CREDIT AGREEMENT dated as of May 2, 2006 among PROQUEST COMPANY, as the Company,

EX-4.7 3 dex47.htm CREDIT AGREEMENT Credit Agreement

Exhibit 4.7

CREDIT AGREEMENT

dated as of May 2, 2006

among

PROQUEST COMPANY,

as the Company,

and

THE VARIOUS FINANCIAL INSTITUTIONS PARTY HERETO,

as Lenders,

and

ING INVESTMENT MANAGEMENT LLC,

as Administrative Agent

TABLE OF CONTENTS


		Page
SECTION 1 DEFINITIONS.		1

	1.1 Definitions.	1
	1.2 Other Interpretive Provisions.	18

SECTION 2 COMMITMENTS OF THE LENDERS; BORROWING, CONVERSION PROCEDURES		19

	2.1 Commitments.	19
	2.1.1 Revolving Loan Commitment	19
	2.1.2 [Intentionally Omitted]	19
	2.2 Loan Procedures	20
	2.2.1 Various Types of Loans	20
	2.2.2 Borrowing Procedures	20
	2.2.3 Conversion and Continuation Procedures	21
	2.2.4 [Intentionally Omitted]	22
	2.3 [Intentionally Omitted]	22
	2.4 Commitments Several	22
	2.5 Certain Conditions	22

SECTION 3 EVIDENCING OF LOANS		23

	3.1 Notes	23
	3.2 Recordkeeping	23

SECTION 4 INTEREST		23

	4.1 Interest Rates	23
	4.2 Interest Payment Dates	24
	4.3 Setting and Notice of LIBOR Rates	24
	4.4 Computation of Interest	24

SECTION 5 FEES.		24

	5.1 Non-Use Fee.	24
	5.2 [Intentionally Omitted]	24
	5.3 Administrative Agent’s Fees	24

SECTION 6 REDUCTION, TERMINATION OR INCREASE OF THE REVOLVING COMMITMENT; PREPAYMENTS		25

	6.1 Reduction of the Revolving Commitment	25
	6.2 Prepayments.	25
	6.2.1 Voluntary Prepayments	25
	6.3 Manner of Prepayments	26
	6.4 Repayments	26

SECTION 7 MAKING AND PRORATION OF PAYMENTS; SETOFF; TAXES.		26

	7.1 Making of Payments	26
	7.2 Application of Certain Payments	26


7.3 Due Date Extension		27
7.4 Setoff		27
7.5 Proration of Payments		27
7.6 Taxes.		27

SECTION 8 INCREASED COSTS; SPECIAL PROVISIONS FOR LIBOR LOANS		29

8.1 Increased Costs		29
8.2 Basis for Determining Interest Rate Inadequate or Unfair		30
8.3 Changes in Law Rendering LIBOR Loans Unlawful		30
8.4 Funding Losses		31
8.5 Right of Lenders to Fund through Other Offices		31
8.6 Discretion of Lenders as to Manner of Funding		31
8.7 Mitigation of Circumstances; Replacement of Lenders		31
8.8 Conclusiveness of Statements; Survival of Provisions		32

SECTION 9 REPRESENTATIONS AND WARRANTIES		32

9.1 Organization		32
9.2 Authorization; No Conflict		32
9.3 Validity and Binding Nature		32
9.4 Financial Condition.		33
9.5 No Material Adverse Change		33
9.6 Litigation and Contingent Liabilities		33
9.7 Ownership of Properties; Liens		33
9.8 Equity Ownership; Subsidiaries		33
9.9 Pension Plans.		33
9.10 Investment Company Act		34
9.11 Public Utility Holding Company Act		34
9.12 Regulation U		34
9.13 Taxes; Tax Shelter Registration		34
9.14 Solvency, etc		35
9.15 Environmental Matters		35
9.16 Insurance		35
9.17 Real Property		35
9.18 Information		35
9.19 Intellectual Property		36
9.20 Burdensome Obligations		36
9.21 Labor Matters		36
9.22 No Default		36
9.23 Related Agreements, etc		36

SECTION 10 AFFIRMATIVE COVENANTS.		37

10.1 Reports, Certificates and Other Information		37
10.1.1 Annual Report		37
10.1.2 Interim Reports		38
10.1.3 Compliance Certificates		38
10.1.4 Reports to the SEC and to Shareholders		38
10.1.5 Notice of Default, Litigation and ERISA Matters		38


10.1.6 Management Reports.		39
10.1.7 Projections		39
10.1.8 Debt Notices		40
10.1.9 Other Information		40
10.2 Books, Records and Inspections		40
10.3 Maintenance of Property; Insurance		40
10.4 Compliance with Laws; Payment of Taxes and Liabilities.		41
10.5 Maintenance of Existence, etc		41
10.6 Use of Proceeds		41
10.7 Employee Benefit Plans		42
10.8 Environmental Matters		42
10.9 Tax Shelter Registration		42
10.10 Further Assurances		42
10.11 Deposit Accounts.		43
10.12 Additional Covenants		43

SECTION 11 NEGATIVE COVENANTS		43

11.1 Debt.		43
11.2 Liens		44
11.3 Dispositions.		45
11.4 Restricted Payments.		46
11.5 Fundamental Changes		47
11.6 Modification of Organizational Documents.		47
11.7 Transactions with Affiliates.		47
11.8 Unconditional Purchase Obligations		47
11.9 Inconsistent Agreements		47
11.10 Business Activities; Issuance of Equity		48
11.11 Investments		48
11.12 Restriction of Amendments and Prepayments to Certain Debt.		50
11.13 Fiscal Year		51
11.14 Financial Covenants		51
12.1 Initial Credit Extension		51
12.1.1 Notes		51
12.1.2 Authorization Documents		51
12.1.3 Consents, etc.		52
12.1.4 Letter of Direction		52
12.1.5 Guaranty and Collateral Agreement.		52
12.1.6 Opinions of Counsel		52
12.1.7 Insurance.		52
12.1.8 Copies of Documents		52
12.1.9 Payment of Fees		53
12.1.12 Environmental Reports		53
12.1.13 Search Results; Lien Terminations		53
12.1.14 Closing Certificate, Consents and Permits		53
12.1.15 Existing Bank Credit Agreement Notice of Borrowing		53
12.1.16 Other		53
12.2 Conditions.		53

iii


12.2.1 Compliance with Warranties, No Default, etc.		53
12.2.2 Confirmatory Certificate		54
12.2.3 Existing Bank Credit Agreement Notice of Borrowing		54

SECTION 13 EVENTS OF DEFAULT AND THEIR EFFECT		55

13.1 Events of Default.		55
13.1.1 Non-Payment of the Loans, etc		55
13.1.2 Non-Payment of Other Debt		55
13.1.3 Other Material Obligations.		56
13.1.4 Bankruptcy, Insolvency, etc.		56
13.1.5 Non-Compliance with Loan Documents		56
13.1.6 Representations; Warranties		56
13.1.7 Pension Plans.		56
13.1.8 Judgments		57
13.1.9 Receivables Sale Agreement.		57
13.1.10 Change of Control		57
13.1.13 Material Adverse Effect.		58
13.2 Effect of Event of Default		58

SECTION 14 THE AGENT		58

14.1 Appointment and Authorization		58
14.2 [Intentionally Omitted]		59
14.3 Delegation of Duties		59
14.4 Exculpation of Administrative Agent		59
14.5 Reliance by Administrative Agent		59
14.6 Notice of Default		60
14.7 Credit Decision		60
14.8 Indemnification		61
14.9 Administrative Agent in Individual Capacity		61
14.10 Successor Administrative Agent		61
14.11 Administrative Agent May File Proofs of Claim		62
14.12 Other Agents; Arrangers and Managers		62

SECTION 15 GENERAL		62

15.1 Waiver; Amendments.		62
15.2 Confirmations		63
15.3 Notices.		63
15.5 Costs, Expenses and Taxes		64
15.6 Assignments; Participations		64
15.6.1 Assignments		64
15.6.2 Participations		65
15.7 Register.		66
15.8 GOVERNING LAW.		66
15.9 Confidentiality		66
15.10 Severability		67
15.11 Nature of Remedies		67
15.12 Entire Agreement		67


15.13 Counterparts		68
15.14 Successors and Assigns		68
15.15 Captions		68
15.16 INDEMNIFICATION BY THE COMPANY		68
15.17 Nonliability of Lenders		69
15.18 FORUM SELECTION AND CONSENT TO JURISDICTION		70
15.19 WAIVER OF JURY TRIAL		70

ANNEXES


ANNEX A		[Intentionally Omitted]
ANNEX B		Addresses for Notices

SCHEDULES


SCHEDULE 9.6		Litigation and Contingent Liabilities
SCHEDULE 9.8		Equity Ownership; Loan Party Capitalization
SCHEDULE 9.16		Insurance
SCHEDULE 9.17		Real Property
SCHEDULE 9.21		Labor Matters
SCHEDULE 11.1		Existing Debt
SCHEDULE 11.2		Existing Liens
SCHEDULE 11.11		Investments

EXHIBITS


EXHIBIT A		Form of Note (Section 3.1)
EXHIBIT B		Form of Compliance Certificate (Section 10.1.3)
EXHIBIT C		Form of Assignment Agreement (Section 15.6.1)
EXHIBIT D		Form of Notice of Borrowing (Section 2.2.2)
EXHIBIT E		Form of Notice of Conversion/Continuation (Section 2.2.3)

CREDIT AGREEMENT

THIS CREDIT AGREEMENT dated as of May 2, 2006 (this “Agreement”), is entered into among PROQUEST COMPANY (the “Company”), the financial institutions that are or may from time to time become parties hereto (together with their respective successors and assigns, the “Lenders” and, each individually, a “Lender”), and ING INVESTMENT MANAGEMENT LLC (in its individual capacity, “ING”), as administrative agent for the Lenders.

The Lenders have agreed to make available to the Company a revolving credit facility upon the terms and conditions set forth herein.

In consideration of the mutual agreements herein contained, the parties hereto agree as follows:

SECTION 1 DEFINITIONS.

1.1 Definitions. When used herein the following terms shall have the following meanings:

Acquisition means any transaction or series of related transactions for the purpose of or resulting, directly or indirectly, in (a) the acquisition of all or substantially all of the assets of a Person, or of all or substantially all of any business or division of a Person, (b) the acquisition of in excess of 50% of the Capital Securities of any Person, or otherwise causing any Person to become a Subsidiary, or (c) a merger or consolidation or any other combination with another Person (other than a Person that is already a Subsidiary).

Administrative Agent means ING in its capacity as administrative agent for the Lenders hereunder and any successor thereto in such capacity.

Affected Loan - see Section 8.3.

Affiliate of any Person means (a) any other Person which, directly or indirectly, controls or is controlled by or is under common control with such Person, (b) any officer or director of such Person and (c) with respect to any Lender, any entity administered or managed by such Lender or an Affiliate or investment advisor thereof and which is engaged in making, purchasing, holding or otherwise investing in commercial loans. A Person shall be deemed to be “controlled by” any other Person if such Person possesses, directly or indirectly, power to vote 10% or more of the securities (on a fully diluted basis) having ordinary voting power for the election of directors or managers or power to direct or cause the direction of the management and policies of such Person whether by contract or otherwise. Unless expressly stated otherwise herein, neither the Administrative Agent nor any Lender shall be deemed an Affiliate of any Loan Party.

Agreement - see the Preamble.

Applicable Margin, subject to the Waiver and Omnibus Amendment Agreement, means, for any day, (a) the applicable margin for (i) LIBOR Loans shall be 3.50% per annum (the “LIBOR Margin”) and (ii) Base Rate Loans shall be 2.00% per annum (the “Base Rate Margin”), and (b) the non-use fee rate shall be 0.30% per annum (the “Non-Use Fee Rate”).

Assignee - see Section 15.6.1.

Assignment Agreement - see Section 15.6.1.

Attorney Costs means, with respect to any Person, all reasonable fees and charges of any counsel to such Person and, without duplication, the reasonable allocable cost of internal legal services of such Person, all reasonable disbursements of such internal counsel and all court costs and similar legal expenses.

Attributable Debt means, on any date, (a) in respect of any Capital Lease of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, and (b) in respect of any Synthetic Lease Obligation, the capitalized amount of the remaining lease payments under the relevant lease that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease were accounted for as a Capital Lease.

Base Rate means at any time the greater of (a) the Federal Funds Rate plus 0.5% and (b) the Prime Rate.

Base Rate Loan means any Loan which bears interest at or by reference to the Base Rate.

Base Rate Margin - see the definition of Applicable Margin.

Board of Directors means: (1) with respect to a corporation, the board of directors of the corporation or such directors or committee serving a similar function; (2) with respect to a limited liability company, the board of managers of the company or such managers or committee serving a similar function; (3) with respect to a partnership, the Board of Directors of the general partner of the partnership; and (4) with respect to any other Person, the managers, directors, trustees, board or committee of such Person or its owners serving a similar function.

Business Day means any day other than (a) a Saturday or a Sunday or (b) a day on which commercial banks are not open for the majority of their banking business in Chicago, Detroit or New York and, in the case of a Business Day which relates to a LIBOR Loan, on which dealings are carried on in the London interbank eurodollar market.

Capital Expenditures means all expenditures which, in accordance with GAAP, would be required to be capitalized and shown on the consolidated balance sheet of the Company, including expenditures in respect of Capital Leases and product masters, but excluding expenditures made in connection with the replacement, substitution or restoration of assets to the extent financed (a) from insurance proceeds (or other similar recoveries) paid on account of the loss of or damage to the assets being replaced or restored or (b) with awards of compensation arising from the taking by eminent domain or condemnation of the assets being replaced.

Capital Lease means, with respect to any Person, any lease of (or other agreement conveying the right to use) any real or personal property by such Person that, in conformity with GAAP, is accounted for as a capital lease on the balance sheet of such Person.

Capital Securities means, with respect to any Person, all shares, interests, participations or other equivalents (however designated, whether voting or non-voting) of such Person’s capital, whether now outstanding or issued or acquired after the Closing Date, including common shares, preferred shares, membership interests in a limited liability company, limited or general partnership interests in a partnership or any other equivalent of such ownership interest.

Cash Equivalent Investment means, at any time, (a) any evidence of Debt, maturing not more than one year after such time, issued or guaranteed by the United States Government or any agency thereof, (b) commercial paper, maturing not more than one year from the date of issue, or corporate demand notes, in each case (unless issued by a Lender or its holding company) rated at least A-l by S&P or P-l by Moody’s, (c) any certificate of deposit, time deposit or banker’s acceptance, maturing not more than one year after such time, or any overnight Federal Funds transaction that is issued or sold by any Lender or its holding company (or by a commercial banking institution that is a member of the Federal Reserve System and has a combined capital and surplus and undivided profits of not less than $500,000,000), (d) any repurchase agreement entered into with any Lender or Existing Bank Credit Agreement Lender (or commercial banking institution of the nature referred to in clause (c)) which (i) is secured by a fully perfected security interest in any obligation of the type described in any of clauses (a) through (c) above and (ii) has a market value at the time such repurchase agreement is entered into of not less than 100% of the repurchase obligation of such Lender (or other commercial banking institution) thereunder and (e) money market accounts or mutual funds which invest exclusively in assets satisfying the foregoing requirements, and (f) other short term liquid investments approved in writing by the Administrative Agent.

Change of Control means an event or series of events by which:

(a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, but excluding any employee benefit plan of the Company or any Subsidiary, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to have “beneficial ownership” of all Capital Securities that such person or group has the right to acquire (such right, an “option right”), whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of 30% or more of the Capital Securities of the Company entitled to vote for members of the Board of Directors of the Company on a fully-diluted basis (and taking into account all such securities that such person or group has the right to acquire pursuant to any option right); or

(b) during any period of 12 consecutive months, a majority of the members of the Board of Directors cease to be composed of individuals (i) who were members of such Board of Directors on the first day of such period, (ii) whose election or nomination to such Board of Directors was approved by individuals referred to in clause (i) above

constituting at the time of such election or nomination at least a majority of such Board of Directors or (iii) whose election or nomination to such Board of Directors 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 such Board of Directors (excluding, in the case of both clause (ii) and clause (iii), any individual whose initial nomination for, or assumption of office as, a member of such Board of Directors occurs as a result of an actual or threatened solicitation of proxies or consents for the election or removal of one or more directors by any person or group other than a solicitation for the election of one or more directors by or on behalf of the Board of Directors); or

(c) the occurrence of any change of control or similar concept under any Senior Note Document that causes or could cause an event of default or required payment on, or defeasance or redemption of, any Senior Notes.

Closing Date - see Section 12.1.

Code means the Internal Revenue Code of 1986.

Collateral shall have the meaning ascribed to it in Schedule 1 to the Waiver and Omnibus Amendment Agreement.

Collateral Agent shall have the meaning ascribed to it in Schedule 1 to the Waiver and Omnibus Amendment Agreement.

Collateral Documents shall have the meaning ascribed to it in Schedule 1 to the Waiver and Omnibus Amendment Agreement.

Commitment means, as to any Lender, such Lender’s commitment to make Loans under this Agreement in an amount equal to such Lender’s Pro Rata Share of the Revolving Commitment.

Company - see the Preamble.

Compliance Certificate means a Compliance Certificate in substantially the form of Exhibit B.

Computation Period means each period of four consecutive Fiscal Quarters ending on the last day of a Fiscal Quarter.

Consolidated EBITDA means, for any period, Consolidated Net Income for such period plus, to the extent deducted in calculating such Consolidated Net Income and without duplication, (a) Consolidated Interest Charges, (b) provision for Federal, state, local and foreign income taxes payable by the Company and its Subsidiaries, (c) depreciation and amortization expense and (d) other noncash charges (excluding any such noncash charge to the extent that it represents an accrual or reserve for potential cash items in any future period or the amortization of a prepaid cash item that was paid in a prior period) deducted in determining Consolidated Net Income for such period and not already deducted in accordance with clause (c) above (including the cumulative effect of changes in accounting principles under GAAP to the extent included in

such noncash charges); minus (e) noncash credits included in accordance with the definition of Consolidated Net Income (excluding deferred income) for such period (including the cumulative effect of changes in accounting principles under GAAP to the extent included in such noncash credits).

Consolidated Interest Charges means, for any period, the sum, without duplication, of (a) all interest, premium payments, debt discount, fees, charges and related expenses of the Company and its Subsidiaries in connection with borrowed money (including capitalized interest) or in connection with the deferred purchase price of assets, in each case to the extent treated as interest in accordance with GAAP, and (b) the portion of Rentals of the Company and its Subsidiaries with respect to such period under Capital Leases that is treated as interest in accordance with GAAP, all computed on a consolidated basis.

Consolidated Net Income means, for any period, the consolidated net income of the Company and its Subsidiaries for such period (excluding any gains from Dispositions, any extraordinary gains and any gains from discontinued operations but including extraordinary losses).

Consolidated Net Worth means, as of any date of determination, the consolidated shareholders’ equity of the Company and its Subsidiaries on such date.

Contingent Liability means, with respect to any Person, each obligation and liability of such Person and all such obligations and liabilities of such Person incurred pursuant to any agreement, undertaking or arrangement by which such Person: (a) guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, dividend, obligation or other liability of any other Person in any manner (other than by endorsement of instruments in the course of collection), including any indebtedness, dividend or other obligation which may be issued or incurred at some future time; (b) guarantees the payment of dividends or other distributions upon the Capital Securities of any other Person; (c) undertakes or agrees (whether contingently or otherwise): (i) to purchase, repurchase, or otherwise acquire any indebtedness, obligation or liability of any other Person or any or any property or assets constituting security therefor, (ii) to advance or provide funds for the payment or discharge of any indebtedness, obligation or liability of any other Person (whether in the form of loans, advances, stock purchases, capital contributions or otherwise), or to maintain solvency, assets, level of income, working capital or other financial condition of any other Person, or (iii) to make payment to any other Person other than for value received; (d) agrees to lease property or to purchase securities, property or services from such other Person with the purpose or intent of assuring the owner of such indebtedness or obligation of the ability of such other Person to make payment of the indebtedness or obligation; (e) to induce the issuance of, or in connection with the issuance of, any letter of credit for the benefit of such other Person; or (f) undertakes or agrees otherwise to assure a creditor against loss. The amount of any Contingent Liability shall (subject to any limitation set forth herein) be deemed to be the outstanding principal amount (or maximum permitted principal amount, if larger) of the indebtedness, obligation or other liability guaranteed or supported thereby.

Controlled Group means all members of a controlled group of corporations, all members of a controlled group of trades or businesses (whether or not incorporated) under common control and all members of an affiliated service group which, together with the Company or any of its Subsidiaries, are treated as a single employer under Section 414 of the Code or Section 4001 of ERISA.

Debt means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

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

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

(d) all obligations of such Person to pay the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business, similar accrued expenses, monetized future billings, and royalty payments in the ordinary course of business);

(e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse (it being understood that if such Person has not assumed or become personally liable for such indebtedness, the amount of the Debt of such Person in connection therewith shall be limited to the lesser of the face amount of such indebtedness (or such lesser amount as constitutes the maximum recourse to such Person) or the fair market value of all property of such Person securing such indebtedness);

(f) obligations under Capital Leases;

(g) the aggregate outstanding amount of all Off Balance Sheet Liabilities;

(h) the aggregate outstanding amount of all Disqualified Stock; and

(i) all Contingent Liabilities of such Person in respect of any obligations of others of the type referred to above.

For all purposes hereof, the Debt of any Person shall include the Debt of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Debt is expressly made non-recourse to such Person. The amount of any Capital Lease or Synthetic Lease Obligation as of any date shall be deemed to be the amount of Attributable Debt in respect

thereof as of such date. The amount of any other Off-Balance Sheet Liability shall be the amount determined by the Administrative Agent based on the aggregate outstanding amount thereof as if such transaction were structured as an on balance sheet financing.

Defaulting Lender means any Lender that fails to make available to the Administrative Agent such Lender’s Loans required to be made hereunder (as more fully provided in Section 2.2.4) or shall have not made a payment required to be made to the Administrative Agent hereunder. Once a Lender becomes a Defaulting Lender, such Lender shall continue as a Defaulting Lender until such time as such Defaulting Lender makes available to the Administrative Agent the amount of such Defaulting Lender’s Loans and all other amounts required to be paid to the Administrative Agent pursuant to this Agreement.

Disposition or Dispose means the sale, transfer, license, lease or other disposition (including any sale and leaseback transaction) of any property by any Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith; it being understood that payments of cash consideration with respect to a permitted Acquisition under this Agreement and Dispositions permitted by Section 11.4 shall not be a sale, transfer, license, lease or other disposition of any property by any Person.

Disqualified Stock means any Capital Securities that, by their terms (or by the terms of any security into which it is convertible or for which it is exchangeable), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the holder thereof, in whole or in part, prior to the date one year after the later of the Termination Date or January 31, 2010.

Dollar and the sign “$” mean lawful money of the United States of America.

Domestic Subsidiary means any Subsidiary of the Company that is not a Foreign Subsidiary.

Environmental Claims means all claims, however asserted, by any governmental, regulatory or judicial authority or other Person alleging potential liability or responsibility for violation of any Environmental Law, or for release or injury to the environment.

Environmental Laws means all present or future federal, state or local laws, statutes, common law duties, rules, regulations, ordinances and codes, together with all administrative or judicial orders, consent agreements, directed duties, requests, licenses, authorizations and permits of, and agreements with, any governmental authority, in each case relating to any matter arising out of or relating to public health and safety, or pollution or protection of the environment or workplace, including any of the foregoing relating to the presence, use, production, generation, handling, transport, treatment, storage, disposal, distribution, discharge, emission, release, threatened release, control or cleanup of any Hazardous Substance.

ERISA means the Employee Retirement Income Security Act of 1974.

Event of Default means any of the events described in Section 13.1.

Excess Amount - Section 12.2.3.

Excluded Taxes means taxes based upon, or measured by, the Lender’s or Administrative Agent’s (or a branch of the Lender’s or Administrative Agent’s) overall net income, overall net receipts, or overall net profits (including franchise taxes imposed in lieu of such taxes), but only to the extent such taxes are imposed by a taxing authority (a) in a jurisdiction in which such Lender or Administrative Agent is organized, (b) in a jurisdiction which the Lender’s or Administrative Agent’s principal office is located, or (c) in a jurisdiction in which such Lender’s or Administrative Agent’s lending office (or branch) in respect of which payments under this Agreement are made is located.

Existing Bank Administrative Agent means LaSalle Bank Midwest National Association, f/k/a Standard Federal Bank, N.A., in its capacity as “Administrative Agent” under the Existing Bank Credit Agreement.

Existing Bank Credit Agreement means the Credit Agreement dated as of January 31, 2005 among the Company, Standard Federal Bank, N.A. (now known as LaSalle Bank Midwest National Association), as administrative agent, and each of the Existing Bank Credit Agreement Lenders, as amended by the Waiver and Omnibus Amendment Agreement and as otherwise amended as permitted hereunder and by the Waiver and Omnibus Amendment Agreement.

Existing Bank Credit Agreement Lenders means each “Lender” party to the Existing Bank Credit Agreement from time to time.

Federal Funds Rate means, for any day, the rate determined by the Existing Bank Administrative Agent under the Existing Bank Credit Agreement as the “Federal Funds Rate” from time to time. The Existing Bank Administrative Agent’s determination of such rate shall be binding and conclusive. Notwithstanding the foregoing, subject to the terms of the Waiver and Omnibus Amendment Agreement, the Administrative Agent may establish the Federal Funds Rate hereunder at a rate equal for each day during such period to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations for such day on such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by the Administrative Agent. The Administrative Agent’s determination of such rate shall be binding and conclusive absent manifest error.

Fiscal Quarter means (i) as of the date of this Agreement, each period of 13 weeks during a Fiscal Year ending on a Saturday (with the first such Fiscal Quarter to commence on the first day of such Fiscal Year) and (ii) upon and after such time as the Company adopts a Fiscal Year as set forth in clause (ii) of the defined term “Fiscal Year” any of the quarterly accounting periods of the Company, ending on March 31, June 30, September 30 and December 31 of each year.

Fiscal Year means a (i) as of the date of this Agreement, any 52-week or 53-week period beginning on the day after the Saturday nearest to December 31 and ending on the Saturday

nearest to the following December 31. References to a Fiscal Year with a number corresponding to any calendar year (e.g., “2005 Fiscal Year”) refer to the Fiscal Year ending on the Saturday nearest to the December 31 of such calendar year and (ii) upon the election of the Company, any of the annual accounting periods of the Company ending on December 31 of each year.

Fixed Charge Coverage Ratio means, for any Computation Period, the ratio of (a) the total for such period of Consolidated EBITDA minus the sum of income taxes paid in cash by the Loan Parties and all Capital Expenditures to (b) the sum for such period of (i) cash Consolidated Interest Charges plus (ii) required payments of principal of Debt.

Foreign Subsidiary means any Subsidiary of the Company that is incorporated or organized under the laws of any jurisdiction other than the United States of America, any State or other political subdivision thereof or the District of Columbia.

FRB means the Board of Governors of the Federal Reserve System or any successor thereto.

GAAP means generally accepted accounting principles set forth from time to time in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board (or agencies with similar functions of comparable stature and authority within the U.S. accounting profession) and the Securities and Exchange Commission, which are applicable to the circumstances as of the date of determination.

Governmental Authority shall have the meaning ascribed to it in Schedule 1 to the Waiver and Omnibus Amendment Agreement.

Group - see Section 2.2.1.

Guaranty means the guaranty provisions set forth in the Guaranty and Collateral Agreement.

Guaranty and Collateral Agreement means the Guaranty and Collateral Agreement dated as of the date hereof executed by the Company and each of the Subsidiary Guarantors, in favor of the Collateral Agent and each of the Creditors identified therein, together with any joinders thereto and any other guaranty executed by a Guarantor, in each case, in form and substance satisfactory to the Administrative Agent.

Guarantors means all existing and future Subsidiaries of the Company required to execute a Guaranty under Section 10.10.

Hazardous Substances means (a) any petroleum or petroleum products, radioactive materials, asbestos in any form that is or could become friable, urea formaldehyde foam insulation, dielectric fluid containing levels of polychlorinated biphenyls, radon gas and mold; (b) any chemicals, materials, pollutant or substances defined as or included in the definition of “hazardous substances”, “hazardous waste”, “hazardous materials”, “extremely hazardous substances”, “restricted hazardous waste”, “toxic substances”, “toxic pollutants”, “contaminants”, “pollutants” or words of similar import, under any applicable Environmental

Law; and (c) any other chemical, material or substance, the exposure to, or release of which is prohibited, limited or regulated by any governmental authority or for which any duty or standard of care is imposed pursuant to, any Environmental Law.

Hedging Agreement means any interest rate, currency or commodity swap agreement, cap agreement or collar agreement, and any other agreement or arrangement designed to protect a Person against fluctuations in interest rates, currency exchange rates or commodity prices.

Hedging Obligation means, with respect to any Person, any liability of such Person under any Hedging Agreement. The amount of any Person’s obligation in respect of any Hedging Obligation shall be deemed to be the incremental obligation that would be reflected in the financial statements of such Person in accordance with GAAP.

Indemnified Liabilities - see Section 15.16.

ING - see the Preamble.

Intercreditor Agreement means that certain Collateral Agency and Intercreditor Agreement dated the date hereof among the holders of the 2002 Notes, the holders of the 2005 Notes, the Lenders hereunder, the Existing Bank Credit Agreement Lenders and the Collateral Agent.

Interest Period means, as to any LIBOR Loan, the period commencing on the date such Loan is borrowed or continued as, or converted into, a LIBOR Loan and ending on the date one month thereafter which one-month period shall be required to be selected by the Company pursuant to Section 2.2.2 or 2.2.3, as the case may be; provided that:

(a) if any Interest Period would otherwise end on a day that is not a Business Day, such Interest Period shall be extended to the following Business Day unless the result of such extension would be to carry such Interest Period into another calendar month, in which event such Interest Period shall end on the preceding Business Day;

(b) any Interest Period that begins on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period shall end on the last Business Day of the calendar month at the end of such Interest Period; and

(c) the Company may not select any Interest Period for a Revolving Loan which would extend beyond the scheduled Termination Date.

Investment means, with respect to any Person, any investment in another Person, whether by acquisition of any debt or Capital Security, by making any loan or advance, by becoming obligated with respect to a Contingent Liability in respect of obligations of such other Person (other than travel and similar advances to employees in the ordinary course of business) or by making an Acquisition.

Lender - see the Preamble.

Lender Party - see Section 15.16.

Lender Superpriority Obligations has the meaning ascribed to such term in the Intercreditor Agreement.

Leverage Ratio means, as of the last day of any Computation Period, the ratio of (a) Total Debt as of such date to (b) Consolidated EBITDA for such Computation Period.

LIBOR Loan means any Loan which bears interest at a rate determined by reference to the LIBOR Rate.

LIBOR Margin - see the definition of Applicable Margin.

LIBOR Office means with respect to any Lender the office or offices of such Lender which shall be making or maintaining the LIBOR Loans of such Lender hereunder. A LIBOR Office of any Lender may be, at the option of such Lender, either a domestic or foreign office.

LIBOR Rate means a rate of interest equal to the rate determined by the Existing Bank Administrative Agent under the Existing Bank Credit Agreement as the “LIBOR Rate” from time to time as provided in the Waiver and Omnibus Amendment Agreement. The Existing Bank Administrative Agent’s determination of such rate shall be binding and conclusive. Notwithstanding the foregoing, subject to the terms of the Waiver and Omnibus Amendment Agreement, the Administrative Agent may establish the LIBOR Rate hereunder at a rate equal to (a) the per annum rate of interest at which United States Dollar deposits in an amount comparable to the amount of the relevant LIBOR Loan and for a period equal to the relevant Interest Period are offered in the London Interbank Eurodollar market at 11:00 A.M. (London time) two (2) Business Days prior to the commencement of such Interest Period (or three (3) Business Days prior to the commencement of such Interest Period if banks in London, England were not open and dealing in offshore United States Dollars on such second preceding Business Day), as displayed in the Bloomberg Financial Markets system (or other authoritative source selected by the Administrative Agent in its sole discretion) or, if the Bloomberg Financial Markets system or another authoritative source is not available, as the LIBOR Rate is otherwise determined by the Administrative Agent in its sole and absolute discretion, divided by (b) a number determined by subtracting from 1.00 the then stated maximum reserve percentage for determining reserves to be maintained by member banks of the Federal Reserve System for Eurocurrency funding or liabilities as defined in Regulation D (or any successor category of liabilities under Regulation D), such rate to remain fixed for such Interest Period. The Administrative Agent’s determination of the LIBOR Rate shall be conclusive, absent manifest error.

Lien means, with respect to any Person, any interest granted by such Person in any real or personal property, asset or other right owned or being purchased or acquired by such Person (including an interest in respect of a Capital Lease) which secures payment or performance of any obligation and shall include any mortgage, lien, encumbrance, title retention lien, charge or other security interest of any kind, whether arising by contract, as a matter of law, by judicial process or otherwise.

Loan Documents means this Agreement, the Notes, the Guaranties, the Collateral Documents, each Related Agreement and all documents, instruments and agreements delivered in connection with the foregoing.

Loan Party means the Company and each Subsidiary.

Loan or Loans means Revolving Loans.

Margin Stock means any “margin stock” as defined in Regulation U.

Material Adverse Effect means (a) a material adverse change in, or a material adverse effect upon, the financial condition, operations, assets, business, properties or prospects of the Loan Parties taken as a whole, (b) a material impairment of the ability of any Loan Party to perform any of its Obligations under any Loan Document to which it is a party or (c) a material adverse effect upon the legality, validity, binding effect or enforceability against any Loan Party of any Loan Document.

Moody’s means Moody’s Investor Services, Inc.

Multiemployer Pension Plan means a multiemployer plan, as defined in Section 4001(a)(3) of ERISA, to which the Company or any other member of the Controlled Group may have any liability.

Non-U.S. Participant - see Section 7.6(d).

Non-Use Fee Rate - see the definition of Applicable Margin.

Note means a promissory note substantially in the form of Exhibit A.

Note Documents shall have the meaning ascribed to it in Schedule 1 to the Waiver and Omnibus Amendment Agreement.

Noteholder Superpriority Obligations has the meaning ascribed to such term in the Intercreditor Agreement.

Noteholders shall have the meaning ascribed to it in Schedule 1 to the Waiver and Omnibus Amendment Agreement.

Notice of Borrowing - see Section 2.2.2.

Notice of Conversion/Continuation - see Section 2.2.3.

Obligations means all obligations (monetary (including post-petition interest, allowed or not) or otherwise) of any Loan Party under this Agreement and any other Loan Document including Attorney Costs and any reimbursement obligations of each Loan Party in respect of surety bonds, and all Hedging Obligations permitted hereunder which are owed to any Lender or its Affiliate, all in each case howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, now or hereafter existing, or due or to become due.

OFAC - see Section 10.4.

Off-Balance Sheet Liability of a Person means (a) any liability of such Person with respect to accounts or notes receivable sold by such Person or other asset securities, (b) any liability under any sale and leaseback transaction which is not a Capital Lease, (c) any Synthetic Lease Obligations, or (d) any obligation arising with respect to any other transaction which is the functional equivalent of or takes the place of borrowing (as reasonably determined by the Administrative Agent) but which does not constitute a liability on the balance sheets of such Person, but excluding from this clause (d) Operating Leases.

Operating Lease means any lease of (or other agreement conveying the right to use) any real or personal property by any Loan Party, as lessee, other than any Capital Lease.

PBGC means the Pension Benefit Guaranty Corporation and any entity succeeding to any or all of its functions under ERISA.

Participant - see Section 15.6.2.

Pension Plan means a “pension plan”, as such term is defined in Section 3(2) of ERISA, which is subject to Title IV of ERISA or the minimum funding standards of ERISA (other than a Multiemployer Pension Plan), and as to which the Company or any member of the Controlled Group may have any liability, including any liability by reason of having been a substantial employer within the meaning of Section 4063 of ERISA at any time during the preceding five years, or by reason of being deemed to be a contributing sponsor under Section 4069 of ERISA.

Permitted Lien means a Lien expressly permitted hereunder pursuant to Section 11.2.

Person means any natural person, corporation, partnership, trust, limited liability company, association, governmental authority or unit, or any other entity, whether acting in an individual, fiduciary or other capacity.

Prime Rate means, for any day, the rate of interest in effect for such day as the “Prime Rate” determined by the Existing Bank Administrative Agent under the Existing Bank Credit Agreement from time to time as provided in the Waiver and Omnibus Amendment Agreement. Any change in the Prime Rate announced by the Existing Bank Administrative Agent shall take effect at the opening of business on the day specified by the Existing Bank Administrative Agent; provided that the Administrative Agent shall not be obligated to give notice of any change in the Prime Rate. Notwithstanding the foregoing, subject to the terms of the Waiver and Omnibus Amendment Agreement, the Administrative Agent reserves the right to establish the Prime Rate hereunder at a rate of interest in effect for such day as announced from time to time by the Administrative Agent. Any change in the Prime Rate announced by the Administrative Agent shall take effect at the opening of business on the day specified in the public announcement of such change; provided that the Administrative Agent shall not be obligated to give notice of any change in the Prime Rate.

Pro Rata Share means, with respect to each Lender, such Lender’s percentage share of the Revolving Commitments and corresponding obligation to make Revolving Loans, receive

payments of principal, interest, fees, costs, and expenses with respect thereto. The initial Pro Rata Share of each Lender shall be that percentage set forth below opposite such Lender’s name:


Lender	Pro Rata Share
Metropolitan Life Insurance Company	47 ###-###-####	%
ReliaStar Life Insurance Company	21 ###-###-####	%
ING Life Insurance and Annuity Company	17.1467764	%
Teachers Insurance and Annuity Association of America	13 ###-###-####	%

TOTAL:	100.00	%

From and after the time the Revolving Commitment has been terminated or reduced to zero, each Lender’s Pro Rata Share shall be the percentage obtained by dividing (i) the aggregate unpaid principal amount of such Lender’s Revolving Outstandings, by (ii) the aggregate unpaid principal amount of all Revolving Outstandings.

Receivables Sale Agreement means the Lease Receivables Sale Agreement dated as of August 28, 2001 between the Company and Bell & Howell Financial Services Company, as amended from time to time.

Regulation D means Regulation D of the FRB.

Regulation U means Regulation U of the FRB.

Related Agreements means, collectively, (i) the Waiver and Omnibus Amendment Agreement, (ii) the Guaranty and Collateral Agreement, (iii) the Intercreditor Agreement, (iv) the Patent and Trademark Security Agreement (as defined in the Guaranty and Collateral Agreement), (v) the Copyright Security Agreement (as defined in the Guaranty and Collateral Agreement), (vi) each of the Collateral Access Agreement referred to in the Waiver and Omnibus Amendment Agreement, (vii) each of the Deposit Account Control Agreement referred to in the Waiver and Omnibus Amendment Agreement, (viii) each Mortgage referred to in the Waiver and Omnibus Amendment Agreement, (ix) the FTI Engagement Letter referred to in the Waiver and Omnibus Amendment Agreement together with the Confidentiality Agreements referred to therein, (x) the Turnaround Engagement Agreement referred to in the Waiver and Omnibus Amendment Agreement, (xi) the Projections referred to in the Waiver and Omnibus Amendment Agreement, (xii) the Sharing Agreement executed in connection with the Waiver and Omnibus Amendment Agreement, (xiii) to the extent not otherwise listed, the Collateral Documents, and (xiv) each other agreement, document and instrument executed and delivered in connection with the foregoing, in each case, as the same may be amended, amended and restated, supplemented and otherwise modified and in effect from time to time.

Related Transactions means the transactions contemplated by the Related Agreements.

Replacement Lender - see Section 8.7(b).

Reportable Event means a reportable event as defined in Section 4043 of ERISA and the regulations issued thereunder as to which the PBGC has not waived the notification requirement

of Section 4043(a), or the failure of a Pension Plan to meet the minimum funding standards of Section 412 of the Code (without regard to whether the Pension Plan is a plan described in Section 4021(a)(2) of ERISA) or under Section 302 of ERISA.

Required Creditor Group shall have the meaning ascribed to it in Schedule 1 to the Waiver and Omnibus Amendment Agreement.

Required Lenders means, at any time, Lenders whose Pro Rata Shares of the Revolving Commitment exceeds 50%; provided, however, so long as there shall be two or fewer Lenders under this Agreement, “Required Lenders” shall mean all Lenders.

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

Revolving Availability means at the relevant time of reference thereto the maximum amount of Superpriority Advances under this Agreement which are permitted to be outstanding at such time pursuant to Section 2.1.3.

Revolving Commitment means $23,141,493.08, as such amount may be permanently reduced from time to time pursuant to Sections 6.1 and 13.2.

Revolving Loan - see Section 2.1.1.

Revolving Outstandings means, at any time, the aggregate principal amount of all outstanding Revolving Loans.

Sale-Leaseback Transaction means the sale and leaseback of a headquarters facility of the Company in the continental United States.

SEC means the Securities and Exchange Commission or any other governmental authority succeeding to any of the principal functions thereof.

Secured Obligations shall have the meaning ascribed to it in Schedule 1 to the Waiver and Omnibus Amendment Agreement.

Senior Note Documents means the 2002 Note Agreement, the 2005 Note Agreement, the Senior Notes, all amendments thereof and all other agreements and documents executed in connection therewith.

Senior Notes means the 2002 Notes issued by the Company from time to time pursuant to the 2002 Note Agreement and the 2005 Notes issued by the Company from time to time pursuant to the 2005 Note Agreement.

Senior Officer means, with respect to any Loan Party, any of the chief executive officer, the chief financial officer, the chief operating officer or the treasurer of such Loan Party.

S&P means Standard & Poor’s Ratings Group, a division of The McGraw-Hill Companies, Inc.

Specified Defaults shall have the meaning ascribed to it in Schedule 1 to the Waiver and Omnibus Amendment Agreement.

Stated Amount means, with respect to any 2006 Letter of Credit at any date of determination, (a) the maximum aggregate amount available for drawing thereunder under any and all circumstances plus (b) the aggregate amount of all unreimbursed payments and disbursements under such 2006 Letter of Credit.

Subsidiary means, with respect to any Person, a corporation, partnership, limited liability company or other entity of which such Person owns, directly or indirectly, such number of outstanding Capital Securities as have more than 50% of the ordinary voting power for the election of directors or other managers of such corporation, partnership, limited liability company or other entity. Unless the context otherwise requires, each reference to Subsidiaries herein shall be a reference to Subsidiaries of the Company.

Superpriority Advances means as of the date of determination, the aggregate amount of (i) the Revolving Outstandings, plus (ii) the Revolving Outstandings (as such term is defined in the Existing Bank Credit Agreement) under the Existing Bank Credit Agreement which constitute Superpriority Advances (as such term is defined in the Omnibus Waiver and Amendment Agreement).

Superpriority Loan Advances means, as of the date of determination, the aggregate amount of Superpriority Advances that are in the form of a Loan advanced under either this Agreement or the Existing Bank Credit Agreement.

Superpriority Pro Rata Share means, with respect to a Lender’s obligation to make Loans and with respect to all other matters as to a particular Lender with respect to Revolving Loans, (x) prior to the Revolving Commitment being terminated or reduced to zero, the percentage obtained by dividing (i) such Lender’s Commitment, by (ii) the aggregate 2006 Superpriority Commitments, and (y) from and after the time the Revolving Commitment has been terminated or reduced to zero, the percentage obtained by dividing (i) the aggregate amount of Revolving Outstandings of such Lender’s Loans by (ii) the aggregate amount of all Superpriority Advances.

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

Taxes means any and all present and future taxes, duties, levies, imposts, deductions, assessments, charges or withholdings, and any and all liabilities (including interest and penalties and other additions to taxes) with respect to the foregoing, but excluding Excluded Taxes.

Termination Date means the earlier to occur of (a) November 30, 2006 or (b) such other date on which the Commitments terminate pursuant to Section 6 or 13.

Termination Event means, with respect to a Pension Plan that is subject to Title IV of ERISA, (a) a Reportable Event, (b) the withdrawal of Company or any other member of the Controlled Group from such Pension Plan during a plan year in which Company or any other member of the Controlled Group was a “substantial employer” as defined in Section 4001(a)(2) of ERISA or was deemed such under Section 4068(f) of ERISA, (c) the termination of such Pension Plan, the filing of a notice of intent to terminate the Pension Plan or the treatment of an amendment of such Pension Plan as a termination under Section 4041 of ERISA, (d) the institution by the PBGC of proceedings to terminate such Pension Plan or (e) any event or condition that might constitute grounds under Section 4042 of ERISA for the termination of, or appointment of a trustee to administer, such Pension Plan.

Total Debt means all Debt of the Company and its Subsidiaries, determined on a consolidated basis, excluding (a) contingent obligations in respect of Contingent Liabilities (except to the extent constituting Contingent Liabilities in respect of Debt of a Person other than any Loan Party), (b) Hedging Obligations, (c) Debt of the Company to Subsidiaries and Debt of Subsidiaries to the Company or to other Subsidiaries, and (d) Debt under the Receivables Sale Agreement.

Total Plan Liability means, at any time, the present value of all vested and unvested accrued benefits under all Pension Plans, determined as of the then most recent valuation date for each Pension Plan, using PBGC actuarial assumptions for single employer plan terminations.

2005 Note Agreement means the Note Purchase Agreement dated as of January 31, 2005 among the Company and the purchasers thereunder with respect to the 2005 Notes.

2005 Notes means the Company’s 5.38% Senior Notes due 2015 in an initial aggregate outstanding principal amount of $175,000,000.

2002 Note Agreement means the Note Purchase Agreement dated as of October 1, 2002, as amended by a First Amendment to Note Purchase Agreement dated as of January 31, 2005, among the Company and purchasers thereunder with respect to the 2002 Notes.

2002 Notes means the Company’s 5.45% Senior Notes due 2012 in an initial aggregate outstanding principal amount of $150,000,000.

2006 Letters of Credit means those letter of credit (other than letters of credit issued prior to, and outstanding on, the Closing Date and extended, renewed or continued thereafter) issued under the Existing Bank Credit Agreement on or after the Closing Date pursuant to the terms thereof in an aggregate Stated Amount not to exceed $1,000,000 at any time.

2006 Superpriority Commitments means, as of the date of determination, the aggregate amount of (i) the Revolving Commitments, plus (ii) the Superpriority Commitments (as such term is defined in the Waiver and Omnibus Amendment Agreement) of the Existing Bank Credit Agreement Lenders to make Superpriority Advances under the Existing Bank Credit Agreement.

type - see Section 2.2.1.

Unfunded 2006 Advance has the meaning ascribed to such term in the Waiver and Omnibus Amendment Agreement.

Unfunded Liability means the amount (if any) by which the present value of all vested and unvested accrued benefits under all Pension Plans exceeds the fair market value of all assets allocable to those benefits, all determined as of the then most recent valuation date for each Pension Plan, using PBGC actuarial assumptions for single employer plan terminations.

Unmatured Event of Default means any event that, if it continues uncured, will, with lapse of time or notice or both, constitute an Event of Default.

Voyager means Voyager Expanded Learning, Inc., a Texas corporation.

Waiver and Omnibus Amendment Agreement means that certain Waiver and Omnibus Amendment Agreement, dated as of the date hereof, among the Company, certain of the subsidiaries of the Company, the Existing Bank Credit Agreement Lenders, the Existing Bank Administrative Agent, the holders of the 2002 Notes, the holders of the 2005 Notes, the Lenders, the Administrative Agent and the Collateral Agent, as amended, amended and restated, supplemented and otherwise modified in accordance with the terms thereof.

Withholding Certificate - see Section 7.6(d).

Wholly-Owned Subsidiary means, as to any Person, a Subsidiary all of the Capital Securities of which (except directors’ qualifying Capital Securities) are at the time directly or indirectly owned by such Person and/or another Wholly-Owned Subsidiary of such Person.

1.2 Other Interpretive Provisions. (a) The meanings of defined terms are equally applicable to the singular and plural forms of the defined terms.

(b) Section, Annex, Schedule and Exhibit references are to this Agreement unless otherwise specified.

(d) In the computation of periods of time from a specified date to a later specified date, the word “from” means “from and including”; the words “to” and “until” each mean “to but excluding”, and the word “through” means “to and including.”

(e) Unless otherwise expressly provided herein, (i) references to agreements (including this Agreement and the other Loan Documents) and other contractual instruments shall be deemed to include all subsequent amendments, restatements, supplements and other modifications thereto, but only to the extent such amendments, restatements, supplements and other modifications are not prohibited by the terms of any Loan Document, and (ii) references to any statute or regulation shall be construed as including all statutory and regulatory provisions amending, replacing, supplementing or interpreting such statute or regulation.

(f) This Agreement and the other Loan Documents may use several different limitations, tests or measurements to regulate the same or similar matters. All such limitations, tests and measurements are cumulative and each shall be performed in accordance with its terms.

(g) This Agreement and the other Loan Documents are the result of negotiations among and have been reviewed by counsel to the Administrative Agent, the Company, the Lenders and the other parties thereto and are the products of all parties. Accordingly, they shall not be construed against the Administrative Agent or the Lenders merely because of the Administrative Agent’s or Lenders’ involvement in their preparation.

(h) To the extent explicitly provided for in the Waiver and Omnibus Amendment Agreement and regardless of whether specifically provided in this Agreement, this Agreement and the other Loan Documents are amended as set forth in the Waiver and Omnibus Amendment Agreement. In the event of any inconsistency between the terms of Omnibus Waiver and Amendment Agreement and the terms of this Agreement, the terms of the Waiver and Omnibus Amendment Agreement shall govern.

SECTION 2 COMMITMENTS OF THE LENDERS; BORROWING, CONVERSION PROCEDURES.

2.1 Commitments. On and subject to the terms and conditions of this Agreement, each of the Lenders, severally and for itself alone, agrees to make loans to the Company as follows:

2.1.1 Revolving Loan Commitment. Subject to the Waiver and Omnibus Amendment Agreement, each Lender with a Commitment agrees to make loans on a revolving basis (“Revolving Loans”) from time to time until the Termination Date in such Lender’s Pro Rata Share of such aggregate amounts as the Company may request from all Lenders; provided that the Revolving Outstandings will not at any time exceed an amount equal to (x) the lesser of (i) Revolving Commitment and (ii) the Revolving Availability, minus (y) the amount of any Superpriority Advances funded by the Existing Bank Credit Agreement Lenders pursuant to Section 10.1(c)(ii) of the Waiver and Omnibus Amendment Agreement which have not been purchased by the Lenders pursuant to Section 10.1(c)(ii) thereof. From and after the date on which all or any Lender purchases such loans pursuant to Section 10.1(c) of the Waiver and Omnibus Amendment Agreement, such loans will be Revolving Loans, Superpriority Loan Advances and Obligations hereunder, Superpriority Loan Advances and Superpriority Obligations under the Waiver and Omnibus Amendment Agreement and Noteholder Superpriority Obligations and Superpriority Obligations the Intercreditor Agreement.

2.1.2 [Intentionally Omitted]

2.1.3 Lenders Superpriority Advances Limitation. Notwithstanding anything to the contrary contained herein, in no event shall the aggregate principal amount of Revolving Loans outstanding hereunder at any one time exceed (i) during any time from and including May 2, 2006 through and including June 2, 2006, $20,662,047.39, (ii) on June 3, 2006, $17,962,422.80, (iii) during any time from and including June 4, 2006 through and including July 1, 2006,

$21,574,051.57, (iv) during any time from and including July 2, 2006 through and including September 29, 2006, $23,141,493.08, (v) during any time from and including September 30, 2006 through and including November 4, 2006, $16,544,984.03, (vi) during any time from and including November 5, 2006 through and including November 29, 2006, $9,388,397.54, and (vi) as of November 30, 2006 and at all times thereafter, $0.

