Document:

Form of Spread Account Agreement

 Exhibit 10.3.1 

 SPREAD ACCOUNT AGREEMENT 
  
 among 
  
 UPFC AUTO RECEIVABLES TRUST 2006-    , 
 as Issuing Entity,

  
                     , 
 as
Insurer, 
  
 and 
  
 DEUTSCHE BANK TRUST COMPANY AMERICAS, 
 as Trustee, as Trust Collateral Agent and as Collateral Agent 
  
 Dated as of             , 2006 
  

 ARTICLE I 
  
 DEFINITIONS 
  

					
	 Section 1.01.
	 	Definitions	  	1
	 Section 1.02.
	 	Other Definitional Provisions.	  	5
		
	ARTICLE II	  	 
		
	THE SPREAD ACCOUNT AGREEMENT COLLATERAL	  	 
			
	 Section 2.01.
	 	 Grant of Security Interest by the Trust
	  	5
	 Section 2.02.
	 	Priority	  	5
	 Section 2.03.
	 	Trust Remains Liable	  	6
	 Section 2.04.
	 	Delivery and Maintenance of Spread Account Agreement Collateral.	  	6
	 Section 2.05.
	 	Termination and Release of Rights.	  	7
	 Section 2.06.
	 	Non-Recourse Obligations of Trust	  	8
		
	ARTICLE III	  	 
		
	SPREAD ACCOUNT	  	 
			
	 Section 3.01.
	 	 Establishment of Spread Account; Initial Deposit into Spread Account; Maintenance of Spread Account.
	  	8
	 Section 3.02.
	 	Investments.	  	9
	 Section 3.03.
	 	Payments; Priority of Payments.	  	10
	 Section 3.04.
	 	General Provisions Regarding Spread Account.	  	11
	 Section 3.05.
	 	Reports by the Collateral Agent	  	12
		
	ARTICLE IV	  	 
		
	THE COLLATERAL AGENT	  	 
			
	 Section 4.01.
	 	 Appointment and Powers
	  	12
	 Section 4.02.
	 	Performance of Duties	  	13
	 Section 4.03.
	 	Limitation on Liability	  	13
	 Section 4.04.
	 	Reliance upon Documents	  	13
	 Section 4.05.
	 	Successor Collateral Agent.	  	14
	 Section 4.06.
	 	Indemnification	  	15
	 Section 4.07.
	 	Compensation and Reimbursement	  	15
	 Section 4.08.
	 	Representations and Warranties of the Collateral Agent	  	16
	 Section 4.09.
	 	Waiver of Setoffs	  	16
	 Section 4.10.
	 	Control by the Controlling Party	  	16
	 Section 4.11.
	 	Limitation of Collateral Agent Liability	  	16

  

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	 	 	ARTICLE V	  	 
			
	 	 	COVENANTS OF THE TRUST	  	 
			
	 Section 5.01.
	 	 Preservation of Spread Account Agreement Collateral
	  	17
	 Section 5.02.
	 	Notices	  	17
	 Section 5.03.
	 	Waiver of Stay or Extension Laws; Marshalling of Assets	  	17
	 Section 5.04.
	 	Noninterference, etc	  	18
	 Section 5.05.
	 	Trust Changes	  	18
			
	 	 	ARTICLE VI	  	 
			
	 	 	CONTROLLING PARTY; INTERCREDITOR PROVISIONS	  	 
			
	 Section 6.01.
	 	 Appointment of Controlling Party
	  	18
	 Section 6.02.
	 	Controlling Party’s Authority.	  	19
	 Section 6.03.
	 	Rights of Trust Secured Parties	  	19
	 Section 6.04.
	 	Degree of Care.	  	20
			
	 	 	ARTICLE VII	  	 
			
	 	 	REMEDIES UPON DEFAULT	  	 
			
	 Section 7.01.
	 	 Remedies upon a Default
	  	20
	 Section 7.02.
	 	Waiver of Default	  	20
	 Section 7.03.
	 	Restoration of Rights and Remedies	  	20
	 Section 7.04.
	 	No Remedy Exclusive	  	21
			
	 	 	ARTICLE VIII	  	 
			
	 	 	MISCELLANEOUS	  	 
			
	 Section 8.01.
	 	 Further Assurances
	  	21
	 Section 8.02.
	 	Waiver	  	21
	 Section 8.03.
	 	Amendments; Waivers	  	21
	 Section 8.04.
	 	Severability	  	22
	 Section 8.05.
	 	Nonpetition Covenant	  	22
	 Section 8.06.
	 	Notices	  	22
	 Section 8.07.
	 	Term of this Agreement	  	24
	 Section 8.08.
	 	Assignments; Third-Party Rights; Reinsurance.	  	24
	 Section 8.09.
	 	Consent of Controlling Party	  	25
	 Section 8.10.
	 	Consents to Jurisdiction	  	25
	 Section 8.11.
	 	Determination of Adverse Effect	  	25
	 Section 8.12.
	 	Headings	  	25
	 Section 8.13.
	 	TRIAL BY JURY WAIVED	  	26
	 Section 8.14.
	 	GOVERNING LAW	  	26
	 Section 8.15.
	 	Counterparts	  	26
	 Section 8.16.
	 	Limitation of Liability.	  	26

  

 ii 

 SPREAD ACCOUNT AGREEMENT 
  
 This SPREAD ACCOUNT AGREEMENT, dated as of             ,
2006 (this “Agreement”), is among UPFC AUTO RECEIVABLES TRUST 2006-            , as Trust (the “Trust”),
                    , as insurer (the “Insurer”), and DEUTSCHE BANK TRUST COMPANY AMERICAS, as trustee (in such capacity, the
“Trustee”), as trust collateral agent (in such capacity the “Trust Collateral Agent”) and as collateral agent (in such capacity, the “Collateral Agent”). 
  
 RECITALS 
  
 WHEREAS, the Trust was formed pursuant to the Trust Agreement dated as of
            , 2006 as amended and restated as of             , 2006 (as amended from time to time, the
“Trust Agreement”), between UPFC Auto Receivables Corp., as seller (the “Seller”), and Wells Fargo Delaware Trust Company, as owner trustee (the “Owner Trustee”). 
  
 WHEREAS, pursuant to a Sale and Servicing Agreement, dated as of
            , 2006, (the “Sale and Servicing Agreement”) among the Trust, the Seller, the Servicer, the Trust Collateral Agent, the Custodian, the Backup Servicer,
and the Designated Backup Subservicer, the Seller sold to the Trust all of its right, title and interest in and to the Receivables and Other Conveyed Property. 
  

WHEREAS, pursuant to the Indenture, dated as of             , 2006 (the
“Indenture”), among the Trust, the Trustee and the Trust Collateral Agent, the Trust pledged all of its right, title and interest in and to the Collateral to the Trust Collateral Agent on behalf of the Trust Secured Parties.

  
 WHEREAS, the Trust requested that the Insurer issue the Note
Policy to the Trustee to guarantee payment of the Insured Payments on each Distribution Date, in respect of the Notes. 
  
 WHEREAS, in consideration of the issuance of the Note Policy, the Trust and the Servicer have agreed that the Insurer shall have certain rights as
Controlling Party to the extent set forth in the Basic Documents, with respect to the Collateral. 
  
 In consideration of the premises, and for other good and valuable consideration, the adequacy, receipt and sufficiency of which are hereby acknowledged
the parties hereto agree as follows: 
  
 ARTICLE I

  
 DEFINITIONS 
  
 Section 1.01. Definitions. Unless otherwise defined in this
Agreement, the following terms shall have the following meanings: 
  
 “Collateral Agent” means, initially Deutsche Bank Trust Company Americas, in its capacity as collateral agent on behalf of the Trust Secured Parties, including its successors in interest, until a successor Person shall have
become the Collateral Agent pursuant to Section 4.05 and thereafter “Collateral Agent” shall mean such successor Person. 
  

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 “Collateral Agent Fee” means as designated in the fee letter between Collateral Agent
and UACC. 
  
 “Controlling Party” means the
Person designated as the Controlling Party at such time pursuant to Section 6.01. 
  
 “Cumulative Net Loss” means the positive difference between (i) the sum of (A) the aggregate Principal Balance of all Liquidated Receivables plus (B) aggregate Cram Down Losses minus
(ii) Liquidation Proceeds received with respect to the Receivables described in clause (i). 
  
 “Cumulative Net Loss Ratio” means the ratio, expressed as a percentage, computed by dividing the Cumulative Net Losses by the Original
Pool Balance. 
  
 “Default” means, (i) if
the Insurer is then the Controlling Party, any Insurance Agreement Event of Default or an Event of Default under Section 5.1 of the Indenture and (ii) if the Trustee is then the Controlling Party, any Event of Default under
Section 5.1 of the Indenture. 
  
 “Delinquency
Ratio” means, the ratio (expressed as a percentage) computed by dividing: (a) the aggregate Principal Balance of all Receivables which were Delinquent Receivables as of the close of business on the last day of the related Collection
Period by (b) the sum of the aggregate Principal Balance of all Receivables as of the close of business on the first day of the related Collection Period. 
  

“Delinquent Receivable” means a Receivable with respect to which a scheduled payment is more than sixty (60) days past due
(excluding (i) Receivables which the Servicer has repossessed the related Financed Vehicle and (ii) Receivables which have become Liquidated Receivables). 
  
 “Final Termination Date” means the date that is the later of (i) the Insurer Termination Date and
(ii) the Trustee Termination Date. 
  
 “Insured
Payments” has the meaning set forth in the Note Policy. 
  
 “Insurer Termination Date” means the date which is the latest of (i) the date of the expiration of the Note Policy and the cancellation and return thereof to the Insurer, (ii) the date on which the Insurer shall
have received payment and performance in full of all Insurer Trust Secured Obligations and (iii) the latest date on which any payment referred to above could be avoided as a preference or otherwise under the United States Bankruptcy Code or any
other similar federal or state law relating to insolvency, bankruptcy, rehabilitation, liquidation or reorganization, as specified in an Opinion of Counsel delivered to the Collateral Agent, the Insurer and the Trustee. 
  
 “Trust” means UPFC Auto Receivables Trust
2006-    . 
  
 “Trust Secured
Obligations” means the Trust Secured Obligations under the Indenture. 
  

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 “Trust Secured Parties” means the Trust Secured Parties under the Indenture. 

 
 “Level 1 Cumulative Net Loss Test Failure” means, for any
Distribution Date specified below, the Cumulative Net Loss Ratio for the related Collection Period is greater than the percentage set forth opposite such Distribution Date in Schedule A hereto. 
  
 “Level 1 Delinquency Test Failure” means, for any
Distribution Date, the arithmetic average of the monthly Delinquency Ratios for the three immediately preceding Collection Periods is greater than the percentage set forth opposite such Distribution Date in Schedule A hereto. 
  
 “Level 1 Trigger Event” means the occurrence of (i) a
Level 1 Cumulative Net Loss Test Failure or (ii) a Level 1 Delinquency Test Failure. 
  
 “Level 2 Cumulative Net Loss Test Failure” means, for any Distribution Date specified below, the Cumulative Net Loss Ratio for the related Collection Period is greater than the percentage set forth
opposite such Distribution Date in Schedule A hereto. 
  
 “Level 2 Delinquency Test Failure” means, for any Distribution Date, the arithmetic average of the monthly Delinquency Ratios for the three immediately preceding Collection Periods is greater than the percentage set forth
opposite such Distribution Date in Schedule A hereto. 
  
 “Level 2 Trigger Event” means (i) the occurrence of a Level 2 Cumulative Net Loss Test Failure, (ii) the occurrence of a Level 2 Delinquency Test Failure, (iii) UPFC’s Consolidated Total Adjusted Equity
as of the end of any fiscal quarter shall be less than (a) $            , plus (b) 50% of future positive earnings (after
            , 2006) less (c) any share repurchase amounts, (iv) UPFC’s Leverage Ratio as of the end of any fiscal quarter exceeds 10.0 or (v) the Cash Balance as
of the end of any fiscal quarter is less than $            . 
  
 “Level 3 Cumulative Net Loss Test Failure” means, for any Distribution Date specified below, the Cumulative Net Loss Ratio for the
related Collection Period is greater than the percentage set forth opposite such Distribution Date in Schedule A hereto. 
  
 “Level 3 Delinquency Test Failure” means, for any Distribution Date, the arithmetic average of the monthly Delinquency Ratios for the
three immediately preceding Collection Periods is greater than the percentage set forth opposite such Distribution Date in Schedule A hereto. 
  
 “Level 3 Trigger Event” means the occurrence of (i) a Level 3 Cumulative Net Loss Test Failure or (ii) a Level 3 Delinquency
Test Failure. 
  
 “Liquidation Proceeds” means,
with respect to a Liquidated Receivable, all amounts realized with respect to such Receivable including (1) proceeds from the disposition of the underlying financed vehicles; (2) any related insurance proceeds; (3) other monies
received from the obligor that are allocable to principal and interest due under the automobile loan, and (4) with respect to a Sold Receivable, the related Sale Amount. 
  

 3 

 “Non-Controlling Party” means, at any time, the Trust Secured Party that is not the
Controlling Party at such time. 
  
 “Original Pool
Balance” means the Pool Balance as of the Cutoff Date. 
  
 “Outstanding Pool Balance” means the Pool Balance as of the end of the related Collection Period. 
  
 “Requisite Amount” will equal the Spread Account Initial Deposit on the Closing Date, and thereafter, on each Distribution Date, the
Requisite Amount shall be equal to 2.0% of the Original Pool Balance, provided, however, that (i) on each Distribution Date upon which a Level 1 Trigger Event has occurred and is continuing, and upon each Distribution Date thereafter (unless no
Level 1 Trigger Event has occurred for three consecutive months) the Requisite Amount shall be equal to the greater of (x) 8.0% of the Outstanding Pool Balance or (y) 5.0% of the Original Pool Balance; and (ii) on each Distribution
Date upon which an Insurance Agreement Event of Default has occurred and upon each Distribution Date thereafter, the Requisite Amount shall be equal to 100% of the Outstanding Pool Balance. 
  
 “Risk in Force Amount” has the meaning set forth in the
Premium Letter. 
  
 “Security Interests” means
the security interests and Liens in the Spread Account Agreement Collateral granted pursuant to Section 2.01. 
  
 “Seller” means UPFC Auto Receivables Corp. 
  
 “Spread Account” means the account designated as such, established and maintained pursuant to Article Three. 
  
 “Spread Account Agreement Collateral” has the meaning set
forth in Section 2.01. 
  
 “Spread Account Claim
Amount” has the meaning set forth in Section 1.1 of the Sale and Servicing Agreement. 
  
 “Trigger Event” means a Level 1 Trigger Event, a Level 2 Trigger Event or a Level 3 Trigger Event. 
  
 “Trustee Termination Date” means the date which is the
latest of the date on which (i) the Trustee shall have received, as Trustee for the holders of the Notes, payment and performance in full of all Trustee Trust Secured Obligations and (ii) all payments in respect of the Notes shall have
been made and the Indenture shall have been satisfied and discharged pursuant to the terms of Article IV of the Indenture. 
  
 “UACC” means United Auto Credit Corporation. 
  
 “Uniform Commercial Code” or “UCC” means the Uniform Commercial Code in effect in the relevant jurisdiction, as the same may be
amended from time to time. 
  

 4 

 Section 1.02. Other Definitional Provisions. 
  
 (a) Capitalized terms used but not otherwise defined herein shall have the
meanings set forth in the Sale and Servicing Agreement or the Indenture, as the case may be. 
  
 (b) The terms “hereof,” “herein” or “hereunder,” unless otherwise modified by more specific reference, shall refer to this Agreement in its entirety. Unless otherwise indicated in
context, the terms “Article,” “Section,” “Appendix,” “Exhibit” or “Annex” shall refer to an Article or Section of, or Appendix, Exhibit or Annex to, this Agreement. The definition of a term
shall include the singular, the plural, the past, the present, the future, the active and the passive forms of such term. 
  
 ARTICLE II 
  
 THE SPREAD ACCOUNT AGREEMENT COLLATERAL 
  
 Section 2.01. Grant of Security Interest by the Trust. In order to secure the performance of Trust Secured Obligations, to the extent provided
herein, the Trust hereby pledges, assigns, grants, transfers and conveys to the Collateral Agent, on behalf of and for the benefit of the Trust Secured Parties, a lien on and security interest in (which lien and security interest is intended to be
prior to all other Liens), all of its right, title and interest in and to the following (all being collectively referred to herein as the “Spread Account Agreement Collateral” and constituting Spread Account Agreement Collateral
hereunder): 
  
 (a) the Spread Account established pursuant to
Section 3.01 hereof, and each other account owned by the Trust and maintained by the Collateral Agent and any funds or investments deposited therein (including, without limitation, the Spread Account Initial Deposit related thereto and all
additional monies, checks, securities, investments and other documents from time to time held in or evidencing any such accounts); 
  
 (b) all of the Trust’s right, title and interest in and to investments made with proceeds of the property described in clause (a) above, or made
with amounts on deposit in the Spread Account; and 
  
 (c) all
distributions, revenues, products, substitutions, benefits, profits and proceeds, in whatever form, of any of the foregoing whether now owned or hereafter acquired. 
  
 Section 2.02. Priority. The Trust intends the security interests granted hereunder in favor of the Trust Secured
Parties to be prior to all other Liens in respect of the Spread Account Agreement Collateral, and the Trust shall take all actions necessary to obtain and maintain, in favor of the Collateral Agent, for the benefit of the Trust Secured Parties, a
first lien on and a first priority, perfected security interest in the Spread Account Agreement Collateral including, without limitation, the filing of a UCC-1 financing statement relating to the Spread Account Agreement Collateral. Subject to the
provisions hereof specifying the rights and powers of the Collateral Agent at the written direction of the Controlling Party from time to time to control certain specified matters relating to the Spread Account Agreement Collateral, each Trust
Secured Party shall have all of the rights, remedies and recourse with respect to the Spread Account Agreement Collateral afforded a Secured Party under the Uniform Commercial Code, and all other applicable law in addition to, and not in limitation
of, the other rights, remedies and 
  

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 recourse granted to such Trust Secured Parties by this Agreement or any other law relating to the creation and perfection
of liens on, and security interests in, the Spread Account Agreement Collateral. 
  
 Section 2.03. Trust Remains Liable. The Security Interests are granted as security only and shall not (i) transfer or in any way affect or modify, or relieve either the Trust from, any obligation to
perform or satisfy, any term, covenant, condition or agreement to be performed or satisfied by the Trust under or in connection with this Agreement, the Insurance Agreement or any other Basic Documents to which it is a party or (ii) impose any
obligation on any of the Trust Secured Parties or the Collateral Agent to perform or observe any such term, covenant, condition or agreement or impose any liability on any of the Trust Secured Parties or the Collateral Agent for any act or omission
on its part relative thereto or for any breach of any representation or warranty on its part contained therein or made in connection therewith, except, in each case, to the extent provided herein and in the other Basic Documents. 
  
 Section 2.04. Delivery and Maintenance of Spread Account Agreement
Collateral. 
  
 (a) The Collateral Agent agrees to maintain
the Spread Account Agreement Collateral received by it (or evidence thereof, in the case of book-entry securities in the name of the Collateral Agent) and all records and documents relating thereto at the office of the Collateral Agent specified in
Section 8.06 or such other address as may be approved by the Controlling Party. The Collateral Agent shall keep all Spread Account Agreement Collateral and related documentation in its possession separate and apart from all other property that
it is holding in its possession and from its own general assets and shall maintain accurate records pertaining to the Eligible Investments and Spread Account included in the Spread Account Agreement Collateral in such a manner as shall enable the
Collateral Agent and the Trust Secured Parties to verify the accuracy of such record-keeping. The Collateral Agent’s books and records shall at all times show that the Spread Account Agreement Collateral is held by the Collateral Agent as agent
of the Trust Secured Parties and is not the property of the Collateral Agent. The Collateral Agent will promptly report to each Trust Secured Party and the Trust any failure on its part to hold the Spread Account Agreement Collateral as provided in
this Section 2.04(a) and will promptly take appropriate action to remedy any such failure. 
  
 (b) The Collateral Agent shall permit each of the Trust Secured Parties, or their respective duly authorized representatives, attorneys, auditors or
designees, to inspect the Spread Account Agreement Collateral in the possession of or otherwise under the control of the Collateral Agent pursuant hereto at such reasonable times during normal business hours as any such Trust Secured Party may
reasonably request upon not less than one Business Day’s prior written notice. The costs and expenses associated with any such inspection will be paid by the party making such inspection. 
  
 (c) All Spread Account Agreement Collateral shall be transferred to the
Collateral Agent on behalf of the Trust Secured Party in a manner consistent with the definition of “Delivery” set forth in the Sale and Servicing Agreement. 
  
 (d) Notwithstanding anything to the contrary herein, the Collateral Agent: (i) is and will be acting on behalf of the
Trust Secured Parties as a securities intermediary under 
  

 6 

 Article Eight of the UCC and acknowledges that it holds the Spread Account Agreement Collateral for the benefit of
the Trust Secured Parties for purposes of Section 9-313 of the UCC; (ii) shall establish and maintain the Spread Account for the benefit of the Trust Secured Parties as a holder of a security interest in the Spread Account Agreement
Collateral and the Spread Account; (iii) shall treat all of the assets in the Spread Account (other than cash) as financial assets under Article Eight of the UCC; (iv) shall not hold, or exercise control (within the meaning of
Article Eight or Nine of the UCC) over, the Spread Account Agreement Collateral and/or the Spread Account for the benefit of any person or entity other than the Trust Secured Parties; (v) has received notice of the Trust Secured
Parties’ interest in the assets contained and/or to be contained in the Spread Account; and (vi) shall take instructions only from the Trust Secured Party constituting the Controlling Party hereunder (and shall comply with entitlement
orders originated by such Trust Secured Party without any consent of and notwithstanding any alternate direction of the Trust or other party) with respect to the Spread Account and/or the Spread Account Agreement Collateral, including, without
limitation, all instructions with respect to the acquisition, transfer and disposition of assets in the Spread Account and the proceeds thereof. In accordance with the choice of law governing this Agreement set forth in Section 8.14 herein, for
purposes of Article Eight of the UCC the jurisdiction of the Collateral Agent is deemed to be New York. 
  
 Section 2.05. Termination and Release of Rights. 
  
 (a) On the Insurer Termination Date, the rights, remedies, powers, duties, authority and obligations conferred upon the Insurer pursuant to this Agreement
in respect of the Spread Account Agreement Collateral shall terminate and be of no further force and effect and all rights, remedies, powers, duties, authority and obligations of the Insurer with respect to such Spread Account Agreement Collateral
shall be automatically released; provided that any indemnity provided to or by the Insurer herein shall survive such Insurer Termination Date. If the Insurer is acting as Controlling Party on the related Insurer Termination Date, the Insurer agrees,
at the expense of the Trust, to execute and deliver such instruments as the successor Controlling Party may reasonably request to effectuate such release, and any such instruments so executed and delivered shall be fully binding on the Insurer and
any Person claiming by, through or under the Insurer. 
  
 (b) On
the Trustee Termination Date, the rights, remedies, powers, duties, authority and obligations, if any, conferred upon the Trustee pursuant to this Agreement in respect of the Spread Account Agreement Collateral shall terminate and be of no further
force and effect and all such rights, remedies, powers, duties, authority and obligations of the Trustee with respect to such Spread Account Agreement Collateral shall be automatically released; provided that any indemnity provided to the Trustee
herein shall survive such Trustee Termination Date. If the Trustee is acting as Controlling Party on the related Trustee Termination Date, the Trustee agrees, at the expense of the Trust, to execute and deliver such instruments as the Trust may
reasonably request to effectuate such release, and any such instruments so executed and delivered shall be fully binding on the Trustee. 
  
 (c) On the Final Termination Date, the rights, remedies, powers, duties, authority and obligations conferred upon the Collateral Agent and each Trust
Secured Party pursuant to this Agreement shall terminate and be of no further force and effect and all rights, 
  

 7 

 remedies, powers, duties, authority and obligations of the Collateral Agent and each Trust Secured Party with respect to
the Spread Account Agreement Collateral shall be automatically released. On the Final Termination Date, the Collateral Agent agrees, and each Trust Secured Party agrees, at the expense of the Trust, to execute such instruments of release, in
recordable form if necessary, in favor of the Trust as the Trust may reasonably request, to deliver any Spread Account Agreement Collateral in its possession to the Trust, and to otherwise release the lien of this Agreement and release and deliver
to the Trust the Spread Account Agreement Collateral. 
  
 Section 2.06. Non-Recourse Obligations of Trust. Notwithstanding anything herein or in the other Basic Documents to the contrary, the parties hereto agree that the obligations of the Trust hereunder shall be recourse only to the
extent of amounts released to the Trust pursuant to Section 3.03(b)(ii) and retained by the Trust in accordance with the next sentence. The Trust agrees that it shall not declare or make any payment to the Seller or UACC except in accordance
with the Basic Documents. Nothing contained herein shall be deemed to limit the rights of the Noteholders under any other Basic Document. 
  
 ARTICLE III 
  
 SPREAD ACCOUNT 
  
 Section 3.01. Establishment of Spread Account; Initial Deposit into Spread Account; Maintenance of Spread Account. 
  

(a) On or prior to the Closing Date, the Collateral Agent shall establish, at its office or at another depository institution or trust company an
Eligible Deposit Account, designated, “Spread Account—Deutsche Bank Trust Company Americas, as Collateral Agent for XL Capital Assurance Inc. and Deutsche Bank Trust Company Americas, as Trustee and Trust Collateral Agent Re: UPFC Auto
Receivables Trust 2006-    , Class A Asset-Backed Notes Series 2006-    ” (the “Spread Account”). The Spread Account shall be maintained by the Collateral Agent at all
times separate and apart from any other account of UACC, the Seller, the Servicer or the Trust. The Spread Account shall be maintained at the same depository institution (which depository institution may be changed from time to time in accordance
with this Agreement). If the Spread Account ceases to be an Eligible Deposit Account, the Collateral Agent shall notify the Controlling Party of such fact and shall establish within five Business Days of such determination, in accordance with
Section 3.04(a), a successor Spread Account thereto, which shall be an Eligible Deposit Account, at another depository institution acceptable to the Controlling Party. 
  
 (b) No withdrawals may be made of funds in the Spread Account except as provided in Section 3.03. Except as
specifically provided in this Agreement, funds in the Spread Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Spread Account and all investments made with such moneys shall be held by the
Collateral Agent as part of the Spread Account Agreement Collateral. 
  

 8 

 (c) On the Closing Date, Trust shall provide or cause to be provided to the Collateral Agent for deposit
into the Spread Account an amount equal to the Spread Account Initial Deposit. 
  
 (d) On each Distribution Date, after giving effect to all payments to be made on the related Distribution Date, the Collateral Agent shall, based solely on the information contained in the Preliminary Servicer’s
Certificate delivered with respect to the Determination Date, cause to be maintained in the Spread Account an amount equal to the Requisite Amount in accordance with Section 5.07 of the Sale and Servicing Agreement. 
  
 Section 3.02. Investments. 
  
