FIFTH AMENDMENT TO AMENDED AND RESTATED NOTE PURCHASE AGREEMENT
Exhibit 10.2
EXECUTION VERSION
FIFTH AMENDMENT TO
AMENDED AND RESTATED NOTE PURCHASE AGREEMENT
This FIFTH AMENDMENT TO AMENDED AND RESTATED NOTE PURCHASE AGREEMENT (the “Fifth Amendment”), dated January 15, 2010, is by and among StoneMor GP LLC, a Delaware limited liability company (the “General Partner”), StoneMor Partners L.P., a Delaware limited partnership (the “Parent”), StoneMor Operating LLC, a Delaware limited liability company (the “Company”), the Subsidiaries of the Parent set forth on the signature pages hereto (together with the Company, each individually an “Issuer” and collectively, the “Issuers” and together with the General Partner and the Parent, each individually a “Credit Party” and collectively, the “Credit Parties”) and the Noteholders (as defined below) party hereto.
BACKGROUND
A. Pursuant to that certain Amended and Restated Note Purchase Agreement, dated August 15, 2007, by and among the Credit Parties and the purchasers listed on Schedule A attached thereto (collectively, the “Purchasers,” and together with their successors and assigns including, without limitation, future holders of the Shelf Notes, herein collectively referred to as the “Noteholders”), as amended by that certain First Amendment to Amended and Restated Note Purchase Agreement, dated November 2, 2007, that certain Second Amendment to Amended and Restated Note Purchase Agreement, dated April 30, 2009, that certain Third Amendment to Amended and Restated Note Purchase Agreement, dated July 1, 2009, and that certain Fourth Amendment to Amended and Restated Note Purchase Agreement, dated November 24, 2009 (the “Existing Note Agreement”, and as amended pursuant to this Fifth Amendment, the “Note Agreement”), the Issuers, among other things, (i) issued to the Purchasers their (a) 11.00% Series B Senior Secured Notes due August 15, 2012, in the aggregate principal amount of $35,000,000 (the “Series B Notes”), of which $17,500,000 remains outstanding after prepayment of the Series B Notes held by iStar Xxxx LLC in connection with the Fourth Amendment, and (b) 11.00% Senior Secured Series C Notes due August 15, 2012, in the aggregate principal amount of $17,500,000 (the “Series C Notes”, and together with the Series B Notes, collectively, the “Issued Notes”), and (ii) authorized the issuance of up to $150,000,000 aggregate principal amount of their Shelf Notes (inclusive of the Issued Notes).
B. Issuers have requested certain amendments to the Existing Note Agreement as more fully set forth herein.
C. The Noteholders are willing to agree to such amendments on the terms and subject to the conditions set forth herein.
NOW, THEREFORE, in consideration of the foregoing premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows:
1. Definitions.
(a) General Rule. Except as expressly set forth herein, all capitalized terms used and not defined herein shall have the respective meanings ascribed thereto in the Note Agreement.
(b) Additional Definition. The following additional definition is hereby added to Schedule B of the Existing Note Agreement to read in its entirety as follows:
“Fifth Amendment” means the Fifth Amendment to Amended and Restated Note Purchase Agreement dated January 15, 2010.
2. Amendment to Section 10.11(c). Subsection (c) of Section 10.11 of the Existing Note Agreement is hereby amended and restated in its entirety as follows:
“(c) Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio to be greater than (i) 4.00 to 1.00, for any Measurement Period ending prior to July 1, 2010, (ii) 3.75 to 1.00, for any Measurement Period ending between July 1, 2010 and December 31, 2010, inclusive, or (iii) 3.65 to 1.00, for any Measurement Period ending after December 31, 2010.”
3. Representations and Warranties. Each Credit Party hereby represents and warrants to the Noteholders that, as to such Credit Party:
(a) Representations. Each of the representations and warranties of or as to such Credit Party contained in the Note Agreement and the other Finance Documents are true and correct in all material respects on and as of the date hereof as if made on and as of the date hereof, except to the extent such representation or warranty was made as of a specific date;
(b) Power and Authority. (i) Such Credit Party has the power and authority under the laws of its jurisdiction of organization and under its organizational documents to enter into and perform this Fifth Amendment, the Confirmation and Reaffirmation of General Partner/Parent Guarantee attached hereto as Exhibit A (the “Guarantor Confirmation”), and any other documents which the Noteholders require such Credit Party to deliver hereunder (this Fifth Amendment, the Guarantor Confirmation and any such additional documents delivered in connection with this Fifth Amendment are herein referred to as the “Fifth Amendment Documents”); and (ii) all actions, corporate or otherwise, necessary or appropriate for the due execution and full performance by such Credit Party of the Fifth Amendment Documents have been adopted and taken and, upon their execution, the Note Agreement, as amended by this Fifth Amendment, the General Partner/Parent Guarantee (after giving effect to the Guarantor Confirmation) and the other Fifth Amendment Documents will constitute the valid and binding obligations of such Credit Party enforceable in accordance with their respective terms, except as such enforcement may be limited by any Debtor Relief Law from time to time in effect which affects the enforcement of creditors rights in general and the availability of equitable remedies;
(c) No Violation. The making and performance of the Fifth Amendment Documents will not (i) contravene, conflict with or result in a breach or default under any applicable law, statute, rule or regulation, or any order, writ, injunction, judgment,
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ruling or decree of any court, arbitrator or governmental instrumentality, (ii) contravene, constitute a default under, conflict or be inconsistent with or result in any breach of, any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the creation or imposition of (or the obligation to create or impose) any Lien upon any of the property or assets of any Credit Party pursuant to the terms of any indenture, mortgage, deed of trust, loan agreement, credit agreement or any other agreement or instrument to which any Credit Party is a party or by which it or any of its property or assets are bound or to which it may be subject or (iii) contravene or violate any provision of the certificate of incorporation, by-laws, certificate of partnership, partnership agreement, certificate of limited liability company, limited liability company agreement or equivalent organizational document, as the case may be, of any Credit Party;
(d) No Default. No Default or Event of Default exists immediately before or will exist immediately after giving effect to this Fifth Amendment;
(e) No Material Adverse Effect. No Material Adverse Effect has occurred since December 31, 2008;
(f) Acknowledgment of Obligations; Collateral. (i) The Finance Documents are valid and enforceable against, and all of the terms and conditions of the Finance Documents are binding on, the Credit Parties and (ii) the liens and security interests granted to the Collateral Agent, on behalf of the Secured Parties, by the Credit Parties pursuant to the Finance Documents are valid, legal and binding, properly recorded or filed and first priority perfected liens and security interests (subject to Permitted Liens); and
(g) Lender Fees. No Credit Party has paid or agreed to pay any fees or other consideration to the Lenders in connection with the Fifth Amendment to Amended and Restated Credit Agreement other than the reasonable fees and costs incurred by the Lenders’ attorneys.
4. Conditions to Effectiveness of Amendment. This Fifth Amendment shall be effective upon the Noteholders’ receipt of the following, each in form and substance reasonably satisfactory to the Noteholders:
(a) Fifth Amendment. This Fifth Amendment, duly executed by the Credit Parties and the Noteholders;
(b) Guarantor Confirmation. The Guarantor Confirmation, duly executed by the General Partner and the Parent;
(c) Amendment to Credit Agreement. A duly executed Fifth Amendment to Amended and Restated Credit Agreement in form and substance satisfactory to the Noteholders;
(d) Lender Documents. Copies of all documents delivered to the Lenders in connection with the amendment to the Credit Agreement referred to in Section 4(c);
(e) Other Fees and Expenses. Payment to the Noteholders, in immediately available funds, of all amounts necessary to reimburse the Noteholders for the
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reasonable fees and costs incurred by the Noteholders in connection with the preparation and execution of this Fifth Amendment and any other Finance Document, including, without limitation, all fees and costs incurred by the Noteholders’ attorneys; and
(f) Other Documents and Actions. Such additional agreements, instruments, documents, writings and actions as the Noteholders may reasonably request.
5. No Waiver; Ratification. The execution, delivery and performance of this Fifth Amendment shall not (a) operate as a waiver of any right, power or remedy of the Noteholders under the Note Agreement, any Finance Document or any Fifth Amendment Document and the agreements and documents executed in connection therewith or (b) constitute a waiver of any provision thereof. Except as expressly modified hereby, all terms, conditions and provisions of the Note Agreement and the other Finance Documents shall remain in full force and effect and are hereby ratified and confirmed by the Credit Parties. Nothing contained herein constitutes an agreement or obligation by the Noteholders to grant any further amendments to any of the Finance Documents.
6. No Waiver of Existing Defaults. To induce the Noteholders to enter into this Fifth Amendment, the Credit Parties acknowledge, agree, warrant, and represent that nothing in this Fifth Amendment nor any communication between any Secured Party, any Credit Party or any of their respective officers, agents, employees or representatives shall be deemed to constitute a waiver of (i) any Default or Event of Default arising as a result of the representations and warranties set forth in Section 3 proving to be false or incorrect in any material respect, or (ii) any rights or remedies which any Secured Party has against any Credit Party under the Note Agreement or any other Finance Document and/or applicable law, with respect to any such Default or Event of Default arising as a result of the representations and warranties set forth in Section 3 proving to be false or incorrect in any material respect.
7. Waiver of Claims. The Credit Parties hereby waive any and all defenses, set offs and counterclaims which they, whether jointly or severally, may have or claim to have against each of the Secured Parties as of the date hereof.
8. Binding Effect. This Fifth Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
9. Governing Law. This Fifth Amendment shall be governed by and construed in accordance with the laws of the State of New York without reference to the choice of law doctrine of the State of New York.
10. Headings. The headings of the sections of this Fifth Amendment are inserted for convenience only and shall not be deemed to constitute a part of this Fifth Amendment.
11. Counterparts. This Fifth Amendment may be executed in any number of counterparts with the same effect as if all of the signatures on such counterparts appeared on one document and each counterpart shall be deemed an original. Delivery of an executed counterpart of a signature page of this Fifth Amendment by telecopy or by electronic means shall be effective as delivery of a manually executed counterpart of this Fifth Amendment.
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12. Consent to Fifth Amendment to Credit Agreement. To the extent that consent of the Noteholders is required, the Noteholders hereby consent to the Fifth Amendment to Amended and Restated Credit Agreement dated as of the date hereof by and among the Credit Parties, the Lenders, the Administrative Agent and the Collateral Agent.
13. Acknowledgment of Reserve Event Period. Notwithstanding anything to the contrary contained herein, the 11.00% per annum interest rate otherwise applicable to the Issued Notes increased to 12.50% per annum, effective as of November 24, 2009, due to the commencement of a Reserve Event Period, which shall be deemed to have occurred on November 24, 2009. Such 1.50% per annum interest rate increase shall continue until the termination of the Reserve Event Period in accordance with the Note Agreement, and if so terminated, the interest rate increase shall be reinstated upon the commencement of a new Reserve Event Period in accordance with Section 1.8 of the Note Agreement. Nothing contained herein shall limit or otherwise modify the provisions of Section 1.8 of the Note Agreement. To the extent that the Credit Parties were entitled to any notice by the Noteholders of the commencement of the existing Reserve Event Period pursuant to Section 1.8 of the Note Agreement, each of the Credit Parties hereby waives any such notice.
[SIGNATURE PAGES FOLLOW]
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IN WITNESS WHEREOF, the parties hereto, by their respective duly authorized officers, have executed this Fifth Amendment to Amended and Restated Note Purchase Agreement as of the date first above written.
| General Partner: | ||
| STONEMOR GP LLC | ||
| By: | /s/ Xxxx Xxxxxxxx | |
| Name: | Xxxx Xxxxxxxx | |
| Title: | Vice President | |
| Parent: | ||
| STONEMOR PARTNERS L.P. | ||
| By: | STONEMOR GP LLC | |
| its General Partner | ||
| By: | /s/ Xxxx Xxxxxxxx | |
| Name: | Xxxx Xxxxxxxx | |
| Title: | Vice President | |
| Company: | ||
| STONEMOR OPERATING LLC | ||
| By: | /s/ Xxxx Xxxxxxxx | |
| Name: | Xxxx Xxxxxxxx | |
| Title: | Vice President | |
[Signature page to Fifth Amendment to Amended and Restated Note Purchase Agreement - Stonemor]
Additional Credit Parties
Alleghany Memorial Park Subsidiary, Inc.
Altavista Memorial Park Subsidiary, Inc.
Arlington Development Company
Augusta Memorial Park Perpetual Care Company
Bethel Cemetery Association
Xxxx Israel Cemetery Association of Woodbridge, New Jersey
Birchlawn Burial Park Subsidiary, Inc.
Cedar Hill Funeral Home, Inc.
Cemetery Investments Subsidiary, Inc.
Clover Leaf Park Cemetery Association
Columbia Memorial Park Subsidiary, Inc.
Cornerstone Family Insurance Services, Inc.
Cornerstone Family Services of New Jersey, Inc.
Cornerstone Family Services of West Virginia Subsidiary, Inc.
