INTERPOOL INC
EX-10.47
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>8
<FILENAME>interpool-ex1047_030906.htm
<DESCRIPTION>EX-10.47
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 10.47</TITLE>
</HEAD>
<BODY>

<P ALIGN=RIGHT><FONT SIZE=3>Published CUSIP Number: <B>210738AA8</B> </FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>REVOLVING CREDIT AGREEMENT</B></FONT></P>

<P ALIGN=CENTER><FONT SIZE=3>Dated as of April 28, 2005</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3>by and among</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>CONTAINER APPLICATIONS INTERNATIONAL, INC.</B><BR>
(the &#147;Borrower&#148;)</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>THE LENDERS LISTED ON <U>SCHEDULE</U> <U>1</U> HERETO </B></FONT></P>

<P ALIGN=CENTER><FONT SIZE=3>and</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>BANK OF AMERICA, N.A.</B><BR>
as administrative agent (the &#147;Administrative Agent&#148;)</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3>with</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>BANC OF AMERICA SECURITIES LLC</B>,<BR>
acting as lead arranger and book manager (the &#147;Arranger&#148;)</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3>and</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>LASALLE BANK NATIONAL ASSOCIATION</B><BR>
as Syndication Agent (the &#147;Syndication Agent&#148;)</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3>and</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>UNION BANK OF CALIFORNIA, N.A.</B><BR>
as co-agent (the &#147;Co-Agent&#148;) </FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B><U>TABLE OF CONTENTS</U></B></FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=95%>1. <U>DEFINITIONS AND RULES OF INTERPRETATION</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>1</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>1.1. <U>Definitions</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>1</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%><U>Rules of Interpretation</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>27</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=95%>2. <U>THE REVOLVING CREDIT FACILITY</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>28</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>2.1. <U>Commitment to Lend</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>28</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>2.2. <U>Commitment Fee</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>28</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>2.3. <U>Reduction of Total Commitment</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>29</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>2.4. <U>Evidence of Debt</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>29</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>2.5. <U>Interest on Revolving Credit Loans and Swing Line Loans</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>30</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>2.6. <U>Requests for Revolving Credit Loans</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>30</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>2.7. <U>Conversion Options</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>31</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>2.7.1. <U>Conversion to Different Type of Revolving Credit Loan</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>31</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>2.7.2. <U>Continuation of Type of Revolving Credit Loan</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>31</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>2.7.3. <U>Eurodollar Rate Loans</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>32</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>2.8. <U>Funds for Revolving Credit Loans</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>32</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>2.8.1. <U>Funding Procedures</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>32</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>2.8.2. <U>Advances by Administrative Agent</U>. (a)</TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>32</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>2.8.3. <U>Obligations of Lenders Several</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>33</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>2.9. <U>Change in Borrowing Base</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>33</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>2.10. <U>Swing Line Loans</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>34</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>2.10.1. <U>The Swing Line</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>34</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>2.10.2. <U>Borrowing Procedure</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>34</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>2.10.3. <U>Refinancing of Swing Line Loans</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>35</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>2.10.4. <U>Repayment of Participations</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>36</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>2.10.5. <U>Interest for Account of Swing Line Lender</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>36</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>2.10.6. <U>Payments Directly to Swing Line Lender</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>37</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=95%>3. <U>REPAYMENT OF THE REVOLVING CREDIT LOANS</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>37</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>3.1. <U>Maturity</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>37</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>3.2. <U>Mandatory Repayments of Revolving Credit Loans</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>37</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>3.3. <U>Optional Repayments of Revolving Credit Loans and Swing Line Loans</U>. (a)</TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>37</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=95%>4. <U>LETTERS OF CREDIT</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>38</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>4.1. <U>Letter of Credit Commitments</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>38</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>4.1.1. <U>Commitment to Issue Letters of Credit</U>. (a)</TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>38</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>4.1.2. <U>Procedures for the Issuance and Amendment of Letters of Credit</U>. (a)</TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>40</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>4.1.3. <U>Applicability of the ISP and Uniform Customs</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>41</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>4.1.4. <U>Reimbursement Obligations of Lenders</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>41</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>4.1.5. <U>Participations of Lenders</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>41</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>4.1.6. <U>Auto-Extension Letters of Credit</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>41</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>4.2. <U>Reimbursement Obligation of the Borrower</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>42</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>4.3. <U>Letter of Credit Payments</U>. (a)</TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>43</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>4.4. <U>Obligations Absolute</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>44</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>4.5. <U>Role of Issuer</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>45</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>4.6. <U>Letter of Credit Fees</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>46</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>4.7. <U>Cash Collateral</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>46</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>4.8. <U>Conflict with Issuer Documents</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>47</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=95%>5. <U>CERTAIN GENERAL PROVISIONS</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>47</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>5.1. <U>Fees</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>47</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>5.2. <U>Funds for Payments</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>47</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>5.2.1. <U>Payments to Administrative Agent</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>47</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>5.2.2. <U>No Offset, etc</U>.</TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>47</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>5.2.3. <U>Non-U.S. Lenders</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>48</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>5.3. <U>Computations</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>49</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>5.4. <U>Inability to Determine Eurodollar Rate</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>49</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>5.5. <U>Illegality</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>49</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>5.6. <U>Additional Costs, etc</U>.</TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>50</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>5.7. <U>Capital Adequacy</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>51</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>5.8. <U>Certificate</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>52</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>5.9. <U>Indemnity</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>52</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>5.10. <U>Interest After Default</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>52</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>5.10.1. <U>Overdue Amounts</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>52</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>5.10.2. <U>Amounts Not Overdue</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>53</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=95%>6. <U>COLLATERAL SECURITY AND GUARANTIES</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>53</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>6.1. <U>Security of Borrower</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>53</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>6.2. <U>Guaranties of Subsidiaries</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>53</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>6.3. <U>Release of Collateral</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>53</TD>
</TR>
</TABLE>
<BR>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=95%>7. <U>REPRESENTATIONS AND WARRANTIES</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>53</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.1. <U>Corporate Authority</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>53</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>7.1.1. <U>Incorporation; Good Standing</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>53</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>7.1.2. <U>Authorization</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>54</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>7.1.3. <U>Enforceability</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>54</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.2. <U>Governmental or Third Party Approvals</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>54</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.3. <U>Title to Properties; Leases</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>54</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.4. <U>Financial Statements and Projections</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>54</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>7.4.1. <U>Fiscal Year</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>54</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>7.4.2. <U>Financial Statements</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>55</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>7.4.3. <U>Projections</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>55</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.5. <U>No Material Adverse Changes, etc.</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>55</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.6. <U>Franchises, Patents, Copyrights, etc</U>.</TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>55</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.7. <U>Litigation</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>55</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.8. <U>No Materially Adverse Contracts, etc</U>.</TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>56</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.9. <U>Compliance with Other Instruments, Laws, etc</U>.</TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>56</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.10. <U>Tax Status</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>56</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.11. <U>No Event of Default</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>56</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.12. <U>Holding Company and Investment Company Acts</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>56</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.13. <U>Absence of Financing Statements, etc.</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>56</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.14. <U>Perfection of Security Interest</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>57</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.15. <U>Certain Transactions</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>57</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.16. <U>Employee Benefit Plans</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>57</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>7.16.1. <U>In General</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>57</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>7.16.2. <U>Terminability of Welfare Plans</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>57</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>7.16.3. <U>Guaranteed Pension Plans</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>57</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>7.16.4. <U>Multiemployer Plans</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>58</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.17. <U>Use of Proceeds</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>58</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>7.17.1. <U>General</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>58</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>7.17.2. <U>Regulations U and X</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>58</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.18. <U>Environmental Compliance</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>59</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.19. <U>Subsidiaries, etc</U>.</TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>60</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.20. <U>Bank Accounts</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>60</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.21. <U>Disclosure</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>60</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.22. <U>Status of Obligations as Senior Debt</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>61</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.23. <U>Solvency</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>61</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.24. <U>Insurance</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>61</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>7.25. <U>Foreign Assets Control Regulations, Etc</U>.</TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>61</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=95%>8. <U>AFFIRMATIVE COVENANTS</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>61</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>8.1. <U>Punctual Payment</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>62</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>8.2. <U>Maintenance of Office</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>62</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>8.3. <U>Records and Accounts</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>62</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>8.4.  <U>Financial Statements, Certificates and Information</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>63</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>8.5. <U>Notices</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>66</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>8.5.1. <U>Defaults</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>66</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>8.5.2. <U>Environmental Events</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>66</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>8.5.3. <U>Notification of Claim against Collateral</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>66</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>8.5.4. <U>Notice of Litigation and Judgments</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>66</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>8.5.5. <U>Notice of ERISA Event</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>67</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>8.5.6. <U>Notice of Change in Accounting or Financial Reporting Practices</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>67</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>8.6. <U>Legal Existence; Maintenance of Properties</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>67</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>8.7. <U>Insurance</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>67</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>8.8. <U>Taxes</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>67</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>8.9. <U>Inspection of Properties and Books, etc.</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>68</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>8.9.1. <U>General</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>68</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>8.9.2. <U>Collateral Reports</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>68</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>8.9.3. <U>Appraisals</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>68</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>8.9.4. <U>Environmental Assessments</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>69</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>8.9.5. <U>Communications with Accountants</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>69</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>8.10. <U>Compliance with Laws, Contracts, Licenses, and Permits</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>69</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>8.11. <U>Employee Benefit Plans</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>70</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>8.12. <U>Use of Proceeds</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>70</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>8.13. <U>Bank Accounts</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>70</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>8.14. <U>Additional Mortgaged Property</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>70</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>8.15. <U>Interests in Intellectual Property</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>71</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>8.16. <U>New Guarantors</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>71</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>8.17. <U>Collateral Security of Guarantors</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>72</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>8.18. <U>Further Assurances</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>72</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=95%>9. <U>CERTAIN NEGATIVE COVENANTS</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>72</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>9.1. <U>Restrictions on Indebtedness</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>72</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>9.2. <U>Restrictions on Liens</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>74</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>9.2.1.  <U>Permitted Liens</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>74</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>9.2.2 <U>Restrictions on Negative Pledges and Upstream Limitations</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>75</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>9.3. <U>Restrictions on Investments</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>76</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>9.4. <U>Restricted Payments</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>76</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>9.5. <U>Merger, Acquisitions and Consolidation; Disposition of Assets</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>77</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>9.5.1. <U>Mergers and Acquisitions</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>77</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>9.5.2. <U>Disposition of Assets</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>77</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>9.6. <U>Sale and Leaseback</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>77</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>9.7. <U>Compliance with Environmental Laws</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>77</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>9.8. <U>Subordinated Debt; Master Lease Agreements</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>78</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>9.9. <U>Employee Benefit Plans</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>79</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>9.10. <U>Business Activities</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>79</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>9.11. <U>Fiscal Year</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>79</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>9.12. <U>Transactions with Affiliates</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>79</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>9.13. <U>Bank Accounts</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>80</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>9.14. <U>Capital Stock</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>80</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>9.15. <U>Creation of Subsidiaries</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>80</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=95%>10. <U>FINANCIAL COVENANTS</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>80</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>10.1. <U>Total Leverage Ratio</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>80</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>10.2. <U>Fixed Charge Coverage Ratio</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>81</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>10.3. <U>Interest Coverage</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>81</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>10.4. <U>Senior Funded Debt to Consolidated Adjusted Tangible Net Worth</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>81</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=95%>11. <U>CLOSING CONDITIONS</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>81</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>11.1. <U>Loan Documents etc.</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>81</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>11.1.1. <U>Loan Documents</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>81</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>11.1.2. <U>Subordination Documents; Master Lease Agreements</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>81</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>11.2. <U>Certified Copies of Governing Documents</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>82</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>11.3. <U>Corporate or Other Action</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>82</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>11.4. <U>Incumbency Certificate</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>82</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>11.5. <U>Validity of Liens</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>83</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>11.6. <U>Asset List; Perfection Certificates and UCC Search Results</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>83</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>11.7. <U>Certificates of Insurance</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>83</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>11.8. <U>Borrowing Base Report</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>83</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>11.9. <U>Financial Condition</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>83</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>11.10. <U>Opinion of Counsel</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>83</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>11.11. <U>Payment of Fees</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>84</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>11.12. <U>Payoff Letter</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>84</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>11.13. <U>Commercial Finance Exam, etc</U>.</TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>84</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=95%>12. <U>CONDITIONS TO ALL BORROWINGS</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>84</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>12.1. <U>Representations True; No Event of Default</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>84</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>12.2. <U>No Legal Impediment</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>85</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>12.3. <U>Governmental Regulation</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>85</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>12.4. <U>Proceedings and Documents</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>85</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>12.5. <U>Borrowing Base Report</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>85</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=95%>13. <U>EVENTS OF DEFAULT; ACCELERATION; ETC</U>.</TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>85</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>13.1. <U>Events of Default and Acceleration</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>85</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>13.2. <U>Termination of Commitments</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>89</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>13.3. <U>Remedies</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>89</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>13.4. <U>Distribution of Collateral Proceeds</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>90</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=95%>14. <U>THE ADMINISTRATIVE AGENT</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>91</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>14.1. <U>Authorization</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>91</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>14.2. <U>Employees and Administrative Agents</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>92</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>14.3. <U>No Liability</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>92</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>14.4. <U>No Representations</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>93</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>14.4.1. <U>General</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>93</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>14.4.2. <U>Non-Reliance on Administrative Agent and Other Lenders</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>94</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>14.5. <U>Payments</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>94</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>14.5.1.  <U>Payments to Administrative Agent</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>94</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>14.5.2. <U>Distribution by Administrative Agent</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>94</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>14.5.3. <U>Delinquent Lenders</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>95</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>14.5.4. <U>Replacement of Lender</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>95</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>14.6. <U>Holders of Revolving Credit Notes</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>96</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>14.7. <U>Indemnity</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>96</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>14.8. <U>Administrative Agent as Lender, etc.</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>97</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>14.9. <U>Resignation</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>97</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>14.10. <U>Notification of Defaults and Events of Default</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>98</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>14.11. <U>Duties in the Case of Enforcement</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>98</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>14.12. <U>Administrative Agent May File Proofs of Claim</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>99</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>14.13. <U>Collateral and Guaranty Matters</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>99</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=95%>15. <U>ASSIGNMENT AND PARTICIPATION</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>100</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>15.1. <U>Conditions to Assignment</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>100</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>15.1.1. <U>Successors and Assignment Generally</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>100</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>15.1.2. <U>Assignments by Lenders</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>100</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>15.1.3. <U>Register</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>102</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>15.1.4. <U>Participations</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>102</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>15.1.5. <U>Certain Pledges</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>103</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>15.1.6. <U>Electronic Execution of Assignments</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>103</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>15.1.7. <U>Resignation as L/C Issuer and Swing Line Lender after Assignment</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>103</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=95%>16. <U>PROVISIONS OF GENERAL APPLICATIONS</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>104</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>16.1. <U>Setoff</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>104</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>16.2. <U>Expenses</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>105</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>16.3. <U>Indemnification</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>105</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>16.4. <U>Treatment of Certain Confidential Information</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>107</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>16.4.1. <U>Confidentiality</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>107</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>16.5. <U>Survival of Covenants, Etc.</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>108</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>16.6. <U>Notices</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>108</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>16.6.1. <U>Notices Generally</U>. E</TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>108</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>16.6.2. <U>Electronic Communications</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>109</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>16.6.3. <U>The Platform</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>109</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>16.6.4. <U>Changes of Address</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>110</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=85%>16.6.5. <U>Reliance by Administrative Agent and the Lenders</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>110</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>16.7. <U>Governing Law</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>111</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>16.8. <U>Headings</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>111</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>16.9. <U>Counterparts</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>111</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>16.10. <U>Entire Agreement, Etc</U>.</TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>111</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>16.11. <U>Waiver of Jury Trial</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>111</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>16.12. <U>Consents, Amendments, Waivers, Etc</U>.</TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>112</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>16.13. <U>Severability</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>114</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=90%>16.14. <U>USA PATRIOT Act Notice</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>114</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=95%>17. <U>ACKNOWLEDGEMENT</U></TD>
<TD WIDTH=5% ALIGN=RIGHT VALIGN=BOTTOM>114</TD>
</TR>
</TABLE>
<BR>

<P ALIGN=CENTER><FONT SIZE=3><U>Exhibits</U></FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Exhibit</U> <U>A</U></TD>
<TD WIDTH=80%>Form of Borrowing Base Report</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Exhibit</U> <U>B</U></TD>
<TD WIDTH=80%>Form of Revolving Credit Note</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Exhibit</U> <U>C</U></TD>
<TD WIDTH=80%>Form of Loan Request</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Exhibit</U> <U>D</U></TD>
<TD WIDTH=80%>Form of Compliance Certificate</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Exhibit</U> <U>E</U></TD>
<TD WIDTH=80%>Assignment and Assumption</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Exhibit</U> <U>F</U></TD>
<TD WIDTH=80%>Swing Line Loan Notice</TD>
</TR>
</TABLE>
<BR>

<P ALIGN=CENTER><FONT SIZE=3><U>Schedules</U></FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Schedule</U> <U>1</U></TD>
<TD WIDTH=80%>Lenders and Commitments</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Schedule</U> <U>1.1</U></TD>
<TD WIDTH=80%>Existing Letters of Credit</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Schedule</U> <U>7.3</U></TD>
<TD WIDTH=80%>Title to Properties; Leases</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Schedule</U> <U>7.7</U></TD>
<TD WIDTH=80%>Litigation</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Schedule</U> <U>7.15</U></TD>
<TD WIDTH=80%>Certain Transactions</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Schedule</U> <U>7.18</U></TD>
<TD WIDTH=80%>Environmental Compliance</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Schedule</U> <U>7.19(a)</U></TD>
<TD WIDTH=80%>Subsidiaries</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Schedule</U> <U>7.19(b)</U></TD>
<TD WIDTH=80%>Joint Ventures</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Schedule</U> <U>7.20</U></TD>
<TD WIDTH=80%>Bank Accounts</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Schedule</U> <U>7.24</U></TD>
<TD WIDTH=80%>Insurance</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Schedule</U> <U>9.1</U></TD>
<TD WIDTH=80%>Existing Indebtedness</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Schedule</U> <U>9.2</U></TD>
<TD WIDTH=80%>Existing Liens</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Schedule</U> <U>9.3</U></TD>
<TD WIDTH=80%>Existing Investments</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Schedule</U> <U>15.1.2</U></TD>
<TD WIDTH=80%>Processing and Recordation Fees</TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><U>Schedule</U> <U>16.6.1</U></TD>
<TD WIDTH=80%>Certain Addresses for Notices</TD>
</TR>
</TABLE>
<BR>

<P ALIGN=CENTER><FONT SIZE=3><B>REVOLVING CREDIT AGREEMENT</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This <B>REVOLVING CREDIT AGREEMENT</B> is made as of April 28, 2005, by and
among <B>CONTAINER APPLICATIONS INTERNATIONAL, INC. </B>(the
&#147;<U>Borrower</U>&#148;), a Nevada corporation having its principal place of
business at 550 Kearny Street, San Francisco, California 94108, the lending
institutions from time to time listed on <U>Schedule</U>&nbsp;<U>1</U> hereto
(the &#147;<U>Lenders</U>&#148;), <B>BANK OF AMERICA, N.A.,</B> as
administrative agent for itself and the other Lenders (in such capacity, the
&#147;<U>Administrative Agent</U>&#148;),<B> LASALLE BANK NATIONAL
ASSOCIATION</B> as syndication agent for itself and the other Lenders (in such
capacity, the &#147;<U>Syndication Agent</U>&#148;), and <B>UNION BANK OF
CALIFORNIA, N.A.</B>, as co-agent for itself and the other Lenders (in such
capacity, the &#147;<U>Co-Agent</U>&#148;), with <B>BANC OF AMERICA SECURITIES
LLC </B>acting as lead arranger and book manager. </FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>1.&nbsp;&nbsp;<U>DEFINITIONS AND RULES OF INTERPRETATION</U>.</B></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent" FSL="Default" -->
<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>1.1.&nbsp;&nbsp;<U>Definitions</U>.</B>&nbsp;&nbsp;The following terms shall
have the meanings set forth in this &sect;1 or elsewhere in the provisions of
this Credit Agreement referred to below: </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Accounts Receivable</U>. All rights of the Borrower or any of its
Subsidiaries to payment for goods sold, leased or otherwise marketed in the
ordinary course of business and all rights of the Borrower or any of its
Subsidiaries to payment for services rendered in the ordinary course of business
and all sums of money or other proceeds due thereon pursuant to transactions
with account debtors, except for that portion of the sum of money or other
proceeds due thereon that relate to sales, use or property taxes in conjunction
with such transactions, recorded on books of account in accordance with GAAP.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Adjustment Date</U>. The first day of the month immediately following the
month in which a Compliance Certificate is to be delivered by the Borrower
pursuant to &sect;8.4(d). </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Administrative Agent&#146;s Office</U>. The Administrative Agent&#146;s
office located at 100 Federal Street, Boston, Massachusetts 02110, or at such
other location as the Administrative Agent may designate from time to time.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Administrative Agent</U>. Bank of America, N.A., acting as administrative
agent for the Lenders, and each other Person appointed as the successor
Administrative Agent in accordance with &sect;14.9. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Administrative Agent&#146;s Special Counsel</U>. Bingham McCutchen LLP or
such other counsel as may be approved by the Administrative Agent. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Administrative Questionnaire</U>. An Administrative Questionnaire in a form
supplied by the Administrative Agent. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Affiliate</U>. With respect to any Person, another Person that directly, or
indirectly through one or more intermediaries, Controls or is Controlled by or
is under common Control with the Person specified. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Agent Parties</U>. See &sect;16.6.3. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Applicable Margin</U>. For each period commencing on an Adjustment Date
through the date immediately preceding the next Adjustment Date (each a
&#147;<U>Rate Adjustment Period</U>&#148;), the Applicable Margin shall be the
applicable margin set forth below with respect to the Total Leverage Ratio, as
determined for the Reference Period of the Borrower and its Subsidiaries ending
on the fiscal quarter ended immediately prior to the applicable Rate Adjustment
Period. </FONT></P>

<TABLE WIDTH=100% CELLPADDING=2 CELLSPACING=0 BORDER=1>
<TR VALIGN=BOTTOM>
<TD>Level</TD>
<TD>Total<BR>
Leverage<BR>
Ratio</TD>
<TD>Base<BR>
Rate<BR>
Loans</TD>
<TD>Eurodollar<BR>
Rate Loans</TD>
<TD>Letter of<BR>
Credit<BR>
Fees</TD>
<TD>Commitment<BR>
Fee</TD>
</TR>
<TR VALIGN=TOP>
<TD>I</TD>
<TD>Greater than or<BR>
equal to 3.00:1.00</TD>
<TD>0.50%</TD>
<TD>2.25%</TD>
<TD>2.25%</TD>
<TD>0.450%</TD>
</TR>
<TR VALIGN=TOP>
<TD>II</TD>
<TD>Less than<BR>
3.00:1.00 but<BR>
greater than or<BR>
equal to 2.50:1.00</TD>
<TD>0.25%</TD>
<TD>2.00%</TD>
<TD>2.00%</TD>
<TD>0.400%</TD>
</TR>
<TR VALIGN=TOP>
<TD>III</TD>
<TD>Less than<BR>
2.50:1.00 but<BR>
greater than or<BR>
equal to 2.00:1.00</TD>
<TD>0.00%</TD>
<TD>1.75%</TD>
<TD>1.75%</TD>
<TD>0.350%</TD>
</TR>
<TR VALIGN=TOP>
<TD>IV</TD>
<TD>Less than 2.00:1.00</TD>
<TD>0.00%</TD>
<TD>1.50%</TD>
<TD>1.50%</TD>
<TD>0.300%</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notwithstanding the foregoing, (a) for the Revolving Credit Loans outstanding
and the Letter of Credit Fees and the Commitment Fee payable during the period
commencing on the Closing Date through the date immediately preceding the first
Adjustment Date to occur after the second fiscal quarter following the Closing
Date,<I> </I>the Applicable Margin shall be no lower than the Applicable Margin
set forth in Level III above, and (b) if the Borrower fails to deliver any
Compliance Certificate pursuant to &sect;8.4(d) hereof, then for the period
commencing on the next Adjustment Date to occur subsequent to such failure
through the date immediately following the date on which such Compliance
Certificate is delivered, the Applicable Margin shall be the highest Applicable
Margin set forth above. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Applicable Pension Legislation</U>. At any time, any pension or retirement
benefits legislation (be it national, federal, provincial, territorial or
otherwise) then applicable to the Borrower or any of its Subsidiaries.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Approved Fund</U>. Any Fund that is administered or managed by (a) a Lender,
(b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that
administers or manages a Lender. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Arranger</U>. Banc of America Securities LLC, in its capacity as lead
arranger and book manager. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Assignee Group</U>. Two or more Eligible Assignees that are Affiliates of one
another or two or more Approved Funds managed by the same investment advisor.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Assignment and Assumption</U>. An assignment and assumption entered into by a
Lender and an Eligible Assignee (with the consent of any party whose consent is
required by &sect;15.1.1, and accepted by the Administrative Agent, in
substantially the form of <U>Exhibit E</U> or any other form approved by the
Administrative Agent. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Auto-Extension Letter of Credit</U>. See &sect;4.1.6. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Balance Sheet Date</U>. December 31, 2004. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Bank of America</U>. Bank of America, N.A., in its individual capacity.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Base Rate</U>. For any day a fluctuating rate per annum equal to the higher
of (a) the Federal Funds Rate plus 1/2 of 1% and (b) the rate of interest in
effect for such day as publicly announced from time to time by Bank of America
as its &#147;prime rate&#148;. The &#147;prime rate&#148; is a rate set by Bank
of America based upon various factors including Bank of America&#146;s costs and
desired return, general economic conditions and other factors, and is used as a
reference point for pricing some loans, which may be priced at, above, or below
such announced rate. Any change in such rate announced by Bank of America shall
take effect at the opening of business on the day specified in the public
announcement of such change. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Base Rate Loans</U>. Revolving Credit Loans bearing interest calculated by
reference to the Base Rate. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Borrower</U>. As defined in the preamble hereto. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Borrowing Base</U>. At the relevant time of reference thereto, an amount
determined by the Administrative Agent by reference to the most recent Borrowing
Base Report delivered to the Lenders pursuant to &sect;8.4(f)<I> </I>which is
equal to the sum of: </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80.00% of the Net Book Value of
Eligible Containers; <U>plus</U>
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75.00% of Eligible Container
Receivables, <U>provided</U> that the amount included in the Borrowing Base
pursuant to this clause (b) shall not exceed $20,000,000; <U>plus</U>
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85.00% of the Net Present Value of
Direct Finance Lease Receivables (other than Direct Finance Lease Receivables
arising from Eligible Containers which are included in clause (a) of this
definition); plus
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100.00% of the amount of Borrowing
Base Cash Collateral.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Borrowing Base Cash Collateral</U>. As of any date of determination, all cash
sums on deposit with the Administrative Agent in Account #9429168958 and pledged
to secure the Obligations pursuant to the Cash Collateral Pledge Agreement.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Borrowing Base Report</U>. A Borrowing Base Report signed by the chief
financial officer of the Borrower and in substantially the form of
<U>Exhibit</U>&nbsp;<U>A</U> hereto. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Business Day</U>. Any day on which banking institutions in Boston,
Massachusetts and San Francisco, California, are open for the transaction of
banking business and, in the case of Eurodollar Rate Loans, also a day which is
a Eurodollar Business Day. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Capital Assets</U>. Fixed assets, both tangible (such as land, buildings,
fixtures, machinery and equipment) and intangible (such as patents, copyrights,
trademarks, franchises and good will); <U>provided</U> that Capital Assets shall
not include any item customarily charged directly to expense or depreciated over
a useful life of twelve (12) months or less in accordance with GAAP. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Capital Expenditures</U>. Amounts paid or Indebtedness incurred by the
Borrower or any of its Subsidiaries in connection with (i) the purchase or lease
by the Borrower or any of its Subsidiaries of Capital Assets that would be
required to be capitalized and shown on the balance sheet of such Person in
accordance with GAAP or (ii) the lease of any assets by the Borrower or any of
its Subsidiaries as lessee under any Synthetic Lease to the extent that such
assets would have been Capital Assets had the Synthetic Lease been treated for
accounting purposes as a Capitalized Lease. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Capitalized Leases</U>. Leases under which the Borrower or any of its
Subsidiaries is the lessee or obligor, the discounted future rental payment
obligations under which are required to be capitalized on the balance sheet of
the lessee or obligor in accordance with GAAP. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Capital Stock</U>. Any and all shares, interests, participations or other
equivalents (however designated) of capital stock of a corporation, any and all
equivalent ownership interests in a Person (other than a corporation) and any
and all warrants, rights or options to purchase any of the foregoing.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Cash Collateral</U>. See &sect;4.7. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Cash</U> <U>Collateral</U> <U>Pledge</U> <U>Agreement</U>. That certain
Borrowing Base Cash Collateral Pledge Agreement, dated as of the Closing Date,
between the Borrower and the Administrative Agent, in form and substance
satisfactory to the Lenders and the Administrative Agent. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>CERCLA</U>. See &sect;7.18(a). </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Change of Control</U>.<I> </I>Any of (i) Interpool and its wholly-owned
subsidiaries and Mr. Hiromitsu Ogawa, members of his immediate family and trusts
for the benefit of the same shall, at any time, cease to own, collectively, at
least sixty-six and two-thirds percent (66<SUP>2/3</SUP>%) of the issued and
outstanding Voting Stock of the Borrower of every class (on a fully-diluted
basis), or (ii) Interpool and its wholly-owned subsidiaries shall, at any time,
cease to own at least thirty-three and one-third percent (33<SUP>1/3</SUP>%) of
the issued and outstanding Voting Stock of the Borrower of every class (on a
fully-diluted basis), or (iii) Mr. Hiromitsu Ogawa, members of his immediate
family and trusts for the benefit of the same shall, at any time, cease to own
at least thirty-three and one-third percent (33<SUP>1/3</SUP>%) of the issued
and outstanding Voting Stock of the Borrower of every class (on a fully-diluted
basis), or (iv) Mr. Hiromitsu Ogawa shall cease to be actively engaged as the
chief executive officer of the Borrower and a new chief executive officer of the
Borrower reasonably acceptable to the Required Lenders shall not have been
appointed within sixty (60) days after such cessation; <U>provided</U>,
<U>however</U>, that the Required Lenders hereby agree in advance that Masaaki
Nishibori and Fred Bauthier shall each be deemed to be reasonably acceptable to
serve as chief executive officer of Borrower in the event that Hiromitsu Ogawa
ceases to be actively engaged as chief executive officer. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Closing Date</U>. The first date all the conditions precedent in &sect;11 are
satisfied or waived and any Revolving Credit Loans are to be made or any Letters
of Credit are to be issued hereunder. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Closing Interpool Repayment</U>. The repayment of the Interpool Subordinated
Debt on the Closing Date in an amount not to exceed $15,200,000. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Co-Agent</U>. See Introductory Paragraph. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Code</U>. The Internal Revenue Code of 1986. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Collateral</U>. All of the property, rights and interests of the Borrower and
each of the Guarantors that are or are intended to be subject to the Liens
created by the Security Documents. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Commitment</U>. With respect to each Lender, the amount set forth on
<U>Schedule</U>&nbsp;<U>1</U> hereto as the amount of such Lender&#146;s
commitment to make Revolving Credit Loans to, to participate in the issuance,
extension and renewal of Letters of Credit for the account of, and to purchase
participations in Swing Line Loans made to, the Borrower, as the same may be
increased pursuant to &sect;15.9 or reduced from time to time; or if such
commitment is terminated pursuant to the provisions hereof, zero. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Commitment Fee</U>. See &sect;2.2. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Commitment Percentage</U>. With respect to each Lender, the percentage set forth on
<U>Schedule</U> <U>1</U> hereto as such Lender's percentage of the aggregate
Commitments of all of the Lenders. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Compliance Certificate</U>. See &sect;8.4(d). </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Consolidated or consolidated</U>. With reference to any term defined herein,
shall mean that term as applied to the accounts of the Borrower and its
Subsidiaries, consolidated in accordance with GAAP. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Consolidated Adjusted Tangible Net Worth</U>. At any time, the Consolidated
Tangible Net Worth of the Borrower and its Subsidiaries at such time,
<U>plus</U> the outstanding amount of Subordinated Debt of the Borrower and its
Subsidiaries at such time. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Consolidated EBITDA</U>. With respect to any fiscal period, an amount equal
to the sum of (a) Consolidated Net Income (or Deficit) of the Borrower and its
Subsidiaries for such fiscal period, <U>plus</U> (b) in each case to the extent
deducted in the calculation of such Person&#146;s Consolidated Net Income and
without duplication, (i) depreciation and amortization for such period,
<U>plus</U> (ii) income tax expense for such period, <U>plus</U> (iii)
Consolidated Total Interest Expense paid or accrued during such period,
<U>plus</U> (iv) other noncash charges for such period, <U>plus</U> (v) principal payments
received by the Borrower or any of its Subsidiaries during such period with respect to
Direct Finance Leases, all as determined in accordance with GAAP. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Consolidated EBITDAR</U>. With respect to any fiscal period of the Borrower
and its Subsidiaries, an amount equal to the sum of (a) Consolidated EBITDA for
such fiscal period <U>plus</U> (b) consolidated rental expense for such fiscal
period as determined in accordance with GAAP. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Consolidated Funded Debt</U>. At any time of determination, with respect to
the Borrower and its Subsidiaries, the sum, without duplication, of (a) the
aggregate amount of Indebtedness (including Subordinated Debt) of the Borrower
and its Subsidiaries, on a consolidated basis, relating to (i) the borrowing of
money or the obtaining of credit, including the issuance of notes or bonds, (ii)
the deferred purchase price of assets (other than trade payables incurred in the
ordinary course of business), (iii) Capitalized Leases, (iv) Rental Obligations,
and (v) the maximum drawing amount of all letters of credit outstanding
<U>plus</U> (b) Indebtedness of the type referred to in clause (a) of another
Person guaranteed by the Borrower or any of its Subsidiaries<I>.</I>
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Consolidated Net Income (or Deficit)</U>. The consolidated net income (or
deficit) of the Borrower and its Subsidiaries, after deduction of all expenses,
taxes, and other proper charges, determined in accordance with GAAP, after
eliminating therefrom all extraordinary items of income or loss.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Consolidated Operating Cash Flow</U>. With respect to any fiscal period of
the Borrower and its Subsidiaries, an amount equal to (i) Consolidated EBITDAR
for such fiscal period <U>minus</U> (ii) cash income tax expense for such
period, as determined in accordance with GAAP. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Consolidated Tangible Net Worth</U>. The excess of Consolidated Total Assets
over Consolidated Total Liabilities (excluding Rental Obligations), and less the
sum of: </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the total book value of all assets
of the Borrower and its Subsidiaries properly classified as intangible assets
under GAAP, including such items as good will, the purchase price of acquired
assets in excess of the fair market value thereof (for purposes of this
definition, the purchase price of new Containers acquired in arm&#146;s length
purchases from third parties shall be deemed to equal the fair market value
thereof), trademarks, trade names, service marks, brand names, copyrights,
patents and licenses, and rights with respect to the foregoing; <U>plus</U>
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; all amounts representing any
write-up in the book value of any assets of the Borrower or its Subsidiaries
resulting from a revaluation thereof subsequent to the Balance Sheet
Date<I>,</I> excluding adjustments to translate foreign assets and liabilities
for changes in foreign exchange rates made in accordance with Financial
Accounting Standards Board Statement No. 52; <U>plus</U>
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to the extent otherwise includable
in the computation of Consolidated Tangible Net Worth, any subscriptions
receivable.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Consolidated Total Assets</U>. All assets of the Borrower and its
Subsidiaries determined on a consolidated basis in accordance with GAAP.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Consolidated Total Debt Service</U>. With respect to the Borrower and its
Subsidiaries and for any Reference Period, the sum, without duplication, of (a)
any and all repayments or prepayments of principal (excluding the Closing
Interpool Repayment) during such period in respect of Indebtedness that becomes
due and payable or that are to become due and payable during such period
pursuant to any agreement or instrument to which the Borrower or any of its
Subsidiaries is a party relating to (i) the borrowing of money or the obtaining
of credit, including the issuance of notes or bonds, (ii) the deferred purchase
price of assets (other than trade payables incurred in the ordinary course of
business), (iii) in respect of any Synthetic Leases or any Capitalized Leases,
(iv) in respect of any reimbursement obligations in respect of letters of credit
due and payable during such period, and (v) Indebtedness of the type referred to
above of another Person guaranteed by the Borrower or any of its Subsidiaries,
<U>plus</U> (b) Consolidated Total Interest Expense paid or payable in cash
during such Reference Period, <U>plus</U> (c) one tenth (1/10) of the average
daily outstanding amount of the Revolving Credit Loans during such Reference
Period, <U>plus</U> (d) consolidated rental expense for such period as
determined in accordance with GAAP. Demand obligations shall be deemed to be due
and payable during any fiscal period during which such obligations are
outstanding. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Consolidated Total Interest Expense</U>. For any period, the aggregate amount
of interest required to be paid or accrued by the Borrower and its Subsidiaries
during such period on all Indebtedness of the Borrower and its Subsidiaries
outstanding during all or any part of such period, whether such interest was or
is required to be reflected as an item of expense or capitalized, including
payments consisting of interest in respect of any Capitalized Lease or any
Synthetic Lease, and including commitment fees, agency fees, facility fees,
balance deficiency fees and similar fees or expenses in connection with the
borrowing of money. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Consolidated Total Liabilities</U>. All liabilities of the Borrower and its
Subsidiaries determined on a consolidated basis in accordance with GAAP and
classified as such on the consolidated balance sheet of the Borrower and its
Subsidiaries and all other Indebtedness of the Borrower and its Subsidiaries
(including Subordinated Debt), whether or not so classified.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Containers</U>. The marine and intermodal cargo containers either owned or
leased by the Borrower and employed by the Borrower in the conduct of its
business, including, without limitation, refrigerated, dry van, tank, open top
and flat rack containers and refrigeration units and generator sets associated
therewith, <U>but excluding</U> any chassis for such containers. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Control</U>. The possession, directly or indirectly, of the power to direct
or cause the direction of the management or policies of a Person, whether
through the ability to exercise voting power, by contract or otherwise.
&#147;<U>Controlling</U>&#148; and &#147;<U>Controlled</U>&#148; have meanings
correlative thereto. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Conversion Request</U>. A notice given by the Borrower to the Administrative
Agent of the Borrower&#146;s election to convert or continue a Loan in
accordance with &sect;2.7. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Credit Agreement</U> or <U>Agreement</U>. This Revolving Credit Agreement,
including the Schedules and Exhibits hereto as the same may be amended,
restated, supplemented or otherwise modified and in effect from time to time.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Default</U>.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; See &sect;13.1.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Delinquent Lender</U>. See &sect;14.5.3. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Direct Finance Lease Receivables</U>. All rights of the Borrower to payment
in respect of Direct Finance Leases that are not in default and all sums of
money or other proceeds due the Borrower pursuant to such Direct Finance Leases,
except for that portion of the sum of money or other proceeds due thereon that
relate to sales, use or property taxes in conjunction with such transactions,
recorded on the Borrower&#146;s books of account in accordance with generally
accepted accounting principles. The Administrative Agent shall hold a valid and
perfected first priority security interest in any Direct Finance Lease
Receivables included in the Borrowing Base. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Direct Finance Lease Rate</U>. With respect to any Direct Finance Lease, the
interest rate applicable to such Direct Finance Lease. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Direct Finance Leases</U>. Leases pursuant to which the Borrower leases
Containers to a lessee and (a) the terms of such lease provide that title to
such Containers will pass to such lessee at the end of the lease term
automatically or at the option of the lessee for no additional consideration or
for consideration so nominal that the lessee would be economically compelled to
exercise such option and (b) the interest component of the proceeds of such
lease are booked on the Borrower&#146;s financial statements as &#147;Income
from Direct Finance Leases.&#148; </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Distribution</U>. (a) The declaration or payment of any dividend on or in
respect of any shares of any class of Capital Stock of the Borrower, other than
dividends payable solely in shares of common stock of the Borrower; (b) the
purchase, redemption, defeasance, retirement or other acquisition of any shares
of any class of Capital Stock of the Borrower, directly or indirectly through a
Subsidiary of the Borrower or otherwise (including the setting apart of assets
for a sinking or other analogous fund to be used for such purpose); (c) the
return of capital by the Borrower to its shareholders as such; or (d) any other
distribution on or in respect of any shares of any class of Capital Stock of the
Borrower.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Dollars</U> or <U>$</U>. Dollars in lawful currency of the United States of
America. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Domestic Lending Office</U>. Initially, the office of each Lender designated
as such in <U>Schedule</U>&nbsp;<U>1</U> hereto; thereafter, such other office
of such Lender, if any, located within the United States that will be making or
maintaining Base Rate Loans. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Drawdown Date</U>. The date on which any Revolving Credit Loan or Swing Line
Loan is made or is to be made, and the date on which any Revolving Credit Loan
is converted or continued in accordance with &sect;2.7. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Eligible Assignee</U>. (a) A Lender; (b) an Affiliate of a Lender; (c) an
Approved Fund; and (d) any other Person (other than a natural person) approved
by (i) the Administrative Agent, the L/C Issuer and the Swing Line Lender, and
(ii) unless an Event of Default has occurred and is continuing, the Borrower
(each such approval not to be unreasonably withheld or delayed); <U>provided</U>
that notwithstanding the foregoing, &#147;Eligible Assignee&#148; shall not
include the Borrower or any of the Borrower&#146;s Affiliates or Subsidiaries or
any competitor of the Borrower <U>(provided</U>, <U>however</U>, that no
financial institution or Approved Fund shall be deemed to be a competitor of the
Borrower). </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Eligible Containers</U>. Containers owned by the Borrower which (a) are
subject to a first priority fully perfected security interest in favor of the
Administrative Agent for the benefit of the Lenders in all jurisdictions within
the United States of America where filing financing statements in accordance
with the Uniform Commercial Code is necessary to perfect the Lenders&#146;
security interest in such Containers, (b) are subject to no other Liens except
Permitted Liens that (i) secure Subordinated Debt and are fully subordinated to
the Lenders&#146; security interest in such Containers pursuant to the terms of
the Subordination and Intercreditor Agreement or (ii) are permitted pursuant to
&sect;&sect;9.2.1(v) and (xi), (c) are in a serviceable condition in the normal
course of business, (d) have a Net Book Value greater than zero, (e) have not
suffered an Event of Loss and (f) are not the subject of a finance or trade
credit arrangement between the Borrower as obligor and a third party obligee but
are owned by the Borrower outright. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Eligible Container Receivables</U>. The aggregate of the unpaid portions of
Accounts Receivable generated in connection with sales by the Borrower of
Containers permitted by &sect;9.5.2 (net of any credits, rebates, offsets,
holdbacks or other adjustments or commissions payable to third parties that are
adjustments to such Accounts Receivable): (a) that the Borrower reasonably and
in good faith determines to be collectible; (b) that are with account debtors or
other obligors that (i) are not Affiliates of the Borrower, unless such
Affiliate is Interpool, (ii) purchased the Containers giving rise to the
relevant Account Receivable in an arm&#146;s length transaction, (iii) are not
insolvent or involved in any case or proceeding, whether voluntary or
involuntary, under any bankruptcy, reorganization, arrangement, insolvency,
adjustment of debt, dissolution, liquidation or similar law of any jurisdiction
and (iv) are, in the Administrative Agent&#146;s reasonable judgment,
creditworthy; (c) that are in payment of obligations that have been fully
performed, do not consist of progress billings or bill and hold invoices and are
not subject to dispute or any other similar claims that would reduce the cash
amount payable therefor; (d) that are not subject to any pledge, restriction,
security interest or other lien or encumbrance other than Permitted Liens; (e)
in which the Administrative Agent has a valid and perfected first priority
security interest; (f) that are not outstanding for more than sixty (60) days
past the earlier to occur of (i) the due date listed on the respective original
invoices therefor and (ii) the date of shipment thereof; (g) that are not due
from any single account debtor or other obligor if more than fifteen percent
(15%) of the aggregate amount of all Accounts Receivable owing from such account
debtor or other obligor would otherwise not be Eligible Container Receivables;
(h) that are payable in Dollars (or such other currency as the Administrative
Agent may agree in its sole discretion); (i) that are not secured by a letter of
credit unless the Administrative Agent has a prior security interest in such
letter of credit perfected by control; (j) that are in payment of obligations
under agreements that contain terms requiring the relevant account debtor to
return the Container to the Borrower in the event that such Account Receivable
is not fully paid when due; and (k) are generated in connection with sales of
Containers owned by the Borrower outright that are not the subject of a finance
or trade credit arrangement between the Borrower as obligor and a third party
obligee. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Employee Benefit Plan</U>. Any employee benefit plan within the meaning of
&sect;3(3) of ERISA maintained or contributed to by the Borrower or any ERISA
Affiliate (other than Interpool), other than a Guaranteed Pension Plan or a
Multiemployer Plan. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Environmental Laws</U>. See &sect;7.18(a). </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>EPA</U>. See &sect;7.18(b). </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>ERISA</U>. The Employee Retirement Income Security Act of 1974, as amended.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>ERISA Affiliate</U>. Any Person which is treated as a single employer with
the Borrower under &sect;414 of the Code. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>ERISA Event</U>. (a) An ERISA Reportable Event with respect to a Guaranteed
Pension Plan; (b) a withdrawal by the Borrower or any ERISA Affiliate from a
Guaranteed Pension Plan subject to Section 4063 of ERISA during a plan year in
which it was a substantial employer (as defined in Section&nbsp;4001(a)(2) of
ERISA) or a cessation of operations that is treated as such a withdrawal under
Section 4062(e) of ERISA; (c) a complete or partial withdrawal by the Borrower
or any ERISA Affiliate from a Multiemployer Plan or notification that a
Multiemployer Plan is in reorganization; (d) the filing of a notice of intent to
terminate, the treatment of an Employee Benefit Plan amendment as a termination
under Sections 4041 or 4041A of ERISA, or the commencement of proceedings by the
PBGC to terminate a Guaranteed Pension Plan or Multiemployer Plan; (e) an event
or condition which constitutes grounds under Section 4042 of ERISA for the
termination of, or the appointment of a trustee to administer, any Guaranteed
Pension Plan or Multiemployer Plan; or (f) the imposition of any liability under
Title IV of ERISA, other than for PBGC premiums due but not delinquent under
Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>ERISA Reportable Event</U>. A reportable event with respect to a Guaranteed
Pension Plan within the meaning of &sect;4043 of ERISA and the regulations
promulgated thereunder as to which the requirement of notice has not been
waived. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Eurodollar Base Rate</U>. See definition of Eurodollar Rate. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Eurodollar Business Day</U>. Any day on which commercial banks are open for
international business (including dealings in Dollar deposits) in London or such
other eurodollar interbank market as may be selected by the Administrative Agent
in its sole discretion acting in good faith. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Eurodollar Lending Office</U>. Initially, the office of each Lender
designated as such in <U>Schedule</U>&nbsp;<U>1</U> hereto; thereafter, such
other office of such Lender, if any, that shall be making or maintaining
Eurodollar Rate Loans. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Eurodollar Rate</U>. For any Interest Period with respect to a Eurodollar
Rate Loan, a rate per annum determined by the Administrative Agent pursuant to
the following formula: </FONT></P>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 ALIGN=CENTER>
<TR>
<TD>Eurodollar Rate =</TD>
<TD WIDTH=3%>&nbsp;</TD>
<TD ALIGN=CENTER>
Eurodollar Base Rate
<HR SIZE=1 NOSHADE>
1.00 - Eurodollar Reserve Percentage
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Where, </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Eurodollar Base Rate</U>. For such Interest Period, the rate per annum equal
to the British Bankers Association LIBOR Rate (&#147;<U>BBA LIBOR</U>&#148;), as
published by Reuters (or other commercially available source providing
quotations of BBA LIBOR as designated by the Administrative Agent from time to
time) at approximately 11:00 a.m., London time, two Business Days prior to the
commencement of such Interest Period, for Dollar deposits (for delivery on the
first day of such Interest Period) with a term equivalent to such Interest
Period. If such rate is not available at such time for any reason, then the
&#147;Eurodollar Base Rate&#148; for such Interest Period shall be the rate per
annum determined by the Administrative Agent to be the rate at which deposits in
Dollars for delivery on the first day of such Interest Period in same day funds
in the approximate amount of the Eurodollar Rate Loan being made, continued or
converted by Bank of America and with a term equivalent to such Interest Period
would be offered by Bank of America&#146;s London Branch to major banks in the
London interbank eurodollar market at their request at approximately 11:00 a.m.
(London time) two Business Days prior to the commencement of such Interest
Period. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Eurodollar Reserve Percentage</U>. For any day during any Interest Period,
the reserve percentage (expressed as a decimal, carried out to five decimal
places) in effect on such day, whether or not applicable to any Lender, under
regulations issued from time to time by the FRB for determining the maximum
reserve requirement (including any emergency, supplemental or other marginal
reserve requirement) with respect to Eurocurrency funding (currently referred to
as &#147;eurocurrency liabilities&#148;). The Eurodollar Rate for each
outstanding Eurodollar Rate Loan shall be adjusted automatically as of the
effective date of any change in the Eurodollar Reserve Percentage. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Eurodollar Rate Loans</U>. Revolving Credit Loans bearing interest calculated
by reference to the Eurodollar Rate. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Event of Default</U>. See &sect;13.1. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Event of Loss</U>. With respect to any Container, the occurrence of any of
the following events: </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=5%>(a) </TD>
<TD WIDTH=90%>
total loss or destruction thereof;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=5%>(b) </TD>
<TD WIDTH=90%>
theft or disappearance thereof without recovery within sixty (60) days after
such theft or disappearance becomes known to the Borrower;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=5%>(c) </TD>
<TD WIDTH=90%>
damage rendering such Container unfit for normal use and, in the judgment of the
Borrower, beyond repair at reasonable cost; and
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=5%>(d) </TD>
<TD WIDTH=90%>
any condemnation, seizure, forced sale or other taking of title to or use of any
such Container.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Excess Availability</U>. At any time of determination, (a) the lesser of (i)
the Total Commitment at such time or (ii) the Borrowing Base at such time,
<U>minus</U> (b) the sum of (i) the outstanding amount of the Revolving Credit
Loans at such time, <U>plus</U> (ii) the Maximum Drawing Amount and all Unpaid
Reimbursement Obligations at such time, <U>plus</U> (iii) the outstanding amount
of Swing Line Loans at such time. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Existing Credit Agreement</U>. The Fifth Amended and Restated Revolving
Credit Agreement, dated as of June 27, 2002 by and among the Borrower, the
lenders party thereto and Fleet National Bank, as administrative agent for the
lenders. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Existing Letters of Credit</U>. Those letters of credit issued for the
account of the Borrower under the Existing Credit Agreement and set forth on
<U>Schedule 1.1</U> hereto. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Federal Funds Rate</U>. For any day, the rate per annum equal to the weighted
average of the rates on overnight Federal funds transactions with members of the
Federal Reserve System arranged by Federal funds brokers on such day, as
published by the Federal Reserve Bank of New York on the Business Day next
succeeding such day; <U>provided</U> that (a) if such day is not a Business Day,
the Federal Funds Rate for such day shall be such rate on such transactions on
the next preceding Business Day as so published on the next succeeding Business
Day, and (b) if no such rate is so published on such next succeeding Business
Day, the Federal Funds Rate for such day shall be the average rate (rounded
upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of
America on such day on such transactions as determined by the Administrative
Agent. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Fee Letter</U>. The fee letter, dated as of March 17, 2005, among the
Borrower, the Administrative Agent and the Arranger, as the same may be amended,
restated, supplemented or otherwise modified and in effect from time to time.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Financial Affiliate</U>. A Subsidiary of the bank holding company controlling
any Lender, which Subsidiary is engaging in any of the activities permitted by
&sect;4(e) of the Bank Holding Company Act of 1956 (12 U.S.C. &sect;1843).
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Fund</U>. Any Person (other than a natural person) that is (or will be)
engaged in making, purchasing, holding or otherwise investing in commercial
loans and similar extensions of credit in the ordinary course of its business.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>GAAP or generally accepted accounting principles</U>. (a) When used in
&sect;10, whether directly or indirectly through reference to a capitalized term
used therein, means (i) principles that are consistent with the principles
promulgated or adopted by the Financial Accounting Standards Board and its
predecessors, in effect for the fiscal year ended on the Balance Sheet Date, and
(ii) to the extent consistent with such principles, the accounting practice of
the Borrower reflected in its financial statements for the year ended on the
Balance Sheet Date, and (b) when used in general, other than as provided above,
means principles that are (i) consistent with the principles promulgated or
adopted by the Financial Accounting Standards Board and its predecessors, as in
effect from time to time, and (ii) consistently applied with past financial
statements of the Borrower adopting the same principles, provided that in each
case referred to in this definition of &#147;<U>GAAP</U>&#148; a certified
public accountant would, insofar as the use of such accounting principles is
pertinent, be in a position to deliver an unqualified opinion (other than a
qualification regarding changes in GAAP) as to financial statements in which
such principles have been properly applied. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Governing Documents</U>. With respect to any Person, its certificate or
articles of incorporation, its by-laws and all shareholder agreements, voting
trusts and similar arrangements applicable to any of its Capital Stock.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Governmental Authority</U>. Any foreign, federal, state, regional, local,
municipal or other government, or any department, commission, board, bureau,
agency, public authority or instrumentality thereof, or any court or arbitrator.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Guaranteed Pension Plan</U>. Any employee pension benefit plan within the
meaning of &sect;3(2) of ERISA maintained or contributed to by the Borrower or
any ERISA Affiliate the benefits of which are guaranteed on termination in full
or in part by the PBGC pursuant to Title IV of ERISA, other than a Multiemployer
Plan. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Guarantors</U>. Collectively, each of (a) Container Applications
International (U.K.) Limited, a United Kingdom corporation, (b) Container
Applications (Malaysia) SDN BHD, a Malaysian corporation, (c) Container
Applications International Corporation, a Japanese corporation, (d) Sky
Container Trading Limited, a limited company formed under the laws of England
and Wales, (e) Sky Domestic Container Leasing Limited, a limited company formed
under the laws of England and Wales and (f) each Subsidiary of the Borrower
which is required to become a Guarantor pursuant to &sect;8.15 hereof. Each
Guarantor shall be a party to the Guaranty. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Guaranty</U>. The Guaranty, dated or to be dated as of the Closing Date, made
by each Guarantor in favor of the Lenders and the Administrative Agent pursuant
to which such Guarantor guarantees to the Lenders and the Administrative Agent
the payment and performance of the Obligations. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Hazardous Substances</U>. See &sect;7.18(b). </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Honor Date. &sect;4.2. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Indemnitee</U>. See &sect;16.3. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Identified Containers</U>. See definition of "Nonrecourse Loan". </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Indebtedness</U>. As to any Person and whether recourse is secured by or is
otherwise available against all or only a portion of the assets of such Person
and whether or not contingent, but without duplication: </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; every obligation of such Person
for money borrowed,
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; every obligation of such Person
evidenced by bonds, debentures, notes or other similar instruments, including
obligations incurred in connection with the acquisition of property, assets or
businesses,
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; every reimbursement obligation of
such Person with respect to letters of credit, bankers&#146; acceptances or
similar facilities issued for the account of such Person,
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; every obligation of such Person
issued or assumed as the deferred purchase price of property or services
(including securities repurchase agreements but excluding trade accounts payable
or accrued liabilities arising in the ordinary course of business which are not
overdue or which are being contested in good faith),
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; every obligation of such Person
under any Capitalized Lease,
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; every obligation of such Person
under any Synthetic Lease,
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; all sales by such Person of (i)
accounts or general intangibles for money due or to become due, (ii) chattel
paper, instruments or documents creating or evidencing a right to payment of
money or (iii) other receivables (collectively &#147;<U>receivables</U>&#148;),
whether pursuant to a purchase facility or otherwise, other than in connection
with the disposition of the business operations of such Person relating thereto
or a disposition of defaulted receivables for collection and not as a financing
arrangement, and together with any obligation of such Person to pay any
discount, interest, fees, indemnities, penalties, recourse, expenses or other
amounts in connection therewith,
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; every obligation of such Person
(an &#147;<U>equity</U> <U>related</U> <U>purchase</U> <U>obligation</U>&#148;)
to purchase, redeem, retire or otherwise acquire for value any shares of Capital
Stock issued by such Person or any rights measured by the value of such Capital
Stock,
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; every obligation of such Person
under any forward contract, futures contract, swap, option or other financing
agreement or arrangement (including, without limitation, caps, floors, collars
and similar agreements), the value of which is dependent upon interest rates,
currency exchange rates, commodities or other indices (a &#147;<U>derivative</U>
<U>contract</U>&#148;),
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; every obligation in respect of
Indebtedness of any other entity (including any partnership in which such Person
is a general partner) to the extent that such Person is liable therefor as a
result of such Person&#146;s ownership interest in or other relationship with
such entity, except to the extent that the terms of such Indebtedness provide
that such Person is not liable therefor and such terms are enforceable under
applicable law,
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; every obligation, contingent or
otherwise, of such Person guaranteeing, or having the economic effect of
guarantying or otherwise acting as surety for, any obligation of a type
described in any of clauses (a) through (j) (the &#147;<U>primary
obligation</U>&#148;) of another Person (the &#147;<U>primary
obligor</U>&#148;), in any manner, whether directly or indirectly, and
including, without limitation, any obligation of such Person (i) to purchase or
pay (or advance or supply funds for the purchase of) any security for the
payment of such primary obligation, (ii) to purchase property, securities or
services for the purpose of assuring the payment of such primary obligation, or
(iii) to maintain working capital, equity capital or other financial statement
condition or liquidity of the primary obligor so as to enable the primary
obligor to pay such primary obligation, and
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; all Rental Obligations of such
Person.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The &#147;<U>amount</U>&#148; or &#147;<U>principal amount</U>&#148; of any
Indebtedness at any time of determination represented by (i) any Indebtedness,
issued at a price that is less than the principal amount at maturity thereof,
shall be the amount of the liability in respect thereof determined in accordance
with GAAP, (ii) any Capitalized Lease shall be the principal component of the
aggregate of the rental obligation under such Capitalized Lease payable over the
term thereof that is not subject to termination by the lessee, (iii) any sale of
receivables shall be the amount of unrecovered capital or principal investment
of the purchaser (other than the Borrower or any of its wholly-owned
Subsidiaries) thereof, excluding amounts representative of yield or interest
earned on such investment, (iv) any Synthetic Lease shall be the stipulated loss
value, termination value or other equivalent amount, (v) any derivative contract
shall be the maximum amount of any termination or loss payment required to be
paid by such Person if such derivative contract were, at the time of
determination, to be terminated by reason of any event of default or early
termination event thereunder, whether or not such event of default or early
termination event has in fact occurred, (vi) any equity related purchase
obligation shall be the maximum fixed redemption or purchase price thereof
inclusive of any accrued and unpaid dividends to be comprised in such redemption
or purchase price, and (vii) any guaranty or other contingent liability referred
to in clause (k) shall be an amount equal to the stated or determinable amount
of the primary obligation in respect of which such guaranty or other contingent
obligation is made or, if not stated or determinable, the maximum reasonably
anticipated liability in respect thereof (assuming such Person is required to
perform thereunder) as determined by such Person in good faith. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Interest Payment Date</U>. (a) As to any Base Rate Loan (including any Swing
Line Loan), the last Business Day of the calendar quarter<I> </I>with respect to
interest accrued during such calendar quarter, including, without limitation,
the calendar quarter<I> </I>which includes the Drawdown Date of such Base Rate
Loan; and (b) as to any Eurodollar Rate Loan in respect of which the Interest
Period is (i) 3 months or less, the last Business Day of such Interest Period
and (ii) more than 3 months, the date that is 3 months from the first day of
such Interest Period and, in addition, the last Business Day of such Interest
Period. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Interest Period</U>. With respect to each Revolving Credit Loan, (a)
initially, the period commencing on the Drawdown Date of such Loan and ending on
the last day of one of the periods set forth below, as selected by the Borrower
in a Loan Request or as otherwise required by the terms of this Credit Agreement
(i) for any Base Rate Loan, the last day of the calendar quarter; and (ii) for
any Eurodollar Rate Loan, 1, 2, 3 or 6 months; and (b) thereafter, each period
commencing on the last day of the next preceding Interest Period applicable to
such Revolving Credit Loan and ending on the last day of one of the periods set
forth above, as selected by the Borrower in a Conversion Request;
<U>provided</U> that all of the foregoing provisions relating to Interest
Periods are subject to the following: </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; if any Interest Period with
respect to a Eurodollar Rate Loan would otherwise end on a day that is not a
Eurodollar Business Day, that Interest Period shall be extended to the next
succeeding Eurodollar 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 immediately preceding Eurodollar Business Day;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; if any Interest Period with
respect to a Base Rate Loan would end on a day that is not a Business Day, that
Interest Period shall end on the next succeeding Business Day;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(C)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; if the Borrower shall fail to give
notice as provided in &sect;2.7, the Borrower shall be deemed to have requested
a conversion of the affected Eurodollar Rate Loan to a Base Rate Loan and the
continuance of all Base Rate Loans as Base Rate Loans on the last day of the
then current Interest Period with respect thereto;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(D)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; any Interest Period relating to
any Eurodollar Rate Loan that begins on the last Eurodollar Business Day of a
calendar month (or on a day for which there is no numerically corresponding day
in the calendar month at the end of such Interest Period) shall end on the last
Eurodollar Business Day of a calendar month; and
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(E)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; any Interest Period that would
otherwise extend beyond the Revolving Credit Loan Maturity Date shall end on the
Revolving Credit Loan Maturity Date.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Interest Rate Protection Agreement</U>. Any agreement entered into between
the Borrower and any of the Lenders providing for an interest rate swap, cap,
collar, or other hedging mechanism with respect to interest payable on
Indebtedness. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Interpool</U>. Interpool, Inc., a Delaware corporation. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Interpool Subordinated Debt</U>. The Indebtedness of the Borrower to
Interpool in the original principal amount of $33,650,000, issued at an interest
rate <I>per annum</I> of 10&frac12;%, and evidenced by the Subordinated Note
Purchase Agreement and the promissory notes issued pursuant thereto, which has
been subordinated to the Obligations pursuant to the terms of the Subordination
and Intercreditor Agreement. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Investments</U>. All expenditures made and all liabilities incurred
(contingently or otherwise) for the acquisition of stock or Indebtedness of, or
for loans, advances, capital contributions or transfers of property to, or in
respect of any guaranties (or other commitments as described under
Indebtedness), or obligations of, any Person. In determining the aggregate
amount of Investments outstanding at any particular time: (a) the amount of any
Investment represented by a guaranty shall be taken at not less than the
principal amount of the obligations guaranteed and still outstanding; (b) there
shall be included as an Investment all interest accrued with respect to
Indebtedness constituting an Investment unless and until such interest is paid;
(c) there shall be deducted in respect of each such Investment any amount
received as a return of capital (but only by repurchase, redemption, retirement,
repayment, liquidating dividend or liquidating distribution); (d) there shall
not be deducted in respect of any Investment any amounts received as earnings on
such Investment, whether as dividends, interest or otherwise, except that
accrued interest included as provided in the foregoing clause (b) may be
deducted when paid; and (e) there shall not be deducted from the aggregate
amount of Investments any decrease in the value thereof. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Issuer Documents</U>. With respect to any Letter of Credit, the Letter of
Credit Application, and any other document, agreement and instrument entered
into by the L/C Issuer and the Borrower or in favor the L/C Issuer and relating
to any such Letter of Credit. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>L/C Advance</U>. With respect to each Lender, such Lender&#146;s funding of
its participation in any L/C Borrowing in accordance with its Commitment
Percentage. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>L/C Borrowing</U>. An extension of credit resulting from a drawing under any
Letter of Credit which has not been reimbursed on the date when made or
refinanced as a Revolving Credit Loan. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>L/C Issuer</U>. (i) Bank of America in its capacity as issuer of Letters of
Credit hereunder, or any successor issuer of Letters of Credit hereunder and
(ii) with respect to Existing Letters of Credit, Fleet National Bank in its
capacity as issuer of the Existing Letters of Credit. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Lease Collateral</U>.  See definition of "Nonrecourse Loan". </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Lender Affiliate</U>. With respect to any Lender, (i) an Affiliate of such
Lender or (ii) any entity (whether a corporation, partnership, limited liability
company, trust or legal entity) that is engaged in making, purchasing, holding
or otherwise investing in bank loans and similar extensions of credit in the
ordinary course of its business and is administered or managed by such Lender or
an Affiliate of such Lender. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Lenders</U>. Bank of America and the other lending institutions listed on
<U>Schedule</U>&nbsp;<U>1</U> hereto and any other Person who becomes an
assignee of any rights and obligations of a Lender pursuant to &sect;15, and, as
the context requires, includes the Swing Line Lender and the L/C Issuer.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Letter of Credit</U>. See &sect;4.1.1. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Letter of Credit Application</U>.  See &sect;4.1.2. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Letter of Credit Expiration Date</U>. The day that is seven days prior to the
Revolving Credit Loan Maturity Date then in effect (or, if such day is not a
Business Day, the next preceding Business Day). </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Letter of Credit Fee</U>.  See &sect;4.6. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Letter of Credit Participation</U>.  See &sect;4.1.4. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Letter of Credit Sublimit</U>. An amount equal to $15,000,000. The Letter of
Credit Sublimit is part of, and not in addition to, the Total Commitment.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Lien</U>. Any mortgage, deed of trust, security interest, pledge,
hypothecation, assignment, attachment, deposit arrangement, encumbrance, lien
(statutory, judgment or otherwise), or other security agreement or preferential
arrangement of any kind or nature whatsoever (including any conditional sale or
other title retention agreement, any Capitalized Lease, any Synthetic Lease, any
financing lease involving substantially the same economic effect as any of the
foregoing and the filing of any financing statement under the Uniform Commercial
Code or comparable law of any jurisdiction). </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Loan Documents</U>. This Credit Agreement, the Revolving Credit Notes, the
Letter of Credit Applications, the Letters of Credit<I>, </I>each Issuer
Document, the Subordination and Intercreditor Agreement, the Guaranty, the Fee
Letter and the Security Documents. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Loan Request</U>. See &sect;2.6. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Master Lease Agreements</U>. Collectively, (i) that certain Amended and
Restated Purchase and Master Lease Agreement (CAI-SBLF), dated as of April 30,
1998, between Sumitomo Bank of New York Trust Company, as owner trustee (the
&#147;Owner Trustee&#148;) and the Borrower and (ii) that certain Amended and
Restated Purchase and Master Lease Agreement (CAI-SBCM), dated as of April 30,
1998, between the Owner Trustee and the Borrower, in each case, as amended from
time to time in accordance with &sect;9.8 hereof. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Material Adverse Effect</U>. With respect to any event or occurrence of
whatever nature (including any adverse determination in any litigation,
arbitration or governmental investigation or proceeding): </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a) a material adverse effect on the business, properties, prospects, condition
(financial or otherwise), assets, operations or income of the Borrower,
individually or the Borrower and its Subsidiaries, taken as a whole; </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) an adverse effect on the ability of the Borrower or any of its Subsidiaries,
individually and/or taken as a whole, to perform any of their respective
Obligations under any of the Loan Documents to which it is a party; or
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c) any impairment of the validity, binding effect or enforceability of this
Credit Agreement or any of the other Loan Documents, any impairment of the
rights, remedies or benefits available to the Administrative Agent or any Lender
under any Loan Document or any impairment of the attachment, perfection or
priority of any Lien of the Administrative Agent under the Security Documents.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Maximum Drawing Amount</U>. The maximum aggregate amount that the
beneficiaries may at any time draw under outstanding Letters of Credit, as such
aggregate amount may be reduced or increased from time to time pursuant to the
terms of the Letters of Credit. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Moody&#146;s</U>. Moody&#146;s Investors Services, Inc. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Multiemployer Plan</U>. Any multiemployer plan within the meaning of
&sect;3(37) of ERISA maintained or contributed to by the Borrower or any ERISA
Affiliate. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Net Book Value</U>. With respect to any Containers owned by the Borrower
which are standard dry cargo Containers and which were acquired on or after July
1, 2001, the Original Cost to the Borrower of such Containers adjusted to
reflect depreciation over twelve and a half years on a straight line basis, to
residuals of $645 for a 20-foot standard dry cargo Container, $795 for a 40-foot
standard dry cargo Container and $805 for a 40-foot standard
&#147;high-cube&#148; dry cargo Container. With respect to any Containers owned
by the Borrower which are non-standard Containers, the Original Cost to the
Borrower of such Containers adjusted to reflect depreciation over fifteen years
on a straight line basis to a residual of 15% of the Original Cost of such
Containers. With respect to any Containers owned by the Borrower which are
standard dry cargo Containers and which were acquired on or before June 30,
2001, the Original Cost to the Borrower of such Containers adjusted to reflect
depreciation using the following depreciation method: from the date of purchase
until June 30, 2001, the Original Cost to the Borrower of such Containers
adjusted to reflect depreciation on a straight line basis over fifteen years to
a residual value of 15% of the Original Cost of such Containers. From and after
July 1, 2001, depreciation shall be calculated over the remainder of a
cumulative twelve and a half year life, on a straight line basis, to residuals
of $645 for a 20-foot standard dry cargo Container, $795 for a 40-foot standard
dry cargo Container and $805 for a 40-foot standard &#147;high-cube&#148; dry
cargo Container. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Net Present Value</U>. At the relevant time of reference thereto, and as the
context may require, the discounted present value of Direct Finance Lease
Receivables, discounted at the Direct Finance Lease Rate per annum of the
remaining term of the applicable Direct Finance Lease. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Non-Extension Notice Date</U>. See &sect;4.1.6. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Nonrecourse Loan</U>. A loan to the Borrower (a) which is secured solely by
(i) specifically identified Containers (the &#147;<U>Identified
Containers</U>&#148;), (ii) one or more leases of such Identified Containers,
including all rentals thereunder (the &#147;<U>Lease Collateral</U>&#148;), and
(iii) all proceeds of such Identified Containers and Lease Collateral; (b) which
is payable solely from the related Identified Containers and Lease Collateral,
and as to which rentals under the related Lease Collateral have been assigned to
the applicable lender, and are paid directly to such lender; and (c) with
respect to which payments of principal and interest are without recourse to the
Borrower or the Borrower&#146;s property (other than the related Identified
Containers and Lease Collateral). </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Obligations</U>. All indebtedness, obligations and liabilities of any of the
Borrower and its Subsidiaries to any of the Lenders, the Swing Line Lender, the
L/C Issuer and the Administrative Agent, individually or collectively, existing
on the date of this Credit Agreement or arising thereafter, direct or indirect,
joint or several, absolute or contingent, matured or unmatured, liquidated or
unliquidated, secured or unsecured, arising by contract, operation of law or
otherwise, arising or incurred under this Credit Agreement or any of the other
Loan Documents or any Interest Rate Protection Agreement or any Swap Contract
entered into with any Lender or the Administrative Agent or any of the Revolving
Credit Loans or Swing Line Loans made or Reimbursement Obligations incurred or
any of the Revolving Credit Notes, Letter of Credit Applications, Letters of
Credit or other instruments at any time evidencing any of the foregoing.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Original Cost</U>. With respect to any Container, the purchase price therefor
expressed in Dollars, as determined in accordance with GAAP, consistently
applied. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>outstanding</U>. With respect to the Revolving Credit Loans or Swing Line
Loans, the aggregate unpaid principal thereof as of any date of determination.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Participant</U>. See &sect;15.1.4. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>PBGC</U>. The Pension Benefit Guaranty Corporation created by &sect;4002 of
ERISA and any successor entity or entities having similar responsibilities.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Perfection Certificate</U>. The Perfection Certificate as defined in the
Security Agreement. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Permitted Liens</U>. Liens permitted by &sect;9.2. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Person</U>. Any individual, corporation, limited liability company, limited
liability partnership, trust, other unincorporated association, business, or
other legal entity, and any Governmental Authority. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>RCRA</U>. See &sect;7.18(a). </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Real Estate</U>. All real property at any time owned or leased (as lessee or
sublessee) by the Borrower or any of its Subsidiaries. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Reference Period</U>. As of any date of determination, the period of four (4)
consecutive fiscal quarters of the Borrower and its Subsidiaries ending on such
date, or if such date is not a fiscal quarter end date, the period of four (4)
consecutive fiscal quarters most recently ended (in each case treated as a
single accounting period). </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Register</U>. See &sect;15.3. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Reimbursement Obligation</U>. The Borrower&#146;s obligation to reimburse the
Administrative Agent and the Lenders on account of any drawing under any Letter
of Credit as provided in &sect;4.2. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Related Parties</U>. With respect to any Person, such Person&#146;s
Affiliates and the partners, directors, officers, employees, agents and advisors
of such Person and of such Person&#146;s Affiliates. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Rental Obligations</U>. All present or future obligations of the Borrower or
any of its Subsidiaries under any rental agreements or leases of real or
personal property, other than (a) obligations that can be terminated by the
giving of notice without liability to the Borrower or such Subsidiary in excess
of the liability for rent due as of the date on which such notice is given and
under which no penalty or premium is paid as a result of any such termination,
(b) obligations under rental agreements relating to equipment other than
Containers having an aggregate value of less than $1,000,000 for all such
agreements, and (c) obligations in respect of any Capitalized Leases. For
purposes of this Credit Agreement, the aggregate amount of Rental Obligations of
the Borrower and its Subsidiaries shall, as at any date of determination, be an
amount equal to the net present value, calculated at a discount rate of nine
percent (9.00%) per annum, of the future Rental Obligations of such Person.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Required Lenders</U>. As of any date, the Lenders holding more than fifty
percent (50%) of the outstanding principal amount of the Revolving Credit Notes
on such date; and if no such principal is outstanding, the Lenders whose
aggregate Commitments constitute more than fifty percent (50%) of the Total
Commitment. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Responsible Officer</U>. The chief executive officer, president or chief
financial officer of the Borrower. Any document delivered hereunder that is
signed by a Responsible Officer of the Borrower shall be conclusively presumed
to have been authorized by all necessary corporate, partnership and/or other
action on the part of the Borrower and such Responsible Officer shall be
conclusively presumed to have acted on behalf of the Borrower. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Restricted Payment</U>. In relation to the Borrower and its Subsidiaries, any
(a) Distribution or (b) payment or prepayment by the Borrower or its
Subsidiaries to (i) the Borrower&#146;s or any Subsidiary&#146;s shareholders
(or other equity holders), in each case, other than to the Borrower, or (ii) to
any Affiliate of the Borrower or any Subsidiary or any Affiliate of the
Borrower&#146;s or such Subsidiary&#146;s shareholders (or other equity
holders), in each case, other than to the Borrower. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Revolving Credit Loan Maturity Date</U>.  April 28, 2008. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Revolving Credit Loans</U>. Revolving credit loans made or to be made by the
Lenders to the Borrower pursuant to &sect;2. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Revolving Credit Note Record</U>. The grid attached to a Revolving Credit
Note, or the continuation of such grid, or any other similar record, including
computer records, maintained by any Lender with respect to any Revolving Credit
Loan referred to in such Revolving Credit Note. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Revolving Credit Notes</U>. See &sect;2.4. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>SARA</U>. See &sect;7.18(a). </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Security Agreement</U>. The Security Agreement, dated or to be dated as of
the Closing Date, between the Borrower, each Guarantor and the Administrative
Agent, and in form and substance satisfactory to the Lenders and the
Administrative Agent, as the same may be amended, restated, supplemented or
otherwise modified and in effect from time to time. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Security Documents</U>. The Security Agreement, the Stock Pledge Agreement,
the Cash Collateral Pledge Agreement and all other instruments and documents,
including without limitation, Uniform Commercial Code financing statements (or
the equivalent thereof in any applicable foreign jurisdiction), required to be
executed or delivered pursuant to (a) any Security Document or (b)
&sect;&sect;8.16, 8.17 or 8.18. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Senior Funded Debt</U>. At any time of determination, with respect to the
Borrower and its Subsidiaries, the sum, without duplication, of (a) the
aggregate amount of Indebtedness (excluding Subordinated Debt)<B><I>
</I></B><I></I>of the Borrower and its Subsidiaries, on a consolidated basis,
relating to (i) the borrowing of money or the obtaining of credit, including the
issuance of notes or bonds, (ii) the deferred purchase price of assets (other
than trade payables incurred in the ordinary course of business), (iii)
Capitalized Leases, (iv) Rental Obligations, and (v) the maximum drawing amount
of all letters of credit outstanding <U>plus</U> (b) Indebtedness of the type
referred to in clause (a) of another Person guaranteed by the Borrower or any of
its Subsidiaries<I>.</I> </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>S&amp;P</U>. Standard &amp; Poor&#146;s Ratings Group. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Solvent</U>. With respect to any Person on a particular date, that on such
date (a) the fair value of the assets of such Person is greater than the total
amount of liabilities, including, without limitation, contingent liabilities, of
such Person, (b) the present fair saleable value of the assets of such Person is
not less than the amount that will be required to pay the probable liability of
such Person on its debts as they become absolute and matured, (c) such Person is
able to realize upon its assets and pay its debts and other liabilities,
contingent obligations and other commitments as they mature in the normal course
of business, (d) such Person does not intend to, and does not believe that it
will, incur debts or liabilities beyond such Person&#146;s ability to pay as
such debts and liabilities mature, and (e) such Person is not engaged in
business or a transaction, and is not about to engage in business or a
transaction, for which such Person&#146;s property would constitute unreasonably
small capital after giving due consideration to the prevailing practice in the
industry in which such Person is engaged. In computing the amount of contingent
liabilities at any time, it is intended that such liabilities will be computed
at the amount which, in light of all the facts and circumstances existing at
such time, represents the amount that can reasonably be expected to become an
actual or matured liability. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Staff Loan Program</U>. A program administered by the Borrower pursuant to
which the Borrower makes loans to employees; <U>provided</U>, that the aggregate
principal amount of loans outstanding at any time under such program shall not
exceed $1,500,000, and that no more than an aggregate of $100,000 of which may
be unsecured. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Stock Pledge Agreement</U>. The Stock Pledge Agreement, dated or to be dated
as of the Closing Date, between the Borrower, certain Guarantors and the
Administrative Agent, and in form and substance satisfactory to the Lenders and
the Administrative Agent as the same may be amended, restated, supplemented and
otherwise modified and in effect from time to time. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Subordinated Debt</U>. The Interpool Subordinated Debt and other Indebtedness
of the Borrower or any of its Subsidiaries that is expressly subordinated and
made junior to the payment and performance in full of the Obligations, and
evidenced as such by the Subordination and Intercreditor Agreement or by another
written instrument containing subordination provisions in form and substance
approved by the Administrative Agent and the Lenders in writing. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Subordinated Note Purchase Agreement</U>. That certain Note Purchase
Agreement, dated as of April 30, 1998, between the Borrower and Interpool, as
amended by that certain Amendment No. 1, dated as of April 28, 2000, that
certain Amendment No. 2, dated as of March 15, 2002, that certain Amendment No.
3, dated as of June 27, 2002, that certain Amendment No. 4, dated as of February
25, 2003, and as the same may be further amended from time to time in accordance
with &sect;9.8 hereof, together with all other documents, instruments, and other
agreements entered into in connection therewith, each in the form delivered to
the Administrative Agent prior to the Closing Date. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Subordination and Intercreditor Agreement</U>. That certain Amended and
Restated Subordination and Intercreditor Agreement, dated as of June 27, 2002,
among the Administrative Agent, Interpool and the Borrower and in form and
substance satisfactory to the Lenders and the Administrative Agent, as amended
by Amendment No. 1 thereto, dated as of the date hereof, and as the same may be
amended, restated, supplemented and in effect from time to time. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Subordination Documents</U>. The Subordination and Intercreditor Agreement,
the Subordinated Note Purchase Agreement and all other documents, instruments,
and other agreements entered into in connection therewith. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Subsidiary</U>. Any corporation, association, trust, or other business entity
of which the designated parent shall at any time own directly or indirectly
through a Subsidiary or Subsidiaries at least a majority (by number of votes) of
the outstanding Voting Stock. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Swap Contract</U>. (a) Any and all rate swap transactions, basis swaps,
credit derivative transactions, forward rate transactions, commodity swaps,
commodity options, forward commodity contracts, equity or equity index swaps or
options, bond or bond price or bond index swaps or options or forward bond or
forward bond price or forward bond index transactions, interest rate options,
forward foreign exchange transactions, cap transactions, floor transactions,
collar transactions, currency swap transactions, cross-currency rate swap
transactions, currency options, spot contracts, or any other similar
transactions or any combination of any of the foregoing (including any options
to enter into any of the foregoing), whether or not any such transaction is
governed by or subject to any master agreement and (b) any and all transactions
of any kind, and the related confirmations, which are subject to the terms and
conditions of, or governed by, any form of master agreement published by the
International Swaps and Derivatives Association, Inc., any International Foreign
Exchange Master Agreement, or any other master agreement (any such master
agreement, together with any related schedules, a &#147;<U>Master
Agreement</U>&#148;), including any such obligations or liabilities under any
Master Agreement. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Swing Line</U>. The revolving credit facility made available by the Swing
Line Lender pursuant to &sect;2.10. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Swing Line Borrowing</U>. A borrowing of a Swing Line Loan pursuant to
&sect;2.10. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Swing Line Lender</U>. Bank of America in its capacity as provider of Swing
Line Loans, or any successor swing line lender hereunder. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Swing Line Loan</U>. See &sect;2.10.1. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Swing Line Loan Notice</U>. A notice of a Swing Line Borrowing pursuant to
&sect;2.10.2, which, if in writing, shall be substantially in the form of
<U>Exhibit F</U>. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Swing Line Sublimit</U>. An amount equal to the lesser of (a) $10,000,000 and
(b) the Total Commitment. The Swing Line Sublimit is part of, and not in
addition to, the Total Commitment. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Syndication Agent</U>. See Introductory Paragraph. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Synthetic Lease</U>. Any lease of goods or other property, whether real or
personal, which is treated as an operating lease under GAAP and as a loan or
financing for U.S. income tax purposes. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Total Commitment</U>. The sum of the Commitments of the Lenders, as in effect
from time to time. The Total Commitment on the Closing Date is $175,000,000.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Total Leverage Ratio</U>. As at any date of determination, the ratio of (a)
Consolidated Funded Debt as at such date to (b) Consolidated EBITDAR for the
Reference Period most recently ended. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Type</U>. As to any Revolving Credit Loan, its nature as a Base Rate Loan or
a Eurodollar Rate Loan. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Unpaid Reimbursement Obligation</U>. Any Reimbursement Obligation for which
the Borrower does not reimburse the Administrative Agent and the Lenders on the
date specified in, and in accordance with, &sect;4.2. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Voting Stock</U>. Stock or similar interests, of any class or classes
(however designated), the holders of which are at the time entitled, as such
holders, to vote for the election of a majority of the directors (or persons
performing similar functions) of the corporation, association, trust or other
business entity involved, whether or not the right so to vote exists by reason
of the happening of a contingency. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><U>Rules of Interpretation</U>.</B> </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A reference to any document or
agreement shall include such document or agreement as amended, modified or
supplemented from time to time in accordance with its terms and the terms of
this Credit Agreement.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The singular includes the plural
and the plural includes the singular.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A reference to any law includes
any amendment or modification to such law.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A reference to any Person includes
its permitted successors and permitted assigns.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounting terms not otherwise
defined herein have the meanings assigned to them by GAAP applied on a
consistent basis by the accounting entity to which they refer.
</TD>
</TR>
</TABLE>
<BR>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The words &#147;include&#148;,
&#147;includes&#148; and &#147;including&#148; are not limiting.
</TD>
</TR>
</TABLE>
<BR>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All terms not specifically defined
herein or by GAAP, which terms are defined in the Uniform Commercial Code as in
effect in the State of New York, have the meanings assigned to them therein,
with the term &#147;<U>instrument</U>&#148; being that defined under Article 9
of the Uniform Commercial Code.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reference to a particular
&#147;&sect;&#148; refers to that section of this Credit Agreement unless
otherwise indicated.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The words &#147;herein&#148;,
&#147;hereof&#148;, &#147;hereunder&#148; and words of like import shall refer
to this Credit Agreement as a whole and not to any particular section or
subdivision of this Credit Agreement.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unless otherwise expressly
indicated, in the computation of periods of time from a specified date to a
later specified date, the word &#147;from&#148; means &#147;from and
including,&#148; the words &#147;to&#148; and &#147;until&#148; each mean
&#147;to but excluding,&#148; and the word &#147;through&#148; means &#147;to
and including.&#148;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This Credit Agreement and the
other Loan Documents are the result of negotiation among, and have been reviewed
by counsel to, among others, the Administrative Agent and the Borrower and are
the product of discussions and negotiations among all parties. Accordingly, this
Credit Agreement and the other Loan Documents are not intended to be construed
against the Administrative Agent or any of the Lenders merely on account of the
Administrative Agent&#146;s or any Lender&#146;s involvement in the preparation
of such documents.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unless otherwise specified herein,
the amount of a Letter of Credit at any time shall be deemed to be the stated
amount of such Letter of Credit in effect at such time; <U>provided</U>,
<U>however</U>, that with respect to any Letter of Credit that, by its terms or
the terms of any Issuer Document related thereto, provides for one or more
automatic increases in the stated amount thereof, the amount of such Letter of
Credit shall be deemed to be the maximum stated amount of such Letter of Credit
after giving effect to all such increases, whether or not such maximum stated
amount is in effect at such time. For all purposes of this Agreement, if on any
date of determination a Letter of Credit has expired by its terms but any amount
may still be drawn thereunder by reason of the operation of Rule 3.14 of the
&#147;International Standby Practices 1998&#148; (ISP) published by the
Institute of International Banking Law &amp; Practice (or such later version
thereof as may be in effect at the time of issuance), such Letter of Credit
shall be deemed to be &#147;outstanding&#148; in the amount so remaining
available to be drawn.
</TD>
</TR>
</TABLE>
<BR>

<P ALIGN=CENTER><FONT SIZE=3><B>2.&nbsp;&nbsp;<U>THE REVOLVING CREDIT FACILITY</U>.</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.1.&nbsp;&nbsp;<U>Commitment to Lend</U>.</B>&nbsp;&nbsp;Subject to the
terms and conditions set forth in this Credit Agreement, each of the Lenders
severally agrees to lend to the Borrower and the Borrower may borrow, repay, and
reborrow from time to time from the Closing Date until the Revolving Credit Loan
Maturity Date upon notice by the Borrower to the Administrative Agent given in
accordance with &sect;2.6, such sums as are requested by the Borrower up to a
maximum aggregate amount outstanding (after giving effect to all amounts
requested) at any one time equal to such Lender&#146;s Commitment <U>minus</U>
such Lender&#146;s Commitment Percentage of (i) the sum of the Maximum Drawing
Amount and all Unpaid Reimbursement Obligations <U>plus</U> (ii) the outstanding
amount of Swing Line Loans, <U>provided</U> that the sum of the outstanding
amount of the Revolving Credit Loans (after giving effect to all amounts
requested) <U>plus</U> the Maximum Drawing Amount and all Unpaid Reimbursement
Obligations <U>plus</U> the outstanding amount of Swing Line Loans shall not at
any time exceed the lesser of (i) the Total Commitment at such time and (ii) the
Borrowing Base at such time. The Revolving Credit Loans shall be made <U>pro</U>
<U>rata</U> in accordance with each Lender&#146;s Commitment Percentage. Each request for
a Revolving Credit Loan hereunder shall constitute a representation and warranty by the
Borrower that the conditions set forth in &sect;11 and &sect;12, in the case of the
initial Revolving Credit Loans to be made on the Closing Date, and &sect;12, in the case
of all other Revolving Credit Loans, have been satisfied on the date of such request. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.2.&nbsp;&nbsp;<U>Commitment Fee</U>.</B>&nbsp;&nbsp;The Borrower agrees to
pay to the Administrative Agent for the accounts of the Lenders in accordance
with their respective Commitment Percentages a commitment fee (the
&#147;<U>Commitment</U> <U>Fee</U>&#148;) calculated at the rate per annum of
the Applicable Margin with respect to the Commitment Fee as in effect from time
to time on the actual daily amount during each calendar quarter or portion
thereof from the<I> </I>Closing Date to the Revolving Credit Loan Maturity Date
by which the Total Commitment <U>minus</U> the sum of the Maximum Drawing Amount
and all Unpaid Reimbursement Obligations exceeds the outstanding amount of
Revolving Credit Loans (excluding Swing Line Loans) during such calendar
quarter. The Commitment Fee shall be payable quarterly in arrears on the last
Business Day of each calendar quarter for such calendar quarter commencing on
the first such date following the Closing Date, with a final payment on the
Revolving Credit Loan Maturity Date or any earlier date on which the Commitments
shall terminate. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.3.&nbsp;&nbsp;<U>Reduction of Total Commitment</U>.</B>&nbsp;&nbsp;The
Borrower shall have the right at any time and from time to time upon five (5)
Business Days prior written notice to the Administrative Agent to reduce by
$500,000 or an integral multiple thereof or to terminate entirely the Total
Commitment, whereupon the Commitments of the Lenders shall be reduced <U>pro</U>
<U>rata</U> in accordance with their respective Commitment Percentages of the
amount specified in such notice or, as the case may be, terminated. Promptly
after receiving any notice of the Borrower delivered pursuant to this &sect;2.3,
the Administrative Agent will notify the Lenders of the substance thereof. Upon
the effective date of any such reduction or termination, the Borrower shall pay
to the Administrative Agent for the respective accounts of the Lenders the full
amount of any Commitment Fee then accrued on the amount of the reduction. No
reduction or termination of the Commitments may be reinstated. If, after giving
effect to any reduction of the Total Commitments, the Letter of Credit Sublimit
or the Swing Line Sublimit exceeds the amount of the Total Commitments, such
Sublimit shall be automatically reduced by the amount of such excess.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.4.&nbsp;&nbsp;<U>Evidence of Debt.</U></B>&nbsp;&nbsp;(a) The Revolving
Credit Loans made by each Lender shall be evidenced by one or more accounts or
records maintained by such Lender and by the Administrative Agent in the
ordinary course of business. The accounts or records maintained by the
Administrative Agent and each Lender shall be conclusive absent manifest error
of the amount of the Revolving Credit Loans made by the Lenders to the Borrower
and the interest and payments thereon. Any failure to so record or any error in
doing so shall not, however, limit or otherwise affect the obligation of the
Borrower hereunder to pay any amount owing with respect to the Obligations. In
the event of any conflict between the accounts and records maintained by any
Lender and the accounts and records of the Administrative Agent in respect of
such matters, the accounts and records of the Administrative Agent shall control
in the absence of manifest error. Upon the request of any Lender made through
the Administrative Agent, the Borrower shall execute and deliver to such Lender
(through the Administrative Agent) a promissory note of the Borrower in
substantially the form of <U>Exhibit</U>&nbsp;<U>B</U> hereto (each a
&#147;<U>Revolving</U> <U>Credit Note</U>&#148;), which shall evidence such
Lender&#146;s Revolving Credit Loans in addition to such accounts or records.
Each Lender may attach schedules to its Revolving Credit Note and endorse
thereon the date, amount, interest rate and maturity of such Lender&#146;s
Revolving Credit Loans and payments with respect thereto. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In addition to the accounts and
records referred to in subsection (a) above, each Lender and the Administrative
Agent shall maintain in accordance with its usual practice accounts or records
evidencing the purchases and sales by such Lender of participations in Letters
of Credit and Swing Line Loans. In the event of any conflict between the
accounts and records maintained by the Administrative Agent and the accounts and
records of any Lender in respect of such matters, the accounts and records of
the Administrative Agent shall control in the absence of manifest error.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.5.&nbsp;&nbsp;<U>Interest on Revolving Credit Loans and Swing Line
Loans</U>.</B>&nbsp;&nbsp;Except as otherwise provided in &sect;5.10,
</FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each Revolving Credit Loan which
is a Base Rate Loan shall bear interest for the period commencing with the
Drawdown Date thereof and ending on the last day of the Interest Period with
respect thereto at the rate per annum equal to the Base Rate <U>plus</U> the
Applicable Margin with respect to Base Rate Loans as in effect from time to
time; <U>provided</U>, <U>however</U>, in the event that the interest rate per
annum applicable to Base Rate Loans is less than the Eurodollar Rate then
applicable for an Interest Period of one month <U>plus</U> the Applicable Margin
with respect to Eurodollar Rate Loans in effect at such time, each Revolving
Credit Loan which is a Base Rate Loan shall bear interest at the rate per annum
equal to the Eurodollar Rate then applicable for an Interest Period of one month
<U>plus</U> the Applicable Margin with respect to                Eurodollar Rate Loans in
effect at such time.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each Revolving Credit Loan which
is a Eurodollar Rate Loan shall bear interest for the period commencing with the
Drawdown Date thereof and ending on the last day of the Interest Period with
respect thereto at the rate per annum equal to the Eurodollar Rate determined
for such Interest Period <U>plus</U> the Applicable Margin with respect to
Eurodollar Rate Loans as in effect from time to time.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each Swing Line Loan shall bear
interest from the applicable Drawdown Date thereof at the rate per annum equal
to the Base Rate <U>plus</U> the Applicable Margin with respect to Base Rate
Loans as in effect from time to time; <U>provided</U>, <U>however</U>, in the
event that the interest rate per annum applicable to Swing Line Loans is less
than the Eurodollar Rate then applicable for an Interest Period of one month
<U>plus</U> the Applicable Margin with respect to Eurodollar Rate Loans in
effect at such time, each Swing Line Loan shall bear interest at the rate per
annum equal to the Eurodollar Rate then applicable for an Interest Period of one
month <U>plus</U> the Applicable Margin with respect to Eurodollar Rate Loans in
effect at such time.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>The Borrower promises to pay interest on each Revolving Credit
Loan and each Swing Line Loan in arrears on each Interest Payment Date with
respect thereto. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.6.&nbsp;&nbsp;<U>Requests for Revolving Credit
Loans</U>.</B>&nbsp;&nbsp;The Borrower shall give to the Administrative Agent
written notice in the form of <U>Exhibit</U>&nbsp;<U>C</U> hereto (or telephonic
notice confirmed in a writing in the form of <U>Exhibit</U>&nbsp;<U>C</U>
hereto) of each Revolving Credit Loan requested hereunder (a &#147;<U>Loan
Request</U>&#148;) no less than (a) two (2) Business Days prior to the proposed
Drawdown Date of any Base Rate Loan and (b) four (4) Eurodollar Business Days
prior to the proposed Drawdown Date of any Eurodollar Rate Loan. Each such
notice shall specify (i) the principal amount of the Revolving Credit Loan
requested, (ii) the proposed Drawdown Date of such Revolving Credit Loan, (iii)
the Interest Period for such Revolving Credit Loan and (iv) the Type of such
Revolving Credit Loan. Promptly upon receipt of any such notice, the
Administrative Agent shall notify each of the Lenders thereof. Each Loan Request
shall be irrevocable and binding on the Borrower and shall obligate the Borrower
to accept the Revolving Credit Loan requested from the Lenders on the proposed
Drawdown Date. Each Loan Request relating to a Base Rate Loan shall be in a
minimum aggregate amount of $500,000 and each Loan Request relating to a
Eurodollar Rate Loan shall be in a minimum aggregate amount of $1,000,000.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.7.&nbsp;&nbsp;<U>Conversion Options</U>.</B> </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.7.1.&nbsp;&nbsp;<U>Conversion to Different Type of Revolving Credit
Loan</U>.</B>&nbsp;&nbsp;The Borrower may elect from time to time to convert any
outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type,
<U>provided</U> that (a) with respect to any such conversion of a Eurodollar
Rate Loan to a Base Rate Loan, the Borrower shall give the Administrative Agent
at least four (4) Business Days prior written notice of such election; (b) with
respect to any such conversion of a Base Rate Loan to a Eurodollar Rate Loan,
the Borrower shall give the Administrative Agent at least five (5) Eurodollar
Business Days prior written notice of such election; (c) with respect to any
such conversion of a Eurodollar Rate Loan into a Base Rate Loan, such conversion
shall only be made on the last day of the Interest Period with respect thereto
and (d) no Revolving Credit Loan may be converted into a Eurodollar Rate Loan
when any Default or Event of Default has occurred and is continuing. On the date
on which such conversion is being made each Lender shall take such action as is
necessary to transfer its Commitment Percentage of such Revolving Credit Loans
to its Domestic Lending Office or its Eurodollar Lending Office, as the case may
be. All or any part of outstanding Revolving Credit Loans of any Type may be
converted into a Revolving Credit Loan of another Type as provided herein,
<U>provided</U> that any partial conversion shall be in an aggregate principal
amount of at least $500,000, in the case of conversion to Base Rate Loans, and
$1,000,000 in the case of conversion to Eurodollar Rate Loans. Each Conversion
Request relating to the conversion of a Revolving Credit Loan to a Eurodollar
Rate Loan shall be irrevocable by the Borrower.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.7.2.&nbsp;&nbsp;<U>Continuation of Type of Revolving Credit
Loan</U>.</B>&nbsp;&nbsp;Any Revolving Credit Loan of any Type may be continued
as a Revolving Credit Loan of the same Type upon the expiration of an Interest
Period with respect thereto by compliance by the Borrower with the notice
provisions contained in &sect;2.7.1; <U>provided</U> that no Eurodollar Rate
Loan may be continued as such when any Default or Event of Default has occurred
and is continuing, but shall be automatically converted to a Base Rate Loan on
the last day of the first Interest Period relating thereto ending during the
continuance of any Default or Event of Default of which officers of the
Administrative Agent active upon the Borrower&#146;s account have actual
knowledge. In the event that the Borrower fails to provide any such notice with
respect to the continuation of any Eurodollar Rate Loan as such, then such
Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the
last day of the first Interest Period relating thereto. The Administrative Agent
shall notify the Lenders promptly when any such automatic conversion
contemplated by this &sect;2.7 is scheduled to occur.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.7.3.&nbsp;&nbsp;<U>Eurodollar Rate Loans</U>.</B>&nbsp;&nbsp;Any conversion
to or from Eurodollar Rate Loans shall be in such amounts and be made pursuant
to such elections so that, after giving effect thereto, the aggregate principal
amount of all Eurodollar Rate Loans having the same Interest Period shall not be
less than $1,000,000. No more than five (5) Eurodollar Rate Loans having
different Interest Periods may be outstanding at any time.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.8.&nbsp;&nbsp;<U>Funds for Revolving Credit Loans</U>.</B> </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.8.1.&nbsp;&nbsp;<U>Funding Procedures</U>.</B>&nbsp;&nbsp;Not later than
1:00 p.m. (Boston time) on the proposed Drawdown Date of any Revolving Credit
Loans, each of the Lenders will make available to the Administrative Agent, at
the Administrative Agent&#146;s Office, in immediately available funds, the
amount of such Lender&#146;s Commitment Percentage of the amount of the
requested Revolving Credit Loans. Upon receipt from each Lender of such amount,
and upon receipt of the documents required by &sect;&sect;11 and 12 and the
satisfaction of the other conditions set forth therein, to the extent
applicable, the Administrative Agent will make available to the Borrower the
aggregate amount of such Revolving Credit Loans made available to the
Administrative Agent by the Lenders.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.8.2.&nbsp;&nbsp;<U>Advances by Administrative Agent</U>.</B>&nbsp;&nbsp;(a)
The Administrative Agent may, unless notified to the contrary by any Lender
prior to a Drawdown Date, assume that such Lender has made available to the
Administrative Agent on such Drawdown Date the amount of such Lender&#146;s
Commitment Percentage of the Revolving Credit Loans to be made on such Drawdown
Date, and the Administrative Agent may (but it shall not be required to), in
reliance upon such assumption, make available to the Borrower a corresponding
amount. In such event, if a Lender has not in fact made its share of the
applicable Revolving Credit Loan available to the Administrative Agent, then the
applicable Lender and the Borrower severally agree to pay to the Administrative
Agent forthwith on demand such corresponding amount in immediately available
funds with interest thereon, for each day from and including the date such
amount is made available to the Borrower to but excluding the date of payment to
the Administrative Agent, at (A) in the case of a payment to be made by such
Lender, the greater of the Federal Funds Rate and a rate determined by the
Administrative Agent in accordance with banking industry rules on interbank
compensation and (B) in the case of a payment to be made by the Borrower, the
interest rate applicable to Base Rate Loans. If the Borrower and such Lender
shall pay such interest to the Administrative Agent for the same or an
overlapping period, the Administrative Agent shall promptly remit to the
Borrower the amount of such interest paid by the Borrower for such period. If
such Lender pays its share of the applicable Revolving Credit Loan to the
Administrative Agent, then the amount so paid shall constitute such
Lender&#146;s share of the such Revolving Credit Loan. Any payment by the
Borrower shall be without prejudice to any claim the Borrower may have against a
Lender that shall have failed to make such payment to the Administrative Agent.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unless the Administrative Agent
shall have received notice from the Borrower prior to the date on which any
payment is due to the Administrative Agent for the account of the Lenders
hereunder that the Borrower will not make such payment, the Administrative Agent
may assume that the Borrower has made such payment on such date in accordance
herewith and may, in reliance upon such assumption, distribute to the Lenders or
the L/C Issuer, as the case may be, the amount due. In such event, if the
Borrower has not in fact made such payment, then each of the Lenders severally
agrees to repay to the Administrative Agent forthwith on demand the amount so
distributed to such Lender, in immediately available funds with interest
thereon, for each day from and including the date such amount is distributed to
it to but excluding the date of payment to the Administrative Agent, at the
greater of the Federal Funds Rate and a rate determined by the Administrative
Agent in accordance with banking industry rules on interbank compensation.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A notice of the Administrative
Agent to any Lender or any Borrower with respect to any amount owing under
&sect;&sect;2.8.2(a) and (b) shall be conclusive, absent manifest error.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.8.3.&nbsp;&nbsp;<U>Obligations of Lenders Several</U>.</B>&nbsp;&nbsp;The
obligations of the Lenders hereunder to make Revolving Credit Loans, to fund
participations in Letters of Credit and Swing Line Loans and to make payments
pursuant to &sect;14.7 are several and not joint. The failure of any Lender to
make any Revolving Credit Loan, to fund any such participation or to make any
payment under &sect;14.7 on any date required hereunder shall not relieve any
other Lender of its corresponding obligation to do so on such date, and no
Lender shall be responsible for the failure of any other Lender to so make its
Revolving Credit Loans, to purchase its participation or to make its payment
under &sect;14.7.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.9.&nbsp;&nbsp;<U>Change in Borrowing Base</U>.</B>&nbsp;&nbsp;The Borrowing
Base shall be determined by the Administrative Agent upon receipt of each Loan
Request and, in any case, no less frequently than monthly (and at such other
intervals as may be specified pursuant to &sect;8.4(f)) by reference to the
Borrowing Base Report most recently delivered to the Lenders and the
Administrative Agent pursuant to &sect;8.4(h) and other information obtained by,
or provided to, the Administrative Agent. The Administrative Agent shall give to
the Borrower written notice of any change in the Borrowing Base determined by
the Administrative Agent. Prior to the time any such notice becomes effective,
the Borrowing Base shall be computed as it would have been computed in the
absence of such notice. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.10.&nbsp;&nbsp;<U>Swing Line Loans</U>.</B> </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.10.1.&nbsp;&nbsp;<U>The Swing Line</U>.</B>&nbsp;&nbsp;Subject to the terms
and conditions set forth herein, the Swing Line Lender agrees, in reliance upon
the agreements of the other Lenders set forth in this &sect;2.10, to make loans
(each such loan, a &#147;<U>Swing Line Loan</U>&#148;) to the Borrower from time
to time on any Business Day from the Closing Date until the Revolving Credit
Loan Maturity Date in an aggregate amount not to exceed at any time outstanding
the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing
Line Loans of the Lender acting as the Swing Line Lender, when aggregated with
such Lender&#146;s Commitment Percentage of the outstanding amount of Revolving
Credit Loans <U>plus</U> such Lender&#146;s Commitment Percentage of the sum of
the Maximum Drawing Amount and all Unpaid Reimbursement Obligations, may exceed
the amount of such Lender&#146;s Commitment; <U>provided</U>, <U>however</U>,
that after giving effect to any Swing Line Loan, (x) the sum of the outstanding
amount of the Revolving Credit Loans, <U>plus</U> the Maximum Drawing Amount and
all Unpaid Reimbursement, Obligations <U>plus</U> the outstanding amount of
Swing Line Loans shall not at any time exceed the lesser of (i) the Total
Commitment at such time and (ii) the Borrowing Base at such time, and (y) the
aggregate outstanding amount of the Revolving Credit Loans of any Lender,
<U>plus</U> such Lender&#146;s Commitment Percentage of the outstanding amount
of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations,
<U>plus</U> such Lender&#146;s Commitment Percentage of the outstanding amount
of all Swing Line Loans shall not exceed such Lender&#146;s Commitment, and
<U>provided</U>, <U>further</U>, that the Borrower shall not use the proceeds of
any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the
foregoing limits, and subject to the other terms and conditions hereof, the
Borrower may borrow under this &sect;2.10, prepay under &sect;3.3, and reborrow
under this &sect;2.10. Each Swing Line Loan shall be a Base Rate Loan.
Immediately upon the making of a Swing Line Loan, each Lender shall be deemed
to, and hereby irrevocably and unconditionally agrees to, purchase from the
Swing Line Lender a risk participation in such Swing Line Loan in an amount
equal to the product of such Lender&#146;s Commitment Percentage <U>times</U>
the amount of such Swing Line Loan. The Borrower hereby promises to repay each
Swing Line Loan on the earlier to occur of (i) the date ten Business Days after
such Swing Line Loan is made and (ii) the Revolving Credit Loan Maturity Date.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.10.2.&nbsp;&nbsp;<U>Borrowing Procedure</U>.</B>&nbsp;&nbsp;Each Swing Line
Borrowing shall be made upon the Borrower&#146;s irrevocable notice to the Swing
Line Lender and the Administrative Agent, which may be given by telephone. Each
such notice must be received by the Swing Line Lender and the Administrative
Agent not later than 1:00 p.m. on the requested borrowing date, and shall
specify (i) the amount to be borrowed, which shall be a minimum of $100,000, and
(ii) the requested borrowing date, which shall be a Business Day. Each such
telephonic notice must be confirmed promptly by delivery to the Swing Line
Lender and the Administrative Agent of a written Swing Line Loan Notice,
appropriately completed and signed by a Responsible Officer of the Borrower.
Promptly after receipt by the Swing Line Lender of any telephonic Swing Line
Loan Notice, the Swing Line Lender will confirm with the Administrative Agent
(by telephone or in writing) that the Administrative Agent has also received
such Swing Line Loan Notice and, if not, the Swing Line Lender will notify the
Administrative Agent (by telephone or in writing) of the contents thereof.
Unless the Swing Line Lender has received notice (by telephone or in writing)
from the Administrative Agent (including at the request of any Lender) prior to
2:00 p.m. on the date of the proposed Swing Line Borrowing (A) directing the
Swing Line Lender not to make such Swing Line Loan as a result of the
limitations set forth in the proviso to the first sentence of &sect;2.10.1, or
(B) that one or more of the applicable conditions specified in &sect;&sect;11
and 12 is not then satisfied, then, subject to the terms and conditions hereof,
the Swing Line Lender will, not later than 3:00 p.m. on the borrowing date
specified in such Swing Line Loan Notice, make the amount of its Swing Line Loan
available to the Borrower. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.10.3.&nbsp;&nbsp;<U>Refinancing of Swing Line Loans</U>.</B>&nbsp;&nbsp;(a)
The Swing Line Lender at any time in its sole and absolute discretion may
request, on behalf of the Borrower (which hereby irrevocably authorizes the
Swing Line Lender to so request on its behalf), that each Lender make a
Revolving Credit Loan which is a Base Rate Loan in an amount equal to such
Lender&#146;s Commitment Percentage of the amount of Swing Line Loans then
outstanding. Such request shall be made in writing (which written request shall
be deemed to be a Loan Request for purposes hereof) and in accordance with the
requirements of &sect;&sect;2.1 and 2.6, without regard to the minimum and
multiples specified therein for the principal amount of Base Rate Loans, but
subject to the unutilized portion of the Total Commitments and the conditions
set forth in &sect;12. The Swing Line Lender shall furnish the Borrower with a
copy of the applicable Loan Request promptly after delivering such notice to the
Administrative Agent. Each Lender shall make an amount equal to its Commitment
Percentage of the amount specified in such Loan Request available to the
Administrative Agent in immediately available funds for the account of the Swing
Line Lender at the Administrative Agent&#146;s Office not later than 1:00 p.m.
on the day specified in such Loan Request, whereupon, subject to
&sect;2.10.3(b), each Lender that so makes funds available shall be deemed to
have made a Base Rate Loan to the Borrower in such amount. The Administrative
Agent shall remit the funds so received to the Swing Line Lender. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If for any reason any Swing Line
Loan cannot be refinanced by such a Committed Borrowing in accordance with
&sect;2.10.3(a), the request for Base Rate Loan submitted by the Swing Line
Lender as set forth herein shall be deemed to be a request by the Swing Line
Lender that each of the Lenders fund its risk participation in the relevant
Swing Line Loan and each Lender&#146;s payment to the Administrative Agent for
the account of the Swing Line Lender pursuant to &sect;2.10.3(a) shall be deemed
payment in respect of such participation. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If any Lender fails to make
available to the Administrative Agent for the account of the Swing Line Lender
any amount required to be paid by such Lender pursuant to the foregoing
provisions of this &sect;2.10.3 by the time specified in &sect;2.10.3(a), the
Swing Line Lender shall be entitled to recover from such Lender (acting through
the Administrative Agent), on demand, such amount with interest thereon for the
period from the date such payment is required to the date on which such payment
is immediately available to the Swing Line Lender at a rate per annum equal to
the greater of the Federal Funds Rate and a rate determined by the Swing Line
Lender in accordance with banking industry rules on interbank compensation. A
certificate of the Swing Line Lender submitted to any Lender (through the
Administrative Agent) with respect to any amounts owing under this clause (c)
shall be conclusive absent manifest error. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each Lender&#146;s obligation to
make Revolving Credit Loans or to purchase and fund risk participations in Swing
Line Loans pursuant to this &sect;2.10.3 shall be absolute and unconditional and
shall not be affected by any circumstance, including (A) any setoff,
counterclaim, recoupment, defense or other right which such Lender may have
against the Swing Line Lender, the Borrower or any other Person for any reason
whatsoever, (B) the occurrence or continuance of a Default or Event of Default,
or (C) any other occurrence, event or condition, whether or not similar to any
of the foregoing; <U>provided</U>, <U>however</U>, that each Lender&#146;s
obligation to make Revolving Credit Loans pursuant to this &sect;2.10.3 is
subject to the conditions set forth in &sect;12. No such funding of risk
participations shall relieve or otherwise impair the obligation of the Borrower
to repay Swing Line Loans, together with interest as provided herein.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.10.4.&nbsp;&nbsp;<U>Repayment of Participations</U>.</B>&nbsp;&nbsp;(a) At
any time after any Lender has purchased and funded a risk participation in a
Swing Line Loan, if the Swing Line Lender receives any payment on account of
such Swing Line Loan, the Swing Line Lender will distribute to such Lender its
Commitment Percentage of such payment (appropriately adjusted, in the case of
interest payments, to reflect the period of time during which such Lender&#146;s
risk participation was funded) in the same funds as those received by the Swing
Line Lender. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If any payment received by the
Swing Line Lender in respect of principal or interest on any Swing Line Loan is
required to be returned by the Swing Line Lender in connection with any
bankruptcy or insolvency proceeding or otherwise (including pursuant to any
settlement entered into by the Swing Line Lender in its discretion), each Lender
shall pay to the Swing Line Lender its Commitment Percentage thereof on demand
of the Administrative Agent, plus interest thereon from the date of such demand
to the date such amount is returned, at a rate per annum equal to the Federal
Funds Rate. The Administrative Agent will make such demand upon the request of
the Swing Line Lender. The obligations of the Lenders under this clause shall
survive the payment in full of the Obligations and the termination of this
Agreement. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.10.5.&nbsp;&nbsp;<U>Interest for Account of Swing Line
Lender</U>.</B>&nbsp;&nbsp;The Swing Line Lender shall be responsible for
invoicing the Borrower for interest on the Swing Line Loans. Until each Lender
funds its Base Rate Loan or risk participation pursuant to this &sect;2.10 to
refinance such Lender&#146;s Commitment Percentage of any Swing Line Loan,
interest in respect of such Commitment Percentage shall be solely for the
account of the Swing Line Lender. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2.10.6.&nbsp;&nbsp;<U>Payments Directly to Swing Line
Lender</U>.</B>&nbsp;&nbsp;The Borrower shall make all payments of principal and
interest in respect of the Swing Line Loans directly to the Swing Line Lender.
</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>3.&nbsp;&nbsp;<U>REPAYMENT OF THE REVOLVING CREDIT
LOANS</U>.</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>3.1.&nbsp;&nbsp;<U>Maturity</U>.</B>&nbsp;&nbsp;The Borrower promises to pay
on the Revolving Credit Loan Maturity Date, and there shall become absolutely
due and payable on the Revolving Credit Loan Maturity Date, all of the Revolving
Credit Loans outstanding on such date, together with any and all accrued and
unpaid interest thereon. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>3.2.&nbsp;&nbsp;<U>Mandatory Repayments of Revolving Credit
Loans</U>.</B>&nbsp;&nbsp;If at any time the sum of the outstanding principal
amount of the Revolving Credit Loans, the Maximum Drawing Amount and all Unpaid
Reimbursement Obligations and the outstanding amount of Swing Line Loans exceeds
the lesser of (a) the Total Commitment at such time and (b) the Borrowing Base
at such time, then the Borrower shall immediately pay the amount of such excess
to the Administrative Agent for the respective accounts of the Lenders for
application: <U>first</U>, to any Unpaid Reimbursement Obligations;
<U>second</U>, to the Swing Line Loans; <U>third</U>, to the Revolving Credit
Loans; and <U>fourth</U>, to provide to the Administrative Agent Cash Collateral
for Reimbursement Obligations as contemplated by &sect;4.2(b) and (c). Each
payment of any Unpaid Reimbursement Obligations or prepayment of Revolving
Credit Loans shall be allocated among the Lenders, in proportion, as nearly as
practicable, to each Reimbursement Obligation or (as the case may be) the
respective unpaid principal amount of each Lender&#146;s Revolving Credit Note,
with adjustments to the extent practicable to equalize any prior payments or
repayments not exactly in proportion. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>3.3.&nbsp;&nbsp;<U>Optional Repayments of Revolving Credit Loans and Swing
Line Loans</U>.</B>&nbsp;&nbsp;(a) The Borrower shall have the right, at its
election, to repay the outstanding amount of the Revolving Credit Loans, as a
whole or in part, at any time without penalty or premium, <U>provided</U> that
any full or partial prepayment of the outstanding amount of any Eurodollar Rate
Loans pursuant to this &sect;3.3 may be made only on the last day of the
Interest Period relating thereto unless breakage costs incurred by the Lenders
in connection therewith are paid by the Borrower in accordance with &sect;5.9.
The Borrower shall give the Administrative Agent, no later than 10:00 a.m.,
Boston time, at least three (3) Business Days&#146; prior written notice of any
proposed prepayment pursuant to this &sect;3.3 of Base Rate Loans, and four (4)
Eurodollar Business Days&#146; prior written notice of any proposed prepayment
pursuant to this &sect;3.3 of Eurodollar Rate Loans, in each case specifying the
proposed date of prepayment of Revolving Credit Loans and the principal amount
to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall
be in a principal amount of at least $200,000, shall be accompanied by the
payment of accrued interest on the principal prepaid to the date of prepayment
and shall be applied, in the absence of instruction by the Borrower, first, to
the principal of Base Rate Loans and then to the principal of Eurodollar Rate
Loans, at the Administrative Agent&#146;s option. Each partial prepayment shall
be allocated among the Lenders, in proportion, as nearly as practicable, to the
respective unpaid principal amount of each Lender&#146;s Revolving Credit Note,
with adjustments to the extent practicable to equalize any prior repayments not
exactly in proportion. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Borrower may, upon notice to
the Swing Line Lender (with a copy to the Administrative Agent), at any time or
from time to time, voluntarily prepay Swing Line Loans in whole or in part
without premium or penalty; <U>provided</U> that (i) such notice must be
received by the Swing Line Lender and the Administrative Agent not later than
1:00 p.m. on the date of the prepayment, and (ii) any such prepayment shall be
in a minimum principal amount of $100,000. Each such notice shall specify the
date and amount of such prepayment. If such notice is given by the Borrower, the
Borrower shall make such prepayment and the payment amount specified in such
notice shall be due and payable on the date specified therein. </FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>4.&nbsp;&nbsp;<U>LETTERS OF CREDIT</U>.</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>4.1.&nbsp;&nbsp;<U>Letter of Credit Commitments</U>.</B> </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>4.1.1.&nbsp;&nbsp;<U>Commitment to Issue Letters of
Credit</U>.</B>&nbsp;&nbsp;(a) Subject to the terms and conditions hereof, upon
the execution and delivery by the Borrower of a letter of credit application on
the L/C Issuer&#146;s customary form (a &#147;<U>Letter of Credit
Application</U>&#148;), the L/C Issuer on behalf of the Lenders and in reliance
upon the agreement of the Lenders set forth in this &sect;4 and upon the
representations and warranties of the Borrower contained herein, agrees, in its
individual capacity, to issue, extend and renew for the account of the Borrower
one or more standby letters of credit (individually, a &#147;<U>Letter of
Credit</U>&#148;), in such form as may be requested from time to time by the
Borrower and agreed to by the L/C Issuer; <U>provided</U>, <U>however</U>, that,
after giving effect to such request, (i) the sum of the aggregate Maximum
Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed the
Letter of Credit Sublimit at any one time and (ii) the sum of (A) the Maximum
Drawing Amount of all Letters of Credit, (B) all Unpaid Reimbursement
Obligations, and (C) the principal amount of all Revolving Credit Loans and
Swing Line Loans outstanding shall not exceed the lesser of (x) the Total
Commitment at such time and (y) the Borrowing Base at such time. Each request by
the Borrower for the issuance or amendment of a Letter of Credit shall be deemed
to be a representation by the Borrower that the issuance or amendment so
requested complies with the conditions set forth in the proviso to the preceding
sentence. Within the foregoing limits, and subject to the terms and conditions
hereof, the Borrower&#146;s ability to obtain Letters of Credit shall be fully
revolving, and accordingly the Borrower may, during the foregoing period, obtain
Letters of Credit to replace Letters of Credit that have expired or that have
been drawn upon and reimbursed. All Existing Letters of Credit shall be deemed
to have been issued pursuant hereto, and from and after the Closing Date shall
be subject to and governed by the terms and conditions hereof.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The L/C Issuer shall not issue any
Letter of Credit, if:
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(i) Subject to &sect;4.1.6, the expiry date of such requested Letter of Credit
would occur more than twelve months after the date of issuance or last
extension, unless the Required Lenders have approved such expiry date; or
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(ii) the expiry date of such requested Letter of Credit would occur after the
Letter of Credit Expiration Date, unless all the Lenders have approved such
expiry date.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The L/C Issuer shall not be under
any obligation to issue any Letter of Credit if:
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(i) any order, judgment or decree of any Governmental Authority or arbitrator
shall by its terms purport to enjoin or restrain the L/C Issuer from issuing
such Letter of Credit, or any Law applicable to the L/C Issuer or any
request or directive (whether or not having the force of law) from any
Governmental Authority with jurisdiction over the L/C Issuer shall prohibit, or
request that the L/C Issuer refrain from, the issuance of letters of credit
generally or such Letter of Credit in particular or shall impose upon the L/C
Issuer with respect to such Letter of Credit any restriction, reserve or capital
requirement (for which the L/C Issuer is not otherwise compensated hereunder)
not in effect on the Closing Date, or shall impose upon the L/C Issuer any
unreimbursed loss, cost or expense which was not applicable on the date hereof
and which the L/C Issuer in good faith deems material to it;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(ii) the issuance of such Letter of Credit would violate one or more policies of
the L/C Issuer;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(iv) such Letter of Credit is to be denominated in a currency other than
Dollars;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(v) such Letter of Credit contains any provisions for automatic reinstatement of
the stated amount after any drawing thereunder; or
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(vi) a default of any Lender&#146;s obligations to fund under &sect;4.1.4 exists
or any Lender is at such time a Delinquent Lender hereunder, unless the L/C
Issuer has entered into satisfactory arrangements with the Borrower or such
Lender to eliminate the L/C Issuer&#146;s risk with respect to such Lender.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The L/C Issuer shall not amend any
Letter of Credit if the L/C Issuer would not be permitted at such time to issue
such Letter of Credit in its amended form under the terms hereof.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The L/C Issuer shall be under no
obligation to amend any Letter of Credit if (A) the L/C Issuer would have no
obligation at such time to issue such Letter of Credit in its amended form under
the terms hereof, or (B) the beneficiary of such Letter of Credit does not
accept the proposed amendment to such Letter of Credit.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The L/C Issuer shall act on behalf
of the Lenders with respect to any Letters of Credit issued by it and the
documents associated therewith, and the L/C Issuer shall have all of the
benefits and immunities (A)&nbsp;provided to the Administrative Agent in
&sect;14 with respect to any acts taken or omissions suffered by the L/C Issuer
in connection with Letters of Credit issued by it or proposed to be issued by it
and Issuer Documents pertaining to such Letters of Credit as fully as if the
term &#147;Administrative Agent&#148; as used in &sect;14 included the L/C
Issuer with respect to such acts or omissions, and (B) as additionally provided
herein with respect to the L/C Issuer.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>4.1.2.&nbsp;&nbsp;<U>Procedures for the Issuance and Amendment of Letters of
Credit</U>.</B>&nbsp;&nbsp;(a) Each Letter of Credit shall be issued or amended,
as the case may be, upon the request of the Borrower delivered to the L/C Issuer
(with a copy to the Administrative Agent) in the form of Letter of Credit
Application, appropriately completed and signed by a Responsible Officer of the
Borrower. Such Letter of Credit Application must be received by the L/C Issuer
and the Administrative Agent not later than 11:00 a.m. at least two Business
Days (or such later date and time as the Administrative Agent and the L/C Issuer
may agree in a particular instance in their sole discretion) prior to the
proposed issuance date or date of amendment, as the case may be. In the case of
a request for an initial issuance of a Letter of Credit, such Letter of Credit
Application shall specify in form and detail satisfactory to the L/C Issuer: (A)
the proposed issuance date of the requested Letter of Credit (which shall be a
Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name
and address of the beneficiary thereof; (E) the documents to be presented by
such beneficiary in case of any drawing thereunder; (F) the full text of any
certificate to be presented by such beneficiary in case of any drawing
thereunder; and (G) such other matters as the L/C Issuer may require. In the
case of a request for an amendment of any outstanding Letter of Credit, such
Letter of Credit Application shall specify in form and detail satisfactory to
the L/C Issuer (A) the Letter of Credit to be amended; (B) the proposed date of
amendment thereof (which shall be a Business Day); (C) the nature of the
proposed amendment; and (D) such other matters as the L/C Issuer may require.
Additionally, the Borrower shall furnish to the L/C Issuer and the
Administrative Agent such other documents and information pertaining to such
requested Letter of Credit issuance or amendment, including any Issuer
Documents, as the L/C Issuer or the Administrative Agent may require.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Promptly after receipt of any
Letter of Credit Application, the L/C Issuer will confirm with the
Administrative Agent (by telephone or in writing) that the Administrative Agent
has received a copy of such Letter of Credit Application from the Borrower and,
if not, the L/C Issuer will provide the Administrative Agent with a copy
thereof. Unless the L/C Issuer has received written notice from any Lender, the
Administrative Agent, the Borrower or any Guarantor, at least one Business Day
prior to the requested date of issuance or amendment of the applicable Letter of
Credit, that one or more applicable conditions contained in &sect;&sect;11 or 12
shall not then be satisfied, then, subject to the terms and conditions hereof,
the L/C Issuer shall, on the requested date, issue a Letter of Credit for the
account of the Borrower or enter into the applicable amendment, as the case may
be, in each case in accordance with the L/C Issuer&#146;s usual and customary
business practices. Immediately upon the issuance of each Letter of Credit, each
Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to,
purchase from the L/C Issuer a risk participation in such Letter of Credit in an
amount equal to the product of such Lender&#146;s Commitment Percentage
<U>times</U> the amount of such Letter of Credit.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Promptly after its delivery of any
Letter of Credit or any amendment to a Letter of Credit to an advising bank with
respect thereto or to the beneficiary thereof, the L/C Issuer will also deliver
to the Borrower and the Administrative Agent a true and complete copy of such
Letter of Credit or amendment.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>4.1.3.&nbsp;&nbsp;<U>Applicability of the ISP and Uniform
Customs</U>.</B>&nbsp;&nbsp;Unless otherwise expressly agreed by the L/C Issuer
and the Borrower when a Letter of Credit is issued (including any such agreement
applicable to an Existing Letter of Credit), (i) the rules of the
&#147;International Standby Practices 1998&#148; (ISP) published by the
Institute of International Banking Law &amp; Practice (or such later version
thereof as may be in effect at the time of issuance) shall apply to each standby
Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for
Documentary Credits, as most recently published by the International Chamber of
Commerce at the time of issuance shall apply to each commercial Letter of
Credit.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>4.1.4.&nbsp;&nbsp;<U>Reimbursement Obligations of
Lenders</U>.</B>&nbsp;&nbsp;Each Lender severally agrees that it shall be
absolutely and unconditionally liable, without regard to the occurrence of any
Default or Event of Default or any other condition precedent or circumstance
whatsoever, including (A) any setoff, counterclaim, recoupment, defense or other
right which such Lender may have against the L/C Issuer, the Borrower or any
other Person for any reason whatsoever or (B) any other occurrence, event or
condition, whether or not similar to any of the foregoing, to the extent of such
Lender&#146;s Commitment Percentage, to reimburse the L/C Issuer through the
Administrative Agent on demand for the amount of each draft paid by the L/C
Issuer under each Letter of Credit to the extent that such amount is not
reimbursed by the Borrower pursuant to &sect;4.2 (such agreement for a Lender
being called herein the &#147;<U>Letter of Credit Participation</U>&#148; of
such Lender).
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>4.1.5.&nbsp;&nbsp;<U>Participations of Lenders</U>.</B>&nbsp;&nbsp;Each such
payment made by a Lender shall be treated as the purchase by such Lender of a
participating interest in the Borrower&#146;s Reimbursement Obligation under
&sect;4.2 in an amount equal to such payment. Each Lender shall share in
accordance with its participating interest in any interest which accrues
pursuant to &sect;4.2 and in any applicable security for such Reimbursement
Obligation.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>4.1.6.&nbsp;&nbsp;<U>Auto-Extension Letters of Credit</U>.</B>&nbsp;&nbsp;If
the Borrower so requests in any applicable Letter of Credit Application, the L/C
Issuer may, in its sole and absolute discretion, agree to issue a Letter of
Credit that has automatic extension provisions (each, an &#147;<U>Auto-Extension
Letter of Credit</U>&#148;); <U>provided</U> that (i) any such Auto-Extension
Letter of Credit must permit the L/C Issuer to prevent any such extension at
least once in each twelve-month period (commencing with the date of issuance of
such Letter of Credit) by giving prior notice to the beneficiary thereof not
later than on the date (the &#147;<U>Non-Extension Notice Date</U>&#148;) in
each such twelve-month period as agreed upon at the time such Letter of Credit
is issued and (ii) any extension of a Auto-Extension Letter of Credit shall not
extend the expiry date of such Letter of Credit to a date later than the Letter
of Credit Expiration Date. Unless otherwise directed by the L/C Issuer, the
Borrower shall not be required to make a specific request to the L/C Issuer for
any such extension. Once an Auto-Extension Letter of Credit has been issued, the
Lenders shall be deemed to have authorized (but may not require) the L/C Issuer
to permit the extension of such Letter of Credit at any time to an expiry date
not later than the Letter of Credit Expiration Date; <U>provided</U>,
<U>however</U>, that the L/C Issuer shall not permit any such extension if (A)
the L/C Issuer has determined that it would not be permitted, or would have no
obligation, at such time to issue such Letter of Credit in its revised form (as
extended) under the terms hereof (by reason of the provisions of &sect;4.1.1(b)
or (c) or otherwise), or (B) it has received notice (which may be by telephone
or in writing) on or before the day that is five Business Days before the
Non-Extension Notice Date (1) from the Administrative Agent that the Required
Lenders have elected not to permit such extension or (2) from the Administrative
Agent, any Lender, the Borrower or any Guarantor that one or more of the
applicable conditions specified in &sect;12 is not then satisfied, and in each
such case directing the L/C Issuer not to permit such extension.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>4.2.&nbsp;&nbsp;<U>Reimbursement Obligation of the
Borrower</U>.</B>&nbsp;&nbsp;In order to induce the L/C Issuer to issue, extend
and renew each Letter of Credit and the Lenders to participate therein, the
Borrower hereby agrees to reimburse or pay to the L/C Issuer, for the account of
the L/C Issuer or (as the case may be) the Lenders, with respect to each Letter
of Credit issued, extended or amended by the L/C Issuer hereunder, </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; except as otherwise expressly
provided in &sect;4.2(b) and (c), not later than 11:00 a.m. (Boston time) on
each date that any draft presented under such Letter of Credit is honored (the
&#147;<U>Honor Date</U>&#148;) by the L/C Issuer, or the L/C Issuer otherwise
makes a payment with respect thereto, (i) the amount paid by the L/C Issuer
under or with respect to such Letter of Credit, and (ii) the amount of any
taxes, fees, charges or other costs and expenses whatsoever incurred by the L/C
Issuer or any Lender in connection with any payment made by the L/C Issuer or
any Lender under, or with respect to, such Letter of Credit,
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; upon the reduction (but not
termination) of the Total Commitment to an amount less than the Maximum Drawing
Amount, an amount equal to such difference, which amount shall be held by the
Administrative Agent for the benefit of the Lenders and the L/C Issuer as Cash
Collateral for all Reimbursement Obligations, and
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; upon the termination of the Total
Commitment, or the acceleration of the Reimbursement Obligations with respect to
all Letters of Credit in accordance with &sect;13, an amount equal to the then
Maximum Drawing Amount on all Letters of Credit, which amount shall be held by
the Administrative Agent for the benefit of the Lenders and the L/C Issuer as
Cash Collateral for all Reimbursement Obligations.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each such payment shall be made to the L/C Issuer at the Administrative
Agent&#146;s Office in immediately available funds. Interest on any and all
amounts remaining unpaid by the Borrower under this &sect;4.2 at any time from
the date such amounts become due and payable (whether as stated in this
&sect;4.2, by acceleration or otherwise) until payment in full (whether before
or after judgment) shall be payable to the Administrative Agent, for the benefit
of the Lenders and the L/C Issuer, on demand at the rate specified in &sect;5.10
for overdue principal on the Revolving Credit Loans. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>4.3.&nbsp;&nbsp;<U>Letter of Credit Payments</U>.</B>&nbsp;&nbsp;(a) If any
draft shall be presented or other demand for payment shall be made under any
Letter of Credit, the L/C Issuer shall notify the Administrative Agent and the
Borrower of the date and amount of the draft presented or demand for payment and
of the date and time when it expects to pay such draft or honor such demand for
payment. If the Borrower fails to reimburse the L/C Issuer as provided in
&sect;4.2 on or before the date that such draft is paid or other payment is made
by the L/C Issuer, the Administrative Agent may at any time thereafter notify
the Lenders of the amount of any such Unpaid Reimbursement Obligation and the
amount of each Lender&#146;s Commitment Percentage thereof. In such event, the
Borrower shall be deemed to have requested a Base Rate Loan to be disbursed on
the Honor Date in an amount equal to the Unpaid Reimbursement Obligation,
without regard to the minimum and multiples specified in &sect;2.6 for the
principal amount of Base Rate Loans, but subject to the other conditions set
forth in &sect;&sect;2.1, 2.6 and 12 (other than the delivery of a Loan
Request). Any notice given by the L/C Issuer or the Administrative Agent
pursuant to this &sect;4.3 may be given by telephone if immediately confirmed in
writing; <U>provided</U> that the lack of such an immediate confirmation shall
not affect the conclusiveness or binding effect of such notice. Each Lender
shall upon any notice pursuant to &sect;4.3 make funds available to the
Administrative Agent for the account of the L/C Issuer at the Administrative
Agent&#146;s Office in an amount equal to its Commitment Percentage of the
Unpaid Reimbursement Obligation not later than 1:00 p.m. on the Business Day
specified in such notice by the Administrative Agent, whereupon, subject to the
provisions of &sect;4.3(b), each Lender that so makes funds available shall be
deemed to have made a Base Rate Loan to the Borrower in such amount. The
Administrative Agent shall remit the funds so received to the L/C Issuer.
</FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to any Unpaid
Reimbursement Obligation that is not fully refinanced by Base Rate Loans because
the conditions set forth in &sect;12 cannot be satisfied or for any other
reason, the Borrower shall be deemed to have incurred from the L/C Issuer an L/C
Borrowing in the amount of the Unpaid Reimbursement Obligation that is not so
refinanced, which L/C Borrowing shall be due and payable on demand (together
with interest) and shall bear interest at the rate set forth in &sect;5.10.1. In
such event, each Lender&#146;s payment to the Administrative Agent for the
account of the L/C Issuer pursuant to &sect;4.3(a) shall be deemed payment in
respect of its participation in such L/C Borrowing and shall constitute an L/C
Advance from such Lender in satisfaction of its participation obligation under
this &sect;4.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Until each Lender funds its
Commitment Percentage of the Loans or participations as set forth in this
&sect;4.3 to reimburse the L/C Issuer for any amount drawn under any Letter of
Credit, interest in respect of such Lender&#146;s Commitment Percentage of such
amount shall be solely for the account of the L/C Issuer.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If any Lender fails to make
available to the Administrative Agent for the account of the L/C Issuer any
amount required to be paid by such Lender pursuant to the foregoing provisions
of this &sect;4.3 by the time specified in &sect;4.3, the applicable L/C Issuer
shall be entitled to recover from such Lender (acting through the Administrative
Agent), on demand, such amount with interest thereon for the period from the
date such payment is required to the date on which such payment is immediately
available to the L/C Issuer at a rate per annum equal to the greater of the
Federal Funds Rate and a rate determined by the L/C Issuer in accordance with
banking industry rules on interbank compensation. A certificate of the L/C
Issuer submitted to any Lender (through the Administrative Agent) with respect
to any amounts owing under this clause (vi) shall be conclusive absent manifest
error.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At any time after the L/C Issuer
has made a payment under any Letter of Credit and has received from any Lender
such Lender&#146;s L/C Advance in respect of such payment in accordance with
&sect;4.3, if the Administrative Agent receives for the account of the L/C
Issuer any payment in respect of the related Unreimbursed Amount or interest
thereon (whether directly from the Borrower or otherwise, including proceeds of
Cash Collateral applied thereto by the Administrative Agent), the Administrative
Agent will distribute to such Lender its Commitment Percentage thereof
(appropriately adjusted, in the case of interest payments, to reflect the period
of time during which such Lender&#146;s L/C Advance was outstanding) in the same
funds as those received by the Administrative Agent. If any payment received by
the Administrative Agent for the account of the L/C Issuer pursuant to &sect;4.3
is required to be returned in connection with any bankruptcy or insolvency
proceeding or otherwise (including pursuant to any settlement entered into by
the L/C Issuer in its discretion), each Lender shall pay to the Administrative
Agent for the account of the L/C Issuer its Commitment Percentage thereof on
demand of the Administrative Agent, plus interest thereon from the date of such
demand to the date such amount is returned by such Lender, at a rate per annum
equal to the Federal Funds Rate from time to time in effect. The obligations of
the Lenders under this clause shall survive the payment in full of the
Obligations and the termination of this Agreement.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>4.4.&nbsp;&nbsp;<U>Obligations Absolute</U>.</B>&nbsp;&nbsp;The
Borrower&#146;s obligations under this &sect;4 shall be absolute, irrevocable
and unconditional under any and all circumstances and irrespective of the
occurrence of any Default or Event of Default or any condition precedent
whatsoever or any setoff, counterclaim or defense to payment which the Borrower
may have or have had against the L/C Issuer, the Administrative Agent, any
Lender or any beneficiary of a Letter of Credit. The Borrower further agrees
with the L/C Issuer, the Administrative Agent and the Lenders that the L/C
Issuer, the Administrative Agent and the Lenders shall not be responsible for,
and the Borrower&#146;s Reimbursement Obligations under &sect;4.2 shall not be
affected by, among other things, the validity or genuineness of documents or of
any endorsements thereon, even if such documents should in fact prove to be in
any or all respects invalid, fraudulent or forged, or any dispute between or
among the Borrower, the beneficiary of any Letter of Credit or any financing
institution or other party to which any Letter of Credit may be transferred or
any claims or defenses whatsoever of the Borrower against the beneficiary of any
Letter of Credit or any such transferee. The L/C Issuer, the Administrative
Agent and the Lenders shall not be liable for any error, omission, interruption
or delay in transmission, dispatch or delivery of any message or advice, however
transmitted, in connection with any Letter of Credit. The Borrower agrees that
any action taken or omitted by the L/C Issuer, the Administrative Agent or any
Lender under or in connection with each Letter of Credit and the related drafts
and documents, if done in good faith and in the absence of gross negligence or
willful misconduct, shall be binding upon the Borrower and shall not result in
any liability on the part of the L/C Issuer, the Administrative Agent or any
Lender to the Borrower. The Borrower shall promptly examine a copy of each
Letter of Credit and each amendment thereto that is delivered to it and, in the
event of any claim of noncompliance with the Borrower&#146;s instructions or
other irregularity, the Borrower will immediately notify the L/C Issuer. The
Borrower shall be conclusively deemed to have waived any such claim against the
L/C Issuer and its correspondents unless such notice is given as aforesaid.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>4.5.&nbsp;&nbsp;<U>Role of Issuer</U>.</B>&nbsp;&nbsp;Each Lender and the
Borrower agree that, in paying any drawing under a Letter of Credit, the L/C
Issuer shall not have any responsibility to obtain any document (other than any
sight draft, certificates and documents expressly required by the Letter of
Credit) or to ascertain or inquire as to the validity or accuracy of any such
document or the authority of the Person executing or delivering any such
document. None of the L/C Issuer, the Administrative Agent, any of their
respective Related Parties nor any correspondent, participant or assignee of the
L/C Issuer shall be liable to any Lender for (i) any action taken or omitted in
connection herewith at the request or with the approval of the Lenders or the
Required Lenders, as applicable; (ii) any action taken or omitted in the absence
of gross negligence or willful misconduct; or (iii) the due execution,
effectiveness, validity or enforceability of any document or instrument related
to any Letter of Credit or Issuer Document. The Borrower hereby assumes all
risks of the acts or omissions of any beneficiary or transferee with respect to
its use of any Letter of Credit; <U>provided</U>, <U>however</U>, that this
assumption is not intended to, and shall not, preclude the Borrower&#146;s
pursuing such rights and remedies as it may have against the beneficiary or
transferee at law or under any other agreement. None of the L/C Issuer, the
Administrative Agent, any of their respective Related Parties nor any
correspondent, participant or assignee of the L/C Issuer shall be liable or
responsible for any of the matters described in &sect;4.4; <U>provided</U>,
<U>however</U>, that anything in such clauses to the contrary notwithstanding, the
Borrower may have a claim against the L/C Issuer, and the L/C Issuer may be liable to the
Borrower, to the extent, but only to the extent, of any direct, as opposed to
consequential or exemplary, damages suffered by the Borrower which the Borrower proves
were caused by the L/C Issuer&#146;s willful misconduct or gross negligence or the L/C
Issuer&#146;s willful failure to pay under any Letter of Credit after the presentation to
it by the beneficiary of a sight draft and certificate(s) strictly complying with the
terms and conditions of a Letter of Credit. In furtherance and not in limitation of the
foregoing, the L/C Issuer may accept documents that appear on their face to be in order,
without responsibility for further investigation, regardless of any notice or information
to the contrary, and the L/C Issuer shall not be responsible for the validity or
sufficiency of any instrument transferring or assigning or purporting to transfer or
assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in
whole or in part, which may prove to be invalid or ineffective for any reason. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>4.6.&nbsp;&nbsp;<U>Letter of Credit Fees</U>.</B>&nbsp;&nbsp;The Borrower
agrees to pay to the Administrative Agent in respect of each Letter of Credit
the following fees (each, a &#147;<U>Letter of Credit Fee</U>&#148;) computed
for the period from and including the date of issuance, extension or amendment
of such Letter of Credit to the expiry date of such Letter of Credit equal to
the Applicable Margin per annum with respect to Letter of Credit Fees of the
maximum amount available to be drawn under such Letter of Credit, which shall be
for the accounts of the Lenders in accordance with their respective Commitment
Percentages. Such Letter of Credit Fees shall be payable quarterly in arrears on
the first Business Day of each calendar quarter (or portion thereof) for the
immediately preceding calendar quarter and on the Revolving Credit Loan Maturity
Date. In addition, the Borrower agrees to pay a fronting fee at the rate per
annum specified in the Fee Letter of the maximum amount available to be drawn
under such Letter of Credit, which shall be for the account of the L/C Issuer
and which shall be payable quarterly in arrears on the first Business Day of
each calendar quarter (or portion thereof) for the immediately preceding
calendar quarter and on the Revolving Credit Loan Maturity Date. In respect of
each Letter of Credit, the Borrower shall also pay to the L/C Issuer for the L/C
Issuer&#146;s own account, at such other time or times as such charges are
customarily made by the L/C Issuer, the L/C Issuer&#146;s customary issuance,
amendment, negotiation or document examination and other administrative fees as
in effect from time to time. Such customary fees and standard costs and charges
are due and payable on demand and are nonrefundable. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>4.7.&nbsp;&nbsp;<U>Cash Collateral</U>.</B>&nbsp;&nbsp;Upon the request of
the Administrative Agent, (i) if the L/C Issuer has honored any full or partial
drawing request under any Letter of Credit and such drawing has resulted in an
L/C Borrowing, or (ii) if, as of the Letter of Credit Expiration Date, any L/C
Obligation for any reason remains outstanding, the Borrower shall, in each case,
immediately Cash Collateralize the then Maximum Drawing Amount and any Unpaid
Reimbursement Obligations. <U>Sections 3.2, 4.2(b), 4.2(c) and 4.3(e)</U> set
forth certain additional requirements to deliver Cash Collateral hereunder. For
purposes of this &sect;4.7 and &sect;&sect;3.2, 4.2(b), 4.2(c) and 4.3(e),
&#147;<U>Cash Collateralize</U>&#148; means to pledge and deposit with or
deliver to the Administrative Agent, for the benefit of the L/C Issuer and the
Lenders, as collateral for the Maximum Drawing Amount and any Unpaid
Reimbursement Obligations, cash or deposit account balances pursuant to
documentation in form and substance satisfactory to the Administrative Agent and
the L/C Issuer (which documents are hereby consented to by the Lenders).
Derivatives of such term have corresponding meanings. The Borrower hereby grants
to the Administrative Agent, for the benefit of the L/C Issuer and the Lenders,
a security interest in all such cash, deposit accounts and all balances therein
and all proceeds of the foregoing. Cash Collateral shall be maintained in
blocked, non-interest bearing deposit accounts at Bank of America. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>4.8.&nbsp;&nbsp;<U>Conflict with Issuer Documents</U>.</B>&nbsp;&nbsp;In the
event of any conflict between the terms hereof and the terms of any Issuer
Document, the terms hereof shall control. </FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>5.&nbsp;&nbsp;<U>CERTAIN GENERAL PROVISIONS</U>.</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>5.1.&nbsp;&nbsp;<U>Fees</U></B><U></U>.&nbsp;&nbsp;&nbsp;The Borrower agrees
to pay the fees in the amounts and on the terms and conditions set forth in the
Fee Letter. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>5.2.&nbsp;&nbsp;<U>Funds for Payments</U>.</B> </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>5.2.1.&nbsp;&nbsp;<U>Payments to Administrative Agent</U>.</B>&nbsp;&nbsp;All
payments of principal, interest, Reimbursement Obligations, fees and any other
amounts due hereunder or under any of the other Loan Documents shall be made on
the due date thereof to the Administrative Agent in Dollars, for the respective
accounts of the Lenders and/or the Administrative Agent, the L/C Issuer or the
Swing Line Lender, as the case may be, at the Administrative Agent&#146;s Office
or at such other place that the Administrative Agent may from time to time
designate, in each case at or about 11:00 a.m. (Boston, Massachusetts, time or
other local time at the place of payment) and in immediately available funds.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>5.2.2.&nbsp;&nbsp;<U>No Offset, etc.</U></B>&nbsp;&nbsp;All payments by the
Borrower hereunder and under any of the other Loan Documents shall be made
without recoupment, setoff or counterclaim and free and clear of and without
deduction for any taxes, levies, imposts, duties, charges, fees, deductions,
withholdings, compulsory loans, restrictions or conditions of any nature now or
hereafter imposed or levied by any jurisdiction or any political subdivision
thereof or taxing or other authority therein unless the Borrower is compelled by
law to make such deduction or withholding. If any such obligation is imposed
upon the Borrower with respect to any amount payable by it hereunder or under
any of the other Loan Documents, the Borrower will pay to the Administrative
Agent, for the account of the Lenders or (as the case may be) the Administrative
Agent, on the date on which such amount is due and payable hereunder or under
such other Loan Document, such additional amount in Dollars as shall be
necessary to enable the Lenders or the Administrative Agent to receive the same
net amount which the Lenders or the Administrative Agent would have received on
such due date had no such obligation been imposed upon the Borrower. The
Borrower will deliver promptly to the Administrative Agent certificates or other
valid vouchers for all taxes or other charges deducted from or paid with respect
to payments made by the Borrower hereunder or under such other Loan Document.
Each Lender claiming any additional amounts payable under this &sect;5.2.2
agrees to use reasonable efforts (consistent with legal and regulatory
restrictions) to execute and deliver all such documents and instruments as the
Borrower shall reasonably request or to change the jurisdiction of its
applicable lending office if the execution of such documents or the making of
such a change would avoid the need for or substantially reduce the amount of
additional amounts which would thereafter accrue and would not, in the sole and
absolute determination of such Lender, be otherwise disadvantageous to such
Lender, which determination by such Lender shall be conclusive. The Borrower
shall not be liable for taxes paid by the Administrative Agent or any Lender
that are based upon the Administrative Agent&#146;s or such Lender&#146;s net
income or for any withholdings required to be made pursuant to applicable law
that are credited against taxes based on the Administrative Agent&#146;s or such
Lender&#146;s net income.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>5.2.3.&nbsp;&nbsp;<U>Non-U.S. Lenders.</U></B>&nbsp;&nbsp;Each Lender and the
Administrative Agent that is not a U.S. Person as defined in Section 7701(a)(30)
of the Code for federal income tax purposes (a &#147;<U>Non-U.S.
Lender</U>&#148;) hereby agrees that, if and to the extent it is legally able to
do so, it shall, prior to the date of the first payment by the Borrower
hereunder to be made to such Lender or the Administrative Agent or for such
Lender&#146;s or the Administrative Agent&#146;s account, deliver to the
Borrower and the Administrative Agent, as applicable, such certificates,
documents or other evidence, as and when required by the Code or Treasury
Regulations issued pursuant thereto, including (a) in the case of a Non-U.S.
Lender that is a &#147;bank&#148; for purposes of Section 881(c)(3)(A) of the
Code, two (2) duly completed copies of Internal Revenue Service Form W-8BEN or
Form W-8ECI and any other certificate or statement of exemption required by
Treasury Regulations, or any subsequent versions thereof or successors thereto,
properly completed and duly executed by such Lender or the Administrative Agent
establishing that with respect to payments of principal, interest or fees
hereunder it is (i) not subject to United States federal withholding tax under
the Code because such payment is effectively connected with the conduct by such
Lender or Administrative Agent of a trade or business in the United States or
(ii) totally exempt or partially exempt from United States federal withholding
tax under a provision of an applicable tax treaty and (b) in the case of a
Non-U.S. Lender that is not a &#147;bank&#148; for purposes of
Section&nbsp;881(c)(3)(A) of the Code, a certificate in form and substance
reasonably satisfactory to the Administrative Agent and the Borrower and to the
effect that (i)&nbsp;such Non-U.S. Lender is not a &#147;bank&#148; for purposes
of Section 881(c)(3)(A) of the Code, is not subject to regulatory or other legal
requirements as a bank in any jurisdiction, and has not been treated as a bank
for purposes of any tax, securities law or other filing or submission made to
any governmental authority, any application made to a rating agency or
qualification for any exemption from any tax, securities law or other legal
requirements, (ii)&nbsp;is not a ten (10) percent shareholder for purposes of
Section 881(c)(3)(B) of the Code and (iii)&nbsp;is not a controlled foreign
corporation receiving interest from a related person for purposes of Section
881(c)(3)(C) of the Code, together with a properly completed Internal Revenue
Service Form W-8 or W-9, as applicable (or successor forms). Each Lender or the
Administrative Agent agrees that it shall, promptly upon a change of its lending
office or the selection of any additional lending office, to the extent the
forms previously delivered by it pursuant to this section are no longer
effective, and promptly upon the Borrower&#146;s or the Administrative
Agent&#146;s reasonable request after the occurrence of any other event
(including the passage of time) requiring the delivery of a Form W-8BEN, Form
W-8ECI, Form W-8 or W-9 in addition to or in replacement of the forms previously
delivered, deliver to the Borrower and the Administrative Agent, as applicable,
if and to the extent it is properly entitled to do so, a properly completed and
executed Form W-8BEN, Form W-8ECI, Form W-8 or W-9, as applicable (or any
successor forms thereto).
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>5.3.&nbsp;&nbsp;<U>Computations</U>.</B>&nbsp;&nbsp;All computations of
interest for Base Rate Loans and Swing Line Loans when the Base Rate is
determined by Bank of America&#146;s &#147;prime rate&#148; shall be made on the
basis of a year of 365 or 366 days, as the case may be, and actual days elapsed.
All other computations of fees and interest shall be made on the basis of a
360-day year and actual days elapsed (which results in more fees or interest, as
applicable, being paid than if computed on the basis of a 365-day year). Except
as otherwise provided in the definition of the term &#147;<U>Interest
Period</U>&#148; with respect to Eurodollar Rate Loans, whenever a payment
hereunder or under any of the other Loan Documents becomes due on a day that is
not a Business Day, the due date for such payment shall be extended to the next
succeeding Business Day, and interest shall accrue during such extension. The
outstanding amount of the Revolving Credit Loans as reflected on the Revolving
Credit Note Records from time to time shall be considered correct and binding on
the Borrower unless within five (5) Business Days after receipt of any notice by
the Administrative Agent or any of the Lenders of such outstanding amount, the
Administrative Agent or such Lender shall notify the Borrower to the contrary.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>5.4.&nbsp;&nbsp;<U>Inability to Determine Eurodollar
Rate</U>.</B>&nbsp;&nbsp;In the event, prior to the commencement of any Interest
Period relating to any Eurodollar Rate Loan, the Administrative Agent shall
reasonably determine or be notified by the Required Lenders that (a) adequate
and reasonable methods do not exist for ascertaining the Eurodollar Rate that
would otherwise determine the rate of interest to be applicable to any
Eurodollar Rate Loan during any Interest Period or (b) the Eurodollar Rate
determined or to be determined for such Interest Period will not adequately and
fairly reflect the cost to the Lenders of making or maintaining their Eurodollar
Rate Loans during such period, the Administrative Agent shall forthwith give
notice of such determination (which shall be conclusive and binding on the
Borrower and the Lenders) to the Borrower and the Lenders. In such event (i) any
Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall
be automatically withdrawn and shall be deemed a request for Base Rate Loans,
(ii) each Eurodollar Rate Loan will automatically, on the last day of the then
current Interest Period relating thereto, become a Base Rate Loan, and (iii) the
obligations of the Lenders to make Eurodollar Rate Loans shall be suspended
until the Administrative Agent determines that the circumstances giving rise to
such suspension no longer exist, whereupon the Administrative Agent shall so
notify the Borrower and the Lenders. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>5.5.&nbsp;&nbsp;<U>Illegality</U>.</B>&nbsp;&nbsp;Notwithstanding any other
provisions herein, if any present or future law, regulation, treaty or directive
or the interpretation or application thereof shall make it unlawful for any
Lender to make or maintain Eurodollar Rate Loans, such Lender shall forthwith
give notice of such circumstances to the Borrower and the other Lenders and
thereupon (a) the commitment of such Lender to make Eurodollar Rate Loans or
convert Base Rate Loans to Eurodollar Rate Loans shall forthwith be suspended
and (b) such Lender&#146;s Revolving Credit Loans then outstanding as Eurodollar
Rate Loans, if any, shall be converted automatically to Base Rate Loans on the
last day of each Interest Period applicable to such Eurodollar Rate Loans or
within such earlier period as may be required by law. The Borrower hereby agrees
promptly to pay the Administrative Agent for the account of such Lender, upon
demand by such Lender, any additional amounts necessary to compensate such
Lender for any costs incurred by such Lender in making any conversion in
accordance with this &sect;5.5, including any interest or fees payable by such
Lender to lenders of funds obtained by it in order to make or maintain its
Eurodollar Rate Loans hereunder. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>5.6.&nbsp;&nbsp;<U>Additional Costs, etc</U>.</B>&nbsp;&nbsp;If any present
or future applicable law, which expression, as used herein, includes statutes,
rules and regulations thereunder and interpretations thereof by any competent
court or by any governmental or other regulatory body or official charged with
the administration or the interpretation thereof and requests, directives,
instructions and notices at any time or from time to time hereafter made upon or
otherwise issued to any Lender or the Administrative Agent by any central bank
or other fiscal, monetary or other authority (whether or not having the force of
law), shall: </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; subject any Lender or the
Administrative Agent to any tax, levy, impost, duty, charge, fee, deduction or
withholding of any nature with respect to this Credit Agreement, the other Loan
Documents, any Letters of Credit, such Lender&#146;s Commitment or the Revolving
Credit Loans (other than taxes based upon or measured by the income or profits
of such Lender or the Administrative Agent or withholdings in connection with
such taxes), or
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; materially change the basis of
taxation (except for changes in taxes on income or profits) of payments to any
Lender of the principal of or the interest on any Revolving Credit Loans, Swing
Line Loans or any other amounts payable to any Lender or the Administrative
Agent under this Credit Agreement or any of the other Loan Documents, or
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; impose or increase or render
applicable (other than to the extent specifically provided for elsewhere in this
Credit Agreement) any special deposit, reserve (other than reserves included
within the definition of Eurocurrency Reserve Rate), assessment, liquidity,
capital adequacy or other similar requirements (whether or not having the force
of law) against assets held by, or deposits in or for the account of, or loans
by, or letters of credit issued by, or commitments of an office of any Lender,
or
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; impose on any Lender or the
Administrative Agent any other conditions or requirements with respect to this
Credit Agreement, the other Loan Documents, any Letters of Credit, the Swing
Line Loans, the Revolving Credit Loans, such Lender&#146;s Commitment, or any
class of loans, letters of credit or commitments of which any of the Revolving
Credit Loans or such Lender&#146;s Commitment forms a part, and the result of
any of the foregoing is
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to increase the cost to any Lender
of making, funding, issuing, renewing, extending or maintaining any of the
Revolving Credit Loans, Swing Line Loans or such Lender&#146;s Commitment or any
Letter of Credit, or
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to reduce the amount of
principal, interest, Reimbursement Obligation or other amount payable to such
Lender or the Administrative Agent hereunder on account of such Lender&#146;s
Commitment, any Letter of Credit, any of the Swing Line Loans or any of the
Revolving Credit Loans, or
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="First Line Indent 1.0", 0.5"" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to require such Lender or the
Administrative Agent to make any payment or to forego any interest or
Reimbursement Obligation or other sum payable hereunder, the amount of which
payment or foregone interest or Reimbursement Obligation or other sum is
calculated by reference to the gross amount of any sum receivable or deemed
received by such Lender or the Administrative Agent from the Borrower hereunder,
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
then, and in each such case, the Borrower will, upon demand made by such Lender
or (as the case may be) the Administrative Agent at any time and from time to
time and as often as the occasion therefor may arise, pay to such Lender or the
Administrative Agent such additional amounts as will be sufficient to compensate
such Lender or the Administrative Agent for such additional cost, reduction,
payment or foregone interest or Reimbursement Obligation or other sum.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>5.7.&nbsp;&nbsp;<U>Capital Adequacy</U>.</B>&nbsp;&nbsp;If after the date
hereof any Lender or the Administrative Agent determines that (a) the adoption
of or change in any law, governmental rule, regulation, policy, guideline or
directive (whether or not having the force of law) regarding capital
requirements for Lenders or Lender holding companies or any change in the
interpretation or application thereof by a Governmental Authority with
appropriate jurisdiction, or (b) compliance by such Lender or the Administrative
Agent or any corporation controlling such Lender or the Administrative Agent
with any law, governmental rule, regulation, policy, guideline or directive
(whether or not having the force of law) of any such entity regarding capital
adequacy, has the effect of reducing the return on such Lender&#146;s or the
Administrative Agent&#146;s commitment with respect to any Revolving Credit
Loans to a level below that which such Lender or the Administrative Agent could
have achieved but for such adoption, change or compliance (taking into
consideration such Lender&#146;s or the Administrative Agent&#146;s then
existing policies with respect to capital adequacy and assuming full utilization
of such entity&#146;s capital) by any amount deemed by such Lender or (as the
case may be) the Administrative Agent to be material, then such Lender or the
Administrative Agent may notify the Borrower of such fact. To the extent that
the amount of such reduction in the return on capital is not reflected in the
Base Rate, the Borrower and such Lender shall thereafter attempt to negotiate in
good faith, within thirty (30) days of the day on which the Borrower receives
such notice, an adjustment payable hereunder that will adequately compensate
such Lender in light of these circumstances. If the Borrower and such Lender are
unable to agree to such adjustment within thirty (30) days of the date on which
the Borrower receives such notice, then commencing on the date of such notice
(but not earlier than the effective date of any such increased capital
requirement), the fees payable hereunder shall increase by an amount that will,
in such Lender&#146;s reasonable determination, provide adequate compensation.
Each Lender shall allocate such cost increases among its customers in good faith
and on an equitable basis. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>5.8.&nbsp;&nbsp;<U>Certificate</U>.</B>&nbsp;&nbsp;A certificate setting
forth any additional amounts payable pursuant to &sect;5.6 or 5.7 and a brief
explanation of such amounts which are due, submitted by any Lender or the
Administrative Agent to the Borrower, shall be conclusive, absent manifest
error, that such amounts are due and owing. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>5.9.&nbsp;&nbsp;<U>Indemnity</U>.</B>&nbsp;&nbsp;The Borrower agrees to
indemnify each Lender and to hold each Lender harmless from and against any
loss, cost or expense (including loss of anticipated profits) that such Lender
may sustain or incur as a consequence of (a) default by the Borrower in payment
of the principal amount of or any interest on any Eurodollar Rate Loans as and
when due and payable, including any such loss or expense arising from interest
or fees payable by such Lender to banks of funds obtained by it in order to
maintain its Eurodollar Rate Loans, (b) default by the Borrower in making a
borrowing or conversion after the Borrower has given (or is deemed to have
given) a Loan Request or a Conversion Request relating thereto in accordance
with &sect;2.6 or &sect;2.7 or (c) the making of any payment of a Eurodollar
Rate Loan or the making of any conversion of any such Loan to a Base Rate Loan
on a day that is not the last day of the applicable Interest Period with respect
thereto, including interest or fees payable by such Lender to lenders of funds
obtained by it in order to maintain any such Loans. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>5.10.&nbsp;&nbsp;<U>Interest After Default</U>.</B> </FONT></P>

