Document:

Exhibit
      10.1

     

    
      

      

    

     

     

    
      $175,000,000

      CREDIT
        AGREEMENT

       

       

      dated
        as of

       

       

      March
        27, 2007

       

       

      among

       

       

      GETTY
        REALTY CORP.,

       

       

      The
        Lenders Party Hereto

       

       

      and

       

       

      JPMORGAN
        CHASE BANK, N.A.,

      as
        Administrative Agent

       

      CHARTER
        ONE BANK, N.A., 

      as
        Syndication Agent

       

       

      ___________________________

       

      J.P.
        MORGAN SECURITIES INC.,

      as
        Sole Bookrunner and Sole Lead Arranger

    

     

     

    
      

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    TABLE
      OF CONTENTS

     

    
      
        	
                ARTICLE
                  I.

              	 	 
	
                Definitions

              	
                1

              
	 	 	
                
                   

                

              
	
                Section
                  1.01

              	
                Defined
                  Terms

              	
                1

              
	
                Section
                  1.02

              	
                Classification
                  of Loans and Borrowings

              	
                16

              
	
                Section
                  1.03

              	
                Terms
                  Generally

              	
                16

              
	
                Section
                  1.04

              	
                Accounting
                  Terms; GAAP

              	
                17

              
	 	 	 
	
                ARTICLE
                  II.

              	 	
                 

              
	
                The
                  Credits

              	
                17

              
	 	 	 
	
                Section
                  2.01

              	
                Commitments

              	
                17

              
	
                Section
                  2.02

              	
                Loans
                  and Borrowings

              	
                18

              
	
                Section
                  2.03

              	
                Requests
                  for Revolving Borrowings

              	
                18

              
	
                Section
                  2.04

              	
                Increase
                  in Commitments

              	
                19

              
	
                Section
                  2.05

              	
                Swingline
                  Loans

              	
                20

              
	
                Section
                  2.06

              	
                Letters
                  of Credit

              	
                21

              
	
                Section
                  2.07

              	
                Funding
                  of Borrowings

              	
                25

              
	
                Section
                  2.08

              	
                Interest
                  Elections

              	
                26

              
	
                Section
                  2.09

              	
                Termination
                  and Reduction of Commitments

              	
                27

              
	
                Section
                  2.10

              	
                Repayment of
                  Loans; Evidence of Debt

              	
                27

              
	
                Section
                  2.11

              	
                Prepayment
                  of Loans

              	
                28

              
	
                Section
                  2.12

              	
                Fees

              	
                29

              
	
                Section
                  2.13

              	
                Interest

              	
                30

              
	
                Section
                  2.14

              	
                Alternate
                  Rate of Interest

              	
                31

              
	
                Section
                  2.15

              	
                Increased
                  Costs

              	
                31

              
	
                Section
                  2.16

              	
                Break
                  Funding Payments

              	
                32

              
	
                Section
                  2.17

              	
                Taxes

              	
                33

              
	
                Section
                  2.18

              	
                Payments
                  Generally; Pro Rata Treatment; Sharing of Set-offs

              	
                34

              
	
                Section
                  2.19

              	
                Mitigation
                  Obligations; Replacement of Lenders

              	
                35

              
	
                Section
                  2.20

              	
                Extension
                  of Maturity Date

              	
                36

              
	 	 	 
	
                ARTICLE
                  III.

              	 	 
	
                Representations
                  and Warranties

              	36
	 	 	 
	
                Section
                  3.01

              	
                Organization;
                  Powers

              	
                37

              
	
                Section
                  3.02

              	
                Authorization;
                  Enforceability

              	
                37

              
	
                Section
                  3.03

              	
                Governmental
                  Approvals; No Conflicts

              	
                37

              
	
                Section
                  3.04

              	
                Financial
                  Condition; No Material Adverse Change

              	
                37

              
	
                Section
                  3.05

              	
                Properties.

              	
                37

              
	
                Section
                  3.06

              	
                No
                  Material Litigation

              	
                38

              
	
                Section
                  3.07

              	
                Compliance
                  with Laws and Agreements

              	
                38

              
	
                Section
                  3.08

              	
                Investment
                  and Holding Company Status

              	
                38

              
	
                Section
                  3.09

              	
                Taxes

              	
                38

              
	
                Section
                  3.10

              	
                ERISA

              	
                38

              
	
                Section
                  3.11

              	
                Federal
                  Regulations

              	
                39

              
	
                Section
                  3.12

              	
                Environmental
                  Matters

              	
                39

              
	
                Section
                  3.13

              	
                Insurance

              	
                39

              
	
                Section
                  3.14

              	
                Condition
                  of Properties

              	
                40

              

      

    

     

    
      
        
        

      

      
        i

        
          

        

      

      
        
        

      

       

    

    
      	
              Section
                3.15

            	
              REIT
                Status

            	
              40

            
	
              Section
                3.16

            	
              Disclosure

            	
              40

            
	 	 	 
	
              ARTICLE
                IV.

            	 	 
	
              Conditions

            	40
	 	 	 
	
              Section
                4.01

            	
              Effective
                Date

            	
              40

            
	
              Section
                4.02

            	
              Each
                Credit Event

            	
              42

            
	 	 	 
	
              ARTICLE
                V.

            	 	 
	
              Affirmative
                Covenants

            	42
	 	 	 
	
              Section
                5.01

            	
              Financial
                Statements and Other Information

            	
              42

            
	
              Section
                5.02

            	
              Notices
                of Material Events

            	
              44

            
	
              Section
                5.03

            	
              Existence;
                Conduct of Business; REIT Status

            	
              44

            
	
              Section
                5.04

            	
              Payment
                of Obligations

            	
              44

            
	
              Section
                5.05

            	
              Maintenance
                of Properties; Insurance

            	
              45

            
	
              Section
                5.06

            	
              Books
                and Records; Inspection Rights

            	
              45

            
	
              Section
                5.07

            	
              Compliance
                with Laws

            	
              45

            
	
              Section
                5.08

            	
              Environmental
                Laws

            	
              45

            
	
              Section
                5.09

            	
              Use
                of Proceeds and Letters of Credit

            	
              46

            
	 	 	 
	
              ARTICLE
                VI.

            	 	 
	
              Negative
                Covenants

            	46
	 	 	 
	
              Section
                6.01

            	
              Financial
                Covenants

            	
              46

            
	
              Section
                6.02

            	
              Indebtedness

            	
              47

            
	
              Section
                6.03

            	
              Liens

            	
              47

            
	
              Section
                6.04

            	
              Limitation
                on Certain Fundamental Changes

            	
              48

            
	
              Section
                6.05

            	
              Limitation
                on Restricted Payments

            	
              49

            
	
              Section
                6.06

            	
              Limitation
                on Investments, Loans and Advances

            	
              49

            
	
              Section
                6.07

            	
              Limitation
                on Transactions with Affiliates

            	
              49

            
	
              Section
                6.08

            	
              Limitation
                on Changes in Fiscal Year

            	
              49

            
	
              Section
                6.09

            	
              Limitation
                on Lines of Business; Creation of Subsidiaries; 

            	 
	 	
              Negative
                Pledges

            	
              50

            
	
              Section
                6.10

            	
              Swap
                Agreements

            	
              50

            
	
              Section
                6.11

            	
              Secured
                Recourse Indebtedness

            	
              50

            
	 	 	 
	
              ARTICLE
                VII.

            	 	 
	
              Events
                of Default

            	50
	 	 	 
	
              ARTICLE
                VIII.

            	 	 
	
              The
                Administrative Agent

            	53
	 	 	 
	
              ARTICLE
                IX.

            	 	 
	
              Miscellaneous

            	55
	 	 	 
	
              Section
                9.01

            	
              Notices

            	
              55

            
	
              Section
                9.02

            	
              Waivers;
                Amendments

            	
              56

            
	
              Section
                9.03

            	
              Expenses;
                Indemnity; Damage Waiver

            	
              57

            
	
              Section
                9.04

            	
              Successors
                and Assigns

            	
              58

            

    

     

    
      
        
        

      

      
        ii

        
          

        

      

      
        
        

      

       

      
        	
                Section
                  9.05

              	
                Survival

              	
                61

              
	
                Section
                  9.06

              	
                Counterparts;
                  Integration; Effectiveness

              	
                62

              
	
                Section
                  9.07

              	
                Severability

              	
                62

              
	
                Section
                  9.08

              	
                Right
                  of Setoff

              	
                62

              
	
                Section
                  9.09

              	
                Governing
                  Law; Jurisdiction; Consent to Service of Process

              	
                62

              
	
                Section
                  9.10

              	
                WAIVER
                  OF JURY TRIAL

              	
                63

              
	
                Section
                  9.11

              	
                Headings

              	
                63

              
	
                Section
                  9.12

              	
                Confidentiality

              	
                63

              
	
                Section
                  9.13

              	
                USA
                  PATRIOT Act

              	
                64

              

      

       

       

    

    SCHEDULES:

    

    Schedule
      1.01 -- Eligible Leasehold Property 

    Schedule
      2.01 -- Commitments

    Schedule
      2.06 -- Existing Letters of Credit

    Schedule
      3.06 -- Disclosed Matters

    Schedule
      6.02 -- Existing Indebtedness

    Schedule
      6.03 -- Existing Liens

    Schedule
      7.01 -- Environmental Remediation and Compliance Matters

    

    

    EXHIBITS:

    

    Exhibit
      A
      -- Form of Assignment and Assumption

    Exhibit
      B
      -- Form of Opinion of Borrower's Counsel 

    Exhibit
      C
      -- Form of Subsidiary Guarantee

    Exhibit
      D-1 -- Form of Revolving Note

    Exhibit
      D-2 -- Form of Swingline Note

    Exhibit
      E
      -- Form of Borrowing Request/Interest Election Request

     

    
      
        
        

      

      
        iii

        
          

        

      

      
        
        

      

       

       

       

    

    CREDIT AGREEMENT
      dated as
      of March 27, 2007, among GETTY
      REALTY CORP.,
      a
      Maryland corporation (the “Borrower”), the LENDERS
      party
      hereto, and JPMORGAN
      CHASE BANK, N.A.,
      a
      national banking association, as administrative agent for the Lenders (in such
      capacity, the “Administrative Agent”), CHARTER
      ONE BANK, N.A.,
      a
      national banking association, as syndication agent for the Lenders (in such
      capacity, the “Syndication Agent”).

    

    WHEREAS,
      the
      Company, the lenders named therein (the “Original Lenders”) and JPMorgan Chase
      Bank, N.A., as Administrative Agent, are parties to a Credit Agreement, dated
      as
      of June 30, 2005 (as amended, the “Prior Credit Agreement”) pursuant to which
      the Original Lenders agreed to make Loans (as therein defined) to the
      Borrower.

    

    WHEREAS,
      the
      Borrower has requested that the Prior Credit Agreement be amended and restated
      as hereinafter provided to, among other things, modify the group of
      Lenders;

    

    WHEREAS,
      the
      Administrative Agent and the Lenders are willing to agree to such amendment
      and
      restatement and to extend credit to the Borrower on the terms and conditions
      set
      forth herein.

    

    NOW,
      THEREFORE,
      in
      consideration of the premises and mutual covenants herein contained, the
      Borrower, the Administrative Agent and the Lenders hereby agree that the Prior
      Credit Agreement shall be, and hereby is, amended and restated in its entirety
      and the parties
      hereto agree as follows:

    

    ARTICLE
      I.

     

    Definitions

    

    Section
      1.01  Defined
      Terms.
      As used
      in this Agreement, the following terms have the meanings specified
      below:

    

    “ABR”,
      when
      used in reference to any Loan or Borrowing, refers to whether such Loan, or
      the
      Loans comprising such Borrowing, are bearing interest at a rate determined
      by
      reference to the Alternate Base Rate.

    

    “ABR
      Loans”
means
      Revolving Loans at the rate of interest applicable to which is based upon the
      ABR.

    

    “Adjusted
      LIBO Rate”
means,
      with respect to any Eurodollar Borrowing for any Interest Period, an interest
      rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal
      to
      (a) the LIBO Rate for such Interest Period multiplied by (b) the
      Statutory Reserve Rate.

    

    “Administrative
      Agent”
means
      JPMorgan Chase Bank, N.A., in its capacity as administrative agent for the
      Lenders hereunder. 

    

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

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

       

    

    “Affiliate”
means,
      with respect to a specified Person, another Person that directly, or indirectly
      through one or more intermediaries, Controls or is Controlled by or is under
      common Control with the Person specified.

    

    “Aggregate
      Letters of Credit Outstandings”
means,
      at a particular time, the sum of (a) the aggregate maximum stated amount at
      such
      time which is available or available in the future to be drawn under all
      outstanding Letters of Credit and (b) the aggregate amount of all payments
      made
      by the Lender under any Letter of Credit that has not been reimbursed by the
      Borrower at such time.

    

    “Aggregate
      Outstandings”
means,
      at a particular time, the sum of (a) the Aggregate Letters of Credit
      Outstandings at such time, and (b) the aggregate outstanding principal amount
      of
      all Revolving Loans at such time.

    

    “Agreement”
means
      this Credit Agreement.

    

    “Alternate
      Base Rate”
means,
      for any day, a rate per annum equal to the greatest of (a) the Prime Rate
      in effect on such day, (b) the Base CD Rate in effect on such day
      plus 1% and (c) the Federal Funds Effective Rate in effect on such day
      plus 1⁄2 of 1%. Any change in the Alternate Base Rate due to a change in the
      Prime Rate, the Base CD Rate or the Federal Funds Effective Rate shall be
      effective from and including the effective date of such change in the Prime
      Rate, the Base CD Rate or the Federal Funds Effective Rate, respectively.

    

    “Applicable
      Percentage”
means,
      with respect to any Lender, the percentage of the total Commitments represented
      by such Lender's Commitment. If the Commitments have terminated or expired,
      the
      Applicable Percentages shall be determined based upon the Commitments most
      recently in effect, giving effect to any assignments.

    

    “Applicable
      Rate”
means,
      for any day, with respect to any ABR Loan or Eurodollar Loan, as the case may
      be, the applicable rate per annum set forth below under the caption “ABR Spread”
or “Eurodollar Spread”, as the case may be, based upon the ratio of Total
      Liabilities to Total Asset Value, applicable on such date:

    

    
      	
               

              Total
                Liabilities to Total

              Asset
                Value:

            	
               

              ABR

              Spread

            	
               

              Eurodollar

              Spread

            
	 	 	 
	
              <
                35%

            	
              0.0%

            	
              1.00%

            
	 	 	 
	
              >
                35%
                but < 45%

            	
              0.0%

            	
              1.25%

            
	 	 	 
	
              >
                45%

            	
              0.25%

            	
              1.50%

            

    

    

    “Approved
      Fund”
has
      the
      meaning assigned to such term in Section 9.04.

    

    “Assessment
      Rate”
means,
      for any day, the annual assessment rate in effect on such day that is payable
      by
      a member of the Bank Insurance Fund classified as “well-capitalized” and within
      supervisory subgroup “B” (or a comparable successor risk classification) within
      the meaning of 12 C.F.R. Part 327 (or any successor provision) to the
      Federal Deposit Insurance Corporation for insurance by such Corporation of
      time
      deposits made in dollars at the offices of such member in the United States;
      provided that if, as a result of any change in any law, rule or regulation,
      it
      is no longer possible to determine the Assessment Rate as aforesaid, then the
      Assessment Rate shall be such annual rate as shall be reasonably determined
      by
      the Administrative Agent in good faith to be representative of the cost of
      such
      insurance to the Lenders.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

       

    

    “Assignment
      and Assumption”
means
      an
      assignment and assumption entered into by a Lender and an assignee (with the
      consent of any party whose consent is required by Section 9.04), and
      accepted by the Administrative Agent, in the form of Exhibit A or any other
      form approved by the Administrative Agent and, so long as no Default or Event
      of
      Default shall have occurred and is then continuing, the Borrower.

    

    “Availability
      Period”
means
      the period from and including the Effective Date to but excluding the earlier
      of
      the Maturity Date and the date of termination of the Commitments.

    

    “Base
      CD
      Rate”
means
      the sum of (a) the Three-Month Secondary CD Rate multiplied by the
      Statutory Reserve Rate plus (b) the Assessment Rate. 

    

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

    

    “Borrower”
means
      Getty Realty Corp., a Maryland corporation.

    

    “Borrowing”
means
      (a) Revolving Loans of the same Type, made, converted or continued on the same
      date and, in the case of Eurodollar Loans, as to which a single Interest Period
      is in effect or (b) a Swingline Loan.

    

    “Borrowing
      Request”
means
      a
      request by the Borrower for a Revolving Borrowing in accordance with Section
      2.03.

    

    “Business
      Day”
means
      any day that is not a Saturday, Sunday or other day on which commercial banks
      in
      New York City are authorized or required by law to remain closed; provided
      that,
      when used in connection with a Eurodollar Loan, the term “Business Day” shall
      also exclude any day on which banks are not open for dealings in dollar deposits
      in the London interbank market.

    

    “Capital
      Lease Obligations”
of
      any
      Person means the obligations of such Person to pay rent or other amounts under
      any lease of (or other arrangement conveying the right to use) real or personal
      property, or a combination thereof, which obligations are required to be
      classified and accounted for as capital leases on a balance sheet of such Person
      under GAAP, and the amount of such obligations shall be the capitalized amount
      thereof determined in accordance with GAAP.

    

    “Capital
      Stock”
any
      and
      all shares, interests, participations or other equivalents (however designated)
      of capital stock of a corporation, any and all equivalent ownership interests
      in
      a Person (other than a corporation) and any and all warrants or options to
      purchase any of the foregoing. 

    

    “Cash
      Equivalents”
means
      short-term investments in liquid accounts, such as money-market funds, bankers
      acceptances, certificates of deposit and commercial paper. 

    

    “Change
      in Control”
means
      (a) the acquisition of ownership, directly or indirectly, beneficially or of
      record, by any Person or group (within the meaning of the Securities Exchange
      Act of 1934 and the rules of the SEC thereunder as in effect on the date
      hereof), of Equity Interests representing more than 30% of the aggregate
      ordinary voting power represented by the issued and outstanding Equity Interests
      of the Borrower; or (b) occupation of a majority of the seats (other than vacant
      seats) on the board of directors of the Borrower by Persons who were neither
      (i)
      nominated by the board of directors of the Borrower or by a majority of any
      nominating committee appointed by such board of directors for the purpose of
      nominating directors for election to such board nor (ii) appointed by directors
      so nominated nor (iii) directors on March 27, 2007. 

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

       

    

    “Change
      in Law”
means
      (a) the adoption of any law, rule or regulation after the date of this
      Agreement, (b) any change in any law, rule or regulation or in the
      interpretation or application thereof by any Governmental Authority after the
      date of this Agreement or (c) compliance by any Lender or the Issuing Bank
      (or,
      for purposes of Section 2.15(b), by any lending office of such Lender or by
      such
      Lender's or the Issuing Bank's holding company, if any) with any request,
      guideline or directive (whether or not having the force of law) of any
      Governmental Authority made or issued after the date of this
      Agreement.

    

    “Class”,
      when
      used in reference to any Loan or Borrowing, refers to whether such Loan, or
      the
      Loans comprising such Borrowing, are Revolving Loans or Swingline
      Loans.

    

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

    

    “Commitment”
means,
      with respect to each Lender, the commitment of such Lender to make Revolving
      Loans and to acquire participations in Letters of Credit and Swingline Loans
      hereunder, expressed as an amount representing the maximum aggregate amount
      of
      such Lender's Revolving Credit Exposure hereunder, as such commitment may be
      (a)
      reduced from time to time pursuant to Section 2.09 and (b) reduced or increased
      from time to time pursuant to assignments by or to such Lender pursuant to
      Section 9.04. The initial amount of each Lender's Commitment is set forth on
      Schedule 2.01, or in the Assignment and Assumption pursuant to which such Lender
      shall have assumed its Commitment, as applicable. The initial aggregate amount
      of the Lenders' Commitments is $175,000,000.

    

    “Control”
means
      the possession, directly or indirectly, of the power to direct or cause the
      direction of the management or policies of a Person, whether through the ability
      to exercise voting power, by contract or otherwise. “Controlling” and
“Controlled” have meanings correlative thereto.

    

    “Default”
means
      any event or condition which constitutes an Event of Default or which upon
      notice, lapse of time or both would, unless cured or waived, become an Event
      of
      Default.

    

    “EBITDA”
means
      for any Person or Property, the consolidated net income of such Person and
      its
      Subsidiaries or Property, as the case may be, after deduction for environmental
      expenses (without duplication) and adjusted for straight-line rents, plus income
      taxes, interest, depreciation, amortization and calculated exclusive of (i)
      gains or losses on sales of operating real estate and marketable securities,
      (ii) other extraordinary items and (iii) non-cash impairments taken in
      accordance with GAAP, all determined in accordance with GAAP. 

    

    “EBITDAR”
means,
      for the Borrower and its Subsidiaries, EBITDA plus rent expense of the Borrower
      and its Subsidiaries, all determined on a consolidated basis in accordance
      with
      GAAP. 

    

    “Effective
      Date”
means
      the date on which the conditions specified in Section 4.01 are satisfied
      (or waived in accordance with Section 9.02).

    

    “Eligible
      Ground Lease”
means
      any Property with a ground lease which (a) has a remaining term (including
      any
      renewal options exercisable at the sole option of the lessee) of at least twenty
      (20) years; (b) may be transferred and/or assigned by the lessee either without
      the consent of the lessor or with the consent of the lessor so long as the
      lease
      provides that such consent is not to be unreasonably withheld; (c) contains
      customary lender protection provisions which provide or allow for, without
      the
      consent of the lessor, (i) notice and cure rights, (ii) pledge and mortgage
      of
      the leasehold interest, (iii) recognition of a foreclosure of leasehold
      interests including entering into a new lease with the Lender and (iv) no right
      of landlord to terminate without the consent of lessor’s lender. In addition,
“Eligible Ground Leases” shall include such other Properties with ground leases
      as are, upon Borrower’s request, approved as “Eligible Ground Leases” by the
      Lenders in their sole discretion from time to time.

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

       

    

    “Eligible
      Leasehold Property”
means
      those Properties described in Schedule 1.01, as such Schedule 1.01 may be
      revised by Borrower, from time to time, upon approval by the Lenders.

    

    “Environmental
      Laws”
means
      all laws, rules, regulations, codes, ordinances, orders, decrees, judgments,
      injunctions, notices or binding agreements issued, promulgated or entered into
      by any Governmental Authority, relating in any way to the environment,
      preservation or reclamation of natural resources, the management, release or
      threatened release of any Materials of Environmental Concern.

    

    “Environmental
      Liability”
means
      any liability, contingent or otherwise (including any liability for damages,
      costs of environmental remediation, fines, penalties or indemnities), of the
      Borrower or any Subsidiary 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 Materials of
      Environmental Concern, (c) exposure to any Materials of Environmental
      Concern, (d) the release or threatened release of any Materials of
      Environmental Concern 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.

    

    “Equity
      Interests”
means
      shares of capital stock, partnership interests, membership interests in a
      limited liability company, beneficial interests in a trust or other equity
      ownership interests in a Person, and any warrants, options or other rights
      entitling the holder thereof to purchase or acquire any such equity
      interest.

    

    “ERISA”
means
      the Employee Retirement Income Security Act of 1974, as amended from time to
      time.

    

    “ERISA
      Affiliate”
means
      any trade or business (whether or not incorporated) that, together with the
      Borrower, is treated as a single employer under Section 414(b) or (c) of
      the Code or, solely for purposes of Section 302 of ERISA and Section 412 of
      the
      Code, is treated as a single employer under Section 414 of the
      Code.

    

    “ERISA
      Event”
means
      (a) any “reportable event”, as defined in Section 4043 of ERISA or the
      regulations issued thereunder with respect to a Plan (other than an event for
      which the 30-day notice period is waived); (b) the existence with respect
      to any Plan of an “accumulated funding deficiency” (as defined in
      Section 412 of the Code or Section 302 of ERISA), whether or not
      waived; (c) the filing pursuant to Section 412(d) of the Code or
      Section 303(d) of ERISA of an application for a waiver of the minimum
      funding standard with respect to any Plan; (d) the incurrence by the
      Borrower or any of its ERISA Affiliates of any liability under Title IV of
      ERISA with respect to the termination of any Plan; (e) the receipt by the
      Borrower or any ERISA Affiliate from the PBGC or a plan administrator of any
      notice relating to an intention to terminate any Plan or Plans or to appoint
      a
      trustee to administer any Plan; (f) the incurrence by the Borrower or any of
      its
      ERISA Affiliates of any liability with respect to the withdrawal or partial
      withdrawal from any Plan or Multiemployer Plan; or (g) the receipt by the
      Borrower or any ERISA Affiliate of any notice, or the receipt by any
      Multiemployer Plan from the Borrower or any ERISA Affiliate of any notice,
      concerning the imposition of Withdrawal Liability or a determination that a
      Multiemployer Plan is, or is expected to be, insolvent or in reorganization,
      within the meaning of Title IV of ERISA.

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

       

    

    “Eurodollar”,
      when
      used in reference to any Loan or Borrowing, refers to whether such Loan, or
      the
      Loans comprising such Borrowing, are bearing interest at a rate determined
      by
      reference to the Adjusted LIBO Rate.

    

    “Eurodollar
      Loans”
means
      Revolving Loans, the rate of interest applicable to which is based upon the
      Adjusted LIBO Rate.

    

    “Event
      of Default”
has
      the
      meaning assigned to such term in Article VII.

    

    “Excluded
      Taxes”
means,
      with respect to the Administrative Agent, any Lender, the Issuing Bank or any
      other recipient of any payment to be made by or on account of any obligation
      of
      the Borrower hereunder, (a) income or franchise taxes imposed on (or measured
      by) its net income by the United States of America, or by the jurisdiction
      under
      the laws of which such recipient is organized or in which its principal office
      is located or, in the case of any Lender, in which its applicable lending office
      is located or by another jurisdiction as a result of a present or former
      connection between the Administrative Agent or any Lender and such other
      jurisdiction, (b) any branch profits taxes imposed by the United States of
      America or any similar tax imposed by any other jurisdiction in which the
      Borrower is located and (c) in the case of a Foreign Lender (other than an
      assignee pursuant to a request by the Borrower under Section 2.19(b)), any
      withholding tax that is imposed on amounts payable to such Foreign Lender at
      the
      time such Foreign Lender becomes a party to this Agreement (or designates a
      new
      lending office) or is attributable to such Foreign Lender's failure to comply
      with Section 2.17(e), except to the extent that such Foreign Lender (or its
      assignor, if any) was entitled, at the time of designation of a new lending
      office (or assignment), to receive additional amounts from the Borrower with
      respect to such withholding tax pursuant to Section 2.17(a).

     

    “Existing
      Letters of Credit”
shall
      mean the letters of credit issued by JPMorgan Chase Bank, N.A. for the account
      of the Company prior to the date hereof as set forth on Schedule 2.06
      hereto.

     

    “Federal
      Funds Effective Rate”
means,
      for any day, the weighted average (rounded upwards, if necessary, to the next
      1/100 of 1%) of the rates on overnight Federal funds transactions with members
      of the Federal Reserve System arranged by Federal funds brokers, as published
      on
      the next succeeding Business Day by the Federal Reserve Bank of New York,
      or, if such rate is not so published for any day that is a Business Day, the
      average (rounded upwards, if necessary, to the next 1/100 of 1%) of the
      quotations for such day for such transactions received by the Administrative
      Agent from three Federal funds brokers of recognized standing selected by it.
      

    

    “FFO”
means
      funds from operations, which shall mean consolidated net income of the Borrower
      and its Subsidiaries plus the sum, without duplication, of depreciation and
      amortization, exclusive of any gain or loss from debt restructuring or property
      sales plus or minus, as applicable, other non-cash charges and expenses.

    

    “Financial
      Officer”
means
      the chief executive officer, president, chief financial officer, principal
      accounting officer, treasurer or controller of the Borrower.

    

    “Fixed
      Charge Coverage”
means,
      as of the date of determination, the ratio of (a) EBITDAR for the most recently
      ended fiscal quarter, to (b) the sum of all interest incurred (accrued, paid
      or
      capitalized) plus all regularly scheduled principal payments with respect to
      Indebtedness (excluding optional prepayments and balloon principal payments
      due
      on maturity in respect of any Indebtedness) paid, plus rent expense, dividends
      on preferred stock or minority interest distributions for such fiscal quarter,
      all determined on a consolidated basis in accordance with GAAP. 

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

       

    

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

    

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

    

    “Governmental
      Authority”
means
      the government of the United States of America, any other nation or any
      political subdivision thereof, whether state or local, and any agency,
      authority, instrumentality, regulatory body, court, central bank or other entity
      exercising executive, legislative, judicial, taxing, regulatory or
      administrative powers or functions of or pertaining to government.

    

    “Guarantee
      Obligation”
as
      to
      any Person (the “guaranteeing person”), means any obligation (determined without
      duplication) of (a) the guaranteeing person or (b) another Person (including
      any
      bank under any letter of credit) to induce the creation of which the
      guaranteeing person has issued a reimbursement, counter-indemnity or similar
      obligation, in either case guaranteeing or in effect guaranteeing any
      Indebtedness, leases, dividends or other obligations (the “primary obligations”)
      of any other third Person (the “primary obligor”) in any manner, whether
      directly or indirectly, including any obligation of the guaranteeing person,
      whether or not contingent, (i) to purchase any such primary obligation or any
      property constituting direct or indirect security therefor, (ii) to advance
      or
      supply funds (1) for the purchase or payment of any such primary obligation
      or
      (2) to maintain working capital or equity capital of the primary obligor or
      otherwise to maintain the net worth or solvency of the primary obligor, (iii)
      to
      purchase property, securities or services primarily for the purpose of assuring
      the owner of any such primary obligation of the ability of the primary obligor
      to make payment of such primary obligation or (iv) otherwise to assure or hold
      harmless the owner of any such primary obligation against loss in respect
      thereof; provided, however, that the term Guarantee Obligation shall not include
      endorsements of instruments for deposit or collection in the ordinary course
      of
      business. The amount of any Guarantee Obligation of any guaranteeing person
      shall be deemed to be the maximum stated amount of the primary obligation
      relating to such Guarantee Obligation (or, if less, the maximum stated liability
      set forth in the instrument embodying such Guarantee Obligation), provided
      that
      in the absence of any such stated amount or stated liability, the amount of
      such
      Guarantee Obligation shall be such guaranteeing person's maximum reasonably
      anticipated liability in respect thereof as determined by the Borrower in good
      faith. 

    

    “Guarantor”
at
      any
      particular time, each Subsidiary that is a party to the Subsidiary Guarantee
      at
      such time.

    

    “Indebtedness”
of
      any
      Person means, without duplication, (a) all obligations of such Person for
      borrowed money or with respect to unfunded deposits or advances of any kind,
      (b) all obligations of such Person evidenced by bonds, debentures, notes or
      similar instruments, (c) all obligations of such Person upon which interest
      charges are customarily paid, (d) all obligations of such Person under
      conditional sale or other title retention agreements relating to property
      acquired by such Person, (e) all obligations of such Person in respect of
      the deferred purchase price of property or services (excluding current accounts
      payable incurred in the ordinary course of business), (f) all Indebtedness
      of others secured by (or for which the holder of such Indebtedness has an
      existing right, contingent or otherwise, to be secured by) any Lien on property
      owned or acquired by such Person, whether or not the Indebtedness secured
      thereby has been assumed, (g) all guarantees by such Person of Indebtedness
      of others, (h) all Capital 

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

       

      Lease
        Obligations of such Person, (i) all obligations, contingent or otherwise,
        of such Person as an account party in respect of letters of credit and letters
        of guaranty, (j) all obligations, contingent or otherwise, of such Person
        in
        respect of bankers' acceptances and (k) net obligations arising under Swap
        Agreements (to the extent required to be reflected on the balance sheet of
        such
        Person in accordance with GAAP), exclusive, however, of all accounts payable,
        accrued interest and expenses, prepaid rents, security deposits and dividends
        and distributions declared but not yet paid. The Indebtedness of any Person
        shall include the Indebtedness of any other entity (including any partnership
        in
        which such Person is a general partner) to the extent such Person is liable
        therefor as a result of such Person's ownership interest in or other
        relationship with such entity, except to the extent the terms of such
        Indebtedness provide that such Person is not liable therefor. Indebtedness
        shall
        not include any Intracompany Indebtedness. “Intracompany Indebtedness”
means any indebtedness whose obligor and obligee are Borrower and/or
        any
        Subsidiary of Borrower.

       

    

    “Indemnified
      Taxes”
means
      Taxes other than Excluded Taxes.

    

    “Interest
      Election Request”
means
      a
      request by the Borrower to convert or continue a Revolving Borrowing in
      accordance with Section 2.08.

    

    “Interest
      Payment Date”
means
      (a) with respect to any ABR Loan (other than a Swingline Loan), the last
      day of each March, June, September and December, (b) with respect to any
      Eurodollar Loan, the last day of the Interest Period applicable to the Borrowing
      of which such Loan is a part and, in the case of a Eurodollar Borrowing with
      an
      Interest Period of more than three months' duration, each day prior to the
      last
      day of such Interest Period that occurs at intervals of three months' duration
      after the first day of such Interest Period, and (c) with respect to any
      Swingline Loan, the day that such Loan is required to be repaid.

    

    “Interest
      Period”
means
      with respect to any Eurodollar Borrowing, the period commencing on the date
      of
      such Borrowing and ending on the numerically corresponding day in the calendar
      month that is one, two, three or six months or two-weeks (unless any Lender
      has previously advised the Administrative Agent and the Borrower in writing
      that
      it is unable to enter into Eurodollar rate contracts with an interest period
      of
      two-weeks) thereafter, as the Borrower may elect; provided, that (i) if any
      Interest Period would end on a day other than a Business Day, such Interest
      Period shall be extended to the next succeeding Business Day unless such next
      succeeding Business Day would fall in the next calendar month, in which case
      such Interest Period shall end on the next preceding Business Day and (ii) any
      Interest Period pertaining to a Eurodollar Borrowing that commences on the
      last
      Business Day of a calendar month (or on a day for which there is no numerically
      corresponding day in the last calendar month of such Interest Period) shall
      end
      on the last Business Day of the last calendar month of such Interest Period.
      For
      purposes hereof, the date of a Borrowing initially shall be the date on which
      such Borrowing is made and, in the case of a Revolving Borrowing, thereafter
      shall be the effective date of the most recent conversion or continuation of
      such Borrowing. 

    

    “Issuing
      Bank”
means
      JPMorgan Chase Bank, N.A., in its capacity as the issuer of Letters of Credit
      hereunder, and its successors in such capacity as provided in
      Section 2.06(i). The Issuing Bank may, in its discretion, arrange for one
      or more Letters of Credit to be issued by Affiliates of the Issuing Bank, in
      which case the term “Issuing Bank” shall include any such Affiliate with respect
      to Letters of Credit issued by such Affiliate.

    

    “LC
      Disbursement”
means
      a
      payment made by the Issuing Bank pursuant to a Letter of Credit.

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

       

    

    “LC
      Exposure”
means,
      at any time, the sum of (a) the aggregate undrawn amount of all outstanding
      Letters of Credit at such time plus (b) the aggregate amount of all LC
      Disbursements that have not yet been reimbursed by or on behalf of the Borrower
      at such time. The LC Exposure of any Lender at any time shall be its Applicable
      Percentage of the total LC Exposure at such time.

    

    “Lenders”
means
      the Persons listed on Schedule 2.01 and any other Person that shall have
      become a party hereto pursuant to an Assignment and Assumption, other than
      any
      such Person that ceases to be a party hereto pursuant to an Assignment and
      Assumption. Unless the context otherwise requires, the term “Lenders” includes
      the Swingline Lender.

    

    “Letter
      of Credit”
means
      any letter of credit issued pursuant to this Agreement.

    

    ‘LIBO
      Rate”
means,
      with respect to any Eurodollar Borrowing for any Interest Period, the rate
      appearing on Reuters BBA Libor Rates Page 3750 (or on any successor or
      substitute page of such Service, or any successor to or substitute for such
      Service, providing rate quotations comparable to those currently provided on
      such page of such Service, as determined by the Administrative Agent from time
      to time for purposes of providing quotations of interest rates applicable to
      dollar deposits in the London interbank market) at approximately 11:00 a.m.,
      London time, two Business Days prior to the commencement of such Interest
      Period, as the rate for dollar deposits with a maturity comparable to such
      Interest Period. In the event that such rate is not available at such time
      for
      any reason, then the "LIBO Rate" with respect to such Eurodollar Borrowing
      for
      such Interest Period shall be the rate at which dollar deposits of $5,000,000
      and for a maturity comparable to such Interest Period are offered by the
      principal London office of the Administrative Agent in immediately available
      funds in the London interbank market at approximately 11:00 a.m., London time,
      two Business Days prior to the commencement of such Interest
      Period.

    

    “Lien”
means,
      with respect to any asset, (a) any mortgage, deed of trust, lien, pledge,
      hypothecation, encumbrance, charge or security interest in, on or of such asset
      other than Permitted Encumbrances, (b) the interest of a vendor or a lessor
      under any conditional sale agreement, capital lease or title retention agreement
      (or any financing lease having substantially the same economic effect as any
      of
      the foregoing) relating to such asset and (c) in the case of securities,
      any purchase option, call or similar right of a third party with respect to
      such
      securities.

    

    “Loan
      Documents”
means,
      collectively, this Agreement, the Notes, the Subsidiary Guarantee and each
      other
      agreement executed in connection with the transactions contemplated hereby
      or
      thereby, as each of the same may hereafter be amended, restated, supplemented
      or
      otherwise modified from time to time.

     

    “Loan
      Parties”
means,
      collectively, the Borrower and the Guarantors; “Loan
      Party”
means
      the Borrower or any Guarantor.

    

    “Loans”
means
      the loans made by the Lenders to the Borrower pursuant to this Agreement.

    

    “Material
      Adverse Effect”
means
      a
      material adverse effect on (a) the business, assets, prospects or
      condition, financial or otherwise, of the Borrower and the Subsidiaries taken
      as
      a whole or (b) the rights of or benefits available to the Lenders under
      this Agreement.

    

    “Material
      Indebtedness”
means
      Indebtedness (other than the Loans and Letters of Credit), or obligations in
      respect of one or more Swap Agreements, of any one or more of the Borrower
      and
      its Subsidiaries in an aggregate principal amount exceeding $15,000,000 with
      respect for Indebtedness that is recourse to Borrower or $20,000,000, with
      respect to Indebtedness that is without recourse to the Borrower. For purposes
      of determining Material Indebtedness, the “principal amount” of the obligations
      of the Borrower or any Subsidiary in respect of any Swap Agreement at any time
      shall be the maximum aggregate amount (giving effect to any netting agreements)
      that the Borrower or such Subsidiary would be required to pay if such Swap
      Agreement were terminated at such time.

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

       

    

    “Materials
      of Environmental Concern”
means
      any gasoline or petroleum (including crude oil or any fraction thereof) or
      petroleum products or any hazardous or toxic substances, materials or wastes
      defined or regulated as such in or under any Environmental Law, including
      asbestos or asbestos containing materials, polychlorinated biphenyls,
      urea-formaldehyde insulation, explosive or radioactive substances, radon gas,
      infectious or medical wastes. 

     

    “Maturity
      Date”
means,
      subject to the provisions of Section 2.20 hereof, March 27, 2011.

    

    “Multiemployer
      Plan”
means
      a
      multiemployer plan as defined in Section 4001(a)(3) of ERISA.

    

    “Non-consolidated
      Affiliate”
means
      an
      Affiliate of the Borrower, in which the Borrower, directly or indirectly through
      ownership of one or more intermediary entities, owns an Equity Interest but
      that
      is not required in accordance with GAAP to be consolidated with the Borrower
      for
      financial reporting purposes. 

    

    “Non-Material
      Guarantor”
means
      any Guarantor which has less than $1,000,000 in assets, as reflected on the
      most
      recent financial statements delivered pursuant to Section 5.01(a) or (b) hereof.
      

    

    “Notes”
means
      the Revolving Notes and the Swingline Note. 

    

    “Original
      Lenders”
has
      the
      meaning set forth in the recitals hereto.

     

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

    

    “Participant”
has
      the
      meaning set forth in Section 9.04.

    

    “PBGC”
means
      the Pension Benefit Guaranty Corporation referred to and defined in ERISA and
      any successor entity performing similar functions.

    

    “Permitted
      Encumbrances”
      means:

    

    (a)    
      Liens
      imposed by law for taxes that are not yet due or are being contested in
      compliance with Section 5.04;

    

    (b)    
      carriers',
      warehousemen's, mechanics', materialmen's, repairmen's and other like Liens
      imposed by law, arising in the ordinary course of business and securing
      obligations that are not overdue by more than 60 days or are being contested
      in
      compliance with Section 5.04;

    

    (c)    
      pledges
      and deposits made in the ordinary course of business in compliance with workers'
      compensation, unemployment insurance and other social security laws or
      regulations or to secure liabilities to other insurance carrier;

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

       

    

    (d)    
      deposits
      to secure the performance of bids, trade contracts, leases, statutory
      obligations, purchase contracts, construction contracts, surety and appeal
      bonds, performance bonds and other obligations of a like nature, in each case
      in
      the ordinary course of business;

    

    (e)    
      judgment
      liens in respect of judgments that do not constitute an Event of Default under
      clause (k) of Article VII; and

    

    (f)    
      easements,
      zoning restrictions, rights-of-way and similar encumbrances on real property
      imposed by law or arising in the ordinary course of business that do not secure
      any monetary obligations and do not materially detract from the value of the
      affected property or interfere with the ordinary conduct of business of the
      Borrower or any Subsidiary;

    

    (g)    
      Liens
      for
      purchase money obligations for equipment (or Liens to secure Indebtedness
      incurred within 90 days after the purchase of any equipment to pay all or a
      portion of the purchase price thereof or to secure Indebtedness incurred solely
      for the purpose of financing the acquisition of any such equipment, or
      extensions, renewals, or replacements of any of the foregoing for the same
      or
      lesser amount); provided that (i) the Indebtedness secured by any such Lien
      does
      not exceed the purchase price of such equipment, (ii) any such Lien encumbers
      only the asset so purchased and the proceeds upon sale, disposition, loss or
      destruction thereof, and (iii)such Lien after giving effect to Indebtedness
      secured thereby, does not give rise to an Event of Default;

    

    (h)    
      (x)
      Liens
      and judgments which have been or will be bonded (and the Lien on any cash or
      securities serving as security for such bond) or released of record within
      thirty (30) days after the date such Lien or judgment is entered or filed
      against Borrower or any Subsidiary, or (y) Liens which are being contested
      in
      good faith by appropriate proceedings for review and in respect of which there
      shall have been secured a subsisting stay of execution pending such appeal
      or
      proceedings and as to which the subject asset is not at risk of
      forefeiture;

    

    (i)    
      Liens
      on
      Property of the Borrower or its Subsidiaries securing Indebtedness which may
      be
      incurred or remain outstanding without resulting in an Event of Default
      hereunder;

    

    (j)    
      Liens
      in
      favor of the Borrower or any Subsidiary of Borrower against any asset of
      Borrower or any Subsidiary or Non-consolidated Affiliate of
      Borrower;

    

    (k)    Leases
      that are not Capital Leases; and

    

    (l)    
      Liens
      or
      other encumbrances of tenants of Borrower.

    

    “Permitted
      Investments”
means:
      

    

    (a)  
        owning,
      leasing and operating gasoline station or convenience store properties, and
      related petroleum distribution terminals, and other retail real property and
      other related business activities, including the creation or acquisition of
      any
      interest in any Subsidiary (or entity that following such creation or
      acquisition would be a Subsidiary), for the purpose of owning, leasing and
      operating gasoline station or convenience store properties, and related
      petroleum distribution terminals, and other retail real property, and other
      related business activities; 

    

    (b)  
        acquisitions
      of mortgages,
      provided that the aggregate amount of all such investments in mortgages shall
      not exceed five percent (5%) of the Total Asset Value;

    

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

       

    

    (c)    
      investments
      in unimproved land, provided that the aggregate amount of all such investments
      in unimproved land shall not exceed five percent (5%) of the Total Asset
      Value;

    

    (d)    
      investments
      in marketable securities traded on the New York Stock Exchange (NYSE), the
      American Stock Exchange (AMEX) or NASDAQ (National Market System Issues only),
      provided that the aggregate amount of such investments shall not exceed five
      percent (5%) of the Total Asset Value; 

     

    (e)    
      investments in Non-consolidated Affiliates (excluding marketable securities
      described in clause (d) above), provided that the aggregate amount of such
      investments shall
      not
      exceed ten percent (10%) of the Total Asset Value; 

    

    (f)    
      investments
      in real property under development (i.e., a property which is being developed
      for which a certificate of occupancy has not been issued), provided that the
      aggregate amount of all such investments in development property shall not
      exceed ten percent (10%) of the Total Asset Value.

    

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

    

    “Plan”
means
      any employee pension benefit plan (other than a Multiemployer Plan) subject
      to
      the provisions of Title IV of ERISA or Section 412 of the Code or
      Section 302 of ERISA, and in respect of which the Borrower or any ERISA
      Affiliate is (or, if such plan were terminated, would under Section 4069 of
      ERISA be deemed to be) an “employer” as defined in Section 3(5) of
      ERISA.

    

    “Prime
      Rate”
means
      the rate of interest per annum publicly announced from time to time by JPMorgan
      Chase Bank, N.A. as its prime rate in effect at its principal office in New
      York
      City; each change in the Prime Rate shall be effective from and including the
      date such change is publicly announced as being effective. 

    

    “Prior
      Credit Agreement”
has
      the
      meaning set forth in the recitals hereto. 

    

    “Property”
means
      the real property owned by the Borrower and/or any of its Subsidiaries, or
      in
      which the Borrower or any of its Subsidiaries has a leasehold
      interest.

     

    “Qualified
      Institution”
means
      one or more banks, finance companies, insurance or other financial institutions
      which (A) has (or, in the case of a bank or other financial institution which
      is
      a subsidiary, such bank's or financial institution's parent has) a rating of
      its
      senior unsecured debt obligations of not less than Baa1 by Moody's or a
      comparable rating by a rating agency acceptable to Administrative Agent or
      (B)
      has total assets in excess of One Billion Dollars ($1,000,000,000).

    

    “Qualified
      Real Estate Assets”
means
      any gasoline station, convenience store, or petroleum distribution terminal
      related thereto, or other retail real property that is (a) either (i) wholly
      owned, (ii) ground leased under an Eligible Ground Lease by the Borrower or
      a
      Guarantor or (iii) an Eligible Leasehold Property; (b) is not subject to any
      liens other than Permitted Encumbrances or, other than with respect to any
      Eligible Leasehold Property, to any agreement that prohibits the creation of
      any
      lien thereon as security for indebtedness of the Borrower and the Guarantors,
      (c) other than with respect to an Eligible Leasehold Property, is not subject
      to
      any agreement, including the organizational documents of the owner of the asset,
      which limits, in any way, the ability of the Borrower or such Guarantor to
      create any lien thereon as security for indebtedness, (d) is free from material
      structural defects and material title defects and (e) except for those
      properties leased by the Borrower and/or the Guarantors to Getty Petroleum
      Marketing Inc. or any affiliate of GPM Investments, LLC, is free from any
      material environmental condition that impairs, in any material respect, the
      operation and use of such premises for its intended purpose. 

    

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    “Register”
has
      the
      meaning set forth in Section 9.04.

    

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

    

    “Required
      Lenders”
means,
      at any time, Lenders having Revolving Credit Exposures and Unused Commitments
      representing at least 66 2/3% of the sum of the total Revolving Credit Exposures
      and Unused Commitments at such time.

    

    “Restricted
      Payment”
has
      the
      meaning set forth in Section 6.05 hereof. 

    

    “Revolving
      Credit Exposure”
means,
      with respect to any Lender at any time, the sum of the outstanding principal
      amount of such Lender's Revolving Loans and its LC Exposure and Swingline
      Exposure at such time.

    

    “Revolving
      Loan”
means
      a
      Loan made pursuant to Section 2.03.

    

    “Revolving
      Notes”
means
      the Revolving Notes to be executed and delivered by the Borrower in favor of
      the
      Lenders, substantially in the form of Exhibit D-1, as each of the same may
      be
      amended, restated, supplemented or otherwise modified, from time to
      time.

    

    “SEC”
means
      the Securities and Exchange Commission.

     

    “Secured
      Indebtedness”
means
      all Indebtedness of the Borrower and any of the Loan Parties which is secured
      by
      a Lien on any Properties. 

     

    “Secured
      Recourse Indebtedness”
means
      all Secured Indebtedness except Indebtedness with respect to which recourse
      for
      payment is contractually limited (except for customary exclusions) to the
      specific Property encumbered by the Lien securing such Indebtedness and other
      than Indebtedness fully collateralized by cash or Cash Equivalents and recourse
      is limited to such cash or Cash Equivalents.
      

     

    “Statutory
      Reserve Rate”
means
      a
      fraction (expressed as a decimal), the numerator of which is the number one
      and
      the denominator of which is the number one minus the aggregate of the maximum
      reserve percentages (including any marginal, special, emergency or supplemental
      reserves) expressed as a decimal established by the Board to which the
      Administrative Agent is subject (a) with respect to the Base CD Rate, for
      new negotiable nonpersonal time deposits in dollars of over $100,000 with
      maturities approximately equal to three months and (b) with respect to
      the Adjusted LIBO Rate, for eurocurrency funding (currently referred to as
      “Eurocurrency Liabilities” in Regulation D of the Board). Such reserve
      percentages shall include those imposed pursuant to such Regulation D.
      Eurodollar Loans shall be deemed to constitute eurocurrency funding and to
      be
      subject to such reserve requirements without benefit of or credit for proration,
      exemptions or offsets that may be available from time to time to any Lender
      under such Regulation D or any comparable regulation. The Statutory Reserve
      Rate shall be adjusted automatically on and as of the effective date of any
      change in any reserve percentage.

    

    “subsidiary”
means,
      with respect to any Person (the “parent”) at any date, any corporation, limited
      liability company, partnership, association or other entity the accounts of
      which would be consolidated with those of the parent in the parent's
      consolidated financial statements if such financial statements were prepared
      in
      accordance with GAAP as of such date, as well as any other corporation, limited
      liability company, partnership, association or other entity (a) of which
      securities or other ownership interests representing more than 50% of the equity
      or more than 50% of the ordinary voting power or, in the case of a partnership,
      more than 50% of the general partnership interests are, as of such date, owned,
      controlled or held, or (b) that is, as of such date, otherwise Controlled,
      by the parent or one or more subsidiaries of the parent or by the parent and
      one
      or more subsidiaries of the parent.

    

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

       

    

    “Subsidiary”
means
      any subsidiary of the Borrower.

    

    “Subsidiary
      Guarantee”
means
      the Guarantee to be executed and delivered by each Subsidiary in accordance
      with
      the terms of this Agreement, substantially in the form of Exhibit
      C.

    

    “Subsidiary
      Indebtedness”
means
      all Indebtedness of the Subsidiaries owing to Persons other than the Borrower
      or
      any other Subsidiary, which Indebtedness is not secured by a Lien on any income,
      Capital Stock, property or other asset of a Subsidiary. 

    

    “Swap
      Agreement”
means
      any agreement with respect to any swap, forward, future or derivative
      transaction or option or similar agreement involving, or settled by reference
      to, one or more rates, currencies, commodities, equity or debt instruments
      or
      securities, or economic, financial or pricing indices or measures of economic,
      financial or pricing risk or value or any similar transaction or any combination
      of these transactions; provided that no phantom stock or similar plan providing
      for payments only on account of services provided by current or former
      directors, officers, employees or consultants of the Borrower or the
      Subsidiaries shall be a Swap Agreement.

    

    “Swingline
      Exposure”
means,
      at any time, the aggregate principal amount of all Swingline Loans outstanding
      at such time. The Swingline Exposure of any Lender at any time shall be its
      Applicable Percentage of the total Swingline Exposure at such time.

    

    “Swingline
      Lender”
means
      JPMorgan Chase Bank, N.A., in its capacity as lender of Swingline Loans
      hereunder.

    

    “Swingline
      Loan”
means
      a
      Loan made pursuant to Section 2.05.

    

    “Swingline
      Note”
means
      the Swingline Note, to be executed and delivered by the Borrower in favor of
      the
      Swingline Lender, substantially in the form of Exhibit D-2, as same may be
      amended, restated, supplemented or otherwise modified, from time to
      time.

    

    “Tangible
      Net Worth”
means,
      the sum of the shareholders' equity of the Borrower and its Subsidiaries minus
      goodwill, trademarks, tradenames, licenses and other intangible assets (as
      shown
      on the balance sheet of the Borrower), as determined on a consolidated basis
      in
      accordance with GAAP.

    

    “Taxes”
means
      any and all present or future taxes, levies, imposts, duties, deductions,
      charges or withholdings imposed by any Governmental Authority.

    

    “Three-Month
      Secondary CD Rate”
means,
      for any day, the secondary market rate for three-month certificates of deposit
      reported as being in effect on such day (or, if such day is not a Business
      Day,
      the next preceding Business Day) by the Board through the public information
      telephone line of the Federal Reserve Bank of New York (which rate will,
      under the current practices of the Board, be published in Federal Reserve
      Statistical Release H.15(519) during the week following such day) or, if
      such rate is not so reported on such day or such next preceding Business Day,
      the average of the secondary market quotations for three-month certificates
      of
      deposit of major money center banks in New York City received at approximately
      10:00 a.m., New York City time, on such day (or, if such day is not a
      Business Day, on the next preceding Business Day) by the Administrative Agent
      from three negotiable certificate of deposit dealers of recognized standing
      selected by it.

    

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

       

    

    “Total
      Asset Value”
means,
      as of any relevant date, the sum of, without duplication, (i) for Properties
      owned or leased for one full quarter or more, the quotient obtained by dividing
      (a) EBITDA for such Properties for the most recently concluded fiscal quarter
      multiplied by 4 by (b) 10.50%, (ii) for Properties owned or leased for less
      than
      one full quarter, the cost of such Properties, including the cost of capital
      expenditures actually incurred in connection with such Properties, (iii)
      Unrestricted Cash and Cash Equivalents of the Borrower and its consolidated
      Subsidiaries as of such date, (iv) investments in Non-consolidated Affiliates,
      valued at an amount equal to (a) EBITDA received by Borrower from such
      Non-consolidated Affiliates multiplied by 4, divided by (b) 10.50%, (v)
      investments in marketable securities, valued at the lower of “cost” or “market”,
      (vi) investments in land and development properties, valued at “cost” and (vi)
      the book value of notes and mortgages receivable.

    

    “Total
      Indebtedness”
means
      as
      of the date of determination, all Indebtedness of the Borrower and its
      Subsidiaries outstanding on such date.

    

    “Total
      Liabilities”
means,
      for any Person, all liabilities which would be classified as liabilities on
      a
      consolidated balance sheet of such person and its Subsidiaries in accordance
      with GAAP, all guarantees and contingent obligations (excluding terminal
      indemnifications or litigation which Borrower is not required to accrue as
      a
      liability under GAAP) of such person and its Subsidiaries including, but not
      limited to, letters of credit, net obligations arising under Swap Agreements
      (to
      the extent required to be reflected on the balance sheet of such Person, in
      accordance with GAAP), forward equity commitments, obligations to pay the
      deferred purchase price of property and the pro rata share of indebtedness
      of
      Non-consolidated Affiliates.

    

    “Total
      Secured Indebtedness”
means
      as
      of any date of determination, the aggregate of: (a) Indebtedness of the Borrower
      and its Subsidiaries outstanding as of such date, secured by any asset of the
      Borrower and its Subsidiaries, and (b) all Subsidiary Indebtedness outstanding
      as of such date. 

    

    “Total
      Unsecured Indebtedness”
means,
      as of the date of determination, all Indebtedness of the Borrower and its
      Subsidiaries (excluding Subsidiary Indebtedness) which is not secured by Lien
      on
      any income, Capital Stock, property or other asset of the Borrower and its
      Subsidiaries.

    

    “Transactions”
means
      the execution, delivery and performance by the Borrower of this Agreement,
      the
      borrowing of Loans, the issuance of Letters of Credit hereunder and the
      guaranties by the Guarantors of the Indebtedness owing to the Administrative
      Agent and the Lenders hereunder.

    

    “Type”,
      when
      used in reference to any Loan or Borrowing, refers to whether the rate of
      interest on such Loan, or on the Loans comprising such Borrowing, is determined
      by reference to the Adjusted LIBO Rate or the Alternate Base Rate.

    

    “Unencumbered
      Asset Value”
means,
      with respect to the Qualified Real Estate Assets, the sum of (a) for Properties
      owned or leased for at least one full calendar quarter, the quotient obtained
      by
      dividing (i) Property EBITDA for the most recent quarter multiplied by 4, by
      (ii) 10.5% and (b) for such properties acquired during the calendar quarter,
      the
      cost of such Properties, including the cost of capital expenditures actually
      incurred in connection with such Properties. In determination of Unencumbered
      Asset Value (a) properties under Eligible Ground Leases (exclusive of any
      Property that is an Eligible Leasehold Property) shall be limited to maximum
      of
      10% of Unencumbered Asset Value. 

    

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

       

      “Unrestricted
        Cash and Cash Equivalents”
means
        at
        any date of determination, the sum of: (a) the aggregate amount of unrestricted
        cash then held by the Borrower or any of its Subsidiaries, plus (b) the
        aggregate amount of unrestricted Cash Equivalents (valued at fair market
        value)
        then held by the Borrower or any of its Subsidiaries, plus (c) the aggregate
        amount of cash or Cash Equivalents in restricted 1031 accounts under the
        control
        of Borrower. As used in this definition, “Unrestricted” means, with respect to
        any asset, the circumstance that such asset is not subject to any Liens or
        claims of any kind in favor of any Person. 

    

    

    “Unsecured
      Debt Service Coverage Ratio”
means,
      as of the date of determination, the ratio of (a) EBITDA from Qualified Real
      Estate Assets, for the most recently ended fiscal quarter to (b) the sum of
      all
      interest incurred (accrued, paid or capitalized) plus all regularly scheduled
      principal payments with respect to Total Unsecured Indebtedness (excluding
      optional prepayments and balloon principal payments due on maturity in respect
      of any Indebtedness) paid during such fiscal quarter, all determined on a
      consolidated basis in accordance with GAAP.

     

    “Unused
      Commitment”
means,
      with respect to any Lender at any time, an amount equal to the remainder of
      (a)
      such Lender's Commitment at such time, less (b) the sum of the aggregate
      principal amount of all Revolving Credit Loans of such Lender then outstanding
      and such Lender's Applicable Percent of the total LC Exposure at such
      time.

    

    “Unused
      Fee Rate”
means
      the per annum percentage identified below opposite the percentage of the total
      Commitments outstanding at the time of calculation:

    

    
      	
              Usage:

            	
              Unused
                Fee Rate

            
	
               

              <
                33 1/3%

            	
               

              0.20%

            
	 	 
	
              >
                33
                1/3% but < 66 2/3%

            	
              0.15%

            
	 	 
	
              >
                66
                2/3%

            	
              0.10%

            

    

     

    “Usage”
means
      the percentage determined by dividing Aggregate Outstandings by the aggregate
      Commitment.

    

    “Withdrawal
      Liability”
means
      liability to a Multiemployer Plan as a result of a complete or partial
      withdrawal from such Multiemployer Plan, as such terms are defined in
      Part I of Subtitle E of Title IV of ERISA.

    

    Section
      1.02  Classification
      of Loans and Borrowings.
      For
      purposes of this Agreement, Loans may be classified and referred to by Class
      (e.g., a “Revolving Loan”) or by Type (e.g., a “Eurodollar Loan”) or by Class
      and Type (e.g., a “Eurodollar Loan”). Borrowings also may be classified and
      referred to by Class (e.g., a “Revolving Borrowing”) or by Type (e.g., a
“Eurodollar Borrowing”) or by Class and Type (e.g., a “Eurodollar
      Borrowing”).

    

    Section
      1.03  Terms
      Generally.
      The
      definitions of terms herein shall apply equally to the singular and plural
      forms
      of the terms defined. Whenever the context may require, any pronoun shall
      include the corresponding mascu-line, feminine and neuter forms. The words
      “include”, “includes” and “including” shall be deemed to be followed by the
      phrase “without limitation”. The word “will” shall be construed to have the same
      meaning and effect as the word “shall”. Unless the context requires
      otherwise,

    

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

       

    

    (a)  any
      definition of or reference to any agreement, instrument or other document herein
      shall be construed as referring to such agreement, instrument or other document
      as from time to time amended, supplemented or otherwise modified (subject to
      any
      restrictions on such amendments, supplements or modifications set forth herein),
      

    

    (b)  any
      reference herein to any Person shall be construed to include such Person's
      successors and assigns, 

    

    (c)  the
      words
“herein”, “hereof” and “hereunder”, and words of similar import, shall be
      construed to refer to this Agreement in its entirety and not to any particular
      provision hereof, 

    

    (d)  all
      references herein to Articles, Sections, Exhibits and Schedules shall be
      construed to refer to Articles and Sections of, and Exhibits and Schedules
      to,
      this Agreement and 

    

    (e)  the
      words
“asset” and “property” shall be construed to have the same meaning and effect
      and to refer to any and all tangible and intangible assets and properties,
      including cash, securities, accounts and contract rights. 

    

    Section
      1.04  Accounting
      Terms; GAAP.
      Except
      as otherwise expressly provided herein, all terms of an accounting or financial
      nature shall be construed in accordance with GAAP, as in effect from time to
      time; provided that, if the Borrower notifies the Administrative Agent that
      the
      Borrower requests an amendment to any provision hereof to eliminate the effect
      of any change occurring after the date hereof in GAAP or in the application
      thereof on the operation of such provision (or if the Administrative Agent
      notifies the Borrower that the Required Lenders request an amendment to any
      provision hereof for such purpose), regardless of whether any such notice is
      given before or after such change in GAAP or in the application thereof, then
      such provision shall be interpreted on the basis of GAAP as in effect and
      applied immediately before such change shall have become effective until such
      notice shall have been withdrawn or such provision amended in accordance
      herewith.

    

    ARTICLE
      II.

     

    The
      Credits

    

    Section
      2.01  Commitments.
      Subject
      to the terms and conditions set forth herein, each Lender agrees, severally
      and
      not jointly, to make Revolving Loans to the Borrower from time to time during
      the Availability Period in an aggregate principal amount that will not result
      in:

    

    (a)  such
      Lender's Revolving Credit Exposure exceeding such Lender's Commitment after
      taking into account any Swingline Loans to be repaid or LC Disbursement to
      be
      reimbursed with the proceeds of such Revolving Loan; or 

    

    (b)  the
      sum of
      the total Revolving Credit Exposures exceeding the total Commitments, after
      taking into account any Swingline Loans to be repaid or LC Disbursement to
      be
      reimbursed with the proceeds of such Revolving Loan. 

    

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

       

    

    Within
      the
      foregoing limits and subject to the terms and conditions set forth herein,
      the
      Borrower may borrow, prepay and reborrow Revolving Loans. 

    

    Section
      2.02  Loans
      and Borrowings. 

    

    (a)  Each
      Revolving Loan shall be made as part of a Borrowing consisting of Revolving
      Loans made by the Lenders ratably in accordance with their respective
      Commitments. The failure of any Lender to make any Loan required to be made
      by
      it shall not relieve any other Lender of its obligations hereunder; provided
      that the Commitments of the Lenders are several and no Lender shall be
      responsible for any other Lender's failure to make Loans as
      required.

    

    (b)  Subject
      to
      Section 2.14, each Revolving Borrowing shall be comprised entirely of ABR
      Loans or Eurodollar Loans as the Borrower may request in accordance herewith.
      Each Swingline Loan shall be an ABR Loan. Each Lender at its option may make
      any
      Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such
      Lender to make such Loan; provided that any exercise of such option shall not
      affect the obligation of the Borrower to repay such Loan in accord-ance with
      the
      terms of this Agreement. 

    

    (c)  At
      the
      commencement of each Interest Period for any Eurodollar Borrowing, such
      Borrowing shall be in an aggregate amount that is an integral multiple of
      $500,000 and not less than $2,500,000. At the time that each ABR Revolving
      Borrowing is made, such Borrowing shall be in an aggregate amount that is an
      integral multiple of $500,000 and not less than $1,000,000;
      provided
      that an ABR Revolving Borrowing may be in an aggregate amount that is equal
      to
      the entire unused balance of the total Commitments or that is required to
      finance the reimbursement of an LC Disbursement as contemplated by Section
      2.06(e). Each Swingline Loan shall be in an amount that is an integral multiple
      of $100,000 and not less than $200,000. Borrowings of more than one Type and
      Class may be outstanding at the same time; provided that there shall not at
      any
      time be more than a total of 8 Eurodollar Borrowings outstanding. 

    

    (d)  Notwithstanding
      any other provision of this Agreement, the Borrower shall not be entitled to
      request, or to elect to convert or continue, any Borrowing if the Interest
      Period requested with respect thereto would end after the Maturity
      Date.

    

    Section
      2.03  Requests
      for Revolving Borrowings.
      To
      request a Revolving Borrowing, the Borrower shall notify the Administrative
      Agent of such request by telephone (a) in the case of a Eurodollar Borrowing,
      not later than 11:00 a.m., New York City time, three Business Days before
      the date of the proposed Borrowing or (b) in the case of an ABR Borrowing,
      not later than 11:00 a.m., New York City time, one Business Day before the
      date of the proposed Borrowing; provided that any such notice of an ABR
      Revolving Borrowing to finance the reimbursement of an LC Disbursement as
      contemplated by Section 2.06(e) may be given not later than 10:00 a.m., New
      York City time, on the date of the proposed Borrowing. Each such telephonic
      Borrowing Request shall be irrevocable and shall be confirmed promptly by hand
      delivery or telecopy to the Administrative Agent of a written Borrowing Request
      in the form attached hereto as Exhibit E and signed by the Borrower. Each such
      telephonic and written Borrowing Request shall specify the following information
      in compliance with Section 2.02: 

    

    (i)  the
      aggregate amount of the requested Borrowing;

    

    (ii)  the
      date
      of such Borrowing, which shall be a Business Day;

    

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

       

    

    (iii)  
      whether
      such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;

    

    (iv)  in
      the
      case of a Eurodollar Borrowing, the initial Interest Period to be applicable
      thereto, which shall be a period contemplated by the definition of the term
      “Interest Period”; and

    

    (v)  the
      location and number of the Borrower's account to which funds are to be
      disbursed, which shall comply with the requirements of Section
      2.07.

    

    If
      no
      election as to the Type of Revolving Borrowing is specified, then the requested
      Revolving Borrowing shall be an ABR Borrowing. If no Interest Period is
      specified with respect to any requested Eurodollar Borrowing, then the Borrower
      shall be deemed to have selected an Interest Period of one month's duration.
      Promptly following receipt of a Borrowing Request in accordance with this
      Section, the Administrative Agent shall advise each Lender of the details
      thereof and of the amount of such Lender's Loan to be made as part of the
      requested Borrowing.

    

    Section
      2.04  Increase
      in Commitments. 

    

    (a)  Subject
      to
      the terms and conditions of this Section 2.04, the Borrower shall have the
      right
      at any time and from time to time to increase the Lenders’ Commitments to an
      aggregate amount which is equal to or less than $300,000,000 in the aggregate
      by
      (i) requesting that one or more Lenders (which request may be agreed to or
      declined by such Lender in its sole discretion) increase its respective
      Commitment or (ii) by adding to this Agreement one or more additional financial
      institutions as a Lender; provided,
      however,
      that each such additional financial institution shall be reasonably acceptable
      to the Administrative Agent. An increase in the aggregate amount of the Lenders’
Commitments shall be effectuated pursuant to an agreement with an Increasing
      Lender or Additional Lender, as applicable, in form and substance satisfactory
      to the Borrower and the Administrative Agent pursuant to which in the case
      of an
      Additional Lender, such Additional Lender shall undertake a Commitment, which
      Commitment shall be in an amount at least equal to $5,000,000 or any integral
      multiple of $1,000,000 in excess thereof, and shall agree to be bound as a
      Lender under the terms and conditions of this Agreement and the other documents
      and agreements executed in connection herewith. Upon the effectiveness of any
      such agreement and its acceptance by the Administrative Agent (the date of
      any
      such effectiveness and acceptance, an “Increased
      Commitment Date”),
      with
      respect to an Additional Lender, such Additional Lender shall thereupon become
      a
“Lender” for all purposes of this Agreement with a Commitment in the amount set
      forth in such agreement and, with respect to an Increasing Lender, such
      Increasing Lender shall thereupon have a Commitment in the amount set forth
      in
      such agreement, and this Agreement (including Schedule
      2.01)
      shall be
      deemed amended to the extent, but only to the extent, necessary to reflect,
      as
      applicable, the addition of an Additional Lender or the increase of the
      Commitment of such Increasing Lender. 

    

    (b)  Any
      requested increase in the aggregate amount of the Lenders’ Commitments pursuant
      to Section 2.04(a) shall not be effective unless:

     

    (i)  the
      Borrower shall have given the Administrative Agent notice of such proposed
      increase at least 15 Business Days prior to the proposed Increased Commitment
      Date;

    

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

       

    

    (ii)  no
      Default
      or Event of Default shall have occurred and be continuing as of the date of
      the
      notice referred to in the foregoing clause (i) or on the Increased Commitment
      Date (that has not been waived); and

    

    (iii)  the
      representations and warranties of the Borrower in Article III hereof and of
      the
      Guarantors in the Subsidiary Guaranty shall be true and correct on and as of
      the
      date of the notice referred to in clause (i) and on and as of the Increased
      Commitment Date with the same effect as if made on and as of such notice date
      or
      Increased Commitment Date (except to the extent such representations and
      warranties expressly refer to an earlier date, in which case they shall be
      true
      and correct as of such earlier date).

     

    Each
      notice given by the Borrower pursuant to subsection 2.04(b)(i) shall constitute
      a representation and warranty by the Borrower hereunder, as of the date of
      each
      such notice and after giving effect to the increase in the total Commitments
      effective thereon, that the conditions in this subsection 2.04(b) are
      satisfied.

     

    

    (c)  Effective
      on each Increased Commitment Date, after giving effect to the increase in the
      Commitments effective thereon, (i) the amount of each Lender’s risk
      participation in all outstanding Letters of Credit shall be deemed to be
      automatically increased or decreased, as applicable, to reflect any changes
      in
      such Lender’s Applicable Percentage and (ii) the amount of the Revolving Loans
      then outstanding and held by each Lender shall be adjusted to reflect any
      changes in such Lender’s Applicable Percentage. Each Lender having Revolving
      Loans then outstanding and whose Applicable
      Percentage
      has been
      decreased as a result of the increase in the total Commitments shall be deemed
      to have assigned, without recourse, such portion of such Revolving Loans as
      shall be necessary to effectuate such adjustment to the Additional Lenders
      and
      Increasing Lenders. Each Additional Lender and Increasing Lender shall (x)
      be
      deemed to have assumed such portion of such Revolving Loans and (y) fund on
      the
      Increased Commitment Date such assumed amounts to the Administrative Agent
      for
      the account of the assigning Lender in accordance with the provisions
      hereof.

    

    (d)  The
      Administrative Agent shall promptly notify the Lenders and the Borrower of
      any
      increase in the total Commitments under this Section 2.04 and of each Lender’s
      Applicable Percentage after giving effect to any such increase. 

    

    (e)  The
      Borrower agrees to execute such other documents as the Administrative Agent
      shall deem necessary and appropriate to give effect to this Section
      2.04.

    

    Section
      2.05  Swingline
      Loans. 

    

    (a)  Subject
      to
      the terms and conditions set forth herein, the Swingline Lender agrees to make
      Swingline Loans to the Borrower from time to time during the Availability
      Period, in an aggregate principal amount at any time outstanding that will
      not
      result in: 

    

    (i)  the
      aggregate principal amount of outstanding Swingline Loans exceeding $5,000,000
      or 

    

    (ii)  the
      sum of
      the total Revolving Credit Exposures exceeding the total Commitments (after
      taking into account any LC Disbursement to be reimbursed with the proceeds
      of
      such Swingline Loan); provided that the Swingline Lender shall not be required
      to make a Swingline Loan to refinance an outstanding Swingline Loan. Within
      the
      foregoing limits and subject to the terms and conditions set forth herein,
      the
      Borrower may borrow, repay and reborrow Swingline Loans.

    

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

       

    

    (b)  To
      request
      a Swingline Loan, the Borrower shall notify the Administrative Agent of such
      request by telephone (confirmed by telecopy), not later than 12:00 noon, New
      York City time, on the day of a proposed Swingline Loan. Each such notice shall
      be irrevocable and shall specify the requested date (which shall be a Business
      Day) and amount of the requested Swingline Loan. The Administrative Agent will
      promptly advise the Swingline Lender of any such notice received from the
      Borrower. The Swingline Lender shall make each Swingline Loan available to
      the
      Borrower by means of a credit to the general deposit account of the Borrower
      with the Swingline Lender (or, in the case of a Swingline Loan made to finance
      the reimbursement of an LC Disbursement as provided in Section 2.06(e), by
      remittance to the Issuing Bank) by 3:00 p.m., New York City time, on the
      requested date of such Swingline Loan. 

    

    (c)  The
      Swingline Lender may by written notice given to the Administrative Agent not
      later than 10:00 a.m., New York City time, on any Business Day require the
      Lenders to acquire participations on such Business Day in all or a portion
      of
      the Swingline Loans outstanding. Such notice shall specify the aggregate amount
      of Swingline Loans in which Lenders will participate. Promptly upon receipt
      of
      such notice, the Administrative Agent will give notice thereof to each Lender,
      specifying in such notice such Lender's Applicable Percentage of such Swingline
      Loan or Loans. Each Lender hereby absolutely and unconditionally agrees, upon
      receipt of notice as provided above, to pay to the Administrative Agent, for
      the
      account of the Swingline Lender, such Lender's Applicable Percentage of such
      Swingline Loan or Loans. Each Lender acknowledges and agrees that its obligation
      to acquire participations in Swingline Loans pursuant to this paragraph is
      absolute and unconditional and shall not be affected by any circumstance
      whatsoever, including the occurrence and continuance of a Default or reduction
      or termination of the Commitments, and that each such payment shall be made
      without any offset, abatement, withholding or reduction whatsoever. Each Lender
      shall comply with its obligation under this paragraph by wire transfer of
      immediately available funds, in the same manner as provided in Section 2.07
      with respect to Loans made by such Lender (and Section 2.07 shall apply,
      mutatis mutandis, to the payment obligations of the Lenders), and the
      Administrative Agent shall promptly pay to the Swingline Lender the amounts
      so
      received by it from the Lenders. The Administrative Agent shall notify the
      Borrower of any participations in any Swingline Loan acquired pursuant to this
      paragraph, and thereafter payments in respect of such Swingline Loan shall
      be
      made to the Administrative Agent and not to the Swingline Lender. Any amounts
      received by the Swingline Lender from the Borrower (or other party on behalf
      of
      the Borrower) in respect of a Swingline Loan after receipt by the Swingline
      Lender of the proceeds of a sale of participations therein shall be promptly
      remitted to the Administrative Agent; any such amounts received by the
      Administrative Agent shall be promptly remitted by the Administrative Agent
      to
      the Lenders that shall have made their payments pursuant to this paragraph
      and
      to the Swingline Lender, as their interests may appear; provided that any such
      payment so remitted shall be repaid to the Swingline Lender or to the
      Administrative Agent, as applicable, if and to the extent such payment is
      required to be refunded to the Borrower for any reason. The purchase of
      participations in a Swingline Loan pursuant to this paragraph shall not relieve
      the Borrower of any default in the payment thereof.

    

    (d) 
          The
      Swingline Loans made by the Swingline Lender shall be evidenced by the Swingline
      Note, appropriately completed, duly executed and delivered on behalf of the
      Company and payable to the order of the Swingline Lender in a principal amount
      equal to the Swingline Commitment. 

    

    Section
      2.06  Letters
      of Credit. 

    

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

       

    

    (a)  General.
      Subject
      to the terms and conditions set forth herein, the Borrower may request the
      issuance of Letters of Credit for its own account or the account of any
      Subsidiary, in a form reasonably acceptable to the Administrative Agent and
      the
      Issuing Bank, at any time and from time to time during the Availability Period.
      In the event of any inconsistency between the terms and conditions of this
      Agreement and the terms and conditions of any form of letter of credit
      application or other agreement submitted by the Borrower to, or entered into
      by
      the Borrower with, the Issuing Bank relating to any Letter of Credit, the terms
      and conditions of this Agreement shall control.

    

    (b)  Notice
      of Issuance, Amendment, Renewal, Extension; Certain Conditions.
      To
      request the issuance of a Letter of Credit (or the amendment, renewal or
      extension of an outstanding Letter of Credit), the Borrower shall hand deliver
      or telecopy (or transmit by electronic communication, if arrangements for doing
      so have been approved by the Issuing Bank) to the Issuing Bank and the
      Administrative Agent (reasonably in advance of the requested date of issuance,
      amendment, renewal or extension) a notice requesting the issuance of a Letter
      of
      Credit, or identifying the Letter of Credit to be amended, renewed or extended,
      and specifying the date of issuance, amendment, renewal or extension (which
      shall be a Business Day), the date on which such Letter of Credit is to expire
      (which shall comply with paragraph (c) of this Section), the amount of such
      Letter of Credit, the name and address of the beneficiary thereof and such
      other
      information as shall be necessary to prepare, amend, renew or extend such Letter
      of Credit. If requested by the Issuing Bank, the Borrower also shall submit
      a
      letter of credit application on the Issuing Bank's standard form in connection
      with any request for a Letter of Credit. A Letter of Credit shall be issued,
      amended, renewed or extended only if (and upon issuance, amendment, renewal
      or
      extension of each Letter of Credit the Borrower shall be deemed to represent
      and
      warrant that), after giving effect to such issuance, amendment, renewal or
      extension (i) the LC Exposure shall not exceed $25,000,000 and
      (ii) the sum of the total Revolving Credit Exposures shall not exceed the
      total Commitments.

    

    (c)  Expiration
      Date.
      Each
      Letter of Credit shall expire at or prior to the close of business on the
      earlier of (i) the date one year after the date of the issuance of such
      Letter of Credit (or, in the case of any renewal or extension thereof, one
      year
      after such renewal or extension) and (ii) the Maturity Date.

    

    (d)  Participations.
      By the
      issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing
      the amount thereof) and without any further action on the part of the Issuing
      Bank or the Lenders, the Issuing Bank hereby grants to each Lender, and each
      Lender hereby acquires from the Issuing Bank, a participation in such Letter
      of
      Credit equal to such Lender's Applicable Percentage of the aggregate amount
      available to be drawn under such Letter of Credit. In consideration and in
      furtherance of the foregoing, each Lender hereby absolutely and unconditionally
      agrees to pay to the Administrative Agent, for the account of the Issuing Bank,
      such Lender's Applicable Percentage of each LC Disbursement made by the Issuing
      Bank and not reimbursed by the Borrower on the date due as provided in paragraph
      (e) of this Section, or of any reimbursement payment required to be refunded
      to
      the Borrower for any reason. Each Lender acknowledges and agrees that its
      obligation to acquire participations pursuant to this paragraph in respect
      of
      Letters of Credit is absolute and unconditional and shall not be affected by
      any
      circumstance whatsoever, including any amendment, renewal or extension of any
      Letter of Credit or the occurrence and continuance of a Default or reduction
      or
      termination of the Commitments, and that each such payment shall be made without
      any offset, abatement, withholding or reduction whatsoever.

     

    
    

    
      22

      
        

      

    

    
    

    

    (e)  Reimbursement.
      If the
      Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit,
      the Borrower shall reimburse such LC Disbursement by paying to the
      Administrative Agent an amount equal to such LC Disbursement not later than
      (i)
      12:00 noon, New York City time, on the date that such LC Disbursement is made,
      if the Borrower shall have received notice of such LC Disbursement prior to
      10:00 a.m., New York City time, on such date, or, (ii) if such notice has not
      been received by the Borrower prior to such time on such date, then not later
      than 12:00 noon, New York City time, on the Business Day immediately following
      the day that the Borrower receives such notice; provided that, if such LC
      Disbursement is not less than $100,000, the Borrower may, subject to the
      conditions to borrowing set forth herein, request in accordance with Section
      2.03 or 2.05 that such payment be financed with an ABR Revolving Borrowing
      or
      Swingline Loan in an equivalent amount and, to the extent so financed, the
      Borrower's obligation to make such payment shall be discharged and replaced
      by
      the resulting ABR Revolving Borrowing or Swingline Loan. If the Borrower fails
      to make such payment when due, the Administrative Agent shall notify each Lender
      of the applicable LC Disbursement, the payment then due from the Borrower in
      respect thereof and such Lender's Applicable Percentage thereof. Promptly
      following receipt of such notice, each Lender shall pay to the Administrative
      Agent its Applicable Percentage of the payment then due from the Borrower,
      in
      the same manner as provided in Section 2.07 with respect to Loans made by
      such Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment
      obligations of the Lenders), and the Administrative Agent shall promptly pay
      to
      the Issuing Bank the amounts so received by it from the Lenders. Promptly
      following receipt by the Administrative Agent of any payment from the Borrower
      pursuant to this paragraph, the Administrative Agent shall distribute such
      payment to the Issuing Bank or, to the extent that Lenders have made payments
      pursuant to this paragraph to reimburse the Issuing Bank, then to such Lenders
      and the Issuing Bank as their interests may appear. Any payment made by a Lender
      pursuant to this paragraph to reimburse the Issuing Bank for any LC Disbursement
      (other than the funding of ABR Revolving Loans or a Swingline Loan as
      contemplated above) shall not constitute a Loan and shall not relieve the
      Borrower of its obligation to reimburse such LC Disbursement.

     

    (f)  Obligations
      Absolute.
      The
      Borrower's obligation to reimburse LC Disbursements as provided in
      paragraph (e) of this Section shall be absolute, unconditional and
      irrevocable, and shall be performed strictly in accordance with the terms of
      this Agreement under any and all circumstances whatsoever and irrespective
      of
      (i) any lack of validity or enforceability of any Letter of Credit or this
      Agreement, or any term or provision therein, (ii) any draft or other document
      presented under a Letter of Credit proving to be forged, fraudulent or invalid
      in any respect or any statement therein being untrue or inaccurate in any
      respect, (iii) payment by the Issuing Bank under a Letter of Credit against
      presentation of a draft or other document that does not comply with the terms of
      such Letter of Credit, or (iv) any other event or circumstance whatsoever,
      whether or not similar to any of the foregoing, that might, but for the
      provisions of this Section, constitute a legal or equitable discharge of, or
      provide a right of setoff against, the Borrower's obligations hereunder, in
      each
      case other than to the extent of the fraud, gross negligence or willful
      misconduct of the Issuing Bank. Neither the Administrative Agent, the Lenders
      nor the Issuing Bank, nor any of their Related Parties, shall have any liability
      or responsibility by reason of or in connection with the issuance or transfer
      of
      any Letter of Credit or any payment or failure to make any payment thereunder
      (irrespective of any of the circumstances referred to in the preceding
      sentence), or any error, omission, interruption, loss or delay in transmission
      or delivery of any draft, notice or other communication under or relating to
      any
      Letter of Credit (including any document required to make a drawing thereunder),
      any error in interpretation of technical terms or any consequence arising from
      causes beyond the control of the Issuing Bank; provided that the foregoing
      shall
      not be construed to excuse the Issuing Bank from liability to the Borrower
      to
      the extent of any direct damages (as opposed to consequential damages, claims
      in
      respect of which are hereby waived by the Borrower to the extent permitted
      by
      applicable law) suffered by the Borrower that are caused by the Issuing Bank's
      failure to exercise care when determining whether drafts and other documents
      presented under a Letter of Credit comply with the terms thereof or that are
      caused by the Issuing Bank's grossly negligent or wilful failure to pay under
      any Letter of Credit after the presentation to it of a sight draft and
      certificates strictly in compliance with the terms and conditions of the Letter
      of Credit. The parties hereto expressly agree that, in the absence of fraud,
      gross negligence or willful misconduct on the part of the Issuing Bank (as
      finally determined by a court of competent jurisdiction), the Issuing Bank
      shall
      be deemed to have exercised care in each such determination. In furtherance
      of
      the foregoing and without limiting the generality thereof, the parties agree
      that, with respect to documents presented which appear on their face to be
      in
      substantial compliance with the terms of a Letter of Credit, the Issuing Bank
      may, in its sole discretion, either accept and make payment upon such documents
      without responsibility for further investigation, regardless of any notice
      or
      information to the contrary, or refuse to accept and make payment upon such
      documents if such documents are not in strict compliance with the terms of
      such
      Letter of Credit. 

    

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

       

    

    (g)  Disbursement
      Procedures.
      The
      Issuing Bank shall, promptly following its receipt thereof, examine all
      documents purporting to represent a demand for payment under a Letter of Credit.
      The Issuing Bank shall promptly notify the Administrative Agent and the Borrower
      by telephone (confirmed by telecopy) of such demand for payment and whether
      the
      Issuing Bank has made or will make an LC Disbursement thereunder; provided
      that
      any failure to give or delay in giving such notice shall not relieve the
      Borrower of its obligation to reimburse the Issuing Bank and the Lenders with
      respect to any such LC Disbursement. 

    

    (h)  Interim
      Interest.
      If the
      Issuing Bank shall make any LC Disbursement, then, unless the Borrower shall
      reimburse such LC Disbursement in full on the date such LC Disbursement is
      made,
      the unpaid amount thereof shall bear interest, for each day from and including
      the date such LC Disbursement is made to but excluding the date that the
      Borrower reimburses such LC Disbursement, at the rate per annum then applicable
      to ABR Revolving Loans; provided that, if the Borrower fails to reimburse such
      LC Disbursement when due pursuant to paragraph (e) of this Section, then
      Section 2.13(c) shall apply. Interest accrued pursuant to this paragraph shall
      be for the account of the Issuing Bank, except that interest accrued on and
      after the date of payment by any Lender pursuant to paragraph (e) of this
      Section to reimburse the Issuing Bank shall be for the account of such Lender
      to
      the extent of such payment.

    

    (i)  Replacement
      of the Issuing Bank.
      The
      Issuing Bank may be replaced at any time by written agreement among the
      Borrower, the Administrative Agent, the replaced Issuing Bank and the successor
      Issuing Bank. The Administrative Agent shall notify the Lenders of any such
      replacement of the Issuing Bank. At the time any such replacement shall become
      effective, the Borrower shall pay all unpaid fees accrued for the account of
      the
      replaced Issuing Bank pursuant to Section 2.12(b). From and after the effective
      date of any such replacement, (i) the successor Issuing Bank shall have all
      the
      rights and obligations of the Issuing Bank under this Agreement with respect
      to
      Letters of Credit to be issued thereafter and (ii) references herein to the
      term
“Issuing Bank” shall be deemed to refer to such successor or to any previous
      Issuing Bank, or to such successor and all previous Issuing Banks, as the
      context shall require. After the replacement of an Issuing Bank hereunder,
      the
      replaced Issuing Bank shall remain a party hereto and shall continue to have
      all
      the rights and obligations of an Issuing Bank under this Agreement with respect
      to Letters of Credit issued by it prior to such replacement, but shall not
      be
      required to issue additional Letters of Credit.

     

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

    

    (j)  Cash
      Collateralization.
      If any
      Event of Default shall occur and be continuing, on the Business Day that the
      Borrower receives notice from the Administrative Agent or the Required Lenders
      (or, if the maturity of the Loans has been accelerated, Lenders with LC Exposure
      representing greater than 66-2/3% of the total LC Exposure) demanding the
      deposit of cash collateral pursuant to this paragraph, the Borrower shall
      deposit in an account with the Administrative Agent, in the name of the
      Administrative Agent and for the benefit of the Lenders, an amount in cash
      equal
      to the LC Exposure as of such date plus any accrued and unpaid interest thereon;
      provided that the obligation to deposit such cash collateral shall become
      effective immediately, and such deposit shall become immediately due and
      payable, without demand or other notice of any kind, upon the occurrence of
      any
      Event of Default with respect to the Borrower described in clause (h) or
      (i) of Article VII. Such deposit shall be held by the Administrative Agent
      as collateral for the payment and performance of the obligations of the Borrower
      under this Agreement. The Administrative Agent shall have exclusive dominion
      and
      control, including the exclusive right of withdrawal, over such account. Other
      than any interest earned on the investment of such deposits, which investments
      shall be made at the option and sole discretion of the Administrative Agent
      and
      at the Borrower's risk and expense, such deposits shall not bear interest.
      Interest or profits, if any, on such investments shall accumulate in such
      account. Moneys in such account shall be applied by the Administrative Agent
      to
      reimburse the Issuing Bank for LC Disbursements for which it has not been
      reimbursed and, to the extent not so applied, shall be held for the satisfaction
      of the reimbursement obligations of the Borrower for the LC Exposure at such
      time or, if the maturity of the Loans has been accelerated (but subject to
      the
      consent of Lenders with LC Exposure representing greater than 66-2/3% of the
      total LC Exposure), be applied to satisfy other obligations of the Borrower
      under this Agreement. If the Borrower is required to provide an amount of cash
      collateral hereunder as a result of the occurrence of an Event of Default,
      such
      amount (to the extent not applied as aforesaid) shall be returned to the
      Borrower within three Business Days after all Events of Default have been cured
      or waived.

