Common use of Note Pricing Clause in Contracts

Note Pricing. All Revolving Grid Notes shall bear interest per annum at the prime rate of interest as reported from time to time under “Money Rates” in the Wall Street Journal, adjusted daily; provided, however, notwithstanding the foregoing, the minimum interest rate per annum shall at all times be not less than four percent (4%), and, provided, further, that the Borrowers shall have the right from time to time to increase such rate of interest in response to changing market conditions so long as the rate of interest on all existing Senior Debt which is payable to any Bank and which is evidenced by a Revolving Grid Note is also increased to such new rate. All Amortizing Notes or NV Notes shall bear interest per annum at a rate, calculated by reference to data obtained from Bloomberg (or in the event Bloomberg is unavailable for any reason, an equivalent data service recommended by the Borrowers which is acceptable to the Required Banks), equal to the ninety (90) day moving average rate of Treasury Notes with maturities specified at the time of the extension of credit plus 270 basis points; provided, however, notwithstanding the foregoing, the minimum interest rate per annum shall at all times be not less than five and a quarter percent (5.25%), and, provided, further, that the Borrowers shall have the right from time to time to increase the number of basis points in response to changing market conditions so long as no increase in the number of basis points is made within thirty (30) days following an extension of credit pursuant hereto by any Bank which is evidenced by an Amortizing Note or NV Notes bearing an interest rate calculated using a lower number of basis points. Each Single Pay Term Note shall bear interest per annum at such rate as may be agreed upon between the Borrowers and the Bank extending credit to be evidenced by such Single Pay Term Note.” (2) Section 7.13 of the Lending Agreement entitled “Transactions with Affiliates” is hereby deleted in its entirety and replaced with the following:

Note Pricing. All Revolving Grid Notes shall bear interest per annum at the prime rate of interest as reported from time to time under “Money Rates” Rates in the Wall Street Journaljournal, adjusted daily; provided, however, notwithstanding the foregoing, the minimum interest rate per annum shall at all times be not less than four percent (4%), and, provided, further, that the Borrowers Pioneer shall have the right from time to time to increase such rate of interest in response to changing market conditions so long as the rate of interest on all existing Senior Debt which is payable to any Bank and which is evidenced by a Revolving Grid Note also is also increased to such this new rate. All Amortizing Notes or NV Notes shall bear interest per annum at a rate, calculated by reference to data obtained from Bloomberg (or in the event Bloomberg is unavailable for any reason, an equivalent data service recommended by the Borrowers which is acceptable to the Required Banks)Bloomberg, equal to the ninety (90) day moving average rate of Treasury Notes with maturities specified at the time of the extension of credit plus 270 basis points; provided, however, notwithstanding the foregoing, the minimum interest rate per annum shall at all times be not less than five and a quarter percent (5.25%), and, provided, further, that the Borrowers Pioneer shall have the right from time to time to increase the number of basis points in response to changing market conditions so long as no increase in the number of basis points is made agreed upon within thirty (30) days following an extension of credit pursuant hereto by any Bank which is evidenced by an Amortizing Note or NV Notes bearing an interest rate calculated using a lower number of basis points. Each All Single Pay Term Note Notes shall bear interest per annum at such rate as may be agreed upon between the Borrowers Pioneer and the Bank extending credit to be evidenced by such a Single Pay Term Note.” (2) . Notwithstanding anything stated in this paragraph 3 of Section 7.13 III to the contrary, in the event of the Lending Agreement entitled “Transactions with Affiliates” increase in the ratio referred to in paragraph 6 of Section VIII the interest rate payable on all indebtedness evidenced by Revolving Grid Notes then outstanding hereunder and on all indebtedness incurred thereafter which is hereby deleted in its entirety evidenced by Revolving Grid Notes, Amortizing Notes and replaced with the following:Single Pay Term Notes shall automatically be increased by 25 basis points at all times such ratio is at least 6.5 to 1 but less than 7.5 to 1 and shall be increased by an additional 25 basis points at all times such ratio equals or exceeds 7.5 to 1.

Note Pricing. All Revolving Grid Notes shall bear interest per annum at the prime rate of interest as reported from time to time under “Money Rates” Rates in the The Wall Street Journal, adjusted daily; provided, however, notwithstanding the foregoing, the minimum interest rate per annum shall at all times be not less than four percent Five Percent (45.00%), and, provided, further, that the Borrowers shall have the right from time to time to increase such rate of interest in response to changing market conditions so long as the rate of interest on all existing Senior Debt which is payable to any Bank and which is evidenced by a Revolving Grid Note also is also increased to such new rate. All Amortizing Notes or NV Notes shall bear interest per annum at a rate, calculated by reference to data obtained from Bloomberg (or in the event Bloomberg is unavailable for any reason, an equivalent data service recommended by the Borrowers which is acceptable to the Required Banks), equal to the ninety (90) day moving average rate of Treasury Notes with maturities specified at the time of the extension of credit plus 270 basis points; provided, however, notwithstanding the foregoing, the minimum interest rate per annum shall at all times be not less than five Six and a quarter percent One Quarter Percent (5.256.25%), and, provided, further, that the Borrowers shall have the right from time to time to increase the number of basis points in response to changing market conditions so long as no increase in the number of basis points is made agreed upon within thirty (30) days following an extension of credit pursuant hereto by any Bank which is evidenced by an Amortizing Note or NV Notes bearing an interest rate calculated using a lower number of basis points. Each All Single Pay Term Note Notes shall bear interest per annum at such rate as may be agreed upon between the Borrowers and the Bank Banks extending credit to be evidenced by such a Single Pay Term Note.” (2) . The numerical designation of Sections 5 and 6 of Article III are hereby changed to Sections 6 and 7, respectively. 3. A new Section 7.13 5 of the Lending Agreement entitled “Transactions with Affiliates” Article III is hereby deleted in its entirety and replaced with the followingadded to such Senior Lending Agreement:

Note Pricing. All Revolving Grid Notes shall bear interest per annum at the prime rate of interest as reported from time to time under “Money Rates” in the Wall Street Journal, adjusted daily; provided, however, notwithstanding the foregoing, the minimum interest rate per annum shall at all times be not less than four five percent (45.0%), and, provided, further, that the Borrowers shall have the right from time to time to increase such rate of interest in response to changing market conditions so long as the rate of interest on all existing Senior Debt which is payable to any Bank and which is evidenced by a Revolving Grid Note is also increased to such new rate. All Amortizing Notes or NV Notes shall bear interest per annum at a rate, calculated by reference to data obtained from Bloomberg (or in the event Bloomberg is unavailable for any reason, an equivalent data service recommended by the Borrowers which is acceptable to the Required Banks), equal to the ninety (90) day moving average rate of Treasury Notes with maturities specified at the time of the extension of credit plus 270 basis points; provided, however, notwithstanding the foregoing, the minimum interest rate per annum shall at all times be not less than five six and a one-quarter percent (5.256.25%), and, provided, further, that the Borrowers shall have the right from time to time to increase the number of basis points in response to changing market conditions so long as no increase in the number of basis points is made within thirty (30) days following an extension of credit pursuant hereto by any Bank which is evidenced by an Amortizing Note or NV Notes bearing an interest rate calculated using a lower number of basis points. Each Single Pay Term Note shall bear interest per annum at such rate as may be agreed upon between the Borrowers and the Bank extending credit to be evidenced by such Single Pay Term Note.” (2) Section 7.13 of the Lending Agreement entitled “Transactions with Affiliates” is hereby deleted in its entirety and replaced with the following: