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EXHIBIT 10.11
AMENDMENT NO. 2 TO
AMENDED AND RESTATED 5-YEAR CREDIT AGREEMENT
This Amendment No. 2 (this "Amendment") is entered into as of August 2,
2000 by and among XXXXXX WORLDWIDE, INC., a Delaware corporation (the
"Company"), one or more Subsidiaries of the Company (whether now existing or
hereafter formed, collectively referred to herein as the "Subsidiary Borrowers"
and together with the Company, the "Borrowers"), the institutions from time to
time parties hereto as Lenders, ABN AMRO BANK N.V. in its capacity as
administrative agent (the "Administrative Agent") for itself and the other
Lenders, SUNTRUST BANK, ATLANTA, as Syndication Agent (the "Syndication Agent"),
and WACHOVIA BANK N.A., as Documentation Agent (the "Documentation Agent").
RECITALS
A. The Borrowers, the Agents and the Lenders are party to that
certain Amended and Restated 5-Year Credit Agreement dated as of December 31,
1999, as amended by that certain Amendment No. 1 dated as of March 31, 2000 (the
"Credit Agreement"). Unless otherwise specified herein, capitalized terms used
in this Amendment shall have the meanings ascribed to them by the Credit
Agreement.
B. The Borrowers, the Agents and the Lenders wish to amend the
Credit Agreement on the terms and conditions set forth below.
Now, therefore, in consideration of the mutual execution hereof and
other good and valuable consideration, the parties hereto agree as follows:
1. Amendments to Credit Agreement. Upon the "Effective
Date" (as defined below), the Credit Agreement shall be amended as follows:
(a) Section 1.1 of the Credit Agreement shall be amended by
inserting the following definitions in appropriate alphabetical order:
"COLLATERAL" means all personal property located in the United
States in which the Company, any Borrower which is a Domestic
Subsidiary or any Guarantor has an interest (excluding any interests in
leases of real property, Receivables sold pursuant to a securitization
permitted by Section 7.3(A) (together with certain equipment giving
rise to such Receivables and rights related thereto) and any interests
in contracts which by their terms are nonassignable) and all collateral
granted pursuant to the terms of the Pledge Agreements.
"COLLATERAL DOCUMENTS" means, collectively, (a) all security
agreements, mortgages, deeds of trust, patent and trademark assignments
with respect to any
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Collateral and other similar agreements between any Borrower or
Guarantor and the Lenders or the Collateral Agent or the Administrative
Agent for the benefit of the Lenders now or hereafter delivered to the
Lenders, the Collateral Agent or the Administrative Agent pursuant to
or in connection with the transactions contemplated hereby, and all
financing statements (or comparable documents now or hereafter fixed in
accordance with the UCC or comparable law) against any Borrower or
Guarantor as debtor in favor of the Lenders, Collateral Agent or the
Administrative Agent for the benefit of the Lenders as secured party,
(b) all Pledge Agreements and (c) any amendments, supplements,
modifications, renewals, replacements, consolidations, substitutions
and extensions of any of the foregoing.
"NET PROCEEDS" means (a) with respect to any Asset Sale, the
sum of cash or readily marketable cash equivalents received (including
by way of a cash generating sale or discounting of a note or
receivable, but excluding any other consideration received in the form
of assumption by the acquiring Person of debt or other obligations
relating to the properties or assets so disposed of or received in any
other non-cash form) therefrom, whether at the time of such disposition
or subsequent thereto, or (b) with respect to any sale or issuance of
any debt or equity securities of any Borrower, cash or readily
marketable cash equivalents received (but excluding any other non-cash
form) therefrom, whether at the time of such disposition, sale or
issuance or subsequent thereto, net, in either case, of all legal,
title and recording tax expenses, commissions and other fees and all
costs and expenses incurred and all federal, state, local and other
taxes required to be paid or accrued as a liability as a consequence of
such transactions and, in the case of an Asset Sale, any amount paid to
discharge Indebtedness secured by a Lien on the assets so sold, to the
extent such Indebtedness and Liens are each permitted by the terms of
this Agreement."
(b) The definition of "Leverage Ratio" contained in Section 1.1 of
the Credit Agreement shall be amended by adding the following sentence to the
end of such Section:
"Solely for purposes of determining compliance with the financial
covenant set forth in Section 7.4(B), Total Indebtedness shall be
reduced by the anticipated Net Proceeds of an Asset Sale which has not
been consummated but for which a letter of intent with respect thereto
has been executed during the period for which the covenant is
calculated and for which a definitive asset or stock purchase agreement
has been entered into on or before the date of the compliance
certificate demonstrating compliance with such covenant for such
period, with a closing scheduled not later than the last day of the
fiscal quarter immediately following the fiscal quarter for which the
pro-forma adjustment is made, and with no conditions to closing other
than customary closing conditions."
(c) The definition of "Loan Documents" contained in Section 1.1 of
the Credit Agreement shall be amended by deleting the words "the Pledge
Agreement" contained therein and replacing such words with the words "the
Collateral Documents"
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(d) The definition of "Receivable(s)" contained in Section 1.1 of
the Credit Agreement shall be amended, effective as of by deleting the words "or
chattel paper" from the parenthetical phrase contained therein.
(e) Section 2.5 of the Credit Agreement shall be amended by adding
the following new Sections 2.5(D):
"(D) Other Mandatory Prepayments
(i) The Company shall prepay the Revolving Credit
Obligations and Term Loans and the "Loans" under the 364-Day Credit
Agreement in an amount equal to 100% of (A) the Net Proceeds realized
upon any Asset Sale made by the Company or its Subsidiaries (B) any
insurance proceeds received by the Company or its Subsidiaries in
respect of any casualty involving such Person's property and (C) any
payments received by the Company or its Subsidiaries from a
condemnation of such Person's property, to the extent any of the
foregoing Net Proceeds are not applied (or committed to be applied)
within one hundred and twenty (120) days after the consummation or
receipt thereof, as applicable, to the purchase of similar assets used
or useful in the business of the Company or its Subsidiaries or to the
repair or restoration of the Borrowers' property. If the aggregate Net
Proceeds under clause (B) during any fiscal quarter exceed $5,000,000,
the Company shall give notice of its intent to reinvest any such
amounts (and the amount intended to be reinvested) to the
Administrative Agent upon receipt of such proceeds. Pending such
reinvestment, the Company shall use such Net Proceeds to pay down the
principal amount of the Revolving Loans and the "Loans" made under the
364-Day Credit Agreement to the extent thereof (but without a permanent
reduction of the Revolving Loan Commitments). If the Company does not
intend to so reinvest such Net Proceeds or if the period set forth in
the first sentence of this Section 2.5(D)(i) expires without the
Company having reinvested such Net Proceeds, the Company shall prepay
the Revolving Credit Obligations and Term Loans and the "Loans" made
under the 364-Day Credit Agreement (within one (1) Business Day of the
expiration of said one hundred and twenty (120) day period) in an
amount equal to the Net Proceeds of such Asset Disposition after giving
effect to all reinvestments permitted by this subsection.
(ii) If the Company or any Subsidiary shall issue new
Equity Interests or receive any capital contributions other than Equity
Interests issued to the Company or another Subsidiary, Equity Interests
issued in connection with employee stock option plans, employee stock
purchase plans, 401(k) plans and directors' deferred compensation plans
not to exceed an aggregate of 9,000,000 shares, and capital
contributions received from the Company or another Subsidiary, the
Company shall promptly notify the Administrative Agent of the estimated
Net Proceeds of such issuance to be received in respect thereof.
Promptly upon, and in no event later than one (1) Business Day after,
receipt by the Company or such Subsidiary of Net Proceeds of such
issuance, the Company shall prepay the "Revolving Credit Obligations"
and "Term Loans" under the 5-Year Credit Agreement in the amount of
such Net Proceeds.
(iii) After the payment or repayment in full of the Term
Loan, promptly upon, and in no event later than one (1) Business Day
after, the receipt by any Borrower of (1)
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the Net Proceeds from any sale of United States domestic Receivables
arising through an increase in advances made under the applicable
receivable securitization but limited to the amount of that increase or
(2) the Net Proceeds from the incurrence of any single issue of
Indebtedness in excess of $50,000,000 which is not permitted by Section
7.3(D)(i)-(iv) hereof, the Company shall prepay the Revolving Credit
Obligations and "Revolving Credit Obligations" under the 364-Day Credit
Agreement in the amount of such Net Proceeds.
