SECOND AMENDMENT AND CONSENT, dated as of July 25, 1997 (this "Amendment"), to the Amended and Restated Credit and Guarantee Agreement, dated ---------- as of April 26, 1996 (as amended pursuant to the First Amendment thereto, dated as of February 7,...
Exhibit 10.38
EXECUTION COPY
SECOND AMENDMENT AND CONSENT, dated as of July 25, 1997 (this
"Amendment"), to the Amended and Restated Credit and Guarantee Agreement, dated
----------
as of April 26, 1996 (as amended pursuant to the First Amendment thereto, dated
as of February 7, 1997 and this Amendment and as the same may be further
amended, supplemented or otherwise modified from time to time, the "Credit
------
Agreement"), among SDW HOLDINGS CORPORATION, a Delaware corporation
---------
("Holdings"), S.D. XXXXXX COMPANY (as successor by merger to SDW Acquisition
--------
Corporation), a Pennsylvania corporation (the "Borrower"), the several banks,
--------
financial institutions and other entities from time to time parties thereto
(collectively, the "Lenders"; individually, a "Lender"), and THE CHASE MANHATTAN
------- ------
BANK (formerly known as Chemical Bank), a New York banking corporation
("Chase"), as agent for the Lenders thereunder (in such capacity, the "Agent").
----- -----
W I T N E S S E T H :
- - - - - - - - - -
WHEREAS, the Borrower has requested the Lenders to amend the Credit
Agreement in the manner provided for herein;
WHEREAS, the Borrower has also requested that the Lenders consent to
the consummation of a Sale/Leaseback Transaction with General Electric Capital
Corporation ("GE Capital") with respect to one of the papermachines located at
----------
the Borrower's Somerset Mill;
WHEREAS, in connection with such Sale/Leaseback Transaction, the
Borrower has further requested that (a) only 66-2/3% of the Net Proceeds of such
Sale/Leaseback Transaction be required to be used to prepay Term Loans and (b)
it be permitted to use the remaining Net Proceeds of such Sale/Leaseback
Transaction to pay dividends to Holdings to be used to redeem the Holdings
Preferred Stock (and that Holdings be permitted to redeem the Holdings Preferred
Stock) and/or to purchase Senior Subordinated Notes to the extent required by
the Senior Subordinated Note Indenture;
WHEREAS, Sappi Limited ("Sappi") previously held approximately 75% of
-----
the common equity of Holdings (on a fully diluted basis), and, in connection
with the recent acquisition by an indirect wholly owned subsidiary of Sappi of
an additional 22% of the common equity in Holdings (the "DLJ/UBSC Acquisition"),
--------------------
Sappi has agreed to use its reasonable effort to acquire the remaining common
equity of Holdings;
WHEREAS, as part of the financings of the DLJ/UBSC Acquisition, the
common equity purchased by the subsidiary of Sappi was subsequently sold to an
independent special purpose British Virgin Islands company ("BVI Company")
-----------
subject to a call option and irrevocable proxy in favor of Sappi;
WHEREAS, the acquisition of the remaining common equity interests in
Holdings not currently held directly or indirectly by Sappi or BVI Company may
be effected through a merger ("Merger") involving Holdings as a result of which
------
such equity interests (including outstanding warrants to acquire common equity
of Holdings) are converted into the right to receive cash;
2
WHEREAS, it is anticipated that any payments required to be made by
Holdings in connection with the Merger (including payments to be made in respect
of Holdings common stock, payments required upon exercise of warrants to
purchase Holdings common stock and payments required in respect of the exercise
of appraisal rights under applicable law) would be funded directly or indirectly
by Sappi or BVI Company through equity investments in Holdings (or in any
acquisition vehicle merged into Holdings) or through contributions to the
capital of Holdings or through the issuance of preferred stock of Holdings or
through similar equity based funding ("Permitted Financing"); and
-------------------
WHEREAS, Holdings wishes to facilitate the Merger and has requested
the Lenders consent to the Merger:
NOW, THEREFORE, in consideration of the premises and the mutual
agreements contained herein, the parties hereto agree as follows:
SECTION 1. DEFINITIONS
1.1 Defined Terms. Unless otherwise defined herein, terms defined
-------------
in the Credit Agreement and used herein (and in the recitals hereto) shall have
the meanings given such terms in the Credit Agreement.
SECTION 2. AMENDMENTS TO CREDIT AGREEMENT
2.1 Amendment of Subsection 5.1(a)(i) of the Credit Agreement.
---------------------------------------------------------
Subsection 5.1 of the Credit Agreement is hereby amended by deleting the final
sentence of paragraph (a)(i) of such subsection and substituting therefor the
following new sentence:
"Except as provided in paragraph (ii) below, all optional prepayments of
the Term Loans shall, first be allocated between the Tranche A Term Loans
and the Tranche B Term Loans pro rata (except that, at the option of the
Borrower by written notice to such effect to the Agent, the Borrower may
first allocate any such optional prepayment between the Tranche A Term
Loans and the Tranche B Term Loans in such amounts as may be necessary to
pay in whole or in part the scheduled installments of principal, if any, of
the Tranche A Term Loans and/or the Tranche B Term Loans due within six
months of the date of such optional prepayment and the remaining amount of
such optional prepayment shall then be allocated between the Tranche A Term
Loans and the Tranche B Term Loans pro rata), second, be applied against
the scheduled installments of principal, if any, of the Tranche A Term
Loans due within six months of the date of such prepayment and/or against
the scheduled installments of principal, if any, of the Tranche B Term
Loans due within six months of the date of such prepayment, as the case may
be, and, third, be applied to the remaining installments of the Tranche A
Term Loans and/or the Tranche B Term Loans, as the case may be, pro rata."
2.2 Amendment of Subsection 9.2(g) of the Credit Agreement.
------------------------------------------------------
Subsection 9.2 of the Credit Agreement is hereby amended by deleting the
reference to the amount "$100,000,000" in paragraph (g) of such subsection and
substituting in lieu thereof a reference to the amount "$50,000,000".
3
SECTION 3. CONSENT TO SALE/LEASEBACK TRANSACTION AND MERGER
3.1 Sale/Leaseback Transaction with GE Capital. Each of the
------------------------------------------
undersigned Lenders hereby (a) consents to the consummation by the Borrower of
the Sale/Leaseback Transaction with GE Capital substantially on the terms and
conditions described in Exhibit A hereto ("GE Capital Sale/Leaseback
-------------------------
Transaction") and (b) agrees that the consummation of such Sale/Leaseback
Transaction shall not violate subsection 9.6, 9.12 or 9.14 of the Credit
Agreement, provided that (i) upon consummation of the GE Capital Sale/Leaseback
--------
Transaction, the Borrower acknowledges and agrees that it shall not thereafter
be permitted to consummate any Sale/Leaseback Transaction pursuant to clause (b)
of subsection 9.12, (ii) 66-2/3% of the Net Proceeds of the GE Capital
Sale/Leaseback Transaction shall concurrently be applied to prepay the Term
Loans in accordance with subsection 5.1 of the Credit Agreement and (iii) the
final documentation (the "Sale/Leaseback Documentation") with respect to the GE
----------------------------
Capital Sale/Leaseback Transaction shall be acceptable to the Agent. The
Borrower and the Lenders hereby further agree that an event of default or
termination event under the Sale/Leaseback Documentation shall constitute an
Event of Default under the Credit Agreement.
3.2 Mandatory Prepayment Relating to GE Capital Sale/Leaseback
----------------------------------------------------------
Transaction. Each of the undersigned Lenders hereby agrees that (a) only 66-
-----------
2/3% of the Net Proceeds of the GE Capital Sale/Leaseback Transaction shall be
applied to prepay the Term Loans pursuant to such subsection and that the
remaining Net Proceeds may be retained by the Borrower and (b) the foregoing
shall not violate subsection 5.1(c) of the Credit Agreement.
3.3 Special Dividend Payments to Holdings. Each of the undersigned
-------------------------------------
Lenders hereby (a) consents to the payment from time to time by the Borrower of
dividends to Holdings on or prior to September 30, 1998 to be used to redeem all
or part of the Holdings Preferred Stock from time to time (the "Redemption") so
----------
long as (i) the GE Capital Sale/Leaseback Transaction shall have been
consummated prior to the payment of any dividend, (ii) the aggregate amount of
such dividends, together with the aggregate purchase price of Senior
Subordinated Notes purchased pursuant to subsection 3.4 hereof, does not exceed
an amount equal to 33-1/3% of the Net Proceeds of the GE Capital Sale/Leaseback
Transaction, (iii) no Default or Event of Default shall have then occurred and
be continuing or would result therefrom (after giving effect to this Amendment)
and (iv) the payment of such dividend does not violate any Contractual
Obligation of the Borrower or any of its Subsidiaries and (b) agrees that (i)
such dividends shall not violate subsection 9.7 of the Credit Agreement and
shall be in addition to any other dividends permitted thereunder and (ii) the
Redemption shall not violate subsection 9A.1, 9A.3 or 9A.5 of the Credit
Agreement. Each of the undersigned Lenders also hereby (a) consents to the
payment from time to time by the Borrower of dividends to Holdings on or prior
to September 30, 1998 (in addition to dividends permitted under the first
sentence of this subsection) also to be used to finance the Redemption out of
the Borrower's Portion of Excess Cash Flow for the previous fiscal year, so long
as (i) the amount of the Borrower's Portion of Excess Cash Flow for the 1996 and
1997 fiscal years which shall be available to make dividend payments pursuant to
subsection 9.7(f) of the Credit Agreement and to make optional prepayments
applied in accordance with the first sentence of subsection 5.1(a)(ii) of the
Credit Agreement shall be reduced by the amount of any dividends paid pursuant
to this sentence, (ii) no Default or Event of Default shall have then occurred
and be continuing or would result therefrom (after giving effect to
4
this Amendment) and (iii) the payment of any such dividend does not violate any
Contractual Obligation of the Borrower or any of its Subsidiaries and (b) the
Redemption shall not violate subsection 9A.5 of the Credit Agreement.
3.4 Purchase of Senior Subordinated Notes. Each of the undersigned
-------------------------------------
Lenders hereby (a) consents to the purchase of Senior Subordinated Notes by the
Borrower pursuant to Section 4.10 of the Senior Subordinated Note Indenture with
any Excess Proceeds (as defined in Section 4.10 of the Senior Subordinated Note
Indenture) resulting from the GE Capital Sale/Leaseback Transaction so long as
(i) the GE Capital Sale/Leaseback Transaction shall have been consummated prior
to any such purchase, (ii) the aggregate purchase price of Senior Subordinated
Notes so purchased, together with the aggregate amount of dividends paid
pursuant to subsection 3.3 hereof, does not exceed an amount equal to 33-1/3% of
the Net Proceeds of the GE Capital Sale/Leaseback Transaction, (iii) no Default
or Event of Default shall have then occurred and be continuing or would result
therefrom (after giving effect to this Amendment) and (iv) such purchase does
not violate any Contractual Obligation of the Borrower or any of its
Subsidiaries and (b) agrees that such purchase shall not violate subsection
5.1(c) or 9.10 of the Credit Agreement.
3.5 Merger. Each of the undersigned Lenders consents to the
------
consummation of the Merger by Holdings and agrees that the Merger will not
violate Section 9A of the Credit Agreement, provided that (a) Holdings is the
--------
surviving entity in any such Merger, (b) payments required to be made by
Holdings in connection with such Merger are to be provided through Permitted
Financing and (c) no Default or Event of Default would result therefrom (after
giving effect to this Amendment).
SECTION 4. MISCELLANEOUS
4.1 Limited Effect. Except as expressly amended, modified and
--------------
supplemented hereby, the Credit Agreement is, and shall remain, in full force
and effect in accordance with its terms, provided that the transactions
--------
contemplated by Section 3 of this Amendment shall not violate or be deemed to
violate the Credit Agreement.
4.2 Effectiveness. This Amendment shall become effective as of the
-------------
date hereof (the "Second Amendment Date") upon receipt by the Agent of a
---------------------
counterpart hereof duly executed by Holdings, the Borrower and the Required
Lenders.
4.3 Representations and Warranties. On and as of the date hereof
------------------------------
and after giving effect to this Amendment, the Borrower hereby confirms,
reaffirms and restates the representations and warranties set forth in Section 6
of the Credit Agreement mutatis mutandis, except to the extent that such
------- --------
representations and warranties expressly relate to a specific earlier date in
which case the Borrower hereby confirms, reaffirms and restates such
representations and warranties as of such earlier date.
5
4.4 Counterparts. This Amendment may be executed by one or more of
------------
the parties hereto on any number of separate counterparts, and all of said
counterparts taken together shall be deemed to constitute one and the same
instrument. A set of the copies of this Amendment signed by all the parties
shall be lodged with the Borrower and the Agent. This Amendment may be
delivered by facsimile transmission of the relevant signature pages hereof.
4.5 GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS
-------------
OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE
CONFLICTS OF LAW PRINCIPLES THEREOF.
4.6 Releases. The Lenders hereby authorize and direct the
--------
Administrative Agent to execute and deliver such releases or other documents and
to take such other actions as may be reasonably necessary or desirable for the
release of the Liens created on the Collateral which is sold pursuant to the GE
Capital Sale/Leaseback Transaction.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
be duly executed and delivered by their proper and duly authorized officers as
of the day and year first above written.
SDW HOLDINGS CORPORATION
By: [SIGNATURE ILLEGIBLE]
-------------------------------------
Title: Vice President
S.D. XXXXXX COMPANY
By: [SIGNATURE ILLEGIBLE]
-------------------------------------
Title:
THE CHASE MANHATTAN BANK, as Agent and as
a Lender
By:
-------------------------------------
Title:
5
4.4 Counterparts. This Amendment may be executed by one or more of
------------
the parties hereto on any number of separate counterparts, and all of said
counterparts taken together shall be deemed to constitute one and the same
instrument. A set of the copies of this Amendment signed by all the parties
shall be lodged with the Borrower and the Agent. This Amendment may be
delivered by facsimile transmission of the relevant signature pages hereof.
4.5 GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS
-------------
OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE
CONFLICTS OF LAW PRINCIPLES THEREOF.
4.6 Releases. The Lenders hereby authorize and direct the
--------
Administrative Agent to execute and deliver such releases or other documents and
to take such other actions as may be reasonably necessary or desirable for the
release of the Liens created on the Collateral which is sold pursuant to the GE
Capital Sale/Leaseback Transaction.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
be duly executed and delivered by their proper and duly authorized officers as
of the day and year first above written.
SDW HOLDINGS CORPORATION
By:
-------------------------------------
Title:
S.D. XXXXXX COMPANY
By:
-------------------------------------
Title:
THE CHASE MANHATTAN BANK, as Agent and as
a Lender
By: /s/ Xxxxxx Xxxxx
-------------------------------------
Title: Vice President
6
The Lenders:
-----------
GENERAL ELECTRIC CAPITAL CORPORATION
By: /s/ Xxxxx Xxxxxxxx
-------------------------------------
Title: Duly Authorized Signatory
BANK OF MONTREAL
By:
-------------------------------------
Title:
BHF-BANK AKTIENGESELLSCHAFT
By:
-------------------------------------
Title:
CITICORP USA, INC.
By:
-------------------------------------
Title:
DRESDNER BANK AG, NEW YORK AND GRAND CAYMAN
BRANCHES
By:
-------------------------------------
Title:
By:
-------------------------------------
Title:
MARINE MIDLAND BANK PLC, NEW YORK BRANCH
By:
-------------------------------------
Title:
6
The Lenders:
-----------
GENERAL ELECTRIC CAPITAL CORPORATION
By:
-------------------------------------
Title:
BANK OF MONTREAL
By: /s/ Xxxxx Xxxxxxxxx
-------------------------------------
Title: Director
BHF-BANK AKTIENGESELLSCHAFT
By:
-------------------------------------
Title:
CITICORP USA, INC.
By:
-------------------------------------
Title:
DRESDNER BANK AG, NEW YORK AND GRAND CAYMAN
BRANCHES
By:
-------------------------------------
Title:
By:
-------------------------------------
Title:
MARINE MIDLAND BANK PLC, NEW YORK BRANCH
By:
-------------------------------------
Title:
The Lenders:
-----------
GENERAL ELECTRIC CAPITAL CORPORATION
By:
-------------------------------------
Title:
BANK OF MONTREAL
By:
-------------------------------------
Title:
BHF-BANK AKTIENGESELLSCHAFT
By: [SIGNATURES ILLEGIBLE]
-------------------------------------
Title: V.P. A.V.P.
CITICORP USA, INC.
By:
-------------------------------------
Title:
DRESDNER BANK AG, NEW YORK AND GRAND CAYMAN
BRANCHES
By:
-------------------------------------
Title:
By:
-------------------------------------
Title:
MARINE MIDLAND BANK PLC, NEW YORK BRANCH
By:
-------------------------------------
Title:
6
The Lenders:
-----------
GENERAL ELECTRIC CAPITAL CORPORATION
By:
-------------------------------------
Title:
BANK OF MONTREAL
By:
-------------------------------------
Title:
BHF-BANK AKTIENGESELLSCHAFT
By:
-------------------------------------
Title:
CITICORP USA, INC.
By: [SIGNATURE ILLEGIBLE]
-------------------------------------
Title: Attorney-in-Fact
DRESDNER BANK AG, NEW YORK AND GRAND CAYMAN
BRANCHES
By:
-------------------------------------
Title:
By:
-------------------------------------
Title:
MARINE MIDLAND BANK PLC, NEW YORK BRANCH
By:
-------------------------------------
Title:
6
The Lenders:
-----------
GENERAL ELECTRIC CAPITAL CORPORATION
By:
-------------------------------------
Title:
BANK OF MONTREAL
By:
-------------------------------------
Title:
BHF-BANK AKTIENGESELLSCHAFT
By:
-------------------------------------
Title:
CITICORP USA, INC.
By:
-------------------------------------
Title:
DRESDNER BANK AG, NEW YORK AND GRAND CAYMAN
BRANCHES
By: /s/ Xxxxxxxxxxx X. Xxxxxxx
-------------------------------------
Title: Assistant Treasurer
By: /s/ Xxxx X. Xxxxxxx
-------------------------------------
Title: Assistant Vice President
MARINE MIDLAND BANK PLC, NEW YORK BRANCH
By:
-------------------------------------
Title:
7
SOCIETE GENERALE
By:
-------------------------------------
Title:
THE BANK OF NEW YORK
By: [SIGNATURE ILLEGIBLE]
-------------------------------------
Title: Assistant Vice President
THE BANK OF NOVA SCOTIA
By:
-------------------------------------
Title:
THE CIT GROUP/BUSINESS CREDIT, INC.
By:
-------------------------------------
Title:
THE INDUSTRIAL BANK OF JAPAN, LIMITED
By:
-------------------------------------
Title:
THE LONG-TERM CREDIT BANK OF JAPAN, LIMITED, NEW
YORK BRANCH
By:
-------------------------------------
Title:
THE MITSUBISHI TRUST AND BANKING CORPORATION
By:
-------------------------------------
Title:
7
SOCIETE GENERALE
By:
---------------------------------
Title:
THE BANK OF NEW YORK
By:
---------------------------------
Title:
THE BANK OF NOVA SCOTIA
By: [SIGNATURE ILLEGIBLE]
---------------------------------
Title: Vice President
THE CIT GROUP/BUSINESS CREDIT, INC.
By:
---------------------------------
Title:
THE INDUSTRIAL BANK OF JAPAN, LIMITED
By:
---------------------------------
Title:
THE LONG-TERM CREDIT BANK OF JAPAN,
LIMITED, NEW YORK BRANCH
By:
---------------------------------
Title:
THE MITSUBISHI TRUST AND BANKING
CORPORATION
By:
---------------------------------
Title:
7
SOCIETE GENERALE
By:
---------------------------------
Title:
THE BANK OF NEW YORK
By:
---------------------------------
Title:
THE BANK OF NOVA SCOTIA
By:
---------------------------------
Title:
THE CIT GROUP/BUSINESS CREDIT, INC.
By: [SIGNATURE ILLEGIBLE]
---------------------------------
Title: Assistant Secretary
THE INDUSTRIAL BANK OF JAPAN, LIMITED
By:
---------------------------------
Title:
THE LONG-TERM CREDIT BANK OF JAPAN,
LIMITED, NEW YORK BRANCH
By:
---------------------------------
Title:
THE MITSUBISHI TRUST AND BANKING
CORPORATION
By:
---------------------------------
Title:
7
SOCIETE GENERALE
By:
---------------------------------
Title:
THE BANK OF NEW YORK
By:
---------------------------------
Title:
THE BANK OF NOVA SCOTIA
By:
---------------------------------
Title:
THE CIT GROUP/BUSINESS CREDIT, INC.
By:
---------------------------------
Title:
THE INDUSTRIAL BANK OF JAPAN, LIMITED
By: /s/ Xxx Xxxxxx
---------------------------------
Title: Joint General Manager
THE LONG-TERM CREDIT BANK OF JAPAN,
LIMITED, NEW YORK BRANCH
By:
---------------------------------
Title:
THE MITSUBISHI TRUST AND BANKING
CORPORATION
By:
---------------------------------
Title:
7
SOCIETE GENERALE
By:
---------------------------------
Title:
THE BANK OF NEW YORK
By:
---------------------------------
Title:
THE BANK OF NOVA SCOTIA
By:
---------------------------------
Title:
THE CIT GROUP/BUSINESS CREDIT, INC.
By:
---------------------------------
Title:
THE INDUSTRIAL BANK OF JAPAN, LIMITED
By:
---------------------------------
Title:
THE LONG-TERM CREDIT BANK OF JAPAN,
LIMITED, NEW YORK BRANCH
By: [SIGNATURE ILLEGIBLE]
---------------------------------
Title: Deputy General Manager
THE MITSUBISHI TRUST AND BANKING
CORPORATION
By:
---------------------------------
Title:
7
SOCIETE GENERALE
By:
---------------------------------
Title:
THE BANK OF NEW YORK
By:
---------------------------------
Title:
THE BANK OF NOVA SCOTIA
By:
---------------------------------
Title:
THE CIT GROUP/BUSINESS CREDIT, INC.
By:
---------------------------------
Title:
THE INDUSTRIAL BANK OF JAPAN, LIMITED
By:
---------------------------------
Title:
THE LONG-TERM CREDIT BANK OF JAPAN,
LIMITED, NEW YORK BRANCH
By:
---------------------------------
Title:
THE MITSUBISHI TRUST AND BANKING
CORPORATION
By: /s/ X. Xxxxxxx
---------------------------------
Title: Senior Vice President
8
XXXXXXX XXXXX SENIOR FLOATING RATE
FUND, INC.
By: /s/ Xxxxxx Xxxxxxxx
---------------------------------
Title: Xxxxxx Xxxxxxxx, CFA
Authorized Signatory
SENIOR HIGH INCOME PORTFOLIO, INC.
By: /s/ Xxxxxx Xxxxxxxx
---------------------------------
Title: Xxxxxx Xxxxxxxx, CFA
Authorized Signatory
XXXXXXX XXXXX PRIME RATE PORTFOLIO
By: Xxxxxxx Xxxxx Asset Management, L.P.,
as Investment Advisor
By: /s/ Xxxxxx Xxxxxxxx
-----------------------------
Title: Xxxxxx Xxxxxxxx, CFA
Authorized Signatory
XXX XXXXXX AMERICAN CAPITAL PRIME RATE
INCOME TRUST
By:
---------------------------------
Title:
SENIOR DEBT PORTFOLIO
By: Boston Management and Research, as
Investment Advisor
By:
----------------------------
Title:
ORIX USA CORPORATION
By:
---------------------------------
Title:
8
XXXXXXX XXXXX SENIOR FLOATING RATE
FUND, INC.
By:
---------------------------------
Title:
SENIOR HIGH INCOME PORTFOLIO, INC.
By:
---------------------------------
Title:
XXXXXXX XXXXX PRIME RATE PORTFOLIO
By: Xxxxxxx Xxxxx Asset Management, L.P.,
as Investment Advisor
By:
-----------------------------
Title:
XXX XXXXXX AMERICAN CAPITAL PRIME RATE
INCOME TRUST
By: /s/ Xxxxxxx X. Xxxxxxx
---------------------------------
Title: Xxxxxxx X. Xxxxxxx
Xx. Vice Pres.- Portfolio Mgr.
SENIOR DEBT PORTFOLIO
By: Boston Management and Research, as
Investment Advisor
By:
----------------------------
Title:
ORIX USA CORPORATION
By:
---------------------------------
Title:
8
XXXXXXX XXXXX SENIOR FLOATING RATE
FUND, INC.
By:
---------------------------------
Title:
SENIOR HIGH INCOME PORTFOLIO, INC.
By:
---------------------------------
Title:
XXXXXXX XXXXX PRIME RATE PORTFOLIO
By: Xxxxxxx Xxxxx Asset Management, L.P.,
as Investment Advisor
By:
-----------------------------
Title:
XXX XXXXXX AMERICAN CAPITAL PRIME RATE
INCOME TRUST
By:
---------------------------------
Title:
SENIOR DEBT PORTFOLIO
By: Boston Management and Research, as
Investment Advisor
By: /s/ Payson X. Xxxxxxxxx
----------------------------
Title: Payson X. Xxxxxxxxx
Vice President
ORIX USA CORPORATION
By:
---------------------------------
Title:
8
XXXXXXX XXXXX SENIOR FLOATING RATE
FUND, INC.
By:
---------------------------------
Title:
SENIOR HIGH INCOME PORTFOLIO, INC.
By:
---------------------------------
Title:
XXXXXXX XXXXX PRIME RATE PORTFOLIO
By: Xxxxxxx Xxxxx Asset Management, L.P.,
as Investment Advisor
By:
-----------------------------
Title:
XXX XXXXXX AMERICAN CAPITAL PRIME RATE
INCOME TRUST
By:
---------------------------------
Title:
SENIOR DEBT PORTFOLIO
By: Boston Management and Research, as
Investment Advisor
By:
----------------------------
Title:
ORIX USA CORPORATION
By: /s/ Xxxxxxxx Xxxxxxxx
---------------------------------
Title: Xxxxxxxx Xxxxxxxx
Senior Vice President
9
ARAB BANKING CORPORATION
By: [SIGNATURE ILLEGIBLE]
----------------------------------
Title: Vice President
BANK OF SCOTLAND
By:
----------------------------------
Title:
FIRST UNION NATIONAL BANK OF NORTH CAROLINA
By:
----------------------------------
Title:
THE NIPPON CREDIT BANK, LTD.
By:
----------------------------------
Title:
WACHOVIA BANK OF GEORGIA, N.A.
By:
----------------------------------
Title:
CHRISTIANA BANK OG KREDITKASSE
By:
----------------------------------
Title:
By:
----------------------------------
Title:
9
ARAB BANKING CORPORATION
By:
----------------------------------
Title:
BANK OF SCOTLAND
By: /s/ Xxxxxx Xxxxxx
----------------------------------
Title: Asst. Vice President
FIRST UNION NATIONAL BANK OF NORTH CAROLINA
By:
----------------------------------
Title:
THE NIPPON CREDIT BANK, LTD.
By:
----------------------------------
Title:
WACHOVIA BANK OF GEORGIA, N.A.
By:
----------------------------------
Title:
CHRISTIANA BANK OG KREDITKASSE
By:
----------------------------------
Title:
By:
----------------------------------
Title:
9
ARAB BANKING CORPORATION
By:
----------------------------------
Title:
BANK OF SCOTLAND
By:
----------------------------------
Title:
FIRST UNION NATIONAL BANK OF NORTH CAROLINA
By: /s/ Xxxxxx X. Xxxxxxx
----------------------------------
Title: Vice President
THE NIPPON CREDIT BANK, LTD.
By:
----------------------------------
Title:
WACHOVIA BANK OF GEORGIA, N.A.
By:
----------------------------------
Title:
CHRISTIANA BANK OG KREDITKASSE
By:
----------------------------------
Title:
By:
----------------------------------
Title:
9
ARAB BANKING CORPORATION
By:
----------------------------------
Title:
BANK OF SCOTLAND
By:
----------------------------------
Title:
FIRST UNION NATIONAL BANK OF NORTH CAROLINA
By:
----------------------------------
Title:
THE NIPPON CREDIT BANK, LTD.
By:
----------------------------------
Title:
WACHOVIA BANK OF GEORGIA, N.A.
By:
----------------------------------
Title:
CHRISTIANA BANK OG KREDITKASSE
By: [SIGNATURE ILLEGIBLE]
----------------------------------
Title: First Vice President
By: /s/ Xxxxx X. Xxxxx
----------------------------------
Title: First Vice President
10
CORESTATES BANK, N.A.
By: [SIGNATURE ILLEGIBLE]
------------------------------------
Title: Vice President
D G BANK DEUTSCHE GENOSSENSCHAFTSBANK
By:
------------------------------------
Title:
By:
------------------------------------
Title:
THE FIRST NATIONAL BANK OF MARYLAND
By:
------------------------------------
Title:
FLEET NATIONAL BANK
By:
------------------------------------
Title:
KREDIETBANK N.V.
By:
------------------------------------
Title:
By:
------------------------------------
Title:
THE YASUDA TRUST AND BANKING COMPANY LIMITED
By:
------------------------------------
Title:
10
CORESTATES BANK, N.A.
By:
------------------------------------
Title:
D G BANK DEUTSCHE GENOSSENSCHAFTSBANK
By: [SIGNATURE ILLEGIBLE]
------------------------------------
Title: Vice President
By: /s/ Xxxx X. Xxxxx
------------------------------------
Title: Asst. Vice President
THE FIRST NATIONAL BANK OF MARYLAND
By:
------------------------------------
Title:
FLEET NATIONAL BANK
By:
------------------------------------
Title:
KREDIETBANK N.V.
By:
------------------------------------
Title:
By:
------------------------------------
Title:
THE YASUDA TRUST AND BANKING COMPANY LIMITED
By:
------------------------------------
Title:
10
CORESTATES BANK, N.A.
By:
------------------------------------
Title:
D G BANK DEUTSCHE GENOSSENSCHAFTSBANK
By:
------------------------------------
Title:
By:
------------------------------------
Title:
THE FIRST NATIONAL BANK OF MARYLAND
By: [SIGNATURE ILLEGIBLE]
------------------------------------
Title: Vice President
FLEET NATIONAL BANK
By:
------------------------------------
Title:
KREDIETBANK N.V.
By:
------------------------------------
Title:
By:
------------------------------------
Title:
THE YASUDA TRUST AND BANKING COMPANY LIMITED
By:
------------------------------------
Title:
10
CORESTATES BANK, N.A.
By:
------------------------------------
Title:
D G BANK DEUTSCHE GENOSSENSCHAFTSBANK
By:
------------------------------------
Title:
By:
------------------------------------
Title:
THE FIRST NATIONAL BANK OF MARYLAND
By:
------------------------------------
Title:
FLEET NATIONAL BANK
By: /s/ Xxxxx X. Xxxxxxx
------------------------------------
Title: Vice President
KREDIETBANK N.V.
By:
------------------------------------
Title:
By:
------------------------------------
Title:
THE YASUDA TRUST AND BANKING COMPANY LIMITED
By:
------------------------------------
Title:
10
CORESTATES BANK, N.A.
By:
------------------------------------
Title:
D G BANK DEUTSCHE GENOSSENSCHAFTSBANK
By:
------------------------------------
Title:
By:
------------------------------------
Title:
THE FIRST NATIONAL BANK OF MARYLAND
By:
------------------------------------
Title:
FLEET NATIONAL BANK
By:
------------------------------------
Title:
KREDIETBANK N.V.
By: [SIGNATURE ILLEGIBLE]
------------------------------------
Title: Assistant Treasurer
By: [SIGNATURE ILLEGIBLE]
------------------------------------
Title: Vice President
THE YASUDA TRUST AND BANKING COMPANY LIMITED
By:
------------------------------------
Title:
CORESTATES BANK, N.A.
By:
------------------------------------
Title:
D G BANK DEUTSCHE GENOSSENSCHAFTSBANK
By:
------------------------------------
Title:
By:
------------------------------------
Title:
THE FIRST NATIONAL BANK OF MARYLAND
By:
------------------------------------
Title:
FLEET NATIONAL BANK
By:
------------------------------------
Title:
KREDIETBANK N.V.
By:
------------------------------------
Title:
By:
------------------------------------
Title:
THE YASUDA TRUST AND BANKING COMPANY LIMITED
By: /s/ RM Laudenschlogn
------------------------------------
Title: Senior Vice President
00
XXXXXX XXXXXX XXXXXXXX XXXX XX XXXXXX
By:
------------------------------------------
Title:
MEESPIERSON N.V.
By:
------------------------------------------
Title:
By:
------------------------------------------
Title:
NORDDEUTSCHE LANDESBANK GIROZENTRALE
NEW YORK BRANCH AND/OR CAYMAN
ISLANDS BRANCH
By: /s/ Xxxxxxx X. Xxxxxx
------------------------------------------
Title: SVP
By: /s/ Xxxxxxxxx Xxxxxxxxxx
------------------------------------------
Title: VP
COBANK, ACB
By:
------------------------------------------
Title:
BANK AUSTRIA AKTIENGESELLSCHAFT
By:
------------------------------------------
Title:
BANK OF TOKYO-MITSUBISHI TRUST COMPANY
By:
------------------------------------------
Title:
00
XXXXXX XXXXXX XXXXXXXX XXXX XX XXXXXX
By:
------------------------------------------
Title:
MEESPIERSON N.V.
By:
------------------------------------------
Title:
By:
------------------------------------------
Title:
NORDDEUTSCHE LANDESBANK GIROZENTRALE
NEW YORK BRANCH AND/OR CAYMAN
ISLANDS BRANCH
By:
------------------------------------------
Title:
By:
------------------------------------------
Title:
COBANK, ACB
By: [SIGNATURE ILLEGIBLE]
------------------------------------------
Title: VP
BANK AUSTRIA AKTIENGESELLSCHAFT
By:
------------------------------------------
Title:
BANK OF TOKYO-MITSUBISHI TRUST COMPANY
By:
------------------------------------------
Title:
00
XXXXXX XXXXXX XXXXXXXX XXXX XX XXXXXX
By:
------------------------------------------
Title:
MEESPIERSON N.V.
By:
------------------------------------------
Title:
By:
------------------------------------------
Title:
NORDDEUTSCHE LANDESBANK GIROZENTRALE
NEW YORK BRANCH AND/OR CAYMAN
ISLANDS BRANCH
By:
------------------------------------------
Title:
By:
------------------------------------------
Title:
COBANK, ACB
By:
------------------------------------------
Title:
BANK AUSTRIA AKTIENGESELLSCHAFT
By: /s/ Xxxxxxx Xxxx/[SIGNATURE ILLEGIBLE]
------------------------------------------
Title: AVP VP
BANK OF TOKYO-MITSUBISHI TRUST COMPANY
By:
------------------------------------------
Title:
00
XXXXXX XXXXXX XXXXXXXX XXXX XX XXXXXX
By:
------------------------------------------
Title:
MEESPIERSON N.V.
By:
------------------------------------------
Title:
By:
------------------------------------------
Title:
NORDDEUTSCHE LANDESBANK GIROZENTRALE
NEW YORK BRANCH AND/OR CAYMAN
ISLANDS BRANCH
By:
------------------------------------------
Title:
By:
------------------------------------------
Title:
COBANK, ACB
By:
------------------------------------------
Title:
BANK AUSTRIA AKTIENGESELLSCHAFT
By:
------------------------------------------
Title:
BANK OF TOKYO-MITSUBISHI TRUST COMPANY
By: [SIGNATURE ILLEGIBLE]
------------------------------------------
Title:
00
XXXXXXXX XXXX, XXXXXXXXXX BANKING CORPORATION
By: /s/ Xxx Xxxxxxx
---------------------------------------------
Title: XXX XXXXXXX
SENIOR VICE PRESIDENT
CREDIT LYONNAIS NEW YORK BRANCH
By:
---------------------------------------------
Title:
MELLON BANK, N.A.
By:
---------------------------------------------
Title:
NATIONSBANK, N.A.
By:
---------------------------------------------
Title:
THE SANWA BANK, LIMITED
By:
---------------------------------------------
Title:
CHASE SECURITIES INC., as agent for The Chase
Manhattan Bank
By:
---------------------------------------------
Title:
00
XXXXXXXX XXXX, XXXXXXXXXX BANKING CORPORATION
By:
---------------------------------------------
Title:
CREDIT LYONNAIS NEW YORK BRANCH
By: [SIGNATURE ILLEGIBLE]
---------------------------------------------
Title: Vice President
MELLON BANK, N.A.
By:
---------------------------------------------
Title:
NATIONSBANK, N.A.
By:
---------------------------------------------
Title:
THE SANWA BANK, LIMITED
By:
---------------------------------------------
Title:
CHASE SECURITIES INC., as agent for The Chase
Manhattan Bank
By:
---------------------------------------------
Title:
00
XXXXXXXX XXXX, XXXXXXXXXX BANKING CORPORATION
By:
---------------------------------------------
Title:
CREDIT LYONNAIS NEW YORK BRANCH
By:
---------------------------------------------
Title:
MELLON BANK, N.A.
By:
---------------------------------------------
Title:
NATIONSBANK, N.A.
By: [SIGNATURE ILLEGIBLE]
---------------------------------------------
Title: Officer
THE SANWA BANK, LIMITED
By:
---------------------------------------------
Title:
CHASE SECURITIES INC., as agent for The Chase
Manhattan Bank
By:
---------------------------------------------
Title:
00
XXXXXXXX XXXX, XXXXXXXXXX BANKING CORPORATION
By:
---------------------------------------------
Title:
CREDIT LYONNAIS NEW YORK BRANCH
By:
---------------------------------------------
Title:
MELLON BANK, N.A.
By:
---------------------------------------------
Title:
NATIONSBANK, N.A.
By:
---------------------------------------------
Title:
THE SANWA BANK, LIMITED
By: /s/ Xxxxxx Xxxxxxxxx
---------------------------------------------
Title: Senior Vice President
Xxxxxx Xxxxxxxxx
CHASE SECURITIES INC., as agent for The Chase
Manhattan Bank
By:
---------------------------------------------
Title:
13
XXXXXX BANK LTD.
By:
----------------------------------------
Title:
By:
----------------------------------------
Title:
WESTDEUTSCHE LANDESBANK GIROZENTRALE, NEW YORK
BRANCH
By:
----------------------------------------
Title:
By:
----------------------------------------
Title:
FALCON 94, LIMITED
By:[SIGNATURE ILLEGIBLE]
----------------------------------------
Title: PORTFOLIO MANAGER
AERIES FINANCE LTD.
By:
----------------------------------------
Title:
CERES FINANCE LTD.
By:
----------------------------------------
Title:
STRATA FUNDING LTD.
By:
----------------------------------------
Title:
By:
----------------------------------------
Title:
SPS TRADE
By:/s/ Xxxxxxx X. Xxxxx
----------------------------------------
Title: Xxxxxxx X. Xxxxx
Authorized Signatory
SPS SWAPS 2
By:/s/ Xxxx Xxxxxxx
----------------------------------------
Title: Xxxx Xxxxxxx
Vice President
PROTECTIVE LIFE INSURANCE CO.
By:/s/ Xxxxx Xxxxxxx
----------------------------------------
Title: XXXXX XXXXXXX
AUTHORIZED SIGNATOR
XXXXXX XXXXXXX SENIOR FUNDING, INC.
By:/s/ Xxxxxxxxxxx X. Xxxxxxx
----------------------------------------
Title: XXXXXXXXXXX X. XXXXXXX
VICE PRESIDENT
XXXXXX COMMERCIAL PAPER INC.
By:[SIGNATURE ILLEGIBLE]
----------------------------------------
Title:
