Document:

Exhibit 10.21

 

AMENDED AND RESTATED PLEDGE AGREEMENT

(GUARANTORS)

 

THIS AMENDED AND RESTATED PLEDGE AGREEMENT (this “Agreement”) is
made on August 5, 2008, by and among SUPERIOR ESSEX INC., a Delaware
corporation (“SEI”); SUPERIOR ESSEX HOLDING
CORP., a Delaware corporation (“SEHC”); SE COMMUNICATIONS GP INC., a Delaware
corporation (“SEC GP”); ESSEX INTERNATIONAL INC., a Delaware
corporation (“Essex International”); ESSEX CANADA
INC., a Delaware corporation (“Essex Canada”); ESSEX GROUP MEXICO INC., a Delaware corporation (“Essex
Mexico”); and ESSEX MEXICO HOLDINGS,
L.L.C., a Delaware limited liability company (“EMH”; SEI,
SEHC, SEC GP, Essex International, Essex Canada, Essex Mexico, and EMH are
collectively referred to herein as “Pledgor” and individually as “Pledgors”),
and BANK OF AMERICA, N.A.,  a
national banking association with a mailing address at 300 Galleria Parkway,
N.W., Suite 800, Atlanta, Georgia 30339, as administrative and collateral  agent (in such capacity, together
with its successors in such capacity, “Agent”) for each of the financial
institutions (collectively, “Lenders”) now or hereafter parties to the
Loan Agreement (as defined below), and the other Secured Parties (as defined in
the Loan Agreement).

 

Recitals:

 

Pursuant to that certain
Credit Agreement dated November 10, 2003, as amended and restated by that
certain Amended and Restated Loan and Security Agreement dated April 14,
2006, by and among SUPERIOR ESSEX
COMMUNICATIONS LP, a
Delaware limited partnership (“Communications”), ESSEX GROUP, INC., a Michigan
corporation (“EGI”; Communications and EGI are collectively referred to
herein as “U.S. Borrowers”),
Agent, and the various financial institutions party thereto from time to time
(the “Existing Lenders”) (as at any time amended, restated,
modified or otherwise supplemented prior to the date hereof, the “Existing
Loan Agreement”), the Existing Lenders agreed to make loans to, and issue
letters of credit and provide other financial accommodations on behalf of, U.S.
Borrowers.

 

In connection with the
Existing Loan Agreement, certain of the Pledgors executed and delivered that
certain Continuing Guaranty Agreement dated November 10, 2003 in favor of
Agent and the Existing Lenders, which Continuing Guaranty Agreement was further
acknowledged and reaffirmed pursuant to that certain Acknowledgement and
Reaffirmation of Loan Documents dated April 14, 2006 (as at any time amended, restated,
modified or otherwise supplemented prior to the date hereof, the “Existing
Guaranty”), pursuant to which the Pledgors jointly and severally
unconditionally guaranteed to the Agent and the Existing Lenders the payment
and performance of all of the “Guaranteed Obligations” as defined
therein.

 

In connection with the
Existing Guaranty, Pledgors executed and delivered that certain Pledge
Agreement dated November 10, 2003 in favor of Agent and the Existing
Lenders, which Pledge Agreement was further acknowledged and reaffirmed
pursuant to that certain Acknowledgement Reaffirmation of Loan Documents dated April 14,
2006 (as at any time amended,
restated, modified or otherwise supplemented prior to the date hereof, the “Existing
Pledge Agreement”), pursuant to which Pledgors agreed to pledge to Agent
the Pledged Collateral (as defined in the Existing Pledge Agreement) to secure
the Guaranteed Obligations (as defined in the Existing Guaranty).

 

U.S.
Borrowers and ESSEX
GROUP CANADA INC., a Nova Scotia company (“Canadian Borrower”;
U.S. Borrowers and Canadian Borrower are sometimes collectively referred to
herein as “Borrowers” and individually as “Borrower”), have now
entered into a certain Second Amended and Restated Loan Agreement dated the
date hereof with Agent, Lenders and the other parties named therein

 

 

(as
at any time amended, restated, modified or supplemented, the “Loan Agreement”),
which Loan Agreement amends and restates the Existing Loan Agreement.

 

In connection with the Loan
Agreement, Pledgors have executed and delivered that certain Amended and
Restated Continuing Guaranty Agreement dated the date hereof in favor of Agent
and the Lenders (as at any time
amended, restated, modified or otherwise supplemented, the “Guaranty”),
pursuant to which the Pledgors jointly and severally unconditionally guarantee
to the Agent and the Lenders the payment and performance of all of the “Guaranteed
Obligations” as defined therein.

 

It is a condition to the
Secured Parties’ willingness to make loans and other financial accommodations
to or for the benefit of Borrowers under the Loan Agreement that each of the
Pledgors agree to amend and restate the Existing Pledge Agreement in its
entirety as hereinafter set forth.

 

The parties hereto agree
that the Existing Pledge Agreement is hereby amended and restated in its
entirety by this Agreement, and each Pledgor agrees to pledge to the Agent, for
the benefit of the Secured Parties, the Pledged Collateral described herein,
and to ratify, renew and continue the prior pledge of such Pledged Collateral,
in order to ensure and secure the prompt payment and performance of the Obligations.

 

NOW, THEREFORE, for Ten
Dollars ($10.00) in hand paid to Pledgors and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
and to secure the timely payment and performance of the Secured Obligations (as
hereinafter defined), each Pledgor agrees as follows:

 

1.             Definitions. 
Capitalized terms used herein, unless otherwise defined, shall have
the meaning ascribed to them in the Loan Agreement.  As used herein, the following terms shall
have the following meanings:

 

“Companies” shall mean Communications, ECM, EGI, EGM, EMH, GEM,
SEHC, and SEC GP, and each individually is referred to herein as a “Company”.

 

“ECM” shall mean Essex Comercial Mexico, S. de R.L. de C.V., a
Mexican company.

 

“EGM” shall mean Essex Group Mexico S.A. de CV., a
Mexican company.

 

“EMH” shall mean Essex Mexico Holdings, L.L.C., a Delaware
limited liability company.

 

“Essex International” shall mean Essex International Inc., a
Delaware corporation.

 

“GEM” shall mean Grupo Essex de Mexico, S. de R.L. de C.V., a
Mexican company.

 

“Pledged
Collateral” shall have the meaning ascribed to in Section 2 hereof.

 

“Power” shall have the meaning ascribed to it in Section 2
hereof.

 

“SEC GP” shall mean SE Communications GP Inc., a Delaware
corporation.

 

“SEHC”
shall mean Superior Essex Holding Corp., a Delaware corporation.

 

“Secured Obligations” shall mean all of the Obligations under
(and as defined in) the Loan Agreement, including, without limitation, all
U.S. Obligations and

 

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Canadian
Obligations, all liabilities and obligations of Pledgors as guarantors of the
U.S. Obligations and Canadian Obligations pursuant to Pledgors’ Guaranty, and
all obligations of each Pledgor now or hereafter existing under this Agreement.

 

2.             Pledge; Agent’s Duties.

 

(a)           Each Pledgor hereby pledges, assigns,
transfers, sets over and delivers to Agent, and hereby grants to Agent, for the
benefit of itself and Lenders, a security interest in all of the Equity
Interests of the Companies held by such Pledgor and more particularly described
on Annex A and all of such Pledgor’s options, if any, for the purchase
of any Equity Interests of the Companies, herewith delivered to Agent, and
where certificated, accompanied by powers (“Powers”) duly executed in
blank, with signatures properly guaranteed, and all proceeds thereof and all
dividends or distributions at any time payable in connection therewith (said
Equity Interests, Powers, options, proceeds, dividends and distributions
hereinafter collectively called the “Pledged Collateral”) as security
for the due and punctual payment and performance of the Secured
Obligations.  In addition to the
foregoing, each Pledgor hereby ratifies, reaffirms, renews and continues its
prior pledge and grant of a security interest in favor of Agent, for the
benefit of the Secured Parties, in all of the Pledged Collateral described in
the Existing Pledge Agreement.  Notwithstanding
anything to the contrary contained herein or in the other Loan Documents,
Pledgors shall not pledge more than 65% of the total voting Equity Interests in
any Foreign Subsidiary as Pledged Collateral.

 

(b)           Agent shall have no duty with respect
to any of the Pledged Collateral other than the duty to use reasonable care in the
safe custody of any tangible items of the Pledged Collateral in its
possession.  Without limiting the
generality of the foregoing, Agent shall be under no obligation to sell any of
the Pledged Collateral or otherwise to take any steps necessary to preserve the
value of any of the Pledged Collateral or to preserve rights in the Pledged
Collateral against any other Persons, but may do so at its option, and all
expenses incurred in connection therewith shall be for the sole account of
Pledgors.

