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                                                              EXECUTION COPY                            FIVE YEAR CREDIT AGREEMENT                                Dated as of May 23, 2019                                       Among                                GATX CORPORATION                                     as Borrower                                        and                        THE INITIAL LENDERS NAMED HEREIN                                   as Initial Lenders                                        and                                   CITIBANK, N.A.                                 as Administrative Agent                                                                                         and                                                                           CITIBANK, N.A.                                       and                              BOFA SECURITIES, INC.                       as Joint Lead Arrangers and Joint Book Managers                                         and                              BANK OF AMERICA, N.A.                                  as Syndication Agent                                                                                         and                         PNC BANK, NATIONAL ASSOCIATION                        U.S. BANK NATIONAL ASSOCIATION                  MORGAN STANLEY MUFG LOAN PARTNERS, LLC                                       and                        KEYBANK NATIONAL ASSOCIATION                               as Co-Documentation Agents                                                      NYDOCS02/1188161  

 

                               TABLE OF CONTENTS  ARTICLE I                                                                   1         SECTION 1.01.  Certain Defined Terms                                  1         SECTION 1.02.  Computation of Time Periods                           16         SECTION 1.03.  Accounting Terms                                      16         SECTION 1.04.  Divisions                                             16   ARTICLE II                                                                 17         SECTION 2.01.  The Advances and Letters of Credit                    17         SECTION 2.02.  Making the Advances                                   18         SECTION 2.03.  Issuance of and Drawings and Reimbursement Under Letters of              Credit                                                         20         SECTION 2.04.  Fees                                                  22         SECTION 2.05.  Optional Termination or Reduction of the Commitments  22         SECTION 2.06.  Repayment                                             22         SECTION 2.07.  Interest on Advances                                  23         SECTION 2.08.  Interest Rate Determination                           24         SECTION 2.09.  Optional Conversion of Advances                       26         SECTION 2.10.  Prepayments of Advances                               27         SECTION 2.11.  Increased Costs                                       27         SECTION 2.12.  Illegality                                            28         SECTION 2.13.  Payments and Computations                             28         SECTION 2.14.  Taxes                                                 29         SECTION 2.15.  Sharing of Payments, Etc.                             30         SECTION 2.16.  Evidence of Debt                                      31         SECTION 2.17.  Use of Proceeds                                       31         SECTION 2.18.  Increase in the Aggregate Commitments                 31    NYDOCS02/1188161  

 

      SECTION 2.19.  Extension of Termination Date                         33         SECTION 2.20.  Defaulting Lender                                     34         SECTION 2.21.  Replacement of Lenders                                36   ARTICLE III                                                                37         SECTION 3.01.  Conditions Precedent to Effectiveness of Section 2.01 37         SECTION 3.03.  Conditions Precedent to Each Borrowing, Commitment Increase,              Extension Date and Issuance.                                   38         SECTION 3.03.  Determinations Under Section 3.01                     38   ARTICLE IV                                                                 39         SECTION 4.01.  Representations and Warranties                        39   ARTICLE V                                                                  41         SECTION 5.01.  Affirmative Covenants                                 41         SECTION 5.02.  Negative Covenants                                    44         SECTION 5.03.  Financial Covenant                                    46   ARTICLE VI                                                                 47         SECTION 6.01.  Events of Default                                     47         SECTION 6.02.  Actions in Respect of the Letters of Credit upon Default 48   ARTICLE VII                                                                49         SECTION 7.01.  Appointment and Authority                             49         SECTION 7.02.  Rights as a Lender                                    49         SECTION 7.03.  Exculpatory Provisions                                49         SECTION 7.04.  Reliance by Agent                                     50         SECTION 7.05.  Indemnification                                       50         SECTION 7.06.  Delegation of Duties                                  51         SECTION 7.07.  Resignation of Agent                                  51         SECTION 7.08.  Non-Reliance on Agent and Other Lenders               52                                         ii  NYDOCS02/1188161  

 

      SECTION 7.09.  No Other Duties, etc                                  52         SECTION 7.09.  Lender ERISA Matters                                  53   ARTICLE VIII                                                               54         SECTION 8.01.  Amendments, Etc.                                      54         SECTION 8.02.  Notices, Etc.                                         54         SECTION 8.03.  No Waiver; Remedies                                   56         SECTION 8.04.  Costs and Expenses                                    56         SECTION 8.05.  Right of Set-off                                      57         SECTION 8.06.  Binding Effect                                        58         SECTION 8.07.  Assignments and Participations                        58         SECTION 8.08.  Confidentiality                                       61         SECTION 8.09.  Governing Law                                         61         SECTION 8.10.  Execution in Counterparts                             62         SECTION 8.11.  Jurisdiction, Etc.                                    62         SECTION 8.12.  No Liability of the Issuing Banks                     62         SECTION 8.13.  Patriot Act                                           63         SECTION 8.14.  Acknowledgement and Consent to Bail-In of EEA Financial              Institutions                                                   63         SECTION 8.15.  Waiver of Jury Trial                                  65                                          iii  NYDOCS02/1188161  

 

  Schedules   Schedule I - Commitments   Schedule 2.01(b) – Existing Letters of Credit   Exhibits   Exhibit A  -  Form of Note   Exhibit B  -  Form of Notice of Borrowing   Exhibit C  -  Form of Assignment and Assumption   Exhibit D  -  Form of Opinion of Counsel for the Borrower                                          iv  NYDOCS02/1188161  

 

                        FIVE YEAR CREDIT AGREEMENT                                Dated as of May 23, 2019               GATX CORPORATION, a New York corporation (the “Borrower”), the banks, financial  institutions  and  other  institutional  lenders  (the  “Initial  Lenders”)  and  initial  issuing  banks  (the  “Initial  Issuing  Banks”)  listed  on  the  signature  pages  hereof, CITIBANK,  N.A.  (“Citibank”) and BOFA  SECURITIES, INC., as joint lead arrangers and joint book managers, BANK OF AMERICA, N.A., as  syndication agent,  PNC  BANK,  NATIONAL  ASSOCIATION,  U.S.  BANK  NATIONAL  ASSOCIATION,  MORGAN  STANLEY     MUFG  LOAN  PARTNERS,  LLC    and  KEYBANK  NATIONAL  ASSOCIATION,  as  co-documentation  agents,  and Citibank,  as  administrative  agent  (the  “Agent”) for the Lenders (as hereinafter defined), 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):               “Administrative  Questionnaire”  means  an Administrative Questionnaire  in  a  form        supplied by the Agent.               “Advance” means a Revolving Credit Advance or a Swing Line Advance.               “Affiliate”  means,  with  respect  to  a specified  Person,  another  Person  that  directly,  or        indirectly through one or more intermediaries, Controls or is Controlled by or is under common        Control with the Person specified.               “Agent’s Account” means the account of the Agent maintained by the Agent at Citibank        at  its  office  at  388  Greenwich  Street,  New  York,  New  York  10013,  Account  No. 36852248,        Attention:  Bank Loan Syndications.               “Anti-Corruption  Laws” means  all  laws,  rules,  and  regulations  of  any  jurisdiction        applicable to the Borrower or its Subsidiaries from time to time concerning or relating to bribery        or corruption.                “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.               “Applicable  Margin”  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:             Public Debt Rating Applicable Margin for  Applicable Margin for             S&P/Moody’s     Eurodollar Rate Advances Base Rate Advances          Level 1                                            A-/ A3 or above          0.910%                 0.000%    NYDOCS02/1188161  

 

        Level 2                                            BBB+ / Baa1              1.025%                 0.025%          Level 3                                            BBB / Baa2               1.125%                 0.125%          Level 4                                            BBB- / Baa3              1.300%                 0.300%          Level 5                                            Lower than Level 4       1.500%                 0.500%                “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:                         Public Debt Rating      Applicable                         S&P/Moody’s           Percentage                     Level 1                                   A-/ A3 or above            0.090%                     Level 2                                   BBB+ / Baa1                0.100%                     Level 3                                   BBB / Baa2                 0.125%                     Level 4                                   BBB- / Baa3                0.200%                     Level 5                                   Lower than Level 4         0.250%                “Assignment and Assumption” means an assignment and assumption entered into by a        Lender  and  an  Eligible  Assignee,  and  accepted  by  the Agent,  in  substantially  the  form  of        Exhibit C hereto.               “Assuming Lender” has the meaning specified in Section 2.18(b).               “Assumption Agreement” has the meaning specified in Section 2.18(c)(ii).               “Available Amount” of any Letter of Credit means, at any time, the maximum amount        available to be drawn under such Letter of Credit at such time (assuming compliance at such time        with all conditions to drawing).               “Bail-In Action” has the meaning specified in Section 8.14.               “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; and                     (b)   1⁄2 of one percent per annum above the Federal Funds Rate; and                      (c)   the London interbank offered rate for deposits in U.S. dollars for a period              of one month (“One Month LIBOR”), provided that, if One Month LIBOR shall be less              than zero, such rate shall be deemed zero for purposes of this Agreement); plus 1.00%                                          2  NYDOCS02/1188161  

 

            (for the avoidance of doubt, the One Month LIBOR for any day shall be based on the rate              appearing  on  Reuters  Screen  LIBOR01  Page  (or  other  commercially  available  source              providing  such  quotations  as  designated  by  the  Agent from  time  to  time)  at              approximately 11:00 a.m. London time on such day).               “Base  Rate  Advance”  means  an  Advance  that  bears  interest  as  provided  in        Section 2.07(a)(i).               “Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230.                “Borrower Information” has the meaning specified in Section 8.08.               “Borrowing” means a Revolving Credit Borrowing or a Swing Line Borrowing.               “Business Day” means a day of the year other than Saturday or Sunday or a day on which        banks are not required or authorized by law to close in New York City, Chicago, Illinois and, if        the  applicable  Business  Day  relates  to  any  Eurodollar  Rate  Advances,  on  which  dealings  are        carried on in the London interbank market.               “Capital Lease Obligations” of any Person means the obligations of such Person to pay        rent or other amounts under any lease of (or other arrangement conveying the right to use) real or        personal property, or a combination thereof, which obligations are required to be classified and        accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of        such obligations shall be the capitalized amount thereof determined in accordance with GAAP.               “Cash  Collateralize”  means,  in  respect  of  an  obligation,  provide  and  pledge  (as  a  first        priority perfected security interest) cash collateral in U.S. dollars, at a location and pursuant to        documentation  in  form  and  substance  satisfactory  to  the  Agent,  each  Issuing  Bank  and  each        Swing Line Bank (and “Cash Collateralization” has a corresponding meaning).               “Change  in  Control”  means  (a) the  acquisition  of  ownership,  directly  or  indirectly,        beneficially or of record, by any Person or group (within the meaning of the Securities Exchange        Act of 1934 and the rules of the Securities and Exchange Commission thereunder as in effect on        the date hereof), of shares representing more than 50% of the aggregate ordinary voting power        represented by the issued and outstanding capital stock of the Borrower; or (b) for the period of        12 consecutive months, a majority of the Board of Directors of the Borrower shall no longer be        composed of individuals  (i) who were  members  of said Board on the  first day of such period,        (ii) whose  election  or  nomination  to  said  Board  was  approved  by  individuals  referred  to  in        clause (i) above constituting at the time of such election or nomination at least a majority of said        Board or (iii) whose election or nomination to said Board was approved by individuals referred to        in  clauses (i)  and  (ii)  above  constituting  at  the  time  of  such  election  or  nomination  at  least  a        majority of said Board.               “Code” means the Internal Revenue Code of 1986, as amended from time to time.               “Control” means the possession, directly or indirectly, of the power to direct or cause the        direction  of  the  management  or  policies  of  a  Person,  whether  through the  ability  to  exercise        voting  power,  by  contract  or  otherwise.   “Controlling”  and  “Controlled”  have  meanings        correlative thereto.                                          3  NYDOCS02/1188161  

 

            “Commitment” means a Revolving Credit Commitment, a Letter of Credit Commitment        or a Swing Line Commitment.               “Commitment Date” has the meaning specified in Section 2.18(b).               “Commitment Increase” has the meaning specified in Section 2.18(a).               “Consenting Lender” has the meaning specified in Section 2.19(b).               “Consolidated” refers to the consolidation of accounts in accordance with GAAP.               “Convert”,  “Conversion”  and  “Converted”  each refers  to  a  conversion  of  Advances  of        one Type into Advances of the other Type pursuant to Section 2.08 or 2.09.               “Default” means any event or condition which constitutes an Event of Default or which        upon notice, lapse of time or both would, unless cured or waived, become an Event of Default.               “Defaulting Lender” means, at any time, subject to Section 2.20(c), (i) any Lender that        has failed for three or more Business Days to comply with its obligations under this Agreement to        make an Advance, make a payment to an Issuing Bank in respect of drawing under a Letter of        Credit, make a payment to a Swing Line Bank in respect of a Swing Line Advance or make any        other payment due hereunder (each, a “funding obligation”), unless such Lender has notified the        Agent and the Borrower in writing that such failure is the result of such Lender’s determination        that  one  or  more  conditions  precedent  to  funding  has  not  been  satisfied  (which  conditions        precedent,  together  with  the applicable  default,  if  any,  will  be  specifically  identified  in  such        writing), (ii) any Lender that has notified the Agent, the Borrower, an Issuing Bank or a Swing        Line Bank in writing, or has stated publicly, that it does not intend to comply with its funding        obligations hereunder, unless such writing or statement states that such position is based on such        Lender’s  determination  that  one  or  more  conditions  precedent  to  funding  cannot  be  satisfied        (which  conditions  precedent,  together  with  the  applicable  default,  if  any,  will  be  specifically        identified in such writing or public statement), (iii) any Lender that has defaulted on its funding        obligations  under  other  loan  agreements  or  credit  agreements  generally  under  which  it  has        commitments  to extend credit or that has  notified, or whose Parent Company has notified,  the        Agent or the Borrower in writing, or has stated publicly, that it does not intend to comply with its        funding obligations under loan agreements or credit agreements generally, (iv) any Lender that        has, for three or more Business Days after written request of the Agent or the Borrower, failed to        confirm in writing to the Agent and the Borrower that it will comply with its prospective funding        obligations hereunder (provided that such Lender will cease to be a Defaulting Lender pursuant to        this clause (iv) upon the Agent’s and the Borrower’s receipt of such written confirmation), or (v)        any  Lender  with  respect  to  which,  or  with respect  to  the  Parent  Company  of which,  a  Lender        Insolvency Event has occurred and is continuing; provided that a Lender Insolvency Event shall        not be deemed to occur with respect to a Lender or its Parent Company solely as a result of the        acquisition  or maintenance  of  an  ownership  interest  in  such  Lender  or  Parent  Company  by  a        Governmental  Authority  or  instrumentality  thereof where  such  action  does  not  result  in  or        provide such Lender with immunity from the jurisdiction of courts within the United States or        from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or        such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any        contracts or agreements made with such Lender.  Any determination by the Agent that a Lender is        a Defaulting Lender under any of clauses (i) through (v) above will be conclusive and binding        absent  manifest  error,  and  such  Lender  will  be  deemed  to  be  a  Defaulting  Lender  (subject  to                                          4  NYDOCS02/1188161  

 

      Section  2.20(c))  upon  notification  of  such  determination  by  the  Agent  to  the  Borrower,  the        Issuing Banks, the Swing Line Banks and the Lenders.                “Disclosed Litigation” means litigation disclosed in any filing made by the Borrower or        any of its Subsidiaries prior to the date hereof pursuant to the Securities and Exchange Act of        1934, as amended.               “Domestic Lending Office” means, with respect to any Lender, the office of such Lender        specified as its “Domestic Lending Office” in its Administrative Questionnaire delivered to the        Agent, or such other office of such Lender as such Lender may from time to time specify to the        Borrower and the Agent.               “Effective Date” has the meaning specified in Section 3.01, which is May 23, 2019.               “Eligible Assignee” means (i) a Lender; (ii) an Affiliate of a Lender that is in the business        of making and/or buying loans of the type described herein; and (iii) any other Person approved        by  the  Agent,  each  Issuing  Bank,  each  Swing  Line Bank  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  approvals  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  Laws”  means  all  laws,  rules,  regulations,  codes,  ordinances,  orders,        decrees,  judgments,  injunctions,  notices  or  binding  agreements  issued,  promulgated  or  entered        into  by  any  Governmental  Authority,  relating  in  any  way  to  the  environment,  preservation  or        reclamation of natural resources, the management, release or threatened release of any Hazardous        Material or to health and safety matters.               “Environmental  Liability”  means  any  liability,  contingent  or  otherwise  (including  any        liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the        Borrower  or  any  of  its  Subsidiaries  directly  or  indirectly  resulting  from  or  based  upon        (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage,        treatment  or  disposal  of  any  Hazardous  Materials,  (c) exposure  to  any  Hazardous  Materials,        (d) the release or threatened release of any Hazardous Materials into the environment or (e) any        contract, agreement  or  other consensual  arrangement  pursuant to  which liability  is  assumed  or        imposed with respect to any of the foregoing.               “ERISA”  means  the  Employee  Retirement  Income  Security  Act  of  1974,  as  amended        from time to time.               “ERISA  Affiliate”  means  any  trade  or  business  (whether  or  not  incorporated)  that,        together  with  the  Borrower,  is  treated  as  a  single  employer  under  Section 414(b)  or  (c)  of  the        Code or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a        single employer under Section 414 of the Code.               “ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA        or the regulations issued thereunder with respect to a Plan (other than an event for which the 30        day  notice  period  is  waived);  (b) with  respect  to  any  Plan,  the  failure  to  satisfy  the  minimum        funding standard described in Section 412 of the Code or Section 302 of ERISA, whether or not        waived; (c) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an        application  for  a  waiver  of  the  minimum  funding  standard  with  respect  to  any  Plan;  (d) the        incurrence  by  the  Borrower  or  any  of  its  ERISA  Affiliates  of  any  liability  under  Title IV  of                                         5  NYDOCS02/1188161  

 

      ERISA with respect to the termination of any Plan; (e) the receipt by the Borrower or any ERISA        Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate        any  Plan  or  Plans  or  to  appoint  a  trustee  to  administer  any  Plan;  (f) the  incurrence  by  the        Borrower or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial        withdrawal  from  any  Plan  or  Multiemployer  Plan;  or  (g) the  receipt  by  the  Borrower  or  any        ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from the Borrower or        any  ERISA  Affiliate  of  any  notice,  concerning  the  imposition  of  Withdrawal  Liability  or  a        determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization,        within  the  meaning  of  Title IV  of  ERISA  or  is  in  “endangered”  or  “critical”  status  within  the        meaning of Section 432 of the Code or Section 305 of ERISA.               “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.               “Eurodollar  Lending  Office”  means,  with  respect  to  any  Lender,  the  office  of  such        Lender specified as its “Eurodollar Lending Office” in its Administrative Questionnaire delivered        to the Agent, 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 Borrowing, an interest rate per annum equal to the rate per annum        obtained  by  dividing  (a)  the  London  interbank  offered  rate  as  administered  by  the  ICE        Benchmark Administration (or any other Person that takes over the administration of such rate)        (the  “ICE  LIBOR”)  for  U.S.  dollars  for  a  period  equal  in  length  to  such  Interest  Period  as        displayed on page LIBOR01 of the Reuters Screen that displays such rate (or, in the event such        rate does not appear on a Reuters page or screen, on any successor or substitute page on such        screen that displays such rate, or on the appropriate page of such other information service that        publishes such rate from time to time as selected by the Agent in its reasonable discretion; in each        case, the “Screen Rate”) 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 for the applicable Interest Period but is available for periods that        are  shorter  than  and  longer  than  such  Interest  Period,  the  rate  per  annum  that  results  from        interpolating on a linear basis between the rate for the longest available period that is shorter than        such Interest Period and the shortest available period that is longer than such Interest Period with        respect  to  such  Eurodollar  Rate  Advance,  then  the  Eurodollar  Rate  shall  be  such  interpolated        screen  rate (the  “Interpolated  Rate”), by  (b) a  percentage  equal  to  100%  minus  the  Eurodollar        Rate Reserve Percentage for such Interest Period; provided, further, that if any of the Screen Rate        or the Interpolated Rate shall be less than zero, such rate shall be deemed to be zero for purposes        of this Agreement.               “Eurodollar  Rate  Advance”  means  an  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 comprising part of the same Borrowing means the reserve percentage 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                                         6  NYDOCS02/1188161  

 

      to which the interest rate on Eurodollar Rate Advances is determined) having a term equal to such        Interest Period.               “Events of Default” has the meaning specified in Section 6.01.               “Excluded Taxes” means, with respect to the Agent, any Lender or any other recipient of        any  payment  to  be  made  by  or  on  account  of  any  obligation  of  the  Borrower  hereunder,        (a) income or franchise taxes imposed on (or measured by) its net income by the United States of        America, or by the jurisdiction under the laws of which such recipient is organized or in which its        principal office is located or, in the case of any Lender, in which its applicable lending office is        located, (b) any branch profits taxes imposed by the United States of America or any similar tax        imposed by any other jurisdiction in which the Lender or such other recipient is located, (c) in the        case of a Foreign Lender (other than an assignee pursuant to a request by the Borrower under        Section  2.21),  any  United  States  withholding  tax  that  is  imposed  on  amounts  payable  to  such        Foreign  Lender  at  the  time  such  Foreign  Lender  becomes  a  party  to  this  Agreement  or  is        attributable to such Foreign Lender’s failure or inability to comply with Section 2.14(e), except to        the extent that such Foreign Lender’s assignor (if any) was entitled, at the time of assignment, to        receive additional amounts from the Borrower with respect to such withholding tax pursuant to        Section 2.14(a), (d) any taxes imposed pursuant to FATCA, and (e) all liabilities, penalties, and        interest incurred with respect to any of the foregoing.               “Existing Letter of Credit” has the meaning specified in Section 2.01(b).               “Extension Date” has the meaning specified in Section 2.19(b).               “Facility” means the Revolving Credit Facility, the Letter of Credit Facility or the Swing        Line Facility.               “FATCA” means  Sections  1471  through  1474  of  the  Code,  as  of  the  date  of  this        Agreement (or any amended or successor version), any current or future regulations or official        interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code,        any published intergovernmental agreement entered into in connection with the implementation        of such Sections of the Code and any fiscal or regulatory legislation, rules or practices adopted        pursuant to such published intergovernmental agreements.               “Federal Funds Rate” means, for any period, a fluctuating interest rate per annum equal        to the rates on overnight Federal funds transactions with members of the Federal Reserve System,        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; provided,        further, that if the Federal Funds Rate shall be less than zero, such rate shall be deemed to be zero        for purposes of this Agreement.               “Fed Funds Swing Line  Advance”  means a  Swing Line Advance that bears interest as        provided in Section 2.07(a)(iii)(A).               “Financial  Officer”  means  the  chief  financial  officer,  principal  accounting  officer,        treasurer or controller of the Borrower.                                          7  NYDOCS02/1188161  

 

            “Foreign  Lender”  means  any  Lender that is  organized  under  the  laws of a  jurisdiction        other than the United States of America, any State thereof or the District of Columbia.               “Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect to        any Issuing Bank, such Defaulting Lender’s Ratable Share of the aggregate Available Amount of        outstanding  Letters  of  Credit  and  Revolving  Credit  Advances  made  by  an  Issuing  Bank  in        accordance with Section 2.03 with respect to Letters of Credit issued by such Issuing Bank that        have not been funded by the Lenders (collectively, the “L/C Exposure”) other than L/C Exposure        as  to  which  such  Defaulting  Lender’s  participation  obligation  has  been  reallocated  to  other        Lenders or Cash Collateralized in accordance with the terms hereof, and (b) with respect to any        Swing Line Bank, such Defaulting Lender’s Ratable Share of outstanding Swing Line Advances        made by such Swing Line Bank other than Swing Line Advances as to which such Defaulting        Lender’s participation obligation has been reallocated to other Lenders.               “GAAP”  means  generally  accepted  accounting  principles  set  forth  in  the  Financial        Accounting Standards Board (FASB) Accounting Standards Codification (as amended from time        to time) or in such other statements by such other authoritative entity as may be approved by a        significant segment of the accounting profession in the United States, which are applicable to the        circumstances as of the date of determination.               “Governmental Authority” means the government of the United States of America, any        other nation or any political subdivision thereof, whether state or local, and any agency, authority,        instrumentality,  regulatory  body,  court,  central  bank  or  other  entity  exercising  executive,        legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to        government.               “Guarantee” of or by any Person (the “guarantor”) means any obligation, contingent or        otherwise,  of  the  guarantor  guaranteeing  or  having  the  economic  effect  of  guaranteeing  any        Indebtedness  or  other  obligation of  any  other  Person  (the  “primary  obligor”)  in  any  manner,        whether directly or indirectly, and including any obligation of the guarantor, direct or indirect,        (a) to  purchase  or  pay  (or  advance  or  supply  funds  for  the  purchase  or  payment  of)  such        Indebtedness or other obligation or to purchase (or to advance or supply funds for the purchase        of) any security for the payment thereof, (b) to purchase or lease property, securities or services        for the purpose of assuring the owner of such Indebtedness or other obligation of the payment        thereof, (c) to maintain working capital, equity capital or any other financial statement condition        or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or        other obligation or (d) as an account party in respect of any letter of credit or letter of guaranty        issued  to  support  such  Indebtedness  or  obligation;  provided,  that  the  term  Guarantee  shall  not        include endorsements for collection or deposit in the ordinary course of business.               “Hazardous Materials”  means  all explosive  or radioactive  substances or wastes and  all        hazardous  or  toxic  substances,  wastes  or  other  pollutants,  including  petroleum  or  petroleum        distillates,  asbestos  or  asbestos  containing  materials,  polychlorinated  biphenyls,  radon  gas,        infectious or medical wastes and all other substances or wastes of any nature regulated pursuant        to any Environmental Law.               “Hedging  Agreement”  means  any  interest  rate  protection  agreement,  foreign  currency        exchange  agreement,  commodity  price  protection  agreement  or  other  interest  or  currency        exchange rate or commodity price hedging arrangement.               “ICE LIBOR” has the meaning specified in the definition of “Eurodollar Rate.”                                         8  NYDOCS02/1188161  

 

            “Increase Date” has the meaning specified in Section 2.18(a).               “Increasing Lender” has the meaning specified in Section 2.18(b).               “Indebtedness”  of  any  Person  means,  without  duplication,  (a) all  obligations  of  such        Person  for  borrowed  money  or  with  respect  to  deposits  or  advances  of  any  kind,  (b) all        obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all        obligations of such Person upon which interest charges are customarily paid, (d) all obligations of        such  Person  under  conditional  sale  or  other  title  retention  agreements  relating  to  property        acquired by such Person, (e) all obligations of such Person in respect of the  deferred purchase        price of property or services (excluding current accounts payable incurred in the ordinary course        of  business),  (f) all  Indebtedness  of  others  secured  by  (or  for  which  the  holder  of  such        Indebtedness  has  an  existing  right,  contingent  or  otherwise,  to  be  secured  by) any  Lien  on        property owned or acquired by such Person, whether or not the Indebtedness secured thereby has        been assumed, (g) all Guarantees by such Person of Indebtedness of others, (h) all Capital Lease        Obligations  of  such  Person,  (i) all  obligations,  contingent  or  otherwise,  of  such  Person  as  an        account  party  in  respect  of  letters  of  credit  and  letters  of  guaranty  and  (j) all  obligations,        contingent or otherwise, of such Person in respect of bankers’ acceptances; provided, however,        that “Indebtedness” shall not include (x) Secured Nonrecourse Obligations and (y) nonrecourse        obligations incurred in connection with leveraged lease transactions as determined in accordance        with GAAP.               “Indemnified Taxes” means Taxes other than Excluded Taxes.               “Information  Memorandum”  means  the  confidential  information  memorandum  dated        April 30, 2019 used by the Agent in connection with the syndication of the Commitments.               “Interest Period” means, for each Eurodollar Rate Advance comprising part of the same        Borrowing, the period commencing on the date of such Eurodollar 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,        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  week or one, two, three  or six        months  or,  subject to  clause  (c)  of  this  definition,  twelve  months,  as  the  Borrower  may,  upon        notice not later than 1:00 P.M. (New York City time) on the third Business Day prior to the first        day of such Interest Period to the Agent (which shall promptly notify each of the Lenders), select;        provided, however, that:                     (a)   the Borrower may not select any Interest Period that ends after the final              Termination Date;                     (b)   Interest  Periods  commencing  on  the  same  date  for  Eurodollar  Rate              Advances comprising part of the same Borrowing shall be of the same duration;                     (c)   in the case of any Borrowing, the Borrower shall not be entitled to select              an Interest Period having a duration of 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 Agent that such Lender will be providing funding for the 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                                         9  NYDOCS02/1188161  

 

            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 Borrowing shall be one week or one, two, three or six months, as specified by              the  Borrower  in  the  applicable  Notice  of  Revolving  Credit  Borrowing as  the  desired              alternative to an Interest Period of twelve months;                     (d)   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, in the case of an              Interest Period measured in months, 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                     (e)   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  such  Interest  Period,  such  Interest  Period  shall  end  on  the  last              Business Day of such succeeding calendar month.               “Interpolated Rate” has the meaning specified in the definition of “Eurodollar Rate.”               “Issuing  Bank”  means  an  Initial  Issuing  Bank,  an  Assuming  Lender  or  any  Eligible        Assignee to which  a  portion of the  Letter of Credit Commitment hereunder has  been assigned        pursuant  to  Section  8.07  or  any  other  Lender  so  long  as  such  Eligible  Assignee  or  Lender        expressly agrees to 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 an Issuing Bank and notifies the Agent of        its Applicable Lending Office and its Letter of Credit Commitment (which information shall be        recorded by the Agent in the Register), for so long as the Initial Issuing Bank, Assuming Lender,        Eligible Assignee or Lender, as the case may be, shall have a Letter of Credit Commitment.  Any        Issuing Bank  may, in its  discretion, arrange  for one or more  Letters  of Credit to be  issued by        Affiliates of such Issuing Bank, in which case the term “Issuing Bank” shall include any such        Affiliate with respect to any Letter of Credit issued by such Affiliate.                “L/C Cash Collateral Account” means an interest bearing cash collateral account to be        established  and  maintained  by  the  Agent,  over  which  the  Agent shall have  sole  dominion  and        control, upon terms as may be satisfactory to the Agent.               “L/C Exposure” has the meaning specified in the definition of “Fronting Exposure.”               “L/C Related Documents” has the meaning specified in Section 2.06(b)(i).               “Lender Insolvency Event” means that (i) a Lender or its Parent Company is insolvent, or        is generally unable to pay its debts as they become due, or admits in writing its inability to pay its        debts as they become due, or makes a general assignment for the benefit of its creditors, or (ii) a        Lender  or  its  Parent  Company  is  the  subject  of  a  bankruptcy,  insolvency,  reorganization,        liquidation  or  similar  proceeding or  a  Bail-In  Action,  or  a  receiver,  trustee,  conservator,        intervenor or sequestrator or the like has been appointed for a Lender or its Parent Company, or a        Lender or its Parent Company has taken any action in furtherance of or indicating its consent to        or acquiescence in any such proceeding or appointment.                                          10  NYDOCS02/1188161  

 

            “Lenders” means the Initial Lenders, each Issuing Bank, each Assuming Lender that shall        become a party hereto pursuant to Section 2.18 or 2.19 and each Person that shall become a party        hereto pursuant to Section 8.07.               “Letter of Credit Agreement” has the meaning specified in Section 2.03(a).               “Letter  of  Credit  Commitment”  means,  with  respect  to  each  Initial  Issuing  Bank,  the        amount set forth opposite the Initial Issuing Bank’s name on Schedule I hereto under the caption        “Letter  of  Credit  Commitment”  or,  if  such  Initial  Issuing  Bank  has  entered  into  one  or  more        Assignment  and  Assumptions,  the  amount  set  forth  for  such  Issuing  Bank  in  the  Register        maintained  by  the  Agent  pursuant to  Section  8.07(c)  as  such  Issuing  Bank’s  “Letter  of  Credit        Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.               “Letter of Credit Facility” means, at any time, an amount equal to the lesser of (a) the        aggregate  amount  of  the  Issuing  Banks’  Letter  of  Credit  Commitments  at  such  time  and  (b)        $40,000,000, as such amount may be reduced at or prior to such time pursuant to Section 2.05.               “Letters of Credit” has the meaning specified in Section 2.01(b).               “LIBOR Swing Line Advance” means a Swing Line Advance that bears interest as        provided in Section 2.07(a)(iii)(B).               “LIBO Rate” means, for any Swing Line Borrowing, an interest rate per annum equal to        the  rate  per  annum  (rounded  upward to the  nearest whole  multiple  of  1/16  of  1% per annum)        appearing on Reuters  Screen  LIBOR01 Page (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 date of such Swing Line Borrowing for a term of one week 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  Swing  Line  Banks  in  London,        England  to  prime  banks  in  the  London  interbank  market  at  11:00 A.M.  (London  time)  two        Business Days before the date of such Swing Line Borrowing in an amount substantially equal to        such  Swing Line  Bank’s  Swing  Line  Advance  comprising  part  of  the  applicable  Swing  Line        Borrowing and for a period equal to one week.               “Lien”  means,  with  respect  to  any  asset,  (a) any  mortgage,  deed  of  trust,  lien,  pledge,        hypothecation, encumbrance, charge or security interest in, on or of such asset and (b) the interest        of  a  vendor  or  a  lessor  under  any  conditional  sale  agreement,  capital  lease  or  title  retention        agreement (or any financing lease having substantially the same economic effect as any of the        foregoing) relating to such asset, other than an operating lease.               “Material Adverse Effect” means a material adverse effect on (a) the business, financial        condition, operations or properties of the Borrower and its Subsidiaries taken as a whole, (b) the        ability  of  the  Borrower  to  perform  any  of  its  obligations  under  this  Agreement  (including  the        timely payment of all amounts due hereunder), (c) the rights of or benefits available to the Agent        and the Lenders under this Agreement or (d) the validity or enforceability of this Agreement.               “Material Indebtedness” means Indebtedness (other than the Advances), or obligations in        respect  of  one  or  more  Hedging  Agreements,  of  any  one  or  more  of  the  Borrower  and  its        Subsidiaries in a principal amount exceeding $50,000,000.  For purposes of determining Material        Indebtedness,  the  “principal  amount”  of  the  obligations  of  the  Borrower  or  any  Subsidiary  in                                         11  NYDOCS02/1188161  

 

      respect of any Hedging Agreement at any time shall be the maximum aggregate amount (giving        effect to any netting agreements) that the Borrower or such Subsidiary would be required to pay if        such Hedging Agreement were terminated at such time.               “Material  Subsidiary”  means  each  Subsidiary  that  either  (a)  as  of  the  end  of  the  most        recently  completed  fiscal  year  of  the  Borrower  for  which  audited  financial  statements  are        available, has assets that exceed 5% of the total consolidated balance sheet assets of the Borrower        and all of its Subsidiaries, as of the last day of such period or (b) for the most recently completed        fiscal year of the Borrower for which audited financial statements are available, has revenues that        exceed  10%  of  the  consolidated  revenue  of  the  Borrower  and  all  of  its  Subsidiaries  for  such        period.               “Moody’s” means Moody’s Investors Service, Inc.               “Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of        ERISA.               “Non-Consenting Lender” has the meaning specified in Section 2.19(b).               “Non-Defaulting Lender” means, at any time, a Lender that is not a Defaulting Lender.                “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        hereto, evidencing the aggregate indebtedness of the Borrower to such Lender resulting from the        Revolving Credit Advances made by such Lender.               “Notice of Issuance” has the meaning specified in Section 2.03(a).               “Notice of Revolving Credit Borrowing” has the meaning specified in Section 2.02(a).               “Notice of Swing Line Borrowing” has the meaning specified in Section 2.02(b).               “Other Taxes” means any and all present or future stamp or documentary taxes or any        other  excise  or  property  taxes,  charges  or  similar  levies  arising  from  any  payment  made        hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, this        Agreement.               “Parent  Company”  means,  with  respect  to  a  Lender,  the  bank  holding  company  (as        defined in Federal Reserve Board Regulation Y), if any, of such Lender, or if such Lender does        not have a bank holding company, then any corporation, association, partnership or other business        entity owning, beneficially or of record, directly or indirectly, a majority of the shares of such        Lender.               “Participant” has the meaning assigned to such term in clause (d) of Section 8.07.               “PBGC”  means  the  Pension Benefit  Guaranty  Corporation  referred  to  and  defined  in        ERISA and any successor entity performing similar functions.               “Permitted Encumbrances” means:                                          12  NYDOCS02/1188161  

 

                  (a)   Liens imposed by law for taxes or under ERISA in respect of contingent              liabilities  thereunder  that  are not  yet  due  or  are  being  contested  in  compliance  with              Section 5.01(d);                     (b)   carriers’, warehousemen’s, mechanics’, materialmen’s,  repairmen’s  and              other like Liens imposed by law, arising in the ordinary course of business and securing              obligations  that  are  not  overdue  by  more  than  30  days  or  are  being  contested  in              compliance with Section 5.01(d);                     (c)   pledges  and  deposits  made  in  the  ordinary  course  of  business  in              compliance  with  workers’  compensation,  unemployment  insurance  and  other  social              security laws or regulations;                     (d)   deposits  to  secure  the  performance  of  bids,  trade  contracts,  leases,              statutory obligations, surety and appeal bonds, performance bonds and other obligations              of a like nature, in each case in the ordinary course of business;                      (e)   easements, zoning restrictions,  rights-of-way and  similar encumbrances              on real property imposed by law or arising in the ordinary course of business that do not              secure  any  monetary  obligations  and  do  not  materially  detract  from  the  value  of  the              affected property or interfere with the ordinary conduct of business of the Borrower or              any of its Subsidiaries; and                     (f)   banker’s liens and rights of set-off;               provided that  the  term  “Permitted  Encumbrances”  shall  not  include  any  Lien  securing        Indebtedness.               “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  any  employee  pension  benefit  plan  (other  than  a  Multiemployer  Plan)        subject  to  the  provisions  of  Title  IV  of  ERISA  or  Section 412  of  the  Code  or  Section 302  of        ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were        terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in        Section 3(5) of ERISA.               “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 or, if any such rating agency shall have        issued  more  than  one  such  rating,  the  lowest  such  rating  issued  by  such  rating  agency.   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 and the Applicable Percentage 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 and the Applicable Percentage will be set in accordance with Level 5 under        the definition of “Applicable Margin” or “Applicable Percentage”, as the case may be; (c) if the        ratings established by S&P and Moody’s shall fall within different levels, the Applicable Margin        and the Applicable Percentage shall be based upon the higher rating unless such ratings differ by        two or more levels, in which case the applicable level will be deemed to be one level below the        higher of such levels; (d) if any rating established by S&P or Moody’s shall be changed, such                                         13  NYDOCS02/1188161  

 

      change shall be effective as of the date on which such change is first announced publicly by the        rating agency making such change; and (e) 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.               “Ratable  Share”  of  any  amount  means,  with  respect  to  any  Lender  at  any  time,  the        product of (a) a fraction the numerator of which is the amount of such Lender’s Revolving Credit        Commitment  at  such  time  and  the  denominator  of  which  is  the  aggregate  Revolving  Credit        Commitments at such time and (b) such amount.               “Register” has the meaning specified in Section 8.07(c).               “Related  Parties”  means,  with  respect  to  any  Person,  such  Person’s  Affiliates  and  the        partners, directors, officers, employees, agents, trustees, administrators, managers, advisors and        representatives of such Person and of such Person’s Affiliates.               “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; provided that if any Lender shall be a Defaulting Lender at        such time, there shall be excluded from the determination of Required Lenders at such time the        Revolving Credit Commitments of such Defaulting Lender at such time.               “Revolving Credit Advance” means an advance by a Lender to the Borrower as part of a        Revolving  Credit  Borrowing  under  Section  2.01(a), or  by  an  Issuing  Bank  in accordance  with        Section 2.03(c), and refers to a Base Rate Advance or a Eurodollar Rate Advance (each of which        shall be a “Type” of Advance).               “Revolving Credit Borrowing” means a borrowing consisting of simultaneous Revolving        Credit Advances of the same Type made by the Lenders.               “Revolving  Credit  Commitment”  means  as  to  any  Lender  (a) the  amount  set  forth        opposite  such  Lender’s  name  on  Schedule  I  hereto  as  such  Lender’s  “Revolving  Credit        Commitment”,  (b) if  such  Lender  has  become  a  Lender  hereunder  pursuant  to  an  Assumption        Agreement, the amount set forth in such Assumption Agreement or (c) if such Lender has entered        into  any  Assignment  and  Assumption,  the  amount  set  forth  for  such  Lender  in  the  Register        maintained by the Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to        Section 2.05.               “Revolving  Credit  Facility”  means,  at  any  time,  the  aggregate  amount  of the  Lenders’        Revolving Credit Commitments at such time.               “S&P” means S&P Global Ratings.               “Sanctioned Country” means, at any time, a country or territory which is the subject or        target of any comprehensive territorial Sanctions.               “Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related        list  of  designated  Persons  maintained  by  the  Office  of  Foreign  Assets  Control  of  the  U.S.        Department of the Treasury or the U.S. Department of State, or any Person in which such listed                                          14  NYDOCS02/1188161  

 

      Person owns, directly or indirectly, a 50 percent or greater interest, or (b) any Person permanently        located, organized or resident in a Sanctioned Country.               “Sanctions” means  economic  or  financial  sanctions  or  trade  embargoes  imposed,        administered or enforced from time to time by (a) the Office of Foreign Assets Control of the        U.S.  Department  of  the  Treasury  or  the  U.S.  Department  of  State,  or  (b)  the  United  Nations        Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom.               “Screen Rate” has the meaning specified in the definition of “Eurodollar Rate.”               “Secured Nonrecourse Obligations” means (i) secured obligations of the Borrower taken        on a consolidated basis where recourse of the payee of such obligations is expressly limited to an        assigned lease or loan receivable and the property related thereto, (ii) debt of Single Transaction        Subsidiaries or (iii) liabilities of the Borrower taken on a consolidated basis to manufacturers of        leased  equipment  where  such  liabilities  are  payable  solely  out  of  revenues  derived  from  the        leasing  or  sale  of  such  equipment;  excluding,  however, nonrecourse  obligations  incurred  in        connection with leveraged lease transactions as determined in accordance with GAAP.               “Single  Transaction  Subsidiary”  means  any  Subsidiary  whose  assets  consist  solely  of        financing  transactions and the proceeds thereof with one or more obligors where the obligations        of such Subsidiary are  not guaranteed  by the  Borrower or any other Subsidiary and  for which        neither the Borrower nor such other Subsidiary is liable.               “subsidiary”  means,  with  respect  to  any  Person  (the  “Parent”)  at  any  date,  any  other        Person that, as of such date, the accounts of which would be consolidated with those of the Parent        in  the  Parent’s  consolidated  financial  statements  if  such  financial  statements  were  prepared  in        accordance  with  GAAP,  as  well  as  any  other  Person  of  which  securities  or  other  ownership        interests  representing  more  than  50%  of  the  equity  or  more  than  50%  of  the  ordinary  voting        power or, in the case of a partnership, more than 50% of the general partnership interests are, as        of such date, owned, controlled or held.               “Subsidiary” means any subsidiary of the Borrower.               “Swing  Line  Advance”  means  an  advance  made  by any  Swing  Line  Bank  pursuant  to        Section 2.01(c) or any Lender pursuant to Section 2.02(b).               “Swing Line Bank” means Citibank, any other Lender that expressly agrees to 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  an  Swing  Line  Bank  and  notifies  the  Agent  of  its  Swing  Line        Commitment, or their respective successors and assigns.               “Swing Line Borrowing” means a borrowing consisting of a Swing Line Advance made        by any Swing Line Bank.               “Swing Line Commitment” means with respect to any Swing Line Bank at any time the        amount set forth opposite such Swing Line Bank’s name on Schedule I hereto, as such amount        may be reduced pursuant to Section 2.05.               “Swing Line Facility” has the meaning specified in Section 2.01(c).                                          15  NYDOCS02/1188161  

 

            “Taxes”  means  any  and  all  present  or  future  taxes,  levies,  imposts,  duties,  deductions,        charges or withholdings imposed by any Governmental Authority.               “Termination  Date” means  the  earlier  of  (a) May  23,  2024,  subject  to  the  extension        thereof pursuant to Section 2.19 and (b) the date of termination in whole of the Commitments        pursuant to Section 2.05 or 6.01; provided, however, that the Termination Date of any Lender that        is  a  Non-Consenting  Lender  to  any  requested  extension  pursuant  to  Section  2.19  shall  be  the        Termination Date in effect immediately prior to the applicable Extension Date for all purposes of        this Agreement.               “Transactions” means the execution, delivery and performance by the Borrower of this        Agreement,  the  borrowing  of  Advances,  the  issuance  of  Letters  of  Credit  and  the  use  of  the        proceeds thereof.               “Unused Revolving Credit Commitment” means, with respect to each 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 Advances made by such Lender (in its capacity as a Lender)        and outstanding at such time, plus (ii) such Lender’s Ratable Share of (A) the aggregate Available        Amount of all the Letters of Credit outstanding at such time, (B) the aggregate principal amount        of all Advances made by each Issuing Bank pursuant to Section 2.03(c) that have not been ratably        funded by such Lender and outstanding at such time and (C) the aggregate principal amount of all        Swing Line Advances then outstanding, in each case after giving effect to any adjustments made        in accordance with Section 2.20(a).               “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a complete        or  partial  withdrawal  from  such  Multiemployer  Plan,  as  such  terms  are  defined  in  Part I  of        Subtitle E of Title IV of ERISA.               SECTION 1.02.  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 GAAP in effect from time to time.  All computations determining  compliance with financial covenants or terms shall be prepared in accordance with GAAP in effect from  time to  time.   If  at  any  time  any  change  in  GAAP  or  the  required  adoption  by  the  Borrower  of  international  financial  reporting  standards  would  affect  the  computation  of  any  financial  ratio  or  requirement set forth in this Agreement, and either the Borrower or the Majority Lenders shall so request,  the Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement  to  preserve  the  original  intent  thereof  in  light  of  such  change  in  GAAP  or  the  adoption  of  such  international  financial  reporting  standards  (subject  to  the  approval  of  the  Majority  Lenders);  provided  that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with  GAAP prior to such change therein or the adoption of such international financial reporting standards and  (ii) the Borrower shall provide to the Agent and the Lenders financial statements and other documents  required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between  calculations of such ratio or requirement made before and after giving effect to such change in GAAP or  the adoption of such international financial reporting standards.               SECTION 1.04.  Divisions.  For all purposes under this Agreement, in connection with  any  division  or  plan  of  division  under  Delaware  law  (or  any  comparable  event  under  a  different  jurisdiction’s laws):  (a) if any asset, right, obligation or liability of any Person becomes the asset, right,                                         16  NYDOCS02/1188161  

 

obligation  or  liability  of a  different  Person,  then it  shall  be  deemed  to  have  been  transferred  from  the  original  Person  to  the  subsequent  Person,  and  (b)  if  any  new  Person  comes  into  existence,  such  new  Person  shall  be  deemed  to  have  been  organized  and  acquired  on  the  first date  of  its  existence  by  the  holders of its Equity Interests at such time.                                     ARTICLE II            AMOUNTS AND TERMS OF THE ADVANCES AND LETTERS OF CREDIT               SECTION 2.01.  The Advances and Letters of Credit.  (a)  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 applicable to such Lender in an amount not to exceed at any time such  Lender’s Unused Revolving Credit Commitment.  Each Borrowing shall be in an aggregate amount of  $1,000,000 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 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).               (b)   Letters  of  Credit.   Each  Issuing  Bank  agrees,  on  the  terms  and  conditions  hereinafter set forth, to issue letters of credit (each, a “Letter of Credit”) for the account of the Borrower  from time to time on any Business Day during the period from the Effective Date until 30 days before the  final Termination Date in an aggregate Available Amount (i) for all Letters of Credit not to exceed at any  time the Letter of Credit Facility at such time, (ii) for all Letters of Credit issued by each Issuing Bank not  to exceed at any time the lesser of such Issuing Bank’s Letter of Credit Commitment at such time and  such Issuing Bank’s Unused Revolving Credit Commitment at such time and (iii) for each such Letter of  Credit not to exceed an amount equal to the Unused Revolving Credit Commitments of the Lenders at  such time.  Each Letter of Credit shall be for an amount of $40,000 or more.  No Letter of Credit shall  have an expiration date (including all rights of the Borrower or the beneficiary to require renewal) later  than the earlier of (x) the date that is one year after the date of issuance thereof or (y) 10 Business Days  prior to the Termination Date, provided that no Letter of Credit may expire after the Termination Date of  any  Non-Consenting  Lender  if,  after  giving  effect  to  such  issuance,  the  aggregate  Revolving  Credit  Commitments of the Consenting Lenders (including any replacement Lenders) for the period following  such  Termination  Date  would  be  less  than  the  sum  of  the  Available  Amount  of  the  Letters  of  Credit  expiring after such Termination Date plus the aggregate outstanding Revolving Credit Advances of the  Consenting  Lenders.   Within  the  limits  referred  to  above,  the  Borrower  may  request  the  issuance  of  Letters  of  Credit  under  this  Section 2.01(b),  repay  any  Revolving  Credit  Advances  resulting  from  drawings thereunder pursuant to Section 2.03(c) and request the issuance of additional Letters of Credit  under  this  Section 2.01(b).   Each  letter  of  credit  listed  on  Schedule  2.01(b)  (the  “Existing  Letters  of  Credit”) shall be  deemed  to constitute a  Letter of Credit issued  hereunder, and each  Lender that is  an  issuer of such a Letter of Credit shall, for purposes of Section 2.03, be deemed to be an Issuing Bank for  each such letter of credit, provided than any renewal or replacement of any such letter of credit shall be  issued by an Issuing Bank pursuant to the terms of this Agreement.               (c)   The  Swing Line  Advances.   Each  Swing  Line  Bank  severally  agrees,  on  the  terms and conditions hereinafter set forth, to make Swing Line Advances to the Borrower from time to  time on any Business Day during the period from the Effective Date until the Termination Date applicable  to such Swing Line Bank (i) in an aggregate amount not to exceed at any time outstanding (x) the lesser  of such Swing Line  Bank’s  Swing Line  Commitment and such Swing Line  Bank’s  Unused Revolving  Credit  Commitment  at  such  time or  (y)  for  all  Swing  Line  Advances,  $30,000,000  (the  “Swing  Line                                         17  NYDOCS02/1188161  

 

Facility”) and (ii) in an amount for each such Advance not to exceed the aggregate Unused Revolving  Credit Commitments of the Lenders at such time.  No Swing Line Advance shall be used for the purpose  of funding the payment of principal of any other Swing Line Advance.  Each Swing Line Borrowing shall  be in an amount of $1,000,000 or an integral multiple of $1,000,000 in excess thereof.  Within the limits  referred to above, the Borrower may borrow under this Section 2.01(c), prepay pursuant to Section 2.10  and reborrow under this Section 2.01(c).               SECTION 2.02.  Making the  Advances.  (a)  Except as otherwise  provided in Section  2.02(b) or Section 2.03(c), each Borrowing shall be made on notice, given not later than (x) 1:00 P.M.  (New York City time) on the third Business Day prior to the date of the proposed Borrowing in the case  of a Borrowing consisting of Eurodollar Rate Advances or (y) 1:00 P.M. (New York City time) on the  date of the  proposed Borrowing in the case of a  Borrowing consisting of Base Rate Advances, by the  Borrower to the Agent, which shall give to each Lender prompt notice thereof by facsimile.  Each such  notice  of  a  Borrowing  (a  “Notice  of  Revolving  Credit  Borrowing”)  shall  be  by  telephone,  confirmed  immediately in writing, or facsimile in substantially the form of Exhibit B hereto, specifying therein the  requested (i) date of such Borrowing, (ii) Type of Advances comprising such Borrowing, (iii) aggregate  amount of such Borrowing, and (iv) in the case of a Borrowing consisting of Eurodollar Rate Advances,  initial Interest Period for each such Advance.  Each Lender shall, before 3:00 P.M. (New York City time)  on the date of such 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 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  Borrower’s  account  as  specified  in  writing by two Financial Officers of the Borrower; provided, however, that the Agent shall first make a  portion of such funds equal to the aggregate principal amount of any Swing Line Advances made by the  Swing  Line  Banks  and  by  any  other  Lender  and  outstanding  on  the  date  of  such  Revolving  Credit  Borrowing, plus interest accrued and unpaid thereon to and as of such date, available to the Swing Line  Banks and such other Lenders for repayment of such Swing Line Advances.               (b)   Each Swing Line Borrowing shall be made on notice, given not later than 3:00  P.M. (New York City time) on the date of the proposed Swing Line Borrowing by the Borrower to each  Swing Line Bank and the Agent, of which the Agent shall give prompt notice to the Lenders.  Each such  notice  of  a  Swing  Line  Borrowing  (a  “Notice  of  Swing  Line  Borrowing”)  shall  be  by  telephone,  confirmed at once in writing, or facsimile, specifying therein the requested (i) date of such Borrowing, (ii)  amount of such Borrowing, (iii) maturity of such Borrowing (which maturity shall be no later than the  fifth  Business  Day  after  the  requested  date  of  such  Borrowing)  and  (iv)  whether  such  Swing  Line  Borrowing  will  bear  interest  as  a  Fed  Funds  Swing  Line  Advance  or  a  LIBOR  Swing  Line  Advance.   Each Swing Line Bank shall, before 5:00 P.M. (New York City time) on the date of such Swing Line  Borrowing, make such Swing Line Bank’s ratable portion of such Swing Line Borrowing available (based  on  the  respective  Swing  Line  Commitments  of  the  Swing  Line  Banks)  to  the  Agent  at  the  Agent’s  Account,  in  same  day  funds.   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 Borrower’s account as specified in writing by two Financial Officers of the Borrower.  Upon written  demand by any Swing Line Bank with a Swing Line Advance, with a copy of such demand to the Agent,  each other Lender will purchase from such Swing Line Bank, and such Swing Line Bank shall sell and  assign  to  each  such  other  Lender,  such  other  Lender’s  Ratable  Share  of  such  outstanding  Swing  Line  Advance,  by  making  available  for  the  account  of  its  Applicable  Lending  Office  to  the  Agent  for  the  account  of  such  Swing  Line  Bank,  by  deposit to the  Agent’s  Account,  in  same  day  funds,  an  amount  equal to the portion of the outstanding principal amount of such Swing Line Advance to be purchased by  such  Lender.  The  Borrower  hereby  agrees  to each  such  sale  and  assignment.  Each  Lender  agrees  to  purchase  its  Ratable  Share  of  an  outstanding  Swing  Line  Advance  on  (i)  the  Business  Day  on  which  demand therefor is made by the Swing Line Bank which made such Advance, provided that notice of such                                         18  NYDOCS02/1188161  

 

demand is given not later than 11:00 A.M. (New York City time) on such Business Day or (ii) the first  Business Day next succeeding such demand if notice of such demand is given after such time.  Upon any  such assignment by Swing Line Bank to any other Lender of a portion of a Swing Line Advance, such  Swing Line Bank represents and warrants to such other Lender that such Swing Line Bank is the legal and  beneficial owner of such interest being assigned by it, but makes no other representation or warranty and  assumes no responsibility with respect to such Swing Line Advance, this Agreement, the Notes or the  Borrower.  If and to the extent that any Lender shall not have so made the amount of such Swing Line  Advance available  to  the  Agent,  such  Lender  agrees  to  pay  to  the  Agent  forthwith  on  demand  such  amount together with interest thereon, for each day from the date such Lender is required to have made  such amount available to the Agent until the date such amount is paid to the Agent, at the Federal Funds  Rate.  If such Lender shall pay to the Agent such amount for the account of such Swing Line Bank on any  Business Day, such amount so paid in respect of principal shall constitute a Swing Line Advance made by  such Lender on such Business Day for purposes of this Agreement, and the outstanding principal amount  of the Swing Line Advance made by such Swing Line Bank shall be reduced by such amount on such  Business day.               (c)   Anything  in  subsection (a)  above  to  the  contrary notwithstanding,  (i) the  Borrower may not select Eurodollar Rate Advances for any Borrowing if the aggregate amount of such  Borrowing is less than $1,000,000 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 six separate Borrowings.               (d)   Each  Notice  of  Revolving  Credit  Borrowing  and  Notice  of  Swing  Line  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 (including the  Applicable Margin)), cost or expense incurred by reason of the liquidation or reemployment of deposits or  other funds as a result of any failure to fulfill on or before the date specified in such Notice of Revolving  Credit Borrowing or Notice of Swing Line Borrowing for such Borrowing the applicable conditions set  forth in Article III.               (e)   Unless the Agent shall have received notice from a Lender or a Swing Line Bank  prior to the time of any Revolving Credit Borrowing or Swing Line Borrowing, as the case may be, that  such  Lender  or  Swing  Line  Bank  will  not  make  available  to  the  Agent  such  Lender’s  or  Swing  Line  Bank’s ratable portion of such Revolving Credit Borrowing or Swing Line Borrowing, as the case may  be, the Agent may assume that such Lender or Swing Line Bank has made such portion available to the  Agent  on the  date  of  such  Borrowing  in  accordance with subsection (a)  or  (b) of this  Section 2.02,  as  applicable, 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 or Swing Line Bank 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  the  Advances  comprising such Borrowing and (ii) in the case of such Lender or Swing Line Bank, the Federal Funds  Rate.   If  such  Lender  or  Swing  Line  Bank  shall repay  to  the  Agent such  corresponding  amount, such  amount  so  repaid  shall  constitute  such  Lender’s  or  Swing  Line  Bank’s  Advance  as  part  of  such  Borrowing for purposes of this Agreement.                                          19  NYDOCS02/1188161  

 

            (f)   The  failure  of  any  Lender  or  Swing  Line  Bank  to  make  the  Revolving  Credit  Advance or Swing Line Advance to be made by it as part of any Borrowing shall not relieve any other  Lender or Swing Line Bank of its obligation, if any, hereunder to make its Revolving Credit Advance or  Swing Line Advance on the date of such Revolving Credit Borrowing or Swing Line Borrowing as the  case may be, but no Lender or Swing Line Bank shall be responsible for the failure of any other Lender or  Swing Line Bank to make the Revolving Credit Advance or Swing Line Advance to be made by such  other  Lender  or  Swing  Line  Bank  on  the  date  of  any  Revolving  Credit  Borrowing  or  Swing  Line  Borrowing, as the case may be.               SECTION 2.03.  Issuance of and Drawings and Reimbursement Under Letters of Credit.   (a)  Request  for  Issuance.   Each  Letter  of  Credit  shall  be  issued  upon  notice,  given  not  later  than  1:00 P.M. (New York City time) on the fifth Business Day prior to the date of the proposed issuance of  such  Letter  of  Credit  (or  on  such  shorter  notice  as  the  applicable  Issuing  Bank  may  agree),  by  the  Borrower  to  any  Issuing  Bank,  and  such  Issuing  Bank  shall  give  the  Agent  prompt  notice  thereof  by  facsimile.   Each  such  notice  of  issuance  of  a  Letter  of  Credit  (a  “Notice  of  Issuance”)  shall  be  by  telephone, confirmed immediately in writing, or facsimile, specifying therein the requested (A) date of  such  issuance  (which  shall  be  a  Business  Day),  (B) Available  Amount  of  such  Letter  of  Credit,  (C) expiration date of such Letter of Credit (which shall not be later than the earlier of (x) 10 Business  Days prior to the Termination Date and (y) one year after the issuance thereof), (D) name and address of  the beneficiary of such Letter of Credit and (E) form of such Letter of Credit, and shall be accompanied  by such customary application and agreement for letter of credit as such Issuing Bank may specify to the  Borrower for use in connection with such requested Letter of Credit (a “Letter of Credit Agreement”).  If  the requested form of such Letter of Credit is acceptable to such Issuing Bank in its sole discretion, such  Issuing Bank will, upon fulfillment of the applicable conditions set forth in Article III, make such Letter  of Credit available to the Borrower requesting such issuance at its office referred to in Section 8.02 or as  otherwise agreed with the Borrower in connection with such issuance.  In the event and to the extent that  the provisions of any Letter of Credit Agreement shall conflict with this Agreement, the provisions of this  Agreement shall govern.               If the Borrower so requests with respect to any Letter of Credit, an Issuing Bank may, in  its sole and absolute discretion, agree to issue a Letter of Credit that has automatic extension provisions  (each,  an  “Auto-Extension  Letter  of  Credit”); provided that  any  such  Auto-Extension  Letter  of  Credit  must permit the Issuing Bank to prevent any such extension at least once in each twelve-month period  (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary  thereof not later than a day (the “Nonextension Notice Date”) in each such twelve-month period to be  agreed upon at the time such Letter of Credit is issued.  Unless otherwise directed by an Issuing Bank, the  Borrower shall not be required to make a specific request to such Issuing Bank for any such extension.   Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have authorized  (but may not require) the Issuing Bank to permit the extension of such Letter of Credit at any time to an  expiry date not later than 10 Business Days prior to the Termination Date; provided, however, that an  Issuing Bank shall not permit any such extension if  such Issuing Bank has determined that it would not  be permitted at such time to issue such Letter of Credit in its revised form (as extended) under the terms  hereof  by  reason  of  (A)  the  provisions  of  Section 2.01(b)  or  (B)  the  failure  of  one  or  more  of  the  applicable conditions specified in Section 3.02 to be then satisfied.               (b)   Participations.  By the issuance of a Letter of Credit (or an amendment to a Letter  of  Credit  increasing  the  amount  thereof)  and  without  any  further  action  on  the  part  of  the  applicable  Issuing Bank or the Lenders, such Issuing Bank hereby grants to each Lender, and each Lender hereby  acquires from such Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Ratable  Share of the aggregate amount available to be drawn under such Letter of Credit.  The Borrower hereby  agrees  to  each  such  participation.   In  consideration and  in  furtherance  of  the  foregoing,  each  Lender                                         20  NYDOCS02/1188161  

 

hereby absolutely and unconditionally agrees to pay to the Agent, for the account of such Issuing Bank,  such Lender’s Ratable Share of each drawing made under a Letter of Credit funded by such Issuing Bank  and not reimbursed by the Borrower on the date made, or of any reimbursement payment required to be  refunded to the Borrower for any reason.  Each Lender acknowledges and agrees that its obligation to  acquire  participations  pursuant  to  this  paragraph  in  respect  of  Letters  of  Credit  is  absolute  and  unconditional  and  shall  not  be  affected  by  any  circumstance  whatsoever,  including  any  amendment,  renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction  or termination of the Revolving Credit Commitments, and that each such payment shall be made without  any  offset,  abatement,  withholding  or  reduction  whatsoever.   Each  Lender  further  acknowledges  and  agrees that its participation in each Letter of Credit will be automatically adjusted to reflect such Lender’s  Ratable Share of the Available Amount of such Letter of Credit at each time such Lender’s Revolving  Credit Commitment is amended pursuant to the operation of Section 2.18, an assignment in accordance  with Section 8.07 or otherwise pursuant to this Agreement.               (c)   Drawing  and  Reimbursement.   Except  to  the  extent  that  the  Borrower  has  previously provided to the applicable Issuing Bank funds in an amount equal to such draft drawn under a  Letter  of  Credit,  the  payment  by  such  Issuing  Bank  of  a  draft  drawn  under  any  Letter  of  Credit  shall  constitute for all purposes of this Agreement the making by any such Issuing Bank of a Revolving Credit  Advance, which shall be a Base Rate Advance, in the amount of such draft.  Each Issuing Bank shall give  prompt notice (and such Issuing Bank will use its commercially reasonable efforts to deliver such notice  within one Business Day) of each drawing under any Letter of Credit issued by it to the Borrower and the  Agent.   Upon  written  demand  by  such  Issuing  Bank,  with a  copy  of  such  demand  to  the  Agent, each  Lender  shall  pay  to  the  Agent  such  Lender’s  Ratable  Share  of  such  outstanding  Revolving  Credit  Advance,  by  making  available  for  the  account  of  its  Applicable  Lending  Office  to  the  Agent  for  the  account of such Issuing Bank, by deposit to the Agent’s Account, in same day funds, an amount equal to  the portion of the outstanding principal amount of such Revolving Credit Advance to be funded by such  Lender.  Promptly after receipt thereof, the Agent shall transfer such funds to such Issuing Bank.  Each  Lender agrees to fund its Ratable Share of an outstanding Revolving Credit Advance on (i) the Business  Day on which demand therefor is made by such Issuing Bank, provided that notice of such demand is  given not later than 11:00 A.M. (New York City time) on such Business Day, or (ii) the first Business  Day next succeeding such demand if notice of such demand is given after such time.  If and to the extent  that any Lender shall not have so made the amount of such Revolving Credit Advance available to the  Agent, such Lender agrees to pay to the Agent forthwith on demand such amount together with interest  thereon, for each day from the date of demand by any such Issuing Bank until the date such amount is  paid  to  the  Agent,  at  the  Federal  Funds  Rate  for  its  account  or  the  account  of  such  Issuing  Bank,  as  applicable.  If such Lender shall pay to the Agent such amount for the account of any such Issuing Bank  on  any  Business  Day,  such  amount  so  paid  in  respect  of  principal shall  constitute  a  Revolving  Credit  Advance made by such Lender on such Business Day for purposes of this Agreement, and the outstanding  principal amount of the Revolving Credit Advance made by such Issuing Bank shall be reduced by such  amount on such Business Day.               (d)   Letter of Credit Reports.  Each Issuing Bank shall furnish (i) to the Agent on the  first Business Day of each month a written report summarizing issuance and expiration dates of Letters of  Credit  issued  by  it  during  the  preceding  month  and  drawings  during  such  month  under  all  Letters  of  Credit and (ii) to the Agent and each Lender on the first Business Day of each calendar quarter a written  report setting forth the average daily aggregate Available Amount during the preceding calendar quarter  of all Letters of Credit issued by it.               (e)   Failure to Make Revolving Credit Advances.  The failure of any Lender to make  the Revolving Credit Advance to be made by it on the date specified in Section 2.03(c) shall not relieve  any other Lender of its obligation hereunder to make its Revolving Credit Advance on such date, but no                                         21  NYDOCS02/1188161  

 

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 such date.               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  Assumption  Agreement  or  in  the  Assignment  and  Assumption  pursuant  to  which  it  became a Lender in the case of each other Lender until the Termination Date applicable to such Lender 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, 2019, and  on the final Termination Date, provided that no Defaulting Lender shall be entitled to receive any facility  fee in respect of its unused Commitment for any period during which that Lender is a Defaulting Lender  (and the Borrower shall not be required to pay such fee that otherwise would have been required to have  been paid to that Defaulting Lender).               (b)   Letter of Credit Fees.  (i)  The Borrower shall pay to the Agent for the account of  each  Lender  a  commission  on  such  Lender’s  Ratable  Share  of  the  average  daily  aggregate  Available  Amount of all Letters of Credit outstanding from time to time at a rate per annum equal to the Applicable  Margin for Eurodollar Rate Advances in effect from time to time, payable in arrears quarterly on the last  day  of  each  March,  June,  September  and  December,  commencing  June  30,  2019,  and  on  the final  Termination  Date,  and  after  the  final  Termination  Date  payable  upon  demand; provided that  the  Applicable Margin shall increase by 2% upon the occurrence and during the continuation of an Event of  Default if the Borrower is required to pay default interest pursuant to Section 2.07(b); provided, further,  that at any time there is a Defaulting Lender, (i) no Defaulting Lender shall be entitled to receive any such  fees or commissions, (ii) to the extent that all or a portion of the L/C Exposure of any Defaulting Lender  is  reallocated  to  the  Non-Defaulting  Lenders  pursuant  to  Section  2.20(a),  such  fees  that  would  have  accrued for the benefit of such Defaulting Lender will instead accrue for the benefit of and be payable to  such Non-Defaulting Lenders, pro rata in accordance with their respective Commitments, and (iii) to the  extent that all or any portion of the L/C Exposure cannot be so reallocated, such fees will instead accrue  for the benefit of and be payable to the Issuing Banks pro rata in accordance with their Ratable Share of  the average daily aggregate Available Amount of all Letters of Credit outstanding.               (ii)  The Borrower shall pay to each Issuing Bank for its own account such reasonable        and  customary  fronting,  issuance,  presentation,  amendment  and  other  processing  fees  as  may        from time to time be agreed in writing between the Borrower and such Issuing Bank.               (c)   Agent’s Fees.  The Borrower shall pay to the Agent for its own account such fees  as have been agreed between the Borrower and the Agent.               SECTION 2.05.  Optional Termination or Reduction of the Commitments.  The Borrower  shall have the right, upon at least three Business Days’ notice to the Agent (which shall promptly notify  each of the Lenders), to terminate in whole or permanently reduce ratably in part the Unused Revolving  Credit  Commitments, provided that  each  partial  reduction  (i)  shall  be  in  the  aggregate  amount  of  $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) shall be made ratably among  the Lenders in accordance with their Revolving Credit Commitments.               SECTION 2.06.  Repayment.  (a)  Revolving Credit Advances.  The Borrower shall repay  to the Agent for the ratable account of each Lender on the Termination Date applicable to such Lender the  aggregate principal amount of the Revolving Credit Advances made by such Lender and then outstanding.                                          22  NYDOCS02/1188161  

 

            (b)   Letter  of  Credit  Reimbursements.   The  obligations of  the  Borrower  under  this  Agreement, any Letter of Credit Agreement and any other agreement or instrument, in each case, relating  to any Letter of Credit shall be unconditional and irrevocable, and shall be paid strictly in accordance with  the terms of this Agreement, such Letter of Credit Agreement and such other agreement or instrument  under all circumstances, including, without limitation, the following circumstances (it being understood  that any such payment by the Borrower is without prejudice to, and does not constitute a waiver of, any  rights the Borrower might have or might acquire as a result of the payment by any Lender of any draft or  the reimbursement by the Borrower thereof):               (i)   any lack of validity or enforceability of this Agreement, any Letter of Credit, any        Letter of Credit Agreement or any other agreement or instrument, in each case, relating thereto        (all of the foregoing being, collectively, the “L/C Related Documents”);               (ii)  any change in the time, manner or place of payment of, or in any other term of,        all or any of the obligations of the Borrower in respect of any L/C Related Document or any other        amendment  or  waiver  of  or  any  consent  to  departure  from  all  or  any  of  the  L/C  Related        Documents;               (iii) the existence of any claim, set-off, defense or other right that the Borrower may        have at any time against any beneficiary or any transferee of a Letter of Credit (or any Persons for        which any such beneficiary or any such transferee may be acting), any Issuing Bank, the Agent,        any Lender or any other Person, whether in connection with the transactions contemplated by the        L/C Related Documents or any unrelated transaction;               (iv)  any statement or any other document presented under a Letter of Credit proving        to  be  forged,  fraudulent,  invalid  or  insufficient  in  any  respect  or  any  statement  therein  being        untrue or inaccurate in any respect;               (v)   payment by any Issuing Bank under a Letter of Credit against presentation of a        draft or certificate that does not strictly comply with the terms of such Letter of Credit;               (vi)  any  exchange,  release  or  non-perfection  of  any  collateral,  or  any  release  or        amendment  or  waiver  of  or  consent  to  departure  from  any  guarantee,  for  all  or  any  of  the        obligations of the Borrower in respect of the L/C Related Documents; or               (vii) any other circumstance or happening whatsoever, whether or not similar to any        of  the  foregoing,  including,  without  limitation,  any  other  circumstance  that  might  otherwise        constitute a defense available to, or a discharge of, the Borrower or a guarantor.               (c)   Swing  Line  Advances.  The  Borrower shall repay  to  the  Agent for the  ratable  account  of  the  Swing  Line  Banks  and  each  other  Lender  which  has  made  a  Swing  Line  Advance  the  outstanding principal amount of each Swing Line Advance made to it by each of them on the earlier of  the maturity date specified in the applicable Notice of Swing Line Borrowing (which maturity shall be no  later than five Business Days after the requested date of such Borrowing) and the final Termination Date.               SECTION 2.07.  Interest on Advances.  (a)  Scheduled Interest.  The Borrower shall pay  interest on the  unpaid principal amount of each Advance  owing to each Lender from the  date of such  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 Revolving Credit Advance is        a Base Rate Advance, a rate per annum equal at all times to the sum of (x) the Base Rate in effect                                          23  NYDOCS02/1188161  

 

      from time to time plus (y) the Applicable Margin 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  Revolving  Credit        Advance is a Eurodollar Rate Advance, a rate per annum equal at all times during each Interest        Period for such Advance to the sum of (x) the Eurodollar Rate for such Interest Period for such        Advance plus (y) the Applicable Margin 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.               (iii) Swing Line Advances.  (A) In the case of a Fed Funds Swing Line Advance, a        rate per annum equal at all times to the sum of (w) the Federal Funds Rate in effect from time to        time plus (x) 0.50 % per annum plus (y) the Applicable Margin for Eurodollar Rate Advances in        effect from time to time, and (B) in the case of a LIBOR Swing Line Advance, a rate per annum        equal  at all  times to  the  sum  of  (x) the  LIBO  Rate  for  such  Swing  Line  Advance plus (y) the        Applicable  Margin  for  Eurodollar  Rate  Advances  in  effect  from  time  to  time,  in  each  case        payable in arrears the date such Swing Line Advance shall be 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  Advance  owing to each Lender that is not paid when due, payable in arrears on the dates referred to in clause (a)  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  Advance  pursuant to  clause (a)  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)  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).               (b)   If, with respect to any Eurodollar Rate Advances under any Facility, the Lenders  owed at least 51% of the aggregate principal amount thereof 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  under  such  Facility  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 until the Agent shall notify the Borrower  that such Lenders have determined 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                                          24  NYDOCS02/1188161  

 

Advances will automatically, on the last day of the then existing Interest Period therefor, Convert into a  Eurodollar Rate Borrowing having an Interest Period of one month.               (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 $1,000,000, such Advances shall automatically Convert into Base Rate Advances.               (e)   Upon the occurrence and during the continuance of any Event of Default, (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 the Screen Rate and the Interpolated Rate are unavailable for determining the  Eurodollar Rate for any Eurodollar Rate Advances,               (i)   the Agent shall forthwith notify the Borrower and the Lenders that the interest        rate cannot be determined for such Eurodollar Rate Advances,               (ii)  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 to Convert        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.               (g)   Notwithstanding  anything  to  the  contrary  in  this  Agreement,  if  the  Agent  determines (which determination shall be conclusive absent manifest error), or the Borrower notifies the  Agent that it has determined, or the Required Lenders notify the Agent (with a copy to the Borrower) that  the Required Lenders have determined, that:               (i)   adequate and reasonable means do not exist for ascertaining ICE LIBOR for any        requested Interest Period, including, without limitation, because the Screen Rate is not available        or published on a current basis and such circumstances are unlikely to be temporary;                (ii)  the  supervisor  for  the  administrator  of  the Screen Rate  or  a  Governmental        Authority having jurisdiction over the Agent has made a public statement identifying a specific        date after which ICE LIBOR or the Screen Rate shall no longer be made available or used for        determining the interest rate of loans (such specific date, the “Scheduled Unavailability Date”)        (either  of  the  circumstances  described  in  clause  (i)  above  or  this  clause  (ii)  is  a  “Benchmark        Transition Event”); or               (iii) U.S. dollar-denominated syndicated credit facilities being executed at such time,        or that include language similar to that contained in this Section are being executed or amended,        as applicable, to incorporate or adopt a new benchmark replacement rate to replace ICE LIBOR        and the Agent, the Borrower or the Required Lenders, as applicable, have elected to declare that        an “Early-Opt-in Election” has occurred and the provision, as applicable, by the Agent of written        notice of such election to the Borrower and the Lenders, by the Borrower or the Required Lenders        of written notice of such election to the Agent,                                           25  NYDOCS02/1188161  

 

            then, after such determination by the  Agent or receipt by the  Agent of such notice,  as        applicable, the Agent and the Borrower shall endeavor to establish an alternative rate of interest        and may amend this Agreement to replace ICE LIBOR giving due consideration to an alternate        benchmark  rate  (including  any  mathematical  or  other  adjustments  to  the  benchmark  (if  any)        incorporated therein) that has been broadly accepted by the syndicated loan market in the United        States in lieu of ICE LIBOR (any such proposed rate, a “LIBOR Successor Rate”), together with        any  proposed  LIBOR  Successor  Rate  Conforming  Changes (as  defined  below) and,        notwithstanding anything to the contrary in Section 8.01, any such amendment with respect to a        Benchmark Transition Event shall become effective at 5:00 p.m. (New York time) on the fifth        Business Day after the Agent shall have posted such proposed amendment to all Lenders and the        Borrower unless, prior to such time, Lenders comprising the Required Lenders have delivered to        the Agent  notice  that  such  Required  Lenders  do  not  accept  such  amendment.  Any  such        amendment  with  respect  to  an  Early  Opt-in  Election  will  become  effective  on  the  date  that        Lenders comprising the Required Lenders have delivered to the Agent written notice that such        Required Lenders accept such amendment.               If no LIBOR Successor Rate has been determined and the circumstances under clause (i)        above exist or the Scheduled Unavailability Date has occurred, the obligation of the Lenders to        make  or  maintain Eurodollar  Rate  Advances shall  be  suspended  (to  the  extent  of  the  affected        Eurodollar Rate Advances or Interest Periods).  Upon receipt of such notice, the Borrower may        revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate        Advances (to the extent of the affected Eurodollar Rate Advances or Interest Periods) or, failing        that, will be deemed to have converted such request into a request for a Borrowing of Base Rate        Advances in the amount specified therein.               “LIBOR  Successor  Rate  Conforming  Changes”  means,  with  respect  to  any  proposed        LIBOR Successor Rate, any conforming changes to the definition of Base Rate, Interest Period,        timing  and  frequency  of  determining  rates  and  making  payments  of  interest  and  other        administrative matters as may be appropriate, in the discretion of the Agent (in consultation with        the  Borrower),  to  reflect  the  adoption  of  such  LIBOR  Successor  Rate  and  to  permit  the        administration thereof by the Agent in a manner substantially consistent with market practice (or,        if  the  Agent  determines  that  adoption  of  any  portion  of  such  market  practice  is  not        administratively  feasible  or  that  no  market  practice  for  the  administration  of  such  LIBOR        Successor  Rate  exists,  in  such  other  manner  of  administration  as  the  Agent determines  in        consultation with the Borrower).               SECTION 2.09.  Optional Conversion of Advances.  The Borrower may on any Business  Day, upon notice not later than 1:00 P.M. (New York City time) on the third Business Day prior to the  date  of  the  proposed  Conversion  to  the  Agent  (which  shall  promptly  notify  each  of  the  Lenders)  and  subject  to  the  provisions  of  Sections 2.08  and  2.12,  Convert  all  or  any  portion  of  Revolving  Credit  Advances  of  one  Type  comprising  the  same  Borrowing  into  Revolving  Credit  Advances  of  the  other  Type; provided, however, that 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(c), no Conversion of  any Advances shall result in more  separate  Borrowings  than  permitted  under Section 2.02(c) and  each  Conversion  of  Advances  comprising  part  of  the  same  Borrowing  shall  be  made  ratably  among  the  Lenders  in  accordance  with  their  Revolving  Credit  Commitments  and provided, further that  for  any  Conversion of Eurodollar Rate Advances into Base Rate Advances made other than on the last day of an  Interest  Period  for  such  Eurodollar  Rate  Advances  the  Borrower  shall  be  obligated  to  reimburse  the  Lenders in respect thereof pursuant to Section 8.04(c).  Each such notice of a Conversion shall, within the  restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted,                                          26  NYDOCS02/1188161  

 

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 Advances.  The Borrower may, upon notice at least two  Business Days prior to the date of such prepayment, in the case of Eurodollar Rate Advances, and not  later  than  1:00  P.M.  (New  York  City time)  on  the  date  of  such  prepayment, in  the  case  of  Base  Rate  Advances, to the Agent (which shall promptly notify each of the Lenders) 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 Advances comprising part of the same 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  $1,000,000 or an integral multiple of $1,000,000 in excess thereof, (y) each partial prepayment of Swing  Line Advances shall in an aggregate principal amount of not less than $1,000,000 and (z) 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).               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 agreeing to issue or of issuing or maintaining or participating in  Letters of Credit (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), (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 and (iii) any such costs reflected in the Eurodollar Rate Reserve Percentage), 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.  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)   Except to the extent reflected in the Eurodollar Rate Reserve Percentage, 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 or liquidity required  or expected to be  maintained by such Lender or any  corporation controlling such Lender and that the amount of such capital or liquidity is increased by or  based  upon the  existence of such Lender’s  commitment to lend or to issue or participate  in Letters  of  Credit hereunder and other commitments of this type or the issuance or maintenance of or participation in  the Letters of Credit (or similar contingent obligations), 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 or liquidity  to be allocable to the existence of such Lender’s commitment to lend  or to issue or participate in Letters of Credit hereunder or the issuance or maintenance of or participation  in the Letters of Credit.  For the avoidance of doubt, this Section 2.11(b) shall apply to all requests, rules,  guidelines or directives concerning capital adequacy or liquidity  (x) issued in connection with the Dodd- Frank Wall Street Reform and Consumer Protection Act or (y) promulgated by the Bank for International  Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the  United States or foreign regulatory authorities, in each case pursuant to Basel III, regardless of the date                                          27  NYDOCS02/1188161  

 

enacted, adopted or issued.  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 shall not constitute a waiver of such Lender’s right to demand such compensation; provided  that the Borrower shall not be required to compensate a Lender pursuant to this Section for any increased  costs or reductions incurred more than six months prior to the date that such Lender notifies the Borrower  of  the  change  or  circumstance  giving  rise  to  such  increased  costs  or  reductions  and  of  such  Lender’s  intention to claim compensation therefor; provided further that, if the change or circumstance giving rise  to such increased costs or reductions is retroactive, then the six-month 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  to  fund  or  maintain  Eurodollar  Rate  Advances  hereunder,  (a)  each  Eurodollar  Rate  Advance  under  the  Facility  under  which  such  Lender  has  a  Commitment  will  automatically,  upon  the  last  day  of  the  applicable  Interest  Period  or,  if  required  by  applicable  law,  immediately upon such demand, Convert into a Base Rate Advance and (b) the obligation of the Lenders  to  make  Eurodollar  Rate  Advances  or  to  Convert  Advances  into  Eurodollar  Rate  Advances  shall  be  suspended  until  the  Agent  shall  notify  the  Borrower  that  such  Lender  has  determined  that  the  circumstances causing such suspension no longer exist.               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 1:00 P.M. (New  York City time) on 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,  interest,  fees  or  commissions  ratably  (other  than  amounts  payable  pursuant  to  Section 2.04(b)(ii),  2.11,  2.14  or  8.04)  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 any Assuming Lender becoming a Lender hereunder as a result  of a Commitment Increase pursuant to Section 2.18 or an extension of the Termination Date pursuant to  Section 2.19, and upon the Agent’s receipt of such Lender’s Assumption Agreement and recording of the  information contained therein in the Register, from and after the applicable Increase Date or Extension  Date, as the case may be, the Agent shall make all payments hereunder and under any Notes issued in  connection  therewith  in  respect  of  the  interest  assumed  thereby  to  the  Assuming  Lender.   Upon its  acceptance of an Assignment and Assumption 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  Assumption, 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 Assumption  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 clause (i) of the definition of “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 or the Federal Funds Rate and of fees and Letter of  Credit commissions 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                                          28  NYDOCS02/1188161  

 

which such interest, fees or commissions 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, fee or  commission,  as  the  case  may  be; provided, however,  that,  if  such  extension  would  cause  payment  of  interest on or principal of Eurodollar 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.               (e)   If  the  Agent  receives  funds  for  application  to  the  obligations  hereunder  under  circumstances for which neither this Agreement nor the Borrower specify the Advances or the Facility to  which, or the manner in which, such funds are to be applied, the Agent may, but shall not be obligated to,  elect to distribute such funds to each Lender ratably in accordance with such Lender’s proportionate share  of the principal amount of all outstanding Advances and the Available Amount of all Letters of Credit  then outstanding, in repayment or prepayment of such of the outstanding Advances or other obligations  owed to such Lender, and for application to such principal installments, as the Agent shall direct.               SECTION 2.14.  Taxes.  (a) Any and all payments by or on account of any obligation of  the Borrower hereunder shall be made free and clear of and without deduction for any Taxes, except as  required by applicable law; provided that if the Borrower shall be required by applicable law to deduct  any Taxes from such payments, then (i) if such Taxes are Indemnified Taxes or Other Taxes, the sum  payable shall be increased as necessary so that after making all required deductions (including deductions  applicable to additional sums payable under this Section) the Agent, Lender or Issuing Bank (as the case  may  be)  receives  an  amount  equal  to  the  sum  it  would  have  received  had  no  deductions  of  such  Indemnified Taxes or Other Taxes been made, (ii) the Borrower shall make such deductions and (iii) the  Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance with  applicable law.               (b)   In  addition,  the  Borrower  shall  pay  any  Other  Taxes  to  the  relevant  Governmental Authority in accordance with applicable law.               (c)   The  Borrower shall indemnify the  Agent, each Lender and  each  Issuing Bank,  within  10  days  after  written  demand  therefor,  for  the  full  amount  of  any  Indemnified  Taxes  or  Other  Taxes (including Indemnified Taxes  or Other Taxes imposed or asserted on or attributable to amounts  payable under this Section) paid by the Agent, such Lender or the Issuing Bank, as the case may be, and  any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not  such  Indemnified  Taxes  or  Other  Taxes  were  correctly  or  legally  imposed  or  asserted  by  the  relevant  Governmental  Authority.   A  certificate  as  to  the  amount  of  such  payment  or  liability  setting  forth  in  reasonable detail the basis and calculation of such amount delivered to the Borrower by a Lender or an                                          29  NYDOCS02/1188161  

 

Issuing Bank, or by the Agent on its own behalf or on behalf of a Lender or an Issuing Bank, shall be  conclusive absent manifest error.               (d)   As soon as practicable after any payment of Indemnified Taxes or Other Taxes  by the Borrower to a Governmental Authority, the Borrower shall deliver to the Agent the original or a  certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of  the return reporting such payment or other evidence of such payment reasonably satisfactory to the Agent.               (e)   Any  Foreign  Lender  that  is  entitled  to  an  exemption  from  or  reduction  of  withholding tax under the law of the jurisdiction in which the Borrower is located, or any treaty to which  such jurisdiction is a party, with respect to payments under this Agreement shall deliver to the Borrower  (with a copy to the Agent), at the time or times prescribed by applicable law or reasonably requested by  the Borrower, such properly completed and executed documentation prescribed by applicable law as will  permit such payments to be made without withholding or at a reduced rate.  Each Foreign Lender will, 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  Assumption  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 any Notes.               (f)   If a payment made to a Lender under this Agreement would be subject to United  States federal  withholding  tax  imposed  by  FATCA  if  such  Lender  were  to  fail  to  comply  with  the  applicable reporting requirements of FATCA, such Lender shall deliver to the Borrower and the Agent, at  the time or times prescribed by law and at such time or times reasonably requested by either the Borrower  or  the  Agent,  such  documentation  prescribed  by  applicable  law  (including  as  prescribed  by  Section  1471(b)(3)(C)(i)  of  the  Code)  and  such  additional  documentation  reasonably  requested  by  either  the  Borrower  or  the  Agent,  as  applicable,  as  may  be  necessary  for  either  the  Borrower  or  the  Agent,  as  applicable,  to  comply  with  its  obligations  under  FATCA,  to  determine  that  such  Lender  has complied  with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from  such payment.               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 Advances owing to it (other than (w) in respect of Defaulting Lenders, (x) as payment of an Advance  made by an Issuing Bank pursuant to the first sentence of Section 2.03(c), (y) as a payment of a Swing  Line Advance made by a Swing Line Bank that has not been participated to the other Lenders pursuant to  Section 2.02(b) or (z) pursuant to Section 2.11, 2.14 or 8.04) in excess of its ratable share of payments on  account of the Advances obtained by all the Lenders, such Lender shall forthwith purchase from the other  Lenders such participations in the 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 provided further that,  so  long  as  the  obligations  under  this  Agreement and any Notes shall not have been accelerated, any excess payment received by any Lender  shall be shared on a pro rata basis only with other Lenders.  The Borrower agrees that any Lender so                                         30  NYDOCS02/1188161  

 

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 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 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 Note is required or appropriate in order for such Lender to evidence (whether  for purposes of pledge, enforcement or otherwise) the Advances owing to, or to be made by, such Lender,  the  Borrower  shall  promptly  execute  and  deliver  to  such  Lender  a  Note  in  substantially  the  form  of  Exhibit A hereto, payable to the order of such Lender in a principal amount equal to the Revolving Credit  Commitment of such Lender.               (b)   The Register maintained by the Agent pursuant to Section 8.07(c) 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  Assumption Agreement and each Assignment and Assumption 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) for general corporate purposes of the Borrower and  its Subsidiaries.               SECTION  2.18.  Increase  in  the  Aggregate  Revolving  Credit  Commitments.  (a)  The  Borrower may, not more than once in any calendar year prior to the final Termination Date, by notice to  the Agent, request that the aggregate amount of the Revolving Credit Commitments be increased by an  amount  of  $10,000,000  or  an  integral  multiple  of  $1,000,000  in  excess  thereof  (each  a  “Commitment  Increase”) to be effective as of a date that is at least 90 days prior to the scheduled final Termination Date  then in effect (the “Increase Date”) as specified in the related notice to the Agent; provided, however that  (i)  in  no  event  shall  the  aggregate  amount  of  the  Revolving  Credit  Commitments  at  any  time  exceed  $700,000,000 and (ii) on the date of any request by the Borrower for a Commitment Increase and on the  related Increase Date, the applicable conditions set forth in Article III shall be satisfied.               (b)   The Agent shall promptly notify the Lenders and such other Eligible Assignees  approved by the Agent, each Issuing Bank and each Swing Line Bank as the Borrower may identify of a  request by the Borrower for a Commitment Increase, which notice shall include (i) the proposed amount                                         31  NYDOCS02/1188161  

 

of  such  requested  Commitment  Increase,  (ii)  the  proposed  Increase  Date  and  (iii)  the  date  by  which  Lenders and such Eligible Assignees wishing to participate in the Commitment Increase must commit to  an increase in the amount of their respective Commitments (the “Commitment Date”).  Each Lender that  is willing to participate in such requested Commitment Increase (each an “Increasing Lender”) and each  Eligible Assignee that is willing to participate in such requested Commitment Increase (each such Eligible  Assignee and each Eligible Assignee that agrees to an extension of the Termination Date in accordance  with Section 2.19(c), an “Assuming Lender”) shall, in its sole discretion, give written notice to the Agent  on  or  prior  to  the  Commitment  Date  of  the  amount  by  which  it  is  willing  to  participate  in  such  Commitment  Increase; provided, however,  that  the  Revolving  Credit  Commitment  of  each  such  Assuming Lender shall be in an amount of $5,000,000 or an integral multiple of $1,000,000 in excess  thereof.   If  the  Lenders  and  Assuming  Lenders  notify  the  Agent  that  they  are  willing  to  increase  the  amount  of  their  respective  Revolving  Credit  Commitments  by  an  aggregate  amount  that  exceeds  the  amount  of  the  requested  Commitment  Increase, the  requested  Commitment  Increase  shall  be  allocated  among the Lenders and Assuming Lenders willing to participate therein in such amounts as are agreed  between the Borrower and the Agent.               (c)   Promptly following each Commitment Date, the Agent shall notify the Borrower  as to the amount, if any, by which the Increasing Lenders and Assuming Lenders are willing to participate  in the requested Commitment Increase.  On each Increase Date, each Assuming Lender shall become a  Lender party to this Agreement as of such Increase Date and the Revolving Credit Commitment of each  Increasing Lender for such requested Commitment Increase shall be so increased by such amount (or by  the amount allocated to such Lender pursuant to the last sentence of Section 2.18(b)) as of such Increase  Date; provided, however,  that  the  Agent  shall  have  received  on  or  before  such  Increase  Date the  following, each dated such date:               (i)   (A) certified copies of resolutions of the Board of Directors of the Borrower or        the  Executive  Committee  of  such  Board  approving  the  Commitment  Increase  and  the        corresponding modifications to this Agreement and (B) an opinion of counsel for the Borrower        (which  may  be  in-house  counsel),  confirming  the  opinion  delivered  pursuant  to  Section        3.01(e)(iv);               (ii)  an  assumption  agreement  from  each  Assuming  Lender,  if  any,  in  form  and        substance satisfactory to the Borrower and the Agent (each an “Assumption Agreement”), duly        executed by such Assuming Lender, the Agent and the Borrower; and               (iii) confirmation  from  each  Increasing  Lender of the  increase  in  the  amount  of its        Revolving Credit Commitment in a writing satisfactory to the Borrower and the Agent.   On each Increase Date, upon fulfillment of the conditions set forth in the immediately preceding sentence  of this Section 2.18(c), the Agent shall notify the Lenders (including, without limitation, each Assuming  Lender) and the Borrower, on or before 1:00 P.M. (New York City time), by facsimile, of the occurrence  of the  Commitment Increase to be effected on such Increase Date  and shall record in the  Register the  relevant  information  with respect  to each  Increasing  Lender  and  each  Assuming  Lender  on such  date.   Each Increasing Lender and each Assuming Lender shall, as of the Increase Date, fund their respective  Ratable  Shares  of  each  Revolving  Credit  Borrowing  then  outstanding,  which  funds  the  Agent  shall  distribute  to  the  other  Lenders  to  effect  a  funding  of  each  such  Borrowing  by  each  of  the  Lenders  (including the Increasing Lenders and the Assuming Lenders) ratably in accordance with their Ratable  Shares after giving effect to the applicable Commitment Increase and, if the applicable Increase Date is  not the last day of an Interest Period, the Borrower shall be obligated to reimburse the Lenders in respect  thereof pursuant to Section 8.04(c) as if such distribution were a prepayment.                                          32  NYDOCS02/1188161  

 

            SECTION  2.19.  Extension  of  Termination  Date.   (a)  The  Borrower  may  request  an  extension of the Termination Date in effect at such time by one year from its then scheduled expiration by  giving  notice  of  such  request  (an  “Extension  Request”)  to  the  Agent.   No  more  than  two  Extension  Requests  shall be  delivered by the  Borrower.  Each such Extension Request shall indicate the date  by  which  responses  are  requested  (which  shall  not  be  less  than  ten  Business  Days  after  the  date  of  such  Extension Request).  The Agent shall promptly notify each Lender of such request, and each Lender shall  in  turn,  in  its  sole  discretion,  not  later  than  the  date  indicated  in  such  Extension  Request,  notify  the  Borrower and the Agent in writing as to whether such Lender will consent to such Extension Request.  If  any Lender shall fail to timely notify the Agent and the Borrower in writing of its consent to any such  Extension Request, such Lender shall be deemed  to be  a Non-Consenting Lender with respect to such  request.               (b)   If  all  the  Lenders  consent  in  writing  to  any  such  request  in  accordance  with  subsection (a) of this Section 2.19, the Termination Date in effect at such time shall, effective as at the  date  indicated  in  the  applicable  Extension  Request  (the  “Extension  Date”),  be  extended  for  one  year;  provided that on each Extension Date the applicable conditions set forth in Article III shall be satisfied.  If  less than all of the Lenders consent in writing to any such request in accordance with subsection (a) of  this  Section  2.19,  the  Termination  Date  in  effect  at  such  time  shall,  effective  as  at  the  applicable  Extension Date and subject to subsection (d) of this Section 2.19, be extended as to those Lenders that so  consented (each a “Consenting Lender”) but shall not be extended as to any other Lender (each a “Non- Consenting Lender”).  To the extent that the Termination Date is not extended as to any Lender pursuant  to this Section 2.19 and the Commitment(s) of such Lender is not assumed in accordance with subsection  (c) of this Section 2.19 on or prior to the applicable Extension Date, the Commitment(s) of such Non- Consenting Lender shall automatically terminate in whole on such unextended Termination Date without  any further notice or other action by the Borrower, such Lender or any other Person; provided that such  Non-Consenting  Lender’s  rights  under  Sections  2.11,  2.14  and  8.04,  and  its  obligations  under  Section  7.05, shall survive the Termination Date for such Lender as to matters occurring prior to such date.  It is  understood and agreed that no Lender shall have any obligation whatsoever to agree to any request made  by the Borrower for any requested extension of the Termination Date.               (c)   If less than all of the Lenders consent to any such request pursuant to subsection  (a) of this Section 2.19, the Borrower may arrange for one or more Consenting Lenders or other Eligible  Assignees approved by the Agent, each Issuing Bank and each Swing Line Bank as Assuming Lenders to  assume, effective as of the Extension Date, any Non-Consenting Lender’s Commitment(s) and all of the  obligations of such Non-Consenting Lender under this Agreement thereafter arising, without recourse to  or warranty by, or expense to, such Non-Consenting Lender; provided, however, that the amount of the  Revolving Credit Commitment of any such Assuming Lender as a result of such substitution shall in no  event be less than $5,000,000 unless the amount of the Commitment of such Non-Consenting Lender is  less than $5,000,000, in which case such Assuming Lender shall assume all of such lesser amount; and  provided further that:               (i)   any such Consenting Lender or Assuming Lender shall have paid to such Non-       Consenting Lender (A) the aggregate principal amount of, and any interest accrued and unpaid to        the  effective  date  of  the  assignment  on,  the  outstanding  Advances,  if  any,  of  such  Non-       Consenting Lender plus (B) any accrued but unpaid facility fees owing to such Non-Consenting        Lender as of the effective date of such assignment;               (ii)  all  additional  costs  reimbursements, expense  reimbursements  and  indemnities        payable to such Non-Consenting Lender, and all other accrued and unpaid amounts owing to such        Non-Consenting Lender hereunder, as of the effective date of such assignment shall have been        paid to such Non-Consenting Lender; and                                         33  NYDOCS02/1188161  

 

            (iii) with  respect  to  any  such  Assuming  Lender,  the  applicable  processing  and        recordation fee required under Section 8.07(b) for such assignment shall have been paid;   provided further that such Non-Consenting Lender’s rights under Sections 2.11, 2.14 and 8.04, and its  obligations under Section 7.05, shall survive such substitution as to matters occurring prior to the date of  substitution.  At least three Business Days prior to any Extension Date, (A) each such Assuming Lender,  if any, shall have delivered to the Borrower and the Agent an Assumption Agreement, duly executed by  such  Assuming  Lender,  such  Non-Consenting  Lender,  the  Borrower  and  the  Agent,  (B)  any  such  Consenting  Lender  shall  have  delivered  confirmation  in  writing  satisfactory  to  the Borrower  and  the  Agent as to the increase in the amount of its Commitment and (C) each Non-Consenting Lender being  replaced pursuant to this Section 2.19 shall have delivered to the Agent any Note or Notes held by such  Non-Consenting Lender.  Upon the payment or prepayment of all amounts referred to in clauses (i), (ii)  and (iii) of the immediately preceding sentence, each such Consenting Lender or Assuming Lender, as of  the Extension Date, will be substituted for such Non-Consenting Lender under this Agreement and shall  be a Lender for all purposes of this Agreement, without any further acknowledgment by or the consent of  the  other  Lenders,  and  the  obligations  of  each  such  Non-Consenting  Lender  hereunder  shall,  by  the  provisions hereof, be released and discharged.               (d)   If (after giving effect to any assignments or assumptions pursuant to subsection  (c)  of  this  Section  2.19)  Lenders  having  Revolving  Credit  Commitments  equal  to  at  least  50%  of  the  Revolving Credit Commitments in effect immediately prior to the Extension Date consent in writing to a  requested  extension (whether by execution or delivery of an  Assumption Agreement or otherwise) not  later than one Business Day prior to such Extension Date, the Agent shall so notify the Borrower, and,  subject to the satisfaction of the applicable conditions in Article III, the Termination Date then in effect  shall be extended for the additional one-year period as described in subsection (a) of this Section 2.19,  and  all  references  in  this  Agreement,  and  in  the  Notes, if  any,  to  the  “Termination  Date”  shall,  with  respect  to  each  Consenting  Lender  and  each  Assuming  Lender  for  such  Extension  Date,  refer  to  the  Termination Date as so extended.  Promptly following each Extension Date, the Agent shall notify the  Lenders  (including,  without  limitation,  each  Assuming  Lender)  of  the  extension  of  the  scheduled  Termination  Date  in  effect  immediately  prior  thereto  and  shall  thereupon  record  in  the  Register  the  relevant information with respect to each such Consenting Lender and each such Assuming Lender.               SECTION 2.20.  Defaulting Lender.  (a)  If a Lender becomes, and during the period it  remains, a Defaulting Lender, the following provisions shall apply:               (i)   such Defaulting Lenders’ Ratable Share of the L/C Exposure and the Swing Line        Advances will, subject to the limitation in the first proviso below, automatically be reallocated        (effective  on  the  day  such  Lender  becomes  a  Defaulting  Lender)  among  the  Non-Defaulting        Lenders pro rata in  accordance  with  their  respective  Commitments  (such  reallocation  to  be        repeated as of any date that a Lender becomes a Defaulting Lender, whether on the date that such        Lender is required to purchase its participation in any Letter of Credit or otherwise);  provided        that  (A)  the  sum  of  each  Non-Defaulting  Lender’s  aggregate  principal  amount  of  Revolving        Credit Advances, allocated share of the L/C Exposure and allocated share of the principal amount        of outstanding Swing Line Advances may not in any event exceed the Commitment of such Non-       Defaulting Lender as in effect at the time of such reallocation and (B) neither such reallocation        nor any payment by a Non-Defaulting Lender pursuant thereto will constitute a waiver or release        of  any  claim  the  Borrower,  the  Agent,  any  Issuing  Bank,  any  Swing  Line  Bank  or  any  other        Lender may have against such Defaulting Lender or cause such Defaulting Lender to be a Non-       Defaulting Lender;                                          34  NYDOCS02/1188161  

 

            (ii)  to  the  extent  that  any  portion  (the  “unreallocated  portion”)  of  the  Defaulting        Lender’s share of the L/C Exposure and Swing Line Advances cannot be so reallocated, whether        by reason of the proviso in clause (i) above or otherwise, the Borrower will, not later than three        Business Days after demand by the Agent (at the direction of an Issuing Bank and/or a Swing        Line Bank, as the case may be), (A) Cash Collateralize the obligations of the Borrower to each        Issuing  Bank  and  each  Swing  Line  Bank  in  respect  of  such  L/C  Exposure  or  Swing  Line        Advances,  as  the  case  may  be,  in  an  amount  at  least  equal  to  the  aggregate  amount  of  the        unreallocated portion of such L/C Exposure or Swing Line Advances, or (B) in the case of such        Swing Line Advances, prepay (subject to clause (iii) below) and/or Cash Collateralize in full the        unreallocated portion thereof, or (C) make other arrangements satisfactory to the Agent, and to        each  Issuing  Bank  and  each  Swing  Line  Bank,  as  the  case  may  be,  in  their  sole  discretion  to        protect  them  against  the  risk  of  non-payment  by  such  Defaulting  Lender; provided that  cash        collateral (or the appropriate portion thereof) provided in respect of the unreallocated portion of        the  L/C  Exposure  or  Swing  Line  Advances  shall  be  released  promptly  following:   (x)  the        elimination  of  the  applicable  L/C  Exposure  or  Swing  Line  Advances  giving  rise thereto        (including  by  the  termination  of  Defaulting  Lender  status  of  the  applicable  Lender)  or  (y)  the        Borrower  notifying  the  Agent  that  such  cash  collateral  exceeds  the  required  amount  of  Cash        Collateralization and the Agent’s confirmation of such excess (it being understood that only such        excess amount shall be so released); provided further that in accordance with Section 2.04, to the        extent  that  the  Borrower  has  Cash  Collateralized  the  aggregate  amount  of  the  unreallocated        portion  of  such  L/C  Exposure or  Swing  Line  Advances,  such  unreallocated  portion  shall  not        accrue any fees, commissions or interest; and               (iii) any  amount  paid  by  the  Borrower  or  otherwise  received  by  the  Agent  for  the        account of a Defaulting Lender under this Agreement (whether on account of principal, interest,        fees, indemnity  payments  or  other amounts)  will  not  be  paid  or  distributed  to such  Defaulting        Lender, but will instead be at the direction of the Borrower (A) retained by the Agent to Cash        Collateralize the obligations of the Borrower to each Issuing Bank and each Swing Line Bank in        respect  of  such  Defaulting  Lender’s  unreallocated  portion  of the  L/C  Exposure  or  Swing  Line        Advances or to fund any Advance in respect of which such Defaulting Lender has failed to fund        its portion thereof as required, or (B) retained by the Agent in a segregated non-interest bearing        account until (subject to Section 2.20(d)) the termination of the Commitments and payment in full        of all obligations of the Borrower hereunder and will be applied by the Agent, to the fullest extent        permitted by law, to the making of payments from time to time in the following order of priority:         first to the payment of any amounts owing by such Defaulting Lender to the Agent under this        Agreement, second to  the  payment  of  any  amounts  owing  by  such  Defaulting  Lender  to  an        Issuing Bank or a Swing Line Bank (pro rata as to the respective amounts owing to each of them)        under this Agreement, third to the payment of post-default interest and then current interest due        and  payable  to  the  Lenders  hereunder  other  than  Defaulting  Lenders,  ratably  among  them  in        accordance with the amounts of such interest then due and payable to them, fourth to the payment        of fees then due and payable to the Non-Defaulting Lenders hereunder, ratably among them in        accordance with the amounts of such fees then due and payable to them, fifth to pay principal        then  due  and payable  to the  Non-Defaulting Lenders  hereunder ratably in accordance with the        amounts thereof then due and payable to them, sixth to the ratable payment of other amounts then        due  and  payable  to  the  Non-Defaulting  Lenders,  and seventh after  the  termination  of  the        Commitments, the expiration, termination or cancellation of all Letters of Credit and payment in        full of all obligations of the Borrower hereunder, to pay amounts owing under this Agreement to        such Defaulting Lender or as a court of competent jurisdiction may otherwise direct.  Subject to        Section  2.04,  any  payments,  prepayments  or  other  amounts  paid  or  payable  to  a  Defaulting        Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post cash        collateral pursuant to this Section 2.20 shall be deemed paid to and redirected by such Defaulting                                         35  NYDOCS02/1188161  