    (k)      
      Existing
      Letters of Credit.
      The
      Company, the Administrative Agent and the Lenders agree that, from and after
      the
      Closing Date, subject to the satisfaction of the conditions precedent set forth
      in Article IV hereof, the Existing Letters of Credit shall be Letters of Credit
      for all purposes of the Agreement.

    

    Section
      2.07  Funding
      of Borrowings. 

    

    (a)  Each
      Lender shall make each Loan to be made by it hereunder on the proposed date
      thereof by wire transfer of immediately available funds by 12:00 noon, New
      York
      City time, to the account of the Administrative Agent most recently designated
      by it for such purpose by notice to the Lenders; provided that Swingline Loans
      shall be made as provided in Section 2.05. The Administrative Agent will
      make such Loans available to the Borrower by promptly crediting the amounts
      so
      received, in like funds, to an account of the Borrower maintained with the
      Administrative Agent in New York City and designated by the Borrower in the
      applicable Borrowing Request; provided that ABR Revolving Loans made to finance
      the reimbursement of an LC Disbursement as provided in Section 2.06(e) shall
      be
      remitted by the Administrative Agent to the Issuing Bank.

    

    (b)  Unless
      the
      Administrative Agent shall have received notice from a Lender prior to the
      proposed date of any Borrowing that such Lender will not make available to
      the
      Administrative Agent such Lender's share of such Borrowing, the Administrative
      Agent may assume that such Lender has made such share available on such date
      in
      accordance with paragraph (a) of this Section and may, in reliance upon such
      assumption, make available to the Borrower a corresponding amount. In such
      event, if a Lender has not in fact made its share of the applicable Borrowing
      available to the Administrative Agent, then the applicable Lender and the
      Borrower severally agree to pay to the Administrative Agent forthwith on demand
      such corresponding amount with interest thereon, for each day from and including
      the date such amount is made available to the Borrower to but excluding the
      date
      of payment to the Administrative Agent, at 

    

    (i)  in
      the
      case of such Lender, the greater of the Federal Funds Effective Rate and a
      rate
      determined by the Administrative Agent in accordance with banking industry
      rules
      on interbank compensation or 

    

    
      
        
        

      

      
        25

        
          

        

      

      
        
        

      

       

    

    (ii)  in
      the
      case of the Borrower, the interest rate otherwise applicable to such Loans.
      If
      such Lender pays such amount to the Administrative Agent, then such amount
      shall
      constitute such Lender's Loan included in such Borrowing.

    

    Nothing
      contained in this Section 2.07 shall be deemed to reduce the Commitment of
      any
      Lender or in any way affect the rights of Borrower with respect to any
      defaulting Lender or Administrative Agent. The failure of any Lender to make
      available to the Administrative Agent such Lender's share of any Borrowing
      in
      accordance herewith shall not relieve any other Lender of its obligations to
      fund its Commitment, in accordance with the provisions hereof.

    

    Section
      2.08  Interest
      Elections. 

    

    (a)  Each
      Revolving Borrowing initially shall be of the Type specified in the applicable
      Borrowing Request and, in the case of a Eurodollar Borrowing, shall have an
      initial Interest Period as specified in such Borrowing Request. Thereafter,
      the
      Borrower may elect to convert such Borrowing to a different Type or to continue
      such Borrowing and, in the case of a Eurodollar Borrowing, may elect Interest
      Periods therefor, all as provided in this Section. The Borrower may elect
      different options with respect to different portions of the affected Borrowing,
      in which case each such portion shall be allocated ratably among the Lenders
      holding the Loans comprising such Borrowing, and the Loans comprising each
      such
      portion shall be considered a separate Borrowing. This Section shall not apply
      to Swingline Borrowings, which may not be converted or continued.

    

    (b)  To
      make an
      election pursuant to this Section, the Borrower shall notify the Administrative
      Agent of such election by telephone by the time that a Borrowing Request would
      be required under Section 2.03 if the Borrower were requesting a Revolving
      Borrowing of the Type resulting from such election to be made on the effective
      date of such election. Each such telephonic Interest Election Request shall
      be
      irrevocable and shall be confirmed promptly by hand delivery or telecopy to
      the
      Administrative Agent of a written Interest Election Request in the form attached
      as Exhibit E and signed by the Borrower.

    

    (c)  Each
      telephonic and written Interest Election Request shall specify the following
      information in compliance with Section 2.02:

    

    (i)  the
      Borrowing to which such Interest Election Request applies and, if different
      options are being elected with respect to different portions thereof, the
      portions thereof to be allocated to each resulting Borrowing (in which case
      the
      information to be specified pursuant to clauses (iii) and (iv) below shall
      be
      specified for each resulting Borrowing);

    

    (ii)  the
      effective date of the election made pursuant to such Interest Election Request,
      which shall be a Business Day;

    

    (iii)  whether
      the resulting Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;
      and

    

    (iv)  if
      the
      resulting Borrowing is a Eurodollar Borrowing, the Interest Period to be
      applicable thereto after giving effect to such election, which shall be a period
      contemplated by the definition of the term “Interest Period”.

    

    If
      any
      such Interest Election Request requests a Eurodollar Borrowing but does not
      specify an Interest Period, then the Borrower shall be deemed to have selected
      an Interest Period of one month's duration.

    

    
      
        
        

      

      
        26

        
          

        

      

      
        
        

      

       

    

    (d)  Promptly
      following receipt of an Interest Election Request, the Administrative Agent
      shall advise each Lender of the details thereof and of such Lender's portion
      of
      each resulting Borrowing.

    

    (e)  If
      the
      Borrower fails to deliver a timely Interest Election Request with respect to
      a
      Eurodollar Borrowing prior to the end of the Interest Period applicable thereto,
      then, unless such Borrowing is repaid as provided herein, at the end of such
      Interest Period such Borrowing shall be converted to an ABR Borrowing.
      Notwithstanding any contrary provision hereof, if an Event of Default has
      occurred and is continuing and the Administrative Agent, at the request of
      the
      Required Lenders, so notifies the Borrower, then, so long as an Event of Default
      is continuing (i) no outstanding Revolving Borrowing may be converted to or
      continued as a Eurodollar Borrowing and (ii) unless repaid, each Eurodollar
      Borrowing shall be converted to an ABR Borrowing at the end of the Interest
      Period applicable thereto.

    

    Section
      2.09  Termination
      and Reduction of Commitments. 

    

    (a)  Unless
      previously terminated, the Commitments shall termi-nate on the Maturity Date.
      

    

    (b)  The
      Borrower may at any time terminate, or from time to time reduce, the
      Commitments; provided that (i) each reduction of the Commitments shall be in
      an
      amount that is an integral multiple of $5,000,000 and (ii) the Borrower shall
      not terminate or reduce the Commitments if, after giving effect to any
      concurrent prepayment of the Loans in accordance with Section 2.11, the sum
      of
      the Revolving Credit Exposures would exceed the total Commitments.

    

    (c)  The
      Borrower shall notify the Administrative Agent of any election to terminate
      or
      reduce the Commitments under paragraph (b) of this Section at least three
      Business Days prior to the effective date of such termination or reduction,
      specifying such election and the effective date thereof. Promptly following
      receipt of any notice, the Administrative Agent shall advise the Lenders of
      the
      contents thereof. Each notice delivered by the Borrower pursuant to this Section
      shall be irrevocable; provided that a notice of termination of the Commitments
      delivered by the Borrower may state that such notice is conditioned upon the
      effectiveness of other credit facilities, in which case such notice may be
      revoked by the Borrower (by notice to the Administrative Agent on or prior
      to
      the specified effective date) if such condition is not satisfied. Any
      termination or reduction of the Commitments shall be permanent. Each reduction
      of the Commitments shall be made ratably among the Lenders in accordance with
      their respective Commitments.

    

    Section
      2.10  Repayment of
      Loans; Evidence of Debt. 

    

    (a)  The
      Borrower hereby unconditionally promises to pay 

    

    (i)  to
      the
      Administrative Agent for the account of each Lender, the then unpaid principal
      amount of each Revolving Loan on the Maturity Date, and

    

    (ii)  to
      the
      Swingline Lender, the then unpaid principal amount of each Swingline Loan on
      or
      before the fifth Business Day after such Swingline Loan is made. 

    

    (b)  Each
      Lender shall maintain in accordance with its usual practice an account or
      accounts evidencing the indebtedness of the Borrower to such Lender resulting
      from each Loan made by such Lender, including the amounts of principal and
      interest payable and paid to such Lender from time to time
      hereunder.

    

    
      
        
        

      

      
        27

        
          

        

      

      
        
        

      

       

    

    (c)  The
      Administrative Agent shall maintain accounts in which it shall record

    

    (i)       
      the
      amount
      of each Loan made hereunder, the Class and Type thereof and the Interest Period
      applicable thereto,

     

    (ii)      
      the
      amount
      of any principal or interest due and payable or to become due and payable from
      the Borrower to each Lender hereunder and

     

    (iii)     
      the
      amount
      of any sum received by the Administrative Agent hereunder for the account of
      the
      Lenders and each Lender's share thereof.

    

    (d)  The
      entries made in the accounts maintained pursuant to paragraph (b)
      or (c) of this Section shall be prima facie evidence of the existence and
      amounts of the obligations recorded therein; provided that the failure of any
      Lender or the Administrative Agent to maintain such accounts or any error
      therein shall not in any manner affect the obligation of the Borrower to repay
      the Loans in accordance with the terms of this Agreement.

    

    (e)  Any
      Lender
      may request that Loans made by it be evidenced by a Revolving Note. In such
      event, the Borrower shall prepare, execute and deliver to such Lender a
      Revolving Note payable to the order of such Lender (or, if requested by such
      Lender, to such Lender and its registered assigns) and in a form approved by
      the
      Administrative Agent. Thereafter, the Loans evidenced by such Revolving Note
      and
      interest thereon shall at all times (including after assignment pursuant to
      Section 9.04) be represented by one or more Revolving Notes in such form payable
      to the order of the payee named therein.

    

    Section
      2.11  Prepayment
      of Loans. 

    

    (a)  The
      Borrower shall have the right at any time and from time to time to prepay any
      Borrowing in whole or in part, subject to prior notice in accordance with
      paragraph (b) of this Section.

    

    (b)  The
      Borrower shall notify the Administrative Agent (and, in the case of prepayment
      of a Swingline Loan, the Swingline Lender) by telephone (confirmed by telecopy)
      of any prepayment hereunder 

    

    (i)  in
      the
      case of prepayment of a Eurodollar Borrowing, not later than 12:00 noon, New
      York City time, three Business Days before the date of prepayment, 

    

    (ii)  in
      the
      case of prepayment of an ABR Revolving Borrowing, not later than 12:00 noon,
      New
      York City time, one Business Day before the date of prepayment or 

    

    (iii)  in
      the
      case of prepayment of a Swingline Loan, not later than 2:00 p.m., New York
      City
      time, on the date of prepayment.

     

    
    

    
      28

      
        

      

    

    
    

    

    Each
      such
      notice shall be irrevocable and shall specify the prepayment date and the
      principal amount of each Borrowing or portion thereof to be prepaid; provided
      that, if a notice of prepayment is given in connection with a conditional notice
      of termination of the Commitments as contemplated by Section 2.09, then
      such notice of prepayment may be revoked if such notice of termination is
      revoked in accordance with Section 2.09. Promptly following receipt of any
      such notice relating to a Revolving Borrowing, the Administrative Agent shall
      advise the Lenders of the contents thereof. Each partial prepayment of any
      Revolving Borrowing shall be in the minimum amount of $1,000,000, in the case
      of
      repayment of a Eurodollar Borrowing, and $500,000, in the case of repayment
      of
      an ABR Borrowing that would be permitted in the case of an advance of a
      Revolving Borrowing of the same Type as provided in Section 2.02. Each
      prepayment of a Revolving Borrowing shall be applied ratably to the Loans
      included in the prepaid Borrowing. Prepayments shall be accompanied by accrued
      interest to the extent required by Section 2.13.

     

    Section
      2.12  Fees. 

    

    (a)  The
      Borrower agrees to pay to the Administrative Agent for the account of each
      Lender an unused fee, which shall accrue at the Unused Fee Rate on the average
      daily Unused Commitment of such Lender during the period from and including
      the
      Effective Date to but excluding the date on which such Commitment terminates.
      Accrued Unused Fees shall be payable in arrears on the last day of March, June,
      September and December of each year and on the date on which the Commitments
      terminate, commencing on the first such date to occur after the date hereof;
      provided that any Unused Fees accruing after the date on which the Commitments
      terminate shall be payable on demand. All Unused Fees shall be computed on
      the
      basis of a year of 360 days and shall be payable for the actual number of days
      elapsed (including the first day but excluding the last day). 

    

    (b)  The
      Borrower agrees to pay 

    

    (i)  to
      the
      Administrative Agent for the account of each Lender a participation fee with
      respect to its participations in Letters of Credit, which shall accrue at the
      same Applicable Rate used to determine the interest rate applicable to
      Eurodollar Loans on the average daily amount of such Lender's LC Exposure
      (excluding any portion thereof attributable to unreimbursed LC Disbursements)
      during the period from and including the Effective Date to but excluding the
      later of the date on which such Lender's Commitment terminates and the date
      on
      which such Lender ceases to have any LC Exposure, and 

    

    (ii)  to
      the
      Issuing Bank a fronting fee, which shall accrue at the rate 0.125% per annum
      on
      the average daily amount of the LC Exposure (excluding any portion thereof
      attributable to unreimbursed LC Disbursements) during the period from and
      including the Effective Date to but excluding the later of the date of
      termination of the Commitments and the date on which there ceases to be any
      LC
      Exposure, as well as, without duplication, the Issuing Bank's standard fees
      with
      respect to the issuance, amendment, renewal or extension of any Letter of Credit
      or processing of drawings thereunder. Participation fees and fronting fees
      accrued through and including the last day of March, June, September and
      December of each year shall be payable on the third Business Day following
      such
      last day, commencing on the first such date to occur after the Effective Date;
      provided that all such fees shall be payable on the date on which the
      Commitments terminate and any such fees accruing after the date on which the
      Commitments terminate shall be payable on demand. Any other fees payable to
      the
      Issuing Bank pursuant to this paragraph shall be payable within 10 days after
      demand. All participation fees and fronting fees shall be computed on the basis
      of a year of 360 days and shall be payable for the actual number of days elapsed
      (including the first day but excluding the last day).

    

    
      
        
        

      

      
        29

        
          

        

      

      
        
        

      

       

    

    (c)  The
      Borrower agrees to pay to the Administrative Agent, for its own account, fees
      payable in the amounts and at the times separately agreed upon between the
      Borrower and the Administrative Agent.

    

    (d)  All
      fees
      payable hereunder shall be paid on the dates due, in immediately available
      funds, to the Administrative Agent (or to the Issuing Bank, in the case of
      fees
      payable to it) for distribution, in the case of the unused fee and participation
      fees, to the Lenders. Fees paid shall not be refundable under any
      circumstances.

    

    Section
      2.13  Interest. 

    

    (a)  The
      Loans
      comprising each ABR Borrowing (including each Swingline Loan) shall bear
      interest at the Alternate Base Rate plus the Applicable Rate.

    

    (b)  The
      Loans
      comprising each Eurodollar Borrowing shall bear interest at the Adjusted LIBO
      Rate for the Interest Period in effect for such Borrowing plus the Applicable
      Rate. 

    

    (c)  Notwithstanding
      the foregoing, if any principal of or interest on any Loan or any fee or other
      amount payable by the Borrower hereunder is not paid when due, whether at stated
      maturity, upon acceleration or otherwise, such overdue amount shall bear
      interest, after as well as before judgment, at a rate per annum equal to

    

    (i)  in
      the
      case of overdue principal of any Loan, 2% plus the rate otherwise applicable
      to
      such Loan as provided in the preceding paragraphs of this Section or

    

    (ii)  in
      the
      case of any other amount, 2% plus the rate applicable to ABR Loans as provided
      in paragraph (a) of this Section.

    

    (d)  Accrued
      interest on each Loan shall be payable in arrears on each Interest Payment
      Date
      for such Loan and, in the case of Revolving Loans, upon termination of the
      Commitments; provided that 

    

    (i)  interest
      accrued pursuant to paragraph (c) of this Section shall be payable on demand,
      

    

    (ii)  in
      the
      event of any repayment or prepayment of any Loan (other than a prepayment of
      an
      ABR Revolving Loan prior to the end of the Availability Period), accrued
      interest on the principal amount repaid or prepaid shall be payable on the
      date
      of such repayment or prepayment and 

    

    (iii)  in
      the
      event of any conversion of any Eurodollar Loan prior to the end of the current
      Interest Period therefor, accrued interest on such Loan shall be payable on
      the
      effective date of such conversion.

    

    (e)  All
      interest hereunder shall be computed on the basis of a year of 360 days, except
      that interest computed by reference to the Alternate Base Rate at times when
      the
      Alternate Base Rate is based on the Prime Rate shall be computed on the basis
      of
      a year of 365 days (or 366 days in a leap year), and in each case shall be
      payable for the actual number of days elapsed (including the first day but
      excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO
      Rate
      or LIBO Rate shall be determined by the Administrative Agent, and such
      determination shall be conclusive absent manifest error.

    

    
      
        
        

      

      
        30

        
          

        

      

      
        
        

      

       

    

    Section
      2.14  Alternate
      Rate of Interest.
      If prior
      to the commencement of any Interest Period for a Eurodollar
      Borrowing:

    

    (a)  the
      Administrative Agent determines (which determination shall be conclusive absent
      manifest error) that adequate and reasonable means do not exist for ascertaining
      the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest
      Period; or

    

    (b)  the
      Administrative Agent is advised by the Required Lenders that such Lenders are
      unable to match funds in the London interbank market and that the Adjusted
      LIBO
      Rate or the LIBO Rate, as applicable, for such Interest Period will not
      adequately and fairly reflect the cost to such Lenders (or Lender) of making
      or
      maintaining their Loans (or its Loan) included in such Borrowing for such
      Interest Period;

    

    then
      the
      Administrative Agent shall give notice thereof to the Borrower and the Lenders
      by telephone or telecopy as promptly as practicable thereafter and, until the
      Administrative Agent notifies the Borrower and the Lenders that the
      circumstances giving rise to such notice no longer exist, 

    

    (i)  any
      Interest Election Request that requests the conversion of any Revolving
      Borrowing to, or continuation of any Revolving Borrowing as, a Eurodollar
      Borrowing shall be ineffective and 

    

    (ii)  if
      any
      Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be
      made
      as an ABR Borrowing; provided that if the circumstances giving rise to such
      notice affect only one Type of Borrowings, then the other Type of Borrowings
      shall be permitted.

    

    Section
      2.15  Increased
      Costs. 

    

    (a)  If
      any
      Change in Law shall:

    

    (i)  impose,
      modify or deem applicable any reserve, special deposit or similar requirement
      against assets of, deposits with or for the account of, or credit extended
      by,
      any Lender (except any such reserve requirement reflected in the Adjusted LIBO
      Rate) or the Issuing Bank; or

    

    (ii)  impose
      on
      any Lender or the Issuing Bank or the London interbank market any other
      condition affecting this Agreement or Eurodollar Loans made by such Lender
      or
      any Letter of Credit or participation therein;

    

    and
      the
      result of any of the foregoing shall be to increase the cost to such Lender
      of
      making or main-taining any Eurodollar Loan (or of maintaining its obligation
      to
      make any such Loan) or to increase the cost to such Lender or the Issuing Bank
      of participating in, issuing or maintaining any Letter of Credit or to reduce
      the amount of any sum received or receiv-able by such Lender or the Issuing
      Bank
      hereunder (whether of principal, interest or otherwise), then the Borrower
      will
      pay to such Lender or the Issuing Bank, as the case may be, such additional
      amount or amounts as will compensate such Lender or the Issuing Bank, as the
      case may be, for such additional costs incurred or reduction
      suffered.

    

    
      
        
        

      

      
        31

        
          

        

      

      
        
        

      

       

    

    (b)  If
      any
      Lender or the Issuing Bank determines that any Change in Law regarding capital
      requirements has or would have the effect of reducing the rate of return on
      such
      Lender's or the Issuing Bank's capital or on the capital of such Lender's or
      the
      Issuing Bank's holding company, if any, as a consequence of this Agreement
      or
      the Loans made by, or participations in Letters of Credit held by, such Lender,
      or the Letters of Credit issued by the Issuing Bank, to a level below that
      which
      such Lender or the Issuing Bank or such Lender's or the Issuing Bank's holding
      company could have achieved but for such Change in Law (taking into
      consideration such Lender's or the Issuing Bank's policies and the policies
      of
      such Lender's or the Issuing Bank's holding company with respect to capital
      adequacy), then from time to time the Borrower will pay to such Lender or the
      Issuing Bank, as the case may be, such additional amount or amounts as will
      compensate such Lender or the Issuing Bank or such Lender's or the Issuing
      Bank's holding company for any such reduction suffered.

    

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

    

    (d)  Failure
      or
      delay on the part of any Lender or the Issuing Bank to demand compensation
      pursuant to this Section shall not constitute a waiver of such Lender's or
      the
      Issuing Bank's right to demand such compensation; provided that the Borrower
      shall not be required to compensate a Lender or the Issuing Bank pursuant to
      this Section for any increased costs or reductions incurred more than 270 days
      prior to the date that such Lender or the Issuing Bank, as the case may be,
      notifies the Borrower of the Change in Law giving rise to such increased costs
      or reductions and of such Lender's or the Issuing Bank's intention to claim
      compensation therefor; provided further that, if the Change in Law giving rise
      to such increased costs or reductions is retroactive, then the 270-day period
      referred to above shall be extended to include the period of retroactive effect
      thereof.

    

    Section
      2.16  Break
      Funding Payments.
      In the
      event of 

    

    (a)  the
      payment of any principal of any Eurodollar Loan other than on the last day
      of an
      Interest Period applicable thereto (including as a result of an Event of
      Default), 

    

    (b)  the
      conversion of any Eurodollar Loan other than on the last day of the Interest
      Period applicable thereto, 

    

    (c)  the
      failure to borrow, convert, continue or prepay any Eurodollar Loan on the date
      specified in any notice delivered pursuant hereto (regardless of whether such
      notice may be revoked under Section 2.11(b) and is revoked in accordance
      therewith), or 

    

    (d)  the
      assignment of any Eurodollar Loan other than on the last day of the Interest
      Period applicable thereto as a result of a request by the Borrower pursuant
      to
      Section 2.19, 

    

    then,
      in
      any such event, the Borrower shall compensate each Lender for the loss, cost
      and
      expense attributable to such event. Without duplication, in the case of a
      Eurodollar Loan, such loss, cost or expense to any Lender shall be deemed to
      include, an amount determined by such Lender to be the excess, if any,
      of:

    

    (i)  the
      amount
      of interest which would have accrued on the principal amount of such Loan had
      such event not occurred, at the Adjusted LIBO Rate that would have been
      applicable to such Loan, for the period from the date of such event to the
      last
      day of the then current Interest Period therefor (or, in the case of a failure
      to borrow, convert or continue, for the period that would have been the Interest
      Period for such Loan), over 

    

    
      
        
        

      

      
        32

        
          

        

      

      
        
        

      

       

    

    (ii)  the
      amount
      of interest which would accrue on such principal amount for such period at
      the
      interest rate which such Lender would bid were it to bid, at the commencement
      of
      such period, for dollar deposits of a comparable amount and period from other
      banks in the eurodollar market. A certifi-cate of any Lender setting forth
      any
      amount or amounts that such Lender is entitled to receive pursuant to this
      Section shall be delivered to the Borrower and shall be conclusive absent
      manifest error. The Borrower shall pay such Lender the amount shown as due
      on
      any such certificate within 10 Business Days after receipt thereof.

    

    Section
      2.17  Taxes. 

    

    (a)  Any
      and
      all payments by or on account of any obligation of the Borrower hereunder shall
      be made free and clear of and without deduction for any Indemnified Taxes or
      Other Taxes; provided that if the Borrower shall be required to deduct any
      Indemnified Taxes or Other Taxes from such payments, then 

     

    
                  (i)       
        the sum payable shall be increased as necessary so that after making all
        required deductions (including deductions applicable to additional sums payable
        under
        this
        Section) the Administrative Agent, Lender or Issuing Bank (as the case may
        be)
        receives an amount equal to the sum it would have received had no such
        deductions been made,

       

    

                (ii)      
      the
      Borrower shall make such deductions and 

    

    (iii)     
      the
      Borrower shall pay the full amount deducted to the relevant Governmental
      Authority in accordance with applicable law. 

    

    (b)  In
      addition, the Borrower shall pay any Other Taxes to the relevant Governmental
      Authority in accordance with applicable law.

    

    (c)  The
      Borrower shall indemnify the Administrative Agent, each Lender and the Issuing
      Bank, within 10 days after written demand therefor, for the full amount of
      any
      Indemnified Taxes or Other Taxes paid by the Administrative Agent, such Lender
      or the Issuing Bank, as the case may be, on or with respect to any payment
      by or
      on account of any obligation of the Borrower hereunder (including Indemnified
      Taxes or Other Taxes imposed or asserted on or attributable to amounts payable
      under this Section) and any penalties, interest and reasonable expenses arising
      therefrom or with respect thereto, provided, that, as to penalties, interest
      or
      expenses relating to Indemnified Taxes or Other Taxes, the Administrative Agent
      or such Lender has provided reasonably prompt notice to Borrower after any
      officer of the Administrative Agent or such Lender who is actively involved
      in
      the administration or enforcement of the Loans first becomes aware of such
      Indemnified Taxes or Other Taxes, whether or not such Indemnified Taxes or
      Other
      Taxes were correctly or legally imposed or asserted by the relevant Governmental
      Authority. A certificate as to the amount of such payment or liability delivered
      to the Borrower by a Lender or the Issuing Bank, or by the Administrative Agent
      on its own behalf or on behalf of a Lender or the Issuing Bank, shall be
      conclusive absent manifest error. 

    

    (d)  As
      soon as
      practicable after any payment of Indemnified Taxes or Other Taxes by the
      Borrower to a Governmental Authority, the Borrower shall deliver to the
      Administrative Agent the original or a certified copy of a receipt issued by
      such Governmental Authority evidencing such payment, a copy of the return
      reporting such payment or other evidence of such payment reasonably satisfactory
      to the Administrative Agent.

    

    
      
        
        

      

      
        33

        
          

        

      

      
        
        

      

       

    

    (e)  Any
      Foreign Lender that is entitled to an exemption from or reduction of withholding
      tax under the law of the jurisdiction in which the Borrower is located, or
      any
      treaty to which such jurisdiction is a party, with respect to payments under
      this Agreement shall deliver to the Borrower (with a copy to the Administrative
      Agent), at the time or times prescribed by applicable law, such properly
      completed and executed documentation prescribed by applicable law or reasonably
      requested by the Borrower as will permit such payments to be made without
      withholding or at a reduced rate.

    

    (f)  If
      the
      Administrative Agent or a Lender determines, in its reasonable good faith
      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 2.17, 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 2.17 with
      respect to the Taxes or Other Taxes giving rise to such refund), net of all
      out-of-pocket expenses of the Administrative Agent or such Lender and 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
      the Administrative Agent or such Lender, agrees to repay the amount paid over
      to
      the Borrower (plus any penalties, interest or other charges imposed by the
      relevant Governmental Authority to the extent imposed due to any act or failure
      to act on the part of the Borrower) to the Administrative Agent or such Lender
      in the event the Administrative Agent or such Lender is required to repay such
      refund to such Governmental Authority. This Section shall not be construed
      to
      require the Administrative Agent or any Lender to make available its tax returns
      (or any other information relating to its taxes which it deems confidential)
      to
      the Borrower or any other Person. 

    

    Section
      2.18  Payments
      Generally; Pro Rata Treatment; Sharing of Set-offs. 

    

    (a)  The
      Borrower shall make each payment required to be made by it hereunder (whether
      of
      principal, interest, fees or reimbursement of LC Disbursements, or of amounts
      payable under Section 2.15, 2.16 or 2.17, or otherwise) prior to 12:00 noon,
      New
      York City time, on the date when due, in immediately available funds, without
      set-off or counterclaim. Any amounts received after such time on any date may,
      in the discretion of the Administrative Agent, be deemed to have been received
      on the next succeeding Business Day for purposes of calculating interest
      thereon. All such payments shall be made to the Administrative Agent at its
      offices at 270 Park Avenue, New York, New York, except payments to be made
      directly to the Issuing Bank or Swingline Lender as expressly provided herein
      and except that payments pursuant to Sections 2.15, 2.16, 2.17 and 9.03 shall
      be
      made directly to the Persons entitled thereto. The Administrative Agent shall
      distribute any such payments received by it for the account of any other Person
      to the appropriate recipient promptly following receipt thereof. If any payment
      hereunder shall be due on a day that is not a Business Day, the date for payment
      shall be extended to the next succeeding Business Day, and, in the case of
      any
      payment accruing interest, interest thereon shall be payable for the period
      of
      such extension. All payments hereunder shall be made in dollars.

    

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

    

    
      
        
        

      

      
        34

        
          

        

      

      
        
        

      

       

    

    (c)  If
      any
      Lender shall, by exercising any right of set-off or counterclaim or otherwise,
      obtain payment in respect of any principal of or interest on any of its
      Revolving Loans or participations in LC Disbursements or Swingline Loans
      resulting in such Lender receiving payment of a greater proportion of the
      aggregate amount of its Revolving Loans and participations in LC Disbursements
      and Swingline Loans and accrued interest thereon than the proportion received
      by
      any other Lender, then the Lender receiving such greater proportion shall
      purchase (for cash at face value) participations in the Revolving Loans and
      participations in LC Disbursements and Swingline Loans of other Lenders to
      the
      extent necessary so that the benefit of all such payments shall be shared by
      the
      Lenders ratably in accordance with the aggregate amount of principal of and
      accrued interest on their respective Revolving Loans and participations in
      LC
      Disbursements and Swingline Loans; provided that (i) if any such participations
      are purchased and all or any portion of the payment giving rise thereto is
      recovered, such participations shall be rescinded and the purchase price
      restored to the extent of such recovery, without interest, and (ii) the
      provisions of this paragraph shall not be construed to apply to any payment
      made
      by the Borrower pursuant to and in accordance with the express terms of this
      Agreement or any payment obtained by a Lender as consideration for the
      assignment of or sale of a participation in any of its Loans or participations
      in LC Disbursements to any assignee or participant, other than to the Borrower
      or any Subsidiary or Affiliate thereof (as to which the provisions of this
      paragraph shall apply). The Borrower consents to the foregoing and agrees,
      to
      the extent it may effectively do so under applicable law, that any Lender
      acquiring a participation pursuant to the foregoing arrangements may exercise
      against the Borrower rights of set-off and counterclaim with respect to such
      participation as fully as if such Lender were a direct creditor of the Borrower
      in the amount of such participation.

    

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

    

    (e)  If
      any
      Lender shall fail to make any payment required to be made by it pursuant to
      Section 2.05(c), 2.06(d) or (e), 2.07(b), 2.18(d) or 9.03(c), then the
      Administrative Agent may, in its discretion (notwithstanding any contrary
      provision hereof), apply any amounts thereafter received by the Administrative
      Agent for the account of such Lender to satisfy such Lender's obligations under
      such Sections until all such unsatisfied obligations are fully
      paid.

    

    Section
      2.19  Mitigation
      Obligations; Replacement of Lenders. 

    

    (a)  If
      any
      Lender requests compensation under Section 2.15, or if the Borrower is
      required to pay any additional amount to any Lender or any Governmental
      Authority for the account of any Lender pursuant to Section 2.17, then such
      Lender shall use reasonable efforts to designate a different lending office
      for
      funding or booking its Loans hereunder or to assign its rights and obligations
      hereunder to another of its offices, branches or affiliates, if, in the judgment
      of such Lender, such designation or assignment.

     

    
      
        
        

      

      
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    (i)  would
      eliminate or reduce amounts payable pursuant to Section 2.15 or 2.17, as the
      case may be, in the future and 

    

    (ii)  would
      not
      subject such Lender to any unreimbursed cost or expense and would not otherwise
      be disadvantageous to such Lender. The Borrower hereby agrees to pay all
      reasonable costs and expenses incurred by any Lender in connection with any
      such
      designation or assignment.

    

    (b)  If
      any
      Lender requests compensation under Section 2.15, or if the Borrower is
      required to pay any additional amount to any Lender or any Governmental
      Authority for the account of any Lender pursuant to Section 2.17, or if any
      Lender defaults in its obligation to fund Loans hereunder, then the Borrower
      may, at its sole expense and effort, upon notice to such Lender and the
      Administrative Agent, require such Lender to assign and delegate, without
      recourse (in accordance with and subject to the restrictions contained in
      Section 9.04), all its interests, rights and obligations under this
      Agreement to an assignee that shall assume such obligations (which assignee
      may
      be another Lender, if a Lender accepts such assignment); provided that

    

    (i)  the
      Borrower shall have received the prior written consent of the Administrative
      Agent (and if a Commitment is being assigned, the Issuing Bank), which consent
      shall not unrea-sonably be withheld, 

    

    (ii)  such
      Lender shall have received payment of an amount equal to the outstanding
      principal of its Loans and participations in LC Disbursements and Swingline
      Loans, accrued interest thereon, accrued fees and all other amounts payable
      to
      it hereunder, from the assignee (to the extent of such outstanding principal
      and
      accrued interest and fees) or the Borrower (in the case of all other amounts)
      and 

    

    (iii)  in
      the
      case of any such assignment resulting from a claim for compensation under
      Section 2.15 or payments required to be made pursuant to Section 2.17,
      such assignment will result in a reduction in such compensation or payments.
      A
      Lender shall not be required to make any such assignment and delegation if,
      prior thereto, as a result of a waiver by such Lender or otherwise, the
      circumstances entitling the Borrower to require such assignment and delegation
      cease to apply. 

    

    Section
      2.20  Extension
      of Maturity Date.
      The
      Borrower shall have the option to extend the Maturity Date for one year to
      March
      27, 2012; provided
      that no
      Default or Event of Default exists at the time of such extension (that has
      not
      been waived). The Borrower may exercise the option granted pursuant to this
      Section 2.20 by delivery to the Administrative Agent (i) written notice of
      its
      intention to extend the Maturity Date not more than 90 days, nor less than
      30
      days, prior to the Maturity Date as in effect prior to exercising this option
      and (ii) an extension fee of one-tenth of one percent (0.10%) of the Total
      Commitments, as in effect on the effective date of such extension, to the
      Administrative Agent for the ratable benefit of the Lenders.

    

    ARTICLE
      III.

     

    Representations
      and Warranties

    

    
      
        
        

      

      
        36

        
          

        

      

      
        
        

      

       

    

    The
      Borrower represents and warrants to the Lenders that: 

    

    Section
      3.01  Organization;
      Powers.
      Each of
      the Borrower and its Subsidiaries is duly organized, validly existing and in
      good standing under the laws of the jurisdiction of its organization, has all
      requisite power and authority to carry on its business as now conducted and,
      except where the failure to do so, individually or in the aggregate, could
      not
      reasonably be expected to result in a Material Adverse Effect, is qualified
      to
      do business in, and is in good standing in, every juris-diction where such
      qualification is required. 

    

    Section
      3.02  Authorization;
      Enforceability.
      The
      Transactions are within the Borrower's and the Guarantors’ corporate powers and
      have been duly authorized by all necessary corporate and, if required,
      stockholder action. This Agreement has been duly executed and delivered by
      the
      Borrower and constitutes a legal, valid and binding obligation of the Borrower,
      enforceable in accordance with its terms, subject to applicable bankruptcy,
      insolvency, reorganization, moratorium or other laws affecting creditors' rights
      generally and subject to general principles of equity, regardless of whether
      considered in a proceeding in equity or at law.

    

    Section
      3.03  Governmental
      Approvals; No Conflicts.
      The
      Transactions 

    

    (a)  do
      not
      require any consent or approval of, registration or filing with, or any other
      action by, any Governmental Authority, except such as have been obtained or
      made
      and are in full force and effect, 

    

    (b)  will
      not
      violate any applicable law or regulation or the charter, by-laws or other
      organizational documents of the Borrower or any of its Subsidiaries or any
      order
      of any Governmental Authority, 

    

    (c)  will
      not
      violate or result in a default under any indenture, agreement or other
      instrument binding upon the Borrower or any of its Subsidiaries or its assets,
      or give rise to a right thereunder to require any payment to be made by the
      Borrower or any of its Subsidiaries, and 

    

    (d)  will
      not
      result in the creation or imposition of any Lien on any asset of the Borrower
      or
      any of its Subsidiaries.

    

    Section
      3.04  Financial
      Condition; No Material Adverse Change. 

    

    (a)  The
      Borrower has heretofore furnished to the Lenders its consolidated balance sheet
      and statements of income, stockholders equity and cash flows as of and for
      the
      fiscal year ended December 31, 2006, reported on by PricewaterhouseCoopers
      LLP,
      independent registered public accountants. Such financial state-ments present
      fairly, in all material respects, the financial position and results of
      operations and cash flows of the Borrower and its consolidated Subsidiaries
      as
      of such dates and for such periods in accordance with GAAP.

    

    (b)  Since
      December 31, 2006, there has been no material adverse change in the business,
      assets, prospects or condition, financial or otherwise, of the Borrower and
      its
      Subsidiaries, taken as a whole.

    

    Section
      3.05  Properties. 

    

    
      
        
        

      

      
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    (a)  Each
      of
      the Borrower and its Subsidiar-ies has good title to, or valid leasehold
      interests in, all its real and personal property material to its business,
      except where the failure to have such good title or valid leasehold interest
      could not reasonably be expected to have a Material Adverse Effect.

     

    (b)  Each
      of
      the Borrower and its Subsidiaries owns, or is licensed to use, all trademarks,
      tradenames, copyrights, patents and other intellectual property material to
      its
      business, except where the impairment of such ownership or license is not
      reasonably expected to have a Material Adverse Effect, and the use thereof
      by
      the Borrower and its Subsidiaries does not infringe upon the rights of any
      other
      Person, except for any such infringements that, individually or in the
      aggregate, could not reasonably be expected to result in a Material Adverse
      Effect.

    

    Section
      3.06  No
      Material Litigation.
      Except
      for such litigation previously disclosed by the Borrower in its periodic filings
      made with the SEC or on Schedule 3.06, no litigation, investigation or
      proceeding of or before any arbitrator or Governmental Authority is pending
      or,
      to the knowledge of the Borrower, threatened by or against the Borrower or
      any
      of its Subsidiaries or against any of its or their respective properties or
      revenues with respect to this Agreement, any of the other documents or
      agreements executed and delivered in connection therewith, or any of the
      transactions contemplated hereby, or which could reasonably be expected to
      have
      a Material Adverse Effect. 

    

    Section
      3.07  Compliance
      with Laws and Agreements.
      Each of
      the Borrower and its Subsidiaries is in compliance with all laws, regulations
      and orders of any Governmental Authority applicable to it or its property and
      all indentures, agreements and other instruments binding upon it or its
      property, except where the failure to do so, individually or in the aggregate,
      could not reasonably be expected to result in a Material Adverse Effect. No
      Default has occurred and is continuing.

    

    Section
      3.08  Investment
      and Holding Company Status.
      Neither
      the Borrower nor any of its Subsidiaries is 

    

    (a)  an
      “investment company” as defined in, or subject to regulation under, the
      Investment Company Act of 1940 or 

    

    (b)  a
“holding
      company” as defined in, or subject to regula-tion under, the Public Utility
      Holding Company Act of 1935.

    

    Section
      3.09  Taxes.
      Each of
      the Borrower and its Subsidiaries has timely filed or caused to be filed all
      Tax
      returns and reports required to have been filed and has paid or caused to be
      paid all Taxes required to have been paid by it, except (a) Taxes that are
      being contested in good faith by appropriate proceedings and for which the
      Borrower or such Subsidiary, as applicable, has set aside on its books adequate
      reserves or (b) to the extent that the failure to do so could not
      reasonably be expected to result in a Material Adverse Effect.

    

    Section
      3.10  ERISA.
      No ERISA
      Event has occurred or is reasonably expected to occur that, when taken together
      with all other such ERISA Events for which liability is reasonably expected
      to
      occur, could reasonably be expected to result in a Material Adverse Effect.
      The
      present value of all accumulated benefit obligations under each Plan (based
      on
      the assumptions used for purposes of Statement of Financial Accounting Standards
      No. 87) did not, as of the date of the most recent financial statements
      reflecting such amounts, exceed the fair market value of the assets of such
      Plan
      by an amount which could reasonably be expected to result in a Material Adverse
      Effect, and the present value of all accumulated benefit obligations of all
      underfunded Plans (based on the assumptions used for purposes of Statement
      of
      Financial Accounting Standards No. 87) did not, as of the date of the most
      recent financial statements reflecting such amounts, exceed the fair market
      value of the assets of all such underfunded Plans by an amount which could
      reasonably be expected to result in a Material Adverse Effect.

    

    
      
        
        

      

      
        38

        
          

        

      

      
        
        

      

       

    

    Section
      3.11  Federal
      Regulations.
      Neither
      the making of any Loans nor the use of the proceeds thereof will be used for
      any
      purpose which violates or is inconsistent with the provisions of Regulation
      U of
      the Board. 

    

    Section
      3.12  Environmental
      Matters.
      Except
      to the extent that the facts and circumstances giving rise to any such failure
      to be so true and correct, in the aggregate, could not reasonably be expected
      to
      have a Material Adverse Effect or have been previously disclosed by the Borrower
      in its periodic filings made with the SEC or have been otherwise disclosed
      by
      the Borrower to the Lenders: 

    

    (a)  The
      Properties do not contain any Materials of Environmental Concern in amounts
      or
      concentrations which constitute a violation of, or could reasonably give rise
      to
      liability under, Environmental Laws;

    

    (b)  The
      Properties and all operations at the Properties are in compliance with all
      applicable Environmental Laws, and there is no violation of any Environmental
      Law with respect to the Properties; 

    

    (c)  Neither
      the Borrower nor any of its Subsidiaries has received any notice of violation,
      alleged violation, non-compliance, liability or potential liability regarding
      environmental matters or compliance with Environmental Laws with regard to
      any
      of the Properties that (except for sites in pre-delineation phase) has not
      been
      or is not currently the subject of a remedial action work plan the applicable
      governmental authority, nor does the Borrower have knowledge or reason to
      believe that any such notice will be received or is being threatened.

    

    (d)  Materials
      of Environmental Concern have not been transported or disposed of from the
      Properties in violation of, or in a manner or to a location which could
      reasonably give rise to liability under, Environmental Laws, nor have any
      Materials of Environmental Concern been generated, treated, stored or disposed
      of at, on or under any of the Properties in violation of, or in a manner that
      could give rise to liability under, any applicable Environmental Laws.

    

    (e)  Except
      for
      such actions previously disclosed by the Borrower in its periodic filings made
      with the SEC, no judicial proceeding or governmental or administrative action
      is
      pending, or, to the knowledge of the Borrower, threatened, under any
      Environmental Law to which the Borrower or any of its Subsidiaries is or, to
      the
      knowledge of the Borrower, will be named as a party with respect to the
      Properties, nor are there any consent decrees or other decrees, consent orders,
      administrative orders or other orders, or other administrative of judicial
      requirements outstanding under any Environmental Law with respect to the
      Properties. 

    

    (f)  There
      has
      been no release or threat of release of Materials of Environmental Concern
      at or
      from the Properties, or arising from or related to the operations of the
      Borrower and its Subsidiaries in connection with the Properties in violation
      of
      or in amounts or in a manner that could give rise to liability under
      Environmental Laws. 

    

    Section
      3.13  Insurance.
      The
      Borrower and each Subsidiary maintains with insurance companies rated at least
      A- by A.M. Best & Co., with premiums at all times currently paid, insurance
      upon fixed assets, including general and excess liability insurance, fire and
      all other risks insured against by extended coverage, employee fidelity bond
      coverage, business interruption insurance, and all insurance required by law,
      all in form and amounts required by law and customary to the respective natures
      of their businesses and properties, except in cases where failure to maintain
      such insurance will not have or potentially have a Material Adverse
      Effect. 

    

    
      
        
        

      

      
        39

        
          

        

      

      
        
        

      

       

    

    Section
      3.14  Condition
      of Properties.
      Each of
      the following representations and warranties is true and correct except to
      the
      extent disclosed on Schedule 3.06 or that the facts and circumstances giving
      rise to any such failure to be so true and correct, in the aggregate, could
      not
      reasonably be expected to have a Material Adverse Effect: 

    

    (a)  All
      of the
      improvements located on the Properties and the use of said improvements comply
      and shall continue to comply in all respects with all applicable zoning
      resolutions, building codes, subdivision and other similar applicable laws,
      rules and regulations and are covered by existing valid certificates of
      occupancy and all other certificates and permits required by applicable laws,
      rules, regulations and ordinances or in connection with the use, occupancy
      and
      operation thereof. 

    

    (b)  No
      material portion of any of the Properties, nor any improvements located on
      said
      Properties that are material to the operation, use or value thereof, have been
      damaged in any respect as a result of any fire, explosion, accident, flood
      or
      other casualty. 

    

    (c)  No
      condemnation or eminent domain proceeding has been commenced or to the knowledge
      of the Borrower is about to be commenced against any portion of any of the
      Properties, or any improvements located thereon that are material to the
      operation, use or value of said Properties. 

    

    (d)  No
      notices
      of violation of any federal, state or local law or ordinance or order or
      requirement have been issued with respect to any Properties. 

    

    Section
      3.15  REIT
      Status.
      The
      Borrower is a real estate investment trust under Sections 856 through 860 of
      the
      Code. 

    

    Section
      3.16  Disclosure.
      The
      Borrower has disclosed to the Lenders 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 in a Material Adverse Effect. None of the
      reports, financial statements, certificates or other information furnished
      by or
      on behalf of the Borrower to the Administrative Agent or any Lender in
      connection with 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 necessary
      to
      make the statements therein, in the light of the circumstances under which
      they
      were made, not misleading; provided that, with respect to projected financial
      information, the Borrower represents only that such information was prepared
      in
      good faith based upon assumptions believed to be reasonable at the
      time.

    

    ARTICLE
      IV.

     

    Conditions

    

    Section
      4.01  Effective
      Date.
      The
      obligations of the Lenders to make Loans and of the Issuing Bank to issue
      Letters of Credit hereunder shall not become effective until the date on which
      each of the following conditions is satisfied (or waived in accordance with
      Section 9.02):

    

    
      
        
        

      

      
        40

        
          

        

      

      
        
        

      

       

    

    (a)  The
      Administrative Agent (or its counsel) shall have received from each party hereto
      either: (i) a counterpart of this Agreement signed on behalf of such party
      or
      (ii) written evidence satisfactory to the Administrative Agent (which may
      include telecopy transmission of a signed signature page of this Agreement)
      that
      such party has signed a counterpart of this Agreement.

    

    (b)  The
      Administrative Agent shall have received from each Guarantor either: (i) a
      counterpart of the Guaranty signed on behalf of such Guarantor or (ii) written
      evidence satisfactory to the Administrative Agent (which may include telecopy
      transmission of a signed signature page of the Guaranty) that such Guarantor
      has
      signed a counterpart of the Guaranty.

    

    (c)  The
      Administrative Agent shall have received a favorable written opinion (addressed
      to the Administrative Agent and the Lenders and dated the Effective Date) of
      DLA
      Piper Rudnick Gray Cary US LLP, counsel for the Borrower, substantially in
      the
      form of Exhibit B. The Borrower hereby requests such counsel to deliver such
      opinion.

    

    (d)  The
      Administrative Agent shall have received such documents and certificates as
      the
      Administrative Agent or its counsel may reasonably request relating to the
      organization, existence and good standing of the Borrower and the Guarantors,
      the authorization of the Transactions and any other legal matters relating
      to
      the Borrower, the Guarantors, this Agreement or the Transactions, all in form
      and substance satisfactory to the Administrative Agent and its
      counsel.

    

    (e)  The
      Administrative Agent shall have received a certificate, dated the Effective
      Date
      and signed by the President, a Vice President or a Financial Officer of the
      Borrower, confirming compliance with the conditions set forth in
      paragraphs (a) and (b) of Section 4.02.

    

    (f)  The
      Administrative Agent shall have received all reimbursable fees and other amounts
      due and payable on or prior to the Effective Date, including, to the extent
      invoiced, reimbursement or payment of all out-of-pocket expenses required to
      be
      reimbursed or paid by the Borrower hereunder.

    

    (g)  The
      Administrative Agent shall be satisfied that all governmental and third party
      approvals necessary or, in the discretion of the Administrative Agent, advisable
      in connection with the Transactions contemplated hereby have been obtained
      and
      remain in full force and effect.

    

    (h)  The
      Borrower shall have furnished to the Lenders to the extent the same are not
      available on the Borrower’s website: 

    

    (i)  its
      audited consolidated balance sheets and statements of income, stockholders
      equity and cash flows as of and for the two (2) most recent fiscal years ended
      prior to the Effective Date, and 

    

    (ii)  its
      unaudited interim consolidated financial statement as of and for each fiscal
      quarter subsequent to the date of the latest financial statement delivered
      pursuant to clause (i) above, all certified by its chief financial officer.
      

    

    Such
      financial statements shall present fairly, in all material respects, the
      consolidated financial position and results of operations and cash flows of
      the
      Borrower and its subsidiaries as of such dates and for such periods in
      accordance with GAAP, subject to year-end audit adjustments and the absence
      of
      footnotes in the case of the statements referred to in clause (ii) above.
      Administrative Agent and Lenders acknowledge and agree that the reports on
      Forms
      10K and 10Q as filed with the SEC satisfy the requirements of clause (i) and
      (ii) above.

    

    
      
        
        

      

      
        41

        
          

        

      

      
        
        

      

       

    

    (i)  All
      commitments to extend credit under the Prior Credit Agreement, shall have been
      terminated, and, after giving effect to the extension of credit requested to
      be
      made on the Effective Date, all principal, interest, fees and other amounts
      due
      and/or payable in accordance therewith shall have been paid in
      full.

    

    The
      Administrative Agent shall notify the Borrower and the Lenders of the Effective
      Date, and such notice shall be conclusive and binding. Notwithstanding the
      foregoing, the obligations of the Lenders to make Loans and of the Issuing
      Bank
      to issue Letters of Credit hereunder shall not become effective unless each
      of
      the foregoing conditions is satisfied (or waived pursuant to Section 9.02)
      at or
      prior to 3:00 p.m., New York City time, on March 27, 2007 (and, in the event
      such conditions are not so satisfied or waived, the Commitments shall terminate
      at such time). 

    

    Section
      4.02  Each
      Credit Event.
      The
      obligation of each Lender to make a Loan on the occasion of any Borrowing,
      and
      of the Issuing Bank to issue, amend, renew or extend any Letter of Credit,
      is
      subject to the satisfaction of the following conditions:

    

    (a)  The
      representations and warranties of the Borrower set forth in this Agreement
      shall
      be true and correct, in all material respects, on and as of the date of such
      Borrowing or the date of issuance, amendment, renewal or extension of such
      Letter of Credit, as applicable (except to the extent such representations
      and
      warranties expressly refer to an earlier date, in which case they shall be
      true
      and correct as of such earlier date).

    

    (b)  At
      the
      time of and immediately after giving effect to such Borrowing or the issuance,
      amendment, renewal or extension of such Letter of Credit, as applicable, no
      Default shall have occurred and be continuing.

    

    Each
      Borrowing and each issuance, amendment, renewal or extension of a Letter of
      Credit shall be deemed to constitute a representation and warranty by the
      Borrower on the date thereof as to the matters specified in paragraphs (a)
      and
      (b) of this Section.

    

    ARTICLE
      V.

     

    Affirmative
      Covenants

    

    Until
      the
      Commitments have expired or been terminated and the principal of and interest
      on
      each Loan and all fees payable hereunder shall have been paid in full and all
      Letters of Credit shall have expired or terminated and all LC Disbursements
      shall have been reimbursed, the Borrower covenants and agrees with the Lenders
      that:

    

    Section
      5.01  Financial
      Statements and Other Information.
      The
      Borrower will furnish to the Administrative Agent and each Lender:

    

    (a)  as
      soon as
      available, but in any event, on or before the tenth day following the date
      on
      which the following are required to be filed with the SEC, its audited
      consolidated balance sheet and related statements of operations, stockholders'
      equity and cash flows as of the end of and for such year, setting forth in
      each
      case in comparative form the figures for the previous fiscal year, all reported
      on by PricewaterhouseCoopers LLP or other independent public accountants of
      recognized national standing (without a “going concern” or like qualification or
      exception and without any qualification or exception as to the scope of such
      audit) to the effect that such consolidated financial statements present fairly
      in all material respects the financial condition and results of operations
      of
      the Borrower and its consolidated Subsidiaries on a consolidated basis in
      accordance with GAAP consistently applied. The report on Form 10K filed with
      the
      SEC shall satisfy the requirement of this clause (a) and shall be deemed
      delivered to the Administrative Agent and the Lenders so long as the same is
      posted on the Borrower's Web site;

    

    
      
        
        

      

      
        42

        
          

        

      

      
        
        

      

       

    

    (b)  as
      soon as
      available, but in any event, on or before the tenth day following the date
      on
      which the following are required to be filed with the SEC, its consolidated
      balance sheet and related statements of operations, stockholders' equity and
      cash flows as of the end of and for such fiscal quarter and the then elapsed
      portion of the fiscal year, setting forth in each case in comparative form
      the
      figures for the corresponding period or periods of (or, in the case of the
      balance sheet, as of the end of) the previous fiscal year, all certified by
      one
      of its Finan-cial Officers as presenting fairly in all material respects the
      financial condition and results of operations of the Borrower and its
      consolidated Subsidiaries on a consolidated basis in accordance with GAAP
      consis-tently applied, subject to normal year-end audit adjustments and the
      absence of footnotes. The report on Form 10-Q filed with the SEC shall satisfy
      the requirement of this clause (a) and shall be deemed delivered to the
      Administrative Agent and the Lenders so long as the same is posted on the
      Borrower's website;

    

    (c)  concurrently
      with any delivery of financial statements under clause (a) or
      (b) above (or, if such physical delivery is not required, within the time
      provided therein), a certificate of a Financial Officer of the Borrower

    

    (i)  certifying
      as to whether a Default has occurred and, if a Default has occurred, specifying
      the details thereof and any action taken or proposed to be taken with respect
      thereto, 

    

    (ii)  setting
      forth reasonably detailed calculations demonstrating compliance with
      Section 6.01 and 

    

    (iii)  stating
      whether any material change in the application of GAAP has occurred since the
      date of the audited financial statements referred to in Section 3.04 and,
      if any such change has occurred, specifying the effect of such change on the
      financial statements accompanying such certificate;

    

    (d)  promptly
      after the same become publicly available, copies of all periodic and other
      reports, proxy statements and other required filings filed by the Borrower
      or
      any Subsidiary with the SEC or any Govern-mental Authority succeeding to any
      or
      all of the functions of the SEC, or with any national securities exchange,
      or
      distributed by the Borrower to its share-holders generally, as the case may
      be,
      provided that in lieu of delivery of such information, the Borrower may send
      a
      notice to the Administrative Agent and the Lenders referencing that the
      Borrower's website contains copies of such materials;

    

    (e)  promptly
      following any request therefor, such other information regarding the operations,
      business affairs and financial condition of the Borrower or any Subsidi-ary,
      or
      compliance with the terms of this Agreement, as the Administrative Agent or
      any
      Lender may reasonably request, so long as disclosure of such information could
      not result in a violation of, or expose the Borrower or its Subsidiaries to
      any
      material liability under, any applicable law, ordinance or regulation or any
      agreements with unaffiliated third parties that are binding on the Borrower,
      or
      any of its Subsidiaries or on any Property of any of them, provided that in
      lieu
      of delivery of such information, the Borrower may send a notice to the
      Administrative Agent and the Lenders referencing that the Borrower's website
      contains such information.

    

    
      
        
        

      

      
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    Section
      5.02  Notices
      of Material Events.
      The
      Borrower will furnish to the Administrative Agent and each Lender prompt written
      notice of the following:

    

    (a)  the
      occurrence of any Default;

    

    (b)  the
      filing
      or commencement of any action, suit or proceeding by or before any arbitrator
      or
      Governmental Authority against or affecting the Borrower or any Affiliate
      thereof that in either case, if not cured or if adversely determined, could
      reasonably be expected to result in a Material Adverse Effect; 

    

    (c)  the
      occurrence of any ERISA Event that, alone or together with any other ERISA
      Events that have occurred, could reasonably be expected to result in a Material
      Adverse Effect;
      and

    

    (d)  any
      other
      development that results in, or could reasonably be expected to result in,
      a
      Material Adverse Effect so long as disclosure of such information could not
      result in a violation of, or expose the Borrower or its Subsidiaries to any
      material liability under, any applicable law, ordinance or regulation or any
      agreements with unaffiliated third parties that are binding on the Borrower,
      or
      any of its Subsidiaries or on any Property of any of them.

    

    Each
      notice delivered under this Section shall be accompanied by a statement of
      a
      Financial Officer or other executive officer of the Borrower setting forth
      the
      details of the event or development requiring such notice and any action taken
      or proposed to be taken with respect thereto.

    

    Section
      5.03  Existence;
      Conduct of Business; REIT Status.
      The
      Borrower will, and will cause each of its Subsidiaries to, do or cause to be
      done all things necessary to preserve, renew and keep in full force and effect
      its legal existence and the rights, licenses, permits, privileges and franchises
      material to the conduct of its business, except where the failure to so
      preserve, renew or keep in force and effect could not reasonably be expected
      to
      have a Material Adverse Effect. The Borrower shall do all things necessary to
      preserve, renew and keep in full force and effect its status as a real estate
      investment trust under Sections 856 through 860 of the Code. 

    

    Section
      5.04  Payment
      of Obligations.
      The
      Borrower will, and will cause each of its Subsidiaries to, pay its obliga-tions,
      including Tax liabilities, that, if not paid, could result in a Material Adverse
      Effect before the same shall become delinquent or in default, except
      where 

    

    (a)  the
      validity or amount thereof is being contested in good faith by appropri-ate
      proceedings, 

    

    (b)  the
      Borrower or such Subsidiary has set aside on its books adequate reserves with
      respect thereto in accordance with GAAP and 

    

    (c)  the
      failure to make payment pending such contest could not reasonably be expected
      to
      result in a Material Adverse Effect.

    

    
      
        
        

      

      
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    Section
      5.05  Maintenance
      of Properties; Insurance.
      The
      Borrower will, and will cause each of its Subsidiaries to:

    

    (a)  use
      commercially reasonable efforts to cause its tenants to keep and maintain all
      property material to the conduct of their business in good working order and
      condition, ordinary wear and tear excepted, except where the failure to so
      maintain and repair could not reasonably be expected to have a Material Adverse
      Effect; and 

    

    (b)  maintain,
      with financially sound and reputable insurance companies, insurance in such
      amounts and against such risks as are customarily maintained by companies
      engaged in the same or similar businesses operating in the same or similar
      locations.

    

    Section
      5.06  Books
      and Records; Inspection Rights.
      The
      Borrower will, and will cause each of its Subsidiaries to, keep proper books
      of
      record and account in which full, true and correct entries are made of all
      dealings and transactions in relation to its business and activities. The
      Borrower will, and will cause each of its Subsidiaries to, permit any
      representatives designated by the Administrative Agent or any Lender, upon
      reasonable prior notice during normal business hours, to visit and inspect
      its
      properties, to examine and make extracts from its books and records, and to
      discuss its affairs, finances and condition with its officers and independent
      accountants, all at such reasonable times and as often as reasonably
      requested.

    

    Section
      5.07  Compliance
      with Laws.
      The
      Borrower will, and will cause each of its Subsidiaries to, comply with all
      laws,
      rules, regulations and orders of any Governmental Authority applicable to it
      or
      its property, except where the failure to do so, individually or in the
      aggregate, could not reasonably be expected to result in a Material Adverse
      Effect.

    

    Section
      5.08  Environmental
      Laws. 

    

    (a)  Comply
      with, and use commercially reasonable efforts to ensure compliance by all
      tenants and subtenants, if any, with, all applicable Environmental Laws and
      obtain and comply with and maintain, and use commercially reasonable efforts
      to
      ensure that all tenants and subtenants obtain and comply with and maintain,
      any
      and all licenses, approvals, notifications, registrations or permits required
      by
      applicable Environmental Laws, except to the extent that failure to do so could
      not be reasonably expected to have a Material Adverse Effect. 

    

    (b)  Conduct
      and complete, or use commercially reasonable efforts to ensure that its tenants
      conduct and complete (provided that if such tenants fail to do so, the Borrower
      shall conduct and complete) all investigations, studies, sampling and testing,
      and all remedial, removal and other actions required under Environmental Laws
      and promptly comply in all material respects with all lawful orders and
      directives of all Governmental Authorities regarding Environmental Laws, except
      to the extent that:

    

    (i)  the
      same
      are being contested in good faith by appropriate proceedings and the pendency
      of
      such proceedings could not be reasonably expected to have a Material Adverse
      Effect or 

    

    (ii)  the
      Borrower has determined in good faith that contesting the same or complying
      with
      such requirement is not in the best interests of the Borrower and its
      Subsidiaries and the failure to contest or comply with the same could not be
      reasonably expected to have a Material Adverse Effect. 

    

    
      
        
        

      

      
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    (c)  Defend,
      indemnify and hold harmless the Administrative Agent, the Issuing Bank and
      each
      Lender, and their respective employees, agents, officers and directors, from
      and
      against any claims, demands, penalties, fines, liabilities, settlements,
      damages, costs and expenses (whether arising pre-judgment or post-judgment)
      of
      whatever kind or nature known or unknown, contingent or otherwise, arising
      out
      of, or in any way relating to the violation of, noncompliance with or liability
      under any Environmental Laws applicable to the operations of the Borrower,
      its
      Subsidiaries or the Properties, or any orders, requirements or demands of
      Governmental Authorities related thereto, including attorney's and consultant's
      fees, investigation and laboratory fees, response costs, court costs and
      litigation expenses, except to the extent that any of the foregoing arise out
      of
      the fraud, gross negligence or willful misconduct of any party indemnified
      hereunder. Notwithstanding anything to the contrary in this Agreement, this
      indemnity shall continue in full force and effect regardless of the termination
      of this Agreement. 

    

    Section
      5.09  Use
      of Proceeds and Letters of Credit.
      The
      proceeds of the Loans will be used only to refinance existing indebtedness
      owing
      to Original Lenders pursuant to the Prior Credit Agreement and for general
      corporate purposes of the Borrower and its Subsidiaries in the ordinary course
      of business, provided that the
      proceeds from any Swingline Loan may not be used to repay an outstanding
      Swingline Loan.
      No part
      of the proceeds of any Loan will be used, whether directly or indirectly, for
      any purpose that entails a violation of any of the Regulations of the Board,
      including Regulations T, U and X. Letters of Credit will be issued only to
      secure the performance of obligations of the Borrower, including, without
      limitation, obligations with respect to the Borrower’s thirty party leases,
      self-insurance for workers’ compensation, general liability and vehicle
      liability. 

    

    ARTICLE
      VI.

     

    Negative
      Covenants

    

    Until
      the
      Commitments have expired or terminated and the principal of and interest on
      each
      Loan and all fees payable hereunder have been paid in full and all Letters
      of
      Credit have expired or terminated and all LC Disbursements shall have been
      reimbursed, the Borrower covenants and agrees with the Lenders:

    

    Section
      6.01  Financial
      Covenants.
      The
      Borrower shall not:

    

    (a)  Total
      Liabilities to Total Asset Value.
      Permit,
      at the last day of any fiscal quarter, the ratio of (i) Total Liabilities to
      (ii) Total Asset Value to be greater than 0.50:1.00.

    

    (b)  Total
      Secured Indebtedness to Total Asset Value.
      Permit,
      at the last day of any fiscal quarter, the ratio of (i) Total Secured
      Indebtedness to (ii) Total Asset Value to be greater than
      0.20:1.00.

    

    (c)  Fixed
      Charge Coverage Ratio.
      Permit,
      at the last day of any fiscal quarter, the Fixed Charge Coverage Ratio to be
      less than 2.00:1.00.

    

    (d)  Tangible
      Net Worth.
      Permit
      Tangible Net Worth to be less than $180,120,000 plus
      80% of
      the net equity proceeds received, if any, by the Borrower from any equity
offering,
      occurring after the Closing Date.

    

    
      
        
        

      

      
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    (e)  Total
      Unsecured Indebtedness to Unencumbered Asset Value.
      Permit,
      as of the last day of any fiscal quarter, the ratio of (i) Total Unsecured
      Indebtedness to (ii) Unencumbered Asset Value to be greater than
      0.55:1.00.

    

    (f)  Unsecured
      Debt Service Coverage Ratio.
      Permit,
      at the last day of any fiscal quarter, the Unsecured Debt Service Coverage
      Ratio
      to be less than 2.00:1.00.

    

    (g)     
      Unencumbered
      Asset Value.
      Permit,
      as of the last day of any fiscal quarter, the Unencumbered Asset Value to be
      less than $200,000,000.

    

    (h)     
      Unencumbered
      Asset Value for a Single Asset.
      Permit
      any single asset to comprise more that fifteen percent (15%) of the total
      Unencumbered Asset Value.

    

    For
      purposes of calculating compliance with this Section 6.01, all of the foregoing
      tests shall be measured on a consolidated basis for the Borrower and its
      Subsidiaries.

    

    Section
      6.02  Indebtedness.
      The
      Borrower will not, and will not permit any Subsidiary to, create, incur, assume
      or permit to exist any Indebtedness except:

    

    (a)  Indebtedness
      created hereunder;

    

    (b)  Indebtedness
      existing on the date hereof and set forth in Schedule 6.02 and extensions,
      renewals and replacements of any such Indebtedness that do not increase the
      outstanding principal amount thereof;

    

    (c)  Indebtedness
      of the Borrower to any Subsidiary and of any Subsidiary to the Borrower or
      any
      other Subsidiary;

    

    (d)  Guarantees
      by the Borrower of Indebtedness of any Subsidiary and by any Subsidiary of
      Indebtedness of the Borrower or any other Subsidiary; and

    

    (e)  Indebtedness
      which, after giving effect thereto, may be incurred or may remain outstanding
      without giving rise to an Event of Default under Section 6.01.

    

    Section
      6.03  Liens.
      The
      Borrower will not, and will not permit any Subsidiary to, create, incur, assume
      or permit to exist any Lien on any property or asset now owned or hereafter
      acquired by it, or assign or sell any income or revenues (including accounts
      receivable) or rights in respect of any thereof, except:

    

    (a)  Permitted
      Encumbrances; 

    

    (b)  any
      Lien
      on any property or asset of the Borrower or any Subsidiary existing on the
      date
      hereof and set forth in Schedule 6.03; provided that 

    

    (i)  such
      Lien
      shall not apply to any other property or asset of the Borrower or any Subsidiary
      and 

    

    (ii)  such
      Lien
      shall secure only those obligations which it secures on the date hereof and
      extensions, renewals and replacements thereof that do not increase the
      outstanding principal amount thereof; and

    

    
      
        
        

      

      
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    (c)  any
      Lien
      existing on any property or asset prior to the acquisition thereof by the
      Borrower or any Subsidiary or existing on any property or asset of any Person
      that becomes a Subsidiary after the date hereof prior to the time such Person
      becomes a Subsidiary; provided that 

    

    (i)       
      such
      Lien
      is not created in contemplation of or in connection with such acquisi-tion
      or
      such Person becoming a Subsidiary , as the case may be, 

    

    (ii)      
      such
      Lien
      shall not apply to any other property or assets of the Borrower or any
      Subsidiary, and 

    

    (iii)     
      such
      Lien
      shall secure only those obligations which it secures on the date of such
      acquisition or the date such Person becomes a Subsidiary, as the case may be
      and
      extensions, renewals and replacements thereof that do not increase the
      outstanding principal amount thereof.

    

    (d)  Liens
      created by any tenant to secure its obligations to a third party.

    

    Section
      6.04  Limitation
      on Certain Fundamental Changes.
      The
      Borrower will not, and will not permit any Subsidiary to:

    

    (a)  enter
      into
      any merger, consolidation or amalgamation, 

    

    (b)  liquidate,
      wind up or dissolve itself (or suffer any liquidation or dissolution), or

    

    (c)  convey,
      sell, lease, assign, transfer or otherwise dispose of, all or a substantial
      portion of its property, business or assets, 

    

    (each
      such
      transaction referred to in the preceding clauses (a), (b) and (c), a “Capital
      Transaction”), unless 

    

    (i)  such
      Capital Transaction as described in clauses (b) and (c) does not involve all
      or
      a substantial portion of the property, business or assets owned or leased by
      the
      Borrower and its Subsidiaries determined on a consolidated basis with respect
      to
      the Borrower and its Subsidiaries taken as a whole, 

    

    (ii)  there
      is
      no Default or Event of Default, before and after giving effect to such Capital
      Transaction, and 

    

    (iii)  without
      limiting the foregoing, the Borrower is in compliance with all covenants under
      Section 6.01 after giving effect to such Capital Transaction, and would have
      been in compliance therewith for the most recent fiscal quarter if such Capital
      Transaction had been given effect during such fiscal quarter. 

     

    Notwithstanding
      the foregoing, (a) any Subsidiary may merge with and into the Borrower or any
      other Subsidiary, and (b) any other Person may merge with and into the Borrower
      or a Subsidiary so long as (i) the Borrower shall notify the Administrative
      Agent not less than thirty (30) days prior to such event, (ii) no Default or
      Event of Default (including, without limitation, an Event of Default under
      Section 6.01 hereof) shall have occurred and is then outstanding or would occur
      as result of such merger, and (iii) the surviving entity shall, if not the
      Borrower or a Subsidiary prior to such merger, execute such documents and
      agreements as may be reasonably required by the Administrative Agent.

    

    
      
        
        

      

      
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    Section
      6.05  Limitation
      on Restricted Payments.
      Unless
      otherwise required (as estimated) in order to maintain the Borrower's status
      as
      a real estate investment trust, the Borrower shall not declare or pay any
      dividend (other than dividends payable solely in the same class of Capital
      Stock) or other distribution (whether in cash, securities or other property)
      on,
      or make any payment on account of, or set apart assets for a sinking or other
      analogous fund for, the purchase, redemption, defeasance, cancellation,
      termination, retirement or other acquisition of, any shares of any class of
      Capital Stock of the Borrower or any warrants or options to purchase any such
      Capital Stock, whether now or hereafter outstanding, or make any other
      distribution in respect thereof, either directly or indirectly, whether in
      cash
      or property or in obligations of the Borrower or any Subsidiary (collectively,
      “Restricted Payments”); provided that notwithstanding the foregoing, 

    

    (i)  during
      any
      fiscal year of the Borrower, the Borrower may make Restricted Payments in an
      aggregate amount not to exceed the greater of (a) 105% of FFO for such period
      and (b) the amount of estimated dividends required to be paid by the Borrower
      in
      order to maintain its status as a real estate investment trust under the Code,
      and 

    

    (ii)  dividends
      and distributions may be paid by any Subsidiary to the Borrower or to any
      Guarantor. 

    

    Solely
      for
      the purpose of this Section 6.05, all references to shares in the definition
      of
“Capital Stock” shall be to common shares only. 

    

    Section
      6.06  Limitation
      on Investments, Loans and Advances.
      Except
      as otherwise expressly permitted in this Agreement, the Borrower will not,
      and
      will not permit any Subsidiary to make any advance, loan, extension of credit
      or
      capital contribution to any Person, or purchase any stock, bonds, notes,
      debentures or other securities of or any assets constituting a business unit
      of,
      or otherwise make any investment in, any Person, or acquire or otherwise make
      any investment in any real property other than Permitted Investments, provided
      that the aggregate amount of all Permitted Investments described in clauses
      (b)
      through (f) of the definition thereof of the Borrower and its Subsidiaries
      shall
      not exceed twenty percent (20%) of the Total Asset Value.

    

    Section
      6.07  Limitation
      on Transactions with Affiliates.
      The
      Borrower will not, and will not permit any Subsidiary to enter into any
      transaction, including any purchase, sale, lease or exchange of property or
      the
      rendering of any service, with any Affiliate unless 

    

    (a)  no
      Default
      or Event of Default would occur as a result thereof and 

    

    (b)  either
      (x)
      such transaction is (i) in the ordinary course of the business of any Loan
      Party
      that is a party thereto and (ii) upon fair and reasonable terms no less
      favorable to any Loan Party that is a party thereto or is affected thereby
      than
      would be obtained in a comparable arm's length transaction with a Person that
      is
      not an Affiliate, or (y) such transaction is a lease from a Subsidiary holding
      title to Property to Getty Properties Corp. or (z) such transaction is between
      Borrower and any Guarantor or Guarantors. 

    

    Section
      6.08  Limitation
      on Changes in Fiscal Year.
      Permit
      the fiscal year of the Borrower to end on a day other than December 31, unless
      otherwise required by any applicable law, rule or regulation. 

    

    
      
        
        

      

      
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    Section
      6.09  Limitation
      on Lines of Business; Creation of Subsidiaries; Negative
      Pledges.
      The
      Borrower will not, and will not permit any Subsidiary to:

    

    (a)  Except
      for
      Permitted Investments, engage in activities other than real estate business
      and
      real estate related business activities, and in activities permitted for real
      estate investment trusts under the Code, either directly or through taxable
      REIT
      subsidiaries. 

    

    (b)  Create
      or
      acquire any wholly owned Subsidiary after the Effective Date unless, no later
      than the date of the first required delivery of financial statements pursuant
      to
      Section 6.01(a) or 6.01(b) occurring after such creation or acquisition, each
      such wholly owned Subsidiary which has an interest in any Qualified Real Estate
      Assets or owns any assets having an aggregate value in excess of $1,000,000,
      becomes a party to the Subsidiary Guarantee; provided, however, that an entity
      that would otherwise be required to become a party to the Subsidiary Guarantee
      in accordance with the foregoing shall not be required to do so until ninety
      (90) days shall have elapsed from the time that such entity first acquires any
      assets, and provided further that no such Subsidiary shall be required to become
      a party to the Subsidiary Guaranty if such Subsidiary would be prohibited from
      guaranteeing the debt of Borrower by the terms of any agreement to which such
      Subsidiary is a party. 

    

    Section
      6.10  Swap
      Agreements.
      The
      Borrower will not, and will not permit any of its Subsidiaries to, enter into
      any Swap Agreement, except 

    

    (a)  Swap
      Agreements entered into to hedge or mitigate risks to which the Borrower or
      any
      Subsidiary has actual or anticipated exposure (other than those in respect
      of
      Equity Interests of the Borrower or any of its Subsidiaries), and 

    

    (b)  Swap
      Agreements entered into in order to effectively cap, collar or exchange interest
      rates (from fixed to floating rates, from one floating rate to another floating
      rate or otherwise) with respect to any interest-bearing liability or investment
      of the Borrower or any Subsidiary.

    

    Section
      6.11  Secured
      Recourse Indebtedness.
      Neither
      the Borrower nor any Subsidiary shall incur any Secured Recourse Indebtedness
      which exceeds five percent (5%) of Total Asset Value.

     

    ARTICLE
      VII.

     

    Events
      of Default

    

    If
      any of
      the following events (“Events of Default”) shall occur:

    

    (a)  the
      Borrower shall fail to pay any principal of any Loan or any reimbursement
      obligation in respect of any LC Disbursement when and as the same shall become
      due and payable, whether at the due date thereof or at a date fixed for
      prepay-ment thereof or otherwise, and such failure shall continue unremedied
      for
      a period of five Business Days; 

    

    (b)  the
      Borrower shall fail to pay any interest on any Loan or any fee or any other
      amount (other than an amount referred to in clause (a) of this Article)
      payable under this Agreement or any other Loan Document, when and as the same
      shall become due and payable, and such failure shall continue unremedied for
      a
      period of five Business Days;

    

    
      
        
        

      

      
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    (c)  any
      representation or warranty made or deemed made by or on behalf of the Borrower
      or any Subsidiary in or in connection with this Agreement or any amendment
      or
      modification hereof or waiver hereunder or any other Loan Document, or in any
      report, certificate, financial statement or other document furnished pursuant
      to
      or in connection with this Agreement or any amendment or modification hereof
      or
      waiver hereunder or any other Loan Document, shall prove to have been incorrect
      when made or deemed made;

    

    (d)  the
      Borrower shall fail to observe or perform any covenant, condition or agreement
      contained in Section 5.01, 5.02, 5.03 or 5.09 or in
      Article VI;

    

    (e)  the
      Borrower shall fail to observe or perform any covenant, condition or agree-ment
      contained in this Agreement (other than those specified in clause (a), (b)
      or
      (d) of this Article) or any other Loan Document, and such failure shall continue
      unremedied for a period of 30 days
      after
      notice thereof from the Administrative Agent to the Borrower (which notice
      will
      be given at the request of any Lender);

    

    (f)  the
      Borrower or any Subsidiary shall fail to make any payment (whether of
      principal or interest and regardless of amount) in respect of any Material
      Indebtedness, when and as the same shall become due and payable and any
      applicable notice and cure period with respect thereto shall have
      expired;

    

    (g)  any
      event
      or condition occurs that results in any Material Indebtedness becoming due
      prior
      to its scheduled maturity or that enables or permits the holder or holders
      of
      any Material Indebtedness or any trustee or agent on its or their behalf to
      cause any Material Indebtedness to become due, following the expiration of
      any
      applicable cure period (after the receipt of any requisite notice) with respect
      thereto, and or to require the prepayment, repurchase, redemption or defeasance
      thereof, prior to its scheduled maturity; provided that this clause (g)
      shall not apply to secured Indebtedness that becomes due as a result of the
      voluntary sale or transfer of the property or assets securing such
      Indebtedness;

    

    (h)  an
      involuntary proceeding shall be commenced or an involuntary petition shall
      be
      filed seeking 

    

    (i)  liquidation,
      reorganization or other relief in respect of the Borrower or any Subsidiary
      or
      its debts, or of a substantial part of its assets, under any Federal, state
      or
      foreign bankruptcy, insolvency, receivership or similar law now or hereafter
      in
      effect or 

    

    (ii)  the
      appointment of a receiver, trustee, custodian, seques-trator, conservator or
      similar official for the Borrower or any Subsidiary or for a substantial part
      of
      its assets, 

    

    and,
      in
      any such case, such proceeding or petition shall continue undismissed for
      90 days or an order or decree approving or ordering any of the foregoing
      shall be entered;

    

    (i)  the
      Borrower or any Subsidiary shall 

    

    (i)  voluntarily
      commence any proceeding or file any petition seeking liquidation, reorganization
      or other relief under any Federal, state or foreign bankruptcy, insolvency,
      receivership or similar law now or hereafter in effect, 

    

    
      
        
        

      

      
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    (ii)  consent
      to
      the institution of, or fail to contest in a timely and appropriate manner,
      any
      proceeding or petition described in clause (h) of this Article, 

    

    (iii)  apply
      for
      or consent to the appointment of a receiver, trustee, custodian, sequestrator,
      conservator or similar offi-cial for the Borrower or any Subsidiary or for
      a
      substan-tial part of its assets, 

    

    (iv)  file
      an
      answer admit-ting the material allegations of a petition filed against it in
      any
      such proceeding, or

    

    (v)  make
      a
      general assignment for the benefit of creditors;

    

    (j)  the
      Borrower or any Subsidiary shall become unable, admit in writing its inability
      or fail generally to pay its debts as they become due;

    

    (k)  one
      or
      more judgments for the payment of money in an aggregate amount in excess of
      $5,000,000 shall be rendered against the Borrower, any Subsidiary or any
      combination thereof and the same shall remain undischarged for a period of
      30 consecutive days during which execution shall not be effectively stayed,
      or any action shall be legally taken by a judgment creditor to attach or levy
      upon any assets of the Borrower or any Subsidiary to enforce any such
      judgment;

    

    (l)  an
      ERISA
      Event shall have occurred that, in the opinion of the Required Lenders, when
      taken together with all other ERISA Events that have occurred, could reasonably
      be expected to have a Material Adverse Effect; or

    

    (m)  the
      Subsidiary Guarantee at any time shall cease, for any reason, to be in full
      force and effect or any Loan Party or any Affiliate of any Loan Party shall
      so
      assert; or 

    

    (n)  the
      Borrower shall cease, for any reason, to maintain its status as a real estate
      investment trust under Sections 856 through 860 of the Code; or 

    

    (o)  at
      any
      time the Borrower or any of its Subsidiaries shall be required to take any
      actions in respect of environmental remediation and/or environmental compliance,
      the aggregate expenses, fines, penalties or other charges with respect to which,
      in the judgment of the Required Lenders, could reasonably be expected to exceed
      $2,500,000, in any fiscal year of the Borrower, or $5,000,000, in the aggregate,
      during the term of this Agreement; provided that for purposes of determining
      compliance with this subsection (o) such amounts shall not include the expenses,
      fines, penalties and other charges that the Borrower estimates will be due
      in
      connection with those environmental remediation and/or environmental compliance
      procedures and actions in existence as of the Closing Date and described on
      Schedule 7.01 attached hereto and provided further that, any such remediation
      or
      compliance shall not be taken into consideration for the purposes of determining
      whether an Event of Default has occurred pursuant to this paragraph (o) if:
      

    

    (i)  such
      remediation or compliance is being contested by the Borrower or the applicable
      Subsidiary in good faith by appropriate proceedings or 

    

    (ii)  such
      remediation or compliance is satisfactorily completed within 90 days from the
      date on which the Borrower or the applicable Subsidiary receives notice that
      such remediation or compliance is required, unless such remediation or
      compliance cannot reasonably be completed within such 90 day period in which
      case such time period shall be extended for a period of time reasonably
      necessary to perform such compliance or remediation using diligent efforts
      (but
      not to exceed 180 days, if the continuance of such remediation or compliance
      beyond such 180 day period, in the reasonable judgment of the Required Lenders,
      could reasonably be expected to have a Material Adverse Effect); or

     

    
      
        
        

      

      
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    (p)  a
      Change
      in Control shall occur;

    

    then,
      and
      in every such event (other than an event with respect to the Borrower described
      in clause (h) or (i) of this Article), and at any time thereafter during the
      continuance of such event, the Administrative Agent may, and at the request
      of
      the Required Lenders shall, by notice to the Borrower, take either or both
      of
      the following actions, at the same or different
      times:  (i) terminate the Commitments, and thereupon the
      Commitments shall terminate immediately, and (ii) declare the Loans then
      out-standing to be due and payable in whole (or in part, in which case any
      principal not so declared to be due and payable may thereafter be declared
      to be
      due and payable), and thereupon the principal of the Loans so declared to be
      due
      and payable, together with accrued interest thereon and all fees and other
      obligations of the Borrower accrued hereunder, shall become due and payable
      immediately, without presentment, demand, protest or other notice of any kind,
      all of which are hereby waived by the Borrower; and in case of any event with
      respect to the Borrower described in clause (h) or (i) of this Article, the
      Commitments shall automatically terminate and the principal of the Loans then
      outstanding, together with accrued interest thereon and all fees and other
      obligations of the Borrower accrued hereunder, shall automatically become due
      and payable, without present-ment, demand, protest or other notice of any kind,
      all of which are hereby waived by the Borrower.

    

    ARTICLE
      VIII.

     

    The
      Administrative Agent

    

    Each
      of
      the Lenders and the Issuing Bank hereby irrevocably appoints the Administrative
      Agent as its agent and authorizes the Administrative Agent to take such actions
      on its behalf and to exercise such powers as are delegated to the Administrative
      Agent by the terms hereof, together with such actions and powers as are
      reasonably incidental thereto.

    

    The
      bank
      serving as the Administrative Agent hereunder shall have the same rights and
      powers in its capacity as a Lender as any other Lender and may exercise the
      same
      as though it were not the Administrative Agent, and such bank and its
      Affili-ates may accept deposits from, lend money to and generally engage in
      any
      kind of business with the Borrower or any Subsidiary or other Affiliate thereof
      as if it were not the Administrative Agent hereunder.

    

    The
      Administrative Agent shall not have any duties or obligations except those
      expressly set forth herein. Without limiting the generality of the foregoing,
      (a) the Administrative Agent shall not be subject to any fiduciary or other
      implied duties, regardless of whether a Default has occurred and is continuing,
      (b) the Administrative Agent shall not have any duty to take any
      discretionary action or exercise any discretionary powers, except discretionary
      rights and powers expressly contemplated hereby that the Administrative Agent
      is
      required to exercise in writing as directed by the Required Lenders (or such
      other number or percentage of the Lenders as shall be necessary under the
      circumstances as provided in Section 9.02), and (c) except as expressly set
      forth herein, the Administrative Agent shall not have any duty to disclose,
      and
      shall not be liable for the failure to disclose, any information relating to
      the
      Borrower or any of its Subsidiaries that is communicated to or obtained by
      the
      bank serving as Administrative Agent or any of its Affiliates in any capacity.
      The Administrative Agent shall not be liable to the Lenders for any action
      taken
      or not taken by it with the consent or at the request of the Required Lenders
      (or such other number or percentage of the Lenders as shall be necessary under
      the circumstances as provided in Section 9.02) or in the absence of its own
      fraud, gross negligence or willful misconduct. The Administrative Agent shall
      be
      deemed not to have knowledge of any Default unless and until written notice
      thereof is given to the Administrative Agent by the Borrower or a Lender, and
      the Administrative Agent shall not be responsible for or have any duty to
      ascertain or inquire into (i) any statement, warranty or representation
      made in or in connection with this Agreement, (ii) the contents of any
      certificate, report or other document delivered hereunder or in connection
      herewith, (iii) the performance or observance of any of the covenants,
      agreements or other terms or conditions set forth herein, (iv) the
      validity, enforceability, effectiveness or genuineness of this Agreement or
      any
      other agreement, instrument or document, or (v) the satisfaction of any
      condition set forth in Article IV or elsewhere herein, other than to
      confirm receipt of items expressly required to be delivered to the
      Administrative Agent. 

    

    
      
        
        

      

      
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    The
      Administrative Agent shall be entitled to rely upon, and shall not incur any
      liability to any Lender for relying upon, any notice, request, certificate,
      consent, statement, instrument, document or other writing believed by it to
      be
      genuine and to have been signed or sent by the proper Person. The Administrative
      Agent also may rely upon any statement made to it orally or by telephone and
      reasonably believed by it to be made by the proper Person, and shall not incur
      any liability to any Lender for relying thereon. The Administrative Agent may
      consult with legal counsel (who may be counsel for the Borrower), independent
      accountants and other experts selected by it, and shall not be liable to any
      Lender for any action taken or not taken by it in accordance with the advice
      of
      any such counsel, accountants or experts.

    

    The
      Administrative Agent may perform any and all its duties and exercise its rights
      and powers by or through any one or more sub-agents appointed by the
      Administrative Agent. The Administrative Agent and any such sub-agent may
      perform any and all its duties and exercise its rights and powers through their
      respective Related Parties. The exculpatory provisions of the preceding
      paragraphs shall apply to any such sub-agent and to such Related Parties of
      the
      Administrative Agent and any such sub-agent, and shall apply to their respective
      activities in connection with the syndication of the credit facilities provided
      for herein as well as activities as Administrative Agent.

    

    Subject
      to
      the appointment and acceptance of a successor Administrative Agent as provided
      in this paragraph, the Administrative Agent may resign at any time by notifying
      the Lenders, the Issuing Bank and the Borrower, and shall resign, upon the
      Borrower’s request, in the event that the Administrative Agent, as Lender, shall
      assign so much of its Loans and Commitment that another Lender’s Loans and
      Commitment exceeds that of the Administrative Agent. Upon any such resignation,
      the Required Lenders shall have the right, subject to the approval of the
      Borrower, (so long as no Default or Event of Default has occurred and is then
      continuing) to appoint a successor. If no successor shall have been so appointed
      by the Required Lenders and shall have accepted such appointment within
      30 days after the retiring Administrative Agent gives notice of its
      resignation, then the retiring Administrative Agent may, on behalf of the
      Lenders and the Issuing Bank, appoint a successor Administrative Agent which
      shall be a Lender, provided that if no Lender is willing or able to act as
      Administrative Agent, then the Administrative Agent shall appoint a Qualified
      Institution actively engaged in the syndications market as an administrative
      agent. Upon the acceptance of its appointment as Administrative Agent hereunder
      by a successor, such successor shall succeed to and become vested with all
      the
      rights, powers, privileges and duties of the retiring Administrative Agent,
      and
      the retiring Administrative Agent shall be discharged from its duties and
      obligations hereunder. The fees payable by the Borrower to a successor
      Administrative Agent shall be the same as those payable to its predecessor
      unless otherwise agreed between the Borrower and such successor. After the
      Administrative Agent's resignation hereunder, the provisions of this Article
      and
      Section 9.03 shall continue in effect for the benefit of such retiring
      Administrative Agent, its sub-agents and their respective Related Parties in
      respect of any actions taken or omitted to be taken by any of them while it
      was
      acting as Administrative Agent.

