GENERAL BINDING CORP
METERIAL CONTRACTS
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>3
<FILENAME>eightkex10.htm
<DESCRIPTION>METERIAL CONTRACTS
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD><TITLE>AMENDED AND RESTATED MULTICURRENCY CREDIT AGREEMENT</TITLE>
<META content="Microsoft FrontPage 4.0" name=GENERATOR></HEAD>
<BODY><FONT face="Times,Times New Roman">
<hr>
<P align=center>Second Amended and Restated Multicurrency Credit Agreement</P>
<P align=center>dated as of</P>
<P align=center>January&nbsp;11, 2002</P>
<P align=center>among</P>
<P align=center>General Binding Corporation,</P>
<P align=center>GBC Nederland B.V., </P>
<P align=center>The Banks Party Hereto,</P>
<P align=center>and</P>
<P align=center>Harris Trust and Savings Bank,<br>
as Administrative Agent</P>
<P align=center>and each of</P>
<P align=center>Bank One, NA<br>
as Co-Syndication Agent and Co-Agent</P>
<P align=center>and</P>
<P align=center>The Bank of New York</P>
<P align=center>and</P>
<P align=center>Credit Agricole Indosuez</P>
<P align=center>and<BR><BR>LaSalle Bank National Association<br>
as Co-Agents</P>
<hr>
<B>
<P align=center>Table of Contents</P></B>
<P align=center>(This Table of Contents is not part of the Agreement)</P>
<P align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></FONT>
<TABLE cellSpacing=0 cellPadding=7 width=661 border=0>

  <TR>
    <TD vAlign=top width="156" colSpan=2></TD>
    <TD vAlign=top width="427"></TD>
    <TD vAlign=top width="30"><font face="Times,Times New Roman">Page</font></TD></TR>
  <TR>
    <TD vAlign=top width="156" colSpan=2><FONT face="Times,Times New Roman">
      <P>Section&nbsp;1.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>The Committed Facilities</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>2</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section 1.1.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Term Loan Commitments</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>2</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;1.2.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>The Revolving Credit Commitments, the Committed Revolving
      Loans</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>3</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;1.3.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Letters of Credit</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>3</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="156" colSpan=2><FONT face="Times,Times New Roman">
      <P>Section&nbsp;2.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Interest Rates and Manner of Borrowing Term and Committed Revolving
      Loans</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P><br>
      9</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;2.1.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Applicable Interest Rates</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>9</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;2.2.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Manner of Borrowing Committed Revolving Loans and Term
    Loans</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>12</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="156" colSpan=2><FONT face="Times,Times New Roman">
      <P>Section&nbsp;3.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>The Domestic Swing Line Loans</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>14</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;3.1.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>The Domestic Swing Line Loans</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>14</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;3.2.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Interest on Domestic Swing Line Loans</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>14</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;3.3.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Requests for Domestic Swing Line Loans</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>14</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;3.4.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Refunding Domestic Swing Line Loans</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>15</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;3.5.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Participations</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>15</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section 3.6.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Indemnification</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>16</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="156" colSpan=2><FONT face="Times,Times New Roman">
      <P>Section&nbsp;4.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>The Multicurrency Swing Line Loans</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>16</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;4.1.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>The Multicurrency Swing Line Loans</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>16</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;4.2.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Requests for Multicurrency Swing Line Loans.</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>17</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;4.3.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>The Participating Interests.</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>17</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section 4.4.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Indemnification</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>19</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="156" colSpan=2><FONT face="Times,Times New Roman">
      <P>Section&nbsp;5.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>General Provisions Applicable to All Loans</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>19</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;5.1.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Interest Periods</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>19</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;5.2.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Minimum Borrowing Amount</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>20</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;5.3.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Maturity of Loans</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>20</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;5.4.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Prepayments.</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>20</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;5.5.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Default Rate.</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>24</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;5.6.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>The Notes</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>25</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;5.7.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Commitment Terminations</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>26</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;5.8.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Funding Indemnity</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>27</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="645" colspan="4">
      <p align="center">i</TD>
  </TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;5.9.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Rate and Determinations of Original Dollar Amount and U.S. Dollar
      Equivalent</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P><br>
      27</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;5.10.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>(a) Designation of Borrowing Subsidiaries</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>28</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="156" colSpan=2><FONT face="Times,Times New Roman">
      <P>Section&nbsp;6.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Fees and Place and Application of Payments</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>28</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;6.1.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Commitment Fees</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>28</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;6.2.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Letter of Credit Fees</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>29</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;6.3.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Audit Fees</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>29</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;6.4.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Administrative Agent Fees</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>29</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;6.5.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Amendment Fee</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>29</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;6.6.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Fee Calculations</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>29</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;6.7.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Place of Payments</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>29</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;6.8.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Funds and Remittance</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>30</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;6.9.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Application of Payments</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>30</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="156" colSpan=2><FONT face="Times,Times New Roman">
      <P>Section 7.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Security</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>31</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;7.1.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Collateral</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>31</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;7.2.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Liens on Real Property</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>32</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;7.3.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Guarantees</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>32</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;7.4.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Foreign Security</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>33</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;7.5.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Further Assurances and Modifications</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>33</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="156" colSpan=2><FONT face="Times,Times New Roman">
      <P>Section&nbsp;8.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Definitions; Interpretations</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>35</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;8.1.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Definitions</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>35</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;8.2.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Interpretation</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>58</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;8.3.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Change in<I> </I>Accounting<I> </I>Principles</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>59</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="156" colSpan=2><FONT face="Times,Times New Roman">
      <P>Section&nbsp;9.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Representations and Warranties of Company</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>59</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;9.1.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Corporate Organization and Authority</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>59</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;9.2.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Subsidiaries</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>59</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;9.3.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Corporate Authority and Validity of Obligations</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>60</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;9.4.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Financial Statements</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>60</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;9.5.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>No Litigation; No Labor Controversies</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>61</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;9.6.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Taxes</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>61</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;9.7.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Approvals</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>61</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;9.8.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>ERISA</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>61</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;9.9.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Government Regulation</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>61</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;9.10.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Margin Stock</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>62</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;9.11.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Licenses and Authorizations; Compliance with Environmental and Health
      Laws</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>62</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;9.12.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Ownership of Property; Liens</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>62</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;9.13.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>No Burdensome Restrictions; Compliance with Agreements</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>62</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;9.14.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Full Disclosure</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>62</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="645" colSpan=4>
      <p align="center">ii</TD>
  </TR>
  <TR>
    <TD vAlign=top width="156" colSpan=2><FONT face="Times,Times New Roman">
      <P>Section&nbsp;10.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Representations and Warranties of Borrowing Subsidiaries</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>63</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;10.1.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Corporate Organization and Authority</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>63</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;10.2.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Corporate Authority and Validity of Obligations</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>63</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="156" colSpan=2><FONT face="Times,Times New Roman">
      <P>Section&nbsp;11.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Conditions Precedent</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>64</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;11.1.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Initial Borrowing</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>64</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;11.2.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>All Credit Events</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>66</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;11.3.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>First Borrowing by Each Borrowing Subsidiary</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>67</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;11.4.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Additional Conditions to Credit Events other than Refunding
      Borrowings.</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>68</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="156" colSpan=2><FONT face="Times,Times New Roman">
      <P>Section 12.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Covenants</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>68</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.1.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Corporate Existence; Subsidiaries</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>68</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.2.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Maintenance</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>68</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.3.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Taxes</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>69</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.4.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>ERISA</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>69</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.5.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Insurance</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>69</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.6.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Financial Reports and Other Information</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>69</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.7.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Bank Inspection Rights</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>72</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.8.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Conduct of Business</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>72</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.9.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Liens</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>72</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.10.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Use of Proceeds; Regulation&nbsp;U</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>74</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.11.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Sales and Leasebacks</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>75</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.12.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Mergers, Consolidations and Sales of Assets</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>75</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.13.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Use of Property and Facilities; Environmental and Health and Safety
      Laws</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P><br>
      77</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.14.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Investments, Acquisitions, Loans, Advances and Guaranties</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>77</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.15.</FONT></P></TD>
    <TD vAlign=top width="427"><B><FONT face="Times,Times New Roman">
      <P>[Intentionally Deleted]</B></FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>79</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.16.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Current Ratio</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>79</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.17.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Leverage Ratios</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>79</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.18.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Interest Coverage Ratio</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>80</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.19.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Minimum Consolidated EBITDA</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>80</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.20.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Dividends and Other Restricted Payments</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>80</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.21.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Company as Domestic Operation</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>81</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.22.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Indebtedness</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>81</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.23.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Consolidated Capital Expenditures</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>82</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.24.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>No Restrictions on Subsidiary Distributions</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>82</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.25.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Transactions with Affiliates</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>83</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.26.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Compliance with Laws</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>83</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.27.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Subordinated Indebtedness</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>83</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.28.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>European Monetary Union</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>83</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;12.29.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>No Changes in Fiscal Year</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>85</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="645" colSpan=4>
      <p align="center">iii</TD>
  </TR>
  <TR>
    <TD vAlign=top width="156" colSpan=2><FONT face="Times,Times New Roman">
      <P>Section&nbsp;13.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Events of Default and Remedies</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>85</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;13.1.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Events of Default</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>85</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;13.2.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Non-Bankruptcy Defaults</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>87</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;13.3.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Bankruptcy Defaults</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>88</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;13.4.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Collateral for Undrawn Letters of Credit</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>88</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;13.5.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Notice of Default</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>89</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;13.6.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Expenses</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>89</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="156" colSpan=2><FONT face="Times,Times New Roman">
      <P>Section&nbsp;14.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Change in Circumstances</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>89</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;14.1.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Change of Law</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>89</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;14.2.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Unavailability of Deposits or Inability to Ascertain, or Inadequacy of,
      LIBOR</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P><br>
      89</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;14.3.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Increased Cost and Reduced Return</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>90</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;14.4.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Lending Offices</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>92</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;14.5.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Discretion of Bank as to Manner of Funding</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>92</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="156" colSpan=2><FONT face="Times,Times New Roman">
      <P>Section&nbsp;15.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>The Agents</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>92</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;15.1.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Appointment and Authorization of Agents</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>92</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;15.2.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Agents and Its Affiliates</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>93</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;15.3.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Action by Agents</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>93</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;15.4.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Consultation with Experts</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>94</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;15.5.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Liability of Agents; Credit Decision</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>94</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;15.6.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Indemnity</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>95</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;15.7.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Resignation or Removal of Administrative Agent and Successor
      Administrative Agent</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P><br>
      95</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;15.8.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Payments</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>96</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;15.9.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Co-Agents</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>96</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="156" colSpan=2><FONT face="Times,Times New Roman">
      <P>Section&nbsp;16.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>The Guarantees</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>96</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;16.1.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>The Guarantees</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>96</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;16.2.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Guarantee Unconditional</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>97</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;16.3.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Discharge Only Upon Payment in Full; Reinstatement in Certain
      Circumstances</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P><br>
      98</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;16.4.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Waivers</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>98</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;16.5.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Limit on Recovery</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>98</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;16.6.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Stay of Acceleration</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>98</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;16.7.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Benefit to Guarantors</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>98</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="156" colSpan=2><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Miscellaneous</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>99</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.1.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Withholding Taxes</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>99</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.2.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>No Waiver of Rights</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>101</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.3.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Non-Business Day</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>101</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.4.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Documentary Taxes</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>101</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.5.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Survival of Representations</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>101</FONT></P></TD></TR>
  <tr>
    <TD vAlign=top width="645" colSpan=4>
      <p align="center">iv</TD>
  </tr>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.6.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Survival of Indemnities</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>101</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.7.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Sharing of Set-Off</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>102</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.8.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Notices</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>102</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.9.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Counterparts</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>103</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.10.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Successors and Assigns</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>103</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.11.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Participants and Note Assignees</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>103</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.12.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Assignment of Commitments by Banks</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>103</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.13.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Amendments</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>105</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.13A.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Amendments to Loan Documents</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>106</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.14.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Headings</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>106</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.15.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Legal Fees, Other Costs and Indemnification</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>106</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.16.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Set Off</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>107</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.17.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Currency</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>108</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section 17.18.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Unlawful Interest</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>108</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section 17.19.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Several Liability of Foreign Borrowers</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>108</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.20.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Entire Agreement, Construction and Waiver</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>109</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.21.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Governing Law</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>109</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.22.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Submission to Jurisdiction; Waiver of Jury Trial</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>109</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section 17.23.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Confidentiality.</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>109</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section 17.24<I>.</I></FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Previous Notes.</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>110</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.25.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Reaffirmation of Collateral Documents</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>110</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="24">&nbsp;</TD>
    <TD vAlign=top width="116"><FONT face="Times,Times New Roman">
      <P>Section&nbsp;17.26.</FONT></P></TD>
    <TD vAlign=top width="427"><FONT face="Times,Times New Roman">
      <P>Assignments and Assumptions of Loans and Commitments</FONT></P></TD>
    <TD vAlign=top width="30"><FONT face="Times,Times New Roman">
      <P>110</FONT></P></TD></TR></TABLE><FONT
face="Times,Times New Roman"></FONT>
<TABLE cellSpacing=0 cellPadding=7 width=638 border=0>