2.1.4 Unfunded 2006 Advances. Notwithstanding anything to the contrary contained herein, in the event that any or all of the Existing Bank Credit Agreement Lenders advance loans under the Existing Bank Credit Agreement to fund all or a portion of the Unfunded 2006 Advances as provided in Section 10.1 of the Waiver and Omnibus Amendment Agreement, such loans made by such Existing Bank Credit Agreement Lenders shall be Superpriority Loan Advances under the Waiver and Omnibus Amendment Agreement and under the Existing Bank Credit Agreement and Lender Superpriority Obligations under the Intercreditor Agreement until such time as such loans have been repaid or purchased by the Lenders as provided in Section 10.1(c) of the Waiver and Omnibus Amendment Agreement. Loans advanced under the Existing Bank Credit Agreement to fund any Unfunded 2006 Advance and thereafter purchased by the Lenders pursuant to Section 10.1(c) of the Waiver and Omnibus Amendment Agreement will be treated for all purposes as Revolving Loans, Superpriority Loan Advances and Obligations hereunder, Superpriority Loan Advances and Superpriority Obligations under the Waiver and Omnibus Amendment Agreement and Noteholder Superpriority Obligations and Superpriority Obligations the Intercreditor Agreement.

2.2 Loan Procedures.

2.2.1 Various Types of Loans. Each Revolving Loan shall be either a Base Rate Loan or a LIBOR Loan (each a “type” of Loan), as the Company shall specify in the related notice of borrowing or conversion pursuant to Section 2.2.2 or 2.2.3. LIBOR Loans having the same Interest Period are sometimes called a “Group” or collectively “Groups”. Base Rate Loans and LIBOR Loans may be outstanding at the same time, provided that not more than ten different Groups of LIBOR Loans shall be outstanding at any one time. All borrowings, conversions and repayments of Revolving Loans shall be effected so that each Lender will have a ratable share (according to its Pro Rata Share) of all types and Groups of Loans.

2.2.2 Borrowing Procedures. The Company shall give written notice (each such written notice, a “Notice of Borrowing”) substantially in the form of Exhibit D or telephonic notice (followed promptly by a Notice of Borrowing) to the Administrative Agent of each proposed borrowing, using reasonable efforts to limit the frequency of such proposed borrowings to no more than one a week, not later than (a) in the case of a Base Rate borrowing, 11:00 A.M., Chicago time, at least three Business Days prior to the proposed date of such borrowing, and (b) in the case of a LIBOR borrowing, 11:00 A.M., Chicago time, at least three Business Days prior to the proposed date of such borrowing. Each such notice shall be effective upon receipt by the Administrative Agent, shall be irrevocable, and shall specify the date, amount and type of borrowing and, in the case of a LIBOR borrowing, the initial Interest Period therefor. Promptly upon receipt of such notice, the Administrative Agent shall advise each Lender thereof. Not later than 1:00 P.M., Chicago time, on the date of a proposed borrowing, each Lender shall, provide the Administrative Agent at the office specified by the Administrative Agent with immediately available funds covering such Lender’s Pro Rata Share of such borrowing and, so long as the

Administrative Agent has not received written notice that the conditions precedent set forth in Section 12 with respect to such borrowing have not been satisfied and subject to the Waiver and Omnibus Amendment Agreement, the Administrative Agent shall pay over the funds received by the Administrative Agent to the Company on the requested borrowing date. Each borrowing shall be on a Business Day. Each Base Rate borrowing shall be in an aggregate amount of at least $206,620.47 and an integral multiple of $41,324.09, and each LIBOR borrowing shall be in an aggregate amount of at least $2,066,204.74 and an integral multiple of at least $413,240.95.

2.2.3 Conversion and Continuation Procedures. (a) Subject to Section 2.2.1, the Company may, upon irrevocable written notice to the Administrative Agent in accordance with clause (b) below:

(A) elect, as of any Business Day, to convert any Loans (or any part thereof in an aggregate amount not less than $2,066,204.74 or a higher integral multiple of $413,240.95) into Loans of the other type; or

(B) elect, as of the last day of the applicable Interest Period, to continue any LIBOR Loans having Interest Periods expiring on such day (or any part thereof in an aggregate amount not less than $2,066,204.74 or a higher integral multiple of $413,240.95) for a new Interest Period;

provided that after giving effect to any prepayment, conversion or continuation, the aggregate principal amount of each Group of LIBOR Loans shall be at least $2,066,204.74 and an integral multiple of $413,240.95, in each case, determined in connection with any prepayment, conversion or continuation made under the Existing Bank Credit Agreement concurrently herewith and subject to adjustment in the event that any loans have been advanced by the Existing Bank Credit Agreement Lenders pursuant to Section 10.1(c) of the Waiver and Omnibus Amendment Agreement remains outstanding and unpurchased.

(b) The Company shall give written notice (each such written notice, a “Notice of Conversion/Continuation”) substantially in the form of Exhibit E or telephonic notice (followed promptly by a Notice of Conversion/Continuation) to the Administrative Agent of each proposed conversion or continuation not later than (i) in the case of conversion into Base Rate Loans, 11:00 A.M., Chicago time, on the proposed date of such conversion and (ii) in the case of conversion into or continuation of LIBOR Loans, 11:00 A.M., Chicago time, at least three Business Days prior to the proposed date of such conversion or continuation, specifying in each case:

(A) the proposed date of conversion or continuation;

(B) the aggregate amount of Loans to be converted or continued;

(D) in the case of conversion into, or continuation of, LIBOR Loans, the duration of the requested Interest Period therefor.

(c) If upon the expiration of any Interest Period applicable to LIBOR Loans, the Company has failed to select timely a new Interest Period to be applicable to such LIBOR Loans, the Company shall be deemed to have elected to convert such LIBOR Loans into Base Rate Loans effective on the last day of such Interest Period.

(d) The Administrative Agent will promptly notify each Lender of its receipt of a notice of conversion or continuation pursuant to this Section 2.2.3 or, if no timely notice is provided by the Company, of the details of any automatic conversion.

(e) Any conversion of a LIBOR Loan on a day other than the last day of an Interest Period therefor shall be subject to Section 8.4.

2.2.4 Advances by Administrative Agent. The Administrative Agent may, unless notified to the contrary by any Lender prior to a proposed funding date, assume that such Lender has made available to the Administrative Agent on such funding date identified by the Company in a Notice of Borrowing the amount of such Lender’s Pro Rata Share of the Revolving Loans to be made on such funding date, and the Administrative Agent may (but it shall not be required to), in reliance upon such assumption, make available to the Company a corresponding amount. If any Lender makes available to the Administrative Agent such amount on a date after such funding date, such Lender shall pay to the Administrative Agent on demand an amount equal to the product of (a) the average computed for the period referred to in clause (c) below, of the weighted average interest rate paid by the Administrative Agent for federal funds acquired by the Administrative Agent during each day included in such period, times (b) the amount of such Lender’s Pro Rata Share of such Revolving Loans, times (c) a fraction, the numerator of which is the number of days that elapse from and including such funding date to the date on which the amount of such Lender’s Pro Rata Share of such Revolving Loans shall become immediately available to the Administrative Agent, and the denominator of which is 360. A statement of the Administrative Agent submitted to such Lender with respect to any amounts owing under this paragraph shall be prima facie evidence of the amount due and owing to the Administrative Agent by such Lender. If the amount of such Lender’s Pro Rata Share of such Revolving Loans is not made available to the Administrative Agent by such Lender within three (3) Business Days following such funding date, the Administrative Agent shall be entitled to recover such amount from the Company on demand, with interest thereon at the rate per annum applicable to the Revolving Loans made on such funding date.

2.3 [Intentionally Omitted]

2.4 Commitments Several. The failure of any Lender to make a requested Loan on any date shall not relieve any other Lender of its obligation (if any) to make a Loan on such date, but no Lender shall be responsible for the failure of any other Lender to make any Loan to be made by such other Lender.

2.5 Certain Conditions. Notwithstanding any other provision of this Agreement, no Lender shall have an obligation to make any Loan, or to permit the continuation of or any conversion into any LIBOR Loan, if an Event of Default or Unmatured Event of Default exists and has not been waived, whether temporarily or otherwise, except, with the consent of the Required Lenders, the nonexistence of such an unwaived Event of Default or Unmatured Event

of Default shall not be a condition of any Lender making its Pro Rata Share of Loans, so long as the aggregate principal amount of Loans made or continued or converted at such time does not exceed the lesser of (a) the unused amount of Revolving Commitment, minus the amount of any Superpriority Advances funded by the Existing Bank Credit Agreement Lenders pursuant to Section 10.1(c)(ii) of the Waiver and Omnibus Amendment Agreement which have not been purchased by the Lenders pursuant to Section 10.1(c)(ii) thereof, (b) the unused amount of Revolving Availability, minus the amount of any Superpriority Advances funded by the Existing Bank Credit Agreement Lenders pursuant to Section 10.1(c)(ii) of the Waiver and Omnibus Amendment Agreement which have not been purchased by the Lenders pursuant to Section 10.1(c)(ii) thereof and (c) $2,066,204.74.

SECTION 3 EVIDENCING OF LOANS.

3.1 Notes. The Loans of each Lender shall be evidenced by a Note, with appropriate insertions, payable to the order of such Lender in a face principal amount equal to the sum of such Lender’s Commitment.

3.2 Recordkeeping. The Administrative Agent, on behalf of each Lender, shall record in its records, the date and amount of each Loan made by each Lender, each repayment or conversion thereof and, in the case of each LIBOR Loan, the dates on which each Interest Period for such Loan shall begin and end. The aggregate unpaid principal amount so recorded shall be rebuttably presumptive evidence of the principal amount of the Loans owing and unpaid. The failure to so record any such amount or any error in so recording any such amount shall not, however, limit or otherwise affect the Obligations of the Company hereunder or under any Note to repay the principal amount of the Loans hereunder, together with all interest accruing thereon.

SECTION 4 INTEREST.

4.1 Interest Rates. Subject to the Waiver and Omnibus Amendment Agreement, the Company promises to pay interest on the unpaid principal amount of each Loan for the period commencing on the date of such Loan until such Loan is paid in full as follows:

(a) at all times while such Loan is a Base Rate Loan, at a rate per annum equal to the sum of the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect; and

(b) at all times while such Loan is a LIBOR Loan, at a rate per annum equal to the sum of the LIBOR Rate applicable to each Interest Period for such Loan plus the LIBOR Margin from time to time in effect;

provided that at any time an Event of Default exists, upon the request of the Required Lenders, the interest rate applicable to each Loan shall be increased by 2% (and, in the case of Obligations not bearing interest, such Obligations shall bear interest at the Base Rate applicable to Revolving Loans plus 2%), provided further that such increase may thereafter be rescinded by the Required Lenders, notwithstanding Section 15.1. Notwithstanding the foregoing, upon the occurrence of an Event of Default under Section 13.1.1 or 13.1.4, such increase shall occur automatically.

4.2 Interest Payment Dates. Subject to the Waiver and Omnibus Amendment Agreement, accrued interest on each Base Rate Loan shall be payable in arrears on the first day of each calendar month and at maturity. Accrued interest on each LIBOR Loan shall be payable on the last day of each Interest Period relating to such Loan, upon a prepayment of such Loan, and at maturity. After maturity, and at any time an Event of Default exists, accrued interest on all Loans shall be payable on demand.

4.3 Setting and Notice of LIBOR Rates. Subject to the Waiver and Omnibus Amendment Agreement, the applicable LIBOR Rate for each Interest Period shall be determined by the Existing Bank Administrative Agent unless the Administrative Agent exercises its rights hereunder to so determine, and notice thereof shall be given by the Administrative Agent promptly to the Company and each Lender. Each determination of the applicable LIBOR Rate by the Existing Bank Administrative Agent shall be conclusive and binding upon the parties hereto, in the absence of demonstrable error. If and to the extent the Existing Bank Administrative Agent fails to notify the Administrative Agent and the Lenders of the applicable LIBOR Rate per Section 10 of the Waiver and Omnibus Amendment Agreement and the Administrative Agent exercises its right to determine the LIBOR Rate hereunder, the Administrative Agent shall, upon written request of the Company or any Lender, deliver to the Company or such Lender a statement showing the computations used by the Administrative Agent in determining any applicable LIBOR Rate hereunder.

4.4 Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days; provided that calculations of interest on Base Rate Loans made by reference to the Prime Rate will be made on the basis of a 365/366-day year and actual days elapsed. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

SECTION 5 FEES.

5.1 Non-Use Fee. Subject to the Waiver and Omnibus Amendment Agreement, the Company agrees to pay to the Administrative Agent for the account of each Lender a non-use fee, for the period from the Closing Date to the Termination Date, at the Non-Use Fee Rate of such Lender’s Pro Rata Share (as adjusted from time to time) of the unused amount of the Revolving Commitment; provided that a Defaulting Lender shall not be entitled to such non-use fee during any period it is a Defaulting Lender. For purposes of calculating usage under this Section, the Revolving Commitment shall be used to the extent of all Superpriority Loan Advances then outstanding hereunder. Such non-use fee shall be payable in arrears on the first day of each calendar quarter and on the Termination Date for any period then ending for which such non-use fee shall not have previously been paid. The non-use fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The provisions of this Section 5.1 are subject to the terms of the Waiver and Omnibus Amendment Agreement.

5.2 [Intentionally Omitted]

5.3 [Intentionally Omitted]

SECTION 6 REDUCTION, TERMINATION OR INCREASE OF THE REVOLVING COMMITMENT; PREPAYMENTS.

6.1 Reduction of the Revolving Commitment.

The Company may from time to time on at least five Business Days’ prior written notice received by the Administrative Agent (which shall promptly advise each Lender thereof) permanently reduce the Revolving Commitment to an amount not less than the Revolving Outstandings and which reduction shall be equal to the Lenders’ Superpriority Pro Rata Share of the aggregate reductions in Commitment made hereunder and under Section 6.1 of the Existing Bank Credit Agreement concurrently made herewith. Any such reduction shall be in an amount not less than $4,132,409.48 or a higher integral multiple of $2,066,204.74; provided, that at any time from and after September 30, 2006 and subject to compliance with the other requirements set forth in this Section 6.1, the Company can reduce the Revolving Commitment to an amount not less than the Revolving Availability. Concurrently with any reduction of the Revolving Commitment to zero, the Company shall pay all interest on the Revolving Loans. All reductions of the Revolving Commitment shall reduce the Commitments ratably among the Lenders according to their respective Pro Rata Shares.

6.2 Prepayments.

6.2.1 Voluntary Prepayments. The Company may from time to time prepay the Loans in whole or in part; provided that (i) the Company shall give the Administrative Agent (which shall promptly advise each Lender) notice thereof not later than 11:00 A.M., Chicago time, on the day of such prepayment (which shall be a Business Day), specifying the Loans to be prepaid and the date and amount of prepayment and (ii) such prepayments are not less than the Lenders’ Superpriority Pro Rata Share of all prepayments made hereunder and under Section 6.2.1 of the Existing Bank Credit Agreement made concurrently herewith. Any such partial prepayment shall be in an amount equal to $206,620.47 or a higher integral multiple of $41,324.09.

6.2.2 Mandatory Prepayments.

(i) If on any day on which the Revolving Commitment is reduced pursuant to Section 6.1 the Revolving Outstandings exceeds the Revolving Commitment minus the outstanding amount of any loans advanced pursuant to Section 6.1.2 of the Existing Bank Credit Agreement to fund Unfunded 2006 Advances that have not been purchased by the Lenders pursuant to 10.1(c) of the Waiver and Omnibus Amendment Agreement, the Company shall immediately prepay Revolving Loans in an amount sufficient to eliminate such excess.

(ii) If on any day on which the Revolving Outstandings exceeds an amount equal to (x) the lesser of (A) the Revolving Commitment or (B) the Revolving Availability, minus (y) the outstanding amount of any loans advanced pursuant to Section 6.1.2 of the Existing Bank Credit Agreement to fund Unfunded 2006 Advances that have not been purchased by the Lenders pursuant to 10.1(c) of the Waiver and Omnibus Amendment Agreement, the Company shall immediately prepay Revolving Loans in an amount sufficient to eliminate such excess.

(iii) If on any day the Revolving Outstandings exceed the Lenders’ Superpriority Pro Rata Share of the Superpriority Loan Advances outstanding on such date, the Company shall immediately prepay Revolving Loans in an amount sufficient to eliminate such excess; provided, however, if the Lenders funded any Excess Amount under Section 12.2.3 and the Stated Amount of any 2006 Letter of Credit is subsequently reduced, the Company shall prepay Revolving Loans in an amount equal to the lesser of (x) the amount of the Excess Amount so funded and (y) the amount by which the Stated Amount of such 2006 Letter of Credit is reduced.

6.3 Manner of Prepayments. Each voluntary partial prepayment shall be in a principal amount of the Lenders’ Superpriority Pro Rata Share of $500,000 or a higher integral multiple of the Lenders’ Superpriority Pro Rata Share of $100,000. Any partial prepayment of a Group of LIBOR Loans shall be subject to the proviso to Section 2.2.3(a). Any prepayment of a LIBOR Loan on a day other than the last day of an Interest Period therefor shall include interest on the principal amount being repaid and shall be subject to Section 8.4. Subject to the Intercreditor Agreement, except as otherwise provided by this Agreement, all principal payments in respect of the Loans shall be applied first, to repay outstanding Base Rate Loans and then to repay outstanding LIBOR Loans in direct order of Interest Period maturities.

6.4 Repayments. The Revolving Loans of each Lender shall be paid in full and the Revolving Commitment shall terminate on the Termination Date.

SECTION 7 MAKING AND PRORATION OF PAYMENTS; SETOFF; TAXES.

7.1 Making of Payments. All payments of principal or interest on the Notes, and of all fees, shall be made by the Company to the Administrative Agent in immediately available funds at the office specified by the Administrative Agent not later than noon, Chicago time, on the date due; and funds received after that hour shall be deemed to have been received by the Administrative Agent on the following Business Day. The Administrative Agent shall promptly remit to each Lender its share of all such payments received in collected funds by the Administrative Agent for the account of such Lender. All payments under Section 8.1 shall be made by the Company directly to the Lender entitled thereto without setoff, counterclaim or other defense.

7.2 Application of Certain Payments. So long as no Unmatured Event of Default or Event of Default has occurred and is continuing and subject to the Intercreditor Agreement, (a) payments matching specific scheduled payments then due shall be applied to those scheduled payments, and (b) voluntary and mandatory prepayments shall be applied as set forth in Sections 6.2 and 6.3. After the occurrence and during the continuance of an Unmatured Event of Default or Event of Default, all amounts collected or received by the Administrative Agent or any Lender as proceeds from the sale of, or other realization upon, all or any part of any collateral, if any, shall be applied as the Administrative Agent shall determine in its discretion. Concurrently with each remittance to any Lender of its share of any such payment, the Administrative Agent shall advise such Lender as to the application of such payment.

7.3 Due Date Extension. If any payment of principal or interest with respect to any of the Loans, or of any fees, falls due on a day which is not a Business Day, then such due date shall be extended to the immediately following Business Day (unless, in the case of a LIBOR Loan, such immediately following Business Day is the first Business Day of a calendar month, in which case such due date shall be the immediately preceding Business Day) and, in the case of principal, additional interest shall accrue and be payable for the period of any such extension.

7.4 Setoff. The Company agrees that the Administrative Agent and each Lender have all rights of set-off and bankers’ lien provided by applicable law, and in addition thereto, the Company agrees that at any time any Event of Default exists, the Administrative Agent and each Lender may apply to the payment of any Obligations of the Company hereunder, whether or not then due, any and all balances, credits, deposits, accounts or moneys of the Company then or thereafter with the Administrative Agent or such Lender.

7.5 Proration of Payments. If any Lender shall obtain any payment or other recovery (whether voluntary, involuntary, by application of offset or otherwise, on account of principal of or interest on any Loan, but excluding (i) any payment pursuant to Section 8.7 or 15.6 and (ii) payments of interest on any Affected Loan in excess of its applicable Pro Rata Share of payments and other recoveries obtained by all Lenders on account of principal of and interest on the Loans then held by them, then such Lender shall purchase from the other Lenders such participations in the Loans held by them as shall be necessary to cause such purchasing Lender to share the excess payment or other recovery ratably with each of them; provided that if all or any portion of the excess payment or other recovery is thereafter recovered from such purchasing Lender, the purchase shall be rescinded and the purchase price restored to the extent of such recovery.

7.6 Taxes.

(a) All payments made by the Company hereunder or under any Loan Documents shall be made without setoff, counterclaim, or other defense. To the extent permitted by applicable law, all payments hereunder or under the Loan Documents (including any payment of principal, interest, or fees) to, or for the benefit, of any Person shall be made by the Company free and clear of and without deduction or withholding for, or account of, any Taxes now or hereinafter imposed by any taxing authority.

(b) If the Company makes any payment hereunder or under any Loan Document in respect of which it is required by applicable law to deduct or withhold any Taxes, the Company shall increase the payment hereunder or under any such Loan Document such that after the reduction for the amount of Taxes withheld (and any taxes withheld or imposed with respect to the additional payments required under this Section 7.6(b)), the amount paid to the Lenders or the Administrative Agent equals the amount that was payable hereunder or under any such Loan Document without regard to this Section 7.6(b). To the extent the Company withholds any Taxes on payments hereunder or under any Loan Document, the Company shall pay the full amount deducted to the relevant taxing authority within the time allowed for payment under applicable law and shall deliver to the Administrative Agent within 30 days after it has made payment to such authority a receipt issued by such authority (or other evidence satisfactory to the Administrative Agent) evidencing the payment of all amounts so required to be deducted or withheld from such payment.

(c) If any Lender or the Administrative Agent is required by law to make any payments of any Taxes on or in relation to any amounts received or receivable hereunder or under any other Loan Document, or any Tax is assessed against a Lender or the Administrative Agent with respect to amounts received or receivable hereunder or under any other Loan Document, the Company will indemnify such Person against (i) such Tax (and any reasonable counsel fees and expenses associated with such Tax) and (ii) any taxes imposed as a result of the receipt of the payment under this Section 7.6(c). A certificate prepared in good faith as to the amount of such payment by such Lender or the Administrative Agent shall, absent manifest error, be final, conclusive, and binding on all parties.

(d) (i) To the extent permitted by applicable law, each Lender that is not a United States person within the meaning of Code section 7701(a)(30) (a “Non-U.S. Participant”) shall deliver to the Company and the Administrative Agent on or prior to the Closing Date (or in the case of a Lender that is an Assignee, on the date of such assignment to such Lender) two accurate and complete original signed copies of IRS Form W-8BEN, W-8ECI, or W-8IMY (or any successor or other applicable form prescribed by the IRS) certifying to such Lender’s entitlement to a complete exemption from, or a reduced rate in, United States withholding tax on interest payments to be made hereunder or any Loan. If a Lender that is a Non-U.S. Participant is claiming a complete exemption from withholding on interest pursuant to Sections 871(h) or 881(c) of the Code, the Lender shall deliver (along with two accurate and complete original signed copies of IRS Form W-8BEN) a certificate in form and substance reasonably acceptable to Administrative Agent (any such certificate, a “Withholding Certificate”). In addition, each Lender that is a Non-U.S. Participant agrees that from time to time after the Closing Date, (or in the case of a Lender that is an Assignee, after the date of the assignment to such Lender), when a lapse in time (or change in circumstances occurs) renders the prior certificates hereunder obsolete or inaccurate in any material respect, such Lender shall, to the extent permitted under applicable law, deliver to the Company and the Administrative Agent two new and accurate and complete original signed copies of an IRS Form W-8BEN, W-8ECI, or W-8IMY (or any successor or other applicable forms prescribed by the IRS), and if applicable, a new Withholding Certificate, to confirm or establish the entitlement of such Lender or the Administrative Agent to an exemption from, or reduction in, United States withholding tax on interest payments to be made hereunder or any Loan.

(ii) Each Lender that is not a Non-U.S. Participant (other than any such Lender which is taxed in the United States as a corporation for U.S. federal income tax purposes) shall provide two properly completed and duly executed copies of IRS Form W-9 (or any successor or other applicable form) to the Company and the Administrative Agent certifying that such Lender is exempt from United States backup withholding tax. To the extent that a form provided pursuant to this Section 7.6(d)(ii) is rendered obsolete or inaccurate in any material respect as result of a change in circumstances with respect to the status of a Lender, such Lender shall, to the extent permitted by applicable law, deliver to the Company and the Administrative Agent revised forms necessary to confirm or establish the entitlement to such Lender’s or Agent’s exemption from United States backup withholding tax.

(iii) The Company shall not be required to pay additional amounts to a Lender, or indemnify any Lender, under this Section 7.6 to the extent that such obligations would not have arisen but for the failure of such Lender to comply with Section 7.6(d).

(iv) Each Lender agrees to indemnify the Administrative Agent and hold the Administrative Agent harmless for the full amount of any and all present or future Taxes and related liabilities (including penalties, interest, additions to tax and expenses, and any Taxes imposed by any jurisdiction on amounts payable to the Administrative Agent under this Section 7.6) which are imposed on or with respect to principal, interest or fees payable to such Lender hereunder and which are not paid by the Company pursuant to this Section 7.6, whether or not such Taxes or related liabilities were correctly or legally asserted. This indemnification shall be made within 30 days from the date the Administrative Agent makes written demand therefor.

SECTION 8 INCREASED COSTS; SPECIAL PROVISIONS FOR LIBOR LOANS.

