Exhibit 10.16
CONFORMED COPY
THIRD AMENDMENT (this "Amendment")
dated as of April 5, 2000 to the Credit
Agreement dated as of January 21, 1998 (as
previously amended, the "Credit Agreement"),
among XXXXXX SCIENTIFIC INTERNATIONAL INC.
(the "Company"), certain Subsidiaries of the
Company, the lenders from time to time party
thereto, THE CHASE MANHATTAN BANK, as
Administrative Agent, THE CHASE MANHATTAN
BANK OF CANADA, as Canadian Administrative
Agent, CHASE MANHATTAN INTERNATIONAL
LIMITED, as U. K. Administrative Agent,
XXXXXXX XXXXX CAPITAL CORPORATION, as
Syndication Agent and DLJ CAPITAL FUNDING,
INC. as Documentation Agent.
A. Capitalized terms used and not otherwise defined herein shall have
the meanings assigned to them in the Credit Agreement.
B. Pursuant to the Credit Agreement, the Banks have extended credit to
the Borrowers, and have agreed to extend credit to the Borrowers, in each case
pursuant to the terms and subject to the conditions set forth therein.
C. The Company intends to repurchase shares of its capital stock for an
aggregate purchase price not to exceed $10.0 million.
D. The Company has requested that the Banks amend the Credit Agreement.
E. The Required Banks are willing to agree to such amendment and grant
such consent, in each case subject to the terms and conditions set forth herein.
Accordingly, the parties hereto agree as follows:
SECTION 1. AMENDMENT. (a) Section 8.07 of the Credit Agreement is
hereby amended by:
(i) deleting the text "and;" following the text "$60,000,000" in Clause
(g) thereof;
(ii) replacing the period after the words "Xxxxxx Technology Group"
with the text "; and" in Clause (h) thereof; and
(iii) adding the following new clause at the end thereof:
(i) the Company will be permitted to repurchase shares of its capital
stock; PROVIDED that such purchases pursuant to this Clause
(i) shall not exceed $10,000,000 during the term of this Agreement.
SECTION 2. REPRESENTATIONS AND WARRANTIES. Each of the Borrowers hereby
represents and warrants to each Bank, on and as of the date hereof, that:
(a) This Amendment has been duly authorized, executed and delivered by
each Borrower, and each of this Amendment and the Credit Agreement as amended by
this Amendment constitutes a legal, valid and binding obligation of each
Borrower, enforceable in accordance with its terms, except to the extent that
the enforceability thereof may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws generally affecting creditors' rights
and by equitable principles (regardless of whether enforcement is sought in
equity or at law).
(b) The representations and warranties of the Borrowers contained in
the Credit Agreement are true and correct in all material respects on and as of
the date hereof.
(c) After giving effect to this Amendment, no Default has occurred and
is continuing.
SECTION 3. EFFECTIVENESS. This Amendment shall become effective on the
date (the "Amendment Effective Date") that each of the following conditions is
met:
(a) The Administrative Agent shall have received counterparts hereof
signed by each Borrower and the Required Banks.
(b) The Administrative Agent shall have received interest, fees and
other amounts due and payable under this Amendment and the Credit Agreement on
or prior to the Amendment Effective Date including, to the extent invoiced, all
reasonable out of pocket costs and expenses of the Administrative Agent
(including, without limitation, the reasonable fees of Cravath, Swaine & Xxxxx,
counsel for the Administrative Agent).
SECTION 4. EXPENSES. The Company acknowledges that Section 12.01 of the
Credit Agreement applies to this Amendment and hereby agrees to pay all
out-of-pocket expenses reasonably incurred by the Administrative Agent,
including the reasonable fees, charges and disbursements of Cravath, Swaine &
Xxxxx, counsel for the Administrative Agent, in connection with the preparation,
execution and delivery of this Amendment.
SECTION 5. MISCELLANEOUS. (a) This Amendment constitutes the entire
agreement and understanding of the parties with respect to the subject matter
hereof and supersedes any and all prior agreements and understandings, oral or
written, relating to the subject matter hereof.
(b) Section headings used herein are for convenience of reference only
and are not to affect the construction of, or to be taken into consideration in
interpreting, this Amendment.
(c) THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED
BY THE LAW OF THE STATE OF NEW YORK.
(d) Each reference to a party hereto shall be deemed to include its
successors and assigns, all of whom shall be bound by this Amendment and to
whose benefit the provisions of this Amendment shall inure.