 (a) Funds which may at any time be held in the Spread Account shall be
invested and reinvested by the Collateral Agent, at the written direction (which may include, subject to the provisions hereof, general standing instructions) of the Trust (unless a Default shall have occurred and be continuing, in which case at the
written direction of the Controlling Party if it so elects) or its designee received by the Collateral Agent by 1:00 p.m. New York City time, on the Business Day prior to the date on which such investment shall be made, in one or more
Eligible Investments in the manner specified in Section 3.02(b) and (c) herein. If no written direction with respect to any portion of such Spread Account is received by the Collateral Agent, the Collateral Agent shall invest such funds
overnight in money market mutual funds described in paragraph (d) of the definition of the term “Eligible Investments,” provided that the Collateral Agent shall not be liable for any loss or absence of income resulting from such
investments described herein. 
  
 (b) Each investment made
pursuant to this Section on any date shall mature not later than the Business Day immediately preceding the Distribution Date next succeeding the day such investment is made or payable on demand, provided that any investment of funds in the Spread
Account maintained with the Collateral Agent in any investment as to which the Collateral Agent is the obligor, if otherwise qualified as an Eligible Investment may mature on the Distribution Date next succeeding the date of such investment.

  
 (c) Subject to the other provisions hereof, the Collateral
Agent shall have sole control over each such investment and the income thereon, and any certificate or other instrument evidencing any such investment, if any, shall be delivered directly to the Collateral Agent or its agent, together with each
document of transfer, if any, necessary to transfer title to such investment to the Collateral Agent in a manner which complies with Section 2.04 hereof and the requirements of the definition of “Eligible Investments.” 
  
 (d) If amounts on deposit in the Spread Account are at any time invested in
an Eligible Investment payable on demand, the Collateral Agent shall (i) consistent with any notice required to be given thereunder, demand that payment thereon be made on the last day such Eligible Investment is permitted to mature under the
provisions hereof and (ii) demand payment of all amounts due thereunder promptly upon receipt of written notice from the Controlling Party to the effect that such investment does not constitute an Eligible Investment. 
  

 9 

 (e) All moneys on deposit in the Spread Account, together with any deposits or securities in which such
moneys may be invested or reinvested, and any gains from such investments, shall constitute Spread Account Agreement Collateral hereunder subject to the Security Interests of the Trust Secured Parties. 
  
 (f) Subject to Section 4.03 hereof, the Collateral Agent shall not be
liable by reason of any insufficiency in amounts on deposit in the Spread Account resulting from any loss on any Eligible Investment included therein except for losses attributable to the failure of the relevant Deutsche Bank entity, in its
commercial capacity, to make payments on Eligible Investments for which it is obligated. All income or loss on investments of funds in the Spread Account shall be reported by UACC as taxable income or loss. 
  
 Section 3.03. Payments; Priority of Payments. 
  
 (a) On or before the second Business Day prior to each
Distribution Date, the Collateral Agent will make the following determinations on the basis of information (including, without limitation, the amount of any Spread Account Claim Amount) received pursuant to Article IV of the Sale and Servicing
Agreement from the Servicer; provided, however, that if the Collateral Agent receives written notice from the Insurer, the Trustee, the Trust or the Servicer of the occurrence of an Insurance Agreement Event of Default, such notice shall be
determinative for the purposes of determining the Requisite Amount: 
  
 (i) determine the amounts to be on deposit in the Spread Account on such Distribution Date which will be available to satisfy any Spread Account Claim Amount; and 
  
 (ii) determine (A) the amounts, if any, to be paid from
the Spread Account with respect to the Spread Account Claim Amount and (B) whether, following payment from the Spread Account to the Trust Collateral Agent for deposit into the Collection Account, a Spread Account Claim Amount will continue to
exist; 
  
 On such Distribution Date, the Collateral Agent shall
deliver a certificate to the Trust Collateral Agent and the Insurer with respect to any Deficiency Notice, stating the amount, if any, to be distributed to the Trust Collateral Agent on that Distribution Date in respect of such Spread Account
Claim Amount. 
  
 (b) On each Distribution Date,
the Collateral Agent shall make the following payments from the Spread Account (to the extent of funds available in the Spread Account) in the following order of priority: 
  
 (i) if the Trust Collateral Agent has delivered a Deficiency Notice and if there exists a Spread Account
Claim Amount, to the Trust Collateral Agent for deposit in the Collection Account the amount of such Spread Account Claim Amount; and 
  

 10 

 (ii) any funds in the Spread Account in excess of the Requisite Amount, after making the
withdrawals therefrom required by clause (i) of this Section 3.03(b) (to the extent of funds available in excess of the Requisite Amount) and any funds remaining in the Spread Account as of the Distribution Date immediately following the
Final Termination Date will be applied by the Collateral Agent in the following order of priority: 
  
 (A) to the payment of any expenses payable pursuant to Section 4.5 of the Sale and Servicing Agreement to the extent not paid by the
Servicer; 
  
 (B) to the Trust Collateral Agent
for payment to the Trustee, the Trust Collateral Agent, the Backup Servicer, the Custodian, the Collateral Agent and the Designated Backup Subservicer or to any replacement servicer any accrued and unpaid replacement servicer fees, transition costs
or additional compensation to the extent not paid by UACC or pursuant to the Sale and Servicing Agreement; 
  
 (C) to the Trust Collateral Agent for payment to the Insurer, any amounts due and owing to the Insurer that were not paid under clauses
(v) and (viii) of Section 5.7(b) of the Sale and Servicing Agreement; 
  
 (D) to the Backup Servicer, any indemnification amounts payable by the Servicer to the Backup Servicer to the extent not paid by the
Servicer; 
  
 (E) to the Owner Trustee to the
extent any amounts due and owing to the Owner Trustee under the Transaction Documents were not otherwise paid; and 
  
 (F) to the holder(s) of the Certificates, any remaining funds in the Spread Account in excess of the Requisite Amount. 
  
 Section 3.04. General Provisions Regarding Spread Account.

  
 (a) Promptly upon the establishment (initially or upon
any relocation) of the Spread Account hereunder, the Collateral Agent shall advise the Trust and each Trust Secured Party in writing of the name and address of the depository institution or trust company where the Spread Account has been established
(if not at Deutsche Bank Trust Company Americas or any successor Collateral Agent in its commercial banking capacity), the name of the officer of the depository institution who is responsible for overseeing the Spread Account, the account number and
the individuals whose names appear on the signature cards for the Spread Account. The Trust shall cause each such depository institution or trust company to execute a written agreement, in form and substance reasonably satisfactory to the
Controlling Party, waiving, and the Collateral Agent by its execution of this Agreement hereby waives (except to the extent expressly provided herein), in each case to the extent permitted under applicable law, (i) any banker’s or other
statutory or similar Lien, and (ii) any right of set-off or other similar right under applicable law with respect to the Spread Account and agreeing, and the Collateral Agent 
  

 11 

 by its execution of this Agreement hereby agrees to notify the Trust and each Trust Secured Party of any charge or claim
against or with respect to such Spread Account. The Collateral Agent shall give the Trust and each Trust Secured Party at least ten Business Days’ prior written notice of any change in the location of the Spread Account or in any related
account information. Anything herein to the contrary notwithstanding, unless otherwise consented to by the Controlling Party in writing, the Collateral Agent shall have no right to change the location of the Spread Account 
  
 (b) Upon the written request of the Controlling Party or the Trust, the
Collateral Agent shall cause, at the expense of the Trust, the depository institution at which the Spread Account is located to forward to the requesting party copies of all monthly account statements for the Spread Account. 
  
 (c) No passbook, certificate of deposit or other similar instrument
evidencing the Spread Account shall be issued, and all contracts, receipts and other papers, if any, governing or evidencing the Spread Account shall be held by the Collateral Agent. 
  
 Section 3.05. Reports by the Collateral Agent. The Collateral Agent shall report to the Trust, the Insurer, the
Trustee (unless the Trustee is the same party as the Collateral Agent), the Trust Collateral Agent (unless the Trust Collateral Agent is the same party as the Collateral Agent) and the Servicer, on a monthly basis no later than each Distribution
Date, the amount on deposit in the Spread Account and the identity of the investments included therein as of the last day of the related Collection Period, and shall provide accountings of deposits into and withdrawals from the Spread Account, and
of the investments made therein, upon the request of the Trust, the Insurer or the Servicer. 
  
 ARTICLE IV 
  
 THE
COLLATERAL AGENT 
  
 Section 4.01. Appointment and
Powers. Subject to the terms and conditions hereof, each of the Trust Secured Parties hereby appoints Deutsche Bank Trust Company Americas as the Collateral Agent with respect to the Spread Account Agreement Collateral, and Deutsche Bank Trust
Company Americas hereby accepts such appointment and agrees to act as Collateral Agent with respect to the Spread Account Agreement Collateral, for the Trust Secured Parties, to maintain custody and possession of such Spread Account Agreement
Collateral (except as otherwise provided hereunder) and to perform the other duties of the Collateral Agent in accordance with the provisions of this Agreement. Each Trust Secured Party hereby authorizes the Collateral Agent to take such action on
its behalf, and to exercise such rights, remedies, powers and privileges hereunder, as the Controlling Party may direct and as are specifically authorized to be exercised by the Collateral Agent by the terms hereof, together with such actions,
rights, remedies, powers and privileges as are reasonably incidental thereto. The Collateral Agent shall act (and shall be completely protected in so acting) upon and in compliance with the written instructions of the Controlling Party delivered
pursuant to this Agreement promptly following receipt of such written instructions; provided that the Collateral Agent shall not act in accordance with any instructions (i) which are not authorized by, or in violation of the provisions of, this
Agreement, (ii) which are in violation of any applicable law, 
  

 12 

 rule or regulation or (iii) for which the Collateral Agent has not received reasonable indemnity. Receipt of such
instructions shall not be a condition to the exercise by the Collateral Agent of its express duties hereunder, except where this Agreement provides that the Collateral Agent is permitted to act only following and in accordance with such
instructions. 
  
 Section 4.02. Performance of Duties.
The Collateral Agent shall have no duties or responsibilities except those expressly set forth in this Agreement and the other Basic Documents to which the Collateral Agent is a party or as directed by the Controlling Party in accordance with this
Agreement. The Collateral Agent shall not be required to take any discretionary actions hereunder except at the written direction and with indemnification satisfactory to it from the Controlling Party. 
  
 Section 4.03. Limitation on Liability. Neither the Collateral
Agent nor any of its directors, officers or employees shall be liable for any action taken or omitted to be taken by it or them hereunder, or in connection herewith, except that the Collateral Agent shall be liable for its negligence, bad faith or
willful misconduct; nor shall the Collateral Agent be responsible for the validity, effectiveness, value, sufficiency or enforceability against the Trust of this Agreement or any of the Spread Account Agreement Collateral (or any part thereof).
Notwithstanding any term or provision of this Agreement, the Collateral Agent shall incur no liability to the Trust or the Trust Secured Parties for any action taken or omitted by the Collateral Agent in connection with the Spread Account Agreement
Collateral, except for the negligence or willful misconduct on the part of the Collateral Agent, and, further, shall incur no liability to the Trust Secured Parties except for negligence or willful misconduct in carrying out its duties to the Trust
Secured Parties. Subject to Section 4.04 hereof, the Collateral Agent shall be completely protected and shall incur no liability to any such party in relying upon the accuracy, acting in reliance upon the contents, and assuming the genuineness
of any notice, demand, certificate, signature, instrument or other document reasonably believed by the Collateral Agent to be genuine and to have been duly executed by the appropriate signatory, and (absent actual knowledge to the contrary) the
Collateral Agent shall not be required to make any independent investigation with respect thereto. The Collateral Agent shall at all times be free independently to establish to its reasonable satisfaction, but shall have no duty to independently
verify, the existence or nonexistence of facts that are a condition to the exercise or enforcement of any right or remedy hereunder or under any of the Basic Documents. The Collateral Agent may consult with counsel selected by it with due care, and
shall not be liable for any action taken or omitted to be taken by it hereunder in good faith and in accordance with the advice of such counsel. The Collateral Agent shall not be under any obligation to exercise any of the remedial rights or powers
vested in it by this Agreement or to follow any direction from the Controlling Party unless it shall have received reasonable security or indemnity satisfactory to the Collateral Agent against the costs, expenses and liabilities which might be
incurred by it. 
  
 Section 4.04. Reliance upon
Documents. In the absence of bad faith or negligence on its part, the Collateral Agent shall be entitled to rely on any communication, instrument, paper or other document reasonably believed by it to be genuine and correct and to have been
signed or sent by the proper Person or Persons and shall have no liability in acting, or omitting to act, where such action or omission to act is in reasonable reliance upon any statement or opinion contained in any such document or instrument.

  

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 Section 4.05. Successor Collateral Agent. 
  
 (a) Any Person into which the Collateral Agent may be converted or merged,
or with which it may be consolidated, or to which it may sell or transfer its trust business and assets as a whole, or substantially as a whole, or any Person resulting from any such conversion, merger, consolidation, sale or transfer to which the
Collateral Agent is a party, shall (provided it is otherwise qualified to serve as the Collateral Agent hereunder and is acceptable to the Insurer) be and become a successor Collateral Agent hereunder and be vested with all of the title to and
interest in the Spread Account Agreement Collateral and all of the trusts, powers, discretions, immunities, privileges and other matters as was its predecessor without the execution or filing of any instrument or any further act, deed or conveyance
on the part of any of the parties hereto, anything herein to the contrary notwithstanding, except to the extent, if any, that any such action is necessary to perfect, or continue the perfection of, the security interest of the Trust Secured Parties
in the Spread Account Agreement Collateral. 
  
 (b) The Collateral
Agent and any successor Collateral Agent may resign only (i) upon a determination that by reason of a change in legal requirements the performance of its duties under this Agreement would cause it to be in violation of such legal requirements
in a manner which would result in a material adverse effect on the Collateral Agent as evidenced by an Opinion of Counsel delivered to the Insurer, and the Controlling Party does not elect to waive the Collateral Agent’s obligation to perform
those duties which render it legally unable to act or elect to delegate those duties to another Person, or (ii) with the prior written consent of the Controlling Party. The Collateral Agent shall give not less than 45 days’ prior written
notice of any such permitted resignation by registered or certified mail to the other Trust Secured Party and the Trust; provided, that such resignation shall take effect only upon the date which is the latest of (A) the effective date of the
appointment of a successor Collateral Agent acceptable to the Insurer (provided that an Insurer Default has not occurred and is continuing) and the acceptance in writing by such successor Collateral Agent of such appointment and of its obligation to
perform its duties hereunder in accordance with the provisions hereof, (B) delivery of the Collateral to such successor to be held in accordance with the procedures specified in Article Two, and (C) receipt by the Controlling Party of
an Opinion of Counsel to the effect described in Section 5.05 hereof. Notwithstanding the preceding sentence, if by the contemplated date of resignation specified in the written notice of resignation delivered as described above no successor
Collateral Agent or temporary successor Collateral Agent has been appointed Collateral Agent or becomes the Collateral Agent pursuant to Section 4.05(d), the resigning Collateral Agent may petition a court of competent jurisdiction in New York,
New York for the appointment of a successor acceptable to the Insurer (provided that an Insurer Default has not occurred and is continuing). Notwithstanding anything herein to the contrary, if the Trustee, the Trust Collateral Agent and Collateral
Agent are the same party and the Trustee or the Trust Collateral Agent resigns under the Indenture, the Collateral Agent may resign in accordance with the procedures for resignation of the Trustee and the Trust Collateral Agent under the Indenture.

  
 (c) The Collateral Agent may be removed by the Controlling
Party at any time, with or without cause, by an instrument or concurrent instruments in writing delivered to the Collateral Agent, the other Trust Secured Party and the Trust. A temporary successor may be removed at any time to allow a successor
Collateral Agent to be appointed pursuant to 
  

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 Section 4.05(d). Any removal pursuant to the provisions of this subsection (c) shall take effect only upon the
date which is the latest of (i) the effective date of the appointment of a successor Collateral Agent acceptable to the Insurer (provided that an Insurer Default has not occurred and is continuing) and the acceptance in writing by such
successor Collateral Agent of such appointment and of its obligation to perform its duties hereunder in accordance with the provisions hereof, (ii) delivery of the Spread Account Agreement Collateral to such successor to be held in accordance
with the procedures specified in Article Two and (iii) receipt by the Controlling Party of an Opinion of Counsel to the effect described in Section 5.05 hereof. 
  
 (d) The Controlling Party shall have the sole right to appoint each successor Collateral Agent. Every temporary or permanent
successor Collateral Agent appointed hereunder shall, at the expense of the Trust, execute, acknowledge and deliver to its predecessor and to each Trust Secured Party and the Trust an instrument in writing accepting such appointment hereunder and
the relevant predecessor shall execute, acknowledge and deliver such other documents and instruments as will effectuate the delivery of all Spread Account Agreement Collateral to the successor Collateral Agent to be held in accordance with the
procedures specified in Article Two, whereupon such successor, without any further act, deed or conveyance, shall become fully vested with all the estates, properties, rights, powers, duties and obligations of its predecessor. Such predecessor
shall, nevertheless, on the written request of either Trust Secured Party or the Trust, execute and deliver an instrument transferring to such successor all the estates, properties, rights and powers of such predecessor hereunder. In the event that
any instrument in writing from the Trust or a Trust Secured Party is reasonably required by a successor Collateral Agent to more fully and certainly vest in such successor the estates, properties, rights, powers, duties and obligations vested or
intended to be vested hereunder in the Collateral Agent, any and all such written instruments shall, at the request of the temporary or permanent successor Collateral Agent, be forthwith executed, acknowledged and delivered by the Trust. The
designation of any successor Collateral Agent and the instrument or instruments removing any Collateral Agent and appointing a successor hereunder, together with all other instruments provided for herein, shall be maintained with the records
relating to the Spread Account Agreement Collateral and, to the extent required by applicable law, filed or recorded by the successor Collateral Agent in each place where such filing or recording is necessary to effect the transfer of the Spread
Account Agreement Collateral to the successor Collateral Agent or to protect or continue the perfection of the security interests granted hereunder. 
  
 Section 4.06. Indemnification. The Servicer shall indemnify the Collateral Agent, its directors, officers, employees and agents for, and hold
the Collateral Agent, its directors, officers, employees and agents harmless against, any loss, liability or expense (including the fees and expenses of counsel and the costs and expenses of defending against any claim of liability) arising out of
or in connection with the Collateral Agent’s acting as Collateral Agent hereunder, except such loss, liability or expense as shall result from the negligence, bad faith or willful misconduct of the Collateral Agent. The obligation of the
Servicer under this Section 4.06 shall survive the termination of this Agreement and the resignation or removal of the Collateral Agent or the Servicer. 
  
 Section 4.07. Compensation and Reimbursement. The Servicer agrees for the benefit of the Trust Secured Parties to pay to the Collateral Agent,
the Collateral Agent Fee for all 
  

 15 

 services rendered by it hereunder (which compensation shall not be limited by any provision of law in regard to the
compensation of a collateral trustee) and to reimburse the Collateral Agent for any reasonable and out of pocket expenses (including reasonable legal fees and expenses but excluding any expenses resulting from the gross negligence, bad faith, or
willful misconduct of the Collateral Agent) incurred in connection with the duties contemplated herein. 
  
 Section 4.08. Representations and Warranties of the Collateral Agent. The Collateral Agent represents and warrants to the Trust and to each
Trust Secured Party as follows: 
  
 (a) Due Organization.
The Collateral Agent is a New York banking corporation, duly organized, validly existing and in good standing under the laws of the United States and is duly authorized and licensed under applicable law to conduct its business as presently
conducted. 
  
 (b) Corporate Power. The Collateral
Agent has all requisite right, power and authority to execute and deliver this Agreement and to perform all of its duties as Collateral Agent hereunder. 
  
 (c) Due Authorization. The execution and delivery by the Collateral Agent of this Agreement and the other Basic Documents to which it is a
party, and the performance by the Collateral Agent of its duties hereunder and thereunder, have been duly authorized by all necessary corporate proceedings and no further approvals or filings, including any governmental approvals, are required for
the valid execution and delivery by the Collateral Agent, or the performance by the Collateral Agent, of this Agreement and such other Basic Documents. 
  
 (d) Valid and Binding Agreement. The Collateral Agent has duly executed and delivered this Agreement and each other Basic Document to which
it is a party, and each of this Agreement and each such other Basic Document constitutes the legal, valid and binding obligation of the Collateral Agent, enforceable against the Collateral Agent in accordance with its terms, except as (i) such
enforceability may be limited by bankruptcy, insolvency, reorganization and similar laws relating to or affecting the enforcement of creditors’ rights generally and (ii) the availability of equitable remedies may be limited by equitable
principles of general applicability. 
  
 Section 4.09.
Waiver of Setoffs. The Collateral Agent hereby expressly waives any and all rights of set off that the Collateral Agent may otherwise at any time have under applicable law with respect to the Spread Account and agrees that amounts in the Spread
Account shall at all times be held and applied solely in accordance with the provisions hereof. 
  
 Section 4.10. Control by the Controlling Party. The Collateral Agent shall comply with notices and instructions given by the Trust only if
accompanied by the written consent of the Controlling Party, except that if any Default shall have occurred and be continuing, the Collateral Agent shall act upon and comply with notices and instructions given by the Controlling Party alone in the
place and stead of the Trust. 
  
 Section 4.11. Limitation
of Collateral Agent Liability. In no event shall the Trustee, the Trust Collateral Agent or the Collateral Agent be liable for any indirect, special, punitive or consequential loss or damage of any kind whatsoever, including but not limited to,
lost profits, even if the Trustee, the Trust Collateral Agent or the Collateral Agent has been advised of the likelihood of such loss or damage and regardless of the form of action. 
  

 16 

 In no event shall the Trustee, the Trust Collateral Agent or the Collateral Agent be liable for any
failure or delay in the performance of its obligations hereunder because of circumstances beyond its control, including but not limited to, acts of God, flood, war (whether declared or undeclared), terrorism, fire, riot, embargo, government action,
including any laws, ordinances, regulations, governmental action or the like which delay, restrict or prohibit the providing of the services contemplated by this Insurance Agreement. 
  
 ARTICLE V 
  
 COVENANTS OF THE TRUST 
  
 Section 5.01. Preservation of Spread Account Agreement Collateral. Subject to the rights, powers and authorities granted to the Collateral
Agent and the Controlling Party in this Agreement, the Trust shall take such action as is necessary and proper with respect to the Spread Account Agreement Collateral in order to preserve and maintain such Spread Account Agreement Collateral and to
cause (subject to the rights of the Trust Secured Parties) the Collateral Agent to perform its obligations with respect to such Spread Account Agreement Collateral as provided herein including, without limitation, filing UCC-1s on the Spread Account
and investments therein. The Trust will do, file, execute, acknowledge and deliver, or cause to be done, filed, executed, acknowledged and delivered, such instruments of transfer or take such other steps or actions as may be necessary, or required
by the Controlling Party, to perfect the Security Interests granted hereunder in the Spread Account Agreement Collateral, to ensure that such Security Interests rank prior to all other Liens and to preserve the priority of such Security Interests
and the validity and enforceability thereof. 
  
 Section 5.02. Notices. In the event that the Trust acquires knowledge of the occurrence and continuance of any Insurance Agreement Event of Default or Event of Default under the Indenture or of any event of default or like
event, howsoever described or called, under any of the Basic Documents, the Trust shall immediately give written notice thereof to the Collateral Agent and each Trust Secured Party. 
  
 Section 5.03. Waiver of Stay or Extension Laws; Marshalling of Assets. The Trust covenants, to the fullest
extent permitted by applicable law, that it will not at any time insist upon, plead or in any manner whatsoever claim or take the benefit or advantage of, any appraisement, valuation, stay, extension or redemption law wherever enacted, now or at any
time hereafter in force, in order to prevent or hinder the enforcement of this Agreement or any absolute sale of the Spread Account Agreement Collateral or any part thereof, or the possession thereof by any purchaser at any sale under
Article Seven; and the Trust, to the fullest extent permitted by applicable law, for itself and all who may claim under it, hereby waives the benefit of all such laws, and covenants that it will not hinder, delay or impede the execution of any
power herein granted to the Collateral Agent, but will suffer and permit the execution of every such power as though no such law had been enacted. The Trust, for itself and all who may claim under it, waives, to the fullest extent permitted by
applicable law, all right to have the Spread Account Agreement Collateral marshaled upon any foreclosure or other disposition thereof. 
  

 17 

 Section 5.04. Noninterference, etc. The Trust shall not (i) waive or alter any of its
rights under the Spread Account Agreement Collateral (or any agreement or instrument relating thereto) without the prior written consent of the Controlling Party, (ii) fail to pay any tax, assessment, charge or fee levied or assessed against
the Spread Account Agreement Collateral, or to defend any action, if such failure to pay or defend may adversely affect the priority or enforceability of the Trust’s right, title or interest in and to the Spread Account Agreement Collateral or
the Collateral Agent’s lien on, and security interest in, the Spread Account Agreement Collateral for the benefit of the Trust Secured Parties or (iii) take any action, or fail to take any action, if such action or failure to take action
will interfere with the enforcement of any rights under the Basic Documents. 
  
 Section 5.05. Trust Changes. 
  
 (a) Change in Name, Structure, etc. The Trust shall not change its name, identity or corporate structure unless it shall have given each Trust Secured Party and the Collateral Agent at least 30
days’ prior written notice thereof, shall have effected any necessary or appropriate assignments or amendments thereto and filings of financing statements or amendments thereto. 
  
 (b) Relocation of the Trust. The Trust shall not change its principal executive office or jurisdiction of
organization unless it gives each Trust Secured Party and the Collateral Agent at least 30 days’ prior written notice of any relocation of its principal executive office. If the Trust relocates its principal executive office, jurisdiction of
organization or principal place of business from Delaware, the Trust shall give prior notice thereof to the Controlling Party and the Collateral Agent and shall effect whatever appropriate recordations and filings are necessary and shall provide an
Opinion of Counsel to the Controlling Party and the Collateral Agent, to the effect that, upon the recording of any necessary assignments or amendments to previously-recorded assignments and filing of any necessary amendments to the previously filed
financing or continuation statements or upon the filing of one or more specified new financing statements, and the taking of such other actions as may be specified in such opinion, the security interests in the Spread Account Agreement Collateral
shall remain, after such relocation, valid and perfected. 
  
 ARTICLE VI 
  
 CONTROLLING PARTY; INTERCREDITOR
PROVISIONS 
  
 Section 6.01. Appointment of
Controlling Party. From and after the Closing Date until the Insurer Termination Date, the Insurer shall be the Controlling Party and shall be entitled to exercise all the rights given the Controlling Party hereunder. From and after the Insurer
Termination Date until the Trustee Termination Date, the Trustee shall be the Controlling Party. Notwithstanding the foregoing, in the event that an Insurer Default shall have occurred and be continuing, the Trustee shall be the Controlling Party
until the applicable Trustee Termination Date. If prior to an Insurer Termination Date the Trustee shall have become the Controlling Party as a result of the occurrence of an Insurer Default and either such Insurer Default is cured or for any other
reason ceases to exist or the Trustee Termination Date occurs, then upon such cure or other cessation or on such Trustee Termination Date, as the case may be, the Insurer shall, upon written notice thereof being duly given to the Collateral Agent,
again be the Controlling Party. 
  

