FIFTH AMENDMENT This FIFTH AMENDMENT (the "Amendment") dated October 27, 1998 is entered into by and among QUORUM HEALTH GROUP, INC., a corporation organized under the laws of Delaware (the "Borrower"), the LENDERS referred to in the Credit Agreement...
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EXHIBIT 10.1
FIFTH AMENDMENT
This FIFTH AMENDMENT (the "Amendment") dated October 27, 1998 is
entered into by and among QUORUM HEALTH GROUP, INC., a corporation organized
under the laws of Delaware (the "Borrower"), the LENDERS referred to in the
Credit Agreement (the "Lenders") and FIRST UNION NATIONAL BANK (f/k/a First
Union National Bank of North Carolina) as Agent for the Lenders (hereinafter
defined the "Agent").
STATEMENT OF PURPOSE
The Borrower, the Lenders and the Agent are parties to that certain
Credit Agreement dated as of April 22, 1997 (such agreement, as previously
amended, and as further amended from time to time, herein referred to as the
"Credit Agreement") pursuant to which the Lenders have agreed to extend certain
credit facilities to the Borrower. Capitalized terms used in this Amendment not
otherwise defined herein have the respective meanings attributed to such terms
in the Credit Agreement.
The Borrower has requested that the Lenders amend the Credit Agreement
as more fully described below. Subject to the terms and conditions set forth
below, the Lenders are willing to agree to the requested amendments.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged by the parties hereto, the Borrower,
each of the Lenders and the Agent agree as follows:
1. Amendments to Article IX. Section 9.5 is hereby amended by
inserting the following proviso immediately prior to the
period at the end of such Section 9.5:
"less(d) the amount of any stock repurchases or redemptions
permitted pursuant to Section 10.7(e); provided that in no
event shall Consolidated Net Worth to be less than
$450,000,000."
2. Amendments to Article X. Section 10.7(e) is hereby amended by
deleting the Dollar amount "$100,000,000" in clause (i)
thereof and substituting the Dollar amount "$150,000,000" in
lieu thereof.
3. Amendment Fee. In consideration of the amendments set forth
herein, the Borrower agrees to pay to the Agent,
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for the benefit of the Lenders, an amendment fee of 5 basis
points on the commitment of each Lender delivering an
executed signature page to this Fifth Amendment on or prior
to 5:00 PM (Eastern Standard Time) on Tuesday, October 27,
1998.
4. Conditions. The effectiveness of this Amendment shall be
conditioned upon receipt by the Agent of (a) a copy of this
Amendment duly executed by the Agent, the Borrower and the
Required Lenders, (b) payment of the Amendment Fee and (c)
contemporaneous consent to this Amendment by the lenders
under the Quorum ELLF Credit Agreement.
5. Bringdown; References to Credit Agreement. The Borrower
hereby represents and warrants that (a) the
representations and warranties contained in Article VI
of the Credit Agreement are true and correct in all
material respects as of the date hereof (except and to
the extent that such representations and warranties
relate to an earlier date, in which case such
representations and warranties shall be true and correct
as of such earlier date) and (b) no Default or Event of
Default has occurred and is continuing as of the date
hereof. All references in the Loan Documents to "Credit
Agreement" shall refer to the Credit Agreement as
amended by this Amendment and as the Credit Agreement
may be further amended from time to time.
6. Miscellaneous. Except as amended hereto, the Credit
Agreement shall remain in full force and effect in
accordance with its terms. This Amendment may be
executed in one or more counterparts each of which shall
be deemed to be an original and all of which, when taken
together, shall constitute one and the same instrument
and no single counterpart of this Amendment need be
executed by all the parties hereto. The covenants and
agreements contained in this Amendment shall apply to
and inure to the benefit of and be binding upon the
parties hereto and their respective successors and
assigns. This Amendment shall be governed by the laws of
the State of North Carolina.
[Signature Pages Follow]
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IN WITNESS WHEREOF, the Borrower, the Lenders and the Agent have
executed this Amendment to Credit Agreement as of the date first above written.
QUORUM HEALTH GROUP, INC.
By:
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Name:
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Title:
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FIRST UNION NATIONAL BANK
By:
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Name:
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Title:
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TORONTO DOMINION (TEXAS), INC.
By:
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Name:
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Title:
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SCOTIABANC INC.
By:
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Name:
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Title:
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AMSOUTH BANK
By:
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Name:
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Title:
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CITICORP USA, INC.
By:
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Name:
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Title:
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SUNTRUST BANK, NASHVILLE, N.A.
By:
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Name:
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Title:
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NATIONSBANK, N.A.
By:
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Name:
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Title:
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MELLON BANK, N.A.
By:
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Name:
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Title:
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BANK OF AMERICA NATIONAL TRUST
AND SAVINGS ASSOCIATION
By:
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Name:
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Title:
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FLEET NATIONAL BANK, N.A.
By:
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Name:
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Title:
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ABN AMRO BANK N.V.
By:
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Name:
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Title:
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By:
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Name:
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Title:
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COOPERATIEVE CENTRALE RAIFFEISEN
BOERENLEENBANK B.A.
"RABOBANK NEDERLAND,"
NEW YORK BRANCH
By:
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Name:
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Title:
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By:
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Name:
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Title:
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NATIONAL CITY BANK OF KENTUCKY
By:
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Name:
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Title:
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UNION BANK OF CALIFORNIA, N.A.
By:
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Name:
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Title:
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PARIBAS
By:
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Name:
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Title:
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By:
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Name:
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Title:
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LTCB TRUST COMPANY
By:
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Name:
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Title:
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THE SUMITOMO BANK, LIMITED
By:
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Name:
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Title:
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CREDIT LYONNAIS
By:
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Name:
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Title:
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BANK ONE, NA
By:
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Name:
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Title:
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THE SANWA BANK LIMITED,
By:
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Name:
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Title:
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FBTC LEASING CORP.
By:
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Name:
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Title:
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THE SUMITOMO TRUST AND
BANKING CO., LTD.,
NEW YORK BRANCH
By:
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Name:
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Title:
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KBC BANK N.V.
By:
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Name:
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Title:
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FIRST TENNESSEE BANK,
NATIONAL ASSOCIATION
By:
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Name:
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Title:
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FIRST AMERICAN NATIONAL BANK
By:
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Name:
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Title:
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BANK OF TOKYO - MITSUBISHI
TRUST COMPANY
By:
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Name:
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Title:
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By:
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Name:
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Title:
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BANK HAPOALIM B.M.
By:
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Name:
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Title:
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SOUTHTRUST BANK, N.A.
By:
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Name:
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Title:
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