EXHIBIT 3.36
THIRD AMENDMENT
TO THE
SECOND AMENDED AND RESTATED TRUST AGREEMENT
This THIRD AMENDMENT (this "Third Amendment") to the Second Amended and
Restated Trust Agreement, dated as of September 29, 1995, among the Wilmington
Trust Company, a Delaware banking corporation, not in its individual capacity,
but solely as owner trustee thereunder ("Owner Trustee"), and 747, Inc., an
Oregon corporation ("747"), Xxxx, Xxxxxxxxx Inc., a Nevada corporation ("Xxxx
Xxxxxxxxx"), and Xxxxxxx X. Xxxxx, as beneficiaries, is made as of May 10, 2004,
among Owner Trustee, Evergreen International Aviation, Inc., an Oregon
corporation ("Aviation"), and Xxxxxxx X. Xxxxx.
W I T N E S S E T H:
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WHEREAS, a trust (the "1986 Trust") was created pursuant to the Trust
Agreement, dated as of February 25, 1986, as amended and restated pursuant to
the Amended and Restated Trust Agreement, dated as of August 31, 1987, as
amended on August 31, 1988, as amended and restated by the Second Amended and
Restated Trust Agreement, dated as of September 29, 1995, as amended by the
First Amendment thereto as of May 8, 2003, as amended by the Second Amendment
thereto as of January 14, 2004, and as amended by the Third Amendment thereto as
of May 10, 2004, among Aviation and Xxxxxxx X. Xxxxx, as Beneficiaries, and
Wilmington Trust Company, not in its individual capacity, but solely as Owner
Trustee (as amended and restated, the "Existing Trust Agreement")
WHEREAS, pursuant to Articles of Merger filed on August 11, 1998 with the
Secretary of State of the State of Oregon, 747 and Xxxx Xxxxxxxxx were merged
with and into Holdings, with Holdings as the surviving corporation.
WHEREAS, the Assignment and Assumption Agreement, dated as of July 31,
1998, was entered into between Holdings and Aviation, whereby Holdings assigned
all its rights, title and interests in, to and under the Trust Agreement to
Aviation, and Aviation assumed all Holdings' obligations thereunder.
WHEREAS, certain subsidiaries (the "Borrowers") of Aviation and Aviation
have elected to enter into the Loan and Security Agreement, to be dated on or
about May 12, 2004 (the "Loan and Security Agreement"), among Aviation, the
Borrowers, the lenders that are parties thereto, and Xxxxx Fargo Foothill, Inc.,
as the arranger and administrative agent.
WHEREAS, pursuant to the Loan and Security Agreement, the Owner Trustee
will unconditionally guarantee (the "General Continuing Guaranty") the Borrowers
obligations arising under the Loan and Security Agreement.
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WHEREAS, in connection with the General Continuing Guaranty, FINOVA Capital
Corporation ("FINOVA") has requested that the Secured Loan Agreement, dated as
of May 7, 1997 (as amended, the "Secured Loan Agreement"), among FINOVA,
Wilmington Trust Company, not in its individual capacity, except as expressly
set forth therein, but solely as Owner Trustee under the Existing Trust
Agreement, Aviation and Xxxxxxx X. Xxxxx, be amended by an amendment agreement
(the "Second Secured Loan Amendment Agreement'), providing that an event of
default under the Loan and Security Agreement constitute an event of default
under the Secured Loan Agreement.
WHEREAS, FINOVA, pursuant to a Waiver and Consent, dated May 10, 2004, has
consented to the Owner Trustee's entering into the transactions contemplated
above.
WHEREAS, the Wilmington Trust Company, Aviation and Xxxxxxx X. Xxxxx desire
to amend the terms of the Existing Trust Agreement to allow for the entering by
the Owner Trustee in the transactions as contemplated above.