 18 

 Section 6.02. Controlling Party’s Authority. 
  
 (a) The Trust hereby irrevocably appoints the Collateral Agent, and any
successor to the Collateral Agent appointed pursuant to Section 4.05 hereof, its true and lawful attorney, with full power of substitution, in the name of the Trust, the Trust Secured Parties or otherwise, but (subject to Section 2.06
hereof) at the expense of the Trust, to the extent permitted by law to exercise, at any time and from time to time while any Insurance Agreement Event of Default has occurred but at all such times at the written direction of the Controlling Party,
any or all of the following powers with respect to all or any of the Spread Account Agreement Collateral: (i) to demand, sue for, collect, receive and give acquittance for any and all monies due or to become due upon or by virtue thereof,
(ii) to settle, compromise, compound, prosecute or defend any action or proceeding with respect thereto, (iii) to sell, transfer, assign or otherwise deal with the same or the proceeds thereof as fully and effectively as if the Collateral
Agent were the absolute owner thereof, and (iv) to extend the time of payment of any or all thereof and to make any allowance or other adjustments with respect thereto. 
  
 (b) With respect to the Notes and the related Spread Account Agreement Collateral, each Trust Secured Party hereby
irrevocably and unconditionally constitutes and appoints the Collateral Agent, and any successor to such Collateral Agent appointed pursuant to Section 4.05 hereof from time to time, as the true and lawful attorney-in-fact of the Trust Secured
Parties, with full power of substitution, to execute, acknowledge and deliver any notice, document, certificate, paper, pleading or instrument and to do in the name of the Collateral Agent as well as in the name, place and stead of such Trust
Secured Party such acts, things and deeds for and on behalf of and in the name of the Trust Secured Parties under this Agreement which the Trust Secured Parties could or might do or which may be necessary, desirable or convenient in the Collateral
Agent’s sole discretion with the prior written consent of the Controlling Party or at the written direction of the Controlling Party to effect the purposes contemplated hereunder and, without limitation, exercise full right, power and authority
to take, or defer from taking, any and all acts with respect to the administration of the Spread Account Agreement Collateral, and the enforcement of the rights of the Trust Secured Parties hereunder, on behalf of and for the benefit of the Trust
Secured Parties, as their interests may appear. 
  
 Section 6.03. Rights of Trust Secured Parties. With respect to the Notes and the related Spread Account Agreement Collateral, the Non-Controlling Party at any time expressly agrees that it shall not assert any rights that it may
otherwise have, as an Trust Secured Party with respect to the Spread Account Agreement Collateral, to direct the maintenance, sale or other disposition of the Spread Account Agreement Collateral or any portion thereof, notwithstanding the occurrence
and continuance of any Default or any non-performance by the Trust of any obligation owed to such Trust Secured Party hereunder or under any other Basic Document, and each party hereto agrees that the Collateral Agent, at the written direction of
the Controlling Party shall be the only Person entitled to assert and exercise such rights. 
  

 19 

 Section 6.04. Degree of Care. 
  
 (a) Controlling Party. Notwithstanding any term or provision of this Agreement, the Collateral Agent shall
incur no liability to the Trust for any action taken or omitted by the Collateral Agent in connection with the Spread Account Agreement Collateral, except for any negligence, bad faith or willful misconduct on the part of the Collateral Agent and,
further, shall incur no liability to the Non-Controlling Party except for the negligence, bad faith or willful misconduct of the Collateral Agent in carrying out its duties, if any, to the Non-Controlling Party. The Collateral Agent shall be
completely protected and shall incur no liability to any such party in relying upon the accuracy, acting in reliance upon the contents and assuming the genuineness of any notice, demand, certificate, signature, instrument or other document believed
by the Collateral Agent to be genuine and to have been duly executed by the appropriate signatory, and (absent manifest error or actual knowledge to the contrary) the Collateral Agent shall not be required to make any independent investigation with
respect thereto. The Collateral Agent shall, at all times, be free independently to establish to its reasonable satisfaction the existence or nonexistence, as the case may be, of any fact the existence or nonexistence of which shall be a condition
to the exercise or enforcement of any right or remedy under this Agreement or any of the Basic Documents. 
  
 (b) The Non-Controlling Party. The Non-Controlling Party shall not be liable to the Trust for any action or failure to act by the
Controlling Party or the Collateral Agent in exercising, or failing to exercise, any rights or remedies hereunder. 
  
 ARTICLE VII 
  
 REMEDIES UPON DEFAULT 
  
 Section 7.01.
Remedies upon a Default. If a Default has occurred, the Collateral Agent shall, at the written direction of the Controlling Party, take whatever action at law or in equity as may appear necessary or desirable in the judgment of the Controlling
Party to collect and satisfy all Trust Secured Obligations, including, but not limited to, foreclosure upon the Spread Account Agreement Collateral and all other rights available to secured parties under applicable law or to enforce performance and
observance of any obligation, agreement or covenant under any of the Basic Documents. 
  
 Section 7.02. Waiver of Default. The Controlling Party shall have the sole right, to be exercised in its complete discretion, to waive any Default by a writing setting forth the terms, conditions and
extent of such waiver signed by the Controlling Party and delivered to the Collateral Agent, the other Trust Secured Party and the Trust. Any such waiver shall be binding upon the Non-Controlling Party and the Collateral Agent. Unless such writing
expressly provides to the contrary, any waiver so granted shall extend only to the specific event or occurrence which gave rise to the Default so waived and not to any other similar event or occurrence which occurs subsequent to the date of such
waiver. 
  
 Section 7.03. Restoration of Rights and
Remedies. If the Collateral Agent has instituted any proceeding to enforce any right or remedy under this Agreement, and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Collateral Agent,
then and in every such case the Trust, the Collateral Agent and each of the Trust Secured Parties shall, subject to any determination in such proceeding, be 
  

 20 

 restored severally and respectively to their former positions hereunder, and thereafter all rights and remedies of the
Trust Secured Parties shall continue as though no such proceeding had been instituted. 
  
 Section 7.04. No Remedy Exclusive. No right or remedy herein conferred upon or reserved to the Collateral Agent, the Controlling Party or either of the Trust Secured Parties is intended to be exclusive of
any other right or remedy, and every right or 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, in equity or otherwise (but, in each case,
shall be subject to the provisions of this Agreement limiting such remedies), and each and every right, power and remedy whether specifically herein given or otherwise existing may be exercised from time to time and as often and in such order as may
be deemed expedient by the Controlling Party, and the exercise of or the beginning of the exercise of any right or power or remedy shall not be construed to be a waiver of the right to exercise at the same time or thereafter any other right, power
or remedy. 
  
 ARTICLE VIII 
  
 MISCELLANEOUS 
  
 Section 8.01. Further Assurances. Each party hereto shall take
such action and deliver such instruments to any other party hereto, in addition to the actions and instruments specifically provided for herein, as may be reasonably requested or required to effectuate the purpose or provisions of this Agreement or
to confirm or perfect any transaction described or contemplated herein. 
  
 Section 8.02. Waiver. Any waiver by any party of any provision of this Agreement or any right, remedy or option hereunder shall only prevent and stop such party from thereafter enforcing such provision, right, remedy or option
if such waiver is given in writing and only as to the specific instance and for the specific purpose for which such waiver was given. The failure or refusal of any party hereto to insist in any one or more instances, or in a course of dealing, upon
the strict performance of any of the terms or provisions of this Agreement by any party hereto or the partial exercise of any right, remedy or option hereunder shall not be construed as a waiver or relinquishment of any such term or provision, but
the same shall continue in full force and effect. 
  
 Section 8.03. Amendments; Waivers. No amendment, modification, waiver or supplement to this Agreement or any provision of this Agreement shall in any event be effective unless the same shall have been made or consented to in
writing by each of the parties hereto and prior written notice shall have been given to the Rating Agencies; provided, however, that, notwithstanding the foregoing, for so long as the Insurer shall be the Controlling Party, any
amendments, modifications, waivers or supplements hereto, or to the Spread Account Agreement Collateral or Spread Account or to any requirement hereunder to deposit or retain any amounts in such Spread Account or to distribute any amounts therein as
provided in Section 3.03 hereof shall be effective if made or consented to in writing by the Insurer, the Trust and the Collateral Agent (the consent of which shall not be withheld or delayed with respect to any amendment that does not
adversely affect the Collateral Agent) but shall in no circumstances require the consent of the Trustee or the Noteholders. 
  

 21 

 Section 8.04. Severability. In the event that any provision of this Agreement or the
application thereof to any party hereto or to any circumstance or in any jurisdiction governing this Agreement shall, to any extent, be invalid or unenforceable under any applicable statute, regulation or rule of law, then such provision shall be
deemed inoperative to the extent that it is invalid or unenforceable and the remainder of this Agreement, and the application of any such invalid or unenforceable provision to the parties, jurisdictions or circumstances other than to whom or to
which it is held invalid or unenforceable, shall not be affected thereby nor shall the same affect the validity or enforceability of any other provision of this Agreement. The parties hereto further agree that the holding by any court of competent
jurisdiction that any remedy pursued by the Collateral Agent, or any of the Trust Secured Parties, hereunder is unavailable or unenforceable shall not affect in any way the ability of the Collateral Agent or any of the Trust Secured Parties to
pursue any other remedy available to it or them (subject, however, to the provisions of this Agreement limiting such remedies). 
  
 Section 8.05. Nonpetition Covenant. Notwithstanding any prior termination of this Agreement, each of the parties hereto agrees that it shall
not, prior to one year and one day after the Final Scheduled Distribution Date of the Class A-3 Notes and payment of all amounts due to the Insurer under the Insurance Agreement, acquiesce, petition or otherwise invoke or cause the Trust or the
Seller to invoke the process of the United States of America, any State or other political subdivision thereof or any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government for the
purpose of commencing or sustaining a case by or against the Trust or the Seller under a federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar
official of the Trust or the Seller or all or any part of its respective property or assets or ordering the winding up or liquidation of the affairs of the Trust or the Seller. The parties agree that damages will be an inadequate remedy for breach
of this covenant and that this covenant may be specifically enforced. 
  
 Section 8.06. Notices. All notices, demands, certificates, requests and communications hereunder (“notices”) shall be in writing and shall be effective (a) upon receipt when sent through the U.S. mails, registered
or certified mail, return receipt requested, postage prepaid, with such receipt to be effective the date of delivery indicated on the return receipt, (b) one Business Day after delivery to an overnight courier, (c) on the date personally
delivered to an Authorized Officer of the party to which sent, or (d) on the date transmitted by legible telecopier transmission with a confirmation of receipt, in all cases addressed to the recipient as follows: 
  

			
	(a)	  	If to the Trust:
		
	UPFC	  	Auto Receivables Trust 2006-    
	 	  	c/o Wells Fargo Delaware Trust Company
	 	  	919 N. Market Street
	 	  	Suite 700
	 	  	Wilmington, Delaware 19801
	 	  	Attention: Corporate Trust Services
	 	  	Telephone: (302) 575-2004
	 	  	Facsimile: (302) 575-2006

  

 22 

			
	(b)	  	If to the Insurer:
		
	 	  	______________________
	 	  	______________________
	 	  	______________________
	 	  	Re:                     
	 	  	Attention:                     
	 	  	Telephone:                     
	 	  	Facsimile:                         
	 	  	E-mail:
                                       
 
	 	  	(in each case in which notice or other communication to the Insurer refers to a Default or a claim on the Policy or in which failure on the part of the Insurer to respond shall be deemed to
constitute consent or acceptance, then with a copy to the attention of the General Counsel marked to reflect “Urgent Materials Enclosed”)
		
	(c)	  	If to the Trustee and the Trust Collateral Agent:
		
	 	  	Deutsche Bank Trust Company Americas
	 	  	60 Wall Street, 26th Floor
	 	  	New York, New York 10005
	 	  	Facsimile number: (212) 797-8606
	 	  	Attention: UPFC Auto Receivables Trust 2006-    
		
	(d)	  	If to the Collateral Agent:
		
	 	  	Deutsche Bank Trust Company Americas
	 	  	60 Wall Street, 25th Floor
	 	  	New York, New York 10005
	 	  	Facsimile number: (212) 797-8606
	 	  	Attention: UPFC Auto Receivables Trust 2006-    
		
	(e)	  	If to Moody’s:
		
	 	  	Moody’s Investors Service, Inc.
	 	  	ABS Monitoring Department
	 	  	99 Church Street
	 	  	New York, New York 10007

  

 23 

			
	(f)	  	If to Standard & Poor’s:
		
	 	  	via electronic delivery to Servicer_reports@sandp.com.
		
	 	  	For any information not available in electronic format, send hard copies to:
		
	 	  	Standard & Poor’s Ratings Services, a division of
	 	  	The McGraw Hill Companies, Inc.
	 	  	55 Water Street, 40th Floor
	 	  	New York, New York 10041
	 	  	Attention: Asset-Backed Surveillance Department

  
 A copy of each notice
given hereunder to any party hereto shall also be given to (without duplication) the Insurer, the Trust, the Trustee, the Trust Collateral Agent and the Collateral Agent. Each party hereto may, by notice given in accordance herewith to each of the
other parties hereto, designate any further or different address to which subsequent notices shall be sent. 
  
 Section 8.07. Term of this Agreement. This Agreement shall take effect on the Closing Date and shall continue in effect until the Distribution
Date occurring immediately following the Final Termination Date. On the Distribution Date occurring immediately following the Final Termination Date and after giving effect to any withdrawals pursuant to Section 3.03 hereof, this Agreement
shall terminate, all obligations of the parties hereunder shall cease and terminate and the Spread Account Agreement Collateral, if any, held hereunder and not to be used or applied in discharge of any obligations of the Trust in respect of the
Trust Secured Obligations or otherwise under this Agreement, shall be released to and in favor of the Trust; provided that the provisions of Sections 4.06, 4.07 and 8.05 hereof shall survive any termination of this Agreement and the release of any
Spread Account Agreement Collateral upon such termination. 
  
 Section 8.08. Assignments; Third-Party Rights; Reinsurance. 
  
 (a) This Agreement shall be a continuing obligation of the parties hereto and shall (i) be binding upon the parties and their respective successors and assigns, and (ii) inure to the benefit of and be
enforceable by each Trust Secured Party and the Collateral Agent, and by their respective successors, transferees and assigns. The Trust may not assign this Agreement, or delegate any of its duties hereunder, without the prior written consent of the
Controlling Party. 
  
 (b) The Insurer shall have the right to
give participations in its rights under this Agreement and to enter into contracts of reinsurance with respect to the Note Policy issued in connection with the Notes, upon such terms and conditions as the Insurer in its discretion determines, and
each such participant or reinsurer shall be entitled to the benefit of any representation, warranty, covenant and obligation of each party (other than the Insurer) hereunder as if such participant or reinsurer was a party hereto and, subject only to
such agreement regarding such reinsurance or participation, shall have the right to enforce the obligations of each such other party directly hereunder; provided, however, that no such 
  

 24 

 reinsurance or participation agreement or arrangement shall relieve the Insurer of its obligations hereunder, under the
Basic Documents to which it is a party or under the Note Policy. In addition, nothing contained herein shall restrict the Insurer from assigning to any Person pursuant to any liquidity facility or credit facility any rights of the Insurer under this
Agreement or with respect to any real or personal property or other interests pledged to the Insurer, or in which the Insurer has a security interest, in connection with the transactions contemplated hereby. 
  
 Section 8.09. Consent of Controlling Party. In the event that the
Controlling Party’s consent is required under the terms hereof or under the terms of any Basic Document, it is understood and agreed that, except as otherwise provided expressly herein, the determination whether to grant or withhold such
consent shall be made solely by the Controlling Party in its sole discretion. 
  
 Section 8.10. Consents to Jurisdiction. Each of the parties hereto irrevocably submits to the non-exclusive jurisdiction of the United States District Court for the Southern District of New York, any court
in the state of New York located in the city and county of New York, and any appellate court from any thereof, in any action, suit or proceeding brought against it and related to or in connection with this Agreement, the other Basic Documents or the
transactions contemplated hereunder or thereunder 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 suit or action or proceeding may be
heard or determined in such New York State court or, to the extent permitted by law, in such federal court. Each of the parties hereto agrees that a final judgment in any such action, suit 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. To the extent permitted by applicable law, each of the parties hereby waives and agrees not to assert by way of motion, as a defense or otherwise in any such suit,
action or proceeding, any claim that it is not personally subject to the jurisdiction of such courts, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this
Agreement or any of the other Basic Documents or the subject matter hereof or thereof may not be litigated in or by such courts. The Trust hereby irrevocably appoints and designates Deutsche Bank Trust Company Americas, as its true and lawful
attorney and duly authorized agent for acceptance of service of legal process relating hereto. The Trust agrees that service of such process upon such Person shall constitute personal service of such process upon it. Subject to Section 8.05
hereof, nothing contained in this Agreement shall limit or affect the rights of any party hereto to serve process in any other manner permitted by law or to start legal proceedings relating to any of the Basic Documents against the Trust or its
property in the courts of any jurisdiction. 
  
 Section 8.11. Determination of Adverse Effect. Any determination of an adverse effect on the interest of the Trust Secured Parties or the Noteholders shall be made without consideration of the availability of funds under the
Note Policy. 
  
 Section 8.12. Headings. The headings
of articles, sections and paragraphs and the Table of Contents contained in this Agreement are provided for convenience only. They form no part of this Agreement and shall not affect its construction or interpretation. 
  

 25 

 Section 8.13. TRIAL BY JURY WAIVED. EACH OF THE PARTIES HERETO WAIVES, TO THE FULLEST EXTENT
PERMITTED BY LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION ARISING DIRECTLY OR INDIRECTLY OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT, ANY OF THE OTHER BASIC DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED
HEREUNDER OR THEREUNDER. EACH OF THE PARTIES HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE
THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER BASIC DOCUMENTS TO WHICH IT IS A PARTY, BY AMONG OTHER THINGS, THIS WAIVER. 
  
 Section 8.14. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ITS CONFLICTS OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES UNDER THIS
AGREEMENT SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
  
 Section 8.15. Counterparts. This Agreement may be executed in two or more counterparts by the parties hereto, and each such counterpart shall be considered an original and all such counterparts shall constitute one and the same
instrument. 
  
 Section 8.16. Limitation of Liability.

  
 (a) It is expressly understood and agreed by the parties
hereto that (i) this Agreement is executed and delivered by Wells Fargo Delaware Trust Company, not individually or personally but solely as Owner Trustee of the Trust, in the exercise of the powers and authority conferred and vested in it,
(ii) each of the representations, undertakings and agreements herein made on the part of the Trust or Owner Trustee is made and intended not as personal representations, undertakings and agreements by Wells Fargo Delaware Trust Company but is
made and intended for the purpose of binding only the Trust, (iii) nothing herein contained shall be construed as creating any liability on Wells Fargo Delaware Trust Company, individually or personally, to perform any covenant either expressed
or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (iv) under no circumstances shall Wells Fargo Delaware Trust Company be
personally liable for the payment of any indebtedness or expenses of the Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust or Owner Trustee under this Agreement or
any other Transaction Document. 
  
 (b) Notwithstanding anything
contained herein to the contrary, this Agreement has been executed and delivered by Deutsche Bank Trust Company Americas, not in its individual capacity but solely in its capacities as Collateral Agent, Trustee and Trust Collateral Agent and in no
event shall Deutsche Bank Trust Company Americas, have any liability for the representations, warranties, covenants, agreements or other obligations of the Trust hereunder or in any of the certificates, notices or agreements delivered pursuant
hereto, as to all of which recourse shall be had solely to the assets of the Trust. 
  
 [REMAINDER OF PAGE INTENTIONALLY BLANK; SIGNATURE PAGE FOLLOWS] 
  

 26 

 IN WITNESS WHEREOF, the parties hereto have executed this Spread Account Agreement as of the date set forth on the first
page hereof. 
  

			
	UPFC AUTO RECEIVABLES TRUST 2006-    , as Trust
		
	By:	 	WELLS FARGO DELAWARE TRUST COMPANY, not in its individual capacity but solely as Owner Trustee on behalf of the Trust.
		
	By:	 	  

	Name:	 	 
	Title:	 	 
	
	                                       
                      ,
 as
Insurer

		
	By:	 	  

	Name:	 	 
	Title:	 	 
	
	DEUTSCHE BANK TRUST COMPANY AMERICAS,
	as Trustee, as Trust Collateral Agent and as Collateral Agent
		
	By:	 	  

	Name:	 	 
	Title:	 	 

  

			
	Accepted and Agreed with respect to Sections 4.06 and 4.07:
	
	UNITED AUTO CREDIT CORPORATION
		
	By:	 	  

	Name:	 	 
	Title:	 	 

  

 1 

 SCHEDULE A 
  

LEVEL 1, LEVEL 2 AND LEVEL 3 TRIGGER EVENTS: 
 CUMULATIVE NET LOSS TESTS AND DELINQUENCY TESTS 
  

							
	Cumulative Net Loss Tests

	Month

	 	Level 1

	 	Level 2

	 	Level 3

	  1	 	 	 	 	 	 
	  2	 	 	 	 	 	 
	  3	 	 	 	 	 	 
	  4	 	 	 	 	 	 
	  5	 	 	 	 	 	 
	  6	 	 	 	 	 	 
	  7	 	 	 	 	 	 
	  8	 	 	 	 	 	 
	  9	 	 	 	 	 	 
	10	 	 	 	 	 	 
	11	 	 	 	 	 	 
	12	 	 	 	 	 	 
	13	 	 	 	 	 	 
	14	 	 	 	 	 	 
	15	 	 	 	 	 	 
	16	 	 	 	 	 	 
	17	 	 	 	 	 	 
	18	 	 	 	 	 	 
	19	 	 	 	 	 	 
	20	 	 	 	 	 	 
	21	 	 	 	 	 	 
	22	 	 	 	 	 	 
	23	 	 	 	 	 	 
	24	 	 	 	 	 	 
	25	 	 	 	 	 	 
	26	 	 	 	 	 	 
	27	 	 	 	 	 	 
	28	 	 	 	 	 	 
	29	 	 	 	 	 	 
	30	 	 	 	 	 	 
	31	 	 	 	 	 	 
	32	 	 	 	 	 	 
	33	 	 	 	 	 	 
	34	 	 	 	 	 	 
	35	 	 	 	 	 	 
	36 and on	 	 	 	 	 	 

							
	Delinquency Tests

	Month

	 	Level 1

	 	Level 2

	 	Level 3

	  1	 	 	 	 	 	 
	  2	 	 	 	 	 	 
	  3	 	 	 	 	 	 
	  4	 	 	 	 	 	 
	  5	 	 	 	 	 	 
	  6	 	 	 	 	 	 
	  7	 	 	 	 	 	 
	  8	 	 	 	 	 	 
	  9	 	 	 	 	 	 
	10	 	 	 	 	 	 
	11	 	 	 	 	 	 
	12	 	 	 	 	 	 
	13	 	 	 	 	 	 
	14	 	 	 	 	 	 
	15	 	 	 	 	 	 
	16	 	 	 	 	 	 
	17	 	 	 	 	 	 
	18	 	 	 	 	 	 
	19	 	 	 	 	 	 
	20	 	 	 	 	 	 
	21	 	 	 	 	 	 
	22	 	 	 	 	 	 
	23	 	 	 	 	 	 
	24	 	 	 	 	 	 
	25	 	 	 	 	 	 
	26	 	 	 	 	 	 
	27	 	 	 	 	 	 
	28	 	 	 	 	 	 
	29	 	 	 	 	 	 
	30	 	 	 	 	 	 
	31 and on	 	 	 	 	 	 

  

 3Exhibit 10.1

Execution Copy

AMENDED AND RESTATED
 CREDIT AGREEMENT

dated as of January 23, 2006

among

PRIVATE BUSINESS, INC.
 As Borrower,

and

BANK OF AMERICA, N.A.,
 As Lender

TABLE OF CONTENTS

	
   
 	
   
 	
   
 	
  
Page
  
	
   
 	
   
 	
   
 	
  

  
	
  
1.
  	
  
DEFINITIONS AND ACCOUNTING TERMS
  	
  
1
  
	
   
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
1.1
  	
  
Defined   Terms
  	
  
1
  
	
  
 
  	
  
1.2
  	
  
Other   Interpretive Provisions
  	
  
16
  
	
  
 
  	
  
1.3
  	
  
Accounting   Terms
  	
  
16
  
	
  
 
  	
  
1.4
  	
  
Rounding
  	
  
17
  
	
  
 
  	
  
1.5
  	
  
References   to Agreements and Laws
  	
  
17
  
	
   
  	
  
1.6
  	
  
Letter   of Credit Amounts
  	
  
17
  
	
  
 
  	
  
 
  	
   
 
	
  
2.
  	
  
THE COMMITMENTS AND CREDIT EXTENSIONS;   REVOLVING CREDIT LOAN AND TERM LOANS
  	
  
17
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
2.1
  	
  
Revolving   Credit Loan; Revolving Commitment
  	
  
17
  
	
  
 
  	
  
2.2
  	
  
Term   Loans.
  	
  
18
  
	
   
  	
  
2.3
  	
  
Letters   of Credit
  	
  
19
  
	
  
 
  	
  
2.4
  	
  
Borrowings,   Conversions and Continuations of Loans
  	
  
24
  
	
  
 
  	
  
2.5
  	
  
Prepayments
  	
  
25
  
	
  
 
  	
  
2.6
  	
  
Default   Rate
  	
  
25
  
	
  
 
  	
  
2.7
  	
  
Interest   Payable in Arrears
  	
  
25
  
	
   
  	
  
2.8
  	
  
Commitment   Fees; Lender’s Upfront Fee
  	
  
25
  
	
  
 
  	
  
2.9
  	
  
Computation   of Interest and Fees
  	
  
26
  
	
  
 
  	
  
2.10
  	
  
Payments   Generally
  	
  
26
  
	
  
 
  	
  
2.11
  	
  
Collateral
  	
  
27
  
	
  
 
  	
  
2.12
  	
  
Mandatory   Repayments
  	
  
27
  
	
   
  	
  
2.13
  	
  
Renewal   Option
  	
  
28
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
3.
  	
  
YIELD PROTECTION AND ILLEGALITY
  	
  
28
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
3.1
  	
  
Taxes
  	
  
28
  
	
  
 
  	
  
3.2
  	
  
Illegality
  	
  
30
  
	
   
  	
  
3.3
  	
  
Inability   to Determine Rates
  	
  
30
  
	
  
 
  	
  
3.4
  	
  
Increased   Cost and Reduced Return; Capital Adequacy; Reserves on LIBOR Loans
  	
  
30
  
	
  
 
  	
  
3.5
  	
  
Funding   Losses
  	
  
31
  
	
  
 
  	
  
3.6
  	
  
Matters   Applicable to all Requests for Compensation
  	
  
31
  
	
  
 
  	
  
3.7
  	
  
Survival
  	
  
31
  
	
   
  	
  
 
  	
  
 
  	
   
 
	
  
4.
  	