  <TR>
    <TD vAlign=top width="23%">&nbsp;</TD>
    <TD vAlign=top width="4%">&nbsp;</TD>
    <TD vAlign=top width="74%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=justify>Exhibit&nbsp;A-1</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P align=justify>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P align=justify>Term A Note</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=justify>Exhibit&nbsp;A-2</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P align=justify>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P align=justify>Term B Note</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=justify>Exhibit&nbsp;A-3</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P align=justify>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P align=justify>Committed Revolving Loan Note</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=justify>Exhibit&nbsp;B</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P align=justify>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P align=justify>Domestic Swing Line Note</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=justify>Exhibit&nbsp;C</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P align=justify>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P align=justify>Multicurrency Swing Line Note</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=justify>Exhibit&nbsp;D</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P align=justify>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P align=justify>Notice of Payment Request</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Exhibit&nbsp;E</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P>-</FONT></P></TD>
    <TD vAlign=top width="74%"><B><FONT face="Times,Times New Roman">
      <P>[Intentionally Deleted]</B></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Exhibit&nbsp;F</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P>Compliance Certificate</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Exhibit&nbsp;G</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P>Election to Participate</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Exhibit&nbsp;H</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P>Election to Terminate</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Exhibit&nbsp;I</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P>Opinion of Counsel</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Exhibit&nbsp;J</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P>Subsidiary Guarantee Agreement</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Exhibit&nbsp;K</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P>Foreign Investment List</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Exhibit&nbsp;L</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P>Borrowing Base Certificate</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Schedule&nbsp;1</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P>Existing Letters of Credit</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Schedule&nbsp;9.2</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P>List of Subsidiaries</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Schedule 9.8</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P>ERISA</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Schedule&nbsp;9.12</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P>Real Property</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Schedule&nbsp;11.1(j)</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P>Mortgages and Title Insurance</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Schedule 12.9</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P>Permitted Liens</FONT></P></TD></TR>
  <tr>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Schedule&nbsp;12.22</FONT></P></TD>
    <TD vAlign=top width="4%"><FONT face="Times,Times New Roman">
      <P>-</FONT></P></TD>
    <TD vAlign=top width="74%"><FONT face="Times,Times New Roman">
      <P>Permitted Indebtedness</FONT></P></TD>
  </tr>
  <tr>
    <TD vAlign=top width="645" colSpan=3>
      <p align="center">v</TD>
  </tr>
</TABLE><FONT
face="Times,Times New Roman">
<B>
<P align=center>Second Amended and Restated Multicurrency Credit
Agreement</P></B>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This Second Amended and Restated Multicurrency Credit Agreement
is entered into as of January&nbsp;11, 2002, by and among General Binding
Corporation, a Delaware corporation (the <I>"Company"</I>), GBC Nederland B.V.,
a private company with limited liability incorporated under the laws of the
Netherlands with its corporate seat at Born, the Netherlands, each of the
financial institutions or lending institutions which are or hereafter become
party hereto (hereinafter referred to as a <I>"Bank"</I> and collectively as the
<I>"Banks"</I>), Harris Trust and Savings Bank in its capacity as agent
hereunder (hereinafter referred to as the <I>"Administrative Agent"</I>), and
LaSalle Bank National Association, Bank One, NA, The Bank of New York and Credit
Agricole Indosuez in their respective capacities as Co-Agents hereunder
(hereinafter referred to as the <I>"Co-Agents"</I>)<I>.</I> The Company and each
Borrowing Subsidiary are at times hereinafter referred to individually as a
<I>"Borrower"</I> and collectively as the <I>"Borrowers"</I>.</P>
<P align=center></P><U>
<P align=center>R E C I T A L S</P></U>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A. The Borrowers have requested that the Banks continue to
extend credit to the Borrowers.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
B. The Borrowers, the Banks and the Agents are currently party
to that certain Amended and Restated Multicurrency Credit Agreement dated as of
November&nbsp;12, 1999 (as amended, the <I>"Previous Credit Agreement"</I>). The
Borrowers hereby request that certain amendments be made to the Previous Credit
Agreement and, for the sake of clarity and convenience, that the Previous Credit
Agreement be restated as so amended. As part of such amendments to the Previous
Credit Agreement, the Borrowers have requested that the Banks refinance the
Loans thereunder (the <I>"Previous Loans"</I>), extend the maturity of the
credit facility provided thereby, decrease the availability of the revolving
credit loans and restate a portion of the revolving credit loans as term loans,
all on and subject to the terms and conditions set forth below. This Agreement
shall become effective, and shall amend and restate the Previous Credit
Agreement, upon the execution of this Agreement by the Credit Parties signatory
hereto, the Administrative Agent and the Banks and the satisfaction of the
conditions precedent contained in Section&nbsp;11 hereof; and from and after the
Effective Date, (i)&nbsp;all references made to the Previous Credit Agreement in
the Loan Documents or in any other instrument or document shall, without more,
be deemed to refer to this Second Amended and Restated Multicurrency Credit
Agreement and (ii)&nbsp;the Previous Credit Agreement shall be deemed amended
and restated in its entirety hereby. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
C. The Banks, upon acceptance of this Agreement in writing and
satisfaction of the conditions precedent contained in Section&nbsp;11 hereof,
will continue to lend monies and/or make advances, extensions of credit or other
financial accommodations to, on behalf of or for the benefit of the Borrowers
pursuant hereto, and any Previous Loans which were Committed Loans under the
Previous Credit Agreement and which are not repaid on the Effective Date will
automatically, and without further action on the part of the Banks or any
Borrower, become Committed Revolving Loans or Term Loans under this Agreement
and be evidenced by the Committed Revolving Loan Notes and Term Notes,
respectively, issued under this Agreement. Any Previous Loans which were
Committed Loans under the Previous Credit Agreement and which are repaid on the
Effective Date will be paid to the holders of the Committed Loan Notes issued
under the Previous Credit Agreement ratably according to their interests
therein; <I>provided</I> that Domestic Swing Line Loans and Multicurrency Swing
Line Loans outstanding on the Effective Date will become Domestic Swing Line
Loans and Multicurrency Swing Line Loans, respectively, under this Agreement and
be evidenced by the Domestic Swing Line Notes and Multicurrency Swing Line
Notes, respectively, issued under this Agreement.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Now, Therefore, in consideration of the recitals set forth
above, which by this reference are incorporated into this Agreement set forth
below, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged and subject to the terms and
conditions hereof and on the basis of the representations and warranties herein
set forth, the Borrowers, the Agents and the Banks hereby agree to the
following:</P>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<P>Section 1. The Committed Facilities.</P></DIR></DIR></DIR></DIR></DIR>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section 1.1. Term Loan Commitments</I>. (a)&nbsp;Subject to
the terms and conditions hereof, each Bank with a Term&nbsp;A Loan Commitment,
by its acceptance hereof, severally agrees to make a loan (individually a
<I>"Term&nbsp;A Loan"</I> and collectively for all the Banks the <I>"Term&nbsp;A
Loans"</I>) to the Company in U.S. Dollars in the amount of such Bank's
Term&nbsp;A Loan Commitment, <I>provided</I> that such initial Term&nbsp;A Loan
represents a continuation and modification of such Bank's Committed Loans under
the Previous Credit Agreement. The Term&nbsp;A Loans shall initially be advanced
in a single Borrowing on the Effective Date. The Company may elect that
Borrowings of the Term&nbsp;A Loans be outstanding as Domestic Rate Loans or
Eurocurrency Loans. As set forth in the last sentence of Section&nbsp;5.4(a),
Term&nbsp;A Loans may only be reborrowed in a Refunding Borrowing. For the
avoidance of doubt, it is hereby agreed and understood by all of the parties
hereto, notwithstanding any other provision of this Agreement or any other Loan
Document to the contrary, that (i)&nbsp;all references to "reborrowing" of any
Loan in a Refunding Borrowing refer solely to what is commonly referred to as
the "conversion" or "continuation" of the principal amount of an already
outstanding Loan at the end of any relevant Interest Period for such Loan,
(ii)&nbsp;no such "reborrowing" of any Loan in a Refunding Borrowing shall
require that any Bank advance any additional funds to any Borrower, i.e., the
funds "reborrowed" for a new Interest Period in such a Refunding Borrowing are
the same funds which were outstanding under the Loan maturing at the end of the
expiring Interest Period, and (iii)&nbsp;Refunding Borrowings exist under this
Agreement solely to allow the Borrowers to keep Loans outstanding for additional
Interest Periods in light of the requirement under Section&nbsp;5.3(a) hereof
that each Loan be repaid at the end of each Interest Period for such Loan.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) Subject to the terms and conditions hereof, each Bank with
a Term&nbsp;B Loan Commitment, by its acceptance hereof, severally agrees to
make a loan (individually a <I>"Term&nbsp;B Loan"</I> and collectively for all
the Banks the <I>"Term&nbsp;B Loans"</I>) to the Company in U.S. Dollars in the
amount of such Bank's Term&nbsp;B Loan Commitment, <I>provided</I> that such
initial Term&nbsp;B Loan represents a continuation and modification of such
Bank's Committed Loans under the Previous Credit Agreement. The Term&nbsp;B
Loans shall initially be advanced in a single Borrowing on the Effective Date.
The Company may elect that Borrowings of the Term&nbsp;B Loans be outstanding as
Domestic Rate Loans or Eurocurrency Loans. As set forth in the last sentence of
Section&nbsp;5.4(a),&nbsp;</P>
<P align=center>2</P>
<P align=justify> Term&nbsp;B Loans may only be reborrowed in a Refunding
Borrowing (as described in the last sentence of Section&nbsp;1.1(a).</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;1.2. The Revolving Credit Commitments</I>;
<I>the Committed Revolving Loans</I>. Subject to the terms and conditions
hereof, each Bank with a Revolving Credit Commitment, by its acceptance hereof,
severally agrees, before the Revolving Credit Termination Date, to make a loan
or loans (individually a "<I>Committed Revolving Loan</I>" and collectively
"<I>Committed Revolving Loans</I>") to each and any Borrower from time to time
on a revolving basis in U.S.&nbsp;Dollars and Alternative Currencies in an
aggregate outstanding Original Dollar Amount for all the Borrowers (taken
together) not to exceed its Revolving Credit Commitment, <I>provided</I> that
any Committed Revolving Loan borrowed on the Effective Date represents a
continuation andmodification of such Bank's Committed Loans under the Previous
Credit Agreement. At no time shall the aggregate Original Dollar Amount of
outstanding Revolving Loans (whether Committed Revolving Loans or Swing Line
Loans) and L/C Obligations to all Borrowers (taken together) exceed the lesser
of (i)&nbsp;the Revolving Credit Commitments then in effect, which Revolving
Credit Commitments on the date hereof total $90,000,000, <I>minus</I>, until the
Administrative Agent has been granted a first priority perfected security
interest in not less than 65% of the equity interest of IBICO GmbH (the
<I>"IBICO GmbH Pledge Event"</I>), $10,000,000, and (ii)&nbsp;the Borrowing Base
as then determined and computed in accordance with the terms hereof. Each
Borrowing of Committed Revolving Loans shall be made ratably from the Banks in
proportion to their respective Revolver Percentages. The relevant Borrower may
elect, through the Company, that each Borrowing of Committed Revolving Loans
denominated in U.S. Dollars be made available by means of either Domestic Rate
Loans or Eurocurrency Loans<I>.</I> All Loans denominated in an Alternative
Currency shall be Eurocurrency Loans. </P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;1.3. Letters of Credit</I>. (a)&nbsp;
<I>General Terms</I>. Subject to the terms and conditions hereof, as part of the
Revolving Credit, the Administrative Agent or Multicurrency Swing Line Bank
(each an <I>"Issuing Agent"</I>) shall from time to time issue commercial and
standby letters of credit (each a <I>"Letter of Credit"</I>) for the account of
any one or more of the Borrowers (whether or not also for the account of any
other Subsidiary of the Company as well) prior to the Revolving Credit
Termination Date, provided that (x) the aggregate Original Dollar Amount of L/C
Obligations at any time outstanding shall not exceed the difference between the
Revolving Credit Commitments in effect at such time <I>minus</I>, until the
IBICO GmbH Pledge Event has occurred, $10,000,000, (or, if less, the Borrowing
Base as then determined and computed in accordance with the terms hereof) and
the aggregate Original Dollar Amount of Revolving Loans (whether Committed
Revolving Loans or Swing Line Loans) then outstanding, (y) the aggregate
Original Dollar Amount of Committed L/C Obligations at any time outstanding
shall not exceed the L/C Commitment then in effect and (z) the aggregate
Original Dollar Amount of Foreign Credit L/C Obligations and Multicurrency Swing
Line Loans at any time outstanding shall not exceed the Multicurrency Swing Line
Commitment in effect at such time. Notwithstanding anything herein to the
contrary, the Existing Letters of Credit shall constitute <I>"Letters of
Credit"</I> herein for all purposes of this Agreement to the same extent, and
with the same force and effect as if such Letters of Credit had been issued
under this Agreement at the request of the Company. <B></B>Each Letter of Credit
shall be issued by an Issuing Agent, but each Bank (other than the Bank which
issued such Letter of Credit) shall be obligated to reimburse the relevant
Issuing Agent for its Revolver Percentage of the amount of each drawing
thereunder and, accordingly, the undrawn&nbsp;</P>
<P align=center>3</P>
<P align=justify> face amount of each Letter of Credit
shall constitute usage of the Revolving Credit Commitment of each Bank <I>pro
rata</I> in accordance with each Bank's Revolver Percentage.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)<I> Term</I>. Each Letter of Credit issued hereunder shall
expire not later than the earlier of (i)&nbsp;one year from the date issued (or
be cancelable not later than one year from the date of issuance and each
renewal) and (ii)&nbsp;the Revolving Credit Termination Date.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)<I> General Characteristics</I>. Each Letter of Credit
issued hereunder by the Administrative Agent shall be payable in U.S. Dollars or
an Alternative Currency, shall conform to the general requirements of the
Administrative Agent for the issuance of commercial or standby letters of credit
(as appropriate) as to form and substance and shall be a letter of credit which
the Administrative Agent may lawfully issue. Each Letter of Credit issued
hereunder by the Multicurrency Swing Line Bank shall be a standby letter of
credit issued solely for the purpose of supporting credit extended by a foreign
Affiliate of the Multicurrency Swing Line Bank to a Foreign Subsidiary (it being
understood that the face amount of such a Letter of Credit may when issued
exceed the U.S. Dollar Equivalent of the maximum amount of credit it is
supporting to the extent the lender providing such credit so requires) and shall
be payable in U.S. Dollars, shall conform to the general requirements of the
Multicurrency Swing Line Bank for the issuance of standby letters of credit as
to form and substance and shall be a letter of credit which the Multicurrency
Swing Line Bank may lawfully issue.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)<I> Applications</I>. At the time the Company (acting on
behalf of the applicable Borrower) requests an Issuing Agent to issue a Letter
of Credit (or prior to the first issuance of a Letter of Credit, in the case of
a continuing application) for the account of any Borrower, such Borrower
(jointly with any other Borrower if such other Borrower elects in its
discretion) shall execute and deliver to such Issuing Agent an application for
such Letter of Credit in the form customarily prescribed by such Issuing Agent
for a Letter of Credit of the type requested (individually an
<I>"Application"</I> and collectively the <I>"Applications"</I>). Each Issuing
Agent shall provide the Company and each Bank with copies of any new form of
Application that may, from time to time, be adopted by such Issuing Agent.
Notwithstanding anything contained in any Application to the contrary, (i) each
Borrower executing the Application for a Letter of Credit shall be jointly and
severally liable for all L/C Obligations in respect of such Letter of Credit
(nothing herein contained to impair or otherwise affect the joint and several
liability under Section&nbsp;16 hereof of the Guarantors), (ii)&nbsp;the
Borrowers shall pay fees in connection with each Letter of Credit as set forth
in Section&nbsp;6.2 hereof, (iii)&nbsp;before the occurrence of an Event of
Default, neither Issuing Agent will call for the funding by a Borrower of any
amount under a Letter of Credit before being presented with a drawing
thereunder, (iv)&nbsp;upon the occurrence of the Revolving Credit Termination
Date, the full amount then available for drawing under all outstanding Letters
of Credit shall be immediately due and payable in the manner described in
Section 13.4 hereof, and (v) if an Issuing Agent is not timely reimbursed in
accordance with Section&nbsp;1.3(e) hereof (whether out of the proceeds of a
Loan, including a Committed Revolving Loan made pursuant to Section&nbsp;2.2(c)
hereof or otherwise) for the amount of any drawing paid by such Issuing Agent
under a Letter of Credit on the date such drawing is paid, the joint and several
obligation of the applicable Borrowers (determined as set forth in clause (i) of
this sentence) to reimburse such Issuing Agent for the amount of such drawing
shall bear interest (which such Borrowers hereby promise to pay) from and after
the date such drawing is paid at a rate per&nbsp;</P>
<P align=center>4</P>
<P align=justify> annum equal to (x) in the case of a
drawing under a Letter of Credit denominated in U.S. Dollars or a Letter of
Credit denominated in an Alternative Currency as to which the relevant Issuing
Agent has requested reimbursement for such drawing in U.S. Dollars, (i) from the
date such Issuing Agent paid such drawing to and including the date two (2)
Business Days after such payment, the sum of the Domestic Rate Margin plus the
Domestic Rate from time to time in effect and (ii) from the date two (2)
Business Days after the date such Issuing Agent paid such drawing to the date
such Issuing Agent is reimbursed by a Borrower therefor,<B> </B>the sum of 2%
plus the Domestic Rate Margin plus the Domestic Rate from time to time in
effect, and (y) in the case of a drawing under a Letter of Credit denominated in
an Alternative Currency as to which such Issuing Agent has requested
reimbursement for such drawing in such Alternative Currency, (i) from the date
such Issuing Agent paid such drawing to and including the date two (2) Business
Days after such payment, the sum of the Eurocurrency Margin plus the Overnight
Foreign Currency Rate and (ii) from the date two (2) Business Days after the
date such Issuing Agent paid such drawing to the date such Issuing Agent is
reimbursed by a Borrower therefor, the sum of 2% plus the Eurocurrency Margin
plus the Overnight Foreign Currency Rate. If an Issuing Agent issues any Letters
of Credit with expiration dates that are automatically extended, unless such
Issuing Agent gives notice that the expiration date will not so extend beyond
its then scheduled expiration date, such Issuing Agent will give such notice of
non-renewal before the time necessary to prevent such automatic extension if
before such required notice date (i)&nbsp;the expiration date of such Letter of
Credit if so extended would be after the Revolving Credit Termination Date,
(ii)&nbsp;the Revolving Credit Commitments have been terminated or (iii)&nbsp;a
Default or Event of Default exists and the Required Banks have given the
Administrative Agent and relevant Issuing Agent instructions not to so permit
the extension of the expiration date of such Letter of Credit. At least thirty
(30) Business Days before the date on which an Issuing Agent is required to give
notice of the non-renewal of such a Letter of Credit in order to prevent its
automatic extension, the Issuing Agent (other than an Issuing Agent then serving
as Administrative Agent) shall give notice to the Administrative Agent of such
circumstance and the Administrative Agent shall promptly notify each Bank
thereof. Each Issuing Agent agrees to issue amendments to the Letter(s) of
Credit increasing the amount, or extending the expiration date, thereof at the
request of the Company (acting on behalf of itself or pursuant to Section 5.10
hereof, a Borrowing Subsidiary) subject to the conditions of Section&nbsp;11 and
the other terms of this Section&nbsp;1.3. Each Issuing Agent (other than an
Issuing Agent then serving as Administrative Agent) shall promptly notify the
Administrative Agent of each request received by such Issuing Agent for the
issuance of a Letter of Credit or any extension, increase in the amount of or
other modification to a Letter of Credit and promptly furnish the Administrative
Agent with a copy of the completed Application for each Letter of Credit or in
the case of any such modification, a copy of the written request therefor. Each
Issuing Agent (other than an Issuing Agent then serving as Administrative Agent)
shall promptly notify the Administrative Agent of the issuance of each Letter of
Credit and each extension, increase in the amount or other modification of a
Letter of Credit and promptly furnish the Administrative Agent with a copy of
each Letter of Credit or modification thereof, as the case may be. The
Administrative Agent will promptly notify each Bank of each issuance of a Letter
of Credit and each extension or increase in the amount of a Letter of Credit. To
the extent so required by any Bank, each Issuing Agent shall furnish to such
Bank copies of Letters of Credit issued by such Issuing Agent and amendments
thereof. In the case of each such issuance, or increase in the amount of, any
Letter of Credit, the Administrative Agent shall determine and notify the
relevant Issuing Agent whether such amount&nbsp;</P>
<P align=center>5</P>
<P align=justify> would exceed any restriction in this
Section&nbsp;1 on the aggregate face amount of Letters of Credit as set forth in
Section&nbsp;11.2 hereof.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e) <I>The Reimbursement Obligations.</I> Subject to
Section&nbsp;1.3(d) hereof, the joint and several obligations of the applicable
Borrowers (determined as set forth in clause (i) of the fourth sentence of
Section&nbsp;1.3(d) hereof) to reimburse the relevant Issuing Agent for all
drawings under a Letter of Credit (a <I>"Reimbursement Obligation"</I>) shall be
governed by the Application related to such Letter of Credit, except that (i)
payments of drawings shall be made to the Administrative Agent, not the Issuing
Agent, and the Administrative Agent shall promptly thereafter remit such payment
in like funds as received to the relevant Issuing Agent, (ii)&nbsp;the
reimbursement by such Borrowers of drawings made under a Letter of Credit
denominated in U.S. Dollars shall be made in U.S. Dollars and (iii) the
reimbursement by such Borrowers of drawings made under a Letter of Credit
denominated in an Alternative Currency shall be made by payment in U.S. Dollars
of the U.S. Dollar Equivalent, calculated on the date the relevant Issuing Agent
paid such draws, of the amount paid by such Issuing Agent pursuant to such
drawing, or, if such Issuing Agent shall elect by notice to the Company and the
Administrative Agent, by payment in the Alternative Currency which was paid by
such Issuing Agent pursuant to such drawing in an amount equal to such drawing
and (iv) reimbursement in U.S. Dollars of a drawing paid shall be made by no
later than 1:30 p.m. (Chicago time) on the date when each drawing is paid and
reimbursement in an Alternative Currency of a drawing paid shall be made by no
later than 12:00 noon local time at the place of payment or if earlier, such
local time as is necessary for such funds to be received and transferred to the
relevant Issuing Agent for same day value on the day such Reimbursement
Obligation is due; any payment of a Reimbursement Obligation received after such
time shall be deemed to have been received by the relevant Issuing Agent on the
next Business Day. If the applicable Borrowers do not make any such
reimbursement payment on the date due and the Participating Banks fund their
participations therein in the manner set forth in Section&nbsp;1.3(f) below,
then all payments thereafter received by the Administrative Agent in discharge
of any of the relevant Reimbursement Obligations shall be distributed in
accordance with Section 1.3(f) below.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The joint and several obligations of the applicable Borrowers
to the Issuing Agents under this Section&nbsp;1.3 shall be absolute, irrevocable
and unconditional under any and all circumstances whatsoever (except, without
limiting such Borrowers' joint and several obligations under each Application,
to the extent that a Borrower is relieved under applicable law (including as
such, to the extent applicable to a particular Letter of Credit, the then
current Uniform Customs and Practice for Documentary Credits of the
International Chamber of Commerce) from its obligation to reimburse an Issuing
Agent for a drawing under a Letter of Credit because of such Issuing Agent's
failure to determine that documents received under the Letter of Credit comply
on their face with the terms thereof).</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(f) <I>The Participating Interests.</I> Each Bank with a
Revolving Credit Commitment (other than the Issuing Agent for the applicable
Letter of Credit), by its acceptance hereof, severally agrees to purchase from
the relevant Issuing Agent, and such Issuing Agent hereby agrees to sell to each
such Bank (in this Section, a <I>"Participating Bank"</I>), an undivided
percentage participating interest (a <I>"Participating Interest")</I>, to the
extent of its Revolver Percentage, in each Letter of Credit issued by, and each
Reimbursement Obligation owed to, such&nbsp;</P>
<P align=center>6</P>
<P align=justify> Issuing Agent. Upon any failure by the
applicable Borrowers to pay any Reimbursement Obligation at the time required on
the date the related drawing is paid, as set forth in Section&nbsp;1.3(e) above,
or if an Issuing Agent is required at any time to return to a Borrower or to a
trustee, receiver, liquidator, custodian or other Person any portion of any
payment of any Reimbursement Obligation, each Participating Bank shall, not
later than the Business Day it receives a certificate in the form of
Exhibit&nbsp;D hereto from the relevant Issuing Agent (given directly or through
the Administrative Agent) to such effect, if such certificate is received before
1:00 p.m. (Chicago time), or not later than the following Business Day, if such
certificate is received after such time, pay to the Administrative Agent for the
account of the relevant Issuing Agent (i)&nbsp;in the case of a Reimbursement
Obligation payable by the applicable Borrowers in U.S.&nbsp;Dollars (including a
Reimbursement Obligation payable in U.S. Dollars by virtue of the Issuing
Agent's election in Section&nbsp;1.3(e) above to be reimbursed in U.S. Dollars
for a drawing it paid in an Alternative Currency), an amount equal to such
Participating Bank's Revolver Percentage of such unpaid or recaptured
Reimbursement Obligation, such payment to be made in lawful money in the United
States, in immediately available funds at the Administrative Agent's principal
office in Chicago, Illinois, together with interest on such amount accrued from
the date the related payment was made by the relevant Issuing Agent to the date
of such payment by such Participating Bank at a rate per annum equal to
(x)&nbsp;from the date the related payment was made by such Issuing Agent to and
including the date two (2)&nbsp;Business Days after payment by such
Participating Bank is due hereunder, the Federal Funds Rate for each such day
and (y)&nbsp;from the date two (2)&nbsp;Business Days after the date such
payment is due from such Participating Bank to the date such payment is made by
such Participating Bank, the Domestic Rate in effect for each such day and (ii)
in the case of a Reimbursement Obligation payable by the applicable Borrowers in
an Alternative Currency, an amount equal to such Participating Bank's Revolver
Percentage of such unpaid or recaptured Reimbursement Obligation, such payment
to be made in such Alternative Currency in such funds which are then customary
for the settlement of international transactions in such currency, together with
interest on such amount accrued from the date the related payment was made by
the relevant Issuing Agent to the date of such payment by the Participating Bank
at a rate per annum equal to (x) from the date the related payment was made by
such Issuing Agent to and including the date two (2) Business Days after payment
by such Participating Bank is due hereunder, the Overnight Foreign Currency Rate
for each such day and (y) from the date two (2) Business Days after the date
such payment is due from such Participating Bank to the date such payment is
made by such Participating Bank, the sum of 1% plus the Overnight Foreign
Currency Rate for each such day. Each such Participating Bank shall thereafter
be entitled to receive its Revolver Percentage of each payment received in
respect of the relevant Reimbursement Obligation and of interest paid thereon,
with the relevant Issuing Agent retaining its Revolver Percentage as a Bank
hereunder.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The several obligations of the Participating Banks to the
Issuing Agents under this Section&nbsp;1.3 shall be absolute, irrevocable and
unconditional under any and all circumstances whatsoever (except, without
limiting the applicable Borrowers' joint and several obligations under each
Application, to the extent that such Borrowers are relieved under applicable law
(including as such, to the extent applicable to a particular Letter of Credit,
the then current Uniform Customs and Practice for Documentary Credits of the
International Chamber of Commerce) from their obligation to reimburse an Issuing
Agent for a drawing under a Letter of Credit because of such Issuing Agent's
failure to determine that documents received under the&nbsp;</P>
<P align=center>7</P>
<P align=justify> Letter of Credit comply
on their face with the terms thereof) and shall not be subject to any set-off,
counterclaim or defense to payment which any Participating Bank may have or have
had against the Borrowers, an Issuing Agent, the Administrative Agent, any other
Bank or any other Person whatsoever. Without limiting the generality of the
foregoing, such obligations shall not be affected by any Default or Event of
Default or by the amount of any Revolving Credit Commitment of any Bank, and
each payment by a Participating Bank under this Section&nbsp;1.3 shall be made
without any offset, abatement, withholding or reduction whatsoever. The
Administrative Agent and Issuing Agents shall be entitled to offset amounts
received for the account of a Bank under this Agreement against unpaid amounts
due from such Bank to the Administrative Agent hereunder (whether as fundings of
participations or otherwise), but shall not be entitled to offset against
amounts owed to the Administrative Agent or any Issuing Agent by any Bank
arising outside the Loan Documents.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(g) <I>Indemnification.</I> The Participating Banks shall, to
the extent of their respective Revolver Percentages, indemnify each Issuing
Agent (to the extent not reimbursed by the Borrowers and without in any way
impairing or otherwise affecting the Borrowers' joint and several obligations to
do so) against any cost, expense (including reasonable counsel fees and
disbursements), claim, demand, action, loss or liability (except such as result
from the Issuing Agent's gross negligence or willful misconduct) that the
Issuing Agent may suffer or incur in connection with any Letter of Credit. The
obligations of the Participating Banks under this Section&nbsp;1.3(g) and all
other parts of this Section&nbsp;1.3 shall survive termination of this Agreement
and of all other L/C&nbsp;Documents.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(h) <I>Outstanding Amount of Letters of Credit</I>. For all
purposes of this Agreement, Letters of Credit shall be deemed outstanding as of
any time in an amount equal to the aggregate undrawn amount then available
thereunder (determined in accordance with Section&nbsp;5.9 hereof) plus all
unpaid Reimbursement Obligations then outstanding. For such purposes, the
undrawn amount available under a Letter of Credit shall be the maximum amount
which can be drawn thereunder under any circumstances and over any period of
time.</P>
<P align=center>8</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(i) <I>Bond Letters of Credit. </I>The Borrowers and the Banks
acknowledge and agree that (x) the Bond Letters of Credit may provide for
automatic reductions and reinstatements as set forth in the provisions of such
Bond Letters of Credit, and (y) the Bond Letters of Credit may provide for the
beneficiary thereof to reduce from time to time the amounts available to be
drawn thereon. Each Bank acknowledges that, because the interest component of
any Bond Letter of Credit may be reinstated at a time when the applicable
Borrower has not reimbursed the Banks in full for an interest drawing under such
Bond Letter of Credit, the total L/C&nbsp;Obligations may exceed the aggregate
L/C&nbsp;Commitments of the Banks, and each Bank agrees to pay the
Administrative Agent its Revolver Percentage of any drawing under such Bond
Letter of Credit notwithstanding that any such payment may result in the
aggregate amount owing from such Bank hereunder exceeding the L/C Commitment of
such Bank.</P>
<P>Section 2. Interest Rates and Manner of Borrowing Term and Committed
Revolving Loans.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;2.1. Applicable Interest Rates</I>. (a)
<I>Domestic Rate Loans</I>. Each Domestic Rate Loan made by a Bank shall bear
interest (computed on the basis of a 365 or 366 day year, as applicable, and
actual days elapsed) on the unpaid principal amount thereof from the date such
Loan is made until maturity (whether by acceleration or otherwise) at a rate per
annum equal to the sum of the Domestic Rate Margin plus the Domestic Rate from
time to time in effect, payable on the last day of the applicable Interest
Period and at maturity (whether by acceleration or otherwise).</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Domestic Rate"</I> means for any day the greater of:</P>
<DIR>
<DIR>
<P align=justify>(i) the rate of interest announced by the Administrative Agent
from time to time as its prime commercial rate, or equivalent, as in effect on
such day, with any change in the Domestic Rate resulting from a change in said
prime commercial rate to be effective as of the date of the relevant change in
said prime commercial rate; and</P>
<P align=justify>(ii) the sum of (x) the rate determined by the Administrative
Agent to be the prevailing rate per annum (rounded upward, if necessary, to the
next higher 1/100 of 1%) at approximately 10:00 a.m. (Chicago time) (or as soon
thereafter as is practicable) on such day (or, if such day is not a Business
Day, on the immediately preceding Business Day) for the purchase at face value
of overnight Federal funds in an amount comparable to the principal amount owed
to the Administrative Agent for which such rate is being determined, plus (y)
1/2 of 1% (0.50%).</P></DIR></DIR><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Domestic Rate Margin"</I> means (a)&nbsp;with respect to all
Loans other than Term&nbsp;B Loans, 5.00% per annum, and (b)&nbsp;with respect
to Term&nbsp;B Loans, 6.00% per annum. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) <I>Eurocurrency Loans</I>. Each Eurocurrency Loan made by a
Bank shall bear interest during each Interest Period it is outstanding (computed
on the basis of a year of 360 days and actual days elapsed) on the unpaid
principal amount thereof from the date such Loan is made until maturity (whether
by acceleration or otherwise) at a rate per annum equal to the sum of the LIBOR
plus the Eurocurrency Margin applicable to such Loan, payable on the last day of
the&nbsp;</P>
<P align=center>9</P>
<P align=justify> applicable Interest Period and at maturity (whether by acceleration or
otherwise), and, if the applicable Interest Period is longer than three months,
on each day occurring every three months after the date such Loan is made. A
Eurocurrency Loan shall bear additional interest in the events, on the terms and
in the amount set forth in the immediately following paragraph.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition to the interest on a Eurocurrency Loan to a
Borrower described in the immediately preceding paragraph, such Borrower shall
pay to each affected Bank, so long as (a)&nbsp;such Bank shall be required under
regulations of the Board of Governors of the Federal Reserve System to maintain
reserves with respect to liabilities or assets consisting of or including
Eurocurrency Loans and (b) as a result the cost to such Bank (or its applicable
Lending Office) of making or maintaining its Eurodollar Loans is increased,
additional interest on the unpaid principal amount of each affected Loan of such
Bank from the date of such Loan until such principal amount is paid in full, at
an interest rate per annum equal at all times to the remainder obtained by
subtracting (a) the LIBOR for such Interest Period for such Eurocurrency Loan
from (B) the rate obtained by dividing such LIBOR by a percentage equal to one
hundred percent (100%) minus the Eurocurrency Reserve Percentage of such Bank
for such Interest Period, payable on each date on which interest is payable on
such Eurocurrency Loan. Any Bank wishing to require payment of such additional
interest (x) shall so notify the Company and the Administrative Agent, in which
case such additional interest on the Eurodollar Loans of such Bank shall be
payable to the Administrative Agent for the account of such Bank at the place
indicated in such notice with respect to each Interest Period commencing at
least five (5) Business Days after the giving of such notice and (y) shall
furnish to the Company at least five (5) Business Days prior to each date on
which interest is payable on the Eurodollar Loans a certificate setting forth
the amount to which such Bank is then entitled under this Section&nbsp;(which
shall be consistent with such Bank's good faith estimate of the level at which
the related reserves are maintained by it and generally consistent with such
Bank's application of such requirement to other similarly situated borrowers
obligated under similar provisions in their loan agreements to provide such
compensation). Such certificate shall be conclusive and binding absent
demonstrable error.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Eurocurrency Margin"</I> means (a)&nbsp;with respect to all
Loans other than Term&nbsp;B Loans, 7.00% per annum, and (b)&nbsp;with respect
to Term&nbsp;B Loans, 8.00% per annum. </P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;LIBOR&quot;</I> means, for an Interest Period for a Borrowing of
Eurocurrency Loans, (a) for a Committed Borrowing or Multicurrency Swing Line
Borrowing in each case in an Original Dollar Amount of $10,000,000 or more, the
LIBOR Index Rate for such Interest Period, if such rate is available, and (b)
for smaller Committed Borrowings and Multicurrency Swing Line Borrowings, or if
the LIBOR Index Rate cannot be determined, the average rate of interest per
annum (rounded upwards, if necessary, to the nearest one hundred-thousandth of a
percentage point) at which deposits in U.S. Dollars or the relevant Alternative
Currency, as appropriate, in immediately available and freely transferable funds
are offered to the Reference Banks at 11:00 a.m. (London, England time) two (2)
Business Days before the beginning of such Interest Period by major banks in the
interbank eurocurrency market for delivery on the first day of and for a period
equal to such Interest Period in an amount equal or similar to the principal
amount of the Eurocurrency Loan scheduled to be made by (x) in the case of
Committed Eurocurrency Loans,&nbsp;</P>
<P align=center>10</P>
<P align=justify> the relevant Reference Bank as part of such
Borrowing and (y)&nbsp;in the case of Multicurrency Swing Line Loans, the
Multicurrency Swing Line Bank.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;LIBOR Index Rate"</I> means, for any Interest Period, the rate
per annum (rounded upwards, if necessary, to the next higher one
hundred-thousandth of a percentage point) for deposits in U.S. Dollars or the
relevant Alternative Currency, as appropriate, for a period equal to such
Interest Period, which appears on the appropriate Telerate Page, as of 11:00
a.m. (London, England time) on the day two (2) Business Days before the
commencement of such Interest Period.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Reference Banks"</I> means (a) in the case of Committed
Eurocurrency Loans, the Administrative Agent, Comerica Bank and The Bank of New
York and (b) in the case of Multicurrency Swing Line Loans, the Multicurrency
Swing Line Bank alone. </P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;Telerate Page"</I> means the page designated on the Telerate
Service (or such other service as may be nominated by the British Bankers'
Association as the information vendor) for the purpose of displaying British
Bankers' Association Interest Settlement Rates for deposits of U.S. Dollars,
currently displayed on Page 3750, or of the appropriate Alternative
Currency.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c) <I>Alternative Currencies</I>. On the date the Company
(acting on behalf of the applicable Borrower) requests a Borrowing of
Eurocurrency Loans in an Alternative Currency to any Borrower, as provided in
Section 2.2(a) below, the Administrative Agent shall promptly notify each Bank
of the currency in which such Borrowing is requested. If such Alternative
Currency is not available to a Bank in sufficient amount and for a sufficient
term to enable it to make the Loan requested of it as part of such Eurocurrency
Borrowing and such Bank so notifies the Administrative Agent no later than 3:00
p.m. (Chicago time) on the same day it receives notice from the Administrative
Agent of such requested Loan, the Administrative Agent shall promptly so notify
the Company. If the Company or any Borrowing Subsidiary nevertheless desires
such Borrowing, the Company (acting on behalf of the applicable Borrower) must
notify the Administrative Agent by no later than 4:00 p.m. (Chicago time) on
such day. If the Administrative Agent does not receive such notice from the
Company by 4:00 p.m. (Chicago time), the Company shall automatically be deemed
to have revoked on behalf of such Borrower that Borrower's request for the
Borrowing of Eurocurrency Loans and the Administrative Agent will promptly
notify the Banks of such revocation. Such revocation shall not require any
payment under the funding indemnity set forth in Section 5.8 hereof. If the
Company (acting on behalf of the applicable Borrower) gives such notice by 4:00
p.m. (Chicago time), each Bank that did not notify the Administrative Agent by
3:00 p.m. (Chicago time) that the requested Alternative Currency is unavailable
to it to fund the requested Loan shall, subject to Section 11 hereof, make its
Loan in the requested Alternative Currency in accordance with Section 2.2(d)
hereof. Each Bank that did so notify the Administrative Agent by 3:00 p.m.
(Chicago time) that it would not be able to make the Loan requested from it
shall, subject to Section 14 hereof, make a Eurocurrency Loan denominated in
U.S. Dollars in the Original Dollar Amount of, and with the same Interest Period
as, the Eurocurrency Loan such Bank was originally requested to make. Such
Eurocurrency Loan denominated in U.S. Dollars shall be made by the affected Bank
on the same day as the other Banks make their Eurocurrency Loans denominated in
the applicable Alternative Currency as part of the relevant Borrowing of
Eurocurrency Loans, but shall bear&nbsp;</P>
<P align=center>11</P>
<P align=justify> interest with reference to the LIBOR
applicable to U.S. Dollars rather than the relevant Alternative Currency for the
applicable Interest Period and shall be made available in accordance with the
procedures for disbursing U.S. Dollar Loans under Section 2.2(d) hereof. Such an
affected Bank's making of a Eurocurrency Loan in U.S. Dollars rather than in the
Alternative Currency shall not require any payment under the funding indemnity
set forth in Section&nbsp;5.8 hereof. Any Loan made in an Alternative Currency
shall be advanced in such currency, and all payments of principal and interest
thereon shall be made in such Alternative Currency.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d) <I>Rate Quotations.</I> Each Reference Bank agrees to use
its best efforts to furnish quotations to the Administrative Agent as
contemplated by this Section. If any Reference Bank does not furnish a timely
quotation, the Administrative Agent shall determine the relevant interest rate
on the basis of the quotation or quotations furnished by each remaining
Reference Bank or, if no such quotation is provided on a timely basis, the
provisions of Section 14.2 shall apply.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;2.2. Manner of Borrowing Committed Revolving
Loans and Term Loans</I>. (a)&nbsp;<I>Notice to the Administrative Agent</I>. In
order for any Borrower to borrow any Committed Revolving Loans or for the
Company to borrow Term Loans, the Company (acting on behalf of the applicable
Borrower) shall give telephonic or telecopy notice to the Administrative Agent
(which notice shall, except as provided in Section&nbsp;2.1(c) hereof, be
irrevocable once given and, if by telephone, shall, except as provided in
Section&nbsp;2.1(c) hereof, be promptly confirmed in writing) (i) by no later
than 2:00 p.m. (Chicago time) on the date at least four (4) Business Days before
the date of each requested Borrowing of Eurocurrency Loans denominated in an
Alternative Currency, (ii) by no later than 2:00 p.m. (Chicago time) on the date
at least three (3) Business Days before the date of each requested Borrowing of
Eurocurrency Loans denominated in U.S. Dollars, and (iii) by no later than 10:00
a.m. (Chicago time) on the date of each requested Borrowing of Domestic Rate
Loans. Each such notice shall specify the date of the requested Borrowing (which
shall be a Business Day), the amount of the requested Borrowing, the type of
Loans to comprise such Borrowing, if such Borrowing is to be comprised of
Eurocurrency Loans, the Interest Period applicable thereto and the currency in
which such Loan is to be denominated and, if such Borrowing (in the case of a
Committed Revolving Loan only) is to be made by a Borrowing Subsidiary, the
Borrowing Subsidiary for whose account such Loan shall be disbursed. Each
Borrower agrees that the Administrative Agent may rely on any such telephonic or
telecopy notice, and any notice under Section 2, given by any person who
identifies himself or herself as being an Authorized Representative without the
necessity of independent investigation and, in the event any telephonic notice
conflicts with the written confirmation, such notice shall govern if the
Administrative Agent has acted in reliance thereon. Term Loans may only be
borrowed in U.S. Dollars.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) <I>Notice to the Banks</I>. The Administrative Agent shall
give prompt telephonic or telecopy notice to each Bank with a Commitment to lend
the relevant type of Loan of any notice from the Company received pursuant to
Section&nbsp;2.2(a) above. The Administrative Agent shall give notice to the
Company and each Bank with a Commitment to lend the relevant type of Loan by
like means of the interest rate applicable to each Borrowing of Eurocurrency
Loans and, if such Borrowing is denominated in an Alternative Currency, shall
give notice by such means to the Company and each such Bank of the Original
Dollar Amount thereof.</P>
<P align=center>12</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c) <I>Borrower's Failure to Notify</I>. If the Company fails
to give notice of the reborrowing of any outstanding principal amount of a
Borrowing by any Borrower of Committed Revolving Loans or Term Loans denominated
in U.S. Dollars before the last day of its Interest Period within the period
required by Section&nbsp;2.2(a) and has not notified the Administrative Agent by
10:00 a.m. (Chicago time) on such last day of the Interest Period that the
Company or such Borrower intends to repay such Borrowing through funds not
borrowed hereunder, such Borrowing shall automatically be repaid through a
Borrowing by the same Borrower of Committed Domestic Rate Loans, subject to
Section 11.2 hereof. If the Company fails to give notice pursuant to
Section&nbsp;2.2(a) above of the reborrowing of the outstanding principal amount
of a Borrowing by any Borrower of Eurocurrency Loans denominated in an
Alternative Currency before the last day of its Interest Period within the
period required by Section&nbsp;2.2(a) and has not notified the Administrative
Agent within the period required by 10:00 a.m. (Chicago time) on the Business
Day four (4) Business Days prior to the day such Borrowing matures that the
Company or such Borrower intends to repay such Borrowing through funds not
borrowed hereunder, such Borrowing shall automatically be repaid through a
Borrowing by the same Borrower of Committed Eurocurrency Loans in the same
Alternative Currency with an Interest Period of one month, subject to Section
11.2 hereof, including the application of Section 5.2 and of the restrictions
contained in the definition of Interest Period. In the event the Company fails
to give notice pursuant to Section&nbsp;2.2(a) above of a Borrowing equal to the
amount of a Reimbursement Obligation of any Borrower payable in U.S. Dollars and
has not notified the Administrative Agent by 10:00&nbsp;a.m. (Chicago time) on
the day such Reimbursement Obligation becomes due that it intends to repay such
Reimbursement Obligation through funds not borrowed under this Agreement, the
Company shall be deemed to have requested a Borrowing by the Company of Domestic
Rate Loans on such day in the amount of the Reimbursement Obligation then due,
subject to Section&nbsp;11 hereof, which Borrowing shall be applied to pay the
Reimbursement Obligation then due.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d) <I>Disbursement of Committed Revolving Loans and Term
Loans</I>. Not later than 12:00&nbsp;noon (Chicago time) on the date of any
Borrowing denominated in U.S. Dollars of Committed Revolving Loans (other than a
Refunding Borrowing), or of the initial Borrowing of Term Loans on the Effective
Date, subject to Section 11 hereof, each Bank with a Commitment to lend the
relevant type of Loan shall make available its Loan comprising part of such
Borrowing in funds immediately available in Chicago, Illinois at the principal
office of the Administrative Agent or, if such Borrowing of Committed Revolving
Loans is denominated in an Alternative Currency, each Bank with a Commitment to
lend the relevant type of Loan shall, subject to Section&nbsp;2.1(c) and Section
11 hereof, make available its Loan comprising part of such Borrowing at such
office as the Administrative Agent has previously specified in a notice to each
such Bank, in such funds as are then customary for the settlement of
international transactions in such currency and no later than such local time as
is necessary for such funds to be received and transferred to the relevant
Borrower for same day value on the date of the Borrowing. The Administrative
Agent shall make Loans available to the relevant Borrower at such office as the
Administrative Agent has previously agreed to with the Company (acting on behalf
of such Borrower), in each case in the type of funds received by the
Administrative Agent from the Banks. To the extent a Borrowing is a reborrowing
(as described in the last sentence of Section&nbsp;1.1(a), in whole or in part,
of the principal amount of a maturing Borrowing by the same Borrower of
Committed Revolving Loans or Term Loans (a <I>"Refunding Borrowing"</I>), each
Bank&nbsp;</P>
<P align=center>13</P>
<P align=justify> shall record the Loan made by it as a part of such Refunding Borrowing on
its books and records or on a schedule to its Committed Revolving Loan Note or
Term Note, as the case may be, as provided in Section 5.6(e) hereof, and shall
effect the repayment, in whole or in part, as appropriate, of its maturing Loan
through the proceeds of such new Loan.</P>
<P>Section 3. The Domestic Swing Line Loans.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;3.1. The Domestic Swing Line Loans</I>. Subject
to all of the terms and conditions hereof, the Bank then acting as
Administrative Agent (the <I>"Domestic Swing Line Bank"</I>) agrees to make
loans in U.S. Dollars to each and any Borrower (<I>"Domestic Swing Line
Loans"</I>) which shall not in the aggregate (for all the Borrowers taken
together) at any time outstanding exceed the lesser of (i)&nbsp;the Domestic
Swing Line Commitment or (ii)&nbsp;the difference between (x) the Revolving
Credit Commitments in effect at such time <I>minus</I>, until the IBICO GmbH
Pledge Event has occurred, $10,000,000, (or, if less, the Borrowing Base as then
determined and computed in accordance with the terms hereof) and (y)&nbsp;the
aggregate Original Dollar Amount of all Revolving Loans (whether Committed
Revolving Loans or Swing Line Loans) and L/C&nbsp;Obligations then outstanding.
The Domestic Swing Line Commitment shall be available to each and any Borrower
and may be availed of by each Borrower from time to time and Borrowings
thereunder may be repaid and used again during the period ending on the
Revolving Credit Termination Date. Without regard to the face principal amount
of the Domestic Swing Line Note issued by a given Borrower, the actual principal
amount at any time outstanding and owing by such Borrower on account of such
Domestic Swing Line Note on any date during the period ending on the Revolving
Credit Termination Date shall be the sum of all Domestic Swing Line Loans then
or theretofore made thereon through such date less all payments actually
received thereon through such date.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;3.2. Interest on Domestic Swing Line Loans</I>.
Each Domestic Swing Line Loan shall bear interest (computed on the basis of a
year of 360 days and actual days elapsed) for the Interest Period selected
therefor at the Domestic Swing Line Rate for such Interest Period,
<I>provided</I> that if any Domestic Swing Line Loan is not paid when due
(whether by lapse of time, acceleration or otherwise), such Domestic Swing Line
Loan shall bear interest whether before or after judgment, until payment in full
thereof through the end of the Interest Period then applicable thereto at the
rate set forth in Section&nbsp;5.5 hereof. Interest on each Domestic Swing Line
Loan shall be due and payable on the last day of each Interest Period applicable
thereto, and interest after maturity (whether by lapse of time, acceleration or
otherwise) shall be due and payable upon demand. </P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;3.3. Requests for Domestic Swing Line
Loans</I>. The Company (acting on behalf of the applicable Borrower) shall give
the Domestic Swing Line Bank prior notice (which may be written or oral) no
later than 12:00&nbsp;Noon (Chicago time) on the Business Day upon which the
applicable Borrower requests that any Borrowing of a Domestic Swing Line Loan be
made to such Borrower, of the name of such Borrower, the amount and date (which
must be a Business Day) of such Domestic Swing Line Loan and the Interest Period
selected therefor. Within thirty (30)&nbsp;minutes after receiving such notice,
the Domestic Swing Line Bank shall quote an interest rate per annum (computed on
the basis of a year of 360 days and actual days elapsed) determined&nbsp; </P>
<P align=center>14 </P>
<P align=justify> in its
discretion (but in no event to be greater than the sum of the Federal Funds Rate
then in effect plus the Eurocurrency Margin) to the Company at which the
Domestic Swing Line Bank would be willing to make the Borrowing of such Domestic
Swing Line Loan available to the applicable Borrower for such Interest Period
(the rate so quoted for the Borrowing of a given Domestic Swing Line Loan being
herein referred to as the <I>"Domestic Swing Line Rate"</I> for such Loan). Each
Borrower acknowledges and agrees that the interest rate quote is given for
immediate and irrevocable acceptance by the Company (acting on behalf of the
applicable Borrower), and if the Company does not so immediately accept the
Domestic Swing Line Rate for the full amount requested for the Borrowing of such
Domestic Swing Line Loan, the Domestic Swing Line Rate shall be deemed
immediately withdrawn and the Borrowing of such Domestic Swing Line Loan shall
not be made. Subject to all of the terms and conditions hereof, the proceeds of
each Borrowing of a Domestic Swing Line Loan shall be made available to the
applicable Borrower on the date so requested at the offices of the
Administrative Agent in Chicago, Illinois. Anything contained in the foregoing
to the contrary notwithstanding, (i)&nbsp;the obligation of the Domestic Swing
Line Bank to make Domestic Swing Line Loans shall be subject to all of the terms
and conditions of this Agreement and (ii)&nbsp;the Domestic Swing Line Bank
shall not be obligated to make more than one Domestic Swing Line Loan during any
one day. </P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;3.4. Refunding Domestic Swing Line Loans</I>.
In its sole and absolute discretion, the Domestic Swing Line Bank may at any
time, on behalf of the applicable Borrower (each Borrower hereby irrevocably
authorizing the Domestic Swing Line Bank to act on its behalf for such purpose),
request each Bank with a Revolving Credit Commitment to make a Committed
Revolving Domestic Rate Loan to such Borrower (as the Domestic Swing Line Bank
elects in its discretion) in an amount equal to such Bank's Revolver Percentage
of the amount of the Domestic Swing Line Loans outstanding on the date such
notice is given. Whether or not any of the conditions of Section&nbsp;11.2 are
fulfilled on such date, unless a Bank is legally precluded from doing so
(because, for example, of the applicable Borrower's bankruptcy), such Bank shall
make the proceeds of its requested Committed Revolving Domestic Rate Loan
available to the Domestic Swing Line Bank, in immediately available funds, at
the principal office of the Domestic Swing Line Bank in Chicago, Illinois,
before 12:00 noon (Chicago time) on the Business Day following the day such
notice is given. The proceeds of such Committed Revolving Domestic Rate Loans
shall be immediately applied to repay the outstanding Domestic Swing Line Loans.
</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;3.5. Participations</I>. If any Bank with a
Revolving Credit Commitment (other than the Domestic Swing Line Bank) fails for
any reason to make a Committed Revolving Domestic Rate Loan when requested by
the Domestic Swing Line Bank pursuant to Section 3.4 above, or if the Domestic
Swing Line Bank is required at any time to return to a Borrower or to a trustee,
receiver, liquidator, custodian or other Person any portion of any payment of
any Domestic Swing Line Loan, each such Bank (in this Section, a
<I>"Participating Bank"</I>) will, by the time and in the manner such Committed
Revolving Loan was to have been funded to the Domestic Swing Line Bank, purchase
from the Domestic Swing Line Bank an undivided participating interest in the
outstanding Domestic Swing Line Loans in an amount equal to such Participating
Bank's Revolver Percentage of the aggregate principal amount of Domestic Swing
Line Loans that were to have been repaid with such Committed Revolving Loans or
such&nbsp; </P>
<P align=center>15 </P>
<P align=justify> recaptured Domestic Swing Line Loans, as the case may be. Each
Participating Bank's obligation to fund such participation shall bear interest
from the date due until funded at the rate per annum equal to (i)&nbsp;from the
date the related payment was due from such Participating Bank to the date two
(2)&nbsp;Business Days thereafter, the Federal Funds Rate for each such day and
(ii)&nbsp;from the date two (2)&nbsp;Business Days after the date such payment
is due from such Participating Bank to the date such payment is made by such
Participating Bank, the Domestic Rate in effect for each such day. Each
Participating Bank that so purchases a participation in a Domestic Swing Line
Loan shall thereafter be entitled to receive its Revolver Percentage of each
payment of principal received on the relevant Domestic Swing Line Loan and of
interest received thereon accruing from the date such Participating Bank funded
to the Domestic Swing Line Bank its participation in such Loan. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The several obligations of the Participating Banks under this
Section 3.5 shall be absolute, irrevocable and unconditional under any and all
circumstances whatsoever and shall not be subject to any set-off, counterclaim
or defense to payment which any Participating Bank may have or have had against
any Borrower, any other Bank or any other Person whatever. Without limiting the
generality of the foregoing, such obligations shall not be affected by any
Default or Event of Default or by any reduction or termination of any Commitment
of any Bank, and each payment made by a Participating Bank under this Section
3.5 shall be made without any offset, abatement, withholding or reduction
whatsoever. The Domestic Swing Line Bank shall be entitled to offset amounts
received for the account of a Bank under this Agreement against unpaid amounts
due hereunder from such Bank to the Domestic Swing Line Bank or the
Administrative Agent (whether as fundings of participations or otherwise), but
shall not be entitled to offset against amounts owed to the Domestic Swing Line
Bank or the Administrative Agent by any Bank arising outside the Loan
Documents.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section 3.6. Indemnification</I>. The Participating Banks
shall, to the extent of their respective Revolver Percentages, indemnify the
Domestic Swing Line Bank (to the extent not reimbursed by the Borrowers and
without in any way impairing or otherwise affecting the Borrowers' joint and
several obligations to do so) against any cost, expense (including reasonable
counsel fees and disbursements), claim, demand, action, loss or liability
(except such as result from the Domestic Swing Line Bank's gross negligence or
willful misconduct) that the Domestic Swing Line Bank may suffer or incur in
connection with any Domestic Swing Line Loan. The obligations of the
Participating Banks under this Section 3.6 and all other parts of this Section 3
shall survive termination of this Agreement.</P>
<P>Section 4. The Multicurrency Swing Line Loans.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;4.1. The Multicurrency Swing Line Loans</I>.
Subject to all of the terms and conditions hereof, LaSalle Bank National
Association (the <I>"Multicurrency Swing Line Bank"</I>) agrees to make loans
denominated in Alternative Swing Line Currencies to each and any Borrower
(<I>"Multicurrency Swing Line Loans"</I>) in amounts such that the Original
Dollar Amount of (i) all Multicurrency Swing Line Loans and Foreign Credit L/C
Obligations outstanding hereunder shall not exceed the Multicurrency Swing Line
Commitment and (ii) all Revolving Loans (whether Committed Revolving Loans or
Swing Line Loans) and L/C Obligations at any</P>
<P align=center>16</P>
<P align=justify>&nbsp;time outstanding hereunder shall
not exceed the Revolving Credit Commitments then in effect <I>minus</I>, until
the IBICO GmbH Pledge Event has occurred, $10,000,000 (or, if less, the
Borrowing Base as then determined and computed in accordance with the terms
hereof). The Multicurrency Swing Line Commitment shall be available to each and
any Borrower and may be availed of by each Borrower from time to time and
Borrowings thereunder may be repaid and used again during the period ending on
the Revolving Credit Termination Date. Each Multicurrency Swing Line Loan shall
be a Eurocurrency Loan subject to Section 2.1(b) hereof and the other terms and
provisions hereof applicable to Eurocurrency Loans denominated in the same
Alternative Swing Line Currency, other than the provisions of Section&nbsp;1.2
applicable only to Committed Revolving Loans and the provisions of
Section&nbsp;2.2.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;4.2. Requests for Multicurrency Swing Line
Loans.</I> No later than 9:00 a.m. (Chicago time) on the Business Day three (3)
Business Days prior to any Borrowing of a Multicurrency Swing Line Loan, the
Company (acting on behalf of the applicable Borrower) shall give telephonic or
telecopy notice to the Administrative Agent and the Multicurrency Swing Line
Bank (which notice, if by telephone, shall be promptly confirmed by telecopy or
other written notice) of the currency and principal amount of such Multicurrency
Swing Line Loan, the Borrower to whom such Multicurrency Swing Line Loan is to
be made, the Interest Period of such Multicurrency Swing Line Loan and the date
(which must be a Business Day) on which such Multicurrency Swing Line Loan is to
be made. Promptly after receipt of such notice (but in no event later than 11:00
a.m. (Chicago time) on the date the Administrative Agent receives such notice),
the Administrative Agent shall notify the Multicurrency Swing Line Bank whether
such requested Multicurrency Swing Line Loan is permitted under the limitations
on credit available hereunder expressed in the first sentence of Section 4.1
hereof. Subject to all of the terms and conditions hereof, the proceeds of the
Borrowing of such Multicurrency Swing Line Loan shall be made available to the
applicable Borrower on the date so requested at such office of the Multicurrency
Swing Line Bank or Affiliate thereof as the Multicurrency Swing Line Bank has
previously agreed to with the Company (acting on behalf of the applicable
Borrower), in such funds as are then customary for the settlement of
international transactions in such currency and no later than such local time as
is necessary for such funds to be received and transferred to the applicable
Borrower for same day value on the date of such Borrowing. The Multicurrency
Swing Line Bank agrees to use reasonable efforts to make its Multicurrency Swing
Line Loans from lending offices in jurisdictions in which the liability for
taxes of the type described in Section&nbsp;17.1(a) hereof will be eliminated or
minimized, unless to do so would, in the judgment of the Multicurrency Swing
Line Bank, be impractical or disadvantageous in any material respect to the
Multicurrency Swing Line Bank. The parties hereto understand and agree that such
agreement by the Multicurrency Swing Line Bank is an agreement by such Bank only
and not binding on any Affiliates of such Bank. Anything contained in the
foregoing to the contrary notwithstanding, (i) the obligation of the
Multicurrency Swing Line Bank to make Multicurrency Swing Line Loans shall be
subject to all of the terms and conditions of this Agreement and (ii) the
Multicurrency Swing Line Bank shall not be obligated to make more than one
Multicurrency Swing Line Loan during any one day.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;4.3. The Participating Interests.</I> Each Bank
with a Revolving Credit Commitment (other than the Multicurrency Swing Line
Bank), by its acceptance hereof, severally agrees to purchase from the
Multicurrency Swing Line&nbsp;</P>
<P align=center>17</P>
<P align=justify> Bank, and the Multicurrency Swing Line Bank hereby
agrees to sell to each such Bank (in this Section, a <I>"Participating
Bank"</I>), an undivided percentage participating interest, to the extent of its
Revolver Percentage, in each Multicurrency Swing Line Loan. Upon the occurrence
of an Event of Default and (except in the case of any Event of Default described
in Section&nbsp;13.1(f) or 13.1(g) hereof) the acceleration of the maturity of
the Notes pursuant to Section&nbsp;13.2 or 13.3 hereof, or if the Multicurrency
Swing Line Bank is required at any time to return to a Borrower or to a trustee,
receiver, liquidator, custodian or other Person any portion of any payment of
any Multicurrency Swing Line Loan, in each case if any Multicurrency Swing Line
Loans are then outstanding, each Participating Bank shall, to the extent
necessary, not later than the second Business Day after the date on which such
Participating Bank receives written demand from the Multicurrency Swing Line
Bank to such effect, if such demand is received before 12:00 noon (Chicago
time), or not later than the third Business Day after the date on which such
Participating Bank receives such demand, if such demand is received by it after
12:00 noon (Chicago time), pay to the Multicurrency Swing Line Bank an amount
equal to such Participating Bank's Revolver Percentage of such unpaid or
recaptured Multicurrency Swing Line Loan, in the currency of such Loans so that,
after giving effect to such adjustment, the outstanding principal amount of
Revolving Loans of all the Banks with Revolving Credit Commitments, calculated
using quotations of the U.S. Dollar Equivalent of such Revolving Loans received
on the date of acceleration, shall be <I>pro rata </I>based on the Banks'
Revolver Percentages. Such purchase price shall be paid in the respective
currencies of such outstanding Revolving Loans in such funds which are then
customary for the settlement of international transactions in such currency,
together with interest on such amount accrued from the date the related payment
was due from such Participating Bank to the date of such payment by the
Participating Bank at a rate per annum equal to (x) from the date the related
payment was due from such Participating Bank to the date two (2) Business Days
thereafter, the Overnight Foreign Currency Rate for each such day and (y) from
the date two (2) Business Days after the date such payment is due from such
Participating Bank to the date such payment is made by such Participating Bank,
the sum of 1% plus the Overnight Foreign Currency Rate for each such day. Each
such Participating Bank shall thereafter be entitled to receive its Revolver
Percentage of each payment received in respect of the relevant Multicurrency
Swing Line Loan and of interest paid thereon accruing from the date such
Participating Bank funded to the Multicurrency Swing Line Bank its participation
in such Loan.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The several obligations of the Participating Banks to the
Multicurrency Swing Line Bank under this Section&nbsp;4.3 shall be absolute,
irrevocable and unconditional under any and all circumstances whatsoever and
shall not be subject to any set-off, counterclaim or defense to payment which
any Participating Bank may have or have had against the Borrowers, the
Multicurrency Swing Line Bank, any other Bank or any other Person whatsoever.
Without limiting the generality of the foregoing, such obligations shall not be
affected by any Default or Event of Default or by the amount of any Revolving
Credit Commitment of any Bank, and each payment by a Participating Bank under
this Section&nbsp;4.3 shall be made without any offset, abatement, withholding
or reduction whatsoever. The Multicurrency Swing Line Bank shall be entitled to,
or entitled to direct the Administrative Agent to, offset amounts received under
this Agreement for the account of a Participating Bank against unpaid amounts
due hereunder from such Participating Bank to the Multicurrency Swing Line Bank
or the Administrative Agent (whether as fundings of participations or
otherwise), but shall not be entitled to offset against&nbsp;</P>
<P align=center>18</P>
<P align=justify> amounts owed to the
Multicurrency Swing Line Bank or the Administrative Agent by any Participating
Bank arising outside these Loan Documents.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section 4.4. Indemnification</I>. The Participating Banks
shall, to the extent of their respective Revolver Percentages, indemnify the
Multicurrency Swing Line Bank (to the extent not reimbursed by the Borrowers)
against any cost, expense (including reasonable counsel fees and disbursements),
claim, demand, action, loss or liability (except such as result from the
Multicurrency Swing Line Bank's gross negligence or willful misconduct) that the
Multicurrency Swing Line Bank may suffer or incur in connection with any
Multicurrency Swing Line Loan. The obligations of the Participating Banks under
this Section&nbsp;4.4 and all other parts of this Section&nbsp;4 shall survive
termination of this Agreement.</P>
<P>Section 5. General Provisions Applicable to All Loans.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;5.1. Interest Periods</I>. As provided in
(x)&nbsp;Section 2.2 hereof, in the case of Committed Revolving Loans and Term
Loans, (y)&nbsp;Section 3.3 hereof, in the case of Domestic Swing Line Loans,
and (z) Section 4.2 hereof, in the case of Multicurrency Swing Line Loans, at
the time of each request for the Borrowing of Loans hereunder (other than
Domestic Rate Loans) the Company (acting on behalf of the applicable Borrower)
shall select the Interest Period applicable to such Loans from among the
available options. The term <I>"Interest Period"</I> means the period commencing
on the date a Borrowing of Loans is made and ending: (i) in the case of Domestic
Rate Loans, on the last day of the calendar month in which such Loan is made or,
if earlier, on the Revolving Credit Termination Date, the Term&nbsp;A Loan
Termination Date or the Term&nbsp;B Loan Termination Date, as the case may be;
(ii) in the case of Committed Eurocurrency Loans, the date, as the Company
(acting on behalf of the applicable Borrower) may select, one, two, three or six
calendar months thereafter or (unless any Bank notifies the Administrative Agent
that deposits of the type, currency and maturity appropriate to match fund the
Eurocurrency Loan in question are not available to it) the date, as the Company
(acting on behalf of the applicable Borrower) may select, nine or twelve
calendar months thereafter; (iii)&nbsp;in the case of Domestic Swing Line Loans,
the date as the Company (acting on behalf of the applicable Borrower) may
select, 1 - 7 days thereafter; and (iv)&nbsp;in the case of Multicurrency Swing
Line Loans, the date as the Company (acting on behalf of the applicable
Borrower) may select, one, two, three or six calendar months thereafter;
<I>provided, however</I>, that:</P>
<DIR>
<DIR>
<P align=justify>(a) for any Borrowing of Fixed Rate Loans, the Company or
applicable Borrower may not select an Interest Period that extends beyond the
Revolving Credit Termination Date, the Term&nbsp;A Loan Termination Date or the
Term&nbsp;B Loan Termination Date, as the case may be;</P>
<P align=justify>(b) whenever the last day of any Interest Period would
otherwise be a day that is not a Business Day, the last day of such Interest
Period shall be extended to the next succeeding Business Day, provided that, in
the case of an Interest Period for a Borrowing of Eurocurrency Loans, if such
extension would cause the last day of such Interest Period to occur in the
following calendar month, the last day of such Interest Period shall be the
immediately preceding Business Day; and</P>
</DIR></DIR>
<P align=center>19</P>
<DIR>
<DIR>
<P align=justify>(c) for purposes of determining the Interest Period for a
Borrowing of Eurocurrency Loans, a month means a period starting on one day in a
calendar month and ending on the numerically corresponding day in the next
calendar month; <I>provided, however, </I>that if there is no numerically
corresponding day in the month in which such an Interest Period is to end or if
such an Interest Period begins on the last Business Day of a calendar month,
then such Interest Period shall end on the last Business Day of the calendar
month in which such Interest Period is to end.</P></DIR></DIR>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
No more than ten different Interest Periods shall be in effect
with respect to Committed Eurocurrency Loans at any time.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;5.2. Minimum Borrowing Amount</I>. Each
Borrowing of Domestic Rate Loans (other than a Borrowing of Domestic Swing Line
Loans) shall be in an amount not less than $5,000,000 and in integral multiples
of $100,000. Each Borrowing of Domestic Swing Line Loans shall be in a minimum
amount of $100,000. Each Borrowing of Eurocurrency Loans (other than a Borrowing
of Multicurrency Swing Line Loans) shall be (x) if denominated in U.S. Dollars,
in an amount not less than $10,000,000 and in integral multiples of $100,000 and
(y) if denominated in an Alternative Currency, in an amount not less than an
Original Dollar Amount of $5,000,000 and in integral multiples of 100,000 units
of the relevant currency. Each Borrowing of Multicurrency Swing Line Loans shall
be in an amount not less than an Original Dollar Amount of $500,000. There is no
requirement that Borrowings of Swing Line Loans which exceed such minimum
amounts be in any particular multiple.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;5.3. Maturity of Loans</I>.
(a)&nbsp;<I>Payments at end of Interest Period</I>. Each Loan shall mature and
become due and payable by the relevant Borrower on the last day of the Interest
Period applicable thereto.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) <I>Scheduled Payments of Term&nbsp;A Loans</I>. The Company
shall make scheduled principal payments on the Term&nbsp;A Loans in installments
on the last day of each calendar quarter commencing on March&nbsp;31, 2003, each
such principal payment to be in the amount of $3,750,000, with a final payment
comprised of all principal of the Term&nbsp;A Loans and interest thereon not
sooner paid to be due and payable on the Term&nbsp;A Loan Termination Date. Each
such principal payment shall be distributed by the Administrative Agent to the
Banks holding Term&nbsp;A Loans pro rata based upon their Term&nbsp;A Loan
Percentages.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c) <I>Scheduled Payments of Term&nbsp;B Loans</I>. All
principal and interest on the Term&nbsp;B Loans not sooner paid shall become due
and payable, both for principal and interest, on the Term&nbsp;B Loan
Termination Date.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d) <I>Revolving Loans</I>. Each Revolving Loan not sooner paid
shall become due and payable, both for principal and interest, on the Revolving
Credit Termination Date. </P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;5.4. Prepayments. </I>(a)<I> Voluntary
Prepayments on Committed Revolving Loans and Term Loans</I>. Each Borrower shall
have the privilege of prepaying Committed Revolving Loans and Term&nbsp;A Loans
(but not Term&nbsp;B Loans, unless all Term&nbsp;A Loans and Revolving Loans
have first been repaid, all L/C&nbsp;Obligations have been cash collateralized
and the Revolving&nbsp; </P>
<P align=center>20 </P>
<P align=justify> Credit Commitments have been terminated) without premium or
penalty and in whole or in part (but, if in part, then: (i) if such Committed
Borrowing is of Domestic Rate Loans, in an amount not less than $3,000,000, (ii)
if such Committed Borrowing is of Eurocurrency Loans denominated in U.S.
Dollars, in an amount not less than $10,000,000, (iii) if such Committed
Borrowing is denominated in an Alternative Currency, an amount for which the
U.S. Dollar Equivalent is not less than $5,000,000 and (iv) in an amount such
that the minimum amount required for a Borrowing of such type pursuant to
Section&nbsp;5.2 hereof remains outstanding) any Committed Borrowing at any time
upon notice delivered to the Administrative Agent no later than 10:00 a.m.
(Chicago time) on the date (x)&nbsp;in the case of a Committed Borrowing of
Eurocurrency Loans denominated in U.S. Dollars, no later than three (3) Business
Days' prior to the date of such prepayment or (y)&nbsp;in the case of a
Committed Borrowing of Eurocurrency Loans denominated in an Alternative
Currency, no later than four (4) Business Days prior to the date of such
prepayment or (z)&nbsp;in the case of a Committed Borrowing of Domestic Rate
Loans, on the date of such prepayment. Each such prepayment shall be made by the
payment of the principal amount to be prepaid and accrued interest thereon to
the date fixed for prepayment and, in the case of Committed Eurocurrency Loans,
any compensation required by Section&nbsp;5.8 hereof. The Administrative Agent
will promptly advise each Bank entitled to any portion thereof of any such
prepayment notice it receives from any Borrower. Any amount paid or prepaid
before the Revolving Credit Termination Date with respect to Committed Revolving
Loans may, subject to the terms and conditions of this Agreement, be borrowed,
repaid and borrowed again. Amounts paid on the Term&nbsp;Loans prior to the Term
A Loan Termination Date or the Term&nbsp;B Loan Termination Date, as the case
may be, may only be borrowed again as Refunding Borrowings of the Term Loan so
repaid. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) <I>Voluntary Prepayments on Swing Line Loans</I>. No
Borrower may prepay any Swing Line Loan before the last day of its Interest
Period, except as required pursuant to Section&nbsp;5.4(c), Section&nbsp;13 or
Section&nbsp;14.1 hereof, or as permitted in the discretion of the relevant
Swing Line Bank.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c) <I>Mandatory Prepayment re: Credit Over Commitments or
Borrowing Base. </I>If the aggregate Original Dollar Amount of outstanding
Revolving Loans and L/C Obligations shall at any time for any reason exceed the
Revolving Credit Commitments then in effect <I>minus</I>, until the IBICO GmbH
Pledge Event has occurred, $10,000,000, (or, if less, the Borrowing Base as then
determined and computed in accordance with the terms hereof) the Company shall,
within two (2) Business Days, pay the amount of such excess to the
Administrative Agent for the ratable benefit of the Banks holding Revolving
Credit Commitments as a prepayment of Revolving Loans (to be applied to such
Borrowings as the Company shall direct at the time of such payment) and, if
necessary, a prefunding of Letters of Credit. Immediately upon determining the
need to make any such prepayment, the Company shall notify the Administrative
Agent of such required prepayment. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d) <I>Mandatory Prepayment re: Foreign Currency Excess.</I> If
the aggregate U.S. Dollar Equivalent or Original Dollar Amount of outstanding
Revolving Loans and L/C Obligations in each case denominated in a particular
Alternative Currency, less in each case the aggregate amount of cash held by the
Administrative Agent in the cash collateral account described in Section 5.4(j)
below (to the extent in excess of any amount so held as cash collateral pursuant
to&nbsp; </P>
<P align=center>21 </P>
<P align=justify> Section&nbsp;5.4(j) below with respect to any other Alternative Currency),
shall at any time for any reason exceed the Foreign Currency Sub-Limit (if any)
for such Alternative Currency (any such excess being herein referred to as the
<I>"Foreign Currency Excess"</I>), the Company shall, within two (2) Business
Days, pay the amount of such Foreign Currency Excess to the Administrative Agent
for the ratable benefit of the Banks holding Revolving Credit Commitments as a
prepayment of such Revolving Loans (to be applied to such Borrowings as the
Company shall direct at the time of such payment) and, if necessary, a
prefunding of such Letters of Credit. Immediately upon determining the need to
make any such prepayment, the Company shall notify the Administrative Agent of
such required prepayment. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e) <I>Mandatory Prepayment re: Disposition and Event of
Loss</I>. If any Borrower or any Subsidiary shall at any time or from time to
time make or agree to make a Disposition or shall suffer an Event of Loss
resulting in Net Cash Proceeds in excess of $3,000,000 on a cumulative basis in
any fiscal year of the Company, then (x)&nbsp;the Company shall promptly notify
the Administrative Agent of such proposed Disposition or Event of Loss
(including the amount of the estimated Net Cash Proceeds to be received by such
Borrower or such Subsidiary in respect thereof) and (y)&nbsp;promptly upon, and
in no event later than three (3) Business Days (but five (5) Business Days in
the case of any Disposition or Event of Loss with respect to any Foreign
Subsidiary) after, receipt by such Borrower or such Subsidiary of the Net Cash
Proceeds of such Disposition or Event of Loss, the Company shall (i)&nbsp;prepay
the Term&nbsp;A Loans until the Term&nbsp;A Loans are repaid in full, then
(ii)&nbsp;prepay the Revolving Loans, then (iii)&nbsp;if necessary, prefund
Letters of Credit, in each case in an aggregate amount equal to 100% of the
amount of such Net Cash Proceeds; <I>provided, however,</I> that (A)&nbsp;no
such prepayment shall be required with respect to the first $3,000,000 of Net
Cash Proceeds in any calendar year from Dispositions and Events of Loss and
(B)&nbsp;in the case of each Disposition and Event of Loss, if the Company
states in its notice of such event that the Company or the applicable Subsidiary
intends to reinvest, within 180&nbsp;days of the applicable Disposition or
receipt of Net Cash Proceeds from an Event of Loss, the Net Cash Proceeds
thereof in assets similar to the assets which were subject to such Disposition
or Event of Loss, then so long as no Default or Event of Default then exists,
the Company shall not be required to make a mandatory prepayment under this
Section&nbsp;5.4(e) in respect of such Net Cash Proceeds only to the extent such
Net Cash Proceeds are deposited in a deposit account with the Administrative
Agent within three (3) Business Days (but five (5) Business Days in the case of
any Disposition or Event of Loss with respect to any Foreign Subsidiary) after
receipt by Borrower or such Subsidiary (which deposit may not be withdrawn prior
to reinvestment of such Net Cash Proceeds in such similar assets or prepayment
of the Loans as required hereunder) and are actually reinvested in such similar
assets within such 180&nbsp;day period. Promptly after the end of such
180&nbsp;day period, the Company shall notify the Administrative Agent whether
the Company or such Subsidiary has reinvested such Net Cash Proceeds in such
similar assets, and to the extent such Net Cash Proceeds have not been so
reinvested, the Company shall promptly (i)&nbsp;prepay the Term&nbsp;A Loans
until the Term&nbsp;A Loans are repaid in full, then (ii)&nbsp;prepay the
Revolving Loans, then (iii)&nbsp;if necessary, prefund Letters of Credit, in
each case in the amount of such Net Cash Proceeds not so reinvested. If
(1)&nbsp;the Net Cash Proceeds of any Disposition or Event of Loss which are
otherwise required to be repaid to the Banks pursuant to this
Section&nbsp;5.4(e) exceed 25% of the consolidated assets of the Company and its
Subsidiaries at such time (prior to the occurrence of such Disposition or Event
of Loss) determined in accordance with GAAP, or (2)&nbsp;the assets subject to
such Disposition or Event of&nbsp;</P>
<P align=center>22</P>
<P align=justify> Loss were responsible for more than 25% of the
Consolidated EBITDA of the Company and its Subsidiaries during the most recently
completed twelve calendar months immediately preceding the date of such
Disposition or Event of Loss, then notwithstanding the foregoing provisions of
this Section&nbsp;5.4(e) to the contrary, such Net Cash Proceeds shall be used
by the Company to prepay all outstanding Term&nbsp;A Loans, Term&nbsp;B Loans
and Revolving Loans, and to prefund Letters of Credit, ratably according to the
amount of Term&nbsp;A Loans and Term&nbsp;B Loans and Revolving Credit
Commitments then outstanding (or, if the Revolving Credit Commitments have been
terminated, Revolving Loans and Letters of Credit then outstanding),
<I>provided</I> that the provisions of this sentence shall not deprive the
Company of the benefit of the $3,000,000 annual exemption set forth in clause
(A)&nbsp;above or the right to deposit such Net Cash Proceeds with the
Administrative Agent pending reinvestment set forth in clause&nbsp;(B) above.
The Company acknowledges that its performance hereunder shall not limit the
rights and remedies of the Banks for any breach of Section&nbsp;12.12
hereof.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(f) <I>Mandatory Prepayment re: Equity Offering. </I>If after
the date hereof any Borrower or any Subsidiary shall issue new equity securities
(whether common or preferred stock or otherwise), other than (x) common stock
issued in connection with&nbsp;the exercise of employee stock options and
(y)&nbsp;equity securities issued as consideration for Acquisitions permitted by
Section&nbsp;12.14(e) hereof, or dispose of any treasury stock, the Company
shall promptly notify the Administrative Agent of the estimated Net Cash
Proceeds of such issuance or disposition, as the case may be, to be received by
or for the account of such Borrower or such Subsidiary in respect thereof.
Promptly upon, and in no event later than the Business Day after, receipt by
such Borrower or such Subsidiary of Net Cash Proceeds of such issuance or
disposition, the Company shall (i)&nbsp;prepay the Term&nbsp;A Loans until the
Term&nbsp;A Loans are repaid in full, then (ii)&nbsp;prepay the Revolving Loans,
then (iii)&nbsp;if necessary, prefund Letters of Credit, in each case in an
aggregate amount equal to 100% of the amount of such Net Cash Proceeds. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(g) <I>Mandatory Prepayment re: Debt Offering.</I> If after the
date hereof any Borrower or any Subsidiary shall issue new debt securities
(including without limitation additional 1998 Senior Subordinated Debt issued
after the date hereof) by public offering or private placement or in evidence of
loans extended by banks or other institutional investors (other than
(x)&nbsp;Capitalized Lease Obligations, (y) purchase money indebtedness and (z)
credit extended to Foreign Subsidiaries constituting Indebtedness permitted by
Sections&nbsp;12.22(f), 12.22(h) and 12.22(i) hereof), the Company shall
promptly notify the Administrative Agent of the estimated Net Cash Proceeds of
such issuance to be received by or for the account of such Borrower or such
Subsidiary in respect thereof. Promptly upon, and in no event later than the
Business Day after, receipt by such Borrower or such Subsidiary of Net Cash
Proceeds of such issuance, the Company shall (i)&nbsp;prepay the Term&nbsp;A
Loans until the Term&nbsp;A Loans are repaid in full, then (ii)&nbsp;prepay the
Revolving Loans, then (iii)&nbsp;if necessary, prefund Letters of Credit, in
each case in an aggregate amount equal to 100% of the amount of such Net Cash
Proceeds. The Company acknowledges that its performance hereunder shall not
limit the rights and remedies of the Banks for any breach of Section&nbsp;12.22
hereof.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(h) <I>Mandatory Prepayment re: Excess Cash Flow</I>. No later
than the 90th day following the end of each fiscal year of the Company,
commencing with the fiscal year ending December&nbsp;31, 2002, the Company shall
(i)&nbsp;prepay the Term&nbsp;A Loans until the Term&nbsp;A Loans are&nbsp;</P>
<P align=center>23</P>
<P align=justify> repaid in
full, then (ii)&nbsp;prepay the Revolving Loans, then (iii)&nbsp;if necessary,
prefund the Letters of Credit, in each case by an amount equal to 50% of Excess
Cash Flow of the Company and its Subsidiaries for their most recently completed
fiscal year.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(i) <I>Application and Manner of Prepayments. </I>Unless the
Company otherwise directs, prepayments of Loans under Sections&nbsp;5.4(c), (d),
(e), (f), (g) and (h) hereof shall be applied first to Borrowings of Domestic
Rate Loans until payment in full thereof with any balance applied to Borrowings
of Eurocurrency Loans in the order in which their Interest Periods expire. Each
prepayment of Loans under Sections&nbsp;5.4(c), (d), (e), (f), (g) and (h) shall
be made by the payment of the principal amount to be prepaid and accrued
interest thereon to the date of prepayment together with any amounts due the
Banks under Section&nbsp;5.8 hereof. Each prefunding of L/C Obligations shall be
made in accordance with Section&nbsp;13.4 hereof. Mandatory and voluntary
prepayments of the Term&nbsp;A Loans shall reduce the remaining scheduled
amortization payments in inverse order of maturity.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(j) <I>Cash Collateral Option.</I> Notwithstanding the
foregoing, if and so long as no Default or Event of Default has occurred and is
continuing, if and to the extent a mandatory prepayment required under this
Section&nbsp;5.4 would otherwise be applied against any Eurocurrency Loan, the
Company may, in lieu of making such prepayment, remit to the Administrative
Agent an amount in U.S. Dollars which is the then U.S. Dollar Equivalent of such
prepayment, which remittance shall constitute Collateral and be held in a cash
collateral account maintained by the Company with the Administrative Agent, such
account to be analogous to the Account identified and defined in
Section&nbsp;13.4(b) hereof except that, (x)&nbsp;in the case of a Eurocurrency
Loan denominated in an Alternative Currency, the Administrative Agent shall
purchase, on the last day of the Interest Period then applicable to such
Eurocurrency Loan (or if earlier and the Administrative Agent so elects, the
first Business Day immediately following the occurrence of any Default or Event
of Default) the greatest amount of Alternative Currency (but in no event greater
than the amount necessary to make such prepayment) which the Administrative
Agent can, in accordance with its normal banking procedures, purchase (after any
premium and costs of exchange) with the cash so held in such cash collateral
account, for delivery on the date of such purchase and apply the amount of
Alternative Currency so purchased to reduce the principal of such Eurocurrency
Loan, and (y) in the case of a Eurocurrency Loan denominated in U.S. Dollars,
the Administrative Agent shall apply such amount to reduce the principal of such
Eurocurrency Loan on the last day of the Interest Period therefor or, if
earlier, on the first Business Day immediately following the occurrence of any
Default or Event of Default (it being understood that the prepayments described
in clauses (x) and (y) above shall not affect any such Loan's maturity pursuant
to Section&nbsp;5.3 hereof). Notwithstanding anything herein to the contrary, to
the extent the Company has so provided cash collateral to the Administrative
Agent in lieu of making a prepayment required under Section&nbsp;5.4(d) above on
a Eurocurrency Loan denominated in an Alternative Currency, if at any time prior
to the aforesaid conversion of such sum to such Alternative Currency and the
application of such sum in reduction of such Eurocurrency Loan, the
Administrative Agent determines that no Foreign Currency Excess exists (whether
by virtue of exchange rate fluctuation or a payment on the relevant Eurocurrency
Loans), the Administrative Agent shall release such cash from the cash
collateral account upon the Company's request to the extent that after giving
effect to such release, no Foreign Currency Excess, Default or Event of Default
would exist.</P>
<P align=center>24</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;5.5. Default Rate</I>. Notwithstanding anything
to the contrary contained herein, while any Event of Default exists or after
acceleration, the principal of all Loans shall bear interest (after as well as
before entry of judgment thereon to the extent permitted by law and computed on
the basis of a year of 360 days and actual days elapsed or, if based on the
Domestic Rate, on the basis of a year of 365 or 366 days, as applicable, and the
actual number of days elapsed) payable on demand, at a rate per annum equal
to:</P>
<DIR>
<DIR>
<P align=justify>(a) for any Domestic Rate Loan, the sum of two percent (2%)
plus the Domestic Rate Margin plus the Domestic Rate from time to time in
effect; and</P>
<P align=justify>(b) for any Fixed Rate Loan, the sum of two percent (2%) plus
the rate of interest in effect thereon at the time of such default until the end
of the Interest Period applicable thereto and, thereafter, if such Loan is
denominated in U.S. Dollars, at a rate per annum equal to the sum of two percent
(2%) plus the Domestic Rate Margin plus the Domestic Rate from time to time in
effect or, if such Loan is denominated in an Alternative Currency, at a rate per
annum equal to the sum of two percent (2%) plus the Eurocurrency Margin plus the
Overnight Foreign Currency Rate;</P></DIR></DIR><I>
<P align=justify>provided, however, </I>that in the absence of acceleration, any
adjustments pursuant to this Section&nbsp;5.5 shall be made at the election of
the Required Banks with written notice to the Company. While any Event of
Default exists or after acceleration, interest shall be paid on demand of the
Administrative Agent at the request or with the consent of the Required Banks.
</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;5.6. The Notes</I>. (a)&nbsp;All Term&nbsp;A
Loans made to the Company by a Bank shall be evidenced by a promissory note of
the Company in the form of Exhibit A-1 hereto (individually a <I>"Term&nbsp;A
Note"</I> and collectively the <I>"Term&nbsp;A Notes"</I>), each such
Term&nbsp;A Note to be dated the date hereof, payable to the order of the
applicable Bank in the original principal amount of such Bank's Term&nbsp;A Loan
Commitment and otherwise in the form of Exhibit A-1 hereto. All Term&nbsp;B
Loans made to the Company by a Bank shall be evidenced by a promissory note of
the Company in the form of Exhibit&nbsp;A-2 hereto (individually a
<I>"Term&nbsp;B Note"</I> and collectively the <I>"Term&nbsp;B Notes"</I>), each
such Term&nbsp;B Note to be dated the date hereof, payable to the order of the
applicable Bank in the original principal amount of such Bank's Term&nbsp;B Loan
Commitment and otherwise in the form of Exhibit&nbsp;A-2 hereto.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) All Committed Revolving Loans made to a Borrower by a Bank
shall be evidenced by a promissory note of such Borrower in the form of Exhibit
A-3 hereto (individually a <I>"Committed Revolving Loan Note"</I> and
collectively the <I>"Committed Revolving Loan Notes"</I>), each such Committed
Revolving Loan Note to be dated the date hereof (or, if issued by a Borrowing
Subsidiary, the date of issuance thereof), payable to the order of the
applicable Bank in the principal amount of all Committed Revolving Loans to each
Borrower and otherwise in the form of Exhibit A-3 hereto.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c) All Domestic Swing Line Loans made to a Borrower by the
Domestic Swing Line Bank shall be evidenced by a promissory note of such
Borrower in the form of Exhibit&nbsp;B hereto (individually a <I>"Domestic Swing
Line Note"</I> and collectively the <I>"Domestic Swing Line Notes"</I>),&nbsp;</P>
<P align=center>25</P>
<P align=justify> each
such Domestic Swing Line Note to be dated the date hereof (or, if issued by a
Borrowing Subsidiary, the date of issuance thereof), payable to the order of the
Domestic Swing Line Bank in the principal amount of the Domestic Swing Line
Commitment and otherwise in the form of Exhibit&nbsp;B hereto.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d) All Multicurrency Swing Line Loans made to a Borrower by
the Multicurrency Swing Line Bank shall be evidenced by a promissory note of
such Borrower in the form of Exhibit&nbsp;C hereto (individually a
<I>"Multicurrency Swing Line Note" </I>and collectively, the <I>"Multicurrency
Swing Line Notes"</I>), each such Multicurrency Swing Line Note to be dated the
date hereof (or, if issued by a Borrowing Subsidiary, the date of issuance
thereof), payable to the order of the Multicurrency Swing Line Bank in the
principal amount of all Multicurrency Swing Line Loans to such Borrower and
otherwise in the form of Exhibit&nbsp;C hereto.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e) Each Bank shall record on its books and records or on a
schedule to the appropriate Note the amount of each Loan made by it to a
Borrower, all payments of principal and interest and the principal balance from
time to time outstanding thereon, the type of such Loan, for any Fixed Rate
Loan, the Interest Period and interest rate applicable thereto and, for any
Eurocurrency Loan, the currency in which such Loan is denominated; provided that
prior to the transfer of any Note such information relating to any outstanding
Loans made by such Bank shall be recorded on the back of such Note or on a
schedule to such Note or otherwise provided in writing to the transferee. The
record thereof, whether shown on such books and records of a Bank or on a
schedule to any Note, shall be <I>prima</I> <I>facie</I> evidence as to all such
matters; <I>provided, however,</I> that the failure of any Bank to record any of
the foregoing or any error in any such record shall not limit or otherwise
affect the obligation of each Borrower to repay all Loans made to it hereunder
together with accrued interest thereon. At the request of any Bank and upon such
Bank tendering to the relevant Borrower the Note to be replaced, such Borrower
shall furnish a new Note to such Bank to replace any outstanding Note and at
such time the first notation appearing on a schedule on the reverse side of, or
attached to, such new Note shall set forth the aggregate unpaid principal amount
of all Loans, if any, then outstanding thereon.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;5.7. Commitment Terminations</I>. (a)
<I>Voluntary. </I>The Company (acting on behalf of the applicable 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 terminate without
premium or penalty, in whole or in part, the Revolving Credit Commitments, any
partial termination to be in an amount not less than $10,000,000 or any larger
amount that is an integral multiple of $1,000,000, and to reduce ratably each
Bank's Revolving Credit Commitment<I>; provided, however,</I> that (x) the
Revolving Credit Commitments may not be reduced to an amount less than the sum
of the Original Dollar Amount of all Revolving Loans (whether Committed
Revolving Loans or Swing Line Loans), <I>plus</I>, until the IBICO GmbH Pledge
Event has occurred, $10,000,000, and all L/C Obligations then outstanding and
(y) any reduction of the Revolving Credit Commitments to an amount less than a
Swing Line Commitment or L/C Commitment shall automatically reduce such Swing
Line Commitment or L/C Commitment, as the case may be, to such amount as well.
The Administrative Agent shall give prompt notice to each Bank of any such
termination of Commitments. Any termination of Commitments pursuant to this
Section&nbsp;5.7 may not be reinstated. </P>
<P align=center>26 </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) <I>Mandatory.</I> Concurrent with each prepayment of
Revolving Loans required under subsections&nbsp;(e), (f), (g), and (h) of
Section 5.4, the Revolving Credit Commitments shall permanently terminate
ratably in accordance with each Bank's Revolver Percentage by an amount equal to
the aggregate amount required to be prepaid and applied against Revolving Loans.
In addition, the Revolving Credit Commitments of all of the Banks in the
aggregate shall reduce to $60,000,000 on July&nbsp;13, 2003, with a ratable
reduction in the Revolving Credit Commitment of each Bank which has a Revolving
Credit Commitment. Concurrently with each repayment of Term&nbsp;A Loans
required under Section&nbsp;5.3(b), each prepayment of Term&nbsp;A Loans
required under subsections&nbsp;(e), (f), (g) and (h) of Section&nbsp;5.4 and
each prepayment of Term&nbsp;B Loans required under subsection&nbsp;(e) of
Section&nbsp;5.4, the applicable Term Loan Commitments shall permanently
terminate ratably in accordance with each Bank's Term Loan Percentage by an
amount equal to the aggregate amount required to be repaid or prepaid, as the
case may be, and applied against such Term Loans.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;5.8. Funding Indemnity</I>. If any Bank shall
incur any loss, cost or expense (including, without limitation, any loss, cost
or expense incurred by reason of the liquidation or re-employment of deposits or
other funds acquired by such Bank to fund or maintain any Fixed Rate Loan or the
relending or reinvesting of such deposits or amounts paid or prepaid to such
Bank, but in any event excluding loss of profit) as a result of:</P>
<DIR>
<DIR>
<P align=justify>(a) any payment or prepayment of a Fixed Rate Loan on a date
other than the last day of its Interest Period,</P>
<P align=justify>(b) any failure (because of a failure to meet the conditions of
Section 11 or otherwise) by any Borrower to borrow a Fixed Rate Loan on the date
specified in a notice given pursuant to Section 2.2, 3.3 or 4.2 hereof (other
than any such failure due to timely revocation by the Company under
Section&nbsp;2.1(c) hereof of a Borrower's request for a Borrowing of
Eurocurrency Loans denominated in an Alternative Currency),</P>
<P align=justify>(c) any failure by any Borrower to make any payment of
principal on any Fixed Rate Loan when due (whether by acceleration or
otherwise), or</P>
<P align=justify>(d) any acceleration of the maturity of a Fixed Rate Loan as a
result of the occurrence of any Event of Default hereunder,</P></DIR></DIR>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
then, upon the demand of such Bank, the relevant Borrower shall
pay to such Bank such amount as will reimburse such Bank for such loss, cost or
expense. If any Bank makes such a claim for compensation, it shall provide to
the relevant Borrower, with a copy to the Administrative Agent, a certificate
executed by an officer of such Bank setting forth the amount of such loss, cost
or expense in reasonable detail (including an explanation of the basis for and
the computation of such loss, cost or expense) and the amounts shown on such
certificate shall be conclusive in the absence of demonstrable error.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;5.9. Rate and Determinations of Original Dollar
Amount and U.S. Dollar Equivalent</I>. The Administrative Agent shall determine
each interest rate or other rate applicable to Obligations and the Original
Dollar Amount and U.S. Dollar Equivalent of Loans and Letters&nbsp;</P>
<P align=center>27</P>
<P align=justify> of Credit
denominated in Alternative Currencies, and its determination thereof shall be
conclusive and binding except in the case of manifest error or willful
misconduct. The Original Dollar Amount of each Eurocurrency Loan denominated in
an Alternative Currency shall be determined effective as of the first day of the
Interest Period applicable to such Loan. The Original Dollar Amount of a
Reimbursement Obligation shall be calculated on the date of the Administrative
Agent's payment of the drawing giving rise to such Reimbursement Obligation and
subject to the last sentence of this Section, on the last day of each calendar
quarter. The Original Dollar Amount of each Letter of Credit shall be determined
or redetermined, as applicable, on the date of issuance, increase or extension
of such Letter of Credit and subject to the last sentence of this Section, on
the last day of each calendar quarter. At the request of any Bank or the
Company, the Administrative Agent shall redetermine the Original Dollar Amount
of any L/C Obligation at such additional times, and from time to time, as may be
requested for such L/C Obligation.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;5.10. </I>(a)&nbsp;<I>Designation of Borrowing
Subsidiaries</I>. Any Wholly-Owned Subsidiary may elect (with the Company's
consent) to become a Borrower hereunder (each a <I>"Borrowing Subsidiary"</I>)
by delivering to the Administrative Agent an Election to Participate in the form
of Exhibit&nbsp;G hereto executed by the Borrowing Subsidiary and, through an
Authorized Representative, by the Company; <I>provided, however,</I> that if any
such proposed Borrowing Subsidiary is incorporated under the laws of, or
principally located in, any jurisdiction other than an Approved Jurisdiction,
the consent of each Bank shall be required prior to the effectiveness of such
designation. Each Borrowing Subsidiary shall cease to be a Borrower hereunder
upon the delivery to the Administrative Agent of an Election to Terminate in the
form of Exhibit&nbsp;H hereto or such Borrowing Subsidiary ceasing to be a
Wholly-Owned Subsidiary. Upon ceasing to be a Borrower pursuant to the preceding
sentence, a Borrower shall lose the right to request Borrowings hereunder
(whether Refunding Borrowings or otherwise), but such circumstance shall not
affect any obligation of a Borrowing Subsidiary theretofore incurred. The
Administrative Agent shall promptly give notice to the Banks of the receipt of
any Election to Participate or Election to Terminate.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) <I>Appointment of Company as Agent for Borrowing
Subsidiaries</I>. Each Borrowing Subsidiary irrevocably appoints the Company as
its agent hereunder to issue requests for Borrowings and Letters of Credit on
its behalf under Sections 1, 2, 3 and 4 hereof, to terminate the Revolving
Credit Commitments and (subject to clause (iii) of Section&nbsp;17.13 hereof) to
take any other action contemplated by the Loan Documents with respect to credit
extended hereunder to such Borrowing Subsidiary.</P>
<P>Section 6. Fees and Place and Application of
Payments.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;6.1. Commitment Fees</I>. The Company shall pay
to the Administrative Agent for the ratable account of the Banks with Revolving
Credit Commitments, based on such Revolving Credit Commitments, a commitment fee
(the <I>"Commitment Fee"</I>) on the average daily Unused Revolving Credit
Commitments hereunder at the rate (the <I>"Commitment Fee Rate"</I>) of 0.50%
per annum, payable in arrears on the last day of each March, June, September,
and December, commencing on the first of such dates to follow the Effective
Date, and on the Revolving Credit Termination Date unless the Revolving Credit
Commitments are terminated in whole on an&nbsp;</P>
<P align=center>28</P>
<P align=justify> earlier date, in which event the
Commitment Fee for the period to the date of such termination in whole shall be
paid on the date of such termination.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;6.2. Letter of Credit Fees</I>. On the date of
issuance or extension, or increase in the amount, of any Standby Letter of
Credit pursuant to Section&nbsp;1.3 hereof, the Company and each Borrowing
Subsidiary (if any) for whose account such Standby Letter of Credit was issued,
jointly and severally, shall pay to the Administrative Agent for the account of
the relevant Issuing Agent an issuance fee equal to 1/8 of 1% (0.125) per annum
of the face amount of (or of the increase in the face amount of) such Standby
Letter of Credit. Quarterly in arrears, on the last day of each calendar
quarter, commencing on the first of such dates to follow the Effective Date, the
Company and each Borrowing Subsidiary (if any) for whose account the relevant
Letter of Credit was issued, jointly and severally, shall pay to the
Administrative Agent, for the ratable benefit of the Banks with Revolving Credit
Commitments in accordance with their Revolver Percentages, a letter of credit
fee at a rate per annum equal to the Eurocurrency Margin in effect during each
day of such quarter applied to the daily average undrawn face amount of each
Letter of Credit (whether Standby or Commercial) outstanding during such
quarter. In addition, the Company and each Borrowing Subsidiary (if any) for
whose account the relevant Letter of Credit was issued, jointly and severally,
shall pay to the Administrative Agent for the account of the relevant Issuing
Agent (i) such Issuing Agent's standard issuance fee for each Commercial Letter
of Credit issued by such Issuing Agent and (ii)&nbsp;such Issuing Agent's
standard drawing, negotiation, amendment, and other administrative fees for each
Letter of Credit issued by such Issuing Agent. Such standard fees referred to in
the preceding clauses (i) and (ii) may be established by each such Issuing Agent
from time to time.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;6.3.</I> <I>Audit Fees.</I> The Company shall
pay to the Administrative Agent for its own use and benefit charges for audits
of the Collateral performed by the Administrative Agent or its agents or
representatives in such amounts as the Administrative Agent may from time to
time reasonably request; <I>provided, however,</I> that in the absence of any
Default or Event of Default, (i)&nbsp;the Company shall not be required to
reimburse the Administrative Agent for its costs of conducting more than
three&nbsp;(3) audits through the Term&nbsp;B Loan Termination Date, and
(ii)&nbsp;the Company shall not be liable for more than $700 per person per day
for such audits plus reasonable out-of-pocket costs and expenses. </P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;6.4. Administrative Agent Fees</I>. The Company
shall pay to the Administrative Agent the fees agreed to in a letter exchanged
between them.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;6.5. Amendment Fee</I>. The Company shall pay
to the Administrative Agent on the Effective Date for the account of the Banks
an amendment fee in the amount of 0.50% of the sum of the Revolving Credit
Commitments and Term Loan Commitments, such amount to be distributed by the
Administrative Agent to the Banks ratably according to the amount of such
Commitments.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;6.6. Fee Calculations</I>. All fees payable
hereunder shall be computed on the basis of a year of 365 or 366 days, as
applicable, for the actual number of days elapsed.</P>
<P align=center>29</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;6.7. Place of Payments</I>. All payments of
amounts payable under this Agreement to the Banks in U.S. Dollars shall be made
to the Administrative Agent by no later than 12:00 noon (Chicago time) (or in
the case of payments on Swing Line Loans, 2:00 p.m. (Chicago time)) at the
principal office of the Administrative Agent in Chicago, Illinois (or such other
location in the State of Illinois as the Administrative Agent may designate to
the Company or the relevant Borrower) or, if such payment is to be made in an
Alternative Currency, no later than 12:00 noon local time (or in the case of
payments on Multicurrency Swing Line Loans, 2:00 p.m. local time, or in case of
any Loan payable in an Alternative Currency, such earlier time as the
Administrative Agent may notify to the Company as is necessary for such funds to
be received for same day value on the date of such payment) at the place of
payment to such office as the Administrative Agent has previously agreed to with
the Company (acting on behalf of the applicable Borrower) for the benefit of the
Person or Persons entitled thereto. Any payments received after such time shall
be deemed to have been received by the Administrative Agent on the next Business
Day and shall bear interest for such additional day or days, as the case may be,
in accordance with the provisions of this Agreement.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;6.8. Funds and Remittance</I>. All such
payments shall be made (i) if in U.S. Dollars, in immediately available funds at
the place of payment, or (ii) if in an Alternative Currency, in such Alternative
Currency in funds then customary for the settlement of international
transactions in such currency, in each case without setoff or counterclaim. The
Administrative Agent will promptly thereafter (and in any case, for U.S.
Dollars, before the close of business on the day the Administrative Agent
receives such funds, if timely received by the Administrative Agent) cause to be
distributed like funds relating to the payment of principal or interest on
Committed Revolving Loans, Term Loans or Reimbursement Obligations in which the
Banks have purchased participating interests, or Commitment Fees or letter of
credit participation fees, ratably to the Banks and like funds relating to the
payment of any other amount payable to any Person to such Person, in each case
to be applied in accordance with the terms of this Agreement.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;6.9. Application of Payments</I>. Anything
contained herein to the contrary notwithstanding, all payments (other than
payments readvanced through Refunding Borrowings) and collections received in
respect of the Obligations and all proceeds of the Collateral received, in each
instance, by the Administrative Agent or any of the Banks after the occurrence
and during the continuation of an Event of Default shall be remitted to the
Administrative Agent and distributed as follows:</P>
<DIR>
<DIR>
<P align=justify>(a) first, to the payment of any outstanding costs and expenses
incurred by the Administrative Agent, and any security trustee therefor, in
monitoring, verifying, protecting, preserving or enforcing the Liens on the
Collateral, in protecting, preserving or enforcing rights under the Loan
Documents, to the extent such costs and expenses are of a character which the
Company and the other Borrowers have agreed to pay the Administrative Agent
under (i)&nbsp;Section&nbsp;17.15 hereof or (ii)&nbsp;the other Loan Documents
(such funds to be retained by the Administrative Agent for its own account
unless it has previously been reimbursed for such costs and expenses by the
Banks, in which event such amounts shall be remitted to the Banks to reimburse
them for payments theretofore made to the Administrative Agent);</P>
</DIR></DIR>
<P align=center>30</P>
<DIR>
<DIR>
<P align=justify>(b) second, to the payment of any outstanding interest and fees
due under the Notes and the other Loan Documents, pro rata as among the
Administrative Agent and the Banks in accord with the amount of such interest
and fees owing to each;</P>
<P align=justify>(c) third, to the payment of principal on the Notes, unpaid
Reimbursement Obligations, together with amounts to be held by the
Administrative Agent as collateral security for any outstanding
L/C&nbsp;Obligations (until the Administrative Agent is holding an amount of
cash equal to the then outstanding amount of all such L/C&nbsp;Obligations), and
Hedging Liability, the aggregate amount paid to, or held as collateral security
for, the Banks and, in the case of Hedging Liability, their Affiliates, to be
allocated pro rata in accordance with the aggregate unpaid amounts owing to each
holder thereof; </P>
<P align=justify>(d) fourth, to the payment of all other unpaid Obligations due
under the Loan Documents and all other indebtedness, obligations, and
liabilities of the Borrower and its Subsidiaries secured by the Collateral
Documents, to be allocated pro rata in accordance with the aggregate unpaid
amounts owing to each holder thereof; and</P>
<P align=justify>(e) fifth, to the Company or whomever else may be lawfully
entitled thereto.</P>
</DIR></DIR>
<P>Section 7. Security.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;7.1. Collateral</I>. The Obligations and the
Hedging Liability shall at all times be secured by (a)&nbsp;valid, perfected and
enforceable Liens on all right, title and interest of the Company and each
Domestic Subsidiary in all capital stock and other equity interests held by such
Person in each of its Domestic Subsidiaries, whether now owned or hereafter
formed or acquired, and all proceeds thereof, (b)&nbsp;subject to
Section&nbsp;7.4 hereof, valid, perfected and enforceable Liens on all right,
title and interest of the Company and each Domestic Subsidiary in up to 65% of
Voting Equity and 100% of Non-Voting Equity of each First Tier Foreign
Subsidiary, whether now owned or hereafter formed or acquired, and all proceeds
thereof and (c)&nbsp;valid, perfected (subject to the proviso appearing at the
end of this sentence) and enforceable Liens on all right, title and interest of
the Company and each Domestic Subsidiary in all accounts and accounts
receivable, notes and notes receivable, contract rights, instruments, documents,
chattel paper, general intangibles (including, without limitation, patents,
trademarks, tradenames, copyrights, and other intellectual property rights, but
in any event excluding applications for trademarks based on "intent to use" and
intellectual property registered outside of the United States of America),
investment property (subject to the limitations specified in subsection (b)
above), inventory, farm products, machinery, equipment, fixtures, deposit
accounts, and real estate (subject to Section&nbsp;7.2 hereof), whether now
owned or hereafter acquired or arising, and all proceeds thereof; <I>provided,
however, </I>that: (i)&nbsp;the Lien of the Administrative Agent on Property
subject to a Capital Lease or conditional sale agreement or subject to a
purchase money lien, in each instance to the extent permitted hereby, shall be
subject to the rights of the lessor or lender thereunder and (ii)&nbsp;until a
Default or Event of Default has occurred and is continuing and thereafter until
otherwise required by the Administrative Agent or the Required Banks, Liens need
not be granted or perfected on (A)&nbsp;notes and notes receivable or vehicles
which are subject to a certificate of title law <I>provided</I> that the total
value of such property at any one time not so perfected shall not exceed
$3,000,000 in the aggregate, (B)&nbsp; Property of the Company and&nbsp; </P>
<P align=center>31 </P>
<P align=justify> Domestic
Subsidiaries (other than Property which is being pledged pursuant to the Pledge
Agreements) located outside of the United States of America or Property as to
which the grant or perfection of a Lien thereon would not be governed by the
laws of the United States of America or any State thereof, <I>provided</I> that
the aggregate net book value of such Property at any one time not so encumbered
does not exceed $6,000,000 in the aggregate, (C)&nbsp;goods in transit outside
of the United States of America in the ordinary course of business,
(D)&nbsp;interests in leaseholds of real estate (other than the Booneville
Leasehold and the Del&nbsp;Rio Leasehold) <I>provided</I> that the aggregate net
book value of such interests in leaseholds (other than the Buffalo Grove and
Kenosha Leaseholds) at any one time not so encumbered does not exceed
$1,000,000, (E)&nbsp;the equity interest of GBC&nbsp;International, Inc. in
IBICO GmbH if and so long as (1)&nbsp;the Company and its Subsidiaries are
diligently pursuing the consent of the federal and relevant cantonal tax
authorities of Switzerland to effect a pledge of not more than 65% of such
equity interest and the entity reorganization in connection therewith and
(2)&nbsp;the pledging of such equity interest without first obtaining such
consent would reasonably be expected to result in a materially adverse liability
to the Company and its Subsidiaries, (F)&nbsp;the equity interest in any Foreign
Subsidiary which has (together with its subsidiaries) consolidated gross sales
of less than $2,000,000 as of the close of the current and each subsequent
fiscal year of the Company for which audited financial statements are then
available, and (G)&nbsp;the equity interest of the Company in GMP Co., Ltd., a
corporation organized and existing under the laws of the Republic of Korea and
operated as a joint venture between the Company and certain South Korean
investors. The Company acknowledges and agrees that the Liens on the Collateral
shall be granted to the Administrative Agent for the benefit of itself, the
Banks, certain Affiliates of the Banks and the Issuing Agents and shall be valid
and perfected first priority Liens subject, however, to the proviso appearing at
the end of the immediately preceding sentence, in each case pursuant to one or
more Collateral Documents from such Persons, each in form and substance
satisfactory to the Administrative Agent. </P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;7.2.</I> <I>Liens on Real Property</I>. In the
event that the Company or any Domestic Subsidiary owns or hereafter acquires fee
interests in any real property, the Company shall, or shall cause such Domestic
Subsidiary to, execute and deliver to the Administrative Agent (or a security
trustee therefor) a mortgage or deed of trust acceptable in form and substance
to the Administrative Agent for the purpose of granting to the Administrative
Agent for the benefit of itself, the Banks, certain Affiliates of the Banks and
the Issuing Agents a Lien on each such real property to secure the Obligations
and the Hedging Liability, shall pay all taxes, costs and expenses incurred by
the Administrative Agent in recording such mortgage or deed of trust, and shall
supply to the Administrative Agent (to the extent not otherwise waived in
writing by the Administrative Agent) at the Company's cost and expense a survey,
environmental report, hazard insurance policy, and a mortgagee's policy of title
insurance from a title insurer acceptable to the Administrative Agent insuring
the validity of such mortgage or deed of trust and its status as a first Lien
(subject to Liens permitted by this Agreement) on the real property encumbered
thereby and such other instrument, documents, certificates, and opinions
reasonably required by the Administrative Agent in connection therewith. </P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;7.3.</I> <I>Guarantees.</I> The Obligations and
the Hedging Liability shall at all times be guaranteed by each existing or
hereafter acquired Domestic Subsidiary (and First Tier Foreign Subsidiary in the
event that the Administrative Agent does not receive the evidence specified in&nbsp;</P>
<P align=center>32</P>
<P align=justify>
Section&nbsp;7.4 hereof upon the occurrence of the events contemplated therein)
of the Company pursuant hereto and the Subsidiary Guarantee Agreements;
<I>provided, however,</I> that Plastic need not be a Guarantor hereunder or be a
party to any of the Collateral Documents so long as Plastic does not
(i)&nbsp;own assets with an aggregate book value in excess of $500 at any time
and (ii)&nbsp;engage in any active business from and after the date hereof.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;7.4. Foreign Security</I>. If following a
change in the relevant sections of the Code or the regulations, rules, rulings,
notices or other official pronouncements issued or promulgated thereunder,
counsel for the Company reasonably acceptable to the Administrative Agent does
not within thirty (30) Business Days after a request (an <I>"Evidence
Request"</I>) from the Administrative Agent deliver evidence, in form and
substance mutually satisfactory to the Administrative Agent and the Company,
with respect to any First Tier Foreign Subsidiary which has not already had all
of its stock pledged pursuant to the Pledge Agreements, that (i)&nbsp;a pledge
of 66% or more of the total combined voting power of all classes of capital
stock or other equity interest of such First Tier Foreign Subsidiary entitled to
vote, (ii)&nbsp;the entering into by such First Tier Foreign Subsidiary of a
security agreement in substantially the form of the Security Agreement and
(iii)&nbsp;the entering into by such First Tier Foreign Subsidiary of a guaranty
in substantially the form of the Subsidiary Guarantee Agreement, in any such
case would cause the undistributed earnings of such First Tier Foreign
Subsidiary as determined for Federal income tax purposes to be treated as a
deemed dividend to such First Tier Foreign Subsidiary's United States parent for
Federal income tax purposes, then in the case of a failure to deliver the
evidence described in clause&nbsp;(i)&nbsp;above and to the extent not otherwise
waived by the Administrative Agent, that portion of such First Tier Foreign
Subsidiary's outstanding capital stock not theretofore pledged pursuant to the
Pledge Agreement shall be so pledged to the Administrative Agent for the benefit
of itself, the Banks, certain Affiliates of the Banks and the Issuing Agents,
and in the case of a failure to deliver the evidence described in
clause&nbsp;(ii)&nbsp;above and to the extent not otherwise waived by the
Administrative Agent, such First Tier Foreign Subsidiary shall execute and
deliver the Security Agreement (or another security agreement in substantially
similar form, if needed), granting the Administrative Agent for the benefit of
itself, the Banks, certain Affiliates of the Banks and the Issuing Agents a
security interest in all of such First Tier Foreign Subsidiary's personal
property, in each case securing the Obligations and the Hedging Liability, and
in the case of failure to deliver the evidence described in clause
(iii)&nbsp;above and to the extent not otherwise waived by the Administrative
Agent, such First Tier Foreign Subsidiary shall execute and deliver the
Subsidiary Guarantee Agreement (or another guaranty in substantially similar
form, if needed), guaranteeing the Obligations and the Hedging Liability, in
each case (i)&nbsp;promptly, but in any event within thirty (30) Business Days
after each such Evidence Request and (ii)&nbsp;to the extent that entering into
such pledge, Security Agreement or Subsidiary Guarantee Agreement is
(A)&nbsp;permitted by the laws of the applicable foreign jurisdiction, (B) in
the case of GBC Nederland B.V., prior to the entering into such documentation
the consultation procedure with the works council (<I>ondernemingsraad</I>) of
such Subsidiary pursuant to section&nbsp;25 of the Dutch Works Councils Act
(<I>Wet op de ondernemingsraden</I>) has been completed and (C) is not
restricted by any contract or agreement to which such First Tier Foreign
Subsidiary is a party (to the extent such restriction pre-dates this Agreement)
and with all documents delivered pursuant to this Section&nbsp;7.4 to be in form
and substance reasonably satisfactory to the Administrative Agent.</P>
<P align=center>33</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;7.5. Further Assurances and Modifications</I>.
(a) <I>Collateral</I>. The Company agrees that it shall, and shall cause each
Subsidiary to, from time to time at the request of the Administrative Agent or
the Required Banks, execute and deliver such documents and do such acts and
things as the Administrative Agent or the Required Banks may reasonably request
in order to provide for or perfect or protect the Liens on the Collateral
contemplated by Sections&nbsp;7.1, 7.2 and 7.4 hereof. In the event the Company
or any Domestic Subsidiary forms or acquires any other Domestic Subsidiary or
First Tier Foreign Subsidiary after the date hereof, the Company shall within
ten (10) Business Days (or thirty (30) Business Days in the case of a Foreign
Subsidiary) of such formation or acquisition, and shall cause such newly formed
or acquired Subsidiary (and any other applicable Subsidiary in the case of
Pledge Agreements), to execute such Collateral Documents as the Administrative
Agent may then require, and the Company shall also deliver to the Administrative
Agent, or cause such Subsidiary to deliver to the Administrative Agent, at the
Company's cost and expense, such other instruments, documents, certificates and
opinions reasonably required by the Administrative Agent in connection
therewith, in each case to the extent contemplated under Sections&nbsp;7.1, 7.2
and 7.4 hereof had such newly-formed or acquired Subsidiary existed as of the
Effective Date.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) <I>Guarantees</I>. Within ten (10) Business Days (or thirty
(30) Business Days in the case of a Foreign Subsidiary) after establishing or
acquiring any Domestic Subsidiary or First Tier Foreign Subsidiary or any
Subsidiary becoming a Domestic Subsidiary or First Tier Foreign Subsidiary,
unless the Required Banks otherwise agree or the Company elects otherwise as set
forth in the immediately following sentence, the Company shall (i)&nbsp;cause
such Domestic Subsidiary (and First Tier Foreign Subsidiary in the event that
the Administrative Agent does not receive the evidence specified in Section 7.4
hereof upon the occurrence of the events contemplated therein) to execute such
Collateral Documents and deliver such other instruments, documents, certificates
and opinions as the Administrative Agent may reasonably request, (ii)&nbsp;cause
such Domestic Subsidiary (and First Tier Foreign Subsidiary in the event that
the Administrative Agent does not receive the evidence specified in
Section&nbsp;7.4 hereof upon the occurrence of the events contemplated therein)
to execute a Subsidiary Guarantee Agreement and (iii)&nbsp;cause such Domestic
Subsidiary or First Tier Foreign Subsidiary to deliver documentation similar to
that described in Section&nbsp;11.1(a) through (c) relating to the authorization
for, execution and delivery of, and validity of such Subsidiary's obligations
under the Loan Documents to which it is a party in form and substance
satisfactory to the Required Banks. If concurrent with the closing of any sale
or other disposition of a Credit Party (other than the Company) permitted by
Section&nbsp;12.12 hereof, the Company or such Credit Party fully pays all Loans
(if any) made to such Credit Party and the Company pays or assumes in a manner
acceptable to the Banks the liability for all L/C Obligations of such Credit
Party and the Company requests the Administrative Agent (which shall promptly
inform the Banks) that such Credit Party be released from its Obligations
hereunder and under any Subsidiary Guarantee Agreement to which it is a party
and no Default or Event of Default has occurred and is continuing, the Banks
will so release such Credit Party (it being understood and agreed that any
Borrowing Subsidiary shall, as provided in Section&nbsp;5.10(a) hereof, cease to
be a Borrower hereunder upon ceasing to be a Wholly-Owned Subsidiary).</P>
<P align=center>34</P>
<P>Section 8. Definitions; Interpretations.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;8.1. Definitions</I>. The following terms when
used herein have the following meanings:</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Account"</I> is defined in Section&nbsp;13.4(b) hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Acquisition"</I> means any transaction, or any series of
related transactions, consummated after the date of this Agreement, by which the
Company or any of the Subsidiaries (i) acquires any going business, line of
business or all or substantially all of the assets of any firm, corporation or
division thereof, whether through purchase of assets, merger or otherwise, or
(ii)&nbsp;directly or indirectly acquires (in one transaction or as the most
recent transaction in a series of transactions) at least a majority (in number
of votes) of the securities of a corporation or other firm which have ordinary
voting power for the election of the board of directors or similar governing
body of such corporation or firm (other than securities having such power only
by reason of the happening of a contingency).</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Adjustments to EBITDA"</I> means one-time cash and non-cash
charges related to 80/20 initiatives against Consolidated Net Income taken after
September&nbsp;30, 2001 (i)&nbsp;not to exceed $38,600,000 in the aggregate, of
which cash charges are not to exceed $15,000,000 in the aggregate, and
(ii)&nbsp;which shall not exceed, with respect to each business unit listed on
Schedule&nbsp;8.1 hereto, the amount set forth on such Schedule with respect to
such business unit.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Administrative Agent"</I> means Harris Trust and Savings Bank
and any successor pursuant to Section 15.7 hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Affiliate"</I> means, as to any Person, any other Person which
directly or indirectly controls, or is under common control with, or is
controlled by, such Person. As used in this definition, <I>"control"</I>
(including, with their correlative meanings, <I>"controlled by"</I> and
<I>"under common control with"</I>) means possession, directly or indirectly, of
power to direct or cause the direction of management or policies of a Person
(whether through ownership of securities or partnership or other ownership
interests, by contract or otherwise), <I>provided</I> that, in any event for
purposes of this definition: (i)&nbsp;any Person which owns directly or
indirectly 20% or more of the securities having ordinary voting power for the
election of directors or other governing body of a corporation or 20% or more of
the partnership or other ownership interests of any other Person (other than as
a limited partner of such other Person) will be deemed to control such
corporation or other Person; and (ii) each director and executive officer of the
Company or any Subsidiary shall be deemed an Affiliate of the Company and each
Subsidiary.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Agents" </I>means the Administrative Agent, each Issuing Agent
and each Swing Line Bank, in each case in its capacity as such.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Alternative Currency"</I> means, subject to
Section&nbsp;12.28, (i) any of Euros, Belgian Francs, Deutsche Marks, Dutch
Guilders, Japanese Yen, Pounds Sterling, Spanish Pesetas, Australian Dollars,
Canadian Dollars, French Francs, Italian Lira, Swiss Francs, Austrian Shillings,
New Zealand Dollars, Singapore Dollars, Swedish Krona, Irish Punts and
Portuguese Escudos (collectively, the <I>"Designated Alternative
Currencies"</I>) and (ii) any other currency available to&nbsp;</P>
<P align=center>35</P>
<P align=justify> each Bank (each such
other non-designated currency being hereinafter referred to as an <I>"Other
Alternative Currency"</I>), in each case for so long as such Designated
Alternative Currency and Other Alternative Currency, as the case may be, is
freely transferable and freely convertible to U.S. Dollars and the Telerate
Service or Reuters monitor Money Rates Service (or any successor to either)
reports a LIBOR for such currency for interest periods of one, two, three and
six calendar months; <I>provided, however,</I> that availability of each Other
Alternative Currency is subject to the additional conditions that (a) the
Company has made written request on the Administrative Agent to add such
currency as an Other Alternative Currency (the Administrative Agent to promptly
notify the Banks of each such request and the proposed effective date of such
currency's inclusion as an Other Alternative Currency), (b) such currency shall,
subject to the other provisions of this definition, constitute an Other
Alternative Currency effective on the date ten (10) Business Days following such
notice by the Administrative Agent to the Banks of the Company's request for
such new currency, (c) such amendments, modifications or supplements are made to
this Agreement as the Administrative Agent determines are necessary or
appropriate (if any) to give effect to the borrowing and funding of Loans in
such Other Alternative Currency and (d) such additional currency shall no longer
be available if any of the Banks notifies the Administrative Agent at any time
that in the judgment of such Bank, it is impossible, illegal or impracticable
for such Bank to make or participate in Loans in such Other Alternative Currency
or that in the judgment of such Bank, additional costs or expenses will be
incurred by such Bank or additional taxes, charges or other impositions will be
imposed on such Bank (such as withholding taxes of the type described in Section
17.1(a) hereof) as a result of making or participating in Loans in such Other
Alternative Currency disbursed or payable in the United States or any Approved
Jurisdiction.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Alternative Swing Line Currency"</I> means any of Euros,
Deutsche Marks, Dutch Guilders, Pounds Sterling, French Francs, Swiss Francs and
Austrian Shillings, in each case for so long as such currency constitutes an
Alternative Currency; <I>provided, however,</I> that availability of each
Alternative Swing Line Currency is subject to the additional conditions that (a)
the Multicurrency Swing Line Bank has not notified the Administrative Agent that
in the judgment of the Multicurrency Swing Line Bank, it is impossible, illegal
or impracticable for such Bank to make Multicurrency Swing Line Loans in such
Alternative Swing Line Currency or that in the judgment of the Multicurrency
Swing Line Bank, additional costs or expenses will be incurred by such Bank or
additional taxes, charges or other impositions will be imposed on such Bank
(such as withholding taxes of the type described in Section 17.1(a) hereof) as a
result of making Multicurrency Swing Line Loans in such Alternative Swing Line
Currency disbursed or payable in the United States or any Approved Jurisdiction
and (b) such amendments, modifications or supplements are made to this Agreement
as the Administrative Agent and Multicurrency Swing Line Bank determine are
necessary or appropriate (if any) to give effect to the borrowing and funding of
Multicurrency Swing Line Loans in such Alternative Swing Line Currency.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Applications"</I> is defined in Section&nbsp;1.3(d)
hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Approved Jurisdictions"</I> means the Netherlands, the
Republic of Ireland and the United Kingdom and such other jurisdictions as the
Company requests from time to time in writing; <I>provided, however,</I> that
the addition of any Approved Jurisdiction not specifically listed above in this
sentence is subject to the additional conditions that (a) the Company has made
written&nbsp;</P>
<P align=center>36</P>
<P align=justify> request on the Administrative Agent to add such jurisdiction as an
Approved Jurisdiction (the Administrative Agent to promptly notify the Banks of
each such request and the proposed effective date of such jurisdiction's
inclusion as an Approved Jurisdiction), (b) such jurisdiction shall, subject to
the other provisions of this definition, constitute an Approved Jurisdiction
effective on the date twenty (20) Business Days following such notice by the
Administrative Agent to the Banks of the Company's request for such new
jurisdiction, (c) such amendments, modifications or supplements are made to this
Agreement as the Administrative Agent determines are necessary or appropriate
(if any) to give effect to the addition of such Approved Jurisdiction and (d)
such additional jurisdiction shall no longer be an Approved Jurisdiction if any
of the Banks notifies the Administrative Agent at any time that in the judgment
of such Bank, it is impossible, illegal or impracticable for such Bank to make
or participate in Loans disbursed or payable in such Approved Jurisdiction or
that in the judgment of such Bank, additional costs or expenses will be incurred
by such Bank or additional taxes, charges or other impositions will be imposed
on such Bank (such as withholding taxes of the type described in Section 17.1(a)
hereof) as a result of making or participating in Loans disbursed or payable in
such Approved Jurisdiction.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Australian Dollars"</I> means the lawful currency of
Australia.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Austrian Shillings"</I> means the lawful currency of
Austria.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Authorized Representative"</I> means any person shown on the
list of officers provided by the Company pursuant to Section 11.1(g) hereof, or
any other person shown on any updated such list provided by the Company to the
Administrative Agent, or any further or different officer(s) or employee(s) of
the Company so named by any Authorized Representative in a written notice to the
Administrative Agent.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Bank"</I> means each bank or other financial institution or
lending institution signatory hereto, and its successors, and any assignee of a
Bank pursuant to Section 17.12 hereof and includes each Issuing Agent in its
capacity as issuer of Letters of Credit and holder of L/C Obligations after
giving effect to each Participating Bank's interest therein and also includes
each Swing Line Bank in its capacity as the lender on its Swing Line Loans after
giving effect to each Participating Bank's interest therein.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Belgian Francs"</I> means the lawful currency of the Kingdom
of Belgium.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Bond Letters of Credit"</I> means those Letters of Credit
which are issued in support of the obligations of an issuer of Bonds to timely
pay the holders thereof principal, interest, premium (if any) and other amounts
which may be due thereunder.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Bonds" </I>means any series of bonds the obligations of the
Company or any Subsidiary with respect to which constitute Indebtedness
permitted under Section&nbsp;12.22 hereof and in support of which an Issuing
Agent has issued a Letter of Credit hereunder.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Booneville Leasehold"</I> means the real estate of the City of
Booneville, Mississippi in Booneville, Mississippi, commonly known as 300
Quartet Avenue, currently leased by the Company pursuant to a Lease Agreement
dated as of December 1, 1986.</P>
<P align=center>37</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Borrower"</I> is defined in the introduction hereto.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Borrowing"</I> means the total of Loans of a single type made
by one or more Banks to the same Borrower on a single date and for a single
Interest Period. Borrowings of Committed Revolving Loans are made ratably from
each of the Banks with Revolving Credit Commitments according to their Revolving
Credit Commitments, Borrowings of Term&nbsp;A Loans are made ratably from each
of the Banks with Term&nbsp;A Loan Commitments according to their Term&nbsp;A
Loan Commitments, and Borrowings of Term&nbsp;B Loans are made ratably from each
of the Banks with Term&nbsp;B Loan Commitments according to their Term&nbsp;B
Loan Commitments. Borrowings of Domestic Swing Line Loans are made from the
Domestic Swing Line Bank in accordance with the procedures of Section&nbsp;3
hereof. Borrowings of Multicurrency Swing Line Loans are made from the
Multicurrency Swing Line Bank in accordance with the procedures of
Section&nbsp;4 hereof. The term <I>"Committed Borrowing"</I> shall mean a
Borrowing of Committed Revolving Loans or Term Loans advanced pursuant to
Section&nbsp;2.2 hereof and the term <I>"Swing Line Borrowing"&nbsp;</I>shall
mean a Borrowing of Swing Line Loans advanced pursuant to Section&nbsp;3 or
Section&nbsp;4 hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Borrowing Base"</I> means, as of any time it is to be
determined, the sum of :</P>
<DIR>
<DIR>
<P align=justify>(a) 85% of the then outstanding unpaid amount of Eligible
Receivables; plus</P>
<P align=justify>(b) 50% of the value (computed at the lower of market or cost
using the first-in/first-out method of inventory valuation applied in accordance
with GAAP) of Eligible Inventory; </P></DIR></DIR><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
provided</I> that the Borrowing Base shall be computed only as
against and on so much of the Collateral as is included on the Borrowing Base
Certificates furnished from time to time by the Company pursuant to the terms
hereof and, if required by the Administrative Agent or the Required Banks
pursuant to any of the terms hereof or any Collateral Document or in the absence
of timely delivery by the Company of any such Borrowing Base Certificate, as
verified by such other evidence reasonably required to be furnished to the
Administrative Agent or the Banks pursuant hereto or pursuant to any such
Collateral Document, and <I>provided further</I>, that, until the IBICO GmbH
Pledge Event has occurred, the Borrowing Base shall be reduced by
$10,000,000.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Borrowing Base Certificate"</I> means the certificate in the
form of Exhibit&nbsp;L hereto, or in such other form acceptable to the
Administrative Agent, to be delivered to the Administrative Agent and the Banks
pursuant to Section&nbsp;11.1 and 12.6 hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Borrowing Subsidiary"</I> is defined in Section 5.10 hereof
(the parties hereto acknowledging that, as of the date hereof, GBC Nederlands
B.V. is the sole Borrowing Subsidiary).</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Buffalo Grove Leasehold"</I> means the real estate of Chevy
Chase Business Park Limited Partnership in Buffalo Grove, Illinois, commonly
known as 301 Hastings Drive, currently leased by the Company pursuant to a Lease
Agreement dated as of May 8, 1997.</P>
<P align=center>38</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Business Day"</I> means any day other than a Saturday or
Sunday on which banks are not authorized or required to close in Chicago,
Illinois and, if the applicable Business Day relates to the borrowing or payment
of a Eurocurrency Loan denominated in U.S. Dollars, on which banks are dealing
in U.S. Dollar deposits or the relevant Alternative Currency in the interbank
market in London, England and, if the applicable Business Day relates to the
borrowing or payment of a Eurocurrency Loan denominated in an Alternative
Currency (other than Euros), on which banks and foreign exchange markets are
open for business in the city where disbursements of or payments on such Loan
are to be made and, if the applicable Business Day relates to the borrowing or
payment of a Eurocurrency Loan denominated in Euros, on which banks and foreign
exchange markets are open for business in the city where disbursements of or
payments on such Loan are to be made which is a TARGET Day. </P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Canadian Dollars"</I> means the lawful currency of
Canada.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Capital Lease"</I> of a Person means at any date any lease of
property by such Person as lessee which would be capitalized on a balance sheet
of such Person prepared in accordance with GAAP.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Capitalized Lease Obligations"</I> of a Person means the
amount of the obligations of such Person under Capitalized Leases which would be
shown as a liability on a balance sheet of such Person prepared in accordance
with GAAP.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Change of Control Event"</I> means (a) that at any time Lane
Industries, Inc., a Delaware corporation, fails to own and control, either
directly or indirectly through one or more of its subsidiaries, a sufficient
number of shares of the Company's outstanding Voting Stock to elect a majority
of the Board of Directors of the Company or (b)&nbsp;any "Change of Control" (or
words of like import), as defined in any agreement or indenture relating to any
issue of Subordinated Debt, shall occur, the effect of which is to cause the
acceleration of any issue of Subordinated Debt or to enable any holder of
Subordinated Debt to cause the Company or any Subsidiary to repurchase, redeem
or retire if any Subordinated Debt held by it.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Co-Agents"</I> is defined in the introductory paragraph
hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Code"</I> means the Internal Revenue Code of 1986, as
amended.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Collateral"</I> means all properties, rights, interests and
privileges from time to time subject to the Liens granted to the Administrative
Agent, or any security trustee therefor, by the Collateral Documents.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Collateral Documents" </I>means the Mortgages, the Pledge
Agreements, the Security Agreement, Security Agreement Re: Intellectual
Property, and all other mortgages, deeds of trust, security agreements, pledge
agreements, assignments, financing statements and other documents as shall from
time to time secure or relate to the Obligations, the Hedging Liability or any
part thereof.</P>
<P align=center>39</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Commercial Letter of Credit"</I> means a Letter of Credit that
finances a commercial transaction by paying part or all of the purchase price
for goods against delivery of a document of title covering such goods and any
other required documentation.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Commitment Fee"</I> and <I>"Commitment Fee Rate"</I> are
defined in Section&nbsp;6.1 hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Commitments"</I> means the Revolving Credit Commitments, the
Term&nbsp;A Loan Commitments, the Term&nbsp;B Loan Commitments, the L/C
Commitment, the Domestic Swing Line Commitment and the Multicurrency Swing Line
Commitment, and the term <I>"Commitment"</I> means any of the foregoing unless
the context in which such term is used shall otherwise require.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Committed Domestic Rate Loan"</I> means a Domestic Rate Loan
pursuant to the provisions of Section&nbsp;2.2 hereof, and may refer to
Committed Revolving Loans or Term Loans.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Committed Eurocurrency Loan"</I> means a Eurocurrency Loan
made pursuant to the provisions of Section&nbsp;2.2 hereof, and may refer to
Committed Revolving Loans or Term Loans.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Committed L/C Obligations"</I> means L/C Obligations owed to
the Administrative Agent.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Committed Revolving Domestic Rate Loan"</I> means a Committed
Revolving Loan which is a Domestic Rate Loan.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Committed Revolving Loan"</I> is defined in Section 1.2
hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Committed Revolving Loan Notes"</I> is defined in Section
5.6(b) hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Company"</I> means General Binding Corporation, a Delaware
corporation.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Compliance Certificate"</I> means a duly completed certificate
in the form of Exhibit&nbsp;F hereto.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Consolidated Capital Expenditures"</I> means with reference to
any period, the aggregate amount of all expenditures (whether paid in cash or
accrued as a liability, but without duplication) by the Company and its
Subsidiaries during that period which, in accordance with GAAP consistently
applied, are capital expenditures.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Consolidated Current Ratio"</I> means, at any time the same is
to be determined, the ratio of current assets of the Company and its
Subsidiaries to current liabilities of the Company and its Subsidiaries, all as
determined on a consolidated basis in accordance with GAAP consistently applied,
but in any event excluding the Loans from current liabilities for such
purposes.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Consolidated Debt"</I> means all Debt of the Company and its
Subsidiaries determined (without duplication) on a consolidated basis in
accordance with GAAP; <I>provided, however</I>, that it is understood that to
avoid duplication in calculating Consolidated Debt, only Guaranties of third
parties' obligations and of other obligations not otherwise included in the Debt
of the Company or of a consolidated Subsidiary shall be included; <I>provided
further, however</I>, that Consolidated Debt shall also not include any
guarantees to the extent and only to the extent the obligations covered by such
guarantees are secured by Permitted Liquid Investments segregated&nbsp;</P>
<P align=center>40</P>
<P align=justify> and held
expressly for that purpose by or on behalf of the party to whom such obligations
are owed.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;</FONT>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT
face="Times,Times New Roman"><I>"Consolidated EBITDA&quot; </I>means, for any period, determined on
a consolidated basis for the Company and its Subsidiaries in accordance with
GAAP, Consolidated Net Income for such period, <I>plus</I> (x)&nbsp; all amounts
deducted in determining Consolidated Net Income for such period in respect of
(i)&nbsp;federal, state and local income taxes for such period,
(ii)&nbsp;Consolidated Interest Expense for such period, and (iii)&nbsp;the
amount of all depreciation and amortization expense for such period,
<I>minus</I> (y)&nbsp;net earnings for such period of any unconsolidated Person
in which the Company or any Subsidiary has an ownership interest, unless such
earnings are received in cash pursuant to a dividend distribution (or equivalent
distribution in the event of one made by a Person other than a corporation)
received by the Company, any Borrower or any Guarantor, <I>plus</I> (z)&nbsp;net
losses for such period of any unconsolidated Person in which the Company or any
Subsidiary has an ownership interest to the extent such losses are deducted in
determining earnings for such period in an amount in excess of any increase
during such period in Investments of the Company and its Subsidiaries in such
Person; <I>provided, however</I>, that notwithstanding anything in this
definition to the contrary: (a)&nbsp;cash and non-cash gains and non-cash losses
on sales or other dispositions of assets of the Company and its Subsidiaries
outside the ordinary course of business, and other extraordinary gains realized
by the Company and its Subsidiaries outside the ordinary course of business,
shall be excluded in determining Consolidated EBITDA, (b)&nbsp;non-cash losses
resulting from impairment charges arising from SFAS No.&nbsp;142 (Goodwill and
Other Intangible Assets) may, to the extent deducted in determining Consolidated
Net Income, be added back for the purpose of determining Consolidated EBITDA,
and (c)&nbsp;if an Acquisition or a Divestiture occurs at any time during such
period, Consolidated EBITDA shall be calculated on a proforma basis to include
(in the case of an Acquisition) or exclude (in the case of a Divestiture)
earnings reasonably allocable to the acquired (or divested) Person or business,
as the case may be, for the entire period as if such Acquisition or Divestiture
had taken place on the first day of such period, all as reasonably calculated by
the Company based on historical operations (including, but not limited to,
operations conducted during such quarter) and reasonably calculated adjustments
due to anticipated operational changes. Notwithstanding anything contained
herein to the contrary, (A)&nbsp;to the extent deducted in computing
Consolidated EBITDA for any period after September&nbsp;30, 2001, the
Adjustments to EBITDA shall be added back to each such computation of
Consolidated EBITDA for the relevant period, and (B)&nbsp;notwithstanding the
actual Consolidated EBITDA which would be calculated pursuant to this
definition, Consolidated EBITDA for the following fiscal quarters shall be
deemed to equal to the following amounts:</P></FONT>
<TABLE cellSpacing=0 cellPadding=7 width=638 border=0>