 

3.             Voting Rights. 
During the term of this Agreement, and so long as no Event of Default
shall exist, each Pledgor shall have the right to vote all or any portion of
the Equity Interests owned by such Pledgor on all corporate questions for all
purposes not inconsistent with the terms of this Agreement or any of the other
Loan Documents.  To that end, if Agent
transfers all or any portion of the Pledged Collateral, into its name or the
name of its nominee, to the extent authorized to do so under this Agreement or
any of the other Loan Documents, Agent shall, upon the request of any Pledgor,
unless an Event of Default shall exist, execute and deliver or cause to be
executed and delivered to such Pledgor, proxies with respect to the Pledged
Collateral. Each Pledgor hereby grants to Agent, effective only upon the
occurrence and during the continuation of any Event of Default, an IRREVOCABLE PROXY pursuant to which Agent
shall be entitled to exercise all voting powers pertaining to the Pledged
Collateral, including to call and attend all meetings of the shareholders or
members of the Companies to be held from time to time with full power to act
and vote in the name, place and stead of such Pledgor (whether or not the
Equity Interests shall have been transferred into its name or the name of its
nominee or nominees), give all consents, waivers and ratifications in respect
of the Pledged Collateral and otherwise act with respect thereto as though it
were the outright owner thereof, and any and all proxies theretofore executed
by Agent shall terminate and thereafter be null and void and of no effect
whatsoever.

 

4.             Collection of Dividend Payments.  During the term of this Agreement, and so
long as there shall not exist any Event of Default, each Pledgor shall have the
right to receive and retain any and all dividends and other distributions
payable by any Company to such Pledgor on account of any of the Pledged
Collateral; provided, that, to the extent any Pledgor shall
receive any dividends or other distributions which are not expressly permitted
under or contemplated by the Loan Agreement, such Pledgor shall hold the same
in trust and promptly pay the same over to Agent for application to the Secured
Obligations.  Upon the occurrence and during
the continuation of any Event of Default, all

 

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dividends
and other distributions payable by any Company on account of any of the Pledged
Collateral shall be paid to Agent and any such sum received by such Pledgor
shall be deemed to be held by such Pledgor in trust for the benefit of Agent
and shall be forthwith turned over to Agent for application by Agent to the
Secured Obligations in such order of application as is specified in the Loan
Agreement.

 

5.             Representations
and Warranties of Each Pledgor.  Each Pledgor warrants and represents to Agent
as follows (which representations and warranties shall be deemed
continuing):  (a) such Pledgor is
the legal and beneficial owner of its respective portion of the Pledged
Collateral-indicated on Annex A; (b) all of the Equity Interests
have been duly and validly issued, are fully paid and nonassessable, and are
owned by such Pledgor free of any Liens except for Permitted Liens and Agent’s
security interest hereunder; (c) the Pledged Collateral constitutes (i) all
of the issued and outstanding Equity Interests of each of Communications, EGI,
EMH, Essex International, SEHC, and SEC GP, and (ii) 65% of the issued and
outstanding voting  Equity Interests of each of
ECM, EGM and GEM; (d) there are no contractual or charter restrictions
upon the voting rights or upon the transfer of any of the Pledged Collateral; (e) such
Pledgor has the right to vote, pledge and grant a security interest in or
otherwise transfer the Pledged Collateral without the consent of any other
party and free of any Liens other than Permitted Liens and applicable
restrictions imposed by any Governmental Body and without any restriction under
the Organic Documents of such Pledgor or any Company or any agreement among
such Pledgor’s or any Company’s shareholders or members; (f) this
Agreement has been duly authorized, executed and delivered by such Pledgor and
constitutes a legal, valid and binding obligation of such Pledgor, enforceable
in accordance with its terms except to the extent that the enforceability
thereof may be limited by bankruptcy, insolvency or other similar laws of
general application affecting the enforcement of creditors’ rights; (g) the
execution, delivery and performance by such Pledgor of this Agreement and the
exercise by Agent of its rights and remedies hereunder do not and will not
result in the violation of the articles of incorporation or organization or
by-laws or operating agreement of such Pledgor, any material agreement,
indenture, instrument or Applicable Law by which such Pledgor or any Company is
bound or to which such Pledgor or any Company is subject (except such Pledgor
makes no representation or warranty about Agent’s prospective compliance
with any federal or state laws or regulations governing the sale or exchange of
securities); (h) no consent, filing, approval, registration or recording
is required (x) for the pledge by Pledgor of the Pledged Collateral
pursuant to this Agreement or (y) to perfect the Lien created by this
Agreement; (i) none of the Pledged Collateral is held or maintained in the
form of a securities entitlement or credited to any securities account; (j) none
of the Pledged Collateral constituting membership interests in a limited
liability company is, nor has the relevant Company elected to designate any of
the Pledged Collateral as, a “security” under (and as defined in) Article 8
of the UCC; and (k) unless a Power is delivered in connection therewith,
none of the Pledged Collateral is evidenced by a certificate or other writing.

 

6.             Affirmative
Covenants of Pledgors. 
Until all of the Secured Obligations have been satisfied in full and the
Loan Agreement has been terminated, each Pledgor covenants that it will:  (a) warrant and defend at its own
expense Agent’s right, title, and security interest in and to the Pledged
Collateral against the claims of any Person; (b) promptly deliver to Agent
all material written notices with respect to the Pledged Collateral, and will
promptly give written notice to Agent of any other notices received by such
Pledgor with respect to the Pledged Collateral; and (c) deliver to Agent
promptly to hold under this Agreement any Equity Interests of the Companies
subsequently acquired by such Pledgor, whether acquired by such Pledgor by
virtue of the exercise of any options included within the Pledged Collateral or
otherwise (which Equity Interests shall be deemed to be a part of the Pledged
Collateral); (d) if any of the Pledged Collateral constituting membership
interests in a limited liability company is hereafter designated by the
relevant Company as a “security” under (and as defined in) Article 8 of
the

 

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UCC,
cause such Pledged Collateral to be certificated; and (e) if at any time
hereafter any of the Pledged Collateral which is not currently certificated
becomes certificated, deliver all certificates or other documents evidencing or
representing the Pledged Collateral to Agent, accompanied by Powers, all in
form and substance satisfactory to Agent and as required pursuant to this
Agreement.

 

7.             Negative Covenants of Pledgors.  Until all of the Secured Obligations have
been satisfied in full and the Loan Agreement has been terminated, each Pledgor
covenants that it will not, without the prior written consent of Agent, (a) sell,
convey or otherwise dispose of any of the Pledged Collateral or any interest
therein other than as permitted under the Loan Agreement; (b) incur or
permit to be incurred any Lien whatsoever upon or with respect to any of the
Pledged Collateral or the proceeds thereof, other than the security interest
created hereby and Permitted Liens, such term to be applicable
mutatis mutandis to any such Pledgor and its Pledged Collateral; (c) consent
to the issuance by any Company of any new Equity Interests unless otherwise
expressly permitted under the Loan Agreement; (d) consent to any merger or
other consolidation of any Company with or into any corporation or other entity
other than as permitted under the Loan Agreement; (e) cause any Pledged
Collateral to be held or maintained in the form of a security entitlement or
credited to any securities account; (f) designate, or cause any Company to
designate, any of the Pledged Collateral constituting membership interests in a
limited liability company as a “security” under Article 8 of the UCC; or (g) evidence,
or permit any Company to evidence, any of the Pledged Collateral which is not
currently certificated, with any certificates, instruments or other writings,
unless the relevant Company has complied with the provisions of Section 6(e) of
this Agreement.

 

8.             Irrevocable Authorization and Instruction to Companies. To the extent
that any portion of the Pledged Collateral may now or hereafter consist of
uncertificated securities within the meaning of Section 8 of the UCC, each
Pledgor irrevocably authorizes and instructs each Company to comply with any
instruction received by such Company from Agent with respect to such Pledged
Collateral without any other or further instructions from or consent of any
Pledgor, and each Pledgor agrees that each Company shall be fully protected in
so complying; provided, however, that Agent agrees that Agent
will not issue or deliver any instructions to any Company except upon the
occurrence and during the continuance of an Event of Default.

 

9.             Subsequent Changes Affecting Pledged Collateral.  Each Pledgor represents to Agent that each
Pledgor has made its own arrangements for keeping informed of changes or
potential changes affecting the Pledged Collateral (including rights to
convert, rights to subscribe, payment of dividends, reorganization or other
exchanges, tender offers and voting rights), and each Pledgor agrees that Agent
shall have no responsibility or liability for informing such Pledgor of any
such changes or potential changes or for taking any action or omitting to take
any action with respect thereto.

 

10.          Equity Interest Adjustments.  If during the term of this Agreement any
dividend, reclassification, readjustment or other change is declared or made in
the capital structure of the Companies, or any option included within the
Pledged Collateral is exercised, or both, all new, substituted and additional
Equity Interests, or other securities, issued by reason of any such change or
exercise shall, if received by any Pledgor, be held in trust for Agent’s
benefit and shall be promptly delivered to and held by Agent under the terms of
this Agreement in the same manner as the Pledged Collateral originally pledged
hereunder.

 

11.          Warrants, Options and Rights.  If during the term of this Agreement
subscription warrants or any other rights or options shall be issued to a
Pledgor or exercised in connection with the

 

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Pledged
Collateral, then such warrants, rights and options shall be immediately
assigned by such Pledgor to Agent and all certificates evidencing new Equity
Interests or other securities so acquired by such Pledgor shall be immediately
delivered to and held by Agent to be held under the terms of this Agreement in
the same manner as the Pledged Collateral originally pledged hereunder.

 

12.          Registration.  If Agent determines that it is required to
register under or otherwise comply in any way with the Securities Act of 1933,
as amended (the “Securities Act”) or any similar federal or state law,
with respect to the securities included in the Pledged Collateral
prior to sale thereof by Agent, then upon the occurrence and during the
continuation of an Event of Default, any Pledgors will cooperate with Agent to
register any Pledged Collateral under the Securities Act at the sole cost and
expense of Pledgors.

 

13.          Consent.  Each Pledgor hereby consents that, before or
after the occurrence or existence of any Default or Event of Default, with or
without notice to or assent from such Pledgor, if any security at any time held
by or available to Agent for any of the Secured Obligations is exchanged,
surrendered, or released, or if  any
of the Secured Obligations is changed, altered, renewed, extended, continued,
surrendered, compromised, waived or released, in whole or in part, as Agent may
see fit and in each case of such exchange, surrender or release subject to the
terms and conditions of the applicable Security Documents, each Pledgor shall
nonetheless remain bound under this Agreement and under the other Loan
Documents notwithstanding any such exchange, surrender, release, alteration,
renewal, extension, continuance, compromise, waiver or inaction, extension of
further credit or other dealing.

 

14.          Remedies
Upon Default.  Upon the
occurrence and during the continuation of any Event of Default, (i) Agent
shall have, in addition to any other rights given by law or the rights given
hereunder or under each of the other Loan Documents, all of the rights and
remedies with respect to the Pledged Collateral of a secured party under the
UCC and (ii) Agent may cause all or any part of the Equity
Interests held by it to be transferred into its name or the name of its nominee
or nominees.  In addition, upon the
occurrence and during the continuation of an Event of Default, Agent may sell
or cause the Pledged Collateral, or any part thereof, which shall then be or
shall thereafter come into Agent’s possession or custody, to be sold at any
broker’s board or at public or private sale, in one or more sales or lots, at
such price as Agent may deem best, and for cash or on credit or for future
delivery, and the purchaser of any or all of the Pledged Collateral so sold
shall thereafter hold the same absolutely, free from any claim, encumbrance or
right of any kind whatsoever of any Pledgor or arising through any
Pledgor.  If any of the Pledged
Collateral is sold by Agent upon credit or for future delivery, Agent shall not
be liable for the failure of the purchaser to pay the same and in such event
Agent may resell such Pledged Collateral. 
Unless the Pledged Collateral threatens to decline speedily in value or
is or becomes of a type sold on a recognized market, Agent will give Pledgors
reasonable written notice of the time and place of any public sale thereof, or
of the time after which any private sale or other intended disposition is to be
made.  Any sale of the Pledged Collateral
conducted in conformity with reasonable commercial practices of banks,
insurance companies or other financial institutions disposing of property
similar to the Pledged Collateral shall be deemed to be commercially
reasonable.  Any requirements of
reasonable notice shall be met if such notice is mailed to Pledgors, as
provided in Section 22 below, at least ten (10) days before the time
of the sale or disposition.  Any other
requirement of notice, demand or advertisement for sale is, to the extent
permitted by Applicable Law, waived. 
Agent may, in its own name, or in the name of a designee or nominee, buy
at any public sale of the Pledged Collateral and, if permitted by Applicable
Law, buy at any private sale thereof. 
Pledgors will pay to Agent on demand all expenses (including court costs
and reasonable attorneys’ fees and expenses) of, or incident to, the
enforcement of any of the provisions hereof and all other charges due against
the Pledged Collateral, including taxes,

 

6

 

assessments
or Liens upon the Pledged Collateral and any expenses, including transfer or
other taxes, arising in connection with any sale, transfer or other disposition
of Pledged Collateral.  In connection
with any sale of Pledged Collateral by Agent, Agent shall have the right to
execute any document or form, in its name or in the name of Pledgors, which may
be necessary or desirable in connection with such sale, including Form 144
promulgated by the Securities and Exchange Commission.  In view of the fact that federal and state
securities laws may impose certain restrictions on the method by which a sale
of the Pledged Collateral may be effected Pledgors agrees that Agent may, upon
the occurrence and during the continuation of an Event of Default, attempt to
sell all or any part of the Pledged Collateral by means of a private placement
restricting the bidders and prospective purchasers to those who will represent
and agree that they are accredited investors (as defined in Regulation D
promulgated under the Securities Act) purchasing for investment only and not
for distribution.  Each Pledgor agrees
that any such private sales may be at prices and other terms less favorable to
the seller than if sold at public sales and that such private sales shall not
by reason thereof be deemed not to have been made in a commercially reasonable
manner.  Agent shall be under no
obligation to delay a sale of any of the Pledged Collateral for the period of
time necessary to permit the issuer of such securities to register such
securities for public sale under the Securities Act even if the issuer would
agree to do so.  Agent shall apply the
cash proceeds actually received from any sale or other disposition to the
reasonable expenses of retaking, holding, preparing for sale, selling and the
like, to reasonable attorneys’ fees, and all legal expenses, travel and other
expenses which may be incurred by Agent in attempting to collect the Secured
Obligations or to enforce this Agreement or in the prosecution or defense of
any action or proceeding related to the subject matter of this Agreement; and
then to the Secured Obligations in the manner authorized by the Loan Agreement.

 

15.          Redemption;
Marshaling.  Each
Pledgor hereby waives and releases to the fullest extent permitted by
Applicable Law any right of equity of redemption with respect to the Pledged
Collateral before or after a sale conducted pursuant to Section 14
hereof.  Each Pledgor agrees that Agent
shall not be required to marshal any present or future security (including this
Agreement and the Pledged Collateral pledged hereunder) for, or guaranties of,
the Secured Obligations or any of them, or to resort to such security or
guaranties in any particular order; and all of Agent’s rights hereunder and in
respect of such security and guaranties shall be cumulative and in addition to
all other rights, however existing or arising.  To the fullest extent that it lawfully may,
each Pledgor hereby agrees that it will not invoke any law relating to the
marshaling of collateral which might cause delay in or impede the enforcement
of Agent’s rights under this Agreement or under any other instrument evidencing
any of the Secured Obligations or under which any of the Secured Obligations is
outstanding or by which any of the Secured Obligations is secured or
guaranteed, and to the fullest extent that it lawfully may, each Pledgor hereby
irrevocably waives the benefits of all such laws.

 

16.          Term.  This Agreement shall become effective only
when accepted by Agent and, when so accepted, shall constitute a continuing
agreement and shall remain in full force and effect until the Loan Agreement is
terminated and all of the Secured Obligations have been fully and finally paid,
satisfied and discharged, at which time this Agreement shall terminate and
Agent shall deliver to Pledgors, at Pledgors’ expense, (i) such of the
Pledged Collateral as shall not have been sold or otherwise applied pursuant to
this Agreement and (ii) such termination statements and other release
documents as may be requested by Pledgors to evidence the termination of Agent’s
security interest in the Pledged Collateral. Notwithstanding the foregoing, in
no event shall any termination of this Agreement terminate any indemnity set
forth in this Agreement or any of the other Loan Documents, all of which
indemnities shall survive any termination of this Agreement or any of other
Loan Documents in accordance with their respective terms.

 

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17.          Rules and
Construction.  The
singular shall include the plural and vice versa, and any gender shall include
any other gender as the text shall indicate. 
All references to “including” shall mean “including, without
limitation”.  Whenever in this Agreement
the words “equity interest” or “equity interests”  or other similar words or phrases are used in
connection with a Person referring to equity ownership interests in such
Person, such word or phrase shall also be deemed to include a reference to
membership interests, each reference to a “corporation” shall also be
deemed to include a reference to a limited liability company, each reference to
“shareholders” of a Person shall also be deemed to include a reference
to members and each reference to “certificate of incorporation” or “articles
of incorporation” or “bylaws” shall also be deemed to include a
reference to “certificate of formation” and “operating agreement” or other
constituent documents of a limited liability company, and “certificate of
limited partnership” and “limited partnership agreement” or other constituent
documents of a limited partnership.

 

18.          Successors
and Assigns.  This
Agreement shall be binding upon each Pledgor and its successors and assigns,
and shall inure to the benefit of Agent and its successors and permitted
assigns.

 

19.          Construction
and Applicable Law. 
Whenever possible, each provision of this Agreement shall be interpreted
in such manner as to be effective and valid under Applicable Law, but, if any
provision of this Agreement shall be held to be prohibited or invalid under any
Applicable Law, such provision shall be ineffective only to the extent of such
prohibition or invalidity, without invalidating the remainder of such provision
or the remaining provisions of this Agreement. 
This Agreement shall be governed by and construed in accordance with the
laws of the State of Georgia.

 

20.          Cooperation
and Further Assurances.  Each Pledgor agrees that it will cooperate
with Agent and will, upon Agent’s request, execute and deliver, or cause to be
executed and delivered, all such other powers, instruments, financing
statements, certificates, legal opinions and other documents, and will take all
such other action as Agent may reasonably request from time to time, in order
to carry out the provisions and purposes hereof, including delivering to Agent,
if requested by Agent, irrevocable proxies with respect to the Equity Interests
in form satisfactory to Agent (subject to such Pledgor’s voting rights under Section 3
hereof). Until receipt thereof, this Agreement shall constitute each
Pledgor’s proxy to Agent or its nominee to vote all shares of the Equity
Interests then registered in such Pledgor’s name (subject to such Pledgor’s
voting rights under Section 3 hereof).

 

21.          Agent’s
Exoneration.  Under no
circumstances shall Agent be deemed to assume any responsibility for or
obligation or duty with respect to any part or all of the Pledged Collateral of
any nature or kind, other than the physical custody thereof, or any matter or
proceedings arising out of or relating thereto. 
Agent shall not be required to take any action of any kind to collect,
preserve or protect its or any Pledgor’s rights in the Pledged Collateral or
against other parties thereto.  Agent’s
prior recourse to any part or all of the Pledged Collateral shall not
constitute a condition of any demand, suit or proceeding for payment or
collection of the Secured Obligations.

 

22.          Notices.  All notices, requests and demand to or upon
either party hereto shall be given in the manner and become effective as
stipulated in the Loan Agreement.

 

23.          Pledgors’
Obligations Not Affected.  The obligations of Pledgors hereunder shall remain
in full force and effect without regard to, and shall not be impaired by (a) any
bankruptcy, insolvency, reorganization, arrangement, readjustment, composition,
liquidation or the like of any Pledgor; (b) any exercise or nonexercise,
or any waiver, by Agent of any right, remedy, power or privilege under or in
respect of any of the Secured Obligations or any security thereof (including
this

 

8

 

Agreement);
(c) any amendment to or modification of the Loan Agreement, the other Loan
Documents or any of the Secured Obligations; (d) any amendment to or
modification of any instrument (other than this Agreement) securing any of the
Secured Obligations; or (e) the taking of additional security for, or any
guaranty of, any of the Secured Obligations or the release or discharge or
termination of any security or guaranty for any of the Secured Obligations,
whether or not such Pledgor shall have notice or knowledge of any of the
foregoing.

 

24.          No
Waiver, Etc.  No act, failure or delay by Agent shall
constitute a waiver of any of its rights and remedies hereunder or
otherwise.  No single or partial waiver
by Agent of any Default or Event of Default or right or remedy which Agent may
have shall operate as a waiver of any other Default, Event of Default, right or
remedy or of the same Default, Event of Default, right or remedy on a future
occasion.  Each Pledgor hereby waives
presentment, notice of dishonor and protest of all instruments included in or
evidencing any of the Secured Obligations or the Pledged Collateral, and any
and all other notices and demands whatsoever (except as expressly provided
herein).

 

25.          Section Headings.  The section headings herein are for
convenience of reference only, and shall not affect in any way the
interpretation of any of the provisions hereof.

 

26.          Agent
Appointed Attorney-In-Fact.  Each Pledgor hereby constitutes and appoints
Agent, with full power of substitution, such Pledgor’s attorney-in-fact for the
purpose of carrying out the provisions of this Agreement and taking any action
and executing any instrument which Agent may reasonably deem necessary or
advisable to accomplish the purposes hereof, which appointment is coupled with
an interest and is irrevocable; provided, that, Agent may only
utilize such power of attorney if an Event of Default exists.  Without limiting the generality of the
foregoing, Agent shall have the power to arrange for the transfer, upon
the occurrence and during the continuation of an Event of Default, of any of
the Pledged Collateral on the books of any or all of Companies to the name of
Agent or Agent’s nominee.  Each Pledgor
agrees to indemnify and save Agent harmless from and against any liability or
damage which Agent may suffer or incur, in the exercise or performance of any
of Agent’s powers and duties specifically set forth herein, except for any
liability or damage resulting from Agent’s actual gross negligence or willful
misconduct.

 

27.          Use of
Loan Proceeds.  Each Pledgor hereby represents and warrants
to Agent that none of the loan proceeds heretofore and hereafter received by
Borrowers under the Loan Agreement are for the purpose of purchasing any “margin
security” in violation of Section 9.1.24 of the Loan Agreement.

 

28.          Waiver
of Subrogation and Other Claims.  Each Pledgor recognizes that Agent, in
exercising its rights and remedies with respect to the Pledged Collateral, may
likely be unable to find one or more purchasers thereof if, after the sale of
the Pledged Collateral, a Company were, because of any claim based on
subrogation or any other theory, liable to any Pledgor on account of the sale
by Agent of the Pledged Collateral in full or partial satisfaction of the
Secured Obligations or liable to any Pledgor on account of any indebtedness owing
to any Pledgor that is subordinated to any or all of the Secured
Obligations.  Each Pledgor hereby agrees,
therefore, that if, in accordance with Applicable Law, Agent sells any of the
Pledged Collateral in full or partial satisfaction of the Secured Obligations,
such Pledgor shall in such case have no right or claim against any Company on
account of any such subordinated indebtedness on the theory that such Pledgor
has become subrogated to any claim or right of Agent against such Company or on
any basis whatsoever, and each Pledgor hereby expressly waives and relinquishes
all such rights and claims against Companies.

 

9

 

29.          Amendment and
Restatement.

 

(a)           This Agreement amends and
restates the Existing Pledge Agreement. 
All rights, benefits, indebtedness, interests, liabilities and
obligations of the parties to the Existing Pledge Agreement and the agreements,
documents and instruments executed and delivered in connection with the
Existing Pledge Agreement (collectively, the “Existing Pledge Documents”) are hereby renewed,
amended, restated and superseded in their entirety according to the terms and
provisions set forth in this Agreement and the other Loan Documents.  This Agreement does not constitute, nor shall
it result in, a waiver of, or release, discharge or forgiveness of, any amount
payable pursuant to the Existing Pledge Agreement or any indebtedness,
liabilities or obligations of any Pledgor thereunder, all of which are renewed
and continued and are hereafter payable and to be performed in accordance with
this Agreement and the other Loan Documents. 
Neither this Agreement nor any of the other Loan Documents extinguishes
the indebtedness or liabilities outstanding in connection with the Existing Pledge
Documents, nor do they constitute a novation with respect thereto.

 

(b)           All security
interests, pledges, assignments, and other Liens previously granted by each
Pledgor pursuant to the Existing Pledge Documents are hereby renewed and
continued, and all such security interests, pledges, assignments and other
Liens shall remain in full force and effect as security for the Secured
Obligations.

 

30.          WAIVERS.  EACH PLEDGOR HEREBY WAIVES:  NOTICE OF LENDER’S ACCEPTANCE OF THIS
AGREEMENT; NOTICE OF EXTENSIONS OF CREDIT, LOANS, ADVANCES OR OTHER FINANCIAL
ASSISTANCE BY AGENT AND LENDERS TO BORROWERS; TO THE FULLEST EXTENT PERMITTED
BY LAW, THE RIGHT TO TRIAL BY JURY (WHICH AGENT AND LENDERS ALSO WAIVE) IN ANY
ACTION, SUIT, PROCEEDING OR COUNTERCLAIM CONCERNING THIS AGREEMENT OR ANY OF
THE PLEDGED COLLATERAL; PRESENTMENT AND DEMAND FOR PAYMENT OF ANY OF THE
SECURED OBLIGATIONS; PROTEST AND NOTICE OF DISHONOR OR DEFAULT WITH RESPECT TO
ANY OF THE SECURED OBLIGATIONS; AND ALL OTHER NOTICES TO WHICH SUCH PLEDGOR MIGHT
OTHERWISE BE ENTITLED EXCEPT AS HEREIN OTHERWISE EXPRESSLY PROVIDED.

 

[Remainder of page intentionally left blank; signatures begin on
following page.]

 

10

 

IN
WITNESS WHEREOF, each Pledgor has signed, sealed and delivered this Agreement
on the day and year first above written.

 

	
   

  	
  SUPERIOR ESSEX INC.

  
	
   

  	
  (“Pledgor”)

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
  [CORPORATE
  SEAL]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SUPERIOR ESSEX HOLDING CORP.

  
	
   

  	
  (“Pledgor”)

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
  [CORPORATE
  SEAL]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SE COMMUNICATIONS GP INC.

  
	
   

  	
  (“Pledgor”)

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
  [CORPORATE
  SEAL]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ESSEX INTERNATIONAL INC.

  
	
   

  	
  (“Pledgor”)

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
  [CORPORATE
  SEAL]

  
	
   

  	
   

  
	
   

  	
   

  
	
  [Signatures continue on
  following page.]

  

 

Amended and Restated Pledge Agreement -
Guarantors

 

 

	
   

  	
  ESSEX CANADA INC.

  
	
   

  	
  (“Pledgor”)

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
  [CORPORATE
  SEAL]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ESSEX GROUP MEXICO INC.

  
	
   

  	
  (“Pledgor”)

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
  [CORPORATE
  SEAL]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ESSEX GROUP, INC.

  
	
   

  	
  (“Pledgor”)

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
  [CORPORATE
  SEAL]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ESSEX MEXICO HOLDINGS, L.L.C.

  
	
   

  	
  (“Pledgor”)

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
  [SEAL]

  
	
   

  	
   

  
	
   

  	
   

  
	
  [Signatures continue on
  following page.]

