FIRST AMENDMENT TO AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT
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EXHIBIT 10.2
FIRST AMENDMENT
TO AMENDED AND RESTATED
REVOLVING CREDIT AGREEMENT
This FIRST AMENDMENT TO AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT
is made and entered into as of March 6, 1998 (this "Amendment") by and among USA
WASTE SERVICES, INC., a Delaware corporation (the "Borrower"), THE GUARANTORS,
BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, a national banking
association ("BOA"), XXXXXX GUARANTY TRUST COMPANY OF NEW YORK, a New York state
banking association (in its individual capacity, "MGT"), and each of the other
financial institutions party to the Credit Agreement defined below (collectively
with BOA and MGT, the "Banks"), and MGT as administrative and documentation
agent (in such capacity, the "Administrative Agent"). Capitalized terms used
herein without definition shall have the meanings assigned to such terms in the
Credit Agreement.
WHEREAS, the Borrower, the Guarantors, the Banks, and the Agents have
entered into that certain Amended and Restated Revolving Credit Agreement, dated
as of August 7, 1997 (as amended and in effect from time to time, the "Credit
Agreement"), pursuant to which the Banks have extended credit to the Borrower on
the terms set forth therein;
WHEREAS, the Banks, the Agents, the Guarantors, and the Borrower have
agreed to amend the Credit Agreement as hereinafter set forth;
NOW, THEREFORE, in consideration of the foregoing, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
Section 1. AMENDMENT TO Section 9.2. Section 9.2 of the Credit
Agreement is hereby deleted in its entirety and the following substituted
therefor:
Section 9.2. DEBT TO TOTAL CAPITALIZATION. The ratio of Funded
Debt to Consolidated Total Capitalization shall not at any time exceed
(a) 0.62:1 from March 6, 1998 through December 31, 1998 or (b) 0.58:1
thereafter.
Section 2. NO EVENT OF DEFAULT. The Borrower represents and warrants to
the Agents and the Banks that no Default or Event of Default has occurred and is
continuing.
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Section 3. EFFECTIVENESS. This Amendment shall become effective upon
its execution and delivery by the Borrower, the Guarantors, and the Majority
Banks (the "Effective Date").
Section 4. RATIFICATION, ETC. Except as expressly amended hereby, the
Credit Agreement, the other Loan Documents and all documents, instruments and
agreements related thereto are hereby ratified and confirmed in all respects and
shall continue in full force and effect. This Amendment and the Credit Agreement
shall hereafter be read and construed together as a single document, and all
references in the Credit Agreement, any other Loan Document or any agreement or
instrument related to the Credit Agreement shall hereafter refer to the Credit
Agreement as amended by this Amendment.
Section 5. COUNTERPARTS. This Amendment may be executed in any number
of counterparts, which together shall constitute one instrument.
Section 6. GOVERNING LAW. THIS AMENDMENT SHALL BE A CONTRACT UNDER THE
LAWS OF THE STATE OF NEW YORK, SHALL FOR ALL PURPOSES BE CONSTRUED IN ACCORDANCE
WITH AND GOVERNED BY THE INTERNAL LAWS OF SAID JURISDICTION, WITHOUT REFERENCE
TO CONFLICTS OF LAW, AND IS INTENDED TO TAKE EFFECT AS A SEALED INSTRUMENT.
[Signature Pages Follow]
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IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
an instrument under seal to be effective as of the date first above written.
THE BORROWER AND GUARANTORS:
USA WASTE SERVICES, INC.
By: /s/ XXXXXX X. XXXXX
-------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Vice President & Treasurer
SANIFILL, INC.
By: /s/ XXXXXX X. XXXXX
-------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Vice President & Treasurer
UNITED WASTE SYSTEMS, INC.
By: /s/ XXXXXX X. XXXXX
-------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Vice President & Treasurer
THE BANKS AND AGENTS:
XXXXXX GUARANTY TRUST COMPANY
OF NEW YORK,
individually and as Administrative Agent
By: /s/ XXXXXXXXXXX X. XXXXXXXX
-------------------------------------
Xxxxxxxxxxx X. Xxxxxxxx
Vice President
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BANK OF AMERICA NATIONAL TRUST
AND SAVINGS ASSOCIATION
By: /s/ XXXXXX X. XXXXXXXXXX
-------------------------------------
Name: Xxxxxx X. Xxxxxxxxxx
Title: Managing Director
ABU DHABI INTERNATIONAL BANK
By: /s/ XXXX X. XXXXX
-------------------------------------
Name: Xxxx X. Xxxxx
Title: Senior Vice President
By: /s/ XXXXXXX X. XXXXX
-------------------------------------
Name: Xxxxxxx X. Xxxxx
Title: Executive Vice President
ABN AMRO BANK, N.A.
By: /s/ XXXXXX X. XXXX
-------------------------------------
Name: Xxxxxx X. Xxxx
Title: Group Vice President
By: /s/ XXXX X. XXXXXXXXXXXXX
-------------------------------------
Name: Xxxx X. Xxxxxxxxxxxxx
Title: Assistant Vice President
BANCA COMMERCIALE ITALIANA, LOS
ANGELES FOREIGN BRANCH
By: /s/ XXXXXXX X. XXXXXXXX
-------------------------------------
Name: Xxxxxxx X. Xxxxxxxx
Title: Vice President
By: /s/ X. XXXXXXXX
-------------------------------------
Name: X. Xxxxxxxx
Title: Vice President & Manager
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BANK AUSTRIA AKTIENGESELLSCHAFT
By: /s/ XXXXXXX X. XXXX
-------------------------------------
Name: Xxxxxxx X. Xxxx
Title: Vice President
By: /s/ X.X. XXXXX
-------------------------------------
Name: X.X. Xxxxx
Title: Vice President
BANKBOSTON, N.A.
By: /s/ XXXXXX X. XXXXXXXX
-------------------------------------
Name: Xxxxxx X. Xxxxxxxx
Title: Vice President
BANK OF MONTREAL
By: /s/ XXXX X. XXXXXXXX
-------------------------------------
Name: Xxxx X. Xxxxxxxx
Title: Director
BANQUE NATIONALE DE PARIS
By: /s/ XXXX STRYOCK
-------------------------------------
Name: Xxxx Stryock
Title: Vice President
THE BANK OF NEW YORK
By: /s/ XXXX X. XXXXXX, XX.
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Name: Xxxx X. Xxxxxx, Xx.
Title: Vice President
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XXX XXXX XX XXXX XXXXXX
By: /s/ M.D. XXXXX
-------------------------------------
Name: M.D. Xxxxx
Title: Agent Operations
THE BANK OF TOKYO-MITSUBISHI, LTD.
By: /s/ X. XXXXXX
-------------------------------------
Name: X. Xxxxxx
Title: Vice President & Manager
BANK ONE, TEXAS, N.A.
By: /s/ XXXX XXXXX
-------------------------------------
Name: Xxxx Xxxxx
Title: Vice President
BANQUE PARIBAS
By: /s/ XXXXX XXXXXXXX
-------------------------------------
Name: Xxxxx Xxxxxxxx
Title: Vice President
By: /s/ XXXXX X. XXXXX
-------------------------------------
Name: Xxxxx X. Xxxxx
Title: Vice President
COMERICA BANK
By: /s/ XXXXXXXX X. XXXXXXXXX, III
-------------------------------------
Name: Xxxxxxxx X. Xxxxxxxxx, III
Title: Vice President
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CIBC INC.
By: /s/ XXXXXXX XXXXX
-------------------------------------
Name: Xxxxxxx Xxxxx
Title: Managing Director
CREDIT LYONNAIS NEW YORK BRANCH
By: /s/ XXXXXX XXXXXXXXX
-------------------------------------
Name: Xxxxxx Xxxxxxxxx
Title: Senior Vice President
THE DAI-ICHI KANGYO BANK, LTD.
By: /s/ XXXXXXX XXXXXXXX
-------------------------------------
Name: Xxxxxxx Xxxxxxxx
Title: Vice President
DEUTSCHE BANK AG, NEW YORK
AND/OR CAYMAN ISLANDS BRANCHES
By: /s/ XXXX X. XXXXXXXX
-------------------------------------
Name: Xxxx X. Xxxxxxxx
Title: Vice President
By: /s/ XXXXX X. XXXXXXX
-------------------------------------
Name: Xxxxx X. Xxxxxxx
Title: Vice President
DG BANK
By: /s/ XXXX X. XXXXXXXX
-------------------------------------
Name: Xxxx X. Xxxxxxxx
Title: Vice President
By: /s/ XXXXXX X. XXXXXXX
-------------------------------------
Name: Xxxxxx X. Xxxxxxx
Title: Assistant Vice President
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THE FIRST NATIONAL BANK OF MARYLAND
By: /s/ XXXXXX X. XXXX
-------------------------------------
Name: Xxxxxx X. Xxxx
Title: Vice President
FLEET BANK, N.A.
By: /s/ XXXXXXXXXXX X. XXXXXXX
-------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxxx
Title: Vice President
THE FUJI BANK, LIMITED, HOUSTON
AGENCY
By: /s/ XXXX XXXXX
-------------------------------------
Name: Xxxx Xxxxx
Title: Vice President & Manager
HIBERNIA NATIONAL BANK
By: /s/ XXXX X. XXXXXXXXXX
-------------------------------------
Name: Xxxx X. Xxxxxxxxxx
Title: Vice President
THE INDUSTRIAL BANK OF JAPAN
TRUST COMPANY
By: /s/ XXXXXXXXX XXXXXXXX
-------------------------------------
Name: Xxxxxxxxx Xxxxxxxx
Title: Executive Vice President
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KREDIETBANK, N.V.
By: /s/ XXXXXX XXXXXXXX
-------------------------------------
Name: Xxxxxx Xxxxxxxx
Title: Vice President
By: /s/ XXX X. XXXXX
-------------------------------------
Name: Xxx X. Xxxxx
Title: Vice President
THE MITSUBISHI TRUST AND BANKING
CORPORATION
By: /s/ XXXXXXX XXXXXX
-------------------------------------
Name: Xxxxxxx Xxxxxx
Title: Deputy General Manager
PNC BANK, NATIONAL ASSOCIATION
By: /s/ XXXXXX X. XXXXXXXXX
-------------------------------------
Name: Xxxxxx X. Xxxxxxxxx
Title: Vice President
ROYAL BANK OF CANADA
By: /s/ XXXXXX XXXXXXXXX
-------------------------------------
Name: Xxxxxx XxxXxxxxx
Title: Manager
THE SANWA BANK LIMITED
By: /s/ XXXXXXX X. XXXXXXX
-------------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Vice President
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THE SUMITOMO BANK OF CALIFORNIA
By: /s/ XXXXX XXX
-------------------------------------
Name: Xxxxx Xxx
Title: Vice President
THE SUMITOMO BANK, LIMITED
By: /s/ XXXXXXX X. XXXXXX III
-------------------------------------
Name: Xxxxxxx X. XxXxxx III
Title: Vice President and Manager
THE SUMITOMO TRUST & BANKING
CO., LTD., LOS ANGELES AGENCY
By: /s/ XXXXXXX XXXX
-------------------------------------
Name: Xxxxxxx Xxxx
Title: Manager & Vice President
SUNTRUST BANK, ATLANTA
By: XXXX X. XXXXXX, XX.
-------------------------------------
Name: Xxxx X. Xxxxxx, Xx.
Title: Vice President
By: /s/ XXXXXX X. XXXXX
-------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Corporate Banking Officer
CHASE BANK OF TEXAS, N.A.
By: /s/ XXXXXXX ONDEUCH
-------------------------------------
Name: Xxxxxxx Ondeuch
Title: Vice President
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TORONTO DOMINION (TEXAS), INC.
By: /s/ XXXX XXXXXXX
-------------------------------------
Name: Xxxx Xxxxxxx
Title: Vice President
WACHOVIA BANK, N.A.
By: /s/ XXXXXX X. XXXXX
-------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Senior Vice President
XXXXX FARGO BANK (TEXAS),
NATIONAL ASSOCIATION
By: /s/ XXXXX X. XXXXX
-------------------------------------
Name: Xxxxx X. Xxxxx
Title: Relationship Manager
WESTDEUTSCHE LANDESBANK
GIROZENTRALE, NEW YORK BRANCH
By: /s/ XXXXXXX X. XXXXXX
-------------------------------------
Name: Xxxxxxx X. Xxxxxx
Title: Vice President
By: /s/ XXXXX VENEAM
-------------------------------------
Name: Xxxxx Veneam
Title: Analyst
