Document:

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                                                                    Exhibit 10.6

                              EMPLOYMENT AGREEMENT

     THIS AGREEMENT is made and entered into as of JUNE 1, 2002 by and between
MAGUIRE INSURANCE AGENCY, Inc., a Pennsylvania corporation ("Employer"), and
CRAIG KELLER ("Employee") for the purposes herein stated.

                             Background of Agreement

     Employee desires to continue in the employ of the Employer, and desires
certain protections and benefits; and

     Employee and the Employer deem it to be in their respective best interests
to enter into an agreement providing for compensation and benefits for Employee
pursuant to the terms stated in this Agreement; and

     The Employer desires to place reasonable restraints upon Employee's ability
to compete with the Employer during a specified period immediately following
Employee's termination from employment;

     Accordingly, in consideration of the mutual promises and agreements
contained herein, the parties hereto agree to the following:

     1. EMPLOYMENT. The Employer agrees to continue Employee in its employ, and
Employee agrees to remain in the employ of the Employer, for the Term of this
Agreement, subject to Sections 6 and below.

     2. DEFINITIONS. The following terms when used herein shall have the
meanings given below:

          (a) "AFFILIATE" means any party controlled by, under the control of,
or under common control with, Employer or PCHC.

          (b) "AGREEMENT AND GENERAL RELEASE" means a general release of claims
against the Employer in a form acceptable to the Employer.

          (c) "BASE COMPENSATION" means the annual base salary of Employee,
exclusive of any bonus, insurance, or other fringe benefits and perquisites.

          (d) "BOARD" means the Board of Directors of PCHC.

          (e) "CAUSE" means commission of any of the following listed conduct by
Employee: a felony or any crime involving moral turpitude (whether or not
related to Employee's employment), incompetence or gross negligence,
unsatisfactory performance of a substantial nature, drug or alcohol use which
interferes with Employee's job performance, insubordination, willful misconduct,
violation of any express directive or regulation established by the Employer
from time to time regarding the conduct of its business, misrepresentations by

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Employee related to this Agreement, any violation by Employee of the terms and
conditions of this Agreement not cured within ten days after written notice
thereof is given by the Employer to Employee, acceptance of employment with
another company (other than employment with a Successor or a purchaser of assets
from the Employer), and/or performing work for another company, as an employee,
consultant or in any other capacity, while still an employee of the Employer and
any other act, omission or circumstance which, under applicable law, would
result in a termination by the Employer of Employee's employment hereunder to be
deemed to be a termination for cause.

          (f) "EFFECTIVE DATE" means the date upon which this Agreement becomes
effective, as set forth in Section 4 below.

          (g) "GOOD REASON" means either of the following:

               (i) A change in Employee's position of authority in a manner that
materially reduces the responsibility of Employee's current position of (i),
provided, however, the fact that there may be additional executives in the
reporting structure above Employee will not be deemed to materially reduce the
responsibility of Employee's position.

               (ii) A reduction in Employee's Base Compensation.

          (h) "HOSTILE CHANGE IN CONTROL" mean individuals who are Continuing
Directors cease to constitute a majority of the members of the Board
("Continuing Directors" for this purpose being the members of the Board on the
date of this Agreement, provided that any person becoming a member of the Board
subsequent to such date whose election or nomination for election was supported
by two-thirds of those directors who were Continuing Directors at that time of
the election or nomination shall be deemed to be c Continuing Director).

               (i) "PCHC" means Philadelphia Consolidated Holding Corp., a
Pennsylvania corporation.

          (j) "SUCCESSORS" means any entity that acquires at least fifty (50)
percent of the shares of outstanding stock, and/or fifty percent (50%) of the
assets, of the Employer or PCHC (whether direct or indirect, by purchase,
merger, consolidation or otherwise).

          (k) "TERM" shall have the meaning set forth in Section 4 below.

     3. POSITION AND RESPONSIBILITIES.

          (a) During the Term of this Agreement, Employee agrees to serve the
Employer as SENIOR VICE PRESIDENT AND CFO. This in no way inhibits him from
being promoted to another position during the Term of this Agreement, or
assigned different duties, consistent with Employee's status and responsibility,
which changes are in the sole discretion of the Employer.

          (b) Throughout the Term of this Agreement, Employee shall devote his
entire working time, energy, attention, skill and best efforts to the affairs of
the Employer and its

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Affiliates and to the performance of his duties hereunder in a manner which will
faithfully and diligently further the business and interests of the Employer.

     4. TERM. This Agreement shall be effective on JUNE 1, 2002 (the "Effective
Date") and shall expire in the absence of a Hostile Change in Control on the
fifth anniversary of such date, unless extended by agreement of Employee and the
Employer. In the event of a Hostile Change in Control, this Agreement shall be
automatically extended for a period of three years, commencing upon the
expiration date set forth in the immediately preceding sentence. Notwithstanding
the foregoing, Employee and the Employer agree that the provisions of Section 7
shall remain in effect and enforceable in accordance with its terms following
the expiration of this Agreement, except as otherwise provided in such Section
7. The applicable period referred to above is referred to herein as the "Term"
of this Agreement.

     5. COMPENSATION AND BENEFITS. During the Term of this Agreement, Employee
shall be eligible for the following, in return for all services rendered by
Employee to the Employer during the period of employment, subject to the
provisions of Section 6, as applicable:

          (a) BASE COMPENSATION. Upon the effective date of this Agreement,
Employee shall receive Base Compensation at the annual rate of TWO HUNDRED
THIRTY SIX THOUSAND FIVE HUNDRED Dollars ($236,500), subject to periodic reviews
and possible increases in the sole discretion of the Employer. Employee's Base
Compensation shall be payable in accordance with the Employer's regular payroll
practices in effect from time to time.

          (b) BENEFITS. Employee shall be entitled to all group health,
disability, life insurance and pension benefits as are made available to
employees of the Company generally as such benefit programs may be amended from
time to time. Benefits due under any Bonus Plan or Stock Option Plan will be
paid based upon the Agreements signed specific to those plans.

          (c) BUSINESS EXPENSES. Employee shall be reimbursed reasonable and
necessary expenses related to Employee's employment by the Employer in
accordance with, and subject to, the Employer's regular policies from time to
time in effect regarding reimbursement of expenses and the documentation
required.

     6. TERMINATION OF EMPLOYMENT. The following provisions shall govern in the
event that Employee's employment is terminated by the Employer or by Employee
during the term of this Agreement, except as provided in Section 8, if
applicable:

          (a) Discharge Without Cause or Resignation for Good Reason. Employee
shall receive from the Employer, provided (unless waived by the Employer)
Employee executes (without subsequent revocation) a General Release (except that
Employee shall not be obligated to do so following a Hostile Change in Control),
in the event that Employee either: (A) is discharged without Cause and for
reasons unrelated to his disability or death; or (B) resigns from the Employer
for Good Reason within twelve (12) weeks of the occurrence of the event upon
which Employee relies for claiming that his resignation is for Good Reason:

               His Base Compensation for the lesser of (A) 36 months or (B) the
remainder of the Terms of this Agreement, but in no event less than 6 months,
paid in accordance with the Employer's regular payroll practices then in effect.

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          (b) Discharge With Cause, Resignation Without Good Reason, Discharge
in Connection With Disability or Death.

               (i)  Employee shall not be eligible for any payments or benefits
                    for the period subsequent to his separation in any of the
                    following circumstances: (A) he is discharged with Cause;
                    (B) he resigns without Good Reason, or more than twelve (12)
                    weeks following the occurrence of the event upon which
                    Employee relies for claiming that his resignation was for
                    Good Reason; (C) he is discharged due to his inability or
                    failure to perform satisfactorily the essential functions of
                    his position for six (6) months due to disability; or (D)
                    his death.

               (ii) Employee shall receive all Base Compensation for work
                    performed and benefits applicable to the period prior to his
                    separation from the Employer (including any earned and not
                    paid bonus for the prior year and any Base Compensation
                    and/or benefits for which he is entitled in accordance with
                    the Employer's compensation and disability policies, if
                    applicable, then in effect). In the event of his disability
                    or death, Employee shall be eligible, in addition, for any
                    disability or life insurance payments to which he or his
                    estate or beneficiaries may be entitled pursuant to the
                    applicable insurance documents relating to any group
                    disability or life insurance plans in which he participated
                    prior to his separation.

          (c) Notice of Termination. Any termination by the Employer or by
Employee shall be communicated by written Notice of Termination to the other
party given in accordance with Section 16 below. Such Notice of Termination
shall indicate the specific termination provision(s) in this Agreement relied
upon and specify the effective date of the termination if other than the date
such Notice of Termination is given (which effective date shall be not more than
thirty (30) calendar days thereafter).

     7. RESTRICTIVE COVENANTS AND CONFIDENTIALITY.

          (a) During Employee's employment with the Employer and for two (2)
years following Employee's separation from the Employer for any reason (whether
initiated by the Employer or Employee), Employee shall not directly or
indirectly either: (A) with respect to a Competitive Business (defined above),
solicit, divert or appropriate, or attempt to solicit, divert or appropriate,
any customer, distributor or supplier, or any potential customer, or supplier of
the Employer; or (B) solicit or entice, or attempt to solicit or entice, any of
the Employer's employees, consultants, directors or officers to terminate
her/his employment with the Employer, or join with any individual who is or was
within the prior six (6) months an employee, consultant, director or officer of
the Employer, in any direct or indirect capacity, or to hire, or commit to hire,
as an employee or consultant any individual who is or was within the prior six
(6) months an employee, consultant, officer or director of the Employer.

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          (b) During Employee's employment with the Employer and at all times
thereafter, Employee shall not use for his personal benefit, or disclose,
communicate or divulge to, or use for the direct or indirect benefit of, any
person, firm, association or company other than the Employer, any confidential
information of the Employer which Employee acquires in the course of his
employment, which is not otherwise lawfully known by and readily available to
the general public. This confidential information includes, but is not limited
to: business, development, marketing, legal and accounting methods, policies,
plans, procedures, strategies and techniques; research and development projects
and results; trade secrets or other knowledge or processes of or developed by
the Employer; names and addresses of employees, suppliers and customers; and any
data on or relating to past, present or prospective customers, including
customer lists. Employee agrees that such information is confidential and
constitutes the exclusive property of the Employer, and Employee agrees that,
immediately upon Employee's termination, whether by Employee, or by the
Employer, Employee will deliver to the Employer, all correspondence, documents,
books, records, lists and other writings relating to the Employer's business,
retaining no copies.

          (c) The term "Employer", as used in this Section 7 and in Section 11,
shall include as well all Affiliates of Employer and PCHC.

          (d) Employee acknowledges and agrees that the provisions of this
Section 7 are reasonable with respect to their duration, scope and geographical
area. In particular, Employee acknowledges that the geographic scope of the
Employer's business makes reasonable the geographic restrictions of this
Agreement. Employee agrees that his general executive skills and abilities are
applicable outside of the Competitive Business and that he will therefore not be
unduly restricted by this Agreement. If, at the time of enforcement of any of
the provisions of this Section 7, a court holds that the restrictions therein
exceed those allowed by applicable law, then such court will be requested by the
Employer, Employee and all other relevant parties to enforce the provisions in
this Section 7 to the broadest extent possible under applicable law and this
Section 7 shall be deemed to have been so modified.

          (e) In the event of a breach or threatened breach of the provisions of
this Section 7, the Employer shall be entitled to an injunction restraining such
breach, but nothing herein shall be construed as prohibiting the Employer from
pursuing any other remedy available to them for such breach or threatened
breach, including, without limitation, an action at law for damages.

          (f) Notwithstanding anything to the contrary contained in this Section
7 or any other provisions of the Agreement, Employee shall not be bound by any
of the provisions of Section 7(a) following a Hostile Change in Control.

     8. HOSTILE CHANGE IN CONTROL. In the event of a Hostile Change in Control:

          (a) Section 6 shall apply, except as set forth in Section 8(b) below.

          (b) Enhanced Severance Package in the Event of Hostile Change in
Control. In the event that Employee, at any time after a Hostile Change in
Control, is discharged without Cause and for reasons unrelated to his disability
or death, or resigns for Good Reason within

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twelve (12) weeks of the occurrence of the event upon which Employee relies for
claiming that his resignation is for Good Reason:

               (i) The period specified in Section 6(a)(i) above during which
Employee shall receive his Base Compensation shall be increased to 48 months
from 36 months.

               (ii) The maximum period during which Employee and his eligible,
previously enrolled dependents shall be eligible for Employer-paid group medical
and dental insurance under Section 6(a)(iii) above shall be increased to 36
months from twelve (12) months.

     9. INELIGIBILITY FOR PARTICIPATION IN OTHER EMPLOYER SEVERANCE PLANS. In
the event that Employee becomes entitled to the severance benefits set forth in
Section 6 above, Employee shall be ineligible for (and deemed to have waived his
right to receive) payments under any other severance plan, program or
arrangement maintained by the Employer.

     10. ARBITRATION. Except as set forth in Section 10(f), all disputes arising
under this Agreement or relating to Employee's employment or termination of
employment, including but not limited to statutory claims for violation of Title
VII of the Civil Rights Act, the Age Discrimination in Employment Act, the
Americans with Disabilities Act, the Family Medical Leave Act and ERISA as well
as state laws governing discrimination shall be exclusively resolved in
arbitration in accordance with the following:

          (a) The Rules for the Resolution of Employment Disputes ("Rules"),
then in effect, of the American Arbitration Association ("AAA") shall govern,
except that Employee and the Employer may mutually agree to utilize another
process for selection of the Arbitrator.

          (b) The Arbitrator, in cooperation with Employee and the Employer,
shall set the date, time and place of the hearing in Philadelphia, Pennsylvania.

          (c) The Arbitrator shall have all of the power of a court of competent
jurisdiction for hearing the particular claim, including the power to order
discovery, as set forth in the AAA's rules, and to grant such remedies as a
court would have authority to grant.

          (d) The decision of the Arbitrator shall be in writing and shall set
forth the findings and conclusions upon which the decision is based. It shall be
final and binding, and may be enforced under the terms of the Federal
Arbitration Act (9 U.S.C. Section 1 et seq), but may be set aside or modified by
a reviewing court in the event of a material error of law.

          (e) The Employer and Employee shall share the cost of the Arbitrator's
fees but each shall bear his or its, as applicable, attorneys' fees, expenses
and costs and its respective filing fees charged by the AAA; provided, however,
that the Arbitrator shall have the power to award such fees, expenses and costs
to the prevailing party in accordance with the law and to require the Employer
at the beginning of the proceedings to fully or partially reimburse to employee
the filing fee in the event Employee can demonstrate that the amount of the fee
is an unreasonable impediment to adjudication of his claims in arbitration.

          (f) This Section 10 shall not apply to any action by the Employer to
enforce Section 7 of this Agreement.

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<PAGE>

     11. EMPLOYER PROPERTY. All Employer information, including without
limitation, data processing reports, analyses, invoices, and/or any other
materials or data of any kind furnished to Employee by the Employer or developed
by Employee on behalf of the Employer, or at the Employer's direction or for the
Employer's use, or otherwise in connection with Employee's employment hereunder,
are and shall remain the sole and confidential property of the Employer, except
to the extent such information has been publicly disclosed voluntarily by the
Employer. If the Employer requests the return of such materials, Employee shall
immediately deliver them, retaining no copies.

     12. INCOME TAX WITHHOLDING. The Employer may withhold from any payments
made under this Agreement all Federal, State, City or other taxes and
withholdings as shall be required pursuant to any law or governmental regulation
or ruling.

     13. NO RESTRICTIONS ON EMPLOYEE'S EMPLOYMENT BY EMPLOYER. Employee
represents to Employer that: (i) there are no restrictions, agreements or
understandings whatsoever to which Employee is a party and no laws or
regulations of which he is aware which would or may prevent or make unlawful his
employment by the Employer; (ii) his execution of this Agreement and his
employment hereunder shall not constitute a breach of any contract, agreement or
understanding, oral or written, to which he is a party or by which he is bound;
and (iii) he is free and able to execute this Agreement and to enter into
employment with the Employer.

     14. ENTIRE UNDERSTANDING. This Agreement contains the entire understanding
between the Employer, and Employee superceding all others with respect to the
subject matter hereof, and there are no other agreements, understandings,
representations or warranties among the parties.

     15. SEVERABILITY. If any term or other provision of this Agreement is
invalid, illegal or incapable of being enforced by any rule of law of law or
public policy, all other conditions and provisions of this Agreement shall
nevertheless remain in full force and effect. Upon such determination that any
term or other provision is invalid, illegal or incapable of being enforced, the
parties hereto shall negotiate in good faith to modify this Agreement so as to
effect the original intent of the parties as closely as possible in an
acceptable manner to the end that the transactions contemplated hereby are
fulfilled to the extent possible.

     16. NOTICES. All notices hereunder shall be sufficient upon receipt for all
purposes hereunder if in writing and delivered personally, sent by documented
overnight delivery service or, to the extent receipt is confirmed, telecopy,
telefax or other documented transmission service to the appropriate address or
number as set forth below:

          (a) If to the Employee:

              Craig Keller
              29 Woodcroft Road
              Havertown, PA 19083

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or at such other address as Employee may designate by written notice to the
Employer as specified below.

          (b) If to the Employer:

              Philadelphia Consolidated Holding Corp.
              One Bala Plaza
              Bala Cynwyd, PA
              Attention:  James J. Maguire, Jr.

or at such other address and to the attention of such other person as the
Employer may designate by written notice to Employee as specified above.

     17. SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon and inure
to the benefit of Employee, Employee's heirs and legal representatives, and to
the Employer, and its Successors and assigns. PCHC and its Affiliates are third
party beneficiaries of this Agreement.

     18. NO ASSIGNMENT BY EMPLOYEE. This Agreement is personal to Employee, and
Employee may not assign or delegate any of Employee's rights or obligations
hereunder without first obtaining the express written consent of the Employer.

     19. COUNTERPARTS AND PREREQUISITES TO BINDING EFFECT OF AGREEMENT. This
Agreement may be executed in one or more counterparts, all of which shall be
considered one and the same agreement, and shall be effective when one or more
counterparts have been signed by each of the parties and delivered to the other
party.

     20. AMENDMENTS AND WAIVERS. This Agreement may not be modified or amended
except by an instrument or instruments in writing signed by the party against
whom enforcement of any modification or amendment is sought. A party hereto may,
only by an instrument in writing, waive compliance by the other party hereto
with any term or provision of the Agreement on the part of such other party
hereto to be performed or complied with. The waiver by any party hereto of a
breach of any term or provision of the Agreement shall not be construed as a
waiver of any subsequent breach.

     21. GOVERNING LAW. This Agreement shall be governed by and construed in
accordance with the laws of the Commonwealth of Pennsylvania without reference
to the choice of law principles thereof.

     22. JURISDICTION AND VENUE. The courts of Montgomery County, Pennsylvania
and the United States District Court for the Eastern District of Pennsylvania
shall have exclusive jurisdiction and venue with respect to any action to
enforce this Agreement which is not subject to arbitration.

     IN WITNESS WHEREOF, the parties hereto, intending to be legally bound, have
duly executed and delivered, in Pennsylvania, this Agreement.

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<PAGE>

                                       MAGUIRE INSURANCE AGENCY, INC.

                                       By:    /s/ James J. Maguire
                                           -----------------------------------
                                        Title:  CEO

                                       I UNDERSTAND AND AGREE TO BE BOUND

                                         /s/ Craig P. Keller            8/7/02
                                       ---------------------------------------
                                       Employee                          DATE

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                                                                     Exhibit 4.1

                            364-DAY CREDIT AGREEMENT

                            Dated as of May 29, 2002

                  YORK INTERNATIONAL CORPORATION, a Delaware corporation (the
"Borrower"), the banks, financial institutions and other institutional lenders
(the "Initial Lenders") listed on the signature pages hereof, CITIBANK, N.A.
("Citibank"), as the administrative agent (the "Agent") for the Lenders (as
hereinafter defined), JPMORGAN CHASE BANK, as syndication agent, BANK OF
TOKYO-MITSUBISHI TRUST COMPANY, FLEET NATIONAL BANK and NORDEA BANK FINLAND PLC,
as documentation agents, and JP MORGAN SECURITIES, INC. and SALOMON SMITH BARNEY
INC., as joint lead arrangers and joint book managers, agree as follows:

                                    ARTICLE I

                        DEFINITIONS AND ACCOUNTING TERMS

                  SECTION 1.01. Certain Defined Terms. As used in this
Agreement, the following terms shall have the following meanings (such meanings
to be equally applicable to both the singular and plural forms of the terms
defined):

                  "Advance" means a Revolving Credit Advance or a Competitive
         Bid Advance.

                  "Affiliate" means, as to any Person, any other Person that,
         directly or indirectly, controls, is controlled by or is under common
         control with such Person or is a director or officer of such Person.
         For purposes of this definition, the term "control" (including the
         terms "controlling", "controlled by" and "under common control with")
         of a Person means the possession, direct or indirect, of the power to
         vote 20% or more of the Voting Stock of such Person or to direct or
         cause the direction of the management and policies of such Person,
         whether through the ownership of Voting Stock, by contract or
         otherwise.

                  "Agent's Account" means the account of the Agent maintained by
         the Agent at Citibank at its office at 399 Park Avenue, New York, New
         York 10043, Account No. 36852248, Attention: Bank Loan Syndications.

                  "Applicable Lending Office" means, with respect to each
         Lender, such Lender's Domestic Lending Office in the case of a Base
         Rate Advance and such Lender's Eurodollar Lending Office in the case of
         a Eurodollar Rate Advance and, in the case of a Competitive Bid
         Advance, the office of such Lender notified by such Lender to the Agent
         as its Applicable Lending Office with respect to such Competitive Bid
         Advance.