    

    
      
        
        

      

      
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    Each
      Lender acknowledges that it has, independently and without reliance upon the
      Administrative Agent or any other Lender and based on such documents and
      information as it has deemed appropriate, made its own credit analysis and
      decision to enter into this Agreement. Each Lender also acknowledges that it
      will, independently and without reliance upon the Administrative Agent or any
      other Lender and based on such documents and informa-tion as it shall from
      time
      to time deem appropriate, continue to make its own decisions in taking or not
      taking action under or based upon this Agreement, any related agreement or
      any
      document furnished hereunder or thereunder.

    

    ARTICLE
      IX.

     

    Miscellaneous

    

    Section
      9.01  Notices.
      (a)
      Notices shall be sent as follows:

    

    (i)  if
      to the
      Borrower, to Getty Realty Corp., 125 Jericho Turnpike, Jericho, New York 11753,
      Attention of Chief Financial Officer (Telecopy No. (516) 478-5403 with
      copies to: (x) Getty Realty Corp., 125 Jericho Turnpike, Jericho, New York
      11753, Attention Chief Legal Officer (Telecopy No. (516) 478-5490 and (y) DLA
      Piper Rudnick Gray Cary US LLP, 203 N. LaSalle Street, Suite 1900, Chicago,
      Illinois 60601, Attention: James M. Phipps, Esq. (Telecopy No. (312) 251-5735);
      provided
      that the
      failure to deliver a copy under (y) above shall not affect the effectiveness
      of
      the delivery of such notice or other communication to the Borrower;

    

    (ii)  if
      to the
      Administrative Agent, to JPMorgan Chase Bank, N.A., Credit Services Unit, 1
      Bank
      One Plaza, Suite IL1-0874, Chicago, Illinois 60670, Attention of Credit
      Assistant (Telecopy
      No. (312) 325-3122), with a copy to (x) JPMorgan Chase Bank, N.A., 395 North
      Service Road, Melville, New York 11747, Attention of Stephen M. Zajac (Telecopy
      No. (631) 755-5184) and (y) Farrell Fritz, P.C., One EAB Plaza, Uniondale,
      New
      York 11556, Attention of Robert C. Creighton, Esq. (Telecopy No. (516)
      227-0777); provided
      that the
      failure to deliver a copy under (y) above shall not affect the effectiveness
      of
      the delivery of such notice or other communication to the Administrative Agent;
      

    

    (iii)  if
      to the
      Issuing Bank, to it at 395 North Service Road, Melville, New York 11747,
      Attention of Stephen M. Zajac (Telecopy No. (631) 755-5184), or by email to
      Stephen.Zajac@chase.com;
      

    

    (iv)  if
      to the
      Swingline Lender, to it at 395 North Service Road, Melville, New York 11747,
      Attention of Stephen M. Zajac (Telecopy No. (631) 755-5184, or by e-mail to
      Stephen.Zajac@chase.com;
      and

    

    (v)  if
      to any
      other Lender, to it at its address (or telecopy number) set forth in its
      Administrative Questionnaire. 

    

    (b)  Notices
      and other communications to the Lenders hereunder may be delivered or furnished
      by electronic communications pursuant to procedures approved by the
      Administrative Agent; provided that the foregoing shall not apply to notices
      pursuant to Article II unless otherwise agreed by the Administrative Agent
      and
      the applicable Lender. The Administrative Agent or the Borrower may, in its
      discretion, agree to accept notices and other communications to it hereunder
      by
      electronic communications pursuant to procedures approved by it; provided that
      approval of such procedures may be limited to particular notices or
      communications. 

    

    
      
        
        

      

      
        55

        
          

        

      

      
        
        

      

       

    

    (c)  Any
      party
      hereto may change its address or telecopy number for notices and other
      communications hereunder by notice to the other parties hereto. All notices
      and
      other communications given to any party hereto in accordance with the provisions
      of this Agreement shall be deemed to have been given on the date of
      receipt.

    

    Section
      9.02  Waivers;
      Amendments. 

    

    (a)  No
      failure
      or delay by the Administrative Agent, the Issuing Bank or any Lender in
      exercising any right or power hereunder shall operate as a waiver thereof,
      nor
      shall any single or partial exercise of any such right or power, or any
      abandonment or discontinuance of steps to enforce such a right or power,
      preclude any other or further exercise thereof or the exercise of any other
      right or power. The rights and remedies of the Administrative Agent, the Issuing
      Bank and the Lenders hereunder are cumulative and are not exclusive of any
      rights or remedies that they would otherwise have. No waiver of any provision
      of
      this Agree-ment or consent to any departure by the Borrower therefrom shall
      in
      any event be effective unless the same shall be permitted by paragraph (b)
      of this Section, and then such waiver or consent shall be effec-tive only in
      the
      specific instance and for the purpose for which given. Without limiting the
      generality of the foregoing, the making of a Loan or issuance of a Letter of
      Credit shall not be construed as a waiver of any Default, regardless of whether
      the Administrative Agent, any Lender or the Issuing Bank may have had notice
      or
      knowledge of such Default at the time.

    

    (b)  Neither
      this Agreement nor any provision hereof may be waived, amended or modified
      except pursuant to an agreement or agreements in writing entered into by the
      Borrower and the Required Lenders or by the Borrower and the Administrative
      Agent with the consent of the Required Lenders; provided that no such agreement
      shall 

    

    (i)  increase
      the Commitment of any Lender without the written consent of such Lender,

    (ii)  reduce
      the
      principal amount of any Loan or LC Disbursement or reduce the rate of interest
      thereon, or reduce any fees payable hereunder, without the written consent
      of
      each Lender affected thereby, 

    

    (iii)  postpone
      the scheduled date of payment of the principal amount of any Loan or LC
      Disbursement, or any interest thereon, or any fees payable hereunder, or reduce
      the amount of, waive or excuse any such payment, or postpone the scheduled
      date
      of expiration of any Commitment (other than an extension of the Maturity Date
      pursuant to Section 2.20), without the written consent of each Lender affected
      thereby, 

    

    (iv)  change
      Section 2.18(b) or (c) in a manner that would alter the pro rata sharing of
      payments required thereby, without the written consent of each Lender,
      or

    

    (v)  release
      any Guarantor from its Guaranty, or limit any Guarantor’s liability with respect
      to its Guaranty, except that the Administrative Agent may release from its
      Guaranty any Guarantor which (w) sells all or substantially all of its assets
      in
      accordance with Section 6.04 hereof, (x) encumbers any of its assets as
      permitted under Section 6.03 hereof, (y) does not own
      any of
      the Qualified Real Estate Assets or (z) is a Non-Material Guarantor;

    

    
      
        
        

      

      
        56

        
          

        

      

      
        
        

      

       

    

    (vi)  change
      any
      of the provisions of this Section or the definition of “Required Lenders” or any
      other provision hereof specifying the number or percentage of Lenders required
      to waive, amend or modify any rights hereunder or make any determination or
      grant any consent hereunder, without the written consent of each Lender;

    

    provided
      further that no such agreement shall amend, modify or otherwise affect the
      rights or duties of the Administrative Agent, the Issuing Bank or the Swingline
      Lender hereunder without the prior written consent of the Administrative Agent,
      the Issuing Bank or the Swingline Lender, as the case may be.

    

    Section
      9.03  Expenses;
      Indemnity; Damage Waiver. 

    

    (a)  The
      Borrower shall pay 

    

    (i)  all
      reasonable out-of-pocket expenses incurred by the Administrative Agent and
      its
      Affiliates, including the reasonable fees, charges and disbursements of counsel
      for the Administrative Agent, in connection with the syndication of the credit
      facilities provided for herein, the preparation and administration of this
      Agreement or any amendments, modifications or waivers of the provi-sions hereof
      (whether or not the transactions contemplated hereby or thereby shall be
      consummated), 

    

    (ii)  all
      reasonable out-of-pocket expenses incurred by the Administrative Agent, the
      Issuing Bank or any Lender, including the fees, charges and disbursements of
      any
      counsel for the Administrative Agent, the Issuing Bank or any Lender, in
      connection with the enforcement or protection of its rights in connection with
      this Agreement, including its rights under this Section, or in connection with
      the Loans made or Letters of Credit issued hereunder, including all such
      out-of-pocket expenses incurred during any workout, restructuring or
      negotiations in respect of such Loans or Letters of Credit, provided, however,
      that the attorney's fees and disbursements for which the Borrower is obligated
      under this subsection (a)(ii) shall be limited to the reasonable non-duplicative
      fees and disbursements of (A) counsel for the Administrative Agent and (B)
      counsel for all of the Lenders as a group; and provided, further, that all
      other
      costs and expenses for which the Borrower is obligated under this subsection
      (a)(ii) shall be limited to the reasonable non-duplicative costs and expenses
      of
      the Administrative Agent. For purposes of this Section 9.03(a)(ii), (1) counsel
      for the Administrative Agent shall mean a single outside law firm representing
      Administrative Agent and (2) counsel for all of the Lenders as a group shall
      mean a single outside law firm representing such Lenders as a group (which
      law
      firm may or may not be the same law firm representing the Administrative Agent).
      

    

    (b)  The
      Borrower shall indemnify the Administrative Agent, the Issuing Bank and each
      Lender, and each Related Party of any of the foregoing Persons (each such Person
      being called an “Indemnitee”) against, and hold each Indemnitee harmless from,
      any and all losses, claims, damages, liabilities and related expenses, including
      the fees, charges and disbursements of any counsel for any Indemnitee, incurred
      by or asserted against any Indemnitee arising out of, in connection with, or
      as
      a result of 

    

    (i)  the
      execution or delivery of this Agreement or any agreement or instrument
      contemplated hereby, the performance by the parties hereto of their respective
      obligations hereunder or the consummation of the Transactions or any other
      transactions contemplated hereby, 

    

    
      
        
        

      

      
        57

        
          

        

      

      
        
        

      

       

    

    (ii)  any
      Loan
      or Letter of Credit or the use of the proceeds therefrom (including any refusal
      by the Issuing Bank to honor a demand for payment under a Letter of Credit
      if
      the documents presented in connection with such demand do not strictly comply
      with the terms of such Letter of Credit), 

    

    (iii)  any
      actual
      or alleged presence or release of Materials of Environmental Concern on or
      from
      any property owned or operated by the Borrower or any of its Subsidiaries,
      or
      any Environmental Liability related in any way to the Borrower or any of its
      Subsidiaries, or 

    

    (iv)  any
      actual
      or prospective claim, litigation, investigation or proceeding relating to any
      of
      the foregoing, whether based on contract, tort or any other theory and
      regardless of whether any Indemnitee is a party thereto; 

    

    provided
      that such indemnity shall not, as to any Indemnitee, be available to the extent
      that such losses, claims, damages, liabilities or related expenses are
      deter-mined by a court of competent jurisdiction by final and nonappealable
      judgment to have resulted from the fraud, gross negligence or willful misconduct
      of any Indemnitee. In addition, the indemnification set forth in this Section
      9.03(b) in favor of any Related Party shall be solely in their respective
      capacities as a director, officer, agent or employee, as the case may
      be.

    

    (c)  To
      the
      extent that the Borrower fails to pay any amount required to be paid by it
      to
      the Administrative Agent, the Issuing Bank or the Swingline Lender under
      paragraph (a) or (b) of this Section, each Lender severally agrees to pay to
      the
      Administrative Agent, the Issuing Bank or the Swingline Lender, as the case
      may
      be, such Lender's Applicable Percentage (determined as of the time that the
      applicable unreimbursed expense or indemnity payment is sought) of such unpaid
      amount; provided that the unreimbursed expense or indemnified loss, claim,
      damage, liability or related expense, as the case may be, was incurred by or
      asserted against the Administrative Agent, the Issuing Bank or the Swingline
      Lender in its capacity as such.

    

    (d)  To
      the
      extent permitted by applicable law, the Borrower shall not assert, and hereby
      waives, any claim against any Indemnitee, on any theory of liability, for
      special, indirect, consequential or punitive damages (as opposed to direct
      or
      actual damages) arising out of, in connection with, or as a result of, this
      Agreement or any agreement or instrument contemplated hereby, the Transactions,
      any Loan or Letter of Credit or the use of the proceeds thereof.

    

    (e)  All
      amounts due under this Section shall be payable promptly after written demand
      therefor.

    

    Section
      9.04  Successors
      and Assigns. 

    

    (a)  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
      (including any Affiliate of the Issuing Bank that issues any Letter of Credit),
      except that 

    

    (i)  the
      Borrower may not assign or otherwise transfer any of its rights or obligations
      hereunder without the prior written consent of each Lender (and any attempted
      assignment or transfer by the Borrower without such consent shall be null and
      void) and 

    

    
      
        
        

      

      
        58

        
          

        

      

      
        
        

      

       

    

    (ii)  no
      Lender
      may assign or otherwise transfer its rights or obligations hereunder except
      in
      accordance with this Section. 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 (including any
      Affiliate of the Issuing Bank that issues any Letter of Credit), Participants
      (to the extent provided in paragraph (c) of this Section) and, to the extent
      expressly contemplated hereby, the Related Parties of each of the Administrative
      Agent, the Issuing Bank and the Lenders) any legal or equitable right, remedy
      or
      claim under or by reason of this Agreement.

     

    (b)     
      (i)        Subject
      to
      the conditions set forth in paragraph (b)(ii) below, any Lender may assign
      to
      one or more assignees all or a portion of its rights and obligations under
      this
      Agreement (including all or a portion of its Commitment and the Loans at the
      time owing to it) with the prior written consent (such consent not to be
      unreasonably withheld) of:

    

              
      (A)      the
      Borrower, provided that no consent of the Borrower shall be required for an
      assignment to a Lender, an Affiliate of a Lender, an Approved Fund or, if an
      Event of Default has occurred and is continuing, any other
      assignee;

    

              
      (B)      the
      Administrative Agent, provided that no consent of the Administrative Agent
      shall
      be required for an assignment of any
      Commitment to an assignee that is a Lender with a Commitment immediately prior
      to giving effect to such assignment; and

    

              
      (C)      the
      Issuing Bank.

    

    (ii)  Assignments
      shall be subject to the following additional conditions: 

    

              
      (A)      except
      in
      the case of an assignment to a Lender or an Affiliate of a Lender or an
      assignment of the entire remaining amount of the assigning Lender’s Commitment
      or Loans, the amount of the Commitment or Loans of the assigning Lender subject
      to each such assignment (determined as of the date the Assignment and Assumption
      with respect to such assignment is delivered to the Administrative Agent) shall
      not be less than $5,000,000 and after giving effect to such transfer, the amount
      of the assigning Lender's Commitment or Loans would not be less than $5,000,000,
      unless each of the Borrower and the Administrative Agent otherwise consent,
      provided that no such consent of the Borrower shall be required if an Event
      of
      Default has occurred and is continuing;

    

              
      (B)      each
      partial assignment shall be made as an assignment of a proportionate part of
      all
      the assigning Lender's rights and obligations under this Agreement;

    

              
      (C)      the
      parties to each assignment shall execute and deliver to the Administrative
      Agent
      an Assignment and Assumption, together with a processing and recordation fee
      of
      $3,500; and

    

              
      (D)      the
      assignee, if it shall not be a Lender, shall deliver to the Administrative
      Agent
      an Administrative Questionnaire.

    

    
      
        
        

      

      
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    For
      the
      purposes of this Section 9.04(b), the term “Approved Fund” has the following
      meaning:

    

    “Approved
      Fund”
means
      any Person (other than a natural person) that is engaged in making, purchasing,
      holding or investing in bank loans and similar extensions of credit in the
      ordinary course of its business and that is administered or managed by (a)
      a
      Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an
      entity that administers or manages a Lender.

    

    (iii)  Subject
      to
      acceptance and recording thereof pursuant to paragraph (b)(iv) of this
      Section, from and after the effective date specified in each Assignment and
      Assumption the assignee thereunder shall be a party hereto and, to the extent
      of
      the interest assigned by such Assignment and Assumption, have the rights and
      obligations of a Lender under this Agreement, and the assigning Lender
      thereunder shall, to the extent of the interest assigned by such Assignment
      and
      Assumption, be released from its obliga-tions under this Agreement (and, in
      the
      case of an Assignment and Assumption covering all of the assigning Lender's
      rights and obligations under this Agreement, such Lender shall cease to be
      a
      party hereto but shall continue to be entitled to the benefits of
      Sections 2.15, 2.16, 2.17 and 9.03). Any assignment or transfer by a Lender
      of rights or obligations under this Agreement that does not comply with this
      Section 9.04 shall be treated for purposes of this Agreement as a sale by such
      Lender of a participation in such rights and obligations in accordance with
      paragraph (c) of this Section.

    

    (iv)  The
      Administrative Agent, acting for this purpose as an agent of the Borrower,
      shall
      maintain at one of its offices a copy of each Assignment and Assumption
      delivered to it and a register for the recordation of the names and addresses
      of
      the Lenders, and the Commitment of, and principal amount of the Loans and LC
      Disbursements owing to, each Lender pursuant to the terms hereof from time
      to
      time (the “Register”). The entries in the Register shall be conclusive as to the
      name and Commitment of each Lender, and the Borrower, the Administrative Agent,
      the Issuing Bank and the Lenders may treat each Person whose name is recorded
      in
      the Register pursuant to the terms hereof as a Lender hereunder for all purposes
      of this Agreement, notwithstanding notice to the contrary. The Register shall
      be
      available for inspection by the Borrower, the Issuing Bank and any Lender,
      at
      any reasonable time and from time to time upon reasonable prior
      notice.

    

    (v)  Upon
      its
      receipt of a duly completed Assignment and Assumption executed by an assigning
      Lender and an assignee, the assignee's completed Administrative Questionnaire
      (unless the assignee shall already be a Lender hereunder), the processing and
      recordation fee referred to in paragraph (b) of this Section and any
      written consent to such assignment required by paragraph (b) of this Section,
      the Administrative Agent shall accept such Assignment and Assumption and record
      the information contained therein in the Register; provided that if either
      the
      assigning Lender or the assignee shall have failed to make any payment required
      to be made by it pursuant to Section 2.05(c), 2.06(d) or (e), 2.07(b), 2.18(d)
      or 9.03(c), the Administrative Agent shall have no obligation to accept such
      Assignment and Assumption and record the information therein in the Register
      unless and until such payment shall have been made in full, together with all
      accrued interest thereon. No assignment shall be effective for purposes of
      this
      Agreement unless it has been recorded in the Register as provided in this
      paragraph.

     

    
    

    
      60

      
        

      

    

    
    

    

    (c)   
      (i)      
      Any Lender may, without the consent of the Borrower, the Administrative Agent,
      the Issuing Bank or the Swingline Lender, sell participations to one or more
      Qualified Institutions (a “Participant”) in all or a portion of such Lender's
      rights and obligations under this Agreement (including all or a portion of
      its
      Commitment and the Loans owing to it); provided that (A) such Lender's
      obligations under this Agreement shall remain unchanged, (B) such Lender
      shall remain solely responsible to the other parties hereto for the performance
      of such obligations and (C) the Borrower, the Administrative Agent, the
      Issuing Bank and the other Lenders shall continue to deal solely and directly
      with such Lender in connection with such Lender's rights and obligations under
      this Agreement. Any agreement or instrument pursuant to which a Lender sells
      such a participation shall provide that such Lender shall retain the sole right
      to enforce this Agreement and to approve any amendment, modification or waiver
      of any provision of this Agreement; provided that such agreement or instrument
      may provide that such Lender will not, without the consent of the Participant,
      agree to any amendment, modification or waiver described in the first proviso
      to
      Section 9.02(b) that affects such Participant. Subject to paragraph (c)(ii)
      of
      this Section, the Borrower agrees that each Participant shall be entitled to
      the
      benefits of Sections 2.15, 2.16 and 2.17 to the same extent as if it were a
      Lender and had acquired its interest by assignment pursuant to paragraph (b)
      of
      this Section. To the extent permitted by law, each Participant also shall be
      entitled to the benefits of Section 9.08 as though it were a Lender,
      provided such Participant agrees to be subject to Section 2.18(c) as though
      it
      were a Lender.

     

    (i)  A
      Participant shall not be entitled to receive any greater payment under Section
      2.15 or 2.17 than the applicable Lender would have been entitled to receive
      with
      respect to the participation sold to such Participant, unless the sale of the
      participation to such Participant is made with the Borrower's prior written
      consent. In any event, a Participant that would be a Foreign Lender if it were
      a
      Lender shall not be entitled to the benefits of Section 2.17 unless the
      Borrower is notified of the participation sold to such Participant and such
      Participant agrees, for the benefit of the Borrower, to comply with Section
      2.17(e) as though it were a Lender. 

    

    (d)  Any
      Lender
      may at any time pledge or assign a security interest in all or any portion
      of
      its rights under this Agreement to secure obligations of such Lender, including
      without limitation any pledge or assignment to secure obligations to a Federal
      Reserve Bank, and this Section shall not apply to any such pledge or assignment
      of a security interest; provided that no such pledge or assignment of a security
      interest shall release a Lender from any of its obligations hereunder or
      substitute any such pledgee or assignee for such Lender as a party
      hereto.

    

    Section
      9.05  Survival.
      All
      covenants, agreements, representations and warranties made by the Borrower
      herein and in the certificates or other instru-ments delivered in connection
      with or pursuant to this Agreement shall be considered to have been relied
      upon
      by the other parties hereto and shall survive the execution and delivery of
      this
      Agreement and the making of any Loans and issuance of any Letters of Credit,
      regardless of any investigation made by any such other party or on its behalf
      and notwithstanding that the Administrative Agent, the Issuing Bank or any
      Lender may have had notice or knowledge of any Default or incorrect
      representation or warranty at the time any credit is extended hereunder, and
      shall continue in full force and effect as long as the principal of or any
      accrued interest on any Loan or any fee or any other amount payable under this
      Agreement is outstand-ing and unpaid or any Letter of Credit is outstanding
      and
      so long as the Commitments have not expired or terminated. The provisions of
      Sections 2.15, 2.16, 2.17 and 9.03 and Article VIII shall survive and remain
      in
      full force and effect regardless of the consummation of the Transactions
      contemplated hereby, the repayment of the Loans, the expiration or termination
      of the Letters of Credit and the Commitments or the termination of this
      Agreement or any provision hereof.

    

    
      
        
        

      

      
        61

        
          

        

      

      
        
        

      

    

    Section
      9.06  Counterparts;
      Integration; Effectiveness.
      This
      Agreement may be executed in counterparts (and by different parties hereto
      on
      different counterparts), each of which shall constitute an original, but all
      of
      which when taken together shall constitute a single contract. This Agreement
      and
      any separate letter agreements with respect to fees payable to the
      Administrative Agent constitute the entire contract among the parties relating
      to the subject matter hereof and supersede any and all previous agreements
      and
      understandings, oral or written, relating to the subject matter hereof. Except
      as provided in Section 4.01, this Agreement shall become effective when it
      shall
      have been executed by the Administrative Agent and when the Administrative
      Agent
      shall have received counterparts hereof which, when taken together, bear the
      signatures of each of the other parties hereto, and thereafter shall be binding
      upon and inure to the benefit of the parties hereto and their respective
      successors and assigns. Delivery of an executed counterpart of a signature
      page
      of this Agreement by telecopy shall be effective as delivery of a manually
      executed counterpart of this Agreement.

    

    Section
      9.07  Severability.
      Any
      provision of this Agreement held to be invalid, illegal or unenforceable in
      any
      jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
      such invalidity, illegality or unenforceability without affecting the validity,
      legality and enforceability of the remaining provisions hereof; and the
      invalidity of a particular provision in a particular jurisdiction shall not
      invalidate such provision in any other jurisdiction.

    

    Section
      9.08  Right
      of Setoff.
      If an
      Event of Default shall have occurred and be continuing, each Lender and each
      of
      its Affiliates is hereby authorized at any time and from time to time, to the
      fullest extent permitted by law, to set off and apply any and all deposits
      (general or special, time or demand, provisional or final) at any time held
      and
      other obligations at any time owing by such Lender or Affiliate to or for the
      credit or the account of the Borrower against any of and all the obligations
      of
      the Borrower now or hereafter existing under this Agreement held by such Lender,
      irrespective of whether or not such Lender shall have made any demand under
      this
      Agreement and although such obligations may be unmatured. The rights of each
      Lender under this Section are in addition to other rights and remedies
      (including other rights of setoff) which such Lender may have.

    

    Section
      9.09  Governing
      Law; Jurisdiction; Consent to Service of Process. 

    

    (a)  This
      Agreement shall be construed in accordance with and governed by the law of
      the
      State of New York.

    

    (b)  The
      Borrower hereby irrevocably and unconditionally submits, for itself and its
      property, to the nonexclusive jurisdiction of the Supreme Court of the State
      of
      New York sitting in New York County and of the United States District Court
      of
      the Southern District of New York, and any appellate court from any thereof,
      in
      any action or proceeding arising out of or relating to this Agreement, or for
      recognition or enforcement of any judgment, and each of the parties hereto
      hereby irrevocably and unconditionally agrees that all claims in respect of
      any
      such action or proceeding may be heard and determined in such New York
      State or, to the extent permitted by law, in such Federal court. Each of the
      parties hereto agrees that a non-appealable final judgment in any such action
      or
      proceeding shall be conclusive and may be enforced in other jurisdictions by
      suit on the judgment or in any other manner provided by law. Nothing in this
      Agreement shall affect any right that the Administrative Agent, the Issuing
      Bank
      or any Lender may otherwise have to bring any action or proceeding relating
      to
      this Agreement against the Borrower or its proper-ties in the courts of any
      jurisdiction.

    

    (c)  The
      Borrower hereby irrevocably and unconditionally waives, to the fullest extent
      it
      may legally and effectively do so, any objection which it may now or here-after
      have to the laying of venue of any suit, action or proceeding arising out of
      or
      relating to this Agreement in any court referred to in the first sentence of
      paragraph (b) of this Section. Each of the parties hereto hereby irrevocably
      waives, to the fullest extent permitted by law, the defense of an inconvenient
      forum to the maintenance of such action or proceeding in any such
      court.

    

    
      
        
        

      

      
        62

        
          

        

      

      
        
        

      

       

    

    (d)  Each
      party
      to this Agreement irrevocably consents to service of process in the manner
      provided for notices in Section 9.01. Nothing in this Agreement will affect
      the right of any party to this Agreement to serve process in any other manner
      permitted by law.

    

    Section
      9.10  WAIVER
      OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED
      BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
      PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT
      OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR
      ANY
      OTHER THEORY). EACH PARTY 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 AND THE OTHER PARTIES HERETO
      HAVE BEEN INDUCED TO ENTER INTO THIS AGREE-MENT BY, AMONG OTHER THINGS, THE
      MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

    

    Section
      9.11  Headings.
      Article
      and Section headings and the Table of Contents used herein are for convenience
      of reference only, are not part of this Agreement and shall not affect the
      construction of, or be taken into consideration in interpreting, this
      Agreement.

    

    Section
      9.12  Confidentiality.
      Each of
      the Administrative Agent, the Issuing Bank and the Lenders agrees to maintain
      the confidentiality of the Information (as defined below), except that
      Information may be disclosed 

    

    (a)  to
      its and
      its Affiliates' directors, officers, employees and agents, including
      accountants, legal counsel and other advisors actively involved in the
      administration or enforcement of the Loans or in any current or prospective
      relationship with the Company and its Subsidiaries or in connection with an
      internal purposes related to credit review, portfolio analysis or otherwise
      (it
      being understood that the Persons to whom such disclosure is made will be
      informed of the confidential nature of such Information and instructed to keep
      such Information confidential), 

    

    (b)  to
      the
      extent requested by any regulatory authority, 

    

    (c)  to
      the
      extent required by applicable laws or regulations or by any subpoena or similar
      legal process; provided, however, that in the event Administrative Agent or
      any
      Lender receives a subpoena or other legal process to disclose confidential
      information to any party, Administrative Agent or such Lender shall, if legally
      permitted, endeavor to notify Borrower thereof as soon as possible after receipt
      of such request, summons or subpoena, provided, however, that in the event
      that
      the Administrative Agent or any Lender receives a subpoena or other legal
      process to disclose confidential information to any party, the Administrative
      Agent or such Lender shall, if legally permitted, endeavor to notify the
      Borrower thereof as soon as possible after receipt of such request, summons
      or
      subpoena so that the Borrower may seek protective order or other appropriate
      remedy, provided that no such notification shall be required in respect of
      any
      disclosure to regulatory authorities having jurisdiction over the Administrative
      Agent or such Lender, 

    

    
      
        
        

      

      
        63

        
          

        

      

      
        
        

      

       

    

    (d)  to
      any
      other party to this Agreement, 

    

    (e)  in
      connection with the exercise of any remedies hereunder or any suit, action
      or
      proceeding relating to this Agreement or the enforcement of rights hereunder,
      

    

    (f)  subject
      to
      an agreement or electronic acknowledgment (i.e., Intralinks) containing
      provisions substantially the same as those of this Section and provided that
      Borrower's written consent is obtained before disclosure to any prospective
      assignee, Participant or counterparty which is not a Qualified Institution,
      to:

    

    (i)  any
      assignee of or Participant in, or any prospective assignee of or Participant
      in,
      any of its rights or obligations under this Agreement or 

    

    (ii)  any
      actual
      or prospective counterparty (or its advisors) to any swap or derivative
      transaction relating to the Borrower and its obligations, 

    

     (g)      with
      the
      consent of the Borrower, or 

    

     (h)    
      to
      the
      extent such Information (i) becomes publicly available other than as a
      result of a breach of this Section or (ii) becomes available to the
      Administrative Agent, the Issuing Bank or any Lender on a nonconfidential basis
      from a source other than the Borrower. 

    

    For
      the
      purposes of this Section, “Information” means all information received from the
      Borrower relating to the Borrower or its business, other than any such
      information that is available to the Administrative Agent, the Issuing Bank
      or
      any Lender on a nonconfidential basis prior to disclosure by the Borrower.
      Any
      Person required to maintain the confidentiality of Information as provided
      in
      this Section shall be considered to have complied with its obligation to do
      so
      if such Person has exercised the same degree of care to maintain the
      confidentiality of such Information as such Person would accord to its own
      confidential information.

    

    Section
      9.13  USA
      PATRIOT Act.
      Each
      Lender that is subject to the requirements of the USA Patriot Act (Title III
      of
      Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”) hereby notifies
      the Borrower that pursuant to the requirements of the Act, it is required to
      obtain, verify and record information that identifies the Borrower, which
      information includes the name and address of the Borrower and other information
      that will allow such Lender to identify the Borrower in accordance with the
      Act.

    

    Section
      9.14  Syndication
      Agent.
      Charter
      One Bank, N.A., in
      its
      capacity as Syndication Agent shall have no responsibilities or obligations
      hereunder, provided that the provisions of this Section 9.14 shall not affect
      or
      limit its responsibilities, rights or obligations as a Lender
      hereunder.

    

    

    

    
      
        
        

      

      
        64

        
          

        

      

      
        
        

      

    

     

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

     

    
      	 	GETTY
              REALTY CORP.
	 	 	 
	 	 	 
	 	By:	/s/
              Andrew M. Smith
	 	 	Name:
              Andrew M. Smith
	 	 	Title:
              President

     

     

    
      
        
        

      

      
        65

        
          

        

      

      
        
        

      

    

    

      	 	JPMORGAN
              CHASE BANK, N.A., individually and as Administrative Agent,
	 	 	 
	 	 	 
	 	By:	/s/
              Stephen M. Zajac
	 	 	Name:
              Stephen M. Zajac
	 	 	Title:
              Senior Vice President

     

     

    
      
        
        

      

      
        66

        
          

        

      

      
        
        

      

    

    

      	
            	BANK
              OF AMERICA, N.A
	 	 	 
	 	 	 
	 	By:	/s/
              Mark Lariviere
	 	 	Name:
              Mark Lariviere
	 	 	Title:
              Senior Vice President

    

     

    

 

    
      
        
        

      

      
        67

        
          

        

      

      
        
        

      

    

    

      	
            	CHARTER
              ONE BANK, N.A., individually and as Syndication Agent
	 	 	 
	 	 	 
	 	By:	/s/
              Michele Jaywn
	 	 	Name:
              Michele Jaywn
	 	 	Title:
              Vice President

    

    
 

     

     

    
      
        
        

      

      
        68

        
          

        

      

      
        
        

      

    

    

      	
            	ISRAEL
              DISCOUNT BANK OF NEW YORK
	 	 	 
	 	 	 
	 	By:	/s/
              Scott Fishbein
	 	 	Name:
              Scott Fishbein
	 	 	Title:
              First Vice President
	 	 	 
	 	 	 
	 	By:	/s/
              Michael Paul
	 	 	Name:
              Michael Paul
	 	 	Title:
              Assistant Vice President

    

    
 

     

     

    
      
        
        

      

      
        69

        
          

        

      

      
        
        

      

    

    

      	
            	NORTH
              FORK BANK
	 	 	 
	 	 	 
	 	By:	/s/
              Philip Davi
	 	 	Name:
              Philip Davi
	 	 	Title:
              Senior Vice President

    

     

     

     

     

    
      
        
        

      

      
        70

        
          

        

      

      
        
        

      

    

    

      	
            	HSBC
              BANK USA, NATIONAL ASSOCIATION
	 	 	 
	 	 	 
	 	By:	/s/
              Andrew D. Ackerman
	 	 	Name:
              Andrew D. Ackerman
	 	 	Title:
              First Vice President

    

     

    
 

     

    
      
        
        

      

      
        71

        
          

        

      

      
        
        

      

       

      
        	
              	WACHOVIA
                BANK, N.A.
	 	 	 
	 	 	 
	 	By:	/s/
                Shawn McGovern
	 	 	Name:
                Shawn McGowen
	 	 	Title:
                Vice President

      

       

       

       

       

    

    
      
        
        

      

      
        72

        
          

        

      

      
        
        

      

    

    
      	
            	SOVEREIGN
              BANK 
	 	 	 
	 	 	 
	 	By:	/s/
              William Conlan
	 	 	Name:
              William Conlan
	 	 	Title:
              Vice President

    

     

     

     

     

    
      
        
        

      

      
        73

        
          

        

      

      
        
        

      

    

     

     

    EXHIBIT
      A

    ASSIGNMENT
      AND ASSUMPTION

    

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

    

    For
      an
      agreed consideration, the Assignor hereby irrevocably sells and assigns to
      the
      Assignee, and the Assignee hereby irrevocably purchases and assumes from the
      Assignor, subject to and in accordance with the Standard Terms and Conditions
      and the Credit Agreement, as of the Effective Date inserted by the
      Administrative Agent as contemplated below (i) all of the Assignor’s rights and
      obligations in its capacity as a Lender under the Credit Agreement and any
      other
      documents or instruments delivered pursuant thereto to the extent related to
      the
      amount and percentage interest identified below of all of such outstanding
      rights and obligations of the Assignor under the respective facilities
      identified below (including any letters of credit, guarantees, and swingline
      loans included in such facilities) and (ii) to the extent permitted to be
      assigned under applicable law, all claims, suits, causes of action and any
      other
      right of the Assignor (in its capacity as a Lender) against any Person, whether
      known or unknown, arising under or in connection with the Credit Agreement,
      any
      other documents or instruments delivered pursuant thereto or the loan
      transactions governed thereby or in any way based on or related to any of the
      foregoing, including contract claims, tort claims, malpractice claims, statutory
      claims and all other claims at law or in equity related to the rights and
      obligations sold and assigned pursuant to clause (i) above (the rights and
      obligations sold and assigned pursuant to clauses (i) and (ii) above being
      referred to herein collectively as the “Assigned Interest”). Such sale and
      assignment is without recourse to the Assignor and, except as expressly provided
      in this Assignment and Assumption, without representation or warranty by the
      Assignor.

    

    1.        
      Assignor:                         
      ______________________________

    

    2.        
      Assignee:                         
      ______________________________

    [and
      is an
      Affiliate/Approved Fund of [identify Lender]2]

    

    3.        
      Borrower(s):                    
      ______________________________

    

    4.        
      Administrative
      Agent:      ______________________,
      as the administrative agent under the Credit Agreement

    

    5.        
      Credit
      Agreement:          
The
      $175,000,000 Credit Agreement dated as of March __, 2007 among Getty Realty
      Corp., the Lenders parties thereto, JPMorgan Chase Bank, N.A., as Administrative
      Agent,

    and
      the
      other agents parties thereto.

    

    
       

      
        

      

    

     2
      Select as
      applicable.

     

    
      
        
        

      

      
        A-1

        
          

        

      

      
        
        

      

    

    

    6.        
      Assigned Interest:

     

    
      	
              Facility
                Assigned

            	
              Aggregate
                Amount of 

              Commitment/Loans
                for

              all
                Lenders

            	
              Amount
                of

              Commitment/Loans

              Assigned

            	
              Percentage
                Assigned of

              Commitment/Loans

            
	 	
              $

            	
              $

            	
              %

            
	 	
              $

            	
              $

            	
              %

            
	 	
              $

            	
              $

            	
              %

            

    

    

    

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

    

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

     

    
      	
            	ASSIGNOR
	 	 
	 	[NAME
              OF ASSIGNOR]
	 	 
	 	 
	 	By:	_____________________________
	 	Title:	 
	 	 
	 	 
	 	ASSIGNEE
	 	 
	 	[NAME
              OF ASSIGNEE]
	 	 
	 	 
	 	By:	_____________________________
	 	Title: 	 

    

     

     

     

    

    
      
        
        

      

      
        A-2

        
          

        

      

      
        
        

      

    

    [Consented
      to and] Accepted:

    

    [NAME
      OF
      ADMINISTRATIVE AGENT], as 

    Administrative
      Agent

    

    

    By:
      _________________________________

    Title:

    

    

    [Consented
      to:] 

    

    [NAME
      OF
      RELEVANT PARTY]

    

    

    By:
      ________________________________

    Title:

     

     

     

     

    
      
        
        

      

      
        A-3

        
          

        

      

      
        
        

      

    

    
      
 

      ANNEX
        1

      

      [__________________]

      

      STANDARD
        TERMS AND CONDITIONS FOR

      ASSIGNMENT
        AND ASSUMPTION

      

      1.
        Representations and Warranties. 

      

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

      

      1.2.
        Assignee. The Assignee (a) represents and warrants that (i) it has full power
        and authority, and has taken all action necessary, to execute and deliver
        this
        Assignment and Assumption and to consummate the transactions contemplated
        hereby
        and to become a Lender under the Credit Agreement, (ii) it satisfies the
        requirements, if any, specified in the Credit Agreement that are required
        to be
        satisfied by it in order to acquire the Assigned Interest and become a Lender,
        (iii) from and after the Effective Date, it shall be bound by the provisions
        of
        the Credit Agreement as a Lender thereunder and, to the extent of the Assigned
        Interest, shall have the obligations of a Lender thereunder, (iv) it has
        received a copy of the Credit Agreement, together with copies of the most
        recent
        financial statements delivered pursuant to Section 5.01 thereof, as applicable,
        and such other documents and information as it has deemed appropriate to
        make
        its own credit analysis and decision to enter into this Assignment and
        Assumption and to purchase the Assigned Interest on the basis of which it
        has
        made such analysis and decision independently and without reliance on the
        Administrative Agent or any other Lender, and (v) if it is a Foreign Lender,
        attached to the Assignment and Assumption is any documentation required to
        be
        delivered by it pursuant to the terms of the Credit Agreement, duly completed
        and executed by the Assignee; and (b) agrees that (i) it will, independently
        and
        without reliance on the Administrative Agent, the Assignor or any other Lender,
        and based on such documents and information as it shall deem appropriate
        at the
        time, continue to make its own credit decisions in taking or not taking action
        under the Loan Documents, and (ii) it will perform in accordance with their
        terms all of the obligations which by the terms of the Loan Documents are
        required to be performed by it as a Lender.

      

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

      

      
        
          
          

        

        
          A-4

          
            

          

        

        
          
          

        

         

      

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

      

 

      
        
          
          

        

        
          A-5

          
            

          

        

        
          
          

        

         

         

      

      EXHIBIT
        B

      

      
 

      OPINION
        OF
        COUNSEL FOR THE BORROWER

      

       

       

      [Effective
        Date]

      

      

      

      To
        the
        Lenders and the Administrative

      Agent
        Referred to Below

      c/o JPMorgan
        Chase Bank, N.A., as

      Administrative
        Agent

      270
        Park
        Avenue

      New York,
        New York 10017

      

      Dear
        Sirs:

      

      We
        have
        acted as counsel for Getty Realty Corp., a Maryland corporation (the
“Borrower”), in connection with the Credit Agreement dated as of March 27, 2007
        (the “Credit Agreement”), among the Borrower, the banks and other financial
        institutions identified therein as Lenders, and JPMorgan Chase Bank, N.A.,
        as
        Administrative Agent and the other agents party thereto. Terms defined in
        the
        Credit Agreement are used herein with the same meanings.

      

      We
        have
        examined originals or copies, certified or otherwise identified to our
        satisfaction, of such documents, corporate records, certificates of public
        officials and other instruments and have conducted such other investigations
        of
        fact and law as we have deemed necessary or advisable for purposes of this
        opinion.

      

      Upon
        the
        basis of the foregoing, we are of the opinion that:

      

      1.
        The
        Borrower (a) is a corporation duly organized, validly existing and in good
        standing under the laws of Maryland, (b) has all requisite power and authority
        to carry on its business as now conducted and (c) except where the failure
        to do
        so, individually or in the aggregate, could not reasonably be expected to
        result
        in a Material Adverse Effect, is qualified to do business in, and is in good
        standing in, every jurisdiction where such qualification is
        required.

      

      2.
        The
        Transactions are within the Borrower's corporate powers and have been duly
        authorized by all necessary corporate and, if required, stockholder action.
        The
        Credit Agreement has been duly executed and delivered by the Borrower and
        constitutes a legal, valid and binding obligation of the Borrower, enforceable
        in accordance with its terms, subject to applicable bankruptcy, insolvency,
        reorganization, moratorium or other laws affecting creditors' rights generally
        and subject to general principles of equity, regardless of whether considered
        in
        a proceeding in equity or at law.

      

      3.
        The
        Transactions (a) do not require any consent or approval of, registration
        or
        filing with, or any other action by, any Governmental Authority, except such
        as
        have been obtained or made and are in full force and effect, (b) will not
        violate any applicable law or regulation or the charter, by-laws or other
        organizational documents of the Borrower or any of its Subsidiaries or any
        order
        of any Governmental Authority, (c) will not violate or result in a default
        under
        any indenture, agreement or other instrument binding upon the Borrower or
        any of
        its Subsidiaries or its assets, or give rise to a right thereunder to require
        any payment to be made by the Borrower or any of its Subsidiaries, and (d)
        will
        not result in the creation or imposition of any Lien on any asset of the
        Borrower or any of its Subsidiaries.

      

      
        
          
          

        

        
          B-1

          
            

          

        

        
          
          

        

         

      

      4.
        There
        are no actions, suits or proceedings by or before any arbitrator or Governmental
        Authority pending against or, to our knowledge, threatened against or affecting
        the Borrower or any of its Subsidiaries (a) as to which there is a
        reasonable possi-bility of an adverse determination and that, if adversely
        deter-mined, could reasonably be expected, individually or in the aggregate,
        to
        have a Material Adverse Effect (other than the Disclosed Matters) or
        (b) that involve the Credit Agreement or the Transactions.

      

      5.
        Neither
        the Borrower nor any of its Subsidiaries is (a) an “investment company” as
        defined in, or subject to regulation under, the Investment Company Act of
        1940
        or (b) a “holding company” as defined in, or subject to regula-tion under,
        the Public Utility Holding Company Act of 1935.

      

      We
        are
        members of the bar of the State of [ ] and the foregoing opinion is limited
        to
        the laws of the State of Maryland, the State of New York, [the General
        Corporation Law of the State of Delaware] and the Federal laws of the United
        States of America. We note that the Credit Agreement is governed by the laws
        of
        the State of New York [and, for purposes of the opinion expressed in
        paragraph 2 above, we have assumed that the laws of the State of New York
        do not differ from the laws of Maryland in any manner that would render such
        opinion incorrect.] This opinion is rendered solely to you in connection
        with
        the above matter. This opinion may not be relied upon by you for any other
        purpose or relied upon by any other Person (other than your successors and
        assigns as Lenders and Persons that acquire participations in your Loans)
        without our prior written consent.

       

      
        
          	
                	Very
                  truly yours,
	 	 
	 	 
	 	[    
                  ]

        

      

       

       

       

       

      
        
          
          

        

        
          B-2

          
            

          

        

        
          
          

        

      

      

      EXHIBIT
        C

      

      GUARANTY

      

      THIS
        GUARANTY
        is
        entered into as of the 27th
        day of
        March, 2007, by EACH
        OF THE UNDERSIGNED (each
        a
“Guarantor” and, collectively, the “Guarantors”) in favor of and for the benefit
        of the Administrative Agent and the Lenders, as defined in the Credit Agreement
        referred to below.