 

      Lender, and each Lender irrevocably consents hereto; provided that any such amount received by        the Agent pursuant to this Section 2.20(a)(iii) shall, subject to Section 2.20(c), be released to the        applicable Defaulting Lender promptly upon such Defaulting Lender no longer being deemed to        be a Defaulting Lender.               (b)   No  Commitment  of  any  Lender  shall  be  increased  or  otherwise  affected,  and,  except  as  otherwise  expressly  provided  in  this  Section  2.20,  performance  by  the  Borrower  of  its  obligations shall not be excused or otherwise modified, as a result of the operation of this Section 2.20.   The rights and remedies against a Defaulting Lender under this Section 2.20 are in addition to any other  rights  and  remedies  which  the  Borrower,  the  Agent  or  any  Lender  may  have  against  such  Defaulting  Lender.               (c)   If the Borrower and the Agent agree in writing in their reasonable determination  that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Agent will so notify  the  parties  hereto,  whereupon  as  of  the  effective  date  specified  in  such  notice  and  subject  to  any  conditions set forth therein (which  may include arrangements  with respect to any cash  collateral), that  Lender will, to the extent applicable, purchase that portion of outstanding Advances and L/C Exposure of  the other Lenders or take such other actions as the Agent may determine to be  necessary to cause the  Advances and L/C Exposure to be held on a pro rata basis by the Lenders in accordance with their pro  rata share, whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments  will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower  while  that  Lender  was  a  Defaulting  Lender;  and provided, further,  that  except  to  the  extent  otherwise  expressly  agreed  by  the  affected  parties,  no  change hereunder  from  Defaulting  Lender  to  Lender  will  constitute a waiver or release of any claim of any party hereunder arising from such Lender’s having been  a Defaulting Lender.               (d)   The  Borrower’s  obligation  to  provide  cash  collateral  as  and  when  required  pursuant to this Section 2.20 is a required payment under this Agreement.               SECTION 2.21.  Replacement of Lenders.  If any Lender requests compensation under  Section 2.11, or if the Borrower is required to pay additional amounts to any Lender or any Governmental  Authority for the account of any Lender pursuant to Section 2.14, or if any Lender is a Defaulting Lender,  then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Agent, require  such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions  contained in, and consents required by, Section 8.07), all of its interests, rights and obligations under this  Agreement to an Eligible Assignee that shall assume such obligations (which assignee may be another  Lender, if a Lender accepts such assignment); provided that:               (a)   the Borrower shall have paid to the Agent the assignment fee (if any) specified in        Section 8.07;               (b)   such Lender shall have received payment of an amount equal to the outstanding        principal  of  its  Advances  and  participations  in  L/C  Disbursements,  accrued  interest  thereon,        accrued fees and all other amounts payable to it hereunder (including any amounts under Section        8.04(c)) from the assignee (to the extent of such outstanding principal and accrued interest and        fees) or the Borrower (in the case of all other amounts);               (c)   in the case of any such assignment resulting from a claim for compensation under        Section  2.11  or  payments  required  to  be  made  pursuant  to  Section  2.14,  such  assignment  will        result in a reduction in such compensation or payments thereafter; and                                          36  NYDOCS02/1188161  

 

            (d)   such assignment does not conflict with applicable law.               A  Lender  shall  not  be  required  to  make  any  such  assignment  or  delegation  if,  prior  thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to  require such assignment and delegation cease to apply.                                    ARTICLE III                     CONDITIONS TO EFFECTIVENESS AND LENDING               SECTION 3.01.  Conditions Precedent to Effectiveness of Section 2.01.  Section 2.01 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)   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, together with any  update supplied by the Borrower to the Lenders, 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.               (b)   The Borrower shall have notified each Lender and the Agent in writing as to the  proposed Effective Date.               (c)   The Borrower shall have paid all reasonable invoiced fees and expenses of the  Agent and the Lenders (including the fees and expenses of counsel to the Agent).               (d)   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, and                     (ii)  No event has occurred and is continuing that constitutes a Default.               (e)   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  Notes)  in  sufficient copies for each Lender:               (i)   The  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  this  Agreement  and  the  Notes,  and  of  all  documents  evidencing  other  necessary        corporate  action  and  governmental  approvals,  if  any,  with  respect  to  this  Agreement  and  the        Notes.               (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 this Agreement        and the Notes and the other documents to be delivered hereunder.                                          37  NYDOCS02/1188161  

 

            (iv)  A reasonably acceptable opinion of Peter Falconer, associate general counsel of        the  Borrower,  substantially  in  the  form  of  Exhibit D-1 hereto,  and  a  reasonably  acceptable        opinion  of  Mayer  Brown  LLP,  special  counsel  for  the  Borrower,  substantially  in  the  form  of        Exhibit D-2 hereto.               (v)   A reasonably acceptable  opinion of Shearman  & Sterling LLP, counsel for the        Agent, in form and substance satisfactory to the Agent.               (f)   The Borrower shall have terminated the commitments of the lenders and repaid  or prepaid all of the obligations (other than in respect of the outstanding Existing Letters of Credit) under,  the Five-Year  Credit  Agreement  dated as  of May  26,  2016 among  the  Borrower,  the  lenders  parties  thereto and Citibank, N.A., as administrative agent, and each of the Lenders that is a party to such credit  facility hereby waives, upon execution of this Agreement, any notice required by said Credit Agreement  relating to the termination of commitments thereunder.               SECTION  3.02.  Conditions  Precedent  to  Each  Borrowing,  Commitment  Increase,  Extension  Date  and  Issuance.  The  obligation  of  each  Lender  and  each  Swing  Line  Bank  to  make  an  Advance (other than (x) a Swing Line Advance made by a Lender pursuant to Section 2.02(b) or (y) an  Advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c)) on the occasion of each  Borrowing, each Commitment Increase, each extension of the Commitments and the obligation of each  Issuing Bank to issue a Letter of Credit shall be subject to the conditions precedent that the Effective Date  shall  have  occurred  and  on  the  date  of  such  Borrowing,  the  applicable  Increase  Date,  the  applicable  Extension  Date  or  such  issuance  the  following  statements  shall  be  true  (and  each  of the  giving  of the  applicable  Notice  of  Revolving  Credit  Borrowing,  Notice  of  Swing  Line  Borrowing,  request  for  Commitment Increase, request for Commitment extension or Notice of Issuance and the acceptance by  the Borrower of the proceeds of such Borrowing, shall constitute a representation and warranty by the  Borrower that on the date of such Borrowing, such Increase Date, such Extension Date or such issuance  such statements are true):               (a)   the  representations  and  warranties  contained  in  Section 4.01  (except  the        representations set forth in subsection (d)(ii) thereof and in subsection (f) thereof) are correct on        and as of such date, before and after giving effect to such Borrowing, such Commitment Increase,        such Commitment extension or such issuance and to the application of the proceeds therefrom, as        though made on and as of such date, except to the extent such representation or warranty related        to a specific earlier date, in which case such representation or warranty shall have been true and        correct as of such earlier date, and               (b)   no event has occurred and is continuing, or would result from such Borrowing,        such Commitment Increase, such Commitment extension or such issuance or from the application        of the proceeds therefrom, that constitutes a Default.   In  addition  to  the  other  conditions  precedent  herein  set  forth,  if  any Lender  becomes,  and  during  the  period it remains, a Defaulting Lender, no Issuing Bank will be required to issue any Letter of Credit or to  amend  any  outstanding  Letter  of  Credit  to  increase  the  face  amount  thereof,  alter  the  drawing  terms  thereunder or extend, or permit the extension of, the expiry date thereof, and no Swing Line Bank will be  required to make any Swing Line Advance, unless any Fronting Exposure that would result therefrom is  eliminated  or  fully  covered  by  the  Commitments  of  the  Non-Defaulting  Lenders  or  by  Cash  Collateralization or a combination thereof satisfactory to such Issuing Bank or Swing Line Bank.               SECTION  3.03.  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                                         38  NYDOCS02/1188161  

 

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.  The Borrower represents and warrants  as follows:               (a)   Organization;  Powers.   Each  of  the  Borrower  and  its  Subsidiaries  is  duly  organized, validly existing and in good standing under the laws of the jurisdiction of its organization, has  all requisite power and authority to carry on its business as now conducted and, except where the failure  to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse  Effect,  is  qualified  to  do  business  in,  and  is  in  good  standing  in,  every  jurisdiction  where  such  qualification is required.               (b)   Authorization;  Enforceability.   The  Transactions  are  within  the  Borrower’s  corporate powers and have been duly authorized by all necessary corporate and, if required, stockholder  action.  This Agreement has been duly executed and delivered by the Borrower and constitutes a legal,  valid  and  binding  obligation  of  the  Borrower,  enforceable  in  accordance  with  its  terms,  subject  to  applicable  bankruptcy,  insolvency,  reorganization,  moratorium  or  other  laws  affecting  creditors’  rights  generally and subject to general principles of equity, regardless of whether considered in a proceeding in  equity  or  at  law; provided that  no  representation  as  to  the  legality,  validity,  binding  obligation  or  enforceability is given as to the matters set forth in Section 8.14.               (c)   Governmental Approvals; No Conflicts.  The Transactions (i) do not require any  consent or approval of, registration or filing with, or any other action by, any Governmental Authority,  except  such  as  have  been  obtained  or  made  and  are  in  full  force  and  effect,  (ii) will  not  violate  any  applicable law or regulation or the charter, by-laws or other organizational documents of the Borrower or  any of its Subsidiaries or any order of any Governmental Authority, (iii) will not violate or result in a  default  under  any  indenture,  agreement  or  other  instrument  binding  upon  the  Borrower  or  any  of  its  Subsidiaries or its  assets, or give  rise to a right thereunder to require  any payment to be  made by the  Borrower or any of its Subsidiaries, and (iv) will not result in the creation or imposition of any Lien on  any asset of the Borrower or any of its Subsidiaries.               (d)   Financial  Condition;  No  Material  Adverse  Change.   (i)  The  Borrower  has  heretofore furnished to the Lenders its consolidated balance sheet and statements of income, stockholders  equity and cash flows (A) as of and for the fiscal year ended December 31, 2018, reported on by Ernst &  Young LLP, independent public accountants, and (B) as of and for the fiscal quarter and the portion of the  fiscal  year  ended  March  31,  2019,  certified  by  its  chief  financial  officer.   Such  financial  statements  present fairly, in all material respects, the financial position and results of operations and cash flows of  the Borrower and its consolidated Subsidiaries as of such dates and for such periods in accordance with  GAAP, consistently applied, subject to year-end  audit adjustments  and the absence of footnotes in the  case of the statements referred to in clause (B) above.                                          39  NYDOCS02/1188161  

 

            (ii)  Except for disclosures, if any, made in filings by the Borrower prior to the date        hereof pursuant to the Securities and Exchange  Act of 1934, as amended, since  December 31,        2018, there has been no material adverse change in the business, assets, operations or condition,        financial or otherwise, of the Borrower and its Subsidiaries, taken as a whole.               (e)   Properties.   (i) Each  of  the  Borrower  and  its  Subsidiaries  has  good  title  to,  or  valid leasehold interests in, all its real and personal property material to its business, except for minor  defects in title that do not interfere with its ability to conduct its business as currently conducted or to  utilize such properties for their intended purposes.                 (ii)  Each  of  the  Borrower  and  its  Subsidiaries  owns,  or  is  licensed  to  use,  all        trademarks,  trade  names,  copyrights,  patents  and  other  intellectual  property  material  to  its        business,  and  the  use  thereof  by  the  Borrower  and  its  Subsidiaries  does  not  infringe  upon  the        rights  of  any  other  Person,  except  for  any  such  infringements  that,  individually  or  in  the        aggregate, could not reasonably be expected to result in a Material Adverse Effect.               (f)   Litigation  and  Environmental  Matters.   (i) There  are  no  actions,  suits  or  proceedings by or before any arbitrator or Governmental Authority pending against or, to the knowledge  of the  Borrower, threatened against or affecting the Borrower or any of its  Subsidiaries  (A) which are  likely, individually or in the aggregate, to result in a Material Adverse Effect (other than the Disclosed  Litigation) or (B) that involve this Agreement or the Transactions.               (ii)  Except for the Disclosed Litigation and except with respect to any other matters        that, individually or in the aggregate, are not likely to result in a Material Adverse Effect, neither        the Borrower nor any of its Subsidiaries (A) has failed to comply with any Environmental Law or        to  obtain,  maintain  or  comply  with  any  permit,  license  or  other  approval  required  under  any        Environmental  Law,  (B) has  become  subject  to  any  Environmental  Liability,  (C) has  received        notice of any claim with respect to any Environmental Liability or (D) knows of any basis for any        Environmental Liability.               (iii) Since the date of this Agreement, there has been no change in the status of the        Disclosed Litigation that, individually or in the aggregate, has resulted in, or materially increased        the likelihood of, a Material Adverse Effect.               (g)   Compliance  with  Laws  and  Agreements.  Each  of  the  Borrower  and  its  Subsidiaries  is  in  compliance  with  all  laws,  regulations  and  orders  of  any  Governmental  Authority  applicable to it or its property and all indentures, agreements and other instruments binding upon it or its  property,  except  where  the  failure  to  do  so,  individually  or  in  the  aggregate,  could  not  reasonably  be  expected to result in a Material Adverse Effect.  No Default has occurred and is continuing.               (h)   Investment Company Status.  Neither the Borrower nor any of its Subsidiaries is  an “investment company” as defined in, or subject to regulation under, the Investment Company Act of  1940.               (i)   Taxes.  Each of the Borrower and its Subsidiaries has timely filed or caused to be  filed all Tax returns and reports required to have been filed and has paid or caused to be paid all Taxes  required to have been paid by it, except (i) Taxes that are being contested in good faith by appropriate  proceedings  and  for  which  the  Borrower  or  such  Subsidiary,  as  applicable,  has  set  aside  on  its  books  adequate reserves or (ii) to the extent that the failure to do so could not reasonably be expected to result in  a Material Adverse Effect.                                          40  NYDOCS02/1188161  

 

            (j)   ERISA.  No ERISA Event has occurred or is reasonably expected to occur that,  when taken together with all other such ERISA Events for which liability is reasonably expected to occur,  could reasonably be expected to result in a Material Adverse Effect.  The present value of all accumulated  benefit  obligations  under  each  Plan  (based  on  the  assumptions  used  for  purposes  of  Statement  of  Financial Accounting Standards No. 87) as of the date of the most recent financial statements reflecting  such amounts: (i) did not exceed the fair market value of the assets of such Plan by an aggregate amount  in excess  of $25,000,000 or (ii) if such  shortfall is in excess of such  amount, such shortfall could not  reasonably be expected to result in a Material Adverse Effect.               (k)   Disclosure.   None  of  the  reports,  financial  statements,  certificates  or  other  information furnished by or on behalf of the Borrower to the Agent or any Lender in connection with the  negotiation of this Agreement or delivered hereunder (as modified or supplemented by other information  so furnished) contains any material misstatement of fact or omits to state any material fact necessary to  make  the  statements  therein,  in  the  light  of  the  circumstances  under  which  they  were  made,  not  misleading; provided that, with respect to projected financial information the Borrower represents only  that such information was prepared in good faith based upon assumptions believed to be reasonable at the  time.               (l)   Margin Stock.  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, as in effect from time to time), and no proceeds of  any Advance or Letter of Credit 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.               (m)   Anti-Corruption  Laws  and  Sanctions.  The  Borrower  has  implemented  and  maintains in effect policies and procedures reasonably designed to promote compliance by the Borrower,  its Subsidiaries and (when acting in their respective capacities as such) their respective directors, officers,  employees and agents with Anti-Corruption Laws and applicable Sanctions and, to the knowledge of the  Borrower, the Borrower and its Subsidiaries are in compliance with Anti-Corruption Laws and applicable  Sanctions  in all  material  respects.   None  of  the  Borrower,  any  Subsidiary  or  any  of  their  respective  directors or officers, or, to the knowledge of the Borrower, any of their respective employees or any agent  of the Borrower or any Subsidiary that will act in any capacity in connection with or benefit from the  credit facility established hereby, is, or is controlled by, a Sanctioned Person.                                     ARTICLE V                                                                            COVENANTS               SECTION 5.01.  Affirmative Covenants.  Until the Commitments and Letters of Credit  have expired or been terminated and the principal of and interest on each Advance and all fees payable  hereunder shall have been paid in full, the Borrower covenants and agrees with the Lenders that:               (a)   Financial Statements and Other Information.  The Borrower will furnish to the  Agent (which shall promptly furnish to each of the Lenders):               (i)   within  105  days  after  the  end  of  each  fiscal  year  of  the  Borrower,  its  audited        consolidated  balance  sheet  and  related statements  of  operations,  stockholders’ equity  and  cash        flows as of the end of and for such year, setting forth in each case in comparative form the figures        for the previous fiscal year, all reported on by Ernst & Young LLP or other independent public        accountants of recognized national standing (without a going “concern” or like qualification or        exception and without any qualification or material exception as to the scope of such audit) to the                                         41  NYDOCS02/1188161  

 

      effect  that  such  consolidated  financial  statements  present  fairly  in  all  material  respects  the        financial condition and results of operations of the Borrower and its consolidated Subsidiaries on        a  consolidated  basis  in  accordance  with  GAAP  consistently  applied  (the  furnishing  of  the        Borrower’s Form 10-K will satisfy the requirements of this Section 5.01(a)(i));               (ii)  within 55 days after the end of each of the first three fiscal quarters of each fiscal        year  of  the  Borrower,  its  consolidated  balance  sheet  and  related  statements  of  operations,        stockholders’  equity  and  cash flows  as  of  the  end  of  and  for  such  fiscal  quarter  and  the  then        elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for        the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the        previous  fiscal  year,  all  certified  by  one  of  its  Financial  Officers  as  presenting  fairly  in  all        material  respects  the  financial  condition  and  results  of  operations  of  the  Borrower  and  its        consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied,        subject to normal year-end audit adjustments and the absence of footnotes (the furnishing of the        Borrower’s Form 10-Q will satisfy the requirements of this Section 5.01(a)(ii));               (iii) concurrently  with  any  delivery  of  financial  statements  under  clause (i)  or  (ii)        above, a certificate of a Financial Officer of the Borrower (A) certifying as to whether a Default        has occurred since the delivery of the previous such certificate, or, with respect to the first such        certificate, the date hereof and, if such Default has occurred, specifying the details thereof and        any action taken or proposed to be taken with respect thereto, (B) setting forth reasonably detailed        calculations  demonstrating  compliance  with  Sections 5.02(a)  and  5.03  and  (C) stating  whether        any  change  in  GAAP  or  in  the  application  thereof  has  occurred  since  the  date  of  the  audited        financial  statements  referred  to  in  Section 4.01(d)  and,  if  any  such  change  has  occurred,        specifying the effect of such change on the financial statements accompanying such certificate;               (iv)  concurrently with any delivery of financial statements under clause (i) above, a        certificate of the accounting firm that reported on such financial statements stating whether they        obtained knowledge during the course of their examination of such financial statements of any        Default  (which  certificate  may  be  limited  to  the  extent  required  by  accounting  rules  or        guidelines);               (v)   promptly  after  the  same  become  publicly  available,  copies  of  all  periodic  and        other  reports,  proxy  statements  and  other  material  information  filed  by  the  Borrower  or  any        Subsidiary,  with  the  Securities  and  Exchange  Commission,  or  any  Governmental  Authority        succeeding  to  any  or  all  of  the  functions  of  said  Commission,  or  with  any  national  securities        exchange, as the case may be; and               (vi)  promptly  following  any  request  therefor,  such  other  information  regarding  the        operations,  business  affairs  and  financial  condition  of  the  Borrower  or  any  Subsidiary,  or        compliance  with  the  terms  of  this Agreement,  as  the  Agent  or  any  Lender  may  reasonably        request, including, without limitation, information or certifications as may be required under the        Beneficial Ownership Regulation, if applicable.         The Borrower shall be deemed to have delivered the financial statements and other information  referred  to in subclauses  (i), (ii) and (v) of this  Section 5.01(a), when  such filings,  financials  or other  information  have  been  posted  on  the  Internet  website  of  the  Securities  and  Exchange  Commission  (http://www.sec.gov) or on the Borrower’s own internet website as previously identified to the Agent and  Lenders.  If the Agent or a Lender requests such filings, financial statements or other information to be  delivered to it in hard copies, the Borrower shall furnish to the Agent or such Lender, as applicable, such  statements accordingly, provided that no such request shall affect that such filings, financial statements or                                         42  NYDOCS02/1188161  

 

other  information  have  been  deemed  to  have  been  delivered  in  accordance  with  the  terms  of  the  immediately preceding sentence.               (b)   Notices of Material Events.  The Borrower will furnish to the Agent (which shall  promptly furnish to each of the Lenders) prompt written notice of the following:               (i)   the occurrence of any Default;               (ii)  the filing or commencement of any action, suit or proceeding by or before any        arbitrator or Governmental Authority against or affecting the Borrower or any Affiliate thereof        that is likely to result in a Material Adverse Effect; and               (iii) any other development that results in a Material Adverse Effect.   Each notice delivered under this Section shall be accompanied by a statement of a Financial Officer or  other executive  officer of the  Borrower setting forth the  details  of the  event or development requiring  such notice and any action taken or proposed to be taken with respect thereto.               (c)   Existence; Conduct of Business.  The Borrower will, and will cause each of its  Subsidiaries to, do or cause to be done all things necessary to preserve, renew and keep in full force and  effect its legal existence and the rights, licenses, permits, privileges and franchises material to the conduct  of its business; provided that (x) the foregoing shall not prohibit any merger, consolidation, liquidation or  dissolution permitted under Section 5.02(b), (y) any Subsidiary of the Borrower may liquidate or dissolve  and  (z)  the  foregoing  shall  not  prohibit  any  transaction  between  or  among  the  Borrower  and  its   Subsidiaries.               (d)   Payment  of  Obligations.   The  Borrower  will,  and  will  cause  each  of  its  Subsidiaries to, pay its obligations, including Tax liabilities, that, if not paid, could result in a Material  Adverse Effect before  the same  shall become  delinquent or in default, except where (i) the  validity or  amount  thereof  is  being  contested  in  good  faith  by appropriate  proceedings,  (ii) the  Borrower  or  such  Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP and  (iii) the  failure to make  payment pending such contest could not reasonably be expected  to result in a  Material Adverse Effect.               (e)   Maintenance of Properties; Insurance.  The Borrower will, and will cause each of  its  Subsidiaries  to,  (i) keep  and  maintain  all  property  material  to  the  conduct  of  its  business  in  good  working order and condition, ordinary wear and tear excepted, and (ii) maintain, with financially sound  and reputable insurance companies, insurance in such amounts and against such risks as are customarily  maintained  by  companies  engaged  in  the  same  or  similar  businesses  operating  in  the  same or  similar  locations,  in  each  case,  except  to  the  extent  that  the  failure  to  maintain  any  such  insurance  could  not  reasonably be expected to result in a Material Adverse Effect.               (f)   Books and Records; Inspection Rights.  The Borrower will, and will cause each  of its Subsidiaries to, keep proper books of record and account in which full, true and correct entries are  made of all dealings and transactions in relation to its business and activities.  The Borrower will, and will  cause each of its Subsidiaries to, permit any representatives designated by the Agent or any Lender, upon  reasonable prior notice and (unless an Event of Default has occurred and is continuing, at the expense of  the Agent or such Lender, as the case may be), to visit and inspect its properties, to examine and make  extracts from its books and records, and to discuss its affairs, finances and condition with its officers and  independent accountants, all at such reasonable times and as often as reasonably requested.                                          43  NYDOCS02/1188161  

 

            (g)   Compliance  with  Laws, Etc.   The  Borrower  will,  and  will  cause  each  of  its  Subsidiaries  to,  comply  with  all  laws,  rules,  regulations  and  orders  of  any  Governmental  Authority  applicable to it or its property, except where the failure to do so, individually or in the aggregate, could  not reasonably be expected to result in a Material Adverse Effect.  The Borrower will maintain in effect  policies and procedures reasonably designed to promote compliance by the Borrower, its Subsidiaries and  (when  acting  in  their  respective  capacities as  such) their  respective  directors,  officers,  employees  and  agents with  Anti-Corruption Laws and applicable Sanctions.               (h)   Use of Proceeds.  The proceeds of the Advances will be used only for general  corporate purposes of the Borrower and its Subsidiaries in the ordinary course of business.  No part of the  proceeds  of  any  Advance  will  be  used,  whether  directly  or  indirectly,  for  any  purpose  that  entails  a  violation of any of the regulations of the Federal Reserve Board, including Regulation U and Regulation  X, as in effect from time to time.               SECTION 5.02.  Negative Covenants.  Until the Commitments and Letters of Credit have  expired or terminated and the principal of and interest on each Advance and all fees payable hereunder  have been paid in full the Borrower covenants and agrees with the Lenders that:               (a)   Negative Pledge.  The Borrower will not, nor will it permit any of its Subsidiaries  to, create, incur, assume or suffer to exist any Lien in, of or on any property of the Borrower or any of its  Subsidiaries, whether now owned or hereafter acquired, except:               (i)   Liens created for the benefit of the Lenders;               (ii)  Liens existing on the date of this Agreement;               (iii) Permitted Encumbrances;               (iv)  Liens  on  property (A)  of a  Subsidiary  to  secure  only  obligations  owing  to  the        Borrower or another such Subsidiary or (B) of any Person which becomes a Subsidiary after the        date of this Agreement, provided that such Liens in this clause (B) are in existence at the time        such Person becomes a Subsidiary and were not created in anticipation thereof;               (v)   Liens upon real and/or tangible personal property acquired after the date hereof        (by purchase, construction or otherwise) by the Borrower or any of its Subsidiaries, each of which        Liens either (A) existed on such property before the time of its acquisition and was not created in        anticipation  thereof,  or  (B) was  created  solely  for  the  purpose  of  securing  Indebtedness        representing,  or  incurred  to  finance,  refinance  or  refund,  the  cost  (including  the  cost  of        construction) of such property; provided that no such Lien shall extend to or cover any property        of  the  Borrower  or  such  Subsidiary  other  than  the  property  so  acquired  and  improvements        thereon; provided, further, that the principal amount of Indebtedness secured by any such Lien        shall at no time exceed the fair market value (as determined in good faith by a senior financial        officer of the Borrower) of such property at the time such Lien is created; and provided finally,        that such Lien attaches to such asset concurrently with or within 18 months of acquisition thereof;               (vi)  Liens on assets related to railcar operating leases (including, but not limited to,        car  service  contracts  and  cash  collateral  accounts  funded  with  revenues  under such  leases)        securing obligations of the Borrower or any Subsidiary under such lease;               (vii) attachment,  judgment  and  other  similar  Liens  arising  in  connection  with  court        proceedings, provided that (A) the execution or other enforcement of such Liens in an aggregate                                          44  NYDOCS02/1188161  

 

      amount exceeding $50,000,000 is effectively stayed and (B) the claims secured thereby are being        actively contested in good faith and by appropriate proceedings;               (viii) Liens securing Secured Nonrecourse Obligations;               (ix)  in addition to the Liens permitted in the foregoing clauses (i) through (viii) of this        Section 5.02(a), Liens incurred in the ordinary course of business of the Borrower and any of its        Subsidiaries, provided that the aggregate amount of Indebtedness secured by Liens pursuant to        this clause (ix) shall not at any time exceed $250,000;               (x)   any  extension,  renewal  or  replacement,  or  the  combination  of,  the  foregoing,        provided, however, that the Liens permitted hereunder shall not be spread to cover any additional        Indebtedness or property (other than a substitution of like property); and               (xi)  additional Liens upon real and/or personal property of the Borrower or any of its        Subsidiaries created after the date hereof so long as Unsecured Debt (as defined below) shall not,        at any time, exceed Eligible Assets (as defined below).                For the purposes of Section 5.02(a)(xi):               “Eligible Assets” means the difference, as at any date of determination, of the following        (each  of  the  following  items  being the  consolidated  amounts as  reflected  in  the  Borrower’s        balance sheet (and/or notes thereto) delivered in accordance with Section 5.01(a)(i) or (ii) hereof):        (A) the sum of (i) cash plus (ii) available for sale securities plus (iii) direct financing leases plus        (iv) loans plus (v) operating lease assets, facilities and other– net (including progress payments        related thereto) plus (vi) 50% of investment in joint ventures plus (vii) assets held (or contracted        to be acquired) for sale and lease plus (viii) investment in future residuals plus (ix) right of use        assets minus (B) encumbered assets.               “Unsecured Debt” means the sum, as at any date of determination, of the following (each        of  the  following  items  being the  consolidated  amounts as  reflected  in  the  Borrower’s  balance        sheet (and/or notes thereto) delivered in accordance with Section 5.01(a)(i) or (ii) hereof):  (i)        commercial paper and bankers acceptances plus (ii) notes payable (including without limitation,        any indebtedness payable in respect of borrowings under existing unsecured credit facilities) plus        (iii) Capital Lease Obligations plus (iv) senior term notes, so long as, in each case, such item is        unsecured.               (b)   Fundamental Changes.  (i) The Borrower will not merge into or consolidate with  any other Person, or permit any other Person to merge into or consolidate with it, or sell, transfer, lease or  otherwise dispose of (in one transaction or in a series of transactions) all or substantially all of its assets  (whether now owned or hereafter acquired), or liquidate or dissolve, except that, if at the time thereof and  immediately after giving effect thereto no Default shall have occurred and be continuing, any Person may  merge into the Borrower in a transaction in which the Borrower is the surviving corporation.               (ii)  The Borrower will not, and will not permit any of its Subsidiaries to, engage to        any material extent in any business other than businesses of the type conducted by the Borrower        and  its  Subsidiaries  on  the  date  of  this  Agreement,  and  businesses  reasonably  related  thereto,        including,  without  limitation,  the  business  of  leasing,  investing  in,  operating,  financing  and        selling transportation, industrial and commercial equipment and commercial and other real estate        investment property and companies and activities related thereto.                                          45  NYDOCS02/1188161  

 

Notwithstanding  the  foregoing,  Subsidiaries  of  the  Borrower  are  permitted  to  transfer  their  respective  property or assets to other Subsidiaries of the Borrower, so long as such property or assets remain under  the ultimate ownership and control of the Borrower and do not adversely impact the consolidated balance  sheet of the Borrower in a material manner.               (c)   Transactions with Affiliates.  The Borrower will not, and will not permit any of  its  Subsidiaries  to,  sell,  lease  or  otherwise  transfer  any  property  or  assets  to,  or  purchase,  lease  or  otherwise acquire any property or assets from, or otherwise engage in any other transactions with, any of  its Affiliates, except (i) at prices and on terms and conditions not less favorable to the Borrower or such  Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties, (ii) transactions  between  or  among  the  Borrower  and  its  Subsidiaries  not  involving  any  other  Affiliate  and  (iii)  any  transaction permitted by Section 5.02(b); provided that the foregoing provisions of this Section 5.02(c)  shall not prohibit any such Person from declaring or paying any lawful dividend so long as, after giving  effect thereto, no Default shall have occurred and be continuing.               (d)   Fiscal Year.  The Borrower will not permit its fiscal year to end on other than  December 31 and  for each of its  fiscal quarters  to end on other than  the last day of standard calendar  quarters.               (e)   Use of Proceeds.  Neither the Borrower nor any of its Subsidiaries shall use the  proceeds of any Borrowing or Letter of Credit in furtherance of an offer, payment, promise to pay, or  authorization of the payment or giving of money, or anything else of value, to any Person in violation of  any Anti-Corruption Laws.  Neither the Borrower nor any of its Subsidiaries shall use the proceeds of any  Borrowing or Letter of Credit for the purpose of financing any activities, business or transaction of or  with any Sanctioned Person or a Person known by the Borrower to be controlled by a Sanctioned Person,  or in any Sanctioned Country, except where such activities, business or transaction could be conducted  legally by a U.S. Person.               SECTION 5.03.  Financial Covenant.  Until the Commitments and Letters of Credit have  expired or terminated and the principal and interest on each Advance and all fees payable hereunder have  been paid in full the Borrower covenants and agrees with the Lenders that the Borrower will not permit its  Fixed Charge Coverage Ratio, as at any fiscal quarter end, to be less than 1.20 to 1.         For the purposes of this Section 5.03,               “Cash  Flow”  means,  for  any  period,  the  sum,  for  the  Borrower  and  its  consolidated        Subsidiaries, of the following: (i) net income, (ii) income taxes, (iii)  non-cash provisions for, or        actual write-offs or impairments of, assets (without duplication in respect of any prior period) and        (iv) Fixed Charges.                “Fixed Charge  Coverage Ratio”  means,  for any day, the ratio of (i) Cash  Flow for the        period of four consecutive fiscal quarters of the Borrower ending on or most recently ended prior        to such day to (ii) Fixed Charges for such period.               “Fixed  Charges”  means  the  sum,  for  any  period  for the  Borrower  and  its  consolidated        Subsidiaries,  of  the  following:   (i) Interest  Expense  plus  (ii) an  estimate  of  that portion  of        minimum rents under operating leases representing the interest factor.               “Interest Expense” means, for any period, the sum, for the Borrower and its consolidated        Subsidiaries, of the following:  (i) all interest in respect of Indebtedness (including the interest        component  of  any  payments  in  respect  of  Capital  Lease  Obligations)  accrued  or  capitalized                                         46  NYDOCS02/1188161  

 

      during  such  period  (whether  or  not  actually  paid  during  such  period)  plus  (ii) the  net  amount        payable  (or minus the  net  amount  receivable)  under  Hedging  Agreements  relating  to  interest        during such period (whether or not actually paid or received during such period).                                    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:               (a)   the Borrower shall fail to pay any principal of or interest on any Advance or any  fee  or  any  other  amount  payable  under  this  Agreement  when  and  as  the  same  shall  become due  and  payable, and such failure shall continue unremedied for a period of two Business Days;               (b)   any representation or warranty made or deemed made by the Borrower (i) in this  Agreement or any amendment or modification hereof or (ii) in any report, certificate, financial statement  or  other  document  furnished  pursuant  to  or  in  connection  with  this  Agreement  or  any  amendment  or  modification thereof, shall prove to have been incorrect in any material respect when made or deemed  made;               (c)   the  Borrower  shall  fail  to  observe  or  perform  any  covenant,  condition  or  agreement  contained  in  Section 5.01(b),  (c)  (with  respect  to  the  Borrower’s  existence)  or  (h)  or  in  Sections 5.02 or 5.03;               (d)   the  Borrower  shall  fail  to  observe  or  perform  any  covenant,  condition  or  agreement  contained  in  this  Agreement  (other  than  those  specified  in  clause (a)  or  (c)  of  this  Section  6.01), and such failure shall continue unremedied for a period of 30 days after notice thereof from the  Agent (given at the request of any Lender) to the Borrower;               (e)   the  Borrower  or  any  Subsidiary  shall  fail  to  make  any  payment  (whether  of  principal or interest and regardless of amount) in respect of any Material Indebtedness, when and as the  same shall become due and payable and after any applicable grace and/or notice period;               (f)   any event or condition occurs that results in any Material Indebtedness becoming  due prior to its scheduled maturity or that enables or permits (after giving effect to any applicable grace  period and/or notice period) the holder or holders of any Material Indebtedness or any trustee or agent on  its  or  their  behalf  to  cause  any  Material  Indebtedness  to  become  due,  or  to  require  the  prepayment,  repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided that this clause (f)  shall not apply to secured Indebtedness that becomes due as a result of (i) the voluntary sale or transfer of  the  property  or  assets  securing  such  Indebtedness  or  (ii)  the  receipt  of  proceeds  of  a  casualty  loss  or  condemnation;               (g)   an involuntary proceeding shall be commenced or an involuntary petition shall be  filed  seeking  (i) liquidation,  reorganization  or  other  relief  in  respect  of  the  Borrower  or  any  Material  Subsidiary (other than a Single Transaction Subsidiary) or its debts, or of a substantial part of its assets,  under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in  effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official  for the Borrower or any Material Subsidiary or for a substantial part of its assets, and, in any such case,  such proceeding or petition shall continue undismissed  for 60 days  or an order or decree  approving or  ordering any of the foregoing shall be entered;                                         47  NYDOCS02/1188161  

 

            (h)   the  Borrower  or  any  Material  Subsidiary  (other  than  a  Single  Transaction  Subsidiary)  shall  (i) voluntarily  commence  any  proceeding  or  file  any  petition  seeking  liquidation,  reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or  similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and  appropriate manner, any proceeding or petition described in clause (g) of this Section 6.01, (iii) apply for  or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official  for  the  Borrower  or  any  Material  Subsidiary  or  for  a  substantial  part  of  its  assets,  (iv) file  an  answer  admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general  assignment  for  the  benefit  of  creditors  or  (vi) take  any  action  for  the  purpose  of  effecting  any  of  the  foregoing;               (i)   the  Borrower  or  any  Material  Subsidiary  (other  than  a  Single  Transaction  Subsidiary) shall become unable, admit in writing or fail generally to pay its debts (other than Secured  Nonrecourse Obligations) as they become due;               (j)   one  or  more  judgments  for  the  payment  of  money  (other  than  in  respect  of  Secured  Nonrecourse  Obligations) in  an  aggregate  amount  in  excess  of  $50,000,000  shall  be  rendered  against  the  Borrower  or  any  Material  Subsidiary  (other  than  a  Single  Transaction  Subsidiary)  or  any  combination thereof and the same shall remain undischarged for a period of 30 consecutive days during  which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor  to attach or levy upon any assets of the Borrower or any such Material Subsidiary to enforce any such  judgment;               (k)   an ERISA Event shall have occurred that, in the opinion of the Required Lenders,  when taken together with all other ERISA Events that have occurred, could reasonably be expected to  result in a Material Adverse Effect; or                (l)   a Change in Control shall occur;    then, and in every such event (other than an event with respect to the Borrower described in clause (g) or  (h) of this Section), and at any time thereafter during the continuance of such event, the Agent may, and at  the request of the Required Lenders shall, by notice to the Borrower, take either or both of the following  actions, at the same or different times:  (i) terminate the Commitments (other than the Commitments to  make  Advances  by  an  Issuing  Bank  or  a  Lender  pursuant  to  Section  2.03(c)),  and  thereupon  such  Commitments shall terminate immediately, and (ii) declare the Advances then outstanding to be due and  payable  in  whole  (or  in  part, in  which  case  any  principal  not  so  declared  to be  due  and  payable  may  thereafter be declared to be due and payable), and thereupon the principal of the Advances so declared to  be  due  and  payable,  together  with  accrued  interest  thereon  and  all  fees  and  other  obligations  of  the  Borrower accrued hereunder, shall become due and payable immediately, without presentment, demand,  protest or other notice of any kind, all of which are hereby waived by the Borrower; and in case of any  event with respect to the Borrower described in clause (g) or (h) of this Article, the Commitments (other  than the Commitments to make Advances by an Issuing Bank or a Lender pursuant to Section 2.03(c))  shall automatically terminate and the principal of the Advances then outstanding, together with accrued  interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall automatically  become due and payable, without presentment, demand, protest or other notice of any kind, all of which  are hereby waived by the Borrower.               SECTION 6.02.  Actions in Respect of the Letters of Credit upon Default.  If any Event  of Default shall have occurred and be continuing, the Agent may with the consent, or shall at the request,  of the Required Lenders, irrespective of whether it is taking any of the actions described in Section 6.01  or otherwise, make demand upon the Borrower to, and forthwith upon such demand the Borrower will, (a)                                         48  NYDOCS02/1188161  

 

pay to the Agent on behalf of the Lenders in same day funds at the Agent’s office designated in such  demand,  for  deposit  in  the  L/C  Cash  Collateral  Account,  an  amount  equal  to  the  aggregate  Available  Amount of all Letters of Credit then outstanding or (b) make such other arrangements in respect of the  outstanding Letters of Credit as shall be acceptable to the Lenders having at least 51% of the Revolving  Credit Commitments.  If at any time the Agent determines that any funds held in the L/C Cash Collateral  Account are subject to any right or claim of any Person other than the Agent and the Lenders or that the  total  amount  of  such  funds  is  less  than the  aggregate  Available  Amount  of  all  Letters  of  Credit,  the  Borrower will, forthwith upon demand by the Agent, pay to the Agent, as additional funds to be deposited  and  held  in  the  L/C  Cash  Collateral  Account,  an  amount  equal  to  the  excess  of  (a)  such  aggregate  Available Amount over (b) the total amount of funds, if any, then held in the L/C Cash Collateral Account  that the Agent determines to be free and clear of any such right and claim.  Upon the drawing of any  Letter of Credit, to the extent funds are on deposit in the L/C Cash Collateral Account, such funds shall be  applied to reimburse the Issuing Banks to the extent permitted by applicable law.  After (i) no Event of  Default shall be continuing or (ii) all such Letters of Credit shall have expired or been fully drawn upon  and all other obligations of the Borrower hereunder and under the Notes shall have been paid in full, the  balance, if any, in such L/C Cash Collateral Account shall be returned to the Borrower.                                    ARTICLE VII                                    THE AGENT               SECTION 7.01.  Appointment and Authority.  Each of the Lenders and the Issuing Banks  hereby irrevocably appoints Citibank to act on its behalf as the Agent hereunder and under the Notes and  authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the  Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental  thereto.  The provisions of this Article are solely for the benefit of the Agent, the Lenders and the Issuing  Banks,  and,  except  as  provided  in  Section  7.07,  the  Borrower  shall  not  have  rights  as  a  third-party  beneficiary of any of such provisions.  It is understood and agreed that the use of the term “agent” herein  or in any Notes (or any other similar term) with reference to the Agent is not intended to connote any  fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law.   Instead  such  term  is  used  as  a matter  of  market  custom,  and  is  intended  to  create  or  reflect  only  an  administrative relationship between contracting parties.                 SECTION 7.02.  Rights as a Lender.  The Person serving as the Agent hereunder shall  have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the  same  as  though  it  were  not  the  Agent,  and  the  term  “Lender”  or  “Lenders”  shall,  unless  otherwise  expressly  indicated  or  unless  the  context  otherwise  requires,  include  the  Person  serving  as  the  Agent  hereunder in its individual capacity.  Such Person and its Affiliates may accept deposits from, lend money  to,  own  securities  of,  act  as  the  financial  advisor  or  in  any  other  advisory  capacity  for,  and  generally  engage in any kind of business with, the Borrower or any Subsidiary or other Affiliate thereof as if such  Person were not the Agent hereunder and without any duty to account therefor to the Lenders.               SECTION  7.03.  Exculpatory  Provisions.  (a)  The  Agent  shall  not  have  any  duties  or  obligations  except  those  expressly  set  forth  herein,  and  its  duties  hereunder  shall  be  administrative  in  nature.  Without limiting the generality of the foregoing, the Agent:               (i)   shall not be subject to any fiduciary or other implied duties, regardless of whether        a Default has occurred and is continuing;               (ii)  shall  not  have  any  duty  to  take  any  discretionary  action  or  exercise  any        discretionary powers, except discretionary rights and powers expressly contemplated hereby that                                         49  NYDOCS02/1188161  

 

      the Agent is required to exercise as directed in writing by the Required Lenders (or such other        number or percentage of the Lenders as shall be expressly provided for herein); provided that the        Agent shall not be required to take any action that, in its opinion or the opinion of its counsel,        may  expose  the  Agent  to  liability  or  that  is  contrary  to  this  Agreement  or  applicable  law,        including for the avoidance of doubt any action that may be in violation of the automatic stay        under any debtor relief law or that may effect a forfeiture, modification or termination of property        of a Defaulting Lender in violation of any debtor relief law; and               (iii) shall not, except as expressly set forth herein, have any duty to disclose, and shall        not be liable  for the failure  to disclose,  any information relating to the  Borrower or any of its        Affiliates that is communicated to or obtained by the Person serving as the Agent or any of its        Affiliates in any capacity.               (b)   The Agent shall not be liable for any action taken or not taken by it (i) with the  consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as  shall be necessary, or as the Agent shall believe in good faith shall be necessary, under the circumstances  as  provided  in  Sections  8.01  and  6.01),  or  (ii)  in  the  absence  of  its  own  gross  negligence  or  willful  misconduct.  The Agent shall be deemed not to have knowledge of any Default unless and until notice  describing such Default is given to the Agent in writing by the Borrower, a Lender or an Issuing Bank.               (c)   The Agent shall not be responsible for or have any duty to ascertain or inquire  into (i) any statement, warranty or representation made in or in connection with this Agreement, (ii) the  contents of any certificate, report or other document delivered hereunder or thereunder or in connection  herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other  terms  or  conditions  set  forth  herein or  therein  or  the  occurrence  of  any  Default,  (iv)  the  validity,  enforceability,  effectiveness  or  genuineness  of  this  Agreement  or  any  other  agreement,  instrument  or  document, or (v) the satisfaction of any condition set forth in Article III or elsewhere herein, other than to  confirm receipt of items expressly required to be delivered to the Agent.               SECTION 7.04.  Reliance by Agent.  The Agent shall be entitled to rely upon, and shall  not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument,  document or other writing (including any electronic message, Internet or intranet website posting or other  distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the  proper  Person.   The  Agent  also  may  rely  upon  any  statement  made  to  it  orally  or  by  telephone  and  believed  by  it  to  have  been  made  by  the  proper  Person,  and  shall  not  incur  any  liability  for  relying  thereon.  In determining compliance with any condition hereunder to the making of an Advance, or the  issuance, extension, renewal or increase of a Letter of Credit, that by its terms must be fulfilled to the  satisfaction of a Lender or an Issuing Bank, the Agent may presume that such condition is satisfactory to  such Lender or Issuing Bank unless the Agent shall have received notice to the contrary from such Lender  or Issuing Bank prior to the making of such Advance or the issuance, extension, renewal or increase of  such Letter of Credit.  The Agent may consult with legal counsel (who may be counsel for the Borrower),  independent accountants and other experts selected by it, and shall not be liable for any action taken or  not taken by it in accordance with the advice of any such counsel, accountants or experts.                 SECTION 7.05.  Indemnification.  (a)  The Lenders agree to indemnify the Agent (to the  extent not reimbursed by the  Borrower) from and  against such  Lender’s  pro rata  share (determined  as  provided  below)  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                                         50  NYDOCS02/1188161  

 

Agent’s gross negligence or willful misconduct.  Without limitation of the foregoing, each Lender agrees  to  reimburse  the  Agent  promptly  upon  demand  for  its  pro  rata  share  of  any  out-of-pocket  expenses  (including 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(a) applies  whether any such investigation, litigation or proceeding is brought by the Agent, any Lender or a third  party.  For purposes of this Section 7.05(a), the Lenders’ respective pro rata shares of any amount shall be  determined,  at  any  time,  according  to  the  sum  of  (i) the  aggregate  principal  amount  of  the Revolving  Credit Advances outstanding at such time and owing to the respective Lenders, (ii) their respective pro  rata  Shares  of  the  aggregate  Available  Amount  of  all  Letters  of  Credit  outstanding  at  such  time  and  (iii) their respective Unused Revolving Credit Commitments at such time.               (b)   Each Lender severally agrees to indemnify the Issuing Banks (to the extent not  promptly  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  any such Issuing Bank in  any way relating to or arising out of this  Agreement or any action taken or  omitted by such Issuing Bank hereunder or in connection herewith; provided, however, that no Lender  shall  be  liable  for  any  portion  of  such  liabilities,  obligations,  losses,  damages,  penalties,  actions,  judgments, suits, costs, expenses or disbursements resulting from such Issuing Bank’s gross negligence or  willful  misconduct.   Without  limitation  of  the  foregoing,  each  Lender  agrees  to  reimburse  any  such  Issuing Bank promptly upon demand for its Ratable Share of any costs and expenses (including, without  limitation, fees and expenses of counsel) payable by the Borrower under Section 8.04, to the extent that  such Issuing Bank is not promptly reimbursed for such costs and expenses by the Borrower.               (c)   The failure of any Lender to reimburse the Agent or the Issuing Bank promptly  upon demand for its ratable share of any amount required to be paid by the Lenders to the Agent or the  Issuing  Bank   as  provided  herein  shall  not  relieve  any  other  Lender  of  its  obligation  hereunder  to  reimburse  the  Agent  or  the  Issuing  Bank  for  its  ratable  share  of  such  amount,  but  no  Lender shall be  responsible for the failure of any other Lender to reimburse the Agent or an Issuing Bank for such other  Lender’s Ratable Share of such amount.  Without prejudice to the survival of any other agreement of any  Lender  hereunder,  the  agreement  and  obligations  of  each  Lender  contained  in  this  Section  7.05  shall  survive the payment in full of principal, interest and all other amounts payable hereunder and under the  Notes.               SECTION 7.06.  Delegation of Duties.  The Agent may perform any and all of its duties  and  exercise  its  rights  and  powers  hereunder  or  under  any  Notes  by  or  through  any  one  or  more  sub-agents appointed by the Agent and consented to in writing by the Borrower (such consent not to be  required if an Event of Default has occurred and is continuing at the time of such appointment).  The  Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by  or through their respective Related Parties.  The exculpatory provisions of this Article shall apply to any  such sub-agent and to the Related Parties of the Agent and any such sub-agent, and shall apply to their  respective activities in connection with the syndication of the Facilities as well as activities as Agent.  The  Agent shall not be  responsible  for the  negligence  or misconduct of any sub-agents  appointed  with the  consent of the Borrower.                 SECTION 7.07.  Resignation of Agent.  (a) The Agent may at any time give notice of its  resignation  to  the  Lenders,  the  Issuing  Banks  and  the  Borrower.   Upon  receipt  of  any  such  notice  of  resignation, the Required Lenders shall have the right, with the consent of the Borrower (such consent not                                         51  NYDOCS02/1188161  

 

to be required if an Event of Default has occurred and is continuing at the time of such resignation – in  which  event  the  Required  Lenders’  decision  shall  be  in  consultation  with  the  Borrower),  to  appoint  a  successor, which shall be a bank with an office in New York, New York, or an Affiliate of any such bank  with  an  office  in  New  York,  New  York.   If  no  such  successor  shall  have  been  so  appointed  by  the  Required Lenders and shall have accepted such appointment within 30 days after the retiring Agent gives  notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (the “Resignation  Effective Date”), then the retiring Agent may (but shall not be obligated to), on behalf of the Lenders and  the Issuing Banks, appoint a successor Agent meeting the qualifications set forth above with the consent  of the Borrower (such consent not to be required if an Event of Default has occurred and is continuing at  the  time  of  such  assignment).   Whether  or  not  a  successor  has  been  appointed,  such  resignation  shall  become effective in accordance with such notice on the Resignation Effective Date.               (b)   If the Person serving as Agent is a Defaulting Lender, the Required Lenders may,  to the extent permitted by applicable law, by notice in writing to such Person and the other parties hereto  remove such Person as Agent and, with the consent of the Borrower (such consent not to be required if an  Event of Default has occurred and is continuing at the time of such appointment), appoint a successor.  If  no such successor shall have been so appointed by the Required Lenders and shall have accepted such  appointment  within  30  days  (or  such  earlier  day  as  shall  be  agreed  by  the  Required  Lenders)  (the  “Removal  Effective  Date”),  then  such removal  shall  nonetheless  become  effective  in  accordance  with  such notice on the Removal Effective Date.               (c)  With effect from the Resignation Effective Date or the Removal Effective Date (as  applicable)  (1)  the  retiring  or  removed  Agent  shall  be  discharged  from  its  duties  and  obligations  hereunder and under the Notes (except that in the case of any collateral security held by the Agent on  behalf of the Lenders or the Issuing Banks hereunder, the retiring or removed Agent shall continue to hold  such  collateral  security  until  such  time  as  a  successor  Agent  is  appointed)  and  (2)  all  payments,  communications  and  determinations  provided  to  be made  by,  to  or through  the  Agent shall  instead  be  made by or to each Lender and Issuing Bank directly, until such time, if any, as the Required Lenders  appoint a successor Agent as provided for above.  Upon the acceptance of a successor’s appointment as  Agent  hereunder,  such  successor  shall  succeed  to  and  become  vested  with  all  of  the  rights,  powers,  privileges  and  duties  of  the  retiring  or  removed  Agent,  and  the  retiring  or  removed  Agent  shall  be  discharged from all of its duties and obligations hereunder or under the Notes.  The fees payable by the  Borrower to  a  successor  Agent  shall  be  the  same  as those  payable  to its  predecessor  unless  otherwise  agreed between the Borrower and such successor.  After the retiring or removed Agent’s resignation or  removal hereunder, the provisions of this Article and Section 8.04 shall continue in effect for the benefit  of such retiring or removed Agent, its sub-agents and their respective Related Parties in respect of any  actions taken or omitted to be taken by any of them while the retiring or removed Agent was acting as  Agent.                 SECTION 7.08.  Non-Reliance on Agent and Other Lenders.  Each Lender and Issuing  Bank acknowledges that it has, independently and without reliance upon the Agent or any other Lender or  any of their Related Parties and based on such documents and information as it has deemed appropriate,  made its own credit analysis and decision to enter into this Agreement.  Each Lender and Issuing Bank  also acknowledges that it will, independently and without reliance upon the Agent or any other Lender or  any of their Related Parties and based on such documents and information as it shall from time to time  deem appropriate, continue to make its own decisions in taking or not taking action under or based upon  this Agreement, any Note or any related agreement or any document furnished hereunder or thereunder.               SECTION 7.09.  No Other Duties, etc.  Anything herein to the contrary notwithstanding,  none  of  the  Bookrunners,  Arrangers,  syndication  agent  or  co-documentation  agent listed  on  the  cover                                          52  NYDOCS02/1188161  

 

page hereof shall have any powers, duties or responsibilities under this Agreement or any of the Notes,  except in its capacity, as applicable, as the Agent, a Lender or an Issuing Bank hereunder.                 SECTION 7.10.  Lender ERISA Matters.                 (a)   Each  Lender (x) represents  and  warrants,  as  of the date such Person  became a  Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the  date  such  Person  ceases  being  a  Lender  party  hereto,  for  the  benefit  of,  the  Agent  and  not,  for  the  avoidance of doubt, to or for the benefit of the Borrower, that at least one of the following is and will be  true:               (i)   such Lender is not using “plan assets” (within the meaning of Section 3(42) of        ERISA or otherwise) of one or more Benefit Plans with respect to such Lender’s entrance into,        participation in, administration  of  and  performance  of  the Advances,  the  Letters  of  Credit, the        Commitments or this Agreement,               (ii) the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class        exemption  for  certain  transactions  determined  by  independent  qualified  professional  asset        managers), PTE 95-60 (a class exemption for certain transactions involving insurance company        general  accounts),  PTE  90-1  (a  class  exemption  for  certain  transactions  involving  insurance        company  pooled  separate  accounts),  PTE  91-38  (a  class  exemption  for  certain  transactions        involving  bank  collective  investment  funds)  or  PTE  96-23  (a  class  exemption  for  certain        transactions determined by in-house asset managers), is applicable with respect to such Lender’s        entrance into, participation in, administration of and performance of the Advances, the Letters of        Credit, the Commitments and this Agreement,               (iii) (A) such Lender is an investment fund managed by a “Qualified Professional Asset        Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset        Manager  made  the  investment  decision  on  behalf  of  such  Lender  to  enter  into,  participate  in,        administer  and  perform  the Advances,  the  Letters  of  Credit,  the  Commitments  and  this        Agreement,  (C)  the  entrance  into,  participation  in,  administration  of  and  performance  of  the        Advances, the Letters of Credit, the Commitments and this Agreement satisfies the requirements        of sub-sections  (b) through (g) of Part I of PTE 84-14 and (D) to the  best knowledge  of such        Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to        such Lender’s entrance into, participation in, administration of and performance of the Advances,        the Letters of Credit, the Commitments and this Agreement, or               (iv)  such  other  representation,  warranty  and  covenant  as  may  be  agreed  in  writing        between the Agent, in its sole discretion, and such Lender.               (b)   In addition, unless either (1) sub-clause (i) in the immediately preceding clause  (a) is true  with respect to a  Lender or (2) a  Lender has provided  another representation, warranty and  covenant in accordance with sub-clause (iv) in the immediately preceding clause (a), such Lender further  (x)  represents  and  warrants,  as  of  the  date  such  Person  became  a  Lender  party  hereto,  to,  and  (y)  covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a  Lender party hereto, for the benefit of, the Agent and not, for the avoidance of doubt, to or for the benefit  of the Borrower, that the Agent is not a fiduciary with respect to the assets of such Lender involved in  such  Lender’s  entrance  into,  participation  in,  administration  of  and  performance  of  the Advances,  the  Letters of Credit, the Commitments and this Agreement (including in connection with the reservation or  exercise of any rights by the Agent under this Agreement or any documents related hereto).                                          53  NYDOCS02/1188161  

 

As used in this Section:               “Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is        subject to Title I of ERISA, (b) a “plan” as defined in and subject to Section 4975 of the Code or        (c)  any  Person  whose  assets  include  (for  purposes  of  ERISA  Section  3(42)  or  otherwise  for        purposes of Title  I  of  ERISA  or  Section 4975 of the  Code)  the  assets  of any  such  “employee        benefit plan” or “plan”.               “PTE” means a prohibited transaction class exemption issued by the U.S. Department of        Labor, as any such exemption may be amended from time to time.                                    ARTICLE VIII                                  MISCELLANEOUS               SECTION 8.01.  Amendments, Etc.  No amendment or waiver of any provision of this  Agreement or the 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 (with respect to  amendments)  the  Borrower,  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 (a) no amendment, waiver  or consent shall, unless in writing and signed by all the Lenders, do any of the following:  (i) waive any of  the conditions specified in Section 3.01, (ii) change the percentage of the Revolving Credit Commitments  or of the  aggregate  unpaid principal amount of the  Advances, or the  number of Lenders, that shall be  required for the Lenders or any of them to take any action hereunder or (iii) amend this Section 8.01 and  (b) no amendment, waiver or consent shall, unless in writing and signed by the  Required Lenders and  each Lender that is directly affected by such amendment, waiver or consent, (i) other than as provided in  Section 2.18, increase the Commitments of such Lenders, (ii) reduce the principal of, or rate of interest  on, the Advances or any fees or other amounts payable hereunder to such Lender (except that the approval  of the Required Lenders shall be sufficient to waive Default Interest imposed in accordance with Section  2.07(b))  or  (iii) other  than  as  provided  in  Section  2.19,  postpone  any  date  fixed  for  any  payment  of  principal of, or interest on, the Advances or any fees or other amounts payable hereunder to such Lender,  or extend (or permit the extension of) the expiration date of any Letter of Credit to a date later than 10  Business  Days  prior  to  the  Termination  Date;  and provided further that  (x)  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, (y) no amendment,  waiver or consent shall, unless in writing and signed by each Swing Line Bank, in addition to the Lenders  required  above  to  take  such  action,  affect  the  rights  or  obligations  of  the  Swing  Line  Banks  in  their  capacities as such under this Agreement, and (z) no amendment, waiver or consent shall, unless in writing  and signed by the Issuing Banks in addition to the Lenders required above to take such action, adversely  affect the rights or obligations of the Issuing Banks in their capacities as such under this Agreement.               SECTION 8.02.  Notices, Etc.  (a)  Notices Generally.  Except in the case of notices and  other communications expressly permitted to be given by telephone (and except as provided in paragraph  (b)  below),  all  notices  and  other  communications  provided  for  herein  shall  be  in  writing  and  shall  be  delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile  as follows:                     (i)   if to the Borrower, to it at 233 South Wacker Drive, 50th Floor, Chicago,              Illinois 60606, Attention of Treasurer (Telephone No. (312) 621-6200);                                          54  NYDOCS02/1188161  

 

                  (ii)  if  to  the  Agent,  to  it  at  1615  Brett  Road,  Building  #3,  New  Castle,              Delaware  19720,  Attention  of Agency  Operations (Facsimile  No.  (646)  274-5080;              Telephone   No.    (302)   894-6010);   Borrower   inquiries  only:              AgencyABTFSupport@citi.com;  Borrower  notifications: GlAgentOfficeOps@Citi.com;               Disclosure Team Mail (Financial Reporting):  oploanswebadmin@citi.com;                     (iii) if  to if  to  PNC  Bank,  National  Association  in  its  capacity  as  Issuing              Bank, to it at 6750 Miller Road Loc: BR-YB58-01-O, Brecksville, OH 44141, Attention              of Isalene Hasan, Senior Loan Support Analyst (Facsimile No. 877-718-7656; Telephone              No. 440-546-7388); if to U.S. Bank National Association in its capacity as Issuing Bank,              to  it  at 400  City  Center, Oshkosh,  WI  54901 Attention  of NSLS  Deal  Administrator              (Facsimile No. 920-237-7993; Telephone No. 920-237-7601); and if to any other Issuing              Bank, to it at the address provided in writing to the Agent and the Borrower at the time of              its appointment as an Issuing Bank hereunder;                      (iv)  if to a Lender, to it at its address (or facsimile number) set forth in its              Administrative Questionnaire.   Notices  sent by  hand  or  overnight  courier  service,  or  mailed  by  certified  or  registered  mail,  shall  be  deemed to have been given when received; notices sent by facsimile shall be deemed to have been given  when sent (except that, if not given during normal business hours for the recipient, shall be deemed to  have been given at the opening of business on the next business day for the recipient).  Notices delivered  through electronic communications, to the extent provided in paragraph (b) below, shall be effective as  provided in said paragraph (b).               (b)   Electronic  Communications.   Notices  and  other  communications  to  the  Agent,  the Lenders and the Issuing Banks hereunder may be delivered or furnished by electronic communication  (including  e-mail  and  Internet  or  intranet  websites)  pursuant  to  procedures  approved  by  the  Agent,  provided that the foregoing shall not apply to notices to the Agent, any Lender or Issuing Bank pursuant  to Article II if the Agent, such Lender or Issuing Bank, as applicable, has notified the Borrower and the  Agent  that  it  is  incapable  of  receiving  notices  under  such  Article  by  electronic  communication.   The  Agent  or  the  Borrower  may,  in  its  discretion,  agree  to  accept  notices  and  other  communications  to  it  hereunder by electronic communications pursuant to procedures approved by it; provided that approval of  such procedures may be limited to particular notices or communications.               Unless the Agent otherwise prescribes, (i) notices and other communications sent to an e- mail  address  shall  be  deemed  received upon  the  sender’s  receipt  of  an  acknowledgement  from  the  intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other  written acknowledgement), and (ii) notices or communications posted to an Internet or intranet website  shall  be  deemed  received  upon  the  deemed  receipt  by  the  intended  recipient,  at  its  e-mail  address  as  described in the foregoing clause (i), of notification that such notice or communication is available and  identifying the website address therefor; provided that, for both clauses (i) and (ii) above, if such notice,  email or other communication is not sent during the normal business hours of the recipient, such notice or  communication shall be deemed to have been sent at the opening of business on the next business day for  the recipient.               (c)   Change of Address, etc.  Any party hereto may change its address or facsimile  number for notices and other communications hereunder by notice to the other parties hereto.               (d)   Platform.                                          55  NYDOCS02/1188161  

 

                  (i)   The Borrower agrees that the Agent may, but shall not be obligated to,              make  the  Communications  (as  defined  below)  available  to  the  Issuing  Banks  and  the              other Lenders by posting the Communications on Debt Domain, Intralinks, Syndtrak or a              substantially similar electronic transmission system (the “Platform”).                     (ii)  The Platform is provided “as is” and “as available.”  The Agent Parties              (as defined below) do not warrant the adequacy of the Platform and expressly disclaim              liability  for  errors  or  omissions  in  the  Communications.  No  warranty  of  any  kind,              express,  implied  or  statutory,  including,  without  limitation,  any  warranty  of              merchantability, fitness for a particular purpose, non-infringement of third-party rights or              freedom from viruses or other code defects, is made by any Agent Party in connection              with  the  Communications  or  the  Platform.   In  no  event  shall  the  Agent  or  any  of  its              Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower, any              Lender  or  any  other  Person  or  entity  for  damages  of  any kind,  including,  without              limitation,  direct  or  indirect,  special,  incidental  or  consequential  damages,  losses  or              expenses (whether in tort, contract or otherwise) arising out of the Agent’s transmission              of  communications  through  the  Platform.   “Communications”  means,  collectively,  any              notice,  demand,  communication,  information,  document  or  other  material  that  the              Borrower  provides  to  the  Agent  pursuant  to  this  Agreement  or  the  transactions              contemplated therein which is distributed to the Agent, any Lender or any Issuing Bank              by means of electronic communications pursuant to this Section, including through the              Platform.               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  reasonable costs and expenses of the Agent (supported by invoices) 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  reasonable  due  diligence, syndication (including printing, distribution and bank meetings), transportation and duplication  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  (supported  by  invoices)  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 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                                         56  NYDOCS02/1188161  

 

alleged presence of Hazardous Materials on any property of the Borrower or any of its Subsidiaries or any  Environmental Liability relating in any way to the Borrower or any of its Subsidiaries, in each case except  to the extent such claim, damage, loss, liability or expense 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, equity holders 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, and the Lenders and the Agent agree not to assert any such claim against the Borrower, 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 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  2.21,  or  if  any  Borrowing  of,  Conversion  into  or  continuation of any Eurodollar Rate Advance is not effected after the Borrower has given notice thereof  (solely  to  the  extent  the  failure  to  take  effect  was  caused  by  the  Borrower  or  a  failure  to  satisfy  the  applicable conditions in Section 3.02), 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, or as a result of any such Borrowing, Conversion or continuation  not being effected (solely to the extent the failure to take effect was caused by the Borrower or a failure to  satisfy the applicable conditions in Section 3.02), including, without limitation, any loss (excluding loss  of  anticipated  profits  (including  the  Applicable  Margin)),  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; provided further, that in the event that any Defaulting Lender exercises any such  right of setoff, (x) all amounts so set off will be paid over immediately to the Agent for further application                                         57  NYDOCS02/1188161  

 

in accordance with the provisions of Section 2.20(a) and, pending such payment, will be segregated by  such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Agent, the  Issuing  Banks,  the  Swing  Line  Banks  and  the  Lenders  and  (y)  such  Defaulting  Lender  will  provide  promptly  to  the  Agent  a  statement  describing  in  reasonable  detail  the  obligations  owing  to  such  Defaulting  Lender  as  to  which  it  exercised  such  right  of  setoff.   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  Section 2.01, 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 or obligations  hereunder or any interest herein without the prior written consent of each Lender (and any other attempted  assignment or transfer by the Borrower shall be null and void) and any replacement of the Agent shall be  in accordance with Section 7.07.               SECTION 8.07.  Assignments and Participations.  (a)  Successors and Assigns Generally.   No Lender may assign or otherwise  transfer any of its rights or obligations  hereunder except (i) to an  assignee in accordance with the provisions of paragraph (b) of this Section, (ii) by way of participation in  accordance with the provisions of paragraph (d) of this Section, or (iii) by way of pledge or assignment,  or grant of a security interest, subject to the restrictions of paragraph (f) of this Section (and any other  attempted  assignment  or  transfer  by  any  Lender  shall  be  null  and  void).   Nothing  in  this  Agreement,  expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their  respective successors and assigns permitted hereby, Participants to the extent provided in paragraph (d) of  this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Agent  and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.               (b)   Assignments  by Lenders.  Any Lender may at any time  assign to one  or more  Eligible Assignees all or a portion of its rights and obligations under this Agreement (including all or a  portion of its Revolving Credit Commitment, Letter of Credit Commitment or Swing Line Commitment  and the Advances at the time owing to it); provided that (in each case with respect to any Facility) any  such assignment shall be subject to the following conditions:                (i)   Minimum Amounts.  Except in the case of an assignment of the entire remaining        amount of any assigning Lender’s Commitment and/or the Advances at the time owing to it (in        each case with respect to any Facility), the amount of (x) the Revolving Credit Commitment of        the assigning Lender being assigned pursuant to each such assignment (determined as of the date        of the Assignment and Assumption with respect to such assignment) shall in no event be less than        $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) the unused Letter of        Credit  Commitment  of  the  assigning  Lender  being  assigned  pursuant  to  each  such  assignment        (determined as of the date of the applicable Assignment and Assumption) shall in no event be less        than $1,000,000, unless, in each case, the Borrower and the Agent otherwise agree.                (ii)  Proportionate Amounts.  Each partial assignment shall be made as an assignment        of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement        with respect to the Advances or the Commitment assigned, except that this clause (ii) shall not        prohibit any Lender from assigning all or a portion of its rights and obligations among separate        Facilities on a non-pro rata basis.                                          58  NYDOCS02/1188161  

 