                  "Applicable Margin" means, as of any date (a) for Base Rate
         Advances, 0.00% per annum and (b) for Eurodollar Rate Advances, a
         percentage per annum determined by reference to the Public Debt Rating
         in effect on such date as set forth below:

<TABLE>
<CAPTION>
                           Applicable Margin for        Applicable Margin for
                         Eurodollar Rate Advances    Eurodollar Rate Advances On
  Public Debt Rating      Prior to the Term Loan       and After the Term Loan
     S&P/Moody's              Conversion Date              Conversion Date
     -----------              ---------------              ---------------
<S>                      <C>                         <C>
Level 1
A- or A3 or above                 0.420%                       0.850%
Level 2
BBB+ and Baa1                     0.660%                       1.100%
</TABLE>
<PAGE>
<TABLE>
<S>                      <C>                         <C>
Level 3
BBB+ or Baa1                      0.775%                       1.250%
Level 4
BBB or Baa2                       1.075%                       1.625%
Level 5
Lower than Level 4                1.300%                       2.250%
</TABLE>

                  "Applicable Percentage" means, as of any date, a percentage
         per annum determined by reference to the Public Debt Rating in effect
         on such date as set forth below:

<TABLE>
<CAPTION>
   Public Debt Rating         Applicable
       S&P/Moody's            Percentage
       -----------            ----------
<S>                           <C>
Level 1
A- or A3 or above               0.080%
Level 2
BBB+ and Baa1                   0.090%
Level 3
BBB+ or Baa1                    0.100%
Level 4
BBB or Baa2                     0.125%
Level 5
Lower than Level 4              0.200%
</TABLE>

                  "Applicable Utilization Fee" means, as of any date prior to
         the Term Loan Conversion Date that Usage exceeds 25% of the aggregate
         Revolving Credit Commitments, a percentage per annum determined by
         reference to the Public Debt Rating in effect on such date as set forth
         below:

<TABLE>
<CAPTION>
  Public Debt Rating            Applicable
      S&P/Moody's            Utilization Fee
      -----------            ---------------
<S>                          <C>
Level 1
A- or A3 or above                 0.100%
Level 2
BBB+ and Baa1                     0.100%
Level 3
BBB+ or Baa1                      0.125%
Level 4
BBB or Baa2                       0.175%
Level 5
Lower than Level 4                0.250%
</TABLE>

                  "Assignment and Acceptance" means an assignment and acceptance
         entered into by a Lender and an Eligible Assignee, and accepted by the
         Agent, in substantially the form of Exhibit C hereto.

                  "Base Rate" means a fluctuating interest rate per annum in
         effect from time to time, which rate per annum shall at all times be
         equal to the highest of:

                           (a) the rate of interest announced publicly by
                  Citibank in New York, New York, from time to time, as
                  Citibank's base rate;

                                       2
<PAGE>
                           (b) the sum (adjusted to the nearest 1/4 of 1% or, if
                  there is no nearest 1/4 of 1%, to the next higher 1/4 of 1%)
                  of (i) -1/2 of 1% per annum, plus (ii) the rate obtained by
                  dividing (A) the latest three-week moving average of secondary
                  market morning offering rates in the United States for
                  three-month certificates of deposit of major United States
                  money market banks, such three-week moving average (adjusted
                  to the basis of a year of 360 days) being determined weekly on
                  each Monday (or, if such day is not a Business Day, on the
                  next succeeding Business Day) for the three-week period ending
                  on the previous Friday by Citibank on the basis of such rates
                  reported by certificate of deposit dealers to and published by
                  the Federal Reserve Bank of New York or, if such publication
                  shall be suspended or terminated, on the basis of quotations
                  for such rates received by Citibank from three New York
                  certificate of deposit dealers of recognized standing selected
                  by Citibank, by (B) a percentage equal to 100% minus the
                  average of the daily percentages specified during such
                  three-week period by the Board of Governors of the Federal
                  Reserve System (or any successor) for determining the maximum
                  reserve requirement (including, but not limited to, any
                  emergency, supplemental or other marginal reserve requirement)
                  for Citibank with respect to liabilities consisting of or
                  including (among other liabilities) three-month U.S. dollar
                  non-personal time deposits in the United States, plus (iii)
                  the average during such three-week period of the annual
                  assessment rates estimated by Citibank for determining the
                  then current annual assessment payable by Citibank to the
                  Federal Deposit Insurance Corporation (or any successor) for
                  insuring U.S. dollar deposits of Citibank in the United
                  States; and

                           (c) 1/2 of one percent per annum above the Federal
                  Funds Rate.

                  "Base Rate Advance" means a Revolving Credit Advance that
         bears interest as provided in Section 2.07(a)(i).

                  "Borrowing" means a Revolving Credit Borrowing or a
         Competitive Bid Borrowing.

                  "Business Day" means a day of the year on which banks are not
         required or authorized by law to close in New York City and, if the
         applicable Business Day relates to any Eurodollar Rate Advances or LIBO
         Rate Advances, on which dealings are carried on in the London interbank
         market.

                  "Competitive Bid Advance" means an advance by a Lender to the
         Borrower as part of a Competitive Bid Borrowing resulting from the
         competitive bidding procedure described in Section 2.03 and refers to a
         Fixed Rate Advance or a LIBO Rate Advance.

                  "Competitive Bid Borrowing" means a borrowing consisting of
         simultaneous Competitive Bid Advances from each of the Lenders whose
         offer to make one or more Competitive Bid Advances as part of such
         borrowing has been accepted under the competitive bidding procedure
         described in Section 2.03.

                  "Competitive Bid Note" means a promissory note of the Borrower
         payable to the order of any Lender, in substantially the form of
         Exhibit A-2 hereto, evidencing the indebtedness of the Borrower to such
         Lender resulting from a Competitive Bid Advance made by such Lender.

                  "Confidential Information" means information that the Borrower
         furnishes to the Agent or any Lender in a writing designated as
         confidential, but does not include any such information that is or
         becomes generally available to the public or that is or becomes
         available to the Agent or such Lender from a source other than the
         Borrower.

                  "Consolidated" refers to the consolidation of accounts in
         accordance with GAAP.

                  "Convert", "Conversion" and "Converted" each refers to a
         conversion of Revolving Credit Advances of one Type into Revolving
         Credit Advances of the other Type pursuant to Section 2.08 or 2.09.

                                       3
<PAGE>
                  "Covenant Debt" means the sum of, without duplication, (a) all
         items that, in accordance with GAAP, would be classified as
         indebtedness on a Consolidated balance sheet of the Borrower and its
         Subsidiaries, plus (b) Debt of the Borrower and its Subsidiaries of the
         type described in clause (f) of the definition of "Debt" and (c) the
         portion of any item that, in accordance with GAAP, would be classified
         as indebtedness on a Consolidated balance sheet of any Person that is
         guaranteed by the Borrower and its Subsidiaries.

                  "Debt" of any Person means, without duplication, (a) all
         indebtedness of such Person for borrowed money, (b) all obligations of
         such Person for the deferred purchase price of property or services
         (other than trade payables incurred in the ordinary course of such
         Person's business), (c) all obligations of such Person evidenced by
         notes, bonds, debentures or other similar instruments, (d) all
         obligations of such Person created or arising under any conditional
         sale or other title retention agreement with respect to property
         acquired by such Person (even though the rights and remedies of the
         seller or lender under such agreement in the event of default are
         limited to repossession or sale of such property), (e) all obligations
         of such Person as lessee under leases that have been or should be, in
         accordance with GAAP, recorded as capital leases, (f) the portion of
         the cash purchase price related to the purchase of accounts receivable
         from such Person (including without limitation, in the case of the
         Borrower, the cash proceeds received from time to time from the sale of
         the Borrower's accounts receivable) that shall not have been recovered
         by the purchaser thereof (excluding up to $75,000,000 of receivables
         owing by foreign obligors that are sold by the Borrower and its
         Subsidiaries), (g) all obligations, contingent or otherwise, of such
         Person in respect of acceptances, letters of credit or similar
         extensions of credit, (h) all obligations of such Person in respect of
         Hedge Agreements, (i) all Debt of others referred to in clauses (a)
         through (h) above or clause (j) below and other payment obligations
         guaranteed directly or indirectly in any manner by such Person, or in
         effect guaranteed directly or indirectly by such Person through an
         agreement (1) to pay or purchase such Debt or to advance or supply
         funds for the payment or purchase of such Debt, (2) to purchase, sell
         or lease (as lessee or lessor) property, or to purchase or sell
         services, primarily for the purpose of enabling the debtor to make
         payment of such Debt or to assure the holder of such Debt against loss,
         (3) to supply funds to or in any other manner invest in the debtor
         (including any agreement to pay for property or services irrespective
         of whether such property is received or such services are rendered) or
         (4) otherwise to assure a creditor against loss, and (j) all Debt
         referred to in clauses (a) through (i) above secured by (or for which
         the holder of such Debt has an existing right, contingent or otherwise,
         to be secured by) any Lien on property (including, without limitation,
         accounts and contract rights) owned by such Person, even though such
         Person has not assumed or become liable for the payment of such Debt,
         the amount of such Debt being the lesser of the amount of the
         obligations secured by such Lien and the fair market value of the
         assets subject to such Lien.

                  "Default" means any Event of Default or any event that would
         constitute an Event of Default but for the requirement that notice be
         given or time elapse or both.

                  "Domestic Lending Office" means, with respect to any Lender,
         the office of such Lender specified as its "Domestic Lending Office"
         opposite its name on Schedule I hereto or in the Assignment and
         Acceptance pursuant to which it became a Lender, or such other office
         of such Lender as such Lender may from time to time specify to the
         Borrower and the Agent.

                  "EBITDA" means, for any Person for any period, net income (or
         net loss) plus the sum of (a) interest expense, (b) income tax expense,
         (c) depreciation expense, (d) amortization expense and (e) any
         extraordinary or non-recurring losses (inclusive of losses related to
         Statement of Financial Accounting Standards No. 142 and No. 144 in an
         aggregate amount not to exceed $350,000,000) minus any extraordinary or
         non-recurring gains, for such period in each case determined for such
         Person in accordance with GAAP.

                  "Effective Date" has the meaning specified in Section 3.01.

                                       4
<PAGE>
                  "Eligible Assignee" means (i) a Lender; (ii) an Affiliate of a
         Lender; or (iii) any other Person approved by the Agent and, unless an
         Event of Default has occurred and is continuing at the time any
         assignment is effected in accordance with Section 8.07, the Borrower,
         such approval not to be unreasonably withheld or delayed; provided,
         however, that neither the Borrower nor an Affiliate of the Borrower
         shall qualify as an Eligible Assignee.

                  "Environmental Action" means any action, suit, demand, demand
         letter, claim, notice of non-compliance or violation, notice of
         liability or potential liability, investigation, proceeding, consent
         order or consent agreement relating in any way to any Environmental
         Law, Environmental Permit or Hazardous Materials or arising from
         alleged injury or threat of injury to health, safety or the
         environment, including, without limitation, (a) by any governmental or
         regulatory authority for enforcement, cleanup, removal, response,
         remedial or other actions or damages and (b) by any governmental or
         regulatory authority or any third party for damages, contribution,
         indemnification, cost recovery, compensation or injunctive relief.

                  "Environmental Law" means any federal, state, local or foreign
         statute, law, ordinance, rule, regulation, code, order, judgment,
         decree or judicial or agency interpretation, policy or guidance
         relating to pollution or protection of the environment, natural
         resources or, to the extent related to exposure to Hazardous Materials,
         health or safety, including, without limitation, those relating to the
         use, handling, transportation, treatment, storage, disposal, release or
         discharge of Hazardous Materials.

                  "Environmental Permit" means any permit, approval,
         identification number, license or other authorization required under
         any Environmental Law.

                  "ERISA" means the Employee Retirement Income Security Act of
         1974, as amended from time to time, and the regulations promulgated and
         rulings issued thereunder.

                  "ERISA Affiliate" means any Person that for purposes of Title
         IV of ERISA is a member of the Borrower's controlled group, or under
         common control with the Borrower, within the meaning of Section 414 of
         the Internal Revenue Code.

                  "ERISA Event" means (a) (i) the occurrence of a reportable
         event, within the meaning of Section 4043 of ERISA, with respect to any
         Plan unless the 30-day notice requirement with respect to such event
         has been waived by the PBGC, or (ii) the requirements of subsection (1)
         of Section 4043(b) of ERISA (without regard to subsection (2) of such
         Section) are met with respect to a contributing sponsor, as defined in
         Section 4001(a)(13) of ERISA, of a Plan, and an event described in
         paragraph (9), (10), (11), (12) or (13) of Section 4043(c) of ERISA is
         reasonably expected to occur with respect to such Plan within the
         following 30 days; (b) the application for a minimum funding waiver
         with respect to a Plan; (c) the provision by the administrator of any
         Plan of a notice of intent to terminate such Plan pursuant to Section
         4041(a)(2) of ERISA (including any such notice with respect to a plan
         amendment referred to in Section 4041(e) of ERISA); (d) the cessation
         of operations at a facility of the Borrower or any ERISA Affiliate in
         the circumstances described in Section 4062(e) of ERISA; (e) the
         withdrawal by the Borrower or any ERISA Affiliate from a Multiple
         Employer Plan during a plan year for which it was a substantial
         employer, as defined in Section 4001(a)(2) of ERISA; (f) the conditions
         for the imposition of a lien under Section 302(f) of ERISA shall have
         been met with respect to any Plan; (g) the adoption of an amendment to
         a Plan requiring the provision of security to such Plan pursuant to
         Section 307 of ERISA; or (h) the institution by the PBGC of proceedings
         to terminate a Plan pursuant to Section 4042 of ERISA, or the
         occurrence of any event or condition described in Section 4042 of ERISA
         that constitutes grounds for the termination of, or the appointment of
         a trustee to administer, a Plan.

                  "Eurocurrency Liabilities" has the meaning assigned to that
         term in Regulation D of the Board of Governors of the Federal Reserve
         System, as in effect from time to time.

                                       5
<PAGE>
                  "Eurodollar Lending Office" means, with respect to any Lender,
         the office of such Lender specified as its "Eurodollar Lending Office"
         opposite its name on Schedule I hereto or in the Assignment and
         Acceptance pursuant to which it became a Lender (or, if no such office
         is specified, its Domestic Lending Office), or such other office of
         such Lender as such Lender may from time to time specify to the
         Borrower and the Agent.

                  "Eurodollar Rate" means, for any Interest Period for each
         Eurodollar Rate Advance comprising part of the same Revolving Credit
         Borrowing, an interest rate per annum equal to the rate per annum
         obtained by dividing (a) the rate per annum (rounded upward to the
         nearest whole multiple of 1/16 of 1% per annum) appearing on Telerate
         Markets Page 3750 (or any successor page) as the London interbank
         offered rate for deposits in U.S. dollars at approximately 11:00 A.M.
         (London time) two Business Days prior to the first day of such Interest
         Period for a term comparable to such Interest Period or, if for any
         reason such rate is not available, the average (rounded upward to the
         nearest whole multiple of 1/16 of 1% per annum, if such average is not
         such a multiple) of the rate per annum at which deposits in U.S.
         dollars are offered by the principal office of each of the Reference
         Banks in London, England to prime banks in the London interbank market
         at 11:00 A.M. (London time) two Business Days before the first day of
         such Interest Period in an amount substantially equal to such Reference
         Bank's Eurodollar Rate Advance comprising part of such Revolving Credit
         Borrowing to be outstanding during such Interest Period and for a
         period equal to such Interest Period by (b) a percentage equal to 100%
         minus the Eurodollar Rate Reserve Percentage for such Interest Period.
         If the Telerate Markets Page 3750 (or any successor page) is
         unavailable, the Eurodollar Rate for any Interest Period for each
         Eurodollar Rate Advance comprising part of the same Revolving Credit
         Borrowing shall be determined by the Agent on the basis of applicable
         rates furnished to and received by the Agent from the Reference Banks
         two Business Days before the first day of such Interest Period,
         subject, however, to the provisions of Section 2.08.

                  "Eurodollar Rate Advance" means a Revolving Credit Advance
         that bears interest as provided in Section 2.07(a)(ii).

                  "Eurodollar Rate Reserve Percentage" for any Interest Period
         for all Eurodollar Rate Advances or LIBO Rate Advances comprising part
         of the same Borrowing means the reserve percentage, if any, applicable
         two Business Days before the first day of such Interest Period under
         regulations issued from time to time by the Board of Governors of the
         Federal Reserve System (or any successor) for determining the maximum
         reserve requirement (including, without limitation, any emergency,
         supplemental or other marginal reserve requirement) for a member bank
         of the Federal Reserve System in New York City with respect to
         liabilities or assets consisting of or including Eurocurrency
         Liabilities (or with respect to any other category of liabilities that
         includes deposits by reference to which the interest rate on Eurodollar
         Rate Advances or LIBO Rate Advances is determined) having a term equal
         to such Interest Period.

                  "Events of Default" has the meaning specified in Section 6.01.

                  "Federal Funds Rate" means, for any period, a fluctuating
         interest rate per annum equal for each day during such period to the
         weighted average of the rates on overnight Federal funds transactions
         with members of the Federal Reserve System arranged by Federal funds
         brokers, as published for such day (or, if such day is not a Business
         Day, for the next preceding 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 of the quotations for such day on such
         transactions received by the Agent from three Federal funds brokers of
         recognized standing selected by it.

                  "Fixed Rate Advances" has the meaning specified in Section
         2.03(a)(i).

                  "Foreign Subsidiary" means any Subsidiary organized under the
         laws of a jurisdiction other than the United States of America or any
         political subdivision thereof.

                  "GAAP" has the meaning specified in Section 1.03.

                                       6
<PAGE>
                  "Hazardous Materials" means (a) petroleum and petroleum
         products, byproducts or breakdown products, radioactive materials,
         asbestos-containing materials and polychlorinated biphenyls and (b) any
         other chemicals, materials or substances designated, classified or
         regulated as hazardous or toxic or as a pollutant or contaminant under
         any Environmental Law.

                  "Hedge Agreements" means interest rate swap, cap or collar
         agreements, interest rate future or option contracts, currency swap
         agreements, currency future or option contracts and other similar
         agreements.

                  "Information Memorandum" means the information memorandum
         dated April 2002 used by the Agent in connection with the syndication
         of the Revolving Credit Commitments.

                  "Interest Period" means, for each Eurodollar Rate Advance
         comprising part of the same Revolving Credit Borrowing and each LIBO
         Rate Advance comprising part of the same Competitive Bid Borrowing, the
         period commencing on the date of such Eurodollar Rate Advance or LIBO
         Rate Advance or the date of the Conversion of any Base Rate Advance
         into such Eurodollar Rate Advance and ending on the last day of the
         period selected by the Borrower pursuant to the provisions below and,
         thereafter, with respect to Eurodollar Rate Advances, each subsequent
         period commencing on the last day of the immediately preceding Interest
         Period and ending on the last day of the period selected by the
         Borrower pursuant to the provisions below. The duration of each such
         Interest Period shall be one, two, three or six months, and subject to
         clause (iii) of this definition, nine or twelve months, as the Borrower
         may, upon notice received by the Agent not later than 11:00 A.M. (New
         York City time) on the third Business Day prior to the first day of
         such Interest Period, select; provided, however, that:

                           (i) the Borrower may not select any Interest Period
                  that ends after the Termination Date except that, if the
                  Revolving Credit Advances have been converted to term loans
                  pursuant to Section 2.06 prior to such selection, such
                  Borrower may not select any Interest Period that ends after
                  the Term Loan Maturity Date;

                           (ii) Interest Periods commencing on the same date for
                  Eurodollar Rate Advances comprising part of the same Revolving
                  Credit Borrowing or for LIBO Rate Advances comprising part of
                  the same Competitive Bid Borrowing shall be of the same
                  duration;

                           (iii) in the case of any such Revolving Credit
                  Borrowing, the Borrower shall not be entitled to select an
                  Interest Period having duration of nine or twelve months
                  unless, by 2:00 P.M. (New York City time) on the third
                  Business Day prior to the first day of such Interest Period,
                  each Lender notifies the Administrative Agent that such Lender
                  will be providing funding for such Revolving Credit Borrowing
                  with such Interest Period (the failure of any Lender to so
                  respond by such time being deemed for all purposes of this
                  Agreement as an objection by such Lender to the requested
                  duration of such Interest Period); provided that, if any or
                  all of the Lenders object to the requested duration of such
                  Interest Period, the duration of the Interest Period for such
                  Revolving Credit Borrowing shall be one, two, three or six
                  months, as specified by the Borrower requesting such Revolving
                  Credit Borrowing in the applicable Notice of Revolving Credit
                  Borrowing as the desired alternative to an Interest Period of
                  nine or twelve months;

                           (iv) whenever the last day of any Interest Period
                  would otherwise occur on a day other than a Business Day, the
                  last day of such Interest Period shall be extended to occur on
                  the next succeeding Business Day, provided, however, that, if
                  such extension would cause the last day of such Interest
                  Period to occur in the next following calendar month, the last
                  day of such Interest Period shall occur on the next preceding
                  Business Day; and

                           (v) whenever the first day of any Interest Period
                  occurs on a day of an initial calendar month for which there
                  is no numerically corresponding day in the calendar month that
                  succeeds such initial calendar month by the number of months
                  equal to the number of months in

                                       7
<PAGE>
                  such Interest Period, such Interest Period shall end on the
                  last Business Day of such succeeding calendar month.

                  "Internal Revenue Code" means the Internal Revenue Code of
         1986, as amended from time to time, and the regulations promulgated and
         rulings issued thereunder.

                  "Lenders" means the Initial Lenders and each Person that shall
         become a party hereto pursuant to Section 8.07.

                  "LIBO Rate" means, for any Interest Period for all LIBO Rate
         Advances comprising part of the same Competitive Bid Borrowing, an
         interest rate per annum equal to the rate per annum obtained by
         dividing (a) the rate per annum (rounded upward to the nearest whole
         multiple of 1/16 of 1% per annum) appearing on Dow Jones Markets
         Telerate Page 3750 (or any successor page) as the London interbank
         offered rate for deposits in U.S. dollars at approximately 11:00 A.M.
         (London time) two Business Days prior to the first day of such Interest
         Period for a term comparable to such Interest Period or, if for any
         reason such rate is not available, the average (rounded upward to the
         nearest whole multiple of 1/16 of 1% per annum, if such average is not
         such a multiple) of the rate per annum at which deposits in U.S.
         dollars offered by the principal office of each of the Reference Banks
         in London, England to prime banks in the London interbank market at
         11:00 A.M. (London time) two Business Days before the first day of such
         Interest Period in an amount substantially equal to the amount that
         would be the Reference Banks' respective ratable shares of such
         Borrowing if such Borrowing were to be a Revolving Credit Borrowing to
         be outstanding during such Interest Period and for a period equal to
         such Interest Period by (b) a percentage equal to 100% minus the
         Eurodollar Rate Reserve Percentage for such Interest Period. If the Dow
         Jones Markets Telerate Page 3750 (or any successor page) is
         unavailable, the LIBO Rate for any Interest Period for each LIBO Rate
         Advance comprising part of the same Competitive Bid Borrowing shall be
         determined by the Agent on the basis of applicable rates furnished to
         and received by the Agent from the Reference Banks two Business Days
         before the first day of such Interest Period, subject, however, to the
         provisions of Section 2.08.

                  "LIBO Rate Advances" means a Competitive Bid Advance bearing
         interest based on the LIBO Rate.

                  "Lien" means any lien, security interest or other charge or
         encumbrance of any kind, including, without limitation, the lien or
         retained security title of a conditional vendor and any easement, right
         of way or other encumbrance on title to real property; provided,
         however, that no transfer of assets that is treated as a sale in
         accordance with GAAP shall be deemed to constitute a Lien for purposes
         of this Agreement.

                  "Loan Document" means this Agreement and the Notes (if any).

                  "Material Adverse Change" means any material adverse change in
         the business, condition (financial or otherwise), operations,
         performance or properties of the Borrower or the Borrower and its
         Subsidiaries taken as a whole.