  <TR>
    <TD vAlign=top width="50%"><FONT face="Times,Times New Roman">
      <P align=center>Fiscal Quarter Ending</FONT></P></TD>
    <TD vAlign=top width="50%"><FONT face="Times,Times New Roman">
      <P align=center>Consolidated EBITDA</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="50%"><FONT face="Times,Times New Roman">
      <P align=center>March 31, 2001</FONT></P></TD>
    <TD vAlign=top width="50%"><FONT face="Times,Times New Roman">
      <P align=center>$21,044,000</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="50%"><FONT face="Times,Times New Roman">
      <P align=center>June 30, 2001</FONT></P></TD>
    <TD vAlign=top width="50%"><FONT face="Times,Times New Roman">
      <P align=center>$19,452,000</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="50%"><FONT face="Times,Times New Roman">
      <P align=center>September 30, 2001</FONT></P></TD>
    <TD vAlign=top width="50%"><FONT face="Times,Times New Roman">
      <P align=center>$19,421,000</FONT></P></TD></TR></TABLE><I><FONT
face="Times,Times New Roman">
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Consolidated Interest Expense"</FONT>
</I> <FONT
face="Times,Times New Roman">
 means, for any period, an
amount equal to interest expense during such period on Consolidated Debt, as
determined on a consolidated basis in accordance with GAAP; <I>provided,
however,</I> that if an Acquisition occurs at any time during such&nbsp;</FONT>
</P>
<P align=center>41</P>
<P align=justify> <FONT
face="Times,Times New Roman">
 period,
Consolidated Interest Expense shall be calculated on a proforma basis to include
interest expense reasonably allocable to the acquired Person or business, as the
case may be, for the entire period as if such Acquisition had taken place on the
first day of such period and the Consolidated Debt incurred to finance or
otherwise related to the relevant Acquisition had been incurred on the first day
of such period, all as reasonably calculated by the Company.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Consolidated Net Income"</I> means, for any period, the net
income (or net loss) of the Company and its Subsidiaries for such period
determined on a consolidated basis in accordance with GAAP.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Consolidated Shareholder's Equity"</I> means, as of any date
the same is to be determined, the total shareholder's equity (including capital
stock, additional paid-in-capital and retained earnings after deducting treasury
stock, but excluding minority interests in Subsidiaries) which would appear on a
balance sheet of the Company and its Subsidiaries determined on a consolidated
basis in accordance with GAAP.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Consolidated Total Assets"</I> shall mean as of the date of
any determination thereof, the total amount of all assets of the Company and its
Subsidiaries as determined on a consolidated basis in accordance with
GAAP.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Contractual Obligation"</I> means, as to any Person, any
provision of any security issued by such Person or of any agreement, instrument
or undertaking to which such Person is a party or by which it or any of its
Property is bound.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Controlled Group"</I> means all members of a controlled group
of corporations and all trades or businesses (whether or not incorporated) under
common control which, together with the Company, are treated as a single
employer under Section 414 of the Internal Revenue Code.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Credit Documents"</I> means this Agreement (including each
Election to Participate and Election to Terminate issued hereunder), the L/C
Documents and the Notes.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Credit Event"</I> means the advancing of any Loan, or the
issuance of, or extension of the expiration date or increase in the amount of,
any Letter of Credit.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Credit Party"</I> means the Company, each Borrowing Subsidiary
and each Guarantor.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Debt"</I> means, for any Person, any Indebtedness of such
Person of the type described in clauses&nbsp;(i) through (vi) of the definition
of such term.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Default"</I> means any event or condition the occurrence of
which would, with the passage of time or the giving of notice, or both,
constitute an Event of Default.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Del Rio Leasehold"</I> means the real estate of Ueli
Wolfensberger, as Trustee of the U.W. Trust #1 dated as of August 1, 1990, in
Del Rio, Texas, commonly known as the Northwest corner of the intersection of
Leonel Martinez Boulevard and Avenue T, currently leased by the Company pursuant
to an Industrial Building Lease Agreement dated as of August 1, 1990.</P>
<P align=center>42</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Deutsche Marks"</I> means the lawful currency of the Federal
Republic of Germany.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Disposition"</I> means the sale, lease, conveyance or other
disposition of Property, other than dispositions permitted by provisos (a)(1),
(a)(2), (a)(3), (a)(4) and (a)(5) to Section&nbsp;12.12.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Divestiture"</I> means any Disposition or series of related
Dispositions by which the Company or any of the Subsidiaries sells or otherwise
disposes of (i) any going business, line of business or all or substantially all
of the assets of any Subsidiary or (ii) any Subsidiary.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Domestic Borrower"</I> means each Borrower which is a Domestic
Subsidiary.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Domestic Rate"</I> is defined in Section 2.1(a) hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Domestic Rate Loan"</I> means a Loan bearing interest prior to
maturity at the rate specified in Section 2.1(a) hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Domestic Rate Margin"</I> is defined in Section&nbsp;2.1(a)
hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Domestic Subsidiary"</I> means each Subsidiary of the Company
which is organized under the laws of the United States of America or any State
thereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Domestic Swing Line Bank"</I> is defined in Section&nbsp;3.1
hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Domestic Swing Line Commitment"</I> means $35,000,000, as such
amount may be reduced pursuant to Section&nbsp;5.7 hereof. </P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Domestic Swing Line Loans"</I> is defined in Section&nbsp;3.1
hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Domestic Swing Line Note"</I> is defined in
Section&nbsp;5.6(c) hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Domestic Swing Line Rate"</I> is defined in Section&nbsp;3.3
hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Dutch Guilder"</I> means the lawful currency of the
Netherlands.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Effective Date"</I> means the date on which the Administrative
Agent has received signed counterpart signature pages of this Agreement from
each of the signatories (or, in the case of a Bank, confirmation that such Bank
has executed such a counterpart and dispatched it for delivery to the
Administrative Agent) and the conditions in Section 11.1 hereof have been
fulfilled.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Election to Participate"</I> means a letter to the
Administrative Agent in the form of Exhibit&nbsp;G hereto executed by a
Borrowing Subsidiary and an Authorized Representative and acknowledged by the
Administrative Agent.</P>
<P align=center>43</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Election to Terminate"</I> means a letter in the form of
Exhibit&nbsp;H hereto executed by a Borrowing Subsidiary and an Authorized
Representative and acknowledged by the Administrative Agent.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Eligible Inventory"</I> means any inventory of the Company or
any Subsidiary in which the Administrative Agent has a perfected first priority
security interest and which complies with each of the following requirements,
<I>provided</I> that inventory with a book value of up to U.S. $4,000,000 that
otherwise qualifies as Eligible Inventory may be deemed Eligible Inventory by
the Company even if the Administrative Agent does not have a perfected security
interest thereon because such Inventory is owned by a Canadian-domiciled
Subsidiary and located in Canada (outside Quebec):</P>
<DIR>
<DIR>
<P align=justify>(a) it consists of inventory which is readily usable or
marketable by the Company or such Subsidiary in the ordinary course of its
business;</P>
<P align=justify>(b) it substantially conforms to such Person's advertised or
represented specifications, applicable government standards and regulations and
other quality standards and has not been determined by the Administrative Agent
to be unacceptable due to age, type, variety, quality, quantity or location;
</P>
<P align=justify>(c) it is not covered by a warehouse receipt or similar
document;</P>
<P align=justify>(d) all warranties of the Company or such Subsidiary in the
Loan Documents are true and correct with respect thereto;</P>
<P align=justify>(e) it has been identified to the Administrative Agent in the
manner required by the Administrative Agent pursuant to the Security Agreement;
and</P>
<P align=justify>(f) it is located at a location disclosed to and approved by
the Administrative Agent, and if requested by the Administrative Agent, any
Person (other than the Company or such Subsidiary) owning or controlling such
location shall have waived all right, title and interest in and to such
inventory in a manner satisfactory to the Administrative
Agent.</P></DIR></DIR><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Eligible Receivables"</I> means any Receivable of the Company
or any Subsidiary in which the Administrative Agent has a first priority
perfected security interest and which complies with each of the following
requirements, <I>provided</I> that Receivables with a book value of up to U.S.
$6,500,000 that otherwise qualify as Eligible Receivables may be deemed Eligible
Receivables by the Company even if the Administrative Agent does not have a
perfected security interest therein because such Receivables are owned by a
Canadian-domiciled Subsidiary (other than one domiciled in Quebec);</P>
<DIR>
<DIR>
<P align=justify>(a) it arises out of a bona fide sale of inventory or provision
of services which has been delivered to, or is in the process of being delivered
to, the account debtor on said Receivable in the ordinary course of business on
ordinary trade terms;</P>
<P align=justify>(b) all warranties of the Company or such Subsidiary in the
Loan Documents are true and correct with respect thereto;</P>
<P align=justify>(c) it has been identified to the Administrative Agent in the
manner required by the Administrative Agent pursuant to the Security
Agreement;</P>
</DIR></DIR>
<P align=center>44</P>
<DIR>
<DIR>
<P align=justify>(d) it is evidenced by an invoice to the account debtor
thereunder dated not more than 5<B> </B>Business Days subsequent to the shipment
date of the relevant inventory or provision of services, which invoice requires
payment within 120 days of the date of the invoice;</P>
<P align=justify>(e) it has not remained unpaid in whole or in part more than
60&nbsp;days from and after its due date; </P>
<P align=justify>(f) it is net of any credit or allowance given by the Company
or such Subsidiary to such account debtor or (without duplication) any reserve
established by the Company or such Subsidiary with respect to such account
debtor, including, without limitation, the accrued distribution, allowance and
rebate reserve;</P>
<P align=justify>(g) it is not owing by an account debtor who (i)&nbsp;has
become insolvent, (ii)&nbsp;is the subject of any bankruptcy, arrangement,
reorganization proceedings or other proceedings for relief of debtors,
(iii)&nbsp;has admitted its inability to pay its debt generally or has stopped
paying its debts generally or (iv)&nbsp;is an Affiliate of the Company or such
Subsidiary;</P>
<P align=justify>(h) the account debtor is principally located in the
continental United States or Canada (excluding Quebec) unless such Receivable is
secured by an irrevocable letter of credit issued by a commercial bank located
in the United States and which is on terms and conditions acceptable to the
Administrative Agent;</P>
<P align=justify>(i) it is not owing by the United States of America or any
department, agency or instrumentality thereof (including, without limitation,
the Commodity Credit Corporation) unless the Administrative Agent shall have
received evidence satisfactory to the Administrative Agent of compliance with
the Assignment of Claims Act;</P>
<P align=justify>(j) it is not owing by an account debtor who shall have failed
to pay 25% or more of all Receivables owed by such account debtor within the
periods set forth in subsection&nbsp;(e) above;</P>
<P align=justify>(k) it is not subject to any counterclaim or defense asserted
by the account debtor thereunder, nor is it subject to any offset or contra
account payable to the account debtor (in any case, unless the amount of such
Receivable is net of such counterclaim, defense, offset or contra account
established to the satisfaction of the Administrative Agent), <I>provided</I>
that any Receivable subject to such a counterclaim, defense, offset or contra
account shall cease to be an Eligible Receivable under this clause&nbsp;(k)
solely to the extent of such counterclaim, offset, defense or contra account;
and</P>
<P align=justify>(l) it is not evidenced by an instrument or chattel paper
unless the same has been endorsed and delivered to the Administrative
Agent.</P></DIR></DIR><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"EMU"</I> means economic and monetary union as contemplated in
the Treaty on European Union.</P>
<P align=center>45</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"EMU Commencement"</I> means January&nbsp;1, 1999 (the date of
commencement of the third stage of EMU).</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"EMU Legislation"</I> means legislative measures of the
European Council for the introduction of, changeover to or operation of the
Euro, being in part the implementation of the third stage of EMU. </P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Environmental and Health Laws"</I> means any and all federal,
state, local and foreign statutes, laws, regulations, ordinances, judgments,
permits and other governmental rules or restrictions relating to human health,
safety (including without limitation occupational safety and health standards),
or the environment or to emissions, discharges or releases of pollutants,
contaminants, hazardous or toxic substances, wastes or any other controlled or
regulated substance into the environment, including without limitation ambient
air, surface water, ground water or land, or otherwise relating to the
manufacture, processing, distribution, use, treatment, storage, disposal,
transport or handling of pollutants, contaminants, hazardous or toxic
substances, wastes or any other controlled or regulated substance or the
clean-up or other remediation thereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;ERISA&quot;</I> means the Employee Retirement Income Security Act
of 1974, as amended from time to time.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Euro"</I> means the single currency of Euro Members of the
European Union.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Eurocurrency Loan"</I> means a Loan bearing interest prior to
maturity at the rate specified in Section&nbsp;2.1(b) hereof. By way of
illustration and not of limitation, a Multicurrency Swing Line Loan is a
Eurocurrency Loan.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Eurocurrency Loans"</I> shall mean both Committed Eurocurrency
Loans and Multicurrency Swing Line Loans.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Eurocurrency Margin"</I> is defined in Section&nbsp;2.1(b)
hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Eurocurrency Reserve Percentage"</I> means, for any Borrowing
of Eurocurrency Loans, the daily average for the applicable Interest Period of
the maximum rate, expressed as a decimal, at which reserves (including, without
limitation, any supplemental, marginal and emergency reserves) are imposed
during such Interest Period by the Board of Governors of the Federal Reserve
System (or any successor) on <I>"eurocurrency liabilities"</I>, as defined in
such Board's Regulation&nbsp;D (or in respect of any other category of
liabilities that includes deposits by reference to which the interest rate on
Eurocurrency Loans is determined or any category of extensions of credit or
other assets that include loans by non-United States offices of any Bank to
United States residents), subject to any amendments of such reserve requirement
by such Board or its successor, taking into account any transitional adjustments
thereto. For purposes of this definition, the Eurocurrency Loans shall be deemed
to be <I>"eurocurrency liabilities"</I> as defined in Regulation&nbsp;D without
benefit or credit for any prorations, exemptions or offsets under
Regulation&nbsp;D.</P>
<P align=center>46</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Euro Member"</I> means each state described as a
"participating member state" in any EMU Legislation. </P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Euro Unit"</I> means the currency unit of Euros. </P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Event of Default"</I> means any of the events or circumstances
specified in Section 13.1 hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Event of Loss"</I> means, with respect to any Property, any of
the following: (a)&nbsp;any loss, destruction or damage of such Property or (b)
any condemnation, seizure, or taking, by exercise of the power of eminent domain
or otherwise, of such Property, or confiscation of such Property or the
requisition of the use of such Property by any government or governmental
authority.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Excess Cash Flow"</I> means, with respect to any period, the
amount (if any) by which (a)&nbsp;Consolidated EBITDA (including Adjustments to
EBITDA) during such period exceeds (b)&nbsp;the sum of (i) Consolidated Interest
Expense for such period, plus (ii)&nbsp;all income taxes, whether federal,
state, local or foreign, paid in cash by the Company and its Subsidiaries on a
consolidated basis during such period, plus (iii)&nbsp;the aggregate amount of
payments required to be made by the Company and its Subsidiaries in respect of
all principal on all Indebtedness during such period (but excluding any required
payments on the Revolving Loans), plus (iv)&nbsp;Consolidated Capital
Expenditures, plus (v)&nbsp;that portion of Adjustments to EBITDA for such
period reflecting cash charges against Consolidated Net Income.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Existing Letters of Credit"</I> means the Letters of Credit
set forth on Schedule&nbsp;1 hereto.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Federal Funds Rate"</I> means the fluctuating interest rate
per annum described in part&nbsp;(x) of clause&nbsp;(ii) of the definition of
Domestic Rate in Section&nbsp;2.1(a) hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"First Tier Foreign Subsidiary"</I> shall mean, at any date of
determination, each Foreign Subsidiary with respect to which any one or more of
the Company and its Domestic Subsidiaries owns directly more than 50%, in the
aggregate, of the Voting Equity of such Foreign Subsidiary.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Fixed Rate Loans"</I> means Eurocurrency Loans and Swing Line
Loans.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Foreign Borrower"</I>&nbsp;means each Borrower which is a
Foreign Subsidiary.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Foreign Credit L/C Obligations"</I> means L/C Obligations owed
to the Multicurrency Swing Line Bank.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Foreign Currency Sub-Limit"</I> means $15,000,000 with respect
to New Zealand Dollars and $15,000,000 with respect to Portuguese Escudos or any
amount set by the Required Banks for any Other Alternative Currency in a written
notice from the Administrative Agent to the Company.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Foreign Investment List"</I> means a duly completed
certificate from the Company in the form of Exhibit&nbsp;K hereto describing in
reasonable detail (by item and amount) the Foreign Investments as of a specified
date.</P>
<P align=center>47</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Foreign Investments"</I> means Investments of the type
permitted solely by reason of Section 12.14(h)(ii), Section 12.14(k) or Section
12.14(l) hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Foreign Subsidiary"</I> shall mean each Subsidiary that is not
a Domestic Subsidiary.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"French Francs"</I> means the lawful currency of the Republic
of France.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;GAAP&quot;</I> means generally accepted accounting principles, from
time to time in effect in the United States of America, consistently
applied.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Guarantor"</I> means the Company and each Subsidiary of the
Company that is a signatory hereto (unless solely identified herein as a
Borrowing Subsidiary) or that executes and delivers to the Administrative Agent
a Subsidiary Guarantee Agreement along with the accompanying closing documents
required by Section 12.1 hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Guaranty"</I> of a Person means any agreement by which such
Person assumes, guarantees, endorses, contingently agrees to purchase or provide
funds for the payment of, or otherwise becomes liable upon, the obligation of
any other Person, or agrees to maintain the net worth or working capital or
other financial condition of any other Person or otherwise assures any creditor
of such other Person against loss, including, without limitation, any comfort
letter, operating agreement, take-or-pay contract or letter of credit.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Hazardous Material"</I> means and includes (a)&nbsp;any
asbestos, PCBs or dioxins or insulation or other material composed of or
containing asbestos, PCBs or dioxins and (b)&nbsp;any petroleum product or
derivative or other hydrocarbon, and any hazardous or toxic waste, substance or
material defined as such in (or for purposes of) CERCLA, any so-called
<I>"Superfund"</I> or <I>"Superlien"</I> law, or any other applicable federal,
state, local or other statute, law, ordinance, code, rule, regulation, order or
decree regulating or pertaining to any such waste, substance or material, as in
effect now or at any time hereafter.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Hedging Arrangements"</I> means interest rate swaps, interest
rate caps, interest rate collars, foreign currency contracts, currency swap
contracts or other interest rate, commodity or currency hedging
arrangements.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Hedging Liability" </I>means the liabilities of one or more of
the Borrowers or one or more of the Subsidiaries to the Banks or any of them or
to any of their Affiliates arising in connection with any one or more Hedging
Arrangements from time to time entered into by any Borrower or any Subsidiary
with any Bank or any Affiliate of any Bank. Unless and until the amount of the
Hedging Liability is fixed and determined, the Hedging Liability shall be deemed
to be the market value of the hedge from the date of computation to the date the
hedge expires.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;IBICO GmbH Pledge Event"</I> is defined in Section&nbsp;1.2
hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Indebtedness"</I> means and includes, for any Person, all
obligations of such Person, without duplication, which are required by GAAP to
be shown as liabilities on its balance sheet, and in any event shall include all
of the following whether or not so shown as liabilities: (i)&nbsp;obligations of
such Person for borrowed money, (ii)&nbsp;obligations of such Person
representing&nbsp;</P>
<P align=center>48</P>
<P align=justify>the deferred purchase price of property or services other than
accounts payable arising in the ordinary course of business on terms customary
in the trade, (iii)&nbsp;obligations of such Person evidenced by notes,
acceptances, or other instruments of such Person, (iv)&nbsp;obligations, whether
or not assumed, secured by Liens or payable out of the proceeds or production
from Property now or hereafter owned or acquired by such Person,
(v)&nbsp;Capitalized Lease Obligations of such Person and (vi)&nbsp;obligations
for which such Person is obligated pursuant to a Guaranty.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Interest Coverage Ratio"</I> means, for any period of four
consecutive fiscal quarters of the Company ending with the most recently
completed such fiscal quarter, the ratio of Consolidated EBITDA for such period
to Consolidated Interest Expense for such period.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;Interest Period"</I> is defined in Section 5.1 hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Investment"</I> is defined in Section 12.14 hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Issuing Agent"</I> is defined in Section&nbsp;1.3(a)
hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Italian Lira"</I> means the lawful currency of Italy.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Japanese Yen"</I> means the lawful currency of Japan.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Kenosha Leaseholds"</I> means the real properties of Pleasant
Prairie Investors I, L.L.C. and Pleasant Prairie Investors II, L.L.C. in
Kenosha, Wisconsin, commonly known as 10303 80<SUP>th</SUP> Street and 10150
80<SUP>th</SUP> Street, respectively, currently leased by the Company pursuant
to Leases dated October 15, 1996 and April 16, 1997, respectively.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"L/C Commitment"</I> means $25,000,000, as such amount may be
reduced pursuant to Section&nbsp;5.7 hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"L/C Documents"</I> means the Letters of Credit, any draft or
other document presented in connection with a drawing thereunder, the
Applications and this Agreement.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"L/C Obligations"</I> means the aggregate undrawn face amounts
of all outstanding Letters of Credit and all unpaid Reimbursement
Obligations.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Lending Office"</I> is defined in Section&nbsp;14.4.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Letter of Credit"</I> is defined in Section&nbsp;1.3(a)
hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Leverage Ratio"</I> means, as of any time the same is to be
determined, the ratio of (a)&nbsp;Consolidated Debt at such time to
(b)&nbsp;Consolidated EBITDA for the four then most recently completed fiscal
quarters of the Company. </P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;LIBOR&quot;</I> is defined in Section&nbsp;2.1(b) hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Lien"</I> of a Person means any security interest, mortgage,
pledge, lien, claim, charge, encumbrance, title retention agreement, lessor's
interest under a capitalized lease or analogous instrument, in, of or on any
property of such Person.</P>
<P align=center>49</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Loan"</I> means and includes Term&nbsp;A Loans, Term&nbsp;B
Loans, Committed Revolving Loans, Domestic Swing Line Loans and Multicurrency
Swing Line Loans, and each of them singly, and the term <I>"type"</I> of Loan
refers to its status as a Term&nbsp;A Loan, Term&nbsp;B Loan, Committed
Revolving Loan, Domestic Swing Line Loan or Multicurrency Swing Line Loan or, if
a Term&nbsp;A Loan, a Term&nbsp;B Loan or a Committed Revolving Loan, to its
status as a Domestic Rate Loan or Eurocurrency Loan.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Loan Documents"</I> means the Credit Documents, the Subsidiary
Guarantee Agreements, the Notes and the Collateral Documents.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Maryland IRB Letter of Credit"</I> means that certain standby
letter of credit dated April&nbsp;17, 1996 issued by Harris Trust and Savings
Bank to Comerica Bank, as Trustee under an Indenture of Trust dated
April&nbsp;1, 1996 between the Maryland Industrial Development Financing
Authority and such Trustee in the original amount of $9,609,316.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT
face="Times,Times New Roman"><I>"Material Adverse Effect"</I> means (i)&nbsp;any materially
adverse change in the business, operations, financial condition or Properties of
the Company and its Subsidiaries, taken as a whole, or (ii)&nbsp;any fact or
circumstance which singly or in the aggregate causes a materially adverse change
described in clause (i) with respect to the Company and its Subsidiaries, taken
as a whole, or (iii)&nbsp;the inability of any Borrower or Guarantor to perform
in any material respect its obligations under the Loan Documents or the
inability of any of the Banks or any Agent to enforce in any material respect
their rights under the Loan Documents or (iv)&nbsp;a material adverse effect
upon (A)&nbsp;the legality, validity, binding effect or enforceability against
the Company or any Subsidiary of any Loan Document or the rights and remedies of
the Administrative Agent and the Banks thereunder or (B)&nbsp;the perfection or
priority of any Lien granted under any Collateral Document on Collateral
aggregating in excess of $2,500,000 (excluding Property on which
Section&nbsp;7.1 hereof does not require any such Lien be granted or
perfected).</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Material Plan"</I> is defined in Section&nbsp;13.1(i)
hereof.&nbsp;&nbsp;&nbsp;&nbsp;</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Minority Foreign Investment"</I> means any corporation or
other Person, organized under the laws of a jurisdiction outside of the United
States of America or any State thereof, of which no more than fifty percent
(50%) of the outstanding stock or comparable equity interests having ordinary
voting power for the election of the Board of Directors of such corporation or
similar governing body in the case of a non-corporation (irrespective of whether
or not, at the time, stock or other equity interests of any other class or
classes of such corporation or other entity shall have or might have voting
power by reason of the happening of any contingency) is at the time directly or
indirectly owned by the Company or by one or more of its Domestic
Subsidiaries.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Mortgages"</I> means those certain mortgages dated as of
November&nbsp;12, 1999 between the Company or a Domestic Subsidiary and the
Administrative Agent relating to certain real properties located in the
locations specified on Schedule 11.1(j) hereto, as the same may be amended,
modified, supplemented or restated from time to time, including without
limitation pursuant to supplements dated on or about the date hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;Multicurrency Swing Line Bank"</I> is defined in
Section&nbsp;4.1 hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;Multicurrency Swing Line Commitment"</I> means $35,000,000, as
such amount may be reduced pursuant to Section&nbsp;5.7 hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;Multicurrency Swing Line Loan"</I> is defined in Section 4.1
hereof.</P>
<P align=center>50</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;Multicurrency Swing Line Note"</I> is defined in
Section&nbsp;5.6(d) hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;Multiemployer Plan"</I> means a Plan maintained pursuant to a
collective bargaining agreement or any other arrangement to which the Company or
any member of the Controlled Group is a party to which more than one employer is
obligated to make contributions.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Net Cash Proceeds"</I> means, as applicable, (a)&nbsp;with
respect to any Disposition by a Person, cash and cash equivalent proceeds
received by or for such Person's account, net of (i)&nbsp;reasonable direct
costs relating to such Disposition and reasonable cash reserves in accordance
with GAAP for liabilities of the seller associated with such Disposition,
(ii)&nbsp;taxes paid or payable by such Person as a direct result of such
Disposition, and (iii)&nbsp;amounts required to be applied to repay principal
of, premium, if any, and interest on any Indebtedness secured by a Lien on the
Property (or portion thereof) sold or otherwise disposed of (other than the
Obligations) which is required to be and is repaid in connection with such
Disposition (or in the case of any Foreign Subsidiary's Property, any
Indebtedness representing credit extended in reliance on such Property and the
terms of which require prepayment out of the proceeds of such Disposition with
respect to such Property); (b)&nbsp;with respect to any Event of Loss of a
Person, cash and cash equivalent proceeds received by or for such Person's
account (whether as a result of payments made under any applicable casualty
insurance policy therefor or in connection with condemnation proceedings or
otherwise), net of (i)&nbsp;reasonable direct costs incurred in connection with
such Event of Loss and reasonable reserves associated therewith in accordance
with GAAP and (ii)&nbsp;amounts required to be applied to repay principal of,
premium, if any, and interest on any Indebtedness secured by a Lien on the
Property (or portion thereof) so damaged or taken (other than the Obligations)
which is required to be and is repaid in connection with such Event of Loss (or
in the case of any Foreign Subsidiary's Property, any Indebtedness representing
credit extended in reliance on such Property and the terms of which require
prepayment out of the proceeds of such Event of Loss with respect to such
Property); and (c)&nbsp;with respect to any offering of equity securities of a
Person or the issuance of any Indebtedness by a Person, cash and cash equivalent
proceeds received by or for such Person's account, net of reasonable
underwriting, discounts and commissions and other reasonable costs directly
incurred and payable as a result thereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"1998 Senior Subordinated Debt"</I> means the up to
$225,000,000 in aggregate principal amount of 9-3/8% Senior Subordinated Notes
Due 2008 issued or to be issued by the Company under that certain Indenture
dated as of May&nbsp;21, 1998 between the Company, certain of its Subsidiaries
party thereto and First Union National Bank, as Trustee, as the same has been or
may from time to time be amended, modified, restated or supplemented.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Non-Voting Equity"</I> shall mean issued and outstanding
shares of each class of capital stock or other ownership interest not entitled
to vote (within the meaning of Tres. Reg., Section&nbsp;1.956-2(c)(2).</P>
<P align=center>51</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; "Note"</I> means and includes the Committed Revolving Loan
Notes, the Term&nbsp;A Notes, the Term&nbsp;B Notes, the Domestic Swing Line
Note and Multicurrency Swing Line Note and each individually, unless the context
in which such term is used shall otherwise require.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Obligations"</I> means all unpaid principal of and accrued and
unpaid interest on the Loans and L/C Obligations, all accrued and unpaid
commitment fees and letter of credit fees and all other payment obligations of
any one or more of the Borrowers to any one or more of the Agents or Banks in
each case arising under any one or more of the Loan Documents.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Original Dollar Amount"</I> means the amount of any Obligation
denominated in U.S. Dollars and, in relation to any Loan denominated in an
Alternative Currency, the U.S. Dollar Equivalent of such Loan on the first day
of its Interest Period and, in relation to any L/C Obligation denominated in an
Alternative Currency, the U.S. Dollar Equivalent of such L/C Obligation on the
day such amount is being computed.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Overnight Foreign Currency Rate"</I> shall mean for any amount
payable in a currency other than U.S. Dollars, the rate of interest per annum as
determined by the Administrative Agent (or in the case of any amount payable on
a Multicurrency Swing Line Loan, the Multicurrency Swing Line Bank) (rounded
upwards, if necessary, to the nearest whole multiple of one-hundredth of one
percent (1/100 of 1%)) at which overnight or weekend deposits of the appropriate
currency (or, if such amount due remains unpaid more than three Business Days,
then for such other period of time not longer than six months as the
Administrative Agent (or if applicable as aforesaid, the Multicurrency Swing
Line Bank) may elect in its absolute discretion) for delivery in immediately
available and freely transferable funds would be offered by the Administrative
Agent (or if applicable as aforesaid, the Multicurrency Swing Line Bank) to
major banks in the interbank market upon request of such major banks for the
applicable period as determined above and in an amount comparable to the unpaid
principal amount of the related Loan or Reimbursement Obligation (or, if the
Administrative Agent (or if applicable as aforesaid, the Multicurrency Swing
Line Bank) is not placing deposits in such currency in the interbank market,
then the cost of funds to the Administrative Agent or Multicurrency Swing Line
Bank, as applicable, in such currency for such period).</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Participating Bank"</I> is defined in Sections&nbsp;1.3(f),
3.5 and 4.3 hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;PBGC&quot;</I> means the Pension Benefit Guaranty Corporation and
its successors and assigns.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Percentage" </I>means, for any Bank, the percentage which
(x)&nbsp;the sum of (i)&nbsp;its Revolving Credit Commitment (or, if the
Revolving Credit Commitments have been terminated, its outstanding Committed
Revolving Loans and participation interests as a Participating Bank in Swing
Line Loans and L/C Obligations), (ii)&nbsp;its outstanding Term&nbsp;A Loans and
(iii)&nbsp;its outstanding Term&nbsp;B Loans, represents of (y)&nbsp;the sum of
(i)&nbsp;the Revolving Credit Commitments of all Banks (or, if the Revolving
Credit Commitments have been terminated, the aggregate outstanding Revolving
Credit Loans, Swing Line Loans and L/C Obligations), (ii)&nbsp;the outstanding
Term&nbsp;A Loans of all Banks and (iii)&nbsp;the outstanding Term&nbsp;B Loans
of all Banks.</P>
<P align=center>52</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Permitted Future Foreign Subsidiary Support"</I> means
(without duplication) (i)&nbsp;Investments (as defined in Section&nbsp;12.14) in
Foreign Subsidiaries and Minority Foreign Investments, (ii) Indebtedness
representing credit and other financial accommodations extended to Foreign
Subsidiaries and Minority Foreign Investments and permitted by
Section&nbsp;12.22(f)(ii) hereof, and (iii)&nbsp;payments pursuant to clause
(i), below, consisting solely of the following:</P>
<DIR>
<DIR>
<P align=justify>(i) not more than $12,000,000 in an aggregate amount on a
cumulative basis from and after the Effective Date to finance capital
expenditures of such Foreign Subsidiaries and Minority Foreign Investments;</P>
<P align=justify>(ii) not more than $7,000,000 in an aggregate amount on a
cumulative basis from and after the Effective Date comprised of Investments in
or Indebtedness of Foreign Subsidiaries and Minority Foreign Investments to pay
cash charges associated with 80/20 initiatives; </P>
<P align=justify>(iii) not more than $19,500,000 in an aggregate outstanding
principal amount from and after the Effective Date to finance ordinary working
capital needs (including maintenance of reasonable cash balances) of such
Foreign Subsidiaries and Minority Foreign Investments, of which (x)&nbsp;not
more than $5,000,000 may be comprised of incremental Investments or Indebtedness
incurred, advanced or invested after the Effective Date to finance such working
capital needs and (y)&nbsp;not more than $14,500,000 may be comprised of
Indebtedness or Investments refinancing Indebtedness of Foreign Subsidiaries
outstanding on the Effective Date; and</P>
<P align=justify>(iv) not more than $500,000 in an aggregate amount on a
cumulative basis from and after the Effective Date in the form of Investments by
the Company or another Credit Party in one or more business ventures in
China.</P></DIR></DIR><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Permitted Liquid Investments"</I> means investments that would
reasonably be considered cash equivalents or other short-term, high quality,
liquid investments.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Person"</I> means any corporation, natural person, firm, joint
venture, partnership, limited liability company, trust, unincorporated
organization, enterprise, government or any department or agency of any
government.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Plan"</I> means an employee pension benefit plan which is
covered by Title IV of ERISA or subject to the minimum funding standards under
Section 412 of the Internal Revenue Code as to which the Company or any
Subsidiary may have any liability.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Plastic"</I> means Plastic Binding Corporation, an Illinois
corporation.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Pledge Agreements" </I>means (i)&nbsp;that certain Pledge
Agreement dated as of November&nbsp;12, 1999, as amended, modified or
reaffirmed, and (ii)&nbsp;each other pledge agreement (or analogous instrument),
in each case among the Company and/or certain of its Subsidiaries and the
Administrative Agent, and including without limitation pledge agreements (or
analogous&nbsp;</P>
<P align=center>53</P>
<P align=justify> instruments) pledging stock of Foreign Subsidiaries, as the same may
be amended, modified, supplemented or restated from time to time.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Pound Sterling"</I> means the lawful currency of the United
Kingdom.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Previous Credit Agreement"</I> is defined in the second
recital hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Previous Loans"</I> is defined in the second recital
hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Property"</I> means any interest in any kind of property or
asset, whether real, personal or mixed, or tangible or intangible, whether now
owned or hereafter acquired.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Receivables"</I> means all accounts, contract rights,
instruments, chattel paper and general intangibles in which the Company or any
of its Subsidiaries now has or hereafter acquires title to.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Refunding Borrowing"</I> is defined in Section 2.2(d)
hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Reimbursement Obligation"</I> is defined in
Section&nbsp;1.3(e) hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Reportable Event"</I> means a reportable event as defined in
Section 4043 of ERISA and the regulations issued under such Section, with
respect to a Plan, excluding, however, such events as to which the PBGC by
regulation has waived the requirement of Section 4043(a) of ERISA that it be
notified within 30 days of the occurrence of such event (provided that a failure
to meet the minimum funding standard of Section 412 of the Code or of Section
302 of ERISA shall be a reportable event regardless of the issuance of any such
waivers in accordance with Section 412(d) of the Code).</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Required Banks"</I> means, as of the date of determination
thereof, those Banks holding at least 60% of the Percentages.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Responsible Officer"</I> means the individuals (if any)
holding the following offices in the Company or performing the following
functions for the Company: chief executive officer, chief financial officer,
chief operating officer, treasurer, assistant treasurer and general
counsel.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Restricted Payments"</I> is defined in Section&nbsp;12.20
hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Revolver Percentage"</I> means, for each Bank, the percentage
of the Revolving Credit Commitments represented by such Bank's Revolving Credit
Commitment or, if the Revolving Credit Commitments have been terminated, the
percentage held by such Bank (including through participation interests as a
Participating Bank in Swing Line Loans and L/C Obligations) of the aggregate
principal amount of all outstanding Committed Revolving Loans, Swing Line Loans
and L/C Obligations.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Revolving Credit Commitment"</I> means, as of any time, for
each Bank, the amount set forth on such Bank's signature page hereto as its
Revolving Credit Commitment, as it may be adjusted from time to time pursuant to
the terms hereof.</P>
<P align=center>54</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Revolving Credit Commitments"</I> means the aggregate of the
Revolving Credit Commitments for all the Banks (taken together) which shall,
subject to Section&nbsp;5.7 hereof, be in the amount of $90,000,000. </P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Revolving Credit Termination Date"</I> means January&nbsp;13,
2004.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Revolving Loans" </I>means, collectively, all Committed
Revolving Loans and all Swing Line Loans.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Security Agreement"</I> means that certain Amended and
Restated Security Agreement dated as of even date herewith among the Company and
certain of its Domestic Subsidiaries and the Administrative Agent, as the same
may be amended, modified, supplemented or restated from time to time.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Security Agreement Re: Intellectual Property"</I> means that
certain Security Agreement Re: Intellectual Property dated as of
November&nbsp;12, 1999 among the Company, certain of its Domestic Subsidiaries
and the Administrative Agent, as the same may be amended, modified, supplemented
(including, without limitation, pursuant to supplements dated on or about the
date hereof) or restated from time to time.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Senior Consolidated Debt"</I> means all Debt (other than
Subordinated Debt) of the Company and its Subsidiaries determined (without
duplication) on a consolidated basis in accordance with GAAP; <I>provided,
however,</I> that it is understood that to avoid duplication in calculating
Senior Consolidated Debt, only Guaranties of third parties' obligations and of
other obligations not otherwise included in the Debt of the Company or of a
consolidated Subsidiary shall be included; <I>provided, further, however</I>,
that Senior Consolidated Debt shall also not include any guarantees to the
extent and only to the extent the obligations covered by such guarantees are
secured by Permitted Liquid Investments segregated and held expressly for that
purpose by or on behalf of the party to whom such obligations are owed. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT
face="Times,Times New Roman">
<I>"Senior Leverage Ratio"</I> means, as of any time the same is
to be determined, the ratio of Senior Consolidated Debt at such time to
Consolidated EBITDA for the four most recently completed fiscal quarters of the
Company. </P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Set-off"</I> is defined in Section 17.7 hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Significant Subsidiary"</I> means (i) each Subsidiary except a
Subsidiary that neither (a)&nbsp;has (together with its subsidiaries)
consolidated total assets that constitute more than 3% of Consolidated Total
Assets as of the close of the current or any subsequent fiscal year of the
Company for which audited financial statements are available, nor (b)&nbsp;has
(together with its subsidiaries) consolidated gross sales that constitute more
than 3% of consolidated gross sales of the Company and its Subsidiaries as of
the close of the current or any subsequent fiscal year of the Company for which
audited financial statements are available, (ii) each Borrowing Subsidiary and
(iii) each Guarantor (other than the Company). Assets and sales of Foreign
Subsidiaries shall be converted into U.S. Dollars at the U.S. Dollar Equivalent
as of the date of the most recent audited financial statements furnished to the
Banks pursuant to Section&nbsp;12.6(a) hereof. Once a&nbsp;</P>
<P align=center>55</P>
<P align=justify> Subsidiary is a
Significant Subsidiary, it shall remain a Significant Subsidiary unless and
until the Required Banks agree otherwise.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Single Employer Plan"</I> means a Plan maintained by the
Company or any member of the Controlled Group for employees of the Company or
any member of the Controlled Group.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Spanish Pesetas"</I> means the lawful currency of
Spain.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Standby Letter of Credit" </I>means a Letter of Credit that is
not a Commercial Letter of Credit.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Subordinated Debt"</I> means, as of any time the same is to be
determined, Debt of the Company or any Subsidiary subordinated in right of
payment to the Obligations, pursuant to documentation containing interest rates,
payment terms, maturities, amortization schedules, covenants, defaults,
remedies, subordination provisions and other material terms in form and
substance reasonably satisfactory to the Required Banks.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Subsidiary"</I> means, as to the Company, any corporation or
other Person of which more than fifty percent (50%) of the outstanding stock or
comparable equity interests having ordinary voting power for the election of the
Board of Directors of such corporation or similar governing body in the case of
a non-corporation (irrespective of whether or not, at the time, stock or other
equity interests of any other class or classes of such corporation or other
entity shall have or might have voting power by reason of the happening of any
contingency) is at the time directly or indirectly owned by the Company or by
one or more of its Subsidiaries.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Subsidiary Guarantee Agreement"</I> means (i)&nbsp;for each
Subsidiary which is a signatory hereto, this Agreement and (ii)&nbsp;for each
other Subsidiary, a letter to the Administrative Agent in the form of
Exhibit&nbsp;J hereto executed by such Subsidiary whereby it acknowledges it is
party hereto as a Guarantor under Section&nbsp;16 hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Swing Line Banks"</I> means the Domestic Swing Line Bank and
the Multicurrency Swing Line Bank, and the term <I>"Swing Line Bank" </I>shall
mean each of the Swing Line Banks individually, unless the context in which such
term is used shall otherwise require.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Swing Line Loans"</I> means the Domestic Swing Line Loans and
the Multicurrency Swing Line Loans, and the term <I>"Swing Line Loan" </I>shall
mean each of the Swing Line Loans individually, unless the context in which such
term is used shall otherwise require.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Swiss Francs"</I> means the lawful currency of
Switzerland.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"TARGET Day"</I> means any day on which the Trans-European
Automated Realtime Gross Settlement Express Transfer system is operating.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Term&nbsp;A Loan" </I>is defined in Section&nbsp;1.1(a)
hereof.</P>
<P align=center>56</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Term&nbsp;A Loan Commitment" </I>means, as of any time, for
each Bank, the amount set forth on such Bank's signature page hereto as its
Term&nbsp;A Loan Commitment, as it may be adjusted from time to time pursuant to
the terms hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Term&nbsp;A Loan Commitments" </I>means the aggregate of the
Term&nbsp;A Loan Commitments for all the Banks (taken together), which on the
Effective Date is $160,390,243.90</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Term&nbsp;A Loan Percentage" </I>means, for each Bank, the
percentage held by such Bank of the aggregate principal amount of all
Term&nbsp;A Loans then outstanding.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Term&nbsp;A Loan Termination Date"</I> means January&nbsp;13,
2004.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Term&nbsp;A Note"</I> is defined in Section&nbsp;5.6(a)
hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Term&nbsp;B Loan"</I> is defined in Section&nbsp;1.1(b)
hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Term&nbsp;B Loan Commitment"</I> means, as of any time, for
each Bank, the amount set forth on such Bank's signature page hereto as its
Term&nbsp;B Loan Commitment, as it may be adjusted from time to time pursuant to
the terms hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Term&nbsp;B Loan Commitments"</I> means the aggregate of the
Term&nbsp;B Loan Commitments for all the Banks (taken together) which on the
Effective Date is $39,609,756.10.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Term&nbsp;B Loan Percentage"</I> means, for each Bank, the
percentage held by such Bank of the aggregate principal amount of all
Term&nbsp;B Loans then outstanding.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Term&nbsp;B Loan Termination Date"</I> means July&nbsp;13,
2004.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Term&nbsp;B Note"</I> is defined in Section&nbsp;5.6(a)
hereof.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Term Loan"</I> means either a Term&nbsp;A Loan or a
Term&nbsp;B Loan, as the context may require, and <I>"Term Loans"</I> means the
Term&nbsp;A Loans and the Term&nbsp;B Loans, collectively.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Term Loan Commitments"</I> means either a Term&nbsp;A Loan
Commitment or a Term&nbsp;B Loan Commitment, as the context may require, and
<I>"Term Loan Commitments"</I> means the Term&nbsp;A Loan Commitments and the
Term&nbsp;B Loan Commitments, collectively.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Term Loan Percentage"</I> means, for each Bank, its
Term&nbsp;A Loan Percentage or its Term&nbsp;B Loan Percentage, as the case may
be.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Term Note"</I> means either a Term&nbsp;A Note or a
Term&nbsp;B Note, as the context may require, and <I>"Term Notes"</I> means the
Term&nbsp;A Notes and the Term B Notes, collectively.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Total Consideration"</I> means the total amount (but without
duplication) of (a)&nbsp;cash paid in connection with any Acquisition, plus
(b)&nbsp;indebtedness payable to the seller in connection with such Acquisition,
plus (c)&nbsp;the fair market value of any equity securities, including any
warrants or options therefor, delivered in connection with any Acquisition
(other than new equity securities issued by the Company or any of its
Subsidiaries), plus (d)&nbsp;the present value of payments due&nbsp;</P>
<P align=center>57</P>
<P align=justify> pursuant to
covenants not to compete entered into in connection with such Acquisition or
other future payments which are required to be made over a period of time and
are not contingent upon the Company or any of its Subsidiaries meeting financial
performance objectives (discounted at the Domestic Rate), but only to the extent
not included in clause&nbsp;(a), (b), or (c) above, plus (e)&nbsp;the amount of
indebtedness assumed in connection with such Acquisition.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Treaty on European Union"</I> means the Treaty of Rome of
March 25,&nbsp;1957, as amended by the Single European Act of 1986 and the
Maastricht Treaty (which was signed at Maastricht on February 7,&nbsp;1992, and
came into force on November 1,&nbsp;1993, as amended from time to time).</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;Unfunded Vested Liabilities"</I> means, (i) in the case of
Single Employer Plans, the amount (if any) by which the present value of all
vested nonforfeitable benefits under such Plan exceeds the fair market value of
all Plan assets allocable to such benefits, all determined as of the then most
recent valuation date for such Plan, and (ii) in the case of Multiemployer
Plans, the withdrawal liability of the Company or other member of the Controlled
Group under such Multiemployer Plan.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Unused Revolving Credit Commitments"</I> means as of any time,
the difference between (x) the Revolving Credit Commitments then in effect
(without regard to any reduction in actual availability as a result of the
failure of the IBICO&nbsp;GmbH Pledge Event to have occurred) and (y)&nbsp;the
greater of the (i) Original Dollar Amount and (ii) U.S. Dollar Equivalent, as
the case may be, of the aggregate principal amount of all Revolving Loans
(whether Committed Revolving Loans or Swing Line Loans) and L/C Obligations then
outstanding.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"U.S. Dollars"</I> and <I>"$"</I> each means the lawful
currency of the United States of America.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"U.S. Dollar Equivalent"</I> means the amount of U.S. Dollars
which would be realized by converting a foreign currency into U.S. Dollars in
the spot market at the exchange rate quoted by the Administrative Agent (or the
Multicurrency Swing Line Bank, for the sole purpose of determining the amount of
Multicurrency Swing Line Loans or Foreign Credit L/C Obligations if such
determination would result in a larger amount and the Multicurrency Swing Line
Bank so informs the Administrative Agent) at approximately 11:00 a.m. (London
time) two Business Days prior to the date on which a computation thereof is
required to be made, to major banks in the interbank foreign exchange market for
the purchase of U.S. Dollars with such foreign currency.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Voting Equity"</I> shall mean the issued and outstanding
shares of each class of capital stock or other ownership interests entitled to
vote (within the meaning of Treas. Reg. Section 1.956-2(c)(2).</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Voting Stock"</I> of any Person means capital stock of any
class or classes or other equity interests (however designated) having ordinary
voting power for the election of directors or similar governing body of such
Person, other than stock or other equity interests having such power only by
reason of the happening of a contingency.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
"Wholly-Owned"</I> when used in connection with any Subsidiary
of the Company means a Subsidiary of which all of the issued and outstanding
shares of stock or other equity interests&nbsp;</P>
<P align=center>58</P>
<P align=justify> (other than directors' qualifying
shares as required by law) shall be owned by the Company and/or one or more of
its Wholly-Owned Subsidiaries.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;8.2. Interpretation</I>. The foregoing
definitions shall be equally applicable to both the singular and plural forms of
the terms defined. All references to times of day herein shall be references to
Chicago, Illinois time unless otherwise specifically provided. Where the
character or amount of any asset or liability or item of income or expense is
required to be determined or any consolidation or other accounting computation
is required to be made for the purposes of this Agreement, the same shall be
done in accordance with GAAP except where such principles are inconsistent with
the specific provisions of this Agreement.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;8.3. Change in Accounting Principles</I>. If,
after the date of this Agreement, there shall occur any change in GAAP from
those used in the preparation of the financial statements referred to in
Section&nbsp;9.4 hereof and such change shall result in a change in the method
of calculation of any financial covenant, standard or term found in this
Agreement, either the Company or the Required Banks may by notice to the Banks
and the Company, respectively, require that the Banks and the Company negotiate
in good faith to amend such covenant, standard and term so as equitably to
reflect such change in accounting principles, with the desired result being that
the criteria for evaluating the financial condition of the Company and its
Subsidiaries shall be the same as if such change had not been made. No delay by
the Company or the Required Banks in requiring such negotiation shall limit
their right to so require such a negotiation at any time after such a change in
accounting principles. Until any such covenant, standard or term is amended in
accordance with this Section&nbsp;8.3, financial covenants shall be computed and
determined in accordance with GAAP in effect prior to such change in accounting
principles. Without limiting the generality of the foregoing, the Company shall
neither be deemed to be in compliance with any financial covenant hereunder nor
out of compliance with any financial covenant hereunder if such state of
compliance or noncompliance, as the case may be, would not exist but for the
occurrence of a change in accounting principles after the date hereof.</P>
<P>Section 9. Representations and Warranties of
Company.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company hereby represents and warrants to each Bank as to
itself and, where the following representations and warranties apply to
Subsidiaries, as to each of its Subsidiaries, as follows:</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;9.1. Corporate Organization and Authority</I>.
The Company is duly organized and existing in good standing under the laws of
the State of Delaware; has all necessary corporate power to carry on its present
business; and is duly licensed or qualified and in good standing in each
jurisdiction in which the nature of the business transacted by it or the nature
of the Property owned or leased by it makes such licensing, qualification or
good standing necessary and in which the failure to be so licensed, qualified or
in good standing would have a Material Adverse Effect.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;<i>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;9.2. Subsidiaries</i>. Schedule&nbsp;9.2 (as
updated from time to time pursuant to Section&nbsp;12.6(a)) hereto identifies,
as of the date of the most recent such Schedule delivered to&nbsp;</P>
<P align=center>59</P>
<P align=justify> the Administrative
Agent, each Subsidiary, the jurisdiction of its incorporation, the percentage of
issued and outstanding shares of each class of its capital stock owned by the
Company and the Subsidiaries and, if such percentage is not 100% (excluding
directors' qualifying shares as required by law), a description of each class of
its authorized capital stock and the number of shares of each class issued and
outstanding. Each Subsidiary is duly incorporated and existing in good standing
as a corporation under the laws of the jurisdiction of its incorporation, has
all necessary corporate power to carry on its present business, and is duly
licensed or qualified and in good standing in each jurisdiction in which the
nature of the business transacted by it or the nature of the Property owned or
leased by it makes such licensing or qualification necessary and in which the
failure to be so licensed or qualified would have a Material Adverse Effect. All
of the issued and outstanding shares of capital stock of each Subsidiary are
validly issued and outstanding and fully paid and nonassessable except as set
forth on Schedule 9.2 hereto. All such shares owned by the Company are owned
beneficially, and of record, free of any Lien other than the Liens granted in
favor of the Administrative Agent pursuant to the Collateral Documents. Each
Subsidiary that is a Significant Subsidiary and each Subsidiary which is a First
Tier Foreign Subsidiary is so noted in each case on Schedule&nbsp;9.2 hereto.
Each Subsidiary is a Guarantor except to the extent (i)&nbsp;Section&nbsp;7.5(b)
does not yet require such Subsidiary be a Guarantor, (ii)&nbsp;in the case of a
Foreign Subsidiary, Section&nbsp;7.4 does not yet require such Foreign
Subsidiary be a Guarantor and (iii) in the case of those Subsidiaries
established or acquired after the date hereof, the Required Banks have agreed
pursuant to Section&nbsp;7.5(b) hereof that the same need not be Guarantors.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;9.3. Corporate Authority and Validity of
Obligations</I>. The Company has full right and authority to enter into this
Agreement and the other Loan Documents to which it is a party, to grant to the
Administrative Agent the Liens described in the Collateral Documents executed by
the Company, to make the borrowings herein provided for, to issue its Notes in
evidence thereof, to apply for the issuance of the Letters of Credit, and to
perform all of its obligations under the Loan Documents, to which it is a party.
Each Guarantor has full right and authority to enter into this Agreement as a
signatory hereto or pursuant to a Subsidiary Guarantee Agreement and to perform
all of its obligations hereunder or thereunder. Each Loan Document to which the
Company or any Guarantor is a party has been duly authorized, executed and
delivered by the Company or such Guarantor, as the case may be, and constitutes
a valid and binding obligation of the Company or such Guarantor, enforceable in
accordance with its terms, subject to general principles of equity and
bankruptcy, reorganization, insolvency and similar laws of general application
to enforcement of creditors' rights. No Loan Document, nor the performance or
observance by the Company or any Guarantor of any of the matters or things
therein provided for, contravenes any provision of law or any charter or by-law
provision of the Company or any Guarantor or any Contractual Obligation of or
affecting the Company or any Guarantor or any of their respective Properties
which if breached would reasonably be expected to have a Material Adverse Effect
or results in or requires the creation or imposition of any Lien on any of the
Properties or revenues of the Company or any Subsidiary other than the Liens
granted in favor of the Administrative Agent pursuant to the Collateral
Documents.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;9.4. Financial Statements</I>. All audited
financial statements heretofore delivered to the Banks showing historical
performance of the Company for each of the Company's fiscal years ending on or
before December&nbsp;31, 2000, and the unaudited interim financial statements&nbsp;</P>
<P align=center>60</P>
<P align=justify>
heretofore delivered to the Banks for the three fiscal quarters ending
September&nbsp;30, 2001, in each case, have been prepared in accordance with
generally accepted accounting principles applied on a basis consistent, except
as otherwise noted therein, with that of the previous fiscal year. Each of such
financial statements fairly presents on a consolidated basis the financial
condition of the Company and its Subsidiaries as of the dates thereof and the
results of operations for the periods covered thereby. The Company and its
Subsidiaries have no material contingent liabilities other than those disclosed
in such financial statements referred to in this Section&nbsp;9.4 or in comments
or footnotes thereto, or in any report supplementary thereto, heretofore
furnished to the Banks. The Company and its Subsidiaries have no material
Foreign Investments other than those disclosed in the most recent Foreign
Investment List furnished to the Banks. Since September&nbsp;30, 2001, there has
occurred no event which has had or would reasonably be expected to have a
Material Adverse Effect.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;9.5. No Litigation; No Labor Controversies</I>.
(a)&nbsp;There is no litigation or governmental proceeding pending, or to the
knowledge of the Company or any Subsidiary threatened, against the Company or
any Subsidiary which would reasonably be expected to be adversely determined and
which, if adversely determined, would have a Material Adverse Effect.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) There are no labor controversies pending or, to the
knowledge of the Company or any Subsidiary, threatened against the Company or
any Subsidiary which would be reasonably expected to have a Material Adverse
Effect.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;9.6. Taxes</I>. The Company and its
Subsidiaries have filed all United States federal and state income tax returns,
and all other material tax returns, required to be filed and have paid all taxes
due pursuant to such returns or pursuant to any assessment received by the
Company or any Subsidiary, except (i)&nbsp;such taxes, if any, as are being
contested in good faith and for which adequate reserves have been provided and
(ii)&nbsp;the taxes listed on Schedule 9.6 hereto. The United States income tax
returns of the Company and the Subsidiaries, on a consolidated basis, have been
audited by the Internal Revenue Service through the fiscal year ended December
31, 1990. No tax liens have been filed and no claims are being asserted
concerning any such taxes, which liens or claims are material to the financial
condition of the Company and its Subsidiaries on a consolidated basis taken as a
whole. To the Company's knowledge, the charges, accruals and reserves on the
books of the Company and its Subsidiaries for any taxes or other governmental
charges are adequate. </P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;9.7. Approvals</I>. No authorization, consent,
license, exemption, filing or registration with any court or governmental
department, agency or instrumentality, nor any approval or consent of the
stockholders of the Company or any Subsidiary or from any other Person, in
either case which has not yet been made or obtained, is necessary for the valid
execution, delivery or performance by the Company or any Subsidiary of any Loan
Document to which it is a party.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT
face="Times,Times New Roman">
<I>Section&nbsp;9.8. ERISA</I>. Except as set forth on
Schedule&nbsp;9.8 hereto, (i) each Plan complies in all material respects with
all applicable requirements of law and regulations to the extent noncompliance
therewith would reasonably be expected to create a liability to the Company or
any Subsidiary aggregating in excess of $10,000,000, (ii) no Reportable Event
has occurred with&nbsp;</FONT></P>
<P align=center>61</P>
<P align=justify> <FONT
face="Times,Times New Roman">
 respect to any Plan, (iii) neither the Company nor any of its
Subsidiaries has withdrawn from any Plan or initiated steps to do so, and
(iv)&nbsp;no steps have been taken to terminate any Plan except as disclosed in
writing by the Company to the Banks.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;9.9. Government Regulation</I>. Neither the
Company nor any Subsidiary is an <I>"investment company"</I> within the meaning
of the Investment Company Act of 1940, as amended, or a <I>"holding
company"</I>, or a <I>"subsidiary company"</I> of a <I>"holding company"</I>, or
an <I>"affiliate"</I> of a <I>"holding company"</I> or of a <I>"subsidiary
company"</I> of a <I>"holding company"</I>, within the meaning of the Public
Utility Holding Company Act of 1935, as amended.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;9.10. Margin Stock</I>. Neither the Company nor
any Subsidiary is engaged principally, or as one of its primary activities, in
the business of extending credit for the purpose of purchasing or carrying
margin stock (<I>"margin stock"</I> to have the same meaning herein as in
Regulation&nbsp;U of the Board of Governors of the Federal Reserve System). The
Company will not use the proceeds of any Loan or Letter of Credit in a manner
that violates any provision of Regulation&nbsp;U or X of the Board of Governors
of the Federal Reserve System.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;9.11. Licenses and Authorizations; Compliance
with Environmental and Health Laws</I>.&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT
face="Times,Times New Roman">(a)&nbsp;The Company and each of its
Subsidiaries has all necessary licenses, permits and governmental authorizations
to own and operate its Properties and to carry on its business as currently
conducted and contemplated, except to the extent the failure to have such
licenses, permits or authorizations would not have a Material Adverse
Effect.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) To the Company's knowledge, the business and operations of
the Company and each Subsidiary comply in all respects with all applicable
Environmental and Health Laws, except where the failure to so comply would not
reasonably be expected to have a Material Adverse Effect.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c) Neither the Company nor any Subsidiary has given, nor is it
required to give, nor has it received, any notice, letter, citation, order,
warning, complaint, inquiry, claim or demand to or from any governmental entity
or in connection with any court proceeding which would reasonably be expected to
result in a Material Adverse Effect claiming that: (i)&nbsp;the Company or any
Subsidiary has violated, or is about to violate, any Environmental and Health
Law; (ii)&nbsp;there has been a release, or there is a threat of release, of
Hazardous Materials from the Company's or any Subsidiary's Property, facilities,
equipment or vehicles; (iii)&nbsp;the Company or any Subsidiary may be or is
liable, in whole or in part, for the costs of cleaning up, remediating or
responding to a release of Hazardous Materials; or (iv)&nbsp;any of the
Company's or any Subsidiary's property or assets are subject to a Lien in favor
of any governmental entity for any liability, costs or damages, under any
Environmental and Health Law arising from, or costs incurred by such
governmental entity in response to, a release of Hazardous Materials.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;9.12. Ownership of Property; Liens</I>.
Schedule&nbsp;9.12 lists all principal real property locations used as of the
date hereof by the Company or any Subsidiary in the conduct of their respective
businesses. The Company and each Subsidiary has good record and marketable title
in fee simple to, or valid leasehold interests in, all such real property, as
specified in Schedule&nbsp;9.12, and good title to or valid leasehold interests
in all its other Property.</P>
<P align=center>62</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;9.13. No Burdensome Restrictions; Compliance
with Agreements</I>. Neither the Company nor any Subsidiary is (a)&nbsp;party or
subject to any law, regulation, rule or order, or any Contractual Obligation
that has a Material Adverse Effect or (b)&nbsp;in default in the performance,
observance or fulfillment of any of the obligations, covenants or conditions
contained in any agreement to which it is a party, which default has a Material
Adverse Effect.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;9.14. Full Disclosure</I>. All information
heretofore furnished by the Company or any Subsidiary to the Administrative
Agent or any Bank for purposes of or in connection with the Loan Documents or
any transaction contemplated thereby is, and all such information hereafter
furnished by the Company or any Subsidiary to the Administrative Agent or any
Bank will be, true and accurate in all material respects and not misleading on
the date as of which such information is stated or certified. Notwithstanding
the foregoing, the Administrative Agent and Banks acknowledge that as to any
projections furnished to them, the Company only represents that the same were
prepared on the basis of information and estimates the Company believed to be
reasonable.</P>
<P>Section 10. Representations and Warranties of Borrowing
Subsidiaries.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By its execution and delivery of this Agreement as a Borrowing
Subsidiary or by execution and delivery of its Election to Participate, each
Borrowing Subsidiary severally represents and warrants to each Bank as to itself
as follows:</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;10.1. Corporate Organization and Authority</I>.
Such Borrowing Subsidiary is duly organized and existing in good standing under
the laws of the jurisdiction of its incorporation; has all necessary corporate
power to carry on its present business; and is duly licensed or qualified and in
good standing in each jurisdiction in which the nature of the business
transacted by it or the nature of the Property owned or leased by it makes such
licensing, qualification or good standing necessary and in which the failure to
be so licensed, qualified or in good standing would have a Material Adverse
Effect.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;10.2. Corporate Authority and Validity of
Obligations</I>. Such Borrowing Subsidiary has full right and authority to enter
into this Agreement, its Election to Participate (if applicable) and the other
Loan Documents to which it is a party, to grant to the Administrative Agent the
Liens described in the Collateral Documents executed by such Borrowing
Subsidiary, to make the borrowings herein provided for, to issue its Notes in
evidence thereof, to apply for the issuance of the Letters of Credit, and to
perform all of its obligations under the Loan Documents to which it is a party.
Each Loan Document to which such Borrowing Subsidiary is a party has been duly
authorized, executed and delivered by such Borrowing Subsidiary and constitutes
a valid and binding obligation of such Borrowing Subsidiary enforceable in
accordance with its terms, subject to general principles of equity and
bankruptcy, reorganization, insolvency and similar laws of general application
to enforcement of creditors' rights. No Loan Document, nor the performance or
observance by such Borrowing Subsidiary of any of the matters or things therein
provided for, contravenes any provision of law or of any charter or by-law (or
any comparable constituent document) of such Borrowing Subsidiary or any
Contractual Obligation of or affecting the Company or such Borrowing Subsidiary
or any of their respective Properties which if breached would reasonably be
expected to have a Material Adverse Effect or&nbsp;</P>
<P align=center>63</P>
<P align=justify> results in or requires the
creation or imposition of any Lien on any of the Properties or revenues of the
Company or any Borrowing Subsidiary other than Liens granted in favor of the
Administrative Agent pursuant to the Collateral Documents.</P>
<P>Section 11. Conditions Precedent.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The obligation of each Bank to make any Loan hereunder, or of
an Issuing Agent to issue, extend the expiration date (including by not giving
notice of non-renewal) of or increase the amount of any Letter of Credit, shall
be subject to the following conditions precedent:</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;11.1. Initial Borrowing</I>. On or prior to the
Effective Date:</P>
<DIR>
<DIR>
<P align=justify>(a) the Administrative Agent shall have received for each Bank
the favorable written opinions of (i) Steven Rubin, general counsel to the
Company and each Domestic Subsidiary, in a form acceptable to the Administrative
Agent, (ii) Sidley, Austin, Brown &amp; Wood outside counsel to the Company and
each Domestic Subsidiary, in a form acceptable to the Administrative Agent,
(iii)&nbsp;Jones Vargas, special Nevada counsel to GBC&nbsp;International, Inc.
and GBC India Holdings Inc., in a form acceptable to the Administrative Agent,
and (iv) counsel for each Borrowing Subsidiary signatory hereto acceptable to
the Administrative Agent, substantially in the form of Exhibit I hereto (with
appropriate assumptions, exceptions and qualifications reasonably acceptable to
the Administrative Agent reflecting the laws of the relevant jurisdiction) and
covering such additional matters as the Required Banks may reasonably
request;</P>
<P align=justify>(b) the Administrative Agent shall have received for each Bank
(i) certified copies of resolutions of the Board of Directors (or comparable
authorizing documents) of each Borrower authorizing the execution, delivery and
performance of this Agreement and such Borrower's Notes, indicating the
authorized signers of this Agreement and such Borrower's Notes and all other
documents relating thereto and the specimen signatures of such signers and (ii)
copies of such Borrower's Certificate of Incorporation and by-laws (or other
comparable constituent documents) certified by the Secretary or other
appropriate officer of such Borrower together with (if available in the relevant
jurisdiction) a certificate of good standing (or similar document) certified by
the appropriate governmental officer in the jurisdiction of such Borrower's
organization;</P>
<P align=justify>(c) the Administrative Agent shall have received for each Bank
(i)&nbsp;certified copies of resolutions of the Board of Directors of each
Domestic Subsidiary authorizing its execution, delivery and performance of the
Loan Documents to which it is a party, indicating the authorized signers of the
Loan Documents to which it is a party and all other documents relating thereto
and the specimen signatures of such signers and (ii)&nbsp;copies of such
Domestic Subsidiary's Certificate or Articles of Incorporation and by-laws (or
analogous organizational documents), or certification that such Certificate or
Articles and by-laws have not changed since copies thereof were delivered to the
Administrative Agent on the date of the Previous Credit Agreement, certified by
the Secretary or other appropriate officer of such Domestic Subsidiary together
with, to the&nbsp;</P>
</DIR></DIR>
<P align=center>64</P>
<DIR>
<DIR>
<P align=justify> extent customarily issued, a certificate of good standing certified
by the appropriate governmental officer in the jurisdiction of such Domestic
Subsidiary's organization;</P>
<P align=justify>(d) the Administrative Agent shall have received&nbsp;for each
Bank (to the extent applicable to such Bank) such Bank's duly executed Committed
Revolving Loan Note of each Borrower and Term A Note or Term B Note of the
Company dated the date hereof and otherwise in compliance with the relevant
provisions of Section&nbsp;5.6 hereof and shall have received for each Swing
Line Bank its Swing Line Note of each Borrower dated the date hereof and
otherwise in compliance with the relevant provisions of Section&nbsp;5.6
hereof;</P>
<P align=justify>(e) each Domestic Subsidiary (other than Plastic) shall have
executed this Agreement as a Guarantor;</P>
<P align=justify>(f) the Administrative Agent shall have received a Foreign
Investment List completed as of November&nbsp;30, 2001; </P>
<P align=justify>(g) the Administrative Agent shall have received from the
Company a list of the Authorized Representatives;</P>
<P align=justify>(h) to the extent not otherwise waived in writing by the
Administrative Agent, the Administrative Agent shall have received an
Acknowledgment and Reaffirmation of Pledge Agreement, duly executed by the
Company and by GBC International, Inc., supplemental patent and trademark
collateral agreements, duly executed by the parties thereto, the Security
Agreement, duly executed by the Company and the Subsidiaries party thereto, any
amendments and/or restatements of any other Collateral Documents (including,
without limitation, Collateral Documents pledging Stock of Foreign Subsidiaries,
<I>provided </I>that the Administrative Agent may elect to allow some amendments
to Collateral Documents or delivery of new Collateral Documents pledging stock
of Foreign Subsidiaries to be delivered after the Effective Date) deemed
necessary or advisable by the Administrative Agent in connection herewith, duly
executed by the parties thereto, and supplements to the Mortgages, duly
executed, together with UCC financing statements to be filed against the Company
and each Guarantor, as debtor, in favor of the Administrative Agent, as secured
party;</P>
<P align=justify>(i) the Administrative Agent shall have received evidence of
insurance required to be maintained under the Loan Documents, naming the
Administrative Agent as mortgagee and loss payee;</P>
<P align=justify>(j) to the extent not otherwise waived in writing by the
Administrative Agent, the Administrative Agent shall have received a date-down
endorsement for each policy of title insurance (and all endorsements thereunder)
delivered in connection with the Previous Credit Agreement in form and substance
acceptable to the Administrative Agent from Lawyers Title Insurance Corporation
or such other title insurance company acceptable to the Administrative
Agent;</P>
</DIR></DIR>
<P align=center>65</P>
<DIR>
<DIR>
<P align=justify>(k) the Administrative Agent shall have received financing
statement, tax and judgment lien search results against the Property of the
Company and each Domestic Subsidiary (other than Plastic) evidencing the absence
of Liens on its Property except as permitted by Section&nbsp;12.9 hereof;</P>
<P align=justify>(l) the Administrative Agent shall have received such
evaluations and certifications as it shall reasonably require in order to
satisfy itself as to the value of the Collateral, including without limitation
the Collateral included in the Borrowing Base, and shall have received a
Borrowing Base Certificate and a compliance certificate, each as of a date
acceptable to the Administrative Agent, which compliance certificate shall show,
among other things, that (x)&nbsp;Consolidated EBITDA for the twelve months
ended October&nbsp;31, 2001 was not less than $80,000,000, and (y) the ratio of
Consolidated Debt on the Effective Date to Consolidated EBITDA for the twelve
month period ending October&nbsp;31, 2001 was not greater than 5.25 to 1.0; </P>
<P align=justify>(m) the loans under the Previous Credit Agreement shall be
refinanced with the proceeds of the initial Borrowing, as more fully described
in the recitals of this Agreement, and all accrued interest, fees and other
obligations under the Previous Credit Agreement shall have been repaid in full;
</P>
<P align=justify>(n) all fees and other amounts due to the Administrative Agent
or the Lenders on or prior to the Effective Date pursuant to any agreements with
such parties shall have been paid in full; and </P>
<P align=justify>(o) the consultation procedure with the works council
(<I>ondernemingsraad</I>) of GBC Nederland B.V. pursuant to section&nbsp;25 of
the Dutch Works Councils Act (<I>Wet op de ondernemingsraden</I>) has been
completed.</P></DIR></DIR>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;11.2. All Credit Events</I>. As of the time of
each Credit Event hereunder (including the initial Credit Event):</P>
<DIR>
<DIR>
<P align=justify>(a) In the case of a Borrowing, the Administrative Agent shall
have received the notice required by Section&nbsp;2.2 hereof (including any
deemed notice under Section 2.2(c)) or 3.3 or 4.2 hereof, as applicable, and the
Note of the relevant Borrower required by Section&nbsp;5.6 hereof for a
Borrowing of such type; in the case of the issuance of any Letter of Credit the
relevant Issuing Agent shall have received a duly completed Application for a
Letter of Credit; and in the case of an extension or increase in the amount of a
Letter of Credit, a written request therefor, in a form acceptable to the
relevant Issuing Agent;</P>
<P align=justify>(b) In the case of a Credit Event other than a Refunding
Borrowing, each of the representations and warranties of the Company and
Borrowing Subsidiaries set forth in Sections 9 (other than the last sentence of
Section&nbsp;9.4) and 10 hereof shall be and remain true and correct in all
material respects as of said time, except that if any such representation or
warranty relates solely to an earlier date it need only remain true as of such
date;</P>
</DIR></DIR>
<P align=center>66</P>
<DIR>
<DIR>
<P align=justify>(c) In the case of a Credit Event other than (i) a Refunding
Borrowing in Domestic Rate Loans and (ii) a Refunding Borrowing in Eurocurrency
Loans (refunding a Borrowing denominated in an Alternative Currency) in the same
Alternative Currency with an Interest Period not exceeding one (1) calendar
month, no Default or Event of Default shall have occurred and be continuing or
would occur as a result of such Credit Event; </P>
<P align=justify>(d) In the case of a Credit Event (including a Refunding
Borrowing), after giving effect to such Credit Event, (i) neither the Original
Dollar Amount nor the U.S. Dollar Equivalent of the aggregate principal amount
of all Revolving Loans (whether Committed Revolving Loans or Swing Line Loans
and L/C Obligations outstanding hereunder shall exceed the Revolving Credit
Commitments then in effect <I>minus,</I> until the IBICO GmbH Pledge Event has
occurred, $10,000,000, (or, if less, the Borrowing Base as then determined and
computed in accordance with the terms hereof), (ii)&nbsp;the aggregate Original
Dollar Amount of Committed L/C Obligations shall not exceed the
L/C&nbsp;Commitment then in effect, (iii)&nbsp;the aggregate principal amount of
Domestic Swing Line Loans outstanding hereunder shall not exceed the lesser of
the Unused Revolving Credit Commitments <I>minus,</I> until the IBICO GmbH
Pledge Event has occurred, $10,000,000, and the Domestic Swing Line Commitment,
(iv) neither the aggregate Original Dollar Amount nor the U.S. Dollar Equivalent
of the aggregate principal amount of Multicurrency Swing Line Loans and Foreign
Credit L/C Obligations outstanding hereunder shall exceed the lesser of the
Unused Revolving Credit Commitments <I>minus,</I> until the IBICO GmbH Pledge
Event has occurred, $10,000,000, and the Multicurrency Swing Line Commitment,
and (v) neither the Original Dollar Amount nor the U.S. Dollar Equivalent of all
Loans and L/C Obligations denominated in an Alternative Currency and outstanding
hereunder shall exceed the Foreign Currency Sub-Limit (if any) for such
Alternative Currency; and</P>
<P align=justify>(e) Such Borrowing shall not violate any order, judgment or
decree of any court or other authority or any provision of law or regulation
applicable to any Bank (including, without limitation, Regulation U of the Board
of Governors of the Federal Reserve System) as then in effect.</P></DIR></DIR>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each request for a Borrowing hereunder shall be deemed to be a
representation and warranty by the Company on the date of such Borrowing as to
the facts specified in paragraphs (b), (c) and (d) of this Section 11.2.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;11.3. First Borrowing by Each Borrowing
Subsidiary</I>. In the case of the first Borrowing after the Effective Date by
each Borrowing Subsidiary which becomes a party hereto after the Effective
Date:</P>
<DIR>
<DIR>
<P align=justify>(a) The Administrative Agent shall have received an opinion of
counsel for such Borrowing Subsidiary acceptable to the Administrative Agent,
substantially in the form of Exhibit&nbsp;I hereto (with appropriate
assumptions, exceptions and qualifications reasonably acceptable to the
Administrative Agent reflecting the laws of the relevant&nbsp;</P>
</DIR></DIR>
<P align=center>67</P>
<DIR>
<DIR>
<P align=justify> jurisdiction) and
covering such additional matters as the Required Banks may reasonably request;
and</P>
<P align=justify>(b) The Administrative Agent shall have received for each Bank
(i) certified copies of resolutions of the Board of Directors (or comparable
authorizing documents) of such Borrowing Subsidiary authorizing the execution,
delivery and performance of this Agreement, including the execution and delivery
of an Election to Participate, and the Borrowing Subsidiary's Notes, indicating
the authorized signers of this Agreement, through the Election to Participate,
and the Borrowing Subsidiary's Notes and all other documents relating thereto
and the specimen signatures of such signers and (ii) copies of such Borrowing
Subsidiary's charter and by-laws (or other comparable constituent documents)
certified by the Secretary or other appropriate officer of such Borrowing
Subsidiary together with (if available in the relevant jurisdiction) a
certificate of good standing (or similar document) certified by the appropriate
governmental officer in the jurisdiction of such Borrowing Subsidiary's
incorporation.</P></DIR></DIR>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The documents referred to in this Section 11.3 shall be
delivered to the Administrative Agent by the Borrower no later than the date of
the first Borrowing by such Borrower. The opinion referred to in clause (a)
above shall be dated on or prior to the date of the first Borrowing by such
Borrower hereunder.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;<i>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;11.4. Additional Conditions to Credit Events
other than Refunding Borrowings.</i> In addition to the conditions set forth in
Sections 11.1, 11.2 and 11.3 hereof, as of the time of each Credit Event other
than a Refunding Borrowing, the representations and warranties set forth in the
last sentence of Section 9.4 hereof shall be true as of said time, and the
request for such Credit Event, as referred to in Section 11.2(a), shall be and
constitute a representation and warranty as to such matters specified in the
last sentence of Section 9.4 hereof; <I>provided, however</I>, that the
reference in such sentence to the date September&nbsp;30, 2001 shall be deemed a
reference to the date of the most recent annual financial statements submitted
pursuant to Sections&nbsp;12.6(a)(i) hereof.</P>
<P>Section 12. Covenants.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company covenants and agrees that, so long as any Note or
any L/C Obligation is outstanding hereunder, or any Commitment is available to
or in use by any Borrower hereunder, except to the extent compliance in any case
is waived in writing by the Required Banks:</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.1. Corporate Existence; Subsidiaries</I>.
The Company shall, and shall cause each of its Subsidiaries to, preserve and
maintain its corporate existence, subject to the provisions of
Section&nbsp;12.12 hereof. </P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.2. Maintenance</I>. The Company will
maintain, preserve and keep its plants, properties and equipment deemed by it
necessary to the proper conduct of its business in reasonably good repair,
working order and condition and will from time to time make all&nbsp;</P>
<P align=center>68</P>
<P align=justify> reasonably
necessary repairs, renewals, replacements, additions and betterments thereto so
that at all times such plants, properties and equipment shall be reasonably
preserved and maintained, and the Company will cause each of its Subsidiaries to
do so in respect of Property owned or used by it; <I>provided, however,</I> that
nothing in this Section&nbsp;12.2 shall prevent the Company or a Subsidiary from
discontinuing the operation or maintenance of any such Properties if such
discontinuance is, in the judgment of the Company, desirable in the conduct of
the business of the Company and its Subsidiaries taken as a whole and not
reasonably expected to have any Material Adverse Effect.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.3. Taxes</I>. The Company will duly pay and
discharge, and will cause each of its Subsidiaries duly to pay and discharge,
all federal and state income taxes and other material taxes, rates, assessments,
fees and governmental charges upon or against it or against its Properties, in
each case before the same becomes delinquent and before penalties accrue
thereon, unless and to the extent that the same is being contested in good faith
by appropriate proceedings and reserves in conformity with GAAP have been
provided therefor on the books of the Company.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.4. ERISA</I>. The Company will, and will
cause each of its Subsidiaries to, promptly pay and discharge all obligations
and liabilities arising under ERISA of a character which if unpaid or
unperformed might result in the imposition of a Lien against any of its
properties or assets and will promptly notify the Administrative Agent of
(i)&nbsp;the occurrence of any reportable event (as defined in ERISA) affecting
a Plan, other than any such event of which the PBGC has waived notice by
regulation, (ii)&nbsp;receipt of any notice from PBGC of its intention to seek
termination of any Plan or appointment of a trustee therefor, (iii)&nbsp;its or
any of its Subsidiaries' intention to terminate or withdraw from any Plan, and
(iv)&nbsp;the occurrence of any event affecting any Plan which could result in
the incurrence by the Company or any of its Subsidiaries of any material
liability, fine or penalty, or any material increase in the contingent liability
of the Company or any of its Subsidiaries under any post-retirement Welfare Plan
benefit. The Administrative Agent will promptly distribute to each Bank any
notice it receives from the Company pursuant to this Section 12.4.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.5. Insurance</I>. The Company will insure,
and keep insured, and will cause each of its Subsidiaries to insure, and keep
insured, with good and responsible insurance companies all insurable Property
owned by it of a character usually insured by companies similarly situated and
operating like Property. To the extent reasonably and in good faith deemed
appropriate by the Company, the Company will also insure, and cause each of its
Subsidiaries to insure, employers' and public and product liability risks with
good and responsible insurance companies. The Company shall in any event
maintain, and cause each Subsidiary to maintain, insurance on the Collateral to
the extent required by the Collateral Documents. The Company will upon request
of any Bank furnish to such Bank a summary setting forth the nature and extent
of the insurance maintained pursuant to this Section&nbsp;12.5.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;<i>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.6. Financial Reports and Other
Information</i>. (a)&nbsp;The Company will maintain a system of accounting in
accordance with GAAP and will furnish to the Banks and their respective duly
authorized representatives such information respecting the business and
financial&nbsp;</P>
<P align=center>69</P>
<P align=justify> condition of the Company and its Subsidiaries as any Bank may
reasonably request; and without any request, the Company will furnish each of
the following to each Bank:</P>
<DIR>
<DIR>
<P align=justify>(i) Within 90 days after the close of each of its fiscal years,
an audit report certified by independent certified public accountants acceptable
to the Required Banks, unqualified as to scope or going concern, prepared in
accordance with GAAP on a consolidated basis for itself and the Subsidiaries
(including segment information), including a balance sheet as of the end of such
period, and an income statement and statement of cash flows for such period,
including management's discussion and analysis with respect thereto, accompanied
by a certificate of said accountants that, in the course of their examination
necessary for their certification of the foregoing, they have obtained no
knowledge of any Default or Event of Default or if, in the opinion of such
accountants, any Default or Event of Default shall exist, stating the nature and
status thereof;</P>
<P align=justify>(ii) Within 50 days after the close of each quarterly period of
each of its fiscal years (except for the last such quarterly period in each
fiscal year), for itself and the Subsidiaries (including segment information), a
consolidated unaudited balance sheet as at the close of each such period and for
the fiscal year-to-date period then ended, and a consolidated income statement
and a consolidated statement of cash flows for the fiscal year-to-date period
then ended, in each case in accordance with GAAP and showing in comparative form
the figures for the corresponding date and period in the previous fiscal year,
including management's discussion and analysis with respect thereto, all
certified by its chief financial officer or another executive officer of the
Company;</P>
<P align=justify>(iii) Within 30 days after the close of each monthly accounting
period of each of its fiscal years (except for each monthly accounting period
which coincides with a quarterly fiscal period), for itself and the Subsidiaries
(including segment information), a consolidated unaudited balance sheet as at
the close of each such period and for the fiscal year-to-date period then ended,
and a consolidated income statement and a consolidated statement reflecting
Consolidated Capital Expenditures and consolidated depreciation and amortization
for the Company and its Subsidiaries, in each case for such period and for the
fiscal year-to-date period then ended and in accordance with GAAP, showing in
comparative form the figures for the corresponding date and period in the
previous fiscal year, and showing performance in comparison to the business plan
required under Section&nbsp;12.6(a)(x) hereof, including management's comments
with respect thereto, all certified by its chief financial officer or another
executive officer of the Company;</P>
<P align=justify>(iv) Within one year after the close of each fiscal year, a
statement of the Unfunded Vested Liabilities of each Single Employer Plan,
certified as correct by an actuary enrolled under ERISA;</P>
<P align=justify>(v) As soon as possible and in any event within 10 days after
the Company knows that any Reportable Event has occurred with respect to any
Plan, a statement, signed by the chief financial officer or another executive
officer of the Company, describing said Reportable Event and the action the
Company proposes to take with respect thereto;</P>
</DIR></DIR>
<P align=center>70</P>
<DIR>
<DIR>
<P align=justify>(vi) As soon as possible and in any event within 10 days after
any new Domestic Subsidiary is created or acquired, an updated Schedule 9.2
showing such Domestic Subsidiary;</P>
<P align=justify>(vii) As soon as possible and in any event no later than 10
days following the close of each calendar quarter in which any new Foreign
Subsidiary is created or acquired, an updated Schedule&nbsp;9.2 showing such
Foreign Subsidiary; </P>
<P align=justify>(viii) Promptly upon their becoming available, one copy of each
financial statement, report, notice or proxy statement sent by the Company to
stockholders generally and of each regular or periodic report, registration
statement or prospectus filed by the Company or any Subsidiary with any
securities exchange or the Securities and Exchange Commission or any successor
agency, and copies of any orders in any proceedings to which the Company or any
of its Subsidiaries is a party, issued by any governmental agency, federal or
state, having jurisdiction over the Company or any of its Subsidiaries, which
would reasonably be expected to have a Material Adverse Effect; </P>
<P align=justify>(ix) as soon as available, and in any event within 30&nbsp;days
after the last day of each calendar month, a Borrowing Base Certificate showing
the computation of the Borrowing Base in reasonable detail as of the close of
business on the last day of such month, prepared by the Company and certified to
by its chief financial officer or another executive officer of the Company;
and</P>
<P align=justify>(x) not later than 30&nbsp;days after the first day of each
fiscal year of the Company, a copy of the Company's business plan for such
fiscal year.</P></DIR></DIR>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) Each financial statement furnished to the Banks pursuant to
subsection&nbsp;(i) or (ii) of this Section 12.6 shall be accompanied by
(A)&nbsp;a written certificate signed by the Company's chief financial officer
or another executive officer to the effect that (i)&nbsp;no Default or Event of
Default has occurred during the period covered by such statements or, if any
such Default or Event of Default has occurred during such period, setting forth
a description of such Default or Event of Default and specifying the action, if
any, taken or to be taken by the Company to remedy the same, (ii)&nbsp;the
representations and warranties contained in Section&nbsp;9 hereof are true and
correct in all material respects as though made on the date of such certificate
(other than those representations (x) made solely as of an earlier date, which
need only remain true as of such date (y) contained in Section&nbsp;9.5 or (z)
contained in the last sentence of Section&nbsp;9.4) taking into account any
amendments to such Section (including without limitation any amendments to the
Schedules referenced therein) made after the date of this Agreement in
accordance with its provisions and except as otherwise described therein,
(B)&nbsp;a Compliance Certificate showing the Company's compliance with the
covenants set forth in Sections&nbsp;12.14(k), 12.14(l), 12.15, 12.16, 12.17,
12.18, 12.19, 12.22 and 12.23 hereof and (C) a Foreign Investment List prepared
as of the close of the relevant fiscal quarter.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c) The Company will promptly (and in any event within three
Business Days after a Responsible Officer of the Company has knowledge thereof)
give notice to the Administrative Agent and each Bank:</P>
<P align=center>71</P>
<DIR>
<DIR>
<P align=justify>(i) of the occurrence of any Change of Control Event, Default
or Event of Default;</P>
<P align=justify>(ii) of any default or event of default under any Contractual
Obligation of the Company or any of its Subsidiaries, except for any such
default or event of default which is not reasonably expected to have a Material
Adverse Effect;</P>
<P align=justify>(iii) of any event which has or would reasonably be expected to
have a Material Adverse Effect; </P>
<P align=justify>(iv) of any litigation or governmental proceeding of the type
described in Section&nbsp;9.5 hereof and of any notice of alleged noncompliance
with any laws or regulations of the type described in Section 9.11 hereof which
is reasonably expected to have a Material Adverse Effect; and</P>
<P align=justify>(v) Within 30 days of becoming aware of such occurrence, notice
of any occurrence of the type described in Section 13.1(f) or (g) hereof with
respect to any Subsidiary that is not a Significant Subsidiary.</P></DIR></DIR>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.7. Bank Inspection Rights</I>. Upon
reasonable notice from the Administrative Agent, the Company will permit the
Administrative Agent (and such Persons as the Administrative Agent may
designate) or any Bank during normal business hours to visit and inspect any of
the Properties of the Company or any of its Subsidiaries (such inspections
including the right to conduct field audits of the Collateral), to examine all
of their books of account, records, reports and other papers, to make copies and
extracts therefrom, and to discuss their respective affairs, finances and
accounts with their respective officers, employees and, with the consent of the
Company (which consent shall not be unreasonably withheld), independent public
accountants (and by this provision the Company authorizes such accountants to
discuss with the Banks (and such Persons as any Bank may reasonably designate)
the finances and affairs of the Company and its Subsidiaries) all at such
reasonable times and as often as may be reasonably requested; <I>provided,
however,</I> that except upon the occurrence and during the continuation of any
Default or Event of Default, the Company shall not be liable for the costs and
expenses of such visits and inspections conducted by the Banks or their
designees (excluding the Administrative Agent). Nothing contained in this
Section&nbsp;12.7 shall be construed as an express or implied waiver or
forfeiture by the Company or any Subsidiary of any accountant-client or other
privilege belonging to or accruing to the Company and all information disclosed
to any Bank pursuant to this Section or inspected by any such Bank shall be
subject to the provisions of Section&nbsp;17.23 of this Agreement.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.8. Conduct of Business</I>. Neither the
Company nor any Subsidiary will engage in any line of business if, as a result,
the general nature of the business of the Company and its Subsidiaries taken as
a whole would be substantially changed from that conducted on the date
hereof.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.9. Liens</I>. The Company will not, and will
not permit any of its Subsidiaries to, create, incur, permit to exist or to be
incurred any Lien of any kind on any Property owned by&nbsp;</P>
<P align=center>72</P>
<P align=justify> the Company or any
Subsidiary; <I>provided, however,</I> that this Section&nbsp;12.9 shall not
apply to nor operate to prevent:</P>
<DIR>
<DIR>
<P align=justify>(a) Liens arising by operation of law in connection with
worker's compensation, unemployment insurance, social security obligations,
taxes, assessments, statutory obligations or other similar charges, good faith
deposits, pledges or Liens in connection with bids, tenders, contracts or leases
to which the Company or any Subsidiary is a party (other than contracts for
borrowed money), or other deposits required to be made in the ordinary course of
business; <I>provided</I> that in each case the obligation secured is not more
than 30 days overdue or, if more than 30 days overdue, is being contested in
good faith by appropriate proceedings which prevent enforcement of the matter
under contest and for which reserves in conformity with GAAP have been provided
on the books of the Company; <I>further provided, however</I>, that in no event
is any action taken to foreclose on or repossess or otherwise realize on the
Property subject to such Lien;</P>
<P align=justify>(b) mechanics', workmen's, materialmen's, landlords',
carriers', repairmens' or other similar Liens arising in the ordinary course of
business (or deposits to obtain the release of such Liens) securing obligations
not more than 60 days overdue or, if more than 60 days overdue, being contested
in good faith by appropriate proceedings which prevent enforcement of the matter
under contest and for which reserves in conformity with GAAP have been provided
on the books of the Company; <I>provided, however,</I> that in no event is any
action taken to foreclose on or repossess or otherwise realize on the Property
subject to such Lien;</P>
<P align=justify>(c) Liens for taxes or assessments or other government charges
or levies on the Company or any Subsidiary of the Company or their respective
Properties, not yet due or delinquent, or which can thereafter be paid without
penalty, or which are being contested in good faith by appropriate proceedings
and for which reserves in conformity with GAAP have been provided on the books
of the Company;</P>
<P align=justify>(d) Liens arising out of judgments or awards against the
Company or any Subsidiary of the Company, or in connection with surety or appeal
bonds in connection with bonding such judgments or awards, the time for appeal
from which or petition for rehearing of which shall not have expired or with
respect to which the Company or such Subsidiary shall be prosecuting an appeal
or proceeding for review, and with respect to which it shall have obtained a
stay of execution pending such appeal or proceeding for review; <I>provided</I>
that the aggregate amount of liabilities (including interest and penalties, if
any) of the Company and its Subsidiaries secured by such Liens shall not exceed
$5,000,000 at any one time outstanding;</P>
<P align=justify>(e) Survey exceptions or encumbrances, easements or
reservations, or rights of others for rights-of-way, utilities and other similar
purposes, or rights of lessors or sublessors of real property leased by the
Company or any Subsidiary, or zoning or other restrictions as to the use of real
properties which are necessary for the conduct of the activities of the Company
and any Subsidiary of the Company or which customarily exist&nbsp;</P>
</DIR></DIR>
<P align=center>73</P>
<DIR>
<DIR>
<P align=justify> on properties of
corporations engaged in similar activities and similarly situated and which do
not in any event materially impair their use in the operation of the business of
the Company or any Subsidiary of the Company;</P>
<P align=justify>(f) any Lien existing on any Property (other than receivables
and inventory) prior to the acquisition thereof by the Company or any
Subsidiary, <I>provided</I> that such Lien is not created in contemplation of or
in connection with such acquisition and the aggregate principal amount of
Indebtedness at any time outstanding, secured by such Liens, shall not exceed
$3,000,000;</P>
<P align=justify>(g) Any extension, renewal or replacement (or successive
extensions, renewals or replacements) in whole or in part of any Lien referred
to in the foregoing subsection (f), <I>provided, however,</I> that the principal
amount of Indebtedness secured thereby shall not exceed the principal amount of
Indebtedness so secured at the time of such extension, renewal or replacement,
and that such extension, renewal or replacement shall be limited to the Property
which was subject to the Lien so extended, renewed or replaced; </P>
<P align=justify>(h) Liens on property of the Company or any Subsidiary created
solely (i)&nbsp;in connection with Capitalized Lease Obligations and
(ii)&nbsp;for the purpose of securing indebtedness permitted by
Section&nbsp;12.22(b) hereof, in each case representing or incurred to finance,
refinance or refund the purchase price of Property, provided that no such Lien
shall extend to or cover other Property of the Company or such Subsidiary other
than the respective Property so acquired, and the principal amount of
indebtedness secured by any such Lien shall at no time exceed the original
purchase price of such Property;</P>
<P align=justify>(i) Liens on Property of any Foreign Subsidiary granted in
favor of each third party lender which from time to time extends credit to such
Foreign Subsidiary permitted by Section&nbsp;12.22(f) hereof;</P>
<P align=justify>(j) Liens granted pursuant to the Collateral Documents; </P>
<P align=justify>(k) Liens described on Schedule 12.9 hereof;</P>
<P align=justify>(l) Liens on cash or Permitted Liquid Investments, not to
exceed $15,000,000 in the aggregate, securing reimbursement obligations with
respect to letters of credit having expiration dates later than the Revolving
Credit Termination Date; and</P>
<P align=justify>(m) Liens not otherwise permitted under this Section&nbsp;12.9
on Property (other than receivables and inventory) securing Indebtedness that
does not exceed $1,000,000;</P></DIR></DIR><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
provided, further,</I> that no Lien permitted under subsections
(b), (e), (f) and (g) above may apply to any capital stock of any
Subsidiary.</P>
<P align=center>74</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.10. Use of Proceeds; Regulation&nbsp;U</I>.
The proceeds of the initial Borrowing will refinance the loans under the
Previous Credit Agreement, as more fully described in the recitals of this
Agreement. The proceeds of each Borrowing, and the credit provided by Letters of
Credit, will be used by the Company for working capital, repayment of other
Debt, and other general corporate purposes including Investments permitted by
Section 12.14 hereof. The Company will not use any part of the proceeds of any
of the Borrowings or of the Letters of Credit directly or indirectly to purchase
or carry any margin stock (as defined in Section&nbsp;9.10 hereof) or to extend
credit to others for the purpose of purchasing or carrying any such margin
stock. At no time will margin stock (as defined in Section&nbsp;9.10 hereof)
constitute 25% or more of the assets of the Company or of the Company and its
Subsidiaries, taken as a whole.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.11. Sales and Leasebacks.</I> The Company
will not, nor will it permit any Subsidiary to, enter into any arrangement with
any bank, insurance company or other lender or investor providing for the
leasing by the Company or any such Subsidiary of any Property theretofore owned
by it and which has been or is to be sold or transferred by such owner to such
lender or investor; <I>provided, however,</I> that the foregoing shall not apply
to nor operate to prevent such sale-leaseback arrangements exclusively among two
Foreign Subsidiaries in which the percentage of the Company's direct or indirect
Voting Equity in the buyer-lessor is equal to or greater than the percentage of
the Company's direct or indirect Voting Equity in the seller-lessee.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.12. Mergers, Consolidations and Sales of
Assets</I>. (a)&nbsp;The Company will not, and will not permit any of its
Subsidiaries to, (i)&nbsp;consolidate with or be a party to a merger with any
other Person or (ii)&nbsp;sell, lease or otherwise dispose of all or any of the
Property of the Company and its Subsidiaries; <I>provided, however,</I>
that:</P>
<DIR>
<DIR>
<P align=justify>(1) any Subsidiary of the Company may merge or consolidate with
or into or sell, lease or otherwise convey all or a substantial part of its
assets to the Company, any Wholly-Owned Subsidiary or any Subsidiary of which
the Company or any Wholly-Owned Subsidiary holds at least the same percentage
equity ownership after any such event as it did immediately prior to the
consummation of such event; <I>provided </I>that in any such merger or
consolidation involving the Company, the Company shall be the surviving or
continuing corporation;</P>
<P align=justify>(2) <B><I>[Intentionally Deleted.];</P></B></I>
<P align=justify>(3) the Company or any Subsidiary of the Company may sell or
lease inventory in the ordinary course of business; </P>
<P align=justify>(4) the Company or any Subsidiary of the Company may sell,
transfer, lease, or otherwise dispose of its Property to one another in the
ordinary course of its business; </P>
<P align=justify>(5) the Company or any Subsidiary of the Company may sell
delinquent notes or accounts receivable in the ordinary course of business for
purposes of collection only (and not for the purpose of any bulk sale or
securitization transaction);</P>
</DIR></DIR>
<P align=center>75</P>
<DIR>
<DIR>
<P align=justify>(6) the Company or any Subsidiary of the Company may sell,
transfer, or make other Dispositions of any tangible personal property that, in
the reasonable business judgment of the Company or such Subsidiary, has become
uneconomical, obsolete or worn out, and to the extent such Property is disposed
of in the ordinary course of business and replaced with similar property at
least equal in quality and condition to that so sold, transferred or disposed
and owned by the Company or such Subsidiary free of all Liens other than the
Lien in favor of the Administrative Agent; <I>provided </I>that the aggregate
amount of such property so disposed by the Company and its Subsidiaries (taken
together) in any calendar year does not, when taken together with the aggregate
amount of Property lost, damaged or destroyed during such year as results of
Events of Loss, exceed $15,000,000; and</P>
<P align=justify>(7) the Company or any Subsidiary of the Company may sell,
transfer, lease, or make other Dispositions of Property of the Company or such
Subsidiary aggregating for the Company and its Subsidiaries not more than
$5,000,000 during any 12-month period. </P></DIR></DIR>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) The Company will not sell, transfer or otherwise dispose
of, and will not permit any Subsidiary to issue, sell, transfer or otherwise
dispose of, any shares of stock of any class (including as <I>"stock"</I> for
purposes of this Section, any warrants, rights or options to purchase or
otherwise acquire stock or other securities exchangeable for or convertible into
stock) of any other Credit Party, (v) except to the Company or a Wholly-Owned
Subsidiary of the Company, (w)&nbsp;except for the purpose of qualifying
directors, (x) except for the issuance and sale by the Company or any Subsidiary
of its capital stock to effect an Acquisition permitted by Section&nbsp;12.14(e)
hereof, (y) except for the issuance and sale by the Company or any Subsidiary of
its capital stock in connection with the exercise of employee stock options
granted by the Company or such Subsidiary and (z) except for any such sale or
other disposition not otherwise prohibited by this Section&nbsp;12.12 if the
Company or such other Credit Party fully pays all Loans (if any) made to such
other Credit Party and the Company pays or assumes in a manner acceptable to the
Banks the liability for all L/C Obligations of such other Credit Party (it being
understood and agreed that any Borrowing Subsidiary shall, as provided in
Section&nbsp;5.10(a) hereof, cease to be a Borrower hereunder upon ceasing to be
a Wholly-Owned Subsidiary).</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c) In the event of any merger permitted by proviso&nbsp;(2)
above, the Company shall give the Administrative Agent and the Banks prior
written notice of any such event and, immediately after giving effect to any
such merger, Schedule&nbsp;9.2 of this Agreement shall be deemed amended
excluding reference to any such Subsidiary merged out of existence.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d) So long as (i)&nbsp;no Default or Event of Default has
occurred and is continuing or would arise as a result thereof, the
Administrative Agent shall release its Lien on any Property sold to a third
party pursuant to provisos (4), (5), (6) and (7) above, and (ii)&nbsp;the Loans
and L/C Obligations have not been accelerated and no Event of Default has
occurred and is continuing under Section&nbsp;13.1(f) or 13.1(g) hereof, the
Administrative Agent shall release&nbsp;</P>
<P align=center>76</P>
<P align=justify> its Lien on any Property sold to a third
party pursuant to proviso (3) above. Except to the extent otherwise provided in
the immediately preceding sentence and elsewhere in the Loan Documents, the
Administrative Agent shall not, without the prior written consent or waiver of
each Bank, release in any 12-month period all or any part of the Collateral with
an aggregate fair market value in excess of $3,000,000.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.13. Use of Property and Facilities;
Environmental and Health and Safety Laws</I>. The Company will, and will cause
each of its Subsidiaries to, comply with the requirements of all Environmental
and Health Laws applicable to or pertaining to the Properties or business
operations of the Company or any Subsidiary to the extent that noncompliance
would reasonably be expected to have a Material Adverse Effect. Without limiting
the foregoing, the Company will not, and will not permit any Person to, except
in accordance with applicable law, dispose of any Hazardous Material into, onto
or upon any real property owned or operated by the Company or any of its
Subsidiaries if such disposal would reasonably be expected to have a Material
Adverse Effect.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.14. Investments, Acquisitions, Loans,
Advances and Guaranties</I>. The Company will not, nor will it permit any
Subsidiary to, directly or indirectly, make, retain or have outstanding any
investments (whether through purchase of stock or obligations or otherwise) in,
or loans or advances to, any other Person, or effect any Acquisition, or be or
become liable as endorser, guarantor, surety or otherwise (such as liability as
a general partner) for any debt, obligation or undertaking of any other Person,
or otherwise agree to provide funds for payment of the obligations of another,
or supply funds thereto or invest therein or otherwise assure a creditor of
another against loss, or apply for or become liable to the issuer of a letter of
credit which supports an obligation of another (cumulatively, all of the
foregoing being <I>"Investments"</I>); <I>provided, however,</I> that the
foregoing provisions shall not apply to nor operate to prevent:</P>
<DIR>
<DIR>
<P align=justify>(a) Permitted Liquid Investments;</P>
<P align=justify>(b) ownership of stock, obligations or securities received in
settlement of debts (created in the ordinary course of business) owing to the
Company or any Subsidiary;</P>
<P align=justify>(c) endorsements of negotiable instruments for collection in
the ordinary course of business;</P>
<P align=justify>(d) loans and advances to employees in the ordinary course of
business;</P>
<P align=justify>(e) Acquisitions of all or any part of the assets or business
of any other Person or division thereof engaged in a line of business related to
that of the Company and its Subsidiaries, or of a majority of the Voting Stock
of such a Person, or of equity interests in any partnership, joint venture or
corporation which does not become a Subsidiary as a result of such Acquisition
but is engaged (or promptly after such Acquisition will be engaged) in a line of
business related to that of the Company and its Subsidiaries, provided that
(i)&nbsp;no Default or Event of Default exists or would exist after giving
effect to such Acquisition, (ii)&nbsp;the Board of Directors or other governing
body of such Person whose Property, or Voting Stock or other interests in which,
are being so acquired has approved the terms of such Acquisition, (iii)&nbsp;the
Company can demonstrate that on a proforma basis after giving effect to such
Acquisition it will continue to comply through&nbsp;</P>
</DIR></DIR>
<P align=center>77</P>
<DIR>
<DIR>
<P align=justify> the Revolving Credit Termination
Date and the Term Loan Termination Date with all the terms and conditions of the
Loan Documents, (iv)&nbsp;the numerator of the Senior Leverage Ratio shall, as
of the most recently completed fiscal quarter of the Company (with the Senior
Leverage Ratio calculated on a pro forma basis as if such Acquisition had been
consummated before the end of such fiscal quarter) be at least 0.25 less than
the numerator of the Senior Leverage Ratio required during such period for
compliance with Section&nbsp;12.17(b) hereof, and (v)&nbsp;the Total
Consideration expended by the Company and its Subsidiaries as consideration for
all Acquisitions does not at any time exceed $2,000,000;</P>
<P align=justify>(f) Obligations of Guarantors hereunder;</P>
<P align=justify>(g) Guaranties of the 1998 Senior Subordinated Debt by any
Subsidiary if and so long as such Subsidiary is obligated on a Subsidiary
Guarantee Agreement it has executed and delivered to the Administrative Agent
and such Guaranties are subordinated to the obligations of such Subsidiary under
the Subsidiary Guarantee Agreement on terms and conditions no less favorable to
the Banks than those in effect on the Effective Date;</P>
<P align=justify>(h) Investments (as defined above in this Section) (i) by the
Company or another Credit Party in a joint venture with Neschen AG for the
manufacture and sale of film products provided (A) such Credit Party at all
times maintains at least a 50% equity interest in such joint venture, (B) the
aggregate amount of Investments in such joint venture, when taken together with
the aggregate amount of capital expenditures (if any) made by the Company or any
Subsidiary for such joint venture, does not exceed $5,000,000 on a cumulative
basis on and after September&nbsp;30,&nbsp;1999 and (C)&nbsp;such Investments do
not take the form of Guaranties by any Credit Party, (ii) in Minority Foreign
Investments existing on September&nbsp;30,&nbsp;1999, together with increases
therein arising from equity in undistributed income;</P>
<P align=justify>(i) Investments (as defined above in this Section) in one or
more Subsidiaries and Minority Foreign Investments consisting of trade credit
extended in the ordinary course of business on ordinary terms on an arm's-length
basis to the Company or any Subsidiary or any Minority Foreign Investment to
finance its purchase of goods and services for sale in the ordinary course of
its business;</P>
<P align=justify>(j) Investments (as defined above in this Section) in Credit
Parties in an amount not in excess of the amount of Investments in Credit
Parties (other than the Company) existing on September&nbsp;30,&nbsp;2001;</P>
<P align=justify>(k) Investments (as defined above in this Section) in one or
more Foreign Subsidiaries and Minority Foreign Investments not otherwise
permitted by this Section&nbsp;12.14 provided that such Investments constitute
Permitted Future Foreign Subsidiary Support; and</P>
<P align=justify>(l) Investments (as defined above in this Section) in Foreign
Subsidiaries and Minority Foreign Investments not otherwise permitted by this
Section&nbsp;12.14 in an amount&nbsp;</P>
</DIR></DIR>
<P align=center>78</P>
<DIR>
<DIR>
<P align=justify> not in excess of the amount of Investments
existing on November&nbsp;30,&nbsp;2001 in (i) Foreign Subsidiaries and (ii)
Minority Foreign Investments; and</P>
<P align=justify>(m) Investments (as defined above in this Section) by one
Foreign Subsidiary (other than a Foreign Subsidiary which is a Credit Party) in
another Foreign Subsidiary.</P></DIR></DIR>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In determining the amount of investments, loans, advances and
guarantees permitted under this Section 12.14, Investments (1) shall always be
valued at the net book value thereof (without giving effect to (x) any
subsequent market appreciation or depreciation therein or (y) any non-cash
adjustments), loans and advances shall be taken at the principal amount thereof
then remaining unpaid, and guarantees shall be taken at the amount of
obligations guaranteed thereby and (2) by the Company in a Subsidiary to the
extent such Subsidiary uses the proceeds of such Investments solely to invest in
one or more Foreign Subsidiaries shall be deemed as an Investment by the Company
in such Foreign Subsidiary only and not as an Investment by the Company in such
Subsidiary.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.15. <B>[Intentionally Deleted]</B></I>.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.16. Current Ratio</I>. The Company will at
all times maintain the Consolidated Current Ratio of not less than 1.25 to
1.00.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.17. Leverage
Ratios</I>.&nbsp;&nbsp;(a)&nbsp;<I>Leverage Ratio</I>. The Company shall not, as
of the close of any fiscal quarter of the Company set forth below, permit the
Leverage Ratio to be more than the amount set forth to the right of such closing
date:</P></FONT>
<P align=center>
<CENTER>
<TABLE cellSpacing=0 cellPadding=5 width=378 border=0>