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<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>5.10.1.&nbsp;&nbsp;<U>Overdue
Amounts</U>.</B>&nbsp;&nbsp;Overdue principal and (to the extent permitted by applicable
law) interest on the Revolving Credit Loans, the Swing Line Loans and all other overdue
amounts payable hereunder or under any of the other Loan Documents shall bear interest
from the due date compounded monthly and payable on demand at a rate per annum equal to
two percent (2%) above the rate of interest then applicable thereto (or, if no rate of
interest is then applicable thereto, the Base Rate) until such amount shall be paid in
full (after as well as before judgment). An amount shall be considered overdue hereunder
if not paid on the date fixed for payment herein or any accelerated maturity thereof,
regardless of any grace periods which may be permitted under &sect;13.1 (a) or (b)
hereof.
</TD>
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<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>5.10.2.&nbsp;&nbsp;<U>Amounts Not Overdue</U>.</B>&nbsp;&nbsp;During the
continuance of an Event of Default the principal of the Revolving Credit Loans
not overdue shall, until such Event of Default has been cured or remedied or
such Event of Default has been waived by the Required Lenders pursuant to
&sect;16.12, bear interest at a rate per annum equal to the greater of (a) two
percent (2%) above the rate of interest otherwise applicable to such Revolving
Credit Loans pursuant to &sect;2.5 or (b) the rate of interest applicable to
overdue principal pursuant to &sect;5.10.1.
</TD>
</TR>
</TABLE>
<BR>

<P ALIGN=CENTER><FONT SIZE=3><B>6.&nbsp;&nbsp;<U>COLLATERAL SECURITY AND GUARANTIES</U>.</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>6.1.&nbsp;&nbsp;<U>Security of Borrower</U>.</B>&nbsp;&nbsp;The Obligations
shall be secured by a perfected first priority security interest (subject only
to Permitted Liens that are entitled to priority under applicable law) in all of
the assets of the Borrower and, subject to &sect;8.17, each Guarantor, whether
now owned or hereafter acquired, including, without limitation, all leases,
lease receivables and other accounts receivable of the Borrower and, subject to
&sect;8.17, each Guarantor, and a pledge of 100% of the Capital Stock of each of
the Borrower&#146;s Subsidiaries (or, in the case of a non-Guarantor Subsidiary
that is a &#147;controlled foreign corporation&#148; under Section 957 of the
Code, 66% of the Capital Stock of each such first-tier foreign non-Guarantor
Subsidiary), in each case pursuant to the terms of, and as provided in, the
Security Documents to which the Borrower or such Guarantor is a party.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>6.2.&nbsp;&nbsp;<U>Guaranties of Subsidiaries</U>.</B>&nbsp;&nbsp;The
Obligations shall also be guaranteed pursuant to the terms of the Guaranty.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>6.3.&nbsp;&nbsp;<U>Release of Collateral</U>.</B> </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The parties hereto acknowledge and agree that the Administrative Agent shall
release its Lien on Collateral consisting of Containers and the proceeds thereof
upon a request for such release by the Borrower in connection with a disposition
of such Collateral permitted by, and in accordance with, &sect;9.5.2.
</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>7.&nbsp;&nbsp;<U>REPRESENTATIONS AND WARRANTIES</U>.</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Borrower represents and warrants to the Lenders and the Administrative Agent
as follows: </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.1.&nbsp;&nbsp;<U>Corporate Authority</U>.</B> </FONT></P>

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<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.1.1.&nbsp;&nbsp;<U>Incorporation; Good Standing</U>.</B>&nbsp;&nbsp;Each of
the Borrower and its Subsidiaries (a) is a corporation (or similar business
entity) duly organized, validly existing and in good standing under the laws of
its jurisdiction of incorporation or formation, (b) has all requisite corporate
(or the equivalent company) power to own its property and conduct its business
as now conducted and as presently contemplated, and (c) is in good standing as a
foreign corporation (or similar business entity) and is duly authorized to do
business in each jurisdiction where such qualification is necessary except where
a failure to be so qualified would not have a Material Adverse Effect.
</TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.1.2.&nbsp;&nbsp;<U>Authorization</U>.</B>&nbsp;&nbsp;The execution,
delivery and performance of this Credit Agreement and the other Loan Documents
to which the Borrower or any of its Subsidiaries is or is to become a party and
the transactions contemplated hereby and thereby (a) are within the corporate
(or the equivalent company) authority of such Person, (b) have been duly
authorized by all necessary corporate (or the equivalent company) proceedings,
(c) do not and will not conflict with or result in any breach or contravention
of any provision of law, statute, rule or regulation to which the Borrower or
any of its Subsidiaries is subject or any judgment, order, writ, injunction,
license or permit applicable to the Borrower or any of its Subsidiaries and (d)
do not conflict with any provision of the Governing Documents of, or any
agreement or other instrument binding upon, the Borrower or any of its
Subsidiaries.
</TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.1.3.&nbsp;&nbsp;<U>Enforceability</U>.</B>&nbsp;&nbsp;The execution and
delivery of this Credit Agreement and the other Loan Documents to which the
Borrower or any of its Subsidiaries is or is to become a party will result in
valid and legally binding obligations of such Person enforceable against it in
accordance with the respective terms and provisions hereof and thereof, except
as enforceability is limited by bankruptcy, insolvency, reorganization,
moratorium or other laws relating to or affecting generally the enforcement of
creditors&#146; rights and except to the extent that availability of the remedy
of specific performance or injunctive relief is subject to the discretion of the
court before which any proceeding therefor may be brought.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.2.&nbsp;&nbsp;<U>Governmental or Third Party
Approvals</U>.</B>&nbsp;&nbsp;The execution, delivery and performance by the
Borrower and any of its Subsidiaries of this Credit Agreement and the other Loan
Documents to which the Borrower or any of its Subsidiaries is or is to become a
party and the transactions contemplated hereby and thereby do not require (x)
the approval or consent of, or filing with, any governmental agency or authority
other than those already obtained or (y) the approval or consent of, or filing
with, any party with whom the Borrower has entered into material agreements
and/or instruments by which the Borrower or any of its properties may be bound,
other than those already obtained. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.3.&nbsp;&nbsp;<U>Title to Properties; Leases</U>.</B>&nbsp;&nbsp;Except as
indicated on <U>Schedule</U>&nbsp;<U>7.3</U> hereto, the Borrower and its
Subsidiaries own all of the assets reflected in the consolidated balance sheet
of the Borrower and its Subsidiaries as at the Balance Sheet Date or acquired
since that date (except property and assets sold or otherwise disposed of in the
ordinary course of business since that date), subject to no Liens or other
rights of others, except Permitted Liens. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.4.&nbsp;&nbsp;<U>Financial Statements and Projections</U>.</B> </FONT></P>

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<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.4.1.&nbsp;&nbsp;<U>Fiscal Year</U>.</B> The Borrower and each of its
Subsidiaries has a fiscal (or financial) year which is the twelve months ending
on December 31<SUP>st</SUP> of each calendar year.
</TD>
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<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.4.2.&nbsp;&nbsp;<U>Financial Statements</U>.</B>
</TD>
</TR>
</TABLE>
<BR>

