Exhibit
99.2
Execution Version
This FIRST AMENDMENT TO SECOND AMENDED AND RESTATED
CREDIT AGREEMENT dated as of December 23,
2010 (this “
Amendment”), by and among MAPCO EXPRESS, INC., a Delaware corporation (the
“
Borrower”), Fifth Third Bank, as Administrative Agent (“
Administrative Agent”) for
certain financial institutions party to the
Credit Agreement described below (the
“
Lenders”), and the Lenders party hereto.
W I T N E S S E T H:
WHEREAS, the Borrower, Administrative Agent and the Lenders, are parties to that certain
Second Amended and Restated
Credit Agreement dated as of December 10, 2009 (as amended, restated,
supplemented or otherwise modified from time to time, the “
Credit Agreement”);
WHEREAS, the Borrower has requested certain additional Loans and other financial
accommodations from Administrative Agent and the Lenders and certain other modifications to the
Credit Agreement; and
WHEREAS, in light of such requests, on the terms and subject to the conditions set forth
herein, Administrative Agent and the Required Lenders have agreed to make certain additional Loans
and other financial accommodations to the Borrower and to amend the
Credit Agreement as set forth
herein.
NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained
herein, and for other good and valuable consideration, the receipt and sufficiency of which hereby
are acknowledged, the parties hereto agree as follows:
1.
Defined Terms. Unless otherwise noted herein, terms defined in the
Credit
Agreement and used herein shall have the meanings given to them in the
Credit Agreement (as amended
hereby).
2.
Amendment to the Credit Agreement. Effective as of the Effective Time (as defined
below), the Credit Agreement is hereby amended in its entirety to read as set forth on
Exhibit
A hereto.
3. Conditions to Effectiveness. The effectiveness of this Amendment is subject to the
satisfaction of the following conditions precedent (the time such conditions are satisfied being
referred to as the “Effective Time”):
(a) Amendment. The Required Lenders shall have received this Amendment, executed and
delivered by a duly authorized officer of the Borrower.
(b) Additional Closing Deliveries. The receipt by Administrative Agent of each of the
documents, agreements, instruments and other deliveries set forth in the closing agenda attached
hereto as Exhibit B, in each case, duly executed and delivered, as applicable, and in form
and substance satisfactory to Administrative Agent, except for such deliveries that
Administrative Agent has otherwise acknowledged may be delivered after the First Amendment
Effective Date pursuant to a written agreement;
(c) Fees. Administrative Agent shall have received the Arrangement Fee, the Upfront
Fee and the Administrative Fee described in that certain fee letter agreement between the Borrower
and Administrative Agent, dated as of October 14, 2010;
(d) Representations and Warranties. Each of the representations and warranties set
forth in Section 4 hereof shall be true, accurate and complete in all respects; and
(e) No Default. No Default or Event of Default shall have occurred and be continuing
or arise as a direct result of this Amendment or any of the transactions contemplated hereby.
4. Representations and Warranties. Borrower hereby represents and warrants to
Administrative Agent and each Lender that, as of the Effective Date, the representations and
warranties set forth in the Credit Agreement, as amended by this Amendment, are true, correct and
complete in all material respects, except for such representations and/or warranties that expressly
relate to an earlier date (in which event such representations and/or warranties are true, correct
and complete in all material respect as of such earlier date).
5. Payment of Expenses. The Borrower agrees to pay or reimburse the Administrative
Agent for all of its reasonable out-of-pocket costs and expenses incurred in connection with this
Amendment, any other documents prepared in connection herewith and the transactions contemplated
hereby, including, without limitation, the reasonable fees and disbursements of counsel to the
Administrative Agent.
6.
GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW YORK.
7. No Modification. Except as expressly set forth herein, the execution of this
Amendment shall not (i) operate as a waiver of any right, power or remedy of Administrative Agent
or any Lender or other Secured Party, (ii) constitute a waiver of compliance with any term or
condition contained in the Credit Agreement or any of the other Loan Documents or (iii) constitute
a course of conduct or dealing among the parties. Except as expressly stated herein,
Administrative Agent and the Lenders reserve all rights, privileges and remedies under the Loan
Documents. Except as expressly amended hereby the Credit Agreement remains unmodified and in full
force and effect. All references in the Loan Documents to the Credit Agreement shall be deemed to
be references to the Credit Agreement as amended hereby.
8. Counterparts. This Amendment may be executed in any number of counterparts and by
different parties in separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute one and the same agreement. Signature
pages may be detached from multiple separate counterparts and attached to a single counterpart.
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9. Successors and Assigns. The provisions of this Amendment shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and assigns; provided
that the Borrower may not assign or transfer any of its rights or obligations under this Amendment
without the prior written consent of Administrative Agent.
10. Further Assurance. The Borrower hereby agrees from time to time, as and when
requested by Administrative Agent or Lenders, to execute and deliver or cause to be executed and
delivered, all such documents, instruments and agreements and to take or cause to be taken such
further or other action as Administrative Agent or Lenders may reasonably deem necessary or
desirable in order to carry out the intent and purposes of this Amendment, the Credit Agreement and
the Loan Documents.
11. Severability; Facsimile Signature. The illegality or unenforceability of any
provision of this Amendment or any document, instrument or agreement required hereunder or
delivered in connection herewith shall not in any way affect or impair the legality or
enforceability of the remaining provisions of this Amendment or any document, instrument or
agreement required hereunder. This Amendment, or any document, instrument or agreement required
hereunder or delivered in connection herewith, delivered by facsimile transmission shall have the
same force and effect as if the original thereof had been delivered.
12. Continued Effectiveness; No Novation. Anything contained herein to the contrary
notwithstanding, neither this Amendment nor any of the Loan Documents executed in connection
herewith is intended to or shall serve to effect a novation of the Obligations under the Credit
Agreement and the other Loan Documents. Instead, it is the express intention of the parties hereto
to reaffirm the indebtedness created under the Credit Agreement which is evidenced by the Credit
Agreement, as amended hereby, the notes, if any, provided for therein and secured by the
Collateral.
13. Release of Claims. In consideration of the Lenders’ and Administrative Agent’s
agreements contained in this Amendment, the Borrower hereby irrevocably releases and forever
discharge the Lenders and the Administrative Agent and their affiliates, subsidiaries, successors,
assigns, directors, officers, employees, agents, consultants and attorneys (each, a “Released
Person”) of and from any and all claims, suits, actions, investigations, proceedings or
demands, whether based in contract, tort, implied or express warranty, strict liability, criminal
or civil statute or common law of any kind or character, known or unknown, which the Borrower ever
had or now has against Administrative Agent, any Lender or any other Released Person which relates,
directly or indirectly, to any acts or omissions of Administrative Agent, any Lender or any other
Released Person relating to the Credit Agreement or any other Loan Document on or prior to the date
hereof.
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14. New Lenders.
(a) Each Person party to this Amendment as a Lender that is not a “Lender” under the Credit
Agreement as in effect prior to the effectiveness of this Amendment (each such Person, a “New
Lender”) shall be deemed to be, and hereby is, a Lender under the Credit Agreement for all purposes
thereunder. Upon the effectiveness of this Amendment, each New
Lender and each other Person party hereto hereby agrees and acknowledges that each New Lender
shall be a “Lender” under the Credit Agreement (after giving effect to this Amendment) and each
other Loan Document and shall have the rights and obligations of a Lender thereunder. Each New
Lender hereby (i) confirms that it has received a copy of the Credit Agreement (as in effect after
giving effect to this Amendment) and the other Loan Documents, together with copies of the most
recent financial statements delivered pursuant thereto and such other documents and information as
it has deemed appropriate to make its own credit analysis and decision to become a Lender under the
Credit Agreement; (ii) agrees that it will, independently and without reliance upon the
Administrative Agent or any other Lender and based on such documents and information as it shall
deem appropriate at the time, continue to make its own credit decisions in taking or not taking
action under the Credit Agreement (after giving effect to this Amendment), the other Loan Documents
or any other instrument or document furnished pursuant hereto or thereto; (iii) appoints and
authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such
powers and discretion under the Credit Agreement, the other Loan Documents or any other instrument
or document furnished pursuant hereto or thereto as are delegated to the Administrative Agent by
the terms thereof, together with such powers as are incidental thereto; and (iv) agrees that it
will be bound by the provisions of the Credit Agreement (as in effect after giving effect to this
Amendment) and will perform in accordance with its terms all the obligations which by the terms of
the Credit Agreement (as in effect after giving effect to this Amendment) are required to be
performed by it as a Lender including, if it is organized under the laws of a jurisdiction outside
the United States, its obligation pursuant to Section 2.18(d) of the Credit Agreement (as in effect
after giving effect to this Amendment).
(b) Each Lender (other than a New Lender) that shall simultaneously with effectiveness of this
Amendment consummate the transfers, if any, contemplated by Section 2.4(c) of the Credit Agreement
(as amended hereby) (i) makes no representation or warranty and assumes no responsibility with
respect to any statements, warranties or representations made in or in connection with the Credit
Agreement (as in effect after giving effect to this Amendment) or with respect to the execution,
legality, validity, enforceability, genuineness, sufficiency or value of the Credit Agreement, any
other Loan Document or any other instrument or document furnished pursuant thereto, other than that
such Lender has not created any adverse claim upon the interest being transferred by it hereunder
and that such interest is free and clear of any such adverse claim; and (ii) makes no
representation or warranty and assumes no responsibility with respect to the financial condition of
any Borrower, any of its Subsidiaries or any other obligor or the performance or observance by such
Borrower, any of its Subsidiaries or any other obligor of any of their respective obligations under
the Credit Agreement (as in effect after giving effect to this Amendment) or any other Loan
Document or any other instrument or document furnished pursuant hereto or thereto.
[SIGNATURE PAGES FOLLOW]
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their respective proper and duly authorized officers as of the day and year first
above written.
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MAPCO EXPRESS, INC., as the Borrower
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By: |
/s/ Xxxx X. Xxx
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Name: |
Xxxx X. Xxx |
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Title: |
Executive Vice President and Chief Financial
Officer |
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By: |
/s/ Xxxxxx X. Xxxxxxxx
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Name: |
Xxxxxx X. Xxxxxxxx |
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Title: |
Vice President |
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First Amendment to Second Amended and Restated Credit Agreement
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their respective proper and duly authorized officers as of the day and year first
above written.
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FIFTH THIRD BANK, as Administrative Agent and a
Lender
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By: |
/s/ Xxxx X. Xxxxxxx
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Name: |
Xxxx X. Xxxxxxx |
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Title: |
Vice President |
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First Amendment to Second Amended and Restated Credit Agreement
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their respective proper and duly authorized officers as of the day and year first
above written.
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BANK OF MONTREAL, as a Lender
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By: |
/s/ X. Xxxxx Place
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Name: |
X. Xxxxx Place |
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Title: |
Director |
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First Amendment to Second Amended and Restated Credit Agreement
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their respective proper and duly authorized officers as of the day and year first
above written.
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Regions Bank, as a Lender
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By: |
/s/ C. Xxxx Xxxxx
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Name: |
C. Xxxx Xxxxx |
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Title: |
Senior Vice President |
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Regions Bank, as a Co-Syndication Agent
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By: |
/s/ Xxxxxx X. Xxxxx, Xx.
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Name: |
Xxxxxx X. Xxxxx, Xx. |
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Title: |
Executive Vice President |
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First Amendment to Second Amended and Restated Credit Agreement
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered
by their respective proper and duly authorized officers as of the day and year first above written.
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Bank Hapoalim B.M., as a Lender
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By: |
/s/ Xxxxxx Xxxx
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Name: |
Xxxxxx Xxxx |
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Title: |
First Vice President |
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Bank Hapoalim B.M., as a Documentation Agent and as
Joint Lead Arranger
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By: |
/s/ Xxxxxx Xxxx
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Name: |
Xxxxxx Xxxx |
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Title: |
First Vice President |
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By: |
/s/ Xxx Xxxxxxx
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Name: |
Xxx Xxxxxxx |
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Title: |
Senior Vice President |
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First Amendment to Second Amended and Restated Credit Agreement
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their respective proper and duly authorized officers as of the day and year first
above written.
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U.S. Bank, N.A., as a Lender
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By: |
/s/ Xxxx Xxxxxxxx
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Name: |
Xxxx Xxxxxxxx |
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Title: |
Vice President
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_____, as a _____ Agent |
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By: |
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Name: |
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Title: |
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First Amendment to Second Amended and Restated Credit Agreement
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their respective proper and duly authorized officers as of the day and year first
above written.
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Bank Leumi USA, as a Lender
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By: |
/s/ Xxx Xxxxxxxx
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/s/ Xxxxxxx X. Xxxxx |
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Name: |
Xxx Xxxxxxxx |
Xxxxxxx X. Xxxxx |
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Title: |
VP
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SVP |
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_____, as a _____ Agent |
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By: |
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Name: |
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Title: |
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First Amendment to Second Amended and Restated Credit Agreement
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their respective proper and duly authorized officers as of the day and year first
above written.
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XX Xxxxxx Chase, as a Lender
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By: |
/s/ Xxxxxx X. Xxxxxx
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Name: |
Xxxxxx X. Xxxxxx |
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Title: |
VP
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_____, as a _____ Agent |
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By: |
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Name: |
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Title: |
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First Amendment to Second Amended and Restated Credit Agreement
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their respective proper and duly authorized officers as of the day and year first
above written.
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ISRAEL DISCOUNT BANK OF NEW YORK, as a Lender
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By: |
/s/ Mali Golan
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Name: |
Mali Golan |
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Title: |
Assistant Vice President |
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By: |
/s/ Xxxxxxx Xxxx
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Name: |
Xxxxxxx Xxxx |
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Title: |
Senior Vice President
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_____, as a _____ Agent |
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First Amendment to Second Amended and Restated Credit Agreement
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their respective proper and duly authorized officers as of the day and year first
above written.
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First Tennessee Bank National Association, as a
Lender
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By: |
/s/ Xxxxx X. Xxxxx, Xx.
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Name: |
Xxxxx X. Xxxxx, Xx. |
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Title: |
Senior Vice President |
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First Amendment to Second Amended and Restated Credit Agreement
EXHIBIT A
Amended Credit Agreement
See attached.
EXHIBIT B
Closing Agenda
See attached.
Execution Version
EXHIBIT A
$200,000,000
SECOND AMENDED AND RESTATED
CREDIT AGREEMENT
among
MAPCO EXPRESS, INC.,
together with each other Person who becomes a borrower
hereunder by execution of a joinder, as Borrowers,
the Several Lenders
from Time to Time Parties Hereto,
FIFTH THIRD BANK, AN OHIO BANKING CORPORATION,
as Joint Lead Arranger and Sole Bookrunner,
BMO CAPITAL MARKETS,
as Co-Syndication Agent and as Joint Lead Arranger,
REGIONS BUSINESS CAPITAL, A DIVISION OF REGIONS BANK,
as Co- Syndication Agent and as Joint Lead Arranger,
BANK HAPOALIM B.M.,
as Documentation Agent and as Joint Lead Arranger,
and
FIFTH THIRD BANK, AN OHIO BANKING CORPORATION,
as Administrative Agent
Dated as of December 10, 2009
TABLE OF CONTENTS
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SECTION 1. DEFINITIONS |
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1 |
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1.1 Defined Terms |
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1 |
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1.2 Other Definitional Provisions |
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28 |
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SECTION 2. AMOUNT AND TERMS OF COMMITMENTS |
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28 |
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2.1 Existing Term Loan Commitments |
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28 |
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2.2 Intentionally Omitted |
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28 |
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2.3 Intentionally Omitted |
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29 |
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2.4 Revolving Credit Commitments |
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29 |
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2.5 Procedure for Revolving Credit Borrowing |
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30 |
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2.6 Repayment of Loans; Evidence of Debt |
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30 |
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2.7 Commitment Fees, etc. |
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31 |
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2.8 Termination or Reduction of Revolving Credit Commitments |
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32 |
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2.9 Optional Prepayments |
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32 |
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2.10 Mandatory Prepayments |
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32 |
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2.11 Conversion and Continuation Options |
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33 |
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2.12 Minimum Amounts and Maximum Number of Eurodollar Tranches |
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34 |
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2.13 Interest Rates and Payment Dates |
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34 |
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2.14 Computation of Interest and Fees |
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35 |
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2.15 Inability to Determine Interest Rate |
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35 |
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2.16 Pro Rata Treatment and Payments |
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36 |
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2.17 Requirements of Law |
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38 |
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2.18 Taxes |
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39 |
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2.19 Indemnity |
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41 |
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2.20 Illegality |
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41 |
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2.21 Change of Lending Office |
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42 |
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2.22 Replacement of Lenders under Certain Circumstances; Defaulting Lenders |
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42 |
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2.23 Swing Line Commitment |
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44 |
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2.24 Procedure for Swing Line Borrowing; Refunding of Swing Line Loans |
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45 |
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2.25 Intentionally Omitted |
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46 |
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2.26 Increases in Revolving Credit Commitments |
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46 |
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SECTION 3. LETTERS OF CREDIT |
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48 |
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3.1 L/C Commitment |
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48 |
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3.2 Procedure for Issuance of Letter of Credit |
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49 |
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3.3 Fees and Other Charges |
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50 |
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3.4 L/C Participations |
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50 |
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3.5 Reimbursement Obligation of the Borrowers |
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51 |
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3.6 Obligations Absolute |
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52 |
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3.7 Letter of Credit Payments |
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52 |
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3.8 Applications |
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52 |
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SECTION 4. REPRESENTATIONS AND WARRANTIES |
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53 |
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4.1 Financial Condition |
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4.2 No Change |
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4.3 Corporate Existence; Compliance with Law |
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4.4 Corporate Power; Authorization; Enforceable Obligations |
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54 |
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4.5 No Legal Bar |
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54 |
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4.6 No Material Litigation |
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54 |
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4.7 No Default |
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55 |
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4.8 Ownership of Property; Liens |
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55 |
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4.9 Intellectual Property |
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55 |
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4.10 Taxes |
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55 |
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4.11 Federal Regulations |
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55 |
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4.12 Labor Matters |
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56 |
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4.13 ERISA |
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56 |
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4.14 Investment Company Act; Other Regulations |
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56 |
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4.15 Subsidiaries |
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56 |
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4.16 Use of Proceeds |
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57 |
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4.17 Environmental Matters |
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57 |
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4.18 Accuracy of Information, etc. |
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58 |
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4.19 Security Documents |
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58 |
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4.20 Solvency |
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4.21 Regulation H |
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59 |
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SECTION 5. CONDITIONS PRECEDENT |
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5.1 Conditions to Effectiveness |
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5.2 Conditions to Each Extension of Credit |
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61 |
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SECTION 6. AFFIRMATIVE COVENANTS |
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6.1 Financial Statements |
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6.2 Certificates; Other Information |
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62 |
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6.3 Payment of Obligations |
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64 |
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6.4 Conduct of Business and Maintenance of Existence; Compliance |
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64 |
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6.5 Maintenance of Property; Insurance |
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64 |
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6.6 Inspection of Property; Books and Records; Discussions |
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65 |
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6.7 Notices |
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65 |
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6.8 Environmental Laws |
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66 |
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6.9 Intentionally Omitted |
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66 |
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6.10 Additional Collateral, etc. |
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67 |
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6.11 Further Assurances |
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69 |
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6.12 Interest Rate Protection |
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70 |
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SECTION 7. NEGATIVE COVENANTS |
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70 |
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7.1 Financial Condition Covenants |
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70 |
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7.2 Limitation on Indebtedness |
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71 |
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7.3 Limitation on Liens |
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73 |
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7.4 Limitation on Fundamental Changes |
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74 |
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7.5 Limitation on Disposition of Property |
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74 |
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7.6 Limitation on Restricted Payments |
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77 |
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7.7 Limitation on Growth Capital Expenditures |
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80 |
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7.8 Limitation on Investments |
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79 |
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7.9 Limitation on Transactions with Affiliates |
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81 |
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7.10 Limitation on Sales and Leasebacks |
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81 |
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7.11 Limitation on Changes in Fiscal Periods |
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81 |
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7.12 Limitation on Negative Pledge Clauses |
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82 |
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7.13 Limitation on Restrictions on Subsidiary Distributions |
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82 |
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7.14 Limitation on Lines of Business |
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82 |
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7.15 Limitation on Amendments to Other Documents |
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82 |
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7.16 Limitation on Hedge Agreements |
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83 |
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7.17 La Xxxxxx Management Agreement |
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83 |
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7.18 Intentionally Omitted |
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83 |
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7.19 Intentionally Omitted |
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83 |
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7.20 Intentionally Omitted |
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83 |
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SECTION 8. EVENTS OF DEFAULT |
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83 |
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SECTION 9. THE AGENTS |
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87 |
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9.1 Appointment |
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|
87 |
|
9.2 Delegation of Duties |
|
|
87 |
|
9.3 Exculpatory Provisions |
|
|
87 |
|
9.4 Reliance by Agents |
|
|
87 |
|
9.5 Notice of Default |
|
|
88 |
|
9.6 Non-Reliance on Agents and Other Lenders |
|
|
88 |
|
9.7 Indemnification |
|
|
89 |
|
9.8 Agent in Its Individual Capacity |
|
|
89 |
|
9.9 Successor Administrative Agent |
|
|
89 |
|
9.10 Authorization to Release Liens and Guarantees |
|
|
90 |
|
9.11 The Arrangers; the Co-Syndication Agents; the Documentation Agent |
|
|
90 |
|
|
|
|
|
|
SECTION 10. MISCELLANEOUS |
|
|
90 |
|
10.1 Amendments and Waivers |
|
|
90 |
|
10.2 Notices |
|
|
92 |
|
10.3 No Waiver; Cumulative Remedies |
|
|
93 |
|
10.4 Survival of Representations and Warranties |
|
|
93 |
|
10.5 Payment of Expenses |
|
|
93 |
|
10.6 Successors and Assigns; Participations and Assignments |
|
|
94 |
|
10.7 Adjustments; Set-off |
|
|
98 |
|
10.8 Counterparts |
|
|
98 |
|
10.9 Severability |
|
|
98 |
|
10.10 Integration |
|
|
99 |
|
10.11 GOVERNING LAW |
|
|
99 |
|
10.12 Submission To Jurisdiction; Waivers |
|
|
99 |
|
10.13 Acknowledgments |
|
|
99 |
|
10.14 Confidentiality |
|
|
100 |
|
10.15 Release of Collateral and Guarantee Obligations |
|
|
100 |
|
iii
|
|
|
|
|
|
|
Page |
|
|
|
|
|
|
10.16 Accounting Changes |
|
|
101 |
|
10.17 Intentionally Omitted |
|
|
102 |
|
10.18 WAIVERS OF JURY TRIAL |
|
|
102 |
|
10.19 Joint and Several Liability |
|
|
102 |
|
10.20 Effect of Amendment and Restatement of the Existing Credit Agreement |
|
|
102 |
|
iv
|
|
|
ANNEXES: |
|
|
|
A
|
|
Existing Letters of Credit |
|
|
|
SCHEDULES: |
|
|
|
1.1A-1
|
|
Exempt Properties |
1.1A-2
|
|
Mortgage Amendments |
1.1C
|
|
Commitments |
2.4
|
|
Revolving Credit Commitments under the Existing Credit Agreement |
4.1(b)
|
|
Guarantee Obligations |
4.4
|
|
Consents |
4.8(a)
|
|
Real Property of the Loan Parties |
4.8(b)
|
|
Ownership of Properties |
4.15
|
|
Subsidiaries |
7.2
|
|
Existing Capital Lease Obligations and Purchase Money Indebtedness |
7.3(f)
|
|
Permitted Liens |
10.15
|
|
Specified Leased Properties |
|
|
|
EXHIBITS: |
|
|
|
A
|
|
Form of Joinder to Second Amended and Restated Credit Agreement |
B
|
|
Form of Compliance Certificate |
C
|
|
Form of Closing Certificate |
D
|
|
Form of Mortgage |
E
|
|
Form of Assignment and Acceptance |
F
|
|
Form of Legal Opinion of Xxxx Xxxxx & Xxxx PLC |
G-1
|
|
Form of Revolving Credit Note |
G-2
|
|
Form of Swing Line Note |
H
|
|
Form of Exemption Certificate |
I
|
|
Form of Borrowing Notice |
J
|
|
Form of New Lender Supplement |
K
|
|
Form of Commitment Increase Supplement |
v
SECOND AMENDED AND RESTATED CREDIT AGREEMENT, dated as of December 10, 2009, among MAPCO
EXPRESS, INC., a Delaware corporation (“MAPCO Express” together with each other Person who
becomes a borrower hereunder by execution of a joinder in the form of Exhibit A attached hereto,
the “Borrowers”), the several banks and other financial institutions or entities from time
to time parties to this Agreement (the “Lenders”), FIFTH THIRD BANK, an Ohio banking
corporation (in its individual capacity, “Fifth Third”), as joint lead arranger and sole
bookrunner (in such capacity, the “Fifth Third Joint Arranger”), BANK HAPOALIM B.M., as
documentation agent (in such capacity, the “Documentation Agent”) and as joint lead
arranger (the “Hapoalim Joint Arranger”), BMO CAPITAL MARKETS, as co-syndication agent (in
such capacity, the “BMO Co-Syndication Agent”), and as joint lead arranger (the “BMO
Joint Arranger”), REGIONS BUSINESS CAPITAL, A DIVISION OF REGIONS BANK, as co-syndication agent
(in such capacity, the “Regions Co-Syndication Agent”; the Regions Co-Syndication Agent and
the BMO Co-Syndication Agent are referred to herein each individually as a “Co-Syndication
Agent” and collectively as the “Co-Syndication Agents”), and as joint lead arranger
(the “Regions Joint Arranger”; the Fifth Third Joint Arranger, the BMO Joint Arranger, the
Hapoalim Joint Arranger and the Regions Joint Arranger are referred to herein each individually as
an “Arranger” and collectively as the “Arrangers”), and Fifth Third, as
administrative agent (in such capacity, the “Administrative Agent”).
W I T N E S S E T H:
WHEREAS, MAPCO Express, the Lenders, the Administrative Agent and certain other Persons are
parties to that certain Second Amended and Restated Credit Agreement, dated as of December 10, 2009
(as amended, supplemented or otherwise modified from time to time, the “Existing Credit
Agreement”);
WHEREAS, the Borrowers have requested that the Existing Credit Agreement be amended and
restated in its entirety as set forth herein; and
WHEREAS, the Lenders are willing to amend and restate the Existing Credit Agreement solely on
the terms and conditions set forth herein;
NOW, THEREFORE, in consideration of the premises and the agreements hereinafter set forth and
for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
the parties hereto hereby agree that on the First Amendment Effective Date, as provided in Section
10.20, the Existing Credit Agreement shall be amended and restated in its entirety as follows:
SECTION 1. DEFINITIONS.
1.1 Defined Terms. As used in this Agreement, the terms listed in this Section 1.1 shall have the respective
meanings set forth in this Section 1.1.
“Adjustment Date”: as defined in the Pricing Grid.
“Administrative Agent”: as defined in the preamble hereto.
“Affiliate”: as to any Person, any other Person that, directly or indirectly, is in
control of, is controlled by, or is under common control with, such Person. For purposes of this
definition, “control” of a Person means the power, directly or indirectly, either to (a) vote 10%
or more of the securities having ordinary voting power for the election of directors (or persons
performing similar functions) of such Person or (b) direct or cause the direction of the management
and policies of such Person, whether by contract or otherwise.
“Agents”: the collective reference to the Co-Syndication Agents, the Documentation
Agent and the Administrative Agent.
“Aggregate Exposure”: with respect to any Lender at any time, an amount equal to the
sum of (a) the aggregate then unpaid principal amount of such Lender’s Term Loans and (b) the
amount of such Lender’s Revolving Credit Commitment then in effect or, if the Revolving Credit
Commitments have been terminated, the amount of such Lender’s Revolving Extensions of Credit then
outstanding.
“Aggregate Exposure Percentage”: with respect to any Lender at any time, the ratio
(expressed as a percentage) of such Lender’s Aggregate Exposure at such time to the sum of the
Aggregate Exposures of all Lenders at such time.
“Agreement”: this Credit Agreement, as amended, supplemented or otherwise modified
from time to time.
“Applicable Margin”: for each Type of Loan under each Facility, the rate per annum
set forth opposite such Facility under the relevant column heading below:
|
|
|
|
|
|
|
|
|
|
|
Base Rate |
|
|
Eurodollar |
|
|
|
Loans |
|
|
Loans |
|
Revolving Credit Facility (including Swing Line
Loans) |
|
|
3.00 |
% |
|
|
4.00 |
% |
Term Loan Facility |
|
|
3.25 |
% |
|
|
4.25 |
% |
provided, that on and after the first Adjustment Date occurring after the completion of the
fiscal quarter of the Borrowers ending December 31, 2010, the Applicable Margin will be determined
pursuant to the Pricing Grid.
“Application”: an application, in such form as the relevant Issuing Lender may
specify from time to time, requesting such Issuing Lender to issue a Letter of Credit.
“Arrangers”: as defined in the preamble hereto.
“Assignment and Acceptance”: as defined in Section 10.6(c).
“Assignee”: as defined in Section 10.6(c).
“Assignor”: as defined in Section 10.6(c).
2
“Attributable Debt”: as to any sale and leaseback transaction, at the time of
determination, the present value (discounted at the rate of interest implicit in such transaction,
determined in accordance with GAAP) of the obligation of the lessee for net rental payments during
the remaining term of the lease included in such sale and leaseback transaction (including any
period for which such lease has been extended or may, at the option of the lessor, be extended).
“Available Revolving Credit Commitment”: with respect to any Revolving Credit Lender
at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Credit
Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then
outstanding; provided, that in calculating any Lender’s Revolving Extensions of Credit for the
purpose of determining such Lender’s Available Revolving Credit Commitment pursuant to Section
2.7(a), the aggregate principal amount of Swing Line Loans then outstanding shall be deemed to be
zero.
“Balance Sheet”: as defined in Section 4.1(a).
“Base Rate”: for any day, the greatest of: (i) the rate of interest announced by the
Administrative Agent from time to time as its “prime rate” as in effect on such day, with any
change in the Base Rate resulting from a change in said prime rate to be effective as of the date
of the relevant change in said prime rate (it being acknowledged that such rate may not be the
Administrative Agent’s best or lowest rate), (ii) the sum of (x) the Federal Funds Effective Rate,
plus (y) 1/2 of 1% and (iii) the sum of (x) the Eurodollar Rate that would be applicable to a
Eurodollar Loan with a one (1) month Interest Period advanced on such day (or if such day is not a
Business Day, the immediately preceding Business Day) plus (y) 1.00%. Any change in the Base Rate
due to a change in the prime rate, the Eurodollar Rate for an interest period of one (1) month or
the Federal Funds Effective Rate shall be effective as of the opening of business on the effective
day of such change in the prime rate, the Eurodollar Rate or the Federal Funds Effective Rate,
respectively. In the event that the Eurodollar Base Rate used to determine the Eurodollar Rate
described in clause (iii) above does not appear on Reuters Screen LIBOR01 Page screen (or otherwise
on such screen), the “Eurodollar Base Rate” for purposes of this definition shall be determined by
reference to such other comparable publicly available service for displaying eurodollar rates as
may be selected by the Administrative Agent.
“Base Rate Loans”: Loans for which the applicable rate of interest is based upon the
Base Rate.
“Benefited Lender”: as defined in Section 10.7.
“BMO Co-Syndication Agent”: as defined in the preamble hereto.
“BMO Joint Arranger”: as defined in the preamble hereto.
“Board”: the Board of Governors of the Federal Reserve System of the United States
(or any successor).
“Borrowers”: as defined in the preamble hereto.
3
“Borrowing Date”: any Business Day specified by a Borrower as a date on which such
Borrower requests the relevant Lenders to make Loans hereunder.
“Borrowing Notice”: with respect to any request for borrowing of Loans hereunder, a
notice from any Borrower, substantially in the form of, and containing the information prescribed
by, Exhibit I, delivered to the Administrative Agent.
“Build to Suit Leased Location”: the fee or leasehold real Property acquired by a
developer and all buildings, fixtures and other improvements thereon to be built (or otherwise
provided) by a developer pursuant to a Build to Suit Project, which such Property and improvements
are leased from the developer by a Borrower or a Wholly Owned Subsidiary of a Borrower.
“Build to Suit Project”: an arrangement whereby a Borrower or a Wholly Owned
Subsidiary of a Borrower shall enter into an agreement with a developer, pursuant to which such
developer shall acquire a fee or leasehold interest in real Property and shall build on such
Property a convenience store (which may include improvements and assets for customary ancillary
uses in Borrower’s line of business, such as a car wash) in accordance with the specifications
provided by a Borrower and lease the to be newly built convenience store (together with any such
ancillary improvements and assets) to such Borrower or Wholly Owned Subsidiary. In connection
with a Build to Suit Project, it is agreed and acknowledged that the developer may develop
improvements in addition to such convenience store (together with any such ancillary improvements
and assets), which additional improvements shall not be subject to such lease.
“
Business Day”: (a) for all purposes other than as covered by clause (b) below, a day
other than a Saturday, Sunday or other day on which commercial banks in
New York City are
authorized or required by law to close and (b) with respect to all notices and determinations in
connection with, and payments of principal and interest on, Eurodollar Loans, any day which is a
Business Day described in clause (a) and which is also a day for trading by and between banks in
Dollar deposits in the interbank eurodollar market.
“Business Unit”: as defined in the definition of “Consolidated EBITDA.”
“Capital Expenditures”: for any period, with respect to any Person, the aggregate of
all expenditures by such Person for the acquisition, development or leasing (pursuant to a capital
lease) of fixed or capital assets or additions to equipment (including replacements, capitalized
repairs and improvements during such period) which are required to be capitalized under GAAP on a
balance sheet of such Person.
“Capital Lease Obligations”: with respect to any Person, the obligations of such
Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to
use) real or personal Property, or a combination thereof, which obligations are required to be
classified and accounted for as capital leases on a balance sheet of such Person under GAAP; and,
for the purposes of this Agreement, the amount of such obligations at any time shall be the
capitalized amount thereof at such time determined in accordance with GAAP.
4
“Capital Stock”: any and all shares, interests, participations or other equivalents
(however designated) of capital stock of a corporation, any and all equivalent ownership interests
in a Person (other than a corporation) and any and all warrants, rights or options to purchase any
of the foregoing.
“Cash Equivalents”: (a) marketable direct obligations issued by, or unconditionally
guaranteed by, the United States government or issued by any agency thereof and backed by the full
faith and credit of the United States, in each case maturing within one year from the date of
acquisition; (b) certificates of deposit, time deposits, eurodollar time deposits or overnight bank
deposits having maturities of six months or less from the date of acquisition issued by any Lender
or by any commercial bank organized under the laws of the United States of America or any state
thereof having combined capital and surplus of not less than $500,000,000; (c) commercial paper of
an issuer rated at least A-2 by Standard & Poor’s Ratings Services (“S&P”) or P-2 by
Xxxxx’x Investors Service, Inc. (“Moody’s”), or carrying an equivalent rating by a
nationally recognized rating agency, if both of the two named rating agencies cease publishing
ratings of commercial paper issuers generally, and maturing within six months from the date of
acquisition; (d) repurchase obligations of any Lender or of any commercial bank satisfying the
requirements of clause (b) of this definition, having a term of not more than 30 days with respect
to securities issued or fully guaranteed or insured by the United States government; (e) securities
with maturities of one year or less from the date of acquisition issued or fully guaranteed by any
state, commonwealth or territory of the United States, by any political subdivision or taxing
authority of any such state, commonwealth or territory or by any foreign government, the securities
of which state, commonwealth, territory, political subdivision, taxing authority or foreign
government (as the case may be) are rated at least A by S&P or A by Moody’s; (f) securities with
maturities of six months or less from the date of acquisition backed by standby letters of credit
issued by any Lender or any commercial bank satisfying the requirements of clause (b) of this
definition; and (g) shares of money market mutual or similar funds which invest exclusively in
assets satisfying the requirements of clauses (a) through (f) of this definition.
“Change of Control”: the occurrence of any of the following events: (a) any “person”
or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of
1934, as amended (the “Exchange Act”)), excluding the Permitted Investors, shall become, or
obtain rights (whether by means or warrants, options or otherwise) to become, the “beneficial
owner” (as defined in Rules 13(d)-3 and 13(d)-5 under the Exchange Act), directly or indirectly, of
more than 35% of the outstanding common stock of Holdings; (b) the board of directors of Holdings
shall cease to consist of a majority of Continuing Directors; (c) (i) prior to the consummation of
a Qualified Initial Public Offering, Holdings shall cease to own and control, of record and
beneficially, directly, 100% of each class of outstanding Capital Stock of Mapco Express (other
than Capital Stock issued or transferred in connection with a Management Stock Issuance to the
extent not exceeding 7.5% of the outstanding Capital Stock of Mapco Express) free and clear of all
Liens (except Liens created by the Guarantee and Collateral Agreement) and (ii) following the
consummation of a Qualified Initial Public Offering, Holdings shall at any time cease to own of
record and beneficially, directly, more than fifty percent (50%) of each class of outstanding
Capital Stock of Mapco Express or, in any event, capital stock representing voting control of Mapco
Express free and clear of all Liens (except Liens created by the Guarantee and Collateral
Agreement) and (d) Mapco Express shall cease to own and control, of record and beneficially,
directly, 100% of each class of outstanding Capital Stock of each of its Subsidiaries
(other than Joint Ventures to the extent permitted to exist pursuant to the terms of this
Agreement) free and clear of all Liens (except Liens created by the Guarantee and Collateral
Agreement).
5
“Co-Syndication Agents”: as defined in the preamble hereto.
“Code”: the Internal Revenue Code of 1986, as amended from time to time.
“Collateral”: all Property of the Loan Parties, now owned or hereafter acquired, upon
which a Lien is purported to be created by any Security Document.
“Commitment”: with respect to any Lender, the Revolving Credit Commitment of such
Lender.
“Commitment Fee”: as defined in Section 2.7.
“Commitment Fee Rate”: means three quarters of one percent (.75%) per annum; provided,
that, on and after the first Adjustment Date occurring after the completion of the fiscal quarter
of the Borrowers ending December 31, 2010, the Commitment Fee Rate will be determined pursuant to
the Pricing Grid.
“Commonly Controlled Entity”: an entity, whether or not incorporated, that is under
common control with a Borrower within the meaning of Section 4001 of ERISA or is part of a group
that includes a Borrower and that is treated as a single employer under Section 414 of the Code.
“Compliance Certificate”: a certificate duly executed by a Responsible Officer,
substantially in the form of Exhibit B.
“Concentration Account”: as defined in the Guarantee and Collateral Agreement.
“Consolidated Adjusted Debt”: on any date, the sum of (a) Funded Debt of the
Borrowers and their Subsidiaries on such date, determined on a consolidated basis in accordance
with GAAP, plus (b) the product of Consolidated Lease Expense for the period of four
consecutive fiscal quarters most recently ended on or prior to such date multiplied
by 8.
“Consolidated Adjusted Leverage Ratio”: as at the last day of any period of four
consecutive fiscal quarters of the Borrowers, the ratio of (a) Consolidated Adjusted Debt on such
day to (b) Consolidated EBITDAR of the Borrowers and their Subsidiaries for such period.
“Consolidated EBITDA”: of any Person for any period, Consolidated Net Income of such
Person and its Subsidiaries for such period (other than (w) gains or losses from the sale,
exchange, transfer or other Disposition of Property or assets not in the ordinary course of
business of the Borrowers and their Subsidiaries, and related tax effects in accordance with GAAP,
(x) gains or losses from the sale, exchange, transfer or other Disposition of Surplus Gross Capital
Expenditures, and related tax effects in accordance with GAAP, (y) any other extraordinary gains or
losses of a Borrower or its Subsidiaries, and related tax effects, in each case, in
6
accordance with
GAAP and (z) unusual or non-recurring gains or income (or losses or
expenses), and related tax effects in accordance with GAAP, all of which shall be excluded),
plus, in each case, without duplication and to the extent deducted in the calculation of
Consolidated Net Income for such period, all as determined on a consolidated basis, the sum of (a)
income tax expense, (b) interest expense (less interest income), amortization or writeoff of debt
discount and debt issuance costs and commissions, discounts and other fees and charges associated
with Indebtedness, (c) depreciation and amortization expense, (d) amortization of intangibles
(including, but not limited to, goodwill) and organization costs, and (e) all non-cash losses or
expenses (or minus non-cash income or gain) included or deducted in calculating Consolidated Net
Income for such period, but excluding any non-cash loss or expense (x) that is an accrual of a
reserve for a cash expenditure or payment to be made, or anticipated to be made, in a future period
or (y) relating to a write-down, write off or reserve with respect to accounts and inventory,
provided, that, for purposes of calculating Consolidated EBITDA of the Borrowers and their
Subsidiaries for any period :
(i) the Consolidated EBITDA of any Person (or business unit or asset group of
any other Person (a “Business Unit”)) acquired by the Borrowers or their
Subsidiaries during such period shall be included on a pro forma basis for such
period (assuming the consummation of such acquisition and the incurrence or
assumption of any Indebtedness in connection therewith occurred on the first day of
such period) if the consolidated balance sheet of such acquired Person and its
consolidated Subsidiaries or of such Business Unit as at the end of the period
preceding the acquisition of such Person or of such Business Unit and the related
consolidated statements of income and stockholders’ equity and of cash flows for the
period in respect of which Consolidated EBITDA is to be calculated (x) have been
previously provided to the Administrative Agent and the Lenders and (y) either (1)
have been reported on without a qualification arising out of the scope of the audit
by independent certified public accountants of nationally recognized standing or (2)
have been found acceptable by the Administrative Agent; and
(ii) the Consolidated EBITDA of any Person or Business Unit Disposed of by the
Borrowers or their Subsidiaries during such period shall be excluded for such period
(assuming the consummation of such Disposition and the repayment of any Indebtedness
in connection therewith occurred on the first day of such period); and
provided, further, that, for purposes of calculating Consolidated EBITDA as of any
date of measurement ending prior to December 31, 2011, Consolidated EBITDA for any period set forth
below included in the twelve month period ending on such date shall be deemed to equal the amount
set forth below for such period:
|
|
|
|
|
Period: |
|
Pre-Closing EBITDA |
|
|
Fiscal month ended December 31, 2009 |
|
$ |
1,369,708 |
|
Fiscal quarter ended March 31, 2010 |
|
$ |
4,081,623 |
|
Fiscal quarter ended June 30, 2010 |
|
$ |
14,580,693 |
|
Fiscal quarter ended September 30, 2010 |
|
$ |
15,091,503 |
|
Fiscal month ended October 31, 2010 |
|
$ |
2,888,217 |
|
Fiscal month ending November 30, 2010 |
|
$ |
883,639 |
|
7
For the fiscal month ended December 31, 2010, Consolidated EBITDA shall be deemed to equal actual
Consolidated EBITDA for such fiscal month, adjusted in a manner consistent with the methodology
used in calculating the Pre-Closing EBITDA for the periods set forth above.
“Consolidated EBITDAR”: of any Person for any period, the Consolidated EBITDA of such
Person for such period, plus Consolidated Lease Expense of such Person for such period.
“Consolidated Fixed Charge Coverage Ratio”: for any period, the ratio of (a) (x)
Consolidated EBITDA of the Borrowers and their Subsidiaries for such period minus (y) the
aggregate amount actually paid by the Borrowers and their Subsidiaries in cash during such period
on account of Maintenance Capital Expenditures, to (b) Consolidated Fixed Charges for such period.
“Consolidated Fixed Charges”: for any period, (x) the sum (without duplication) of
(a) Consolidated Interest Expense of the Borrowers and their Subsidiaries for such period, (b)
provision for cash income taxes made by the Borrowers or any of their Subsidiaries on a
consolidated basis in respect of such period, (c) scheduled payments (other than principal payments
of Revolving Credit Loans) made during such period on account of principal of Indebtedness of the
Borrowers or any of their Subsidiaries and (d) the aggregate amount, without duplication, of all
Restricted Payments made by the Borrowers pursuant to Sections 7.6(c) and 7.6(e) during such period
(whether or not made in compliance with such Sections 7.6(c) and 7.6(e)) minus (y) any
Holdings’ Equity Contribution made during such period; provided, that, the aggregate amount
permitted to be deducted from Consolidated Fixed Charges pursuant to this clause (y) shall not
exceed an amount equal to $10,000,000 plus the amount of all Restricted Payments made by
Mapco Express during such period to Holdings in accordance with Sections 7.6(c) and 7.6(e). For
purposes of calculating Consolidated Fixed Charge Coverage Ratio as of any date of measurement
ending prior to December 31, 2011: (a) provision for cash income taxes and the aggregate amount of
all Restricted Payments made by the Borrowers in accordance with Section 7.6(e) shall be calculated
using the actual amounts in respect thereof during each such measurement period; (b) scheduled
payments (other than principal payments of Revolving Credit Loans) made during such period on
account of principal of Indebtedness of the Borrowers or any of their Subsidiaries (such payments,
“Principal Payments”) (i) for the measurement period ending on March 31, 2011, shall equal
Principal Payments made during the period commencing on January 1, 2011 through March 31, 2011
multiplied by 4, (ii) for the measurement period ending on June 30, 2011, shall equal Principal
Payments made during the period commencing on January 1, 2011 through June 30, 2011 multiplied by
2, and (iii) for the measurement period ending on September 30, 2011, shall equal Principal
Payments made during the period commencing on January 1, 2011 through September 30, 2011 multiplied
by 4/3, and (c) Holdings’ Equity Contribution made during such period shall be calculated using the
actual amounts in respect thereof made after the First Amendment Effective Date and during each
such measurement period (subject to the limitations set forth above).
8
“Consolidated Interest Expense”: of any Person for any period, total cash interest
expense (including that attributable to Capital Lease Obligations) of such Person and its
Subsidiaries for such period with respect to all outstanding Indebtedness of such Person and its
Subsidiaries (including, without limitation, all commissions, discounts and other fees and
charges owed by such Person with respect to letters of credit and bankers’ acceptance financing and
net costs of such Person under Hedge Agreements in respect of interest rates to the extent such net
costs are allocable to such period in accordance with GAAP). For purposes of calculating
Consolidated Interest Expense as of any date of measurement ending prior to December 31, 2011,
Consolidated Interest Expense (a) for the measurement period ending on March 31, 2011, shall equal
Consolidated Interest Expense during the period commencing on January 1, 2011 through March 31,
2011 multiplied by 4, (b) for the measurement period ending on June 30, 2011, shall equal
Consolidated Interest Expense during the period commencing on January 1, 2011 through June 30, 2011
multiplied by 2, and (c) for the measurement period ending on September 30, 2011, shall equal
Consolidated Interest Expense during the period commencing on January 1, 2011 through September 30,
2011 multiplied by 4/3.
“Consolidated Lease Expense”: for any period, the aggregate amount of fixed and
contingent rentals payable by the Borrowers and their Subsidiaries for such period with respect to
leases of real and personal Property, determined on a consolidated basis in accordance with GAAP;
provided, that neither (a) any such rentals or costs and any lease expense pertaining to
any leased retail stores for which the underlying lease agreements shall have been terminated by
the Borrowers during such period nor (b) payments in respect of Capital Lease Obligations shall
constitute Consolidated Lease Expense.
“Consolidated Leverage Ratio”: as at the last day of any period of four consecutive
fiscal quarters of the Borrowers, the ratio of (a) Consolidated Total Debt on such day to (b)
Consolidated EBITDA of the Borrowers and their Subsidiaries for such period.
“Consolidated Net Income”: of any Person for any period, the consolidated net income
(or loss) of such Person and its Subsidiaries for such period, determined on a consolidated basis
in accordance with GAAP; provided, that in calculating Consolidated Net Income of the
Borrowers and their Subsidiaries for any period, there shall be excluded (a) the income (or
deficit) of any Person accrued prior to the date it becomes a Subsidiary of a Borrower or is merged
into or consolidated with a Borrower or any of its Subsidiaries, (b) the income (or deficit) of any
Person (other than a Subsidiary of a Borrower) in which a Borrower or any of its Subsidiaries has
an ownership interest, except to the extent that any such income is actually received by such
Borrower or such Subsidiary in the form of dividends or similar distributions and (c) the
undistributed earnings of any Subsidiary of a Borrower to the extent that the declaration or
payment of dividends or similar distributions by such Subsidiary is not at the time permitted by
the terms of any Contractual Obligation (other than under any Loan Document) or Requirement of Law
applicable to such Subsidiary.
“Consolidated Total Debt”: at any date, without duplication, the aggregate principal
amount of all Indebtedness of the Borrowers and their Subsidiaries (excluding all obligations of
such Persons, contingent or otherwise, as an account party or applicant under acceptance, letter of
credit or similar facilities) at such date, determined on a consolidated basis in accordance with
GAAP.
9
“Continuing Directors”: the directors of Holdings on the First Amendment Effective
Date and each other director of Holdings, if, in each case, such other director’s nomination for
election to the board of directors of Holdings is recommended by at least 60% of the then
Continuing Directors or such other director receives the vote of the Permitted Investors in his or
her election by the shareholders of Holdings.
“Contractual Obligation”: as to any Person, any provision of any security issued by
such Person or of any agreement, instrument or other undertaking to which such Person is a party or
by which it or any of its Property is bound.
“Control Agreement” means a tri-party deposit account, securities account or
commodities account control agreement by and among the applicable Loan Party, Administrative Agent
and the depository, securities intermediary or commodities intermediary, and each in form and
substance reasonably satisfactory in all respects to the Administrative Agent and in any event
providing to Administrative Agent “control” of such deposit account, securities or commodities
account within the meaning of Articles 8 and 9 of the UCC.
“Control Investment Affiliate”: as to any Person, any other Person that (a) directly
or indirectly, is in control of, is controlled by, or is under common control with, such Person and
(b) is organized by such Person primarily for the purpose of making equity or debt investments in
one or more companies. For purposes of this definition, “control” of a Person means the power,
directly or indirectly, to direct or cause the direction of the management and policies of such
Person, whether by contract or otherwise.
“Default”: any of the events specified in SECTION 8, whether or not any requirement
for the giving of notice, the lapse of time, or both, has been satisfied.
“Defaulting Lender” means any Lender that (a) has failed to fund any amounts required
to be funded by it under this Agreement or any other Loan Document within two (2) days after the
date that it is required to do so under this Agreement or the other Loan Documents, (b) notified
any Borrower, the Administrative Agent, or any Lender in writing that it does not intend to comply
with all or any portion of its funding obligations under this Agreement or any other Loan Document,
(c) has made a public statement to the effect that it does not intend to comply with its funding
obligations under this Agreement, the other Loan Documents or under other agreements generally (as
reasonably determined by the Administrative Agent) under which it has committed to extend credit,
(d) failed, within one (1) Business Day after written request by the Administrative Agent, to
confirm that it will comply with the terms of this Agreement or any other Loan Document relating to
its obligations to fund any amounts required to be funded by it under this Agreement and the other
Loan Documents, (e) otherwise failed to pay over to the Administrative Agent or any other Lender
any other amount required to be paid by it under this Agreement or any other Loan Document on the
date that it is required to do so under this Agreement or the applicable other Loan Document, or
(f) (i) becomes or is insolvent or has a parent company that has become or is insolvent (in either
such case in this clause (f)(i), as determined by applicable law) or (ii) becomes the subject of a
bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, or custodian or
appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval
of or acquiescence in any such proceeding or appointment or has a parent company that has become
the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee,
or custodian appointed for it, or has taken any action in furtherance of, or indicating its consent
to, approval of
or acquiescence in any such proceeding or appointment and, in the case of this clause (f), the
Administrative Agent has determined that such Lender is reasonably likely to fail to fund any
payments required to be made by it under this Agreement or any other Loan Document.
10
“Deposit Accounts”: as defined in the Guarantee and Collateral Agreement.
“Derivatives Counterparty”: as defined in Section 7.6.
“Disposition”: with respect to any Property, any sale, lease (as lessor), sale and
leaseback, assignment, conveyance, transfer, lease termination (but not lease expiration) or other
disposition thereof; and the terms “Dispose” and “Disposed of” shall have
correlative meanings.
“Documentation Agent”: as defined in the preamble hereto.
“Dollars” and “$”: dollars in lawful currency of the United States of
America.
“Domestic Subsidiary”: any Subsidiary of a Borrower organized under the laws of any
jurisdiction within the United States of America.
“Environmental Laws”: any and all laws, rules, orders, regulations, statutes,
ordinances, guidelines, codes, decrees, or other legally enforceable requirements (including,
without limitation, common law) of any international authority, foreign government, the United
States, or any state, local, municipal or other Governmental Authority, regulating, relating to or
imposing liability or standards of conduct concerning protection of the environment or of human
health, or employee health and safety, as has been, is now, or may at any time hereafter be, in
effect.
“Environmental Permits”: any and all permits, licenses, approvals, registrations,
notifications, exemptions and other authorizations pursuant to or required under any applicable
Environmental Law.
“ERISA”: the Employee Retirement Income Security Act of 1974, as amended from time to
time.
“Eurocurrency Reserve Requirements”: for any day, the aggregate (without duplication)
of the maximum rates (expressed as a decimal fraction) of reserve requirements in effect on such
day (including, without limitation, basic, supplemental, marginal and emergency reserves) under any
regulations of the Board or other Governmental Authority having jurisdiction with respect thereto
dealing with reserve requirements prescribed for eurocurrency funding (currently referred to as
“Eurocurrency Liabilities” in Regulation D of the Board) maintained by a member bank of the Federal
Reserve System.
“Eurodollar Base Rate”: with respect to each day during each Interest Period, the
rate per annum determined on the basis of the rate for deposits in Dollars for a period equal to
such Interest Period commencing on the first day of such Interest Period appearing on Reuters
Screen LIBOR01 Page as of 11:00 A.M. (London, England time), two Business Days prior to the
beginning of such Interest Period. In the event that such rate described in clause (a) above does
not appear on Reuters Screen LIBOR01 Page screen (or otherwise on such screen), the “Eurodollar
Base Rate” for purposes of this definition shall be determined by reference to such
other comparable publicly available service for displaying eurodollar rates as may be selected
by the Administrative Agent.
11
“Eurodollar Loans”: Loans for which the applicable rate of interest is based upon the
Eurodollar Rate.
“Eurodollar Rate”: with respect to each day during each Interest Period, a rate per
annum determined for such day in accordance with the following formula (rounded upward to the
nearest 1/100th of 1%):
Eurodollar Base Rate
1.00 - Eurocurrency Reserve Requirements
“Eurodollar Tranche”: the collective reference to Eurodollar Loans under a particular
Facility the then current Interest Periods with respect to all of which begin on the same date and
end on the same later date (whether or not such Loans shall originally have been made on the same
day).
“Event of Default”: any of the events specified in SECTION 8, provided that
any requirement for the giving of notice, the lapse of time, or both, has been satisfied.
“Excluded Foreign Subsidiary”: any Foreign Subsidiary in respect of which either (a)
the pledge of all of the Capital Stock of such Subsidiary as Collateral or (b) the guaranteeing by
such Subsidiary of the Obligations, would, in the good faith judgment of a Borrower, result in
adverse tax consequences to such Borrower.
“Exempt Properties”: the real properties listed on Schedule 1.1A-1.
“Existing Credit Agreement”: as defined in the recitals hereto.
“Existing Letters of Credit”: the letters of credit described in Annex A.
“Existing Mortgages”: the collective reference to each existing deed of trust and
mortgage, as amended, delivered pursuant to the Existing Credit Agreement in respect of the
Mortgaged Properties.
“Existing Revolving Credit Loans”: as defined in Section 2.4.
“Existing Term Loans”: as defined in Section 2.1.
“Facility”: each of (a) the Term Loan Commitments and the Term Loans made thereunder
(the “Term Loan Facility”), and (b) the Revolving Credit Commitments and the extensions of
credit made thereunder (the “Revolving Credit Facility”).
“
Federal Funds Effective Rate”: for any day, the weighted average of the rates on
overnight federal funds transactions with members of the Federal Reserve System arranged by federal
funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of
New
York, or, if such rate is not so published for any day that is a Business Day, the
average of the quotations for the day of such transactions received by the Administrative
Agent from three federal funds brokers of recognized standing selected by it.
12
“Fifth Third Joint Arranger”: as defined in the preamble hereto.
“First Amendment Effective Date”: the date on which the conditions precedent set
forth in Section 5.1 shall have been satisfied, which date shall be not later than December 31,
2010.
“First Amendment Effective Date Dividend” means one or more cash dividends made by
Mapco Express to Holdings on the First Amendment Effective Date (or within thirty days following
the First Amendment Effective Date) in an amount not to exceed $15,000,000 in the aggregate with
respect to all such cash dividends.
“Foreign Subsidiary”: any Subsidiary of a Borrower that is not a Domestic Subsidiary.
“FQ1”, “FQ2 ”, “FQ3”, and “FQ4”: when used with a numerical
year designation, means the first, second, third or fourth fiscal quarters, respectively, of such
fiscal year of the Borrowers (e.g., FQ1 2011 means the first fiscal quarter of the Borrowers’ 2011
fiscal year, which ends December 31, 2011).
“Funded Debt”: with respect to any Person, all Indebtedness of such Person of the
types described in clauses (a) through (e) of the definition of “Indebtedness” in this Section 1.1.
“Funding Office”: the office specified from time to time by the Administrative Agent
as its funding office by notice to the Borrowers and the Lenders.
“Funds Transfer and Deposit Account Liability” means the liability of a Loan Party or
any Subsidiary of any Loan Party owing to any of the Lenders or any Affiliates of such Lenders,
arising out of (a) the execution or processing of electronic transfers of funds by automatic
clearing house transfer, wire transfer or otherwise to or from the deposit accounts of a Loan Party
and/or any Subsidiary of a Loan Party now or hereafter maintained with any of the Lenders or their
Affiliates, (b) the acceptance for deposit or the honoring for payment of any check, draft or other
item with respect to any such deposit accounts, and (c) any other deposit, disbursement, and cash
management services afforded to any Loan Party or any Subsidiary of any Loan Party by any of such
Lenders or their Affiliates.
“GAAP”: generally accepted accounting principles in the United States of America as
in effect from time to time.
“Governmental Authority”: any nation or government, any state or other political
subdivision thereof, any agency, authority, instrumentality, regulatory body, court, central bank
or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative
functions of or pertaining to government, any securities exchange and any self-regulatory
organization (including the National Association of Insurance Commissioners).
13
“Growth Capital Expenditures”: all Capital Expenditures made (a) for the reimaging,
expanding and remodeling of existing convenience stores owned or leased by the Borrowers, (b) for
the acquisition of fee or leasehold real estate used for convenience store locations that are
new to Borrowers or their Subsidiaries, (c) for the acquisition of fee interests in existing
leased convenience store locations, (d) for the construction of, and purchase of personal Property
for, convenience store locations that are new to the Borrower or their Subsidiaries and (e) to
reimage, remodel or upgrade any personal Property used by the Borrowers and their Subsidiaries in
connection with any convenience store location. For purposes of clarification, if any Borrower or
any Subsidiary of a Borrower makes an acquisition of any Person (or any business unit or asset
group of any Person) (such Person, business unit or asset group is referred to herein as an
“Acquisition Target”) and such Borrower or such Subsidiary intends to operate such Acquisition
Target as a going concern and does not intend at the time of such acquisition to upgrade, reimage,
expand or remodel such Acquisition Target (or the assets acquired in connection with the
acquisition of a Person), except for such reimaging and rebranding, if any, as the Borrowers
determine is reasonably appropriate in connection with such acquisition, to conform an Acquisition
Target to standard images then utilized by the Borrowers or their Subsidiaries (such reimaging and
rebranding is referred to herein as “Acquisition Target Reimaging”), then (x) the purchase price
paid in connection with such acquisition shall not constitute Growth Capital Expenditures and shall
be treated as an Investment and shall count against the permitted Investment basket contained in
Section 7.8(g) and (y) the costs and expenses incurred to consummate the Acquisition Target
Reimaging, if any, shall be treated as an Investment and shall count against the permitted
Investment basket contained in Section 7.8(g).
“Guarantee and Collateral Agreement”: the Amended and Restated Guarantee and
Collateral Agreement executed and delivered by the Borrowers and each Subsidiary Guarantor to the
Administrative Agent on the date hereof, as the same has been and may further be amended,
supplemented or otherwise modified from time to time.
“Guarantee Obligation”: as to any Person (the “guaranteeing person”), any
obligation, including a reimbursement, counterindemnity or similar obligation, of the guaranteeing
person that guarantees or in effect guarantees, or which is given to induce the creation of a
separate obligation by another Person (including any bank under any letter of credit) that
guarantees or in effect guarantees any Indebtedness, leases, dividends or other obligations (the
“primary obligations”) of any other third Person (the “primary obligor”) in any
manner, whether directly or indirectly, including, without limitation, any obligation of the
guaranteeing person, whether or not contingent, (i) to purchase any such primary obligation or any
Property constituting direct or indirect security therefor, (ii) to advance or supply funds (1) for
the purchase or payment of any such primary obligation or (2) to maintain working capital or equity
capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary
obligor, (iii) to purchase Property, securities or services primarily for the purpose of assuring
the owner of any such primary obligation of the ability of the primary obligor to make payment of
such primary obligation or (iv) otherwise to assure or hold harmless the owner of any such primary
obligation against loss in respect thereof; provided, however, that the term
Guarantee Obligation shall not include endorsements of instruments for deposit or collection in the
ordinary course of business. The amount of any Guarantee Obligation of any guaranteeing person
shall be deemed to be the lower of (a) an amount equal to the stated or determinable amount of the
primary obligation in respect of which such Guarantee Obligation is made and (b) the maximum amount
for which such guaranteeing person may be liable pursuant to the terms of the instrument embodying
such Guarantee Obligation, unless such primary obligation and the maximum amount for which such
guaranteeing person may be liable are not stated or determinable, in which case the amount of
such Guarantee Obligation shall be such guaranteeing person’s maximum reasonably anticipated
liability in respect thereof as determined by the Borrowers in good faith.
14
“Hapoalim Arranger”: as defined in the preamble hereto.
“Hedge Agreements”: all interest rate or currency swaps, caps or collar agreements,
foreign exchange agreements, commodity contracts or similar arrangements entered into by the
Borrowers or their Subsidiaries providing for protection against fluctuations in interest rates,
currency exchange rates, commodity prices or the exchange of nominal interest obligations, either
generally or under specific contingencies.
“Holdings’ Equity Contribution”: any cash equity contribution to Mapco Express made
by Holdings.
“Indebtedness”: of any Person at any date, without duplication, (a) all indebtedness
of such Person for borrowed money, (b) all obligations of such Person for the deferred purchase
price of Property or services (other than trade payables incurred in the ordinary course of such
Person’s business), (c) all obligations of such Person evidenced by notes, bonds, debentures or
other similar instruments, (d) all indebtedness created or arising under any conditional sale or
other title retention agreement with respect to Property acquired by such Person (even though the
rights and remedies of the seller or lender under such agreement in the event of default are
limited to repossession or sale of such Property), (e) all Capital Lease Obligations of such
Person, (f) all obligations of such Person, contingent or otherwise, as an account party or
applicant under acceptance, letter of credit, surety bond or similar facilities, (g) all
obligations of such Person, contingent or otherwise, to purchase, redeem, retire or otherwise
acquire for value any Capital Stock of such Person, (h) all Guarantee Obligations of such Person in
respect of obligations of the kind referred to in clauses (a) through (g) above, (i) all
obligations of the kind referred to in clauses (a) through (h) above secured by (or for which the
holder of such obligation has an existing right, contingent or otherwise, to be secured by) any
Lien on Property (including, without limitation, accounts and contract rights) owned by such
Person, whether or not such Person has assumed or become liable for the payment of such obligation
and (j) for the purposes of SECTION 8(e) only, all obligations of such Person in respect of Hedge
Agreements. The Indebtedness of any Person shall include the Indebtedness of any other entity
(including any partnership in which such Person is a general partner) to the extent such Person is
liable therefor as a result of such Person’s ownership interest in or other relationship with such
entity, except to the extent the terms of such Indebtedness expressly provide that such Person is
not liable therefor.
“Indemnified Liabilities”: as defined in Section 10.5.
“Indemnitee”: as defined in Section 10.5.
15
“Insolvency”: with respect to any Multiemployer Plan, the condition that such Plan is
insolvent within the meaning of Section 4245 of ERISA.
“Insolvent”: pertaining to a condition of Insolvency.
“Intellectual Property”: the collective reference to all rights, priorities and
privileges relating to intellectual property, whether arising under United States, multinational or
foreign laws or otherwise, including, without limitation, copyrights, copyright licenses, patents,
patent licenses, trademarks, trademark licenses, technology, know-how and processes, and all rights
to xxx at law or in equity for any infringement or other impairment thereof, including the right to
receive all proceeds and damages therefrom.
“Interest Payment Date”: (a) as to any Base Rate Loan, the last day of each March,
June, September and December to occur while such Loan is outstanding and the final maturity date of
such Loan, (b) as to any Eurodollar Loan, the last day of such Interest Period and (c) as to any
Loan (other than any Revolving Credit Loan that is a Base Rate Loan and any Swing Line Loan), the
date of any repayment or prepayment made in respect thereof.
“
Interest Period”: as to any Eurodollar Loan, (a) initially, the period commencing on
the borrowing or conversion date, as the case may be, with respect to such Eurodollar Loan and
ending one, two or three months thereafter, as selected by a Borrower in its notice of borrowing or
notice of conversion, as the case may be, given with respect thereto; and (b) thereafter, each
period commencing on the last day of the next preceding Interest Period applicable to such
Eurodollar Loan and ending one, two or three months thereafter, as selected by such Borrower by
irrevocable notice to the Administrative Agent not later than 12:00 P.M.,
New York City time, on
the date that is three Business Days prior to the last day of the then current Interest Period with
respect thereto;
provided that, all of the foregoing provisions relating to Interest
Periods are subject to the following:
|
(1) |
|
if any Interest Period would otherwise end on a day that is not
a Business Day, such Interest Period shall be extended to the next succeeding
Business Day unless the result of such extension would be to carry such
Interest Period into another calendar month in which event such Interest Period
shall end on the immediately preceding Business Day; |
|
(2) |
|
any Interest Period for any Revolving Credit Loan that would
otherwise extend beyond the Revolving Credit Termination Date shall end on the
Revolving Credit Termination Date; and |
|
(3) |
|
any Interest Period for any Term Loan that would otherwise
extend beyond the date final payment is due on the Term Loans shall end on such
date; and |
|
(4) |
|
any Interest Period that begins on the last Business Day of a
calendar month (or on a day for which there is no numerically corresponding day
in the calendar month at the end of such Interest Period) shall end on the last
Business Day of the calendar month at the end of such Interest Period. |
16
“Investments”: as defined in Section 7.8.
“Issuing Lender”: Fifth Third and any Revolving Credit Lender from time to time
designated by the Borrowers as an Issuing Lender with the consent of such Revolving Credit Lender
and the Administrative Agent (which such consent of the Administrative Agent not to be
unreasonably withheld); provided, that, in no event shall there be more than two (2) Revolving
Credit Lenders (other than Fifth Third) designated as an “Issuing Lender” hereunder as of any date
of determination.
“Joint Venture”: any joint venture that is (a) structured as a corporation, a limited
liability company or other legal entity that is reasonably acceptable to the Required Lenders and
is, in any such case, in form and substance (and governed by organizational documents) reasonably
acceptable to the Required Lenders, (b) entered into by a Borrower or one of its Wholly Owned
Subsidiaries with a non-Affiliated third party land developer who is reasonably acceptable to the
Required Lenders, and (c) entered into by such Borrower or such Subsidiary on an arm’s length basis
to engage in the joint undertaking of a business, which such business shall consist solely of Build
to Suit Projects; provided, that, in addition to the forgoing, any and all agreements by a Borrower
or a Subsidiary of a Borrower to assume liability for any liabilities of the Joint Venture (whether
by operation of law or by contract) shall be consented to by the Required Lenders.
“L/C Commitment”: $50,000,000; provided, that at the option of the Borrowers,
exercisable by written notice delivered to the Administrative Agent in connection with the delivery
of a Revolving Commitment Increase Notice (as defined in Section 2.26), the L/C Commitment may, at
the option of the Borrowers, be increased proportionately by the percentage increase in the Total
Revolving Credit Commitment resulting from the consummation of the transaction described in such
Revolving Commitment Increase Notice.
“L/C Fee Payment Date”: the last day of each March, June, September and December and
the last day of the Revolving Credit Commitment Period.
“L/C Obligations”: at any time, an amount equal to the sum of (a) the aggregate then
undrawn and unexpired amount of the then outstanding Letters of Credit and (b) the aggregate amount
of drawings under Letters of Credit that have not then been reimbursed pursuant to Section 3.5.
“L/C Participants”: with respect to any Letter of Credit, the collective reference to
all the Revolving Credit Lenders other than the Issuing Lender that issued such letter of Credit.
“La Xxxxxx Affiliate”: Delek Refining Ltd., a Texas limited partnership and a Wholly
Owned Subsidiary of Holdings.
“La Xxxxxx Credit Facility”: the credit facility provided by financial institutions to
the La Xxxxxx Affiliate and Delek Pipeline Texas, Inc., the proceeds of which were used by the La
Xxxxxx Affiliate and Delek Pipeline Texas, Inc. to acquire the La Xxxxxx refinery located in Tyler,
Texas.
17
“La Xxxxxx Management Agreement”: the services agreement entered into between the La
Xxxxxx Affiliate and MAPCO Express, as amended, supplemented or otherwise modified from time to
time in accordance with Section 7.15.
“La Xxxxxx Management Fee”: the monthly management fee paid to MAPCO Express by the La
Xxxxxx Affiliate pursuant to the La Xxxxxx Management Agreement.
“
La Xxxxxx Termination Condition”: the Administrative Agent shall have received
satisfactory evidence from the Borrowers that the obligations of the Borrowers under the La Xxxxxx
Management Agreement have been transferred to
Delek US Holdings, Inc. and that the Borrowers have
no further outstanding obligations to provide any services thereunder.
“Lenders”: as defined in the preamble hereto.
“Letters of Credit”: as defined in Section 3.1(a).
“Letter of Credit Fees”: as defined in Section 3.3.
“Lien”: any mortgage, pledge, hypothecation, assignment, deposit arrangement,
encumbrance, lien (statutory or other), charge or other security interest or any preference,
priority or other security agreement or preferential arrangement of any kind or nature whatsoever
(including, without limitation, any conditional sale or other title retention agreement and any
capital lease having substantially the same economic effect as any of the foregoing).
“Loan”: any loan made by any Lender pursuant to this Agreement.
“Loan Documents”: this Agreement, the Security Documents, the Applications and the
Notes.
“Loan Parties”: the Borrowers and each Subsidiary of a Borrower that is a party to a
Loan Document (including, without limitation, any Subsidiary Guarantor).
“Maintenance Capital Expenditures”: all Capital Expenditures other than Growth Capital
Expenditures; provided, that, for purposes of calculating Maintenance Capital Expenditures
as of any date of measurement ending prior to December 31, 2011, Maintenance Capital Expenditures
for any period set forth below included in the twelve month period ending on such date shall be
deemed to equal the amount set forth below for such period:
|
|
|
|
|
Period: |
|
Pre-Closing Maintenance Capital Expenditures |
|
|
Fiscal month ended December 31, 2009 |
|
$ |
981,832 |
|
Fiscal quarter ended March 31, 2010 |
|
$ |
682,547 |
|
Fiscal quarter ended June 30, 2010 |
|
$ |
1,137,561 |
|
Fiscal quarter ended September 30, 2010 |
|
$ |
1,201,777 |
|
Fiscal month ending October 31, 2010 |
|
$ |
353,474 |
|
Fiscal month ending November 30, 2010 |
|
$ |
188,960 |
|
18
For the fiscal month ending December 31, 2010, Maintenance Capital Expenditures shall be deemed to
equal actual Maintenance Capital Expenditures for such period, adjusted in a manner consistent with
the methodology used in calculating the Pre-Closing Maintenance Capital Expenditures for the
periods set forth above.
“Majority Facility Lenders”: with respect to any Facility, Lenders holding at least
sixty six and two-thirds percent (66-2/3%) of (a) in the case of the Term Loan Facility, the
aggregate unpaid principal amount of the Term Loans, and (b) in the case of the Revolving Credit
Facility,
the Total Revolving Credit Commitments (or, if the Total Revolving Credit Commitments shall
have been terminated or for any other reason are no longer in effect, the Total Revolving
Extensions of Credit then outstanding) in each case, without giving effect to any Revolving Credit
Commitments (or Revolving Extensions of Credit, as the case may be) of any Defaulting Lenders.
“Majority Revolving Credit Facility Lenders”: the Majority Facility Lenders in respect
of the Revolving Credit Facility from time to time; provided, however, “Majority
Revolving Credit Facility Lenders” shall be determined without any consideration of any Revolving
Credit Commitments (or Revolving Extensions of Credit, as the case may be) of any Defaulting
Lenders, with any such Lender being deemed not to be a “Lender” hereunder for purposes of
calculating Majority Facility Lenders and all Defaulting Lenders’ Revolving Credit Commitments (or
Revolving Extensions of Credit, as the case may be) shall be deemed to be zero ($0), whether or not
funded in whole or in part.
“Management Stock Issuance”: the issuance or transfer by Mapco Express of common
Capital Stock of Mapco Express to officers and employees of Mapco Express in connection with
Management Stock Plans, provided, that the aggregate amount of all issuances or other transfers by
Mapco Express from and after the First Amendment Effective Date shall not exceed, at any time, more
than seven and one half percent (7.5%) of the total issued and outstanding Capital Stock of Mapco
Express, after giving effect to such issuance or transfer.
“Management Stock Plans” mean any equity incentive or other plan, arrangement or
contract approved by the Board of Directors of Holdings or MAPCO Express pursuant to which MAPCO
Express issues or grants (i) shares of capital stock of MAPCO Express, (ii) options or other rights
to acquire capital stock of MAPCO Express, (iii) stock appreciation rights, (iv) restricted stock
units or awards, (v) performance stock or tax bonus awards or (vi) any awards or rights similar to
each of the foregoing to employees, advisors, officers, and directors of, and consultants to, MAPCO
Express and its Subsidiaries.
“MAPCO Express”: as defined in the preamble hereto.
“Material Adverse Effect”: a material adverse effect on (a) the business, assets,
property, operations or condition (financial or otherwise) of the Borrowers and their Subsidiaries
taken as a whole or (b) the validity or enforceability of this Agreement or any of the other Loan
Documents or the rights or remedies of the Agents or the Lenders hereunder or thereunder.
“Material Environmental Aggregate Amount”: an amount or amounts payable by the
Borrowers and/or any of their Subsidiaries, in the aggregate of $10,000,000 or more, for: costs to
comply with any Environmental Law; costs of any investigation, and any remediation, of any Material
of Environmental Concern; and compensatory damages (including, without limitation damages to
natural resources), punitive damages, fines, and penalties pursuant to any Environmental Law.
19
“Material Environmental Amount”: an amount or amounts payable by the Borrowers and/or
any of their Subsidiaries, in the aggregate in excess of $3,000,000, for: costs to comply with any
Environmental Law; costs of any investigation, and any remediation, of any Material of
Environmental Concern; and compensatory damages (including, without limitation damages to
natural resources), punitive damages, fines, and penalties pursuant to any Environmental Law.
“Materials of Environmental Concern”: any gasoline or petroleum (including crude oil
or any fraction thereof) or petroleum products, polychlorinated biphenyls, urea-formaldehyde
insulation, asbestos, pollutants, contaminants, radioactivity, and any other substances or
materials of any kind, whether or not any such substance or material is defined as hazardous or
toxic under any Environmental Law, that is regulated pursuant to or could give rise to liability
under any Environmental Law.
“Mortgage Amendment”: each of the amendments to the Existing Mortgage described on
Schedule 1.1A-2 executed and delivered by any Loan Party on the First Amendment Effective
Date.
“Mortgaged Properties”: the fee owned and leased real Property set forth on Schedule
4.8(a) (other than (x) Exempt Properties, (y) properties Disposed of in accordance with Section
7.5(e) and Section 7.5(h) and (z) Properties where the Mortgages have been released by the
Administrative Agent in accordance with the provisions of Section 10.15(a)), and any real Property
as to which a Mortgage is granted pursuant to Section 6.10 of this Agreement, in each case, as to
which the Administrative Agent for the benefit of the Secured Parties shall be granted a Lien
pursuant to one or more Mortgages.
“Mortgages”: each of the Existing Mortgages and each of the other mortgages and deeds
of trust made by any Loan Party in favor of, or for the benefit of, the Administrative Agent for
the benefit of the Secured Parties, substantially in the form of Exhibit D (with such changes
thereto as shall be advisable under the law of the jurisdiction in which such mortgage or deed of
trust is to be recorded), as the same may be amended, supplemented or otherwise modified from time
to time.
“Multiemployer Plan”: a Plan that is a multiemployer plan as defined in Section
4001(a)(3) of ERISA.
“Net Cash Proceeds”: (a) in connection with any Disposition of Property, the proceeds
thereof in the form of cash and Cash Equivalents (including any such proceeds received by way of
deferred payment of principal pursuant to a note or installment receivable or purchase price
adjustment receivable or otherwise, but only as and when received) of such Disposition, net of
attorneys’ fees, accountants’ fees, investment banking fees, amounts required to be applied to the
repayment of Indebtedness secured by a Lien expressly permitted to be senior to the Lien of the
Administrative Agent hereunder on any asset which is the subject of such Disposition (other than
any Lien pursuant to a Security Document) and other customary fees and expenses actually incurred
in connection therewith and net of taxes paid or reasonably estimated to be payable as a result
thereof (after taking into account any available tax credits or deductions and any tax sharing
arrangements), and (b) in connection with any issuance or sale of equity securities or debt
securities or instruments or the incurrence of loans, the cash proceeds received from such issuance
or incurrence, net of attorneys’ fees, investment banking fees, accountants’ fees, underwriting
discounts and commissions and other customary fees and expenses actually incurred in connection
therewith.
20
“New Lender Supplement”: as defined in Section 2.18(b).
“New Revolving Credit Lender”: as defined in Section 2.18(b).
“Non-Excluded Taxes”: as defined in Section 2.18(b).
“Non-U.S. Lender”: as defined in Section 2.18(f).
“Note”: any promissory note evidencing any Loan.
“Obligations”: the unpaid principal of and interest on (including, without
limitation, interest accruing after the maturity of the Loans and Reimbursement Obligations and
interest accruing after the filing of any petition in bankruptcy, or the commencement of any
insolvency, reorganization or like proceeding, relating to a Borrower, whether or not a claim for
post-filing or post-petition interest is allowed in such proceeding) the Loans, the Reimbursement
Obligations, any Funds Transfer and Deposit Account Liability and all other obligations and
liabilities of the Borrowers to the Administrative Agent or to any Lender, any Affiliate of a
Lender (in the case of any Funds Transfer and Deposit Account Liability), or any Qualified
Counterparty, whether direct or indirect, absolute or contingent, due or to become due, or now
existing or hereafter incurred, which may arise under, out of, or in connection with, this
Agreement, any other Loan Document, the Letters of Credit, any Specified Hedge Agreement, any
document governing Funds Transfer and Deposit Account Liability or any other document made,
delivered or given in connection herewith or therewith, whether on account of principal, interest,
reimbursement obligations, fees, indemnities, costs, expenses (including, without limitation, all
fees, charges and disbursements of counsel to the Administrative Agent or to any Lender that are
required to be paid by the Borrowers pursuant hereto) or otherwise; provided, that (i)
obligations of the Borrowers or any Subsidiary under any Specified Hedge Agreement shall be secured
and guaranteed pursuant to the Security Documents only to the extent that, and for so long as, the
other Obligations are so secured and guaranteed and (ii) any release of Collateral or Subsidiary
Guarantors effected in the manner permitted by this Agreement shall not require the consent of
holders of obligations under Specified Hedge Agreements.
“Other Taxes”: any and all present or future stamp or documentary taxes or any other
excise or property taxes, charges or similar levies arising from any payment made hereunder or from
the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any
other Loan Document.
“Participant”: as defined in Section 10.6(b).
21
“Payment Office”: the office specified from time to time by the Administrative Agent
as its payment office by notice to the Borrowers and the Lenders.
“PBGC”: the Pension Benefit Guaranty Corporation established pursuant to Subtitle A
of Title IV of ERISA (or any successor).
“Permitted Investors”: the collective reference to Delek Group and its Control
Investment Affiliates.
“Person”: an individual, partnership, corporation, limited liability company,
business trust, joint stock company, trust, unincorporated association, joint venture, Governmental
Authority or other entity of whatever nature.
“Plan”: at a particular time, any employee benefit plan that is covered by ERISA and
in respect of which a Borrower or a Commonly Controlled Entity is (or, if such plan were terminated
at such time, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in
Section 3(5) of ERISA.
“Pricing Grid”: the table set forth below.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Applicable Margin |
|
|
Applicable Margin for |
|
|
Commitment |
|
Consolidated Leverage Ratio |
|
for Base Rate Loans |
|
|
Eurodollar Loans |
|
|
Fee Rate |
|
> 3.00 to 1.00 |
|
|
3.00 |
% |
|
|
4.00 |
% |
|
|
.75 |
% |
≤ 3.00 to 1.00 and > 2.50 to 1.00 |
|
|
2.75 |
% |
|
|
3.75 |
% |
|
|
.75 |
% |
≤ 2.50 to 1.00 and > 2.00 to 1.00 |
|
|
2.50 |
% |
|
|
3.50 |
% |
|
|
.50 |
% |
≤ 2.00 to 1.00 |
|
|
2.25 |
% |
|
|
3.25 |
% |
|
|
.50 |
% |
For the purposes of the Pricing Grid, changes in the Applicable Margin resulting from changes in
the Consolidated Leverage Ratio shall become effective on each date (each, an “Adjustment
Date”) that is three Business Days after the date on which financial statements are delivered
to the Lenders pursuant to Section 6.1 and shall remain in effect until the next change to be
effected pursuant to this paragraph. If any financial statements referred to above are not
delivered within the time periods specified in Section 6.1, then, until the date that is three
Business Days after the date on which such financial statements are delivered, the highest rate set
forth in each column of the applicable table of the Pricing Grid shall apply. In addition, at all
times while an Event of Default shall have occurred and be continuing, the highest rate set forth
in each column of the applicable table of the Pricing Grid shall apply. Each determination of the
Consolidated Leverage Ratio pursuant to the applicable table of the Pricing Grid shall be made in a
manner consistent with the determination thereof pursuant to Section 7.1.
“Projections”: as defined in Section 6.2(c).
22
“Property”: any right or interest in or to property of any kind whatsoever, whether
real, personal or mixed and whether tangible or intangible, including, without limitation, Capital
Stock.
“Qualified Counterparty”: with respect to any Specified Hedge Agreement, any
counterparty thereto that, at the time such Specified Hedge Agreement was entered into, was a
Lender or an affiliate of a Lender.
“Qualified Initial Public Offering” means an underwritten initial public offering of
equity securities of Mapco Express pursuant to an effective registration statement under the
Securities Act of 1933 in which the gross proceeds received by Mapco Express are $25,000,000 or
more.
“Recovery Event”: any settlement of or payment in respect of any property or casualty
insurance claim or any condemnation proceeding relating to any asset of a Borrower or any of its
Subsidiaries.
“Refunded Swing Line Loans”: as defined in Section 2.24(b).
“Regions Co-Syndication Agent”: as defined in the preamble hereto.
“Regions Joint Arranger”: as defined in the preamble hereto.
“Register”: as defined in Section 10.6(c).
“Regulation H”: Regulation H of the Board as in effect from time to time.
“Regulation U”: Regulation U of the Board as in effect from time to time.
“Reimbursement Obligation”: the obligation of the Borrowers to reimburse each Issuing
Lender pursuant to Section 3.5 for amounts drawn under Letters of Credit issued by such Issuing
Lender.
“Related Fund”: with respect to any Lender, any fund that (x) invests in commercial
loans and (y) is managed or advised by the same investment advisor as such Lender, by such Lender
or an Affiliate of such Lender.
“Reorganization”: with respect to any Multiemployer Plan, the condition that such
plan is in reorganization within the meaning of Section 4241 of ERISA.
“Replacement Lender”: as defined in Section 2.22(a).
“Reportable Event”: any of the events set forth in Section 4043(c) of ERISA, other
than those events as to which the thirty day notice period is waived under subsections .27, .28,
..29, .30, .31, .32, .34 or .35 of PBGC Reg. § 4043.
23
“Required Lenders”: at any time the Lenders holding at least sixty six and two-thirds
percent (66-2/3%) of (a) the aggregate unpaid principal amount of the Term Loans then outstanding
plus (b) the Total Revolving Credit Commitments (or, if the Revolving Credit Commitments shall have
been terminated or for any other reason are no longer in effect, the Total Revolving Extensions of
Credit then outstanding); provided, however, “Required Lenders” shall be determined
without any consideration of any Revolving Credit Commitments or Revolving Extensions of Credit of
any Defaulting Lenders, with any such Lender being deemed not to be a “Lender” hereunder for
purposes of calculating Required Lenders and all Defaulting Lenders’ Revolving Credit Commitments
and Revolving Extensions of Credit shall be deemed to be zero ($0), whether or not funded in whole
or in part.
“Required Prepayment Lenders”: the Majority Facility Lenders in respect of each
Facility.
“Requirement of Law”: as to any Person, the Certificate of Incorporation and By-Laws
or other organizational or governing documents of such Person, and any law, treaty, rule or
regulation or determination of an arbitrator or a court or other Governmental Authority, in each
case applicable to or binding upon such Person or any of its Property or to which such Person or
any of its Property is subject.
“Responsible Officer”: with respect to any Borrower, the chief executive officer,
president, chief financial officer, chief accounting officer, any executive vice president, any
vice president or the treasurer of such Borrower, but in any event, with respect to financial
reporting and covenant compliance, the chief financial officer, the chief accounting officer or the
treasurer of such Borrower.
“Restricted Payments”: as defined in Section 7.6.
“Revolving Commitment Increase Notice”: as defined in Section 2.26(a).
“Revolving Credit Commitment”: as to any Lender, the obligation of such Lender, if
any, to make Revolving Credit Loans and participate in Letters of Credit and Swing Line Loans, in
an aggregate principal and/or face amount not to exceed the amount set forth under the heading
“Revolving Credit Commitment” opposite such Lender’s name on Schedule 1.1(C) hereto or New
Lender Supplement delivered by such Lender, or, as the case may be, in the Assignment and
Acceptance pursuant to which such Lender became a party hereto, as the same may be changed from
time to time pursuant to the terms hereof. The aggregate amount of the Total Revolving Credit
Commitments as of the First Amendment Effective Date is $200,000,000.
“Revolving Credit Commitment Period”: the period from and including the First
Amendment Effective Date to the Revolving Credit Termination Date.
“Revolving Credit Facility”: as defined in the definition of “Facility” in this
Section 1.1.
“Revolving Credit Increase Effective Date”: as defined in Section 2.26(f).
“Revolving Credit Lender”: each Lender that has a Revolving Credit Commitment or that
is the holder of Revolving Credit Loans.
“Revolving Credit Loans”: as defined in Section 2.4.
24
“Revolving Credit Note”: as defined in Section 2.6(e).
“Revolving Credit Percentage”: as to any Revolving Credit Lender at any time, the
percentage which such Lender’s Revolving Credit Commitment then constitutes of the Total Revolving
Credit Commitments (or, at any time after the Revolving Credit Commitments shall have expired or
terminated, the percentage which the aggregate amount of such Lender’s
Revolving Extensions of Credit then outstanding constitutes of the Total Revolving Extensions
of Credit then outstanding).
“Revolving Credit Termination Date”: December 23, 2015.
“Revolving Extensions of Credit”: as to any Revolving Credit Lender at any time, an
amount equal to the sum of (a) the aggregate principal amount of all Revolving Credit Loans made by
such Lender then outstanding, (b) such Lender’s Revolving Credit Percentage of the L/C Obligations
then outstanding and (c) such Lender’s Revolving Credit Percentage of the aggregate principal
amount of Swing Line Loans then outstanding.
“Revolving Offered Increase Amount”: as defined in Section 2.26(a).
“SEC”: the Securities and Exchange Commission (or successors thereto or an analogous
Governmental Authority).
“Second Restatement Effective Date” means December 10, 2009
“Secured Parties”: as defined in the Guarantee and Collateral Agreement.
“Security Documents”: the collective reference to the Guarantee and Collateral
Agreement, the Mortgages, the Control Agreements and all other security documents hereafter
delivered to the Administrative Agent granting a Lien on any Property of any Person to secure the
obligations and liabilities of any Loan Party under any Loan Document.
“Significant Event of Default” shall mean an Event of Default of the types described
in clauses (f) of Section 8, clause (c) of Section 8, solely as a result Borrower’s failure to
comply with Section 7.1 and/or clause (d) of Section 8, solely as a result Borrower’s failure to
comply with Section 6.1 and/or Section 6.2(b)(ii).
“Single Employer Plan”: any Plan that is covered by Title IV of ERISA, but which is
not a Multiemployer Plan.
“Solvent”: with respect to any Person, as of any date of determination, (a) the
amount of the “present fair saleable value” of the assets of such Person will, as of such date,
exceed the amount of all “liabilities of such Person, contingent or otherwise”, as of such date, as
such quoted terms are determined in accordance with applicable federal and state laws governing
determinations of the insolvency of debtors, (b) the present fair saleable value of the assets of
such Person will, as of such date, be greater than the amount that will be required to pay the
liability of such Person on its debts as such debts become absolute and matured, (c) such Person
will not have, as of such date, an unreasonably small amount of capital with which to conduct its
business, and (d) such Person will be able to pay its debts as they mature. For purposes of this
definition, (i) “debt” means liability on a “claim”, and (ii) “claim” means any (x) right to
payment, whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed,
contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured or (y)
right to an equitable remedy for breach of performance if such breach gives rise to a right to
payment, whether or not such right to an equitable remedy is reduced to judgment, fixed,
contingent, matured or unmatured, disputed, undisputed, secured or unsecured.
25
“Specified Hedge Agreement”: any Hedge Agreement entered into by a Borrower or any
Subsidiary Guarantor and any Qualified Counterparty.
“Subsidiary”: as to any Person, a corporation, partnership, limited liability company
or other entity of which shares of stock or other ownership interests having ordinary voting power
(other than stock or such other ownership interests having such power only by reason of the
happening of a contingency) to elect a majority of the board of directors or other managers of such
corporation, partnership or other entity are at the time owned, or the management of which is
otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such
Person. Unless otherwise qualified, all references to a “Subsidiary” or to “Subsidiaries” in this
Agreement shall refer to a Subsidiary or Subsidiaries of the Borrowers.
“Subsidiary Guarantor”: each Subsidiary of the Borrowers that is a party to the
Guarantee and Collateral Agreement.
“Surplus Growth Capital Expenditures”: as defined in Section 7.7.
“Swing Line Commitment”: the obligation of the Swing Line Lender to make Swing Line
Loans pursuant to Section 2.23 in an aggregate principal amount at any one time outstanding not to
exceed $10,000,000; provided, that (a) at the option of the Borrowers, exercisable by written
notice delivered to the Administrative Agent and the Swing Line Lender in connection with the
delivery of a Revolving Commitment Increase Notice, the Swing Line Commitment may, at the option of
the Borrowers, be increased proportionately by the percentage increase in the Total Revolving
Credit Commitment resulting from the consummation of the transaction described in such Revolving
Commitment Increase Notice and (b) upon the reduction of the Total Revolving Credit Commitments
pursuant to Section 2.8, the Swing Line Commitment shall be decreased proportionately by the
percentage decrease in the Total Revolving Credit Commitment resulting from the consummation of
such reduction.
“Swing Line Lender”: Fifth Third, acting in its capacity as the lender of Swing Line
Loans.
“Swing Line Loans”: as defined in Section 2.23(a).
“Swing Line Note”: as defined in Section 2.6(e).
“Swing Line Participation Amount”: as defined in Section 2.24(c).
“Tax Sharing Agreement”: the Tax Sharing Agreement, dated as of April 28, 2005, among
Holdings and its direct and indirect wholly-owned Subsidiaries which are corporations, as amended,
supplemented or otherwise modified from time to time in accordance with Section 7.15.
26
“Term Loan”: as defined in Section 2.1. The aggregate amount of the Term Loan
outstanding as of the First Amendment Effective Date is $0.00.
“Term Loan Commitment”: as to any Lender, the prior obligation of such Lender on the
Second Restatement Effective Date to make a Term Loan to the Borrowers hereunder in a
principal amount not to exceed the amount set forth under the heading “Term Loan Commitment”
opposite such Lender’s name on Schedule 1.1C to the Existing Credit Agreement, or, as the
case may be, in the Assignment and Acceptance pursuant to which such Lender became a party to the
Existing Credit Agreement.
“Term Loan Lender”: each Lender that is the holder of Term Loans.
“Term Loan Percentage”: as to any Term Loan Lender at any time, the percentage which
the aggregate principal amount of such Lender’s Term Loan then outstanding constitutes of the
aggregate principal amount of the Term Loans then outstanding.
“Total Consideration”: means the aggregate Net Cash Proceeds received by the Borrowers
or their Subsidiaries in connection with a Disposition of any fee owned or leased real property
interest of the Borrowers or any of their Subsidiaries.
“Total Revolving Credit Commitments”: at any time, the aggregate amount of the
Revolving Credit Commitments then in effect.
“Total Revolving Extensions of Credit”: at any time, the aggregate amount of the
Revolving Extensions of Credit of the Revolving Credit Lenders outstanding at such time.
“Transferee”: as defined in Section 10.14.
“Type”: as to any Loan, its nature as a Base Rate Loan or a Eurodollar Loan.
“Wholly Owned Subsidiary”: as to any Person, any other Person all of the Capital
Stock of which (other than directors’ qualifying shares required by law) is owned by such Person
directly and/or through other Wholly Owned Subsidiaries.
“Wholly Owned Subsidiary Guarantor”: any Subsidiary Guarantor that is a Wholly Owned
Subsidiary of a Borrower.
27
1.2 Other Definitional Provisions. (a) Unless otherwise specified therein, all terms defined in this Agreement shall have the
defined meanings when used in the other Loan Documents or any certificate or other document made or
delivered pursuant hereto or thereto.
(b) As used herein and in the other Loan Documents, and any certificate or other document made
or delivered pursuant hereto or thereto, accounting terms relating to the Borrowers and their
Subsidiaries not defined in Section 1.1 and accounting terms partly defined in Section 1.1, to the
extent not defined, shall have the respective meanings given to them under GAAP. Notwithstanding
any other provision contained herein (including, without limitation, Section 10.16), all terms of
an accounting or financial nature used herein shall be construed, and all computations of amounts
and ratios referred to in Section 7.1 shall be made, without giving effect to any election under
Accounting Standards Codification 825-10 (or any other Financial Accounting Standard having a
similar result or effect) to value any Indebtedness or other liabilities of any Borrower or any
Subsidiary of any Borrower at “fair value.” A breach of a
financial covenant contained in Section 7.1 shall be deemed to have occurred as of any date of
determination by Administrative Agent or as of the last day of any specified measurement period,
regardless of when the financial statements reflecting such breach are delivered to the
Administrative Agent. In addition, it is agreed and understood that if any change in GAAP shall
result in the requirement that existing or future obligations under operating leases from time to
time entered into by the Borrowers or their Subsidiaries (as determined in accordance with GAAP as
in effect on the First Amendment Effective Date) be treated as Indebtedness or Capital Leases, such
operating leases shall not be treated as Indebtedness or Capital Leases hereunder, including,
without limitation, for purposes of calculating covenants hereunder and shall be treated as
operating leases.
(c) The words “hereof”, “herein” and “hereunder” and words of similar import when used in this
Agreement shall refer to this Agreement as a whole and not to any particular provision of this
Agreement, and Section, Schedule and Exhibit references are to this Agreement unless otherwise
specified.
(d) The meanings given to terms defined herein shall be equally applicable to both the
singular and plural forms of such terms.
(e) All calculations of financial ratios set forth in Section 7.1 and the calculation of the
Consolidated Leverage Ratio for purposes of determining the Applicable Margin shall be calculated
to the same number of decimal places as the relevant ratios are expressed in and shall be rounded
upward if the number in the decimal place immediately following the last calculated decimal place
is five or greater. For example, if the relevant ratio is to be calculated to the hundredth
decimal place and the calculation of the ratio is 5.126, the ratio will be rounded up to 5.13.
SECTION 2. AMOUNT AND TERMS OF COMMITMENTS
2.1 Existing Term Loan Commitments. Borrowers and the Lenders acknowledge and agree that, immediately prior to the effectiveness
of this Agreement, the outstanding principal amount of the “Term Loan” under the Existing Credit
Agreement is $0.00 (the “Existing Term Loans”). The Borrowers and the Lenders expressly
acknowledge and agree that (a) the Existing Term Loans (including, without limitation, all interest
and fees due and owing in connection therewith) have been repaid in full and no Lender shall have
any commitment to fund any additional term loans pursuant to this Agreement, (b) all Term Loan
Commitments have been satisfied and have been terminated and (c) the Borrowers shall have no
additional payment obligations in respect of the principal amount of the Existing Term Loan.
Amounts previously borrowed as an Existing Term Loan which were repaid or prepaid may not be
reborrowed.
2.2 Intentionally Omitted.
28
2.3 Intentionally Omitted.
2.4 Revolving Credit Commitments. (a) Subject to the terms and conditions hereof, the Revolving Credit Lenders severally
agree to make revolving credit loans (“Revolving Credit Loans”) to the Borrowers from time
to time during the Revolving Credit Commitment Period in an aggregate principal amount at any one
time outstanding for each Revolving Credit Lender which, when added to such Lender’s Revolving
Credit Percentage of the sum of (i) the L/C Obligations then outstanding and (ii) the aggregate
principal amount of the Swing Line Loans then outstanding, does not exceed the amount of such
Lender’s Revolving Credit Commitment. During the Revolving Credit Commitment Period the Borrowers
may use the Revolving Credit Commitments by borrowing, prepaying the Revolving Credit Loans in
whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The
Revolving Credit Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined
by the Borrowers and notified to the Administrative Agent in accordance with Sections 2.5 and 2.11;
provided, that no Revolving Credit Loan shall be made as a Eurodollar Loan after the day
that is one month prior to the Revolving Credit Termination Date.
(b) Borrowers acknowledge and agree that (i) as of the First Amendment Effective Date, the
outstanding principal amount of the “Revolving Credit Loans” under the Existing Credit Agreement is
$97,017,732.24 (the “Existing Revolving Credit Loans”), all of which Existing Revolving
Credit Loans shall, on the First Amendment Effective Date, be and become outstanding Revolving
Credit Loans hereunder in like amount without constituting a novation and (ii) immediately prior to
giving effect to this Agreement, the “Total Revolving Credit Commitments” (under and as defined in
the Existing Credit Agreement) of all “Revolving Credit Lenders” (under and as defined in the
Existing Credit Agreement) is $128,000,000 and the “Revolving Credit Commitments” (under and as
defined in the Existing Credit Agreement) of each Lender under the Existing Credit Agreement,
immediately prior to the effectiveness of this Agreement are set forth on Schedule 2.4.
(c) The parties hereto desire to increase the aggregate Total Revolving Credit Commitment from
$128,000,000 to $200,000,000. Each Revolving Credit Lender, severally and not jointly, hereby
agrees that each Revolving Credit Lender’s Revolving Credit Commitment, as of the First Amendment
Effective Date, shall be as set forth on Schedules 1.1C attached hereto. To the extent necessary
to give effect to the provisions of the preceding sentence, each Person who is a Revolving Credit
Lender hereunder and a “Revolving Credit Lender” under and as defined in the Existing Credit
Agreement (each an “Existing Lender”), severally and not jointly, hereby agrees on the date
hereof to sell and to assign to (x) each Revolving Credit Lender hereunder that was not a
“Revolving Credit Lender” under the Existing Credit Agreement (each, a “New Lender”) and/or
(y) each Existing Lender whose Revolving Credit Commitment shall be increased as a result of the
amendment and restatement contemplated hereby (each, an “Increasing Existing Lender”),
without recourse, representation or warranty (except as set forth below), and each New Lender and
Increasing Existing Lender, severally and not jointly, hereby purchases and assumes from the
Existing Lenders, a percentage interest in the Total Revolving Credit Commitment in amounts
required to give effect to the pro rata shares set forth on Schedule 1.1C hereto. The Revolving
Credit Lenders, severally and not jointly, hereby agree, on the First Amendment Effective Date, to
effect such inter-Lender transfers in accordance with such Schedule 1.1C. As a result of such
assignments and acceptances, each Existing Lender is
absolutely released from any of such obligations, covenants and agreements, to the extent of
its assigned shares of the Total Revolving Credit Commitment. Upon the effectiveness of the
assignments and acceptances described in this Section 2.4(c), the Administrative Agent shall
thereafter make all payments in respect of the interest assigned hereby (including payments of
principal, interest, fees and other amounts) to the New Lenders and the Increasing Existing
Lenders, as the case may be. The New Lenders, the Existing Lenders and the Increasing Existing
Lenders shall make all appropriate adjustments in payment for periods prior to the effectiveness of
the assignment and acceptance described in this Section 2.4(c) by the Administrative Agent or with
respect to the making of this assignment directly between themselves.
29
(d) The Borrowers expressly acknowledge that the Existing Revolving Credit Loans constitute
Revolving Credit Loans hereunder from and after the First Amendment Effective Date and that such
Revolving Credit Loans are not subject to any defense, set-off or counterclaim which may at any
time be available to or be asserted by the Borrowers or any other Person against Administrative
Agent or any Lender (each of which defenses, set-off and counterclaim are hereby waived).
2.5
Procedure for Revolving Credit Borrowing. Each Borrower may borrow under the Revolving Credit Commitments on any Business Day during
the Revolving Credit Commitment Period,
provided that such Borrower shall deliver to the
Administrative Agent a Borrowing Notice (which Borrowing Notice must be received by the
Administrative Agent prior to 12:00 Noon,
New York City time, (a) three Business Days prior to the
requested Borrowing Date, in the case of Eurodollar Loans, or (b) one Business Day prior to the
requested Borrowing Date, in the case of Base Rate Loans). Each borrowing of Revolving Credit
Loans under the Revolving Credit Commitments shall be in an amount equal to (x) in the case of Base
Rate Loans, $1,000,000 or a whole multiple thereof (or, if the then aggregate Available Revolving
Credit Commitments are less than $1,000,000, such lesser amount) and (y) in the case of Eurodollar
Loans, $3,000,000 or a whole multiple of $1,000,000 in excess thereof; provided, that the Swing
Line Lender may request, on behalf of the Borrowers, borrowings of Base Rate Loans under the
Revolving Credit Commitments in other amounts pursuant to Section 2.24. Upon receipt of any such
Borrowing Notice from a Borrower, the Administrative Agent shall promptly notify each Revolving
Credit Lender thereof. Each Revolving Credit Lender will make its Revolving Credit Percentage of
the amount of each borrowing of Revolving Credit Loans available to the Administrative Agent for
the account of such Borrower at the Funding Office prior to 12:00 Noon,
New York City time, on the
Borrowing Date requested by such Borrower in funds immediately available to the Administrative
Agent. Such borrowing will then be made available to the relevant Borrower by the Administrative
Agent in like funds as received by the Administrative Agent.
2.6 Repayment of Loans; Evidence of Debt. (a) Each Borrower hereby unconditionally jointly and severally promises to pay to the
Administrative Agent for the account of the appropriate Revolving Credit Lender, (i) the then
unpaid principal amount of each Revolving Credit Loan of such Revolving Credit Lender on the
Revolving Credit Termination Date (or on such earlier date on which the Loans become due and
payable pursuant to SECTION 8), and (ii) the then unpaid principal amount of each Swing Line
Loan of such Swing Line Lender on the Revolving Credit Termination Date (or on such earlier date on
which the Loans become due and payable pursuant to Section 8). Each Borrower hereby further
jointly and severally agrees to pay interest on the unpaid principal amount of the Loans from time
to time outstanding from the date hereof until payment in full thereof at the rates per annum, and
on the dates, set forth in Section 2.13.
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(b) Each Lender shall maintain an account or accounts evidencing indebtedness of the Borrowers
to such Lender resulting from each Loan of such Lender from time to time, including the amounts of
principal and interest payable and paid to such Lender from time to time under this Agreement.
(c) The Administrative Agent, on behalf of the Borrowers, shall maintain the Register pursuant
to Section 10.6(c), and a subaccount therein for each Lender, in which shall be recorded (i) the
amount of each Loan made hereunder and any Note evidencing such Loan, the Type of such Loan and
each Interest Period applicable thereto, (ii) the amount of any principal or interest due and
payable or to become due and payable from the Borrowers to each Lender hereunder and (iii) both the
amount of any sum received by the Administrative Agent hereunder from the Borrowers and each
Lender’s share thereof.
(d) The entries made in the Register and the accounts of each Lender maintained pursuant to
Section 2.6(b) shall, to the extent permitted by applicable law, be prima facie
evidence of the existence and amounts of the obligations of the Borrowers therein recorded;
provided, however, that the failure of any Lender or the Administrative Agent to
maintain the Register or any such account, or any error therein, shall not in any manner affect the
obligation of the Borrowers to repay (with applicable interest) the Loans made to the Borrowers by
such Lender in accordance with the terms of this Agreement.
(e) The Borrowers agree that, upon the request to the Administrative Agent by any Lender, the
Borrowers will promptly execute and deliver to such Lender a promissory note of the Borrowers
evidencing any Revolving Credit Loans or Swing Line Loans, as the case may be, of such Lender,
substantially in the forms of Exhibit G-1 or G-2, respectively (a “Revolving Credit Note”,
or “Swing Line Note”, respectively), with appropriate insertions as to date and principal
amount; provided, that delivery of Notes shall not be a condition precedent to the occurrence of
the First Amendment Effective Date or the making (or deemed making) of the Loans or issuance of
Letters of Credit on the First Amendment Effective Date.
2.7 Commitment Fees, etc. (a) The Borrowers jointly and severally agree to pay to the Administrative Agent for the
account of each Revolving Credit Lender a commitment fee for the period from and including the
First Amendment Effective Date to the last day of the Revolving Credit Commitment Period applicable
to each such Revolving Credit Lender, computed at the Commitment Fee Rate on the average daily
amount of the Available Revolving Credit Commitment of such Lender during the period for which
payment is made, payable quarterly in arrears on the last day of each March, June, September and
December and on the Revolving Credit Termination Date, commencing on the first of such dates to
occur after the date hereof
(fees paid pursuant to this Section 2.7 are referred to herein as “Commitment Fees”).
The Borrowers hereby agree that accrued and unpaid “commitment fees” in an amount equal to
$54,582.85 due and owing to the Revolving Credit Lenders under the Existing Credit Agreement as of
the First Amendment Effective Date shall be paid in cash to the Administrative Agent for the
benefit of the Revolving Credit Lenders under the Existing Credit Agreement on the date hereof.
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(b) The Borrowers jointly and severally agree to pay to the Administrative Agent the fees in
the amounts and on the dates from time to time agreed to in writing by the Borrowers and the
Administrative Agent.
2.8 Termination or Reduction of Revolving Credit Commitments. The Borrowers shall have the right, upon not less than three Business Days’ notice to the
Administrative Agent, to terminate the Revolving Credit Commitments or, from time to time, to
reduce the aggregate amount of the Revolving Credit Commitments; provided that (a) no such
termination or reduction of Revolving Credit Commitments shall be permitted if, after giving effect
thereto and to any prepayments of the Revolving Credit Loans and Swing Line Loans made on the
effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving
Credit Commitments and (b) in no event shall the Borrowers be permitted to reduce the Total
Revolving Credit Commitments to an amount less than $100,000,000. Any such reduction shall be in
an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the
Revolving Credit Commitments then in effect, whereupon the Revolving Credit Commitments of each
Revolving Credit Lender shall automatically and permanently be reduced by an amount equal to such
Lender’s Ratable Share of such reduction.
2.9
Optional Prepayments. The Borrowers may at any time and from time to time prepay the Loans, in whole or in part,
without premium or penalty (except as otherwise provided herein), upon irrevocable notice delivered
to the Administrative Agent no later than 12:00 noon,
New York City time, three Business Days prior
thereto in the case of Eurodollar Loans and no later than 12:00 noon,
New York City time, one
Business Day prior thereto in the case of Base Rate Loans, which notice shall specify the date and
amount of such prepayment, whether such prepayment is of Term Loans or Revolving Credit Loans, and
whether such prepayment is of Eurodollar Loans or Base Rate Loans; provided, that (i) if a
Eurodollar Loan is prepaid on any day other than the last day of the Interest Period applicable
thereto, the Borrowers shall also pay any amounts owing pursuant to Section 2.19, and (ii) no prior
notice is required for the prepayment of Swing Line Loans. Upon receipt of any such notice the
Administrative Agent shall promptly notify each relevant Lender thereof. If any such notice is
given, the amount specified in such notice shall be due and payable on the date specified therein,
together with (except in the case of Revolving Credit Loans that are Base Rate Loans and Swing Line
Loans) accrued interest to such date on the amount prepaid. Partial prepayments of Term Loans and
Revolving Credit Loans shall be in an aggregate principal amount of $500,000 or a whole multiple
thereof. Partial prepayments of Swing Line Loans shall be in an aggregate principal amount of
$100,000 or a whole multiple thereof.
2.10 Mandatory Prepayments. (a) Unless the Required Prepayment Lenders shall otherwise agree, if any Indebtedness
shall be incurred by the Borrowers or any of their Subsidiaries (excluding any Indebtedness
incurred in accordance with Section 7.2), then on the date of such incurrence, the Term Loans and
the Revolving Credit Loans (without a corresponding reduction of the Revolving Credit Commitments)
shall be prepaid and/or the outstanding Letters of Credit shall be cash collateralized, by an
amount equal to the amount of the Net Cash Proceeds of such issuance or incurrence, as set forth in
Section 2.10(e). The provisions of this Section do not constitute a consent to the incurrence of
any Indebtedness by the Borrowers or any of their Subsidiaries.
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(b) Unless the Required Prepayment Lenders shall otherwise agree, if any Capital Stock shall
be issued by Mapco Express or any of its Subsidiaries (other than in connection with a capital
contribution by Holdings to the Capital Stock of the Borrowers or any of their respective
Subsidiaries), and such issuance results in a Change of Control and, in connection therewith,
Holdings no longer controls and manages the direction of the business and the operations of Mapco
Express, then on the date of such issuance, the Term Loans and Revolving Credit Loans (without a
corresponding reduction of the Revolving Credit Commitments) shall be prepaid, and/or the
outstanding Letters of Credit shall be cash collateralized, by an amount equal to one hundred
percent (100%) of the amount of the Net Cash Proceeds of such issuance, as set forth in Section
2.10(e). The provisions of this Section do not constitute a consent to the issuance of any Capital
Stock by any entity whose Capital Stock is pledged pursuant to the Guarantee and Collateral
Agreement.
(c) Unless the Required Prepayment Lenders shall otherwise agree, upon the consummation of a
Qualified Initial Public Offering, then on the date of the Qualified Initial Public Offering, the
Term Loans and the Revolving Credit Loans (without a corresponding reduction of the Revolving
Credit Commitments) shall be prepaid, and/or the outstanding Letters of Credit shall be cash
collateralized, by an amount equal to one hundred percent (100%) of the amount of the Net Cash
Proceeds of such Qualified Initial Public Offering, as set forth in Section 2.10(e).
(d) Intentionally Omitted.
(e) Amounts to be applied in connection with prepayments made pursuant to this Section shall
be applied, first, to the prepayment of the Term Loans, second, to the prepayment
of the Revolving Credit Loans and, third, to replace outstanding Letters of Credit and/or
deposit an amount in cash in a cash collateral account established with the Administrative Agent
for the benefit of the Secured Parties on terms and conditions satisfactory to the Administrative
Agent.
2.11 Conversion and Continuation Options. (a) The Borrowers may elect from time to time to convert Eurodollar Loans to Base Rate
Loans by giving the Administrative Agent at least two Business Days’ prior irrevocable notice of
such election, provided that any such conversion of Eurodollar Loans may be made only on
the last day of an Interest Period with respect thereto. The Borrowers may elect from
time to time to convert Base Rate Loans to Eurodollar Loans by giving the Administrative Agent
at least three Business Days’ prior irrevocable notice of such election (which notice shall specify
the length of the initial Interest Period therefor), provided that no Base Rate Loan under
a particular Facility may be converted into a Eurodollar Loan (i) when any Event of Default has
occurred and is continuing and the Administrative Agent has, or the Majority Facility Lenders in
respect of such Facility have, determined in its or their sole discretion not to permit such
conversions or (ii) after the date that is one month prior to the final scheduled termination or
maturity date of such Facility. Upon receipt of any such notice the Administrative Agent shall
promptly notify each relevant Lender thereof.
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(b) The Borrowers may elect to continue any Eurodollar Loan as such upon the expiration of the
then current Interest Period with respect thereto by giving irrevocable notice to the
Administrative Agent, in accordance with the applicable provisions of the term “Interest Period”
set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loan,
provided that no Eurodollar Loan under a particular Facility may be continued as such (i)
when any Event of Default has occurred and is continuing and the Administrative Agent has, or the
Majority Facility Lenders in respect of such Facility have, determined in its or their sole
discretion not to permit such continuations or (ii) after the date that is one month prior to the
final scheduled termination or maturity date of such Facility, and provided,
further, that if a Borrower shall fail to give any required notice as described above in
this paragraph or if such continuation is not permitted pursuant to the preceding proviso, such
Loans shall be converted automatically to Base Rate Loans on the last day of such then expiring
Interest Period. Upon receipt of any such notice the Administrative Agent shall promptly notify
each relevant Lender thereof.
2.12 Minimum Amounts and Maximum Number of Eurodollar Tranches. Notwithstanding anything to the contrary in this Agreement, all borrowings, conversions,
continuations and optional prepayments of Eurodollar Loans and all selections of Interest Periods
shall be in such amounts and be made pursuant to such elections so that, (a) after giving effect
thereto, the aggregate principal amount of the Eurodollar Loans comprising each Eurodollar Tranche
shall be equal to $3,000,000 or a whole multiple of $1,000,000 in excess thereof and (b) no more
than five Eurodollar Tranches shall be outstanding at any one time.
2.13 Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with
respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day
plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate
per annum equal to the Base Rate in effect for such day plus the Applicable Margin in
effect for such day.
(c) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation
shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), all
outstanding Loans and Reimbursement Obligations (whether or
not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is
equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant
to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement
Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility
plus 2%, (ii) if all or a portion of any interest payable on any Loan or Reimbursement
Obligation or any commitment fee or other amount payable hereunder shall not be paid when due
(whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear
interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the
relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to
a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit
Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date
of such non-payment until such amount is paid in full (after as well as before judgment) and (iii)
if any Significant Event of Default has occurred and is continuing, then at the election of the
Administrative Agent or the Required Lenders, all outstanding Loans and Reimbursement Obligations
(whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum
that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto
pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement
Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%,
from the date of such Significant Event of Default occurs until such time the applicable
Significant Event of Default has been waived in writing by the necessary Lenders, as required
pursuant to the terms of this Agreement.
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(d) Interest shall be payable in arrears on each Interest Payment Date, provided that
interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on
demand.
(e) Each Borrower hereby agrees that accrued and unpaid interest in an amount equal to
$473,782.85 due and owing to the Revolving Credit Lenders under the Existing Credit Agreement as of
the First Amendment Effective Date shall be deemed accrued and continued hereunder and shall be
paid in cash by the Borrowers to the Administrative Agent, for the benefit of such Revolving Credit
Lenders under the Existing Credit Agreement on the date hereof.
2.14 Computation of Interest and Fees. (a) Interest, fees and commissions payable pursuant hereto shall be calculated on the
basis of a 360-day year for the actual days elapsed, except that, with respect to Base Rate Loans
on which interest is calculated on the basis of the Prime Rate, the interest thereon shall be
calculated on the basis of a 365- (or 366-, as the case may be) day year for the actual days
elapsed. The Administrative Agent shall as soon as practicable notify the Borrowers and the
relevant Lenders of each determination of a Eurodollar Rate. Any change in the interest rate on a
Loan resulting from a change in the Base Rate or the Eurocurrency Reserve Requirements shall become
effective as of the opening of business on the day on which such change becomes effective. The
Administrative Agent shall as soon as practicable notify the Borrowers and the relevant Lenders of
the effective date and the amount of each such change in interest rate.
(b) Each determination of an interest rate by the Administrative Agent pursuant to any
provision of this Agreement shall be conclusive and binding on the Borrowers in the absence of
manifest error. Each determination of an interest rate by the Administrative Agent pursuant to any
provision of this Agreement shall be conclusive and binding on each Lender, unless such Lender
notifies the Administrative Agent in writing to the contrary within thirty (30) days after such
determination is made by the Administrative Agent. The Administrative Agent shall, at the request
of a Borrower, deliver to the Borrowers a statement showing the quotations used by the
Administrative Agent in determining any interest rate pursuant to Section 2.13(a).
2.15 Inability to Determine Interest Rate. If prior to the first day of any Interest Period:
(a) the Administrative Agent shall have determined (which determination shall be conclusive
and binding upon the Borrowers) that, by reason of circumstances affecting the relevant market,
adequate and reasonable means do not exist for ascertaining the Eurodollar Rate for such Interest
Period, or
35
(b) the Administrative Agent shall have received notice from the Majority Facility Lenders in
respect of the relevant Facility that the Eurodollar Rate determined or to be determined for such
Interest Period will not adequately and fairly reflect the cost to such Lenders (as conclusively
certified by such Lenders) of making or maintaining their affected Loans during such Interest
Period, the Administrative Agent shall give telecopy or telephonic notice thereof to the Borrowers
and the relevant Lenders as soon as practicable thereafter. If such notice is given (x) any
Eurodollar Loans under the relevant Facility requested to be made on the first day of such Interest
Period shall be made as Base Rate Loans, (y) any Loans under the relevant Facility that were to
have been converted on the first day of such Interest Period to Eurodollar Loans shall be continued
as Base Rate Loans and (z) any outstanding Eurodollar Loans under the relevant Facility shall be
converted, on the last day of the then current Interest Period with respect thereto, to Base Rate
Loans. Until such notice has been withdrawn by the Administrative Agent, no further Eurodollar
Loans under the relevant Facility shall be made or continued as such, nor shall any Borrower have
the right to convert Loans under the relevant Facility to Eurodollar Loans.
2.16 Pro Rata Treatment and Payments. (a) Each borrowing by the Borrowers from the Lenders hereunder, each payment by the
Borrowers on account of any commitment fee or Letter of Credit fee, and any reduction of the
Commitments of the Lenders, shall be made pro rata according to the respective Term
Loan Percentages or Revolving Credit Percentages, as the case may be, of the relevant Lenders.
Each payment of interest in respect of the Loans and each payment in respect of fees payable
hereunder shall be applied to the amounts of such obligations owing to the Lenders pro
rata according to the respective amounts then due and owing to the Lenders.
(b) Each mandatory prepayment required by Section 2.10 to be applied to Term Loans shall be
allocated among the Term Loan Facilities pro rata according to the
respective outstanding principal amounts of Term Loans under such Facilities. Each optional
prepayment in respect of the Term Loans shall be allocated among the Term Loan Facilities
pro rata according to the respective outstanding principal amounts of Term Loans
under such Facilities. Each payment (including each prepayment) on account of principal of the
Term Loans outstanding under any Term Loan Facility shall be allocated among the Term Loan Lenders
holding such Term Loans pro rata based on the principal amount of such Term Loans
held by such Term Loan Lenders, and shall be applied to the installments of such Term Loans
pro rata based on the remaining outstanding principal amount of such installments.
Amounts prepaid on account of the Term Loans may not be reborrowed.
(c) Except as set forth in Section 2.22, each payment (including each prepayment) by a
Borrower on account of principal of the Revolving Credit Loans shall be made pro
rata according to the respective outstanding principal amounts of the Revolving Credit
Loans then held by the Revolving Credit Lenders. Each payment in respect of Reimbursement
Obligations in respect of any Letter of Credit shall be made to the Issuing Lender that issued such
Letter of Credit.
36
(d) The application of any payment of Loans under any Facility (including optional and
mandatory prepayments) shall be made, first, to Base Rate Loans under such Facility and,
second, to Eurodollar Loans under such Facility. Each payment of the Loans (except in the
case of Swing Line Loans and Revolving Credit Loans that are Base Rate Loans) shall be accompanied
by accrued interest to the date of such payment on the amount paid.
(e) All payments (including prepayments) to be made by the Borrowers hereunder, whether on
account of principal, interest, fees or otherwise, shall be made without setoff or counterclaim and
shall be made prior to 12:00 Noon,
New York City time, on the due date thereof to the
Administrative Agent, for the account of the relevant Lenders, at the Payment Office, in Dollars
and in immediately available funds. Any payment made by the Borrowers after 12:00 Noon, New York
City time, on any Business Day shall be deemed to have been on the next following Business Day. If
any payment hereunder (other than payments on the Eurodollar Loans) becomes due and payable on a
day other than a Business Day, such payment shall be extended to the next succeeding Business Day.
If any payment on a Eurodollar Loan becomes due and payable on a day other than a Business Day, the
maturity thereof shall be extended to the next succeeding Business Day unless the result of such
extension would be to extend such payment into another calendar month, in which event such payment
shall be made on the immediately preceding Business Day. In the case of any extension of any
payment of principal pursuant to the preceding two sentences, interest thereon shall be payable at
the then applicable rate during such extension.
(f) Unless the Administrative Agent shall have been notified in writing by any Lender prior to
a borrowing that such Lender will not make the amount that would constitute its share of such
borrowing available to the Administrative Agent, the Administrative Agent may assume that such
Lender is making such amount available to the Administrative Agent, and the Administrative Agent
may, in reliance upon such assumption, make available to the relevant Borrower a corresponding
amount. If such amount is not made available to the Administrative Agent by the required time on
the Borrowing Date therefor, such Lender shall pay to the Administrative Agent, on demand, such
amount with interest thereon at a rate equal to the
greater of (i) the Federal Funds Effective Rate and (ii) a rate determined by the
Administrative Agent in accordance with banking industry rules on interbank compensation, for the
period until such Lender makes such amount immediately available to the Administrative Agent. A
certificate of the Administrative Agent submitted to any Lender with respect to any amounts owing
under this paragraph shall be conclusive in the absence of manifest error. If such Lender’s share
of such borrowing made available by the Administrative Agent to the relevant Borrower is not made
available to the Administrative Agent by such Lender within three Business Days after such
Borrowing Date, the Administrative Agent shall also be entitled to recover such amount with
interest thereon at the rate per annum applicable to Base Rate Loans under the relevant Facility,
on demand, from the Borrowers.
(g) Unless the Administrative Agent shall have been notified in writing by the Borrowers prior
to the date of any payment due to be made by the Borrowers hereunder that the Borrowers will not
make such payment to the Administrative Agent, the Administrative Agent may assume that the
Borrowers are making such payment, and the Administrative Agent may, but shall not be required to,
in reliance upon such assumption, make available to the Lenders their respective pro
rata shares of a corresponding amount. If such payment is not made to the Administrative
Agent by the Borrowers within three Business Days after such due date, the Administrative Agent
shall be entitled to recover, on demand, from each Lender to which any amount which was made
available pursuant to the preceding sentence, such amount with interest thereon at the rate per
annum equal to the daily average Federal Funds Effective Rate. Nothing herein shall be deemed to
limit the rights of the Administrative Agent or any Lender against the Borrowers.
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(h) Upon receipt by the Administrative Agent of payments on behalf of Lenders, the
Administrative Agent shall promptly distribute such payments to the Lender or Lenders entitled
thereto, in like funds as received by the Administrative Agent.
2.17 Requirements of Law. (a) If the adoption of or any change in any Requirement of Law or in the interpretation or
application thereof or compliance by any Lender with any request or directive (whether or not
having the force of law) from any central bank or other Governmental Authority made subsequent to
the date hereof:
(i) shall impose, modify or hold applicable any reserve, special deposit,
compulsory loan or similar requirement against assets held by, deposits or other
liabilities in or for the account of, advances, loans or other extensions of credit
by, or any other acquisition of funds by, any office of such Lender that is not
otherwise included in the determination of the Eurodollar Rate hereunder; or
(ii) shall impose on such Lender any other condition;
and the result of any of the foregoing is to increase the cost to such Lender, by an amount which
such Lender deems to be material, of making, converting into, continuing or maintaining Eurodollar
Loans or issuing or participating in Letters of Credit, or to reduce any amount receivable
hereunder in respect thereof, then, in any such case, the Borrowers shall promptly pay
such Lender, upon its demand, any additional amounts necessary to compensate such Lender for such
increased cost or reduced amount receivable. If any Lender becomes entitled to claim any
additional amounts pursuant to this Section, it shall promptly notify the Borrowers (with a copy to
the Administrative Agent) of the event by reason of which it has become so entitled.
(b) If any Lender shall have determined that the adoption of or any change in any Requirement
of Law regarding capital adequacy or in the interpretation or application thereof or compliance by
such Lender or any corporation controlling such Lender with any request or directive regarding
capital adequacy (whether or not having the force of law) from any Governmental Authority made
subsequent to the date hereof shall have the effect of reducing the rate of return on such Lender’s
or such corporation’s capital as a consequence of its obligations hereunder or under or in respect
of any Letter of Credit to a level below that which such Lender or such corporation could have
achieved but for such adoption, change or compliance (taking into consideration such Lender’s or
such corporation’s policies with respect to capital adequacy) by an amount deemed by such Lender to
be material, then from time to time, after submission by such Lender to the Borrowers (with a copy
to the Administrative Agent) of a written request therefor, the Borrowers shall pay to such Lender
such additional amount or amounts as will compensate such Lender or such corporation for such
reduction.
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(c) A certificate as to any additional amounts payable pursuant to this Section submitted by
any Lender to the Borrowers (with a copy to the Administrative Agent) shall be conclusive in the
absence of manifest error. The obligations of the Borrowers pursuant to this Section shall survive
the termination of this Agreement and the payment of the Loans and all other amounts payable
hereunder.
2.18 Taxes. (a) All payments made by the Borrowers under this Agreement shall be made free and clear
of, and without deduction or withholding for or on account of, any present or future income, stamp
or other taxes, levies, imposts, duties, charges, fees, deductions or withholdings, now or
hereafter imposed, levied, collected, withheld or assessed by any Governmental Authority, excluding
net income taxes, franchise taxes (imposed in lieu of net income taxes) and branch profits taxes
imposed on any Agent or any Lender as a result of a present or former connection between such Agent
or such Lender and the jurisdiction of the Governmental Authority imposing such tax or any
political subdivision or taxing authority thereof or therein (other than any such connection
arising solely from such Agent’s or such Lender’s having executed, delivered or performed its
obligations or received a payment under, or enforced, this Agreement or any other Loan Document).
If any such non-excluded taxes, levies, imposts, duties, charges, fees, deductions or withholdings
(“Non-Excluded Taxes”) or any Other Taxes are required to be withheld from any amounts
payable to any Agent or any Lender hereunder, the amounts so payable to such Agent or such Lender
shall be increased to the extent necessary to yield to such Agent or such Lender (after payment of
all Non-Excluded Taxes and Other Taxes) interest or any such other amounts payable hereunder at the
rates or in the amounts specified in this Agreement; provided, however, that the
Borrowers shall not be required to increase any such amounts payable to any Lender with respect to
any Non-Excluded Taxes (i) that are attributable to such Lender’s failure to comply with the
requirements of paragraph (d), (e) or (f) of this Section, (ii) that are attributable to the
certifications made in the forms delivered by such Lender
pursuant to (d), (e) or (f) of this Section being untrue or inaccurate on the date delivered
in any material respect or (iii) that are United States withholding taxes imposed on amounts
payable to such Lender at the time such Lender becomes a party to this Agreement, except to the
extent that such Lender’s assignor (if any) was entitled, at the time of assignment, to receive
additional amounts from the Borrowers with respect to such Non-Excluded Taxes pursuant to this
paragraph (a).
(b) In addition, the Borrowers shall pay any Other Taxes to the relevant Governmental
Authority in accordance with applicable law.
(c) Whenever any Non-Excluded Taxes or Other Taxes are payable by a Borrower, as promptly as
possible thereafter such Borrower shall send to the Administrative Agent for the account of the
Administrative Agent or Lender, as the case may be, a certified copy of an original official
receipt received by such Borrower showing payment thereof. If a Borrower fails to pay any
Non-Excluded Taxes or Other Taxes when due to the appropriate taxing authority or fails to remit to
the Administrative Agent the required receipts or other required documentary evidence, the
Borrowers shall indemnify the Agents and the Lenders for any incremental taxes, interest or
penalties that may become payable by any Agent or any Lender as a result of any such failure.
Notwithstanding anything to the contrary in this Section 2.18(c), the Borrowers shall not be
obligated to indemnify any Agent or any Lender for any portion of such incremental taxes, interest
or penalties accruing on such Non-Excluded Taxes or Other Taxes to the extent such liability is
attributable to a failure or delay by the Agent or such Lender, as applicable, in making demand for
such Non-Excluded Taxes or Other Taxes. The agreements in this Section shall survive the
termination of this Agreement and the payment of the Loans and all other amounts payable hereunder.
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(d) Each Lender (or Transferee) that is not a “U.S. Person” as defined in Section 7701(a)(30)
of the Code (a “Non-U.S. Lender”) shall deliver to the Borrowers and the Administrative
Agent (or, in the case of a Participant, to the Lender from which the related participation shall
have been purchased) two copies of either U.S. Internal Revenue Service Form W-8BEN claiming
eligibility of such Non-U.S. Lender for benefits of an income tax treaty to which the United States
is a party or Form W-8ECI, or, in the case of a Non-U.S. Lender claiming exemption from U.S.
federal withholding tax under Section 871(h) or 881(c) of the Code with respect to payments of
“portfolio interest” a statement substantially in the form of Exhibit H and a Form W-8BEN, or any
subsequent versions thereof or successors thereto properly completed and duly executed by such
Non-U.S. Lender claiming complete exemption from, or a reduced rate of, U.S. federal withholding
tax on all payments by the Borrowers under this Agreement and the other Loan Documents. Such forms
shall be delivered by each Non-U.S. Lender on or before the date it becomes a party to this
Agreement (or, in the case of any Participant, on or before the date such Participant purchases the
related participation). In addition, each Non-U.S. Lender shall deliver such forms promptly upon
the obsolescence or invalidity of any form previously delivered by such Non-U.S. Lender. Each
Non-U.S. Lender shall promptly notify the Borrowers at any time it determines that it is no longer
in a position to provide any previously delivered certificate to the Borrowers (or any other form
of certification adopted by the U.S. taxing authorities for such purpose). Notwithstanding any
other provision of this Section 2.18(d), a Non-U.S. Lender shall not be required to deliver any
form pursuant to this paragraph that such Non-U.S. Lender is not legally able to deliver.
(e) Upon a Borrower’s reasonable request, each Lender that is a “United States person” as
defined in Section 7701(a)(30) of the Code shall deliver to the Borrowers and the Agent two copies
of U.S. Internal Revenue Service Form W-9 (or applicable successor form).
(f) A Lender (or Transferee) that is entitled to an exemption from or reduction of non-U.S.
withholding tax under the law of the jurisdiction in which a Borrower is located, or any treaty to
which such jurisdiction is a party, with respect to payments under this Agreement shall deliver to
the Borrowers (with a copy to the Administrative Agent), at the time or times prescribed by
applicable law or reasonably requested by the Borrowers, such properly completed and executed
documentation prescribed by applicable law as will permit such payments to be made without
withholding or at a reduced rate, provided that such Lender (or Transferee) is legally
entitled to complete, execute and deliver such documentation and in such Lender’s (or Transferee’s)
reasonable judgment such completion, execution or submission would not materially prejudice the
legal position of such Lender (or Transferee).
(g) If the Agent or a Lender determines, in its discretion, that it has received a refund of
any Non-Excluded Taxes or Other Taxes as to which it has been indemnified by the Borrowers or with
respect to which the Borrowers have paid additional amounts pursuant to this Section 2.18, it shall
pay over such refund to the Borrowers (but only to the extent of indemnity payments made, or
additional amounts paid, by the Borrowers under this Section 2.18 with respect to the Non-Excluded
Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the Agent or
such Lender and without interest (other than any interest paid by the relevant Governmental
Authority with respect to such refund); provided, that the Borrowers, upon the request of
the Agent or such Lender, agree to repay the amount paid over to the Borrowers (plus any
penalties, interest or other charges imposed by the relevant Governmental Authority) by the Agent
or such Lender in the event the Agent or such Lender is required to repay such refund to such
Governmental Authority. This Section shall not be construed to require the Agent or any Lender to
make available its tax returns (or any other information relating to its taxes which it deems
confidential) to the Borrowers or any other Person.
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2.19 Indemnity. Each Borrower agrees to indemnify each Lender for, and to hold each Lender harmless from,
any loss or expense that such Lender may sustain or incur as a consequence of (a) default by a
Borrower in making a borrowing of, conversion into or continuation of Eurodollar Loans after such
Borrower has given a notice requesting the same in accordance with the provisions of this
Agreement, (b) default by a Borrower in making any prepayment after such Borrower has given a
notice thereof in accordance with the provisions of this Agreement or (c) the making of a
prepayment or conversion of Eurodollar Loans on a day that is not the last day of an Interest
Period with respect thereto. Such indemnification may include an amount equal to the excess, if
any, of (i) the amount of interest that would have accrued on the amount so prepaid, or not so
borrowed, converted or continued, for the period from the date of such prepayment or of such
failure to borrow, convert or continue to the last day of such Interest Period (or, in the case of
a failure to borrow, convert or continue, the Interest Period that would have commenced on the date
of such failure) in each case at the applicable rate of interest for such Loans provided for herein
over (ii) the amount of interest (as reasonably determined by such Lender) that would
have accrued to such Lender on such amount by placing such amount on deposit for a comparable
period with leading banks in the interbank Eurodollar market. A certificate as to any amounts
payable pursuant to this Section submitted to the Borrowers by any Lender shall be conclusive in
the absence of manifest error. This covenant shall survive the termination of this Agreement and
the payment of the Loans and all other amounts payable hereunder.
2.20 Illegality. Notwithstanding any other provision herein, if the adoption of or any change in any
Requirement of Law or in the interpretation or application thereof shall make it unlawful for any
Lender to make or maintain Eurodollar Loans as contemplated by this Agreement, (a) the commitment
of such Lender hereunder to make Eurodollar Loans, continue Eurodollar Loans as such and convert
Base Rate Loans to Eurodollar Loans shall forthwith be canceled and (b) such Lender’s Loans then
outstanding as Eurodollar Loans, if any, shall be converted automatically to Base Rate Loans on the
respective last days of the then current Interest Periods with respect to such Loans or within such
earlier period as required by law. If any such conversion of a Eurodollar Loan occurs on a day
which is not the last day of the then current Interest Period with respect thereto, the Borrowers
shall pay to such Lender such amounts, if any, as may be required pursuant to Section 2.19.
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2.21 Change of Lending Office. Each Lender agrees that, upon the occurrence of any event giving rise to the operation of
Section 2.17, 2.18(b) or 2.20 with respect to such Lender, it will, if requested by the Borrowers,
use reasonable efforts (subject to overall policy considerations of such Lender) to designate
another lending office for any Loans affected by such event with the object of avoiding the
consequences of such event; provided, that such designation is made on terms that, in the
sole judgment of such Lender, cause such Lender and its lending office(s) to suffer no economic,
legal or regulatory disadvantage, and provided, further, that nothing in this
Section shall affect or postpone any of the obligations of any Borrower or the rights of any Lender
pursuant to Section 2.17, 2.18(b) or 2.20.
2.22 Replacement of Lenders under Certain Circumstances; Defaulting Lenders.
(a) Replacement of Lenders. The Borrowers shall be permitted to replace any Lender
that (i) requests reimbursement for amounts owing pursuant to Section 2.17 or 2.18 or gives a
notice of illegality pursuant to Section 2.20 or (ii) is a Defaulting Lender; provided that (A)
such replacement does not conflict with any Requirement of Law, (B) no Event of Default shall have
occurred and be continuing at the time of such replacement, (C) prior to any such replacement
pursuant to clause (i) of this Section 2.22(a), such Lender shall have taken no action under
Section 2.21 to effectively eliminate the continued need for payment of amounts owing pursuant to
Section 2.17 or 2.18 or to effectively eliminate the illegality referred to in such notice of
illegality given pursuant to Section 2.20, (D) the replacement financial institution (the
“Replacement Lender”) shall purchase, at par, all Loans and Commitments and other amounts owing to
such replaced Lender on or prior to the date of replacement, (E) the Borrowers shall be
liable to such replaced Lender under Section 2.19 (as though Section 2.19 were applicable) if
any Eurodollar Loan owing to such replaced Lender shall be purchased other than on the last day of
the Interest Period relating thereto, (F) the Replacement Lender, if not already a Lender, shall be
reasonably satisfactory to the Administrative Agent, (G) the replaced Lender shall be obligated to
make such replacement in accordance with the provisions of Section 10.6 (provided that the
Borrowers shall be obligated to pay the registration and processing fee referred to therein), (H)
the Borrowers shall pay all additional amounts (if any) required pursuant to Section 2.17 or 2.18,
as the case may be, in respect of any period prior to the date on which such replacement shall be
consummated, and (I) any such replacement shall not be deemed to be a waiver of any rights that the
Borrowers, the Administrative Agent or any other Lender shall have against the replaced Lender. In
connection with the arrangement of such a Replacement Lender, the Lender being replaced shall have
no right to refuse to be replaced hereunder, and agrees to execute and deliver a completed form of
Assignment and Acceptance in favor of the Replacement Lender (and agrees that it shall be deemed to
have executed and delivered such document if it fails to do so within three (3) Business Days
following request therefor) subject only to being repaid its share of the outstanding Obligations;
provided, however, that any such assumption of the Commitment of a Defaulting Lender shall not be
deemed to constitute a waiver of any of the Agent’s, the Lenders’ or Borrowers’ rights or remedies
against any such Defaulting Lender arising out of or in relation to the conditions causing it to be
classified as a Defaulting Lender. In addition to the foregoing, with respect to any Defaulting
Lender who has failed to deliver the Assignment and Acceptance referred to above in connection with
a proposed assignment to a Replacement Lender, the Administrative Agent may, but shall not be
obligated to, execute an Assignment and Acceptance on behalf of such Defaulting Lender at any time
with three (3) Business Days’ prior notice to such Defaulting Lender and cause such Defaulted
Lender’s Loans and Commitments to be sold and assigned to such Replacement Lender, in whole or in
part, at par.
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(b) Payments to Defaulting Lenders. (i) The Administrative Agent shall not be
obligated to transfer to a Defaulting Lender any payments made by a Borrower or any of its
Subsidiaries to the Administrative Agent for the Defaulting Lender’s benefit or proceeds of
Collateral that would otherwise be remitted hereunder to the Defaulting Lender, nor shall a
Defaulting Lender be entitled to the sharing of any payments hereunder (including any fees or
lender expense reimbursements) and, in the absence of such transfer to the Defaulting Lender, the
Administrative Agent shall transfer any such payments (A) first, to Swing Line Lender to the extent
of any Swing Line Loans that were made by Swing Line Lender and that were required to be, but were
not, funded or otherwise reimbursed by the Defaulting Lender, (B) second, to the Issuing Lender, to
the extent of the portion of a Letter of Credit disbursement that was required to be, but was not,
repaid by the Defaulting Lender, (C) third, to a non-interest bearing suspense account maintained
by Agent, the proceeds of which shall be retained by the Administrative Agent and may be made
available by the Administrative Agent to repay amounts owing to the Swing Line Lender in connection
with future Swing Line Loans that are subsequently borrowed by the Borrowers and not funded or
otherwise reimbursed by the Defaulting Lender in accordance with the terms hereof and to the
Issuing Lender to repay amounts owing to the Issuing Lender in connection with subsequent Letter of
Credit disbursements and not funded or otherwise reimbursed by the Defaulting Lender in accordance
with the terms hereof, (D) fourth, to a non-interest bearing suspense account maintained by the
Administrative Agent, the proceeds of which shall be retained by the Administrative Agent and may
(in the Administrative Agent’s discretion) be made available to be re-advanced as a Revolving
Credit Loan (or other funding
obligations) to or for the benefit of the Borrowers as if such Defaulting Lender had funded
its portion of requested Revolving Credit Loan (or other funding obligations) hereunder, and (E)
fifth, from and after the date on which all other Obligations have been paid in full in cash and
all Commitments have terminated, to such Defaulting Lender. Subject to the foregoing, the
Administrative Agent may hold and, in its reasonable discretion, re-lend to Borrowers for the
account of such Defaulting Lender the amount of all such payments received and retained by the
Administrative Agent for the account of such Defaulting Lender.
(c) Voting of Defaulting Lenders. Notwithstanding anything set forth herein to the
contrary, including Section 10.1, a Defaulting Lender shall not have any voting or consent rights
under or with respect to any Loan Document or constitute a “Lender” or a “Revolving Credit Lender”
(or be, or have its Loans and Commitments, included in the determination of “Required Lenders”,
“Required Prepayment Lenders”, “Majority Facility Lenders”, “Majority Revolving Credit Facility
Lenders” or “Lenders directly affected” pursuant to Section 10.1) for any voting or consent rights
under or with respect to any Loan Document, provided that (i) the Commitment of a Defaulting
Lender may not be increased, extended or reinstated, (ii) the principal of a Defaulting Lender’s
Loans may not be reduced or forgiven, and (iii) the interest rate applicable to Obligations owing
to a Defaulting Lender may not be reduced, in each case, without the consent of such Defaulting
Lender. Moreover, for the purposes of determining “Required Lenders”, “Required Prepayment
Lenders”, “Majority Facility Lenders”, “Majority Revolving Credit Facility Lenders, the Loans, L/C
Obligations, and Commitments held by Defaulting Lenders shall be excluded from the total Loans and
Commitments outstanding. The provisions of this Section 2.22(c) shall remain effective with
respect to such Defaulting Lender from the time such Lender qualified as a Defaulting Lender until
the earlier of (i) the date on which the non-Defaulting Lenders, the Administrative Agent, and
Borrowers shall have waived, in writing, the application of this Section 2.22(c) to such Defaulting
Lender, or (ii) the date on which such Defaulting Lender makes payment of all amounts that it was
obligated to fund hereunder, pays to the Administrative Agent all amounts owing by Defaulting
Lender in respect of the amounts that it was obligated to fund hereunder, and, if requested by the
Administrative Agent, provides adequate assurance of its ability to perform its future obligations
hereunder (the “Defaulting Lender Period”). Notwithstanding anything to the contrary herein, no
Defaulting Lender shall have any claim or cause of action, or right to indemnification, from and
against the Borrowers, the Administrative Agent or any other Lender for any matters set forth in
this Section 2.22 or in Section 10.5(a), (b), (d)(i) and (d)(iv) arising during a Defaulting Lender
Period.
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(d) Intentionally Omitted.
(e) Fees. A Lender that is a Defaulting Lender pursuant to clause (a) of the
definition of Defaulting Lender shall not earn and shall not be entitled to receive, and Borrowers
shall not be required to pay, such Lender’s portion of the Commitment Fee or any amendment or
similar fees charged in connection with any amendment, restatement, supplement, waiver or other
modification of this Agreement during the time such Lender is a Defaulting Lender pursuant to
clause (a) thereof. In the event that any reallocation of L/C Obligations occurs pursuant to
Section 2.22, during the period of time that such reallocation remains in effect, the Letter of
Credit Fee payable with respect to such reallocated portion shall be payable to (i) all Revolving
Credit Lenders based on their pro rata share of such reallocation or (ii) to the L/C Issuer for any
remaining portion not reallocated to any other Revolving Credit Lenders.
(f) Responsibility. The failure of any Defaulting Lender to make any Revolving Credit
Loan, to fund any purchase of any participation to be made or funded by it, or to make any payment
required by it hereunder on the date specified therefor shall not relieve any other Lender of its
obligations to make such loan, fund the purchase of any such participation, or make any other
payment required hereunder on such date, and neither the Administrative Agent nor, other than as
expressly set forth herein, any other Lender shall be responsible for the failure of any Defaulting
Lender to make a loan, fund the purchase of a participation or make any other payment required
hereunder.
(g) Conflicts. In the event of a direct conflict between the priority provisions of
this Section 2.22 and any other provision contained in this Agreement or any other Loan
Document, it is the intention of the parties hereto that such provisions be read together and
construed, to the fullest extent possible, to be in concert with each other. In the event of any
actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of
this Section 2.22 shall control and govern.
2.23 Swing Line Commitment. (a) Borrowers acknowledge and agree that (i) as of the First Amendment Effective Date,
there are no “Swing Line Loans” outstanding under the Existing Credit Agreement. Subject to the
terms and conditions hereof, the Swing Line Lender agrees that, during the Revolving Credit
Commitment Period, it will make available to the Borrowers in the form of swing line loans
(“Swing Line Loans”) a portion of the credit otherwise available to the Borrowers under the
Revolving Credit Commitments; provided that (i) the aggregate principal amount of Swing
Line Loans outstanding at any time shall not exceed the Swing Line Commitment then in effect
(notwithstanding that the Swing Line Loans outstanding at any time, when aggregated with the Swing
Line Lender’s other outstanding Revolving Credit Loans hereunder, may exceed the Swing Line
Commitment then in effect or such Swing Line Lender’s Revolving Credit Commitment then in effect)
and (ii) the Borrowers shall not request, and the Swing Line Lender shall not make, any Swing Line
Loan if, after giving effect to the making of such Swing Line Loan, the aggregate amount of the
Available Revolving Credit Commitments would be less than zero. During the Revolving Credit
Commitment Period, the Borrowers may use the Swing Line Commitment by borrowing, repaying and
reborrowing, all in accordance with the terms and conditions hereof. Swing Line Loans shall be
Base Rate Loans only.
(b) The Borrowers shall repay each outstanding Swing Line Loan on the date that is the earlier
of (x) the Revolving Credit Termination Date and (y) the date that is the fifth (5th)
Business Day after the date on which such Swing Line Loan is made.
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2.24 Procedure for Swing Line Borrowing; Refunding of Swing Line Loans. (a) The Borrowers may borrow under the Swing Line Commitment on any Business Day during
the Revolving Credit Commitment Period, provided, the Borrowers shall give the Swing Line Lender
irrevocable telephonic notice confirmed promptly in writing by facsimile (which written facsimile
notice must be received by the Swing Line Lender not later than 1:00 P.M., New York City time, on
the proposed Borrowing Date), specifying (i) the amount to be borrowed and (ii) the requested
Borrowing Date. Each borrowing under the Swing Line
Commitment shall be in an amount equal to $500,000 or a whole multiple of $100,000 in excess
thereof. Not later than 3:00 P.M., New York City time, on the Borrowing Date specified in the
borrowing notice in respect of any Swing Line Loan, the Swing Line Lender shall make available to
the Administrative Agent at the Funding Office an amount in immediately available funds equal to
the amount of such Swing Line Loan. The Administrative Agent shall make the proceeds of such Swing
Line Loan available to the Borrowers not later than 3:00 P.M., New York City time, on such
Borrowing Date in like funds as received by the Administrative Agent.
(b) The Swing Line Lender, at any time and from time to time in its sole and absolute
discretion may, on behalf of the Borrowers (which hereby irrevocably directs the Swing Line Lender
to act on its behalf), on one Business Day’s notice given by the Swing Line Lender no later than
12:00 Noon, New York City time, request each Revolving Credit Lender to make, and each Revolving
Credit Lender hereby agrees to make, a Revolving Credit Loan (which shall initially be a Base Rate
Loan), in an amount equal to such Revolving Credit Lender’s Revolving Credit Percentage of the
aggregate amount of the Swing Line Loans (the “Refunded Swing Line Loans”) outstanding on
the date of such notice, to repay the Swing Line Lender. Each Revolving Credit Lender shall make
the amount of such Revolving Credit Loan available to the Administrative Agent at the Funding
Office in immediately available funds, not later than 10:00 A.M., New York City time, one Business
Day after the date of such notice. The proceeds of such Revolving Credit Loans shall be made
immediately available by the Administrative Agent to the Swing Line Lender for application by the
Swing Line Lender to the repayment of the Refunded Swing Line Loans.
(c) If prior to the time a Revolving Credit Loan would have otherwise been made pursuant to
Section 2.24(b), one of the events described in Section 8(f) shall have occurred and be continuing
with respect to the Borrowers, or if for any other reason, as determined by the Swing Line Lender
in its sole discretion, Revolving Credit Loans may not be made as contemplated by Section 2.24(b),
each Revolving Credit Lender shall, on the date such Revolving Credit Loan was to have been made
pursuant to the notice referred to in Section 2.24(b) (the “Refunding Date”), purchase for
cash an undivided participating interest in the then outstanding Swing Line Loans by paying to the
Swing Line Lender an amount (the “Swing Line Participation Amount”) equal to (i) such
Revolving Credit Lender’s Revolving Credit Percentage times (ii) the sum of the aggregate
principal amount of Swing Line Loans then outstanding which were to have been repaid with such
Revolving Credit Loans.
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(d) Whenever, at any time after the Swing Line Lender has received from any Revolving Credit
Lender such Lender’s Swing Line Participation Amount, the Swing Line Lender receives any payment on
account of the Swing Line Loans, the Swing Line Lender will distribute to such Lender its Swing
Line Participation Amount (appropriately adjusted, in the case of interest payments, to reflect the
period of time during which such Lender’s participating interest was outstanding and funded and, in
the case of principal and interest payments, to reflect such Lender’s pro rata portion of such
payment if such payment is not sufficient to pay the principal of and interest on all Swing Line
Loans then due); provided, however, that in the event that such payment received by the Swing Line
Lender is required to be returned, such Revolving Credit Lender will return to the Swing Line
Lender any portion thereof previously distributed to it by the Swing Line Lender.
(e) Each Revolving Credit Lender’s obligation to make the Loans referred to in Section 2.24(b)
and to purchase participating interests pursuant to Section 2.24(c) shall be absolute and
unconditional and shall not be affected by any circumstance, including, without limitation, (i) any
setoff, counterclaim, recoupment, defense or other right which such Revolving Credit Lender or the
Borrowers may have against the Swing Line Lender, the Borrowers or any other Person for any reason
whatsoever; (ii) the occurrence or continuance of a Default or an Event of Default or the failure
to satisfy any of the other conditions specified in Section 5; (iii) any adverse change in the
condition (financial or otherwise) of the Borrowers; (iv) any breach of this Agreement or any other
Loan Document by the Borrowers, any other Loan Party or any other Revolving Credit Lender; or (v)
any other circumstance, happening or event whatsoever, whether or not similar to any of the
foregoing.
2.25 Intentionally Omitted.
2.26 Increases in Revolving Credit Commitments. (a) At any time and from time to time after the First Amendment Effective Date and prior to
the Revolving Credit Termination Date, so long as no Default or Event of Default has occurred and
is continuing, the Borrowers may, by written notice to the Administrative Agent (a “Revolving
Commitment Increase Notice”), which notice shall promptly be copied to each Lender, request an
increase in the Total Revolving Credit Commitments in an aggregate principal amount up to
$75,000,000 (the “Revolving Offered Increase Amount”); provided, that in no event
shall the Total Revolving Credit Commitments be increased to an amount in excess of $275,000,000,
and provided, further, that each such Revolving Offered Increase Amount shall be in
minimum amounts of not less than $25,000,000 and multiples of $5,000,000 in excess thereof (or such
lesser amount constituting the entire remaining Revolving Offered Increase Amount). The Borrowers
shall first offer all Revolving Credit Lenders the opportunity to provide all or a portion of any
Revolving Offered Increase Amount pursuant to subparagraph (c) below, but
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each such Lender shall
have no obligation whatsoever to provide all or any portion of the Revolving Offered Increase
Amount. Each of the then existing Revolving Credit Lenders shall have ten (10) Business Days
following receipt of a Revolving Commitment Increase Notice from the Borrowers to notify the
Borrowers of such Lender’s commitment to provide a portion of the Revolving Offered Increase
Amount. In the event that the Borrowers have not received commitments from the existing Revolving
Credit Lenders in an amount equal to the requested Revolving Offered Increase Amount within such
ten (10) Business Day period, then the Borrowers may, with the consent of the Swing Line Lender,
each Issuing Lender and the Administrative Agent (which consent shall not be unreasonably
withheld), invite other banks, financial institutions or other entities the opportunity to provide
all or a portion of such Revolving Offered Increase Amount pursuant to subparagraph (b) below with
respect to the portion of such Revolving Offered Increase Amount for which commitments from
existing Revolving Credit Lenders shall have not been obtained within such ten (10) Business Day
period by existing Revolving Credit Lenders. The Borrowers or, if requested by the Borrowers, the
Administrative Agent will notify each Revolving Credit Lender, and/or bank, financial institution
or other entity of the amount of the Revolving Offered Increase Amount that shall be
allocated to such Revolving Credit Lender or such other bank, financial institution or other
entity in accordance with the forgoing.
(b) Any additional bank, financial institution or other entity that the Borrowers select to
offer participation in any increased Total Revolving Credit Commitments and that elects to become a
party to this Agreement and provide a Revolving Credit Commitment in an amount so offered and
accepted by it pursuant to Section 2.26(a) shall execute a New Lender Supplement with the
Borrowers, the Swing Line Lender, each Issuing Lender and the Administrative Agent, substantially
in the form of Exhibit J (a “New Lender Supplement”), whereupon such bank, financial
institution or other entity (herein called a “New Revolving Credit Lender”) shall become a
Revolving Credit Lender for all purposes and to the same extent as if originally a party hereto and
shall be bound by and entitled to the benefits of this Agreement, provided that the
Revolving Credit Commitment of any such New Revolving Credit Lender shall be in an amount not less
than $5,000,000.
(c) Any Revolving Credit Lender that accepts an offer to it by the Borrowers to increase its
Revolving Credit Commitment pursuant to Section 2.26(a) shall, in each case, execute a
“Commitment Increase Supplement” with the Borrowers, the Swing Line Lender, each Issuing
Lender and the Administrative Agent, substantially in the form of Exhibit K, whereupon such
Revolving Credit Lender shall be bound by and entitled to the benefits of this Agreement with
respect to the full amount of its Revolving Credit Commitment as so increased.
(d) On any Revolving Credit Increase Effective Date (as defined in clause (f) below), (i) each
bank, financial institution or other entity that is a New Revolving Credit Lender pursuant Section
2.26(b) or any Revolving Credit Lender that has increased its Revolving Credit Commitment pursuant
to Section 2.26(c) shall make available to the Administrative Agent such amounts in immediately
available funds as the Administrative Agent shall determine, for the benefit of the other relevant
Revolving Credit Lenders, as being required in order to cause, after giving effect to such increase
and the use of such amounts to make payments to
such
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other relevant Revolving Credit Lenders, each
Revolving Credit Lender’s portion of the outstanding Revolving Credit Loans of all the Lenders to
equal its Revolving Credit Percentage of such Revolving Credit Loans and (ii) the Borrowers shall
be deemed to have repaid and reborrowed all outstanding Revolving Credit Loans of all the Revolving
Credit Lenders to equal its Revolving Credit Percentage of such outstanding Revolving Credit Loans
as of the date of any increase in the Revolving Credit Commitments (with such reborrowing to
consist of the Types of Loans, with related Interest Periods if applicable, specified in a notice
delivered by the Borrowers in accordance with the requirements of Section 2.5). The deemed
payments made pursuant to clause (ii) of the immediately preceding sentence in respect of each
Eurodollar Loan shall be subject to indemnification by the Borrowers pursuant to the provisions of
Section 2.19 if the deemed payment occurs other than on the last day of the related Interest
Periods.
(e) Notwithstanding anything to the contrary in this Section 2.26, (i) in no event may the
Borrowers deliver more than six Revolving Commitment Increase Notices, (ii) in no event shall there
be more than three Revolving Credit Increase Effective Dates and (iii) no Lender shall have any
obligation to increase its Revolving Credit Commitment unless it agrees to do so in its sole
discretion.
(f) The increase in the Revolving Credit provided pursuant to this Section 2.26 shall be
effective on the date (the “Revolving Credit Increase Effective Date”) the Administrative
Agent, for the benefit of the Lenders receives (i) a legal opinion of counsel to the Borrowers
covering such matters as are customary for transactions of this type and such other matters as may
be reasonably requested by the Administrative Agent and (ii) certified copies of resolutions of the
Borrowers authorizing such Revolving Offered Increase Amount.
(g) Prior to or concurrently with the initial increase of the Revolving Credit Commitments
pursuant to this Section 2.26, to the extent not previously delivered, the Administrative Agent
shall have received a mortgage amendment increasing the amount of the Facilities covered up to
$275,000,000 for each Mortgage as the Administrative Agent shall reasonably determine is necessary
to maintain the priority of the first mortgage Lien encumbering the relevant Mortgaged Property,
executed and delivered by a duly authorized officer of the relevant Loan Party.
SECTION 3. LETTERS OF CREDIT
3.1 L/C Commitment. (a) As of the First Amendment Effective Date, all of the Existing Letters of Credit shall
be deemed to be Letters of Credit issued hereunder and shall be subject to all of the terms and
provisions of this Agreement and the other Loan Documents applicable to Letters of Credit issued
hereunder. Each Lender with a Revolving Credit Commitment agrees that its obligations with respect
to Letters of Credit pursuant to this Section 3.1 shall include the Existing Letters of Credit and
the Borrowers hereby (x) represent, warrant, agree, covenant and reaffirm that they have no
defense, set off, claim or counterclaim against the Administrative Agent and the Lenders with
regard to their Obligations in respect of such Existing Letters of Credit and (y) reaffirm their
obligations to reimburse the Issuing Lender for amounts drawn under such Existing Letters of Credit
in accordance with the terms and provisions of this Agreement and the other Loan Documents.
Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of
the other Revolving Credit Lenders set forth in Section 3.4(a), agrees to issue letters of credit
(the letters of credit issued on and after the First Amendment Effective Date pursuant to this
SECTION 3, together with the Existing Letters of Credit, collectively, the “Letters of
Credit”) for the account of the Borrowers on any Business Day during the Revolving Credit
Commitment Period in such form as may be approved from time to time by such Issuing Lender;
provided, that no Issuing Lender shall have any obligation to issue any Letter of Credit
if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment
or (ii) the aggregate amount of the Available Revolving Credit Commitments would be less than zero.
Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the
earlier of (x) the first anniversary of its date of issuance and (y) the date which is thirty (30)
days prior to the Revolving Credit Termination Date; provided that any Letter of Credit
with a one-year term may provide for the renewal thereof for additional one-year periods (which
shall in no event extend beyond the date referred to in clause (y) above).
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(b) No Issuing Lender shall at any time be obligated to issue any Letter of Credit hereunder
if such issuance would conflict with, or cause such Issuing Lender or any L/C Participant to exceed
any limits imposed by, any applicable Requirement of Law.
Notwithstanding anything else to the contrary herein, if any Lender is a Defaulting Lender, no
Issuing Lender shall be obligated to issue any Letter of Credit unless (w) the Defaulting Lender
has been replaced in accordance with Section 2.22, (x) the L/C Obligations of such Defaulting
Lender have been cash collateralized, (y) the Total Revolving Credit Commitments of the other
Lenders have been increased by an amount sufficient to satisfy the Administrative Agent and the
applicable Issuing Lender that all future L/C Obligations will be covered by all Revolving Credit
Lenders that are not Defaulting Lenders, or (z) the L/C Obligations of such Defaulting Lender have
been reallocated to other Revolving Credit Lenders in a manner consistent with Section 2.22.
3.2 Procedure for Issuance of Letter of Credit. Each Borrower may from time to time request that an Issuing Lender issue a Letter of Credit
by delivering to such Issuing Lender at its address for notices specified herein an Application
therefor, completed to the satisfaction of such Issuing Lender, and such other certificates,
documents and other papers and information as such Issuing Lender may request. Concurrently with
the delivery of an Application to an Issuing Lender, the relevant Borrower shall deliver a copy
thereof to the Administrative Agent. Upon receipt of any Application, an Issuing Lender will
process such Application and the certificates, documents and other papers and information delivered
to it in connection therewith in accordance with its customary procedures and shall promptly issue
the Letter of Credit requested thereby by issuing the original of such Letter of Credit to the
beneficiary thereof or as otherwise may be agreed to by such Issuing Lender and the relevant
Borrower (but in no event shall any Issuing Lender be required to issue any Letter of Credit
earlier than three Business Days after its receipt of the Application therefor and all such other
certificates, documents and other papers and information relating thereto). Promptly after
issuance by an Issuing Lender of a Letter of Credit, such Issuing Lender shall furnish a copy of
such Letter of Credit to the relevant Borrower. Each Issuing Lender shall promptly give notice to
the Administrative Agent of the issuance of each Letter of Credit issued by such Issuing Lender
(including the face amount thereof), and shall provide a copy of such Letter of Credit to the
Administrative Agent as soon as possible after the date of issuance.
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3.3 Fees and Other Charges. (a) The Borrowers will pay a fee on the aggregate drawable amount of all outstanding
Letters of Credit at a per annum rate equal to the Applicable Margin with respect to Eurodollar
Loans then in effect, shared ratably among the Revolving Credit Lenders in accordance with their
respective Revolving Credit Percentages and payable quarterly in arrears on each L/C Fee Payment
Date after the issuance date (such fees, the “Letter of Credit Fees”). In addition, the Borrowers
shall pay to the relevant Issuing Lender for its own account a fronting fee on the aggregate
drawable amount of all outstanding Letters of Credit issued by it equal to .125% per annum, payable
quarterly in arrears on each L/C Fee Payment Date after the issuance date.
(b) In addition to the foregoing fees, the Borrowers shall pay or reimburse each Issuing
Lender for such normal and customary costs and expenses as are incurred or charged by such Issuing
Lender in issuing, negotiating, effecting payment under, amending or otherwise administering any
Letter of Credit.
(c) The Borrowers hereby agree that accrued and unpaid “letter of credit fees” in an amount
equal to $88,078.06 due and owing to certain Lenders under Section 3.3(a) of the Existing Credit
Agreement as of the First Amendment Effective Date shall be paid in full in cash by the Borrowers
to the Administrative Agent, for the benefit of the Revolving Credit Lenders under the Existing
Credit Agreement on the date hereof.
3.4 L/C Participations. (a) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C
Participant, and, to induce each Issuing Lender to issue Letters of Credit hereunder, each L/C
Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each
Issuing Lender, on the terms and conditions hereinafter stated, for such L/C Participant’s own
account and risk, an undivided interest equal to such L/C Participant’s Revolving Credit Percentage
in each Issuing Lender’s obligations and rights under each Letter of Credit issued by such Issuing
Lender hereunder and the amount of each draft paid by such Issuing Lender thereunder (including any
interest payable with respect thereto pursuant to Section 3.5). Each L/C Participant
unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any
Letter of Credit issued by such Issuing Lender for which such Issuing Lender is not reimbursed in
full by the Borrowers in accordance with the terms of this Agreement, such L/C Participant shall
pay to the Administrative Agent for the account of such Issuing Lender upon demand at such Issuing
Lender’s address for notices specified herein (and thereafter the Administrative Agent shall
promptly pay to such Issuing Lender) an amount equal to such L/C Participant’s Revolving Credit
Percentage of the amount of such draft, or any part thereof, that is not so reimbursed (including
any interest payable with respect thereto pursuant to Section 3.5). Each L/C Participant’s
obligation to pay such amount shall be absolute and unconditional and shall not be affected by any
circumstance, including (i) any setoff, counterclaim, recoupment, defense or other right that such
L/C Participant may have against the Issuing Lender, the Borrowers or any other Person for any
reason whatsoever, (ii) the occurrence or continuance of a Default or an Event of Default or the
failure to satisfy any of the other conditions specified in SECTION 5, (iii) any adverse change in
the condition (financial or otherwise) of the Borrowers or any other Loan Party, (iv) any breach of
this Agreement or any other Loan Document by the Borrowers, any other Loan Party or any other L/C
Participant or (v) any other circumstance, happening or event whatsoever, whether or not similar to
any of the foregoing.
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(b) If any amount (a “Participation Amount”) required to be paid by any L/C
Participant to an Issuing Lender pursuant to Section 3.4(a) in respect of any unreimbursed portion
of any payment made by such Issuing Lender under any Letter of Credit is not paid to such Issuing
Lender within three Business Days after the date such payment is due, such Issuing Lender shall so
notify the Administrative Agent, which shall promptly notify the L/C Participants, and each L/C
Participant shall pay to the Administrative Agent, for the account of such Issuing Lender, on
demand (and thereafter the Administrative Agent shall promptly pay to such Issuing Lender) an
amount equal to the product of (i) such Participation Amount, times (ii) the daily average
Federal Funds Effective Rate during the period from and including the date such payment is required
to the date on which such payment is immediately available to such Issuing Lender, times
(iii) a fraction the numerator of which is the number of days that elapse during such period and
the denominator of which is 360. If any Participation Amount required to be paid by any L/C
Participant pursuant to Section 3.4(a) is not made available to the
Administrative Agent for the account of the relevant Issuing Lender by such L/C Participant
within three Business Days after the date such payment is due, the Administrative Agent on behalf
of such Issuing Lender shall be entitled to recover from such L/C Participant, on demand, such
Participation Amount with interest thereon calculated from such due date at the rate per annum
applicable to Base Rate Loans under the Revolving Credit Facility. A certificate of the
Administrative Agent submitted on behalf of an Issuing Lender to any L/C Participant with respect
to any amounts owing under this Section shall be conclusive in the absence of manifest error.
(c) Whenever, at any time after an Issuing Lender has made payment under any Letter of Credit
and has received from the Administrative Agent any L/C Participant’s pro rata share of such payment
in accordance with Section 3.4(a), such Issuing Lender receives any payment related to such Letter
of Credit (whether directly from the Borrowers or otherwise, including proceeds of collateral
applied thereto by such Issuing Lender), or any payment of interest on account thereof, such
Issuing Lender will distribute to the Administrative Agent for the account of such L/C Participant
(and thereafter the Administrative Agent will promptly distribute to such L/C Participant) its pro
rata share thereof; provided, however, that in the event that any such payment
received by such Issuing Lender shall be required to be returned by such Issuing Lender, such L/C
Participant shall return to the Administrative Agent for the account of such Issuing Lender (and
thereafter the Administrative Agent shall promptly return to such Issuing Lender) the portion
thereof previously distributed by such Issuing Lender.
3.5 Reimbursement Obligation of the Borrowers. In the event any payment is made under a Letter of Credit, the Issuing Lender or the
Administrative Agent shall promptly notify the Borrowers of the amount of the draft presented under
such Letter of Credit and the amount so paid by the Issuing Lender, and the Borrowers shall pay to
the Issuing Lender of any Letter of Credit, or to the Administrative Agent for the benefit of such
Issuing Lender, the amount of (a) such draft so paid and (b) any taxes, fees, charges or other
costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts
described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the
“Payment Amount”) no later than the first Business Day after the date on which the Borrowers
receive notice from such Issuing Lender or from the Administrative Agent that payment has been made
under such Letter of Credit or that such Payment Amount is otherwise due (the “L/C Reimbursement
Date”). Each such payment shall be made to such Issuing Lender at its address for notices provided
by such Issuing Lender to the Administrative Agent and the Borrowers
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when such Issuing Lender
becomes an “Issuing Lender” hereunder in lawful money of the United States of America and in
immediately available funds. Interest shall be payable on each Payment Amount from the date of the
applicable drawing until payment in full at the rate set forth in (i) until the second Business Day
following the L/C Reimbursement Date, Section 2.13(b) and (ii) thereafter, Section 2.13(c). Each
drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or
(ii) of Section 8(f) shall have occurred and be continuing with respect to the Borrowers, in which
case the procedures specified in Section 3.4 for funding by L/C Participants shall apply)
constitute a request by the Borrowers to the Administrative Agent for a borrowing pursuant to
Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line
Lender in their sole discretion, a borrowing pursuant to Section 2.24 of Swing Line Loans) in the
amount of such drawing. The
Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of
Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.5
(or, if applicable, Section 2.24), if the Administrative Agent had received a notice of such
borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of
such drawing under such Letter of Credit.
3.6 Obligations Absolute. Each Borrower’s obligations under this SECTION 3 shall be absolute and unconditional under
any and all circumstances and irrespective of any setoff, counterclaim or defense to payment that
the Borrowers may have or have had against any Issuing Lender, any beneficiary of a Letter of
Credit or any other Person. Each Borrower also agrees with each Issuing Lender that such Issuing
Lender shall not be responsible for, and such Borrower’s Reimbursement Obligations under Section
3.5 shall not be affected by the validity or genuineness of documents or of any endorsements
thereon, even though such documents shall in fact prove to be invalid, fraudulent or forged, or any
dispute between or among the Borrowers and any beneficiary of any Letter of Credit or any other
party to which such Letter of Credit may be transferred or any claims whatsoever of the Borrowers
against any beneficiary of such Letter of Credit or any such transferee. No Issuing Lender shall
be liable for any error, omission, interruption or delay in transmission, dispatch or delivery of
any message or advice, however transmitted, in connection with any Letter of Credit, except for
errors or omissions found by a final and non-appealable decision of a court of competent
jurisdiction to have resulted from the gross negligence or willful misconduct of such Issuing
Lender. Each Borrower agrees that any action taken or omitted by an Issuing Lender under or in
connection with any Letter of Credit issued by it or the related drafts or documents, if done in
the absence of gross negligence or willful misconduct and in accordance with the standards or care
specified in the Uniform Commercial Code of the State of New York, shall be binding on such
Borrower and shall not result in any liability of such Issuing Lender to such Borrower.
3.7 Letter of Credit Payments. If any draft shall be presented for payment under any Letter of Credit, the relevant
Issuing Lender shall promptly notify the Borrowers and the Administrative Agent of the date and
amount thereof. The responsibility of the relevant Issuing Lender to the Borrowers in connection
with any draft presented for payment under any Letter of Credit, in addition to any payment
obligation expressly provided for in such Letter of Credit issued by such Issuing Lender, shall be
limited to determining that the documents (including each draft) delivered under such Letter of
Credit in connection with such presentment appear on their face to be in conformity with such
Letter of Credit.
3.8 Applications. To the extent that any provision of any Application related to any Letter of Credit is
inconsistent with the provisions of this SECTION 3, the provisions of this SECTION 3 shall apply.
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SECTION 4. REPRESENTATIONS AND WARRANTIES
To induce the Agents and the Lenders to enter into this Agreement and to make the Loans and
issue or participate in the Letters of Credit, each Borrower hereby jointly and severally
represents and warrants to each Agent and each Lender that:
4.1 Financial Condition. (a) The unaudited consolidated balance sheet of the Borrowers and their consolidated
Subsidiaries as at November 30, 2010 (including the notes thereto, if any) (the “Balance
Sheet”), copies of which have heretofore been furnished to each Lender. The Balance Sheet has
been prepared based on the best information available to the Borrowers as of the date of delivery
thereof, and presents fairly the combined financial position of the Borrowers and their
consolidated Subsidiaries as at November 30, 2010.
(b) The unaudited consolidated balance sheets of MAPCO Express and its consolidated
Subsidiaries as at September 30, 2010, and the related consolidated statements of income and of
cash flows for the period ended on such date, copies of which have heretofore been furnished to
each Lender, present fairly the consolidated financial condition of MAPCO Express and its
consolidated Subsidiaries as at such date, and the consolidated results of its operations and its
consolidated cash flows as at such date. The audited consolidated balance sheets of MAPCO Express
and its consolidated Subsidiaries as at December 31, 2009, and the related consolidated statements
of income and of cash flows for the fiscal year ended on such date, reported on by and accompanied
by an unqualified report from Ernst & Young LLP, copies of which have heretofore been furnished to
each Lender, present fairly the consolidated financial condition of MAPCO Express and its
consolidated Subsidiaries as at such date, and the consolidated results of its operations and its
consolidated cash flows for the fiscal year then ended. All such financial statements, including
the related schedules and notes thereto, have been prepared in accordance with GAAP applied
consistently throughout the periods involved (except as approved by the aforementioned firm of
accountants and disclosed therein). Except as set forth on Schedule 4.1(b), the Borrowers and
their Subsidiaries, taken as a whole, do not have any material Guarantee Obligations, contingent
liabilities and liabilities for taxes, or any long-term leases or unusual forward or long-term
commitments, including, without limitation, any interest rate or foreign currency swap or exchange
transaction or other obligation in respect of derivatives, that are not reflected in the most
recent financial statements referred to in this paragraph.
4.2 No Change. Since December 31, 2009 there has been no development or event that has had or would
reasonably be expected to have a Material Adverse Effect.
4.3 Corporate Existence; Compliance with Law. Each of the Borrowers and their Subsidiaries (a) is duly organized, validly existing and in
good standing under the laws of the jurisdiction of its organization, (b) has the corporate power
and authority, and the legal right, to own and operate its Property, to lease the Property it
operates as lessee and to conduct the business in which it is currently engaged, (c) is duly
qualified as a foreign corporation or other organization and in good standing under the laws
of each jurisdiction where its ownership, lease or operation of Property or the conduct of its
business requires such qualification except to the extent the failure to so qualify would not, in
the aggregate, reasonably be expected to have a Material Adverse Effect, (d) is in compliance with
all Requirements of Law except to the extent that the failure to comply therewith would not, in the
aggregate, reasonably be expected to have a Material Adverse Effect and (e) has the power and
authority to declare and pay the First Amendment Effective Date Dividends and the Additional
Dividends.
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4.4 Corporate Power; Authorization; Enforceable Obligations. Each Loan Party has the corporate power and authority, and the legal right, to make,
deliver and perform the Loan Documents to which it is a party and, in the case of each Borrower, to
borrow hereunder. Each Loan Party has taken all necessary corporate action to authorize the
execution, delivery and performance of the Loan Documents to which it is a party and, in the case
of each Borrower, to authorize the borrowings on the terms and conditions of this Agreement.
Subject to Schedule 4.4, no consent or authorization of, filing with, notice to or other act by or
in respect of, any Governmental Authority or any other Person is required in connection with the
borrowings hereunder or the execution, delivery, performance, validity or enforceability of this
Agreement or any of the other Loan Documents, except (i) consents, authorizations, filings and
notices that have been obtained or made and are in full force and effect and (ii) the filings
referred to in Section 4.19. Each Loan Document has been duly executed and delivered on behalf of
each Loan Party that is a party thereto. This Agreement constitutes, and each other Loan Document
upon execution will constitute, a legal, valid and binding obligation of each Loan Party that is a
party thereto, enforceable against each such Loan Party in accordance with its terms, except as
enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or
similar laws affecting the enforcement of creditors’ rights generally and by general equitable
principles (whether enforcement is sought by proceedings in equity or at law).
4.5 No Legal Bar. The execution, delivery and performance of this Agreement and the other Loan Documents, the
issuance of Letters of Credit, the borrowings hereunder, the use of the proceeds thereof and the
declaration and payment of the First Amendment Effective Date Dividend, have been duly authorized
by all necessary action, and will not violate any material Requirement of Law or any Contractual
Obligation of any Borrower or any of its Subsidiaries and will not result in, or require, the
creation or imposition of any Lien on any of their respective properties or revenues pursuant to
any Requirement of Law or any such Contractual Obligation (other than the Liens created by the
Security Documents). No Requirement of Law or Contractual Obligation applicable to the Borrower or
any of its Subsidiaries would reasonably be expected to have a Material Adverse Effect.
4.6 No Material Litigation. No litigation, investigation or proceeding of or before any arbitrator or Governmental
Authority is pending or, to the knowledge of the Borrowers, threatened by or against any
Borrower or any of its Subsidiaries or against any of their respective properties or revenues
(a) with respect to any of the Loan Documents or any of the transactions contemplated hereby or
thereby, or (b) that would reasonably be expected to have a Material Adverse Effect.
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4.7 No Default. None of the Borrowers nor any of their Subsidiaries is in default under or with respect to
any of its Contractual Obligations in any respect that would reasonably be expected to have a
Material Adverse Effect. No Default or Event of Default has occurred and is continuing.
4.8 Ownership of Property; Liens. Schedule 4.8(a) sets forth, as of the First Amendment Effective Date, all fee owned
and leased real Property of the Loan Parties and their Subsidiaries. Except as described on
Schedule 4.8(b), each of the Borrowers and their Subsidiaries has title in fee simple to,
or a valid leasehold interest in, all its material real property, and good title to, or a valid
leasehold interest in, all its other property, and none of such property is subject to any Lien
except as permitted by Section 7.3. Other than with respect to the Exempt Properties, the
Borrowers have previously executed and delivered a first priority Mortgage in favor of the
Administrative Agent, for the benefit of the Secured Parties, covering all fee owned and leased
real Property of the Borrowers and the Subsidiary Guarantors.
4.9 Intellectual Property. Each of the Borrowers and each of their Subsidiaries owns, or is licensed to use, all
intellectual property reasonably necessary for the conduct of its business as currently conducted.
No claim has been asserted and is pending by any Person challenging or questioning the use of any
intellectual property or the validity or effectiveness of any intellectual property, except for
claims that would not, in the aggregate, reasonably be expected to have a Material Adverse Effect,
nor does any Borrower know of any valid basis for any such claim. The use of intellectual property
material to the Borrowers or their Subsidiaries for the conduct of its business as currently
conducted, does not, to their knowledge after due inquiry, infringe on the rights of any Person in
any material respect.
4.10 Taxes. Each of the Borrowers and each of their Subsidiaries have filed or caused to be filed all
federal and state income tax returns and other material tax returns that are required to be filed
and has paid all taxes shown to be due and payable on said returns or on any assessments made
against it or any of its Property and all other material taxes, fees or other charges imposed on it
or any of its Property by any Governmental Authority (other than (x) any the amount or validity of
which are currently being contested in good faith by appropriate proceedings and with respect to
which reserves in conformity with GAAP have been provided on the books of the Borrower or its
Subsidiaries or (y) taxes which are due and payable, but not yet delinquent, as the case may be);
and no material tax Lien has been filed, and, to the knowledge of the Borrowers, no claim is being
asserted, with respect to any such tax, fee or other charge (other than Liens for current taxes not
yet delinquent).
4.11 Federal Regulations. No part of the proceeds of any loans, and no other extensions of credit hereunder, will be
used for “purchasing” or “carrying” any “margin stock” within the respective meanings of each of
the quoted terms under Regulation U as now and from time to time hereafter in effect or for any
purpose that violates the provisions of the Regulations of the Board. If requested by any Lender
or the Administrative Agent, the Borrowers will furnish to the Administrative Agent and each Lender
a statement to the foregoing effect in conformity with the requirements of FR Form G-3 or FR Form
U-1 referred to in Regulation U.
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4.12 Labor Matters. There are no strikes or other labor disputes against the Borrowers or any of their
Subsidiaries pending or, to the knowledge of any Borrower, threatened that (individually or in the
aggregate) would reasonably be expected to have a Material Adverse Effect. Hours worked by and
payment made to employees of the Borrowers and their Subsidiaries have not been in violation of the
Fair Labor Standards Act or any other applicable requirement of law dealing with such matters that
(individually or in the aggregate) would reasonably be expected to have a Material Adverse Effect.
All payments due from the Borrowers or any of their Subsidiaries on account of employee health and
welfare insurance that (individually or in the aggregate) would reasonably be expected to have a
Material Adverse Effect if not paid have been paid or accrued as a liability on the books of the
relevant Borrower or the relevant Subsidiary.
4.13 ERISA. Neither a Reportable Event nor an “accumulated funding deficiency” (within the meaning of
Section 412 of the Code or Section 302 of ERISA) has occurred during the five-year period prior to
the date on which this representation is made or deemed made with respect to any Single Employer
Plan, and each Single Employer Plan has complied in all material respects with the applicable
provisions of ERISA and the Code. No termination of a Single Employer Plan has occurred, and no
Lien in favor of the PBGC or a Plan has arisen, during such five-year period on the assets of a
Borrower or any Commonly Controlled Entity. The present value of all accrued benefits under each
Single Employer Plan (based on those assumptions used to fund such Plans) did not, as of the last
annual valuation date prior to the date on which this representation is made or deemed made, exceed
the value of the assets of such Plan allocable to such accrued benefits by a material amount. None
of the Borrowers nor any Commonly Controlled Entity has had a complete or partial withdrawal from
any Multiemployer Plan that has resulted or would reasonably be expected to result in a material
liability under ERISA, and neither of the Borrowers nor any Commonly Controlled Entity would become
subject to any material liability under ERISA if a Borrower or any such Commonly Controlled Entity
were to withdraw completely from all Multiemployer Plans as of the valuation date most closely
preceding the date on which this representation is made or deemed made. No such Multiemployer Plan
is in reorganization or insolvent.
4.14 Investment Company Act; Other Regulations. No Loan Party is an “investment company”, or a company “controlled” by an “investment
company”, within the meaning of the Investment Company Act of 1940, as amended. No Loan Party is
subject to regulation under any Requirement of Law (other than Regulation X of the Board) that
limits its ability to incur Indebtedness.
4.15 Subsidiaries. (a) The Subsidiaries listed on Schedule 4.15 constitute all the Subsidiaries of
the Borrowers as of the First Amendment Effective Date. Schedule 4.15 sets forth as of the
First Amendment Effective Date the name and jurisdiction of incorporation of each Subsidiary and,
as to each Subsidiary, the percentage of each class of Capital Stock owned by each Loan Party.
(b) There are no outstanding subscriptions, options, warrants, calls, rights or other
agreements or commitments (other than the Management Stock Plans and stock options granted to
employees or directors and directors’ qualifying shares) of any nature relating to any Capital
Stock of the Borrowers or any of their Subsidiaries.
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4.16 Use of Proceeds. The proceeds of the Term Loans were used to finance the “Transactions” and the “Delek US
Dividend” (each as defined in the “Existing Credit Agreement” defined in the Existing Credit
Agreement), and to pay related fees and expenses. The proceeds of the Revolving Credit Loans and
the Swing Line Loans, and the Letters of Credit shall be used (a) to make the First Amendment
Effective Date Dividend, the Additional Dividends and other dividends expressly permitted pursuant
to Section 7.6 of this Agreement, (b) for working capital and general corporate purposes not in
contravention of any Requirement of Law and not in violation of this Agreement, and (c) to pay
costs and expenses of the transactions contemplated hereby.
4.17 Environmental Matters. Other than exceptions to any of the following that would not, individually or in the
aggregate, (x) reasonably be expected to result in the payment of a Material Environmental Amount
in any fiscal year and/or (y) reasonably be expected to result in the payment of a Material
Environmental Aggregate Amount during the term of this Agreement (in each case, after giving effect
to any insurance coverage, Government Authority funds designated for the payment of such amounts or
any third party indemnity as to which the third party indemnitor has acknowledged coverage):
(a) each Borrower and its Subsidiaries: (i) are, and within the period of all applicable
statutes of limitation have been, in compliance with all applicable Environmental Laws; (ii) hold
all Environmental Permits (each of which is in full force and effect) required for any of their
current or intended operations or for any property owned, leased, or otherwise operated by any of
them; (iii) are, and within the period of all applicable statutes of limitation have been, in
compliance with all of their Environmental Permits; and (iv) reasonably believe that: each of
their Environmental Permits will be timely renewed and complied with, without material expense; any
additional Environmental Permits that may be required of any of them will be timely obtained and
complied with, without material expense; and compliance with any
Environmental Law that is or is expected to become applicable to any of them will be timely
attained and maintained, without material expense.
(b) Materials of Environmental Concern are not present at, on, under, in, or about any real
property now or formerly owned, leased or operated by any Borrower or any of its Subsidiaries, or
at any other location (including, without limitation, any location to which Materials of
Environmental Concern have been sent for re-use or recycling or for treatment, storage, or
disposal) which would reasonably be expected to (i) give rise to liability of the Borrowers or any
of their Subsidiaries under any applicable Environmental Law or otherwise result in costs to the
Borrowers or any of their Subsidiaries, or (ii) interfere with the Borrowers’ or any of their
Subsidiaries’ continued operations, or (iii) impair the fair saleable value of any real property
owned or leased by the Borrowers or any of their Subsidiaries (it being understood that
noncompliance with clauses (i) and (iii) of this Section 4.17(b) shall be deemed not to constitute
a breach of this Section 4.17(b) if such noncompliance would not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect).
(c) There is no judicial, administrative, or arbitral proceeding (including any notice of
violation or alleged violation) under or relating to any Environmental Law to which any Borrower or
any of its Subsidiaries is, or to the knowledge of the Borrowers or any of their Subsidiaries will
be, named as a party that is pending or, to the knowledge of any Borrower or any of its
Subsidiaries, threatened in writing.
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(d) None of the Borrowers nor any of their Subsidiaries has received any written request for
information, or been notified that it is a potentially responsible party under or relating to the
federal Comprehensive Environmental Response, Compensation, and Liability Act or any similar
Environmental Law, or with respect to any Materials of Environmental Concern.
(e) None of the Borrowers nor any of their Subsidiaries has entered into or agreed to any
consent decree, order, or settlement or other agreement, or is subject to any judgment, decree, or
order or other agreement, in any judicial, administrative, arbitral, or other forum for dispute
resolution, relating to compliance with or liability under any Environmental Law.
(f) None of the Borrowers nor any of their Subsidiaries has assumed or retained, by contract
or operation of law, any liabilities of any kind, fixed or contingent, known or unknown, under any
Environmental Law or with respect to any Material of Environmental Concern (it being understood
that noncompliance with this Section 4.17(f) shall be deemed not to constitute a breach of this
Section 4.17(f) if such noncompliance would not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect).
4.18 Accuracy of Information, etc. No statement or information contained in this Agreement, any other Loan Document or any
other document, certificate or statement furnished to the Administrative Agent or the Lenders or
any of them, by or on behalf of any Loan Party for use in connection with the transactions
contemplated by this Agreement or the other Loan Documents, contained as of the date such
statement, information, document or certificate was so furnished, any untrue statement
of a material fact or omitted to state a material fact necessary to make the statements
contained herein or therein not misleading. The projections and pro forma financial information
contained in the materials referenced above are based upon good faith estimates and assumptions
believed by management of the Borrowers to be reasonable at the time made, it being recognized by
the Lenders that such financial information as it relates to future events is not to be viewed as
fact and that actual results during the period or periods covered by such financial information may
differ from the projected results set forth therein by a material amount. There is no fact known
to any Loan Party that would reasonably be expected to have a Material Adverse Effect that has not
been expressly disclosed herein, in the other Loan Documents or in any other documents,
certificates and statements furnished to the Agents and the Lenders for use in connection with the
transactions contemplated hereby and by the other Loan Documents.
4.19 Security Documents. (a) The Guarantee and Collateral Agreement is effective to create in favor of the
Administrative Agent, for the benefit of the Secured Parties, a legal, valid and enforceable
security interest in the Collateral described therein and proceeds thereof. The liens and security
interests previously granted by the Loan Parties to the Administrative Agent under the Security
Documents remain valid and existing, and no further action is required to perfect any such liens
and security interests and the amendment and restatement of this Agreement and such Security
Documents does not result in a loss of priority from that which existed prior to the First
Amendment Effective Date. The Administrative Agent currently has, for the benefit of the Lenders,
a fully perfected Lien on, and security interest in, all right, title and interest of the Loan
Parties in such Collateral and the proceeds thereof (other than Deposit Accounts, to the extent
that there are no control agreements with respect thereto), as security for the Obligations (as
defined in the Guarantee and Collateral Agreement), in each case prior and superior in right to any
other Person (except, in the case of Collateral other than Pledged Stock, Liens permitted by
Section 7.3).
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(b) Each of the Mortgages, as amended by the Mortgage Amendments, is effective to create in
favor of the Administrative Agent, for the benefit of the Secured Parties, a legal, valid and
enforceable Lien on the Mortgaged Properties described therein and proceeds thereof; and each
Mortgage shall constitute, or shall continue to constitute, as applicable, a fully perfected Lien
on, and security interest in, all right, title and interest of the Loan Parties in the Mortgaged
Properties described therein and the proceeds thereof, as security for the Obligations (as defined
in the relevant Mortgage), in each case prior and superior in right to any other Person (other than
Persons holding Liens or other encumbrances or rights permitted by the relevant Mortgage).
4.20 Solvency. Each Loan Party is, and after giving effect to the consummation of the transactions
contemplated by this Agreement and the incurrence (or deemed incurrence) of all Indebtedness and
obligations being incurred in connection herewith will be, Solvent.
4.21 Regulation H. No Mortgage encumbers improved real property which is located in an area that has been
identified by the Secretary of Housing and Urban Development as an area having special flood
hazards and in which flood insurance has been made available under the National Flood Insurance Act
of 1968 (except any Mortgaged Properties as to which such flood insurance as required by Regulation
H has been obtained and is in full force and effect as required by this Agreement).
SECTION 5. CONDITIONS PRECEDENT
5.1 Conditions to Effectiveness. The occurrence of the First Amendment Effective Date and the agreement of each Lender to
make extensions of credit requested to be made by it hereunder (or deemed to be made by it
hereunder) are subject to the satisfaction of the following conditions precedent:
(a) Agreement. The Administrative Agent shall have received this Agreement, executed
and delivered by a duly authorized officer of each Borrower.
(b) Appraisals. (i) The Administrative Agent shall have received satisfactory
appraisals of all fee owned properties from a firm reasonably satisfactory to the Administrative
Agent (such Appraisals, the “Closing Date Appraisals”) and (ii) the Administrative Agent shall have
received Closing Date Appraisals, which shall demonstrate a combined “loan” to value ratio for all
such properties of not more than sixty five percent (65%). “loans” shall be defined as the sum of
the aggregate principal amount of all Loans borrowed (or deemed borrowed) on the First Amendment
Effective Date (after giving effect to the prepayment of the Term Loans occurring on the First
Amendment Effective Date) plus all L/C Obligations in existence on the First Amendment Effective
Date.
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(c) Balance Sheet; Financial Statements. The Lenders shall have received (i) the
Balance Sheet and (ii) unaudited interim consolidated financial statements of MAPCO Express and its
consolidated Subsidiaries for the fiscal month ending November 30, 2010; and such financial
statements shall not, in the reasonable judgment of the Lenders, reflect any material adverse
change in the consolidated financial condition of MAPCO Express and its consolidated Subsidiaries,
taken as a whole, as reflected in the financial statements.
(d) Approvals. All governmental and third party approvals (including landlords’ and
other consents) (i) materially necessary in connection with the continuing operations of the
Borrowers and their Subsidiaries, taken as a whole, and (ii) necessary in connection with the
transactions contemplated hereby shall have been obtained and be in full force and effect.
(e) Related Agreements. The Administrative Agent shall have received (delivered by a
method reasonably satisfactory to the Administrative Agent), true and correct copies, certified as
to authenticity by MAPCO Express, of such documents or instruments as may be reasonably requested
by the Administrative Agent, including, without limitation, a copy of any debt instrument, security
agreement or other material contract to which the Loan Parties may be a party.
(f) EBITDA and Leverage. The Administrative Agent shall have received a properly
completed Compliance Certificate, in form and substance reasonably acceptable to the Administrative
Agent, demonstrating that the ratio of (x) Consolidated Total Debt of the Loan Parties as of the
First Amendment Effective Date after giving effect to the consummation of the transactions
contemplated hereby (including, without limitation, the making of the First Amendment Effective
Date Dividend), payment of all costs and expenses in connection therewith, funding of the initial
Loans, to (y) Consolidated EBITDA of Mapco Express and its consolidated Subsidiaries for the
trailing twelve month period ended November 30, 2010 shall be not greater than 3.10 to 1.00.
(g) Fees. The Lenders and the Administrative Agent shall have received all fees
required to be paid, and all expenses for which invoices have been presented (including reasonable
fees, disbursements and other charges of counsel to the Administrative Agent), on or before the
First Amendment Effective Date. All such amounts will be paid with proceeds of Loans made on the
First Amendment Effective Date and will be reflected in the funding instructions given by the
Borrowers to the Administrative Agent on or before the First Amendment Effective Date.
(h) Lien Searches. The Administrative Agent shall have received the results of a
recent lien search in each of the jurisdictions in which Uniform Commercial Code financing
statement or other filings or recordations should be made to evidence or perfect security interests
in all assets of the Loan Parties in which a security interest may be created under the Uniform
Commercial Code, and such search shall reveal no liens on any of the assets of the Loan Party,
except for Liens permitted by Section 7.3.
(i) Material Adverse Effect. Since December 31, 2009, there shall not have occurred
any Material Adverse Effect.
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(j) Closing Certificate. The Administrative Agent shall have received a certificate
of each Loan Party, dated the First Amendment Effective Date, substantially in the form of Exhibit
C, with appropriate insertions and attachments.
(k) Legal Opinions. The Administrative Agent shall have received the legal opinion of
Bass, Xxxxx & Xxxx PLC, counsel to the Borrowers and their Subsidiaries, substantially in the form
of Exhibit F. Such legal opinion shall cover such other matters incident to the transactions
contemplated by this Agreement as the Administrative Agent may reasonably require and shall be
addressed to the Administrative Agent and the Lenders.
(l) PATRIOT Act. The Lenders shall have received, sufficiently in advance of the
First Amendment Effective Date, all documentation and other information required by bank regulatory
authorities under applicable “know your customer” and anti-money laundering rules and regulations,
including without limitation the United States PATRIOT Act.
5.2 Conditions to Each Extension of Credit. The agreement of each Lender to make any extension of credit requested to be made by it
hereunder on any date (including, without limitation, its initial extension of credit made or
deemed made on the First Amendment Effective Date) is subject to the satisfaction of the
following conditions precedent:
(a) Representations and Warranties. Each of the representations and warranties made
by any Loan Party in or pursuant to the Loan Documents shall be true and correct in all material
respects on and as of such date as if made on and as of such date.
(b) No Default. No Default or Event of Default shall have occurred and be continuing
on such date or after giving effect to the extensions of credit requested to be made on such date.
Each borrowing by and issuance of a Letter of Credit on behalf of the Borrowers hereunder
shall constitute a representation and warranty by the Borrowers as of the date of such extension of
credit that the conditions contained in this Section 5.2 have been satisfied.
SECTION 6. AFFIRMATIVE COVENANTS
Each Borrower hereby jointly and severally agrees that, so long as the Commitments remain in
effect, any Letter of Credit remains outstanding or any Loan or other amount is owing to any Lender
or any Agent hereunder, each Borrower shall and shall cause each of its Subsidiaries (and any Joint
Venture which is less than fifty percent (50%) owned by the Borrowers or any of its Subsidiaries,
if a Borrower or such Subsidiary is a general partner, or treated as a general partner, of such
Joint Venture resulting in general liability to a Borrower or such Subsidiary) to:
6.1 Financial Statements. Furnish to the Administrative Agent and each Lender:
(a) as soon as available, but in any event within 90 days after the end of each fiscal year of
the Borrowers, a copy of the audited consolidated balance sheet of MAPCO Express and its
consolidated Subsidiaries as at the end of such year and the related audited consolidated
statements of income and of cash flows for such year, in each case setting forth in comparative
form the figures as of the end of and for the previous year, and reported on without a “going
concern” or like qualification or exception, or qualification arising out of the scope of the
audit, by Ernst & Young LLP or other independent certified public accountants of nationally
recognized standing reasonably acceptable to the Administrative Agent; and
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(b) as soon as available, but in any event not later than (x) 50 days after the end of each of
the first three fiscal quarters of each fiscal year of the Borrowers and (y) 90 days after the end
of the last fiscal quarter of each fiscal year of the Borrowers, the unaudited consolidated balance
sheet of MAPCO Express and its consolidated Subsidiaries as at the end of such quarter and the
related unaudited consolidated statements of income and of cash flows for such quarter and the
portion of the fiscal year through the end of such quarter, in each case, setting forth in each
case in comparative form the figures as of the end of and for the corresponding period in the
previous year, certified by a Responsible Officer as being fairly stated in all material respects
(subject to normal year-end audit adjustments); and
(c) as soon as available and in any event within 30 days after the end of each calendar month,
a summary report as to the economic terms of each Hedge Agreement (other than interest rate swaps
and other similar transactions that hedge interest rate risk) to which any Borrower or any of their
Subsidiaries is a party, including obligations of any Borrower or any of their Subsidiaries under
such Hedge Agreement as of the end of such calendar month;
all such financial statements to be complete and correct in all material respects and to be
prepared in reasonable detail and in accordance with GAAP applied consistently throughout the
periods reflected therein and with prior periods (except as approved by Ernst & Young or such other
independent certified public accountant of nationally recognized standing chosen by the Borrowers
and reasonably acceptable to the Administrative Agent, as the case may be, and disclosed therein).
6.2 Certificates; Other Information. Furnish the Administrative Agent and each Lender, or, in the case of clause (g), to the
relevant Lender:
(a) concurrently with the delivery of the financial statements referred to in Section 6.1(a),
a certificate of the independent certified public accountants reporting on such financial
statements stating that in making the examination necessary therefor no knowledge was obtained of
any Default or Event of Default, except as specified in such certificate (it being understood that
such certificate shall be limited to the items that independent certified public accountants are
permitted to cover in such certificates pursuant to their professional standards and customs of the
profession);
(b) concurrently with the delivery of any financial statements pursuant to Section 6.1, (i) a
certificate of a Responsible Officer of each Borrower stating that, to the best of such Responsible
Officer’s knowledge, each Loan Party during such period has observed or performed all of its
covenants and other agreements, and satisfied every condition, contained in this Agreement and the
other Loan Documents to which it is a party to be observed, performed or satisfied by it, and that
such Responsible Officers have obtained no knowledge of any Default or Event of Default except as
specified in such certificate and (ii) in the case of quarterly or annual financial statements, (x)
a Compliance Certificate containing all information and calculations necessary for determining
compliance by the Borrowers and their Subsidiaries with the provisions of this Agreement referred
to therein as of the last day of the fiscal quarter or fiscal year of the Borrowers, as the case
may be, and (y) any UCC financing statements or other filings specified in such Compliance
Certificate as being required to be delivered therewith;
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(c) as soon as available, and in any event no later than 50 days after the end of each fiscal
year of the Borrowers, a detailed combined budget for the following (or then current, as the case
may be) fiscal year on a quarter by quarter basis and on a month by month basis (including a
projected combined balance sheet of the Borrowers and their Subsidiaries as of the end of the
following (or then current, as the case may be) fiscal year, projected changes in financial
position and projected income and a description of the underlying assumptions applicable thereto),
and, as soon as available, significant revisions, if any, of such budget and projections with
respect to such fiscal year (collectively, the “Projections”), which Projections
shall in each case be accompanied by a certificate of a Responsible Officer of each Borrower
stating that such Projections are based on reasonable estimates, information and assumptions and
that such Responsible Officers have no reason to believe that such Projections are incorrect or
misleading in any material respect;
(d) (i) within 50 days after the end of each of the first three fiscal quarters of each fiscal
year of the Borrowers, a narrative discussion and analysis of the combined financial condition and
results of operations of the Borrowers and their Subsidiaries for such fiscal quarter and for the
period from the beginning of the then current fiscal year to the end of such fiscal quarter, as
compared to the comparable periods of the previous year and (ii) within 90 days after the end of
each fiscal year of the Borrowers, a narrative discussion and analysis of the combined financial
condition and results of operations of the Borrowers and their Subsidiaries for such fiscal year,
as compared to the comparable periods of the previous year;
(e) within five days after the same are sent, copies of all financial statements and reports
that a Borrower sends to the holders of any class of its debt securities or public equity
securities and, within five days after the same are filed, copies of all financial statements and
reports that a Borrower may make to, or file with, the SEC;
(f) concurrently with the delivery of the financial statements referred to in Sections 6.1(a)
and 6.1(b) above, (i) a summary setting forth in reasonable detail all existing Joint Ventures and
describing any additional Joint Ventures entered into or formed, and any Joint Ventures that shall
have been liquidated, dissolved or otherwise terminated, since the date of the last such summary
delivered to the Administrative Agent and the Lenders in accordance with the terms hereof, and (ii)
to the extent available, copies of the most recent financial statements of the Joint Ventures; and
(g) promptly, such additional financial and other information as any Lender may from time to
time reasonably request.
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6.3 Payment of Obligations. Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent,
as the case may be, all its material obligations of whatever nature, except where the amount or
validity thereof is currently being contested in good faith by appropriate proceedings and reserves
in conformity with GAAP with respect thereto have been provided on the books of the Borrowers or
their Subsidiaries (and any Joint Venture which is less than fifty percent (50%) owned by such
Borrower or any of its Subsidiaries, if the Borrower or such Subsidiary is a general partner, or
treated as a general partner, of such Joint Venture resulting in general liability to such Borrower
or such Subsidiary), as the case may be.
6.4 Conduct of Business and Maintenance of Existence; Compliance. (a)(i) Subject to Section 7.4, preserve, renew and keep in full force and effect its
organizational existence and (ii) take all reasonable action to maintain all rights, privileges and
franchises necessary or desirable in the normal conduct of its business, except, in each case, as
otherwise permitted by Section 7.4 and except, in the case of clause (ii) above, to the extent that
failure to do so would not reasonably be expected to have a Material Adverse Effect; and (b)
comply with all Contractual Obligations and Requirements of Law, except to the extent that
failure to comply therewith would not, in the aggregate, reasonably be expected to have a Material
Adverse Effect.
6.5 Maintenance of Property; Insurance. (a) Keep all Property and systems useful and necessary in its business in good working
order and condition in all material respects, ordinary wear and tear, casualty and condemnation
excepted and (b) maintain with financially sound and reputable insurance companies insurance on all
its Property in at least such amounts and against at least such risks (but including in any event
public liability, product liability and business interruption) as are usually insured against in
the same general area by companies engaged in the same or a similar business and environmental
insurance in coverage and amounts reasonably satisfactory to the Administrative Agent. Anything
to the contrary contained in any Mortgage notwithstanding, (a) the Borrowers shall cause all such
insurance relating to any property of any Loan Party to name the Administrative Agent as loss payee
and mortgagee and (b) the Loan Parties shall direct all present and future insurers under its
policies of property insurance to pay all proceeds payable thereunder directly to the
Administrative Agent. If any insurance proceeds are paid by check, draft or other instrument
payable to any Loan Party and the Administrative Agent jointly, the Administrative Agent may
endorse such Loan Party’s name thereon and do such other things as the Administrative Agent may
deem advisable to reduce the same to cash. All proceeds of any insurance policy of the Loan
Parties paid to or for the account of the Administrative Agent shall be applied to outstanding
Revolving Credit Loans (without a permanent reduction of the Total Revolving Credit Commitments)
and, in the event no Revolving Credit Loans are then outstanding, such proceeds shall be paid
directly to the Borrowers’ accounts maintained at the Administrative Agent. The Administrative
Agent agrees to use reasonable efforts to assist the Borrower in collecting all amounts owed to the
Borrowers under such policies of insurance, and shall cooperate with and permit Borrower to
negotiate and agree to all commercially reasonable settlements and adjustments of any claims made
under such policies. For purposes of clarification, in the event of a Recovery Event, all proceeds
paid from insurers under the Borrowers’ policies of property insurance on account of such Recovery
Event that are applied to pay down the outstanding Revolving Credit Loans and are subsequently
borrowed by the Borrowers and used by the Borrowers to restore or rebuild the property that was the
subject of the Recovery Event shall deemed permitted expenditures to the same extent as if the
Borrowers had received the proceeds of the Recovery Event directly.
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6.6 Inspection of Property; Books and Records; Discussions. (a) Keep proper books of records and account in which full, true and correct entries in
conformity with GAAP shall be made of all dealings and transactions in relation to its business and
activities and (b) permit representatives of the Administrative Agent to visit and inspect any of
its properties and examine and make abstracts from any of its books and records at any reasonable
time and as often as may reasonably be desired (but not more than two visits in any calendar year
unless an Event of Default has occurred and is continuing) and to discuss the business, operations,
properties and financial and other condition of the Borrowers and their Subsidiaries with officers
and employees of the Borrowers and their Subsidiaries and with their independent certified public
accountants (such discussions with the independent certified
accountants to be in the presence of an officer of employee of the Borrowers or their
Subsidiaries). Any Lender may accompany the Administrative Agent in connection with any inspection
at such Lender’s expense.
6.7 Notices. Promptly give notice to the Administrative Agent and each Lender of:
(a) the occurrence of any Default or Event of Default;
(b) any (i) default or event of default under any Contractual Obligation of a Borrower or any
of its Subsidiaries or (ii) litigation, investigation or proceeding which may exist at any time
between a Borrower or any of its Subsidiaries and any Governmental Authority, that in either case,
if not cured or if adversely determined, as the case may be, would reasonably be expected to have a
Material Adverse Effect;
(c) any litigation or proceeding against a Borrower or any of its Subsidiaries (i) in which
the amount involved is $3,000,000 or more and not covered by independent third-party insurance,
(ii) in which injunctive or similar relief is sought or (iii) which relates to any Loan Document;
(d) the following events, as soon as possible and in any event within 5 days after any
Borrower knows or has reason to know thereof: (i) the occurrence of any Reportable Event with
respect to any Plan, a failure to make any required contribution to a Plan, the creation of any
Lien on the assets of a Borrower or any Commonly Controlled Entity in favor of the PBGC or a Plan
or any withdrawal from, or the termination, Reorganization or Insolvency of, any Multiemployer Plan
or (ii) the institution of proceedings or the taking of any other action by the PBGC or a Borrower
or any Commonly Controlled Entity or any Multiemployer Plan with respect to the withdrawal from, or
the termination, Reorganization or Insolvency of, any Plan;
(e) as soon as possible and in any event within 30 days of obtaining knowledge thereof: (i)
any development, event, or condition that, individually or in the aggregate with other
developments, events or conditions, would reasonably be expected to result in the payment by the
Borrowers and their Subsidiaries, in the aggregate, of a Material Environmental Amount; and (ii)
any notice that any Governmental Authority may deny any application for an Environmental Permit
sought by, or revoke or refuse to renew any Environmental Permit held by, any Borrower or any of
its Subsidiaries, which denial, revocation or refusal would reasonably be expected to materially
impact any Borrower or any of its Subsidiaries;
(f) any material amendment, modification, supplement or waiver to the La Xxxxxx Management
Agreement (unless the La Xxxxxx Termination Condition has been satisfied); provided that,
it is understood and agreed that a reduction in amounts payable to MAPCO Express under the La
Xxxxxx Management Agreement will not constitute a material amendment, modification, supplement or
waiver to the La Xxxxxx Management Agreement, unless such amounts payable to MAPCO Express are less
than the amounts payable to MAPCO Express as of the First Amendment Effective Date; and
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(g) any development or event that has had or would reasonably be expected to have a Material
Adverse Effect.
Each notice pursuant to this Section shall be accompanied by a statement of a Responsible Officer
of the related Borrower setting forth details of the occurrence referred to therein and stating
what action such Borrower or the relevant Subsidiary proposes to take with respect thereto.
6.8 Environmental Laws. (a) Comply in all material respects with, and ensure compliance in all material respects
by all tenants and subtenants, if any, with, all applicable Environmental Laws, and obtain and
comply in all material respects with and maintain, and use reasonable efforts to ensure that all
tenants and subtenants obtain and comply in all material respects with and maintain, any and all
licenses, approvals, notifications, registrations or permits required by applicable Environmental
Laws. Noncompliance with any of the foregoing shall be deemed not to constitute a breach of this
Section 6.8(a); provided that, upon learning of such noncompliance or suspected noncompliance, the
Borrower shall promptly undertake reasonable efforts to achieve compliance, and provided further
that, such noncompliance and any other noncompliance would not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.
(b) Conduct and complete all investigations, studies, sampling and testing, and all remedial,
removal and other actions required under applicable Environmental Laws and promptly comply in all
material respects with all lawful orders and directives of all Governmental Authorities regarding
Environmental Laws.
(c) Generate, use, treat, store, release, dispose of, and otherwise manage Materials of
Environmental Concern in a manner that would not reasonably be expected to result in a material
liability to any of the Borrowers or any of their Subsidiaries or to materially affect any real
property owned or leased by any of them; and use reasonable efforts to prevent any other Person
from generating, using, treating, storing, releasing, disposing of, or otherwise managing Materials
of Environmental Concern in a manner that would reasonably be expected to result in a material
liability to, or materially affect any real property owned or operated by, any of the Borrowers or
any of their Subsidiaries. Noncompliance with any of the foregoing shall be deemed not to
constitute a breach of this Section 6.8(c); provided that, upon learning of such
noncompliance or suspected noncompliance, the Borrower shall promptly undertake reasonable efforts
to achieve compliance, and provided further that, such noncompliance and any other
noncompliance would not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect.
6.9 Intentionally Omitted.
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6.10 Additional Collateral, etc. (a) With respect to any Property acquired after the First Amendment Effective Date by any
Borrower or any of its Subsidiaries (other than (w) any real property or any Property
described in paragraph (c) of this Section, (x) vehicles or any Property subject to a Lien
expressly permitted by Section 7.3(g), (y) Property acquired by an Excluded Foreign Subsidiary and
(z) any Excluded Collateral (as such term is defined in the Guarantee and Collateral Agreement)) as
to which the Administrative Agent, for the benefit of the Secured Parties, does not have a
perfected Lien, promptly (i) execute and deliver to the Administrative Agent such amendments to the
Guarantee and Collateral Agreement or such other documents as the Administrative Agent deems
necessary or advisable to grant to the Administrative Agent, for the benefit of the Secured
Parties, a security interest in such Property and (ii) take all actions necessary or advisable to
grant to the Administrative Agent, for the benefit of the Secured Parties, a perfected first
priority security interest in such Property (other than Deposit Accounts, unless otherwise
requested to take such action by the Administrative Agent, in its sole reasonable discretion),
including without limitation, the filing of Uniform Commercial Code financing statements in such
jurisdictions as may be required by the Guarantee and Collateral Agreement or by law or as may be
requested by the Administrative Agent.
(b) With respect to (i) any fee interest in any real property having an aggregate appraised
value (together with improvements thereof) of at least $1,000,000 acquired in one or a series of
transactions after the First Amendment Effective Date by any Borrower or any of its Subsidiaries
(including any such real property owned by any new Subsidiary acquired after the First Amendment
Effective Date and excluding any such real property owned by an Excluded Foreign Subsidiary or
subject to a Lien expressly permitted by Section 7.3(g)) or (ii) subject to the related Loan Party
obtaining the required landlord consent (provided that, each Loan Party shall use
commercially reasonable efforts to obtain such consent), any leasehold interest in any real
property having an aggregate appraised value of at least $1,000,000 acquired or leased (including
any leasehold property interest owned by any new Subsidiary acquired after the First Amendment
Effective Date) in one or a series of transactions after the First Amendment Effective Date by any
Borrower or any of its Subsidiaries, promptly (1) execute and deliver a first priority Mortgage in
favor of the Administrative Agent, for the benefit of the Secured Parties, covering such real
property, (2) deliver to the Administrative Agent an appraisal of such real property from a firm
reasonably satisfactory to the Administrative Agent, (3) if requested by the Administrative Agent,
provide the Lenders with (x) title and extended coverage insurance covering such real property in
an amount at least equal to the purchase price of such real property as well as a current ALTA
survey thereof, together with a surveyor’s certificate and (y) any consents, waivers or estoppels
reasonably deemed necessary or advisable by the Administrative Agent in connection with such
Mortgage, each of the foregoing in form and substance reasonably satisfactory to the Administrative
Agent and (4) if requested by the Administrative Agent, deliver to the Administrative Agent legal
opinions relating to the matters described above, which opinions shall be in form and substance,
and from counsel, reasonably satisfactory to the Administrative Agent. Notwithstanding anything to
the contrary contained in this Section 6.10(b), (i) in the event that the Borrower is required to
obtain flood insurance for any parcel of real property owned in fee with an aggregate appraised
value of less than $2,000,000 or a leasehold interest in any real property with an aggregate
appraised value of less than $2,000,000 which would otherwise be subject to the requirements of
this Section 6.10(b) and the Borrower believes the premiums for such flood insurance to be
uneconomical, subject to the following clause (ii), at the Borrower’s written request, the
Administrative Agent shall waive the Borrower’s compliance with this Section 6.10(b) to the extent
permitted by applicable law (including, without limitation, any bank regulatory law or
regulations), provided that, the
Borrower has provided the Administrative Agent satisfactory support for such determination,
and (ii) the aggregate appraised value of real property either owned in fee or subject to a
leasehold interest excluded from the provisions of this Section 6.10(b) may not at any time exceed
an amount equal to 2% of the total asset value of the Borrower and its Subsidiaries. The
Borrowers shall not be required to deliver a Mortgage covering any Exempt Property.