      

      RECITALS

      

      A.            
        Pursuant
        to a Credit Agreement dated the date hereof, by and among Getty Realty Corp.
        (the “Company”), JPMorgan Chase Bank, N.A., as Administrative Agent and the
        other agents party thereto, and the various Lenders as are or may from time
        to
        time become parties thereto (as the same may be amended, modified, restated
        or
        supplemented from time to time, the “Credit Agreement”), the Company will
        receive Loans and other financial accommodations from the Administrative
        Agent
        and Lenders and will incur Indebtedness owing to the Administrative Agent
        and
        the Lenders (herein, the “Obligations”). 

      

      B.            
        The
        Guarantors, being members of a group of entities affiliated with the Company
        and
        being engaged in related businesses will receive direct and indirect benefits
        from such Loans and financial accommodations. 

      

      C.             Each
        Guarantor wishes to grant the Administrative Agent and Lenders security and
        assurance in order to secure the payment and performance by the Company of
        all
        of its present and future Obligations, and, to that effect, to guaranty the
        Obligations as set forth herein.

      

      Accordingly,
        each Guarantor hereby agrees as follows:

      

      1.             Guaranty. 

      

      (a)        
        Each
        Guarantor, jointly and severally, unconditionally and irrevocably guarantees
        to
        the Administrative Agent and the Lenders the full and punctual payment by
        the
        Company, when due, whether at the stated due date, by acceleration or otherwise,
        of all Obligations of the Company, howsoever created, arising or evidenced,
        voluntary or involuntary, whether direct or indirect, absolute or contingent,
        now or hereafter existing, owing to the Administrative Agent or the Lenders
        under the Credit Agreement (collectively, the “Guaranteed Obligations”). This
        Guaranty is an absolute, unconditional, continuing guaranty of payment and
        not
        of collection of the Guaranteed Obligations and includes Guaranteed Obligations
        arising from successive transactions which shall either continue such Guaranteed
        Obligations or from time to time renew such Guaranteed Obligations after
        the
        same have been satisfied. This Guaranty is in no way conditioned upon any
        attempt to collect from the Company or upon any other event or contingency,
        and
        shall be binding upon and enforceable against each Guarantor without regard
        to
        the validity or enforceability of the Credit Agreement or any other document
        or
        agreement executed in connection therewith (with the Credit Agreement,
        collectively, the “Loan Documents”) or of any term of any thereof. If for any
        reason the Company shall fail or be unable duly and punctually to pay any
        of the
        Guaranteed Obligations (including, without limitation, amounts that would
        become
        due but for the operation of the automatic stay under Section 362(a) of the
        Bankruptcy Code, 11 U.S.C. § 362(a)), each Guarantor will forthwith pay the
        same, in cash, immediately upon demand.

      

      (b)        
        In
        the
        event the Credit Agreement or any other Loan Document shall be terminated
        as a
        result of the rejection thereof by any trustee, receiver or liquidating agent
        of
        the Company or any of its properties in any bankruptcy, insolvency,
        reorganization, arrangement, composition, readjustment, liquidation, dissolution
        or similar proceeding, each Guarantor’s obligations hereunder shall continue to
        the same extent as if the Credit Agreement or such other Loan Document had
        not
        been so rejected.

      

      
        
          
          

        

        
          C-1

          
            

          

        

        
          
          

        

         

      

      (c)        
        Each
        Guarantor shall pay all costs, expenses (including, without limitation,
        reasonable attorneys’ fees and disbursements) and damages incurred in connection
        with the enforcement of the Guaranteed Obligations of the Company under the
        Credit Agreement or any other Loan Document to the extent that such costs,
        expenses and damages are not paid by the Company pursuant to the respective
        documents.

      

      (d)        
        Each
        Guarantor further agrees that if any payment made by the Company or any
        Guarantor to the Administrative Agent or the Lenders on any Obligation or
        Guaranteed Obligation, as applicable, is rescinded, recovered from or repaid
        by
        the Administrative Agent or the Lenders, in whole or in part, in any bankruptcy,
        insolvency or similar proceeding instituted by or against the Company or
        any
        Guarantor, this Guaranty shall continue to be fully applicable to such
        Guaranteed Obligation to the same extent as though the payment so recovered
        or
        repaid had never originally been made on such Guaranteed
        Obligation.

      

      (e) 
               If
        any
        Event of Default shall have occurred and be continuing, the Administrative
        Agent, the Lenders, and any Affiliate of the Administrative Agent or any
        Lender
        is hereby authorized at any time and from time to time, to the fullest extent
        permitted by law, to set off and apply any and all deposits (general or special,
        time or demand, provisional or final) at any time held and other indebtedness
        at
        any time owing by the Administrative Agent or the Lenders, or any Affiliate
        of
        the Administrative Agent or a Lender to or for the credit or the account
        of any
        Guarantor against any of and all the obligations of any Guarantor now or
        hereafter existing under this Guaranty, irrespective of whether or not the
        Administrative Agent or any Lender shall have made any demand hereunder and
        although such obligations may be unmatured. The rights under this paragraph
        1(e)
        are in addition to other rights and remedies (including other rights of set
        off)
        which the Administrative Agent and the Lenders may have. 

      

      2.            
        Guaranty
        Continuing, Absolute, Unlimited. 

      

      The
        obligations of each Guarantor hereunder shall be continuing, absolute,
        irrevocable, unlimited and unconditional, shall not be subject to any
        counterclaim, set-off, deduction or defense based upon any claim any Guarantor
        may have against the Administrative Agent, any Lender or the Company or any
        other person, and shall remain in full force and effect without regard to,
        and,
        to the fullest extent permitted by applicable law, shall not be released,
        discharged or in any way affected by, any circumstance or condition (whether
        or
        not any Guarantor shall have any knowledge or notice thereof) whatsoever
        which
        might constitute a legal or equitable discharge or defense including, but
        not
        limited to, (a) any express or implied amendment, modification or supplement
        to
        the Credit Agreement or any other Loan Document or any other agreement referred
        to in any thereof, or any other instrument applicable to the Company or to
        the
        Loans, or the Letters of Credit or any part thereof, provided that in the
        event
        that such amendment, modification or supplement shall decrease or discharge
        the
        amount of the Obligations, the Guaranty Obligations shall be similarly decreased
        or discharged; (b) any failure on the part of the Company to perform or comply
        with the Credit Agreement or any other Loan Document or any failure of any
        other
        person to perform or comply with any term of the Credit Agreement or any
        other
        Loan Document or any other agreement as aforesaid; (c) any waiver, consent,
        change, extension, indulgence or other action or any action or inaction under
        or
        in respect of the Credit Agreement or any other Loan Document or any other
        agreement as aforesaid, whether or not the Administrative Agent, any Lender,
        the
        Company or any Guarantor has notice or knowledge of any of the foregoing;
        (d)
        any bankruptcy, insolvency, reorganization, arrangement, readjustment,
        composition, liquidation or similar proceeding with respect to the Company,
        or
        its properties or its creditors, or any action taken by any trustee or receiver
        or by any court in any such proceeding; (e) any furnishing or acceptance
        of
        additional security or any release of any security; (f) any limitation on
        the
        liability or obligations of the Company under the Credit Agreement or any
        other
        Loan Document or any termination, cancellation, frustration, invalidity or
        unenforceability, in whole or in part, of the Credit Agreement, this Guaranty
        or
        any other Loan Document or any term of any thereof; (g) any lien, charge
        or
        encumbrance on or affecting any Guarantor’s or any of the Company’s respective
        assets and properties; (h) any act, omission or breach on the part of the
        Administrative Agent or any Lender under the Credit Agreement or any other
        Loan
        Document or any other agreement at any time existing between the Administrative
        Agent, any Lender and the Company or any law, governmental regulation or
        other
        agreement applicable to the Administrative Agent, any Lender or any Loan;
        (i)
        any claim as a result of any other dealings among the Administrative Agent,
        any
        Lender, any Guarantor or the Company; (j) the assignment of this Guaranty,
        the
        Credit Agreement or any other Loan Document by the Administrative Agent or
        any
        Lender to any other Person, to the extent and in the manner permitted under
        the
        Credit Agreement; or (k) any change in the name of the Administrative Agent,
        any
        Lender, the Company or any other Person referred to herein.

      

      
        
          
          

        

        
          C-2

          
            

          

        

        
          
          

        

         

      

      3.            
        Waiver. 

      

      Each
        Guarantor unconditionally waives, to the fullest extent permitted by applicable
        law: (a) notice of any of the matters referred to in Section 2 hereof, except
        as
        expressly provided herein; (b) all notices which may be required by statute,
        rule of law or otherwise to preserve any rights against any Guarantor hereunder,
        including, without limitation, notice of the acceptance of this Guaranty,
        or the
        creation, renewal, extension, modification or accrual of the Guaranteed
        Obligations or notice of any other matters relating thereto, any presentment,
        demand, notice of dishonor, protest, nonpayment of any damages or other amounts
        payable under the Credit Agreement or any other Loan Documents; (c) any
        requirement for the enforcement, assertion or exercise of any right, remedy,
        power or privilege under or in respect of the Credit Agreement or any other
        Loan
        Documents, including, without limitation, diligence in collection or protection
        of or realization upon the Guaranteed Obligations or any part thereof or
        any
        collateral thereof; (d) any requirement of diligence; (e) any requirement
        to
        mitigate the damages resulting from a default by the Company under the Credit
        Agreement or any other Loan Documents; (f) the occurrence of every other
        condition precedent to which any Guarantor or the Company may otherwise be
        entitled; (g) the right to require the Administrative Agent or the Lenders
        to
        proceed against the Company or any other person liable on the Guaranteed
        Obligations, to proceed against or exhaust any security held by the Company
        or
        any other person, or to pursue any other remedy in the Administrative Agent’s or
        any Lender’s power whatsoever, and (h) the right to have the property of the
        Company first applied to the discharge of the Guaranteed
        Obligations.

      

      The
        Administrative Agent and the Lenders may, at their election, exercise any
        right
        or remedy they may have against the Company without affecting or impairing
        in
        any way the liability of any Guarantor hereunder and each Guarantor waives,
        to
        the fullest extent permitted by applicable law, any defense arising out of
        the
        absence, impairment or loss of any right of reimbursement, contribution or
        subrogation or any other right or remedy of any Guarantor against the Company,
        whether resulting from such election by the Administrative Agent or the Lenders
        or otherwise. Each Guarantor waives any defense arising by reason of any
        disability or other defense of the Company or by reason of the cessation
        for any
        cause whatsoever of the liability, either in whole or in part, of the Company
        to
        the Administrative Agent and the Lenders for the Guaranteed Obligations.
        

      

      Each
        Guarantor assumes the responsibility for being and keeping informed of the
        financial condition of the Company and of all other circumstances bearing
        upon
        the risk of nonpayment of the Guaranteed Obligations and agrees that neither
        the
        Administrative Agent nor the Lenders shall have any duty to advise any Guarantor
        of information regarding any condition or circumstance or any change in such
        condition or circumstance. Each Guarantor acknowledges that neither the
        Administrative Agent nor the Lenders have made any representations to any
        Guarantor concerning the financial condition of the Company.

      

      
        
          
          

        

        
          C-3

          
            

          

        

        
          
          

        

         

      

      4.            
        Representations
        and Covenants of each Guarantor.

      

      (a)        
        The
        representations and warranties contained in Article III of the Credit Agreement,
        to the extent they relate and are applicable to a Guarantor, are true and
        correct in all material respects as of the date hereof (or, as to any Guarantor
        becoming a party to this Guaranty after the date hereof, as of the date such
        Guarantor became a party hereto) and the Administrative Agent and the Lenders
        are entitled to rely on such representations and warranties to the same extent
        as though the same were set forth in full herein.

      

      (b)        
        Each
        Guarantor hereby agrees to perform the covenants contained in Article V and
        Article VI of the Credit Agreement, to the extent they relate and are applicable
        to the Guarantor, and the Administrative Agent and the Lenders are entitled
        to
        rely on such agreement to perform such covenants to the same extent as though
        the same were set forth in full herein.

      

      5.            
        Payments.

      

      Each
        payment by each Guarantor to the Administrative Agent and the Lenders under
        this
        Guaranty shall be made in the time, place and manner provided for payments
        in
        the Credit Agreement without set-off or counterclaim to the account at which
        such payment is required to be paid by the Company under the Credit
        Agreement.

      

      6.            
        Parties.

      

      This
        Guaranty shall inure to the benefit of the Administrative Agent, the Lenders
        and
        their respective successors, assigns or transferees, and shall be binding
        upon
        the Guarantors and their respective successors and assigns. No Guarantor
        may
        delegate any of its duties under this Guaranty without the prior written
        consent
        of the Agent and the Lenders.

      

      7.            
        Notices.

      (a)        
        Notices
        shall be sent as follows: 

      

       (i)        if
        to the
        Administrative Agent, to JPMorgan Chase Bank, N.A., Credit Services Unit,
        1 Bank
        One Plaza, Suite IL1-0874, Chicago, Illinois 60670, Attention of Credit
        Assistant (Telecopy
        No. (312) 325-3122), with a copy to (x) JPMorgan Chase Bank, N.A., 395 North
        Service Road, Melville, New York 11747, Attention of Stephen M. Zajac (Telecopy
        No. (631) 755-5184) and (y) Farrell Fritz, P.C., One EAB Plaza, Uniondale,
        New
        York 11556, Attention of Robert C. Creighton, Esq. (Telecopy No. (516)
        227-0777); provided
        that the
        failure to deliver a copy under (y) above shall not affect the effectiveness
        of
        the delivery of such notice or other communication to the Administrative
        Agent;

       

       (ii)       if
        to any
        Lender, to it at its address (or telecopy number) set forth in its
        Administrative Questionnaire;

       

       (iii)      if
        to a
        Guarantor, to it c/o Getty Realty Corp., 125 Jericho Turnpike, Jericho, New
        York
        11753, Attention of Chief Financial Officer (Telecopy No. (516) 478-5403
        with copies to: (x) Getty Realty Corp., 125 Jericho Turnpike, Jericho, New
        York
        11753, Attention Chief Legal Officer (Telecopy No. (516) 478-5490 and (y)
        DLA
        Piper Rudnick Gray Cary US LLP, 203 N. LaSalle Street, Suite 1900, Chicago,
        Illinois 60601, Attention: James M. Phipps, Esq. (Telecopy No. (312) 251-5735);
        provided
        that the
        failure to deliver a copy under (y) above shall not affect the effectiveness
        of
        the delivery of such notice or other communication to the Borrower;

      

      
        
          
          

        

        
          C-4

          
            

          

        

        
          
          

        

         

      

       (iv)      
        as
        to each
        such party at such other address as such party shall have designated to the
        other in a written notice complying as to delivery with the provisions of
        this
        Section 7.

      

       (b)        Notices
        and other communications to the Lenders hereunder may be delivered or furnished
        by electronic communications pursuant to procedures approved by the
        Administrative Agent. The Administrative Agent or any Guarantor may, in its
        discretion, agree to accept notices and other communications to it hereunder
        by
        electronic communications pursuant to procedures approved by it; provided
        that
        approval of such procedures may be limited to particular notices or
        communications. 

      

       (c)       
        Any
        party
        hereto may change its address or telecopy number for notices and other
        communications hereunder by notice to the other parties hereto. All notices
        and
        other communications given to any party hereto in accordance with the provisions
        of this Guaranty shall be deemed to have been given on the date of
        receipt.

       

      
        8.            
          Remedies.

         

      

      Each
        Guarantor stipulates that the remedies at law in respect of any default or
        threatened default by a Guarantor in the performance of or compliance with
        any
        of the terms of this Guaranty are not and will not be adequate, and that
        any of
        such terms may be specifically enforced by a decree for specific performance
        or
        by an injunction against violation of any such terms or otherwise.

      

      9.            
        Rights
        to Deal with the Company.

      

      At
        any
        time and from time to time, without terminating, affecting or impairing the
        validity of this Guaranty or the obligations of any Guarantor hereunder,
        the
        Administrative Agent and the Lenders may deal with the Company in the same
        manner and as fully as if this Guaranty did not exist and shall be entitled,
        among other things, to grant the Company, without notice or demand and without
        affecting any Guarantor’s liability hereunder (except to the extent of any
        change in the terms of such indebtedness), such extension or extensions of
        time
        to perform, renew, compromise, accelerate or otherwise change the time for
        payment of or otherwise change the terms of indebtedness or any part thereof
        contained in or arising under the Credit Agreement or any other Loan Documents,
        or to waive any obligation of the Company to perform, any act or acts as
        the
        Administrative Agent and the Lenders may deem advisable.

      

      10.           Subrogation.

      

      (a)       
        Upon
        any
        payment made or action taken by a Guarantor pursuant to this Guaranty, such
        Guarantor shall, subject to the provisions of Sections 10(b) and (c) hereof,
        be
        fully subrogated to all of the rights of the Administrative Agent and the
        Lenders against the Company arising out of the action or inaction of the
        Company
        for which such payment was made or action taken by such Guarantor.

      

      (b)       
        Any
        claims
        of such Guarantor against the Company arising from payments made or actions
        taken by such Guarantor pursuant to the provisions of this Guaranty shall
        be in
        all respects subordinate to the full and complete or final and indefeasible
        payment or performance and discharge, as the case may be, of all amounts,
        obligations and liabilities, the payments or performance and discharge of
        which
        are guaranteed by this Guaranty, and no payment hereunder by a Guarantor
        shall
        give rise to any claim of such Guarantor against the Administrative Agent
        and
        the Lenders.

       

      
        
          
          

        

        
          C-5

          
            

          

        

        
          
          

        

      

       

      (c)       
        Notwithstanding
        anything to the contrary contained in this Section 10, no Guarantor shall
        be
        subrogated to the rights of the Administrative Agent and the Lenders against
        the
        Company until all of the Obligations of the Company have been paid finally
        and
        indefeasibly in full, and that subrogation shall be suspended upon the
        occurrence of the events described in Section 1(d) hereof until the
        Administrative Agent and the Lenders are indefeasibly paid in full.

      

      11.           Survival
        of Representations, Warranties, etc.

      

      All
        representations, warranties, covenants and agreements made herein, including
        representations and warranties deemed made herein, shall survive any
        investigation or inspection made by or on behalf of the Administrative Agent
        and
        the Lenders and shall continue in full force and effect until all of the
        obligations of the Guarantors under this Guaranty shall be fully performed
        in
        accordance with the terms hereof, and until the payment in full of the
        Guaranteed Obligations.

      

      12.          
        GOVERNING
        LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL.
        THIS GUARANTY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS
        OF
        THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICT OR
        CHOICE
        OF LAW. EACH GUARANTOR HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF
        ANY
        FEDERAL OR STATE COURT IN THE STATE OF NEW YORK, COUNTY OF NEW YORK, COUNTY
        OF
        NASSAU OR COUNTY OF SUFFOLK IN ANY ACTION, SUIT OR PROCEEDING BROUGHT AGAINST
        IT
        AND RELATED TO OR IN CONNECTION WITH THIS GUARANTY OR THE TRANSACTIONS
        CONTEMPLATED HEREBY, AND TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH
        GUARANTOR 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 FEDERAL OR STATE 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 GUARANTY OR ANY
        DOCUMENT OR ANY INSTRUMENT REFERRED TO HEREIN OR THE SUBJECT MATTER THEREOF
        MAY
        NOT BE LITIGATED IN OR BY SUCH COURTS. TO THE EXTENT PERMITTED BY APPLICABLE
        LAW, EACH GUARANTOR AGREES (I) NOT TO SEEK AND HEREBY WAIVES THE RIGHT TO
        ANY
        REVIEW OF THE JUDGMENT OF ANY SUCH COURT BY ANY COURT OF ANY OTHER NATION
        OR
        JURISDICTION WHICH MAY BE CALLED UPON TO GRANT AN ENFORCEMENT OF SUCH JUDGMENT
        AND (II) NOT TO ASSERT ANY COUNTERCLAIM IN ANY SUCH SUIT, ACTION OR PROCEEDING
        UNLESS SUCH COUNTERCLAIM IS A MANDATORY OR COMPULSORY COUNTERCLAIM UNDER
        FEDERAL
        LAW OR NEW YORK STATE LAW, AS APPLICABLE. EACH GUARANTOR AGREES THAT SERVICE
        OF
        PROCESS MAY BE MADE UPON IT BY CERTIFIED OR REGISTERED MAIL TO THE ADDRESS
        FOR
        NOTICES SET FORTH IN THIS GUARANTY OR ANY METHOD AUTHORIZED BY THE LAWS OF
        NEW
        YORK. THE ADMINISTRATIVE AGENT, THE LENDERS AND EACH GUARANTOR IRREVOCABLY
        WAIVE
        ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING
        OUT
        OF OR RELATING TO THIS GUARANTY, THE LOAN DOCUMENTS OR THE TRANSACTIONS
        CONTEMPLATED HEREBY OR THEREBY.

      

      13.          
        Miscellaneous.

      

      (a)       
        All
        capitalized terms used herein and not defined herein shall have the meanings
        specified in the Credit Agreement. 

      

      
        
          
          

        

        
          C-6

          
            

          

        

        
          
          

        

         

      

      (b)       
        This
        Guaranty is the joint and several obligation of each Guarantor, and may be
        enforced against each Guarantor separately, whether or not enforcement of
        any
        right or remedy hereunder has been sought against any other Guarantor, by
        the
        Administrative Agent on behalf of the Lenders. Each Guarantor acknowledges
        that
        its obligations hereunder will not be released or affected by the failure
        of the
        other Guarantors to execute the Guaranty or by a determination that all or
        a
        part of this Guaranty with respect to any other Guarantor is invalid or
        unenforceable.

      

      (c)       
        If
        any
        term of this Guaranty or any application thereof shall be invalid or
        unenforceable, the remainder of this Guaranty and any other application of
        such
        term shall not be affected thereby. 

      

      (d)      
        Anything
        contained in this Guaranty to the contrary notwithstanding, the obligations
        of
        each Guarantor hereunder shall be limited to a maximum aggregate amount equal
        to
        the greatest amount that would not render such Guarantor’s obligations hereunder
        subject to avoidance as a fraudulent transfer or conveyance under Section
        548 of
        Title 111 of the United States Code or any provisions of applicable state
        law
        (collectively, the "Fraudulent Transfer Laws"), in each case after giving
        effect
        to all other liabilities of such Guarantor, contingent or otherwise, that
        are
        relevant under the Fraudulent Transfer Laws (specifically excluding, however,
        any liabilities of such Guarantor (a) in respect of intercompany indebtedness
        to
        the Company or an Affiliate of the Company to the extent that such indebtedness
        would be discharged in an amount equal to the amount paid by such Guarantor
        hereunder and (b) under any guaranty of senior unsecured indebtedness or
        Indebtedness subordinated in right of payment to the Obligations which guaranty
        contains a limitation as to maximum amount similar to that set forth in this
        paragraph, pursuant to which the liability of such Guarantor hereunder is
        included in the liabilities taken into account in determining such maximum
        amount) and after giving effect as assets to the value (as determined under
        the
        applicable provisions of the Fraudulent Transfer Laws) of any rights to
        subrogation, contribution, reimbursement or similar rights of such Guarantor
        pursuant to (i) applicable law or (ii) any agreement providing for an equitable
        allocation among such Guarantor and of Affiliates of the Company of obligations
        arising under guaranties by such parties.

      

      (e)       
        Any
        term
        of this Guaranty may be amended, waived, discharged or terminated only by
        a
        written agreement executed by each Guarantor and by the Administrative Agent
        (acting with the consent of the Required Lenders). 

      

      (f)       
        The
        headings in this Guaranty are for purposes of reference only and shall not
        limit
        or define the meaning hereof. 

      

      (g)      
        No
        delay
        or omission by the Administrative Agent or a Lender in the exercise of any
        right
        under this Guaranty shall impair any such right, nor shall it be construed
        to be
        waiver thereof; nor shall any single or partial exercise of any right hereunder
        preclude any other or further exercise of any other right. 

      

      [next
        page
        is signature page]

       

       

      
        
          
          

        

        
          C-7

          
            

          

        

        
          
          

        

      

      

      IN
        WITNESS WHEREOF,
        the
        undersigned have caused this Guaranty to be executed and delivered as of
        the day
        and year first above written.

       

      
        
          	
                	GETTY
                  PROPERTIES CORP. 
	 	LEEMILT’S
                  PETROLEUM, INC.
	 	GETTY
                  CT LEASING, INC.
	 	GETTY
                  VA LEASING, INC.
	 	GETTYMART
                  INC. 
	 	GETTY
                  NY LEASING, INC.
	 	GETTY
                  AR LEASING, INC.
	 	GETTY
                  CA LEASING, INC.
	 	GETTY
                  HI LEASING, INC.
	 	GETTY
                  IL LEASING, INC.
	 	GETTY
                  MD LEASING, INC.
	 	GETTY
                  MO LEASING, INC.
	 	GETTY
                  NC LEASING, INC.
	 	GETTY
                  ND LEASING, INC.
	 	GETTY
                  NH LEASING, INC.
	 	GETTY
                  TX LEASING, INC.
	 	POWER
                  TEST REALTY COMPANY LIMITED PARTNERSHIP
	 	By:
                  Getty Properties Corp., its General Partner
	 	 
	 	By:
                  /s/ Andrew M. Smith
	 	Name: 
                  Andrew M. Smith
	 	Title: 
                   President of each of the foregoing
                  entities

        

         

      

       

       

       

      
        
          
          

        

        
          C-8

          
            

          

        

        
          
          

        

      

      

      EXHIBIT
        D-1

      

      REVOLVING
        NOTE

      

       

      
        	
                $______________

              	
                March
                  __, 2007

              

      

      
 

      FOR
        VALUE RECEIVED, GETTY REALTY CORP., a
        Maryland
        corporation (the “Borrower”), promises to pay to the order of [Lender]
        (the
        “Lender”), on or before the Maturity Date, the principal amount of
        ___________________________________________________________________ ($___________) DOLLARS,
        or, if
        less, the unpaid principal amount of all Revolving Loans made by the Lender
        to
        the Borrower under the Credit Agreement referred to below.

      

      The
        Borrower promises to pay interest on the unpaid principal amount hereof from
        the
        date hereof until paid in full at the rates and at the times which shall
        be
        determined, and to make principal repayments on this Note at the times which
        shall be determined, in accordance with the provisions of the Credit Agreement
        referred to below.

      

      This
        Note
        is one of the “Notes” referred to in the Credit Agreement, dated as of march __,
        2007, by and among the Borrower, JPMorgan Chase Bank, N.A., as Administrative
        Agent and the other agents party thereto, and the various Lenders (including
        the
        Lender) as are, or may from time to time become, parties thereto (as the
        same
        may be amended, restated, modified or supplemented from time to time, the
        “Credit Agreement”) and is issued pursuant to and entitled to the benefits of
        the Credit Agreement to which reference is hereby made for a more complete
        statement of the terms and conditions under which the Revolving Loans evidenced
        hereby were made and are to be repaid. Capitalized terms used herein without
        definition shall have the meanings set forth in the Credit
        Agreement.

      

      Each
        of
        the Lender and any subsequent holder of this Note agrees, by its acceptance
        hereof, that before transferring this Note it shall record the date, Type
        and
        amount of each Revolving Loan and the date and amount of each payment or
        prepayment of principal of each Revolving Loan previously made hereunder
        on the
        grid schedule annexed to this Note; provided,
        however,
        that the
        failure of the Lender or holder to set forth such Revolving Loans, payments
        and
        other information on the attached grid schedule shall not in any manner affect
        the obligation of the Borrower to repay the Revolving Loans made by the Lender
        in accordance with the terms of this Note.

      

      This
        Note
        is subject to prepayment pursuant to Section 2.11 of the Credit
        Agreement.

      

      Upon
        the
        occurrence of an Event of Default, the unpaid balance of the principal amount
        of
        this Note together with all accrued but unpaid interest thereon, may become,
        or
        may be declared to be, due and payable in the manner, upon the conditions
        and
        with the effect provided in the Credit Agreement.

      

      All
        payments of principal and interest in respect of this Note shall be made
        in
        lawful money of the United States of America in immediately available funds
        at
        the office of JPMorgan Chase Bank, N.A., as Administrative Agent for the
        Lenders
        under the Credit Agreement, located at 395 North Service Road, Melville,
        New
        York 11747 or at such other place as shall be designated in writing for such
        purpose in accordance with the terms of the Credit Agreement.

      

      No
        reference herein to the Credit Agreement and no provision of this Note or
        the
        Credit Agreement shall alter or impair the obligation of the Borrower, which
        is
        absolute and unconditional, to pay the principal of and interest on this
        Note at
        the place, at the respective times, and in the currency herein
        prescribed.

      

      
        
          
          

        

        
          D-1-1

          
            

          

        

        
          
          

        

         

      

      The
        Borrower and endorsers of this Note waive presentment, diligence, demand,
        protest, and notice of any kind in connection with this Note.

      

      THIS
        NOTE SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE
        WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF
        CONFLICTS OF LAW.

      

      IN
        WITNESS WHEREOF,
        the
        Borrower has caused this Note to be executed and delivered by its duly
        authorized officer, as of the day and year and at the place first above
        written.

       

      
        	 	GETTY
                REALTY CORP.
	 	 
	 	 
	 	By:__________________________
	 	Name:
                
	 	Title:
                

      

       

      
 

       

      
        
          
          

        

        
          D-1-2

          
            

          

        

        
          
          

        

      

       

       

      SCHEDULE 

      
        
          	
                  Date

                	
                  Principal

                	
                  Type

                	 	
                  Applicable

                	
                  Amount
                    of

                	
                  Notation

                
	
                  of

                	
                  Amount
                    of

                	
                  of

                	
                  Interest

                	
                  Interest

                	
                  Principal

                	
                  Made

                
	
                  Loan

                	
                  Loan

                	
                  Loan

                	
                  Rate

                	
                  Period
                    

                	
                  Paid

                	
                  By

                

        

      
        
          
          

        

        
          D-1-3

          
            

          

        

        
          
          

        

      

       

       

      EXHIBIT
        D-2

      

      SWINGLINE
        NOTE

      

       

      
        
          	
                  $5,000,000

                	
                  March
                    __, 2007

                

        

      

      FOR
        VALUE RECEIVED, GETTY REALTY CORP., a
        Maryland
        corporation (the “Borrower”), promises to pay to the order of JPMORGAN
        CHASE BANK, N.A. (the
        “Lender”), on or before the Maturity Date, the principal amount of FIVE
        MILLION ($5,000,000) DOLLARS,
        or, if
        less, the unpaid principal amount of all Swingline Loans made by the Lender
        to
        the Borrower under the Credit Agreement referred to below.

      

      The
        Borrower promises to pay interest on the unpaid principal amount hereof from
        the
        date hereof until paid in full at the rates and at the times which shall
        be
        determined, and to make principal repayments on this Note at the times which
        shall be determined, in accordance with the provisions of the Credit Agreement
        referred to below.

      

      This
        Note
        is the “Swingline Note” referred to in the Credit Agreement, dated as of March
        __, 2007, by and among the Borrower, JPMorgan Chase Bank, N.A., as
        Administrative Agent and the other agents party thereto, and the various
        Lenders
        (including the Lender) as are, or may from time to time become, parties thereto
        (as the same may be amended, restated, modified or supplemented from time
        to
        time, the “Credit Agreement”) and is issued pursuant to and entitled to the
        benefits of the Credit Agreement to which reference is hereby made for a
        more
        complete statement of the terms and conditions under which the Swingline
        Loans
        evidenced hereby were made and are to be repaid. Capitalized terms used herein
        without definition shall have the meanings set forth in the Credit
        Agreement.

      

      Each
        of
        the Lender and any subsequent holder of this Note agrees, by its acceptance
        hereof, that before transferring this Note it shall record the date, Type
        and
        amount of each Swingline Loan and the date and amount of each payment or
        prepayment of principal of each Swingline Loan previously made hereunder
        on the
        grid schedule annexed to this Note; provided,
        however,
        that the
        failure of the Lender or holder to set forth such Swingline Loans, payments
        and
        other information on the attached grid schedule shall not in any manner affect
        the obligation of the Borrower to repay the Swingline Loans made by the Lender
        in accordance with the terms of this Note.

      

      This
        Note
        is subject to prepayment pursuant to Section 2.11 of the Credit
        Agreement.

      

      Upon
        the
        occurrence of an Event of Default, the unpaid balance of the principal amount
        of
        this Note together with all accrued but unpaid interest thereon, may become,
        or
        may be declared to be, due and payable in the manner, upon the conditions
        and
        with the effect provided in the Credit Agreement.

      

      All
        payments of principal and interest in respect of this Note shall be made
        in
        lawful money of the United States of America in immediately available funds
        at
        the office of JPMorgan Chase Bank, N.A., located at 395 North Service Road,
        Melville, New York 11747 or at such other place as shall be designated in
        writing for such purpose in accordance with the terms of the Credit
        Agreement.

      

      No
        reference herein to the Credit Agreement and no provision of this Note or
        the
        Credit Agreement shall alter or impair the obligation of the Borrower, which
        is
        absolute and unconditional, to pay the principal of and interest on this
        Note at
        the place, at the respective times, and in the currency herein
        prescribed.

       

       

      
        
          
          

        

        
          D-2-1

          
            

          

        

        
          
          

        

         

      

      The
        Borrower and endorsers of this Note waive presentment, diligence, demand,
        protest, and notice of any kind in connection with this Note.

      

      THIS
        NOTE SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE
        WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF
        CONFLICTS OF LAW.

      

      IN
        WITNESS WHEREOF,
        the
        Borrower has caused this Note to be executed and delivered by its duly
        authorized officer, as of the day and year and at the place first above
        written.

       

      
        
          	 	GETTY
                  REALTY CORP.
	 	 
	 	 
	 	By:__________________________
	 	Name:
                  
	 	Title:
                  

        

       

       

      
        
          
          

        

        
          D-2-2

          
            

          

        

        
          
          

        

      

       

       

      SCHEDULE 

      

      
        
          
            	
                    Date

                  	
                    Principal

                  	
                    Type

                  	 	
                    Applicable

                  	
                    Amount
                      of

                  	
                    Notation

                  
	
                    of

                  	
                    Amount
                      of

                  	
                    of

                  	
                    Interest

                  	
                    Interest

                  	
                    Principal

                  	
                    Made

                  
	
                    Loan

                  	
                    Loan

                  	
                    Loan

                  	
                    Rate

                  	
                    Period
                      

                  	
                    Paid

                  	
                    By

                  

          

        

      

       

      

 

      
        
          
          

        

        
          D-2-3

          
            

          

        

        
          
          

        

      

      
 

      EXHIBIT
        E

      

       NOTICE
        OF BORROWING

      

      ________
        __, 200_

      

      

      JPMorgan
        Chase Bank, N.A., 

      as
        Administrative Agent

      

      

      

      Gentlemen:

      

      Pursuant
        to the Credit Agreement dated as of March __, 2007 (as the same may have
        been
        and may hereafter be amended, modified or supplemented the "Credit Agreement")
        by and among Getty Realty Corp. (the “Borrower”), JPMorgan Chase Bank, N.A., as
        Administrative Agent and
        the
        other agents party thereto, and
        the
        various Lenders as are a party thereto,
        we
        hereby
        give you irrevocable notice that we request a Revolving Loan as
        follows:

      

      1.        
        Amount
        of
        Revolving
        Loan:                
$_______________

      2.        
        Borrowing
        Date:                                   
________________

      3.        
        Type
        of
        Loan:                                     
[ABR
        Loan]
        [Eurodollar Loan]

      4.        
        Interest
        Period:                                    
[if
        applicable: 1,2,3,6 months or two-weeks] 

      

      We
        hereby
        certify that (i) the representations and warranties contained in the Credit
        Agreement and the other Loan Documents are true, correct and complete on
        and as
        of the date hereof to the same extent as though made on and as of the date
        hereof; (ii) no Default or Event of Default has occurred and is continuing
        under
        the Credit Agreement or will result after giving effect to the Loan requested
        hereunder; (iii) the Borrower has performed all agreements and satisfied
        all
        conditions under the Credit Agreement required to be performed by it on or
        before the date hereof; and (iv) after giving effect to the requested Revolving
        Loan, the
        sum of
        the total Revolving Credit Exposures shall not exceed the total
        Commitments.

      

      Capitalized
        terms used herein but not defined shall have the respective meanings given
        to
        them in the Credit Agreement.

      

      IN
        WITNESS WHEREOF,
        the
        Borrower has caused this document to be executed and delivered by its Executive
        Officer as of the date written above.

       

      
        
          	 	GETTY
                  REALTY CORP.
	 	 
	 	 
	 	By:__________________________
	 	Name:
                  
	 	Title:
                  

        

       

       

      
        
          
          

        

        
          E-1

          
            

          

        

        
          
          

        

      

       

      Schedule
        1.01

      

        
          	
                  Location

                	 	 	 	
                  Zip

                
	
                  Number

                	
                  Address

                	
                  Town

                	
                  ST.

                	
                  Code

                
	
                  6811

                	
                  774
                    FARMINGTON AVE

                	
                  BRISTOL

                	
                  CT

                	
                  06010

                
	
                  6151

                	
                  105
                    WEST STREET

                	
                  BRISTOL

                	
                  CT

                	
                  06010

                
	
                  6155

                	
                  368
                    WEST HIGH STREET

                	
                  COBALT

                	
                  CT

                	
                  06424

                
	
                  6872

                	
                  339
                    OLD HARTFORD ROAD

                	
                  COLCHESTER

                	
                  CT

                	
                  06415

                
	
                  583

                	
                  RTES.
                    44A&I-31

                	
                  COVENTRY

                	
                  CT

                	
                  06238

                
	
                  6851

                	
                  241
                    WHITE STREET

                	
                  DANBURY

                	
                  CT

                	
                  06810

                
	
                  6156

                	
                  384
                    MAIN STREET

                	
                  DURHAM

                	
                  CT

                	
                  06422

                
	
                  6853

                	
                  126
                    SOUTH ROAD

                	
                  ENFIELD

                	
                  CT

                	
                  06082

                
	
                  6158

                	
                  56
                    ENFIELD STREET

                	
                  ENFIELD

                	
                  CT

                	
                  06082

                
	
                  6766

                	
                  3050
                    WHITNEY AVE

                	
                  HAMDEN

                	
                  CT

                	
                  06514

                
	
                  6856

                	
                  1707
                    STANLEY STREET

                	
                  NEW
                    BRITAIN

                	
                  CT

                	
                  06053

                
	
                  6870

                	
                  1500
                    CORBIN AVENUE

                	
                  NEW
                    BRITAIN

                	
                  CT

                	
                  06053

                
	
                  595

                	
                  222
                    DANBURY RD

                	
                  NEW
                    MILFORD

                	
                  CT

                	
                  06776

                
	
                  6774

                	
                  419
                    WASHINGTON AVE

                	
                  NORTH
                    HAVEN

                	
                  CT

                	
                  06473

                
	
                  596

                	
                  195
                    STATE STREET

                	
                  NORTH
                    HAVEN

                	
                  CT

                	
                  06473

                
	
                  6819

                	
                  206
                    MAIN AVE.

                	
                  NORWALK

                	
                  CT

                	
                  06851

                
	
                  365

                	
                  1324
                    EAST PUTNAM AVE

                	
                  OLD
                    GREENWICH

                	
                  CT

                	
                  06870

                
	
                  688

                	
                  301
                    EAST & WHITING STS

                	
                  PLAINVILLE

                	
                  CT

                	
                  06062

                
	
                  6817

                	
                  1294
                    E. MAIN ST.

                	
                  TORRINGTON

                	
                  CT

                	
                  06790

                
	
                  6172

                	
                  506
                    TALCOTVILLE ROAD

                	
                  VERNON

                	
                  CT

                	
                  06066

                
	
                  611

                	
                  ROUTE
                    32

                	
                  WATERFORD

                	
                  CT

                	
                  06385

                
	
                  6181

                	
                  1309
                    BOSTON POST ROAD

                	
                  WESTBROOK

                	
                  CT

                	
                  06498

                
	
                  613

                	
                  1830
                    E. STATE STREET

                	
                  WESTPORT

                	
                  CT

                	
                  06880

                
	
                  6179

                	
                  930
                    SILAS DEANE HIGHWAY

                	
                  WETHERSFIELD

                	
                  CT

                	
                  06109

                
	
                  6183

                	
                  1916
                    POQUONNOCK AVE.

                	
                  WINDSOR

                	
                  CT

                	
                  06095

                
	
                  6184

                	
                  245
                    ELLA GRASSO HIGHWAY

                	
                  WINDSOR
                    LOCKS

                	
                  CT

                	
                  06096

                
	
                  687

                	
                  47
                    WOLCOTT RD.

                	
                  WOLCOTT

                	
                  CT

                	
                  06716

                
	
                  6850

                	
                  210
                    SOUTH STREET

                	
                  W.
                    HARTFORD

                	
                  CT

                	
                  06110

                
	
                  8635

                	
                  BASIN
                    ROAD & FRENCHTOWN TPKE.