8.1 Increased Costs. (a) If, after the date hereof, the adoption of, or any change in, any applicable law, rule or regulation, or any change in the interpretation or administration of any applicable law, rule or regulation by any governmental authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any Lender with any request or directive (whether or not having the force of law) of any such authority, central bank or comparable agency: (i) shall impose, modify or deem applicable any reserve (including any reserve imposed by the FRB, but excluding any reserve included in the determination of the LIBOR Rate pursuant to Section 4), special deposit or similar requirement against assets of, deposits with or for the account of, or credit extended by any Lender; or (ii) shall impose on any Lender any other condition affecting its LIBOR Loans, its Note or its obligation to make LIBOR Loans; and the result of anything described in clauses (i) and (ii) above is to increase the cost to (or to impose a cost on) such Lender (or any LIBOR Office of such Lender) of making or maintaining any LIBOR Loan, or to reduce the amount of any sum received or receivable by such Lender (or its LIBOR Office) under this Agreement or under its Note with respect thereto, then upon demand by such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to the Administrative Agent), the Company shall pay directly to such Lender such additional amount as will compensate such Lender for such increased cost or such reduction, so long as such amounts have accrued on or after the day which is 180 days prior to the date on which such Lender first made demand therefor.

(b) If any Lender shall reasonably determine that any change in, or the adoption or phase-in of, any applicable law, rule or regulation regarding capital adequacy, or any change in the interpretation or administration thereof by any governmental authority, central bank or comparable agency charged with the interpretation or administration thereof, or the compliance by any Lender or any Person controlling such Lender with any request or directive regarding capital adequacy (whether or not having the force of law) of any such authority, central bank or comparable agency, has or would have the effect of reducing the rate of return on such Lender’s or such controlling Person’s capital as a consequence of such Lender’s obligations hereunder to a level below that which such Lender or such controlling Person could have achieved but for such change, adoption, phase-in or compliance (taking into consideration such Lender’s or such

controlling Person’s policies with respect to capital adequacy) by an amount deemed by such Lender or such controlling Person to be material, then from time to time, upon demand by such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to the Administrative Agent), the Company shall pay to such Lender such additional amount as will compensate such Lender or such controlling Person for such reduction so long as such amounts have accrued on or after the day which is 180 days prior to the date on which such Lender first made demand therefor.

8.2 Basis for Determining Interest Rate Inadequate or Unfair. If

(a) the Administrative Agent, upon exercise of the Administrative Agent’s right to establish the LIBOR Rates as provided in this Agreement, reasonably determines (which determination shall be binding and conclusive on the Company) that by reason of circumstances affecting the interbank LIBOR market adequate and reasonable means do not exist for ascertaining the applicable LIBOR Rate; or

(b) the Required Lenders advise the Administrative Agent that the LIBOR Rate as determined by the Administrative Agent will not adequately and fairly reflect the cost to such Lenders of maintaining or funding LIBOR Loans for such Interest Period (taking into account any amount to which such Lenders may be entitled under Section 8.1) or that the making or funding of LIBOR Loans has become impracticable as a result of an event occurring after the date of this Agreement which in the opinion of such Lenders materially affects such Loans;

then the Administrative Agent shall promptly notify the other parties thereof and, so long as such circumstances shall continue, (i) no Lender shall be under any obligation to make or convert any Base Rate Loans into LIBOR Loans and (ii) on the last day of the current Interest Period for each LIBOR Loan, such Loan shall, unless then repaid in full, automatically convert to a Base Rate Loan.

8.3 Changes in Law Rendering LIBOR Loans Unlawful. If any change in, or the adoption of any new, law or regulation, or any change in the interpretation of any applicable law or regulation by any governmental or other regulatory body charged with the administration thereof, should make it (or in the good faith judgment of any Lender cause a substantial question as to whether it is) unlawful for any Lender to make, maintain or fund LIBOR Loans, then such Lender shall promptly notify each of the other parties hereto and, so long as such circumstances shall continue, (a) such Lender shall have no obligation to make or convert any Base Rate Loan into a LIBOR Loan (but shall make Base Rate Loans concurrently with the making of or conversion of Base Rate Loans into LIBOR Loans by the Lenders which are not so affected, in each case in an amount equal to the amount of LIBOR Loans which would be made or converted into by such Lender at such time in the absence of such circumstances) and (b) on the last day of the current Interest Period for each LIBOR Loan of such Lender (or, in any event, on such earlier date as may be required by the relevant law, regulation or interpretation), such LIBOR Loan shall, unless then repaid in full, automatically convert to a Base Rate Loan. Each Base Rate Loan made by a Lender which, but for the circumstances described in the foregoing sentence, would be a LIBOR Loan (an “Affected Loan”) shall remain outstanding for the period corresponding to the Group of LIBOR Loans of which such Affected Loan would be a part absent such circumstances.

8.4 Funding Losses. The Company hereby agrees that upon demand by any Lender (which demand shall be accompanied by a statement setting forth the basis for the amount being claimed, a copy of which shall be furnished to the Administrative Agent), the Company will indemnify such Lender against any net loss or expense which such Lender may sustain or incur (including any net loss or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund or maintain any LIBOR Loan), as reasonably determined by such Lender, as a result of (a) any payment, prepayment or conversion of any LIBOR Loan of such Lender on a date other than the last day of an Interest Period for such Loan (including any conversion pursuant to Section 8.3) or (b) any failure of the Company to borrow, convert or continue any Loan on a date specified therefor in a notice of borrowing, conversion or continuation pursuant to this Agreement. For this purpose, all notices to the Administrative Agent pursuant to this Agreement shall be deemed to be irrevocable.

8.5 Right of Lenders to Fund through Other Offices. Each Lender may, if it so elects, fulfill its commitment as to any LIBOR Loan by causing a foreign branch or Affiliate of such Lender to make such Loan; provided that in such event for the purposes of this Agreement such Loan shall be deemed to have been made by such Lender and the obligation of the Company to repay such Loan shall nevertheless be to such Lender and shall be deemed held by it, to the extent of such Loan, for the account of such branch or Affiliate.

8.6 Discretion of Lenders as to Manner of Funding. Notwithstanding any provision of this Agreement to the contrary, each Lender shall be entitled to fund and maintain its funding of all or any part of its Loans in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder shall be made as if such Lender had actually funded and maintained each LIBOR Loan during each Interest Period for such Loan through the purchase of deposits having a maturity corresponding to such Interest Period and bearing an interest rate equal to the LIBOR Rate for such Interest Period.

8.7 Mitigation of Circumstances; Replacement of Lenders. (a) Each Lender shall promptly notify the Company and the Administrative Agent of any event of which it has knowledge which will result in, and will use reasonable commercial efforts available to it (and not, in such Lender’s sole judgment, otherwise disadvantageous to such Lender) to mitigate or avoid, (i) any obligation by the Company to pay any amount pursuant to Section 7.6 or 8.1 or (ii) the occurrence of any circumstances described in Section 8.2 or 8.3 (and, if any Lender has given notice of any such event described in clause (i) or (ii) above and thereafter such event ceases to exist, such Lender shall promptly so notify the Company and the Administrative Agent). Without limiting the foregoing, each Lender will designate a different funding office if such designation will avoid (or reduce the cost to the Company of) any event described in clause (i) or (ii) above and such designation will not, in such Lender’s sole judgment, be otherwise disadvantageous to such Lender.

(b) If the Company becomes obligated to pay additional amounts to any Lender pursuant to Section 7.6 or 8.1, or any Lender gives notice of the occurrence of any circumstances described in Section 8.2 or 8.3 or is a Defaulting Lender, the Company may

designate another lender which is acceptable to the Administrative Agent in its reasonable discretion (such other bank being called a “Replacement Lender”) to purchase the Loans of such Lender and such Lender’s rights hereunder, without recourse to or warranty by, or expense to, such Lender, for a purchase price equal to the outstanding principal amount of the Loans payable to such Lender plus any accrued but unpaid interest on such Loans and all accrued but unpaid fees owed to such Lender and any other amounts payable to such Lender under this Agreement, and to assume all the obligations of such Lender hereunder, and, upon such purchase and assumption (pursuant to an Assignment Agreement), such Lender shall no longer be a party hereto or have any rights hereunder (other than rights with respect to indemnities and similar rights applicable to such Lender prior to the date of such purchase and assumption) and shall be relieved from all obligations to the Company hereunder, and the Replacement Lender shall succeed to the rights and obligations of such Lender hereunder.

8.8 Conclusiveness of Statements; Survival of Provisions. Determinations and statements of any Lender pursuant to Section 8.1, 8.2, 8.3 or 8.4 shall be conclusive absent demonstrable error. Lenders may use reasonable averaging and attribution methods in determining compensation under Sections 8.1 and 8.4, and the provisions of such Sections shall survive repayment of the Obligations, cancellation of any Notes and termination of this Agreement.

SECTION 9 REPRESENTATIONS AND WARRANTIES.

To induce the Administrative Agent and the Lenders to enter into this Agreement and to induce the Lenders to make Loans hereunder, the Company represents and warrants to the Administrative Agent and the Lenders that:

9.1 Organization. Each Loan Party is validly existing and in good standing under the laws of its jurisdiction of organization; and each Loan Party is duly qualified to do business in each jurisdiction where, because of the nature of its activities or properties, such qualification is required, except for such jurisdictions where the failure to so qualify would not have a Material Adverse Effect.

9.2 Authorization; No Conflict. The Company and each Guarantor is duly authorized to execute and deliver each Loan Document to which it is a party, the Company is duly authorized to borrow monies hereunder and the Company and each Guarantor is duly authorized to perform its Obligations under each Loan Document to which it is a party. The execution, delivery and performance by the Company and each Guarantor of each Loan Document to which it is a party, and the borrowings by the Company hereunder, do not and will not (a) require any consent or approval of any governmental agency or authority (other than any consent or approval which has been obtained and is in full force and effect), (b) conflict with (i) any provision of law, (ii) the charter, by-laws or other organizational documents of the Company or any Guarantor or (iii) any agreement, indenture, instrument or other document, or any judgment, order or decree, which is binding upon the Company or any Guarantor or any of their respective properties or (c) require, or result in, the creation or imposition of any Lien on any asset of any Loan Party.

9.3 Validity and Binding Nature. Each of this Agreement and each other Loan Document to which any Loan Party is a party is the legal, valid and binding obligation of such

Person, enforceable against such Person in accordance with its terms, subject to bankruptcy, insolvency and similar laws affecting the enforceability of creditors’ rights generally and to general principles of equity.

9.4 [Intentionally Omitted]

9.5 [Intentionally Omitted]

9.6 Litigation and Contingent Liabilities. No litigation (including derivative actions), arbitration proceeding or governmental investigation or proceeding is pending or, to the Company’s knowledge, threatened against any Loan Party which might reasonably be expected to have a Material Adverse Effect, except (i) with respect to Accounting Issues (as defined in the Waiver and Omnibus Amendment Agreement)(whether such litigation, arbitration or investigation now exists or hereafter commences) and (ii) as set forth in Schedule 9.6. Other than any liability incident to such litigation or proceedings, no Loan Party has any material contingent liabilities not listed on Schedule 9.6 or permitted by Section 11.1.

9.7 Ownership of Properties; Liens. Each Loan Party owns good and, in the case of real property, marketable title to all of its properties and assets, real and personal, tangible and intangible, of any nature whatsoever (including patents, trademarks, trade names, service marks and copyrights), free and clear of all Liens, charges and claims (including infringement claims with respect to patents, trademarks, service marks, copyrights and the like) except as permitted by Section 11.2.

9.8 Equity Ownership; Subsidiaries. All issued and outstanding Capital Securities of each Loan Party are duly authorized and validly issued, fully paid, non-assessable, and free and clear of all Liens other than any Lien, if any, in favor of the Administrative Agent, and such securities were issued in compliance with all applicable state and federal laws concerning the issuance of securities. Schedule 9.8 sets forth the authorized Capital Securities of each Loan Party as of the Closing Date. All of the issued and outstanding Capital Securities of the Company are owned as set forth on Schedule 9.8 as of the Closing Date, and all of the issued and outstanding Capital Securities of each Wholly-Owned Subsidiary is, directly or indirectly, owned by the Company. As of the Closing Date, except as set forth on Schedule 9.8, there are no pre-emptive or other outstanding rights, options, warrants, conversion rights or other similar agreements or understandings for the purchase or acquisition of any Capital Securities of any Loan Party.

9.9 Pension Plans. (a) The Unfunded Liability of all Pension Plans does not in the aggregate exceed twenty percent of the Total Plan Liability for all such Pension Plans. Each Pension Plan complies in all material respects with all applicable requirements of law and regulations. No contribution failure under Section 412 of the Code, Section 302 of ERISA or the terms of any Pension Plan has occurred with respect to any Pension Plan, sufficient to give rise to a Lien under Section 302(f) of ERISA, or otherwise to have a Material Adverse Effect. There are no pending or, to the knowledge of Company, threatened, claims, actions, investigations or lawsuits against any Pension Plan, any fiduciary of any Pension Plan, or Company or other any member of the Controlled Group with respect to a Pension Plan or a Multiemployer Pension Plan which could reasonably be expected to have a Material Adverse Effect. Neither the Company

nor any other member of the Controlled Group has engaged in any prohibited transaction (as defined in Section 4975 of the Code or Section 406 of ERISA) in connection with any Pension Plan or Multiemployer Pension Plan which would subject that Person to any material liability. Within the past five years, neither the Company nor any other member of the Controlled Group has engaged in a transaction which resulted in a Pension Plan with an Unfunded Liability being transferred out of the Controlled Group, which could reasonably be expected to have a Material Adverse Effect. No Termination Event has occurred or is reasonably expected to occur with respect to any Pension Plan, which could reasonably be expected to have a Material Adverse Effect.

(b) All contributions (if any) have been made to any Multiemployer Pension Plan that are required to be made by the Company or any other member of the Controlled Group under the terms of the plan or of any collective bargaining agreement or by applicable law; neither the Company nor any other member of the Controlled Group has withdrawn or partially withdrawn from any Multiemployer Pension Plan, incurred any withdrawal liability with respect to any such plan or received notice of any claim or demand for withdrawal liability or partial withdrawal liability from any such plan, and no condition has occurred which, if continued, could result in a withdrawal or partial withdrawal from any such plan; and neither the Company nor any other member of the Controlled Group has received any notice that any Multiemployer Pension Plan is in reorganization, that increased contributions may be required to avoid a reduction in plan benefits or the imposition of any excise tax, that any such plan is or has been funded at a rate less than that required under Section 412 of the Code, that any such plan is or may be terminated, or that any such plan is or may become insolvent.

9.10 Investment Company Act. No Loan Party is an “investment company” or a company “controlled” by an “investment company” or a “subsidiary” of an “investment company,” within the meaning of the Investment Company Act of 1940.

9.11 Public Utility Holding Company Act. No Loan Party is a “holding company”, or a “subsidiary company” of a “holding company,” or an “affiliate” of a “holding company” or of a “subsidiary company” of a “holding company,” within the meaning of the Public Utility Holding Company Act of 2005.

9.12 Regulation U. The Company is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying Margin Stock.

9.13 Taxes; Tax Shelter Registration.

(a) Each Loan Party has timely filed all tax returns and reports required by law to have been filed by it and has paid all taxes and governmental charges due and payable with respect to such return, except any such taxes or charges which are being diligently contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP shall have been set aside on its books. The Loan Parties have made adequate reserves on their books and records in accordance with GAAP for all taxes that have accrued but which are not yet due and payable. No Loan Party has participated in any transaction that relates to a year of the taxpayer (which is still open under the applicable statute of limitations) which is a “reportable transaction” within the meaning of Treasury Regulation Section 1.6011-4(b)(2) (irrespective of the date when the transaction was entered into).

(b) No Loan Party intends to treat any of the transactions contemplated by any Loan Document as being a “reportable transaction” within the meaning of Treasury Regulation Section 1.6011-4.

9.14 [Intentionally Omitted]

9.15 Environmental Matters. The on-going operations of each Loan Party comply in all respects with all Environmental Laws, except such non-compliance which could not (if enforced in accordance with applicable law) reasonably be expected to result, either individually or in the aggregate, in a Material Adverse Effect. Each Loan Party has obtained, and maintained in good standing, all licenses, permits, authorizations, registrations and other approvals required under any Environmental Law and required for their respective ordinary course operations, and for their reasonably anticipated future operations, and each Loan Party is in compliance with all terms and conditions thereof, except where the failure to do so could not reasonably be expected to result in material liability to any Loan Party and could not reasonably be expected to result, either individually or in the aggregate, in a Material Adverse Effect. No Loan Party or any of its properties or operations is subject to, or reasonably anticipates the issuance of, any written order from or agreement with any federal, state or local governmental authority, nor subject to any judicial or docketed administrative or other proceeding, respecting any Environmental Law, Environmental Claim or Hazardous Substance. There are no Hazardous Substances or other conditions or circumstances existing with respect to any property, arising from operations prior to the Closing Date, or relating to any waste disposal, of any Loan Party that would reasonably be expected to result, either individually or in the aggregate, in a Material Adverse Effect. No Loan Party has any underground storage tanks that are not properly registered or permitted under applicable Environmental Laws or that at any time have released, leaked, disposed of or otherwise discharged Hazardous Substances.

9.16 Insurance. Set forth on Schedule 9.16 is a complete and accurate summary of the property and casualty insurance program of the Loan Parties as of the Closing Date (including the names of all insurers, policy numbers, expiration dates, amounts and types of coverage, annual premiums, exclusions, deductibles, self-insured retention, and a description in reasonable detail of any self-insurance program, retrospective rating plan, fronting arrangement or other risk assumption arrangement involving any Loan Party). Each Loan Party and its properties are insured with financially sound and reputable insurance companies which are not Affiliates of the Loan Parties, in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where such Loan Parties operate.

9.17 Real Property. Set forth on Schedule 9.17 is a complete and accurate list, as of the Closing Date, of the address of all real property owned or leased by any Loan Party, together with, in the case of leased property, the name and mailing address of the lessor of such property.

9.18 Information. Subject to the waivers set forth in the Waiver and Omnibus Amendment Agreement, all information heretofore or contemporaneously herewith furnished in

writing by any Loan Party to the Administrative Agent or any Lender for purposes of or in connection with this Agreement and the transactions contemplated hereby is, and all written information hereafter furnished by or on behalf of any Loan Party to the Administrative Agent or any Lender pursuant hereto or in connection herewith will be, true and accurate in every material respect on the date as of which such information is dated or certified, and none of such information is or will be incomplete by omitting to state any material fact necessary to make such information not misleading in light of the circumstances under which made (it being recognized by the Administrative Agent and the Lenders that any projections and forecasts provided by the Company are based on good faith estimates and assumptions believed by the Company to be reasonable as of the date of the applicable projections or assumptions and that actual results during the period or periods covered by any such projections and forecasts may differ from projected or forecasted results).

9.19 Intellectual Property. Each Loan Party owns and possesses or has a license or other right to use all patents, patent rights, trademarks, trademark rights, trade names, trade name rights, service marks, service mark rights and copyrights as are necessary for the conduct of the businesses of the Loan Parties, without any infringement upon rights of others which could reasonably be expected to have a Material Adverse Effect.

9.20 Burdensome Obligations. No Loan Party is a party to any agreement or contract or subject to any restriction contained in its organizational documents which could reasonably be expected to have a Material Adverse Effect.

9.21 Labor Matters. Except as set forth on Schedule 9.21, no Loan Party is subject to any labor or collective bargaining agreement. There are no existing or threatened strikes, lockouts or other labor disputes involving any Loan Party that singly or in the aggregate could reasonably be expected to have a Material Adverse Effect. Hours worked by and payment made to employees of the Loan Parties are not in violation of the Fair Labor Standards Act or any other applicable law, rule or regulation dealing with such matters.

9.22 No Default. Except for the Specified Defaults, no Event of Default or Unmatured Event of Default exists or would result from the incurrence by any Loan Party of any Debt hereunder or under any other Loan Document.

9.23 Related Agreements, etc. (a) The Company has heretofore furnished the Administrative Agent a true and correct copy of the Related Agreements and the Existing Bank Credit Agreement.

(b) Each Loan Party and, to the Company’s knowledge, each other party to the Related Agreements, has duly taken all necessary corporate, partnership or other organizational action to authorize the execution, delivery and performance of the Related Agreements and the consummation of transactions contemplated thereby.

(c) The Related Transactions will comply with all applicable legal requirements, and all necessary governmental, regulatory, creditor, shareholder, partner and other material consents, approvals and exemptions required to be obtained by the Loan Parties and, to the Company’s knowledge, each other party to the Related Agreements in connection with the Related Transactions will be, prior to consummation of the Related Transactions, duly obtained and will be in full force and effect.

(d) The execution and delivery of the Related Agreements did not, and the consummation of the Related Transactions will not, violate any statute or regulation of the United States (including any securities law) or of any state or other applicable jurisdiction, or any order, judgment or decree of any court or governmental body binding on any Loan Party or, to the Company’s knowledge, any other party to the Related Agreements, or result in a breach of, or constitute a default under, any material agreement, indenture, instrument or other document, or any judgment, order or decree, to which any Loan Party is a party or by which any Loan Party is bound or, to the Company’s knowledge, to which any other party to the Related Agreements is a party or by which any such party is bound.

(e) No statement or representation made in the Related Agreements by any Loan Party or, to the Company’s knowledge, any other Person, contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary in order to make the statements made therein, in light of the circumstances under which they are made, not misleading.

(f) The incurrence of the Obligations is in full compliance with the Senior Note Documents and the Existing Bank Credit Agreement. Except for the Specified Defaults, there is no event of default or event or condition which could become an event of default with notice or lapse of time or both, under any Senior Note Document and the Existing Bank Credit Agreement. The Company has issued the 2005 Notes and received gross proceeds in the amount of $175,000,000 from such issuance. The Company has amended the 2002 Note Agreement under the First Amendment to Note Purchase Agreement dated January 31, 2005 and the Omnibus Waiver and Amendment Agreement and delivered to the Administrative Agent on or prior to the Closing Date. The Company has amended the Existing Bank Credit Agreement under the Omnibus Amendment and Waiver Agreement and delivered to the Administrative Agent on or prior to the Closing Date. All Senior Note Documents and the Existing Bank Credit Agreement are in full force and effect.

SECTION 10 AFFIRMATIVE COVENANTS.

Until the expiration or termination of the Commitments and thereafter until all Obligations hereunder and under the other Loan Documents are paid in full, the Company agrees that, unless at any time the Required Lenders shall otherwise expressly consent in writing, it will:

10.1 Reports, Certificates and Other Information. Subject to the Waiver and Omnibus Amendment Agreement, furnish to the Administrative Agent and each Lender:

10.1.1 Annual Report Promptly when available and in any event within 90 days (or such earlier date as the Company may be required to file its applicable annual report on Form 10-K by the rules and regulations of the SEC) after the close of each Fiscal Year: (a) a copy of the annual audit report of the Company and its Subsidiaries for such Fiscal Year, including therein consolidated balance sheets and statements of earnings and cash flows of the Company and its Subsidiaries as at the end of such Fiscal Year, certified without adverse reference to going

concern value and without qualification by independent auditors of recognized standing selected by the Company and reasonably acceptable to the Administrative Agent, together with (i) a written statement from such accountants to the effect that in making the examination necessary for the signing of such annual audit report by such accountants, nothing came to their attention that caused them to believe that the Company was not in compliance with any provision of Section 11.1, 11.3, 11.4 or 11.14 of this Agreement insofar as such provision relates to accounting matters or, if something has come to their attention that caused them to believe that the Company was not in compliance with any such provision, describing such non-compliance in reasonable detail and (ii) a comparison with the budget for such Fiscal Year and a comparison with the previous Fiscal Year; and (b) a consolidating balance sheet of the Company and its Subsidiaries as of the end of such Fiscal Year and consolidating statement of earnings and cash flows for the Company and its Subsidiaries for such Fiscal Year, certified by a Senior Officer of the Company.

10.1.2 Interim Reports. Promptly when available and in any event within 45 days (or such earlier date as the Company may be required to file its applicable quarterly report on Form 10-Q by the rules and regulations of the SEC) after the end of each Fiscal Quarter (except the last Fiscal Quarter of each Fiscal Year), consolidated and consolidating balance sheets of the Company and its Subsidiaries as of the end of such Fiscal Quarter, together with consolidated and consolidating statements of earnings and cash flows for such Fiscal Quarter and for the period beginning with the first day of such Fiscal Year and ending on the last day of such Fiscal Quarter, together with a comparison with the corresponding period of the previous Fiscal Year and a comparison with the budget for such period of the current Fiscal Year, certified by a Senior Officer of the Company.

10.1.3 Compliance Certificates. Contemporaneously with the furnishing of a copy of each annual audit report pursuant to Section 10.1.1 and each set of quarterly statements pursuant to Section 10.1.2, a duly completed compliance certificate in the form of Exhibit B, with appropriate insertions, dated the date of such annual report or such quarterly statements and signed by a Senior Officer of the Company, containing (i) a computation of each of the financial ratios and restrictions set forth in Section 11.14 and to the effect that such officer has not become aware of any Event of Default or Unmatured Event of Default that has occurred and is continuing or, if there is any such event, describing it and the steps, if any, being taken to cure it and (ii) a written statement of the Company’s management setting forth a discussion of the Company’s financial condition, changes in financial condition and results of operations.

10.1.4 Reports to the SEC and to Shareholders. Promptly upon the filing or sending thereof, give notice to the Lenders of all regular, periodic or special reports of any Loan Party filed with the SEC; copies of all registration statements of any Loan Party filed with the SEC (other than on Form S-8); and copies of all proxy statements or other communications made to security holders generally.