  
CONDITIONS OF EFFECTIVENESS
  	
  
32
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
4.1
  	
  
Conditions   of Effectiveness and New Credit Extensions
  	
  
32
  
	
  
 
  	
  
4.2
  	
  
Conditions   to all Credit Extensions and Conversions and Continuations
  	
  
34
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  5.
  	
  
REPRESENTATIONS AND WARRANTIES
  	
  
35
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
5.1
  	
  
Existence,   Qualification and Power; Compliance with Laws
  	
  
35
  
	
  
 
  	
  
5.2
  	
  
Authorization;   No Contravention
  	
  
35
  
	
  
 
  	
  
5.3
  	
  
Governmental   Authorization
  	
  
36
  
	
  
 
  	
  
5.4
  	
  
Binding   Effect
  	
  
36
  
	
   
  	
  
5.5
  	
  
Financial   Statements; No Material Adverse Effect
  	
  
36
  
	
  
 
  	
  
5.6
  	
  
Accounts   Receivable
  	
  
36
  
	
  
 
  	
  
5.7
  	
  
Litigation
  	
  
37
  
	
  
 
  	
  
5.8
  	
  
No   Default
  	
  
37
  
	
  
 
  	
  
5.9
  	
  
Ownership   of Property; Liens
  	
  
37
  

(i)

	
  
TABLE OF CONTENTS - (continued)
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
 
  	
  
 
  	
  
Page
  
	
  
 
  	
  
 
  	
  
 
  	
  

  
	
  
 
  	
  
5.10
  	
  
Environmental   Compliance
  	
  
37
  
	
   
  	
  
5.11
  	
  
Insurance
  	
  
37
  
	
  
 
  	
  
5.12
  	
  
Taxes
  	
  
38
  
	
  
 
  	
  
5.13
  	
  
ERISA   Compliance
  	
  
38
  
	
  
 
  	
  
5.14
  	
  
Subsidiaries
  	
  
38
  
	
  
 
  	
  
5.15
  	
  
Disclosure
  	
  
38
  
	
  
 
  	
  
5.16
  	
  
Compliance   with Laws
  	
  
39
  
	
   
  	
  
5.17
  	
  
Margin   Regulations; Investment Company Act; Public Utility Holding Company Act
  	
  
39
  
	
  
 
  	
  
5.18
  	
  
Rights   in Collateral; Priority of Liens
  	
  
39
  
	
  
 
  	
  
5.19
  	
  
Intellectual   Property
  	
  
39
  
	
  
 
  	
  
5.20
  	
  
Location   of Borrower
  	
  
42
  
	
  
 
  	
  
5.21
  	
  
Use of   Proceeds
  	
  
43
  
	
   
  	
  
5.22
  	
  
Solvent   Financial Condition
  	
  
43
  
	
  
 
  	
  
5.23
  	
  
Labor   Disputes; Acts of God
  	
  
43
  
	
  
 
  	
  
5.24
  	
  
Interest   Rate Hedging
  	
  
43
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
6.
  	
  
AFFIRMATIVE COVENANTS
  	
  
43
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
6.1
  	
  
Financial   Statements
  	
  
43
  
	
  
 
  	
  
6.2
  	
  
Certificates;   Other Information
  	
  
44
  
	
  
 
  	
  
6.3
  	
  
Notices
  	
  
45
  
	
  
 
  	
  
6.4
  	
  
Payment   of Obligations
  	
  
45
  
	
  
 
  	
  
6.5
  	
  
Preservation   of Existence, Etc
  	
  
45
  
	
   
  	
  
6.6
  	
  
Maintenance   of Properties
  	
  
45
  
	
  
 
  	
  
6.7
  	
  
Maintenance   of Insurance
  	
  
46
  
	
  
 
  	
  
6.8
  	
  
Compliance   with Laws
  	
  
46
  
	
  
 
  	
  
6.9
  	
  
Books   and Records
  	
  
46
  
	
  
 
  	
  
6.10
  	
  
Inspection   Rights
  	
  
46
  
	
   
  	
  
6.11
  	
  
Use of   Proceeds
  	
  
46
  
	
  
 
  	
  
6.12
  	
  
Financial   Covenants
  	
  
47
  
	
  
 
  	
  
6.13
  	
  
Additional   Subsidiaries
  	
  
47
  
	
  
 
  	
  
6.14
  	
  
Collateral   Records
  	
  
48
  
	
  
 
  	
  
6.15
  	
  
Security   Interests
  	
  
48
  
	
  
 
  	
  
6.16
  	
  
Notice   of Litigation, Claims, Etc
  	
  
48
  
	
   
  	
  
6.17
  	
  
Lender   as Principal Depository
  	
  
48
  
	
  
 
  	
  
6.18
  	
  
Key Man   Life Insurance
  	
  
48
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
7.
  	
  
NEGATIVE COVENANTS
  	
  
48
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
7.1
  	
  
Liens
  	
  
48
  
	
   
  	
  
7.2
  	
  
Investments   and Acquisitions
  	
  
49
  
	
  
 
  	
  
7.3
  	
  
Indebtedness
  	
  
50
  
	
  
 
  	
  
7.4
  	
  
Fundamental   Changes
  	
  
51
  
	
  
 
  	
  
7.5
  	
  
Dispositions
  	
  
52
  
	
  
 
  	
  
7.6
  	
  
Restricted   Payments
  	
  
52
  
	
  
 
  	
  
7.7
  	
  
Change   in Nature of Business
  	
  
52
  
	
   
  	
  
7.8
  	
  
Transactions   with Affiliates
  	
  
52
  
	
  
 
  	
  
7.9
  	
  
Margin   Regulations
  	
  
53
  

(ii)

	 TABLE OF CONTENTS - (continued)

	  
	  
	  
	 

	  
	  
	  
	 Page

	  
	  
	  
	

    

	
  
8.
  	
  
EVENTS OF DEFAULT AND REMEDIES
  	
  
53
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
8.1
  	
  
Events   of Default
  	
  
53
  
	
   
  	
  
8.2
  	
  
Remedies   Upon Event of Default
  	
  
55
  
	
  
 
  	
  
8.3
  	
  
Application   of Funds
  	
  
55
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
9.
  	
  
MISCELLANEOUS
  	
  
56
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
9.1
  	
  
Amendments,   Etc
  	
  
56
  
	
   
  	
  
9.2
  	
  
Notices   and Other Communications; Facsimile Copies
  	
  
56
  
	
  
 
  	
  
9.3
  	
  
No   Waiver; Cumulative Remedies
  	
  
57
  
	
  
 
  	
  
9.4
  	
  
Attorney   Costs, Expenses and Taxes
  	
  
57
  
	
  
 
  	
  
9.5
  	
  
Indemnification   by Borrower
  	
  
58
  
	
  
 
  	
  
9.6
  	
  
Payments   Set Aside
  	
  
58
  
	
   
  	
  
9.7
  	
  
Successors   and Assigns
  	
  
58
  
	
  
 
  	
  
9.8
  	
  
Interest   Rate Limitation
  	
  
59
  
	
  
 
  	
  
9.9
  	
  
Counterparts
  	
  
59
  
	
  
 
  	
  
9.10
  	
  
Integration
  	
  
59
  
	
  
 
  	
  
9.11
  	
  
Survival   of Representations and Warranties
  	
  
59
  
	
   
  	
  
9.12
  	
  
Severability
  	
  
59
  
	
  
 
  	
  
9.13
  	
  
Governing   Law; Submission to Jurisdiction
  	
  
60
  
	
  
 
  	
  
9.14
  	
  
Waiver   of Right to Trial by Jury
  	
  
60
  
	
  
 
  	
  
9.15
  	
  
Arbitration
  	
  
60
  
	
  
 
  	
  
9.16
  	
  
Confidentiality
  	
  
61
  
	
   
  	
  
9.17
  	
  
Time of   the Essence
  	
  
62
  
	
  
 
  	
  
9.18
  	
  
Existing   Credit Agreement; Effectiveness of Amendment and Closing
  	
  
62
  
	
  
 
  	
  
9.19
  	
  
Confirmation/Ratification   of the Revolving Credit Loan and Term Loans
  	
  
62
  
	
  
 
  	
  
9.20
  	
  
Effect   of Amendment and Closing of the Existing Credit Agreement
  	
  
62
  
	
  
 
  	
  
9.21
  	
  
Existing   Agreements Superseded
  	
  
63
  
	
   
  	
  
9.22
  	
  
USA   PATRIOT Act Notice
  	
  
63
  
	
  
 
  	
  
9.23
  	
  
Reproduction   of Documents
  	
  
63
  
	
  
 
  	
  
9.24
  	
  
Headings
  	
  
63
  

(iii)

SCHEDULES AND EXHIBITS

	
  
Schedule 1
  	
  
Subsidiary Sale
  
	
  
Schedule 2
  	
  
Acquisitions
  
	
  Schedule 5.7
  	
  
Litigation
  
	
  
Schedule   5.10
  	
  
Environmental Matters
  
	
  
Schedule   5.14
  	
  
Subsidiaries and Other Equity Investments
  
	
  
Schedule   5.19(b)
  	
  
Summaries of Intellectual Property Related Agreements
  
	
  
Schedule   5.19(c)
  	
  
Summary of Patents
  
	
  
Schedule   5.19(d)
  	
  
Summary of Trademarks
  
	
  
Schedule   5.19(e)
  	
  
Summary of Copyrights
  
	
  
Schedule   5.19(g)
  	
  
Summary of Internet Property
  
	
  
Schedule   5.23
  	
  
Labor Disputes
  
	
  
Schedule   5.20
  	
  
Addresses of Subsidiaries
  
	
  Schedule 7.1
  	
  
Existing Liens
  
	
  
Schedule 7.3
  	
  
Existing Indebtedness
  
	
  
Schedule 9.2
  	
  
Addresses for Notices
  
	
  
 
  	
   
 
	
  
Exhibit A
  	
  
Form of Borrower Security Agreement
  
	
  
Exhibit B
  	
  
Form of Borrower Stock Pledge Agreement
  
	
  
Exhibit C
  	
  
Form of Compliance Certificate
  
	
  
Exhibit D
  	
  
Form of Lightyear Guaranty
  
	
  
Exhibit E
  	
  
Form of Loan Notice
  
	
  
Exhibit F
  	
  
Form of Revolving Credit Loan Note
  
	
  Exhibit G
  	
  
Form of Subsidiary Guaranty
  
	
  
Exhibit H
  	
  
Form of Subsidiary Security Agreement
  
	
  
Exhibit I
  	
  
Form of Subsidiary Stock Pledge Agreement
  
	
  
Exhibit J
  	
  
Form of Term A Loan Note
  
	
  
Exhibit K
  	
  
Form of Term B Loan Note
  

(iv)

AMENDED AND RESTATED CREDIT AGREEMENT

          THIS AMENDED AND RESTATED CREDIT AGREEMENT (“Agreement”) is entered into as of January 23, 2006, among PRIVATE BUSINESS, INC., a Tennessee corporation (“Borrower”), each of its Subsidiaries party hereto (collectively, the “Subsidiaries” and, individually a “Subsidiary”) and BANK OF AMERICA, N.A. (“Lender”).

          WHEREAS, Borrower, certain of its Subsidiaries, and Lender have entered into the Existing Credit Agreement (as hereinafter defined);

          WHEREAS, the parties hereto have agreed to amend and restate the Existing Credit Agreement as provided in this Agreement;

          WHEREAS, it is the intent of the parties hereto that this Agreement not constitute a novation of the obligations and liabilities existing under the Existing Credit Agreement or evidence repayment of any of such obligations and liabilities (except as expressly provided herein) and that this Agreement amend and restate in its entirety the Existing Credit Agreement and re-evidence the obligations of Borrower outstanding thereunder;

          WHEREAS, Borrower desires that the Lender extend term loans and a revolving credit facility to Borrower to, among other things, (a) finance Acquisitions (as hereinafter defined) permitted pursuant to Section 7.2(g) or (h) hereof, (b) refinance certain existing Indebtedness and (c) finance working capital, capital expenditures, and other lawful corporate purposes of Borrower and its Subsidiaries subject to the limitations herein; and

          WHEREAS, Borrower desires to secure all of its Obligations (as hereinafter defined) under the Loan Documents (as hereinafter defined) by granting to Lender a security interest in and lien upon all of its personal property and real property including a pledge of the capital stock of all of its Subsidiaries.

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

          1.        DEFINITIONS AND ACCOUNTING TERMS.

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

                             “ACQUISITION” means (whether by purchase, lease, exchange, issuance of stock or other equity or debt securities, merger, reorganization or any other method) (a) any acquisition by Borrower or any Subsidiary of Borrower of any other Person, which Person shall then become consolidated with Borrower or any such Subsidiary in accordance with GAAP; (b) any acquisition by Borrower or any Subsidiary of Borrower of all or any substantial part of the assets of any other Person; or (c) any other acquisition by Borrower or any Subsidiary of Borrower of the assets of another Person which acquisition is not in the ordinary course of business for Borrower or such Subsidiary.

                             “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.  “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.  Without limiting the generality of the foregoing, a Person shall be deemed to be Controlled by another Person if such other Person possesses, directly or indirectly, power to vote 51% or more of the securities having ordinary voting power for the election of directors, managing general partners or equivalent governing
body of such Person.

                             “AGREEMENT” means this Amended and Restated Credit Agreement.

                             “ATTORNEY COSTS” means and includes all fees, expenses and disbursements of any law firm or other external counsel.

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

                             “AUTOBORROW AGREEMENT” means any autoborrow agreement entered into between Borrower and Lender, as such agreement may be modified from time to time.

                             “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 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.  The Base Rate or “prime rate” is not necessarily the lowest
rate charged by Lender on its loans and is set by Lender in its sole discretion.  If the prime rate index becomes unavailable during the term of this Loan, Lender may designate a substitute index after notifying Borrower.

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

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

                             “BORROWER SECURITY AGREEMENT” means that certain Amended and Restated Borrower Security Agreement dated as of the date hereof, executed by Borrower, in substantially the form of Exhibit A attached hereto.

- 2 -

                             “BORROWER STOCK PLEDGE AGREEMENT” means that certain Amended and Restated Borrower Stock Pledge Agreement dated as of the date hereof, executed by Borrower, in substantially the form of Exhibit B attached hereto.

                             “BORROWING” means, as applicable, a Borrowing under the Term A Loan, a Borrowing under the Term B Loan, and a Borrowing under the Revolving Credit Loan.

                             “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 Lender’s Office is located and, if such day relates to any LIBOR Loan, means any such day on which dealings in Dollar deposits are conducted by and between banks in the London interbank LIBOR market.

                             “CASH COLLATERALIZE” means to pledge and deposit with or deliver to Lender as collateral for the L/C Obligations, cash or deposit account balances pursuant to documentation in form and substance satisfactory to Lender. 

                             “CHANGE OF CONTROL” means (a) an event or series of events by which Lightyear owns less than 26.5% of the equity securities of Borrower entitled to vote for members of the board of directors, (b) the failure of Borrower to own, directly or indirectly, one hundred percent (100%) of the Ownership Interests of any Subsidiary (other than in connection with a Disposition permitted under Section 7.5 hereof), or (c) Lynn Boggs ceases to be employed by Borrower in a capacity comparable to his capacity as of the Closing Date, and a replacement executive satisfactory to Lender is not named within sixty (60) days of such change.

                             “CLOSING DATE” means January 23, 2006.

                             “CODE” means the Internal Revenue Code of 1986.

                             “COLLATERAL” shall mean any and all assets and rights and interests in or to property of Borrower and its subsidiaries, whether real or personal, tangible or intangible, in which a Lien is granted or purported to be granted pursuant to the Collateral Documents.

                             “COLLATERAL DOCUMENTS” means all agreements, instruments and documents now or hereafter executed and delivered in connection with this Agreement pursuant to which Liens are granted or purported to be granted to Lender in Collateral securing all or part of the Obligations each in form and substance satisfactory to Lender, including, without limitation, the Borrower Security Agreement, the Subsidiary Security Agreement, the borrower Stock Pledge Agreement and the Subsidiary Stock Pledge Agreement.

                             “COMMITMENT FEE” has the meaning specified in Section 2.8(a). 

                             “COMMITMENTS” means, as applicable, Lender’s obligation to make the Term A Loan, the Term B Loan, and the Revolving Credit Loan to Borrower pursuant to Article 2 and to issue Letters of Credit, and “Commitment” means any one of the foregoing.

- 3 -

                             “COMPLIANCE CERTIFICATE” means a certificate substantially in the form of Exhibit C attached hereto.

                             “CONTRACTUAL OBLIGATION” means, as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound.

                             “CONTROL” has the meaning specified in the definition of “Affiliate”.

                             “CREDIT EXTENSION” means a Borrowing.

                             “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 the interest rate then applicable, plus two percent (2%) per annum, in each case to the fullest extent permitted by applicable Laws.

                             “DISPOSITION” or “DISPOSE” means the sale, transfer, license, lease or other disposition (including any sale and leaseback transaction) of any property by any Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith (other than the transfer or license of software in such Person’s ordinary course of business operations).

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

                             “EBITDA” means, with respect to any Person for any period, on a consolidated basis the sum of (a) net income available to common stockholders plus (b) to the extent deducted in arriving at net income, the sum of:  (i) preferred stock dividends paid, (ii) income tax expense (less income tax benefit), (iii) interest expense, (iv) depreciation and amortization and (v) annual maintenance fees that will be required to be excluded from deferred revenue and the profit and loss statement in accordance with SOP 97-1 and SOP 98-2 as part of purchase accounting.  Notwithstanding the foregoing, to the extent deducted in arriving at net income, Borrower and its Subsidiaries may add back to EBITDA (A) for calculations which include periods ending prior to December 31, 2005,
employee severance expenses, certain litigation expenses and accrued employee initiative expenses, in each case as approved by Lender and incurred or expensed during periods ending prior to December 31, 2005, (B) for calculations which include periods ending prior to December 31, 2006, employee severance expenses, non-cash debt amortization expenses, and costs necessary to change Borrower’s corporate name and the rollout of said name, in each case incurred or expensed during periods ending prior to December 31, 2006,  in an aggregate amount not to exceed Seven Hundred Thousand Dollars ($700,000), (C) for calculations which include periods ending prior to

- 4 -

December 31, 2006, expenses relating to the write-off of existing debt issuance costs from the Existing Credit Agreement in an aggregate amount not to exceed One Hundred Thirty Thousand Dollars ($130,000), (D) for any period during the term of the Agreement, non-cash stock compensation expenses and (E) so long as such elimination occurs prior to December 31, 2006, following elimination of the duplicative leases in connection with the Acquisition listed on Schedule 2 attached hereto, as certified by Borrower, specifically identified synergies related to duplicative facilities rent, in an aggregate amount not to exceed Two Hundred Seventy-Seven Thousand Dollars ($277,000) for the twelve (12) month period ending on the quarter end immediately preceding the elimination of such leases, and not to exceed Two Hundred Seven Thousand Dollars ($207,000) for the twelve (12) month period ending on the first quarter end after the elimination of such leases; One Hundred
Thirty Eight Thousand Dollars ($138,000) for the twelve (12) month period ending on the second quarter end after the elimination of such leases; and Sixty-Nine Thousand Dollars ($69,000) for the twelve (12) month period ending on the third quarter end after the elimination of such leases.

                             “ENVIRONMENTAL LAWS” means any and all Federal, state, local, and foreign statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the release of any materials into the environment, including those related to hazardous substances or wastes, air emissions and discharges to waste or public systems.

                             “ENVIRONMENTAL LIABILITY” means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of Borrower, any other Loan Party or any of their respective Subsidiaries directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.

                             “ERISA” means the Employee Retirement Income Security Act of 1974.

                             “ERISA AFFILIATE” means any trade or business (whether or not incorporated) under common control with Borrower within the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code).

                            “ERISA EVENT” means (a) a Reportable Event with respect to a Pension Plan; (b) a withdrawal by Borrower or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by Borrower or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization; (d) the filing of a notice of intent to terminate, the treatment of a Plan amendment as a termination under Sections 4041 or 4041A of ERISA, or the commencement of proceedings

- 5 -

by the PBGC to terminate a Pension Plan or Multiemployer Plan; (e) an event or condition which might reasonably be expected to constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan or Multiemployer Plan; or (f) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon  Borrower or any ERISA Affiliate.

                            “EVENT OF DEFAULT” has the meaning specified in Section 8.1.

                            “EXISTING CREDIT AGREEMENT” means that certain Credit Agreement, dated as of January 19, 2004, by and among Borrower, Lender, and the other parties thereto, as amended from time to time prior to the date hereof.

                            “FIXED CHARGE COVERAGE RATIO” means for the 12-calandar month period ending on the last day of each calendar quarter, the ratio of (a) (i) EBITDA of Borrower for such period minus, (ii) to the extent made during such period, (A) income taxes paid (cash taxes paid) and (B) capital expenditures, to (b) the sum of (i) cash interest expense, (ii) scheduled principal repayments on Funded Debt and (iii) Restricted Payments, permitted pursuant to Section 7.6(a) hereof, in each case to the extent made during such period.  

                            “FUNDED DEBT” means all outstanding liabilities for borrowed money and other interest-bearing liabilities, including capital lease obligations and L/C Obligations, less Subordinated Liabilities and KVI Loans.

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

                            “GOVERNMENTAL AUTHORITY” means any nation or government, any state or other political subdivision thereof, any agency, authority, instrumentality, regulatory body, court, administrative tribunal, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government.

                            “GUARANTORS” means, collectively, Private Business Insurance, LLC, Forseon Corporation, Towne Services, Inc., KVI Capital, LLC, Captiva Financial Solutions, LLC, Lightyear and any Person which shall hereafter enter into a Guarantee of the Obligations.

                            “GUARANTEE” means, as to any Person, any (a) any obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or other obligation, (iii) to

- 6 -

maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any Indebtedness or other obligation of any other Person, whether or not such Indebtedness or other obligation is assumed by such Person.  The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect
thereof as determined by the guaranteeing Person in good faith.  The term “Guarantee” as a verb has a corresponding meaning.

                            “HAZARDOUS MATERIALS” means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any Environmental Law.

                            “INDEBTEDNESS” means, as to any Person at a particular time, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

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

                            (b)     all direct or contingent obligations of such Person arising under Letters of Credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments;

                            (c)     net obligations of such Person under any Swap Contract;

                            (d)     all obligations of such Person to pay the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business);

                            (e)     indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse;

                            (f)     capital leases and Synthetic Lease Obligations; and

                            (g)     all Guarantees of such Person in respect of any of the foregoing.

                            For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such Person.  The amount

- 7 -

of any net obligation under any Swap Contract on any date shall be Swap Termination Value thereof as of such date.  The amount of any capital lease or Synthetic Lease Obligation as of any date shall be deemed to be the amount of Attributable Indebtedness in respect thereof as of such date.

                            “INFORMATION” has the meaning specified in Section 9.8.

                            “INTEREST PAYMENT DATE” means, (a) as to any LIBOR 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 LIBOR 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 last Business Day of each March, June, September and December and the Maturity Date.

                            “INTEREST PERIOD” means as to each LIBOR Loan, the period commencing on the date such LIBOR Loan is disbursed or converted to or continued as a LIBOR Loan and ending on the date one, two, three or six months thereafter, as selected by Borrower in its Loan Notice, or such other period that is twelve months or less requested by Borrower and consented to by Lender; 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.

                            “INVESTMENT” means, as to any Person, any direct or indirect acquisition or investment by such Person, by the use of cash, capital stock or other securities, and whether by means of (a) the purchase or other acquisition of capital stock or other securities of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of debt of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person, or (c) other than an Acquisition hereunder, the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that constitute a business unit.  For purposes of covenant compliance, the amount of any
Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment.

                            “IRS” means the United States Internal Revenue Service.

                            “JUNIOR NOTE” means that certain Ten Million Dollars ($10,000,000) Senior Subordinated Note due 2010 issued by Borrower to Lightyear PBI Holdings, LLC, and issued pursuant to that certain Securities Purchase Agreement dated on December 9, 2005.

- 8 -

                            “KVI” means KVI Capital, LLC. 

                            “KVI EQUIPMENT” means all items of equipment purchased pursuant to KVI Loans and subsequently leased to third parties.

                            “KVI LOANS” means all non-recourse loans to KVI, the proceeds of which were used to purchase KVI Equipment.

                            “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 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.

                            “L/C ADVANCE” means Lender’s funding of any L/C Borrowing.

                            “L/C BORROWING” means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Borrowing.

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

                            “L/C OBLIGATIONS” means, as at any date of determination, the aggregate undrawn face amount of all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings.

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

                            “LENDER’S OFFICE” means the office or offices of Lender described as such on Schedule 9.2, or such other office or offices as Lender may from time to time notify Borrower.

                            “LETTER OF CREDIT” means any Letter of Credit issued hereunder.  A Letter of Credit may be a commercial Letter of Credit or a standby Letter of Credit.

                            “LETTER OF CREDIT APPLICATION” means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by Lender.

                            “LETTER OF CREDIT EXPIRATION DATE” means the day set forth in the Letter of Credit but which day shall be not later than that day which is seven (7) days prior to the Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

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                            “LETTER OF CREDIT SUBLIMIT” means an amount equal to Five Hundred Thousand Dollars ($500,000).  The Letter of Credit Sublimit is part of, and not in addition to, the Revolving Commitment.

                            “LIBOR” means for any Interest Period with respect to any LIBOR Loan, a rate per annum determined by Lender pursuant to the following formula:

	
  
 
  	
  
 
  	
  
London Inter-Bank Offered Rate
  
	
  
LIBOR
  	
  
=
  	
  

  
	
  
 
  	
  
 
  	
  
(1.00 - Reserve Percentage)
  

                            Where, 

                            (a)     “LONDON INTER-BANK OFFERED RATE” means the average per annum interest rate at which U.S. dollar deposits would be offered for the applicable interest period by major banks in the London inter-bank market, as shown on the Telerate Page 3750 (or any successor page) at approximately 11:00 a.m. London time two (2) London Banking Days before the commencement of the interest period.  If such rate does not appear on the Telerate Page 3750 (or any successor page), the rate for that interest period will be determined by such alternate method as reasonably selected by Lender.  A “London Banking Day” is a day on which Lender’s London Banking Center is open for business and dealing in offshore dollars.

                            (b)     “RESERVE PERCENTAGE” means the total of the maximum reserve percentages for determining the reserves to be maintained by member banks of the Federal Reserve System for Eurocurrency Liabilities, as defined in Federal Reserve Board Regulation D, rounded upward to the nearest 1/100 of one percent.  The percentage will be expressed as a decimal, and will include, but not be limited to, marginal, emergency, supplemental, special, and other reserve percentages.

                                       (i)     Borrower shall irrevocably request a LIBOR Loan no later than 12:00 noon Atlanta time on the LIBOR Banking Day preceding the day on which the London Inter-Bank Offered Rate will be set, as specified above.  For example, if there are no intervening holidays or weekend days in any of the relevant locations, the request must be made at least three days before the LIBOR takes effect.

                                       (ii)    Lender will have no obligation to accept an election for a LIBOR Loan if any of the following described events has occurred and is continuing:

                                               (A)     Dollar deposits in the principal amount, and for periods equal to the interest period, of a LIBOR Loan are not available in the London inter-bank market; or

                                               (B)     the LIBOR does not accurately reflect the cost of a LIBOR Loan.