Covenant Acquisition Subsidiary, Inc.
Crown Hill Cemetery Association
Xxxxxx X. Xxxxx Funeral Home, Inc.
Xxxx Haven Memorial Park Subsidiary, Inc.
Henlopen Memorial Park Subsidiary LLC
Xxxxx Memorial Park Subsidiary, Inc.
Highland Memorial Park, Inc.
Hillside Memorial Park Association, Inc.
KIRIS Subsidiary, Inc.
Lakewood/Xxxxxxxx Cemetery Subsidiary, Inc.
Lakewood Memory Gardens South Subsidiary, Inc.
Laurel Hill Memorial Park Subsidiary, Inc.
Laurelwood Holding Company
Legacy Estates, Inc.
Locustwood Cemetery Association
Xxxxxx [Virginia] Subsidiary, Inc.
Xxxxxxxx Xxxx Cemetery Subsidiary, Inc.
Modern Park Development Subsidiary, Inc.
Northlawn Memorial Gardens
Oak Hill Cemetery Subsidiary, Inc.
Ohio Cemetery Holdings, Inc.
Osiris Holding Finance Company
Osiris Holding of Maryland Subsidiary, Inc.
Osiris Holding of Rhode Island Subsidiary, Inc.
Osiris Management, Inc.
Osiris Telemarketing Corp.
| By: | /s/ Xxxx Xxxxxxxx |
Xxxx Xxxxxxxx, as Vice President of Finance for each of the above-named Credit Parties
[Signature page to Fifth Amendment to Amended and Restated Note Purchase Agreement - Stonemor]
Perpetual Xxxxxxx.Xxx, Inc.
PVD Acquisitions Subsidiary, Inc.
Rockbridge Memorial Gardens Subsidiary Company
Rose Lawn Cemeteries Subsidiary, Incorporated
Roselawn Development Subsidiary Corporation
Xxxxxxx Memorial Cemetery Subsidiary, Inc.
Shenandoah Memorial Park Subsidiary, Inc.
Sierra View Memorial Park
Southern Memorial Sales Subsidiary, Inc.
Springhill Memory Gardens Subsidiary, Inc.
Star City Memorial Sales Subsidiary, Inc.
Xxxxxxx X. Xxxx Funeral Home, Inc.
Xxxxxxx Subsidiary, Incorporated
StoneMor Alabama Subsidiary, Inc.
StoneMor California, Inc.
StoneMor California Subsidiary, Inc.
StoneMor Georgia Subsidiary, Inc.
StoneMor Hawaii Subsidiary, Inc.
StoneMor North Carolina Funeral Services, Inc.
StoneMor Ohio Subsidiary, Inc.
StoneMor Tennessee Subsidiary, Inc.
StoneMor Washington, Inc.
Sunset Memorial Gardens Subsidiary, Inc.
Sunset Memorial Park Subsidiary, Inc.
Temple Hill Subsidiary Corporation
The Valhalla Cemetery Subsidiary Corporation
Virginia Memorial Service Subsidiary Corporation
W N C Subsidiary, Inc.
Wicomico Memorial Parks Subsidiary, Inc.
Willowbrook Management Corp.
| By: | /s/ Xxxx Xxxxxxxx |
Xxxx Xxxxxxxx, as Vice President of Finance for each of the above-named Credit Parties
[Signature page to Fifth Amendment to Amended and Restated Note Purchase Agreement - Stonemor]
Alleghany Memorial Park LLC
Altavista Memorial Park LLC
Birchlawn Burial Park LLC
Cemetery Investments LLC
Cemetery Management Services, L.L.C.
Cemetery Management Services of Mid-Atlantic States, L.L.C.
Cemetery Management Services of Ohio, L.L.C.
Cemetery Management Services of Pennsylvania, L.L.C.
