limited to determining that   the documents (including each draft) delivered under such Letter of Credit in connection with such   presentment substantially conforms to the requirements under such Letter of Credit.   Section 3.7 Effect of Letter of Credit Application.  To the extent that any provision of any   Letter of Credit Application related to any Letter of Credit is inconsistent with the provisions of this   Article III, the provisions of this Article III shall apply.   Section 3.8 Resignation of Issuing Lenders.     (a) Any Lender may at any time resign from its role as an Issuing Lender hereunder   upon not less than thirty (30) days prior notice to the US Borrower and the Administrative Agent (or such   shorter period of time as may be acceptable to the US Borrower and the Administrative Agent).     

 

      - 42 -   (b) Any resigning Issuing Lender shall retain all the rights, powers, privileges and   duties of an Issuing Lender hereunder with respect to all Letters of Credit issued by it that are outstanding   as of the effective date of its resignation as an Issuing Lender and all L/C Obligations with respect thereto   (including, without limitation, the right to require the Revolving Credit Lenders to take such actions as are   required under Section 3.4).  Without limiting the foregoing, upon the resignation of a Lender as an   Issuing Lender hereunder, the US Borrower may, or at the request of such resigned Issuing Lender the US   Borrower shall, use commercially reasonable efforts to, arrange for one or more of the other Issuing   Lenders to issue Letters of Credit hereunder in substitution for the Letters of Credit, if any, issued by such   resigned Issuing Lender and outstanding at the time of such resignation, or make other arrangements   satisfactory to the resigned Issuing Lender to effectively cause another Issuing Lender to assume the   obligations of the resigned Issuing Lender with respect to any such Letters of Credit.    Section 3.9 Reporting of Letter of Credit Information and L/C Commitment.  At any time   that there is an Issuing Lender that is not also the financial institution acting as Administrative Agent,   then (a) on the last Business Day of each calendar month, (b) on each date that a Letter of Credit is   amended, terminated or otherwise expires, (c) on each date that a Letter of Credit is issued or the expiry   date of a Letter of Credit is extended, and (d) upon the request of the Administrative Agent, each Issuing   Lender (or, in the case of clauses (b), (c) or (d) of this Section, the Issuing Lender) shall deliver to the   Administrative Agent a report setting forth in form and detail reasonably satisfactory to the   Administrative Agent information (including, without limitation, any reimbursement, Cash Collateral, or   termination in respect of Letters of Credit issued by such Issuing Lender) with respect to each Letter of   Credit issued by such Issuing Lender that is outstanding hereunder.  In addition, each Issuing Lender shall   provide notice to the Administrative Agent of its L/C Commitment, or any change thereto, promptly upon   it becoming an Issuing Lender or making any change to its L/C Commitment.  No failure on the part of   any Issuing Lender to provide such information pursuant to this Section 3.9 shall limit the obligations of   the US Borrower or any Revolving Credit Lender hereunder with respect to its reimbursement and   participation obligations hereunder.   Section 3.10 Letters of Credit Issued for Subsidiaries.  Notwithstanding that a Letter of   Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a   Domestic Subsidiary, the Borrower shall be obligated to reimburse, or to cause the applicable Subsidiary   to reimburse, the Issuing Lender hereunder for any and all drawings under such Letter of Credit.  The US   Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its   Subsidiaries inures to the benefit of the US Borrower and that the US Borrower’s business derives   substantial benefits from the businesses of such Subsidiaries.   ARTICLE IV     RESERVED   ARTICLE V     GENERAL LOAN PROVISIONS   Section 5.1 Interest.   (a) Interest Rate Options.  Subject to the provisions of this Section, at the election of   the US Borrower, (i) Revolving Credit Loans shall bear interest at (A) the Base Rate plus the Applicable   Margin or (B) the LIBOR Rate plus the Applicable Margin (provided that the LIBOR Rate shall not be   available until three (3) Business Days after the Closing Date unless the US Borrower has delivered to the   Administrative Agent a letter in form and substance reasonably satisfactory to the Administrative Agent   indemnifying the Lenders in the manner set forth in Section 5.9 of this Agreement) and (ii) any Swingline   Loan shall bear interest at the Base Rate plus the Applicable Margin.  The US Borrower shall select the     

 

      - 43 -   rate of interest and Interest Period, if any, applicable to any Loan at the time a Notice of Borrowing is   given or at the time a Notice of Conversion/Continuation is given pursuant to Section 5.2.   (b) Default Rate.  Subject to Section 10.3, (i) immediately upon the occurrence and   during the continuance of an Event of Default under Section 10.1(a), (b), (i) or (j), or (ii) at the election of   the Required Lenders, upon the occurrence and during the continuance of any other Event of Default,   (A) the Borrowers shall no longer have the option to request LIBOR Rate Loans, Swingline Loans or   Letters of Credit, (B) any or all of the then outstanding LIBOR Rate Loans denominated in an Alternative   Currency be prepaid, or redominated into Dollars in the amount of the Dollar Equivalent thereof, on the   last day of the then current Interest Period with respect thereto, (C) all outstanding LIBOR Rate Loans   shall bear interest at a rate per annum of two percent (2%) in excess of the rate (including the Applicable   Margin) then applicable to LIBOR Rate Loans until the end of the applicable Interest Period and   thereafter at a rate equal to two percent (2%) in excess of the rate (including the Applicable Margin) then   applicable to Base Rate Loans, (D) all outstanding Base Rate Loans and other Obligations arising   hereunder or under any other Loan Document shall bear interest at a rate per annum equal to two percent   (2%) in excess of the rate (including the Applicable Margin) then applicable to Base Rate Loans or such   other Obligations arising hereunder or under any other Loan Document (such rate as determined under   clause (C) or (D) as applicable, “Default Rate”) and (E) all accrued and unpaid interest shall be due and   payable on demand of the Administrative Agent.  Interest shall continue to accrue on the Obligations after   the filing by or against the Borrowers of any petition seeking any relief in bankruptcy or under any Debtor   Relief Law.   (c) Interest Payment and Computation.  Interest on each Base Rate Loan shall be due   and payable in arrears on the last Business Day of each calendar quarter commencing March 31, 2016;   and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period   applicable thereto, and if such Interest Period extends over three (3) months, at the end of each three (3)   month interval during such Interest Period.  All computations of interest for Base Rate Loans when the   Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the   case may be, and actual days elapsed.  All other computations of fees and interest provided hereunder   shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or   interest, as applicable, being paid than if computed on the basis of a 365/366-day year) or, in the case of   interest on LIBOR Rate Loans denominated in Alternative Currencies as to which market practice differs   from the foregoing, in accordance with such market practice.  For the purposes of the Interest Act   (Canada), (i) whenever a rate of interest or fee rate hereunder is calculated on the basis of a year (the   “deemed year”) that contains fewer days than the actual number of days in the calendar year of   calculation, such rate of interest or fee rate shall be expressed as a yearly rate by multiplying such rate of   interest or fee rate by the actual number of days in the calendar year of calculation and dividing it by the   number of days in the deemed year, (ii) the principle of deemed reinvestment of interest shall not apply to   any interest calculation hereunder and (iii) the rates of interest stipulated herein are intended to be   nominal rates and not effective rates or yields.   (d) Maximum Rate.  In no contingency or event whatsoever shall the aggregate of all   amounts deemed interest under this Agreement charged or collected pursuant to the terms of this   Agreement exceed the highest rate permissible under any Applicable Law which a court of competent   jurisdiction shall, in a final determination, deem applicable hereto.  In the event that such a court   determines that the Lenders have charged or received interest hereunder in excess of the highest   applicable rate, the rate in effect hereunder shall automatically be reduced to the maximum rate permitted   by Applicable Law and the Lenders shall at the Administrative Agent’s option (i) promptly refund to the   Borrowers any interest received by the Lenders in excess of the maximum lawful rate or (ii) apply such   excess to the principal balance of the Obligations.  It is the intent hereof that the Borrowers not pay or   contract to pay, and that neither the Administrative Agent nor any Lender receive or contract to receive,     

 

      - 44 -   directly or indirectly in any manner whatsoever, interest in excess of that which may be paid by the   Borrowers under Applicable Law.   Section 5.2 Notice and Manner of Conversion or Continuation of Loans.  Provided that no   Default or Event of Default has occurred and is then continuing, the Borrowers shall have the option to   (a) convert at any time following the third Business Day after the Closing Date all or any portion of any   outstanding Base Rate Loans (other than Swingline Loans) in a principal amount equal to $5,000,000 or   any whole multiple of $1,000,000 in excess thereof into one or more LIBOR Rate Loans (whether in   Dollars or any Alternative Currency) and (b) upon the expiration of any Interest Period, (i) convert all or   any part of its outstanding LIBOR Rate Loans denominated in Dollars in a principal amount equal to   $3,000,000 or a whole multiple of $1,000,000 in excess thereof into Base Rate Loans (other than   Swingline Loans) or (ii) continue such LIBOR Rate Loans (whether in Dollars or an Alternative   Currency) as LIBOR Rate Loans.  Whenever the Borrowers desire to convert or continue Loans as   provided above, the US Borrower shall give the Administrative Agent irrevocable prior written notice in   the form attached as Exhibit E (a “Notice of Conversion/Continuation”) not later than 11:00 a.m. three   (3) Business Days before the day on which a proposed conversion or continuation of any such Loan   (whether in Dollars or an Alternative Currency) is to be effective specifying (A) the Loans to be   converted or continued, and, in the case of any LIBOR Rate Loan to be converted or continued, the last   day of the Interest Period therefor, (B) the effective date of such conversion or continuation (which shall   be a Business Day), (C) the principal amount of such Loans to be converted or continued, and (D) the   Interest Period to be applicable to such converted or continued LIBOR Rate Loan and (E) the currency of   the Loans to be converted or continued.  If the US Borrower fails to give a timely Notice of   Conversion/Continuation prior to the end of the Interest Period for any LIBOR Rate Loan, then the   applicable LIBOR Rate Loan shall be converted to a Base Rate Loan; provided, however, that in the case   of a failure to timely request a continuation of Loans denominated in an Alternative Currency, such Loans   shall be continued as LIBOR Rate Loans in their original currency with an Interest Period of one month.    Any such automatic conversion to a Base Rate Loan shall be effective as of the last day of the Interest   Period then in effect with respect to the applicable LIBOR Rate Loan.  If the US Borrower requests a   conversion to, or continuation of, LIBOR Rate Loans, but fails to specify an Interest Period, it will be   deemed to have specified an Interest Period of one month.  No Loan may be converted into or continued   as a Loan denominated in a different currency, but instead must be prepaid in the original currency of   such Loan and reborrowed in the other currency.  Notwithstanding anything to the contrary herein, a   Swingline Loan may not be converted to a LIBOR Rate Loan.  The Administrative Agent shall promptly   notify the affected Lenders of such Notice of Conversion/Continuation.   Section 5.3 Fees.   (a) Commitment Fee.  Commencing on the Closing Date, subject to   Section 5.15(a)(iii)(A), the US Borrower shall pay to the Administrative Agent, for the account of the   Revolving Credit Lenders, a non-refundable commitment fee (the “Commitment Fee”) at a rate per   annum equal to the Applicable Margin on the average daily unused portion of the Revolving Credit   Commitment of the Revolving Credit Lenders (other than the Defaulting Lenders, if any); provided, that   the amount of outstanding Swingline Loans shall not be considered usage of the Revolving Credit   Commitment for the purpose of calculating the Commitment Fee.  The Commitment Fee shall be payable   in arrears on the last Business Day of each calendar quarter during the term of this Agreement   commencing March 31, 2016 and ending on the date upon which all Obligations (other than contingent   indemnification obligations not then due) arising under the Revolving Credit Facility shall have been   indefeasibly and irrevocably paid and satisfied in full, all Letters of Credit have been terminated or   expired (or been Cash Collateralized) and the Revolving Credit Commitment has been terminated.  The   Commitment Fee shall be distributed by the Administrative Agent to the Revolving Credit Lenders (other     

 

      - 45 -   than any Defaulting Lender) pro rata in accordance with such Revolving Credit Lenders’ respective   Revolving Credit Commitment Percentages.   (b) Other Fees.  The US Borrower shall pay to the Arranger and the Administrative   Agent for their own respective accounts fees in Dollars in the amounts and at the times specified in their   Fee Letter.  The US Borrower shall pay to the Lenders such fees as shall have been separately agreed   upon in writing in the amounts and at the times so specified.   Section 5.4 Manner of Payment.  Except as otherwise expressly provided herein and except   with respect to principal and interest on Loans denominated in an Alternative Currency, each payment by   the Borrowers on account of the principal of or interest on the Loans or of any fee, commission or other   amounts (including the Reimbursement Obligation) payable to the Lenders under this Agreement shall be   made not later than 1:00 p.m. on the date specified for payment under this Agreement to the   Administrative Agent at the Administrative Agent’s Office for the account of the Lenders entitled to such   payment in Dollars, in immediately available funds and shall be made without any set off, counterclaim or   deduction whatsoever.  Any payment received after such time but before 2:00 p.m. on such day shall be   deemed a payment on such date for the purposes of Section 10.1, but for all other purposes shall be   deemed to have been made on the next succeeding Business Day.  Any payment received (i) after 2:00   p.m., in the case of payment in Dollars or (ii) after the Applicable Time specified by the Administrative   Agent in the case of payments in an Alternative Currency shall be deemed to have been made on the next   succeeding Business Day for all purposes.  Except as otherwise expressly provided herein, all payments   by the Borrowers hereunder with respect to principal and interest on Loans denominated in an Alternative   Currency shall be made to the Administrative Agent, for the account of the respective Lenders to which   such payment is owed, at the applicable Administrative Agent’s office in such Alternative Currency and   in Same Day Funds not later than the Applicable Time specified by the Administrative Agent on the dates   specified herein.  Without limitation the generality of the foregoing, the Administrative Agent may   require that payments due under this agreement be made in the United States.  If, for any reason, any   Borrower is prohibited by any Applicable Law from making any required payment hereunder in an   Alternative Currency, the Borrower shall make such payment in Dollars in the Dollar Equivalent of the   Alternative Currency payment amount.  Upon receipt by the Administrative Agent of each such payment,   the Administrative Agent shall distribute to each such Lender at its address for notices set forth herein its   Commitment Percentage in respect of the relevant Credit Facility (or other applicable share as provided   herein) of such payment and shall wire advice of the amount of such credit to each Lender.  Each payment   to the Administrative Agent on account of the principal of or interest on the Swingline Loans or of any   fee, commission or other amounts payable to the Swingline Lender shall be made in like manner, but for   the account of the Swingline Lender.  Each payment to the Administrative Agent of any Issuing Lender’s   fees or L/C Participants’ commissions shall be made in like manner, but for the account of such Issuing   Lender or the L/C Participants, as the case may be.  Each payment to the Administrative Agent of   Administrative Agent’s fees or expenses shall be made for the account of the Administrative Agent and   any amount payable to any Lender under Sections 5.9, 5.10, 5.11 or 12.3 shall be paid to the   Administrative Agent for the account of the applicable Lender.  Subject to the definition of Interest   Period, if any payment under this Agreement shall be specified to be made upon a day which is not a   Business Day, it shall be made on the next succeeding day which is a Business Day and such extension of   time shall in such case be included in computing any interest if payable along with such payment.    Notwithstanding the foregoing, if there exists a Defaulting Lender each payment by the Borrowers to such   Defaulting Lender hereunder shall be applied in accordance with Section 5.15(a)(ii).   Section 5.5 Evidence of Indebtedness.   (a) Extensions of Credit.  The Extensions of Credit made by each Lender and each   Issuing Lender shall be evidenced by one or more accounts or records maintained by such Lender or such     

 

      - 46 -   Issuing Lender and by the Administrative Agent in the ordinary course of business.  The accounts or   records maintained by the Administrative Agent and each Lender or the applicable Issuing Lender shall   be conclusive absent manifest error of the amount of the Extensions of Credit made by the Lenders or   such Issuing Lender to the US Borrower and its Subsidiaries and the interest and payments thereon.  Any   failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of   the Borrowers hereunder to pay any amount owing with respect to the Obligations.  In the event of any   conflict between the accounts and records maintained by any Lender or any Issuing Lender and the   accounts and records of the Administrative Agent in respect of such matters, the accounts and records of   the Administrative Agent shall control in the absence of manifest error.  Upon the request of any Lender   made through the Administrative Agent, the Borrowers shall execute and deliver to such Lender (through   the Administrative Agent) a Revolving Credit Note, Non-US Revolving Credit Note and/or Swingline   Note, as applicable, which shall evidence such Lender’s Revolving Credit Loans and/or Swingline Loans,   as applicable, in addition to such accounts or records.  Each Lender may attach schedules to its Notes and   endorse thereon the date, amount and maturity of its Loans and payments with respect thereto.   (b) Participations.  In addition to the accounts and records referred to in   subsection (a), each Revolving Credit Lender and the Administrative Agent shall maintain in accordance   with its usual practice accounts or records evidencing the purchases and sales by such Revolving Credit   Lender of participations in Letters of Credit and Swingline Loans.  In the event of any conflict between   the accounts and records maintained by the Administrative Agent and the accounts and records of any   Revolving Credit Lender in respect of such matters, the accounts and records of the Administrative Agent   shall control in the absence of manifest error.   Section 5.6 Sharing of Payments by Lenders.  If any Lender shall, by exercising any right of   setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its   Loans or other obligations hereunder resulting in such Lender’s receiving payment of a proportion of the   aggregate amount of its Loans and accrued interest thereon or other such obligations (other than pursuant   to Sections 5.9, 5.10, 5.11 or 12.3) greater than its pro rata share thereof as provided herein, then the   Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact, and   (b) purchase (for cash at face value) participations in the Loans and such other obligations of the other   Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments   shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and   accrued interest on their respective Loans and other amounts owing them; provided that:   (i) if any such participations are purchased and all or any portion of the   payment giving rise thereto is recovered, such participations shall be rescinded and the   purchase price restored to the extent of such recovery, without interest, and   (ii) the provisions of this paragraph shall not be construed to apply to   (A) any payment made by the Borrowers pursuant to and in accordance with the express   terms of this Agreement (including the application of funds arising from the existence of   a Defaulting Lender), (B) the application of Cash Collateral provided for in Section 5.14   or (C) any payment obtained by a Lender as consideration for the assignment of or sale of   a participation in any of its Loans or participations in Swingline Loans and Letters of   Credit to any assignee or participant, other than to any Borrower or any of its Subsidiaries   or Affiliates (as to which the provisions of this paragraph shall apply).    Each Credit Party consents to the foregoing and agrees, to the extent it may effectively do so under   Applicable Law, that any Lender acquiring a participation pursuant to the foregoing arrangements may   exercise against each Credit Party rights of setoff and counterclaim with respect to such participation as   fully as if such Lender were a direct creditor of each Credit Party in the amount of such participation.     

 

      - 47 -   Section 5.7 Administrative Agent’s Clawback.   (a) Funding by Lenders; Presumption by Administrative Agent.  Unless the   Administrative Agent shall have received notice from a Lender (i) in the case of Base Rate Loans, not   later than 12:00 noon on the date of any proposed borrowing and (ii) otherwise, prior to the proposed date   of any borrowing that such Lender will not make available to the Administrative Agent such Lender’s   share of such borrowing, the Administrative Agent may assume that such Lender has made such share   available on such date in accordance with Sections 2.3(b) and 4.2 and may, in reliance upon such   assumption, make available to the applicable Borrower a corresponding amount.  In such event, if a   Lender has not in fact made its share of the applicable borrowing available to the Administrative Agent,   then the applicable Lender and each Borrower severally agree to pay to the Administrative Agent   forthwith on demand such corresponding amount with interest thereon, for each day from and including   the date such amount is made available to such Borrower to but excluding the date of payment to the   Administrative Agent, at (A) in the case of a payment to be made by such Lender, the greater of the daily   average Federal Funds Rate and a rate determined by the Administrative Agent in accordance with   banking industry rules on interbank compensation and (B) in the case of a payment to be made by a   Borrower, the interest rate applicable to Base Rate Loans.  If any Borrower and such Lender shall pay   such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent   shall promptly remit to such Borrower the amount of such interest paid by such Borrower for such period.    If such Lender pays its share of the applicable borrowing to the Administrative Agent, then the amount so   paid shall constitute such Lender’s Loan included in such borrowing.  Any payment by any Borrower   shall be without prejudice to any claim such Borrower may have against a Lender that shall have failed to   make such payment to the Administrative Agent.   (b) Payments by the Borrowers; Presumptions by Administrative Agent.  Unless the   Administrative Agent shall have received notice from the US Borrower prior to the date on which any   payment is due to the Administrative Agent for the account of the Lenders, the Issuing Lender or the   Swingline Lender hereunder that a Borrower will not make such payment, the Administrative Agent may   assume that such Borrower has made such payment on such date in accordance herewith and may, in   reliance upon such assumption, distribute to the Lenders, the Issuing Lender or the Swingline Lender, as   the case may be, the amount due.  In such event, if the Borrowers have not in fact made such payment,   then each of the Lenders, the Issuing Lender or the Swingline Lender, as the case maybe, severally agrees   to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender,   Issuing Lender or the Swingline Lender, with interest thereon, for each day from and including the date   such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the   greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with   banking industry rules on interbank compensation.   (c) Nature of Obligations of Lenders Regarding Extensions of Credit.  The   obligations of the Lenders under this Agreement to make the Loans and issue or participate in Letters of   Credit are several and are not joint or joint and several.  The failure of any Lender to make available its   Commitment Percentage of any Loan requested by the Borrowers shall not relieve it or any other Lender   of its obligation, if any, hereunder to make its Commitment Percentage of such Loan available on the   borrowing date, but no Lender shall be responsible for the failure of any other Lender to make its   Commitment Percentage of such Loan available on the borrowing date.   Section 5.8 Changed Circumstances.   (a) Circumstances Affecting LIBOR Rate Availability.  In connection with any   request for a LIBOR Rate Loan or a conversion to or continuation thereof, if for any reason (i) the   Administrative Agent shall determine (which determination shall be conclusive and binding absent     

 

      - 48 -   manifest error) that deposits (whether in Dollars or an Alternative Currency) are not being offered to   banks in the London interbank Eurodollar market for the applicable amount and Interest Period of such   Loan, (ii) the Administrative Agent shall determine (which determination shall be conclusive and binding   absent manifest error) that reasonable and adequate means do not exist for the ascertaining the LIBOR   Rate for such Interest Period with respect to a proposed LIBOR Rate Loan (whether denominated in   Dollars or an Alternative Currency) or (iii) the Required Lenders shall determine (which determination   shall be conclusive and binding absent manifest error) that the LIBOR Rate does not adequately and fairly   reflect the cost to such Lenders of making or maintaining such Loans during such Interest Period, then the   Administrative Agent shall promptly give notice thereof to the US Borrower.  Thereafter, until the   Administrative Agent notifies the US Borrower that such circumstances no longer exist, the obligation of   the Lenders to make LIBOR Rate Loans in the affected currency or currencies and the right of the   Borrowers to convert any Loan to or continue any Loan as a LIBOR Rate Loan shall be suspended, and   the Borrowers shall either (A) repay in full (or cause to be repaid in full) the then outstanding principal   amount of each such LIBOR Rate Loan together with accrued interest thereon (subject to Section 5.1(d)),   on the last day of the then current Interest Period applicable to such LIBOR Rate Loan; or (B) convert the   then outstanding principal amount of each such LIBOR Rate Loan to a Base Rate Loan as of the last day   of such Interest Period.   (b) Laws Affecting LIBOR Rate Availability.  If, after the date hereof, the   introduction of, or any change in, any Applicable Law or any change in the interpretation or   administration thereof by any Governmental Authority, central bank or comparable agency charged with   the interpretation or administration thereof, or compliance by any of the Lenders (or any of their   respective Lending Offices) with any request or directive (whether or not having the force of law) of any   such Governmental Authority, central bank or comparable agency, shall make it unlawful or impossible   for any of the Lenders (or any of their respective Lending Offices) to honor its obligations hereunder to   make or maintain any LIBOR Rate Loan, such Lender shall promptly give notice thereof to the   Administrative Agent and the Administrative Agent shall promptly give notice to the US Borrower and   the other Lenders.  Thereafter, until the Administrative Agent notifies the US Borrower that such   circumstances no longer exist, (i) the obligations of the Lenders to make LIBOR Rate Loans, and the right   of the Borrowers to convert any Loan to a LIBOR Rate Loan or continue any Loan as a LIBOR Rate   Loan shall be suspended and thereafter the Borrowers may select only Base Rate Loans and (ii) if any of   the Lenders may not lawfully continue to maintain a LIBOR Rate Loan to the end of the then current   Interest Period applicable thereto, the applicable Loan shall immediately be converted to a Base Rate   Loan for the remainder of such Interest Period.   Section 5.9 Indemnity.  Each Borrower hereby indemnifies each of the Lenders against any   loss or expense (including any loss or expense arising from the liquidation or reemployment of funds   obtained by it to maintain a LIBOR Rate Loan, foreign exchange losses or from fees payable to terminate   the deposits from which such funds were obtained) which may arise or be attributable to each Lender’s   obtaining, liquidating or employing deposits or other funds acquired to effect, fund or maintain any Loan   (a) as a consequence of any failure by such Borrower to make any payment when due of any amount due   hereunder in connection with a LIBOR Rate Loan (including the failure to make a payment of any Loan   denominated in an Alternative Currency on its scheduled due date or any payment thereof in a different   currency, other than at the direction of the Administrative Agent or any Lender), (b) due to any failure of   such Borrower to borrow, continue or convert on a date specified therefor in a Notice of Borrowing or   Notice of Conversion/Continuation or (c) due to any payment, prepayment or conversion of any LIBOR   Rate Loan on a date other than the last day of the Interest Period therefor.  The amount of such loss or   expense shall be determined, in the applicable Lender’s sole discretion, based upon the assumption that   such Lender funded its Commitment Percentage of the LIBOR Rate Loans in the London interbank   market and using any reasonable attribution or averaging methods which such Lender deems appropriate   and practical.  A certificate of such Lender setting forth the basis for determining such amount or amounts     

 

      - 49 -   necessary to compensate such Lender shall be forwarded to the US Borrower through the Administrative   Agent and shall be conclusively presumed to be correct save for manifest error.   Section 5.10 Increased Costs.   (a) Increased Costs Generally.  If any Change in Law shall:   (i) impose, modify or deem applicable any reserve, special deposit,   compulsory loan, insurance charge or similar requirement against assets of, deposits with   or for the account of, or advances, loans or other credit extended or participated in by,   any Lender (except any reserve requirement reflected in the LIBOR Rate) or any Issuing   Lender;   (ii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes,   (B) Taxes described in clauses (b) through (d) of the definition of Excluded Taxes and   (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments,   or other obligations, or its deposits, reserves, other liabilities or capital attributable   thereto; or   (iii) impose on any Lender or any Issuing Lender or the London interbank   market any other condition, cost or expense (other than Taxes) affecting this Agreement   or LIBOR Rate Loans made by such Lender or any Letter of Credit or participation   therein;   and the result of any of the foregoing shall be to increase the cost to such Lender, the Issuing Lender or   such other Recipient of making, converting to, continuing or maintaining any Loan (or of maintaining its   obligation to make any such Loan), or to increase the cost to such Lender, such Issuing Lender or such   other Recipient of participating in, issuing or maintaining any Letter of Credit (or of maintaining its   obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received   or receivable by such Lender, such Issuing Lender or such other Recipient hereunder (whether of   principal, interest or any other amount) then, upon written request of such Lender, such Issuing Lender or   other Recipient, the Borrowers shall promptly pay to any such Lender, such Issuing Lender or other   Recipient, as the case may be, such additional amount or amounts as will compensate such Lender, such   Issuing Lender or other Recipient, as the case may be, for such additional costs incurred or reduction   suffered.   (b) Capital Requirements.  If any Lender or any Issuing Lender determines that any   Change in Law affecting such Lender or such Issuing Lender or any lending office of such Lender or such   Lender’s or such Issuing Lender’s holding company, if any, regarding capital or liquidity requirements,   has or would have the effect of reducing the rate of return on such Lender’s or such Issuing Lender’s   capital or on the capital of such Lender’s or such Issuing Lender’s holding company, if any, as a   consequence of this Agreement, the Revolving Credit Commitment of such Lender or the Loans made by,   or participations in Letters of Credit or Swingline Loans held by, such Lender, or the Letters of Credit   issued by such Issuing Lender, to a level below that which such Lender or such Issuing Lender or such   Lender’s or such Issuing Lender’s holding company could have achieved but for such Change in Law   (taking into consideration such Lender’s or such Issuing Lender’s policies and the policies of such   Lender’s or such Issuing Lender’s holding company with respect to capital adequacy and liquidity), then   from time to time upon written request of such Lender or such Issuing Lender, the Borrowers shall   promptly pay to such Lender or such Issuing Lender, as the case may be, such additional amount or   amounts as will compensate such Lender or such Issuing Lender or such Lender’s or such Issuing   Lender’s holding company for any such reduction suffered.       