                  "Material Adverse Effect" means a material adverse effect on
         (a) the business, condition (financial or otherwise), operations,
         performance or properties of the Borrower or the Borrower and its
         Subsidiaries taken as a whole, (b) the rights and remedies of the Agent
         or any Lender under this Agreement or any Note or (c) the ability of
         the Borrower to perform its obligations under this Agreement or any
         Note.

                  "Moody's" means Moody's Investors Service, Inc.

                  "Multiemployer Plan" means a multiemployer plan, as defined in
         Section 4001(a)(3) of ERISA, to which the Borrower or any ERISA
         Affiliate is making or accruing an obligation to make contributions, or
         has within any of the preceding five plan years made or accrued an
         obligation to make contributions.

                                       8
<PAGE>
                  "Multiple Employer Plan" means a single employer plan, as
         defined in Section 4001(a)(15) of ERISA, that (a) is maintained for
         employees of the Borrower or any ERISA Affiliate and at least one
         Person other than the Borrower and the ERISA Affiliates or (b) was so
         maintained and in respect of which the Borrower or any ERISA Affiliate
         could have liability under Section 4064 or 4069 of ERISA in the event
         such plan has been or were to be terminated.

                  "Net Worth" means, on any date, all amounts which, in
         accordance with GAAP, would be included under stockholders' equity on a
         Consolidated balance sheet of the Borrower and its Subsidiaries at such
         date, adjusted to exclude (x) accumulated foreign currency translation
         adjustments and (y) accumulated losses related to Statement of
         Financial Accounting Standards No. 142 and No. 144 in an aggregate
         amount not to exceed $350,000,000.

                  "Note" means a Revolving Credit Note or a Competitive Bid
         Note.

                  "Notice of Competitive Bid Borrowing" has the meaning
         specified in Section 2.03(a).

                  "Notice of Revolving Credit Borrowing" has the meaning
         specified in Section 2.02(a).

                  "PBGC" means the Pension Benefit Guaranty Corporation (or any
         successor).

                  "Permitted Liens" means such of the following as to which no
         enforcement, collection, execution, levy or foreclosure proceeding
         shall have been commenced: (a) Liens for taxes, assessments and
         governmental charges or levies to the extent not required to be paid
         under Section 5.01(b) hereof; (b) Liens imposed by law, such as
         materialmen's, mechanics', carriers', workmen's and repairmen's Liens
         and other similar Liens arising in the ordinary course of business
         securing obligations that are not overdue for a period of more than 60
         days; (c) pledges or deposits to secure obligations under workers'
         compensation laws or similar legislation or to secure public or
         statutory obligations; (d) easements, rights of way and other
         encumbrances on title to real property that do not render title to the
         property encumbered thereby unmarketable or materially adversely affect
         the use of such property for its present purposes and (e) Liens
         securing performance of bids, trade contracts (other than for borrowed
         money), leases, surety and appeal bonds, performance bonds and similar
         obligations incurred in the ordinary course of business.

                  "Person" means an individual, partnership, corporation
         (including a business trust), joint stock company, trust,
         unincorporated association, joint venture, limited liability company or
         other entity, or a government or any political subdivision or agency
         thereof.

                  "Plan" means a Single Employer Plan or a Multiple Employer
         Plan.

                  "Public Debt Rating" means, as of any date, the rating that
         has been most recently announced by either S&P or Moody's, as the case
         may be, for any class of non-credit enhanced long-term senior unsecured
         debt issued by the Borrower (and if either such rating agency has
         issued more than one such rating, the lowest thereof). For purposes of
         the foregoing, (a) if only one of S&P and Moody's shall have in effect
         a Public Debt Rating, the Applicable Margin, the Applicable Percentage
         and the Applicable Utilization Fee shall be determined by reference to
         the available rating; (b) if neither S&P nor Moody's shall have in
         effect a Public Debt Rating, the Applicable Margin, the Applicable
         Percentage and the Applicable Utilization Fee will be set in accordance
         with Level 5 under the definition of "Applicable Margin", "Applicable
         Percentage" or "Applicable Utilization Fee", as the case may be; (c) if
         any rating established by S&P or Moody's shall be changed, such change
         shall be effective as of the date on which such change is first
         announced publicly by the rating agency making such change; and (d) if
         S&P or Moody's shall change the basis on which ratings are established,
         each reference to the Public Debt Rating announced by S&P or Moody's,
         as the case may be, shall refer to the then equivalent rating by S&P or
         Moody's, as the case may be.

                                       9
<PAGE>
                  "Ratable Share" means, with respect to any Lender at any time,
         a fraction the numerator of which is such Lender's Revolving Credit
         Commitment at such time and the denominator of which is the Revolving
         Credit Facility at such time.

                  "Reference Banks" means Citibank, JPMorgan Chase Bank and
         Wachovia Bank, National Association.

                  "Register" has the meaning specified in Section 8.07(d).

                  "Required Lenders" means at any time Lenders owed at least a
         majority in interest of the then aggregate unpaid principal amount of
         the Revolving Credit Advances owing to Lenders, or, if no such
         principal amount is then outstanding, Lenders having at least a
         majority in interest of the Revolving Credit Commitments.

                  "Revolving Credit Advance" means an advance by a Lender to the
         Borrower as part of a Revolving Credit Borrowing and refers to a Base
         Rate Advance or a Eurodollar Rate Advance (each of which shall be a
         "Type" of Revolving Credit Advance).

                  "Revolving Credit Borrowing" means a borrowing consisting of
         simultaneous Revolving Credit Advances of the same Type made by each of
         the Lenders pursuant to Section 2.01.

                  "Revolving Credit Commitment" means as to any Lender (a) the
         amount set forth opposite such Lender's name on the signature pages
         hereof under the caption "Revolving Credit Commitment", or (b) if such
         Lender has entered into any Assignment and Acceptance, the amount set
         forth for such Lender in the Register maintained by the Agent pursuant
         to Section 8.07(d) as such Lender's "Revolving Credit Commitment", as
         such amount may be reduced pursuant to Section 2.05.

                  "Revolving Credit Facility" means the aggregate of the
         Revolving Credit Commitments.

                  "Revolving Credit Note" means a promissory note of the
         Borrower payable to the order of any Lender, delivered pursuant to a
         request made under Section 2.16 in substantially the form of Exhibit
         A-1 hereto, evidencing the aggregate indebtedness of the Borrower to
         such Lender resulting from the Revolving Credit Advances made by such
         Lender.

                  "S&P" means Standard & Poor's, a division of The McGraw-Hill
         Companies, Inc.

                  "Single Employer Plan" means a single employer plan, as
         defined in Section 4001(a)(15) of ERISA, that (a) is maintained for
         employees of the Borrower or any ERISA Affiliate and no Person other
         than the Borrower and the ERISA Affiliates or (b) was so maintained and
         in respect of which the Borrower or any ERISA Affiliate could have
         liability under Section 4069 of ERISA in the event such plan has been
         or were to be terminated.

                  "Subsidiary" of any Person means any corporation, partnership,
         joint venture, limited liability company, trust or estate of which (or
         in which) more than 50% of (a) the issued and outstanding capital stock
         having ordinary voting power to elect a majority of the Board of
         Directors of such corporation (irrespective of whether at the time
         capital stock of any other class or classes of such corporation shall
         or might have voting power upon the occurrence of any contingency), (b)
         the interest in the capital or profits of such limited liability
         company, partnership or joint venture or (c) the beneficial interest in
         such trust or estate is at the time directly or indirectly owned or
         controlled by such Person, by such Person and one or more of its other
         Subsidiaries or by one or more of such Person's other Subsidiaries.

                  "Term Loan Conversion Date" means the Termination Date on
         which all Revolving Credit Advances outstanding on such date are
         converted into term loans pursuant to Section 2.06.

                                       10
<PAGE>
                  "Term Loan Election" has the meaning specified in Section
         2.06.

                  "Term Loan Maturity Date" means the earlier of (a) the first
         anniversary of the Termination Date and (b) the date of termination in
         whole of the aggregate Commitments pursuant to Section 2.05 or 6.01.

                  "Termination Date" means the earlier of May 28, 2003 and the
         date of termination in whole of the Revolving Credit Commitments
         pursuant to Section 2.05(a) or 6.01.

                  "Unused Revolving Credit Commitment" means, with respect to
         any Lender at any time, (a) such Lender's Revolving Credit Commitment
         at such time minus (b) the sum of (i) the aggregate principal amount of
         all Revolving Credit Advances made by such Lender and outstanding at
         such time plus (ii) such Lender's Ratable Share of the aggregate
         principal amount of all Competitive Bid Advances outstanding at such
         time.

                  "Usage" means, at any time the sum of the aggregate principal
         amount of the Advances then outstanding.

                  "Voting Stock" means capital stock issued by a corporation, or
         equivalent interests in any other Person, the holders of which are
         ordinarily, in the absence of contingencies, entitled to vote for the
         election of directors (or persons performing similar functions) of such
         Person, even if the right so to vote has been suspended by the
         happening of such a contingency.

                  SECTION 1.02. Computation of Time Periods. In this Agreement
in the computation of periods of time from a specified date to a later specified
date, the word "from" means "from and including" and the words "to" and "until"
each mean "to but excluding".

                  SECTION 1.03. Accounting Terms. All accounting terms not
specifically defined herein shall be construed in accordance with generally
accepted accounting principles consistent with those applied in the preparation
of the financial statements of the Borrower as of December 31, 2001, as modified
by the Borrower's adoption of Statement of Financial Accounting Standards No.
142 and No. 144 ("GAAP").

                                   ARTICLE II

                        AMOUNTS AND TERMS OF THE ADVANCES

                  SECTION 2.01. The Revolving Credit Advances. Each Lender
severally agrees, on the terms and conditions hereinafter set forth, to make
Revolving Credit Advances to the Borrower from time to time on any Business Day
during the period from the Effective Date until the Termination Date in an
amount for each Revolving Credit Advance not to exceed such Lender's Unused
Revolving Credit Commitment. Each Revolving Credit Borrowing shall be in an
aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess
thereof and shall consist of Revolving Credit Advances of the same Type made on
the same day by the Lenders ratably according to their respective Revolving
Credit Commitments. Within the limits of each Lender's Unused Revolving Credit
Commitment, the Borrower may borrow under this Section 2.01(a), prepay pursuant
to Section 2.10 and reborrow under this Section 2.01(a).

                  SECTION 2.02. Making the Revolving Credit Advances. (a) Each
Revolving Credit Borrowing shall be made on notice, given not later than (x)
11:00 A.M. (New York City time) on the third Business Day prior to the date of
the proposed Revolving Credit Borrowing in the case of a Revolving Credit
Borrowing consisting of Eurodollar Rate Advances or (y) 11:00 A.M. (New York
City time) on the date of the proposed Revolving Credit Borrowing in the case of
a Revolving Credit Borrowing consisting of Base Rate Advances, by the Borrower
to the Agent, which shall give to each Lender prompt notice thereof by
telecopier or telex. Each such notice of a Revolving Credit Borrowing (a "Notice
of Revolving Credit Borrowing") shall be by telephone, confirmed immediately in
writing, or telecopier or telex in substantially the form of Exhibit B-1 hereto,
specifying therein the requested (i) date of such Revolving Credit Borrowing,
(ii) Type of Advances comprising such Revolving Credit Borrowing, (iii)
aggregate amount of such Revolving Credit Borrowing, and (iv) in the case of a
Revolving Credit

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<PAGE>
Borrowing consisting of Eurodollar Rate Advances, initial Interest Period for
each such Revolving Credit Advance. Each Lender shall, before 12:00 noon (New
York City time) on the date of such Revolving Credit Borrowing make available
for the account of its Applicable Lending Office to the Agent at the Agent's
Account, in same day funds, such Lender's ratable portion of such Revolving
Credit Borrowing. After the Agent's receipt of such funds and upon fulfillment
of the applicable conditions set forth in Article III, the Agent will make such
funds available to the Borrower at the Agent's address referred to in Section
8.02.

                  (b) Anything in subsection (a) above to the contrary
notwithstanding, (i) the Borrower may not select Eurodollar Rate Advances for
any Revolving Credit Borrowing if the aggregate amount of such Revolving Credit
Borrowing is less than $10,000,000 or if the obligation of the Lenders to make
Eurodollar Rate Advances shall then be suspended pursuant to Section 2.08 or
2.12 and (ii) the Eurodollar Rate Advances may not be outstanding as part of
more than ten separate Revolving Credit Borrowings.

                  (c) Each Notice of Revolving Credit Borrowing shall be
irrevocable and binding on the Borrower. In the case of any Revolving Credit
Borrowing that the related Notice of Revolving Credit Borrowing specifies is to
be comprised of Eurodollar Rate Advances, the Borrower shall indemnify each
Lender against any loss, cost or expense incurred by such Lender as a result of
any failure to fulfill on or before the date specified in such Notice of
Revolving Credit Borrowing for such Revolving Credit Borrowing the applicable
conditions set forth in Article III, including, without limitation, any loss
(excluding loss of anticipated profits), cost or expense incurred by reason of
the liquidation or reemployment of deposits or other funds acquired by such
Lender to fund the Revolving Credit Advance to be made by such Lender as part of
such Revolving Credit Borrowing when such Revolving Credit Advance, as a result
of such failure, is not made on such date.

                  (d) Unless the Agent shall have received notice from a Lender
prior to the date of any Revolving Credit Borrowing that such Lender will not
make available to the Agent such Lender's ratable portion of such Revolving
Credit Borrowing, the Agent may assume that such Lender has made such portion
available to the Agent on the date of such Revolving Credit Borrowing in
accordance with subsection (a) of this Section 2.02 and the Agent may, in
reliance upon such assumption, make available to the Borrower on such date a
corresponding amount. If and to the extent that such Lender shall not have so
made such ratable portion available to the Agent, such Lender and the Borrower
severally agree to repay to the Agent forthwith on demand such corresponding
amount together with interest thereon, for each day from the date such amount is
made available to the Borrower until the date such amount is repaid to the
Agent, at (i) in the case of the Borrower, the interest rate applicable at the
time to Revolving Credit Advances comprising such Revolving Credit Borrowing and
(ii) in the case of such Lender, the Federal Funds Rate. If such Lender shall
repay to the Agent such corresponding amount, such amount so repaid shall
constitute such Lender's Revolving Credit Advance as part of such Revolving
Credit Borrowing for purposes of this Agreement.

                  (e) The failure of any Lender to make the Revolving Credit
Advance to be made by it as part of any Revolving Credit Borrowing shall not
relieve any other Lender of its obligation, if any, hereunder to make its
Revolving Credit Advance on the date of such Revolving Credit Borrowing, but no
Lender shall be responsible for the failure of any other Lender to make the
Revolving Credit Advance to be made by such other Lender on the date of any
Revolving Credit Borrowing.

                  SECTION 2.03. The Competitive Bid Advances. (a) Each Lender
severally agrees that the Borrower may make Competitive Bid Borrowings under
this Section 2.03 from time to time on any Business Day during the period from
the date hereof until the date occurring 30 days prior to the Termination Date
in the manner set forth below; provided that, following the making of each
Competitive Bid Borrowing, the aggregate Usage shall not exceed the Revolving
Credit Facility.

                  (i) The Borrower may request a Competitive Bid Borrowing under
         this Section 2.03 by delivering to the Agent, by telecopier or telex, a
         notice of a Competitive Bid Borrowing (a "Notice of Competitive Bid
         Borrowing"), in substantially the form of Exhibit B-2 hereto,
         specifying therein the requested (v) date of such proposed Competitive
         Bid Borrowing, (w) aggregate amount of such proposed Competitive Bid
         Borrowing, (x) in the case of a Competitive Bid Borrowing consisting of
         LIBO Rate Advances, Interest Period, or in the case of a Competitive
         Bid Borrowing consisting of Fixed Rate

                                       12
<PAGE>
         Advances, maturity date for repayment of each Fixed Rate Advance to be
         made as part of such Competitive Bid Borrowing (which maturity date may
         not be earlier than the date occurring 7 days after the date of such
         Competitive Bid Borrowing or later than the earlier of (I) 180 days
         after the date of such Competitive Bid Borrowing and (II) the
         Termination Date), (y) interest payment date or dates relating thereto,
         and (z) other terms (if any) to be applicable to such Competitive Bid
         Borrowing, not later than 10:00 A.M. (New York City time) (A) at least
         one Business Day prior to the date of the proposed Competitive Bid
         Borrowing, if the Borrower shall specify in the Notice of Competitive
         Bid Borrowing that the rates of interest to be offered by the Lenders
         shall be fixed rates per annum (the Advances comprising any such
         Competitive Bid Borrowing being referred to herein as "Fixed Rate
         Advances") and (B) at least four Business Days prior to the date of the
         proposed Competitive Bid Borrowing, if the Borrower shall instead
         specify in the Notice of Competitive Bid Borrowing that the Advances
         comprising such Competitive Bid Borrowing shall be LIBO Rate Advances.
         Each Notice of Competitive Bid Borrowing shall be irrevocable and
         binding on the Borrower. The Agent shall in turn promptly notify each
         Lender of each request for a Competitive Bid Borrowing received by it
         from the Borrower by sending such Lender a copy of the related Notice
         of Competitive Bid Borrowing.

                  (ii) Each Lender may, if, in its sole discretion, it elects to
         do so, irrevocably offer to make one or more Competitive Bid Advances
         to the Borrower as part of such proposed Competitive Bid Borrowing at a
         rate or rates of interest specified by such Lender in its sole
         discretion, by notifying the Agent (which shall give prompt notice
         thereof to the Borrower), (A) before 9:30 A.M. (New York City time) on
         the date of such proposed Competitive Bid Borrowing, in the case of a
         Competitive Bid Borrowing consisting of Fixed Rate Advances and (B)
         before 10:00 A.M. (New York City time) three Business Days before the
         date of such proposed Competitive Bid Borrowing, in the case of a
         Competitive Bid Borrowing consisting of LIBO Rate Advances of the
         minimum amount and maximum amount of each Competitive Bid Advance which
         such Lender would be willing to make as part of such proposed
         Competitive Bid Borrowing (which amounts may, subject to the proviso to
         the first sentence of this Section 2.03(a), exceed such Lender's
         Revolving Credit Commitment, if any), the rate or rates of interest
         therefor and such Lender's Applicable Lending Office with respect to
         such Competitive Bid Advance; provided that if the Agent in its
         capacity as a Lender shall, in its sole discretion, elect to make any
         such offer, it shall notify the Borrower of such offer at least 30
         minutes before the time and on the date on which notice of such
         election is to be given to the Agent, by the other Lenders. If any
         Lender shall elect not to make such an offer, such Lender shall so
         notify the Agent before 10:00 A.M. (New York City time) on the date on
         which notice of such election is to be given to the Agent by the other
         Lenders, and such Lender shall not be obligated to, and shall not, make
         any Competitive Bid Advance as part of such Competitive Bid Borrowing;
         provided that the failure by any Lender to give such notice shall not
         cause such Lender to be obligated to make any Competitive Bid Advance
         as part of such proposed Competitive Bid Borrowing.

                  (iii) The Borrower shall, in turn, (A) before 10:30 A.M. (New
         York City time) on the date of such proposed Competitive Bid Borrowing,
         in the case of a Competitive Bid Borrowing consisting of Fixed Rate
         Advances and (B) before 11:00 A.M. (New York City time) three Business
         Days before the date of such proposed Competitive Bid Borrowing, in the
         case of a Competitive Bid Borrowing consisting of LIBO Rate Advances,
         either:

                           (x) cancel such Competitive Bid Borrowing by giving
                  the Agent notice to that effect, or

                           (y) accept one or more of the offers made by any
                  Lender or Lenders pursuant to paragraph (ii) above, in its
                  sole discretion, by giving notice to the Agent of the amount
                  of each Competitive Bid Advance (which amount shall be equal
                  to or greater than the minimum amount, and equal to or less
                  than the maximum amount, notified to the Borrower by the Agent
                  on behalf of such Lender for such Competitive Bid Advance
                  pursuant to paragraph (ii) above) to be made by each Lender as
                  part of such Competitive Bid Borrowing, and reject any
                  remaining offers made by Lenders pursuant to paragraph (ii)
                  above by giving the Agent notice to that effect. The Borrower
                  shall accept the offers made by any Lender or Lenders to make
                  Competitive Bid Advances in

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<PAGE>
                  order of the lowest to the highest rates of interest offered
                  by such Lenders. If two or more Lenders have offered the same
                  interest rate, the amount to be borrowed at such interest rate
                  will be allocated among such Lenders in proportion to the
                  amount that each such Lender offered at such interest rate.

                  (iv) If the Borrower notifies the Agent that such Competitive
         Bid Borrowing is cancelled pursuant to paragraph (iii)(x) above, the
         Agent shall give prompt notice thereof to the Lenders and such
         Competitive Bid Borrowing shall not be made.

                  (v) If the Borrower accepts one or more of the offers made by
         any Lender or Lenders pursuant to paragraph (iii)(y) above, the Agent
         shall in turn promptly notify (A) each Lender that has made an offer as
         described in paragraph (ii) above, of the date and aggregate amount of
         such Competitive Bid Borrowing and whether or not any offer or offers
         made by such Lender pursuant to paragraph (ii) above have been accepted
         by the Borrower, (B) each Lender that is to make a Competitive Bid
         Advance as part of such Competitive Bid Borrowing, of the amount of
         each Competitive Bid Advance to be made by such Lender as part of such
         Competitive Bid Borrowing, and (C) each Lender that is to make a
         Competitive Bid Advance as part of such Competitive Bid Borrowing, upon
         receipt, that the Agent has received forms of documents appearing to
         fulfill the applicable conditions set forth in Article III. Each Lender
         that is to make a Competitive Bid Advance as part of such Competitive
         Bid Borrowing shall, before 12:00 noon (New York City time) on the date
         of such Competitive Bid Borrowing specified in the notice received from
         the Agent pursuant to clause (A) of the preceding sentence or any later
         time when such Lender shall have received notice from the Agent
         pursuant to clause (C) of the preceding sentence, make available for
         the account of its Applicable Lending Office to the Agent at the
         Agent's Account, in same day funds, such Lender's portion of such
         Competitive Bid Borrowing. Upon fulfillment of the applicable
         conditions set forth in Article III and after receipt by the Agent of
         such funds, the Agent will make such funds available to the Borrower at
         the Agent's address referred to in Section 8.02. Promptly after each
         Competitive Bid Borrowing the Agent will notify each Lender of the
         amount of the Competitive Bid Borrowing and the dates upon which such
         Competitive Bid Borrowing commenced and will terminate.

