AMENDMENT NO. 1 TO SERIES 2008-1 NOTE PURCHASE AGREEMENT
EXHIBIT 10.63
AMENDMENT NO. 1 TO SERIES 2008-1
NOTE PURCHASE AGREEMENT
NOTE PURCHASE AGREEMENT
AMENDMENT NO. 1 TO SERIES 2008-1 NOTE PURCHASE AGREEMENT, dated as of September 15, 2008 (this
“Amendment”), between TAL Advantage II LLC, a limited liability company organized under the
laws of Delaware, as Issuer (the “Issuer”) and Fortis Capital Corp., ING Bank N.V. and
Bayersiche Hypo -und Vereinsbank AG (each a “Purchaser”, and collectively, the
“Purchasers”), and each Purchaser’s respective deal agent (the “Deal Agents”);
WHEREAS, the Issuer, Fortis Capital Corp. (as initial Purchaser), noteholders from time to
time a party thereto and other financial institutions from time to time a party thereto are parties
to the Note Purchase Agreement, dated as of March 27, 2008, as amended, modified or supplemented
from time to time in accordance with its terms (the “Note Purchase Agreement”), providing
among other things, for the delivery of the Notes and the increase or decrease of the actual
outstanding balance from time to time in accordance with the terms therein and in accordance with
the Series 2008-1 Series Supplement, dated as of March 27, 2008 (as amended, modified or
supplemented from time to time) (the “Series 2008-1 Supplement”) and in accordance with the
Indenture, dated as of March 27, 2008 (as amended, modified or supplemented from time to time) (the
“Indenture”);
WHEREAS, pursuant to Section 8.1 of the Note Purchase Agreement and subject to certain
conditions stated therein, the Issuer, the Purchasers, the Deal Agents and the Control Party for
Series 2008-1 may amend the Note Purchase Agreement; and
WHEREAS, the Issuer, the Purchasers, the Deal Agents and the Control Party for Series 2008-1
desire to amend the Note Purchase Agreement in accordance with the terms and conditions set forth
below;
NOW THEREFORE, in consideration of the foregoing premises, the parties mutually agree and
consent as follows:
ARTICLE I
Definitions
SECTION 1.1. Defined Terms. Terms for which meanings are provided in the Note
Purchase Agreement are, unless otherwise defined herein or the context otherwise requires, used
in this Amendment with such meanings.
ARTICLE II
Amendment to the Note Purchase Agreement
SECTION 2.1. Subject to the satisfaction of the conditions specified in Article III
below and effective as of the Amendment Effective Date (as defined herein), the Note Purchase
Agreement shall be amended as follows:
(a) Amendment to Section 2.3. Increase/Reduction of the Series 2008-1 Note Existing
Commitment. Paragraph (b) of Section 2.3 is hereby amended by deleting the first sentence of
paragraph (b) in its entirety and replacing it with the following:
“The Issuer may, by means of a letter delivered to Administrative
Agent and the Indenture Trustee on not more than five (5) occasions
prior to the Conversion Date, request that the aggregate Series
2008-1 Note Existing Commitments be increased by an aggregate amount
not to exceed Two Hundred Seventy Five Million Dollars
($275,000,000), by (a) increasing the commitment of one or more then
existing Series 2008-1 Noteholders that have agreed to such increase
and/or (b) by issuing additional Series 2008-1 Notes to add one or
more commercial banks, finance companies or other Persons acceptable
to the Issuer (each an “Additional Series 2008-1
Noteholder”) with a Series 2008-1 Note Existing Commitment in an
amount agreed to by any such Additional Series 2008-1 Noteholder.”
ARTICLE III
Condition Precedent
SECTION 3.1. This Amendment shall become effective as of the date on which this Amendment
is executed and delivered by the parties hereto (the “Amendment Effective Date”).
(a) .
ARTICLE IV
Miscellaneous
SECTION 4.1. Successors and Assigns. The terms and conditions of this Amendment
shall inure to the benefit of and be binding upon the successors and permitted assigns of the
parties hereto.
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SECTION 4.2. Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE
GENERAL OBLIGATIONS LAW BUT OTHERWISE WITHOUT GIVING EFFECT TO THE PRINCIPLES OF CONFLICTS OF
LAW, AND THE RIGHTS, OBLIGATIONS AND REMEDIES OF THE PARTIES HERETO SHALL BE DETERMINED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
SECTION 4.3. Severability Clause. In case any provision in this Amendment shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby and such provision shall be
ineffective only to the extent of such invalidity, illegality or unenforceability.
SECTION 4.4. Ratification of Note Purchase Agreement; Amendment Part of Note Purchase
Agreement. Except as expressly amended hereby, the Note Purchase Agreement is in all
respects ratified and confirmed and all the terms, conditions and provisions thereof shall
remain in full force and effect. This Amendment shall form a part of the Note Purchase
Agreement for all purposes, and every Noteholder of Notes heretofore or hereafter authenticated
and delivered shall be bound hereby.
SECTION 4.5. Counterparts. The parties hereto may sign one or more copies of this
Amendment in counterparts, all of which together shall constitute one and the same agreement.
SECTION 4.6. Headings. The headings of the Articles and the Sections in this
Amendment are for convenience of reference only and shall not be deemed to alter or affect the
meaning or interpretation of any provisions hereof.
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of
the date first above written.
TAL ADVANTAGE II LLC, as Issuer, | ||||||
By: | TAL International Container Corporation, | |||||
its Manager | ||||||
By: | ||||||
Title: |
Amendment No. 1 to
Series 2008-1 Note Purchase Agreement
Series 2008-1 Note Purchase Agreement
S-1
Agreed to and Acknowledged by, as of the date first above written:
FORTIS CAPITAL CORP., | ||||
as Purchaser and Deal Agent | ||||
By: |
||||
Title: | ||||
ING BANK N.V., | ||||
as Purchaser and Deal Agent | ||||
By: |
||||
Title: | ||||
BAYERISCHE HYPO -UND VEREINSBANK AG, | ||||
as Purchaser and Deal Agent | ||||
By: |
||||
Title: |
Amendment No. 1 to
Series 2008-1 Note Purchase Agreement
Series 2008-1 Note Purchase Agreement
S-2