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EXHIBIT 4
EXECUTION COPY
SECOND REPLACEMENT AND RESTATEMENT AGREEMENT,
dated as of July 13, 1998, among THE GOODYEAR TIRE &
RUBBER COMPANY, an Ohio corporation (the "Borrower"),
the undersigned lenders (the "Lenders") and THE CHASE
MANHATTAN BANK, a New York banking corporation, as
agent for the Lenders (in such capacity, the
"Agent").
WHEREAS, the parties hereto desire to replace and restate the
Revolving Credit Facility Agreement, dated as of July 15, 1994, among the
Borrower, the Lenders named therein and the Agent, as replaced and restated by
the Replacement and Restatement Agreement, dated July 15, 1996, as amended,
among the Borrower, the Lenders named therein and the Agent (the "Agreement") on
the terms and conditions set forth herein;
NOW, THEREFORE, for and in consideration of the premises and
other valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree, on the terms and subject to the
conditions set forth herein, as follows:
1. Subject to the conditions set forth in Section 7, the
Agreement, including all schedules and exhibits thereto, is hereby replaced and
restated as of the date hereof in the form of a new agreement (the "New
Agreement") identical to the Agreement except as expressly provided herein, and
all rights and obligations of the Borrower, the Lenders and the Agent under the
Agreement (including accrued Fees) shall continue as rights and obligations of
such parties under the New Agreement, modified as expressly provided herein.
2. The New Agreement shall be dated as of July 13, 1998 (which
shall constitute the "date hereof" in respect of the New Agreement); the date
"July 15, 2001" in the definition of the term "Maturity Date" in Section 1.01 of
the Agreement is hereby deleted and replaced by inserting the date "July 13,
2003" in lieu thereof.
3. The definitions of "Facility Fee Percentage" and "Leverage
Ratio" in Section 1.01 of the Agreement are hereby reaffirmed to read as
follows:
""FACILITY FEE PERCENTAGE" shall mean, as at the date as of
which any determination in respect thereof is being or to be made, the
applicable percentage set forth below based upon the Leverage Ratio as
of the last day of the relevant fiscal quarter:
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Leverage Ratio Facility Fee Percentage
-------------- -----------------------
------------------------------------------------ -----------------------------------------------
less than or equal to 25% 0.0750%
------------------------------------------------ -----------------------------------------------
greater than 25% but less than or equal to 40% 0.1000%
------------------------------------------------ -----------------------------------------------
greater than 40% but less than or equal to 55% 0.1250%
------------------------------------------------ -----------------------------------------------
greater than 55% 0.1500%
------------------------------------------------ -----------------------------------------------
The Leverage Ratio shall be determined at the end of each calendar
quarter of Borrower and shall be effective in respect of the entire
next succeeding calendar quarter of Borrower. The Borrower shall
deliver a certificate setting forth the calculation of the leverage
ratio with respect to the end of each calendar quarter within 60 days
after the end of such calendar quarter."
""LEVERAGE RATIO" shall mean, as at the end of any fiscal
quarter in respect of which a determination thereof is being or to be
made, the quotient (expressed as a percentage) of (a) the sum of (i)
"notes payable to banks and overdrafts", plus (ii) "long term debt due
within one year", plus (iii) "long term debt and capital leases" (as
each such item is reported on the Consolidated balance sheet of the
Borrower and the Subsidiaries as at the end of such fiscal quarter),
plus (iv) the net proceeds from the sale of domestic accounts
receivable outstanding at the end of such fiscal quarter (determined in
a manner consistent with that used in preparing the Borrower's 1993
Annual Report on Form 10-K), DIVIDED BY (b) the sum of (i) Consolidated
Net Worth (without giving effect to the exclusion contained in clause
(ii) of the definition of the term "Consolidated Net Worth" and without
giving effect to the $499.3 million after-tax writedown of the
Borrower's Oil Transportation Segment assets in December of 1996), plus
(ii) the sum obtained pursuant to clause (a) above."
4. The table in the definition of "Spread" in Section 1.01 of
the Agreement is hereby reaffirmed to read as follows:
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"Leverage Ratio Spread
--------------- ------
------------------------------------------------ -----------------------------------------------
less than or equal to 25% 0.1500%
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greater than 25% but less than or equal to 40%
0.2000%
------------------------------------------------ -----------------------------------------------
greater than 40% but less than or equal to 55%
0.2500%
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greater than 55% 0.3000%"
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5. Schedule 2.01 to the Agreement is hereby deleted and
replaced by Schedule 2.01 hereto.