                  (vi) If the Borrower notifies the Agent that it accepts one or
         more of the offers made by any Lender or Lenders pursuant to paragraph
         (iii)(y) above, such notice of acceptance shall be irrevocable and
         binding on the Borrower. The Borrower shall indemnify each Lender
         against any loss, cost or expense incurred by such Lender as a result
         of any failure to fulfill on or before the date specified in the
         related Notice of Competitive Bid Borrowing for such Competitive Bid
         Borrowing the applicable conditions set forth in Article III,
         including, without limitation, any loss (excluding loss of anticipated
         profits), cost or expense incurred by reason of the liquidation or
         reemployment of deposits or other funds acquired by such Lender to fund
         the Competitive Bid Advance to be made by such Lender as part of such
         Competitive Bid Borrowing when such Competitive Bid Advance, as a
         result of such failure, is not made on such date.

                  (b) Each Competitive Bid Borrowing shall be in an aggregate
amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof
and, following the making of each Competitive Bid Borrowing, the Borrower shall
be in compliance with the limitation set forth in the proviso to the first
sentence of subsection (a) above.

                  (c) Within the limits and on the conditions set forth in this
Section 2.03, the Borrower may from time to time borrow under this Section 2.03,
repay or prepay pursuant to subsection (d) below, and reborrow under this
Section 2.03, provided that a Competitive Bid Borrowing shall not be made within
three Business Days of the date of any other Competitive Bid Borrowing.

                  (d) The Borrower shall repay to the Agent for the account of
each Lender that has made a Competitive Bid Advance, on the maturity date of
each Competitive Bid Advance (such maturity date being that specified by the
Borrower for repayment of such Competitive Bid Advance in the related Notice of
Competitive Bid Borrowing delivered pursuant to subsection (a)(i) above and
provided in the Competitive Bid Note evidencing such Competitive Bid Advance),
the then unpaid principal amount of such Competitive Bid Advance. The Borrower

                                       14
<PAGE>
shall have no right to prepay any principal amount of any Competitive Bid
Advance unless, and then only on the terms, specified by the Borrower for such
Competitive Bid Advance in the related Notice of Competitive Bid Borrowing
delivered pursuant to subsection (a)(i) above and set forth in the Competitive
Bid Note evidencing such Competitive Bid Advance.

                  (e) The Borrower shall pay interest on the unpaid principal
amount of each Competitive Bid Advance from the date of such Competitive Bid
Advance to the date the principal amount of such Competitive Bid Advance is
repaid in full, at the rate of interest for such Competitive Bid Advance
specified by the Lender making such Competitive Bid Advance in its notice with
respect thereto delivered pursuant to subsection (a)(ii) above, payable on the
interest payment date or dates specified by the Borrower for such Competitive
Bid Advance in the related Notice of Competitive Bid Borrowing delivered
pursuant to subsection (a)(i) above, as provided in the Competitive Bid Note
evidencing such Competitive Bid Advance. Upon the occurrence and during the
continuance of an Event of Default under Section 6.01(a), the Borrower shall pay
interest on the amount of unpaid principal of and interest on each Competitive
Bid Advance owing to a Lender, payable in arrears on the date or dates interest
is payable thereon, at a rate per annum equal at all times to 2% per annum above
the rate per annum required to be paid on such Competitive Bid Advance under the
terms of the Competitive Bid Note evidencing such Competitive Bid Advance unless
otherwise agreed in such Competitive Bid Note.

                  (f) The indebtedness of the Borrower resulting from each
Competitive Bid Advance made to the Borrower as part of a Competitive Bid
Borrowing shall be evidenced by a separate Competitive Bid Note of the Borrower
payable to the order of the Lender making such Competitive Bid Advance.

                  SECTION 2.04. Fees. (a) Facility Fee. The Borrower agrees to
pay to the Agent for the account of each Lender a facility fee on the aggregate
amount of such Lender's Revolving Credit Commitment from the Effective Date in
the case of each Initial Lender and from the effective date specified in the
Assignment and Acceptance pursuant to which it became a Lender in the case of
each other Lender until the Termination Date at a rate per annum equal to the
Applicable Percentage in effect from time to time, payable in arrears quarterly
on the last day of each March, June, September and December, commencing June 30,
2002, and on the Termination Date.

                  (b) Agent's Fees. The Borrower shall pay to the Agent for its
own account such fees as may from time to time be agreed between the Borrower
and the Agent.

                  SECTION 2.05. Termination or Reduction of the Commitments. (a)
Optional. The Borrower shall have the right, upon at least three Business Days'
notice to the Agent, to terminate in whole or permanently reduce ratably in part
the unused portions of the respective Unused Revolving Credit Commitments of the
Lenders, provided that each partial reduction shall be in the aggregate amount
of $10,000,000 or an integral multiple of $1,000,000 in excess thereof.

                  (b) Mandatory. On the Termination Date and, if the Borrower
has made the Term Loan Election in accordance with Section 2.06 prior to such
date, from time to time thereafter upon each prepayment of the Revolving Credit
Advances pursuant to Section 2.10, the Commitments of the Lenders shall be
automatically and permanently reduced on a pro rata basis by an amount equal to
the amount by which (i) the aggregate Commitments immediately prior to such
reduction exceeds (ii) the aggregate unpaid principal amount of all Revolving
Credit Advances outstanding at such time.

                  SECTION 2.06. Repayment of Revolving Credit Advances. The
Borrower shall, subject to the next succeeding sentence, repay to the Agent for
the ratable account of the Lenders on the Termination Date the aggregate
principal amount of the Revolving Credit Advances then outstanding. The Borrower
may, upon not less than 15 days' notice to the Agent, elect (the "Term Loan
Election") to convert all of the Revolving Credit Advances outstanding on the
Termination Date in effect at such time into term loans which the Borrower shall
repay in full ratably to the Lenders on the Term Loan Maturity Date; provided
that the conditions set forth in Section 3.02 have been satisfied. All Revolving
Credit Advances converted into term loans pursuant to this Section 2.06 shall
continue to constitute Revolving Credit Advances except that the Borrower may
not reborrow pursuant to Section 2.01 after all or any portion of such Revolving
Credit Advances have been prepaid pursuant to Section 2.10.

                                       15
<PAGE>
                  SECTION 2.07. Interest on Revolving Credit Advances. (a)
Scheduled Interest. The Borrower shall pay interest on the unpaid principal
amount of each Revolving Credit Advance owing to each Lender from the date of
such Revolving Credit Advance until such principal amount shall be paid in full,
at the following rates per annum:

                  (i) Base Rate Advances. During such periods as such Advance is
         a Base Rate Advance, a rate per annum equal at all times to the sum of
         (x) the Base Rate in effect from time to time plus (y) the Applicable
         Margin in effect from time to time plus (z) the Applicable Utilization
         Fee in effect from time to time, payable in arrears quarterly on the
         last day of each March, June, September and December during such
         periods and on the date such Base Rate Advance shall be Converted or
         paid in full.

                  (ii) Eurodollar Rate Advances. During such periods as such
         Advance is a Eurodollar Rate Advance, a rate per annum equal at all
         times during each Interest Period for such Revolving Credit Advance to
         the sum of (x) the Eurodollar Rate for such Interest Period for such
         Revolving Credit Advance plus (y) the Applicable Margin in effect from
         time to time plus (z) the Applicable Utilization Fee in effect from
         time to time, payable in arrears on the last day of such Interest
         Period and, if such Interest Period has a duration of more than three
         months, on each day that occurs during such Interest Period every three
         months from the first day of such Interest Period and on the date such
         Eurodollar Rate Advance shall be Converted or paid in full.

                  (b) Default Interest. Upon the occurrence and during the
continuance of an Event of Default under Section 6.01(a), the Agent may, and
upon the request of the Required Lenders shall, require the Borrower to pay
interest ("Default Interest") on (i) the unpaid principal amount of each
Revolving Credit Advance owing to each Lender, payable in arrears on the dates
referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all
times to 2% per annum above the rate per annum required to be paid on such
Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to
the fullest extent permitted by law, the amount of any interest, fee or other
amount payable hereunder that is not paid when due, from the date such amount
shall be due until such amount shall be paid in full, payable in arrears on the
date such amount shall be paid in full and on demand, at a rate per annum equal
at all times to 2% per annum above the rate per annum required to be paid on
Base Rate Advances pursuant to clause (a)(i) above, provided, however, that
following acceleration of the Advances pursuant to Section 6.01, Default
Interest shall accrue and be payable hereunder whether or not previously
required by the Agent.

                  SECTION 2.08. Interest Rate Determination. (a) Each Reference
Bank agrees to furnish to the Agent timely information for the purpose of
determining each Eurodollar Rate and each LIBO Rate. If any one or more of the
Reference Banks shall not furnish such timely information to the Agent for the
purpose of determining any such interest rate, the Agent shall determine such
interest rate on the basis of timely information furnished by the remaining
Reference Banks. The Agent shall give prompt notice to the Borrower and the
Lenders of the applicable interest rate determined by the Agent for purposes of
Section 2.07(a)(i) or (ii), and the rate, if any, furnished by each Reference
Bank for the purpose of determining the interest rate under Section 2.07(a)(ii).

                  (b) If, with respect to any Eurodollar Rate Advances, the
Required Lenders notify the Agent that the Eurodollar Rate for any Interest
Period for such Advances will not adequately reflect the cost to such Required
Lenders of making, funding or maintaining their respective Eurodollar Rate
Advances for such Interest Period, the Agent shall forthwith so notify the
Borrower and the Lenders, whereupon (i) each Eurodollar Rate Advance will
automatically, on the last day of the then existing Interest Period therefor,
Convert into a Base Rate Advance, and (ii) the obligation of the Lenders to
make, or to Convert Revolving Credit Advances into, Eurodollar Rate Advances
shall be suspended until the Agent shall notify the Borrower and the Lenders
that the circumstances causing such suspension no longer exist.

                  (c) If the Borrower shall fail to select the duration of any
Interest Period for any Eurodollar Rate Advances in accordance with the
provisions contained in the definition of "Interest Period" in Section 1.01, the
Agent will forthwith so notify the Borrower and the Lenders and such Advances
will automatically, on the last day of the then existing Interest Period
therefor, Convert into Base Rate Advances.

                                       16
<PAGE>
                  (d) On the date on which the aggregate unpaid principal amount
of Eurodollar Rate Advances comprising any Borrowing shall be reduced, by
payment or prepayment or otherwise, to less than $10,000,000, such Advances
shall automatically Convert into Base Rate Advances.

                  (e) Upon the occurrence and during the continuance of any
Event of Default under Section 6.01(a), (i) each Eurodollar Rate Advance will
automatically, on the last day of the then existing Interest Period therefor,
Convert into a Base Rate Advance and (ii) the obligation of the Lenders to make,
or to Convert Advances into, Eurodollar Rate Advances shall be suspended.

                  (f) If Telerate Markets Page 3750 is unavailable and fewer
than two Reference Banks furnish timely information to the Agent for determining
the Eurodollar Rate or LIBO Rate for any Eurodollar Rate Advances or LIBO Rate
Advances, as the case may be,

                  (i) the Agent shall forthwith notify the Borrower and the
         Lenders that the interest rate cannot be determined for such Eurodollar
         Rate Advances or LIBO Rate Advances, as the case may be,

                  (ii) with respect to Eurodollar Rate Advances, each such
         Advance will automatically, on the last day of the then existing
         Interest Period therefor, Convert into a Base Rate Advance (or if such
         Advance is then a Base Rate Advance, will continue as a Base Rate
         Advance), and

                  (iii) the obligation of the Lenders to make Eurodollar Rate
         Advances or LIBO Rate Advances or to Convert Revolving Credit Advances
         into Eurodollar Rate Advances shall be suspended until the Agent shall
         notify the Borrower and the Lenders that the circumstances causing such
         suspension no longer exist.

                  SECTION 2.09. Optional Conversion of Revolving Credit
Advances. The Borrower may on any Business Day, upon notice given to the Agent
not later than 11:00 A.M. (New York City time) on the third Business Day prior
to the date of the proposed Conversion and subject to the provisions of Sections
2.08 and 2.12, Convert all Revolving Credit Advances of one Type comprising the
same Borrowing into Revolving Credit Advances of the other Type; provided,
however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances
shall be made only on the last day of an Interest Period for such Eurodollar
Rate Advances, any Conversion of Base Rate Advances into Eurodollar Rate
Advances shall be in an amount not less than the minimum amount specified in
Section 2.02(b) and no Conversion of any Revolving Credit Advances shall result
in more separate Revolving Credit Borrowings than permitted under Section
2.02(b). Each such notice of a Conversion shall, within the restrictions
specified above, specify (i) the date of such Conversion, (ii) the Revolving
Credit Advances to be Converted, and (iii) if such Conversion is into Eurodollar
Rate Advances, the duration of the initial Interest Period for each such
Advance. Each notice of Conversion shall be irrevocable and binding on the
Borrower.

                  SECTION 2.10. Prepayments of Revolving Credit Advances. (a)
Optional. The Borrower may, upon notice at least three Business Days' prior to
the date of such prepayment, in the case of Eurodollar Rate Advances, and not
later than 11:00 A.M. (New York City time) on the date of such prepayment, in
the case of Base Rate Advances, to the Agent stating the proposed date and
aggregate principal amount of the prepayment, and if such notice is given, the
Borrower shall prepay the outstanding principal amount of the Revolving Credit
Advances comprising part of the same Revolving Credit Borrowing in whole or
ratably in part, together with accrued interest to the date of such prepayment
on the principal amount prepaid; provided, however, that (x) each partial
prepayment shall be in an aggregate principal amount of $10,000,000 or an
integral multiple of $1,000,000 in excess thereof and (y) in the event of any
such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to
reimburse the Lenders in respect thereof pursuant to Section 8.04(c).

                  (b) Mandatory. The Borrower shall, on each Business Day,
prepay an aggregate principal amount of the Revolving Credit Advances comprising
part of the same Revolving Credit Borrowing equal to the amount by which the
aggregate principal amount of the Advances then outstanding exceeds the
Revolving Credit Facility on such Business Day.

                                       17
<PAGE>
                  SECTION 2.11. Increased Costs. (a) If, due to either (i) the
introduction of or any change in or in the interpretation of any law or
regulation or (ii) the compliance with any guideline or request from any central
bank or other governmental authority (whether or not having the force of law),
there shall be any increase in the cost to any Lender of agreeing to make or
making, funding or maintaining Eurodollar Rate Advances or LIBO Rate Advances
(excluding for purposes of this Section 2.11 any such increased costs resulting
from (i) Taxes or Other Taxes (as to which Section 2.14 shall govern) and (ii)
changes in the basis of taxation of overall net income or overall gross income
by the United States or by the foreign jurisdiction or state under the laws of
which such Lender is organized or has its Applicable Lending Office or any
political subdivision thereof), then the Borrower shall from time to time, upon
demand by such Lender (with a copy of such demand to the Agent), pay to the
Agent for the account of such Lender additional amounts sufficient to compensate
such Lender for such increased cost; provided, however, that before making any
such demand, each Lender agrees to use reasonable efforts (consistent with its
internal policy and legal and regulatory restrictions) to designate a different
Applicable Lending Office if the making of such a designation would avoid the
need for, or reduce the amount of, such increased cost and would not, in the
reasonable judgment of such Lender, be otherwise disadvantageous to such Lender.
A certificate as to the amount of such increased cost, submitted to the Borrower
and the Agent by such Lender, shall be conclusive and binding for all purposes,
absent manifest error.

                  (b) If any Lender determines that compliance with any law or
regulation or any guideline or request from any central bank or other
governmental authority (whether or not having the force of law) affects or would
affect the amount of capital required or expected to be maintained by such
Lender or any corporation controlling such Lender and that the amount of such
capital is increased by or based upon the existence of such Lender's commitment
to lend hereunder and other commitments of such type, then, upon demand by such
Lender (with a copy of such demand to the Agent), the Borrower shall pay to the
Agent for the account of such Lender, from time to time as specified by such
Lender, additional amounts sufficient to compensate such Lender or such
corporation in the light of such circumstances, to the extent that such Lender
reasonably determines such increase in capital to be allocable to the existence
of such Lender's commitment to lend hereunder. A certificate as to such amounts
submitted to the Borrower and the Agent by such Lender shall be conclusive and
binding for all purposes, absent manifest error.

                  (c) Failure or delay on the part of any Lender to demand
compensation pursuant to this Section 2.11 shall not constitute a waiver of such
Lender's right to demand such compensation; provided that the Borrower shall not
be required to compensate such Lender pursuant to this Section for any increased
costs or reductions incurred more than 180 days prior to the date that such
Lender notifies the Borrower of the event giving rise to such increased costs or
reductions and of such Lender's intention to claim compensation therefor;
provided, further that, if the event giving rise to such increased costs or
reductions is retroactive, then the 180 day period referred to above shall be
extended to include the period of retroactive effect thereof.

                  SECTION 2.12. Illegality. Notwithstanding any other provision
of this Agreement, if any Lender shall notify the Agent that the introduction of
or any change in or in the interpretation of any law or regulation makes it
unlawful, or any central bank or other governmental authority asserts that it is
unlawful, for any Lender or its Eurodollar Lending Office to perform its
obligations hereunder to make Eurodollar Rate Advances or LIBO Rate Advances or
to fund or maintain Eurodollar Rate Advances or LIBO Rate Advances hereunder,
(a) each Eurodollar Rate Advance or LIBO Rate Advance, as the case may be, will
automatically, at the end of the applicable Interest Period then in effect if
permitted and otherwise upon such demand, Convert into a Base Rate Advance or an
Advance that bears interest at the rate set forth in Section 2.07(a)(i), as the
case may be, and (b) the obligation of the Lenders to make Eurodollar Rate
Advances or LIBO Rate Advances or to Convert Revolving Credit Advances into
Eurodollar Rate Advances shall be suspended until the Agent shall notify the
Borrower and the Lenders that the circumstances causing such suspension no
longer exist; provided, however, that before making any such demand, each Lender
agrees to use reasonable efforts (consistent with its internal policy and legal
and regulatory restrictions) to designate a different Eurocurrency Lending
Office if the making of such a designation would allow such Lender or its
Eurocurrency Lending Office to continue to perform its obligations to make
Eurocurrency Rate Advances or to continue to fund or maintain Eurocurrency Rate
Advances and would not, in the judgment of such Lender, be otherwise
disadvantageous to such Lender.

                  SECTION 2.13. Payments and Computations. (a) The Borrower
shall make each payment hereunder, irrespective of any right of counterclaim or
set-off, not later than 11:00 A.M. (New York City time) on

                                       18
<PAGE>
the day when due in U.S. dollars to the Agent at the Agent's Account in same day
funds. The Agent will promptly thereafter cause to be distributed like funds
relating to the payment of principal or interest or facility fees ratably (other
than amounts payable pursuant to Section 2.03, 2.11, 2.14 or 8.04(c)) to the
Lenders for the account of their respective Applicable Lending Offices, and like
funds relating to the payment of any other amount payable to any Lender to such
Lender for the account of its Applicable Lending Office, in each case to be
applied in accordance with the terms of this Agreement. Upon its acceptance of
an Assignment and Acceptance and recording of the information contained therein
in the Register pursuant to Section 8.07(c), from and after the effective date
specified in such Assignment and Acceptance, the Agent shall make all payments
hereunder and under the Notes in respect of the interest assigned thereby to the
Lender assignee thereunder, and the parties to such Assignment and Acceptance
shall make all appropriate adjustments in such payments for periods prior to
such effective date directly between themselves.

                  (b) All computations of interest based on the Base Rate shall
be made by the Agent on the basis of a year of 365 or 366 days, as the case may
be, and all computations of interest based on the Eurodollar Rate, the LIBO Rate
or the Federal Funds Rate or in respect of Fixed Rate Advances and of facility
fees shall be made by the Agent on the basis of a year of 360 days, in each case
for the actual number of days (including the first day but excluding the last
day) occurring in the period for which such interest or facility fees are
payable. Each determination by the Agent of an interest rate hereunder shall be
conclusive and binding for all purposes, absent manifest error.

                  (c) Whenever any payment hereunder or under the Notes shall be
stated to be due on a day other than a Business Day, such payment shall be made
on the next succeeding Business Day, and such extension of time shall in such
case be included in the computation of payment of interest or facility fee, as
the case may be; provided, however, that, if such extension would cause payment
of interest on or principal of Eurodollar Rate Advances or LIBO Rate Advances to
be made in the next following calendar month, such payment shall be made on the
next preceding Business Day.

                  (d) Unless the Agent shall have received notice from the
Borrower prior to the date on which any payment is due to the Lenders hereunder
that the Borrower will not make such payment in full, the Agent may assume that
the Borrower has made such payment in full to the Agent on such date and the
Agent may, in reliance upon such assumption, cause to be distributed to each
Lender on such due date an amount equal to the amount then due such Lender. If
and to the extent the Borrower shall not have so made such payment in full to
the Agent, each Lender shall repay to the Agent forthwith on demand such amount
distributed to such Lender together with interest thereon, for each day from the
date such amount is distributed to such Lender until the date such Lender repays
such amount to the Agent, at the Federal Funds Rate.

                  SECTION 2.14. Taxes. (a) Any and all payments by the Borrower
to or for the account of any Lender or the Agent hereunder or under the Notes or
any other documents to be delivered hereunder shall be made, in accordance with
Section 2.13 or the applicable provisions of such other documents, free and
clear of and without deduction for any and all present or future taxes, levies,
imposts, deductions, charges or withholdings, and all liabilities with respect
thereto, excluding, in the case of each Lender and the Agent, taxes imposed on
its overall net income, and franchise taxes imposed on it in lieu of net income
taxes, by the jurisdiction under the laws of which such Lender or the Agent (as
the case may be) is organized or any political subdivision thereof and, in the
case of each Lender, taxes imposed on its overall net income, and franchise
taxes imposed on it in lieu of net income taxes, by the jurisdiction of such
Lender's Applicable Lending Office or any political subdivision thereof (all
such non-excluded taxes, levies, imposts, deductions, charges, withholdings and
liabilities in respect of payments hereunder or under the Notes being
hereinafter referred to as "Taxes"). If the Borrower shall be required by law to
deduct any Taxes from or in respect of any sum payable hereunder or under any
Note or any other documents to be delivered hereunder to any Lender or the
Agent, (i) the sum payable shall be increased as may be necessary so that after
making all required deductions (including deductions applicable to additional
sums payable under this Section 2.14) such Lender or the Agent (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 taxation authority
or other authority in accordance with applicable law.

                                       19
<PAGE>
                  (b) In addition, the Borrower shall pay any present or future
stamp or documentary taxes or any other excise or property taxes, charges or
similar levies that arise from any payment made hereunder or under the Notes or
any other documents to be delivered hereunder or from the execution, delivery or
registration of, performing under, or otherwise with respect to, this Agreement
or the Notes or any other documents to be delivered hereunder (hereinafter
referred to as "Other Taxes").