                	
                  NEW
                    CASTLE

                	
                  DE

                	
                  19720

                
	
                  617

                	
                  18
                    SPRINGFIELD STREET

                	
                  AGAWAM

                	
                  MA

                	
                  01001

                
	
                  619

                	
                  824
                    SUFFIELD ST. & SILVER

                	
                  AGAWAM

                	
                  MA

                	
                  01001

                
	
                  30716

                	
                  308
                    THACHER STREET

                	
                  ATTLEBORO

                	
                  MA

                	
                  02703

                
	
                  30711

                	
                  321
                    SOUTHBRIDGE STREET

                	
                  AUBURN

                	
                  MA

                	
                  01501

                
	
                  30515

                	
                  331
                    BENNINGTON ST

                	
                  BOSTON

                	
                  MA

                	
                  02128

                
	
                  30361

                	
                  191
                    TALBOT AVE

                	
                  DORCHESTER

                	
                  MA

                	
                  02124

                
	
                  30648

                	
                  321
                    ADAMS STREET

                	
                  DORCHESTER

                	
                  MA

                	
                  02121

                
	
                  30601

                	
                  701
                    COCHITUATE ROAD

                	
                  FRAMINGHAM

                	
                  MA

                	
                  01701

                
	
                  30518

                	
                  299
                    MAIN ST.

                	
                  GROVELAND

                	
                  MA

                	
                  01830

                
	
                  30713

                	
                  274
                    HIGH STREET

                	
                  LOWELL

                	
                  MA

                	
                  01852

                
	
                  30647

                	
                  151
                    MAIN STREET

                	
                  MEDFORD

                	
                  MA

                	
                  02115

                
	
                  30702

                	
                  CAPE
                    ROAD (RT. 140) & WATER ST

                	
                  MILFORD

                	
                  MA

                	
                  01757

                
	
                  30161

                	
                  61
                    MAIN STREET

                	
                  MILFORD

                	
                  MA

                	
                  01757

                
	
                  30714

                	
                  219
                    LAFAYETTE ROAD

                	
                  SALISBURY

                	
                  MA

                	
                  01960

                
	
                  30537

                	
                  1258
                    WILBUR AVE

                	
                  SOMERSET

                	
                  MA

                	
                  02725

                
	
                  30674

                	
                  176
                    WORCESTER RD.

                	
                  SOUTHBRIDGE

                	
                  MA

                	
                  01550

                
	
                  30646

                	
                  825
                    WASHINGTON STREET

                	
                  STOUGHTON

                	
                  MA

                	
                  02072

                
	
                  30649

                	
                  452
                    CANTON STREET

                	
                  STOUGHTON

                	
                  MA

                	
                  02072

                
	
                  30557

                	
                  63
                    BROADWAY

                	
                  TAUNTON

                	
                  MA

                	
                  02780

                
	
                  30439

                	
                  286
                    BROADWAY

                	
                  TAUNTON

                	
                  MA

                	
                  02780

                
	
                  30712

                	
                  156
                    CRESCENT STREET

                	
                  WALTHAM

                	
                  MA

                	
                  02154

                
	
                  30562

                	
                  1
                    OAK HILL ROAD

                	
                  WESTFORD

                	
                  MA

                	
                  01886

                
	
                  30710

                	
                  350
                    GREENWOOD STREET

                	
                  WORCESTER

                	
                  MA

                	
                  01607

                
	
                  30675

                	
                  959
                    SOUTHBRIDGE STREET

                	
                  WORCESTER

                	
                  MA

                	
                  01610

                
	
                  29812

                	
                  409
                    WEST BEL AIR AVE.

                	
                  ABERDEEN

                	
                  MD

                	
                  21001

                
	
                  28230

                	
                  53
                    BROAD STREET

                	
                  AUBURN

                	
                  ME

                	
                  04210

                
	
                  28227

                	
                  393
                    WESTERN AVENUE

                	
                  AUGUSTA

                	
                  ME

                	
                  04330

                
	
                  28231

                	
                  210
                    CIVIC CENTER DRIVE

                	
                  AUGUSTA

                	
                  ME

                	
                  04332

                
	
                  28200

                	
                  990
                    LISBON STREET

                	
                  LEWISTON

                	
                  ME

                	
                  04240

                
	
                  55274

                	
                  32
                    BRIDGE STREET

                	
                  PELHAM

                	
                  NH

                	
                  03076

                
	
                  55269

                	
                  9
                    VILLAGE STREET

                	
                  PENACOOK

                	
                  NH

                	
                  03303

                
	
                  55252

                	
                  LAFAYETTE
                    & NEW ZEALAND

                	
                  SEABROOK

                	
                  NH

                	
                  03874

                
	
                  56079

                	
                  1061
                    BROADWAY (53RD ST.)

                	
                  BAYONNE

                	
                  NJ

                	
                  07002

                
	
                  56093

                	
                  713
                    PLAINFIELD AVENUE

                	
                  BERKELEY
                    HGTS

                	
                  NJ

                	
                  07922

                
	
                  56049

                	
                  SPRINGFIELD
                    & PLAINFIELD

                	
                  BERKELEY
                    HGTS

                	
                  NJ

                	
                  07922

                
	
                  652

                	
                  R.D.#1
                    ROUTE 130

                	
                  BEVERLY

                	
                  NJ

                	
                  08010

                
	
                  56149

                	
                  91
                    BRICK BLVD.

                	
                  BRICK
                    TWP

                	
                  NJ

                	
                  08723

                
	
                  56868

                	
                  526
                    ALLWOOD ROAD (BLOOMFIELD)

                	
                  CLIFTON

                	
                  NJ

                	
                  07012

                
	
                  56275

                	
                  1942
                    LINCOLN HWY

                	
                  EDISON

                	
                  NJ

                	
                  08817

                
	
                  56852

                	
                  134
                    NJ RT. #4 (EAST BOUND

                	
                  ENGLEWOOD

                	
                  NJ

                	
                  07631

                
	
                  56138

                	
                  104
                    SOUTH AVE. (3RD AVE.)

                	
                  FANWOOD

                	
                  NJ

                	
                  07023

                
	
                  56276

                	
                  1490
                    BERGEN BOULEVARD (RT. 46)

                	
                  FORT
                    LEE

                	
                  NJ

                	
                  07024

                
	
                  56145

                	
                  4413
                    U. S. HIGHWAY 9

                	
                  FREEHOLD

                	
                  NJ

                	
                  07728

                
	
                  56924

                	
                  MIDLAND
                    & OUTWATER

                	
                  GARFIELD

                	
                  NJ

                	
                  07026

                
	
                  56195

                	
                  345
                    ROUTE 22 E.

                	
                  GREENBROOK

                	
                  NJ

                	
                  08812

                
	
                  659

                	
                  RTE
                    440 & DANFORTH AVE

                	
                  JERSEY
                    CITY

                	
                  NJ

                	
                  07303

                
	
                  661

                	
                  100
                    WHITE HORSE PIKE

                	
                  LAWNSIDE

                	
                  NJ

                	
                  08045

                
	
                  56867

                	
                  MAIN
                    ST & STATION RD

                	
                  MADISON

                	
                  NJ

                	
                  07940

                
	
                  319

                	
                  120
                    MOFFATT ROAD

                	
                  MAHWAH

                	
                  NJ

                	
                  07430

                
	
                  56271

                	
                  RT
                    516 & HIGGINS ROAD

                	
                  MATAWAN
                    (OLD BRIDGE)

                	
                  NJ

                	
                  07747

                
	
                  56169

                	
                  128
                    CHESTNUT RIDGE RD & LAKE

                	
                  MONTVALE

                	
                  NJ

                	
                  07645

                
	
                  56251

                	
                  1371
                    ROUTE 202 NORTH

                	
                  NESHANIC
                    STATION

                	
                  NJ

                	
                  08853

                
	
                  56909

                	
                  RIVER
                    RD. & MADISON AVE.

                	
                  NEW
                    MILFORD

                	
                  NJ

                	
                  07646

                
	
                  254

                	
                  1700
                    GEORGES RD. RT 130

                	
                  NORTH
                    BRUNSWICK

                	
                  NJ

                	
                  08902

                
	
                  56039

                	
                  278
                    BLOOMFIELD AVENUE

                	
                  NUTLEY

                	
                  NJ

                	
                  07110

                
	
                  56047

                	
                  661
                    BLOOMFIELD AVE

                	
                  NUTLEY

                	
                  NJ

                	
                  07110

                
	
                  56057

                	
                  RT.
                    35 & SUNSET AVE.

                	
                  OCEAN
                    TOWNSHIP

                	
                  NJ

                	
                  07712

                
	
                  667

                	
                  639
                    RTE 17 SOUTH

                	
                  PARAMUS

                	
                  NJ

                	
                  07652

                
	
                  56112

                	
                  745
                    CONVERY BLVD

                	
                  PERTH
                    AMBOY

                	
                  NJ

                	
                  08861

                
	
                  673

                	
                  6718
                    BLACK HORSE PIKE

                	
                  PLEASANTVILLE

                	
                  NJ

                	
                  08232

                
	
                  56255

                	
                  2501
                    BRIDGE AVE.

                	
                  PT.
                    PLEASANT

                	
                  NJ

                	
                  08742

                
	
                  56809

                	
                  762
                    ST GEORGES AVE

                	
                  RAHWAY

                	
                  NJ

                	
                  07065

                
	
                  654

                	
                  669
                    SOMERSET STREET

                	
                  SOMERSET

                	
                  NJ

                	
                  08873

                
	
                  56821

                	
                  252
                    IRVINGTON AVE.

                	
                  SOUTH
                    ORANGE

                	
                  NJ

                	
                  07079

                
	
                  56254

                	
                  2222
                    PARK AVE

                	
                  S.
                    PLAINFIELD

                	
                  NJ

                	
                  07080

                
	
                  56055

                	
                  738
                    CEDAR LANE

                	
                  TEANECK

                	
                  NJ

                	
                  07666

                
	
                  671

                	
                  2401
                    RT 22 WEST

                	
                  UNION

                	
                  NJ

                	
                  07083

                
	
                  56096

                	
                  SPRINGSIDE
                    & WOODLANE RDS.

                	
                  WESTAMPTON
                    TWP

                	
                  NJ

                	
                  08060

                
	
                  56280

                	
                  320
                    OLD HOOK RD AND CARVER AVE

                	
                  WESTWOOD

                	
                  NJ

                	
                  07675

                
	
                  58092

                	
                  657
                    SAWMILL RIVER RD

                	
                  ARDSLEY

                	
                  NY

                	
                  10502

                
	
                  58044

                	
                  SUNRISE
                    HIGHWAY & HARRISON

                	
                  BALDWIN

                	
                  NY

                	
                  11510

                
	
                  58790

                	
                  330
                    RT 304 N

                	
                  BARDONIA

                	
                  NY

                	
                  10954

                
	
                  58917

                	
                  336
                    WEST WASHINGTON STREET

                	
                  BATH

                	
                  NY

                	
                  14810

                
	
                  54

                	
                  172
                    HOWELLS RD

                	
                  BAYSHORE

                	
                  NY

                	
                  11706

                
	
                  115

                	
                  3400-08
                    BAYCHESTER AVE

                	
                  BRONX

                	
                  NY

                	
                  10475

                
	
                  114

                	
                  2453
                    WESTCHESTER AVE

                	
                  BRONX

                	
                  NY

                	
                  10461

                
	
                  323

                	
                  3083
                    WEBSTER AVE

                	
                  BRONX

                	
                  NY

                	
                  10467

                
	
                  549

                	
                  1220
                    EAST 233RD STREET

                	
                  BRONX

                	
                  NY

                	
                  10466

                
	
                  152

                	
                  3337
                    BOSTON ROAD

                	
                  BRONX

                	
                  NY

                	
                  10469

                
	
                  58616

                	
                  1895
                    BRUCKNER BOULEVARD

                	
                  BRONX

                	
                  NY

                	
                  10472

                
	
                  126

                	
                  4302
                    FT HAMILTON PWY

                	
                  BROOKLYN

                	
                  NY

                	
                  11219

                
	
                  58015

                	
                  8202
                    7TH AVENUE

                	
                  BROOKLYN

                	
                  NY

                	
                  11228

                
	
                  128

                	
                  2504
                    HARWAY AVE

                	
                  BROOKLYN

                	
                  NY

                	
                  11214

                
	
                  58918

                	
                  3211
                    COUNTY ROAD # 10

                	
                  CANANDAIGUA

                	
                  NY

                	
                  14424

                
	
                  363

                	
                  350
                    ROCKAWAY TPKE

                	
                  CEDARHURST

                	
                  NY

                	
                  11516

                
	
                  58064

                	
                  1880
                    FRONT STREET

                	
                  EAST
                    MEADOW

                	
                  NY

                	
                  11554

                
	
                  58818

                	
                  311
                    LARKFIELD ROAD

                	
                  EAST
                    NORTHPORT

                	
                  NY

                	
                  11731

                
	
                  116

                	
                  128
                    EAST MAIN ST

                	
                  ELMSFORD

                	
                  NY

                	
                  10523

                
	
                  58557

                	
                  76-19
                    21ST AVE.

                	
                  E.
                    ELMHURST

                	
                  NY

                	
                  11370

                
	
                  58024

                	
                  80
                    HORACE HARDING BLVD.

                	
                  GREAT
                    NECK

                	
                  NY

                	
                  11020

                
	
                  58054

                	
                  490
                    PULASKI ROAD

                	
                  GREENLAWN

                	
                  NY

                	
                  11740

                
	
                  79

                	
                  25
                    HARTSDALE AVE

                	
                  HARTSDALE

                	
                  NY

                	
                  10530

                
	
                  572

                	
                  476
                    COMMERCE & RTE 141

                	
                  HAWTHORNE

                	
                  NY

                	
                  10532

                
	
                  58603

                	
                  1784
                    BROADWAY

                	
                  HEWLETT

                	
                  NY

                	
                  11557

                
	
                  548

                	
                  395
                    NO.NEWBRIDGE ROAD

                	
                  HICKSVILLE

                	
                  NY

                	
                  11801

                
	
                  177

                	
                  3443
                    RT. 9W

                	
                  HIGHLAND

                	
                  NY

                	
                  12528

                
	
                  58786

                	
                  RT
                    22

                	
                  HOOSICK
                    FALLS

                	
                  NY

                	
                  12090

                
	
                  58181

                	
                  734
                    PARK AVENUE

                	
                  HUNTINGTON

                	
                  NY

                	
                  11743

                
	
                  58081

                	
                  65
                    EAST PULASKI RD

                	
                  HUNTINGTON
                    STATION

                	
                  NY

                	
                  11746

                
	
                  58757

                	
                  125
                    JERICHO TPKE ***(SUITE 103)***

                	
                  JERICHO

                	
                  NY

                	
                  11753

                
	
                  58876

                	
                  125
                    JERICHO TPKE ***(SUITE 202)***

                	
                  JERICHO

                	
                  NY

                	
                  11753

                
	
                  58756

                	
                  224-270
                    EAST STRAND

                	
                  KINGSTON

                	
                  NY

                	
                  12401

                
	
                  58758

                	
                  181-207
                    EAST STRAND

                	
                  KINGSTON

                	
                  NY

                	
                  12401

                
	
                  58776

                	
                  1146
                    ULSTER AVENUE

                	
                  KINGSTON

                	
                  NY

                	
                  12401

                
	
                  58755

                	
                  224-276
                    EAST STRAND

                	
                  KINGSTON

                	
                  NY

                	
                  12401

                
	
                  366

                	
                  440
                    HAWKINS AVE

                	
                  LAKE
                    RONKONKOMA

                	
                  NY

                	
                  11779

                
	
                  117

                	
                  946
                    BOSTON POST RD.

                	
                  MAMARONECK

                	
                  NY

                	
                  10543

                
	
                  58602

                	
                  540
                    PLANDOME RD.

                	
                  MANHASSET

                	
                  NY

                	
                  11030

                
	
                  58744

                	
                  ROUTE
                    146

                	
                  MECHANICVILLE

                	
                  NY

                	
                  12118

                
	
                  58750

                	
                  60
                    N
                    CENTRAL AVE

                	
                  MECHANICVILLE

                	
                  NY

                	
                  12118

                
	
                  58548

                	
                  RT
                    6
                    & LEXINGTON AV

                	
                  MOHEGAN
                    LAKE

                	
                  NY

                	
                  10547

                
	
                  58774

                	
                  165
                    RT 59

                	
                  MONSEY

                	
                  NY

                	
                  10952

                
	
                  58263

                	
                  280
                    E. MAIN ST

                	
                  MT.
                    KISCO

                	
                  NY

                	
                  10549

                
	
                  58121

                	
                  67
                    QUAKER RIDGE RD.

                	
                  NEW
                    ROCHELLE

                	
                  NY

                	
                  10804

                
	
                  77

                	
                  758
                    PELHAM RD

                	
                  NEW
                    ROCHELLE

                	
                  NY

                	
                  10805

                
	
                  58409

                	
                  119
                    WEST 145TH ST

                	
                  NEW
                    YORK

                	
                  NY

                	
                  10039

                
	
                  58205

                	
                  63
                    8TH AVE.

                	
                  NEW
                    YORK

                	
                  NY

                	
                  10014

                
	
                  58592

                	
                  242
                    DYCKMAN STREET

                	
                  NEW
                    YORK

                	
                  NY

                	
                  10034

                
	
                  571

                	
                  660
                    N.BROADWAY, RTE. 22

                	
                  NORTH
                    WHITE PLAINS

                	
                  NY

                	
                  10600

                
	
                  357

                	
                  450
                    WYANDANCH AVE

                	
                  N.
                    BABYLON

                	
                  NY

                	
                  11703

                
	
                  579

                	
                  185
                    NORTH HIGHLAND AVE

                	
                  OSSINING

                	
                  NY

                	
                  10562

                
	
                  58526

                	
                  C
                    

                	
                  OZONE
                    PARK

                	
                  NY

                	
                  11420

                
	
                  16

                	
                  98-21
                    ROCKAWAY BLVD

                	
                  OZONE
                    PARK

                	
                  NY

                	
                  11417

                
	
                  547

                	
                  89-15
                    ROCKAWAY BLVD

                	
                  OZONE
                    PARK

                	
                  NY

                	
                  11417

                
	
                  574

                	
                  3230
                    ROUTE 22

                	
                  PATTERSON

                	
                  NY

                	
                  12563

                
	
                  358

                	
                  185
                    EAST LINCOLN AVE

                	
                  PELHAM

                	
                  NY

                	
                  10803

                
	
                  58802

                	
                  111
                    MAIN STREET

                	
                  PINE
                    BUSH

                	
                  NY

                	
                  12566

                
	
                  573

                	
                  1
                    PLEASANTVILLE ROAD

                	
                  PLEASANTVILLE

                	
                  NY

                	
                  10570

                
	
                  103

                	
                  200
                    WESTCHESTER AVE

                	
                  PORT
                    CHESTER

                	
                  NY

                	
                  10573

                
	
                  58760

                	
                  N.
                    BROADWAY

                	
                  PORT
                    EWEN

                	
                  NY

                	
                  12466

                
	
                  58798

                	
                  252
                    INNIS AVENUE

                	
                  POUGHKEEPSIE

                	
                  NY

                	
                  12603

                
	
                  58812

                	
                  RT
                    9W & RT 143

                	
                  RAVENA

                	
                  NY

                	
                  12143

                
	
                  58806

                	
                  RT
                    9
                    & ST. JOHN STREET

                	
                  RED
                    HOOK

                	
                  NY

                	
                  12571

                
	
                  58759

                	
                  ROUTE
                    9

                	
                  RHINEBECK

                	
                  NY

                	
                  12572

                
	
                  58072

                	
                  ROUTES
                    9 AND 9G

                	
                  RHINEBECK

                	
                  NY

                	
                  12572

                
	
                  58146

                	
                  11
                    FLANDERS RD.

                	
                  RIVERHEAD

                	
                  NY

                	
                  11901

                
	
                  578

                	
                  1
                    BOSTON POST RD

                	
                  RYE

                	
                  NY

                	
                  10580

                
	
                  545

                	
                  SIMMONS
                    PLAZA RT 9W

                	
                  SAUGERTIES

                	
                  NY

                	
                  12477

                
	
                  58703

                	
                  1372
                    UNION ST & BRANDYWINE AVE

                	
                  SCHENECTADY

                	
                  NY

                	
                  12363

                
	
                  704

                	
                  4030
                    MERRICK ROAD

                	
                  SEAFORD

                	
                  NY

                	
                  11783

                
	
                  681

                	
                  1258
                    MIDDLE COUNTRY RD

                	
                  SELDEN

                	
                  NY

                	
                  11784

                
	
                  58574

                	
                  241
                    TERRY ROAD

                	
                  SMITHTOWN

                	
                  NY

                	
                  11787

                
	
                  58796

                	
                  700
                    ROUTE 211

                	
                  SOUTH
                    SALEM

                	
                  NY

                	
                  10590

                
	
                  350

                	
                  69
                    PASCACK ROAD

                	
                  SPRING
                    VALLEY

                	
                  NY

                	
                  10977

                
	
                  235

                	
                  1820
                    RICHMOND ROAD

                	
                  STATEN
                    ISLAND

                	
                  NY

                	
                  10306

                
	
                  396

                	
                  1842
                    VICTORY BLVD

                	
                  STATEN
                    ISLAND

                	
                  NY

                	
                  10314

                
	
                  58553

                	
                  5931
                    AMBOY ROAD (BETHUNE)

                	
                  STATEN
                    ISLAND

                	
                  NY

                	
                  10309

                
	
                  561

                	
                  387
                    RICHMOND AVE

                	
                  STATEN
                    ISLAND

                	
                  NY

                	
                  10302

                
	
                  58042

                	
                  308
                    COLUMBUS AVE

                	
                  TUCKAHOE

                	
                  NY

                	
                  10707

                
	
                  58568

                	
                  360
                    CENTRAL AVE. (CLAREND

                	
                  VALLEY
                    STREAM

                	
                  NY

                	
                  11580

                
	
                  544

                	
                  190
                    AQUEDUCT ROAD

                	
                  WHITE
                    PLAINS

                	
                  NY

                	
                  10606

                
	
                  570

                	
                  69
                    BANK STREET

                	
                  WHITE
                    PLAINS

                	
                  NY

                	
                  10606

                
	
                  74

                	
                  43
                    LAKE STREET

                	
                  WHITE
                    PLAINS

                	
                  NY

                	
                  10600

                
	
                  58025

                	
                  1169
                    KNOLLWOOD ROAD

                	
                  WHITE
                    PLAINS

                	
                  NY

                	
                  10603

                
	
                  546

                	
                  56-02
                    BROADWAY

                	
                  WOODSIDE

                	
                  NY

                	
                  11377

                
	
                  58817

                	
                  449
                    MAIN STREET

                	
                  YAPHANK

                	
                  NY

                	
                  11980

                
	
                  78

                	
                  1800
                    CENTRAL AVE

                	
                  YONKERS

                	
                  NY

                	
                  10700

                
	
                  58101

                	
                  774
                    TUCKAHOE RD.

                	
                  YONKERS

                	
                  NY

                	
                  10710

                
	
                  121

                	
                  1115
                    YONKERS AVE

                	
                  YONKERS

                	
                  NY

                	
                  10704

                
	
                  576

                	
                  313
                    TUCKAHOE ROAD

                	
                  YONKERS

                	
                  NY

                	
                  10700

                
	
                  577

                	
                  719
                    BRONX RIVER RD

                	
                  YONKERS

                	
                  NY

                	
                  10700

                
	
                  69415

                	
                  505
                    BROADWAY

                	
                  BETHLEHEM

                	
                  PA

                	
                  18015

                
	
                  67649

                	
                  HANOVER
                    & S. MAIN STREET

                	
                  BIGLERVILLE

                	
                  PA

                	
                  17307

                
	
                  69685

                	
                  1070
                    TRINDLE ROAD

                	
                  CARLISLE

                	
                  PA

                	
                  17013

                
	
                  67432

                	
                  ROUTE
                    #309 & FAIRMOUNT ST

                	
                  COOPERSBURG

                	
                  PA

                	
                  18036

                
	
                  69409

                	
                  13TH
                    & NORTHAMPTON STREETS

                	
                  EASTON

                	
                  PA

                	
                  18042

                
	
                  751

                	
                  630
                    LINCOLN HWY RT 1

                	
                  FAIRLESS
                    HILLS

                	
                  PA

                	
                  19030

                
	
                  67416

                	
                  3796
                    OXFORD VALLEY RD

                	
                  LEVITTOWN

                	
                  PA

                	
                  19057

                
	
                  67602

                	
                  RT
                    3
                    & BISHOP HOLLOW RD

                	
                  NEWTOWN
                    SQUARE

                	
                  PA

                	
                  19073

                
	
                  67601

                	
                  2711
                    LIMEKILN PIKE

                	
                  NORTH
                    HILLS

                	
                  PA

                	
                  19038

                
	
                  67607

                	
                  7002
                    WOODLAND AVENUE

                	
                  PHILADELPHIA

                	
                  PA

                	
                  19142

                
	
                  67610

                	
                  5302-04
                    RISING SUN AVENUE

                	
                  PHILADELPHIA

                	
                  PA

                	
                  19120

                
	
                  69444

                	
                  1000
                    CHESTNUT STREET

                	
                  READING

                	
                  PA

                	
                  19602

                
	
                  69441

                	
                  451
                    E. PHILADELPHIA STREET

                	
                  YORK

                	
                  PA

                	
                  17403

                
	
                  68642

                	
                  3381
                    E. MAIN RD.

                	
                  PORTSMOUTH

                	
                  RI

                	
                  02871

                
	
                  68644

                	
                  1837
                    MAIN ROAD (RT.#77)

                	
                  TIVERTON

                	
                  RI

                	
                  02878

                
	
                  68005

                	
                  1188
                    CUMBERLAND HILL ROAD

                	
                  WOONSOCKET

                	
                  RI

                	
                  02895

                
	
                  71004

                	
                  1704
                    SO. MAIN STREET

                	
                  BLACKSBURG

                	
                  VA

                	
                  24060

                
	
                  71177

                	
                  RT
                    1, BOX 202

                	
                  DALEVILLE

                	
                  VA

                	
                  24083

                
	
                  71262

                	
                  1306
                    NORTH KING ST.

                	
                  HAMPTON

                	
                  VA

                	
                  23669

                
	
                  71173

                	
                  7000
                    THREE CHOPT RD

                	
                  RICHMOND

                	
                  VA

                	
                  23226

                
	
                  71120

                	
                  3542
                    ORANGE AVENUE, NE

                	
                  ROANOKE

                	
                  VA

                	
                  24012

                
	
                  71109

                	
                  1115
                    MAIN STREET

                	
                  ROANOKE

                	
                  VA

                	
                  24015

                
	
                  71032

                	
                  2214
                    ELECTRIC RD., SW

                	
                  ROANOKE

                	
                  VA

                	
                  24018

                
	
                  71704

                	
                  5420
                    PETERS CREEK RD.

                	
                  ROANOKE

                	
                  VA

                	
                  24019

                
	
                  71110

                	
                  THOMPSON
                    MEMERIAL BLVD.& CLAY

                	
                  SALEM

                	
                  VA

                	
                  24153

                
	
                  71264

                	
                  209
                    E. HOLLY AVENUE

                	
                  STERLING
                    PARK

                	
                  VA

                	
                  22170

                
	
                  71212

                	
                  3901
                    GRAHAM PARK ROAD

                	
                  TRIANGLE

                	
                  VA

                	
                  22026

                
	
                  71216

                	
                  1901
                    S. INDEPENDENCE BLVD.

                	
                  VIRGINIA
                    BEACH

                	
                  VA

                	
                  23456

                
	
                  71251

                	
                  1099
                    INDEPENDENCE BLVD.

                	
                  VIRGINIA
                    BEACH

                	
                  VA

                	
                  23455

                
	 	 	 	 	 
	 	 	 	 	 
	
                  220

                	
                  GETTY
                    REALTY CORP. LEASED LOCATIONS

                	 	 	 

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Schedule
        2.01

       

      

       

      
        	To:	Getty
                Realty Corp. Lender Group
	 	 
	From:	J.P.
                Morgan Securities, Inc.
	 	 
	Date:	March
                20, 2007
	 	 
	Re:
                	$175
                million Senior Unsecured Revolving Credit Facility
                Allocations

      

       

      On
        behalf
        of Getty Realty Corp., JPMorgan is please to announce the allocations for
        the
        $175 million Revolving Credit Facility.

       

       

      
        	Lender	Title	
                Allocation

              
	JPMorgan
                Chase Bank, N.A.	Sole
                Lead Arranger / Administrative Agent	
                $32,000,000

              
	Charter
                One Bank, N.A.	Syndication
                Agent	
                30,000,000

              
	Bank
                of America N.A.	Participant	
                
                

                20,000,000

              
	HSBC
                Bank USA, N.A.	Participant	
                20,000,000

              
	Israel
                Discount Bank of New York	Participant	
                20,000,000

              
	North
                Fork Bank	Participant	
                20,000,000

              
	Wachovia
                Bank, N.A.	Participant	
                20,000,000

              
	Sovereign
                Bank	Participant	
                13,000,000

              
	 	 	 
	Total	 	
                 $175,000,000

              

      

       

      Getty
        Realty Corp. and JPMorgan appreciate your support of the Company and of this
        important financing. 

       

      Sincerely,

       

      J.P.
        Morgan Securities Inc.

       

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Schedule
        2.06

      

      

      Getty
        Realty Corp.

      Letters
        of
        Credit Coverage

      12/31/06

      

      

      
        	
                BENEFICIARY

              	 	 	
                INCEPTION

                DATE

              	 	 	
                LC
                  #

              	 	 	
                12/31/2005

              	 	 	
                Effective

                Date

                of
                  change

              	 	 	
                Change
                  in

                coverage

              	 	 	
                12/31/06

              	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                NATIONAL
                  UNION

              	 	 	
                09/28/1992

              	 	 	
                C-296972

              	 	
                $

              	
                101,000

              	 	 	 	 	
                $

              	
                0

              	 	
                $

              	
                101,000

              	 
	 	 	 	
                
                

              	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                TRAVELERS

              	 	 	
                09/01/1992

              	 	 	
                C-295204

              	 	 	
                56,000

              	 	 	 	 	 	
                0
                  

              	 	 	
                56,000

              	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                Totals

              	 	 	 	 	 	 	 	
                $

              	
                157,000

              	 	 	 	 	
                $

              	
                0

              	 	
                $

              	
                157,000

              	 

      

       

      Note:
        this
        is for insurance purposes; we are self insured.

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

        
           

          Schedule
            3.06

           

           

          Disclosed
            Matters

           

          None

           

           

           

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

        

      

      Schedule
        6.02

      

      

      GETTY
        REALTY CORP.

      MORTGAGES
        PAYABLE

      FEBRUARY
        28, 2007 VS. DECEMBER 31, 2006

      (IN
        THOUSANDS)

      
 

      
        	
                Payable
                  to

              	 	
                Location

              	 	
                Interest

                 Rate

              	 	
                Inception

                Date

              	 	
                Due

                 Date

              	 	
                Balance
                  12/31/06

              	 	
                Reductions

              	 	
                Ending
                  

                Balance

              	 	
                Current

                 Portion

              	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                Barbara
                  Hilliard

              	 	 	
                55211

              	 	 	
                4.00

              	
                %
                  (1)

              	 	
                06/1989

              	 	 	
                07/2014

              	 	
                $

              	
                163

              	 	
                $

              	
                4

              	 	
                $

              	
                159

              	 	
                $

              	
                19

              	 
	
                Crosswinds
                  Associates

              	 	 	
                71215

              	 	 	
                6.00

              	
                %

              	 	
                05/2004

              	 	 	
                05/2009

              	 	 	
                31

              	 	 	
                2

              	 	 	
                29

              	 	 	
                12

              	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                TOTAL
                  MORTGAGES PAYABLE

              	 	 	 	 	 	
                4.31

              	
                %

              	 	 	 	 	 	 	
                $

              	
                194

              	 	
                $

              	
                6

              	 	
                $

              	
                188

              	 	
                $

              	
                31

              	 

      

      

      

      55211   DANFORTH
        CIRCLE

               
DERRY
        NH
        03038 

      

      

      71215
        -
        1148 VOLVO PARKWAY

               
CHESAPEAKE
        VA 23320 

      
 

       

      Note:

      
        	(1)  	
                Interest
                  shall be adjusted every five years, from the original date of the
                  note,
                  according to First National Bank of Boston’s prime rate. Rate shall
                  therefore be reset effective
                  6/16/09.

              

      

      
 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

         

      

      Schedule
        6.03

      

      

      GETTY
        REALTY CORP.

      MORTGAGES
        PAYABLE

      FEBRUARY
        28, 2007 VS. DECEMBER 31, 2006

      (IN
        THOUSANDS)

       

      

      
        	
                Payable
                  to

              	 	
                Location

              	 	
                Interest

                 Rate

              	 	
                Inception

                 Date

              	 	
                Due

                 Date

              	 	
                Balance
                  12/31/06

              	 	
                Reductions

              	 	
                Ending
                  Balance

              	 	
                Current
                  Portion

              	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                Barbara
                  Hilliard

              	 	 	
                55211

              	 	 	
                4.00

              	
                
                  
                    %
                      (1)

                  

                

              	 	
                06/1989

              	 	 	
                07/2014

              	 	
                $

              	
                163

              	 	
                $

              	
                4

              	 	
                $

              	
                159

              	 	
                $

              	
                19

              	 
	
                Crosswinds
                  Associates

              	 	 	
                71215

              	 	 	
                6.00

              	
                %

              	 	
                05/2004

              	 	 	
                05/2009

              	 	 	
                31

              	 	 	
                2

              	 	 	
                29

              	 	 	
                12

              	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                TOTAL
                  MORTGAGES PAYABLE

              	 	 	 	 	 	
                4.31

              	
                %

              	 	 	 	 	 	 	
                $

              	
                194

              	 	
                $

              	
                6

              	 	
                $

              	
                188

              	 	
                $

              	
                31

              	 

      

      

       

      
        55211   DANFORTH
          CIRCLE

                 
DERRY
          NH
          03038 

        

        

        71215
          -
          1148 VOLVO PARKWAY

                 
CHESAPEAKE
          VA 23320 

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

       

      Schedule
        7.01

       

      
        
          	
                  Facility
                    ID

                	
                  Facility
                    City

                	
                  Facility
                    State

                	
                  Current
                    Lifecycle Phase

                
	
                  6

                	
                  Brooklyn

                	
                  NY

                	
                  O
                    & M

                
	
                  7

                	
                  Jamaica

                	
                  NY

                	
                  O
                    & M

                
	
                  8

                	
                  Rego
                    Park

                	
                  NY

                	
                  RAP
                    Prep

                
	
                  16

                	
                  Ozone
                    Park

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  17

                	
                  Brooklyn

                	
                  NY

                	
                  Assessment

                
	
                  24

                	
                  Bronx

                	
                  NY

                	
                  Assessment

                
	
                  38

                	
                  Oceanside

                	
                  NY

                	
                  O
                    & M

                
	
                  54

                	
                  Brightwaters

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  61

                	
                  Middle
                    Island

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  68

                	
                  Blauvelt

                	
                  NY

                	
                  Closure
                    Compliance Activities

                
	
                  77

                	
                  New
                    Rochelle

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  91

                	
                  Elmsford

                	
                  NY

                	
                  O
                    & M

                
	
                  93

                	
                  Pelham
                    Manor

                	
                  NY

                	
                  Closure
                    Compliance Activities

                
	
                  100

                	
                  Mahwah

                	
                  NJ

                	
                  Closure
                    Compliance Activities

                
	
                  102

                	
                  Peekskill

                	
                  NY

                	
                  O
                    & M

                
	
                  103

                	
                  Port
                    Chester

                	
                  NY

                	
                  O
                    & M

                
	
                  110

                	
                  Medford

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  111

                	
                  Bronx

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  115

                	
                  Bronx

                	
                  NY

                	
                  O
                    & M

                
	
                  126

                	
                  Brooklyn

                	
                  NY

                	
                  Assessment

                
	
                  169

                	
                  Wappingers
                    Falls

                	
                  NY

                	
                  O
                    & M

                
	
                  195

                	
                  Staten
                    Island

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  200

                	
                  Staten
                    Island

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  210

                	
                  Bronx

                	
                  NY

                	
                  O
                    & M

                
	
                  214

                	
                  Jamaica

                	
                  NY

                	
                  O
                    & M

                
	
                  218

                	
                  Middle
                    Village

                	
                  NY

                	
                  Closure
                    Compliance Activities

                
	
                  219

                	
                  Long
                    Island City

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  223

                	
                  Brooklyn

                	
                  NY

                	
                  O
                    & M

                
	
                  228

                	
                  Brooklyn

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  232

                	
                  Bellaire

                	
                  NY

                	
                  O
                    & M

                
	
                  234

                	
                  Staten
                    Island

                	
                  NY

                	
                  O
                    & M

                
	
                  235

                	
                  Staten
                    Island

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  240

                	
                  Springfield
                    Gardens

                	
                  NY

                	
                  O
                    & M

                
	
                  254

                	
                  NORTH
                    BRUNSWICK

                	
                  NJ

                	
                  Closure
                    Compliance Activities

                
	
                  257

                	
                  Bronx

                	
                  NY

                	
                  O
                    & M

                
	
                  258

                	
                  Bronx

                	
                  NY

                	
                  O
                    & M

                
	
                  259

                	
                  Bronx

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  264

                	
                  Bronx

                	
                  NY

                	
                  Closure
                    Compliance Activities

                
	
                  268

                	
                  Bronx

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  269

                	
                  Bronx

                	
                  NY

                	
                  Assessment

                
	
                  270

                	
                  Bronx

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  272

                	
                  Bronx

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  275

                	
                  Bronx

                	
                  NY

                	
                  RAP
                    Prep

                
	
                  277

                	
                  Bronx

                	
                  NY

                	
                  O
                    & M

                
	
                  278

                	
                  Yonkers

                	
                  NY

                	
                  O
                    & M

                
	
                  288

                	
                  Atlantic
                    Highlands

                	
                  NJ

                	
                  O
                    & M

                
	
                  296

                	
                  Merrick

                	
                  NY

                	
                  Closure
                    Activities

                
	
                  304

                	
                  Old
                    Bridge

                	
                  NJ

                	
                  O
                    & M

                
	
                  312

                	
                  Flushing

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  323

                	
                  Bronx

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  324

                	
                  Staten
                    Island

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  329

                	
                  Bronx

                	
                  NY

                	
                  O
                    & M

                
	
                  331

                	
                  Bronx

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  332

                	
                  Bronx

                	
                  NY

                	
                  O
                    & M

                
	
                  335

                	
                  Brooklyn

                	
                  NY

                	
                  Assessment

                
	
                  336

                	
                  Brooklyn

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  339

                	
                  New
                    York

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  340

                	
                  New
                    York

                	
                  NY

                	
                  RAP
                    Prep

                
	
                  341

                	
                  New
                    York

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  343

                	
                  Ozone
                    Park

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  344

                	
                  Long
                    Island City

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  350

                	
                  Spring
                    Valley

                	
                  NY

                	
                  Closure
                    Compliance Activities

                
	
                  353

                	
                  Flushing

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  355

                	
                  W.
                    Brentwood

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  357

                	
                  N.
                    Babylon

                	
                  NY

                	
                  O
                    & M

                
	
                  359

                	
                  Amityville

                	
                  NY

                	
                  Closure
                    Activities

                
	
                  360

                	
                  Smithtown

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  361

                	
                  Astoria

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  362

                	
                  Staten
                    Island

                	
                  NY

                	
                  O
                    & M

                
	
                  365

                	
                  Old
                    Greenwich

                	
                  CT

                	
                  Closure
                    Activities

                
	
                  366

                	
                  Lake
                    Ronkonkoma

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  369

                	
                  White
                    Plains

                	
                  NY

                	
                  O
                    & M

                
	
                  370

                	
                  Keyport

                	
                  NJ

                	
                  O
                    & M

                
	
                  379

                	
                  West
                    Haverstraw

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  396

                	
                  Staten
                    Island

                	
                  NY

                	
                  O
                    & M

                
	
                  426

                	
                  Deer
                    Park

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  491

                	
                  Wantagh

                	
                  NY

                	
                  Assessment

                
	
                  523

                	
                  Toms
                    River

                	
                  NJ

                	
                  O
                    & M

                
	
                  535

                	
                  N.
                    Babylon

                	
                  NY

                	
                  O
                    & M

                
	
                  539

                	
                  W.
                    Paterson

                	
                  NJ

                	
                  O
                    & M

                
	
                  549

                	
                  Bronx

                	
                  NY

                	
                  O
                    & M

                
	
                  561

                	
                  Staten
                    Island

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  564

                	
                  Brooklyn

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  571

                	
                  N.
                    White Plains

                	
                  NY

                	
                  Closure
                    Compliance Activities

                
	
                  577

                	
                  Yonkers

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  580

                	
                  Branford

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  581

                	
                  Bridgeport

                	
                  CT

                	
                  Closure
                    Activities

                
	
                  583

                	
                  Coventry

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  587

                	
                  Franklin

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  589

                	
                  Manchester

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  590

                	
                  Meriden

                	
                  CT

                	
                  Closure
                    Activities

                
	
                  595

                	
                  New
                    Milford

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  596

                	
                  North
                    Haven

                	
                  CT

                	
                  Closure
                    Activities

                
	
                  598

                	
                  Norwich

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  600

                	
                  Wauregan

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  604

                	
                  Terryville

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  606

                	
                  Tolland

                	
                  CT

                	
                  Closure
                    Activities

                
	
                  607

                	
                  Union
                    City

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  611

                	
                  Waterford

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  615

                	
                  Woodbridge

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  624

                	
                  Granby

                	
                  MA

                	
                  O
                    & M

                
	
                  628

                	
                  Monson

                	
                  MA

                	
                  GW
                    Monitoring

                
	
                  633

                	
                  PITTSFIELD

                	
                  MA

                	
                  GW
                    Monitoring

                
	
                  647

                	
                  OSSINING

                	
                  NY

                	
                  O
                    & M

                
	
                  649

                	
                  Brooklyn

                	
                  NY

                	
                  Closure
                    Activities

                
	
                  653

                	
                  Elizabeth

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  655

                	
                  Englishtown

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  656

                	
                  Hamilton

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  660

                	
                  Lakewood

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  661

                	
                  Lawnside

                	
                  NJ

                	
                  O
                    & M

                
	
                  664

                	
                  Newark

                	
                  NJ

                	
                  RAP
                    Implementation

                
	
                  667

                	
                  Paramus

                	
                  NJ

                	
                  O
                    & M

                
	
                  673

                	
                  Pleasantville

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  676

                	
                  Glen
                    Head

                	
                  NY

                	
                  O
                    & M

                
	
                  677

                	
                  New
                    Rochelle

                	
                  NY

                	
                  O
                    & M

                
	
                  679

                	
                  Torrington

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  684

                	
                  Westfield

                	
                  NJ

                	
                  Closure
                    Activities

                
	
                  685

                	
                  Dobbs
                    Ferry

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  687

                	
                  Wolcott

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  688

                	
                  Plainville

                	
                  CT

                	
                  O
                    & M

                
	
                  709

                	
                  Brooklyn

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  6722

                	
                  Bloomfield

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  6725

                	
                  Simsbury

                	
                  CT

                	
                  O
                    & M

                
	
                  6742

                	
                  Ridgefield

                	
                  CT

                	
                  O
                    & M

                
	
                  6743

                	
                  Bridgeport

                	
                  CT

                	
                  Closure
                    Activities

                
	
                  6744

                	
                  Norwalk

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  6765

                	
                  Stamford

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  6766

                	
                  Hamden

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  6772

                	
                  Cos
                    Cob

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  6778

                	
                  Stratford

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  6782

                	
                  Fairfield

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  6811

                	
                  Bristol

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  6813

                	
                  Brookfield

                	
                  CT

                	
                  O
                    & M

                
	
                  6817

                	
                  Torrington

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  6826

                	
                  Hartford

                	
                  CT

                	
                  Closure
                    Activities

                
	
                  6831

                	
                  New
                    Haven

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  6837

                	
                  Wilton

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  6850

                	
                  W.
                    Hartford

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  6853

                	
                  Enfield

                	
                  CT

                	
                  GW
                    Monitoring

                
	
                  6862

                	
                  Stratford

                	
                  CT

                	
                  Closure
                    Activities

                
	
                  8635

                	
                  New
                    Castle

                	
                  DE

                	
                  Assessment

                
	
                  8637

                	
                  St.
                    Georges

                	
                  DE

                	
                  Closure
                    Activities

                
	
                  8641

                	
                  Wilmington

                	
                  DE

                	
                  GW
                    Monitoring

                
	
                  8667

                	
                  Newark

                	
                  DE

                	
                  O
                    & M

                
	
                  8669

                	
                  Wilimington

                	
                  DE

                	
                  O
                    & M

                
	
                  28206

                	
                  Lisbon

                	
                  ME

                	
                  O
                    & M

                
	
                  29813

                	
                  Thurmont

                	
                  MD

                	
                  Assessment

                
	
                  30315

                	
                  S.
                    Weymouth

                	
                  MA

                	
                  GW
                    Monitoring

                
	
                  30344

                	
                  Randolph

                	
                  MA

                	
                  GW
                    Monitoring

                
	
                  30352

                	
                  Watertown

                	
                  MA

                	
                  O
                    & M

                
	
                  30363

                	
                  Weymouth

                	
                  MA

                	
                  GW
                    Monitoring

                
	
                  30374

                	
                  Dedham

                	
                  MA

                	
                  GW
                    Monitoring

                
	
                  30375

                	
                  Hingham

                	
                  MA

                	
                  Assessment

                
	
                  30393

                	
                  Woburn

                	
                  MA

                	
                  GW
                    Monitoring

                
	
                  30409

                	
                  Hyde
                    Park

                	
                  MA

                	
                  O
                    & M

                
	
                  30436

                	
                  Worcester

                	
                  MA

                	
                  O
                    & M

                
	
                  30438

                	
                  New
                    Bedford

                	
                  MA

                	
                  Closure
                    Activities

                
	
                  30548

                	
                  Williamstown

                	
                  MA

                	
                  GW
                    Monitoring

                
	
                  30601

                	
                  Framingham

                	
                  MA

                	
                  O
                    & M

                
	
                  30602

                	
                  Auburn

                	
                  MA

                	
                  GW
                    Monitoring

                
	
                  30603

                	
                  Methuen

                	
                  MA

                	
                  GW
                    Monitoring

                
	
                  30607

                	
                  Salisbury

                	
                  MA

                	
                  GW
                    Monitoring

                
	
                  30612

                	
                  Chatham

                	
                  MA

                	
                  O
                    & M

                
	
                  30624

                	
                  Peabody

                	
                  MA

                	
                  Closure
                    Activities

                
	
                  30629

                	
                  Tewksbury

                	
                  MA

                	
                  O
                    & M

                
	
                  30631

                	
                  Falmouth

                	
                  MA

                	
                  GW
                    Monitoring

                
	
                  30633

                	
                  Westford

                	
                  MA

                	
                  GW
                    Monitoring

                
	
                  30646

                	
                  Stoughton

                	
                  MA

                	
                  GW
                    Monitoring

                
	
                  30653

                	
                  Barre

                	
                  MA

                	
                  O
                    & M

                
	
                  30696

                	
                  Fitchburg

                	
                  MA

                	
                  Closure
                    Compliance Activities

                
	
                  55211

                	
                  Derry

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55237

                	
                  Salem

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55241

                	
                  Hampton

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55242

                	
                  Manchester

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55243

                	
                  Manchester

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55244

                	
                  Merrimack

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55246

                	
                  Pelham

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55247

                	
                  Pembrook

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55249

                	
                  Rochester

                	
                  NH

                	
                  RAP
                    Implementation

                
	
                  55250

                	
                  Rochester

                	
                  NH

                	
                  O
                    & M

                
	
                  55253

                	
                  Somersworth

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55256

                	
                  Candia

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55257

                	
                  Epping

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55258

                	
                  Epsom

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55259

                	
                  Exeter

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55260

                	
                  Hampton

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55261

                	
                  Milford

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55264

                	
                  Portsmouth

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55265

                	
                  Portsmouth

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55266

                	
                  Rochester

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55267

                	
                  Salem

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  55268

                	
                  Seabrook

                	
                  NH

                	
                  GW
                    Monitoring

                
	
                  56009

                	
                  West
                    Milford

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  56023

                	
                  Willingboro

                	
                  NJ

                	
                  Closure
                    Activities

                
	
                  56027

                	
                  Hamilton
                    Sq.