CMS West LLC
CMS West Subsidiary LLC
Columbia Memorial Park LLC
Cornerstone Family Services of West Virginia LLC
Cornerstone Funeral and Cremation Services LLC
Covenant Acquisition LLC
Xxxx Haven Memorial Park LLC
Henlopen Memorial Park LLC
Xxxxx Memorial Park LLC
Juniata Memorial Park LLC
KIRIS LLC
Lakewood/Xxxxxxxx Cemetery LLC
Lakewood Memory Gardens South LLC
Laurel Hill Memorial Park LLC
Xxxxxx [Virginia] LLC
Xxxxxxxx Xxxx Cemetery LLC
Modern Park Development LLC
Oak Hill Cemetery LLC
Osiris Holding of Maryland LLC
Osiris Holding of Pennsylvania LLC
Osiris Holding of Rhode Island LLC
PVD Acquisitions LLC
Rockbridge Memorial Gardens LLC
Rolling Green Memorial Park LLC
Rose Lawn Cemeteries LLC
Roselawn Development LLC
Xxxxxxx Memorial Cemetery LLC
Shenandoah Memorial Park LLC
Southern Memorial Sales LLC
Springhill Memory Gardens LLC
Star City Memorial Sales LLC
Xxxxxxx LLC
| By: | /s/ Xxxx Xxxxxxxx |
Xxxx Xxxxxxxx, as Vice President of Finance for each of the above-named Credit Parties
[Signature page to Fifth Amendment to Amended and Restated Note Purchase Agreement - Stonemor]
StoneMor Alabama LLC
StoneMor Arkansas Subsidiary LLC
StoneMor Cemetery Products LLC
StoneMor Colorado LLC
StoneMor Colorado Subsidiary LLC
StoneMor Florida Subsidiary LLC
StoneMor Georgia LLC
StoneMor Hawaii LLC
StoneMor Hawaiian Joint Venture Group LLC
StoneMor Holding of Pennsylvania LLC
StoneMor Illinois LLC
StoneMor Illinois Subsidiary LLC
StoneMor Indiana LLC
StoneMor Indiana Subsidiary LLC
StoneMor Iowa LLC
StoneMor Iowa Subsidiary LLC
StoneMor Kansas LLC
StoneMor Kansas Subsidiary LLC
StoneMor Kentucky LLC
StoneMor Kentucky Subsidiary LLC
StoneMor Michigan LLC
StoneMor Michigan Subsidiary LLC
StoneMor Missouri LLC
StoneMor Missouri Subsidiary LLC
StoneMor North Carolina LLC
StoneMor North Carolina Subsidiary LLC
StoneMor Ohio LLC
StoneMor Oregon LLC
StoneMor Oregon Subsidiary LLC
StoneMor Pennsylvania LLC
StoneMor Pennsylvania Subsidiary LLC
StoneMor Puerto Rico LLC
StoneMor Puerto Rico Subsidiary LLC
StoneMor South Carolina LLC
StoneMor South Carolina Subsidiary LLC
StoneMor Washington Subsidiary LLC
Sunset Memorial Gardens LLC
Sunset Memorial Park LLC
Temple Hill LLC
The Valhalla Cemetery Company LLC
Tioga County Memorial Gardens LLC
| By: | /s/ Xxxx Xxxxxxxx |
Xxxx Xxxxxxxx, as Vice President of Finance for each of the above-named Credit Parties
[Signature page to Fifth Amendment to Amended and Restated Note Purchase Agreement - Stonemor]
Virginia Memorial Service LLC
WNCI LLC
Wicomico Memorial Parks LLC
Woodlawn Memorial Park Subsidiary LLC
| By: | /s/ Xxxx Xxxxxxxx |
Xxxx Xxxxxxxx, as Vice President of Finance for each of the above-named Credit Parties
[Signature page to Fifth Amendment to Amended and Restated Note Purchase Agreement - Stonemor]
| THE PRUDENTIAL INSURANCE COMPANY OF AMERICA | ||
| By: | /s/ Xxxxxx X. Xxxxxxxx | |
| Name: | Xxxxxx X. Xxxxxxxx | |
| Title: | Vice President | |
| PRUCO LIFE INSURANCE COMPANY | ||
| By: | /s/ Xxxxxx X. Xxxxxxxx | |
| Name: | Xxxxxx X. Xxxxxxxx | |
| Title: | Assistant Vice President | |
[Signature page to Fifth Amendment to Amended and Restated Note Purchase Agreement - Stonemor]
EXHIBIT A
CONFIRMATION AND REAFFIRMATION OF GUARANTEE
Dated: January 15, 2010
Reference is made to that certain Amended and Restated Note Purchase Agreement, dated as of August 15, 2007 (the “Original Note Purchase Agreement”), by and among StoneMor GP LLC, a Delaware limited liability company (the “General Partner”), StoneMor Partners L.P., a Delaware limited partnership (the “Parent”), StoneMor Operating LLC, a Delaware limited liability company (the “Company”), and each other Subsidiary of the Parent listed on the signature pages thereof under the heading “Subsidiary Issuers” (collectively, the “Subsidiary Issuers”, and together with the Company, collectively, the “Issuers”, and together with the General Partner and the Parent, collectively, the “Credit Parties”) and each of the purchasers listed on Schedule A attached thereto (collectively, the “Purchasers,” and together with their successors and assigns, including without limitation, future holders of the Shelf Notes, herein collectively referred to as the “Noteholders”), as amended by that certain First Amendment to Amended and Restated Note Purchase Agreement, dated November 2, 2007, by and