  <TR>
    <TD vAlign=top width="49%"><U><FONT face="Times,Times New Roman">
      <P align=center><br>
      As of Close of</U></FONT></P></TD>
    <TD vAlign=top width="51%"><FONT face="Times,Times New Roman">
      <P align=center>Leverage Ratio Shall<BR><U>Not Be More
    Than</U>:</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="49%"><FONT face="Times,Times New Roman">
      <P align=center>1st fiscal quarter of fiscal year 2002 through 3rd fiscal
      quarter of fiscal year 2002</FONT></P></TD>
    <TD vAlign=top width="51%"><FONT face="Times,Times New Roman">
      <P align=center>5.50 to 1</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="49%"><FONT face="Times,Times New Roman">
      <P align=center>4th fiscal quarter of fiscal year 2002 through 1st fiscal
      quarter of fiscal year 2003</FONT></P></TD>
    <TD vAlign=top width="51%"><FONT face="Times,Times New Roman">
      <P align=center>5.00 to 1</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="49%"><FONT face="Times,Times New Roman">
      <P align=center>2nd fiscal quarter of fiscal year 2003 through 3rd fiscal
      quarter of fiscal year 2003</FONT></P></TD>
    <TD vAlign=top width="51%"><FONT face="Times,Times New Roman">
      <P align=center>4.75 to 1</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="49%"><FONT face="Times,Times New Roman">
      <P align=center>each fiscal quarter<BR>thereafter</FONT></P></TD>
    <TD vAlign=top width="51%"><FONT face="Times,Times New Roman">
      <P align=center>4.25 to 1</FONT></P></TD></TR></TABLE></CENTER>
<FONT face="Times,Times New Roman">
<I>
<P align=justify>&nbsp;&nbsp;&nbsp;</I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)<I> Senior Leverage Ratio</I>;<I>.</I> The Company shall
not, as of the close of any fiscal quarter of the Company set forth below,
permit the Senior Leverage Ratio to be more than the amount set forth to the
right of such closing date:</P>
<P align=center>79</P></FONT>
<P align=center>
<CENTER>
<TABLE cellSpacing=0 cellPadding=5 width=378 border=0>

