Document:

exv4w3

Exhibit 4.3

AMERICAN PUBLIC EDUCATION, INC.

as Primary Obligor

and

[NAME OF TRUSTEE]

as Trustee

INDENTURE

Dated as of _________ ___, 20__

Subordinated Debt Securities

 

 

TABLE OF CONTENTS

	 	 	 	 	 

	ARTICLE I. DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	 	 	1	 
	SECTION 1.01 DEFINITIONS
	 	 	1	 
	SECTION 1.02 COMPLIANCE CERTIFICATES AND OPINIONS
	 	 	12	 
	SECTION 1.03 FORM OF DOCUMENTS DELIVERED TO TRUSTEE
	 	 	13	 
	SECTION 1.04 ACTS OF HOLDERS
	 	 	13	 
	SECTION 1.05 NOTICES, ETC., TO TRUSTEE AND COMPANY
	 	 	15	 
	SECTION 1.06 NOTICE TO HOLDERS; WAIVER
	 	 	15	 
	SECTION 1.07 EFFECT OF HEADINGS AND TABLE OF CONTENTS
	 	 	16	 
	SECTION 1.08 SUCCESSORS AND ASSIGNS
	 	 	16	 
	SECTION 1.09 SEPARABILITY CLAUSE
	 	 	16	 
	SECTION 1.10 BENEFITS OF INDENTURE
	 	 	17	 
	SECTION 1.11 GOVERNING LAW
	 	 	17	 
	SECTION 1.12 LEGAL HOLIDAYS
	 	 	17	 
	SECTION 1.13 JUDGMENT CURRENCY
	 	 	17	 
	SECTION 1.14 NO PERSONAL LIABILITY
	 	 	18	 
	ARTICLE II. SECURITIES FORMS
	 	 	18	 
	SECTION 2.01 FORMS OF SECURITIES
	 	 	18	 
	SECTION 2.02 FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	 	 	18	 
	SECTION 2.03 SECURITIES ISSUABLE IN GLOBAL FORM
	 	 	19	 
	ARTICLE III. THE SECURITIES
	 	 	20	 
	SECTION 3.01 AMOUNT UNLIMITED; ISSUABLE IN SERIES
	 	 	20	 
	SECTION 3.02 DENOMINATIONS
	 	 	23	 
	SECTION 3.03 EXECUTION, AUTHENTICATION, DELIVERY AND DATING
	 	 	24	 
	SECTION 3.04 TEMPORARY SECURITIES
	 	 	26	 
	SECTION 3.05 REGISTRATION, REGISTRATION OF TRANSFER AND EXCHANGE
	 	 	28	 
	SECTION 3.06 MUTILATED, DESTROYED, LOST AND STOLEN SECURITIES
	 	 	31	 
	SECTION 3.07 PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED
	 	 	32	 
	SECTION 3.08 PERSONS DEEMED OWNERS
	 	 	34	 
	SECTION 3.09 CANCELLATION
	 	 	34	 
	SECTION 3.10 COMPUTATION OF INTEREST
	 	 	35	 
	ARTICLE IV. SATISFACTION AND DISCHARGE
	 	 	35	 
	SECTION 4.01 SATISFACTION AND DISCHARGE OF INDENTURE
	 	 	35	 
	SECTION 4.02 APPLICATION OF TRUST FUNDS
	 	 	36	 
	ARTICLE V. REMEDIES
	 	 	36	 
	SECTION 5.01 EVENTS OF DEFAULT
	 	 	36	 
	SECTION 5.02 ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT
	 	 	38	 
	SECTION 5.03 COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY TRUSTEE
	 	 	39	 
	SECTION 5.04 TRUSTEE MAY FILE PROOFS OF CLAIM
	 	 	39	 
	SECTION 5.05 TRUSTEE MAY ENFORCE CLAIMS WITHOUT POSSESSION OF SECURITIES OR COUPONS
	 	 	40	 
	SECTION 5.06 APPLICATION OF MONEY COLLECTED
	 	 	40	 
	SECTION 5.07 LIMITATION ON SUITS
	 	 	41	 
	SECTION 5.08 UNCONDITIONAL RIGHT OF HOLDERS TO RECEIVE PRINCIPAL, PREMIUM, IF ANY,
INTEREST AND ADDITIONAL AMOUNTS
	 	 	41	 
	SECTION 5.09 RESTORATION OF RIGHTS AND REMEDIES
	 	 	42	 
	SECTION 5.10 RIGHTS AND REMEDIES CUMULATIVE
	 	 	42	 
	SECTION 5.11 DELAY OR OMISSION NOT WAIVER
	 	 	42	 
	SECTION 5.12 CONTROL BY HOLDERS OF SECURITIES
	 	 	42	 
	SECTION 5.13 WAIVER OF PAST DEFAULTS
	 	 	43	 
	SECTION 5.14 WAIVER OF USURY, STAY OR EXTENSION LAWS
	 	 	43	 

i

 

	 	 	 	 	 

	SECTION 5.15 UNDERTAKING FOR COSTS
	 	 	43	 
	ARTICLE VI. THE TRUSTEE
	 	 	44	 
	SECTION 6.01 NOTICE OF DEFAULTS
	 	 	44	 
	SECTION 6.02 CERTAIN RIGHTS OF TRUSTEE
	 	 	44	 
	SECTION 6.03 NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF SECURITIES
	 	 	45	 
	SECTION 6.04 MAY HOLD SECURITIES
	 	 	46	 
	SECTION 6.05 MONEY HELD IN TRUST
	 	 	46	 
	SECTION 6.06 COMPENSATION AND REIMBURSEMENT
	 	 	46	 
	SECTION 6.07 ELIGIBILITY OF TRUSTEE; CONFLICTING INTERESTS
	 	 	47	 
	SECTION 6.08 RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR
	 	 	47	 
	SECTION 6.09 ACCEPTANCE OF APPOINTMENT BY SUCCESSOR
	 	 	48	 
	SECTION 6.10 MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS
	 	 	49	 
	SECTION 6.11 APPOINTMENT OF AUTHENTICATING AGENT
	 	 	50	 
	ARTICLE VII. HOLDERS’ LISTS AND REPORTS
	 	 	51	 
	SECTION 7.01 DISCLOSURE OF NAMES AND ADDRESSES OF HOLDERS
	 	 	51	 
	SECTION 7.02 REPORTS BY TRUSTEE
	 	 	51	 
	SECTION 7.03 COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF HOLDERS
	 	 	51	 
	ARTICLE VIII. CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
	 	 	52	 
	SECTION 8.01 COMPANY MAY CONSOLIDATE, ETC., ONLY ON CERTAIN TERMS
	 	 	52	 
	SECTION 8.02 SUCCESSOR SUBSTITUTED
	 	 	52	 
	ARTICLE IX. SUPPLEMENTAL INDENTURES
	 	 	52	 
	SECTION 9.01 SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF HOLDERS
	 	 	52	 
	SECTION 9.02 SUPPLEMENTAL INDENTURES WITH CONSENT OF HOLDERS
	 	 	53	 
	SECTION 9.03 EXECUTION OF SUPPLEMENTAL INDENTURES
	 	 	54	 
	SECTION 9.04 EFFECT OF SUPPLEMENTAL INDENTURES
	 	 	54	 
	SECTION 9.05 CONFORMITY WITH TRUST INDENTURE ACT
	 	 	55	 
	SECTION 9.06 REFERENCE IN SECURITIES TO SUPPLEMENTAL INDENTURES
	 	 	55	 
	ARTICLE X. COVENANTS
	 	 	55	 
	SECTION 10.01 PAYMENT OF PRINCIPAL, PREMIUM, IF ANY, INTEREST AND ADDITIONAL AMOUNTS
	 	 	55	 
	SECTION 10.02 MAINTENANCE OF OFFICE OR AGENCY
	 	 	55	 
	SECTION 10.03 MONEY FOR SECURITIES PAYMENTS TO BE HELD IN TRUST
	 	 	57	 
	SECTION 10.04 [RESERVED]
	 	 	58	 
	SECTION 10.05 EXISTENCE
	 	 	58	 
	SECTION 10.06 MAINTENANCE OF PROPERTIES
	 	 	58	 
	SECTION 10.07 INSURANCE
	 	 	59	 
	SECTION 10.08 PAYMENT OF TAXES AND OTHER CLAIMS
	 	 	59	 
	SECTION 10.09 COMMISSION AND OTHER REPORTS TO THE TRUSTEE
	 	 	59	 
	SECTION 10.10 STATEMENT AS TO COMPLIANCE
	 	 	60	 
	SECTION 10.11 ADDITIONAL AMOUNTS
	 	 	60	 
	SECTION 10.12 WAIVER OF CERTAIN COVENANTS
	 	 	61	 
	ARTICLE XI. REDEMPTION OF SECURITIES
	 	 	61	 
	SECTION 11.01 APPLICABILITY OF ARTICLE
	 	 	61	 
	SECTION 11.02 ELECTION TO REDEEM; NOTICE TO TRUSTEE
	 	 	61	 
	SECTION 11.03 SELECTION BY TRUSTEE OF SECURITIES TO BE REDEEMED
	 	 	61	 
	SECTION 11.04 NOTICE OF REDEMPTION
	 	 	62	 
	SECTION 11.05 DEPOSIT OF REDEMPTION PRICE
	 	 	63	 
	SECTION 11.06 SECURITIES PAYABLE ON REDEMPTION DATE
	 	 	63	 
	SECTION 11.07 SECURITIES REDEEMED IN PART
	 	 	64	 
	ARTICLE XII. SINKING FUNDS
	 	 	65	 
	SECTION 12.01 APPLICABILITY OF ARTICLE
	 	 	65	 

ii

 

	 	 	 	 	 

	SECTION 12.02 SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES
	 	 	65	 
	SECTION 12.03 REDEMPTION OF SECURITIES FOR SINKING FUND
	 	 	65	 
	ARTICLE XIII. REPAYMENT AT THE OPTION OF HOLDERS
	 	 	66	 
	SECTION 13.01 APPLICABILITY OF ARTICLE
	 	 	66	 
	SECTION 13.02 REPAYMENT OF SECURITIES
	 	 	66	 
	SECTION 13.03 EXERCISE OF OPTION
	 	 	66	 
	SECTION 13.04 WHEN SECURITIES PRESENTED FOR REPAYMENT BECOME DUE AND PAYABLE
	 	 	67	 
	SECTION 13.05 SECURITIES REPAID IN PART
	 	 	68	 
	ARTICLE XIV. DEFEASANCE AND COVENANT DEFEASANCE
	 	 	68	 
	SECTION 14.01 APPLICABILITY OF ARTICLE; COMPANY’S OPTION TO EFFECT DEFEASANCE OR
COVENANT DEFEASANCE
	 	 	68	 
	SECTION 14.02 DEFEASANCE AND DISCHARGE
	 	 	68	 
	SECTION 14.03 COVENANT DEFEASANCE
	 	 	69	 
	SECTION 14.04 CONDITIONS TO DEFEASANCE OR COVENANT DEFEASANCE
	 	 	69	 
	SECTION 14.05 DEPOSITED MONEY AND GOVERNMENT OBLIGATIONS TO BE HELD IN TRUST; OTHER
MISCELLANEOUS PROVISIONS
	 	 	71	 
	ARTICLE XV. MEETINGS OF HOLDERS OF SECURITIES
	 	 	72	 
	SECTION 15.01 PURPOSES FOR WHICH MEETINGS MAY BE CALLED
	 	 	72	 
	SECTION 15.02 CALL, NOTICE AND PLACE OF MEETINGS
	 	 	72	 
	SECTION 15.03 PERSONS ENTITLED TO VOTE AT MEETINGS
	 	 	72	 
	SECTION 15.04 QUORUM; ACTION
	 	 	72	 
	SECTION 15.05 DETERMINATION OF VOTING RIGHTS; CONDUCT AND ADJOURNMENT OF MEETINGS
	 	 	74	 
	SECTION 15.06 COUNTING VOTES AND RECORDING ACTION OF MEETINGS
	 	 	74	 
	ARTICLE XVI. GUARANTEE OF SECURITIES
	 	 	75	 
	SECTION 16.01 GUARANTEE
	 	 	75	 
	SECTION 16.02 FUTURE GUARANTORS
	 	 	78	 
	SECTION 16.03 DELIVERY OF GUARANTEE
	 	 	78	 
	ARTICLE XVII. SUBORDINATION
	 	 	78	 
	SECTION 17.01 AGREEMENT TO SUBORDINATION
	 	 	78	 
	SECTION 17.02 PAYMENTS TO HOLDERS
	 	 	78	 
	SECTION 17.03 SUBROGATION OF SECURITIES
	 	 	81	 
	SECTION 17.04 AUTHORIZATION OF EFFECT SUBORDINATION
	 	 	82	 
	SECTION 17.05 NOTICE TO TRUSTEE
	 	 	82	 
	SECTION 17.06 TRUSTEE’S RELATION TO SENIOR INDEBTEDNESS
	 	 	82	 
	SECTION 17.07 NO IMPAIRMENT OF SUBORDINATION
	 	 	83	 
	SECTION 17.08 CERTAIN CONVERSIONS DEEMED PAYMENT
	 	 	83	 
	SECTION 17.09 ARTICLE APPLICABLE TO PAYING AGENTS
	 	 	83	 
	SECTION 17.10 SENIOR INDEBTEDNESS ENTITLED TO RELY
	 	 	83	 
	SECTION 17.11 ANTI-LAYERING
	 	 	84	 

iii

 

RECONCILIATION AND TIE BETWEEN

TRUST INDENTURE ACT OF 1939 (THE “1939 ACT”) AND INDENTURE

	 	 	 
	1939 Act Section	 	Indenture Section
	Section 310(a)(1)
	 	607
	(a)(2)
	 	607
	(b)
	 	607, 608
	Section 312(c)
	 	701
	Section 313(a)
	 	702
	(c)
	 	702
	Section 314(a)
	 	703
	(a)(4)
	 	1010
	(c)(1)
	 	102
	(c)(2)
	 	102
	(e)
	 	102
	Section 315(b)
	 	601
	Section 316(a) (last sentence)
	 	101
	(“Outstanding”)
	 	 
	(a)(1)(A)
	 	502, 512
	(a)(1)(B)
	 	513
	(b)
	 	508
	Section 317(a)(1)
	 	503
	(a)(2)
	 	504
	Section 318(a)
	 	111
	(c)
	 	111

     NOTE: This reconciliation and tie shall not, for any purpose, be deemed to be a part of the
Indenture.

     Attention should also be directed to Section 318(c) of the 1939 Act, which provides that the
provisions of Sections 310 to and including 317 of the 1939 Act are a part of and govern every
qualified indenture, whether or not physically contained therein.

iv

 

INDENTURE

     INDENTURE, dated as of __________ ___, 20__, among American Public Education, Inc., a Delaware
corporation, as primary obligor (hereinafter called the “Company”), having its principal office at
111 West Congress Street, Charles Town, West Virginia 25414, and [NAME OF TRUSTEE], a __________
trust company, as trustee (hereinafter called the “Trustee”), having its Corporate Trust Office at
__________, [New York, New York], __________, and any Person becoming a Guarantor hereunder.

RECITALS

     The Company deems it necessary to issue from time to time for its lawful purposes subordinated
debt securities (hereinafter called the “Securities”) evidencing its unsecured and subordinated
indebtedness, and has duly authorized the execution and delivery of this Indenture to provide for
the issuance from time to time of the Securities, unlimited as to principal amount, to bear
interest at the rates or formulas, to mature at such times and to have such other provisions as
shall be fixed as hereinafter provided.

     This Indenture is subject to the provisions of the Trust Indenture Act of 1939, as amended,
that are deemed to be incorporated into this Indenture and shall, to the extent applicable, be
governed by such provisions.

     All things necessary to make this Indenture a valid agreement of the Company and each
Guarantor, if any, in accordance with its terms, have been done.

     NOW, THEREFORE, THIS INDENTURE WITNESSETH:

     For and in consideration of the premises and the purchase of the Securities by the Holders
thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all
Holders of the Securities, as follows:

ARTICLE I.

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

     SECTION 1.01 DEFINITIONS.

     For all purposes of this Indenture, except as otherwise expressly provided or unless the
context otherwise requires:

     (1) the terms defined in this Article have the meanings assigned to them in this
Article, and include the plural as well as the singular;

     (2) all other terms used herein which are defined in the TIA, either directly or by
reference therein, have the meanings assigned to them therein, and the terms “cash
transaction” and “self-liquidating paper”, as used in TIA Section 311, shall have the
meanings assigned to them in the rules of the Commission adopted under the TIA;

     (3) all accounting terms not otherwise defined herein have the meanings assigned to
them in accordance with GAAP; and

 

 

     (4) the words “herein”, “hereof” and “hereunder” and other words of similar import
refer to this Indenture as a whole and not to any particular Article, Section or other
subdivision.

     “Act,” when used with respect to any Holder, has the meaning specified in Section 1.04.

     “Additional Amounts” means any additional amounts which are required by a Security or by or
pursuant to a Board Resolution, under circumstances specified therein, to be paid by the Company in
respect of certain taxes imposed on certain Holders and which are owing to such Holders.

     “Affiliate” of any specified Person means any other Person directly or indirectly controlling
or controlled by or under direct or indirect common control with such specified Person. For the
purposes of this definition, “control” when used with respect to any specified Person means the
power to direct the management and policies of such Person, directly or indirectly, whether through
the ownership of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing.

     “Authenticating Agent” means any authenticating agent appointed by the Trustee pursuant to
Section 6.11.

     “Authorized Newspaper” means a newspaper, printed in the English language or in an official
language of the country of publication, customarily published on each Business Day, whether or not
published on Saturdays, Sundays or holidays, and of general circulation in each place in connection
with which the term is used or in the financial community of each such place. Whenever successive
publications are required to be made in Authorized Newspapers, the successive publications may be
made in the same or in different Authorized Newspapers in the same city meeting the foregoing
requirements and in each case on any Business Day.

     “Bankruptcy Law” has the meaning specified in Section 5.01.

     “Bearer Security” means any Security established pursuant to Section 2.01 which is payable to
bearer.

     “Board of Directors” means the board of directors of the Company or a Guarantor, as
applicable, or other body with analogous authority with respect to the Company or a Guarantor, the
executive committee of that board or body or any committee of that board or body duly authorized to
act hereunder.

     “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant
Secretary of the Company or a Guarantor, as applicable, to have been duly adopted by the Board of
Directors thereof and to be in full force and effect on the date of such certification, and
delivered to the Trustee.

     “Business Day,” when used with respect to any Place of Payment or any other particular
location referred to in this Indenture or in the Securities, means, unless otherwise specified with
respect to any Securities pursuant to Section 3.01, any day other than a Saturday, Sunday, legal
holiday or other day on which banking institutions in that Place of Payment or particular location
are authorized or required by law, regulation or executive order to close.

2

 

     “Capital Stock” means, with respect to any Person, any and all shares (including preferred
shares), interests, participations or other equity ownership interests (however designated, whether
voting or non-voting) in the Person and any rights (other than debt securities convertible into or
exchangeable for corporate Capital Stock), warrants or options to purchase any thereof.

     “Clearstream” means Clearstream Banking, societe anonyme, Luxembourg, or its successor.

     “Code” means the Internal Revenue Code of 1986 and any successor thereto, in each case as
amended from time to time, and the regulations thereunder.

     “Commission” means the Securities and Exchange Commission, as from time to time constituted,
created under the Exchange Act, or, if at any time after execution of this instrument such
Commission is not existing and performing the duties now assigned to it under the TIA then the body
performing such duties on such date.

     “Common Depositary” has the meaning specified in Section 3.04(b).

     “Common Shares” means, with respect to any Person, capital stock or shares of beneficial
interest issued by such Person other than Preferred Shares.

     “Company” means the Person named as the “Company” in the first paragraph of this Indenture
until a successor shall have become the primary obligor of the Securities pursuant to the
applicable provisions of this Indenture, and thereafter “Company” shall mean such successor
corporation.

     “Company Request” and “Company Order” mean, respectively, a written request or order signed in
the name of the Company by its Chairman of the Board, the Chief Executive Officer, the President or
a Vice President (whether or not designated by a number or a word or words added before or after
the title “vice president”), and by its Treasurer, an Assistant Treasurer, the Secretary or an
Assistant Secretary, of the Company, and delivered to the Trustee.

     “Conversion Event” means the cessation of use of (i) a Foreign Currency other than the Euro
both by the government of the country that issued such currency and for the settlement of
transactions by a central bank or other public institutions of or within the international banking
community, (ii) the Euro both within the member states of the European Union that have adopted the
single currency in accordance with the treaty establishing the European Community as amended by the
treaty of the European Union and for the settlement of transactions by public institutions of or
within the European Union or (iii) any currency for the purposes for which it was established.

     “Corporate Trust Office” means the principal corporate trust office of the Trustee at which,
at any particular time, its corporate trust business shall be principally administered, which
office at the date hereof (and for the purposes of the Place of Payment provisions of Section
10.02) is located at __________, [New York, New York] _________.

     “corporation” includes corporations, limited partnerships, limited liability companies, real
estate investment trusts, associations, companies and business trusts.

     “coupon” means any interest coupon appertaining to a Bearer Security.

     “currency” means any currency, currency unit or composite currency, including, without

3

 

limitation, the Euro, issued by the government of one or more countries or by any recognized
confederation or association of such governments.

     “Custodian” has the meaning specified in Section 5.01.

     “Defaulted Interest” has the meaning specified in Section 3.07.

     “Designated Senior Indebtedness” with respect to the Company and any Securities means the
Senior Indebtedness designated as “Designated Senior Indebtedness” in this Indenture with respect
to such Securities and any other Senior Indebtedness in which the instrument creating or evidencing
the Indebtedness, or any related agreements or documents to which the Company is a party, expressly
provides that such indebtedness is “Designated Senior Indebtedness” for purposes of this Indenture
(provided that the instrument, agreement or other document may place limitations and conditions on
the right of the Senior Indebtedness to exercise the rights of Designated Senior Indebtedness).

     “Dollar” or “$” means a dollar or other equivalent unit in such coin or currency of the United
States as at the time shall be legal tender for the payment of public and private debts.

     “DTC” means The Depository Trust Company for so long as it shall be a clearing agency
registered under the Exchange Act, or such successor as the Company shall designate from time to
time in an Officer’s Certificate delivered to the Trustee.

     “Euroclear” means Morgan Guaranty Trust Company of New York, Brussels Office, or its successor
as operator of the Euroclear System.

     “Event of Default” has the meaning specified in Article Five.

     “Exchange Act” means the Securities Exchange Act of 1934 and any successor statute thereto, in
each case as amended from time to time, and the rules and regulations of the Commission thereunder.

     “Exchange Date” has the meaning specified in Section 3.04(b).

     “Foreign Currency” means any currency issued by the government of one or more countries other
than the United States or by any recognized confederation or association of such governments.

     “GAAP” means generally accepted accounting principles, as in effect from time to time, as used
in the United States applied on a consistent basis; provided, that solely for purposes of any
calculation required by the financial covenants contained herein, “GAAP” shall mean generally
accepted accounting principles as used in the United States on the date hereof, applied on a
consistent basis.

     “Government Obligations” means securities which are (i) direct obligations of the United
States or the government or governments that issued the Foreign Currency or Currencies in which the
Securities of a particular series are payable, for the payment of which its full faith and credit
is pledged or (ii) obligations of a Person controlled or supervised by and acting as an agency or
instrumentality of the United States or such government or governments that issued the Foreign
Currency or Currencies in which the Securities of such series are payable, the payment of which is

4

 

unconditionally guaranteed as a full faith and credit obligation by the United States or such
other government or governments, which, in either case, are not callable or redeemable at the
option of the issuer thereof, and shall also include a depository receipt issued by a bank or trust
company as custodian with respect to any such Government Obligation or a specific payment of
interest on or principal of any such Government Obligation held by such custodian for the account
of the holder of a depository receipt, provided that (except as required by law) such custodian is
not authorized to make any deduction from the amount payable to the holder of such depository
receipt from any amount received by the custodian in respect of the Government Obligation or the
specific payment of interest on or principal of the Government Obligation evidenced by such
depository receipt.

     “Guarantee” has the meaning set forth in Article Sixteen.

     “Guarantor” means any Person that is liable under a Guarantee under Article Sixteen.

     “Holder” means, in the case of a Registered Security, the Person in whose name a Security is
registered in the Security Register and, in the case of a Bearer Security, the bearer thereof and,
when used with respect to any coupon, shall mean the bearer thereof.

     “Indebtedness” means:

     (i) all of the Company’s indebtedness, obligations and other liabilities, contingent or
otherwise, (1) for borrowed money, including overdrafts, foreign exchange contracts,
currency exchange agreements, interest rate protection agreements and any loans or advances
from banks, whether or not evidenced by notes or similar instruments, or (2) evidenced by
credit or loan agreements, bonds, debentures, notes or similar instruments, whether or not
the recourse of the lender is to the whole of the assets of the Company or to only a portion
thereof, other than any account payable or other accrued current liability or obligation
incurred in the ordinary course of business in connection with the obtaining of materials or
services;

     (ii) all of the Company’s reimbursement obligations and other liabilities, contingent
or otherwise, with respect to letters of credit, bank guarantees or bankers’ acceptances;

     (iii) all of the Company’s obligations and liabilities, contingent or otherwise, in
respect of leases required, in conformity with GAAP, to be accounted for as capitalized
lease obligations on the Company’s balance sheet;

     (iv) all of the Company’s obligations and other liabilities, contingent or otherwise,
under any lease or related document, including a purchase agreement, conditional sale or
other title retention agreement, in connection with the lease of real property or
improvements thereon (or any personal property included as part of any such lease) which
provides that the Company is contractually obligated to purchase or cause a third party to
purchase the leased property or pay an agreed upon residual value of the leased property,
including the Company’s obligations under such lease or related document to purchase or
cause a third party to purchase such leased property or pay an agreed upon residual value of
the leased property to the lessor;

5

 

     (v) all of the Company’s obligations, contingent or otherwise, with respect to an
interest rate or other swap, cap, floor or collar agreement or hedge agreement, forward
contract or other similar instrument or agreement or foreign currency hedge, exchange,
purchase or similar instrument or agreement;

     (vi) all of the Company’s direct or indirect guarantees or similar agreements by the
Company in respect of, and all of the Company’s obligations or liabilities to purchase or
otherwise acquire or otherwise assure a creditor against loss in respect of, indebtedness,
obligations or liabilities of another person of the kinds described in clauses (i) through
(v) above; and

     (vii) any and all deferrals, renewals, extensions, refinancings and refundings of, or
amendments, modifications or supplements to, any indebtedness, obligation or liability of
the kinds described in clauses (i) through (vi) above.

     “Indenture” means this instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the
applicable provisions hereof, and shall include the terms of particular series of Securities
established as contemplated by Section 3.01; provided, however, that, if at any time more than one
Person is acting as Trustee under this instrument, “Indenture” shall mean, with respect to any one
or more series of Securities for which such Person is Trustee, this instrument as originally
executed or as it may from time to time be supplemented or amended by one or more indentures
supplemental hereto entered into pursuant to the applicable provisions hereof and shall include the
terms of the or those particular series of Securities for which such Person is Trustee established
as contemplated by Section 3.01, exclusive, however, of any provisions or terms which relate solely
to other series of Securities for which such Person is Trustee, regardless of when such terms or
provisions were adopted, and exclusive of any provisions or terms adopted by means of one or more
indentures supplemental hereto executed and delivered after such Person had become such Trustee but
to which such Person, as such Trustee, was not a party.

     “Indexed Security” means a Security the terms of which provide that the principal amount
thereof payable at Stated Maturity may be more or less than the principal face amount thereof at
original issuance.

     “interest,” when used with respect to an Original Issue Discount Security which by its terms
bears interest only after Maturity, shall mean interest payable after Maturity, and, when used with
respect to a Security which provides for the payment of Additional Amounts pursuant to Section
10.11, includes such Additional Amounts.

     “Interest Payment Date,” when used with respect to any Security, means the Stated Maturity of
an installment of interest on such Security.

     “Make-Whole Amount,” means, in connection with any optional redemption or accelerated payment
of any Securities, the excess, if any, of: (i) the aggregate present value as of the date of such
redemption or accelerated payment of each dollar of principal being redeemed or paid and the amount
of interest (exclusive of interest accrued to the date of redemption or accelerated payment) that
would have been payable in respect of each such dollar if such redemption or accelerated payment
had not been made, determined by discounting such principal and interest at the Reinvestment Rate
(determined on the third Business Day preceding the date notice of such

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redemption is given) from the respective dates on which such principal and interest would have
been payable if such redemption or accelerated payment had not been made to the date of redemption
or accelerated payment; over (ii) the aggregate principal amount of the Securities being redeemed
or paid.

     “Maturity,” when used with respect to any Security, means the date on which the principal of
such Security or an installment of principal becomes due and payable as therein or herein provided,
whether at the Stated Maturity or by declaration of acceleration, notice of redemption, notice of
option to elect repayment or otherwise.

     “Notice of Default” has the meaning specified in Section 7.01.

     “Officers’ Certificate” means a certificate signed by the Chairman of the Board of Directors,
the Chief Executive Officer, the President or a Vice President (whether or not designated by a
number or a word or words added before or after the title “vice president”) and by the Treasurer,
an Assistant Treasurer, the Secretary or an Assistant Secretary of the Company or a Guarantor, as
applicable, and delivered to the Trustee.

     “Opinion of Counsel” means a written opinion of counsel, who may be counsel for the Company or
a Guarantor or who may be an employee of or other counsel for the Company or a Guarantor and who
shall be reasonably satisfactory to the Trustee.

     “Original Issue Discount Security” means any Security which provides for an amount less than
the principal amount thereof to be due and payable upon a declaration of acceleration of the
Maturity thereof pursuant to Section 5.02.

     “Outstanding,” when used with respect to Securities, means, as of the date of determination,
all Securities theretofore authenticated and delivered under this Indenture, except:

     (i) Securities theretofore canceled by the Trustee or delivered to the Trustee for
cancellation;

     (ii) Securities, or portions thereof, for whose payment or redemption or repayment at
the option of the Holder money in the necessary amount has been theretofore deposited with
the Trustee or any Paying Agent (other than the Company) in trust or set aside and
segregated in trust by the Company (if the Company shall act as its own Paying Agent) for
the Holders of such Securities and any coupons appertaining thereto, provided that, if such
Securities are to be redeemed, notice of such redemption has been duly given pursuant to
this Indenture or provision therefor satisfactory to the Trustee has been made;

     (iii) Securities, except to the extent provided in Sections 14.02 and 14.03, with
respect to which the Company has effected defeasance and/or covenant defeasance as provided
in Article Fourteen;

     (iv) Securities which have been paid pursuant to Section 3.06 or in exchange for or in
lieu of which other Securities have been authenticated and delivered pursuant to this
Indenture, other than any such Securities in respect of which there shall have been
presented to the Trustee proof satisfactory to it that such Securities are held by a bona
fide purchaser in whose hands such Securities are valid obligations of the Company; and

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     (v) Securities converted into Common Shares or Preferred Shares pursuant to or in
accordance with this Indenture if the terms of such Securities provide for convertibility
pursuant to Section 3.01;

     provided, however, that in determining whether the Holders of the requisite principal amount
of the Outstanding Securities have given any request, demand, authorization, direction, notice,
consent or waiver hereunder or are present at a meeting of Holders for quorum purposes, and for the
purpose of making the calculations required by TIA Section 3.13, (i) the principal amount of an
Original Issue Discount Security that may be counted in making such determination or calculation
and that shall be deemed to be Outstanding for such purpose shall be equal to the amount of
principal thereof that would be (or shall have been declared to be) due and payable, at the time of
such determination, upon a declaration of acceleration of the Maturity thereof pursuant to Section
5.02, (ii) the principal amount of any Security denominated in a Foreign Currency or Currencies
that may be counted in making such determination or calculation and that shall be deemed
Outstanding for such purpose shall be equal to the Dollar equivalent, determined pursuant to
Section 3.01 as of the date such Security is originally issued by the Company, of the principal
amount (or, in the case of an Original Issue Discount Security, the Dollar equivalent as of such
date of original issuance of the amount determined as provided in clause (i) above) of such
Security, (iii) the principal amount of any Indexed Security that may be counted in making such
determination or calculation and that shall be deemed outstanding for such purpose shall be equal
to the principal face amount of such Indexed Security at original issuance, unless otherwise
provided with respect to such Security pursuant to Section 3.01, and (iv) Securities owned by the
Company or any other obligor upon the Securities or any Affiliate of the Company or of such other
obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether
the Trustee shall be protected in making such calculation or in relying upon any such request,
demand, authorization, direction, notice, consent or waiver, only Securities which the Trustee
knows to be so owned shall be so disregarded. Securities so owned which have been pledged in good
faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee
the pledgee’s right so to act with respect to such Securities and that the pledgee is not the
Company or any other obligor upon the Securities or any Affiliate of the Company or of such other
obligor.

     “Paying Agent” means any Person authorized by the Company to pay the principal of (and
premium, if any) or interest on any Securities or coupons on behalf of the Company.

     “Payment Blockage Notice” has the meaning specified in Section 17.02.

     “Person” means any individual, corporation, partnership, joint venture, association,
joint-stock company, trust, unincorporated organization or government or agency or political
subdivision thereof.

     “Place of Payment,” when used with respect to the Securities of or within any series, means
the place or places where the principal of (and premium, if any) and interest on such Securities
are payable as specified as contemplated by Sections 3.01 and 10.02.

     “Predecessor Security” of any particular Security means every previous Security evidencing all
or a portion of the same debt as that evidenced by such particular Security; and, for the purposes
of this definition, any Security authenticated and delivered under Section 3.06 in exchange for or
in lieu of a mutilated, destroyed, lost or stolen Security or a Security to which a mutilated,
destroyed, lost or stolen coupon appertains shall be deemed to evidence the same debt as the
mutilated,

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destroyed, lost or stolen Security or the Security to which the mutilated, destroyed, lost or
stolen coupon appertains.

     “Preferred Shares” means, with respect to any Person, shares of capital stock or of beneficial
interest issued by such Person that are entitled to a preference or priority over any other shares
of capital stock or beneficial interest issued by such Person upon any distribution of such
Person’s assets, whether by dividend or upon liquidation, dissolution or winding up.

     “Recourse Indebtedness” means Indebtedness, other than Secured Indebtedness as to which
Secured Indebtedness the liability of the obligor thereon is limited to its interest in the
collateral securing such Secured Indebtedness, provided that no such Secured Indebtedness shall
constitute Recourse Indebtedness by reason of provisions therein for imposition of full recourse
liability on the obligor for certain wrongful acts, environmental liabilities, or other customary
exclusions from the so-called “non-recourse” provisions.

     “Redemption Date,” when used with respect to any Security to be redeemed, in whole or in part,
means the date fixed for such redemption by or pursuant to this Indenture.

     “Redemption Price,” when used with respect to any Security to be redeemed, means the price at
which it is to be redeemed pursuant to this Indenture.

     “Registered Security” shall mean any Security which is registered in the Security Register.

     “Regular Record Date” for the interest payable on any Interest Payment Date on the Registered
Securities of or within any series means the date specified for that purpose as contemplated by
Section 3.01, whether or not a Business Day.

     “Reinvestment Rate” means a rate per annum equal to the sum of (i) .25% (or such other
percentage specified in the terms of any Securities) plus (ii) the arithmetic mean of the yields
under the heading “Week Ending” published in the most recent Statistical Release under the caption
“Treasury Constant Maturities” for the maturity (rounded to the nearest month) corresponding to the
remaining life to maturity, as of the payment date of the principal being redeemed or paid. If no
maturity exactly corresponds to such maturity, yields for the two published maturities most closely
corresponding to such maturity shall be calculated pursuant to the immediately preceding sentence
and the Reinvestment Rate shall be interpolated or extrapolated from such yields on a straight-line
basis, rounding in each of such relevant periods to the nearest month. For the purposes of
calculating the Reinvestment Rate, the most recent Statistical Release published prior to the date
of determination of the Make-Whole Amount shall be used. If the format or content of the
Statistical Release changes in a manner that precludes determination of the Treasury yield in the
above manner, then the Treasury yield shall be determined in the manner that most closely
approximates the above manner, as reasonably determined by the Company. If the format or content of
the Statistical Release changes in a manner that precludes determination of the Treasury Yield in
the above manner, then the Treasury Yield shall be determined in the manner that most closely
approximates the above manner, as reasonably determined by the Company.

     “Repayment Date” means, when used with respect to any Security to be repaid at the option of
the Holder, the date fixed for such repayment by or pursuant to this Indenture.

     “Repayment Price” means, when used with respect to any Security to be repaid at the option

9

 

of the Holder, the price at which it is to be repaid by or pursuant to this Indenture.

     “Representative” means the indenture trustee or other trustee, agent or representative for an
issue of Senior Indebtedness.

     “Responsible Officer,” when used with respect to the Trustee, means any senior vice president,
vice president (whether or not designated by a number or a word or words added before or after the
title “vice president”), or assistant vice president, the secretary, any assistant secretary, or
any other officer working in its Corporate Trust Department and customarily performing functions
similar to those performed by any of the above designated officers and also means, with respect to
a particular corporate trust matter, any other officer to whom such matter is referred because of
such officer’s knowledge and familiarity with the particular subject.

     “Secured Indebtedness” means, without duplication, Indebtedness that is secured by a mortgage,
trust deed, deed of trust, deed to secure Indebtedness, security agreement, pledge, conditional
sale or other title retention agreement, capitalized lease, or other like agreement granting or
conveying security title to or a security interest in real property or other tangible asset(s).
Secured Indebtedness shall be deemed to be incurred (i) on the date the obligor thereon creates,
assumes, guarantees or otherwise becomes liable in respect thereof if it is secured in the manner
described in the preceding sentence on such date or (ii) on the date the obligor thereon first
secures such Indebtedness in the manner described in the preceding sentence if such Indebtedness
was not so secured on the date it was incurred.

     “Securities Act” means the Securities Act of 1933 and any successor statute thereto, in each
case as amended from time to time, and the rules and regulations of the Commission thereunder.

     “Security” has the meaning stated in the first recital of this Indenture and, more
particularly, means any Security or Securities authenticated and delivered under this Indenture;
provided, however, that, if at any time there is more than one Person acting as Trustee under this
Indenture, “Securities” with respect to the Indenture as to which such Person is Trustee shall have
the meaning stated in the first recital of this Indenture and shall more particularly mean
Securities authenticated and delivered under this Indenture, exclusive, however, of Securities of
any series as to which such Person is not Trustee.

     “Security Register” and “Security Registrar” have the respective meanings specified in Section
3.05.

     “Senior Indebtedness” means the principal of, and premium, if any, interest, including any
interest accruing after the commencement of any bankruptcy or similar proceeding, whether or not a
claim for post-petition interest is allowed as a claim in the proceeding, and rent payable on or in
connection with, and all fees, costs, expenses and other amounts accrued or due on or in connection
with, Indebtedness, whether secured or unsecured, absolute or contingent, due or to become due,
outstanding on the date of this Indenture or thereafter created, incurred, assumed, guaranteed or
in effect guaranteed by the Company, including all deferrals, renewals, extensions or refundings
of, or amendments, modifications or supplements to, the foregoing; provided, however, that Senior
Indebtedness does not include:

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     (i) Indebtedness that expressly provides that such Indebtedness (1) shall not be senior
in right of payment to the Securities, (2) shall be equal or junior in right of payment to
the Securities or (3) shall be junior in right of payment to any other Indebtedness;

     (ii) any Indebtedness to any Subsidiary, other than Indebtedness to a Subsidiary
arising by reason of guarantees by the Company of Indebtedness of such Subsidiary to a
Person that is not a Subsidiary; and

     (iii) Indebtedness for trade payables or the deferred purchase price of assets or
services incurred in the ordinary course of business.

     “Senior Subordinated Indebtedness” with respect to the Company and any Securities means any
other Securities and any other Indebtedness that specifically provides that such other Securities
or such other Indebtedness shall have the same rank in right of payment as such Securities and
shall not be subordinated in right of payment to any Indebtedness or other obligation of the
Company that is not Senior Indebtedness.

     “Significant Subsidiary” means any Subsidiary which is a “significant subsidiary” (as defined
in Article I, Rule 1-02 of Regulation S-X, promulgated under the Securities Act) of the Company.

     “Special Record Date” for the payment of any Defaulted Interest on the Registered Securities
of or within any series means a date fixed by the Trustee pursuant to Section 3.07.

     “Stated Maturity” when used with respect to any Security or any installment of principal
thereof or interest thereon, means the date specified in such Security or a coupon representing
such installment of interest as the fixed date on which the principal of such Security or such
installment of principal or interest is due and payable.

     “Statistical Release” means the statistical release designated “H.15(519)” or any successor
publication which is published weekly by the Board of Governors of the Federal Reserve System and
which reports yields on actively traded United States government securities adjusted to constant
maturities, or, if such statistical release is not published at the time of any determination under
the Indenture, then such other reasonably comparable index which shall be designated by the
Company.

     “Subordinated Indebtedness” means, with respect to the Company and any Securities
authenticated and delivered under this Indenture, any Indebtedness that specifically provides that
such Indebtedness is subordinated in right of payment to such Securities.

     “Subsidiary” means, with respect to the Company or a Guarantor, a corporation or general
partnership a majority of the outstanding voting stock of which is owned or controlled, directly or
indirectly, by the Company or the Guarantor, as applicable, or by one or more other Subsidiaries of
the Company or the Guarantor. For the purposes of this definition, “voting stock” means having
voting power for the election of directors, general partners, trustees, managing members or Persons
performing similar functions, whether at all times or only so long as no senior class of securities
has such voting power by reason of any contingency.

     “Successor Company” has the meaning specified in Section 8.01(a).

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     “Trust Indenture Act” or “TIA” means the Trust Indenture Act of 1939, as amended and as in
force at the date as of which this Indenture was executed, except as provided in Section 9.05.

     “Trustee” means the Person named as the “Trustee” in the first paragraph of this Indenture
until a successor Trustee shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee
hereunder; provided, however, that if at any time there is more than one such Person, “Trustee” as
used with respect to the Securities of any series shall mean only the Trustee with respect to
Securities of that series.

     “United States” means, unless otherwise specified with respect to any Securities pursuant to
Section 3.01, the United States of America (including the states and the District of Columbia), its
territories, its possessions and other areas subject to its jurisdiction.

     “United States person” means, unless otherwise specified with respect to any Securities
pursuant to Section 3.01, an individual who is a citizen or resident of the United States, a
corporation, partnership or other entity created or organized in or under the laws of the United
States or an estate or trust the income of which is subject to United States federal income
taxation regardless of its source.

     “Yield to Maturity” means the yield to maturity, computed at the time of issuance of a
Security (or, if applicable, at the most recent redetermination of interest on such Security) and
as set forth in such Security in accordance with generally accepted United States bond yield
computation principles.

     SECTION 1.02 COMPLIANCE CERTIFICATES AND OPINIONS.

     Upon any application or request by the Company to the Trustee to take any action under any
provision of this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate
stating that all conditions precedent, if any, provided for in this Indenture relating to the
proposed action have been complied with and an Opinion of Counsel stating that in the opinion of
such counsel all such conditions precedent, if any, have been complied with, except that in the
case of any such application or request as to which the furnishing of such documents is
specifically required by any provision of this Indenture relating to such particular application or
request, no additional certificate or opinion need be furnished.

     Every certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (including certificates delivered pursuant to Section 10.10) shall include:

     (1) a statement that each individual signing such certificate or opinion has read such
condition or covenant and the definitions herein relating thereto;

     (2) a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion are based;

     (3) a statement that, in the opinion of each such individual, he has made such
examination or investigation as is necessary to enable him to express an informed opinion as
to whether or not such condition or covenant has been complied with; and

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     (4) a statement as to whether, in the opinion of each such individual, such condition
or covenant has been complied with.

     SECTION 1.03 FORM OF DOCUMENTS DELIVERED TO TRUSTEE.

     In any case where several matters are required to be certified by, or covered by an opinion
of, any specified Person, it is not necessary that all such matters be certified by, or covered by
the opinion of, only one such Person, or that they be so certified or covered by only one document,
but one such Person may certify or give an opinion as to some matters and one or more other such
Persons as to other matters, and any such Person may certify or give an opinion as to such matters
in one or several documents.

     Any certificate or opinion of an officer of the Company may be based, insofar as it relates to
legal matters, upon an Opinion of Counsel, or a certificate or representations by counsel, unless
such officer knows, or in the exercise of reasonable care should know, that the opinion,
certificate or representations with respect to the matters upon which his certificate or opinion is
based are erroneous. Any such Opinion of Counsel or certificate or representations may be based,
insofar as it relates to factual matters, upon a certificate or opinion of, or representations by,
an officer or officers of the Company stating that the information as to such factual matters is in
the possession of the Company, unless such counsel knows that the certificate or opinion or
representations as to such matters are erroneous.

     Where any Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this Indenture, they may,
but need not, be consolidated and form one instrument.

     SECTION 1.04 ACTS OF HOLDERS.

     (a) Any request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Indenture to be given or taken by Holders of the Outstanding
Securities of all series or one or more series, as the case may be, may be embodied in and
evidenced by one or more instruments of substantially similar tenor signed by such Holders
in person or by agents duly appointed in writing. If Securities of a series are issuable as
Bearer Securities, any request, demand, authorization, direction, notice, consent, waiver or
other action provided by this Indenture to be given or taken by Holders of Securities of
such series may, alternatively, be embodied in and evidenced by the record of Holders of
Securities of such series voting in favor thereof, either in person or by proxies duly
appointed in writing, at any meeting of Holders of Securities of such series duly called and
held in accordance with the provisions of Article Fifteen, or a combination of such
instruments and any such record. Except as herein otherwise expressly provided, such action
shall become effective when such instrument or instruments or record or both are delivered
to the Trustee and, where it is hereby expressly required, to the Company. Such instrument
or instruments and any such record (and the action embodied therein and evidenced thereby)
are herein sometimes referred to as the “Act” of the Holders signing such instrument or
instruments or so voting at any such meeting. Proof of execution of any such instrument or
of a writing appointing any such agent, or of the holding by any Person of a Security, shall
be sufficient for any purpose of this Indenture and conclusive in favor of the Trustee and
the Company and any agent of the Trustee or the Company, if made in the manner provided in
this Section. The record of any meeting of Holders of Securities shall be proved in the
manner provided in Section 15.06.

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     Without limiting the generality of this Section 1.04, unless otherwise provided in or pursuant
to this Indenture, a Holder, including a U.S. depository that is a Holder of a global Security, may
make, give or take, by a proxy or proxies duly appointed in writing, any request, demand,
authorization, direction, notice, consent, waiver or other action provided in or pursuant to this
Indenture to be made, given or taken by Holders, and a U.S. depository that is a Holder of a global
Security may provide its proxy or proxies to the beneficial owners of interests in any such global
Security through such U.S. depository’s standing instructions and customary practices.

     The Trustee shall fix a record date for the purpose of determining the Persons who are
beneficial owners of interests in any permanent global Security held by a U.S. depository entitled
under the procedures of such U.S. depository to make, give or take, by a proxy or proxies duly
appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or
other action provided in or pursuant to this Indenture to be made, given or taken by Holders. If
such a record date is fixed, the Persons who are beneficial owners of interests on such record date
or their duly appointed proxy or proxies, and only such Persons, shall be entitled to make, give or
take such request, demand, authorization, direction, notice, consent, waiver or other Act, whether
or not such Persons remain beneficial owners after such record date.

     (b) The fact and date of the execution by any Person of any such instrument or writing
may be proved by the affidavit of a witness of such execution or by a certificate of a
notary public or other officer authorized by law to take acknowledgments of deeds,
certifying that the individual signing such instrument or writing acknowledged to him the
execution thereof. Where such execution is by a signer acting in a capacity other than his
individual capacity, such certificate or affidavit shall also constitute sufficient proof of
his authority. The fact and date of the execution of any such instrument or writing, or the
authority of the Person executing the same, may also be proved in any other reasonable
manner which the Trustee deems sufficient.

     (c) The ownership of Registered Securities shall be proved by the Security Register.

     (d) The ownership of Bearer Securities may be proved by the production of such Bearer
Securities or by a certificate executed, as depositary, by any trust company, bank, banker
or other depositary, wherever situated, if such certificate shall be deemed by the Trustee
to be satisfactory, showing that at the date therein mentioned such Person had on deposit
with such depositary, or exhibited to it, the Bearer Securities therein described; or such
facts may be proved by the certificate or affidavit of the Person holding such Bearer
Securities, if such certificate or affidavit is deemed by the Trustee to be reasonably
satisfactory. The Trustee and the Company may assume that such ownership of any Bearer
Security continues until (1) another certificate or affidavit bearing a later date issued in
respect of the same Bearer Security is produced, or (2) such Bearer Security is produced to
the Trustee by some other Person, or (3) such Bearer Security is surrendered in exchange for
a Registered Security, or (4) such Bearer Security is no longer Outstanding. The ownership
of Bearer Securities may also be proved in any other reasonable manner which the Trustee
deems sufficient.

     (e) If the Company shall solicit from the Holders of Registered Securities any request,
demand, authorization, direction, notice, consent, waiver or other Act, the Company may, at
its option, in or pursuant to a Board Resolution, fix in advance a record date for the
determination of Holders entitled to give such request, demand, authorization, direction,
notice, consent, waiver or other Act, but the Company shall have no obligation to do so.
Notwithstanding TIA Section 3.16(c), such record date shall be the record date specified in
or

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pursuant to such Board Resolution, which shall be a date not earlier than the date 30
days prior to the first solicitation of Holders generally in connection therewith and not
later than the date such solicitation is completed. If such a record date is fixed, such
request, demand, authorization, direction, notice, consent, waiver or other Act may be given
before or after such record date, but only the Holders of record at the close of business on
such record date shall be deemed to be Holders for the purposes of determining whether
Holders of the requisite proportion of Outstanding Securities have authorized or agreed or
consented to such request, demand, authorization, direction, notice, consent, waiver or
other Act, and for that purpose the Outstanding Securities shall be computed as of such
record date; provided that no such authorization, agreement or consent by the Holders on
such record date shall be deemed effective unless it shall become effective pursuant to the
provisions of this Indenture not later than eleven months after the record date.

     (f) Any request, demand, authorization, direction, notice, consent, waiver or other Act
of the Holder of any Security shall bind every future Holder of the same Security and the
Holder of every Security issued upon the registration of transfer thereof or in exchange
therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by
the Trustee, any Security Registrar, any Paying Agent, any Authenticating Agent or the
Company in reliance thereon, whether or not notation of such action is made upon such
Security.