                  (c) The Borrower shall indemnify each Lender and the Agent for
and hold it harmless against the full amount of Taxes or Other Taxes (including,
without limitation, taxes of any kind imposed or asserted by any jurisdiction on
amounts payable under this Section 2.14) imposed on or paid by such Lender or
the Agent (as the case may be) and any liability (including penalties, interest
and expenses) arising therefrom or with respect thereto. This indemnification
shall be made within 30 days from the date such Lender or the Agent (as the case
may be) makes written demand therefor.

                  (d) Within 30 days after the date of any payment of Taxes, the
Borrower shall furnish to the Agent, at its address referred to in Section 8.02,
the original or a certified copy of a receipt evidencing such payment to the
extent such a receipt is issued therefor, or other written proof of payment
thereof that is reasonably satisfactory to the Agent. In the case of any payment
hereunder or under the Notes or any other documents to be delivered hereunder by
or on behalf of the Borrower through an account or branch outside the United
States or by or on behalf of the Borrower by a payor that is not a United States
person, if the Borrower determines that no Taxes are payable in respect thereof,
the Borrower shall furnish, or shall cause such payor to furnish, to the Agent,
at such address, an opinion of counsel acceptable to the Agent stating that such
payment is exempt from Taxes. For purposes of this subsection (d) and subsection
(e), the terms "United States" and "United States person" shall have the
meanings specified in Section 7701 of the Internal Revenue Code.

                  (e) Each Lender organized under the laws of a jurisdiction
outside the United States, on or prior to the date of its execution and delivery
of this Agreement in the case of each Initial Lender and on the date of the
Assumption Agreement or the Assignment and Acceptance pursuant to which it
becomes a Lender in the case of each other Lender, and from time to time
thereafter as reasonably requested in writing by the Borrower (but only so long
as such Lender remains lawfully able to do so), shall provide each of the Agent
and the Borrower with two original Internal Revenue Service forms W-8BEN or
W-8ECI, as appropriate, or any successor or other form prescribed by the
Internal Revenue Service, certifying that such Lender is exempt from or entitled
to a reduced rate of United States withholding tax on payments pursuant to this
Agreement or the Notes. If the form provided by a Lender at the time such Lender
first becomes a party to this Agreement indicates a United States interest
withholding tax rate in excess of zero, withholding tax at such rate shall be
considered excluded from Taxes unless and until such Lender provides the
appropriate forms certifying that a lesser rate applies, whereupon withholding
tax at such lesser rate only shall be considered excluded from Taxes for periods
governed by such form; provided, however, that, if at the date of the Assignment
and Acceptance pursuant to which a Lender assignee becomes a party to this
Agreement, the Lender assignor was entitled to payments under subsection (a) in
respect of United States withholding tax with respect to interest paid at such
date, then, to such extent, the term Taxes shall include (in addition to
withholding taxes that may be imposed in the future or other amounts otherwise
includable in Taxes) United States withholding tax, if any, applicable with
respect to the Lender assignee on such date. If any form or document referred to
in this subsection (e) requires the disclosure of information, other than
information necessary to compute the tax payable and information required on the
date hereof by Internal Revenue Service form W-8BEN or W-8ECI, that the Lender
reasonably considers to be confidential, the Lender shall give notice thereof to
the Borrower and shall not be obligated to include in such form or document such
confidential information.

                  (f) For any period with respect to which a Lender has failed
to provide the Borrower with the appropriate form, certificate or other document
described in Section 2.14(e) (other than if such failure is due to a change in
law, or in the interpretation or application thereof, occurring subsequent to
the date on which a form, certificate or other document originally was required
to be provided, or if such form, certificate or other document otherwise is not
required under subsection (e) above), such Lender shall not be entitled to
indemnification under Section 2.14(a) or (c) with respect to Taxes imposed by
the United States by reason of such failure; provided, however, that should a
Lender become subject to Taxes because of its failure to deliver a form,
certificate or other document required hereunder, the Borrower shall take such
steps as the Lender shall reasonably request to assist the Lender to recover
such Taxes.

                                       20
<PAGE>
                  SECTION 2.15. Sharing of Payments, Etc. If any Lender shall
obtain any payment (whether voluntary, involuntary, through the exercise of any
right of set-off, or otherwise) on account of the Revolving Credit Advances
owing to it (other than pursuant to Section 2.11, 2.14 or 8.04(c)) in excess of
its ratable share of payments on account of the Revolving Credit Advances
obtained by all the Lenders, such Lender shall forthwith purchase from the other
Lenders such participations in the Revolving Credit Advances owing to them as
shall be necessary to cause such purchasing Lender to share the excess payment
ratably with each of them; provided, however, that if all or any portion of such
excess payment is thereafter recovered from such purchasing Lender, such
purchase from each Lender shall be rescinded and such Lender shall repay to the
purchasing Lender the purchase price to the extent of such recovery together
with an amount equal to such Lender's ratable share (according to the proportion
of (i) the amount of such Lender's required repayment to (ii) the total amount
so recovered from the purchasing Lender) of any interest or other amount paid or
payable by the purchasing Lender in respect of the total amount so recovered.
The Borrower agrees that any Lender so purchasing a participation from another
Lender pursuant to this Section 2.15 may, to the fullest extent permitted by
law, exercise all its rights of payment (including the right of set-off) with
respect to such participation as fully as if such Lender were the direct
creditor of the Borrower in the amount of such participation.

                  SECTION 2.16. Evidence of Debt. (a) 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 Revolving Credit
Advance owing to such Lender from time to time, including the amounts of
principal and interest payable and paid to such Lender from time to time
hereunder in respect of Revolving Credit Advances. The Borrower agrees that upon
notice by any Lender to the Borrower (with a copy of such notice to the Agent)
to the effect that a Revolving Credit Note is required or appropriate in order
for such Lender to evidence (whether for purposes of pledge, enforcement or
otherwise) the Revolving Credit Advances owing to, or to be made by, such
Lender, the Borrower shall promptly execute and deliver to such Lender a
Revolving Credit Note payable to the order of such Lender in a principal amount
up to the Revolving Credit Commitment of such Lender.

                  (b) The Register maintained by the Agent pursuant to Section
8.07(d) shall include a control account, and a subsidiary account for each
Lender, in which accounts (taken together) shall be recorded (i) the date and
amount of each Borrowing made hereunder, the Type of Advances comprising such
Borrowing and, if appropriate, the Interest Period applicable thereto, (ii) the
terms of each Assignment and Acceptance delivered to and accepted by it, (iii)
the amount of any principal or interest due and payable or to become due and
payable from the Borrower to each Lender hereunder and (iv) the amount of any
sum received by the Agent from the Borrower hereunder and each Lender's share
thereof.

                  (c) Entries made in good faith by the Agent in the Register
pursuant to subsection (b) above, and by each Lender in its account or accounts
pursuant to subsection (a) above, shall be prima facie evidence of the amount of
principal and interest due and payable or to become due and payable from the
Borrower to, in the case of the Register, each Lender and, in the case of such
account or accounts, such Lender, under this Agreement, absent manifest error;
provided, however, that the failure of the Agent or such Lender to make an
entry, or any finding that an entry is incorrect, in the Register or such
account or accounts shall not limit or otherwise affect the obligations of the
Borrower under this Agreement.

                  SECTION 2.17. Use of Proceeds. The proceeds of the Advances
shall be available (and the Borrower agrees that it shall use such proceeds)
solely for general corporate purposes of the Borrower and its Subsidiaries.

                                   ARTICLE III

                     CONDITIONS TO EFFECTIVENESS AND LENDING

                  SECTION 3.01. Conditions Precedent to Effectiveness of
Sections 2.01 and 2.03. Sections 2.01 and 2.03 of this Agreement shall become
effective on and as of the first date (the "Effective Date") on which the
following conditions precedent have been satisfied:

                  (a) There shall have occurred no Material Adverse Change since
December 31, 2001.

                                       21
<PAGE>
                  (b) There shall exist no action, suit, investigation,
litigation or proceeding affecting the Borrower or any of its Subsidiaries
pending or threatened before any court, governmental agency or arbitrator that
(i) could be reasonably expected to have a Material Adverse Effect or (ii)
purports to affect the legality, validity or enforceability of this Agreement or
any Note or the consummation of the transactions contemplated hereby.

                  (c) Nothing shall have come to the attention of the Lenders
during the course of their due diligence investigation to lead them to believe
that the Information Memorandum was or has become misleading, incorrect or
incomplete in any material respect; without limiting the generality of the
foregoing, the Lenders shall have been given such access to the management,
records, books of account, contracts and properties of the Borrower and its
Subsidiaries as they shall have requested.

                  (d) All governmental and third party consents and approvals
necessary in connection with the transactions contemplated hereby shall have
been obtained (without the imposition of any conditions that are not acceptable
to the Lenders) and shall remain in effect, and no law or regulation shall be
applicable in the reasonable judgment of the Lenders that restrains, prevents or
imposes materially adverse conditions upon the transactions contemplated hereby.

                  (e) The Borrower shall have notified the Agent, who will
promptly notify each Lender, in writing as to the proposed Effective Date.

                  (f) The Borrower shall have paid all accrued fees and expenses
of the Agent and the Lenders (including the accrued fees and expenses of counsel
to the Agent).

                  (g) On the Effective Date, the following statements shall be
true and the Agent shall have received for the account of each Lender a
certificate signed by a duly authorized officer of the Borrower, dated the
Effective Date, stating that:

                  (i) The representations and warranties contained in Section
         4.01 are correct on and as of the Effective Date,

                  (ii) No event has occurred and is continuing that constitutes
         a Default, and

                  (iii) The Borrower has terminated the commitments of the
         lenders and repaid or prepaid in full all amounts outstanding the
         364-Day Revolving Credit Agreement dated as of May 29, 2001 among the
         Borrower, the lenders parties thereto and Citibank, N.A., as agent.

                  By execution of this Agreement, each of the Lenders that is a
         lender under the credit agreement referred to in clause (iii) above
         hereby waives the requirement set forth in Section 2.05 of such credit
         agreement of three business days' prior notice to the termination of
         their commitments thereunder.

                  (h) The Agent shall have received on or before the Effective
Date the following, each dated such day, in form and substance satisfactory to
the Agent and (except for the Revolving Credit Notes) in sufficient copies for
each Lender:

                  (i) The Revolving Credit Notes to the order of the Lenders to
the extent requested by any Lender pursuant to Section 2.16.

                  (ii) Certified copies of the resolutions of the Board of
         Directors of the Borrower approving the Loan Documents, and of all
         documents evidencing other necessary corporate action and governmental
         approvals, if any, with respect to the Loan Documents.

                                       22
<PAGE>
                  (iii) A certificate of the Secretary or an Assistant Secretary
         of the Borrower certifying the names and true signatures of the
         officers of the Borrower authorized to sign the Loan Documents and the
         other documents to be delivered hereunder.

                  (iv) A favorable opinion of each of Jane G. Davis, Vice
         President, Secretary and General Counsel of the Borrower, and Miles &
         Stockbridge P.C., counsel for the Borrower, substantially in the form
         of Exhibit D-1 and Exhibit D-2 hereto, respectively, and as to such
         other matters as any Lender through the Agent may reasonably request.

                  (v) A favorable opinion of Shearman & Sterling, counsel for
         the Agent, in form and substance satisfactory to the Agent.

                  SECTION 3.02. Conditions Precedent to Each Revolving Credit
Borrowing and the Term Loan Conversion Date. The obligation of each Lender to
make a Revolving Credit Advance on the occasion of each Revolving Credit
Borrowing and the effectiveness of the Term Loan Election pursuant to Section
2.06 shall be subject to the conditions precedent that the Effective Date shall
have occurred and on the date of such Revolving Credit Borrowing or on the Term
Loan Conversion Date, as the case may be, (a) the following statements shall be
true (and each of the giving of the applicable Notice of Revolving Credit
Borrowing, notice of Term Loan Election and the acceptance by the Borrower of
the proceeds of such Revolving Credit Borrowing shall constitute a
representation and warranty by the Borrower that on the date of such Borrowing
or the Term Loan Conversion Date such statements are true):

                  (i) the representations and warranties contained in Section
         4.01 (except, in the case of Revolving Credit Borrowings, the
         representations set forth in the last sentence of subsection (e)
         thereof and in subsection (f)(i) thereof) are correct on and as of such
         date, before and after giving effect to such Revolving Credit Borrowing
         and to the application of the proceeds therefrom or to the Term Loan
         Election, as the case may be, as though made on and as of such date,
         and

                  (ii) no event has occurred and is continuing, or would result
         from such Revolving Credit Borrowing or from the application of the
         proceeds therefrom or from the effectiveness of the Term Loan Election,
         that constitutes a Default;

and (b) the Agent shall have received such other approvals, opinions or
documents as any Lender through the Agent may reasonably request.

                  SECTION 3.03. Conditions Precedent to Each Competitive Bid
Borrowing. The obligation of each Lender that is to make a Competitive Bid
Advance on the occasion of a Competitive Bid Borrowing to make such Competitive
Bid Advance as part of such Competitive Bid Borrowing is subject to the
conditions precedent that (i) the Agent shall have received the written
confirmatory Notice of Competitive Bid Borrowing with respect thereto, (ii) on
or before the date of such Competitive Bid Borrowing, but prior to such
Competitive Bid Borrowing, the Agent shall have received a Competitive Bid Note
payable to the order of such Lender for each of the one or more Competitive Bid
Advances to be made by such Lender as part of such Competitive Bid Borrowing, in
a principal amount equal to the principal amount of the Competitive Bid Advance
to be evidenced thereby and otherwise on such terms as were agreed to for such
Competitive Bid Advance in accordance with Section 2.03, and (iii) on the date
of such Competitive Bid Borrowing the following statements shall be true (and
each of the giving of the applicable Notice of Competitive Bid Borrowing and the
acceptance by the Borrower of the proceeds of such Competitive Bid Borrowing
shall constitute a representation and warranty by the Borrower that on the date
of such Competitive Bid Borrowing such statements are true):

                  (a) the representations and warranties contained in Section
4.01 (except the representations set forth in the last sentence of subsection
(e) thereof and in subsection (f)(i) thereof) are correct on and as of the date
of such Competitive Bid Borrowing, before and after giving effect to such
Competitive Bid Borrowing and to the application of the proceeds therefrom, as
though made on and as of such date,

                                       23
<PAGE>
                  (b) no event has occurred and is continuing, or would result
from such Competitive Bid Borrowing or from the application of the proceeds
therefrom, that constitutes a Default, and

                  (c) no event has occurred and no circumstance exists as a
result of which the information concerning the Borrower that has been provided
to the Agent and each Lender by the Borrower in connection herewith would
include an untrue statement of a material fact or omit to state any material
fact or any fact necessary to make the statements contained therein, in the
light of the circumstances under which they were made, not misleading.

                  SECTION 3.04. Determinations Under Section 3.01. For purposes
of determining compliance with the conditions specified in Section 3.01, each
Lender shall be deemed to have consented to, approved or accepted or to be
satisfied with each document or other matter required thereunder to be consented
to or approved by or acceptable or satisfactory to the Lenders unless an officer
of the Agent responsible for the transactions contemplated by this Agreement
shall have received notice from such Lender prior to the date that the Borrower,
by notice to the Lenders, designates as the proposed Effective Date, specifying
its objection thereto. The Agent shall promptly notify the Lenders of the
occurrence of the Effective Date.

                                   ARTICLE IV

                         REPRESENTATIONS AND WARRANTIES

                  SECTION 4.01. Representations and Warranties of the Borrower.
The Borrower represents and warrants as follows:

                  (a) The Borrower is a corporation duly organized, validly
existing and in good standing under the laws of the State of Delaware.

                  (b) The execution, delivery and performance by the Borrower of
the Loan Documents and the consummation of the transactions contemplated hereby,
are within the Borrower's corporate powers, have been duly authorized by all
necessary corporate action, and do not contravene (i) the Borrower's charter or
by-laws or (ii) law or any contractual restriction binding on or affecting the
Borrower.

                  (c) No authorization or approval or other action by, and no
notice to or filing with, any governmental authority or regulatory body or any
other third party is required for the due execution, delivery and performance by
the Borrower of the Loan Documents.

                  (d) This Agreement has been, and each of the other Loan
Documents when delivered hereunder will have been, duly executed and delivered
by the Borrower. This Agreement is, and each of the other Loan Documents when
delivered hereunder will be, the legal, valid and binding obligation of the
Borrower enforceable against the Borrower in accordance with their respective
terms, except as enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting the enforcement
of creditors' rights generally and by general equitable principles (whether
enforcement is sought by proceedings in equity or at law).

                  (e) The Consolidated balance sheet of the Borrower and its
Subsidiaries as at December 31, 2001, and the related Consolidated statements of
income and cash flows of the Borrower and its Subsidiaries for the fiscal year
then ended, accompanied by an opinion of KPMG LLP, independent public
accountants, and the Consolidated balance sheet of the Borrower and its
Subsidiaries as at March 31, 2002, and the related Consolidated statements of
income and cash flows of the Borrower and its Subsidiaries for the three months
then ended, duly certified by the chief financial officer or the treasurer of
the Borrower, copies of which have been furnished to each Lender, fairly
present, subject, in the case of said balance sheet as at March 31, 2002, and
said statements of income and cash flows for the three months then ended, to
year-end audit adjustments, the Consolidated financial condition of the Borrower
and its Subsidiaries as at such dates and the Consolidated results of the
operations of the Borrower and its Subsidiaries for the

                                       24
<PAGE>
periods ended on such dates, all in accordance with generally accepted
accounting principles consistently applied. Since December 31, 2001, there has
been no Material Adverse Change.

                  (f) There is no pending or, to the knowledge of the Borrower,
threatened action, suit, investigation, litigation or proceeding, including,
without limitation, any Environmental Action, affecting the Borrower or any of
its Subsidiaries before any court, governmental agency or arbitrator that (i)
could be reasonably expected to have a Material Adverse Effect or (ii) purports
to affect the legality, validity or enforceability of this Agreement or any Note
or the consummation of the transactions contemplated hereby.

                  (g) The Borrower is not engaged in the business of extending
credit for the purpose of purchasing or carrying margin stock (within the
meaning of Regulation U issued by the Board of Governors of the Federal Reserve
System), and no proceeds of any Advance will be used to purchase or carry any
margin stock or to extend credit to others for the purpose of purchasing or
carrying any margin stock.

                  (h) The Borrower is not an "investment company", or a company
"controlled" by an "investment company", within the meaning of the Investment
Company Act of 1940, as amended.

                                    ARTICLE V
                            COVENANTS OF THE BORROWER

                  SECTION 5.01. Affirmative Covenants. So long as any Advance
shall remain unpaid or any Lender shall have any Commitment hereunder, the
Borrower will:

                  (a) Compliance with Laws, Etc. Comply, and cause each of its
Subsidiaries to comply, in all material respects, with all applicable laws,
rules, regulations and orders, such compliance to include, without limitation,
compliance with ERISA and Environmental Laws.

                  (b) Payment of Taxes, Etc. Pay and discharge, and cause each
of its Subsidiaries to pay and discharge, before the same shall become
delinquent, (i) all taxes, assessments and governmental charges or levies
imposed upon it or upon its property and (ii) all lawful claims that, if unpaid,
might by law become a Lien upon its property; provided, however, that neither
the Borrower nor any of its Subsidiaries shall be required to pay or discharge
any such tax, assessment, charge or claim that (i) does not singly or in the
aggregate exceed $25,000,000 or (ii) is being contested in good faith and by
proper proceedings and as to which appropriate reserves are being maintained,
unless and until any Lien resulting therefrom attaches to its property and
becomes enforceable against its other creditors.

                  (c) Maintenance of Insurance. Maintain, and cause each of its
Subsidiaries to maintain, insurance with responsible and reputable insurance
companies or associations in such amounts and covering such risks as is usually
carried by companies engaged in similar businesses and owning similar properties
in the same general areas in which the Borrower or such Subsidiary operates.

                  (d) Preservation of Corporate Existence, Etc. Preserve and
maintain, and cause each of its Subsidiaries to preserve and maintain, its
corporate existence, rights (charter and statutory) and franchises; provided,
however, that (i) the Borrower and its Subsidiaries may consummate any
transaction permitted under Section 5.02(b), (ii) any Subsidiary the aggregate
book value of the assets of which is less than $65,000,000 will not be subject
to this Section 5.01(d) and (iii) neither the Borrower nor any of its
Subsidiaries shall be required to preserve any right or franchise or, in the
case of any immaterial Subsidiary, its existence, if the Borrower or such
Subsidiary shall determine that the preservation thereof is no longer desirable
in the conduct of the business of the Borrower or such Subsidiary, as the case
may be, and that the loss thereof is not disadvantageous in any material respect
to the Borrower, such Subsidiary or the Lenders.

                                       25
<PAGE>
                  (e) Visitation Rights. At any reasonable time and from time to
time upon reasonable notice, permit the Agent or any of the Lenders or any
agents or representatives thereof, to examine and make copies of and abstracts
from the records and books of account of, and visit the properties of, the
Borrower and any of its Subsidiaries, and to discuss the affairs, finances and
accounts of the Borrower and any of its Subsidiaries with any of their officers
or directors and with their independent certified public accountants.

                  (f) Keeping of Books. Keep, and cause each of its Subsidiaries
to keep, proper books of record and account, in which full and correct entries
shall be made of all financial transactions and the assets and business of the
Borrower and each such Subsidiary in accordance with generally accepted
accounting principles in effect from time to time.

                  (g) Maintenance of Properties, Etc. Maintain and preserve, and
cause each of its Subsidiaries to maintain and preserve, all of its material
properties that are used or useful in the conduct of its business in good
working order and condition, ordinary wear and tear excepted.

                  (h) Transactions with Affiliates. Conduct, and cause each of
its Subsidiaries to conduct, all transactions otherwise permitted under this
Agreement with any of their Affiliates (other than the Borrower and its
Subsidiaries) on terms that are fair and reasonable and no less favorable to the
Borrower or such Subsidiary than it would obtain in a comparable arm's-length
transaction with a Person not an Affiliate, except for transactions with joint
ventures in which the Borrower owns, directly or indirectly, an interest of at
least 20%, which could not, singly or in the aggregate, reasonably be expected
to have a Material Adverse Effect.