  <TR>
    <TD vAlign=top width="49%"><U><FONT face="Times,Times New Roman">
      <P align=center><br>
      <br>
      As of Close of</U></FONT></P></TD>
    <TD vAlign=top width="51%"><FONT face="Times,Times New Roman">
      <P align=center>Senior Leverage Ratio<BR>Shall<BR><U>Not Be More
      Than</U>:</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="49%"><FONT face="Times,Times New Roman">
      <P align=center>1st fiscal quarter of fiscal year 2002</FONT></P></TD>
    <TD vAlign=top width="51%"><FONT face="Times,Times New Roman">
      <P align=center>3.75 to 1</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="49%"><FONT face="Times,Times New Roman">
      <P align=center>2nd fiscal quarter of fiscal year 2002 through 3rd fiscal
      quarter of fiscal year 2002</FONT></P></TD>
    <TD vAlign=top width="51%"><FONT face="Times,Times New Roman">
      <P align=center>3.50 to 1</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="49%"><FONT face="Times,Times New Roman">
      <P align=center>4th fiscal quarter of fiscal year 2002</FONT></P></TD>
    <TD vAlign=top width="51%"><FONT face="Times,Times New Roman">
      <P align=center>3.25 to 1</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="49%"><FONT face="Times,Times New Roman">
      <P align=center>1st fiscal quarter of fiscal year 2003</FONT></P></TD>
    <TD vAlign=top width="51%"><FONT face="Times,Times New Roman">
      <P align=center>3.00 to 1</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="49%"><FONT face="Times,Times New Roman">
      <P align=center>2nd fiscal quarter of fiscal year 2003 through 3rd fiscal
      quarter of fiscal year 2003</FONT></P></TD>
    <TD vAlign=top width="51%"><FONT face="Times,Times New Roman">
      <P align=center>2.75 to 1</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="49%"><FONT face="Times,Times New Roman">
      <P align=center>each fiscal quarter<BR>thereafter</FONT></P></TD>
    <TD vAlign=top width="51%"><FONT face="Times,Times New Roman">
      <P align=center>2.50 to 1</FONT></P></TD></TR></TABLE></CENTER>
<FONT face="Times,Times New Roman">
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.18. Interest Coverage Ratio.</I> The Company
shall not, as of the close of any fiscal quarter of the Company commencing with
the fiscal quarter ending December&nbsp;31, 2001 and continuing for each fiscal
quarter thereafter, permit the Interest Coverage Ratio to be less than 1.50 to
1.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.19. Minimum Consolidated EBITDA</I>. As of
the last day of each fiscal quarter of the Company below, the Company shall not
permit Consolidated EBITDA for the most recent four fiscal quarters to be less
than the amount set forth below: </P></FONT>
<P align=center>
<CENTER>
<TABLE cellSpacing=0 cellPadding=5 width=378 border=0>