 

      - 50 -   (c) Certificates for Reimbursement.  A certificate of a Lender, or an Issuing Lender   or such other Recipient setting forth the amount or amounts necessary to compensate such Lender or such   Issuing Lender, such other Recipient or any of their respective holding companies, as the case may be, as   specified in paragraph (a) or (b) of this Section and delivered to the Borrowers, shall be conclusive absent   manifest error.  Each Borrower shall pay such Lender or such Issuing Lender or such other Recipient, as   the case may be, the amount shown as due on any such certificate within ten (10) days after receipt   thereof.   (d) Delay in Requests.  Failure or delay on the part of any Lender or any Issuing   Lender or such other Recipient to demand compensation pursuant to this Section shall not constitute a   waiver of such Lender’s or such Issuing Lender’s or such other Recipient’s right to demand such   compensation; provided that the Borrowers shall not be required to compensate any Lender or an Issuing   Lender or any other Recipient pursuant to this Section for any increased costs incurred or reductions   suffered more than six (6) months prior to the date that such Lender or such Issuing Lender or such other   Recipient, as the case may be, notifies the US Borrower of the Change in Law giving rise to such   increased costs or reductions, and of such Lender’s or such Issuing Lender’s or such other Recipient’s   intention to claim compensation therefor (except that if the Change in Law giving rise to such increased   costs or reductions is retroactive, then the nine-month period referred to above shall be extended to   include the period of retroactive effect thereof).   Section 5.11 Taxes.   (a) Defined Terms.  For purposes of this Section 5.11, the term “Lender” includes   any Issuing Lender and the term “Applicable Law” includes FATCA.   (b) Payments Free of Taxes.  Any and all payments by or on account of any   obligation of any Credit Party under any Loan Document shall be made without deduction or withholding   for any Taxes, except as required by Applicable Law.  If any Applicable Law (as determined in the good   faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax   from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled   to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the   relevant Governmental Authority in accordance with Applicable Law and, if such Tax is an Indemnified   Tax, then the sum payable by the applicable Credit Party shall be increased as necessary so that, after   such deduction or withholding has been made (including such deductions and withholdings applicable to   additional sums payable under this Section), the applicable Recipient receives an amount equal to the sum   it would have received had no such deduction or withholding been made.   (c) Payment of Other Taxes by the Credit Parties.  The Credit Parties shall timely   pay to the relevant Governmental Authority in accordance with Applicable Law, or at the option of the   Administrative Agent timely reimburse it for the payment of, any Other Taxes.   (d) Indemnification by the Credit Parties.  The Credit Parties shall jointly and   severally indemnify each Recipient, within ten (10) days after demand therefor, for the full amount of any   Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts   payable under this Section) payable or paid by such Recipient or required to be withheld or deducted from   a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto,   whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant   Governmental Authority.  A certificate as to the amount of such payment or liability delivered to the US   Borrower by a Recipient (with a copy to the Administrative Agent), or by the Administrative Agent on its   own behalf or on behalf of a Recipient, shall be conclusive absent manifest error.     

 

      - 51 -   (e) Indemnification by the Lenders.  Each Lender shall severally indemnify the   Administrative Agent, within ten (10) days after demand therefor, for (i) any Indemnified Taxes   attributable to such Lender (but only to the extent that any Credit Party has not already indemnified the   Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Credit Parties   to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of   Section 12.9(d) relating to the maintenance of a Participant Register and (iii) any Excluded Taxes   attributable to such Lender, in each case, that are payable or paid by the Administrative Agent in   connection with any Loan Document, and any reasonable expenses arising therefrom or with respect   thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant   Governmental Authority.  A certificate as to the amount of such payment or liability delivered to any   Lender by the Administrative Agent shall be conclusive absent manifest error.  Each Lender hereby   authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such   Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from   any other source against any amount due to the Administrative Agent under this paragraph (e).   (f) Evidence of Payments.  As soon as practicable after any payment of Taxes by   any Credit Party to a Governmental Authority pursuant to this Section 5.11, such Credit Party shall   deliver to the Administrative Agent the original or a certified copy of a receipt issued by such   Governmental Authority evidencing such payment, a copy of the return reporting such payment or other   evidence of such payment reasonably satisfactory to the Administrative Agent.   (g) Status of Lenders.   (i) Any Lender that is entitled to an exemption from or reduction of   withholding Tax with respect to payments made under any Loan Document shall deliver   to the applicable Borrower and the Administrative Agent, at the time or times reasonably   requested by the applicable Borrower or the Administrative Agent, such properly   completed and executed documentation reasonably requested by the applicable Borrower   or the Administrative Agent as will permit such payments to be made without   withholding or at a reduced rate of withholding.  In addition, any Lender, if reasonably   requested by the US Borrower or the Administrative Agent, shall deliver such other   documentation prescribed by Applicable Law or reasonably requested by the US   Borrower or the Administrative Agent as will enable the US Borrower or the   Administrative Agent to determine whether or not such Lender is subject to backup   withholding or information reporting requirements.  Notwithstanding anything to the   contrary in the preceding two sentences, the completion, execution and submission of   such documentation (other than such documentation set forth in Section 5.11(g)(ii)(A),   (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment   such completion, execution or submission would subject such Lender to any material   unreimbursed cost or expense or would materially prejudice the legal or commercial   position of such Lender.   (ii) Without limiting the generality of the foregoing, in the event that any   Borrower is a U.S. Person:   (A) Any Lender that is a U.S. Person shall deliver to the US   Borrower and the Administrative Agent on or prior to the date on which such   Lender becomes a Lender under this Agreement (and from time to time thereafter   upon the reasonable request of the US Borrower or the Administrative Agent),   executed copies of IRS Form W-9 certifying that such Lender is exempt from   United States federal backup withholding tax;     

 

      - 52 -   (B) any Foreign Lender shall, to the extent it is legally entitled to do   so, deliver to the US Borrower and the Administrative Agent (in such number of   copies as shall be requested by the recipient) on or prior to the date on which   such Foreign Lender becomes a Lender under this Agreement (and from time to   time thereafter upon the reasonable request of the US Borrower or the   Administrative Agent), whichever of the following is applicable:   (1) in the case of a Foreign Lender claiming the benefits of an   income tax treaty to which the United States is a party (x) with respect to   payments of interest under any Loan Document, executed copies of IRS Form   W-8BEN-E establishing an exemption from, or reduction of, United States   federal withholding Tax pursuant to the “interest” article of such tax treaty and   (y) with respect to any other applicable payments under any Loan Document,   IRS Form W-8BEN-E establishing an exemption from, or reduction of, United   States federal withholding Tax pursuant to the “business profits” or “other   income” article of such tax treaty;   (2) executed copies of IRS Form W-8ECI;   (3) in the case of a Foreign Lender claiming the benefits of the   exemption for portfolio interest under Section 881(c) of the Code, (x) a   certificate substantially in the form of Exhibit H-1 to the effect that such Foreign   Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a   “10 percent shareholder” of any Borrower within the meaning of   Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described   in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and   (y) executed copies of IRS Form W-8BEN-E; or   (4) to the extent a Foreign Lender is not the beneficial owner,   executed copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS   Form W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of   Exhibit H-2 or Exhibit H-3, IRS Form W-9, and/or other certification documents   from each beneficial owner, as applicable; provided that if the Foreign Lender is   a partnership and one or more direct or indirect partners of such Foreign Lender   are claiming the portfolio interest exemption, such Foreign Lender may provide a   U.S. Tax Compliance Certificate substantially in the form of Exhibit H-4 on   behalf of each such direct and indirect partner;   (C) any Foreign Lender shall, to the extent it is legally entitled to do   so, deliver to the US Borrower and the Administrative Agent (in such number of   copies as shall be requested by the recipient) on or prior to the date on which   such Foreign Lender becomes a Lender under this Agreement (and from time to   time thereafter upon the reasonable request of the US Borrower or the   Administrative Agent), executed copies of any other form prescribed by   Applicable Law as a basis for claiming exemption from or a reduction in United   States federal withholding Tax, duly completed, together with such   supplementary documentation as may be prescribed by Applicable Law to permit   the US Borrower or the Administrative Agent to determine the withholding or   deduction required to be made; and     

 

      - 53 -   (D) if a payment made to a Lender under any Loan Document would   be subject to United States 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 Code, as   applicable), such Lender shall deliver to the US Borrower and the Administrative   Agent at the time or times prescribed by law and at such time or times reasonably   requested by the US Borrower or the Administrative Agent such documentation   prescribed by Applicable Law (including as prescribed by   Section 1471(b)(3)(C)(i) of the Code) and such additional documentation   reasonably requested by the US Borrower or the Administrative Agent as may be   necessary for the US Borrower and the Administrative Agent to comply with   their obligations under FATCA and to determine that such Lender has complied   with such Lender’s obligations under FATCA or to determine the amount to   deduct and withhold from such payment.  Solely for purposes of this clause (D),   “FATCA” shall include any amendments made to FATCA after the date of this   Agreement.   Each Lender agrees that if any form or certification it previously delivered expires or becomes   obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the US   Borrower and the Administrative Agent in writing of its legal inability to do so.   (h) Treatment of Certain Refunds.  If any party determines, in its sole discretion   exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified   pursuant to this Section 5.11 (including by the payment of additional amounts pursuant to this   Section 5.11), it shall pay to the indemnifying party an amount equal to such refund (but only to the   extent of indemnity payments made under this Section with respect to the Taxes giving rise to such   refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without   interest (other than any interest paid by the relevant Governmental Authority with respect to such refund).    Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified   party the amount paid over pursuant to this paragraph (h) (plus any penalties, interest or other charges   imposed by the relevant Governmental Authority) in the event that such indemnified party is required to   repay such refund to such Governmental Authority.  Notwithstanding anything to the contrary in this   paragraph (h), in no event will the indemnified party be required to pay any amount to an indemnifying   party pursuant to this paragraph (h) the payment of which would place the indemnified party in a less   favorable net after-Tax position than the indemnified party would have been in if the Tax subject to   indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and   the indemnification payments or additional amounts with respect to such Tax had never been paid.  This   paragraph shall not be construed to require any indemnified party to make available its Tax returns (or   any other information relating to its Taxes that it deems confidential) to the indemnifying party or any   other Person.   (i) Survival.  Each party’s obligations under this Section 5.11 shall survive the   resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement   of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all   obligations under any Loan Document.   Section 5.12 Mitigation Obligations; Replacement of Lenders.   (a) Designation of a Different Lending Office.  If any Lender requests compensation   under Section 5.10, or requires the Borrowers to pay any Indemnified Taxes or additional amounts to any   Lender or any Governmental Authority for the account of any Lender pursuant to Section 5.11, then such     

 

      - 54 -   Lender shall, at the request of a Borrower, use reasonable efforts to designate a different lending office   for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of   its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment   (i) would eliminate or reduce amounts payable pursuant to Section 5.10 or Section 5.11, as the case may   be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would   not otherwise be disadvantageous to such Lender. Each Borrower hereby agrees to pay all reasonable   costs and expenses incurred by any Lender in connection with any such designation or assignment.   (b) Replacement of Lenders.  If any Lender requests compensation under   Section 5.10, or if the Borrowers are required to pay any Indemnified Taxes or additional amounts to any   Lender or any Governmental Authority for the account of any Lender pursuant to Section 5.11, and, in   each case, such Lender has declined or is unable to designate a different lending office in accordance with   Section 5.12(a), or if any Lender is a Defaulting Lender or a Non-Consenting Lender, then the US   Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent,   require such Lender to assign and delegate, without recourse (in accordance with and subject to the   restrictions contained in, and consents required by, Section 12.9), all of its interests, rights (other than its   existing rights to payments pursuant to Section 5.10 or Section 5.11) and obligations under this   Agreement and the related Loan Documents to an Eligible Assignee that shall assume such obligations   (which assignee may be another Lender, if a Lender accepts such assignment); provided that:   (i) the Borrowers shall have paid to the Administrative Agent the   assignment fee (if any) specified in Section 12.9;   (ii) such Lender shall have received payment of an amount equal to the   outstanding principal of its Loans and participations in Letters of Credit, accrued interest   thereon, accrued fees and all other amounts payable to it hereunder and under the other   Loan Documents (including any amounts under Section 5.9) from the assignee (to the   extent of such outstanding principal and accrued interest and fees) or the Borrowers (in   the case of all other amounts);   (iii) in the case of any such assignment resulting from a claim for   compensation under Section 5.10 or payments required to be made pursuant to   Section 5.11, such assignment will result in a reduction in such compensation or   payments thereafter;   (iv) such assignment does not conflict with Applicable Law; and   (v) in the case of any assignment resulting from  a Lender becoming a Non-   Consenting Lender, the applicable assignee shall have consented to the applicable   amendment, waiver or consent.   A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a   result of a waiver by such Lender or otherwise, the circumstances entitling the Borrowers to require such   assignment and delegation cease to apply.   Section 5.13 Incremental Loans.   (a) At any time, the US Borrower may by written notice to the Administrative Agent   and the Lenders elect to request the establishment of:     

 

      - 55 -   (i) one or more incremental term loan commitments (any such incremental   term loan commitment, an “Incremental Term Loan Commitment”) to make one or more   additional term loan (any such additional term loan, an “Incremental Term Loan”) in   Dollars; or   (ii) one or more increases in the Revolving Credit Commitments (any such   increase, an “Incremental Revolving Credit Commitment” and, together with the   Incremental Term Loan Commitments, the “Incremental Loan Commitments”) to make   revolving credit loans in Dollars under the Revolving Credit Facility (any such increase,   an “Incremental Revolving Credit Increase” and, together with the Incremental Term   Loans, the “Incremental Loans ”);   provided that (1) the total aggregate principal amount for all such Incremental Loan Commitments shall   not (as of any date of incurrence thereof) exceed $75,000,000 and (2) the total aggregate amount for each   Incremental Loan Commitment (and the Incremental Loans made thereunder) shall not be less than a   minimum principal amount of $10,000,000 or, if less, the remaining amount permitted pursuant to the   foregoing clause (1).  Each such notice shall specify the date (each, an “Increased Amount Date”) on   which the US Borrower proposes that any Incremental Loan Commitment shall be effective, which shall   be a date not less than ten (10) Business Days after the date on which such notice is delivered to   Administrative Agent and the Lenders.  Each Lender (or any Affiliate of any Lender and/or any Approved   Fund) shall notify the Administrative Agent within such time period whether or not it agrees to provide   the Incremental Loan Commitment and if so, whether by an amount equal to, greater than, or less than its   Revolving Credit Commitment Percentage.  Any Lender not responding within such time period shall be   deemed to have declined to provide an Incremental Loan Commitment.  The Administrative Agent shall   notify the US Borrower and each Lender of the Lenders’ responses to each request made hereunder.  To   achieve full amount of a requested increase, the US Borrower may invite any other Person reasonably   satisfactory to the Administrative Agent, to provide an Incremental Loan Commitment (any Lender, any   Affiliate of any Lender, any Approved Fund or such Person, an “Incremental Lender”).  Any proposed   Incremental Lender offered or approached to provide all or a portion of any Incremental Loan   Commitment may elect or decline, in its sole discretion, to provide such Incremental Loan Commitment.   The Administrative Agent and the Borrower shall determine the final allocation of the Incremental Loan   Commitments by the Incremental Lenders.  Any Incremental Loan Commitment shall become effective as   of such Increased Amount Date; provided that:   (A) no Default or Event of Default shall exist on such Increased   Amount Date before or after giving effect to (1) any Incremental Loan   Commitment, (2) the making of any Incremental Loans  pursuant thereto and (3)   any Permitted Acquisition consummated in connection therewith;   (B) the Administrative Agent and the Lenders shall have received   from the US Borrower an Officer’s Compliance Certificate demonstrating, in   form and substance reasonably satisfactory to the Administrative Agent, that the   US Borrower is in compliance with the financial covenants set forth in   Section 9.15 based on the financial statements most recently delivered pursuant   to Section 8.1(a) or 8.1(b), as applicable, both before and after giving effect (on a   Pro Forma Basis) to (1) any Incremental Loan Commitment, (2) the making of   any Incremental Loans pursuant thereto and (3) any Permitted Acquisition   consummated in connection therewith;   (C) each of the representations and warranties contained in Article   VII shall be true and correct in all material respects, except to the extent any such     

 

      - 56 -   representation and warranty is qualified by materiality or reference to Material   Adverse Effect, in which case, such representation and warranty shall be true,   correct and complete in all respects, on such Increased Amount Date with the   same effect as if made on and as of such date (except for any such representation   and warranty that by its terms is made only as of an earlier date, which   representation and warranty shall remain true and correct as of such earlier date);   (D) the proceeds of any Incremental Loans shall be used for general   corporate purposes of the US Borrower and its Subsidiaries (including Permitted   Acquisitions);   (E) each Incremental Loan Commitment (and the Incremental Loans   made thereunder) shall constitute Obligations of the US Borrower and shall be   secured and guaranteed with the other Extensions of Credit on a pari passu basis;   (F) (1) in the case of each Incremental Term Loan (the terms of   which shall be set forth in the relevant Lender Joinder Agreement):   (x) such Incremental Term Loan will mature and amortize in a   manner reasonably acceptable to the Administrative Agent, the Incremental   Lenders making such Incremental Term Loan and the Borrower, but will not in   any event have a maturity date earlier than the Revolving Loan Maturity Date;   (y) the Applicable Margin and pricing grid, if applicable, for such   Incremental Term Loan shall be determined by the Administrative Agent, the   applicable Incremental Lenders and the US Borrower on the applicable Increased   Amount Date; and   (2) in the case of each Incremental Revolving Credit Increase (the terms of   which shall be set forth in the relevant Lender Joinder Agreement):   (x) such Incremental Revolving Credit Increase shall mature on the   Revolving Credit Maturity Date, shall bear interest and be entitled to fees, in   each case at a rate determined by the Administrative Agent, the applicable   Incremental Lenders and the US Borrower, and shall be subject to the same terms   and conditions as the Revolving Credit Loans; interest rate margins and/or   unused fees with respect to any Incremental Revolving Credit Increase may be   higher than the interest rate margins and/or unused fees applicable to the then   existing Revolving Credit Commitments; provided that if the interest rate   margins and/or unused fees, as applicable, in respect of any Incremental   Revolving Credit Increase exceed the interest rate margins and/or unused fees, as   applicable, for the Initial Revolving Credit Facility, then the interest rate margins   and/or unused fees, as applicable, for the Initial Revolving Credit Facility shall   be increased so that the interest rate margins and/or unused fees, as applicable,   are equal to the interest rate margins and/or unused fees for such Incremental   Revolving Credit Increase; provided further that, in determining the interest rate   margins and unused fees applicable to the Incremental Revolving Credit Increase   and the then existing Revolving Credit Commitments, (AA) any upfront fees   payable by the US Borrower to the Lenders under the then existing Revolving   Credit Commitments or any Incremental Revolving Credit Increase, in each case   in the initial primary syndication thereof and the effects of any and all interest     

 

      - 57 -   rate floors, shall be included (with such upfront fees being equated to interest   based on an assumed four-year life to maturity), (BB) customary arrangement or   commitment fees payable to any Arranger (or its affiliates) or to one or more   arrangers (or their affiliates) in connection with the then existing Revolving   Credit Commitments or to one or more arrangers (or their affiliates) of any   Incremental Revolving Credit Increase shall be excluded and (CC) in the event   that, at the time of determination, the Applicable Margin is determined based on   a pricing grid, the interest rate margins and unused fees shall be measured for   purposes of this clause (F) by reference to each level of the pricing grid;   (y) the outstanding Revolving Credit Loans and Revolving Credit   Commitment Percentages of Swingline Loans and L/C Obligations will be   reallocated by the Administrative Agent on the applicable Increased Amount   Date among the Revolving Credit Lenders (including the Incremental Lenders   providing such Incremental Revolving Credit Increase) in accordance with their   revised Revolving Credit Commitment Percentages (and the Revolving Credit   Lenders (including the Incremental Lenders providing such Incremental   Revolving Credit Increase) agree to make all payments and adjustments   necessary to effect such reallocation and the Borrower shall pay any and all costs   required pursuant to Section 5.9 in connection with such reallocation as if such   reallocation were a repayment); and   (z) except as provided above, all of the other terms and conditions   applicable to such Incremental Revolving Credit Increase shall, except to the   extent otherwise provided in this Section 5.13, be identical to the terms and   conditions applicable to the Revolving Credit Facility;   (G) any Incremental Lender with an Incremental Revolving Credit   Increase shall be entitled to the same voting rights as the existing Revolving   Credit Lenders under the Revolving Credit Facility and any Extensions of Credit   made in connection with each Incremental Revolving Credit Increase shall   receive proceeds of prepayments on the same basis as the other Revolving Credit   Loans made hereunder;   (H) such Incremental Loan Commitments shall be effected pursuant   to one or more Lender Joinder Agreements executed and delivered by the US   Borrower, the Administrative Agent and the applicable Incremental Lenders   (which Lender Joinder Agreement may, without the consent of any other   Lenders, effect such amendments to this Agreement and the other Loan   Documents as may be necessary or appropriate, in the opinion of the   Administrative Agent, to effect the provisions of this Section 5.13); and   (I) the US Borrower shall deliver or cause to be delivered any   customary legal opinions or other documents (including, without limitation, a   resolution duly adopted by the board of directors (or equivalent governing body)   of each Credit Party authorizing such Incremental Loan and/or Incremental Term   Loan Commitment) reasonably requested by Administrative Agent in connection   with any such transaction.     

 

      - 58 -   (b) (i) The Incremental Term Loans shall be on such other terms as shall be set   forth in an amendment to this Agreement including, among other provisions, amortization,   optional prepayments and mandatory prepayments.   (ii) The Incremental Lenders shall be included in any determination of the   Required Lenders and, unless otherwise agreed, the Incremental Lenders will not   constitute a separate voting class for any purposes under this Agreement.   (c) (i) On any Increased Amount Date on which any Incremental Term Loan   Commitment becomes effective, subject to the foregoing terms and conditions, each Incremental   Lender with an Incremental Term Loan Commitment shall make, or be obligated to make, an   Incremental Term Loan to the US Borrower in an amount equal to its Incremental Term Loan   Commitment and shall become a Term Loan Lender hereunder with respect to such Incremental   Term Loan Commitment and the Incremental Term Loan made pursuant thereto.   (ii) On any Increased Amount Date on which any Incremental Revolving   Credit Increase becomes effective, subject to the foregoing terms and conditions, each   Incremental Lender with an Incremental Revolving Credit Commitment shall become a   Revolving Credit Lender hereunder with respect to such Incremental Revolving Credit   Commitment.   Section 5.14 Cash Collateral.  At any time that there shall exist a Defaulting Lender, within   one Business Day following the written request of the Administrative Agent, any Issuing Lender (with a   copy to the Administrative Agent) or the Swingline Lender (with a copy to the Administrative Agent), the   US Borrower shall Cash Collateralize the Fronting Exposure of such Issuing Lender and/or the Swingline   Lender, as applicable, with respect to such Defaulting Lender (determined after giving effect to   Section 5.15(a)(iv) and any Cash Collateral provided by such Defaulting Lender) in an amount not less   than the Minimum Collateral Amount.   (a) Grant of Security Interest.  US Borrower, and to the extent provided by any   Defaulting Lender, such Defaulting Lender, hereby grants to the Administrative Agent, for the benefit of   each Issuing Lender and the Swingline Lender, and agrees to maintain, a first priority security interest in   all such Cash Collateral as security for the Defaulting Lender’s obligation to fund participations in respect   of L/C Obligations and Swingline Loans, to be applied pursuant to subsection (b) below.  If at any time   the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person   other than the Administrative Agent, each Issuing Lender and the Swingline Lender as herein provided   (other than Permitted Liens), or that the total amount of such Cash Collateral is less than the Minimum   Collateral Amount, the US Borrower will, promptly upon demand by the Administrative Agent, pay or   provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such   deficiency (after giving effect to any Cash Collateral provided by the Defaulting Lender).   (b) Application.  Notwithstanding anything to the contrary contained in this   Agreement, Cash Collateral provided under this Section 5.14 or Section 5.15 in respect of Letters of   Credit and Swingline Loans shall be applied to the satisfaction of the Defaulting Lender’s obligation to   fund participations in respect of L/C Obligations and Swingline Loans (including, as to Cash Collateral   provided by a Defaulting Lender, any interest accrued on such obligation) for which the Cash Collateral   was so provided, prior to any other application of such property as may otherwise be provided for herein.   (c) Termination of Requirement.  Cash Collateral (or the appropriate portion thereof)   provided to reduce the Fronting Exposure of any Issuing Lender and/or the Swingline Lender, as   applicable, shall no longer be required to be held as Cash Collateral pursuant to this Section 5.14     

 

      - 59 -   following (i) the elimination of the applicable Fronting Exposure (including by the termination of   Defaulting Lender status of the applicable Lender), or (ii) the determination by the Administrative Agent,   the Issuing Lenders and the Swingline Lender that there exists excess Cash Collateral; provided that,   subject to Section 5.15, the Person providing Cash Collateral, the Issuing Lenders and the Swingline   Lender may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or   other obligations; and provided further that to the extent that such Cash Collateral was provided by the   US Borrower, such Cash Collateral shall remain subject to the security interest granted pursuant to the   Loan Documents.   Section 5.15 Defaulting Lenders.   (a) Defaulting Lender Adjustments.  Notwithstanding anything to the contrary   contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as such   Lender is no longer a Defaulting Lender, to the extent permitted by Applicable Law:   (i) Waivers and Amendments.  Such Defaulting Lender’s right to approve or   disapprove any amendment, waiver or consent with respect to this Agreement shall be   restricted as set forth in the definition of Required Lenders and Section 12.2.   (ii) Defaulting Lender Waterfall. Any payment of principal, interest, fees or   other amounts received by the Administrative Agent for the account of such Defaulting   Lender (whether voluntary or mandatory, at maturity, pursuant to Article X or otherwise)   or received by the Administrative Agent from a Defaulting Lender pursuant to   Section 12.4 shall be applied at such time or times as may be determined by the   Administrative Agent as follows: first, to the payment of any amounts owing by such   Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a   pro rata basis of any amounts owing by such Defaulting Lender to the Issuing Lenders or   the Swingline Lender hereunder; third, to Cash Collateralize the Fronting Exposure of the   Issuing Lenders and the Swingline Lender with respect to such Defaulting Lender in   accordance with Section 5.14; fourth, as the US Borrower may request (so long as no   Default or Event of Default exists), to the funding of any Loan or funded participation in   respect of which such Defaulting Lender has failed to fund its portion thereof as required   by this Agreement, as determined by the Administrative Agent; fifth, if so determined by   the Administrative Agent and the US Borrower, to be held in a deposit account and   released pro rata in order to (A) satisfy such Defaulting Lender’s potential future funding   obligations with respect to Loans and funded participations under this Agreement and (B)   Cash Collateralize the Issuing Lenders’ future Fronting Exposure with respect to such   Defaulting Lender with respect to future Letters of Credit and Swingline Loans issued   under this Agreement, in accordance with Section 5.14; sixth, to the payment of any   amounts owing to the Lenders, the Issuing Lenders or the Swingline Lender as a result of   any judgment of a court of competent jurisdiction obtained by any Lender, any Issuing   Lender or the Swingline Lender against such Defaulting Lender as a result of such   Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as   no Default or Event of Default exists, to the payment of any amounts owing to the   Borrowers as a result of any judgment of a court of competent jurisdiction obtained by   the Borrowers against such Defaulting Lender as a result of such Defaulting Lender's   breach of its obligations under this Agreement; and eighth, to such Defaulting Lender or   as otherwise directed by a court of competent jurisdiction; provided that if (1) such   payment is a payment of the principal amount of any Loans or funded participations in   Letters of Credit or Swingline Loans in respect of which such Defaulting Lender has not   fully funded its appropriate share, and (2) such Loans were made or the related Letters of     

 

      - 60 -   Credit or Swingline Loans were issued at a time when the conditions set forth in   Section 6.2 were satisfied or waived, such payment shall be applied solely to pay the   Loans of, and funded participations in Letters of Credit or Swingline Loans owed to, all   Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any   Loans of, or funded participations in Letters of Credit or Swingline Loans owed to, such   Defaulting Lender until such time as all Loans and funded and unfunded participations in   L/C Obligations and Swingline Loans are held by the Lenders pro rata in accordance with   the Revolving Credit Commitments under the applicable Revolving Credit Facility   without giving effect to Section 5.15(a)(iv). Any payments, prepayments or other   amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts   owed by a Defaulting Lender or to post Cash Collateral pursuant to this   Section 5.15(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and   each Lender irrevocably consents hereto.   (iii) Certain Fees.   (A) No Defaulting Lender shall be entitled to receive any   Commitment Fee for any period during which that Lender is a Defaulting Lender   (and the Borrower shall not be required to pay any such fee that otherwise would   have been required to have been paid to that Defaulting Lender).   (B) Each Defaulting Lender shall be entitled to receive letter of   credit commissions pursuant to Section 3.3 for any period during which that   Lender is a Defaulting Lender only to the extent allocable to its Revolving Credit   Commitment Percentage of the stated amount of Letters of Credit for which it   has provided Cash Collateral pursuant to Section 5.14.   (C) With respect to any Commitment Fee or letter of credit   commission not required to be paid to any Defaulting Lender pursuant to clause   (A) or (B) above, the US Borrower shall (1) pay to each Non-Defaulting Lender   that portion of any such fee otherwise payable to such Defaulting Lender with   respect to such Defaulting Lender’s participation in L/C Obligations or Swingline   Loans that has been reallocated to such Non-Defaulting Lender pursuant to   clause (iv) below, (2) pay to each applicable Issuing Lender and Swingline   Lender, as applicable, the amount of any such fee otherwise payable to such   Defaulting Lender to the extent allocable to such Issuing Lender’s or Swingline   Lender’s Fronting Exposure to such Defaulting Lender, and (3) not be required to   pay the remaining amount of any such fee.   (iv) Reallocation of Participations to Reduce Fronting Exposure.  All or any   part of such Defaulting Lender’s participation in L/C Obligations and Swingline Loans   shall be reallocated among the Non-Defaulting Lenders in accordance with their   respective Revolving Credit Commitment Percentages (calculated without regard to such   Defaulting Lender’s Revolving Credit Commitment) but only to the extent that such   reallocation does not cause the aggregate Revolving Credit Exposure of any Non-   Defaulting Lender to exceed such Non-Defaulting Lender’s Revolving Credit   Commitment.  No reallocation hereunder shall constitute a waiver or release of any claim   of any party hereunder against a Defaulting Lender arising from that Lender having   become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result   of such Non-Defaulting Lender’s increased exposure following such reallocation.     