                            “LIBOR LOAN” means a Loan (or a portion of a Loan) that bears interest at a rate based on the LIBOR.

                            “LIEN” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement of any kind or nature whatsoever (including any conditional sale or other title retention agreement), and any financing lease having substantially the same economic effect as any of the foregoing.

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                            “LIGHTYEAR” means The Lightyear Fund, L.P. and, as applicable, Lightyear PBI Holdings, LLC and any Affiliate of either of the foregoing.

                            “LIGHTYEAR GUARANTY” means that certain Sponsor Guaranty executed by Lightyear in favor of Lender, substantially in the form of Exhibit D attached hereto.

                            “LOANS” means the Revolving Credit Loan, the Term A Loan and the Term B Loan, collectively, and “LOAN” means any one of the foregoing.

                            “LOAN DOCUMENTS” means this Agreement, the Notes, each Collateral Document, the Lightyear Guaranty, the Subsidiary Guaranty, the Autoborrow Agreement, all Swap Contracts between Borrower on the one hand and Lender or any of its Affiliates on the other hand, and all other documents, instruments, certificates, financing statements and other agreements executed and delivered by Borrower or any of its Subsidiaries in connection with or contemplated by this Agreement or any of the foregoing documents.  

                            “LOAN NOTICE” means a notice of (a) a Borrowing, (b) a conversion of Loans from one Type to the other, or (c) a continuation of LIBOR Loans which if in writing, shall be substantially in the form of Exhibit E attached hereto.

                            “LOAN PARTIES” means, collectively, Borrower and each of its Subsidiaries and “Loan Party” means any one of the foregoing.

                            “MATERIAL ADVERSE EFFECT” means (a) a material adverse change in, or a material adverse effect upon, the operations, business, properties, liabilities (actual and contingent), condition (financial or otherwise) or prospects of Borrower or Borrower and its Subsidiaries taken as a whole or the Collateral taken as a whole; (b) a material impairment of the ability of any Loan Party to perform its obligations under any Loan Document to which it is a party such that the material impairment has a material adverse effect on the Loans or Borrower’s ability to perform hereunder; and (c) a material adverse effect upon the legality, validity, binding effect or enforceability against any Loan Party of any Loan Document to which it is a party such that it has a material adverse effect on the
Loans or Borrower’s ability to perform hereunder.  

                            “MULTIEMPLOYER PLAN” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions.

                            “NOTES” means the Revolving Credit Loan Note, the Term A Loan Note and the Term B Loan Note, collectively, and “NOTE” means any one of the foregoing.

                            “OBLIGATIONS” means all advances to, and debts, liabilities, obligations, covenants and duties of, any Loan Party arising under any Loan Document or

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

                            “ORGANIZATION DOCUMENTS” means, (a) with respect to any corporation, the charter or 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 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 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” shall have the meaning set forth in Section 3.1.

                            “OUTSTANDING AMOUNT” means (i) with respect to the Revolving Credit and Term Loans on any date, the aggregate outstanding principal amount thereof after giving effect to any Borrowings and prepayments or repayments of Loans, as the case may be, occurring on such date; and (ii) with respect to any L/C Obligations on any date, the amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C Obligations as of such date, including as a result of any reimbursements of outstanding unpaid drawings under any Letters of Credit or any reductions in the maximum amount available for drawing under Letters of Credit taking effect on such date.

                            “OWNERSHIP INTERESTS” shall mean all capital stock or other equity interests, including, without limitation, shares, options, warrants, general or limited partnership interests, membership interests or other equivalents (regardless of how designated) of or in a corporation, partnership, limited liability company or equivalent entity whether voting or non-voting, including common stock, preferred stock or any other “equity security” (as such term is defined in Rule 3a11-1 of Securities and Exchange Commission under the Securities Exchange Act of 1934).

                            “PBGC” means the Pension Benefit Guaranty Corporation.

                            “PENSION PLAN” means any “employee pension benefit plan” (as such term is defined in Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by Borrower or any ERISA Affiliate or to which Borrower or any ERISA Affiliate contributes or has an obligation to contribute, or in the case of a multiple employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five plan years.

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                            “PERSON” means any individual, trustee, corporation, general partnership, limited partnership, limited liability company, joint stock company, trust, unincorporated organization, bank, business association, firm, joint venture or Governmental Authority.

                            “PLAN” means any “employee benefit plan” (as such term is defined in Section 3(3) of ERISA) established by Borrower or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate.

                            “REPORTABLE EVENT” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the thirty (30) day notice period has been waived.

                            “REQUEST FOR CREDIT EXTENSION” means (a) with respect to a Borrowing, conversion or continuation of Loans, a Loan Notice, and (b) with respect to an L/C Credit Extension, a Letter of Credit Application.

                            “RESPONSIBLE OFFICER” means the chief executive officer, president, or chief financial officer of a Loan Party, and any other officer of any Loan Party who is named in a borrowing or other resolution granting such officer authority to act on behalf of the Loan Party.  Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party.

                            “RESTRICTED PAYMENT” means any dividend or other distribution (whether in cash, securities or other property) with respect to any capital stock or other equity interest of Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such capital stock or other equity interest or of any option, warrant or other right to acquire any such capital stock or other equity interest.

                            “REVOLVING COMMITMENT” means the Lender’s obligation to make the Revolving Credit Loan to Borrower pursuant to Section 2.1.

                            “REVOLVING CREDIT LOAN” and “REVOLVING CREDIT BORROWING” mean an advance under the Revolving Commitment.

                            “REVOLVING CREDIT MATURITY DATE” means with respect to the Revolving Credit Loan, January 23, 2008, or such earlier date as payment of the remaining outstanding principal amount of the Revolving Credit Loan or of all remaining outstanding Obligations shall be due (whether by acceleration or otherwise). 

                            “REVOLVING CREDIT LOAN NOTE” means that certain revolving promissory note in the aggregate principal amount not to exceed Two Million Dollars ($2,000,000), and issued by Borrower to Lender, in substantially the form of Exhibit F attached hereto.

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                            “SUBORDINATED LIABILITIES” means liabilities subordinated to the Obligations in a manner acceptable to Lender in its sole discretion.

                            “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 Borrower.

                            “SUBSIDIARY GUARANTY” means that certain Amended and Restated Continuing and Unconditional Guaranty executed by each of the Subsidiaries in favor of Lender, substantially in the form of Exhibit G attached hereto.

                            “SUBSIDIARY SALE” means the sale by Borrower, in one or a series of related transactions, of all or substantially all of the assets of, or ownership interests in any Subsidiary listed on Schedule 1 attached hereto (and the date of such sale shall be deemed the date on which purchaser pays the purchase price to Borrower).

                            “SUBSIDIARY SECURITY AGREEMENT” means that certain Amended and Restated Subsidiary Security Agreement, dated as of even date herewith, executed by each of the Subsidiaries, in substantially the form of Exhibit H attached hereto

                            “SUBSIDIARY STOCK PLEDGE AGREEMENT” means that certain Amended and Restated Subsidiary Stock Pledge Agreement, dated as of even date herewith, executed by certain of the Subsidiaries, in substantially the form of Exhibit I attached hereto

                            “SWAP CONTRACT” means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any
master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement.

                            “SWAP TERMINATION VALUE” means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting

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agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include Lender or any Affiliate of Lender).  

                            “SYNTHETIC LEASE OBLIGATION” means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).  

                            “TAXES” shall have the meaning in Section 3.1.

                            “TERM A LOAN” means an advance pursuant to Section 2.2(a)(i).

                            “TERM A LOAN MATURITY DATE” means with respect to the Term A Loan, January 23, 2008, or such earlier date as payment of the remaining outstanding principal amount of the Term A Loan or of all remaining outstanding Obligations shall be due (whether by acceleration or otherwise).

                            “TERM A LOAN NOTE” means that certain promissory note in the aggregate principal amount not to exceed Ten Million Dollars ($10,000,000), and issued by Borrower to Lender, in substantially the form of Exhibit J attached hereto.

                            “TERM B LOAN” means an advance pursuant to Section 2.2(a)(ii).

                            “TERM B LOAN MATURITY DATE” means the earlier of (a) the date of the Subsidiary Sale and (b) July 23, 2006 or such earlier date as payment of the remaining outstanding principal amount of the Term B Loan or of all remaining outstanding Obligations shall be due (whether by acceleration or otherwise).

                            “TERM B LOAN NOTE” means that certain promissory note in the aggregate principal amount not to exceed Six Million Dollars ($6,000,000), and issued by Borrower to Lender, in substantially the form of Exhibit K attached hereto.

                            “TERM LOANS” means the Term A Loan and Term B Loan collectively.

                            “THRESHOLD AMOUNT” means Five Hundred Thousand Dollars ($500,000).

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

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

                            “UNFUNDED PENSION LIABILITY” means the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year.

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

                            “UNREIMBURSED AMOUNT” means the amount of an unreimbursed drawing under a Letter of Credit.

                    1.2   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 meanings of defined terms are equally applicable to the singular and plural forms of the defined terms.

                            (b)     (i)     The words “herein”, “hereto”, “hereof” and “hereunder” and words of similar import when used in any Loan Document shall refer to such Loan Document as a whole and not to any particular provision thereof;  (ii) Article, Section, Exhibit and Schedule references are to the Loan Document in which such reference appears; (iii) the term “including” is by way of example and not limitation; and (iv) the term “documents” includes any and all instruments, documents, agreements, certificates, notices, reports, financial statements and other writings, however evidenced, whether in physical or electronic form.

                            (c)     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.”

                            (d)     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.

                    1.3  Accounting Terms.

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

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

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the approval of Lender); 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) Borrower shall provide to Lender 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.

                    1.4     Rounding.  Any financial ratios required to be maintained by any Loan Party 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).

                    1.5     References to Agreements and Laws.  Unless otherwise expressly provided herein, (a) references to Organization Documents, agreements (including the Loan Documents) and other contractual instruments shall be deemed to include all subsequent amendments, restatements, extensions, supplements and other modifications thereto, but only to the extent that such amendments, restatements, extensions, supplements and other modifications are not prohibited by any Loan Document; and (b) references to any Law shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such Law.

                    1.6     Letter of Credit Amounts.  Unless otherwise specified, all references herein to the amount of a Letter of Credit at any time shall be deemed to mean the maximum face amount of such Letter of Credit after giving effect to all increases thereof contemplated by such Letter of Credit or the Letter of Credit Application therefor, whether or not such maximum face amount is in effect at such time.

           2.     THE COMMITMENTS AND CREDIT EXTENSIONS; REVOLVING CREDIT LOAN AND TERM LOANS.

                    2.1     Revolving Credit Loan; Revolving Commitment.  From the Closing Date and prior to the Revolving Credit Maturity Date, Lender agrees to provide a Revolving Credit Loan to Borrower, the amount of which shall not exceed the aggregate of, at any one time outstanding, Two Million Dollars ($2,000,000), as reduced from time to time.  Within the limits of the Revolving Commitment, and subject to other terms and conditions hereof or as may be imposed by the Autoborrow Agreement, Borrower may borrow under this Section 2.1, prepay under Section 2.5 and reborrow under this Section 2.1.

                             (a)     Revolving Credit.  This is a revolving line of credit.  Borrower may repay principal amounts and reborrow them.  

                             (b)     Maximum Borrowings.  Borrower agrees not to permit the principal balance outstanding to exceed the Revolving Commitment.  If Borrower exceeds the Revolving Commitment, Borrower will immediately pay the excess to Lender with interest to accrue at the Default Rate.  

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                            (c)     L/C Obligations.  After giving effect to any Revolving Credit Borrowings, the Outstanding Amount of the Revolving Credit Loan plus the outstanding amount of all L/C Obligations shall not exceed Lender’s Revolving Commitment.

                            (d)     Interest Payments.  Borrower will pay interest beginning on March 31, 2006, and on the last day of each June, September, December and March thereafter (each an “Interest Payment Date”), and ending on the Maturity Date, at which time the Outstanding Amount of the Revolving Credit Loan, and the Total Outstandings, including all accrued and unpaid interest, shall be due and payable in full.

                            (e)     Interest Rate.  The interest rate applicable to the Revolving Credit Loan will be the rate per annum equal to, as elected by Borrower in accordance with Section 2.4 hereof, (i) LIBOR plus three percent (3.00%) or (ii) Lender’s Base Rate.

                    2.2    Term Loans.

                            (a)    Term A Loan.

                                     (i)     Loan Amount.  Lender agrees to provide a Term A Loan to Borrower in the amount of Ten Million Dollars ($10,000,000).  The Term A Loan is available in one disbursement from Lender on or after the Closing Date and prior to February 28, 2006, so long as (i) the proceeds of the Term A Loan are used to pay the purchase price of that certain Acquisition set forth on Schedule 2 attached hereto and (ii) Borrower delivers to Lender a certificate confirming that the minimum EBITDA described on Schedule 2 attached hereto has been achieved.  The Term A Loan, or a portion thereof, represents the Loans existing under the Existing Credit Agreement.

                                    (ii)    Repayment Terms.

                                             (A)     Borrower will pay interest on the Term A Loan beginning on March 31, 2006, and on the last day of each June, September, December and March thereafter (each, an “Interest Payment Date”), and ending on the Term A Loan Maturity Date.

                                              (B)     Borrower will repay principal on the Term A Loan in installments as follows:  Two Hundred Fifty Thousand Dollars ($250,000) on March 31, 2006 and on June 30, 2006; Five Hundred Thousand Dollars ($500,000) on September 30, 2006 and on December 31, 2006; and Seven Hundred Fifty Thousand Dollars ($750,000), on the last day of each March, June, September, and December thereafter, and ending on the Term A Loan Maturity Date, on which date Borrower will repay the Outstanding Amount on the Term A Loan, and the Total Outstandings, including all accrued and unpaid interest.

                                     (iii)     Prepayment Term.  Borrower may prepay the Term A Loan in full or in part at any time after the Term B Loan has been paid in full.  Any prepayment will be applied to the most remote payment of principal due under this Agreement.

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                                     (iv)     Interest Rate.  The interest rate applicable to the Term Loans will be the rate per annum equal to, as elected by Borrower in accordance with Section 2.4 hereof, (i) LIBOR plus three percent (3.00%) or (ii) Lender’s Base Rate.

                            (b)     Term B Loan.

                                     (i)     Loan Amount.  Lender agrees to provide a Term B Loan in the amount of Six Million Dollars ($6,000,000).  The Term B Loan is available in one disbursement from Lender on or after the Closing Date and prior to February 28, 2006, so long as (i) the proceeds of the Term B Loan are used to pay the purchase price of that certain Acquisition set forth on Schedule 2 attached hereto and (ii) Borrower delivers to Lender a certificate confirming that the minimum EBITDA described on Schedule 2 attached hereto has been achieved.

                                     (ii)     Repayment Terms.  Borrower will pay interest on the Term B Loan beginning on March 31, 2006, and on the last day of each June, September, December and March thereafter (each, an “Interest Payment Date”), and ending on the Term B Loan Maturity Date.

                                     (iii)     Prepayment Term.  Borrower may prepay the Term B Loan in full or in part at any time.

                                     (iv)     Interest Rate.  The interest rate applicable to the Term B Loan will be the rate per year annum to, as elected by Borrower in accordance with Section 2.4 hereof, (i) LIBOR plus three percent (3.00%) or (ii) Lender’s Base Rate.

                    2.3     Letters of Credit.

                            (a)     The
Letter of Credit Commitment.

                                     (i)     Subject to the terms and conditions set forth herein, including, without limitation, the requirements of Section 4.2, Lender agrees from time to time on any Business Day during the period from the Closing Date until the Revolving Credit Maturity Date, to issue Letters of Credit for the account of Borrower or any of its Subsidiaries, and to amend or renew Letters of Credit previously issued by it, in accordance with subsection (b) below; provided, however, that Lender shall not be obligated to issue any Letter of Credit if as of the date of such issuance, (y) the Total Outstandings under the Revolving Commitment (including the requested L/C Credit Extension) would exceed
the Revolving Commitment, or (z) the Outstanding Amount of the L/C Obligations would exceed the Letter of Credit Sublimit.  Within the foregoing limits, and subject to the terms and conditions hereof, Borrower’s ability to obtain Letters of Credit shall be fully revolving, and accordingly, Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed.

                                     (ii)     Lender shall be under no obligation to issue any Letter of Credit if:

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

                                               (B)     the expiry date of such requested Letter of Credit would occur more than twelve (12) months after the date of issuance or last renewal;

                                               (C)     the expiry date of such requested Letter of Credit would occur after the Revolving Credit Maturity Date;

                                               (D)     the issuance of such Letter of Credit would violate one or more policies of Lender; or 

                                               (E)     such Letter of Credit is in an initial amount less than One Hundred Thousand Dollars ($100,000), in the case of a commercial Letter of Credit, or Two Hundred Fifty Thousand Dollars ($250,000), in the case of a standby Letter of Credit, or is to used for a purpose other than those purposes described at Section 6.11 or be denominated in a currency other than Dollars.

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

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

                                     (i)     Each Letter of Credit shall be issued or amended, as the case may be, upon the request of Borrower delivered to Lender in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of Borrower.  Such Letter of Credit Application must be received by Lender not later than 11:00 a.m., Atlanta time, at least two Business Days (or such later date and time as Lender may agree in a particular instance in its sole discretion) prior to the proposed issuance date or date of amendment, as the case may be.

                                     (ii)     Promptly after receipt of any Letter of Credit Application by Lender at the address set forth in Schedule 9.2 for receiving Letter of Credit Applications and related correspondence, if the requested issuance or amendment is permitted in accordance with the terms hereof, then, subject to the terms and conditions hereof, Lender shall, on the requested date, issue a Letter of Credit for the account of Borrower or applicable Subsidiary or enter into the applicable amendment, as the case may be, in each case in accordance with Lender’s usual and customary business practices.

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                                     (iii)     Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, Lender will also deliver to Borrower a true and complete copy of such Letter of Credit or amendment.

                                     (iv)     If Borrower so requests in any applicable Letter of Credit Application, Lender may, in it sole and absolute discretion, agree to issue a Letter of Credit that has automatic renewal provisions (each, an “Auto-Renewal Letter of Credit”); provided that any such Auto-Renewal Letter of Credit must permit Lender to prevent any such renewal at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Nonrenewal Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued.  Unless otherwise directed by 
Lender, Borrower shall not be required to make a specific request to Lender for any such renewal. Lender shall not permit any such renewal if (A) Lender has determined that it would have no obligation at such time to issue such Letter of Credit in its renewed form under the terms hereof or (B) one or more of the applicable conditions specified in Section 4.2 is not then satisfied.  Notwithstanding anything to the contrary contained herein, Lender shall have no obligation to permit the renewal of any Auto-Renewal Letter of Credit at any time.

                            (c)     Drawings and Reimbursements.

                                     (i)     Upon receipt from  the beneficiary of any Letter of Credit of any notice of drawing under such Letter of Credit, Lender shall notify Borrower thereof.  Not later than 11:00 a.m., Atlanta time, on the date of any payment by Lender under a Letter of Credit (each such date, an “Honor Date”), Borrower shall reimburse Lender in an amount equal to the amount of such drawing.  If Borrower fails to so reimburse Lender by such time, Borrower shall be deemed to have requested a Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.4 for the principal amount
of Base Rate Loans, but subject to the amount of the unutilized portion of the Revolving Commitment and the conditions set forth in Section 4.2 (other than the delivery of a Loan Notice).  Any notice given by Lender pursuant to this Section 2.3(c)(i) may be given by telephone if immediately confirmed in writing; provided, however, that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice.

                                     (ii)     With respect to any Unreimbursed Amount that is not fully refinanced by a Borrowing of Base Rate Loans because the conditions set forth in Section 4.2 cannot be satisfied or for any other reason, Borrower shall be deemed to have incurred from Lender an L/C Borrowing in the amount of the Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. 

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

                                     (i)     any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other agreement or instrument relating thereto;

                                     (ii)     the existence of any claim, counterclaim, set-off, defense or other right that Borrower may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), Lender or any other Person, whether in connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction;

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

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

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

Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim of non-compliance with Borrower’s instructions or other irregularity, Borrower will immediately notify Lender.  Borrower shall be conclusively deemed to have waived any such claim against Lender and its correspondents unless such notice is given as aforesaid.

                            (e)     Role of Lender.  Borrower agrees that, in paying any drawing under a Letter of Credit, Lender shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person executing or delivering any such document. Borrower hereby assumes all risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; provided, however, that this assumption is not intended to, and shall not, preclude Borrower’s pursuing such rights and remedies as it may have against the beneficiary or transferee at law
or

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under any other agreement.  Lender, nor any of the respective correspondents, participants or assignees of Lender, shall be liable or responsible for any of the matters described in clauses (i) through (v) of Section 2.3(d); provided, however, that anything in such clauses to the contrary notwithstanding, Borrower may have a claim against Lender, and Lender may be liable to Borrower, to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary, damages suffered by Borrower which Borrower proves were caused by Lender’s willful misconduct or gross negligence or Lender’s willful failure to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of such Letter of Credit.  In furtherance and not in limitation of the foregoing, Lender may accept documents that appear on their face to be in
order, without responsibility for further investigation, regardless of any notice or information to the contrary, and Lender shall not be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason.

                            (f)     Cash Collateral.  Upon the request of Lender, (i) if Lender has honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing, or (ii) if, as of the Letter of Credit Expiration Date, any Letter of Credit may for any reason remain outstanding and partially or wholly undrawn, Borrower shall immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations (in an amount equal to such Outstanding Amount determined as of the date of such L/C Borrowing or the Letter of Credit Expiration Date, as the case may be).  Borrower hereby grants to Lender, as issuer of Letters of Credit, a security interest in all such cash, deposit accounts and all balances therein and all proceeds
of the foregoing.  Cash collateral shall be maintained in blocked, non-interest bearing deposit accounts at Bank of America.

                            (g)     Letter of Credit Fees. Borrower shall pay to Lender a Letter of Credit fee for each Letter of Credit equal to the Commitment Fee times the daily maximum amount available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit).  Such Letter of Credit fees shall be computed on a quarterly basis in arrears, and shall be due and payable on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date, and thereafter on demand.

                            (h)     Applicability of ISP98 and UCP.  Unless otherwise expressly agreed by Lender and Borrower when a Letter of Credit is issued (i) the rules of the “International Standby Practices 1998” published by the Institute of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance) shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce (the “ICC”) at the time of issuance (including the ICC decision published by the Commission on Banking Technique and Practice on April 6, 1998 regarding the European single currency (euro)) shall apply to
each commercial Letter of Credit.

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                            (i)     Conflict with Letter of Credit Application.  In the event of any conflict between the terms hereof and the terms of any Letter of Credit Application, the terms hereof shall control.

                    2.4    Borrowings, Conversions and Continuations of Loans.

                            (a)     Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of LIBOR Loans shall be made upon Borrower’s irrevocable notice to Lender, which may be given by telephone.  Each such notice must be received by Lender not later than 11:00 a.m., Atlanta time, (i) three (3) Business Days prior to the requested date of any Borrowing of, conversion to or continuation of LIBOR Loans or of any conversion of LIBOR Loans to Base Rate Loans, and (ii) on the requested date of any Borrowing of Base Rate Loans; provided, however, that if Borrower requests LIBOR Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period”, the
applicable notice must be received by Lender not later than 11:00 a.m., Atlanta time, four (4) Business Days prior to the requested date of such Borrowing, conversion or continuation.  Not later than 11:00 a.m., Atlanta time, three (3) Business Days before the requested date of such Borrowing, conversion or continuation, Lender shall notify Borrower (which notice may be by telephone) whether or not the requested Interest Period has been accepted by Lender.  Each telephonic notice by Borrower pursuant to this Section 2.4(a) must be promptly by delivery to Lender of a written Loan Notice, appropriately completed and signed by a Responsible Officer of Borrower.  Each Borrowing of, conversion to or continuation of LIBOR Loans shall be in a principal amount of Five Hundred Thousand Dollars ($500,000) or a whole multiple of One Hundred Thousand Dollars ($100,000) in excess thereof.  Each Borrowing of or a conversion to Base Rate Loans shall be in a principal amount of One Hundred
Thousand Dollars ($100,000) or a whole multiple of One Hundred Thousand Dollars ($100,000) in excess thereof.  Each Loan Notice (whether telephonic or written) shall specify (i) whether Borrower is requesting a Borrowing, a conversion of Loans from one Type to the other, or a continuation of LIBOR Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of 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 Borrower fails to specify a Type of Loan in a Loan Notice or if Borrower fails to give a timely notice requesting a conversion or continuation, the applicable Loans shall be made, 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 LIBOR Loans.  If Borrower requests a Borrowing of, conversion to, or continuation of LIBOR Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month.

                            (b)     Except as otherwise provided herein, a LIBOR Loan may be continued or converted only on the last day of an Interest Period for such LIBOR Loan.  During the existence of a Default, no Loans may be requested as, converted to or continued as LIBOR Loans without the consent of Lender.  Further, during the existence of an Event of Default, Lender may demand that any or all of the then outstanding LIBOR Loans be converted immediately to Base Rate Loans and Borrower agrees to pay all amounts due under Section 3.4 in accordance with the terms thereof due to any such conversion.

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                            (c)     Lender shall promptly notify Borrower of the interest rate applicable to any Interest Period for LIBOR Loans upon determination of such interest rate.  The determination of the LIBOR by Lender shall be conclusive in the absence of manifest error.  

                    2.5    Prepayments.  Borrower may, upon notice to Lender, at any time or from time to time voluntarily prepay Loans in whole or in part without premium or penalty; provided that (i) such notice must be received by Lender not later than 11:00 a.m., Atlanta time, (A) three (3) Business Days prior to any date of prepayment of LIBOR Loans, and (B) on the date of prepayment of Base Rate Loans; (ii) any prepayment of LIBOR Loans shall be in a principal amount of Five Hundred Thousand Dollars ($500,000) or a whole multiple of One Hundred Thousand Dollars ($100,000) in excess thereof; and (iii) any prepayment of Base Rate Loans shall be in a principal amount of One Hundred Thousand Dollars ($100,000) or a whole multiple of One Hundred Thousand Dollars ($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 whether such prepayment is to be applied to the Revolving Credit Loan or the Term Loans.  If Borrower specifies the Term Loans, prepayments shall be applied first, to the Term B Loan, until the same has been repaid in full; and second, to the Term A Loan, until the same has been repaid in full.  If such notice is given by Borrower, Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein.  If no notice is given, prepayments shall be applied first, to the Revolving Credit Loan; second, to the Term B Loan and; third, to the Term A Loan.  Any prepayment of a LIBOR Loan shall be accompanied by all accrued interest thereon, together with any additional amounts required pursuant to Section
3.4.

                    2.6    Default Rate.  If any amount payable by Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.  Furthermore, while any Event of Default exists (or after acceleration), Borrower shall pay interest on the principal amount of all outstanding Obligations at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.  Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon
demand.

                    2.7    Interest Payable in Arrears.  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.

                    2.8    Commitment Fees; Lender’s Upfront Fee.

                            (a)     Revolving Commitment Fee.  Borrower shall pay to Lender a commitment fee equal to one half of one percent (0.50%) times the actual daily amount by which the Revolving Commitment (to include the Letter of Credit Sublimit) exceeds the sum of (i) the Outstanding Amount of Revolving Credit Loan and (ii) the Outstanding Amount of L/C

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Obligations.  The commitment fee shall accrue at all times prior to the Revolving Credit Maturity Date, including at any time during which one or more conditions in Article 4 are not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Revolving Credit Maturity Date.  The commitment fee shall be calculated quarterly in arrears.

                            (b)     Lender’s Upfront Fee.  On the Closing Date, Borrower shall pay to Lender an upfront fee in an amount of One Hundred Ninety-Five Thousand Dollars ($195,000).  The upfront fee is for the credit facilities committed by Lender under this Agreement and will be fully earned on the date paid.  The upfront fee paid to Lender is non-refundable for any reason whatsoever.

                            (c)     Term Loan Commitment Fee.  For each day prior to the advance of the Term A Loan and the Term B Loan (or termination of the Commitments with respect thereto),  Borrower shall pay to Lender a commitment fee equal to one half of one percent (0.50%) times the Commitments then outstanding (excluding the Revolving Commitment).  The commitment fee shall be calculated quarterly in arrears on March 31, 2006.

                    2.9    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.  All other computations of interest and all fees shall be made on the basis of a year of 360 days and the actual number of days elapsed.  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.

                    2.10  Payments Generally.

                            (a)     (i)     All payments to be made by Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff.  Except as otherwise expressly provided herein, all payments by Borrower hereunder shall be made to Lender, at Lender’s Office in Dollars and in immediately available funds not later than 5:00 p.m., Atlanta time, on the date specified herein.  All payments received by Lender after 5:00 p.m., Atlanta time shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue.  

                                     (ii)     On each date when the payment of any principal, interest or fees are due hereunder or under any Note, Borrower agrees to maintain on deposit in an ordinary checking account maintained by Borrower with Lender (as such account shall be designated by Borrower in a written notice to Lender from time to time, the “Borrower Account”) an amount sufficient to pay such principal, interest or  fees in full on such date.  Borrower hereby authorizes Lender (A) to deduct automatically all principal, interest or fees when due hereunder or under any Note from Borrower Account, and (B) if and to the extent any payment of principal, interest or fees under this Agreement or any Note is not made
when due to deduct  any such amount from any or all of the accounts of Borrower maintained at Lender.  Lender agrees to provide written notice to Borrower of any automatic deduction made pursuant to this Section 2.10(a)(ii) showing in reasonable detail the amounts of such deduction.  

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                            (b)     If any payment to be made by Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be.

                    2.11  Collateral.  Borrower’s Obligations to Lender under this Agreement will be secured by the Collateral which Borrower or any of the Subsidiaries now or hereafter owns.  The Collateral is defined in the Borrower Security Agreement, the Subsidiary Security Agreement, the Borrower’s Stock Pledge Agreement and the Subsidiary Stock Pledge Agreement.  All Collateral securing this Agreement shall also secure all other present and future obligations of Borrower and each Subsidiary to Lender, and all Collateral securing any other present or future obligation of Borrower or any Subsidiary to Lender shall also secure this Agreement.

                    2.12  Mandatory Repayments.

                            (a)     Asset Sales.  On the first Business Day following the receipt by any Loan Party of net cash proceeds from the sale or disposition of any assets (including by way of casualty or condemnation), and other than asset sales in the ordinary course of business, the Loans shall be repaid by an amount equal to one hundred percent (100%) of such net cash proceeds, together with any accrued interest on the portion of the Loans repaid; provided, however, that with respect to the Subsidiary Sale, no repayment shall be required under this clause (a) with any net cash proceeds thereof in excess of Six Million Dollars ($6,000,000).

                            (b)     Issuance and Incurrence of Indebtedness.  On the first Business Day following the receipt by any Loan Party of net cash proceeds from the issuance or incurrence after the Closing Date of Indebtedness of Borrower other than Indebtedness permitted pursuant to Section 7.1, the Loans shall be repaid by an amount equal to one hundred percent (100%) of such net cash proceeds, together with any accrued interest on the portion of the Loans repaid.

                            (c)     Issuance of Equity Interests.  On the first Business Day following the receipt by any Loan Party of net cash proceeds from the issuance of equity interests of Borrower, the Loans shall be repaid by an amount equal to one hundred percent (100%) of such net cash proceeds, together with any accrued interest on the portion of the Loans repaid; provided, however, that with respect to the issuance of equity interests, no such repayment shall be required (i) if Borrower notifies Lender that such net cash proceeds shall be used contemporaneously to pay all or a portion of the purchase price of an Acquisition permitted pursuant to Section 7.2(a), (g) or (h) hereof; (ii) with respect to proceeds from the exercise of warrants
outstanding as of the date hereof, preferred stock and warrants issued to Lightyear pursuant to the terms of the Guarantee Commitment Letter between Lightyear and Borrower dated as of the date hereof (or the exercise thereof), or options currently outstanding or issued pursuant to employee benefit plans or (iii) with respect to equity issued as payment for services or property.

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All repayments under this Section 2.12 shall be applied first, to the Term B Loan, second, to the Term A Loan, and third to the Revolving Credit Loan, which shall result in a concurrent reduction of the Revolving Commitment.

                    2.13  Renewal Option.  So long as no Default or Event of Default has occurred and is continuing, upon written request by Borrower delivered to Lender no later than sixty (60) days prior to each of the Term A Loan Maturity Date and the Revolving Credit Maturity Date, Lender will determine, in its sole discretion, whether Lender is willing to extend each of the Term A Loan Maturity Date and the Revolving Credit Maturity Date for a period of twelve (12) calendar months from the then current Term A Loan Maturity Date and the Revolving Credit Maturity Date.  Lender shall, no later than fifteen (15) days after receipt of such written request, advise Borrower whether Lender is willing to so extend each of the Term A Loan Maturity Date and the Revolving Credit Maturity Date.  If Lender and Borrower agree to so
extend each of the Term A Loan Maturity Date and the Revolving Credit Maturity Date, such agreement shall be evidenced by appropriate amendments to the Loan Documents, executed by all applicable parties, on terms and conditions similar to those provided herein.

            3.     YIELD PROTECTION AND ILLEGALITY.

                    3.1     Taxes.

                            (a)     Any and all payments by Borrower to or for the account of Lender under any Loan Document shall be made free and clear of and without deduction for any and all present or future taxes, duties, levies, imposts, deductions, assessments, fees, withholdings or similar charges, and all liabilities with respect thereto, excluding taxes imposed on or measured by Lender’s overall net income and franchise taxes imposed on it (in lieu of net income taxes) as a result of a present or former connection between the Lender and the jurisdiction of the Governmental Authority imposing such tax or any political subdivision or taxing authority thereof or therein (other than any such connection arising solely from the Lender having executed, delivered or performed its
obligations or received a payment under, or enforced, this Agreement or any other Loan Document) (all such non-excluded taxes, duties, levies, imposts, deductions, assessments, fees, withholdings or similar charges, and liabilities being hereinafter referred to as “Taxes”).  If Borrower shall be required by any Laws to deduct any Taxes from or in respect of any sum payable under any Loan Document to Lender, (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), Lender receives an amount equal to the sum it would have received had no such deductions been made, (ii) Borrower shall make such deductions, (iii) Borrower shall pay the full amount deducted to the relevant taxation authority or other authority in accordance with applicable Laws, and (iv) within thirty (30) days after the date of such payment, Borrower shall furnish to Lender (which shall forward the same to
such Lender) the original or a certified copy of a receipt evidencing payment thereof; provided, however, that the Borrower shall not be required to increase any such amounts payable to any Lender with respect to any Taxes (i) that are attributable to such Lender’s failure to comply with the requirements of paragraph (e) of this Section or (ii) that are United States withholding taxes imposed on amounts payable to such Lender at the time such Lender becomes a party to this Agreement, except to the extent that such Lender’s assignor (if any) was entitled, at the time of assignment, to receive additional amounts from the Borrower with respect to such Taxes pursuant to this paragraph.

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                            (b)     In addition, Borrower agrees to pay any and all present or future stamp, court or documentary taxes and any other excise or property taxes or charges or similar levies which arise from any payment made under any Loan Document or from the execution, delivery, performance, enforcement or registration of, or otherwise with respect to, any Loan Document (hereinafter referred to as “Other Taxes”).

                            (c)     If Borrower shall be required to deduct or pay any Taxes or Other Taxes from or in respect of any sum payable under any Loan Document to Lender, Borrower shall also pay to Lender, at the time interest is paid, such additional amount that Lender specifies is necessary to preserve the after-tax yield (after payment of all Taxes and Other Taxes) that Lender would have received if such Taxes or Other Taxes had not been imposed.

                            (d)     Borrower agrees to indemnify Lender for (i) the full amount of Taxes and Other Taxes paid by Lender, (ii) amounts payable under Section 3.1(c) and (iii) if Borrower fails to pay any Tax or Other Tax due to any appropriate Governmental Authority any liability (including additions to tax, penalties, interest and expenses) arising therefrom or with respect thereto, in each case whether or not such Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.  Payment under this subsection (d) shall be made within thirty (30) days after the date Lender makes a demand therefor.

                            (e)     Each Lender (or Transferee) that is not a “U.S. Person” as defined in Section 7701(a)(30) of the Code (a “Non-U.S. Lender”) shall deliver to the Borrower two copies of either U.S. Internal Revenue Service Form W-8BEN or Form W-8ECI, or, in the case of a Non-U.S. Lender claiming exemption from U.S. federal withholding tax under Section 871(h) or 881(c) of the Code with respect to payments of “portfolio interest”, a Form W-8BEN, or any subsequent versions thereof or successors thereto, properly completed and duly executed by such Non-U.S. Lender claiming complete exemption from, or a reduced rate of, U.S. federal withholding tax on all payments by the Borrower under this Agreement and the other Loan Documents. 
Such forms shall be delivered by each Non-U.S. Lender on or before the date it becomes a party to this Agreement.  In addition, each Non-U.S. Lender shall deliver such forms promptly upon the obsolescence or invalidity of any form previously delivered by such Non-U.S. Lender.  Each Non-U.S. Lender shall promptly notify the Borrower at any time it determines that it is no longer in a position to provide any previously delivered certificate to the Borrower (or any other form of certification adopted by the U.S. taxing authorities for such purpose).  Notwithstanding any other provision of this paragraph, a Non-U.S. Lender shall not be required to deliver any form pursuant to this paragraph that such Non-U.S. Lender is not legally able to deliver.

                            (f)     If the 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 with respect to which the Borrower has paid additional amounts pursuant to this Section 3.1, it shall pay over such refund to the Borrower (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this Section 3.1 with respect to the Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of such Lender and

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without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided, that the Borrower, upon the request of 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 such Lender in the event such Lender is required to repay such refund to such Governmental Authority. This paragraph shall not be construed to require any Lender to make available its tax returns (or any other information relating to its taxes which it deems confidential) to the Borrower or any other Person, nor shall Lender be obligated to seek any refund.

                    3.2    Illegality.  If Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for Lender to make, maintain or fund LIBOR Loans, or to determine or charge interest rates based upon the LIBOR, then, on notice thereof by Lender to Borrower through Lender, any obligation of Lender to make or continue LIBOR Loans or to convert Base Rate Loans to LIBOR Loans shall be suspended until Lender notifies Lender and Borrower that the circumstances giving rise to such determination no longer exist.  Upon receipt of such notice, Borrower shall, upon demand from Lender prepay or, if applicable, convert all LIBOR Loans of Lender to Base Rate Loans, either on the last day of the Interest Period therefor, if Lender may lawfully continue to maintain such
LIBOR Loans to such day, or immediately, if Lender may not lawfully continue to maintain such LIBOR Loans.  Upon any such prepayment or conversion, Borrower shall also pay accrued interest on the amount so prepaid or converted and all amounts due under Section 3.4 in accordance with the terms thereof due to such prepayment or conversion.  Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and will not, in the good faith judgment of Lender, otherwise be materially disadvantageous to Lender.

                    3.3    Inability to Determine Rates.  If Lender determines in connection with any request for a LIBOR Loan or a conversion to or continuation thereof for any reason that (a) Dollar deposits are not being offered to banks in the London interbank LIBOR market for the applicable amount and Interest Period of such LIBOR Loan, (b) adequate and reasonable means do not exist for determining the LIBOR for any requested Interest Period with respect to a proposed LIBOR Loan, or (c) the LIBOR for any requested Interest Period with respect to a proposed LIBOR Loan does not adequately and fairly reflect the cost to Lender of funding such LIBOR Loan, Lender will promptly so notify Borrower.  Thereafter, the obligation of Lender to make or maintain LIBOR Loans shall be suspended until Lender revokes such
notice.  Upon receipt of such notice, Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of LIBOR Loans or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein.

                    3.4    Increased Cost and Reduced Return; Capital Adequacy; Reserves on LIBOR Loans.

                            (a)     Except with respect to taxes, which shall be governed exclusively by Section 3.1, if Lender determines that as a result of the introduction of or any change in or in the interpretation of any Law, or Lender’s compliance therewith, there shall be any increase in the cost to Lender of agreeing to make or making, funding or maintaining LIBOR Loans or (as the case may be) issuing or participating in Letters of Credit, or a reduction in the amount received or receivable by Lender in connection with any of the foregoing (excluding for purposes

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of this subsection (a) any such increased costs or reduction in amount resulting from reserve requirements utilized, as to LIBOR Loans, in the determination of the LIBOR), then from time to time upon demand of Lender (with a copy of such demand to Lender), Borrower shall pay to Lender such additional amounts as will compensate Lender for such increased cost or reduction.

                            (b)     If Lender determines that the introduction of any Law regarding capital adequacy or any change therein or in the interpretation thereof, or compliance by Lender (or its Lending Office) therewith, has the effect of reducing the rate of return on the capital of Lender or any corporation controlling Lender as a consequence of Lender’s obligations hereunder (taking into consideration its policies with respect to capital adequacy and Lender’s desired return on capital), then from time to time upon demand of Lender, Borrower shall pay to Lender such additional amounts as will compensate Lender for such reduction.

                    3.5     Funding Losses.  Upon demand of Lender from time to time, Borrower shall promptly compensate Lender for and hold 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); or

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

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.  Borrower shall also pay any customary administrative fees charged by Lender in connection with the foregoing.

For purposes of calculating amounts payable by Borrower to Lender under this Section 3.5, Lender shall be deemed to have funded each LIBOR Loan made by it at the LIBOR for such Loan by a matching deposit or other borrowing in the London interbank LIBOR market for a comparable amount and for a comparable period, whether or not such LIBOR Loan was in fact so funded.

                    3.6     Matters Applicable to all Requests for Compensation.  A certificate of Lender claiming compensation under this Article 3 and setting forth the calculation of the additional amount or amounts to be paid to it hereunder shall be conclusive in the absence of manifest error.  In determining such amount, Lender may use any reasonable averaging and attribution methods.

                    3.7     Survival.  All of Borrower’s obligations under this Article 3 shall survive termination of the Revolving Commitment and repayment of all other Obligations hereunder.

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            4.     CONDITIONS OF EFFECTIVENESS.

                    4.1     Conditions of Effectiveness and New Credit Extensions.  The effectiveness of this Agreement and obligation of Lender to make Credit Extensions hereunder is subject to satisfaction of the following conditions precedent:

                            (a)     Lender’s receipt of the following, each of which shall be originals or facsimiles (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party or Lightyear, 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 Lender and its legal counsel:

                                     (i)     executed counterparts of this Agreement, all Collateral Documents, the Subsidiary Guaranty, the Autoborrow Agreement and each other Loan Document, sufficient in number for distribution to Lender and Borrower;

                                     (ii)    a Revolving Credit Loan Note executed by Borrower in favor of Lender;

                                     (iii)   a Term A Loan Note executed by Borrower in favor of Lender;

                                     (iv)    a Term B Loan Note executed by Borrower, in favor of Lender;

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

                                     (vi)    executed counterparts of the Lightyear Guaranty;

                                     (vii)   such documents and certificates as Lender may reasonably require to evidence that each Loan Party and Lightyear is duly organized or formed and that each Loan Party and Lightyear is validly existing, in good standing and qualified to engage in business in each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect;

                                     (viii)  a favorable opinion acceptable to Lender, addressed to Lender, of (i) counsel to the Loan Parties in form substantially similar to the opinion that was delivered to Lender with respect to the Existing Credit Agreement and (ii) counsel to Lightyear, as to such matters concerning the Lightyear Guaranty, each in form and substance satisfactory to Lender and its counsel;

                                     (ix)   a certificate of a Responsible Officer of each Loan Party either (A) attaching copies of all consents, licenses and approvals required in connection with the execution, delivery and performance by such Loan Party and the validity against such Loan Party of the Loan Documents to which it is a party, and such consents, licenses and approvals shall be in full force and effect, or (B) stating that no such consents, licenses or approvals are so required;

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                                     (x)    a certificate signed by a Responsible Officer of Borrower certifying (A) that the conditions specified in Sections 4.2(a) and (b) have been satisfied, and (B) that there has been no event or circumstance since September 30, 2005 that has had or could reasonably be expected to have a Material Adverse Effect, and (C) there has been no material change in the information delivered to Lender regarding Borrower or any other Loan Party;

                                     (xi)    a certificate of a managing director or chief financial officer of Lightyear, together with evidence in form and substance reasonably satisfactory to Lender, certifying that the aggregate “Remaining Capital Commitments” (as such term is defined in the Lightyear Guaranty) of Lightyear are not less than one hundred twenty-five percent (125%) of Lightyear’s total “Indebtedness” (as such term is defined in the Lightyear Guaranty), including, without limitation, its obligations under the Lightyear Guaranty;

                                     (xii)   evidence that all insurance required to be maintained pursuant to the Loan Documents has been obtained and is in effect; and

                                     (xiii)  such other assurances, certificates, documents, consents, evidence of perfection of all Liens securing the Obligations or opinions as Lender reasonably may require.

                            (b)     Lender shall have received and reviewed, and Lender’s counsel shall have reviewed, including, without limitation, information regarding Borrower’s and each other Loan Party’s litigation, tax, accounting, labor, insurance, pension liabilities (actual and contingent), material contracts, senior management employment contracts, client contracts, debt and credit agreements, property ownership, environmental matters, contingent liabilities and management, with results satisfactory to Lender and its counsel.  Additionally, Lender shall have received and reviewed the Audited Financial Statements and financial statements for the most recently completed fiscal quarter preceding the Closing Date (or, in the event that Lender’s due
diligence review reveals material changes since such financial statements, such financial statements dated within forty-five (45) days of the Closing Date).

                            (c)     Lender shall have completed its due diligence investigation of Borrower and its Subsidiaries in scope and with results satisfactory to Lender, including a one-time field examination of Borrower’s assets;

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

                            (e)     Borrower shall have paid all Attorney Costs of Lender to the extent invoiced prior to or on the Closing Date, plus such additional amounts of Attorney Costs as shall constitute its reasonable estimate of Attorney Costs 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 Borrower and Lender).

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                            (f)     Lender shall have received satisfactory evidence that, upon the filing of amendments to UCC financing statements and the Borrower Security Agreement and the Subsidiary Security Agreement in order to perfect Lender’s interests in the Intellectual Property Assets (as hereinafter defined), Lender shall have a perfected security interest in all Collateral and that the security interest and Liens in favor of Lender are valid, enforceable, and prior to all others’ rights and interests except those to which Lender consents in writing.

                            (g)     Lender shall have received satisfactory evidence that Borrower’s obligations under the Junior Note have been converted to preferred equity in Borrower on terms and conditions satisfactory to Lender;

                            (h)     Lender shall have received and reviewed each of the following, in form and substance satisfactory to Lender:

                                      (i)    Lightyear’s audited financial statements for the fiscal years ending December 31, 2003 and December 31, 2004 and financial statements for the three most recently completed fiscal quarters preceding the Closing Date;

                                      (ii)   Lightyear’s general and limited partner capital call commitments; and

                                      (iii)  Lightyear’s partnership investments, including a summary of cost and fair market value.

                            (i)     Lender shall have received satisfactory evidence that key man life insurance has been obtained with respect to Lynn Boggs in an amount not less than Two Million Five Hundred Thousand Dollars ($2,500,000).

                    4.2    Conditions to all Credit Extensions and Conversions and Continuations.  The obligation of Lender to honor any Request for Credit Extension or issue any Letters of Credit is subject to the following conditions precedent:

                            (a)     The representations and warranties of Borrower and each other Loan Party contained in Article 5 or any other Loan Document, or which are contained in any document furnished at any time under or in connection herewith, shall be true and correct in all material respects on and as of the date of such Credit Extension, conversion or continuation, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 4.2, the representations and warranties contained in subsections (a) and (b) of Section 5.5 shall be deemed to refer to the most recent statements furnished pursuant to
clauses (a) and (b), respectively, of Section 6.1.

                            (b)     No Default shall exist, or would result from such proposed Credit Extension, conversion or continuation.

                            (c)     Lender shall have received a Request for Credit Extension in accordance with the requirements hereof.

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                            (d)     Lender shall have received, in form and substance satisfactory to it, such other assurances, certificates, documents or consents related to the foregoing as Lender reasonably may require, and all Liens (other than Liens in favor in Lender) shall have been released and proper documents evidencing such release shall have been recorded in the appropriate offices.

                            (e)     Borrowing would not be in excess of the appropriate Commitment. 

                            (f)     For the first Credit Extension, Lender shall have received a certificate signed by a Responsible Officer of Borrower certifying a calculation of the financial covenants set forth in Section 6.12 as of the last day of the fiscal quarter of Borrower most recently ended prior to the Closing Date, which calculation will show that there is no Default in any financial covenant required hereunder, including calculations showing that (i) Borrower’s EBITDA, calculated for the twelve month period ending on December 31, 2005, is not less than Six Million Seven Hundred Thousand Dollars ($6,700,000) and (ii) EBITDA, described on Schedule 2 attached hereto, calculated for the twelve month period ending on December 31, 2005, after add-backs agreed
to by Borrower and Lender, is not less than the amount set forth on Schedule 2 attached hereto.

                  Each Request for Credit Extension submitted by Borrower shall be deemed to be a representation and warranty that the conditions specified in Sections 4.2(a) and (b) have been satisfied on and as of the date of the applicable Credit Extension.

          5.     REPRESENTATIONS AND WARRANTIES.  Borrower makes the following representations and warranties, which are true and correct as of the date hereof and will be true and correct on the closing date, and will be true and correct as of the date of each credit extension (except as modified in accordance with Section 4.2(a)):

                  5.1     Existence, Qualification and Power; Compliance with Laws.  Each Loan Party (a) is duly organized or formed, validly existing and in good standing under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own its assets and carry on its business and (ii) execute, deliver, and perform its obligations under the Loan Documents to which it is a party, and (c) is duly qualified and is licensed and in good standing under the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification or licenses, except in each case referred to in clause (b)(i) or (c), to the extent that failure to do so could
not reasonably be expected to have a Material Adverse Effect.

                  5.2     Authorization; No Contravention.  The execution, delivery and performance by each Loan Party of each Loan Document to which such Person is party, have been duly authorized by all necessary corporate or other organizational action, and do not and will not (a) contravene the terms of any of such Person’s Organization Documents; (b) conflict with or result in any breach or contravention of, or the creation of any Lien under, (i) any Contractual Obligation to which such Person is a party or (ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject; or (c) violate any Law; provided, for any conflict, breach, or contravention described in subsection (b) to constitute a breach of the representation of this
Section 5.2, such conflict, breach or contravention must be material as to its effect on the Loan, Borrower, any Loan Document, or otherwise.

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                  5.3     Governmental Authorization.  No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against, any Loan Party of this Agreement or any other Loan Document.

                  5.4     Binding Effect.  This Agreement has been, and each other Loan Document, when delivered hereunder, will have been, duly executed and delivered by each Loan Party that is party thereto.  This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is party thereto in accordance with its terms, except as such enforceability may be affected by applicable bankruptcy, insolvency, receivership, reorganization, moratorium, liquidation or other similar Laws.

                  5.5     Financial Statements; No Material Adverse Effect.

                            (a)     The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; (ii) fairly present in all material respects the financial condition of Borrower and its Subsidiaries as of the date thereof and their results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of Borrower and its Subsidiaries as of the date thereof, including liabilities for taxes, material commitments and Indebtedness.

                            (b)     The unaudited consolidated financial statements of Borrower and its Subsidiaries dated September 30, 2005, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for the fiscal quarter ended on that date (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, and (ii) fairly present the financial condition of Borrower and its Subsidiaries as of the date thereof and their results of operations for the period covered thereby, subject in the case of clauses (i) and (ii), to the absence of footnotes and to normal year-end audit adjustments.

                            (c)     Since the date of the Audited Financial Statements, there has been no event or circumstance, either individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect.  

                  5.6     Accounts Receivable.  All accounts receivable of Borrower and each Subsidiary that are reflected on the Audited Financial Statements or unaudited consolidated financial statements of Borrower and its Subsidiaries previously delivered to Lender or on the accounting records of Borrower and its Subsidiaries as of the Closing Date represent or will represent valid obligations arising from sales actually made or services actually performed in the ordinary course of business.  Unless paid prior to the Closing Date, the accounts receivable are or will be as of the Closing Date current and collectible, net of reserves.

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                  5.7     Litigation.  Except as specifically disclosed in Schedule 5.7 hereto, there are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of Borrower after due and diligent investigation, threatened or contemplated, at law, in equity, in arbitration or before any Governmental Authority, by or against Borrower or any of its Subsidiaries or against any of their properties or revenues that (a) purport to affect or pertain to this Agreement or any other Loan Document, or any of the transactions contemplated hereby, or (b) either individually or in the aggregate, if determined adversely, could reasonably be expected to have a Material Adverse Effect.

                  5.8     No Default.  Neither Borrower nor any Subsidiary is in default under or with respect to any Contractual Obligation that could either, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.  No Default has occurred and is continuing or would result from the consummation of the transactions contemplated by this Agreement or any other Loan Document.  There is no event which is, or with notice or the lapse of time, or both, would be, a Default under this Agreement.

                  5.9     Ownership of Property; Liens.

                            (a)     Each of Borrower and each Subsidiary has good record and marketable title in fee simple to, or valid leasehold interests in, all real property necessary or used in the ordinary conduct of its business, except for such defects in title as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

                            (b)     The property of Borrower and its Subsidiaries is subject to no Liens, other than Liens permitted by Section 7.1.

                            (c)     The Liens granted Lender by Borrower and the Subsidiaries, as applicable, constitute valid and enforceable first priority security interests in the Collateral described therein.

                  5.10    Environmental Compliance.  Borrower and its Subsidiaries have conducted a review of the effect of existing Environmental Laws and claims alleging potential liability or responsibility for violation of any Environmental Law on their respective businesses, operations and properties, and as a result thereof Borrower has reasonably concluded that, except as specifically disclosed in Schedule 5.10 hereto, such Environmental Laws and claims could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

                  5.11    Insurance.  The properties of Borrower and its Subsidiaries are insured with financially sound and reputable insurance companies not Affiliates of Borrower, in such amounts, after giving effect to any self-insurance compatible with the following standards, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where Borrower or the applicable Subsidiary operates.  The insurance required by Sections 4.1(a)(ix) and 6.7 is in effect.