  <TR>
    <TD vAlign=top width="49%"><U><FONT face="Times,Times New Roman">
      <P align=center><br>
      <br>
      As of Close of</U></FONT></P></TD>
    <TD vAlign=top width="51%"><FONT face="Times,Times New Roman">
      <P align=center>Consolidated<BR>EBITDA Shall<BR><U>Not Be Less
      Than</U>:</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="49%"><FONT face="Times,Times New Roman">
      <P align=center>4th fiscal quarter of <BR>fiscal year 2001 through 3rd
      fiscal quarter of fiscal year 2002</FONT></P></TD>
    <TD vAlign=top width="51%"><FONT face="Times,Times New Roman">
      <P align=center>$70,000,000</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="49%"><FONT face="Times,Times New Roman">
      <P align=center>each fiscal quarter thereafter</FONT></P></TD>
    <TD vAlign=top width="51%"><FONT face="Times,Times New Roman">
      <P align=center>$75,000,000</FONT></P></TD></TR></TABLE></CENTER>
<FONT face="Times,Times New Roman">
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.20. Dividends and Other Restricted
Payments</I>. The Company shall not, nor shall it permit any Subsidiary to,
(i)&nbsp;declare or pay any dividends on or make any other&nbsp;</P>
<P align=center>80</P>
<P align=justify> distributions in
respect of any class or series of its capital stock or any other equity interest
(other than dividends payable solely in its capital stock) or (ii)&nbsp;directly
or indirectly purchase, redeem or otherwise acquire or retire any of its capital
stock or any other equity interest or (iii) prepay any Indebtedness (other than
the prepayment of the Loans and L/C Obligations in accordance with Section 5.4
hereof and the effecting of any redemption of such Loans) (such non-excepted
dividends, distributions, purchases, redemptions, acquisitions, prepayments and
retirements being hereinafter collectively called <I>"Restricted Payments"</I>);
<I>provided, however,</I> that the foregoing shall not apply to or operate to
prevent (x) the making of dividends or distributions by any Subsidiary to the
Company or any other Subsidiary (<I>provided</I> that Domestic Subsidiaries may
not make dividends or distributions to Foreign Subsidiaries) and (y) any
Restricted Payments made in any fiscal year of the Company in the form of
treasury stock repurchases by the Company to acquire its capital stock to the
extent necessary to cover bona fide employee stock options granted in the
ordinary course of business if and to the extent that at the time each such
Restricted Payment is made and after giving effect thereto, no Default or Event
of Default shall occur or be continuing.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.21. Company as Domestic Operation</I>.
Notwithstanding Sections 12.12 and 12.14 or any other provision of this
Agreement, the assets owned directly by the Company and its Wholly-Owned
Subsidiaries which are Domestic Subsidiaries (without regard to their ownership
of equity interests in Subsidiaries) shall at all times constitute the majority
of the total consolidated assets of the Company and its Subsidiaries.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.22. Indebtedness</I>. The Company shall not,
nor shall it permit any Subsidiary to, issue, incur, assume, create or have
outstanding any Indebtedness; <I>provided, however,</I> that the foregoing shall
not restrict nor operate to prevent:</P>
<DIR>
<DIR>
<P align=justify>(a) the Obligations of each Borrower owing to the
Administrative Agent and the Banks hereunder;</P>
<P align=justify>(b) purchase money indebtedness and Capitalized Lease
Obligations of the Company and of its Subsidiaries in an aggregate amount not to
exceed $5,000,000 at any one time outstanding;</P>
<P align=justify>(c) Obligations of each Borrower arising out of Hedging
Arrangements in the ordinary course of business for bona fide hedging purposes
and not for any speculative purposes;</P>
<P align=justify>(d) guaranties expressly permitted by Section&nbsp;12.14
hereof;</P>
<P align=justify>(e) intercompany indebtedness from time to time owing by the
Company and its Subsidiaries as a result of intercompany loans and advances from
the Company and its Subsidiaries permitted by Section&nbsp;12.14 hereof;</P>
<P align=justify>(f) Indebtedness of each Foreign Subsidiary representing credit
extended by third party lenders to such Foreign Subsidiary to finance its
operating needs in the ordinary course of business provided (i)&nbsp;the U.S.
Dollar Equivalent of the aggregate&nbsp;</P>
</DIR></DIR>
<P align=center>81</P>
<DIR>
<DIR>
<P align=justify> principal amount of such credit as is
outstanding as of<B> </B>the Effective Date does not exceed $14,500,000 and
(ii)&nbsp;all other credit extended, including without limitation credit
refinancing the amounts described in the immediately preceding clause (f)(i),
constitutes Permitted Future Foreign Subsidiary Support;</P>
<P align=justify>(g) [<B>Intentionally Deleted]</B>;</P>
<P align=justify>(h) other Indebtedness existing on the date of this Agreement
and described on Schedule&nbsp;12.22 attached hereto and made a part hereof,
including extensions, renewals and refinancings thereof from time to time (but
excluding in any event any increase in the principal amount thereof); and</P>
<P align=justify>(i) other indebtedness of the Company and its Subsidiaries not
otherwise permitted by this Section in an aggregate amount not to exceed
$3,000,000 at any one time outstanding.</P></DIR></DIR>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.23. Consolidated Capital Expenditures</I>.
The Company shall not permit, during each period of time specified in the
immediately following sentence, the aggregate Consolidated Capital Expenditures
for the Company and its Subsidiaries to exceed the Maximum Permitted Amount for
such period. For purposes of this Section&nbsp;12.23 <I>"Maximum Permitted
Amount"</I> shall mean (i)&nbsp; $20,000,000 (such amount to include the amount
of any capital expenditures made as described in subparagraph (i) of the
definition of <I>"Permitted Future Foreign Subsidiary Support")</I> during the
fiscal year of the Company ending on or about December&nbsp;31, 2002 and
(ii)&nbsp;$25,000,000 (such amount to include the amount of any capital
expenditures made as described in subparagraph (i) of the definition of
<I>"Permitted Future Foreign Subsidiary Support")</I> during each fiscal year
thereafter.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.24. No Restrictions on Subsidiary
Distributions</I>. Except as provided herein, the Company shall not, nor shall
it permit any Subsidiary to, directly or indirectly create or otherwise cause or
suffer to exist or become effective any consensual encumbrance or restriction of
any kind on the ability of the Company or any Subsidiary to: (a)&nbsp;guarantee
the Obligations and the Hedging Liability; (b) grant Liens on its assets to the
Administrative Agent for the benefit of the Administrative Agent, the Banks,
certain Affiliates of the Banks and the Issuing Agents, as required by
Section&nbsp;7 hereof; (c)&nbsp;in the case of any Subsidiary, pay dividends or
make any other distribution on any of such Subsidiary's capital stock or other
equity interests owned by the Company or any Subsidiary; (d)&nbsp;pay any
indebtedness owed to the Company or any Subsidiary; (e)&nbsp;make loans or
advances to the Company or any Subsidiary; or (f)&nbsp;transfer any of its
property or assets to the Company or any Subsidiary; <I>provided, however</I>,
the foregoing shall not apply to (i) restrictions or conditions imposed by any
agreement relating to secured Indebtedness permitted by this Agreement if such
restrictions or conditions apply only to the property or assets securing such
Indebtedness, (ii) customary provisions in leases and other contracts
restricting the assignment thereof, (iii) restrictions or conditions imposed by
the Indenture described in the definition hereunder of 1998 Senior Subordinated
Debt, (iv)&nbsp;restrictions and conditions imposed by the Stock Purchase
Agreement dated as of October&nbsp;17, 1997 among the Company and
Dr.&nbsp;U.&nbsp;Wolfensberger relating to the Company's acquisition of Ibico AG
and (v) customary&nbsp;</P>
<P align=center>82</P>
<P align=justify> provisions in overseas financing arrangements by Foreign
Subsidiaries which are not Credit Parties.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.25. Transactions with Affiliates</I>. Except
as disclosed in the Company's periodic reports to the Securities and Exchange
Commission prior to the date hereof, the Company will not, and will not permit
any of its Subsidiaries to, enter into or be a party to any material transaction
or arrangement (where <I>"material"</I> means material for the Company and its
Subsidiaries taken as a whole) with any Affiliate of such Person (other than the
Company or any of its Subsidiaries), including without limitation, the purchase
from, sale to or exchange of Property with, any merger or consolidation with or
into, or the rendering of any service by or for, any Affiliate, and except in
the ordinary course of and pursuant to the reasonable requirements of the
Company's or such Subsidiary's business and upon fair and reasonable terms no
less favorable to the Company or such Subsidiary than would obtain in a
comparable arm's-length transaction with a Person other than an Affiliate to the
extent that any such transaction or arrangement would have a Material Adverse
Effect.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.26. Compliance with Laws</I>. Without
limiting any of the other covenants of the Company in this Section&nbsp;12, the
Company will, and will cause each of its Subsidiaries to, conduct its business,
and otherwise be, in compliance with all applicable laws, regulations,
ordinances and orders of any governmental or judicial authorities; <I>provided,
however,</I> that neither the Company nor any Subsidiary of the Company shall be
required to comply with any such law, regulation, ordinance or order if
(x)&nbsp;it shall be contesting such law, regulation, ordinance or order in good
faith by appropriate proceedings and reserves in conformity with GAAP have been
provided therefor on the books of the Company or such Subsidiary, as the case
may be, or (y)&nbsp;the failure to comply therewith is not reasonably expected
to have a Material Adverse Effect.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.27. Subordinated Indebtedness.</I> The Company
shall not, and shall not permit any Subsidiary to:</P>
<DIR>
<DIR>
<P align=justify>(a) make any voluntary prepayment on, or effect any voluntary
redemption of, any Subordinated Debt; or</P>
<P align=justify>(b) make any other payment on account of any Subordinated Debt
which is prohibited under the terms of any instrument or agreement subordinating
such indebtedness to the prior payment of any Obligations; or</P>
<P align=justify>(c) increase or (except to reduce to a lower fixed rate) amend
the interest rate applicable to, or shorten the scheduled amortization or final
maturity of, any Subordinated Debt.</P></DIR></DIR>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;12.28. European Monetary Union.</I>
(a)&nbsp;If, as a result of the EMU Commencement, (i)&nbsp;any Alternative
Currency ceases to be lawful currency of the state issuing the same and is
replaced by Euros or (ii)&nbsp;any Alternative Currency and Euros are at the
same time both recognized by the central bank or comparable governmental
authority of the state issuing such currency as lawful currency of such state,
then any amount payable hereunder by any party hereto in such Alternative
Currency (including, without limitation, any Loan to be made under this&nbsp;</P>
<P align=center>83</P>
<P align=justify>
Agreement) shall instead be payable in Euros and the amount so payable shall be
determined by redenominating or converting such amount into Euros at the
exchange rate officially fixed by the European Central Bank for the purpose of
implementing the EMU, <I>provided,</I> that to the extent any EMU Legislation
provides that an amount denominated either in Euros or in the applicable
Alternative Currency can be paid either in Euros or in the applicable
Alternative Currency, each party to this Agreement shall be entitled to pay or
repay such amount in Euros or in the applicable Alternative Currency. Prior to
the occurrence of the event or events described in clause&nbsp;(i) or (ii) of
the preceding sentence, each amount payable hereunder in any such Alternative
Currency will, except as otherwise provided herein, continue to be payable only
in that Alternative Currency.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) The Company (acting on behalf of the Borrowers) shall from
time to time, at the request of the Administrative Agent, pay to the
Administrative Agent for the account of each Bank the amount of any cost or
increased cost incurred by, or of any reduction in any amount payable to or in
the effective return on its capital to, or of interest or other return foregone
by, such Bank or any holding company of such Bank as a result of the
introduction of, changeover to or operation of Euros in any applicable state to
the extent reasonably attributable to such Bank's obligations hereunder or for
the credit which is the subject matter hereof; <I>provided, however,</I> that
(a) such Bank shall promptly notify the Company of an event which might cause it
to seek compensation, and the Company shall be obligated to pay only such
compensation which is incurred or which arises after the date ninety (90) days
prior to the date such notice is given and (b)&nbsp;such Bank shall not be
entitled to make such a claim for compensation if the Bank has not generally
been making claims for compensation under similar circumstances from other
borrowers similarly situated under loan agreements with provisions comparable to
this Section entitling the Bank to make such a claim. In the event any
circumstance arises by virtue of which a Bank is determined to be entitled to a
refund for any amount or amounts which were paid or reimbursed by the Company to
such Bank hereunder, such Bank shall refund such amount or amounts to the
Company without interest. Each Bank that determines to seek compensation under
this Section&nbsp;12.28(b) shall notify the Company and the Administrative Agent
of the circumstances that entitle the Bank to such compensation pursuant to this
Section&nbsp;12.28(b) and will designate a different Lending Office if such
designation will avoid the need for, or reduce the amount of, such compensation
and will not, in the judgment of such Bank, be otherwise impractical or
disadvantageous in any material respect to such Bank. A certificate of any Bank
claiming compensation under this Section&nbsp;12.28(b) and setting forth the
additional amount or amounts to be paid to it hereunder shall be conclusive in
the absence of demonstrable error. In determining such amount, such Bank may use
any reasonable averaging and attribution methods. The protection of this
Section&nbsp;12.28(b) shall be available to each Bank regardless of any possible
contention of the invalidity or inapplicability of any law, regulation or other
condition which shall give rise to any demand by such Bank for compensation.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c) With respect to the payment of any amount denominated in
Euros or in any Alternative Currency, the Administrative Agent shall not be
liable to the Company (acting on behalf of the Borrowers) or any of the Banks in
any way whatsoever for any delay, or the consequences of any delay, in the
crediting to any account of any amount required by this Agreement to be paid by
the Administrative Agent if the Administrative Agent shall have taken all
relevant steps to achieve, on the date required by this Agreement, the payment
of such amount&nbsp;</P>
<P align=center>84</P>
<P align=justify> in immediately available, freely transferable, cleared funds (in
the Euro Unit or, as the case may be, in any Alternative Currency) to the
account with the bank in the principal financial center in the Euro Member which
the Company (acting on behalf of the Borrowers) or, as the case may be, any Bank
shall have specified for such purpose. In this paragraph&nbsp;(c), "all relevant
steps" means all such steps as may be prescribed from time to time by the
regulations or operating procedures of such clearing or settlement system as the
Administrative Agent may from time to time determine for the purpose of clearing
or settling payments of Euros.&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d) If the basis of accrual of interest or fees expressed in
this Agreement with respect to the currency of any state that becomes a Euro
Member shall be inconsistent with any convention or practice in the London
interbank market for the basis of accrual of interest or fees in respect of
Euros, such convention or practice shall replace such expressed basis effective
as of and from the date on which such state becomes a Euro Member;
<I>provided,</I> that if any Loan in the currency of such state is outstanding
immediately prior to such date, such replacement shall take effect, with respect
to such Loan, at the end of the then current Interest Period.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e) In addition, the Company (acting on behalf of the
Borrowers) and the Administrative Agent shall enter into negotiations in good
faith, if and to the extent necessary, to amend this Agreement (including,
without limitation, the definition of Eurocurrency Loan) to reflect such EMU
Commencement and change in currency and to put the Banks and the Borrowers in
the same position, so far as possible, that they would have been in if such
implementation and change in currency had not occurred. The parties hereto
acknowledge and agree that if, within sixty (60) days of the commencement of
such negotiations, the Company (acting on behalf of the Borrowers) and the
Administrative Agent fail to reach agreement regarding any such amendments, then
the provisions of Section&nbsp;14.2 hereof shall be deemed operative and, until
such an agreement is reached, the obligations of the Banks to make Eurocurrency
Loans in Euros or any other Alternative Currency issued by a Euro Member shall
be suspended. Except as provided in the foregoing provisions of this
Section&nbsp;12.28, no such implementation or change in currency nor any
economic consequences resulting therefrom shall (i)&nbsp;give rise to any right
to terminate prematurely, contest, cancel, rescind, alter, modify or renegotiate
the provisions of this Agreement or (ii)&nbsp;discharge, excuse or otherwise
affect the performance of any obligations of the Borrowers under this Agreement,
any Notes or any other Loan Documents.</P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section 12.29. No Changes in Fiscal Year</I>. The Company shall
not, nor shall it permit any Subsidiary to, change its fiscal year from its
present basis.</P>
<P>Section 13. Events of Default and Remedies.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;13.1. Events of Default</I>. Any one or more of
the following shall constitute an Event of Default:</P>
<DIR>
<DIR>
<P align=justify>(a) default (x)&nbsp;in the payment when due of the principal
amount of any Loan or of any Reimbursement Obligation or (y)&nbsp;for a period
of five (5) days in the payment when due of interest or the fees payable under
Section 6 hereof or (z) for a period of ten (10) days in the payment when due of
any other Obligation;</P>
</DIR></DIR>
<P align=center>85</P>
<DIR>
<DIR>
<P align=justify>(b) default by the Company or any Subsidiary in the observance
or performance of any covenant set forth in Sections&nbsp;12.1, 12.6(c)(i), 12.9
through 12.12 or 12.14 through 12.25 hereof or of any provision in any Loan
Document dealing with the use, disposition or remittance of the proceeds of
Collateral or requiring the maintenance of insurance thereon;</P>
<P align=justify>(c) default by the Company or any Subsidiary in the observance
or performance of any provision hereof or of any other Loan Document not
mentioned in (a) or (b) above, which is not remedied within thirty (30) days
after notice thereof to the Company by the Administrative Agent;</P>
<P align=justify>(d) (i)&nbsp;failure to pay when due Debt of the Company or any
Subsidiary in an aggregate principal amount of $10,000,000 or more for the
Company and its Subsidiaries, taken together, or (ii)&nbsp;default shall occur
under one or more indentures, agreements or other instruments under which any
Debt of the Company or any Subsidiary in an aggregate principal amount of
$10,000,000 or more for the Company and its Subsidiaries, taken together, may be
issued or created and such default shall continue for a period of time
sufficient to permit the holder or beneficiary of such Debt or a trustee
therefor to cause the acceleration of the maturity of any such Debt or any
mandatory unscheduled prepayment, purchase or funding thereof;</P>
<P align=justify>(e) any representation or warranty made herein or in any other
Loan Document by the Company or any Subsidiary, or in any statement or
certificate furnished pursuant hereto or pursuant to any other Loan Document by
the Company or any Subsidiary, or in connection with any Loan Document, proves
untrue in any material respect as of the date of the issuance or making, or
deemed making or issuance, thereof;</P>
</DIR></DIR>
<P align=center>86</P>
<DIR>
<DIR>
<P align=justify>(f) the Company or any Significant Subsidiary shall
(i)&nbsp;have entered involuntarily against it an order for relief under the
United States Bankruptcy Code, as amended, or any analogous action is taken
under any other applicable law of any country or any political subdivision
thereof in each case relating to bankruptcy or insolvency, (ii)&nbsp;fail to
pay, or admit in writing its inability to pay, its debts generally as they
become due, (iii)&nbsp;make an assignment for the benefit of creditors,
(iv)&nbsp;apply for, seek, consent to, or acquiesce in, the appointment of a
receiver, custodian, trustee, examiner, liquidator or similar official for it or
any substantial part of its Property, (v)&nbsp;institute any proceeding seeking
to have entered against it an order for relief under the United States
Bankruptcy Code, as amended, or any analogous law of any country or any
political subdivision thereof in each case to adjudicate it insolvent, or
seeking dissolution, winding up, liquidation, reorganization, arrangement,
adjustment or composition of it or its debts under any law relating to
bankruptcy, insolvency or reorganization or relief of debtors or fail to file an
answer or other pleading denying the material allegations of any such proceeding
filed against it, (vi)&nbsp;take any corporate action (such as the passage by
the Company's board of directors of a resolution) authorizing any matter
described in parts&nbsp;(i)-(v) above, or (vii)&nbsp;fail to contest in good
faith any appointment or proceeding described in Section&nbsp;13.1(g)
hereof;</P>
<P align=justify>(g) a custodian, receiver, trustee, examiner, liquidator or
similar official shall be appointed for the Company or any Significant
Subsidiary or any substantial part of any of their Property, or a proceeding
described in Section&nbsp;13.1(f)(v) shall be instituted against the Company or
any Significant Subsidiary, and such appointment continues undischarged or such
proceeding continues undismissed or unstayed for a period of forty-five
(45)&nbsp;days;</P>
<P align=justify>(h) the Company or any Subsidiary shall fail within thirty (30)
days to pay, bond or otherwise discharge any judgment or order for the payment
of money (i) in an aggregate amount for the Company and its Subsidiaries, taken
together, equal to or greater than $10,000,000 in excess of the amount covered
by insurance from an insurer who has acknowledged its liability thereon and (ii)
not stayed on appeal or otherwise being appropriately contested in good faith in
a manner that stays execution thereon;</P>
<P align=justify>(i) the Company or any other member of the Controlled Group
shall fail to pay when due an amount or amounts aggregating in excess of
$10,000,000 which it shall have become liable to pay to the PBGC or to a Plan
under Title IV of ERISA; or notice of intent to terminate a Plan or Plans having
aggregate Unfunded Vested Liabilities in excess of $10,000,000 (collectively, a
<I>"Material Plan"</I>) shall be filed under Title&nbsp;IV of ERISA by the
Company or any Subsidiary or any other member of the Controlled Group, any plan
administrator or any combination of the foregoing; or the PBGC shall institute
proceedings under Title IV of ERISA to terminate or to cause a trustee to be
appointed to administer any Material Plan or a proceeding shall be instituted by
a fiduciary of any Material Plan against the Company or any other member of the
Controlled Group to enforce Section&nbsp;515 or 4219(c)(5) of ERISA and such
proceeding shall not have been dismissed within thirty (30) days thereafter; or
a condition shall exist by reason of which the PBGC would be entitled to obtain
a decree adjudicating that any Material Plan must be terminated;</P>
<P align=justify>(j) the Company or any Subsidiary, or any Person acting on
behalf of the Company or a Subsidiary, or any governmental authority challenges
the validity of any Loan Document or the Company's or a Subsidiary's obligations
thereunder or any Loan Document ceases to be in full force and effect (other
than by reason of action taken by the Administrative Agent or the Banks); or
</P>
<P align=justify>(k) a Change of Control Event shall occur.</P></DIR></DIR>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;13.2. Non-Bankruptcy Defaults</I>. When any
Event of Default other than those described in subsections&nbsp;(f) or (g) of
Section&nbsp;13.1 hereof has occurred and is continuing, the Administrative
Agent shall, by written notice to the Company: (a)&nbsp;if so directed by the
Required Banks, terminate the remaining Commitments and all other obligations of
the Banks hereunder on the date stated in such notice (which may be the date
thereof); (b)&nbsp;if so directed by the Required Banks, declare the principal
of and the accrued interest on all outstanding Notes to be forthwith due and
payable and thereupon all outstanding Notes, including both principal and
interest thereon, shall be and become immediately due and payable together with
all other amounts payable under the Loan Documents without further demand,
presentment, protest or&nbsp;</P>
<P align=center>87</P>
<P align=justify> notice of any kind; and (c)&nbsp;if so directed by the
Required Banks, demand that the Company and (subject to Section 17.19) the other
Borrowers immediately pay to the Administrative Agent, subject to Section 13.4,
the full amount then available for drawing under each or any Letter of Credit,
and the Company and such Borrowers agree to immediately make such payment and
acknowledge and agree that the Banks would not have an adequate remedy at law
for failure by the Company and such Borrowers to honor any such demand and that
the Administrative Agent, for the benefit of the Banks, shall have the right to
require the Company and such Borrowers to specifically perform such undertaking
whether or not any drawings or other demands for payment have been made under
any Letter of Credit. The Administrative Agent, after giving notice to the
Company pursuant to Section&nbsp;13.1(c) or this Section&nbsp;13.2, shall also
promptly send a copy of such notice to the other Banks, but the failure to do so
shall not impair or annul the effect of such notice.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;13.3. Bankruptcy Defaults</I>. When any Event
of Default described in subsections&nbsp;(f) or (g) of Section&nbsp;13.1 hereof
has occurred and is continuing, then all outstanding Notes shall immediately
become due and payable together with all other amounts payable under the Loan
Documents without presentment, demand, protest or notice of any kind, the
obligation of the Banks to extend further credit pursuant to any of the terms
hereof shall immediately terminate and the Company and (subject to Section
17.19) the other Borrowers shall immediately pay to the Administrative Agent,
subject to Section 13.4, the full amount then available for drawing under all
outstanding Letters of Credit, the Company and such Borrowers acknowledging that
the Banks would not have an adequate remedy at law for failure by the Company
and such Borrowers to honor any such demand and that the Banks, and the
Administrative Agent on their behalf, shall have the right to require the
Company and such Borrowers to specifically perform such undertaking whether or
not any draws or other demands for payment have been made under any of the
Letters of Credit.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;13.4. Collateral for Undrawn Letters of
Credit</I>. (a)&nbsp;If the payment or prepayment of the amount available for
drawing under any or all outstanding Letters of Credit is required under
Section&nbsp;1.3(d) or Section&nbsp;5.4(c) or under Section&nbsp;13.2 or 13.3
above, the Company and (subject to Section 17.19) the other Borrowers shall
forthwith pay the amount required to be so prepaid, to be held by the
Administrative Agent as provided in subsection&nbsp;(b) below.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) All amounts prepaid pursuant to subsection&nbsp;(a) above
shall be held by the Administrative Agent in a separate collateral account (such
account, and the credit balances, properties and any investments from time to
time held therein, and any substitutions for such account, any certificate of
deposit or other instrument evidencing any of the foregoing and all proceeds of
and earnings on any of the foregoing being collectively called the
<I>"Account"</I>) as security for, and for application by the Administrative
Agent (to the extent available) to, the reimbursement of any payment under any
Letter of Credit then or thereafter made by an Issuing Agent, and thereafter to
the payment of the unpaid balance of any Loans and all other Obligations. The
Account shall be held in the name of and subject to the exclusive dominion and
control of the Administrative Agent for the benefit of the Administrative Agent
and the Banks. If and when requested by the Company, the Administrative Agent
shall invest funds held in the Account from time to time in direct obligations
of, or obligations the principal of and interest on which are unconditionally
guaranteed by, the United States of America with a remaining maturity&nbsp;</P>
<P align=center>88</P>
<P align=justify> of one
year or less, <I>provided</I> that the Administrative Agent is irrevocably
authorized to sell investments held in the Account when and as required to make
payments out of the Account for application to Obligations then due and owing;
<I>provided, however,</I> that if (i)&nbsp;all the obligations referred to in
subsection&nbsp;(a) above shall have been paid and (ii)&nbsp;no Letters of
Credit, Commitments, Loans or other Obligations remain outstanding hereunder,
then the Administrative Agent shall repay to the Company any remaining amounts
held in the Account.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;13.5. Notice of Default</I>. The Administrative
Agent shall give notice to the Company under Section&nbsp;13.1(c) hereof
promptly upon being requested to do so by any Bank and shall thereupon notify
all the Banks thereof.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;13.6. Expenses</I>. The Company and (subject to
Section 17.19 hereof) the other Borrowers agree to pay to the Administrative
Agent and each Bank, and any other holder of any Note outstanding hereunder, all
reasonable out-of-pocket expenses incurred or paid by the Administrative Agent
and such Bank or any such holder, including reasonable attorneys' fees (which in
any event may include allocated costs of in-house counsel) and court costs, in
connection with any Default or Event of Default or in connection with the
enforcement of any of the Loan Documents.</P>
<P>Section 14. Change in Circumstances.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;14.1. Change of Law</I>. Notwithstanding any
other provisions of this Agreement or any Note, if at any time after the date
hereof any change in applicable law or regulation or in the interpretation
thereof makes it unlawful for any Bank to make or continue to maintain
Eurocurrency Loans or to perform its obligations as contemplated hereby, such
Bank shall promptly give notice thereof to the Company (with a copy to the
Administrative Agent) and such Bank's obligations to make or maintain
Eurocurrency Loans under this Agreement shall terminate until it is no longer
unlawful for such Bank to make or maintain Eurocurrency Loans. The Company and
(subject to Section 17.19) the other Borrowers shall prepay on demand the
outstanding principal amount of any such affected Eurocurrency Loans, together
with all interest accrued thereon at a rate per annum equal to the interest rate
applicable to such Loan; <I>provided, however,</I> subject to all of the terms
and conditions of this Agreement, the Company or applicable Borrower may then
elect to borrow the principal amount of the affected Eurocurrency Loans from
such Bank by means of Domestic Rate Loans from such Bank, which Domestic Rate
Loans shall not be made ratably by the Banks but only from such affected
Bank.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;14.2. Unavailability of Deposits or Inability
to Ascertain, or Inadequacy of, LIBOR</I>. If on or prior to the first day of
any Interest Period for any Borrowing of Eurocurrency Loans:</P>
<DIR>
<DIR>
<P align=justify>(a) the Administrative Agent (or in the case of a Multicurrency
Swing Line Loan, the Multicurrency Swing Line Bank) determines that deposits in
U.S. Dollars or the applicable Alternative Currency (in the applicable amounts)
are not being offered to it in the eurocurrency interbank market for such
Interest Period, or that by reason of circumstances affecting the interbank
eurocurrency market adequate and reasonable means do not exist for ascertaining
the applicable LIBOR, or</P>
</DIR></DIR>
<P align=center>89</P>
<DIR>
<DIR>
<P align=justify>(b) Banks having 25% or more of the aggregate amount of the
Revolving Credit Commitments and the Term Loans reasonably determine and so
advise the Administrative Agent that LIBOR as reasonably determined by the
Administrative Agent will not adequately and fairly reflect the cost to such
Banks of funding their Eurocurrency Loans for such Interest Period,
</P></DIR></DIR>
<P align=justify>then the Administrative Agent shall forthwith give notice
thereof to the Company and the Banks, whereupon until the Administrative Agent
notifies the Company that the circumstances giving rise to such suspension no
longer exist, the obligations of the Banks to make Eurocurrency Loans in the
currency so affected shall be suspended.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;14.3. Increased Cost and Reduced Return</I>.
(a)&nbsp;If, on or after the date hereof, the adoption of any applicable law,
rule or regulation, or any change therein, or any change in the interpretation
or administration thereof by any governmental authority, central bank or
comparable agency charged with the interpretation or administration thereof, or
compliance by any Bank (or its Lending Office), including (if applicable) in its
capacity as an Issuing Agent or Swing Line Bank hereunder, with any request or
directive (whether or not having the force of law but, if not having the force
of law, compliance with which is customary in the relevant jurisdiction) of any
such authority, central bank or comparable agency:</P>
<DIR>
<DIR>
<P align=justify>(i) shall subject any Bank (or its Lending Office) to any tax,
duty or other charge with respect to its Fixed Rate Loans, its Notes, its
Letter(s) of Credit, or its participation in any thereof, any Reimbursement
Obligations owed to it or its obligation to make Fixed Rate Loans, issue a
Letter of Credit, or to participate therein, or shall change the basis of
taxation of payments to any Bank (or its Lending Office) of the principal of or
interest on its Fixed Rate Loans, Letter(s) of Credit, or participations therein
or any other amounts due under this Agreement in respect of its Fixed Rate
Loans, Letter(s) of Credit, or participations therein, any Reimbursement
Obligations owed to it, or its obligation to make Fixed Rate Loans, issue a
Letter of Credit, or acquire participations therein (except for changes in the
tax on the overall net income or profits of such Bank or its Lending Office
imposed by the jurisdiction in which such Bank or its Lending Office is
incorporated or in which such Bank's principal executive office or Lending
Office is located); or</P>
<P align=justify>(ii) shall impose, modify or deem applicable any reserve,
special deposit or similar requirement (including, without limitation, any such
requirement imposed by the Board of Governors of the Federal Reserve System or
with respect to Obligations denominated in Pound Sterling, the Bank of England,
but excluding with respect to any Eurocurrency Loans any such requirement to the
extent such Bank has already been compensated pursuant to the second paragraph
of Section&nbsp;2.1(b) hereof) against assets of, deposits with or for the
account of, or credit extended by, any Bank (or its Lending Office) or shall
impose on any Bank (or its Lending Office) or on the interbank market any other
condition affecting its Fixed Rate Loans, its Notes, its Letter(s) of Credit, or
its participation in any thereof, any Reimbursement Obligation owed to it, or
its obligation to make Fixed Rate Loans, to issue a Letter of Credit, or to
participate therein;</P></DIR></DIR>
<P align=center>90</P>
<P align=justify>and the result of any of the foregoing is to increase the cost
to such Bank (or its Lending Office) of making or maintaining any Fixed Rate
Loan, issuing or maintaining a Letter of Credit, or participating therein, or to
reduce the amount of any sum received or receivable by such Bank (or its Lending
Office) under this Agreement or under its Notes with respect thereto, by an
amount deemed by such Bank to be material, then, within fifteen (15) days after
demand by such Bank (with a copy to the Administrative Agent), the Company and
(subject to Section 17.19 hereof) the other Borrowers shall be jointly and
severally obligated to pay to such Bank such additional amount or amounts as
will compensate such Bank for such increased cost or reduction; <I>provided,
however,</I> that (a) such Bank shall promptly notify the Company of an event
which might cause it to seek compensation, and the Company shall be obligated to
pay only such compensation which is incurred or which arises after the date
ninety (90) days prior to the date such notice is given and (b)&nbsp;such Bank
shall not be entitled to make such a claim for compensation if the Bank has not
generally been making claims for compensation under similar circumstances from
other borrowers similarly situated under loan agreements with provisions
comparable to this Section entitling the Bank to make such a claim. In the event
any law, rule, regulation or interpretation described above is revoked, declared
invalid or inapplicable or is otherwise rescinded, and as a result thereof a
Bank is determined to be entitled to a refund from the applicable authority for
any amount or amounts which were paid or reimbursed by the Company to such Bank
hereunder, such Bank shall refund such amount or amounts to the Company without
interest.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) If, after the date hereof, any Bank (including in its
capacity as an Issuing Agent or Swing Line Bank hereunder) or the Administrative
Agent shall have determined that the adoption of any applicable law, rule or
regulation regarding capital adequacy, or any change therein (including, without
limitation, any revision in the Final Risk-Based Capital Guidelines of the Board
of Governors of the Federal Reserve System (12&nbsp;CFR Part 208,
Appendix&nbsp;A; 12&nbsp;CFR Part 225, Appendix&nbsp;A) or of the Office of the
Comptroller of the Currency (12&nbsp;CFR Part 3, Appendix&nbsp;A), or in any
other applicable capital rules heretofore adopted and issued by any governmental
authority), or any change in the interpretation or administration thereof by any
governmental authority, central bank or comparable agency charged with the
interpretation or administration thereof, or compliance by any Bank (or its
Lending Office) with any request or directive regarding capital adequacy
(whether or not having the force of law but, if not having the force of law,
compliance with which is customary in the applicable jurisdiction) of any such
authority, central bank or comparable agency, has or would have the effect of
reducing the rate of return on such Bank's capital, or on the capital of any
corporation controlling such Bank, as a consequence of its obligations hereunder
to a level below that which such Bank could have achieved but for such adoption,
change or compliance (taking into consideration such Bank's policies with
respect to capital adequacy) by an amount deemed by such Bank to be material,
then from time to time, within fifteen (15) days after demand by such Bank (with
a copy to the Administrative Agent), the Company and (subject to Section 12.17
hereof) the other Borrowers shall pay to such Bank such additional amount or
amounts as will compensate such Bank for such reduction; <I>provided,
however,</I> that (a)&nbsp;such Bank shall promptly notify the Company of an
event which might cause it to seek compensation, and the Company and (subject to
Section 17.19 hereof) the other Borrowers shall be obligated to pay only such
compensation which is incurred or which arises after the date ninety (90) days
prior to the date such notice is given and (b)&nbsp;such Bank shall not be
entitled to make such a claim for compensation if the Bank has not generally
been making claims for compensation under similar circumstances from other
borrowers&nbsp;</P>
<P align=center>91</P>
<P align=justify> similarly situated under loan agreements with provisions comparable to
this Section entitling the Bank to make such a claim.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c) Each Bank that determines to seek compensation under this
Section&nbsp;14.3 shall notify the Company and the Administrative Agent of the
circumstances that entitle the Bank to such compensation pursuant to this
Section&nbsp;14.3 and will designate a different Lending Office if such
designation will avoid the need for, or reduce the amount of, such compensation
and will not, in the judgment of such Bank, be otherwise impractical or
disadvantageous in any material respect to such Bank. A certificate of any Bank
claiming compensation under this Section&nbsp;14.3 and setting forth the
additional amount or amounts to be paid to it hereunder shall be conclusive in
the absence of demonstrable error. In determining such amount, such Bank may use
any reasonable averaging and attribution methods. The protection of this
Section&nbsp;14.3 shall be available to each Bank regardless of any possible
contention of the invalidity or inapplicability of any law, regulation or other
condition which shall give rise to any demand by such Bank for compensation.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;14.4. Lending Offices</I>. Subject to
Sections&nbsp;4.2, 14.3(c) and 17.1(d) hereof, each Bank may, at its option,
elect to make its Loans hereunder at the branch office or affiliate specified on
the appropriate signature page hereof (each a <I>"Lending Office"</I>) for each
type of Loan available hereunder or at such other of its branches, offices or
affiliates as it may from time to time elect and designate in a written notice
to the Company and the Administrative Agent. The Borrowers shall have no
obligations under Section 14.3 to indemnify a Bank for any cost or loss incurred
by it which results solely from such Bank's changing any applicable Lending
Office other than any such change which, in the judgment of such Bank, is
required by this Agreement.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;<i>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;14.5. Discretion of Bank as to Manner of
Funding</i>. Notwithstanding any other provision of this Agreement, each Bank
shall be entitled to fund and maintain its funding of all or any part of its
Loans in any manner it sees fit, it being understood, however, that for the
purposes of this Agreement all determinations hereunder shall be made as if each
Bank had actually funded and maintained each Eurocurrency Loan through the
purchase of deposits of U.S. Dollars or the applicable Alternative Currency in
the eurocurrency interbank market having a maturity corresponding to such Loan's
Interest Period and bearing an interest rate equal to LIBOR for such Interest
Period.</P>
<P>Section 15. The Agents.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;15.1. Appointment and Authorization of
Agents</I>. Each Bank hereby appoints Harris Trust and Savings Bank as the
Administrative Agent under the Loan Documents and hereby appoints the
Administrative Agent and LaSalle Bank National Association as Issuing Agents
hereunder and hereby appoints each Swing Line Bank to act as such hereunder.
Each Bank hereby authorizes each Agent to take such action as such Agent on its
behalf and to exercise such powers under the Loan Documents as are delegated to
such Agent by the terms thereof, together with such powers as are reasonably
incidental thereto. Whenever in this Agreement there is a specific reference to
the granting of a security interest to the Administrative Agent, it shall be
understood that such interest shall be granted for the benefit of the Banks. In
connection with the execution of a notarial deed (the <I>"Dutch Pledge"</I>)
effecting a right of pledge&nbsp;</P>
<P align=center>92</P>
<P align=justify> on approximately 65% of the issued shares of GBC
Nederland B.V. and for the purpose of ensuring and preserving the validity and
continuity of such right of pledge, the parties hereto agree that the
Administrative Agent shall be the joint and several creditor (in such capacity,
the <I>"Parallel Creditor"</I>) (together with each Bank (and relevant Affiliate
of a Bank party to one or more Hedging Arrangement) of each and every Obligation
and Hedging Liability, if any, payable by the Company or any of its Subsidiaries
to such Bank or Affiliate of a Bank under any Loan Documents, so that
accordingly the Parallel Creditor will have its own independent right to demand
performance by the Company or such of its Subsidiaries of such Obligation or
Hedging Liability, as the case may be, and such Obligation or Hedging Liability,
as the case may be, will be discharged by and to the extent of any discharge
thereof either to the Parallel Creditor or to the relevant Bank or Affiliate of
a Bank, as the case may be.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Parallel Creditor shall act on behalf of each Bank (and
relevant Affiliate of a Bank party to one or more Hedging Arrangements) (i) in
order to fully effectuate a right of pledge in favor of such Bank or Affiliate
of a Bank on approximately 65% of the issued shares of GBC Nederland B.V. by
executing the Dutch Pledge to that effect and (ii) in all matters in connection
with, or in relation to, or concerning the Dutch Pledge and all transactions,
matters and things contemplated thereby. The Parallel Creditor shall therefore
be authorized to exercise on behalf of each Bank (and relevant Affiliate of a
Bank party to one or more Hedging Arrangements) all such rights as are granted
to each such Bank and Affiliate of a Bank under the laws of the Netherlands, and
all such rights as are granted to them in the Dutch Pledge, including for the
avoidance of doubt all and any rights of control or administration
(<I>"beheren"</I>) and rights of disposal (<I>"beschikken"</I>). The right
granted to the Parallel Creditor to act on behalf of each such Bank or Affiliate
of a Bank in connection with the Dutch Pledge as set out above shall be
irrevocable.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;15.2. Agents and Its Affiliates</I>. Each Agent
shall have the same rights and powers under this Agreement and the other Loan
Documents as any other Bank and may exercise or refrain from exercising the same
as though it were not an Agent, and each Agent and its affiliates may accept
deposits from, lend money to, and generally engage in any kind of business with
any Borrower or any Affiliate of the Company as if it were not an Agent under
the Loan Documents. The term <I>"Bank"</I> as used herein and in all other Loan
Documents, unless the context otherwise clearly requires, includes each Agent in
its individual capacity as a Bank. References in Sections&nbsp;1, 2 or 3 hereof
to an Agent's Loans, or to the amount owing to such Agent for which an interest
rate is being determined, refer to such Agent in its individual capacity as a
Bank.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;15.3. Action by Agents</I>. If the
Administrative Agent receives from the Company a written notice of an Event of
Default pursuant to Section&nbsp;12.6(c)(i) hereof, the Administrative Agent
shall promptly give each of the Banks written notice thereof. The obligations of
each Agent under the Loan Documents are only those expressly set forth therein.
Each Agent shall be acting as an independent contractor hereunder and nothing
herein shall be deemed to impose on such Agent any fiduciary obligations to the
Banks or the Borrowers. Without limiting the generality of the foregoing, no
Agent shall be required to take any action hereunder with respect to any Default
or Event of Default, except as expressly provided in Sections&nbsp;13.2 and
13.5. Upon the occurrence of an Event of Default, the Administrative Agent shall
take such action to enforce its Lien on the Collateral and to preserve and
protect the Collateral as may be directed by the&nbsp;</P>
<P align=center>93</P>
<P align=justify> Required Banks. In no event,
however, shall any Agent be required to take any action in violation of
applicable law or of any provision of any Loan Document, and each Agent shall in
all cases be fully justified in failing or refusing to act hereunder or under
any other Loan Document unless it shall be first indemnified to its reasonable
satisfaction by the Banks against any and all costs, expense, and liability
which may be incurred by it by reason of taking or continuing to take any such
action. Each Agent shall be entitled to assume that no Default or Event of
Default exists unless notified to the contrary by a Bank or the Company. In all
cases in which this Agreement and the other Loan Documents do not require an
Agent to take certain actions, such Agent shall be fully justified in using its
discretion in failing to take or in taking any action hereunder and
thereunder.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;15.4. Consultation with Experts</I>. Each Agent
may consult with legal counsel, independent public accountants and other experts
selected by it and shall not be liable for any action taken or omitted to be
taken by it in good faith in accordance with the advice of such counsel,
accountants or experts.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;15.5. Liability of Agents; Credit Decision</I>.
Neither any Agent nor any of its directors, officers, agents, or employees shall
be liable for any action taken or not taken by it in connection with the Loan
Documents (i)&nbsp;with the consent or at the request of the Required Banks or
(ii)&nbsp;in the absence of its own gross negligence or willful misconduct.
Neither any Agent nor any of its directors, officers, agents or employees shall
be responsible for or have any duty to ascertain, inquire into or verify
(i)&nbsp;any statement, warranty or representation made in connection with this
Agreement, any other Loan Document or any Credit Event; (ii)&nbsp;the
performance or observance of any of the covenants or agreements of any Borrower
or Guarantor contained herein or in any other Loan Document; (iii)&nbsp;the
satisfaction of any condition specified in Section&nbsp;11 hereof, except
receipt of items required to be delivered to any Agent; (iv)&nbsp;the validity,
effectiveness, genuineness, enforceability, perfection, value, worth or
collectibility hereof or of any other Loan Document or of any other documents or
writing furnished in connection with any Loan Document or of any Collateral; and
no Agent makes any representation of any kind or character with respect to any
such matter mentioned in this sentence. Each Agent may execute any of its duties
under any of the Loan Documents by or through employees, agents, and
attorneys-in-fact and shall not be answerable to the Banks, any Borrower, or any
Guarantor or any other Person for the default or misconduct of any such agents
or attorneys-in-fact selected with reasonable care. No Agent shall incur any
liability by acting in reliance upon any notice, consent, certificate, other
document or statement (whether written or oral) believed by it to be genuine or
to be sent by the proper party or parties. In particular and without limiting
any of the foregoing, no Agent shall have any responsibility for confirming the
accuracy of any Compliance Certificate or other document or instrument received
by it under the Loan Documents. The Administrative Agent may treat the Banks
that are named herein as the holders of the Notes and the other Obligations
contemplated herein unless and until the Administrative Agent receives notice of
the assignment of the relevant Note and other Obligations held by a Bank
hereunder pursuant to an assignment contemplated by Section 17.12 hereof. Each
Bank acknowledges that it has independently and without reliance on any Agent or
any other Bank, and based upon such information, investigations and inquiries as
it deems appropriate, made its own credit analysis and decision to extend credit
to the Borrowers in the manner set forth in the Loan Documents. It shall be the
responsibility of each Bank to keep itself informed as to the creditworthiness
of the&nbsp;</P>
<P align=center>94</P>
<P align=justify> Borrowers and the Guarantors, and no Agent shall have any liability to
any Bank with respect thereto.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;15.6. Indemnity</I>. The Banks shall ratably,
in accordance with their respective Percentages, indemnify and hold each Agent,
and its directors, officers, employees, agents and representatives harmless from
and against any liabilities, losses, costs or expenses suffered or incurred by
it under any Loan Document or in connection with the transactions contemplated
thereby, regardless of when asserted or arising, except to the extent they are
promptly reimbursed for the same by the Borrowers (without in any way impairing
or otherwise affecting the Borrowers' joint and several obligations to do so)
and except to the extent that any event giving rise to a claim was caused by the
gross negligence or willful misconduct of the party seeking to be indemnified.
The obligations of the Banks under this Section&nbsp;15.6 shall survive
termination of this Agreement.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;15.7. Resignation or Removal of Administrative
Agent and Successor Administrative Agent</I>. The Administrative Agent may
resign at any time by giving written notice thereof to the Banks and the
Company, and the Administrative Agent may be removed at any time by written
notice of removal from the Required Banks to the Administrative Agent and the
Company. Upon any such resignation or removal of the Administrative Agent, the
Required Banks shall have the right to appoint a successor Administrative Agent
with the consent of the Company (which shall not be unreasonably withheld);
<I>provided, however,</I> the consent of the Company shall not be so required
upon the occurrence and during the continuance of an Event of Default hereunder.
If no successor Administrative Agent shall have been so appointed by the
Required Banks, and shall have accepted such appointment, within thirty (30)
days after the retiring Administrative Agent's giving of notice of resignation
or the Required Banks giving notice of the retiring Administrative Agent's
removal, then the retiring Administrative Agent may, on behalf of the Banks,
with the consent of the Company (which shall not be unreasonably withheld)
appoint a successor Administrative Agent, which shall be any Bank hereunder or
any commercial bank organized under the laws of the United States of America or
of any State thereof and having a combined capital and surplus of at least
$200,000,000; <I>provided, however,</I> the consent of the Company shall not be
so required upon the occurrence and during the continuance of an Event of
Default hereunder. Upon the acceptance of its appointment as the Administrative
Agent hereunder, such successor Administrative Agent shall thereupon succeed to
and become vested with all the rights and duties of the retiring or removed
Administrative Agent under the Loan Documents, and the retiring Administrative
Agent shall be discharged from its duties and obligations thereunder. After any
retiring Administrative Agent's resignation or removal hereunder as an Agent,
the provisions of this Section&nbsp;15 and all protective provisions of the
other Loan Documents shall inure to its benefit as to any actions taken or
omitted to be taken by it while it was the Administrative Agent.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;15.8. Payments</I>. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a) <I>To Administrative</I> <I>Agent.</I> Unless the
Administrative Agent shall have been notified by a Bank prior to the date on
which such Bank is scheduled to make payment to the Administrative Agent of the
proceeds of a Loan (which notice shall be effective upon receipt) that such Bank
does not intend to make such payment, the Administrative Agent may assume that&nbsp;</P>
<P align=center>95</P>
<P align=justify>
such Bank has made such payment when due and the Administrative Agent may in
reliance upon such assumption (but shall not be required to) make available to
the Borrower the proceeds of the Loan to be made by such Bank and, if any Bank
has not in fact made such payment to the Administrative Agent, such Bank shall,
on demand, pay to the Administrative Agent the amount made available to the
Borrower attributable to such Bank together with interest thereon in respect of
each day during the period commencing on the date such amount was made available
to the Borrower and ending on (but excluding) the date such Bank pays such
amount to the Administrative Agent at a rate per annum equal to the Federal
Funds Rate. If such amount is not received from such Bank by the Administrative
Agent immediately upon demand, the Borrower will, on demand, repay to the
Administrative Agent the proceeds of the Loan attributable to such Bank with
interest thereon at a rate per annum equal to the interest rate applicable to
the relevant Loan, but without such payment being considered a payment or
prepayment of a Loan, so that the Borrower will have no liability under Section
5.8 hereof with respect to such payment.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) <I>From Administrative Agent.</I> On any Business Day that
the Administrative Agent receives a payment from a Borrower by the time required
by Section 6.7 hereof, the Administrative Agent shall be required to pay to each
Bank for whose account such payment is received its share of such amount before
the close of business on such day. If the Administrative Agent receives any such
payment after the time required by Section 6.7 hereof, the Administrative Agent
shall only be required to remit such payment to the Bank or Banks for whose
account such payment was received on the following Business Day. If the
Administrative Agent fails to remit a payment to a Bank on the Business Day
required in this Section 15.8(b), the Administrative Agent shall pay to such
Bank interest on the U.S. Dollar Equivalent of the amount it was required to
remit (as determined as of the day the Administrative Agent was required to make
such remittance) at the Federal Funds Rate for each day that such amount is not
so remitted.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;15.9. Co-Agents</I>. Notwithstanding anything
herein to the contrary, nothing in this Agreement shall impose any obligation
whatsoever on any of LaSalle Bank National Association, Bank One, NA, The Bank
of New York or Credit Agricole Indosuez in their capacity as Co-Agents. </P>
<P>Section 16. The Guarantees.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;16.1. The Guarantees</I>. To induce the Banks
to provide the credits described herein and in consideration of benefits
expected to accrue to each Guarantor by reason of the Commitments and for other
good and valuable consideration, receipt of which is hereby acknowledged, each
Guarantor hereby unconditionally, irrevocably and jointly and severally
guarantees to each Agent, the Banks, and each other holder of an obligation
hereby guaranteed, the due and punctual payment of (i)&nbsp;all present and
future Obligations and (ii)&nbsp;any present and future Hedging Liability. If
any Borrower or Guarantor fails to pay punctually any indebtedness or other
obligations guaranteed hereby, each Guarantor hereby unconditionally agrees
jointly and severally to make such payment or to cause such payment to be made
punctually as and when the same shall become due and payable, whether at stated
maturity, by acceleration or otherwise, and as if such payment were made by such
Borrower or Guarantor.</P>
<P align=center>96</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;16.2. Guarantee Unconditional</I>. The
obligations of each Guarantor as a guarantor under this Section&nbsp;16 shall be
unconditional and absolute and, without limiting the generality of the
foregoing, shall not be released, discharged or otherwise affected by:</P>
<DIR>
<DIR>
<P align=justify>(a) any extension, renewal, settlement, compromise, waiver or
release in respect of any indebtedness or other obligation of any Borrower or of
any other Guarantor under this Agreement or any other Loan Document or by
operation of law or otherwise;</P>
<P align=justify>(b) any modification or amendment of or supplement to this
Agreement or any other Loan Document;</P>
<P align=justify>(c) any change in the corporate existence, structure or
ownership of, or any insolvency, bankruptcy, reorganization or other similar
proceeding affecting, any Borrower, any other Guarantor, or any of their
respective assets, or any resulting release or discharge of any obligation of
any Borrower or of any other Guarantor contained in any Loan Document;</P>
<P align=justify>(d) the existence of any claim, set-off or other rights which
the Guarantor may have at any time against any Agent, any Bank or any other
Person, whether or not arising in connection herewith;</P>
<P align=justify>(e) any failure to assert, or any assertion of, any claim or
demand or any exercise of, or failure to exercise, any rights or remedies
against any Borrower, any other Guarantor or any other Person or Property;</P>
<P align=justify>(f) any application of any sums by whomsoever paid or howsoever
realized to any obligation of any Borrower, regardless of what obligations of
any Borrower remain unpaid;</P>
<P align=justify>(g) any invalidity or unenforceability relating to or against
any Borrower or any other Guarantor for any reason of this Agreement or of any
other Loan Document or any provision of applicable law or regulation purporting
to prohibit the payment by any Borrower or any other Guarantor of the principal
of or interest on any Loan or any other Obligations or Hedging Liability; or</P>
<P align=justify>(h) any other act or omission to act or delay of any kind by
any Agent, any Bank or any other Person or any other circumstance whatsoever
that might, but for the provisions of this paragraph, constitute a legal or
equitable discharge of the obligations of the Guarantor under this
Section&nbsp;16.</P></DIR></DIR>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;16.3. Discharge Only Upon Payment in Full;
Reinstatement in Certain Circumstances</I>. Each Guarantor's obligations under
this Section&nbsp;16 shall remain in full force and effect until the Commitments
are terminated and the principal of and interest on the Loans and all other
Obligations and Hedging Liability shall have been paid in full. If at any time
any payment of the principal of or interest on any Loan or any other Obligations
or Hedging Liability is rescinded or must be otherwise restored or returned upon
the insolvency, bankruptcy or&nbsp;</P>
<P align=center>97</P>
<P align=justify> reorganization of a Borrower or of a Guarantor, or
otherwise, each Guarantor's obligations under this Section&nbsp;16 with respect
to such payment shall be reinstated at such time as though such payment had
become due but had not been made at such time.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;16.4. Waivers</I>. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a) <I>General.</I> Each Guarantor irrevocably waives
acceptance hereof, presentment, demand, protest and any notice not provided for
herein, as well as any requirement that at any time any action be taken by any
Agent, any Bank or any other Person against any Borrower, another Guarantor or
any other Person.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) <I>Subrogation and Contribution.</I> Unless and until the
Obligations and Hedging Liability have been fully paid and satisfied and the
Commitments have terminated, each Guarantor hereby agrees not to exercise or
otherwise assert any claim or other right it may now or hereafter acquire
against any Borrower or any other Guarantor that arises from the existence,
payment, performance or enforcement of such Guarantor's obligations under this
Section&nbsp;16 or any other Loan Document, including, without limitation, any
right of subrogation, reimbursement, exoneration, contribution, indemnification,
or any right to participate in any claim or remedy of any Agent, any Bank or any
other holder of the indebtedness guaranteed hereby against any Borrower or any
other Guarantor whether or not such claim, remedy or right arises in equity or
under contract, statute or common law, including, without limitation, the right
to take or receive from any Borrower or any other Guarantor directly or
indirectly, in cash or other property or by set-off or in any other manner,
payment or security on account of such claim or other right. </P><I>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;16.5. Limit on Recovery</I>. Notwithstanding any
other provision hereof, the right to recovery of the holders of the Obligations
and Hedging Liability against each Guarantor under this Section&nbsp;16 shall
not exceed the amount which would render such Guarantor's obligations under this
Section 16 void or voidable under applicable law, including without limitation
fraudulent conveyance law less $1.00.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;16.6. Stay of Acceleration</I>. If acceleration
of the time for payment of any amount payable by any Borrower under this
Agreement or any other Loan Document is stayed upon the insolvency, bankruptcy
or reorganization of any Borrower, all such amounts otherwise subject to
acceleration under the terms of this Agreement or the other Loan Documents shall
nonetheless be payable jointly and severally by the Guarantors hereunder
forthwith on demand by the Administrative Agent made at the request of the
Required Banks.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;16.7. Benefit to Guarantors</I>. The Company
and all of the other Guarantors are engaged in related businesses and integrated
to such an extent that the financial strength and flexibility of each Guarantor
has a direct impact on the success of each other Guarantor. Each Guarantor will
derive substantial direct and indirect benefit from the extension of credit
hereunder.</P>
<P align=center>98</P>
<P>Section 17. Miscellaneous.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;17.1. Withholding Taxes</I>. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a) <I>Payments Free of Withholding</I>. Except as otherwise
required by law and subject to Section&nbsp;17.1(b) hereof, each payment by each
Borrower and Guarantor under this Agreement or the other Loan Documents shall be
made without withholding for or on account of any present or future taxes (other
than overall net income taxes on the recipient) imposed by or within the
jurisdiction in which such Borrower or Guarantor is domiciled, any jurisdiction
from which such Borrower or Guarantor makes any payment, or (in each case) any
political subdivision or taxing authority thereof or therein. If any such
withholding is so required, the relevant Borrower or Guarantor shall make the
withholding, pay the amount withheld to the appropriate governmental authority
before penalties attach thereto or interest accrues thereon and forthwith pay
such additional amount as may be necessary to ensure that the net amount
actually received by each Bank (including the Swing Line Banks) and each Agent
free and clear of such taxes (including such taxes on such additional amount) is
equal to the amount which that Bank or any Agent (as the case may be) would have
received had such withholding not been made. If any Agent or Bank pays any
amount in respect of any such taxes, penalties or interest the relevant Borrower
or Guarantor shall reimburse that Agent or Bank for that payment on demand in
the currency in which such payment was made. If any Borrower or Guarantor pays
any such taxes, penalties or interest, it shall deliver official tax receipts
evidencing that payment or certified copies thereof to the Bank or Agent on
whose account such withholding was made (with a copy to the Administrative Agent
if not the recipient of the original) on or before the ninetieth day after
payment. If any Bank or Agent determines it has received or been granted a
credit against or relief or remission for, or repayment of, any taxes paid or
payable by it because of any taxes, penalties or interest paid by any Borrower
or Guarantor and evidenced by such a tax receipt, such Bank or Agent shall, to
the extent it can do so without prejudice to the retention of the amount of such
credit, relief, remission or repayment, pay to such Borrower or Guarantor as
applicable, such amount as such Bank or Agent determines is attributable to such
deduction or withholding and which will leave such Bank or Agent (after such
payment) in no better or worse position than it would have been in if the
relevant Borrower or Guarantor had not been required to make such deduction or
withholding. Nothing in this Agreement shall interfere with the right of each
Bank and Agent to arrange its tax affairs in whatever manner it thinks fit nor
oblige any Bank or Agent to disclose any information relating to its tax affairs
or any computations in connection with such taxes.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) <I>U.S. Withholding Tax Exemptions</I>. (i) Each Bank that
is not a United States person (as such term is defined in
Section&nbsp;7701(a)(30) of the Code) (a <I>"Non-U.S. Person"</I>) shall submit
to the Company and the Administrative Agent on or before the earlier of the date
the initial Borrowing is made hereunder and thirty (30) days after the date
hereof (or within thirty (30) days after such Person becomes a Bank), two duly
completed and signed copies of either Form W-8 BEN (relating to such Bank and
entitling it to a complete exemption from withholding under the Code on all
amounts to be received by such Bank, including fees, pursuant to the Loan
Documents and the Loans) or Form W-8 ECI (relating to all amounts to be received
by such Bank, including fees, pursuant to the Loan Documents and the Loans) of
the United States Internal Revenue Service or, in the case of any Bank exempt
from United States Federal&nbsp;</P>
<P align=center>99</P>
<P align=justify> withholding tax pursuant to Sections 871(h) or 881(c)
of the Code, a Form W-8 or any successor applicable form (a <I>"Form W-8"</I>)
together with a statement under penalty of perjury that such Bank is not a
<I>"bank"</I> under Section 881(c)(3) of the Code. Thereafter and from time to
time, each such Bank shall submit to any Borrower and the Administrative Agent
such additional duly completed and signed copies of one or the other of such
Forms (or such successor forms as shall be adopted from time to time by the
relevant United&nbsp;States taxing authorities) as may be (i)&nbsp;requested by
the Company or such Borrower in a written notice, directly or through the
Administrative Agent, to such Bank and (ii)&nbsp;required under then-current
United States law or regulations to avoid or reduce United States withholding
taxes on payments in respect of all amounts to be received by such Bank,
including fees, pursuant to the Loan Documents or the Loans. Each Bank that is a
Non-U.S. Person and that is a party hereto as of the Effective Date hereby
represents and warrants that, as of the Effective Date, payments made to it
hereunder are exempt from the withholding of United States Federal income taxes
(i) because such payments are effectively connected with a United States trade
or business conducted by such Non-U.S. Person; (ii) pursuant to the terms of an
income tax treaty between the United States and such Non-U.S. Person's country
of residence; or (iii) because such payments are portfolio interest exempt
pursuant to Sections 871(h) or 881(c) of the Code.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(ii) Each Bank agrees at the Company's expense to complete,
accurately and in a manner reasonably satisfactory to the Company and the
Administrative Agent, and to execute, arrange for any required certification of,
and deliver to the Company and the Administrative Agent (or to such government
or taxing authority as the Company or Administrative Agent reasonably directs),
any other form or document that may be required under the laws of any
jurisdiction outside the United States to allow any Borrower or Guarantor to
make a payment under this Agreement or the other Loan Documents without any
deduction or withholding for or on account of any taxes of the type described in
Section&nbsp;17.1 hereof or with any such deduction or withholding for or on
account of such taxes at a reduced rate, in each case so long as such Bank is
(i) legally entitled to provide such certification and deliver such form or
document and (ii) such action is consistent with its overall tax policies and is
not otherwise, in the judgment of such Bank, impractical or disadvantageous in
any material respect to such Bank.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c) <I>Inability of Bank to Submit Forms</I>. If any Bank
determines, as a result of any change in applicable law, regulation or treaty,
or in any official application or interpretation thereof, that it is unable to
submit to any Borrower or the Administrative Agent any form or certificate that
such Bank is obligated to submit pursuant to subsection&nbsp;(b) of this
Section&nbsp;17.1 or that such Bank is required to withdraw or cancel any such
form or certificate previously submitted or any such form or certificate
otherwise becomes ineffective or inaccurate, such Bank shall promptly notify the
Company or such Borrower and the Administrative Agent of such fact and the Bank
shall to that extent not be obligated to provide any such form or certificate
and will be entitled to withdraw or cancel any affected form or certificate, as
applicable.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d) <I>Lending Office.</I> Each Bank will use reasonable
efforts to make its Loans from its Lending Offices in jurisdictions in which
liability for taxes with respect to the payments and remittances described in
Section 17.1(a) above will be eliminated or minimized unless to do so would, in
the judgment of such Bank, be impractical or disadvantageous to such Bank. The&nbsp;</P>
<P align=center>100</P>
<P align=justify>
parties hereto understand and agree that such agreement by each Bank is an
agreement by such Bank only and not binding on any Affiliates of such Bank.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e) <I>Change of Office or Failure to Provide Tax Forms.</I>
Notwithstanding any provision of Section 17.1(a) above to the contrary, the
Borrower shall not have any obligation to pay any taxes or to indemnify any Bank
for such taxes pursuant to this Section 17.1 to the extent that such taxes
result from (i) the failure of any Bank to comply with its obligations pursuant
to Section 17.1(b) or (ii) any representation made on Form&nbsp;W-8 BEN, W-8 ECI
or W-8 or successor applicable form or certification by any Bank incurring such
taxes proving to have been incorrect, false or misleading in any material
respect when so made or deemed to be made or (iii) such Bank changing its
Lending Office to a jurisdiction in which such taxes arise, except to the extent
in the judgment of such Bank such change was required by the terms of this
Agreement.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;17.2. No Waiver of Rights</I>. No delay or
failure on the part of any Agent, Bank or Borrower or on the part of the holder
or holders of any Note in the exercise of any power or right afforded such party
under any Loan Document shall operate as a waiver thereof, nor as an
acquiescence in any default, nor shall any single or partial exercise thereof
preclude any other or further exercise of any other power or right, and the
rights and remedies hereunder of the Agents, the Banks, the Borrowers and the
holder or holders of any Notes are cumulative to, and not exclusive of, any
rights or remedies which any of them would otherwise have.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;17.3. Non-Business Day</I>. If any payment of
principal or interest on any Loan or of any other Obligation shall fall due on a
day which is not a Business Day, interest or fees (as applicable) at the rate,
if any, such Loan or other Obligation bears for the period prior to maturity
shall continue to accrue on such Obligation from the stated due date thereof to
and including the next succeeding Business Day, on which the same shall be
payable.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;17.4. Documentary Taxes</I>. The Company and
(subject to Section 17.19 hereof) the other Borrowers agree that they will pay
any documentary, stamp or similar taxes payable in respect to any Loan Document,
including interest and penalties, in the event any such taxes are assessed,
irrespective of when such assessment is made and whether or not any credit is
then in use or available hereunder.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;17.5. Survival of Representations</I>. All
representations and warranties made herein or in certificates given pursuant
hereto shall survive the execution and delivery of this Agreement and the other
Loan Documents, and shall continue in full force and effect with respect to the
date as of which they were made as long as any credit is in use or available
hereunder.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;17.6. Survival of Indemnities</I>. All
indemnities and all other provisions relative to reimbursement to the Banks of
amounts sufficient to protect the yield of the Banks with respect to the Loans,
including, but not limited to, Section&nbsp;5.8, Section&nbsp;14.3 and
Section&nbsp;17.15 hereof, shall survive the termination of this Agreement and
the other Loan Documents and the payment of the Loans and all other
Obligations.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;17.7. Sharing of Set-Off</I>. Each Bank agrees
with each other Bank a party hereto that if such Bank shall receive and retain
any payment, whether by set-off or application of&nbsp;</P>
<P align=center>101</P>
<P align=justify> deposit balances or otherwise
(<I>"Set-off"</I>), on any of the Committed Revolving Loans or Term Loans or
Reimbursement Obligations in excess of its ratable share (in accordance with its
relevant Percentage) of payments on all such Obligations then outstanding to the
Banks, then such Bank shall purchase for cash at face value, but without
recourse, ratably from each of the other Banks such amount of the Committed
Revolving Loans or Term Loans or Reimbursement Obligations, or participations
therein, held by each such other Banks (or interest therein) as shall be
necessary to cause such Bank to share such excess payment ratably with all the
other Banks; <I>provided, however,</I> that if any such purchase is made by any
Bank, and if such excess payment or part thereof is thereafter recovered from
such purchasing Bank, the related purchases from the other Banks shall be
rescinded ratably and the purchase price restored as to the portion of such
excess payment so recovered, but without interest. For purposes of this
Section&nbsp;17.7, amounts owed to or recovered by, an Issuing Agent in
connection with Reimbursement Obligations in which Banks have been required to
fund their participation shall be treated as amounts owed to or recovered by
such Issuing Agent as a Bank hereunder.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;17.8. Notices</I>. Except as otherwise
specified herein, all notices under the Loan Documents shall be in writing
(including telecopy or other electronic communication) and shall be given to a
party hereunder at its address or telecopier number set forth below or such
other address or telecopier number as such party may hereafter specify by notice
to the Administrative Agent and the Company, given by courier, by United States
certified or registered mail, or by other telecommunication device capable of
creating a written record of such notice and its receipt. Notices under the Loan
Documents to the Banks and the Administrative Agent shall be addressed to their
respective addresses, telecopier or telephone numbers set forth on the signature
pages hereof, and to the Borrowers and the Guarantors in all cases to:</P>
<P align=center>General Binding Corporation<br>
One GBC Plaza<br>
Northbrook, Illinois 60062<br>
Telephone: (847) 272-3700<br>
Telecopy: (847) 272-7680<br>
Attention: Chief Financial Officer<br>
cc: Secretary and General Counsel</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each such notice, request or other communication shall be
effective (i) if given by telecopier, when such telecopy is transmitted to the
telecopier number specified in this Section&nbsp;17.8 or on the signature pages
hereof and a confirmation of receipt of such telecopy has been received by the
sender, (ii)&nbsp;if given by courier, when delivered, (iii)&nbsp;if
given&nbsp;by mail, five (5) Business Days after such communication is deposited
in the mail, registered with return receipt requested, addressed as aforesaid or
(iv)&nbsp;if given by any other means, when delivered at the addresses specified
in this Section&nbsp;17.8 or on the signature pages hereof; <I>provided </I>that
any notice given pursuant to Sections&nbsp;1, 2, 3 or 4 hereof shall be
effective only upon receipt and notices described in clauses (i), (ii) and (iv)
above that are received after normal business hours will be deemed received at
the opening of business on the next business day.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;17.9. Counterparts</I>. This Agreement may be
executed in any number of counterpart signature pages, and by the different
parties on different counterparts, each of which&nbsp;</P>
<P align=center>102</P>
<P align=justify> when executed shall be deemed
an original but all such counterparts taken together shall constitute one and
the same instrument.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;17.10. Successors and Assigns</I>. This
Agreement shall be binding upon the Borrowers and their respective successors
and assigns, and shall inure to the benefit of each of the Banks and the benefit
of their respective successors and assigns, including any subsequent holder of
any Note. No Borrower may assign any of its rights or obligations under any Loan
Document without the written consent of all of the Banks.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;17.11. Participants and Note Assignees</I>.
Each Bank shall have the right (with or without the Company's consent, which if
requested shall not be unreasonably withheld) at its own cost to grant
participations (to be evidenced by one or more agreements or certificates of
participation) in the Loans made, and Reimbursement Obligations and/or Revolving
Credit Commitments or Term Loan Commitments held, by such Bank at any time and
from time to time, and to assign its rights under such Loans or Reimbursement
Obligations or the Notes evidencing such Loans; <I>provided, however,</I> that
no (a) such participation or assignment shall relieve any Bank of any of its
obligations under this Agreement, and any agreement pursuant to which such
participation or assignment of a Note or the rights thereunder is granted shall
provide that the granting Bank shall retain the sole right and responsibility to
enforce the obligations of the Borrowers under the Loan Documents, including,
without limitation, the right to approve any amendment, modification or waiver
of any provision thereof, except that if the Company consents to such
participation, such agreement may provide that such Bank will not agree to any
modification, amendment or waiver of this Agreement described in clause (i) of
Section 17.13 hereof without the consent of such participant or assignee; and
(b) no such assignee or participant shall have any rights under this Agreement
except as provided in this Section&nbsp;17.11, and no Agent shall have any
obligation or responsibility to such participant or assignee, except that
nothing herein provided is intended to affect the rights of an assignee of a
Note to enforce the Note assigned. Any party to which such a participation or
assignment has been granted shall have the benefits of Sections&nbsp;5.8, 14.3
and 17.1 hereof but shall not be entitled to receive any greater payment under
either such Section than the Bank granting such participation or assignment
would have been entitled to receive with respect to the rights transferred. The
Borrowers and Guarantors authorize each Bank to disclose to any purchaser or
prospective purchaser of an interest in its Loans or Revolving Credit Commitment
or Term Loan Commitment any financial or other information pertaining to the
Company and its Subsidiaries, subject to Section&nbsp;17.23 hereof. Nothing
herein shall limit or otherwise affect the rights of a Bank to assign any of its
rights hereunder and under its Notes to any Federal Reserve Bank.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;17.12. Assignment of Commitments by Banks</I>.
(a) Each Bank shall have the right at any time, with the prior written consent
(which consent shall not be unreasonably withheld or delayed) of the Company and
the Administrative Agent, to assign all or any part of its Revolving Credit
Commitment or its Term Loan Commitment (which assignment, if involving its
Revolving Credit Commitment or Revolving Loans, must be of the same percentage
of its Committed Revolving Loan Note, outstanding Committed Revolving Loans,
participations in Letters of Credit and Swing Line Loans) to one or more other
Persons; <I>provided </I>that each such assignment is in an amount of at least
$3,000,000 (or $1,000,000 in the case of an assignment to another Bank) or the
entire Revolving Credit Commitment and Term Loan Commitments of such&nbsp;</P>
<P align=center>103</P>
<P align=justify> assigning
Bank; <I>provided further</I> that no such consents from the Administrative
Agent or the Company shall be required if the assignee is another Bank or an
Affiliate of the assigning Bank (<I>provided</I> that any such Affiliate of the
assigning Bank complies with Section 17.1(b) hereof at the time of such
assignment) and no such consent shall be required from the Company for any
assignment made during the continuance of any Event of Default or for any such
assignment to an Affiliate of a Bank. Each such assignment shall set forth the
assignee's address for notices to be given under Section 17.8 hereof hereunder
and its designated Lending Office pursuant to Section 14.4 hereof. Upon any such
assignment, delivery to the Administrative Agent and the Company of an executed
copy of such assignment agreement and the forms referred to in Section 17.1
hereof, if applicable, and, in the case of an assignment to a Person other than
an Affiliate of the assigning Bank, the payment of a $3,000 recordation fee to
the Administrative Agent, the assignee shall become a Bank hereunder, all Loans,
participations in Letters of Credit and Swing Line Loans and the Revolving
Credit Commitment and Term Loan Commitments it thereby holds shall be governed
by all the terms and conditions hereof and the Bank granting such assignment
shall have its Revolving Credit Commitment, and its obligations and rights in
connection therewith, reduced by the amount of such assignment. At the time of
the assignment the Company and other relevant Borrowers shall execute and
deliver new Notes to the assignor and/or assignee.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) <I>Assignment of Commitments Under Certain Circumstances.
</I>If (a) the Company receives a notice or certificate from a Bank requesting
an amount be paid to such Bank under Section&nbsp;14.3 hereof and the Required
Banks have not similarly made requests for payment arising out of the same
circumstances or (b) the obligation of any Bank to make or maintain any
Eurocurrency Loan has terminated under Section&nbsp;14.1 hereof and the
obligations of the Required Banks to make or maintain Eurocurrency Loans have
not similarly terminated by reason of the same circumstances or (c) any Bank
shall fail or refuse to make or participate in any Loan or L/C Obligation as and
when required by the terms of this Agreement or (d) any Borrower shall be
required to make additional payments to any Bank under Section&nbsp;17.1 hereof
(or would be required to make such additional payments with respect to any
future interest payment) or (e) any Bank is unable to make or fund a
participation in any Loan denominated in an Alternative Currency and the
Required Banks have not similarly been unable to make or participate in Loans in
the same Alternative Currency under the same circumstances or (f) any Bank fails
to consent to an Approved Jurisdiction to which the Required Banks have
consented, the Company shall have the right, but not the obligation, at its own
expense, upon notice to such Bank and the Administrative Agent, to replace such
Bank with an assignee (in accordance with and subject to the restrictions
contained in Section&nbsp;17.12(a) hereof), and such Bank hereby agrees to
transfer and assign without recourse (in accordance with and subject to the
restrictions contained in Section&nbsp;17.12(a) hereof) all of such assigning
Bank's interests, rights and obligations under this Agreement to such assignee;
<I>provided, however, </I>that (A) no such assignment shall conflict with any
law or any rule, regulation or order of any governmental authority, (B) such
assignee Bank shall pay to the affected Bank in immediately available funds on
the date of such assignment the principal of the Loans made and Reimbursement
Obligations funded by such Bank hereunder, (C) the Company must exercise its
right to replace such Bank within one hundred twenty (120) days of the event
giving rise to the Company's right to so replace such Bank, and (D) the
Borrowers shall pay to the affected Bank in immediately available funds on the
date of such&nbsp;</P>
<P align=center>104</P>
<P align=justify> assignment the interest accrued to the date of payment on the Loans
made by such Bank hereunder and all other amounts accrued for such Bank's
account or owed to it hereunder.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c) The Administrative Agent, acting for this purpose as agent
of each Borrower, shall maintain at one of its offices in Chicago, Illinois a
copy of each assignment delivered to it pursuant to paragraphs (a) or (b) above
and a register for the recordation of the names and addresses of the Banks, and
the Revolving Credit Commitment, Term A Loan Commitment and Term&nbsp;B Loan
Commitment of, and principal amount of the Loans and L/C Obligations owing to,
each Bank pursuant to the terms hereof from time to time (the
<I>"Register"</I>). The entries in the Register shall be conclusive in the
absence of manifest error, and the Borrowers, the Agents and the Banks shall
treat each Person whose name is recorded in the Register pursuant to the terms
hereof as a Bank hereunder for all purposes of this Agreement. The Register
shall be available for inspection by each Borrower, Issuing Agent and Bank, at
any reasonable time and from time to time upon reasonable prior notice.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d) Upon its receipt of a duly completed assignment executed by
an assigning Bank and an assignee pursuant to paragraphs (a) or (b) above, the
recordation fee referred to in paragraph (a) above and the written consent of
the Administrative Agent (and if required, the Company) to such assignment, the
Administrative Agent shall (i) accept such assignment, (ii) record the
information contained therein in the Register and (iii) give prompt notice
thereof to the Banks and other Agents.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;17.13. Amendments</I>. Any provision of the
Credit Documents may be amended or waived if, but only if, such amendment or
waiver is in writing and is signed by (a)&nbsp;the Company (acting on behalf of
all the Borrowers), (b)&nbsp;the Required Banks, (c)&nbsp;if the rights or
duties of any Agent are affected thereby, such Agent and (d)&nbsp;if the rights
and duties of a Swing Line Bank are affected thereby, such Swing Line Bank;
<I>provided, however,</I> that:</P>
<DIR>
<DIR>
<P align=justify>(i) no amendment or waiver pursuant to this Section 17.13 shall
(A)&nbsp;increase any Commitment of any Bank or increase the obligations of any
Bank without the consent of such Bank, or (B)&nbsp; postpone any date upon which
a payment or mandatory prepayment (whether a scheduled amortization payment or
any other mandatory prepayment) of any principal of any Loan or Reimbursement
Obligation or of any fee payable hereunder is required to be made hereunder, or
reduce the amount thereof or otherwise deprive any Bank of any portion thereof,
without the consent of each Bank entitled to receive a portion of such payment
or mandatory prepayment, or (C)&nbsp;reduce the stated rate at which any
interest is calculated or postpone any date upon which a payment of interest is
required to be made hereunder without the consent of each Bank entitled to
receive a portion of such interest payment, or (D)&nbsp;extend the Revolving
Credit Termination Date without the consent of each Bank with a Revolving Credit
Commitment or outstanding Revolving Credit Loans, or (E)&nbsp;extend the
Term&nbsp;A Loan Termination Date without the consent of each Bank with a
Term&nbsp;A Loan Commitment or outstanding Term&nbsp;A Loans, or (F)&nbsp;extend
the Term&nbsp;B Loan Termination Date without the consent of each Bank with a
Term&nbsp;B Loan Commitment or outstanding Term&nbsp;B Loans; </P>
</DIR></DIR>
<P align=center>105 </P>
<DIR>
<DIR>
<P align=justify>(ii) no amendment or waiver pursuant to this Section 17.13
shall, unless signed by each Bank, change any provision of Section 11, this
Section 17.13, or the definition of Required Banks, or affect the number of
Banks required to take any action under the Credit Documents, or release any
Borrower or Guarantor from its liability for any Obligations (except as
permitted by Sections&nbsp;12.1 or 12.12(b) hereof); and</P>
<P align=justify>(iii) no amendment or waiver shall, unless signed by the
relevant Borrowing Subsidiary, (w) subject such Borrowing Subsidiary to any
additional obligation beyond its obligation as a Guarantor hereunder, (x)
increase the principal of or rate of interest on any outstanding Loan of such
Borrowing Subsidiary, (y) accelerate the stated maturity of any outstanding Loan
of such Borrowing Subsidiary or (z) change this clause (iii).</P></DIR></DIR>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;17.13A. Amendments to Loan Documents</I>. Any
provision of the Loan Documents (other than the Credit Documents) may be amended
or waived if, but only if, such amendment or waiver is in writing and is signed
by (a) the Company (acting on behalf of all the Borrowers), (b) the Required
Banks, and (c) if the rights or duties of any Agent are affected thereby, such
Agent; <I>provided</I>,<I> however</I> that no amendment or waiver pursuant to
this Section 17.13A shall, unless signed by each Bank, affect the number of
Banks required to take any action under the Loan Documents.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;17.14. Headings</I>. Section headings used in
this Agreement are for reference only and shall not affect the construction of
this Agreement.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;17.15. Legal Fees, Other Costs and
Indemnification</I>. (a)&nbsp;The Company and (to the extent permitted by
Section 17.19 hereof) the other Borrowers agree, jointly and severally, to pay
all reasonable out-of-pocket costs and expenses of the Administrative Agent
(which in any event may include allocated costs of in-house counsel) in
connection with the preparation and negotiation of the Loan Documents, including
without limitation, the reasonable fees and disbursements of Chapman and Cutler,
counsel to the Administrative Agent, in connection with the preparation and
execution of the Loan Documents, and any amendment, waiver or consent related
hereto, whether or not the transactions contemplated herein are consummated,
together with any fees and charges suffered or incurred by the Administrative
Agent in connection with periodic environmental audits, fixed asset appraisals,
periodic collateral audits, title insurance policies, collateral filing fees and
lien searches. The Company and (to the extent permitted by Section&nbsp;17.19
hereof) the other Borrowers further agree, jointly and severally, to indemnify
each Bank, each Agent, and their respective directors, officers and employees,
against all losses, claims, damages, penalties, judgments, liabilities and
reasonable out-of-pocket expenses (including, without limitation, all expenses
of litigation or preparation therefor, whether or not the indemnified Person is
a party thereto and in any event also including, without limitation, allocated
costs of in-house counsel) which any of them may incur or pay arising out of or
relating to any Loan Document or any of the transactions contemplated thereby or
the direct or indirect application or proposed application of the proceeds of
any Loan or Letter of Credit, other than those which arise from the gross
negligence or willful misconduct of the party claiming indemnification. The
Company<B> </B>and (to the extent permitted by Section 17.19 hereof) the other
Borrowers, upon demand on any one or more of them by any Agent or Bank at any
time, shall reimburse such Agent or Bank for any reasonable legal or other
out-of-pocket expenses (which in&nbsp;</P>
<P align=center>106</P>
<P align=justify> any event may include allocated costs of
in-house counsel) incurred in connection with investigating or defending against
any of the foregoing except if the same is directly due to the gross negligence
or willful misconduct of the party to be indemnified.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b) The Company (and to the extent permitted by
Section&nbsp;17.19 hereof each other Borrower) unconditionally agrees to forever
indemnify, defend and hold harmless, and covenants not to sue for any claim for
contribution against, the Administrative Agent and the Banks for any damages,
costs, loss or expense, including without limitation, response, remedial or
removal costs, arising out of any of the following: (i) any presence, release,
threatened release or disposal of any hazardous or toxic substance or petroleum
by the Company or any Subsidiary or otherwise occurring on or with respect to
its Property (whether owned or leased), (ii)&nbsp;the operation or violation of
any environmental law, whether federal, state, or local, and any regulations
promulgated thereunder, by the Company or any Subsidiary or otherwise occurring
on or with respect to its Property (whether owned or leased), (iii)&nbsp;any
claim for personal injury or property damage in connection with the Company or
any Subsidiary or otherwise occurring on or with respect to its Property
(whether owned or leased), and (iv)&nbsp;the inaccuracy or breach of any
environmental representation, warranty or covenant by the Company or any
Subsidiary made herein or in any other Loan Document evidencing or securing any
Obligations or Hedging Liability or setting forth terms and conditions
applicable thereto or otherwise relating thereto, except for damages arising
from the willful misconduct or gross negligence of the party claiming
indemnification. This indemnification shall survive the payment and satisfaction
of all Obligations and the Hedging Liability and the termination of this
Agreement, and shall remain in force beyond the expiration of any applicable
statute of limitations and payment or satisfaction in full of any single claim
under this indemnification. This indemnification shall be binding upon the
successors and assigns of the Company and each other Borrower and shall inure to
the benefit of the Administrative Agent and the Banks and their directors,
officers, employees, agents, and collateral trustees, and their successors and
assigns.</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;17.16. Set Off</I>. In addition to any rights
now or hereafter granted under applicable law and not by way of limitation of
any such rights, during the continuance of any Event of Default and the
acceleration of the maturity of the Notes or L/C Obligations pursuant to
Section&nbsp;13.2 or 13.3 hereof, each Bank and each subsequent holder of any
Note is hereby authorized by each Borrower and Guarantor at any time or from
time to time, without notice to the Borrowers, to the Guarantors or to any other
Person, any such notice being hereby expressly waived, to set off and to
appropriate and to apply any and all deposits (general or special, including,
but not limited to, Indebtedness evidenced by certificates of deposit, whether
matured or unmatured, but not including trust accounts, and in whatever currency
denominated) and any other Indebtedness at any time held or owing by that Bank
or that subsequent holder to or for the credit or the account of any Borrower or
Guarantor, whether or not matured, against and on account of the obligations and
liabilities of any Borrower or Guarantor to that Bank or that subsequent holder
under the Loan Documents, including, but not limited to, all claims of any
nature or description arising out of or connected with the Loan Documents,
irrespective of whether or not (a)&nbsp;that Bank or that subsequent holder
shall have made any demand hereunder or (b)&nbsp;the principal of or the
interest on the Loans or Notes and other Obligations shall have become due and
payable pursuant to Section&nbsp;13 and although said obligations and
liabilities, or any of them, may be contingent or unmatured.</P>
<P align=center>107</P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;17.17. Currency.</I> Each reference in this
Agreement to U.S. Dollars or to an Alternative Currency (the <I>"relevant
currency"</I>) is of the essence. To the fullest extent permitted by law, the
obligation of each Borrower and Guarantor in respect of any amount due in the
relevant currency under this Agreement shall, notwithstanding any payment in any
other currency (whether pursuant to a judgment or otherwise), be discharged only
to the extent of the amount in the relevant currency that the Person entitled to
receive such payment may, in accordance with normal banking procedures, purchase
with the sum paid in such other currency (after any premium and costs of
exchange) on the Business Day immediately following the day on which such Person
receives such payment. If the amount of the relevant currency so purchased is
less than the sum originally due to such Person in the relevant currency, the
relevant Borrower or Guarantor agrees, as a separate obligation and
notwithstanding any such judgment, to indemnify such Person against such loss,
and if the amount of the specified currency so purchased exceeds the sum of (a)
the amount originally due to the relevant Person in the specified currency plus
(b) any amounts shared with other Banks as a result of allocations of such
excess as a disproportionate payment to such Person under Section 17.7 hereof,
such Person agrees to remit such excess to the Company.</P>
<P align=justify><I>Section 17.18. Unlawful Interest</I>. In no event shall the
amount of interest due or payable hereunder or under the Notes or Applications
exceed the maximum rate of interest allowed by applicable law in any
jurisdiction, and if any such payment is inadvertently made to any Bank by any
Borrower or inadvertently received by any Bank, then such excess sum shall be
credited as a payment of principal, unless such Borrower shall notify such Bank
in writing that it elects to have such excess sum returned. It is the express
intent of the parties hereto that the Borrowers not pay and the Banks not
receive, directly or indirectly in any manner whatsoever, interest in excess of
that which may legally be paid by any Borrower under applicable law in any
jurisdiction.</P>
<P align=justify><I>Section 17.19. Several Liability of Foreign Borrowers</I>.
Notwithstanding anything in this Agreement to the contrary:</P>
<DIR>
<DIR>
<P align=justify>(a) Except as provided in Section&nbsp;17.19(b), all Guarantors
(including without limitation the Company and the Domestic Borrowing
Subsidiaries) are unconditionally and absolutely liable for all Obligations and
Hedging Liability, as set forth more fully in Section&nbsp;16 hereof.</P>
<P align=justify>(b) Each of the Foreign Borrowers shall be severally liable for
its indebtedness and its other direct obligations under this Agreement and the
other Loan Documents, and no Foreign Borrower shall be liable for the
Obligations of any other Borrower under this Agreement and the other Loan
Documents. Each Foreign Borrower shall be severally liable for all payments of
the principal of and interest on Loans to and L/C Obligations of such Foreign
Borrower, any amounts due with respect thereto pursuant to Sections 5.8 or 14.3
hereof and any other amount due hereunder that is specifically allocable to such
Foreign Borrower or the Loans to or L/C Obligations of such Foreign Borrower.
With respect to any other amount due hereunder, including fees, but excluding
principal of and interest on any Loan or L/C Obligation, that is not
specifically allocable to a particular Foreign Borrower, each Foreign Borrower
shall be liable for such amount pro rata in the&nbsp;</P></DIR></DIR>
<P align=center>108</P>
<DIR>
<DIR>
<P align=justify> same proportion as such Foreign
Borrower's outstanding Loans bear to the total of outstanding Loans to and L/C
Obligations of all Borrowers (both Foreign and Domestic).</P></DIR></DIR>
<P align=justify><I>Section&nbsp;17.20. Entire Agreement, Construction and
Waiver</I>. The Loan Documents constitute the entire understanding of the
parties thereto with respect to the subject matter thereof and any prior or
contemporaneous agreements, whether written or oral, with respect thereto are
superseded thereby. Nothing contained herein shall be deemed or construed to
permit any act or omission which is prohibited by the terms of any Collateral
Document, the covenants and agreements contained herein being in addition to and
not in substitution for the covenants and agreements contained in the Collateral
Documents. Upon the effectiveness of this Agreement, the Banks hereby waive each
Borrower's noncompliance with the Previous Credit Agreement.</P>
<P align=justify><I>Section&nbsp;17.21. Governing Law</I>. This Agreement and
the other Loan Documents, and the rights and duties of the parties hereto, shall
be construed and determined in accordance with the internal laws of the State of
Illinois.</P>
<P align=justify><I>Section&nbsp;17.22. Submission to Jurisdiction; Waiver of
Jury Trial</I>. The Company and each Guarantor hereby submit to the nonexclusive
jurisdiction of the United States District Court for the Northern District of
Illinois and of any Illinois State court sitting in the City of Chicago for
purposes of all legal proceedings arising out of or relating to this Agreement,
the other Loan Documents or the transactions contemplated hereby or thereby. The
Company and each Guarantor irrevocably waive, to the fullest extent permitted by
law, any objection which any of them may now or hereafter have to the laying of
the venue of any such proceeding brought in such a court and any claim that any
such proceeding brought in such a court has been brought in an inconvenient
forum. <B>The Company, each Borrower, each Guarantor, each Agent, and each Bank
hereby irrevocably waives any and all right to trial by jury in any legal
proceeding arising out of or relating to any Loan Document or the transactions
contemplated thereby.</P>
<P align=justify></B><I>Section 17.23. Confidentiality</I>. Each Bank agrees to
maintain in confidence and not to disclose without the Company's consent (other
than to its employees, affiliates, auditors, counsel or other professional
advisors, or to another Bank, each of which shall also be bound by this
Section&nbsp;17.23) any information concerning the Company or any of its
Subsidiaries furnished pursuant to this Agreement which such Bank would
reasonably expect to be confidential in nature; <I>provided that</I> any Bank
may disclose any such information (a) that has become generally available to the
public, (b) if required or appropriate in any report, statement or testimony
submitted to any regulatory body having or claiming to have jurisdiction over
such Bank, (c) if required or appropriate in response to any summons or subpoena
or in connection with any litigation, (d) in order to comply with any law,
order, regulation or ruling applicable to such Bank, or (e) to any prospective
or actual participant or assignee under Sections 17.11 or 17.12 hereof in
connection with any contemplated or actual transfer of an interest in such
Bank's rights or obligations hereunder; <I>provided</I>, that (i)&nbsp;such
actual or prospective transferee executes an agreement with such Bank containing
provisions substantially identical to those contained in this Section 17.23 and
(ii)&nbsp;in the case of any disclosure under subsection&nbsp;(c) above, such
Bank shall (to the extent permitted by applicable law) notify the Company of
such disclosure so that the Company may seek an appropriate protective order or
waive such Bank's compliance with the&nbsp;</P>
<P align=center>109</P>
<P align=justify> provisions of this Section, it being
understood that if the Company has no right to obtain such a protective order or
if the Company does not commence procedures to obtain such a protective order
within ten business days of the receipt of such notice, such Bank's compliance
with this Section shall be deemed to have been waived with respect to such
disclosure.</P><B>
<P align=justify></B><I>Section 17.24. Previous Notes</I>. Each Bank agrees to
return to the Company, promptly after the Effective Date, each Note (marked
<I>"cancelled"</I> or words of similar import) previously issued by each
Borrower to such Bank under the Previous Credit Agreement.</P>
<P align=justify><I>Section&nbsp;17.25. Reaffirmation of Collateral
Documents</I>. Each Credit Party hereby reaffirms its obligations under any and
all Collateral Documents executed prior to the date hereof, as amended from time
to time, in support of the Obligations under and as defined in the Previous
Credit Agreement and agrees and acknowledges that the Liens created and provided
for by such Collateral Documents continue to be effective in favor of the
Administrative Agent and the Lenders and continue to secure, among other things,
the Obligations and the Hedging Liability as defined in this Second Amended and
Restated Multicurrency Credit Agreement.</P>
<P align=justify><I>Section&nbsp;17.26. Assignments and Assumptions of Loans and
Commitments</I>. Each Bank agrees that, upon the effectiveness of this Agreement
and its funding of any amounts by which its Loans outstanding on the Effective
Date hereunder exceed its Loans outstanding under the Previous Credit Agreement
immediately prior to the effectiveness of this Agreement, it shall have, as
applicable, the Revolving Credit Commitment, outstanding Revolving Credit Loans,
participation interests in Swing Line Loans and L/C Obligations, Term&nbsp;A
Loan Commitment, outstanding Term&nbsp;A Loans, Term&nbsp;B Loan Commitment and
outstanding Term&nbsp;B Loans as provided herein, together with all of the
rights and obligations pertaining thereto (collectively, its <I>"Amended and
Restated Interests"</I>). In connection therewith, each Bank agrees that by its
execution and delivery of its signature page hereto it shall be deemed to have
(i)&nbsp;assigned and delegated all of its rights and interests under the
Previous Credit Agreement to the Banks hereunder and (ii)&nbsp;assumed from the
Banks under the Previous Credit Agreement its Amended and Restated
Interests.</P>
<P align=center>[Signature Pages to Follow]</P>
<P align=center>110</P>
<P align=justify>Dated as of January&nbsp;11, 2002</P>
<B>
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    <TD vAlign=top width="50%">&nbsp;</TD>
    <TD vAlign=top width="50%"><FONT face="Times,Times New Roman">
      <P>General Binding Corporation</FONT></P></TD></TR>
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    <TD vAlign=top width="50%">&nbsp;</TD>
    <TD vAlign=top width="50%"><FONT face="Times,Times New Roman">
      <P>By <U>/s/ Steve
      Rubin&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
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    <TD vAlign=top width="50%"><FONT face="Times,Times New Roman">
      <P>Name <U>Steve
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<B>
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      <P>By: General Binding Corporation</FONT></P></TD></TR>
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    <TD vAlign=top width="50%">&nbsp;</TD>
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      <P>By <U>/s/ Steve
      Rubin&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
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    <TD vAlign=top width="50%">&nbsp;</TD>
    <TD vAlign=top width="50%"><FONT face="Times,Times New Roman">
      <P>Name <U>Steve
      Rubin&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
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    <TD vAlign=top width="50%">&nbsp;</TD>
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      <P>Title <U>Vice President, Secretary &amp;</U></FONT></P></TD></TR>
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      <P>GBC International, Inc.</FONT></P></TD></TR>
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    <TD vAlign=top width="50%">&nbsp;</TD>
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      <P>By <U>/s/ Steve
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  <TR>
    <TD vAlign=top width="50%">&nbsp;</TD>
    <TD vAlign=top width="50%"><FONT face="Times,Times New Roman">
      <P>Name <U>Steve
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    <TD vAlign=top width="50%">&nbsp;</TD>
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      <P>GBC India Holdings Inc.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="50%">&nbsp;</TD>
    <TD vAlign=top width="50%"><FONT face="Times,Times New Roman">
      <P>By <U>/s/ Steve
      Rubin&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="50%">&nbsp;</TD>
    <TD vAlign=top width="50%"><FONT face="Times,Times New Roman">
      <P>Name <U>Steve
      Rubin&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="50%">&nbsp;</TD>
    <TD vAlign=top width="50%"><FONT face="Times,Times New Roman">
      <P>Title <U>Vice President, Secretary &amp;</U></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="50%">&nbsp;</TD>
    <TD vAlign=top width="50%"><FONT face="Times,Times New Roman">
      <P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>General Council&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR></TABLE>
<TABLE cellSpacing=0 cellPadding=0 width=638 border=0 height="126">

  <TR>
    <TD vAlign=top width="50%" height="21"></TD>
    <TD vAlign=top width="50%" height="21"></TD></TR>
  <TR>
    <TD vAlign=top width="50%" height="21">&nbsp;</TD>
    <TD vAlign=top width="50%" height="21"><FONT face="Times,Times New Roman">
      <P>VeloBind, Incorporated</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="50%" height="21">&nbsp;</TD>
    <TD vAlign=top width="50%" height="21"><FONT face="Times,Times New Roman">
      <P>By <U>/s/ Steve
      Rubin&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="50%" height="21">&nbsp;</TD>
    <TD vAlign=top width="50%" height="21"><FONT face="Times,Times New Roman">
      <P>Name <U>Steve
      Rubin&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="50%" height="21">&nbsp;</TD>
    <TD vAlign=top width="50%" height="21"><FONT face="Times,Times New Roman">
      <P>Title <U>Vice President, Secretary &amp;</U></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="50%" height="21">&nbsp;</TD>
    <TD vAlign=top width="50%" height="21"><FONT face="Times,Times New Roman">
      <P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>General Council&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD></TR></TABLE></B>
<P align="center">111</P>
<P>Accepted and Agreed to as of the day and year last above
written.</P>
<B>
<P align=center>
<CENTER>
</B>
<div align="center">
  <center>
<TABLE cellSpacing=0 cellPadding=0 width=570 border=0>