10.1.5 Notice of Default, Litigation and ERISA Matters. Promptly upon becoming aware of any of the following, written notice describing the same and the steps being taken by the Company or the Subsidiary affected thereby with respect thereto:

(a) the occurrence of an Event of Default or an Unmatured Event of Default;

(b) any litigation, arbitration or governmental investigation or proceeding not previously disclosed by the Company to the Lenders which has been instituted or, to the knowledge of the Company, is threatened against any Loan Party or to which any of the properties of any thereof is subject which might reasonably be expected to have a Material Adverse Effect;

(c) the institution of any steps by any member of the Controlled Group or any other Person to terminate any Pension Plan, or the failure of any member of the Controlled Group to make a required contribution to any Pension Plan (if such failure is sufficient to give rise to a Lien under Section 302(f) of ERISA) or to any Multiemployer Pension Plan, or the taking of any action with respect to a Pension Plan which could result in the requirement that the Company furnish a bond or other security to the PBGC or such Pension Plan, or the occurrence of any event with respect to any Pension Plan or Multiemployer Pension Plan which could result in the incurrence by any member of the Controlled Group of any material liability, fine or penalty (including any claim or demand for withdrawal liability or partial withdrawal from any Multiemployer Pension Plan), or any material increase in the contingent liability of the Company with respect to any post-retirement welfare benefit plan or other employee benefit plan of the Company or another member of the Controlled Group, or any notice that any Multiemployer Pension Plan is in reorganization, that increased contributions may be required to avoid a reduction in plan benefits or the imposition of an excise tax, that any such plan is or has been funded at a rate less than that required under Section 412 of the Code, that any such plan is or may be terminated, or that any such plan is or may become insolvent;

(d) any cancellation or material change in any insurance maintained by any Loan Party; or

(e) any other event (including (i) any violation of any Environmental Law or the assertion of any Environmental Claim or (ii) the enactment or effectiveness of any law, rule or regulation) which might reasonably be expected to have a Material Adverse Effect.

10.1.6 Management Reports. Promptly upon the request of the Administrative Agent, copies of all detailed financial and management reports submitted to the Company by independent auditors in connection with each annual or interim audit made by such auditors of the books of the Company.

10.1.7 Projections. As soon as practicable, and in any event not later than 30 days prior to the commencement of each Fiscal Year, financial projections for the Company and its Subsidiaries for such Fiscal Year (including quarterly operating and cash flow budgets) prepared in a manner consistent with the projections delivered by the Company to the Lenders prior to the Closing Date or otherwise in a manner reasonably satisfactory to the Administrative Agent, accompanied by a certificate of a Senior Officer of the Company on behalf of the Company to the effect that (a) such projections were prepared by the Company in good faith, (b) the Company has a reasonable basis for the assumptions contained in such projections and (c) such projections have been prepared in accordance with such assumptions.

10.1.8 Debt Notices. Promptly following receipt, copies of any notices (including notices of default or acceleration) received from any holder or trustee of, under or with respect to any Senior Note Document or otherwise in connection with the Related Transactions.

10.1.9 Other Information. Promptly from time to time, such other information concerning the Loan Parties as any Lender or the Administrative Agent may reasonably request.

10.2 Books, Records and Inspections. Keep, and cause each other Loan Party to keep, its books and records in accordance with sound business practices sufficient to allow the preparation of financial statements in accordance with GAAP; permit, and cause each other Loan Party to permit, any Lender or the Administrative Agent or any representative thereof to inspect the properties and operations of the Loan Parties; and permit, and cause each other Loan Party to permit, at any reasonable time and with reasonable notice (or at any time without notice if an Event of Default exists), any Lender or the Administrative Agent or any representative thereof to visit any or all of its offices, to discuss its financial matters with its officers and its independent auditors (and the Company hereby authorizes such independent auditors to discuss such financial matters with any Lender or the Administrative Agent or any representative thereof), and to examine (and, at the expense of the Loan Parties, photocopy extracts from) any of its books or other records; and permit, and cause each other Loan Party to permit, the Administrative Agent and its representatives to inspect the inventory and other tangible assets of the Loan Parties, to perform appraisals of the equipment of the Loan Parties, and to inspect, audit, check and make copies of and extracts from the books, records, computer data, computer programs, journals, orders, receipts, correspondence and other data. All such inspections or audits by the Administrative Agent shall be at the Company’s expense, provided that so long as no Event of Default or Unmatured Event of Default exists, the Company shall not be required to reimburse the Administrative Agent for inspections or audits more frequently than once each Fiscal Year. The Company shall send a written notification to its auditors informing them at each time the Company engages any auditors that it is the primary intent of the Company for the auditors’ accounting services to benefit or influence the Lenders and the Administrative Agent and shall take such other actions as may be requested by the Administrative Agent to permit the Administrative Agent and the Lenders to rely on Company’s annual audit.

10.3 Maintenance of Property; Insurance. (a) Keep, and cause each other Loan Party to keep, all property useful and necessary in the business of the Loan Parties in good working order and condition, ordinary wear and tear excepted.

(b) Maintain, and cause each other Loan Party to maintain, with responsible insurance companies, such insurance coverage as may be required by any law or governmental regulation or court decree or order applicable to it and such other insurance, to such extent and against such hazards and liabilities, as is customarily maintained by companies similarly situated, but which shall insure against all risks and liabilities of the type identified on Schedule 9.16 and shall have insured amounts no less than, and deductibles no higher than, those set forth on such schedule; and, upon request of the Administrative Agent or any Lender, furnish to the Administrative Agent or such Lender a certificate setting forth in reasonable detail the nature and extent of all insurance maintained by the Loan Parties. The Company shall cause each issuer of an insurance policy to provide the Administrative Agent with an endorsement (i) showing the Collateral Agent as loss payee with respect to each policy of property or casualty

insurance and naming the Collateral Agent and each Lender as an additional insured with respect to each policy of liability insurance, (ii) providing that 30 days’ notice will be given to the Collateral Agent prior to any cancellation of, material reduction or change in coverage provided by or other material modification to such policy and (iii) reasonably acceptable in all other respects to the Administrative Agent. The insurance requirements of the Collateral Documents supplement and are in addition to the requirements of this Section 10.3(b). Notwithstanding anything to the contrary, the Loan Parties shall comply with the insurance requirements in the Collateral Documents and instead of the Administrative Agent, the Collateral Agent shall be named as loss payee and additional insured in accordance with the requirements of the Collateral Agreement.

10.4 Compliance with Laws; Payment of Taxes and Liabilities. Subject to the specific waivers set forth in the Waiver and Omnibus Amendment Agreement, (a) comply, and cause each other Loan Party to comply, in all material respects with all applicable laws, rules, regulations, decrees, orders, judgments, licenses and permits, except where failure to comply could not reasonably be expected to have a Material Adverse Effect; (b) without limiting clause (a) above, ensure, and cause each other Loan Party to ensure, that no Person who owns a controlling interest in or otherwise controls a Loan Party is or shall be (i) listed on the Specially Designated Nationals and Blocked Person List maintained by the Office of Foreign Assets Control (“OFAC”), Department of the Treasury, and/or any other similar lists maintained by OFAC pursuant to any authorizing statute, Executive Order or regulation or (ii) a person designated under Section 1(b), (c) or (d) of Executive Order No. 13224 (September 23, 2001), any related enabling legislation or any other similar Executive Orders, (c) without limiting clause (a) above, comply, and cause each other Loan Party to comply, with all applicable Bank Secrecy Act and anti-money laundering laws and regulations and (d) pay, and cause each other Loan Party to pay, prior to delinquency, all taxes and other governmental charges against it or any collateral, as well as claims of any kind which, if unpaid, could become a Lien on any of its property; provided that the foregoing shall not require any Loan Party to pay any such tax or charge so long as it shall contest the validity thereof in good faith by appropriate proceedings and shall set aside on its books adequate reserves with respect thereto in accordance with GAAP and, in the case of a claim which could become a Lien on any collateral, such contest proceedings shall stay the foreclosure of such Lien or the sale of any portion of the collateral to satisfy such claim.

10.5 Maintenance of Existence, etc. Maintain and preserve, and (subject to Section 11.5) cause each other Loan Party to maintain and preserve, (a) its existence and good standing in the jurisdiction of its organization and (b) its qualification to do business and good standing in each jurisdiction where the nature of its business makes such qualification necessary (other than such jurisdictions in which the failure to be qualified or in good standing could not reasonably be expected to have a Material Adverse Effect).

10.6 Use of Proceeds. Use the proceeds of the Loans and all Superpriority Loan Advances solely for working capital purposes, for Acquisitions permitted by Section 11.5, for Capital Expenditures and for other general business purposes; and not use or permit any proceeds of any Loan to be used, either directly or indirectly, for the purpose, whether immediate, incidental or ultimate, of “purchasing or carrying” any Margin Stock.

10.7 Employee Benefit Plans.

(a) Maintain, and cause each other member of the Controlled Group to maintain, each Pension Plan in substantial compliance with all applicable requirements of law and regulations.

(b) Make, and cause each other member of the Controlled Group to make, on a timely basis, all required contributions to any Multiemployer Pension Plan.

(c) Not, and not permit any other member of the Controlled Group to (i) seek a waiver of the minimum funding standards of ERISA, (ii) terminate or withdraw from any Pension Plan or Multiemployer Pension Plan or (iii) take any other action with respect to any Pension Plan that would reasonably be expected to entitle the PBGC to terminate, impose liability in respect of, or cause a trustee to be appointed to administer, any Pension Plan, unless the actions or events described in clauses (i), (ii) and (iii) individually or in the aggregate would not have a Material Adverse Effect.

10.8 Environmental Matters. If any release or threatened release or other disposal of Hazardous Substances shall occur or shall have occurred on any real property or any other assets of any Loan Party, the Company shall, or shall cause the applicable Loan Party to, cause the prompt containment and removal of such Hazardous Substances and the remediation of such real property or other assets as necessary to comply with all Environmental Laws and to preserve the value of such real property or other assets. Without limiting the generality of the foregoing, the Company shall, and shall cause each other Loan Party to, comply with any federal or state judicial or administrative order requiring the performance at any real property of any Loan Party of activities in response to the release or threatened release of a Hazardous Substance. To the extent that the transportation of Hazardous Substances is permitted by this Agreement, the Company shall, and shall cause its Subsidiaries to, dispose of such Hazardous Substances, or of any other wastes, only at licensed disposal facilities operating in compliance with Environmental Laws.

10.9 Tax Shelter Registration. Notify the Administrative Agent of any action (or the intention to take an action) inconsistent with the representation in Section 9.13(b). If the Company so notifies the Administrative Agent, the Company acknowledges and agrees that the Administrative Agent and the Lenders may treat the transactions contemplated hereby (or any single transaction contemplated hereby) as part of a transaction that is subject to Treasury Regulation Section ###-###-####-1, and the Administrative Agent and such Lender, as applicable, may maintain the lists and other regulations required by such Treasury Regulation. To the extent the Administrative Agent or a Lender determines to maintain such list, each Loan Party shall cooperate with the Administrative Agent and Lenders in obtaining the information required under such Treasury Regulation. Within 10 days after notifying the Administrative Agent under this Section 10.9, the Company shall deliver to the Administrative Agent a duly completed copy of IRS Form 8886 or any successor form.

10.10 Further Assurances. Subject to the Waiver and Omnibus Amendment Agreement, take, such actions as are necessary, or as the Administrative Agent (or the Required Lenders acting through the Administrative Agent) may reasonably request from time to time, to ensure that the obligations of the Company hereunder and under the other Loan Documents are

guaranteed at all times by (a) all existing and future Persons that are required to or have a Contingent Liability with respect to any Debt under any Senior Note Document, and (b) Subsidiaries that, together with the Company, collectively own assets which account for 90% or more of the consolidated domestic assets of the Company and its Subsidiaries, generate revenues which account for 90% or more of the consolidated domestic revenues of the Company and its Subsidiaries for the most recently ended period of four consecutive Fiscal Quarters and generate net income which accounts for 90% or more of domestic consolidated net income for the most recently ended period of four consecutive Fiscal Quarters, including the delivery of officer’s certificates, opinions and related documents

10.11 Deposit Accounts. Unless the Administrative Agent otherwise consents in writing, in order to facilitate the Administrative Agent’s and the Lenders’ administration of the Loan Documents, maintain all of their principal deposit accounts with one or more Lenders or the Existing Bank Credit Agreement Lenders.

10.12 Additional Covenants. If at any time the Company or any other Loan Party shall enter into or be a party to any instrument or agreement with respect to any Debt which in the aggregate, together with any related Debt, exceeds $1,000,000, including all such instruments or agreements in existence as of the date hereof (other than the Obligations) and all such instruments or agreements entered into after the date hereof, relating to or amending any terms or conditions applicable to any of such Debt which includes financial covenants or the equivalent thereof not provided for in this Agreement or more favorable to the lender or lenders thereunder than those provided for in this Agreement, then the Company shall promptly so advise the Lenders. Thereupon, if the Required Creditor Group shall request, upon notice to the Company, the Company, the Lenders and the Administrative Agent shall enter into an amendment to this Agreement, any other Loan Document or an additional agreement (as the Required Lenders may request consistent with such request of the Required Creditor Group), providing for substantially the same financial covenants or the equivalent thereof, as those provided for in such instrument or agreement to the extent required and as may be selected by the Required Creditor Group. In addition to the foregoing, all covenants and defaults of the Senior Note Documents not provided for in this Agreement or more favorable to the holder or holders of the Senior Notes than those provided for in this Agreement, together with any related definitions, are hereby incorporated by reference into this Agreement to the same extent as if set forth fully herein, and no subsequent amendment, waiver, termination or modification thereof shall effect such covenants as incorporated herein.

SECTION 11 NEGATIVE COVENANTS

11.1 Debt. Not, and not permit any other Loan Party to, create, incur, assume or suffer to exist any Debt, except:

(a) Debt under the Loan Documents;

(b) Debt (i) outstanding on the date hereof and listed on Schedule 11.1 and (ii) under the Existing Bank Credit Agreement and, in each case, any refinancing, refundings, renewals or extensions thereof permitted under the Waiver and Omnibus Amendment Agreement; provided that the amount of such Debt is not increased at the time of such refinancing, refunding, renewal or extension except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing and by an amount equal to any existing commitments unutilized thereunder;

(c) Guarantees of the Company or any Guarantor in respect of Debt otherwise permitted hereunder of the Company or any other Guarantor;

(d) Hedging Obligations incurred in favor of a Lender or an Affiliate thereof for bona fide hedging purposes and not for speculation;

(e) Debt in respect of Capital Leases and purchase money obligations for fixed or capital assets within the limitations set forth in Section 11.2(j); provided that (i) the aggregate amount of all such Debt at any one time outstanding shall not exceed $10,000,000 and (ii) at the time of incurrence of such Debt, no Event of Default or Unmatured Event of Default exists or would result therefrom;

(f) Debt under the Senior Notes;

(g) unsecured Debt;

(h) Debt secured by Liens permitted under Section 11.2(k);

(i) Debt arising in connection with the Sale-Leaseback Transaction; and

(j) other Debt of the Company and its Subsidiaries in an aggregate principal amount not to exceed $10,000,000 at any time outstanding.

11.2 Liens. Not, and not permit any other Loan Party to, create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, other than the following:

(a) Liens pursuant to any Loan Document;

(b) Liens existing on the date hereof and listed on Schedule 11.2 and any renewals or extensions thereof, provided that the property covered thereby is not increased and any renewal or extension of the obligations secured or benefited thereby is permitted by Section 11.1(b);

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

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

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

(f) deposits to secure the performance of bids, trade contracts and leases (other than Debt), statutory obligations, surety bonds (other than bonds related to judgments or litigation), performance bonds and other non-delinquent obligations of a like nature, in each case incurred in the ordinary course of business;

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

(h) Liens securing judgments for the payment of money not constituting an Event of Default under Section 13.1.8 or securing appeal or other surety bonds related to such judgments;

(i) Liens arising in connection with the Sale-Leaseback Transaction;

(j) Liens securing Debt permitted under Section 11.1(e); provided that (i) such Liens do not at any time encumber any property other than the property financed by such Debt and (ii) the Debt secured thereby does not exceed the cost or fair market value, whichever is lower, of the property being acquired on the date of acquisition;

(k) Liens securing Debt not exceeding $10,000,000 in the aggregate (i) in favor of sellers of stock or assets or (ii) existing on property at the time of the acquisition thereof by the Company or any Subsidiary and not created in contemplation of such acquisition (so long as the fair market value of the assets secured does not exceed 125% of the amount of such Debt), in each case incurred in connection with Acquisitions permitted under this Agreement; and

(l) other Liens securing obligations in an aggregate principal amount not exceeding $10,000,000 at any time outstanding.

11.3 Dispositions. Not, and not permit any other Loan Party to, make any Disposition or enter into any agreement to make any Disposition, except:

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

(b) Dispositions of inventory in the ordinary course of business;

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

(d) Dispositions of property by the Company to any Guarantor or by any Subsidiary to the Company or to a wholly-owned Subsidiary; provided that if the transferor of such property is a Guarantor, the transferee thereof must either be the Company or a Guarantor;

(e) Dispositions permitted by Section 11.5;

(f) non-exclusive licenses of intellectual property rights in the ordinary course of business and substantially consistent with past practice for terms not exceeding five years;

(g) the sale of assets pursuant to the Sale-Leaseback Transaction;

(h) sales or Dispositions of assets under the Receivables Sale Agreement, so long as the aggregate book value of assets subject to the terms of the Receivables Sale Agreement does not exceed (i) $90,000,000 at any time prior to the end of the 2005 Fiscal Year, (ii) $75,000,000 at any time from and including the end of the 2005 Fiscal Year to but excluding the end of the 2006 Fiscal Year, (iii) $60,000,000 at any time from and including the end of the 2006 Fiscal Year to but excluding the end of the 2007 Fiscal Year, (iv) $45,000,000 at any time from and including the end of the 2007 Fiscal Year to but excluding the end of the 2008 Fiscal Year, (v) $30,000,000 at any time from and including the end of the 2008 Fiscal Year to but excluding the end of the 2009 Fiscal Year, or (vi) $15,000,000 at any time thereafter; and

(i) Dispositions by the Company and its Subsidiaries not otherwise permitted under this Section 11.3; provided that (i) at the time of such Disposition, no Event of Default shall exist or would result from such Disposition and (ii) the aggregate book value of all property Disposed of in reliance on this clause (h) shall not exceed 10% of the consolidated assets of the Company and its Subsidiaries.

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

11.4 Restricted Payments. Not, and not permit any other Loan Party to, declare or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except that:

(a) each Subsidiary may make Restricted Payments to the Company and to wholly-owned Subsidiaries (and, in the case of a Restricted Payment by a non-Wholly-Owned Subsidiary, to the Company and any Subsidiary and to each other owner of Capital Securities of such Subsidiary on a pro rata basis based on their relative ownership interests);

(b) the Company and each Subsidiary may declare and make dividend payments or other distributions payable solely in the common stock or other common Capital Securities of such Person;

(c) the Company and each Subsidiary may purchase, redeem or otherwise acquire shares of its common stock or other common Capital Securities or warrants or options to acquire any such shares with the proceeds received from the substantially concurrent issue of new shares of its common stock or other common equity interests; and

(d) so long as no Event of Default or Unmatured Event of Default exists or would result therefrom on a pro forma basis, the Company and each Subsidiary may declare and make cash dividend payments or other distributions or purchase, redeem or otherwise acquire shares of its common stock or other common Capital Securities in an aggregate amount not to exceed the sum of (a) $40,000,000 and (b) 50% of the cumulative Consolidated Net Income since the end of the first full Fiscal Quarter ending after the Closing Date.

11.5 Fundamental Changes. Not, and not permit any other Loan Party to, merge, dissolve, liquidate, consolidate with or into another Person, or Dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, except that, so long as no Event of Default of Unmatured Event of Default exists or would result therefrom:

(a) any Subsidiary may merge with (a) the Company, provided that the Company shall be the continuing or surviving Person, or (b) any one or more other Subsidiaries, provided that when any Wholly-Owned Subsidiary is merging with another Subsidiary, the Wholly-Owned Subsidiary shall be the continuing or surviving Person;

(b) any Subsidiary may dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise) to the Company or to another Subsidiary or as otherwise permitted under Section 11.3; provided that if the transferor in such a transaction is a Wholly-Owned Subsidiary, then the transferee must either be the Company or a Wholly-Owned Subsidiary; and

(c) any Subsidiary may merge with any other Person in an Acquisition otherwise permitted under this Agreement, provided that the surviving Person is a Subsidiary.

11.6 Modification of Organizational Documents. Not permit the charter, by-laws or other organizational documents of any Loan Party to be amended or modified in any way which could reasonably be expected to materially adversely affect the interests of the Lenders.

11.7 Transactions with Affiliates. Not, and not permit any other Loan Party to, enter into, or cause, suffer or permit to exist any transaction, arrangement or contract with any of its other Affiliates (other than the Loan Parties) which is on terms which are less favorable than are obtainable from any Person which is not one of its Affiliates and excluding any employment agreements with any officers and directors of any Loan Party to the extent approved by the Board of Directors of such Loan Party.

11.8 Unconditional Purchase Obligations. Not, and not permit any other Loan Party to, enter into or be a party to any contract for the purchase of materials, supplies or other property or services if such contract requires that payment be made by it regardless of whether delivery is ever made of such materials, supplies or other property or services.

11.9 Inconsistent Agreements. Not, and not permit any other Loan Party to, enter into any agreement containing any provision which would (a) be violated or breached by any borrowing by the Company hereunder or by the performance by any Loan Party of any of its Obligations hereunder or under any other Loan Document, (b) prohibit any Loan Party from granting to the Administrative Agent and the Lenders, a Lien on any of its assets (other than the Senior Note Documents), (c) in any way restrict or limit the ability of the Company or any Loan

Party to amend, modify, supplement or otherwise alter the terms applicable to the Obligations or this Agreement, or (d) create or permit to exist or become effective any encumbrance or restriction on the ability of any Subsidiary to (i) pay dividends or make other distributions to the Company or any other Subsidiary, or pay any Debt owed to the Company or any other Subsidiary, (ii) make loans or advances to any Loan Party, (iii) guarantee any of the Obligations or (iv) transfer any of its assets or properties to any Loan Party, other than (A) customary restrictions and conditions contained in agreements relating to the sale of all or a substantial part of the assets of any Subsidiary pending such sale, provided that such restrictions and conditions apply only to the Subsidiary to be sold and such sale is permitted hereunder, (B) restrictions or conditions imposed by any agreement relating to purchase money Debt, Capital Leases and other secured Debt permitted by this Agreement if such restrictions or conditions apply only to the property or assets securing such Debt and (C) customary provisions in leases and other contracts restricting the assignment thereof.

11.10 Business Activities; Issuance of Equity. Not, and not permit any other Loan Party to, engage in any line of business other than the businesses engaged in on the date hereof and businesses reasonably related thereto. Not, and not permit any other Loan Party to, issue any Capital Securities other than (a) any issuance of shares of the Company’s common Capital Securities pursuant to any employee or director option program, benefit plan or compensation program or (b) any issuance by a Subsidiary to the Company or another Subsidiary in accordance with Section 11.4.

11.11 Investments. Not, and not permit any other Loan Parties to, make any Investments, except:

(a) Investments held by the Company or such Subsidiary in the form of cash equivalents;

(b) Investments existing on the date hereof and listed on Schedule 11.11;

(c) advances to officers, directors and employees of the Company and Subsidiaries in an aggregate amount not to exceed $4,000,000 at any time outstanding, for travel, entertainment, relocation and analogous ordinary business purposes;

(d) Investments of the Company or any Subsidiary in any Domestic Subsidiary or the Company;

(e) Investments of the Company in any Foreign Subsidiary or by any Foreign Subsidiary in the Company or in any Domestic Subsidiary so long as the aggregate amount of such Investments does not exceed $10,000,000 in the aggregate outstanding at any time (in addition to any amounts permitted under Sections 11.11(b) and (h)(xi));

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

(g) Guarantees permitted by Section 11.1;

(h) Investments made to consummate Acquisitions provided that each of the following conditions is satisfied:

(i) the business or division acquired are for use, or the Person acquired is engaged, in the businesses engaged in by the Loan Parties on the Closing Date or businesses reasonably related thereto;

(ii) immediately before and after giving effect to such Acquisition on a pro forma basis satisfactory to the Administrative Agent, no Event of Default or Unmatured Event of Default shall exist and the representations and warranties contained in the Loan Documents are true and correct in all material respects as if made on the date such Acquisition is consummated;

(iii) if the Company has not obtained a long-term issuer credit rating of BBB or better from S&P or a long-term issuer rating of Baa2 or better from Moody’s, the aggregate consideration to be paid by the Loan Parties (including without limitation any Debt assumed or issued in connection therewith or other consideration of any kind, the amount thereof to be calculated in accordance with GAAP) in connection with any Acquisition (or any series of related Acquisitions) shall be equal to or less than (x) $50,000,000 if the Leverage Ratio is equal to or greater than 2.0 to 1.0 after giving effect to such Acquisition on a pro forma basis satisfactory to the Administrative Agent, (y) $75,000,000 if the Leverage Ratio is less than 2.0 to 1.0 but equal to or greater than 1.0 to 1.0 after giving effect to such Acquisition on a pro forma basis satisfactory to the Administrative Agent, and (z) $100,000,000 if the Leverage Ratio is less than 1.0 to 1.0 after giving effect to such Acquisition on a pro forma basis satisfactory to the Administrative Agent;

(iv) immediately after giving effect to such Acquisition, the Company is in pro forma compliance (on a pro forma basis satisfactory to the Administrative Agent) with all the financial covenants set forth in Section 11.14;

(v) in the case of the Acquisition of any Person, the Board of Directors of such Person has approved such Acquisition;

(vi) reasonably prior to such Acquisition, the Administrative Agent shall have received copies of each material document, instrument and agreement to be executed in connection with such Acquisition together with all lien search reports and lien release letters and other documents as the Administrative Agent may require to evidence the termination of Liens on the assets or business to be acquired, and all of the foregoing shall be reasonably satisfactory to the Administrative Agent;

(vii) not less than five Business Days prior to such Acquisition, the Administrative Agent shall have received an acquisition summary with respect to the Person and/or business or division to be acquired, such summary to include a reasonable description thereof (including financial information) and operating results (including financial statements for the most recent twelve month period for which they are available and as otherwise available), the terms and conditions, including economic terms, of the

proposed Acquisition, and the Company’s calculation of pro forma Consolidated EBITDA relating thereto;

(viii) the Administrative Agent and Required Lenders shall be reasonably satisfied with the Company’s computation of pro forma Consolidated EBITDA;

(ix) opinions of counsel for the Loan Parties and (if delivered to the Loan Party) the selling party in favor of the Administrative Agent and the Lenders have been delivered;

(x) immediately before and after giving effect to such Acquisition, the Company is able to borrow at least $25,000,000 in Revolving Loans after giving effect to such Acquisition and all borrowings on the date of such Acquisition;

(xi) no more than $50,000,000 of the aggregate consideration paid by the Loan Parties (including without limitation any Debt assumed or issued in connection therewith or other consideration of any kind, the amount thereof to be calculated in accordance with GAAP) in connection with all Acquisitions after the closing date for the Capital Securities or assets of Persons that are not incorporated or organized under the laws of the United States of America, any State or other political subdivision thereof or the District of Columbia; and

(xii) the provisions of Section 10.10 have been satisfied.