     SECTION 1.05 NOTICES, ETC., TO TRUSTEE AND COMPANY.

     Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or
other document provided or permitted by this Indenture to be made upon, given or furnished to, or
filed with,

     (1) the Trustee by any Holder or by the Company shall be sufficient for every purpose
hereunder if made, given, furnished or filed in writing to or with the Trustee at its
Corporate Trust Office, Attention: Corporate Trust Department, or

     (2) the Company by the Trustee or by any Holder shall be sufficient for every purpose
hereunder (unless otherwise herein expressly provided) if in writing and mailed, first class
postage prepaid, to the Company addressed to it at the address of its principal office
specified in the first paragraph of this Indenture, Attention: Chief Legal Officer, or at
any other address previously furnished in writing to the Trustee by the Company.

     SECTION 1.06 NOTICE TO HOLDERS; WAIVER.

     Where this Indenture provides for notice of any event to Holders of Registered Securities
by the Company or the Trustee, such notice shall be sufficiently given (unless otherwise herein
expressly provided) if in writing and mailed, first-class postage prepaid, to each such Holder
affected by such event, at his address as it appears in the Security Register, not later than the
latest date, and not earlier than the earliest date, prescribed for the giving of such notice. In
any case where notice to Holders of Registered Securities is given by mail, neither the failure to
mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the
sufficiency of such notice with respect to other Holders of Registered Securities or the
sufficiency of any notice to Holders of Bearer Securities given as provided herein. Any notice
mailed to a Holder in the manner herein prescribed shall be conclusively deemed to have been
received by such Holder, whether or not such Holder actually receives such notice.

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     If by reason of the suspension of or irregularities in regular mail service or by
reason of any other cause it shall be impracticable to give such notice by mail, then such
notification to Holders of Registered Securities as shall be made with the approval of the Trustee
shall constitute a sufficient notification to such Holders for every purpose hereunder.

     Except as otherwise expressly provided herein or otherwise specified with respect to any
Securities pursuant to Section 3.01, where this Indenture provides for notice to Holders of Bearer
Securities of any event, such notice shall be sufficiently given if published in an Authorized
Newspaper in The City of New York and in such other city or cities as may be specified in such
Securities on a Business Day, such publication to be not later than the latest date, and not
earlier than the earliest date, prescribed for the giving of such notice. Any such notice shall be
deemed to have been given on the date of such publication or, if published more than once, on the
date of the first such publication.

     If by reason of the suspension of publication of any Authorized Newspaper or Authorized
Newspapers or by reason of any other cause it shall be impracticable to publish any notice to
Holders of Bearer Securities as provided above, then such notification to Holders of Bearer
Securities as shall be given with the approval of the Trustee shall constitute sufficient notice to
such Holders for every purpose hereunder. Neither the failure to give notice by publication to
Holders of Bearer Securities as provided above, nor any defect in any notice so published, shall
affect the sufficiency of any notice to Holders of Registered Securities given as provided herein.

     Any request, demand, authorization, direction, notice, consent or waiver required or permitted
under this Indenture shall be in the English language, except that any published notice may be in
an official language of the country of publication.

     Where this Indenture provides for notice in any manner, such notice may be waived in writing
by the Person entitled to receive such notice, either before or after the event, and such waiver
shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the
Trustee, but such filing shall not be a condition precedent to the validity of any action taken in
reliance upon such waiver.

SECTION 1.07 EFFECT OF HEADINGS AND TABLE OF CONTENTS.

     The Article and Section headings herein and the Table of Contents are for convenience only and
shall not affect the construction hereof.

SECTION 1.08 SUCCESSORS AND ASSIGNS.

     All covenants and agreements in this Indenture by the Company or a Guarantor shall bind their
respective successors and assigns, whether so expressed or not.

SECTION 1.09 SEPARABILITY CLAUSE.

     In case any provision in this Indenture or in any Security or coupon shall be invalid, illegal
or unenforceable, the validity, legality and enforceability of the remaining provisions shall not
in any way be affected or impaired thereby.

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SECTION 1.10 BENEFITS OF INDENTURE.

     Nothing in this Indenture or in the Securities or coupons, express or implied, shall give to
any Person, other than the parties hereto, any Security Registrar, any Paying Agent, any
Authenticating Agent and their successors hereunder and the Holders any benefit or any legal or
equitable right, remedy or claim under this Indenture.

SECTION 1.11 GOVERNING LAW.

     This Indenture and the Securities and coupons shall be governed by and construed in accordance
with the law of the State of New York applicable to agreements made or instruments entered into and
performed in said state. This Indenture is subject to the provisions of the TIA that are required
to be part of this Indenture and shall, to the extent applicable, be governed by such provisions.

SECTION 1.12 LEGAL HOLIDAYS.

     In any case where any Interest Payment Date, Redemption Date, Repayment Date, sinking fund
payment date, Stated Maturity or Maturity of any Security shall not be a Business Day at any Place
of Payment, then (notwithstanding any other provision of this Indenture or any Security or coupon
other than a provision in the Securities of any series which specifically states that such
provision shall apply in lieu hereof), payment of interest or any Additional Amounts or principal
(and premium, if any) need not be made at such Place of Payment on such date, but may be made on
the next succeeding Business Day at such Place of Payment with the same force and effect as if made
on the Interest Payment Date, Redemption Date, Repayment Date or sinking fund payment date, or at
the Stated Maturity or Maturity, provided that no interest shall accrue on the amount so payable
for the period from and after such Interest Payment Date, Redemption Date, Repayment Date, sinking
fund payment date, Stated Maturity or Maturity, as the case may be.

SECTION 1.13 JUDGMENT CURRENCY.

     To the fullest extent permitted by applicable law, (i) if for the purpose of obtaining
judgment in any court it is necessary to convert the amount due in respect of the principal of, or
premium, if any, or interest on, or Additional Amounts with respect to, the Securities of any
series from the currency in which it is due (the “Required Currency”) into a currency in which the
judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at
which in accordance with normal banking procedures the Trustee could purchase in The City of New
York the Required Currency with the Judgment Currency on the New York Banking Day preceding the day
on which such judgment is given, and (ii) the Company’s obligations under this Indenture to make
payments in the Required Currency shall, despite any judgment in the Judgment Currency, be
discharged by a payment on account thereof in the Judgment Currency only to the extent that, on the
New York Banking Day following receipt of such payment in the Judgment Currency, the Trustee may,
in accordance with normal banking procedures, purchase in The City of New York the Required
Currency with the amount of the Judgment Currency so paid; and if the amount of the Required
Currency that may be so purchased is less than the amount originally due in the Required Currency,
the Company shall have a separate and independent obligation, despite any such payment or judgment,
to indemnify the payee against such deficiency. For purposes of the foregoing, “New York Banking
Day” means any day other than a Saturday, Sunday, legal holiday or other day on which banking
institutions in The City of New York are authorized or required by law, regulation or

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executive order to close.

     SECTION 1.14 NO PERSONAL LIABILITY.

     No recourse under or upon any obligation, covenant or agreement contained in this Indenture,
in any Security or coupon appertaining thereto, or because of any indebtedness evidenced thereby,
shall be had against any promoter, as such, or against any past, present or future shareholder,
officer or director, as such, of the Company or any Guarantor or of any successor thereof, either
directly or through the Company or any Guarantor or any successor thereof, under any rule of law,
statute or constitutional provision or by the enforcement of any assessment or by any legal or
equitable proceeding or otherwise, all such liability being expressly waived and released by the
acceptance of the Securities by the Holders thereof and as part of the consideration for the issue
of the Securities.

ARTICLE II.

SECURITIES FORMS

SECTION 2.01 FORMS OF SECURITIES.

     The Registered Securities, if any, of each series and the Bearer Securities, if any, of each
series and related coupons shall be in substantially the forms as shall be established in one or
more indentures supplemental hereto or approved from time to time by or pursuant to a Board
Resolution in accordance with Section 3.01, shall have such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this Indenture or any indenture
supplemental hereto, and may have such letters, numbers or other marks of identification or
designation and such legends or endorsements placed thereon as the Company may deem appropriate and
as are not inconsistent with the provisions of this Indenture, or as may be required to comply with
any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any
stock exchange on which the Securities may be listed, or to conform to usage.

     Unless otherwise specified as contemplated by Section 3.01, Bearer Securities shall have
interest coupons attached.

     The definitive Securities and coupons shall be printed, lithographed or engraved or produced
by any combination of these methods on a steel engraved border or steel engraved borders or may be
produced in any other manner, all as determined by the officers executing such Securities or
coupons, as evidenced by their execution of such Securities or coupons.

SECTION 2.02 FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION.

     Subject to Section 6.11, the Trustee’s certificate of authentication shall be in substantially
the following form:

     This is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture.

[NAME OF TRUSTEE]

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	 	as Trustee

 	 
	 	By  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

     SECTION 2.03 SECURITIES ISSUABLE IN GLOBAL FORM.

     If Securities of or within a series are issuable in global form, as specified as contemplated
by Section 3.01, then, notwithstanding clause (8) of Section 3.01 and the provisions of Section
3.02, any such Security shall represent such of the Outstanding Securities of such series as shall
be specified therein and may provide that it shall represent the aggregate amount of Outstanding
Securities of such series from time to time endorsed thereon and that the aggregate amount of
Outstanding Securities of such series represented thereby may from time to time be increased or
decreased to reflect exchanges. Any endorsement of a Security in global form to reflect the amount,
or any increase or decrease in the amount, of Outstanding Securities represented thereby shall be
made by the Trustee (or pursuant to its direction) in such manner and upon instructions given by
such Person or Persons as shall be specified therein or in the Company Order to be delivered to the
Trustee pursuant to Section 3.03 or 3.04. Subject to the provisions of Section 3.03 and, if
applicable, Section 3.04, the Trustee shall deliver and redeliver any Security in permanent global
form in the manner and upon instructions given by the Person or Persons specified therein or in the
applicable Company Order. If a Company Order pursuant to Section 3.03 or 3.04 has been, or
simultaneously is, delivered, any instructions by the Company with respect to endorsement or
delivery or redelivery of a Security in global form shall be in writing but need not comply with
Section 1.02 and need not be accompanied by an Opinion of Counsel.

     The provisions of the last sentence of Section 3.03 shall apply to any Security represented by
a Security in global form if such Security was never issued and sold by the Company and the Company
delivers to the Trustee the Security in global form together with written instructions (which need
not comply with Section 1.02 and need not be accompanied by an Opinion of Counsel) with regard to
the reduction in the principal amount of Securities represented thereby, together with the written
statement contemplated by the last sentence of Section 3.03.

     Notwithstanding the provisions of Section 3.07, unless otherwise specified as contemplated by
Section 3.01, payment of principal of and any premium and interest on any Security in permanent
global form shall be made to the Person or Persons specified therein.

     Notwithstanding the provisions of Section 3.08 and except as provided in the preceding
paragraph, the Company, the Trustee and any agent of the Company and the Trustee shall treat as the
Holder of such principal amount of Outstanding Securities represented by a permanent global
Security (i) in the case of a permanent global Security in registered form, the Holder of such
permanent global Security in registered form, or (ii) in the case of a permanent global Security in
bearer form, Euroclear or Clearstream.

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ARTICLE III.

THE SECURITIES

SECTION 3.01 AMOUNT UNLIMITED; ISSUABLE IN SERIES.

     The aggregate principal amount of Securities which may be authenticated and delivered under
this Indenture is unlimited.

     The Securities may be issued in one or more series. There shall be established in one or more
Board Resolutions or pursuant to authority granted by one or more Board Resolutions and, subject to
Section 3.03, set forth, or determined in the manner provided, in an Officers’ Certificate, or
established in one or more indentures supplemental hereto, prior to the issuance of Securities of
any series, any or all of the following, as applicable (each of which (except for the matters set
forth in clauses (1), (2) and (15) below), if so provided, may be determined from time to time by
the Company with respect to unissued Securities of the series when issued from time to time):

     (1) the title of the Securities of the series (which shall distinguish the Securities
of such series from all other series of Securities);

     (2) any limit upon the aggregate principal amount of the Securities of the series that
may be authenticated and delivered under this Indenture (except for Securities authenticated
and delivered upon registration of transfer of, or in exchange for, or in lieu of, other
Securities of the series pursuant to Section 3.04, 3.05, 3.06, 9.06, 11.07 or 13.05);

     (3) the date or dates, or the method by which such date or dates will be determined, on
which the principal of the Securities of the series shall be payable;

     (4) the rate or rates at which the Securities of the series shall bear interest, if
any, or the method by which such rate or rates shall be determined, the date or dates from
which such interest shall accrue or the method by which such date or dates shall be
determined, the Interest Payment Dates on which such interest will be payable and the
Regular Record Date, if any, for the interest payable on any Registered Security on any
Interest Payment Date, or the method by which such date shall be determined, and the basis
upon which interest shall be calculated if other than that of a 360-day year of twelve
30-day months;

     (5) the place or places, if any, other than or in addition to the Borough of Manhattan,
The City of New York, where the principal of and premium, if any, and interest on, and any
Additional Amounts payable in respect of, Securities of the series shall be payable, any
Registered Securities of the series may be surrendered for registration of transfer,
Securities of the series may be surrendered for exchange or conversion and notices or
demands to or upon the Company in respect of Securities of the series and this Indenture may
be served;

     (6) the period or periods within which, or the date or dates on which, the price or
prices at which, the currency in which, and other terms and conditions upon which Securities
of the series may be redeemed, in whole or in part, at the option of the Company, if the
Company is to have the option;

20

 

     (7) the obligation, if any, of the Company to redeem, repay or purchase Securities of
the series pursuant to any sinking fund or analogous provision or at the option of a Holder
thereof, and the period or periods within which or the date or dates on which, the price or
prices at which, the currency or currencies in which, and other terms and conditions upon
which Securities of the series shall be redeemed, repaid or purchased, in whole or in part,
pursuant to such obligation;

     (8) if other than denominations of $1,000 and any integral multiple thereof, the
denominations in which any Registered Securities of the series shall be issuable and, if
other than the denomination of $5,000, the denomination or denominations in which any Bearer
Securities of the series shall be issuable;

     (9) if other than the Trustee, the identity of each Security Registrar and/or Paying
Agent;

     (10) if other than the principal amount thereof, the portion of the principal amount of
Securities of the series that shall be payable upon declaration of acceleration of the
Maturity thereof pursuant to Section 5.02 or, if applicable, the portion of the principal
amount of Securities of the series that is convertible in accordance with the provisions of
this Indenture, or the method by which such portion shall be determined;

     (11) if other than Dollars, the Foreign Currency or currencies in which payment of the
principal of (and premium, if any) or interest or Additional Amounts, if any, on the
Securities of the series shall be payable or in which the Securities of the series shall be
denominated;

     (12) whether the amount of payments of principal of (and premium, if any) or interest
on the Securities of the series may be determined with reference to an index, formula or
other method (which index, formula or method may be based, without limitation, on one or
more currencies, commodities, equity indices or other indices), and the manner in which such
amounts shall be determined;

     (13) whether the principal of (and premium, if any) or interest or Additional Amounts,
if any, on the Securities of the series are to be payable, at the election of the Company or
a Holder thereof, in a currency or currencies other than that in which such Securities are
payable in the absence of the making of such an election, the period or periods within which
or the date or dates on which, and the terms and conditions upon which, such election may be
made, and the time and manner of, and identity of the exchange rate agent with
responsibility for, determining the exchange rate between the currency or currencies in
which such Securities are payable in the absence of the making of such an election and the
currency or currencies in which such Securities are to be payable upon the making of such an
election;

     (14) provisions, if any, granting special rights to the Holders of Securities of the
series upon the occurrence of such events as may be specified;

     (15) any deletions from, modifications of or additions to the Events of Default or
covenants of the Company with respect to Securities of the series, whether or not such

21

 

Events of Default or covenants are consistent with the Events of Default or covenants
set forth herein;

     (16) whether Securities of the series are to be issuable as Registered Securities,
Bearer Securities (with or without coupons) or both, any restrictions applicable to the
offer, sale or delivery of Bearer Securities and the terms upon which Bearer Securities of
the series may be exchanged for Registered Securities of the series and vice versa (if
permitted by applicable laws and regulations), whether any Securities of the series are to
be issuable initially in temporary global form and whether any Securities of the series are
to be issuable in permanent global form with or without coupons and, if so, whether
beneficial owners of interests in any such permanent global Security may exchange such
interests for Securities of such series and of like tenor of any authorized form and
denomination and the circumstances under which any such exchanges may occur, if other than
in the manner provided in Section 3.05, and, if Registered Securities of the series are to
be issuable as a global Security, the identity of the depositary for such series;

     (17) the date as of which any Bearer Securities of the series and any temporary global
Security representing Outstanding Securities of the series shall be dated if other than the
date of original issuance of the first Security of the series to be issued;

     (18) the Person to whom any interest on any Registered Security of the series shall be
payable, if other than the Person in whose name that Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date for such
interest, the manner in which, or the Person to whom, any interest on any Bearer Security of
the series shall be payable, if otherwise than upon presentation and surrender of the
coupons appertaining thereto as they severally mature, and the extent to which, or the
manner in which, any interest payable on a temporary global Security on an Interest Payment
Date will be paid if other than in the manner provided in Section 3.04;

     (19) the applicability, if any, of Sections 14.02 and/or 14.03 to the Securities of the
series and any provisions in modification of, in addition to or in lieu of any of the
provisions of Article Fourteen;

     (20) if the Securities of such series are to be issuable in definitive form (whether
upon original issue or upon exchange of a temporary Security of such series) only upon
receipt of certain certificates or other documents or satisfaction of other conditions, then
the form and/or terms of such certificates, documents or conditions;

     (21) if the Securities of the series are to be issued upon the exercise of warrants,
the time, manner and place for such Securities to be authenticated and delivered;

     (22) whether and under what circumstances the Company will pay Additional Amounts as
contemplated by Section 10.11 on the Securities of the series to any Holder who is not a
United States person (including any modification to the definition of such term) in respect
of any tax, assessment or governmental charge and, if so, whether the Company will have the
option to redeem such Securities rather than pay such Additional Amounts (and the terms of
any such option);

22

 

     (23) the terms and conditions, if any, upon which the Securities may be convertible
into or exchangeable for Common Shares or other Capital Stock of the Company and the terms
and conditions upon which such conversion or exchange may be effected, including, without
limitation, the initial conversion or exchange price or rate (or manner of calculation
thereof), the portion that is convertible or exchangeable or the method by which any such
portion shall be determined, the conversion or exchange period, provisions as to whether
conversion or exchange will be at the option of the holders or the option of the Company,
the events requiring an adjustment of the conversion or exchange price, and provisions
affecting conversion or exchange in the event of the redemption of such Securities;

     (24) whether and to what extent the Securities of such series will be guaranteed by a
Guarantor and the identity of such Guarantor;

     (25) the terms, if any, of the transfer, mortgage, pledge or assignment as security for
the Securities of such series of any properties, assets, moneys, proceeds, securities or
other collateral, including whether certain provisions of the TIA are applicable and any
corresponding changes to provisions of the applicable indenture as then in effect and
including provisions addressing priority, perfection and escrow arrangements related to the
security interest; and

     (26) any other terms of the series (which terms shall not be inconsistent with the
provisions of this Indenture).

     All Securities of any one series and the coupons appertaining to any Bearer Securities of such
series shall be substantially identical except, in the case of Registered Securities, as to
denomination and except as may otherwise be provided in or pursuant to such Board Resolution
(subject to Section 3.03) and set forth in such Officers’ Certificate or in any such indenture
supplemental hereto. All Securities of any one series need not be issued at the same time and,
unless otherwise provided, a series may be reopened, without the consent of the Holders, for
issuances of additional Securities of such series.

     If any of the terms of the Securities of any series are established by action taken pursuant
to one or more Board Resolutions, a copy of an appropriate record of such action(s) shall be
certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at
or prior to the delivery of the Officers’ Certificate setting forth the terms of the Securities of
such series.

SECTION 3.02 DENOMINATIONS.

     The Securities of each series shall be issuable in such denominations as shall be specified as
contemplated by Section 3.01. With respect to Securities of any series denominated in Dollars, in
the absence of any such provisions with respect to the Securities of any series, the Registered
Securities of such series, other than Registered Securities issued in global form (which may be of
any denomination), shall be issuable in denominations of $1,000 and any integral multiple thereof
and the Bearer Securities of such series, other than Bearer Securities issued in global form (which
may be of any denomination), shall be issuable in denominations of $5,000.

23

 

SECTION 3.03 EXECUTION, AUTHENTICATION, DELIVERY AND DATING.

     The Securities and any coupons appertaining thereto shall be executed on behalf of the Company
by its Chairman of the Board, its Chief Executive Officer, its President or one of its Vice
Presidents, and attested by its Secretary or one of its Assistant Secretaries. The signature of any
of these officers on the Securities and coupons may be manual or facsimile signatures of the
present or any future such authorized officer and may be imprinted or otherwise reproduced on the
Securities.

     Securities or coupons bearing the manual or facsimile signatures of individuals who were at
any time the proper officers of the Company shall bind the Company, notwithstanding that such
individuals or any of them have ceased to hold such offices prior to the authentication and
delivery of such Securities or did not hold such offices at the date of such Securities or coupons.

     At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Securities of any series, together with any coupon appertaining thereto,
executed by the Company to the Trustee for authentication, together with a Company Order for the
authentication and delivery of such Securities, and the Trustee in accordance with the Company
Order shall authenticate and deliver such Securities; provided, however, that, in connection with
its original issuance, no Bearer Security shall be mailed or otherwise delivered to any location in
the United States; and provided further that, unless otherwise specified with respect to any series
of Securities pursuant to Section 3.01, a Bearer Security may be delivered in connection with its
original issuance only if the Person entitled to receive such Bearer Security shall have furnished
a certificate to Euroclear or Clearstream, as the case may be, in the form set forth in Exhibit A-1
to this Indenture or such other certificate as may be specified with respect to any series of
Securities pursuant to Section 3.01, dated no earlier than 15 days prior to the earlier of the date
on which such Bearer Security is delivered and the date on which any temporary Security first
becomes exchangeable for such Bearer Security in accordance with the terms of such temporary
Security and this Indenture. If any Security shall be represented by a permanent global Bearer
Security, then, for purposes of this Section and Section 3.04, the notation of a beneficial owner’s
interest therein upon original issuance of such Security or upon exchange of a portion of a
temporary global Security shall be deemed to be delivery in connection with its original issuance
of such beneficial owner’s interest in such permanent global Security. Except as permitted by
Section 3.06, the Trustee shall not authenticate and deliver any Bearer Security unless all
appurtenant coupons for interest then matured have been detached and canceled.

     If all the Securities of any series are not to be issued at one time and if the Board
Resolution or supplemental indenture establishing such series shall so permit, such Company Order
may set forth procedures acceptable to the Trustee for the issuance of such Securities and
determining the terms of particular Securities of such series, such as interest rate or formula,
maturity date, redemption or repayment provisions, currency of denomination and payment, date of
issuance and date from which interest shall accrue. In authenticating such Securities, and
accepting the additional responsibilities under this Indenture in relation to such Securities and
any coupons appertaining thereto, the Trustee shall be entitled to receive, and (subject to TIA
Section 3.15(a) through 3.15(d)) shall be fully protected in relying upon,

     (i) an Opinion of Counsel stating that

24

 

     (a) the form or forms of such Securities and any coupons have been established in
conformity with the provisions of this Indenture;

     (b) the terms of such Securities and any coupons have been established in conformity
with the provisions of this Indenture; and

     (c) such Securities, together with any coupons appertaining thereto, when completed by
appropriate insertions and executed and delivered by the Company to the Trustee for
authentication in accordance with this Indenture, authenticated and delivered by the Trustee
in accordance with this Indenture and issued by the Company in the manner and subject to any
conditions specified in such Opinion of Counsel, will constitute legal, valid and binding
obligations of the Company, enforceable in accordance with their terms, subject to
applicable bankruptcy, insolvency, reorganization and other similar laws of general
applicability relating to or affecting the enforcement of creditors’ rights generally and to
general equitable principles, and will entitle the Holders thereof to the benefits of this
Indenture and any related Guarantee issued pursuant hereto; and

     (ii) an Officers’ Certificate stating that all conditions precedent provided for in this
Indenture relating to the issuance of the Securities have been complied with and that, to the best
of the knowledge of the signers of such certificate, no Event of Default with respect to any of the
Securities shall have occurred and be continuing.

     If such form or terms have been so established, the Trustee shall not be required to
authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect
the Trustee’s own rights, duties, obligations or immunities under the Securities and this Indenture
or otherwise in a manner which is not reasonably acceptable to the Trustee.

     Notwithstanding the provisions of Section 3.01 and of the second preceding paragraph, if all
the Securities of any series are not to be issued at one time, it shall not be necessary to deliver
an Officers’ Certificate otherwise required pursuant to Section 3.01 or a Company Order, or an
Opinion of Counsel or an Officers’ Certificate otherwise required pursuant to the second preceding
paragraph at the time of issuance of each Security of such series, but such order, opinion and
certificates, with appropriate modifications to cover such future issuances, shall be delivered at
or before the time of issuance of the first Security of such series. After any such first delivery,
any separate request by the Company that the Trustee authenticate Securities of such series for
original issue will be deemed to be a certification by the Company that all conditions precedent
provided for in this Indenture relating to authentication and delivery of such Securities continue
to have been complied with.

     Each Registered Security shall be dated the date of its authentication and each Bearer
Security shall be dated as of the date specified as contemplated by Section 3.01.

     No Security or coupon shall be entitled to any benefit under this Indenture or any related
Guarantee or be valid or obligatory for any purpose unless there appears on such Security or
Security to which such coupon appertains a certificate of authentication substantially in the form
provided for herein duly executed by the Trustee by manual signature of an authorized signatory,
and such certificate upon any Security shall be conclusive evidence, and the only evidence, that
such Security has been duly authenticated and delivered hereunder and is entitled to the benefits
of this Indenture and any related Guarantee. Notwithstanding the foregoing, if any Security shall
have been authenticated and delivered hereunder but never issued and sold by the Company, and the
Company shall deliver such Security to the Trustee for cancellation as provided in Section 3.09

25

 

together with a written statement (which need not comply with Section 1.02 and need not be
accompanied by an Opinion of Counsel) stating that such Security has never been issued and sold by
the Company, the Trustee shall be fully justified in relying thereon and in cancelling such
Security and for all purposes of this Indenture such Security shall be deemed never to have been
authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture
and any related Guarantee.

SECTION 3.04 TEMPORARY SECURITIES.

     (a) Pending the preparation of definitive Securities of any series, the Company may
execute, and upon Company Order the Trustee shall authenticate and deliver, temporary
Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced,
in any authorized denomination, substantially of the tenor of the definitive Securities in
lieu of which they are issued, in registered form, or, if authorized, in bearer form with
one or more coupons or without coupons, and with such appropriate insertions, omissions,
substitutions and other variations as the officers executing such Securities may determine,
as conclusively evidenced by their execution of such Securities. In the case of Securities
of any series, such temporary Securities may be in global form.

     Except in the case of temporary Securities in global form (which shall be exchanged in
accordance with Section 3.04(b) or as otherwise provided in or pursuant to a Board Resolution), if
temporary Securities of any series are issued, the Company will cause definitive Securities of that
series to be prepared without unreasonable delay. After the preparation of definitive Securities of
such series, the temporary Securities of such series shall be exchangeable for definitive
Securities of such series upon surrender of the temporary Securities of such series at the office
or agency of the Company in a Place of Payment for that series, without charge to the Holder. Upon
surrender for cancellation of any one or more temporary Securities of any series (accompanied by
any non-matured coupons appertaining thereto), the Company shall execute and the Trustee shall
authenticate and deliver in exchange therefor a like principal amount of definitive Securities of
the same series of authorized denominations; provided, however, that no definitive Bearer Security
shall be delivered in exchange for a temporary Registered Security; and provided further that a
definitive Bearer Security shall be delivered in exchange for a temporary Bearer Security only in
compliance with the conditions set forth in Section 3.03. Until so exchanged, the temporary
Securities of any series shall in all respects be entitled to the same benefits under this
Indenture as definitive Securities of such series.

     (b) Unless otherwise provided in or pursuant to a Board Resolution, this Section
3.04(b) shall govern the exchange of temporary Securities issued in global form other than
through the facilities of DTC. If any such temporary Security is issued in global form, then
such temporary global Security shall, unless otherwise provided therein, be delivered to the
London office of a depositary or common depositary (the “Common Depositary”), for the
benefit of Euroclear and Clearstream, for credit to the respective accounts of the
beneficial owners of such Securities (or to such other accounts as they may direct).

     Without unnecessary delay but in any event not later than the date specified in, or determined
pursuant to the terms of, any such temporary global Security (the “Exchange Date”), the Company
shall deliver to the Trustee definitive Securities, in aggregate principal amount equal to the
principal amount of such temporary global Security, executed by the Company. On or after the
Exchange Date, such temporary global Security shall be surrendered by the Common Depositary to the
Trustee, as the Company’s agent for such purpose, to be exchanged, in whole or from time to

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time in part, for definitive Securities without charge, and the Trustee shall authenticate and
deliver (subject to the Trustee’s receipt of sufficient delivery instructions from, or provided by
or on behalf of, the Common Depositary), in exchange for each portion of such temporary global
Security, an equal aggregate principal amount of definitive Securities of the same series of
authorized denominations and of like tenor as the portion of such temporary global Security to be
exchanged. The definitive Securities to be delivered in exchange for any such temporary global
Security shall be in bearer form, registered form, permanent global bearer form or permanent global
registered form, or any combination thereof, as specified as contemplated by Section 3.01, and, if
any combination thereof is so specified, as requested by the beneficial owner thereof (as
identified or provided to the Trustee by the Common Depositary, or by Euroclear or Clearstream, as
applicable); provided, however, that, unless otherwise specified in such temporary global Security,
upon such presentation by the Common Depositary, such temporary global Security shall be
accompanied by a certificate dated the Exchange Date or a subsequent date and signed by Euroclear
as to the portion of such temporary global Security held for its account then to be exchanged and a
certificate dated the Exchange Date or a subsequent date and signed by Clearstream as to the
portion of such temporary global Security held for its account then to be exchanged, each in the
form set forth in Exhibit A-2 to this Indenture or in such other form as may be established
pursuant to Section 3.01; and provided further that definitive Bearer Securities shall be delivered
in exchange for a portion of a temporary global Security only in compliance with the requirements
of Section 3.03.

     Unless otherwise specified in such temporary global Security, the interest of a beneficial
owner of Securities of a series in a temporary global Security shall be exchanged for definitive
Securities of the same series and of like tenor following the Exchange Date when the account holder
instructs Euroclear or Clearstream, as the case may be, to request such exchange on his behalf and
delivers to Euroclear or Clearstream, as the case may be, a certificate in the form set forth in
Exhibit A-1 to this Indenture (or in such other form as may be established pursuant to Section
3.01), dated no earlier than 15 days prior to the Exchange Date, copies of which certificate shall
be available from the offices of Euroclear and Clearstream, the Trustee, any Authenticating Agent
appointed for such series of Securities and each Paying Agent. Unless otherwise specified in such
temporary global Security, any such exchange shall be made free of charge to the beneficial owners
of such temporary global Security, except that a Person receiving definitive Securities must bear
the cost of insurance, postage, transportation and the like unless such Person takes delivery of
such definitive Securities in person at the offices of Euroclear or Clearstream. Definitive
Securities in bearer form to be delivered in exchange for any portion of a temporary global
Security shall be delivered only outside the United States.

     Until exchanged in full as hereinabove provided, the temporary Securities of any series shall
in all respects be entitled to the same benefits under this Indenture as definitive Securities of
the same series and of like tenor authenticated and delivered hereunder, except that, unless
otherwise specified as contemplated by Section 3.01, interest payable on a temporary global
Security on an Interest Payment Date for Securities of such series occurring prior to the
applicable Exchange Date shall be payable to Euroclear and Clearstream on such Interest Payment
Date upon delivery by Euroclear and Clearstream to the Trustee of a certificate or certificates in
the form set forth in Exhibit A-2 to this Indenture (or in such other forms as may be established
pursuant to Section 3.01), for credit without further interest on or after such Interest Payment
Date to the respective accounts of Persons who are the beneficial owners of such temporary global
Security on such Interest Payment Date and who have each delivered to Euroclear or Clearstream, as
the case may be, a certificate dated no earlier than 15 days prior to the Interest Payment Date
occurring prior to such Exchange Date in the form set forth as Exhibit A-1 to this Indenture (or in
such other forms as may be

27

 

established pursuant to Section 3.01). Notwithstanding anything to the contrary herein
contained, the certifications made pursuant to this paragraph shall satisfy the certification
requirements of the preceding two paragraphs of this Section 3.04(b) and of the third paragraph of
Section 3.03 of this Indenture (in each case, without delivery of a certificate in the form of
Exhibit A-1) and the interests of the Persons who are the beneficial owners of the temporary global
Security with respect to which such certification was made will be exchanged for definitive
Securities of the same series and of like tenor on the Exchange Date or the date of certification
if such date occurs after the Exchange Date, without further act or deed by such beneficial owners.
Except as otherwise provided in this paragraph, no payments of principal or interest owing with
respect to a beneficial interest in a temporary global Security will be made unless and until such
interest in such temporary global Security shall have been exchanged for an interest in a
definitive Security. Any interest so received by Euroclear and Clearstream and not paid as herein
provided shall be returned to the Trustee prior to the expiration of two years after such Interest
Payment Date in order to be repaid to the Company (subject, however, to any abandoned property laws
that may be applicable).

SECTION 3.05 REGISTRATION, REGISTRATION OF TRANSFER AND EXCHANGE.

     The Company shall cause to be kept at the Corporate Trust Office of the Trustee or in any
office or agency of the Company in a Place of Payment a register for each series of Securities (the
registers maintained in such office or in any such office or agency of the Company in a Place of
Payment being herein sometimes referred to collectively as the “Security Register”) in which,
subject to such reasonable regulations as it may prescribe, the Company shall provide for the
registration of Registered Securities and of transfers of Registered Securities. The Security
Register shall be in written form or any other form capable of being converted into written form
within a reasonable time. The Trustee, at its Corporate Trust Office, is hereby initially appointed
“Security Registrar” for the purpose of registering Registered Securities and transfers of
Registered Securities on such Security Register as herein provided. In the event that the Trustee
shall cease to be Security Registrar, it shall have the right to examine the Security Register at
all reasonable times.

     Subject to the provisions of this Section 3.05, upon surrender for registration of transfer of
any Registered Security of any series at any office or agency of the Company in a Place of Payment
for that series, the Company shall execute, and the Trustee shall authenticate and deliver, in the
name of the designated transferee or transferees, one or more new Registered Securities of the same
series, of any authorized denominations and of a like aggregate principal amount, bearing a number
not contemporaneously outstanding, and containing identical terms and provisions.

     Subject to the provisions of this Section 3.05, at the option of the Holder, Registered
Securities of any series may be exchanged for other Registered Securities of the same series, of
any authorized denomination or denominations and of a like aggregate principal amount, containing
identical terms and provisions, upon surrender of the Registered Securities to be exchanged at any
such office or agency. Whenever any such Registered Securities are so surrendered for exchange, the
Company shall execute, and the Trustee shall authenticate and deliver, the Registered Securities
which the Holder making the exchange is entitled to receive. Unless otherwise specified with
respect to any series of Securities as contemplated by Section 3.01, Bearer Securities may not be
issued in exchange for Registered Securities.

     If (but only if) permitted by the applicable Board Resolution and (subject to Section 3.03)
set forth in the applicable Officers’ Certificate, or in any indenture supplemental hereto,
delivered as

28

 

contemplated by Section 3.01, at the option of the Holder, Bearer Securities of any series may
be exchanged for Registered Securities of the same series of any authorized denominations and of a
like aggregate principal amount and tenor, upon surrender of the Bearer Securities to be exchanged
at any such office or agency, with all unmatured coupons and all matured coupons in default thereto
appertaining. If the Holder of a Bearer Security is unable to produce any such unmatured coupon or
coupons or matured coupon or coupons in default, any such permitted exchange may be effected if the
Bearer Securities are accompanied by payment in funds acceptable to the Company in an amount equal
to the face amount of such missing coupon or coupons, or the surrender of such missing coupon or
coupons may be waived by the Company and the Trustee if there is furnished to them such security or
indemnity as they may require to save each of them and any Paying Agent harmless. If thereafter the
Holder of such Security shall surrender to any Paying Agent any such missing coupon in respect of
which such a payment shall have been made, such Holder shall be entitled to receive the amount of
such payment; provided, however, that, except as otherwise provided in Section 10.02, interest
represented by coupons shall be payable only upon presentation and surrender of those coupons at an
office or agency located outside the United States. Notwithstanding the foregoing, in case a Bearer
Security of any series is surrendered at any such office or agency in a permitted exchange for a
Registered Security of the same series and like tenor after the close of business at such office or
agency on (i) any Regular Record Date and before the opening of business at such office or agency
on the relevant Interest Payment Date, or (ii) any Special Record Date and before the opening of
business at such office or agency on the related proposed date for payment of Defaulted Interest,
such Bearer Security shall be surrendered without the coupon relating to such Interest Payment Date
or proposed date for payment, as the case may be, and interest or Defaulted Interest, as the case
may be, will not be payable on such Interest Payment Date or proposed date for payment, as the case
may be, in respect of the Registered Security issued in exchange for such Bearer Security, but will
be payable only to the Holder of such coupon when due in accordance with the provisions of this
Indenture. Whenever any Securities are so surrendered for exchange, the Company shall execute, and
the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is
entitled to receive.

     Notwithstanding the foregoing, except as otherwise specified as contemplated by Section 3.01,
any permanent global Security shall be exchangeable only as provided in this paragraph. If the
depositary for any permanent global Security is DTC, then, unless the terms of such global Security
expressly permit such global Security to be exchanged in whole or in part for definitive
Securities, a global Security may be transferred, in whole but not in part, only to a nominee of
DTC, or by a nominee of DTC to DTC, or to a successor to DTC for such global Security selected or
approved by the Company or to a nominee of such successor to DTC. If at any time DTC notifies the
Company that it is unwilling or unable to continue as depositary for the applicable global Security
or Securities or if at any time DTC ceases to be a clearing agency registered under the Exchange
Act if so required by applicable law or regulation, the Company shall appoint a successor
depositary with respect to such global Security or Securities. If (x) a successor depositary for
such global Security or Securities is not appointed by the Company within 90 days after the Company
receives such notice or becomes aware of such unwillingness, inability or ineligibility, (y) an
Event of Default has occurred and is continuing and the beneficial owners representing a majority
in principal amount of the applicable series of Securities represented by such global Security or
Securities advise DTC to cease acting as depositary for such global Security or Securities or (z)
the Company, in its sole discretion, determines at any time that all Outstanding Securities (but
not less than all) of any series issued or issuable in the form of one or more global Securities
shall no longer be represented by such global Security or Securities, then the Company shall
execute, and the Trustee shall

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authenticate and deliver definitive Securities of like series, rank, tenor and terms in
definitive form in an aggregate principal amount equal to the principal amount of such global
Security or Securities. If any beneficial owner of an interest in a permanent global Security is
otherwise entitled to exchange such interest for Securities of such series and of like tenor and
principal amount of another authorized form and denomination, as specified as contemplated by
Section 3.01 and provided that any applicable notice provided in the permanent global Security
shall have been given, then without unnecessary delay but in any event not later than the earliest
date on which such interest may be so exchanged, the Company shall execute, and the Trustee shall
authenticate and deliver (subject to receipt of adequate instructions as to such beneficial
ownership from DTC or the Company), definitive Securities in aggregate principal amount equal to
the principal amount of such beneficial owner’s interest in such permanent global Security. On or
after the earliest date on which such interests may be so exchanged, such permanent global Security
shall be surrendered for exchange by DTC or such other depositary as shall be specified in the
Company Order with respect thereto to the Trustee, as the Company’s agent for such purpose;
provided, however, that no such exchanges may occur during a period beginning at the opening of
business 15 days before any selection of Securities to be redeemed and ending on the relevant
Redemption Date if the Security for which exchange is requested may be among those selected for
redemption; and provided further that no Bearer Security delivered in exchange for a portion of a
permanent global Security shall be mailed or otherwise delivered to any location in the United
States. If a Registered Security is issued in exchange for any portion of a permanent global
Security after the close of business at the office or agency where such exchange occurs on (i) any
Regular Record Date and before the opening of business at such office or agency on the relevant
Interest Payment Date, or (ii) any Special Record Date and before the opening of business at such
office or agency on the related proposed date for payment of Defaulted Interest, interest or
Defaulted Interest, as the case may be, will not be payable on such Interest Payment Date or
proposed date for payment, as the case may be, in respect of such Registered Security, but will be
payable on such Interest Payment Date or proposed date for payment, as the case may be, only to the
Person to whom interest in respect of such portion of such permanent global Security is payable in
accordance with the provisions of this Indenture.

     All Securities issued upon any registration of transfer or exchange of Securities shall be the
valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under
this Indenture, as the Securities surrendered upon such registration of transfer or exchange.

     Every Registered Security presented or surrendered for registration of transfer or for
exchange or redemption shall (if so required by the Company or the Security Registrar) be duly
endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company
and the Security Registrar, duly executed by the Holder thereof or his attorney duly authorized in
writing.

     No service charge shall be made for any registration of transfer or exchange of Securities,
but the Company may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any registration of transfer or exchange of
Securities, other than exchanges pursuant to Section 3.04, 9.06, 11.07 or 13.05 not involving any
transfer.

     The Company or the Trustee, as applicable, shall not be required (i) to issue, register the
transfer of or exchange any Security if such Security may be among those selected for redemption
during a period beginning at the opening of business 15 days before selection of the Securities to
be redeemed under Section 11.03 and ending at the close of business on (A) if such Securities are
issuable only as Registered Securities, the day of the mailing of the relevant notice of redemption

30

 

and (B) if such Securities are issuable as Bearer Securities, the day of the first publication
of the relevant notice of redemption or, if such Securities are also issuable as Registered
Securities and there is no publication, the mailing of the relevant notice of redemption, or (ii)
to register the transfer of or exchange any Registered Security so selected for redemption in whole
or in part, except, in the case of any Registered Security to be redeemed in part, the portion
thereof not to be redeemed, or (iii) to exchange any Bearer Security so selected for redemption
except that such a Bearer Security may be exchanged for a Registered Security of that series and
like tenor, provided that such Registered Security shall be simultaneously surrendered for
redemption, or (iv) to issue, register the transfer of or exchange any Security which has been
surrendered for repayment at the option of the Holder, except the portion, if any, of such Security
not to be so repaid.

SECTION 3.06 MUTILATED, DESTROYED, LOST AND STOLEN SECURITIES.

     If any mutilated Security or a Security with a mutilated coupon appertaining to it is
surrendered to the Trustee or the Company, together with, in proper cases, such security or
indemnity as may be required by the Company or the Trustee to save each of them or any agent of
either of them harmless, the Company shall execute and the Trustee shall authenticate and deliver
in exchange therefor a new Security of the same series and principal amount, containing identical
terms and provisions and bearing a number not contemporaneously outstanding, with coupons
corresponding to the coupons, if any, appertaining to the surrendered Security.

     If there shall be delivered to the Company and to the Trustee (i) evidence to their
satisfaction of the destruction, loss or theft of any Security or coupon, and (ii) such security or
indemnity as may be reasonably required by them to save each of them and any agent of either of
them harmless, then, in the absence of notice to the Company or the Trustee that such Security or
coupon has been acquired by a bona fide purchaser, the Company shall execute and upon its request
the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security
or in exchange for the Security to which a destroyed, lost or stolen coupon appertains (with all
appurtenant coupons not destroyed, lost or stolen), a new Security of the same series and principal
amount, containing identical terms and provisions and bearing a number not contemporaneously
outstanding, with coupons corresponding to the coupons, if any, appertaining to such destroyed,
lost or stolen Security or to the Security to which such destroyed, lost or stolen coupon
appertains.

     Notwithstanding the provisions of the previous two paragraphs, in case any such mutilated,
destroyed, lost or stolen Security or coupon has become or is about to become due and payable, the
Company in its discretion may, instead of issuing a new Security, with coupons corresponding to the
coupons, if any, appertaining to such destroyed, lost or stolen Security or to the Security to
which such destroyed, lost or stolen coupon appertains, pay such Security or coupon; provided,
however, that payment of principal of (and premium, if any), any interest on and any Additional
Amounts with respect to, Bearer Securities shall, except as otherwise provided in Section 10.02, be
payable only at an office or agency located outside the United States and, unless otherwise
specified as contemplated by Section 3.01, any interest on Bearer Securities shall be payable only
upon presentation and surrender of the coupons appertaining thereto.

     Upon the issuance of any new Security under this Section, the Company may require the payment
of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation
thereto and any other expenses (including the fees and expenses of the Trustee) connected
therewith.

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     Every new Security of any series with its coupons, if any, issued pursuant to this Section in
lieu of any destroyed, lost or stolen Security, or in exchange for a Security to which a destroyed,
lost or stolen coupon appertains, shall constitute an original additional contractual obligation of
the Company, whether or not the destroyed, lost or stolen Security and its coupons, if any, or the
destroyed, lost or stolen coupon shall be at any time enforceable by anyone, and shall be entitled
to all the benefits of this Indenture and any related Guarantees equally and proportionately with
any and all other Securities of that series and their coupons, if any, duly issued hereunder.

     The provisions of this Section are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost
or stolen Securities or coupons.

SECTION 3.07 PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED.

     Except as otherwise specified with respect to a series of Securities in accordance with the
provisions of Section 3.01, interest on any Registered Security that is payable, and is punctually
paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name
that Security (or one or more Predecessor Securities) is registered at the close of business on the
Regular Record Date for the payment of such interest as follows: (i) to Holders having an aggregate
principal amount of $1,000,000 or less of Securities, by check mailed to such Holders at the
address set forth in the Security Register; and (ii) to Holders having an aggregate principal
amount of more than $1,000,000 of Securities, either by check mailed to such Holders or, upon
application by a Holder to the Security Registrar not later than the Regular Record Date for the
payment of such interest, by wire transfer in immediately available funds to such Holder’s account
within the United States, which application shall remain in effect until the Holder notifies, in
writing, the Security Registrar to the contrary.

     Unless otherwise provided as contemplated by Section 3.01 with respect to the Securities of
any series, payment of interest may be made, in the case of a Bearer Security and at the Company’s
option, by transfer to an account maintained by the payee with a bank located outside the United
States.

     Unless otherwise provided as contemplated by Section 3.01, every permanent global Security
will provide that interest, if any, payable on any Interest Payment Date will be paid to DTC,
Euroclear and/or Clearstream, as the case may be, with respect to that portion of such permanent
global Security held for its account by Cede & Co. or the Common Depositary, as the case may be,
for the purpose of permitting such party to credit the interest received by it in respect of such
permanent global Security to the accounts of the beneficial owners thereof.

     In case a Bearer Security of any series is surrendered in exchange for a Registered Security
of such series after the close of business (at an office or agency in a Place of Payment for such
series) on any Regular Record Date and before the opening of business (at such office or agency) on
the next succeeding Interest Payment Date, such Bearer Security shall be surrendered without the
coupon relating to such Interest Payment Date and interest will not be payable on such Interest
Payment Date in respect of the Registered Security issued in exchange for such Bearer Security, but
will be payable only to the Holder of such coupon when due in accordance with the provisions of
this Indenture.

     Except as otherwise specified with respect to a series of Securities in accordance with the

32

 

provisions of Section 3.01, any interest on any Registered Security of any series that is
payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein
called “Defaulted Interest”) shall forthwith cease to be payable to the Holder thereof on the
relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may
be paid by the Company, at its election in each case, as provided in clause (1) or (2) below:

     (1) The Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Registered Securities of such series (or their respective Predecessor
Securities) are registered at the close of business on a Special Record Date for the payment
of such Defaulted Interest, which shall be fixed in the following manner. The Company shall
notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on
each Registered Security of such series and the date of the proposed payment (which shall
not be less than 20 days after such notice is received by the Trustee), and at the same time
the Company shall deposit with the Trustee an amount of money in the currency or currencies
in which the Securities of such series are payable (except as otherwise specified pursuant
to Section 3.01 for the Securities of such series) equal to the aggregate amount proposed to
be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the
Trustee for such deposit on or prior to the date of the proposed payment, such money when
deposited to be held in trust for the benefit of the Persons entitled to such Defaulted
Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date
for the payment of such Defaulted Interest which shall be not more than 15 days and not less
than 10 days prior to the date of the proposed payment and not less than 10 days after the
receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly
notify the Company of such Special Record Date and, in the name and at the expense of the
Company, shall cause notice of the proposed payment of such Defaulted Interest and the
Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of
Registered Securities of such series at his address as it appears in the Security Register
not less than 10 days prior to such Special Record Date. The Trustee may, in its discretion,
in the name and at the expense of the Company, cause a similar notice to be published at
least once in an Authorized Newspaper in each Place of Payment, but such publications shall
not be a condition precedent to the establishment of such Special Record Date. Notice of the
proposed payment of such Defaulted Interest and the Special Record Date therefor having been
mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names the
Registered Securities of such series (or their respective Predecessor Securities) are
registered at the close of business on such Special Record Date and shall no longer be
payable pursuant to the following clause (2). In case a Bearer Security of any series is
surrendered at the office or agency in a Place of Payment for such series in exchange for a
Registered Security of such series after the close of business at such office or agency on
any Special Record Date and before the opening of business at such office or agency on the
related proposed date for payment of Defaulted Interest, such Bearer Security shall be
surrendered without the coupon relating to such proposed date of payment and Defaulted
Interest will not be payable on such proposed date of payment in respect of the Registered
Security issued in exchange for such Bearer Security, but will be payable only to the Holder
of such coupon when due in accordance with the provisions of this Indenture.

     (2) The Company may make payment of any Defaulted Interest on the Registered Securities
of any series in any other lawful manner not inconsistent with the requirements of any
securities exchange on which such Securities may be listed, and upon

33

 

such notice as may be required by such exchange, if, after notice given by the Company
to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall
be deemed practicable by the Trustee.

     Subject to the foregoing provisions of this Section and Section 3.05, each Security delivered
under this Indenture upon registration of transfer of or in exchange for or in lieu of any other
Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried
by such other Security.

SECTION 3.08 PERSONS DEEMED OWNERS.

     Prior to due presentment of a Registered Security for registration of transfer, the Company,
any Guarantor, the Trustee and any agent of the Company, any Guarantor or the Trustee may treat the
Person in whose name such Registered Security is registered as the owner of such Security for the
purpose of receiving payment of principal of (and premium, if any), and (subject to Sections 3.05
and 3.07) interest on, such Registered Security and for all other purposes whatsoever, whether or
not such Registered Security be overdue, and neither the Company, any Guarantor, the Trustee nor
any agent of the Company, any Guarantor or the Trustee shall be affected by notice to the contrary.