                  (i) Reporting Requirements. Furnish to the Lenders:

                  (i) as soon as available and in any event within 45 days after
         the end of each of the first three quarters of each fiscal year of the
         Borrower, the Consolidated balance sheet of the Borrower and its
         Subsidiaries as of the end of such quarter and Consolidated statements
         of income and cash flows of the Borrower and its Subsidiaries for the
         period commencing at the end of the previous fiscal year and ending
         with the end of such quarter, duly certified (subject to year-end audit
         adjustments) by the chief financial officer or treasurer of the
         Borrower as having been prepared in accordance with generally accepted
         accounting principles and certificates of the chief financial officer
         or treasurer of the Borrower as to compliance with the terms of this
         Agreement and setting forth in reasonable detail the calculations
         necessary to demonstrate compliance with Section 5.03, provided that in
         the event of any change in generally accepted accounting principles
         used in the preparation of such financial statements, the Borrower
         shall also provide, if necessary for the determination of compliance
         with Section 5.03, a statement of reconciliation conforming such
         financial statements to GAAP;

                  (ii) as soon as available and in any event within 90 days
         after the end of each fiscal year of the Borrower, a copy of the annual
         audit report for such year for the Borrower and its Subsidiaries,
         containing the Consolidated balance sheet of the Borrower and its
         Subsidiaries as of the end of such fiscal year and Consolidated
         statements of income and cash flows of the Borrower and its
         Subsidiaries for such fiscal year, in each case accompanied by an
         opinion without a "going concern" or like qualification or exception,
         or qualification arising out of the scope of the audit, acceptable to
         the Required Lenders by KPMG LLP or other independent public
         accountants of nationally recognized standing and certificates of the
         chief financial officer or treasurer of the Borrower as to compliance
         with the terms of this Agreement and setting forth in reasonable detail
         the calculations necessary to demonstrate compliance with Section 5.03,
         provided that in the event of any change in generally accepted
         accounting principles used in the preparation of such financial
         statements, the Borrower shall also provide, if necessary for the
         determination of compliance with Section 5.03, a statement of
         reconciliation conforming such financial statements to GAAP;

                                       26
<PAGE>
                  (iii) as soon as possible and in any event within five days
         after the occurrence of each Default continuing on the date of such
         statement, a statement of the chief financial officer or treasurer of
         the Borrower setting forth details of such Default and the action that
         the Borrower has taken and proposes to take with respect thereto;

                  (iv) promptly after the sending or filing thereof, copies of
         all reports that the Borrower sends to any of its securityholders, and
         copies of all reports and registration statements that the Borrower or
         any Subsidiary files with the Securities and Exchange Commission;

                  (v) promptly after the commencement (or, if later, promptly
         after the Borrower becomes aware) thereof, notice of all actions and
         proceedings before any court, governmental agency or arbitrator
         affecting the Borrower or any of its Subsidiaries of the type described
         in Section 4.01(f);

                  (vi) promptly after the Borrower becomes aware thereof, notice
         of a development or event which could reasonably be expected to have a
         Material Adverse Effect; and

                  (vii) such other information respecting the Borrower or any of
         its Subsidiaries as any Lender through the Agent may from time to time
         reasonably request.

                  (j) Change in Nature of Business. Continue, and cause its
Subsidiaries to continue, to engage in business of the same general type as
conducted by it and its Subsidiaries, taken as a whole, on the date hereof.

                  SECTION 5.02. Negative Covenants. So long as any Advance shall
remain unpaid or any Lender shall have any Commitment hereunder, the Borrower
will not:

                  (a) Liens, Etc. Create or suffer to exist, or permit any of
its Subsidiaries to create or suffer to exist, any Lien on or with respect to
any of its properties, whether now owned or hereafter acquired, or assign, or
permit any of its Subsidiaries to assign, any right to receive income, other
than:

                  (i) Permitted Liens and Liens on assets of Subsidiaries of the
         Borrower for the benefit of other Subsidiaries of the Borrower or for
         the benefit of the Borrower,

                  (ii) purchase money Liens upon or in any assets acquired or
         held by the Borrower or any Subsidiary in the ordinary course of
         business to secure the purchase price of such assets or to secure Debt
         incurred solely for the purpose of financing the acquisition of such
         assets, or Liens existing on such assets at the time of or
         substantially contemporaneously with its acquisition (other than any
         such Liens created in contemplation of such acquisition that were not
         incurred to finance the acquisition of such assets) or extensions,
         renewals or replacements of any of the foregoing for the same or a
         lesser amount, provided, however, that no such Lien shall extend to or
         cover any properties of any character other than the assets being
         acquired, and no such extension, renewal or replacement shall extend to
         or cover any properties not theretofore subject to the Lien being
         extended, renewed or replaced.

                  (iii) the Liens existing on the Effective Date and described
         on Schedule 5.02(a) hereto,

                  (iv) Liens on property of a Person existing at the time such
         Person is merged into or consolidated with the Borrower or any
         Subsidiary of the Borrower or becomes a Subsidiary of the Borrower;
         provided that such Liens were not created in contemplation of such
         merger, consolidation or acquisition and do not extend to any assets
         other than those of the Person so merged into or consolidated with the
         Borrower or such Subsidiary or acquired by the Borrower or such
         Subsidiary,

                                       27
<PAGE>
                  (v) the replacement, extension or renewal of any Lien
         permitted by clause (iii) or (iv) above upon or in the same property
         theretofore subject thereto or the replacement, extension or renewal
         (without increase in the amount or change in any direct or contingent
         obligor) of the Debt secured thereby,

                  (vi) Liens on any capital stock which is not Voting Stock, and
         on not more than 20% of the Voting Stock, of any Foreign Subsidiary
         securing Debt of the Borrower or any Foreign Subsidiary in an aggregate
         amount at any time outstanding for the Borrower and all Foreign
         Subsidiaries not to exceed 25% of Net Worth; and

                  (vii) Liens not otherwise permitted by this Section 5.02(a)
         securing obligations in an aggregate amount not to exceed 10% of Net
         Worth.

                  (b) Mergers, Etc. Merge or consolidate with or into, or
convey, transfer, lease or otherwise dispose of (whether in one transaction or
in a series of transactions) all or substantially all of its assets (whether now
owned or hereafter acquired) to, any Person, or permit any of its Subsidiaries
to do so, except that (i) any Subsidiary of the Borrower may merge or
consolidate with or into, or dispose of assets to, any other Subsidiary of the
Borrower, (ii) any Subsidiary of the Borrower may merge into or dispose of
assets to the Borrower and (iii) any Subsidiary of the Borrower may sell, lease,
transfer or otherwise dispose of any or all of its assets in connection with an
investment in a joint venture engaged in a business of the same general type as
that engaged in by the Borrower and its Subsidiaries, provided, in each case,
that no Default shall have occurred and be continuing at the time of such
proposed transaction or would result therefrom and provided, further, that any
Subsidiary of the Borrower the then aggregate book value of the assets of which
is less than $65,000,000 shall not be subject to this Section 5.02(b).

                  (c) Accounting Changes. Make or permit, or permit any of its
Subsidiaries to make or permit, any change in accounting policies or reporting
practices, except as required or permitted by generally accepted accounting
principles.

                  SECTION 5.03. Financial Covenants. So long as any Advance
shall remain unpaid or any Lender shall have any Commitment hereunder, the
Borrower will:

                  (a) Interest Coverage Ratio. Maintain a ratio of Consolidated
EBITDA of the Borrower and its Subsidiaries for the period of four fiscal
quarters most recently ended to Consolidated interest expense of the Borrower
and its Subsidiaries for that period as reported on the Consolidated statements
of income (or comparable statement) of not less than 3.50 : 1.00

                  (b) Covenant Debt to Capital. Maintain a ratio of Consolidated
Covenant Debt to the sum of Consolidated Covenant Debt plus Net Worth of not
greater than the ratio set forth below measured as of the end of each fiscal
quarter during the year set forth below:

<TABLE>
<CAPTION>
Year                        Ratio
----                        -----
<S>                       <C>
2002                      0.57 : 1.00

2003                      0.52 : 1.00

2004 and thereafter       0.50 : 1.00
</TABLE>

                                   ARTICLE VI

                                EVENTS OF DEFAULT

                  SECTION 6.01. Events of Default. If any of the following
events ("Events of Default") shall occur and be continuing:

                                       28
<PAGE>
                  (a) The Borrower shall fail to pay any principal of any
Advance when the same becomes due and payable; or the Borrower shall fail to pay
any interest on any Advance or make any other payment of fees or other amounts
payable under this Agreement or any Note within five Business Days after the
same becomes due and payable; or

                  (b) Any representation or warranty made by the Borrower herein
or by the Borrower (or any of its officers) in connection with this Agreement
shall prove to have been incorrect in any material respect when made; or

                  (c) (i) The Borrower shall fail to perform or observe any
term, covenant or agreement contained in Section 5.01(d), (e), (h) or (i), 5.02
or 5.03, or (ii) the Borrower shall fail to perform or observe any other term,
covenant or agreement contained in this Agreement on its part to be performed or
observed if such failure shall remain unremedied for 30 days after written
notice thereof shall have been given to the Borrower by the Agent or any Lender;
or

                  (d) The Borrower or any of its Subsidiaries shall fail to pay
any principal of or premium or interest on any Debt that is outstanding in a
principal or notional amount of at least $25,000,000 in the aggregate (but
excluding Debt outstanding hereunder) of the Borrower or such Subsidiary (as the
case may be), when the same becomes due and payable (whether by scheduled
maturity, required prepayment, acceleration, demand or otherwise), and such
failure shall continue after the applicable grace period, if any, specified in
the agreement or instrument relating to such Debt; or any other event shall
occur or condition shall exist under any agreement or instrument relating to any
such Debt and shall continue after the applicable grace period, if any,
specified in such agreement or instrument, if the effect of such event or
condition is to accelerate, or to permit the acceleration of, the maturity of
such Debt; or any such Debt shall be declared to be due and payable, or required
to be prepaid or redeemed (other than by a regularly scheduled required
prepayment or redemption), purchased or defeased, or an offer to prepay, redeem,
purchase or defease such Debt shall be required to be made, in each case prior
to the stated maturity thereof; or

                  (e) The Borrower or any of its Subsidiaries shall generally
not pay its debts as such debts become due, or shall admit in writing its
inability to pay its debts generally, or shall make a general assignment for the
benefit of creditors; or any proceeding shall be instituted by or against the
Borrower or any of its Subsidiaries seeking to adjudicate it a bankrupt or
insolvent, or seeking liquidation, winding up, reorganization, arrangement,
adjustment, protection, relief, or composition of it or its debts under any law
relating to bankruptcy, insolvency or reorganization or relief of debtors, or
seeking the entry of an order for relief or the appointment of a receiver,
trustee, custodian or other similar official for it or for any substantial part
of its property and, in the case of any such proceeding instituted against it
(but not instituted by it), either such proceeding shall remain undismissed or
unstayed for a period of 30 days, or any of the actions sought in such
proceeding (including, without limitation, the entry of an order for relief
against, or the appointment of a receiver, trustee, custodian or other similar
official for, it or for any substantial part of its property) shall occur; or
the Borrower or any of its Subsidiaries shall take any corporate action to
authorize any of the actions set forth above in this subsection (e); or

                  (f) Judgments or orders for the payment of money in excess of
$25,000,000 in the aggregate shall be rendered against the Borrower or any of
its Subsidiaries and either (i) enforcement proceedings shall have been
commenced by any creditor upon such judgment or order or (ii) there shall be any
period of 10 consecutive days during which a stay of enforcement of such
judgment or order, by reason of a pending appeal or otherwise, shall not be in
effect; or

                  (g) (i) Any Person or two or more Persons acting in concert
shall have acquired beneficial ownership (within the meaning of Rule 13d-3 of
the Securities and Exchange Commission under the Securities Exchange Act of
1934), directly or indirectly, of Voting Stock of the Borrower (or other
securities convertible into such Voting Stock) representing 30% or more of the
combined voting power of all Voting Stock of the Borrower; or (ii) during any
period of up to 24 consecutive months, commencing

                                       29
<PAGE>
before or after the date of this Agreement, individuals who at the beginning of
such 24-month period were directors of the Borrower shall cease for any reason
to constitute a majority of the board of directors of the Borrower (except to
the extent that individuals who at the beginning of such 24-month period were
replaced by individuals (x) elected by a majority of the remaining members of
the board of directors of the Borrower or (y) nominated for election by a
majority of the remaining members of the board of directors of the Borrower and
thereafter elected as directors by the shareholders of the Borrower) or

                  (i) The Borrower or any of its ERISA Affiliates shall incur,
         or, in the reasonable opinion of the Required Lenders, shall be
         reasonably likely to incur liability in excess of $25,000,000 in the
         aggregate as a result of one or more of the following: (i) the
         occurrence of any ERISA Event; (ii) the partial or complete withdrawal
         of the Borrower or any of its ERISA Affiliates from a Multiemployer
         Plan; or (iii) the reorganization or termination of a Multiemployer
         Plan;

then, and in any such event, the Agent (i) shall at the request, or may with the
consent, of the Required Lenders, by notice to the Borrower, declare the
obligation of each Lender to make Advances to be terminated, whereupon the same
shall forthwith terminate, and (ii) shall at the request, or may with the
consent, of the Required Lenders, by notice to the Borrower, declare the
Advances, all interest thereon and all other amounts payable under this
Agreement to be forthwith due and payable, whereupon the Advances, all such
interest and all such amounts shall become and be forthwith due and payable,
without presentment, demand, protest or further notice of any kind, all of which
are hereby expressly waived by the Borrower; provided, however, that in the
event of an actual or deemed entry of an order for relief with respect to the
Borrower under the Federal Bankruptcy Code, (A) the obligation of each Lender to
make Advances shall automatically be terminated and (B) the Advances, all such
interest and all such amounts shall automatically become and be due and payable,
without presentment, demand, protest or any notice of any kind, all of which are
hereby expressly waived by the Borrower.

                                   ARTICLE VII

                                    THE AGENT

                  SECTION 7.01. Authorization and Action. Each Lender hereby
appoints and authorizes the Agent to take such action as agent on its behalf and
to exercise such powers and discretion under this Agreement as are delegated to
the Agent by the terms hereof, together with such powers and discretion as are
reasonably incidental thereto. As to any matters not expressly provided for by
this Agreement (including, without limitation, enforcement or collection of the
Notes), the Agent shall not be required to exercise any discretion or take any
action, but shall be required to act or to refrain from acting (and shall be
fully protected in so acting or refraining from acting) upon the instructions of
the Required Lenders, and such instructions shall be binding upon all Lenders
and all holders of Notes; provided, however, that the Agent shall not be
required to take any action that exposes the Agent to personal liability or that
is contrary to this Agreement or applicable law. The Agent agrees to give to
each Lender prompt notice of each notice given to it by the Borrower pursuant to
the terms of this Agreement.

                  SECTION 7.02. Agent's Reliance, Etc. Neither the Agent nor any
of its directors, officers, agents or employees shall be liable for any action
taken or omitted to be taken by it or them under or in connection with this
Agreement, except for its or their own gross negligence or willful misconduct.
Without limitation of the generality of the foregoing, the Agent: (i) may treat
the Lender that made any Advance as the holder of the Debt resulting therefrom
until the Agent receives and accepts an Assignment and Acceptance entered into
by such Lender, as assignor, and an Eligible Assignee, as assignee, as provided
in Section 8.07; (ii) may consult with legal counsel (including counsel for the
Borrower), independent public accountants and other experts selected by it and
shall not be liable for any action taken or omitted to be taken in good faith by
it in accordance with the advice of such counsel, accountants or experts; (iii)
makes no warranty or representation to any Lender and shall not be responsible
to any Lender for any statements, warranties or representations (whether written
or oral) made in or in connection with this Agreement; (iv) shall not have any
duty to ascertain or to inquire as to the performance, observance or
satisfaction of any of the terms, covenants or conditions of this Agreement on
the part of the Borrower or the existence at any time of any Default or to
inspect the property (including the books and records) of the Borrower; (v)
shall not be responsible to any Lender for the due execution, legality,
validity, enforceability, genuineness, sufficiency or value of this Agreement or
any other instrument or document furnished pursuant hereto; and (vi) shall

                                       30
<PAGE>
incur no liability under or in respect of this Agreement by acting upon any
notice, consent, certificate or other instrument or writing (which may be by
telecopier, telegram or telex) believed by it to be genuine and signed or sent
by the proper party or parties.

                  SECTION 7.03. Citibank and Affiliates. With respect to its
Commitment, the Advances made by it and the Note issued to it, Citibank shall
have the same rights and powers under this Agreement as any other Lender and may
exercise the same as though it were not the Agent; and the term "Lender" or
"Lenders" shall, unless otherwise expressly indicated, include Citibank in its
individual capacity. Citibank and its Affiliates may accept deposits from, lend
money to, act as trustee under indentures of, accept investment banking
engagements from and generally engage in any kind of business with, the
Borrower, any of its Subsidiaries and any Person who may do business with or own
securities of the Borrower or any such Subsidiary, all as if Citibank were not
the Agent and without any duty to account therefor to the Lenders. The Agent
shall have no duty to disclose information obtained or received by it or any of
its Affiliates relating to the Borrower or its Subsidiaries to the extent such
information was obtained or received in any capacity other than as Agent.

                  SECTION 7.04. Lender Credit Decision. Each Lender acknowledges
that it has, independently and without reliance upon the Agent or any other
Lender and based on the financial statements referred to in Section 4.01 and
such other 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 Agent 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 this Agreement.

                  SECTION 7.05. Indemnification. The Lenders agree to indemnify
the Agent (to the extent not reimbursed by the Borrower) from and against such
Lender's Ratable Share of any and all liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements of any
kind or nature whatsoever that may be imposed on, incurred by, or asserted
against the Agent in any way relating to or arising out of this Agreement or any
action taken or omitted by the Agent under this Agreement (collectively, the
"Indemnified Costs"), provided that no Lender shall be liable for any portion of
the Indemnified Costs resulting from the Agent's gross negligence or willful
misconduct. Without limitation of the foregoing, each Lender agrees to reimburse
the Agent promptly upon demand for its ratable share of any out-of-pocket
expenses (including reasonable counsel fees) incurred by the Agent in connection
with the preparation, execution, delivery, administration, modification,
amendment or enforcement (whether through negotiations, legal proceedings or
otherwise) of, or legal advice in respect of rights or responsibilities under,
this Agreement, to the extent that the Agent is not reimbursed for such expenses
by the Borrower. In the case of any investigation, litigation or proceeding
giving rise to any Indemnified Costs, this Section 7.05 applies whether any such
investigation, litigation or proceeding is brought by the Agent, any Lender or a
third party.

                  SECTION 7.06. Successor Agent. The Agent may resign at any
time by giving written notice thereof to the Lenders and the Borrower and may be
removed at any time with or without cause by the Required Lenders. Upon any such
resignation or removal, the Required Lenders shall have the right to appoint a
successor Agent. If no successor Agent shall have been so appointed by the
Required Lenders, and shall have accepted such appointment, within 30 days after
the retiring Agent's giving of notice of resignation or the Required Lenders'
removal of the retiring Agent, then the retiring Agent may, on behalf of the
Lenders, appoint a successor Agent, which shall be a commercial bank organized
under the laws of the United States of America or of any State thereof and
having a combined capital and surplus of at least $500,000,000. Upon the
acceptance of any appointment as Agent hereunder by a successor Agent, such
successor Agent shall thereupon succeed to and become vested with all the
rights, powers, discretion, privileges and duties of the retiring Agent, and the
retiring Agent shall be discharged from its duties and obligations under this
Agreement. After any retiring Agent's resignation or removal hereunder as Agent,
the provisions of this Article VII shall inure to its benefit as to any actions
taken or omitted to be taken by it while it was Agent under this Agreement.

                  SECTION 7.07. Other Agents. Each Lender hereby acknowledges
that neither the documentation agent nor any other Lender designated as any
"Agent" on the signature pages hereof has any liability hereunder other than in
its capacity as a Lender.

                                       31

<PAGE>
                                                                     EXHIBIT 4.1

                                  ARTICLE VIII

                                  MISCELLANEOUS

            SECTION 8.01. Amendments, Etc. No amendment or waiver of any
provision of this Agreement or the Revolving Credit Notes, nor consent to any
departure by the Borrower therefrom, shall in any event be effective unless the
same shall be in writing and signed by the Required Lenders, and then such
waiver or consent shall be effective only in the specific instance and for the
specific purpose for which given; provided, however, that no amendment, waiver
or consent shall, unless in writing and signed by all the Lenders, do any of the
following: (a) waive any of the conditions specified in Section 3.01, (b)
increase the aggregate Revolving Credit Commitments of the Lenders, (c) reduce
the principal of, or interest on, the Revolving Credit Advances or any fees or
other amounts payable hereunder, (d) postpone any date fixed for any payment of
principal of, or interest on, the Revolving Credit Advances or any fees or other
amounts payable hereunder, (e) change the percentage of the Revolving Credit
Commitments or of the aggregate unpaid principal amount of the Revolving Credit
Advances, or the number of Lenders, that shall be required for the Lenders or
any of them to take any action hereunder or (f) amend this Section 8.01; and
provided further that no amendment, waiver or consent shall, unless in writing
and signed by the Agent in addition to the Lenders required above to take such
action, affect the rights or duties of the Agent under this Agreement or any
Note.

            SECTION 8.02. Notices, Etc. All notices and other communications
provided for hereunder shall be in writing (including telecopier, telegraphic or
telex communication) and mailed, telecopied, telegraphed, telexed or delivered,
if to the Borrower, at its address at 631 South Richland Avenue, York,
Pennsylvania 17403, Attention: Treasurer, Telephone: (717) 771-7438, Fax: (717)
771-6843; if to any Initial Lender, at its Domestic Lending Office specified
opposite its name on Schedule I hereto; if to any other Lender, at its Domestic
Lending Office specified in the Assignment and Acceptance pursuant to which it
became a Lender; and if to the Agent, at its address at Two Penns Way, New
Castle, Delaware 19720, Attention: Bank Loan Syndications Department; or, as to
the Borrower or the Agent, at such other address as shall be designated by such
party in a written notice to the other parties and, as to each other party, at
such other address as shall be designated by such party in a written notice to
the Borrower and the Agent. All such notices and communications shall, when
mailed, telecopied, telegraphed or telexed, be effective when deposited in the
mails, telecopied, delivered to the telegraph company or confirmed by telex
answerback, respectively, except that notices and communications to the Agent
pursuant to Article II, III or VII shall not be effective until received by the
Agent. Delivery by telecopier of an executed counterpart of any amendment or
waiver of any provision of this Agreement or the Notes or of any Exhibit hereto
to be executed and delivered hereunder shall be effective as delivery of a
manually executed counterpart thereof.

            SECTION 8.03. No Waiver; Remedies. No failure on the part of any
Lender or the Agent to exercise, and no delay in exercising, any right hereunder
or under any Note shall operate as a waiver thereof; nor shall any single or
partial exercise of any such right preclude any other or further exercise
thereof or the exercise of any other right. The remedies herein provided are
cumulative and not exclusive of any remedies provided by law.