(e) This Amendment may be executed in any number of counterparts, each
of which shall be an original but all
of which, when taken together, shall constitute but one instrument.
(f) Except as specifically amended or modified hereby, the Credit
Agreement shall continue in full force and effect in accordance with the
provisions thereof.
5
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
be duly executed by their respective authorized officers as of the date first
above written.
XXXXXX SCIENTIFIC
INTERNATIONAL INC.,
By: /s/ Xxxx X. Xxxxxxx
----------------------------------
Name: Xxxx X. Xxxxxxx
Title: Vice President,
General Counsel,
Secretary
XXXXXX SCIENTIFIC U.K.,
LIMITED,
By: /s/ Xxxxxxx X. Luhianuk
----------------------------------
Name: Xxxxxxx X. Luhianuk
Title: Attorney-in-Fact
XXXXXX SCIENTIFIC LIMITED,
By: /s/ Xxxx X. Xxxxxxx
----------------------------------
Name: Xxxx X. Xxxxxxx
Title: Vice President,
General Counsel,
Secretary
ACROS ORGANICS N.V.,
By: /s/ Xxxxxxx X. Luhianuk
----------------------------------
Name: Xxxxxxx X. Luhianuk
Title: Attorney-in-Fact
XXXXXX SCIENTIFIC S.A.,
By: /s/ Xxxxx X. Xxxxxxxx
----------------------------------
Name: Xxxxx X. Xxxxxxxx
Title: Administrator
XXXXXX SCIENTIFIC GmbH,
By: /s/ Xxxxxxx X. Luhianuk
----------------------------------
Name: Xxxxxxx X. Luhianuk
Title: Attorney-in-Fact
XXXXXX SCIENTIFIC KOREA LTD.,
By: /s/ Xxxxxxx X. Luhianuk
----------------------------------
Name: Xxxxxxx X. Luhianuk
Title: Attorney-in-Fact
XXXXXX SCIENTIFIC B.V.,
By: /s/ Xxxxxxx X. Luhianuk
----------------------------------
Name: Xxxxxxx X. Luhianuk
Title: Attorney-in-Fact
CASA ROCAS S.A. DE C.V.,
By: /s/ Xxxxxxx X. Luhianuk
----------------------------------
Name: Xxxxxxx X. Luhianuk
Title: Attorney-in-Fact
XXXXXX GENETICS ASIA Pte Ltd.,
By: /s/ Xxxxxxx X. Luhianuk
----------------------------------
Name: Xxxxxxx X. Luhianuk
Title: Attorney-in-Fact
XXXXXX SCIENTIFIC Pte Ltd.,
By: /s/ Xxxxxxx X. Luhianuk
----------------------------------
Name: Xxxxxxx X. Luhianuk
Title: Attorney-in-Fact
XXXXXXX XX,
By: /s/ Xxxxx X. Xxxxxxxx
----------------------------------
Name: Xxxxx X. Xxxxxxxx
Title: Administrator
THE CHASE MANHATTAN BANK, as
Administrative Agent and as a
Bank,
By: /s/ Xxxxxx Xxxxxx
----------------------------------
Name: Xxxxxx Xxxxxx
Title: Vice President
XXXXXXX XXXXX CAPITAL
CORPORATION, as Syndication
Agent and as a Bank,
By: /s/ Xxxxx X.X. Xxxxxx
----------------------------------
Name: Xxxxx X.X. Xxxxxx
Title: Vice President
DLJ CAPITAL FUNDING, INC., as
Documentation Agent and as a
Bank,
By: /s/ Xxxx X. Xxxxx
----------------------------------
Name: Xxxx X. Xxxxx
Title: Senior Vice President
ABN AMRO BANK N.V.,
By: /s/ Xxxxx X. Aldensharm
----------------------------------
Name: Xxxxx X. Aldensharm
Title: Group Vice President
By: /s/ Xxxxxxx Xxxxxx
----------------------------------
Name: Xxxxxxx Xxxxxx
Title: Vice President
ALLIANCE INVESTMENTS LIMITED,
By: /s/ Xxxxx X. Xxxxxxx, Xx.
----------------------------------
Name: Xxxxx X. Xxxxxxx, Xx.
