AMENDMENT NO. 4 TO THE CREDIT AGREEMENT
Exhibit 10.5
EXECUTION COPY
AMENDMENT NO. 4 TO THE
CREDIT AGREEMENT
CREDIT AGREEMENT
Dated as of April 25, 2008
AMENDMENT NO. 4 TO THE CREDIT AGREEMENT among DEL MONTE CORPORATION, a Delaware corporation
(the “Borrower”), DEL MONTE FOODS COMPANY, a Delaware corporation (“Holdings”), each lender from
time to time party thereto (collectively, the “Lenders” and individually, a “Lender”), and BANK OF
AMERICA, N.A., as administrative agent (the “Administrative Agent”) for the Lenders.
PRELIMINARY STATEMENTS:
(1) The Borrower, Holdings, the Lenders, Bank of America, N.A., as Administrative Agent, Swing
Line Lender and L/C Issuer, Xxxxxx Commercial Paper Inc. and Xxxxxxx Sachs Credit Partners L.P, as
Co-Syndication Agents, and Xxxxxx Trust and Savings Bank and Suntrust Bank, as Co-Documentation
Agents, have entered into a Credit Agreement dated as of February 8, 2005 (as amended by Amendment
No. 1 dated as of January 20, 2006, Amendment No. 2 dated as of May 19, 2006, and Amendment No. 3
dated as of August 15, 2006, the “Credit Agreement”). Capitalized terms not otherwise
defined in this Amendment have the same meanings as specified in the Credit Agreement.
(2) The Borrower and the Required Lenders have agreed to amend the Credit Agreement as
hereinafter set forth.
SECTION 1. Amendments to Credit Agreement. Effective as of the date first written
above, the Credit Agreement is, subject to the satisfaction of the conditions precedent set forth
in Section 2, hereby amended as follows:
(a) The definition of “Additional Fee Letters” is hereby amended in its
entirety to read as follows: “Additional Fee Letters” means, collectively, the
Additional Fee Letter, the Additional Term B-3 Fee Letter and that certain Fee Letter dated
as of April 25, 2008 from Bank of America to the Borrower in respect of that certain
Amendment No. 4 to the Credit Agreement, dated as of April 25, 2008, by and among the
Borrower, Holdings, each of the Lenders party thereto and the Administrative Agent.
(b) Section 2.05(b)(i)(A) is hereby amended in its entirety to read as follows:
“ (A) with respect to any such Disposition that is consummated (1) on or prior to
July 30, 2006 (a “2006 Disposition”) or (2) pursuant to a definitive
agreement entered into by Holdings or any of its Subsidiaries on or after April 1,
2008 but prior to December 31, 2008 (a “2008 Disposition”) and which in
either case, results in the realization by Holdings or such Subsidiary of Net Cash
Proceeds (determined as of the date of consummation of such Disposition,
whether or
not such Net Cash Proceeds are then received by Holdings or such Subsidiary, but
with the amount of any such Net Cash Proceeds attributable to any time period after
the consummation of such Disposition with respect to such Disposition to be
determined by an estimate made in good faith by a Responsible Officer) in excess of
(x) with respect to a 2006 Disposition, $50,000,000 and (y) with respect to a 2008
Disposition, $100,000,000 (any such Disposition as described in this Section
2.05(b)(i)(A), a “Major Disposition”), the Borrower shall prepay
substantially contemporaneously with the consummation of such Major Disposition
pursuant to this Section 2.05(b)(i)(A) an aggregate principal amount of
Loans equal to (x) in the case of a 2006 Disposition, 20% of, and (y) in the case of
a 2008 Disposition, 100% of, the Net Cash Proceeds received by Holdings or its
Subsidiaries upon the consummation of such Major Disposition; provided that (x) any
Net Cash Proceeds remaining after the prepayments required to be made pursuant to
the foregoing may be used at the discretion of Holdings or the applicable Subsidiary
for general corporate purposes not in contravention of any Law or Loan Document
(including, without limitation, the making of any Restricted Payment not in
contravention of Section 7.06 hereof) and (y) in the case of any Major
Disposition permitted by Section 7.05(k), (I) any such prepayment only shall
be required to be made within 180 days of the date of the Disposition, and (II) the
amount required to be prepaid pursuant to this Section 2.05(b)(i)(A) with
respect to such Disposition permitted by Section 7.05(k) shall be 50% of the
first $200,000,000 of Net Cash Proceeds therefrom and 100% of all Net Cash Proceeds
in excess of $200,000,000 received therefrom;”
(c) Section 7.04 of the Credit Agreement is amended by replacing “.” at the end
of clause (d) with “; and” and adding a new clause (e) to read in full as
follows:
“ (e) in connection with any Disposition permitted under Section 7.05(j),
any Subsidiary of the Borrower may merge or consolidate with any other Person (with
either such Subsidiary or such other Person being the surviving entity with respect
to such merger or consolidation); provided that the Person surviving such merger or
consolidation shall after such merger or consolidation not be an Affiliate of
Holdings; and any such merger or consolidation shall be deemed to be a disposition
subject to the release provisions in respect of Collateral pursuant to Section
26 of the Security Agreement.”
