FIRST AMENDMENT TO CREDIT AGREEMENT
Exhibit 10.1
FIRST AMENDMENT TO CREDIT AGREEMENT
THIS FIRST AMENDMENT TO CREDIT AGREEMENT, dated as of June 16, 2006 (the “Amendment”), is
entered into among (i) XXXXXX CORPORATION, a Delaware corporation (the “Company”), and the
Designated Subsidiaries of the Company that are parties thereto (together with the Company, the
“Borrowers”), (ii) the undersigned financial institutions, and (iii) BANK OF AMERICA, NATIONAL
ASSOCIATION (“Bank of America”), as administrative agent (the “Administrative Agent”) for the
Lenders and as L/C Issuer.
R E C I T A L S:
1) The Borrowers, various financial institutions (the “Lenders”), the Administrative Agent and
the L/C Issuer entered into a Credit Agreement, dated as of September 29, 2005 (the “Credit
Agreement”).
2) The Borrowers have requested that the Lenders and the Administrative Agent enter into this
Amendment in order to make certain amendments to the Credit Agreement as provided herein.
3) Capitalized terms used herein and not otherwise defined shall have the meanings provided
for in the Credit Agreement.
4) In consideration of the mutual agreements contained herein the parties hereto agree as
follows:
1. | AMENDMENT |
Upon satisfaction of the conditions set forth in Section 2 hereof, the Credit Agreement is
amended as follows:
1.1 Section 1.1 of the Credit Agreement is hereby amended by adding the following definitions
of “ADC” and “ADC Merger Transaction” in appropriate alphabetical order:
“ADC” means ADC Telecommunications, Inc., a Minnesota corporation.
“ADC Merger Transaction” means the proposed stock-for-stock merger transaction
between ADC and the Company as announced in the May 31, 2006 press release by ADC
and the Company.”
1.2 Section 1.1 of the Credit Agreement is hereby amended by restating paragraph (c) of the
definition of Change of Control to read as follows:
“(c) any Person or two or more Persons acting in concert shall have acquired by
contract or otherwise, or shall have entered into a contract or arrangement that,
upon consummation thereof, will result in its or their acquisition of the power to
exercise, directly or indirectly, a controlling influence over the management or
policies of the Company, or control over the equity securities of the Company
entitled to vote for members of the board of directors or equivalent governing body
of the Company on a fully-diluted basis (and taking into account all such securities
that such Person or group has the right to acquire pursuant to any option right)
representing 30% or more of the combined voting power of such securities;
provided, however, that any contract or arrangement entered into between
ADC and the Company in furtherance of the ADC Merger Transaction will not be taken
into account for purposes of this paragraph (c) until the earlier to occur of (a)
the date of the consummation of the ADC Merger Transaction or (b) March 31, 2007 if,
prior to such date all such contracts and arrangements have not been terminated in a
manner reasonably satisfactory to the Administrative Agent.”
1.3 Section 1.1 of the Credit Agreement is hereby amended by restating the definition of
“Maturity Date” contained therein in its entirety to read as follows:
“Maturity Date” means the earlier of (i) September 29, 2010, or (ii) the date
of the consummation of the ADC Merger Transaction.”
2. | CONDITIONS PRECEDENT |
This Amendment shall become effective at such time as the Administrative Agent has received
counterparts of this Amendment executed by the Borrowers and the Required Lenders and the
Administrative Agent.
3. | WAIVER |
The Administrative Agent and the Lenders hereby waive any Event of Default occurring due to a
Change of Control resulting from any contract or arrangement entered into by the Company and ADC in
furtherance of the ADC Merger Transaction prior to the effective date of this Amendment. The
foregoing waiver shall expire on the earlier to occur of (a) the date of the consummation of the
ADC Merger Transaction or (b) March 31, 2007 unless, prior to such date all such contracts and
arrangements have been terminated in a manner reasonably satisfactory to the Administrative Agent.
4. | EXPENSES |
The Company shall pay, promptly upon receipt of a reasonably detailed invoice therefor, all
reasonable attorneys’ fees and out-of-pocket costs of the Administrative Agent in connection with
this Amendment.
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5. | MISCELLANEOUS |
5.1 Limited Nature of Amendments. The parties hereto acknowledge and agree that the
terms and provisions of this Amendment amend, add to and constitute a part of the Credit Agreement.
Except as expressly modified and amended by the terms of this Amendment, all of the other terms
and conditions of the Credit Agreement and all documents executed in connection therewith or
referred to or incorporated therein remain in full force and effect and are hereby ratified,
reaffirmed, confirmed and approved.
5.2 Conflict. If there is an express conflict between the terms of this Amendment and
the terms of the Credit Agreement, or any of the other agreements or documents executed in
connection therewith or referred to or incorporated therein, the terms of this Amendment shall
govern and control.
5.3 Counterparts. This Amendment may be executed in one or more counterparts, each of
which shall be deemed to be an original. Receipt by the Administrative Agent from a Lender of an
executed signature page hereto by facsimile or e-mail shall be effective as receipt of an original
manually executed counterpart.
5.4 Representations and Warranties. The Company represents and warrants to the
Administrative Agent and the Lenders as follows: (A) the Company and each Designated Subsidiary has
all necessary power and authority to execute and deliver this Amendment and perform its obligations
hereunder; (B) this Amendment and the Credit Agreement, as amended hereby, constitute the legal,
valid and binding obligations of the Company and each Designated Subsidiary and are enforceable
against the Company and each Designated Subsidiary in accordance with their terms; and (C) all
representations and warranties of the Company contained in the Credit Agreement and all other
agreements, instruments and other writings relating thereto are true and complete as of the date
hereof, except to the extent that such representations and warranties specifically refer to an
earlier date, in which case they were true and correct as of such earlier date.
5.5 Governing Law. This Amendment shall be construed in accordance with and governed
by and the internal laws of the State of Illinois, without giving effect to choice of law
principles.
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective officers thereunto duly authorized as of the day and year first above written.
XXXXXX CORPORATION | ||||
By: | /s/ Xxx Xxxxxxxx | |||
Name: | Xxx Xxxxxxxx | |||
Title: | Vice President, Tax and Treasury | |||
DESIGNATED SUBSIDIARIES: | ||||
XXXXXX AG | ||||
By: | /s/ Xxxx X. Xxxxx | |||
Name: | Xxxx X. Xxxxx | |||
Title: | Chairman | |||
XXXXXX TELECOMMUNICATIONS PRODUCTS SRL | ||||
By: | /s/ Xxxxx X. Xxxxxxx | |||
Name: | Xxxxx X. Xxxxxxx | |||
Title: | Director | |||
MIKOM-GMBH MIKROTECHNIK ZUR KOMMUNIKATION | ||||
By: | /s/ Xxxxx X. Xxxxxxx | |||
Name: | Xxxxx X. Xxxxxxx | |||
Title: | Managing Director | |||
XXXXXX HOLDINGS (GERMANY) GmbH | ||||
By: | /s/ Xxxxx X. Xxxxxxx | |||
Name: | Xxxxx X. Xxxxxxx | |||
Title: | Managing Director |
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BANK OF AMERICA, N.A., as Administrative Agent | ||||
By: | /s/ Xxxxxxx X. Xxxx | |||
Name: | Xxxxxxx X. Xxxx | |||
Title: | Vice President |
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LENDERS | ||||
BANK OF AMERICA, N.A., as a Lender, L/C Issuer, Swing Line Lender and Foreign Swing Line Lender | ||||
By: | /s/ Xxxxx X. XxXxxxx | |||
Name: | Xxxxx X. XxXxxxx | |||
Title: | Senior Vice President |
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CITICORP NORTH AMERICA, INC., as a Lender and Syndication Agent | ||||
By: | /s/ Xxxx Xxxxxxxx | |||
Name: | Xxxx Xxxxxxxx | |||
Title: | Vice President |
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FIFTH THIRD BANK (CHICAGO), as Co-Documentation Agent and Lender | ||||
By: | ||||
Name: | ||||
Title: | ||||
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XXXXXX X.X., as Co-Documentation Agent and Lender | ||||
By: | /s/ Xxxxxxx Xxxxxxxxxxx | |||
Name: | Xxxxxxx Xxxxxxxxxxx | |||
Title: | Vice President |
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U.S. BANK NATIONAL ASSOCIATION, as Co-Documentation Agent and Lender | ||||
By: | /s/ R. Xxxxxxx Xxxxxx | |||
Name: | R. Xxxxxxx Xxxxxx | |||
Title: | Vice President |
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XXXXX FARGO BANK, N.A., as Co-Documentation Agent and Lender | ||||
By: | /s/ Xxxxxxx X. Xxxxxx | |||
Name: | Xxxxxxx X. Xxxxxx | |||
Title: | Assistant Vice President |
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THE BANK OF TOKYO-MITSUBISHI, LTD., CHICAGO BRANCH, as a Lender | ||||
By: | /s/ Tsuguyuki Yumene | |||
Name: | Tsuguyuki Yumene | |||
Title: | Deputy General Manager |
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JPMORGAN CHASE BANK, N.A., as a Lender | ||||
By: | ||||
Name: | ||||
Title: | ||||
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MIZUHO CORPORATE BANK, LTD., as a Lender | ||||
By: | /s/ Xxxxxxx Xxxx | |||
Name: | Xxxxxxx Xxxx | |||
Title: | Senior Vice President and Team Leader |
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XXXXX XXXXXXXXX XXX XXXXXX XXX, XXX XXXX BRANCH, as a Lender | ||||
By: | ||||
Name: | ||||
Title: | ||||
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XXX XXXX XX XXX XXXX, as a Lender | ||||
By: | /s/ Xxxxxx X. Xxxxxxx | |||
Name: | Xxxxxx X. Xxxxxxx | |||
Title: | Vice President |
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XXXXXX XXXXXXX BANK, as a Lender | ||||
By: | /s/ Xxxxxx Xxxxxx | |||
Name: | Xxxxxx Xxxxxx | |||
Title: | Vice President |
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NATIONAL CITY BANK OF THE MIDWEST, as a Lender | ||||
By: | /s/ Xxxxxxxxx X. Xxxxx | |||
Name: | Xxxxxxxxx X. Xxxxx | |||
Title: | Vice President |
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THE NORTHERN TRUST COMPANY, as a Lender | ||||
By: | /s/ Xxxxx XxXxxx | |||
Name: | Xxxxx XxXxxx | |||
Title: | Vice President |
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