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                  5.12    Taxes.  Borrower and its Subsidiaries have filed all Federal, state and other material tax returns and reports required to be filed, and have paid all Federal, state and other material Taxes and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable, except those which are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance with GAAP.  There is no proposed tax assessment against Borrower or any Subsidiary that would, if made, have a Material Adverse Effect.

                  5.13    ERISA Compliance.

                            (a)     Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other Federal or state Laws.  Each Plan that is intended to qualify under Section 401(a) of the Code has received a favorable determination letter from the IRS or an application for such a letter is currently being processed by the IRS with respect thereto and, to the best knowledge of Borrower, nothing has occurred which would prevent, or cause the loss of, such qualification.  Borrower and each ERISA Affiliate have made all required contributions to each Plan subject to Section 412 of the Code.

                            (b)     No application for a funding waiver or an extension of any amortization period pursuant to Section 412 of the Code has been made with respect to any Plan.

                            (c)     There are no pending or, to the best knowledge of Borrower, threatened claims, actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse Effect.  There has been no prohibited transaction or violation of the fiduciary responsibility rules with respect to any Plan that has resulted or could reasonably be expected to result in a Material Adverse Effect.

                            (d)     (i)  No ERISA Event has occurred or is reasonably expected to occur; (ii) no Pension Plan has any Unfunded Pension Liability; (iii) neither Borrower nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability under Title IV of ERISA with respect to any Pension Plan (other than premiums due and not delinquent under Section 4007 of ERISA); (iv) neither Borrower nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability (and no event has occurred which, with the giving of notice under Section 4219 of ERISA, would result in such liability) under Sections 4201 or 4243 of ERISA with respect to a Multiemployer Plan; and (v) neither Borrower nor any ERISA Affiliate has engaged in a transaction that could be
subject to Sections 4069 or 4212(c) of ERISA.

                  5.14    Subsidiaries.  As of the Closing Date, Borrower has no Subsidiaries other than those specifically disclosed in Part (a) of Schedule 5.14 and has no equity investments in any other corporation or entity other than those specifically disclosed in Part(b) of Schedule 5.14.  Each Subsidiary is owned by Borrower or by Borrower and an Affiliate of Borrower, as described on Part (a) of Schedule 5.14.

                  5.15    Disclosure.  Borrower has disclosed to Lender all agreements, instruments and corporate or other restrictions to which it or any of its Subsidiaries is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably be expected to result

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in a Material Adverse Effect.  No report, financial statement, certificate or other information furnished (whether in writing or orally) by or on behalf of any Loan Party in connection with any Loan Document to Lender in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder (as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to state any material fact required to be stated therein or necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading.

                  5.16    Compliance with Laws.  Borrower and each other Loan Party is in compliance in all material respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.

                  5.17    Margin Regulations; Investment Company Act; Public Utility Holding Company Act.

                            (a)     Borrower is not engaged and will not engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock.

                            (b)     None of Borrower, any Person controlling Borrower, or any Subsidiary (i) is a “holding company,” or a “subsidiary company” of a “holding company,” or an “affiliate” of a “holding company” or of a “subsidiary company” of a “holding company,” within the meaning of the Public Utility Holding Company Act of 1935, or (ii) is or is required to be registered as an “investment company” under the Investment Company Act of 1940.

                  5.18    Rights in Collateral; Priority of Liens.  Borrower and each other Loan Party own the property granted by it as Collateral under the Collateral Documents, free and clear of any and all Liens in favor of third parties except for Liens permitted to Section 7.1.  Upon the proper filing of UCC financing statements, and upon filing of the Borrower Security Agreement and Subsidiary Security Agreement in the offices required to perfect Lender’s interest in the Intellectual Property Assets (as hereinafter defined), and the taking of the other actions required by Lender, including release of  the Liens granted pursuant to the Existing Credit Agreement, the liens granted pursuant to the Collateral Documents will constitute valid and enforceable first, prior and perfected Liens on the Collateral in
favor of Lender.

                  5.19    Intellectual Property.

                            (a)     Intellectual Property Assets.  The term “Intellectual Property Assets” includes:

                                     (i)     the name “Private Business, Inc.”, the name of each Subsidiary, all fictional business names used by Borrower or any Subsidiary and all trading names, registered and unregistered trademarks, service marks, and applications of Borrower and the Subsidiaries (collectively, the “Marks”);

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                                     (ii)    all patents, patent applications, and inventions and discoveries that may be patentable of Borrower or any Subsidiary (collectively, the “Patents”);

                                     (iii)   all copyrights in both published works and unpublished works of Borrower and any Subsidiary (collectively, “Copyrights”);

                                     (iv)    all know-how, trade secrets, confidential information, customer lists, software, technical information, data, process technology, plans, drawings, and blue prints of Borrower and each Subsidiary (collectively, “Trade Secrets”); owned, used, or licensed by Borrower or any Subsidiary as licensee or licensor; and

                                     (v)    all general intangibles and all intangible intellectual or similar property of Borrower or any Subsidiary of any kind or nature associated with or arising out of any of the aforementioned properties and assets and not otherwise described above, including all of Borrower’s or any Subsidiary’s websites, domain names, Internet listing and number, rights in applications for any of the foregoing, and anything used or useful in connection with all websites and domain names owned or operated by Borrower (collectively, “Internet Property”).

                            (b)    Agreements.  Schedule 5.19(b) contains a complete and accurate list and summary description, including any royalties paid or received by Borrower or any Subsidiary, of all contracts or other agreements relating to the Intellectual Property Assets to which Borrower or any Subsidiary is a party or by which Borrower or any Subsidiary is bound, except for any license implied by the sale of a product and perpetual, paid-up licenses for commonly available software programs with a value of less than Two Hundred Fifty Thousand ($250,000) under which Borrower or any Subsidiary is the licensee.  There are no outstanding and, to Borrower’s knowledge, no threatened disputes or disagreements with respect to any such agreement or any other
Intellectual Property Asset.

                            (c)    Patents.

                                    (i)     Schedule 5.19(c) contains a complete and accurate list and summary description of all Patents owned by Borrower or any Subsidiary.  Borrower or the applicable Subsidiary is the owner of all right, title, and interest in and to each of the Patents, free and clear of all liens, security interests, charges, encumbrances, entities, and other adverse claims.

                                    (ii)    All of the issued Patents are currently in compliance with formal legal requirements (including payment of filing, examination, and maintenance fees and proofs of working or use), are valid and enforceable, and are not subject to any maintenance fees or taxes or actions falling due within ninety (90) days after the Closing Date.

                                    (iii)   No Patent has been or is now involved in any interference, reissue, reexamination, or opposition proceeding.  To Borrower’s knowledge, there is no potentially interfering patent or patent application of any third party.

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                                    (iv)    No Patent is infringed or, to Borrower’s knowledge, has been challenged or threatened in any way.  None of the products licensed or sold, nor any process or know-how used, by Borrower or any Subsidiary infringes or is alleged to infringe any patent or other proprietary right of any other Person.

                                    (v)    All products licensed, used, or sold under the Patents have been marked with the proper patent notice.

                            (d)    Trademarks.

                                    (i)     Schedule 5.19(d) contains a complete and accurate list and summary description of all Marks owned by Borrower or any Subsidiary.  One or more of Borrower and the Subsidiaries is the owner of all right, title, and interest in and to each of the Marks, free and clear of all liens, security interests, charges, encumbrances, equities, and other adverse claims.

                                    (ii)    All Marks that have been registered with the United States Patent and Trademark Office are currently in compliance with all formal legal requirements (including the timely post-registration filing of affidavits of use and incontestability and renewal applications), are valid and enforceable, and are not subject to any maintenance fees or taxes or actions falling due within ninety (90) days after the Closing Date.

                                    (iii)   No Mark has been or is now involved in any opposition, invalidation, or cancellation and, to Borrower’s knowledge no such action is threatened with the respect to any of the Marks.

                                    (iv)    To Borrower’s knowledge, there is no potentially interfering trademark or trademark application of any third party.

                                    (v)    No Mark is infringed or, to Borrower’s knowledge, has been challenged or threatened in any way.  None of the Marks used by Borrower or any Subsidiary infringes or is alleged to infringe any trade name, trademark, or service mark of any Person.

                                    (vi)    All products and materials containing a Mark bear the proper federal registration notice where permitted by law.

                            (e)    Copyrights.

                                    (i)     Schedule 5.19(e) contains a complete and accurate list and summary description of all Copyrights owned by Borrower or any Subsidiary.  One or more of Borrower or a Subsidiary is the owner of all right, title, and interest in and to each of the Copyrights, free and clear of all liens, security interests, charges, encumbrances, equities, and other adverse claims.

                                    (ii)    All the Copyrights have been registered and are currently in compliance with formal legal requirements, are valid and enforceable, and are not subject to any maintenance fees or taxes or actions falling due within ninety (90) days after the date of Closing.

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                                    (iii)   No Copyright is infringed or, to Borrower’s knowledge, has been challenged or threatened in any way.  None of the subject matter of any of the Copyrights infringes or is alleged to infringe any copyright of any third party or is a derivative work based on the work of any other Person.

                                    (iv)    All works encompassed by the Copyrights have been marked with the proper copyright notice.

                            (f)    Trade Secrets.

                                    (i)     With respect to each Trade Secret, the documentation relating to such Trade Secret is current, accurate, and sufficient in detail and content to identify and explain it and to allow its full and proper use without reliance on the knowledge or memory of any individual.

                                    (ii)    Borrower has taken all reasonable precautions to protect the secrecy, confidentiality, and value of its Trade Secrets.

                                    (iii)    One or more of Borrower or a Subsidiary has good title and an absolute (but not necessarily exclusive) right to use the Trade Secrets.  The Trade Secrets are not part of the public knowledge or literature, and, to Borrower’s knowledge, have not been used, divulged, or appropriated either for the benefit of any Person (other than Borrower or one or more of the Subsidiaries) or to the detriment of Borrower.  No Trade Secret is subject to any adverse claim or has been challenged or threatened in any way.

                            (g)     Internet Property.

                                    (i)     Schedule 5.19(g) contains a complete and accurate list and summary description of all Internet Property owned by Borrower or any Subsidiary.  One or more of Borrower or a Subsidiary is the owner of all right, title, and interest in and to each of the Internet Properties, free and clear of all liens, security interests, charges, encumbrances, equities, and other adverse claims.

                                    (ii)    Each of the Internet Properties have been registered with Network Solutions Inc. or the Internet Corporation for Assigned Names and Numbers or other domain registrar.

                                    (iii)   No Internet Property is infringed or, to Borrower’s knowledge, has been challenged or threatened in any way.

                  5.20    Location of Borrower.  The principal place of business of Borrower and its chief executive office is located at the address listed under Borrower’s signature on this Agreement, and Borrower is organized under the Laws of the State of Tennessee.  Schedule 5.20 contains a list of each Subsidiary’s place of business and chief executive office, including the addresses, and each Subsidiary is organized under the Laws of the State described by such Subsidiary’s signature on this Agreement.

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                  5.21    Use of Proceeds.  The proceeds from the Revolving Credit Loan and Term Loans shall be used only as permitted under the provisions of Section 6.11.

                  5.22    Solvent Financial Condition.  Borrower is now and, after giving effect to the Loans to be made hereunder, at all times will be, solvent.

                  5.23    Labor Disputes; Acts of God.  Except as set forth on Schedule 5.23 hereto, or as otherwise disclosed in writing to Lender, neither Borrower nor any Subsidiary is a party to any collective bargaining agreement and, as of the date hereof, there are no material grievances, disputes or controversies with any union or any other organization of Borrower’s or any Subsidiary’s employees, or threats of strikes, work stoppages or any asserted pending demands for collective bargaining by any union or organization. Neither the business nor the property of Borrower and its Subsidiaries are affected by any fire, explosion, accident, drought, storm, hail, earthquake, embargo, act of God or of the public enemy, or other casualty (whether or not covered by insurance) which would have a Material Adverse
Effect.

                  5.24    Interest Rate Hedging.  No later than five (5) Business Days after the date of the Subsidiary Sale, Borrower shall enter into or continue in effect one or more Swap Contracts (with average initial terms of at least two (2) years) or, if earlier, until the Term A Loan Maturity Date) with respect to the interest obligations on (or otherwise secure fixed rates of interest on) not less than Six Million Dollars ($6,000,000) of the principal amount of the Term A Loan outstanding from time to time.  Such Swap Contracts shall provide interest rate protection in conformity with International Swap Dealers Association standards for an average period of at least two (2) years from the date of such Swap Contracts or, if earlier, until the Term A Loan Maturity Date, on terms acceptable to Lender in a commercially
reasonable manner, such terms to include consideration of the creditworthiness of the other party to the proposed Swap Contracts.  All Obligations of Borrower to Lender (or any Affiliate of Lender) pursuant to any Swap Contracts and all Liens granted to secure such Obligations shall rank pari passu with the principal amount of the Loans hereunder and Liens securing such other Obligations up to the then effective aggregate amount of the Loans and Commitments; and any Swap Contracts between Borrower and any other Person shall be unsecured.

          6.     AFFIRMATIVE COVENANTS.  So long as the Revolving Commitment is outstanding, the Revolving Credit Loan or the Term Loans or other Obligations shall remain unpaid or unsatisfied, or any L/C Obligations shall remain outstanding, Borrower shall, and (except in the case of the covenants set forth in Sections 6.1, 6.2, 6.3 and 6.12) cause each Subsidiary to:

                  6.1     Financial Statements.  Deliver to Lender, in form and detail satisfactory to Lender:

                            (a)     as soon as available, but in any event within ninety (90) days after the end of each fiscal year of Borrower, a consolidated balance sheet of Borrower and its Subsidiaries as at the end of such fiscal year, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of an independent 

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certified public accountant of nationally recognized standing reasonably acceptable to Lender, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit; and

                            (b)     as soon as available, but in any event within forty-five (45) days after the end of each of the first three fiscal quarters of each fiscal year of Borrower, a consolidated balance sheet of Borrower and its Subsidiaries as at the end of such fiscal quarter, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal quarter and for the portion of Borrower’s fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal year, all in reasonable detail and certified by a Responsible Officer of Borrower as fairly presenting the financial condition, results
of operations, shareholders equity and cash flows of Borrower and its Subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes.

                  6.2     Certificates; Other Information.  Deliver to Lender, in form and detail satisfactory to Lender:

                            (a)     concurrently with the delivery of the financial statements referred to in Section 6.1(a), a certificate of its independent certified public accountants certifying such financial statements and, if requested by Lender, a certificate stating that in making the examination necessary therefor no knowledge was obtained of any Default or, if any such Default shall exist, stating the nature and status of such event;

                            (b)     concurrently with the delivery of the financial statements referred to in Sections 6.1(a) and (b), a duly completed Compliance Certificate signed by a Responsible Officer of Borrower;

                            (c)     copies of any audit reports, management letters or recommendations submitted to the board of directors (or the audit committee of the board of directors) of Borrower by independent accountants in connection with the accounts or books of Borrower or any Subsidiary, or any audit of any of them;

                            (d)     promptly after the same are available, copies of each annual report, proxy or financial statement or other report or communication sent to the stockholders of Borrower, and copies of all annual, regular, periodic and special reports and registration statements which Borrower may file or be required to file with the Securities and Exchange Commission under Section 13 or 15(d) of the Securities Exchange Act of 1934, and not otherwise required to be delivered to Lender pursuant hereto; and

                            (e)     promptly such additional information regarding the business, financial or corporate affairs of Borrower or any Subsidiary, or compliance with the terms of the Loan Documents, as Lender may from time to time reasonably request.

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                  6.3     Notices.  Promptly notify Lender:

                            (a)     of the occurrence of any Default;

                            (b)     of any matter that has resulted or could reasonably be expected to result in a Material Adverse Effect, including each of the following events (to the extent that any such event could be reasonably be expected to result in a Material Adverse Effect):  (i) breach or non-performance of, or any default under, a Contractual Obligation of Borrower or any Subsidiary; (ii) any dispute, litigation, investigation, proceeding or suspension between Borrower or any Subsidiary and any Governmental Authority; (iii) the commencement of, or any material development in, any litigation or proceeding affecting Borrower or any Subsidiary, including pursuant to any applicable Environmental Laws or other Laws, and including any litigation over the Threshold Amount
involving Borrower or any Subsidiary; or (iv) any contingent liabilities of Borrower or any Subsidiary or threatened liability of Borrower or any Subsidiary;

                            (c)     the occurrence of any ERISA Event;

                            (d)     of any material change in accounting policies or financial reporting practices by Borrower or any Subsidiary; and

                            (e)     of any change in Borrower’s or any Subsidiary’s name, legal structure, place of business, chief executive office or jurisdiction of its organization.

                  Each notice pursuant to this Section shall be accompanied by a statement of a Responsible Officer of Borrower setting forth details of the occurrence referred to therein and, if applicable, stating what action Borrower has taken and proposes to take with respect thereto.  Each notice pursuant to Section 6.3(a) shall describe with particularity any and all provisions of this Agreement and any other Loan Document that have been breached.

                  6.4     Payment of Obligations.  Pay and discharge as the same shall become due and payable, all its obligations and liabilities, including (a) all tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained by Borrower or such Subsidiary; (b) all lawful claims which, if unpaid, would by law become a Lien upon its property; and (c) all Indebtedness, as and when due and payable, but subject to any subordination provisions contained in any instrument or agreement evidencing such Indebtedness.

                  6.5     Preservation of Existence, Etc.  (a) Preserve, renew and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its organization, except in a transaction permitted by Section 7.4 or 7.5; (b) take all reasonable action to maintain all rights, privileges, permits, licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) preserve or renew all of its material patents, trademarks, trade names, service marks, and trade secrets.

                  6.6     Maintenance of Properties.  (a) Maintain, preserve and protect all Collateral and all of its material properties and equipment necessary in the operation of its business in good working order and condition, ordinary wear and tear excepted; (b) make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) use the standard of care typical in the industry in the operation and maintenance of its facilities.

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                  6.7     Maintenance of Insurance.  Maintain with financially sound and reputable insurance companies not Affiliates of Borrower, insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, to include casualty insurance and business interruption insurance, of such types and in such amounts (after giving effect to any self-insurance compatible with the following standards) as are customarily carried under similar circumstances by such other Persons and providing for not less than thirty (30) days’ prior notice to Lender of termination, lapse or cancellation of such insurance.

                  6.8     Compliance with Laws.  Comply in all material respects with the requirements of all Laws, specifically including all Laws and regulatory requirements for OSHA, the Environmental Protection Agency, the Pension Guaranty Benefit Board, and ERISA, and all orders, writs, injunctions and decrees applicable to it or to its business or property, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted; or (b) the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect.

                  6.9     Books and Records.

                            (a)     Maintain proper books of record and account, in which full, true and correct entries in conformity with GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of Borrower or such Subsidiary, as the case may be; and maintain such books of record and account in material conformity with all applicable requirements of any Governmental Authority having regulatory jurisdiction over Borrower or such Subsidiary, as the case may be.

                            (b)     Borrower shall maintain at all times books and records pertaining to the Collateral in such detail, form and scope as Lender shall reasonably require.

                  6.10   Inspection Rights.  Permit representatives and independent contractors of Lender to visit and inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its directors, officers, and independent public accountants, all at the expense of Borrower and at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to Borrower; provided, however, that when a Default exists Lender (or any of its respective representatives or independent contractors) may do any of the foregoing at the expense of Borrower at any time during normal business hours and without advance notice.

                  6.11   Use of Proceeds.  Use the proceeds of the Credit Extensions for refinancing of certain existing Indebtedness; for working capital; for capital expenditures (as allowed by this Agreement); for Acquisitions permitted pursuant to Section 7.2(g) or (h) hereof; and for other lawful corporate purposes.  No use of the proceeds may be made in contravention of any Law or of any Loan Document and no proceeds may be used to make payments on the Term B Loan.

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                  6.12   Financial Covenants.  Deliver a Compliance Certificate to Lender certifying the following:

                            (a)     Funded Debt to EBITDA Ratio.  Maintain on a consolidated basis a ratio of Funded Debt to EBITDA not exceeding (i) 2.00:1.00 for the period from the Closing Date to and until the Term B Loan Maturity Date and (ii) 1.75:1.00 thereafter to and until the later of the Term A Loan Maturity Date and the Revolving Credit Maturity Date.

This ratio will be calculated (x) at the end of each fiscal quarter for which this Agreement requires Borrower to deliver financial statements, using the results of the twelve-month period ending with that fiscal quarter and (y) on the date of any Credit Extension, using EBITDA for the most recent period and Funded Debt after giving pro forma effect to such Credit Extension.

                            (b)     Fixed Charge Coverage Ratio.  Maintain on a consolidated basis a Fixed Charge Coverage Ratio as specified with respect to the periods set forth below:

	
   
 	
  
PERIOD
  	
   
 	
  
FIXED CHARGE COVERAGE   RATIO
  
	
   
  	
  

  	
  
 
  	
  

  
	
  
 
  	
  
Closing Date   through March 31, 2006
  	
  
 
  	
  
2.40 to 1.00
  
	
  
 
  	
  
April 1,   2006 through June 30, 2006
  	
  
 
  	
  
1.75 to 1.00
  
	
  
 
  	
  
July 1, 2006   through September 30, 2006
  	
  
 
  	
  
1.50 to 1.00
  
	
  
 
  	
  
October 1,   2006 through December 31, 2006
  	
  
 
  	
  
1.30 to 1.00
  
	
  
 
  	
  
January 1,   2007 and thereafter
  	
  
 
  	
  
1.60 to 1.00
  

The current portion of long-term liabilities will be measured as of the last day of  such fiscal quarter.

                            (c)     Capital Expenditures.  Not spend or incur obligations (including the total amount of any capital leases and software development expenses) to acquire fixed assets (other than any KVI Equipment) having a value of more than Two Million Five Hundred Thousand Dollars ($2,500,000)during any twelve (12) month period ending with each fiscal quarter, to and until the later of the Term A Loan Maturity Date and the Revolving Credit Maturity Date.

                  6.13   Additional Subsidiaries.  Notify Lender at the time that any Person becomes a Subsidiary, and promptly thereafter (and in any event within thirty (30) days), cause such Person to (a) become a Guarantor by executing and delivering Lender a counterpart of the Guaranty or such other document as Lender shall deem appropriate for such purpose, and (b) deliver to Lender documents of the types referred to in clauses (iv) and (v) of Section 4.1(a) and if requested by  Lender as to such Person, favorable opinions of counsel to such Person (which shall cover, among other things, the legality, validity, binding effect and enforceability of the documentation executed by such Subsidiary) all in form, content and scope reasonably satisfactory to Lender.

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                  6.14   Collateral Records.  Execute and deliver promptly to Lender, from time to time, solely for Lender’s convenience in maintaining a record of the Collateral, such written statements and schedules as Lender may reasonably require designating, identifying or describing the Collateral.  The failure by Borrower or any other Loan Party, however, to promptly give Lender such statements or schedules shall not affect, diminish, modify or otherwise limit the Liens on the Collateral granted pursuant to the Collateral Documents.

                  6.15   Security Interests.  Defend the Collateral against all claims and demands of all Persons at any time claiming the same or any interest therein.  Borrower shall, and shall cause each other Loan Party to, comply with the requirements of all state and federal laws in order to grant to Lender valid and perfected first priority security interests in the Collateral, with perfection, in the case of any investment property or deposit account, being effected by giving Lender control of such investment property or deposit account, in addition to the filing of a UCC financing statement with respect to such investment property.  Lender is hereby authorized by Borrower to file any UCC financing statements covering the Collateral whether or not Borrower’s signatures appear thereon.  Borrower shall, and shall
cause each other Loan Party, to do whatever Lender may reasonably request, from time to time, to effect the purposes of this Agreement and the other Loan Documents, including filing notices of liens, UCC financing statements, fixture filings and amendments, renewals and continuations thereof; cooperating with Lender’s representatives; keeping stock records; obtaining waivers from landlords and mortgagees and from warehousemen and their landlords and mortgages; and, paying claims which might, if unpaid, become a Lien on the Collateral.

                  6.16   Notice of Litigation, Claims, Etc.  Give notice to Lender of all material claims and demands of Persons at any time, including claims and demands of Governmental Authority, pertaining to any material litigation or threatened claim.

                  6.17   Lender as Principal Depository.  Maintain Lender as its and their principal depository bank, including for the maintenance of business, cash management, operating and administrative deposit accounts.

                  6.18   Key Man Life Insurance.  Within thirty (30) days following the Closing Date, Borrower shall obtain (and provide evidence thereof to Lender) key man life insurance with respect to Lynn Boggs in an aggregate amount of not less than Five Million Dollars ($5,000,000).

          7.     NEGATIVE COVENANTS.  So long as the Revolving Commitment is outstanding or so long as either Loan or other Obligation shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, Borrower shall not, nor shall it permit any Subsidiary to, directly or indirectly:

                  7.1     Liens.  Create, incur, assume or suffer to exist, any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, other than the following: 

                            (a)     Liens pursuant to any Loan Document;

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                            (b)     Liens existing on the date hereof and listed on Schedule 7.1 hereto and any renewals or extensions thereof; provided that the property covered thereby is not increased and any renewal or extension of the obligations secured or benefited thereby is permitted by Section 7.3(b);

                            (c)     Liens for taxes not yet due or which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP;

                            (d)     Mechanics’, materialmen’s, repairmen’s or other like Liens arising in the ordinary course of business which are not overdue for a period of more than 30 days or which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP;

                            (e)     Pledges or deposits in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other social security legislation, other than any Lien imposed by ERISA;

                            (f)     Deposits to secure the performance of bids, trade contracts and leases (other than Indebtedness), statutory obligations, surety bonds (other than bonds related to judgments or litigation), performance bonds and other obligations of a like nature incurred in the ordinary course of business;

                            (g)     Easements, rights-of-way, restrictions and other similar encumbrances affecting real property which, in the aggregate, are not substantial in amount, and which do not in any case materially detract from the value of the property subject thereto or materially interfere with the ordinary conduct of the business of the applicable Person;

                            (h)     Liens securing judgments for the payment of money not constituting an Event of Default under Section 8.1(h) or securing appeal or other surety bonds relating to such judgments; and

                            (i)     Liens securing Indebtedness permitted under Section 7.3(e); provided that (i) such Liens do not at any time encumber any property other than the property financed by such Indebtedness and (ii) the Indebtedness secured thereby does not exceed the cost or fair market value, whichever is lower, of the property being acquired on the date of acquisition.

                  7.2     Investments and Acquisitions.  Make any Investments, except:

                            (a)     Investments in entities acquired by Borrower in businesses substantially the same as those lines of business conducted by Borrower and its Subsidiaries on the date hereof; provided that such Investment or Investments, on an annual basis, do not exceed a total aggregate consideration (to include payments in the form of non-competition agreements, consulting agreements and similar payments) of Five Hundred Thousand Dollars ($500,000) without the prior written consent of Lender.