  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>111 West Monroe Street</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Harris Trust And Savings Bank,</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60690</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>in its individual capacity as a Bank and</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telecopy: (312) 461-2591</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>as Administrative Agent</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telephone: (312) 461-2800</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Revolving Credit</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $8,777,876.89</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/
      Jeann L Holman&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term A Loan</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Name&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp; Jeann L Holman&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $15,643,175.73</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P align=justify>Title&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;
      Vice President&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term B Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $ - 0 -</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Lending Offices:</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Domestic Rate Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>111 West Monroe Street</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60690</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Eurocurrency Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Nassau Branch</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>c/o 111 West Monroe Street</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60690</FONT></P></TD></TR></TABLE></center>
</div>
</CENTER>
<P align="center">112</P>
<P>Accepted and Agreed to as of the day and year last above
written.</P>
<B>
<P align=left>
&nbsp;
<CENTER>
<TABLE cellSpacing=0 cellpadding=0 width=570 border=0>

  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>135 South LaSalle Street</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>LaSalle Bank National Association,</FONT></P></TD></TR>
</B>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60603</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>in its individual capacity as a Bank</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telecopy: (312) 606-8423</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>and as Co-Agent</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telephone: (312) 904-2121</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Revolving Credit</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $7,132,024.98</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/&nbsp; Robert M.
      Swanson&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term A Loan</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Name&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Robert M.
      Swanson&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $12,710,080.29</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;
      Senior Vice President&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term B Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $ - 0 -</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P align=justify>Lending Offices: </FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Domestic Rate Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>135 South LaSalle Street</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60603</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Eurocurrency Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>135 South LaSalle Street</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60603</FONT></P></TD></TR></TABLE></CENTER>
<P align=center>113</P>
<P align=justify>Accepted and Agreed to as of the day and year last above
written.</P><B>
<P align=center>
<CENTER>
</B>
<TABLE cellSpacing=0 cellpadding=0 width=570 border=0>

  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>1 Bank One Plaza</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Bank One, Na (Main Office</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Mail Code IL 1-0318</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>CHICAGO), in its individual capacity as</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telecopy: (312) 732-1158</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>a Bank, as Co-Syndication Agent and</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telephone: (312) 732-2645</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>as Co-Agent</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Revolving Credit</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $7,680,642.28</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Joanna W. Anderson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term A Loan</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Name&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;
      Joanna W. Anderson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $13,687,778.77</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Title&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp; Corporate Banking
      Officer&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term B Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $ - 0 -</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P align=justify>Lending Offices: </FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Domestic Rate Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>1 Bank One Plaza</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Mail Code IL1-0318</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60670-0318</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Eurocurrency Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>1 Bank One Plaza</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Mail Code IL1-0318</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60670-0318</FONT></P></TD></TR></TABLE></CENTER>
<P align=center>114</P>
<P align=justify>Accepted and Agreed to as of the day and year last above
written.</P><B>
<P align=center>
<CENTER>
</B>
<div align="center">
  <center>
<TABLE cellSpacing=0 cellPadding=0 width=570 border=0>

  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>One Wall Street, 19th Floor</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>The Bank of New York,</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Central Division</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>in its individual capacity as a Bank </FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>New York, New York 10286</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>and as Co-Agent</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telecopy: (212) 635-1208</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telephone: (212) 635-8204</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Revolving Credit</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $3,867,082.96</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/
      Stephen C. Brennan</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term A Loan</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Name&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp; Stephen C. Brennan</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $6,891,582.00</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp; Vice
      President&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term B Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $ - 0 -</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P align=justify>Lending Offices: </FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Domestic Rate Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>101 Barclay Street</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>New York, New York 10286</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>ABA # 021000018</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Commercial Loan Servicing Department</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>GLA#: 111556</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Eurocurrency Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>101 Barclay Street</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>New York, New York 10286</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>ABA # 021000018</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Eurodollar/Cayman Funding Area</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>GLA#: 111556</FONT></P></TD></TR></TABLE></center>
</div>
</CENTER>
<P align="center">115</P>
<P>Accepted and Agreed to as of the day and year last above
written.</P>
<div align="center">
  <center>
<TABLE cellSpacing=0 cellPadding=0 width=570 border=0>
  <TR>
    <TD vAlign=top width="52%" height="21"><FONT face="Times,Times New Roman">
      <P>666 Third Avenue</FONT></P></TD>
    <TD vAlign=top width="48%" height="21"><FONT face="Times,Times New Roman">
      <P>Credit Agricole Indosuez,</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><FONT face="Times,Times New Roman">
      <P>New York, New York 10017</FONT></P></TD>
    <TD vAlign=top width="48%" height="21"><FONT face="Times,Times New Roman">
      <P>in its individual capacity as </FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><FONT face="Times,Times New Roman">
      <P>Telecopy: (646) 658-2051</FONT></P></TD>
    <TD vAlign=top width="48%" height="21"><FONT face="Times,Times New Roman">
      <P>a Bank and as Co-Agent</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><FONT face="Times,Times New Roman">
      <P>Telephone: (646) 658-2058</FONT></P></TD>
    <TD vAlign=top width="48%" height="21">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21">&nbsp;</TD>
    <TD vAlign=top width="48%" height="21">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><FONT face="Times,Times New Roman">
      <P>Revolving Credit </FONT></P></TD>
    <TD vAlign=top width="48%" height="21">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><FONT face="Times,Times New Roman">
      <P>Commitment: $6,583,407.67</FONT></P></TD>
    <TD vAlign=top width="48%" height="21"><FONT face="Times,Times New Roman">
      <P>By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/&nbsp; Leo Von Leissig</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><FONT face="Times,Times New Roman">
      <P>Term A Loan</FONT></P></TD>
    <TD vAlign=top width="48%" height="21"><FONT face="Times,Times New Roman">
      <P>Name&nbsp; <u>/s/&nbsp; Leo Von Leissig</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><FONT face="Times,Times New Roman">
      <P>Commitment: $11,732,381.80</FONT></P></TD>
    <TD vAlign=top width="48%" height="21"><FONT face="Times,Times New Roman">
      <P>Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp; Vice
      President&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><FONT face="Times,Times New Roman">
      <P>Term B Loan</FONT></P></TD>
    <TD vAlign=top width="48%" height="21">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><FONT face="Times,Times New Roman">
      <P>Commitment: $ - 0 -</FONT></P></TD>
    <TD vAlign=top width="48%" height="21"><FONT face="Times,Times New Roman">
      <P>By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/&nbsp; Frederik W. Aase</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21">&nbsp;</TD>
    <TD vAlign=top width="48%" height="21"><FONT face="Times,Times New Roman">
      <P>Name&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Frederik W. Aase</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21">&nbsp;</TD>
    <TD vAlign=top width="48%" height="21"><FONT face="Times,Times New Roman">
      <P>Title&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vice
      President&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><FONT face="Times,Times New Roman">
      <P align=justify>Lending Offices: </FONT></P></TD>
    <TD vAlign=top width="48%" height="21">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><FONT face="Times,Times New Roman">
      <P>Domestic Rate Loans:</FONT></P></TD>
    <TD vAlign=top width="48%" height="21"><FONT face="Times,Times New Roman">
      <P>55 East Monroe Street</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21">&nbsp;</TD>
    <TD vAlign=top width="48%" height="21"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60608</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><FONT face="Times,Times New Roman">
      <P>Eurocurrency Loans:</FONT></P></TD>
    <TD vAlign=top width="48%" height="21"><FONT face="Times,Times New Roman">
      <P>55 East Monroe Street</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21">&nbsp;</TD>
    <TD vAlign=top width="48%" height="21"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60608</FONT></P></TD></TR>
  </TABLE></center>
</div>
<B>
<div align="center">
  <center>
<TABLE cellSpacing=0 cellpadding=0 width=570 border=0>
  <TR>
    <TD vAlign=top width="52%"></TD>
    <TD vAlign=top width="48%"></TD></TR>
  <TR>
    <TD vAlign=top width="52%"></TD>
    <TD vAlign=top width="48%"></TD></TR>
  </TABLE></center>
</div>
</B>
<P align=center>116</P>
<P align=left>Accepted and Agreed to as of the day and year last above
written.</P>
<div align="center">
  <center>
<TABLE cellSpacing=0 cellPadding=0 width=570 border=0>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>500 Woodward Avenue</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Comerica Bank</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Mail Code 3241</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Detroit, Michigan 48226</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telecopy: (313) 222-5759</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telephone: (313) 222-9175</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Richard C. Hampson</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Revolving Credit</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Name&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp; Richard C. Hampson</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $7,680,642.28</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp; Vice
      President&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term A Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $13,687,778.77</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term B Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $ - 0 -</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P align=justify>Lending Offices: </FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Domestic Rate Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>500 Woodward Avenue</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Mail Code 3241</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Detroit, Michigan 48226</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Eurocurrency Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>500 Woodward Avenue</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Mail Code 3241</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Detroit, Michigan 48226</FONT></P></TD></TR>
  </TABLE></center>
</div>
<P align=center>117</P>
<P align=left>Accepted and Agreed to as of the day and year last above
written.</P>
<div align="center">
  <center>
<TABLE cellSpacing=0 cellPadding=0 width=570 border=0>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>The Bank of Tokyo-Mitsubishi, Limited,</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>227 West Monroe Street</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Chicago Branch</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Suite 2300</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60606</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telecopy: (312) 696-4535</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telephone: (312) 696-4663</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/&nbsp; Shinichiro
      Munechika&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Revolving Credit</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Name&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shinichiro
      Munechika&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $4,937,555.75</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      Deputy General Manager</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term A Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $8,799,286.35</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term B Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $ - 0 -</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P align=justify>Lending Offices: </FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Domestic Rate Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>227 West Monroe Street</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Suite 2300</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60606</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Eurocurrency Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>227 West Monroe Street</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Suite 2300</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60606</FONT></P></TD></TR></TABLE></center>
</div>
<P align=center>118</P>
<P align=left>Accepted and Agreed to as of the day and year last above
written.</P>
<div align="center">
  <center>
<TABLE cellSpacing=0 cellpadding=0 width=570 border=0>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>303 Peachtree Street NE, 10th Floor</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>SunTrust Bank</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Mail Code 1928</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Atlanta, Georgia 30308</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telecopy: (404) 658-4923</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telephone: (404) 658-4905</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/&nbsp; Linda L
      Dash&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Revolving Credit </FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Name&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Linda L
      Dash&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $6,034,790.37</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;
      Vice President&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term A Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $10,754,683.32</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term B Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $ - 0 -</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P align=justify>Lending Offices: </FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Domestic Rate Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>303 Peachtree Street NE, 10th Floor</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Mail Code 1928</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Atlanta, Georgia 30308</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Eurocurrency Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>303 Peachtree Street NE, 10th Floor</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Mail Code 1928</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Atlanta, Georgia 30308</FONT></P></TD></TR></TABLE></center>
</div>
<P align=center>119</P>
<P align=left>Accepted and Agreed to as of the day and year last above
written.</P>
<div align="center">
  <center>
<TABLE cellSpacing=0 cellpadding=0 width=570 border=0>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>3630 Sears Tower</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>U.S. Bank National Association</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>233 S. Wacker Drive</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60601</FONT></P></TD>
<B>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P></FONT></P></TD></TR>
</B>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telecopy: (312) 775-3219</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telephone: ((312) 775-3207</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ David F. Higbee&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Revolving Credit</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Name&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp; David F. Higbee&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $3,840,321.14</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      Vice President&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term A Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $6,843,889.39</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term B Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $ - 0 -</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P align=justify>Lending Offices: </FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Domestic Rate Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>3630 Sears Tower</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>233 S. Wacker Drive</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60601</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Eurocurrency Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>3630 Sears Tower</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>233 S. Wacker Drive</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60601</FONT></P></TD></TR></TABLE></center>
</div>
<P align=center>120</P>
<P align=left>Accepted and Agreed to as of the day and year last above
written.</P>
<div align="center">
  <center>
<TABLE cellSpacing=0 cellPadding=0 width=570 border=0>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>1900 East Ninth Street</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>National City Bank</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Cleveland, Ohio 44114</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Jennifer Kofod</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Locator 2077</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telecopy: (216) 222-0003</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Jennifer L Kofod&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telephone: (312) 384-4612</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Name&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp; Jennifer L Kofod&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Revolving Credit </FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;
      Assistant Vice President</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $4,937,555.75</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term A Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $8,799,286.35</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term B Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $ - 0 -</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P align=justify>Lending Offices: </FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Domestic Rate Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>1900 East Ninth Street</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Cleveland, Ohio 44114</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Jennifer Kofod</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Locator 2077</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Eurocurrency Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>1900 East Ninth Street</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Cleveland, Ohio 44114</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Jennifer Kofod</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Locator 2077</FONT></P></TD></TR></TABLE></center>
</div>
<P align=center>121</P>
<P align=left>Accepted and Agreed to as of the day and year last above
written.</P>
<div align="center">
  <center>
<TABLE cellSpacing=0 cellPadding=0 width=570 border=0>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>227 West Monroe Street</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Credit Lyonnais Chicago Branch</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Suite 3800</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60606</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telecopy: (312) 641-0527</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telephone: (312) 220-7317</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Joseph A. Philbin&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Revolving Credit </FONT></P></TD>
    <TD vAlign=top width="48%">
      <P>Name&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp; Joseph A. Philbin&nbsp;&nbsp;</u></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $5,486,173.06</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Title:&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp; Vice
      President&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term A Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $9,776,984.84</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term B Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $ - 0 -</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P align=justify>Lending Offices: </FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Domestic Rate Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>227 West Monroe Street</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Suite 3800</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60606</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Eurocurrency Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>227 West Monroe Street</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Suite 3800</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60606</FONT></P></TD></TR></TABLE></center>
</div>
<P align=center>122</P>
<P align=left>Accepted and Agreed to as of the day and year last above
written.</P>
<div align="center">
  <center>
<TABLE cellSpacing=0 cellPadding=0 width=570 border=0>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>181 West Madison Street</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>The Bank of Nova Scotia</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Suite 3700</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60602</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telecopy: (312) 201-4108</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telephone: (312) 201-4125</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ M.D.
      Smith&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Revolving Credit </FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Name&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp; M.D.
      Smith&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $5,486,173.06</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Tile&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;
      Agent Operations&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term A Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $9,776,984.84</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term B Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $ - 0 -</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P align=justify>Lending Offices: </FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Domestic Rate Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Atlanta Agency</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>600 Peachtree Street NE, Suite 2700</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Atlanta, Georgia 30308</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Attn: Vicki Gibson</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Eurocurrency Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Atlanta Agency</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>600 Peachtree Street NE, Suite 2700</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Atlanta, Georgia 30308</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Attn: Vicki Gibson</FONT></P></TD></TR></TABLE></center>
</div>
<P align=center>123</P>
<P align=left>Accepted and Agreed to as of the day and year last above
written.</P>
<div align="center">
  <center>
<TABLE cellSpacing=0 cellPadding=0 width=570 border=0>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>1221 Avenue of the Americas</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Societe Generale</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>New York, New York 10020</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telecopy: (212) 278-7614</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telephone:: (212) 278-6203</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/&nbsp; R. Wayne
      Hutton&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Revolving Credit</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Name&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; R. Wayne
      Hutton&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $6,034,790.37</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Title&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp; Director
      Corporate Banking</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term A Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $10,754,683.32</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term B Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $ - 0 -</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P align=justify>Lending Offices: </FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Domestic Rate Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>2001 Ross Avenue</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Suite 4800</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Dallas, Texas 75201</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Eurocurrency Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>2001 Ross Avenue</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Suite 4800</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Dallas, Texas 75201</FONT></P></TD></TR></TABLE></center>
</div>
<P align=center>124</P>
<P align=left>Accepted and Agreed to as of the day and year last above
written.</P>
<div align="center">
  <center>
<TABLE cellSpacing=0 cellPadding=0 width=570 border=0>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>60 Long Ridge Road</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>General Electric Capital Corporation</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Stamford, Connecticut 06927-5100</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telecopy: (203) 316-7978</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telephone: (203) 961-5793</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Gregory
      Hong&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Revolving Credit</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Name&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp; Gregory
      Hong&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $3,840,321.14</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Title&nbsp;&nbsp;&nbsp;&nbsp; <u>Duly Authorized Signatory</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term A Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $6,843,889.39</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term B Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $ - 0 -</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P align=justify>Lending Offices: </FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Domestic Rate Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>60 Long Ridge Road</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Stamford, Connecticut 06927-5100</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Eurocurrency Loans: </FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>60 Long Ridge Road</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Stamford, Connecticut
06927-5100</FONT></P></TD></TR></TABLE></center>
</div>
<P align=center>125</P>
<P align=left>Accepted and Agreed to as of the day and year last above
written.</P>
<div align="center">
  <center>
<TABLE cellSpacing=0 cellPadding=0 width=570 border=0>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>130 Liberty Street</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Bankers Trust Company</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>New York, New York 10006</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telecopy:&nbsp;&nbsp; <u>(312) 993-8114&nbsp;&nbsp;</u></FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telephone: <u>(312) 993-8109&nbsp;&nbsp;</u></FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Marco Orlando</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Revolving Credit</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Name&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp; Marco Orlando</u> </FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $4,388,938.45</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Title&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;
      Director&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term A Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $7,821,587.87</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term B Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $ - 0 -</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P align=justify>Lending Offices: </FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Domestic Rate Loans:</FONT></P></TD>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>130 Liberty Street</FONT></P></TD>
  </TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>New York, New York 10006</FONT></P></TD>
  </TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Eurocurrency Loans:</FONT></P></TD>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>130 Liberty Street</FONT></P></TD>
  </TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>New York, New York 10006</FONT></P></TD>
  </TR>
</TABLE></center>
</div>
<P align=center>126</P>
<P align=left>Accepted and Agreed to as of the day and year last above
written.</P>
<div align="center">
  <center>
<TABLE cellSpacing=0 cellPadding=0 width=570 border=0>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>10 South Wacker Drive,18<SUP>th</SUP> Floor</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>The Sanwa Bank, Limited, Chicago Branch</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Chicago, Illinois 60606</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telecopy: (312) 368-3019</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Telephone: (312) 368-3006</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Kenneth C. Elchwald</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Revolving Credit</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Name&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp; Kenneth C. Elchward</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $3,291,703.84</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp; Senior Vice
      President</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term A Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $5,866,190.90</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Term B Loan</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Commitment: $ - 0 -</FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P align=justify>Lending Offices: </FONT></P></TD>
    <TD vAlign=top width="48%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Domestic Rate Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>The Sanwa Bank, Limited, New York Branch</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>55 East 52<SUP>nd</SUP> Street</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>New York, New York 10055</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><FONT face="Times,Times New Roman">
      <P>Eurocurrency Loans:</FONT></P></TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>The Sanwa Bank, Limited, New York Branch</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>55 East 52<SUP>nd</SUP> Street</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">&nbsp;</TD>
    <TD vAlign=top width="48%"><FONT face="Times,Times New Roman">
      <P>New York, New York 10055</FONT></P></TD></TR>
  </TABLE></center>
</div>
<P align=center>127</P>
<P align=left>Accepted and Agreed to as of the day and year last above
written.</P>
</FONT>
<div align="center">
  <center>
<TABLE cellSpacing=0 cellPadding=0 width=570 border=0 height="419">
  <TR>
    <TD vAlign=top width="52%" height="21"><font face="Times New Roman">Merrill Lynch , Pierce Fenner &amp;
      Smith, Inc.</font></TD>
    <TD vAlign=top width="48%" height="21">
      <P><font face="Times New Roman">Merrill Lynch Pierce Fenner &amp; Smith, Inc.</font></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><font face="Times New Roman">4 World Financial Center</font></TD>
    <TD vAlign=top width="48%" height="21"><font face="Times New Roman">&nbsp;</font></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><font face="Times New Roman">New York, NY 10080</font></TD>
    <TD vAlign=top width="48%" height="21"><font face="Times New Roman">&nbsp;</font></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="20">
      <P><font face="Times New Roman">Telecopy: (212) 449-4877</font></P></TD>
    <TD vAlign=top width="48%" height="20">
      <P><font face="Times New Roman">By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Kevin Lydon&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21">
      <P><font face="Times New Roman">Telephone: (212) 449-4980</font></P></TD>
    <TD vAlign=top width="48%" height="21">
      <P><font face="Times New Roman">Name&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp; Kevin Lydon&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><font face="Times New Roman">&nbsp;</font></TD>
    <TD vAlign=top width="48%" height="21"><font face="Times New Roman">&nbsp;</font></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21">
      <P><font face="Times New Roman">Revolving Credit</font></P></TD>
    <TD vAlign=top width="48%" height="21">
      <P><font face="Times New Roman">Title&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Managing
      Director&nbsp;&nbsp;&nbsp;&nbsp;</u></font></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21">
      <P><font face="Times New Roman">Commitment: $ - 0 -</font></P></TD>
    <TD vAlign=top width="48%" height="21"><font face="Times New Roman">&nbsp;</font></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21">
      <P><font face="Times New Roman">Term A Loan</font></P></TD>
    <TD vAlign=top width="48%" height="21"><font face="Times New Roman">&nbsp;</font></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21">
      <P><font face="Times New Roman">Commitment: $ - 0 -</font></P></TD>
    <TD vAlign=top width="48%" height="21"><font face="Times New Roman">&nbsp;</font></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21">
      <P><font face="Times New Roman">Term B Loan</font></P></TD>
    <TD vAlign=top width="48%" height="21"><font face="Times New Roman">&nbsp;</font></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21">
      <P><font face="Times New Roman">Commitment: $14,574,454.43</font></P></TD>
    <TD vAlign=top width="48%" height="21"><font face="Times New Roman">&nbsp;</font></TD></TR>
  <TR>
    <TD vAlign=top width="52%" height="21">
      <P><font face="Times New Roman">Domestic Rate Loans:</font></P></TD>
    <TD vAlign=top width="52%" height="21"><font face="Times New Roman">Merrill Lynch , Pierce Fenner &amp;
      Smith, Inc.</font></TD>
  </TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><font face="Times New Roman">&nbsp;</font></TD>
    <TD vAlign=top width="52%" height="21"><font face="Times New Roman">4 World Financial Center</font></TD>
  </TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><font face="Times New Roman">&nbsp;</font></TD>
    <TD vAlign=top width="52%" height="21"><font face="Times New Roman">New York, NY 10080</font></TD>
  </TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><font face="Times New Roman">&nbsp;</font></TD>
<FONT face="Times,Times New Roman">
<B>
    <TD vAlign=top width="48%" height="21"></TD></TR>
</B>
  </FONT>
  <TR>
    <TD vAlign=top width="52%" height="21">
      <P><font face="Times New Roman">Eurocurrency Loans:</font></P></TD>
    <TD vAlign=top width="52%" height="21"><font face="Times New Roman">Merrill Lynch , Pierce Fenner &amp;
      Smith, Inc.</font></TD>
  </TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><font face="Times New Roman">&nbsp;</font></TD>
    <TD vAlign=top width="52%" height="21"><font face="Times New Roman">4 World Financial Center</font></TD>
  </TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><font face="Times New Roman">&nbsp;</font></TD>
    <TD vAlign=top width="52%" height="21"><font face="Times New Roman">New York, NY 10080</font></TD>
  </TR>
  <TR>
    <TD vAlign=top width="52%" height="21"><font face="Times New Roman">&nbsp;</font></TD>
<FONT face="Times,Times New Roman">
<B>
    <TD vAlign=top width="48%" height="21"></TD></TR></TABLE></center>
</div>
</B>
<P align=center>128</P>
<P align=left>Accepted and Agreed to as of the day and year last above
written.</P>
</FONT>
<div align="center">
  <center>
<TABLE cellSpacing=0 cellPadding=0 width=570 border=0>
  <TR>
    <TD vAlign=top width="52%">
      <P><font face="Times New Roman">10 E. 50<SUP>th</SUP> Street, 21<SUP>st</SUP> Floor</font></P></TD>
    <TD vAlign=top width="48%">
      <P><font face="Times New Roman">Satellite Senior Income Fund LLC</font></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">
      <P><font face="Times New Roman">New York, New York 10022</font></P></TD>
    <TD vAlign=top width="48%"><font face="Times New Roman">&nbsp;</font></TD></TR>
  <TR>
    <TD vAlign=top width="52%">
      <P><font face="Times New Roman">Telecopy: (212) 209-2005</font></P></TD>
    <TD vAlign=top width="48%"><font face="Times New Roman">&nbsp;</font></TD></TR>
  <TR>
    <TD vAlign=top width="52%">
      <P><font face="Times New Roman">Telephone: (212) 209-2018</font></P></TD>
    <TD vAlign=top width="48%">
      <P><font face="Times New Roman">By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Brian S. Kriftcher&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><font face="Times New Roman">&nbsp;</font></TD>
    <TD vAlign=top width="48%"><font face="Times New Roman">&nbsp;</font></TD></TR>
  <TR>
    <TD vAlign=top width="52%">
      <P><font face="Times New Roman">Revolving Credit</font></P></TD>
    <TD vAlign=top width="48%">
      <P><font face="Times New Roman">Name&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp; Brian S. Kriftcher&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">
      <P><font face="Times New Roman">Commitment: $ - 0 -</font></P></TD>
    <TD vAlign=top width="48%">
      <P><font face="Times New Roman">Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp; Chief
      Operating Officer &amp;</u></font></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">
      <P><font face="Times New Roman">Term A Loan</font></P></TD>
    <TD vAlign=top width="48%"><font face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;
      Principal</u></font></TD></TR>
  <TR>
    <TD vAlign=top width="52%">
      <P><font face="Times New Roman">Commitment: $ - 0 -</font></P></TD>
    <TD vAlign=top width="48%"><font face="Times New Roman">&nbsp;</font></TD></TR>
  <TR>
    <TD vAlign=top width="52%">
      <P><font face="Times New Roman">Term B Loan</font></P></TD>
    <TD vAlign=top width="48%"><font face="Times New Roman">&nbsp;</font></TD></TR>
  <TR>
    <TD vAlign=top width="52%">
      <P><font face="Times New Roman">Commitment: $25,035,301.67</font></P></TD>
    <TD vAlign=top width="48%"><font face="Times New Roman">&nbsp;</font></TD></TR>
  <TR>
    <TD vAlign=top width="52%">
      <P><font face="Times New Roman">Domestic Rate Loans:</font></P></TD>
    <TD vAlign=top width="48%">
      <P><font face="Times New Roman">10 E. 50<SUP>th</SUP> Street, 21<SUP>st</SUP> Floor</font></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><font face="Times New Roman">&nbsp;</font></TD>
    <TD vAlign=top width="48%">
      <P><font face="Times New Roman">New York, New York 10022</font></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%">
      <P><font face="Times New Roman">Eurocurrency Loans:</font></P></TD>
    <TD vAlign=top width="48%">
      <P><font face="Times New Roman">10 E. 50<SUP>th</SUP> Street, 21<SUP>st</SUP> Floor</font></P></TD></TR>
  <TR>
    <TD vAlign=top width="52%"><font face="Times New Roman">&nbsp;</font></TD>
    <TD vAlign=top width="48%">
      <P><font face="Times New Roman">New York, New York 10022</font></P></TD></TR></TABLE></center>
</div>
<FONT face="Times,Times New Roman">
<P align=center>129</P>
<B>
<P align=center>Exhibit A-1</P>
<P align=center>Term A Note</P></B>
<P align=justify>January&nbsp;11, 2002</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For Value Received, the undersigned, General Binding
Corporation, a Delaware corporation (the <I>"Company"</I>), promises to pay to
the order of [Name of Bank] (the <I>"Bank"</I>) on the Term A Loan Termination
Date of the hereinafter defined Credit Agreement, at the principal office of
Harris Trust and Savings Bank (the <I>"Administrative Agent"</I>), in Chicago,
Illinois, in U.S. Dollars in accordance with Section&nbsp;1.1 of the Credit
Agreement, the aggregate unpaid principal amount of all Term A Loans made by the
Bank to the Company pursuant to the Credit Agreement, together with interest on
the principal amount of such Term A Loans from time to time outstanding
hereunder at the rates, and payable in the manner and on the dates, specified in
the Credit Agreement.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Bank shall record on its books or records or on a schedule
attached to this Term&nbsp;A Note, which is a part hereof, each Term A Loan made
by it pursuant to the Credit Agreement, together with all payments of principal
and interest and the principal balances from time to time outstanding hereon,
whether the Term A Loan is a Domestic Rate Loan or a Eurocurrency Loan, the
currency thereof and the interest rate and Interest Period applicable thereto,
<I>provided</I> that prior to the transfer of this Term A Note all such amounts
shall be recorded on a schedule attached to this Term A Note. The record
thereof, whether shown on such books or records or on a schedule to this Term A
Note, shall be <I>prima facie</I> evidence of the same, <I>provided,
however,</I> that the failure of the Bank to record any of the foregoing or any
error in any such record shall not limit or otherwise affect the obligation of
the Company to repay all Term A Loans made to it pursuant to the Credit
Agreement together with accrued interest thereon.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This Term&nbsp;A Note is one of the Term A Notes referred to in
the Second Amended and Restated Multicurrency Credit Agreement dated as of
January&nbsp;11, 2002, among General Binding Corporation, one or more Borrowing
Subsidiaries from time to time party thereto, Harris Trust and Savings Bank, as
Administrative Agent, and the Banks party thereto (the <I>"Credit
Agreement"</I>) and is secured by, among other things, the Collateral Documents,
and this Term&nbsp;A Note and the holder hereof are entitled to all the benefits
and security provided for thereby or referred to therein, to which Credit
Agreement reference is hereby made for a statement thereof. All defined terms
used in this Term A Note, except terms otherwise defined herein, shall have the
same meaning as in the Credit Agreement. This Term A Note shall be governed by
and construed in accordance with the internal laws of the State of Illinois.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Voluntary prepayments may be made hereon, certain prepayments
are required to be made hereon, and this Term A Note may be declared due prior
to the expressed maturity hereof, all in the events, on the terms and in the
manner as provided for in the Credit Agreement.</P>
<P align=center>1</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company hereby waives demand, presentment, protest or
notice of any kind hereunder.</P>
<table border="0" width="100%">
  <tr>
    <td width="56%"></td>
    <td width="44%">GENERAL BINDING CORPORATION</td>
  </tr>
  <tr>
    <td width="56%"></td>
    <td width="44%">By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></td>
  </tr>
  <tr>
    <td width="56%"></td>
    <td width="44%">&nbsp;&nbsp; Its&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></td>
  </tr>
</table>
<P align=center>2</P>
<B>
<P align=center>Exhibit A-2</P>
<P align=center>Term B Note</P></B>
<P align=justify>January&nbsp;11, 2002</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For Value Received, the undersigned, General Binding
Corporation, a Delaware corporation (the <I>"Company"</I>), promises to pay to
the order of [Name of Bank] (the <I>"Bank"</I>) on the Term B Loan Termination
Date of the hereinafter defined Credit Agreement, at the principal office of
Harris Trust and Savings Bank (the <I>"Administrative Agent"</I>), in Chicago,
Illinois, in U.S. Dollars in accordance with Section&nbsp;1.1 of the Credit
Agreement, the aggregate unpaid principal amount of all Term B Loans made by the
Bank to the Company pursuant to the Credit Agreement, together with interest on
the principal amount of such Term B Loans from time to time outstanding
hereunder at the rates, and payable in the manner and on the dates, specified in
the Credit Agreement.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Bank shall record on its books or records or on a schedule
attached to this Term&nbsp;B Note, which is a part hereof, each Term B Loan made
by it pursuant to the Credit Agreement, together with all payments of principal
and interest and the principal balances from time to time outstanding hereon,
whether the Term B Loan is a Domestic Rate Loan or a Eurocurrency Loan, the
currency thereof and the interest rate and Interest Period applicable thereto,
<I>provided</I> that prior to the transfer of this Term B Note all such amounts
shall be recorded on a schedule attached to this Term B Note. The record
thereof, whether shown on such books or records or on a schedule to this Term B
Note, shall be <I>prima facie</I> evidence of the same, <I>provided,
however,</I> that the failure of the Bank to record any of the foregoing or any
error in any such record shall not limit or otherwise affect the obligation of
the Company to repay all Term B Loans made to it pursuant to the Credit
Agreement together with accrued interest thereon.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This Term&nbsp;B Note is one of the Term B Notes referred to in
the Second Amended and Restated Multicurrency Credit Agreement dated as of
January&nbsp;11, 2002, among General Binding Corporation, one or more Borrowing
Subsidiaries from time to time party thereto, Harris Trust and Savings Bank, as
Administrative Agent, and the Banks party thereto (the <I>"Credit
Agreement"</I>) and is secured by, among other things, the Collateral Documents,
and this Term&nbsp;B Note and the holder hereof are entitled to all the benefits
and security provided for thereby or referred to therein, to which Credit
Agreement reference is hereby made for a statement thereof. All defined terms
used in this Term B Note, except terms otherwise defined herein, shall have the
same meaning as in the Credit Agreement. This Term B Note shall be governed by
and construed in accordance with the internal laws of the State of Illinois.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Voluntary prepayments may be made hereon, certain prepayments
are required to be made hereon, and this Term B Note may be declared due prior
to the expressed maturity hereof, all in the events, on the terms and in the
manner as provided for in the Credit Agreement.</P>
<P align=center>1</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company hereby waives demand, presentment, protest or
notice of any kind hereunder.</P>
<B>
<table border="0" width="100%">
  <tr>
    <td width="56%"></td>
    <td width="44%">GENERAL BINDING CORPORATION</td>
  </tr>
  <tr>
    <td width="56%"></td>
    <td width="44%">By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></td>
  </tr>
  <tr>
    <td width="56%"></td>
    <td width="44%">&nbsp;&nbsp; Its&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></td>
  </tr>
</table>
</B>
<P align=center>2</P>
<B>
<P align=center>Exhibit A-3</P>
<P align=center>Committed Revolving Loan Note</P></B>
<P align=right>_______&nbsp;__, ____</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For Value Received, the undersigned, [General Binding
Corporation] [Borrowing Subsidiary], a ____________ corporation (the
<I>"Borrower"</I>), promises to pay to the order of [Name of Bank] (the
<I>"Bank"</I>) on the Revolving Credit Termination Date of the hereinafter
defined Credit Agreement, at the principal office of Harris Trust and Savings
Bank (the <I>"Administrative Agent"</I>), in Chicago, Illinois, (or in the case
of Committed Revolving Loans denominated in an Alternative Currency, at such
office as the Administrative Agent has previously notified the Borrower) in the
currency of such Committed Revolving Loan in accordance with Section&nbsp;1.2 of
the Credit Agreement, the aggregate unpaid principal amount of all Committed
Revolving Loans made by the Bank to the Borrower pursuant to the Credit
Agreement, together with interest on the principal amount of such Committed
Revolving Loans from time to time outstanding hereunder at the rates, and
payable in the manner and on the dates, specified in the Credit Agreement.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Bank shall record on its books or records or on a schedule
attached to this Committed Revolving Loan Note, which is a part hereof, each
Committed Revolving Loan made by it pursuant to the Credit Agreement, together
with all payments of principal and interest and the principal balances from time
to time outstanding hereon, whether the Committed Revolving Loan is a Domestic
Rate Loan or a Eurocurrency Loan, the currency thereof and the interest rate and
Interest Period applicable thereto, provided that prior to the transfer of this
Committed Revolving Loan Note all such amounts shall be recorded on a schedule
attached to this Committed Revolving Loan Note. The record thereof, whether
shown on such books or records or on a schedule to this Committed Revolving Loan
Note, shall be <I>prima facie</I> evidence of the same, provided, however, that
the failure of the Bank to record any of the foregoing or any error in any such
record shall not limit or otherwise affect the obligation of the Borrower to
repay all Committed Revolving Loans made to it pursuant to the Credit Agreement
together with accrued interest thereon.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This Committed Revolving Loan Note is one of the Committed
Revolving Loan Notes referred to in the Second Amended and Restated
Multicurrency Credit Agreement dated as of January&nbsp;11, 2002, among General
Binding Corporation, one or more Borrowing Subsidiaries from time to time party
thereto, Harris Trust and Savings Bank, as Administrative Agent, and the Banks
party thereto (the <I>"Credit Agreement"</I>) and is secured by, among other
things, the Collateral Documents, and this Committed Revolving Loan Note and the
holder hereof are entitled to all the benefits and security provided for thereby
or referred to therein, to which Credit Agreement reference is hereby made for a
statement thereof. All defined terms used in this Committed Revolving Loan Note,
except terms otherwise defined herein, shall have the same meaning as in the
Credit Agreement. This Committed Revolving Loan Note shall be governed by and
construed in accordance with the internal laws of the State of Illinois.</P>
<P align=center>1</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Voluntary prepayments may be made hereon, certain prepayments
are required to be made hereon, and this Committed Revolving Loan Note may be
declared due prior to the expressed maturity hereof, all in the events, on the
terms and in the manner as provided for in the Credit Agreement.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Borrower hereby waives demand, presentment, protest or
notice of any kind hereunder.</P>
<table border="0" width="100%">
  <tr>
    <td width="56%"></td>
    <td width="44%">[BORROWER]</td>
  </tr>
  <tr>
<td width="56%"></td>
    <td width="44%"></td>
  </tr>
  <tr>
    <B>
<td width="56%"></td>
    </B>
    <td width="44%">[BORROWING SUBSIDIARY]</td>
  </tr>
  <tr>
    <B>
<td width="56%"></td>
    </B>
    <td width="44%">By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></td>
  </tr>
  <tr>
    <B>
<td width="56%"></td>
    </B>
    <td width="44%">&nbsp;&nbsp; Its&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></td>
  </tr>
</table>
<P align="center">2</P><B>
<P align=center>Exhibit&nbsp;B</P>
<P align=center>Domestic Swing Line Note</P></B>
<P align=justify>$__________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
____________</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For Value Received, the undersigned, [General Binding
Corporation] [Borrowing Subsidiary], a ____________ corporation (the
<I>"Borrower"</I>), promises to pay to the order of Harris Trust and Savings
Bank (the <I>"Bank"</I>) on the Revolving Credit Termination Date of the
hereinafter defined Credit Agreement, at the principal office of Harris Trust
and Savings Bank, in Chicago, Illinois, the principal sum of
(i)&nbsp;_________________________________________ ($______________________), or
(ii)&nbsp;such lesser amount as may at the time of the maturity hereof, whether
by acceleration or otherwise, be the aggregate unpaid principal amount of all
Domestic Swing Line Loans owing from the Borrower to the Bank under the Domestic
Swing Line Commitment provided for in the Credit Agreement.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Bank shall record on its books or records or on a schedule
attached to this Domestic Swing Line Note, which is a part hereof, each Domestic
Swing Line Loan made by it pursuant to the Credit Agreement, together with all
payments of principal and interest and the principal balances from time to time
outstanding hereon and the interest rates and Interest Period applicable
thereto, provided that prior to the transfer of this Domestic Swing Line Note
all such amounts, interest rates and Interest Periods shall be recorded on a
schedule attached to this Domestic Swing Line Note. The record thereof, whether
shown on such books or records or on a schedule to this Domestic Swing Line
Note, shall be <I>prima facie</I> evidence of the same; <I>provided,
however,</I> that the failure of the Bank to record any of the foregoing or any
error in any such record shall not limit or otherwise affect the obligation of
the Borrower to repay all Domestic Swing Line Loans made to it pursuant to the
Credit Agreement together with accrued interest thereon.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This Domestic Swing Line Note is one of the Domestic Swing Line
Notes referred to in the Second Amended and Restated Multicurrency Credit
Agreement dated as of January&nbsp;11, 2002, among General Binding Corporation,
one or more Borrowing Subsidiaries from time to time party thereto, Harris Trust
and Savings Bank, as Administrative Agent, and the Banks party thereto (as
amended, the <I>"Credit Agreement"</I>) and is secured by, among other things,
the Collateral Documents, and this Domestic Swing Line Note and the holder
hereof are entitled to all the benefits and security provided for thereby or
referred to therein, to which Credit Agreement reference is hereby made for a
statement thereof. All defined terms used in this Domestic Swing Line Note,
except terms otherwise defined herein, shall have the same meaning as in the
Credit Agreement. This Domestic Swing Line Note shall be governed by and
construed in accordance with the internal laws of the State of Illinois.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Voluntary prepayments may be made hereon, certain prepayments
are required to be made hereon, and this Domestic Swing Line Note may be
declared due prior to the expressed maturity hereof, all in the events, on the
terms and in the manner as provided for in the Credit Agreement.</P>
<P align=center>1</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Borrower hereby waives demand, presentment, protest or
notice of any kind hereunder.</P>
<table border="0" width="100%">
  <tr>
    <B>
<td width="56%"></td>
    </B>
    <td width="44%">[GENERAL BINDING CORPORATION]</td>
  </tr>
  <tr>
    <td width="56%"></td>
    <td width="44%">[BORROWING SUBSIDIARY</td>
  </tr>
  <tr>
    <B>
<td width="56%"></td>
    </B>
    <td width="44%">By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></td>
  </tr>
  <tr>
    <B>
<td width="56%"></td>
    </B>
    <td width="44%">&nbsp;&nbsp; Its&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></td>
  </tr>
</table>
<P align=center>2</P>
<B>
<P align=center>Exhibit&nbsp;C</P>
<P align=center>Multicurrency Swing Line Note</P></B>
<P align=right>____________, ______</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For Value Received, the undersigned, [General Binding
Corporation] [Borrowing Subsidiary], a ____________ corporation (the
<I>"Borrower"</I>), promises to pay to the order of LaSalle Bank National
Association (the <I>"Bank"</I>) on the Revolving Credit Termination Date of the
hereinafter defined Credit Agreement, at such office as the Bank has previously
notified the Borrower, in the currency of such Multicurrency Swing Line Loan in
accordance with Section&nbsp;4.1 of the Credit Agreement, the aggregate unpaid
principal amount of all Multicurrency Swing Line Loans made by the Bank to the
Borrower pursuant to the Credit Agreement, together with interest on the
principal amount of each Multicurrency Swing Line Loan from time to time
outstanding hereunder at the rates, and payable in the manner and on the dates,
specified in the Credit Agreement.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Bank shall record on its books or records or on a schedule
attached to this Multicurrency Swing Line Note, which is a part hereof, each
Multicurrency Swing Line Loan made by it pursuant to the Credit Agreement,
together with all payments of principal and interest and the principal balances
from time to time outstanding hereon, the currency thereof and the interest rate
and Interest Period applicable thereto, provided that prior to the transfer of
this Multicurrency Swing Line Note all such amounts, currencies, interest rates
and Interest Periods shall be recorded on a schedule attached to this
Multicurrency Swing Line Note. The record thereof, whether shown on such books
or records or on a schedule to this Multicurrency Swing Line Note, shall be
<I>prima facie</I> evidence of the same; <I>provided, however,</I> that the
failure of the Bank to record any of the foregoing or any error in any such
record shall not limit or otherwise affect the obligation of the Borrower to
repay all Multicurrency Swing Line Loans made to it pursuant to the Credit
Agreement together with accrued interest thereon.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This Multicurrency Swing Line Note is one of the Multicurrency
Swing Line Notes referred to in the Second Amended and Restated Multicurrency
Credit Agreement dated as of January&nbsp;11, 2002, among General Binding
Corporation, one or more Borrowing Subsidiaries from time to time party thereto,
Harris Trust and Savings Bank, as Administrative Agent, and the Banks party
thereto (the <I>"Credit Agreement"</I>) and is secured by, among other things,
the Collateral Documents, and this Multicurrency Swing Line Note and the holder
hereof are entitled to all the benefits and security provided for thereby or
referred to therein, to which Credit Agreement reference is hereby made for a
statement thereof. All defined terms used in this Multicurrency Swing Line Note,
except terms otherwise defined herein, shall have the same meaning as in the
Credit Agreement. This Multicurrency Swing Line Note shall be governed by and
construed in accordance with the internal laws of the State of Illinois.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Voluntary prepayments may be made hereon, certain prepayments
are required to be made hereon, and this Multicurrency Swing Line Note may be
declared due prior to the&nbsp;</P>
<P align=center>1</P>
<P align=justify> expressed maturity hereof, all in the events, on the
terms and in the manner as provided for in the Credit Agreement.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Borrower hereby waives demand, presentment, protest or
notice of any kind hereunder.</P>
<B>
<table border="0" width="100%">
  <tr>
    <td width="56%"></td>
    <td width="44%">[GENERAL BINDING CORPORATION]</td>
  </tr>
  <tr>
    <td width="56%"></td>
    <td width="44%">[BORROWING SUBSIDIARY</td>
  </tr>
  <tr>
    <td width="56%"></td>
    <td width="44%">By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></td>
  </tr>
  <tr>
    <td width="56%"></td>
    <td width="44%">&nbsp;&nbsp; Its&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></td>
  </tr>
</table>
</B>
<P align=center>2</P><B>
<P align=center>Exhibit&nbsp;D<BR><BR>Notice of Payment Request</P></B>
<P align=justify>[Name of Bank]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
[Date]<br>
[Address]</P>
<P align=justify>Attention:</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Reference is made to the Second Amended and Restated
Multicurrency Credit Agreement, dated as of January&nbsp;11, 2002 among General
Binding Corporation, one or more Borrowing Subsidiaries from time to time party
thereto, Harris Trust and Savings Bank, as Administrative Agent, and the Banks
party thereto (the <I>"Credit Agreement"</I>). Capitalized terms used herein and
not defined herein have the meanings assigned to them in the Credit Agreement.
[[General Binding Corporation] [Borrowing Subsidiary] has failed to pay its
Reimbursement Obligation in the amount of $__________. Your Bank's Revolver
Percentage of the unpaid Reimbursement Obligation is $____________] or [the
Administrative Agent has been required to return a payment by [General Binding
Corporation] [Borrowing Subsidiary] of a Reimbursement Obligation in the amount
of $____________. Your Bank's Revolver Percentage of the returned Reimbursement
Obligations is $____________.]</P>
<p><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Very truly yours</p>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
HARRIS TRUST AND SAVINGS BANK, as<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Administrative Agent for the Banks</p>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>
<FONT face="Times,Times New Roman">
<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Its&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></p>
<B>
<P align=center>&nbsp;</P>
<P align=center>Exhibit&nbsp;E</P>
<P align=center>[Intentionally Deleted]</P></B>
<P>&nbsp;</P><B>
<P align=center>Exhibit&nbsp;F</P>
<P align=center>Compliance Certificate</P></B>
<P align=justify>To: The Banks parties to the<br>
Credit Agreement<br>
described below</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This Compliance Certificate is furnished pursuant to that
certain Second Amended and Restated Multicurrency Credit Agreement dated as of
January&nbsp;11, 2002, among General Binding Corporation, one or more Borrowing
Subsidiaries from time to time party thereto, the Banks signatory thereto and
Harris Trust and Savings Bank, as Administrative Agent for the Banks. Unless
otherwise defined herein, the terms used in this Compliance Certificate have the
meanings ascribed thereto in the Credit Agreement.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Undersigned Hereby Certifies That:</P>
<DIR>
<DIR>
<P align=justify>1. I am the duly elected _______________ of the Company;</P>
<P align=justify>2. I have reviewed the terms of the Credit Agreement and I have
made, or have caused to be made under my supervision, a detailed review of the
transactions and conditions of the Company and its Subsidiaries during the
accounting period covered by the attached financial statements;</P>
<P align=justify>3. The examinations described in Paragraph 2 did not disclose,
and I have no knowledge of, the existence of any condition or event which
constitutes a Default or Event of Default during or at the end of the accounting
period covered by the attached financial statements or as of the date of this
Certificate, except as set forth below; and</P>
<P align=justify>4. Schedule I attached hereto sets forth financial data and
computations evidencing the Company's compliance with certain covenants of the
Agreement, all of which data and computations are true, complete and
correct.</P></DIR></DIR>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Described below are the exceptions, if any, to Paragraph&nbsp;3
by listing, in detail, the nature of the condition or event, the period during
which it has existed and the action which the Company has taken, is taking, or
proposes to take with respect to each such condition or event:</P>
<P
align=justify>_________________________________________________________________________</P>
<P>_________________________________________________________________________</P>
<P>_________________________________________________________________________</P>
<P>_________________________________________________________________________</P>
<P align="center">1</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The foregoing certifications, together with the computations
set forth in Schedule I hereto and the financial statements delivered with this
Certificate in support hereof, are made and delivered this ____ day of
______________, 20__.</P>
<P>&nbsp;</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Name:&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> </P>
<P>&nbsp; </P>
<P align="center">2 </P>
<P align=center>Schedule I to Compliance Certificate</P>
<P align=center>General Binding Corporation</P>
<P align=center>Compliance Calculations for Second Amended and Restated
Multicurrency Credit Agreement<BR>Dated as of ________________,
20___<BR><BR>Calculations as of ________________, 20__</P>
<P>A. Current Ratio (Section&nbsp;12.16 of the
Agreement)</P></FONT>
<TABLE cellSpacing=0 cellPadding=5 width=635 border=0>

  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>1. Current Assets</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>A1</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>2. Current Liabilities (excluding
      Loans)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>A2</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>3. Ratio of Line&nbsp;A1 to
      Line&nbsp;A2</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align="left">____: 1.0<br>
      &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      A3&nbsp;</FONT></P>
    </TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>4. Line&nbsp;A3 Ratio must be greater
      than:</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>1.25: 1.0</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="77%" colSpan=2>
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>5. Is Company in Compliance? (Circle Yes or
      No)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Yes / No</FONT></P></TD></TR></TABLE>
<FONT face="Times,Times New Roman">
<P>B. Leverage Ratio (Section&nbsp;12.17(a) of the
Agreement)</P></FONT>
<TABLE cellSpacing=0 cellPadding=5 width=635 border=0>

  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>1. Total Consolidated Debt</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>B1</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>2. Consolidated Net Income for the most recent applicable fiscal
      quarters of the Company</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>B2</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>3. Federal, state and local income taxes for the same
      period</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>B3</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>4. Consolidated Interest Expense for the same
      period</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>B4</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>5. Depreciation of fixed assets for the same
      period</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>B5</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colspan="3">
      <p align="center">1</TD>
  </TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>6. Amortization for the same
    period</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>B6</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>7. Net earnings for the same period for certain unconsolidated Persons
      as per clause (y) of definition of Consolidated EBITDA
      </P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>B7</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>8. Net losses for the same period for certain unconsolidated Persons as
      per clause (z) of definition of Consolidated
      EBITDA</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$____________<BR>B8</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>9. Cash and Non-cash gains and non-cash losses on sales and
      dispositions and other extraordinary gains for the same period as per
      proviso (a) of definition of Consolidated
      EBITDA</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>B9</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>10. Non-cash losses from impairment of goodwill per FASB&nbsp;142 as
      per proviso (b) of definition of Consolidated
      EBITDA</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>B10</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>11. Pro-forma additions to EBITDA on Acquisitions for the same period
      as per proviso (c) of definition of Consolidated
      EBITDA</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>B11</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>12. Pro-forma deductions from EBITDA on Divestitures for the same
      period as per proviso (c) of definition of Consolidated
      EBITDA</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>B12</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>13. For periods after September&nbsp;30, 2001, Adjustments to EBITDA
      (as defined) for the same period [attach schedule showing break out by
      business unit per Schedule&nbsp;8.1]</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>B13</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>13A. For fiscal quarters ending March&nbsp;31, 2001, June&nbsp;30, 2001
      and September&nbsp;30, 2001, use deemed Consolidated EBITDA amounts from
      definition of "Consolidated EBITDA" in lieu of actual
      amounts</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>B13A</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colspan="3">
      <p align="center">2</TD>
  </TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>14. Add Lines&nbsp;B2-B6, B8, B10, B11, B13 and B13A but subtract Lines
      B7 and B12 and add or subtract, as applicable, Line&nbsp;B9, and add line
      B13A as applicable (Consolidated
    EBITDA)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>B14</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>15. Ratio of Line&nbsp;B1 to B14 (Leverage
      Ratio)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>_____ : 1.0<BR>B15</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="77%" colSpan=2>
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>16. Line&nbsp;B15 Ratio must be less than or equal
      to:</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>_____ : 1.0</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="77%" colSpan=2>
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>17. Is Company in Compliance? (Circle Yes or
      No)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Yes / No</FONT></P></TD></TR></TABLE>
<FONT face="Times,Times New Roman">
<P>C. Senior leverage Ratio (Section&nbsp;12.17(b) of the
Agreement)</P></FONT>
<TABLE cellSpacing=0 cellPadding=5 width=635 border=0>

  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>1. Senior Consolidated Debt</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>C1</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>2. Consolidated EBITDA for the most recent four fiscal quarters of the
      Company (from Line&nbsp;B14 above)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>C2</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>3. Ratio of Line C1 to C2 (Senior Leverage
      Ratio)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>_____ : 1.0<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      C3</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="77%" colSpan=2>
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>4. Line&nbsp;C3 Ratio must be less than or equal
      to:</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>_____ : 1.0</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="77%" colSpan=2>
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>5. Is Company in Compliance? (Circle Yes or
      No)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Yes / No</FONT></P></TD></TR></TABLE>
<FONT face="Times,Times New Roman">
<P>D. Interest Coverage Ratio (Section&nbsp;12.18 of the
Agreement)</P></FONT>
<TABLE cellSpacing=0 cellPadding=5 width=629 border=0>

  <TR>
    <TD vAlign=top width="75%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>1. Consolidated Interest Expense for the most recent four fiscal
      quarters of the Company </P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>D1</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="75%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>2. Consolidated EBITDA for the same period (from Line B14
      above)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>D2</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="75%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>3. Ratio of Line&nbsp;D2 to
      Line&nbsp;D1</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P>_____ : 1.0<BR>D3</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="75%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>4. Line&nbsp;D3 ratio must not be less
      than:</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P>1.50 : 1.0</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="75%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>5. Is Company in Compliance? (Circle Yes or
      No)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P>Yes / No</FONT></P></TD></TR></TABLE>
<FONT face="Times,Times New Roman">
<P>E. Consolidated EBITDA (Section&nbsp;12.19 of the
Agreement)</P></FONT>
<TABLE cellSpacing=0 cellPadding=5 width=635 border=0>

  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>1. Consolidated EBITDA (from Line B14 above) for the most recent four
      fiscal quarters of the Company</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>E1</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="64%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>2. Line E1 must not be less than:</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="13%">&nbsp;</TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>E2</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>
      <p align="center">3</TD>
  </TR>
  <TR>
    <TD vAlign=top width="77%" colSpan=2>
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>3. Is Company in Compliance? (Circle Yes or
      No)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="23%"><FONT face="Times,Times New Roman">
      <P>Yes / No</FONT></P></TD></TR></TABLE>
<FONT face="Times,Times New Roman">
<P>F. Limitation on Permitted Future Foreign Subsidiary Support
(Sections&nbsp;12.14(k) and 12.22(f)(ii) of the
Agreement)</P></FONT>
<TABLE cellSpacing=0 cellPadding=5 width=629 border=0>

  <TR>
    <TD vAlign=top width="78%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>1. Capital expenditures under clause&nbsp;(i) of definition since
      Effective Date</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>F1</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="78%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>2. Maximum permitted amount</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%"><FONT face="Times,Times New Roman">
      <P align=center>$12,000,000<BR>F2</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="78%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>3. Payment of cash charges for 80/20 initiatives under clause&nbsp;(ii)
      of definition since Effective Date</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>F3</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="78%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>4. Maximum permitted amount</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%"><FONT face="Times,Times New Roman">
      <P align=center>$7,000,000<BR>F4</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="78%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>5. Incremental working capital financing under clause&nbsp;(iii)(x) of
      definition since Effective Date</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>F5</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="78%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>6. Maximum permitted amount</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%"><FONT face="Times,Times New Roman">
      <P align=center>$5,000,000<BR>F6</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="78%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>7. Refinancing Indebtedness of Foreign Subsidiaries outstanding on the
      Effective Date for working capital financing under clause (iii)(y) of
      definition since Effective Date</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>F7</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="78%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>8. Maximum permitted amount</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%"><FONT face="Times,Times New Roman">
      <P align=center>$14,500,000<BR>F8</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="78%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>9. Investments in China under clause&nbsp;(iv) of definition since
      Effective Date</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>F9</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="78%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>10. Maximum permitted amount</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%"><FONT face="Times,Times New Roman">
      <P align=center>$500,000<BR>F10</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="78%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>11. Is Company in Compliance? (Circle Yes or
      No)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%"><FONT face="Times,Times New Roman">
      <P>Yes / No</FONT></P></TD></TR></TABLE><FONT
face="Times,Times New Roman">
<P>G. Limitation on other Investments in Foreign Subsidiaries and Minority
Foreign Investments (Section&nbsp;12.14(l) of the
Agreement)</P></FONT>
<TABLE cellSpacing=0 cellPadding=5 width=629 border=0>

  <TR>
    <TD vAlign=top width="78%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>1. Amount of Investments in Foreign Subsidiaries and Minority Foreign
      Investments</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>G1</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colspan="2">
      <p align="center">4</TD>
  </TR>
  <TR>
    <TD vAlign=top width="78%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>2. Amount existing on September&nbsp;30,
      2001</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>G2</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="78%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>3. Is Company in Compliance? (Circle Yes or
      No)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%"><FONT face="Times,Times New Roman">
      <P>Yes / No</FONT></P></TD></TR></TABLE><FONT
face="Times,Times New Roman">
<P>H. Indebtedness (Section&nbsp;12.22 of the
Agreement)</P></FONT>
<TABLE cellSpacing=0 cellPadding=5 width=629 border=0 height="507">

  <TR>
    <TD vAlign=top width="78%" height="78">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>1. Purchase money indebtedness and Capitalized Lease Obligations (not
      in excess of $5,000,000)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%" height="78"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>H1</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="78%" height="116">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>2. Indebtedness of Foreign Subsidiaries extended by third parties
      outstanding on Effective Date or amounts refinancing such amounts (not in
      excess of $14,500,000)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%" height="116"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>H2</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="78%" height="97">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>3. Indebtedness of Foreign Subsidiaries extended by third parties
      incurred since Effective Date (not in excess of
      $5,000,000)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%" height="97"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>H3</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="78%" height="59">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>4. Other Indebtedness as per Section 12.22(i) (not in excess of
      $3,000,000)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%" height="59">
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>$_______________<BR>H4</P></DIR></DIR></FONT></TD></TR>
  <TR>
    <TD vAlign=top width="78%" height="78">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>5. Is Company in Compliance with lines H1-H4 and other provisions of
      Section 12.22? (Circle Yes or No)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%" height="78">
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>Yes / No</P></DIR></DIR></FONT></TD></TR></TABLE><FONT
face="Times,Times New Roman">
<P>I. Consolidated Capital Expenditures (Section&nbsp;12.23 of the
Agreement)</P></FONT>
<TABLE cellSpacing=0 cellPadding=5 width=629 border=0>