            (iii) Required Consents.  No consent shall be required for any assignment except to        the extent required by paragraph (b)(i) of this Section and, in addition:                     (A) the consent of the Borrower (such consent not to be unreasonably withheld or              delayed) shall be required unless (x) an Event of Default has occurred and is continuing              at the time of such assignment, or (y) such assignment is to a Lender or an Affiliate of a              Lender that is in the business of making and/or buying loans of the type described herein;              provided that (i)  if  the  assignment  is  to  an  Affiliate  of  a  Lender  either  the  Borrower              consents to the assignment or the assignee represents and warrants that it will not fund              any  portion  of  any  Advance  with  the plan  assets  of  any  “employee  benefit  plan”  (as              defined  by  Section  3(3)  of  ERISA)  that  is  subject  to  Title  I  of  ERISA,  or  any  “plan”              defined by and  subject to Section 4975 of the  Code if it would cause the Borrower to              incur any prohibited transaction excise tax penalties under Section 4975 of the Code and              (ii)  the  Borrower  shall  be  deemed  to  have  consented  to  any  such  assignment  unless  it              shall object thereto by written notice to the Agent within ten Business Days after having              received notice thereof;                       (B) the consent of the Agent (such consent not to be unreasonably withheld or              delayed) shall be required for assignments to a Person who is not a Lender or an Affiliate              of a Lender; and                     (C) the consent of each Issuing Bank and Swing Line Bank (such consent not to              be unreasonably withheld or delayed) shall be required for any assignment in respect of              the Revolving Credit Facility.               (iv)  Assignment and Assumption.  The parties to each assignment shall execute and        deliver to the Agent an Assignment and Assumption, together with a processing and recordation        fee of $3,500; provided that the Agent may, in its sole discretion, elect to waive such processing        and recordation fee in the case of any assignment.  The assignee, if it is not a Lender, shall deliver        to the Agent an Administrative Questionnaire.               (v)   No Assignment to Certain Persons.  No such assignment shall be made to (A) the        Borrower or any of the Borrower’s Affiliates or Subsidiaries or (B) to any Defaulting Lender or        any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute        any of the foregoing Persons described in this clause (B).               (vi)  No  Assignment  to  Natural  Persons.   No  such  assignment  shall  be  made  to  a        natural Person.                 (vii) Certain Additional Payments.  In connection with any assignment of rights and        obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and        until, in addition to the other conditions thereto set forth herein, the parties to such assignment        shall  make  such  additional  payments  to  the  Agent  in  an  aggregate  amount  sufficient,  upon        distribution thereof as appropriate (which may be outright payment, purchases by the assignee of        participations  or  subparticipations,  or  other  compensating  actions,  including  funding,  with  the        consent  of  the  Borrower  and  the  Agent,  the  applicable  pro  rata  share  of  Advances  previously        requested but not funded by the Defaulting Lender, to each of which the applicable assignee and        assignor  hereby  irrevocably  consent), to  (x)  pay  and  satisfy  in  full  all  payment  liabilities  then        owed by such Defaulting Lender to the Agent, each Issuing Bank, each Swing Line Bank and        each  other  Lender  hereunder  (and  interest  accrued  thereon),  and  (y)  acquire  (and  fund  as        appropriate)  its  full  pro  rata  share  of  all  Advances  and  participations  in  Letters  of  Credit  and                                         59  NYDOCS02/1188161  

 

      Swing Line Advances in accordance with its Ratable Share.  Notwithstanding the foregoing, in        the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall        become effective under applicable law without compliance with the provisions of this paragraph,        then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of        this Agreement until such compliance occurs.               Subject to acceptance  and recording thereof by the  Agent pursuant to paragraph (c) of  this Section, from and after the effective date specified in each Assignment and Assumption, the assignee  thereunder  shall  be  a  party  to  this  Agreement  and,  to  the  extent  of  the  interest  assigned  by  such  Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the  assigning  Lender  thereunder  shall,  to  the  extent  of  the  interest  assigned  by  such  Assignment  and  Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment  and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such  Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 2.11,  2.14  and 8.04 with  respect  to  facts  and  circumstances  occurring  prior  to  the  effective  date  of  such  assignment; provided that,  except  to  the  extent  otherwise  expressly  agreed  by  the  affected  parties, no  assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder  arising from that Lender’s having been a Defaulting Lender.  Any assignment or transfer by a Lender of  rights or obligations under this Agreement that does not comply with this paragraph shall be treated for  purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in  accordance with paragraph (d) of this Section.               (c)   Register.  The Agent, acting solely for this purpose as an agent of the Borrower,  shall  maintain  at  one  of  its  offices  in  the  United  States  a  copy  of  each  Assignment  and  Assumption  delivered  to  it  and  a  register  for  the  recordation  of  the  names  and  addresses  of  the  Lenders,  and  the  Commitments of, and principal amounts of the Advances owing to, each Lender pursuant to the terms  hereof  from  time  to  time  (the  “Register”).   In  addition,  the  Agent  shall  maintain  on  the  Register  information  regarding  the  designation  and  revocation  of  designation  of  any  Lender  as  a  Defaulting  Lender.   The  entries  in  the Register  shall  be  conclusive  absent  manifest  error,  and  the  Borrower,  the  Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the  terms hereof as a Lender hereunder for all purposes of this Agreement.  The Register shall be available  for  inspection  by  the  Borrower  and  any  Lender,  at  any  reasonable  time  and  from  time  to  time  upon  reasonable prior notice.               (d)   Participations.  Any Lender may at any time, without the consent of, or notice to,  the Borrower or the Agent, sell participations to any Person (other than a natural Person or the Borrower  or  any  of  the  Borrower’s  Affiliates  or  Subsidiaries)  (each,  a  “Participant”)  in  all  or  a  portion  of  such  Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitments  and/or the Advances owing to it); provided that (i) such Lender’s obligations under this Agreement shall  remain  unchanged,  (ii)  such  Lender  shall  remain  solely  responsible  to  the  other  parties  hereto  for  the  performance  of such  obligations,  and  (iii)  the  Borrower,  the  Agent,  the  Issuing  Banks  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.   For  the  avoidance  of  doubt,  each  Lender  shall  be  responsible for the indemnity under Section 7.05 with respect to any payments made by such Lender to its  Participant(s).               Any agreement or instrument pursuant to which a Lender sells such a participation shall  provide  that  such  Lender  shall  retain  the  sole  right  to  enforce  this  Agreement  and  to  approve  any  amendment, modification or waiver of any provision of this Agreement; provided that such agreement or  instrument may provide that such Lender will not, without the consent of the Participant, agree to any  amendment, modification or waiver described in clause (a) of the first proviso of Section 8.01 that affects                                         60  NYDOCS02/1188161  

 

such Participant.  The Borrower agrees that each Participant shall be entitled to the benefits of Sections  2.11, 2.14 and 8.04(c) to the same extent as if it were the granting Lender; provided that such Participant  agrees to be subject to the provisions of Section 2.21 as if it were an assignee under paragraph (b) of this  Section.  No Participant shall be entitled to the benefits of Section 8.05.               (e)   Limitations upon Participant Rights.  A Participant shall not be entitled to receive  any greater payment under Sections 2.11 or 2.14 than the applicable Lender would have been entitled to  receive with respect to the participation sold to such Participant, unless the sale of the participation to  such Participant is made with the Borrower’s prior written consent.  A Participant that would be a Foreign  Lender if it were a  Lender shall not be entitled to the  benefits  of Section 2.14 unless  the  Borrower is  notified  of the  participation sold to such Participant and  such  Participant agrees,  for the  benefit of the  Borrower, to comply with Section 2.14(e) as though it were a Lender.               (f)   Certain  Pledges.   Any  Lender  may  at  any  time  pledge  or assign,  or  grant  a  security  interest in, all  or any  portion  of its  rights  under  this  Agreement  to  secure  obligations  of  such  Lender,  including  any  pledge  or  assignment,  or  grant  of  a  security  interest,  to  secure  obligations  to  a  Federal  Reserve  Bank; provided that  no such pledge  or assignment  or  grant shall  release  such  Lender  from  any  of  its  obligations  hereunder  or  substitute  any  such  pledgee  or  assignee  or  grantee  for  such  Lender as a party hereto.                 (g)   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  (for  the  benefit  of  the  Borrower)  to  preserve  the  confidentiality of any Borrower Information relating to the Borrower received by it from such Lender.               SECTION 8.08.  Confidentiality.  Neither the Agent nor any Lender may disclose to any  Person any confidential, proprietary or non-public information of the Borrower furnished to the Agent or  the Lenders by or on behalf of the Borrower (such information being referred to collectively herein as the  “Borrower Information”), except that each of the Agent and each of the Lenders may disclose Borrower  Information (a) to its  Related  Parties (it being understood that the  Persons to whom such disclosure  is  made will be informed of the confidential nature of such Borrower Information and instructed to keep  such Borrower Information confidential on substantially the same  terms  as provided  herein), (b) to the  extent  required  or  requested  by  any  regulatory  authority  having  jurisdiction  over  such  Person  or  its  Related  Parties  (including  any  self-regulatory  authority,  such  as  the  National  Association of  Insurance  Commissioners);  (c)  to  the  extent  required  by  applicable  laws  or  regulations  or  by  any  subpoena  or  similar legal process; (d) to any other party hereto; (e) in connection with the exercise of any remedies  hereunder or under any Note or any action or proceeding relating to this Agreement or any Note or the  enforcement  of  rights  hereunder  or  thereunder;  (f)  subject  to  an  agreement  (for  the  benefit  of  the  Borrower) containing provisions substantially the same as those of this Section, to (i) any assignee of or  Participant in, or any prospective assignee of or Participant in, any of its rights and obligations under this  Agreement, or (ii) any actual or prospective party (or its Related Parties) to any swap, derivative or other  transaction under which payments are to be made by reference to the Borrower and its obligations, this  Agreement  or  payments  hereunder;  (g)  to  the  extent  such  Information  (x)  becomes  publicly  available  other than as a result of a breach of this Section 8.08 by the Agent or such Lender, or (y) is or becomes  available to the Agent or such Lender on a nonconfidential basis from a source other than the Borrower  and (h) with the consent of the Borrower.               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.                                         61  NYDOCS02/1188161  

 

            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 an executed counterpart of a signature page to this Agreement by facsimile  shall be effective as delivery of a manually executed counterpart of this Agreement.               SECTION 8.11.  Jurisdiction, Etc.  (a)  Each party hereto irrevocably and unconditionally  agrees that it will not commence any action, litigation or proceeding of any kind or description, whether  in law or equity, whether in contract or in tort or otherwise, against any other party hereto or any Related  Party  of  the  foregoing  in  any  way  relating  to  this  Agreement  or  any  Note  or  the  transactions  relating  hereto  or  thereto,  in  any  forum  other  than  the  courts  of  the  State  of  New  York  sitting  in  New  York  County, and of the United States District Court for the Southern District of New York, and any appellate  court  from  any  thereof,  and  each  of  the parties  hereto  irrevocably  and  unconditionally  submits  to  the  jurisdiction of such courts and agrees that all claims in respect of any such action, litigation or proceeding  may  be  heard  and  determined  in  such  New  York  State  court  or,  to  the  fullest  extent permitted  by  applicable 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  upon  CT  Corporation  System  at  its  offices  at  111  Eighth  Avenue,  New  York,  New  York  10011  (the  “Process Agent”) and the Borrower hereby irrevocably appoints the Process Agent its authorized agent to  accept such service of process, and agrees that the failure of the Process Agent to give any notice of any  such service shall not impair or affect the validity of such service or of any judgment rendered in any  action or proceeding based thereon.  The Borrower hereby further irrevocably consents to the service of  process  in  any  action  or  proceeding in  such  courts  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.                (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.               SECTION 8.12.  No Liability of the Issuing Banks.  The Borrower assumes all risks of  the acts or omissions of any beneficiary or transferee of any Letter of Credit with respect to its use of such  Letter of Credit.  Neither an Issuing Bank nor any of its officers or directors shall be liable or responsible  for:  (a) the use that may be made of any Letter of Credit or any acts or omissions of any beneficiary or  transferee in connection therewith; (b) the validity, sufficiency or genuineness of documents, or of any  endorsement  thereon,  even  if such  documents  should  prove  to  be  in  any  or  all  respects  invalid,  insufficient, fraudulent or forged; (c) payment by such Issuing Bank against presentation of documents  that do not comply with the terms of a Letter of Credit, including failure of any documents to bear any  reference  or  adequate  reference  to  the  Letter  of  Credit;  or  (d)  any  other  circumstances  whatsoever  in  making  or  failing  to  make  payment  under  any  Letter  of  Credit,  except that  the  Borrower  shall  have  a  claim against such Issuing Bank, and such Issuing Bank shall be liable to the Borrower, to the extent of  any direct, but not consequential damages suffered by the Borrower that the Borrower proves were caused  by  (i)  such  Issuing  Bank’s  willful  misconduct  or  gross  negligence  in  determining  whether  documents  presented under any Letter of Credit comply with the terms of the Letter of Credit or (ii) such Issuing  Bank’s willful failure to make lawful payment under a Letter of Credit after the presentation to it of a  draft  and  certificates  strictly complying  with  the  terms  and  conditions  of  the  Letter  of  Credit.   In                                         62  NYDOCS02/1188161  

 

furtherance and not in limitation of the foregoing, such Issuing Bank may accept documents that appear  on their face to be in order, without responsibility for further investigation.               SECTION 8.13.  Patriot Act.  Each Lender hereby notifies the Borrower that pursuant to  the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001))  (the “Act”), it is required to obtain, verify and record information that identifies each borrower, guarantor  or grantor (the “Loan Parties”), which information includes the name and address of each Loan Party and  other information that will allow such Lender to identify such Loan Party in accordance with the Act.               SECTION  8.14.  Acknowledgement  and  Consent  to  Bail-In  of  EEA  Financial  Institutions.                 Notwithstanding  anything  to  the  contrary in this  Agreement,  any  Note  or  in  any  other  agreement, arrangement or understanding among any such parties, each party hereto acknowledges that  any liability of any EEA Financial Institution arising under this Agreement, to the extent such liability is  unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and  agrees and consents to, and acknowledges and agrees to be bound by:         (a) the application of any Write-Down and Conversion Powers by an EEA Resolution Authority           to any such liabilities arising hereunder which may be payable to it by any party hereto that is           an EEA Financial Institution; and         (b) the effects of any Bail-in Action on any such liability, including, if applicable:               (i) a reduction in full or in part or cancellation of any such liability;               (ii) a conversion of all, or a portion of, such liability into shares or other instruments of                 ownership  in  such  EEA  Financial  Institution,  its  parent  undertaking,  or  a  bridge                 institution that may be issued to it or otherwise conferred on it, and that such shares                 or other instruments of ownership will be accepted  by it in lieu of any rights with                 respect to any such liability under this Agreement; or               (iii) the  variation  of  the  terms  of  such  liability  in  connection  with  the  exercise  of  the                 write-down and conversion powers of any EEA Resolution Authority.               As used in this Agreement, the following terms shall have the following meanings:               “Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the  applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution.               “Bail-In  Legislation”  means,  with  respect  to  any  EEA  Member  Country  implementing  Article  55  of  Directive  2014/59/EU  of  the  European  Parliament  and  of  the  Council  of  the  European  Union, the implementing law for such EEA Member Country from time to time which is described in the  EU Bail-In Legislation Schedule.               “EEA  Financial  Institution”  means  (a)  any  credit  institution  or  investment  firm  established  in  any  EEA  Member  Country  which  is  subject to  the  supervision  of  an  EEA  Resolution  Authority,  (b)  any  entity  established  in  an  EEA  Member  Country  which  is  a  parent  of  an  institution  described in clause (a) of this definition, or (c) any financial institution established in an EEA Member  Country which is  a subsidiary of an institution described in clauses (a) or (b) of this  definition and is  subject to consolidated supervision with its parent;                                           63  NYDOCS02/1188161  

 

            “EEA  Member  Country”  means  any  of  the  member  states  of  the  European  Union,  Iceland, Liechtenstein, and Norway.               “EEA  Resolution  Authority”  means  any  public  administrative  authority  or  any  person  entrusted  with  public  administrative  authority  of  any  EEA  Member  Country  (including  any  delegee)  having responsibility for the resolution of any EEA Financial Institution.               “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published  by the Loan Market Association (or any successor person), as in effect from time to time.                “Write-Down  and  Conversion  Powers”  means,  with  respect  to  any  EEA  Resolution  Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time  under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion  powers are described in the EU Bail-In Legislation Schedule.                                          64  NYDOCS02/1188161  

 

            SECTION 8.15.  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.                                          GATX CORPORATION                                                                                  By /s/ Eric D. Harkness                                           Name:  Eric D. Harkness                                           Title:  Sr. VP, Treasurer & Chief Risk Officer                                                                                    CITIBANK, N.A.,                                          as Agent and Lender                                                                                  By /s/ Richard Rivera                                           Name:  Richard Rivera                                           Title:  Vice President                                                                                      BANK OF AMERICA, N.A., as Lender                                           By /s/ Irene Bertozzi Bartenstein                                           Name:  Irene Bertozzi Bartenstein                                           Title:  Director                                                                                      KEYBANK NATIONAL ASSOCIATION, as                                         Lender                                                                                  By /s/ Tad L. Stainbrook                                           Name:  Tad L. Stainbrook                                           Title:  Vice President                                                                                                                               MORGAN STANLEY BANK, N.A., as Lender                                           By /s/ Michael King                                           Name:  Michael King                                           Title:  Authorized Signatory                                                                                                                              PNC BANK, NATIONAL ASSOCIATION, as                                         Lender and Issuing Bank                                           By /s/ Kristin L. Lenda                                           Name:  Kristin L. Lenda                                           Title:  Senior Vice President                             GATX – Five Year Credit Agreement  NYDOCS02/1188161  

 

                                                                                                                             U.S. BANK NATIONAL ASSOCIATION, as                                         Lender and Issuing Bank                                                                                  By /s/ Eric Herm                                           Name:  Eric Herm                                           Title:  Officer                                                                                    BAYERISCHE LANDESBANK, NEW YORK                                         BRANCH, as Lender                                           By /s/ Rolf Siebert                                           Name:  Rolf Siebert                                           Title:  Executive Director                                                                                    By /s/ Elke Videgain                                           Name:  Elke Videgain                                           Title:  Vice President                                                                                                                                BMO HARRIS BANK N.A., as Lender                                                                                  By /s/ Travis Gehrke                                           Name:  Travis Gehrke                                           Title:  Vice President                                                                                                                                FIFTH THIRD BANK, as Lender                                           By /s/ Michael Cortese                                           Name:  Michael Cortese                                           Title:  Vice President                                             MIZUHO BANK, LTD., as Lender                                           By /s/ Donna DeMagistris                                           Name:  Donna DeMagistris                                           Title:  Authorized Signatory                                                                                                                               MUFG BANK, LTD., as Lender                                           By /s/ Oscar Cortez                                           Name: Oscar Cortez                                           Title:  Oscar Cortez                              GATX – Five Year Credit Agreement  NYDOCS02/1188161  

 

                                       THE NORTHERN TRUST COMPANY, as Lender                                           By /s/ Coleen Letke                                           Name:  Coleen Letke                                           Title:  Senior Vice President                                                                                                                       GATX – Five Year Credit Agreement  NYDOCS02/1188161  

 

                                                                   SCHEDULE I                                                             GATX CORPORATION                                                             CREDIT AGREEMENT                                                                                                                               Name of Initial Lender Revolving Credit Swing Line    Letter of Credit                            Commitment      Commitment      Commitment      Citibank, N.A.           $88,235,294.11  $30,000,000.00                    Bank of America, N.A.    $88,235,294.11                                    KeyBank National         $52,941,176.47                                    Association      Morgan Stanley Bank,     $52,941,176.47                                    N.A.      PNC Bank, National       $52,941,176.47                   $20,000,000.00      Association      U.S. Bank National       $52,941,176.47                   $20,000,000.00      Association      Bayerische Landesbank,   $35,294,117.65                                    New York Branch      BMO Harris Bank N.A.     $35,294,117.65                                    Fifth third Bank         $35,294,117.65                                    Mizuho Bank, Ltd.        $35,294,117.65                                    MUFG Bank, Ltd.          $35,294,117.65                                    The Northern Trust       $35,294,117.65                                    Company                                                                                 Total                   $600,000,000.00  $30,000,000.00   $40,000,000.00        NYDOCS02/1188161  

 

                                                                Schedule 2.01(b)                                                           Existing Letters of Credit                                                                                                                                                                                                       None   NYDOCS02/1188161  

 

                                                           EXHIBIT A - FORM OF                                                                           NOTE    U.S.$_______________                      Dated:  _______________, 20__               FOR  VALUE  RECEIVED,  the  undersigned,  GATX  CORPORATION,  a  New  York  corporation  (the  “Borrower”),  HEREBY  PROMISES  TO  PAY   to  the  order  of  _________________________  (the  “Lender”) for  the  account  of  its  Applicable  Lending  Office on the  Termination Date applicable to such Lender (each as defined in the Credit Agreement referred to below)  the principal sum of U.S.$[amount of the Lender’s Revolving Credit Commitment in figures] or, if less,  the aggregate principal amount of the Revolving Credit Advances (as defined below) made by the Lender  to  the  Borrower  pursuant  to  the  Five  Year  Credit  Agreement  dated  as  of May  23,  2019 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 Termination 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 388 Greenwich Street, New York, New York 10013, 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 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  advances  (the  “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.                                             GATX CORPORATION                                             By __________________________                                                Title:   NYDOCS02/1188161  

 

                    ADVANCES AND PAYMENTS OF PRINCIPAL                                          Amount of                         Date           Amount of       Principal Paid  Unpaid Principal     Notation                   Advance          or Prepaid        Balance          Made By                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     2  NYDOCS02/1188161  

 

                                                    EXHIBIT B - FORM OF NOTICE OF                                                                    BORROWING  Citibank, N.A., as Agent    for the Lenders parties    to the Credit Agreement    referred to below    1615 Brett Road, Building #3    New Castle, Delaware 19720                                            [Date]               Attention: Bank Loan Syndications Department   Ladies and Gentlemen:               The undersigned, GATX Corporation, refers to the Five Year Credit Agreement, dated as  of May 23, 2019 (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 Borrowing under the Credit  Agreement,  and  in  that  connection  sets  forth  below  the  information  relating  to  such  Borrowing  (the  “Proposed Borrowing”) as required by Section 2.02(a) of the Credit Agreement:               (i)   The Business Day of the Proposed Borrowing is _______________, 20__.               (ii)  The  Facility  under  which  the  Proposed Borrowing  is  requested  is  the                    _______________ Facility.               (iii) The  Type  of  Advances  comprising  the  Proposed  Borrowing  is  [Base  Rate                    Advances]  [Eurodollar  Rate  Advances]  [LIBOR  Swing  Line  Advance]  [Fed                    Funds Swing Line Advance].               (iv)  The aggregate amount of the Proposed Borrowing is $_______________.               (v)   [The initial Interest Period for each Eurodollar Rate Advance made as part of the                    Proposed Borrowing is _____ [week[s]] [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 Borrowing:               (A)   the  representations  and  warranties  contained  in  Section 4.01  of  the  Credit        Agreement (except the representations set forth in subsection (d)(ii) thereof and in subsection (f)        thereof)  are  correct,  before  and  after  giving  effect  to  the  Proposed  Borrowing  and  to  the        application of the proceeds therefrom, as though made on and as of such date, except to the extent        such  representation  or  warranty  related  to  a  specific  earlier  date,  in  which  case  such        representation or warranty shall have been true and correct as of such earlier date;    NYDOCS02/1188161  

 

            (B)   no  event  has  occurred  and  is  continuing,  or  would  result  from  such  Proposed        Borrowing or from the application of the proceeds therefrom, that constitutes a Default; and                                             Very truly yours,                                             GATX CORPORATION                                             By __________________________                                                  Title:                                          2  NYDOCS02/1188161  

 

                                                                                                       EXHIBIT C - FORM OF                                                    ASSIGNMENT AND ASSUMPTION               This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the  Assignment  Effective  Date  set  forth  below and  is  entered  into  by  and  between  [the][each]1 Assignor  identified in item 1 below ([the][each, an] “Assignor”) and [the][each]2 Assignee identified in item 2 below  ([the][each,  an]  “Assignee”).   [It  is  understood  and  agreed  that  the  rights  and  obligations  of  [the  Assignors][the Assignees]3 hereunder are several and not joint.]4  Capitalized terms used but not defined  herein shall have the meanings given to them in the Credit Agreement identified below (as amended, the  “Credit Agreement”), receipt of a copy of which is hereby acknowledged by [the][each] Assignee.  The  Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated  herein by reference and made a part of this Assignment and Assumption as if set forth herein in full.               For an agreed consideration, [the][each] Assignor hereby irrevocably sells and assigns to  [the  Assignee][the  respective  Assignees],  and  [the][each]  Assignee  hereby  irrevocably  purchases  and  assumes  from  [the  Assignor][the  respective  Assignors],  subject  to  and  in  accordance  with  the  Standard  Terms  and  Conditions  and  the  Credit  Agreement,  as  of  the  Assignment  Effective  Date  inserted  by  the  Agent as contemplated below (i) all of [the Assignor’s][the respective Assignors’] rights and obligations in  [its capacity as a Lender][their respective capacities as Lenders] under the Credit Agreement and any other  documents  or  instruments  delivered  pursuant thereto to  the  extent  related  to the  amount  and  percentage  interest identified below of all of such outstanding rights and obligations of [the Assignor][the respective  Assignors]  under  the  respective  Facilities  identified  below  (including  without  limitation  any  letters  of  credit, guarantees, and Swing Line Advances included in such Facilities), and (ii) to the extent permitted to  be assigned under applicable law, all claims, suits, causes of action and any other right of [the Assignor (in  its capacity as a Lender)][the respective Assignors (in their respective capacities as Lenders)] against any  Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other  documents or instruments delivered pursuant thereto or the credit transactions governed thereby or in any  way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims,  malpractice  claims,  statutory  claims  and  all  other  claims  at  law  or  in  equity  related  to  the  rights  and  obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned by  [the][any] Assignor to [the][any] Assignee pursuant to clauses (i) and (ii) above being referred to herein  collectively  as  [the][an]  “Assigned  Interest”).   Each  such  sale  and  assignment  is  without  recourse  to  [the][any]  Assignor  and,  except  as  expressly  provided  in  this  Assignment  and  Assumption,  without  representation or warranty by [the][any] Assignor.     1.    Assignor[s]:      ________________________________                            ______________________________        [Assignor [is] [is not] a Defaulting Lender]                                                    1 For bracketed language here and elsewhere in this form relating to the Assignor(s), if the        assignment is from a single Assignor, choose the first bracketed language.  If the        assignment is from multiple Assignors, choose the second bracketed language.   2 For bracketed language here and elsewhere in this form relating to the Assignee(s), if the        assignment is to a single Assignee, choose the first bracketed language.  If the assignment        is to multiple Assignees, choose the second bracketed language.   3 Select as appropriate.   4 Include bracketed language if there are either multiple Assignors or multiple Assignees.   NYDOCS02/1188161  

 

                                      -2-    2.    Assignee[s]:      ______________________________                            ______________________________        [for each Assignee, indicate [Affiliate] of [identify Lender]]    3.    Borrower(s):      ______________________________    4.    Agent: Citibank, N.A., as the administrative agent under the Credit Agreement    5.    Credit Agreement: The $600,000,000 Five Year Credit Agreement dated as of May 23, 2019                          among GATX Corporation, the Lenders parties thereto, Citibank, N.A., as                          Agent, and the other agents parties thereto    6.     Assigned Interest[s]:                                                                Percentage                               Aggregate Amount of Amount of  Assigned of                       Facility Commitment/Advances Commitment/Advances Commitment/ CUSIP   Assignor[s]5 Assignee[s]6 Assigned 7 for all Lenders 8 Assigned  Advances 9 Number                               $              $                     %                                        $              $                     %                                        $              $                     %             [7.   Trade Date:       ______________]10                                       [Page break]                                                      5 List each Assignor, as appropriate.   6 List each Assignee, as appropriate.   7 Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being        assigned under this Assignment (e.g., “Revolving Credit Commitment,” “Letter of Credit        Commitment,” etc.)   8 Amount to be adjusted by the counterparties to take into account any payments or prepayments made        between the Trade Date and the Effective Date.   9 Set forth, to at least 9 decimals, as a percentage of the Commitment/Advances of all Lenders thereunder.   10 To be completed if the Assignor(s) and the Assignee(s) intend that the minimum assignment amount is to        be determined as of the Trade Date.   NYDOCS02/1188161  

 

                                      -3-                                                                                        Assignment Effective Date:   _____________ ___, 20___ [TO BE INSERTED BY AGENT AND WHICH  SHALL  BE  THE  EFFECTIVE  DATE  OF  RECORDATION  OF  TRANSFER  IN  THE  REGISTER  THEREFOR.]    The terms set forth in this Assignment and Assumption are hereby agreed to:                                              ASSIGNOR[S]11                                            [NAME OF ASSIGNOR]                                                                                                                                    By:______________________________                                               Title:                                                                                        [NAME OF ASSIGNOR]                                                                                                                                    By:______________________________                                               Title:                                                                                        ASSIGNEE[S]12                                            [NAME OF ASSIGNEE]                                                                                                                                    By:______________________________                                               Title:                                                                                                                                    [NAME OF ASSIGNEE]                                                                                                                                    By:______________________________                                               Title:                                              [Consented to and]13 Accepted:    CITIBANK, N.A., as     Agent      By: _________________________________    Title:                                                     11 Add additional signature blocks as needed. Include both Fund/Pension Plan and manager making the        trade (if applicable).   12 Add additional signature blocks as needed. Include both Fund/Pension Plan and manager making the        trade (if applicable).   13 To be added only if the consent of the Agent is required by the terms of the Credit Agreement.   NYDOCS02/1188161  

 

                                      -4-    [Consented to:]14     [NAME OF RELEVANT PARTY]      By: ________________________________    Title:                                                        14 To be added only if the consent of the Borrower and/or other parties (e.g. Swing Line Bank, Issuing        Bank) is required by the terms of the Credit Agreement.     NYDOCS02/1188161  

 

                                                                                                                ANNEX 1                           GATX Corporation Credit Agreement                        STANDARD TERMS AND CONDITIONS FOR                          ASSIGNMENT AND ASSUMPTION                1.    Representations and Warranties.                  1.1   Assignor[s].  [The][Each] Assignor (a) represents and warrants that (i) it is the  legal and beneficial owner of [the][the  relevant] Assigned  Interest, (ii) [the][such] Assigned  Interest is  free and clear of any lien, encumbrance or other adverse claim created by [the][such] Assignor, (iii) it has  full power and authority, and has taken all action necessary, to execute and deliver this Assignment and  Assumption  and  to  consummate  the  transactions  contemplated  hereby  and  (iv)  it  is  [not]  a  Defaulting  Lender; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations  made in or in connection with the Credit Agreement, (ii) the execution, legality, validity, enforceability,  genuineness, sufficiency or value of the Credit Agreement or any collateral thereunder, (iii) the financial  condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in respect of  the Credit Agreement, or (iv) the performance or observance by the Borrower, any of its Subsidiaries or  Affiliates or any other Person of any of their respective obligations under the Credit Agreement.               1.2.  Assignee[s].  [The][Each] Assignee (a) represents and warrants that (i) it has full  power  and  authority,  and  has  taken  all  action  necessary,  to  execute  and  deliver  this  Assignment  and  Assumption and to consummate the transactions contemplated hereby and to become a Lender under the  Credit Agreement, (ii) it meets all the requirements to be an assignee under Section 8.07(b)(iii), (v) and  (vi)  of  the  Credit  Agreement  (subject  to  such  consents,  if  any,  as  may  be  required  under  Section  8.07(b)(iii) of the Credit Agreement), (iii) from and after the Assignment Effective Date, it shall be bound  by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of [the][the relevant]  Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to  decisions to acquire assets of the type represented by the [relevant] Assigned Interest and either it, or the  Person  exercising  discretion  in  making  its  decision  to  acquire  the  Assigned  Interest,  is  experienced  in  acquiring assets of such type, (v) it has received a copy of the Credit Agreement, and has received or has  been  accorded  the  opportunity  to  receive  copies  of  the  most  recent  financial  statements  referred  to  in  Section  4.01(d)  thereof  or  delivered  pursuant to  Section  5.01(a)  thereof,  as  applicable,  and  such  other  documents and information as it deems appropriate to make its own credit analysis and decision to enter  into  this  Assignment  and  Assumption  and  to  purchase  [the][such]  Assigned Interest,  (vi)  it  has,  independently and without reliance upon the Agent or any other Lender and based on such documents and  information  as  it  has  deemed  appropriate,  made  its  own  credit  analysis  and  decision to  enter  into  this  Assignment  and  Assumption  and  to  purchase  [the][such]  Assigned  Interest,  (vii)  it  will  not  be  a  Defaulting  Lender  immediately  after  such  assignment,  (viii)  if  it  is  a  Foreign  Lender,  attached  to  this  Assignment and Assumption is any documentation required to be delivered by it pursuant to the terms of  the Credit Agreement, duly completed and executed by [the][such] Assignee and (ix) if it is an Affiliate of  a Lender, either the Borrower consents or is deemed to have consented to such assignment or it will not  fund  any  portion  of  any  Advance  with  the  plan  assets  of  any  “employee  benefit  plan”  (as  defined  by  Section  3(3)  of  ERISA)  that  is  subject  to  Title  I  of  ERISA,  or  any  “plan”  defined  by  and  subject  to  Section 4975 of the Code if it would cause the Borrower to incur any prohibited transaction excise tax  penalties  under  Section  4975  of  the  Code;  and  (b)  agrees  that  (i)  it  will,  independently  and  without  reliance  on  the  Agent,  [the][any]  Assignor  or  any  other  Lender,  and  based  on  such  documents  and  information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or  not taking action under the Credit Agreement, and (ii) it will perform in accordance with their terms all of    NYDOCS02/1188161  

 

                                     -2-   the  obligations  which  by  the  terms  of  the  Credit  Agreement  are  required  to  be  performed  by  it  as  a  Lender.               2.    Payments.  From and after the Assignment Effective Date, the Agent shall make  all payments in respect of [the][each] Assigned Interest (including payments of principal, interest, fees  and  other amounts) to [the][the relevant] Assignee whether such amounts have accrued prior to, on or  after  the Assignment  Effective Date.  The Assignor[s]  and  the  Assignee[s]  shall  make  all  appropriate  adjustments in payments by the Agent for periods prior to the Assignment Effective Date or with respect  to the making of this assignment directly between themselves.               3.    General  Provisions.   This  Assignment  and  Assumption  shall  be  binding  upon,  and  inure  to  the  benefit  of,  the  parties  hereto  and  their  respective  successors  and  assigns.   This  Assignment  and  Assumption  may  be  executed  in  any  number  of  counterparts,  which  together  shall  constitute one instrument.  Delivery of an executed counterpart of a signature page of this Assignment  and  Assumption by  telecopy  shall  be  effective  as  delivery  of a  manually  executed  counterpart  of  this  Assignment and Assumption.  This Assignment and Assumption shall be governed by, and construed in  accordance with, the law of the State of New York.       NYDOCS02/1188161  

 

                                                                                                      EXHIBIT D - FORM OF                                                            OPINION OF COUNSEL                                                             FOR THE BORROWER                                                                                           i  NYDOCS02/1188161EX-10.1

 Exhibit 10.1 

VISTRA ENERGY CORP. 
  