     Title to any Bearer Security and any coupons appertaining thereto shall pass by delivery. The
Company, any Guarantor, the Trustee and any agent of the Company, any Guarantor or the Trustee may
treat the Holder of any Bearer Security and the Holder of any coupon as the absolute owner of such
Security or coupon for the purpose of receiving payment thereof or on account thereof and for all
other purposes whatsoever, whether or not such Security or coupon be overdue, and neither the
Company, any Guarantor, the Trustee nor any agent of the Company, any Guarantor or the Trustee
shall be affected by notice to the contrary.

     None of the Company, any Guarantor, the Trustee, any Paying Agent or the Security Registrar
will have any responsibility or liability for any aspect of the records relating to or payments
made on account of beneficial ownership interests of a Security in global form or for maintaining,
supervising or reviewing any records relating to such beneficial ownership interests.

     Notwithstanding the foregoing, with respect to any global Security, nothing herein shall
prevent the Company, any Guarantor, the Trustee, or any agent of the Company, any Guarantor or the
Trustee, from giving effect to any written certification, proxy or other authorization furnished by
any depositary, as a Holder, with respect to such global Security or impair, as between such
depositary and owners of beneficial interests in such global Security, the operation of customary
practices governing the exercise of the rights of such depositary (or its nominee) as Holder of
such global Security.

SECTION 3.09 CANCELLATION.

     All Securities and coupons surrendered for payment, redemption, repayment at the option of the
Holder, registration of transfer or exchange or for credit against any sinking fund payment shall,
if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any such
Securities and coupons and Securities and coupons surrendered directly to the Trustee for any such
purpose shall be promptly canceled by it. The Company may at any time deliver to the Trustee for
cancellation any Securities previously authenticated and delivered hereunder which the Company may
have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other

34

 

Person for delivery to the Trustee) for cancellation any Securities previously authenticated
hereunder which the Company has not issued and sold, and all Securities so delivered shall be
promptly canceled by the Trustee. If the Company shall so acquire any of the Securities, however,
such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented
by such Securities unless and until the same are surrendered to the Trustee for cancellation. No
Securities shall be authenticated in lieu of or in exchange for any Securities canceled as provided
in this Section, except as expressly permitted by this Indenture. Canceled Securities and coupons
held by the Trustee shall be destroyed by the Trustee and the Trustee shall deliver a certificate
of such destruction to the Company, unless by a Company Order the Company directs their return to
it.

SECTION 3.10 COMPUTATION OF INTEREST.

     Except as otherwise specified as contemplated by Section 3.01 with respect to Securities of
any series, interest on the Securities of each series shall be computed on the basis of a 360-day
year consisting of twelve 30-day months.

ARTICLE IV.

SATISFACTION AND DISCHARGE

SECTION 4.01 SATISFACTION AND DISCHARGE OF INDENTURE.

     This Indenture shall upon Company Request cease to be of further effect with respect to any
series of Securities specified in such Company Request (except as to any surviving rights of
registration of transfer or exchange of Securities of such series herein expressly provided for,
any right to receive Additional Amounts, as provided in Section 10.11, and any right to convert or
exchange Securities in accordance with their terms), and the Trustee, upon receipt of a Company
Order, and at the expense of the Company, shall execute proper instruments acknowledging
satisfaction and discharge of this Indenture as to such series when

     (1) either

     (A) all Securities of such series theretofore authenticated and delivered and all coupons, if
any, appertaining thereto (other than (i) coupons appertaining to Bearer Securities surrendered for
exchange for Registered Securities and maturing after such exchange, whose surrender is not
required or has been waived as provided in Section 3.05, (ii) Securities and coupons of such series
which have been mutilated, destroyed, lost or stolen and which have been replaced or paid as
provided in Section 3.06, (iii) coupons appertaining to Securities called for redemption and
maturing after the relevant Redemption Date, whose surrender has been waived as provided in Section
11.06, and (iv) Securities and coupons of such series for whose payment money has theretofore been
deposited in trust or segregated and held in trust by the Company and thereafter repaid to the
Company or discharged from such trust, as provided in Section 10.03) have been delivered to the
Trustee for cancellation; or

     (B) all Securities of such series and, in the case of (i) or (ii) below, any coupons
appertaining thereto not theretofore delivered to the Trustee for cancellation

     (i) have become due and payable, or

     (ii) will become due and payable at their Stated Maturity within one year, or

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     (iii) if redeemable at the option of the Company, are to be called for redemption
within one year under arrangements satisfactory to the Trustee for the giving of notice of
redemption by the Trustee in the name, and at the expense, of the Company, and the Company,
in the case of (i), (ii) or (iii) above, has irrevocably deposited or caused to be deposited
with the Trustee as trust funds in trust for the purpose an amount in the currency or
currencies in which the Securities of such series are payable, sufficient to pay and
discharge the entire indebtedness on such Securities and such coupons not theretofore
delivered to the Trustee for cancellation, for principal (and premium, if any) and interest,
and any Additional Amounts with respect thereto, to the date of such deposit (in the case of
Securities which have become due and payable) or to the Stated Maturity or Redemption Date,
as the case may be;

     (1) the Company has paid or caused to be paid all other sums payable hereunder by the
Company; and

     (2) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent herein provided for relating to the
satisfaction and discharge of this Indenture as to such series have been complied with.

     Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the
Company to the Trustee and any predecessor Trustee under Section 6.06, the obligations of the
Company to any Authenticating Agent under Section 6.11 and, if money shall have been deposited with
and held by the Trustee pursuant to subclause (B) of clause (1) of this Section, the obligations of
the Trustee under Section 4.02 and the last paragraph of Section 10.03 shall survive.

SECTION 4.02 APPLICATION OF TRUST FUNDS.

     Subject to the provisions of the last paragraph of Section 10.03, all money deposited with the
Trustee pursuant to Section 4.01 shall be held in trust and applied by it, in accordance with the
provisions of the Securities, the coupons and this Indenture, to the payment, either directly or
through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may
determine, to the Persons entitled thereto, of the principal (and premium, if any), and any
interest and Additional Amounts for whose payment such money has been deposited with or received by
the Trustee, but such money need not be segregated from other funds except to the extent required
by law.

ARTICLE V.

REMEDIES

SECTION 5.01 EVENTS OF DEFAULT.

     “Event of Default,” wherever used herein with respect to any particular series of Securities,
means any one of the following events with respect to such series of Securities (whatever the
reason for such Event of Default and whether or not it shall be voluntary or involuntary or be
effected by operation of law or pursuant to any judgment, decree or order of any court or any
order, rule or regulation of any administrative or governmental body), it being understood that an
Event of Default with respect to a particular series of Securities does not automatically
constitute an Event of Default with respect to any other series of Securities:

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     (1) default in any payment of interest on or any Additional Amounts payable in respect
of any Security when due and payable, which default continues for a period of 30 days; or

     (2) default in the payment of the principal amount of (or premium, if any, on) any
Security when due and payable at its Stated Maturity, upon required repurchase, upon
declaration or otherwise; or

     (3) failure by the Company to comply with its obligations in Article Eight; or

     (4) default in the observance or performance of any covenant of the Company in this
Indenture, which default continues for a period of 90 days after there has been given, by
registered or certified mail, to the Company by the Trustee or to the Company and the
Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities a
written notice, in each case received by the Company (and the Trustee, if applicable),
specifying such default and requiring such default to be remedied and stating that such
notice is a “Notice of Default” hereunder; or

     (5) the Company, any Significant Subsidiary or a Guarantor pursuant to or within the
meaning of any Bankruptcy Law:

     (A) commences a voluntary case or files a petition, answer or consent seeking reorganization
or relief,

     (B) consents to the entry of a decree or an order for relief against it in an involuntary case
or to the commencement of any such case against it,

     (C) consents to the appointment of or taking possession by a Custodian of it or for all or
substantially all of its property, or

     (D) makes a general assignment for the benefit of its creditors; or

     (6) a court of competent jurisdiction enters an order or decree under any Bankruptcy
Law that:

     (A) is for relief against the Company, any Significant Subsidiary or a Guarantor in an
involuntary case,

     (B) adjudges the Company, any Significant Subsidiary or a Guarantor to be insolvent or
approves a petition seeking reorganization, arrangement, adjustment or composition of any of the
foregoing,

     (C) appoints a Custodian of the Company, any Significant Subsidiary or a Guarantor, or for all
or substantially all of its property, or

     (D) orders the winding up or liquidation of the Company, any Significant Subsidiary or a
Guarantor,

     and the order or decree remains unstayed and in effect for 60 consecutive days, or

37

 

          (7) any other Event of Default provided with respect to Securities of that
series.

     As used in this Section 5.01, the term “Bankruptcy Law” means title 11, U.S. Code or any
similar Federal or State law for the relief of debtors and the term “Custodian” means any receiver,
trustee, assignee, liquidator or other similar official under any Bankruptcy Law.

     SECTION 5.02 ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT.

     If an Event of Default with respect to Securities of any series at the time Outstanding other
than an Event of Default specified in clause (5) or (6) of Section 5.01 occurs and is continuing,
then and in every such case the Trustee or the Holders of not less than 25% in principal amount of
the Outstanding Securities of that series may declare the principal (or, if any Securities are
Original Issue Discount Securities or Indexed Securities, such portion of the principal as may be
specified in the terms thereof) of all the Securities of that series to be due and payable
immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders),
and upon any such declaration such principal or specified portion thereof shall become immediately
due and payable.

     If an Event of Default specified in clause (5) or (6) of Section 5.01 occurs, all unpaid
principal of and accrued interest on the Outstanding Securities of that series (or such lesser
amount as may be provided for in the Securities of such series) shall ipso facto become and be
immediately due and payable without any declaration or other act on the part of the Trustee or any
Holder of any Security of that series.

     At any time after such a declaration of acceleration with respect to Securities of any series
has been made and before a judgment or decree for payment of the money due has been obtained by the
Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of
the Outstanding Securities of that series, by written notice to the Company and the Trustee, may
rescind and annul such declaration and its consequences if:

     (1) the Company has paid or deposited with the Trustee a sum sufficient to pay in the
currency or currencies in which the Securities of such series are payable (except as
otherwise specified pursuant to Section 3.01 for the Securities of such series):

     (A) all overdue installments of interest on and any Additional Amounts payable in respect of
all Outstanding Securities of that series and any related coupons,

     (B) the principal of (and premium, if any, on) any Outstanding Securities of that series which
have become due otherwise than by such declaration of acceleration and interest thereon at the rate
or rates borne by or provided for in such Securities,

     (C) to the extent that payment of such interest is lawful, interest upon overdue installments
of interest and any Additional Amounts at the rate or rates borne by or provided for in such
Securities, and

     (D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel; and

     (2) all Events of Default with respect to Securities of that series, other than the
nonpayment of the principal of (or premium, if any) or interest on Securities of that series

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which have become due solely by such declaration of acceleration, have been cured or
waived as provided in Section 5.13.

     No such rescission shall affect any subsequent default or impair any right consequent thereon.

     SECTION 5.03 COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY TRUSTEE.

     The Company covenants that if:

     (1) default is made in the payment of any installment of interest or Additional
Amounts, if any, on any Security of any series and any related coupon when such interest or
Additional Amount becomes due and payable and such default continues for a period of 30
days, or

     (2) default is made in the payment of the principal of (or premium, if any, on) any
Security of any series at its Maturity,

     then the Company will, upon demand by the Trustee, pay to the Trustee, for the benefit of the
Holders of such Securities of such series and coupons, the whole amount then due and payable on
such Securities and coupons for principal (and premium, if any) and interest and Additional Amount,
with interest upon any overdue principal (and premium, if any) and, to the extent that payment of
such interest shall be legally enforceable, upon any overdue installments of interest or Additional
Amounts, if any, at the rate or rates borne by or provided for in such Securities, and, in addition
thereto, such further amount as shall be sufficient to cover the costs and expenses of collection,
including the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel.

     If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own
name and as trustee of an express trust, may institute a judicial proceeding for the collection of
the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may
enforce the same against the Company or any other obligor upon such Securities of such series and
collect the moneys adjudged or decreed to be payable in the manner provided by law out of the
property of the Company or any other obligor upon such Securities of such series, wherever
situated.

     If an Event of Default with respect to Securities of any series occurs and is continuing, the
Trustee may in its discretion proceed to protect and enforce its rights and the rights of the
Holders of Securities of such series and any related coupons by such appropriate judicial
proceedings as the Trustee shall deem most effectual to protect and enforce any such rights,
whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of
the exercise of any power granted herein, or to enforce any other proper remedy.

     SECTION 5.04 TRUSTEE MAY FILE PROOFS OF CLAIM.

     In case of the pendency of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the
Company, a Guarantor or any other obligor upon the Securities or the property of the Company, a
Guarantor or such other obligor or their creditors, the Trustee (irrespective of whether the
principal of

39

 

the Securities of any series shall then be due and payable as therein expressed or by
declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the
Company, Guarantor or obligor for the payment of overdue principal, premium, if any, or interest)
shall be entitled and empowered, by intervention in such proceeding or otherwise:

     (i) to file and prove a claim for the whole amount, or such lesser amount as may be
provided for in the Securities of such series, of principal (and premium, if any) and
interest and Additional Amounts, if any, owing and unpaid in respect of the Securities and
to file such other papers or documents as may be necessary or advisable in order to have the
claims of the Trustee (including any claim for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel) and of the Holders
allowed in such judicial proceeding, and

     (ii) to collect and receive any moneys 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 Holder of Securities of such
series and coupons to make such payments to the Trustee, and in the event that the Trustee shall
consent to the making of such payments directly to the Holders, to pay to the Trustee any amount
due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee and
any predecessor Trustee, their agents and counsel, and any other amounts due the Trustee or any
predecessor Trustee under Section 6.06.

     Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to
or accept or adopt on behalf of any Holder of a Security or coupon any plan of reorganization,
arrangement, adjustment or composition affecting the Securities or coupons or the rights of any
Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder of a
Security or coupon in any such proceeding.

     SECTION 5.05 TRUSTEE MAY ENFORCE CLAIMS WITHOUT POSSESSION OF SECURITIES OR COUPONS.

     All rights of action and claims under this Indenture or any of the Securities or coupons may
be prosecuted and enforced by the Trustee without the possession of any of the Securities or
coupons or the production thereof in any proceeding relating thereto, and any such proceeding
instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any
recovery of judgment shall, after provision for the payment of the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable
benefit of the Holders of the Securities and coupons in respect of which such judgment has been
recovered.

     SECTION 5.06 APPLICATION OF MONEY COLLECTED.

     Any money collected by the Trustee pursuant to this Article shall be applied in the following
order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on
account of principal (or premium, if any) or interest and any Additional Amounts, upon presentation
of the Securities or coupons, or both, as the case may be, and the notation thereon of the payment
if only partially paid and upon surrender thereof if fully paid:

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     FIRST: To the payment of all amounts due the Trustee and any predecessor Trustee under Section
6.06;

     SECOND: To the payment of the amounts then due and unpaid upon the Securities and coupons for
principal (and premium, if any) and interest and any Additional Amounts payable, in respect of
which or for the benefit of which such money has been collected, ratably, without preference or
priority of any kind, according to the aggregate amounts due and payable on such Securities and
coupons for principal (and premium, if any), interest and Additional Amounts, respectively; and

     THIRD: To the payment of the remainder, if any, to the Company.

     SECTION 5.07 LIMITATION ON SUITS.

     No Holder of any Security of any series or any related coupon shall have any right to
institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the
appointment of a receiver or trustee, or for any other remedy hereunder, unless:

     (1) such Holder has previously given written notice to the Trustee of a continuing
Event of Default with respect to the Securities of that series;

     (2) the Holders of not less than 25% in principal amount of the Outstanding Securities
of that series shall have made written request to the Trustee to institute proceedings in
respect of such Event of Default in its own name as Trustee hereunder;

     (3) such Holder or Holders have offered to the Trustee indemnity reasonably
satisfactory to the Trustee against the costs, expenses and liabilities to be incurred in
compliance with such request;

     (4) the Trustee for 60 days after its receipt of such notice, request and offer of
indemnity has failed to institute any such proceeding; and

     (5) no direction inconsistent with such written request has been given to the Trustee
during such 60-day period by the Holders of a majority in principal amount of the
Outstanding Securities of that series;

     it being understood and intended that no one or more of such Holders shall have any right in
any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect,
disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain
priority or preference over any other of such Holders or to enforce any right under this Indenture,
except in the manner herein provided and for the equal and ratable benefit of all such Holders.

     SECTION 5.08 UNCONDITIONAL RIGHT OF HOLDERS TO RECEIVE PRINCIPAL, PREMIUM, IF ANY, INTEREST
AND ADDITIONAL AMOUNTS.

     Notwithstanding any other provision in this Indenture, the Holder of any Security or coupon
shall have the right which is absolute and unconditional to receive payment of the principal of
(and premium, if any) and (subject to Sections 3.05 and 3.07) interest on, and any Additional
Amounts in respect of, such Security or payment of such coupon on the respective due dates
expressed in such Security or coupon (or, in the case of redemption or repayment, on the Redemption
Date or the

41

 

Repayment Date) and to institute suit for the enforcement of any such payment or for the
enforcement of any applicable conversion right in the Securities, and such rights shall not be
impaired without the consent of such Holder.

     SECTION 5.09 RESTORATION OF RIGHTS AND REMEDIES.

     If the Trustee or any Holder of a Security or coupon has instituted any proceeding to enforce
any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for
any reason, or has been determined adversely to the Trustee or to such Holder, then and in every
such case, the Company, any Guarantor, the Trustee and the Holders of Securities and coupons shall,
subject to any determination in such proceeding, be restored severally and respectively to their
former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders
shall continue as though no such proceeding had been instituted.

     SECTION 5.10 RIGHTS AND REMEDIES CUMULATIVE.

     Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities or coupons in the last paragraph of Section 3.06, no right or
remedy herein conferred upon or reserved to the Trustee or to the Holders of Securities or coupons
is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the
extent permitted by law, be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or
employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy.

     SECTION 5.11 DELAY OR OMISSION NOT WAIVER.

     No delay or omission of the Trustee or of any Holder of any Security or coupon to exercise any
right or remedy accruing upon any Event of Default shall impair any such right or remedy or
constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy
given by this Article or by law to the Trustee or to the Holders may be exercised from time to
time, and as often as may be deemed expedient, by the Trustee or by the Holders of Securities or
coupons, as the case may be.

     SECTION 5.12 CONTROL BY HOLDERS OF SECURITIES.

     The Holders of not less than a majority in principal amount of the Outstanding Securities of
any series shall have the right to direct the time, method and place of conducting any proceeding
for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee
with respect to the Securities of such series, provided that

     (1) such direction shall not be in conflict with any rule of law or with this
Indenture,

     (2) the Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction, and

     (3) the Trustee need not take any action which might involve it in personal liability
or be unduly prejudicial to the Holders of Securities of such series not joining therein.

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     SECTION 5.13 WAIVER OF PAST DEFAULTS.

     The Holders of not less than a majority in principal amount of the Outstanding Securities of
any series may on behalf of the Holders of all the Securities of such series and any related
coupons waive any past default hereunder with respect to such series and its consequences, except a
default

     (1) in the payment of the principal of (or premium, if any) or interest on or
Additional Amounts payable in respect of any Security of such series or any related coupons,

     (2) in the conversion or exchange of the Securities in accordance with their terms, or

     (3) in respect of a covenant or provision hereof which under Article Nine may not be
modified or amended without the consent of the Holder of each Outstanding Security of such
series affected.

     Upon any such waiver, such default shall cease to exist, and any Event of Default arising
therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such
waiver shall extend to any subsequent or other default or Event of Default or impair any right
consequent thereon.

     SECTION 5.14 WAIVER OF USURY, STAY OR EXTENSION LAWS.

     Each of the Company and each Guarantor covenants (to the extent that it may lawfully do so)
that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the
benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time
hereafter in force, which may affect the covenants or the performance of this Indenture; and each
of the Company and each Guarantor hereby expressly waives (to the extent that it may lawfully do
so) all benefit or advantage of any such law, and covenants that it will not hinder, delay or
impede the execution of any power herein granted to the Trustee, but will suffer and permit the
execution of every such power as though no such law had been enacted.

     SECTION 5.15 UNDERTAKING FOR COSTS.

     All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof
shall be deemed to have agreed, that any court may in its discretion require, in any suit for the
enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any
action taken or omitted by it as Trustee, the filing by any party litigant in such suit of any
undertaking to pay the costs of such suit, and that such court may in its discretion assess
reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit
having due regard to the merits and good faith of the claims or defenses made by such party
litigant; but the provisions of this Section shall not apply to any suit instituted by the Trustee,
to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10%
in principal amount of the Outstanding Securities, or to any suit instituted by any Holder for the
enforcement of the payment of the principal of (or premium, if any) or interest on any Security on
or after the respective Stated Maturities expressed in such Security (or, in the case of redemption
or repayment, on or after the Redemption Date or the Repayment Date) or for the enforcement of any
applicable conversion right in the Securities.

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ARTICLE VI.

THE TRUSTEE

     SECTION 6.01 NOTICE OF DEFAULTS.

     Within 90 days after the occurrence of any default hereunder with respect to the Securities of
any series, the Trustee shall transmit, in the manner and to the extent provided in TIA Section
313(c), notice of such default hereunder known to the Trustee, unless such default shall have been
cured or waived; provided, however, that, except in the case of a default in the payment of the
principal of (or premium, if any) or interest on or any Additional Amounts with respect to any
Security of such series, or in the payment of any sinking fund installment with respect to the
Securities of such series, the Trustee shall be protected in withholding such notice if and so long
as Responsible Officers of the Trustee in good faith determine that the withholding of such notice
is in the interests of the Holders of the Securities and coupons of such series; and provided
further that in the case of any default or breach of the character specified in Section 5.01(4)
with respect to the Securities and coupons of such series, no such notice to Holders shall be given
until at least 90 days after the occurrence thereof. For the purpose of this Section, the term
“default” means any event which is, or after notice or lapse of time or both would become, an Event
of Default with respect to the Securities of such series.

     SECTION 6.02 CERTAIN RIGHTS OF TRUSTEE.

     Subject to the provisions of TIA Section 315(a) through 315(d):

     (1) the Trustee may rely and shall be protected in acting or refraining from acting
upon any resolution, certificate, statement, instrument, opinion, report, notice, request,
direction, consent, order, bond, debenture, note, coupon or other paper or document believed
by it to be genuine and to have been signed or presented by the proper party or parties;

     (2) any request or direction of the Company mentioned herein shall be sufficiently
evidenced by a Company Request or Company Order (other than delivery of any Security,
together with any coupons appertaining thereto, to the Trustee for authentication and
delivery pursuant to Section 3.03 which shall be sufficiently evidenced as provided therein)
and any resolution of the Board of Directors may be sufficiently evidenced by a Board
Resolution;

     (3) whenever in the administration of this Indenture the Trustee shall deem it
desirable that a matter be proved or established prior to taking, suffering or omitting any
action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may,
in the absence of bad faith on its part, rely upon an Officers’ Certificate;

     (4) the Trustee may consult with counsel and the advice of such counsel or any Opinion
of Counsel shall be full and complete authorization and protection in respect of any action
taken, suffered or omitted by it hereunder in good faith and in reliance thereon;

     (5) the Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request or direction of any of the Holders of

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Securities of any series or any related coupons pursuant to this Indenture, unless such
Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to
the Trustee against the costs, expenses and liabilities which might be incurred by it in
compliance with such request or direction;

     (6) the Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, debenture, note, coupon or other paper or
document, but the Trustee, in its discretion, may make such further inquiry or investigation
into such facts or matters as it may see fit, and, if the Trustee shall determine to make
such further inquiry or investigation, it shall be entitled to examine the books, records
and premises of the Company, personally or by agent or attorney;

     (7) the Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents or attorneys and the Trustee shall not be
responsible for any misconduct or negligence on the part of any agent or attorney appointed
with due care by it hereunder;

     (8) the Trustee shall have no liability for the actions or omissions of any Paying
Agent so long as the Trustee has acted in good faith and with due care with respect to a
matter;

     (9) the Trustee shall not be liable for any action taken, suffered or omitted by it in
good faith and reasonably believed by it to be authorized or within the discretion or rights
or powers conferred upon it by this Indenture;

     (10) subject to clause (11) below, the Trustee shall not be charged with notice or
knowledge of any matter except to the extent reasonably known to a Responsible Officer of
the Trustee or set forth in a written notice received at the Corporate Trust Office and
making express reference to the Indenture, the Company or the Securities; and

     (11) unless and except to the extent otherwise expressly provided herein, the Trustee
shall be under no duty to review or evaluate the contents of any reports or other documents
filed with it pursuant to Section 7.03 or Section 10.09 hereof, except to make them
available for inspection at reasonable times by Holders of Securities.

     The Trustee shall not be required to expend or risk its own funds or otherwise incur any
financial liability in the performance of any of its duties hereunder, or in the exercise of any of
its rights or powers, if it shall have reasonable grounds for believing that repayment of such
funds or adequate indemnity against such risk or liability is not reasonably assured to it.

     Except during the continuance of an Event of Default, the Trustee undertakes to perform only
such duties as are specifically set forth in this Indenture, and no implied covenants or
obligations shall be read into this Indenture against the Trustee.

     SECTION 6.03 NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF SECURITIES.

     The recitals contained herein and in the Securities, except the Trustee’s certificate of
authentication, and in any coupons shall be taken as the statements of the Company, and neither

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the Trustee nor any Authenticating Agent assumes any responsibility for their correctness. The
Trustee makes no representations as to the validity or sufficiency of this Indenture or of the
Securities or coupons, except that the Trustee represents that it is duly authorized to execute and
deliver this Indenture, authenticate the Securities and perform its obligations hereunder and that
the statements made by it in any Statement of Eligibility on Form T-1 supplied to the Company are
true and accurate. Neither the Trustee nor any Authenticating Agent shall be accountable for the
use or application by the Company of Securities or the proceeds thereof.

     SECTION 6.04 MAY HOLD SECURITIES.

     The Trustee, any Paying Agent, Security Registrar, Authenticating Agent or any other agent of
the Company, in its individual or any other capacity, may become the owner or pledgee of Securities
and coupons and, subject to TIA Sections 310(b) and 311, may otherwise deal with the Company with
the same rights it would have if it were not Trustee, Paying Agent, Security Registrar,
Authenticating Agent or such other agent.

     SECTION 6.05 MONEY HELD IN TRUST.

     Money held by the Trustee in trust hereunder need not be segregated from other funds except to
the extent required by law. The Trustee shall be under no liability for interest on any money
received by it hereunder except as otherwise agreed in writing with the Company.

     SECTION 6.06 COMPENSATION AND REIMBURSEMENT.

     The Company agrees:

     (1) to pay to the Trustee from time to time reasonable compensation for all services
rendered by it hereunder (which compensation shall not be limited by any provision of law in
regard to the compensation of a trustee of an express trust);

     (2) except as otherwise expressly provided herein, to reimburse each of the Trustee and
any predecessor Trustee upon its request for all reasonable expenses, disbursements and
advances incurred or made by the Trustee in accordance with any provision of this Indenture
(including the reasonable compensation and the expenses and disbursements of its agents and
counsel), except any such expense, disbursement or advance as may be attributable to its
negligence or bad faith; and

     (3) to indemnify each of the Trustee and any predecessor Trustee for, and to hold it
harmless against, any loss, liability or expense incurred without negligence or bad faith on
its own part, arising out of or in connection with the acceptance or administration of the
trust or trusts hereunder, including the costs and expenses (including without limitation
reasonable attorneys’ fees and costs) of defending itself against any claim or liability in
connection with the exercise or performance of any of its powers or duties hereunder.

     When the Trustee incurs expenses or renders services in connection with an Event of Default
specified in Section 5.01(5) or Section 5.01(6), the expenses (including the reasonable charges and
expenses of its counsel) and the compensation for the services are intended to constitute expenses
of administration under any applicable Federal or state bankruptcy, insolvency or other similar
law.

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     As security for the performance of the obligations of the Company under this Section, the
Trustee shall have a lien prior to the Securities upon all property and funds held or collected by
the Trustee as such, except funds held in trust for the payment of principal of (or premium, if
any) or interest on particular Securities or any coupons.

     The provisions of this Section shall survive the termination of this Indenture (and shall
survive the resignation or removal of the Trustee pursuant to Section 6.08).

     SECTION 6.07 ELIGIBILITY OF TRUSTEE; CONFLICTING INTERESTS.

     There shall at all times be a Trustee hereunder which shall be eligible to act as Trustee
under TIA Section 310(a)(1) and shall have a combined capital and surplus of at least $50,000,000.
If such Trustee publishes reports of condition at least annually, pursuant to law or the
requirements of Federal, State, Territorial or District of Columbia supervising or examining
authority, then for the purposes of this Section, the combined capital and surplus of such Trustee
shall be deemed to be its combined capital and surplus as set forth in its most recent report of
condition so published. If at any time the Trustee shall cease to be eligible in accordance with
the provisions of this Section, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article.

     SECTION 6.08 RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR.

     (a) No resignation or removal of the Trustee and no appointment of a successor Trustee
pursuant to this Article shall become effective until the acceptance of appointment by the
successor Trustee in accordance with the applicable requirements of Section 6.09.

     (b) The Trustee may resign at any time with respect to the Securities of one or more
series by giving written notice thereof to the Company. If an instrument of acceptance by a
successor Trustee shall not have been delivered to the Trustee within 30 days after the
giving of such notice of resignation, the resigning Trustee may petition any court of
competent jurisdiction for the appointment of a successor Trustee.

     (c) The Trustee may be removed at any time with respect to the Securities of any series
by Act of the Holders of a majority in principal amount of the Outstanding Securities of
such series delivered to the Trustee and to the Company.

     (d) If at any time:

     (1) the Trustee shall fail to comply with the provisions of TIA Section 310(b) after
written request therefor by the Company or by any Holder of a Security who has been a bona
fide Holder of a Security for at least six months, or

     (2) the Trustee shall cease to be eligible under Section 6.07 and shall fail to resign
after written request therefor by the Company or by any Holder of a Security who has been a
bona fide Holder of a Security for at least six months, or

     (3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or
insolvent or a receiver of the Trustee or of its property shall be appointed or any public
officer shall take charge or control of the Trustee or of its property or affairs for the
purpose of rehabilitation, conservation or liquidation,

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     then, in any such case, (i) the Company by or pursuant to a Board Resolution may remove the
Trustee and appoint a successor Trustee with respect to all Securities, or (ii) subject to TIA
Section 315(e), any Holder of a Security who has been a bona fide Holder of a Security for at least
six months may, on behalf of himself and all others similarly situated, petition any court of
competent jurisdiction for the removal of the Trustee with respect to all Securities and the
appointment of a successor Trustee or Trustees.

     (e) If the Trustee shall resign, be removed or become incapable of acting, or if a
vacancy shall occur in the office of Trustee for any cause with respect to the Securities of
one or more series, the Company, by or pursuant to a Board Resolution, shall promptly
appoint a successor Trustee or Trustees with respect to the Securities of that or those
series (it being understood that any such successor Trustee may be appointed with respect to
the Securities of one or more or all of such series and that at any time there shall be only
one Trustee with respect to the Securities of any particular series). If, within one year
after such resignation, removal or incapability, or the occurrence of such vacancy, a
successor Trustee with respect to the Securities of any series shall be appointed by Act of
the Holders of a majority in principal amount of the Outstanding Securities of such series
delivered to the Company and the retiring Trustee, and to any successor Trustee appointed by
the Company with respect to such Securities, the successor Trustee so appointed by the
Holders shall, forthwith upon its acceptance of such appointment, become the successor
Trustee with respect to the Securities of such series and to that extent supersede the
successor Trustee appointed by the Company. If no successor Trustee with respect to the
Securities of any series shall have been so appointed by the Company or the Holders of
Securities and accepted appointment in the manner hereinafter provided, any Holder of a
Security who has been a bona fide Holder of a Security of such series for at least six
months may, on behalf of himself and all others similarly situated, petition any court of
competent jurisdiction for the appointment of a successor Trustee with respect to Securities
of such series.

     (f) The Company shall give notice of each resignation and each removal of the Trustee
with respect to the Securities of any series and each appointment of a successor Trustee
with respect to the Securities of any series in the manner provided for notices to the
Holders of Securities in Section 1.06. Each notice shall include the name of the successor
Trustee with respect to the Securities of such series and the address of its Corporate Trust
Office.

     SECTION 6.09 ACCEPTANCE OF APPOINTMENT BY SUCCESSOR.

     (a) In case of the appointment hereunder of a successor Trustee with respect to all
Securities, every such successor Trustee shall execute, acknowledge and deliver to the
Company and to the retiring Trustee an instrument accepting such appointment, and thereupon
the resignation or removal of the retiring Trustee shall become effective and such successor
Trustee, without any further act, deed or conveyance, shall become vested with all the
rights, powers, trusts and duties of the retiring Trustee; but, on request of the Company or
the successor Trustee, such retiring Trustee shall, upon payment of its charges and other
due but unpaid amounts owing to it hereunder, execute and deliver an instrument transferring
to such successor Trustee all the rights, powers and trusts of the retiring Trustee, and
shall duly assign, transfer and deliver to such successor Trustee all property and money
held by such retiring Trustee hereunder, subject nevertheless to its claim, if any, provided
for in Section 6.06.

     (b) In case of the appointment hereunder of a successor Trustee with respect to the
Securities of one or more (but not all) series, the Company, the retiring Trustee and each
successor Trustee with respect to the Securities of one or more series shall execute and

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deliver an indenture supplemental hereto, pursuant to Article Nine hereof, wherein each
successor Trustee shall accept such appointment and which (1) shall contain such provisions
as shall be necessary or desirable to transfer and confirm to, and to vest in, each
successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with
respect to the Securities of that or those series to which the appointment of such successor
Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities,
shall contain such provisions as shall be deemed necessary or desirable to confirm that all
the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities
of that or those series as to which the retiring Trustee is not retiring shall continue to
be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of
this Indenture as shall be necessary to provide for or facilitate the administration of the
trusts hereunder by more than one Trustee, it being understood that nothing herein or in
such supplemental indenture shall constitute such Trustees co-trustees of the same trust and
that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart
from any trust or trusts hereunder administered by any other such Trustee; and upon the
execution and delivery of such supplemental indenture the resignation or removal of the
retiring Trustee shall become effective to the extent provided therein and each such
successor Trustee, without any further act, deed or conveyance, shall become vested with all
the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities
of that or those series to which the appointment of such successor Trustee relates; but, on
request of the Company or any successor Trustee, such retiring Trustee shall duly assign,
transfer and deliver to such successor Trustee all property and money held by such retiring
Trustee hereunder with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates.

     (c) Upon request of any such successor Trustee, the Company shall execute any and all
instruments for more fully and certainly vesting in and confirming to such successor Trustee
all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as
the case may be.

     (d) No successor Trustee shall accept its appointment unless at the time of such
acceptance such successor Trustee shall be qualified and eligible under this Article.

     SECTION 6.10 MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS.

     Any entity into which the Trustee may be merged or converted or with which it may be
consolidated, or any entity resulting from any merger, conversion or consolidation to which the
Trustee shall be a party, or any entity succeeding to all or substantially all of the corporate
trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such
entity shall be otherwise qualified and eligible under this Article, without the execution or
filing of any paper or any further act on the part of any of the parties hereto. In case any
Securities or coupons shall have been authenticated, but not delivered, by the Trustee then in
office, any successor by merger, conversion or consolidation to such authenticating Trustee may
adopt such authentication and deliver the Securities or coupons so authenticated with the same
effect as if such successor Trustee had itself authenticated such Securities or coupons. In case
any Securities or coupons shall not have been authenticated by such predecessor Trustee, any such
successor Trustee may authenticate and deliver such Securities or coupons, in either its own name
or that of its predecessor Trustee, with the full force and effect which this Indenture provides
for the certificate of authentication of the Trustee.

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     SECTION 6.11 APPOINTMENT OF AUTHENTICATING AGENT.

     At any time when any of the Securities remain Outstanding, the Trustee may appoint an
Authenticating Agent or Agents with respect to one or more series of Securities which shall be
authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon
exchange, registration of transfer or partial redemption or repayment thereof, and Securities so
authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory
for all purposes as if authenticated by the Trustee hereunder. Any such appointment shall be
evidenced by an instrument in writing signed by a Responsible Officer of the Trustee, a copy of
which instrument shall be promptly furnished to the Company. Wherever reference is made in this
Indenture to the authentication and delivery of Securities by the Trustee or the Trustee’s
certificate of authentication, such reference shall be deemed to include authentication and
delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication
executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be
acceptable to the Company and shall at all times be a bank or trust company or corporation
organized and doing business and in good standing under the laws of the United States or of any
State or the District of Columbia, authorized under such laws to act as Authenticating Agent,
having a combined capital and surplus of not less than $50,000,000 and subject to supervision or
examination by Federal or State authorities. If such Authenticating Agent publishes reports of
condition at least annually, pursuant to law or the requirements of the aforesaid supervising or
examining authority, then for the purposes of this Section, the combined capital and surplus of
such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in
its most recent report of condition so published. In case at any time an Authenticating Agent shall
cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent
shall resign immediately in the manner and with the effect specified in this Section.

     Any entity into which an Authenticating Agent may be merged or converted or with which it may
be consolidated, or any entity resulting from any merger, conversion or consolidation to which such
Authenticating Agent shall be a party, or any entity succeeding to the corporate agency or
corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent,
provided such entity shall be otherwise eligible under this Section, without the execution or
filing of any paper or further act on the part of the Trustee or the Authenticating Agent.

     An Authenticating Agent for any series of Securities may at any time resign by giving written
notice of resignation to the Trustee for such series and to the Company. The Trustee for any series
of Securities may at any time terminate the agency of an Authenticating Agent by giving written
notice of termination to such Authenticating Agent and to the Company. Upon receiving such a notice
of resignation or upon such a termination, or in case at any time such Authenticating Agent shall
cease to be eligible in accordance with the provisions of this Section, the Trustee for such series
may appoint a successor Authenticating Agent which shall be acceptable to the Company and shall
give notice of such appointment to all Holders of Securities of the series with respect to which
such Authenticating Agent will serve in the manner set forth in Section 1.06. Any successor
Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the
rights, powers and duties of its predecessor hereunder, with like effect as if originally named as
an Authenticating Agent herein. No successor Authenticating Agent shall be appointed unless
eligible under the provisions of this Section.

     The Company agrees to pay to each Authenticating Agent from time to time reasonable
compensation, including reimbursement of its reasonable expenses for its services under this

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Section.

     If an appointment with respect to one or more series is made pursuant to this Section, the
Securities of such series may have endorsed thereon, in addition to or in lieu of the Trustee’s
certificate of authentication, an alternate certificate of authentication substantially in the
following form:

     This is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture.

	 	 	 	 	 
	 	[NAME OF TRUSTEE]

as Trustee

 	 
	 	By:  	 	 
	 	 	as Authenticating Agent 	 

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

ARTICLE VII.

HOLDERS’ LISTS AND REPORTS

	 	 	SECTION 7.01 DISCLOSURE OF NAMES AND ADDRESSES OF HOLDERS.

     Every Holder of Securities or coupons, by receiving and holding the same, agrees with the
Company and the Trustee that neither the Company nor the Trustee nor any Authenticating Agent nor
any Paying Agent nor any Security Registrar shall be held accountable by reason of the disclosure
of any information as to the names and addresses of the Holders of Securities in accordance with
TIA Section 312, regardless of the source from which such information was derived, and that the
Trustee shall not be held accountable by reason of mailing any material pursuant to a request made
under TIA Section 312(b).

     SECTION 7.02 REPORTS BY TRUSTEE.

     Within 60 days after June 30 of each year commencing with the first June 30 after the first
issuance of Securities pursuant to this Indenture, the Trustee shall transmit by mail to all
Holders of Securities as provided in TIA Section 313(c) a brief report dated as of such June 30 if
required by TIA Section 313(a).

     SECTION 7.03 COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF HOLDERS.

     The Company will furnish or cause to be furnished to the Trustee:

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     (a) semi-annually, with respect to each series of Securities, a list, in such form and
as of such date as the Trustee may reasonably require, of the names and addresses of the
Holders of Registered Securities of such series as of the applicable date, and

     (b) at such other times as the Trustee may request in writing, within 30 days after the
receipt by the Company of any such request, a list of similar form and content as of a date
not more than 15 days prior to the time such list is furnished, provided, however, that, so
long as the Trustee is the Security Registrar, no such list shall be required to be
furnished.

ARTICLE VIII.

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

     SECTION 8.01 COMPANY MAY CONSOLIDATE, ETC., ONLY ON CERTAIN TERMS.

     The Company shall not consolidate with or merge with or into, or convey, transfer or lease all
or substantially all of its properties and assets (as an entirety or substantially an entirety in
one transaction as a series of transactions) to, any Person, unless:

     (a) the resulting, surviving or transferee Person (the “Successor Company”), if not the
Company itself, is a Person organized and existing under the laws of the United States of
America, any state thereof or the District of Columbia, and the Successor Company (if not
the Company itself) expressly assumes, by a supplemental indenture, executed and delivered
to the Trustee, in form reasonably satisfactory to the Trustee, all of the obligations of
the Company under the Securities and this Indenture; and

     (b) immediately after giving effect to such transaction, no Event of Default shall have
occurred and be continuing.

     SECTION 8.02 SUCCESSOR SUBSTITUTED.

     Upon any consolidation of the Company with or merger of the Company with or into, or any
conveyance, transfer or lease by the Company of all or substantially all of its properties and
assets (as an entirety or substantially an entirety in one transaction or a series of transactions)
to, any Person in accordance with Section 8.01, the Successor Company formed by such consolidation
or into which the Company is merged or to which such conveyance, transfer or lease is made shall
succeed to, and be substituted for, and may exercise every right and power of, the Company under
this Indenture with the same effect as if such successor Person had been named as the Company
herein, and thereafter.

ARTICLE IX.

SUPPLEMENTAL INDENTURES

     SECTION 9.01 SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF HOLDERS.

     Without the consent of any Holders of Securities or coupons, the Company, when authorized by
or pursuant to a Board Resolution, any Guarantor and the Trustee, at any time and from time to

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time, may enter into one or more indentures supplemental hereto, in form satisfactory to the
Trustee, for any of the following purposes:

     (1) to cure any ambiguity, omission, defect or inconsistency contained in this
Indenture; or

     (2) to provide for the assumption by a successor corporation, partnership, trust or
limited liability company of the obligations of the Company contained in this Indenture; or

     (3) to provide for uncertificated Securities in addition to or in place of certificated
Securities; provided, however, that such uncertificated Securities are issued in registered
form for purposes of Section 163(f) of the Code, or in a manner such that the uncertificated
Securities are described in Section 163(f)(2)(B) of the Code; or

     (4) to add Guarantees with respect to the Securities; or

     (5) to secure the Securities; or

     (6) to add to the covenants of the Company for the benefit of the Holders, or to
surrender any right or power herein conferred upon the Company; or

     (7) to add or modify any other provision in this Indenture with respect to matters or
questions arising hereunder which the Company and the Trustee may deem necessary or
desirable and which does not materially and adversely affect the rights of any Holder; or

     (8) to modify, eliminate or add to the provisions of this Indenture to such extent as
shall be necessary to comply with any requirement of the Commission to effect the
qualification of this Indenture under the Trust Indenture Act, or under any similar Federal
statute hereafter enacted.

     SECTION 9.02 SUPPLEMENTAL INDENTURES WITH CONSENT OF HOLDERS.

     With the consent of the Holders of not less than a majority in principal amount of all
Outstanding Securities affected by such supplemental indenture, by Act of said Holders delivered to
the Company and the Trustee, the Company, when authorized by or pursuant to a Board Resolution, any
Guarantor of such Securities, and the Trustee, may enter into an indenture or indentures
supplemental hereto for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the
Holders of Securities and any related coupons under this Indenture; provided, however, that no such
supplemental indenture shall, without the consent of the Holder of each Outstanding Security
affected thereby:

     (1) reduce the amount of Securities whose Holders must consent to an amendment or
waiver; or

     (2) reduce the rate of or extend the stated time for payment of any interest on any
Security; or

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     (3) reduce the principal amount of, or extend the Stated Maturity of, any Security; or

     (4) make any change that adversely affects the conversion rights, if any, of any
Security; or

     (5) make any Security payable in money other than that stated in such Security; or

     (6) impair the right of a Holder to receive payment of principal (and premium, if any)
and interest on, or any Additional Amounts payable with respect to, such Holder’s Securities
on or after the due dates thereof or to institute a suit for the enforcement of any payment
on or with respect to such Holder’s Securities; or

     (7) modify any of the provisions of this Section 9.02 or Section 5.13, except to
increase the percentage of the principal amount of the Outstanding Securities affected
thereby required to consent to any supplemental indenture pursuant to Section 9.02 or to
effect any waiver pursuant to Section 5.13; or

     (8) to provide that certain other provisions of this Indenture may not be modified or
waived without the consent of the Holder of each Outstanding Security affected thereby.

     It shall not be necessary for any Act of Holders under this Section to approve the particular
form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve
the substance thereof.

     A supplemental indenture which changes or eliminates any covenant or other provision of this
Indenture which has expressly been included solely for the benefit of one or more particular series
of Securities, or which modifies the rights of the Holders of Securities of such series with
respect to such covenant or other provision, shall be deemed not to affect the rights under this
Indenture of the Holders of Securities of any other series.

     SECTION 9.03 EXECUTION OF SUPPLEMENTAL INDENTURES.

     In executing, or accepting the additional trusts created by, any supplemental indenture
permitted by this Article or the modification thereby of the trusts created by this Indenture, the
Trustee shall be entitled to receive, and shall be fully protected in relying upon, an Opinion of
Counsel stating that the execution of such supplemental indenture is authorized or permitted by
this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental
indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or
otherwise.

     SECTION 9.04 EFFECT OF SUPPLEMENTAL INDENTURES.

     Upon the execution of any supplemental indenture under this Article, this Indenture shall be
modified in accordance therewith, and such supplemental indenture shall form a part of this
Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated
and delivered hereunder and any coupon appertaining thereto shall be bound thereby.

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     SECTION 9.05 CONFORMITY WITH TRUST INDENTURE ACT.

     Every supplemental indenture executed pursuant to this Article shall conform to the
requirements of the TIA as then in effect.

     SECTION 9.06 REFERENCE IN SECURITIES TO SUPPLEMENTAL INDENTURES.

     Securities of any series authenticated and delivered after the execution of any supplemental
indenture pursuant to this Article may, and shall, if required by the Trustee, bear a notation in
form approved by the Trustee as to any matter provided for in such supplemental indenture. If the
Company shall so determine, new Securities of any series so modified as to conform, in the opinion
of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by
the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities
of such series.

ARTICLE X.

COVENANTS

     SECTION 10.01 PAYMENT OF PRINCIPAL, PREMIUM, IF ANY, INTEREST AND ADDITIONAL AMOUNTS.

     The Company covenants and agrees for the benefit of the Holders of each series of Securities
that it will duly and punctually pay the principal of (and premium, if any) and interest on and any
Additional Amounts payable in respect of the Securities of that series in accordance with the terms
of such series of Securities, any coupons appertaining thereto and this Indenture. Unless otherwise
specified as contemplated by Section 3.01 with respect to any series of Securities, any interest
due on and any Additional Amounts payable in respect of Bearer Securities on or before Maturity,
other than Additional Amounts, if any, payable as provided in Section 10.11 in respect of principal
of (or premium, if any, on) such a Security, shall be payable only upon presentation and surrender
of the several coupons for such interest installments as are evidenced thereby as they severally
mature. Unless otherwise specified with respect to Securities of any series pursuant to Section
3.01, at the option of the Company, all payments of principal may be paid by check to the Holder of
the Registered Security or other person entitled thereto against surrender of such Security.

     SECTION 10.02 MAINTENANCE OF OFFICE OR AGENCY.

     If Securities of a series are issuable only as Registered Securities, the Company shall
maintain in each Place of Payment for any series of Securities an office or agency where Securities
of that series may be presented or surrendered for payment or conversion, where Securities of that
series may be surrendered for registration of transfer or exchange and where notices and demands to
or upon the Company in respect of the Securities of that series and this Indenture may be served.
If Securities of a series are issuable as Bearer Securities, the Company will maintain: (A) in the
Borough of Manhattan, The City of New York, an office or agency where any Registered Securities of
that series may be presented or surrendered for payment or conversion, where any Registered
Securities of that series may be surrendered for registration of transfer, where Securities of that
series may be surrendered for exchange, where notices and demands to or upon the Company in respect
of the Securities of that series and this Indenture may be served and where Bearer Securities of
that series and related coupons may be presented or surrendered for payment or

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conversion in the circumstances described in the following paragraph (and not otherwise); (B)
subject to any laws or regulations applicable thereto in a Place of Payment for that series which
is located outside the United States, an office or agency where Securities of that series and
related coupons may be presented and surrendered for payment (including payment of any Additional
Amounts payable on Securities of that series pursuant to Section 10.11) or conversion; provided,
however, that if the Securities of that series are listed on the Luxembourg Stock Exchange or any
other stock exchange located outside the United States and such stock exchange shall so require,
the Company will maintain a Paying Agent for the Securities of that series in Luxembourg or any
other required city located outside the United States, as the case may be, so long as the
Securities of that series are listed on such exchange; and (C) if the Securities of such series are
or may also be issued in part as, or may be converted to, Registered Securities, subject to any
laws or regulations applicable thereto in a Place of Payment for that series located outside the
United States, an office or agency where any Registered Securities of that series may be
surrendered for registration of transfer, where Securities of that series may be surrendered for
exchange and where notices and demands to or upon the Company in respect of the Securities of that
series and this Indenture may be served. The Company will give prompt written notice to the Trustee
of the location, and any change in the location, of each such office or agency. If at any time the
Company shall fail to maintain any such required office or agency or shall fail to furnish the
Trustee with the address thereof, such presentations, surrenders, notices and demands may be made
or served at the Corporate Trust Office of the Trustee, except that Bearer Securities of that
series and the related coupons may be presented and surrendered for payment (including payment of
any Additional Amounts payable on Bearer Securities of that series pursuant to Section 10.11) or
conversion at the offices specified in the Security, in London, England, and the Company hereby
appoints the same as its agent to receive such respective presentations, surrenders, notices and
demands, and the Company hereby appoints the Trustee its agent to receive all such presentations,
surrenders, notices and demands. Nothing herein shall oblige the Trustee to maintain any such
office or agency on behalf of the Company in any such Place of Payment, other than the Corporate
Trust Office.