  

 

Amended and Restated Pledge Agreement -
Guarantors

 

 

	
   

  	
  ESSEX GROUP MEXICO INC.

  
	
   

  	
  (“Pledgor”)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
  [CORPORATE SEAL]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Accepted
  in Atlanta, Georgia:

  
	
   

  	
   

  
	
   

  	
  BANK OF AMERICA, N.A.,

  
	
   

  	
  as Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  

 

Amended and Restated Pledge Agreement -
Guarantors

 

 

ANNEX A

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Percentage of

  
	
   

  	
   

  	
   

  	
   

  	
  Type and Class of

  	
   

  	
  Number of Pledged

  	
   

  	
  Outstanding Equity

  
	
  Pledgor

  	
   

  	
  Issuer

  	
   

  	
  Equity Interests

  	
   

  	
  Equity Interests

  	
   

  	
  Interests

  
	
  Superior Essex, Inc.

  	
   

  	
  Superior Essex Holding Corp.

  	
   

  	
  Common

  	
   

  	
  1,000

  	
   

  	
  100%

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Superior Essex Holding Corp.

  	
   

  	
  Essex International Inc.

  	
   

  	
  Common

  	
   

  	
  100

  	
   

  	
  100%

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Superior Essex Holding Corp.

  	
   

  	
  SE Communications GP Inc.

  	
   

  	
  Common

  	
   

  	
  1,000

  	
   

  	
  100%

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Superior Essex Holding Corp.

  	
   

  	
  Superior Essex Communications LP

  	
   

  	
  Limited Partnership
  Interests

  	
   

  	
  N/A

  	
   

  	
  100%

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SE Communications GP Inc.

  	
   

  	
  Superior Essex Communications LP

  	
   

  	
  General Partnership
  Interests

  	
   

  	
  N/A

  	
   

  	
  100%

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Essex International Inc.

  	
   

  	
  Essex Group, Inc.

  	
   

  	
  Common

  	
   

  	
  100

  	
   

  	
  100%

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Essex Group Mexico, Inc.

  	
   

  	
  Essex Group Mexico S.A. de CV.

  	
   

  	
  Common

  	
   

  	
  3,250

  	
   

  	
  65%

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Essex Group Mexico, Inc.

  	
   

  	
  Essex Mexico Holdings, L.L.C.

  	
   

  	
  N/A

  	
   

  	
  N/A

  	
   

  	
  100%

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Essex Group Mexico, Inc.

  	
   

  	
  Grupo Essex de Mexico, S. de. R.L. de C.V.

  	
   

  	
  Common

  	
   

  	
  1,950

  	
   

  	
  65%

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Essex Group Mexico, Inc.

  	
   

  	
  Essex Comercial Mexico

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  65%

  

 

Amended and Restated Pledge Agreement -
GuarantorsExhibit 10.22

 

AMENDED AND
RESTATED CONTINUING GUARANTY AGREEMENT

 

THIS AMENDED AND RESTATED
CONTINUING GUARANTY AGREEMENT (this “Guaranty”) is made on August 5,
2008, by SUPERIOR ESSEX INC., a Delaware
corporation (“SEI”); SUPERIOR ESSEX HOLDING
CORP., a Delaware corporation (“Parent”); SE COMMUNICATIONS GP
INC., a Delaware corporation
(“SEC GP”); ESSEX INTERNATIONAL INC.,
a Delaware corporation (“Essex International”); ESSEX
CANADA INC., a Delaware corporation (“Essex Canada”); ESSEX GROUP MEXICO INC., a Delaware corporation (“Essex
Mexico”); and ESSEX MEXICO HOLDINGS,
L.L.C., a Delaware limited liability company (“EMH”; SEI,
Parent, SEC GP, Essex International, Essex Canada, Essex Mexico, and EMH are
collectively referred to herein as “Guarantors” and individually as “Guarantor”),
in favor of each of the financial institutions (collectively, “Lenders”)
now or hereafter parties to the Loan Agreement (as defined below) and BANK OF AMERICA, N.A.,  a national
banking association with a mailing address at 300 Galleria Parkway, N.W., Suite 800,
Atlanta, Georgia 30339, as administrative and collateral  agent
(in such capacity, together with its successors in such capacity, “Agent”)
for each of Lenders and the other Credit Parties (as defined in the Loan
Agreement) (Agent and each other Credit Party are collectively referred to
herein as “Guaranteed Parties” and individually as “Guaranteed Party”).

 

Recitals:

 

Pursuant to that certain
Credit Agreement dated November 10, 2003, as amended and restated by that
certain Amended and Restated Loan and Security Agreement dated April 14,
2006,  among SUPERIOR ESSEX COMMUNICATIONS LP, a Delaware limited partnership (“Superior Essex”), ESSEX GROUP, INC., a Michigan corporation (“Essex”;
Superior Essex and Essex are collectively referred to herein as “U.S.
Borrowers”), Agent, and the various financial institutions party thereto
from time to time (the “Existing Lenders”) (as at any time
amended, restated, modified or otherwise supplemented prior to the date hereof,
the “Existing Loan Agreement”), the Existing Lenders agreed to make
loans to, and issue letters of credit and provide other financial
accommodations on behalf of, U.S. Borrowers.

 

In connection with the
Existing Loan Agreement, certain of the Guarantors executed and delivered that
certain Continuing Guaranty Agreement dated November 10, 2003 in favor of
Agent and the Existing Lenders, which Continuing Guaranty Agreement was further
acknowledged and reaffirmed pursuant to that certain Acknowledgement
Reaffirmation of Loan Documents dated April 14, 2006 (as at any time amended, restated,
modified or otherwise supplemented prior to the date hereof, the “Existing
Guaranty”), pursuant to which the Guarantors jointly and severally
unconditionally guaranteed to the Agent and the Existing Lenders the payment
and performance of all of the “Guaranteed Obligations” as defined therein.

 

Guaranteed Parties, U.S.
Borrowers and ESSEX GROUP CANADA INC., a Nova Scotia
company (“Canadian Borrower”; U.S. Borrowers and Canadian Borrower are
collectively referred to herein as “Borrowers” and individually as “Borrower”),
have now entered into a certain Second Amended and Restated Loan Agreement
dated the date hereof, 2006 (as at any time amended, restated, modified or
supplemented, the “Loan Agreement”), which Loan Agreement amends and
restates the Existing Loan Agreement.

 

It is a condition to the
Guaranteed Parties’ willingness to make loans and other financial
accommodations to or for the benefit of the Borrowers under the Loan Agreement
that each of the Guarantors agreed to amend and restate the Existing Guaranty
in its entirety as hereinafter set forth.

 

Each of the Guarantors has
determined that it is and will be the best interest and to the direct advantage
of such Guarantor to assist the Borrowers in borrowing money and obtaining
extensions of

 

 

credit
from the Agent and the Lenders under the Loan Agreement in order to further the
business of such Guarantor, and each Guarantor agrees that the Existing
Guaranty is hereby amended and restated in its entirety by this Guaranty, and
each Guarantor agrees to unconditionally guarantee to the Guaranteed Parties
all of the Guaranteed Obligations (as defined herein), and to ratify, renew and
continue the prior “Guaranteed Obligations” as defined in the Existing
Guaranty, all on the terms set forth herein.

 

Agreement:

 

NOW,
THEREFORE, for Ten Dollars ($10) in hand paid and in consideration of the
premises and the mutual covenants and agreements set forth herein, the parties
hereto hereby agrees to amend and restate the Existing Guarantee as follows:

 

1.             Definitions; Rules of
Construction.  Capitalized terms used herein, unless otherwise defined, shall have the
meanings ascribed to them in the Loan Agreement.  As used herein, the words “herein,” “hereof,”
“hereunder,” and “hereon” shall have reference to this Guaranty
taken as a whole and not to any particular provision hereof; and the word “including”
shall mean “including, without limitation.”

 

2.             Guaranty. 
(a)  Each
Guarantor hereby unconditionally and absolutely guarantees to each Guaranteed
Party the due and punctual payment, performance and discharge (whether upon
stated maturity, demand, acceleration or otherwise in accordance with the terms
thereof) of all of the Obligations, including, without limitation, the U.S.
Obligations and the Canadian Obligations, whether direct or indirect, absolute
or contingent, secured or unsecured, due or to become due, joint or several,
primary or secondary, liquidated or unliquidated, now existing or hereafter
incurred, created or arising, and howsoever evidenced, whether created directly
to or acquired by assignment or otherwise by any Guaranteed Party, and whether
Borrowers may be liable individually or jointly with others, and regardless of
whether recovery upon any of such Obligations becomes barred by any statute of
limitations, is void or voidable under any law relating to fraudulent
obligations or otherwise or is or becomes invalid or unenforceable for any
other reason (all of such Obligations being jointly referred to herein as the “Guaranteed
Obligations”).  Without limiting the
generality of the foregoing, the term “Guaranteed Obligations” as used
herein shall include all debts, liabilities and obligations incurred by a
Borrower to any of Guaranteed Parties in any bankruptcy case or Insolvency
Proceeding of such Borrower and any interest, fees or other charges accrued in
any such bankruptcy, whether or not any such interest, fees or other charges
are recoverable from such Borrower or its estate under 11 U.S.C. § 506 or other
Applicable Law.

 

(b)           No Guaranteed Party shall be under any obligation to marshal any assets
in favor of any Guarantor or in payment of any of the Guaranteed
Obligations.  If and to the extent any
Guaranteed Party receives any payment on account of any of the Guaranteed
Obligations (whether from Borrowers, any Guarantor or a third party obligor or
from the sale or other disposition of any Collateral) and such payment or any
part thereof is subsequently invalidated, declared to be fraudulent or
preferential, set aside or required to be repaid to a trustee, receiver or any
other Person under any state, federal or foreign bankruptcy or other insolvency
law, common law or equitable cause, then the part of the Guaranteed Obligations
intended to be satisfied shall be revived and continued in full force and
effect as if said payment had not been made. 
The foregoing provisions of this paragraph shall survive Full Payment of
the Obligations and the termination of this Guaranty.

 

(c)            Agent, for and on behalf of the Guaranteed
Parties, shall have the right to seek recourse against Guarantors to the full
extent provided for herein and against Borrowers to the full extent provided
for in any of the Loan Documents.  No
election to proceed in one form of action or proceeding, or against any Person,
or on any obligation, shall constitute a waiver of any Guaranteed Party’s right
to proceed in any other form of action or proceeding or against any other
Person unless such Guaranteed

 

2

 

Party
has expressly waived such right in writing. 
Specifically, but without limiting the generality of the foregoing, no
action or proceeding by Guaranteed Parties against Borrowers under the Loan
Documents or any other instrument or agreement evidencing or securing
Guaranteed Obligations shall serve to diminish the liability of Guarantors for
the balance of the Guaranteed Obligations.

 

3.             Nature of Guaranty. 
This Guaranty is a
primary, immediate and original obligation of each Guarantor; is an absolute,
unconditional, continuing and irrevocable guaranty of payment of the Guaranteed
Obligations and not of collectibility only; is not contingent upon the exercise
or enforcement by Guaranteed Parties of whatever rights or remedies Guaranteed
Parties may have against Borrowers or others, or the enforcement of any Lien or
realization upon any Collateral or other security that any of Guaranteed
Parties may at any time possess; and shall remain in full force and effect
without regard to future changes in conditions, including change of law or any
invalidity or unenforceability of any Guaranteed Obligations or agreements
evidencing same.  This Guaranty shall be
in addition to any other present or future guaranty or other security for any
of the Guaranteed Obligations, shall not be prejudiced or unenforceable by the
invalidity of any such other guaranty or security, and is not conditioned upon
or subject to the execution by any other Person of this Guaranty or any other
guaranty or suretyship agreement.  This
Guaranty is secured by security interests and other Liens granted by each
Guarantor to Agent pursuant to the Security Documents executed by such
Guarantor.

 

4.             Payment and Enforcement of
Guaranteed Obligations.  (a)  If any Guarantor should dissolve or become insolvent (within the
meaning of the UCC), or if a petition for an order for relief with respect to
any Guarantor should be filed by or against any Guarantor under any chapter of
the Bankruptcy Code, or if a receiver, trustee, conservator or other custodian
should be appointed for any Guarantor or any of any Guarantor’s property, or if
an Event of Default shall occur and be continuing, then, in any such event
and whether or not any of the Guaranteed Obligations are then due and
payable or the maturity thereof has been accelerated or demand for payment
thereof has been made, Agent, on behalf of Guaranteed Parties, may, without
notice to any Guarantor, make the Guaranteed Obligations immediately due and
payable hereunder as to each Guarantor, and Agent, on behalf of Guaranteed
Parties, shall be entitled to enforce the obligations of each Guarantor
hereunder as if the Guaranteed Obligations were then due and payable in
full.  If any of the Guaranteed Obligations
are collected by or through an attorney at law, Guarantors agree to jointly and
severally pay to Guaranteed Parties reasonable attorneys’ fees and court
costs.  Guarantors shall be jointly and
severally obligated to make payments under this Guaranty with respect to U.S.
Obligations in Dollars, and with respect to Canadian Obligations in Canadian
Dollars, or, in the case of Canadian Obligations, in an amount that is the
Dollar Equivalent of such Canadian Obligations. 
Guarantors shall be obligated to make multiple payments under this Guaranty
to the extent necessary to cause Full Payment of the Guaranteed Obligations.

 

(b)           Any and all payments by any Guarantor hereunder shall be made free and
clear of and without deduction for any setoff, counterclaim, or withholding so
that, in each case, Guaranteed Parties shall receive, after giving effect to
any taxes (excluding taxes imposed on the overall net income of Guaranteed
Parties to the extent excluded pursuant to the Loan Agreement), the full amount
that they would otherwise be entitled to receive with respect to the Guaranteed
Obligations (but without duplication of amounts for taxes already included in
the Guaranteed Obligations).  If for any
reason any Borrower has no legal existence or is under no legal obligation to
discharge any of the Guaranteed Obligations, or if any of the Guaranteed
Obligations become unrecoverable from any Borrower by reason of such Borrower’s
insolvency, bankruptcy or reorganization or by other operation of law or for
any other reason, this Guaranty shall nevertheless be binding on each Guarantor
to the same extent as if such Guarantor had at all times been the principal
obligor on all such Guaranteed Obligations. 
If acceleration of the time for payment of any of the Guaranteed
Obligations is stayed upon the insolvency, bankruptcy, dissolution or
reorganization of debt or for any other reason, all such amounts otherwise
subject to acceleration under the terms of any Loan Documents or other
instrument or agreement evidencing or securing the payment of the Guaranteed Obligations
shall nevertheless be immediately due and payable by Guarantors.

 

3

 

(c)            The books and records of Agent showing the
amounts owed to Guaranteed Parties by Borrowers shall be admissible in evidence
in any action or proceeding against or involving any Guarantor as prima facie proof of the items therein set
forth, and the monthly statements of Agent rendered to Borrowers, to the extent
no written objection thereto is made within 30 days from the date of sending
thereof to Borrowers, shall be deemed conclusively correct and shall constitute
an account stated between Guaranteed Parties and Borrowers and shall be binding
on Guarantors.

 

(d)           Each Guarantor acknowledges that Agent is
authorized and empowered to enforce this Guaranty for the benefit of all of the
Guaranteed Parties and to collect from Guarantors the amount of the Guaranteed
Obligations from time to time, in Agent’s own name and without the necessity of
joining any other Guaranteed Party in any action, suit or other proceeding to
enforce this Guaranty.

 

5.             Specific Waivers of Each
Guarantor.  (a)  To the fullest extent permitted by Applicable Law, each
Guarantor does hereby waive notice of each Guaranteed Party’s acceptance hereof
and reliance hereon; notice of the extension of credit from time to time by
Guaranteed Parties to any Borrower and the creation, existence or acquisition
of any Guaranteed Obligations; notice of the amount of Guaranteed Obligations
of Borrowers to Guaranteed Parties from time to time (subject, however, to such
Guarantor’s right to make inquiry of Agent to ascertain the amount of
Guaranteed Obligations at any reasonable time); notice of any adverse change in
any Borrower’s financial condition or of any other fact which might increase
such Guarantor’s risk; notice of presentment for payment, demand, protest and
notice thereof as to any instrument; notice of default or acceleration; all
other notices and demands to which such Guarantor might otherwise be entitled
(except those notices or demands Agent has expressly agreed to provide in the
Loan Agreement); any right such Guarantor may have, by statute or otherwise, to
require Agent or the other Guaranteed Parties to institute suit against any
Borrower after notice or demand from such Guarantor or to seek recourse first
against Borrowers or otherwise, or to realize upon any security for the
Guaranteed Obligations, as a condition to enforcing such Guarantor’s liability
and obligations hereunder; any defense that any Borrower may at any time have
or assert based upon the statute of limitations, the statue of frauds, failure
of consideration, fraud, bankruptcy, insolvency, receivership, lack of legal
capacity, usury, or accord and satisfaction; any defense that other indemnity,
guaranty, or security was to be obtained; any defense or claim that any Person
purporting to bind any Borrower to the payment of any of the Guaranteed
Obligations did not have actual or apparent authority to do so; any right to
contest the commercial reasonableness of the disposition of any Collateral; any
defense or claim that any other act or failure to act by any Guaranteed Party
had the effect of increasing such Guarantor’s risk of payment; and any other
legal or equitable defense to payment hereunder.  Without limiting the generality of the
foregoing, each Guarantor waives all rights to require Agent or the other
Guaranteed Parties to proceed against Borrowers.

 

(b)           To the fullest extent permitted by Applicable
Law, each Guarantor also hereby waives
and renounces (for itself and its successors) any and all rights or
defenses arising by reason of any “one action” or “anti-deficiency” law which
would otherwise prevent Agent or the other Guaranteed Parties from bringing any
action, including any claim for a deficiency, or exercising any other right or
remedy (including any right of setoff) against such Guarantor before or after
any Guaranteed Party’s commencement or completion of any foreclosure action,
whether by judicial action, by exercise of power of sale or otherwise, or any
other law which in any other manner would otherwise require any election of
remedies by Agent or any other Guaranteed Party; and any right that such
Guarantor may have to claim or recover in any litigation arising out of this
Guaranty or any of the other Loan Documents, any special, exemplary, punitive
or consequential damages or any damages other than, or in addition to, actual
damages.

 

6.             Guarantors’ Consents and
Acknowledgments.  (a)  Each Guarantor consents and agrees that, without notice to or
by such Guarantor and without reducing, releasing, diminishing, impairing or
otherwise affecting the liability or obligations of such Guarantor hereunder,
Agent, on behalf

 

4

 

of the Guaranteed Parties, may (with or without consideration)
compromise or settle any of the Guaranteed Obligations; accelerate the time for
payment of any of the Guaranteed Obligations following the occurrence and
during the continuation of an Event of Default; extend the period of duration
or the time for the payment, discharge or performance of any of the Guaranteed
Obligations; increase the amount of the Guaranteed Obligations; refuse to
enforce, or release all or any Persons liable for the payment of, any of the
Guaranteed Obligations; increase, decrease or otherwise alter the rate of
interest payable with respect to the principal amount of any of the Guaranteed
Obligations or grant other indulgences to Borrowers in respect thereof; amend,
modify, terminate, release, or waive any Loan Documents or any other documents
or agreements evidencing, securing or otherwise relating to the Guaranteed
Obligations (other than this Guaranty); release, surrender, exchange, modify or
impair, or consent to the sale, transfer or other disposition of, any
Collateral or other property at any time securing (directly or indirectly) any
of the Guaranteed Obligations or on which Guaranteed Parties may at any time
have a Lien; fail or refuse to perfect (or to continue the perfection of) any
Lien granted or conveyed to any Guaranteed Party with respect to any
Collateral, or to preserve rights to any Collateral, or, except to the extent
otherwise provided in the Loan Documents, to exercise care with respect to any
Collateral in any Guaranteed Party’s possession; extend the time of payment of
any Collateral consisting of accounts, notes, chattel paper, payment
intangibles or other rights to the payment of money; refuse to enforce or
forbear from enforcing its rights or remedies with respect to any Collateral or
any Person liable for any of the Guaranteed Obligations or make any compromise
or settlement or agreement therefor in respect of any Collateral or with any
party to the Guaranteed Obligations; release or substitute any one or more of
the endorsers or guarantors of the Guaranteed Obligations, whether parties to
this Guaranty or not; subordinate payment of any of the Guaranteed Obligations
to the payment of any other liability of any Borrower; or apply any payments or
proceeds of Collateral received to the liabilities of any Borrower to any
Guaranteed Party regardless of whether such liabilities consist of Guaranteed
Obligations and regardless of the manner order or of any such application.

 

(b)           Each Guarantor is fully aware of the financial condition of each
Borrower.  Each Guarantor delivers this
Guaranty based solely upon such Guarantor’s own independent investigation and
in no part upon any representation or statement of any Guaranteed Party with
respect thereto.  Each Guarantor is in a
position to and hereby assumes full responsibility for obtaining any additional
information concerning each Borrower’s financial condition as such Guarantor
may deem material to such Guarantor’s obligations hereunder, and such Guarantor
is not relying upon, nor expecting any Guaranteed Party to furnish such
Guarantor with, any information in any Guaranteed Party’s possession concerning
any Borrower’s financial condition.  If
Agent, in its sole discretion, undertakes at any time or from time to time to
provide any information to any Guarantor regarding Borrowers, any of the
Collateral or any transaction or occurrence in respect of any of the Loan
Documents, neither Agent nor any of the other Guaranteed Parties shall be under
any obligation to update any such information or to provide any such
information to such Guarantor on any subsequent occasion.  Each  Guarantor
hereby knowingly accepts the full range of risks encompassed within a contract
of “Guaranty,” which risks include, without limitation, the possibility that
Borrowers will contract additional indebtedness for which such Guarantor may be
liable hereunder after Borrowers’ financial condition or ability to pay their
lawful debts when they fall due has deteriorated.

 

7.             Continuing Nature of Guaranty. 
(a)  This Guaranty
shall continue in full force and effect until Full Payment of the Guaranteed
Obligations.  Each Guarantor acknowledges
that there may be future advances by Guaranteed Parties to Borrowers (although
Guaranteed Parties may be under no obligation to make such advances) and that
the number and amount of the Guaranteed Obligations may be unlimited and may
fluctuate from time to time hereafter, and this Guaranty shall remain in force
at all times hereafter, whether there are any Guaranteed Obligations outstanding
from time to time or not until Full Payment of the Guaranteed Obligations.

 

5

 

(b)           To the fullest extent permitted by Applicable Law, each Guarantor
waives any right that such Guarantor may have to terminate or revoke this
Guaranty.  If, notwithstanding the
foregoing waiver, any Guarantor shall nevertheless have any right under
Applicable Law to terminate or revoke this Guaranty, which right cannot be
waived by such Guarantor, such termination or revocation shall not be effective
until a written notice of such termination or revocation, specifically
referring to this Guaranty and signed by such Guarantor, is actually received
by an officer of Agent who is familiar with Borrowers’ account with Guaranteed
Parties and this Guaranty; but any such termination or revocation shall not
affect the obligation of any Guarantor or any Guarantor’s successors or assigns
with respect to any of the Guaranteed Obligations owing to Guaranteed Parties
and existing at the time of the receipt by Agent of such revocation or to arise
out of or in connection with any transactions theretofore entered into by
Guaranteed Parties with or for the account of Borrowers.  If any Guaranteed Party grants loans or other
extensions of credit to or for the benefit of any Borrower or takes other
action after the termination or revocation by any Guarantor but prior to Agent’s
receipt of such written notice of termination or revocation, then the rights of
such Guaranteed Party hereunder with respect thereto shall be the same as if
such termination or revocation had not occurred.

 

8.             Subordination; Postponement of
Subrogation Rights.  (a) 
Any and all present and future debts and obligations of Borrowers to Guarantors
are hereby subordinated to the full payment of the Guaranteed Obligations by
Borrowers to Guaranteed Parties.  If any
payment shall be made to any Guarantor on account of any indebtedness owing by
Borrowers to such Guarantor during any time that any Guaranteed Obligations are
outstanding, such Guarantor shall hold such payment in trust for the benefit of
Guaranteed Parties and shall make such payments to Agent to be credited and
applied against the Guaranteed Obligations, whether matured or unmatured, in
accordance with the discretion of Agent, pursuant to the terms of the Loan
Agreement.  The provisions of this
Guaranty shall be supplemental to and not in derogation of any rights and
remedies of any Guaranteed Party or any affiliate of any Guaranteed Party under
any separate subordination agreement that such Guaranteed Party or such
affiliate may at any time or from time to time enter into with any Guarantor.

 

(b)           Until Full Payment of the Guaranteed Obligations, no Guarantor shall
have any claim, right or remedy (whether or not arising in equity, by contract
or Applicable Law) against Borrowers or any other Person by reason of any
Guarantor’s payment or other performance hereunder.  Without limiting the generality of the
foregoing, each Guarantor hereby subordinates to the Full Payment of the
Guaranteed Obligations any and all legal or equitable rights or claims that
such Guarantor may have to reimbursement, subrogation, indemnity and
exoneration and agrees that until Full Payment of all of the Guaranteed
Obligations, such Guarantor shall have no recourse to any assets or property of
Borrowers (including any Collateral) and no right of recourse against or
contribution from any other Person in any way directly or contingently liable
for any of the Guaranteed Obligations, whether any of such rights arise under
contract, in equity or under Applicable Law.

 

9.             Other Guaranties.  If on
the date of Guarantors’ execution of this Guaranty or at any time thereafter
any Guaranteed Party receives any other guaranty from any Guarantor or from any
other Person of any of the Guaranteed Obligations, the execution and delivery
to such Guaranteed Party and such Guaranteed Party’s acceptance of any such
additional guaranty shall not be deemed in lieu of or to supersede, terminate
or diminish this Guaranty, but shall be construed as an additional or
supplementary guaranty unless otherwise expressly provided in such additional
or supplementary guaranty; and if, prior to the date hereof, any Guarantor or
any other Person has given to any Guaranteed Party a previous guaranty or
guaranties, this Guaranty shall be construed to be an additional or
supplementary guaranty and not to be in lieu thereof or to supersede, terminate
or diminish such previous guaranty or guaranties.

 

10.          Application of Payments.  Unless otherwise required by Applicable Law
or a specific agreement to the contrary, all payments received by Guaranteed
Parties from Borrowers, Guarantors or any other Person with respect to the
Guaranteed Obligations or from proceeds of the Collateral may be

 

6

 

applied (or reversed and reapplied) by Agent to the Guaranteed
Obligations in accordance with the Loan Agreement, without affecting in any
manner any Guarantor’s liability hereunder.

 

11.          Limitation on Guaranty.  To the extent any performance of this
Guaranty would violate any applicable usury statute or other Applicable Law,
the obligation to be fulfilled shall be reduced to the limit legally permitted,
so that this Guaranty shall not require any performance in excess of the limit
legally permitted, but such obligations shall be fulfilled to the limit of
legal validity.  Nothing in this Guaranty
shall be construed to authorize Guaranteed Parties to collect from Guarantors
any interest that has not yet accrued, is unearned or subject to rebate or is
otherwise not entitled to be collected by Guaranteed Parties under Applicable
Law.   The provisions of this paragraph shall control
every other provision of this Guaranty.

