No part of the proceeds of any Loan hereunder will be used directly or indirectly for any purpose which violates the provisions of Regulation T, U or X of the FRB as now and from time to time hereafter in effect. The Credit Parties and their Subsidiaries taken as a group do not own “margin stock” except as identified in the financial statements referred to in Section 7.01 and the aggregate value of all “margin stock” owned by the Credit Parties and their Subsidiaries taken as a group does not exceed 25% of the value of their assets.

No partNone of the Loan Parties is engaged or will engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock and no proceeds of any Loan hereunderBorrowings or drawings under any Letter of Credit will be used directlyto purchase or indirectlycarry any margin stock or to extend credit to others for the purpose of purchasing or carrying any purpose which violatesmargin stock. Neither the making of any Credit Extension hereunder nor the use of proceeds thereof will violate any regulations of the FRB, including the provisions of RegulationRegulations T, U or X of the FRB as now and fromFRB. At the time to time hereafter in effect. Theof each Credit Parties and their Subsidiaries taken as a group doExtension occurring on or after the Closing Date, not own “margin stock” except as identified in the financial statements referred to in Section 7.01 and the aggregate value of all “margin stock” owned by the Credit Parties and their Subsidiaries taken as a group does not exceedmore than 25% of the value of their assets.the assets of the Borrower and the Restricted Subsidiaries taken as a whole will constitute margin stock.

No partThe Borrower will not, and will not permit any of its Subsidiaries to, use the proceeds of any Loan hereunder will be usedunder this Agreement directly or indirectly for the purpose of buying or carrying any “margin stock” within the meaning of Regulation U (herein called “margin stock”) or for the purpose of reducing or retiring any indebtedness which was originally incurred to buy or carry a margin stock or for any other purpose which violateswould constitute this transaction a “purpose” credit within the provisionsmeaning of Regulation U. The Borrower will not, nor will it permit any of its Subsidiaries to, take any action which would cause this Agreement or any other Loan Document to violate Regulation T, U or X of the FRB as now and from time to time hereafter in effect. The Credit Parties and their Subsidiaries taken as a group do not own “margin stock” except as identified in the financial statements referred to in Section 7.01 and the aggregate value of all “margin stock” owned by the Credit Parties and their Subsidiaries taken as a group does not exceed 25% of the value of their assets.X.

No part of the proceeds of any Loan hereunderCredit Event will be used directly or indirectly to purchase or carry Margin Stock, or to extend credit to others for the purpose of purchasing or carrying any purpose which violatesMargin Stock, in violation of any of the provisions of RegulationRegulations T, U or X of the FRB as now and from time to time hereafter in effect.Board of Governors of the Federal Reserve System. The Credit Parties and their Subsidiaries taken as a group doBorrower is not own “margin stock” except as identifiedengaged in the financial statements referred to in Section 7.01 andbusiness of extending credit for the aggregate valuepurpose of all “margin stock” owned by the Credit Parties and their Subsidiaries taken as a group does not exceedpurchasing or carrying any Margin Stock. At no time would more than 25% of the value of their assets.the assets of the Borrower or of the Borrower and its consolidated Subsidiaries that are subject to any “arrangement” (as such term is used in [Section 221.2(g)] of such Regulation U) hereunder be represented by Margin Stock.

SECTION # Margin Stock. No Credit Party nor any Subsidiary thereof is engaged principally or as one of its activities in the business of extending credit for the purpose of “purchasing” or “carrying” any “margin stock” (as each such term is defined or used, directly or indirectly, in Regulation U of the Board of Governors of the Federal Reserve System). No part of the proceeds of any Loan hereunderof the Loans or Letters of Credit will be used directlyfor purchasing or indirectlycarrying margin stock or for any purpose which violatesviolates, or which would be inconsistent with, the provisions of Regulation T, U or X of such Board of Governors. Following the FRB as now and from time to time hereafter in effect. The Credit Parties and their Subsidiaries taken as a group doapplication of the proceeds of each Extension of Credit, not own “margin stock” except as identified in the financial statements referred to in Section 7.01 and the aggregate value of all “margin stock” owned by the Credit Parties and their Subsidiaries taken as a group does not exceed 25%more than twenty-five percent (25%) of the value of their assets.the assets (either of the Borrower only or of the Borrower and its Subsidiaries on a Consolidated basis) subject to the provisions of Section 9.2 or Section 9.5 will be “margin stock”.