     Unless otherwise specified with respect to any Securities pursuant to Section 3.01, no payment
of principal, premium or interest on or Additional Amounts in respect of Bearer Securities shall be
made at any office or agency of the Company in the United States or by check mailed to any address
in the United States or by transfer to an account maintained with a bank located in the United
States; provided, however, that, if amounts owing with respect to any Bearer Securities of a series
are payable in Dollars, payment of principal of and any premium and interest on any Bearer Security
(including any Additional Amounts payable on Securities of such series pursuant to Section 10.11)
shall be made at the office of the Company’s Paying Agent in the Borough of Manhattan, The City of
New York, if (but only if) payment in Dollars of the full amount of such principal, premium,
interest or Additional Amounts, as the case may be, at all offices or agencies outside the United
States maintained for the purpose by the Company in accordance with this Indenture, is illegal or
effectively precluded by exchange controls or other similar restrictions.

     The Company may from time to time designate one or more other offices or agencies where the
Securities of one or more series may be presented or surrendered for any or all of such purposes,
and may from time to time rescind any such designation; provided, however, that no such designation
or rescission shall in any manner relieve the Company of its obligation to maintain an office or
agency in accordance with the requirements set forth above for Securities of any series for such
purposes. The Company will give prompt written notice to the Trustee of any such designation or
rescission and of any change in the location of any such other office or agency. Unless otherwise
specified with respect to any Securities pursuant to Section 3.01 with respect to a series of

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Securities, the Company hereby designates as a Place of Payment for each series of Securities
the office or agency of the Company in the Borough of Manhattan, The City of New York, and
initially appoints [Name of Trustee] at _____________, [New York, New York] as Paying Agent in such
city and as its agent to receive all such presentations, surrenders, notices and demands.

     Unless otherwise specified with respect to any Securities pursuant to Section 3.01, if and so
long as the Securities of any series (i) are denominated in a Foreign Currency or (ii) may be
payable in a Foreign Currency, or so long as it is required under any other provision of the
Indenture, then the Company will maintain with respect to each such series of Securities, or as so
required, at least one exchange rate agent.

     SECTION 10.03 MONEY FOR SECURITIES PAYMENTS TO BE HELD IN TRUST.

     If the Company shall at any time act as its own Paying Agent with respect to any series of any
Securities and any related coupons, it will, on or before each due date of the principal of (and
premium, if any), or interest on or Additional Amounts in respect of, any of the Securities of that
series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum in the
currency or currencies in which the Securities of such series are payable (except as otherwise
specified pursuant to Section 3.01 for the Securities of such series) sufficient to pay the
principal (and premium, if any) or interest or Additional Amounts so becoming due until such sums
shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify
the Trustee of its action or failure so to act.

     Whenever the Company shall have one or more Paying Agents for any series of Securities and any
related coupons, it will, on or before each due date of the principal of (and premium, if any), or
interest on or Additional Amounts in respect of, any Securities of that series, deposit with a
Paying Agent a sum (in the currency or currencies described in the preceding paragraph) sufficient
to pay the principal (and premium, if any) or interest or Additional Amounts, so becoming due, such
sum to be held in trust for the benefit of the Persons entitled to such principal, premium or
interest or Additional Amounts and (unless such Paying Agent is the Trustee) the Company will
promptly notify the Trustee of its action or failure so to act.

     The Company will cause each Paying Agent other than the Trustee to execute and deliver to the
Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the
provisions of this Section, that such Paying Agent will

     (1) hold all sums held by it for the payment of principal of (and premium, if any) or
interest on Securities for the benefit of the Persons entitled thereto until such sums shall
be paid to such Persons or otherwise disposed of as herein provided;

     (2) give the Trustee notice of any default by the Company or a Guarantor (or any other
obligor upon the Securities) in the making of any such payment of principal (and premium, if
any) or interest; and

     (3) at any time during the continuance of any such default upon the written request of
the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent.

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     The Company may at any time, for the purpose of obtaining the satisfaction and discharge of
this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay,
to the Trustee all sums held in trust by the Company or by such Paying Agent, such sums to be held
by the Trustee upon the same trusts as those upon which such sums were held by the Company or such
Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be
released from all further liability with respect to such sums.

     Except as otherwise provided in the Securities of any series (and subject to any abandoned
property laws that may be applicable), any money deposited with the Trustee in trust or with any
Paying Agent, or then held by the Company in trust, for the payment of the principal of (and
premium, if any) or interest on, or any Additional Amounts in respect of, any Security of any
series and remaining unclaimed for two years after such principal (and premium, if any), interest
or Additional Amounts has become due and payable shall be paid to the Company upon Company Request
or (if then held by the Company) shall be discharged from such trust; and the Holder of such
Security shall thereafter, as an unsecured general creditor, look only to the Company and any
Guarantor(s) for payment of such principal of (and premium, if any) or interest on, or any
Additional Amounts in respect of, any Security, without interest thereon, and all liability of the
Trustee or such Paying Agent with respect to such money, and all liability of the Company as
trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent,
before being required to make any such repayment, may at the expense of the Company cause to be
published once, in an Authorized Newspaper, notice that such money remains unclaimed and that,
after a date specified therein, which shall not be less than 30 days from the date of such
publication, any unclaimed balance of such money then remaining will be repaid to the Company.

     SECTION 10.04 [RESERVED].

     SECTION 10.05 EXISTENCE.

     Subject to Article Eight, the Company and each Guarantor will do or cause to be done all
things necessary to preserve and keep in full force and effect its corporate existence, rights
(charter and statutory) and franchises; provided, however, that the Company and each Guarantor
shall not be required to preserve any right or franchise if its Board of Directors shall determine
that the preservation thereof is no longer desirable in the conduct of business and that the loss
thereof is not disadvantageous in any material respect to the Holders.

     SECTION 10.06 MAINTENANCE OF PROPERTIES.

     The Company will, and will cause each of its Subsidiaries to, cause all of its material
properties used or useful in the conduct of its business or the business of any Subsidiary to be
maintained and kept in good condition, repair and working order and supplied with all necessary
equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and
improvements thereof, all as in the judgment of the Company may be necessary so that the business
carried on in connection therewith may be properly and advantageously conducted at all times;
provided, however, that nothing in this Section shall prevent the Company or any Subsidiary from
discontinuing the operation and maintenance of any such properties if such discontinuance is, in
the judgment of the Company or the Subsidiary, desirable in the conduct of its business and not
disadvantageous in any material respect to the Holders.

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     SECTION 10.07 INSURANCE.

     The Company will, and will cause each of its Subsidiaries to, keep all of its insurable
properties adequately insured against loss or damage with insurers of recognized responsibility in
commercially reasonable amounts and types.

     SECTION 10.08 PAYMENT OF TAXES AND OTHER CLAIMS.

     The Company will pay or discharge or cause to be paid or discharged, before the same shall
become delinquent, (1) all material taxes, assessments and governmental charges levied or imposed
upon it or any Subsidiary or upon the income, profits or property of the Company or any Subsidiary,
and (2) all material lawful claims for labor, materials and supplies which, if unpaid, might by law
become a lien upon the property of the Company or any Subsidiary unless such lien would not have a
material adverse effect upon such property; provided, however, that the Company shall not be
required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or
claim (i) whose amount, applicability or validity is being contested in good faith by appropriate
proceedings or (ii) for which the Company has set apart and maintains an adequate reserve.

     SECTION 10.09 COMMISSION AND OTHER REPORTS TO THE TRUSTEE.

     (a) The Company shall ensure delivery to the Trustee within 15 calendar days after it
files such annual and quarterly reports, information, documents and other reports with the
Commission, copies of its annual report and of the information, documents and other reports
(or copies of such portions of any of the foregoing as the Commission may by rules and
regulations prescribe) which the Company is required to file with the Commission pursuant to
Section 13 or 15(d) of the Exchange Act in accordance with TIA Section 314(a). In the event
the Company is at any time no longer subject to the reporting requirements of Section 13 or
15(d) of the Exchange Act, it shall continue to provide the Trustee with reports containing
substantially the same information as would have been required to be filed with the
Commission if the Company had continued to have been subject to such reporting requirements.
In such event, such reports shall be provided at the times the Company would have been
required to provide reports if it had continued to have been subject to such reporting
requirements. The Company also shall comply with the other provisions of TIA Section 314(a).
Delivery of such reports, information and documents to the Trustee is for informational
purposes only and the Trustee’s receipt of such reports, information and documents shall not
constitute constructive notice of any information contained therein or determinable from
information contained therein, including the Company’s compliance with any of its covenants
hereunder (as to which the Trustee is entitled to rely on Officers’ Certificates). The
Trustee shall have no duty or responsibility to review such reports, information or
documents. In the event that the Company shall provide the Trustee with any such report,
information or document and shall not have filed such report, information or document on the
Commission’s Electronic Data Gathering, Analysis and Retrieval system, the Trustee shall
promptly mail copies of such report, information or document to each Holder (other than
reports provided solely pursuant to TIA Section 314(a)).

     (b) The Company intends to file the reports, information and documents referred to in
Section 10.09(a) with the Commission in electronic form pursuant to Regulation S-T of the
Commission using the Commission’s Electronic Data Gathering, Analysis and Retrieval system.

     Compliance with the foregoing shall constitute delivery by the Company of such reports,

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information and documents to the Trustee in compliance with the provisions of Section 10.09(a)
and TIA Section 314(a). The Trustee shall have no duty to search for or obtain any electronic or
other filings that the Company makes with the Commission, regardless of whether such filings are
periodic, supplemental or otherwise. Delivery of the reports, information and documents to the
Trustee pursuant to this Section 10.09(b) shall be solely for the purposes of compliance with this
Section 10.09(b) and with TIA Section 314(a). The Trustee’s receipt of such reports, information
and documents shall not constitute notice to it of the content thereof or of any matter
determinable from the content thereof, including the Company’s compliance with any of its covenants
hereunder, as to which the Trustee is entitled to rely on Officers’ Certificates.

     SECTION 10.10 STATEMENT AS TO COMPLIANCE.

     The Company and each Guarantor will deliver to the Trustee, within 120 days after the end of
each fiscal year, a brief certificate from the principal executive officer, principal financial
officer or principal accounting officer as to his or her knowledge of its compliance with all
conditions and covenants under this Indenture and, in the event of any noncompliance, specifying
such noncompliance and the nature and status thereof. For purposes of this Section 10.10, such
compliance shall be determined without regard to any period of grace or requirement of notice under
this Indenture.

     SECTION 10.11 ADDITIONAL AMOUNTS.

     If any Securities of a series provide for the payment of Additional Amounts, the Company will
pay to the Holder of any Security of such series or any coupon appertaining thereto Additional
Amounts as may be specified as contemplated by Section 3.01. Whenever in this Indenture there is
mentioned, in any context except in the case of Section 5.02(1), the payment of the principal of or
any premium or interest on, or in respect of, any Security of any series or payment of any related
coupon or the net proceeds received on the sale or exchange of any Security of any series, such
mention shall be deemed to include mention of the payment of Additional Amounts provided by the
terms of such series established pursuant to Section 3.01 to the extent that, in such context,
Additional Amounts are, were or would be payable in respect thereof pursuant to such terms and
express mention of the payment of Additional Amounts (if applicable) in any provisions hereof shall
not be construed as excluding Additional Amounts in those provisions hereof where such express
mention is not made.

     Except as otherwise specified as contemplated by Section 3.01, if the Securities of a series
provide for the payment of Additional Amounts, at least 10 days prior to the first Interest Payment
Date with respect to that series of Securities (or if the Securities of that series will not bear
interest prior to Maturity, the first day on which a payment of principal and any premium is made),
and at least 10 days prior to each date of payment of principal and any premium or interest if
there has been any change with respect to the matters set forth in the below-mentioned Officers’
Certificate, the Company will furnish the Trustee and the Company’s principal Paying Agent or
Paying Agents, if other than the Trustee, with an Officers’ Certificate instructing the Trustee and
such Paying Agent or Paying Agents whether such payment of principal of and any premium or interest
on the Securities of that series shall be made to Holders of Securities of that series or any
related coupons who are not United States persons without withholding for or on account of any tax,
assessment or other governmental charge described in the Securities of the series. If any such
withholding shall be required, then such Officers’ Certificate shall specify by country the amount,
if any, required to be withheld on such payments to such Holders of Securities of that series or
related coupons and the

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Company will pay to the Trustee or such Paying Agent the Additional Amounts required by the
terms of such Securities. In the event that the Trustee or any Paying Agent, as the case may be,
shall not so receive the above-mentioned certificate, then the Trustee or such Paying Agent shall
be entitled (i) to assume that no such withholding or deduction is required with respect to any
payment of principal, premium, if any, or interest with respect to any Securities of a series or
related coupons until it shall have received a certificate advising otherwise and (ii) to make all
payments of principal, premium, if any, and interest with respect to the Securities of a series or
related coupons without withholding or deductions until otherwise advised. The Company covenants to
indemnify the Trustee and any Paying Agent for, and to hold them harmless against, any loss,
liability or expense reasonably incurred without negligence or bad faith on their part arising out
of or in connection with actions taken or omitted by any of them or in reliance on any Officers’
Certificate furnished pursuant to this Section or in reliance on the Company’s not furnishing such
an Officers’ Certificate.

     SECTION 10.12 WAIVER OF CERTAIN COVENANTS.

     The Company may omit in any particular instance to comply with any term, provision or
condition set forth in Sections 10.05 to 10.11, inclusive, if before or after the time for such
compliance the Holders of at least a majority in principal amount of all outstanding Securities of
such series, by Act of such Holders, either waive such compliance in such instance or generally
waive compliance with such covenant or condition, but no such waiver shall extend to or affect such
covenant or condition except to the extent so expressly waived, and, until such waiver shall become
effective, the obligations of the Company and the duties of the Trustee in respect of any such
term, provision or condition shall remain in full force and effect.

ARTICLE XI.

REDEMPTION OF SECURITIES

     SECTION 11.01 APPLICABILITY OF ARTICLE.

     Securities of any series which are redeemable before their Stated Maturity shall be redeemable
in accordance with their terms and (except as otherwise specified as contemplated by Section 3.01
for Securities of any series) in accordance with this Article.

     SECTION 11.02 ELECTION TO REDEEM; NOTICE TO TRUSTEE.

     The election of the Company to redeem any Securities shall be evidenced by or pursuant to a
Board Resolution. In case of any redemption at the election of the Company of less than all of the
Securities of any series, the Company shall, at least 15 days prior to the giving of the notice of
redemption in Section 11.04 (unless a shorter notice shall be satisfactory to the Trustee, for
purposes of the Trustee’s administrative convenience), notify the Trustee in writing of such
Redemption Date and of the principal amount of Securities of such series to be redeemed. In the
case of any redemption of Securities prior to the expiration of any restriction on such redemption
provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish
the Trustee with an Officers’ Certificate evidencing compliance with such restriction.

     SECTION 11.03 SELECTION BY TRUSTEE OF SECURITIES TO BE REDEEMED.

     If less than all the Securities of any series issued on the same day with the same terms are

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to be redeemed, the particular Securities to be redeemed shall be selected not more than 60
days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series
issued on such date with the same terms not previously called for redemption, by such method as the
Trustee shall deem fair and appropriate and which may provide for the selection for redemption of
portions (equal to the minimum authorized denomination for Securities of that series or any
integral multiple thereof) of the principal amount of Securities of such series of a denomination
larger than the minimum authorized denomination for Securities of that series.

     The Trustee shall promptly notify the Company and the Security Registrar (if other than
itself) in writing of the Securities selected for redemption and, in the case of any Securities
selected for partial redemption, the principal amount thereof to be redeemed.

     For all purposes of this Indenture, unless the context otherwise requires, all provisions
relating to the redemption of Securities shall relate, in the case of any Security redeemed or to
be redeemed only in part, to the portion of the principal amount of such Security which has been or
is to be redeemed.

     SECTION 11.04 NOTICE OF REDEMPTION.

     Notice of redemption shall be given in the manner provided in Section 1.06, not less than 30
days nor more than 60 days prior to the Redemption Date, unless a shorter period is specified by
the terms of such series established pursuant to Section 3.01, to each Holder of Securities to be
redeemed, but failure to give such notice in the manner herein provided to the Holder of any
Security designated for redemption as a whole or in part, or any defect in the notice to any such
Holder, shall not affect the validity of the proceedings for the redemption of any other such
Security or portion thereof.

     Any notice that is mailed to the Holders of Registered Securities in the manner herein
provided shall be conclusively presumed to have been duly given, whether or not the Holder receives
the notice.

     All notices of redemption shall state:

     (1) the Redemption Date,

     (2) the Redemption Price, accrued interest to the Redemption Date payable as provided
in Section 11.06, if any, and Additional Amounts, if any,

     (3) if less than all Outstanding Securities of any series are to be redeemed, the
identification (and, in the case of partial redemption, the principal amount) of the
particular Security or Securities to be redeemed,

     (4) in case any Security is to be redeemed in part only, the notice which relates to
such Security shall state that on and after the Redemption Date, upon surrender of such
Security, the holder will receive, without a charge, a new Security or Securities of
authorized denominations for the principal amount thereof remaining unredeemed,

     (5) that on the Redemption Date the Redemption Price and accrued interest to the
Redemption Date payable as provided in Section 11.06, if any, will become due and

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payable upon each such Security, or the portion thereof, to be redeemed and, if
applicable, that interest thereon shall cease to accrue on and after said date,

     (6) the Place or Places of Payment where such Securities, together in the case of
Bearer Securities with all coupons appertaining thereto, if any, maturing after the
Redemption Date, are to be surrendered for payment of the Redemption Price and accrued
interest, if any, or for conversion,

     (7) that the redemption is for a sinking fund, if such is the case,

     (8) that, unless otherwise specified in such notice, Bearer Securities of any series,
if any, surrendered for redemption must be accompanied by all coupons maturing subsequent to
the date fixed for redemption or the amount of any such missing coupon or coupons will be
deducted from the Redemption Price, unless security or indemnity reasonably satisfactory to
the Company, the Trustee for such series and any Paying Agent is furnished,

     (9) if Bearer Securities of any series are to be redeemed and any Registered Securities
of such series are not to be redeemed, and if such Bearer Securities may be exchanged for
Registered Securities not subject to redemption on this Redemption Date pursuant to Section
3.05 or otherwise, the last date, as determined by the Company, on which such exchanges may
be made,

     (10) the CUSIP number of such Security, if any, and

     (11) if applicable, that a Holder of Securities who desires to convert Securities for
redemption must satisfy the requirements for conversion contained in such Securities, the
then existing conversion price or rate, and the date and time when the option to convert
shall expire.

     Notice of redemption of Securities to be redeemed shall be given by the Company or, at the
Company’s request, by the Trustee in the name and at the expense of the Company.

     SECTION 11.05 DEPOSIT OF REDEMPTION PRICE.

     At least one Business Day prior to any Redemption Date, the Company shall deposit with the
Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, which it may
not do in the case of a sinking fund payment under Article Twelve, segregate and hold in trust as
provided in Section 10.03) an amount of money in the currency or currencies in which the Securities
of such series are payable (except as otherwise specified pursuant to Section 3.01 for the
Securities of such series) sufficient to pay on the Redemption Date the Redemption Price of, and
(except if the Redemption Date shall be an Interest Payment Date, unless otherwise specified
pursuant to Section 3.01 or in the Securities of such series) accrued interest on, all the
Securities or portions thereof which are to be redeemed on that date.

     SECTION 11.06 SECURITIES PAYABLE ON REDEMPTION DATE.

     Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall,
on the Redemption Date, become due and payable at the Redemption Price therein specified in the
currency or currencies in which the Securities of such series are payable (except as otherwise

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specified pursuant to Section 3.01 for the Securities of such series) (together with accrued
interest, if any, to the Redemption Date), and from and after such date (unless the Company shall
default in the payment of the Redemption Price and accrued interest) such Securities shall, if the
same were interest-bearing, cease to bear interest and the coupons for such interest appertaining
to any Bearer Securities so to be redeemed, except to the extent provided below, shall be void.
Upon surrender of any such Security for redemption in accordance with said notice, together with
all coupons, if any, appertaining thereto maturing after the Redemption Date, such Security shall
be paid by the Company at the Redemption Price, together with accrued interest, if any, to the
Redemption Date; provided, however, that installments of interest on Bearer Securities whose Stated
Maturity is on or prior to the Redemption Date shall be payable only at an office or agency located
outside the United States (except as otherwise provided in Section 10.02) and, unless otherwise
specified as contemplated by Section 3.01, only upon presentation and surrender of coupons for such
interest; and provided further that, except as otherwise specified in or pursuant to this Indenture
or the Registered Securities of a series, installments of interest on Registered Securities whose
Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such
Securities, or one or more Predecessor Securities, registered as such at the close of business on
the relevant Record Dates according to their terms and the provisions of Section 3.07.

     If any Bearer Security surrendered for redemption shall not be accompanied by all appurtenant
coupons maturing after the Redemption Date, such Security may be paid after deducting from the
Redemption Price an amount equal to the face amount of all such missing coupons, or the surrender
of such missing coupon or coupons may be waived by the Company and the Trustee if there be
furnished to them such security or indemnity as they may require to save each of them and any
Paying Agent harmless. If thereafter the Holder of such Security shall surrender to the Trustee or
any Paying Agent any such missing coupon in respect of which a deduction shall have been made from
the Redemption Price, such Holder shall be entitled to receive the amount so deducted; provided,
however, that interest represented by coupons shall be payable only at an office or agency located
outside the United States (except as otherwise provided in Section 10.02) and, unless otherwise
specified as contemplated by Section 3.01, only upon presentation and surrender of those coupons.

     If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal of and premium, if any, and, to the extent legally enforceable, interest
or Yield to Maturity (in the case of Original Issue Discount Securities) on such Security shall,
until paid, bear interest from the Redemption Date at the rate borne by the Security on the
Redemption Date.

     SECTION 11.07 SECURITIES REDEEMED IN PART.

     Any Registered Security which is to be redeemed only in part (pursuant to the provisions of
this Article or of Article Twelve) shall be surrendered at a Place of Payment therefor (with, if
the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in
form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his
attorney duly authorized in writing) and the

     Company shall execute and the Trustee shall authenticate and deliver to the Holder of
such Security without service charge a new Security or Securities of the same series, of any
authorized denomination as requested by such Holder in aggregate principal amount equal to and in
exchange for the unredeemed portion of the principal of the Security so surrendered.

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ARTICLE XII.

SINKING FUNDS

     SECTION 12.01 APPLICABILITY OF ARTICLE.

     The provisions of this Article shall be applicable to any sinking fund for the retirement of
Securities of a series except as otherwise specified as contemplated by Section 3.01 for Securities
of such series.

     The minimum amount of any sinking fund payment provided for by the terms of Securities of any
series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of
such minimum amount provided for by the terms of such Securities of any series is herein referred
to as an “optional sinking fund payment.” If provided for by the terms of any Securities of any
series, the cash amount of any mandatory sinking fund payment may be subject to reduction as
provided in Section 12.02. Each sinking fund payment shall be applied to the redemption of
Securities of any series as provided for by the terms of Securities of such series.

     SECTION 12.02 SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES.

     The Company may, in satisfaction of all or any part of any mandatory sinking fund payment with
respect to the Securities of a series, (1) deliver Outstanding Securities of such series (other
than Outstanding Securities any previously called for redemption) together in the case of any
Bearer Securities of such series with all unmatured coupons appertaining thereto and (2) apply as a
credit Securities of such series which have been redeemed either at the election of the Company
pursuant to the terms of such Securities or through the application of permitted optional sinking
fund payments pursuant to the terms of such Securities, as provided for by the terms of such
Securities, or which have otherwise been acquired by the Company; provided that such Securities so
delivered or applied as a credit have not been previously so credited. Such Securities shall be
received and credited for such purpose by the Trustee at the applicable Redemption Price specified
in such Securities for redemption through operation of the sinking fund and the amount of such
mandatory sinking fund payment shall be reduced accordingly.

     SECTION 12.03 REDEMPTION OF SECURITIES FOR SINKING FUND.

     Not less than 60 days prior to each sinking fund payment date for Securities of any series,
the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next
ensuing mandatory sinking fund payment for that series pursuant to the terms of that series, the
portion thereof, if any, which is to be satisfied by payment of cash in the currency or currencies
in which the Securities of such series are payable (except as otherwise specified pursuant to
Section 3.01 for the Securities of such series) and the portion thereof, if any, which is to be
satisfied by delivering and crediting Securities of that series pursuant to Section 12.02, and the
optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment,
and will also deliver to the Trustee any Securities to be so delivered and credited. If such
Officers’ Certificate shall specify an optional amount to be added in cash to the next ensuing
mandatory sinking fund payment, the Company shall thereupon be obligated to pay the amount therein
specified. Not less than 30 days before each such sinking fund payment date the Trustee shall
select the Securities to be redeemed upon such sinking fund payment date in the manner specified in
Section 11.03 and cause

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notice of the redemption thereof to be given in the name of and at the expense of the Company
in the manner provided in Section 11.04. Such notice having been duly given, the redemption of such
Securities shall be made upon the terms and in the manner stated in Sections 11.06 and 11.07.

ARTICLE XIII.

REPAYMENT AT THE OPTION OF HOLDERS

     SECTION 13.01 APPLICABILITY OF ARTICLE.

     Repayment of Securities of any series before their Stated Maturity at the option of Holders
thereof shall be made in accordance with the terms of such Securities, if any, and (except as
otherwise specified by the terms of such series established pursuant to Section 3.01) in accordance
with this Article.

     SECTION 13.02 REPAYMENT OF SECURITIES.

     Securities of any series subject to repayment in whole or in part at the option of the Holders
thereof will, unless otherwise provided in the terms of such Securities, be repaid at a price equal
to the principal amount thereof, together with interest, if any, thereon accrued to the Repayment
Date specified in or pursuant to the terms of such Securities. The Company covenants that at least
one Business Day prior to the Repayment Date it will deposit with the Trustee or with a Paying
Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as
provided in Section 10.03) an amount of money in the currency or currencies in which the Securities
of such series are payable (except as otherwise specified pursuant to Section 3.01 for the
Securities of such series) sufficient to pay the principal (or, if so provided by the terms of the
Securities of any series, a percentage of the principal) of, and (except if the Repayment Date
shall be an Interest Payment Date, unless otherwise specified pursuant to Section 3.01 or in the
Securities of such series) accrued interest on, all the Securities or portions thereof, as the case
may be, to be repaid on such date.

     SECTION 13.03 EXERCISE OF OPTION.

     Securities of any series subject to repayment at the option of the Holders thereof will
contain an “Option to Elect Repayment” form on the reverse of such Securities. In order for any
Security to be repaid at the option of the Holder, the Trustee must receive at the Place of Payment
therefor specified in the terms of such Security (or at such other place or places of which the
Company shall from time to time notify the Holders of such Securities) not earlier than 60 days nor
later than 30 days prior to the Repayment Date (1) the Security so providing for such repayment
together with the “Option to Elect Repayment” form on the reverse thereof duly completed by the
Holder (or by the Holder’s attorney duly authorized in writing) or (2) a telegram, telex, facsimile
transmission or a letter from a member of a national securities exchange, or the National
Association of Securities Dealers, Inc. (“NASD”), or a commercial bank or trust company in the
United States setting forth the name of the Holder of the Security, the principal amount of the
Security, the principal amount of the Security to be repaid, the CUSIP number, if any, or a
description of the tenor and terms of the Security, a statement that the option to elect repayment
is being exercised thereby and a guarantee that the Security to be repaid, together with the duly
completed form entitled “Option to Elect Repayment” on the reverse of the Security, will be
received by the Trustee not later than the fifth Business Day after the date of such telegram,
telex, facsimile transmission or letter; provided, however, that such

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telegram, telex, facsimile transmission or letter shall only be effective if such Security and
form duly completed are received by the Trustee by such fifth Business Day. If less than the entire
principal amount of such Security is to be repaid in accordance with the terms of such Security,
the principal amount of such Security to be repaid, in increments of the minimum denomination for
Securities of such series, and the denomination or denominations of the Security or Securities to
be issued to the Holder for the portion of the principal amount of such Security surrendered that
is not to be repaid, must be specified. The principal amount of any Security providing for
repayment at the option of the Holder thereof may not be repaid in part if, following such
repayment, the unpaid principal amount of such Security would be less than the minimum authorized
denomination of Securities of the series of which such Security to be repaid is a part. Except as
otherwise may be provided by the terms of any Security providing for repayment at the option of the
Holder thereof, exercise of the repayment option by the Holder shall be irrevocable unless waived
by the Company.

     SECTION 13.04 WHEN SECURITIES PRESENTED FOR REPAYMENT BECOME DUE AND PAYABLE.

     If Securities of any series providing for repayment at the option of the Holders thereof shall
have been surrendered as provided in this Article and as provided by or pursuant to the terms of
such Securities, such Securities or the portions thereof, as the case may be, to be repaid shall
become due and payable and shall be paid by the Company on the Repayment Date therein specified,
and on and after such Repayment Date (unless the Company shall default in the payment of such
Securities on such Repayment Date) such Securities shall, if the same were interest-bearing, cease
to bear interest and the coupons for such interest appertaining to any Bearer Securities so to be
repaid, except to the extent provided below, shall be void. Upon surrender of any such Security for
repayment in accordance with such provisions, together with all coupons, if any, appertaining
thereto maturing after the Repayment Date, the principal amount of such Security so to be repaid
shall be paid by the Company, together with accrued interest, if any, to the Repayment Date;
provided, however, that coupons whose Stated Maturity is on or prior to the Repayment Date shall be
payable only at an office or agency located outside the United States (except as otherwise provided
in Section 10.02) and, unless otherwise specified pursuant to Section 3.01, only upon presentation
and surrender of such coupons; and provided further that, in the case of Registered Securities
(except as otherwise specified in or pursuant to this Indenture or the Registered Securities of a
series), installments of interest, if any, whose Stated Maturity is on or prior to the Repayment
Date shall be payable (but without interest thereon, unless the Company shall default in the
payment thereof) to the Holders of such Securities, or one or more Predecessor Securities,
registered as such at the close of business on the relevant Record Dates according to their terms
and the provisions of Section 3.07.

     If any Bearer Security surrendered for repayment shall not be accompanied by all appurtenant
coupons maturing after the Repayment Date, such Security may be paid after deducting from the
amount payable therefor as provided in Section 13.02 an amount equal to the face amount of all such
missing coupons, or the surrender of such missing coupon or coupons may be waived by the Company
and the Trustee if there shall be furnished to them such security or indemnity as they may require
to save each of them and any Paying Agent harmless. If thereafter the Holder of such Security shall
surrender to the Trustee or any Paying Agent any such missing coupon in respect of which a
deduction shall have been made as provided in the preceding sentence, such Holder shall be entitled
to receive the amount so deducted; provided, however, that interest represented by coupons shall be
payable only at an office or agency located outside the United States (except as otherwise provided
in Section 10.02) and, unless otherwise specified as contemplated by Section

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3.01, only upon presentation and surrender of those coupons.

     If the principal amount of any Security surrendered for repayment shall not be so repaid upon
surrender thereof, such principal amount (and, to the extent legally enforceable, the interest, if
any, thereon accrued to such Repayment Date) shall, until paid, bear interest from the Repayment
Date at the rate of interest or Yield to Maturity (in the case of Original Issue Discount
Securities) borne by such Security on the Repayment Date.

     SECTION 13.05 SECURITIES REPAID IN PART.

     Upon surrender of any Registered Security which is to be repaid in part only, the Company
shall execute and the Trustee shall authenticate and deliver to the Holder of such Security,
without service charge and at the expense of the Company, a new Registered Security or Securities
of the same series, of any authorized denomination specified by the Holder, in an aggregate
principal amount equal to and in exchange for the portion of the principal of such Security so
surrendered which is not to be repaid.

ARTICLE XIV.

DEFEASANCE AND COVENANT DEFEASANCE

SECTION 14.01 APPLICABILITY OF ARTICLE; COMPANY’S OPTION TO EFFECT DEFEASANCE OR COVENANT DEFEASANCE.

     If, pursuant to Section 3.01, provision is made for either or both of (a) defeasance of the
Securities of or within a series under Section 14.02 or (b) covenant defeasance of the Securities
of or within a series under Section 14.03, then the provisions of such Section or Sections, as the
case may be, together with the other provisions of this Article (with such modifications thereto as
may be specified pursuant to Section 3.01 with respect to any Securities), shall be applicable to
such Securities and any coupons appertaining thereto, and the Company may at its option by Board
Resolution, at any time, with respect to such Securities and any coupons appertaining thereto,
elect to have Section 14.02 (if applicable) or Section 14.03 (if applicable) be applied to such
Outstanding Securities and any coupons appertaining thereto upon compliance with the conditions set
forth below in this Article.

     SECTION 14.02 DEFEASANCE AND DISCHARGE.

     Upon the Company’s exercise of the above option applicable to this Section with respect to any
Securities of or within a series, the Company shall be deemed to have been discharged from its
obligations with respect to such Outstanding Securities and any coupons appertaining thereto on the
date the conditions set forth in Section 14.04 are satisfied (hereinafter, “defeasance”). For this
purpose, such defeasance means that the Company shall be deemed to have paid and discharged the
entire indebtedness represented by such Outstanding Securities and any coupons appertaining
thereto, which shall thereafter be deemed to be “Outstanding” only for the purposes of Section
14.05 and the other Sections of this Indenture referred to in clauses (A) and (B) below, and to
have satisfied all of its other obligations under such Securities and any coupons appertaining
thereto and this Indenture insofar as such Securities and any coupons appertaining thereto are
concerned (and the Trustee, at the expense of the Company, shall execute proper instruments
acknowledging the same), except for the following which shall survive until otherwise terminated or
discharged hereunder: (A) the rights of Holders of such Outstanding Securities and any coupons
appertaining

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thereto to receive, solely from the trust fund described in Section 14.04 and as more fully
set forth in such Section, payments in respect of the principal of (and premium, if any) and
interest, if any, on such Securities and any coupons appertaining thereto when such payments are
due, (B) the Company’s obligations with respect to such Securities under Sections 3.05, 3.06, 10.02
and 10.03 and with respect to the payment of Additional Amounts, if any, on such Securities as
contemplated by Section 10.11, and under or with respect to Section 6.06 hereof, (C) the rights,
powers, trusts, duties and immunities of the Trustee hereunder, (D) the rights of Holders to
convert Securities, if any, in accordance with their terms, and (E) this Article. Subject to
compliance with this Article Fourteen, the Company may exercise its option under this Section
notwithstanding the prior exercise of its option under Section 14.03 with respect to such
Securities and any coupons appertaining thereto.

     SECTION 14.03 COVENANT DEFEASANCE.

     Upon the Company’s exercise of the above option applicable to this Section with respect to any
Securities of or within a series, the Company shall be released from its obligations under Sections
10.05 to 10.10, inclusive, and, if specified pursuant to Section 3.01, its obligations under any
other covenant, with respect to such Outstanding Securities and any coupons appertaining thereto on
and after the date the conditions set forth in Section 14.04 are satisfied (hereinafter, “covenant
defeasance”), and such Securities and any coupons appertaining thereto shall thereafter be deemed
to be not “Outstanding” for the purposes of any direction, waiver, consent or declaration or Act of
Holders (and the consequences of any thereof) in connection with Sections 10.05 to 10.10,
inclusive, or such other covenant, but shall continue to be deemed “Outstanding” for all other
purposes hereunder. For this purpose, such covenant defeasance means that, with respect to such
Outstanding Securities and any coupons appertaining thereto, the Company may omit to comply with
and shall have no liability in respect of any term, condition or limitation set forth in any such
Section or such other covenant, whether directly or indirectly, by reason of any reference
elsewhere herein to any such Section or such other covenant or by reason of reference in any such
Section or such other covenant to any other provision herein or in any other document and such
omission to comply shall not constitute a default or an Event of Default under Section 5.01(4) or
5.01(7) or otherwise, as the case may be, but, except as specified above, the remainder of this
Indenture and such Securities and any coupons appertaining thereto shall be unaffected thereby.

     SECTION 14.04 CONDITIONS TO DEFEASANCE OR COVENANT DEFEASANCE.

     The following shall be the conditions to application of Section 14.02 or Section 14.03 to any
Outstanding Securities of or within a series and any coupons appertaining thereto:

     (a) The Company shall irrevocably have deposited or caused to be deposited with the
Trustee (or another trustee satisfying the requirements of Section 6.07 who shall agree in
writing with the Company and the Trustee, an executed copy of which shall be provided to the
Trustee, to comply with the provisions of this Article Fourteen applicable to it (any such
other trustee being referred to herein, and in Section 14.05, as an “Other Qualifying
Trustee”) as trust funds in trust for the purpose of making the following payments,
specifically pledged as security for, and dedicated solely to, the benefit of the Holders of
such Securities and any coupons appertaining thereto, (1) an amount in such currency or
currencies in which such Securities and any coupons appertaining thereto are then specified
as payable at Stated Maturity, or (2) Government Obligations applicable to such Securities
and coupons appertaining thereto (determined on the basis of the currency or currencies in
which such Securities and coupons appertaining thereto are then specified as payable at

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Stated Maturity) which through the scheduled payment of principal and interest in
respect thereof in accordance with their terms will provide, not later than one day before
the due date of any payment of principal of (and premium, if any) and interest, if any, on
such Securities and any coupons appertaining thereto, money in an amount, or (3) a
combination thereof, in any case, in an amount, sufficient, without consideration of any
reinvestment of such principal and interest, in the opinion of a nationally recognized firm
of independent public accountants expressed in a written certification thereof delivered to
the Trustee, to pay and discharge, and which shall be applied by the Trustee (or Other
Qualifying Trustee) to pay and discharge, (i) the principal of (and premium, if any) and
interest, if any, on such Outstanding Securities and any coupons appertaining thereto on the
Stated Maturity of such principal or installment of principal or interest and (ii) any
mandatory sinking fund payments or analogous payments applicable to such Outstanding
Securities and any coupons appertaining thereto on the day on which such payments are due
and payable in accordance with the terms of this Indenture and of such Securities and any
coupons appertaining thereto. The Trustee shall have no liability for the actions or
omissions of any Other Qualifying Trustee.

     (b) Such defeasance or covenant defeasance shall not result in a breach or violation
of, or constitute a default under, this Indenture or any other material agreement or
instrument to which the Company or a Guarantor is a party or by which it is bound.

     (c) No Event of Default or event which with notice or lapse of time or both would
become an Event of Default with respect to such Securities and any coupons appertaining
thereto shall have occurred and be continuing on the date of such deposit or, insofar as
Sections 5.01(5) and 5.01(6) are concerned, at any time during the period ending on the 91st
day after the date of such deposit (it being understood that this condition shall not be
deemed satisfied until the expiration of such period).

     (d) In the case of an election under Section 14.02, the Company shall have delivered to
the Trustee an Opinion of Counsel stating that (i) the Company has received from, or there
has been published by, the Internal Revenue Service a ruling, or (ii) since the date of
execution of this Indenture, there has been a change in the applicable Federal income tax
law, in either case to the effect that, and based thereon such opinion shall confirm that,
the Holders of such Outstanding Securities and any coupons appertaining thereto will not
recognize income, gain or loss for Federal income tax purposes as a result of such
defeasance and will be subject to Federal income tax on the same amounts, in the same manner
and at the same times as would have been the case if such defeasance had not occurred.

     (e) In the case of an election under Section 14.03, the Company shall have delivered to
the Trustee an Opinion of Counsel to the effect that the Holders of such Outstanding
Securities and any coupons appertaining thereto will not recognize income, gain or loss for
Federal income tax purposes as a result of such covenant defeasance and will be subject to
Federal income tax on the same amounts, in the same manner and at the same times as would
have been the case if such covenant defeasance had not occurred.

     (f) The Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent to the defeasance under
Section 14.02 or the covenant defeasance under Section 14.03 (as the case may be) have been
complied with and an Opinion of Counsel to the effect that either (i) as a result of a
deposit pursuant to subsection (a) above and the related exercise of the Company’s option
under Section 14.02 or Section 14.03 (as the case may be), registration is not required
under the Investment Company Act of 1940, as amended, by the Company, with respect to the

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trust funds representing such deposit or by the Trustee for such trust funds or (ii)
all necessary registrations under said Act have been effected.

     (g) Notwithstanding any other provisions of this Section, such defeasance or covenant
defeasance shall be effected in compliance with any additional or substitute terms,
conditions or limitations which may be imposed on the Company in connection therewith
pursuant to Section 3.01.

SECTION 14.05 DEPOSITED MONEY AND GOVERNMENT OBLIGATIONS TO BE HELD IN TRUST; OTHER
MISCELLANEOUS PROVISIONS.

     Subject to the provisions of the last paragraph of Section 10.03, all money and Government
Obligations (or other property as may be provided pursuant to Section 3.01) (including the proceeds
thereof) deposited with the Trustee (or Other Qualifying Trustee) pursuant to Section 14.04 in
respect of any Outstanding Securities of any series and any coupons appertaining thereto shall be
held in trust and applied by the Trustee (or such Other Qualifying Trustee, as applicable), in
accordance with the provisions of such Securities and any coupons appertaining thereto and this
Indenture, to the payment, either directly or through any Paying Agent (including the Company
acting as its own Paying Agent) as the Trustee (or such Other Qualifying Trustee, as applicable)
may determine, to the Holders of such Securities and any coupons appertaining thereto of all sums
due and to become due thereon in respect of principal (and premium, if any) and interest and
Additional Amounts, if any, but such money need not be segregated from other funds except to the
extent required by law.

     Unless otherwise specified with respect to any Security pursuant to Section 3.01, if, after a
deposit referred to in Section 14.04(a) has been made, (a) the Holder of a Security in respect of
which such deposit was made is entitled to, and does, elect pursuant to Section 3.01 or the terms
of such Security to receive payment in a currency other than that in which the deposit pursuant to
Section 14.04(a) has been made in respect of such Security, or (b) a Conversion Event occurs in
respect of the currency in which the deposit pursuant to Section 14.04(a) has been made, the
indebtedness represented by such Security and any coupons appertaining thereto shall be deemed to
have been, and will be, fully discharged and satisfied through the payment of the principal of (and
premium, if any), and interest, if any, on such Security as the same becomes due out of the
proceeds yielded by converting (from time to time as specified below in the case of any such
election) the amount or other property deposited in respect of such Security into the currency in
which such Security becomes payable as a result of such election or Conversion Event based on the
applicable market exchange rate for such currency in effect on the second Business Day prior to
each payment date, except, with respect to a Conversion Event, for such currency in effect (as
nearly as feasible) at the time of the Conversion Event.

     The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the Government Obligations deposited pursuant to Section 14.04 or the
principal and interest received in respect thereof other than any such tax, fee or other charge
which by law is for the account of the Holders of such Outstanding Securities and any coupons
appertaining thereto.

     Anything in this Article to the contrary notwithstanding, subject to Section 6.06, the Trustee
(or such Other Qualifying Trustee, as applicable) shall deliver or pay to the Company from time to
time upon Company Request any money or Government Obligations (or other property and any proceeds
therefrom) held by it as provided in Section 14.04 which, in the opinion of a nationally

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recognized firm of independent public accountants expressed in a written certification thereof
delivered to the Trustee, are in excess of the amount thereof which would then be required to be
deposited to effect a defeasance or covenant defeasance, as applicable, in accordance with this
Article.

ARTICLE XV.

MEETINGS OF HOLDERS OF SECURITIES

     SECTION 15.01 PURPOSES FOR WHICH MEETINGS MAY BE CALLED.

     A meeting of Holders of Securities of any series may be called at any time and from time to
time pursuant to this Article to make, give or take any request, demand, authorization, direction,
notice, consent, waiver or other action provided by this Indenture to be made, given or taken by
Holders of Securities of such series.

     SECTION 15.02 CALL, NOTICE AND PLACE OF MEETINGS.

     (a) The Trustee may at any time call a meeting of Holders of Securities of any series
for any purpose specified in Section 15.01, to be held at such time and at such place in the
Borough of Manhattan in The City of New York as the Trustee shall determine. Notice of every
meeting of Holders of Securities of any series, setting forth the time and the place of such
meeting and in general terms the action proposed to be taken at such meeting, shall be
given, in the manner provided in Section 1.06, not less than 21 nor more than 180 days prior
to the date fixed for the meeting.

     (b) In case at any time the Company, pursuant to a Board Resolution, or the Holders of
at least 10% in principal amount of the Outstanding Securities of any series shall have
requested the Trustee to call a meeting of the Holders of Securities of such series for any
purpose specified in Section 15.01, by written request setting forth in reasonable detail
the action proposed to be taken at the meeting, and the Trustee shall not have made the
first publication of the notice of such meeting within 21 days after receipt of such request
or shall not thereafter proceed to cause the meeting to be held as provided herein, then the
Company or the Holders of Securities of such series in the amount above specified, as the
case may be, may determine the time and the place in the Borough of Manhattan in The City of
New York for such meeting and may call such meeting for such purposes by giving notice
thereof as provided in paragraph (a) of this Section.

     SECTION 15.03 PERSONS ENTITLED TO VOTE AT MEETINGS.

     To be entitled to vote at any meeting of Holders of Securities of any series, a Person shall
be (1) a Holder of one or more Outstanding Securities of such series, or (2) a Person appointed by
an instrument in writing as proxy for a Holder or Holders of one or more Outstanding Securities of
such series by such Holder or Holders. The only Persons who shall be entitled to be present or to
speak at any meeting of Holders of Securities of any series shall be the Persons entitled to vote
at such meeting and their counsel, any representatives of the Trustee and its counsel and any
representatives of the Company or a Guarantor and their counsel.

     SECTION 15.04 QUORUM; ACTION.

     The Persons entitled to vote a majority in principal amount of the Outstanding Securities of a

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series shall constitute a quorum for a meeting of Holders of Securities of such series;
provided, however, that if any action is to be taken at such meeting with respect to a consent or
waiver which this Indenture expressly provides may be given by the Holders of not less than a
specified percentage in principal amount of the Outstanding Securities of a series, the Persons
entitled to vote such specified percentage in principal amount of the Outstanding Securities of
such series shall constitute a quorum. In the absence of a quorum within 30 minutes after the time
appointed for any such meeting, the meeting shall, if convened at the request of Holders of
Securities of such series, be dissolved. In any other case the meeting may be adjourned for a
period of not less than 10 days as determined by the chairman of the meeting prior to the
adjournment of such meeting. In the absence of a quorum at any such adjourned meeting, such
adjourned meeting may be further adjourned for a period of not less than 10 days as determined by
the chairman of the meeting prior to the adjournment of such adjourned meeting. Notice of the
reconvening of any adjourned meeting shall be given as provided in Section 15.02(a), except that
such notice need be given only once not less than five days prior to the date on which the meeting
is scheduled to be reconvened. Notice of the reconvening of any adjourned meeting shall state
expressly the percentage, as provided above, of the principal amount of the Outstanding Securities
of such series which shall constitute a quorum.

     Except as limited by the proviso to Section 9.02, any resolution presented to a meeting or
adjourned meeting duly reconvened at which a quorum is present as aforesaid may be adopted by the
affirmative vote of the Holders of a majority in principal amount of the Outstanding Securities of
that series; provided, however, that, except as limited by the proviso to Section 9.02, any
resolution with respect to any request, demand, authorization, direction, notice, consent, waiver
or other action which this Indenture expressly provides may be made, given or taken by the Holders
of a specified percentage, which is less than a majority, in principal amount of the Outstanding
Securities of a series may be adopted at a meeting or an adjourned meeting duly reconvened and at
which a quorum is present as aforesaid by the affirmative vote of the Holders of such specified
percentage in principal amount of the Outstanding Securities of that series.

     Any resolution passed or decision taken at any meeting of Holders of Securities of any series
duly held in accordance with this Section shall be binding on all the Holders of Securities of such
series and the related coupons, whether or not present or represented at the meeting.

     Notwithstanding the foregoing provisions of this Section 15.04, if any action is to be taken
at a meeting of Holders of Securities of any series with respect to any request, demand,
authorization, direction, notice, consent, waiver or other action that this Indenture expressly
provides may be made, given or taken by the Holders of a specified percentage in principal amount
of all Outstanding Securities affected thereby, or of the Holders of such series and one or more
additional series:

     (i) there shall be no minimum quorum requirement for such meeting; and

     (ii) the principal amount of the Outstanding Securities of such series that vote in
favor of such request, demand, authorization, direction, notice, consent, waiver or other
action shall be taken into account in determining whether such request, demand,
authorization, direction, notice, consent, waiver or other action has been made, given or
taken under this Indenture.

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SECTION 15.05 DETERMINATION OF VOTING RIGHTS; CONDUCT AND ADJOURNMENT OF MEETINGS.

     (a) Notwithstanding any provisions of this Indenture, the Trustee may make such
reasonable regulations as it may deem advisable for any meeting of Holders of Securities of
a series in regard to proof of the holding of Securities of such series and of the
appointment of proxies and in regard to the appointment and duties of inspectors of votes,
the submission and examination of proxies, certificates and other evidence of the right to
vote, and such other matters concerning the conduct of the meeting as it shall deem
appropriate. Except as otherwise permitted or required by any such regulations, the holding
of Securities shall be proved in the manner specified in Section 1.04 and the appointment of
any proxy shall be proved in the manner specified in Section 1.04 or by having the signature
of the Person executing the proxy witnessed or guaranteed by any trust company, bank or
banker authorized by Section 1.04 to certify to the holding of Bearer Securities. Such
regulations may provide that written instruments appointing proxies, regular on their face,
may be presumed valid and genuine without the proof specified in Section 1.04 or other
proof.

     (b) The Trustee shall, by an instrument in writing, appoint a temporary chairman of the
meeting, unless the meeting shall have been called by the Company or by Holders of
Securities as provided in Section 15.02(b), in which case the Company or the Holders of
Securities of the series calling the meeting, as the case may be, shall in like manner
appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting
shall be elected by vote of the Persons entitled to vote a majority in principal amount of
the Outstanding Securities of such series represented at the meeting.

     (c) At any meeting each Holder of a Security of such series or proxy shall be entitled
to one vote for each $1,000 principal amount of the Outstanding Securities of such series
held or represented by him; provided, however, that no vote shall be cast or counted at any
meeting in respect of any Security challenged as not Outstanding and ruled by the chairman
of the meeting to be not Outstanding. The chairman of the meeting shall have no right to
vote, except as a Holder of a Security of such series or proxy.

     (d) Any meeting of Holders of Securities of any series duly called pursuant to Section
15.02 at which a quorum is present may be adjourned from time to time by Persons entitled to
vote a majority in principal amount of the Outstanding Securities of such series represented
at the meeting, and the meeting may be held as so adjourned without further notice.