(iv) Notwithstanding Sections 2.5(D)(i) through (iii), the
Company shall be required to make prepayments only after and to the
extent that the aggregate Net Proceeds otherwise required to be paid
under all such Sections exceed $75,000,000. The Aggregate Revolving
Loan Commitment and the "Aggregate Revolving Loan Commitment" under the
364-Day Credit Agreement shall be permanently reduced, and the
outstanding principal amount of the Term Loans shall be repaid, pro
rata (relative to the amount of the Aggregate Revolving Loan Commitment
and the "Aggregate Revolving Credit Commitment" under the 364-Day
Credit Agreement and the outstanding principal amount of the Term
Loans) by the amount of the prepayments required by this Section
2.5(D). The prepayments not applied to the Term Loan pursuant to the
immediately preceding sentence shall be applied first to the "Revolving
Credit Obligations" under the 364-Day Credit Agreement and then to the
Revolving Credit Obligations hereunder; provided that if prepayment of
all of the "Revolving Credit Obligations" under the 364-Day Credit
Agreement before any of the Revolving Credit Obligations hereunder,
together with the required reduction in the Aggregate Revolving Loan
Commitment, would cause the aggregate principal Dollar Amount of the
Revolving Credit Obligations to exceed the amount of the Aggregate
Revolving Loan Commitment, the prepayment shall be applied to the
Revolving Credit Obligations in an amount such that, after giving
effect to such prepayment and the required reduction in the Aggregate
Revolving Loan Commitment, the Revolving Credit Obligations equals the
Aggregate Revolving Loan Commitment and the amount of the prepayment to
be applied to the "Revolving Credit Obligations" under the 364-Day
Credit Agreement shall be reduced accordingly."
(f) Section 2.15(D)(ii) of the Credit Agreement shall be amended
by deleting the last sentence of such subsection, deleting the table contained
in such subsection and replacing such table with the following table:
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APPLICABLE
FLOATING RATE APPLICABLE COMMITMENT
LEVERAGE RATIO MARGIN APPLICABLE EUROCURRENCY MARGIN FEE PERCENTAGE
-----------------------------------------------------------------------------------------------------------
Less than 2.50 1.00% 2.00% 0.500%
2.50 or greater, but less than 3.00 1.50% 2.50% 0.500%
3.00 or greater, but less than 3.25 1.75% 2.75% 0.625%
3.25 or greater, but less than 3.50 2.00% 3.00% 0.625%
3.50 or greater 2.25% 3.25% 0.750%
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(g) The following new Section 2.25 shall be inserted into the
Credit Agreement:
"2.25 Security. All Obligations of the Borrowers and the
Guarantors under this Agreement and all other Loan Documents shall be
secured in accordance with the Collateral Documents."
(h) The following new Section 6.24 shall be inserted into the
Credit Agreement:
"6.24 Collateral Documents. All representations and
warranties of the Borrowers contained in the Collateral Documents are
true and correct."
(i) The following new Section 6.25 shall be inserted into the
Credit Agreement:
"6.25 Security. The provisions of the Collateral Documents
are effective to create and give the Collateral Agent, for the benefit
of the Lenders, as security for the repayment of the obligations
secured thereby, a legal, valid, perfected and enforceable Lien (which
priority is subject only to prior Liens permitted by the Loan
Documents) upon all right, title and interest of the Company and its
Subsidiaries in any and all of the Collateral described therein."
(j) Section 7.2(K) shall be amended by inserting the following
text at the end of each of Section 7.2(K)(a) and (b):
"and cause such Guarantors to execute and deliver to the Administrative
Agent such Collateral Documents as the Collateral Agent or the
Administrative Agent may reasonably require;"
(k) Section 7.3(A) shall be amended by deleting the proviso
thereto and replacing such proviso with the following:
"; provided, in the case of United States domestic Receivables that
proceeds from the sale of such Receivables are used to prepay the Loans
and the "Loans" under the 364-Day Credit Agreement pursuant to Sections
2.5(C) and (D)."
(l) Section 7.3(C)(iv) of the Credit Agreement shall be amended,
effective as of June 7, 2000, by inserting the parenthetical "(together with
certain equipment giving rise to such Receivables and rights related thereto)"
immediately after each reference to "Receivables."
