FIRST AMENDMENT TO CREDIT AGREEMENT
EXHIBIT 10.1
FIRST AMENDMENT TO CREDIT AGREEMENT
This First Amendment (“Amendment”) is made as of the 22nd day of May, 2006 by and
between Tufco, L.P. (“Borrower”), Tufco Technologies, Inc. (“Parent”), Associated Bank Green Bay,
NA, U.S. Bank, NA and JPMorgan Chase Bank, N.A. (successor by merger to Bank One, NA) (collectively
the “Banks”) with JPMorgan Chase Bank, N.A. serving individually as a Bank and as Agent for itself
and the other Banks.
RECITALS
The parties entered into a Credit Agreement dated as of May 20, 2004 (“Credit Agreement”).
The parties desire to amend the Credit Agreement as set forth herein.
NOW, THEREFORE, the parties hereto agree as follows:
| 1. | Capitalized terms not defined herein shall have the meaning ascribed in the Credit Agreement. | ||
| 2. | All references to Bank One in the Credit Agreement are changed to mean JPMorgan Chase Bank. All references to Bank One, NA in the Credit Agreement are changed to mean JPMorgan Chase Bank, N.A. | ||
| 3. | In Article 1, Section 1.1 of the Credit Agreement the Revolving Termination Date is changed from May 18, 2007 to May 18, 2008. | ||
| 4. | This Amendment is a modification only and not a novation. | ||
| 5. | Except for the above stated amendments, the Credit Agreement shall be and remain in full force and effect with the changes herein deemed to be incorporated therein. This Amendment is to be considered attached to the Credit Agreement and made a part thereof. | ||
| 6. | The parties acknowledge and agree that this Amendment is limited to the terms above stated and shall not be construed as an amendment of any other terms or provisions of the Credit Agreement. The parties hereby specifically ratify and affirm the terms and provisions of the Credit Agreement except as herein changed. This Amendment shall not establish a course of dealing or be construed as evidence of any willingness on the Banks’ part to grant other or future amendments, should any be requested. | ||
| 7. | The Borrower agrees to pay all fees and out of pocket disbursements incurred by the Banks in connection with this Amendment. |
IN WITNESS WHEREOF, the parties have entered into this Amendment as of the day and year first
above written.
| BORROWER AND PARENT: | ||||||||
| TUFCO, L.P. | ||||||||
| By: Tufco LLC, its | ||||||||
| Managing General Partner | ||||||||
| By: Tufco Technologies, Inc. | ||||||||
| Its Sole Managing Member | ||||||||
| By: | /s/ Xxxxxxx X. Xxxxxxx | |||||||
| Xxxxxxx X. Xxxxxxx | ||||||||
| Authorized Officer for the Managing Member | ||||||||
| TUFCO TECHNOLOGIES, INC. | ||||||||
| By: | /s/ Xxxxxxx X. Xxxxxxx | |||||||
| Xxxxxxx X. Xxxxxxx | ||||||||
| Chief Financial Officer, Vice President and Secretary | ||||||||
| AGENT: | ||||||||
| JPMORGAN CHASE BANK, N.A., individually | ||||||||
| as a Bank and as the Agent | ||||||||
| By: | /s/ Xxxx X. Xxxxxxx | |||||||
| Xxxx X. Xxxxxxx, Vice President | ||||||||
| BANK: ASSOCIATED BANK GREEN BAY, NA | ||||||||
| By: | /s/ Xxxxxxx X. Xxxxxxxx | |||||||
| Printed Name: Xxxxxxx X. Xxxxxxxx | ||||||||
| Title: Vice President | ||||||||
| BANK: U.S. BANK, NA | ||||||||
| By: | /s/ Xxxxxx X. Xxxxxxxx | |||||||
| Printed Name: Xxxxxx X. Xxxxxxxx | ||||||||
| Title: Vice President | ||||||||
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The undersigned Guarantors consent to the foregoing Amendment and acknowledge the continuing
validity and enforceability of the Guaranties.
| GUARANTORS: | ||||||
| TUFCO TECHNOLOGIES, INC. | ||||||
| By: | /s/ Xxxxxxx X. Xxxxxxx | |||||
| Xxxxxxx X. Xxxxxxx | ||||||
| Chief Financial Officer, Vice President and Secretary | ||||||
| TUFCO LLC | ||||||
| By: Tufco Technologies, Inc., | ||||||
| Its Sole Member | ||||||
| By: | /s/ Xxxxxxx X. Xxxxxxx | |||||
| Xxxxxxx X. Xxxxxxx | ||||||
| Authorized Officer of the Managing Member | ||||||
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