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There has been furnished to each of the Lenders a consolidated balance sheet of
the Borrower and its Subsidiaries as at the Balance Sheet Date, and a
consolidated statement of income of the Borrower and its Subsidiaries for the
fiscal year then ended, certified by KPMG Peat Marwick, and management-prepared
consolidated balance sheets and statements of income of the Borrower and its
Subsidiaries as at the end of each fiscal quarter after the Balance Sheet Date
and prior to the Closing Date. Such balance sheets and statements of income have
been prepared in accordance with GAAP and fairly present the financial condition
of the Borrower as at the close of business on the respective dates thereof and
the results of operations for the fiscal periods then ended. There are no
contingent liabilities of the Borrower or any of its Subsidiaries as of such
date involving material amounts, known to the officers of the Borrower, which
were not disclosed in such balance sheets and the notes related thereto.
</TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.4.3.&nbsp;&nbsp;<U>Projections</U>.</B>&nbsp;&nbsp;The projections of the
annual operating budgets of the Borrower and its Subsidiaries on a consolidated
basis, balance sheets and cash flow statements for the 2005 to 2009 fiscal
years<I>,</I> copies of which have been delivered to each Lender, disclose all
major assumptions made with respect to general economic, financial and market
conditions used in formulating such projections. To the knowledge of the
Borrower or any of its Subsidiaries, no facts exist that (individually or in the
aggregate) would result in any material change in any of such projections. The
projections are based upon reasonable estimates and assumptions, have been
prepared on the basis of the assumptions stated therein and reflect the
reasonable estimates of the Borrower and its Subsidiaries of the results of
operations and other information projected therein.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.5.&nbsp;&nbsp;<U>No Material Adverse Changes, etc</U>.</B>&nbsp;&nbsp;Since
the Balance Sheet Date there has been no event or occurrence which has had or
would result in a Material Adverse Effect. Since the Balance Sheet Date, the
Borrower has not made any Restricted Payment other than Restricted Payments
permitted under &sect;9.4. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.6.&nbsp;&nbsp;<U>Franchises, Patents, Copyrights,
etc</U>.</B>&nbsp;&nbsp;The Borrower and each of its Subsidiaries possesses all
franchises, patents, copyrights, trademarks, trade names, licenses and permits,
and rights in respect of the foregoing, adequate for the conduct of its business
substantially as now conducted without known conflict with any rights of others.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.7.&nbsp;&nbsp;<U>Litigation</U>.</B>&nbsp;&nbsp;Except as set forth in
<U>Schedule</U>&nbsp;<U>7.7</U> hereto, there are no actions, suits, proceedings
or investigations of any kind pending or threatened against the Borrower or any
of its Subsidiaries before any Governmental Authority, that (a) if adversely
determined, might, either in any case or in the aggregate (i) have a Material
Adverse Effect or (ii) materially impair the right of the Borrower and its
Subsidiaries, considered as a whole, to carry on business substantially as now
conducted by them, or result in any substantial liability not adequately covered
by insurance, or for which adequate reserves are not maintained on the
consolidated balance sheet of the Borrower and its Subsidiaries, or (b) which
question the validity of this Credit Agreement or any of the other Loan
Documents, or any action taken or to be taken pursuant hereto or thereto.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.8.&nbsp;&nbsp;<U>No Materially Adverse Contracts,
etc</U>.</B>&nbsp;&nbsp;Neither the Borrower nor any of its Subsidiaries is
subject to any Governing Document or other legal restriction, or any judgment,
decree, order, law, statute, rule or regulation that has or is expected in the
future to have a Material Adverse Effect. Neither the Borrower nor any of its
Subsidiaries is a party to any contract or agreement that has or is expected, in
the judgment of the Borrower&#146;s officers, to have any Material Adverse
Effect. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.9.&nbsp;&nbsp;<U>Compliance with Other Instruments, Laws,
etc</U>.</B>&nbsp;&nbsp;Neither the Borrower nor any of its Subsidiaries is in
violation of any provision of its Governing Documents, or any agreement or
instrument to which it may be subject or by which it or any of its properties
may be bound or any decree, order, judgment, statute, license, rule or
regulation, in any of the foregoing cases in a manner that could result in the
imposition of substantial penalties or have a Material Adverse Effect.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.10.&nbsp;&nbsp;<U>Tax Status</U>.</B>&nbsp;&nbsp;The Borrower and its
Subsidiaries (a) have made or filed all federal, state and foreign income and
all other tax returns, reports and declarations required by any jurisdiction to
which any of them is subject, (b) have paid all taxes and other governmental
assessments and charges shown or determined to be due on such returns, reports
and declarations, except those being contested in good faith and by appropriate
proceedings and (c) have set aside on their books provisions reasonably adequate
for the payment of all taxes for periods subsequent to the periods to which such
returns, reports or declarations apply. There are no unpaid taxes in any
material amount claimed to be due by the taxing authority of any jurisdiction,
and none of the officers of the Borrower know of any basis for any such claim.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.11.&nbsp;&nbsp;<U>No Event of Default</U>.</B>&nbsp;&nbsp;No Default or
Event of Default has occurred and is continuing. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.12.&nbsp;&nbsp;<U>Holding Company and Investment Company
Acts</U>.</B>&nbsp;&nbsp;Neither the Borrower nor any of its Subsidiaries is a
&#147;<U>holding</U> <U>company</U>&#148;, or a &#147;<U>subsidiary</U>
<U>company</U>&#148; of a &#147;<U>holding</U>
<U>company</U>&#148;, or an &#147;<U>affiliate</U>&#148; of a &#147;<U>holding</U>
<U>company</U>&#148;, as such terms are defined in the Public Utility Holding Company Act
of 1935; nor is it an &#147;<U>investment</U> <U>company</U>&#148;, or an
&#147;<U>affiliated</U> <U>company</U>&#148; or a &#147;<U>principal</U>
<U>underwriter</U>&#148; of an &#147;<U>investment</U> <U>company</U>&#148;, as
such terms are defined in the Investment Company Act of 1940. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.13.&nbsp;&nbsp;<U>Absence of Financing Statements,
etc</U>.</B>&nbsp;&nbsp;Except with respect to Permitted Liens, there is no
financing statement, security agreement, chattel mortgage, real estate mortgage
or other document filed or recorded with any filing records, registry or other
public office, that purports to cover, affect or give notice of any present or
possible future Lien on any assets or property of the Borrower or any of its
Subsidiaries or any rights relating thereto. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.14.&nbsp;&nbsp;<U>Perfection of Security Interest</U>.</B>&nbsp;&nbsp;All
filings, assignments, pledges and deposits of documents or instruments have been
made and all other actions have been taken that are necessary or advisable,
under applicable law, to establish and perfect the Administrative Agent&#146;s
security interest in the Collateral. The Collateral and the Administrative
Agent&#146;s rights with respect to the Collateral are not subject to any
setoff, claims, withholdings or other defenses. The Borrower is the owner of the
Collateral free from any Lien, except for Permitted Liens. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.15.&nbsp;&nbsp;<U>Certain Transactions</U>.</B>&nbsp;&nbsp;Except for
arm&#146;s length transactions pursuant to which the Borrower or any of its
Subsidiaries makes payments in the ordinary course of business upon terms no
less favorable than the Borrower or such Subsidiary could obtain from third
parties and except pursuant to the terms of the documents described on
<U>Schedule</U> <U>7.15</U> hereto, no Affiliate of the Borrower or any of its
Subsidiaries is presently a party to any transaction with the Borrower or any of its
Subsidiaries (other than for services as employees, officers and directors), including any
contract, agreement or other arrangement providing for the furnishing of services to or
by, providing for rental of real or personal property to or from, or otherwise requiring
payments to or from any such Affiliate or, to the knowledge of the Borrower, any
corporation, partnership, trust or other entity in which any such Affiliate has a
substantial interest or is an officer, director, trustee or partner. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.16.&nbsp;&nbsp;<U>Employee Benefit Plans</U>.</B> </FONT></P>

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<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.16.1.&nbsp;&nbsp;<U>In General</U>.</B>&nbsp;&nbsp;Each Employee Benefit
Plan and each Guaranteed Pension Plan has been maintained and operated in
compliance in all material respects with the provisions of ERISA and all
Applicable Pension Legislation and, to the extent applicable, the Code,
including but not limited to the provisions thereunder respecting prohibited
transactions and the bonding of fiduciaries and other persons handling plan
funds as required by &sect;412 of ERISA. The Borrower has heretofore delivered
to the Administrative Agent the most recently completed annual report, Form
5500, with all required attachments, and actuarial statement required to be
submitted under &sect;103(d) of ERISA, with respect to each Guaranteed Pension
Plan.
</TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.16.2.&nbsp;&nbsp;<U>Terminability of Welfare Plans</U>.</B>&nbsp;&nbsp;No
Employee Benefit Plan, which is an employee welfare benefit plan within the
meaning of &sect;3(1) or &sect;3(2)(B) of ERISA, provides benefit coverage
subsequent to termination of employment, except as required by Title I, Part 6
of ERISA or the applicable state insurance laws. The Borrower, or an ERISA
Affiliate (other than Interpool), as appropriate, may terminate each such Plan
at any time (or at any time subsequent to the expiration of any applicable
bargaining agreement) in the discretion of the Borrower or such ERISA Affiliate
(other than Interpool) without material liability to any Person other than for
claims arising prior to termination.
</TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.16.3.&nbsp;&nbsp;<U>Guaranteed Pension Plans</U>.</B>&nbsp;&nbsp;Each
contribution required to be made to a Guaranteed Pension Plan, whether required
to be made to avoid the incurrence of an accumulated funding deficiency, the
notice or lien provisions of &sect;302(f) of ERISA, or otherwise, has been
timely made. No waiver of an accumulated funding deficiency or extension of
amortization periods has been received with respect to any Guaranteed Pension
Plan, and neither the Borrower nor any ERISA Affiliate is obligated to or has
posted security in connection with an amendment to a Guaranteed Pension Plan
pursuant to &sect;307 of ERISA or &sect;401(a)(29) of the Code. No liability to
the PBGC (other than required insurance premiums, all of which have been paid)
has been incurred by the Borrower or any ERISA Affiliate with respect to any
Guaranteed Pension Plan and there has not been any ERISA Reportable Event (other
than an ERISA Reportable Event as to which the requirement of 30 days notice has
been waived), or any other event or condition which presents a material risk of
termination of any Guaranteed Pension Plan by the PBGC. Based on the latest
valuation of each Guaranteed Pension Plan (which in each case occurred within
twelve months of the date of this representation), and on the actuarial methods
and assumptions employed for that valuation, the aggregate benefit liabilities
of all such Guaranteed Pension Plans within the meaning of &sect;4001 of ERISA
did not exceed the aggregate value of the assets of all such Guaranteed Pension
Plans, disregarding for this purpose the benefit liabilities and assets of any
Guaranteed Pension Plan with assets in excess of benefit liabilities.
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.16.4.&nbsp;&nbsp;<U>Multiemployer Plans</U>.</B>&nbsp;&nbsp;Neither the
Borrower nor any ERISA Affiliate has incurred any material liability (including
secondary liability) to any Multiemployer Plan as a result of a complete or
partial withdrawal from such Multiemployer Plan under &sect;4201 of ERISA or as
a result of a sale of assets described in &sect;4204 of ERISA. Neither the
Borrower nor any ERISA Affiliate has been notified that any Multiemployer Plan
is in reorganization or insolvent under and within the meaning of &sect;4241 or
&sect;4245 of ERISA or is at risk of entering reorganization or becoming
insolvent, or that any Multiemployer Plan intends to terminate or has been
terminated under &sect;4041A of ERISA.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.17.&nbsp;&nbsp;<U>Use of Proceeds</U>.</B> </FONT></P>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.17.1.&nbsp;&nbsp;<U>General</U></B>.&nbsp;&nbsp;The proceeds of the
Revolving Credit Loans shall be used (a) to refinance the Indebtedness under the
Existing Credit Agreement, (b) to make the Closing Interpool Repayment, (c) to
prepay the Interpool Subordinated Debt and the Master Lease Agreements in
accordance with the terms of this Credit Agreement after the Closing Date, (d)
for working capital and general corporate purposes and (e) to fund Capital
Expenditures permitted hereunder. The Borrower will obtain Letters of Credit
solely for working capital and general corporate purposes.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.17.2.&nbsp;&nbsp;<U>Regulations U and X</U></B>.&nbsp;&nbsp;No portion of
any Revolving Credit Loan is to be used, and no portion of any Letter of Credit
is to be obtained, for the purpose of purchasing or carrying any
&#147;<U>margin</U> <U>security</U>&#148; or &#147;<U>margin</U>
<U>stock</U>&#148; as such terms are used in Regulations U and X of the Board of
Governors of the Federal Reserve System, 12 C.F.R. Parts 221 and 224.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.18.&nbsp;&nbsp;<U>Environmental Compliance</U>.</B>&nbsp;&nbsp;The Borrower
has taken all reasonable and necessary steps to investigate the past and present
condition and usage of the Real Estate and the operations conducted thereon and,
based upon such diligent investigation, has determined that: </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; none of the Borrower, its
Subsidiaries or any operator of the Real Estate or any operations thereon is in
violation, or alleged violation, of any judgment, decree, order, law, license,
rule or regulation pertaining to environmental matters, including without
limitation, those arising under the Resource Conservation and Recovery Act
(&#147;<U>RCRA</U>&#148;), the Comprehensive Environmental Response,
Compensation and Liability Act of 1980 as amended (&#147;<U>CERCLA</U>&#148;),
the Superfund Amendments and Reauthorization Act of 1986
(&#147;<U>SARA</U>&#148;), the Federal Clean Water Act, the Federal Clean Air
Act, the Toxic Substances Control Act, or any state, local or foreign law,
statute, regulation, ordinance, order or decree relating to health, safety or
the environment (hereinafter &#147;<U>Environmental Laws</U>&#148;), which
violation could have a material adverse effect on the environment or a Material
Adverse Effect;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; neither the Borrower nor any of
its Subsidiaries has received notice from any third party including, without
limitation, any Governmental Authority, (i) that any one of them has been
identified by the United States Environmental Protection Agency
(&#147;<U>EPA</U>&#148;) as a potentially responsible party under CERCLA with
respect to a site listed on the National Priorities List, 40 C.F.R. Part 300
Appendix B; (ii) that any hazardous waste, as defined by 42 U.S.C.
&sect;6903(5), any hazardous substances as defined by 42 U.S.C. &sect;9601(14),
any pollutant or contaminant as defined by 42 U.S.C. &sect;9601(33) and any
toxic substances, oil or hazardous materials or other chemicals or substances
regulated by any Environmental Laws (&#147;<U>Hazardous Substances</U>&#148;)
which any one of them has generated, transported or disposed of has been found
at any site at which a Governmental Authority has conducted or has ordered that
any Borrower or any of its Subsidiaries conduct a remedial investigation,
removal or other response action pursuant to any Environmental Law; or (iii)
that it is or shall be a named party to any claim, action, cause of action,
complaint, or legal or administrative proceeding (in each case, contingent or
otherwise) arising out of any third party&#146;s incurrence of costs, expenses,
losses or damages of any kind whatsoever in connection with the release of
Hazardous Substances;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; except as set forth on
<U>Schedule</U>&nbsp;<U>7.18</U> attached hereto, to the best of the
Borrower&#146;s knowledge: (i) no portion of the Real Estate has been used for
the handling, processing, storage or disposal of Hazardous Substances except in
accordance with applicable Environmental Laws; and no underground tank or other
underground storage receptacle for Hazardous Substances is located on any
portion of the Real Estate; (ii) in the course of any activities conducted by
the Borrower, its Subsidiaries or operators of its properties, no Hazardous
Substances have been generated or are being used on the Real Estate except in
accordance with applicable Environmental Laws; (iii) there have been no releases
(i.e. any past or present releasing, spilling, leaking, pumping, pouring,
emitting, emptying, discharging, injecting, escaping, disposing or dumping) or
threatened releases of Hazardous Substances on, upon, into or from the
properties of the Borrower or its Subsidiaries, which releases could have a
material adverse effect on the value of any of the Real Estate or adjacent
properties or the environment; (iv) to the best of the Borrower&#146;s
knowledge, there have been no releases on, upon, from or into any real property
in the vicinity of any of the Real Estate which, through soil or groundwater
contamination, may have come to be located on, and which could have a material
adverse effect on the value of, the Real Estate; and (v) in addition, any
Hazardous Substances that have been generated on any of the Real Estate have
been transported offsite only by carriers having an identification number issued
by the EPA (or the equivalent thereof in any foreign jurisdiction), treated or
disposed of only by treatment or disposal facilities maintaining valid permits
as required under applicable Environmental Laws, which transporters and
facilities have been and are, to the best of the Borrower&#146;s knowledge,
operating in compliance with such permits and applicable Environmental Laws; and
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; none of the Borrower and its
Subsidiaries, nor any of the Real Estate is subject to any applicable
Environmental Law requiring the performance of Hazardous Substances site
assessments, or the removal or remediation of Hazardous Substances, or the
giving of notice to any Governmental Authority or the recording or delivery to
other Persons of an environmental disclosure document or statement by virtue of
the transactions set forth herein and contemplated hereby, or as a condition to
the effectiveness of any transactions contemplated hereby.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.19.&nbsp;&nbsp;<U>Subsidiaries, etc</U>.&nbsp;&nbsp;</B><U>Schedule</U>
<U>7.19(a)</U> hereto sets forth the only Subsidiaries of the Borrower,
including the jurisdiction of incorporation/formation and principal place of
business or registered office, as the case may be, of each such Person. Except
as set forth on <U>Schedule</U>&nbsp;<U>7.19(b)</U> hereto, neither the Borrower
nor any Subsidiary of the Borrower is engaged in any joint venture or
partnership with any other Person. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.20.&nbsp;&nbsp;<U>Bank
Accounts</U>.</B>&nbsp;&nbsp;<U>Schedule</U>&nbsp;<U>7.20</U> sets forth the
account numbers and location of all bank accounts of the Borrower and its
Subsidiaries. The aggregate amount of collected funds held in each such deposit
account (other than deposit accounts maintained at the Administrative
Agent&#146;s Office) shall not at the close of any Business Day exceed the
amount specified for such account on <U>Schedule</U> <U>7.20</U> and the
aggregate amount of collected funds held in all such deposit accounts (other
than deposit accounts maintained at the Administrative Agent&#146;s Office)
shall not at the close of any Business Day exceed two million Dollars
($2,000,000). </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.21.&nbsp;&nbsp;<U>Disclosure</U>.&nbsp;&nbsp;</B>None of this Credit
Agreement or any of the other Loan Documents contains any untrue statement of a
material fact or omits to state a material fact (known to the Borrower or any of
its Subsidiaries in the case of any document or information not furnished by it
or any of its Subsidiaries) necessary in order to make the statements herein or
therein not misleading. There is no fact known to the Borrower or any of its
Subsidiaries which has a Material Adverse Effect, or which is reasonably likely
in the future to have a Material Adverse Effect, exclusive of effects resulting
from changes in general economic conditions, legal standards or regulatory
conditions. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.22.&nbsp;&nbsp;<U>Status</U> <U>of</U> <U>Obligations</U></B>
<B><U>as</U></B> <B><U>Senior</U></B> <B><U>Debt</U></B>.&nbsp;&nbsp;All
Obligations of the Borrower and its Subsidiaries to the Lenders and the
Administrative Agent under or in respect of this Credit Agreement and the other
Loan Documents constitute &#147;Senior Debt&#148; (or the analogous term used
therein) under the terms of the Subordination Documents or of any other
instrument evidencing or pursuant to which there is issued indebtedness which
purports to be Subordinated Debt of the Borrower or any of its Subsidiaries.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.23.&nbsp;&nbsp;<U>Solvency</U>.</B>&nbsp;&nbsp;Both before and after giving
effect to each incurrence of Indebtedness hereunder, and the payment of all
fees, costs and expenses payable by the Borrower hereunder, the Borrower is
Solvent. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.24.&nbsp;&nbsp;<U>Insurance</U>.&nbsp;&nbsp;</B>The Borrower and each of
its Subsidiaries maintain with financially sound and reputable insurers
insurance with respect to its properties and businesses against such casualties
and contingencies as are set forth on <U>Schedule</U> <U>7.24</U> hereto, and
such insurance is in accordance with sound business practices in accordance with
industry standards and the terms of the Security Documents. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>7.25.&nbsp;&nbsp;<U>Foreign Assets Control Regulations,
Etc.</U>&nbsp;&nbsp;</B>None of the requesting or borrowing of the Revolving
Credit Loans, the Swing Line Loans, the requesting or issuance, extension or
renewal of any Letters of Credit or the use of the proceeds of any thereof will
violate the Trading With the Enemy Act (50 U.S.C. &sect;1 et seq., as amended)
(the &#147;<U>Trading</U> <U>With</U> <U>the</U> <U>Enemy</U> <U>Act</U>&#148;)
or any of the foreign assets control regulations of the United States Treasury
Department (31 CFR, Subtitle B, Chapter V, as amended) (the &#147;<U>Foreign</U>
<U>Assets</U> <U>Control</U>
<U>Regulations</U>&#148;) or any enabling legislation or executive order relating thereto
(which for the avoidance of doubt shall include, but shall not be limited to (a) Executive
Order 13224 of September 21, 2001 Blocking Property and Prohibiting Transactions With
Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001))
(the &#147;<U>Executive</U> <U>Order</U>&#148;) and (b) the Uniting and Strengthening
America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of
2001 (Public Law 107-56)). Furthermore, neither the Borrower nor any of its Subsidiaries
or other Affiliates that are controlled by the Borrower (a) is or will become a
&#147;blocked person&#148; as described in the Executive Order, the Trading With the Enemy
Act or the Foreign Assets Control Regulations or (b) engages or will engage in any
dealings or transactions, or be otherwise associated, with any such &#147;blocked
person&#148;. </FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>8.&nbsp;&nbsp;<U>AFFIRMATIVE COVENANTS</U>.</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Borrower covenants and agrees that, so long as any Revolving Credit Loan,
Unpaid Reimbursement Obligation, Letter of Credit, Swing Line Loan or Revolving
Credit Note is outstanding or any Lender has any obligation to make any
Revolving Credit Loans or the L/C Issuer has any obligation to issue, extend or
renew any Letters of Credit or the Swing Line Lender has any obligation to make
Swing Line Loans: </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.1.&nbsp;&nbsp;<U>Punctual Payment</U>.</B>&nbsp;&nbsp;The Borrower will
duly and punctually pay or cause to be paid the principal and interest on the
Revolving Credit Loans, all Reimbursement Obligations, all Swing Line Loans, the
fees and all other amounts provided for in this Credit Agreement and the other
Loan Documents to which the Borrower or any of its Subsidiaries is a party, all
in accordance with the terms of this Credit Agreement and such other Loan
Documents. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.2.&nbsp;&nbsp;<U>Maintenance of Office</U>.</B>&nbsp;&nbsp;The Borrower
will maintain its chief executive office in San Francisco, California, or at
such other place in the United States of America as the Borrower shall designate
upon thirty days&#146; prior written notice to the Administrative Agent, where
notices, presentations and demands to or upon the Borrower in respect of the
Loan Documents to which the Borrower is a party may be given or made. In the
event the Borrower moves its chief executive office to another location within
the State of California, thirty days&#146; prior telephonic notice to the
Administrative Agent shall be sufficient. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.3.&nbsp;&nbsp;<U>Records and Accounts</U>.</B> </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Borrower will (i) keep, and
cause each of its Subsidiaries to keep, true and accurate records and books of
account in which full, true and correct entries will be made in accordance with
GAAP, (ii) maintain adequate accounts and reserves for all taxes (including
income taxes), depreciation, depletion, obsolescence and amortization of its
properties and the properties of its Subsidiaries, contingencies, and other
reserves, and (iii) at all times engage KPMG Peat Marwick or other independent
certified public accountants satisfactory to the Administrative Agent as the
independent certified public accountants of the Borrower and its Subsidiaries
and will not permit more than thirty (30) days to elapse between the cessation
of such firm&#146;s (or any successor firm&#146;s) engagement as the independent
certified public accountants of the Borrower and its Subsidiaries and the
appointment in such capacity of a successor firm as shall be reasonably
satisfactory to the Administrative Agent. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; From time to time upon the request
of the Administrative Agent, the Borrower shall deliver to the Administrative
Agent a list of the names, addresses, face value, and dates of invoices for each
debtor obligated on such an account receivable. With respect to all leases of
the Company that constitute Collateral hereunder or pursuant to which the
Borrower, as lessor, leases Containers comprising Collateral to third parties,
(i) each such lease shall be executed in three original counterparts, one and
only one of which shall be designated the &#147;Lessor&#146;s Original&#148;,
(ii) only the Lessor&#146;s Original counterpart of each such lease shall be
deemed to constitute chattel paper under the UCC and (iii) each such lease shall
contain a provision setting forth the terms contained in clauses (i) and (ii) of
this sentence. The Borrower shall conspicuously stamp the Lessor&#146;s Original
counterpart of each such lease and any other counterpart thereof that comes into
the Borrower&#146;s possession with a legend, in form and substance satisfactory
to the Administrative Agent, clearly indicating that such lease and the
Containers leased thereunder are subject to the security interest granted
pursuant hereto. The Borrower shall provide to the Administrative Agent upon
request copies of leases to which any portion of the Collateral is subject.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.4.&nbsp;&nbsp;<U>Financial Statements, Certificates and
Information</U>.</B>&nbsp;&nbsp;The Borrower will deliver to each of the
Lenders: </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; as soon as practicable, but in any
event not later than one hundred twenty (120) days after the end of each fiscal
year of the Borrower, the consolidated balance sheet of the Borrower and its
Subsidiaries as at the end of such year, and the related consolidated statement
of income and consolidated statement of cash flow for such year, each setting
forth in comparative form the figures for the previous fiscal year and all such
consolidatedstatements to be in reasonable detail, prepared in accordance with
GAAP, and certified, without qualification and without an expression of
uncertainty as to the ability of the Borrower or any of its Subsidiaries to
continue as going concerns, by KPMG Peat Marwick or by other independent
certified public accountants satisfactory to the Administrative Agent, together
with a written statement from such accountants to the effect that they have read
&sect;&sect;9 and 10 of this Credit Agreement and all the definitions associated
therewith, and that, in making the examination necessary to said certification,
they have obtained no knowledge of any Default or Event of Default, or, if such
accountants shall have obtained knowledge of any then existing Default or Event
of Default they shall disclose in such statement any such Default or Event of
Default; <U>provided</U> that such accountants shall not be liable to the
Lenders for failure to obtain knowledge of any Default or Event of Default;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; as soon as practicable, but in any
event not later than forty-five (45) days after the end of each of the fiscal
quarters of the Borrower, copies of the unaudited consolidated balance sheet of
the Borrower and its Subsidiaries as at the end of such quarter, and the related
consolidated statement of income and consolidated statement of cash flow for the
portion of the Borrower&#146;s fiscal year then elapsed, all in reasonable
detail and prepared in accordance with GAAP, together with a certification by
the principal financial or accounting officer of the Borrower that the
information contained in such financial statements fairly presents the financial
position of the Borrower and its Subsidiaries on the date thereof (subject to
year-end adjustments);
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; as soon as practicable, but in any
event within forty-five (45) days after the end of each month in each fiscal
year of the Borrower, an unaudited monthly consolidated balance sheet and
consolidated statement of income of the Borrower and its Subsidiaries for such
month prepared in accordance with GAAP, together with a certification by the
principal financial or accounting officer of the Borrower that the information
contained in such financial statements fairly presents the financial condition
of the Borrower and its Subsidiaries on the date thereof (subject to year-end
adjustments);
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; simultaneously with the delivery
of the financial statements referred to in subsections (a) and (b) above, a
statement certified by the principal financial or accounting officer of the
Borrower in substantially the form of <U>Exhibit</U>&nbsp;<U>D</U> hereto (a
&#147;<U>Compliance</U> <U>Certificate</U>&#148;) and setting forth in
reasonable detail computations evidencing compliance with the covenants
contained in &sect;10 and (if applicable) reconciliations to reflect changes in
GAAP since the Balance Sheet Date;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; contemporaneously with the filing
or mailing thereof, copies of all material of a financial nature filed with the
Securities and Exchange Commission or sent to the stockholders of the Borrower;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; within forty-five days (45) days
of the end of each calendar month and, in any case, simultaneously with the
delivery of a Loan Request in accordance with &sect;2.9, and at the times
specified in &sect;9.5.2 and at such other times as the Administrative Agent may
reasonably request, a Borrowing Base Report setting forth the Borrowing Base as
at the end of such calendar month, the date of such Loan Request or other date
so requested by the Administrative Agent, as the case may be;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; simultaneously with the delivery
of the financial statements referred to in subsection (b) above and at such
other times as the Administrative Agent may reasonably request, a summary
Accounts Receivable (including Eligible Container Receivables) aging report as
of the end of each fiscal quarter of the Borrower, together with a list of
account debtors and the associated Accounts Receivable with the largest overdue
face amounts as of the end of each fiscal quarter, and otherwise in form and
detail satisfactory to the Administrative Agent, together with a list of the
twenty (20) account debtors with whom the Borrower transacted the largest volume
of business during such fiscal quarter;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; as soon as practicable, but in any
event not later than 45 days after request by the Administrative Agent made
after determining in its discretion that an appraisal or reappraisal of the
value of Eligible Containers of the Borrower or any Subsidiary of the Borrower
is necessary, an appraisal or reappraisal, as the case may be, of the value of
such Eligible Containers, which appraisal or reappraisal shall be conducted at
the expense of the Borrower or such Subsidiary by an appraiser selected by the
Administrative Agent in form and substance satisfactory to the Administrative
Agent;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; simultaneously with the delivery
of the financial statements referred to in subsection (a) above and from time to
time upon request of the Administrative Agent, a copy of the Borrower&#146;s
business plan, budget and financial forecast prepared on a monthly or quarterly
basis for the then current fiscal year, all in such form and detail as the
Lenders may reasonably request, updating those projections delivered to the
Lenders and referred to in &sect;7.4.3 or, if applicable, updating any later
such projections delivered in response to a request pursuant to this
&sect;8.4(i);
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; simultaneously with the delivery
of the financial statements referred to in subsection (c) above, a report
listing the aggregate number of Containers owned, rented, leased or managed by
the Borrower and its Subsidiaries, together with monthly utilization rate and
per diem rental rate information with respect to the Containers in form and
detail satisfactory to the Agent;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; from time to time such other
financial data and information (including accountants&#146; management letters)
as the Administrative Agent or any Lender may reasonably request; and
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; simultaneously with the delivery
thereof to Interpool, copies of any notices with respect to the Subordinated
Debt delivered from time to time to Interpool pursuant to Section 5.8(n) of the
Subordinated Note Purchase Agreement.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Borrower hereby acknowledges that (a) the Administrative Agent and/or the
Arranger will make available to the Lenders materials and/or information
provided by or on behalf of the Borrower hereunder (collectively,
&#147;<U>Borrower Materials</U>&#148;) by posting the Borrower Materials on
IntraLinks or another similar electronic system (the
&#147;<U>Platform</U>&#148;) and (b) certain of the Lenders may be
&#147;public-side&#148; Lenders (<I>i.e.,</I> Lenders that do not wish to
receive material non-public information with respect to the Borrower or its
securities) (each, a &#147;<U>Public Lender</U>&#148;). The Borrower hereby
agrees that so long as the Borrower is the issuer of any outstanding debt or
equity securities that are registered or issued pursuant to a private offering
or is actively contemplating issuing any such securities (w) all Borrower
Materials that are to be made available to Public Lenders shall be clearly and
conspicuously marked &#147;PUBLIC&#148; which, at a minimum, shall mean that the
word &#147;PUBLIC&#148; shall appear prominently on the first page thereof; (x)
by marking Borrower Materials &#147;PUBLIC,&#148; the Borrower shall be deemed
to have authorized the Administrative Agent, the Arranger, the L/C Issuer, the
Swing Line Lender and the Lenders to treat such Borrower Materials as not
containing any material non-public information with respect to the Borrower or
its securities for purposes of United States Federal and state securities laws
<U>(provided</U>, <U>however</U>, that to the extent such Borrower Materials
constitute Information, they shall be treated as set forth in Section
<U>10.07</U>); (y) all Borrower Materials marked &#147;PUBLIC&#148; are permitted to be
made available through a portion of the Platform designated &#147;Public Investor;&#148;
and (z) the Administrative Agent and the Arranger shall be entitled to treat any Borrower
Materials that are not marked &#147;PUBLIC&#148; as being suitable only for posting on a
portion of the Platform not designated &#147;Public Investor.&#148; Notwithstanding the
foregoing or anything to the contrary contained herein, the Borrower shall be under no
obligation to mark any Borrower Materials &#147;PUBLIC.&#148; </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.5.&nbsp;&nbsp;<U>Notices</U>.</B> </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.5.1.&nbsp;&nbsp;<U>Defaults</U>.</B>&nbsp;&nbsp;The Borrower will promptly
notify the Administrative Agent and each of the Lenders in writing of the
occurrence of any Default or Event of Default, together with a reasonably
detailed description thereof, and the actions the Borrower proposes to take with
respect thereto. If any Person shall give any notice or take any other action in
respect of a claimed default (whether or not constituting an Event of Default)
under this Credit Agreement or any other note, evidence of indebtedness,
indenture or other obligation in excess of $100,000 in principal amount to which
or with respect to which the Borrower or any of its Subsidiaries is a party or
obligor, whether as principal, guarantor, surety or otherwise, the Borrower
shall forthwith give written notice thereof to the Administrative Agent and each
of the Lenders, describing the notice or action and the nature of the claimed
default.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.5.2.&nbsp;&nbsp;<U>Environmental Events</U>.</B>&nbsp;&nbsp;The Borrower
will promptly give notice to the Administrative Agent and each of the Lenders
(a) of any violation of any Environmental Law that the Borrower or any of its
Subsidiaries reports in writing or is reportable by such Person in writing (or
for which any written report supplemental to any oral report is made) to any
Governmental Authority and (b) upon becoming aware thereof, of any inquiry,
proceeding, investigation, or other action, including a notice from any agency
of potential environmental liability, of any Governmental Authority that could
have a Material Adverse Effect.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.5.3.&nbsp;&nbsp;<U>Notification of Claim against
Collateral</U>.</B>&nbsp;&nbsp;The Borrower will, immediately upon becoming
aware thereof, notify the Administrative Agent and each of the Lenders in
writing of any setoff, claims (including, with respect to the Real Estate,
environmental claims), withholdings or other defenses to which any of the
Collateral, or the Administrative Agent&#146;s rights with respect to the
Collateral, are subject.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.5.4.&nbsp;&nbsp;<U>Notice of Litigation and
Judgments</U>.</B>&nbsp;&nbsp;The Borrower will, and will cause each of its
Subsidiaries to, give notice to the Administrative Agent and each of the Lenders
in writing within fifteen (15) days of becoming aware of any litigation or
proceedings threatened in writing or any pending litigation and proceedings
affecting the Borrower or any of its Subsidiaries or to which the Borrower or
any of its Subsidiaries is or becomes a party involving an uninsured claim
against the Borrower or any of its Subsidiaries that could reasonably be
expected to have a Material Adverse Effect on the Borrower or any of its
Subsidiaries and stating the nature and status of such litigation or
proceedings. The Borrower will, and will cause each of its Subsidiaries to, give
notice to the Administrative Agent and each of the Lenders, in writing, in form
and detail satisfactory to the Administrative Agent, within ten (10) days of any
judgment not covered by insurance, final or otherwise, against the Borrower or
any of its Subsidiaries in an amount in excess of $250,000.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.5.5.&nbsp;&nbsp;<U>Notice of ERISA Event</U>.</B>&nbsp;&nbsp;The Borrower
will, and will cause each of its Subsidiaries to, give prompt notice to the
Administrative Agent and each of the Lenders in writing upon the occurrence of
any ERISA Event.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.5.6.&nbsp;&nbsp;<U>Notice of Change in Accounting or Financial Reporting
Practices</U>.</B>&nbsp;&nbsp;The Borrower will, and will cause each of its
Subsidiaries to, give prompt notice to the Administrative Agent and each of the
Lenders in writing of any material change in accounting policies or financial
reporting practices by the Borrower or any of its Subsidiaries.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.6.&nbsp;&nbsp;<U>Legal Existence; Maintenance of
Properties</U>.</B>&nbsp;&nbsp;The Borrower will do or cause to be done all
things necessary to preserve and keep in full force and effect its legal
existence, rights and franchises and those of its Subsidiaries and will not, and
will not cause or permit any of its Subsidiaries to, convert to a limited
liability company or a limited liability partnership. It (i) will use
commercially reasonable efforts to cause all of its properties and those of its
Subsidiaries used or useful in the conduct of its business or the business of
its Subsidiaries to be maintained and kept in good condition, repair and working
order (reasonable wear and tear excepted) and supplied with all necessary
equipment, (ii) will cause to be made all necessary repairs, renewals,
replacements, betterments and improvements thereof, all as in the judgment of
the Borrower may be necessary so that the business carried on in connection
therewith may be properly and advantageously conducted at all times, and (iii)
will, and will cause each of its Subsidiaries to, continue to engage primarily
in the businesses now conducted by them and in related businesses;
<U>provided</U> that nothing in this &sect;8.6 shall prevent the Borrower from
discontinuing the operation and maintenance of any of its properties or any of
those of its Subsidiaries if such discontinuance is, in the judgment of the
Borrower, desirable in the conduct of its or their business and that do not in
the aggregate have a Material Adverse Effect. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.7.&nbsp;&nbsp;<U>Insurance</U>.</B>&nbsp;&nbsp;The Borrower will, and will
cause each of its Subsidiaries to, maintain with financially sound and reputable
insurers insurance with respect to its properties and business against such
casualties and contingencies as shall be in accordance with the general
practices of businesses engaged in similar activities in similar geographic
areas and in amounts, containing such terms, in such forms and for such periods
as may be reasonable and prudent and in accordance with the terms of the
Security Agreement. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.8.&nbsp;&nbsp;<U>Taxes</U>.</B>&nbsp;&nbsp;The Borrower will, and will
cause each of its Subsidiaries to, duly pay and discharge, or cause to be paid
and discharged, before the same shall become overdue, all taxes, assessments and
other governmental charges imposed upon it and its Real Estate, sales and
activities, or any part thereof, or upon the income or profits therefrom, as
well as all claims for labor, materials, or supplies that if unpaid might by law
become a Lien or charge upon any of its property; <U>provided</U> that any such
tax, assessment, charge, levy or claim need not be paid if the validity or
amount thereof shall currently be contested in good faith by appropriate
proceedings and if the Borrower or such Subsidiary shall have set aside on its
books adequate reserves with respect thereto; and
<U>provided</U> <U>further</U> that the Borrower and each Subsidiary of the Borrower will
pay all such taxes, assessments, charges, levies or claims forthwith upon the commencement
of proceedings to foreclose any Lien that may have attached as security therefor. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.9.&nbsp;&nbsp;<U>Inspection of Properties and Books, etc</U>.</B> </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.9.1.&nbsp;&nbsp;<U>General</U>.</B>&nbsp;&nbsp;Subject to &sect;16.4, the
Borrower shall permit the Lenders, through the Administrative Agent or any of
the Lenders&#146; other designated representatives upon reasonable advance
notice and at reasonable time during normal business hours, to visit and inspect
any of the properties of the Borrower or any of its Subsidiaries, to examine the
books of account of the Borrower and its Subsidiaries (and to make copies
thereof and extracts therefrom), and to discuss the affairs, finances and
accounts of the Borrower and its Subsidiaries with, and to be advised as to the
same by, its and their officers, and to conduct examinations and verifications
(whether by internal commercial finance examiners or independent auditors) of
all components included in the Borrowing Base, all at such reasonable times and
intervals as the Administrative Agent or any Lender may reasonably request.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.9.2.&nbsp;&nbsp;<U>Collateral Reports</U>.</B>&nbsp;&nbsp;No more
frequently than twice during each calendar year, or more frequently as
determined by the Administrative Agent if an Event of Default shall have
occurred and be continuing, upon the request of the Administrative Agent, the
Borrower will obtain and deliver to the Administrative Agent, or, if the
Administrative Agent so elects, will cooperate with the Administrative Agent in
the Administrative Agent&#146;s obtaining, a report of an independent collateral
auditor satisfactory to the Administrative Agent (which may be affiliated with
one of the Lenders) with respect to the Containers and/or the other components
included in the Borrowing Base, which report shall indicate whether or not the
information set forth in the Borrowing Base Report most recently delivered is
accurate and complete in all material respects based upon a review by such
auditors of the Accounts Receivable (including verification with respect to the
amount, aging, identity and credit of the respective account debtors and the
billing practices of the Borrower or its applicable Subsidiary) and Containers
(including verification as to the value, location and respective types). All
such collateral value reports shall be conducted and made at the expense of the
Borrower.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.9.3.&nbsp;&nbsp;<U>Appraisals</U>.</B>&nbsp;&nbsp;No more frequently than
once each calendar year, or more frequently as determined by the Administrative
Agent if an Event of Default shall have occurred and be continuing, upon the
reasonable request of the Administrative Agent, the Borrower will obtain and
deliver to the Administrative Agent appraisal reports in form and substance and
from appraisers satisfactory to the Administrative Agent, stating (a) the then
current fair market, orderly liquidation and forced liquidation values of all or
any portion of the equipment or real estate owned by the Borrower or any of its
Subsidiaries and (b) the then current business value of each of the Borrower and
its Subsidiaries. All such appraisals shall be conducted and made at the expense
of the Borrower.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.9.4.&nbsp;&nbsp;<U>Environmental Assessments</U>.</B>&nbsp;&nbsp;Upon
reasonable notice by the Administrative Agent, under any of the circumstances
described herein, the Administrative Agent may, from time to time, upon the
direction of the Required Lenders, for the purpose of assessing and ensuring the
value of any Real Estate, obtain one or more environmental assessments or audits
of such Real Estate prepared by a hydrogeologist, an independent engineer or
other qualified consultant or expert approved by the Administrative Agent to
evaluate or confirm (a) whether any Hazardous Materials are present in the soil
or water at such Real Estate and (b) whether the use and operation of such Real
Estate complies with all Environmental Laws. Environmental assessments may be
obtained (a) in the event the Borrower purchases any Real Estate without
providing the Lenders with copies of satisfactory environmental assessments or
audit obtained by the Borrower, (b) if the Administrative Agent or Required
Lenders have a reasonable objective basis to suspect that there has been a
&#147;release&#148; or threatened &#147;release&#148; of any Hazardous Substance
or (c) with respect to any Real Estate in which the Administrative Agent has a
security interest, after the occurrence of a Default of Event of Default.
Environmental assessments may include without limitation detailed visual
inspections of such Real Estate including, without limitation, any and all
storage areas, storage tanks, drains, dry wells and leaching areas, and the
taking of soil samples, surface water samples and ground water samples, as well
as such other investigations or analyses as the Administrative Agent deems
appropriate. The reasonable costs and expenses of such environmental assessments
shall be borne by the Borrower.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.9.5.&nbsp;&nbsp;<U>Communications with Accountants</U>.</B>&nbsp;&nbsp;The
Borrower authorizes the Administrative Agent and, if accompanied by the
Administrative Agent, the Lenders to communicate directly with the
Borrower&#146;s independent certified public accountants regarding the financial
statements delivered pursuant to &sect;8.4 and, in connection therewith,
authorizes such accountants to disclose to the Administrative Agent and the
Lenders any and all financial statements and other supporting financial
documents and schedules including copies of any management letter with respect
to the business, financial condition and other affairs of the Borrower or any of
its Subsidiaries. At the request of the Administrative Agent, the Borrower shall
deliver a letter addressed to such accountants instructing them to comply with
the provisions of this &sect;8.9.5.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.10.&nbsp;&nbsp;<U>Compliance with Laws, Contracts, Licenses, and
Permits</U>.</B>&nbsp;&nbsp;The Borrower will, and will cause each of its
Subsidiaries to, comply (a) in all material respects with the applicable laws
and regulations wherever its business is conducted, including all Environmental
Laws, (b) with the provisions of its Governing Documents, (c) with all
agreements and instruments by which it or any of its properties may be bound and
(d) with all applicable decrees, orders, and judgments. If any authorization,
consent, approval, permit or license from any officer, agency or instrumentality
of any government shall become necessary or required in order that the Borrower
or any of its Subsidiaries may fulfill any of its obligations hereunder or any
of the other Loan Documents to which the Borrower or such Subsidiary is a party,
the Borrower will, or (as the case may be) will cause such Subsidiary to,
immediately take or cause to be taken all reasonable steps within the power of
the Borrower or such Subsidiary to obtain such authorization, consent, approval,
permit or license and furnish the Administrative Agent and the Lenders with
evidence thereof. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.11.&nbsp;&nbsp;<U>Employee Benefit Plans</U>.</B>&nbsp;&nbsp;The Borrower
will (a) promptly upon filing the same with the Department of Labor or Internal
Revenue Service, furnish to the Administrative Agent a copy of the most recent
actuarial statement required to be submitted under &sect;103(d) of ERISA and
Annual Report, Form 5500, with all required attachments, in respect of each
Guaranteed Pension Plan, (b) promptly upon receipt or dispatch, furnish to the
Administrative Agent any notice, report or demand sent or received in respect of
a Guaranteed Pension Plan under &sect;&sect;302, 4041, 4042, 4043, 4063, 4065,
4066 and 4068 of ERISA, or in respect of a Multiemployer Plan, under
&sect;&sect;4041A, 4202, 4219, 4242, or 4245 of ERISA<I>.</I> </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.12.&nbsp;&nbsp;<U>Use of Proceeds</U>.</B>&nbsp;&nbsp;The Borrower will use
the proceeds of the Revolving Credit Loans and obtain Letters of Credit solely
for the purposes set forth in &sect;7.17.1. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.13.&nbsp;&nbsp;<U>Bank Accounts</U>.</B>&nbsp;&nbsp;The Borrower will, and
will cause each of its Subsidiaries to, together with the employees, agents and
other Persons acting on behalf of the Borrower or such Subsidiary, receive and
hold in trust for the Administrative Agent and the Lenders all payments
constituting proceeds of Collateral which come into their possession or under
their control and, immediately upon receipt thereof, deposit such payments in
the form received, with any appropriate endorsements, in one of the accounts
designated as a central depository account on <U>Schedule</U>&nbsp;<U>7.20</U>.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.14.&nbsp;&nbsp;<U>Additional Mortgaged Property</U>.</B> </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If, after the Closing Date, the
Borrower or any of its Subsidiaries acquires a fee interest in Real Estate, the
Borrower shall, or shall cause such Subsidiary to, deliver, within thirty (30)
days of such acquisition, to the Administrative Agent for the benefit of the
Lenders and the Administrative Agent a fully executed valid and enforceable
first priority mortgage or deed of trust over such acquired Real Estate free and
clear of all defects and encumbrances except for Permitted Liens. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If, after the Closing Date, the
Borrower intends to lease Real Estate, or to lease office space where it intends
to maintain books and records relating to its business, the Borrower shall use
reasonable best efforts to ensure that such lease permits the Administrative
Agent to obtain a first priority leasehold mortgage over such leased Real Estate
and to obtain from the landlord a waiver in form and substance satisfactory to
the Administrative Agent which acknowledges and consents to the Administrative
Agent&#146;s Liens on the personal property of the Borrower maintained on such
leased property and subordinates the landlord&#146;s claim to such property to
that of the Administrative Agent and permits the Administrative Agent to enter
such Real Estate in connection with the exercise of the Administrative
Agent&#146;s rights with respect to such Liens. Upon the execution of such
lease, the Borrower shall promptly deliver to the Administrative Agent a copy of
such lease, and, to the extent permitted by the applicable lease, the Borrower
shall deliver forthwith to the Administrative Agent for the benefit of the
Lenders and the Administrative Agent a fully executed, valid and enforceable
first priority leasehold mortgage over such leased Real Estate, free and clear
of all defects and encumbrances except for Permitted Liens. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each such mortgage, leasehold
mortgage or deed of trust referred to in &sect;8.14(a) and (b) shall be in form
and substance satisfactory to the Administrative Agent, together with title
insurance policies, surveys, evidences of insurance with the Administrative
Agent named as loss payee and additional insured, legal opinions and other
documents and certificates with respect to such Real Estate (such policies (for
amounts that correspond to the fair market value of such property), surveys,
evidence of insurance, opinions and other documents and certificates referred to
in this &sect;8.14 as reasonably required by the Administrative Agent.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.15.&nbsp;&nbsp;<U>Interests in Intellectual
Property</U>.&nbsp;&nbsp;</B>The Borrower shall, upon acquisition or creation of
any right, title or interest in any patent, trademark registrations, copyright
registrations or service mark registrations, or in any pending applications for
the same, promptly, but in no event later than thirty (30) days after such
creation or acquisition, notify the Administrative Agent of the same. The
Borrower shall, upon request of the Administrative Agent, execute, acknowledge
and deliver all such documents and instruments as the Administrative Agent may
reasonably require to confirm the Administrative Agent&#146;s security interest
for the benefit of the Lenders in and to any such patent, trademark or service
mark registrations, or applications for the same, as part of the Collateral
hereunder and appoints the Administrative Agent as the Borrower&#146;s
attorney-in-fact to execute and file the same. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.16.&nbsp;&nbsp;<U>New Guarantors</U>. &nbsp;&nbsp;</B>In the event that the
Borrower obtains, in accordance with the provisions of &sect;9.15 hereof, the
consent of the Required Lenders to create or acquire a new direct or indirect
Subsidiary, such Subsidiary shall concurrently with such event, or as soon as
practicable thereafter, execute and deliver to the Administrative Agent an
instrument of joinder and accession, in form and substance satisfactory to the
Administrative Agent and the Required Lenders, pursuant to which such
newly-created or acquired Subsidiary shall join the Guaranty and, subject to
&sect;8.17, the applicable Security Documents, and shall accede to all of the
rights and obligations of a Guarantor thereunder, and, pursuant thereto, shall,
<U>inter</U> <U>alia</U>, guaranty the full payment and performance of the
Obligations. Further, the Borrower and such Subsidiary shall execute and deliver
to the Administrative Agent such other documentation as the Administrative Agent
may reasonably request in furtherance of the intent of this &sect;8.16,
including, without limitation, an updated <U>Schedule</U> <U>7.19</U> and
documentation of the type required to be supplied by the Borrower and initial
Guarantors as a condition precedent to the initial Revolving Credit Loans made
hereunder pursuant to &sect;11 hereof. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.17.&nbsp;&nbsp;<U>Collateral Security of Guarantors</U>.</B>&nbsp;&nbsp;If,
at any time, any Guarantor owns assets with an aggregate market value or book
value in excess of $2,000,000, such Guarantor shall promptly notify the
Administrative Agent thereof and, upon the request of the Administrative Agent,
such Guarantor shall become a party to any instruments, agreements and documents
and provide such other documentation as the Administrative Agent shall deem
necessary or desirable in order to provide a perfected first priority security
interest (subject only to Permitted Liens that are entitled to priority under
applicable law) to the Administrative Agent, for the benefit of the
Administrative Agent and the Lenders, in all of the assets of such Guarantor
including, without limitation, security agreements, pledge agreements, mortgages
or deeds of trust, Uniform Commercial Code searches and filings (or the
equivalent thereof in any applicable foreign jurisdiction), favorable opinions
of counsel (including local counsel) to such Guarantor (which shall cover, among
other things, the legality, validity, binding effect and enforceability of,
inter alia, the all such documents) and other documentation of the type required
to be supplied by the Borrower as a condition precedent to the initial Revolving
Credit Loans made hereunder pursuant to &sect;11 hereof, all in form, content
and scope reasonably satisfactory to the Administrative Agent. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>8.18.&nbsp;&nbsp;<U>Further Assurances</U>.</B>&nbsp;&nbsp;The Borrower will,
and will cause each of its Subsidiaries to, cooperate with the Lenders and the
Administrative Agent and execute such further instruments and documents as the
Lenders or the Administrative Agent shall reasonably request to carry out to
their satisfaction the transactions contemplated by this Credit Agreement and
the other Loan Documents. </FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>9.&nbsp;&nbsp;<U>CERTAIN NEGATIVE COVENANTS</U>.</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Borrower covenants and agrees that, so long as any Revolving Credit Loan,
Unpaid Reimbursement Obligation, Letter of Credit, Swing Line Loan or Revolving
Credit Note is outstanding or any Lender has any obligation to make any
Revolving Credit Loans or the L/C Issuer has any obligation to issue, extend or
renew any Letters of Credit or the Swing Line Lender has any obligation to make
Swing Line Loans: </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.1.&nbsp;&nbsp;<U>Restrictions on Indebtedness</U>.</B>&nbsp;&nbsp;The
Borrower will not, and will not permit any of its Subsidiaries to, create,
incur, assume, guarantee or be or remain liable, contingently or otherwise, with
respect to any Indebtedness other than: </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indebtedness to the Lenders and
the Administrative Agent arising under any of the Loan Documents;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indebtedness in respect of taxes,
assessments, governmental charges or levies and claims for labor, materials and
supplies to the extent that payment therefor shall not at the time be required
to be made in accordance with the provisions of &sect;8.8;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indebtedness in respect of
judgments or awards that have been in force for less than the applicable period
for taking an appeal so long as execution is not levied thereunder or in respect
of which the Borrower or such Subsidiary shall at the time in good faith be
prosecuting an appeal or proceedings for review and in respect of which a stay
of execution shall have been obtained pending such appeal or review;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; endorsements for collection,
deposit or negotiation and warranties of products or services, in each case
incurred in the ordinary course of business;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subordinated Debt;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indebtedness (in addition to
similar Indebtedness permitted under clause (g) hereof) incurred in connection
with the acquisition or lease after the date hereof of any real or personal
property by the Borrower or such Subsidiary or under any Capitalized Leases,
<U>provided</U> <U>that</U> (i) the aggregate principal amount of such
Indebtedness of the Borrower and its Subsidiaries (exclusive of the aggregate
principal amount of Nonrecourse Loans) shall not exceed $25,000,000 outstanding
at any one time and (ii) the principal amount of such Indebtedness secured by or
relating to the lease of any particular property shall not exceed 100% of the
purchase price of such property;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indebtedness existing on the date
hereof and listed and described on <U>Schedule</U>&nbsp;<U>9.1</U> hereto; and
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; any renewal or refinancing of any
Indebtedness permitted under this &sect;9.1; <U>provided</U> that any such
refinancing or renewal does not (i) increase the aggregate amount of such
Indebtedness, (ii) increase the interest rate or fees applicable to, or shorten
the weighted average life to maturity of, such Indebtedness, (iii) change, alter
or modify the terms of such Indebtedness in any manner which violates either
&sect;9.8 hereof or the Subordination and Intercreditor Agreement or (iv) add to
the collateral, if any, securing such Indebtedness;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indebtedness of the Borrower and
its Subsidiaries consisting of short-term trade credit extended to the Borrower
or such Subsidiary in the ordinary course of such Person&#146;s business in
connection with the acquisition of Containers and other equipment;
<U>provided</U> that such Indebtedness shall not be in existence for more than
180 days after the occurrence of the transaction giving rise thereto;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indebtedness in respect of
Interest Rate Protection Agreements;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indebtedness of a Subsidiary of
the Borrower to the Borrower consisting of Investments permitted by
&sect;9.3(e); and
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indebtedness consisting of
obligations (contingent or otherwise) of the Borrower or any Subsidiary existing
or arising under any Swap Contract entered into with any Lender or the
Administrative Agent, <U>provided</U> that (i) such obligations are (or were)
entered into by such Person in the ordinary course of business for the purpose
of directly mitigating risks associated with liabilities, commitments,
investments, assets, or property held or reasonably anticipated by such Person,
or changes in the value of securities issued by such Person, and not for
purposes of speculation or taking a &#147;market view;&#148; and (ii) such Swap
Contract does not contain any provision exonerating the non-defaulting party
from its obligation to make payments on outstanding transactions to the
defaulting party.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.2.&nbsp;&nbsp;<U>Restrictions on Liens</U>.</B> </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Permitted Liens</U>.
</B>The Borrower will not, and will not permit any of its Subsidiaries to, (a)
create or incur or suffer to be created or incurred or to exist any Lien upon
any of its property or assets of any character whether now owned or hereafter
acquired, or upon the income or profits therefrom; (b) transfer any of such
property or assets or the income or profits therefrom for the purpose of
subjecting the same to the payment of Indebtedness or performance of any other
obligation in priority to payment of its general creditors; (c) acquire, or
agree or have an option to acquire, any property or assets upon conditional sale
or other title retention or purchase money security agreement, device or
arrangement; (d) suffer to exist for a period of more than thirty (30) days
after the same shall have been incurred any Indebtedness or claim or demand
against it that if unpaid might by law or upon bankruptcy or insolvency, or
otherwise, be given any priority whatsoever over its general creditors; or (e)
sell, assign, pledge or otherwise transfer any &#147;<U>receivables</U>&#148; as
defined in clause (g) of the definition of the term
&#147;<U>Indebtedness</U>,&#148; with or without recourse; <U>provided</U> that
the Borrower or any of its Subsidiaries may create or incur or suffer to be
created or incurred or to exist:
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(i) Liens in favor of the Borrower on all or part of the assets of Subsidiaries
of the Borrower securing Indebtedness owing by Subsidiaries of the Borrower to
the Borrower;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(ii) Liens to secure taxes, assessments and other government charges in respect
of obligations not overdue or Liens on properties to secure claims for labor,
material or supplies in respect of obligations not overdue;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(iii) deposits or pledges made in connection with, or to secure payment of,
workmen&#146;s compensation, unemployment insurance, old age pensions or other
social security obligations;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(iv) Liens on properties in respect of judgments or awards, the Indebtedness
with respect to which is permitted by &sect;9.1(c);
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(v) Liens of carriers, warehousemen, mechanics and materialmen, and other like
Liens on properties, in existence less than 120 days from the date of creation
thereof in respect of obligations not overdue;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(vi) encumbrances on Real Estate consisting of easements, rights of way, zoning
restrictions, restrictions on the use of real property and defects and
irregularities in the title thereto, landlord&#146;s or lessor&#146;s liens
under leases to which the Borrower or a Subsidiary of the Borrower is a party,
and other minor Liens, <U>provided</U> that none of such Liens (A) interferes
materially with the use of the property affected in the ordinary conduct of the
business of the Borrower and its Subsidiaries, and (B) individually or in the
aggregate have a Material Adverse Effect;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(vii) Liens existing<I></I>on the date hereof and listed on
<U>Schedule</U>&nbsp;<U>9.2</U> hereto;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(viii) purchase money security interests in or purchase money mortgages on real
or personal property acquired (in the case of purchase money security interests)
or leased (in the case of Capitalized Leases) after the Closing Date to secure
purchase money Indebtedness or Capitalized Leases of the type and amount
permitted by &sect;9.1(f), which security interests or mortgages cover only the
real or personal property so acquired or leased and any proceeds thereof
(including, without limitation, leases, Accounts Receivable, instruments and
documents);
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(ix) Liens on assets and property of the Borrower and its Subsidiaries in favor
of Interpool that secure the Interpool Subordinated Debt; <U>provided</U>, that
all such Liens are at all times junior and subordinate to the Liens granted by
the Borrower to the Administrative Agent for the benefit of the Lenders pursuant
to the Security Documents on such terms set forth in the Subordination
Documents;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(x) Liens in favor of the Administrative Agent for the benefit of the Lenders
and the Administrative Agent securing the Obligations;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(xi) Liens consisting of the interest of a lessee under any lease with respect
to Containers where the Borrower is the lessor;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(xii) Liens on the property listed on <U>Schedule</U> <U>9.2</U> hereto that are
granted to secure any refinancing or renewal of Indebtedness permitted under
&sect;9.1, which refinancing or renewal is permitted under &sect;9.1(h) hereof
(subject to all the provisos contained therein); provided that (a) such Liens
encumber the same property (and no additional assets or property of the
Borrower) as secured the Indebtedness that was so refinanced or renewed and (b)
the aggregate amount of Indebtedness secured by such property has not increased
as a result of such refinancing or renewal; and
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(xiii) interests of lessors in property leased to the Borrower or a Subsidiary
under &sect;9.1(f).
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.2.2 <U>Restrictions on Negative Pledges and Upstream Limitations</U>.</B>
The Borrower will not, nor will it permit any of its Subsidiaries to (a) enter
into or permit to exist any arrangement or agreement (excluding the Credit
Agreement and the other Loan Documents) which directly or indirectly prohibits
the Borrower or any of its Subsidiaries from creating, assuming or incurring any
Lien upon its properties, revenues or assets or those of any of its Subsidiaries
whether now owned or hereafter acquired, or (b) enter into any agreement,
contract or arrangement (excluding the Credit Agreement and the other Loan
Documents) restricting the ability of any Subsidiary of the Borrower to pay or
make dividends or distributions in cash or kind to the Borrower, to make loans,
advances or other payments of whatsoever nature to the Borrower, or to make
transfers or distributions of all or any part of its assets to the Borrower; in
each case other than (i) restrictions on specific assets which assets are the
subject of purchase money security interests to the extent permitted under
&sect;9.2.1, and (ii) customary anti-assignment provisions contained in leases
and licensing agreements entered into by the Borrower or such Subsidiary in the
ordinary course of its business. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.3.&nbsp;&nbsp;<U>Restrictions on Investments</U>.</B>&nbsp;&nbsp;The
Borrower will not, and will not permit any of its Subsidiaries to, make or
permit to exist or to remain outstanding any Investment except Investments in:
</FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; marketable direct or guaranteed
obligations of the United States of America or Japan that mature within one (1)
year from the date of purchase by the Borrower;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; demand deposits, certificates of
deposit, bankers acceptances and time deposits of United States or Japanese
banks having total assets in excess of $1,000,000,000;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; securities commonly known as
&#147;<U>commercial</U> <U>paper</U>&#148; issued by a corporation organized and
existing under the laws of Japan or the United States of America or any state
thereof that at the time of purchase have been rated and the ratings for which
are not less than &#147;P&nbsp;1&#148; if rated by Moody&#146;s, and not less
than &#147;A&nbsp;1&#148; if rated by S&amp;P;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments existing on the date
hereof and listed on <U>Schedule</U>&nbsp;<U>9.3</U> hereto;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments by the Borrower in
Subsidiaries that are Guarantors; <U>provided</U> that the aggregate amount of
such Investments does not exceed $3,000,000 at any time;
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments consisting of the
Guaranty; and
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments consisting of advances
to employees pursuant to the Staff Loan Program, <U>provided</U> that the
aggregate amount of such Investments shall not exceed $1,500,000 at any time;
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.4.&nbsp;&nbsp;<U>Restricted Payments</U>.</B>&nbsp;&nbsp;The Borrower will
not make any Restricted Payments except that, so long as no Default or Event of
Default then exists or would result from such payment, the Borrower may make (i)
Distributions consisting of the redemption of up to 2,679 shares of the Capital
Stock of the Borrower from certain executive employees of the Borrower (other
than Mr. Hiromitsu Ogawa and members of his immediate family) upon the
termination of such Person&#146;s employment with the Borrower, (ii) payments to
Interpool and its Affiliates pursuant to the provisions of any of the documents
listed on
<U>Schedule</U> <U>7.15</U> hereto, (iii) payments of interest with respect to the
Interpool Subordinated Debt pursuant to, and in accordance with, the terms and conditions
of the Subordination Documents, (iv) the Closing Interpool Repayment and (v) prepayments
of principal with respect to the Interpool Subordinated Debt permitted pursuant to
&sect;9.8. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.5.&nbsp;&nbsp;<U>Merger, Acquisitions and Consolidation; Disposition of
Assets</U>.</B> </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.5.1.&nbsp;&nbsp;<U>Mergers and Acquisitions</U>.</B>&nbsp;&nbsp;The
Borrower will not, and will not permit any of its Subsidiaries to, become a
party to any merger or consolidation, or agree to or effect any asset
acquisition or stock acquisition (other than the acquisition of assets in the
ordinary course of business consistent with past practices) except the merger or
consolidation of one or more of the Subsidiaries of the Borrower with and into
the Borrower, with the Borrower as the surviving entity, or with and into a
Subsidiary party to the Guaranty, with the Subsidiary party to the Guaranty as
the surviving entity, or the merger or consolidation of two or more Subsidiaries
of the Borrower.
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.5.2.&nbsp;&nbsp;<U>Disposition of Assets</U>.</B>&nbsp;&nbsp;The Borrower
will not, and will not permit any of its Subsidiaries to, become a party to or
agree to or effect any disposition of assets, other than the disposition of
assets in the ordinary course of business consistent with past practices,
<U>provided</U> that, in connection with any such disposition of Collateral
consisting of Containers having a Net Book Value of $1,000,000 or more and the
proceeds thereof, the Borrower shall deliver to the Administrative Agent an
updated Borrowing Base Report demonstrating the Borrower&#146;s compliance with
the lending limitations set forth in &sect;2.1 hereof.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.6.&nbsp;&nbsp;<U>Sale and Leaseback</U>.</B>&nbsp;&nbsp;Unless the Required
Lenders shall have given their prior written consent, the Borrower will not, and
will not permit any of its Subsidiaries to, enter into any arrangement, directly
or indirectly, whereby the Borrower or any Subsidiary of the Borrower shall sell
or transfer any property owned by it in order then or thereafter to lease such
property or lease other property that the Borrower or any Subsidiary of the
Borrower intends to use for substantially the same purpose as the property being
sold or transferred, except for such transactions as would be permitted under
&sect;9.1(f). </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.7.&nbsp;&nbsp;<U>Compliance with Environmental Laws</U>.</B>&nbsp;&nbsp;The
Borrower will not, and will not permit any of its Subsidiaries to, (a) use any
of the Real Estate or any portion thereof for the handling, processing, storage
or disposal of Hazardous Substances, (b) cause or permit to be located on any of
the Real Estate any underground tank or other underground storage receptacle for
Hazardous Substances, (c) generate any Hazardous Substances on any of the Real
Estate, (d) conduct any activity at any Real Estate or use any Real Estate in
any manner so as to cause a release (i.e. releasing, spilling, leaking, pumping,
pouring, emitting, emptying, discharging, injecting, escaping, leaching,
disposing or dumping) or threatened release of Hazardous Substances on, upon or
into the Real Estate or (e) otherwise conduct any activity at any Real Estate or
use any Real Estate in any manner that would violate any Environmental Law or
bring such Real Estate in violation of any Environmental Law. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.8.&nbsp;&nbsp;<U>Subordinated Debt; Master Lease
Agreements</U>.</B>&nbsp;&nbsp;The Borrower will not, nor will it permit any of
its Subsidiaries to, amend, supplement or otherwise modify the terms of any of
the Subordinated Debt, any of the Subordination Documents or the Master Lease
Agreements (a) which amendment, supplement or modification effects any increase
in the principal amount of the Subordinated Debt except through the issuance of
additional Subordinated Notes in payment of interest on the Subordinated Notes,
the interest rate thereon or any fees thereunder, or shortens the maturity or
average life to maturity thereof, adds or modifies to make more burdensome to
the Borrower the terms of any required prepayments, redemptions, or repurchases
(other than waivers or deferrals thereof) thereunder or under the Master Lease
Agreements, modifies the terms of the subordination provisions thereof, or makes
more burdensome to the Borrower or such Subsidiary, the financial covenants
contained therein or in the Master Lease Agreements or adds additional such
covenants or events of default therein or in the Master Lease Agreements or (b)
which amendment, supplement or modification relates to other terms and
provisions of the Subordinated Debt or any Master Lease Agreement and the
cumulative effect of which is to make the Subordinated Debt or such Master Lease
Agreement materially more restrictive of the Borrower or its Subsidiaries, or
materially adversely affect the Administrative Agent&#146;s or the Lender&#146;s
rights or interests thereunder or under the Loan Documents or the
Borrower&#146;s ability to fulfill its obligations under the Loan Documents. The
Borrower will not, nor will it permit any of its Subsidiaries to prepay, redeem
or repurchase or issue any notice of redemption with respect to, or take any
other action which would require the Borrower or any of its Subsidiaries to
prepay, redeem or repurchase any of the Subordinated Debt or the Master Lease
Agreements; <U>provided</U> that, notwithstanding the foregoing, if no Default
or Event of Default has occurred and is continuing or would result from
therefrom, and otherwise subject to and in accordance with the provisions of the
Subordination and Intercreditor Agreement, (a) the Borrower may make regularly
scheduled payments of principal and interest on the Interpool Subordinated Debt
in accordance with &sect;&sect;2.3(b) and 2.6(b) of the Subordinated Note
Purchase Agreement (as such agreement is in effect on the date hereof);
<U>provided</U> that such regularly scheduled payments of principal under to
&sect;2.6(b) of the Subordinated Note Purchase Agreement shall not exceed
$1,683,000 in any quarter; (b) the Borrower may make the Closing Interpool
Repayment, (c) the Borrower may prepay (in whole or in part) the outstanding
amount of the Master Lease Agreements and (d) the Borrower may prepay (in whole
or in part) the outstanding amount of Interpool Subordinated Debt (other than
the Closing Interpool Repayment); <U>provided</U> that, in connection with any
prepayment under the foregoing clause (d), (i) the Total Leverage Ratio for the
most recently ended Reference Period, after giving pro forma effect to such
prepayment, shall not exceed 3.00:1.00, (ii) at the time of such prepayment, the
ratio of (x) Senior Funded Debt to (y) Consolidated Adjusted Tangible Net Worth
at such time shall not exceed 2.50:1.00, (iii) Excess Availability before and
immediately after giving effect to such prepayment shall not be less than
$10,000,000, and (iv) the Borrower shall deliver to the Administrative Agent and
the Lenders a certificate of a Responsible Officer, in form and substance
reasonably satisfactory to the Administrative Agent, certifying and
demonstrating compliance with the foregoing requirements in clauses (i) though
(iii) above. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.9.&nbsp;&nbsp;<U>Employee Benefit Plans</U>.</B>&nbsp;&nbsp;Neither the
Borrower nor any ERISA Affiliate will: </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; engage in any
&#147;<U>prohibited</U> <U>transaction</U>&#148; within the meaning of &sect;406
of ERISA or &sect;4975 of the Code which could result in a material liability
for the Borrower or any of its Subsidiaries; or
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; permit any Guaranteed Pension Plan
to incur an &#147;<U>accumulated</U> <U>funding</U> <U>deficiency</U>&#148;, as
such term is defined in &sect;302 of ERISA, whether or not such deficiency is or
may be waived; or
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; fail to contribute to any
Guaranteed Pension Plan to an extent which, or terminate any Guaranteed Pension
Plan in a manner which, could result in the imposition of a lien or encumbrance
on the assets of the Borrower or any of its Subsidiaries pursuant to
&sect;302(f) or &sect;4068 of ERISA; or
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; amend any Guaranteed Pension Plan
in circumstances requiring the posting of security pursuant to &sect;307 of
ERISA or &sect;401(a)(29) of the Code; or
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; permit or take any action which
would result in the aggregate benefit liabilities (within the meaning of
&sect;4001 of ERISA) of all Guaranteed Pension Plans exceeding the value of the
aggregate assets of such Plans, disregarding for this purpose the benefit
liabilities and assets of any such Plan with assets in excess of benefit
liabilities.
</TD>
</TR>
</TABLE>
<BR>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.10.</B>&nbsp;&nbsp;<B><U>Business Activities</U>.</B>&nbsp;&nbsp;The
Borrower will not, and will not permit any of its Subsidiaries to, engage
directly or indirectly (whether through Subsidiaries or otherwise) in any type
of business other than the businesses conducted by them on the Closing Date and
in related businesses. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.11.&nbsp;&nbsp;<U>Fiscal Year</U>.</B>&nbsp;&nbsp;The Borrower will not,
and will not permit any of its Subsidiaries to, change the date of the end of
its fiscal (or financial) year from that set forth in &sect;7.4.1.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.12.</B>&nbsp;&nbsp;<B><U>Transactions with
Affiliates</U>.</B>&nbsp;&nbsp;Except as otherwise permitted by the terms of
&sect;7.15, the Borrower will not, and will not permit any of its Subsidiaries
to, engage in any transaction with any Affiliate (other than for services as
employees, officers and directors), including any contract, agreement or other
arrangement providing for the furnishing of services to or by, providing for
rental of real or personal property to or from, or otherwise requiring payments
to or from any such Affiliate or, to the knowledge of the Borrower, any
corporation, partnership, trust or other entity in which any such Affiliate has
a substantial interest or is an officer, director, trustee or partner, on terms
more favorable to such Person than would have been obtainable on an
arm&#146;s-length basis in the ordinary course of business. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.13.&nbsp;&nbsp;<U>Bank Accounts</U>.</B>&nbsp;&nbsp;The Borrower will not,
and will not permit any of its Subsidiaries to, (a) establish any bank accounts
other than those accounts listed on <U>Schedule</U>&nbsp;<U>7.20</U>, without
the Administrative Agent&#146;s prior written consent, or (b) deposit into any
of the payroll accounts listed on <U>Schedule</U>&nbsp;<U>7.20</U> any amounts
in excess of amounts necessary to pay current payroll obligations from such
accounts. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.14.&nbsp;&nbsp;<U>Capital</U> <U>Stock</U>.</B>&nbsp;&nbsp;Unless it shall
in each instance have obtained the prior written consent of the Required
Lenders, the Borrower shall not (i) issue any new Capital Stock except (A) to
employees of the Borrower pursuant to employee stock option plans and (B) to
Interpool or Mr. Hiromitsu Ogawa, President of the Borrower, or (ii) convert any
shares of any existing class of Voting Stock into shares of any class of Capital
Stock which is not Voting Stock or (iii) amend its Governing Documents so as to
accomplish or permit any of the foregoing. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>9.15.&nbsp;&nbsp;<U>Creation of Subsidiaries</U>.</B> </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Borrower shall not, nor shall it permit any of its Subsidiaries to, create
or acquire any Subsidiary without the prior written consent of the Required
Lenders. </FONT></P>