     SECTION 15.06 COUNTING VOTES AND RECORDING ACTION OF MEETINGS.

     The vote upon any resolution submitted to any meeting of Holders of Securities of any series
shall be by written ballots on which shall be subscribed the signatures of the Holders of
Securities of such series or of their representatives by proxy and the principal amounts and serial
numbers of the Outstanding Securities of such series held or represented by them. The permanent
chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the
meeting for or against any resolution and who shall make and file with the secretary of the meeting
their verified written reports in duplicate of all votes cast at the meeting. A record, at least in
duplicate, of the proceedings of each meeting of Holders of Securities of any Series shall be
prepared by the secretary of the meeting and there shall be attached to said record the original
reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or
more persons having knowledge of the fact, setting forth a copy of the notice of the meeting and
showing that said notice

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was given as provided in Section 15.02 and, if applicable, Section 15.04. Each copy shall be
signed and verified by the affidavits of the permanent chairman and secretary of the meeting and
one such copy shall be delivered to the Company and another to the Trustee to be preserved by the
Trustee, the latter to have attached thereto the ballots voted at the meeting. Any record so signed
and verified shall be conclusive evidence of the matters therein stated.

ARTICLE XVI.

GUARANTEE OF SECURITIES

     SECTION 16.01 GUARANTEE.

     (1) Each Person designated as a “Guarantor” in the Board Resolution, supplemental
indenture or Officers’ Certificate establishing a series of Securities that also establishes
itself as a Guarantor of such Securities by Board Resolution or pursuant to authority
granted by one or more Board Resolutions and set forth, or determined in the manner
provided, in an Officers’ Certificate, or established in one or more indentures supplemental
hereto, with respect to each series of Securities to which this Article Sixteen is made
applicable, irrevocably and unconditionally guarantees (the “Guarantee”) to each Holder of a
Security of such series authenticated and delivered by the Trustee and to the Trustee and
its successors and assigns, irrespective of the validity and enforceability of this
Indenture, the Securities of such series or the obligations of the Company under this
Indenture or the Securities of such series, that: (i) the principal of and premium, if any,
and interest on, or any Additional Amount in respect of, the Securities of such series will
be paid in full when due, whether at the Stated Maturity or Interest Payment Date, by
acceleration, call for redemption, or otherwise; (ii) all other obligations of the Company
to the Holders of such series or the Trustee under this Indenture or the Securities of such
series will be promptly paid in full, all in accordance with the terms of this Indenture and
the Securities of such series; and (iii) in case of any extension of time of payment or
renewal of any Securities of such series or any of such other obligations thereunder, they
will be paid in full when due in accordance with the terms of the extension or renewal,
whether at the Stated Maturity or Interest Payment Date, by acceleration, call for
redemption, or otherwise. Failing payment when due of any amount so guaranteed for whatever
reason, each Guarantor shall be obligated to pay the same before failure so to pay becomes
an Event of Default with respect to Securities of any series. If the Company defaults in the
payment of the principal of or premium, if any, or interest on, or any Additional Amount in
respect of, the Securities of a series so guaranteed when and as the same shall become due,
whether at the Stated Maturity or Interest Payment Date, by acceleration, call for
redemption, or otherwise, without the necessity of action by the Trustee or any Holder, each
Guarantor with respect to such series shall be required to promptly make such payment in
full. The obligations of all Guarantors under this Article Sixteen shall be joint and
several.

     (2) Each Guarantor agrees with respect to Securities of any series that its obligations
with regard to this Guarantee shall be as principal and not merely as surety and shall be
full, irrevocable and unconditional, irrespective of the validity, regularity or
enforceability of the Securities of such series or this Indenture, the absence of any action
to enforce the same, any delays in obtaining or realizing upon or failures to obtain or
realize upon collateral, the recovery of any judgment against the Company, any action to
enforce the same or any other circumstances that might otherwise constitute a legal or
equitable

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discharge or defense of a surety or a guarantor. Each Guarantor with respect to
Securities of any series hereby waives diligence, presentment, demand of payment, filing of
claims with a court in the event of insolvency or bankruptcy of the Company, any right to
require a proceeding first against the Company or right to require the prior disposition of
the assets of the Company to meet its obligations, protest, notice and all demands
whatsoever and covenants that this Guarantee will not be discharged except by complete
performance of all obligations contained in the Securities of such series and this Indenture
as it relates to such series of Securities.

     (3) If any Holder of Securities of a series or the Trustee is required by any court or
otherwise to return to any of the Company or a Guarantor with respect to Securities of that
series, or any Custodian, trustee, or similar official acting in relation to any of the
Company or a Guarantor, any amount paid by any of the Company or a Guarantor to the Trustee
or such Holder with respect to Securities of that series, the Guarantee with respect to
Securities of that series, to the extent theretofore discharged, shall be reinstated in full
force and effect. Each Guarantor agrees that it will not be entitled to any right of
subrogation in relation to the Holders of Securities of a series in respect of any
obligations guaranteed hereby until payment in full of all obligations of Securities of such
series. Each Guarantor further agrees that, as between the Guarantors, on the one hand, and
the Holders and the Trustee, on the other hand, (i) the maturity of the obligations
guaranteed hereby may be accelerated as provided in Section 5.02 for the purposes of a
Guarantee, notwithstanding any stay, injunction or other prohibition preventing such
acceleration as to the Company of the obligations so guaranteed, and (ii) in the event of
any declaration of acceleration of those obligations as provided in Section 5.02, those
obligations (whether or not due and payable) will forthwith become due and payable by the
Guarantors with respect to Securities of a series for purposes of the Guarantee.

     (4) Each Guarantor and by its acceptance of a Security issued hereunder each Holder
hereby confirms that it is the intention of all such parties that the Guarantee by each
Guarantor set forth in Section 16.01(1) not constitute a fraudulent transfer or conveyance
for purpose of any Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform
Fraudulent Transfer Act or any similar Federal or state law. To effectuate the foregoing
intention, the Holders and all Guarantors hereby irrevocably agree that the obligations of
each of the Guarantors under the Guarantee set forth in Section 16.01(1) shall be limited to
the maximum amount as will, after giving effect to all other contingent and fixed
liabilities of such Guarantor, and after giving effect to any collections from or payments
made by or on behalf of any other Guarantor in respect of the obligations of such other
Guarantor under its Guarantee or pursuant to the next succeeding sentence, result in the
obligations of such Guarantor under such Guarantee not constituting such a fraudulent
transfer or conveyance. Each Guarantor that makes any payment or distribution under Section
16.01(1) shall be entitled to a contribution from each other Guarantor equal to its Pro Rata
Portion of such payment or distribution. For purposes of the foregoing, the “Pro Rata
Portion” of any Guarantor means the percentage of net assets of all Guarantors held by such
Guarantor, determined in accordance with GAAP.

     (5) It is the intention of the parties that the obligations of the Guarantors shall be
in, but not in excess of, the maximum amount permitted by applicable law. Accordingly, if
the obligations in respect of the Guarantee would be annulled, avoided or subordinated to
the creditors of any Guarantor by a court of competent jurisdiction in a proceeding actually

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pending before such court as a result of a determination both that such Guarantee was
made without fair consideration and, immediately after giving effect thereto, such Guarantor
was insolvent or unable to pay its debts as they mature or left with an unreasonably small
capital, then the obligations of such Guarantor under such Guarantee shall be reduced by
such court if and to the extent such reduction would result in the avoidance of such
annulment, avoidance or subordination; provided, however, that any reduction pursuant to
this paragraph shall be made in the smallest amount as is strictly necessary to reach such
result. For purposes of this paragraph, “fair consideration,” “insolvency,” “unable to pay
its debts as they mature,” “unreasonably small capital” and the effective times of
reductions, if any, required by this paragraph shall be determined in accordance with
applicable law.

     (6) If the obligations of any Guarantor are reduced pursuant to Section 16.01(4) or
1601(5) above, such reduction shall be applied proportionately with respect to all
Securities (of whatever series) guaranteed under Section 16.01, in accordance with the
respective outstanding principal amount of such Securities so guaranteed (or, if any
Securities are Original Issue Discount Securities, the accreted value of such Securities)
and being then due upon the acceleration of the payment of such Securities.

     (7) A Guarantor may consolidate with, sell, lease or convey all or substantially all of
its assets to, or merge with or into, the Company, a Subsidiary of the Company or another
Guarantor at any time without limitation, provided that, if the successor entity or entity
acquiring the assets is a Subsidiary of the Company or another Guarantor, such entity
expressly or by operation of law assumes all of the obligations of the Guarantor under this
Indenture in connection with the transaction. In any such case, the Guarantor shall be
released from all obligations under this Indenture.

     (8) In addition to the transactions permitted by Section 16.01(7), a Guarantor may
consolidate with, sell, lease or convey all or substantially all of its assets to, or merge
with or into, any other corporation, provided that, in any such case, the Guarantor shall be
the continuing corporation, or the successor corporation or corporation acquiring the assets
shall be a corporation organized and existing under the laws of the United States or a State
thereof and such corporation expressly assumes all of the obligations of the Guarantor under
this Indenture by supplemental indenture complying with Article Nine hereof, satisfactory to
the Trustee, executed and delivered to the Trustee by such corporation. In any such case,
the Guarantor shall be released from all obligations under this Indenture. Any such
consolidation, sale, lease, conveyance or merger is also subject to the condition that the
Trustee receive an Officers’ Certificate of the Guarantor and an Opinion of Counsel to the
effect that the transaction, and the assumption by any successor corporation or acquiror of
assets, complies with the provisions of this Section 16.01(8) and that all conditions
precedent herein provided for relating to such transaction have been complied with.

     (9) Upon a sale, transfer or other disposition of Capital Stock of a Subsidiary
Guarantor by the Company to a Person other than the Company, which disposition (i) is not
subject to Section 16.01(7), Section 16.01(8) or Article Eight, (ii) causes such Guarantor
to no longer be a Subsidiary of the Company, (iii) is for consideration at least equal to
the fair value of the Capital Stock disposed of (in the good faith determination of the
Board of Directors of the Company) and (iv) is otherwise in compliance with the terms of
this Indenture, such Guarantor shall be released from all obligations under this Indenture.
Upon the delivery by the Company to the Trustee of an Officers’ Certificate and, if
requested by the

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Trustee, an Opinion of Counsel to the effect that the transaction or series of related
transactions giving rise to the release of such obligations was made in accordance with the
provisions of this Indenture, the Trustee shall execute any documents reasonably required in
order to evidence the release of such Guarantor from its obligations. Any Guarantor not so
released remains liable for the full amount of principal of and premium, if any, and
interest on, and any Additional Amounts with respect to, the Securities as provided in this
Article Sixteen.

     SECTION 16.02 FUTURE GUARANTORS.

     Each Person providing a guarantee of any Security of a series pursuant to this Indenture shall
execute and deliver a supplemental indenture making such Person a party to this Indenture for the
purpose of becoming a Guarantor.

     SECTION 16.03 DELIVERY OF GUARANTEE.

     The delivery of any Security of a series by the Trustee, after the authentication thereof
hereunder, shall constitute due delivery of the Guarantee set forth in Section 16.01 on behalf of
each Guarantor for that series.

ARTICLE XVII.

SUBORDINATION

     SECTION 17.01 AGREEMENT TO SUBORDINATION.

     The Company covenants and agrees, and each Holder of Securities issued hereunder by its
acceptance thereof likewise covenants and agrees, that all Securities shall be issued subject to
the provisions of this Article; and each Person holding any Security, whether upon original issue
or upon transfer, assignment or exchange thereof, accepts and agrees to be bound by such
provisions.

     The payment of the principal of, and premium, if any, the cash portion of the conversion
obligation, if any, and interest on, all Securities issued hereunder shall, to the extent and in
the manner hereinafter set forth, be subordinated and subject in right of payment to the prior
payment in full, in cash or other payment satisfactory to the holders of Senior Indebtedness, of
all Senior Indebtedness, whether outstanding at the date of this Indenture or thereafter incurred.
The Securities shall rank senior in right of payment to all Subordinated Indebtedness and equal in
right of payment to all other Senior Subordinated Indebtedness.

     No provision of this Article shall prevent the occurrence of any default or Event of Default
hereunder.

     SECTION 17.02 PAYMENTS TO HOLDERS.

     No payment shall be made with respect to the principal of, and premium, if any, the cash
portion of the conversion obligation, if any, or interest on, the Securities except payments and
distributions made by the Trustee as permitted by the first or second paragraph of Section 17.05,
if:

     (1) a default in the payment of principal, premium, interest, rent or other obligations
due on any Designated Senior Indebtedness occurs and is continuing (or, in the case of
Designated Senior Indebtedness for which there is a period of grace, in the event of

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such a default that continues beyond the period of grace, if any, specified in the
instrument or lease evidencing such Designated Senior Indebtedness), unless and until such
default shall have been cured or waived or shall have ceased to exist; or

     (2) a default, other than a payment default, on any Designated Senior Indebtedness
occurs and is continuing that then permits holders of such Designated Senior Indebtedness to
accelerate its maturity and the Trustee receives a notice of the default (a “Payment
Blockage Notice”) from a Representative or holder of such Designated Senior Indebtedness,
unless and until the earlier of (x) the date on which such default is cured or waived or
ceases to exist or (y) 179 days after the date on which the Payment Blockage Notice is
received.

     If the Trustee receives any Payment Blockage Notice pursuant to clause (2) above, no
subsequent Payment Blockage Notice shall be effective for purposes of this Section unless and until
at least 365 days shall have elapsed since the initial effectiveness of the immediately prior
Payment Blockage Notice and all scheduled payments on the Securities that have come due have been
paid in full in cash. No nonpayment default that existed or was continuing on the date of delivery
of any Payment Blockage Notice to the Trustee (unless such default was waived, cured or otherwise
ceased to exist and thereafter subsequently reoccurred) shall be, or be made, the basis for a
subsequent Payment Blockage Notice.

     The Company may and shall resume payments on and distributions in respect of the Securities
upon the earlier of:

     (a) in the case of a default referred to in clause (1) above, the date upon which the default
is cured or waived or ceases to exist, or

     (b) in the case of a default referred to in clause (2) above, the earlier of the date on which
such default is cured or waived or ceases to exist or 179 days after the date on which the
applicable Payment Blockage Notice is received, if the maturity of such Designated Senior
Indebtedness has not been accelerated, unless this Article otherwise prohibits the payment or
distribution at the time of such payment or distribution.

     Upon any payment by the Company, or distribution of assets of the Company of any kind or
character, whether in cash, property or securities, to creditors upon any dissolution or winding-up
or liquidation or reorganization of the Company (whether voluntary or involuntary) or in
bankruptcy, insolvency, receivership or similar proceedings, all amounts due or to become due upon
all Senior Indebtedness shall first be paid in full, in cash or other payment satisfactory to the
holders of Senior Indebtedness, before any payment is made on account of the principal of, and
premium, if any, the cash portion of the conversion obligation, if any, or interest on, the
Securities (except payments made pursuant to Article Four from monies deposited with the Trustee
pursuant thereto prior to commencement of proceedings for such dissolution, winding-up, liquidation
or reorganization); and upon any such dissolution or winding-up or liquidation or reorganization of
the Company or bankruptcy, insolvency, receivership or other proceeding, any payment by the
Company, or distribution of assets of the Company of any kind or character, whether in cash,
property or securities, to which the Holders of the Securities or the Trustee would be entitled,
except for the provision of this Article, shall (except as aforesaid) be paid by the Company or by
any receiver, trustee in bankruptcy, liquidating trustee, agent or other Person making such payment
or distribution, or by the Holders of the Securities or by the Trustee under this Indenture, if
received by them or it,

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directly to the holders of Senior Indebtedness (pro rata to such holders on the basis of the
respective amounts of Senior Indebtedness held by such holders, or as otherwise required by law or
a court order) or their Representative or Representatives, or to the trustee or trustees under any
indenture pursuant to which any instruments evidencing any Senior Indebtedness may have been
issued, as their respective interests may appear, to the extent necessary to pay all Senior
Indebtedness in full, in cash or other payment satisfactory to the holders of Senior Indebtedness,
after giving effect to any concurrent payment or distribution to or for the holders of Senior
Indebtedness, before any payment or distribution is made to the Holders of the Securities or to the
Trustee.

     For purposes of this Article, the words, “cash, property or securities” shall not be deemed to
include shares of Capital Stock of the Company, as reorganized or readjusted, or securities of the
Company or any other corporation provided for by a plan of reorganization or readjustment, the
payment of which is subordinated at least to the extent provided in this Article with respect to
the Securities to the payment of all Senior Indebtedness which may at the time be outstanding;
provided, however, that (i) the Senior Indebtedness is assumed by the new corporation, if any,
resulting from any reorganization or readjustment and (ii) the rights of the holders of Senior
Indebtedness (other than leases which are not assumed by the Company or the new corporation, as the
case may be) are not, without the consent of such holders, altered by such reorganization or
readjustment. The consolidation of the Company with, or the merger of the Company into, another
corporation or the liquidation or dissolution of the Company following the conveyance, transfer or
lease of its property as an entirety, or substantially as an entirety, to another corporation upon
the terms and conditions provided for in Article Eight shall not be deemed a dissolution,
winding-up, liquidation or reorganization for the purposes of this Section 17.02 if such other
corporation shall, as a part of such consolidation, merger, conveyance, transfer or lease, comply
with the conditions stated in Article Eight.

     In the event of the acceleration of the Securities because of an Event of Default, no payment
or distribution shall be made to the Trustee or any Holder of Securities in respect of the
principal of, and premium, if any, the cash portion of the conversion obligation, if any, or
interest on, the Securities by the Company until all Senior Indebtedness has been paid in full in
cash or other payment satisfactory to the holders of Senior Indebtedness or such acceleration is
rescinded in accordance with the terms of this Indenture. If payment of Securities is accelerated
because of an Event of Default, the Company shall promptly notify holders of Senior Indebtedness of
such acceleration.

     In the event that, notwithstanding the foregoing provisions, any payment or distribution of
assets of the Company of any kind or character, whether in cash, property or securities (including,
without limitation, by way of setoff or otherwise), prohibited by the foregoing, shall be received
by the Trustee or the Holders of the Securities before all Senior Indebtedness is paid in full, in
cash or other payment satisfactory to the holders of Senior Indebtedness, or provision is made for
such payment thereof in accordance with its terms in cash or other payment satisfactory to the
holders of Senior Indebtedness, such payment or distribution shall be held in trust for the benefit
of and shall be paid over or delivered to the holders of Senior Indebtedness or their
Representative or Representatives, or to the trustee or trustees under any indenture pursuant to
which any instruments evidencing any Senior Indebtedness may have been issued, as their respective
interests may appear, as calculated by the Company, for application to the payment of all Senior
Indebtedness remaining unpaid to the extent necessary to pay all Senior Indebtedness in full, in
cash or other payment satisfactory to the holders of Senior Indebtedness, after giving effect to
any concurrent payment or distribution to or for the holders of such Senior Indebtedness.

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     SECTION 17.03 SUBROGATION OF SECURITIES.

     Subject to the payment in full, in cash or other payment satisfactory to the holders of Senior
Indebtedness, of all Senior Indebtedness, the rights of the Holders of the Securities shall be
subrogated to the extent of the payments or distributions made to the holders of such Senior
Indebtedness pursuant to the provisions of this Article (equally and ratably with the holders of
all indebtedness of the Company which by its express terms is subordinated to other indebtedness of
the Company to substantially the same extent as the Securities are subordinated and is entitled to
like rights of subrogation) to the rights of the holders of Senior Indebtedness to receive payments
or distributions of cash, property or securities of the Company applicable to the Senior
Indebtedness until the principal of, and premium, if any, the cash portion of the conversion
obligation, if any, and interest on, the Securities shall be paid in full, in cash or other payment
satisfactory to the holders of Senior Indebtedness; and, for the purposes of such subrogation, no
payments or distributions to the holders of the Senior Indebtedness of any cash, property or
securities to which the Holders of the Securities or the Trustee would be entitled except for the
provisions of this Article, and no payment over, pursuant to the provisions of this Article, to or
for the benefit of the holders of Senior Indebtedness by Holders of the Securities or the Trustee
shall, as between the Company, its creditors other than holders of Senior Indebtedness and the
Holders of the Securities, be deemed to be a payment by the Company to or on account of the Senior
Indebtedness; and no payments or distributions of cash, property or securities to or for the
benefit of the Holders of the Securities pursuant to the subrogation provisions of this Article,
which would otherwise have been paid to the holders of Senior Indebtedness, shall be deemed to be a
payment by the Company to or for the account of the Securities. It is understood that the
provisions of this Article are and are intended solely for the purposes of defining the relative
rights of the Holders of the Securities, on the one hand, and the holders of the Senior
Indebtedness, on the other hand.

     Nothing contained in this Article or elsewhere in this Indenture or in the Securities is
intended to or shall impair, as among the Company, its creditors other than the holders of Senior
Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute
and unconditional, to pay to the Holders of the Securities the principal of, and premium, if any,
the cash portion of the conversion obligation, if any, and any interest on the Securities as and
when the same shall become due and payable in accordance with their terms, or is intended to or
shall affect the relative rights of the Holders of the Securities and creditors of the Company
other than the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the
Trustee or the Holder of any Security from exercising all remedies otherwise permitted by
applicable law upon default under this Indenture, subject to the rights, if any, under this Article
of the holders of Senior Indebtedness in respect of cash, property or securities of the Company
received upon the exercise of any such remedy.

     Upon any payment or distribution of assets of the Company referred to in this Article, the
Trustee and the Holders of the Securities shall be entitled to rely upon any order or decree made
by any court of competent jurisdiction in which such bankruptcy, dissolution, winding-up,
liquidation or reorganization proceedings are pending, or a certificate of the receiver, trustee in
bankruptcy, liquidating trustee, agent or other person making such payment or distribution,
delivered to the Trustee or to the Holders of the Securities, for the purpose of ascertaining the
persons entitled to participate in such distribution, the holders of the Senior Indebtedness and
other indebtedness of the Company, the amount thereof or payable thereon and all other facts
pertinent thereto or to this Article.

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     SECTION 17.04 AUTHORIZATION OF EFFECT SUBORDINATION.

     Each Holder of a Security by the Holder’s acceptance thereof authorizes and directs the
Trustee on the Holder’s behalf to take such action as may be necessary or appropriate to effectuate
the subordination as provided in this Article and appoints the Trustee to act as the Holder’s
attorney-in-fact for any and all such purposes.

     SECTION 17.05 NOTICE TO TRUSTEE.

     The Company shall give prompt written notice in the form of an Officers’ Certificate to a
Responsible Officer of the Trustee and to any Paying Agent of any fact known to the Company which
would prohibit the making of any payment of monies to or by the Trustee or any Paying Agent in
respect of the Securities pursuant to the provisions of this Article. Notwithstanding the
provisions of this Article or any other provision of this Indenture, the Trustee shall not be
charged with knowledge of the existence of any facts which would prohibit the making of any payment
of monies to or by the Trustee in respect of the Securities pursuant to the provisions of this
Article, unless and until a Responsible Officer of the Trustee shall have received written notice
thereof at the Corporate Trust Office from the Company (in the form of an Officers’ Certificate) or
a Representative or a holder or holders of Senior Indebtedness or from any trustee thereof; and
before the receipt of any such written notice, the Trustee shall be entitled in all respects to
assume that no such facts exist; provided, however, that, if on a date not less than one Business
Day prior to the date upon which by the terms hereof any such monies may become payable for any
purpose (including, without limitation, the payment of the principal of, or premium, if any, or
interest on, any Security) the Trustee shall not have received, with respect to such monies, the
notice provided for in this Section 17.05, then, anything herein contained to the contrary
notwithstanding, the Trustee shall have full power and authority to receive such monies and to
apply the same to the purpose for which they were received and shall not be affected by any notice
to the contrary which may be received by it on or after such prior date. Notwithstanding anything
in this Article to the contrary, nothing shall prevent any payment by the Trustee to the Holders of
monies deposited with it pursuant to Article Four, and any such payment shall not be subject to the
provisions of this Article.

     The Trustee shall be entitled to rely on the delivery to it of a written notice by a
Representative or a person representing himself to be a holder of Senior Indebtedness (or a trustee
on behalf of such holder) to establish that such notice has been given by a Representative or a
holder of Senior Indebtedness or a trustee on behalf of any such holder or holders. In the event
that the Trustee determines in good faith that further evidence is required with respect to the
right of any person as a holder of Senior Indebtedness to participate in any payment or
distribution pursuant to this Article, the Trustee may request such Person to furnish evidence to
the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness held by such
Person, the extent to which such Person is entitled to participate in such payment or distribution
and any other facts pertinent to the rights of such Person under this Article, and if such evidence
is not furnished the Trustee may defer any payment to such Person pending judicial determination as
to the right of such Person to receive such payment.

     SECTION 17.06 TRUSTEE’S RELATION TO SENIOR INDEBTEDNESS.

     The Trustee in its individual capacity shall be entitled to all the rights set forth in this
Article in respect of any Senior Indebtedness at any time held by it, to the same extent as any
other holder of Senior Indebtedness, and nothing in this Indenture shall deprive the Trustee of any
of its rights as

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such holder.

     With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to
observe only such of its covenants and obligations as are specifically set forth in this Article,
and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be
read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary
duty to the holders of Senior Indebtedness, and, except with respect to its express obligations
under this Article, the Trustee shall not be liable to any holder of Senior Indebtedness if it
shall pay over or deliver to Holders of Securities, the Company or any other person money or assets
to which any holder of Senior Indebtedness shall be entitled by virtue of this Article or
otherwise.

     SECTION 17.07 NO IMPAIRMENT OF SUBORDINATION.

     No right of any present or future holder of any Senior Indebtedness to enforce subordination
as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to
act on the part of the Company or by any act or failure to act, in good faith, by any such holder
or by any noncompliance by the Company with the terms, provisions and covenants of this Indenture,
regardless of any knowledge thereof which any such holder may have or otherwise be charged with.

     SECTION 17.08 CERTAIN CONVERSIONS DEEMED PAYMENT.

     For the purposes of this Article only, (1) the issuance and delivery of junior securities upon
conversion of Securities in accordance herewith shall not be deemed to constitute a payment or
distribution on account of the principal of, or premium, if any, the cash portion of the conversion
obligation, if any, or interest on, Securities or on account of the purchase or other acquisition
of Securities, and (2) the payment, issuance or delivery of cash (except in satisfaction of
fractional shares), property or securities (other than junior securities) upon conversion of a
Security shall be deemed to constitute payment on account of the principal of such Security. For
the purposes of this Section 17.08, the term “junior securities” means (a) shares of any Capital
Stock of any class of the Company or (b) securities of the Company which are subordinated in right
of payment to all Senior Indebtedness which may be outstanding at the time of issuance or delivery
of such securities to substantially the same extent as, or to a greater extent than, the Securities
are so subordinated as provided in this Article. Nothing contained in this Article or elsewhere in
this Indenture or in the Securities is intended to or shall impair, as among the Company, its
creditors other than holders of Senior Indebtedness and the Holders, any right of the Holder of any
Security to convert such Security in accordance herewith, which shall be absolute and
unconditional.

     SECTION 17.09 ARTICLE APPLICABLE TO PAYING AGENTS.

     If at any time any Paying Agent other than the Trustee shall have been appointed by the
Company and be then acting hereunder, the term “Trustee” as used in this Article shall (unless the
context otherwise requires) be construed as extending to and including such Paying Agent within its
meaning as fully for all intents and purposes as if such Paying Agent were named in this Article in
addition to or in place of the Trustee; provided, however, that the first paragraph of Section
17.05 shall not apply to the Company or any Affiliate of the Company if it or such Affiliate acts
as Paying Agent.

     SECTION 17.10 SENIOR INDEBTEDNESS ENTITLED TO RELY.

     The holders of Senior Indebtedness (including, without limitation, Designated Senior

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Indebtedness) shall have the right to rely upon this Article, and no amendment or modification
of the provisions contained herein shall diminish the rights of such holders unless such holders
shall have agreed in writing thereto.

     SECTION 17.11 ANTI-LAYERING.

     The Company shall not incur, directly or indirectly, or otherwise become liable for any
Indebtedness which is subordinated or junior in right or payment to any Senior Indebtedness unless
such Indebtedness is Senior Subordinated Indebtedness or is Subordinated Indebtedness, provided;
however, that nothing in this Section 17.11 shall limit the Company’s ability to incur Senior
Indebtedness.

     The Trustee has no fiduciary duty to the holders of Senior Indebtedness other than as created
under this Indenture. The Trustee in its individual or any other capacity may hold Senior
Indebtedness with the same rights it would have if it were not Trustee.

     The Company’s obligation to pay, and the Company’s payment of, the Trustee’s fees pursuant to
Section 6.06 are excluded from the operation of this Article Seventeen.

* * * * *

     This Indenture may be executed in any number of counterparts, each of which so executed shall
be deemed to be an original, but all such counterparts shall together constitute but one and the
same Indenture.

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

	 	 	 	 	 
	 	AMERICAN PUBLIC EDUCATION, INC.

 	 
	 	By: 	 	 
	 	 	Name: 	 	 
	 	 	Title: 	 	 
	 
	 	[NAME OF TRUSTEE]

as Trustee

 	 
	 	By: 	 	 
	 	 	Attest: 	 	 
	 	 	Title: 	 	 
	 	 	 	 	 

 

 

	 	 	 	 	 

EXHIBIT A

FORMS OF CERTIFICATION

 

 

EXHIBIT A-1

FORM OF CERTIFICATE TO BE GIVEN BY PERSON ENTITLED

TO RECEIVE BEARER SECURITY OR TO OBTAIN INTEREST

PAYABLE PRIOR TO THE EXCHANGE DATE

CERTIFICATE

[Insert title or sufficient description of Securities to be delivered]

To: [Euroclear] [Clearstream]

From: [Beneficial Holder]

     This is to certify that, as of the date hereof, and except as set forth below, the
above-captioned Securities held by you for our account (i) are owned by person(s) that are not
citizens or residents of the United States, domestic partnerships, domestic corporations or any
estate or trust the income of which is subject to United States federal income taxation regardless
of its source (“United States person(s)”), (ii) are owned by United States person(s) that are (a)
foreign branches of United States financial institutions (financial institutions, as defined in
United States Treasury Regulations Section 2.165-12(c)(1)(v) are herein referred to as “financial
institutions”) purchasing for their own account or for resale, or (b) United States person(s) who
acquired the Securities through foreign branches of United States financial institutions and who
hold the Securities through such United States financial institutions on the date hereof (and in
either case (a) or (b), each such United States financial institution hereby agrees, on its own
behalf or through its agent, that you may advise American Public Education, Inc. (the “Company”) or
its agent that such financial institution will comply with the requirements of Section
165(j)(3)(A), (B) or (C) of the United States Internal Revenue Code of 1986, as amended, and the
regulations thereunder), or (iii) are owned by United States or foreign financial institution(s)
for purposes of resale during the restricted period (as defined in United States Treasury
Regulations Section 1.163-5(c)(2)(i)(D)(7)), and, in addition, if the owner is a United States or
foreign financial institution described in clause (iii) above (whether or not also described in
clause (i) or (ii)), this is to further certify that such financial institution has not acquired
the Securities for purposes of resale directly or indirectly to a United States person or to a
person within the United States or its possessions.

     As used herein, “United States” means the United States of America (including the States and
the District of Columbia); and its “possessions” include Puerto Rico, the U.S. Virgin Islands,
Guam, American Samoa, Wake Island and the Northern Mariana Islands.

     We undertake to advise you promptly by tested telex on or prior to the date on which you
intend to submit your certification relating to the above-captioned Securities held by you for our
account in accordance with your operating procedures if any applicable statement herein is not
correct on such date, and in the absence of any such notification it may be assumed that this
certification applies as of such date.

     This certificate excepts and does not relate to [U.S.$] __________ of such interest in the
above-captioned Securities in respect of which we are not able to certify and as to which we

 

 

understand an exchange for an interest in a permanent global Security or an exchange for and
delivery of definitive Securities (or, if relevant, collection of any interest) cannot be made
until we do so certify.

     We understand that this certificate may be required in connection with certain tax legislation
in the United States. If administrative or legal proceedings are commenced or threatened in
connection with which this certificate is or would be relevant, we irrevocably authorize you to
produce this certificate or a copy thereof to any interested party in such proceedings.

     This certificate may be relied upon by you and each of the Company, [Name of Trustee], as
trustee under the Indenture dated as of __________ ___, 20___ between [Name of Trustee], as
trustee, and the Company (the “Indenture”) and any Paying Agent (as defined in the Indenture).

     Dated: __________ ___, 20___

     [To be dated no earlier than the 15th day prior to (i) the Exchange Date or (ii) the relevant
Interest Payment Date occurring prior to the Exchange Date, as applicable]

	 	 	 	 	 
	 	[Name of Person Making Certification]
 	 
	 
	 	
 	 
	 	(Authorized Signator) 	 
	 
	 	Title:  	 	 
	 	
 	 
	 
	 	Name:  	 	 
	 	
 	 

 

 

	 	 	 	 	 

EXHIBIT A-2

FORM OF CERTIFICATE TO BE GIVEN BY EUROCLEAR AND CLEARSTREAM IN

CONNECTION WITH THE EXCHANGE OF A PORTION OF A TEMPORARY

GLOBAL SECURITY OR TO OBTAIN INTEREST PAYABLE PRIOR TO THE

EXCHANGE DATE

CERTIFICATE

[Insert title or sufficient description of Securities to be delivered]

To: [Name of Trustee], as trustee (the “Trustee”) under the Indenture dated as of __________ ___,
20__ by and between the Company (as defined below) and the Trustee.

From: [Euroclear] [Clearstream]

     This is to certify that, based solely on written certifications that we have received in
writing, by tested telex or by electronic transmission from each of the persons appearing in our
records as persons entitled to a portion of the principal amount set forth below (our “Member
Organizations”) substantially in the form attached hereto, as of the date hereof, [U.S.$] principal
amount of the above-captioned Securities (i) is owned by person(s) that are not citizens or
residents of the United States, domestic partnerships, domestic corporations or any estate or trust
the income of which is subject to United States Federal income taxation regardless of its source
(“United States person(s)”), (ii) is owned by United States person(s) that are (a) foreign branches
of United States financial institutions (financial institutions, as defined in U.S. Treasury
Regulations Section 1.165-12(c)(1)(v) are herein referred to as “financial institutions”)
purchasing for their own account or for resale, or (b) United States person(s) who acquired the
Securities through foreign branches of United States financial institutions and who hold the
Securities through such United States financial institutions on the date hereof (and in either case
(a) or (b), each such financial institution has agreed, on its own behalf or through its agent,
that we may advise American Public Education, Inc. (the “Company”) or its agent that such financial
institution will comply with the requirements of Section 165(j)(3)(A), (B) or (C) of the Internal
Revenue Code of 1986, as amended, and the regulations thereunder), or (iii) is owned by United
States or foreign financial institution(s) for purposes of resale during the restricted period (as
defined in United States Treasury Regulations Section 1.163-5(c)(2)(i)(D)(7)), and, to the further
effect, that financial institutions described in clause (iii) above (whether or not also described
in clause (i) or (ii)) have certified that they have not acquired the Securities for purposes of
resale directly or indirectly to a United States person or to a person within the United States or
its possessions.

     As used herein, “United States” means the United States of America (including the States and
the District of Columbia); and its “possessions” include Puerto Rico, the U.S. Virgin Islands,
Guam, American Samoa, Wake Island and the Northern Mariana Islands.

     We further certify that (i) we are not making available herewith for exchange (or, if
relevant, collection of any interest) any portion of the temporary global Security representing the
above-captioned Securities excepted in the above-referenced certificates of Member

 

 

     Organizations and (ii) as of the date hereof we have not received any notification from any of
our Member Organizations to the effect that the statements made by such Member Organizations with
respect to any portion of the part submitted herewith for exchange (or, if relevant, collection of
any interest) are no longer true and cannot be relied upon as of the date hereof.

     We understand that this certification is required in connection with certain tax legislation
in the United States. If administrative or legal proceedings are commenced or threatened in
connection with which this certificate is or would be relevant, we irrevocably authorize you to
produce this certificate or a copy thereof to any interested party in such proceedings.

     This certificate may be relied upon by you and by the Company. Dated: __________, 20__

     [To be dated no earlier than the Exchange Date or the relevant Interest Payment Date occurring
prior to the Exchange Date, as applicable]

     [Morgan Guaranty Trust Company of New York, Brussels Office,] as Operator of the Euroclear
System] [Clearstream Banking, societe anonyme, Luxembourg]

	 	 	 	 	 
	 	 	 
	 	By:exv10w1

Exhibit 10.1

EXECUTION VERSION

 

 

Published CUSIP Number: [                    ]

AMENDED AND RESTATED

CREDIT AGREEMENT

Dated as of February 8, 2008

among

AVERY DENNISON OFFICE PRODUCTS COMPANY,

as the Borrower,

AVERY DENNISON CORPORATION,

as Holdings,

BANK OF AMERICA, N.A.,

as Administrative Agent,

The Other Lenders Party Hereto,

and

BANC OF AMERICA SECURITIES LLC,

and

J.P. MORGAN SECURITIES INC.,

as  Joint Lead Arrangers.

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	Section
	 	Page
	 
	Article I DEFINITIONS AND ACCOUNTING TERMS
	 	 	1	 
	1.01 Defined Terms
	 	 	1	 
	1.02 Other Interpretive Provisions
	 	 	13	 
	1.03 Accounting Terms
	 	 	14	 
	1.04 Rounding
	 	 	14	 
	1.05 Times of Day
	 	 	14	 
	Article II THE COMMITMENTS AND LOANS
	 	 	15	 
	2.01 The Loans
	 	 	15	 
	2.02 The Making, Conversions and Continuations of Loans
	 	 	15	 
	2.03 Optional Prepayments
	 	 	16	 
	2.04 Reduction of Commitments
	 	 	17	 
	2.05 Repayment of Loans
	 	 	17	 
	2.06 Interest
	 	 	17	 
	2.07 Fees
	 	 	17	 
	2.08 Computation of Interest and Fees
	 	 	18	 
	2.09 Evidence of Debt
	 	 	18	 
	2.10 Payments Generally; Administrative Agent’s Clawback
	 	 	18	 
	2.11 Sharing of Payments by Lenders
	 	 	20	 
	2.12 Payments by Holdings
	 	 	21	 
	Article III TAXES, YIELD PROTECTION AND ILLEGALITY
	 	 	21	 
	3.01 Taxes
	 	 	21	 
	3.02 Illegality
	 	 	23	 
	3.03 Inability to Determine Rates
	 	 	23	 
	3.04 Increased Costs
	 	 	24	 
	3.05 Compensation for Losses
	 	 	25	 
	3.06 Mitigation Obligations; Replacement of Lenders
	 	 	26	 
	3.07 Survival
	 	 	26	 
	Article IV CONDITIONS PRECEDENT TO THE LOANS
	 	 	26	 
	4.01 Conditions to the Loans
	 	 	26	 
	Article V REPRESENTATIONS AND WARRANTIES
	 	 	28	 

i

 

	 	 	 	 	 
	Section
	 	Page
	 
	5.01 Existence and Qualification; Power; Compliance with Law
	 	 	28	 
	5.02 Authority; Compliance with Other Instruments and Government Regulations
	 	 	29	 
	5.03 No Governmental Approvals Required
	 	 	29	 
	5.04 Subsidiaries
	 	 	29	 
	5.05  Financial Statements
	 	 	30	 
	5.06 No Material Adverse Change or Other Liabilities
	 	 	30	 
	5.07 Title to Assets
	 	 	30	 
	5.08 Regulated Industries
	 	 	30	 
	5.09 Litigation
	 	 	30	 
	5.10 Binding Obligations
	 	 	31	 
	5.11 No Default
	 	 	31	 
	5.12 ERISA
	 	 	31	 
	5.13 Regulation U
	 	 	31	 
	5.14 Tax Liability
	 	 	31	 
	5.15 Copyrights, Patents, Trademarks and Licenses, etc.
	 	 	32	 
	5.16 Environmental Matters
	 	 	32	 
	5.17 Insurance
	 	 	32	 
	5.18 Disclosure
	 	 	32	 
	Article VI AFFIRMATIVE COVENANTS
	 	 	32	 
	6.01 Financial and Business Information
	 	 	32	 
	6.02 Certificates; Other Information
	 	 	33	 
	6.03 Notices
	 	 	33	 
	6.04 Payment of Taxes and Other Potential Liens
	 	 	34	 
	6.05 Preservation of Existence
	 	 	35	 
	6.06 Maintenance of Properties
	 	 	35	 
	6.07 Maintenance of Insurance
	 	 	35	 
	6.08 Compliance with Laws
	 	 	35	 
	6.09 Inspection Rights
	 	 	35	 
	6.10 Keeping of Records and Books of Account
	 	 	36	 
	6.11 ERISA Compliance
	 	 	36	 
	6.12 Environmental Laws
	 	 	36	 
	6.13 Use of Proceeds
	 	 	36	 

ii

 

	 	 	 	 	 
	Section
	 	Page
	 
	6.14 Termination of the Existing Credit Agreement
	 	 	36	 
	6.15 Assumption of the Obligations by Holdings
	 	 	36	 
	Article VII NEGATIVE COVENANTS
	 	 	37	 
	7.01 Type of Business
	 	 	37	 
	7.02 Liens
	 	 	37	 
	7.03 Investments
	 	 	38	 
	7.04 Contingent Obligations
	 	 	38	 
	7.05 Subordinated Debt
	 	 	38	 
	7.06 Sale of Assets or Merger
	 	 	38	 
	7.07 Financial Covenants
	 	 	38	 
	7.08 Use of Proceeds
	 	 	38	 
	Article VIII EVENTS OF DEFAULT AND REMEDIES
	 	 	39	 
	8.01 Events of Default
	 	 	39	 
	8.02 Remedies upon Event of Default
	 	 	40	 
	Article IX ADMINISTRATIVE AGENT
	 	 	41	 
	9.01 Appointment and Authority
	 	 	41	 
	9.02 Rights as a Lender
	 	 	41	 
	9.03 Exculpatory Provisions
	 	 	41	 
	9.04 Reliance by Administrative Agent
	 	 	42	 
	9.05 Delegation of Duties
	 	 	42	 
	9.06 Resignation of Administrative Agent
	 	 	43	 
	9.07 Non-Reliance on Administrative Agent and Other Lenders
	 	 	43	 
	9.08 No Other Duties, Etc
	 	 	43	 
	9.09 Administrative Agent May File Proofs of Claim
	 	 	44	 
	Article X CONTINUING GUARANTY
	 	 	44	 
	10.01 Guaranty
	 	 	44	 
	10.02 Rights of Lenders
	 	 	45	 
	10.03 Certain Waivers
	 	 	45	 
	10.04 Obligations Independent
	 	 	45	 
	10.05 Subrogation
	 	 	45	 
	10.06 Termination; Reinstatement
	 	 	46	 
	10.07 Subordination
	 	 	46	 
	10.08 Stay of Acceleration
	 	 	46	 

iii

 

	 	 	 	 	 
	Section
	 	Page
	 
	10.09 Condition of the Borrower
	 	 	46	 
	Article XI MISCELLANEOUS
	 	 	47	 
	11.01 Amendments, etc.
	 	 	47	 
	11.02 Notices; Effectiveness; Electronic Communications
	 	 	47	 
	11.03 No Waiver; Cumulative Remedies
	 	 	49	 
	11.04 Expenses; Indemnity; Damage Waiver
	 	 	49	 
	11.05 Payments Set Aside
	 	 	51	 
	11.06 Successors and Assigns
	 	 	51	 
	11.07 Treatment of Certain Information; Confidentiality
	 	 	54	 
	11.08 Right of Setoff
	 	 	55	 
	11.09 Interest Rate Limitation
	 	 	55	 
	11.10 Counterparts; Integration; Effectiveness
	 	 	55	 
	11.11 Survival of Representations and Warranties
	 	 	55	 
	11.12 Severability
	 	 	56	 
	11.13 Replacement of Lenders
	 	 	56	 
	11.14 Governing Law; Jurisdiction; etc.
	 	 	57	 
	11.15 Waiver of Jury Trial
	 	 	57	 
	11.16 California Judicial Reference
	 	 	58	 
	11.17 No Advisory or Fiduciary Responsibility
	 	 	58	 
	11.18 USA PATRIOT Act Notice
	 	 	59	 
	SIGNATURES
	 	 	S-1	 

iv

 

	 	 	 	 	 
	Schedules
	 	 	 
	 
	 	 	 	 
	2.01
	Commitments and Applicable Percentages	 	 	 
	5.04 
	Subsidiaries	 	 	 
	5.09 
	Litigation	 	 	 
	11.02 
	Administrative Agent’s Office, Certain Addresses for Notices	 	 	 
	 
	 	 	 	 
	Exhibits
	 	 	 	 
	 
	 	 	 
	Form of
	 	 	 
	 
	 	 	 	 
	A
	Committed Loan Notice	 	 	 
	B
	Note	 	 	 
	C
	Compliance Certificate	 	 	 
	D
	Assignment and Assumption	 	 	 
	E-1
	Opinion Matters – Counsel to Loan Parties	 	 	 
	E-2
	Opinion Matters – Local Counsel to Loan Parties	 	 	 

v

 

CREDIT AGREEMENT

     This CREDIT AGREEMENT (“Agreement”) is entered into as of February 8, 2008, among
AVERY DENNISON OFFICE PRODUCTS COMPANY, a Nevada corporation (the “Borrower”), AVERY
DENNISON CORPORATION, a Delaware corporation (“Holdings”), each lender from time to time
party hereto (collectively, the “Lenders” and individually, a “Lender”), and BANK
OF AMERICA, N.A., as Administrative Agent (the “Administrative Agent”).

PRELIMINARY
STATEMENTS:

     The Borrower has requested that the Lenders provide a term loan facility and the Lenders have
indicated their willingness to lend on the terms and subject to the conditions set forth herein.

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

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

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

     “Acquisition” means any transaction, or any series of related transactions,
consummated after the Closing Date, by which Holdings and/or any of its Subsidiaries directly or
indirectly (a) acquires any going business or all or substantially all of the assets of any firm,
corporation, or division thereof, whether through purchase of assets, merger or otherwise or (b)
acquires (in one transaction or as the most recent transaction in a series of transactions) control
of at least a majority in ordinary voting power of the securities of a corporation which have
ordinary voting power for the election of directors or (c) acquires control of at least a majority
ownership interest in any partnership or joint venture.

     “Administrative Agent” has the meaning specified in the introductory paragraph hereto
and also means any successor administrative agent appointed pursuant to Section 9.06.

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

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

     “Affiliate” means, with respect to any 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.

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

 

 

     “Agreement” means this Credit Agreement.

     “Applicable Percentage” means with respect to any Lender at any time, the percentage
(carried out to the ninth decimal place) of the Loans represented by (i) on or prior to the Closing
Date, such Lender’s Commitment at such time and (ii) thereafter, the principal amount of such
Lender’s Loans at such time. The initial Applicable Percentage of each Lender in respect of the
Loans is set forth opposite the name of such Lender on Schedule 2.01 or in the Assignment
and Assumption pursuant to which such Lender becomes a party hereto, as applicable.

     “Applicable Rate” means, in respect of the Loans, from time to time, the following
percentages per annum, based upon the Debt Rating as set forth below:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Applicable Rate
	 	 	 	 	 	 	 	 	 	 	Applicable
	 	 	 	 	 	 	Applicable	 	Margin for
	Pricing	 	Debt Ratings	 	Margin for	 	Base Rate
	Level	 	S&P/Moody’s	 	LIBOR Loans	 	Loans
	1
	 	A+/A1 or better	 	 	0.300	%	 	 	0.000	%
	2
	 	 	A/A2	 	 	 	0.350	%	 	 	0.000	%
	3
	 	 	A-/A3	 	 	 	0.450	%	 	 	0.000	%
	4
	 	BBB+/Baa1	 	 	0.550	%	 	 	0.000	%
	5
	 	BBB/Baa2 or lower	 	 	0.850	%	 	 	0.000	%

“Debt Rating” means, as of any date of determination, the rating as determined by
either S&P or Moody’s (collectively, the “Debt Ratings”) of Holdings’
non-credit-enhanced, senior unsecured long-term debt; provided that (a) if the
respective Debt Ratings issued by the foregoing rating agencies differ by one level, then
the Pricing Level for the higher of such Debt Ratings shall apply (with the Debt Rating for
Pricing Level 1 being the highest and the Debt Rating for Pricing Level 5 being the lowest);
(b) if there is a split in Debt Ratings of more than one level, then the Pricing Level that
is one level lower than the Pricing Level of the higher Debt Rating shall apply; (c) if
Holdings has only one Debt Rating, the Pricing Level that is one level lower than that of
such Debt Rating shall apply; and (d) if Holdings does not have any Debt Rating, Pricing
Level 5 shall apply.

     Initially, the Applicable Rate shall be based upon the Debt Rating in effect as of the Closing
Date. Thereafter, each change in the Applicable Rate resulting from a publicly announced change in
the Debt Rating shall be effective during the period commencing on the date of the public
announcement thereof and ending on the date immediately preceding the effective date of the next
such change.

     “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.

2

 

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

     “Audited Financial Statements” means the audited consolidated balance sheet of
Holdings and its Subsidiaries for the fiscal year ended December 30, 2006, and the related
consolidated statements of income or operations, shareholders’ equity and cash flows for such
fiscal year of Holdings and its Subsidiaries, including the notes thereto.

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

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

     “Base Rate Loan” means a Loan that bears interest based on the Base Rate.

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

     “Business Day” means any day other than a Saturday, Sunday or other day on which
commercial banks are authorized to close under the Laws of, or are in fact closed in, the state
where the Administrative Agent’s Office is located and, if such day relates to any Eurodollar Rate
Loan, means any such day on which dealings in Dollar deposits are conducted by and between banks in
the London interbank eurodollar market.

     “Cash Equivalents” means, when used in connection with any Person, such Person’s
Investments in:

     (a) Government Securities due within one year after the date of the making of the
Investment;

     (b) certificates of deposit issued by, bank deposits in, bankers’ acceptances of, and
repurchase agreements covering Government Securities executed by, any Lender or any bank
doing business in and incorporated under the laws of the United States or any state thereof
or Canada and having on the date of such Investment combined capital, surplus, and undivided
profits of at least $500,000,000 in each case due within one year after the date of the
making of the Investment; and

     (c) readily marketable commercial paper of corporations doing business in and
incorporated under the laws of the United States or any state thereof or Canada or any
province thereof given on the date of such Investment the highest credit rating by

3

 

NCO/Moody’s Commercial Paper Division of Moody’s or S&P, in each case due within six
months after the date of the making of the Investment.