(m) Section 7.3(D) of the Credit Agreement shall be amended by
deleting the words "of the type described in clause (i) of the definition
thereof" from Sections 7.3(D)(ii) and (iii), deleting Section 7.3(D)(iv) in its
entirety and inserting the following new Section 7.3(D)(iv):
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"(iv) Indebtedness arising from intercompany loans and
advances from the Company or any Subsidiary to any Domestic Subsidiary
which is a Guarantor or from any Subsidiary to the Company; provided,
that such Indebtedness shall be expressly subordinate to the payment in
full in cash of the Obligations."
(n) Section 7.3(F) of the Credit Agreement shall be amended by
deleting such Section in its entirety and inserting the following new Section
7.3(F)
"(F) Restricted Payments. The Company shall not, nor shall
it permit any Subsidiary to, make or declare any Restricted Payments
other than (i) the Dividend, and (ii) Restricted Payments to the
Company or to a Wholly-Owned Subsidiary of the Company."
(o) Section 7.3(G) of the Credit Agreement shall be amended by
deleting Sections 7.3(G)(iii) and (iv) in its entirety and replacing them with
the following:
"(iii) [intentionally omitted]
(iv) if the purchase price for the Acquisition (or a series of related
Acquisitions) exceeds $5,000,000, or together with all other Permitted
Acquisitions permitted under this Section 7.3(G) during the same fiscal
year, exceeds $10,000,000 (the "Permitted Acquisition Basket")
(including the incurrence or assumption of any Indebtedness in
connection therewith), the Required Lenders shall have consented to
such Acquisition; provided that if the Leverage Ratio as reflected in
the most recently delivered financial statements, delivered pursuant to
Sections 7.1(A)(i) and (ii), as applicable, adjusted to reflect the
proposed Acquisition, does not exceed (a) 3.00, the Permitted
Acquisition Basket shall be $25,000,000 or (b) 2.50, the Permitted
Acquisition Basket shall be $50,000,000;"
(p) Section 7.3(H)(iv) of the Credit Agreement shall be amended by
deleting such Section in its entirety and inserting the following new Section
7.3(H)(iv):
"(iv) Investments received as proceeds from the sale of any portion of
the Company's business permitted hereby, provided that the proceeds
received from any such sale consisting of such Investments shall not
exceed 25% (or with the consent of each of the Agents, 33%) of the
total proceeds received from such sale."
(q) Section 7.3(Q) of the Credit Agreement shall be amended by
deleting such Section in its entirety and inserting the following new Section
7.3(Q):
"(Q) Capital Expenditures. The Company shall not, and shall not
permit any of its Subsidiaries to, make Capital Expenditures
in any fiscal year to the extent that during any fiscal year
the aggregate amount of Capital Expenditures for the Company
and its Subsidiaries would exceed $125,000,000."
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(r) Section 7.4 of the Credit Agreement shall be amended,
effective as of June 30, 2000, by deleting such Section in its entirety and
inserting the following new Section 7.4:
"7.4 Financial Covenants
(A) Minimum Coverage Ratio. The Company shall maintain as of the
end of each fiscal quarter set forth below a ratio of (i)
EBITDAR for the four fiscal quarter period then ending to (ii)
Interest Expense plus Rentals for such period of not less than
the ratio set forth below opposite such period:
FISCAL QUARTER ENDING RATIO
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December 31, 1999 through June 30, 2000 2.25
July 1, 2000 through June 29, 2001 1.85
June 30, 2001 through June 28, 2002 2.15
June 29, 2002 through June 27, 2003 2.25
June 28, 2003 through July 2, 2004 2.50
July 3, 2004 and thereafter 3.00
(B) Maximum Leverage Ratio. The Company shall maintain as of the
end of each fiscal quarter set forth below a Leverage Ratio
for the four fiscal quarter period then ending of not greater
than the ratio set forth below opposite such period:
FISCAL QUARTER ENDING RATIO
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December 31, 1999 through December 31, 2000 4.00
March 31, 2001 3.85
June 29, 2001 3.60
June 30, 2001 through June 28, 2002 3.25
June 29, 2002 through June 27, 2003 3.00
June 28, 2003 through July 2, 2004 2.50
July 3, 2004 and thereafter 2.00
(C) Minimum Consolidated Net Worth. The Company shall not permit
its Consolidated Net Worth at any time to be less than the sum
of (a) $146,882,000 plus (b) fifty percent (50%) of Net Income
(if positive) calculated separately for (i) the remainder of
the quarterly accounting period in which the Closing Date
occurs and (ii) each subsequent quarterly accounting period,
in each case, excluding changes in cumulative foreign exchange
translation adjustment, restructuring charges for the fiscal
quarter ended June 30, 2000 (in an aggregate amount not to
exceed $35,000,000), and one time gains on the sale of any
portion of the Company's business from and after July 1, 2000
(in an aggregate amount up to the amount of the restructuring
charges excluded by the preceding phrase)."