<!-- MARKER FORMAT-SHEET="Stroock Head Major Center Bold" FSL="Default" -->
<P ALIGN=CENTER><FONT SIZE=3><B>10.&nbsp;&nbsp;<U>FINANCIAL COVENANTS</U>.</B></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent" FSL="Default" -->
<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrower covenants and agrees that, so long as any Revolving Credit Loan, Unpaid
Reimbursement Obligation, Letter of Credit, Swing Line Loan or Revolving Credit Note is
outstanding or any Lender has any obligation to make any Revolving Credit Loans or the L/C
Issuer has any obligation to issue, extend or renew any Letters of Credit or the Swing
Line Lender has any obligation to make Swing Line Loans: </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Sub 2 Left" FSL="Default" -->
<P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>10.1.&nbsp;&nbsp;<U>Total Leverage Ratio</U>.</B></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent" FSL="Default" -->
<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrower will not permit the Total Leverage Ratio, as at the end of any Reference Period
ending on or during any period described in the table set forth below, to exceed the ratio
set forth opposite such period in such table: </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%></TD>
<TD WIDTH=50%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Period</U></TD>
<TD WIDTH=30%>&nbsp;&nbsp;&nbsp;<U>Ratio</U></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%></TD>
<TD WIDTH=50%>Closing Date through June 29, 2007<BR>
June 30, 2007 and thereafter</TD>
<TD WIDTH=30%>3.50:1.00<BR>
3.25:1.00</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Stroock Para Flush" FSL="Default" -->
<P><FONT SIZE=3>Notwithstanding the foregoing, in the event that the Borrower prepays (in
whole or in part) the outstanding amount of Interpool Subordinated Debt (other than the
Closing Interpool Repayment), the Borrower will not permit the Total Leverage Ratio, as at
the end of any Reference Period ending on or after the date that such prepayment is made,
to exceed 3.00:1.00. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent" FSL="Default" -->
<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.2.&nbsp;&nbsp;<U>Fixed
Charge Coverage Ratio</U>.</B>&nbsp;&nbsp;The Borrower will not permit, as at the end of
any Reference Period, the ratio of (a) Consolidated Operating Cash Flow to (b)
Consolidated Total Debt Service to be less than 1.25:1.00. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent" FSL="Default" -->
<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.3.&nbsp;&nbsp;<U>Interest
Coverage</U>.</B>&nbsp;&nbsp;The Borrower will not, at the end of any Reference
Period, permit the ratio of (a) Consolidated EBITDA for such Reference Period to (b)
Consolidated Total Interest Expense for such Reference Period, to be less than 3.00:1.00. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent" FSL="Default" -->
<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.4.&nbsp;&nbsp;<U>Senior
Funded Debt to Consolidated Adjusted Tangible Net Worth</U>.</B>&nbsp;&nbsp;The Borrower
will not permit, as at any date of determination occurring during any period described in
the table set forth below, the ratio of (a) Senior Funded Debt to (d) Consolidated
Adjusted Tangible Net Worth to exceed the ratio set forth opposite such period in such
table: </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%></TD>
<TD WIDTH=50%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Period</U></TD>
<TD WIDTH=30%>&nbsp;&nbsp;&nbsp;<U>Ratio</U></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%></TD>
<TD WIDTH=50%>Closing Date through June 29, 2007<BR>
June 30, 2007 and thereafter</TD>
<TD WIDTH=30%>3.00:1.00<BR>
2.50:1.00</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Stroock Para Flush" FSL="Workstation" -->
<P><FONT SIZE=3>Notwithstanding the foregoing, in the event that the Borrower prepays (in
whole or in part) the outstanding amount of Interpool Subordinated Debt (other than the
Closing Interpool Repayment), the Borrower will not permit the ratio of (a) Senior Funded
Debt to (b) Consolidated Adjusted Tangible Net Worth, as at any date of determination
occurring on or after the date that such prepayment is made, to exceed 2.50:1.00. </FONT></P>

<!-- MARKER FORMAT-SHEET="Stroock Head Major Center Bold" FSL="Default" -->
<P ALIGN=CENTER><FONT SIZE=3><B>11.&nbsp;&nbsp;<U>CLOSING CONDITIONS</U>.</B></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent" FSL="Default" -->
<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
obligations of the Lenders to make the initial Revolving Credit Loans and of the L/C
Issuer to issue any initial Letters of Credit and of the Swing Line Lender to make Swing
Line Loans on the Closing Date shall be subject to the satisfaction of the following
conditions precedent<I> </I>on or prior to May 15, 2005. </FONT></P>

<P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>11.1.&nbsp;&nbsp;<U>Loan Documents etc.</U></B></FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>11.1.1.&nbsp;&nbsp;<U>Loan Documents</U>.</B>&nbsp;&nbsp;Each of the Loan
Documents shall have been duly executed and delivered by the respective parties
thereto, shall be in full force and effect and shall be in form and substance
satisfactory to each of the Lenders. Each Lender shall have received a fully
executed copy of each such document. </FONT>
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%></TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>11.1.2.&nbsp;&nbsp;<U>Subordination
Documents; Master Lease Agreements</U>.</B></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%></TD>
<TD WIDTH=90%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>11.1.2.1.&nbsp;&nbsp;<U>Subordination Documents</U>.</B></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Level 3" FSL="Default" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Interpool Subordinated Debt shall have been amended on terms and conditions acceptable to
the Administrative Agent and each of the Lenders in accordance with the terms hereof and
of the Subordination and Intercreditor Agreement, and the Administrative Agent shall have
received a copy of the resolutions of Interpool approving the transactions contemplated by
such amendment. Each Lender shall have received a duly executed copy, certified by an
authorized officer of the Borrower as true, correct and complete and in full force and
effect as of the Closing Date, of each of the Subordination Documents, as amended. </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Level 3" FSL="Default" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>11.1.2.2.&nbsp;&nbsp;<U>Master Lease Agreements</U>.</B><BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of the Master Lease Agreements shall have been amended on terms and conditions acceptable
to the Administrative Agent and each of the Lenders and in accordance with the terms
hereof. Each Lender shall have received a duly executed copy, certified by an authorized
officer of the Borrower as true, correct and complete and in full force and effect as of
the Closing Date, of each of the Master Lease Agreements, as amended. </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Level 3" FSL="Default" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>11.1.2.3.&nbsp;&nbsp;<U>Subordination and Intercreditor Agreement</U>.</B><BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Subordination and Intercreditor Agreement shall have been amended on terms and conditions
acceptable to the Administrative Agent and each of the Lenders in accordance with the
terms hereof, and the Administrative Agent shall have received a copy of the resolutions
of Interpool approving the transactions contemplated by such amendment. Each Lender shall
have received a duly executed copy, certified by an authorized officer of the Borrower as
true, correct and complete and in full force and effect as of the Closing Date, of such
Subordination and Intercreditor Agreement, as amended. </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Large Indent" FSL="Default" -->
<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>11.2.&nbsp;&nbsp;<U>Certified
Copies of Governing Documents</U>.</B>&nbsp;&nbsp;Each of the Lenders shall have received
from the Borrower and each of its Subsidiaries a copy, certified by a duly authorized
officer of such Person to be true and complete on the Closing Date, of each of its
Governing Documents as in effect on such date of certification. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent" FSL="Default" -->
<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>11.3.&nbsp;&nbsp;<U>Corporate
or Other Action</U>.</B>&nbsp;&nbsp;All corporate (or other) action necessary for the
valid execution, delivery and performance by the Borrower and each of its Subsidiaries of
this Credit Agreement and the other Loan Documents to which it is or is to become a party
shall have been duly and effectively taken, and evidence thereof satisfactory to the
Lenders shall have been provided to each of the Lenders. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent" FSL="Default" -->
<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>11.4.&nbsp;&nbsp;<U>Incumbency
Certificate</U>.</B>&nbsp;&nbsp;Each of the Lenders shall have received from the Borrower
and each of its Subsidiaries an incumbency certificate, dated as of the Closing Date,
signed by a duly authorized officer of the Borrower or such Subsidiary, and giving the
name and bearing a specimen signature of each individual who shall be authorized: (a) to
sign, in the name and on behalf of each of the Borrower or such Subsidiary, each of the
Loan Documents and Subordination Documents to which the Borrower or such Subsidiary is or
is to become a party; (b) in the case of the Borrower, to make Loan Requests, Swing Line
Loan Notices and Conversion Requests and to apply for Letters of Credit; and (c) to give
notices and to take other action on its behalf under the Loan Documents. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent" FSL="Default" -->
<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>11.5.&nbsp;&nbsp;<U>Validity
of Liens</U>.</B>&nbsp;&nbsp;The Security Documents shall be effective to create in favor
of the Administrative Agent a legal, valid and enforceable first (except for Permitted
Liens entitled to priority under applicable law) security interest in and Lien upon the
Collateral. All filings, recordings, deliveries of instruments and other actions necessary
or desirable in the opinion of the Administrative Agent to protect and preserve such
security interests shall have been duly effected. The Administrative Agent shall have
received evidence thereof in form and substance satisfactory to the Administrative Agent. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>11.6.&nbsp;&nbsp;<U>Asset
List; Perfection Certificates and UCC Search Results</U>.</B>&nbsp;&nbsp;The
Administrative Agent shall have received from the Borrower a list detailing all of the
Borrower&#146;s and its Subsidiaries&#146; assets and properties as at the date stated
thereon (which shall be on or after February 28, 2005), and descriptions of any and all
Liens (other than Permitted Liens) encumbering any such assets as well as copies of any
and all loan documentation evidencing the Indebtedness to which any such Liens (other than
Permitted Liens) relate, all certified as true and accurate by a Responsible Officer of
the Borrower. The Administrative Agent shall have received from each of the Borrower and
its Subsidiaries completed and fully executed Perfection Certificates and the results of
Uniform Commercial Code searches (and the equivalent thereof in all applicable foreign
jurisdictions) with respect to the Collateral, indicating no Liens other than Permitted
Liens and otherwise in form and substance satisfactory to the Administrative Agent. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>11.7.&nbsp;&nbsp;<U>Certificates
of Insurance</U>.</B>&nbsp;&nbsp;The Administrative Agent shall have received (a) a
certificate of insurance from an independent insurance broker dated on or about the
Closing Date, identifying insurers, types of insurance, insurance limits, and policy
terms, and otherwise describing the insurance obtained in accordance with the provisions
of the Security Agreement and (b) certified copies of all policies evidencing such
insurance (or certificates therefore signed by the insurer or an agent authorized to bind
the insurer). </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>11.8.&nbsp;&nbsp;<U>Borrowing
Base Report</U>.</B>&nbsp;&nbsp;The Administrative Agent shall have received from the
Borrower the initial Borrowing Base Report, dated as of the Closing Date. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>11.9.&nbsp;&nbsp;<U>Financial
Condition</U>.</B>&nbsp;&nbsp;The Administrative Agent and each of the Lenders shall have
received from the Borrower the financial statements and projections referred to in
&sect;&sect;7.4.2 and 7.4.3 and shall be satisfied that such financial statements fairly
represent the financial position of the Borrower as of the respective dates of such
financial statements. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>11.10.&nbsp;&nbsp;<U>Opinion
of Counsel</U>.</B>&nbsp;&nbsp;Each of the Lenders and the Administrative Agent shall have
received a favorable legal opinion addressed to the Lenders and the Administrative Agent,
dated as of the Closing Date, in form and substance satisfactory to the Lenders and the
Administrative Agent, from (a) Perkins Coie LLP, counsel to the Borrower and its
Subsidiaries and (b) Stroock &amp; Stroock &amp; Lavan LLP, counsel to Interpool regarding
the enforceability of Interpool&#146;s obligations under the Loan Documents to which
Interpool is a party. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>11.11.&nbsp;&nbsp;<U>Payment
of Fees</U>.</B>&nbsp;&nbsp;The Borrower shall have paid to the Lenders or the
Administrative Agent, as appropriate, the fees referred to in &sect;5.1, together with the
reasonable fees, expenses and disbursements of the Administrative Agent&#146;s Special
Counsel as of the Closing Date. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>11.12.&nbsp;&nbsp;<U>Payoff
Letter</U>.</B>&nbsp;&nbsp;Each of the Lenders and the Administrative Agent shall have
received a payoff letter from Fleet National Bank, as administrative agent under the
Existing Credit Agreement, indicating the amount of the loan obligations of the Borrower
to the Existing Lenders to be discharged on the Closing Date (which obligations shall not
include Existing Letters of Credit being continued hereunder) and an acknowledgment by
Fleet National Bank that upon receipt of such funds it will forthwith execute and/or
deliver to the Administrative Agent for filing all termination statements and take such
other actions as may be necessary to discharge all mortgages, deeds of trust and security
interests granted by the Borrower or any of its Subsidiaries securing the obligations
under the Existing Credit Agreement. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>11.13.&nbsp;&nbsp;<U>Commercial
Finance Exam, etc</U>.</B>&nbsp;&nbsp;The Administrative Agent shall have received the
results of a commercial finance exam conducted by Evergreen Collateral Consulting and any
such other reports or certificates as the Administrative Agent may reasonably request,
which, in each case, shall be satisfactory to the Administrative Agent in all respects. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
limiting the generality of the provisions of &sect;14.3, for purposes of determining
compliance with the conditions specified in this &sect;11, 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 notice from such Lender prior to the proposed Closing Date specifying
its objection thereto. </FONT></P>

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<P ALIGN=CENTER><FONT SIZE=3><B>12.&nbsp;&nbsp;<U>CONDITIONS TO ALL BORROWINGS</U>.</B></FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
obligations of the Lenders to make any Revolving Credit Loan, and of the Administrative
Agent to issue, extend or renew any Letter of Credit, or of the Swing Line Lender to make
any Swing Line Loans, in each case whether on or after the Closing Date, shall also be
subject to the satisfaction of the following conditions precedent: </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>12.1.&nbsp;&nbsp;
<U>Representations True; No Event of Default</U>.</B>&nbsp;&nbsp;Each of the representations and warranties
of any of the Borrower and its Subsidiaries contained in this Credit Agreement, the other
Loan Documents or in any document or instrument delivered pursuant to or in connection
with this Credit Agreement shall be true as of the date as of which they were made and
shall also be true at and as of the time of the making of such Revolving Credit Loan, or
such Swing Line Loan, or the issuance, extension or renewal of such Letter of Credit, with
the same effect as if made at and as of that time (except to the extent of changes
resulting from transactions contemplated or permitted by this Credit Agreement and the
other Loan Documents and changes occurring in the ordinary course of business that singly
or in the aggregate are not materially adverse, and to the extent that such
representations and warranties relate expressly to an earlier date) and no Default or
Event of Default shall have occurred and be continuing or would result from the making of
such Revolving Credit Loan, or such Swing Line Loan, or the issuance, extension or renewal
of such Letter of Credit. The Administrative Agent shall have received a certificate of
the Borrower signed by an authorized officer of the Borrower to such effect. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>12.2.&nbsp;&nbsp;<U>No
Legal Impediment</U>.</B>&nbsp;&nbsp;No change shall have occurred in any law or
regulations thereunder or interpretations thereof that in the reasonable opinion of any
Lender would make it illegal for such Lender to make any Revolving Credit Loan, Swing Line
Loan or to participate in the issuance, extension or renewal of such Letter of Credit or
in the reasonable opinion of the Administrative Agent would make it illegal for the
Administrative Agent to issue, extend or renew such Letter of Credit. </FONT></P>