among the Credit Parties and the Noteholders (the “First Amendment”), that certain Second Amendment to Amended and Restated Note Purchase Agreement, dated April 30, 2009, by and among the Credit Parties and the Noteholders (the “Second Amendment”), that certain Third Amendment to Amended and Restated Note Purchase Agreement, dated July 1, 2009, by and among the Credit Parties and the Noteholders (the “Third Amendment”), and that certain Fourth Amendment to Amended and Restated Note Purchase Agreement, dated November 24, 2009, by and among the Credit Parties and the Noteholders (the “Fourth Amendment”, and the Original Note Purchase Agreement, as amended by the First Amendment, the Second Amendment, the Third Amendment and the Fourth Amendment, the “Existing Note Purchase Agreement”), pursuant to which the Issuers, among other things, issued to the Purchasers their (a) 11.00% Series B Senior Secured Notes due August 15, 2012, in the aggregate principal amount of $35,000,000 (the “Series B Notes”), of which $17,500,000 remains outstanding after prepayment of the Series B Notes held by iStar Xxxx LLC in connection with the Fourth Amendment, and (b) 11.00% Senior Secured Series C Notes due August 15, 2012, in the aggregate principal amount of $17,500,000 (the “Series C Notes”, and together with the Series B Notes, the “Notes”).
The Existing Note Purchase Agreement is being amended pursuant to the terms of that certain Fifth Amendment to Amended and Restated Note Purchase Agreement of even date herewith by and among the Credit Parties and the Noteholders (the “Fifth Amendment”, and the Existing Note Purchase Agreement as amended by the Fifth Amendment, the “Note Purchase Agreement”) to, among other things, increase the maximum permitted Consolidated Leverage Ratio for the first half of 2010. Capitalized terms not herein defined shall have the respective meanings assigned to them in the Note Purchase Agreement.
Each of the Parent and the General Partner are parties to the Guarantee Agreement dated as of September 20, 2004 in favor of the Noteholders (the “Guarantee Agreement”). Each of
Exhibit A-1
the Parent and the General Partner hereby (i) acknowledges receipt of a copy of the Fifth Amendment, (ii) consents to the Issuers’ execution and delivery of the Fifth Amendment, (iii) acknowledges and agrees that, the Guaranteed Obligations (as such term defined in the Guarantee Agreement) include obligations in respect of the Note Purchase Agreement, the outstanding Notes and any Shelf Notes that may be issued in the future, and to that extent, the Guarantee Agreement shall be deemed to have been amended, and (iv) acknowledges and agrees that the Guarantee Agreement is in full force and effect and, except as provided in the foregoing clause (iii), is unamended.
Although each of the Parent and the General Partner has been informed of the matters set forth herein and has acknowledged and agreed to the same, each of the Parent and the General Partner understands that the Noteholders have no obligation to inform the Parent or the General Partner of such matters in the future or to seek the acknowledgment or agreement to future amendments, waivers or consents by the Parent or General Partner, and nothing herein shall create such a duty.
Each of the Parent and General Partner also represents and warrants to the Noteholders that all of the representations and warranties made by the Parent or the General Partner in the Guarantee Agreement are true and correct in all material respects on the date hereof as if made on and as of the date hereof, except to the extent that any of such representations and warranties relate by their terms to a prior date (which remain true and correct as of such prior date).
[Remainder of page intentionally left blank; next page is signature page.]
Exhibit A-2
IN WITNESS WHEREOF, each of the Parent and General Partner has caused this Confirmation and Reaffirmation of Guarantee to be executed on its behalf, as of the date first above written, by one of its duly authorized officers.
| STONEMOR PARTNERS L.P. | ||||
| By: | STONEMOR GP LLC | |||
| its General Partner | ||||
| By: |
| |||
| Name: | Xxxx Xxxxxxxx | |||
| Title: | Vice President | |||
| STONEMOR GP LLC | ||||
| By: |
| |||
| Name: | Xxxx Xxxxxxxx | |||
| Title: | Vice President | |||
Exhibit A-3
