SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT Dated as of March 30, 2006
EXHIBIT 20.2
This SIXTH AMENDMENT TO THE AMENDED AND RESTATED CREDIT AGREEMENT (together with all Exhibits,
Schedules and Annexes hereto, this “Amendment”) is among WASTE SERVICES (CA) INC., an
Ontario corporation formerly known as CAPITAL ENVIRONMENTAL RESOURCE INC./RESSOURCES
ENVIRONNEMENTALES CAPITAL INC. (“WSCI”), WASTE SERVICES, INC., a Delaware corporation (the
“Borrower”), and XXXXXX COMMERCIAL PAPER INC., as administrative agent for the Lenders (in
such capacity, the “Administrative Agent”).
PRELIMINARY STATEMENTS:
A. The Borrower, WSCI, the Lenders, the Administrative Agent, Xxxxxx Brothers Inc., as
Arranger, CIBC World Markets Corp., as Syndication Agent, Bank of America, N.A., as Documentation
Agent, and Canadian Imperial Bank of Commerce, as Canadian Agent, entered into an Amended and
Restated Credit Agreement, dated as of April 30, 2004 (as amended, restated, modified or
supplemented prior to the date hereof, and together with all Annexes, Exhibits and Schedules
thereto, the “Credit Agreement”; capitalized terms used and not otherwise defined herein
shall have the meanings ascribed to such terms in the Credit Agreement).
B. The Borrower and WSCI have advised the Administrative Agent and the Lenders that they
intend to make certain Permitted Acquisitions, and that they intend to fund the purchase price of
such Permitted Acquisitions with borrowings of Incremental Term Loans.
C. Pursuant to the Credit Agreement, the Incremental Term Loan Commitment Termination Date is
March 31, 2006 (or, if earlier the date on which the Incremental Term Loan Commitments are
terminated in full pursuant to Section 2.10 of the Credit Agreement); provided,
however, that the Borrower and WSCI have informed the Administrative Agent and the Lenders
that the closing dates for such Permitted Acquisitions will not have occurred by such date.
D. In connection with the foregoing, the Borrower and WSCI have requested that the
Administrative Agent and the Incremental Term Loan Lenders amend the Credit Agreement to extend the
Incremental Term Loan Commitment Termination Date to May 31, 2006, as more fully set forth herein,
and the Administrative Agent and the Incremental Term Loan Lenders are, on the terms and conditions
stated below, willing to grant such request.
NOW, THEREFORE, in consideration of the premises and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:
1. Amendment. Upon the terms and subject to the conditions set forth herein
and in reliance on the representations and warranties of the Loan Parties set forth herein, the
Credit Agreement is hereby amended as follows:
(a) The definition of “Incremental Term Loan Commitment Termination Date” contained in Section
1.1 of the Credit Agreement is hereby amended to delete the date “March 31, 2006” and insert the
date “May 31, 2006” in lieu thereof
(b) Section 2.9(b) of the Credit Agreement is hereby amended to delete the phrase “March 31,
2006, or, if earlier, on the Incremental Term Loan Commitment Termination Date.” and insert the
phrase “each of March 31, 2006 and May 31, 2006 (or, if earlier, the Incremental Term Loan
Commitment Termination Date).”
2. Conditions to Effectiveness. The effectiveness of the amendments
contained in Section 1 hereof is conditioned upon satisfaction of the following conditions
precedent (the date on which all such conditions have been satisfied being referred to herein as
the “Amendment Effective Date”):
(a) the Administrative Agent shall have (i) executed this Amendment and shall have received
written authorization to execute this Amendment from each of the Incremental Term Loan Lenders on
behalf of such Lenders, (ii) received counterparts of this Amendment signed by each of WSCI, the
Borrower and the Administrative Agent, and (iii) received counterparts of the consent of the
Guarantors attached hereto as Annex 1 (the “Consent”) executed by each of the Guarantors;
(b) each of the representations and warranties in Section 3 below shall be true and correct in
all material respects on and as of the Amendment Effective Date;
(c) the Administrative Agent shall have received payment in immediately available funds of all
expenses incurred by the Administrative Agent (including, without limitation, legal fees)
reimbursable under the Credit Agreement and for which invoices have been presented; and
(d) the Administrative Agent shall have received such other documents, instruments,
certificates, opinions and approvals as it may reasonably request.
3. Representations and Warranties. Each of WSCI and the Borrower represents
and warrants jointly and severally to the Administrative Agent and the Lenders as follows:
(a) Authority. Each of WSCI and the Borrower has the requisite corporate or other
organizational power and authority to execute and deliver this Amendment and to perform its
obligations hereunder and under the Credit Agreement (as amended hereby). Each of the Guarantors
has the requisite corporate or other organizational power and authority to execute and deliver the
Consent. The execution, delivery and performance by each of WSCI and the Borrower of this
Amendment and by the Guarantors of the Consent, and the performance by each of WSCI, the Borrower
and each other Loan Party of the Credit Agreement (as amended hereby) and each other Loan Document
to which it is a party, in each case, have been authorized by all necessary corporate or other
organizational action of such Person, and no other corporate or other organizational proceedings on
the part of each such Person is necessary to consummate such transactions.
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(b) Enforceability. This Amendment has been duly executed and delivered on behalf of
each of WSCI and the Borrower. The Consent has been duly executed and delivered by each of the
Guarantors. Each of this Amendment, the Consent and, after giving effect to this Amendment, the
Credit Agreement (as amended hereby) and the other Loan Documents, (i) is the legal, valid and
binding obligation of each Loan Party party hereto and thereto, enforceable against such Loan Party
in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally
and by general equitable principles (whether enforcement is sought by proceedings in equity or at
law) and (ii) is in full force and effect. Neither the execution, delivery or performance of this
Amendment or of the Consent or the performance of the Credit Agreement (as amended hereby), nor the
performance of the transactions contemplated hereby or thereby, will adversely affect the validity,
perfection or priority of the Administrative Agent’s Lien on any of the Collateral or its ability
to realize thereon. This Amendment is effective to amend the Credit Agreement as provided herein.
(c) Representations and Warranties. After giving effect to this Amendment, the
representations and warranties contained in the Credit Agreement and the other Loan Documents
(other than any such representations and warranties that, by their terms, are specifically made as
of a date other than the date hereof) are true and correct in all material respects on and as of
the date hereof as though made on and as of the date hereof.
(d) No Conflicts. Neither the execution and delivery of this Amendment or the
Consent, nor the consummation of the transactions contemplated hereby and thereby, nor the
performance of and compliance with the terms and provisions hereof or of the Credit Agreement (as
amended hereby) by any Loan Party will, at the time of such performance, (a) violate or conflict
with any provision of its articles or certificate of incorporation or bylaws or other
organizational or governing documents of such Person, (b) violate, contravene or materially
conflict with any Requirement of Law or Contractual Obligation (including, without limitation,
Regulation U), except for any violation, contravention or conflict which could not reasonably be
expected to have a Material Adverse Effect or (c) result in or require the creation of any Lien
(other than those permitted by the Loan Documents) upon or with respect to its properties. No
consent or authorization of, filing with, notice to or other act by or in respect of, any
Governmental Authority or any other Person is required in connection with the transactions
contemplated hereby.
(e) No Default. Both before and after giving effect to this Amendment, no event has
occurred and is continuing that constitutes a Default or Event of Default.
4. Reference to and Effect on Credit Agreement.
(a) Upon 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 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 modified hereby. This Amendment is a Loan Document.
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(b) Except as specifically modified above, the Credit Agreement and the other Loan Documents
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 Security Documents and all of the
Collateral described therein do and shall continue to secure the payment of all Obligations under
and as defined therein, in each case as modified hereby.
(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 any Secured Party under any
of the Loan Documents, nor, except as expressly provided herein, constitute a waiver or amendment
of any provision of any of the Loan Documents.
5. 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 and delivered shall be deemed to be an original and all of which taken together shall
constitute one and the same agreement. Delivery of an executed counterpart of a signature page to
this Amendment by facsimile shall be effective as delivery of a manually executed counterpart of
this Amendment.
6. Severability. Any provision of this Amendment that is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.
7. 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]
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their
respective officers as of the day and year first above written.
| WASTE SERVICES, INC., as Borrower |
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| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | Executive Vice President, General Counsel and Secretary | |||
| WASTE SERVICES (CA) INC. |
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| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | Vice President and Secretary | |||
| XXXXXX COMMERCIAL PAPER INC., as Administrative Agent |
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| By: | /s/ Xxxxx X. Xxxxxx | |||
| Name: | Xxxxx X. Xxxxxx | |||
| Title: | Vice President | |||
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Annex 1
CONSENT OF GUARANTORS
Each of the undersigned is a Guarantor of the Obligations of the Borrower and/or of WSCI under the
Credit Agreement and hereby (a) consents to the foregoing Amendment, (b) acknowledges that
notwithstanding the execution and delivery of the foregoing Amendment, the obligations of each of
the undersigned Guarantors are not impaired or affected and all guaranties given to the holders of
Obligations and all Liens granted as security for the Obligations continue in full force and
effect, and (c) confirms and ratifies its obligations under each of the Loan Documents executed by
it. Capitalized terms used herein without definition shall have the meanings given to such terms
in the Amendment to which this Consent is attached or in the Credit Agreement referred to therein,
as applicable.
IN WITNESS WHEREOF, each of the undersigned has executed and delivered this Consent of
Guarantors as of the 30th day of March 2006.
[Signature pages follow]
| OMNI WASTE OF OSCEOLA COUNTY LLC |
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| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | Manager | |||
| CACTUS WASTE SYSTEMS, LLC |
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| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | Manager | |||
| WASTE SERVICES OF ARIZONA, INC. |
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| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | Vice President and Secretary | |||
| WASTE SERVICES OF FLORIDA, INC. |
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| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | Vice President and Secretary | |||
| JACKSONVILLE FLORIDA LANDFILL, INC. |
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| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | Vice President and Secretary | |||
[Signature Page]
| XXXXX ROAD LANDFILL AND RECYCLING, LTD., by Jacksonville Florida Landfill, Inc., its General Partner |
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| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | Vice President and Secretary | |||
| FORT BEND REGIONAL LANDFILL LP |
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| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | Vice President and Secretary | |||
| XXXXXXX HILLS TRANSFER STATION LP |
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| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | Vice President and Secretary | |||
| WASTE SERVICES OF ALABAMA, INC. |
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| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | Vice President and Secretary | |||
| WASTE SERVICES LIMITED PARTNER, LLC |
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| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | Manager | |||
[Signature Page]
| WS GENERAL PARTNER, LLC, by Waste Services, Inc., its Sole Member |
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| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | Executive Vice President, General Counsel and Secretary | |||
| RAM-PAK COMPACTION SYSTEMS LTD. |
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| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | Vice President and Secretary | |||
| 6045341 CANADA INC. |
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| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | Vice President and Secretary | |||
| XXXXXXX RECYCLING AND TRANSFER, INC. |
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| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | Vice President and Secretary | |||
| CAPITAL ENVIRONMENTAL HOLDINGS COMPANY |
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| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | Vice President and Secretary | |||
[Signature Page]
| WSI WASTE SERVICES OF TEXAS LP |
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| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | Vice President and Secretary | |||
[Signature Page]