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<P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>12.3.&nbsp;&nbsp;<U>Governmental Regulation</U>.</B></FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Lender shall have received such statements in substance and form reasonably satisfactory
to such Lender as such Lender shall require for the purpose of compliance with any
applicable regulations of the Comptroller of the Currency or the Board of Governors of the
Federal Reserve System. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>12.4.&nbsp;&nbsp;<U>Proceedings
and Documents</U>.</B>&nbsp;&nbsp;All proceedings in connection with the transactions
contemplated by this Credit Agreement, the other Loan Documents and all other documents
incident thereto shall be satisfactory in substance and in form to the Lenders and to the
Administrative Agent and the Administrative Agent&#146;s Special Counsel, and the Lenders,
the Administrative Agent and such counsel shall have received all information and such
counterpart originals or certified or other copies of such documents as the Administrative
Agent may reasonably request. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>12.5.&nbsp;&nbsp;<U>Borrowing
Base Report</U>.</B>&nbsp;&nbsp;The Administrative Agent shall have received the most
recent Borrowing Base Report required to be delivered to the Administrative Agent in
accordance with &sect;8.4(f). </FONT></P>

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<P ALIGN=CENTER><FONT SIZE=3><B>13.&nbsp;&nbsp;<U>EVENTS OF DEFAULT; ACCELERATION; ETC.</U></B></FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>13.1.&nbsp;&nbsp;<U>Events
of Default and Acceleration</U>.</B>&nbsp;&nbsp;If any of the following events
(&#147;<U>Events</U> <U>of</U> <U>Default</U>&#148; or, if the giving of notice or the
lapse of time or both is required, then, prior to such notice or lapse of time,
&#147;<U>Defaults</U>&#148;) shall occur: </FONT></P>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp; the Borrower shall fail to
pay any principal of the Revolving Credit Loans, Swing Line Loans or any
Reimbursement Obligation when the same shall become due and payable, whether at
the stated date of maturity or any accelerated date of maturity or at any other
date fixed for payment and, except in the case of an acceleration of the
maturity of the Loans, in which case an Event of Default shall occur
immediately, such failure shall continue for a period of five (5) days;
</FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;
               the Borrower or any of its Subsidiaries shall fail to pay any interest on the
               Revolving Credit Loans or the Swing Line Loans, any fees or other sums due
               hereunder or under any of the other Loan Documents, when the same shall become
               due and payable, whether at the stated date of maturity or any accelerated date
               of maturity or at any other date fixed for payment and, except in the case of an
               acceleration of the maturity of the Loans, in which case an Event of Default
               shall occur immediately, such failure shall continue for a period of five (5)
               days; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;
               the Borrower shall fail to comply with any of its covenants contained in
               &sect;&sect;8.1, 8.2 (other than with respect to moves within the State of
               California), 8.4, 8.5, 8.9, 8.12, 8.14, 8.15, 9 or 10 or any of the covenants
               contained in any of the Security Documents (<U>provided</U>, that this reference
               to covenants in the Security Documents shall not abridge grace periods provided
               with respect to certain Defaults also addressed in this Agreement); </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;
               the Borrower or any of its Subsidiaries shall fail to perform any term, covenant
               or agreement contained herein or in any of the other Loan Documents (other than
               those specified elsewhere in this &sect;13.1) for fifteen (15) days after
               written notice of such failure has been given to the Borrower by the
               Administrative Agent; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;
               any representation or warranty of the Borrower or any of its Subsidiaries in
               this Credit Agreement or any of the other Loan Documents or in any other
               document or instrument delivered pursuant to or in connection with this Credit
               Agreement shall prove to have been false, incorrect or incomplete in any
               material respect upon the date when made or deemed to have been made or
               repeated; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;
               the Borrower or any of its Subsidiaries shall (x) fail to pay at maturity, or
               within any applicable period of grace, (i) any obligation for borrowed money or
               credit received in an aggregate principal amount in excess of $100,000, (ii) any
               obligation in respect of any Capitalized Leases in an aggregate amount in excess
               of $100,000, or (iii) any obligation in respect of any operating leases with
               respect to which the present value (calculated at a discount rate of nine
               percent (9%) per annum) of the future obligations of the Borrower and its
               Subsidiaries thereunder exceeds $100,000, or (y) fail to observe or perform any
               material term, covenant or agreement contained in any agreement referenced in
               clauses (i) through (iii) above for such period of time as would permit
               (assuming the giving of appropriate notice if required) the holder or holders
               thereof or of any obligations issued thereunder to accelerate the maturity
               thereof, or any such holder or holders shall rescind or shall have a right to
               rescind the purchase of any such obligations; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;
               (i) the Borrower or any of its Subsidiaries shall make an assignment for the
               benefit of creditors, or admit in writing its inability to pay or generally fail
               to pay its debts as they mature or become due, or shall petition or apply for
               the appointment of a trustee or other custodian, liquidator or receiver of the
               Borrower or any of its Subsidiaries or of any substantial part of the assets of
               the Borrower or any of its Subsidiaries or shall commence any case or other
               proceeding relating to the Borrower or any of its Subsidiaries under any
               bankruptcy, reorganization, arrangement, insolvency, readjustment of debt,
               dissolution or liquidation or similar law of any jurisdiction, now or hereafter
               in effect, or shall take any action to authorize or in furtherance of any of the
               foregoing; or (ii) if any such petition or application shall be filed or any
               such case or other proceeding shall be commenced against the Borrower or any of
               its Subsidiaries and, with respect to this clause (ii) only, (x) the Borrower or
               any of its Subsidiaries shall indicate its approval thereof, consent thereto or
               acquiescence therein or (y) such petition or application shall not have been
               dismissed within thirty (30) days following the filing thereof; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;
               a decree or order is entered appointing any such trustee, custodian, liquidator
               or receiver or adjudicating the Borrower or any of its Subsidiaries bankrupt or
               insolvent, or approving a petition in any such case or other proceeding, or a
               decree or order for relief is entered in respect of the Borrower or any
               Subsidiary of the Borrower in an involuntary case under federal bankruptcy laws
               as now or hereafter constituted; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;
               there shall remain in force, undischarged, unsatisfied and unstayed, for more
               than thirty (30) days, whether or not consecutive, any final judgment against
               the Borrower or any of its Subsidiaries that, with other outstanding final
               judgments, undischarged, against the Borrower or any of its Subsidiaries exceeds
               in the aggregate $50,000; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;
               the holders of all or any part of the Subordinated Debt shall accelerate the
               maturity of all or any part of the Subordinated Debt, or a notice of redemption
               (mandatory or otherwise) shall be issued with respect to the Subordinated Debt,
               or the Subordinated Debt shall be prepaid, redeemed or repurchased in whole or
               in part (except as otherwise permitted under &sect;9.8 of this Credit
               Agreement); </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;
               Interpool shall fail to comply with any of the terms of the Subordination and
               Intercreditor Agreement; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;
               if any of the Loan Documents shall be cancelled, terminated, revoked or
               rescinded or the Administrative Agent&#146;s Liens in a substantial portion of
               the Collateral shall cease to be perfected, or shall cease to have the priority
               contemplated by the Security Documents, in each case otherwise than in
               accordance with the terms thereof or with the express prior written agreement,
               consent or approval of the Lenders, or any action at law, suit or in equity or
               other legal proceeding to cancel, revoke or rescind any of the Loan Documents
               shall be commenced by or on behalf of the Borrower or any of its Subsidiaries
               party thereto or any of their respective stockholders, or any court or any other
               governmental or regulatory authority or agency of competent jurisdiction shall
               make a determination that, or issue a judgment, order, decree or ruling to the
               effect that, any one or more of the Loan Documents is illegal, invalid or
               unenforceable in accordance with the terms thereof; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;
               the Borrower or any ERISA Affiliate incurs any liability to the PBGC or a
               Guaranteed Pension Plan in connection with the termination of a Guaranteed
               Pension Plan pursuant to Title IV of ERISA in an aggregate amount exceeding
               $500,000, or the Borrower or any ERISA Affiliate is assessed withdrawal
               liability pursuant to Title IV of ERISA by a Multiemployer Plan requiring
               aggregate annual payments exceeding $500,000, or any of the following occurs
               with respect to a Guaranteed Pension Plan: (i) an ERISA Reportable Event, or a
               failure to make a required installment or other payment (within the meaning of
               &sect;302(f)(1) of ERISA), <U>provided</U> that the Administrative Agent
               determines in its reasonable discretion that such event (A) could be expected to
               result in liability of the Borrower or any of its Subsidiaries to the PBGC or
               such Guaranteed Pension Plan in an aggregate amount exceeding $500,000 and (B)
               could constitute grounds for the termination of such Guaranteed Pension Plan by
               the PBGC, for the appointment by the appropriate United States District Court of
               a trustee to administer such Guaranteed Pension Plan or for the imposition of a
               Lien in favor of such Guaranteed Pension Plan; or (ii) the appointment by a
               United States District Court of a trustee to administer such Guaranteed Pension
               Plan; or (iii) the institution by the PBGC of proceedings to terminate such
               Guaranteed Pension Plan; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;
               the Borrower or any of its Subsidiaries shall be enjoined, restrained or in any
               way prevented by the order of any Governmental Authority from conducting any
               material part of its business and such order shall continue in effect for more
               than thirty (30) days; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;
               there shall occur any material damage to, or loss, theft or destruction of, any
               Collateral, whether or not insured, or any strike, lockout, labor dispute,
               embargo, condemnation, act of God or public enemy, or other casualty, which in
               any such case causes, for more than fifteen (15) consecutive days, the cessation
               or substantial curtailment of revenue producing activities at any facility of
               the Borrower or any of its Subsidiaries<I> </I>if such event or circumstance is
               not covered by business interruption insurance and would have a Material Adverse
               Effect; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;
               there shall occur the loss, suspension or revocation of, or failure to renew,
               any license or permit now held or hereafter acquired by the Borrower or any of
               its Subsidiaries if such loss, suspension, revocation or failure to renew would
               have a Material Adverse Effect; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;
               the Borrower or any of its Subsidiaries shall be indicted for a state or federal
               crime, or any civil or criminal action shall otherwise have been brought against
               the Borrower or any of its Subsidiaries, a punishment for which in any such case
               could include the forfeiture of any assets of the Borrower or such Subsidiary
               included in the Borrowing Base or any assets of the Borrower or such Subsidiary
               not included in the Borrowing Base but having a fair market value in excess of
               $500,000; or </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;
               a Change of Control shall occur; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;then,
and in any such event, so long as the same may be continuing, the Administrative Agent
may, and upon the request of the Required Lenders shall, by notice in writing to the
Borrower declare all amounts owing with respect to this Credit Agreement, the Revolving
Credit Notes and the other Loan Documents and all Reimbursement Obligations and Swing Line
Loans to be, and they shall thereupon forthwith become, immediately due and payable
without presentment, demand, protest or other notice of any kind, all of which are hereby
expressly waived by the Borrower; <U>provided</U> that in the event of any Event of
Default specified in &sect;&sect;13.1(g), 13.1(h) or 13.1(j), all such amounts shall
become immediately due and payable automatically and without any requirement of notice
from the Administrative Agent or any Lender. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>13.2.&nbsp;&nbsp;<U>Termination
of Commitments</U>.</B>&nbsp;&nbsp;If any one or more of the Events of Default specified
in &sect;13.1(g), &sect;13.1(h) or &sect;13.1(j) shall occur, any unused portion of the
credit hereunder shall forthwith terminate and each of the Lenders shall be relieved of
all further obligations to make Revolving Credit Loans to the Borrower, the Swing Line
Lender shall be relieved of all further obligations to make Swing Line Loans to the
Borrower and the L/C Issuer shall be relieved of all further obligations to issue, extend
or renew Letters of Credit. If any other Event of Default shall have occurred and be
continuing, the Administrative Agent may and, upon the request of the Required Lenders,
shall, by notice to the Borrower, terminate the unused portion of the credit hereunder,
and upon such notice being given such unused portion of the credit hereunder shall
terminate immediately and each of the Lenders shall be relieved of all further obligations
to make Revolving Credit Loans, the Swing Line Lender shall be relieved of all further
obligations to make Swing Line Loans to the Borrower and the L/C Issuer shall be relieved
of all further obligations to issue, extend or renew Letters of Credit. No termination of
the credit hereunder shall relieve the Borrower or any of its Subsidiaries of any of the
Obligations. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>13.3.&nbsp;&nbsp;<U>Remedies</U>.</B>&nbsp;&nbsp;In
case any one or more of the Events of Default shall have occurred and be continuing, and
whether or not the Lenders shall have accelerated the maturity of the Revolving Credit
Loans pursuant to &sect;13.1, each Lender, if owed any amount with respect to the
Revolving Credit Loans, Swing Line Loans or the Reimbursement Obligations, may, with the
consent of the Required Lenders but not otherwise, proceed to protect and enforce its
rights by suit in equity, action at law or other appropriate proceeding, whether for the
specific performance of any covenant or agreement contained in this Credit Agreement and
the other Loan Documents or any instrument pursuant to which the Obligations to such
Lender are evidenced, including as permitted by applicable law the obtaining of the
<U>ex</U> <U>parte</U> appointment of a receiver, and, if such amount shall have become
due, by declaration or otherwise, proceed to enforce the payment thereof or any other
legal or equitable right of such Lender. No remedy herein conferred upon any Lender or the
Administrative Agent or the holder of any Note or purchaser of any Letter of Credit
Participation is intended to be exclusive of any other remedy and each and every remedy
shall be cumulative and shall be in addition to every other remedy given hereunder or now
or hereafter existing at law or in equity or by statute or any other provision of law. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>13.4.&nbsp;&nbsp;<U>Distribution
of Collateral Proceeds</U>.</B>&nbsp;&nbsp;In the event that, following the occurrence or
during the continuance of any Default or Event of Default, the Administrative Agent or any
Lender, as the case may be, receives any monies in connection with the enforcement of any
the Security Documents, or otherwise with respect to the realization upon any of the
Collateral, such monies shall be distributed for application as follows: </FONT></P>

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               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;
               <U>First</U>, to the payment of, or (as the case may be) the reimbursement of
               the Administrative Agent for or in respect of all reasonable costs, expenses,
               disbursements and losses which shall have been incurred or sustained by the
               Administrative Agent in connection with the collection of such monies by the
               Administrative Agent, for the exercise, protection or enforcement by the
               Administrative Agent of all or any of the rights, remedies, powers and
               privileges of the Administrative Agent under this Credit Agreement or any of the
               other Loan Documents or in respect of the Collateral or in support of any
               provision of adequate indemnity to the Administrative Agent against any taxes or
               liens which by law shall have, or may have, priority over the rights of the
               Administrative Agent to such monies; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;
               <U>Second</U>, to all other Obligations (other than obligations of the Borrower
               and its Subsidiaries to any of the Lenders or the Administrative Agent with
               respect to any Interest Rate Protection Agreements or Swap Contracts) in such
               order or preference as the Required Lenders may determine; <U>provided</U>,
               <U>however</U>, that (i) distributions shall be made (A) <U>pari</U>
               <U>passu</U> among Obligations with respect to the fees owing to the
               Administrative Agent and all other Obligations and (B) with respect to each type
               of Obligation owing to the Lenders, such as interest, principal, fees and
               expenses, among the Lenders <U>pro</U> <U>rata</U>, and (ii) the Administrative
               Agent may in its discretion make proper allowance to take into account any
               Obligations not then due and payable; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;
               <U>Third</U>, to obligations of the Borrower and its Subsidiaries to any of the
               Lenders and/or the Administrative Agent with respect to any Interest Rate
               Protection Agreements and any Swap Contracts entered into with any Lender or the
               Administrative Agent; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;
               <U>Fourth</U>, upon payment and satisfaction in full or other provisions for
               payment in full satisfactory to the Lenders and the Administrative Agent of all
               of the Obligations, to the payment of any obligations required to be paid
               pursuant to &sect;9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code
               of the State of New York; and </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;
               <U>Fifth</U>, the excess, if any, shall be returned to the Borrower or to such
               other Persons as are entitled thereto. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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<P ALIGN=CENTER><FONT SIZE=3><B>14.&nbsp;&nbsp;<U>THE ADMINISTRATIVE AGENT</U>.</B></FONT></P>

<P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>14.1.&nbsp;&nbsp;<U>Authorization</U>.</B></FONT></P>

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               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;
               Each of the Lenders hereby irrevocably appoints Bank of America to act on its
               behalf as Administrative Agent hereunder and under the other Loan Documents. The
               Administrative Agent is authorized to take such action on behalf of each of the
               Lenders and to exercise all such powers as are hereunder and under any of the
               other Loan Documents and any related documents delegated to the Administrative
               Agent, together with such powers as are reasonably incident thereto, including
               the authority, without the necessity of any notice to or further consent of the
               Lenders, from time to time to take any action with respect to any Collateral or
               the Security Documents which may be necessary to perfect, maintain perfected or
               insure the priority of the security interest in and liens upon the Collateral
               granted pursuant to the Security Documents, <U>provided</U> that no duties or
               responsibilities not expressly assumed herein or therein shall be implied to
               have been assumed by the Administrative Agent. The provisions of this &sect;14
               are solely for the benefit of the Administrative Agent, the Lenders, the Swing
               Line Lender and the L/C Issuer, and neither the Borrower nor any of its
               Subsidiaries shall have rights as a third party beneficiary of any of such
               provisions. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;
               The relationship between the Administrative Agent and each of the Lenders is
               that of an independent contractor. The use of the term &#147;<U>Administrative
               Agent</U>&#148; is for convenience only and is used to describe, as a form of
               convention, the independent contractual relationship between the Administrative
               Agent and each of the Lenders. Nothing contained in this Credit Agreement nor
               the other Loan Documents shall be construed to create an agency, trust or other
               fiduciary relationship between the Administrative Agent and any of the
               Lenders<I>.</I> </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;
               As an independent contractor empowered by the Lenders to exercise certain rights
               and perform certain duties and responsibilities hereunder and under the other
               Loan Documents, the Administrative Agent is nevertheless a
               &#147;<U>representative</U>&#148; of the Lenders, as that term is defined in
               Article 1 of the Uniform Commercial Code, for purposes of actions for the
               benefit of the Lenders and the Administrative Agent with respect to all
               collateral security and guaranties contemplated by the Loan Documents. Such
               actions include the designation of the Administrative Agent as
               &#147;<U>secured</U> <U>party</U>&#148;, &#147;<U>mortgagee</U>&#148; or the
               like on all financing statements and other documents and instruments, whether
               recorded or otherwise, relating to the attachment, perfection, priority or
               enforcement of any security interests, mortgages or deeds of trust in collateral
               security intended to secure the payment or performance of any of the
               Obligations, all for the benefit of the Lenders and the Administrative Agent. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;
               The L/C Issuer shall act on behalf of the Lenders with respect to any Letters of
               Credit issued by it and the documents associated therewith, and the L/C Issuer
               shall have all of the benefits and immunities (i)&nbsp;provided to the
               Administrative Agent in this &sect;14 with respect to any acts taken or
               omissions suffered by the L/C Issuer in connection with Letters of Credit issued
               by it or proposed to be issued by it and the applications and agreements for
               letters of credit pertaining to the L/C Issuer as fully as if the term
               &#147;Administrative Agent&#148; as used in this &sect;14 included the L/C
               Issuer with respect to such acts or omissions (and including any affiliates of
               the L/C Issuer and the officers, directors, employees, agents and
               attorneys-in-fact of the L/C Issuer and any affiliates), and (ii)&nbsp;as
               additionally provided herein with respect to the L/C Issuer. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>14.2.&nbsp;&nbsp;<U>Employees
and Administrative Agents</U>.</B>&nbsp;&nbsp;The Administrative Agent may exercise its
powers and execute its duties by or through employees or sub-agents and shall be entitled
to take, and to rely on, advice of counsel concerning all matters pertaining to its rights
and duties under this Credit Agreement and the other Loan Documents. The Administrative
Agent and any such sub-agent may perform any and all of its duties and exercise its rights
and powers by or through their respective Related Parties. The Administrative Agent may
utilize the services of such Persons as the Administrative Agent in its sole discretion
may reasonably determine, and all reasonable fees and expenses of any such Persons shall
be paid by the Borrower. The exculpatory provisions of this &sect;14 shall apply to any
such sub-agent and to the Related Parties of the Administrative Agent and any such
sub-agent, and shall apply to their respective activities in connection with the
syndication of the credit facilities provided for herein as well as activities as
Administrative Agent. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>14.3.&nbsp;&nbsp;<U>No
Liability</U>.</B>&nbsp;&nbsp;The Administrative Agent shall not have any duties or
obligations except those expressly set forth herein and in the other Loan Documents.
Neither the Administrative Agent nor any of its shareholders, directors, officers or
employees nor any other Person assisting them in their duties nor any agent or employee
thereof, shall be liable for any waiver, consent or approval given or any action taken, or
omitted to be taken, in good faith by it or them hereunder or under any of the other Loan
Documents, or in connection herewith or therewith, or be responsible for the consequences
of any oversight or error of judgment whatsoever, except that the Administrative Agent or
such other Person, as the case may be, may be liable for losses due to its willful
misconduct or gross negligence. 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, affidavit, letter, telegram,
facsimile, telex, electronic mail 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 Borrower), 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 any Loan Document unless it shall first receive such
advice or concurrence of the Required Lenders as it deems appropriate and, if it so
requests, it shall first be indemnified to its satisfaction by the Lenders against any and
all liability and expense which may be incurred by it by reason of taking or continuing to
take any such action; <U>provided</U> that the Administrative Agent shall not be required
to take any action that, in its opinion or the opinion of its counsel, may expose the
Administrative Agent to liability or that is contrary to any Loan Document or applicable
law. The Administrative Agent shall in all cases be fully protected in acting, or in
refraining from acting, under this Credit Agreement or any other Loan Document in
accordance with a request or consent of the Required Lenders (or such greater number of
Lenders as may be expressly required hereby in any instance) and such request and any
action taken or failure to act pursuant thereto shall be binding upon all the Lenders.
Except as expressly set forth herein and in the other Loan Documents, the Administrative
Agent shall have no duty to disclose, and shall not be liable for the failure to disclose,
any information relating to any of the Borrowers or any of their respective Affiliates
that is communicated to or obtained by the Person serving as the Administrative Agent or
any of its Affiliates in any capacity. The Administrative Agent shall be deemed not to
have knowledge of any Default or Event of Default unless and until notice describing such
Default or Event of Default is given to the Administrative Agent by the Borrower, a
Lender, the Swing Line Lender or the L/C Issuer. The Administrative Agent also may rely
upon any statement made to it orally or by telephone and believed by it to have been made
by the proper Person, and shall not incur any liability for relying thereon. In
determining compliance with any condition hereunder to the making of a Revolving Credit
Loan, Swing Line Loan or the issuance of a Letter of Credit, that by its terms must be
fulfilled to the satisfaction of a Lender, the Swing Line Lender or the L/C Issuer, the
Administrative Agent may presume that such condition is satisfactory to such Lender, the
Swing Line Lender or the L/C Issuer unless the Administrative Agent shall have received
notice to the contrary from such Lender, the Swing Line Lender or the L/C Issuer prior to
the making of such Revolving Credit Loan, Swing Line Loan or the issuance of such Letter
of Credit. The Administrative Agent may consult with legal counsel (who may be counsel for
the Borrower), independent accountants and other experts selected by it, and shall not be
liable for any action taken or not taken by it in accordance with the advice of any such
counsel, accountants or experts. </FONT></P>

<P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>14.4.&nbsp;&nbsp;<U>No Representations</U>.</B></FONT></P>

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<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>14.4.1.&nbsp;&nbsp;<U>General</U>.&nbsp;&nbsp;</B>The
Administrative Agent shall not be responsible for the execution or validity or
enforceability of this Credit Agreement, the Revolving Credit Notes, the Letters of
Credit, any of the other Loan Documents or any instrument at any time constituting, or
intended to constitute, collateral security for the Revolving Credit Notes, or for the
value of any such collateral security or for the validity, enforceability or
collectability of any such amounts owing with respect to the Revolving Credit Notes, or
for any recitals or statements, warranties or representations made herein or in any of the
other Loan Documents or in any certificate or instrument hereafter furnished to it by or
on behalf of the Borrower or any of its Subsidiaries, or be bound to ascertain or inquire
as to the performance or observance of any of the terms, conditions, covenants or
agreements herein or in any instrument at any time constituting, or intended to
constitute, collateral security for the Revolving Credit Notes or to inspect any of the
properties, books or records of the Borrower or any of its Subsidiaries. The
Administrative Agent shall not be bound to ascertain whether any notice, consent, waiver
or request delivered to it by the Borrower or any holder of any of the Revolving Credit
Notes shall have been duly authorized or is true, accurate and complete. The
Administrative Agent shall not be responsible for or have any duty to ascertain or inquire
into the performance or observance of any of the covenants, agreements or other terms or
conditions set forth herein or in any other Loan Document or the occurrence of any Default
or Event of Default. The Administrative Agent has not made nor does it now make any
representations or warranties, express or implied, nor does it assume any liability to the
Lenders, with respect to the credit worthiness or financial conditions of the Borrower or
any of its Subsidiaries. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>14.4.2.&nbsp;&nbsp;<U>Non-Reliance
on Administrative Agent and Other Lenders</U>.&nbsp;&nbsp;</B>Each Lender acknowledges
that it has, independently and without reliance upon the Administrative Agent or any other
Lender, and based upon such information and documents as it has deemed appropriate, made
its own credit analysis and decision to enter into this Credit Agreement. Each Lender, the
Swing Line Lender and the L/C Issuer also acknowledges that it will, independently and
without reliance upon the Administrative Agent or any other Lender or any of their Related
Parties and based on such documents and information as it shall from time to time deem
appropriate, continue to make its own decisions in taking or not taking action under or
based upon this Agreement, any other Loan Document or any related agreement or any
document furnished hereunder or thereunder. The Administrative Agent shall not be
responsible for or have any duty to ascertain or inquire into the satisfaction of any
condition set forth in &sect;&sect;11 and 12 or elsewhere herein, other than to confirm
receipt of items expressly required to be delivered to the Administrative Agent. </FONT>
</TD>
</TR>
</TABLE>
<BR>

<P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>14.5.&nbsp;&nbsp;<U>Payments</U>.</B></FONT></P>

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<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>14.5.1.&nbsp;&nbsp;<U>Payments
to Administrative Agent</U>.</B>&nbsp;&nbsp;A payment by the Borrower to the
Administrative Agent hereunder or any of the other Loan Documents for the account of any
Lender shall constitute a payment to such Lender. The Administrative Agent agrees promptly
to distribute to each Lender such Lender&#146;s <U>pro</U> <U>rata</U> share of payments
received by the Administrative Agent for the account of the Lenders except as otherwise
expressly provided herein or in any of the other Loan Documents. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>14.5.2.&nbsp;&nbsp;<U>Distribution
by Administrative Agent</U>.</B>&nbsp;&nbsp;If in the opinion of the Administrative Agent
the distribution of any amount received by it in such capacity hereunder, under the
Revolving Credit Notes or under any of the other Loan Documents might involve it in
liability, it may refrain from making distribution until its right to make distribution
shall have been adjudicated by a court of competent jurisdiction. If a court of competent
jurisdiction shall adjudge that any amount received and distributed by the Administrative
Agent is to be repaid, each Person to whom any such distribution shall have been made
shall either repay to the Administrative Agent its proportionate share of the amount so
adjudged to be repaid or shall pay over the same in such manner and to such Persons as
shall be determined by such court. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>14.5.3.&nbsp;&nbsp;<U>Delinquent
Lenders</U>.</B>&nbsp;&nbsp;Notwithstanding anything to the contrary contained in this
Credit Agreement or any of the other Loan Documents, any Lender that fails (a) to make
available to the Administrative Agent its <U>pro</U> <U>rata</U> share of any Revolving
Credit Loan or to purchase any Letter of Credit Participation or to purchase
participations in Swing Line Loans required to be funded by it hereunder or (b) to comply
with the provisions of &sect;16.1 with respect to making dispositions and arrangements
with the other Lenders, where such Lender&#146;s share of any payment received, whether by
setoff or otherwise, is in excess of its <U>pro</U> <U>rata</U> share of such payments due
and payable to all of the Lenders, in each case as, when and to the full extent required
by the provisions of this Credit Agreement shall be deemed delinquent (a
&#147;<U>Delinquent</U> <U>Lender</U>&#148;) and shall be deemed a Delinquent Lender until
such time as such delinquency is satisfied. A Delinquent Lender shall be deemed to have
assigned any and all payments due to it from the Borrower, whether on account of
outstanding Revolving Credit Loans, participations in Swing Line Loans, Unpaid
Reimbursement Obligations, interest, fees or otherwise, to the remaining nondelinquent
Lenders for application to, and reduction of, their respective <U>pro</U> <U>rata</U>
shares of all outstanding Revolving Credit Loans and Unpaid Reimbursement Obligations. The
Delinquent Lender hereby authorizes the Administrative Agent to distribute such payments
to the nondelinquent Lenders in proportion to their respective <U>pro</U> <U>rata</U>
shares of all outstanding Revolving Credit Loans, Unpaid Reimbursement Obligations and
participations in Swing Line Loans. A Delinquent Lender shall be deemed to have satisfied
in full a delinquency when and if, as a result of application of the assigned payments to
all outstanding Revolving Credit Loans, Unpaid Reimbursement Obligations and
participations in Swing Line Loans of the nondelinquent Lenders, the Lenders&#146;
respective <U>pro</U> <U>rata</U> shares of all outstanding Revolving Credit Loans, Unpaid
Reimbursement Obligations and participations in Swing Line Loans have returned to those in
effect immediately prior to such delinquency and without giving effect to the nonpayment
causing such delinquency. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>14.5.4.&nbsp;&nbsp;<U>Replacement
of Lender</U>.</B>&nbsp;&nbsp;If any Lender (a) requests compensation under
&sect;&sect;5.6 or 5.7, or if the Borrower is required to pay any additional amount to any
Lender or any Governmental Authority for the account of any Lender pursuant to &sect;5.6,
or (b) is a Delinquent Lender, then the Borrower may, at its sole expense and effort, upon
notice to such Lender and the Administrative Agent, require such Lender to assign and
delegate, without recourse (in accordance with and subject to the restrictions contained
in, and consents required by, &sect;15), all of its interests, rights and obligations
under this Agreement and the related Loan Documents to an assignee that shall assume such
obligations (which assignee may be another Lender, if a Lender accepts such assignment),
<U>provided</U> that: </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;
               the Borrower shall have paid to the Administrative Agent the assignment fee
               specified in &sect;15.1.2; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;
               such Lender shall have received payment of an amount equal to the outstanding
               principal of its Revolving Credit Loans and L/C Advances, accrued interest
               thereon, accrued fees and all other amounts payable to it hereunder and under
               the other Loan Documents (including any amounts under &sect;5.9) from the
               assignee (to the extent of such outstanding principal and accrued interest and
               fees) or the Borrower (in the case of all other amounts); </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;
               in the case of any such assignment resulting from a claim for compensation under
               &sect;&sect;5.6 or 5.7 or payments required to be made pursuant to &sect;5.6,
               such assignment will result in a reduction in such compensation or payments
               thereafter; and </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;
               such assignment does not conflict with applicable laws. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
Lender shall not be required to make any such assignment or delegation if, prior thereto,
as a result of a waiver by such Lender or otherwise, the circumstances entitling the
Borrower to require such assignment and delegation cease to apply. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>14.6.&nbsp;&nbsp;<U>Holders
of Revolving Credit Notes</U>.</B>&nbsp;&nbsp;The Administrative Agent may deem and treat
the payee of any Revolving Credit Notes, any particpant in a Swing Line Loan or the
purchaser of any Letter of Credit Participation as the absolute owner or purchaser thereof
for all purposes hereof until it shall have been furnished in writing with a different
name by such payee or by a subsequent holder, assignee or transferee. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>14.7.&nbsp;&nbsp;<U>Indemnity</U>.</B>&nbsp;&nbsp;To
the extent that the Borrower for any reason fails to indefeasibly pay any amount required
hereunder (including under &sect;&sect;16.2 and 16.3 hereof) to be paid by it to the
Administrative Agent (or any sub-agent thereof), the L/C Issuer, the Swing Line Lender or
any Related Party of any of the foregoing, each Lender severally agrees to pay to the
Administrative Agent (or any such sub-agent), the L/C Issuer, the Swing Line Lender or
such Related Party, as the case may be, such Lender&#146;s Commitment Percentage
(determined as of the time that the applicable unreimbursed expense or indemnity payment
is sought) of such unpaid amount, <U>provided</U> that the unreimbursed expense or
indemnified loss, claim, damage, liability or related expense, as the case may be, was
incurred by or asserted against the Administrative Agent (or any such sub-agent), or the
Swing Line Lender in its capacity as such, or the L/C Issuer in its capacity as such, or
against any Related Party of any of the foregoing acting for the Administrative Agent (or
any such sub-agent) or the Swing Line Lender or L/C Issuer in connection with such
capacity. The obligations of the Lenders under this &sect;14.7 are subject to the
provisions of &sect;2.8.3. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>14.8.&nbsp;&nbsp;<U>Administrative
Agent as Lender, etc</U>.</B>&nbsp;&nbsp;In its individual capacity, Bank of America shall
have the same obligations and the same rights, powers and privileges in respect to its
Commitment and the Revolving Credit Loans made by it, and as the holder of any of the
Revolving Credit Notes, as the purchaser of participations in Swing Line Loans and as the
purchaser of any Letter of Credit Participations, as it would have were it not also the
Administrative Agent. Such Person and its Affiliates may accept deposits from, lend money
to, act as the financial advisor or in any other advisory capacity for and generally
engage in any kind of business with the Borrower or any Subsidiary or other Affiliate
thereof as if such Person were not the Administrative Agent hereunder and without any duty
to account therefor to the Lenders. Neither the Syndication Agent nor the Co-Agent shall
have any right, power, obligation, liability, responsibility or duty under the Credit
Agreement in such capacity, other than those applicable to all Lenders as Lenders. The
Arranger shall not have any right, power, obligation, liability, responsibility or duty
under the Credit Agreement in such capacity. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>14.9.&nbsp;&nbsp;<U>Resignation</U>.</B>&nbsp;&nbsp;The
Administrative Agent may at any time give notice of its resignation to the Lenders, the
Swing Line Lender, the L/C Issuer and the Borrower. Upon receipt of any such notice of
resignation, the Required Lenders shall have the right, in consultation with the Borrower
and, so long as no Default or Event of Default has occurred and is continuing, subject to
the reasonable acceptance of the Borrower, to appoint a successor, which shall be a bank
with an office in the United States, or an Affiliate of any such bank with an office in
the United States. If no such successor shall have been so appointed by the Required
Lenders and shall have accepted such appointment within 30&nbsp;days after the retiring
Administrative Agent gives notice of its resignation, then the retiring Administrative
Agent may on behalf of the Lenders, the Swing Line Lender and the L/C Issuer, appoint a
successor Administrative Agent meeting the qualifications set forth above (including the
reasonable acceptance of the Borrower); <U>provided</U> that if the Administrative Agent
shall notify the Borrower and the Lenders that no qualifying Person has accepted such
appointment, then such resignation shall nonetheless become effective in accordance with
such notice and (1)&nbsp;the retiring Administrative Agent shall be discharged from its
duties and obligations hereunder and under the other Loan Documents (except that in the
case of any collateral security held by the Administrative Agent on behalf of the Lenders,
the Swing Line Lender or the L/C Issuer under any of the Loan Documents, the retiring
Administrative Agent shall continue to hold such collateral security until such time as a
successor Administrative Agent is appointed) and (2)&nbsp;all payments, communications and
determinations provided to be made by, to or through the Administrative Agent shall
instead be made by or to each Lender, the Swing Line Lender and the L/C Issuer directly,
until such time as the Required Lenders appoint a successor Administrative Agent as
provided for above in this Section. Upon the acceptance of a successor&#146;s appointment
as Administrative Agent hereunder, such successor shall succeed to and become vested with
all of the rights, powers, privileges and duties of the retiring (or retired)
Administrative Agent, and the retiring Administrative Agent shall be discharged from all
of its duties and obligations hereunder or under the other Loan Documents (if not already
discharged therefrom as provided above in this Section). The fees payable by the Borrower
to a successor Administrative Agent shall be the same as those payable to its predecessor
unless otherwise agreed between the Borrower and such successor. After the retiring
Administrative Agent&#146;s resignation hereunder and under the other Loan Documents, the
provisions of this &sect;14 and &sect;&sect;16.2 and 16.3 shall continue in effect for the
benefit of such retiring Administrative Agent, its sub-agents and their respective Related
Parties in respect of any actions taken or omitted to be taken by any of them while the
retiring Administrative Agent was acting as Administrative Agent. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
resignation by Bank of America as Administrative Agent pursuant to this Section shall also
constitute its resignation as L/C Issuer and Swing Line Lender. Upon the acceptance of a
successor&#146;s appointment as Administrative Agent hereunder, (a) such successor shall
succeed to and become vested with all of the rights, powers, privileges and duties of the
retiring L/C Issuer and Swing Line Lender, (b) the retiring L/C Issuer and Swing Line
Lender shall be discharged from all of their respective duties and obligations hereunder
or under the other Loan Documents, and (c) the successor L/C Issuer shall issue letters of
credit in substitution for the Letters of Credit, if any, outstanding at the time of such
succession or make other arrangements satisfactory to the retiring L/C Issuer to
effectively assume the obligations of the retiring L/C Issuer with respect to such Letters
of Credit. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>14.10.&nbsp;&nbsp;<U>Notification
of Defaults and Events of Default</U>.</B>&nbsp;&nbsp;Each Lender hereby agrees that, upon
learning of the existence of a Default or an Event of Default, it shall promptly notify
the Administrative Agent thereof. The Administrative Agent hereby agrees that upon receipt
of any notice under this &sect;14.10 it shall promptly notify the other Lenders of the
existence of such Default or Event of Default. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>14.11.&nbsp;&nbsp;<U>Duties
in the Case of Enforcement</U>.</B>&nbsp;&nbsp;In case one of more Events of Default have
occurred and shall be continuing, and whether or not acceleration of the Obligations shall
have occurred, the Administrative Agent shall, if (a) so requested by the Required Lenders
and (b) the Lenders have provided to the Administrative Agent such additional indemnities
and assurances against expenses and liabilities as the Administrative Agent may reasonably
request, proceed to enforce the provisions of the Security Documents authorizing the sale
or other disposition of all or any part of the Collateral and exercise all or any such
other legal and equitable and other rights or remedies as it may have in respect of such
Collateral. The Required Lenders may direct the Administrative Agent in writing as to the
method and the extent of any such sale or other disposition, the Lenders hereby agreeing
to indemnify and hold the Administrative Agent harmless from all liabilities incurred in
respect of all actions taken or omitted in accordance with such directions,
<U>provided</U> that the Administrative Agent need not comply with any such direction to
the extent that the Administrative Agent reasonably believes the Administrative
Agent&#146;s compliance with such direction to be unlawful or commercially unreasonable in
any applicable jurisdiction. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>14.12.&nbsp;&nbsp;<U>Administrative
Agent May File Proofs of Claim</U>.</B>&nbsp;&nbsp;In case of the pendency of any
receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement,
adjustment, composition or other judicial proceeding relative to any the Borrower or any
Guarantor, the Administrative Agent (irrespective of whether the principal of any
Revolving Credit Loan, Swing Line Loan or Reimbursement Obligation 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 Borrower) shall be entitled and
empowered, by intervention in such proceeding or otherwise: </FONT></P>

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               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;
               to file and prove a claim for the whole amount of the principal and interest
               owing and unpaid in respect of the Revolving Credit Loans, Swing Line Loans or
               Reimbursement Obligations 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, the Swing Line Lender, the L/C Issuer and the
               Administrative Agent (including any claim for the reasonable compensation,
               expenses, disbursements and advances of the Lenders, the Swing Line Lender, the
               L/C Issuer and the Administrative Agent and their respective agents and counsel
               and all other amounts due the Lenders, the L/C Issuer and the Administrative
               Agent hereunder) allowed in such judicial proceeding; and </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;
               to collect and receive any monies or other property payable or deliverable on
               any such claims and to distribute the same; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and
any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar
official in any such judicial proceeding is hereby authorized by each Lender and the L/C
Issuer 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
and the L/C Issuer, 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 hereunder
(including under &sect;&sect;5.1, 16.2 and 16.3). </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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, the Swing Line Lender or the L/C
Issuer 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. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>14.13.&nbsp;&nbsp;<U>Collateral
and Guaranty Matters</U>.</B>&nbsp;&nbsp;The Lenders, the Swing Line Lender and the L/C
Issuer irrevocably authorize the Administrative Agent, at its option and in its
discretion, </FONT></P>

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               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;
               to release any Lien on any property granted to or held by the Administrative
               Agent under any Loan Document (i) upon termination of the Total Commitments and
               payment in full of all Obligations (other than contingent indemnification
               obligations) and the expiration or termination of all Letters of Credit, (ii)
               that is sold or to be sold as part of or in connection with any sale permitted
               hereunder or under any other Loan Document, or (iii) subject to &sect;16.12, if
               approved, authorized or ratified in writing by the Required Lenders; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;
               to subordinate any Lien on any property granted to or held by the Administrative
               Agent under any Loan Document to the holder of any Lien on such property that is
               permitted by &sect;9.2.1; and </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;
               to release any Guarantor from its obligations under the Guaranty if such Person
               ceases to be a Subsidiary as a result of a transaction permitted hereunder. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
request by the Administrative Agent at any time, the Required Lenders will confirm in
writing the Administrative Agent&#146;s authority to release or subordinate its interest
in particular types or items of property, or to release any Guarantor from its obligations
under the Guaranty pursuant to this &sect;14.13. </FONT></P>

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<P ALIGN=CENTER><FONT SIZE=3><B>15.&nbsp;&nbsp;<U>ASSIGNMENT AND PARTICIPATION</U>.</B></FONT></P>

<P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>15.1.&nbsp;&nbsp;<U>Conditions to Assignment</U>.</B></FONT></P>