Title: Authorized Signatory
ARCHIMEDES FUNDING II, LTD.,
By:
----------------------------------
Name:
Title:
AVALON CAPITAL LTD.,
By:
----------------------------------
Name:
Title:
BANKBOSTON, N.A.,
By: /s/ Xxxxxxx X. Xxxxxx
----------------------------------
Name: Xxxxxxx X. Xxxxxx
Title: Vice President
BANK OF AMERICA, N.A.,
By: /s/ Xxxx X. Xxxxxxxx
----------------------------------
Name: Xxxx X. Xxxxxxxx
Title: Managing Director
THE BANK OF NOVA SCOTIA,
By: /s/ X. X. Xxxxxxx
----------------------------------
Name: X. X. Xxxxxxx
Title: Authorized Signatory
BANK OF TOKYO-MITSUBISHI TRUST
CO.,
By: /s/ Xxxx Xxxxxxx
----------------------------------
Name: Xxxx Xxxxxxx
Title: Vice President
BANK ONE, N.A.
(Main Office: Chicago),
By: /s/ Xxxxxx XxXxxxxx
----------------------------------
Name: Xxxxxx XxXxxxxx
Title: Assistant Vice President
BANQUE NATIONALE DE PARIS,
as Co-Agent,
By: /s/ Xxxxxxxxx Xxxxxx
----------------------------------
Name: Xxxxxxxxx Xxxxxx
Title: Vice President
By: /s/ Xxxxxxxx Xxxxx
----------------------------------
Name: Xxxxxxxx Xxxxx
Title: Senior Vice President
BHF (USA) CAPITAL CORPORATION,
By:
----------------------------------
Name:
Title:
By:
----------------------------------
Name:
Title:
BALANCED HIGH YIELD FUND II LTD,
By: BHF-Bank
Aktiengesellschaft, acting
through its New York
Branch, as attorney-in-
fact,
By:
----------------------------------
Name:
Title:
By:
----------------------------------
Name:
Title:
CAPTIVA III FINANCE, LTD.,
By:
----------------------------------
Name:
Title:
CHASE SECURITIES INC., as Agent
for THE CHASE MANHATTAN BANK,
By: /s/ Xxxxxx Xxxxxx
----------------------------------
Name: Xxxxxx Xxxxxx
Title: Vice President
CIBC INC.,
CIBC WORLD MARKETS. CORP.,
as Agent,
By: /s/ Xxxx Xxxxxxxx
----------------------------------
Name: Xxxx Xxxxxxxx
Title: Executive Director
CITY NATIONAL BANK,
By: /s/ Xxxxxx Xxxxxxxxxxx
----------------------------------
Name: Xxxxxx Xxxxxxxxxxx
Title: Vice President
CONTINENTAL ASSURANCE COMPANY,
By:
----------------------------------
Name:
Title:
CREDIT INDUSTRIEL ET COMMERCIAL,
By: /s/ Xxxxxxx Xxxx
----------------------------------
Name: Xxxxxxx Xxxx
Title: Vice President
By: /s/ Xxxxxx Xxxxxxx
----------------------------------
Name: Xxxxxx Xxxxxxx
Title: Vice President
THE DAI-ICHI KANGYO BANK,
LIMITED,
By:
----------------------------------
Name:
Title:
DLJ CAPITAL FUNDING, INC.,
By:
----------------------------------
Name:
Title:
ELC (CAYMAN) LTD.,
By: /s/ Xxxx X. Xxxxxxxxx III
----------------------------------
Name: Xxxx X. Xxxxxxxxx III
Title: Director
XXXXX XXXXX SENIOR INCOME TRUST,
By: Xxxxx Xxxxx Management
as Investment Advisor,
By: /s/ Xxxxx X. Page
----------------------------------
Name: Xxxxx X. Page
Title: Vice President
XXXXX XXXXX INSTITUTIONAL SENIOR
LOAN,
By: Xxxxx Xxxxx Management as
Investment Advisor,
By: /s/ Xxxxx X. Page
----------------------------------
Name: Xxxxx X. Page
Title: Vice President
ERSTE BANK DER OESTERREICHISCHEN
SPARKASSEN AG,
By: /s/ Xxxxxxx Xxxxxxxxxxx
----------------------------------
Name: Xxxxxxx Xxxxxxxxxxx
Title: Vice President
By: /s/ Xxxx X. Xxxxxxx
----------------------------------
Name: Xxxx X. Xxxxxxx
Title: First Vice President
FIRSTRUST BANK,
By: /s/ Xxxxx X. Xxxxxx
----------------------------------
Name: Xxxxx X. Xxxxxx
Title: Vice President
FLEET NATIONAL BANK,
By: /s/ Xxxxxxx X. Xxxxxx