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                            (b)     Investments held by Borrower or such Subsidiary in the form of cash equivalents or short-term marketable debt securities;

                            (c)     advances to officers, directors and employees of Borrower and Subsidiaries in an aggregate amount not to exceed One Hundred Thousand Dollars ($100,000) at any time outstanding, for travel, entertainment, relocation and analogous ordinary business purposes;

                            (d)     Investments of Borrower in any wholly-owned Subsidiary and Investments of any wholly-owned Subsidiary in Borrower or in another wholly-owned Subsidiary;

                            (e)     Investments consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors to the extent reasonably necessary in order to prevent or limit loss;

                            (f)     Guarantees permitted by Section 7.3; 

                            (g)     any Acquisitions listed on Schedule 2 attached hereto, so long as Borrower is in pro forma compliance with all covenants in Article 6 and Article 7 hereof after giving effect to such Acquisitions and no Default or Event of Default shall exist and be continuing immediately before or immediately after giving effect thereto; and

                            (h)     other Acquisitions, as approved by Lender.

                  7.3     Indebtedness.  Create, incur, assume or suffer to exist any Indebtedness, except:

                            (a)     Indebtedness under the Loan Documents;

                            (b)     Indebtedness outstanding on the date hereof and listed on Schedule 7.3 hereto and any refinancings, refundings, renewals or extensions thereof; provided that the amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing and by an amount equal to any existing commitments unutilized thereunder;

                            (c)     Guarantees of Borrower or any Subsidiary in respect of Indebtedness otherwise permitted hereunder of Borrower or any Subsidiary;

                            (d)     Obligations (contingent or otherwise) of Borrower or any Subsidiary existing or arising under any Swap Contract; provided that (i) such obligations are (or were) entered into by such Person in the ordinary course of business for the purpose of directly mitigating risks associated with liabilities, commitments, investments, assets, or property held or reasonably anticipated by such Person, or changes in the value of securities issued by such Person and not for purposes of speculation or taking a “market view;” and (ii) such Swap Contract does not contain any provision exonerating the non-defaulting party from its obligation to make payments on outstanding transactions to the defaulting party;

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                            (e)     capital lease obligations assumed in connection with Investments or Acquisitions permitted pursuant to Section 7.2 hereof, in an aggregate principal amount not to exceed One Million Five Hundred Thousand Dollars ($1,500,000) at any time;

                            (f)     unsecured seller financing incurred in connection with Investments or Acquisitions permitted pursuant to Section 7.2 hereof, so long as no Default exists or would be caused thereby, the Term B Loan has been paid in full and is no longer outstanding and all terms and conditions (including subordination) thereof have been approved by Lender;

                            (g)     an unsecured obligation to pay the deferred purchase price pursuant to an earnout in connection with the acquisition of KVI, calculated in accordance with such acquisition agreement and the related documents as in effect on the date hereof;

                            (h)     Indebtedness of Borrower to any Subsidiary or of any Subsidiary to Borrower or any other Subsidiary;

                            (i)     other unsecured Indebtedness with an aggregate principal amount outstanding, when added to Indebtedness incurred pursuant to Section 7.3(b), not to exceed Five Hundred Thousand Dollars ($500,000) at any time; and

                            (j)     KVI Loans.

                  7.4     Fundamental Changes.  Merge, dissolve, liquidate, cease to do business or suspend normal business operations, consolidate with or into, another Person, or Dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, except that, so long as no Default exists or would result therefrom:

                            (a)     upon not less than five (5) days written notice to Lender, any Subsidiary may merge with (i) Borrower; provided that Borrower shall be the continuing or surviving Person, or (ii) any one or more other Subsidiaries; provided that when any wholly-owned Subsidiary is merging with another Subsidiary, the wholly-owned Subsidiary shall be the continuing or surviving Person; and

                            (b)     upon not less than five (5) days written notice to Lender, any Subsidiary may dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise) to Borrower or to another Subsidiary; provided that if the transferor in such a transaction is a wholly-owned Subsidiary, then the transferee must also be a wholly-owned Subsidiary, and; provided, further, that if the transferor of such assets is a Loan Party, the transferee thereof must either be Borrower or another Loan Party.

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                  7.5     Dispositions.  Make any Disposition or enter into any agreement to make any Disposition, except:

                            (a)     Dispositions of obsolete or worn out property, whether now owned or hereafter acquired, in the ordinary course of business;

                            (b)     Dispositions of equipment to the extent that (i) such property is exchanged for credit against the purchase price of similar replacement property, or (ii) the proceeds of such Disposition are reasonably promptly applied to the purchase price of such replacement property;

                            (c)     Dispositions of property by any Subsidiary to Borrower or to a wholly-owned Subsidiary; provided that if the transferor of such property is a Loan Party, the transferee thereof must either be Borrower or another Loan Party;

                            (d)     Dispositions permitted by Section 7.4;

                            (e)     the Subsidiary Sale; and

                            (f)     the lease of KVI Equipment to third parties in the ordinary course of business of KVI.

provided, however, that any Disposition pursuant to clauses (a) through (d) shall be for fair market value.

                  7.6     Restricted Payments.  Declare or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except that:

                            (a)     on or after January 23, 2008, Borrower may make payments of cash dividends payable on the Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock (as defined in Borrower’s Organization Documents); provided, that no Default exists as of the date of payment and such payment will not cause a Default;

                            (b)     each Subsidiary may make Restricted Payments to Borrower and to any other Subsidiary of Borrower; and

                            (c)     Borrower and each Subsidiary may declare and make dividend payments or other distributions (i) payable solely on the common stock or other common equity interests of such Person and (ii) payable solely in shares of Borrower’s Series A Preferred Stock or Series C Preferred Stock to existing holders of such designations of stock.

                  7.7     Change in Nature of Business.  Engage in any material line of business substantially different from those lines of business conducted by Borrower and its Subsidiaries on the date hereof or otherwise change the nature of Borrower’s business.

                  7.8     Transactions with Affiliates.  Enter into any transaction of any kind with any Affiliate of Borrower, whether or not in the ordinary course of business, other than on fair and reasonable terms substantially as favorable to Borrower or such Subsidiary as would be obtainable by Borrower or such Subsidiary at the time in a comparable arm’s length transaction with a Person other than an Affiliate; provided that the foregoing restriction shall not apply to transactions between or among Borrower and any of its wholly-owned Subsidiaries or between and among any wholly-owned Subsidiaries.

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                  7.9     Margin Regulations.  Use the proceeds of any Credit Extension, whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System of the United States) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally incurred for such purpose.

          8.     EVENTS OF DEFAULT AND REMEDIES.

                  8.1     Events of Default.  Any of the following shall constitute an Event of Default:

                            (a)     Non-Payment.  Borrower or any other Loan Party fails to pay within five days after the same becomes due, (i) any amount of principal of any Loan, or any L/C Obligation, or (ii) any interest on any Loan or on any L/C Obligation, or any commitment or other fee due hereunder, or (iii) any other amount payable hereunder or under any other Loan Document; or

                            (b)     Specific Covenants.  Borrower fails to perform or observe any term, covenant or agreement contained in any of Section 6.1, 6.2, 6.3, 6.5 6.10, 6.11, 6.12, or Article 7.

                            (c)     Other Defaults.  Any Loan Party fails to perform or observe any other covenant or agreement (not specified in subsection (a) or (b) above) contained herein or in any Loan Document on its part to be performed or observed and such failure continues for thirty (30) days or any default or event of default occurs under any other Loan Document; provided that Borrower shall have thirty (30) days after notice by Lender to cure any such Default that is subject to being cured in such time period and which does not have a material effect on the Loan  or any Collateral; or

                            (d)     Representations and Warranties.  Any representation, warranty, certification or statement of fact made or deemed made by or on behalf of Borrower or any other Loan Party herein, in any other Loan Document, or in any document delivered in connection herewith or therewith shall be incorrect or misleading in any material respect when made or deemed made; or

                            (e)     Cross-Default.  (i) Borrower or any Subsidiary fails to make any payment  in excess of the Threshold Amount when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts), or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which Borrower or any Subsidiary is the Defaulting Party (as defined in such Swap Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to which Borrower or any Subsidiary is an Affected Party (as so defined) and, in
either event, the Swap Termination Value owed by Borrower or such Subsidiary as a result thereof is greater than the Threshold Amount; or

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                            (f)     Insolvency Proceedings, Etc.  Any Loan Party, any of its Subsidiaries or Lightyear institutes or consents to the institution of any proceeding under any Debtor Relief Law, 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 material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for sixty (60) calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any
material part of its property is instituted without the consent of such Person and continues undismissed or unstayed for sixty (60) calendar days, or an order for relief is entered in any such proceeding; or

                            (g)     Inability to Pay Debts; Attachment.  (i) Borrower or any Subsidiary becomes unable or admits in writing its inability or fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part of the property of any such Person and is not released, vacated or fully bonded within thirty (30) days after its issue or levy; or

                            (h)     Litigation; Judgments.  There is entered against Borrower or any Subsidiary (i) a final judgment or order for the payment of money in an aggregate amount exceeding the Threshold Amount (to the extent not covered by independent third-party insurance as to which the insurer does not dispute coverage), or (ii) any one or more non-monetary final judgments that have, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case, (A) enforcement proceedings are commenced by any creditor upon such judgment or order, or (B) there is a period of thirty (30) consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect;
or

                            (i)     ERISA.  (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or could reasonably be expected to result in liability of Borrower under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of the Threshold Amount, or (ii) Borrower or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount in excess of the Threshold Amount; or

                            (j)     Invalidity of Loan Documents.  Any Loan Document, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or satisfaction in full of all the Obligations, ceases to be in full force and effect; or any Loan Party or any other Person contests in any manner the validity or enforceability of any Loan Document; or any Loan Party denies that it has any or further liability or obligation under any Loan Document, or purports to revoke, terminate or rescind any Loan Document, or any Lien with respect to any material portion of the Collateral intended to be secured thereby ceases to be, or, subject to Section 7.1, is not, valid, perfected and prior to all other Liens  or is terminated, revoked
or declared void; or

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                            (k)     Change of Control.  There occurs any Change of Control with respect to Borrower;

                            (l)     Material Adverse Effect.  There occurs any event or circumstance that has a Material Adverse Effect; or

                            (m)     Lightyear.  Lightyear fails to perform or observe any term, covenant, or agreement contained in Sections 8(b) or 9 of the Lightyear Guaranty.

                  8.2     Remedies Upon Event of Default.  If any Event of Default occurs and is continuing, Lender may take any or all of the following actions:

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

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

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

                            (d)     exercise all rights and remedies available to it under the Loan Documents or applicable law;

provided, however, that upon the occurrence of an actual or deemed entry of an order for relief with respect to Borrower under the Bankruptcy Code of the United States, the obligation of Lender to make Loans and any obligation of Lender to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of Borrower to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case without further act of Lender.

                  8.3     Application of Funds.  After the exercise of remedies provided for in Section 8.2 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.2), any amounts received on account of the Obligations shall be applied by Lender in the following order:

                           First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including Attorney Costs and amounts payable under Article 3) payable to Lender;

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                           Second, to payment of that portion of the Obligations constituting accrued and unpaid interest on the Loans and L/C Borrowings;

                           Third, to payment of that portion of the Obligations constituting unpaid principal of the Loans and L/C Borrowings;

                           Fourth, to Lender, to Cash Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit; and

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

Subject to Section 2.3(c), amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fourth above shall be applied to satisfy drawings under such Letters of Credit as they occur.  If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in the order set forth above.

          9.     MISCELLANEOUS.

                  9.1     Amendments, Etc.  No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by Borrower or any other Loan Party therefrom, shall be effective unless in writing signed by Lender and Borrower or the applicable Loan Party, as the case may be, and acknowledged by Lender, and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.

                  9.2     Notices and Other Communications; Facsimile Copies.

                            (a)     General.  Unless otherwise expressly provided herein, all notices and other communications provided for hereunder shall be in writing (including by facsimile transmission).  All such written notices shall be mailed, faxed or delivered, to the applicable address, facsimile number or (subject to subsection (c) below) electronic mail address, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, specified for such Person on Schedule 9.2 or to such other address, facsimile number, electronic mail address or telephone number as shall be designated by such party in a notice to the other parties.  All such notices and other communications
shall be deemed to be given or made upon the earlier to occur of (i) actual receipt by the relevant party hereto and (ii) (A) if delivered by hand or by courier, upon delivery; (B) if delivered by mail, four Business Days after deposit in the mails, postage prepaid; (C) if delivered by facsimile, when sent and  the sender has received electronic confirmation of error free receipt; and (D) if delivered by electronic mail (which form of delivery is subject to the provisions of subsection (c) below), when delivered; provided, however, that notices and other communications to Lender pursuant to Article 2 shall not be effective until actually received by Lender.  In no event shall a voicemail message be effective as a notice, communication or confirmation hereunder.

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                            (b)     Effectiveness of Facsimile Documents and Signatures.  Loan Documents may be transmitted and/or signed by facsimile.  The effectiveness of any such documents and signatures shall, subject to applicable Law, have the same force and effect as manually-signed originals and shall be binding on all Loan Parties and Lender.  Lender may also require that any such documents and signatures be confirmed by a manually-signed original thereof; provided, however, that the failure to request or deliver the same shall not limit the effectiveness of any facsimile document or signature.

                            (c)     Limited Use of Electronic Mail.  Electronic mail and internet and intranet websites may be used only to distribute routine communications, such as financial statements, and to distribute Loan Documents for execution by the parties thereto, and may not be used for any other purpose.

                            (d)     Reliance by Lender.  Lender shall be entitled to rely and act upon any notices (including telephonic Loan Notices) purportedly given by or on behalf of Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof.  All telephonic notices to and other communications with Lender may be recorded by Lender, and each of the parties hereto hereby consents to such recording.

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

                  9.4     Attorney Costs, Expenses and Taxes.  Borrower agrees (a) to pay or reimburse Lender for all reasonable costs and expenses incurred in connection with the development, preparation, negotiation and execution of this Agreement and the other Loan Documents and any amendment, waiver, consent or other modification of the provisions hereof and thereof (whether or not the transactions contemplated hereby or thereby are consummated), and the consummation and administration of the transactions contemplated hereby and thereby, including all Attorney Costs, and (b) to pay or reimburse Lender for all reasonable costs and expenses incurred in connection with the enforcement, attempted enforcement, or preservation of any rights or remedies under this Agreement or the other Loan Documents (including all such costs and
expenses incurred during any “workout” or restructuring in respect of the Obligations and during any legal proceeding, including any proceeding under any Debtor Relief Law), including all Attorney Costs.  The foregoing costs and expenses shall include all search, filing, recording, title insurance and appraisal charges and fees and taxes related thereto, and other out-of-pocket expenses incurred by Lender and the cost of independent public accountants and other outside experts retained by Lender.  The agreements in this Section shall survive the termination of the Commitments and repayment of all other Obligations.

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                  9.5     Indemnification by Borrower.  Whether or not the transactions contemplated hereby are consummated, Borrower shall indemnify and hold harmless Lender and its Affiliates, directors, officers, employees, counsel, and attorneys-in-fact (collectively the “Indemnitees”) from and against any and all liabilities, obligations, losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses and disbursements (including Attorney Costs) of any kind or nature whatsoever which may at any time be imposed on, incurred by or asserted against any such Indemnitee in any way relating to or arising out of or in connection with (a) the execution, delivery, enforcement, performance or administration of any Loan Document or any other agreement, letter or instrument delivered in connection with the
transactions contemplated thereby or the consummation of the transactions contemplated thereby, (b) the Commitment, Loans or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by Lender to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (c) any actual or alleged presence or release of Hazardous Materials on or from any property currently or formerly owned or operated by Borrower, any Subsidiary or any other Loan Party, or any Environmental Liability related in any way to Borrower, any Subsidiary or any other Loan Party, or (d) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory (including any investigation of, preparation for, or defense of any pending or threatened claim, investigation, litigation or proceeding) and regardless of
whether Indemnitee is a party thereto (all the foregoing, collectively, the “Indemnified Liabilities”); provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such liabilities, obligations, losses, damages, penalties, claims, demand, actions, judgments, suits, costs, expenses or disbursements are determined by a court of competent jurisdiction by final and non-appealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee.  No Indemnitee shall have any liability for any indirect or consequential damages relating to this Agreement or any other Loan Document or arising out of its activities in connection herewith or therewith (whether before or after the Closing Date).  The agreements in this Section shall survive the termination of the Commitments and the repayment, satisfaction or discharge of all the other Obligations.  All amounts due under this Section 9.5 shall be payable within
ten (10) Business Days after demand therefor.

                  9.6     Payments Set Aside.  To the extent that any payment by or on behalf of Borrower is made to Lender, or Lender exercises its right of set-off, and such payment or the proceeds of such set-off 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 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 set-off had not occurred, and (b) Borrower severally agrees to pay to Lender upon demand
its applicable share of any amount so recovered from or repaid by Lender, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the Base Rate from time to time in effect.

                  9.7     Successors and Assigns.  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 Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of Lender.  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 and, to the extent expressly contemplated hereby, the Indemnitees) any legal or equitable right, remedy or claim under or by reason of this Agreement.

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                  9.8     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 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 Borrower.  In determining whether the interest contracted for, charged, or received by 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.

                  9.9     Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

                  9.10   Integration.  This Agreement, together with the other Loan Documents, comprises the complete and integrated agreement of the parties on the subject matter hereof and thereof and supersedes all prior agreements, written or oral, on such subject matter.  In the event of any conflict between the provisions of this Agreement and those of any other Loan Document, the provisions of this Agreement shall control; provided that the inclusion of supplemental rights or remedies in favor of Lender in any other Loan Document shall not be deemed a conflict with this Agreement.  Each Loan Document was drafted with the joint participation of the respective parties thereto and shall be construed neither against nor in favor of any party, but rather in accordance with the fair meaning thereof.

                  9.11   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 Lender, regardless of any investigation made by Lender or on their behalf and notwithstanding that Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding.

                  9.12   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.

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                  9.13   Governing Law; Submission to Jurisdiction.  

                            (a)     THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF GEORGIA APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE; PROVIDED THAT LENDER SHALL RETAIN ALL RIGHTS ARISING UNDER FEDERAL LAW.

                            (b)     ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF GEORGIA SITTING IN ATLANTA, GEORGIA OR OF THE UNITED STATES FOR THE NORTHERN DISTRICT OF SUCH STATE, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT, BORROWER AND LENDER CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS.  BORROWER AND LENDER IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF ANY LOAN DOCUMENT OR OTHER DOCUMENT RELATED THERETO.  BORROWER AND LENDER WAIVES
PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS, WHICH MAY BE MADE BY ANY OTHER MEANS PERMITTED BY THE LAW OF SUCH STATE.

                  9.14   Waiver of Right to Trial by Jury.  EACH PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY LOAN DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT
TO TRIAL BY JURY.

                  9.15   Arbitration.

                            (a)     This paragraph concerns the resolution of any controversies or claims between Borrower and the Lender, whether arising in contract, tort or by statute, including but not limited to controversies or claims that arise out of or relate to: (i) this Agreement (including any renewals, extensions or modifications); or (ii) any document related to this Agreement (collectively a “Claim”).

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                            (b)     At the request of Borrower or the Lender, any Claim shall be resolved by binding arbitration in accordance with the Federal Arbitration Act (Title 9, U. S. Code) (the “Act”).  The Act will apply even though this Agreement provides that it is governed by the law of a specified state.

                            (c)     Arbitration proceedings will be determined in accordance with the Act, the applicable rules and procedures for the arbitration of disputes of JAMS or any successor thereof (“JAMS”), and the terms of this paragraph.  In the event of any inconsistency, the terms of this paragraph shall control.

                            (d)     The arbitration shall be administered by JAMS and conducted in Atlanta, Georgia.  All Claims shall be determined by one arbitrator; however, if Claims exceed Five Million Dollars ($5,000,000), upon the request of any party, the Claims shall be decided by three arbitrators.  All arbitration hearings shall commence within ninety (90) days of the demand for arbitration and close within ninety (90) days of commencement and the award of the arbitrator(s) shall be issued within thirty (30) days of the close of the hearing.  However, the arbitrator(s), upon a showing of good cause, may extend the commencement of the hearing for up to an additional sixty (60) days. The arbitrator(s) shall provide a concise written statement of reasons for the
award.  The arbitration award may be submitted to any court having jurisdiction to be confirmed and enforced.

                            (e)     The arbitrator(s) will have the authority to decide whether any Claim is barred by the statute of limitations and, if so, to dismiss the arbitration on that basis. For purposes of the application of the statute of limitations, the service on JAMS under applicable JAMS rules of a notice of Claim is the equivalent of the filing of a lawsuit.  Any dispute concerning this arbitration provision or whether a Claim is arbitral shall be determined by the arbitrator(s).  The arbitrator(s) shall have the power to award legal fees pursuant to the terms of this Agreement.

                            (f)     This paragraph does not limit the right of Borrower or the Lender to: (i)  exercise self-help remedies, such as but not limited to, setoff; (ii) initiate judicial or non-judicial foreclosure against any real or personal property collateral; (iii) exercise any judicial or power of sale rights, or (iv)  act in a court of law to obtain an interim remedy, such as but not limited to, injunctive relief, writ of possession or appointment of a receiver, or additional or supplementary remedies.

                  9.16   Confidentiality.  The Lender shall not disclose any non-public information obtained pursuant to the requirements of this Agreement other than disclosures reasonably required by any bona fide assignee, transferee or participant in connection with the contemplated assignment or transfer by the Lender of any Loans or any participations therein and other than disclosures required by a Governmental Authority or pursuant to legal process; provided that, unless specifically prohibited by applicable law or court order, the Lender shall notify Borrower of any request by any Governmental Authority (other than any such request in connection with any examination of the financial condition of such Lender by such Governmental Authority) for disclosure of any such non-public information prior to disclosure of such
information.

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                  9.17   Time of the Essence.  Time is of the essence in each of the Loan Documents.

                  9.18   Existing Credit Agreement; Effectiveness of Amendment and Closing.  Until this Agreement becomes effective in accordance with the conditions set forth in Section 4.1, the Existing Credit Agreement shall remain in full force and effect and shall not be affected hereby.  After the Closing Date, all obligations of Borrower and the Subsidiaries under the Existing Credit Agreement shall become obligations of Borrower and the Subsidiaries hereunder, secured by the Collateral Documents, and the provisions of the Existing Credit Agreement shall be superseded by the provisions hereof; provided, that (i) the Existing Credit Agreement shall continue to apply to all events, circumstances and periods arising or existing prior to the Closing Date and (ii) the effectiveness of this Agreement shall not be deemed to
be a waiver of or consent to any default or other violation of the terms of the Existing Credit Agreement or other Loan Documents occurring or existing prior to the Closing Date.

                  9.19   Confirmation/Ratification of the Revolving Credit Loan and Term Loans.  Borrower hereby agrees that, as of the Closing Date, it is fully and truly indebted to the Lender for the full amount of the Loans stated herein.  Furthermore, without limiting any of the other provisions of this Agreement, Borrower and the Lender agree that (i) the loans made to Borrower by the Lender shall be subject to and shall benefit from all of the provisions of this Agreement and the other Loan Documents applicable to the Loans hereunder and thereunder, and (ii) the unpaid principal of and interest on the Loans are “Obligations” hereunder and under the other Loan Documents.

                  9.20   Effect of Amendment and Closing of the Existing Credit Agreement.  (a)  On the Closing Date, the Existing Credit Agreement shall be amended and restated in its entirety.  The parties hereto acknowledge and agree that (a) this Agreement and the other Loan Documents, whether executed and delivered in connection herewith or otherwise, do not constitute a novation, payment and reborrowing, or termination of the “Obligations” (as defined in the Existing Credit Agreement) under the Existing Credit Agreement as in effect prior to the Closing Date and which remain outstanding; (b) such “Obligations” are in all respects continuing (as amended and restated hereby); (c) the Liens and security interests as granted under the Collateral Documents securing payment of such “Obl

igations” are
in all respects continuing and in full force and effect; (d) references in the Loan Documents to the “Credit Agreement” shall be deemed to be references to this Agreement, and to the extent necessary to effect the foregoing, each such Loan Document is hereby deemed amended accordingly, (e) all of the terms and provisions of the Existing Credit Agreement shall continue to apply for the period prior to the Closing Date, including any determinations of payment dates, interest rates, Events of Default or any amount that may be payable to the Lender (or its assignees or replacements hereunder), (f) the obligations under the Existing Credit Agreement shall continue to be paid or prepaid on or prior to the Closing Date, and shall from and after the Closing Date continue to be owing and be subject to the terms of this Agreement, (f) all references in the Loan Documents to “Lender” shall mean such terms as defined in this Agreement.

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                            (b)     Borrower and the Lender and the other parties hereto acknowledge and agree that all principal, interest, fees, costs, reimbursable expenses and indemnification obligations accruing or arising under or in connection with the Existing Credit Agreement which remain unpaid and outstanding as of the Closing Date shall be and remain outstanding and payable as an obligation under this Agreement and the other Loan Documents. 

                  9.21   Existing Agreements Superseded.  As set forth herein, the Existing Credit Agreement is superseded by this Agreement, which has been executed in renewal, amendment, restatement and modification, but not in novation or extinguishment of, the obligations under the Existing Credit Agreement.

                  9.22   USA PATRIOT Act Notice.  The Lender is subject to the Act (as hereinafter defined) and hereby notifies Borrower  and each other Loan Party 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 Borrower and each other Loan Party, which information includes the name and address of each Loan Party and other information that will allow the Lender to identify each Loan Party in accordance with the Act.

                  9.23   Reproduction of Documents.  This Agreement and all other Loan Documents, including, without limitation, (a) consents, waivers and modifications which may hereafter be executed, (b) documents delivered on the Closing Date, and (c) financial statements, certificates and other information previously or hereafter furnished, may be reproduced by the Lender by any photographic, photostatic, microfilm, micro card, miniature photographic or other similar process and the Lender may destroy any original document so reproduced.  Each Loan Party agrees and stipulates that any such reproduction shall be admissible in evidence as the original itself in any judicial or administrative proceeding (whether or not the original is in existence and whether or not such reproduction was made in the regular course of business) and that
any enlargement, facsimile or further reproduction of such reproduction shall likewise be admissible in evidence.

                  9.24   Headings.  The Article and Section headings set forth herein are for convenience only and are not part of the text hereof.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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

	
  
 
  	
  
PRIVATE BUSINESS, INC., 
  
	
  
 
  	
  
as Borrower
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
/s/ J. Scott   Craighead
  
	
  
 
  	
  
 
  	
  

  
	
   
  	
  
Name:
  	
  
J. Scott   Craighead
  
	
  
 
  	
  
Title:
  	
  
CFO
  
	
  
 
  	
  
 
  	
  
 
  

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BANK OF AMERICA, N.A., 
  
	
  
 
  	
  
as Lender
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
/s/ Philip   Potter
  
	
   
  	
   
  	
  

  
	
   
  	
  Name:
  	
  Philip   Potter
  
	
   
  	
  Title:
  	
  Vice   President
  

- 65 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00096-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00096-of-00352.parquet"}]]