(i) other Investments not exceeding $10,000,000 in the aggregate at any time outstanding.

11.12 Restriction of Amendments and Prepayments to Certain Debt. Not (a) make or agree to any amendment to or modification of, or waive any of its rights under, any of the terms of any Senior Note Document or, unless expressly permitted under the Waiver and Omnibus Amendment Agreement, the Existing Bank Credit Agreement which would (i) have the effect of (x) increasing the principal amount payable thereon or redemptions thereof, (y) providing for earlier payment in respect of principal or redemptions or otherwise, or (z) requiring collateral or additional guaranties to secure any of the obligations under any the Senior Note Document or (ii) otherwise adversely affect the interests of the Lenders in any material respect; (b) make or agree to any amendment to or modification of, or waive any of its rights under, any of the terms of the Receivable Sale Agreement which would adversely affect the interests of the Lenders in any material respect; provided that the foregoing shall not prohibit the Company from terminating the Receivable Sale Agreement or decreasing the amount of accounts receivable to be sold by the Company thereunder; or (c) make any optional payment, defeasance (whether a covenant defeasance, legal defeasance or other defeasance), prepayment or redemption of any Debt under any Senior Note Document or any Debt refinancing or replacing such Debt unless both before and after (on a pro forma basis satisfactory to the Administrative Agent) any such optional payment, defeasance (whether a covenant defeasance, legal defeasance or other defeasance), prepayment or redemption (i) the Leverage Ratio is less than 2.0 to 1.0, (ii) the representations and warranties of each Loan Party set forth in this Agreement and the other Loan Documents shall be true and correct in all respects with the same effect as if then made (except to the extent

stated to relate to a specific earlier date, in which case such representations and warranties shall be true and correct as of such earlier date); and (iii) no Event of Default or Unmatured Event of Default shall have then occurred and be continuing.

11.13 Fiscal Year. Not change its fiscal year or any fiscal quarter such that it does not comply with the definition of Fiscal Year or Fiscal Quarter, respectively.

11.14 Financial Covenants.

(a) Minimum Consolidated Net Worth. Not permit Consolidated Net Worth at any time to be less than the sum of (i) $220,000,000 and (ii) an amount equal to 50% of the Consolidated Net Income earned in each full Fiscal Quarter ending after the Closing Date (with no deduction for a net loss in any such Fiscal Quarter).

(b) Minimum Fixed Charge Coverage Ratio. Not permit the Fixed Charge Coverage Ratio as of the last day of any Computation Period to be less than 1.25 to 1.0.

(c) Maximum Leverage Ratio. Not permit the Leverage Ratio to be greater than (i) 3.25 to 1.0 as of the last day of any Computation Period ending on or before September 30, 2005 or (ii) 3.00 to 1.0 as of the last day of any Computation Period thereafter.

11.15 Cancellation of Debt. Not, and not permit any other Loan Party to, cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business, and except for the cancellation of debts or claims not to exceed $500,000 in any Fiscal Year

SECTION 12 EFFECTIVENESS; CONDITIONS OF LENDING, ETC.

Subject to the Omnibus Waiver and Amendment Agreement, the obligation of each Lender to make its Loans is subject to the following conditions precedent:

12.1 Initial Credit Extension. The obligation of the Lenders to make the initial Loans is, in addition to the conditions precedent specified in Section 12.2, subject to the conditions precedent that all of the following, each duly executed and dated the Closing Date (or such earlier date as shall be satisfactory to the Administrative Agent), in form and substance satisfactory to the Administrative Agent (and the date on which all such conditions precedent have been satisfied or waived in writing by the Administrative Agent is called the “Closing Date”):

12.1.1 Notes. A Note for each Lender.

12.1.2 Authorization Documents. For the Company and each Guarantor, such Person’s (a) charter (or similar formation document), certified by the appropriate governmental authority; (b) good standing certificates in its state of incorporation (or formation) and in each jurisdiction which the failure to be in good standing could reasonably be expected to have a Material Adverse Effect; (c) bylaws (or similar governing document); (d) resolutions of its board of directors (or similar governing body) approving and authorizing such Person’s execution, delivery and performance of the Loan Documents to which it is party and the transactions contemplated thereby; and (e) signature and incumbency certificates of its officers executing any

of the Loan Documents (it being understood that the Administrative Agent and each Lender may conclusively rely on each such certificate until formally advised by a like certificate of any changes therein), all certified by its secretary or an assistant secretary (or similar officer) as being in full force and effect without modification.

12.1.3 Consents, etc. Certified copies of all documents evidencing any necessary corporate or partnership action, consents and governmental approvals (if any) required for the execution, delivery and performance by the Company and each Guarantor of the documents referred to in this Section 12.

12.1.4 [Intentionally Omitted]

12.1.5 Related Agreements. A fully executed original of the following Related Agreements, executed by each party thereto, together with any other items required to be delivered in connection therewith:

(a)

the Waiver and Omnibus Amendment Agreement,

(b)

the Guaranty and Collateral Agreement,

(c)

the Intercreditor Agreement,

(d)

Patent and Trademark Security Agreement (as defined in the Guaranty and Collateral Agreement),

(e)

(f)

the FTI Engagement Letter referred to in the Waiver and Omnibus Amendment Agreement together with the Confidentiality Agreements referred to therein,

(g)

the Projections referred to in the Waiver and Omnibus Amendment Agreement,

(h)

the Fee Agreement executed in connection with the Waiver and Omnibus Amendment Agreement,

(i)

the Sharing Agreement executed in connection with the Waiver and Omnibus Amendment Agreement, and

(j)

each other agreement, document and instrument executed and delivered in connection with the foregoing.

12.1.6 Opinions of Counsel. Opinions of counsel for the Company and each Guarantor, including local counsel reasonably requested by the Administrative Agent, and all other opinions issued pursuant to the Related Transactions (addressed to the Administrative Agent and the Lenders, or with a reliance letter in favor of the Administrative Agent and the Lenders acceptable to the Administrative Agent).

12.1.7 Insurance. Evidence of the existence of insurance required to be maintained pursuant to Section 10.3(b), together with evidence that the Collateral Agent has been named as a lender’s loss payee and an additional insured on all related insurance policies.

12.1.8 [Intentionally Omitted]

12.1.9 Payment of Fees. Evidence of payment by the Company of all accrued and unpaid fees, costs and expenses to the extent then due and payable on the Closing Date, together with all Attorney Costs of the Administrative Agent to the extent invoiced prior to the Closing Date, plus the retainer fee of Bingham McCutchen LLP in the amount of $150,000, plus all fees and expenses required to be paid under Sections 8 and 9 of the Omnibus Waiver and Amendment Agreement, plus such additional amounts of Attorney Costs as shall constitute the Administrative Agent’s reasonable estimate of Attorney Costs incurred or to be incurred by the Administrative Agent through the closing proceedings (provided that such estimate shall not thereafter preclude final settling of accounts between the Company and the Administrative Agent).

12.1.10 [Intentionally Omitted]

12.1.11 [Intentionally Omitted]

12.1.12 [Intentionally Omitted]

12.1.13 Search Results; Lien Terminations. Certified copies of Uniform Commercial Code search reports dated a date reasonably near to the Closing Date, listing all effective financing statements which name any Loan Party or Voyager or any of its Subsidiaries (under their present names and any previous names) as debtors, together with (a) copies of such financing statements, and (b) such other Uniform Commercial Code termination statements as the Administrative Agent may reasonably request.

12.1.14 Closing Certificate, Consents and Permits. A certificate executed by an officer of the Company on behalf of the Company certifying the matters set forth in Section 12.2.1 as of the Closing Date.

12.1.15 Existing Bank Credit Agreement Notice of Borrowing, Etc. The Administrative Agent shall have received (i) a copy, certified to be true and correct, of the irrevocable “Notice of Borrowing” (as defined in the Existing Bank Credit Agreement) under the Existing Bank Credit Agreement for the making of loans and the issuance of letters of credit thereunder on the Closing Date and (ii) evidence reasonably satisfactory to the Administrative Agent that the Loans to be made hereunder are the Lenders’ Superpriority Pro Rata Share of all Superpriority Loan Advances to be advanced at such time, including, for the avoidance of doubt, under the Existing Bank Credit Agreement.

12.1.16 Other. Such other documents as the Administrative Agent may reasonably request.

12.2 Conditions. The obligation of each Lender to make each Loan is subject to the following further conditions precedent that:

12.2.1 Compliance with Warranties, No Default, etc. Both before and after giving effect to any borrowing, but subject to the waivers set forth in the Waiver and Omnibus Amendment Agreement, the following statements shall be true and correct:

(a) the representations and warranties of each Loan Party set forth in this Agreement and the other Loan Documents shall be true and correct in all respects with the same effect as if then made (except to the extent stated to relate to a specific earlier date, in which case such representations and warranties shall be true and correct as of such earlier date); and

(b) no Event of Default or Unmatured Event of Default shall have then occurred and be continuing without having been waived, whether temporarily or otherwise, except, with the consent of the Required Lenders, with respect to borrowings in an aggregate principal amount not greater than the lesser of (i) the unused amount of Revolving Commitment, minus the outstanding amount of any loans advanced under Section 6.1.2 of the Existing Bank Credit Agreement to fund the Unfunded 2006 Advances which have not been purchased by the Lenders pursuant to Section 10.1(c) of the Waiver and Omnibus Amendment Agreement, (ii) the unused amount of Revolving Availability, minus the outstanding amount of any loans advanced under Section 6.1.2 of the Existing Bank Credit Agreement to fund the Unfunded 2006 Advances which have not been purchased by the Lenders pursuant to Section 10.1(c) of the Waiver and Omnibus Amendment Agreement, and (iii) $2,066,204.74.

12.2.2 Confirmatory Certificate. If requested by the Administrative Agent or any Lender, the Administrative Agent shall have received (in sufficient counterparts to provide one to each Lender) a certificate dated the date of such requested Loan and signed by a duly authorized representative of the Company as to the matters set out in Section 12.2.1 (it being understood that each request by the Company for the making of a Loan shall be deemed to constitute a representation and warranty by the Company that the conditions precedent set forth in Section 12.2.1 will be satisfied at the time of the making of such Loan), together with such other documents as the Administrative Agent or any Lender may reasonably request in support thereof.

12.2.3 Existing Bank Credit Agreement Notice of Borrowing; Etc.. The Administrative Agent shall have received (a) a copy, certified to be true and correct, of the irrevocable “Notice of Borrowing” (as defined in the Existing Bank Credit Agreement) under the Existing Bank Credit Agreement for the making of loans and the issuance of letters of credit thereunder on the proposed funding date hereunder and (b) evidence reasonably satisfactory to the Administrative Agent that the Loans to be made hereunder are the Lenders’ Superpriority Pro Rata Share of all Superpriority Loan Advances to be advanced at such time, including, for the avoidance of doubt, under the Existing Bank Credit Agreement; provided, however, in the event that 2006 Letters of Credit have been issued under the Existing Bank Credit Agreement prior to the date of such funding and as a consequence the Existing Bank Credit Agreement Lenders cannot fund their entire Superpriority Pro Rata Share of the Superpriority Loan Advances then requested without the aggregate principal amount of all Superpriority Advances outstanding under the Existing Bank Credit Agreement exceeding an amount equal to (x) the lesser of (i) the Revolving Commitments (as defined in the Existing Bank Credit Agreement) and (ii) the Revolving Availability (as defined in the Existing Bank Credit Agreement) plus (y) the amount of any Superpriority Advances funded by the Existing Bank Credit Agreement Lenders pursuant to Section 10.1(c)(ii) of the Waiver and Omnibus Amendment Agreement which have not been purchased by the Lenders pursuant to Section 10.1(c)(ii) thereof (the amount by which such

funding would exceed such amount is hereinafter referred to as the “Excess Amount”), then each Lender shall fund its Pro Rata Share of the Excess Amount provided that (a) subject to Section 10 of the Waiver and Omnibus Amendment Agreement, all other conditions precedent to such Loan have been satisfied, (b) in no event after giving effect to such funding shall the aggregate principal amount of all Loans funded by a Lender exceed its Commitment, (c) in no event after giving effect to such funding shall the aggregate principal amount of all Superpriority Loan Advances funded by the Lenders hereunder exceed an amount equal to (x) the lesser of (i) the Revolving Commitments and (ii) the Revolving Availability, minus (y) the amount of any Superpriority Advances funded by the Existing Bank Credit Agreement Lenders pursuant to Section 10.1(c)(ii) of the Waiver and Omnibus Amendment Agreement which have not been purchased by the Lenders pursuant to Section 10.1(c)(ii) thereof and (d) after giving effect to such funding, the aggregate amount of all Superpriority Advances funded by the Lenders hereunder shall not constitute more than the Lenders’ Superpriority Pro Rata Share of all Superpriority Advances.

12.2.4 Waiver and Omnibus Amendment Agreement. All conditions precedent to the making of Superpriority Loan Advances under the Waiver and Omnibus Amendment Agreement and all other requirements of the Waiver and Omnibus Amendment Agreement shall have been satisfied, except with respect to the conditions that the Existing Bank Credit Agreement Lenders be making their corresponding pro rata portion of such Superpriority Loan Advances under the Existing Bank Credit Agreement, if such condition is waived by the Required Lenders (but subject to the limitation reflected in Sections 2.5 and 12.2.1(b)), and except as otherwise permitted under Section 10.1(b) of the Waiver and Omnibus Amendment Agreement and Sections 2.5 and 12.2.1(b) of this Agreement, the Administrative Agent shall not have received written notice of the occurrence of an Event of Default (as defined in the Waiver and Omnibus Amendment Agreement) at least one Business Day prior to the date such Loan is to be made and such default has not been waived in writing by the Required Creditor Group.

SECTION 13 EVENTS OF DEFAULT AND THEIR EFFECT.

13.1 Events of Default. Each of the following shall constitute an Event of Default under this Agreement:

13.1.1 Non-Payment of the Loans, etc. Default in the payment when due of the principal of any Loan; or default, and continuance thereof for five days, in the payment when due of any interest, fee, and any amount payable by the Company hereunder or under any other Loan Document.

13.1.2 Cross-Default and Non-Payment of Other Debt. (i) Any Event of Default (as defined in the Existing Bank Credit Agreement), any Event of Default (as defined in the 2002 Notes (as defined in the Waiver and Omnibus Amendment Agreement) or any Event of Default (as defined in the 2005 Notes (as defined in the Waiver and Omnibus Amendment Agreement) shall occur or (ii) any default shall occur under the terms applicable to any Debt of any Loan Party in an aggregate amount (for all such Debt so affected and including undrawn committed or available amounts and amounts owing to all creditors under any combined or syndicated credit arrangement) exceeding $5,000,000 and such default shall (a) consist of the failure to pay such Debt when due, whether by acceleration or otherwise, or (b) accelerate the maturity of such Debt

or permit the holder or holders thereof, or any trustee or agent for such holder or holders, to cause such Debt to become due and payable (or require any Loan Party to purchase or redeem such Debt or post cash collateral in respect thereof) prior to its expressed maturity.

13.1.3 Other Material Obligations. Default in the payment when due, or in the performance or observance of, any material obligation of, or condition agreed to by, any Loan Party with respect to any material purchase or lease of goods or services where such default, singly or in the aggregate with all other such defaults, might reasonably be expected to have a Material Adverse Effect.

13.1.4 Bankruptcy, Insolvency, etc. Any Loan Party becomes insolvent or generally fails to pay, is adjudicated as insolvent or to be liquidated or admits in writing its inability or refusal to pay, debts as they become due or any Loan Party takes any action to authorize, or in furtherance of, any of the foregoing; or any Loan Party applies for, consents to, or acquiesces in the appointment of a custodian, receiver, trustee or other officer with similar powers for such Loan Party or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a custodian, receiver, trustee or other officer with similar powers is appointed for any Loan Party or for a substantial part of the property of any thereof and is not discharged within 60 days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, or any other proceeding to take advantage of any bankruptcy, insolvency, reorganization, moratorium or other similar law of any jurisdiction, is commenced in respect of any Loan Party, and if such case or proceeding is not commenced by such Loan Party, it is consented to or acquiesced in by such Loan Party, or remains for 60 days undismissed; or any Loan Party takes any action to authorize, or in furtherance of, any of the foregoing.

13.1.5 Non-Compliance with Waiver and Omnibus Amendment Agreement or Other Loan Documents. (a) Default by any Loan Party in the performance of or compliance with any term of the Waiver and Omnibus Amendment Agreement (including, without limitation, any exhibit thereto); or (b) the failure by any Loan Party to comply with or to perform any covenant set forth in Section 10.3(b), 10.5 or 10.9; or (c) the failure by any Loan Party to comply with or to perform any other provision of this Agreement or any other Loan Document (and not constituting an Event of Default under any other provision of this Section 13, including without limitation clauses (a) and (b) of this Section 13.1.5) and continuance of such failure described in this clause (c) for 30 days.

13.1.6 Representations; Warranties. Any representation or warranty made by any Loan Party herein or any other Loan Document is breached or is false or misleading in any material respect, or any schedule, certificate, financial statement, report, notice or other writing furnished by any Loan Party to the Administrative Agent or any Lender in connection herewith is false or misleading in any material respect on the date as of which the facts therein set forth are stated or certified.

13.1.7 Pension Plans. (a) Any Person institutes steps to terminate a Pension Plan if as a result of such termination the Company or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to

such Pension Plan, in excess of $5,000,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 302(f) of ERISA; (c) the Unfunded Liability exceeds twenty percent of the Total Plan Liability, or (d) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that the Company or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $5,000,000.

13.1.8 Judgments. Final judgments which exceed an aggregate of $5,000,000 shall be rendered against any Loan Party and shall not have been paid, discharged or vacated or had execution thereof stayed pending appeal within 30 days after entry or filing of such judgments.

13.1.9 Receivables Sale Agreement. Any default occurs under the Receivables Sale Agreement that would permit the holder of the Debt thereunder to require the Company to repurchase Receivables (as defined in the Receivables Sale Agreement).

13.1.10 Change of Control. A Change of Control shall occur.

13.1.11 Invalidity of Loan Document or Intercreditor Agreement.

(a) Any Collateral Document shall cease to be in full force and effect for any reason whatsoever (other than in accordance with its terms) or shall be declared by any court or other Governmental Authority of competent jurisdiction to be void, voidable or unenforceable against the grantor thereunder; (ii) the validity or enforceability of any Collateral Document against the grantor thereunder shall be contested by such grantor; (iii) any grantor under any Collateral Document shall default in the performance of any obligation under such Collateral Document or shall deny that it has any liability or obligation under, or shall contest the validity or enforceability of, such Collateral Document, or (iv) any Collateral Document shall fail or cease to create a valid and perfected and, except to the extent permitted by the terms of the Waiver and Omnibus Amendment Agreement or such Collateral Document, first priority Lien in favor of the Collateral Agent for the benefit of the Lenders on any Collateral purported to be covered thereby, or (v) any Loan Party challenges the validity, perfection or priority of any such Lien; or

(b) the provisions of the Intercreditor Agreement governing priorities regarding any of the Collateral or any agreement or instrument governing priority with respect to any of any Collateral shall for any reason be revoked or invalidated, or otherwise cease to be in full force and effect, or any Existing Bank Credit Agreement Lender shall contest in writing the validity or enforceability thereof or deny that it has any further liability or obligation thereunder (and such contest or denial is not withdrawn); or

(c) any Loan Document, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or satisfaction in full of all the Secured Obligations, ceases to be in full force and effect; or any Loan Party or any other Person contests in any manner the validity or enforceability of any Loan Document; or any Loan Party denies that it has any or further liability or obligation under any Loan Document, or purports to revoke, terminate or rescind any Loan Document.

13.1.12 [Intentionally Omitted]

13.1.13 Material Adverse Effect. The occurrence of any event having a Material Adverse Effect.

13.2 Effect of Event of Default. If any Event of Default described in Section 13.1.4 shall occur in respect of the Company, the Commitments shall immediately terminate and the Loans and all other Obligations hereunder shall become immediately due and payable, all without presentment, demand, protest or notice of any kind. If any Event of Default described in Section 13.1.1 shall occur in respect of the Company, then any Lender may declare such Lender’s Commitment to be terminated in whole or in part and/or declare all or any part of the Loans advanced by such Lender and all other Obligations owing to such Lender hereunder to be due and payable, whereupon such Commitment shall immediate terminate (or be reduced, as applicable) and/or such Loans and other Obligations hereunder shall become immediately due and payable (in whole or in part, as applicable), all without presentment, demand, protest or notice of any kind. If any other Event of Default (other than an Event of Default described in Sections 13.1.1 or 13.1.4) shall occur and be continuing, then the Administrative Agent may (and, upon the written request of Required Lenders shall), subject to the terms of the Waiver and Omnibus Amendment Agreement (including Section 10 thereof), declare the Commitments to be terminated in whole or in part and/or declare all or any part of the Loans and all other Obligations hereunder to be due and payable, whereupon the Commitments shall immediately terminate (or be reduced, as applicable) and/or the Loans and other Obligations hereunder shall become immediately due and payable (in whole or in part, as applicable) (all or any, as applicable), all without presentment, demand, protest or notice of any kind. The Administrative Agent shall promptly advise the Company of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding anything to the contrary in this Agreement, any and all rights and remedies of the Administrative Agent and the Lenders upon the occurrence of an Event of Default are subject to the applicable terms of the Intercreditor Agreement so long as it is in effect. No Lender shall take any action to foreclose, enforce or realize upon (judicially or non-judicially) Liens on any Collateral except through the Collateral Agent and in accordance with the terms of the Intercreditor Agreement. The Lenders further agree that all proceeds of any such foreclosure, enforcement or realization will be shared in accordance with the terms of the Intercreditor Agreement.

SECTION 14 THE AGENT.

14.1 Appointment and Authorization. Each Lender hereby irrevocably (subject to Section 14.10) appoints, designates and authorizes the Administrative Agent to take such action on its behalf under the provisions of this Agreement and each other Loan Document and to exercise such powers and perform such duties as are expressly delegated to it by the terms of this Agreement or any other Loan Document, together with such powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere in this Agreement or in any other Loan Document, the Administrative Agent shall not have any duty or responsibility except those expressly set forth herein, nor shall the Administrative Agent have or be deemed to have any fiduciary relationship with any Lender or participant, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Administrative Agent. Without limiting

the generality of the foregoing sentence, the use of the term “agent” herein and in other Loan Documents 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 merely as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent contracting parties.

14.2 [Intentionally Omitted]

14.3 Delegation of Duties. The Administrative Agent may execute any of its duties under this Agreement or any other Loan Document by or through agents, employees or attorneys-in-fact and shall be entitled to advice of counsel and other consultants or experts concerning all matters pertaining to such duties. The Administrative Agent shall not be responsible for the negligence or misconduct of any agent or attorney-in-fact that it selects in the absence of gross negligence or willful misconduct.

14.4 Exculpation of Administrative Agent. None of the Administrative Agent nor any of its directors, officers, employees or agents shall (a) be liable for any action taken or omitted to be taken by any of them under or in connection with this Agreement or any other Loan Document or the transactions contemplated hereby (except to the extent resulting from its own gross negligence or willful misconduct in connection with its duties expressly set forth herein as determined by a final, nonappealable judgment by a court of competent jurisdiction), or (b) be responsible in any manner to any Lender or participant for any recital, statement, representation or warranty made by any Loan Party or Affiliate of the Company, or any officer thereof, contained in this Agreement or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for in, or received by the Administrative Agent under or in connection with, this Agreement or any other Loan Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document (or the creation, perfection or priority of any Lien or security interest therein), or for any failure of the Company or any other party to any Loan Document to perform its Obligations hereunder or thereunder. The Administrative Agent shall not be under any obligation to any Lender to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of the Company or any of the Company’s Subsidiaries or Affiliates.

14.5 Reliance by Administrative Agent. The Administrative Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing, communication, signature, resolution, representation, notice, consent, certificate, electronic mail message, affidavit, letter, telegram, facsimile, telex or telephone message, statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons, and upon advice and statements of legal counsel (including counsel to the Company), independent accountants and other experts selected by the Administrative Agent. The Administrative Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Loan Document unless it shall first receive such advice or concurrence of the Required Lenders as it deems appropriate and, if it so requests, confirmation from the Lenders of their obligation to indemnify the Administrative Agent against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action. The Administrative Agent shall in all cases be fully protected in acting, or in

refraining from acting, under this Agreement or any other Loan Document in accordance with a request or consent of the Required Lenders (or, as to matters requiring the consent of a greater number of Lenders hereunder, such greater number) and such request and any action taken or failure to act pursuant thereto shall be binding upon each Lender. For purposes of determining compliance with the conditions specified in Section 12, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received written notice from such Lender prior to the proposed Closing Date specifying its objection thereto.

14.6 Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Event of Default or Unmatured Event of Default except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Company referring to this Agreement, describing such Event of Default or Unmatured Event of Default and stating that such notice is a “notice of default”. The Administrative Agent will notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to such Event of Default or Unmatured Event of Default as may be requested by the Required Lenders in accordance with Section 13; provided that unless and until the Administrative Agent has received any such request, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default or Unmatured Event of Default as it shall deem advisable or in the best interest of the Lenders.

