Swap Transaction (Revision)
Exhibit 10.13
Swap Transaction (Revision)
The purpose of this letter agreement is to confirm the amendment of the terms and conditions of the Transaction entered into between:
JPMORGAN CHASE BANK, N.A.
(“JPMorgan”)
and
MILACRON INCORPORATED
(the “Counterparty”)
on the Trade Date and identified by the JPMorgan Deal Number specified below (the “Transaction”). This letter agreement constitutes a “Confirmation” as referred to in the Master Agreement specified below, and supersedes any previous confirmation or other writing with respect to the transaction described below.
The definitions and provisions contained in the 2000 ISDA Definitions (the “Definitions”), as published by the International Swaps and Derivatives Association, Inc. are incorporated into this Confirmation. In the event of any inconsistency between those definitions and provisions and this Confirmation, this Confirmation will govern.
This Confirmation supplements, forms part of, and is subject to, the ISDA Master Agreement dated as of 28 July 2004, as amended and supplemented from time to time (the “Agreement”), between JPMORGAN CHASE BANK, N.A. (“JPMorgan”) and MILACRON INCORPORATED (the “Counterparty”). All provisions contained in the Agreement govern this Confirmation except as expressly modified below.
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The terms of the particular Swap Transaction to which this Confirmation relates are as follows:
A. TRANSACTION DETAILS |
||
JPMorgan Deal Number(s): |
0500085004641 | |
Notional Amount: |
USD 50,000,000.00 | |
Trade Date: |
30 July 2004 | |
Effective Date:
|
3 August 2004 | |
Termination Date: |
15 November 2009, subject to adjustment in accordance with the Modified Following Business Day Convention. | |
Fixed Amounts: |
||
Fixed Rate Payer:
|
JPMorgan | |
Fixed Rate Payer Payment Dates: |
The 15 November and 15 May in each year, from and including 15 November 2004 to and including the Termination Date, subject to adjustment in accordance with the Modified Following Business Day Convention and there will be an adjustment to the Calculation Period. | |
Fixed Rate:
|
11.50000 percent | |
Fixed Rate Day Count Fraction:
|
30/360 | |
Business Days:
|
New York, London | |
Floating Amounts: |
||
Floating Rate Payer (Seller):
|
Counterparty | |
Floating Rate Payer Payment Dates: |
The 15 November and 15 May in each year, from and including 15 November 2004 to and including the Termination Date, subject to adjustment in accordance with the Modified Following Business Day Convention, and there will be an adjustment to the Calculation Period. |
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Floating Rate Option:
|
USD-LIBOR-BBA, except that | |
| From and including 15 May 2005 to but excluding the Termination Date: | ||
| (i) if the Floating Rate determined is equal to or less than 3.45 percent, exclusive of Spread, the Floating Rate for that Calculation Period shall be 4.132 percent. | ||
| (ii) if the Floating Rate determined is equal to or greater than 4.132 percent but less than 6.00 percent, exclusive of Spread, the Floating Rate for the Calculation Period shall be 4.132 percent. | ||
Designated Maturity:
|
6 Month | |
Spread:
|
Plus 7.21000 percent | |
Floating Rate Day Count Fraction:
|
Actual/360 | |
Reset Dates:
|
The last day in each Calculation Period. | |
Compounding:
|
Inapplicable | |
Business Days:
|
New York, London | |
Calculation Agent:
|
JPMorgan, unless otherwise stated in the Agreement. | |
B. EARLY TERMINATION |
||
Optional Early Termination:
|
Applicable | |
Option Style:
|
European | |
Exercise Business Day:
|
New York, London | |
Procedure
for Exercise |
||
Exercise Dates:
|
Five Exercise Business Days preceding 10 December 2007 | |
Exercise Period:
|
9:00 a.m. to 11:00 a.m. New York time | |
Partial Exercise:
|
Inapplicable | |
Multiple Exercise:
|
Inapplicable | |
Written Confirmation of Exercise:
|
Applicable |
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Settlement Terms |
||
Cash Settlement:
|
Applicable | |
Cash Settlement Valuation Time:
|
11:00 a.m. New York Time | |
Business Days for Valuation:
|
New York, London | |
Cash Settlement Payment Date:
|
Five Exercise Business Days following the Exercise Date |
|
Cash Settlement Method:
|
Cash Price | |
Cash Settlement Currency:
|
USD | |
Cash Settlement Reference Banks:
|
As defined in the Definitions | |
Quotation Rate:
|
Mid | |
C. ACCOUNT DETAILS |
||
Payments to JPMorgan in USD:
|
JPMORGAN CHASE BANK NA | |
| JPMORGAN CHASE BANK NA | ||
| BIC: XXXXXX00XXX | ||
| AC No: 099997979 | ||
Payments to Counterparty in USD:
|
As per your standard settlement instructions. | |
D. OFFICES |
||
JPMorgan:
|
NEW YORK | |
Counterparty:
|
CINCINNATI |
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E. DOCUMENTS TO BE DELIVERED |
Each party shall deliver to the other, at the time of its execution of this Confirmation, evidence of the incumbency and specimen signature of the person(s) executing this Confirmation, unless such evidence has been previously supplied and remains true and in effect.
F. RELATIONSHIP BETWEEN PARTIES
Each party will be deemed to represent to the other party on the date on which it enters into a Transaction that (absent a written agreement between the parties that expressly imposes affirmative obligations to the contrary for that Transaction):
(a) Non-Reliance. It is acting for its own account, and it has made its own independent decisions to enter into that Transaction and as to whether that Transaction is appropriate or proper for it based upon its own judgment and upon advice from such advisers as it has deemed necessary. It is not relying on any communication (written or oral) of the other party as investment advice or as a recommendation to enter into that Transaction; it being understood that information and explanations related to the terms and conditions of a Transaction shall not be considered investment advice or a recommendation to enter into that Transaction. No communication (written or oral) received from the other party shall be deemed to be an assurance or guarantee as to the expected results of that Transaction.
(b) Assessment and Understanding. It is capable of assessing the merits of and understanding (on its own behalf or through independent professional advice), and understands and accepts, the terms, conditions and risks of that Transaction. It is capable of assuming, and assumes the risks of that Transaction.
(c) Status of Parties. The other party is not acting as a fiduciary for or an adviser to it in respect of that Transaction.
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Please confirm that the foregoing correctly sets forth the terms of our agreement by executing a copy of this Confirmation and returning it to us or by sending to us a letter, telex or facsimile substantially similar to this letter, which letter, telex or facsimile sets forth the material terms of the Transaction to which this Confirmation relates and indicates agreement to those terms. When referring to this Confirmation, please indicate: JPMorgan Deal Number(s): 0500085004641
JPMorgan Chase Bank, N.A.
| /s/ Xxxxxxx Xxxxx | |||
Name:
|
Xxxxxxx Xxxxx | ||
Title:
|
Vice President | ||
Accepted and confirmed as of the date
first written:
MILACRON INCORPORATED
| /s/ Xxxx X. Xxxxxx | ||
Name:
|
Xxxx X. Xxxxxx | |
Title:
|
VP & Treasurer | |
| Your reference number: | ||
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Client Service Group
JPMorgan Chase Bank, N.A.
| Contacts | ||
JPMorgan Contact
|
Telephone Number | |
Client Service Group
|
(000) 0000000000 | |
Group E-mail address: |
||
Facsimile: Telex: |
(000) 0000000000 | |
Cable: |
Please quote the JPMorgan deal number(s): 0500085004641.
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