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  56056

                	
                  Union

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  56064

                	
                  Spotswood

                	
                  NJ

                	
                  O
                    & M

                
	
                  56065

                	
                  New
                    Brunswick

                	
                  NJ

                	
                  Closure
                    Activities

                
	
                  56079

                	
                  Bayonne

                	
                  NJ

                	
                  Assessment

                
	
                  56088

                	
                  Sewell

                	
                  NJ

                	
                  O
                    & M

                
	
                  56101

                	
                  Trenton

                	
                  NJ

                	
                  O
                    & M

                
	
                  56102

                	
                  Lodi

                	
                  NJ

                	
                  O
                    & M

                
	
                  56113

                	
                  Spring
                    Lake Heights

                	
                  NJ

                	
                  O
                    & M

                
	
                  56132

                	
                  Asbury
                    Park

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  56142

                	
                  Paterson

                	
                  NJ

                	
                  O
                    & M

                
	
                  56148

                	
                  Freehold

                	
                  NJ

                	
                  Assessment

                
	
                  56159

                	
                  Turnersville

                	
                  NJ

                	
                  RAP
                    Implementation

                
	
                  56169

                	
                  Montvale

                	
                  NJ

                	
                  O
                    & M

                
	
                  56215

                	
                  Neptune

                	
                  NJ

                	
                  O
                    & M

                
	
                  56230

                	
                  Newark

                	
                  NJ

                	
                  Assessment

                
	
                  56258

                	
                  Tuckerton

                	
                  NJ

                	
                  Closure
                    Compliance Activities

                
	
                  56260

                	
                  W.
                    Deptford

                	
                  NJ

                	
                  O
                    & M

                
	
                  56263

                	
                  Somerville

                	
                  NJ

                	
                  O
                    & M

                
	
                  56276

                	
                  Fort
                    Lee

                	
                  NJ

                	
                  O
                    & M

                
	
                  56803

                	
                  Bergenfield

                	
                  NJ

                	
                  Closure
                    Compliance Activities

                
	
                  56818

                	
                  Bloomfield

                	
                  NJ

                	
                  O
                    & M

                
	
                  56821

                	
                  South
                    Orange

                	
                  NJ

                	
                  Assessment

                
	
                  56822

                	
                  Irvington

                	
                  NJ

                	
                  Predelineation

                
	
                  56843

                	
                  Union

                	
                  NJ

                	
                  Closure
                    Compliance Activities

                
	
                  56844

                	
                  Nutley

                	
                  NJ

                	
                  O
                    & M

                
	
                  56852

                	
                  Englewood

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  56869

                	
                  Irvington

                	
                  NJ

                	
                  RAP
                    Prep

                
	
                  56871

                	
                  Jersey
                    City

                	
                  NJ

                	
                  RAP
                    Prep

                
	
                  56873

                	
                  Watchung

                	
                  NJ

                	
                  O
                    & M

                
	
                  56877

                	
                  Green
                    Village

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  56882

                	
                  N.
                    Plainfield

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  56891

                	
                  Bloomfield

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  56892

                	
                  Dover

                	
                  NJ

                	
                  Closure
                    Activities

                
	
                  56893

                	
                  Parlin

                	
                  NJ

                	
                  O
                    & M

                
	
                  56896

                	
                  Colonia

                	
                  NJ

                	
                  O
                    & M

                
	
                  56915

                	
                  Ridgewood

                	
                  NJ

                	
                  O
                    & M

                
	
                  56919

                	
                  Wayne

                	
                  NJ

                	
                  O
                    & M

                
	
                  56921

                	
                  Washington

                	
                  NJ

                	
                  O
                    & M

                
	
                  56922

                	
                  Paramus

                	
                  NJ

                	
                  O
                    & M

                
	
                  56924

                	
                  Garfield

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  56926

                	
                  Fort
                    Lee

                	
                  NJ

                	
                  O
                    & M

                
	
                  56933

                	
                  Belford

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  56935

                	
                  Eatontown

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  56939

                	
                  MONMOUTH
                    BC

                	
                  NJ

                	
                  O
                    & M

                
	
                  56955

                	
                  Swedesboro

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  56965

                	
                  Trenton

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  56999

                	
                  West
                    Orange

                	
                  NJ

                	
                  Assessment

                
	
                  58006

                	
                  Rockville
                    Centre

                	
                  NY

                	
                  Closure
                    Activities

                
	
                  58007

                	
                  Glendale

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58014

                	
                  Bronx

                	
                  NY

                	
                  O
                    & M

                
	
                  58015

                	
                  Brooklyn

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58018

                	
                  BAYSIDE

                	
                  NY

                	
                  Closure
                    Activities

                
	
                  58034

                	
                  Port
                    Washington

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58053

                	
                  Brooklyn

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58071

                	
                  St.
                    Albans

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58073

                	
                  Ridgewood

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58077

                	
                  Brooklyn

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58079

                	
                  Brooklyn

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58085

                	
                  Bayside

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58092

                	
                  Ardsley

                	
                  NY

                	
                  Closure
                    Compliance Activities

                
	
                  58097

                	
                  New
                    Rochelle

                	
                  NY

                	
                  O
                    & M

                
	
                  58108

                	
                  White
                    Plains

                	
                  NY

                	
                  O
                    & M

                
	
                  58111

                	
                  Scarsdale

                	
                  NY

                	
                  Closure
                    Compliance Activities

                
	
                  58119

                	
                  Brooklyn

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58154

                	
                  Bronx

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58161

                	
                  YONKERS

                	
                  NY

                	
                  Closure
                    Compliance Activities

                
	
                  58185

                	
                  Montauk

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58205

                	
                  New
                    York

                	
                  NY

                	
                  Closure
                    Compliance Activities

                
	
                  58254

                	
                  Albany

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58409

                	
                  New
                    York

                	
                  NY

                	
                  RAP
                    Implementation

                
	
                  58412

                	
                  Brooklyn

                	
                  NY

                	
                  O
                    & M

                
	
                  58415

                	
                  Brooklyn

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58441

                	
                  Staten
                    Island

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58442

                	
                  Staten
                    Island

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58443

                	
                  Staten
                    Island

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58471

                	
                  Cedarhurst

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58505

                	
                  Bronx

                	
                  NY

                	
                  O
                    & M

                
	
                  58513

                	
                  Bronx

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58514

                	
                  New
                    York

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58515

                	
                  Nyack

                	
                  NY

                	
                  O
                    & M

                
	
                  58526

                	
                  Ozone
                    Park

                	
                  NY

                	
                  O
                    & M

                
	
                  58547

                	
                  Astoria

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58553

                	
                  Staten
                    Island

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58563

                	
                  Merrick

                	
                  NY

                	
                  Closure
                    Activities

                
	
                  58565

                	
                  Massapequa

                	
                  NY

                	
                  Closure
                    Activities

                
	
                  58573

                	
                  Wantagh

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58579

                	
                  Uniondale

                	
                  NY

                	
                  O
                    & M

                
	
                  58585

                	
                  Arverne

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58592

                	
                  New
                    York

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58605

                	
                  Howard
                    Beach

                	
                  NY

                	
                  O
                    & M

                
	
                  58703

                	
                  Schenectady

                	
                  NY

                	
                  O
                    & M

                
	
                  58718

                	
                  Halfmoon

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58725

                	
                  Millerton

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58728

                	
                  Niskayuna

                	
                  NY

                	
                  O
                    & M

                
	
                  58730

                	
                  Pleasant
                    Valley

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58735

                	
                  Rotterdam

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58788

                	
                  Brewster

                	
                  NY

                	
                  GW
                    Monitoring

                
	
                  58808

                	
                  West
                    Taghkanic

                	
                  NY

                	
                  O
                    & M

                
	
                  67215

                	
                  Philadelphia

                	
                  PA

                	
                  GW
                    Monitoring

                
	
                  67217

                	
                  Philadelphia

                	
                  PA

                	
                  Assessment

                
	
                  67227

                	
                  Allentown

                	
                  PA

                	
                  Closure
                    Activities

                
	
                  67243

                	
                  Bryn
                    Mawr

                	
                  PA

                	
                  GW
                    Monitoring

                
	
                  67259

                	
                  Philadelphia

                	
                  PA

                	
                  O
                    & M

                
	
                  67265

                	
                  Philadelphia

                	
                  PA

                	
                  O
                    & M

                
	
                  67282

                	
                  Bristol

                	
                  PA

                	
                  GW
                    Monitoring

                
	
                  67416

                	
                  Levittown

                	
                  PA

                	
                  O
                    & M

                
	
                  67418

                	
                  Langhorne

                	
                  PA

                	
                  Closure
                    Compliance Activities

                
	
                  67419

                	
                  Pottstown

                	
                  PA

                	
                  Closure
                    Activities

                
	
                  67425

                	
                  Souderton

                	
                  PA

                	
                  O
                    & M

                
	
                  67427

                	
                  Chalfont

                	
                  PA

                	
                  RAP
                    Prep

                
	
                  67432

                	
                  Coopersburg

                	
                  PA

                	
                  Assessment

                
	
                  67433

                	
                  Doylestown

                	
                  PA

                	
                  RAP
                    Prep

                
	
                  67596

                	
                  Paradise

                	
                  PA

                	
                  O
                    & M

                
	
                  67598

                	
                  Linwood

                	
                  PA

                	
                  O
                    & M

                
	
                  67599

                	
                  Elizabethtown

                	
                  PA

                	
                  O
                    & M

                
	
                  67611

                	
                  Shrewsbury

                	
                  PA

                	
                  O
                    & M

                
	
                  67628

                	
                  Hanover

                	
                  PA

                	
                  GW
                    Monitoring

                
	
                  67636

                	
                  Dover

                	
                  PA

                	
                  O
                    & M

                
	
                  67638

                	
                  Glen
                    Rock

                	
                  PA

                	
                  Closure
                    Activities

                
	
                  67654

                	
                  Middletown

                	
                  PA

                	
                  GW
                    Monitoring

                
	
                  68131

                	
                  Brookfield

                	
                  CT

                	
                  O
                    & M

                
	
                  68619

                	
                  Cranston

                	
                  RI

                	
                  GW
                    Monitoring

                
	
                  68623

                	
                  Barrington

                	
                  RI

                	
                  GW
                    Monitoring

                
	
                  68629

                	
                  Warwick

                	
                  RI

                	
                  GW
                    Monitoring

                
	
                  69005

                	
                  Dauphin

                	
                  PA

                	
                  Assessment

                
	
                  69420

                	
                  Reading

                	
                  PA

                	
                  O
                    & M

                
	
                  69428

                	
                  Intercourse

                	
                  PA

                	
                  O
                    & M

                
	
                  69430

                	
                  Reinholds

                	
                  PA

                	
                  Closure
                    Compliance Activities

                
	
                  69439

                	
                  Oxford

                	
                  PA

                	
                  O
                    & M

                
	
                  69447

                	
                  Lancaster

                	
                  PA

                	
                  O
                    & M

                
	
                  69476

                	
                  Shrewsbury

                	
                  PA

                	
                  GW
                    Monitoring

                
	
                  69495

                	
                  Harrisburg

                	
                  PA

                	
                  Closure
                    Compliance Activities

                
	
                  69497

                	
                  Adamstown

                	
                  PA

                	
                  O
                    & M

                
	
                  69676

                	
                  St.
                    Clair

                	
                  PA

                	
                  O
                    & M

                
	
                  69680

                	
                  Reiffton

                	
                  PA

                	
                  RAP
                    Prep

                
	
                  69682

                	
                  Arendtsville

                	
                  PA

                	
                  O
                    & M

                
	
                  69683

                	
                  Mohnton

                	
                  PA

                	
                  Closure
                    Compliance Activities

                
	
                  69685

                	
                  Carlisle

                	
                  PA

                	
                  RAP
                    Implementation

                
	
                  69688

                	
                  Bonneauville

                	
                  PA

                	
                  Assessment

                
	
                  69689

                	
                  Shady
                    Grove

                	
                  PA

                	
                  Assessment

                
	
                  69690

                	
                  Mcconnellsburg

                	
                  PA

                	
                  O
                    & M

                
	
                  94412

                	
                  Westport

                	
                  MA

                	
                  GW
                    Monitoring

                
	
                  95141

                	
                  Millstone

                	
                  NJ

                	
                  Closure
                    Compliance Activities

                
	
                  95142

                	
                  Raritan

                	
                  NJ

                	
                  Closure
                    Compliance Activities

                
	
                  95153

                	
                  Bayonne

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  95192

                	
                  Elizabeth

                	
                  NJ

                	
                  O
                    & M

                
	
                  95203

                	
                  Closter

                	
                  NJ

                	
                  Closure
                    Activities

                
	
                  95214

                	
                  Newark

                	
                  NJ

                	
                  O
                    & M

                
	
                  95307

                	
                  Long
                    Branch

                	
                  NJ

                	
                  GW
                    Monitoring

                
	
                  95317

                	
                  Princeton
                    Jct.

                	
                  NJ

                	
                  Closure
                    Compliance Activities

                
	
                  95337

                	
                  Newark

                	
                  NJ

                	
                  Assessment

                
	
                  95456

                	
                  HoHoKus

                	
                  NJ

                	
                  Closure
                    Compliance Activities

                
	
                  95534

                	
                  Laconia

                	
                  NH

                	
                  Predelineation

                
	
                  96904

                	
                  Middletown

                	
                  RI

                	
                  GW
                    Monitoring

                
	
                  97126

                	
                  Hazleton

                	
                  PA

                	
                  Assessment

                
	
                  97199

                	
                  Philadelphia

                	
                  PA

                	
                  Assessment

                
	
                  97211

                	
                  Wrightstown

                	
                  PA

                	
                  Closure
                    Compliance Activities

                
	
                  97371

                	
                  York

                	
                  PA

                	
                  Closure
                    Activities

                
	
                  98261

                	
                  Yonkers

                	
                  NY

                	
                  O
                    & M

                
	
                  98326

                	
                  Bronxville

                	
                  NY

                	
                  O
                    & M

                
	
                  98505

                	
                  Oceanside

                	
                  NY

                	
                  O
                    & M

                

        

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      
        	
                SCHEDULE
                  OF CONDEMNATIONS 

              	 	 
	 	 	 
	
                1.
                  LOC. # 00190 

              	
                1809
                  ROUTE 1, RAHWAY, NJ 

              	
                TOTAL

              
	
                2.
                  LOC. # 00257

              	
                895
                  MELROSE AVE., BRONX, NY (FEE
                  VESTED 7/20/98) 

              	
                TOTAL

              
	
                3.
                  LOC. # 00498

              	
                1371
                  ROUTE 1 AND JOHN STREET, EDISON, NJ

              	
                TOTAL

              
	
                4.
                  LOC. #00660

              	
                100
                  RIVER ROAD, LAKEWOOD, NJ

              	
                PARTIAL

              
	
                5.
                  LOC. #06130

              	
                85
                  FORBES AVE., NEW HAVEN, CT (TERMINAL)

              	
                PARTIAL

              
	
                6.
                  LOC. #30315

              	
                522
                  MAIN STREET, SOUTH WEYMOUTH, MA

              	
                TOTAL

              
	
                7.
                  LOC. #30518

              	
                299
                  MAIN STREET, GROVELAND, MA

              	
                TOTAL

              
	
                8.
                  LOC. #56065

              	
                282
                  GEORGE ST., NEW BRUNSWICK, NJ (FEE
                  VESTED 12/01/03)

              	
                TOTAL

              
	
                9.
                  LOC. #56832

              	
                743
                  NEWARK AVE., ELIZABETH, NJ (FEE
                  VESTED 9/25/03)

              	
                TOTAL

              
	
                10.
                  LOC #58861 

              	
                5461
                  SOUTHWESTERN BLVD., HAMBURG, NY 

              	
                PARTIAL

              
	
                11.
                  LOC.#67426

              	
                798
                  SUMNEYTOWN PIKE, LANSDALE, PA 

              	
                TOTAL

              
	
                12.
                  LOC. #00190

              	
                1809
                  ROUTE #1, RAHWAY, NJ

              	
                TOTALExhibit 10.1

       

      AMERICHIP
        INTERNATIONAL, INC. 

       

      AMENDED
        AND RESTATED

       

      2003
        NONQUALIFIED STOCK OPTION PLAN 

       

      ARTICLE
        I

      Purpose
        of Plan 

       

      This
        AMENDED AND RESTATED 2003 NONQUALIFIED STOCK OPTION PLAN (the "Plan") of
        AMERICHIP INTERNATIONAL, INC. (the "Company") for persons employed or associated
        with the Company, including without limitation any employee, director, general
        partner, officer, attorney, accountant, consultant or advisor, is intended
        to
        advance the best interests of the Company by providing additional incentive
        to
        those persons who have a substantial responsibility for its management, affairs,
        and growth by increasing their proprietary interest in the success of the
        Company, thereby encouraging them to maintain their relationships with the
        Company. Further, the availability and offering of Stock Options under the
        Plan
        supports and increases the Company's ability to attract, engage and retain
        individuals of exceptional talent upon whom, in large measure, the sustained
        progress growth and profitability of the Company for the shareholders depends.
        

       

      ARTICLE
        II 

      Definitions
        

       

      For
        Plan
        purposes, except where the context might clearly indicate otherwise, the
        following terms shall have the meanings set forth below: 

       

      "Board"
        shall mean the Board of Directors of the Company.

       

      "Code"
        shall mean the Internal Revenue Code of 1986, as amended, and the rules and
        regulations promulgated thereunder.

       

      "Committee"
        shall mean the Compensation Committee, or such other committee appointed
        by the
        Board, which shall be designated by the Board to administer the Plan. The
        Committee shall be composed of one or more persons as from time to time are
        appointed to serve by the Board and may be members of the Board or in the
        alternative, the Plan may be administered by the entire Board. 

       

      "Common
        Shares" shall mean the Company's Common Shares $0.001 par value per share,
        or,
        in the event that the outstanding Common Shares are hereafter changed into
        or
        exchanged for different shares or securities of the Company, such other shares
        or securities.

       

      "Company"
        shall mean AMERICHIP INTERNATIONAL, INC., a Nevada corporation, and any parent
        or subsidiary corporation of AMERICHIP INTERNATIONAL, INC., as such terms
        are
        defined in Section 425(e) and 425(f), respectively of the Code. 

       

      "Optionee"
        shall mean any person employed or associated with the affairs of the Company
        who
        has been granted one or more Stock Options under the Plan.

       

      "Stock
        Option" or "NQSO" shall mean a stock option granted pursuant to the terms
        of the
        Plan.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      "Stock
        Option Agreement" shall mean the agreement between the Company and the Optionee
        under which the Optionee may purchase Common Shares hereunder. 

       

      ARTICLE
        III

      Administration
        of the Plan 

       

      1.
 
        The Committee or Board shall administer the plan and accordingly, it shall
        have
        full power to grant Stock Options, construe and interpret the Plan, establish
        rules and regulations and perform all other acts, including the delegation
        of
        administrative responsibilities, it believes reasonable and proper.

       

      2.
 
        The determination of those eligible to receive Stock Options, and the amount,
        price, type and timing of each Stock Option and the terms and conditions
        of the
        respective stock option agreements shall rest in the sole discretion of the
        Committee, subject to the provisions of the Plan. 

       

      3.
 
        The Committee or Board may cancel any Stock Options awarded under the Plan
        if an
        Optionee conducts himself in a manner which the Committee determines to be
        contrary to the best interest of the Company and its shareholders as set
        forth
        more fully in paragraph 8 of Article X of the Plan.

       

      4.
 
        The Board or the Committee may correct any defect, supply any omission or
        reconcile any inconsistency in the Plan or in any granted Stock Option, in
        the
        manner and to the extent it shall deem necessary to carry it into effect.
        

       

      5.
 
        Any decision made, or action taken, by the Committee or the Board arising
        out or
        in connection with the interpretation and administration of the Plan shall
        be
        final and conclusive. 

       

      6.
 
        Meetings of the Committee shall be held at such times and places as shall
        be
        determined by the Committee. A majority of the members of the Committee shall
        constitute a quorum for the transaction of business, and the vote of a majority
        of those members present at any meeting shall decide any question brought
        before
        that meeting. In addition, the Company may take any action otherwise proper
        under the Plan by the affirmative vote, taken without a meeting, of a majority
        of its members. 

       

      7.
 
        No member of the Committee shall be liable for any act or omission of any
        other
        member of the Committee or for any act or omission on his own part, including,
        but not limited to, the exercise of any power or discretion given to him
        under
        the Plan except those resulting form his own gross negligence or willful
        misconduct.

       

      8.
 
        The Company, through its management, shall supply full and timely information
        to
        the Committee on all matters relating to the eligibility of Optionees, their
        duties and performance, and current information on any Optionee's death,
        retirement, disability or other termination of association with the Company,
        and
        such other pertinent information as the Committee may require. The Company
        shall
        furnish the Committee with such clerical and other assistance as is necessary
        in
        the performance of its duties hereunder. 

       

      ARTICLE
        IV 

      Shares
        Subject to the Plan 

       

      1.
 
        The total number of shares of the Company available for grants of Stock Options
        under the Plan shall be 230,000,000 Common Shares, subject to adjustment
        as
        herein provided, which shares may be either authorized but unissued or
        reacquired Common Shares of the Company.

       

      
        2.
 
          If a Stock Option or portion thereof shall expire or terminate for any
          reason
          without having been exercised in full, the unpurchased shares covered by
          such
          NQSO shall be available for future grants of Stock
          Options.

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      ARTICLE
        V 

      Stock
        Option Terms and Conditions 

       

      1.
 
        Consistent with the Plan's purpose, Stock Options may be granted to any person
        who is performing or who has been engaged to perform services relating to
        the
        operation, development and growth of the Company.

       

      2.
 
        Determination of the option price per share for any stock option issues
        hereunder shall rest in the sole and unfettered discretion of the Committee.
        

       

      3.
 
        All Stock Options granted under the Plan shall be evidenced by agreements
        which
        shall be subject to applicable provisions of the Plan, and such other provisions
        as the Committee may adopt, including the provisions set forth in paragraphs
        2
        through 11 of this Article V.

       

      4.
 
        All Stock Options granted hereunder must be granted within ten years from
        the
        date this Plan is adopted. 

       

      5.
 
        No Stock Option granted hereunder shall be exercisable after the expiration
        of
        ten years from the date such NQSO is granted. The Committee, in its discretion,
        may provide that an option shall be exercisable during such ten year period
        or
        during any lesser period of time. The Committee may establish installment
        exercise terms for a Stock Option such that the NQSO becomes fully exercisable
        in a series of cumulating portions. If an Optionee shall not, in any given
        installment period, purchase all the Common Shares which such Optionee is
        entitled to purchase within such installment period, such Optionee's right
        to
        purchase any Common Shares not purchased in such installment period shall
        continue until the expiration or sooner termination of such NQSO. The Committee
        may also accelerate the exercise of any NQSO. 

       

      6.
 
        A Stock Option, or portion thereof, shall be exercised by deliver of (i)
        a
        written notice of exercise to the Company specifying the number of Common
        Shares
        to be purchased, and (ii) payment of the full exercise price of such Common
        Shares, as fully set forth in paragraph 7 of this Article V. The payment
        of the
        exercise price may be offset against a debt owed by the Company to the Optionee.
          No NQSO or installment thereof shall be reusable except with respect to
        whole shares, and fractional share interests shall be disregarded. Not less
        than
        100 Common Shares may be purchased at one time unless the number purchased
        is
        the total number at the time available for purchase under the NQSO. Until
        the
        Common Shares represented by an exercised NQSO are issued to an Optionee,
        he
        shall have none of the rights of a shareholder.

       

      7.
 
        The exercise price of a Stock Option, or portion thereof, may be paid:

       

      A.
 
        In United States dollars, in cash or by cashier's check, certified check,
        bank
        draft or money order, payable to the order of the Company in an amount equal
        to
        the option price or offset against an existing debt owed by the Company to
        the
        Optionee; or,     

       

      B.
 
        At the discretion of the Committee, through the delivery of fully paid and
        nonassessable Common Shares, with an aggregate fair market value (determined
        as
        the average of the highest and lowest reported sales prices on the Common
        Shares
        as of the date of exercise of the NQSO, as reported by such responsible
        reporting service as the Committee may select, or if there were not transactions
        in the Common Shares on such day, then the last preceding day on which
        transactions took place), as of the date of the NQSO exercise equal to the
        option price, provided such tendered shares, or any derivative security
        resulting in the issuance of Common Shares, have been owned by he Optionee
        for
        at least 30 days prior to such exercise; or, 

       

      
        C.
 
          By a combination of both A and B above. 

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      8.
 
        The Committee shall determine acceptable methods for tendering Common Shares
        as
        payment upon exercise of a Stock Option and may impose such limitations and
        prohibitions on the use of Common Shares to exercise an NQSO as it deems
        appropriate. 

       

      9.
 
        With the Optionee's consent, the Committee may cancel any Stock Option issued
        under this Plan and issue a new NQSO to such Optionee. 

       

      10.
 
        Except by will, the laws of descent and distribution, or with the written
        consent of the Committee, no right or interest in any Stock Option granted
        under
        the Plan shall be assignable or transferable, and no right or interest of
        any
        Optionee shall be liable for, or subject to, any lien, obligation or liability
        of the Optionee. Upon petition to, and thereafter with the written consent
        of
        the Committee, an Optionee may assign or transfer all or a portion of the
        Optionee's rights and interest in any stock option granted hereunder. Stock
        Options shall be exercisable during the Optionee's lifetime only by the Optionee
        or assignees, or the duly appointed legal representative of an incompetent
        Optionee, including following an assignment consented to by the Committee
        herein. 

       

      11.
 
        No NQSO shall be exercisable while there is outstanding any other NQSO which
        was
        granted to the Optionee before the grant of such option under the Plan or
        any
        other plan which gives the right to the Optionee to purchase stock in the
        Company or in a corporation which is a parent corporation (as defined in
        Section
        425(e) of the Code) of the Company, or any predecessor corporation of any
        of
        such corporations at the time of the grant. An NQSO shall be treated as
        outstanding until it is either exercised in full or expires by reason of
        lapse
        of time. 

       

      12.
        Any
        Optionee who disposes of Common Shares acquired on the exercise of a NQSO
        by
        sale or exchange either (i) within two years after the date of the grant
        of the
        NQSO under which the stock was acquired, or (ii) within one year after the
        acquisition of such Shares, shall notify the Company of such disposition
        and of
        the amount realized upon such disposition. The transfer of Common Shares
        may
        also be restricted by applicable provisions of the Securities Act of 1933,
        as
        amended.

       

      ARTICLE
        VI

      Adjustments
        or Changes in Capitalization 

       

      1.
 
        In the event that the outstanding Common Shares of the Company are hereafter
        changed into or exchanged for a different number of kinds of shares or other
        securities of the Company by reason of merger, consolidation, other
        reorganization, recapitalization, reclassification, combination of shares,
        stock
        split-up or stock dividend:

       

      A.
 
        Prompt, proportionate, equitable, lawful and adequate adjustment shall be
        made
        of the aggregate number and kind of shares subject to Stock Options which
        may be
        granted under the Plan, such that the Optionee shall have the right to purchase
        such Common Shares as may be issued in exchange for the Common Shares
        purchasable on exercise of the NQSO had such merger, consolidation, other
        reorganization, recapitalization, reclassification, combination of shares,
        stock
        split-up or stock dividend not taken place;

       

      B.
 
Rights
        under unexercised Stock Options or
        portions thereof granted prior to any such change, both as to the number
        or kind
        of shares and the exercise price per share, shall be adjusted appropriately,
        provided that such adjustments shall be made without change in the total
        exercise price applicable to the unexercised portion of such NQSO's but by
        an
        adjustment in the price for each share covered by such NQSO's; or,

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      C.
 
        Upon any dissolution or liquidation of the Company or any merger or combination
        in which the Company is not a surviving corporation, each outstanding Stock
        Option granted hereunder shall terminate, but the Optionee shall have the
        right,
        immediately prior to such dissolution, liquidation, merger or combination,
        to
        exercise his NQSO in whole or in part, to the extent that it shall not have
        been
        exercised, without regard to any installment exercise provisions in such
        NQSO.

       

      2.
 
        The foregoing adjustment and the manner of application of the foregoing
        provisions shall be determined solely by the Committee, whose determination
        as
        to what adjustments shall be made and the extent thereof, shall be final,
        binding and conclusive. No fractional Shares shall be issued under the Plan
        on
        account of any such adjustments.   

       

      ARTICLE
        VII

      Merger,
        Consolidation or Tender Offer 

       

      1.
 
        If the Company shall be a party to a binding agreement to any merger,
        consolidation or reorganization or sale of substantially all the assets of
        the
        Company, each outstanding Stock Option shall pertain and apply to the securities
        and/or property which a shareholder of the number of Common Shares of the
        Company subject to the NQSO would be entitled to receive pursuant to such
        merger, consolidation or reorganization or sale of assets.

       

      2.
 
        In the event that: 

       

      A.
 
        Any person other than the Company shall acquire more than 20% of the Common
        Shares of the Company through a tender offer, exchange offer or otherwise;
        

       

      B.
 
        A change in the "control" of the Company occurs, as such term is defined
        in Rule
        405 under the Securities Act of 1933; 

       

      C.
 
        There shall be a sale of all or substantially all of the assets of the Company;
        any then outstanding Stock Option held by an Optionee, who is deemed by the
        Committee to be a statutory officer ("insider") for purposes of Section 16
        of
        the Securities Exchange Act of 1934 shall be entitled to receive, subject
        to any
        action by the Committee revoking such an entitlement as provided for below,
        in
        lieu of exercise of such Stock Option, to the extent that it is then
        exercisable, a cash payment in an amount equal to the difference between
        the
        aggregate exercise price of such NQSO, or portion thereof, and, (i) in the
        event
        of an offer or similar event, the final offer price per share paid for Common
        Shares, or such lower price as the Committee may determine to conform an
        option
        to preserve its Stock Option status, times the number of Common Shares covered
        by the NQSO or portion thereof, or (ii) in the case of an event covered by
        B or
        C above, the aggregate fair market value of the Common Shares covered b y
        the
        Stock Option, as determined by the Committee at such time. 

       

      3.
 
        Any payment which the Company is required to make pursuant to paragraph 2
        of
        this Article VII, shall be made within 15 business days, following the event
        which results in the Optionee's right to such payment. In the event of a
        tender
        offer in which fewer than all the shares which are validity tendered in
        compliance with such offer are purchased or exchanged, then only that portion
        of
        the shares covered by an NQSO as results from multiplying
        such shares by a fraction, the numerator of which is the number of Common
        Shares
        acquired purchase to the offer and the denominator of which is the number
        of
        Common Shares tendered in compliance with such offer, shall be used to determine
        the payment thereupon. To the extent that all or any portion of a Stock Option
        shall be affected by this provision, all or such portion of the NQSO shall
        be
        terminated.

       

      
        
          
             

          

          
             

            
              

            

          

          
             

          

        

      

       

      4.
 
        Notwithstanding paragraphs 1 and 3 of this Article VII, the Company may,
        by
        unanimous vote and resolution, unilaterally revoke the benefits of the above
        provisions; provided, however, that such vote is taken no later than ten
        business days following public announcement of the intent of an offer of
        the
        change of control, whichever occurs earlier. 

       

      ARTICLE
        VIII 

      Amendment
        and Termination of Plan 

       

      1.
 
        The Board may at any time, and from time to time, suspend or terminate the
        Plan
        in whole or in part or amend it from time to time in such respects as the
        Board
        may deem appropriate and in the best interest of the Company. 

       

      2.
 
        No amendment, suspension or termination of this Plan shall, without the
        Optionee's consent, alter or impair any of the rights or obligations under
        any
        Stock Option theretofore granted to him under the Plan.

       

      3.
 
        The Board may amend the Plan, subject to the limitations cited above, in
        such
        manner as it deems necessary to permit the granting of Stock Options meeting
        the
        requirements of future amendments or issued regulations, if any, to the Code.
        

       

      4.
 
        No NQSO may be granted during any suspension of the Plan or after termination
        of
        the Plan. 

       

      ARTICLE
        IX 

      Government
        and Other Regulations 

       

      The
        obligation of the Company to issue, transfer and deliver Common Shares for
        Stock
        Options exercised under the Plan shall be subject to all applicable laws,
        regulations, rules, orders and approval which shall then be in effect and
        required by the relevant stock exchanges on which the Common Shares are traded
        and by government entities as set forth below or as the Committee in its
        sole
        discretion shall deem necessary or advisable. Specifically, in connection
        with
        the Securities Act of 1933, as amended, upon exercise of any Stock Option,
        the
        Company shall not be required to issue Common Shares unless the Committee
        has
        received evidence satisfactory to it to the effect that the Optionee will
        not
        transfer such shares except pursuant to a registration statement in effect
        under
        such Act or unless an opinion of counsel satisfactory to the Company has
        been
        received by the Company to the effect that such registration is not required.
        Any determination in this connection by the Committee shall be final, binding
        and conclusive. The Company may, but shall in no event be obligated to take
        any
        other affirmative action in order to cause the exercise of a Stock Option
        or the
        issuance of Common Shares purchase thereto to comply with any law or regulation
        of any government authority. 

       

      ARTICLE
        X 

      Miscellaneous
        Provisions 

       

      1.
 
        No person shall have any claim or right to be granted a Stock Option under
        the
        Plan, and the grant of an NQSO under the Plan shall not be construed as giving
        an Optionee the right to be retained by the Company. Furthermore, the Company
        expressly reserves the right at any time to terminate its relationship with
        an
        Optionee with or without cause, free from any liability, or any claim under
        the
        Plan, except as provided herein, in an option agreement, or in any agreement
        between the Company and the Optionee. 

       

      2.
 
Any
        expenses of administering this Plan
        shall be borne by the Company.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      3.
 
        The payment received from Optionee from the exercise of Stock Options under
        the
        Plan shall be used for the general corporate purposes of the
        Company.

       

      4.
 
        The place of administration of the Plan shall be in the state of Nevada,
        and the
        validity, contraction, interpretation, administration and effect of the Plan
        and
        its rules and regulations, and rights relating to the Plan, shall be determined
        solely in accordance with the laws of the state of Nevada.

       

      5.
 
        Without amending the Plan, grants may be made to persons who are foreign
        nationals or employed outside the United States, or both, on such terms and
        conditions, consistent with the Plan's purpose, different from those specified
        in the Plan as may, in the judgment of the Committee, be necessary or desirable
        to create equitable opportunities given differences in tax laws in other
        countries.

       

      6.
 
        In addition to such other rights of indemnification as they may have as members
        of the Board or Committee, the members of the Committee shall be indemnified
        by
        the Company against all costs and expenses reasonably incurred by them in
        connection with any action, suite or proceeding to which they or any of them
        may
        be party by reason of any action taken or failure to act under or in connection
        with the Plan or any Stock Option granted thereunder, an against all amount
        paid
        by them in settlement thereof (provided such settlement is approved by
        independent legal counsel selected by the Company) or paid by them in
        satisfaction of a judgment in any such action, suit or proceeding, except
        a
        judgment based upon a finding of bad faith; provided that upon the institution
        of any such action, suit or proceeding a Committee member shall in writing,
        give
        the Company notice thereof and an opportunity, at its own expense, to handle
        and
        defend the same before such Committee member undertakes to handle and defend
        it
        on his own behalf.

       

      7.
 
        Stock Options may be granted under this Plan form time to time, in substitution
        for stock options held by employees of other corporations who are about to
        become employees of the Company as the result of a merger or consolidation
        of
        the employing corporation with the Company or the acquisition by the Company
        of
        the assets of the employing corporation or the acquisition by the Company
        of
        stock of the employing corporation as a result of which it become a subsidiary
        of the Company. The terms and conditions of such substitute stock options
        so
        granted my vary from the terms and conditions set forth in this Plan to such
        extent as the Board of Director of the Company at the time of grant may deem
        appropriate to conform, in whole or in part, to the provisions of the stock
        options in substitution for which they are granted, but no such variations
        shall
        be such as to affect the status of any such substitute stock options as a
        stock
        option under Section 422A of the Code.

       

      8.
 
        Notwithstanding anything to the contrary in the Plan, if the Committee finds
        by
        a majority vote, after full consideration of the facts presented on behalf
        of
        both the Company the Optionee, that the Optionee has been engaged in fraud,
        embezzlement, theft, commission of a felony or proven dishonesty in the course
        of his association with the Company or any subsidiary corporation which damaged
        the Company or any subsidiary corporation, or for disclosing trade secrets
        of
        the Company or any subsidiary corporation, the Optionee shall forfeit all
        unexercised Stock Options and all exercised NQSO's under which the Company
        has
        not yet delivered the certificates and which have been earlier granted the
        Optionee by the Committee. The decision of the Committee as to the case of
        an
        Optionee's discharge and the damage done to the Company shall be final. No
        decision of the Committee, however, shall affect the finality of the discharge
        of such Optionee by the Company

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      or
        any
        subsidiary corporation in any manner. Further, if Optionee voluntarily
        terminates employment with the Company, the Optionee shall forfeit all
        unexercised stock options.

       

      ARTICLE
        XI

      Written
        Agreement

       

      Each
        Stock
        Option granted hereunder shall be embodied in a written Stock Option Agreement
        which shall be subject to the terms and conditions prescribed above and shall
        be
        signed by the Optionee and by the President or any Vice President of the
        Company, for and in the name and on behalf of the Company. Such Stock Option
        Agreement shall contain such other provisions as the Committee, in its
        discretion shall deem advisable. 

       

      ARTICLE
        XII 

      Effective
        Date 

       

      This
        Plan
        shall become unconditionally effective as of the effective date of approval
        of
        the Plan by the Board of Directors of the Company. No Stock Option may be
        granted later than ten (10) years from the effective date of the Plan; provided,
        however, that the Plan and all outstanding Stock Options shall remain in
        effect
        until such NQSO's have expired or until such options are cancelled.

       

      
        	
                Number
                  of Shares: _______________

              	
                Date
                  of Grant: _______________    
                  

              

      

      

        
          
             

          

          
             

            
              

            

          

          
             

          

        

NONQUALIFIED
        STOCK OPTION AGREEMENT 

       

       

      AGREEMENT
        made this _____ day of __________________, 20____, between
        ____________________________ (the "Optionee"), and AMERICHIP INTERNATIONAL
        INC.,
        a Nevada corporation (the "Company").

       

      1.
 
        Grant of Option. The Company, pursuant to the provisions of the AMERICHIP
        INTERNATIONAL, INC. AMENDED AND RESTATED 2003 Nonqualified Stock Option Plan
        (the "2003 Plan"), set forth as Attachment A hereto, hereby grants to the
        Optionee, subject to the terms and conditions set forth or incorporated herein,
        an Option and Purchase from the Company all or any part of an aggregate of
        _______________ Common Shares, as such Common Shares are now constituted,
        at the
        purchase price of $_______________ per share. The provisions of the 2003
        Plan
        governing the terms and conditions of the Option granted hereby are incorporated
        in full herein by reference. 

       

      2.
 
        Exercise. The Option evidenced hereby shall be exercisable in whole or in
        part
        (but only in multiples of 100 Shares unless such exercise is as to the remaining
        balance of this Option) on or after __________________, 20___ and on or before
        _________________, 20___, provided that the cumulative number of Common Shares
        as to which this Option may be exercised (except as provided in paragraph
        1 of
        Article VI of this 2003 Plan) shall not exceed the following amounts:  

       

      
        	
                Cumulative
                  Number of Shares

              	
                Prior
                  to Date (Not Inclusive of)

              

      

       

      The
        Option
        evidenced hereby shall be exercisable by the deliver to and receipt by the
        Company of (i) a written notice of election to exercise, in the form set
        forth
        in Attachment B hereto, specifying the number of shares to be purchased;
        (ii)
        accompanied by payment of the full purchase price thereof in case or certified
        check payable to the order of the Company, or by fully-paid and nonassessable
        Common Shares of the Company properly endorsed over to the Company, or by
        a
        combination thereof; and, (iii) by return of this Stock Option Agreement
        for
        endorsement of exercise by the Company on Schedule I hereof. In the event
        fully
        paid and nonassessable Common Shares are submitted as whole or partial payment
        for Shares to be purchased hereunder, such Common Shares will be valued at
        their
        Fair Market Value (as defined in the 2003 Plan) on the date such Shares are
        received by the Company and applied to payment of the exercise price.

       

      3.
 
        Transferability. The Option evidenced hereby is NOT assignable or transferable
        by the Optionee other than by the Optionee's will, by the laws of descent
        and
        distribution, as provided in paragraph 9 of Article V of the 2003 Plan. The
        Option shall be exercisable only by the Optionee during his lifetime.

       

      
        	 	 	 	 	 	 	
                AMERICHIP
                  INTERNATIONAL, INC.

              
	 
	 
	 	 	 	 	 	 	
                BY:
                  

              	
                ______________________________
                  

              
	 	 	 	 	 	 	 	
                Marc
                  Walther, Chief Executive Officer

              
	
                ATTEST:
                  

              
	 
	
                ________________________________________
                  

              
	
                Secretary
                  

              

      

      

        
          
             

          

          
             

            
              

            

          

          
             

          

        

      

       

      Optionee
        hereby acknowledges receipt of a copy of the 2003 Plan, attached hereto and
        accepts this Option subject to each and every term and provision of such
        Plan.
        Optionee hereby agrees to accept as binding, conclusive and final, all decisions
        or interpretations of the Compensation Committee of the Board of Directors
        administering the 2003 Plan on any questions arising under such Plan. Optionee
        recognizes that if Optionee's employment with the Company or any subsidiary
        thereof shall be terminated with cause, or by the Optionee, all of the
        Optionee's rights hereunder shall thereupon terminate; and that, pursuant
        to
        paragraph 10 of Article V of the 2003 Plan, this Option may not be exercised
        while there is outstanding to Optionee any unexercised Stock Option, granted
        to
        Optionee before the date of grant of this Option, to purchase Common Shares
        of
        the Company or any parent or subsidiary thereof. 

       

      Dated:
        _________________________________ 

       

      
        	 	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                ___________________________________
                  

              
	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                Optionee
                  

              
	 	 	 	 	 	 	 
	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                ___________________________________
                  

              
	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                Type
                  or Print Name 

              
	 	 	 	 	 	 	 
	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                ___________________________________

              
	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                Address
                  

              
	 	 	 	 	 	 	 
	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                ___________________________________
                  

              
	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                Social
                  Security No.

              

      

       

      Date:

       

      Secretary,

      AMERICHIP
        INTERNATIONAL, INC. 

      12933
        W.
        Eight Mile Road

      Detroit,
        Michigan 48235

       

      Dear
        Sir:

       

      In
        accordance with paragraph 2 of the Nonqualified Stock Option Agreement
        evidencing the Option granted to me on _____________________ under the AMERICHIP
        INTERNATIONAL, INC. AMENDED AND RESTATED 2003 Nonqualified Stock Option Plan,
        I
        hereby elect to exercise this Option to the extent of __________________
        Common
        Shares. 

       

      Enclosed
        are (i) Certificate(s) No.(s) ____________________ representing fully-paid
        common shares of AMERICHIP INTERNATIONAL, INC. endorsed to the Company with
        signature guaranteed, and/or a certified check payable to the order of AMERICHIP
        INTERNATIONAL, INC. in the amount of $_______________ as the balance of the
        purchase price of $______________ for the Shares which I have elected to
        purchase and (ii) the original Stock Option Agreement for endorsement by
        the
        Company as to exercise on Schedule I thereof. I acknowledge that the Common
        Shares (if any) submitted as part payment for the exercise price due hereunder
        will be valued by the Company at their Fair Market Value (as defined in the
        2003
        Plan) on the date this Option 

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      exercise
        is effected by the Company. In the event I hereafter sell any Common Shares
        issued pursuant to this option exercise within one year from the date of
        exercise or within two years after the date of grant of this Option, I agree
        to
        notify the Company promptly of the amount of taxable compensation realized
        by me
        by reason of such sale for federal income tax purposes. 

       

      When
        the
        certificate for Common Shares which I have elected to purchase has been issued,
        please deliver it to me, along with my endorsed Stock Option Agreement in
        the
        event there remains an unexercised balance of Shares under the Option, at
        the
        following address:

       

      Include
        Optionee's address here.                
    

       

      
        	
                 

                 

              	
                 

                 

              	
                 

                 

              	
                 

                 

              	
                 

                 

              	
                 

                 

              	
                 

                 

              	
                 

                __________________________________
                  

              
	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                Signature
                  of Optionee 

              
	 	 	 	 	 	 	 	 
	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              	
                __________________________________
                  

              
	
                 

              	
                 

              	
                 

              	
                 

              	
                 

                 

              	
                 

              	
                 

              	
                Type
                  or Print Name

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}]]