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<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>15.1.1.&nbsp;&nbsp;<U>Successors
and Assignment Generally.</U>&nbsp;&nbsp;</B>The provisions of this Credit Agreement shall
be binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns permitted hereby, except that neither the Borrower nor any
Guarantor may assign or otherwise transfer any of its rights or obligations hereunder
without the prior written consent of the Administrative Agent and each Lender and no
Lender may assign or otherwise transfer any of its rights or obligations hereunder except
(i) to an Eligible Assignee in accordance with the provisions of &sect;15.1.2, (ii) by way
of participation in accordance with the provisions of &sect;15.1.4, or (iii) by way of
pledge or assignment of a security interest subject to the restrictions of &sect;15.1.5
(and any other attempted assignment or transfer by any party hereto shall be null and
void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon
any Person (other than the parties hereto, their respective successors and assigns
permitted hereby, Participants to the extent provided in &sect;15.1.4 and, to the extent
expressly contemplated hereby, the Related Parties of each of the Administrative Agent,
the Swing Line Lender, the L/C Issuer and the Lenders) any legal or equitable right,
remedy or claim under or by reason of this Agreement. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>15.1.2.&nbsp;&nbsp;<U>Assignments
by Lenders.</U>&nbsp;&nbsp;</B>Any Lender may at any time assign to one or more Eligible
Assignees all or a portion of its rights and obligations under this Agreement (including
all or a portion of its Commitment and the Revolving Credit Loans (including for purposes
of this &sect;15.1.2, participations in Letters of Credit and in Swing Line Loans) at the
time owing to it); <U>provided</U> that </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;
               except in the case of an assignment of the entire remaining amount of the
               assigning Lender&#146;s Commitment and the Revolving Credit Loans at the time
               owing to it or in the case of an assignment to a Lender or an Affiliate of a
               Lender or an Approved Fund with respect to a Lender, the aggregate amount of the
               Commitment (which for this purpose includes Revolving Credit Loans outstanding
               thereunder) or, if the Commitment is not then in effect, the principal
               outstanding balance of the Revolving Credit Loans of the assigning Lender
               subject to each such assignment, determined as of the date the Assignment and
               Assumption with respect to such assignment is delivered to the Administrative
               Agent or, if &#147;Trade Date&#148; is specified in the Assignment and
               Assumption, as of the Trade Date, shall not be less than $5,000,000<B>
               </B>unless each of the Administrative Agent and, so long as no Event of Default
               has occurred and is continuing, the Borrower otherwise consents (each such
               consent not to be unreasonably withheld or delayed); <U>provided</U>,
               <U>however</U>, that concurrent assignments to members of an Assignee Group and
               concurrent assignments from members of an Assignee Group to a single Eligible
               Assignee (or to an Eligible Assignee and members of its Assignee Group) will be
               treated as a single assignment for purposes of determining whether such minimum
               amount has been met; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;
               each partial assignment shall be made as an assignment of a proportionate part
               of all the assigning Lender&#146;s rights and obligations under this Credit
               Agreement with respect to the Revolving Credit Loans, participations in Swing
               Line Loans and Letters of Credit or the Commitment assigned, except that this
               clause (b) shall not apply to rights in respect of Swing Line Loans of the Swing
               Line Lender; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;
               any assignment of a Commitment must be approved by the Administrative Agent, the
               L/C Issuer and the Swing Line Lender unless the Person that is the proposed
               assignee is itself a Lender (whether or not the proposed assignee would
               otherwise qualify as an Eligible Assignee); and </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;
               the parties to each assignment shall execute and deliver to the Administrative
               Agent an Assignment and Assumption, together with a processing and recordation
               fee in the amount, if any, required as set forth in <U>Schedule 15.1.2</U>, and
               the Eligible Assignee, if it shall not be a Lender, shall deliver to the
               Administrative Agent an Administrative Questionnaire. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to acceptance and recording thereof by the Administrative Agent pursuant to &sect;15.1.3,
from and after the effective date specified in each Assignment and Assumption, the
Eligible Assignee thereunder shall be a party to this Credit Agreement and, to the extent
of the interest assigned by such Assignment and Assumption, have the rights and
obligations of a Lender under this Credit Agreement, and the assigning Lender thereunder
shall, to the extent of the interest assigned by such Assignment and Assumption, be
released from its obligations under this Agreement (and, in the case of an Assignment and
Assumption covering all of the assigning Lender&#146;s rights and obligations under this
Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled
to the benefits of &sect;&sect;5.6, 5.7, 5.9, 16.2 and 16.3 with respect to facts and
circumstances occurring prior to the effective date of such assignment. Upon request, the
Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any
assignment or transfer by a Lender of rights or obligations under this Agreement that does
not comply with this subsection shall be treated for purposes of this Agreement as a sale
by such Lender of a participation in such rights and obligations in accordance with
&sect;15.1.4. The Administrative Agent shall use commercially reasonable efforts to
provide the Borrower with prompt notice of any assignment hereunder. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>15.1.3.&nbsp;&nbsp;<U>Register.</U>&nbsp;&nbsp;</B>The
Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall
maintain at the Administrative Agent&#146;s Office a copy of each Assignment and
Assumption delivered to it and a register for the recordation of the names and addresses
of the Lenders, and the Commitments of, and principal amounts of the Revolving Credit
Loans, the Swing Line Loan and participations in Letters of Credit owing to, each Lender
pursuant to the terms hereof from time to time (the &#147;<U>Register</U>&#148;). The
entries in the Register shall be conclusive, absent manifest error, and the Borrower, the
Administrative Agent and the Lenders may treat each Person whose name is recorded in the
Register pursuant to the terms hereof as a Lender hereunder for all purposes of this
Agreement, notwithstanding notice to the contrary. The Register shall be available for
inspection by each of the Borrower, the Swing Line Lender and the L/C Issuer at any
reasonable time and from time to time upon reasonable prior notice. In addition, at any
time that a request for a consent for a material or substantive change to the Loan
Documents is pending, any Lender may request and receive from the Administrative Agent a
copy of the Register. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>15.1.4.&nbsp;&nbsp;<U>Participations.</U>&nbsp;&nbsp;</B>Any
Lender may at any time, without the consent of, or notice to, the Borrower or the
Administrative Agent, sell participations to any Person (other than a natural person or
the Borrower or any of the Borrower&#146;s Affiliates or Subsidiaries or any competitor of
the Borrower (<U>provided</U>, <U>however</U>, that no financial institution or Approved
Fund shall be deemed to be a competitor of the Borrower)) (each, a
&#147;<U>Participant</U>&#148;) in all or a portion of such Lender&#146;s rights and/or
obligations under this Credit Agreement (including all or a portion of its Commitment
and/or the Revolving Loans (including such Lender&#146;s participations in Letters of
Credit and/or Swing Line Loans) owing to it); <U>provided</U> that (i)&nbsp;such
Lender&#146;s obligations under this Credit Agreement shall remain unchanged,
(ii)&nbsp;such Lender shall remain solely responsible to the other parties hereto for the
performance of such obligations and (iii)&nbsp;the Borrower, the Administrative Agent, the
Lenders, the Swing Line Lender and the L/C Issuer shall continue to deal solely and
directly with such Lender in connection with such Lender&#146;s rights and obligations
under this Agreement. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
agreement or instrument pursuant to which a Lender sells such a participation shall
provide that such Lender shall retain the sole right to enforce this Agreement and to
approve any amendment, modification or waiver of any provision of this Agreement;
<U>provided</U> that such agreement or instrument may provide that such Lender will not,
without the consent of the Participant, agree to any amendment, waiver or other
modification described in the first proviso to &sect;16.12(a) that affects such
Participant. Subject to &sect;15.1.5, the Borrower agrees that each Participant shall be
entitled to the benefits of &sect;&sect;5.6, 5.7 and 5.9,<I> </I>to the same extent as if
it were a Lender and had acquired its interest by assignment pursuant to &sect;15.1.2. To
the extent permitted by law, each Participant also shall be entitled to the benefits of
&sect;16.1<I> </I>as though it were a Lender, <U>provided</U> such Participant agrees to
be subject to &sect;16.1 as though it were a Lender. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>15.1.5.&nbsp;&nbsp;<U>Certain
Pledges.</U>&nbsp;&nbsp;</B>Any Lender may at any time pledge or assign a security
interest in all or any portion of its rights under this Credit Agreement (including under
its Note, if any) to secure obligations of such Lender, including any pledge or assignment
to secure obligations to a Federal Reserve Bank; <U>provided</U> that no such pledge or
assignment shall release such Lender from any of its obligations hereunder or substitute
any such pledgee or assignee for such Lender as a party hereto. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>15.1.6.&nbsp;&nbsp;<U>Electronic
Execution of Assignments.</U>&nbsp;&nbsp;</B>The words &#147;execution,&#148;
&#147;signed,&#148; &#147;signature,&#148; and words of like import in any Assignment and
Assumption shall be deemed to include electronic signatures or the keeping of records in
electronic form, each of which shall be of the same legal effect, validity or
enforceability as a manually executed signature or the use of a paper-based recordkeeping
system, as the case may be, to the extent and as provided for in any applicable law,
including the Federal Electronic Signatures in Global and National Commerce Act, the New
York State Electronic Signatures and Records Act, or any other similar state laws based on
the Uniform Electronic Transactions Act. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>15.1.7.&nbsp;&nbsp;<U>Resignation
as L/C Issuer and Swing Line Lender after Assignment.</U>&nbsp;&nbsp;</B>Notwithstanding
anything to the contrary contained herein, if at any time Bank of America assigns all of
its Commitment and Revolving Credit Loans pursuant to &sect;15.1.2 above, Bank of America
may, (i) upon 30 days&#146; notice to the Borrower and the Lenders, resign as L/C Issuer
and/or (ii) upon 30 days&#146; notice to the Borrower, resign as Swing Line Lender. In the
event of any such resignation as L/C Issuer or Swing Line Lender, the Borrower shall be
entitled to appoint from among the Lenders a successor L/C Issuer or Swing Line Lender
hereunder; <U>provided</U>, <U>however</U>, that no failure by the Borrower to appoint any
such successor shall affect the resignation of Bank of America as L/C Issuer or Swing Line
Lender, as the case may be. If Bank of America resigns as L/C Issuer, it shall retain all
the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all
Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer
and all Letters of Credit and Reimbursement Obligations with respect thereto (including
the right to require the Lenders to make Base Rate Loans or fund risk participations in
Unpaid Reimbursement Obligations pursuant to &sect;4). If Bank of America resigns as Swing
Line Lender, it shall retain all the rights of the Swing Line Lender provided for
hereunder with respect to Swing Line Loans made by it and outstanding as of the effective
date of such resignation, including the right to require the Lenders to make Base Rate
Loans or fund risk participations in outstanding Swing Line Loans pursuant to &sect;2.10.
Upon the appointment of a successor L/C Issuer and/or Swing Line Lender, (a) such
successor shall succeed to and become vested with all of the rights, powers, privileges
and duties of the retiring L/C Issuer or Swing Line Lender, as the case may be, and (b)
the successor L/C Issuer shall issue letters of credit in substitution for the Letters of
Credit, if any, outstanding at the time of such succession or make other arrangements
satisfactory to Bank of America to effectively assume the obligations of Bank of America
with respect to such Letters of Credit. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<P ALIGN=CENTER><FONT SIZE=3><B>16.&nbsp;&nbsp;<U>PROVISIONS OF GENERAL APPLICATIONS</U>.</B></FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>16.1.&nbsp;&nbsp;<U>Setoff</U>.</B>&nbsp;&nbsp;The
Borrower hereby grants to the Administrative Agent and each of the Lenders a continuing
lien, security interest and right of setoff as security for all liabilities and
obligations to the Administrative Agent and each Lender, whether now existing or hereafter
arising, upon and against all deposits, credits, collateral and property, now or hereafter
in the possession, custody, safekeeping or control of the Administrative Agent or such
Lender or any Lender Affiliate and their successors and assigns or in transit to any of
them. Regardless of the adequacy of any collateral, if any Event of Default shall have
occurred, any deposits or other sums credited by or due from any of the Lenders or Lender
Affiliates to the Borrower and any securities or other property of the Borrower in the
possession of such Lender may be applied to or set off by such Lender against the payment
of Obligations and any and all other liabilities, direct, or indirect, absolute or
contingent, due or to become due, now existing or hereafter arising, of the Borrower to
such Lender. ANY AND ALL RIGHTS TO REQUIRE ANY LENDER TO EXERCISE ITS RIGHTS OR REMEDIES
WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING
ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE
BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. Each of the Lenders
agree with each other Lender that (a) if an amount to be set off is to be applied to
Indebtedness of the Borrower to such Lender, other than Indebtedness evidenced by the
Revolving Credit Notes held by such Lender or constituting Reimbursement Obligations owed
to such Lender or participations in Swing Line Loans held by such Lender, such amount
shall be applied ratably to such other Indebtedness and to the Indebtedness evidenced by
all such Revolving Credit Notes held by such Lender or constituting Reimbursement
Obligations owed to such Lender or participations in Swing Line Loans held by such Lender,
and (b) if such Lender shall receive from the Borrower, whether by voluntary payment,
exercise of the right of setoff, counterclaim, cross action, enforcement of the claim
evidenced by the Revolving Credit Notes held by, or constituting Reimbursement Obligations
owed to or participations in Swing Line Loans held by, such Lender by proceedings against
the Borrower at law or in equity or by proof thereof in bankruptcy, reorganization,
liquidation, receivership or similar proceedings, or otherwise, and shall retain and apply
to the payment of the Revolving Credit Note or Revolving Credit Notes held by, or
Reimbursement Obligations owed to, or participations in Swing Line Loans held by, such
Lender any amount in excess of its ratable portion of the payments received by all of the
Lenders with respect to the Revolving Credit Notes held by, and Reimbursement Obligations
owed to, or participations in Swing Line Loans held by, all of the Lenders, such Lender
will make such disposition and arrangements with the other Lenders with respect to such
excess, either by way of distribution, <U>pro</U> <U>tanto</U> assignment of claims,
subrogation or otherwise as shall result in each Lender receiving in respect of the
Revolving Credit Notes held by it or Reimbursement Obligations owed it, or participations
in Swing Line Loans held by it, its proportionate payment as contemplated by this Credit
Agreement; <U>provided</U> that if all or any part of such excess payment is thereafter
recovered from such Lender, such disposition and arrangements shall be rescinded and the
amount restored to the extent of such recovery, but without interest. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>16.2.&nbsp;&nbsp;<U>Expenses</U></B><U></U>.&nbsp;&nbsp;The
Borrower shall pay (i)&nbsp;all reasonable out-of-pocket expenses incurred by the
Administrative Agent and its Affiliates (including the reasonable fees, charges and
disbursements of counsel for the Administrative Agent), in connection with the syndication
of the credit facilities provided for herein, the preparation, negotiation, execution,
delivery and administration of this Agreement and the other Loan Documents or any
amendments, modifications or waivers of the provisions hereof or thereof (whether or not
the transactions contemplated hereby or thereby shall be consummated), (ii)&nbsp;all
reasonable out-of-pocket expenses incurred by the L/C Issuer in connection with the
issuance, amendment, renewal or extension of any Letter of Credit or any demand for
payment thereunder and (iii)&nbsp;all reasonable out-of-pocket expenses incurred by the
Administrative Agent, any Lender, the Swing Line Lender or the L/C Issuer (including the
fees, charges and disbursements of any counsel for the Administrative Agent, any Lender,
the Swing Line Lender or the L/C Issuer), in connection with the enforcement or protection
of its rights (A)&nbsp;in connection with this Agreement and the other Loan Documents,
including its rights under this &sect;16.2, or (B)&nbsp;in connection with the Revolving
Credit Loans or Swing Line Loans made or Letters of Credit issued hereunder, including all
such reasonable out-of-pocket expenses incurred during any workout, restructuring or
negotiations in respect of such Revolving Credit Loans or Swing Line Loans or Letters of
Credit. All amounts due under this &sect;16.2 shall be payable not later than ten Business
Days after demand therefor. The agreements in this &sect;16.2 shall survive the
resignation of the Administrative Agent, the Swing Line Lender and the L/C Issuer, the
replacement of any Lender, the termination of the Total Commitment and the repayment,
satisfaction or discharge of all the other Obligations. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>16.3.&nbsp;&nbsp;<U>Indemnification</U></B><U></U>.&nbsp;&nbsp;The
Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), each
Lender, the Swing Line Lender and the L/C Issuer, and each Related Party of any of the
foregoing Persons (each such Person being called an &#147;<U>Indemnitee</U>&#148;)
against, and hold each Indemnitee harmless from, any and all losses, claims, damages,
liabilities and related expenses (including the fees, charges and disbursements of any
counsel for any Indemnitee), and shall indemnify and hold harmless each Indemnitee from
all fees and time charges and disbursements for attorneys who may be employees of any
Indemnitee, incurred by any Indemnitee or asserted against any Indemnitee by any third
party or by the Borrower or any of its Subsidiaries arising out of, in connection with, or
as a result of (i)&nbsp;the execution or delivery of this Credit Agreement, any other Loan
Document or any agreement or instrument contemplated hereby or thereby, the performance by
the parties hereto of their respective obligations hereunder or thereunder, the
consummation of the transactions contemplated hereby or thereby, or, in the case of the
Administrative Agent (and any sub-agent thereof) and its Related Parties only, the
administration of this Agreement and the other Loan Documents, (ii)&nbsp;any Revolving
Credit Loan, Swing Line Loan or Letter of Credit or the use or proposed use of the
proceeds therefrom (including any refusal by the L/C Issuer to honor a demand for payment
under a Letter of Credit if the documents presented in connection with such demand do not
strictly comply with the terms of such Letter of Credit), (iii)&nbsp;any actual or alleged
presence or release of Hazardous Substances on or from any property owned or operated by
the Borrower or any of its Subsidiaries, or any environmental liability related in any way
to the Borrower or any of its Subsidiaries, or (iv)&nbsp;any actual or prospective claim,
litigation, investigation or proceeding relating to any of the foregoing, whether based on
contract, tort or any other theory, whether brought by a third party or by the Borrower or
any of its Subsidiaries, and regardless of whether any Indemnitee is a party thereto;
<U>provided</U> that such indemnity shall not, as to any Indemnitee, be available to the
extent that such losses, claims, damages, liabilities or related expenses (x)&nbsp;are
determined by a court of competent jurisdiction by final and nonappealable judgment to
have resulted from the gross negligence or willful misconduct of such Indemnitee or
(y)&nbsp;result from a claim brought by the Borrower or any of its Subsidiaries against an
Indemnitee for breach in bad faith of such Indemnitee&#146;s obligations hereunder or
under any other Loan Document, if the Borrower or such Subsidiary has obtained a final and
nonappealable judgment in its favor on such claim as determined by a court of competent
jurisdiction. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby
waives, any claim against any Indemnitee, on any theory of liability, for special,
indirect, consequential or punitive damages (as opposed to direct or actual damages)
arising out of, in connection with, or as a result of, this Credit Agreement, any other
Loan Document or any agreement or instrument contemplated hereby, the transactions
contemplated hereby or thereby, any Revolving Credit Loan, Swing Line Loan or Letter of
Credit or the use of the proceeds thereof. No Indemnitee referred to in paragraph above
shall be liable for any damages arising from the use by unintended recipients of any
information or other materials distributed by it through telecommunications, electronic or
other information transmission systems in connection with this Credit Agreement or the
other Loan Documents or the transactions contemplated hereby or thereby. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
amounts due under this &sect;16.3 shall be payable not later than ten Business Days after
demand therefor. The agreements in this &sect;16.3 shall survive the resignation of the
Administrative Agent, the Swing Line Lender and the L/C Issuer, the replacement of any
Lender, the termination of the Total Commitment and the repayment, satisfaction or
discharge of all the other Obligations. </FONT></P>

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<P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>16.4.&nbsp;&nbsp;<U>Treatment of Certain Confidential Information</U>.</B></FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%></TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>16.4.1.&nbsp;&nbsp;<U>Confidentiality</U>.</B></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of the Administrative Agent, the Lenders, the Swing Line Lender and the L/C Issuer agrees
to maintain the confidentiality of the Information (as defined below), except that
Information may be disclosed (a) to its Affiliates and to its and its Affiliates&#146;
respective partners, directors, officers, employees, agents, advisors and representatives
(it being understood that the Persons to whom such disclosure is made will be informed of
the confidential nature of such Information and instructed to keep such Information
confidential in accordance with the terms hereof), (b) to the extent requested by any
regulatory authority purporting to have jurisdiction over it (including any
self-regulatory authority, such as the National Association of Insurance Commissioners);
<U>provided</U> that the Administrative Agent shall use commercially reasonable efforts to
provide notice to the Borrower of any such request, (c) to the extent required by
applicable laws or regulations or by any subpoena or similar legal process;
<U>provided</U> that the Administrative Agent shall use commercially reasonable efforts to
provide notice to the Borrower upon becoming aware of such requirement, (d) to any other
party hereto, (e) in connection with the exercise of any remedies hereunder or under any
other Loan Document or any action or proceeding relating to this Agreement or any other
Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an
agreement containing provisions substantially the same as those of this Section, to (i)
any assignee of or Participant in, or any prospective assignee of or Participant in, any
of its rights or obligations under this Agreement or (ii) any actual or prospective
counterparty (or its advisors) to any swap or derivative transaction relating to the
Borrower and its obligations, (g) with the consent of the Borrower or (h) to the extent
such Information (x) becomes publicly available other than as a result of a breach of this
Section or (y) becomes available to the Administrative Agent, any Lender, the Swing Line
Lender, the L/C Issuer or any of their respective Affiliates on a nonconfidential basis
from a source other than the Borrower and not as a result of any violation of any
confidentiality obligation to the Borrower. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of this Section, &#147;<U>Information</U>&#148; means all information received
from the Borrower or any Subsidiary relating to the Borrower or any Subsidiary or any of
their respective businesses, other than any such information that is available to the
Administrative Agent, any Lender, the Swing Line Lender or the L/C Issuer on a
nonconfidential basis prior to disclosure by the Borrower or any Subsidiary,
<U>provided</U> that, in the case of information received from the Borrower or any
Subsidiary after the date hereof, such information is clearly identified at the time of
delivery as confidential. Any Person required to maintain the confidentiality of
Information as provided in this Section shall be considered to have complied with its
obligation to do so if such Person has exercised the same degree of care to maintain the
confidentiality of such Information as such Person would accord to its own confidential
information. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of the Administrative Agent, the Lenders, the Swing Line Lender and the L/C Issuer
acknowledges that (a) the Information may include material non-public information
concerning the Borrower or a Subsidiary, as the case may be, (b) it has developed
compliance procedures regarding the use of material non-public information and (c) it will
handle such material non-public information in accordance with applicable law, including
Federal and state securities laws. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>16.5.&nbsp;&nbsp;<U>Survival
of Covenants, Etc</U>.&nbsp;&nbsp;</B>All covenants, agreements, representations and
warranties made herein, in the Revolving Credit Notes, in any of the other Loan Documents
or in any documents or other papers delivered by or on behalf of the Borrower or any of
its Subsidiaries pursuant hereto shall be deemed to have been relied upon by the Lenders
and the Administrative Agent, notwithstanding any investigation heretofore or hereafter
made by any of them, and shall survive the making by the Lenders of any of the Revolving
Credit Loans, the Swing Line Loans and the issuance, extension or renewal of any Letters
of Credit, as herein contemplated, and shall continue in full force and effect so long as
any Letter of Credit or any amount due under this Credit Agreement or the Revolving Credit
Notes or any of the other Loan Documents remains outstanding or any Lender has any
obligation to make any Revolving Credit Loans or the Administrative Agent has any
obligation to issue, extend or renew any Letter of Credit, and for such further time as
may be otherwise expressly specified in this Credit Agreement. All statements contained in
any certificate or other paper delivered to any Lender or the Administrative Agent at any
time by or on behalf of the Borrower or any of its Subsidiaries pursuant hereto or in
connection with the transactions contemplated hereby shall constitute representations and
warranties by the Borrower or such Subsidiary hereunder. </FONT></P>

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<P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>16.6.&nbsp;&nbsp;<U>Notices</U>.</B></FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>16.6.1.</B>&nbsp;&nbsp;<B><U>Notices
Generally</U>.</B>&nbsp;&nbsp;Except in the case of notices and other communications
expressly permitted to be given by telephone (and except as provided in &sect;16.6.2
below), all notices and other communications provided for herein shall be in writing and
shall be delivered by hand or overnight courier service, mailed by certified or registered
mail or sent by telecopier as follows, and all notices and other communications expressly
permitted hereunder to be given by telephone shall be made to the applicable telephone
number, as follows: </FONT>
</TD>
</TR>
</TABLE>
<BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=10%></TD>
               <TD WIDTH=90%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;
               if to the Borrower, the Administrative Agent, the L/C Issuer or the Swing Line
               Lender, to the address, telecopier number, electronic mail address or telephone
               number specified for such Person on <U>Schedule 16.6.1</U>; and </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=10%></TD>
               <TD WIDTH=90%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;
               if to any other Lender, to the address, telecopier number, electronic mail
               address or telephone number specified in its Administrative Questionnaire. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notices
sent by hand or overnight courier service, or mailed by certified or registered mail,
shall be deemed to have been given when received; notices sent by telecopier shall be
deemed to have been given when sent (except that, if not given during normal business
hours for the recipient, shall be deemed to have been given at the opening of business on
the next business day for the recipient). Notices delivered through electronic
communications to the extent provided in &sect;16.6.2, shall be effective as provided in
&sect;16.6.2. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>16.6.2.</B>&nbsp;&nbsp;<B><U>Electronic
Communications</U>.</B>&nbsp;&nbsp;Notices and other communications to the Lenders, the
Swing Line Lender and the L/C Issuer hereunder may be delivered or furnished by electronic
communication (including e-mail and Internet or intranet websites) pursuant to procedures
approved by the Administrative Agent, <U>provided</U> that the foregoing shall not apply
to notices to any Lender, the Swing Line Lender or the L/C Issuer pursuant to
&sect;&sect;2, 3 and 4 if such Lender, the Swing Line Lender or the L/C Issuer, as
applicable, has notified the Administrative Agent that it is incapable of receiving
notices under such Section by electronic communication. The Administrative Agent or the
Borrower may, in its discretion, agree to accept notices and other communications to it
hereunder by electronic communications pursuant to procedures approved by it,
<U>provided</U> that approval of such procedures may be limited to particular notices or
communications. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
the Administrative Agent otherwise prescribes, (i)&nbsp;notices and other communications
sent to an e-mail address shall be deemed received upon the sender&#146;s receipt of an
acknowledgement from the intended recipient (such as by the &#147;return receipt
requested&#148; function, as available, return e-mail or other written acknowledgement),
<U>provided</U> that if such notice or other communication is not sent during the normal
business hours of the recipient, such notice or communication shall be deemed to have been
sent at the opening of business on the next business day for the recipient, and
(ii)&nbsp;notices or communications posted to an Internet or intranet website shall be
deemed received upon the deemed receipt by the intended recipient at its e-mail address as
described in the foregoing clause&nbsp;(i) of notification that such notice or
communication is available and identifying the website address therefor. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>16.6.3.</B>&nbsp;&nbsp;<B><U>The
Platform</U>.</B>&nbsp;&nbsp;THE PLATFORM IS PROVIDED &#147;AS IS&#148; AND &#147;AS
AVAILABLE.&#148; THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR
COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY
DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF
ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY,
FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM
VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER
MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its
Related Parties (collectively, the &#147;<U>Agent Parties</U>&#148;) have any liability to
the Borrower, any Lender, the L/C Issuer, the Swing Line Lender or any other Person for
losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or
otherwise) arising out of the Borrower&#146;s or the Administrative Agent&#146;s
transmission of Borrower Materials through the Internet, except to the extent that such
losses, claims, damages, liabilities or expenses are determined by a court of competent
jurisdiction by a final and nonappealable judgment to have resulted from the gross
negligence or willful misconduct of such Agent Party; <U>provided</U>, <U>however</U>,
that in no event shall any Agent Party have any liability to the Borrower, any Lender, the
Swing Line Lender, the L/C Issuer or any other Person for indirect, special, incidental,
consequential or punitive damages (as opposed to direct or actual damages). </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>16.6.4.</B>&nbsp;&nbsp;<B><U>Changes
of Address</U>.</B>&nbsp;&nbsp;Each of the Borrower, the Administrative Agent, the L/C
Issuer, and the Swing Line Lender may change its address, telecopier or telephone number
for notices and other communications hereunder by notice to the other parties hereto. Each
other Lender may change its address, telecopier or telephone number for notices and other
communications hereunder by notice to the Borrower, the Administrative Agent, the L/C
Issuer and the Swing Line Lender. In addition, each Lender agrees to notify the
Administrative Agent from time to time to ensure that the Administrative Agent has on
record (i) an effective address, contact name, telephone number, telecopier number and
electronic mail address to which notices and other communications may be sent and (ii)
accurate wire instructions for such Lender. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT SIZE=3>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>16.6.5.</B>&nbsp;&nbsp;<B><U>Reliance
by Administrative Agent and the Lenders</U>.</B>&nbsp;&nbsp;The Administrative Agent, the
L/C Issuer, the Swing Line Lender and the Lenders shall be entitled to rely and act upon
any notices (including telephonic Loan Requests and Swing Line Loan Notices) purportedly
given by or on behalf of the Borrower even if (i) such notices were not made in a manner
specified herein, were incomplete or were not preceded or followed by any other form of
notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied
from any confirmation thereof. The Borrower shall indemnify the Administrative Agent, the
L/C Issuer, the Swing Line Lender, each Lender and the Related Parties of each of them
from all losses, costs, expenses and liabilities resulting from the reliance by such
Person on each notice purportedly given by or on behalf of the Borrower. All telephonic
notices to and other telephonic communications with the Administrative Agent may be
recorded by the Administrative Agent, and each of the parties hereto hereby consents to
such recording. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>16.7.&nbsp;&nbsp;<U>Governing
Law</U>.&nbsp;&nbsp;</B>THIS CREDIT AGREEMENT AND, EXCEPT AS OTHERWISE SPECIFICALLY
PROVIDED THEREIN, EACH OF THE OTHER LOAN DOCUMENTS ARE CONTRACTS UNDER THE LAWS OF THE
STATE OF NEW YORK AND SHALL FOR ALL PURPOSES BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED
BY THE LAWS OF SAID STATE (EXCLUDING THE LAWS APPLICABLE TO CONFLICTS OR CHOICE OF LAW
(OTHER THAN THE NEW YORK GENERAL OBLIGATIONS LAW &sect;5-1401)). EACH PARTY HERETO AGREES
THAT ANY SUIT FOR THE ENFORCEMENT OF THIS CREDIT AGREEMENT OR ANY OF THE OTHER LOAN
DOCUMENTS MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR ANY FEDERAL COURT
SITTING THEREIN AND CONSENTS TO THE NONEXCLUSIVE JURISDICTION OF SUCH COURT AND SERVICE OF
PROCESS IN ANY SUCH SUIT BEING MADE UPON THE BORROWER BY MAIL AT THE ADDRESS SPECIFIED IN
&sect;16.6. THE BORROWER HEREBY WAIVES ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO
THE VENUE OF ANY SUCH SUIT OR ANY SUCH COURT OR THAT SUCH SUIT IS BROUGHT IN AN
INCONVENIENT COURT. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>16.8.&nbsp;&nbsp;<U>Headings</U>.&nbsp;&nbsp;</B>The
captions in this Credit Agreement are for convenience of reference only and shall not
define or limit the provisions hereof. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>16.9.&nbsp;&nbsp;<U>Counterparts</U>.&nbsp;&nbsp;</B>This
Credit Agreement and any amendment hereof may be executed in several counterparts and by
each party on a separate counterpart, each of which when executed and delivered shall be
an original, and all of which together shall constitute one instrument. In proving this
Credit Agreement it shall not be necessary to produce or account for more than one such
counterpart signed by the party against whom enforcement is sought. Delivery by facsimile
by any of the parties hereto of an executed counterpart hereof or of any amendment or
waiver hereto shall be as effective as an original executed counterpart hereof or of such
amendment or waiver and shall be considered a representation that an original executed
counterpart hereof or such amendment or waiver, as the case may be, will be delivered. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>16.10.&nbsp;&nbsp;
<U>Entire Agreement, Etc</U>.&nbsp;&nbsp;</B>The Loan Documents and any
other documents executed in connection herewith or therewith express the entire
understanding of the parties with respect to the transactions contemplated
hereby. Neither this Credit Agreement nor any term hereof may be changed,
waived, discharged or terminated, except as provided in &sect;16.12. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>16.11.&nbsp;&nbsp;<U>Waiver
of Jury Trial</U>.&nbsp;&nbsp;</B>EACH OF THE PARTIES HERETO HEREBY WAIVES ITS RIGHT TO A
JURY TRIAL WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT OF ANY DISPUTE IN CONNECTION
WITH THIS CREDIT AGREEMENT, THE NOTES OR ANY OF THE OTHER LOAN DOCUMENTS, ANY RIGHTS OR
OBLIGATIONS HEREUNDER OR THEREUNDER OR THE PERFORMANCE OF SUCH RIGHTS AND OBLIGATIONS OR
ANY COURSE OF CONDUCT, COURSE OF DEALINGS, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR
ACTIONS OF ANY PARTY, INCLUDING ANY COURSE OF CONDUCT, COURSE OF DEALINGS, STATEMENTS OR
ACTIONS OF THE ADMINISTRATIVE AGENT OR ANY LENDER RELATING TO THE ADMINISTRATION OF THE
LOANS OR ENFORCEMENT OF THE LOAN DOCUMENTS AND AGREES THAT IT WILL NOT SEEK TO CONSOLIDATE
ANY SUCH ACTION WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN
WAIVED. Except as prohibited by law, the Borrower hereby waives any right it may have to
claim or recover in any litigation referred to in the preceding sentence any special,
exemplary, punitive or consequential damages or any damages other than, or in addition to,
actual damages. The Borrower (a) certifies that no representative, agent or attorney of
any Lender or the Administrative Agent has represented, expressly or otherwise, that such
Lender or the Administrative Agent would not, in the event of litigation, seek to enforce
the foregoing waivers and (b) acknowledges that the Administrative Agent and the Lenders
have been induced to enter into this Credit Agreement, the other Loan Documents to which
it is a party<I> </I>and the Subordination Documents to which it is a party by, among
other things, the waivers and certifications contained herein. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>16.12.&nbsp;&nbsp;<U>Consents,
Amendments, Waivers, Etc</U>.&nbsp;&nbsp;</B>Any consent or approval required or permitted
by this Credit Agreement to be given by the Lenders may be given, and any term of this
Credit Agreement, the other Loan Documents or any other instrument related hereto or
mentioned herein may be amended, and the performance or observance by the Borrower or any
of its Subsidiaries of any terms of this Credit Agreement, the other Loan Documents or
such other instrument or the continuance of any Default or Event of Default may be waived
(either generally or in a particular instance and either retroactively or prospectively)
with, but only with, the written consent of the Borrower and the written consent of the
Required Lenders and acknowledged by the Administrative Agent. Notwithstanding the
foregoing, no amendment, modification or waiver shall: </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%></TD>
<TD WIDTH=95%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;
without the written consent of the Borrower and each Lender directly affected
thereby:</TD>
</TR>
</TABLE>
<BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=10%></TD>
               <TD WIDTH=90%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;
               reduce or forgive the principal amount of any Revolving Credit Loans, Swing Line
               Loans or Reimbursement Obligations, or reduce the rate of interest on the
               Revolving Credit Notes or the amount of the Commitment Fee or Letter of Credit
               Fees (other than interest accruing pursuant to &sect;5.11.2 following the
               effective date of any waiver by the Required Lenders of the Default or Event of
               Default relating thereto); </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=10%></TD>
               <TD WIDTH=90%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;
               increase the amount of such Lender&#146;s Commitment or extend the expiration
               date of such Lender&#146;s Commitment or reinstate any Commitment that has been
               terminated; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=10%></TD>
               <TD WIDTH=90%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;
               postpone or extend the Revolving Credit Loan Maturity Date or any other
               regularly scheduled dates for payments of principal of, or interest on, the
               Revolving Credit Loans, the Swing Line Loans or Reimbursement Obligations or any
               fees or other amounts payable to such Lender (it being understood that (A) a
               waiver of the application of the default rate of interest pursuant to
               &sect;5.11.2, and<B><I> </I></B><I></I>(B) any vote to rescind any acceleration
               made pursuant to &sect;13.1 of amounts owing with respect to the Revolving
               Credit Loans and other Obligations<I> </I>shall require only the approval of the
               Required Lenders); and </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=10%></TD>
               <TD WIDTH=90%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;
               other than pursuant to a transaction permitted by the terms of this Credit
               Agreement, release all or substantially all of the Collateral (excluding, if the
               Borrower or any Subsidiary of the Borrower becomes a debtor under the federal
               Bankruptcy Code, the release of &#147;cash collateral&#148;, as defined in
               Section 363(a) of the federal Bankruptcy Code pursuant to a cash collateral
               stipulation with the debtor approved by the Required Lenders) or release all or
               substantially all of the Guarantors from their guaranty obligations under the
               Guaranty; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;
               without the written consent of all of the Lenders, waive a Default or Event of
               Default under &sect;13.1(a) or &sect;13.1(b), amend or waive this &sect;16.12 or
               the definition of Required Lenders or change &sect;&sect;13.4 or 16.1 in a
               manner that would alter the pro rata sharing of payments required thereby; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;
               (i) no amendment, waiver or consent shall, unless in writing and signed by the
               L/C Issuer in addition to the Lenders required above, affect the rights or
               duties of the L/C Issuer under this Credit Agreement or any Issuer Document
               relating to any Letter of Credit issued or to be issued by it; (ii) no
               amendment, waiver or consent shall, unless in writing and signed by the Swing
               Line Lender in addition to the Lenders required above, affect the rights or
               duties of the Swing Line Lender under this Credit Agreement; (iii) no amendment,
               waiver or consent shall, unless in writing and signed by the Administrative
               Agent in addition to the Lenders required above, affect the rights or duties of
               the Administrative Agent under this Credit Agreement or any other Loan Document;
               and (iv) the Fee Letter may be amended, or rights or privileges thereunder
               waived, in a writing executed only by the parties thereto; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;
               without the written consent of each Lender directly affected thereby, waive any
               condition set forth in &sect;11. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
waiver shall extend to or affect any obligation not expressly waived or impair any right
consequent thereon. No course of dealing or delay or omission on the part of the
Administrative Agent or any Lender in exercising any right shall operate as a waiver
thereof or otherwise be prejudicial thereto. No notice to or demand upon the Borrower
shall entitle the Borrower to other or further notice or demand in similar or other
circumstances. Notwithstanding anything to the contrary herein, no Delinquent Lender shall
have any right to approve or disapprove any amendment, waiver or consent hereunder, except
that the Commitment of such Lender may not be increased or extended without the consent of
such Lender. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>16.13.&nbsp;&nbsp;<U>Severability</U>.&nbsp;&nbsp;</B>The
provisions of this Credit Agreement are severable and if any one clause or provision
hereof shall be held invalid or unenforceable in whole or in part in any jurisdiction,
then such invalidity or unenforceability shall affect only such clause or provision, or
part thereof, in such jurisdiction, and shall not in any manner affect such clause or
provision in any other jurisdiction, or any other clause or provision of this Credit
Agreement in any jurisdiction. </FONT></P>

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<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>16.14.&nbsp;&nbsp;<U>USA
PATRIOT Act Notice</U>.&nbsp;&nbsp;</B>Each Lender that is subject to the Act
(as hereinafter defined) and the Administrative Agent (for itself and not on
behalf of any Lender) hereby notifies the Borrower that pursuant to the
requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into
law October 26, 2001)) (the &#147;<U>Act</U>&#148;), it is required to obtain,
verify and record information that identifies the Borrower and/or its
Subsidiaries, which information includes the name and address of the Borrower or
its Subsidiaries and other information that will allow such Lender or the
Administrative Agent, as applicable, to identify the Borrower and its
Subsidiaries in accordance with the Act. </FONT></P>

<!-- MARKER FORMAT-SHEET="Stroock Head Major Center Bold" FSL="Default" -->
<P ALIGN=CENTER><FONT SIZE=3><B>17.&nbsp;&nbsp;<U>ACKNOWLEDGEMENT</U>.</B></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent" FSL="Default" -->
<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Borrower hereby acknowledges that neither the Administrative Agent nor any Lender has any
fiduciary relationship with or fiduciary duty to the Borrower arising out of or in
connection with this Credit Agreement or any of the other Loan Documents, and that the
relationship between the Administrative Agent and the Lenders, on the one hand, and the
Borrower, on the other hand, in connection herewith and therewith is solely that of
creditor and debtor. </FONT></P>

<P ALIGN=CENTER><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[remainder
of page intentionally left blank] </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent" FSL="Default" -->
<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>IN
WITNESS WHEREOF,</B> the undersigned have duly executed this Credit Agreement as a sealed
instrument as of the date first set forth above. </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=50%></TD>
<TD WIDTH=50%><B>CONTAINER APPLICATIONS<BR>
&nbsp;&nbsp;&nbsp;INTERNATIONAL, INC.</B><BR>
<BR>
<BR>
By:_________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:<BR>
<BR>
<BR>
<B>BANK OF AMERICA, N.A.</B>, as Administrative Agent<BR>
<BR>
<BR>
By:_________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:<BR>
<BR>
<BR>
<B>BANK OF AMERICA,  N.A.</B>, as Lender, Swing Line Lender and L/C
Issuer<BR>
<BR>
<BR>
By:_________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:<BR>
<BR>
<BR>
<B>LASALLE BANK NATIONAL ASSOCIATION</B>, as a Lender and as
Syndication Agent<BR>
<BR>
<BR>
By:_________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:<BR>
<BR>
<BR>
<BR>
<B>UNION BANK OF CALIFORNIA, N.A.</B>, as a Lender and as Co-Agent<BR>
<BR>
<BR>
By:_________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:<BR>
<BR>
<BR>
<B>CALIFORNIA BANK &amp; TRUST</B>, as a Lender<BR>
<BR>
<BR>
By:_________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:<BR>
<BR>
<BR>
<B>COMERICA BANK</B>, as a Lender<BR>
<BR>
<BR>
By:_________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:<BR>
<BR>
<BR>
<B>NATEXIS BANQUES POPULAIRES</B>, as a Lender<BR>
<BR>
<BR>
By:_________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:<BR>
<BR>
<BR>
<B>ING BANK NV</B>, as a Lender<BR>
<BR>
<BR>
By:_________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:<BR>
<BR>
<BR>
_______________________, as a Lender<BR>
<BR>
<BR>
By:_________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:<BR>
<BR>
<BR>
<B>FLEET  NATIONAL  BANK</B>, as L/C Issuer of Existing Letters of
Credit<BR>
<BR>
<BR>
By:_________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:<BR>
</TD>
</TR>
</TABLE>
<BR>


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