     “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 or application
thereof by any Governmental Authority or (c) the making or issuance of any request, guideline or
directive (whether or not having the force of law) by any Governmental Authority.

     “Closing Date” means the first date all the conditions precedent in Section
4.01 are satisfied or waived in accordance with Section 11.01.

     “Code” means the Internal Revenue Code of 1986, as amended.

     “Commitment” means, as to each Lender, its obligation to make Loans to the Borrower
pursuant to Section 2.01 in an aggregate principal amount at any one time outstanding not
to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the
caption “Commitment” or opposite such caption in the Assignment and Assumption pursuant to which
such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time
in accordance with this Agreement. The aggregate amount of the Commitments hereunder is
$400,000,000.

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

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

     “Consolidated Debt” means, as of any date of determination, the Debt of Holdings and
the Consolidated Subsidiaries, determined on a consolidated basis as of such date.

     “Consolidated Earnings Before Interest and Taxes” means, as of any date of
determination, the earnings of Holdings and the Consolidated Subsidiaries for the twelve month
fiscal period most recently ended on or prior to such date before deducting interest expense and
taxes on or measured by income charged against earnings for such period plus non-cash
expenses of Holdings and the Consolidated Subsidiaries reducing such earnings, which do not
represent usage of cash in such period or any future period..

     “Consolidated EBITDA” means, for any period, Consolidated Net Income for such period
plus, to the extent deducted in the determination of such Consolidated Net Income, (a) Consolidated
Interest for such period, (b) the provision for income taxes for such period, (c) depreciation and
amortization expense for such period and (d) non-cash expenses of Holdings and the Consolidated
Subsidiaries reducing such Consolidated Net Income, which do not represent usage of cash in such
period or any future period.

4

 

     “Consolidated Interest” means, as of any date of determination, the interest expense
of Holdings and the Consolidated Subsidiaries for the twelve month fiscal period most recently
ended on or prior to such date.

     “Consolidated Net Income” means, for any period, the consolidated net income of
Holdings and the Consolidated Subsidiaries for such period.

     “Consolidated Net Worth” means, as of any date of determination, the consolidated net
worth of Holdings and the Consolidated Subsidiaries, plus Subordinated Debt in an amount up
to but not exceeding 20% of the consolidated net worth of Holdings and the Consolidated
Subsidiaries (minus any Subordinated Debt carried in the treasury of Holdings and any of its
Subsidiaries); provided that, for purposes of this definition only, any guaranty by
Holdings or any of its Subsidiaries of any Subordinated Debt shall be excluded from the calculation
of Subordinated Debt.

     “Consolidated Subsidiary” means any Subsidiary of Holdings whose financial statements
are consolidated with the financial statements of Holdings in conformity with GAAP.

     “Consolidated Total Tangible Assets” means, as of any date of determination, all
assets of Holdings and the Consolidated Subsidiaries that should be reflected in the asset side of
a consolidated balance sheet of Holdings and the Consolidated Subsidiaries as of such date of
determination, excluding any Intangible Assets.

     “Contingent Obligation” means any guarantee of any obligation of another Person, or
any agreement to become directly or indirectly responsible for an obligation of another Person,
(including, without limitation, any agreement to maintain the net worth or liquidity of another
Person or to purchase any obligation, goods or services of another Person, or otherwise to provide
credit assurances to the holder of an obligation of another Person), or any agreement in the nature
of a guarantee or having the effect of creating responsibility for the obligation of another
Person, except the guarantee or agreement in the nature of a guarantee by Holdings or a
Consolidated Subsidiary of the obligations of a Consolidated Subsidiary.

     “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.

     “Debt” of any Person means at any date, without duplication, (a) all obligations of
such Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures,
notes or other similar instruments, (c) all obligations of such Person to pay the deferred purchase
price of property or services, except trade accounts payable and deferred employee compensation
obligations arising in the ordinary course of business, (d) all obligations of such Person as
lessee which are capitalized in accordance with GAAP, (e) all unpaid reimbursement obligations of
such Person in respect of letters of credit or similar instruments but only to the extent that
either (i) the issuer has honored a drawing thereunder or (ii) payment of such obligation is
otherwise due under the terms thereof, (f) all Debt secured by a Lien on real

5

 

property which is otherwise an obligation of such Person, and (g) all Debt of others in excess
of $1,000,000 guaranteed by such Person.

     “Debt Rating” has the meaning specified in the definition of “Applicable Rate.”

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

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

     “Default Rate” means an interest rate equal to (i) the Base Rate plus (ii) the
Applicable Rate, if any, applicable to Base Rate Loans plus (iii) 2% per annum;
provided, however, that with respect to a Eurodollar Rate Loan, the Default Rate
shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise
applicable to such Loan plus 2% per annum.

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

     “Designated Officer” means the chief executive officer, president, chief financial
officer, treasurer, assistant treasurer or controller of a Loan Party and any other officer of the
applicable Loan Party so designated by any of the foregoing officers in a notice to the
Administrative Agent. Any document delivered hereunder that is signed by a Designated Officer of a
Loan Party shall be conclusively presumed to have been authorized by all necessary corporate,
partnership and/or other action on the part of such Loan Party and such Designated Officer shall be
conclusively presumed to have acted on behalf of such Loan Party.

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

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

     “Eligible Assignee” means, (a) a Lender; (b) an Affiliate of a Lender; (c) an Approved
Fund; and (d) any other Person (other than a natural person) approved by (i) the Administrative
Agent (such approval not to be unreasonably withheld or delayed), and (ii) unless (A) such Person
is taking delivery of an assignment in connection with physical settlement of a credit derivative
transaction or (B) an Event of Default has occurred and is continuing, the Borrower (each such
consent to be within the discretion of the consenting party); provided that notwithstanding
the foregoing, “Eligible Assignee” shall not include the Borrower or any of the Borrower’s
Affiliates or Subsidiaries.

6

 

     “Environmental Claims” means all claims, however asserted, by any Governmental
Authority or other Person alleging potential liability or responsibility for violation of any
Environmental Law, or for release or injury to the environment.

     “Environmental Laws” means all federal, state or local laws, statutes, common law
duties, rules, regulations, ordinances and codes, together with all administrative orders, directed
duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental
Authorities, in each case relating to environmental, health, safety and land use matters.

     “ERISA” means, at any date, the Employee Retirement Income Security Act of 1974 and
the regulations thereunder.

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

     “Eurodollar Rate Loan” means a Loan that bears interest at a rate based on the
Eurodollar Rate.

     “Event of Default” has the meaning specified in Section 8.01.

     “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, or any
other recipient of any payment to be made by or on account of any obligation of the Borrower
hereunder, (a) taxes imposed on or measured by its overall net income (however denominated), and
franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction (or any political
subdivision thereof) under the laws of which such recipient is organized or in which its principal
office is located or, in the case of any Lender, in which its applicable Lending Office is located,
(b) any branch profits taxes imposed by the United States or any similar tax imposed by any other
jurisdiction in which the Borrower is located and (c) in the case of a Foreign Lender (other than
an assignee pursuant to a request by the Borrower under Section 11.13), any withholding tax
that is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a
party hereto (or designates a new Lending Office) or is attributable to such Foreign Lender’s
failure or inability (other than as a result of a Change in Law) to comply with Section
3.01(e), except to the extent that such Foreign Lender (or its assignor, if any) was entitled,
at the time of designation of a new Lending Office

7

 

(or assignment), to receive additional amounts from the Borrower with respect to such withholding
tax pursuant to Section 3.01(a).

     “Existing Credit Agreement” means that certain bridge credit agreement dated as of
June 13, 2007 by and among Holdings, the lenders party thereto, and J.P. Morgan Securities Inc., as
arranger.

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

     “Fee Letters” means, collectively, (i) the letter agreement, dated January 4, 2008,
among the Borrower, the Administrative Agent and Banc of America Securities LLC, and (ii) the
letter agreement, dated January 8, 2008, among the Borrower, JPMorgan Chase Bank, N.A. and J.P.
Morgan Securities Inc., as either letter agreement may be amended, modified, replaced or restated
from time to time.

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

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

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

     “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

8

 

pertaining to government (including any supra-national bodies such as the European Union or
the European Central Bank).

     “Government Securities” means readily marketable direct obligations of the United
States or obligations fully guaranteed by the United States.

     “Guarantied Parties” means, collectively, the Administrative Agent, the Lenders, and
each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to
Section 9.05.

     “Guaranty” means the Guaranty made by Holdings under Article X in favor of the
Guarantied Parties.

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

     “Indemnified Taxes” means Taxes other than Excluded Taxes.

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

     “Information” has the meaning specified in Section 11.07.

     “Intangible Assets” means assets having no physical existence and that, in conformity
with GAAP, should be classified as intangible assets, including without limitation such intangible
assets as patents, trademarks, copyrights, franchises, licenses and goodwill.

     “Interest Payment Date” means, (a) as to any Eurodollar Rate Loan, the last day of
each Interest Period applicable to such Loan and the Maturity Date; provided,
however, that if any Interest Period for a Eurodollar Rate Loan exceeds three months, the
respective dates that fall every three months after the beginning of such Interest Period shall
also be Interest Payment Dates; and (b) as to any Base Rate Loan, the first Business Day of each
April, July, October and January and the Maturity Date.

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

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

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

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

9

 

     “IRS” means the United States Internal Revenue Service.

     “Investment” means, when used in connection with any Person, any investment by such
Person, whether by means of purchase or other acquisition of stock or other securities or by means
of loan, advance, capital contribution, guarantee, or other debt or equity participation or
interest in any other Person.

     “Joint Lead Arrangers” means, collectively, Banc of America Securities LLC and J.P.
Morgan Securities Inc. in their capacities as joint lead arrangers.

     “Laws” means, collectively, all international, foreign, Federal, state and local
statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or
judicial precedents or authorities, including the interpretation or administration thereof by any
Governmental Authority charged with the enforcement, interpretation or administration thereof, and
all applicable executive orders, administrative orders, directed duties, requests, licenses,
authorizations and permits of, and agreements with, any Governmental Authority, in each case
whether or not having the force of law.

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

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

     “Leverage Ratio” means, at any date, the ratio of Consolidated Debt at such date to
Consolidated EBITDA for the period of four consecutive fiscal quarters most recently ended on or
prior to such date.

     “Lien” means any mortgage, deed of trust, pledge, security interest, encumbrance, lien
or charge of any kind (including any conditional sale or other title retention agreement, any lease
in the nature thereof, and any financing statement filed under the Uniform Commercial Code of any
jurisdiction).

     “Loan” means an extension of credit by a Lender to the Borrower under Article
II.

     “Loan Documents” means, collectively, (a) this Agreement, (b) the Notes, (c) the
Guaranty, and (d) the Fee Letters.

     “Loan Parties” means, collectively, the Borrower and Holdings.

     “Loan Party Materials” has the meaning specified in Section 6.03.

     “Majority Lenders” means, as of any date of determination, a Lender or Lenders holding
more than 50% of the Outstanding Amount on such date; provided that the portion of the Outstanding
Amount held or deemed held by any Defaulting Lender shall be excluded for purposes of making a
determination of Majority Lenders.

10

 

     “Margin Stock” means “margin stock” as such term is defined in Regulation U of the
FRB.

     “Material Adverse Effect” means a material adverse change in, or a material adverse
effect upon, the operations, business, assets or condition (financial or otherwise) of Holdings or
Holdings and its Subsidiaries taken as a whole.

     “Maturity Date” means February 8, 2011; provided, however, that if
such date is not a Business Day, the Maturity Date shall be the next preceding Business Day.

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

     “Note” means a promissory note made by the Borrower in favor of a Lender evidencing
Loans made or held by such Lender, substantially in the form of Exhibit B.

     “Obligations” means all advances to, and debts, liabilities, obligations, covenants
and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any
Loan, whether direct or indirect (including those acquired by assumption), absolute or contingent,
due or to become due, now existing or hereafter arising and including interest and fees that accrue
after the commencement by or against any Loan Party or any Affiliate of any Loan Party 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.

     “Organization Documents” means, (a) with respect to any corporation, the certificate
or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents
with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the
certificate or articles of formation or organization and operating agreement; and (c) with respect
to any partnership, joint venture, trust or other form of business entity, the partnership, joint
venture or other applicable agreement of formation or organization and any agreement, instrument,
filing or notice with respect thereto filed in connection with its formation or organization with
the applicable Governmental Authority in the jurisdiction of its formation or organization and, if
applicable, any certificate or articles of formation or organization of such entity.

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

     “Outstanding Amount” means, on any date, the aggregate outstanding principal amount of
Loans after giving effect to any borrowings and prepayments or repayments of Loans occurring on
such date.

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

11

 

     “Pension Plan” means any “employee pension benefit plan” (as such term is defined in
ERISA) which is subject to ERISA and which is from time to time maintained by Holdings or any of
its Subsidiaries.

     “Person” means any natural person, corporation, limited liability company, trust,
joint venture, association, company, partnership, Governmental Authority or other entity.

     “Platform” has the meaning specified in Section 6.03.

     “Public Lender” means any Lender that may have personnel who do not wish to receive
material non-public information with respect to Holdings or its Affiliates, or the respective
securities of any of the foregoing, and who may be engaged in investment and other market-related
activities with respect to any such Person’s securities.

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

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

     “Restricted Margin Stock” means, as of any date of determination, all of the Margin
Stock owned by Holdings and its Subsidiaries to the extent that the fair market value thereof is
not more than 25% of the aggregate fair market value of the assets of Holdings and its
Subsidiaries, determined on a consolidated basis.

     “Rights of Others” means, as to any property in which a Person has an interest, any
legal or equitable claim or other interest (other than a Lien) in or with respect to that property
held by any other Person, and any option or right held by any other Person to acquire any such
claim or other interest, including a Lien.

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

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

     “Significant Subsidiary” means any Subsidiary of Holdings with assets in excess of 3%
of Consolidated Total Tangible Assets.

     “Subordinated Debt” means, as of any date of determination, the aggregate principal
amount then outstanding of Debt of Holdings and its Subsidiaries that is subordinated to the
Obligations, on terms that (a) prohibit any payment on that Debt (whether principal, premium, if
any, interest, or otherwise) if: (i) any event not waived hereunder has occurred and is continuing
that is a Default or an Event of Default, or (ii) the payment would cause the occurrence of a
Default or an Event of Default; and (b) require that, upon acceleration of that Debt or upon
dissolution, liquidation, or reorganization of Holdings or any such Subsidiary, the Obligations
must be paid in full before any payment (whether of principal, premium, if any, interest, or
otherwise) may be made on that Debt.

12

 

     “Subsidiary” of a Person means a corporation, partnership, joint venture, limited
liability company or other business entity of which a majority of the shares of securities or other
interests having ordinary voting power for the election of directors or other governing body (other
than securities or interests having such power only by reason of the happening of a contingency)
are at the time beneficially owned, or the management of which is otherwise controlled, directly,
or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise
specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer
to a Subsidiary or Subsidiaries of Holdings.

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

     “to the best knowledge of” means, when modifying a representation, warranty, or other
statement of any Person, that the fact or situation described therein is known by such Person (or,
in the case of a Person other than a natural person, known by a responsible officer, director or
partner of such Person) making the representation, warranty, or other statement, or with the
exercise of reasonable due diligence under the circumstances (in accordance with the standard of
what a reasonable person in similar circumstances would have done) should have been known by the
Person (or, in the case of a Person other than a natural person, should have been known by a
responsible officer, director or partner of such Person).

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

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

     “Unrestricted Margin Stock” means, as of any date of determination, all of the Margin
Stock owned by Holdings and its Subsidiaries that is not Restricted Margin Stock.

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

     (a) The definitions of terms herein shall apply equally to the singular and plural
forms of the terms defined. Whenever the context may require, any pronoun shall include the
corresponding masculine, feminine and neuter forms. The words “include,”
“includes” and “including” shall be deemed to be followed by the phrase
“without limitation.” The word “will” shall be construed to have the same meaning
and effect as the word “shall.” Unless the context requires otherwise, (i) any
definition of or reference to any agreement, instrument or other document (including any
Organization Document) shall be construed as referring to such agreement, instrument or
other document as from time to time amended, supplemented or otherwise modified (subject to
any restrictions on such amendments, supplements or modifications set forth herein or in any
other Loan Document), (ii) any reference herein to any Person shall be construed to include
such Person’s successors and assigns, (iii) the words “herein,” “hereof” and
“hereunder,” and words of similar import when used in any Loan Document, shall be
construed to refer to such Loan Document in its entirety and not to any particular provision
thereof,

13

 

(iv) all references in a Loan Document to Articles, Sections, Preliminary Statements, Exhibits
and Schedules shall be construed to refer to Articles and Sections of, and Preliminary
Statements, Exhibits and Schedules to, the Loan Document in which such references appear,
(v) any reference to any law shall include all statutory and regulatory provisions
consolidating, amending, replacing or interpreting such law and any reference to any law or
regulation shall, unless otherwise specified, refer to such law or regulation as amended,
modified or supplemented from time to time, and (vi) except where the context provides
otherwise, the words “asset” and “property” shall be construed to have the
same meaning and effect and to refer to any and all tangible and intangible assets and
properties, including cash, securities, accounts and contract rights.

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

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

     1.03 Accounting Terms. (a) Generally. All accounting terms not specifically
or completely defined herein shall be construed in conformity with, and all financial data
(including financial ratios and other financial calculations) required to be submitted pursuant to
this Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in
effect from time to time, applied in a manner consistent with that used in preparing the Audited
Financial Statements, except as otherwise specifically prescribed herein.

     (b) Changes in GAAP. If at any time any change in GAAP would affect the computation
of any financial ratio or requirement set forth in any Loan Document, and either the Borrower or
the Majority Lenders shall so request, the Administrative Agent, the Lenders and the 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 Majority 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 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.

     1.04 Rounding. Any financial ratios required to be maintained by the Borrower
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 is
expressed herein and rounding the result up or down to the nearest number (with a rounding-up if
there is no nearest number).

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

14

 

ARTICLE II

THE COMMITMENTS AND LOANS

     2.01 The Loans. Subject to the terms and conditions set forth herein, each
Lender severally agrees to make a single loan to the Borrower on the Closing Date in an amount not
to exceed such Lender’s Commitment. The Loans shall be made simultaneously by the Lenders in
accordance with their respective Applicable Percentages. Amounts borrowed under this
Section 2.01 and repaid or prepaid may not be reborrowed. Loans may be Base Rate Loans or
Eurodollar Rate Loans, as further provided herein.

     2.02 The Making, Conversions and Continuations of Loans. (a) The Loans, each
conversion of Loans from one Type to the other, and each continuation of Eurodollar Rate Loans
shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be
given by telephone. Each such notice must be received by the Administrative Agent not later than
9:00 a.m. (i) in the case of any Eurodollar Rate Loans to be made on the Closing Date, three
Business Days prior to the Closing Date, and, in the case of any conversion to or continuation of
Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, three
Business Days prior to the requested date of such continuation or conversion, and (ii) in the case
of Base Rate Loans to be made on the Closing Date, on the Closing Date. Each telephonic notice by
the Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the
Administrative Agent of a written Committed Loan Notice, appropriately completed and signed by a
Designated Officer of the Borrower. Each Eurodollar Rate Loan made on the Closing Date, and each
conversion to or continuation of Eurodollar Rate Loans, shall be in a principal amount of
$5,000,000 or a whole multiple of $1,000,000 in excess thereof. Each conversion to Base Rate Loans
shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each
Committed Loan Notice (whether telephonic or written) shall specify (i) whether the Borrower is
requesting the Loans be made, a conversion of Loans from one Type to the other, or a continuation
of Eurodollar Rate Loans, (ii) the Closing Date or the requested date of the conversion or
continuation, as the case may be (which shall be a Business Day in any event), (iii) the principal
amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to
which existing Loans are to be converted, and (v) if applicable, the duration of the Interest
Period with respect thereto. If the Borrower fails to specify a Type of Loan in a Committed Loan
Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation,
then the applicable Loans shall be made as, or converted to, Base Rate Loans. Any such automatic
conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in
effect with respect to the applicable Eurodollar Rate Loans. If the Borrower requests Eurodollar
Rate Loans to be made on the Closing Date or requests conversion to, or continuation of Eurodollar
Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be
deemed to have specified an Interest Period of one month.

     (b) Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly
notify each Lender of the amount of its Applicable Percentage, and if no timely notice of a
conversion or continuation is provided by the Borrower, the Administrative Agent shall notify each
Lender of the details of any automatic conversion to Base Rate Loans described in Section
2.02(a). Each Lender shall make the amount of its Loan available to the Administrative Agent
in immediately available funds at the Administrative Agent’s Office not

15

 

later than 11:00 a.m. on the Closing Date. Upon satisfaction of the applicable conditions set
forth in Section 4.01, the Administrative Agent shall make all funds so received available
to the Borrower in like funds as received by the Administrative Agent either by (i) crediting the
account of the Borrower on the books of Bank of America with the amount of such funds or (ii) wire
transfer of such funds, in each case in accordance with instructions provided to (and reasonably
acceptable to) the Administrative Agent by the Borrower.

     (c) Except as otherwise provided herein, a Eurodollar Rate Loan may be continued or converted
only on the last day of an Interest Period for such Eurodollar Rate Loan. During the existence of
a Default, no Loans may be requested as, converted to or continued as Eurodollar Rate Loans without
the consent of the Majority Lenders.

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

     (e) After making the Loans on the Closing Date, all conversions of Loans from one Type to the
other, and all continuations of Loans as the same Type, there shall not be more than eight Interest
Periods in effect in respect of the Loans.

     2.03 Optional Prepayments. The Borrower may, upon notice to the
Administrative Agent, at any time or from time to time voluntarily prepay Loans in whole or in part
without premium or penalty; provided that (A) such notice must be received by the Administrative
Agent not later than 9:00 a.m. (1) three Business Days prior to any date of prepayment of
Eurodollar Rate Loans and (2) on the date of prepayment of Base Rate Loans; (B) any prepayment of
Eurodollar Rate Loans shall be in a principal amount of $5,000,000 or a whole multiple of
$1,000,000 in excess thereof; and (C) any prepayment of Base Rate Loans shall be in a principal
amount of $500,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, the
entire principal amount thereof then outstanding. Each such notice shall specify the date and
amount of such prepayment and the Type(s) of Loans to be prepaid and, if Eurodollar Rate Loans are
to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly notify
each Lender of its receipt of each such notice, and of the amount of such Lender’s ratable portion
of such prepayment (based on such Lender’s Applicable Percentage). If such notice is given by the
Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice
shall be due and payable on the date specified therein. Any prepayment of a Eurodollar Rate Loan
shall be accompanied by all accrued interest on the amount prepaid, together with any additional
amounts required pursuant to Section 3.05. Each prepayment of the outstanding Loans
pursuant to this Section 2.03 shall be paid to the Lenders in accordance with their
respective Applicable Percentages.

16

 

     2.04 Reduction of Commitments. The aggregate Commitments shall be
automatically and permanently reduced to zero upon the funding of the Loans on the Closing Date.

     2.05 Repayment of Loans. The Borrower shall repay to the Lenders the
aggregate principal amount of all outstanding Loans on the Maturity Date.

     2.06 Interest. (a) Subject to the provisions of Section 2.06(b), (i)
each Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each
Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the
Applicable Rate; and (ii) each Base Rate Loan shall bear interest on the outstanding principal
amount thereof from the Closing Date or the date on which such Loan was converted to a Base Rate
Loan, as the case may be, at a rate per annum equal to the Base Rate plus the Applicable Rate.

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

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

     (iii) While any other Event of Default exists, whether at stated maturity, by
acceleration or otherwise), then, upon the request of the Majority Lenders, the Borrower
shall pay interest on the principal amount of all outstanding Obligations hereunder at a
fluctuating interest rate per annum at all times equal to the Default Rate to the fullest
extent permitted by applicable Laws.

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

     (c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date
applicable thereto and at such other times as may be specified herein. Interest hereunder shall be
due and payable in accordance with the terms hereof before and after judgment, and before and after
the commencement of any proceeding under any Debtor Relief Law.

     2.07 Fees. (a) The Borrower shall pay to the Joint Lead Arrangers and the
Administrative Agent for their own respective accounts fees in the amounts and at the times
specified in the Fee Letters. Such fees shall be fully earned when paid and shall not be
refundable for any reason whatsoever.

17

 

     (a) The 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. Such fees shall be fully earned when paid
and shall not be refundable for any reason whatsoever.

     2.08 Computation of Interest and Fees. All computations of interest for Base
Rate Loans when the Base Rate is determined by Bank of America’s “prime rate” shall be made on the
basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other
computations of fees and interest shall be made on the basis of a 360-day year and actual days
elapsed (which results in more fees or interest, as applicable, being paid than if computed on the
basis of a 365-day year). Interest shall accrue on each Loan for the day on which the Loan is
made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such
portion is paid, provided that any Loan that is repaid on the same day on which it is made shall,
subject to Section 2.10(a), bear interest for one day. Each determination by the
Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all
purposes, absent manifest error.

     2.09 Evidence of Debt. The Loans made by each Lender shall be evidenced by
one or more accounts or records maintained by such Lender and by the Administrative Agent in the
ordinary course of business. The accounts or records maintained by the Administrative Agent and
each Lender shall be conclusive absent manifest error of the amount of the Loans made by the
Lenders to the Borrower 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 Borrower
hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict
between the accounts and records maintained by any Lender and the accounts and records of the
Administrative Agent in respect of such matters, the accounts and records of the Administrative
Agent shall control in the absence of manifest error. Upon the request of any Lender made through
the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the
Administrative Agent) a Note, which shall evidence such Lender’s Loans in addition to such accounts
or records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if
applicable), amount and maturity of its Loans and payments with respect thereto.

     2.10 Payments Generally; Administrative Agent’s Clawback. (a)
General. All payments to be made by the Borrower shall be made without condition or
deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly
provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent,
for the account of the respective Lenders to which such payment is owed, at the Administrative
Agent’s Office in Dollars and in immediately available funds not later than 11:00 a.m. on the date
specified herein. The Administrative Agent will promptly distribute to each Lender its Applicable
Percentage (or other applicable share as provided herein) of such payment in like funds as received
by wire transfer to such Lender’s Lending Office. All payments received by the Administrative
Agent after 11:00 a.m. shall be deemed received on the next succeeding Business Day and any
applicable interest or fee shall continue to accrue. If any payment to be made by the Borrower
shall come due on a day other than a Business Day, payment shall be made on the next following
Business Day, and such extension of time shall be reflected on computing interest or fees, as the
case may be.

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     (b) (i) Funding by Lenders; Presumption by Administrative Agent. Unless the
Administrative Agent shall have received notice from a Lender prior to the Closing Date in the case
of Eurodollar Rate Loans (or, in the case of any Base Rate Loans, prior to 12:00 noon on the
Closing Date) that such Lender will not make available to the Administrative Agent such Lender’s
share of such Loans, the Administrative Agent may assume that such Lender has made such share
available on such date in accordance with Section 2.02 (or, in the case of any Base Rate
Loans, that such Lender has made such share available in accordance with and at the time required
by Section 2.02) and may, in reliance upon such assumption, make available to the Borrower
a corresponding amount. In such event, if a Lender has not in fact made its share of the Loans
available to the Administrative Agent, then the applicable Lender and the Borrower severally agree
to pay to the Administrative Agent forthwith on demand such corresponding amount in immediately
available funds with interest thereon, for each day from and including the date such amount is made
available to the Borrower to but excluding the date of payment to the Administrative Agent, at (A)
in the case of a payment to be made by such Lender, the greater of the Federal Funds Rate and a
rate determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation, plus any administrative, processing or similar fees customarily charged by the
Administrative Agent in connection with the foregoing, and (B) in the case of a payment to be made
by the Borrower, the interest rate applicable to the Loans made available to the Borrower by the
Administrative Agent on such Lender’s behalf. If the 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 the Borrower the amount of such interest paid by the Borrower for
such period. If such Lender pays its share of the Loans to the Administrative Agent, then the
amount so paid shall constitute such Lender’s Loan. Any payment by the Borrower shall be without
prejudice to any claim the Borrower may have against a Lender that shall have failed to make such
payment to the Administrative Agent.

     (ii) Payments by the Borrower; Presumptions by Administrative Agent. Unless the
Administrative Agent shall have received notice from the Borrower prior to the time at which
any payment is due to the Administrative Agent for the account of the Lenders hereunder that
the Borrower will not make such payment, the Administrative Agent may assume that the
Borrower has made such payment on such date in accordance herewith and may, in reliance upon
such assumption, distribute to the Lenders the amount due. In such event, if the Borrower
has not in fact made such payment, then each of the Lenders severally agrees to repay to the
Administrative Agent forthwith on demand the amount so distributed to such Lender, in
immediately available funds with interest thereon, for each day from and including the date
such amount is distributed to it to but excluding the date of payment to the Administrative
Agent, at the greater of the Federal Funds Rate and a rate determined by the Administrative
Agent in accordance with banking industry rules on interbank compensation.

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

     (c) Failure to Satisfy Conditions Precedent. If any Lender makes available to the
Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing
provisions of this Article II, and such funds are not made available to the Borrower by the
Administrative Agent because the conditions to the Loans set forth in Article IV are not

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satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return
such funds (in like funds as received from such Lender) to such Lender, without interest.

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

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

     (f) Insufficient Funds. If at any time insufficient funds are received by and
available to the Administrative Agent to pay fully all amounts of principal, interest and fees then
due hereunder, such funds shall be applied (i) first, toward payment of interest and fees
then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of
interest and fees then due to such parties, and (ii) second, toward payment of principal
then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of
principal then due to such parties.

     2.11 Sharing of Payments by Lenders. If any Lender shall, by exercising any
right of setoff or counterclaim or otherwise, obtain payment in respect of (a) Obligations due and
payable to such Lender hereunder and under the other Loan Documents at such time in excess of its
ratable share (according to the proportion of (i) the amount of such Obligations due and payable to
such Lender at such time to (ii) the aggregate amount of the Obligations due and payable to all
Lenders hereunder and under the other Loan Documents at such time) of payments on account of the
Obligations due and payable to all Lenders hereunder and under the other Loan Documents at such
time obtained by all the Lenders at such time or (b) Obligations owing (but not due and payable) to
such Lender hereunder and under the other Loan Documents at such time in excess of its ratable
share (according to the proportion of (i) the amount of such Obligations owing (but not due and
payable) to such Lender at such time to (ii) the aggregate amount of the Obligations owing (but not
due and payable) to all Lenders hereunder and under the other Loan Parties at such time) of payment
on account of the Obligations owing (but not due and payable) to all Lenders hereunder and under
the other Loan Documents at such time obtained by all of the Lenders at such time 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 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 Obligations then due and payable
to the Lenders or owing (but not due and payable) to the Lenders, as the case may be, 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

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     (ii) the provisions of this Section shall not be construed to apply to (A) any payment
made by the Borrower pursuant to and in accordance with the express terms of this Agreement
or (B) any payment obtained by a Lender as consideration for the assignment of or sale of a
participation in any of its Loans to any assignee or participant, other than to the Borrower
or any Subsidiary of the Borrower (as to which the provisions of this Section shall apply).

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

     2.12 Payments by Holdings. Any payment made hereunder by Holdings on the
Borrower’s behalf shall be deemed to be a payment by the Borrower for purposes of this Agreement.

ARTICLE III

TAXES, YIELD PROTECTION AND ILLEGALITY

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

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

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

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or by the Administrative Agent on its own behalf or on behalf of a
Lender, shall be conclusive absent manifest error.

     (d) Evidence of Payments. As soon as practicable after any payment of Indemnified
Taxes or Other Taxes by the Borrower or Holdings, as the case may be, to a Governmental Authority,
the Borrower or Holdings, as the case may be, 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.

     (e) Status of Lenders. Any Foreign Lender that is entitled to an exemption from or
reduction of withholding tax under the law of the jurisdiction in which the Borrower or Holdings,
as the case may be, is resident for tax purposes, or any treaty to which such jurisdiction is a
party, with respect to payments hereunder or under any other Loan Document shall deliver to the
Borrower and Holdings (with a copy to the Administrative Agent), at the time or times prescribed by
applicable law or reasonably requested by the Borrower, Holdings or the Administrative Agent, such
properly completed and executed documentation prescribed by applicable law as will permit such
payments to be made without withholding or at a reduced rate of withholding. In addition, any
Lender, if requested by the Borrower, Holdings or the Administrative Agent, shall deliver such
other documentation prescribed by applicable law or reasonably requested by the Borrower, Holdings
or the Administrative Agent as will enable the Borrower, Holdings or the Administrative Agent to
determine whether or not such Lender is subject to backup withholding or information reporting
requirements.

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

     (i) duly completed copies of Internal Revenue Service Form W-8BEN claiming eligibility
for benefits of an income tax treaty to which the United States is a party,

     (ii) duly completed copies of Internal Revenue Service Form W-8ECI,

     (iii) in the case of a Foreign Lender claiming the benefits of the exemption for
portfolio interest under section 881(c) of the Code, (A) a certificate to the effect that
such Foreign Lender is not (1) a “bank” within the meaning of section 881(c)(3)(A) of the
Code, (2) a “10 percent shareholder” of the Borrower or Holdings within the meaning of
section 881(c)(3)(B) of the Code, or (3) a “controlled foreign corporation” described in
section 881(c)(3)(C) of the Code and (B) duly completed copies of Internal Revenue Service
Form W-8BEN, or

22

 

     (iv) 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 Borrower to
determine the withholding or deduction required to be made.

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

     3.02 Illegality. If any Lender determines that any Law has made it unlawful,
or that any Governmental Authority has asserted that it is unlawful, for any Lender or its
applicable Lending Office to make, maintain or fund Eurodollar Rate Loans, or to determine or
charge interest rates based upon the Eurodollar Rate, or any Governmental Authority has imposed
material restrictions on the authority of such Lender to purchase or sell, or to take deposits of,
Dollars in the London interbank market, then, on notice thereof by such Lender to the Borrower
through the Administrative Agent, any obligation of such Lender to make or continue Eurodollar Rate
Loans or to convert Base Rate Loans to Eurodollar Rate Loans shall be suspended until such Lender
notifies the Administrative Agent and the Borrower that the circumstances giving rise to such
determination no longer exist. Upon receipt of such notice, the Borrower shall, upon demand from
such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all
Eurodollar Rate Loans of such Lender to Base Rate Loans, either on the last day of the Interest
Period therefor, if such Lender may lawfully continue to maintain such Eurodollar Rate Loans to
such day, or immediately, if such Lender may not lawfully continue to maintain such Eurodollar Rate
Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the
amount so prepaid or converted.

     3.03 Inability to Determine Rates. If the Majority Lenders determine that for
any reason in connection with any request for a Eurodollar Rate Loan or a conversion to or
continuation thereof that (a) Dollar deposits are not being offered to banks in the London
interbank eurodollar market for the applicable amount and Interest Period of such Eurodollar Rate
Loan, (b) adequate and reasonable means do not exist for determining the Eurodollar Rate for any
requested Interest Period with respect to a proposed Eurodollar Rate Loan, or (c) the Eurodollar
Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan

23

 

does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the
Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, the
obligation of the Lenders to make or maintain Eurodollar Rate Loans shall be suspended until the
Administrative Agent (upon the instruction of the Majority Lenders) revokes such notice. Upon
receipt of such notice, the Borrower may revoke any pending request for the making of, conversion
to or continuation of Eurodollar Rate Loans or, failing that, will be deemed to have, in the case
of any such request for the making of or continuation of Eurodollar Rate Loans, converted such
request into a request for the making of or conversion to Base Rate Loans in the amount specified
therein, and, in the case of any such request for the conversion to Eurodollar Rate Loans, revoked
such request.

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

     (i) impose, modify or deem applicable any reserve, special deposit, compulsory loan,
insurance charge or similar requirement against assets of, deposits with or for the account
of, or credit extended or participated in by, any Lender (except any reserve requirement
contemplated by Section 3.04(e));

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

     (iii) impose on any Lender or the London interbank market any other condition, cost or
expense affecting this Agreement or Eurodollar Rate Loans made by such Lender or
participation therein;

and the result of any of the foregoing shall be to increase the cost to such Lender of making or
maintaining any Eurodollar Rate Loan (or of maintaining its obligation to make any such Loan) or to
reduce the amount of any sum received or receivable by such Lender hereunder (whether of principal,
interest or any other amount) then, upon request of such Lender, the Borrower will pay to such
Lender such additional amount or amounts as will compensate such Lender for such additional costs
incurred or reduction suffered.

     (b) Capital Requirements. If any Lender determines that any Change in Law affecting
such Lender or any Lending Office of such Lender or such Lender’s holding company, if any,
regarding capital requirements has or would have the effect of reducing the rate of return on such
Lender’s capital or on the capital of such Lender’s holding company, if any, as a consequence of
this Agreement, the Commitments of such Lender or the Loans made by such Lender to a level below
that which such Lender or such Lender’s holding company could have achieved but for such Change in
Law (taking into consideration such Lender’s policies and the policies of such Lender’s holding
company with respect to capital adequacy), then from time to time the Borrower will pay to such
Lender such additional amount or amounts as will compensate such Lender or such Lender’s holding
company for any such reduction suffered.

24

 

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

     (d) Delay in Requests. Failure or delay on the part of any Lender to demand
compensation pursuant to the foregoing provisions of this Section shall not constitute a waiver of
such Lender’s right to demand such compensation, provided that the Borrower shall not be
required to compensate a Lender pursuant to the foregoing provisions of this Section for any
increased costs incurred or reductions suffered more than nine months prior to the date that such
Lender notifies the Borrower of the Change in Law giving rise to such increased costs or reductions
and of such Lender’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).

     (e) Reserves on Eurodollar Rate Loans. The Borrower shall pay to each Lender, as long
as such Lender shall be required to maintain reserves with respect to liabilities or assets
consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency
liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan
equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by
such Lender in good faith, which determination shall be conclusive), which shall be due and payable
on each date on which interest is payable on such Loan, provided the Borrower shall have
received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such
additional interest from such Lender. If a Lender fails to give notice 10 days prior to the
relevant Interest Payment Date, such additional interest shall be due and payable 10 days from
receipt of such notice.

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

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

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

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

25

 

including any loss of anticipated profits and any loss or expense arising from the liquidation or
reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the
deposits from which such funds were obtained. The Borrower shall also pay any customary and
reasonable administrative fees charged by such Lender in connection with the foregoing.

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

     3.06 Mitigation Obligations; Replacement of Lenders. (a) Designation of
a Different Lending Office. If any Lender requests compensation under Section 3.04, or
the Borrower is required to pay any additional amount to any Lender or any Governmental Authority
for the account of any Lender pursuant to Section 3.01, or if any Lender gives a notice
pursuant to Section 3.02, then such Lender shall use reasonable efforts to designate a
different Lending Office for funding or booking its Loans hereunder or to assign its rights and
obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of
such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant
to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need
for the notice pursuant to Section 3.02, as applicable, and (ii) in each case, would not
subject such Lender to any unreimbursed cost or expense. The 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
3.04, or if the Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 3.01, the Borrower
may replace such Lender in accordance with Section 11.13.

     3.07 Survival. All of the Borrower’s obligations under this Article III shall
survive termination of the Aggregate Commitments and repayment of all other Obligations hereunder.

ARTICLE IV

CONDITIONS PRECEDENT TO THE LOANS

     4.01 Conditions to the Loans. The obligation of each Lender to make its Loans
hereunder on the Closing Date is subject to satisfaction of the following conditions precedent:

     (a) The Administrative Agent’s receipt of the following, each of which shall be
originals or telecopies (followed promptly by originals) unless otherwise specified, each
properly executed by a Designated Officer of the signing Loan Party, each dated the Closing
Date (or, in the case of certificates of governmental officials, a recent date before the
Closing Date) and each in form and substance satisfactory to the Administrative Agent and
each of the Lenders:

     (i) executed counterparts of this Agreement sufficient in number for
distribution to the Administrative Agent, each Lender and the Borrower;

26

 

     (ii) a Note executed by the Borrower in favor of each Lender requesting a Note;

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

     (iv) such documents and certifications as the Administrative Agent may
reasonably require to evidence that each Loan Party is duly organized or formed, and
that the Borrower is validly existing, in good standing and qualified to engage in
business in the State of Nevada and Holdings is validly existing, in good standing
and qualified to engage in business in the State of Delaware and the State of
California;

     (v) a favorable opinion of Richard P. Randall, counsel to the Loan Parties,
addressed to the Administrative Agent and each Lender, as to the matters set forth
in Exhibit E-1 and such other matters concerning the Loan Parties and the
Loan Documents as the Majority Lenders may reasonably request;

     (vi) a favorable opinion of Brownstein Hyatt Farber Schreck, LLP, local counsel
to the Borrower in Nevada, addressed to the Administrative Agent and each Lender, as
to the matters set forth in Exhibit E-2 and such other matters concerning
the Borrower and the Loan Documents to which it is party as the Majority Lenders may
reasonably request;

     (vii) a certificate signed by a Designated Officer of Holdings certifying that
the Existing Credit Agreement has been terminated as of the Closing Date or will be
terminated no later than three Business Days after the Closing Date; and

     (viii) such other assurances, certificates, documents, consents or opinions as
the Administrative Agent or any Lender reasonably may require.

     (b) (i) All fees required to be paid to the Administrative Agent and the Joint Lead
Arrangers on or before the Closing Date shall have been paid and (ii) all fees required to
be paid to the Lenders on or before the Closing Date shall have been paid.

     (c) Unless waived by the Administrative Agent, the Borrower shall have paid all
reasonable fees, charges and disbursements of counsel to the Administrative Agent (directly
to such counsel if requested by the Administrative Agent) to the extent invoiced 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 Borrower and the
Administrative Agent).

27

 

     (d) The Closing Date shall have occurred on or before February 8, 2008.

     (e) The representations and warranties of the Borrower and each other Loan Party
contained in Article V or any other Loan Document, or which are contained in any
document furnished at any time under or in connection herewith or therewith, shall be true
and correct on and as of the Closing Date.

     (f) No Default shall exist, or would result from the making of the Loans or from the
application of the proceeds thereof.

     (g) The Administrative Agent shall have received a Committed Loan Notice in accordance
with the requirements hereof, and such Committed Loan Notice shall be deemed to be a
representation and warranty that the conditions specified in Sections 4.01(e) and
(f) have been satisfied on and as of the Closing Date.

Without limiting the generality of the provisions of the last paragraph of Section 9.03,
for purposes of determining compliance with the conditions specified in this Section 4.01,
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.

ARTICLE V

REPRESENTATIONS AND WARRANTIES

     Each of Holdings and the Borrower, as applicable, represents and warrants to the
Administrative Agent and the Lenders that:

     5.01
Existence and Qualification; Power; Compliance with Law. (a) The Borrower
is a corporation duly formed, validly existing and in good standing under the laws of the State of
Nevada, and Holdings is a corporation duly formed, validly existing and in good standing under the
laws of the State of Delaware. The chief executive offices of Holdings are in Pasadena,
California. Holdings is duly qualified or registered to transact business in the State of
California and each other jurisdiction in which the conduct of its business or the ownership of its
properties make such qualification or registration necessary, except where the failure so to
qualify or register would not have a Material Adverse Effect. Each Loan Party has all requisite
corporate power and authority to conduct its business, to own and lease its properties and to
execute, deliver and perform all of its obligations under the Loan Documents.

     (b) All outstanding shares of capital stock of each Loan Party are duly authorized, validly
issued, fully paid, nonassessable, and issued in compliance with all applicable state and federal
securities and other laws.

     (c) Each Loan Party is in compliance with all Laws and other legal requirements applicable to
its business, has obtained all authorizations, consents, approvals, orders, licenses and permits
from, and has accomplished all filings, registrations and qualifications with, or obtained
exemptions from any of the foregoing from, any Governmental Authority

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that are necessary for the transaction of its business, except where the failure so
to comply, file, register, qualify or obtain exemptions would not have a Material Adverse Effect.

     5.02 Authority; Compliance with Other Instruments and Government Regulations.
The execution, delivery, and performance by each Loan Party of the Loan Documents to which it is
party have been duly authorized by all necessary action and do not and will not (a) require any
consent or approval not heretofore obtained of any stockholder, security holder or creditor;
(b) violate or conflict with any provision of such Loan Party’s charter, certificate, articles of
incorporation or bylaws, or amendments thereof; (c) result in or require the creation or imposition
of any Lien or Rights of Others upon or with respect to any property now owned or leased or
hereafter acquired by such Loan Party; (d) violate any provision of any Laws (including without
limitation Regulation U of the FRB), order, writ, judgment, injunction, decree, determination, or
award presently in effect having applicability to such Loan Party; or (e) result in a breach of or
constitute a default under, or cause or permit the acceleration of any obligation owed under, any
indenture or loan or credit agreement or any other material agreement, lease, or instrument to
which such Loan Party is a party or by which such Loan Party or any of its property, is bound or
affected; and such Loan Party is not in default under any Laws, order, writ, judgment, injunction,
decree, determination, award, indenture, agreement, lease, or instrument described in Section
5.02(e) in any respect that would have a Material Adverse Effect.

     5.03 No Governmental Approvals Required. No authorization, consent, approval,
order, license or permit from, or filing, registration, or qualification with, or exemption from
any of the foregoing from, any Governmental Authority is or will be required to authorize or permit
under applicable Laws the execution, delivery, and performance by any Loan Party of the Loan
Documents to which it is a party.

     5.04
Subsidiaries. (a) Schedule 5.04 hereto correctly sets forth as of
December 30, 2006 the names, forms of legal entity and jurisdictions of formation of all
Subsidiaries and states whether each is or is not a Consolidated Subsidiary. Except for shares of
capital stock or partnership interests in a Subsidiary required by applicable Laws to be held by a
director or comparable official of that Subsidiary and unless otherwise indicated in Schedule
5.04 or where the failure to own all of the shares of capital stock or partnership interests in
such Subsidiary would not have a Material Adverse Effect, all of the outstanding shares of capital
stock or partnership interests of each Subsidiary are owned beneficially by Holdings, and, to the
best knowledge of Holdings, all securities and interests so owned are duly authorized, validly
issued, fully paid, non-assessable, and issued in compliance with all applicable state and federal
securities and other laws, and are free and clear of all Liens and Rights of Others.

     (b) Each Subsidiary is a corporation or other legal entity duly formed, validly existing, and
in good standing under the laws of its jurisdiction of formation, is duly qualified to do business
and is in good standing in each jurisdiction in which the conduct of its business or the ownership
or leasing of its properties makes such qualification necessary, except where the failure
to be so duly qualified and in good standing does not have a Material Adverse Effect, and has all
requisite legal power and authority to conduct its business and to own and lease its properties.

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     (c) Each Subsidiary is in compliance with all Laws and other requirements applicable to its
business and has obtained all authorizations, consents, approvals, orders, licenses, and permits
from, and has accomplished all filings, registrations, and qualifications with, or obtained
exemptions from any of the foregoing from, any Governmental Authority that are necessary for the
transaction of its business, except where the failure to be in such compliance, obtain such
authorizations, consents, approvals, orders, licenses, and permits, accomplish such filings,
registrations, and qualifications, or obtain such exemptions, does not have a Material Adverse
Effect.

     5.05 Financial Statements. The Borrower has furnished to each Lender the
following financial statements: (i) the consolidated balance sheet of Holdings and the
Consolidated Subsidiaries as at December 30, 2006, and the related consolidated statements of
income, shareholders’ equity and changes in financial position for the year then ended, together
with the report of PricewaterhouseCoopers on such financial statements and (ii) the consolidated
balance sheet of Holdings and the Consolidated Subsidiaries as at September 29, 2007, and the
related consolidated statements of income, shareholder’s equity and changes in financial position
for the three months then ended. The foregoing financial statements are in accordance with the
books and records of Holdings and the Consolidated Subsidiaries, were prepared in accordance with
GAAP and fairly present the consolidated financial condition and results of operations of Holdings
and the Consolidated Subsidiaries as at the dates and for the periods covered thereby.

     5.06 No Material Adverse Change or Other Liabilities. Except as set forth in
Section 5.09, since December 30, 2006, there has been no event or circumstance that has had
a Material Adverse Effect. Holdings and the Consolidated Subsidiaries do not have any material
liability or material contingent liability required to be reflected or disclosed in the financial
statements or notes thereto described in Section 5.05 which is not so reflected or
disclosed.

     5.07 Title to Assets. Holdings and its Subsidiaries have good and valid title
to all of the assets reflected in the financial statements described in Section 5.05
(except for assets that are sold in transactions that are not prohibited by the terms of this
Agreement) free and clear of all Liens and Rights of Others other than (a) those reflected or
disclosed in such financial statements or notes thereto, (b) immaterial Liens or Rights of Others
not required under GAAP to be so reflected or disclosed, and (c) Liens or Rights of Others
permitted pursuant to Section 7.02.

     5.08 Regulated Industries. Neither Holdings nor any of its Subsidiaries is or
is required to be registered under the Investment Company Act of 1940.

     5.09 Litigation. There are no actions, suits, proceedings or investigations
pending or, to the best of Holdings’ knowledge, threatened against or affecting Holdings or any of
its Subsidiaries or any property of any of them in any court of law or before any Governmental
Authority which, if determined adversely to any of them, would have a Material Adverse Effect,
except as set forth in Schedule 5.09 annexed hereto or as referred to in Holdings’ news
releases and filings with the SEC made or filed on or prior to the Closing Date (including the
Australian Competition and Consumer Commission investigation into industry competitive practices,
and any related or threatened inquiries, claims, proceedings or lawsuits pertaining to this
investigation or to the subject matter thereof or of the concluded investigations by the U.S.
Department of Justice, the European Commission and the Canadian Department of Justice

30

 

(including purported class actions seeking treble damages for alleged unlawful competitive
practices, and purported class actions related to alleged disclosure and fiduciary duty violations
pertaining to alleged unlawful competitive practices, which were filed after the announcement of
the U.S. Department of Justice investigation), as well as the impact of potential violations of the
U.S. Foreign Corrupt Practices Act based on issues in China).

     5.10 Binding Obligations. This Agreement constitutes the legal, valid, and
binding obligation of each Loan Party, enforceable against such Loan Party in accordance with its
terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, arrangement,
moratorium or other similar laws relating to or affecting creditors’ rights generally or by
equitable principles relating to the granting of specific performance and other equitable remedies
as a matter of judicial discretion.

     5.11 No Default. No Default or Event of Default exists or has resulted from
the incurring of any Obligations by any Loan Party. As of the Closing Date, neither Holdings nor
any of its Subsidiaries is in default under or with respect to any material contractual obligation
in any respect which, individually or together with all such defaults, has had a Material Adverse
Effect.