 

      - 61 -   (v) Cash Collateral, Repayment of Swingline Loans.  If the reallocation   described in clause (iv) above cannot, or can only partially, be effected, the US Borrower   shall, without prejudice to any right or remedy available to it hereunder or under law, (x)   first, repay Swingline Loans in an amount equal to the Swingline Lenders’ Fronting   Exposure and (y) second, Cash Collateralize the Issuing Lenders’ Fronting Exposure in   accordance with the procedures set forth in Section 5.14.   (b) Defaulting Lender Cure.  If the US Borrower, the Administrative Agent, the   Issuing Lenders and the Swingline Lender agree in writing that a Lender is no longer a Defaulting Lender,   the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in   such notice and subject to any conditions set forth therein (which may include arrangements with respect   to any Cash Collateral), such Lender will, to the extent applicable, purchase at par that portion of   outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may   determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit   and Swingline Loans to be held pro rata by the Lenders in accordance with the Commitments under the   applicable Credit Facility (without giving effect to Section 5.15(a)(iv)), whereupon such Lender will   cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to   fees accrued or payments made by or on behalf of the Borrowers while that Lender was a Defaulting   Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties,   no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of   any party hereunder arising from that Lender’s having been a Defaulting Lender.   Section 5.16 Non-US Borrowers.     (a) At any time after the Closing Date, so long as no Default or Event of Default has   occurred and is continuing or would result therefrom, US Borrower may elect to add any of its Foreign   Subsidiaries as a Non-US Borrower hereunder fifteen (15) days after delivery to the Administrative Agent   of a Notice of Non-US Borrower.  Each Non-US Borrower shall deliver to Administrative Agent (in each   case, in form and substance reasonably acceptable to Administrative Agent): (i) a Non-US Revolving   Credit Note in the form of Exhibit A-3 attached hereto, (ii) as to itself, the documents, agreements and   other instruments required under Sections 6.1(b), (c) and (e)(i) and (iii) a joinder to this Agreement in the   form attached to the Form of Notice of Non-US Borrower.   (b) Each Non-US Borrower that is or becomes a “Borrower” pursuant to this Section   5.16 hereby irrevocably appoints the US Borrower to act as its agent for all notice purposes of this   Agreement and the other Loan Documents and agrees that any notice or communication delivered by the   Administrative Agent or the Lender to the US Borrower shall be deemed delivered to each such Borrower   and the Administrative Agent or the Lenders may accept, and be permitted to rely on, any document,   instrument or agreement delivered by the US Borrower on behalf of each of the Credit Parties.   Section 5.17 Designated Lenders.  Each of the Administrative Agent, the Issuing Lenders, the   Swingline Lenders and each Lender at its option may make any Extension of Credit or otherwise perform   its obligations hereunder through any Lending Office (each, a “Designated Lender”); provided that any   exercise of such option shall not affect the obligation of Borrowers to repay any Extension of Credit in   accordance with the terms of this Agreement.  Any Designated Lender shall be considered a Lender;   provided that in the case of an Affiliate or branch of a Lender, such provisions that would be applicable   with respect to Extensions of Credit actually provided by such Affiliate or branch of such Lender shall   apply to such Affiliate or branch of such Lender to the same extent as such Lender; provided that for the   purposes only of voting in connection with any Loan Document, any participation by any Designated   Lender in any outstanding Extension of Credit shall be deemed a participation of such Lender.       

 

      - 62 -   ARTICLE VI     CONDITIONS OF CLOSING AND BORROWING   Section 6.1 Conditions to Closing and Initial Extensions of Credit.  The obligation of the   Lenders to close this Agreement and to make the initial Loans or issue or participate in the initial Letter of   Credit, if any, is subject to the satisfaction of each of the following conditions:   (a) Executed Loan Documents.  This Agreement, a Revolving Credit Note in favor   of each Revolving Credit Lender requesting a Revolving Credit Note, a Swingline Note in favor of the   Swingline Lender (in each case, if requested thereby), the Security Documents, together with any other   applicable Loan Documents, shall have been duly authorized, executed and delivered to the   Administrative Agent by the parties thereto, shall be in full force and effect and no Default or Event of   Default shall exist hereunder or thereunder.   (b) Closing Certificates; Etc.  The Administrative Agent shall have received each of   the following in form and substance reasonably satisfactory to the Administrative Agent:   (i) Officer’s Certificate.  A certificate from a Responsible Officer of the US   Borrower to the effect that (A) all representations and warranties of the Credit Parties   contained in this Agreement and the other Loan Documents are true, correct and   complete in all material respects (except to the extent any such representation and   warranty is qualified by materiality or reference to Material Adverse Effect, in which   case, such representation and warranty shall be true, correct and complete in all respects);   (B) none of the Credit Parties is in violation of any of the covenants contained in this   Agreement and the other Loan Documents; (C) after giving effect to the Transactions, no   Default or Event of Default has occurred and is continuing; (D) since September 30,   2015, no event has occurred or condition arisen, either individually or in the aggregate,   that has had or could reasonably be expected to have a Material Adverse Effect; and (E)    each of the Credit Parties, as applicable, has satisfied each of the conditions set forth in   Section 6.1 and Section 6.2.   (ii) Certificate of Responsible Officer of each Credit Party.  A certificate of a   Responsible Officer of each Credit Party certifying as to the incumbency and genuineness   of the signature of each officer of such Credit Party executing Loan Documents to which   it is a party and certifying that attached thereto is a true, correct and complete copy of   (A) the articles or certificate of incorporation or formation (or equivalent), as applicable,   of such Credit Party and all amendments thereto, certified as of a recent date by the   appropriate Governmental Authority in its jurisdiction of incorporation, organization or   formation (or equivalent), as applicable, (B) the bylaws or other governing document of   such Credit Party as in effect on the Closing Date, (C) resolutions duly adopted by the   board of directors (or other governing body) of such Credit Party authorizing and   approving the transactions contemplated hereunder and the execution, delivery and   performance of this Agreement and the other Loan Documents to which it is a party, and   (D) each certificate required to be delivered pursuant to Section 6.1(b)(iii).   (iii) Certificates of Good Standing.  Certificates as of a recent date of the   good standing of each Credit Party under the laws of its jurisdiction of incorporation,   organization or formation (or equivalent), as applicable, and, to the extent requested by   the Administrative Agent, each other jurisdiction where such Credit Party is qualified to   do business and, to the extent available, a certificate of the relevant taxing authorities of     

 

      - 63 -   such jurisdictions certifying that such Credit Party has filed required tax returns and owes   no delinquent taxes.   (iv) Opinions of Counsel.  Opinions of counsel to the Credit Parties   addressed to the Administrative Agent and the Lenders with respect to the Credit Parties,   the Loan Documents and such other matters as the Administrative Agent shall request   (which such opinions shall expressly permit reliance by permitted successors and assigns   of the Administrative Agent and the Lenders).   (c) Personal Property Collateral.   (i) Filings and Recordings.  The Administrative Agent shall have received   all filings and recordations that are necessary to perfect the security interests of the   Administrative Agent, on behalf of the Secured Parties, in the Collateral and the   Administrative Agent shall have received evidence reasonably satisfactory to the   Administrative Agent that upon such filings and recordations such security interests   constitute valid and perfected first priority Liens thereon (subject to Permitted Liens).   (ii) Pledged Collateral.  The Administrative Agent shall have received   original stock certificates or other certificates evidencing the certificated Capital Stock   pledged pursuant to the Security Documents, together with an undated stock power for   each such certificate duly executed in blank by the registered owner thereof.   (iii) Lien Search.  The Administrative Agent shall have received the results of   a Lien search (including a search as to judgments, pending litigation, bankruptcy, tax and   intellectual property matters), in form and substance reasonably satisfactory thereto,   made against the Credit Parties under the Uniform Commercial Code (or applicable   judicial docket) as in effect in each jurisdiction in which filings or recordations under the   Uniform Commercial Code should be made to evidence or perfect security interests in all   assets of such Credit Party, indicating among other things that the assets of each such   Credit Party are free and clear of any Lien (except for Permitted Liens).   (iv) Property and Liability Insurance.  The Administrative Agent shall have   received, in each case in form and substance reasonably satisfactory to the Administrative   Agent, evidence of property, business interruption and liability insurance covering each   Credit Party, evidence of payment of all insurance premiums for the current policy year   of each policy (with appropriate endorsements naming the Administrative Agent as   lender’s loss payee (and mortgagee, as applicable) on all policies for property hazard   insurance and as additional insured on all policies for liability insurance), and if requested   by the Administrative Agent, copies of such insurance policies.   (v) Other Collateral Documentation.  The Administrative Agent shall have   received any documents reasonably requested thereby or as required by the terms of the   Security Documents to evidence its security interest in the Collateral.     

 

      - 64 -   (d) Real Property Collateral.  The Administrative Agent shall have received an   amendment to the Mortgage to reflect the transactions contemplated by this Agreement.   (e) Consents; Defaults.   (i) Governmental and Third Party Approvals.  The Credit Parties shall have   received all material governmental, shareholder and third party consents and approvals   necessary (or any other material consents as determined in the reasonable discretion of   the Administrative Agent) in connection with the transactions contemplated by this   Agreement and the other Loan Documents and all applicable waiting periods shall have   expired without any action being taken by any Person that could reasonably be expected   to restrain, prevent or impose any material adverse conditions on any of the Credit Parties   or such other transactions or that could seek or threaten any of the foregoing, and no law   or regulation shall be applicable which in the reasonable judgment of the Administrative   Agent could reasonably be expected to have such effect.   (ii) No Injunction, Etc.  No action, proceeding or investigation shall have   been instituted, threatened or proposed before any Governmental Authority to enjoin,   restrain, or prohibit, or to obtain substantial damages in respect of, or which is related to   or arises out of this Agreement or the other Loan Documents or the consummation of the   transactions contemplated hereby or thereby, or which, in the Administrative Agent’s   sole discretion, would make it inadvisable to consummate the transactions contemplated   by this Agreement or the other Loan Documents or the consummation of the transactions   contemplated hereby or thereby.   (f) Financial Matters.   (i) Financial Statements.  The Administrative Agent shall have received   (A) the audited Consolidated balance sheet of the US Borrower and its Subsidiaries as of   December 31, 2014 and the related audited statements of income and retained earnings   and cash flows for the Fiscal Year then ended and (B) unaudited Consolidated balance   sheet of the Borrower and its Subsidiaries as of September 30, 2015 and related   unaudited interim statements of income and retained earnings.   (ii) Pro Forma Financial Statements.  The Administrative Agent shall have   received pro forma consolidated financial statements for the US Borrower and its   Subsidiaries for the four-quarter period most recently ended prior to the Closing Date for   which financial statements are available calculated on a Pro Forma Basis after giving   effect to the Transactions (prepared in accordance with Regulation S-X under the   Securities Act of 1933, and all other rules and regulations of the SEC under such   Securities Act, and including other adjustments previously agreed between the Borrowers   and the Arrangers) and a pro forma balance sheet of the US Borrower and its Subsidiaries   prepared from the financial statements for the calendar month ended immediately prior to   the Closing Date giving pro forma effect to the Transactions.   (iii) Financial Projections.  The Administrative Agent shall have received pro   forma Consolidated financial statements for the US Borrower and its Subsidiaries, and   projections prepared by management of the Borrowers, of balance sheets, income   statements and cash flow statements on a quarterly basis for the first year following the   Closing Date and on an annual basis for each year thereafter during the term of the Credit     

 

      - 65 -   Facility, which shall not be materially inconsistent with any financial information or   projections previously delivered to the Administrative Agent.   (iv) Financial Condition/Solvency Certificate.  The Borrowers shall have   delivered to the Administrative Agent a certificate, in form and substance satisfactory to   the Administrative Agent, and certified as accurate by the chief financial officer of the   Borrowers, that (A) after giving effect to the Transactions, the Credit Parties and their   Subsidiaries, taken as a whole, are Solvent, (B) the financial projections previously   delivered to the Administrative Agent represent the good faith estimates (utilizing   reasonable assumptions) of the financial condition and operations of the US Borrower   and its Subsidiaries.    (v) Payment at Closing.  The US Borrower shall have paid or made   arrangements to pay contemporaneously with closing (A) to the Administrative Agent,   the Arranger and the Lenders the fees set forth or referenced in Section 5.3 and any other   accrued and unpaid fees or commissions due hereunder, (B) all fees, charges and   disbursements of counsel to the Administrative Agent (directly to such counsel if   requested by the Administrative Agent) to the extent accrued and unpaid prior to or on   the Closing Date, plus such additional amounts of such fees, charges and disbursements   as shall constitute its reasonable estimate of such fees, charges and disbursements   incurred or to be incurred by it through the closing proceedings (provided that such   estimate shall not thereafter preclude a final settling of accounts between the US   Borrower and the Administrative Agent) and (C) to any other Person such amount as may   be due thereto in connection with the transactions contemplated hereby, including all   taxes, fees and other charges in connection with the execution, delivery, recording, filing   and registration of any of the Loan Documents.   (g) Miscellaneous.   (i) Notice of Account Designation.  The Administrative Agent shall have   received a Notice of Account Designation specifying the account or accounts to which   the proceeds of any Loans made on or after the Closing Date are to be disbursed.   (ii) Due Diligence.  The Administrative Agent shall have completed, to its   satisfaction, all legal, tax, environmental, business and other due diligence with respect to   the business, assets, liabilities, operations and condition (financial or otherwise) of the   US Borrower and its Subsidiaries in scope and determination satisfactory to the   Administrative Agent in its sole discretion.   (iii) Existing Indebtedness.  All existing Indebtedness of the US Borrower   and its Subsidiaries (including Indebtedness under the Existing Credit Agreement, but   excluding Indebtedness permitted pursuant to Section 9.1) shall be repaid in full, all   commitments (if any) in respect thereof shall have been terminated and all guarantees   therefor and security therefor shall be released, and the Administrative Agent shall have   received pay-off letters in form and substance satisfactory to it evidencing such   repayment, termination and release.   (iv) PATRIOT Act, etc.  The US Borrower and each of the Subsidiary   Guarantors shall have provided to the Administrative Agent and the Lenders the   documentation and other information requested by the Administrative Agent in order to     

 

      - 66 -   comply with requirements of the PATRIOT Act, applicable “know your customer” and   anti-money laundering rules and regulations.   (v) Other Documents.  All opinions, certificates and other instruments and   all proceedings in connection with the transactions contemplated by this Agreement shall   be satisfactory in form and substance to the Administrative Agent.  The Administrative   Agent shall have received copies of all other documents, certificates and instruments   reasonably requested thereby, with respect to the transactions contemplated by this   Agreement.   Without limiting the generality of the provisions of Section 11.3(c), for purposes of determining   compliance with the conditions specified in this Section 6.1, the Administrative Agent and each Lender   that has signed this Agreement 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 a Lender unless the Administrative Agent shall have received notice from   such Lender prior to the proposed Closing Date specifying its objection thereto.   Section 6.2 Conditions to All Extensions of Credit.  The obligations of the Lenders to make   or participate in any Extensions of Credit (including the initial Extension of Credit), convert or continue   any Loan and/or any Issuing Lender to issue or extend any Letter of Credit are subject to the satisfaction   of the following conditions precedent on the relevant borrowing, continuation, conversion, issuance or   extension date:   (a) Continuation of Representations and Warranties.  The representations and   warranties contained in Article VII shall be true and correct in all material respects, except for any   representation and warranty that is qualified by materiality or reference to Material Adverse Effect, which   such representation and warranty shall be true and correct in all respects, on and as of such borrowing,   continuation, conversion, issuance or extension date with the same effect as if made on and as of such   date (except for any such representation and warranty that by its terms is made only as of an earlier date,   which representation and warranty shall remain true and correct in all material respects as of such earlier   date, except for any representation and warranty that is qualified by materiality or reference to Material   Adverse Effect, which such representation and warranty shall be true and correct in all respects as of such   earlier date).   (b) No Existing Default.  No Default or Event of Default shall have occurred and be   continuing (i) on the borrowing, continuation or conversion date with respect to such Loan or after giving   effect to the Loans to be made, continued or converted on such date or (ii) on the issuance or extension   date with respect to such Letter of Credit or after giving effect to the issuance or extension of such Letter   of Credit on such date.   (c) Notices.  The Administrative Agent shall have received a Notice of Borrowing,   Letter of Credit Application, or Notice of Conversion/Continuation, as applicable, from the US Borrower   in accordance with Section 2.3(a), Section 3.2, Section 4.2 or Section 5.2, as applicable.   (d) Additional Documents.  The Administrative Agent shall have received each   additional document, instrument, legal opinion or other item reasonably requested by it.   (e) New Swingline Loans/Letters of Credit.  So long as any Lender is a Defaulting   Lender, (i) the Swingline Lender shall not be required to fund any Swingline Loans unless it is satisfied   that it will have no Fronting Exposure after giving effect to such Swingline Loan and (ii) the Issuing     

 

      - 67 -   Lender shall not be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied   that it will have no Fronting Exposure after giving effect thereto.   (f) Alternative Currency Credit Extensions. In the case of a Credit Extension to be   denominated in an Alternative Currency, there shall not have occurred any change in national or   international financial, political or economic conditions or currency exchange rates or exchange controls   which in the reasonable opinion of the Administrative Agent or the Required Lenders (in the case of any   Loans to be denominated in an Alternative Currency) would make it impracticable for such Credit   Extension to be denominated in the relevant Alternative Currency.  Each Lender shall have obtained all   applicable licenses, consents, permits and approvals as deemed necessary by such Lender in order to   execute and perform the transactions contemplated by the Loan Documents and the requested Alternative   Currency Credit Extension.   ARTICLE VII     REPRESENTATIONS AND WARRANTIES OF THE CREDIT PARTIES   To induce the Administrative Agent and Lenders to enter into this Agreement and to induce the   Lenders to make Extensions of Credit, each Borrower hereby represents and warrants to the   Administrative Agent and the Lenders both before and after giving effect to the transactions contemplated   hereunder, which representations and warranties shall be deemed made on the Closing Date and as   otherwise set forth in Section 6.2, that:   Section 7.1 Organization; Power; Qualification.  Each Credit Party and each Material   Foreign Subsidiary (a) is duly organized, validly existing and in good standing under the laws of the   jurisdiction of its incorporation or formation, (b) has the power and authority to own its Properties and to   carry on its business as now being and hereafter proposed to be conducted and (c) is duly qualified and   authorized to do business in each jurisdiction in which the character of its Properties or the nature of its   business requires such qualification and authorization except in jurisdictions where the failure to be so   qualified or in good standing could not reasonably be expected to result in a Material Adverse Effect.    The jurisdictions in which each Credit Party and each Material Foreign Subsidiary are organized and   qualified to do business as of the Closing Date are described on Schedule 7.1.   Section 7.2 Ownership.  Each Subsidiary of each Credit Party as of the Closing Date is listed   on Schedule 7.2.  As of the Closing Date, the capitalization of each Credit Party and its Subsidiaries   consists of the number of shares, authorized, issued and outstanding, of such classes and series, with or   without par value, described on Schedule 7.2.  All outstanding shares have been duly authorized and   validly issued and are fully paid and nonassessable and not subject to any preemptive or similar rights,   except as described in Schedule 7.2.  The shareholders or other owners, as applicable, of each Credit   Party (other than the US Borrower) and its Subsidiaries and the number of shares owned by each as of the   Closing Date are described on Schedule 7.2.  As of the Closing Date, there are no outstanding stock   purchase warrants, subscriptions, options, securities, instruments or other rights of any type or nature   whatsoever, which are convertible into, exchangeable for or otherwise provide for or require the issuance   of Capital Stock of any Credit Party or any Subsidiary thereof, except as described on Schedule 7.2.   Section 7.3 Authorization; Enforceability.  Each Credit Party and each Material Foreign   Subsidiary has the right, power and authority and has taken all necessary corporate and other action to   authorize the execution, delivery and performance of this Agreement and each of the other Loan   Documents to which it is a party in accordance with their respective terms.  This Agreement and each of   the other Loan Documents have been duly executed and delivered by the duly authorized officers of each   Credit Party and each Material Foreign Subsidiary that is a party thereto, and each such document   constitutes the legal, valid and binding obligation of each Credit Party and each Material Foreign     

 

      - 68 -   Subsidiary that is a party thereto, enforceable in accordance with its terms, except as such enforceability   may be limited by bankruptcy, insolvency, reorganization, moratorium or similar state or federal Debtor   Relief Laws from time to time in effect which affect the enforcement of creditors’ rights in general and   the availability of equitable remedies.   Section 7.4 Compliance of Agreement, Loan Documents and Borrowing with Laws, Etc.    The execution, delivery and performance by each Credit Party and each Material Foreign Subsidiary of   the Loan Documents to which each such Person is a party, in accordance with their respective terms, the   Extensions of Credit hereunder and the transactions contemplated hereby or thereby do not and will not,   by the passage of time, the giving of notice or otherwise, (a) require any Governmental Approval or   violate any material provision of Applicable Law relating to any Credit Party or any Material Foreign   Subsidiary, (b) conflict with, result in a breach of or constitute a default under the articles of   incorporation, bylaws or other organizational documents of any Credit Party or any Material Foreign   Subsidiary, (c) conflict with, result in a breach of or constitute a default under any indenture, agreement   or other instrument to which such Person is a party or by which any of its properties may be bound or any   Governmental Approval relating to such Person, which could, individually or in the aggregate, reasonably   be expected to have a Material Adverse Effect, (d) result in or require the creation or imposition of any   Lien upon or with respect to any property now owned or hereafter acquired by such Person other than   Permitted Liens or (e) require any consent or authorization of, filing with, or other act in respect of, an   arbitrator or Governmental Authority and no consent of any other Person is required in connection with   the execution, delivery, performance, validity or enforceability of this Agreement other than (i) consents,   authorizations, filings or other acts or consents obtained or for which the failure to obtain or make could   not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect,   (ii) consents or filings under the UCC, (iii) filings with the United States Copyright Office and/or the   United States Patent and Trademark Office and (iv) Mortgage filings with the applicable county recording   office or register of deeds.   Section 7.5 Compliance with Law; Governmental Approvals.  Each Credit Party and each   Material Foreign Subsidiary (a) has all Governmental Approvals required by any Applicable Law for it to   conduct its business, each of which is in full force and effect, is final and not subject to review on appeal   and is not the subject of any pending or, to its Knowledge, threatened attack by direct or collateral   proceeding, (b) is in compliance with each Governmental Approval applicable to it and in compliance   with all other Applicable Laws relating to it or any of its respective properties and (c) has timely filed all   material reports, documents and other materials required to be filed by it under all Applicable Laws with   any Governmental Authority and has retained all material records and documents required to be retained   by it under Applicable Law except in each case (a), (b) or (c) where the failure to have, comply or file   could not reasonably be expected to have a Material Adverse Effect.   Section 7.6 Tax Returns and Payments.  Each Credit Party and each Material Foreign   Subsidiary has duly filed or caused to be filed all federal, state, local and other material tax returns   required by Applicable Law to be filed, and has paid, or made adequate provision for the payment of, all   federal, state, local and other material taxes, assessments and governmental charges or levies upon it and   its property, income, profits and assets which are due and payable (other than any amount the validity of   which is currently being contested in good faith by appropriate proceedings and with respect to which   reserves in conformity with GAAP have been provided for on the books of the relevant Credit Party).    Such returns accurately reflect in all material respects all liability for taxes of any Credit Party or any   Material Foreign Subsidiary for the periods covered thereby.  As of the Closing Date, except as set forth   on Schedule 7.6, there is no ongoing audit or examination or, to the Knowledge of the US Borrower,   other investigation by any Governmental Authority of the tax liability of any Credit Party or any Material   Foreign Subsidiary.  No Governmental Authority has asserted any Lien or other claim against any Credit   Party or any Material Foreign Subsidiary with respect to unpaid taxes which has not been discharged or     

 

      - 69 -   resolved (other than (a) any amount the validity of which is currently being contested in good faith by   appropriate proceedings and with respect to which reserves in conformity with GAAP have been provided   for on the books of the relevant Credit Party and (b) Permitted Liens).  The charges, accruals and reserves   on the books of each Credit Party and each Material Foreign Subsidiary in respect of federal, state, local   and other taxes for all Fiscal Years and portions thereof since the organization of any Credit Party or any   Material Foreign Subsidiary are in the judgment of the US Borrower adequate, and the US Borrower does   not anticipate any additional taxes or assessments for any of such years.   Section 7.7 Intellectual Property Matters.  Each Credit Party and each Subsidiary thereof   owns or possesses rights to use all material franchises, licenses, copyrights, copyright applications,   patents, patent rights or licenses, patent applications, trademarks, trademark rights, service mark, service   mark rights, trade names, trade name rights, copyrights and other rights with respect to the foregoing   which are reasonably necessary to conduct its business.  To the Knowledge of the US Borrower, no event   has occurred which permits, or after notice or lapse of time or both would permit, the revocation or   termination of any such rights, and no Credit Party nor any Subsidiary thereof is liable to any Person for   infringement under Applicable Law with respect to any such rights as a result of its business operations   except as could not reasonably be expected to have a Material Adverse Effect.   Section 7.8 Environmental Matters.   (a) The properties owned, leased or operated by each Credit Party now do not and as   to properties formerly owned, leased or operated, at the time, did not contain, and to their Knowledge   have not previously contained, any Hazardous Materials in amounts or concentrations which constitute or   constituted a violation of applicable Environmental Laws; or have contamination at, under or about such   properties or such operations, except to the extent any such violation, individually or in the aggregate,   could not reasonably be expected to result in a Material Adverse Effect;   (b) Each Credit Party and such properties and all operations conducted in connection   therewith are in compliance, and have been in compliance, with all applicable Environmental Laws   except to the extent for any failures to comply which, individually or in the aggregate, could reasonably   be expected to result in a Material Adverse Effect, and there is no contamination at, under or about such   properties or such operations which could interfere with the continued operation of such properties or   impair the fair saleable value thereof;   (c) No Credit Party has received any written notice of violation, alleged violation,   non-compliance, liability or potential liability regarding environmental matters, Hazardous Materials, or   compliance with Environmental Laws, nor does any Credit Party have Knowledge or reason to believe   that any such notice will be received or is being threatened;   (d) Hazardous Materials have not been transported or disposed of to or from the   properties owned, leased or operated by any Credit Party in violation of, or in a manner or to a location   which could give rise to liability under, Environmental Laws which violation or liability could reasonably   be expected to have a Material Adverse Effect, nor have any Hazardous Materials been generated, treated,   stored or disposed of at, on or under any of such properties in violation of, or in a manner that could give   rise to liability under, any applicable Environmental Laws which violation or liability could reasonably be   expected to have a Material Adverse Effect;   (e) No judicial proceedings or governmental or administrative action is pending, or,   to the knowledge of any Credit Party, threatened, under any Environmental Law to which any Credit   Party is or will be named as a potentially responsible party with respect to such properties or operations   conducted in connection therewith, nor are there any consent decrees or other decrees, consent orders,     

 

      - 70 -   administrative orders or other orders, or other administrative or judicial requirements outstanding under   any Environmental Law with respect to any Credit Party or such properties or such operations that could   reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect; and   (f) There has been no release, or to the best Knowledge of the Credit Parties, threat   of release, of Hazardous Materials at or from properties owned, leased or operated by any Credit Party,   now or in the past, in violation of or in amounts or in a manner that could give rise to liability under   Environmental Laws that could reasonably be expected, individually or in the aggregate, to have a   Material Adverse Effect.   Section 7.9 Employee Benefit Matters.   (a) As of the Closing Date, no Credit Party nor any ERISA Affiliate maintains or   contributes to, or has any obligation under, any Employee Benefit Plans other than those identified on   Schedule 7.9;   (b) Each Credit Party and each ERISA Affiliate is in compliance with all applicable   provisions of ERISA, the Code and the regulations and published interpretations thereunder with respect   to all Employee Benefit Plans except for any required amendments for which the remedial amendment   period as defined in Section 401(b) of the Code has not yet expired and except where a failure to so   comply could not reasonably be expected to have a Material Adverse Effect.  Each Employee Benefit   Plan that is intended to be qualified under Section 401(a) of the Code has been determined by the IRS to   be so qualified, and each trust related to such plan has been determined to be exempt under Section 501(a)   of the Code except for such plans that have not yet received determination letters but for which the   remedial amendment period for submitting a determination letter has not yet expired.  No liability has   been incurred by any Credit Party or any ERISA Affiliate which remains unsatisfied for any taxes or   penalties assessed with respect to any Employee Benefit Plan or any Multiemployer Plan except for a   liability that could not reasonably be expected to have a Material Adverse Effect;   (c) As of the Closing Date, no Pension Plan has been terminated, nor has any   Pension Plan become subject to funding based benefit restrictions under Section 436 of the Code (except   as set forth on Schedule 7.9), nor has any funding waiver from the IRS been received or requested with   respect to any Pension Plan, nor has any Credit Party or any ERISA Affiliate failed to make any   contributions or to pay any amounts due and owing as required by Sections 412 or 430 of the Code,   Section 302 of ERISA or the terms of any Pension Plan on or prior to the due dates of such contributions   under Sections 412 or 430 of the Code or Section 302 of ERISA, nor has there been any event requiring   any disclosure under Section 4041(c)(3)(C) or 4063(a) of ERISA with respect to any Pension Plan;   (d) Except where the failure of any of the following representations to be correct   could not reasonably be expected to have a Material Adverse Effect, no Credit Party nor any ERISA   Affiliate has:  (i) engaged in a nonexempt prohibited transaction described in Section 406 of the ERISA   or Section 4975 of the Code, (ii) incurred any liability to the PBGC which remains outstanding other than   the payment of premiums and there are no premium payments which are due and unpaid, (iii) failed to   make a required contribution or payment to a Multiemployer Plan, or (iv) failed to make a required   installment or other required payment under Sections 412 or 430 of the Code;   (e) No Termination Event has occurred or is reasonably expected to occur that could   reasonably be expected to result in a Material Adverse Effect;   (f) Except where the failure of any of the following representations to be correct in   all material respects could not reasonably be expected to have a Material Adverse Effect, no proceeding,     

