Exhibit 10.2
SECOND AMENDMENT TO 364-DAY CREDIT AGREEMENT
THIS SECOND AMENDMENT TO 364-DAY CREDIT AGREEMENT dated as of February
4, 2009 (this "Amendment"), is entered into among XXXXXX NORTH AMERICA INC., a
Delaware corporation (the "Borrower"), XXXXXX GROUP HOLDINGS LIMITED, an
exempted company under the Companies Xxx 0000 of Bermuda (the "Parent"), the
other Guarantors identified on the signature pages hereto, the Lenders
identified on the signature pages hereto and BANK OF AMERICA, N.A., as
Administrative Agent (in such capacity, the "Administrative Agent"). Capitalized
terms used herein and not otherwise defined shall have the meanings ascribed
thereto in the Credit Agreement.
RECITALS
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A. The Borrower, the Parent, the Lenders and the Administrative
Agent entered into that certain 364-Day Credit Agreement dated as of October 1,
2008 (as amended and modified from time to time, the "Credit Agreement").
B. The parties hereto have agreed to amend the Credit Agreement
as provided herein.
C. In consideration of the agreements hereinafter set forth, and
for other good and valuable consideration, the receipt and adequacy of which are
hereby acknowledged, the parties hereto agree as follows.
AGREEMENT
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1. Amendments.
(a) Section 1.01 of the Credit Agreement is amended by
inserting the following new definition among the existing definitions
set forth in such section in the appropriate alphabetical order:
"Refinanced Principal Payment" means, for any period,
a scheduled payment of principal of any senior unsecured
Indebtedness of the Parent or any of its Subsidiaries to the
extent such payment was made with, and substantially
concurrently with the receipt of, proceeds of either (a)
issuance of Equity Interests of the Parent or any Subsidiary,
or (b) unsecured Indebtedness of the Parent or any Subsidiary,
or a combination thereof, issued to or obtained, as
applicable, from a Person other than the Parent or one of its
Subsidiaries or Affiliates in a transaction permitted
hereunder and provided that in the case of clause (b) above,
the principal of such unsecured Indebtedness is not required
to be paid, whether by way of mandatory sinking fund,
mandatory redemption or mandatory prepayment, prior to the
date which is six months after the Maturity Date.
(b) The definition of "Consolidated Fixed Charges" in Section
1.01 of the Credit Agreement is amended and restated in its entirety to
read as follows:
"Consolidated Fixed Charges" means, for any period,
for the Parent and its Subsidiaries on a consolidated basis,
the sum of (a) Consolidated Interest Charges for such period,
plus (b) all payments of principal on Indebtedness of the
Parent and its Subsidiaries (other than any Refinanced
Principal Payment) scheduled to be made in cash during such
period (whether or not so made, and expressly excluding any
voluntary, unscheduled prepayments or repayments thereof made
prior to the first day of the fiscal quarter in which such
principal payment is scheduled to be made).
2. Effectiveness; Conditions Precedent. This Amendment shall be
effective as of the date hereof (the "Amendment Effective Date") upon (a)
receipt by the Administrative Agent of copies of this Amendment duly executed by
the Borrower, the Guarantors and the Required Lenders and (b) payment of all
fees and expenses required to be paid pursuant to any Loan Document on or before
the date hereof by any Loan Party.
3. Ratification of Loan Documents. Each Loan Party acknowledges
and consents to the terms set forth herein and agrees that this Amendment does
not impair, reduce or limit any of its obligations under the Loan Documents (as
amended hereby).
4. Authority/Enforceability. Each Loan Party represents and
warrants to the Administrative Agent and the Lenders that:
(a) It has taken all necessary action to authorize the
execution, delivery and performance of this Amendment.
(b) This Amendment has been duly executed and delivered by
such Person and constitutes such Person's legal, valid and binding
obligations, enforceable in accordance with its terms, subject to
applicable bankruptcy, insolvency, reorganization, moratorium or other
laws affecting creditors' rights generally and subject to general
principles of equity, regardless of whether considered in a proceeding
in equity or at law.
(c) No consent or approval of, registration or filing with, or
any other action by, any Governmental Authority, except such as have
been obtained or made and are in full force and effect, is required in
connection with the execution, delivery or performance by such Person
of this Amendment.
(d) The execution and delivery of this Amendment does not (i)
violate, contravene or conflict with any provision of its, or its
Subsidiaries' Organization Documents or (ii) materially violate,
contravene or conflict with any Laws applicable to it or any of its
Subsidiaries.
5. Representations and Warranties of the Loan Parties. Each Loan
Party represents and warrants that after giving effect to this Amendment (a) the
representations and warranties of (i) the Parent and the Borrower contained in
Article V of the Credit Agreement and (ii) each Loan Party contained in each
other Loan Document or in any document furnished at any time under or in
connection herewith or therewith, shall be true and correct in all material
respects (or, if such representation or warranty is itself modified by
materiality or Material Adverse Effect, it shall be true and correct in all
respects) as of the date hereof, except (A) to the extent that such
representations and warranties specifically refer to an earlier date, in which
case they shall be true and correct as of such earlier date and (B) the making
of the representation and warranty contained in Section 5.04(b) of the Credit
Agreement and (b) no event has occurred and is continuing which constitutes a
Default or an Event of Default.
6. Counterparts/Telecopy. This Amendment may be executed in any
number of counterparts, each of which when so executed and delivered shall be an
original, but all of which shall constitute one and the same instrument.
Delivery of executed counterparts of this Amendment by telecopy or electronic
mail shall be effective as an original.
7. Reference to the Effect of the Credit Agreement.
(a) As of the Amendment Effective Date, each reference in the
Credit Agreement to "this Agreement," "hereunder," "hereof," "herein," or words
of like import, shall mean and be a reference to the Credit Agreement as
modified hereby, and this Amendment and the Credit Agreement shall be read
together and construed as a single instrument. This Amendment shall constitute a
Loan Document.
(b) Except as expressly amended hereby, all of the terms and
provisions of the Credit Agreement are and shall remain in full force and effect
and are hereby ratified and confirmed.
(c) The execution, delivery and effectiveness of this
Amendment shall not, except as expressly provided herein, operate as a waiver of
any right, power or remedy of the Lenders, the Administrative Agent under the
Credit Agreement, nor constitute a waiver or amendment of any other provision of
the Credit Agreement or for any purpose except as expressly set forth herein.
8. GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS
OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. THE PROVISIONS OF SECTIONS
10.14 AND 10.15 OF THE CREDIT AGREEMENT ARE INCORPORATED BY REFERENCE, MUTATIS
MUTANDIS, AS IF FULLY SET FORTH HEREIN.
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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.
BORROWER: XXXXXX NORTH AMERICA INC.
By: ____________________________________________
Name: __________________________________________
Title:___________________________________________
GUARANTORS: XXXXXX GROUP HOLDINGS LIMITED
By: ____________________________________________
Name: __________________________________________
Title:___________________________________________
TA I LIMITED
By: ____________________________________________
Name: __________________________________________
Title:___________________________________________
XX XX LIMITED
By: ____________________________________________
Name: __________________________________________
Title:___________________________________________
TA III LIMITED
By: ____________________________________________
Name: __________________________________________
Title:___________________________________________
XX XX LIMITED
By: ____________________________________________
Name: __________________________________________
Title:___________________________________________
TRINITY ACQUISITION LIMITED
By: ____________________________________________
Name: __________________________________________
Title:___________________________________________
XXXXXX GROUP LIMITED
By: ____________________________________________
Name: __________________________________________
Title:___________________________________________
XXXXXX INVESTMENT UK HOLDINGS LIMITED
By: ____________________________________________
Name: __________________________________________
Title:___________________________________________
ADMINISTRATIVE
AGENT: BANK OF AMERICA, N.A.,
By: ____________________________________________
Name: __________________________________________
Title:___________________________________________
LENDERS: BANK OF AMERICA, N.A.
By: ____________________________________________
Name: __________________________________________
Title:___________________________________________
JPMORGAN CHASE BANK, N.A.
By: ____________________________________________
Name: __________________________________________
Title:___________________________________________
SUNTRUST BANK
By: ____________________________________________
Name: __________________________________________
Title:___________________________________________
THE ROYAL BANK OF SCOTLAND PLC
By: ____________________________________________
Name: __________________________________________
Title:___________________________________________