 
 2016 OMNIBUS
INCENTIVE PLAN 
 Amended and Restated May 20, 2019 

 
  

ARTICLE I 
 PURPOSE

 The purpose of this Vistra Energy Corp. 2016 Omnibus Incentive Plan is to enhance the profitability and value of the Company for the
benefit of its stockholders by enabling the Company to offer Eligible Individuals cash and stock-based incentives in order to attract, retain and reward such individuals and strengthen the mutuality of
interests between such individuals and the Company’s stockholders. The Plan was originally effective as of the date set forth in Article XIV (the “Original Plan”), was subsequently amended and restated effective as of
January 1, 2017, and February 26, 2019 (such amended and restated Plans, the “Amended Plans,” and, collectively with the Original Plan, the “Prior Plan”) and is hereby amended and restated effective as of
May 20, 2019. 
 ARTICLE II 

DEFINITIONS 
 For purposes
of the Plan, the following terms shall have the following meanings: 

2.1        “Affiliate” means each of the
following: (a) any Subsidiary; (b) any Parent; (c) any corporation, trade or business (including, without limitation, a partnership or limited liability company) which is directly or indirectly controlled 50% or more (whether by
ownership of stock, assets or an equivalent ownership interest or voting interest) by the Company or one of its Affiliates; (d) any trade or business (including, without limitation, a partnership or limited liability company) which directly or
indirectly controls 50% or more (whether by ownership of stock, assets or an equivalent ownership interest or voting interest) of the Company; and (e) any other entity in which the Company or any of its Affiliates has a material equity interest
and which is designated as an “Affiliate” by resolution of the Committee; provided that, unless otherwise determined by the Committee, the Common Stock subject to any Option constitutes “service recipient stock” for purposes of
Section 409A of the Code or otherwise does not subject the Option to Section 409A of the Code. 

2.2        “Award” means any award under the Plan of any Stock
Option, Restricted Stock Award, Performance Award, Other Stock-Based Award or Other Cash-Based Award. All Awards shall be granted by, confirmed by, and subject to the terms of an Award Agreement executed by the Company and the Participant. 

 2.3        “Award Agreement”
means the written or electronic agreement setting forth the terms and conditions applicable to an Award. 

2.4        “Board” means the Board of Directors of the Company.

 2.5        “Cause” means, unless otherwise determined by
the Committee in the applicable Award Agreement, with respect to a Participant’s Termination of Employment or Termination of Consultancy, the following: (a) in the case where there is no employment agreement, consulting agreement, change
in control agreement or similar agreement in effect between the Company or an Affiliate and the Participant at the time of the grant of the Award (or where there is such an agreement but it does not define “cause” (or words of like
import)), termination due to a Participant’s: (i) willful and continued failure to perform Participant’s duties with the Company; (ii) willful and continued failure to follow and comply with the written policies of the Company as
in effect from time to time; (iii) willful commission of an act of fraud or dishonesty resulting in economic or financial injury to the Company; (iv) willful engagement in illegal conduct or gross misconduct; (v) willful breach of any
agreement with the Company or an Affiliate; or (vi) indictment for, conviction of, or a plea of guilty or nolo contendere to any felony or other crime involving moral turpitude. No act or failure to act will be treated as willful if it is done,
or omitted to be done, by the Participant in good faith and with a good faith belief that such act or omission was in the best interests of the Company; or (b) in the case where there is an employment agreement, consulting agreement, change in
control agreement or similar agreement in effect between the Company or an Affiliate and the Participant at the time of the grant of the Award that defines “cause” (or words of like import), “cause” as defined under such
agreement; provided, however, that with regard to any agreement under which the definition of “cause” only applies on occurrence of a change in control, such definition of “cause” shall not apply until a change in control
actually takes place and then only with regard to a Termination thereafter. With respect to a Participant’s Termination of Directorship, “cause” means an act or failure to act that constitutes cause for removal of a director under
applicable Delaware law.  
 2.6        “Change in
Control” has the meaning set forth in Section 10.2. 

2.7        “Change in Control Price” has the meaning set forth
in Section 10.1. 
 2.8        “Code” means the Internal
Revenue Code of 1986, as amended. Any reference to any section of the Code shall also be a reference to any successor provision and any Treasury Regulation and other official guidance and regulations promulgated thereunder. 

2.9        “Committee” means any committee of the Board duly
authorized by the Board to administer the Plan. If no committee is duly authorized by the Board to administer the Plan, the term “Committee” shall be deemed to refer to the Board for all purposes under the Plan. 

2.10        “Common Stock” means the common stock, $0.01 par
value per share, of the Company. 

2.11        “Company” means Vistra Energy Corp., a Delaware
corporation, and its successors by operation of law. 

2.12        “Consultant” means any natural person who is an
advisor or consultant to the Company or its Affiliates. 

2.13        “Disability” means, unless otherwise determined by
the Committee in the applicable Award Agreement, with respect to a Participant’s Termination, a permanent and total disability as defined in Section 22(e)(3) of the Code. A Disability shall only be deemed to occur at the time of the
determination by the Committee of the Disability. Notwithstanding the foregoing, for Awards that are subject to Section 409A of the Code, Disability shall mean that a Participant is disabled under Section 409A(a)(2)(C)(i) or (ii) of
the Code. 
 2.14        “Effective Date” means the
effective date of the Plan as defined in Article XIV. 
 2.15        “Eligible
Employees” means each employee of the Company or an Affiliate. 

2.16        “Eligible Individual” means an Eligible
Employee, Non-Employee Director or Consultant who is designated by the Committee in its discretion as eligible to receive Awards subject to the conditions set forth herein. 

2.17        “Exchange Act” means the Securities Exchange Act of
1934, as amended. Reference to a specific section of the Exchange Act or regulation thereunder shall include such section or regulation, any valid regulation or interpretation promulgated under such section, and any comparable provision of any
future legislation or regulation amending, supplementing or superseding such section or regulation. 

2.18        “Fair Market Value” means, for purposes of
the Plan, unless otherwise provided in an Award Agreement or as required by any applicable provision of the Code or any regulations issued thereunder, as of any date and except as provided below: (a) if the Common Stock is traded, listed or
otherwise reported or quoted on a national securities exchange, the last sales price reported for the Common Stock on the applicable date on the principal national securities exchange in the United States on which it is then traded, listed or
otherwise reported or quoted; or (b) if the Common Stock is not traded, listed or otherwise reported or quoted on a national securities exchange, the Committee shall determine in good faith the Fair Market Value in whatever manner it considers
appropriate, taking into account the requirements of Section 409A of the Code and any other applicable laws, rules or regulations. For purposes of the grant of any Award, the applicable date shall be the trading day immediately prior to the
date on which the Award is granted. For purposes of the exercise of any Award, the applicable date shall be the date a notice of exercise is received by the Committee or, if not a day on which the applicable market is open, the next day that it is
open. 
 2.19        “Family Member” means “family
member” as defined in Section A.1.(a)(5) of the general instructions of Form S-8 of the United States Securities and Exchange Commission. 

 2.20        “Good
Reason” means, unless otherwise determined by the Committee in the applicable Award Agreement, the following: (a) in the case where there is no employment agreement, consulting agreement, change in control agreement or
similar agreement in effect between the Company or an Affiliate and the Participant at the time of the grant of the Award (or where there is such an agreement but it does not define “good reason” (or words of like import)), the occurrence,
without the Participant’s consent, of either of the following events: (i) any material diminution of the Participant’s title, duties, responsibilities or authorities; or (ii) any breach by the Company or the employing Affiliate,
as applicable, of any of its material obligations to the Participant. Prior to resigning for Good Reason, the Participant shall give written notice to the Company or the employing Affiliate, as applicable, of the facts and circumstances claimed to
provide a basis for such resignation not more than sixty (60) days following the date on which the Participant first has knowledge of such facts and circumstances, and the Company or the employing Affiliate, as applicable, shall have ten
(10) business days after receipt of such notice to cure (and if so cured, the Participant shall not be permitted to resign for Good Reason in respect thereof), and the Participant shall resign within ten (10) business days following the
Company’s or the employing Affiliate’s, as applicable, failure to cure; or (b) in the case where there is an employment agreement, consulting agreement, change in control agreement or similar agreement in effect between the Company or
an Affiliate and the Participant at the time of the grant of the Award that defines “good reason” (or words of like import), “good reason” as defined under such agreement; provided, however, that with regard to any agreement
under which the definition of “good reason” only applies on occurrence of a change in control, such definition of “good reason” shall not apply until a change in control actually takes place and then only with regard to a
Termination thereafter. 
 2.21        “Incentive Stock
Option” means any Stock Option awarded to an Eligible Employee of the Company or its Subsidiaries or Parents (if any) under the Plan and intended to be and designated as an “Incentive Stock Option” within the meaning of
Section 422 of the Code. 
 2.22        “Lead Underwriter”
has the meaning set forth in Section 13.20. 
 2.23        “Lock-Up Period” has the meaning set forth in Section 13.20. 

2.24        “Non-Employee
Director” means a director or a member of the Board, or the board of directors of any Affiliate, who is not an active employee of the Company or any Affiliate. 

2.25        “Non-Qualified Stock
Option” means any Stock Option awarded under the Plan that is not an Incentive Stock Option. 

2.26        “Other Cash-Based Award” means an Award granted
pursuant to Section 9.3 of the Plan and payable in cash at such time or times and subject to such terms and conditions as determined by the Committee in its sole discretion. 

2.27        “Other Stock-Based Award” means an Award under
Article IX of the Plan that is valued in whole or in part by reference to, or is payable in or otherwise based on, Common Stock, including, without limitation, an Award valued by reference to an Affiliate. 

2.28        “Parent” means any parent corporation of the Company
within the meaning of Section 424(e) of the Code. 

2.29        “Participant” means an Eligible Individual to whom
an Award has been granted pursuant to the Plan. 

 2.30        “Performance
Award” means an Award granted to a Participant pursuant to Article VIII hereof contingent upon achieving certain Performance Goals. 

2.31        “Performance Goals” means goals established
by the Committee as contingencies for Awards to vest and/or become exercisable or distributable, which goals may include one or more of the performance goals set forth in Exhibit A hereto. 

2.32        “Performance Period” means the designated
period during which the Performance Goals must be satisfied with respect to the Award to which the Performance Goals relate. 

2.33        “Plan” means this Vistra Energy Corp. 2016 Omnibus
Incentive Plan, as amended or amended and restated from time to time. 

2.34        “Proceeding” has the meaning set forth in
Section 13.9. 
 2.35        “Reorganization” has the
meaning set forth in Section 4.3(b)(ii). 
 2.36        “Restricted
Stock” means an Award of shares of Common Stock under the Plan that is subject to restrictions under Article VII. 

2.37        “Restriction Period” has the meaning set forth in
Section 7.3(a) with respect to Restricted Stock. 
 2.38        “Rule 16b-3” means Rule 16b-3 under Section 16(b) of the Exchange Act as then in effect or any successor provision. 

2.39        “Section 162(m) of the
Code” means the exception for performance-based compensation under Section 162(m) of the Code and any applicable Treasury Regulations thereunder. 

2.40        “Section 409A of the
Code” means the nonqualified deferred compensation rules under Section 409A of the Code and any applicable Treasury Regulations and other official guidance thereunder. 

2.41        “Securities Act” means the Securities Act of
1933, as amended and all rules and regulations promulgated thereunder. Reference to a specific section of the Securities Act or regulation thereunder shall include such section or regulation, any valid regulation or interpretation promulgated under
such section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such section or regulation. 

2.42        “Stock Option” or
“Option” means any option to purchase shares of Common Stock granted to Eligible Individuals granted pursuant to Article VI. 

2.43        “Subsidiary” means any subsidiary corporation of the
Company within the meaning of Section 424(f) of the Code. 

 2.44        “Ten Percent
Stockholder” means a person owning stock possessing more than 10% of the total combined voting power of all classes of stock of the Company, its Subsidiaries or its Parent. 

2.45        “Termination” means a Termination of Consultancy,
Termination of Directorship or Termination of Employment, as applicable. 

2.46        “Termination of Consultancy” means: (a) that
the Consultant is no longer acting as a consultant to the Company or any of its Affiliates; or (b) when an entity (other than the Company) which is retaining a Participant as a Consultant ceases to be an Affiliate, unless the Participant
otherwise is, or thereupon becomes, a Consultant to the Company or another Affiliate at the time the entity ceases to be an Affiliate. In the event that a Consultant becomes an Eligible Employee or a
Non-Employee Director upon the termination of such Consultant’s consultancy, unless otherwise determined by the Committee, in its sole discretion, no Termination of Consultancy shall be deemed to occur
until such time as such Consultant is no longer a Consultant, an Eligible Employee or a Non-Employee Director. Notwithstanding the foregoing, the Committee may otherwise define Termination of Consultancy in
the Award Agreement or, if no rights of a Participant are reduced, may otherwise define Termination of Consultancy thereafter, provided that any such change to the definition of the term “Termination of Consultancy” does not subject
the applicable Award to Section 409A of the Code. 

2.47        “Termination of Directorship” means:
(a) that the Non-Employee Director has ceased to be a director of the Company or any of its Affiliates; or (b) when an entity (other than the Company) for which the Participant is serving as a Non-Employee Director ceases to be an Affiliate, unless the Participant otherwise is, or thereupon becomes, a Non-Employee Director of the Company or another Affiliate at the
time the entity ceases to be an Affiliate. In the event that a Non-Employee Director becomes an Eligible Employee or a Consultant upon the termination of such
Non-Employee Director’s directorship, unless otherwise determined by the Committee, in its sole discretion, such Non-Employee Director’s ceasing to be a
director of the Company or an Affiliate shall not be treated as a Termination of Directorship, unless and until the Participant has a Termination of Employment or Termination of Consultancy, as the case may be. 

2.48        “Termination of Employment” means: (a) a
termination of employment (for reasons other than a military or personal leave of absence granted by the Company) of a Participant from the Company and all of its Affiliates; or (b) when an entity (other than the Company) which is employing a
Participant ceases to be an Affiliate, unless the Participant otherwise is, or thereupon becomes, employed by the Company or another Affiliate at the time the entity ceases to be an Affiliate. In the event that an Eligible Employee becomes a
Consultant or a Non-Employee Director upon the termination of such Eligible Employee’s employment, unless otherwise determined by the Committee, in its sole discretion, no Termination of Employment shall
be deemed to occur until such time as such Eligible Employee is no longer an Eligible Employee, a Consultant or a Non-Employee Director. Notwithstanding the foregoing, the Committee may otherwise define
Termination of Employment in the Award Agreement or, if no rights of a Participant are reduced, may otherwise define Termination of Employment thereafter, provided that any such change to the definition of the term “Termination of
Employment” does not subject the applicable Award to Section 409A of the Code. 

2.49        “Transfer” means: (a) when used as a noun, any
direct or indirect transfer, sale, assignment, pledge, hypothecation, encumbrance or other disposition (including the issuance of equity in any entity), whether for value or no value and whether voluntary or involuntary (including by operation of
law), and (b) when used as a verb, to directly or indirectly transfer, sell, assign, pledge, encumber, charge, hypothecate or otherwise dispose of (including the issuance of equity in any entity) whether for value or for no value and whether
voluntarily or involuntarily (including by operation of law). “Transferred” and “Transferable” shall have a correlative meaning. 

ARTICLE III 

ADMINISTRATION 

3.1        The Committee.    The Plan shall be
administered and interpreted by the Committee. To the extent required by applicable law, rule or regulation, it is intended that each member of the Committee shall qualify as (a) a “non-employee
director” under Rule 16b-3 and (b) an “independent director” under the rules of any national securities exchange or national securities association, as applicable. Notwithstanding the
foregoing, for purposes of any Award granted under the Prior Plan that is intended to constitute “qualified performance-based compensation” under Section 162(m) of the Code, each member of the Committee shall also be an “outside
director” within the meaning of Section 162(m) of the Code for purposes of certifying the extent to which any applicable performance-based conditions are achieved. If it is later determined that one or more members of the Committee do not
so qualify, actions taken by the Committee prior to such determination shall be valid despite such failure to qualify. 

3.2        Grants of Awards.    The Committee shall have full
authority to grant, pursuant to the terms of the Plan, to Eligible Individuals: (i) Stock Options, (ii) Restricted Stock, (iii) Performance Awards; (iv) Other Stock-Based Awards; and (v) Other Cash-Based Awards. In
particular, the Committee shall have the authority: 
 (a)        to select the Eligible Individuals
to whom Awards may from time to time be granted hereunder; 
 (b)        to determine whether and to
what extent Awards, or any combination thereof, are to be granted hereunder to one or more Eligible Individuals; 

(c)        to determine the number of shares of Common Stock to be covered by each Award granted
hereunder; 
 (d)        to determine the terms and conditions, not inconsistent with the terms of
the Plan, of any Award granted hereunder (including, but not limited to, the exercise or purchase price (if any), any restriction or limitation, any vesting schedule or acceleration thereof, or any forfeiture restrictions or waiver thereof,
regarding any Award and the shares of Common Stock relating thereto, based on such factors, if any, as the Committee shall determine, in its sole discretion); provided that no Award will vest in the ordinary course until at least the first
anniversary of the grant date applicable to such Award (the “Minimum Vesting Requirement”), except that up to 5% of the Share Reserve may be used to grant Awards which do not meet the Minimum Vesting Requirement; 

 (e)        to determine the amount of cash to be
covered by each Award granted hereunder; 
 (f)        to determine whether, to what extent and
under what circumstances grants of Options and other Awards under the Plan are to operate on a tandem basis and/or in conjunction with or apart from other awards made by the Company outside of the Plan; 

(g)        to determine whether and under what circumstances a Stock Option may be settled in cash,
Common Stock and/or Restricted Stock under Section 6.4(d); 
 (h)        to determine whether a
Stock Option is an Incentive Stock Option or Non-Qualified Stock Option; 

(i)        to impose a “blackout” period during which Options may not be exercised; 

(j)        to determine whether to require a Participant, as a condition of the granting of any Award,
not to sell or otherwise dispose of shares of Common Stock acquired pursuant to the exercise of an Award for a period of time as determined by the Committee, in its sole discretion, following the date of the acquisition of such Award; and 

(k)        to amend the terms of any Award either prospectively or retroactively, subject to
Section 6.4(l) hereof and provided that such action does not subject the Award to Section 409A of the Code without the consent of the Participant. 

For the sake of clarity and to the extent permitted by applicable law, the Board or the Committee may delegate to an officer of the Company the authority to
make Awards hereunder. 
 3.3        Guidelines.    Subject
to Article XI hereof, the Committee shall have the authority to adopt, alter and repeal such administrative rules, guidelines and practices governing the Plan and perform all acts, including the delegation of its responsibilities (to the extent
permitted by applicable law and applicable stock exchange rules), as it shall, from time to time, deem advisable; to construe and interpret the terms and provisions of the Plan and any Award issued under the Plan (and any Award Agreements relating
thereto); and to otherwise supervise the administration of the Plan. The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any agreement relating thereto in the manner and to the extent it shall
deem necessary to effectuate the purpose and intent of the Plan. The Committee may adopt special guidelines and provisions for persons who are residing in or employed in, or subject to, the taxes of, any domestic or foreign jurisdictions to comply
with applicable tax and securities laws of such domestic or foreign jurisdictions. Notwithstanding the foregoing, no action of the Committee under this Section 3.3 shall impair the rights of any Participant without the Participant’s
consent. To the extent applicable, the Plan is intended to comply with the applicable requirements of Rule 16b-3, and the Plan shall be limited, construed and interpreted in a manner so as to comply therewith.

 3.4        Decisions Final.    Any decision,
interpretation or other action made or taken in good faith by or at the direction of the Company, the Board or the Committee (or any of its members) arising out of or in connection with the Plan shall be within the absolute discretion of all and
each of them, as the case may be, and shall be final, binding and conclusive on the Company and all Participants and their respective heirs, executors, administrators, successors and assigns. 

 3.5        Designation of
Consultants/Liability. 
 (a)        The Committee may designate employees of the Company
and professional advisors to assist the Committee in the administration of the Plan and (to the extent permitted by applicable law and applicable exchange rules) may grant authority to officers to grant Awards and/or execute agreements or other
documents on behalf of the Committee. 
 (b)        The Committee may employ such legal counsel,
consultants and agents as it may deem desirable for the administration of the Plan and may rely upon any opinion received from any such counsel or consultant and any computation received from any such consultant or agent. Expenses incurred by the
Committee or the Board in the engagement of any such counsel, consultant or agent shall be paid by the Company. The Committee, its members and any person designated or granted authority pursuant to sub-section
(a) above shall not be liable for any action or determination made in good faith with respect to the Plan. To the maximum extent permitted by applicable law, no officer or employee of the Company or its Affiliates or member or former member of
the Committee or of the Board shall be liable for any action or determination made in good faith with respect to the Plan or any Award granted under it. 

ARTICLE IV 
 SHARE
LIMITATION 
 4.1        Shares. 

4.2        The aggregate number of shares of Common Stock that may be issued or used for
reference purposes or with respect to which Awards may be granted under the Plan shall not exceed 37,500,000 shares (subject to any increase or decrease pursuant to Section 4.3) (the “Share Reserve”), which may be either
authorized and unissued Common Stock or Common Stock held in or acquired for the treasury of the Company or both. 

(a)        The maximum number of shares of Common Stock with respect to which Incentive Stock Options
may be granted under the Plan shall be equal to the Share Reserve. 
 (b)        If any Option or
Other Stock-Based Award granted under the Plan expires, terminates or is canceled for any reason without having been exercised in full, the number of shares of Common Stock underlying any unexercised Award shall again be available for the purpose of
Awards under the Plan. 
 (c)        If any shares of Restricted Stock, Performance Awards or Other
Stock-Based Awards denominated in shares of Common Stock awarded under the Plan to a Participant are forfeited for any reason, the number of forfeited shares of Restricted Stock, Performance Awards or Other Stock-Based Awards denominated in shares
of Common Stock shall again be available for purposes of Awards under the Plan. 
 (d)        The
maximum grant date fair value of all Awards granted to any individual for his or her services as a director during any calendar year shall not exceed $750,000. 

 (e)        Notwithstanding anything to the contrary
contained in the Plan, shares of Common Stock (i) withheld by the Company, tendered or otherwise used (A) in payment of the exercise price of a Stock Option or (B) to satisfy tax withholding in connection with the exercise or
settlement of an Award will not be added (or added back, as applicable) to the aggregate number of shares of Common Stock available in the Share Reserve; and (ii) reacquired by the Company on the open market or otherwise using cash proceeds
from the exercise of a Stock Option will not be added (or added back, as applicable) to the aggregate number of shares of Common Stock available in the Share Reserve. 

4.3    Changes. 

(a)        The existence of the Plan and the Awards granted hereunder shall not affect in any way the
right or power of the Board or the stockholders of the Company to make or authorize (i) any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or its business, (ii) any merger or
consolidation of the Company or any Affiliate, (iii) any issuance of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock, (iv) the dissolution or liquidation of the Company or any Affiliate,
(v) any sale or transfer of all or part of the assets or business of the Company or any Affiliate or (vi) any other corporate act or proceeding. 

(b)        Subject to the provisions of Section 10.1: 

(i)        If the Company at any time subdivides (by any split, recapitalization or otherwise) the
outstanding Common Stock into a greater number of shares of Common Stock, or combines (by reverse split, combination or otherwise) its outstanding Common Stock into a lesser number of shares of Common Stock, then the respective exercise prices for
outstanding Awards that provide for a Participant elected exercise and the number of shares of Common Stock covered by outstanding Awards shall be appropriately adjusted by the Committee to prevent dilution or enlargement of the rights granted to,
or available for, Participants under the Plan. 
 (ii)        Excepting transactions covered by
Section 4.3(b)(i), if the Company effects any merger, consolidation, statutory exchange, spin-off, reorganization, sale or transfer of all or substantially all the Company’s assets or business, or
other corporate transaction or event in such a manner that the Company’s outstanding shares of Common Stock are converted into the right to receive (or the holders of Common Stock are entitled to receive in exchange therefor), either
immediately or upon liquidation of the Company, securities or other property of the Company or other entity (each, a “Reorganization”), then, subject to the provisions of Section 10.1, (A) the
aggregate number or kind of securities that thereafter may be issued under the Plan, (B) the number or kind of securities or other property (including cash) to be issued pursuant to Awards granted under the Plan (including as a result of the
assumption of the Plan and the obligations hereunder by a successor entity, as applicable), or (C) the purchase price thereof, shall be appropriately adjusted by the Committee to prevent dilution or enlargement of the rights granted to, or
available for, Participants under the Plan. 

 (iii)        If there shall occur any change in the
capital structure of the Company other than those covered by Section 4.3(b)(i) or 4.3(b)(ii), including by reason of any extraordinary dividend (whether cash or equity), any conversion, any adjustment, any issuance of any class of securities
convertible or exercisable into, or exercisable for, any class of equity securities of the Company, then the Committee shall adjust any Award and make such other adjustments to the Plan to prevent dilution or enlargement of the rights granted to, or
available for, Participants under the Plan. 
 (iv)        Any such adjustment determined by the
Committee pursuant to this Section 4.3(b) shall be final, binding and conclusive on the Company and all Participants and their respective heirs, executors, administrators, successors and permitted assigns. Any adjustment to, or assumption or
substitution of, an Award under this Section 4.3(b) shall be intended to comply with the requirements of Section 409A of the Code and Treasury Regulation §1.424-1 (and any amendments thereto),
to the extent applicable. Except as expressly provided in this Section 4.3 or in the applicable Award Agreement, a Participant shall have no additional rights under the Plan by reason of any transaction or event described in this
Section 4.3. 
 (v)        Fractional shares of Common Stock resulting from any adjustment in
Awards pursuant to Section 4.3(a) or this Section 4.3(b) shall be aggregated until, and eliminated at, the time of exercise or payment by rounding-down for fractions less than one-half and rounding-up for fractions equal to or greater than one-half. No cash settlements shall be required with respect to fractional shares eliminated by rounding. Notice of any
adjustment shall be given by the Committee to each Participant whose Award has been adjusted and such adjustment (whether or not such notice is given) shall be effective and binding for all purposes of the Plan. 

4.4        Minimum Purchase Price. Notwithstanding any provision of the Plan to
the contrary, if authorized but previously unissued shares of Common Stock are issued under the Plan, such shares shall not be issued for a consideration that is less than as permitted under applicable law. 

ARTICLE V 
 ELIGIBILITY

 5.1        General Eligibility.    All current and
prospective Eligible Individuals are eligible to be granted Awards. Eligibility for the grant of Awards and actual participation in the Plan shall be determined by the Committee in its sole discretion. 

5.2        Incentive Stock Options.    Notwithstanding the
foregoing, only Eligible Employees of the Company, its Subsidiaries and its Parent (if any) are eligible to be granted Incentive Stock Options under the Plan. Eligibility for the grant of an Incentive Stock Option and actual participation in the
Plan shall be determined by the Committee in its sole discretion. 
 5.3        General
Requirement.    The vesting and exercise of Awards granted to a prospective Eligible Individual are conditioned upon such individual actually becoming an Eligible Employee, Consultant or
Non-Employee Director, respectively. 

 ARTICLE VI 

STOCK OPTIONS 

6.1        Options. Stock Options may be granted alone or in addition to other
Awards granted under the Plan. Each Stock Option granted under the Plan shall be of one of two types: (a) an Incentive Stock Option or (b) a Non-Qualified Stock Option. 

6.2        Grants. The Committee shall have the authority to grant to any
Eligible Employee one or more Incentive Stock Options, Non-Qualified Stock Options, or both types of Stock Options, in each case, pursuant to an Award Agreement. The Committee shall have the authority to grant
any Consultant or Non-Employee Director one or more Non-Qualified Stock Options. To the extent that any Stock Option does not qualify as an Incentive Stock Option
(whether because of its provisions or the time or manner of its exercise or otherwise), such Stock Option or the portion thereof which does not so qualify shall constitute a separate Non-Qualified Stock
Option. 
 6.3        Incentive Stock
Options.    Notwithstanding anything in the Plan to the contrary, no term of the Plan relating to Incentive Stock Options shall be interpreted, amended or altered, nor shall any discretion or authority granted under the
Plan be so exercised, so as to disqualify the Plan under Section 422 of the Code, or, without the consent of the Participants affected, to disqualify any Incentive Stock Option under such Section 422. 

6.4        Terms of Options.    Options granted under the
Plan shall be subject to the following terms and conditions and shall be in such form and contain such additional terms and conditions, not inconsistent with the terms of the Plan, as the Committee shall deem desirable, including those set forth in
an Award Agreement: 
 (a)        Exercise Price. The exercise price per share of Common
Stock subject to a Stock Option shall be determined by the Committee at the time of grant, provided that the per share exercise price of a Stock Option shall not be less than 100% (or, in the case of an Incentive Stock Option granted to a Ten
Percent Stockholder, 110%) of the Fair Market Value of the Common Stock at the time of grant. 

(b)        Stock Option Term. The term of each Stock Option shall be fixed by the Committee,
provided that no Stock Option shall be exercisable more than 10 years after the date the Option is granted; and provided further that the term of an Incentive Stock Option granted to a Ten Percent Stockholder shall not exceed five years. 

(c)        Exercisability. Unless otherwise provided by the Committee in accordance with the
provisions of this Section 6.4, Stock Options granted under the Plan shall be exercisable at such time or times and subject to such terms and conditions as shall be determined by the Committee at the time of grant. If the Committee provides, in
its discretion, that any Stock Option is exercisable subject to certain limitations (including, without limitation, that such Stock Option is exercisable only in installments or within certain time periods), the Committee may waive such limitations
on the exercisability at any time at or after the time of grant in whole or in part (including, without limitation, waiver of the installment exercise provisions or acceleration of the time at which such Stock Option may be exercised), based on such
factors, if any, as the Committee shall determine, in its sole discretion. 

 (d)        Method of Exercise. Subject to
whatever installment exercise and waiting period provisions apply under Section 6.4(c), to the extent vested, Stock Options may be exercised in whole or in part at any time during the Option term, by giving written notice of exercise to the
Company (or to its agent specifically designated for such purpose) specifying the number of shares of Common Stock to be purchased (which notice may be provided in an electronic form to the extent acceptable to the Committee and the Company). Such
notice shall be accompanied by payment in full of the purchase price as follows: (i) in cash or by check, bank draft or money order payable to the order of the Company; (ii) solely to the extent permitted by applicable law, if the Common
Stock is traded on a national securities exchange, and the Committee authorizes, through a procedure whereby the Participant delivers irrevocable instructions to a broker reasonably acceptable to the Committee to deliver promptly to the Company
shares of Common Stock with an aggregate value equal to the purchase price; (iii) by having the Company withhold shares of Common Stock issuable upon exercise of the Stock Option; or (iv) on such other terms and conditions as may be
acceptable to the Committee (including, without limitation, with the consent of the Committee, by payment in full or in part in the form of Common Stock owned by the Participant, based on the Fair Market Value of the Common Stock on the payment date
as determined by the Committee). No shares of Common Stock shall be issued until payment therefor, as provided herein, has been made or provided for. 

(e)        Non-Transferability of Options. No Stock
Option shall be Transferable by the Participant other than by will or by the laws of descent and distribution, and all Stock Options shall be exercisable, during the Participant’s lifetime, only by the Participant. Notwithstanding the
foregoing, the Committee may determine, in its sole discretion, at the time of grant or thereafter that a Non-Qualified Stock Option that is otherwise not Transferable pursuant to this Section is Transferable
to a Family Member in whole or in part and in such circumstances, and under such conditions, as specified by the Committee. A Non-Qualified Stock Option that is Transferred to a Family Member pursuant to the
preceding sentence (i) may not be subsequently Transferred other than by will or by the laws of descent and distribution; (ii) remains subject to the terms of the Plan and the applicable Award Agreement; and (iii) may be exercised by
such Family Member. Any shares of Common Stock acquired upon the exercise of a Non-Qualified Stock Option by a permissible transferee of a Non-Qualified Stock Option or
a permissible transferee pursuant to a Transfer after the exercise of the Non-Qualified Stock Option shall be subject to the terms of the Plan and the applicable Award Agreement. 

(f)        Termination by Death or Disability. Unless otherwise determined by the Committee at
the time of grant, or if no rights of the Participant are reduced, thereafter, if a Participant’s Termination is by reason of death or Disability, all Stock Options that are held by such Participant that are vested and exercisable at the time
of the Participant’s Termination may be exercised by the Participant (or in the case of the Participant’s death, by the legal representative of the Participant’s estate) at any time within a period of one (1) year from the date
of such Termination, but in no event beyond the expiration of the stated term of such Stock Options; provided, however, that, in the event of a Participant’s Termination by reason of Disability, if the Participant dies within such exercise
period, all unexercised Stock Options held by such Participant shall thereafter be exercisable, to the extent to which they were exercisable at the time of death, for a period of one (1) year from the date of such death, but in no event beyond
the expiration of the stated term of such Stock Options. 

 (g)        Involuntary Termination Without
Cause. Unless otherwise determined by the Committee at the time of grant, or if no rights of the Participant are reduced, thereafter, if a Participant’s Termination is an involuntary Termination by the Company without Cause, all Stock
Options that are held by such Participant that are vested and exercisable at the time of the Participant’s Termination may be exercised by the Participant at any time within a period of ninety (90) days from the date of such Termination,
but in no event beyond the expiration of the stated term of such Stock Options. 

(h)        Voluntary Resignation. Unless otherwise determined by the Committee at the time of
grant, or if no rights of the Participant are reduced, thereafter, if a Participant’s Termination is voluntary (other than a voluntary Termination described in Section 6.4(i)(y) hereof), all Stock Options that are held by such Participant
that are vested and exercisable at the time of the Participant’s Termination may be exercised by the Participant at any time within a period of thirty (30) days from the date of such Termination, but in no event beyond the expiration of
the stated term of such Stock Options. 
 (i)        Termination for Cause. Unless otherwise
determined by the Committee at the time of grant, or if no rights of the Participant are reduced, thereafter, if a Participant’s Termination (x) is for Cause or (y) is a voluntary Termination (as provided in Section 6.4(h)) after
the occurrence of an event that would be grounds for a Termination for Cause, all Stock Options, whether vested or not vested, that are held by such Participant shall thereupon terminate and expire as of the date of such Termination. 

(j)        Unvested Stock Options. Unless otherwise determined by the Committee at the time of
grant, or if no rights of the Participant are reduced, thereafter, Stock Options that are not vested as of the date of a Participant’s Termination for any reason shall terminate and expire as of the date of such Termination. 