14.7 Credit Decision. Each Lender acknowledges that the Administrative Agent has not made any representation or warranty to it, and that no act by the Administrative Agent hereafter taken, including any consent and acceptance of any assignment or review of the affairs of the Loan Parties, shall be deemed to constitute any representation or warranty by the Administrative Agent to any Lender as to any matter, including whether the Administrative Agent has disclosed material information in its possession. Each Lender represents to the Administrative Agent that it has, independently and without reliance upon the Administrative Agent and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, prospects, operations, property, financial and other condition and creditworthiness of the Loan Parties, and made its own decision to enter into this Agreement and to extend credit to the Company hereunder. Each Lender also represents that it will, independently and without reliance upon the Administrative Agent and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to make such investigations as it deems necessary to inform itself as to the business, prospects, operations, property, financial and other condition and creditworthiness of the Company. Except for notices, reports and other documents expressly herein required to be furnished to the Lenders by the Administrative Agent, the Administrative Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, prospects, operations, property, financial or other condition or creditworthiness of the Company which may come into the possession of the Administrative Agent.

14.8 Indemnification. Whether or not the transactions contemplated hereby are consummated, each Lender shall indemnify upon demand the Administrative Agent and its directors, officers, employees and agents (to the extent not reimbursed by or on behalf of the Company and without limiting the obligation of the Company to do so), according to its applicable Pro Rata Share, from and against any and all Indemnified Liabilities (as hereinafter defined); provided that no Lender shall be liable for any payment to any such Person of any portion of the Indemnified Liabilities to the extent determined by a final, nonappealable judgment by a court of competent jurisdiction to have resulted from the applicable Person’s own gross negligence or willful misconduct. No action taken in accordance with the directions of the Required Lenders shall be deemed to constitute gross negligence or willful misconduct for purposes of this Section. Without limitation of the foregoing, each Lender shall reimburse the Administrative Agent upon demand for its ratable share of any reasonable costs or out-of-pocket expenses (including Attorney Costs and Taxes) incurred by the Administrative 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, any other Loan Document, or any document contemplated by or referred to herein, to the extent that the Administrative Agent is not reimbursed for such expenses by or on behalf of the Company. The undertaking in this Section shall survive repayment of the Loans, cancellation of the Notes, termination of this Agreement and the resignation or replacement of the Administrative Agent.

14.9 Administrative Agent in Individual Capacity. ING and its Affiliates may make loans to, issue letters of credit for the account of, accept deposits from, acquire equity interests in and generally engage in any kind of banking, trust, financial advisory, underwriting or other business with the Loan Parties and Affiliates as though ING were not the Administrative Agent hereunder and without notice to or consent of any Lender. Each Lender acknowledges that, pursuant to such activities, ING or its Affiliates may receive information regarding the Company or its Affiliates (including information that may be subject to confidentiality obligations in favor of the Company or such Affiliate) and acknowledge that the Administrative Agent shall be under no obligation to provide such information to them. With respect to their Loans (if any), ING and its Affiliates shall have the same rights and powers under this Agreement as any other Lender and may exercise the same as though ING were not the Administrative Agent, and the terms “Lender” and “Lenders” include ING and its Affiliates, to the extent applicable, in their individual capacities.

14.10 Successor Administrative Agent. The Administrative Agent may resign as Administrative Agent upon 30 days’ notice to the Lenders. If the Administrative Agent resigns under this Agreement, the Required Lenders shall, with (so long as no Event of Default exists) the consent of the Company (which shall not be unreasonably withheld or delayed), appoint from among the Lenders a successor agent for the Lenders. If no successor agent is appointed prior to the effective date of the resignation of the Administrative Agent, the Administrative Agent may appoint, after consulting with the Lenders and the Company, a successor agent from among the Lenders. Upon the acceptance of its appointment as successor agent hereunder, such successor agent shall succeed to all the rights, powers and duties of the retiring Administrative Agent and the term “Administrative Agent” shall mean such successor agent, and the retiring Administrative Agent’s appointment, powers and duties as Administrative Agent shall be terminated. After any retiring Administrative Agent’s resignation hereunder as Administrative

Agent, the provisions of this Section 14 and Sections 15.5 and 15.16 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under this Agreement. If no successor agent has accepted appointment as Administrative Agent by the date which is 30 days following a retiring Administrative Agent’s notice of resignation, the retiring Administrative Agent’s resignation shall nevertheless thereupon become effective and the Lenders shall perform all of the duties of the Administrative Agent hereunder until such time, if any, as the Required Lenders appoint a successor agent as provided for above.

14.11 Administrative Agent May File Proofs of Claim. In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Company) shall be entitled and empowered, by intervention in such proceeding or otherwise:

(a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders and the Administrative Agent under Sections 5, 15.5 and 15.16) allowed in such judicial proceedings; and

(b) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Sections 5, 15.5 and 15.16.

Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or to authorize the Administrative Agent to vote in respect of the claim of any Lender in any such proceeding.

14.12 [Intentionally Omitted]

SECTION 15 GENERAL.

15.1 Waiver; Amendments. No delay on the part of the Administrative Agent, the Collateral Agent or any Lender in the exercise of any right, power or remedy shall operate as a waiver thereof, nor shall any single or partial exercise by any of them of any right, power or

remedy preclude other or further exercise thereof, or the exercise of any other right, power or remedy. No amendment, modification or waiver of, or consent with respect to, any provision of this Agreement or the other Loan Documents shall in any event be effective unless the same shall be in writing and acknowledged by Lenders having an aggregate Pro Rata Share of not less than the aggregate Pro Rata Shares expressly designated herein with respect thereto or, in the absence of such designation as to any provision of this Agreement, by the Required Lenders, and then any such amendment, modification, waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. No amendment, modification, waiver or consent shall (a) extend or increase the Commitment of any Lender without the written consent of such Lender, (b) extend the date scheduled for any payment of principal (excluding mandatory prepayments other than the mandatory prepayments due under Section 6.2.2) of or interest on the Loans or any fees payable hereunder without the written consent of each Lender directly affected thereby, (c) reduce the principal amount of any Loan, the rate of interest thereon or any fees payable hereunder, without the consent of each Lender directly affected thereby; or (d) release any party from its obligations under the Guaranty or any other Collateral Document (except as provided in the Intercreditor Agreement); change the definition of Required Lenders, application of payments, sharing of setoffs, or funding of any indemnification in accordance with the Pro Rata Shares of the Lenders; or change any provision of this Section 15.1, or reduce the aggregate Pro Rata Share required to effect an amendment, modification, waiver or consent, without, in each case, the written consent of all Lenders. No provision of Section 14 or other provision of this Agreement affecting the Administrative Agent in its capacity as such shall be amended, modified or waived without the consent of the Administrative Agent. No provision of any Loan Document affecting the Collateral Agent in its capacity as such shall be amended, modified or waived without the consent of the Collateral Agent. Notwithstanding anything herein to the contrary, no Defaulting Lender shall be entitled to vote (whether to consent or to withhold its consent) with respect to any amendment, modification, termination or waiver of any provision of this Agreement or any other Loan Document or any departure therefrom or any direction from the Lenders to the Administrative Agent, and, for purposes of determining the Required Lenders at any time, the Commitment and Revolving Outstandings of each Defaulting Lender shall be disregarded. Nothing in this Section 15.1 shall be deemed to negate or otherwise affect the requirements of Section 12.1 of the Waiver and Omnibus Amendment Agreement or Section 6.4 of the Intercreditor Agreement.

15.2 Confirmations. The Company and each holder of a Note agree from time to time, upon written request received by it from the other, to confirm to the other in writing (with a copy of each such confirmation to the Administrative Agent) the aggregate unpaid principal amount of the Loans then outstanding under such Note.

15.3 Notices. Except as otherwise provided in Sections 2.2.2 and 2.2.3, all notices hereunder shall be in writing (including facsimile transmission) and shall be sent to the applicable party at its address shown on Annex B or at such other address as such party may, by written notice received by the other parties, have designated as its address for such purpose. Notices sent by facsimile transmission shall be deemed to have been given when sent; notices sent by mail shall be deemed to have been given three Business Days after the date when sent by registered or certified mail, postage prepaid; and notices sent by hand delivery or overnight courier service shall be deemed to have been given when received. For purposes of Sections 2.2.2 and 2.2.3, the Administrative Agent shall be entitled to rely on telephonic instructions from

any person that the Administrative Agent in good faith believes is an authorized officer or employee of the Company, and the Company shall hold the Administrative Agent and each other Lender harmless from any loss, cost or expense resulting from any such reliance.

15.4 Computations. Where the character or amount of any asset or liability or item of income or expense is required to be determined, or any consolidation or other accounting computation is required to be made, for the purpose of this Agreement, such determination or calculation shall, to the extent applicable and except as otherwise specified in this Agreement, be made in accordance with GAAP, consistently applied; provided that if the Company notifies the Administrative Agent that the Company wishes to amend any covenant in Section 10 (or any related definition) to eliminate or to take into account the effect of any change in GAAP on the operation of such covenant (or if the Administrative Agent notifies the Company that the Required Lenders wish to amend Section 10 (or any related definition) for such purpose), then the Company’s compliance with such covenant shall be determined on the basis of GAAP in effect immediately before the relevant change in GAAP became effective, until either such notice is withdrawn or such covenant (or related definition) is amended in a manner satisfactory to the Company and the Required Lenders. With respect to any Computation Period during which an Acquisition or Disposition has occurred, the Leverage Ratio, the Fixed Charge Coverage Ratio and all financial covenants shall be calculated after giving pro forma effect thereto in a manner reasonably acceptable to the Administrative Agent as if such Acquisition or Disposition had occurred as of the first day of the relevant Computation Period for which such financial covenant is tested.

15.5 Costs, Expenses and Taxes. The Company agrees to pay on demand all reasonable out-of-pocket costs and expenses of the Administrative Agent (including Attorney Costs and any Taxes) in connection with the preparation, execution, syndication, delivery and administration (including perfection and protection of any collateral, if any, and the costs of Intralinks (or other similar service), if applicable) of this Agreement, the other Loan Documents and all other documents provided for herein or delivered or to be delivered hereunder or in connection herewith (including any amendment, supplement or waiver to any Loan Document), whether or not the transactions contemplated hereby or thereby shall be consummated, and all reasonable out-of-pocket costs and expenses (including Attorney Costs and any Taxes) incurred by the Administrative Agent and each Lender after an Event of Default in connection with the collection of the Obligations or the enforcement of this Agreement the other Loan Documents or any such other documents or during any workout, restructuring or negotiations in respect thereof. In addition, the Company agrees to pay, and to save the Administrative Agent and the Lenders harmless from all liability for, any fees of the Company’s auditors in connection with any reasonable exercise by the Administrative Agent and the Lenders of their rights pursuant to Section 10.2. All Obligations provided for in this Section 15.5 shall survive repayment of the Loans, cancellation of the Notes, expiration and termination of this Agreement.

15.6 Assignments; Participations.

15.6.1 Assignments. (a) Subject to the Omnibus Waiver and Amendment Agreement, any Lender may at any time assign to one or more Persons (any such Person, an “Assignee”) all or any portion of such Lender’s Loans and Commitments, with the prior written consent of the Administrative Agent (for an assignment of the Revolving Loans and the Revolving

Commitment) and, so long as no Event of Default exists, the Company (which consents shall not be unreasonably withheld or delayed and shall not be required for an assignment by a Lender to a Lender or an Affiliate of a Lender). Except as the Administrative Agent may otherwise agree, any such assignment shall be in a minimum aggregate amount equal to the Lenders’ Superpriority Pro Rata Share of $5,000,000 or, if less, the remaining Commitment and Loans held by the assigning Lender. The Company and the Administrative Agent shall be entitled to continue to deal solely and directly with such Lender in connection with the interests so assigned to an Assignee until the Administrative Agent shall have received and accepted an effective assignment agreement in substantially the form of Exhibit C hereto (an “Assignment Agreement”) executed, delivered and fully completed by the applicable parties thereto and a processing fee of $3,500. No assignment may be made to any Person if (i) at the time of such assignment the Company would be obligated to pay any greater amount under Section 7.6 or 8 to the Assignee than the Company is then obligated to pay to the assigning Lender under such Sections (and if any assignment is made in violation of the foregoing, the Company will not be required to pay such greater amounts) or (ii) such Assignee shall fail to execute a joinder agreement in form and substance satisfactory to the Administrative Agent to the Waiver and Omnibus Amendment Agreement. Any attempted assignment not made in accordance with this Section 15.6.1 shall be treated as the sale of a participation under Section 15.6.2. The Company shall be deemed to have granted its consent to any assignment requiring its consent hereunder unless the Company has expressly objected to such assignment within three Business Days after notice thereof.

(b) From and after the date on which the conditions described above have been met, (i) such Assignee shall be deemed automatically to have become a party hereto and, to the extent that rights and obligations hereunder have been assigned to such Assignee pursuant to such Assignment Agreement, shall have the rights and obligations of a Lender hereunder and (ii) the assigning Lender, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment Agreement, shall be released from its rights (other than its indemnification rights) and obligations hereunder. Upon the request of the Assignee (and, as applicable, the assigning Lender) pursuant to an effective Assignment Agreement, the Company shall execute and deliver to the Administrative Agent for delivery to the Assignee (and, as applicable, the assigning Lender) a Note in the principal amount of the Assignee’s Pro Rata Share of the Revolving Commitment (and, as applicable, a Note in the principal amount of the Pro Rata Share of the Revolving Commitment retained by the assigning Lender). Each such Note shall be dated the effective date of such assignment. Upon receipt by the assigning Lender of such Note, the assigning Lender shall return to the Company any prior Note held by it.

(c) Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall not apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

15.6.2 Participations. Any Lender may at any time sell to one or more Persons participating interests in its Loans, Commitments or other interests hereunder (any such Person, a “Participant”). In the event of a sale by a Lender of a participating interest to a Participant, (a)

such Lender’s obligations hereunder shall remain unchanged for all purposes, (b) the Company and the Administrative Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations hereunder and (c) all amounts payable by the Company shall be determined as if such Lender had not sold such participation and shall be paid directly to such Lender. No Participant shall have any direct or indirect voting rights hereunder except with respect to any event described in Section 15.1 expressly requiring the unanimous vote of all Lenders or, as applicable, all affected Lenders. Each Lender agrees to incorporate the requirements of the preceding sentence into each participation agreement which such Lender enters into with any Participant. The Company agrees that if amounts outstanding under this Agreement are due and payable (as a result of acceleration or otherwise), each Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Lender under this Agreement; provided that such right of set-off shall be subject to the obligation of each Participant to share with the Lenders, and the Lenders agree to share with each Participant, as provided in Section 7.5. The Company also agrees that each Participant shall be entitled to the benefits of Section 7.6 or 8 as if it were a Lender (provided that on the date of the participation no Participant shall be entitled to any greater compensation pursuant to Section 7.6 or 8 than would have been paid to the participating Lender on such date if no participation had been sold and that each Participant complies with Section 7.6(d) as if it were an Assignee).

15.7 Register. The Administrative Agent shall maintain a copy of each Assignment Agreement delivered and accepted by it and register (the “Register”) for the recordation of names and addresses of the Lenders and the Commitment of each Lender from time to time and whether such Lender is the original Lender, a new Lender or the Assignee. No assignment or assumption shall be effective unless and until the relevant Assignment Agreement is accepted and registered in the Register. All records of transfer of a Lender’s interest in the Register shall be conclusive, absent manifest error, as to the ownership of the interests in the Loans. The Administrative Agent shall not incur any liability of any kind with respect to any Lender with respect to the maintenance of the Register.

15.8 GOVERNING LAW. THIS AGREEMENT AND EACH NOTE SHALL BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES.

15.9 Confidentiality. The Administrative Agent and each Lender agree to use commercially reasonable efforts (equivalent to the efforts the Administrative Agent or such Lender applies to maintain the confidentiality of its own confidential information) to maintain as confidential all information provided to them by any Loan Party and designated as confidential, except that the Administrative Agent and each Lender may disclose such information (a) to Persons employed or engaged by the Administrative Agent or such Lender in evaluating, approving, structuring or administering the Loans and the Commitments; (b) to any assignee or participant or potential assignee or participant that has agreed to comply with the covenant contained in this Section 15.9 (and any such assignee or participant or potential assignee or participant may disclose such information to Persons employed or engaged by them as described

in clause (a) above); (c) as required or requested by any federal or state regulatory authority or examiner, or any insurance industry association, or as reasonably believed by the Administrative Agent or such Lender to be compelled by any court decree, subpoena or legal or administrative order or process; (d) as, on the advice of the Administrative Agent’s or such Lender’s counsel, is required by law; (e) in connection with the exercise of any right or remedy under the Loan Documents or in connection with any litigation to which the Administrative Agent or such Lender is a party; (f) to any nationally recognized rating agency that requires access to information about a Lender’s investment portfolio in connection with ratings issued with respect to such Lender; (g) that ceases to be confidential through no fault of the Administrative Agent or any Lender or (h) to any Existing Bank Credit Agreement Lender or any holders of the 2002 Notes or holders of the 2005 Notes. Notwithstanding the foregoing, the Company consents to the publication by the Administrative Agent or any Lender of a tombstone or similar advertising material relating to the financing transactions contemplated by this Agreement, and the Administrative Agent reserves the right to provide to industry trade organizations information necessary and customary for inclusion in league table measurements. Notwithstanding anything in this Agreement or any other Loan Document to the contrary, any information with respect to the “tax treatment” or “tax structure” (in each case, within the meaning of Treasury Regulation Section 1.6011-4) of the transactions contemplated hereby shall not be confidential and the Administrative Agent and the Lenders and other parties hereto may disclose without limitation of any kind any information that is provided to the Administrative Agent or the Lenders with respect to the “tax treatment” or “tax structure” (in each case, within the meaning of Treasury Regulation Section 1.6011-4); provided, that to the extent any Loan Document contains information that relates to the “tax treatment” or “tax structure” and contains other information, this paragraph shall only apply to the information regarding the “tax treatment” or “tax structure.”

15.10 Severability. Whenever possible each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement. All obligations of the Company and rights of the Administrative Agent and the Lenders expressed herein or in any other Loan Document shall be in addition to and not in limitation of those provided by applicable law.

15.11 Nature of Remedies. All Obligations of the Company and rights of the Administrative Agent and the Lenders expressed herein or in any other Loan Document shall be in addition to and not in limitation of those provided by applicable law. No failure to exercise and no delay in exercising, on the part of the Administrative Agent or any Lender, any right, remedy, power or privilege hereunder, shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

15.12 Entire Agreement. This Agreement, together with the other Loan Documents, embodies the entire agreement and understanding among the parties hereto and supersedes all prior or contemporaneous agreements and understandings of such Persons, verbal or written, relating to the subject matter hereof and thereof and any prior arrangements made with respect to

the payment by the Company of (or any indemnification for) any fees, costs or expenses payable to or incurred (or to be incurred) by or on behalf of the Administrative Agent or the Lenders.

15.13 Counterparts. This Agreement may be executed in any number of counterparts and by the different parties hereto on separate counterparts and each such counterpart shall be deemed to be an original, but all such counterparts shall together constitute but one and the same Agreement. Receipt of an executed signature page to this Agreement by facsimile or other electronic transmission shall constitute effective delivery thereof. Electronic records of executed Loan Documents maintained by the Lenders shall deemed to be originals.

15.14 Successors and Assigns. This Agreement shall be binding upon the Company, the Lenders and the Administrative Agent and their respective successors and assigns, and shall inure to the benefit of the Company, the Lenders and the Administrative Agent and the successors and assigns of the Lenders and the Administrative Agent. No other Person shall be a direct or indirect legal beneficiary of, or have any direct or indirect cause of action or claim in connection with, this Agreement or any of the other Loan Documents. The Company may not assign or transfer any of its rights or Obligations under this Agreement without the prior written consent of the Administrative Agent and each Lender.

15.15 Captions. Section captions used in this Agreement are for convenience only and shall not affect the construction of this Agreement.

15.16 INDEMNIFICATION BY THE COMPANY. IN CONSIDERATION OF THE EXECUTION AND DELIVERY OF THIS AGREEMENT AND ANY OTHER LOAN DOCUMENT BY THE ADMINISTRATIVE AGENT AND THE LENDERS AND THE AGREEMENT TO PROVIDE THE COMMITMENTS PROVIDED HEREUNDER, THE COMPANY HEREBY AGREES TO INDEMNIFY, EXONERATE AND HOLD THE ADMINISTRATIVE AGENT, THE COLLATERAL AGENT, EACH LENDER AND EACH OF THE OFFICERS, DIRECTORS, EMPLOYEES, AFFILIATES AND AGENTS OF THE ADMINISTRATIVE AGENT AND EACH LENDER (EACH A “LENDER PARTY”) FREE AND HARMLESS FROM AND AGAINST ANY AND ALL ACTIONS, CAUSES OF ACTION, SUITS, LOSSES, LIABILITIES, DAMAGES AND EXPENSES, INCLUDING ATTORNEY COSTS (COLLECTIVELY, THE “INDEMNIFIED LIABILITIES”), INCURRED BY THE LENDER PARTIES OR ANY OF THEM AS A RESULT OF, OR ARISING OUT OF, OR RELATING TO (A) ANY TENDER OFFER, MERGER, PURCHASE OF CAPITAL SECURITIES, PURCHASE OF ASSETS (INCLUDING THE RELATED TRANSACTIONS) OR OTHER SIMILAR TRANSACTION FINANCED OR PROPOSED TO BE FINANCED IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, WITH THE PROCEEDS OF ANY OF THE LOANS, (B) THE USE, HANDLING, RELEASE, EMISSION, DISCHARGE, TRANSPORTATION, STORAGE, TREATMENT OR DISPOSAL OF ANY HAZARDOUS SUBSTANCE AT ANY PROPERTY OWNED OR LEASED BY ANY LOAN PARTY, (C) ANY VIOLATION OF ANY ENVIRONMENTAL LAWS WITH RESPECT TO CONDITIONS AT ANY PROPERTY OWNED OR LEASED BY ANY LOAN PARTY OR THE OPERATIONS CONDUCTED THEREON, (D) THE INVESTIGATION, CLEANUP OR REMEDIATION OF OFFSITE LOCATIONS AT WHICH ANY LOAN PARTY OR THEIR RESPECTIVE PREDECESSORS ARE

ALLEGED TO HAVE DIRECTLY OR INDIRECTLY DISPOSED OF HAZARDOUS SUBSTANCES OR (E) THE EXECUTION, DELIVERY, PERFORMANCE OR ENFORCEMENT OF THIS AGREEMENT, ANY COLLATERAL DOCUMENT OR ANY OTHER LOAN DOCUMENT BY ANY OF THE LENDER PARTIES, EXCEPT FOR ANY SUCH INDEMNIFIED LIABILITIES ARISING ON ACCOUNT OF THE APPLICABLE LENDER PARTY’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT AS DETERMINED BY A FINAL, NONAPPEALABLE JUDGMENT BY A COURT OF COMPETENT JURISDICTION. IF AND TO THE EXTENT THAT THE FOREGOING UNDERTAKING MAY BE UNENFORCEABLE FOR ANY REASON, THE COMPANY HEREBY AGREES TO MAKE THE MAXIMUM CONTRIBUTION TO THE PAYMENT AND SATISFACTION OF EACH OF THE INDEMNIFIED LIABILITIES WHICH IS PERMISSIBLE UNDER APPLICABLE LAW. ALL OBLIGATIONS PROVIDED FOR IN THIS SECTION 15.16 SHALL SURVIVE REPAYMENT OF THE LOANS, CANCELLATION OF THE NOTES, ANY FORECLOSURE UNDER, OR ANY MODIFICATION, RELEASE OR DISCHARGE OF, ANY COLLATERAL, IF ANY, AND TERMINATION OF THIS AGREEMENT.

15.17 Nonliability of Lenders. The relationship between the Company on the one hand and the Lenders and the Administrative Agent on the other hand shall be solely that of borrower and lender. Neither the Administrative Agent nor any Lender has any fiduciary relationship with or duty to any Loan Party arising out of or in connection with this Agreement or any of the other Loan Documents, and the relationship between the Loan Parties, on the one hand, and the Administrative Agent and the Lenders, on the other hand, in connection herewith or therewith is solely that of debtor and creditor. Neither the Administrative Agent nor any Lender undertakes any responsibility to any Loan Party to review or inform any Loan Party of any matter in connection with any phase of any Loan Party’s business or operations. The Company agrees, on behalf of itself and each other Loan Party, that neither the Administrative Agent nor any Lender shall have liability to any Loan Party (whether sounding in tort, contract or otherwise) for losses suffered by any Loan Party in connection with, arising out of, or in any way related to the transactions contemplated and the relationship established by the Loan Documents, or any act, omission or event occurring in connection therewith, unless it is determined in a final non-appealable judgment by a court of competent jurisdiction that such losses resulted from the gross negligence or willful misconduct of the party from which recovery is sought. NO LENDER PARTY SHALL BE LIABLE FOR ANY DAMAGES ARISING FROM THE USE BY OTHERS OF ANY INFORMATION OR OTHER MATERIALS OBTAINED THROUGH INTRALINKS OR OTHER SIMILAR INFORMATION TRANSMISSION SYSTEMS IN CONNECTION WITH THIS AGREEMENT, NOR SHALL ANY LENDER PARTY HAVE ANY LIABILITY WITH RESPECT TO, AND THE COMPANY ON BEHALF OF ITSELF AND EACH OTHER LOAN PARTY, HEREBY WAIVES, RELEASES AND AGREES NOT TO SUE FOR ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR ARISING OUT OF ITS ACTIVITIES IN CONNECTION HEREWITH OR THEREWITH (WHETHER BEFORE OR AFTER THE CLOSING DATE). The Company acknowledges that it has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Loan Documents to which it is a party. No joint venture is created hereby or by the other Loan Documents or otherwise exists by virtue of the transactions contemplated hereby among the Lenders or among the Company and the Lenders.