 

      - 71 -   claim (other than a benefits claim in the ordinary course of business), lawsuit and/or investigation is   existing or, to its Knowledge, threatened concerning or involving (i) any employee welfare benefit plan   (as defined in Section 3(1) of ERISA) currently maintained or contributed to by any Credit Party or any   ERISA Affiliate, (ii) any Pension Plan or (iii) any Multiemployer Plan.   (g) No Credit Party nor any Subsidiary thereof is a party to any contract, agreement   or arrangement that could, solely as a result of the delivery of this Agreement or the consummation of   transactions contemplated hereby, result in the payment of any “excess parachute payment” within the   meaning of Section 280G of the Code.   Section 7.10 Margin Stock.  No Credit Party nor any Subsidiary thereof is engaged principally   or as one of its activities in the business of extending credit for the purpose of “purchasing” or “carrying”   any “margin stock” (as each such term is defined or used, directly or indirectly, in Regulation U of the   Board of Governors of the Federal Reserve System).  No part of the proceeds of any of the Loans or   Letters of Credit will be used for purchasing or carrying margin stock or for any purpose which violates,   or which would be inconsistent with, the provisions of Regulation T, U or X of such Board of Governors.    Following the application of the proceeds of each Extension of Credit, not more than twenty-five percent   (25%) of the value of the assets (either of the US Borrower only or of the US Borrower and its   Subsidiaries on a Consolidated basis) subject to the provisions of Section 9.2 or Section 9.5 or subject to   any restriction contained in any agreement or instrument between any Borrower and any Lender or any   Affiliate of any Lender relating to Indebtedness in excess of the Threshold Amount will be “margin   stock”.   Section 7.11 Government Regulation.  No Credit Party nor any Subsidiary thereof is an   “investment company” or a company “controlled” by an “investment company” (as each such term is   defined or used in the Investment Company Act of 1940) and no Credit Party nor any Subsidiary thereof   is, or after giving effect to any Extension of Credit will be, subject to regulation under the Interstate   Commerce Act, or any other Applicable Law which limits its ability to incur or consummate the   transactions contemplated hereby.   Section 7.12 Reserved.     Section 7.13 Employee Relations.  No Credit Party nor any Material Foreign Subsidiary is   party to any collective bargaining agreement, nor has any labor union been recognized as the   representative of its employees except as set forth on Schedule 7.13.  None of the Credit Parties and   Material Foreign Subsidiaries knows of any pending, threatened or contemplated strikes, work stoppage   or other collective labor disputes involving its employees that, individually or in the aggregate, could   reasonably be expected to have a Material Adverse Effect.   Section 7.14 Burdensome Provisions.  The Credit Parties and their respective Subsidiaries do   not presently anticipate that future expenditures needed to meet the provisions of any statutes, orders,   rules or regulations of a Governmental Authority will be so burdensome as to have a Material Adverse   Effect.  No Subsidiary is party to any agreement or instrument or otherwise subject to any restriction or   encumbrance that restricts or limits its ability to make dividend payments or other distributions in respect   of its Capital Stock to the US Borrower or any Subsidiary or to transfer any of its assets or properties to   the US Borrower or any other Subsidiary in each case other than existing under or by reason of the Loan   Documents or Applicable Law.   Section 7.15 Financial Statements.  The audited and unaudited financial statements delivered   pursuant to Section 6.1(f)(i) are complete and correct and fairly present on a Consolidated basis the assets,   liabilities and financial position of the US Borrower and its Subsidiaries, in all material respects as at such     

 

      - 72 -   dates, and the results of the operations and changes of financial position for the periods then ended (other   than customary year-end adjustments for unaudited financial statements and the absence of footnotes   from unaudited financial statements).  All such financial statements, including the related schedules and   notes thereto, have been prepared in accordance with GAAP.  Such financial statements show all material   indebtedness and other material liabilities, direct or contingent, of the Borrower and its Subsidiaries as of   the date thereof, including material liabilities for taxes, material commitments, and Indebtedness, in each   case, to the extent required to be disclosed under GAAP.  The pro forma financial statements delivered   pursuant to Section 6.1(f)(ii) and the projections delivered pursuant to Section 6.1(f)(iii) and were   prepared in good faith on the basis of the assumptions stated therein, which assumptions are believed to   be reasonable in light of then existing conditions except that such financial projections and statements   shall be subject to normal year end closing and audit adjustments (it being recognized by the Lenders that   projections are not to be viewed as facts and that the actual results during the period or periods covered by   such projections may vary from such projections).   Section 7.16 No Material Adverse Change.  Since September 30, 2015, there has been no   material adverse change in the properties, business, operations or condition (financial or otherwise) of the   US Borrower and its Subsidiaries and no event has occurred or condition arisen, either individually or in   the aggregate, that could reasonably be expected to have a Material Adverse Effect.   Section 7.17 Solvency.  Borrower and its Subsidiaries, taken as a whole, are Solvent.   Section 7.18 Title to Properties.  As of the Closing Date, the real property listed on Schedule   7.18 constitutes all of the real property that is owned, leased, subleased or used by any Credit Party or any   of its Material Foreign Subsidiaries.  Each Credit Party and each Material Foreign Subsidiary has such   title to the real property owned or leased by it as is necessary or desirable to the conduct of its business   and valid and legal title to all of its personal property and assets, except those which have been disposed   of by the Credit Parties and their Material Foreign Subsidiaries subsequent to such date which   dispositions have been in the ordinary course of business or as otherwise expressly permitted hereunder.   Section 7.19 Litigation.  There are no actions, suits or proceedings pending nor, to the   Knowledge of any Borrower, threatened against or in any other way relating adversely to or affecting any   Credit Party or any Material Foreign Subsidiary or any of their respective properties in any court or   before any arbitrator of any kind or before or by any Governmental Authority that could reasonably be   expected to have a Material Adverse Effect.   Section 7.20 Anti-Corruption Laws and Sanctions.  None of (a) the US Borrower, any   Subsidiary or to the Knowledge of the US Borrower any of their respective directors, officers or   employees, or (b) to the Knowledge of the US Borrower, any agent of the US Borrower or any Subsidiary   that will act in any capacity in connection with or benefit from the credit facility established hereby, (i) is   a Sanctioned Person or currently the subject or target of any Sanctions or (ii) has taken any action,   directly or indirectly, that would result in a violation by such Persons of any Anti-Corruption Laws.   Section 7.21 Absence of Defaults.  No event has occurred or is continuing (a) which   constitutes a Default or an Event of Default, or (b) which constitutes, or which with the passage of time or   giving of notice or both would constitute, a default or event of default by any Credit Party or any Material   Foreign Subsidiary under any judgment, decree or order to which any Credit Party or any Material   Foreign Subsidiary is a party or by which any Credit Party or any Material Foreign Subsidiary or any of   their respective properties may be bound or which would require any Credit Party or any Material Foreign   Subsidiary to make any payment thereunder prior to the scheduled maturity date therefor that, in any case   under this clause (b), could, either individually or in the aggregate, reasonably be expected to have a   Material Adverse Effect.     

 

      - 73 -   Section 7.22 Senior Indebtedness Status.  The Obligations of each Credit Party and each   Subsidiary thereof under this Agreement and each of the other Loan Documents ranks and shall continue   to rank at least senior in priority of payment to all Subordinated Indebtedness and all senior unsecured   Indebtedness of each such Person and is designated as “Senior Indebtedness” under all instruments and   documents, now or in the future, relating to all Subordinated Indebtedness and all senior unsecured   Indebtedness of such Person.   Section 7.23 Disclosure.  No financial statement, material report, material certificate or other   material information furnished in writing by or on behalf of any Credit Party or any Material Foreign   Subsidiary to the Administrative Agent or any Lender in connection with the transactions contemplated   hereby and the negotiation of this Agreement or delivered hereunder (as modified or supplemented by   other information so furnished), taken together as a whole, contains any untrue statement of a material   fact or omits to state any material fact necessary to make the statements therein, in the light of the   circumstances under which they were made, not misleading; provided that, with respect to projected   financial information, pro forma financial information, estimated financial information and other   projected, estimated or forward looking information, such information was prepared in good faith based   upon assumptions believed to be reasonable at the time.   ARTICLE VIII     AFFIRMATIVE COVENANTS   Until all of the Obligations (other than contingent indemnification obligations not then due) have   been paid and satisfied in full in cash, all Letters of Credit have been terminated or expired (or been Cash   Collateralized) and the Commitments terminated, each Borrower will, and to the extent specifically   provided below, will cause each of its Subsidiaries to:   Section 8.1 Financial Statements and Budgets.  Deliver to the Administrative Agent, in form   and detail satisfactory to the Administrative Agent (which shall promptly make such information   available to the Lenders in accordance with its customary practice):   (a) Annual Financial Statements.  As soon as available and in any event within   ninety (90) days (or, if earlier, on the date of any required public filing thereof) after the end of each   Fiscal Year (commencing with the Fiscal Year ended December 31, 2015), a Consolidated and   consolidating balance sheet of the US Borrower and its Subsidiaries as of the close of such Fiscal Year   and Consolidated and consolidating statements of income, Consolidated stockholders’ equity and   Consolidated cash flows including the notes to the Consolidated statements, all in reasonable detail   setting forth in comparative form the corresponding figures as of the end of and for the preceding Fiscal   Year and with respect to Consolidated statements prepared in accordance with GAAP and, if applicable,   containing disclosure of the effect on the financial position or results of operations of any change in the   application of accounting principles and practices during the year.  In the case of the Consolidated   financial statements, such statements shall be audited by Deliotte LLP or other independent certified   public accounting firm of recognized national standing selected by Borrower and reasonably satisfactory   to the Administrative Agent, and accompanied by a report and opinion thereon by such certified public   accountants prepared in accordance with generally accepted auditing standards that is not subject to any   “going concern” or similar qualification or exception or any qualification as to the scope of such audit or   with respect to accounting principles followed by the US Borrower or any of its Subsidiaries not in   accordance with GAAP.   (b) Quarterly Financial Statements.  As soon as practicable and in any event within   forty-five  (45) days (or, if earlier, on the date of any required public filing thereof) after the end of the   first three fiscal quarters of each Fiscal Year (commencing with the fiscal quarter ended March 31, 2016),     

 

      - 74 -   an unaudited Consolidated and consolidating balance sheet of the US Borrower and its Subsidiaries as of   the close of such fiscal quarter and unaudited Consolidated and consolidating statements of income,   Consolidated stockholders’ equity and Consolidated cash flows and a report containing management’s   discussion and analysis of such financial statements for the fiscal quarter then ended and that portion of   the Fiscal Year then ended, including the notes to the Consolidated statements, all in reasonable detail   setting forth in comparative form the corresponding figures as of the end of and for the corresponding   period in the preceding Fiscal Year and with respect to the Consolidated statements, prepared by the US   Borrower in accordance with GAAP and, if applicable, containing required disclosure of the effect on the   financial position or results of operations of any change in the application of accounting principles and   practices during the period, and with respect to Consolidated statements, certified by the chief financial   officer of the US Borrower to present fairly in all material respects the financial condition of the US   Borrower and its Subsidiaries on a Consolidated basis as of their respective dates and the results of   operations of the US Borrower and its Subsidiaries for the respective periods then ended, subject to   normal year-end adjustments and the absence of footnotes.   (c) Annual Business Plan and Budget.  As soon as practicable and in any event   within the earlier of (A) three (3) Business Days after approval by the Board of Directors of the US   Borrower and (B) seventy-five (75) days after the end of each Fiscal Year, a business plan and operating   and capital budget of the US Borrower and its Subsidiaries for the ensuing four (4) fiscal quarters.   Section 8.2 Certificates; Other Reports.  Deliver to the Administrative Agent (which shall   promptly make such information available to the Lenders in accordance with its customary practice):   (a) at each time financial statements are delivered pursuant to Sections 8.1(a) or (b) a   duly completed Officer’s Compliance Certificate signed by a Responsible Officer of the US Borrower;   (b) reserved;   (c) promptly upon receipt thereof (unless restricted by applicable professional   standards with respect to which mutually agreeable arrangements cannot be made to permit disclosure   thereof), copies of all management reports (and management responses thereto, if any) submitted to any   Credit Party, any Subsidiary thereof or any of their respective boards of directors by their respective   independent public accountants in connection with their auditing function;   (d) promptly after the furnishing thereof, copies of any statement or report furnished   to any holder of Indebtedness of any Credit Party or any Material Foreign Subsidiary in excess of the   Threshold Amount pursuant to the terms of any indenture, loan or credit or similar agreement;   (e) promptly after the US Borrower’s Knowledge of the assertion or occurrence   thereof, notice of any action or proceeding against or of any noncompliance by any Credit Party or any   Material Foreign Subsidiary with any Environmental Law that could reasonably be expected to have a   Material Adverse Effect;   (f) promptly after the same are available, copies of each annual report, proxy or   financial statement or other report or communication sent to the stockholders of the US Borrower, and   copies of all annual, regular, periodic and special reports and registration statements which the US   Borrower may file or be required to file with the SEC under Section 13 or 15(d) of the Exchange Act, or   with any national securities exchange, and in any case not otherwise required to be delivered to the   Administrative Agent pursuant hereto;     

 

      - 75 -   (g) promptly, and in any event within ten (10) Business Days after receipt thereof by   the US Borrower, copies of each notice or other correspondence received from the SEC (or comparable   agency in any applicable non-U.S. jurisdiction) concerning any investigation or possible investigation or   other inquiry by such agency regarding financial or other operational results of any Credit Party or any   Subsidiary thereof;   (h) promptly upon the request thereof, such other information and documentation   required by bank regulatory authorities under applicable “know your customer” and anti-money   laundering rules and regulations (including, without limitation, the PATRIOT Act), as from time to time   reasonably requested by the Administrative Agent or any Lender; and   (i) such other information regarding the operations, business affairs and financial   condition of any Credit Party or any Subsidiary thereof as the Administrative Agent or any Lender may   reasonably request.   Documents required to be delivered pursuant to Section 8.1(a) or (b) or Section 8.2(f) (to the extent any   such documents are included in materials otherwise filed with the SEC) may be delivered electronically   and if so delivered, shall be deemed to have been delivered on the date (i) on which the US Borrower   posts such documents, or provides a link thereto on the US Borrower’s website on the Internet at the   website address listed in Section 12.1; or (ii) on which such documents are posted on the US Borrower’s   behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have   access (whether a commercial, third-party website or whether sponsored by the Administrative Agent);   provided that: (i) the US Borrower shall deliver paper copies of such documents to the Administrative   Agent or any Lender that requests the US Borrower to deliver such paper copies until a written request to   cease delivering paper copies is given by the Administrative Agent or such Lender and (ii) the US   Borrower shall notify the Administrative Agent and each Lender (by facsimile or electronic mail) of the   posting of any such documents and provide to the Administrative Agent by electronic mail electronic   versions of such documents.  Notwithstanding anything contained herein, in every instance the US   Borrower shall be required to provide copies of the Officer’s Compliance Certificates required by   Section 8.2 directly to the Administrative Agent.  Except for such Officer’s Compliance Certificates, the   Administrative Agent shall have no obligation to request the delivery or to maintain copies of the   documents referred to above, and in any event shall have no responsibility to monitor compliance by the   US Borrower with any such request for delivery, and each Lender shall be solely responsible for   requesting delivery to it or maintaining its copies of such documents.   Section 8.3 Notice of Litigation and Other Matters.  Promptly (but in no event later than ten   (10) days after any Responsible Officer of any Borrower obtains Knowledge thereof) notify the   Administrative Agent in writing of (which shall promptly make such information available to the Lenders   in accordance with its customary practice):   (a) the occurrence of any Default or Event of Default;   (b) the commencement of all proceedings and investigations by or before any   Governmental Authority and all actions and proceedings in any court or before any arbitrator against or   involving any Credit Party or any Material Foreign Subsidiary or any of their respective properties, assets   or businesses in each case that if adversely determined could reasonably be expected to result in a liability   in excess of the Threshold Amount;   (c) any notice of any violation received by any Credit Party or any Material Foreign   Subsidiary from any Governmental Authority including, without limitation, any notice of violation of   Environmental Laws exceeding the Threshold Amount;     

 

      - 76 -   (d) any labor controversy that has resulted in, or threatens to result in, a long-term   strike or other work action against any Credit Party or any Material Foreign Subsidiary;   (e) any attachment, judgment, lien, levy or order exceeding the Threshold Amount   that may be assessed against or threatened in writing against any Credit Party or any Material Foreign   Subsidiary;   (f) the occurrence of any Termination Event that, alone or together with any other   Termination Events that have occurred, could reasonably be expected to result in a Material Adverse   Effect; and   (g) any event which makes any of the representations set forth in Article VII that is   subject to materiality or Material Adverse Effect qualifications inaccurate in any respect or any event   which makes any of the representations set forth in Article VII that is not subject to materiality or   Material Adverse Effect qualifications inaccurate in any material respect.   Each notice pursuant to Section 8.3 shall be accompanied by a statement of a Responsible Officer   of the US Borrower setting forth details of the occurrence referred to therein and stating what action the   US Borrower has taken and proposes to take with respect thereto.  Each notice pursuant to Section 8.3(a)   shall describe with particularity any and all provisions of this Agreement and any other Loan Document   that have been breached.   Section 8.4 Preservation of Corporate Existence and Related Matters.  Except as permitted by   Section 9.4, preserve and maintain each Credit Party’s and each Material Foreign Subsidiary’s separate   corporate existence and all rights, franchises, licenses and privileges necessary to the conduct of its   business, and qualify and remain qualified as a foreign corporation or other entity and authorized to do   business in each jurisdiction in which the failure to so qualify could reasonably be expected to have a   Material Adverse Effect.   Section 8.5 Maintenance of Property and Licenses.   (a) In addition to the requirements of any of the Security Documents, protect and   preserve all Properties necessary in and material to each Credit Party’s and each Material Foreign   Subsidiary’s business, including copyrights, patents, trade names, service marks and trademarks; maintain   in good working order and condition, ordinary wear and tear excepted, all buildings, equipment and other   tangible real and personal property; and from time to time make or cause to be made all repairs, renewals   and replacements thereof and additions to such Property necessary for the conduct of its business, so that   the business carried on in connection therewith may be conducted in a commercially reasonable manner,   in each case except as such action or inaction would not reasonably be expected to result in a Material   Adverse Effect.   (b) Maintain, in full force and effect in all material respects, each and every material   license, permit, certification, qualification, approval or franchise issued by any Governmental Authority   (each a “License”) required for each of each Credit Party and each Material Foreign Subsidiary to conduct   their respective businesses as presently conducted.   Section 8.6 Insurance.  Maintain insurance with financially sound and reputable insurance   companies against at least such risks and in at least such amounts as are customarily maintained by   similar businesses and as may be required by Applicable Law and as are required by any Security   Documents (including, without limitation, hazard and business interruption insurance).  All such   insurance shall, (a) provide that no cancellation or material modification thereof shall be effective until at     

 

      - 77 -   least 30 days after receipt by the Administrative Agent of written notice thereof, (b) name the   Administrative Agent as an additional insured party thereunder and (c) in the case of each casualty   insurance policy, name the Administrative Agent as lender’s loss payee or mortgagee, as applicable.  On   the Closing Date and from time to time thereafter deliver to the Administrative Agent upon its request   information in reasonable detail as to the insurance then in effect, stating the names of the insurance   companies, the amounts and rates of the insurance, the dates of the expiration thereof and the properties   and risks covered thereby.  Without limiting the foregoing, the US Borrower shall and shall cause each   appropriate Credit Party to (i) maintain, if available, fully paid flood hazard insurance on all real property   that is located in a special flood hazard area and that is subject to a Mortgage, on such terms and in such   amounts as required by The National Flood Insurance Reform Act of 1994 or as otherwise required by the   Administrative Agent, (ii) furnish to the Administrative Agent evidence of renewal (and payment of   renewal premiums therefor) of all such policies prior to the expiration or lapse thereof, and (iii) furnish to   the Administrative Agent prompt written notice of any redesignation of any such improved real property   into or out of a special flood hazard area.   Section 8.7 Accounting Methods and Financial Records.  Maintain a system of accounting,   and keep proper books, records and accounts (which shall be true and complete in all material respects) as   may be required or as may be necessary to permit the preparation of financial statements in accordance   with GAAP and in compliance with the regulations of the SEC.   Section 8.8 Payment of Taxes and Other Obligations.  Pay and perform and cause, each   Credit Party and Material Foreign Subsidiary to pay and perform (a) all taxes, assessments and other   governmental charges that may be levied or assessed upon it or any of its Property and (b) all other   indebtedness, obligations and liabilities in accordance with customary trade practices; provided, that the   US Borrower or such Subsidiary may contest any item described in clause (a) of this Section in good faith   so long as adequate reserves are maintained with respect thereto in accordance with GAAP.   Section 8.9 Compliance with Laws and Approvals.  Observe and remain in compliance with   all Applicable Laws and maintain in full force and effect all Governmental Approvals, in each case   applicable to the conduct of each  Credit Party’s and each Material Foreign Subsidiary’s business and   which if not complied with or not maintained could reasonably be expected to have a Material Adverse   Effect.   Section 8.10 Environmental Laws.  In addition to and without limiting the generality of   Section 8.9, (a) comply in all material respects with, and ensure such compliance by all, Credit Parties   and Material Foreign Subsidiaries, tenants and subtenants with all applicable Environmental Laws and   obtain and comply with and maintain, and ensure that all tenants and subtenants, if any, obtain and   comply with and maintain, any and all licenses, approvals, notifications, registrations or permits required   by applicable Environmental Laws and (b) conduct and complete all investigations, studies, sampling and   testing, and all remedial, removal and other actions required under Environmental Laws, and promptly   comply with all lawful orders and directives of any Governmental Authority regarding Environmental   Laws.   Section 8.11 Compliance with ERISA.  In addition to and without limiting the generality of   Section 8.9, (a) except where the failure to so comply could not, individually or in the aggregate,   reasonably be expected to have a Material Adverse Effect, (i) comply with applicable provisions of   ERISA, the Code and the regulations and published interpretations thereunder with respect to all   Employee Benefit Plans, (ii) not take any action or fail to take action the result of which could reasonably   be expected to result in a liability to the PBGC or to a Multiemployer Plan, (iii) not participate in any   prohibited transaction that could result in any civil penalty under ERISA or tax under the Code and (iv)   operate each Employee Benefit Plan in such a manner that will not incur any tax liability under     

 

      - 78 -   Section 4980B of the Code or any liability to any qualified beneficiary as defined in Section 4980B of the   Code and (b) furnish to the Administrative Agent upon the Administrative Agent’s request such   additional information about any Employee Benefit Plan as may be reasonably requested by the   Administrative Agent.   Section 8.12 Compliance with Agreements.  Comply in all respects with each term, condition   and provision of all leases, agreements and other instruments entered into in the conduct of its business,   except as could not reasonably be expected to have a Material Adverse Effect.   Section 8.13 Visits and Inspections.  Permit representatives of the Administrative Agent or   any Lender, from time to time upon prior reasonable notice and at such times during normal business   hours, all at the expense of the US Borrower, to visit and inspect its properties; inspect, audit and make   extracts from its books, records and files, including, but not limited to, management letters prepared by   independent accountants; and discuss with its principal officers, and its independent accountants, its   business, assets, liabilities, financial condition, results of operations and business prospects; provided that   excluding any such visits and inspections during the continuation of an Event of Default, the   Administrative Agent shall not exercise such rights more often than two (2) times during any calendar   year at the US Borrower’s expense; provided further that upon the occurrence and during the continuance   of an Event of Default, the Administrative Agent or any Lender may do any of the foregoing at the   expense of the Borrowers at any time without advance notice.  Upon the request of the Administrative   Agent or the Required Lenders, participate in a meeting of the Administrative Agent and Lenders once   during each Fiscal Year, which meeting will be held at the US Borrower’s corporate offices (or such other   location as may be agreed to by the US Borrower and the Administrative Agent) at such time as may be   agreed by the US Borrower and the Administrative Agent.   Section 8.14 Additional Subsidiaries.   (a) Additional Domestic Subsidiaries.  Promptly after the creation or acquisition of   any Domestic Subsidiary (excluding any Non-Guarantor Subsidiary), and in any event (x) in the case of   any such Domestic Subsidiary created or acquired in connection with a Permitted Acquisition, within   sixty (60) days after the closing date of such Permitted Acquisition and (y) in all other cases any such   Domestic Subsidiary, within sixty (60) days after creation, cause such Person to (i) become a Subsidiary   Guarantor by delivering to the Administrative Agent a duly executed supplement to the Subsidiary   Guaranty Agreement or such other document as the Administrative Agent shall deem appropriate for such   purpose, (ii) grant a security interest in all Collateral (subject to the exceptions specified in the Security   Agreement) owned by such Subsidiary by delivering to the Administrative Agent a duly executed   supplement to each applicable Security Document or such other document as the Administrative Agent   shall deem appropriate for such purpose and comply with the terms of each applicable Security   Document, (iii) deliver to the Administrative Agent such opinions, documents and certificates referred to   in Section 6.1 as may be reasonably requested by the Administrative Agent, (iv) deliver to the   Administrative Agent such original Capital Stock or other certificates and stock or other transfer powers   evidencing the Capital Stock of such Person, (v) deliver to the Administrative Agent such updated   Schedules to the Loan Documents as requested by the Administrative Agent with respect to such Person,   and (vi) deliver to the Administrative Agent such other documents as may be reasonably requested by the   Administrative Agent, all in form, content and scope reasonably satisfactory to the Administrative Agent.   (b) Additional Foreign Subsidiaries.  Notify the Administrative Agent promptly after   any Person becomes a First Tier Foreign Subsidiary, and at the request of the Administrative Agent,   promptly thereafter (and, in any event, within forty five (45) days after such notification, as such time   period may be extended by the Administrative Agent in its sole discretion), cause (i) the applicable Credit   Party to deliver to the Administrative Agent Security Documents pledging sixty-five percent (65%) of the     

 

      - 79 -   total outstanding voting Capital Stock (and one hundred percent (100%) of the non-voting Capital Stock)   of any such new First Tier Foreign Subsidiary and a consent thereto executed by such new First Tier   Foreign Subsidiary (including, without limitation, if applicable, original certificated Capital Stock (or the   equivalent thereof pursuant to the Applicable Laws and practices of any relevant foreign jurisdiction)   evidencing the Capital Stock of such new First Tier Foreign Subsidiary, together with an appropriate   undated stock or other transfer power for each certificate duly executed in blank by the registered owner   thereof), (ii) such Person to deliver to the Administrative Agent such opinions, documents and certificates   referred to in Section 6.1 as may be reasonably requested by the Administrative Agent, (iii) such Person   to deliver to the Administrative Agent such updated Schedules to the Loan Documents as requested by the   Administrative Agent and (iv) such Person to deliver to the Administrative Agent such other documents   as may be reasonably requested by the Administrative Agent, all in form, content and scope reasonably   satisfactory to the Administrative Agent and not more burdensome than the original closing documents   required with regard to such Person.   (c) Merger Subsidiaries.  Notwithstanding the foregoing, to the extent any new   Subsidiary is created solely for the purpose of consummating a merger transaction pursuant to a Permitted   Acquisition, and such new Subsidiary at no time holds any assets or liabilities other than any merger   consideration contributed to it contemporaneously with the closing of such merger transaction, such new   Subsidiary shall not be required to take the actions set forth in Section 8.14(a) or (b), as applicable, until   the consummation of such Permitted Acquisition (at which time, the surviving entity of the respective   merger transaction shall be required to so comply with Section 8.14(a) or (b), as applicable, within ten   (10) Business Days of the consummation of such Permitted Acquisition.   (d) Exclusions.  The provisions of this Section 8.14 shall not apply to assets as to   which the Administrative Agent and the US Borrower shall reasonably determine that the costs and   burdens of obtaining a security interest therein or perfection thereof outweigh the value of the security   afforded thereby.   Section 8.15 Reserved.     Section 8.16 Use of Proceeds.  The Borrowers shall use the proceeds of the Revolving Credit   Loans (a) to refinance Indebtedness under the Existing Credit Facilities, (b) to pay certain fees and   expenses incurred in connection with the Transactions and this Agreement and (c) for working capital and   general corporate purposes of the US Borrower and its Subsidiaries.  The US Borrower shall use the   proceeds of any Incremental Term Loan and any Incremental Revolving Credit Increase as permitted   pursuant to Section 5.13, as applicable.  The Borrower will not, directly or, to its Knowledge, indirectly,   use the proceeds of the Loans, or lend, contribute or otherwise make available such proceeds to any   Subsidiary, joint venture partner or other Person, (i) to fund any activities or business of or with any   Person, or in any  country or territory, that, at the time of such funding, is, or whose government is, the   subject of Sanctions, or (ii) in any other manner that would result in a violation of Sanctions by any   Person (including any Person participating in the Loans, whether as an underwriter, advisor, investor or   otherwise).   Section 8.17 Reserved.   Section 8.18 Compliance with Anti-Corruption Laws and Sanctions.  Each Borrower will   maintain in effect and enforce policies and procedures designed to promote and achieve compliance by   such Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-   Corruption Laws and applicable Sanctions.  No borrowing or Letter of Credit, use of proceeds or other   transaction contemplated by this Agreement or the other Loan Documents will violate Anti-Corruption   Laws or applicable Sanctions.     

 

      - 80 -   Section 8.19 Corporate Governance.  (a) Maintain entity records and books of account   separate from those of any other entity which is an Affiliate of such entity, (b) not commingle its funds or   assets with those of any other entity which is an Affiliate of such entity (except pursuant to cash   management systems reasonably acceptable to the Administrative Agent) and (c) provide that its board of   directors (or equivalent governing body) will hold all appropriate meetings to authorize and approve such   entity’s actions, which meetings will be separate from those of any other entity which is an Affiliate of   such entity.  For the purposes of this Section 8.19, “Affiliate” shall not include any Borrower or any   Subsidiary thereof.   Section 8.20 Further Assurances.  Execute any and all further documents, financing   statements, agreements and instruments, and take all such further actions (including the filing and   recording of financing statements and other documents), which may be required under any Applicable   Law, or which the Administrative Agent or the Required Lenders (through the Administrative Agent)   may reasonably request, to effectuate the transactions contemplated by the Loan Documents or to grant,   preserve, protect or perfect the Liens created or intended to be created by the Security Documents or the   validity or priority of any such Lien, all at the expense of the Credit Parties.  Each Borrower also agrees to   provide to the Administrative Agent, from time to time upon the reasonable request by the Administrative   Agent, evidence reasonably satisfactory to the Administrative Agent as to the perfection and priority of   the Liens created or intended to be created by the Security Documents.   Section 8.21 Post-Closing Matters.  Execute and deliver the documents and complete the tasks   set forth on Schedule 8.21, in each case within the time limits specified on such schedule.   ARTICLE IX     NEGATIVE COVENANTS   Until all of the Obligations (other than contingent, indemnification obligations not then due) have   been paid and satisfied in full in cash, all Letters of Credit have been terminated or expired (or been Cash   Collateralized) and the Commitments terminated, each Borrower will not, and will not permit any Credit   Party, any Material Foreign Subsidiary and to the extent specifically provided below, any other   Subsidiary to:   Section 9.1 Indebtedness.  Create, incur, assume or suffer to exist any Indebtedness except:   (a) the Obligations;   (b) Indebtedness owing under Hedge Agreements entered into in order to manage   existing or anticipated interest rate, exchange rate or commodity price risks and not for speculative   purposes;   (c) Indebtedness existing on the Closing Date and listed on Schedule 9.1, and the   renewal, refinancing, extension and replacement (but not the increase in the aggregate principal amount)   thereof;   (d) Indebtedness incurred in connection with Capital Lease Obligations and purchase   money Indebtedness in an aggregate amount not to exceed $20,000,000 at any time outstanding   (excluding Indebtedness incurred in connection with Capital Lease Obligations and purchase money   Indebtedness otherwise permitted in Section 9.1(e));   (e) Indebtedness of a Person existing at the time such Person became a Subsidiary or   assets were acquired from such Person in connection with an Investment permitted pursuant to     

 

      - 81 -   Section 9.3, to the extent that (i) such Indebtedness was not incurred in connection with, or in   contemplation of, such Person becoming a Subsidiary or the acquisition of such assets, (ii) neither any   Borrower nor any Subsidiary thereof (other than such Person or any other Person that such Person merges   with or that acquires the assets of such Person) shall have any liability or other obligation with respect to   such Indebtedness, (iii) any Indebtedness (other than Indebtedness described in clause (iv) below) was   incurred in connection with Capital Lease Obligations or purchase money Indebtedness and (iv) any other   Indebtedness is pari passu with or subordinate to the Obligations and does not exceed $10,000,000 at any   time outstanding; provided, however, that the dollar limitation in this clause (iv) shall apply only to   Indebtedness of a U.S. Person;   (f) Guaranty Obligations with respect to Indebtedness permitted pursuant to   subsections (a) through (e) of this Section and Guaranty Obligations with respect to contract performance;   (g) unsecured intercompany Indebtedness:   (i)  owed by any Credit Party to another Credit Party;   (ii)  owed by any Credit Party to any Non-Guarantor Subsidiary (provided   that such Indebtedness shall be subordinated to the Obligations in a manner reasonably   satisfactory to the Administrative Agent);    (iii) owed by any Non-Guarantor Subsidiary to any other Non-Guarantor   Subsidiary; and   (iv)  owed by any Non-Guarantor Subsidiary to any Credit Party not to exceed   $20,000,000 at any time outstanding;   (h) Indebtedness arising from the honoring by a bank or other financial institution of   a check, draft or other similar instrument drawn against insufficient funds in the ordinary course of   business; and Indebtedness incurred in respect of credit cards, credit card processing service, debit cards,   stored value cards, purchase cards (including “procurement cards” or “P-cards”) or cash management   services, in each case, incurred in the ordinary course of business;   (i) unsecured Indebtedness of the US Borrower and the Subsidiary Guarantors;   provided, that the Consolidated Total Leverage Ratio calculated before and after giving effect to the   incurrence of such Indebtedness shall be at least 0.25 below the then applicable Consolidated Total   Leverage Ratio;   (j) Indebtedness under performance bonds, surety bonds, release, appeal and similar   bonds, statutory obligations or with respect to workers’ compensation claims, in each case incurred in the   ordinary course of business, and reimbursement obligations in respect of any of the foregoing;   (k) Indebtedness of Foreign Subsidiaries in an aggregate principal amount not to   exceed $20,000,000 at any time outstanding (excluding the Obligations of Non-US Borrowers pursuant to   this Agreement);   (l) Indebtedness consisting of promissory notes issued to current or former officers,   directors and employees (or their respective family members, estates or trusts or other entities for the   benefit of any of the foregoing) of the US Borrower or its Subsidiaries to purchase or redeem Capital   Stock or options of the US Borrower permitted pursuant to Section 9.6(d)(iv); provided that the aggregate   principal amount of all such Indebtedness shall not exceed $2,000,000 at any time outstanding;      

 

      - 82 -   (m) Indebtedness of any Credit Party or any Subsidiary thereof not otherwise   permitted pursuant to this Section in an aggregate principal amount not to exceed $10,000,000 at any time   outstanding;    (n) Indebtedness incurred in connection with floor plan financing in an aggregate   amount not to exceed $70,000,000 at any time outstanding; and    (o) other unsecured Indebtedness not otherwise permitted pursuant to this Section   not to exceed $20,000,000 at any time outstanding.   Section 9.2 Liens.  Create, incur, assume or suffer to exist, any Lien on or with respect to any   of its Property, whether now owned or hereafter acquired, except:   (a) Liens created pursuant to the Loan Documents (including, without limitation,   Liens in favor of the Swingline Lender and/or the Issuing Lenders, as applicable, on Cash Collateral   granted pursuant to the Loan Documents);   (b) Liens in existence on the Closing Date and described on Schedule 9.2, and the   replacement, renewal or extension thereof (including Liens incurred, assumed or suffered to exist in   connection with any refinancing, refunding, renewal or extension of Indebtedness pursuant to   Section 9.1(c) (solely to the extent that such Liens were in existence on the Closing Date and described on   Schedule 9.2)); provided that the scope of any such Lien shall not be increased, or otherwise expanded, to   cover any additional property or type of asset, as applicable, beyond that in existence on the Closing Date,   except for products and proceeds of the foregoing;   (c) Liens for taxes, assessments and other governmental charges or levies (excluding   any Lien imposed pursuant to any of the provisions of ERISA or Environmental Laws) (i) not yet due or   as to which the period of grace (not to exceed thirty (30) days), if any, related thereto has not expired or   (ii) which are being contested in good faith and by appropriate proceedings if adequate reserves are   maintained to the extent required by GAAP;   (d) the claims of materialmen, mechanics, carriers, warehousemen, processors or   landlords for labor, materials, supplies or rentals incurred in the ordinary course of business, which (i) are   not overdue for a period of more than thirty (30) days, or if more than thirty (30) days overdue, no action   has been taken to enforce such Liens and such Liens are being contested in good faith and by appropriate   proceedings if adequate reserves are maintained to the extent required by GAAP and (ii) do not,   individually or in the aggregate, materially impair the use thereof in the operation of the business of the   US Borrower or any of its Subsidiaries;   (e) deposits or pledges made in the ordinary course of business in connection with,   or to secure payment of, obligations under workers’ compensation, unemployment insurance and other   types of social security or similar legislation, or to secure the performance of bids, trade contracts and   leases (other than Indebtedness), statutory obligations, surety bonds (other than bonds related to   judgments or litigation), performance bonds and other obligations of a like nature incurred in the ordinary   course of business, in each case, so long as no foreclosure sale or similar proceeding has been   commenced with respect to any portion of the Collateral on account thereof;   (f) encumbrances in the nature of zoning restrictions, easements and rights or   restrictions of record on the use of real property, which in the aggregate are not substantial in amount and   which do not, in any case, detract from the value of such property or impair the use thereof in the ordinary   conduct of business;     

 

      - 83 -   (g) Liens arising from the filing of precautionary UCC financing statements relating   solely to personal property leased pursuant to operating leases entered into in the ordinary course of   business of the US Borrower and its Subsidiaries;   (h) Liens securing Indebtedness permitted under Sections 9.1(d), 9.1(m), 9.1(n) and   Capital Lease Obligations and purchase money Indebtedness permitted under 9.1(e); provided that   (i) such Liens shall be created substantially simultaneously with the acquisition, repair, improvement or   lease, as applicable, of the related Property, (ii) such Liens do not at any time encumber any property   other than the Property financed by such Indebtedness, (iii) the amount of Indebtedness secured thereby is   not increased and (iv) the principal amount of Indebtedness secured by any such Lien shall at no time   exceed one hundred percent (100%) of the original price for the purchase, repair improvement or lease   amount (as applicable) of such Property at the time of purchase, repair, improvement or lease (as   applicable);   (i) Liens securing judgments for the payment of money not constituting an Event of   Default under Section 10.1(m) or securing appeal or other surety bonds relating to such judgments;   (j) (i) Liens on Property (i) of any Subsidiary which are in existence at the time that   such Subsidiary is acquired pursuant to a Permitted Acquisition and (ii) of the US Borrower or any of its   Subsidiaries existing at the time such tangible property or tangible assets are purchased or otherwise   acquired by the US Borrower or such Subsidiary thereof pursuant to a transaction permitted pursuant to   this Agreement; provided that, with respect to each of the foregoing clauses (i) and (ii), (A) such Liens are   not incurred in connection with, or in anticipation of, such Permitted Acquisition, purchase or other   acquisition, (B) such Liens are applicable only to specific Property, (C) such Liens are not “blanket” or all   asset Liens, (D) such Liens do not attach to any other Property of the US Borrower or any of its   Subsidiaries and (E) the Indebtedness secured by such Liens is permitted under Section 9.1(e) of this   Agreement);   (k) Liens on assets of Foreign Subsidiaries; provided that (i) such Liens do not   extend to, or encumber, assets that constitute Collateral or the Capital Stock of the US Borrower or any of   the Subsidiaries, and (ii) such Liens extending to the assets of any Foreign Subsidiary secure only   Indebtedness incurred by such Foreign Subsidiary pursuant to Section 9.1(a), (c), (e), (k) or (m);   (l) (i) Liens of a collecting bank arising in the ordinary course of business under   Section 4-210 of the Uniform Commercial Code in effect in the relevant jurisdiction and (ii) Liens of any   depositary bank in connection with statutory, common law and contractual rights of set-off and   recoupment with respect to any deposit account of the US Borrower or any Subsidiary thereof;   (m) (i) contractual or statutory Liens of landlords to the extent relating to the property   and assets relating to any lease agreements with such landlord, and (ii) contractual Liens of suppliers   (including sellers of goods) or customers granted in the ordinary course of business to the extent limited   to the property or assets relating to such contract;   (n) any interest or title of a licensor, sublicensor, lessor or sublessor with respect to   any assets under any license or lease agreement entered into in the ordinary course of business which do   not (i) interfere in any material respect with the business of the US Borrower or its Subsidiaries or   materially detract from the value of the relevant assets of the US Borrower or its Subsidiaries or   (ii) secure any Indebtedness; and   (o) Liens arising from permitted sale-leaseback transactions as permitted under   Section 9.13;     

 

      - 84 -   (p) Liens not otherwise permitted hereunder on assets other than the Collateral   securing Indebtedness or other obligations in the aggregate principal amount not to exceed $30,000,000 at   any time outstanding.   Section 9.3 Investments.  Purchase, own, invest in or otherwise acquire (in one transaction or   a series of transactions), directly or indirectly, any Capital Stock, interests in any partnership or joint   venture (including, without limitation, the creation or capitalization of any Subsidiary), evidence of   Indebtedness or other obligation or security, substantially all or a portion of the business or assets of any   other Person or any other investment or interest whatsoever in any other Person, or make or permit to   exist, directly or indirectly, any loans, advances or extensions of credit to, or any investment in cash or by   delivery of Property in, any Person (all the foregoing, “Investments”) except:   (a) (i)  Investments existing on the Closing Date in Subsidiaries existing on the   Closing Date;   (ii)  Investments existing on the Closing Date (other than Investments in   Subsidiaries existing on the Closing Date) and described on Schedule 9.3;   (iii)  Investments made after the Closing Date by any Credit Party in any other   Credit Party (other than the US Borrower);   (iv) Investments made after the Closing Date by any Non-Guarantor   Subsidiary in any other Non-Guarantor Subsidiary;    (v) Investments made after the Closing Date by any Non-Guarantor   Subsidiary in any Credit Party; and   (vi) Investments made after the Closing Date by the U.S. Borrower in any   Non-Guarantor Subsidiary in order for such Subsidiary to effect a Permitted Acquisition   in accordance with the provisions of Section 9.3(g).   (b) Investments in cash and Cash Equivalents;   (c) Investments by the US Borrower or any of its Subsidiaries consisting of Capital   Expenditures;   (d) deposits made in the ordinary course of business to secure the performance of   leases or other obligations as permitted by Section 9.2;   (e) Hedge Agreements permitted pursuant to Section 9.1;   (f) purchases of assets in the ordinary course of business;   (g) Investments by the US Borrower or any Subsidiary thereof in the form of a   Permitted Acquisition; provided that (a) the Permitted Acquisition Consideration is less than $30,000,000   or (b) the Person or business to be acquired shall be in a similar, related or ancillary line of business   permitted pursuant to Section 9.11 and, in the case of a Permitted Acquisition in either (a) or (b) above,   the Consolidated Total Leverage Ratio calculated on a Pro Forma Basis (as of the proposed closing date   of the Acquisition and after giving effect thereto and any Indebtedness incurred in connection therewith)   shall be at least 0.25 below the then applicable ratio set forth in Section 9.15(a).     

 

      - 85 -   (h) Investments in the form of loans and advances to officers, directors and   employees in the ordinary course of business in an aggregate amount not to exceed at any time   outstanding $1,000,000 (determined without regard to any write-downs or write-offs of such loans or   advances);   (i) Investments in the form of Restricted Payments permitted pursuant to   Section 9.6;   (j) Guarantees permitted pursuant to Section 9.1;   (k) Investments in joint ventures; provided, that the aggregate amount of all such   Investments shall not at any time outstanding exceed $30,000,000 as such amount may be increased with   the consent of the Required Lenders; and   (l) Investments in the form of intercompany Indebtedness permitted pursuant to   Section 9.1(g);   (m) Investments in the form of Indebtedness in direct customers and distributors in an   aggregate principal amount not to exceed $10,000,000 at any time outstanding;   (n) Investments not otherwise permitted pursuant to this Section in an aggregate   amount not to exceed $30,000,000 at any time outstanding; provided that, immediately before and   immediately after giving pro forma effect to any such Investments and any Indebtedness incurred in   connection therewith, no Default or Event of Default shall have occurred and be continuing.   For purposes of determining the amount of any Investment outstanding for purposes of this Section 9.3,   such amount shall be deemed to be the amount of such Investment when made, purchased or acquired   (without adjustment for subsequent increases or decreases in the value of such Investment) less any   amount realized in respect of such Investment upon the sale, collection or return of capital (not to exceed   the original amount invested).   Section 9.4 Fundamental Changes.  Merge, consolidate or enter into any similar combination   with, or enter into any Asset Disposition of all or substantially all of its assets (whether in a single   transaction or a series of transactions) with, any other Person or liquidate, wind-up or dissolve itself (or   suffer any liquidation or dissolution) except:   (a) (i) any Wholly-Owned Subsidiary of a Borrower may be merged, amalgamated   or consolidated with or into such Borrower (provided that the Borrower shall be the continuing or   surviving entity) or (ii) any Wholly-Owned Subsidiary of a Borrower may be merged, amalgamated or   consolidated with or into any Subsidiary Guarantor (provided that the Subsidiary Guarantor shall be the   continuing or surviving entity or simultaneously with such transaction, the continuing or surviving entity   shall become a Subsidiary Guarantor and such Borrower shall comply with Section 8.14 in connection   therewith);   (b) (i) any Non-Guarantor Subsidiary that is a Foreign Subsidiary may be merged,   amalgamated or consolidated with or into, or be liquidated into, any other Non-Guarantor Subsidiary and   (ii) any Non-Guarantor Subsidiary that is a Domestic Subsidiary may be merged, amalgamated or   consolidated with or into, or be liquidated into, any other Non-Guarantor Subsidiary that is a Domestic   Subsidiary;     

 

      - 86 -   (c) any Subsidiary may dispose of all or substantially all of its assets (upon voluntary   liquidation, dissolution, winding up or otherwise) to the US Borrower or any Subsidiary Guarantor;   provided that, with respect to any such disposition by any Non-Guarantor Subsidiary, the consideration   for such disposition shall not exceed the fair value of such assets;   (d) (i) any Non-Guarantor Subsidiary that is a Foreign Subsidiary may dispose of all   or substantially all of its assets (upon voluntary liquidation, dissolution, winding up or otherwise) to any   other Non-Guarantor Subsidiary and (ii) any Non-Guarantor Subsidiary that is a Domestic Subsidiary   may dispose of all or substantially all of its assets (upon voluntary liquidation, dissolution, winding up or   otherwise) to any other Non-Guarantor Subsidiary that is a Domestic Subsidiary;   (e) any Wholly-Owned Subsidiary of the US Borrower may merge with or into the   Person such Wholly-Owned Subsidiary was formed to acquire in connection with any acquisition   permitted hereunder (including, without limitation, any Permitted Acquisition permitted pursuant to   Section 9.3(g)); provided that in the case of any merger involving a Wholly-Owned Subsidiary that is a   Domestic Subsidiary, (i) a Subsidiary Guarantor shall be the continuing or surviving entity or (ii)   simultaneously with such transaction, the continuing or surviving entity shall become a Subsidiary   Guarantor and the US Borrower shall comply with Section 8.14 in connection therewith; and   (f) any Person may merge into the US Borrower or any of its Wholly-Owned   Subsidiaries in connection with a Permitted Acquisition permitted pursuant to Section 9.3(g); provided   that (i) in the case of a merger involving the US Borrower or a Subsidiary Guarantor, the continuing or   surviving Person shall be the US Borrower or such Subsidiary Guarantor and (ii) the continuing or   surviving Person shall be the US Borrower or a Wholly-Owned Subsidiary of the US Borrower.   Section 9.5 Asset Dispositions.  Make any Asset Disposition except:   (a) the sale of obsolete, worn-out or surplus assets no longer used or usable in the   business of the US Borrower or any of its Subsidiaries;   (b) non-exclusive licenses and sublicenses of intellectual property rights in the   ordinary course of business not interfering, individually or in the aggregate, in any material respect with   the conduct of the business of the Borrower and its Subsidiaries;   (c) leases, subleases, licenses or sublicenses of real or personal property granted by   any Borrower or any of its Subsidiaries to others in the ordinary course of business not detracting from   the value of such real or personal property or interfering in any material respect with the business of such   Borrower or any of its Subsidiaries;   (d) Asset Disposition of the assets owned by Bronto Skylift Oy, Bronto Skylift   Deutschland GmbH, Bronto Skylift Aktiebolag, Bronto Skylift AG, Bronto Kiinteistöt Ky and Bronto   Skylift, Inc;   (e) Asset Dispositions in connection with Insurance and Condemnation Events;   provided that the requirements of Section 4.4(b) are complied with in connection therewith;   (f) Assets Dispositions in connection with transactions permitted by Section 9.4; and   (g) Asset Dispositions not otherwise permitted pursuant to this Section so long as the   Credit Parties reinvest all or any portion of such proceeds in assets used or useful for the business of the   Credit Parties and their Subsidiaries within twelve (12) months following receipt of such proceeds.     

 

      - 87 -   Section 9.6 Restricted Payments.  Declare or pay any dividend on, or make any payment or   other distribution on account of, or purchase, redeem, retire or otherwise acquire (directly or indirectly),   or set apart assets for a sinking or other analogous fund for the purchase, redemption, retirement or other   acquisition of, any class of Capital Stock of any Credit Party or any Subsidiary thereof, or make any   distribution of cash, property or assets to the holders of shares of any Capital Stock of any Credit Party or   any Subsidiary thereof (all of the foregoing, the “Restricted Payments”) provided that:   (a) the US Borrower or any of its Subsidiaries may pay dividends in shares of its   own Qualified Capital Stock;   (b) any Subsidiary of any Borrower may pay cash dividends to such Borrower or any   Subsidiary Guarantor;   (c) (i) any Non-Guarantor Subsidiary that is a Domestic Subsidiary may make   Restricted Payments to any other Non-Guarantor Subsidiary that is a Domestic Subsidiary (and, if   applicable, to other holders of its outstanding Capital Stock on a ratable basis) and (ii) any Non-Guarantor   Subsidiary that is a Foreign Subsidiary may make Restricted Payments to any other Non-Guarantor   Subsidiary (and, if applicable, to other holders of its outstanding Capital Stock on a ratable basis);    (d) the US Borrower may declare and make (and each Subsidiary of the US   Borrower may declare and make to enable the US Borrower to do the same) Restricted Payments to:   (i) pay any Taxes which are due and payable by the Credit Parties as part of   a consolidated group;   (ii) pay corporate operating (including, without limitation, directors fees and   expenses) and overhead expenses (including, without limitation, rent, utilities and salary)   in the ordinary course of business and fees and expenses of attorneys, accountants,   appraisers and the like;    (iii) so long as no Default or Event of Default has occurred and is continuing   or would result therefrom, redeem, retire or otherwise acquire shares of its Capital Stock   to offset dilution created by equity compensation to its officers, directors, employees and   consultants;    (iv) declare and make dividends in accordance with a dividend policy   approved by the US Borrower’s Board of Directors not to exceed $30,000,000 during any   Fiscal Year; and   (v) so long as no Default or Event of Default has occurred and is continuing   or would result therefrom, redeem, retire or otherwise acquire shares of its Capital Stock   or options or other equity or phantom equity in respect of its Capital Stock from present   or former officers, employees, directors or consultants (or their family members or trusts   or other entities for the benefit of any of the foregoing) or make severance payments to   such Persons in connection with the death, disability or termination of employment or   consultancy of any such officer, employee, director or consultant.    (e) the US Borrower may make cash distributions to the holders of the US   Borrower’s Capital Stock not otherwise permitted pursuant to this Section 9.6 so long as before and after   giving effect to such distributions:     

 

      - 88 -   (i) no Default or Event of Default has occurred and is continuing or would   result therefrom;   (ii) for the trailing twelve month period ending on the date of distribution,   the Consolidated Total Leverage Ratio shall be less than or equal to 2.50 to 1.00; and   (iii) the US Borrower is in compliance with the financial covenants set forth   in Section 9.15;   (f) the US Borrower may make cash distributions to the holders of such Borrower’s   Capital Stock not otherwise permitted pursuant to this Section 9.6 not to exceed the Available Amount as   of the date of such distributions so long as before and after giving effect to such distributions:   (i) no Default or Event of Default has occurred and is continuing or would   result therefrom; and   (ii) the US Borrower is in compliance with the financial covenants set forth   in Section 9.15.   (g) so long as no Default or Event of Default has occurred and is continuing or   would result therefrom, the US Borrower may make other Restricted Payments not otherwise permitted   pursuant to this Section 9.6 not to exceed $30,000,000.   Section 9.7 Transactions with Affiliates.  Directly or indirectly enter into any transaction,   including, without limitation, any purchase, sale, lease or exchange of Property, the rendering of any   service or the payment of any management, advisory or similar fees, with (a) any officer, director, holder   of any Capital Stock in, or other Affiliate of, the US Borrower or any of its Subsidiaries or (b) any   Affiliate of any such officer, director or holder other than:   (i) transactions permitted by Sections 9.1, 9.3, 9.4, 9.5, 9.6, 9.9 and 9.13;   (ii) transactions existing on the Closing Date and described on Schedule 9.7;   (iii) transactions among Credit Parties;   (iv) other transactions in the ordinary course of business on terms as   favorable as would be obtained by it on a comparable arm’s-length transaction with an   independent, unrelated third party as determined in good faith by the board of directors   (or equivalent governing body) of the US Borrower;   (v) employment and severance arrangements (including equity incentive   plans and employee benefit plans and arrangements) with their respective officers and   employees in the ordinary course of business; and   (vi) payment of customary fees and reasonable out of pocket costs to, and   indemnities for the benefit of, directors, officers and employees of the US Borrower and   its Subsidiaries in the ordinary course of business to the extent attributable to the   ownership or operation of the US Borrower and its Subsidiaries.   Section 9.8 Accounting Changes; Organizational Documents.     

 

      - 89 -   (a) Change its Fiscal Year end, or make (without the consent of the Administrative   Agent) any material change in its accounting treatment and reporting practices except as required by   GAAP.   (b) Amend, modify or change its articles of incorporation (or corporate charter or   other similar organizational documents) or amend, modify or change its bylaws (or other similar   documents) in any manner materially adverse to the rights or interests of the Lenders.   Section 9.9 Payments and Modifications of Subordinated Indebtedness.   (a) Amend, modify, waive or supplement (or permit the modification, amendment,   waiver or supplement of) any of the terms or provisions of any Subordinated Indebtedness in any respect   which would materially and adversely affect the rights or interests of the Administrative Agent and   Lenders hereunder.   (b) Cancel, forgive, make any payment or prepayment on, or redeem or acquire for   value (including, without limitation, (x) by way of depositing with any trustee with respect thereto money   or securities before due for the purpose of paying when due and (y) at the maturity thereof) any   Subordinated Indebtedness, except:   (i) refinancings, refundings, renewals, extensions or exchange of any   Subordinated Indebtedness permitted by Section 9.1(c), (e), (g)(ii), (i) or (m), and by any   subordination provisions applicable thereto;   (ii) payments and prepayments of any Subordinated Indebtedness made   solely with the proceeds of Qualified Capital Stock; and   (iii) the payment of interest, expenses and indemnities in respect of   Subordinated Indebtedness incurred under Section 9.1(c), (e), (g)(ii), (i) or (m) (other   than any such payments prohibited by any subordination provisions applicable thereto).   Section 9.10 No Further Negative Pledges; Restrictive Agreements.   (a) Enter into, assume or be subject to any agreement prohibiting or otherwise   restricting the creation or assumption of any Lien upon its properties or assets, whether now owned or   hereafter acquired, or requiring the grant of any security for such obligation if security is given for some   other obligation, except (i) pursuant to this Agreement and the other Loan Documents, (ii) pursuant to any   document or instrument governing Indebtedness incurred pursuant to Section 9.1(d) (provided that any   such restriction contained therein relates only to the asset or assets financed thereby), (iii) customary   restrictions contained in the organizational documents of any Credit Party as of the Closing Date and   (iv) customary restrictions in connection with any Permitted Lien or any document or instrument   governing any Permitted Lien (provided that any such restriction contained therein relates only to the   asset or assets subject to such Permitted Lien).   (b) Create or otherwise cause or suffer to exist or become effective any consensual   encumbrance or restriction on the ability of any Credit Party or any Subsidiary thereof to (i) pay   dividends or make any other distributions to any Credit Party or any Subsidiary on its Capital Stock or   with respect to any other interest or participation in, or measured by, its profits, (ii) pay any Indebtedness   or other obligation owed to any Credit Party or (iii) make loans or advances to any Credit Party, except in   each case for such encumbrances or restrictions existing under or by reason of (A) this Agreement and the   other Loan Documents and (B) Applicable Law.     

 

      - 90 -   (c) Create or otherwise cause or suffer to exist or become effective any consensual   encumbrance or restriction on the ability of any Credit Party or any Subsidiary thereof to (i) sell, lease or   transfer any of its properties or assets to any Credit Party or (ii) act as a Credit Party pursuant to the Loan   Documents or any renewals, refinancings, exchanges, refundings or extension thereof, except in each case   for such encumbrances or restrictions existing under or by reason of (A) this Agreement and the other   Loan Documents, (B) Applicable Law, (C) any document or instrument governing Indebtedness incurred   pursuant to Section 9.1(d) (provided that any such restriction contained therein relates only to the asset or   assets acquired in connection therewith), (D) any Permitted Lien or any document or instrument   governing any Permitted Lien (provided that any such restriction contained therein relates only to the   asset or assets subject to such Permitted Lien), (E) obligations that are binding on a Subsidiary at the time   such Subsidiary first becomes a Subsidiary of any Borrower, so long as such obligations are not entered   into in contemplation of such Person becoming a Subsidiary, (F) customary restrictions contained in an   agreement related to the sale of Property (to the extent such sale is permitted pursuant to Section 9.5) that   limit the transfer of such Property pending the consummation of such sale, (G) customary restrictions in   leases, subleases, licenses and sublicenses or asset sale agreements otherwise permitted by this   Agreement so long as such restrictions relate only to the assets subject thereto and (H) customary   provisions restricting assignment of any agreement entered into in the ordinary course of business.   Section 9.11 Nature of Business.  Engage in any business other than the business conducted by   the US Borrower and its Subsidiaries as of the Closing Date and business activities similar to, reasonably   related or ancillary thereto.   Section 9.12 Reserved.     Section 9.13 Sale Leasebacks.  Except for (a) that certain Lease, dated July 2, 2008 by and   between Elgin Sweeper Company and CenterPoint Properties Trust for the lease of 1300 W. Bartlett   Road, Elgin, IL and that certain Agreement of Purchase and Sale related thereto and (b) that certain   Lease, dated July 2, 2008 by and between Federal Signal Corporation and CenterPoint Properties Trust   for the lease of 2645 Federal Signal Drive, University Park, IL and that certain Agreement of Purchase   and Sale related thereto and (c) any of the following as it relates to any Property not constituting   Collateral for the Obligations, directly or indirectly become or remain liable as lessee or as guarantor or   other surety with respect to any lease, whether an operating lease or a Capital Lease, of any Property   (whether real, personal or mixed), whether now owned or hereafter acquired, (a) which any Credit Party   or any Subsidiary thereof has sold or transferred or is to sell or transfer to a Person which is not another   Credit Party or Subsidiary of a Credit Party or (b) which any Credit Party or any Subsidiary of a Credit   Party intends to use for substantially the same purpose as any other Property that has been sold or is to be   sold or transferred by such Credit Party or such Subsidiary to another Person which is not another Credit   Party or Subsidiary of a Credit Party in connection with such lease.   Section 9.14 Reserved.     Section 9.15 Financial Covenants.   (a) Consolidated Total Leverage Ratio.   (i) As of the last day of any fiscal quarter commencing with the period   ending March 31, 2016, permit the Consolidated Total Leverage Ratio to be greater than   the 3.25 to 1.00.   (ii) Notwithstanding the covenant level set forth in clause (i) above, the   Consolidated Total Leverage Ratio shall be subject to a covenant adjustment (“Covenant     

 

      - 91 -   Holiday”) at the election of the US Borrower given in writing to the Administrative   Agent, if the Permitted Acquisition Consideration of a Permitted Acquisition or a series   of Permitted Acquisitions over a period of twelve (12) months is at least $10,000,000.  If   so elected, (1) the maximum Consolidated Total Leverage Ratio during the Covenant   Holiday shall be 3.75 to 1.00, (2) the period of each Covenant Holiday shall last no   longer than four fiscal quarters, (3) there shall be no less than two fiscal quarters between   Covenant Holidays and (4) there shall be no more than two Covenant Holidays during the   term of this Credit Facility.  After the period of each Covenant Holiday, the maximum   Consolidated Total Leverage Ratio shall be 3.25 to 1.00.   (b) Consolidated Interest Coverage Ratio.  As of the last day of any fiscal quarter   commencing with the period ending March 31, 2016, permit the Consolidated Interest Coverage Ratio to   be less than 3.50 to 1.00.   Section 9.16 Disposal of Subsidiary Interests.  Permit any Domestic Subsidiary to be a non-   Wholly-Owned Subsidiary except as a result of or in connection with a dissolution, merger,   amalgamation, consolidation or disposition permitted by Section 9.4 or 9.5.   ARTICLE X     DEFAULT AND REMEDIES   Section 10.1 Events of Default.  Each of the following shall constitute an Event of Default:   (a) Default in Payment of Principal of Loans and Reimbursement Obligations.  Any   Borrower shall default in any payment of principal of any Loan or Reimbursement Obligation when and   as due (whether at maturity, by reason of acceleration or otherwise).   (b) Other Payment Default.  Any Borrower shall default in the payment when and as   due (whether at maturity, by reason of acceleration or otherwise) of interest on any Loan or   Reimbursement Obligation or the payment of any other Obligation, and such default shall continue for a   period of three (3) Business Days.   (c) Misrepresentation.  Any representation, warranty, certification or statement of   fact made or deemed made by or on behalf of any Credit Party or any Material Foreign Subsidiary in this   Agreement, in any other Loan Document, or in any document delivered in connection herewith or   therewith that is subject to materiality or Material Adverse Effect qualifications, shall be incorrect or   misleading in any respect when made or deemed made or any representation, warranty, certification or   statement of fact made or deemed made by or on behalf of any Credit Party or any Subsidiary thereof in   this Agreement, any other Loan Document, or in any document delivered in connection herewith or   therewith that is not subject to materiality or Material Adverse Effect qualifications, shall be incorrect or   misleading in any material respect when made or deemed made.   (d) Default in Performance of Certain Covenants.  Any Credit Party or any   Subsidiary thereof shall default in the performance or observance of any covenant or agreement contained   in Sections 8.1, 8.2(a), 8.3(a), 8.4, 8.13, 8.14, 8.16, 8.18, 8.19 or Article IX.   (e) Default in Performance of Other Covenants and Conditions.  Any Credit Party or   any Material Foreign Subsidiary shall default in the performance or observance of any term, covenant,   condition or agreement contained in this Agreement (other than as specifically provided for in this   Section) or any other Loan Document and such default shall continue for a period of thirty (30) days after     

 

      - 92 -   the earlier of (i) the Administrative Agent’s delivery of written notice thereof to the US Borrower and   (ii) a Responsible Officer of any Credit Party having obtained Knowledge thereof.   (f) Indebtedness Cross-Default.  Any Credit Party or any Material Foreign   Subsidiary thereof shall (i) default in the payment of any Indebtedness (other than the Loans or any   Reimbursement Obligation) the aggregate outstanding amount  of which Indebtedness is in excess of the   Threshold Amount beyond the period of grace if any, provided in the instrument or agreement under   which such Indebtedness was created, or (ii) default in the observance or performance of any other   agreement or condition relating to any Indebtedness (other than the Loans or any Reimbursement   Obligation) the aggregate outstanding amount, or with respect to any Hedge Agreement, the Hedge   Termination Value, of which is in excess of the Threshold Amount or contained in any instrument or   agreement evidencing, securing or relating thereto or any other event shall occur or condition exist, the   effect of which default or other event or condition is to cause, or to permit the holder or holders of such   Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause, with the giving of notice   and/or lapse of time, if required, any such Indebtedness to become due prior to its stated maturity (any   applicable grace period having expired).   (g) Reserved.     (h) Change in Control.  Any Change in Control shall occur.   (i) Voluntary Bankruptcy Proceeding.  Any Credit Party or any Material Foreign   Subsidiary shall (i) commence a voluntary case under any Debtor Relief Laws, (ii) file a petition seeking   to take advantage of any Debtor Relief Laws, (iii) consent to or fail to contest in a timely and appropriate   manner any petition filed against it in an involuntary case under any Debtor Relief Laws, (iv) apply for or   consent to, or fail to contest in a timely and appropriate manner, the appointment of, or the taking of   possession by, a receiver, custodian, trustee, or liquidator of itself or of a substantial part of its property,   domestic or foreign, (v) admit in writing its inability to pay its debts as they become due, (vi) make a   general assignment for the benefit of creditors, or (vii) take any corporate action for the purpose of   authorizing any of the foregoing.   (j) Involuntary Bankruptcy Proceeding.  A case or other proceeding shall be   commenced against any Credit Party or any Material Foreign Subsidiary in any court of competent   jurisdiction seeking (i) relief under any Debtor Relief Laws, or (ii) the appointment of a trustee, receiver,   custodian, liquidator or the like for any Credit Party or any Material Foreign Subsidiary or for all or any   substantial part of their respective assets, domestic or foreign, and such case or proceeding shall continue   without dismissal or stay for a period of sixty (60) consecutive days, or an order granting the relief   requested in such case or proceeding (including, but not limited to, an order for relief under such federal   bankruptcy laws) shall be entered.   (k) Failure of Agreements.  Any provision of this Agreement or any provision of any   other Loan Document shall for any reason cease to be valid and binding on any Credit Party or any   Material Foreign Subsidiary party thereto or any such Person shall so state in writing, or any Loan   Document shall for any reason cease to create a valid and perfected first priority Lien (subject to   Permitted Liens) on, or security interest in, any of the Collateral purported to be covered thereby, in each   case other than in accordance with the express terms hereof or thereof.   (l) Termination Events.  A Termination Event shall have occurred that, when taken   together with all other Termination Events that have occurred, could reasonably be expected to result in a   Material Adverse Effect.     

 

      - 93 -   (m) Judgment.  A final, nonappealable judgment or order for the payment of money   which could reasonably be expected to have a Material Adverse Effect shall be entered against any Credit   Party or any Subsidiary thereof by any court and such judgment or order shall continue without having   been discharged, vacated or stayed for a period of sixty (60) consecutive days after the entry thereof.   Section 10.2 Remedies.  Upon the occurrence and during the continuance of an Event of   Default, with the consent of the Required Lenders, the Administrative Agent may, or upon the request of   the Required Lenders, the Administrative Agent shall, by notice to the US Borrower:   (a) Acceleration; Termination of Credit Facility.  Terminate the Revolving Credit   Commitment and declare the principal of and interest on the Loans and the Reimbursement Obligations at   the time outstanding, and all other amounts owed to the Lenders and to the Administrative Agent under   this Agreement or any of the other Loan Documents (including, without limitation, all L/C Obligations,   whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented or shall be   entitled to present the documents required thereunder) and all other Obligations, to be forthwith due and   payable, whereupon the same shall immediately become due and payable without presentment, demand,   protest or other notice of any kind, all of which are expressly waived by each Credit Party, anything in   this Agreement or the other Loan Documents to the contrary notwithstanding, and terminate the Credit   Facility and any right of the US Borrower to request borrowings or Letters of Credit thereunder; provided,   that upon the occurrence of an Event of Default specified in Section 10.1(i) or (j), the Credit Facility shall   be automatically terminated and all Obligations shall automatically become due and payable without   presentment, demand, protest or other notice of any kind, all of which are expressly waived by each   Credit Party, anything in this Agreement or in any other Loan Document to the contrary notwithstanding.   (b) Letters of Credit.  With respect to all Letters of Credit with respect to which   presentment for honor shall not have occurred at the time of an acceleration pursuant to the preceding   paragraph, demand that the US Borrower deposit in a Cash Collateral account opened by the   Administrative Agent an amount equal to the aggregate then undrawn and unexpired amount of such   Letters of Credit.  Amounts held in such Cash Collateral account shall be applied by the Administrative   Agent to the payment of drafts drawn under such Letters of Credit, and the unused portion thereof after all   such Letters of Credit shall have expired or been fully drawn upon, if any, shall be applied to repay the   other Secured Obligations in accordance with Section 10.3.  After all such Letters of Credit shall have   expired or been fully drawn upon, the Reimbursement Obligation shall have been satisfied and all other   Secured Obligations shall have been paid in full, the balance, if any, in such Cash Collateral account shall   be returned to the US Borrower.   (c) General Remedies.  Exercise on behalf of the Secured Parties all of its other   rights and remedies under this Agreement, the other Loan Documents and Applicable Law, in order to   satisfy all of the Secured Obligations.   Section 10.3 Rights and Remedies Cumulative; Non-Waiver; etc.   (a) The enumeration of the rights and remedies of the Administrative Agent and the   Lenders set forth in this Agreement is not intended to be exhaustive and the exercise by the   Administrative Agent and the Lenders of any right or remedy shall not preclude the exercise of any other   rights or remedies, all of which shall be cumulative, and shall be in addition to any other right or remedy   given hereunder or under the other Loan Documents or that may now or hereafter exist at law or in equity   or by suit or otherwise.  No delay or failure to take action on the part of the Administrative Agent or any   Lender in exercising any right, power or privilege shall operate as a waiver thereof, nor shall any single or   partial exercise of any such right, power or privilege preclude any other or further exercise thereof or the   exercise of any other right, power or privilege or shall be construed to be a waiver of any Event of     

 

      - 94 -   Default.  No course of dealing between any Borrower, the Administrative Agent and the Lenders or their   respective agents or employees shall be effective to change, modify or discharge any provision of this   Agreement or any of the other Loan Documents or to constitute a waiver of any Event of Default.   (b) Notwithstanding anything to the contrary contained herein or in any other Loan   Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents   against the Credit Parties or any of them shall be vested exclusively in, and all actions and proceedings at   law in connection with such enforcement shall be instituted and maintained exclusively by, the   Administrative Agent in accordance with Section 10.2 for the benefit of all the Lenders and the Issuing   Lenders; provided that the foregoing shall not prohibit (a) the Administrative Agent from exercising on its   own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent)   hereunder and under the other Loan Documents, (b) any Issuing Lender or the Swingline Lender from   exercising the rights and remedies that inure to its benefit (solely in its capacity as an Issuing Lender or   Swingline Lender, as the case may be) hereunder and under the other Loan Documents, (c) any Lender   from exercising setoff rights in accordance with Section 12.4 (subject to the terms of Section 5.6), or   (d) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the   pendency of a proceeding relative to any Credit Party under any Debtor Relief Law; and provided,   further, that if at any time there is no Person acting as Administrative Agent hereunder and under the   other Loan Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the   Administrative Agent pursuant to Section 10.2 and (ii) in addition to the matters set forth in clauses (b),   (c) and (d) of the preceding proviso and subject to Section 5.6, any Lender may, with the consent of the   Required Lenders, enforce any rights and remedies available to it and as authorized by the Required   Lenders.   Section 10.4 Crediting of Payments and Proceeds.  (a) In the event that the Obligations have   been accelerated pursuant to Section 10.2 or the Administrative Agent or any Lender has exercised any   remedy set forth in this Agreement or any other Loan Document, all payments received other than from a   Non-US Borrower on account of the Secured Obligations and all net proceeds of or constituting US   Collateral, from the enforcement of the Secured Obligations shall be applied by the Administrative Agent   as follows:   First, to payment of that portion of the Secured Obligations constituting fees, indemnities,   expenses and other amounts, including attorney fees, payable to the Administrative Agent in its capacity   as such, the Issuing Lenders in their capacity as such and the Swingline Lender in its capacity as such,   ratably among the Administrative Agent, the Issuing Lenders and Swingline Lender in proportion to the   respective amounts described in this clause First payable to them;   Second, to payment of that portion of the Secured Obligations constituting fees, indemnities and   other amounts (other than principal and interest) payable to the Lenders under the Loan Documents,   including attorney fees, ratably among the Lenders in proportion to the respective amounts described in   this clause Second payable to them;   Third, to payment of that portion of the Secured Obligations constituting accrued and unpaid   interest on the Loans and Reimbursement Obligations, ratably among the Lenders in proportion to the   respective amounts described in this clause Third payable to them;   Fourth, to payment of that portion of the Secured Obligations constituting unpaid principal of the   Loans, Reimbursement Obligations and payment obligations then owing under Secured Hedge   Agreements and Secured Cash Management Agreements, ratably among the Lenders, the Issuing   Lenders, the Hedge Banks and the Cash Management Banks in proportion to the respective amounts   described in this clause Fourth payable to them;     

 

      - 95 -   Fifth, to the Administrative Agent for the account of the Issuing Lenders, to Cash Collateralize   any L/C Obligations then outstanding; and   Last, the balance, if any, after all of the Secured Obligations have been indefeasibly paid in full,   to the US Borrower or as otherwise required by Applicable Law.   Notwithstanding the foregoing, Secured Obligations arising under Secured Cash Management   Agreements and Secured Hedge Agreements shall be excluded from the application described above if the   Administrative Agent has not received written notice thereof, together with such supporting   documentation as the Administrative Agent may request, from the applicable Cash Management Bank or   Hedge Bank, as the case may be.  Each Cash Management Bank or Hedge Bank not a party to this   Agreement that has given the notice contemplated by the preceding sentence shall, by such notice, be   deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the   terms of Article XI for itself and its Affiliates as if a “Lender” party hereto.   (b) In the event that the Obligations have been accelerated pursuant to Section 10.2   or the Administrative Agent or any Lender has exercised any remedy set forth in this Agreement or any   other Loan Document, all payments received from a Non-US Borrower and all net proceeds of or   constituting Non-US Collateral, from the enforcement of the Non-US Obligations shall be applied by the   Administrative Agent as follows:   First, to payment of that portion of the Non-US Obligations constituting fees, indemnities,   expenses and other amounts, including attorney fees, payable to the Administrative Agent in its capacity   as such;   Second, to payment of that portion of the Non-US Obligations constituting fees, indemnities and   other amounts (other than principal and interest) payable to the Lenders under the Loan Documents,   including attorney fees, ratably among the Lenders in proportion to the respective amounts described in   this clause Second payable to them;   Third, to payment of that portion of the Non-US Obligations constituting accrued and unpaid   interest on the Loans, ratably among the Lenders in proportion to the respective amounts described in this   clause Third payable to them;   Fourth, to payment of that portion of the Non-US Obligations constituting unpaid principal of the   Loans and payment obligations then owing under Secured Hedge Agreements and Secured Cash   Management Agreements, ratably among the Lenders, the Hedge Banks and the Cash Management Banks   in proportion to the respective amounts described in this clause Fourth payable to them; and   Last, the balance, if any, after all of the Non-US Obligations have been indefeasibly paid in full,   to the Non US Borrowers or as otherwise required by Applicable Law.   Notwithstanding the foregoing, Non-US Obligations arising under Secured Cash Management   Agreements and Secured Hedge Agreements shall be excluded from the application described above if the   Administrative Agent has not received written notice thereof, together with such supporting   documentation as the Administrative Agent may request, from the applicable Cash Management Bank or   Hedge Bank, as the case may be.  Each Cash Management Bank or Hedge Bank not a party to this   Agreement that has given the notice contemplated by the preceding sentence shall, by such notice, be   deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the   terms of Article XI for itself and its Affiliates as if a “Lender” party hereto.     

 

      - 96 -   (c) Notwithstanding anything to the contrary contained in this Agreement or the other Loan   Documents: (i) each Non-US Borrower shall be severally and not jointly liable, for that portion of the   Secured Obligations evidenced by any Loan or other Extension of Credit made to, or for the benefit of,   such Non-US Borrower; and (ii) the US Borrower shall be liable for all of the Secured Obligations   evidenced by any Loan or other Extension of Credit made to, or for the benefit of any Non-US Borrower,   and all such Secured Obligations shall be guaranteed by the Subsidiary Guarantors.   Section 10.5 Administrative Agent May File Proofs of Claim.  In case of the pendency of any   proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Credit Party, the   Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be   due and payable as herein expressed or by declaration or otherwise and irrespective of whether the   Administrative Agent shall have made any demand on the US Borrower) shall be entitled and empowered   (but not obligated) by intervention in such proceeding or otherwise:   (a) to file and prove a claim for the whole amount of the principal and interest owing   and unpaid in respect of the Loans, L/C Obligations and all other Secured Obligations that are owing and   unpaid and to file such other documents as may be necessary or advisable in order to have the claims of   the Lenders, the Issuing Lenders and the Administrative Agent (including any claim for the reasonable   compensation, expenses, disbursements and advances of the Lenders, the Issuing Lenders and the   Administrative Agent and their respective agents and counsel and all other amounts due the Lenders, the   Issuing Lenders and the Administrative Agent under Sections 3.3, 5.3 and 12.3) allowed in such judicial   proceeding; and   (b) to collect and receive any monies or other property payable or deliverable on any   such claims and to distribute the same;   and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such   judicial proceeding is hereby authorized by each Lender and each Issuing Lender to make such payments   to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of   such payments directly to the Lenders and the Issuing Lenders, to pay to the Administrative Agent any   amount due for the reasonable compensation, expenses, disbursements and advances of the   Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent   under Sections 3.3, 5.3 and 12.3.   Section 10.6 Credit Bidding.   (a) The Administrative Agent, on behalf of itself and the Secured Parties, shall have   the right to credit bid and purchase for the benefit of the Administrative Agent and the Secured Parties all   or any portion of Collateral at any sale thereof conducted by the Administrative Agent under the   provisions of the UCC, including pursuant to Sections 9-610 or 9-620 of the UCC, at any sale thereof   conducted under the provisions of the United States Bankruptcy Code, including Section 363 thereof, or a   sale under a plan of reorganization, or at any other sale or foreclosure conducted by the Administrative   Agent (whether by judicial action or otherwise) in accordance with Applicable Law.  Such credit bid or   purchase may be completed through one or more acquisition vehicles formed by the Administrative Agent   to make such credit bid or purchase and, in connection therewith, the Administrative Agent is authorized,   on behalf of itself and the other Secured Parties, to adopt documents providing for the governance of the   acquisition vehicle or vehicles, and assign the applicable Secured Obligations to any such acquisition   vehicle in exchange for Capital Stock and/or debt issued by the applicable acquisition vehicle (which   shall be deemed to be held for the ratable account of the applicable Secured Parties on the basis of the   Secured Obligations so assigned by each Secured Party).     

 

      - 97 -   (b) Each Lender hereby agrees, on behalf of itself and each of its Affiliates that is a   Secured Party, that, except as otherwise provided in any Loan Document or with the written consent of   the Administrative Agent and the Required Lenders, it will not take any enforcement action, accelerate   obligations under any of the Loan Documents, or exercise any right that it might otherwise have under   Applicable Law to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral.   ARTICLE XI     THE ADMINISTRATIVE AGENT   Section 11.1 Appointment and Authority.   (a) Each of the Lenders and each Issuing Lender hereby irrevocably appoints Wells   Fargo to act on its behalf as the Administrative Agent hereunder and under the other Loan Documents and   authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are   delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and   powers as are reasonably incidental thereto.  The provisions of this Article are solely for the benefit of the   Administrative Agent, the Lenders and the Issuing Lenders, and neither the US Borrower nor any   Subsidiary thereof shall have rights as a third-party beneficiary of any of such provisions.  It is understood   and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar   term) with reference to the Administrative Agent is not intended to connote any fiduciary or other implied   (or express) obligations arising under agency doctrine of any Applicable Law. Instead such term is used   as a matter of market custom, and is intended to create or reflect only an administrative relationship   between contracting parties.   (b) The Administrative Agent shall also act as the “collateral agent” under the Loan   Documents, and each of the Lenders (including in its capacity as a potential Hedge Bank or Cash   Management Bank) and the Issuing Lenders hereby irrevocably appoints and authorizes the   Administrative Agent to act as the agent of such Lender and such Issuing Lender for purposes of   acquiring, holding and enforcing any and all Liens on Collateral granted by any of the Credit Parties to   secure any of the Secured Obligations, together with such powers and discretion as are reasonably   incidental thereto (including, without limitation, to enter into additional Loan Documents or supplements   to existing Loan Documents on behalf of the Secured Parties).  In this connection, the Administrative   Agent, as “collateral agent” and any co-agents, sub-agents and attorneys-in-fact appointed by the   Administrative Agent pursuant to this Article XI for purposes of holding or enforcing any Lien on the   Collateral (or any portion thereof) granted under the Security Documents, or for exercising any rights and   remedies thereunder at the direction of the Administrative Agent), shall be entitled to the benefits of all   provisions of Articles XI and XII (including Section 12.3, as though such co-agents, sub-agents and   attorneys-in-fact were the “collateral agent” under the Loan Documents) as if set forth in full herein with   respect thereto.   Section 11.2 Rights as a Lender.  The Person serving as the Administrative Agent hereunder   shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise   the same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall, unless   otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the   Administrative Agent hereunder in its individual capacity.  Such Person and its Affiliates may accept   deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory   capacity for and generally engage in any kind of business with the US Borrower or any Subsidiary or   other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any   duty to account therefor to the Lenders.     

 

      - 98 -   Section 11.3 Exculpatory Provisions.   (a) The Administrative Agent shall not have any duties or obligations except those   expressly set forth herein and in the other Loan Documents, and its duties hereunder and thereunder shall   be administrative in nature.  Without limiting the generality of the foregoing, the Administrative Agent:   (i) 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;   (ii) 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 Administrative Agent is required to   exercise as directed in writing by the Required Lenders (or such other number or   percentage of the Lenders as shall be expressly provided for herein or in the other Loan   Documents), provided that the Administrative Agent shall not be required to take any   action that, in its opinion or the opinion of its counsel, may expose the Administrative   Agent to liability or that is contrary to any Loan Document or Applicable Law, including   for the avoidance of doubt any action that may be in violation of the automatic stay under   any Debtor Relief Law or that may effect a forfeiture, modification or termination of   property of a Defaulting Lender in violation of any Debtor Relief Law; and   (iii) 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 US Borrower or any of its Subsidiaries or Affiliates that is   communicated to or obtained by the Person serving as the Administrative Agent or any of   its Affiliates in any capacity.   (b) The Administrative Agent shall not be liable for any action taken or not taken by   it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the   Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be   necessary, under the circumstances as provided in Section 12.2 and Section 10.2) or (ii) in the absence of   its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final   nonappealable judgment.  The Administrative 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 Administrative Agent by the US Borrower, a Lender or an Issuing Lender.   (c) The Administrative Agent shall not be responsible for or have any duty to   ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this   Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document   delivered hereunder or thereunder or in connection herewith or therewith (including, without limitation,   any report provided to it by an Issuing Lender pursuant to Section 3.9), (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, (v) the satisfaction of any condition set forth in Article VI or elsewhere herein, other than to   confirm receipt of items expressly required to be delivered to the Administrative Agent or (vi) the   utilization of any Issuing Lender’s L/C Commitment (it being understood and agreed that each Issuing   Lender shall monitor compliance with its own L/C Commitment without any further action by the   Administrative Agent).     