(k)        Incentive Stock Option Limitations. To the extent that the aggregate Fair Market
Value (determined as of the time of grant) of the Common Stock with respect to which Incentive Stock Options are exercisable for the first time by an Eligible Employee during any calendar year under the Plan and/or any other stock option plan of the
Company, any Subsidiary or any Parent exceeds $100,000, such Options shall be treated as Non-Qualified Stock Options. In addition, if an Eligible Employee does not remain employed by the Company, any
Subsidiary or any Parent at all times from the time an Incentive Stock Option is granted until three months prior to the date of exercise thereof (or such other period as required by applicable law), such Stock Option shall be treated as a Non-Qualified Stock Option. Should any provision of the Plan not be necessary in order for the Stock Options to qualify as Incentive Stock Options, or should any additional provisions be required, the Committee may
amend the Plan accordingly, without the necessity of obtaining the approval of the stockholders of the Company. 

(l)        Stock Option Repricing. Except in connection with a corporate transaction or event
described in Section 4.3, an outstanding Stock Option may not be modified to reduce the exercise price thereof, nor may an outstanding Stock Option be canceled in exchange for cash, other Awards or a Stock Option with an exercise price that is
less than the exercise price of the original Stock Option, unless the relevant action is approved by the stockholders of the Company. 

 (m)        Other Terms and Conditions. The
Committee may include a provision in an Award Agreement providing for the automatic exercise of a Non-Qualified Stock Option on a cashless basis on the last day of the term of such Option if the Participant
has failed to exercise the Non-Qualified Stock Option as of such date, with respect to which the Fair Market Value of the shares of Common Stock underlying the
Non-Qualified Stock Option exceeds the exercise price of such Non-Qualified Stock Option on the date of expiration of such Option, subject to Section 13.4. Stock
Options may contain such other provisions, which shall not be inconsistent with any of the terms of the Plan, as the Committee shall deem appropriate. The recipient of a Stock Option under this Article VI shall not be entitled to receive, currently
or on a deferred basis, dividends or dividend equivalents in respect of the number of shares of Common Stock covered by the Stock Option. The Company will evidence each Participant’s ownership of Common Stock issued upon exercise of a Stock
Option pursuant to a designated system, such as book entries by the transfer agent; if a stock certificate for such shares of Common Stock is issued, it will be substantially in the form set forth in Section 7.2(c). 

ARTICLE VII 
 RESTRICTED
STOCK 
 7.1        Awards of Restricted
Stock.    Shares of Restricted Stock may be issued either alone or in addition to other Awards granted under the Plan. The Committee shall determine the Eligible Individuals, to whom, and the time or times at which,
grants of Restricted Stock shall be made, the number of shares to be awarded, the price (if any) to be paid by the Participant (subject to Section 7.2), the time or times within which such Awards may be subject to forfeiture, the vesting
schedule and rights to acceleration thereof, and all other terms and conditions of the Awards. 
 The Committee may condition the grant or
vesting of Restricted Stock upon the attainment of specified Performance Goals or such other factors as the Committee may determine in its sole discretion. 

7.2        Awards and Certificates.    If required by the
Award Agreement, Eligible Individuals selected to receive Restricted Stock shall not have any right with respect to such Award, unless and until such Participant has delivered a fully executed copy of the Award Agreement evidencing the Award to the
Company, to the extent required by the Committee, and has otherwise complied with the applicable terms and conditions of such Award. Further, such Award shall be subject to the following conditions: 

(a)        Purchase Price. The purchase price of Restricted Stock shall be fixed by the
Committee. Subject to Section 4.4, the purchase price for shares of Restricted Stock may be zero to the extent permitted by applicable law, and, to the extent not so permitted, such purchase price may not be less than par value. 

(b)        Acceptance. Awards of Restricted Stock must be accepted within a period of 60 days
(or such shorter period as the Committee may specify at grant) after the grant date, by executing a Restricted Stock Award Agreement and by paying whatever price (if any) the Committee has designated thereunder. 

 (c)        Legend. The Company will evidence
each Participant’s ownership of Restricted Stock pursuant to a designated system, such as book entries by the transfer agent. If a stock certificate for such shares of Restricted Stock is issued, such certificate shall be registered in the name
of such Participant, and shall, in addition to such legends required by applicable securities laws, bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Award, substantially in the following form: 

“The anticipation, alienation, attachment, sale, transfer, assignment, pledge, encumbrance or charge of the shares of stock represented
hereby are subject to the terms and conditions (including forfeiture) of the Vistra Energy Corp. (the “Company”) 2016 Omnibus Incentive Plan (the “Plan”) and an Agreement entered into between the registered owner
and the Company dated                         . Copies of such Plan and Agreement are on file at the principal office of
the Company.” 
 (d)        Custody. If stock certificates are issued in respect of
shares of Restricted Stock, the Committee may require that any stock certificates evidencing such shares be held in custody by the Company until the restrictions thereon shall have lapsed, and that, as a condition of any grant of Restricted Stock,
the Participant shall have delivered a duly signed stock power or other instruments of assignment (including a power of attorney), each endorsed in blank with a guarantee of signature if deemed necessary or appropriate by the Company, which would
permit transfer to the Company of all or a portion of the shares subject to the Restricted Stock Award in the event that such Award is forfeited in whole or part or otherwise transferred to the Company. 

7.3        Restrictions and Conditions.    The shares of
Restricted Stock awarded pursuant to the Plan shall be subject to the following restrictions and conditions: 

(a)        Restriction Period.    (i) The Participant shall not be
permitted to Transfer shares of Restricted Stock awarded under the Plan during the period or periods set by the Committee (the “Restriction Period”) commencing on the date of such Award, as set forth in the Restricted Stock Award
Agreement and such agreement shall set forth a vesting schedule and any event that would accelerate vesting of the shares of Restricted Stock. Within these limits, based on service, attainment of Performance Goals pursuant to Section 7.3(a)(ii)
and/or such other factors or criteria as the Committee may determine in its sole discretion, the Committee may condition the grant or provide for the lapse of such restrictions in installments in whole or in part, or may accelerate the vesting of
all or any part of any Restricted Stock Award and/or waive the deferral limitations for all or any part of any Restricted Stock Award. 

(ii)        If the grant of shares of Restricted Stock or the lapse of restrictions is based on the
attainment of Performance Goals, the Committee shall establish the objective Performance Goals and the applicable vesting percentage of the Restricted Stock applicable to each Participant or class of Participants in writing prior to the beginning of
the applicable fiscal year or at such later date as otherwise determined by the Committee and while the outcome of the Performance Goals are substantially uncertain. Such Performance Goals may incorporate provisions for disregarding (or adjusting
for) changes in accounting methods, corporate transactions (including, without limitation, dispositions and acquisitions) and other similar type events or circumstances. 

 (b)        Rights as a Stockholder. Except as
provided in Section 7.3(a) and this Section 7.3(b) or as otherwise determined by the Committee in an Award Agreement, the Participant shall have, with respect to the shares of Restricted Stock, all of the rights of a holder of shares of
Common Stock of the Company, including, without limitation, the right to receive dividends (the payment of which shall be deferred until, and conditioned upon, the expiration of the applicable Restriction Period and the satisfaction of any other
vesting conditions applicable to such shares of Restricted Stock), the right to vote such shares and, subject to and conditioned upon the full vesting of shares of Restricted Stock, the right to tender such shares. 

(c)        Termination. Unless otherwise determined by the Committee at grant or, if no rights
of the Participant are reduced, thereafter, subject to the applicable provisions of the Award Agreement and the Plan, upon a Participant’s Termination for any reason during the relevant Restriction Period, all Restricted Stock still subject to
restriction will be forfeited in accordance with the terms and conditions established by the Committee at grant or thereafter. 

(d)        Lapse of Restrictions. If and when the Restriction Period expires without a prior
forfeiture of the shares of Restricted Stock, such earned shares (and to the extent ownership of such shares is evidenced by stock certificates, the stock certificates for such shares) shall be delivered to the Participant. All legends shall be
removed from said certificates at the time of delivery to the Participant, except as otherwise required by applicable law or other limitations imposed by the Committee. 

ARTICLE VIII 

PERFORMANCE AWARDS 

8.1        Performance Awards.    The Committee may grant a
Performance Award to a Participant payable upon the attainment of specific Performance Goals. If the Performance Award is payable in shares of Restricted Stock, such shares shall be transferable to the Participant only upon attainment of the
relevant Performance Goal in accordance with Article VII. If the Performance Award is payable in cash, it may be paid upon the attainment of the relevant Performance Goals either in cash or in shares of Restricted Stock (based on the then current
Fair Market Value of such shares), as determined by the Committee, in its sole and absolute discretion. Each Performance Award shall be evidenced by an Award Agreement in such form that is not inconsistent with the Plan and that the Committee may
from time to time approve. 
 8.2        Terms and Conditions. Performance
Awards awarded pursuant to this Article VIII shall be subject to the following terms and conditions: 

(a)        Earning of Performance Award. At the expiration of the applicable Performance
Period, the Committee shall determine the extent to which the Performance Goals are achieved and the percentage of each Performance Award that has been earned. 

(b)        Non-Transferability. Subject to the
applicable provisions of the Award Agreement and the Plan, Performance Awards may not be Transferred during the Performance Period. 

 (c)        Dividends. To the extent
determined by the Committee, Participants shall be entitled to receive an amount equal to the dividends paid on the number of shares of Common Stock covered by the Performance Award; provided that payment of dividends or dividend equivalents
shall be deferred until, and conditioned upon, vesting and settlement of the underlying Performance Award. 

(d)        Payment. Following the Committee’s determination in accordance with
Section 8.2(a), the Company shall settle Performance Awards, in such form (including, without limitation, in shares of Common Stock or in cash) as determined by the Committee, in an amount equal to such Participant’s earned Performance
Awards. Notwithstanding the foregoing, the Committee may, in its sole discretion, award an amount less than the earned Performance Awards and/or subject the payment of all or part of any Performance Award to additional vesting, forfeiture and
deferral conditions as it deems appropriate. 
 (e)        Termination. Subject to the
applicable provisions of the Award Agreement and the Plan, upon a Participant’s Termination for any reason during the Performance Period for a given Performance Award, the Performance Award in question will vest or be forfeited in accordance
with the terms and conditions established by the Committee at grant. 
 (f)        Accelerated
Vesting. Based on service, performance and/or such other factors or criteria, if any, as the Committee may determine, the Committee may, at or after grant, accelerate the vesting of all or any part of any Performance Award. 

ARTICLE IX 
 OTHER
STOCK-BASED AND CASH-BASED AWARDS 
 9.1        Other Stock-Based
Awards.    The Committee is authorized to grant to Eligible Individuals Other Stock-Based Awards that are payable in, valued in whole or in part by reference to, or otherwise based
on or related to shares of Common Stock, including but not limited to, shares of Common Stock awarded purely as a bonus and not subject to restrictions or conditions, shares of Common Stock in payment of the amounts due under an incentive or
performance plan sponsored or maintained by the Company or an Affiliate, stock equivalent units, restricted stock units, and Awards valued by reference to book value of shares of Common Stock. Other Stock-Based Awards may be granted either alone or
in addition to or in tandem with other Awards granted under the Plan. 
 Subject to the provisions of the Plan, the Committee shall have
authority to determine the Eligible Individuals, to whom, and the time or times at which, such Awards shall be made, the number of shares of Common Stock to be awarded pursuant to such Awards, and all other conditions of the Awards. The Committee
may also provide for the grant of Common Stock under such Awards upon the completion of a specified Performance Period. 
 The Committee may
condition the grant or vesting of Other Stock-Based Awards upon the attainment of specified Performance Goals as the Committee may determine, in its sole discretion. 

9.2        Terms and Conditions.    Other Stock-Based Awards
made pursuant to this Article IX shall be subject to the following terms and conditions: 

(a)        Non-Transferability. Subject to the
applicable provisions of the Award Agreement and the Plan, shares of Common Stock subject to Awards made under this Article IX may not be Transferred prior to the date on which the shares are issued, or, if later, the date on which any applicable
restriction, performance or deferral period lapses. 

 (b)        Dividends. To the extent
determined by the Committee, Participants shall be entitled to receive an amount equal to the dividends paid on the number of shares of Common Stock covered by Awards made under this Article IX; provided that payment of dividends or dividend
equivalents shall be deferred until, and conditioned upon, vesting and settlement of the underlying Award. 

(c)        Vesting. Any Award under this Article IX and any Common Stock covered by any such
Award shall vest or be forfeited to the extent so provided in the Award Agreement, as determined by the Committee, in its sole discretion. 

(d)        Price. Common Stock issued on a bonus basis under this Article IX may be issued for
no cash consideration. Common Stock purchased pursuant to a purchase right awarded under this Article IX shall be priced, as determined by the Committee in its sole discretion. 

9.3        Other Cash-Based Awards.    The Committee may from
time to time grant Other Cash-Based Awards to Eligible Individuals in such amounts, on such terms and conditions, and for such consideration, including no consideration or such minimum consideration as may be required by applicable law, as it shall
determine in its sole discretion. Other Cash-Based Awards may be granted subject to the satisfaction of vesting conditions or may be awarded purely as a bonus and not subject to restrictions or conditions, and if subject to vesting conditions, the
Committee may accelerate the vesting of such Awards at any time in its sole discretion. The grant of an Other Cash-Based Award shall not require a segregation of any of the Company’s assets for satisfaction of the Company’s payment
obligation thereunder. 
 ARTICLE X 

CHANGE IN CONTROL PROVISIONS 

10.1        Benefits.    In the event of a Change in Control
of the Company (as defined below), and except as otherwise provided by the Committee in an Award Agreement, a Participant’s unvested Awards shall not vest automatically and a Participant’s Awards shall be treated in accordance with one or
more of the following methods as determined by the Committee: 
 (a)        Awards, whether or not
then vested, shall be continued, assumed, or have new rights substituted therefor, as determined by the Committee in a manner consistent with the requirements of Section 409A of the Code, and restrictions to which shares of Restricted Stock or
any other Award granted prior to the Change in Control are subject shall not lapse upon a Change in Control and the Restricted Stock or other Award shall, where appropriate in the sole discretion of the Committee, receive the same distribution as
other Common Stock on such terms as determined by the Committee; provided that the Committee may decide to award additional Restricted Stock or other Awards in lieu of any cash distribution. Notwithstanding anything to the contrary herein, for
purposes of Incentive Stock Options, any assumed or substituted Stock Option shall comply with the requirements of Treasury Regulation Section 1.424-1 (and any amendment thereto). 

 (b)        The Committee, in its sole discretion,
may provide for the purchase of any Awards by the Company or an Affiliate for an amount of cash equal to the excess (if any) of the Change in Control Price (as defined below) of the shares of Common Stock covered by such Awards, over the aggregate
exercise price of such Awards. For purposes hereof, “Change in Control Price” shall mean the highest price per share of Common Stock paid in any transaction related to a Change in Control of the Company. 

(c)        The Committee may, in its sole discretion, terminate all outstanding and unexercised Stock
Options or any Other Stock-Based Award that provides for a Participant elected exercise, effective as of the date of the Change in Control, by delivering notice of termination to each Participant at least twenty (20) days prior to the date of
consummation of the Change in Control, in which case during the period from the date on which such notice of termination is delivered to the consummation of the Change in Control, each such Participant shall have the right to exercise in full all of
such Participant’s Awards that are then outstanding (without regard to any limitations on exercisability otherwise contained in the Award Agreements), but any such exercise shall be contingent on the occurrence of the Change in Control, and,
provided that, if the Change in Control does not take place within a specified period after giving such notice for any reason whatsoever, the notice and exercise pursuant thereto shall be null and void. 

(d)        The Committee may, in its sole discretion, make any other determination as to the treatment
of Awards in connection with such Change in Control as the Committee may determine. Any escrow, holdback, earnout or similar provisions in the definitive agreement(s) relating to such transaction may apply to any payment to the holders of Awards to
the same extent and in the same manner as such provisions apply to the holders of shares of Common Stock.
 Notwithstanding any other provision herein to
the contrary, the Committee may, in its sole discretion, provide for accelerated vesting or lapse of restrictions, of an Award at any time. 

10.2        Change in Control.    Unless otherwise determined
by the Committee in the applicable Award Agreement or other written agreement with a Participant approved by the Committee, a “Change in Control” shall be deemed to occur if: 

(a)        any “person,” as such term is used in Sections 13(d) and 14(d) of the Exchange
Act (other than the Company, any trustee or other fiduciary holding securities under any employee benefit plan of the Company, or any company owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as
their ownership of Common Stock of the Company), becoming the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 50% or more
of the combined voting power of the Company’s then outstanding securities; 
 (b)        during
any period of 24 consecutive calendar months, individuals who were directors of the Company on the first day of such period (the “Incumbent Directors”) cease for any reason to constitute a majority of the Board; provided,
however, that any individual becoming a director subsequent to the first day of such period whose election, or nomination for election, by the Company’s stockholders was approved by a vote of at least
two-thirds of the Incumbent Directors will be considered as though such individual were an Incumbent Director, but excluding, for purposes of this proviso, any such individual whose initial assumption of
office occurs as a result 

 
of an actual or threatened proxy contest with respect to election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a “person”
(as used in Section 13(d) of the Exchange Act), in each case, other than the Board, which individual, for the avoidance of doubt, shall not be deemed to be an Incumbent Director for purposes of this Section 10.2(b), regardless of
whether such individual was approved by a vote of at least two-thirds of the Incumbent Directors; 

(c)        consummation of a reorganization, merger, consolidation or other business combination (any
of the foregoing, a “Business Combination”) of the Company or any direct or indirect subsidiary of the Company with any other corporation, in any case with respect to which the Company voting securities outstanding immediately prior
to such Business Combination do not, immediately following such Business Combination, continue to represent (either by remaining outstanding or being converted into voting securities of the Company or any ultimate parent thereof) more than 50% of
the then outstanding voting securities entitled to vote generally in the election of directors of the Company (or its successor) or any ultimate parent thereof after the Business Combination; or 

(d)        a complete liquidation or dissolution of the Company or the consummation of a sale or
disposition by the Company of all or substantially all of the Company’s assets other than the sale or disposition of all or substantially all of the assets of the Company to a person or persons who beneficially own, directly or indirectly, 50%
or more of the combined voting power of the outstanding voting securities of the Company at the time of the sale. 
 Notwithstanding the foregoing, with
respect to any Award that is characterized as “nonqualified deferred compensation” within the meaning of Section 409A of the Code, an event shall not be considered to be a Change in Control under the Plan for purposes of payment of
such Award unless such event is also a “change in ownership,” a “change in effective control” or a “change in the ownership of a substantial portion of the assets” of the Company within the meaning of Section 409A
of the Code. 
 ARTICLE XI 

TERMINATION OR AMENDMENT OF PLAN 

Notwithstanding any other provision of the Plan, the Board may at any time, and from time to time, amend, in whole or in part, any or all of
the provisions of the Plan (including any amendment deemed necessary to ensure that the Company may comply with any regulatory requirement referred to in Article XIII or Section 409A of the Code), or suspend or terminate it entirely,
retroactively or otherwise, and the Committee may amend the Plan to the extent such amendment is (i) ministerial or administrative in nature and does not result in a material change to the cost of the Plan or (ii) required by law.
Notwithstanding anything in the preceding sentence to the contrary, unless otherwise required by law or specifically provided herein, the rights of a Participant, with respect to Awards granted prior to any amendment (whether by the Board or the
Committee), suspension or termination, may not be impaired without the consent of such Participant. Notwithstanding anything herein to the contrary, the Board may amend the Plan or any Award Agreement at any time without a Participant’s consent
to comply with applicable law, including Section 409A of the Code. The Committee may amend the terms of any Award theretofore granted, prospectively or retroactively, but, subject to Article IV or as otherwise specifically provided herein, no
such amendment or other action by the Committee shall impair the rights of any holder without the holder’s consent. 

 ARTICLE XII 

UNFUNDED STATUS OF PLAN 

The Plan is intended to constitute an “unfunded” plan for incentive and deferred compensation. With respect to any payment as to
which a Participant has a fixed and vested interest but which are not yet made to a Participant by the Company, nothing contained herein shall give any such Participant any right that is greater than those of a general unsecured creditor of the
Company. 
 ARTICLE XIII 

GENERAL PROVISIONS 

13.1        Legend.    The Committee may require each person
receiving shares of Common Stock pursuant to a Stock Option or other Award under the Plan to represent to and agree with the Company in writing that the Participant is acquiring the shares without a view to distribution thereof. In addition to any
legend required by the Plan, the certificates for such shares (if any) may include any legend that the Committee deems appropriate to reflect any restrictions on Transfer. All certificates for shares of Common Stock (to the extent such shares are
certificated) delivered under the Plan shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, any stock
exchange upon which the Common Stock is then listed or any national securities exchange system or over-the-counter market upon whose system the Common Stock is then
quoted, any applicable federal or state securities law, and any applicable corporate law, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. 

13.2        Other Plans.    Nothing contained in the Plan
shall prevent the Board from adopting other or additional compensation arrangements, subject to stockholder approval if such approval is required, and such arrangements may be either generally applicable or applicable only in specific cases. 

13.3        No Right to
Employment/Directorship/Consultancy.    Neither the Plan nor the grant of any Option or other Award hereunder shall give any Participant or other employee, Consultant or
Non-Employee Director any right with respect to continuance of employment, consultancy or directorship by the Company or any Affiliate, nor shall the Plan nor the grant of any Option or other Award hereunder
limit in any way the right of the Company or any Affiliate by which an employee is employed or a Consultant or Non-Employee Director is retained to terminate such employment, consultancy or directorship at any
time. 
 13.4        Withholding of Taxes.    The Company
shall have the right to deduct from any payment to be made pursuant to the Plan, or to otherwise require, prior to the issuance or delivery of shares of Common Stock or the payment of any cash hereunder, payment by the Participant of, any federal,
state or local taxes required by law to be withheld. Upon the vesting of Restricted Stock (or other Award that is taxable upon vesting), or upon making an election under Section 83(b) 

 
of the Code, a Participant shall pay all required withholding to the Company. Any minimum statutorily required withholding obligation with regard to any Participant may be satisfied, subject to
the consent of the Committee, by reducing the number of shares of Common Stock otherwise deliverable or by delivering shares of Common Stock already owned. Any fraction of a share of Common Stock required to satisfy such tax obligations shall be
disregarded and the amount due in respect of such fraction of a share shall be paid instead in cash by the Participant. 

13.5        No Assignment of Benefits.    No Award or other
benefit payable under the Plan shall, except as otherwise specifically provided by law or permitted by the Committee, be Transferable in any manner, and any attempt to Transfer any such benefit shall be void, and any such benefit shall not in any
manner be liable for or subject to the debts, contracts, liabilities, engagements or torts of any person who shall be entitled to such benefit, nor shall it be subject to attachment or legal process for or against such person. 

13.6        Listing and Other Conditions. 

(a)        Unless otherwise determined by the Committee, as long as the Common Stock is listed on a
national securities exchange, system sponsored by a national securities association or recognized over-the-counter market, the issuance of shares of Common Stock
pursuant to an Award shall be conditioned upon such shares being listed on such exchange, system or market. The Company shall have no obligation to issue such shares unless and until such shares are so listed, and the right to exercise any Option or
other Award with respect to such shares shall be suspended until such listing has been effected. 

(b)        If at any time counsel to the Company shall be of the opinion that any sale or delivery of
shares of Common Stock pursuant to an Option or other Award is or may in the circumstances be unlawful or result in the imposition of excise taxes on the Company under the statutes, rules or regulations of any applicable jurisdiction, the Company
shall have no obligation to make such sale or delivery, or to make any application or to effect or to maintain any qualification or registration under the Securities Act or otherwise, with respect to shares of Common Stock or Awards, and the right
to exercise any Option or other Award shall be suspended until, in the opinion of said counsel, such sale or delivery shall be lawful or will not result in the imposition of excise taxes on the Company. 

(c)        Upon termination of any period of suspension under this Section 13.6, any Award
affected by such suspension which shall not then have expired or terminated shall be reinstated as to all shares available before such suspension and as to shares which would otherwise have become available during the period of such suspension, but
no such suspension shall extend the term of any Award. 
 (d)        A Participant shall be required
to supply the Company with certificates, representations and information that the Company requests and otherwise cooperate with the Company in obtaining any listing, registration, qualification, exemption, consent or approval the Company deems
necessary or appropriate. 
 13.7        Other
Requirements.    Notwithstanding anything herein to the contrary, as a condition to the receipt of shares of Common Stock pursuant to an Award under the Plan, to the extent required by the Committee, the Participant shall
execute and deliver documentation that shall set forth certain restrictions on transferability of the shares of Common Stock acquired upon exercise or purchase, and such other terms as the Committee shall from time to time establish. 

 13.8        Governing
Law.    The Plan and actions taken in connection herewith shall be governed and construed in accordance with the laws of the State of Delaware (regardless of the law that might otherwise govern under applicable Delaware
principles of conflict of laws). 
 13.9        Jurisdiction; Waiver of Jury
Trial.    Any suit, action or proceeding with respect to the Plan or any Award Agreement, or any judgment entered by any court of competent jurisdiction in respect of any thereof, shall be resolved only in the courts of
the State of Delaware or the United States District Court for the District of Delaware and the appellate courts having jurisdiction of appeals in such courts. In that context, and without limiting the generality of the foregoing, the
Company and each Participant shall irrevocably and unconditionally (a) submit in any proceeding relating to the Plan or any Award Agreement, or for the recognition and enforcement of any judgment in respect thereof (a
“Proceeding”), to the exclusive jurisdiction of the courts of the State of Delaware, the court of the United States of America for the District of Delaware, and appellate courts having jurisdiction of appeals from any of the
foregoing, and agree that all claims in respect of any such Proceeding shall be heard and determined in such Delaware State court or, to the extent permitted by law, in such federal court, (b) consent that any such Proceeding may and shall be
brought in such courts and waives any objection that the Company and each Participant may now or thereafter have to the venue or jurisdiction of any such Proceeding in any such court or that such Proceeding was brought in an inconvenient court and
agree not to plead or claim the same, (c) waive all right to trial by jury in any Proceeding (whether based on contract, tort or otherwise) arising out of or relating to the Plan or any Award Agreement, (d) agree that service of process in
any such Proceeding may be effected by mailing a copy of such process by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such party, in the case of a Participant, at the Participant’s address shown
in the books and records of the Company or, in the case of the Company, at the Company’s principal offices, attention General Counsel, and (e) agree that nothing in the Plan shall affect the right to effect service of process in any other
manner permitted by the laws of the State of Delaware. 

13.10        Construction.    Wherever any words are used in
the Plan or an Award Agreement in the masculine gender they shall be construed as though they were also used in the feminine gender in all cases where they would so apply, and wherever words are used herein in the singular form they shall be
construed as though they were also used in the plural form in all cases where they would so apply. 

13.11        Other Benefits.    No Award granted or paid out
under the Plan shall be deemed compensation for purposes of computing benefits under any retirement plan of the Company or its Affiliates nor affect any benefit under any other benefit plan now or subsequently in effect under which the availability
or amount of benefits is related to the level of compensation. 

13.12        Costs.    The Company shall bear all expenses
associated with administering the Plan, including expenses of issuing Common Stock pursuant to Awards hereunder. 

 13.13        No Right to Same
Benefits.    The provisions of Awards need not be the same with respect to each Participant, and such Awards to individual Participants need not be the same in subsequent years. 

13.14        Death/Disability.    The Committee may in its
discretion require the transferee of a Participant to supply it with written notice of the Participant’s death or Disability and to supply it with a copy of the will (in the case of the Participant’s death) or such other evidence as the
Committee deems necessary to establish the validity of the transfer of an Award. The Committee may also require that the agreement of the transferee to be bound by all of the terms and conditions of the Plan and the applicable Award Agreement. 

13.15        Section 16(b) of the Exchange Act.    All
elections and transactions under the Plan by persons subject to Section 16 of the Exchange Act involving shares of Common Stock are intended to comply with any applicable exemptive condition under
Rule 16b-3. The Committee may establish and adopt written administrative guidelines, designed to facilitate compliance with Section 16(b) of the Exchange Act, as it may deem necessary or proper for
the administration and operation of the Plan and the transaction of business thereunder. 

13.16        Section 409A of the Code.    The Plan is
intended to comply with the applicable requirements of Section 409A of the Code and shall be limited, construed and interpreted in accordance with such intent. To the extent that any Award is subject to Section 409A of the Code, it shall
be paid in a manner that will comply with Section 409A of the Code, including proposed, temporary or final regulations or any other guidance issued by the Secretary of the Treasury and the Internal Revenue Service with respect thereto.
Notwithstanding anything herein to the contrary, any provision in the Plan that is inconsistent with Section 409A of the Code shall be deemed to be amended to comply with Section 409A of the Code and to the extent such provision cannot be
amended to comply therewith, such provision shall be null and void. The Company shall have no liability to a Participant, or any other party, if an Award that is intended to be exempt from, or compliant with, Section 409A of the Code is not so
exempt or compliant or for any action taken by the Committee or the Company and, in the event that any amount or benefit under the Plan becomes subject to penalties under Section 409A of the Code, responsibility for payment of such penalties
shall rest solely with the affected Participants and not with the Company. Notwithstanding any contrary provision in the Plan or Award Agreement, any payment(s) of “nonqualified deferred compensation” (within the meaning of
Section 409A of the Code) that are otherwise required to be made under the Plan to a “specified employee” (as defined under Section 409A of the Code) as a result of such employee’s separation from service (other than a
payment that is not subject to Section 409A of the Code) shall be delayed for the first six (6) months following such separation from service (or, if earlier, the date of death of the specified employee) and shall instead be paid (in a
manner set forth in the Award Agreement) upon expiration of such delay period. 

13.17        Successors and Assigns.    The Plan and any
applicable Award Agreement(s) shall be binding on all successors and permitted assigns of a Participant, including, without limitation, the estate of such Participant and the executor, administrator or trustee of such estate. 

13.18        Severability of Provisions.    If any provision
of the Plan or any Award Agreement shall be held invalid or unenforceable, such invalidity or unenforceability shall not affect any other provisions hereof, and the Plan and/or Award Agreement shall be construed and enforced as if such provisions
had not been included. 

 13.19        Payments to Minors,
Etc. Any benefit payable to or for the benefit of a minor, an incompetent person or other person incapable of receipt thereof shall be deemed paid when paid to such person’s guardian or to the party providing or reasonably appearing to
provide for the care of such person, and such payment shall fully discharge the Committee, the Board, the Company, its Affiliates and their officers, directors/managers, employees, agents and representatives with respect thereto. 

13.20        Lock-Up Agreement. As a
condition to the grant of an Award, if requested by the Company and the lead underwriter of any public offering of Common Stock (the “Lead Underwriter”), a Participant shall irrevocably agree not to sell, contract to sell,
grant any option to purchase, transfer the economic risk of ownership in, make any short sale of, pledge or otherwise transfer or dispose of, any interest in any Common Stock or any securities convertible into, derivative of, or exchangeable or
exercisable for, or any other rights to purchase or acquire Common Stock (except Common Stock included in such public offering or acquired on the public market after such offering) during such period of time following the effective date of a
registration statement of the Company filed under the Securities Act that the Lead Underwriter shall specify (the “Lock-Up Period”). The Participant shall further agree to sign such
documents as may be requested by the Lead Underwriter to effect the foregoing and agree that the Company may impose stop-transfer instructions with respect to Common Stock acquired pursuant to an Award until the end of such Lock-Up Period. 
 13.21        Headings and
Captions. The headings and captions herein are provided for reference and convenience only, shall not be considered part of the Plan, and shall not be employed in the construction of the Plan. 

13.22        Company Recoupment of Awards. A Participant’s rights with
respect to any Award hereunder shall in all events be subject to (i) any right that the Company may have under any Company recoupment policy or other agreement or arrangement with a Participant, or (ii) any right or obligation that the
Company may have regarding the clawback of “incentive-based compensation” under Section 10D of the Exchange Act and any applicable rules and regulations promulgated thereunder from time to time by the U.S. Securities and Exchange
Commission. 
 ARTICLE XIV 

EFFECTIVE DATE OF PLAN 

The Plan became effective on October 3, 2016. 

ARTICLE XV 
 TERM OF PLAN

 No Award shall be granted pursuant to the Plan on or after the tenth anniversary of the earlier of the date that the Plan is adopted
or the date of stockholder approval, but Awards granted prior to such tenth anniversary may extend beyond that date. For purposes of the Plan, approval by the bankruptcy court shall serve as stockholder approval, unless otherwise prohibited by law.

 ARTICLE XVI 

NAME OF PLAN 
 The Plan
shall be known as the “Vistra Energy Corp. 2016 Omnibus Incentive Plan.” 

 EXHIBIT A 

PERFORMANCE GOALS 
 Performance
goals established for purposes of Awards may be (but are not required to be) based on the attainment of certain target levels of, or a specified increase or decrease (as applicable) in, one or more of the following: 

 

	 	•	 	 Non-GAAP performance measures included in any of the Company’s SEC
filings; 

  

	 	•	 	 Line items on the Company’s income statement, including but not limited to net interest income, total other
income, total costs and expenses, income before taxes, net income and/or earnings per share; 

  

	 	•	 	 Line items on the Company’s balance sheet, including but not limited to debt or other similar financial
obligations of the Company, which may be calculated net of cash balances and/or other offsets and adjustments as may be established by the Committee in its sole discretion; 

 

	 	•	 	 Line items on the Company’s statement of cash flows, including but not limited to net cash provided in (used
by) operating activities, investing activities, and/or financing activities; 

  

	 	•	 	 Market share; 

  

	 	•	 	 Operational metrics, including but not limited to generation performance, customer churn, residential ending
customer count, customer satisfaction, average days sales outstanding, energizing events issues/success, customer complaints/success, systems availability and downtime, contribution margin, and safety and environmental improvements;

  

	 	•	 	 Financial ratios, including but not limited to operating margin, return on equity, return on assets, and/or
return on invested capital; or 

  

	 	•	 	 Total shareholder return, the fair market value of a share of Common Stock, or the growth in value of an
investment in the Common Stock assuming the reinvestment of dividends. 

 (i)    Performance goals may
also be based upon individual participant performance goals, as determined by the Committee, in its sole discretion. In addition, such performance goals may be based upon the attainment of specified levels of Company (or subsidiary, division, other
operational unit, administrative department or product category of the Company) performance under one or more of the measures described above relative to the performance of one or more other companies or one or more groups of companies (e.g.,
an index). The Committee may also (i) designate additional business criteria on which the performance goals may be based; or (ii) adjust, modify or amend the aforementioned business criteria. 

The Committee may, in its sole discretion, also exclude, or adjust to reflect, the impact of an event or occurrence that the Committee
determines should be appropriately excluded or adjusted, including: 
 (b)        restructurings,
discontinued operations, extraordinary items or events, and other unusual or non-recurring charges as described in Accounting Standards Codification 225-20,
“Extraordinary and Unusual Items,” and/or management’s discussion and analysis of financial condition and results of operations appearing or incorporated by reference in the Company’s Form
10-K for the applicable year; 

 (c)        an event either not directly related to
the operations of the Company or not within the reasonable control of the Company’s management; 

(d)        a change in tax law or accounting standards required by generally accepted accounting
principles; or 
 (e)        a decision to accelerate or defer capital expenditures or expenses
contrary to the timing reflected in the Company’s annual financial plan.

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