(d) Clause (j) of Section 7.05 of the Credit Agreement is amended to
read in full as follows:
“(j) Dispositions by the Borrower and its Subsidiaries not otherwise
permitted under this Section 7.05 for fair market value;
provided that (i) at the time of such Disposition, no Default shall
exist or would result from such Disposition; (ii) the Borrower would be in
compliance with Section 7.10 as of the most recently completed
Measurement Period ending prior to such Disposition for which the financial
statements and certificates required by Section 6.01(a) or
6.01(b), as applicable, were required to be
delivered, after giving pro forma effect to such Disposition and the
application of any proceeds thereof (including, without limitation, the
application of any such proceeds to the repayment of Indebtedness) as if
such Disposition and application of the proceeds therefrom had occurred as
of the first day of such Measurement Period; and (iii) at least 75% of the
purchase price for such asset shall be paid to the Borrower or such
Subsidiary in cash or Cash Equivalents (which determination of cash or Cash
Equivalents shall be deemed to include any Designated Noncash Consideration
(as defined in the New Subordinated Notes Indenture as in effect as of the
date of this Agreement)); provided that up to $10,000,000 per fiscal year in
fair market value of property disposed of in reliance on this clause
(j) may be disposed of for less than fair market value or for
consideration other than 75% cash or Cash Equivalents; provided further,
that the fair market value of any property disposed of in reliance on this
clause (j) for which no portion of the consideration is paid in cash
or Cash Equivalents shall not exceed $2,000,000 for any single transaction
or series of related transactions; and”
(e) Section 7.10 of the Credit Agreement is hereby amended to read in full as
follows:
“SECTION 7.10 Financial Covenants. (a) Total Debt Ratio.
Permit the Total Debt Ratio for any Measurement Period set forth below to be greater
than the ratio set forth below opposite such period:
Four Fiscal Quarters Ending |
Maximum Total Debt Ratio | ||||
Amendment No. 2 Effective Date through January 25, 2009 |
5.25:1.00 | ||||
May 3, 2009 through January 31, 2010 |
4.75:1.00 | ||||
May 2, 2010 through January
30, 2011 |
4.25:1.00 | ||||
May 1, 2011 and thereafter |
3.75:1.00 | ||||
(b) Fixed Charge Coverage Ratio. Permit the Fixed Charge Coverage
Ratio for any Measurement Period to be less than 1.15:1.00.”
SECTION 2. Conditions of Effectiveness. This Amendment shall become effective as of
the date first written above when, and only when, on or before April 30, 2008: (i) the
Administrative Agent and the Borrower shall have received (A) counterparts of this Amendment
executed by the Borrower and the Required
Lenders and acknowledged by the Administrative Agent, (B) the consent attached hereto executed
by each Guarantor, and (C) a
counterpart of that certain fee letter, dated as of the date hereof
(the “Fee Letter”), executed by the Borrower and the Administrative Agent; and (ii) the
Borrower shall have paid all fees set forth in the Fee Letter and the reasonable and documented
expenses (including the reasonable fees and expenses of Shearman & Sterling LLP) incurred by the
Administrative Agent in connection with the preparation, negotiation and execution of this
Amendment. This Amendment is subject to the provisions of Section 11.01 of the Credit
Agreement.
SECTION 3. Reference to and Effect on the Credit Agreement and the Loan Documents.
(a) On and after the effectiveness of this Amendment, each reference in the Credit Agreement to
“this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement,
and each reference in the Notes and each of the other Loan Documents to “the Credit Agreement”,
“thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and
be a reference to the Credit Agreement, as amended by this Amendment.
(b) The Credit Agreement, the Notes and each of the other Loan Documents, as specifically
amended by this Amendment, are and shall continue to be in full force and effect and are hereby in
all respects ratified and confirmed. Without limiting the generality of the foregoing, the
Collateral Documents and all of the Collateral described therein do and shall continue to secure
the payment of all Obligations of the Loan Parties under the Loan Documents, in each case as
amended by this Amendment.
SECTION 4. Costs and Expenses The Borrower agrees to pay on demand all costs and
expenses of the Administrative Agent in connection with the preparation, execution, delivery and
administration, modification and amendment of this Amendment and the other instruments and
documents to be delivered hereunder (including, without limitation, the reasonable fees and
expenses of counsel for the Administrative Agent) in accordance with the terms of Section
11.04 of the Credit Agreement.
SECTION 5. Execution in Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which when so
executed shall be deemed to be an original and all of which taken together shall constitute but one
and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment
by telecopier shall be effective as delivery of a manually executed counterpart of this Amendment.
SECTION 6. Governing Law. This Amendment shall be governed by, and construed in
accordance with, the laws of the State of New York.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective officers thereunto duly authorized, as of the date first above written.
DEL MONTE CORPORATION |
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By | /s/ Xxxxx X. Xxxxxx | |||
Name: | Xxxxx X. Xxxxxx | |||
Title: Executive Vice President, Administration and Chief Financial Officer |
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DEL MONTE FOODS COMPANY |
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By | /s/ Xxxxx X. Xxxxxx | |||
Name: | Xxxxx X. Xxxxxx | |||
Title: Executive Vice President, Administration and Chief Financial Officer |
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BANK OF AMERICA, N.A., as Administrative Agent and as Lender |
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By | /s/ Xxxxxxx Xxxxxxx | |||
Title: Vice President | ||||
1ST FARM CREDIT SERVICES, PCA, as Lender |
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By: | /s/ Xxxx Xxxxxxxxxx | |||
Name: | Xxxx Xxxxxxxxxx | |||
Title: | VP, Illinois Capital Markets Group | |||
ABCLO 2007-1 LTD, as Lender By: Alliance Xxxxxxxxx X.X., as investment advisor |
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By: | /s/ Xxxxxxx X. Xxxx | |||
Name: | Xxxxxxx X. Xxxx | |||
Title: | Investment Officer | |||
AGFIRST FARM CREDIT BANK, as Lender |
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By: | /s/ Xxxxxx X. X’Xxxx | |||
Name: | Xxxxxx X. X’Xxxx | |||
Title: | Vice President | |||
AGSTAR FINANCIAL SERVICES, PCA, as Lender |
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By: | /s/ Xxxx Xxxxxxxx | |||
Name: | Xxxx Xxxxxxxx | |||
Title: | Vice President |
AIB DEBT MANAGEMENT, LIMITED, as Lender |
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By: | /s/ Xxxxxx X’Xxxxxxx | |||
Name: | Xxxxxx X’Xxxxxxx | |||
Title: | Vice President, Investment Advisor to AIB Debt Management Limited |
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By: | /s/ Xxxxx Xxxxxxxx | |||
Name: | Xxxxx Xxxxxxxx | |||
Title: | Assistant Vice President, Investment Advisor to AIB Debt Management Limited |
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ALLIED IRISH BANKS, P.L.C., as Lender |
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By: | /s/ Xxxxxx X’Xxxxxxx | |||
Name: | Xxxxxx X’Xxxxxxx | |||
Title: | Vice President, Investment Advisor to AIB Debt Management Limited |
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By: | /s/ Xxxxx Xxxxxxxx | |||
Name: | Xxxxx Xxxxxxxx | |||
Title: | Assistant Vice President, Investment Advisor to AIB Debt Management Limited |
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AMERICAN AGCREDIT, PCA, as Lender |
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By: | /s/ Xxxx Van Schuyver | |||
Name: | Xxxx Van Schuyver | |||
Title: | Vice President |
AMMC CLO VI, LIMITED, as Lender By: American Money Management Corp., as Collateral Manager |
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By: | /s/ Xxxxxxx X. Eng | |||
Name: | Xxxxxxx X. Eng | |||
Title: | Senior Vice President | |||
ARCHIMEDES FUNDING IV (CAYMAN), LTD., as Lender By: West Gate Horizons Advisors LLC, as Collateral Manager |
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By: | /s/ Xxxxxxxxxx Xxxx | |||
Name: | Xxxxxxxxxx Xxxx | |||
Title: | Senior Credit Analyst | |||
BADGERLAND FARM CREDIT SERVICES, ACA a/k/a BADGERLAND FCS, ACA, as Lender |
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By: | /s/ Xxxxxxx X. Xxx | |||
Name: | Xxxxxxx X. Xxx | |||
Title: | Vice President, Capital Markets | |||
BALLANTYNE FUNDING LLC, as Lender |
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By: | /s/ Xxxxxxxx Xxxxxx | |||
Name: | Xxxxxxxx Xxxxxx | |||
Title: | Vice President |
BANK OF HAWAII, as Lender |
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By: | /s/ Xxxxxx Xxxxxxxx | |||
Name: | Xxxxxx Xxxxxxxx | |||
Title: | Vice President | |||
BANK OF MONTREAL, as Lender By: HIM Monegy, Inc., as Agent |
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By: | /s/ Xxxxx Xxxxxxxx | |||
Name: | Xxxxx Xxxxxxxx | |||
Title: | Associate | |||
BANK OF NEW YORK, as Lender |
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By: | /s/ G. Xxxxx Xxxxxx | |||
Name: | G. Xxxxx Xxxxxx | |||
Title: | Senior Vice President | |||
THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, as Lender |
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By: | /s/ Xxxxx X. Xxxxxxxx | |||
Name: | Xxxxx X. Xxxxxxxx | |||
Title: | Vice President | |||
BARCLAYS BANK, PLC, as Lender |
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By: | /s/ Xxxxx Xxxxxxxx | |||
Name: | Xxxxxxxx Xxxxxxxx | |||
Title: | Head of U.S. Loan Trading |
BAYERISCHE LANDESBANK, NEW YORK BRANCH, as Lender |
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By: | /s/ Xxxxxxxxx Xxxxxxxxxx, CFA |
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Name: | Xxxxxxxx Xxxxxxxxxx, CFA | |||
Title: | Vice President | |||
By: | /s/ Xxxxxx Xxxxxxxx | |||
Name: | Xxxxxx Xxxxxxxx | |||
Title: | Senior Vice President | |||
BLACKROCK SENIOR INCOME SERIES, as Lender |
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By: | /s/ Xxxxxxx Xxxxxx | |||
Name: | Xxxxxxx Xxxxxx | |||
Title: | Director | |||
BLACKROCK SENIOR INCOME SERIES II, as Lender |
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By: | /s/ Xxxxxxx Xxxxxx | |||
Name: | Xxxxxxx Xxxxxx | |||
Title: | Director | |||
BLACKROCK SENIOR INCOME SERIES IV, as Lender |
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By: | /s/ Xxxxxxx Xxxxxx | |||
Name: | Xxxxxxx Xxxxxx | |||
Title: | Director |
BLACKROCK SENIOR INCOME SERIES V (F/K/A GRANITE FINANCE LIMITED), as Lender |
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By: | /s/ Xxxxxxx Xxxxxx | |||
Name: | Xxxxxxx Xxxxxx | |||
Title: | Director | |||
MAGNETITE V CLO, as Lender |
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By: | /s/ Xxxxxxx Xxxxxx | |||
Name: | Xxxxxxx Xxxxxx | |||
Title: | Director | |||
BNP PARIBAS, as Lender |
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By: | /s/ Xxxxxxxxx Xxxxx | |||
Name: | Xxxxxxxxx Xxxxx | |||
Title: | Managing Director | |||
By: | /s/ Xxxxx Xxxxxxx | |||
Name: | Xxxxx Xxxxxxx | |||
Title: | Vice President | |||
BOSTON HARBOR CLO 2004-1, as Lender |
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By: | /s/ Xxxx Xxxxx | |||
Name: | Xxxx Xxxxx | |||
Title: | Vice President | |||
CALYON, NEW YORK BRANCH, as Lender |
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By: | /s/ Xxxx Xxxxxxxxxx | |||
Name: | Xxxx Xxxxxxxxxx | |||
Title: | Director | |||
By: | /s/ Xxxxxx Xxxxxxx | |||
Name: | Xxxxxx Xxxxxxx | |||
Title: | Director | |||
CAPITAL FARM CREDIT, as Lender |
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By: | /s/ Xxxxxx X. Xxxxxx | |||
Name: | Xxxxxx X. Xxxxxx | |||
Title: | President Corporate Lending | |||
CAPITAL ONE LEVERAGE FINANCE CORPORATION, as Lender |
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By: | /s/ Xxx Xxxxxx | |||
Name: | Xxx Xxxxxx | |||
Title: | XX | |||
XXXXXXX HIGH YIELD PARTNERS IV, LTD., as Lender |
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By: | /s/ Xxxxx Xxxx | |||
Name: | Xxxxx Xxxx | |||
Title: | Managing Director | |||
CARLYLE HIGH YIELD PARTNERS VI, LTD., as Lender |
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By: | /s/ Xxxxx Xxxx | |||
Name: | Xxxxx Xxxx | |||
Title: | Managing Director | |||
CITIBANK, N.A., as Lender |
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By: | /s/ Xxxxxx Xxxx | |||
Name: | Xxxxxx Xxxx | |||
Title: | Attorney-in-Fact | |||
CITICORP USA INC, as Lender |
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By: | /s/ Xxxxxx Xxxxxx | |||
Name: | Xxxxxx Xxxxxx | |||
Title: | Managing Director | |||
COBANK, ACB, as Lender |
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By: | /s/ Xxxxxxx X. Norte | |||
Name: | Xxxxxxx X. Norte | |||
Title: | Vice President | |||
COMERICA WEST INCORPORATED, as Lender |
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By: | /s/ Xxxxx X. Clear | |||
Name: | Xxxxx X. Clear | |||
Title: | Assistant Vice President | |||
COMMERZBANK AG, NEW YORK AND GRAND CAYMAN BRANCHES, as Lender |
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By: | /s/ Christian Jagenberg | |||
Name: | Christian Jagenberg | |||
Title: | SVP and Manager | |||
By: | /s/ Xxxxxxx Xxxxxx | |||
Name: | Xxxxxxx Xxxxxx | |||
Title: | Assistant Treasurer | |||
CREDIT SUISSE INTERNATIONAL, as Lender |
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By: | /s/ Xxxxxxx Xxxxxxx | |||
Name: | Xxxxxxx Xxxxxxx | |||
Title: | Assistant Vice President | |||
DENALI CAPITAL CLO V, LTD., or an affiliate, as Lender By: Denali Capital LLC, managing member of DC Funding Partners LLC, its portfolio manager |
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By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Senior Vice President | |||
DENALI CAPITAL CLO VI, LTD., or an affiliate, as Lender By: Denali Capital LLC, managing member of DC Funding Partners LLC, its portfolio manager |
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By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Senior Vice President | |||
DENALI CAPITAL CLO VII, LTD., or an affiliate, as Lender By: Denali Capital LLC, managing member of DC Funding Partners LLC, its portfolio manager |
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By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Senior Vice President | |||
DEUTSCHE BANK AG NEW YORK BRANCH, as Lender By: DB Services New Jersey, Inc. |
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By: | /s/ Xxxxxx Xxxxxxxx | |||
Name: | Xxxxxx Xxxxxxxx | |||
Title: | Vice President | |||
By: | /s/ Xxxxxxx Xxxxxxx | |||
Name: | Xxxxxxx Xxxxxxx | |||
Title: | Assistant Vice President | |||
XXXXX XXXXX CDO VIII, LTD., as Lender By: Xxxxx Xxxxx Management, as Investment Advisor |
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By: | /s/ Xxxxxxx X. Xxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxx | |||
Title: | Vice President | |||
XXXXX XXXXX CDO IX, LTD., as Lender By: Xxxxx Xxxxx Management, as Investment Advisor |
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By: | /s/ Xxxxxxx X. Xxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxx | |||
Title: | Vice President | |||
XXXXX XXXXX INSTITUTIONAL SENIOR LOAN FUND, as Lender By: Xxxxx Xxxxx Management, as Investment Advisor |
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By: | /s/ Xxxxxxx X. Xxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxx | |||
Title: | Vice President | |||
ERSTE BANK DER OESTERREICHISCHEN SPARKASSEN AG, as Lender |
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By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Managing Director | |||
By: | /s/ Xxxxxx X. Xxxxxxxxx | |||
Name: | Xxxxxx X. Xxxxxxxxx | |||
Title: | First Vice President | |||
ESB BANK, as Lender |
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By: | /s/ Xxxx X. Xxxxxxxxx | |||
Name: | Xxxx X. Xxxxxxxxx | |||
Title: | Group Senior Vice President, Lending | |||
Fall Creek CLO, Ltd., as Lender |
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By: | /s/ Xxxxxxx Xxxxxx | |||
Name: | Xxxxxxx Xxxxxx | |||
Title: | Authorized Signatory | |||
FARM CREDIT BANK OF TEXAS, as Lender |
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By: | /s/ Xxxx X. X. Xxxxxxx | |||
Name: | Xxxx X. X. Xxxxxxx | |||
Title: | Managing Director Capital Markets | |||
FARM CREDIT SERVICES OF AMERICA, PCA, as Lender |
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By: | /s/ Xxxx Xxxxx | |||
Name: | Xxxx Xxxxx | |||
Title: | Vice President | |||
FARM CREDIT SERVICES OF MID-AMERICA, PCA, as Lender |
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By: | /s/ Xxxxx X. Xxxxxx | |||
Name: | Xxxxx X. Xxxxxx | |||
Title: | Vice President | |||
FARM CREDIT WEST, PCA, as Lender |
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By: | /s/ Ben Xxxxxxx | |||
Name: | Ben Xxxxxxx | |||
Title: | Vice President | |||
FCS FINANCIAL, PCA, f/k/a FARM CREDIT SERVICES OF MISSOURI, PCA, as Lender |
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By: | /s/ Xxxx Xxxxxxxxxxx | |||
Name: | Xxxx Xxxxxxxxxxx | |||
Title: | Senior Lending Officer |
FIDELITY ADVISOR SERIES II: FIDELITY ADVISOR FLOATING RATE HIGH INCOME FUND, PCA, as Lender |
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By: | /s/ Xxxx Xxxxxx | |||
Name: | Xxxx Xxxxxx | |||
Title: | Assistant Treasurer | |||
FIFTH THIRD BANK, as Lender |
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By: | /s/ Xxxx Xxxxxxxxx | |||
Name: | Xxxx Xxxxxxxxx | |||
Title: | Assistant Vice President | |||
FIRST NATIONAL BANK OF PENNSYLVANIA, as Lender |
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By: | /s/ Xxxx X. Xxxxxx | |||
Name: | Xxxx X. Xxxxxx | |||
Title: | Assistant Vice President | |||
FIRST PIONEER FARM CREDIT, ACA, as Lender |
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By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President |
FIRSTRUST BANK, as Lender |
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By: | /s/ Xxxxx Xxxxx | |||
Name: | Xxxxx Xxxxx | |||
Title: | Vice President | |||
FORTIS CAPITAL CORP., as Lender |
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By: | /s/ Xxxxxxx X. Xxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxx | |||
Title: | Director | |||
By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Director | |||
FRANKLIN CLO IV, LIMITED, as Lender |
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By: | /s/ Alex Xxxxx Xx | |||
Name: | Alex Xxxxx Xx | |||
Title: | Authorized Signatory | |||
FRANKLIN CLO V, LIMITED, as Lender |
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By: | /s/ Alex Xxxxx Xx | |||
Name: | Alex Xxxxx Xx | |||
Title: | Authorized Signatory |
FRANKLIN FLOATING RATE DAILY ACCESS FUND, as Lender |
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By: | /s/ Xxxxxxx Xxx | |||
Name: | Xxxxxxx Xxx | |||
Title: | Vice President | |||
FRANKLIN XXXXXXXXX SERIES II FUNDS FRANKLIN FLOATING RATE II FUND, as Lender |
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By: | /s/ Xxxxxxx Xxx | |||
Name: | Xxxxxxx Xxx | |||
Title: | Vice President | |||
FRESNO-MADERA PRODUCTION CREDIT ASSOCIATION, as Lender |
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By: | /s/ Xxxxxx X. Xxxxx | |||
Name: | Xxxxxx X. Xxxxx | |||
Title: | SVP and Chief Credit Officer | |||
GALAXY VI CLO, Ltd., as Lender By: AIG Global Investment Corp., its Collateral Manager |
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By: | /s/ W. Xxxxxxx Xxxxxx | |||
Name: | W. Xxxxxxx Xxxxxx | |||
Title: | Managing Director |
GALAXY VII CLO, Ltd., as Lender By: AIG Global Investment Corp., its Collateral Manager |
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By: | /s/ W. Xxxxxxx Xxxxxx | |||
Name: | W. Xxxxxxx Xxxxxx | |||
Title: | Managing Director | |||
GALAXY VIII CLO, Ltd., as Lender By: AIG Global Investment Corp., its Collateral Manager |
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By: | /s/ W. Xxxxxxx Xxxxxx | |||
Name: | W. Xxxxxxx Xxxxxx | |||
Title: | Managing Director | |||
GE CFS LOAN HOLDING 2006-2 LLC, as Lender By: GECC, as Administrator |
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By: | /s/ Xxxxxx Xxxxx | |||
Name: | Xxxxxx Xxxxx | |||
Title: | Duly Authorized Signatory | |||
GE CFS LOAN HOLDING 2006-3 LLC, as Lender By: GECC, as Administrator |
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By: | /s/ Xxxxxx Xxxxx | |||
Name: | Xxxxxx Xxxxx | |||
Title: | Duly Authorized Signatory |
GE COMMERCIAL LOAN HOLDING LLC, as Lender By: GECC, as Administrator |
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By: | /s/ Xxxxxx Xxxxx | |||
Name: | Xxxxxx Xxxxx | |||
Title: | Duly Authorized Signatory | |||
GENERAL ELECTRIC CAPITAL CORPORATION, as Lender |
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By: | /s/ Xxxxxx Xxxxx | |||
Name: | Xxxxxx Xxxxx | |||
Title: | Duly Authorized Signatory | |||
GENERAL ELECTRIC PENSION TRUST, as Lender By: GE Asset Management Inc., as Collateral Manager |
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By: | /s/ Xxxx Xxxxxx | |||
Name: | Xxxx Xxxxxx | |||
Title: | Authorized Signatory | |||
GENESIS CLO 2007-1 LTD., as Lender |
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By: | /s/ Xxxxxx X. Xxxx, Esq. | |||
Name: | Xxxxxx X. Xxxx, Esq. | |||
Title: | General Counsel, Orehill Partners LLC |
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XXXXXXX XXXXX CREDIT PARTNERS L.P., as Lender |
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By: | /s/ Xxxx Xxxxxxxx | |||
Name: | Xxxx Xxxxxxxx | |||
Title: | Authorized Signatory | |||
THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND, as Lender |
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By: | /s/ Xxxx XxXxxxxx, Xxxxxxx Xxxxxx | |||
Name: | Xxxx XxXxxxxx, Xxxxxxx Xxxxxx | |||
Title: | Authorized Signatories | |||
GREENSTONE FARM CREDIT SERVICES, ACA/FLCA, as Lender |
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By: | /s/ Xxxxxx X. Xxxxxxx, Xx. | |||
Name: | Xxxxxx X. Xxxxxxx, Xx. | |||
Title: | VP/Managing Director | |||
GUARANTY BANK, as Lender |
||||
By: | /s/ Xxxxxx Xxxxxxx | |||
Name: | Xxxxxx Xxxxxxx | |||
Title: | Vice President |
XXXXXX X.X. (successor by merger to Xxxxxx Trust and Saving Bank) as Co-Documentation Agent and as Lender |
||||
By: | /s/ Xxxxx Koonee | |||
Name: | Xxxxx Koonee | |||
Title: | Vice President | |||
ISRAEL DISCOUNT BANK OF NEW YORK, as Lender |
||||
By: | /s/ Xxxxxx Xxxxxxxx | |||
Name: | Xxxxxx Xxxxxxxx | |||
Title: | S.V.P. | |||
By: | /s/ Xxxxxxx X. Xxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxx | |||
Title: | X.X. | |||
XXXXXXX NATIONAL LIFE INSURANCE COMPANY, as Lender By: PPM America Inc., as Attorney-in-fact |
||||
By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Assistant Vice President |
JERSEY STREET CLO, LTD., as Lender By: Massachusetts Financial Services Company (JLX), its Collateral Manager |
||||
By: | /s/ Xxxxx Xxxxx | |||
Name: | Xxxxx Xxxxx | |||
Title: | Investment Officer | |||
XX XXXXXX XXXXX BANK, N.A., as Lender |
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By: | /s/ Xxxx Xxxx | |||
Name: | Xxxx Xxxx | |||
Title: | Vice President | |||
KATONAH X CLO LTD., as Lender |
||||
By: | /s/ Xxxxxx Xxxxxxxx | |||
Name: | Xxxxxx Xxxxxxxx | |||
Title: | Authorized Officer, Katonah Debt Advisors, L.L.C. as Manager |
|||
KBC BANK, N.V., as Lender |
||||
By: | /s/ Xxxxxxx Xxxxxxxxx | |||
Name: | Xxxxxxx Xxxxxxxxx | |||
Title: | Vice President | |||
By: | /s/ Xxxxxx X. Xxxxxxx | |||
Name: | Xxxxxx X. Xxxxxxx | |||
Title: | First Vice President |
KC CLO II PLC, as Lender |
||||
By: | /s/ Xxxxxxx Xxxxxxx | |||
Name: | Xxxxxxx Xxxxxxx | |||
Title: | Assistant Vice President | |||
KEYSTONE NAZARETH BANK & TRUST COMPANY, a division of NATIONAL PENN BANK, as Lender |
||||
By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President | |||
XXXXXX COMMERCIAL PAPER INC., as Lender |
||||
By: | /s/ Xxxxxx Xxxxxx | |||
Name: | Xxxxxx Xxxxxx | |||
Title: | Authorized Signatory | |||
MARLBOROUGH STREET CLO, LTD., as Lender By: Massachusetts, Financial Services Company (MLX) |
||||
By: | /s/ Xxxxx Xxxxx | |||
Name: | Xxxxx Xxxxx | |||
Title: | Investment Officer |
MB FINANCIAL BANK, N.A. (f/n/a OAK BROOK BANK) as Lender |
||||
By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Vice President | |||
MIZUHO CORPORATE BANK, LTD., as Lender |
||||
By: | /s/ Xxxxxx Xxxxxxxxx | |||
Name: | Xxxxxx Xxxxxxxxx | |||
Title: | Authorized Signatory | |||
XXXXXX XXXXXXX SENIOR FUNDING, INC, as Lender |
||||
By: | /s/ Xxxxxx Xxxx | |||
Name: | Xxxxxx Xxxx | |||
Title: | Vice President | |||
NATIONAL CITY BANK, as Lender |
||||
By: | /s/ Xxx Xxxxxxx | |||
Name: | Xxx Xxxxxxx | |||
Title: | Vice President |
NATIXIS, as Lender |
||||
By: | /s/ Christian Paragot-Rieutort | |||
Name: | Christian Paragot-Rieutort | |||
Title: | Associate Director | |||
By: | /s/ Xxxxx X. Xxxxxx, Xx. | |||
Name: | Xxxxx X. Xxxxxx, Xx. | |||
Title: | Managing Director | |||
NEW YORK LIFE INSURANCE COMPANY, as Lender |
||||
By: | /s/ Xxxxxxxxx Xxxxxxxxxxx | |||
Name: | Xxxxxxxxx Xxxxxxxxxxx | |||
Title: | Corporate Vice President | |||
NYLIM INSTITUTIONAL FLOATING RATE FUND L.P., as Lender By: New York Life Investment Management LLC, its Investment Manager |
||||
By: | /s/ Xxxxxxxxx Xxxxxxxxxxx | |||
Name: | Xxxxxxxxx Xxxxxxxxxxx | |||
Title: | Vice President | |||
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION, as Lender By: New York Life Investment Management LLC, its Investment Manager |
||||
By: | /s/ Xxxxxxxxx Xxxxxxxxxxx | |||
Name: | Xxxxxxxxx Xxxxxxxxxxx | |||
Title: | Vice President | |||
MAINSTAY FLOATING RATE FUND, a series of ECLIPSE FUNDS, INC., as Lender By: New York Life Investment Management LLC, its Investment Manager |
||||
By: | /s/ Xxxxxxxxx Xxxxxxxxxxx | |||
Name: | Xxxxxxxxx Xxxxxxxxxxx | |||
Title: | Vice President | |||
MAINSTAY VP FLOATING RATE PORTFOLIO, a series of MAINSTAY VP SERIES FUND, INC., as Lender By: New York Life Investment Management LLC, its Investment Manager |
||||
By: | /s/ Xxxxxxxxx Xxxxxxxxxxx | |||
Name: | Xxxxxxxxx Xxxxxxxxxxx | |||
Title: | Vice President | |||
THE NORINCHUKIN BANK, NEW YORK BRANCH, as Lender |
||||
By: | /s/ Xxxxxxxxx Xxxx | |||
Name: | Xxxxxxxxx Xxxx | |||
Title: | General Manager | |||
THE NORINCHUKIN BANK, NEW YORK BRANCH through State Street Bank and Trust Company N.A. as Fiduciary Custodian, as Lender By: Xxxxxx Xxxxx Management, Attorney-in-fact |
||||
By: | /s/ Xxxxxxx X. Xxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxx | |||
Title: | Vice President | |||
NORTHWEST FARM CREDIT SERVICES, PCA, as Lender |
||||
By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Account Manager | |||
PARK AVENUE LOAN TRUST, as Lender By: TCW Advisors as its Portfolio Manager |
||||
By: | /s/ Xxxxx X. Xxxxxxx | |||
Name: | Xxxxx X. Xxxxxxx | |||
Title: | Vice President | |||
By: | /s/ Xxx Xxxxxxxxx | |||
Name: | Xxx Xxxxxxxxx | |||
Title: | Senior Vice President | |||
PB CAPITAL CORPORATION, as Lender |
||||
By: | /s/ Xxxxx X. Xxxxxxx | |||
Name: | Xxxxx X. Xxxxxxx | |||
Title: | Vice President | |||
By: | /s/ Xxxxxxxxx X. Xxxxxxxx | |||
Name: | Xxxxxxxxx X. Xxxxxxxx | |||
Title: | Assistant Vice President | |||
PEOPLE’S UNITED BANK, as Lender |
||||
By: | /s/ Xxxxx X. Xxxxxxxx | |||
Name: | Xxxxx X. Xxxxxxxx | |||
Title: | First Vice President | |||
PNC BANK, NATIONAL ASSOCIATION, as
Lender |
||||
By: | /s/ Xxxxxxx X. X. Xxxxxxx | |||
Name: | Xxxxxxx X.X. Xxxxxxx | |||
Title: | Vice President | |||
XXXXXX BANK LOAN FUND (CAYMAN) MASTER FUND, a series of the XXXXXX OFFSHORE MASTER SERIES TRUST, as Lender By: The Xxxxxx Advisory Company, LLC |
||||
By: | /s/ Xxxxxx Xxxxx | |||
Name: | Xxxxxx Xxxxx | |||
Title: | Vice President | |||
XXXXXX FLOATING RATE INCOME FUND, as Lender |
||||
By: | /s/ Xxxx Xxxxx | |||
Name: | Xxxx Xxxxx | |||
Title: | Vice President | |||
RABOBANK, NEW YORK BRANCH (COOPERATIEVE CENTRALE RAIFFEISEN- BOERENLEENBANK B.A.), as Lender |
||||
By: | /s/ Xxxxx Xxx | |||
Name: | Xxxxx Xxx | |||
Title: | Vice President | |||
By: | /s/ Xxxxxxx X. Xxxxxx | |||
Name: | Xxxxxxx X. Xxxxxx | |||
Title: | Executive Director | |||
RZB FINANCE LLC, as Lender |
||||
By: | /s/ Xxxx X. Xxxxxxx | |||
Name: | Xxxx X. Xxxxxxx | |||
Title: | First Vice President | |||
By: | /s/ Xxxxxxx Xxxxx | |||
Name: | Xxxxxxx Xxxxx | |||
Title: | Assistant Vice President | |||
SOVEREIGN BANK, as Lender |
||||
By: | /s/ Xxxx Xxxxxx | |||
Name: | Xxxx Xxxxxx | |||
Title: | Senior Vice President | |||
SUMITOMO MITSUI BANKING CORPORATION, as Lender |
||||
By: | /s/ Xxxxx X. Xxxx | |||
Name: | Xxxxx X. Xxxx | |||
Title: | Senior Vice President | |||
THE SUMITOMO TRUST AND BANKING CO., LTD., NEW YORK BRANCH, as Lender |
||||
By: | /s/ Xxxxxxxxx X. Xxxxx | |||
Name: | Xxxxxxxxx X. Xxxxx | |||
Title: | Vice President | |||
SUNAMERICA LIFE INSURANCE COMPANY, as Lender By: AIG Global Investment Corp., Inc, its Investment Advisor |
||||
By: | /s/ W. Xxxxxxx Xxxxxx | |||
Name: | W. Xxxxxxx Xxxxxx | |||
Title: | Managing Director | |||
SUNTRUST BANK, as Lender |
||||
By: | /s/ M. Xxxx Xxxxxxxx | |||
Name: | M. Xxxx Xxxxxxxx | |||
Title: | Vice President | |||
UBS AG, STAMFORD BRANCH, as Lender |
||||
By: | /s/ Xxxxxxxx Xxxxxxx | |||
Name: | Xxxxxxxx Xxxxxxx | |||
Title: | Associate Director, Banking Products
Services, US |
|||
By: | /s/ Xxxxx Xxxxx | |||
Name: | Xxxxx Xxxxx | |||
Title: | Associate Director, Banking Products Services, US | |||
UNION BANK OF CALIFORNIA, N.A., as Lender |
||||
By: | /s/ Xxxxxxx Xxxxx | |||
Name: | Xxxxxxx Xxxxx | |||
Title: | Assistant Vice President | |||
UNITED FCS, PCA (f/k/a FARM CREDIT SERVICES OF MINNESOTA VALLEY, PCA) d/b/a FCS COMMERCIAL FINANCE GROUP, as Lender |
||||
By: | /s/ M. Xxxx Xxxxxxx | |||
Name: | Xxxx Xxxxxxx | |||
Title: | Assistant Vice President | |||
UNITED OVERSEAS BANK LIMITED, NEW YORK, as Lender |
||||
By: | /s/ Xxxxxx Xxx | |||
Name: | Xxxxxx Xxx | |||
Title: | SVP & GM | |||
By: | /s/ Xxxxx Xxxxx | |||
Name: | Xxxxx Xxxxx | |||
Title: | AVP | |||
U.S. AGBANK, FCB, as Disclosed Agent |
||||
By: | /s/ Xxxx X. Xxxxxxxxxxx | |||
Name: | Xxxx X. Xxxxxxxxxxx | |||
Title: | Vice President | |||
U.S. BANK NATIONAL ASSOCIATION, as Lender |
||||
By: | /s/ Xxxxx X. Xxxxxx | |||
Name: | Xxxxx X. Xxxxxx | |||
Title: | Vice President | |||
VERITAS CLO I, LTD, as Lender |
||||
By: | /s/ Xxxx X. Xxxxxxxx | |||
Name: | Xxxx X. Xxxxxxxx | |||
Title: | Attorney-in-Fact | |||
VERITAS CLO II, LTD, as Lender |
||||
By: | /s/ Xxxx X. Xxxxxxxx | |||
Name: | Xxxx X. Xxxxxxxx | |||
Title: | Attorney-in-Fact | |||
VITESSE CLO LTD., as Lender By: TCW Advisors as its Portfolio Manager |
||||
By: | /s/ Xxxxx X. Xxxxxxx | |||
Name: | Xxxxx X. Xxxxxxx | |||
Title: | Vice President | |||
By: | /s/ Xxx Xxxxxxxxx | |||
Name: | Xxx Xxxxxxxxx | |||
Title: | Senior Vice President | |||
WACHOVIA BANK, NATIONAL ASSOCIATION, as Lender |
||||
By: | /s/ Xxxx Xxx | |||
Name: | Xxxx Xxx | |||
Title: | Vice President | |||
XXXXX FARGO BANK N.A., as Lender |
||||
By: | /s/ Xxxxxxxxx Xxxxxxxxx | |||
Name: | Xxxxxxxxx Xxxxxxxxx | |||
Title: | Senior Vice President | |||
WESTLB AG, NEW YORK BRANCH, as Lender |
||||
By: | /s/ Xxxxxx Xxxxxx | |||
Name: | Xxxxxx Xxxxxx | |||
Title: | Director | |||
By: | /s/ Xxxxxxx XxXxxxx | |||
Name: | Xxxxxxx XxXxxxx | |||
Title: | Manager | |||
WILLOW FINANCIAL BANK, as Lender |
||||
By: | /s/ Xxxx X. Xxxxxxxxx | |||
Name: | Xxxx X. Xxxxxxxxx | |||
Title: | Vice President | |||
YORKVILLE CBNA LOAN FUNDING LLC, for itself or as agent for YORKVILLE CFPI LOAN FUNDING LLC, as Lender |
||||
By: | /s/ Xxxxxxx Xxxxxx | |||
Name: | Xxxxxxx Xxxxxx | |||
Title: | Attorney-in-Fact | |||
CONSENT
Dated as of April 25, 2008
Each of the undersigned, (a) as Guarantor under (i) in the case of each of the undersigned
other than Del Monte Food Company (“Holdings”), the Subsidiary Guaranty dated February 8, 2005 (as
amended, the “Subsidiary Guaranty”) and (i) in the case of Holdings, the Guaranty made by Holdings
under Article X of the Credit Agreement (as defined below) (the “DMFC Guaranty”), in each
case, in favor of the Secured Parties referred to in the Credit Agreement referred to in the
foregoing Amendment (the “Credit Agreement”) and (b) as Grantor under the Security Agreement dated
February 8, 2005 (as amended through the date hereof, the “Security Agreement”) to Bank of America,
N.A. as Collateral Agent for such Secured Parties, hereby consents to such Amendment and hereby
confirms and agrees that (A) notwithstanding the effectiveness of such Amendment, each of (1) in
the case of each of the undersigned other than Holdings, the Subsidiary Guaranty and (2) in the
case of Holdings, the DMFC Guaranty is, and shall continue to be, in full force and effect and is
hereby ratified and confirmed in all respects, except that, on and after the effectiveness of such
Amendment, each reference in the Subsidiary Guaranty, the DMFC Guaranty or the Security Agreement
to the “Credit Agreement”, “thereunder”, “thereof” or words of like import shall mean and be a
reference to the Credit Agreement, as amended by such Amendment and (B) the Collateral Documents to
which each of the undersigned is a party and all of the Collateral described therein do, and shall
continue to, secure the payment of all of the Secured Obligations. Capitalized terms used herein
and not otherwise defined shall have the meanings assigned to such terms in the Credit Agreement.
DEL MONTE FOODS COMPANY |
||||
By: | /s/ Xxxxx X. Xxxxxx | |||
Name: | Xxxxx X. Xxxxxx | |||
Title: Executive Vice President, Administration and Chief Financial Officer |
||||
STAR-XXXX SAMOA, INC. |
||||
By: | /s/ Xxxxx X. Xxxxxx | |||
Name: Xxxxx X. Xxxxxx | ||||
Title: President | ||||
MARINE TRADING PACIFIC, INC. |
||||
By: | /s/ Xxxxx X. Xxxxxx | |||
Name: Xxxxx X. Xxxxxx | ||||
Title: President | ||||
THE MEOW MIX COMPANY, LLC By: Del Monte Corporation, its sole member |
||||
By: | /s/ Xxxxx X. Xxxxxx | |||
Name: | Xxxxx X. Xxxxxx | |||
Title: Executive Vice President, Administration and Chief Financial Officer |
||||
MEOW MIX DECATUR PRODUCTION I, LLC By: Del Monte Corporation, its sole member |
||||
By: | /s/ Xxxxx X. Xxxxxx | |||
Name: | Xxxxx X. Xxxxxx | |||
Title: Executive Vice President, Administration and Chief Financial Officer |
||||