6. The representations and warranties set forth in Article III
of the Agreement shall be deemed to have been repeated in the New Agreement on
and as of the date hereof, with all references therein to "this Agreement" being
deemed to refer to the New Agreement, which is the Agreement as modified by this
Second Replacement and Restatement Agreement.
7. The New Agreement shall become effective, as of the date
hereof, only upon the satisfaction of the following conditions:
(a) The Agent shall have received an opinion of counsel for
the Borrower, dated the date hereof, in the form attached as Exhibit B
to the Agreement, but with all references therein being to the New
Agreement.
(b) The Agent shall have received evidence reasonably
satisfactory to it of the Borrower's corporate power and authority to
enter into the New Agreement.
(c) The Agent shall have received counterparts of this Second
Replacement and Restatement Agreement executed on behalf of the
Borrower and each Lender.
8. This Second Replacement and Restatement Agreement may be
executed in two or more counterparts, any one of which need not contain the
signatures of more than one party, but all which taken together will constitute
one and the same agreement.
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9. THIS SECOND REPLACEMENT AND RESTATEMENT AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.
IN WITNESS WHEREOF, the Borrower, the Agent and the Lenders
have caused this Agreement to be duly executed by their respective authorized
officers as of the day and year first above written.
THE GOODYEAR TIRE & RUBBER COMPANY,
by
/s/Xxxxxxx X. Xxxxxx
-----------------------------------
Name: Xxxxxxx X. Xxxxxx
Title: Vice President and
Treasurer
THE CHASE MANHATTAN BANK,
individually and as Agent,
by
/s/ Xxxxx X. Xxxx
----------------------------------
Name: Xxxxx X. Xxxx
Title: Vice President
BANK OF AMERICA NT&SA, COMMERZBANK AG,
by by
/s/ Xxxx X. Xxxxxxx /s/ Xxxx Xxxx/Xxxxxxx Xxxxxx
---------------------------------- ----------------------------------
Name: Xxxx X. Xxxxxxx Name: Xxxx Xxxx
Title: Managing Director Title: Assistant Treasurer
Name: Xxxxxxx Xxxxxx
BANQUE NATIONALE DE PARIS, Title: Vice President
by THE SUMITOMO BANK LTD.,
/s/ Xxxxxx Xxxxxx du Xxxxxx
-----------------------------------
Name: Xxxxxx Xxxxxx du Bocage by
Title: Executive Vice President /s/ Xxxxxxxxx Xxxxx
& General Mgr. -----------------------------------
Name: Xxxxxxxxx Xxxxx
Title: Joint General Manager
CIBC INC., FIRST NATIONAL BANK OF CHICAGO,
by by
/s/Xxxxxxxxx X. Xxxxxx /s/ Xxxxxxx X. McGaffrey
----------------------------------- ----------------------------------
Name: Xxxxxxxxx X. Xxxxxx Name: Xxxxxxx X. McGaffrey
Title: Executive Director Title: Vice President
CIBC Xxxxxxxxxxx Corp.,
As Agent
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BANK OF TOKYO-MITSUBISHI, Trust THE INDUSTRIAL BANK OF JAPAN LTD.,
Company
by
by /s/ Xxxxxx X. Xxxxx
----------------------------------------
/s/ Xxxxxxxxx X. Xxxxx Name: Xxxxxx X. Xxxxx
-----------------------------
Name: Xxxxxxxxx X. Xxxxx Title: Joint General Manager
Title: Vice President
CITICORP USA, INC., NATIONSBANK, NA,
by by
/s/ Xxxxxx X. Xxxxxx /s/ Xxxxxx X. Xxxxxx