(D) Compliance with Covenants Under Other Indebtedness. The
Company shall at all times remain in compliance with all
financial, affirmative and negative covenants set forth in any
securitization agreement or any other documentation evidencing
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Indebtedness in excess of $10,000,000 (in the case of
financial covenants, without giving effect to any grace period
or waiver with respect thereto)."
(s) Section 8.1(N) of the Credit Agreement shall be amended by
deleting such Section in its entirety and inserting the following new Section
8.1(N):
"(N) Collateral Documents. Any Collateral Documents shall fail to
remain in full force or effect, except as permitted by the
terms of such Collateral Documents, any action shall be taken
by any Borrower or Guarantor (or by any other Person if the
Administrative Agent reasonably believes that such action may
result in the discontinuation, invalidity or unenforceability
of any Collateral Document) to discontinue or to assert the
invalidity or uneforceability of any Collateral Document, or
any "Default" or "Unmatured Default" shall occur under and as
defined in any Collateral Document or any Borrower or
Guarantor shall deny, or give notice to such effect, that it
has any further liability under such Collateral Document or
any Collateral Document shall for any reason fail to create a
valid and perfected, first priority security interest in any
Collateral purported to be covered thereby, except as
permitted by the terms of such Collateral Document."
(t) Section 12.13 of the Credit Agreement shall be amended by
deleting the words "the Pledge Agreements" contained therein and replacing such
words with the words "the Collateral Documents."
(u) Exhibit F to the Agreement shall be amended by inserting the
following new paragraph immediately after paragraph 4 thereof:
"5. Any insurance proceeds or proceeds from
condemnation of the property of the Company or its
Subsidiaries have been applied (or committed to be applied)
within one hundred and twenty (120) days after receipt thereof
to the purchase of similar assets used or useful in the
business of the Company or its Subsidiaries or to the repair
or restoration of the Borrowers' property or prepayments have
been made in compliance with Section 2.5(D)(i)."
(v) The corporate organizational chart attached to Schedule 6.8 to
the Credit Agreement shall be amended to reflect that 20.4% of Xxxxxx Pacific
Pty. Ltd. is owned by Xxxxxx Holdings, Inc. and 79.6% of Xxxxxx Pacific Pty.
Ltd. is owned by Xxxxxx Worldwide, Inc.
2. Covenants. Each Borrower covenants and agrees to
deliver, or cause to be delivered, to the Administrative Agent, as soon as
possible and in any event not later than August 31, 2000 (or such longer period
as the Administrative Agent may approve) the following items, all in form and
substance reasonably satisfactory to the Administrative Agent:
(a) such duly executed Collateral Documents as
the Administrative Agent may reasonably request (subject to foreign tax
and materiality considerations), together with insurance certificates
naming the Collateral Agent, on behalf of the Lenders, as loss payee
for any casualty policies and additional insured for any liability
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policies in form and substance reasonably acceptable to the Collateral
Agent and the Administrative Agent;
(b) such duly completed and executed UCC-1
financing statements as the Collateral Agent shall have reasonably
requested to perfect its security interest in the Collateral under the
Collateral Documents; copies of searches of financing statements filed
under the Uniform Commercial Code, together with tax lien and judgment
searches with respect to the assets of the Company and the Guarantors,
in both cases in such jurisdictions as the Collateral Agent or the
Administrative Agent may request; and such duly executed UCC-3
termination statements, mortgage releases and similar documents as the
Collateral Agent or the Administrative Agent may reasonably request to
release Liens other than Liens permitted by the Credit Agreement;
(c) proof that the appropriate financing
statements covering the Collateral under the Collateral Documents,
including, without limitation, such fixture filings as the Collateral
Agent or the Administrative Agent may request, have been executed and
delivered by the Company or a Guarantor, as the case may be, and filed
or recorded in such jurisdictions as the Collateral Agent or the
Administrative Agent shall have specified or other arrangements with
respect to filing or recording reasonably satisfactory to the
Administrative Agent have been made;
(d) the written opinions of the Loan Parties'
United States counsel, and, if applicable, foreign counsel, addressed
to the Collateral Agent, Administrative Agent and the Lenders, in form
and substance reasonably satisfactory to the Collateral Agent and the
Administrative Agent; and
(e) such other documents as the Collateral Agent
or the Administrative Agent may have reasonably requested.
3. Representations and Warranties of the Borrowers. Each
Borrower represents and warrants that:
(a) Such Borrower has the requisite power and
authority and legal right to execute and deliver this Amendment and to perform
its obligations hereunder. The execution and delivery by such Borrower of this
Amendment and the performance of its obligations hereunder have been duly
authorized by proper proceedings, and this Amendment constitutes a legal, valid
and binding obligation of such Borrower enforceable against such Borrower in
accordance with its terms, except as enforceability may be limited by any
bankruptcy, insolvency or similar law affecting the enforcement of creditors'
rights generally;
(b) Each of the representations and warranties
contained in the Credit Agreement and the other Loan Documents is true and
correct in all material respects on and as of the date hereof as if made on the
date hereof; and
(c) After giving effect to this amendment, no
Default or Unmatured Default has occurred and is continuing.
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4. Effective Date. This Amendment shall become effective
on the date (the "Effective Date") on which each of the following items shall
have been received by Administrative Agent or satisfied, as the case may be, all
in form and substance satisfactory to the Administrative Agent:
(a) duly executed Amendment, executed by the
Borrowers, the Agents and the Required Lenders (without respect to
whether it has been executed by all the Lenders);
(b) a reaffirmation of guaranty, in form and
substance satisfactory to the Administrative Agent, duly executed by
each Guarantor;
(c) duly executed Amendment No. 4 to the 364-Day
Credit Agreement;
(d) payment of an amendment fee to the
Administrative Agent, for the ratable benefit of each Lender signatory
to this Amendment, in an amount equal to 0.200% of the aggregate
Commitments of such Lenders; and
(e) such other documents as the Collateral Agent
or the Administrative Agent or its counsel may have reasonably
requested.
5. Reference to and Effect Upon the Credit Agreement.
(a) Except as specifically amended above, the
Credit Agreement and the other Loan Documents shall remain in full force and
effect and are hereby ratified and confirmed.
(b) The execution, delivery and effectiveness of
this Amendment shall not operate as a waiver of any other right, power or remedy
of any Agent or Lender under the Credit Agreement or any other Loan Document, or
constitute a waiver of any provision of the Credit Agreement or any Loan
Document, except as specifically set forth herein. Upon the effectiveness of
this Amendment, each reference in the Credit Agreement to "this Agreement",
"hereunder", "hereof" or words of similar import shall mean and be a reference
to the Credit Agreement as amended hereby, and each reference in the other Loan
Documents to the Credit Agreement shall mean and be a reference to the Credit
Agreement as amended hereby.
6. Costs and Expenses. Each Borrower hereby affirms its
obligation under Section 11.6 of the Credit Agreement to reimburse the
Collateral Agent and the Administrative Agent for all reasonable costs and
out-of-pocket expenses (including reasonable attorneys' and paralegals' fees and
time charges of attorneys and paralegals for the Collateral Agent and the
Administrative Agent) paid or incurred by the Collateral Agent or the
Administrative Agent in connection with the preparation, negotiation, execution,
delivery, syndication, review, proposed or completed amendment, waiver or
modification, and administration of the Loan Documents.
