FOURTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT
Exhibit 99 (b)
FOURTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) dated as
of June 19, 2006, among DELPHI CORPORATION, a Delaware corporation (the “Borrower”), a
debtor and debtor-in-possession in a case pending under Chapter 11 of the Bankruptcy Code, and the
subsidiaries of the Borrower signatory hereto (each a “Guarantor” and collectively the
“Guarantors”), each of which Guarantors is a debtor and debtor-in-possession in a case
pending under Chapter 11 of the Bankruptcy Code, the Lenders party hereto and JPMORGAN CHASE BANK,
N.A., as administrative agent for the Lenders (in such capacity, the “Administrative
Agent”).
W I T N E S S E T H:
WHEREAS, the Borrower, the Guarantors, the Lenders, the Administrative Agent and Citicorp USA,
Inc., as syndication agent, are parties to that certain Amended and Restated Revolving Credit, Term
Loan and Guaranty Agreement, dated as of November 21, 2005 (as the same has been and may be further
amended, modified or supplemented from time to time, the “Credit Agreement”); and
WHEREAS, the Borrower and the Guarantors have requested that from and after the Fourth
Amendment Effective Date (as hereinafter defined), the Credit Agreement be amended subject to and
upon the terms and conditions set forth herein;
NOW, THEREFORE, the parties hereto hereby agree as follows:
1. Defined Terms Generally. As used herein, all terms that are defined in the Credit
Agreement shall have the same meanings herein.
2. Amendment to Section 1.01 of Credit Agreement (Defined Terms). The definition of
“Financial Officer” in Section 1.01 of the Credit Agreement is hereby amended by inserting the
phrase “, chief accounting officer” after the words “chief restructuring officer”.
3. Amendment to Section 5.01(a) of Credit Agreement (Annual Financial Statements).
Section 5.01(a) of the Credit Agreement is hereby amended by replacing the phrase “170 days”
therein with the phrase “200 days”.
4. Amendment to Section 5.01(b) of Credit Agreement (Quarterly Financial Statements).
Section 5.01(b) of the Credit Agreement is hereby amended by deleting the phrase “or, with respect
to the fiscal quarters ending September 30, 2005 and March 31, 2006, no later than December 31,
2005 and June 30, 2006, respectively” and replacing it with the following:
“or (x) with respect to the fiscal quarter ending September 30, 2005, no later than December
31, 2005, (y) with respect to the fiscal quarter ending March 31, 2006, no later than the later to
occur of (1) July 31, 2006 and (2) the date which is 30 days after the date on which the
consolidated balance sheets and related consolidated statements of income and consolidated cash flows for the Domestic Entities and the Global Entities for the fiscal year
ending December 31, 2005 are delivered to the Administrative Agent in accordance with Section
5.01(a) (the date of such delivery being the “2005 10K Delivery Date”), and (z) with
respect to the fiscal quarter ending June 30, 2006, no later than the later to occur of (1) the
date which is 60 days after the end of such quarter (or such shorter period as the United States
Securities and Exchange Commission may specify for the filing of quarterly reports on Form 10-Q)
and (2) the date which is 30 days after the 2005 10K Delivery Date”.
5. Amendment to Section 6.01(xxii) of Credit Agreement (Liens). Section 6.01(xxii) of
the Credit Agreement is hereby amended by replacing the reference to “$100,000,000” therein with
“$175,000,000”.
6. Conditions to Effectiveness. This Amendment shall become effective on the first
date (the “Fourth Amendment Effective Date”) on which all of the following conditions have
been satisfied: (a) this Amendment shall have been executed by the Borrower, the Guarantors, the
Administrative Agent and the Required Lenders, and the Administrative Agent shall have received
evidence satisfactory to it of such execution, (b) the Administrative Agent shall have received an
amendment fee for the account of each Lender that has executed and delivered a signature page
hereto to the Administrative Agent no later than 3:00pm on June 19, 2006 (or such later deadline as
may be indicated by the Administrative Agent for receipt of signature) in an amount equal to 3
basis points of such Lender’s Commitment, and (c) any fees owing to the Administrative Agent, as
separately agreed to in writing by the Borrower and the Administrative Agent have been paid in
full.
7. Miscellaneous.
(a) Except to the extent hereby amended, the Credit Agreement and each of the other Loan
Documents remain in full force and effect and are hereby ratified and affirmed.
(b) The Borrower agrees that its obligations set forth in Section 10.05 of the Credit
Agreement shall extend to the preparation, execution and delivery of this Amendment, including the
reasonable fees and disbursements of special counsel to the Administrative Agent and the Arrangers.
(c) This Amendment shall be limited precisely as written and shall not be deemed (i) to be a
consent granted pursuant to, or a waiver or modification of, any other term or condition of the
Credit Agreement or any of the instruments or agreements referred to therein or (ii) to prejudice
any right or rights which the Agents or the Lenders may now have or have in the future under or in
connection with the Credit Agreement or any of the instruments or agreements referred to therein.
Whenever the “Agreement” or the “Credit Agreement” is referred to in the Credit Agreement or any of
the instruments, agreements or other documents or papers executed or delivered in connection
therewith, such reference shall be deemed to mean the Credit Agreement as modified by this
Amendment.
(d) This Amendment may be executed in any number of counterparts and by the different parties
hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be
an original and all of which taken together shall constitute but one and the same instrument.
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(e) This Amendment shall be governed by, and construed in accordance with, the laws of the
State of New York and (to the extent applicable) the Bankruptcy Code.
[SIGNATURE PAGES TO FOLLOW]
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of
the day and the year first written.
BORROWER: | ||||||
DELPHI CORPORATION | ||||||
By: | /s/ XXXX X. XXXXXXX | |||||
Name: Xxxx X. Xxxxxxx | ||||||
Title: Vice President and Chief Restructuring Officer | ||||||
GUARANTORS: | ||||||
ASEC MANUFACTURING GENERAL PARTNERSHIP, | ||||||
a Delaware general partnership | ||||||
By: | /s/ XXXX X. XXXX | |||||
Name: Xxxx X. Xxxx | ||||||
Title: Treasurer | ||||||
ASEC SALES GENERAL PARTNERSHIP, | ||||||
a Delaware general partnership | ||||||
By: | /s/ XXXX X. XXXX | |||||
Name: Xxxx X. Xxxx | ||||||
Title: Treasurer | ||||||
ASPIRE, INC., | ||||||
a Michigan corporation | ||||||
By: | /s/ XXXXX X. XXXXXXX | |||||
Name: Xxxxx X. Xxxxxxx | ||||||
Title: Vice President |
DELCO ELECTRONIC OVERSEAS CORPORATION, | ||||||
a Delaware corporation | ||||||
By: | /s/ XXXX X. XXXX | |||||
Name: Xxxx X. Xxxx | ||||||
Title: Assistant Treasurer | ||||||
DELPHI AUTOMOTIVE SYSTEMS (HOLDING), INC., | ||||||
a Delaware corporation | ||||||
By: | /s/ XXXX X. XXXXXXX | |||||
Name: Xxxx X. Xxxxxxx | ||||||
Title: President | ||||||
DELPHI AUTOMOTIVE SYSTEMS GLOBAL
(HOLDING), INC., |
||||||
a Delaware corporation | ||||||
By: | /s/ XXXX X. XXXXXXX | |||||
Name: Xxxx X. Xxxxxxx | ||||||
Title: President | ||||||
DELPHI AUTOMOTIVE SYSTEMS HUMAN RESOURCES LLC,
|
||||||
a Delaware limited liability company | ||||||
By: | /s/ XXXX X. XXXX | |||||
Name: Xxxx X. Xxxx | ||||||
Title: Vice President & Treasurer | ||||||
DELPHI AUTOMOTIVE SYSTEMS
INTERNATIONAL, INC., |
||||||
a Delaware corporation | ||||||
By: | /s/ XXXX X. XXXX | |||||
Name: Xxxx X. Xxxx | ||||||
Title: Treasurer |
DELPHI AUTOMOTIVE SYSTEMS KOREA, INC., | ||||||
a Delaware corporation | ||||||
By: | /s/ XXXX X. XXXX
|
|||||
Name: Xxxx X.Xxxx | ||||||
Title: Chief Executive Officer & President | ||||||
DELPHI AUTOMOTIVE SYSTEMS LLC, | ||||||
a Delaware limited liability company | ||||||
By: | /s/ XXXX X. XXXXXXX | |||||
Name: Xxxx X. Xxxxxxx | ||||||
Title: Vice President and Chief Restructuring | ||||||
Officer; Chief Accounting Officer and Controller | ||||||
DELPHI AUTOMOTIVE SYSTEMS OVERSEAS CORPORATION, | ||||||
a Delaware corporation | ||||||
By: | /s/ XXXX X. XXXX | |||||
Name: Xxxx X. Xxxx | ||||||
Title: Treasurer | ||||||
DELPHI AUTOMOTIVE SYSTEMS RISK MANAGEMENT CORP., | ||||||
a Delaware corporation | ||||||
By: | /s/ XXXX X. XXXXXXX | |||||
Name: Xxxx X. Xxxxxxx | ||||||
Title: Vice President & Treasurer | ||||||
DELPHI AUTOMOTIVE SYSTEMS SERVICES LLC, | ||||||
a Delaware limited liability company | ||||||
By: | /s/ XXXX X. XXXX | |||||
Name: Xxxx X. Xxxx | ||||||
Title: Treasurer |
DELPHI AUTOMOTIVE SYSTEMS TENNESSEE, INC., | ||||||
a Delaware corporation | ||||||
By: | /s/ XXXX X. XXXX | |||||
Name: Xxxx X. Xxxx | ||||||
Title: Treasurer | ||||||
DELPHI AUTOMOTIVE SYSTEMS THAILAND, INC., | ||||||
a Delaware corporation | ||||||
By: | /s/ XXXX X. XXXX | |||||
Name: Xxxx X. Xxxx | ||||||
Title: Treasurer | ||||||
DELPHI CHINA LLC, | ||||||
a Delaware limited liability company | ||||||
By: | /s/ XXXXX X. XXXXXXX | |||||
Name: Xxxxx X. Xxxxxxx | ||||||
Title: Chief Tax Officer | ||||||
DELPHI CONNECTION SYSTEMS, | ||||||
a California corporation | ||||||
By: | /s/ XXXX X. XXXX | |||||
Name: Xxxx X. Xxxx | ||||||
Title: Treasurer | ||||||
DELPHI DIESEL SYSTEMS CORP., | ||||||
a Delaware corporation | ||||||
By: | /s/ XXXXX X. XXXXXXX | |||||
Name: Xxxxx X. Xxxxxxx | ||||||
Title: Chief Tax Officer |
DELPHI ELECTRONICS (HOLDING) LLC, | ||||||
a Delaware limited liability company | ||||||
By: | /s/ XXXX X. XXXX | |||||
Name: Xxxx X. Xxxx | ||||||
Title: Assistant Treasurer | ||||||
DELPHI FOREIGN SALES CORPORATION, | ||||||
a Virgin Islands corporation | ||||||
By: | /s/ XXXX X. XXXXXXX | |||||
Name: Xxxx X. Xxxxxxx | ||||||
Title: Controller | ||||||
DELPHI INTEGRATED SERVICE SOLUTIONS, INC., | ||||||
a Michigan corporation | ||||||
By: | /s/ XXXXX X. XXXXXXX | |||||
Name: Xxxxx X. Xxxxxxx | ||||||
Title: Vice President | ||||||
DELPHI INTERNATIONAL HOLDINGS CORP., | ||||||
a Delaware corporation | ||||||
By: | /s/ XXXX X. XXXXXXX | |||||
Name: Xxxx X. Xxxxxxx | ||||||
Title: President | ||||||
DELPHI INTERNATIONAL SERVICES, INC., | ||||||
a Delaware corporation | ||||||
By: | /s/ XXXX X. XXXX | |||||
Name: Xxxx X. Xxxx | ||||||
Title: Chief Financial Officer & Treasurer |
DELPHI LIQUIDATION HOLDING COMPANY, | ||||||
a Delaware corporation | ||||||
By: | /s/ XXXX X. XXXXXXX | |||||
Name: Xxxx X. Xxxxxxx | ||||||
Title: President | ||||||
DELPHI LLC, | ||||||
a Delaware limited liability company | ||||||
By: | /s/ XXXX X. XXXXXXX | |||||
Name: Xxxx X. Xxxxxxx | ||||||
Title: President | ||||||
DELPHI MECHATRONIC SYSTEMS, INC., | ||||||
a Delaware corporation | ||||||
By: | /s/ XXXX X. XXXX | |||||
Name: Xxxx X. Xxxx | ||||||
Title: Treasurer | ||||||
DELPHI MEDICAL SYSTEMS COLORADO CORPORATION, | ||||||
a Colorado corporation | ||||||
By: | /s/ XXXX X. XXXX | |||||
Name: Xxxx X. Xxxx | ||||||
Title: Vice President & Treasurer | ||||||
DELPHI MEDICAL SYSTEMS CORPORATION, | ||||||
a Delaware corporation | ||||||
By: | /s/ XXXX X. XXXX | |||||
Name: Xxxx X. Xxxx | ||||||
Title: Vice President & Treasurer |
DELPHI MEDICAL SYSTEMS TEXAS CORPORATION, | ||||
a Delaware corporation | ||||
By: | /s/ XXXX X. XXXX | |||
Name: Xxxx X. Xxxx | ||||
Title: Vice President & Treasurer | ||||
DELPHI NY HOLDING CORPORATION, | ||||
a New York corporation | ||||
By: | /s/ XXXX X. XXXXXXX | |||
Name: Xxxx X. Xxxxxxx | ||||
Title: President | ||||
DELPHI SERVICES HOLDING CORPORATION, | ||||
a Delaware corporation | ||||
By: | /s/ XXXX X. XXXX | |||
Name: Xxxx X. Xxxx | ||||
Title: Treasurer | ||||
DELPHI TECHNOLOGIES, INC., | ||||
a Delaware corporation | ||||
By: | /s/ XXXXXX X. XXXXXX | |||
Name: Xxxxxx X. Xxxxxx | ||||
Title: Vice President Intellectual Property | ||||
DREAL, INC., | ||||
a Delaware corporation | ||||
By: | /s/ XXXX X. XXXXXXX | |||
Name: Xxxx X. Xxxxxxx | ||||
Title: President |
ENVIRONMENTAL CATALYSTS, LLC, | ||||
a Delaware limited liability company | ||||
By: | /s/ XXXXXX X. XXXXXX | |||
Name: Xxxxxx X. Xxxxxx | ||||
Title: Treasurer | ||||
EXHAUST SYSTEMS CORPORATION, | ||||
a Delaware corporation | ||||
By: | /s/ XXXX X. XXXX | |||
Name: Xxxx X. Xxxx | ||||
Title: Assistant Treasurer | ||||
PACKARD XXXXXX INTERCONNECT COMPANY, | ||||
a Delaware corporation | ||||
By: | /s/ XXXXX X. XXXXXXX | |||
Name: Xxxxx X. Xxxxxxx | ||||
Title: Chief Tax Officer | ||||
SPECIALTY ELECTRONICS INTERNATIONAL | ||||
LTD., | ||||
a Virgin Islands corporation | ||||
By: | /s/ XXXXXXX X. XXXXXX | |||
Name: Xxxxxxx X. Xxxxxx | ||||
Title: Treasurer and Secretary | ||||
SPECIALTY ELECTRONICS, INC., | ||||
a South Carolina corporation | ||||
By: | /s/ XXXXX X. XXXXXXX | |||
Name: Xxxxx X. Xxxxxxx | ||||
Title: Chief Tax Officer |
AGENTS AND LENDERS: | ||||
JPMORGAN CHASE BANK, N.A. | ||||
Individually and as Administrative Agent | ||||
By: | /s/ XXXXXX XXXXXXXX | |||
Name: Xxxxxx Xxxxxxxx | ||||
Title: Associate | ||||
CITICORP USA, INC. | ||||
By: | /s/ XXXXXXX XXXX | |||
Name: Xxxxxxx Xxxx | ||||
Title: Director |
Signature page for the Fourth Amendment to Amended and Restated Credit Agreement, dated as of June 19, 2006 among Delphi Corporation and the lenders party thereto | ||||
Name of Lender: | ||||
By: | ||||
Name: | ||||
Title: |