  <TR>
    <TD vAlign=top width="78%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>1. Consolidated Capital Expenditures for relevant
      period</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>I1</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="78%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>2. Applicable overall limitation for relevant
      period</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%"><FONT face="Times,Times New Roman">
      <P align=center>$_______________<BR>I2</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="78%">
      <DIR>
      <DIR>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>3. Is Company in Compliance? (Circle Yes or
      No)</P></DIR></DIR></DIR></DIR></FONT></TD>
    <TD vAlign=top width="22%"><FONT face="Times,Times New Roman">
      <P>Yes / No</FONT></P></TD></TR></TABLE><FONT
face="Times,Times New Roman">
<P align=center>5</P>
<B>
<P align=center>Exhibit&nbsp;G</P>
<P align=center>Form of Election to Participate</P></B>
<P align=right>___________, 20__</P>
<P align=justify>Harris Trust And Savings Bank,<br>
as Administrative Agent for the Banks party to the<br>
Credit Agreement referred to below<br>
111 West Monroe Street<br>
Chicago, Illinois 60690</P>
<P align=justify>Dear Sirs:</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Reference is made to the Second Amended and Restated
Multicurrency Credit Agreement, dated as of January&nbsp;11, 2002 (the
<I>"Credit Agreement"</I>) among General Binding Corporation, one or more
Borrowing Subsidiaries from time to time party thereto, the Banks named therein,
Harris Trust and Savings Bank as Administrative Agent for the Banks. Capitalized
terms used and not defined herein have the meanings assigned to them in the
Credit Agreement.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The undersigned, [name of Borrowing Subsidiary], a
[jurisdiction of incorporation] corporation, hereby elects to be a Borrowing
Subsidiary for purposes of the Credit Agreement, effective from the date hereof
until an Election to Terminate shall have been delivered on behalf of the
undersigned in accordance with the Credit Agreement. The undersigned confirms
that (i) it is a Wholly-Owned Subsidiary of the Borrower hereunder, (ii) it has
irrevocably appointed the Borrower as its agent under Section 5.10 of the Credit
Agreement; (iii) the execution, delivery and performance by it of the Credit
Agreement, this Election to Participate and the Notes which it has executed and
delivered are within its corporate powers, have been duly authorized by all
necessary corporate action, requires no action by or in respect of, or filing
with, any governmental body, agency or official and do not contravene, or
constitute a default under, any provision of applicable law or regulation or of
its charter or by-laws or of any agreement or instrument to which it is a party
or is subject, or by which it, or its property, is bound, or of any judgment,
injunction, order, decree or other instrument binding upon it or result in the
creation or imposition of any Lien on any asset of the Borrower or any of its
Subsidiaries, (iv) the Credit Agreement and the Notes constitute valid and
binding obligations of the undersigned subject to general principles of equity
and bankruptcy, reorganization, insolvency and similar laws of general
application to enforcement of creditors' rights and (v) the representations and
warranties set forth in Section 9 of the Credit Agreement are true and correct
as to the undersigned as of the date hereof, and the undersigned hereby agrees
to perform all the obligations of a Borrowing Subsidiary under, and to be bound
in all respects by the terms of, the Credit Agreement, including without
limitation Section 17.16 thereof, as if the undersigned were a direct signatory
party thereto.</P>
<P align=center>1</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All notices to the undersigned under the Credit Agreement
should be directed to General Binding Corporation at its address for notices
specified pursuant to Section 17.8 of the Credit Agreement. This instrument
shall be construed in accordance with and governed by the internal laws of the
State of Illinois.</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Very truly yours,</P>
<P>&nbsp;&nbsp;&nbsp;</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT
face="Times,Times New Roman">
[Name Of Borrowing Subsidiary]</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By<br>
&nbsp;&nbsp;&nbsp;</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT
face="Times,Times New Roman">
Name&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> </P>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<P
align=justify>&nbsp;</P></DIR></DIR></DIR></DIR></DIR></DIR></DIR></DIR></DIR></DIR></DIR></DIR></DIR></DIR>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The undersigned hereby confirms that [name of Borrowing
Subsidiary] is a Borrowing Subsidiary for purposes of the Credit Agreement
described above.</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
General Binding Corporation</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Name&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></P>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<P
align=justify>&nbsp;</P></DIR></DIR></DIR></DIR></DIR></DIR></DIR></DIR></DIR></DIR></DIR></DIR></DIR></DIR>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Receipt of the above Election to Participate is hereby
acknowledged on and as of __________________</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Harris Trust And Savings Bank<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
as Administrative Agent for the<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Banks</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Name&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></P>
<P
align=center>2</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </P>
<B>
<P align=center>Exhibit&nbsp;H</P>
<P align=center>Form of Election to Terminate</P></B>
<P align="right">___________, _____</P>
<P align=justify>Harris Trust And Savings Bank,<br>
as Administrative Agent for the Banks party to the<br>
Credit Agreement referred to below<br>
111 West Monroe Street<br>
Chicago, Illinois 60690</P>
<P align=justify>Dear Sirs:</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Reference is made to the Second Amended and Restated
Multicurrency Credit Agreement, dated as of January&nbsp;11, 2002 (the
<I>"Credit Agreement"</I>) among General Binding Corporation, one or more
Borrowing Subsidiaries from time to time party thereto, the Banks named therein,
Harris Trust and Savings Bank as Administrative Agent for the Banks. Capitalized
terms used and not defined herein have the meanings assigned to them in the
Credit Agreement.</P>
<P align=justify>The undersigned, [name of Borrowing Subsidiary], a
[jurisdiction of incorporation] corporation, hereby elects to terminate its
status as a Borrowing Subsidiary for purposes of the Credit Agreement, effective
as of the date hereof. The undersigned hereby represents and warrants that all
principal and interest on all Notes of the undersigned and all other amounts
payable by the undersigned pursuant to the Credit Agreement have been paid in
full on or prior to the date hereof. Notwithstanding the foregoing, this
Election to Terminate shall not affect any obligation of the undersigned under
the Credit Agreement or under any Note heretofore incurred.</P>
<P align=justify>This instrument shall be construed in accordance with and
governed by the internal laws of the State of Illinois</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Very truly yours,</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
[Name Of Borrowing Subsidiary]</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Name&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> </P>
<p align="center">1</p>
<P align=justify>The undersigned hereby confirms that the status of [name of
Borrowing Subsidiary] as a Borrowing Subsidiary for purposes of the Credit
Agreement described above is terminated as of the date hereof.</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
General Binding Corporation</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Name&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></P>
<P align="center">2</P>
<P align=justify>&nbsp;</P>
<P align=justify>Receipt of the above Election to Terminate is hereby
acknowledged on and as of ______________________.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Harris Trust And Savings Bank<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
as Administrative Agent for the<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Banks</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Name&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></P>
<P align=justify>&nbsp;</P>
<B>
<P align=center>Exhibit&nbsp;I</P></B>
<P align=justify>To each of the Banks named in the<br>
</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT
face="Times,Times New Roman">
hereinafter defined Credit Agreement </P>
<P align=justify>c/o Harris Trust And Savings Bank,<br>
as Administrative Agent for the Banks party to the<br>
Credit Agreement referred to below<br>
111 West Monroe Street<br>
Chicago, Illinois 60690</P>
<P align=justify>Gentlemen:</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We have acted as counsel to [Name of Borrowing Subsidiary], a
_____________ corporation (the <I>"Borrower"</I>), in connection with the
authorization of and the execution and delivery of the Second Amended and
Restated Multicurrency Credit Agreement, dated as of January&nbsp;11, 2002 (the
<I>"Credit Agreement"</I>) among General Binding Corporation, one or more
Borrowing Subsidiaries from time to time party thereto, the Banks named therein,
Harris Trust and Savings Bank as Administrative Agent for the Banks. All
capitalized terms used and not defined herein shall have the meanings assigned
to them in the Credit Agreement.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In our capacity as such counsel, we have made such
investigations of fact and have considered such questions of law as we have
deemed necessary for the purposes of this opinion, which is delivered to you
pursuant to Section 11.3(a) of the Credit Agreement. Based on the foregoing, it
is our opinion that:</P>
<DIR>
<DIR>
<P align=justify>(i) the Borrower is duly organized, validly existing and in
good standing under the laws of the jurisdiction of its incorporation; has the
corporate power to carry on its present business; is duly licensed or qualified
in all states and jurisdictions wherein the nature of the business carried on by
it or the assets and properties owned or leased by it requires such
qualification or licensing; and the Borrower has the corporate power and
authority to enter into the Credit Agreement, to make the borrowings therein
provided for, to issue its Notes, and to perform each and all of the matters and
things therein provided for.</P>
<P align=justify>(ii) The Credit Agreement and the Notes delivered on the date
hereof have been duly authorized, executed, and delivered by and on behalf of
the Borrower and all constitute legal, valid, and enforceable obligations of the
Borrower, except to the extent affected by bankruptcy, insolvency or other
similar laws relating to or affecting the enforcement of creditors' rights and
remedies generally and general principles of equity.</P>
<P align=justify>(iii) The Credit Agreement and the Notes, do not, nor will the
performance or observance by the Borrower of any of the matters and things
therein provided for, contravene any provision of law applicable to the
Borrower, any judgment or decree&nbsp;</P>
</DIR></DIR>
<P align=center>1</P>
<DIR>
<DIR>
<P align=justify> applicable to the Borrower, the Articles of
Incorporation, or By-laws of the Borrower, or, any indenture or material
agreement to which the Borrower is a party or by which it or any of its
properties is bound.</P>
<P align=justify>(iv) All authorizations, consents, approvals, filings,
registrations, exemptions and regulatory approvals necessary to permit execution
of the Credit Agreement and performance of its obligations thereunder by the
Borrower, and to permit borrowings by the Borrower under the Credit Agreement
and the issuance of the Notes, have been obtained and remain in full force and
effect.</P>
<P align=justify>(v) There is no litigation or governmental proceeding pending
or to the best of our knowledge threatened, against the Borrower which could
reasonably be expected to (i) materially adversely affect the business and
properties of the Borrower on a consolidated basis or (ii) impair the validity
or enforceability of the Credit Agreement or the Notes or materially impair the
ability of the Borrower to perform its obligations under the Credit Agreement or
the Notes.</P>
<P align=justify>[(vi) Except for ________, the execution and delivery of the
Agreement and the Notes are not subject to any tax, duty, fee or other charge,
including, without limitation, any registration or transfer tax, stamp duty or
similar levy, imposed by or within [insert jurisdiction of incorporation] or any
political subdivision or taxing authority thereof or therein.</P>
<P align=justify>(vii) Neither the Borrower nor its property has any right of
immunity on grounds of sovereignty or otherwise from jurisdiction, attachment
(before or after judgment) or execution in respect of any action or proceeding
relating in any way to the Agreement or the Notes that may be brought in the
courts of [insert jurisdiction of incorporation].</P>
<P align=justify>(viii) There are no legal impediments to your access to the
courts of [insert relevant jurisdiction] nor shall you be required to qualify
under any statute or law or pay any franchise tax, stamp tax or similar fee to
gain such access, whether in respect of a direct suit on the Credit Agreement or
a proceeding to register a judgment obtained before a court in the United
States, except for such fees as would be required of plaintiffs, both resident
and non-resident, in seeking access to the courts of [insert relevant
jurisdiction]; nor except for ________, will you be resident, domiciled,
carrying on business or otherwise subject to taxation in [insert relevant
jurisdiction] by reason only of your execution, delivery or performance the
Credit Agreement or enforcement of the Credit Agreement or the Notes;</P>
<P align=justify>(ix) The Borrower has the power to submit, and pursuant to the
Credit Agreement has legally, validly, effectively and irrevocably submitted, to
the jurisdiction of the courts of the State of Illinois and of the United States
for the Northern District of Illinois in respect of any action or proceeding
relating in any way to the Credit Agreement or the Notes.</P>
</DIR></DIR>
<P align=center>2</P>
<DIR>
<DIR>
<P align=justify>(x) The choice by the parties to the Credit Agreement of the
law of the State of Illinois as governing law should be recognized by the courts
of ___________ as legal, valid and binding.]* </P></DIR></DIR>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In rendering the opinions expressed above, we have examined
originals, or copies of originals certified to our satisfaction, of such
agreements, documents, certificates and other statements of government officials
and corporate officers and such other papers and evidence as we have deemed
relevant and necessary as a basis for this opinion.</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Respectfully
submitted,</P>
<P align="center">3</P><B>
<P align=center>Exhibit&nbsp;J</P>
<P align=center>Subsidiary Guarantee Agreement</P></B>
<P align=right>____________, _____</P>
<P align=justify>Harris Trust And Savings Bank,<br>
as Administrative Agent for the Banks party to the<br>
Credit Agreement referred to below<br>
111 West Monroe Street<br>
Chicago, Illinois 60690</P>
<P align=justify>Dear Sirs:</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Reference is made to the Second Amended and Restated
Multicurrency Credit Agreement, dated as of January&nbsp;11, 2002 (the
<I>"Credit Agreement"</I>) among General Binding Corporation, one or more
Borrowing Subsidiaries from time to time party thereto, the Banks named therein,
Harris Trust and Savings Bank as Administrative Agent for the Banks. Capitalized
terms used and not defined herein have the meanings assigned to them in the
Credit Agreement.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The undersigned, [name of Guarantor], a [jurisdiction of
organization] [type of entity], hereby elects to be a <I>"Guarantor"</I> for all
purposes of the Credit Agreement, effective from the date hereof and the
undersigned hereby agrees to perform all the obligations of a Guarantor under,
and to be bound in all respects by the terms of, the Credit Agreement, including
without limitation Section 16 thereof, as if the undersigned were a direct
signatory party thereto.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The undersigned confirms that (i)&nbsp;the execution, delivery
and performance by it of this Subsidiary Guarantee Agreement is within its
corporate powers, have been duly authorized by all necessary corporate action,
requires no action by or in respect of, or filing with, any governmental body,
agency or official and do not contravene, or constitute a default under, any
provision of applicable law or regulation or of its charter or by-laws or of any
agreement or instrument to which the Company or it is a party or is subject, or
by which the Company or it, or the Company's or its property, is bound, or of
any judgment, injunction, order, decree or other instrument binding upon it or
result in the creation or imposition of any Lien on any asset of the Company or
any of its Subsidiaries and (ii) the representations and warranties set forth in
Section 9 of the Credit Agreement are true and correct as to the undersigned as
of the date hereof.</P>
<P align=center>1</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This Agreement shall be construed in accordance with and
governed by the internal laws of the State of Illinois.</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Very truly yours,</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
[Name of Guarantor]</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Name&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></P>
<P align=center>2</P>
<B>
<P align=center>Exhibit&nbsp;K</P>
<P align=center>Foreign Investment List</P></B>
<P align=justify>To: The Banks parties to the<br>
Credit Agreement<br>
described below</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This Foreign Investment List is furnished pursuant to that
certain Second Amended and Restated Multicurrency Credit Agreement dated as of
January&nbsp;11, 2002, among General Binding Corporation, one or more Borrowing
Subsidiaries from time to time party thereto, the Banks signatory thereto and
Harris Trust and Savings Bank, as Administrative Agent for the Banks. Unless
otherwise defined herein, the terms used in this Compliance Certificate have the
meanings ascribed thereto in the Credit Agreement.</P></FONT>
<P align=center>
<CENTER>
<TABLE cellSpacing=1 cellPadding=7 width=474 border=0>

  <TR>
    <TD vAlign=top width="76%">&nbsp;</TD>
    <TD vAlign=top width="24%"><FONT face="Times,Times New Roman">
      <P align=center>Value<br>
      (000s omitted)</FONT> </P>
    </TD></TR>
  <TR>
    <TD vAlign=top width="76%"><B><FONT face="Times,Times New Roman">
      <P>Investments permitted under Section 12.14 (h)(ii)</B></FONT></P></TD>
    <TD vAlign=top width="24%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="76%"><FONT face="Times,Times New Roman">
      <P>Investments</FONT></P></TD>
    <TD vAlign=top width="24%"><FONT face="Times,Times New Roman">
      <P align=right>$__________</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="76%"><FONT face="Times,Times New Roman">
      <P>Loans and advances</FONT></P></TD>
    <TD vAlign=top width="24%"><FONT face="Times,Times New Roman">
      <P align=right>$__________</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="76%"><FONT face="Times,Times New Roman">
      <P>Guarantees</FONT></P></TD>
    <TD vAlign=top width="24%"><FONT face="Times,Times New Roman">
      <P align=right>$__________</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="76%"><B><FONT face="Times,Times New Roman">
      <P>Investments permitted under Section 12.14 (k)</B></FONT></P></TD>
    <TD vAlign=top width="24%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="76%"><FONT face="Times,Times New Roman">
      <P>Investments</FONT></P></TD>
    <TD vAlign=top width="24%"><FONT face="Times,Times New Roman">
      <P align=right>$__________</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="76%"><FONT face="Times,Times New Roman">
      <P>Loans and advances</FONT></P></TD>
    <TD vAlign=top width="24%"><FONT face="Times,Times New Roman">
      <P align=right>$__________</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="76%"><FONT face="Times,Times New Roman">
      <P>Guarantees</FONT></P></TD>
    <TD vAlign=top width="24%"><FONT face="Times,Times New Roman">
      <P align=right>$__________</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="76%"><B><FONT face="Times,Times New Roman">
      <P>Investments permitted under Section 12.14 (l)</B></FONT></P></TD>
    <TD vAlign=top width="24%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="76%"><FONT face="Times,Times New Roman">
      <P>Investments</FONT></P></TD>
    <TD vAlign=top width="24%"><FONT face="Times,Times New Roman">
      <P align=right>$__________</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="76%"><FONT face="Times,Times New Roman">
      <P>Loans and advances</FONT></P></TD>
    <TD vAlign=top width="24%"><FONT face="Times,Times New Roman">
      <P align=right>$__________</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="76%"><FONT face="Times,Times New Roman">
      <P>Guarantees</FONT></P></TD>
    <TD vAlign=top width="24%"><FONT face="Times,Times New Roman">
      <P align=right>$__________</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="76%">
      <OL>
        <OL>
          <OL>
            <OL><B><FONT face="Times,Times New Roman">
              <P align=justify>
              <LI>Total Foreign Investment</LI></OL></OL></OL></OL></B></FONT></TD>
    <TD vAlign=top width="24%"><FONT face="Times,Times New Roman">
      <P align=right><BR>$__________</FONT></P></TD></TR></TABLE></CENTER>
<P></P><FONT face="Times,Times New Roman">
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The undersigned hereby certifies that set forth below is an
accurate summary of Foreign Investments as of _______________________.<br>
</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
General Binding Corporation</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Name&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></P>
<P align=justify>&nbsp;</P>
<B>
<P align=center>Exhibit&nbsp;L</P>
<P align=center>Borrowing Base Certificate</P>
</B>
<P align=justify>To:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Harris Trust and Savings Bank, as Administrative Agent
under, and the Lenders party to, the Credit&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times,Times New Roman">Agreement described
below.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to the terms of the Second Amended and Restated
Multicurrency Credit Agreement dated as of January&nbsp;11, 2002, among us (the
<I>"Credit Agreement"</I>), we submit this Borrowing Base Certificate to you and
certify that the information set forth below and on any attachments to this
Certificate is true, correct and complete as of the date of this
Certificate.</P>
<P>A. Receivables in Borrowing Base</P></FONT>
<P align=right>
<TABLE cellSpacing=0 cellPadding=5 width=599 border=0>

  <TR>
    <TD vAlign=top width="59%">
      <FONT face="Times,Times New Roman">
      <P>1. Gross Receivables (excluding Canada)</P></FONT></TD>
    <TD vAlign=top width="21%">&nbsp;</TD>
    <TD vAlign=top width="20%">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></P></TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <FONT face="Times,Times New Roman">
      <P>2. Gross Canadian Receivables (excluding
      Quebec)</P></FONT></TD>
    <TD vAlign=top width="21%">&nbsp;</TD>
    <TD vAlign=top width="20%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <FONT face="Times,Times New Roman">
      <P>3. Total Gross Receivables</P></FONT></TD>
    <TD vAlign=top width="21%">&nbsp;</TD>
    <TD vAlign=top width="20%">
      <P></P></TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <FONT face="Times,Times New Roman">
      <P>4. Less</P></FONT></TD>
    <TD vAlign=top width="21%"></TD>
    <TD vAlign=top width="20%"></TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <DIR>
      <FONT face="Times,Times New Roman">
      <li>
      <P>(a) Ineligible sales</P></li>
      </DIR></FONT></TD>
    <TD vAlign=top width="21%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD>
    <TD vAlign=top width="20%"></TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <DIR>
      <FONT face="Times,Times New Roman">
      <li>
      <P>(b) Owed by an account debtor who is an
      Affiliate</P></li>
      </DIR></FONT></TD>
    <TD vAlign=top width="21%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD>
    <TD vAlign=top width="20%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <DIR>
      <FONT face="Times,Times New Roman">
      <li>
      <P>(c) Owed by an account debtor who is in an insolvency or reorganization
      proceeding</P></li>
      </DIR></FONT></TD>
    <TD vAlign=top width="21%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD>
    <TD vAlign=top width="20%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <DIR>
      <FONT face="Times,Times New Roman">
      <li>
      <P>(d) Credits/allowances</P></li>
      </DIR></FONT></TD>
    <TD vAlign=top width="21%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD>
    <TD vAlign=top width="20%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <DIR>
      <FONT face="Times,Times New Roman">
      <li>
      <P>(e) Unpaid more than 60 days from due
    date</P></li>
      </DIR></FONT></TD>
    <TD vAlign=top width="21%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD>
    <TD vAlign=top width="20%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <DIR>
      <FONT face="Times,Times New Roman">
      <li>
      <P>(f) Not invoiced within 5&nbsp;Business Days of shipment or with
      payment terms more than 120&nbsp;days from
      invoice</P></li>
      </DIR></FONT></TD>
    <TD vAlign=top width="21%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD>
    <TD vAlign=top width="20%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <DIR>
      <FONT face="Times,Times New Roman">
      <li>
      <P>(g) Otherwise ineligible</P></li>
      </DIR></FONT></TD>
    <TD vAlign=top width="21%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD>
    <TD vAlign=top width="20%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <DIR>
      <FONT face="Times,Times New Roman">
      <li>
      <P>(h) 25% Cross-aging factor</P></li>
      </DIR></FONT></TD>
    <TD vAlign=top width="21%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD>
    <TD vAlign=top width="20%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <FONT face="Times,Times New Roman">
      <P>5. Total Deductions (sum of lines A4a -
      A4h)</P></FONT></TD>
    <TD vAlign=top width="21%">&nbsp;</TD>
    <TD vAlign=top width="20%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <FONT face="Times,Times New Roman">
      <P>6. Eligible Receivables (line A1 minus line
    A5)</P></FONT></TD>
    <TD vAlign=top width="21%">&nbsp;</TD>
    <TD vAlign=top width="20%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colspan="3">
      <p align="center">1</TD>
  </TR>
  <TR>
    <TD vAlign=top width="59%">
      <FONT face="Times,Times New Roman">
      <P>7. Portion of Canadian Receivables exceeding U.S. $6,500,000
      (<I>"Excess <BR>Canadian Receivables"</I>)</P></FONT></TD>
    <TD vAlign=top width="21%">&nbsp;</TD>
    <TD vAlign=top width="20%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <FONT face="Times,Times New Roman">
      <P>8. Eligible Receivables net of Excess Canadian Receivables (line A6
      minus line A7)</P></FONT></TD>
    <TD vAlign=top width="21%">&nbsp;</TD>
    <TD vAlign=top width="20%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <FONT face="Times,Times New Roman">
      <P>9. Eligible Receivables in Borrowing Base<BR>(line A8 x
      .85)</P></FONT></TD>
    <TD vAlign=top width="21%">&nbsp;</TD>
    <TD vAlign=top width="20%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR></TABLE>
<FONT face="Times,Times New Roman">
<P>B. Inventory in Borrowing Base</P></FONT>
<P align=right>
<TABLE cellSpacing=0 cellPadding=5 width=599 border=0>

  <TR>
    <TD vAlign=top width="59%">
      <FONT face="Times,Times New Roman">
      <P>1. Gross Inventory (excluding Canada)</P></FONT></TD>
    <TD vAlign=top width="21%"></TD>
    <TD vAlign=top width="20%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <FONT face="Times,Times New Roman">
      <P>2. Gross Canadian Inventory (excluding
      Quebec)</P></FONT></TD>
    <TD vAlign=top width="21%"></TD>
    <TD vAlign=top width="20%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <FONT face="Times,Times New Roman">
      <P>3. Total Gross inventory</P></FONT></TD>
    <TD vAlign=top width="21%"></TD>
    <TD vAlign=top width="20%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <FONT face="Times,Times New Roman">
      <P>4. Less</P></FONT></TD>
    <TD vAlign=top width="21%"></TD>
    <TD vAlign=top width="20%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <DIR>
      <FONT face="Times,Times New Roman">
      <li>
      <P>(a) Goods not located at approved
    locations</P></li>
      </DIR></FONT></TD>
    <TD vAlign=top width="21%"><FONT face="Times,Times New Roman">
      <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
    <TD vAlign=top width="20%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <DIR>
      <FONT face="Times,Times New Roman">
      <li>
      <P>(b) Obsolete, slow moving, or not
      merchantable</P></li>
      </DIR></FONT></TD>
    <TD vAlign=top width="21%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD>
    <TD vAlign=top width="20%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <DIR>
      <FONT face="Times,Times New Roman">
      <li>
      <P>(c) Otherwise ineligible </P></li>
      </DIR></FONT></TD>
    <TD vAlign=top width="21%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD>
    <TD vAlign=top width="20%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <FONT face="Times,Times New Roman">
      <P>5. Total Deductions (sum of lines B4a - B4c
      above)</P></FONT></TD>
    <TD vAlign=top width="21%">&nbsp;</TD>
    <TD vAlign=top width="20%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <FONT face="Times,Times New Roman">
      <P>6. Eligible Inventory (line B3 minus line B5)</P></FONT></TD>
    <TD vAlign=top width="21%">&nbsp;</TD>
    <TD vAlign=top width="20%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <FONT face="Times,Times New Roman">
      <P>7. Portion of Eligible Canadian Inventory exceeding U.S. $4,000,000
      (<I>"Excess Canadian Inventory"</I>)</P></FONT></TD>
    <TD vAlign=top width="21%">&nbsp;</TD>
    <TD vAlign=top width="20%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <FONT face="Times,Times New Roman">
      <P>8. Eligible Inventory net of Excess Canadian Inventory (line B6 minus
      line B7)</P></FONT></TD>
    <TD vAlign=top width="21%">&nbsp;</TD>
    <TD vAlign=top width="20%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <FONT face="Times,Times New Roman">
      <P>9. Eligible Inventory in Borrowing Base (line B8 x
      .50)</P></FONT></TD>
    <TD vAlign=top width="21%">&nbsp;</TD>
    <TD vAlign=top width="20%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR></TABLE>
<FONT face="Times,Times New Roman">
<P>C. Total Borrowing Base</P></FONT>
<P align=right>
<TABLE cellSpacing=0 cellPadding=5 width=599 border=0>

  <TR>
    <TD vAlign=top width="59%" height=29>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>1. Line A9</P></DIR></DIR></FONT></TD>
    <TD vAlign=top width="21%" height=29><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD>
    <TD vAlign=top width="20%" height=29>
      <P></P></TD></TR>
  <TR>
    <TD vAlign=top width="59%" height=29>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>2. Line B4</P></DIR></DIR></FONT></TD>
    <TD vAlign=top width="21%" height=29><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD>
    <TD vAlign=top width="20%" height=29>
      <P></P></TD></TR>
  <TR>
    <TD vAlign=top width="59%" height=29>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>3. Less $10,000,000 until IBICO GmbH Pledge
    Event</P></DIR></DIR></FONT></TD>
    <TD vAlign=top width="21%" height=29><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD>
    <TD vAlign=top width="20%" height=29>
      <P></P></TD></TR>
  <TR>
    <TD vAlign=top width="59%" height=29>
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>4. Sum of Lines C1 and C2 less line C3 (Borrowing
      Base)</P></DIR></DIR></FONT></TD>
    <TD vAlign=top width="21%" height=29><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD>
    <TD vAlign=top width="20%" height=29>
      <P></P></TD></TR></TABLE>
<FONT face="Times,Times New Roman">
<P align="center">2</P>
<P>D. Revolving Credit Advances</P></FONT>
<P align=right>
<TABLE cellSpacing=0 cellPadding=5 width=599 border=0>

  <TR>
    <TD vAlign=top width="59%">
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>1. Revolving Loans (including Committed Revolving Loans and Swing Line
      Loans)</P></DIR></DIR></FONT></TD>
    <TD vAlign=top width="21%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD>
    <TD vAlign=top width="20%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>2. Letters of Credit</P></DIR></DIR></FONT></TD>
    <TD vAlign=top width="21%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD>
    <TD vAlign=top width="20%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="59%">
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>3. Total Outstandings (line D1 plus D2)</P></DIR></DIR></FONT></TD>
    <TD vAlign=top width="21%">&nbsp;</TD>
    <TD vAlign=top width="20%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR></TABLE>
<FONT face="Times,Times New Roman">
<P>E. Unused Availability</P></FONT>
<P align=right>
<TABLE cellSpacing=0 cellPadding=5 width=599 border=0>

  <TR>
    <TD vAlign=top width="59%">
      <DIR>
      <DIR><FONT face="Times,Times New Roman">
      <P>(line C4 minus line D3)</P></DIR></DIR></FONT></TD>
    <TD vAlign=top width="21%">&nbsp;</TD>
    <TD vAlign=top width="20%"><FONT face="Times,Times New Roman">
      <P><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></P></TD></TR></TABLE><FONT face="Times,Times New Roman">
<P align=justify>&nbsp;&nbsp;&nbsp; Dated as of this ______ day of __________________.</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
General Binding Corporation</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Name&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Title&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></P>
<P align=center>3</P>
<B>
<P align=center>Schedule 1</P>
<P align=center>Existing Letters of Credit</P>
<P align=center></B>1. Maryland IRB&nbsp;Letter of Credit, in the stated amount of
$6,933,879 as of the Effective Date.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2. Standby Letter of Credit No.&nbsp;SPL&nbsp;90006358 issued
by Harris Trust and Savings Bank in favor of
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT face="Times,Times New Roman">ABN&nbsp;Amro Bank,&nbsp;Portugal,
in the stated amount of 1,367,000 Euros as of the Effective Date.</P>
<DIR>
<DIR>
<DIR>
<DIR><B>
<P align=justify></P></DIR></DIR></DIR></DIR>
<P align=center>Schedule 8.1</P>
<P align=center>Adjustments to EBITDA by Business Unit<BR>(amounts in millions
of U.S. Dollars)</P></B>
<P>&nbsp;</P></FONT>
<TABLE cellSpacing=1 width=637 border=0>

  <TR>
    <TD vAlign=top width="33%"><FONT face="Times,Times New Roman">
      <P>Business Unit</FONT></P></TD>
    <TD vAlign=top width="33%"><FONT face="Times,Times New Roman">
      <P align=center>Cash Charges</FONT></P></TD>
    <TD vAlign=top width="33%"><FONT face="Times,Times New Roman">
      <P align=center>Non-Cash Charges</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="33%"><FONT face="Times,Times New Roman">
      <P>Office Products Group</FONT></P></TD>
    <TD vAlign=top width="33%" align="center"><FONT face="Times,Times New Roman">
      <P>4.0</FONT></P></TD>
    <TD vAlign=top width="33%" align="center"><FONT face="Times,Times New Roman">
      <P>11.0</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="33%"><FONT face="Times,Times New Roman">
      <P>Document Finishing Group</FONT></P></TD>
    <TD vAlign=top width="33%" align="center"><FONT face="Times,Times New Roman">
      <P>3.0</FONT></P></TD>
    <TD vAlign=top width="33%" align="center"><FONT face="Times,Times New Roman">
      <P>5.5</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="33%"><FONT face="Times,Times New Roman">
      <P>Films</FONT></P></TD>
    <TD vAlign=top width="33%" align="center"><FONT face="Times,Times New Roman">
      <P>2.0</FONT></P></TD>
    <TD vAlign=top width="33%" align="center"><FONT face="Times,Times New Roman">
      <P>2.0</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="33%"><FONT face="Times,Times New Roman">
      <P>Europe</FONT></P></TD>
    <TD vAlign=top width="33%" align="center"><FONT face="Times,Times New Roman">
      <P>5.0</FONT></P></TD>
    <TD vAlign=top width="33%" align="center"><FONT face="Times,Times New Roman">
      <P>9.0</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="33%"><FONT face="Times,Times New Roman">
      <P>Asia/Pacific/Corporate</FONT></P></TD>
    <TD vAlign=top width="33%" align="center"><U><FONT face="Times,Times New Roman">
      <P>&nbsp; 1.0</U></FONT></P></TD>
    <TD vAlign=top width="33%" align="center"><U><FONT face="Times,Times New Roman">
      <P>&nbsp; 2.0</U></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="33%"><FONT face="Times,Times New Roman">
      <P>Total</FONT></P></TD>
    <TD vAlign=top width="33%" align="center"><FONT face="Times,Times New Roman">
      <P>15.0</FONT></P></TD>
    <TD vAlign=top width="33%" align="center"><FONT face="Times,Times New Roman">
      <P>29.5</FONT></P></TD></TR></TABLE><FONT face="Times,Times New Roman">
<P>&nbsp;</P><B>
<P align=center>&nbsp;</P>
<P align=center>Schedule 9.2</P>
<P align=center>List of Subsidiaries</P></B>
<P align=justify></P></FONT>
<P align=center>
<CENTER>
<TABLE cellSpacing=0 cellPadding=5 width=660 border=0>

  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P align=center><br>
      Investment</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P align=center><br>
      Owned By</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>Percent <BR>Ownership</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Jurisdiction of Organization</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>Allfax Paper Products, Limited</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC (United Kingdom) Limited</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>United Kingdom</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>Allfax UK, Limited</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC (United Kingdom) Limited</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>United Kingdom</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225">&nbsp;</TD>
    <TD vAlign=top width="189">&nbsp;</TD>
    <TD vAlign=top width="66">&nbsp;</TD>
    <TD vAlign=top width="132">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman" size=2>
      <P>**</FONT><FONT face="Times,Times New Roman">Anillos Plasticos de Mexico
      S.A.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>General Binding Corporation</P>
      <P>GBC International, Inc.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>99.99999</P>
      <P align=center>0.00001</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Mexico</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>Compania Papelera Marmo S.V.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>Grupo GBC S.A. de C.V.<BR>General Binding Corporation
      GBC&nbsp;International, Inc.<BR>VeloBind, Incorporated</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>93.17592<BR>3.41204<BR>1.70602<BR>1.70602</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Mexico</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225">&nbsp;</TD>
    <TD vAlign=top width="189">&nbsp;</TD>
    <TD vAlign=top width="66">&nbsp;</TD>
    <TD vAlign=top width="132">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>***GBC Asia Pte. Ltd.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC International, Inc.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Singapore</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman" size=2>
      <P><FONT face=Symbol>*</FONT> <FONT face=Symbol>*</FONT> <FONT
      face=Symbol>*</FONT> </FONT><FONT face="Times,Times New Roman">GBC
      Australia Pty. Limited</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC International, Inc.</P>
      <P>GBC United Kingdom Holdings, Ltd.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>79</P>
      <P align=center>21</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Australia</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>*GBC Basingstoke Limited</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC (United Kingdom) Limited</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>United Kingdom</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>GBC Belgium N.V.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC Nederland B.V.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Belgium</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="612" colspan="4">
      <p align="center">1</TD>
  </TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>***GBC Canada, Inc.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC International, Inc.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Canada</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225">&nbsp;</TD>
    <TD vAlign=top width="189">&nbsp;</TD>
    <TD vAlign=top width="66">&nbsp;</TD>
    <TD vAlign=top width="132">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>**GBC Deutschland GmbH</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>General Binding Corporation</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Germany</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>*GBC/Fordigraph Pty. Limited</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC Australia Pty. Limited</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Australia</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>**GBC France S.A.S.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC International, Inc.<BR>General Binding Corporation</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>99.97524<BR>0.02476</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>France</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>**GBC General Binding Polska Sp.z.o.o.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC International, Inc.<BR>General Binding Italia S.r.l.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>98.75<BR>1.25</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Poland</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>GBC Handelsgesellschaft m.b.H.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC Nederland B.V.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Austria</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>*GBC India Holdings Inc.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC International, Inc.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Nevada</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>**GBC International Export Sales Corp.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC International, Inc.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Barbados</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>GBC International Finance Company</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC Nederland B.V.<BR>GBC Handelsgesellschaft m.b.H.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>0.25<BR>99.75</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Ireland</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>*GBC International, Inc.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>General Binding Corporation</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Nevada</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>**GBC International Services S.P.R.L.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC International, Inc.<BR>General Binding Corporation</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>99.8667<BR>0.1333</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Belgium</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>***GBC Japan K.K.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC International, Inc.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Japan</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>GBC Mexicana S.A. de C.V.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>Grupo GBC S.A. de C.V. <BR>General Binding Corporation
      GBC&nbsp;International, Inc.<BR>VeloBind, Incorporated</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>96.2691<BR>1.8655<BR>0.9327<BR>0.9327</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Mexico</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>***GBC Nederland B.V.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC International, Inc.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Netherlands</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>GBC New Zealand Limited</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC Australia Pty. Limited</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>New Zealand</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="612" colspan="4">
      <p align="center">&nbsp;2&nbsp;&nbsp;</p>
    </TD>
  </TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>GBC Scandinavia AB</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>Ibico GmbH<BR>GBC International, Inc.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>75<BR>25</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Sweden</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>**GBC Schweiz A.G.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC International, Inc.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Switzerland</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225">&nbsp;</TD>
    <TD vAlign=top width="189">&nbsp;</TD>
    <TD vAlign=top width="66">&nbsp;</TD>
    <TD vAlign=top width="132">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="225">&nbsp;</TD>
    <TD vAlign=top width="189">&nbsp;</TD>
    <TD vAlign=top width="66">&nbsp;</TD>
    <TD vAlign=top width="132">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>***GBC United Kingdom Holdings, Ltd.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC International, Inc.<BR>General Binding Corporation</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>98.4533<BR>1.5467</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>United Kingdom</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>*GBC (United Kingdom) Limited</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC United Kingdom<BR>&nbsp;&nbsp;&nbsp;&nbsp;Holdings, Ltd.<BR>Ibico
      GmbH</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>94.3503<BR><BR>5.6497</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>United Kingdom</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225">&nbsp;</TD>
    <TD vAlign=top width="189">&nbsp;</TD>
    <TD vAlign=top width="66">&nbsp;</TD>
    <TD vAlign=top width="132">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>General Binding Iberia, S.A.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>Ibico GmbH</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Spain</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>***General Binding Italia S.r.l.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC International, Inc.<BR>Ibico GmbH<BR>General Binding
      Corporation</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>99.555<BR>0.348<BR>0.097</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Italy</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>***Grupo GBC S.A. de C.V.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>General Binding Corporation<BR>GBC International, Inc.<BR>VeloBind,
      Incorporated</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>58.972<BR>20.517<BR>20.511</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Mexico</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>**Hwa Seung GBC Co., Ltd. (a.k.a. GBC Asia Film Group Co.
      Ltd.)</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>General Binding Corporation</P>
      <P>HS Industries, Inc.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>80</P>
      <P align=center>20</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>South Korea</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>**Ibico AG</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC International, Inc.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Switzerland</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="612" colspan="4">
      <p align="center">3&nbsp;</p>
    </TD>
  </TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>***Ibico GmbH</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC International, Inc.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Switzerland</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>Ibico Holdings Singapore Pte.<BR>Ltd.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>Ibico GmbH</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Singapore</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225">&nbsp;</TD>
    <TD vAlign=top width="189">&nbsp;</TD>
    <TD vAlign=top width="66">&nbsp;</TD>
    <TD vAlign=top width="132">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="225">&nbsp;</TD>
    <TD vAlign=top width="189">&nbsp;</TD>
    <TD vAlign=top width="66">&nbsp;</TD>
    <TD vAlign=top width="132">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>Ibico Portuguesa Lda.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>Ibico GmbH</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Portugal</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225">&nbsp;</TD>
    <TD vAlign=top width="189">&nbsp;</TD>
    <TD vAlign=top width="66">&nbsp;</TD>
    <TD vAlign=top width="132">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>Ibico Singapore Pte. Ltd.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>Ibico Holdings Singapore Pte. Ltd.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Singapore</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>Ibico Trading GmbH</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>Ibico GmbH</P>
      <P>GBC Schweiz AG</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>79.3</P>
      <P align=center>20.7</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Switzerland</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225">&nbsp;</TD>
    <TD vAlign=top width="189">&nbsp;</TD>
    <TD vAlign=top width="66">&nbsp;</TD>
    <TD vAlign=top width="132">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>Mirabeau Contract Sales, Limited</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC (United Kingdom) Limited</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>United Kingdom</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>**PBB&amp;R S.A. de C.V.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC International, Inc.<BR>General Binding Corporation<BR>VeloBind,
      Incorporated</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>97<BR>2<BR>1</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Mexico</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>Plastic Binding Corporation</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>General Binding Corporation</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Illinois</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>**Printing Wire Supplies Limited</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC International, Inc.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Ireland</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>Quartet Manufacturing Company (1997) Inc.</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>GBC Canada, Inc.</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Canada</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="225"><FONT face="Times,Times New Roman">
      <P>*VeloBind, Incorporated</FONT></P></TD>
    <TD vAlign=top width="189"><FONT face="Times,Times New Roman">
      <P>General Binding Corporation</FONT></P></TD>
    <TD vAlign=top width="66"><FONT face="Times,Times New Roman">
      <P align=center>100</FONT></P></TD>
    <TD vAlign=top width="132"><FONT face="Times,Times New Roman">
      <P align=center>Delaware</FONT></P></TD></TR></TABLE></CENTER>
<P align="center">4</P><FONT face="Times,Times New Roman">
<P align=justify></P><B>
<P align=center>Schedule 9.6</P>
<P align=center>Taxes</P>
<P align=center>None</P>
<P align=center>&nbsp;</P>
<P align=center>Schedule 9.8</P>
<P align=center>ERISA</P></B>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company has taken steps to terminate the IBICO Inc. Money
Purchase Pension Plan and to terminate the IBICO Inc. 401(k) Profit Sharing
Plan.</P>
<P align=justify></P><B>
<P align=center>Schedule 9.12</P>
<P align=center>Real Property</P></B>
<P align=center></P></FONT>
<TABLE cellSpacing=1 width=659 border=0>

  <TR>
    <TD vAlign=top width="14%">&nbsp;</TD>
    <TD vAlign=top width="46%"><B><FONT face="Times,Times New Roman">
      <P>Address</B></FONT></P></TD>
    <TD vAlign=top width="25%"><B><FONT face="Times,Times New Roman">
      <P align=center>Owned</B></FONT></P></TD>
    <TD vAlign=top width="15%"><B><FONT face="Times,Times New Roman">
      <P align=center>Leased</B></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>1.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>One GBC Plaza<br>
      1135 Skokie Boulevard<br>
      Northbrook, IL 60062</P>
      </FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD>
    <TD vAlign=top width="15%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>2.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>712 W. Winthrop Avenue<br>
      Addison, IL 60101</P>
      </FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD>
    <TD vAlign=top width="15%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>3.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>500 Bond Street<br>
      Lincolnshire, IL 60069</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>4.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>4151 Anderson Road<br>
      DeForest, WI 53532</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>5.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>825 Turnberry Court<br>
      Hanover Park, IL 60103</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>6.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>2150 Boggs Road #440<br>
      Duluth, GA 30136</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>7.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>49 Railside Road<br>
      Don Mills, ONT, Canada<br>
      M3A 1B3</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>8.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>14430 Best Avenue<br>
      Santa Fe Springs, CA 90670</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>9.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>1746 W. Crosby<br>
      Carrollton, TX 75006</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>10.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>321 Benigno Boulevard<br>
      Bellmawr, NJ 08031</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>11.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>560 Western Maryland Parkway<br>
      Hagerstown, MD 21740</P>
      </FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD>
    <TD vAlign=top width="15%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="100%" colspan="4">
      <p align="center">1</TD>
  </TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>12.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Good Bridge Road<br>
      Amelia, VA 23002</P>
      </FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD>
    <TD vAlign=top width="15%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>13.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Carretera Nacional<br>
      KM 8.5 Ote<br>
      Modulo Ind. De America<br>
      Nuevo Laredo Tamaulipas, Mexico<br>
      88295</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>14.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Rutherford Road<br>
      Basingstoke, Hampshire<br>
      RG24 8PD U.K.</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>15.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Mercuriusstraat 9<br>
      6468 ES Kerkrade<br>
      The Netherlands</P>
      </FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD>
    <TD vAlign=top width="15%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>16.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Neptuno No. 43<br>
      Nva. Industrial Vallejo<br>
      Delegacion Gustavo A.<br>
      Madero<br>
      07700 Mexico, D.F.</P>
      </FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD>
    <TD vAlign=top width="15%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>17.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Via Oberdan 33<br>
      28070 Tornaco<br>
      Novara, Italy</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>18.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>281 Nanakodai<br>
      Noda-Shi, Chiba<br>
      Noda, Japan<br>
      278-0051</P>
      </FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD>
    <TD vAlign=top width="15%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>19.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>10150 80<SUP>th</SUP> Street<br>
      Kenosha, WI 53142</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>20.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>301 Hastings Drive<br>
      Buffalo Grove, IL 60089</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>21.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>112-114 S. Lombard Road<br>
      Addison, IL 60101</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colspan="4">
      <p align="center">2</TD>
  </TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>22.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>10303 80<SUP>th</SUP> Street<br>
      Kenosha, WI 53142</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>23.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>21241 N. 23<SUP>rd</SUP> Avenue<br>
      Suite 9<br>
      Phoenix, AZ</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>24.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>5700 Old Orchard Road<br>
      Skokie, IL 60077</P>
      </FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD>
    <TD vAlign=top width="15%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>25.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>300 Quartet Avenue<br>
      Booneville, MS 38829</P>
      </FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD>
    <TD vAlign=top width="15%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>26.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>100 American Avenue<br>
      Booneville, MS 38829</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>27.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>2297 N. 2<SUP>nd</SUP> Street<br>
      Booneville, MS 38829</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>28.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>1 Quartet Avenue<br>
      Ashland, MS 38603</P>
      </FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD>
    <TD vAlign=top width="15%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="14%" height=60><FONT face="Times,Times New Roman">
      <P>29.</FONT></P></TD>
    <TD vAlign=top width="46%" height=60><FONT face="Times,Times New Roman">
      <P>2300 Crown Colony<br>
      Quincy, MA 02166</P>
      </FONT></TD>
    <TD vAlign=top width="25%" height=60>
      <P></P></TD>
    <TD vAlign=top width="15%" height=60><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>30.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>900 E. 8<SUP>th</SUP> Street<br>
      Office 37<br>
      King of Prussia, PA 16406</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>31.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>225 W. 34<SUP>th</SUP> Street<br>
      New York, NY 10122</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>32.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>7000 Broadway #100<br>
      Denver, CO</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>33.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>7068 Koll Parkway<br>
      Suite 419<br>
      Pleasanton, CA</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>34.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>3330 Old Glenview Road<br>
      Wilmette, IL 60091</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colspan="4">
      <p align="center">3</TD>
  </TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>35.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>70 E. Lake<br>
      Suite 224<br>
      Chicago, IL 60601</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>36.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>100 Avenue T<br>
      Del Rio, TX</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>37.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Unit 1, Block Q<br>
      Princess Road<br>
      Regents Park Estate<br>
      Regents Park<br>
      NSW 2143 Australia</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>38.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>28 Beesley Street<br>
      West End (Brisbane)<br>
      QLD 4101 Australia</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>39.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Level 3<br>
      Hanover House<br>
      158 City Road<br>
      Southbank (Melbourne)<br>
      VIC 3006 Australia</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>40.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Unit 12<br>
      167 Gladstone Street<br>
      Fyshwick A.C.T.<br>
      (Canberra) Australia</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>41.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Harmony Tower, Building F<br>
      1-32-2, Honcho<br>
      Nakano-Ku<br>
      Tokyo, Japan<br>
      PC: 164-8721</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>42.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Hanafusa Building<br>
      1-2-2 Dosho-machi<br>
      Chuo-ku<br>
      Osaka-Shi<br>
      Osaka, Japan<br>
      541-0045</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colspan="4">
      <p align="center">4</TD>
  </TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>43.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Kanehisa Building<br>
      5-5 Ushijima-cho<br>
      Nishi-ku<br>
      Nagoya-shi<br>
      Aichi, Japan<br>
      451-0046<br>
      (Nagoya, Japan)</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>44.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Hakata-Daini-Mukai Building<br>
      3/1/29 Hakataeki-higashi<br>
      Hakata-ku<br>
      Fukuoka-shi<br>
      Fukuoka, Japan<br>
      812-0013</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>45.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>10 Hotunui Drive<br>
      Mount Wellington<br>
      Aukland, New Zealand</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>46.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>12 Hotunui Drive<br>
      Mount Wellington<br>
      Auckland, New Zealand</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>47.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>121 Thorndon Quay<br>
      Wellington, New Zealand</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>48.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>46 Coleridge Street<br>
      Sydenham<br>
      Christchurch, New Zealand</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>49.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>47 Ayer Rajah Crescent<br>
      Units #05-05/07 &amp; #05-08/17<br>
      Singapore 139947</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>50.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Dreve Richelle 161<br>
      Batiment O<br>
      1410 Waterloo<br>
      Brussels, Belgium</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colspan="4">
      <p align="center">5</TD>
  </TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>51.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>1, allee des Bas Tillers<br>
      Parc Les Barbanniers<br>
      92330 Gennevilliers<br>
      Cedex, France</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>52.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Industtrieweg 3<br>
      70705<br>
      Jestetten, Germany</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>53.</FONT></P></TD>
    <TD vAlign=top width="46%"><B><FONT face="Times,Times New Roman">
      <P>[Intentionally Deleted]</P></B></FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>54.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Gelnhausen, Germany</P></FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>55.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Born, Holland</P></FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>56.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>F-41, Sector 6<br>
      District Gautam Budh Nagar<br>
      201 301 (U.P.)<br>
      (Noida) India</FONT></P>
    </TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>57.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>502 Aagamon Complex<br>
      Navarangpura<br>
      Ahemedabad, India</FONT></P>
    </TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>58.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>IDA Business Park<br>
      Poppintree<br>
      Finglas<br>
      Dublin 11 Ireland</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>59.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Milanofiori, Palazzo F10<br>
      20094 Assago<br>
      Italy</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>60.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Arcos de Valdevez<br>
      Portugal</P>
      </FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD>
    <TD vAlign=top width="15%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>61.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Jose Ortega Gasset 89<br>
      28006<br>
      Madrid, Spain</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>62.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>5-250-22<br>
      Helsingborg<br>
      Sweden</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colspan="4">
      <p align="center">6</TD>
  </TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>63.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Gewerbestrasse 8<br>
      CH-8212<br>
      Neuhausen<br>
      Switzerland</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>64.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>3011 Viking Way<br>
      Unit 100<br>
      Richmond BC<br>
      Canada V6V 1W1</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>65.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>2672 Lancaster Road<br>
      Warehouse #62<br>
      Ottawa, ON<br>
      Canada K1B 4T7</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>66.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>4527 Rue Dobrin<br>
      St. Laurent QC<br>
      Canada H4R 2L8</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>67.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>10 Morris Drive<br>
      Unite #7<br>
      Burnside Industrial Park<br>
      Dartmouth NS<br>
      Canada B3B 1M2</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>68.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>350 Keewatin Street<br>
      Unit 2<br>
      Winnipeg MB<br>
      Canada R2X 2R9</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>69.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>7220 Fisher Street SE<br>
      Unit 130<br>
      Calgary, AB<br>
      Canada T2H 2H8</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>70.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>500, 925-109 Street<br>
      Edmonton, AB<br>
      Canada T5K 2J8</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colspan="4">
      <p align="center">7</TD>
  </TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>71.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>12 Corrine Court<br>
      Concord ONT<br>
      Canada L4K 5A4</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>72.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>1845 Kryczka Place<br>
      Kamloops, BC<br>
      Canada V1S 1S4</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>73.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Maria Luis Santander 495<br>
      Providencia<br>
      Santiago, Chile</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>74.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Dominica 236<br>
      Recoleta<br>
      Santiago, Chile</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>75.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Juan Fernandex Albarran Nos 41 y 43<br>
      Lotes 79, 80 y 81<br>
      Fracc. Ind. San Pablo Xhalpa<br>
      54090 Tlalnepantla, Edo de Mexico</P>
      </FONT></TD>
    <TD vAlign=top width="25%">&nbsp;</TD>
    <TD vAlign=top width="15%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>76.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>Ave Lopez Mateos No 23<br>
      Puente de Viga Tlalnepantla 12-25<br>
      Edo. De. Mexico C.P. 54090</P>
      </FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD>
    <TD vAlign=top width="15%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>77.</FONT></P></TD>
    <TD vAlign=top width="46%"><FONT face="Times,Times New Roman">
      <P>KM 8.5 of the Highway from<br>
      C.D. Acuna to "Presa la Amistad&quot;<br>
      Ciudad Acuna, Coahuila,<br>
      Mexico </P>
      </FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD>
    <TD vAlign=top width="15%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="14%"><FONT face="Times,Times New Roman">
      <P>78.</FONT></P></TD>
    <TD vAlign=top width="46%">
      <FONT face="Times,Times New Roman">
      <P>98-18 Shin Hang Ri Doon Po Myun Asan City 336-870 Choong Nam, Republic
      of Korea</P></FONT></TD>
    <TD vAlign=top width="25%"><FONT face="Times,Times New Roman">
      <P align=center>X</FONT></P></TD>
    <TD vAlign=top width="15%">&nbsp;</TD></TR></TABLE><FONT
face="Times,Times New Roman">
<P align=center>8</P>
<B>
<P align=center>Schedule 11.1(j)</P>
<P align=center>Mortgages and Title Insurance</P>
<P align=center>Owned Properties</P></B>
<P align=justify></P></FONT>
<TABLE cellSpacing=1 width=637 border=0>

  <TR>
    <TD vAlign=top width="17%"><FONT face="Times,Times New Roman">
      <P align=center><BR>Site No.</FONT></P></TD>
    <TD vAlign=top width="45%"><FONT face="Times,Times New Roman">
      <P align=center><BR>Address</FONT></P></TD>
    <TD vAlign=top width="38%"><FONT face="Times,Times New Roman">
      <P align=center>Title Insurance<BR>Amount (110% of Value)</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="17%"><FONT face="Times,Times New Roman">
      <P align=center>1.</FONT></P></TD>
    <TD vAlign=top width="45%"><FONT face="Times,Times New Roman">
      <P>One GBC Plaza<BR>Northbrook, IL 60062</FONT></P></TD>
    <TD vAlign=top width="38%"><FONT face="Times,Times New Roman">
      <P align=center>$7,562,500</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="17%"><FONT face="Times,Times New Roman">
      <P align=center>2.</FONT></P></TD>
    <TD vAlign=top width="45%"><FONT face="Times,Times New Roman">
      <P>712 W. Winthrop Ave.<BR>Addison, IL 60101</FONT></P></TD>
    <TD vAlign=top width="38%"><FONT face="Times,Times New Roman">
      <P align=center>$3,850,000</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="17%"><FONT face="Times,Times New Roman">
      <P align=center>3.</FONT></P></TD>
    <TD vAlign=top width="45%"><FONT face="Times,Times New Roman">
      <P>560 Western Maryland Parkway<BR>Hagerstown, MD 21740</FONT></P></TD>
    <TD vAlign=top width="38%"><FONT face="Times,Times New Roman">
      <P align=center>$2,585,000</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="17%"><FONT face="Times,Times New Roman">
      <P align=center>4.</FONT></P></TD>
    <TD vAlign=top width="45%"><FONT face="Times,Times New Roman">
      <P>Good Bridge Road<BR>Amelia, VA 23002</FONT></P></TD>
    <TD vAlign=top width="38%"><FONT face="Times,Times New Roman">
      <P align=center>$1,100,000</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="17%"><FONT face="Times,Times New Roman">
      <P align=center>5.</FONT></P></TD>
    <TD vAlign=top width="45%"><FONT face="Times,Times New Roman">
      <P>5700 Old Orchard Road<BR>Skokie, IL 60077</FONT></P></TD>
    <TD vAlign=top width="38%"><FONT face="Times,Times New Roman">
      <P align=center>$4,488,000</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="17%"><FONT face="Times,Times New Roman">
      <P align=center>6.</FONT></P></TD>
    <TD vAlign=top width="45%"><FONT face="Times,Times New Roman">
      <P>300 Quartet Avenue<BR>Booneville, MS 38829</FONT></P></TD>
    <TD vAlign=top width="38%"><FONT face="Times,Times New Roman">
      <P align=center>$14,520,000</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="17%"><FONT face="Times,Times New Roman">
      <P align=center>7.</FONT></P></TD>
    <TD vAlign=top width="45%"><FONT face="Times,Times New Roman">
      <P>1 Quartet Avenue<BR>Ashland, MS 38603</FONT></P></TD>
    <TD vAlign=top width="38%"><FONT face="Times,Times New Roman">
      <P align=center>$3,630,000</FONT></P></TD></TR></TABLE><B><FONT
face="Times,Times New Roman">
<P align=center>Leased Properties</P></B>
<P align=justify></P></FONT>
<TABLE cellSpacing=1 width=637 border=0>

  <TR>
    <TD vAlign=top width="17%"><FONT face="Times,Times New Roman">
      <P align=center><BR>Site No.</FONT></P></TD>
    <TD vAlign=top width="45%"><FONT face="Times,Times New Roman">
      <P align=center><BR>Address</FONT></P></TD>
    <TD vAlign=top width="38%"><FONT face="Times,Times New Roman">
      <P align=center><BR>Value</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="17%"><FONT face="Times,Times New Roman">
      <P align=center>8.</FONT></P></TD>
    <TD vAlign=top width="45%"><FONT face="Times,Times New Roman">
      <P>300 Quartet Avenue<BR>Booneville, MS 38829</FONT></P></TD>
    <TD vAlign=top width="38%"><FONT face="Times,Times New Roman">
      <P align=center><BR>Included with Site No. 6 above</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="17%"><FONT face="Times,Times New Roman">
      <P align=center>9.</FONT></P></TD>
    <TD vAlign=top width="45%"><FONT face="Times,Times New Roman">
      <P>10150 80<SUP>th</SUP> Street<BR>Kenosha, WI 53142</FONT></P></TD>
    <TD vAlign=top width="38%"><FONT face="Times,Times New Roman">
      <P align=center>Not Applicable</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colspan="3">
      <p align="center">1</TD>
  </TR>
  <TR>
    <TD vAlign=top width="17%"><FONT face="Times,Times New Roman">
      <P align=center>10.</FONT></P></TD>
    <TD vAlign=top width="45%"><FONT face="Times,Times New Roman">
      <P>10303 80<SUP>th</SUP> Street<BR>Kenosha, WI 53142</FONT></P></TD>
    <TD vAlign=top width="38%"><FONT face="Times,Times New Roman">
      <P align=center>Not Applicable</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="17%"><FONT face="Times,Times New Roman">
      <P align=center>11.</FONT></P></TD>
    <TD vAlign=top width="45%"><FONT face="Times,Times New Roman">
      <P>301 Hastings Drive<BR>Buffalo, Grove IL 60089</FONT></P></TD>
    <TD vAlign=top width="38%"><FONT face="Times,Times New Roman">
      <P align=center>Not Applicable</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="17%"><FONT face="Times,Times New Roman">
      <P align=center>12.</FONT></P></TD>
    <TD vAlign=top width="45%"><FONT face="Times,Times New Roman">
      <P>100 Avenue T<BR>Del Rio, Texas</FONT></P></TD>
    <TD vAlign=top width="38%"><FONT face="Times,Times New Roman">
      <P align=center>Not Applicable</FONT></P></TD></TR></TABLE><FONT
face="Times,Times New Roman">
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2</P><B>
<P align=center>Schedule 12.9</P>
<P align=center>Permitted Liens</P></B>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1. Lien on Hagerstown, Maryland facilities securing Hagerstown,
Maryland industrial revenue bond financing.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2. Lien on Addison, Illinois facilities securing Addison,
Illinois industrial revenue bond financing.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3. Lien in favor of Industrial Development Agency on Forbairt,
Ireland facilities securing government-related financing indebtedness permitted
by Section 12.22(f) hereof.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4. Lien in favor of AT Plastics Inc. on inventory sold to the
Company by AT Plastics Inc. on consignment as described on that certain
financing statement filed on April 6, 1998 as file number 39100000000753 with
the Department of Taxation and Assessments in the State of Maryland.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5. Lien in favor of Pullman Bank and Trust Co. on leasehold
improvements to real estate commonly known as 100 Avenue T, Del Rio, Texas 78840
as described on that certain financing statement filed on June 19, 1997 as file
number 3706155 with the Secretary of State of Illinois.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
6. Lien in favor of Pullman Bank and Trust Co. on leasehold
improvements to real estate commonly known as 100 Avenue T, Del Rio, Texas 78840
as described on that certain financing statement filed on June 19, 1997 as file
number 97-128027 with the Secretary of State of Texas.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
7. Liens permitted by the Mortgages.</P><B>
<P align=center>Schedule 12.22</P>
<P align=center>Permitted Indebtedness</P></B>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1. Indebtedness representing committed investment in and to
that certain joint venture with Neschen AG described in Section 12.14(h), above,
and as limited by such Section 12.14(h) to $5,000,000.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2. Indebtedness under certain industrial revenue bond
financings in Addison, Illinois, in an amount equal to approximately
$1,300,000.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3. Indebtedness under certain industrial revenue bond
financings in Hagerstown, Maryland, in an amount equal to approximately
$6,855,000.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4. Indebtedness representing the 9 3/8% Senior Subordinated
Notes in an amount equal to $150,000,000.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5. Indebtedness representing capital lease obligations under
asset financings in an amount equal to approximately $1,263,000.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
6. Indebtedness representing various standby letters of credit
in an amount less than or equal to $3,400,000.00. </P>
<P align=justify></P></FONT></BODY></HTML>

</TEXT>
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