15.18 FORUM SELECTION AND CONSENT TO JURISDICTION. ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, SHALL BE BROUGHT AND MAINTAINED EXCLUSIVELY IN THE COURTS OF THE STATE OF NEW YORK OR IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK; PROVIDED THAT NOTHING IN THIS AGREEMENT SHALL BE DEEMED OR OPERATE TO PRECLUDE THE ADMINISTRATIVE AGENT FROM BRINGING SUIT OR TAKING OTHER LEGAL ACTION IN ANY OTHER JURISDICTION. THE COMPANY HEREBY EXPRESSLY AND IRREVOCABLY SUBMITS TO THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK FOR THE PURPOSE OF ANY SUCH LITIGATION AS SET FORTH ABOVE. THE COMPANY FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS BY REGISTERED MAIL, POSTAGE PREPAID, OR BY PERSONAL SERVICE WITHIN OR WITHOUT THE STATE OF NEW YORK. THE COMPANY HEREBY EXPRESSLY AND IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH LITIGATION BROUGHT IN ANY SUCH COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY SUCH LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

15.19 WAIVER OF JURY TRIAL. EACH OF THE COMPANY, THE ADMINISTRATIVE AGENT AND EACH LENDER HEREBY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS AGREEMENT, ANY NOTE, ANY OTHER LOAN DOCUMENT AND ANY AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR WHICH MAY IN THE FUTURE BE DELIVERED IN CONNECTION HEREWITH OR THEREWITH OR ARISING FROM ANY LENDING RELATIONSHIP EXISTING IN CONNECTION WITH ANY OF THE FOREGOING, AND AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.

[signature pages follow]

The parties hereto have caused this Agreement to be duly executed and delivered by their duly authorized officers as of the date first set forth above.


PROQUEST COMPANY

By:		/s/ Richard Surratt
Name:		Richard Surratt
Title:		Senior Vice President and Chief Financial Officer


ING INVESTMENT MANAGEMENT LLC, as Administrative Agent

By:		/s/ Christopher P. Lyons
Name:		Christopher P. Lyons
Title:



By:		/s/ Gregory R. Addicks
Name:		Gregory R. Addicks
Title:		Vice President


RELIASTAR LIFE INSURANCE COMPANY ING LIFE INSURANCE AND ANNUITY COMPANY By: ING Investment Management LLC, as Agent

By:		/s/ Christopher P. Lyons
Name:		Christopher P. Lyons
Title:		Senior Vice President



By:		/s/ Gregory R. Addicks
Name:		Gregory R. Addicks
Title:		Vice President


METROPOLITAN LIFE INSURANCE COMPANY

By:		/s/ Judith A. Gulotta
Name:		Judith A. Gulotta
Title:		Director

TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA

By:		/s/ Roi G. Chandy
Name:		Roi G. Chandy
Title:		Director

[Signature Page to Credit Agreement]

ANNEX A

[Intentionally Omitted]

Annex A-1

ANNEX B

ADDRESSES FOR NOTICES

PROQUEST COMPANY

777 Eisenhower Parkway

P. O. Box 1346

Ann Arbor, MI 48106-1346

Attention: Patrick M. Randall, Treasurer

Telephone: (734) ###-###-####

Facsimile: (734) ###-###-####

ING INVESTMENT MANAGEMENT LLC, as Administrative Agent

Per the address designated in writing by ING Investment Management LLC from time to time

LENDERS

Per the address set forth in such Lender’s administrative questionnaire

Annex B-1

EXHIBIT A

[FORM OF NOTE]

$[ ]

[Date]

The undersigned, for value received, promises to pay to the order of [ ] (the “Lender”), at the principal office of ING Investment Management LLC (the “Administrative Agent”) designated by the Administrative Agent from time to time, the aggregate unpaid amount of all Loans made to the undersigned by the Lender pursuant to the Credit Agreement referred to below (as shown on the schedule attached hereto (and any continuation thereof) or in the records of the Lender), such principal amount to be payable on the dates set forth in the Credit Agreement.

The undersigned further promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such Loan is paid in full, payable at the rate(s) and at the time(s) set forth in the Credit Agreement. Payments of both principal and interest are to be made in lawful money of the United States of America.

This Note evidences indebtedness incurred under, and is subject to the terms and provisions of, the Credit Agreement, dated as of May 2, 2006 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”; terms not otherwise defined herein are used herein as defined in the Credit Agreement), among the undersigned, certain financial institutions (including the Lender) and the Administrative Agent, to which Credit Agreement reference is hereby made for a statement of the terms and provisions under which this Note may or must be paid prior to its due date or its due date accelerated.

This Note is made under and governed by the laws of the State of New York applicable to contracts made and to be performed entirely within such State.

PROQUEST COMPANY

By:

Name:

Title:

Exhibit A-1

EXHIBIT B

[FORM OF COMPLIANCE CERTIFICATE]

To: ING Investment Management LLC, as Administrative Agent

Please refer to the Credit Agreement dated as of May 2, 2006 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) among ProQuest Company (the “Company”), various financial institutions and ING Investment Management LLC, as Administrative Agent. Terms used but not otherwise defined herein are used herein as defined in the Credit Agreement.

I. Reports. Enclosed herewith is a copy of the [annual audited/quarterly] report of the Company as at , (the “Computation Date”), which report fairly presents in all material respects the financial condition and results of operations [(subject to the absence of footnotes and to normal year-end adjustments)] of the Company as of the Computation Date and has been prepared in accordance with GAAP consistently applied.

II. [Insert financial calculations from Waiver and Omnibus Amendment Agreement]

The Company further certifies to you that no Event of Default or Unmatured Event of Default has occurred and is continuing.

The Company has caused this Certificate to be executed and delivered by its duly authorized officer on , .

PROQUEST COMPANY

By:

Name:

Title:

Exhibit B-1

EXHIBIT C

[FORM OF ASSIGNMENT AGREEMENT]

This Assignment Agreement (this “Assignment Agreement”) between [ ] (the “Assignor”) and [ ] (the “Assignee”) is dated as of , 200 . The parties hereto agree as follows:

1. PRELIMINARY STATEMENT. The Assignor is a party to a Credit Agreement (which, as it may be amended, modified, renewed or extended from time to time is herein called the “Credit Agreement”) described in Item 1 of Schedule 1 attached hereto (“Schedule 1”). Capitalized terms used herein and not otherwise defined herein shall have the meanings attributed to them in the Credit Agreement.

2. ASSIGNMENT AND ASSUMPTION. The Assignor hereby sells and assigns to the Assignee, and the Assignee hereby purchases and assumes from the Assignor, an interest in and to the Assignor’s rights and obligations under the Credit Agreement and the other Loan Documents, such that after giving effect to such assignment the Assignee shall have purchased pursuant to this Assignment Agreement the interests specified in Item 3 of Schedule 1 hereto.

3. EFFECTIVE DATE. The effective date of this Assignment Agreement (the “Effective Date”) shall be the date specified in Item 4 of Schedule 1.

4. PAYMENT OBLIGATIONS. In consideration for the sale and assignment hereunder, the Assignee shall pay the Assignor, on the Effective Date, the amount agreed to by the Assignor and the Assignee in accordance with Schedule 1 hereto. On and after the Effective Date, the Assignee shall be entitled to receive from the Administrative Agent all payments of principal, interest, fees and any other amounts with respect to the interest assigned hereby. The Assignee will promptly remit to the Assignor any interest on Loans and fees received from the Administrative Agent which relate to the portion of the Commitments or Obligations assigned to the Assignee hereunder for periods prior to the Effective Date and not previously paid by the Assignee to the Assignor. In the event that either party hereto receives any payment to which the other party hereto is entitled under this Assignment Agreement, then the party receiving such amount shall promptly remit it to the other party hereto.

5. PROCESSING FEE. The Assignor and Assignee agree to pay the processing fee under Section 15.6.1 required to be paid to the Administrative Agent in connection with this Assignment Agreement unless otherwise agreed by the Administrative Agent on Schedule 1 hereto.

6. REPRESENTATIONS OF THE ASSIGNOR, LIMITATIONS ON THE ASSIGNOR’S LIABILITY. The Assignor represents and warrants that (i) it is the legal and beneficial owner of the interests being assigned by it hereunder, (ii) such interest is free and clear of any adverse claim created by the Assignor and (iii) the execution and delivery of this Assignment Agreement by the Assignor is duly authorized. It is understood and agreed that the assignment and assumption hereunder are made without recourse to the Assignor and that the

Exhibit C-1

Assignor makes no other representation or warranty of any kind to the Assignee. Neither the Assignor nor any of its officers, directors, employees, agents or attorneys shall be responsible for (i) the due execution, legality, validity, enforceability, genuineness, sufficiency or collectability of any Loan Document, including without limitation, documents granting the Assignor and the other Lenders a security interest in assets of the Company or any guarantor, (ii) any representation, warranty or statement made in or in connection with any of the Loan Documents, (iii) the financial condition or creditworthiness of the Company or any guarantor, (iv) the performance of or compliance with any of the terms or provisions of any of the Loan Documents, (v) inspecting any of the property, books or records of the Company, (vi) the validity, enforceability, perfection, priority, condition, value or sufficiency of any collateral securing or purporting to secure the Obligations or (vii) any mistake, error of judgment, or action taken or omitted to be taken in connection with the Obligations or the Loan Documents.

7. REPRESENTATIONS AND UNDERTAKINGS OF THE ASSIGNEE. The Assignee confirms that it has received a copy of the Credit Agreement and all other Loan Documents requested by it, together with copies of the financial statements requested by the Assignee and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment Agreement, (ii) agrees that it will, independently and without reliance upon the Administrative Agent, the Assignor or any other Lender and based on such documents and information at it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, (iii) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers under the Loan Documents as are delegated to the Administrative Agent by the terms thereof, together with such powers as are reasonably incidental thereto, (iv) confirms that the execution and delivery of this Assignment Agreement by the Assignee is duly authorized, (v) agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender, (vi) agrees that its payment instructions have been supplied to the Administrative Agent and its notice instructions are as set forth in the attachment to Schedule 1, (vii) confirms that none of the funds, monies, assets or other consideration being used to make the purchase and assumption hereunder are “plan assets” as defined under ERISA and that its rights, benefits and interests in and under the Loan Documents will not be “plan assets” under ERISA, (viii) agrees to indemnify and hold the Assignor harmless against all losses, costs and expenses (including, without limitation, reasonable attorneys’ fees) and liabilities incurred by the Assignor in connection with or arising in any manner from the Assignee’s nonperformance of the obligations assumed under this Assignment Agreement, and (ix) if applicable, attaches the forms required under Section 7.6(d) of the Credit Agreement and prescribed by the Internal Revenue Service of the United States certifying that the Assignee is entitled to receive payments under the Loan Documents without deduction or withholding of any United States federal income taxes.

8. GOVERNING LAW. This Assignment Agreement shall be governed by the internal law, and not the law of conflicts, of the State of New York.

9. NOTICES. Notices shall be given under this Assignment Agreement in the manner set forth in the Credit Agreement. For the purpose hereof, the address of the Assignee (until notice of a change is delivered) for all notices shall be the address set forth in the attachment to Schedule 1.

Exhibit C-2

10. COUNTERPARTS; DELIVERY BY FACSIMILE. This Assignment Agreement may be executed in counterparts. Transmission by facsimile of an executed counterpart of this Assignment Agreement shall be deemed to constitute due and sufficient delivery of such counterpart and such facsimile shall be deemed to be an original counterpart of this Assignment Agreement.

IN WITNESS WHEREOF, the duly authorized officers of the parties hereto have executed this Assignment Agreement by executing Schedule I hereto as of the date first above written.

Exhibit C-3

Schedule 1 to Assignment Agreement

1. Description and Date of Credit Agreement: CREDIT AGREEMENT dated as of May 2, 2006 (the “Credit Agreement”) among PROQUEST COMPANY (the “Company”), the financial institutions that are or may from time to time become parties thereto (together with their respective successors and assigns, the “Lenders”), and ING INVESTMENT MANAGEMENT LLC. (in its individual capacity, “ING”), as administrative agent for the Lenders.

2. Date of Assignment Agreement: , 200

3. The amounts of the Assignee’s (a) Commitment purchased under this Assignment Agreement, and (b) Pro Rata Share of the Revolving Commitment after giving effect to this Assignment Agreement are as follows:


Assignee	Commitment Amount	Pro Rata Share

4. Proposed Effective Date:

5. Address of Assignee:

Attention:

Telephone: ( )

Facsimile: ( )

Accepted and Agreed:


[NAME OF ASSIGNOR]						[NAME OF ASSIGNEE]



By:						By:


Name:						Name:
Title:						Title:

Exhibit C-4

ACCEPTED AND CONSENTED TO BY:


[PROQUEST COMPANY] [If required]



By:


Name:
Title:

ACCEPTED AND CONSENTED TO BY

ING INVESTMENT MANAGEMENT LLC,

as Administrative Agent



By:


Name:
Title:

Exhibit C-5

EXHIBIT D

[FORM OF NOTICE OF BORROWING]

To: ING Investment Management LLC, as Administrative Agent

The undersigned hereby gives irrevocable notice, pursuant to Section 2.2.2 of the Credit Agreement, of a request hereby for a borrowing as follows:

(i) The requested borrowing date for the proposed borrowing (which is a Business Day) is , .

(ii) The aggregate amount of the proposed borrowing is $ .

(iii) The type of Revolving Loans comprising the proposed borrowing are [Base Rate] [LIBOR] Loans.

(iv) The duration of the Interest Period for each LIBOR Loan made as part of the proposed borrowing, if applicable, is one month.

The undersigned hereby certifies that on the date hereof and on the date of borrowing set forth above, and immediately after giving effect to the borrowing requested hereby: (i) there exists and there shall exist no Unmatured Event of Default or Event of Default under the Credit Agreement; (ii) each of the representations and warranties contained in the Credit Agreement and the other Loan Documents is true and correct as of the date hereof, except to the extent that such representation or warranty expressly relates to another date and except for changes therein expressly permitted or expressly contemplated by the Credit Agreement; and (iii) attached hereto as Exhibit A is a true and complete copy of the irrevocable Notice of Borrowing which is being delivered to the Existing Bank Administrative Agent concurrently herewith.

The Company has caused this Notice of Borrowing to be executed and delivered by its officer thereunto duly authorized on , .


PROQUEST COMPANY



By:


Name:
Title:

Exhibit D-1

EXHIBIT E

[FORM OF NOTICE OF CONVERSION/CONTINUATION]

To: ING Investment Management LLC, as Administrative Agent

The undersigned hereby gives irrevocable notice, pursuant to Section 2.2.3 of the Credit Agreement, of its request to:

(a) on [ date ] convert $[ ]of the aggregate outstanding principal amount of the [ ] Loan, bearing interest at the [ ] Rate, into a(n) [ ] Loan [and, in the case of a LIBOR Loan, having an Interest Period of [ ] month(s)];

[(b) on [ date ] continue $[ ]of the aggregate outstanding principal amount of the [ ] Loan, bearing interest at the LIBOR Rate, as a LIBOR Loan having an Interest Period of one month].

The undersigned hereby represents and warrants that (i) all of the conditions contained in Section 12.2 of the Credit Agreement have been satisfied on and as of the date hereof, and will continue to be satisfied on and as of the date of the conversion/continuation requested hereby, before and after giving effect thereto; and (ii) attached hereto as Exhibit A is a true and complete copy of the irrevocable Notice of Conversion/Continuation which is being delivered to the Existing Bank Administrative Agent concurrently herewith.

The Company has caused this Notice of Conversion/Continuation to be executed and delivered by its officer thereunto duly authorized on , .


PROQUEST COMPANY



By:


Name:
Title:

Exhibit E-1

Jones Day draft of 5/2/06

SCHEDULE 9.6

LITIGATION AND CONTINGENT LIABILITIES

Litigation:

None.

Other Contingent Liabilities:

Potential deferrals of revenue of Voyager Expanded Learning, L.P., if any, related to (1) services provided or to be provided over the course of the 2005-2006 school year, pursuant to the terms of each underlying contract, in conjunction with the sale of programs, and (2) the obligation to provide on-line access to curricula and database and management reports, pursuant to the terms of each underlying contract, during the period the customers are implementing programs.

SCHEDULE 9.8

EQUITY OWNERSHIP; LOAN PARTY CAPITALIZATION


LOAN PARTY		AUTHORIZED, ISSUED AND OUTSTANDING STOCK
ProQuest Company		50,000,000 shares authorized, 29,866,000 of which were outstanding as of April 20, 2006

ProQuest Business Solutions Inc.		1,000 shares owned by ProQuest Company (100% ownership)

ProQuest Information Access, Ltd.		900 shares owned by ProQuest Company (100% ownership)

ProQuest Japan Company		200 shares owned by ProQuest Business Solutions Inc. (100% ownership)

ProQuest UK Holdings, Ltd.		660 shares owned by ProQuest Company (100% ownership)

ProQuest Information and Learning Company		2,000 shares owned by ProQuest Company (100% ownership)

ProQuest Learning I, LLC		Voyager Holding Corporation is sole member

ProQuest Learning II, LLC		Voyager Holding Corporation is sole member

Voyager Holding Corporation		100 shares owned by ProQuest Information and Learning Company

Voyager Expanded Learning, L.P.		ProQuest Learning I, LLC holds a 1% interest as general partner and ProQuest Learning II, LLC holds a 99% interest as limited partner

ProQuest Information and Learning, Ltd.		125,909,694 shares owned by ProQuest UK Holdings, Ltd. (100% ownership)

Softline Information, Inc. (dormant)		100 shares owned by ProQuest Information and Learning, Inc. (100% ownership)

Chadwyck-Healy, España SA		100 shares owned by ProQuest Information and Learning, Ltd. (100% ownership)

ProQuest Alison, Inc.		1,000 shares owned by ProQuest Company (100% ownership)

ProQuest Content Operations, Inc.		1,000 shares owned by ProQuest Company (100% ownership)

ProQuest Outdoor Solutions Inc.		1,000 shares owned by ProQuest Company (100% ownership)

ProQuest IPI, Ltd. (dormant)		ProQuest UK Holdings, Ltd. is the sole shareholder

Norman Ross Publishing Inc. (dormant)		10 shares owned by ProQuest Information and Learning Company (100% ownership)

SIRS Publishing, Inc. (dormant)		ProQuest Information and Learning Company is the sole shareholder

Copley Publishing Group, Inc. (dormant)		400,000 shares owned by ProQuest Information and Learning Company (100% ownership)


LOAN PARTY		AUTHORIZED, ISSUED AND OUTSTANDING STOCK
LearningPage.com, Inc. (dormant)		500 shares owned by ProQuest Information and Learning Company (100% ownership)

Serials Solutions, Inc. (dormant)		100 shares owned by ProQuest Information and Learning Company (100% ownership)

Bigchalk, Inc. (dormant)		ProQuest Information and Learning Company is the sole shareholder

Homeworkcentral.com, Inc.		Bigchalk, Inc. is the sole shareholder

Mediaseek Technologies, Inc.		Bigchalk, Inc. is the sole shareholder

Syncata Corporation		100 shares owned by ProQuest Business Solutions Inc. (100% ownership)

Syncata India		Syncata Corporation is the sole shareholder

Technet Services, Inc.		Syncata India is the sole shareholder

ProQuest Business Solutions, Ltd.		ProQuest UK Holdings, Ltd. is the sole shareholder

ProQuest Brazil Ltda		ProQuest Company owns a 1% interest and ProQuest Information and Learning Company owns a 99% interest

ProQuest Business Solutions GmbH		ProQuest Business Solutions, Ltd. is the sole shareholder

ProQuest Business Solutions SRL		ProQuest Business Solutions, Ltd. is the sole shareholder

ProQuest Business Solutions SARL		ProQuest Business Solutions, Ltd. is the sole shareholder

ProQuest Business Solutions SA		ProQuest Business Solutions, Ltd. is the sole shareholder

SCHEDULE 9.16

INSURANCE


INSURED PARTIES	INSURANCE COMPANY NAME	TYPE OF PLAN	POLICY NO.	DATE OF POLICY
ProQuest Company and its Subsidiaries	Zurich	Global Property	ERP348089005	4/1/2006 to 4/1/2007

ProQuest Company and its Subsidiaries	AIG	Domestic Commercial Liability	GL3597968	6/15/2005 to 6/15/2006

ProQuest Company and its Subsidiaries	AIG	Domestic Business Automobile	CA3595316	6/15/2005 to 6/15/2006

ProQuest Company and its Subsidiaries	AIG	Texas Automobile	CA3595318TX	6/15/2005 to 6/15/2006

ProQuest Company and its Subsidiaries	AIG	Domestic Workers’ Compensation	WC3592378	6/15/2005 to 6/15/2006

ProQuest Company and its Subsidiaries	AIG	International Liability (general liability, automobile liability and employers’ liability)	BINDER115555UK	6/15/2005 to 6/15/2006

ProQuest Company and its Subsidiaries	Federal Insurance Companies	Worldwide Umbrella Liability	79808650	6/15/2005 to 6/15/2006

ProQuest Company and its Subsidiaries	AXIS Specialties Insurance	Software Errors & Omissions Liability	ECN620828	4/1/2006 to 4/1/2007

ProQuest Company and its Subsidiaries	Federal Insurance Companies	Directors and Officers Coverage	81713332	5/2/2005 to 5/2/2006

ProQuest Company and its Subsidiaries	Illinois National Insurance	Excess Directors and Officers Coverage	004915631	5/2/2005 to 5/2/2006

ProQuest Company and its Subsidiaries	XL Specialty Insurance Co.	Excess Directors and Officers Coverage	ELU08874805	5/2/2005 to 5/2/2006

ProQuest Company and its Subsidiaries	Illinois National Insurance	Fiduciary Liability Coverage	004915364	5/2/2005 to 5/2/2006

ProQuest Company and its Subsidiaries	Illinois National Insurance	Employment Practices Coverage	004915364	5/2/2005 to 5/2/2006

ProQuest Company and its Subsidiaries	National Union Fire Insurance Co. of Pittsburgh	Crime Coverage	4144249	5/2/2005 to 5/2/2006

SCHEDULE 9.17

REAL PROPERTY

ProQuest Company

Owned Real Property:

None.

Leased Real Property:

789 Eisenhower Parkway, Ann Arbor, Michigan 48106

777 Eisenhower Parkway, Ann Arbor, Michigan 48106

ProQuest Information and Learning Company

Owned Real Property:

None.

Leased Real Property:

300 North Zeeb Road, Ann Arbor, Michigan 48103

1400 Eisenhower Place, Ann Arbor, Michigan - Office Lease dated April 2, 2001 with Eisenhower Commerce Center Associates No. 4 LLC

3891 Ranchero Drive, Suite 100, Valley Ranch Business Park, Ann Arbor, Michigan - Office Lease dated July 15, 2001 with Valley Ranch Business Park No. 2 LLC

7185 3-L Drive, Building 2, Ann Arbor, Michigan 48106

620 South Third Street, Louisville, Kentucky - Office Lease dated July 1, 1989 with The Wilson Partnership

4355 D International Boulevard, Norcross, Georgia - Office Lease dated April 27, 1998 with Duke-Weeks Realty Limited Partnership

20 Summer Street, Stamford, Connecticut - Office Lease dated March 1, 1999 with 20 Summer Street Associates

500 North Marketplace Drive, Centerville, Utah - Office Lease dated January 18, 2005 with Dayton West, LLC

1630 East River Road, Suite 121, Tucson, Arizona - Office Lease dated December 2, 2003 with MAV

444 NE Ravenna Boulevard, Suite 211, Seattle, Washington - Office Lease dated January 20, 2003 with 444 Ravenna LLC

138 Great Road, Acton, Massachusetts 01720 - Office Lease dated January 1, 2004 with Lindsey Realty Trust

5201 Congress Ave., Suite 250, Boca Raton, Florida 33487

400 East main Street, Suite 5, Charlottesville, Virginia 22902

1800 Valley View Lane, Suite 400, Dallas, Texas 75234

5252 North Edgewood Drive, Suite 125, Provo, Utah 84604

20 Victoria Street, Toronto, Ontario, Canada M5C 2N8

ProQuest Business Solutions Inc.

Owned Real Property:

1909 Old Mansfield Road, Wooster, Ohio

Leased Real Property:

3900 Kinross Lakes Parkway, Richfield, Ohio - Office Lease dated July 1, 1998 with Kinross Lakes Venture LLC

400 SW 7^th Street, Suite 100, Stuart, Florida - Office Lease dated May 1, 2002 with Royal Palm Financial Center Partnership

17200 Ten Mile Road, Suite 230, Eastpointe, Michigan - Office Lease dated August 1, 1998

5184 Wiley Post Way, Salt Lake City, Utah 84116

4199 Campus Drive, Suite 550, Office 31, Irvine, California 92612

3800 Kilroy Airport Way, Suite 350, Long Beach, California 90806

Gruner Weg 10, 61169, Freidberg, Germany - Office Lease with Pitney Bowes Document Messaging Technologies

Sagasta, 20 bajo dcha. 28004, Madrid, Spain - Office Lease dated April 1, 2000

54 Route de Sartouville, Pare St. Laurent, LePecq Cedex, France - Office Lease dated June 15, 1998

Aspen House, 300 King’s Road, Reading, Berkshire, UK - Office Lease dated October 10, 2003 with Abbey National PLC

2^nd & 3^rdFloor Technip Tower, A-4 Sector 1, NOIDA - 201 301, India

14-3; Nagata Cho, 2-Chome, Suite 10-E, Akasaka Tokyo Building, Chiyoda-Ku, Tokyo, Japan 100-0014

Castello 95-6 D, Madrid, Spain 28006

Strada del Fortino, 24 C, Tornio, Italy

Voyager Expanded Learning, L.P.

Owned Real Property:

None.

Leased Real Property:

1800 Valley View Lane, Suite 400, Dallas, Texas 75234

ProQuest Information and Learning, Ltd.

Owned Real Property:

None.

Leased Real Property:

The Quorum, Barnwell Road, Cambridge, UK

SCHEDULE 9.21

LABOR MATTERS

None.