----------------------------------
Name: Xxxxxxx X. Xxxxxx
Title: Vice President
FRANKLIN FLOATING RATE TRUST,
By:
----------------------------------
Name:
Title:
GALAXY CLO 1999-1, LTD.,
By:
----------------------------------
Name:
Title:
GENERAL ELECTRIC CAPITAL CORP.,
By: /s/ Xxxxxxx X. Xxxx
----------------------------------
Name: Xxxxxxx X. Xxxx
Title: Duly Authorized Signatory
HSBC BANK USA,
By: /s/ Xxxx X. Xxxxx
----------------------------------
Name: Xxxx X. Xxxxx
Title: Senior Vice President
INDOSUEZ CAPITAL FUNDING IV, L.P.,
By:
----------------------------------
Name:
Title:
THE INDUSTRIAL BANK OF JAPAN
LIMITED,
By: /s/ Takuya Honjo
----------------------------------
Name: Takuya Honjo
Title: Deputy General Manager
PPM AMERICA,INC., as attorney in
fact, on behalf of
XXXXXXX NATIONAL LIFE INSURANCE
CO.,
By: /s/ Xxxxxxx Dire
----------------------------------
Name: Xxxxxxx DiRe
Title: Managing Director
KZH CNC LLC,
By: /s/ Xxxxx Xxx
----------------------------------
Name: Xxxxx Xxx
Title: Authorized Agent
KZH CRESCENT-2 LLC,
By:
----------------------------------
Name:
Title:
KZH CYPRESSTREE-1 LLC,
By: /s/ Xxxxx Xxx
----------------------------------
Name: Xxxxx Xxx
Title: Authorized Agent
KZH III LLC,
By: /s/ Xxxxx Xxx
----------------------------------
Name: Xxxxx Xxx
Title: Authorized Agent
KZH LANGDALE LLC,
By: /s/ Xxxxx Xxx
----------------------------------
Name: Xxxxx Xxx
Title: Authorized Agent
KZH SOLEIL LLC,
By:
----------------------------------
Name:
Title:
MELLON BANK, N.A.,
By: /s/ R. Xxxx Xxxxxxxx
----------------------------------
Name: R. Xxxx Xxxxxxxx
Title: Vice President
XXXXXXX XXXXX CAPITAL CORPORATION,
By:
----------------------------------
Name:
Title:
MITSUBISHI TRUST & BANKING CORP.,
By:
----------------------------------
Name:
Title:
ML CLO XV PILGRIM AMERICA (CAYMAN)
LTD.,
By: Pilgrim Investments, Inc.
as its Investment Manager,
By: /s/ Xxxx X. Xxxx
----------------------------------
Name: Xxxx X. Xxxx
Title: Assistant Vice President
NATEXIS BANQUE BFCE,
By: /s/ Xxxxx X. Xxxxxx, Xx.
----------------------------------
Name: Xxxxx X. Xxxxxx, Xx.
Title: Vice President and Group
Manager
By: /s/ Xxxx Xxxxxxx
----------------------------------
Name: Xxxx Xxxxxxx
Title: Associate
NEW YORK LIFE INSURANCE COMPANY,
By:
----------------------------------
Name:
Title:
NEW YORK LIFE INSURANCE AND ANNUITY
CORPORATION,
By: New York Life Insurance
Company,
By:
----------------------------------
Name:
Title:
NORTH AMERICAN SENIOR FLOATING RATE
FUND,
By: CYPRESSTREE INVESTMENT
MANAGEMENT COMPANY, INC., as
Portfolio Manger,
By:
----------------------------------
Name:
Title:
PILGRIM AMERICA HIGH INCOME
INVESTMENTS LTD.,
By: PILGRIM INVESTMENTS INC., as
its Investment Manager,
By: /s/ Xxxx X. Xxxx
----------------------------------
Name: Xxxx X. Xxxx
Title: Assistant Vice President
SENIOR DEBT PORTFOLIO,
By: BOSTON MANAGEMENT AND
RESEARCH, as Investment
Advisor,
By: /s/ Xxxxx X. Page
----------------------------------
Name: Xxxxx X. Page
Title: Vice President
THE SUMITOMO BANK, LIMITED
NEW YORK BRANCH,
By: /s/ Xxxx Xxxxxx
----------------------------------
Name: Xxxx Xxxxxx
Title: Authorized Signatory
THE TRAVELERS INSURANCE COMPANY,
By:
----------------------------------
Name:
Title:
XXX XXXXXX CLO I, LIMITED,
By:
----------------------------------
Name:
Title:
XXX XXXXXX PRIME RATE INCOME TRUST,
By:
----------------------------------
Name:
Title:
