EXHIBIT 10.1
EXECUTION COPY
AMENDMENT NO. 4 TO CREDIT AGREEMENT
AMENDMENT NO. 4 TO CREDIT AGREEMENT (this "Amendment"), dated
as of March 27, 2003 among BRIGHTPOINT NORTH AMERICA L.P., a Delaware limited
partnership ("Brightpoint"), and WIRELESS FULFILLMENT SERVICES LLC, a California
limited liability company ("Wireless", together with Brightpoint, the
"Borrowers"), the other Credit Parties signatory to the hereinafter defined
Credit Agreement; GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation
(in its individual capacity, "GE Capital"), for itself, as Lender, and as Agent
for Lenders ("Agent"), and the other Lenders signatory to the hereinafter
defined Credit Agreement.
W I T N E S S E T H :
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WHEREAS, the Borrowers, the other Credit Parties, Agent and
Lenders are party to that certain Credit Agreement, dated as of October 31, 2001
(as amended, restated, supplemented or otherwise modified from time to time, the
"Credit Agreement");
WHEREAS, on and subject to the terms and conditions hereof,
the Borrowers and the other Credit Parties have requested that Agent and
Lenders, and Agent and Lenders are willing to, amend certain provisions of the
Credit Agreement, all as set forth herein;
WHEREAS, this Amendment shall constitute a Loan Document and
these Recitals shall be construed as part of this Amendment; capitalized terms
used herein without definition are so used as defined in Annex A to the Credit
Agreement.
NOW, THEREFORE, in consideration of the premises and the
mutual covenants contained herein, the parties hereto hereby agree as follows:
1. Amendments to Credit Agreement.
(a) Section 6.2 of the Credit Agreement is amended as
follows:
(i) By deleting the word "and" immediately
preceding subsection (c) thereof;
(ii) By adding new subsection (d) thereto
immediately following subsection (c) thereof
to read as follows:
"; and (d) so long as no Default or Event of Default
has occurred and is continuing and there is no
outstanding Revolving Loan balance, Brightpoint may
make investments, subject to Control Letters in favor
of Agent for the benefit of Lenders or otherwise
subject to a perfected security interest in favor of
Agent for the benefit of Lenders, in (i) marketable
direct obligations issued or
unconditionally guaranteed by the United States of
America or any agency thereof maturing within one
year from the date of acquisition thereof, (ii)
commercial paper maturing no more than one year from
the date of creation thereof and currently having the
highest rating obtainable from either Standard &
Poor's Ratings Group or ▇▇▇▇▇'▇ Investors Service,
Inc., (iii) certificates of deposit, maturing no more
than one year from the date of creation thereof,
issued by commercial banks incorporated under the
laws of the United States of America, each having
combined capital, surplus and undivided profits of
not less than $300,000,000 and having a senior
unsecured rating of "A" or better by a nationally
recognized rating agency (an "A Rated Bank"), (iv)
time deposits maturing no more than 30 days from the
date of creation thereof with A Rated Banks, (v)
mutual funds that invest solely in one or more of the
investments described in clauses (i) through (iv)
above, and (vi) money market mutual funds having a
rating of "AAA" or better by a nationally recognized
rating agency."
(b) the following defined term is added to Annex A to Credit
Agreement in alphabetical order among the definitions appearing therein:
"A Rated Bank" has the meaning ascribed to it in
Section 6.2.
2. Representations and Warranties of Credit Parties. In order
to induce Agent and Lenders to enter into this Amendment, each Credit Party
hereby jointly and severally represents and warrants to Agent and Lenders that:
(a) Representations and Warranties. After giving effect to
this Amendment, no representation or warranty of any Credit Party contained in
the Credit Agreement or any of the other Loan Documents, including this
Amendment, shall be untrue or incorrect in any material respect as of the date
hereof, except to the extent that such representation or warranty expressly
relates to an earlier date.
(b) Authorization, etc. Each Credit Party has the power and
authority to execute, deliver and perform this Amendment. Each Credit Party has
taken all necessary action (including, without limitation, obtaining approval of
its stockholders, if necessary) to authorize its execution, delivery and
performance of this Amendment. No consent, approval or authorization of, or
declaration or filing with, any Governmental Authority, and no consent of any
other Person, is required in connection with any Credit Party's execution,
delivery and performance of this Amendment, except for those already duly
obtained. This Amendment has been duly executed and delivered by each Credit
Party and constitutes the legal, valid and binding obligation of each Credit
Party, enforceable against it in accordance with its terms. No Credit Party's
execution, delivery or performance of this Amendment conflicts with, or
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constitutes a violation or breach of, or constitutes a default under, or results
in the creation or imposition of any Lien upon the property of any Credit Party
by reason of the terms of (i) any contract, mortgage, lease, agreement,
indenture or instrument to which any Credit Party is a party or which is binding
upon it, (ii) any law or regulation or order or decree of any court applicable
to any Credit Party, or (iii) the certificate or articles of incorporation or
by-laws of any Credit Party.
(c) No Default. No Default or Event of Default has occurred or
is continuing, or would result after giving effect hereto.
3. Conditions to Effectiveness. The effectiveness of this
Amendment is expressly conditioned upon the satisfaction of each condition set
forth in this Section 3 on or prior to the date hereof:
(a) Documentation. Agent shall have received (on behalf of
itself and Lenders) duly executed originals of this Amendment from each Credit
Party and from Requisite Lenders.
(b) Customer Agreement. Agent shall have received a fully
executed copy of the institutional money market agency agreement dated as of the
date hereof between Brightpoint and NatCity Investments, Inc.
(c) Control Letter. Agent shall have received duly executed
originals of the Control Letter dated as of the date hereof by and among
Brightpoint, NatCity Investments, Inc. as "securities intermediary", and Agent
from each of Brightpoint and NatCity Investments, Inc.
(d) Other Documents. All other agreements, certificates and
other documents as Agent any reasonably request to accomplish the purposes of
this Amendment.
4. Reference to and Effect on Loan Documents.
(a) Ratification. Except as specifically provided in this
Amendment, the Credit Agreement and the other Loan Documents shall remain in
full force and effect and each Credit Party hereby ratifies and confirms each
such Loan Document.
(b) No Waiver. Except as specifically provided in this
Amendment, the execution, delivery and effectiveness of this Amendment shall not
operate as a waiver or forbearance of any right, power or remedy of Agent or any
Lender under the Credit Agreement or any of the other Loan Documents, or
constitute a consent, waiver or modification with respect to any provision of
the Credit Agreement or any of the other Loan Documents. Upon the effectiveness
of this Amendment each reference in (a) the Credit Agreement to "this
Agreement," "hereunder," "hereof," or words of similar import and (b) any other
Loan Document to "the Agreement" shall, in each case and except as otherwise
specifically stated therein, mean and be a reference to the Credit Agreement as
amended hereby.
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5. Affirmation of Guarantors. By its signature set forth
below, each Guarantor hereby confirms to Agent and Lenders that, after giving
effect to the foregoing Amendment and the transactions contemplated thereby, the
Guaranty of such Guarantor and each other Loan Document to which such Guarantor
is a party continues in full force and effect and is the legal, valid and
binding obligation of such Guarantor, enforceable against such Guarantor in
accordance with its terms, except as enforceability may be limited by applicable
bankruptcy, insolvency, or similar laws affecting the enforcement of creditors'
rights generally or by equitable principles relating to enforceability.
6. Miscellaneous.
(a) Successors and Assigns. This Amendment shall be binding on
and shall inure to the benefit of the Credit Parties, Agent and Lenders and
their respective successors and assigns, except as otherwise provided herein. No
Credit Party may assign, transfer, hypothecate or otherwise convey its rights,
benefits, obligations or duties hereunder without the prior express written
consent of Agent and Lenders. The terms and provisions of this Amendment are for
the purpose of defining the relative rights and obligations of the Credit
Parties, Agent and Lenders with respect to the transactions contemplated hereby
and there shall be no third party beneficiaries of any of the terms and
provisions of this Amendment.
(b) Entire Agreement. This Amendment, including all schedules
and other documents attached hereto or incorporated by reference herein or
delivered in connection herewith, constitutes the entire agreement of the
parties with respect to the subject matter hereof and supersedes all other
understandings, oral or written, with respect to the subject matter hereof.
(c) Fees and Expenses. As provided in Section 11.3 of the
Credit Agreement, the Borrowers agree to pay on demand all fees, costs and
expenses incurred by Agent in connection with the preparation, execution and
delivery of this Amendment.
(d) Headings. Section headings in this Amendment are included
herein for convenience of reference only and shall not constitute a part of this
Amendment for any other purpose.
(e) Severability. Wherever possible, each provision of this
Amendment shall be interpreted in such a manner as to be effective and valid
under applicable law, but if any provision of this Amendment shall be prohibited
by or invalid under applicable law, such provision shall be ineffective to the
extent of such prohibition or invalidity, without invalidating the remainder of
such provision or the remaining provisions of this Amendment.
(f) Conflict of Terms. Except as otherwise provided in this
Amendment, if any provision contained in this Amendment is in conflict with, or
inconsistent with, any provision in any of the other Loan Documents, the
provision contained in this Amendment shall govern and control.
(g) Counterparts. This Amendment may be executed in any number
of separate counterparts, each of which shall collectively and separately
constitute one agreement.
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Delivery of an executed signature page to this Amendment by telecopy shall be
effective as delivery of a manually executed signature page to this Amendment.
(h) Incorporation of Credit Agreement. The provisions
contained in Sections 11.9 and 11.13 of the Credit Agreement are incorporated
herein by reference to the same extent as if reproduced herein in their
entirety, except with reference to this Amendment rather than the Credit
Agreement.
(i) Acknowledgment. Each Credit Party hereby acknowledges its
status as a Credit Party and affirms its obligations under the Credit Agreement
and represents and warrants that there are no liabilities, claims, suits, debts,
liens, losses, causes of action, demands, rights, damages or costs, or expenses
of any kind, character or nature whatsoever, known or unknown, fixed or
contingent (collectively, the "Claims"), which any Credit Party may have or
claim to have against Agent or any Lender, or any of their respective
affiliates, agents, employees, officers, directors, representatives, attorneys,
successors and assigns (collectively, the "Lender Released Parties"), which
might arise out of or be connected with any act of commission or omission of the
Lender Released Parties existing or occurring on or prior to the date of this
Amendment, including, without limitation, any Claims arising with respect to the
Obligations or any Loan Documents. In furtherance of the foregoing, each Credit
Party hereby releases, acquits and forever discharges the Lender Released
Parties from any and all Claims that any Credit Party may have or claim to have,
relating to or arising out of or in connection with the Obligations or any Loan
Documents or any other agreement or transaction contemplated thereby or any
action taken in connection therewith from the beginning of time up to and
including the date of the execution and delivery of this Amendment. Each Credit
Party further agrees forever to refrain from commencing, instituting or
prosecuting any lawsuit, action or other proceeding against any Lender Released
Parties with respect to any and all Claims which might arise out of or be
connected with any act of commission or omission of the Lender Released Parties
existing or occurring on or prior to the date of this Amendment, including,
without limitation, any Claims arising with respect to the Obligations or any
Loan Documents.
[signature pages follow]
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IN WITNESS WHEREOF, this Amendment has been duly executed and delivered as of
the day and year first above written.
BRIGHTPOINT NORTH AMERICA L.P.
BY: BRIGHTPOINT NORTH AMERICA, INC., its
general partner
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Executive Vice President & Secretary
WIRELESS FULFILLMENT SERVICES LLC
BY: BRIGHTPOINT, INC., its manager
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Executive Vice President, General
Counsel & Secretary
GENERAL ELECTRIC CAPITAL CORPORATION,
as Agent and Lender
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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Title: Duly Authorized Signatory
LASALLE BUSINESS CREDIT, LLC,
as Lender
By: /s/ ▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇
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Title: AVP
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[S-1]
NATIONAL CITY BANK OF INDIANA, as Lender
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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Title: Assistant Vice President
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CONGRESS FINANCIAL CORPORATION (CENTRAL),
as Lender
By: /s/ ▇▇▇▇▇▇▇ Vizoiroa
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Name: ▇▇▇▇▇▇▇ Vizoiroa
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Title: First Vice President
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[S-2]
The following Persons are signatories to this Amendment in
their capacity as Credit Parties or Loan Parties and not as Borrowers.
BRIGHTPOINT, INC.
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Executive Vice President, General
Counsel & Secretary
BRIGHTPOINT NORTH AMERICA, INC.
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Executive Vice President & Secretary
WIRELESS FULFILLMENT SERVICES HOLDINGS, INC.
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Executive Vice President & Secretary
BRIGHTPOINT INTERNATIONAL LTD.
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Executive Vice President & Secretary
[S-3]