 

12.          Representations, Warranties and Covenants of Guarantors. 
Each Guarantor
represents and warrants to the Guaranteed Parties that, as of the Closing Date,
such Guarantor is now Solvent and, after giving effect to the transactions
described in the Loan Documents and the issuance of this Guaranty, will be
Solvent; the financial statements of such Guarantor furnished to the Guaranteed
Parties have been prepared in a manner consistent with the financial statements
referred to in Section 9.1.8 of the Loan Agreement; to the best of
Guarantors’ knowledge, there are no facts or circumstances in existence on the
Closing Date which any Guarantor has failed to disclose to Agent and the
Guaranteed Parties in writing that could reasonably be expected to have a
Material Adverse Effect; there are no actions, suits, proceedings or
investigations pending or, to the knowledge of any Guarantor, threatened on the
date hereof against or affecting any Guarantor, or the business, operations,
Properties, prospects, profits or condition of any Guarantor (i) which
relate to any of the Loan Documents or any of the transactions contemplated
thereby or (ii) which, if adversely determined to any Guarantor, could
reasonably be expected to have a Material Adverse Effect; and there are no
Liens upon (A) any of the Pledged Collateral pledged by SEI pursuant to
its Pledge Agreement, and (B) any of any other Guarantor’s Property, in
each case, other than Permitted Liens, such term to be applicable mutatis
mutandis to each Guarantor and its Property. 
Each Guarantor shall give Agent written notice promptly after such
Guarantor obtains knowledge of (i) the commencement of any litigation
affecting such Guarantor to the extent that such litigation, if adversely
determined to such Guarantor, could reasonably be expected to have a Material
Adverse Effect; (ii) the filing of any tax Lien for taxes due and payable
that are not being Properly Contested; and (iii) the existence of any
material  default by such Guarantor
under any agreement or instrument relating to Debt for Money Borrowed exceeding
$1,000,000; or any Insolvency Proceeding commenced by or against such
Guarantor. At such reasonable times as Agent requests, each Guarantor shall
furnish copies of its current financial statements to Agent and permit Agent
and Guaranteed Parties or their representatives to inspect Guarantor’s
financial records and properties and make copies thereof or extracts therefrom
in order to evaluate the financial condition of such Guarantor, on reasonable
prior notice, at reasonable times during normal business hours.

 

13.          Notices.  All
notices, demands, requests, consents, approvals and other communications
required or permitted hereunder must be in writing and shall be effective upon
receipt by the noticed party.  Acceptable
methods for giving notices hereunder shall include first-class U.S. mail,
facsimile transmission and commercial courier service.  Regardless of the manner in which notice is
provided, notices may be sent to the addresses for Agent and Guarantors as set
forth above or to such other address as any party may give to the others for
such purpose in accordance with this Section.

 

14.          Governing Law; Venue.  This
Guaranty, all acts and transactions hereunder and the rights and obligations of
the parties hereto shall be governed, construed and interpreted according to
the internal laws of the State of Georgia. 
All actions, suits or proceedings arising directly or indirectly
hereunder may, at the option of Agent, be litigated in courts having situs
within the State of Georgia, and each Guarantor hereby expressly consents to
the jurisdiction of any state or federal court located within said state and
agrees that any service of process in such action or proceedings may be made by
personal

 

7

 

service upon such Guarantor wherever such Guarantor may be then
located, or by certified or registered mail directed to such Guarantor at such
Guarantor’s last known address; provided, however, that the foregoing shall not
prevent Agent or any of the other Guaranteed Parties from bringing any action,
enforcing any Lien  or judgment or exercising
any rights or remedies against any Guarantor, against any Collateral, or
against any property of any Guarantor, within any other county, state or other
foreign or domestic jurisdiction.  Each
Guarantor waives any objection to venue and any objection based on a more
convenient form in any action instituted under this Guaranty.

 

15.          Successors and Assigns.  All the rights, benefits and privileges of
Guaranteed Parties shall vest in, and be enforceable by Guaranteed Parties and
their respective successors, transferees and assigns.  This Guaranty shall be binding upon each
Guarantor and each Guarantor’s successors and assigns.  Without limiting the generality of the
foregoing, any Guaranteed Party may assign, in accordance with the terms of the
Loan Agreement, to one or more banks or other entities all or any part of the
Guaranteed Obligations, whereupon each such bank or other entity shall become
vested with all of the rights in respect thereof granted to such Guaranteed
Party herein or otherwise in respect hereof.

 

16.          Miscellaneous.  This Guaranty expresses the entire understanding of the parties with
respect to the subject matter hereof and may not be changed orally, and no
obligation of any Guarantor can be released or waived by any Guaranteed Party
or any officer or agent of any Guaranteed Party, except by a writing signed by
a duly authorized officer of Agent.  If
any part of this Guaranty is determined to be invalid, the remaining provisions
of this Guaranty shall be unaffected and shall remain in full force and
effect.  No delay or omission on any
Guaranteed Party’s part to exercise any right or power arising hereunder will
impair any such right or power or be considered a waiver of any such right or
power, nor will any Guaranteed Party’s action or inaction impair any such right
or power, and all of Guaranteed Parties’ rights and remedies hereunder are
cumulative and not exclusive of any other rights or remedies that Guaranteed
Parties may have under other agreements, at law or in equity.  Time is of the
essence of this Guaranty and of each provision hereof.  The section headings in this Guaranty are
inserted for convenience of reference only and shall in no way alter, modify or
define, or be used in construing, the text of this Guaranty.  This Guaranty may be executed in multiple
counterparts, all of which taken together shall constitute one and the same
Guaranty and the signature page of any counterpart may be removed
therefrom and attached to any other counterpart.

 

17.          Jury Trial Waiver.
 Guarantors
and Guaranteed Parties (by their acceptance hereof) each hereby waives the
right to a jury trial in any action, suit, proceeding or counterclaim arising
out of or related to this Guaranty, and each Guarantor further waives rights
arising under applicable statutes or otherwise to require any Guaranteed Party
to institute suit against any Borrower or to exhaust any Guaranteed Party’s
rights and remedies against any Borrower or any Collateral, each Guarantor
being bound to the payment of any and all Guaranteed Obligations to Guaranteed
Parties, whether now existing or hereafter accruing as fully as if such
indebtedness were directly owing to Guaranteed Parties by such Guarantor.

 

18.          Amendment and Restatement.

 

(a)           This Guaranty amends and restates the
Existing Guaranty.  All rights, benefits,
indebtedness, interests, liabilities and obligations of the parties to the
Existing Guaranty and the agreements, documents and instruments executed and
delivered in connection with the Existing Guaranty (collectively, the “Existing
Guaranty Documents”) are
hereby renewed, amended, restated and superseded in their entirety according to
the terms and provisions set forth in this Guaranty and the other Loan Documents.  This Guaranty does not constitute, nor shall
it result in, a waiver of, or release, discharge or forgiveness of, any amount
payable pursuant to the Existing Guaranty or any indebtedness, liabilities or
obligations of the Guarantor thereunder, all of which are renewed and continued
and are hereafter payable and to be performed in accordance with this Guaranty
and the other Loan Documents.  Neither
this

 

8

 

Guaranty
nor any of the other Loan Documents extinguishes the indebtedness or
liabilities outstanding in connection with the Existing Guaranty Documents, nor
do they constitute a novation with respect thereto.

 

(b)           All security interests, pledges, assignments, and other Liens
previously granted by each Guarantor pursuant to the Existing Guaranty
Documents are hereby renewed and continued, and all such security interests,
pledges, assignments and other Liens shall remain in full force and effect as
security for the Guaranteed Obligations.

 

[Remainder of page intentionally
left blank; signatures on following page.]

 

9

 

IN WITNESS WHEREOF, each
Guarantor has caused this Guaranty to be signed, sealed and delivered by its
duly authorized officers, on the day and year first written above.

 

	
   

  	
  SUPERIOR ESSEX INC.

  
	
   

  	
  (“Guarantor”)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SUPERIOR ESSEX HOLDING CORP.

  
	
   

  	
  (“Guarantor”)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SE COMMUNICATIONS GP INC.

  
	
   

  	
  (“Guarantor”)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ESSEX INTERNATIONAL INC.

  
	
   

  	
  (“Guarantor”)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ESSEX CANADA INC.

  
	
   

  	
  (“Guarantor”)

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
											

 

 

[Signatures continue on following page.]

 

Amended and Restated Continuing
Guaranty Agreement

 

 

	
   

  	
  ESSEX GROUP MEXICO INC.

  
	
   

  	
  (“Guarantor”)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ESSEX GROUP, INC.

  
	
   

  	
  (“Guarantor”)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ESSEX MEXICO HOLDINGS, L.L.C.

  
	
   

  	
  (“Guarantor”)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Accepted
  on
                            
        , 2008:

  
	
   

  	
   

  
	
   

  	
  BANK
  OF AMERICA, N.A.,

  
	
   

  	
  as
  Agent for the Guaranteed Parties

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
									

 

Amended and Restated Continuing
Guaranty Agreement

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