NOW, THEREFORE, in consideration of the premises and of other good and
valuable consideration, receipt of which is hereby acknowledged, the parties
hereto agree to amend the Existing Trust Agreement in its entirety as follows:
Section 1. AMENDMENT OF SECTION 1.2 OF THE EXISTING TRUST AGREEMENT. The
parties hereto agree that Section 1.2 of the Existing Trust Agreement is hereby
amended to include the following sub-sections:
"(i) (a) to execute and deliver the General Continuing Guaranty, to be
dated on or about May 12, 2004 (the "Loan and Security Agreement
Guaranty"), by and among Evergreen Holdings, Inc. and each of its
subsidiaries that are signatories thereto in favor of Xxxxx Fargo Foothill,
Inc., as arranger and administrative agent for the Lenders (as defined
therein); to execute and deliver the Intercreditor Agreement (the
"Intercreditor Agreement"), dated as of the date of the Loan and Security
Agreement Guaranty, by and between X.X. Xxxxxx Trust Company, National
Association, not in its individual capacity but solely as Trustee (as
defined therein) under the Junior Agreement (as defined therein), as junior
collateral agent for the Trustee and the holders of the Senior Second Notes
(as defined therein), and Xxxxx Fargo Foothill, Inc., as the arranger and
administrative agent for the Senior Lenders (as defined therein); and to
execute and deliver the Intercompany Subordination Agreement ("the
Intercompany Subordination Agreement"), dated as of the date of the Loan
and Security Agreement Guaranty, by and among Evergreen International
Aviation, Inc., each of its subsidiaries signatories thereto and Xxxxx
Fargo Foothill, Inc., as arranger and administrative agent for the Lenders
(as defined therein), and (b) to enter into and execute all other documents
and to perform all agreements or other obligations in connection with such
agreements upon the instruction of the Beneficiary."
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Section 2. AMENDMENT TO SECTION 4.7(A) OF THE EXISTING TRUST AGREEMENT. The
parties hereto agree that Section 4.7(a) of the Existing Trust Agreement is
hereby amended to include the following sub-section:
"(5) take all such actions as required to be taken in connection with the
obligations of the Trustee under the Loan and Security Agreement Guaranty,
the Intercreditor Agreement and the Intercompany Subordination Agreement,
and any and all other documents or agreements entered into connection
therewith at the instruction of the Beneficiary."
Section 3. ENTIRE AGREEMENT. This Agreement and the other documents
attached hereto or incorporated by reference herein constitute the entire
agreement of the parties hereto with respect to the subject matter hereof and
supersedes all other understandings, oral and written, with respect to the
subject matter hereof.
Section 4. APPLICABLE LAW. THIS AGREEMENT SHALL BE DEEMED TO HAVE BEEN
NEGOTIATED AND MADE IN, AND SHALL BE GOVERNED AND INTERPRETED UNDER THE LAWS OF
THE STATE OF DELAWARE APPLICABLE TO AGREEMENTS MADE BY RESIDENTS THEREOF TO BE
ENTIRELY PERFORMED THEREIN.
Section 5. COUNTERPARTS. This Agreement may be executed in any number of
counterparts, all of which taken together shall constitute one and the same
instrument and any of the parties hereto may execute this Agreement by signing
any such counterpart.
Section 6. EFFECT OF AMENDMENT. Except as specifically set forth herein,
all other provisions of the Existing Trust Agreement shall remain in fall forth
and effect.
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IN WITNESS WHEREOF, the parties have caused this Third Amendment to the
Second Amended and Restated Trust Agreement to be duly executed by their duly
authorized officers as of the day and year first above written.
WILMINGTON TRUST COMPANY,
not in its individual capacity,
but solely as Owner Trustee
By: /S/ XXXXX X. XXXX
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Name: Xxxxx X. Xxxx
Title: Financial Services Officer
EVERGREEN INTERNATIONAL AVIATION, INC.
By: /S/ XXXX X. XXXXX
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Name: Xxxx X. Xxxxx
Title: Treasurer
XXXXXXX X. XXXXX
/S/ XXXXXXX X. XXXXX
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CONSENTED TO.
FINOVA CAPITAL CORPORATION
By: /S/ XXXXX X. XXXXXXXXX
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Name: Xxxxx X. XxxXxxxxx
Title: Senior Vice President
EVERGREEN INTERNATIONAL AIRLINES, INC.
By: /S/ XXXX X. XXXXX
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Name: Xxxx X. Xxxxx
Title: Treasurer
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