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7. GOVERNING LAW. ANY DISPUTE BETWEEN ANY BORROWER AND
THE ADMINISTRATIVE AGENT, ANY LENDER OR ANY OTHER HOLDER OF OBLIGATIONS ARISING
OUT OF, CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP
ESTABLISHED BETWEEN THEM IN CONNECTION WITH, THIS AMENDMENT OR ANY OF THE OTHER
LOAN DOCUMENTS, AND WHETHER ARISING IN CONTRACT, TORT, EQUITY, OR OTHERWISE,
SHALL BE RESOLVED IN ACCORDANCE WITH THE INTERNAL LAWS (BUT WITHOUT REGARD TO
THE CONFLICTS OF LAWS PROVISIONS) OF THE STATE OF NEW YORK.
8. Headings. Section headings in this Amendment are
included herein for convenience of reference only and shall not constitute a
part of this Amendment for any other purposes.
9. Counterparts. This Amendment may be executed in any
number of counterparts, each of which when so executed shall be deemed an
original but all of such counterparts shall constitute one and the same
instrument.
IN WITNESS WHEREOF, the Company, the Subsidiary Borrowers, the Lenders
and the Administrative Agent have executed this Amendment No. 2 as of the date
first above written.
XXXXXX WORLDWIDE, INC., as the Company
By:
-------------------------------------------
Name:
Title:
XXXXXX EUROPE AG, as a Subsidiary Borrower
By:
-------------------------------------------
Name:
Title:
XXXXXX EUROPE B.V., as a Subsidiary Borrower
By:
-------------------------------------------
Name:
Title:
XXXXXX PUERTO RICO, INC., as a Subsidiary
Borrower
By:
-------------------------------------------
Name:
Title:
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ABN AMRO BANK N.V., as Administrative
Agent, Issuing Bank, Dollar Swing Line Bank,
Alternate Currency Bank, and Lender
By:
-------------------------------------------
Name:
Title:
By:
-------------------------------------------
Name:
Title:
ABN AMRO BANK N.V., BELGIUM
BRANCH, as Multicurrency Swing Line Bank and
Lender
By:
-------------------------------------------
Name:
Title:
By:
-------------------------------------------
Name:
Title:
SUNTRUST BANK, ATLANTA, as Syndication
Agent and Lender
By:
-------------------------------------------
Name:
Title:
WACHOVIA BANK N.A., as Documentation
Agent and Lender
By:
-------------------------------------------
Name:
Title:
FIRST UNION NATIONAL BANK., as Lender
By:
-------------------------------------------
Name:
Title:
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BANK ONE, NA (MAIN CHICAGO OFFICE),
as Lender
By:
-------------------------------------------
Name:
Title:
BANCO POPULAR DE PUERTO RICO, as
Lender
By:
-------------------------------------------
Name:
Title:
BANK OF MONTREAL, as Lender
By:
-------------------------------------------
Name:
Title:
THE BANK OF NEW YORK, as Lender
By:
-------------------------------------------
Name:
Title:
THE BANK OF NOVA SCOTIA, as Lender
By:
-------------------------------------------
Name:
Title:
THE BANK OF TOKYO-MITSUBISHI LTD.,
as Lender
By:
-------------------------------------------
Name:
Title:
BANQUE NATIONALE DE PARIS, as Lender
By:
-------------------------------------------
Name:
Title:
CREDIT SUISSE FIRST BOSTON, as Lender
By:
-------------------------------------------
Name:
Title:
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DRESDNER BANK LATEINAMERIKA
AKTIENGESELLSCHAFT, MIAMI AGENCY,
as Lender
By:
-------------------------------------------
Name:
Title:
FIRSTAR BANK N.A., as Lender
By:
-------------------------------------------
Name:
Title:
REGIONS BANK, as Lender
By:
-------------------------------------------
Name:
Title:
BANCA DI ROMA, NEW YORK BRANCH, as
Lender
By:
-------------------------------------------
Name:
Title:
ERSTE BANK, NEW YORK BRANCH, as
Lender
By:
-------------------------------------------
Name:
Title:
HIBERNIA NATIONAL BANK, as Lender
By:
-------------------------------------------
Name:
Title:
COMERICA BANK, as Lender
By:
-------------------------------------------
Name:
Title:
14
15
IBM CREDIT CORPORATION, as Lender
By:
-------------------------------------------
Name:
Title:
XXXXX XXX, as Lender
By:
-------------------------------------------
Name:
Title:
FUJI BANK, as Lender
By:
-------------------------------------------
Name:
Title:
15