     5.12 ERISA. (a) The actuarial present value of all vested accrued benefits
under all Pension Plans does not exceed the current fair market value of the assets determined on
an ongoing basis of the Pension Plans by an amount which would materially affect the financial
condition of any Loan Party or any Loan Party’s ability to pay or perform its obligations under the
Loan Documents; (b) no Pension Plan or trust created thereunder has incurred any “accumulated
funding deficiency” (as such term is defined in Section 302 of ERISA) whether or not waived, since
the effective date of ERISA; and (c) based on information received from the respective
administrators of “multiemployer plans” (as defined in ERISA) to which Holdings or any of its
Subsidiaries contributes, the aggregate present value of the unfunded vested benefits allocable to
Holdings and its Subsidiaries under all such multiemployer plans is not an amount which would
materially affect the financial condition of any Loan Party or any Loan Party’s ability to pay or
perform its obligations under the Loan Documents.

     5.13 Regulation U. Neither Holdings nor any of its Subsidiaries is engaged
principally, or as one of its important activities, in the business of extending credit for purpose
of “buying” or “carrying” any Margin Stock within the meanings of Regulation U of the FRB. No part
of any Loan will be used to buy or carry any Margin Stock, or to extend credit to others for that
purpose, or for any purpose, if to do so would violate the provisions of Regulation U of the FRB.

     5.14 Tax Liability. Holdings and its Subsidiaries have filed all income tax
returns which are required to be filed, and have paid, or made provision for the payment of, all
taxes which have become due pursuant to said returns or pursuant to any assessment received by
Holdings or any of its Subsidiaries, except such taxes, if any, as are being contested in good
faith and as to which adequate reserves have been provided, and except such taxes the failure of
which to pay will not have a Material Adverse Effect.

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     5.15 Copyrights, Patents, Trademarks and Licenses, etc. Holdings and its
Subsidiaries own or are licensed or otherwise have the right to use all of the patents, trademarks,
service marks, trade names, copyrights, contractual franchises, authorizations and other rights
that are reasonably necessary for the operation of their respective businesses, where the failure
to have such rights would have a Material Adverse Effect. To the best knowledge of Holdings, no
slogan or other advertising device, product, process, method, substance, part or other material now
employed, or now contemplated to be employed, by Holdings or any of its Subsidiaries infringes upon
any rights held by any other Person, where such infringement would create a Material Adverse
Effect.

     5.16 Environmental Matters. Holdings conducts in the ordinary course of
business a review of the effect of existing Environmental Laws applicable to, and existing
Environmental Claims of, its business, operations and properties, and as a result thereof Holdings
has reasonably concluded that such Environmental Laws and Environmental Claims would not,
individually or in the aggregate, have a Material Adverse Effect.

     5.17 Insurance. The properties of Holdings and its Subsidiaries are insured
with financially sound and reputable insurance companies not Affiliates of Holdings, in such
amounts, with such deductibles and covering such risks as are customarily carried by companies
engaged in similar businesses and owning similar properties in localities where Holdings and each
of its Subsidiaries operates.

     5.18 Disclosure. No written statement made by any Loan Party to the Lenders
in connection with the Loan Documents or any Loan contains or will contain any untrue statement of
a material fact or omits or will omit a material fact necessary to make the statements contained or
made therein not misleading. There is no fact which any Loan Party has not disclosed to the
Lenders in writing which materially and adversely affects nor, so far as any Loan Party can now
foresee, is reasonably likely to prove to affect materially and adversely the business, operations,
properties, prospects, profits or condition (financial or otherwise) of Holdings and its
Subsidiaries, taken as a whole, or the ability of any Loan Party to pay or perform the Obligations.

ARTICLE VI

AFFIRMATIVE COVENANTS

     As long as any Loan remains unpaid, or any other Obligation remains unpaid or unperformed, or
any commitment to make Loans remains in effect, Holdings shall, and shall cause each of its
Subsidiaries to, unless the Majority Lenders otherwise consent in writing:

     6.01 Financial and Business Information. As long as any Loan remains unpaid
or any other Obligation remains unpaid or unperformed, or any Commitment remains in effect,
Holdings shall, unless the Majority Lenders otherwise consent in writing, deliver to the Lenders at
its own expense:

     (a) As soon as reasonably possible, and in any event within 60 days after the close of each of
the first three fiscal quarters of Holdings, (i) the consolidated balance sheet of Holdings and the
Consolidated Subsidiaries as of the end of such quarter, setting forth in

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comparative form the corresponding figures for the corresponding quarter of the preceding
fiscal year, if available, and (ii) the consolidated statements of profit and loss and changes in
financial position of Holdings and the Consolidated Subsidiaries for such quarter and for the
portion of the fiscal year ended with such quarter, setting forth in comparative form the
corresponding periods of the preceding fiscal year, all in reasonable detail, prepared in
accordance with GAAP and certified by the principal financial officer of Holdings, subject to
normal year-end audit adjustments;

     (b) As soon as reasonably possible, and in any event within 120 days after the close of each
fiscal year of Holdings, (i) the consolidated balance sheets of Holdings and the Consolidated
Subsidiaries as at the end of such fiscal year, setting forth in comparative form the corresponding
figures at the end of the preceding fiscal year and (ii) the consolidated statements of profit and
loss and changes in financial position of Holdings and the Consolidated Subsidiaries for such
fiscal year, setting forth in comparative form the corresponding figures for the previous fiscal
year. Such consolidated balance sheet and statements shall be prepared in reasonable detail, in
accordance with GAAP, and shall be accompanied by a report and opinion of PricewaterhouseCoopers or
other independent public accountants selected by Holdings and reasonably satisfactory to the
Majority Lenders, which report and opinion shall be prepared in accordance with GAAP and shall be
subject only to such qualifications and exceptions as are acceptable to the Majority Lenders.

     6.02 Certificates; Other Information. As long as any Loan remains unpaid or
any other Obligation remains unpaid or unperformed, or any Commitment remains in effect, Holdings
shall deliver or make available to the Lenders via Holdings’ website, averydennison.com or at its
own expense:

     (a) concurrently with the delivery of the financial statements referred to in Sections
6.01(a) and (b), a Compliance Certificate executed by a Designated Officer;

     (b) promptly after request by any Lender, copies of any material report filed by Holdings or
any of its Subsidiaries with any Governmental Authority unless to do so would violate applicable
Laws or would waive attorney-client privilege held by Holdings or any of its Subsidiaries; and

     (c) promptly after the same are available, at any Lender’s request, copies of each annual
report, proxy or financial statement or other material report or communication sent to all
stockholders of Holdings, and copies of all annual, regular, periodic and special reports and
registration statements which Holdings files with the SEC or any similar or corresponding
Governmental Authority or with any securities exchange.

     6.03 Notices. Holdings and the Borrower, as applicable, shall promptly notify
the Administrative Agent and each Lender:

     (a) promptly upon becoming aware of the occurrence of any (i) “reportable event” (as such term
is defined in Section 4043 of ERISA) or (ii) “prohibited transaction” (as such term is defined in
Section 406 or Section 2003(a) of ERISA) with respect to which Holdings may be liable for excise
tax under Section 4975 of the Code in connection with any

33

 

Pension Plan or any trust created thereunder, in either case which may result in a Material
Adverse Effect, a written notice specifying the nature thereof, what action Holdings and/or any of
its Subsidiaries is taking or proposes to take with respect thereto, and, when known, any action
taken by the IRS with respect thereto; it being understood that for purposes of this provision,
“aware” means that such event or transaction must be actually known to the chief financial officer
or the treasurer of Holdings;

     (b) promptly upon, and in any event within five Business Days after, becoming aware of the
existence of any condition or event which constitutes a Default or an Event of Default a written
notice specifying the nature and period of existence thereof and what action such Loan Party is
taking or proposes to take with respect thereto; it being understood that for purposes of this
provision, “aware” means that such condition or event must be actually known to the chief financial
officer or the treasurer of such Loan Party;

     (c) promptly upon becoming aware that the holder of any evidence of Debt or other security of
Holdings or any of its Subsidiaries that is material to Holdings and the Consolidated Subsidiaries,
considered as a whole, has given notice or taken any other action with respect to a claimed default
or event of default, a written notice specifying the notice given or action taken by such holder
and the nature of the claimed default or event of default and what action such Loan Party is taking
or proposes to take with respect thereto; it being understood that for purposes of this provision,
“aware” means that such notice or action must be actually known to the chief financial officer or
the treasurer of such Loan Party;

     (d) of any change in accounting policies or financial reporting practices by Holdings or any
of the Consolidated Subsidiaries that is material to Holdings and the Consolidated Subsidiaries
considered as a whole; and

     (e) such other data and information as from time to time may be reasonably requested by any
Lender.

     Each of Holdings and the Borrower hereby acknowledges that (a) the Administrative Agent and/or
the Joint Lead Arrangers will make available to the Lenders materials and/or information provided
by or on behalf of Holdings and the Borrower hereunder (collectively, “Loan Party
Materials”) by posting the Loan Party Materials on IntraLinks or another similar electronic
system (the “Platform”) and (b) no Lender shall be a Public Lender.

     6.04 Payment of Taxes and Other Potential Liens. Pay and discharge promptly,
all taxes (including any withholding taxes required by law to be paid by any Loan Party),
assessments, and governmental charges or levies imposed upon it, upon its property or any part
thereof, upon its income or profits or any part thereof, in each case that, individually or in the
aggregate, are material to Holdings and its Subsidiaries, considered as a whole, or upon any right
or interest of the Lenders under any Loan Document; except that Holdings and its
Subsidiaries shall not be required to pay or cause to be paid (a) any income or gross receipts tax
generally applicable to banks or (b) any tax, assessment, charge, or levy that is not yet past due,
or is being contested in good faith by appropriate proceedings, as long as the relevant entity has
established and maintains adequate reserves for the payment of the same and by reason of such
nonpayment no material property of any Loan Party is in danger of being lost or forfeited.

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     6.05 Preservation of Existence. Preserve and maintain their respective
existence, licenses, rights, franchises, and privileges in the jurisdiction of their formation and
all authorizations, consents, approvals, orders, licenses, permits, or exemptions from, or
registrations with, any Governmental Authority that are necessary for the transaction of their
respective businesses, and qualify and remain qualified to transact business in each jurisdiction
in which such qualification is necessary in view of their respective business or the ownership or
leasing of their respective properties, except that the failure to preserve and maintain
any particular license, right, franchise, privilege, authorization, consent, approval, order,
permit, exemption, or registration, or to qualify or remain qualified in any jurisdiction, that
would not have a Material Adverse Effect will not constitute a violation of this covenant, and
except that nothing in this Section 6.05 shall prevent the termination of the business or
existence (corporate or otherwise) of any Subsidiary which in the reasonable judgment of the Board
of Directors of Holdings is no longer necessary or desirable.

     6.06 Maintenance of Properties. Maintain, preserve, and protect all of their
respective properties and equipment in good order and condition, subject to wear and tear in the
ordinary course of business and, in the case of unimproved properties, damage caused by the natural
elements, and not permit any waste of their respective properties, except where a failure
to maintain, preserve, and protect a particular item of property or equipment would not result in a
Material Adverse Effect.

     6.07 Maintenance of Insurance. Maintain insurance with responsible insurance
companies in such amounts and against such risks as is usually carried by responsible companies
engaged in similar businesses and owning similar assets in the general areas in which Holdings and
its Subsidiaries operate except to the extent that Holdings or any of its Subsidiaries is, in the
reasonable opinion of a Designated Officer, adequately self-insured in a manner comparable to
responsible companies engaged in similar businesses and owning similar assets in the general areas
in which Holdings or any such Subsidiary operates.

     6.08 Compliance with Laws. Comply with the requirements of all applicable
Laws and orders of any Governmental Authority, noncompliance with which would result in a Material
Adverse Effect, except that Holdings and its Subsidiaries need not comply with a
requirement then being contested by any of them in good faith by appropriate proceedings so long as
no interest of the Lenders would be materially impaired thereby.

     6.09 Inspection Rights. At any time during regular business hours and as
often as reasonably requested, permit any Lender or any employee, agent, or representative thereof
to examine, audit and make copies and abstracts from the records and books of account of, and to
visit and inspect the properties of Holdings and its Subsidiaries and to discuss the affairs,
finances, and accounts of Holdings and its Subsidiaries with any of their officials, customers or
vendors, and, upon request, to furnish promptly to each Lender true copies of all material
financial information formally made available to the senior management of Holdings and reasonably
identifiable by Holdings. Nothing herein shall obligate Holdings to disclose any information to
the Lenders respecting trade secrets or similar proprietary information constituting products or
processes relating to the business of Holdings or its Subsidiaries or in violation of applicable
Laws.

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     6.10 Keeping of Records and Books of Account. Keep in conformity with GAAP
adequate records and books of account reflecting financial transactions and all applicable
requirements of any Governmental Authority having jurisdiction over Holdings or any of its
Subsidiaries, except where the failure to comply with GAAP or such applicable requirements would
not make the records and books of accounts of Holdings and its Subsidiaries, taken as a whole,
materially misleading.

     6.11 ERISA Compliance. Comply with the minimum funding requirements of ERISA
with respect to all Pension Plans.

     6.12 Environmental Laws. Conduct its operations and keep and maintain its
property in compliance with all Environmental Laws where failure to do so will have a Material
Adverse Effect.

     6.13 Use of Proceeds. Use the proceeds of the Loans for working capital,
commercial paper backup and other general corporate purposes not in contravention of any Law or of
any Loan Document, including acquiring other Persons so long as the acquisition is approved by the
board of directors, requisite general partners, requisite managers or other governing board or body
of the Person being acquired.

     6.14 Termination of the Existing Credit Agreement. No later than three
Business Days after the Closing Date, terminate the Existing Credit Agreement and, concurrently
therewith, deliver evidence of such termination to the Administrative Agent (which evidence shall
be reasonably satisfactory to the Administrative Agent).

     6.15
Assumption of the Obligations by Holdings. (a) If at any time (i) more
than 50% of the assets, property or shares of the Borrower are sold, transferred or otherwise
disposed of to a Person that is not an Affiliate of Holdings or (ii) the Borrower is dissolved or
the existence (corporate or otherwise) of the Borrower is terminated (other than as a result of a
merger, acquisition or consolidation with or into an Affiliate of Holdings), Holdings shall assume
the Loans and all other Obligations hereunder; provided that (A) the Administrative Agent
shall have received an agreement duly executed by Holdings evidencing such assumption, and a
favorable legal opinion of counsel to Holdings with regard to corporate power and authority to
enter into such assumption agreement and the due execution, due delivery, due authorization and
enforceability thereof, such assumption agreement and legal opinion to be in form and substance
satisfactory to the Administrative Agent, (B) the execution, delivery and performance by Holdings
of such assumption agreement shall have been duly authorized by all necessary action and (C) such
assumption would not materially impair the Administrative Agent’s or any Lender’s rights and
remedies under the Loan Documents.

     (b) If at any time (i) more than 50% of the assets, property or shares of the Borrower are
sold, transferred or otherwise disposed of to a Person that is an Affiliate of Holdings or (ii) the
existence (corporate or otherwise) of the Borrower is terminated as a result of a merger,
acquisition or consolidation with or into an Affiliate of Holdings, either of Holdings or such
Affiliate shall assume the Loans and all other Obligations hereunder;  provided  that (A) the
Administrative Agent shall have received an assumption agreement duly executed by Holdings or such
Affiliate, as the case may be, evidencing such assumption, and a favorable legal opinion

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of counsel to Holdings or such Affiliate, as the case may be, with regard to corporate power
and authority to enter into such assumption agreement and the due execution, due delivery, due
authorization and enforceability thereof, such assumption agreement and legal opinion to be in form
and substance satisfactory to the Administrative Agent, (B) the execution, delivery and performance
by Holdings or such Affiliate, as the case may be, of such assumption agreement shall have been
duly authorized by all necessary action, (C) in the case of an assumption by such Affiliate, such
assumption agreement shall have been consented to by Holdings in writing and Holdings shall have
agreed in writing that the Guaranty hereunder shall be valid and enforceable and shall not be
impaired or limited by the execution or effectiveness of such assumption and (D) such assumption
would not materially impair the Administrative Agent’s or any Lender’s rights and remedies under
the Loan Documents.

ARTICLE VII

NEGATIVE COVENANTS

     As long as any Loan remains unpaid or any other Obligation remains unpaid or unperformed, or
any commitment to make Loans remains in effect, Holdings shall not, and shall cause each of its
Subsidiaries to not, unless the Majority Lenders otherwise consent in writing:

     7.01 Type of Business. Make any substantial change in the present character
of the business of Holdings and its Subsidiaries, taken as a whole.

     7.02 Liens. Create, incur, assume or permit to exist any Lien upon any of its
property or assets (other than Unrestricted Margin Stock) now owned or hereafter acquired if the
aggregate obligations secured by all such Liens exceeds, or would exceed (giving effect to any
proposed new Lien) an amount equal to 10% of Consolidated Net Worth, except:

     (a) Liens for taxes not delinquent or being contested in good faith by appropriate proceedings
in accordance with  Section 6.04;

     (b) Liens arising in connection with workers’ compensation, unemployment insurance or social
security obligations;

     (c) mechanics’, workmen’s, materialmen’s, landlords’, carriers’, or other like Liens arising
in the ordinary course of business with respect to obligations which are not due or which are being
contested in good faith by appropriate proceedings;

     (d) minor Liens which do not in the aggregate materially detract from the value of its
property or assets or materially impair their use in the operation of the business of Holdings or
any of its Subsidiaries;

     (e) Liens in existence on property at the time of its acquisition by Holdings or any of its
Subsidiaries;

     (f) Liens under the Loan Documents; and

     (g) purchase money Liens in connection with nonrecourse tax sale and leaseback transactions.

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     7.03 Investments. Make or permit to exist any Investment in any Person,
except:

     (a) credit extended in connection with the sale of goods or rendering of services in the
ordinary course of business;

     (b) Investments in a Consolidated Subsidiary;

     (c) Acquisitions;

     (d) Investments consisting of Cash Equivalents;

     (e) Investments that individually or in the aggregate would not result in a Material Adverse
Effect; and

     (f) Investments in corporations, joint ventures, partnerships and other Persons not
majority-owned by Holdings and its Subsidiaries in an aggregate amount not exceeding 5% of
Consolidated Net Worth in the aggregate.

     7.04 Contingent Obligations. Incur or permit to exist any Contingent
Obligation if the aggregate of all Contingent Obligations exceeds, or would exceed (giving effect
to any proposed new Contingent Obligation) an amount equal to 5% of Consolidated Net Worth,
except the endorsement of negotiable instruments in the ordinary course of collection.

     7.05 Subordinated Debt. Make any principal prepayment on any Subordinated
Debt or, if and so long as a Default or an Event of Default exists, any payment of principal or
interest on any Subordinated Debt.

     7.06 Sale of Assets or Merger. Sell or otherwise dispose of all or
substantially all of its assets (other than Unrestricted Margin Stock), or merge with any other
corporation unless Holdings or one of its Subsidiaries is the surviving corporation except
that the sale of all or substantially all of the assets of any Subsidiary, or the merger of any
Subsidiary when it is not the surviving corporation shall not violate this Section 7.06 if
the assets of such Subsidiary are not material in relation to the assets of Holdings and its
Subsidiaries, taken as a whole.

     7.07 Financial Covenants.

     (a) Not permit the Leverage Ratio to exceed 3.50 to 1.00 at any time; and

     (b) Not permit the ratio of Consolidated Earnings Before Interest and Taxes to Consolidated
Interest to be less than 3.50 to 1.00 at any time.

     7.08 Use of Proceeds. Use any portion of the Loan proceeds, in any manner
that might cause the Loan or the application of such proceeds to violate Regulation U, Regulation T
or Regulation X of the FRB or any other regulation of the FRB or to violate the Securities Exchange
Act of 1934, as amended, in each case as in effect on the date or dates of such Loan and such use
of proceeds.

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ARTICLE VIII

EVENTS OF DEFAULT AND REMEDIES

     8.01 Events of Default. There will be a default hereunder if any one or more
of the following events (“Events of Default ”) occurs and is continuing, whatever the reason
therefor:

     (a) failure of the Borrower to pay any installment of principal when due or to pay interest
hereunder or any fee or other amounts due to any Lender hereunder within three Business Days after
the date when due; or

     (b) any Loan Party fails to perform or observe any other term, covenant, or agreement
contained in any Loan Document to which it is a party within 30 days after the date performance is
due; or

     (c) any representation or warranty in any Loan Document or in any certificate, agreement,
instrument, or other document made or delivered pursuant to or in connection with any Loan Document
proves to have been incorrect when made in any material respect; or

     (d) (i) Holdings or any of its Subsidiaries (1) fails to pay the principal, or any principal
installment, or any present or future Debt for borrowed money, or any guaranty of present or future
Debt for borrowed money, within 10 days of the date when due (or within any longer stated grace
period), whether at the stated maturity, upon acceleration, by reason of required prepayment or
otherwise in excess of $50,000,000, or (2) fails to perform or observe any other term, covenant, or
agreement on its part to be performed or observed in connection with any present or future Debt for
borrowed money, or any guaranty of present or future Debt for borrowed money, in excess of
$50,000,000, if as a result of such failure any holder or holders thereof (or an agent or trustee
on its or their behalf) has the right to declare it due before the date on which it otherwise would
become due, or (ii) any default or event of default pursuant to that certain First Amended and
Restated Revolving Credit Agreement, dated as of August 10, 2007, by and among Holdings, the
lenders party thereto, Citicorp USA, Inc., as administrative agent, Bank of America, as syndication
agent, and Citigroup Global Markets Inc. and Banc of America Securities LLC, as joint lead
arrangers; or

     (e) any Loan Document, at any time after its execution and delivery and for any reason other
than the agreement of the Lenders or satisfaction in full of all the Obligations, ceases to be in
full force and effect or is declared by a court of competent jurisdiction to be null and void,
invalid, or unenforceable in any respect which is, in the reasonable opinion of the Majority
Lenders, materially adverse to the interest of the Lenders; or any Loan Party denies that it has
any or further liability or obligation under any Loan Document; or

     (f) a final judgment against Holdings or any of its Subsidiaries is entered for the payment of
money in excess of $50,000,000, and remains unsatisfied without procurement of a stay of execution
for 45 days after the date of entry of judgment or in any event later than five days prior to the
date of any proposed sale under such judgment; or

     (g) Holdings, any Domestic Subsidiary or any Significant Subsidiary is the subject of an order
for relief by a bankruptcy court, or is unable or admits in writing its inability

39

 

to pay its debts as they mature, or makes an assignment for the benefit of creditors; or
applies for or consents to the appointment of any receiver, trustee, custodian, conservator,
liquidator, rehabilitator, or similar officer for it or for all or any part of its property; or any
receiver, trustee, custodian, conservator, liquidator, rehabilitator, or similar officer is
appointed without the application or consent of that entity and the appointment continues
undischarged or unstayed for 60 days; or institutes or consents to any bankruptcy, proposal in
bankruptcy, insolvency, reorganization, arrangement, readjustment of debt, dissolution,
custodianship, conservatorship, liquidation, rehabilitation, or similar proceeding relating to it
or to all or any part of its property under the laws of any jurisdiction; or any similar proceeding
is instituted without the consent of that entity and continues undismissed or unstayed for 60 days;
or any judgment, writ, warrant of attachment or execution, or similar process is issued or levied
against all or any part of the property of any such entity in an amount in excess of 10% of the
total assets of such entity, and is not released, vacated, or fully bonded within sixty (60) days
after its issue or levy, or Holdings, any Domestic Subsidiary or any Significant Subsidiary shall
take any corporate action to authorize any of the actions set forth above in this subsection
(g).

     8.02 Remedies upon Event of Default. (a) Upon the occurrence of any Event of
Default (other than an Event of Default described in Section 8.01(g)): (i) all commitments
to make Loans may be terminated by the Majority Lenders without notice to or demand upon the
Borrower, which are expressly waived by the Borrower and (ii) the Majority Lenders may declare the
unpaid principal of or unperformed balance of all Obligations due to the Lenders hereunder, all
interest accrued and unpaid thereon, and all other amounts payable under the Loan Documents to be
forthwith due and payable, whereupon the same shall become and be forthwith due and payable,
without protest, presentment, notice of dishonor, demand, or further notice of any kind, all of
which are expressly waived by the Borrower.

     (b) Upon the occurrence of any Event of Default described in Section 8.01(g): (i) all
commitments to make Loans shall terminate without notice to or demand upon the Borrower, which are
expressly waived by the Borrower; and (ii) the unpaid principal of or unperformed balance of all
Obligations due to the Lenders hereunder, and all interest accrued and unpaid on such Obligations
shall be forthwith due and payable, without protest, presentment, notice of dishonor, demand, or
further notice of any kind, all of which are expressly waived by the Borrower.

     (c) Upon the occurrence of an Event of Default and acceleration of the unpaid principal of or
unperformed balance of all Obligations due to the Lenders hereunder, as provided in Sections
8.02(a) or (b), the Administrative Agent and the Lenders, or any of them, without
notice to or demand upon the Borrower, which are expressly waived by the Borrower, may proceed to
protect, exercise, and enforce their rights and remedies under the Loan Documents against the
Borrower and such other rights and remedies as are provided by law or equity. The order and manner
in which the rights and remedies of the Administrative Agent and the Lenders under the Loan
Documents and otherwise may be protected, exercised, or enforced shall be determined by the
Majority Lenders.

     (d) All payments received by the Administrative Agent and the Lenders, or any of them, shall
be applied: first to the costs and expenses (including attorneys fees and disbursements) of
the Administrative Agent, acting as Administrative Agent, and of the Lenders;

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and thereafter to the Lenders pro rata according to the unpaid principal amount of the
Loans held by each Lender. Regardless of how any Lender may treat the payments for the purpose of
its own accounting, for the purpose of computing the Borrower’s Obligations hereunder, the payments
shall be applied: first, to the payment of accrued and unpaid fees provided for hereunder
and interest on all Obligations to and including the date of such application; second, to
the ratable payment of the unpaid principal of all Loans; and third, to the payment of all
other amounts then owing to the Lenders under the Loan Documents. No application of the payments
will cure any Event of Default or prevent acceleration, or continued acceleration, of amounts
payable under the Loan Documents or prevent the exercise, or continued exercise, of rights or
remedies of the Administrative Agent or Lenders hereunder or under applicable Laws.

ARTICLE IX

ADMINISTRATIVE AGENT

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

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

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

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

     (b) shall not have any duty to take any discretionary action or exercise any
discretionary powers, except discretionary rights and powers expressly contemplated hereby
or by the other Loan Documents that the Administrative Agent is required to exercise as
directed in writing by the Majority 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

41

 

action that, in its opinion or the opinion of its counsel, may expose the
Administrative Agent to liability or that is contrary to any Loan Document or applicable
law; and

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

     The Administrative Agent shall not be liable for any action taken or not taken by it (i) with
the consent or at the request of the Majority Lenders (or such other number or percentage of the
Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be
necessary, under the circumstances as provided in Sections 11.01 and 8.02) or (ii)
in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall
be deemed not to have knowledge of any Default unless and until notice describing such Default is
given to the Administrative Agent by the Borrower or a Lender.

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

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

     9.05 Delegation of Duties. The Administrative Agent may perform any and all
of its duties and exercise its rights and powers hereunder or under any other Loan Document by or
through any one or more sub-agents appointed by the Administrative Agent.

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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 provided for herein as well as activities as Administrative
Agent.

     9.06 Resignation of Administrative Agent. The Administrative Agent may at any
time give notice of its resignation to the Lenders and the Borrower. Upon receipt of any such
notice of resignation, the Majority Lenders shall have the right, in consultation with the
Borrower, 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 Majority Lenders and shall have accepted such appointment within 30 days
after the retiring Administrative Agent gives notice of its resignation, then the retiring
Administrative Agent may on behalf of the Lenders, appoint a successor Administrative Agent meeting
the qualifications set forth above; provided that if the Administrative Agent shall notify the
Borrower and the Lenders that no qualifying Person has accepted such appointment, then such
resignation shall nonetheless become effective in accordance with such notice and (a) the retiring
Administrative Agent shall be discharged from its duties and obligations hereunder and under the
other Loan Documents and (b) 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 directly,
until such time as the Majority Lenders appoint a successor Administrative Agent as provided for
above in this Section. Upon the acceptance of a successor’s appointment as Administrative Agent
hereunder, such successor shall succeed to and become vested with all of the rights, powers,
privileges and duties of the retiring (or retired) Administrative Agent, and the retiring
Administrative Agent shall be discharged from all of its duties and obligations hereunder or under
the other Loan Documents (if not already discharged therefrom as provided above in this Section).
The fees payable by the Borrower to a successor Administrative Agent shall be the same as those
payable to its predecessor unless otherwise agreed between the Borrower and such successor. After
the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the
provisions of this Article and Section 11.04 shall continue in effect for the benefit of
such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect
of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent
was acting as Administrative Agent.

     9.07 Non-Reliance on Administrative Agent and Other Lenders. Each 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 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.

     9.08 No Other Duties, Etc. Anything herein to the contrary notwithstanding,
none of the Joint Lead Arrangers listed on the cover page hereof shall have any powers, duties or

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responsibilities under this Agreement or any of the other Loan Documents, except in its
capacity, as applicable, as the Administrative Agent or a Lender hereunder.

     9.09 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 Loan
Party, the Administrative Agent (irrespective of whether the principal of any Loan 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 Borrower) shall be entitled and empowered,
by intervention in such proceeding or otherwise

     (a) to file and prove a claim for the whole amount of the principal and interest owing
and unpaid in respect of the Loans and all other Obligations that are owing and unpaid and
to file such other documents as may be necessary or advisable in order to have the claims of
the Lenders and the Administrative Agent (including any claim for the reasonable
compensation, expenses, disbursements and advances of the Lenders and the Administrative
Agent and their respective agents and counsel and all other amounts due the Lenders and the
Administrative Agent under Sections 2.07 and 11.04) allowed in such judicial
proceeding; and

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

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Lender to make such payments to the
Administrative Agent and, if the Administrative Agent shall consent to the making of such payments
directly to the 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 2.07 and
11.04.

     Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or
consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement,
adjustment or composition affecting the Obligations or the rights of any Lender to authorize the
Administrative Agent to vote in respect of the claim of any Lender or in any such proceeding.

ARTICLE X

CONTINUING GUARANTY

     10.01 Guaranty. Holdings hereby absolutely and unconditionally guarantees, as
a guaranty of payment and performance and not merely as a guaranty of collection, prompt payment
when due, whether at stated maturity, by required prepayment, upon acceleration, demand or
otherwise, and at all times thereafter, of any and all of the Obligations, whether for principal,
interest, premiums, fees, indemnities, damages, costs, expenses or otherwise, of the Borrower to
the Guarantied Parties, arising hereunder and under the other Loan Documents (including all
renewals, extensions, amendments, refinancings and other modifications thereof and all costs,
attorneys’ fees and expenses incurred by the Guarantied Parties in connection with

44

 

the collection or enforcement thereof). The Administrative Agent’s books and records showing
the amount of the Obligations shall be admissible in evidence in any action or proceeding, and
shall be binding upon Holdings, and conclusive for the purpose of establishing the amount of the
Obligations. This Guaranty shall not be affected by the validity, regularity or enforceability of
the Obligations or any instrument or agreement evidencing any Obligations, or by any fact or
circumstance relating to the Obligations which might otherwise constitute a defense to the
obligations of Holdings under this Guaranty, and Holdings hereby irrevocably waives any defenses it
may now have or hereafter acquire in any way relating to any or all of the foregoing.

     10.02 Rights of Lenders. Holdings consents and agrees that the Guarantied
Parties may, at any time and from time to time, without notice or demand, and without affecting the
enforceability or continuing effectiveness hereof: (a) amend, extend, renew, compromise,
discharge, accelerate or otherwise change the time for payment or the terms of the Obligations or
any part thereof; (b) take, hold, exchange, enforce, waive, release, fail to perfect, sell, or
otherwise dispose of any security for the payment of this Guaranty or any Obligations; and (c)
release or substitute one or more of any endorsers or other guarantors of any of the Obligations.
Without limiting the generality of the foregoing, Holdings consents to the taking of, or failure to
take, any action which might in any manner or to any extent vary the risks of Holdings under this
Guaranty or which, but for this provision, might operate as a discharge of Holdings.

     10.03 Certain Waivers. Holdings waives (a) any defense arising by reason of
any disability or other defense of the Borrower or any other guarantor, or the cessation from any
cause whatsoever (including any act or omission of any Guarantied Party) of the liability of the
Borrower; (b) any defense based on any claim that Holdings’ obligations exceed or are more
burdensome than those of the Borrower; (c) the benefit of any statute of limitations affecting
Holdings’ liability hereunder; (d) any right to proceed against the Borrower, proceed against or
exhaust any security for the Obligations, or pursue any other remedy in the power of any Guarantied
Party whatsoever; (e) any benefit of and any right to participate in any security now or hereafter
held by any Guarantied Party; and (f) to the fullest extent permitted by law, any and all other
defenses or benefits that may be derived from or afforded by applicable law limiting the liability
of or exonerating guarantors or sureties. Holdings expressly waives all setoffs and counterclaims
and all presentments, demands for payment or performance, notices of nonpayment or nonperformance,
protests, notices of protest, notices of dishonor and all other notices or demands of any kind or
nature whatsoever with respect to the Obligations, and all notices of acceptance of this Guaranty
or of the existence, creation or incurrence of new or additional Obligations. Holdings waives any
rights and defenses that are or may become available to Holdings by reason of §§ 2787 to 2855,
inclusive, and §§ 2899 and 3433 of the California Civil Code.

     10.04 Obligations Independent. The obligations of Holdings hereunder are
those of primary obligor, and not merely as surety, and are independent of the Obligations and the
obligations of any other guarantor, and a separate action may be brought against Holdings to
enforce this Guaranty whether or not the Borrower or any other person or entity is joined as a
party.

     10.05 Subrogation. Holdings shall not exercise any right of subrogation,
contribution, indemnity, reimbursement or similar rights with respect to any payments it makes

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under this Guaranty until all of the Obligations and any amounts payable under this Guaranty
have been indefeasibly paid and performed in full and the Commitments and the Loans are terminated.
If any amounts are paid to Holdings in violation of the foregoing limitation, then such amounts
shall be held in trust for the benefit of the Guarantied Parties and shall forthwith be paid to the
Guarantied Parties to reduce the amount of the Obligations, whether matured or unmatured.

     10.06 Termination; Reinstatement. This Guaranty is a continuing and
irrevocable guaranty of all Obligations now or hereafter existing and shall remain in full force
and effect until all Obligations and any other amounts payable under this Guaranty are indefeasibly
paid in full in cash and the Commitments and the Loans are terminated. Notwithstanding the
foregoing, this Guaranty shall continue in full force and effect or be revived, as the case may be,
if any payment by or on behalf of the Borrower or Holdings is made, or any of the Guarantied
Parties exercises its right of setoff, in respect of the Obligations and such payment or the
proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent
or preferential, set aside or required (including pursuant to any settlement entered into by any of
the Guarantied Parties in their discretion) to be repaid to a trustee, receiver or any other party,
in connection with any proceeding under any Debtor Relief Laws or otherwise, all as if such payment
had not been made or such setoff had not occurred and whether or not the Guarantied Parties are in
possession of or have released this Guaranty and regardless of any prior revocation, rescission,
termination or reduction. The obligations of Holdings under this paragraph shall survive
termination of this Guaranty.

     10.07 Subordination. Until the Commitments have been terminated and the
Obligations indefeasibly repaid, satisfied or discharged in full, Holdings hereby subordinates the
payment of all obligations and Debt of the Borrower owing to Holdings, whether now existing or
hereafter arising, including but not limited to any obligation of the Borrower to Holdings as
subrogee of the Guarantied Parties or resulting from Holdings’ performance under this Guaranty, to
the indefeasible payment in full in cash of all Obligations. If the Guarantied Parties so request,
any such obligation or Debt of the Borrower to Holdings shall be enforced and performance received
by Holdings as trustee for the Guarantied Parties and the proceeds thereof shall be paid over to
the Guarantied Parties on account of the Obligations, but without reducing or affecting in any
manner the liability of Holdings under this Guaranty.

     10.08 Stay of Acceleration. If acceleration of the time for payment of any of
the Obligations is stayed, in connection with any case commenced by or against Holdings or the
Borrower under any Debtor Relief Laws, or otherwise, all such amounts shall nonetheless be payable
by Holdings immediately upon demand by the Guarantied Parties.

     10.09 Condition of the Borrower. Holdings acknowledges and agrees that it has
the sole responsibility for, and has adequate means of, obtaining from the Borrower and any other
guarantor such information concerning the financial condition, business and operations of the
Borrower and any such other guarantor as Holdings requires, and that none of the Guarantied Parties
has any duty, and Holdings is not relying on the Guarantied Parties at any time, to disclose to
Holdings any information relating to the business, operations or financial condition of the
Borrower or any other guarantor (Holdings waiving any duty on the part of the Guarantied Parties to
disclose such information and any defense relating to the failure to provide the same).

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ARTICLE XI

MISCELLANENOUS

     11.01 Amendments, Etc. No amendment, modification, supplement, termination,
or waiver of any provision of this Agreement or any other Loan Document, and no consent to any
departure by the Borrower or any other Loan Party therefrom, may in any event be effective unless
in writing signed by the Administrative Agent with the written approval of the Majority Lenders,
and then only in the specific instance and for the specific purpose given; and without the approval
in writing of all the Lenders, no amendment, modification, supplement, termination, waiver, or
consent may be effective:

     (a) to reduce the principal of, or the amount of principal, principal prepayments, or the rate
of interest payable on, any Obligation or increase the amount of any Commitment or decrease the
amount of any fee payable to any Lender;

     (b) to postpone any date fixed for any payment of principal of, prepayment of principal of, or
any installment of interest on, any Obligation or any installment of any fee or to extend the term
of any Commitment;

     (c) to amend or modify the provisions of (i) the definitions of “Commitment” or “Majority
Lenders” in Section 1.01, or (ii) this Section 11.01, Sections 2.11,
11.08 or 11.17 or Article VIII;

     (d) to amend or modify any provision of this Agreement that expressly requires the consent or
approval of all the Lenders; or

     (e) to release the Guaranty;

and provided, further, that no amendment, waiver or consent shall, unless in
writing and signed by the Administrative Agent in addition to the Majority Lenders or all the
Lenders, as the case may be, affect the rights or duties of the Administrative Agent under this
Agreement or any other Loan Document. Any amendment, modification, supplement, termination, waiver
or consent pursuant to this Section 11.01 shall apply equally to and be binding upon, all
of the Lenders. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have
any right to approve or disapprove any amendment, waiver or consent hereunder, except that the
Commitment of such Lender may not be increased or extended without the consent of such Lender.

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

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     (i) if to Holdings, the Borrower or the Administrative Agent, to the address,
telecopier number, electronic mail address or telephone number specified for such Person on
Schedule 11.02; and

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

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

     (b) Electronic Communications. Notices and other communications to the Lenders
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 pursuant to Article II if such
Lender has notified the Administrative Agent that it is incapable of receiving notices under such
Article by electronic communication. The Administrative Agent or the Borrower may, in its
discretion, agree to accept notices and other communications to it hereunder by electronic
communications pursuant to procedures approved by it, provided that approval of such
procedures may be limited to particular notices or communications.

     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), provided that if such notice or other
communication is not sent during the normal business hours of the recipient, such notice or
communication shall be deemed to have been sent at the opening of business on the next business day
for the recipient, and (ii) notices or communications posted to an Internet or intranet website
shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as
described in the foregoing clause (i) of notification that such notice or communication is
available and identifying the website address therefor.

     (c) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT
PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR
THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE
BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR
FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE
BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its
Related Parties (collectively, the “Agent Parties”) have any liability to Holdings, the
Borrower, any Lender or any other Person for losses, claims, damages, liabilities

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or expenses of any kind (whether in tort, contract or otherwise) arising out of the Borrower’s
or the Administrative Agent’s transmission of Loan Party Materials through the Internet, except to
the extent that such losses, claims, damages, liabilities or expenses are determined by a court of
competent jurisdiction by a final and nonappealable judgment to have resulted from the gross
negligence or willful misconduct of such Agent Party; provided, however, that in no
event shall any Agent Party have any liability to Holdings, the Borrower, any Lender or any other
Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct
or actual damages).

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

     (e) Reliance by Administrative Agent and Lenders. The Administrative Agent and the
Lenders shall be entitled to rely and act upon any notices (including telephonic Committed Loan
Notices) purportedly given by or on behalf of the Borrower even if (i) such notices were not made
in a manner specified herein, were incomplete or were not preceded or followed by any other form of
notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any
confirmation thereof. The Borrower shall indemnify the Administrative Agent, each Lender and the
Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the
reliance by such Person on each notice purportedly given by or on behalf of the Borrower. All
telephonic notices to and other telephonic communications with the Administrative Agent may be
recorded by the Administrative Agent, and each of the parties hereto hereby consents to such
recording.

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

     11.04 Expenses; Indemnity; Damage Waiver. (a) Costs and
Expenses. The Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the
Administrative Agent and its Affiliates (including the reasonable fees, charges and disbursements
of counsel for the Administrative Agent), in connection with the syndication of the credit facility
provided for herein, the preparation, negotiation, execution, delivery and administration of this
Agreement and the other Loan Documents or any amendments, modifications or waivers of the
provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall
be

49

 

consummated), and (ii) all out-of-pocket expenses incurred by the Administrative Agent or any
Lender (including the fees, charges and disbursements of any counsel for the Administrative Agent
or any Lender), and shall pay all fees and time charges for attorneys who may be employees of the
Administrative Agent or any 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 Loans made hereunder, including all such out-of-pocket expenses
incurred during any workout, restructuring or negotiations in respect of such Loans.

     (b) Indemnification by the Borrower. The Borrower shall indemnify the Administrative
Agent (and any sub-agent thereof) each Lender, and each Related Party of any of the foregoing
Persons (each such Person being called an “Indemnitee”) from and against: (i) any and all
claims, demands, actions or causes of action that are asserted against any Indemnitee by any Person
(other than the Administrative Agent or any Lender) relating directly or indirectly to a claim,
demand, action or cause of action that such Person asserts or may assert against the Borrower, any
Affiliate of the Borrower or any of their respective officers or directors which arises out of or
in connection with the Loan Documents, the use of Loan proceeds or the transactions contemplated
thereby; (ii) any and all claims, demands, actions or causes of action that may at any time
(including at any time following repayment of the Obligations and the resignation or removal of the
Administrative Agent or the replacement of any Lender) be asserted or imposed against any
Indemnitee, arising out of or relating to, the Loan Documents, any predecessor loan documents, the
Commitments, the use or contemplated use of the proceeds of any Loan, or the relationship of the
Borrower, the Administrative Agent, and the Lenders under this Agreement or any other Loan
Document; (iii) any administrative or investigative proceeding by any Governmental Authority
arising out of or related to a claim, demand, action or cause of action described in subsection
(i) or (ii) above; and (iv) any and all liabilities (including liabilities under indemnities),
losses, damages, penalties, costs or expenses (including, without limitation, attorney’s fees and
disbursements and the allocated cost of in-house counsel) that any Indemnitee suffers or incurs as
a result of the assertion of any foregoing claim, demand, action, cause of action or proceeding, or
as a result of the preparation of any defense in connection with any foregoing claim, demand,
action, cause of action or proceeding, and whether or not an Indemnitee is a party to such claim,
demand, action, cause of action or proceeding; provided that such indemnity shall not, as
to any Indemnitee, be available to the extent that such losses, claims, damages, penalties,
liabilities or related costs or 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 (y) result from a claim brought by the Borrower or any other Loan Party
against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under
any other Loan Document, if the Borrower or such Loan Party has obtained a final and nonappealable
judgment in its favor on such claim as determined by a court of competent jurisdiction.

     (c) Reimbursement by Lenders. To the extent that the Borrower for any reason fails to
indefeasibly pay any amount required under subsection (a) or (b) of this Section to
be paid by it to the Administrative Agent (or any sub-agent thereof), or any Related Party of any
of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such
sub-agent), or such Related Party, as the case may be, such Lender’s Applicable Percentage
(determined as of the time that the applicable unreimbursed expense or indemnity payment is

50

 

sought) of such unpaid amount, provided that the unreimbursed expense or indemnified
loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted
against the Administrative Agent (or any such sub-agent) 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)
in connection with such capacity. The obligations of the Lenders under this subsection (c)
are subject to the provisions of Section 2.10(d).

     (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by
applicable law, the Borrower 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 the use of the proceeds thereof. No Indemnitee
referred to in subsection (b) above shall be liable for any damages arising from the use by
unintended recipients of any information or other materials distributed to such unintended
recipients by such Indemnitee 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 other than for direct or actual damages resulting from
the gross negligence or willful misconduct of such Indemnitee as determined by a final and
nonappealable judgment of a court of competent jurisdiction.

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

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

     11.05 Payments Set Aside. To the extent that any payment by or on behalf of
the Borrower is made to the Administrative Agent, or any Lender, or the Administrative Agent, or
any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any
part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or
required (including pursuant to any settlement entered into by the Administrative Agent, or such
Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection
with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such
recovery, the obligation or part thereof originally intended to be satisfied shall be revived and
continued in full force and effect as if such payment had not been made or such setoff had not
occurred, and (b) each Lender severally agrees to pay to the Administrative Agent upon demand its
applicable share (without duplication) of any amount so recovered from or repaid by the
Administrative Agent, plus interest thereon from the date of such demand to the date such payment
is made at a rate per annum equal to the Federal Funds Rate from time to time in effect. The
obligations of the Lenders under clause (b) of the preceding sentence shall survive the payment in
full of the Obligations and the termination of this Agreement.

     11.06 Successors and Assigns. (a) Successors and Assigns
Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and assigns permitted hereby, except that
neither the Borrower

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nor any other Loan Party may assign or otherwise transfer any of its rights or obligations
hereunder without the prior written consent of the Administrative Agent and each Lender and no
Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an
assignee in accordance with the provisions of Section 11.06(b), (ii) by way of
participation in accordance with the provisions of Section 11.06(d), or (iii) by way of
pledge or assignment of a security interest subject to the restrictions of Section 11.06(f)
(and any other attempted assignment or transfer by any party hereto shall be null and void).
Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person
(other than the parties hereto, their respective successors and assigns permitted hereby,
Participants to the extent provided in subsection (d) of this Section and, to the extent
expressly contemplated hereby, the Related Parties of each of the Administrative Agent 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, with, so long as no
Event of Default has occurred and is continuing, the consent of the Borrower (which consent may be
given or withheld in the Borrower’s sole discretion) to one or more Eligible Assignees all or a
portion of its rights and obligations under this Agreement (including all or a portion of its
Commitment and the Loans at the time owing to it); provided that (i) except in the case of
an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at
the time owing to it or in the case of an assignment to a Lender or an Affiliate of a Lender or an
Approved Fund with respect to a Lender, the aggregate amount of the Commitment (which for this
purpose includes Loans outstanding thereunder) 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, or that is in an integral multiple of $1,000,000 in
excess thereof, unless each of the Administrative Agent and, so long as no Event of Default has
occurred and is continuing, the Borrower otherwise consents (each such consent to be within the
discretion of the consenting party), (ii) 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 Loans or the Commitment assigned, (iii) the parties to each assignment shall execute
and deliver to the Administrative Agent an Assignment and Assumption, together with a processing
and recordation fee of $3,500 (which fee shall not be payable by the Borrower) and (iv) no consent
of the Borrower shall be required if the proposed assignment is to another Lender, an Affiliate of
a Lender or an Approved Fund with respect to a Lender unless as a result of such assignment, the
Borrower would incur an additional cost pursuant to Section 3.04, but the assigning Lender
shall give the Administrative Agent and the Borrower written notice thereof. Subject to acceptance
and recording thereof by the Administrative Agent pursuant to subsection (c) of this
Section, from and after the effective date specified in each Assignment and Assumption, the
assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned
by such Assignment and Assumption, have the rights and obligations of a Lender under this
Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by
such Assignment and Assumption, be released from its obligations under this Agreement (and, in the
case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations
under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be
entitled to the benefits of Sections 3.01, 3.04, 3.05 and 11.04
with respect to facts and circumstances occurring prior to the effective date of such assignment.
Upon request, the Borrower (at its expense) shall execute and deliver a Note

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to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under
this Agreement that does not comply with this subsection shall be treated for purposes of this
Agreement as a sale by such Lender of a participation in such rights and obligations in accordance
with Section 11.06(d).

     (c) Register. The Administrative Agent, acting solely for this purpose as an agent of
the Borrower, shall maintain at the Administrative Agent’s Office a copy of each Assignment and
Assumption delivered to it and a register for the recordation of the names and addresses of the
Lenders, and the Commitments of, and principal amounts of the Loans owing to, each Lender pursuant
to the terms hereof from time to time (the “Register”). The entries in the Register shall
be conclusive, and the Borrower, the Administrative Agent and the Lenders may treat each Person
whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all
purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be
available for inspection by the Borrower and any 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 Borrower or the Administrative Agent, sell participations to any Person (other than a natural
person or the Borrower or any of its Affiliates or Subsidiaries) (each, a “Participant”) in
all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or
a portion of its Commitment and/or the Loans owing to it); provided that (i) such Lender’s
obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely
responsible to the other parties hereto for the performance of such obligations and (iii) the
Borrower, the Administrative Agent, and the Lenders shall continue to deal solely and directly with
such Lender in connection with such Lender’s rights and obligations under this Agreement. Any
agreement or instrument pursuant to which a Lender sells such a participation shall provide that
such Lender shall retain the sole right to enforce this Agreement and to approve any amendment,
modification or waiver of any provision of this Agreement; provided that such agreement or
instrument may provide that such Lender will not, without the consent of the Participant, agree to
any amendment, waiver or other modification that would (x) postpone any date upon which any payment
of money is to be paid to such Participant or (y) reduce the principal, interest, fees or other
amounts payable to such Participant. Subject to subsection (e) of this Section, the
Borrower agrees that each Participant shall be entitled to the benefits of Sections 3.01,
3.04 and 3.05 to the same extent as if it were a Lender and had acquired its
interest by assignment pursuant to Section 11.06(b). To the extent permitted by law, each
Participant also shall be entitled to the benefits of Section 11.08 as though it were a
Lender, provided such Participant agrees to be subject to Section 2.11 as though it
were a Lender.