            SECTION 8.04. Costs and Expenses. (a) The Borrower agrees to pay on
demand all costs and expenses of the Agent in connection with the preparation,
execution, delivery, administration, modification and amendment of this
Agreement, the Notes and the other documents to be delivered hereunder,
including, without limitation, (A) all due diligence, syndication (including
printing, distribution and bank meetings), transportation, computer,
duplication, appraisal, consultant, and audit expenses and (B) the reasonable
fees and expenses of counsel for the Agent with respect thereto and with respect
to advising the Agent as to its rights and responsibilities under this
Agreement. The Borrower further agrees to pay on demand all costs and expenses
of the Agent and the Lenders, if any (including, without limitation, reasonable
counsel fees and expenses), in connection with the enforcement (whether through
negotiations, legal proceedings or otherwise) of this Agreement, the Notes and
the other documents to be delivered hereunder, including, without limitation,
reasonable fees and expenses of counsel for the Agent and each Lender in
connection with the enforcement of rights under this Section 8.04(a).

            (b) The Borrower agrees to indemnify and hold harmless the Agent and
each Lender and each of their Affiliates and their officers, directors,
employees, agents and advisors (each, an "Indemnified Party") from and against
any and all claims, damages, losses, liabilities and expenses (including,
without limitation, reasonable fees and expenses of counsel) incurred by or
asserted or awarded against any Indemnified Party, in each

                                       32
<PAGE>
case arising out of or in connection with or by reason of (including, without
limitation, in connection with any investigation, litigation or proceeding or
preparation of a defense in connection therewith) (i) the Notes, this Agreement,
any of the transactions contemplated herein or the actual or proposed use of the
proceeds of the Advances or (ii) the actual or alleged presence of Hazardous
Materials on any property of the Borrower or any of its Subsidiaries or any
Environmental Action relating in any way to the Borrower or any of its
Subsidiaries, except to the extent such claim, damage, loss, liability or
expense is found by a court of competent jurisdiction to have resulted from such
Indemnified Party's gross negligence or willful misconduct. In the case of an
investigation, litigation or other proceeding to which the indemnity in this
Section 8.04(b) applies, such indemnity shall be effective whether or not such
investigation, litigation or proceeding is brought by the Borrower, its
directors, equityholders or creditors or an Indemnified Party or any other
Person, whether or not any Indemnified Party is otherwise a party thereto and
whether or not the transactions contemplated hereby are consummated. The
Borrower also agrees not to assert any claim for special, indirect,
consequential or punitive damages against the Agent, any Lender, any of their
Affiliates, or any of their respective directors, officers, employees, attorneys
and agents, on any theory of liability, arising out of or otherwise relating to
the Notes, this Agreement, any of the transactions contemplated herein or the
actual or proposed use of the proceeds of the Advances.

            (c) If any payment of principal of, or Conversion of, any Eurodollar
Rate Advance or LIBO Rate Advance is made by the Borrower to or for the account
of a Lender other than on the last day of the Interest Period for such Advance,
as a result of a payment or Conversion pursuant to Section 2.08(d) or (e), 2.10
or 2.12, acceleration of the maturity of the Notes pursuant to Section 6.01 or
for any other reason, or by an Eligible Assignee to a Lender other than on the
last day of the Interest Period for such Advance upon an assignment of rights
and obligations under this Agreement pursuant to Section 8.07 as a result of a
demand by the Borrower pursuant to Section 8.07(a), the Borrower shall, upon
demand by such Lender (with a copy of such demand to the Agent), pay to the
Agent for the account of such Lender any amounts required to compensate such
Lender for any additional losses, costs or expenses that it may reasonably incur
as a result of such payment or Conversion, including, without limitation, any
loss (excluding loss of anticipated profits), cost or expense incurred by reason
of the liquidation or reemployment of deposits or other funds acquired by any
Lender to fund or maintain such Advance.

            (d) Without prejudice to the survival of any other agreement of the
Borrower hereunder, the agreements and obligations of the Borrower contained in
Sections 2.11, 2.14 and 8.04 shall survive the payment in full of principal,
interest and all other amounts payable hereunder and under the Notes.

            SECTION 8.05. Right of Set-off. Upon (i) the occurrence and during
the continuance of any Event of Default and (ii) the making of the request or
the granting of the consent specified by Section 6.01 to authorize the Agent to
declare the Notes due and payable pursuant to the provisions of Section 6.01,
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 indebtedness at any time owing by such Lender or such
Affiliate to or for the credit or the account of the Borrower against any and
all of the obligations of the Borrower now or hereafter existing under this
Agreement and the Note held by such Lender, whether or not such Lender shall
have made any demand under this Agreement or such Note and although such
obligations may be unmatured. Each Lender agrees promptly to notify the Borrower
after any such set-off and application, provided that the failure to give such
notice shall not affect the validity of such set-off and application. The rights
of each Lender and its Affiliates under this Section are in addition to other
rights and remedies (including, without limitation, other rights of set-off)
that such Lender and its Affiliates may have.

            SECTION 8.06. Binding Effect. This Agreement shall become effective
(other than Sections 2.01 and 2.03, which shall only become effective upon
satisfaction of the conditions precedent set forth in Section 3.01) when it
shall have been executed by the Borrower and the Agent and when the Agent shall
have been notified by each Initial Lender that such Initial Lender has executed
it and thereafter shall be binding upon and inure to the benefit of the
Borrower, the Agent and each Lender and their respective successors and assigns,
except that the Borrower shall not have the right to assign its rights hereunder
or any interest herein without the prior written consent of the Lenders.

            SECTION 8.07. Assignments and Participations. (a) Each Lender may
and, if demanded by the Borrower (following a demand by such Lender pursuant to
Section 2.11 or 2.14) upon at least five Business Days'

                                       33
<PAGE>
notice to such Lender and the Agent, will assign to one or more Persons all or a
portion of its rights and obligations under this Agreement (including, without
limitation, all or a portion of its Commitment, the Revolving Credit Advances
owing to it and the Revolving Credit Note or Notes held by it); provided,
however, that (i) each such assignment shall be of a constant, and not a
varying, percentage of all rights and obligations under this Agreement (other
than any right to make Competitive Bid Advances, Competitive Bid Advances owing
to it and Competitive Bid Notes), (ii) except in the case of an assignment to a
Person that, immediately prior to such assignment, was a Lender or an assignment
of all of a Lender's rights and obligations under this Agreement, the amount of
the Commitment of the assigning Lender being assigned pursuant to each such
assignment (determined as of the date of the Assignment and Acceptance with
respect to such assignment) shall in no event be less than $10,000,000 or an
integral multiple of $1,000,000 in excess thereof, (iii) each such assignment
shall be to an Eligible Assignee, (iv) each such assignment made as a result of
a demand by the Borrower pursuant to this Section 8.07(a) shall be arranged by
the Borrower after consultation with the Agent and shall be either an assignment
of all of the rights and obligations of the assigning Lender under this
Agreement or an assignment of a portion of such rights and obligations made
concurrently with another such assignment or other such assignments that
together cover all of the rights and obligations of the assigning Lender under
this Agreement, (v) no Lender shall be obligated to make any such assignment as
a result of a demand by the Borrower pursuant to this Section 8.07(a) unless and
until such Lender shall have received one or more payments from either the
Borrower or one or more Eligible Assignees in an aggregate amount at least equal
to the aggregate outstanding principal amount of the Advances owing to such
Lender, together with accrued interest thereon to the date of payment of such
principal amount and all other amounts payable to such Lender under this
Agreement, and (vi) the parties to each such assignment shall execute and
deliver to the Agent, for its acceptance and recording in the Register, an
Assignment and Acceptance, together with any Revolving Credit Note subject to
such assignment and a processing and recordation fee of $3,500 payable by the
parties to each such assignment, provided, however, that in the case of each
assignment made as a result of a demand by the Borrower, such recordation fee
shall be payable by the Borrower except that no such recordation fee shall be
payable in the case of an assignment made at the request of the Borrower to an
Eligible Assignee that is an existing Lender, and (vii) any Lender may, without
the approval of the Borrower and the Agent, assign all or a portion of its
rights to any of its Affiliates. Upon such execution, delivery, acceptance and
recording, from and after the effective date specified in each Assignment and
Acceptance, (x) the assignee thereunder shall be a party hereto and, to the
extent that rights and obligations hereunder have been assigned to it pursuant
to such Assignment and Acceptance, have the rights and obligations of a Lender
hereunder and (y) the Lender assignor thereunder shall, to the extent that
rights and obligations hereunder have been assigned by it pursuant to such
Assignment and Acceptance, relinquish its rights (other than its rights under
Section 2.11, 2.14 and 8.04 to the extent any claim thereunder relates to an
event arising prior such assignment) and be released from its obligations under
this Agreement (and, in the case of an Assignment and Acceptance covering all or
the remaining portion of an assigning Lender's rights and obligations under this
Agreement, such Lender shall cease to be a party hereto).

            (b) By executing and delivering an Assignment and Acceptance, the
Lender assignor thereunder and the assignee thereunder confirm to and agree with
each other and the other parties hereto as follows: (i) other than as provided
in such Assignment and Acceptance, such assigning Lender makes no representation
or warranty and assumes no responsibility with respect to any statements,
warranties or representations made in or in connection with this Agreement or
the execution, legality, validity, enforceability, genuineness, sufficiency or
value of this Agreement or any other instrument or document furnished pursuant
hereto; (ii) such assigning Lender makes no representation or warranty and
assumes no responsibility with respect to the financial condition of the
Borrower or the performance or observance by the Borrower of any of its
obligations under this Agreement or any other instrument or document furnished
pursuant hereto; (iii) such assignee confirms that it has received a copy of
this Agreement, together with copies of the financial statements referred to in
Section 4.01 and such other documents and information as it has deemed
appropriate to make its own credit analysis and decision to enter into such
Assignment and Acceptance; (iv) such assignee will, independently and without
reliance upon the Agent, such assigning Lender 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
this Agreement; (v) such assignee confirms that it is an Eligible Assignee; (vi)
such assignee appoints and authorizes the Agent to take such action as agent on
its behalf and to exercise such powers and discretion under this Agreement as
are delegated to the Agent by the terms hereof, together with such powers and
discretion as are reasonably incidental thereto; and (vii) such assignee agrees
that it will perform in accordance with their terms all of the obligations that
by the terms of this Agreement are required to be performed by it as a Lender.

                                       34
<PAGE>
            (c) Upon its receipt of an Assignment and Acceptance executed by an
assigning Lender and an assignee representing that it is an Eligible Assignee,
together with any Revolving Credit Note or Notes subject to such assignment, the
Agent shall, if such Assignment and Acceptance has been completed and is in
substantially the form of Exhibit C hereto, (i) accept such Assignment and
Acceptance, (ii) record the information contained therein in the Register and
(iii) give prompt notice thereof to the Borrower.

            (d) The Agent shall maintain at its address referred to in Section
8.02 a copy of each Assignment and Acceptance delivered to and accepted by it
and a register for the recordation of the names and addresses of the Lenders and
the Revolving Credit Commitment of, and principal amount of the Advances owing
to, each Lender from time to time (the "Register"). The entries in the Register
shall be conclusive and binding for all purposes, absent manifest error, and the
Borrower, the Agent and the Lenders may treat each Person whose name is recorded
in the Register as a Lender hereunder for all purposes of this Agreement. The
Register shall be available for inspection by the Borrower or any Lender at any
reasonable time and from time to time upon reasonable prior notice.

            (e) Each Lender may sell participations to one or more banks or
other entities (other than the Borrower or any of its Affiliates) in or to all
or a portion of its rights and obligations under this Agreement (including,
without limitation, all or a portion of its Revolving Credit Commitment, the
Advances owing to it and any Note or Notes held by it); provided, however, that
(i) such Lender's obligations under this Agreement (including, without
limitation, its Revolving Credit Commitment to the Borrower hereunder) shall
remain unchanged, (ii) such Lender shall remain solely responsible to the other
parties hereto for the performance of such obligations, (iii) such Lender shall
remain the holder of any such Note for all purposes of this Agreement, (iv) the
Borrower, the Agent 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 and (v) no participant under any such
participation shall have any right to approve any amendment or waiver of any
provision of this Agreement or any Note, or any consent to any departure by the
Borrower therefrom, except to the extent that such amendment, waiver or consent
would reduce the principal of, or interest on, the Notes or any fees or other
amounts payable hereunder, in each case to the extent subject to such
participation, or postpone any date fixed for any payment of principal of, or
interest on, the Notes or any fees or other amounts payable hereunder, in each
case to the extent subject to such participation.

            (f) Any Lender may, in connection with any assignment or
participation or proposed assignment or participation pursuant to this Section
8.07, disclose to the assignee or participant or proposed assignee or
participant, any information relating to the Borrower furnished to such Lender
by or on behalf of the Borrower; provided that, prior to any such disclosure,
the assignee or participant or proposed assignee or participant shall agree to
preserve the confidentiality of any Confidential Information relating to the
Borrower received by it from such Lender.

            (g) Notwithstanding any other provision set forth in this Agreement,
any Lender may at any time create a security interest in all or any portion of
its rights under this Agreement (including, without limitation, the Advances
owing to it and any Note or Notes held by it) in favor of any Federal Reserve
Bank in accordance with Regulation A of the Board of Governors of the Federal
Reserve System.

            SECTION 8.08. Confidentiality. Neither the Agent nor any Lender
shall disclose any Confidential Information to any other Person without the
consent of the Borrower, other than (a) to the Agent's or such Lender's
Affiliates and their officers, directors, employees, agents and advisors and, as
contemplated by Section 8.07(f), to actual or prospective assignees and
participants, and then only on a confidential basis, (b) as required by any law,
rule or regulation or judicial process and (c) as requested or required by any
state, federal or foreign authority or examiner regulating banks or banking.

         SECTION 8.09. Governing Law. This Agreement and the Notes shall be
governed by, and construed in accordance with, the laws of the State of New
York.

            SECTION 8.10. Execution in Counterparts. This Agreement may be
executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute one and the same
agreement. Delivery of

                                       35
<PAGE>
an executed counterpart of a signature page to this Agreement by telecopier
shall be effective as delivery of a manually executed counterpart of this
Agreement.

            SECTION 8.11. Jurisdiction, Etc. (a) Each of the parties hereto
hereby irrevocably and unconditionally submits, for itself and its property, to
the nonexclusive jurisdiction of any New York State court or federal court of
the United States of America sitting in New York City, and any appellate court
from any thereof, in any action or proceeding arising out of or relating to this
Agreement or the Notes, 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 any such New York State court or, to the extent permitted by law,
in such federal court. The Borrower hereby agrees that service of process in any
such action or proceeding brought in the any such New York State court or in
such federal court may be made by the mailing thereof by any parties hereto by
registered or certified mail, postage prepaid, to the Borrower at its address
specified pursuant to Section 8.02. Each of the parties hereto agrees that a
final judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner
provided by law. Nothing in this Agreement shall affect any right that any party
may otherwise have to bring any action or proceeding relating to this Agreement
or the Notes in the courts of any jurisdiction.

            (b) Each of the parties hereto irrevocably and unconditionally
waives, to the fullest extent it may legally and effectively do so, any
objection that it may now or hereafter have to the laying of venue of any suit,
action or proceeding arising out of or relating to this Agreement or the Notes
in any New York State or federal court. 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.

                                       36
<PAGE>
            SECTION 8.12. Waiver of Jury Trial. Each of the Borrower, the Agent
and the Lenders hereby irrevocably waives all right to trial by jury in any
action, proceeding or counterclaim (whether based on contract, tort or
otherwise) arising out of or relating to this Agreement or the Notes or the
actions of the Agent or any Lender in the negotiation, administration,
performance or enforcement thereof.

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

<TABLE>
                                          YORK INTERNATIONAL CORPORATION
<S>                           <C>

                                          By __________________________
                                             Title:

                                          CITIBANK, N.A.,
                                             as Administrative Agent

                                          By __________________________
                                             Title:

                              Administrative Agent

$29,000,000.00                            CITIBANK, N.A.

                                          By _______________________
                                             Name:
                                             Title:

                                Syndication Agent

$29,000,000.00                            JPMORGAN CHASE BANK

                                          By _______________________
                                             Name:
                                             Title:

                              Documentation Agents

$29,000,000.00                            BANK OF TOKYO-MITSUBISHI TRUST COMPANY

                                          By _______________________
                                             Name:
                                             Title:

$29,000,000.00                            FLEET NATIONAL BANK

                                          By _______________________
                                             Name:
                                             Title:
</TABLE>

                                       37
<PAGE>
<TABLE>
<S>                          <C>
$29,000,000.00                            NORDEA BANK FINLAND PLC

                                          By _______________________
                                             Name:
                                             Title:

                                          By _______________________
                                             Name:
                                             Title:

                             Senior Managing Agents

$24,000,000.00                            WACHOVIA BANK, NATIONAL ASSOCIATION

                                          By _______________________
                                             Name:
                                             Title:

$19,000,000.00                            THE BANK OF NOVA SCOTIA

                                          By _______________________
                                             Name:
                                             Title:

$19,000,000.00                            BNP PARIBAS

                                          By _______________________
                                             Name:
                                             Title:

                                          By _______________________
                                             Name:
                                             Title:

$19,000,000.00                            DANSKE BANK A/S
                                          CAYMAN ISLANDS BRANCH

                                          By _______________________
                                             Name:
                                             Title:

                                          By _______________________
                                             Name:
                                             Title:

$19,000,000.00                            ING BANK

                                          By _______________________
                                             Name:
                                             Title:
</TABLE>

                                       38
<PAGE>
<TABLE>
<S>                                  <C>
$19,000,000.00                            THE ROYAL BANK OF SCOTLAND PLC

                                          By _______________________
                                             Name:
                                             Title:

                                     Lenders

$9,000,000.00                             ALLFIRST BANK

                                          By _______________________
                                             Name:
                                             Title:

$9,000,000.00                             THE BANK OF NEW YORK

                                          By _______________________
                                             Name:
                                             Title:

$9,000,000.00                             PNC BANK, N.A.

                                          By _______________________
                                             Name:
                                             Title:

$9,000,000.00                             SOCIETE GENERALE

                                          By _______________________
                                             Name:
                                             Title:

$300,000,000      Total of the Revolving Credit Commitments
</TABLE>

                                       39
<PAGE>
                                                                      SCHEDULE I
                                                  YORK INTERNATIONAL CORPORATION
                                                        364-DAY CREDIT AGREEMENT
                                                      APPLICABLE LENDING OFFICES

<TABLE>
<CAPTION>
  Name of Initial Lender     Domestic Lending Office   Eurodollar Lending Office
---------------------------------------------------------------------------------
<S>                         <C>                        <C>
Allfirst Bank               25 South Charles Street    25 South Charles Street
                            Baltimore, MD  21201       Baltimore, MD  21201
                            Attn:  Frank Lago          Attn:  Frank Lago
                            T:  410 244-4289           T:  410 244-4289
                            F:  410 244-4294           F:  410 244-4294
---------------------------------------------------------------------------------
The Bank of New York        1 Wall Street              1 Wall Street
                            New York, NY  10286        New York, NY  10286
                            Attn:  Walter Parelli      Attn:  Walter Parelli
                            T:  212 635-6820           T:  212 635-6820
                            F:  212 635-7978           F:  212 635-7978
---------------------------------------------------------------------------------
The Bank of Nova Scotia     One Liberty Plaza          One Liberty Plaza
                            New York, NY  10006        New York, NY  10006
                            Attn:  Meredith Wedeking   Attn:  Meredith Wedeking
                            T:  212 225-5017           T:  212 225-5017
                            F:  212 225-5090           F:  212 225-5090
---------------------------------------------------------------------------------
Bank of Tokyo-Mitsubishi    BTM Information Services,  BTM Information
Trust Company               Inc.                       Services, Inc.
                            c/o Bank of                c/o Bank of
                            Tokyo-Mitsubishi Trust     Tokyo-Mitsubishi Trust
                            Company                    Company
                            1251 Avenue of the         1251 Avenue of the
                            Americas                   Americas
                            12th Floor                 12th Floor
                            New York, NY  10020        New York, NY  10020
                            Attn:  Rolando Uy          Attn:  Rolando Uy
                            T:  201 413-8570           T:  201 413-8570
                            F:  201 5213-2304          F:  201 5213-2304
---------------------------------------------------------------------------------
BNP Paribas                 787 Seventh Avenue         787 Seventh Avenue
                            New York, NY  10019        New York, NY  10019
                            Attn:  Richard Pace        Attn:  Richard Pace
                            T:  212 841-3266           T:  212 841-3266
                            F:  212 841-2745           F:  212 841-2745
---------------------------------------------------------------------------------
Citibank, N.A.              Two Penns Way, Suite 200   Two Penns Way, Suite 200
                            New Castle, DE  19720      New Castle, DE  19720
                            Attn:  Bilal Aman          Attn:  Bilal Aman
                            T:  302 894-6013           T:  302 894-6013
                            F:  302 894-6120           F:  302 894-6120
---------------------------------------------------------------------------------
Danske Bank A/S             299 Park Avenue,           299 Park Avenue,
Cayman Islands Branch       14th Floor                 14th Floor
                            New York, NY  10171        New York, NY  10171
                            Attn:  Maria Merante       Attn:  Maria Merante
                            T:  212 984-8462           T:  212 984-8462
                            F:  212 984-9570           F:  212 984-9570
---------------------------------------------------------------------------------
Fleet National Bank         100 Federal Street         100 Federal Street
                            Mail Stop:  MA-DE 10010A   Mail Stop:  MA-DE 10010A
                            Boston, MA  02110          Boston, MA  02110
                            Attn:  Deanne Horn         Attn:  Deanne Horn
                            T:  617 434-4028           T:  617 434-4028
                            F:  617 434-0601           F:  617 434-0601
---------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<S>                         <C>                        <C>
ING Bank                    Tournooiveld 6             Tournooiveld 6
                            The Hague, 2501 AT         The Hague, 2501 AT
                            Attn:  H. de Wit           Attn:  H. de Wit
                            T:  31 70 31 89 192        T:  31 70 31 89 192
                            F:  31 70 31 89 411        F:  31 70 31 89 411
---------------------------------------------------------------------------------
JPMorgan Chase Bank         270 Park Avenue,           270 Park Avenue,
                            47th Floor                 47th Floor
                            New York, NY  10017        New York, NY  10017
                            Attn:  Randolph Cates      Attn:  Randolph Cates
                            T:  212 270-8997           T:  212 270-8997
                            F:  212 270-6041           F:  212 270-6041
---------------------------------------------------------------------------------
Nordea Bank Finland plc     437 Madison Avenue         437 Madison Avenue
                            New York, NY  10022        New York, NY  10022
                            Attn:  Thomas Hickey       Attn:  Thomas Hickey
                            T:  212 318-9306           T:  212 318-9306
                            F:  212 318-9318           F:  212 318-9318
---------------------------------------------------------------------------------
PNC Bank, N.A.              500 First Avenue           500 First Avenue
                            Pittsburgh, PA  15219      Pittsburgh, PA  15219
                            Attn:  Marc Accamando      Attn:  Marc Accamando
                            T:  412 768-7647           T:  412 768-7647
                            F:  412 768-4586           F:  412 768-4586
---------------------------------------------------------------------------------
The Royal Bank of Scotland  65 East 55th Street,       65 East 55th Street,
plc                         Floor 21                   Floor 21
                            New York, NY  10022        New York, NY  10022
                            Attn:  Sheila Shaw         Attn:  Sheila Shaw
                            T:  212 401-1406           T:  212 401-1406
                            F:  212 401-1336           F:  212 401-1336
---------------------------------------------------------------------------------
Societe Generale            2001 Ross Avenue           2001 Ross Avenue
                            Suite 4800                 Suite 4800
                            Dallas, TX  75201          Dallas, TX  75201
                            Attn:  Deanna Farhat       Attn:  Deanna Farhat
                            T:  214 979-2736           T:  214 979-2736
                            F:  214 754-0171           F:  214 754-0171
---------------------------------------------------------------------------------
Wachovia Bank, National     201 S. College Street      201 S. College Street
Association                 Charlotte, NC  28288       Charlotte, NC  28288
                            Attn:  Sherry Richards     Attn:  Sherry Richards
                            T:  704 715-1459           T:  704 715-1459
                            F:  704 374-2802           F:  704 374-2802
---------------------------------------------------------------------------------
</TABLE>

                                       2
<PAGE>
                                Schedule 5.02(a)

                                      Liens

      The interest of lessors under various capital leases of computer and other
office equipment and other miscellaneous property and equipment with an
aggregate value of less than $15,000,000.
<PAGE>
                                                           EXHIBIT A-1 - FORM OF
                                                                REVOLVING CREDIT
                                                                 PROMISSORY NOTE

U.S.$__________                                       Dated:  __________, 200_

            FOR VALUE RECEIVED, the undersigned, YORK INTERNATIONAL CORPORATION,
a Delaware corporation (the "Borrower"), HEREBY PROMISES TO PAY to the order of
_______________ (the "Lender") for the account of its Applicable Lending Office
on the later of the Termination Date and the date designated pursuant to Section
2.06 of the Credit Agreement (each as defined in the Credit Agreement referred
to below) the principal sum of U.S.$[amount of the Lender's Commitment in
figures] or, if less, the aggregate principal amount of the Revolving Credit
Advances made by the Lender to the Borrower pursuant to the 364-Day Credit
Agreement dated as of May 29, 2002 among the Borrower, the Lender and certain
other lenders parties thereto, and Citibank, N.A. as Agent for the Lender and
such other lenders (as amended or modified from time to time, the "Credit
Agreement"; the terms defined therein being used herein as therein defined)
outstanding on such date.