 

      - 99 -   Section 11.4 Reliance by the Administrative Agent.  The Administrative Agent shall be   entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate,   consent, statement, instrument, document or other writing (including any electronic message, Internet or   intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or   otherwise authenticated by the proper Person.  The Administrative Agent also may rely upon any   statement made to it orally or by telephone and believed by it to have been made by the proper Person,   and shall not incur any liability for relying thereon.  In determining compliance with any condition   hereunder to the making of a Loan, or the issuance, extension, renewal or increase of a Letter of Credit,   that by its terms must be fulfilled to the satisfaction of a Lender or an Issuing Lender, the Administrative   Agent may presume that such condition is satisfactory to such Lender or such Issuing Lender unless the   Administrative Agent shall have received notice to the contrary from such Lender or such Issuing Lender   prior to the making of such Loan or the issuance of such Letter of Credit.  The Administrative Agent may   consult with legal counsel (who may be counsel for the Borrowers), 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 11.5 Delegation of Duties.  The Administrative Agent may perform any and all of its   duties and exercise its rights and powers hereunder or under any other Loan Document by or through any   one or more sub-agents appointed by the Administrative Agent.  The Administrative Agent and any such   sub-agent may perform any and all of its duties and exercise its rights and powers by or through their   respective Related Parties.  The exculpatory provisions of this Article shall apply to any such sub-agent   and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their   respective activities in connection with the syndication of the Credit Facility as well as activities as   Administrative Agent.  The Administrative Agent shall not be responsible for the negligence or   misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a   final and nonappealable judgment that the Administrative Agent acted with gross negligence or willful   misconduct in the selection of such sub-agents.   Section 11.6 Resignation of Administrative Agent.   (a) The Administrative Agent may at any time give notice of its resignation to the   Lenders, the Issuing Lenders and the US Borrower.  Upon receipt of any such notice of resignation, the   Required Lenders shall have the right, in consultation with the US Borrower and subject to the consent of   the US Borrower (provided no Event of Default has occurred and is continuing at the time of such   resignation) to appoint a successor, which shall be a bank with an office in the United States, or an   Affiliate of any such bank with an office in the United States.  If no such successor shall have been so   appointed by the Required Lenders and shall have accepted such appointment within 30 days after the   retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be agreed by the   Required Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent may (but   shall not be obligated to), on behalf of the Lenders and the Issuing Lenders, appoint a successor   Administrative Agent meeting the qualifications set forth above.  Whether or not a successor has been   appointed, such resignation shall become effective in accordance with such notice on the Resignation   Effective Date.   (b) If the Person serving as Administrative Agent is a Defaulting Lender pursuant to   clause (d) of the definition thereof, the Required Lenders may, to the extent permitted by Applicable Law,   by notice in writing to the US Borrower and such Person, remove such Person as Administrative Agent   and, in consultation with the US Borrower, appoint a successor. If no such successor shall have been so   appointed by the Required Lenders and shall have accepted such appointment within 30 days (or such   earlier day as shall be agreed by the Required Lenders) (the “Removal Effective Date”), then such     

 

      - 100 -   removal shall nonetheless become effective in accordance with such notice on the Removal Effective   Date.   (c) With effect from the Resignation Effective Date or the Removal Effective Date   (as applicable), (i) the retiring or removed Administrative Agent shall be discharged from its duties and   obligations hereunder and under the other Loan Documents (except that in the case of any collateral   security held by the Administrative Agent on behalf of the Lenders or the Issuing Lenders under any of   the Loan Documents, the retiring or removed Administrative Agent shall continue to hold such collateral   security until such time as a successor Administrative Agent is appointed) and (ii) except for any   indemnity payments owed to the retiring or removed Administrative Agent, all payments,   communications and determinations provided to be made by, to or through the Administrative Agent shall   instead be made by or to each Lender and each Issuing Lender directly, until such time, if any, as the   Required Lenders appoint a successor Administrative Agent as provided for above.  Upon the acceptance   of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and   become vested with all of the rights, powers, privileges and duties of the retiring or removed   Administrative Agent (other than any rights to indemnity payments owed to the retiring or removed   Administrative Agent), and the retiring or removed Administrative Agent shall be discharged from all of   its duties and obligations hereunder or under the other Loan Documents.  The fees payable by the   Borrowers to a successor Administrative Agent shall be the same as those payable to its predecessor   unless otherwise agreed between the Borrowers and such successor.  After the retiring or removed   Administrative Agent’s resignation or removal hereunder and under the other Loan Documents, the   provisions of this Article and Section 12.3 shall continue in effect for the benefit of such retiring or   removed Administrative Agent, its sub-agents and their respective Related Parties in respect of any   actions taken or omitted to be taken by any of them while the retiring or removed Administrative Agent   was acting as Administrative Agent.   (d) Any resignation by, or removal of, Wells Fargo as Administrative Agent   pursuant to this Section shall also constitute its resignation as an Issuing Lender and Swingline Lender.    Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, (a) such successor   shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring   Issuing Lender, if in its sole discretion it elects to, and Swingline Lender, (b) the retiring Issuing Lender   and Swingline Lender shall be discharged from all of their respective duties and obligations hereunder or   under the other Loan Documents, and (c) the successor Issuing Lender, if in its sole discretion it elects to,   shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such   succession or make other arrangement satisfactory to the retiring Issuing Lender to effectively assume the   obligations of the retiring Issuing Lender with respect to such Letters of Credit.   Section 11.7 Non-Reliance on Administrative Agent and Other Lenders.  Each Lender and   each Issuing Lender acknowledges that it has, independently and without reliance upon the   Administrative Agent or any other Lender or any of their Related Parties and based on such documents   and information as it has deemed appropriate, made its own credit analysis and decision to enter into this   Agreement.  Each Lender and each Issuing Lender also acknowledges that it will, independently and   without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and   based on such documents and information as it shall from time to time deem appropriate, continue to   make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan   Document or any related agreement or any document furnished hereunder or thereunder.   Section 11.8 No Other Duties, Etc.  Anything herein to the contrary notwithstanding, none of   the syndication agents, documentation agents, co-agents, arrangers or bookrunners listed on the cover   page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other     

 

      - 101 -   Loan Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender or an   Issuing Lender hereunder    Section 11.9 Collateral and Guaranty Matters.   (a) Each of the Lenders (including in its or any of its Affiliate’s capacities as a   potential Hedge Bank or Cash Management Bank) irrevocably authorize the Administrative Agent, at its   option and in its discretion:   (i) to release any Lien on any Collateral granted to or held by the   Administrative Agent, for the ratable benefit of the Secured Parties, under any Loan   Document (A) upon the termination of the Revolving Credit Commitment and payment   in full of all Secured Obligations (other than (1) contingent indemnification obligations   and (2) obligations and liabilities under Secured Cash Management Agreements or   Secured Hedge Agreements as to which arrangements satisfactory to the applicable Cash   Management Bank or Hedge Bank shall have been made) and the expiration or   termination of all Letters of Credit (other than Letters of Credit as to which other   arrangements satisfactory to the Administrative Agent and the applicable Issuing Lender   shall have been made), (B) that is sold or otherwise disposed of or to be sold or otherwise   disposed of as part of or in connection with any sale or other disposition permitted under   the Loan Documents, or (C) if approved, authorized or ratified in writing in accordance   with Section 12.2;   (ii) to subordinate any Lien on any Collateral granted to or held by the   Administrative Agent under any Loan Document to the holder of any Permitted Lien; and   (iii) to release any Subsidiary Guarantor from its obligations under any Loan   Documents if such Person ceases to be a Subsidiary as a result of a transaction permitted   under the Loan Documents.   Upon request by the Administrative Agent at any time, the Required Lenders will confirm in writing the   Administrative Agent’s authority to release or subordinate its interest in particular types or items of   property, or to release any Subsidiary Guarantor from its obligations under the Subsidiary Guaranty   Agreement pursuant to this Section 11.9.  In each case as specified in this Section 11.9, the   Administrative Agent will, at the US Borrower’s expense, execute and deliver to the applicable Credit   Party such documents as such Credit Party may reasonably request to evidence the release of such item of   Collateral from the assignment and security interest granted under the Security Documents or to   subordinate its interest in such item, or to release such Guarantor from its obligations under the   Subsidiary Guaranty Agreement, in each case in accordance with the terms of the Loan Documents and   this Section 11.9.  In the case of any such sale, transfer or disposal of any property constituting Collateral   in a transaction constituting an Asset Disposition permitted pursuant to Section 9.5, the Liens created by   any of the Security Documents on such property shall be automatically released without need for further   action by any person.   (b) The Administrative Agent shall not be responsible for or have a duty to ascertain   or inquire into any representation or warranty regarding the existence, value or collectability of the   Collateral, the existence, priority or perfection of the Administrative Agent’s Lien thereon, or any   certificate prepared by any Credit Party in connection therewith, nor shall the Administrative Agent be   responsible or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral.     

 

      - 102 -   Section 11.10 Secured Hedge Agreements and Secured Cash Management Agreements.  No   Cash Management Bank or Hedge Bank that obtains the benefits of Section 10.4 or any Collateral by   virtue of the provisions hereof or of any Security Document shall have any right to notice of any action or   to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in   respect of the Collateral (including the release or impairment of any Collateral) other than in its capacity   as a Lender and, in such case, only to the extent expressly provided in the Loan Documents.    Notwithstanding any other provision of this Article XI to the contrary, the Administrative Agent shall not   be required to verify the payment of, or that other satisfactory arrangements have been made with respect   to, Secured Cash Management Agreements and Secured Hedge Agreements unless the Administrative   Agent has received written notice of such Secured Cash Management Agreements and Secured Hedge   Agreements, together with such supporting documentation as the Administrative Agent may request, from   the applicable Cash Management Bank or Hedge Bank, as the case may be.   ARTICLE XII     MISCELLANEOUS   Section 12.1 Notices.   (a) Notices Generally.  Except in the case of notices and other communications   expressly permitted to be given by telephone (and except as provided in paragraph (b) below), all notices   and other communications provided for herein shall be in writing and shall be delivered by hand or   overnight courier service, mailed by certified or registered mail or sent by facsimile as follows:   If to the Borrowers (to US Borrower at):   Federal Signal Corporation   1415 West 22nd Street   Suite 1100   Oak Brook, IL 60523   Attention of:  Svetlana Vinokur   Telephone No.: (630) 954-2015   Facsimile No.: (630) 954-3961   E-mail:  svinokur@federalsignal.com   With copies to:   Attention of:  Daniel A. DuPre   Telephone No.: (630) 954-2012   Facsimile No.: (630) 954-3961   E-mail: ddupre@federalsignal.com   With copies to:   Thompson Coburn LLP   One US Bank Plaza   St. Louis, MO 63101   Attention of:  Ruthanne C. Hammett   Telephone No.: (314) 552-6155   Facsimile: No.: (314) 552-7155   E-mail:  rhammett@thompsoncoburn.com     

 

      - 103 -   If to Wells Fargo as Administrative Agent:   Wells Fargo Bank, National Association   MAC D1109-019   1525 West W.T. Harris Blvd.   Charlotte, NC  28262   Attention of:  Syndication Agency Services   Telephone No.:  (704) 590-2703   Facsimile No.:  (704) 715-0092   With copies to:   Wells Fargo Bank, National Association   10 South Wacker Drive   16th Floor   Chicago, IL 60606   Attention of: Brett Rausch   Telephone No.: (312) 630-2311   Facsimile No.: (312) 845-4222   E-mail: brett.rausch@wellsfargo.com   and    Reed Smith LLP   10 South Wacker Drive   Suite 4000   Chicago, IL 60606   Attention of:  Joel R. Schaider   Telephone No.:  (312) 207-6448   Facsimile No.:  (312) 207-6400   E-mail:  jschaider@reedsmith.com   If to any Lender:   To the address set forth on the Register   Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall be   deemed to have been given when received; notices sent by facsimile shall be deemed to have been given   when sent (except that, if not given during normal business hours for the recipient, shall be deemed to   have been given at the opening of business on the next business day for the recipient).  Notices delivered   through electronic communications to the extent provided in paragraph (b) below, shall be effective as   provided in said paragraph (b).   (b) Electronic Communications.  Notices and other communications to the Lenders   and the Issuing Lenders hereunder may be delivered or furnished by electronic communication (including   e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent,   provided that the foregoing shall not apply to notices to any Lender or any Issuing Lender pursuant to   Article II if such Lender or such Issuing Lender, as applicable, has notified the Administrative Agent that   is incapable of receiving notices under such Article by electronic communication.  The Administrative   Agent or the US Borrower may, in its discretion, agree to accept notices and other communications to it   hereunder by electronic communications pursuant to procedures approved by it, provided that approval of     

 

      - 104 -   such procedures may be limited to particular notices or communications.  Unless the Administrative   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),   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; provided that, for both clauses (i) and (ii) above, if such notice, email or other   communication is not sent during the normal business hours of the recipient, such notice, email or other   communication shall be deemed to have been sent at the opening of business on the next business day for   the recipient.   (c) Administrative Agent’s Offices.  The Administrative Agent hereby designates its   office located at the address set forth above, or any subsequent office which shall have been specified for   such purpose by written notice to the US Borrower and Lenders, as the Administrative Agent’s Office   referred to herein, to which payments due are to be made and at which Loans will be disbursed and   Letters of Credit requested.   (d) Change of Address, Etc.  Any party hereto may change its address or facsimile   number for notices and other communications hereunder by notice to the other parties hereto.   (e) Platform.   (i) Each Credit Party agrees that the Administrative Agent may, but shall   not be obligated to, make the Borrower Materials available to the Issuing Lenders and the   other Lenders by posting the Borrower Materials on the Platform.     (ii) The Platform is provided “as is” and “as available.”  The Agent Parties   (as defined below) do not warrant the accuracy or completeness of the Borrower   Materials or the adequacy of the Platform, and expressly disclaim liability for errors or   omissions in the Borrower Materials.  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 any Agent Party in connection with the Borrower   Materials or the Platform.  In no event shall the Administrative Agent or any of its   Related Parties (collectively, the “Agent Parties”) have any liability to any Credit Party,   any Lender or any other Person or entity for losses, claims, damages, liabilities or   expenses of any kind (whether in tort, contract or otherwise) arising out of any Credit   Party’s or the Administrative Agent’s transmission of communications through the   Internet (including, without limitation, the Platform), except to the extent that such losses,   claims, damages, liabilities or expenses are determined by a court of competent   jurisdiction by final and nonappealable judgment to have resulted from the gross   negligence or willful misconduct of such Agent Party; provided that in no event shall any   Agent Party have any liability to any Credit Party, any Lender, the Issuing Lender or any   other Person for indirect, special, incidental, consequential or punitive damages, losses or   expenses (as opposed to actual damages, losses or expenses).     Section 12.2 Amendments, Waivers and Consents.  Except as set forth below or as specifically   provided in any Loan Document, any term, covenant, agreement or condition of this Agreement or any of   the other Loan Documents may be amended or waived by the Lenders, and any consent given by the   Lenders, if, but only if, such amendment, waiver or consent is in writing signed by the Required Lenders     

 

      - 105 -   (or by the Administrative Agent with the consent of the Required Lenders) and delivered to the   Administrative Agent and, in the case of an amendment, signed by the Borrowers; provided, that no   amendment, waiver or consent shall:   (a) increase the Commitment of any Lender (or reinstate any Commitment   terminated pursuant to Section 10.2) or the amount of Loans of any Lender, in any case, without the   written consent of such Lender;   (b) waive, extend or postpone any date fixed by this Agreement or any other Loan   Document for any payment of principal, interest, fees or other amounts due to the Lenders (or any of   them) hereunder or under any other Loan Document without the written consent of each Lender directly   and adversely affected thereby;   (c) reduce the principal of, or the rate of interest specified herein on, any Loan or   Reimbursement Obligation, or (subject to clause (iv) of the proviso set forth in the paragraph below) any   fees or other amounts payable hereunder or under any other Loan Document without the written consent   of each Lender directly and adversely affected thereby; provided that only the consent of the Required   Lenders shall be necessary (i) to waive any obligation of the Borrowers to pay interest at the Default Rate   during the continuance of an Event of Default or (ii) to amend any financial covenant hereunder (or any   defined term used therein) even if the effect of such amendment would be to reduce the rate of interest on   any Loan or L/C Obligation or to reduce any fee payable hereunder;   (d) change Section 5.6, Section 10.4  or Section 11.9 in any manner without the   written consent of each Lender directly and adversely affected thereby;   (e) except as otherwise permitted by this Section 12.2 change any provision of this   Section or reduce the percentages specified in the definitions of “Required Lenders,” or any other   provision hereof specifying the number or percentage of Lenders required to amend, waive or otherwise   modify any rights hereunder or make any determination or grant any consent hereunder, without the   written consent of each Lender directly affected thereby;    (f) consent to the assignment or transfer by any Credit Party of such Credit Party’s   rights and obligations under any Loan Document to which it is a party (except as permitted pursuant to   Section 9.4), in each case, without the written consent of each Lender; or   (g) release (i)  all of the Subsidiary Guarantors or (ii) Subsidiary Guarantors   comprising substantially all of the credit support for the Secured Obligations, in any case, from any   Guaranty Agreement (other than as authorized in Section 11.9), without the written consent of each   Lender;    (h) release all or substantially all of the Collateral or release any Security Document   (other than as authorized in Section 11.9 or as otherwise specifically permitted or contemplated in this   Agreement or the applicable Security Document) without the written consent of each Lender;   (i) amend the definition of “Alternative Currency” without written consent of each   Lender;   provided further, that (i) no amendment, waiver or consent shall, unless in writing and signed by each   affected Issuing Lender in addition to the Lenders required above, affect the rights or duties of such   Issuing Lender under this Agreement or any Letter of Credit Application relating to any Letter of Credit   issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing and signed by     

 

      - 106 -   the Swingline Lender in addition to the Lenders required above, affect the rights or duties of the   Swingline Lender under this Agreement; (iii) no amendment, waiver or consent shall, unless in writing   and signed by the Administrative Agent in addition to the Lenders required above, affect the rights or   duties of the Administrative Agent under this Agreement or any other Loan Document; (iv) each Fee   Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by the   parties thereto, (v) each Letter of Credit Application may be amended, or rights or privileges thereunder   waived, in a writing executed only by the parties thereto; provided that a copy of such amended Letter of   Credit Application shall be promptly delivered to the Administrative Agent upon such amendment or   waiver, (vi) any waiver, amendment or modification of this Agreement that by its terms affects the rights   or duties under this Agreement of Lenders holding Loans or Commitments of a particular Class (but not   the Lenders holding Loans or Commitments of any other Class) may be effected by an agreement or   agreements in writing entered into by the Borrowers and the requisite percentage in interest of the   affected Class of Lenders that would be required to consent thereto under this Section if such Class of   Lenders were the only Class of Lenders hereunder at the time, and (vii) the Administrative Agent and the   Borrowers shall be permitted to amend any provision of the Loan Documents (and such amendment shall   become effective without any further action or consent of any other party to any Loan Document) if the   Administrative Agent and the Borrowers shall have jointly identified an obvious error or any error or   omission of a technical or immaterial nature in any such provision.  Notwithstanding anything to the   contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment,   waiver or consent hereunder, except that the Revolving Credit Commitment of such Lender may not be   increased or extended without the consent of such Lender.   Notwithstanding anything in this Agreement to the contrary, each Lender hereby irrevocably authorizes   the Administrative Agent on its behalf, and without further consent, to enter into amendments or   modifications to this Agreement (including, without limitation, amendments to this Section 12.2) or any   of the other Loan Documents or to enter into additional Loan Documents as the Administrative Agent   reasonably deems appropriate in order to effectuate the terms of Section 5.13 (including, without   limitation, as applicable, (1) to permit the Incremental Term Loans and the Incremental Revolving Credit   Increases to share ratably in the benefits of this Agreement and the other Loan Documents, (2) to include   the Incremental Term Loan Commitments and the Incremental Revolving Credit Increase, as applicable,   or outstanding Incremental Term Loans and outstanding Incremental Revolving Credit Increase, as   applicable, in any determination of (i) Required Lenders or (ii) similar required lender terms applicable   thereto); provided that no amendment or modification shall result in any increase in the amount of any   Lender’s Commitment or any increase in any Lender’s Commitment Percentage, in each case, without the   written consent of such affected Lender and (3) to enter into amendments or modifications to this   Agreement to effectuate the provisions of Sections 5.16 or 1.12 including, without limitations, any   provisions under Applicable Law or Governmental Authority relating to Loans to Non-US Borrowers in   Alternative Currencies hereunder.   Section 12.3 Expenses; Indemnity.   (a) Costs and Expenses.  The US Borrower and any other Credit Party, jointly and   severally, shall pay (i) all reasonable and documented out of pocket expenses incurred by the   Administrative Agent and its Affiliates and JPMC (including the reasonable fees, charges and   disbursements of counsel for the Administrative Agent and JPMC), in connection with the syndication of   the Credit Facility, the preparation, negotiation, execution, delivery and administration of this Agreement   and the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or   thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all   reasonable and documented out of pocket expenses incurred by any Issuing Lender in connection with the   issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder   and (iii) after a Default or Event of Default, all out of pocket expenses incurred by the Administrative     

 

      - 107 -   Agent, any Lender or any Issuing Lender (including the fees, charges and disbursements of any counsel   for the Administrative Agent, any Lender or any Issuing Lender), in connection with the enforcement or   protection of its rights (A) in connection with this Agreement and the other Loan Documents, including   its rights under this Section, or (B) in connection with the Loans made or Letters of Credit issued   hereunder, including all such out of pocket expenses incurred during any workout, restructuring or   negotiations in respect of such Loans or Letters of Credit.  The term “out of pocket expenses” shall not   include expenses, costs or fees of any attorneys, paralegals, accountants and/or consultants who are   employees of the Administrative Agent, any Lender, the Issuing Lender or any of their respective direct   or indirect parent corporations, subsidiaries or affiliates.   (b) Indemnification by the Borrowers.  Each Borrower shall indemnify the   Administrative Agent (and any sub-agent thereof), each Lender and each Issuing Lender, and each   Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against,   and hold each Indemnitee harmless from, and shall pay or reimburse any such Indemnitee for, any and all   losses, claims (including, without limitation, any Environmental Claims), penalties, damages, liabilities   and related expenses (including the reasonable and documented fees, charges and disbursements of any   counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any   Person (including such Borrower or any other Credit Party), other than such Indemnitee and its Related   Parties, arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement,   any other Loan Document or any agreement or instrument contemplated hereby or thereby, the   performance by the parties hereto of their respective obligations hereunder or thereunder or the   consummation of the transactions contemplated hereby or thereby (including, without limitation, the   Transactions), (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom   (including any refusal by any 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), (iii) any actual or alleged presence or release of Hazardous Materials on or from any   property owned or operated by any Credit Party or any Subsidiary thereof, or any Environmental Claim   related in any way to any Credit Party or any Subsidiary, (iv) any actual or prospective claim, litigation,   investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other   theory, whether brought by a third party or by any Credit Party or any Subsidiary thereof, and regardless   of whether any Indemnitee is a party thereto, or (v) any claim (including, without limitation, any   Environmental Claims), investigation, litigation or other proceeding (whether or not the Administrative   Agent or any Lender is a party thereto) and the prosecution and defense thereof, arising out of or in any   way connected with the Loans, this Agreement, any other Loan Document, or any documents   contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby,   including without limitation, reasonable attorneys and consultant’s fees, provided that such indemnity   shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or   related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable   judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or any of   its Related Parties, (y) result from a claim brought by any Credit Party or any Subsidiary thereof against   an Indemnitee or any of its Related Parties for breach in bad faith of such Indemnitee’s obligations   hereunder or under any other Loan Document, if such Credit Party or such Subsidiary has obtained a final   and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction   or (z) arise out of (i) disputes solely between or among the Lenders, (ii) disputes solely between or among   the Lenders and their respective Affiliates or Related Parties (it being understood and agreed that the   foregoing indemnification shall extend to the Administrative Agent (but not in its capacity as a Lender)   relative to disputes between or among the Administrative Agent, on the one hand, and one or more   Lenders, or one or more of their Affiliates or Related Parties, on the other hand).  This Section 12.3(b)   shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc.   arising from any non-Tax claim.     

 

      - 108 -   (c) Reimbursement by Lenders.  To the extent that any Borrower for any reason fails   to indefeasibly pay any amount required under clause (a) or (b) of this Section to be paid by it to the   Administrative Agent (or any sub-agent thereof), any Issuing Lender, the Swingline Lender or any   Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or   any such sub-agent), such Issuing Lender, the Swingline Lender or such Related Party, as the case may   be, such Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or   indemnity payment is sought based on each Lender’s share of the Total Credit Exposure at such time, or   if the Total Credit Exposure has been reduced to zero, then based on such Lender’s share of the Total   Credit Exposure immediately prior to such reduction) of such unpaid amount (including any such unpaid   amount in respect of a claim asserted by such Lender); provided that with respect to such unpaid amounts   owed to any Issuing Lender or the Swingline Lender solely in its capacity as such, only the Revolving   Credit Lenders shall be required to pay such unpaid amounts, such payment to be made severally among   them based on such Revolving Credit Lenders’ Revolving Credit Commitment Percentage (determined as   of the time that the applicable unreimbursed expense or indemnity payment is sought or, if the Revolving   Credit Commitment has been reduced to zero as of such time, determined immediately prior to such   reduction); provided, further, that the unreimbursed expense or indemnified loss, claim, damage, liability   or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or   any such sub-agent), such Issuing Lender or the Swingline Lender in its capacity as such, or against any   Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such   Issuing Lender or the Swingline Lender in connection with such capacity.  The obligations of the Lenders   under this clause (c) are subject to the provisions of Section 5.7.   (d) Waiver of Consequential Damages, Etc.  To the fullest extent permitted by   Applicable Law, each Borrower and each other Credit Party shall not assert, and hereby waives, any   claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive   damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this   Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the   transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds   thereof.  No Indemnitee referred to in clause (b) above shall be liable for any damages arising from the   use by unintended recipients of any information or other materials distributed by it through   telecommunications, electronic or other information transmission systems in connection with this   Agreement or the other Loan Documents or the transactions contemplated hereby or thereby.   (e) Payments.  All amounts due under this Section shall be payable promptly after   demand therefor.   (f) Survival.  Each party’s obligations under this Section shall survive the   termination of the Loan Documents and payment of the obligations hereunder.   Section 12.4 Right of Setoff.  If an Event of Default shall have occurred and be continuing,   each Lender, each Issuing Lender, the Swingline Lender and each of their respective Affiliates is hereby   authorized at any time and from time to time, to the fullest extent permitted by Applicable Law, to set off   and apply any and all deposits (general or special, time or demand, provisional or final, in whatever   currency) at any time held and other obligations (in whatever currency) at any time owing by such   Lender, such Issuing Lender, the Swingline Lender or any such Affiliate to or for the credit or the account   of any Borrower or any other Credit Party against any and all of the obligations of such Borrower or such   Credit Party now or hereafter existing under this Agreement or any other Loan Document to such Lender,   such Issuing Lender or the Swingline Lender or any of their respective Affiliates, irrespective of whether   or not such Lender, such Issuing Lender, the Swingline Lender or any such Affiliate shall have made any   demand under this Agreement or any other Loan Document and although such obligations of such   Borrower or such Credit Party may be contingent or unmatured or are owed to a branch or office of such     

 

      - 109 -   Lender, such Issuing Lender, the Swingline Lender or such Affiliate different from the branch, office or   Affiliate holding such deposit or obligated on such indebtedness; provided that in the event that any   Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over   immediately to the Administrative Agent for further application in accordance with the provisions of   Section 10.4 and, pending such payment, shall be segregated by such Defaulting Lender from its other   funds and deemed held in trust for the benefit of the Administrative Agent, the Issuing Lenders, the   Swingline Lender and the Lenders, and (y) the Defaulting Lender shall provide promptly to the   Administrative Agent a statement describing in reasonable detail the Obligations owing to such   Defaulting Lender as to which it exercised such right of setoff.  The rights of each Lender, each Issuing   Lender, the Swingline Lender and their respective Affiliates under this Section are in addition to other   rights and remedies (including other rights of setoff) that such Lender, such Issuing Lender, the Swingline   Lender or their respective Affiliates may have.  Each Lender, such Issuing Lender and the Swingline   Lender agree to notify the US Borrower and the Administrative Agent promptly after any such setoff and   application; provided that the failure to give such notice shall not affect the validity of such setoff and   application.     Section 12.5 Governing Law; Jurisdiction, Etc.   (a) Governing Law.  This Agreement and the other Loan Documents and any claim,   controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out   of or relating to this Agreement or any other Loan Document (except, as to any other Loan Document, as   expressly set forth therein) and the transactions contemplated hereby and thereby shall be governed by,   and construed in accordance with, the law of the State of Illinois.   (b) Submission to Jurisdiction.  Each of the parties hereto irrevocably and   unconditionally agrees that it will not commence any action, litigation or proceeding of any kind or   description, whether in law or equity, whether in contract or in tort or otherwise, arising out of or in any   way relating to this Agreement or any other Loan Document or the transactions relating hereto or thereto,   in any forum other than the courts of the State of Illinois sitting in Cook County, and of the United States   District Court of the Northern District of Illinois, and any appellate court from any thereof, and each of   the parties hereto irrevocably and unconditionally submits to the jurisdiction of such courts and agrees   that all claims in respect of any such action, litigation or proceeding may be heard and determined in such   Illinois State court or, to the fullest extent permitted by Applicable Law, in such federal court.  Each of   the parties hereto agrees that a final judgment in any such action, litigation 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.     (c) Waiver of Venue.  Each of the parties hereto irrevocably and unconditionally   waives, to the fullest extent permitted by Applicable Law, any objection that it may now or hereafter have   to the laying of venue of any action or proceeding arising out of or relating to this Agreement or any other   Loan Document in any court referred to in paragraph (b) of this Section.  Each of the parties hereto   hereby irrevocably waives, to the fullest extent permitted by Applicable Law, the defense of an   inconvenient forum to the maintenance of such action or proceeding in any such court.   (d) Service of Process.  Each party hereto irrevocably consents to service of process   in the manner provided for notices in Section 12.1.  Nothing in this Agreement will affect the right of any   party hereto to serve process in any other manner permitted by Applicable Law.     