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

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

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

     11.07 Treatment of Certain Information; Confidentiality. Each of the
Administrative Agent and the Lenders agrees to maintain the confidentiality of the Information (as
defined below), except that Information may be disclosed (a) to its Affiliates, legal counsel,
accountants, and other professional advisors provided that such advisors and Affiliates are obliged
to hold such Information in confidence, (b) to regulatory officials having jurisdiction over it or
its Affiliates, (c) as required by law or legal process or in connection with any legal proceeding
to which it is a party provided that the Borrower is notified prior to or concurrently with any
such disclosure to the extent legally permissible, (d) to the Administrative Agent or another
Lender, and (e) 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 or any of their respective Affiliates on a nonconfidential basis from a source other than
the Borrower. This Agreement, and other confidential information as approved by the Borrower at
the time, may be disclosed, subject to an agreement containing provisions substantially the same as
those of this Section 11.07, to any Participants, Eligible Assignees, potential
Participants or potential Eligible Assignees.

     For purposes of this Section, “Information” means all confidential information
received from any Loan Party or any of its Subsidiaries relating to any Loan Party or any of its
Subsidiaries or their respective businesses, other than any such information that is available to
the Administrative Agent or any Lender on a nonconfidential basis prior to disclosure by any Loan
Party or any of its Subsidiaries. Any Person required to maintain the confidentiality of
Information as provided in this Section shall be considered to have complied with its obligation to
do so if such Person has exercised the same degree of care to maintain the confidentiality of such
Information as such Person would accord to its own confidential information.

     Each of the Administrative Agent and the Lenders acknowledges that (a) the Information may
include material non-public information concerning any Loan Party or any of its Subsidiaries, as
the case may be, (b) it has developed compliance procedures regarding the use of material
non-public information and (c) it will handle such material non-public information in accordance
with applicable Law, including United States Federal and state securities Laws.

54

 

     11.08 Right of Setoff. If an Event of Default shall have occurred and be
continuing, each 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 or
any such Affiliate to or for the credit or the account of the Borrower or Holdings against any and
all of the obligations of the Borrower or Holdings now or hereafter existing under this Agreement
or any other Loan Document to such Lender, irrespective of whether or not such Lender shall have
made any demand under this Agreement or any other Loan Document and although such obligations of
the Borrower or Holdings may be contingent or unmatured or are owed to a branch or office of such
Lender different from the branch or office holding such deposit or obligated on such indebtedness.
The rights of each Lender and their respective Affiliates under this Section are in addition to
other rights and remedies (including other rights of setoff) that such Lender or their respective
Affiliates may have. Each Lender agrees to notify the 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.

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

     11.10 Counterparts; Integration; Effectiveness. This Agreement may be
executed in counterparts (and by different parties hereto in different counterparts), each of which
shall constitute an original, but all of which when taken together shall constitute a single
contract. This Agreement and the other Loan Documents constitute the entire contract among the
parties relating to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof. Except as provided in
Section 4.01, this Agreement shall become effective when it shall have been executed by the
Administrative Agent and when the Administrative Agent shall have received counterparts hereof
that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an
executed counterpart of a signature page of this Agreement by telecopy shall be effective as
delivery of a manually executed counterpart of this Agreement.

     11.11 Survival of Representations and Warranties. All representations and
warranties made hereunder and in any other Loan Document or other document delivered pursuant
hereto or thereto or in connection herewith or therewith shall survive the execution and delivery
hereof and thereof. Such representations and warranties have been or will be relied upon by the
Administrative Agent and each Lender, regardless of any investigation made by the

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Administrative Agent or any Lender or on their behalf and notwithstanding that the
Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of
any extension of credit, and shall continue in full force and effect as long as any Loan or any
other Obligation hereunder shall remain unpaid or unsatisfied.

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

     11.13 Replacement of Lenders. If any Lender requests compensation under
Section 3.04, or if the Borrower is required to pay any additional amount to any Lender or
any Governmental Authority for the account of any Lender pursuant to Section 3.01, or if
any Lender is a Defaulting Lender, then the Borrower may, at its sole expense and effort, upon
notice to such Lender and the Administrative Agent, require such Lender to assign and delegate,
without recourse (in accordance with and subject to the restrictions contained in, and consents
required by, Section 11.06), all of its interests, rights and obligations under this
Agreement and the related Loan Documents to an assignee that shall assume such obligations (which
assignee may be another Lender, if a Lender accepts such assignment), provided that:

     (a) the Borrower shall have paid to the Administrative Agent the assignment fee
specified in Section 11.06(b);

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

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

     (d) such assignment does not conflict with applicable Laws.

     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 Borrower to
require such assignment and delegation cease to apply.

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     11.14 Governing Law; Jurisdiction; Etc. (a) GOVERNING LAW. THIS
AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF
CALIFORNIA.

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

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

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

     11.15 Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY
LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS

57

 

AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY
(WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT
SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS
AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
CERTIFICATIONS IN THIS SECTION.

     11.16 California Judicial Reference. If any action or proceeding is filed in a
court of the State of California by or against any party hereto in connection with any of the
transactions contemplated by this Agreement or any other Loan Document, (a) the court shall, and is
hereby directed to, make a general reference pursuant to California Code of Civil Procedure Section
638 to a referee (who shall be a single active or retired judge) to hear and determine all of the
issues in such action or proceeding (whether of fact or of law) and to report a statement of
decision, provided that at the option of any party to such proceeding, any such issues pertaining
to a “provisional remedy” as defined in California Code of Civil Procedure Section 1281.8 shall be
heard and determined by the court, and (b) without limiting the generality of Section
11.04, the Borrower shall be solely responsible to pay all fees and expenses of any referee
appointed in such action or proceeding.

     11.17 No Advisory or Fiduciary Responsibility. In connection with all aspects
of each transaction contemplated hereby (including in connection with any amendment, waiver or
other modification hereof or of any other Loan Document), each of the Borrower and Holdings
acknowledges and agrees, and acknowledges its Affiliates’ understanding, that: (i) (A) the
arranging and other services regarding this Agreement provided by the Administrative Agent and the
Joint Lead Arrangers, are arm’s-length commercial transactions between the Borrower, Holdings and
their respective Affiliates, on the one hand, and the Administrative Agent and the Joint Lead
Arrangers, on the other hand, (B) each of the Borrower and Holdings has consulted its own legal,
accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) each of
the Borrower and Holdings is capable of evaluating, and understands and accepts, the terms, risks
and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A)
the Administrative Agent and the Joint Lead Arrangers each is and has been acting solely as a
principal and, except as expressly agreed in writing by the relevant parties, has not been, is not,
and will not be acting as an advisor, agent or fiduciary for the Borrower, Holdings or any of their
respective Affiliates, or any other Person and (B) neither the Administrative Agent nor the Joint
Lead Arrangers has any obligation to the Borrower, Holdings or any of their respective Affiliates
with respect to the transactions contemplated hereby except those obligations expressly set forth
herein and in the other Loan Documents; and (iii) the Administrative Agent and the Joint Lead
Arrangers and their respective Affiliates may be engaged in a broad range of transactions that
involve interests that differ from those of the Borrower, Holdings and their respective Affiliates,
and neither the Administrative Agent nor the Joint Lead Arrangers has any obligation to disclose
any of such interests to the Borrower, Holdings or any of their respective Affiliates. To the
fullest extent permitted by law, each of the Borrower and Holdings hereby waives and releases any
claims that it may have against the

58

 

Administrative Agent and the Joint Lead Arrangers with respect to any breach or alleged breach
of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby.

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

[Remainder of page intentionally left blank.]

59

 

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

	 	 	 	 	 	 	 
	 	 	AVERY DENNISON OFFICE PRODUCTS COMPANY, as the Borrower	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	AVERY DENNISON CORPORATION, as Holdings, as guarantor	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

S-1

 

	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A., as 

Administrative Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

S-2

 

	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A., as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

S-3

 

SCHEDULE 2.01

COMMITMENTS AND APPLICABLE PERCENTAGES

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Pro Rata
	Bank	 	Commitment	 	Share of Commitment
	Bank of America, N.A.

	 	$	49,500,000	 	 	 	12.375000000	%
	JPMorgan Chase Bank, N.A.

	 	$	49,500,000	 	 	 	12.375000000	%
	Barclays Bank PLC

	 	$	47,000,000	 	 	 	11.750000000	%
	Citicorp USA, Inc.

	 	$	47,000,000	 	 	 	11.750000000	%
	Wachovia Bank, N.A.

	 	$	47,000,000	 	 	 	11.750000000	%
	Bank of China, New York Branch

	 	$	20,000,000	 	 	 	5.000000000	%
	Bank of China, Los Angeles Branch

	 	$	10,000,000	 	 	 	2.500000000	%
	ABM AMRO Bank N.V.

	 	$	25,000,000	 	 	 	6.250000000	%
	Sumitomo Mitsui Banking Corporation

	 	$	25,000,000	 	 	 	6.250000000	%
	First Hawaiian Bank

	 	$	15,000,000	 	 	 	3.750000000	%
	HSBC Bank USA, National Association

	 	$	15,000,000	 	 	 	3.750000000	%
	Standard Chartered Bank

	 	$	15,000,000	 	 	 	3.750000000	%
	Wells Fargo Bank, N.A.

	 	$	15,000,000	 	 	 	3.750000000	%
	E. Sun Commercial Bank, Ltd., Los
Angeles Branch

	 	$	10,000,000	 	 	 	2.500000000	%
	Malayan Banking Berhad

	 	$	10,000,000	 	 	 	2.500000000	%
	Total

	 	$	400,000,000	 	 	 	100.000000000	%

Schedule 2.01-1

 

 

SCHEDULE 5.04

SUBSIDIARIES

	 	 	 	 	 
	 	 	 	 	JURISDICTION
	 	 	 	 	IN WHICH
	 	 	SUBSIDIARY	 	ORGANIZED
	1.

	 	A.V. CHEMIE GMBH
	 	SWITZERLAND
	2.

	 	ADC PHILIPPINES, INC.
	 	PHILIPPINES
	3.

	 	ADESPAN S.R.L.
	 	ITALY
	4.

	 	ADESPAN U.K. LIMITED
	 	UNITED KINGDOM
	5.

	 	AUSTRACOTE PTY LTD.
	 	AUSTRALIA
	6.

	 	AVERY (CHINA) COMPANY LIMITED
	 	CHINA
	7.

	 	AVERY CORP.
	 	U.S.A.
	8.

	 	AVERY DE MEXICO S.A. DE C.V.
	 	MEXICO
	9.

	 	AVERY DENNISON HOLDINGS (MALTA) LIMITED
	 	MALTA
	10.

	 	AVERY DENNISON (ASIA) HOLDINGS LIMITED
	 	MAURITIUS
	11.

	 	AVERY DENNISON (BANGLADESH) LTD.
	 	BANGLADESH
	12.

	 	AVERY DENNISON (FIJI) LIMITED
	 	FIJI
	13.

	 	AVERY DENNISON (FUZHOU) CONVERTED PRODUCTS LIMITED
	 	CHINA
	14.

	 	AVERY DENNISON (GUANGZHOU) CO. LTD.
	 	CHINA
	15.

	 	AVERY DENNISON (GUANGZHOU) CONVERTED PRODUCTS LIMITED
	 	CHINA
	16.

	 	AVERY DENNISON (HONG KONG) LIMITED
	 	HONG KONG
	17.

	 	AVERY DENNISON (INDIA) PRIVATE LIMITED
	 	INDIA
	18.

	 	AVERY DENNISON (IRELAND) LIMITED
	 	IRELAND
	19.

	 	AVERY DENNISON (KUNSHAN) CO., LIMITED
	 	CHINA
	20.

	 	AVERY DENNISON (MALAYSIA) SDN. BHD.
	 	MALAYSIA
	21.

	 	AVERY DENNISON (QINGDAO) CONVERTED PRODUCTS LIMITED
	 	CHINA
	22.

	 	AVERY DENNISON (SUZHOU) CO. LIMITED
	 	CHINA
	23.

	 	AVERY DENNISON (THAILAND) LTD.
	 	THAILAND
	24.

	 	AVERY DENNISON (VIETNAM) LIMITED
	 	VIETNAM
	25.

	 	AVERY DENNISON AUSTRALIA GROUP HOLDINGS PTY LIMITED
	 	AUSTRALIA
	26.

	 	AVERY DENNISON AUSTRALIA INTERNATIONAL HOLDINGS PTY
LTD.
	 	AUSTRALIA
	27.

	 	AVERY DENNISON AUSTRALIA PTY LTD.
	 	AUSTRALIA
	28.

	 	AVERY DENNISON BELGIE BVBA
	 	BELGIUM
	29.

	 	AVERY DENNISON BV
	 	NETHERLANDS
	30.

	 	AVERY DENNISON C.A.
	 	VENEZUELA
	31.

	 	AVERY DENNISON CANADA INC.
	 	CANADA
	32.

	 	AVERY DENNISON CHILE S.A.
	 	CHILE
	33.

	 	AVERY DENNISON COLOMBIA S. A.
	 	COLOMBIA
	34.

	 	AVERY DENNISON CONVERTED PRODUCTS DE MEXICO, S.A. DE
C.V.
	 	MEXICO
	35.

	 	AVERY DENNISON CONVERTED PRODUCTS EL SALVADOR S. A.
DE C. V.
	 	EL SALVADOR
	36.

	 	AVERY DENNISON COORDINATION CENTER BVBA
	 	BELGIUM
	37.

	 	AVERY DENNISON DE ARGENTINA S.A.
	 	ARGENTINA
	38.

	 	AVERY DENNISON DEUTSCHLAND GMBH
	 	GERMANY
	39.

	 	AVERY DENNISON DO BRASIL LTDA.
	 	BRAZIL
	40.

	 	AVERY DENNISON ETIKET TICARET LIMITED SIRKETI
	 	TURKEY
	41.

	 	AVERY DENNISON EUROPE HOLDING (DEUTSCHLAND) GMBH & CO
KG
	 	GERMANY

Schedule 5.04-1

 

 

	 	 	 	 	 
	 	 	 	 	JURISDICTION
	 	 	 	 	IN WHICH
	 	 	SUBSIDIARY	 	ORGANIZED
	42.

	 	AVERY DENNISON FINANCE BELGIUM BVBA
	 	BELGIUM
	43.

	 	AVERY DENNISON FINANCE FRANCE S. A. S.
	 	FRANCE
	44.

	 	AVERY DENNISON FINANCE GERMANY GMBH
	 	GERMANY
	45.

	 	AVERY DENNISON FINANCE LUXEMBOURG II SARL
	 	LUXEMBOURG
	46.

	 	AVERY DENNISON FINANCE LUXEMBOURG S. A. R. L.
	 	LUXEMBOURG
	47.

	 	AVERY DENNISON FOUNDATION
	 	U.S.A.
	48.

	 	AVERY DENNISON FRANCE S.A.S.
	 	FRANCE
	49.

	 	AVERY DENNISON G HOLDINGS I COMPANY
	 	U.S.A.
	50.

	 	AVERY DENNISON G HOLDINGS III COMPANY
	 	U.S.A.
	51.

	 	AVERY DENNISON G INVESTMENTS III LIMITED
	 	GIBRALTAR
	52.

	 	AVERY DENNISON G INVESTMENTS V LIMITED
	 	GIBRALTAR
	53.

	 	AVERY DENNISON GROUP DANMARK APS
	 	DENMARK
	54.

	 	AVERY DENNISON GROUP SINGAPORE (PTE) LIMITED
	 	SINGAPORE
	55.

	 	AVERY DENNISON HOLDING & FINANCE THE NETHERLANDS BV
	 	NETHERLANDS
	56.

	 	AVERY DENNISON HOLDING AG
	 	SWITZERLAND
	57.

	 	AVERY DENNISON HOLDING GMBH
	 	GERMANY
	58.

	 	AVERY DENNISON HOLDING LUXEMBOURG S. A. R. L.
	 	LUXEMBOURG
	59.

	 	AVERY DENNISON HOLDINGS LIMITED
	 	AUSTRALIA
	60.

	 	AVERY DENNISON HOLDINGS NEW ZEALAND LIMITED
	 	NEW ZEALAND
	61.

	 	AVERY DENNISON HONG KONG BV
	 	NETHERLANDS
	62.

	 	AVERY DENNISON HUNGARY LIMITED
	 	HUNGARY
	63.

	 	AVERY DENNISON IBERICA, S.A.
	 	SPAIN
	64.

	 	AVERY DENNISON INVESTMENTS LUXEMBOURG S.A.R.L.
	 	LUXEMBOURG
	65.

	 	AVERY DENNISON INVESTMENTS THE NETHERLANDS BV
	 	NETHERLANDS
	66.

	 	AVERY DENNISON ITALIA S.R.L.
	 	ITALY
	67.

	 	AVERY DENNISON KOREA LIMITED
	 	KOREA
	68.

	 	AVERY DENNISON LUXEMBOURG S.A.R.L.
	 	LUXEMBOURG
	69.

	 	AVERY DENNISON MANAGEMENT GMBH
	 	GERMANY
	70.

	 	AVERY DENNISON MANAGEMENT KGAA
	 	LUXEMBOURG
	71.

	 	AVERY DENNISON MANAGEMENT LUXEMBOURG S.A.R.L.
	 	LUXEMBOURG
	72.

	 	AVERY DENNISON MATERIALS FRANCE S.A.R.L.
	 	FRANCE
	73.

	 	AVERY DENNISON MATERIALS GMBH
	 	GERMANY
	74.

	 	AVERY DENNISON MATERIALS IRELAND LIMITED
	 	IRELAND
	75.

	 	AVERY DENNISON MATERIALS NEDERLAND BV
	 	NETHERLANDS
	76.

	 	AVERY DENNISON MATERIALS NEW ZEALAND LIMITED
	 	NEW ZEALAND
	77.

	 	AVERY DENNISON MATERIALS PTY LIMITED
	 	AUSTRALIA
	78.

	 	AVERY DENNISON MATERIALS SDN BHD
	 	MALAYSIA
	79.

	 	AVERY DENNISON MATERIALS U.K. LIMITED
	 	UNITED KINGDOM
	80.

	 	AVERY DENNISON MOROCCO SARL
	 	MOROCCO
	81.

	 	AVERY DENNISON NETHERLANDS INVESTMENT II B. V.
	 	NETHERLANDS
	82.

	 	AVERY DENNISON NETHERLANDS INVESTMENT III BV
	 	NETHERLANDS
	83.

	 	AVERY DENNISON NETHERLANDS INVESTMENT VI BV
	 	NETHERLANDS
	84.

	 	AVERY DENNISON NORDIC APS
	 	DENMARK
	85.

	 	AVERY DENNISON NORGE A/S
	 	NORWAY
	86.

	 	AVERY DENNISON OFFICE ACCESSORIES U.K. LIMITED
	 	UNITED KINGDOM
	87.

	 	AVERY DENNISON OFFICE PRODUCTS (NZ) LIMITED
	 	NEW ZEALAND
	88.

	 	AVERY DENNISON OFFICE PRODUCTS (PTY.) LTD.
	 	SOUTH AFRICA
	89.

	 	AVERY DENNISON OFFICE PRODUCTS COMPANY
	 	U.S.A.
	90.

	 	AVERY DENNISON OFFICE PRODUCTS DE MEXICO, S.A. DE C.V.
	 	MEXICO
	91.

	 	AVERY DENNISON OFFICE PRODUCTS EUROPE GMBH
	 	SWITZERLAND
	92.

	 	AVERY DENNISON OFFICE PRODUCTS FRANCE S. A. S.
	 	FRANCE
	93.

	 	AVERY DENNISON OFFICE PRODUCTS ITALIA S.R.L.
	 	ITALY
	94.

	 	AVERY DENNISON OFFICE PRODUCTS MANUFACTURING U.K. LTD.
	 	UNITED KINGDOM

Schedule 5.04-2

 

 

	 	 	 	 	 
	 	 	 	 	JURISDICTION
	 	 	 	 	IN WHICH
	 	 	SUBSIDIARY	 	ORGANIZED
	95.

	 	AVERY DENNISON OFFICE PRODUCTS PTY LIMITED
	 	AUSTRALIA
	96.

	 	AVERY DENNISON OFFICE PRODUCTS U.K. LTD.
	 	UNITED KINGDOM
	97.

	 	AVERY DENNISON OSTERREICH GMBH
	 	AUSTRIA
	98.

	 	AVERY DENNISON OVERSEAS CORPORATION
	 	U.S.A.
	99.

	 	AVERY DENNISON OVERSEAS CORPORATION (JAPAN BRANCH)
	 	JAPAN
	100.

	 	AVERY DENNISON PENSION TRUSTEE LIMITED
	 	UNITED KINGDOM
	101.

	 	AVERY DENNISON PERU S. R. L.
	 	PERU
	102.

	 	AVERY DENNISON POLSKA SP. Z O.O.
	 	POLAND
	103.

	 	AVERY DENNISON PRAHA SPOL. R. O.
	 	CZECH REPUBLIC
	104.

	 	AVERY DENNISON REFLECTIVES DO BRAZIL LTDA.
	 	BRAZIL
	105.

	 	AVERY DENNISON RETAIL INFORMATION SERVICES DE MEXICO,
S. A. DE C.V.
	 	MEXICO
	106.

	 	AVERY DENNISON RETAIL INFORMATION SERVICES DOMINICAN
REPUBLIC, S. A.
	 	DOMINICAN REPUBLIC
	107.

	 	AVERY DENNISON RETAIL INFORMATION SERVICES GUATEMALA,
S. A.
	 	GUATEMALA
	108.

	 	AVERY DENNISON RFID COMPANY
	 	U.S.A.
	109.

	 	AVERY DENNISON RINKE GMBH
	 	GERMANY
	110.

	 	AVERY DENNISON RIS KOREA LTD.
	 	KOREA
	111.

	 	AVERY DENNISON RIS LANKA (PRIVATE) LIMITED
	 	SRI LANKA
	112.

	 	AVERY DENNISON SCANDINAVIA APS
	 	DENMARK
	113.

	 	AVERY DENNISON SCHWEIZ AG
	 	SWITZERLAND
	114.

	 	AVERY DENNISON SECURITY PRINTING EUROPE APS
	 	DENMARK
	115.

	 	AVERY DENNISON SHARED SERVICES, INC.
	 	U.S.A.
	116.

	 	AVERY DENNISON SINGAPORE (PTE) LTD
	 	SINGAPORE
	117.

	 	AVERY DENNISON SOUTH AFRICA (PROPRIETARY) LIMITED
	 	SOUTH AFRICA
	118.

	 	AVERY DENNISON SUOMI OY
	 	FINLAND
	119.

	 	AVERY DENNISON SVERIGE AB
	 	SWEDEN
	120.

	 	AVERY DENNISON SYSTEMES D’ETIQUETAGE FRANCE S.A.S.
	 	FRANCE
	121.

	 	AVERY DENNISON TAIWAN LIMITED
	 	TAIWAN
	122.

	 	AVERY DENNISON U.K. LIMITED
	 	UNITED KINGDOM
	123.

	 	AVERY DENNISON VERMOGENSVERWALTUNGS GMBH & CO K.G.
	 	GERMANY
	124.

	 	AVERY DENNISON ZWECKFORM AUSTRIA GMBH
	 	AUSTRIA
	125.

	 	AVERY DENNISON ZWECKFORM OFFICE PRODUCTS EUROPE GMBH
	 	GERMANY
	126.

	 	AVERY DENNISON ZWECKFORM OFFICE
PRODUCTS 
MANUFACTURING GMBH
	 	GERMANY
	127.

	 	AVERY DENNISON ZWECKFORM UNTERSTUTZUNGSKASSE GMBH
	 	GERMANY
	128.

	 	AVERY DENNISON, S.A. DE C.V.
	 	MEXICO
	129.

	 	AVERY DENNISON-MAXELL K. K.
	 	JAPAN
	130.

	 	AVERY GRAPHIC SYSTEMS, INC.
	 	U.S.A.
	131.

	 	AVERY GUIDEX LIMITED
	 	UNITED KINGDOM
	132.

	 	AVERY HOLDING LIMITED
	 	UNITED KINGDOM
	133.

	 	AVERY HOLDING S.A.S.
	 	FRANCE
	134.

	 	AVERY OFFICE PRODUCTS PUERTO RICO LLC
	 	PUERTO RICO
	135.

	 	AVERY PACIFIC LLC
	 	U.S.A.
	136.

	 	AVERY PROPERTIES PTY. LIMITED
	 	AUSTRALIA
	137.

	 	AVERY, INC.
	 	U.S.A.
	138.

	 	DENNISON COMERCIO, IMPORTACAS E EXPORTACAO LTDA.
	 	BRAZIL
	139.

	 	DENNISON DEVELOPMENT ASSOCIATES
	 	U.S.A.
	140.

	 	DENNISON INTERNATIONAL COMPANY
	 	U.S.A.
	141.

	 	DENNISON MANUFACTURING COMPANY
	 	U.S.A.
	142.

	 	INDUSTRIAL DE MARCAS LTDA
	 	COLOMBIA
	143.

	 	JAC (U.K.) LIMITED
	 	UNITED KINGDOM

Schedule 5.04-3

 

 

	 	 	 	 	 
	 	 	 	 	JURISDICTION
	 	 	 	 	IN WHICH
	 	 	SUBSIDIARY	 	ORGANIZED
	144.

	 	JAC ASIA PACIFIC PTY LTD.
	 	AUSTRALIA
	145.

	 	JAC ASIA PACIFIC SDN BHD
	 	MALAYSIA
	146.

	 	JAC AUSTRALIA PTY LTD.
	 	AUSTRALIA
	147.

	 	JAC CARIBE C.S.Z.
	 	DOMINICAN REPUBLIC
	148.

	 	JAC DO BRASIL LTDA.
	 	BRAZIL
	149.

	 	JAC NEW ZEALAND LIMITED
	 	NEW ZEALAND
	150.

	 	JACKSTADT FRANCE S.N.C.
	 	FRANCE
	151.

	 	JACKSTADT FRANCE SARL
	 	FRANCE
	152.

	 	JACKSTADT GMBH
	 	GERMANY
	153.

	 	JACKSTADT SOUTH AFRICA (PTY) LTD.
	 	SOUTH AFRICA
	154.

	 	JACKSTADT VERMOGENSVERWALTUNGS GMBH
	 	GERMANY
	155.

	 	L&E AMERICAS SERVICIOS, S. A. DE C.V.
	 	MEXICO
	156.

	 	L&E PACKAGING FAR EAST LIMITED
	 	HONG KONG
	157.

	 	MODERN MARK INTERNATIONAL LIMITED
	 	HONG KONG
	158.

	 	MONARCH INDUSTRIES, INC.
	 	U.S.A.
	159.

	 	PT AVERY DENNISON INDONESIA
	 	INDONESIA
	160.

	 	PT AVERY DENNISON PACKAGING INDONESIA
	 	INDONESIA
	161.

	 	RF IDENTICS, INC.
	 	U.S.A.
	162.

	 	RINKE DIS TISCARET LTD (SIRKETI)
	 	TURKEY
	163.

	 	RINKE ETIKET SERVIS SANAYI VE TICARET LTD SIRKETI
	 	TURKEY
	164.

	 	RINKE FAR EAST LTD
	 	HONG KONG
	165.

	 	RIPRO FAR EAST LTD
	 	HONG KONG
	166.

	 	RVL AMERICAS, S DE R.L. DE C.V.
	 	MEXICO
	167.

	 	RVL CENTRAL AMERICA, S. A.
	 	GUATEMALA
	168.

	 	RVL PACKAGING FAR EAST LIMITED
	 	HONG KONG
	169.

	 	RVL PACKAGING INDIA PRIVATE LIMITED
	 	INDIA
	170.

	 	RVL PACKAGING MIDDLE EAST F.Z.C.
	 	UNITED ARAB EMIRATES
	171.

	 	RVL PACKAGING SINGAPORE PTE LTD.
	 	SINGAPORE
	172.

	 	RVL PACKAGING TAIWAN LTD.
	 	TAIWAN
	173.

	 	RVL PACKAGING, INC.
	 	U.S.A.
	174.

	 	RVL PHILIPPINES, INC.
	 	PHILIPPINES
	175.

	 	RVL PRINTED LABEL FAR EAST LIMITED
	 	HONG KONG
	176.

	 	RVL PRINTED LABELS, LLC
	 	U.S.A.
	177.

	 	RVL SERVICE, S. DE R. L. DE C. V.
	 	MEXICO
	178.

	 	SECURITY PRINTING DIVISION, INC.
	 	U.S.A.
	179.

	 	STIMSONITE AUSTRALIA PTY LIMITED
	 	AUSTRALIA
	180.

	 	TIADECO PARTICIPACOES, LTDA.
	 	BRAZIL
	181.

	 	UNIVERSAL PACKAGING & DESIGN, LTD.
	 	HONG KONG
	182.

	 	WORLDWIDE RISK INSURANCE, INC.
	 	U.S.A.

Schedule 5.04-4

 

 

SCHEDULE 5.09

LITIGATION

Avery Dennison Corporation (the “Company”) has been designated by the U.S. Environmental
Protection Agency (“EPA”) and/or other responsible state agencies as a potentially responsible
party (“PRP”) at eighteen waste disposal or waste recycling sites, including Paxar Corporation
sites, which are the subject of separate investigations or proceedings concerning alleged soil
and/or groundwater contamination and for which no settlement of the Company’s liability has been
agreed. The Company is participating with other PRPs at such sites, and anticipates that its share
of cleanup costs will be determined pursuant to remedial agreements entered into in the normal
course of negotiations with the EPA or other governmental authorities.

The Company has accrued liabilities for these and certain other sites, including sites in which
governmental agencies have designated the Company as a PRP, where it is probable that a loss will
be incurred and the cost or amount of loss can be reasonably estimated. However, because of the
uncertainties associated with environmental assessment and remediation activities, future expense
to remediate the currently identified sites and any sites which could be identified in the future
for cleanup could be higher than the liability currently accrued.

During the third quarter of 2006, the Company recognized additional liability of $13 million for
estimated environmental remediation costs for a former operating facility, for which $2 million had
been accrued in the second quarter of 2006. Of the amount accrued, which represented the lower end
of the current estimated range of $15 million to $17 million for costs expected to be incurred,
approximately $9 million remained accrued as of September 29, 2007. Management considered
additional information provided by outside consultants in revising its previous estimates of
expected costs. This estimate could change depending on various factors such as modification of
currently planned remedial actions, changes in the site conditions, a change in the estimated time
to complete remediation, changes in laws and regulations affecting remediation requirements and
other factors.

Other amounts currently accrued are not significant to the consolidated financial position of the
Company and, based upon current information, management believes it is unlikely that the final
resolution of these matters will significantly impact the Company’s consolidated financial
position, results of operations or cash flows.

On April 24, 2003, Sentry Business Products, Inc. filed a purported class action on behalf of
direct purchasers of label stock in the United States District Court for the Northern District of
Illinois against the Company, UPM, Bemis and certain of their subsidiaries seeking treble damages
and other relief for alleged unlawful competitive practices. Ten similar complaints were filed in
various federal district courts. In November 2003, the cases were transferred to the United States
District Court for the Middle District of Pennsylvania and consolidated for pretrial purposes.
Plaintiffs filed a consolidated complaint on February 16, 2004, which the Company answered on
March 31, 2004. On April 14, 2004, the court separated the proceedings as to class certification
and merits discovery, and limited the initial phase of discovery to the issue of the
appropriateness of class certification. On January 4, 2006, plaintiffs filed an amended complaint.
On January 20, 2006, the Company filed an answer to the amended complaint. On August 14, 2006,

Schedule 5.09-1

 

 

the plaintiffs moved to certify a proposed class. The Company and other defendants opposed
this motion. Following multiple rounds of briefing, the Court substantially granted plaintiffs’
motion on November 19, 2007. The Company and other defendants petitioned the United States Court
of Appeals for the Third Circuit for interlocutory review of the Court’s decision on December 4,
2007. The petition is still pending. Merits discovery has not commenced in the District Court.
The Company intends to defend these matters vigorously in the District Court and in the Third
Circuit if review is granted.

On May 6, 2003, Sekuk Global Enterprises filed a purported stockholder class action in the United
States District Court for the Central District of California against the Company and Messrs. Neal,
O’Bryant and Skovran (then CEO, CFO and Controller, respectively) seeking damages and other relief
for alleged disclosure violations pertaining to alleged unlawful competitive practices.
Subsequently, another similar action was filed in the same court. On September 24, 2003, the court
appointed a lead plaintiff, approved lead and liaison counsel and ordered the two actions
consolidated as the “In Re Avery Dennison Corporation Securities Litigation.” Pursuant to court
order and the parties’ stipulation, plaintiff filed a consolidated complaint in mid-February 2004.
The court approved a briefing schedule for defendants’ motion to dismiss the consolidated
complaint, with a contemplated hearing date in June 2004. In January 2004, the parties stipulated
to stay the consolidated action, including the proposed briefing schedule, pending the outcome of
the government investigation of alleged anticompetitive conduct by the Company. The court approved
the parties’ stipulation to stay the consolidated actions. On January 17, 2007, the plaintiffs
voluntarily dismissed the consolidated complaint without prejudice.

On May 21, 2003, The Harman Press filed in the Superior Court for the County of Los Angeles,
California, a purported class action on behalf of indirect purchasers of label stock against the
Company, UPM and UPM’s subsidiary Raflatac (“Raflatac”), seeking treble damages and other relief
for alleged unlawful competitive practices, essentially repeating the underlying allegations of the
DOJ Merger Complaint. Three similar complaints were filed in various California courts. In November
2003, on petition from the parties, the California Judicial Council ordered the cases be
coordinated for pretrial purposes. The cases were assigned to a coordination trial judge in the
Superior Court for the City and County of San Francisco on March 30, 2004. On January 21, 2005,
American International Distribution Corporation filed a purported class action on behalf of
indirect purchasers in the Superior Court for Chittenden County, Vermont. Similar actions were
filed by Richard Wrobel, on February 16, 2005, in the District Court of Johnson County, Kansas; and
by Chad and Terry Muzzey, on February 16, 2005 in the District Court of Scotts Bluff County,
Nebraska. On February 17, 2005, Judy Benson filed a purported multi-state class action on behalf of
indirect purchasers in the Circuit Court for Cocke County, Tennessee. The Vermont, Kansas and
Nebraska cases are currently stayed. The Company intends to defend these matters vigorously.

On August 18, 2005, the Australian Competition and Consumer Commission notified two of the
Company’s subsidiaries, Avery Dennison Material Pty Limited and Avery Dennison Australia Pty Ltd,
that it was seeking information in connection with a label stock investigation. The Company is
cooperating with the investigation.

Schedule 5.09-2

 

 

The Company has contacted relevant authorities in the U.S. and reported the results of an internal
investigation of potential violations of the U.S. Foreign Corrupt Practices Act. The transactions
at issue were carried out by a small number of employees of the reflective business in China, and
involved, among other things, impermissible payments or attempted impermissible payments. The
payments or attempted payments and the contracts associated with them appear to have been
relatively minor in amount and of limited duration. As a result, the Company expects that fines or
other penalties may be incurred. While the Company is unable to predict the financial or operating
impact of any such fines or penalties, the Company believes that its behavior in detecting,
investigating, responding to and voluntarily disclosing these matters to authorities should be
viewed favorably. The Company is also investigating allegations concerning payments made to
customs officials in Indonesia by personnel employed by Paxar, a company recently acquired by the
Company. The investigation is ongoing.

Schedule 5.09-3

 

 

SCHEDULE 11.02

ADMINISTRATIVE AGENT’S OFFICE,

CERTAIN ADDRESSES FOR NOTICES

THE BORROWER:

	 	 	 
	AVERY DENNISON OFFICE PRODUCTS COMPANY
	c/o Avery Dennison Corporation
	150 North Orange Grove Boulevard
	Pasadena, California 91103
	Attention:

	 	Karyn E. Rodriguez
	 

	 	Vice President and Treasurer
	 

	 	Telephone: 626-304-2210
	 

	 	Facsimile: 626-304-2319
	 
	 	 
	HOLDINGS:
	 
	 	 
	AVERY DENNISON CORPORATION
	150 North Orange Grove Boulevard
	Pasadena, California 91103
	Attention:

	 	Karyn E. Rodriguez
	 

	 	Vice President and Treasurer
	 

	 	Telephone: 626-304-2210
	 

	 	Facsimile: 626-304-2319

THE ADMINISTRATIVE AGENT:

Notices
(other than Requests for Extensions of Credit):

BANK OF AMERICA, N.A.

800 Fifth Avenue, Floor 32

Seattle, WA 98104

Mail Code: WA1-501-32-37

Attention: Ken Puro

Tel: 206-358-0138

Facsimile: 415-343-0559

Electronic Mail: Ken.Puro@Bankofamerica.com

For
Payments and Requests for Extensions of Credit:

BANK OF AMERICA, N.A.

2001 Clayton Road, 2nd Floor

Concord, CA 94520

Mail Code: CA4-702-02-25

Attention: Jesse Phalen

Tel: 925-675-8458

Schedule 11.02-1

 

 

Facsimile: 888-969-9228

Electronic Mail: jesse.c.phalen@bankofamerica.com

Payments:

BANK OF AMERICA

New York, NY

ABA No. 026009593

Account No: 3750836479

Account Name: Corporate FTA

Attention: Jesse Phalen

Reference: Avery Dennison

Schedule 11.02-2

 

 

EXHIBIT A

FORM OF COMMITTED LOAN NOTICE

     Date:

     To:  Bank of America, N.A., as Administrative Agent

     Ladies and Gentlemen:

     Reference is made to that certain Credit Agreement, dated as of February 8, 2008 (as amended,
restated, extended, supplemented or otherwise modified in writing from time to time, the
“Agreement;” the terms defined therein being used herein as therein defined), among AVERY DENNISON
OFFICE PRODUCTS COMPANY, a Nevada corporation (the “Borrower”), AVERY DENNISON CORPORATION, a
Delaware corporation, the Lenders from time to time party thereto, and BANK OF AMERICA, N.A., as
Administrative Agent.

     The undersigned hereby requests (select one):

     o The Borrowing of Loans

     o A conversion or continuation of Loans

	 	1.	 	On __________ (a Business Day).
	 
	 	2.	 	In the amount of $______________
	 
	 	3.	 	Comprised of ________________

     [Type of Loan requested]

	 	4.	 	For Eurodollar Rate Loans: with an Interest Period of ___ months.

     [The Borrower hereby represents and warrants that the conditions specified in Sections 4.01(e)
and (f) shall be satisfied on and as of the Closing Date.]1

     AVERY DENNISON OFFICE PRODUCTS COMPANY

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

			
	1	 	Include only in the case of the borrowing on the
Closing Date.

 

 

EXHIBIT B

FORM OF NOTE

     FOR VALUE RECEIVED, the undersigned (the “Borrower”), hereby promises to pay to
_______________________ or registered assigns (the “Lender”), in accordance with the provisions of
the Agreement (as hereinafter defined), the principal amount of the Loan made by the Lender to the
Borrower under that certain Credit Agreement, dated as of February 8, 2008 (as amended, restated,
extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the
terms defined therein being used herein as therein defined), among the Borrower, Avery Dennison
Corporation, the Lenders from time to time party thereto, and Bank of America, N.A., as
Administrative Agent.

     The Borrower promises to pay interest on the unpaid principal amount of the Loan made by the
Lender from the date of such Loan until such principal amount is paid in full, at such interest
rates and at such times as provided in the Agreement. All payments of principal and interest shall
be made to the Administrative Agent for the account of the Lender in Dollars in immediately
available funds at the Administrative Agent’s Office. If any amount is not paid in full when due
hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date
thereof until the date of actual payment (and before as well as after judgment) computed at the per
annum rate set forth in the Agreement.

     This Note is one of the Notes referred to in the Agreement, is entitled to the benefits
thereof and may be prepaid in whole or in part subject to the terms and conditions provided
therein. This Note is also entitled to the benefits of the Guaranty. Upon the occurrence and
continuation of one or more of the Events of Default specified in the Agreement, all amounts then
remaining unpaid on this Note shall become, or may be declared to be, immediately due and payable
all as provided in the Agreement. The Loan made by the Lender shall be evidenced by one or more
loan accounts or records maintained by the Lender in the ordinary course of business. The Lender
may also attach schedules to this Note and endorse thereon the date, amount and maturity of its
Loans and payments with respect thereto.

     The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment,
protest and demand and notice of protest, demand, dishonor and non-payment of this Note.

2

 

     THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
CALIFORNIA.

     AVERY DENNISON OFFICE PRODUCTS COMPANY

	 	 	 	 	 
	 	 	 
	 	By: 	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

3

 

LOANS AND PAYMENTS WITH RESPECT THERETO

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Amount of	 	Outstanding	 	 
	 	 	 	 	 	 	 	 	Principal or	 	Principal	 	 
	 	 	Type of Loan	 	Amount of Loan	 	End of Interest	 	Interest Paid	 	Balance This	 	Notation Made
	Date	 	Made	 	Made	 	Period	 	This Date	 	Date	 	By
	 
 

 

 

EXHIBIT C

FORM OF COMPLIANCE CERTIFICATE

     Financial Statement Date: _____________

     To: Bank of America, N.A., as Administrative Agent

     Reference is made to that certain Credit Agreement, dated as of February 8, 2008 (as amended,
restated, extended, supplemented or otherwise modified in writing from time to time, the
“Agreement;” the terms defined therein being used herein as therein defined), among AVERY DENNISON
OFFICE PRODUCTS COMPANY, a Nevada corporation, AVERY DENNISON CORPORATION, a Delaware corporation
(“Holdings”), the Lenders from time to time party thereto, and BANK OF AMERICA, N.A., as
Administrative Agent.

     I, ____________, hereby certify that I am a Designated Officer of Holdings holding the office
set forth below my signature and that:

     1. Based on the duly certified financial statements delivered concurrently with this
Certificate, as of the date thereof:

	 	 	 	 	 	 	 	 	 	 	 	 	 

	 

	 	 	A.	 	 	LEVERAGE
	 	RATIO (Section 7.07(a))	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	1.	 	 	Consolidated Debt:
	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	2.	 	 	Consolidated EBITDA
	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	a.
	 	Consolidated Net Income:
	 	 	$	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	b.
	 	Consolidated Interest:
	 	 	$	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	c.
	 	Provision for income taxes:
	 	 	$	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	d.
	 	Depreciation and amortization expense:
	 	 	$	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	e.
	 	Total (Lines A.2.a + b + c + d):
	 	 	$	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	4.	 	 	Leverage Ratio (Line A.1 Line ÷ A.2.e.):
	 	 	_______ to 1
	 

     Maximum permitted Leverage Ratio: 3.50 to 1.00.

     B. RATIO OF CONSOLIDATED EARNINGS BEFORE INTEREST AND TAXES TO CONSOLIDATED INTEREST (Section
7.07(b))

	 	 	 	 	 	 	 	 	 	 	 

	 

	 	 	1.	 	 	Consolidated Earnings Before Interest and Taxes:
	 	 	$	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	2.	 	 	Consolidated Interest:
	 	 	$	 

 

 

	 	 	 	 	 	 	 

	 

	3.	 	 	Ratio of Consolidated Earnings Before Interest and 

Taxes to Consolidated Interest (Line B.1 ÷ Line B.2):
	 	______ to 1

     Required minimum: Ratio to be 3.50 to 1.00 or more.

     2. The following constitutes a further explanation of the manner in which the foregoing data
relate to the attached financial statements to the extent not readily apparent:

     3. I have reviewed the activities of Holdings and its Subsidiaries during the fiscal period
covered by the attached financial statements to the extent necessary to permit me to deliver this
Certificate.

     4. [Except with respect to the Defaults and Events of Default specified and explained as to
their nature and status below,] Holdings and its Subsidiaries have performed and observed each
covenant and condition of the Loan Documents applicable to them during the- fiscal period covered
by the attached financial statements, and there exists no Default or Event of Default:

[Remainder of page intentionally left blank]

2

 

     IN WITNESS WHEREOF, the undersigned has executed this Certificate as of

     AVERY DENNISON CORPORATION

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

3

 

EXHIBIT D

ASSIGNMENT AND ASSUMPTION

     This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the Effective
Date set forth below and is entered into by and between [the][each]1 Assignor identified
in item 1 below ([the][each, an] “Assignor”) and [the][each]2 Assignee identified in
item 2 below [the][each, an] “Assignee”). [It is understood and agreed that the rights and
obligations of [the Assignors][the Assignees]3 hereunder are several and not
joint.]4 Capitalized terms used but not defined herein shall have the meanings given to
them in the Credit Agreement identified below (the “Credit Agreement”), receipt of a copy of which
is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1
attached hereto are hereby agreed to and incorporated herein by reference and made a part of this
Assignment and Assumption as if set forth herein in full.

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

 

			
	2	 	For bracketed language here and elsewhere in this
form relating to the Assignor(s), if the assignment is from a single Assignor,
choose the first bracketed language. If the assignment is from multiple
Assignors, choose the second bracketed language.
	 
	3	 	For bracketed language here and elsewhere in this
form relating to the Assignee(s), if the assignment is to a single Assignee,
choose the first bracketed language. If the assignment is to multiple
Assignees, choose the second bracketed language.
	 
	4	 	Select as appropriate.
	 
	5	 	Include bracketed language if there are either
multiple Assignors or multiple Assignees.

 

 

[the][any] Assignor and, except as expressly provided in this Assignment and Assumption,
without representation or warranty by [the][any] Assignor.

     1. Assignor[s]: _________________________

     2. Assignee[s]:

     [for each Assignee, indicate [Affiliate][Approved Fund] of [identify Lender]]

     3. Borrower: Avery Dennison Office Products Company, a Nevada corporation

     4. Administrative Agent: Bank of America, N.A., as the administrative agent under the Credit
Agreement

     5. Credit Agreement: Credit Agreement, dated as of February 8, 2008 among AVERY DENNISON
OFFICE PRODUCTS COMPANY, a Nevada corporation, AVERY DENNISON CORPORATION, a Delaware corporation,
the Lenders from time to time -party thereto, and BANK OF AMERICA, N.A., as Administrative Agent

     6. Assigned Interest:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Aggregate	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Amount of	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Commitment/Loans	 	 	Amount of Commitment	 	 	Percentage Assigned	 	 	 	 
	 	 	 	 	 	 	for all	 	 	/Loans	 	 	of Commitment/	 	 	CUSIP	 
	Assignors6	 	Assignee[s]7	 	 	Lenders8	 	 	Assigned	 	 	Loans9	 	 	Number	 
	 
	 	 	 	 	 	$	 	 	 	$	 	 	 	 	%	 	 	 	 	 
	 
	 	 	 	 	 	$	 	 	 	$	 	 	 	 	%	 	 	 	 	 
	 
	 	 	 	 	 	$	 	 	 	$	 	 	 	 	%	 	 	 	 	 

     [7. Trade Date: ________________]10

 

			
	6	 	List each Assignor, as appropriate.
	 
	7	 	List each Assignee, as appropriate.
	 
	8	 	Amounts in this column and in the column
immediately to the right to be adjusted by the counterparties to take into
account any payments or prepayments made between the Trade Date and the
Effective Date.
	 
	9	 	Set forth, to at least 9 decimals, as a percentage
of the Commitment/Loans of all Lenders thereunder.
	 
	10	 	To be completed if the Assignor and the Assignee
intend that the minimum assignment amount is to be determined as of the Trade
Date.

2

 

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

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

     ASSIGNOR

     [NAME OF ASSIGNOR]

     By:

     Title:

3

 

     ASSIGNEE

     [NAME OF ASSIGNEE]

     By:

     Title:

     [Consented to and]11 Accepted:

     BANK OF AMERICA, N.A., as Administrative Agent

     By:

     Title:

     [Consented to:]12

     AVERY DENNISON OFFICE PRODUCTS COMPANY

     By:

     Title:

 

			
	11	 	To be added only if the consent of the

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

 

 

ANNEX I TO ASSIGNMENT AND ASSUMPTION

     Credit Agreement, dated as of February 8, 2008 among AVERY DENNISON OFFICE PRODUCTS COMPANY, a
Nevada corporation, AVERY DENNISON CORPORATION, a Delaware corporation, the Lenders from time to
time party thereto, and BANK OF AMERICA, N.A., as Administrative Agent

     STANDARD TERMS AND CONDITIONS FOR ASSIGNMENT AND ASSUMPTION

     1. Representations and Warranties.

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

     1.2. Assignee. [The][Each] Assignee (a) represents and warrants that (i) it has full power
and authority, and has taken all action necessary, to execute and deliver this Assignment and
Assumption and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it meets all the requirements to be an assignee under Section 11.06(b)(iii),
(v) and (vi) of the Credit Agreement (subject to such consents, if any, as may be required under
Section 11.06(b)(iii) of the Credit Agreement), (iii) from and after the Effective Date, it shall
be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of
[the] [the relevant] Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it
is sophisticated with respect to decisions to acquire assets of the type represented by [the][such]
Assigned Interest and either it, or the Person exercising discretion in making its decision to
acquire [the] [such] Assigned Interest, is experienced in acquiring assets of such type, (v) it has
received a copy of the Credit Agreement, and has received or has been accorded the opportunity to
receive copies of the most recent financial statements delivered pursuant to Section 6.1 thereof,
as applicable, and such other documents and information as it deems appropriate to make its own
credit analysis and decision to enter into this Assignment and Assumption and to purchase
[the][such] Assigned Interest, (vi) it has, independently and without reliance upon the
Administrative Agent or any other Lender and based on such documents and information as it has
deemed appropriate, made its own credit analysis and decision to enter into this Assignment and
Assumption and to purchase [the][such] Assigned Interest, and (vii) if it is a Foreign Lender,
attached hereto is any documentation required to be delivered by it pursuant to the terms of the
Credit Agreement, duly completed and executed by [the] [such] Assignee; and (b) agrees that (i) it
will, independently and without reliance upon the Administrative Agent, [the][any] Assignor or any
other Lender, and based on

 

 

such documents and information as it shall deem appropriate at the time, continue to make its
own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will
perform in accordance with their terms all of the obligations which by the terms of the Loan
Documents are required to be performed by it as a Lender.

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

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

2

 

EXHIBIT E-1

OPINION MATTERS — COUNSEL TO LOAN PARTIES

     The matters contained in the following Sections of the Credit Agreement should be covered by
the legal opinion:

	 	•	 	Section 5.01
	 
	 	•	 	Section 5.02
	 
	 	•	 	Section 5.03
	 
	 	•	 	Section 5.08
	 
	 	•	 	Section 5.09
	 
	 	•	 	Section 5.10
	 
	 	•	 	Section 5.13

 

 

EXHIBIT E-2

OPINION MATTERS — LOCAL COUNSEL TO LOAN PARTIES

     The matters contained in the following Sections of the Credit Agreement should be covered by
the legal opinion:

	 	•	 	Section 5.01
	 
	 	•	 	Section 5.02
	 
	 	•	 	Section 5.03
	 
	 	•	 	Section 5.08
	 
	 	•	 	Section 5.09
	 
	 	•	 	Section 5.10
	 
	 	•	 	Section 5.13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}]]