---------------------------- ---------------------------------------
Name: Xxxxxx X. Xxxxxx Name: Xxxxxx X. Xxxxxx
Title: Citicorp USA, Inc. Title: Vice President
Attorney-in-Fact
CREDIT SUISSE FIRST BOSTON, ROYAL BANK OF CANADA,
by by
/s/ Xxxxx X. Xxxxxxxx /s/ Xxxxxxx X. Xxxxx
---------------------------- --------------------------------------
Name: Xxxxx X. Xxxxxxxx Name: Xxxxxxx X. Xxxxx
Title: Director Title: Vice President
/s/ Xxxxx X. Xxxxxx SANWA BANK LTD.,
----------------------------
Name: Xxxxx X. Xxxxxx
Title: Vice President by
/s/ Xxxxxxx X. Xxxxxxxx
----------------------------------------
CREDIT LYONNAIS, Name: Xxxxxxx X. Xxxxxxxx
Title: First Vice President and
by Assistant General
/s/ Xxxx X. Xxxxx Manager
----------------------------
Name: Xxxx X. Xxxxx
Title: Vice President
DEUTSCHE BANK AG, NEW YORK BRANCH SOCIETE GENERALE,
AND/OR CAYMAN ISLAND BRANCH,
by
by /s/ Xxxx Xxxxxxxxx
---------------------------------------
/s/ Xxxx-Xxxxx Xxxxxx Name: Xxxx Xxxxxxxxx
----------------------------
Name: Xxxx-Xxxxx Xxxxxx Title: Director
Title: Director
/s/ Xxxxxxx X. Xxxxxxxxx
----------------------------
Name: Xxxxxxx X. Xxxxxxxxx
Title: Xxxxxxxx
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ABN AMRO BANK, N.V., NORTHERN TRUST COMPANY,
by by
/s/ Xxxx X. Xxxxxxxxx/ /s/ Xxxxx X. Toulouse
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Xxxxx X. Xxxxxx Name: Xxxxx X. Toulouse
-------------------------------
Name: Xxxx X. Xxxxxxxxx Title: Vice President
Title: Group Vice President
Name: Xxxxx X. Xxxxxx KEY BANK NATIONAL ASSOCIATION,
Title: Group Vice President
by
BARCLAYS BANK PLC, /s/ Xxxxxx X. Xxxxx
-----------------------------------
Name: Xxxxxx X. Xxxxx
by Title: Assistant Vice President
/s/ L. Xxxxx Xxxxxx
---------------------------------
Name: L. Xxxxx Xxxxxx
Title: Associate Director
THE DAI-ICHI KANGYO BANK LTD.,
by
/s/ Yunao Hiaita
---------------------------------
Name: Yunao Hiaita
Title: Vice President
DRESDNER BANK LUXEMBOURG S.A.,
by
/s/ X. Xxxxxxxxx
---------------------------------
Name: X. Xxxxxxxxx
Title: Manager Global Finance
/s/ X.X. Xxxxxxxxxx
---------------------------------
Name: X.X. Xxxxxxxxxx
Title: Officer Global Finance
NATIONAL CITY BANK,
by
/s/ Xxxxxxx X. Xxxxxxx
---------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Vice President
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SCHEDULE 2.01
FIVE-YEAR FACILITY
Contact Person
and Telephone
Name and Address and Telecopy Numbers Commitment
---------------- -------------------- ----------
of Lender
---------
The Chase Manhattan Bank Xxxxx X. Xxx $63,000,000
000 Xxxx Xxxxxx Tel: (000) 000-0000
Xxx Xxxx, XX 00000 Fax: (000) 000-0000
Bank of America Illinois Xxxx Xxxxxxx $28,000,000
000 Xxxxx XxXxxxx Xxxxxx Tel: (000) 000-0000
Xxxxxxx, XX 00000 Fax: (000) 000-0000
Banque Nationale de Paris Xxxxxxxxx Xxxxx $43,400,000
Xxxxxxx Xxxx, 0xx Xxxxx Tel: (000) 000-0000
000 Xxxxx XxXxxxx Xxxxxx Fax: (000) 000-0000
Xxxxxxx, XX 00000
CIBC Inc. Xxxxxxxxx X. XxXxxx $43,400,000
000 Xxxxxxxxx Xxxxxx Tel: (000) 000-0000
Xxx Xxxx, XX 00000 Fax: (000) 000-0000
Commerzbank AG Xxxx Xxxx $43,400,000
000 Xxxxx Xxxxxx Xxxxx Tel: (000) 000-0000
Suite 5800 Fax: (000) 000-0000
Xxxxxxx, XX 00000
The Sumitomo Bank Ltd. Xxxxxx Xxxxxx $43,400,000
U.S. Corporate Department Tel: (000) 000-0000
000 Xxxx Xxxxxx Fax: (000) 000-0000
0xx Xxxxx
Xxx Xxxx, XX 00000
First National Bank Xxxx Xxxxxx $43,400,000
of Chicago Tel: (000) 000-0000
000 Xxxxxxxx Xxxxxx Fax: (000) 000-0000
Xxxxxxx, XX 00000
Bank of Tokyo-Mitsubishi Xxxxxxxxx X. Xxxxx $28,000,000
1251 Avenue of the Tel: (000) 000-0000
Americas, 12th Floor Fax: (000) 000-0000
Xxx Xxxx, XX 00000-0000
Citicorp USA, Inc. Xxxxx Xxx $28,000,000
000 Xxxx Xxxxxx Tel: (000) 000-0000
Xxx Xxxx, XX 00000 Fax: (000) 000-0000
Credit Suisse First Xxxxx Xxxxxxxx $28,000,000
Boston Tel: (000) 000-0000
00 Xxxxxxx Xxxxxx Fax: (000) 000-0000
00xx Xxxxx
Xxx Xxxx, XX 00000-0000
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Contact Person
and Telephone
Name and Address and Telecopy Numbers Commitment
---------------- -------------------- ----------
of Lender
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Credit Lyonnais Xxxx Xxxxx $28,000,000
000 X. Xxxxxx Xxxxxx Tel: (000) 000-0000
Suite 3800 Fax: (000) 000-0000
Xxxxxxx, XX 00000
Deutsche Bank AG, Xxxx-Xxxxx Xxxxxx $28,000,000
New York Branch and/or Tel: (000) 000-0000
Cayman Island Branch Fax: (000) 000-0000
00 Xxxx 00xx Xxxxxx
Xxx Xxxx, XX 00000
The Industrial Bank Xxxxxx Xxxx $28,000,000
of Japan Ltd. Tel: (000) 000-0000
000 X. Xxxxxx Xxxxxx Fax: (000) 000-0000
Xxxxxxx, XX 00000
NationsBank, NA Xxx Xxxxxxxx $28,000,000
NC 1007-08-04 Tel: (000) 000-0000
000 X. Xxxxx Xxxxxx Fax: (000) 000-0000
Xxxxxxxxx, XX 00000-0000
Royal Bank of Canada Xxxxxx Xxxxxxxx $28,000,000
Corporate Banking Tel: (000) 000-0000
Xxx Xxxxx Xxxxxxxx Xxxxxx Fax: (000) 000-0000
Xxxxx 000
Xxxxxxx, XX 00000
Sanwa Bank Ltd. Xxxxxxx Xxxxxxxx $17,500,000
00 Xxxxx Xxxxxx Xxxxx Tel: (000) 000-0000
31st Floor Fax: (000) 000-0000
Xxxxxxx, XX 00000
Societe Generale Xxxx Xxxxxxxxx $28,000,000
000 X. Xxxxxxx Xxxxxx Tel: (000) 000-0000
Suite 3400 Fax: (000) 000-0000
Xxxxxxx, XX 00000
ABN AMRO Bank, N.V. Xxxx Xxxxxxxxx $17,500,000
000 Xxxxx XxXxxxx Xxxxxx Tel: (000) 000-0000
Xxxxx 000 Fax: (000) 000-0000
Xxxxxxx, XX 00000
Barclays Bank Plc Xxxxx Xxxxxx $17,500,000
000 Xxxxxxxx, 00xx Xxxxx Tel: (000) 000-0000
Xxx Xxxx, XX 00000 Fax: (000) 000-0000
The Dai-Ichi Kangyo Xxxxxx Xxxxxx $17,500,000
Bank Ltd. Tel: (000) 000-0000
00 Xxxxx Xxxxxx Xxxxx Fax: (000) 000-0000
00xx Xxxxx
Xxxxxxx, XX 00000
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Contact Person
and Telephone
Name and Address and Telecopy Numbers Commitment
---------------- -------------------- ----------
of Lender
---------
Dresdner Bank Xxxxx Xxxxxxxxx $17,500,000
Luxembourg S.A. Tel: 000-000-0000-000
00, xxx xx Xxxxxx'-xxx- Fax: 000-000-0000-000
Herbes
X-0000 Xxxxxxxxxx
Xxxxxxxxxx
National City Bank Xxxx Xxxxxxx $17,500,000
0000 Xxxx Xxxxx Xx. Tel: (000) 000-0000
Xxxxxxxxx, XX 00000-0000 Fax: (000) 000-0000
Northern Trust Company Xxxxxx Xxxxxx $17,500,000
00 Xxxxx XxXxxxx Xxxxxx Tel: (000) 000-0000
Xxxxxxx, XX 00000 Fax: (000) 000-0000
Key Bank National Association Xxxxxxxx XxxXxxxxx $17,500,000
000 Xxxxxx Xxxxxx Tel: (000) 000-0000
011-01-27-0606 Fax: (000) 000-0000
Xxxxxxxxx, XX 00000-0000
Total $700,000,000
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