 

      - 110 -   Section 12.6 Waiver of Jury Trial.   EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST   EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY   JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR   RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE   TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON   CONTRACT, TORT OR ANY OTHER THEORY).  EACH PARTY HERETO (A) CERTIFIES THAT   NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS   REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN   THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND CONSENT   AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN   INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY,   AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.   Section 12.7 Reversal of Payments.  To the extent any Credit Party makes a payment or   payments to the Administrative Agent for the ratable benefit of the Lenders or the Administrative Agent   receives any payment or proceeds of the Collateral which payments or proceeds or any part thereof are   subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid   to a trustee, receiver or any other party under any Debtor Relief Law, other Applicable Law or equitable   cause, then, to the extent of such payment or proceeds repaid, the Secured Obligations or part thereof   intended to be satisfied shall be revived and continued in full force and effect as if such payment or   proceeds had not been received by the Administrative Agent.   Section 12.8 Injunctive Relief.  Each Borrower recognizes that, in the event such Borrower   fails to perform, observe or discharge any of its obligations or liabilities under this Agreement, any   remedy of law may prove to be inadequate relief to the Lenders. Therefore, each Borrower agrees that the   Lenders, at the Lenders’ option, shall be entitled to temporary and permanent injunctive relief in any such   case without the necessity of proving actual damages.   Section 12.9 Successors and Assigns; Participations.   (a) Successors and Assigns Generally.  The provisions of this Agreement shall be   binding upon and inure to the benefit of the parties hereto and their respective successors and assigns   permitted hereby, except that neither any Borrower nor any other Credit Party may assign or otherwise   transfer any of its rights or obligations hereunder without the prior written consent of the Administrative   Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations   hereunder except (i) to an assignee in accordance with the provisions of paragraph (b) of this Section,   (ii) by way of participation in accordance with the provisions of paragraph (d) of this Section or (iii) by   way of pledge or assignment of a security interest subject to the restrictions of paragraph (e) of this   Section (and any other attempted assignment or transfer by any party hereto shall be null and void).    Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other   than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent   provided in paragraph (d) of this Section and, to the extent expressly contemplated hereby, the Related   Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim   under or by reason of this Agreement.   (b) Assignments by Lenders.  Any Lender may at any time assign to one or more   assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of   its Revolving Credit Commitment and the Loans at the time owing to it); provided that, in each case with   respect to any Credit Facility, any such assignment shall be subject to the following conditions:     

 

      - 111 -   (i) Minimum Amounts.   (A) in the case of an assignment of the entire remaining amount of   the assigning Lender’s Commitment and/or the Loans at the time owing to it (in   each case with respect to any Credit Facility) or contemporaneous assignments to   related Approved Funds (determined after giving effect to such assignments) that   equal at least the amount specified in paragraph (b)(i)(B) of this Section in the   aggregate or in the case of an assignment to a Lender, an Affiliate of a Lender or   an Approved Fund, no minimum amount need be assigned; and   (B) in any case not described in paragraph (b)(i)(A) of this Section,   the aggregate amount of the Commitment (which for this purpose includes Loans   outstanding thereunder) or, if the applicable Commitment is not then in effect,   the principal outstanding balance of the Loans of the assigning Lender subject to   each such assignment (determined as of the date the Assignment and Assumption   with respect to such assignment is delivered to the Administrative Agent or, if   “Trade Date” is specified in the Assignment and Assumption, as of the Trade   Date) shall not be less than $5,000,000, in the case of any assignment in respect   of the Revolving Credit Facility, unless each of the Administrative Agent and, so   long as no Event of Default has occurred and is continuing, the US Borrower   otherwise consents (each such consent not to be unreasonably withheld or   delayed); provided that the US Borrower shall be deemed to have given its   consent five (5) Business Days after the date written notice thereof has been   delivered by the assigning Lender (through the Administrative Agent) unless   such consent is expressly refused by the US Borrower prior to such fifth (5th)   Business Day;   (ii) Proportionate Amounts.  Each partial assignment shall be made as an   assignment of a proportionate part of all the assigning Lender’s rights and obligations   under this Agreement with respect to the Loan or the Commitment assigned;   (iii) Required Consents.  No consent shall be required for any assignment   except to the extent required by paragraph (b)(i)(B) of this Section and, in addition:   (A) the consent of the US Borrower (such consent not to be   unreasonably withheld or delayed) shall be required unless (x) an Event of   Default has occurred and is continuing at the time of such assignment, (y) such   assignment is to a Lender, an Affiliate of a Lender or an Approved Fund or (z)   the assignment is made in connection with the primary syndication of the Credit   Facility and during the period commencing on the Closing Date and ending on   the date that is ninety (90) days following the Closing Date; provided, that the   US Borrower shall be deemed to have consented to any such assignment unless it   shall object thereto by written notice to the Administrative Agent within five (5)   Business Days after having received notice thereof; and provided, further, that   the US Borrower’s consent shall not be required during the primary syndication   of the Credit Facility;   (B) the consent of the Administrative Agent (such consent not to be   unreasonably withheld or delayed) shall be required for assignments in respect of   the Revolving Credit Facility if such assignment is to a Person that is not a     

 

      - 112 -   Lender with a Revolving Credit Commitment, an Affiliate of such Lender or an   Approved Fund with respect to such Lender; and   (C) the consents of the Issuing Lenders and the Swingline Lender   (such consents not to be unreasonably withheld or delayed) shall be required for   any assignment in respect of the Revolving Credit Facility.   (iv) Assignment and Assumption.  The parties to each assignment shall   execute and deliver to the Administrative Agent an Assignment and Assumption, together   with a processing and recordation fee of $3,500 for each assignment; provided that (A)   only one such fee will be payable in connection with simultaneous assignments to two or   more related Approved Funds by a Lender and (B) the Administrative Agent may, in its   sole discretion, elect to waive such processing and recordation fee in the case of any   assignment.  The assignee, if it is not a Lender, shall deliver to the Administrative Agent   an Administrative Questionnaire.   (v) No Assignment to Certain Persons.  No such assignment shall be made to   (A) the US Borrower or any of its Subsidiaries or Affiliates, (B) any direct competitor of   the US Borrower or any of its Subsidiaries or (C) any Defaulting Lender or any of its   Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute   any of the foregoing Persons described in this clause (C)   (vi) No Assignment to Natural Persons.  No such assignment shall be made   to a natural Person (or a holding company, investment vehicle or trust for, or owned and   operated for the primary benefit of, a natural Person).   (vii) Certain Additional Payments.  In connection with any assignment of   rights and obligations of any Defaulting Lender hereunder, no such assignment shall be   effective unless and until, in addition to the other conditions thereto set forth herein, the   parties to the assignment shall make such additional payments to the Administrative   Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which   may be outright payment, purchases by the assignee of participations or   subparticipations, or other compensating actions, including funding, with the consent of   the US Borrower and the Administrative Agent, the applicable pro rata share of Loans   previously requested, but not funded by, the Defaulting Lender, to each of which the   applicable assignee and assignor hereby irrevocably consent), to (A) pay and satisfy in   full all payment liabilities then owed by such Defaulting Lender to the Administrative   Agent, the Issuing Lenders, the Swingline Lender and each other Lender hereunder (and   interest accrued thereon), and (B) acquire (and fund as appropriate) its full pro rata share   of all Loans and participations in Letters of Credit and Swingline Loans in accordance   with its Revolving Credit Commitment Percentage.  Notwithstanding the foregoing, in   the event that any assignment of rights and obligations of any Defaulting Lender   hereunder shall become effective under Applicable Law without compliance with the   provisions of this paragraph, then the assignee of such interest shall be deemed to be a   Defaulting Lender for all purposes of this Agreement until such compliance occurs.   Subject to acceptance and recording thereof by the Administrative Agent pursuant to paragraph (c) of this   Section, from and after the effective date specified in each Assignment and Assumption, the assignee   thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such   Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the   assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and     

 

      - 113 -   Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment   and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such   Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 5.8,   5.9, 5.10, 5.11 and 12.3 with respect to facts and circumstances occurring prior to the effective date of   such assignment; provided, that except to the extent otherwise expressly agreed by the affected parties, no   assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder   arising from that Lender’s having been a Defaulting Lender.  Any assignment or transfer by a Lender of   rights or obligations under this Agreement that does not comply with this paragraph shall be treated for   purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in   accordance with paragraph (d) of this Section (other than a purported assignment to a natural Person or   the US Borrower or any of the US Borrower’s Subsidiaries or Affiliates or a direct competitor of the US   Borrower or its Subsidiaries, which shall be null and void.)   (c) Register.  The Administrative Agent, acting solely for this purpose as a non-   fiduciary agent of the Borrowers, shall maintain at one of its offices in Charlotte, North Carolina, a copy   of each Assignment and Assumption and each Lender Joinder Agreement delivered to it and a register for   the recordation of the names and addresses of the Lenders, and the Commitment of, and principal   amounts of (and stated interest on) the Loans owing to, each Lender pursuant to the terms hereof from   time to time (the “Register”).  The entries in the Register shall be conclusive, absent manifest error, and   the Borrowers, the Administrative Agent and the Lenders shall treat each Person whose name is recorded   in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement.    The Register shall be available for inspection by the US Borrower and any Lender (but only to the extent   of entries in the Register that are applicable to such Lender), at any reasonable time and from time to time   upon reasonable prior notice.   (d) Participations.  Any Lender may at any time, without the consent of, or notice to,   the US Borrower or the Administrative Agent, sell participations to any Person (other than a natural   Person, (or a holding company, investment vehicle or trust for, or owned and operated for the primary   benefit of, a natural Person, or any Borrower or any of such Borrower’s Subsidiaries or Affiliates) (each,   a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement   (including all or a portion of its Commitment and/or the Loans owing to it); provided that (i) such   Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely   responsible to the other parties hereto for the performance of such obligations and (iii) such Borrower, the   Administrative Agent, the Issuing Lender, the Swingline Lender 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.  For the avoidance of doubt, each Lender shall be responsible for the indemnity under   Section 12.3(c) with respect to any payments made by such Lender to its Participant(s).   Any agreement or instrument pursuant to which a Lender sells such a participation shall   provide that such Lender shall retain the sole right to enforce this Agreement and to approve any   amendment, modification or waiver of any provision of this Agreement; provided that such agreement or   instrument may provide that such Lender will not, without the consent of the Participant, agree to any   amendment, modification or waiver described in Section 12.2(b), (c), (d) or (e) that directly and adversely   affects such Participant.  Each Borrower agrees that each Participant shall be entitled to the benefits of   Sections 5.9, 5.10 and 5.11 (subject to the requirements and limitations therein, including the   requirements under Section 5.11(g) (it being understood that the documentation required under   Section 5.11(g) shall be delivered to the participating Lender)) to the same extent as if it were a Lender   and had acquired its interest by assignment pursuant to paragraph (b) of this Section; provided that such   Participant (A) agrees to be subject to the provisions of Section 5.12 as if it were an assignee under   paragraph (b) of this Section; and (B) shall not be entitled to receive any greater payment under Sections   5.10 or 5.11, with respect to any participation, than its participating Lender would have been entitled to     

 

      - 114 -   receive, except to the extent such entitlement to receive a greater payment results from a Change in Law   that occurs after the Participant acquired the applicable participation.  Each Lender that sells a   participation agrees, at the US Borrower's request and expense, to use reasonable efforts to cooperate with   the US Borrower to effectuate the provisions of Section 5.12(b) with respect to any Participant.  To the   extent permitted by law, each Participant also shall be entitled to the benefits of Section 12.4 as though it   were a Lender; provided that such Participant agrees to be subject to Section 5.6 as though it were a   Lender.   Each Lender that sells a participation shall, acting solely for this purpose as a non-   fiduciary agent of the Borrowers, maintain a register on which it enters the name and address of each   Participant and the principal amounts of (and stated interest on) each Participant’s interest in the Loans or   other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall   have any obligation to disclose all or any portion of the Participant Register (including the identity of any   Participant or any information relating to a Participant’s interest in any commitments, loans, letters of   credit or its other obligations under any Loan Document) to any Person except to the extent that such   disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in   registered form under Section 5f.103-1(c) of the United States Treasury Regulations.  The entries in the   Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person   whose name is recorded in the Participant Register as the owner of such participation for all purposes of   this Agreement notwithstanding any notice to the contrary.  For the avoidance of doubt, the   Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for   maintaining a Participant Register.   (e) Certain Pledges.  Any Lender may at any time pledge or assign a security interest   in all or any portion of its rights under this Agreement to secure obligations of such Lender, including   without limitation any pledge or assignment to secure obligations to a Federal Reserve Bank; provided   that no such pledge or assignment shall release such Lender from any of its obligations hereunder or   substitute any such pledgee or assignee for such Lender as a party hereto.   (f) Cashless Settlement.  Notwithstanding anything to the contrary contained in this   Agreement, any Lender may exchange, continue or rollover all or a portion of its Loans in connection   with any refinancing, extension, loan modification or similar transaction permitted by the terms of this   Agreement, pursuant to a cashless settlement mechanism approved by the US Borrower, the   Administrative Agent and such Lender.   Section 12.10 Treatment of Certain Information; Confidentiality.  Each of the Administrative   Agent, the Lenders and the Issuing Lender agrees to maintain the confidentiality of the Information (as   defined below), except that Information may be disclosed (a) to its Affiliates and to its and its Related   Parties in connection with the Credit Facility, this Agreement, the transactions contemplated hereby or in   connection with marketing of services by such Affiliate or Related Party to the Borrowers or any of their   Subsidiaries (it being understood that the Persons to whom such disclosure is made will be informed of   the confidential nature of such Information and instructed to keep such Information confidential), (b) to   the extent required or requested by, or required to be disclosed to, any regulatory or similar authority   purporting to have jurisdiction over such Person or its Related Parties (including any self-regulatory   authority, such as the National Association of Insurance Commissioners), (c) to the extent required by   Applicable Laws or regulations or in any legal, judicial, administrative or other compulsory process, (d)   to any other party hereto, (e) in connection with the exercise of any remedies under this Agreement, under   any other Loan Document or under any Secured Hedge Agreement or Secured Cash Management   Agreement, or any action or proceeding relating to this Agreement, any other Loan Document or any   Secured Hedge Agreement or Secured Cash Management Agreement, or the enforcement of rights   hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as those     

 

      - 115 -   of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in,   any of its rights and obligations under this Agreement, (ii) any actual or prospective party (or its Related   Parties) to any swap, derivative or other transaction under which payments are to be made by reference to   the Borrowers and their obligations, this Agreement or payments hereunder, (iii) to an investor or   prospective investor in an Approved Fund that also agrees that Information shall be used solely for the   purpose of evaluating an investment in such Approved Fund, (iv) to a trustee, collateral manager,   servicer, backup servicer, noteholder or secured party in an Approved Fund in connection with the   administration, servicing and reporting on the assets serving as collateral for an Approved Fund, or (v) to   a nationally recognized rating agency that requires access to information regarding any Borrower and its   Subsidiaries, the Loans and the Loan Documents in connection with ratings issued with respect to an   Approved Fund, (g) on a confidential basis to the CUSIP Service Bureau or any similar agency in   connection with the issuance and monitoring of CUSIP numbers with respect to the Credit Facility, (h)   with the consent of the US Borrower, (i) with respect to deal terms and other information customarily   reported to Thomson Reuters, other bank market data collectors and similar service providers to the   lending industry and service providers to the Administrative Agent and the Lenders in connection with   the administration of the Loan Documents, (j) to the extent such Information (i) becomes publicly   available other than as a result of a breach of this Section or (ii) becomes available to the Administrative   Agent, any Lender, any Issuing Lender or any of their respective Affiliates from a third party that is not,   to such Person’s knowledge, subject to confidentiality obligations to any Borrower, (k) to governmental   regulatory authorities in connection with any regulatory examination of the Administrative Agent or any   Lender or in accordance with the Administrative Agent’s or any Lender’s regulatory compliance policy if   the Administrative Agent or such Lender deems necessary for the mitigation of claims by those   authorities against the Administrative Agent or such Lender or any of its subsidiaries or affiliates, (l) to   the extent that such information is independently developed by such Person, or (m) for purposes of   establishing a “due diligence” defense.  For purposes of this Section, “Information” means all information   received from any Credit Party or any Subsidiary thereof relating to any Credit Party or any Subsidiary   thereof or any of their respective businesses, other than any such information that is available to the   Administrative Agent, any Lender or any Issuing Lender on a nonconfidential basis prior to disclosure by   any Credit Party or any Subsidiary thereof; provided that, in the case of information received from a   Credit Party or any Subsidiary thereof after the date hereof, such information is clearly identified at the   time of delivery as confidential.  Any Person required to maintain the confidentiality of Information as   provided in this Section shall be considered to have complied with its obligation to do so if such Person   has exercised the same degree of care to maintain the confidentiality of such Information as such Person   would accord to its own confidential information.   Section 12.11 Performance of Duties.  Each of the Credit Party’s obligations under this   Agreement and each of the other Loan Documents shall be performed by such Credit Party at its sole cost   and expense.   Section 12.12 All Powers Coupled with Interest.  All powers of attorney and other   authorizations granted to the Lenders, the Administrative Agent and any Persons designated by the   Administrative Agent or any Lender pursuant to any provisions of this Agreement or any of the other   Loan Documents shall be deemed coupled with an interest and shall be irrevocable so long as any of the   Obligations remain unpaid or unsatisfied, any of the Commitments remain in effect or the Credit Facility   has not been terminated.   Section 12.13 Survival.   (a) All representations and warranties set forth in Article VII and all representations   and warranties contained in any certificate, or any of the Loan Documents (including, but not limited to,   any such representation or warranty made in or in connection with any amendment thereto) shall     

 

      - 116 -   constitute representations and warranties made under this Agreement.  All representations and warranties   made under this Agreement shall be made or deemed to be made at and as of the Closing Date (except   those that are expressly made as of a specific date), shall survive the Closing Date and shall not be waived   by the execution and delivery of this Agreement, any investigation made by or on behalf of the Lenders or   any borrowing hereunder.   (b) Notwithstanding any termination of this Agreement, the indemnities to which the   Administrative Agent and the Lenders are entitled under the provisions of this Article XII and any other   provision of this Agreement and the other Loan Documents shall continue in full force and effect and   shall protect the Administrative Agent and the Lenders against events arising after such termination as   well as before.   Section 12.14 Titles and Captions.  Titles and captions of Articles, Sections and subsections in,   and the table of contents of, this Agreement are for convenience only, and neither limit nor amplify the   provisions of this Agreement.   Section 12.15 Severability of Provisions.  Any provision of this Agreement or any other Loan   Document which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be   ineffective only to the extent of such prohibition or unenforceability without invalidating the remainder of   such provision or the remaining provisions hereof or thereof or affecting the validity or enforceability of   such provision in any other jurisdiction.   Section 12.16 Counterparts; Integration; Effectiveness; Electronic Execution.   (a) Counterparts; Integration; Effectiveness.  This Agreement may be executed in   counterparts (and by different parties hereto in different counterparts), each of which shall constitute an   original, but all of which when taken together shall constitute a single contract.  This Agreement and the   other Loan Documents, and any separate letter agreements with respect to fees payable to the   Administrative Agent, the Issuing Lender, the Swingline Lender and/or the Arranger, constitute the entire   contract among the parties relating to the subject matter hereof and supersede any and all previous   agreements and understandings, oral or written, relating to the subject matter hereof.  Except as provided   in Section 6.1, this Agreement shall become effective when it shall have been executed by the   Administrative Agent and when the Administrative Agent shall have received counterparts hereof that,   when taken together, bear the signatures of each of the other parties hereto.  Delivery of an executed   counterpart of a signature page of this Agreement by facsimile or in electronic (i.e., “pdf” or “tif”) format   shall be effective as delivery of a manually executed counterpart of this Agreement.   (b) Electronic Execution of Assignments.  The words “execution,” “signed,”   “signature,” and words of like import in any Assignment and Assumption shall be deemed to include   electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal   effect, validity or enforceability as a manually executed signature or the use of a paper-based   recordkeeping system, as the case may be, to the extent and as provided for in any Applicable Law,   including the Federal Electronic Signatures in Global and National Commerce Act, the New York State   Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic   Transactions Act.   Section 12.17 Term of Agreement.  This Agreement shall remain in effect from the Closing   Date through and including the date upon which all Obligations (other than contingent indemnification   obligations not then due) arising hereunder or under any other Loan Document shall have been   indefeasibly and irrevocably paid and satisfied in full, all Letters of Credit have been terminated or   expired (or been Cash Collateralized) or otherwise satisfied in a manner acceptable to the Issuing Lender)     

 

      - 117 -   and the Revolving Credit Commitment has been terminated.  No termination of this Agreement shall   affect the rights and obligations of the parties hereto arising prior to such termination or in respect of any   provision of this Agreement which survives such termination.   Section 12.18 USA PATRIOT Act.  The Administrative Agent and each Lender hereby notifies   the Borrowers that pursuant to the requirements of the PATRIOT Act, each of them is required to obtain,   verify and record information that identifies each Credit Party, which information includes the name and   address of each Credit Party and other information that will allow such Lender to identify each Credit   Party in accordance with the PATRIOT Act.   Section 12.19 Independent Effect of Covenants.  Each Borrower expressly acknowledges and   agrees that each covenant contained in Articles VIII or IX hereof shall be given independent effect.    Accordingly, no Borrower shall engage in any transaction or other act otherwise permitted under any   covenant contained in Articles VIII or IX, before or after giving effect to such transaction or act, such   Borrower shall or would be in breach of any other covenant contained in Articles VIII or IX.   Section 12.20 No Advisory or Fiduciary Responsibility.   (a) In connection with all aspects of each transaction contemplated hereby, each   Credit Party acknowledges and agrees, and acknowledges its Affiliates’ understanding, that (i) the   facilities provided for hereunder and any related arranging or other services in connection therewith   (including in connection with any amendment, waiver or other modification hereof or of any other Loan   Document) are an arm’s-length commercial transaction between any Borrower and its Affiliates, on the   one hand, and the Administrative Agent, the Arrangers and the Lenders, on the other hand, and such   Borrower is capable of evaluating and understanding and understands and accepts the terms, risks and   conditions of the transactions contemplated hereby and by the other Loan Documents (including any   amendment, waiver or other modification hereof or thereof), (ii) in connection with the process leading to   such transaction, each of the Administrative Agent, the Arrangers and the Lenders is and has been acting   solely as a principal and is not the financial advisor, agent or fiduciary, for such Borrower or any of its   Affiliates, stockholders, creditors or employees or any other Person, (iii) none of the Administrative   Agent, the Arrangers or the Lenders has assumed or will assume an advisory, agency or fiduciary   responsibility in favor of such Borrower with respect to any of the transactions contemplated hereby or   the process leading thereto, including with respect to any amendment, waiver or other modification hereof   or of any other Loan Document (irrespective of whether any Arranger or Lender has advised or is   currently advising such Borrower or any of its Affiliates on other matters) and none of the Administrative   Agent, the Arrangers or the Lenders has any obligation to such Borrower or any of its Affiliates with   respect to the financing transactions contemplated hereby except those obligations expressly set forth   herein and in the other Loan Documents, (iv) the Arrangers and the Lenders and their respective Affiliates   may be engaged in a broad range of transactions that involve interests that differ from, and may conflict   with, those of such Borrower and its Affiliates, and none of the Administrative Agent, the Arrangers or   the Lenders has any obligation to disclose any of such interests by virtue of any advisory, agency or   fiduciary relationship and (v) the Administrative Agent, the Arrangers and the Lenders have not provided   and will not provide any legal, accounting, regulatory or tax advice with respect to any of the transactions   contemplated hereby (including any amendment, waiver or other modification hereof or of any other   Loan Document) and the Credit Parties have consulted their own legal, accounting, regulatory and tax   advisors to the extent they have deemed appropriate.   (b) Each Credit Party acknowledges and agrees that each Lender, the Arrangers and   any Affiliate thereof may lend money to, invest in, and generally engage in any kind of business with, any   of the Borrowers, any Affiliate thereof or any other person or entity that may do business with or own   securities of any of the foregoing, all as if such Lender, Arranger or Affiliate thereof were not a Lender or     

 

      - 118 -   Arranger or an Affiliate thereof (or an agent or any other person with any similar role under the Credit   Facilities) and without any duty to account therefor to any other Lender, the Arrangers, the Borrowers or   any Affiliate of the foregoing.  Each Lender, the Arrangers and any Affiliate thereof may accept fees and   other consideration from the Borrowers or any Affiliate thereof for services in connection with this   Agreement, the Credit Facilities or otherwise without having to account for the same to any other Lender,   the Arrangers, the Borrowers or any Affiliate of the foregoing.   Section 12.21 Amendment and Restatement; No Novation.  This Agreement constitutes an   amendment and restatement of the Existing Credit Agreement, effective from and after the Closing Date.    The execution and delivery of this Agreement shall not constitute a novation of any indebtedness or other   obligations owing to the Lenders or the Administrative Agent under the Existing Credit Agreement based   on facts or events occurring or existing prior to the execution and delivery of this Agreement.  On the   Closing Date, the credit facilities described in the Existing Credit Agreement, shall be amended,   supplemented, modified and restated in their entirety by the facilities described herein, and all loans and   other obligations of the Borrowers outstanding as of such date under the Existing Credit Agreement, shall   be deemed to be loans and obligations outstanding under the corresponding facilities described herein,   without any further action by any Person, except that the Administrative Agent shall make such transfers   of funds as are necessary in order that the outstanding balance of such Loans, together with any Loans   funded on the Closing Date, reflect the respective Revolving Credit Commitment of the Lenders   hereunder.   Section 12.22 Inconsistencies with Other Documents.  In the event there is a conflict or   inconsistency between this Agreement and any other Loan Document, the terms of this Agreement shall   control; provided that any provision of the Security Documents which imposes additional burdens on any   Borrower or any of its Subsidiaries or further restricts the rights of such Borrower or any of its   Subsidiaries or gives the Administrative Agent or Lenders additional rights shall not be deemed to be in   conflict or inconsistent with this Agreement and shall be given full force and effect.   Section 12.23 Anti-Money Laundering Legislation.     (a) Each Borrower acknowledges that, pursuant to the Proceeds of Crime (Money   Laundering) and Terrorist Financing Act (Canada) and other applicable anti-money laundering, anti-   terrorist financing, government sanction and “know your client” laws, whether within Canada or   elsewhere (collectively, including any guidelines or orders thereunder, “AML Legislation”), the Lenders   and the Administrative Agent may be required to obtain, verify and record information regarding such   Borrower, its directors, authorized signing officers, direct or indirect shareholders or other Persons in   control of such Borrower, and the transactions contemplated hereby.  Each Borrower shall promptly   provide all such information, including supporting documentation and other evidence, as may be   reasonably requested by any Lender or the Administrative Agent, or any prospective assignee or   participant of a Lender or the Administrative Agent, in order to comply with any applicable AML   Legislation, whether now or hereafter in existence.   (b) If the Administrative Agent has ascertained the identity of a Borrower or any   authorized signatories of a Borrower for the purposes of applicable AML Legislation, then the   Administrative Agent:   (i) shall be deemed to have done so as an agent for each Lender, and this   Agreement shall constitute a “written agreement” in such regard between each Lender   and the Administrative Agent within the meaning of applicable AML Legislation; and     

 

      - 119 -   (ii) shall provide to each Lender copies of all information obtained in such   regard without any representation or warranty as to its accuracy or completeness.   Notwithstanding the preceding sentence and except as may otherwise be agreed in writing, each of the   Lenders agrees that the Administrative Agent has no obligation to ascertain the identity of any Borrower   or any authorized signatories of such Borrower on behalf of any Lender, or to confirm the completeness   or accuracy of any information it obtains from such Borrower or any such authorized signatory in doing   so.   Section 12.24 Maximum Amount.  In no event shall the aggregate “interest” (as defined in   Section 347 (the “Criminal Code Section”) of the Criminal Code (Canada)), payable to any Lender under   this Agreement or any other Loan Document exceed the effective annual rate of interest lawfully   permitted under the Criminal Code Section on the “credit advanced” (as defined in such section) under   this Agreement or any other Loan Document.  Further, if any payment, collection or demand pursuant to   this Agreement or any other Loan Document in respect of such “interest” is determined to be contrary to   the provisions of the Criminal Code Section, such payment, collection, or demand shall be deemed to   have been made by mutual mistake of the affected Lender, and any Non-US Borrower and such “interest”   shall be deemed to have been adjusted with retroactive effect to the maximum amount or rate of interest,   as the case may be, as would not be so prohibited by the Criminal Code Section so as to result in a receipt   by such Lender of interest at a rate not in contravention of the Criminal Code Section, such adjustment to   be effected, to the extent necessary, as follows:   (i) first, by reducing the amounts or rates of interest required to be paid to   that Lender; and   (ii) second, by reducing any fees, charges, expenses and other amounts   required to be paid to the affected Lender that would constitute “interest”.   Notwithstanding the foregoing, and after giving effect to all such adjustments, if any Lender shall have   received an amount in excess of the maximum permitted by the Criminal Code Section, then any such   Canadian Borrower shall be entitled, by notice in writing to such affected Lender, to obtain   reimbursement from such Lender in an amount equal to such excess.   Section 12.25 Judgment Currency.  If for the purposes of obtaining judgment in any court, it is   necessary to convert a sum due hereunder or any other Loan Document in one currency into another   currency, the rate of exchange used shall be that at which in accordance with normal banking procedures   the Administrative Agent could purchase the first currency with such other currency on the Business Day   preceding that on which final judgment is given.  The obligation of each Credit Party in respect of any   such sum due from it to the Administrative Agent or any Lender hereunder or under the other Loan   Documents shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that   in which such sum is denominated in accordance with the applicable provisions of this Agreement (the   “Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by   the Administrative Agent or such Lender, as the case may be, of any sum adjudged to be so due in the   Judgment Currency, the Administrative Agent or such Lender, as the case may be, may in accordance   with normal banking procedures purchase the Agreement Currency with the Judgment Currency.  If the   amount of the Agreement Currency so purchased is less than the sum originally due to the Administrative   Agent or any Lender from any Credit Party in the Agreement Currency, such Credit Party agrees, as a   separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or   such Lender, as the case may be, against such loss.  If the amount of the Agreement Currency so   purchased is greater than the sum originally due to the Administrative Agent or any Lender in such     

 

      - 120 -   currency, the Administrative Agent or such Lender, as the case may be, agrees to return the amount of   any excess to such Credit Party (or to any other Person who may be entitled thereto under applicable law).   [Signature pages to follow]     

 

      [Signature Page to Amended and Restated Credit Agreement]        IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed under   seal by their duly authorized officers, all as of the day and year first written above.      FEDERAL SIGNAL CORPORATION, as US   Borrower   By:  /s/ Jennifer L. Sherman                           Name: Jennifer L. Sherman   Title: President and Chief Executive Officer   By:  /s/ Svetlana Vinokur    Name: Svetlana Vinokur   Title: Vice President, Treasurer and Corporate   Development    

 

      [Signature Page to Amended and Restated Credit Agreement]        ADMINISTRATIVE AGENT, SWINGLINE   LENDER, ISSUING LENDER AND LENDER:      WELLS FARGO BANK, NATIONAL   ASSOCIATION   By:  /s/ Brett Rausch    Name: Brett Rausch   Title: Vice President     

 

      [Signature Page to Amended and Restated Credit Agreement]        ISSUING LENDER AND LENDER:         JPMORGAN CHASE BANK, N.A.      By:  /s/ Jonathan M. Deck   Name: Jonathan M. Deck   Title: Authorized Officer        

 

      [Signature Page to Amended and Restated Credit Agreement]        LENDER:         JPMORGAN CHASE BANK, N.A.,    TORONTO BRANCH      By:  /s/ Michael N. Tam   Name: Michael N. Tam   Title: Senior Vice President     

 

      [Signature Page to Amended and Restated Credit Agreement]        LENDER:         KEYBANK NATIONAL ASSOCIATION      By:  /s/ Marcel Fournier   Name: Marcel Fournier   Title: Vice President     

 

      [Signature Page to Amended and Restated Credit Agreement]        LENDER:         SUNTRUST BANK      By:  /s/ Lisa Garling   Name: Lisa Garling   Title: Director           

 

           LENDER:         PNC BANK NATIONAL ASSOCIATION      By:  /s/ Kristin Lenda   Name: Kristin Lenda   Title: Relationship Manager

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