            The Borrower promises to pay interest on the unpaid principal amount
of each Revolving Credit Advance from the date of such Revolving Credit Advance
until such principal amount is paid in full, at such interest rates, and payable
at such times, as are specified in the Credit Agreement.

            Both principal and interest are payable in lawful money of the
United States of America to Citibank, as Agent, at 399 Park Avenue, New York,
New York 10043, in same day funds. Each Revolving Credit Advance owing to the
Lender by the Borrower pursuant to the Credit Agreement, and all payments made
on account of principal thereof, shall be recorded by the Lender and, prior to
any transfer hereof, endorsed on the grid attached hereto which is part of this
Promissory Note.

            This Promissory Note is one of the Revolving Credit Notes referred
to in, and is entitled to the benefits of, the Credit Agreement. The Credit
Agreement, among other things, (i) provides for the making of Revolving Credit
Advances by the Lender to the Borrower from time to time in an aggregate amount
not to exceed at any time outstanding the U.S. dollar amount first above
mentioned, the indebtedness of the Borrower resulting from each such Revolving
Credit Advance being evidenced by this Promissory Note and (ii) contains
provisions for acceleration of the maturity hereof upon the happening of certain
stated events and also for prepayments on account of principal hereof prior to
the maturity hereof upon the terms and conditions therein specified.

                                          YORK INTERNATIONAL CORPORATION

                                          By __________________________
                                             Title:
<PAGE>
                       ADVANCES AND PAYMENTS OF PRINCIPAL

<TABLE>
<CAPTION>
                                       AMOUNT OF
       DATE           AMOUNT OF      PRINCIPAL PAID  UNPAID PRINCIPAL      NOTATION
                       ADVANCE         OR PREPAID         BALANCE          MADE BY
<S>                   <C>            <C>             <C>                   <C>
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</TABLE>

                                       2
<PAGE>
                                                           EXHIBIT A-2 - FORM OF
                                                                 COMPETITIVE BID
                                                                 PROMISSORY NOTE

U.S.$_______________                            Dated:  _______________, 200_

            FOR VALUE RECEIVED, the undersigned, YORK INTERNATIONAL CORPORATION,
a Delaware corporation (the "Borrower"), HEREBY PROMISES TO PAY to the order of
_________________________ (the "Lender") for the account of its Applicable
Lending Office (as defined in the 364-Day Credit Agreement dated as of May 29,
2002 among the Borrower, the Lender and certain other lenders parties thereto,
and Citibank, N.A., as Agent for the Lender and such other lenders (as amended
or modified from time to time, the "Credit Agreement"; the terms defined therein
being used herein as therein defined)), on _______________, 200_, the principal
amount of U.S.$_______________].

            The Borrower promises to pay interest on the unpaid principal amount
hereof from the date hereof until such principal amount is paid in full, at the
interest rate and payable on the interest payment date or dates provided below:

      Interest Rate: _____% per annum (calculated on the basis of a year of
_____ days for the actual number of days elapsed).

            Both principal and interest are payable in lawful money of the
United States of America to Citibank, as agent, for the account of the Lender at
the office of Citibank, at _________________________ in same day funds.

            This Promissory Note is one of the Competitive Bid Notes referred to
in, and is entitled to the benefits of, the Credit Agreement. The Credit
Agreement, among other things, contains provisions for acceleration of the
maturity hereof upon the happening of certain stated events.

            The Borrower hereby waives presentment, demand, protest and notice
of any kind. No failure to exercise, and no delay in exercising, any rights
hereunder on the part of the holder hereof shall operate as a waiver of such
rights.

            This Promissory Note shall be governed by, and construed in
accordance with, the laws of the State of New York.

                                          YORK INTERNATIONAL CORPORATION

                                          By __________________________
                                             Title:
<PAGE>
                                                 EXHIBIT B-1 - FORM OF NOTICE OF
                                                      REVOLVING CREDIT BORROWING

  Citibank, N.A., as Agent
  for the Lenders parties
  to the Credit Agreement
  referred to below
  Two Penns Way
  New Castle, Delaware 19720
                                          [Date]

            Attention: Bank Loan Syndications Department

Ladies and Gentlemen:

            The undersigned, York International Corporation, refers to the
364-Day Credit Agreement, dated as of May 29, 2002 (as amended or modified from
time to time, the "Credit Agreement", the terms defined therein being used
herein as therein defined), among the undersigned, certain Lenders parties
thereto and Citibank, N.A., as Agent for said Lenders, and hereby gives you
notice, irrevocably, pursuant to Section 2.02 of the Credit Agreement that the
undersigned hereby requests a Revolving Credit Borrowing under the Credit
Agreement, and in that connection sets forth below the information relating to
such Revolving Credit Borrowing (the "Proposed Revolving Credit Borrowing") as
required by Section 2.02(a) of the Credit Agreement:

            (i) The Business Day of the Proposed Revolving Credit Borrowing is
      _______________, 200_.

            (ii) The Type of Advances comprising the Proposed Revolving Credit
      Borrowing is [Base Rate Advances] [Eurodollar Rate Advances].

            (iii) The aggregate amount of the Proposed Revolving Credit
      Borrowing is $_______________.

            [(iv) The initial Interest Period for each Eurodollar Rate Advance
      made as part of the Proposed Revolving Credit Borrowing is _____
      month[s].]

            The undersigned hereby certifies that the following statements are
true on the date hereof, and will be true on the date of the Proposed Revolving
Credit Borrowing:

            (A) the representations and warranties contained in Section 4.01 of
      the Credit Agreement (except the representations set forth in the last
      sentence of subsection (e) thereof and in subsection (f) thereof (other
      than clause (ii) thereof)) are correct, before and after giving effect to
      the Proposed Revolving Credit Borrowing and to the application of the
      proceeds therefrom, as though made on and as of such date; and

            (B) no event has occurred and is continuing, or would result from
      such Proposed Revolving Credit Borrowing or from the application of the
      proceeds therefrom, that constitutes a Default.

                                          Very truly yours,

                                          YORK INTERNATIONAL CORPORATION

                                          By __________________________
                                             Title:

<PAGE>
                                                 EXHIBIT B-2 - FORM OF NOTICE OF
                                                       COMPETITIVE BID BORROWING

  Citibank, N.A., as Agent
  for the Lenders parties
  to the Credit Agreement
  referred to below
  Two Penns Way
  New Castle, Delaware 19720
                                          [Date]

            Attention: Bank Loan Syndications Department

Ladies and Gentlemen:

                  The undersigned, York International Corporation, refers to the
      364-Day Credit Agreement, dated as of May 29, 2002 (as amended or modified
      from time to time, the "Credit Agreement", the terms defined therein being
      used herein as therein defined), among the undersigned, certain Lenders
      parties thereto and Citibank, N.A., as Agent for said Lenders, and hereby
      gives you notice, irrevocably, pursuant to Section 2.03 of the Credit
      Agreement that the undersigned hereby requests a Competitive Bid Borrowing
      under the Credit Agreement, and in that connection sets forth the terms on
      which such Competitive Bid Borrowing (the "Proposed Competitive Bid
      Borrowing") is requested to be made:

      (A)   Date of Competitive Bid Borrowing   ________________________

      (B)   Amount of Competitive Bid Borrowing ________________________

      (C)   [Maturity Date] [Interest Period]   ________________________

      (D)   Interest Rate Basis                 ________________________

      (E)   Interest Payment Date(s)            ________________________

      (F)   ___________________                 ________________________

            The undersigned hereby certifies that the following statements are
true on the date hereof, and will be true on the date of the Proposed
Competitive Bid Borrowing:

            (a) the representations and warranties contained in Section 4.01 of
      the Credit Agreement (except the representations set forth in the last
      sentence of subsection (e) thereof and in subsection (f) thereof (other
      than clause (ii) thereof)) are correct, before and after giving effect to
      the Proposed Competitive Bid Borrowing and to the application of the
      proceeds therefrom, as though made on and as of such date;

            (b) no event has occurred and is continuing, or would result from
      the Proposed Competitive Bid Borrowing or from the application of the
      proceeds therefrom, that constitutes a Default;

            (c) no event has occurred and no circumstance exists as a result of
      which the information concerning the undersigned that has been provided to
      the Agent and each Lender by the undersigned in connection with the Credit
      Agreement would include an untrue statement of a material fact or omit to
      state any material fact or any fact necessary to make the statements
      contained therein, in the light of the circumstances under which they were
      made, not misleading; and

            (d) the aggregate amount of the Proposed Competitive Bid Borrowing
      and all other Borrowings to be made on the same day under the Credit
      Agreement is within the aggregate amount of the unused Revolving Credit
      Commitments of the Lenders.

                                       6
<PAGE>
            The undersigned hereby confirms that the Proposed Competitive Bid
Borrowing is to be made available to it in accordance with Section 2.03(a)(v) of
the Credit Agreement.

                                          Very truly yours,

                                          YORK INTERNATIONAL CORPORATION

                                          By __________________________
                                             Title:

                                       2
<PAGE>
                                                             EXHIBIT C - FORM OF
                                                       ASSIGNMENT AND ACCEPTANCE

            Reference is made to the 364-Day Credit Agreement dated as of May
29, 2002 (as amended or modified from time to time, the "Credit Agreement")
among York International Corporation, a Delaware corporation (the "Borrower"),
the Lenders (as defined in the Credit Agreement) and Citibank, N.A., as agent
for the Lenders (the "Agent"). Terms defined in the Credit Agreement are used
herein with the same meaning.

            The "Assignor" and the "Assignee" referred to on Schedule I hereto
agree as follows:

            1. The Assignor hereby sells and assigns to the Assignee, and the
Assignee hereby purchases and assumes from the Assignor, an interest in and to
the Assignor's rights and obligations under the Credit Agreement as of the date
hereof (other than in respect of Competitive Bid Advances and Competitive Bid
Notes) equal to the percentage interest specified on Schedule 1 hereto of all
outstanding rights and obligations under the Credit Agreement (other than in
respect of Competitive Bid Advances and Competitive Bid Notes). After giving
effect to such sale and assignment, the Assignee's Revolving Credit Commitment
and the amount of the Revolving Credit Advances owing to the Assignee will be as
set forth on Schedule 1 hereto.

            2. The Assignor (i) represents and warrants that it is the legal and
beneficial owner of the interest being assigned by it hereunder and that such
interest is free and clear of any adverse claim; (ii) makes no representation or
warranty and assumes no responsibility with respect to any statements,
warranties or representations made in or in connection with the Credit Agreement
or the execution, legality, validity, enforceability, genuineness, sufficiency
or value of the Credit Agreement or any other instrument or document furnished
pursuant thereto; (iii) makes no representation or warranty and assumes no
responsibility with respect to the financial condition of the Borrower or the
performance or observance by the Borrower of any of its obligations under the
Credit Agreement or any other instrument or document furnished pursuant thereto;
and (iv) attaches the Revolving Credit Note, if any, held by the Assignor [and
requests that the Agent exchange such Revolving Credit Note for a new Revolving
Credit Note payable to the order of [the Assignee in an amount equal to the
Revolving Credit Commitment assumed by the Assignee pursuant hereto or new
Revolving Credit Notes payable to the order of the Assignee in an amount equal
to the Revolving Credit Commitment assumed by the Assignee pursuant hereto and]
the Assignor in an amount equal to the Revolving Credit Commitment retained by
the Assignor under the Credit Agreement, [respectively,] as specified on
Schedule 1 hereto.

            3. The Assignee (i) confirms that it has received a copy of the
Credit Agreement, together with copies of the financial statements referred to
in Section 4.01 thereof 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 Acceptance; (ii) agrees that it will, independently and
without reliance upon the 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 Credit Agreement; (iii) confirms that it is an Eligible Assignee; (iv)
appoints and authorizes the Agent to take such action as agent on its behalf and
to exercise such powers and discretion under the Credit Agreement as are
delegated to the Agent by the terms thereof, together with such powers and
discretion as are reasonably incidental thereto; (v) agrees that it will perform
in accordance with their terms all of the obligations that by the terms of the
Credit Agreement are required to be performed by it as a Lender; and (vi)
attaches any U.S. Internal Revenue Service forms required under Section 2.14 of
the Credit Agreement.

            4. Following the execution of this Assignment and Acceptance, it
will be delivered to the Agent for acceptance and recording by the Agent. The
effective date for this Assignment and Acceptance (the "Effective Date") shall
be the date of acceptance hereof by the Agent, unless otherwise specified on
Schedule 1 hereto.

            5. Upon such acceptance and recording by the Agent, as of the
Effective Date, (i) the Assignee shall be a party to the Credit Agreement and,
to the extent provided in this Assignment and Acceptance,
<PAGE>
have the rights and obligations of a Lender thereunder and (ii) the Assignor
shall, to the extent provided in this Assignment and Acceptance, relinquish its
rights and be released from its obligations under the Credit Agreement.

            6. Upon such acceptance and recording by the Agent, from and after
the Effective Date, the Agent shall make all payments under the Credit Agreement
and the Revolving Credit Notes in respect of the interest assigned hereby
(including, without limitation, all payments of principal, interest and facility
fees with respect thereto) to the Assignee. The Assignor and Assignee shall make
all appropriate adjustments in payments under the Credit Agreement and the
Revolving Credit Notes for periods prior to the Effective Date directly between
themselves.

            7. This Assignment and Acceptance shall be governed by, and
construed in accordance with, the laws of the State of New York.

            8. This Assignment and Acceptance may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement. Delivery of an executed
counterpart of Schedule 1 to this Assignment and Acceptance by telecopier shall
be effective as delivery of a manually executed counterpart of this Assignment
and Acceptance.

            IN WITNESS WHEREOF, the Assignor and the Assignee have caused
Schedule 1 to this Assignment and Acceptance to be executed by their officers
thereunto duly authorized as of the date specified thereon.

                                       2
<PAGE>
                                   Schedule 1

                                       to

                            Assignment and Acceptance

<TABLE>
<S>                                                                                   <C>
      Percentage interest assigned:                                                   ______%

      Assignee's Revolving Credit Commitment:                                        $______

      Aggregate outstanding principal amount of Revolving Credit Advances
assigned:                                                                            $______

      Principal amount of Revolving Credit Note payable to Assignee:                 $______

      Principal amount of Revolving Credit Note payable to Assignor:                 $______

      Effective Date*:  _______________, 200_
</TABLE>

                                          [NAME OF ASSIGNOR], as Assignor

                                          By __________________________
                                          Title:

                                          Dated:  _______________, 200_

                                          [NAME OF ASSIGNEE], as Assignee

                                          By __________________________
                                          Title:

                                          Dated:  _______________, 200_

                                          Domestic Lending Office:
                                                [Address]

                                          Eurodollar Lending Office:
                                                [Address]

*     This date should be no earlier than five Business Days after the delivery
      of this Assignment and Acceptance to the Agent.

                                       3
<PAGE>
Accepted [and Approved]** this
__________ day of _______________, 200_

CITIBANK, N.A., as Agent

By
   Title:

[Approved this __________ day
of _______________, 200_

YORK INTERNATIONAL CORPORATION

By                            ]*
   Title:

**    Required if the Assignee is an Eligible Assignee solely by reason of
      clause(iii) of the definition of "Eligible Assignee".

*     Required if the Assignee is an Eligible Assignee solely by reason of
      clause(iii) of the definition of "Eligible Assignee".

                                       4
<PAGE>
                                                             EXHIBIT D - FORM OF
                                                              OPINION OF COUNSEL
                                                                FOR THE BORROWER
<PAGE>
                                                                  EXECUTION COPY

                                U.S. $300,000,000

                            364-DAY CREDIT AGREEMENT

                            Dated as of May 29, 2002

                                      Among

                         YORK INTERNATIONAL CORPORATION

                                   as Borrower

                                       and

                        THE INITIAL LENDERS NAMED HEREIN

                               as Initial Lenders

                                       and

                                 CITIBANK, N.A.

                             as Administrative Agent

                                       and

                               JPMORGAN CHASE BANK

                              as Syndication Agent

                                       and

                     BANK OF TOKYO-MITSUBISHI TRUST COMPANY

                               FLEET NATIONAL BANK

                                       and

                             NORDEA BANK FINLAND PLC

                             as Documentation Agents

                                       and

                          J.P. MORGAN SECURITIES, INC.

                                       and

                            SALOMON SMITH BARNEY INC.

                  as Joint Lead Arrangers and Joint Bookrunners
<PAGE>
                                TABLE OF CONTENTS

<TABLE>
<S>                                                                                                <C>
ARTICLE I

      SECTION 1.01.  Certain Defined Terms                                                          1

      SECTION 1.02.  Computation of Time Periods                                                   11

      SECTION 1.03.  Accounting Terms                                                              11

ARTICLE II

      SECTION 2.01.  (a)  The Revolving Credit Advances.  The Revolving Credit Advances            11

      SECTION 2.02.  Making the Revolving Credit Advances                                          11

      SECTION 2.03.  The Competitive Bid Advances                                                  12

      SECTION 2.04.  Fees                                                                          15

      SECTION 2.05.  Termination or Reduction of the Revolving Credit Commitments                  15

      SECTION 2.06.  Repayment of Advances                                                         15

      SECTION 2.07.  Interest on Revolving Credit Advances                                         16

      SECTION 2.08.  Interest Rate Determination                                                   16

      SECTION 2.09.  Optional Conversion of Revolving Credit Advances                              17

      SECTION 2.10.  Prepayments of Revolving Credit Advances                                      17

      SECTION 2.11.  Increased Costs                                                               18

      SECTION 2.12.  Illegality                                                                    18

      SECTION 2.13.  Payments and Computations                                                     18

      SECTION 2.14.  Taxes                                                                         19

      SECTION 2.15.  Sharing of Payments, Etc                                                      21

      SECTION 2.16.  Evidence of Debt                                                              21

      SECTION 2.17.  Use of Proceeds                                                               21

ARTICLE III

      SECTION 3.01.  Conditions Precedent to Effectiveness of Sections 2.01 and 2.03               21
</TABLE>

                                       i
<PAGE>
<TABLE>
<S>                                                                                                <C>
      SECTION 3.02.  Conditions Precedent to Each Revolving Credit Borrowing.                      23

      SECTION 3.03.  Conditions Precedent to Each Competitive Bid Borrowing                        23

      SECTION 3.04.  Determinations Under Section 3.01                                             24

ARTICLE IV

      SECTION 4.01.  Representations and Warranties of the Borrower                                24

ARTICLE V

      SECTION 5.01.  Affirmative Covenants                                                         25

      SECTION 5.02.  Negative Covenants                                                            27

      SECTION 5.03.  Financial Covenants                                                           28

ARTICLE VI

      SECTION 6.01.  Events of Default                                                             28

ARTICLE VII

      SECTION 7.01.  Authorization and Action                                                      30

      SECTION 7.02.  Agent's Reliance, Etc                                                         30

      SECTION 7.03.  Citibank and Affiliates                                                       31

      SECTION 7.04.  Lender Credit Decision                                                        31

      SECTION 7.05.  Indemnification                                                               31

      SECTION 7.06.  Successor Agent                                                               31

      SECTION 7.07.  Other Agents                                                                  31

ARTICLE VIII

      SECTION 8.01.  Amendments, Etc                                                               32

      SECTION 8.02.  Notices, Etc                                                                  32

      SECTION 8.03.  No Waiver; Remedies                                                           32

      SECTION 8.04.  Costs and Expenses                                                            32

      SECTION 8.05.  Right of Set-off                                                              33
</TABLE>

                                       ii
<PAGE>
<TABLE>
<S>                                                                                                <C>
      SECTION 8.06.  Binding Effect                                                                33

      SECTION 8.07.  Assignments and Participations                                                33

      SECTION 8.08.  Confidentiality                                                               35

      SECTION 8.09.  Governing Law                                                                 35

      SECTION 8.10.  Execution in Counterparts                                                     35

      SECTION 8.12.  Jurisdiction, Etc                                                             36

      SECTION 8.13.  Waiver of Jury Trial                                                          37
</TABLE>

                                       iii
<PAGE>
Schedules

Schedule I - List of Applicable Lending Offices

Schedule 5.02(a) - Existing Liens

Exhibits

Exhibit A-1 -  Form of Revolving Credit Note

Exhibit A-2 -  Form of Competitive Bid Note

Exhibit B-1 -  Form of Notice of Revolving Credit Borrowing

Exhibit B-2 -  Form of Notice of Competitive Bid Borrowing

Exhibit C   -  Form of Assignment and Acceptance

Exhibit D   -  Form of Opinion of Counsel for the Borrower

                                       iv

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