Exhibit 6a4i
CONFORMED COPY
DATED 15 MAY 2000
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TRANS-CONTINENTAL LEAF TOBACCO CORPORATION LIMITED, STANDARD COMMERCIAL (1)
TOBACCO COMPANY (UK) LIMITED AND STANDARD COMMERCIAL TOBACCO CO., INC.
(AS BORROWERS)
- and -
STANDARD COMMERCIAL CORPORATION (2)
(AS GUARANTOR)
- and -
THE STEERING COMMITTEE (3)
- and -
DEUTSCHE BANK A.G. IN HAMBURG (4)
(AS LEAD BANK)
- and -
MEESPIERSON N.V. (5)
(AS INTERNATIONAL SECURITY AGENT)
- and -
FIRST UNION NATIONAL BANK (6)
(AS US SECURITY AGENT)
- and -
THE BANKS (7)
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FIFTH SUPPLEMENTAL AGREEMENT
TO THE MASTER FACILITIES AGREEMENT
--------------------------------------------------------------------------------
THIS AGREEMENT is made the 15th May 2000
BETWEEN:
(1) THE COMPANIES LISTED IN SCHEDULE 1 (the "Borrowers");
(2) STANDARD COMMERCIAL CORPORATION (Federal Tax Identification Number
13/1337610) whose registered office is at 0000 Xxxxxx Xxxx, XX Xxx 000,
Xxxxxx XX 00000-0000, XXX ("SCC");
(3) DEUTSCHE BANK A.G. IN HAMBURG, MEESPIERSON N.V., FIRST UNION
NATIONAL BANK, NORDDEUTSCHE LANDESBANK GIROZENTRALE AND WESTDEUTSCHE
LANDESBANK GIROZENTRALE (the "Steering Committee");
(4) DEUTSCHE BANK A.G. IN HAMBURG (the "Lead Bank");
(5) MEESPIERSON N.V. (the "International Security Agent");
(6) FIRST UNION NATIONAL BANK (the "US Security Agent");
(7) THE BANKS LISTED IN SCHEDULE 2 (the "Banks").
WHEREAS:
(A) On 5 May, 1995, certain of the parties entered into the MFA (as defined
below).
(B) The MFA was amended and supplemented by a first supplemental agreement
dated 1 February 1996, a second supplemental agreement dated 16 July
1996, a third supplemental agreement dated 31 July 1997 and a fourth
supplemental agreement dated 19 May 1999.
(C) The parties now wish to amend and supplement the MFA as set out in this
Agreement.
IT IS AGREED:
1. DEFINITIONS
1.1 Save as expressly provided in this Agreement, expressions defined in
the MFA shall bear the same meanings in this Agreement and principles
of interpretation applicable to the MFA shall also apply to this
Agreement.
1.2 In this Agreement the following expressions shall have the following
respective meanings:
"MFA" means the Master Facilities Agreement dated 5th May 1995 as
amended by a first Supplemental Agreement dated 1 February 1996 , by a
Second Supplemental Agreement dated 16 July 1996, a Third Supplemental
Agreement dated 31 July 1997 and a Fourth Supplemental Agreement dated
19 May 1999 and otherwise as amended, varied, supplemented and in
force immediately prior to the Effective Date;
"Effective Date" means the first date on which the Lead Bank shall have
received the documents and payments referred to in clause 3 below,
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satisfactory in form and substance to the Lead Bank and on which the
Lead Bank is satisfied with the matters referred to in clause 3 of this
Agreement;
1.3 Unless otherwise specified, any reference in this Agreement to a
Clause or a Schedule is to a Clause or a Schedule of the MFA.
1.4 The MFA shall be amended as set out below.
2. AMENDMENT
2.1 TRANSFER TO DRESDNER BANK A.G.
It was noted that Berliner Bank AG had transferred its commitment to
Dresdner Bank AG in Hamburg pursuant to clause 21 of the MFA and that
Berliner Bank AG had therefore ceased to be a Bank and Dresdner Bank AG
in Hamburg had become a Bank.
2.2 INCREASE IN FACILITIES
With effect from the Effective Date, the aggregate amount of the
Facilities shall be increased from $233,000,000 to $250,000,000 and
Rabobank International, London Branch shall become a Bank.
2.3 AMENDMENT TO SCHEDULE II
In order to reflect the changes referred to above, with effect from the
Effective Date, the MFA shall be amended by deleting the existing
Schedule II to the MFA and replacing it with the following:
SCHEDULE II
THE BANKS
Bank Commitment
----------------------------------------------------
ABN Amro Bank $ 15,000,000
Dresdner Bank AG $ 17,000,000
Berenberg Bank $ 7,500,000
BHF Bank AG $ 15,000,000
Crestar Bank, Inc. $ 15,000,000
Commerzbank AG $ 15,000,000
Deutsche Bank AG $ 40,000,000
KBC Bank NV $ 12,500,000
MeesPierson NV $ 20,000,000
Norddeutsche Landesbank Girozentrale $ 23,000,000
Standard Chartered Bank $ 20,000,000
Westdeutsche Landesbank Girozentrale $ 20,000,000
Rabobank International, London Branch $ 15,000,000
First Union National Bank $ 15,000,000
Total $250,000,000
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2.4 AMENDMENT TO SCHEDULE IV
With effect from the Effective Date, the MFA shall be amended by
deleting the existing Part I of Schedule IV to the MFA and replacing it
with the following:
SCHEDULE IV
PART I
THE FACILITY LETTERS
===============================================================================================================
Bank Borrower Type of Facility
---------------------------------------------------------------------------------------------------------------
ABN Amro Bank Standard Commercial Tobacco Company (UK) $15,000,000 revolving credit
Limited, Trans-Continental Leaf Tobacco facility and letter of credit
Corporation Limited and Standard issuance facility
Commercial Tobacco Co., Inc.,
---------------------------------------------------------------------------------------------------------------
BHF-Bank Standard Commercial Tobacco Co., Inc., Revolving
Aktiengesellschaft Raleigh, Standard Commercial Tobacco
Company (UK) Limited, Godalming,
Trans-Continental Leaf Tobacco
Corporation Limited, Vaduz
---------------------------------------------------------------------------------------------------------------
Commerzbank Standard Commercial Tobacco (UK) Limited, $15,000,000 Revolving Facility
Aktiengesellschaft Trans-Continental Leaf Tobacco Corporation
Limited and Standard Commercial Tobacco
Co., Inc.
---------------------------------------------------------------------------------------------------------------
MeesPierson N.V. Standard Wool Argentina S.A., Xxxxxxx & Revolving
Co. B.V., Xxxxxxx & Company GmbH,
Standard Commercial Tobacco Company (UK)
Limited, Trans-Continental Leaf Tobacco Foreign Exchange
Corporation Limited, Xxxxxxx Freres &
Cie S.A., Standard Wool (UK) Limited and
Jacomb Hoare (Bradford) Limited
---------------------------------------------------------------------------------------------------------------
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===============================================================================================================
Bank Borrower Type of Facility
---------------------------------------------------------------------------------------------------------------
Norddeutsche Landesbank Standard Commercial Tobacco Company (UK) Revolving
Girozentrale Limited, Trans-Continental Leaf Tobacco Available for cash credits,
Corporation Limited and Standard short term loans, L/Cs/bank
Commercial Tobacco Co., Inc. guarantees
---------------------------------------------------------------------------------------------------------------
Westdeutsche Landesbank Standard Commercial Tobacco Company (UK) $20,000,000 Revolving Facility
Girozentrale Limited, Trans-Continental Leaf Tobacco
Corporation Limited and Standard
Commercial Tobacco Co., Inc
---------------------------------------------------------------------------------------------------------------
Joh. Berenberg, Xxxxxxx & Standard Commercial Tobacco Company (UK) $7,500,000 Revolving
Co. Limited, Trans-Continental Leaf Tobacco Facility
Corporation Limited and Standard
Commercial Tobacco Co., Inc.
---------------------------------------------------------------------------------------------------------------
Deutsche Bank Standard Commercial Tobacco Company (UK) $40,000,000 Revolving Facility
AG in Hamburg Limited, Trans-Continental Leaf Tobacco
Corporation Limited and Standard
Commercial Tobacco Co., Inc.
---------------------------------------------------------------------------------------------------------------
First Union National Bank Trans-Continental Leaf Tobacco Corporation $15,000,000 Revolving Credit
Limited, Standard Commercial Tobacco Facility
Company (UK) Limited, Standard Commercial
Tobacco Co., Inc.
---------------------------------------------------------------------------------------------------------------
Dresdner Bank AG in Standard Commercial Tobacco Company (UK) $17,000,000 Revolving
Hamburg Limited, Trans-Continental Leaf Tobacco Facility; available for cash
Corporation Limited and Standard credits, short term loans and
Commercial Tobacco Co., Inc. L/Cs/bank guarantees
---------------------------------------------------------------------------------------------------------------
Crestar Bank, Inc. Standard Commercial Tobacco Company (UK) $15,000,000 revolving facility
Limited, Trans-Continental Leaf Tobacco
Corporation Limited and Standard
Commercial Tobacco Co., Inc
---------------------------------------------------------------------------------------------------------------
-5-
===============================================================================================================
Bank Borrower Type of Facility
---------------------------------------------------------------------------------------------------------------
Standard Chartered Bank Standard Commercial Tobacco Company (UK) Revolving
Limited, Trans-Continental Leaf Tobacco
Corporation Limited and Standard
Commercial Tobacco Co., Inc
---------------------------------------------------------------------------------------------------------------
KBC Bank N.V. Standard Commercial Tobacco Company (UK) Revolving
Limited, Trans-Continental Leaf Tobacco
Corporation Limited and Standard
Commercial Tobacco Co., Inc.
---------------------------------------------------------------------------------------------------------------
Rabobank International Standard Commercial Tobacco Company (UK) $15,000,000 Revolving Credit
(Cooperatieve Centrale Limited, Trans-Continental Leaf Tobacco Facility and Letter of Credit
Raiffeisen Corporation Limited and Standard Issuance Facility
-Boerenleenbank B.A.) Commercial Tobacco Co., Inc
===============================================================================================================
Each of the facility letters from time to time entered into by the
Banks in connection with the facilities pursuant to which a Bank makes
available its Commitment (in each case as amended and supplemented from
time to time in accordance with the MFA) is designated by the Lead Bank
(acting with Majority Bank approval) and SCC as a Facility Letter under
the MFA for all purposes and each such facility is designated as a
"Facility" under the MFA for all purposes by the Lead Bank (acting with
Majority Bank approval) and SCTC Inc.
2.5 CLAUSE 21
Clause 21.2(b) of the MFA shall be amended by adding the words "rights
and" before "obligations" and clause 21.4(c) of the MFA shall be
amended by adding the words "in place of the Transferor" after the
words "Finance Party" in line four of that clause.
3. CONDITIONS PRECEDENT
3.1 (a) AGREEMENT: this Agreement duly signed on behalf of each of the
parties.
(b) COMPANY DOCUMENTS
(i) CERTIFICATE OF AUTHORISATION: in relation to the
Borrowers and SCC, a certificate signed by a duly
authorised director to the effect that the requisite
resolution of its board of directors has been duly
and properly passed:-
(1) authorising its execution, delivery and
performance of this Agreement; and
-6-
(2) authorising a named person or persons
specified in such certificate and whose
specimen signatures appear there to sign this
Agreement and any amendments and renewals
thereof and to give any notices or
certificates required in connection with such
documents,
and confirming that such resolutions are still in
effect and have not been varied or rescinded and also
confirming that there have been no changes to the
constitutional documents of the Borrowers and SCC
since the copies previously provided to the Lead Bank
under the MFA;
(ii) AUTHORISING BOARD RESOLUTIONS: a certified copy of
the resolutions of the board of directors referred to
in paragraph (b)(i) above or an original Resolution
by Circular Letter of TCLTC in the agreed terms
unless local legal counsel to the Lead Bank and the
Security Agents advises that this is not necessary;
(iii) CERTIFICATE OF AUTHORISATION OF OTHER OBLIGORS: in
relation to each Obligor other than SCTC Inc, SCTC
(UK), TCLTC, and SCC, a certificate of one of its
directors to the effect that the requisite resolution
of its board of directors has been duly and properly
passed approving this Agreement and confirming that
such resolutions are still in effect and have not
been varied or rescinded or a certificate in such
other form as local legal counsel to the Lead Bank
and the Security Agents consider to be satisfactory
and also confirming that there have been no changes
to the constitutional documents of the Obligors since
the copies previously provided to the Lead Bank under
the MFA;
(iv) AUTHORISING BOARD RESOLUTIONS: a certified copy of
the resolutions of the board of directors of each of
the other Obligors referred to in paragraph (b)(iii)
above;
(b) DIRECTORS' CERTIFICATES: a certificate (signed in each case by
a duly authorised director) of each of SCTC Inc. SCTC (UK) and
TCLTC and SCC that, after making diligent enquiry, the
directors are not aware that any Event of Default or Potential
Event of Default under the MFA has occurred and is Continuing.
(c) BANK MANDATES: such bank mandates, specimen signatures and
similar documentation as each of Dresdner Bank AG in Hamburg
and Rabobank International London Branch may require in order
to enable each of the Facilities made available by it to be
utilised by each of the Borrowers, duly signed on behalf of
the relevant Borrower(s);
(d) OTHER DOCUMENTATION: such other documentation as the Lead
Bank may specify in writing.
3.2 The Lead Bank shall be entitled to disregard discrepancies in any of
the conditions precedent produced to it pursuant to clause 3.1 of this
Agreement where it considers that such discrepancy is of a minor and
non-material nature.
3.3 All fees payable to the respective legal advisers of the Lead Bank, the
International Security Agent and the US Security Agent shall be paid
together with any disbursements and any applicable taxes in full within
five Business Days of the Effective Date.
-7-
4. CONSTRUCTION
4.1 The MFA and this Agreement shall after the date of this Agreement be
read and construed as one document and references in the MFA and each
Finance Document to the MFA shall be read and construed as references
to the MFA as supplemented and amended by this Agreement.
4.2 The MFA shall continue in full force and effect, save as otherwise
expressly amended by this Agreement.
4.3 The amendments contained in this Agreement shall be without prejudice
to any rights and liabilities arising under the MFA by reference to any
acts, omissions and events occurring before such amendments come into
effect.
5. COSTS AND EXPENSES
SCTC Inc. will reimburse the Lead Bank and each of the Security Agents
on demand all reasonable costs and expenses (including legal costs and
out-of-pocket expenses) and all value added tax thereon incurred by the
Bank in connection with the negotiation, preparation and execution of
this Agreement and any condition precedent documentation contemplated
in it.
6. COUNTERPARTS
This Agreement may be executed in any number of counterparts, all of
which when taken together shall constitute a single instrument.
7. NOTICES
The provisions of Clause 32 (Notices) of the MFA shall be deemed to be
incorporated, mutatis mutandis, in this Agreement.
8. GOVERNING LAW AND JURISDICTION
The provisions of Clause 40 (Governing Law and Jurisdiction) of the MFA
shall be deemed to be incorporated, mutatis mutandis, in this
Agreement.
AS WITNESS the hands of the parties the day and year first above written.
-8-
SCHEDULE 1
THE BORROWERS
Name Company Number
Trans-Continental Leaf Tobacco Corporation Limited H.LIV/14
Standard Commercial Tobacco Company (UK) Limited 1411968
Standard Commercial Tobacco Co., Inc. 00-0000000
-9-
SCHEDULE 2
THE BANKS
ABN Amro Bank
Berenberg Bank
BHF Bank AG
Crestar Bank, Inc.
Commerzbank AG
Deutsche Bank AG in Hamburg
Dresdner Bank AG in Hamburg
First Union National Bank
KBC Bank NV
MeesPierson NV
Norddeutsche Landesbank Girozentrale
Rabobank International, London Branch
Standard Chartered Bank
Westdeutsche Landesbank Girozentrale
-10-
SIGNATURE PAGES
THE BORROWERS
TRANS-CONTINENTAL LEAF TOBACCO CORPORATION LIMITED
FL-9490 Vaduz
Liechtenstein
Facsimile No: + 41 75 236 5555
Attention: The Finance Director
By: Xxxxxx Xxxxxxxxx Xxxxx Xxxxxxx
STANDARD COMMERCIAL TOBACCO COMPANY (UK) LIMITED
Xxxxxxxx Xxxxx
Xxxxxxx Xxxx
Xxxxxxxxx
Xxxxxx XX0 0XX
Xxxxxxx
Facsimile No: + 44 1483 860176
Attention: The Finance Director
By: Xxxxxx Xxxxxxxxx Xxxxx Xxxxxxx
STANDARD COMMERCIAL TOBACCO CO., INC.
0000 Xxxxxx Xxxx, X X Xxx 000,
Xxxxxx XX 00000-0000, XXX
Facsimile No: + 1 919 237 1109
Attention: The Finance Director
By: Xxxxxx Xxxxxxxxx Xxxxx Xxxxxxx
SCC (AS GUARANTOR)
STANDARD COMMERCIAL CORPORATION
0000 Xxxxxx Xxxx, X X Xxx 000,
Xxxxxx XX 00000-0000, XXX
Facsimile No: + 1 919 237 1109
Attention: The Finance Director
By: Xxxxxx Xxxxxxxxx Xxxxx Xxxxxxx
-11-
THE LEAD BANK
DEUTSCHE BANK A.G. IN HAMBURG
Firmen und Institutionen
Konzernbetreuung
Xxxxxxxxxxxx 0
00000 Xxxxxxx, Xxxxxxx
Facsimile No: + 49 40 3701 4684
Attention: Xxxxxxx Xxxxxxxxx
By: Xx Xxxxxxxx X. Xxxxxxxxx
THE INTERNATIONAL SECURITY AGENT
MEESPIERSON N.V.
Camomile Court
00 Xxxxxxxx Xxxxxx
Xxxxxx XX0X 0XX
Facsimile No: + 000 000 0000
Attention: Xxxx Xxxxxx-Xxxxx
By: Xx Xxxx Xxxxxx-Xxxxx Xx Xxxxx Xx Xxxx
THE US SECURITY AGENT
FIRST UNION NATIONAL BANK
000 Xxxxx Xxxxx Xxxxxx, X-00
Xxxxxxxxx
XX 00000-0000
XXX
Facsimile No: 00 1 704 383 6647
Attention: G Xxxxxx Xxx, Jnr
By: Xxxxxx Xxx
THE STEERING COMMITTEE
DEUTSCHE BANK A.G. IN HAMBURG
Firmen und Institutionen
Konzernbetreuung
Xxxxxxxxxxxx 0
00000 Xxxxxxx, Xxxxxxx
Facsimile No: + 49 40 3701 4684
Attention: Xxxxxxx Xxxxxxxxx
By: Xx Xxxxxxxx X. Xxxxxxxxx
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MEESPIERSON N.V.
Xxxxxxxxxx 00
XX Xxx 000
0000 XX Xxxxxxxxx
Xxxxxxxxxxx
Facsimile No: + 31 10 401 6558
Attention: Jaap Van Beveren
By: Ms Anjavan Balen Xx Xxxx van Beveren
FIRST UNION NATIONAL BANK
000 Xxxxx Xxxxx Xxxxxx, X-00
Xxxxxxxxx
XX 00000-0000
XXX
Facsimile No: 00 1 704 383 6647
Attention: G Xxxxxx Xxx, Xx
By: Xxxxxx Xxx
NORDDEUTSCHE LANDESBANK GIROZENTRALE
Xxxxxxxxxxxxx 0
00000 Xxxxxxx
Xxxxxxx
Facsimile No: + 49 40 3765 5304
Attention: Xxx Xxxxxxxxxx
By: Xxx Xxxxxxxxxx Xxx Xxxxx
WESTDEUTSCHE LANDESBANK GIROZENTRALE
Xxxxxxxxxx 00
00000 Xxxxxxx
Xxxxxxx
Facsimile No: + 49 40 339 68265
Attention: Xxx Xxxxxx Xxxx, Credit Department
By: Mr W Xxxxxxx Mrs R Xxxx
-13-
THE BANKS
DEUTSCHE BANK A.G. IN HAMBURG
Firmen und Institutionen
Konzernbetreuung
Xxxxxxxxxxxx 0
00000 Xxxxxxx, Xxxxxxx
Facsimile No: + 49 40 3701 4684
Attention: Xxxxxxx Xxxxxxxxx
By: Xx Xxxxxxxx X. Xxxxxxxxx
MEESPIERSON N.V.
Xxxxxxxxxx 00
XX Xxx 000
0000 XX Xxxxxxxxx
Xxxxxxxxxxx
Facsimile No: + 31 10 401 6558
Attention: Jaap Van Beveren
By: Xx Xxxx xxx Xxxxx Xx Xxxx van Beveren
FIRST UNION NATIONAL BANK
000 Xxxxx Xxxxx Xxxxxx, X-00
Xxxxxxxxx
XX 00000-0000
XXX
Facsimile No: 001 704 383 6647
Attention: G Xxxxxx Xxx, Xx.
By: Xxxxxx Xxx
NORDDEUTSCHE LANDESBANK GIROZENTRALE
Xxxxxxxxxxxxx 0
00000 Xxxxxxx
Xxxxxxx
Facsimile No: + 49 40 3765 5304
Attention: Xxx Xxxxxxxxxx
By: Xxx Xxxxxxxxxx Xxx Xxxxx
-00-
XXXXXXXXXXXX XXXXXXXXXX GIROZENTRALE
Xxxxxxxxxx 00
00000 Xxxxxxx
Xxxxxxx
Facsimile No: + 49 40 339 68265
Attention: Xxx Xxxxxx Xxxx, Credit Department
By: Mr W Xxxxxxx Mrs R Xxxx
BERENBERG BANK
Neuer Xxxxxxxxxxxxx 00
00000 Xxxxxxx
Xxxxxxx
Facsimile No: + 49 40 354 248
Attention: Xx Xxxxx Xxxxxxxx
By: Mr K Xxxxxxxx M Grosse Siebenburgen
BHF-BANK AKTIENGESELLSCHAFT
Xxxxx Xxxx 00
00000 Xxxxxxx
Xxxxxxx
Facsimile No: + 49 40 3200 9203
Attention: Xx Xxxxxxxx Xxxxx
By: Xx Xxxxxxxx Xx Xxxxxxxx Xxxxx
COMMERZBANK X.X.
Xxxx 0-0
00000 Xxxxxxx
Xxxxxxx
Facsimile No: + 49 40 368 32130
Attention: Xx Xxxxxxx
By: Xx Xxxxx Xx Xxxxxxx
ABN AMRO BANK N.V.
TCF Europe,
Herengracht 595
XX Xxx 00 (AF 2432)
1000AB Amsterdam
The Netherlands
Tel: + 00 00 000 0000
Fax: + 31 20 383 3455
Attention: Xx. Xxxxxx Xxxxxxx
By: Xxxxxx Xxxxxxx Xxxxxx Znyoswegt
-00-
XXXXXXX XXXX
000 Xxxx Xxxx Xxxxxx
Xxxxxxxx, XX 00000
XXX
Tel: 000 000 000 0000
Fax: 000 000 000 0000
Attention: Mr. C Xxxx Key
By: Mr C Xxxx Key
KBC BANK N.V.
Global Trade Finance Group
Xxxxxxxx Xxxxx
00 Xxx Xxxxxx
Xxxxxx XX0X 0XX
Xxxxxxx
Tel: x00 000 000 0000
Fax: x00 000 000 0000
Attention: Mr. Xxxxxx Xxxxx
By: Mr Xxxxxx Xxxxx Mr Xxxxxxx Xxxxxx
STANDARD CHARTERED BANK
00 Xxxxxxxxxxx Xxxxxx
Xxxxxx XX0X XXX
Xxxxxxx
Tel: x00 000 000 0000
Fax: x00 000 000 0000
Attention: Xx. Xxxxxxxx Xxxxxxx-Xxxxxx
By: Xx. Xxxxxxxx Xxxxxxx-Xxxxxx Xx Xxx Xxxx
DRESDNER BANK AG IN HAMBURG
Corporate Customers
Betreuung Unternehmenskunden Hamburg 3
Xxxxxxxxxxxxx 00
00000 Xxxxxxx
Xxxxxxx
Tel: + 00 00 0000 0000
Fax: + 49 40 350 1 3278
Attention: Xx Xxxxx Xxxxxxx
By: Xx Xxx Xx Xxxxxxx
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RABOBANK INTERNATIONAL, LONDON BRANCH
Xxxxxx Xxxxx
Xxx Xxxxxxxxxx
Xxxxxx XX0X 0XX
Xxxxxxx
Tel: + 00 000 000 0000
Fax: + 44 207 809 3500
Attention: Xx Xxxxx Xxxxxxx
By: Xx Xxxxx Xxxxxxx Mr S Tyler