67
(c) With respect to any new Subsidiary (other than an Excluded Foreign Subsidiary or a Joint
Venture that is a Subsidiary) created or acquired after the First Amendment Effective Date (which,
for the purposes of this paragraph, shall include any existing Subsidiary that ceases to be an
Excluded Foreign Subsidiary), by any Borrower or any of its Subsidiaries, promptly (i) execute and
deliver to the Administrative Agent such amendments to the Guarantee and Collateral Agreement as
the Administrative Agent deems necessary or advisable to grant to the Administrative Agent, for the
benefit of the Secured Parties, a perfected first priority security interest in the Capital Stock
of such new Subsidiary that is owned by any Borrower or any of its Subsidiaries, (ii) deliver to
the Administrative Agent the certificates representing such Capital Stock, together with undated
stock powers, in blank, executed and delivered by a duly authorized officer of such Borrower or
such Subsidiary, as the case may be, (iii) cause such new Subsidiary (A) to become a party to the
Guarantee and Collateral Agreement and (B) to take such actions necessary or advisable to grant to
the Administrative Agent for the benefit of the Secured Parties a perfected first priority security
interest in the Collateral described in the Guarantee and Collateral Agreement with respect to such
new Subsidiary, including, without limitation, the filing of Uniform Commercial Code financing
statements in such jurisdictions as may be required by the Guarantee and Collateral Agreement or by
law or as may be requested by the Administrative Agent, and (iv) if requested by the Administrative
Agent, deliver to the Administrative Agent legal opinions relating to the matters described above,
which opinions shall be in form and substance, and from counsel, reasonably satisfactory to the
Administrative Agent.
(d) With respect to any new Excluded Foreign Subsidiary created or acquired after the First
Amendment Effective Date by any Borrower or any of its Subsidiaries (other than any Excluded
Foreign Subsidiaries), promptly (i) execute and deliver to the Administrative Agent such amendments
to the Guarantee and Collateral Agreement or such other documents as the Administrative Agent deems
necessary or advisable in order to grant to the Administrative Agent, for the benefit of the
Secured Parties, a perfected first priority security interest in the Capital Stock of such new
Subsidiary that is owned by such Borrower or any of its Subsidiaries (other than any Excluded
Foreign Subsidiaries), (provided that in no event shall more than 65% of the total
outstanding Capital Stock of any such new Excluded Foreign Subsidiary be required to be so
pledged), (ii) deliver to the Administrative Agent the certificates representing such Capital
Stock, together with undated stock powers, in blank, executed and delivered by a duly authorized
officer of such Borrower or such Subsidiary, as the case may be, and take such other action as may
be necessary or, in the opinion of the Administrative Agent, desirable to perfect the Lien of the
Administrative Agent thereon, and (iii) if requested by the Administrative Agent, deliver to the
Administrative Agent legal opinions relating to the matters described above, which opinions shall
be in form and substance, and from counsel, reasonably satisfactory to the Administrative Agent.
68
(e) The Borrowers shall use commercially reasonable efforts to deliver or cause to be
delivered, and shall cause each other Loan Party to use commercially reasonable efforts to deliver
or cause to be delivered, within sixty (60) days after the First Amendment Effective Date (or such
longer period of time as the Administrative Agent may agree to in its sole discretion) (such
sixtieth day (or the last day of a longer period agreed to by the Administrative Agent), the
“Required Delivery Date”), Control Agreements executed by each depository, securities
intermediary or commodities intermediary that maintains a Concentration Account with respect to
each Concentration Account of the Loan Parties as of or after the First Amendment Effective Date.
If a depository, securities intermediary or commodities intermediary fails to so deliver a Control
Agreement, then, within sixty (60) days following the date that is the earlier of the date the
determination is made that such depository, securities intermediary or commodities intermediary
will not deliver a Control Agreement and the Required Delivery Date (or such longer period of time
as the Administrative Agent may agree to in its sole discretion), the Borrowers shall close such
Concentration Account and open a similar account (x) at Fifth Third, in the event Fifth Third
maintains a depository branch that is located near or in the vicinity of the financial institution
where the Concentration Account being moved is located (as determined by the Borrowers in their
reasonable judgment) (such location, a “Convenient Location”), or (y) in the event Fifth
Third does not maintain a depository branch in a Convenient Location, at any other financial
institution that is reasonably acceptable to the Administrative Agent and the Borrowers and is
located in a Convenient Location that will deliver a Control Agreement. If the Loan Parties have
used commercially reasonable efforts to locate a financial institution that maintains a depository
branch in a Convenient Location with respect to a Concentration Account required to be closed and
is unable to do so, then the Loan Parties shall not be required to close such Concentration
Account. In the event the Loan Parties open any additional concentration or centralized collection
accounts after the First Amendment Effective Date, such Loan Parties shall use commercially
reasonable efforts to open such accounts (x) at Fifth Third, in the event Fifth Third maintains a
depository branch in a Convenient Location, or (y) in the event Fifth Third does not maintain a
depository branch in a Convenient Location, at any financial institution that is reasonably
acceptable to the Administrative Agent and the Borrowers and is located in a Convenient Location
that will deliver a Control Agreement.
6.11 Further Assurances. From time to time execute and deliver, or cause to be executed and delivered, such
additional instruments, certificates or documents, and take such actions, as the Administrative
Agent may reasonably request for the purposes of implementing or effectuating the provisions of
this Agreement and the other Loan Documents, or of more fully perfecting or renewing the rights of
the Administrative Agent and the Lenders with respect to the Collateral (or with respect to any
additions thereto or replacements or proceeds thereof or with respect to any other property or
assets hereafter acquired by the Borrowers or any Subsidiary which may be deemed to be part of the
Collateral) pursuant hereto or thereto. Upon the exercise by the Administrative Agent or any
Lender of any power, right, privilege or remedy pursuant to this Agreement or the other Loan
Documents which requires any consent, approval, recording, qualification or authorization of any
Governmental Authority, the Borrowers will execute and deliver, or will cause the execution and
delivery of, all applications, certifications, instruments and other documents and papers that the
Administrative Agent or such Lender may be required to obtain from the Borrowers or any of
their Subsidiaries for such governmental consent, approval, recording, qualification or
authorization.
69
6.12 Interest Rate Protection. Within one hundred twenty (120) days of the First Amendment Effective Date, the Borrowers
shall enter into, and thereafter maintain, Hedging Agreements providing protection against
fluctuations in interest rates with one or more financial institutions with respect to at least 50%
of the aggregate outstanding principal balance of Revolving Credit Loans on the First Amendment
Effective Date, which agreements shall provide for not less than a three (3) year term and
containing such other terms as are customary and are reasonably satisfactory to the Administrative
Agent.
SECTION 7. NEGATIVE COVENANTS
Each Borrower hereby jointly and severally agrees that, so long as the Commitments remain in
effect, any Letter of Credit remains outstanding or any Loan or other amount is owing to any Lender
or any Agent hereunder, each Borrower shall not, and shall not permit any of its Subsidiaries to
(and shall not suffer or permit any Joint Venture which is less than fifty percent (50%) owned by
the Borrower or any of its Subsidiaries, if the Borrower or such Subsidiary is a general partner,
or treated as a general partner, of such Joint Venture resulting in general liability to the
Borrower or such Subsidiary, to), directly or indirectly:
7.1 Financial Condition Covenants.
(a) Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio as of the
last day of any period of four consecutive fiscal quarters of the Borrowers ending with any fiscal
quarter set forth below to exceed the ratio set forth below opposite such fiscal quarter:
|
|
|
|
|
|
|
Consolidated |
|
Fiscal Quarter |
|
Leverage Ratio |
|
|
|
|
|
|
FQ1 2011 |
|
|
3.60 to 1.00 |
|
FQ2 2011 |
|
|
3.60 to 1.00 |
|
FQ3 2011 |
|
|
3.60 to 1.00 |
|
FQ4 2011 |
|
|
3.60 to 1.00 |
|
FQ1 2012 |
|
|
3.60 to 1.00 |
|
FQ2 2012 |
|
|
3.50 to 1.00 |
|
FQ3 2012 |
|
|
3.50 to 1.00 |
|
FQ4 2012 |
|
|
3.50 to 1.00 |
|
FQ1 2013 |
|
|
3.50 to 1.00 |
|
FQ2 2013 |
|
|
3.50 to 1.00 |
|
FQ3 2013 |
|
|
3.50 to 1.00 |
|
FQ4 2013 |
|
|
3.40 to 1.00 |
|
FQ1 2014 |
|
|
3.40 to 1.00 |
|
FQ2 2014 |
|
|
3.40 to 1.00 |
|
FQ3 2014 |
|
|
3.40 to 1.00 |
|
FQ4 2014 |
|
|
3.25 to 1.00 |
|
FQ1 2015 |
|
|
3.25 to 1.00 |
|
FQ2 2015 and thereafter |
|
|
3.00 to 1.00 |
|
70
(b) Intentionally Omitted.
(c) Consolidated Fixed Charge Coverage Ratio. Permit the Consolidated Fixed Charge
Coverage Ratio for any period of four consecutive fiscal quarters of the Borrowers ending with any
fiscal quarter set forth below to be less than the ratio set forth below opposite such fiscal
quarter:
|
|
|
|
|
|
|
Consolidated Fixed Charge |
|
Fiscal Quarter |
|
Coverage Ratio |
|
FQ1 2011 and thereafter
|
|
|
1.25 to 1.00 |
|
(d) Consolidated Adjusted Leverage Ratio. Permit the Consolidated Adjusted Leverage
Ratio as of the last day of any period of four consecutive fiscal quarters of the Borrowers ending
with any fiscal quarter set forth below to exceed the ratio set forth below opposite such fiscal
quarter:
|
|
|
|
|
|
|
Consolidated Adjusted Leverage |
|
Fiscal Quarter |
|
Ratio |
|
|
FQ1 2011 |
|
|
4.75 to 1.00 |
|
FQ2 2011 |
|
|
4.75 to 1.00 |
|
FQ3 2011 |
|
|
4.75 to 1.00 |
|
FQ4 2011 |
|
|
4.75 to 1.00 |
|
FQ1 2012 |
|
|
4.75 to 1.00 |
|
FQ2 2012 |
|
|
4.75 to 1.00 |
|
FQ3 2012 |
|
|
4.75 to 1.00 |
|
FQ4 2012 |
|
|
4.75 to 1.00 |
|
FQ1 2013 |
|
|
4.75 to 1.00 |
|
FQ2 2013 |
|
|
4.75 to 1.00 |
|
FQ3 2013 |
|
|
4.75 to 1.00 |
|
FQ4 2013 |
|
|
4.75 to 1.00 |
|
FQ1 2014 |
|
|
4.75 to 1.00 |
|
FQ2 2014 |
|
|
4.75 to 1.00 |
|
FQ3 2014 |
|
|
4.75 to 1.00 |
|
FQ4 2014 |
|
|
4.50 to 1.00 |
|
FQ1 2015 |
|
|
4.50 to 1.00 |
|
FQ2 2015 and thereafter |
|
|
4.25 to 1.00 |
|
7.2 Limitation on Indebtedness. Create, incur, assume or suffer to exist any Indebtedness, except:
(a) Indebtedness of any Loan Party pursuant to any Loan Document;
71
(b) Indebtedness of any Borrower to any other Borrower or any of their Wholly Owned
Subsidiaries that are Loan Parties and of any Wholly Owned Subsidiary Guarantor to the Borrowers or
any other Wholly Owned Subsidiary that are Loan Parties;
(c) Indebtedness (including, without limitation, purchase money Indebtedness and Capital Lease
Obligations, other than purchase money Indebtedness and Capital Lease Obligations set forth on
Schedule 7.2) secured by Liens permitted by Section 7.3(g) in an aggregate principal amount not to
exceed $7,500,000 at any one time outstanding;
(d) Guarantee Obligations arising with respect to customary indemnification obligations in
favor of purchasers in connection with Dispositions permitted under Section 7.5;
(e) Guarantee Obligations made in the ordinary course of business by the Borrowers or any of
their Subsidiaries of obligations of any Borrower or any Subsidiary Guarantor, which obligations
are otherwise permitted hereunder; provided that if such obligation is subordinated to the
Obligations, such guarantee shall be subordinated to the same extent;
(f) Guarantee Obligations incurred in the ordinary course of business with respect to surety
and appeals bonds, performance bonds and other similar obligations;
(g) Additional unsecured Indebtedness of the Borrowers or any of their Subsidiaries in an
aggregate principal amount (for the Borrowers and all their Subsidiaries) not to exceed $7,500,000
at any one time outstanding;
(h) Additional Indebtedness of the Borrowers or any of their Subsidiaries in an aggregate
principal amount (for the Borrowers and all their Subsidiaries) not to exceed $7,500,000 at any one
time outstanding;
(i) Indebtedness consisting of unpaid insurance premiums (not in excess of one (1) years’
premiums) owing to insurance companies and insurance brokers incurred in connection with the
financing of insurance premiums in the ordinary course of business;
(j) Indebtedness in respect of netting services, overdraft protections and other like
services, in each case incurred in the ordinary course of business;
(k) Indebtedness of the Borrower and its Subsidiaries in respect of Capital Lease Obligations
incurred in a sale and leaseback transaction permitted by Section 7.10;
(l) purchase money Indebtedness and Capital Lease Obligations existing on the First Amendment
Effective Date and set forth in Schedule 7.2;
(m) unsecured intercompany Indebtedness permitted pursuant to Section 7.8(f); and
(n) purchase money Indebtedness incurred by a Joint Venture secured by Liens permitted by
Section 7.3(l); provided, that, such Indebtedness shall be non-recourse to the Joint Venture.
72
7.3 Limitation on Liens. Create, incur, assume or suffer to exist any Lien upon any of its Property, whether now
owned or hereafter acquired, except for:
(a) Liens for taxes, assessments, charges and/or other governmental levies that are not past
due or remain payable without penalty, or that are being contested in good faith by appropriate
proceedings, provided that adequate reserves with respect thereto are maintained on the
books of the relevant Borrower or its Subsidiaries, as the case may be, in conformity with GAAP;
(b) Carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, landlord’s or other
like Liens arising in the ordinary course of business that are not overdue for a period of more
than 45 days or that are being contested in good faith by appropriate proceedings;
(c) Pledges or deposits in connection with workers’ compensation, unemployment insurance and
other social security legislation;
(d) Deposits to secure the performance of bids, trade contracts (other than for borrowed
money), leases, statutory obligations, surety and appeal bonds, performance bonds and other
obligations of a like nature incurred in the ordinary course of business;
(e) Easements, rights-of-way, restrictions and other similar non-monetary encumbrances which
(x) with respect to Liens created on or prior to the First Amendment Effective Date, do not
materially detract from the value of the Property subject thereto as used in the business of the
Borrowers or any of their Subsidiaries or do not materially interfere with the ordinary conduct of
the business of the Borrowers or any of their Subsidiaries, and (y) with respect Liens created
after the First Amendment Effective Date, are incurred in the ordinary course of business that do
not in any case materially detract from the value of the Property subject thereto as used in the
business of the Borrowers or any of their Subsidiaries or do not materially interfere with the
ordinary conduct of the business of the Borrowers or any of their Subsidiaries;
(f) Liens in existence on the date hereof listed on Schedule 7.3(f), securing
Indebtedness permitted by Section 7.2(l), provided that no such Lien is spread to cover any
additional Property after the First Amendment Effective Date and that the amount of Indebtedness
secured thereby is not increased;
(g) Liens securing Indebtedness of the Borrowers or any of their Subsidiaries incurred
pursuant to Section 7.2(c) to finance the acquisition of fixed or capital assets, provided
that (i) such Liens shall be created substantially simultaneously with the acquisition of such
fixed or capital assets, (ii) such Liens do not at any time encumber any Property other than the
Property financed by such Indebtedness, (iii) the amount of Indebtedness secured thereby is not
increased and (iv) the amount of Indebtedness initially secured thereby is not less than 80%,
or more than 100% of the purchase price of such fixed or capital asset;
(h) Liens created pursuant to the Security Documents;
73
(i) Any interest or title of a lessor under any lease or a sublessor under any sublease
entered into by a Borrower or any Subsidiary in the ordinary course of its business and covering
only the assets so leased;
(j) Liens securing the obligations of the Borrowers and their Subsidiaries in respect of Hedge
Agreements (i) entered into to hedge against fluctuations in the price of fuel in the ordinary
course of business and not for speculative purposes that have been disclosed to the Administrative
Agent, provided that, such Liens shall only consist of deposits of cash and Cash
Equivalents by the Borrowers and their Subsidiaries in an aggregate amount not exceeding $7,000,000
at any one time and (ii) pursuant to Section 6.12;
(k) Liens not otherwise permitted by this Section 7.3 so long as neither (i) the aggregate
outstanding principal amount of the obligations secured thereby nor (ii) the aggregate fair market
value (determined, in the case of each such Lien, as of the date such Lien is incurred) of the
assets subject thereto exceeds (as to the Borrowers and all their Subsidiaries) $10,000,000 at any
one time;
(l) Liens securing Indebtedness of a Joint Venture (to the extent such Joint Venture is not a
Subsidiary) incurred pursuant to Section 7.2(n) to finance the acquisition by the Joint Venture of
a Build to Suit Leased Location, provided that (i) such Liens do not at any time encumber
any Property other than the Build to Suit Leased Location and any equipment located thereon and
used in connection therewith financed by such Indebtedness, (ii) the amount of Indebtedness secured
thereby is not increased and (iii) the amount of Indebtedness initially secured thereby is not less
than 80% or more than 100% of the purchase price of such Build to Suit Leased Location; and
(m) Liens on assets that are the subject of any sale and leaseback transaction permitted by
Section 7.10.
7.4 Limitation on Fundamental Changes. Enter into any merger, consolidation or amalgamation, or liquidate, wind up or dissolve
itself (or suffer any liquidation or dissolution), or Dispose of all or substantially all of its
Property or business, except that:
(a) any Subsidiary of the Borrowers (other than a Joint Venture) may be merged or consolidated
with or into a Borrower (provided that a Borrower shall be the continuing or surviving
corporation) or with or into any Wholly Owned Subsidiary Guarantor (provided that (i) the
Wholly Owned Subsidiary Guarantor shall be the continuing or surviving corporation or (ii)
simultaneously with such transaction, the continuing or surviving corporation shall become a Wholly
Owned Subsidiary Guarantor and the relevant Borrower shall comply with Section 6.10 in connection
therewith); and
(b) any Subsidiary of the Borrowers may Dispose of any or all of its assets (upon voluntary
liquidation or otherwise) to a Borrower or any Subsidiary Guarantor.
7.5 Limitation on Disposition of Property. Dispose of any of its Property (including, without limitation, receivables and leasehold
interests), whether now owned or hereafter acquired, or, in the case of any Subsidiary, issue or
sell any shares of such Subsidiary’s Capital Stock to any Person, except:
(a) the Disposition of obsolete or worn out Property in the ordinary course of business;
(b) the sale of inventory in the ordinary course of business;
74
(c) dispositions permitted by Section 7.4(b);
(d) the sale or issuance of any Subsidiary’s Capital Stock to a Borrower or any Subsidiary
Guarantor;
(e) the Disposition of other assets having a fair market value not to exceed $10,000,000 in
the aggregate for any fiscal year of the Borrowers, provided, that, the fair market value of all
fee or leased real property disposed of in any fiscal year pursuant to this Section 7.5(e) shall
not exceed $5,000,000 in the aggregate;
(f) in connection with any Recovery Event;
(g) Sale and leaseback transactions permitted by Section 7.10;
(h) Dispositions of fee owned or leased real Property interests of the Borrowers or any of
their Subsidiaries (other than Dispositions of Surplus Growth Capital Expenditures) not otherwise
permitted hereunder which are made for fair market value; provided, that (i) at the time of
any Disposition, no Event of Default shall exist or shall result from such Disposition, (ii) one
hundred percent (100%) of the aggregate sales price from such Disposition shall be paid in cash or
Cash Equivalents, (iii) such Dispositions shall yield (either individually or collectively in a
series of related Dispositions that shall occur within any six month period) Total Consideration of
at least six times the amount of Consolidated EBITDA generated by such real Property interests
during any twelve (12) month period ending on or after the date which is nine (9) months prior to
the date of such Disposition or, with respect to a series of related Dispositions, prior to the
date of the first Disposition of such series (calculated on an aggregate basis for all such real
Property interests that are part of the same or a related series of Dispositions occurring within
any six month period, pursuant to one or more binding purchase agreements, which may involve
different purchasers), as certified by a Responsible Officer, and accompanied by a Compliance
Certificate containing all information and calculations necessary for determining the same; and
(iv) the aggregate fair market value of all fee owned or leased real Property interests so sold by
the Borrowers and their Subsidiaries, collectively, shall not exceed (x) $15,000,000 in any Fiscal
Year of the Borrowers and (y) $60,000,000 at all time from and after the First Amendment Effective
Date;
(i) Dispositions of personal Property, plant and equipment associated with the fee owned or
leased real Property disposed of pursuant to Section 7.5(h) that are made for fair market value;
provided, that (i) at the time of any Disposition, no Event of Default shall exist or shall
result from such Disposition, and (ii) one hundred percent (100%) of the aggregate sales price from
such Disposition shall be paid in cash or Cash Equivalents;
(j) licenses, sublicenses, leases or subleases granted to third parties not interfering with
the business of the Loan Parties or any of their Subsidiaries in any material respect (but
specifically excluding any sale-leaseback transaction or any lease of real Property);
75
(k) lapse, abandonment or other dispositions of intellectual property that is, in the
reasonable good faith judgment of a Loan Party, no longer economically practicable or commercially
desirable to maintain or useful in the conduct of the business of the Loan Parties or any of their
Subsidiaries;
(l) settlement of delinquent Accounts in the ordinary course of business or in connection with
the bankruptcy or reorganization of suppliers or customers;
(m) transactions expressly permitted pursuant to Section 7.8 hereof;
(n) any involuntary loss, damage or destruction of Property, including, without limitation,
condemnation, seizure and eminent domain;
(o) the sale or issuance of Capital Stock of Holdings or Mapco Express that does not result in
a Change of Control;
(p) transfers of Property to a Joint Venture in connection with a Build to Suit Project,
provided (x) the aggregate fair market value of all assets so transferred with respect to all Joint
Ventures shall not exceed $5,000,000 reduced by the aggregate amount of all Investments made
pursuant to Section 7.8(l) (including, without limitation, all cash Investments and all Capital
Expenditures expended by the Borrowers and their Subsidiaries at or with respect to all Build to
Suit Leased Locations owned by Joint Ventures), and (y) the aggregate fair market value of all
assets transferred to a Joint Venture in connection with each individual Build to Suit Project
shall not exceed $1,500,000 reduced by the aggregate amount of all Investments made with respect to
such Build to Suit Project pursuant to Section 7.8(l) (including, without limitation, all cash
Investments and all Capital Expenditures expended by the Borrowers and their Subsidiaries at or
with respect to such Build to Suit Leased Location owned by a Joint Venture);
(q) to the extent constituting a Disposition of Property, Liens permitted pursuant to Section
7.3; and
(r) Dispositions of Surplus Growth Capital Expenditures which are sold for fair market value,
provided, that (i) one hundred percent (100%) of the aggregate sales price from such
Disposition shall be paid in cash or Cash Equivalents, (ii) the Surplus Growth Capital Expenditures
are Disposed of within twenty four (24) months following the date such Surplus Growth Capital
Expenditures were made and (iii) the aggregate fair market value of all Surplus Growth Capital
Expenditures permitted to be Disposed of by the Borrowers and their
Subsidiaries, collectively, shall not exceed $9,000,000 in any fiscal year of the Borrowers;
provided, further, that, no more than $3,000,000 of the Surplus Growth Capital Expenditures
disposed of in any fiscal year in accordance with the forgoing shall be attributable to Surplus
Growth Capital Expenditures made in any fiscal year and any Surplus Growth Capital Expenditures
made in any fiscal year in excess of $3,000,000 may not be Disposed of by the Borrowers and their
Subsidiaries (for purposes of illustration only, if the Loan Parties made Surplus Growth Capital
Expenditures of (x) $5,000,000 on June 30, 2011, (y) $0.00 in the fiscal year ending December 31,
2012 and (z) $3,000,000 on April 30, 2013, and none of such Surplus Growth Capital Expenditures
have been Disposed of as of April 30 2013, then the Loan Parties would be permitted to Dispose of
$6,000,000 of Surplus Capital Expenditures during the fiscal year ending December 31, 2013, which
would represent $3,000,000 of the Surplus Capital Expenditures made on June 30, 2011 and $3,000,000
of the Surplus Capital Expenditures made on April 30, 2013).
76
7.6 Limitation on Restricted Payments. Declare or pay any dividend on, or make any payment on account of, or set apart assets for
a sinking or other analogous fund for, the purchase, redemption, defeasance, retirement or other
acquisition of, any Capital Stock of a Borrower or any Subsidiary, whether now or hereafter
outstanding, or make any other distribution in respect thereof, either directly or indirectly,
whether in cash or Property or in obligations of a Borrower or any Subsidiary, or enter into any
derivatives or other transaction with any financial institution, commodities or stock exchange or
clearinghouse (a “Derivatives Counterparty”) obligating any Borrower or any Subsidiary to
make payments to such Derivatives Counterparty as a result of any change in market value of any
such Capital Stock (collectively, “Restricted Payments”), except that:
(a) Any Subsidiary of the Borrowers may make Restricted Payments to the Borrowers or any
Subsidiary Guarantor (and any Joint Venture may declare and pay dividends on not less than a pro
rata basis to a Borrower or a Subsidiary of a Borrower, as the case may be, and otherwise to other
joint venture interest holders of such Joint Venture);
(b) Any Borrower may make Restricted Payments in the form of its common stock;
(c) The Borrowers may pay dividends to Holdings to permit Holdings to (i) pay corporate
overhead expenses incurred in the ordinary course of business not to exceed $1,500,000 in the
aggregate in any fiscal year and (ii) subject to the Tax Sharing Agreement, pay any taxes which are
due and payable by Holdings attributable to the Borrowers and their Subsidiaries as part of a
consolidated group;
(d) (i) Mapco Express may make, on the First Amendment Effective Date (or within thirty (30)
days thereafter), in one or more payments, the First Amendment Effective Date Dividend, provided
that, (A) no Default or Event of Default has occurred and is continuing or would arise as a result
of the making of any portion of First Amendment Effective Date Dividend, (B) the ratio of (x)
Consolidated Total Debt of the Loan Parties as of the date on which each portion of the First
Amendment Effective Date Dividend is made after giving effect to the consummation of the
transactions contemplated hereby (including, without limitation, the
making of the First Amendment Effective Date Dividend to be made on such date), payment of all
costs and expenses in connection therewith and the funding of the initial Loans (or, with respects
to portions of the First Amendment Effective Date Dividend made after the First Amendment Effective
Date, any Loans made on the date such portion of the First Amendment Effective Date Dividend is
made), to (y) Consolidated EBITDA of Mapco Express and its consolidated Subsidiaries for the
trailing twelve month period ended November 30, 2010 (or, with respect to a portion of the First
Amendment Effective Date Dividend made after the First Amendment Effective Date, for the twelve
month period ended November 30, 2010 or, if such financial statements are available, December 31,
2010) is not greater than 3.10 to 1.00, and (C) after giving effect to the making of any portion of
First Amendment Effective Date
77
Dividend, the aggregate Available Revolving Credit Commitments
exceeds $20,000,000 and (ii) in the event Mapco Express does not make all of the First Amendment
Effective Date Dividend pursuant to clause (i) of this Section 7.6(d) in an aggregate amount equal
to $15,000,000 within thirty days following the First Amendment Effective Date, the Borrowers may
make up to four (4) quarterly dividends to Holdings during the period commencing on May 1, 2011 and
ending on May 15, 2012 in an aggregate amount not to exceed the sum of $15,000,000 minus the
aggregate amount of the First Amendment Effective Date Dividend that was made by Mapco Express
pursuant to clause (i) of this Section 7.6(d) (such dividends are referred to herein as the
“Additional Dividends”), provided, that, (A) such Additional Dividends shall be made quarterly
during the period commencing on May 1, 2011 and ending on May 15, 2012 (x) no earlier than five (5)
Business Days after the date on which financial statements for March 31, 2011, June 30, 2011,
September 30, 2011 and December 31, 2011 have been timely received by the Administrative Agent
(such financial statements, the “7.5(d) Applicable Quarterly Financial Statements”), and
(y) no later than forty five (45) days following the date on which such 7.5(d) Applicable Quarterly
Financial Statements have been timely received by the Administrative Agent, (B) after giving effect
to such Additional Dividends, the Borrowers are in compliance on a pro forma basis with the
covenants set forth in Section 7.1, recomputed using the 7.5(d) Applicable Quarterly Financial
Statements and the Borrower shall have provided evidence to the Administrative Agent that the
Consolidated Leverage Ratio on a pro forma basis after giving effect to the applicable Additional
Dividend (and the incurrence of any Indebtedness in connection therewith), is not greater than .50x
less than the covenant then in effect pursuant to Section 7.1, and (C) no Default or Event of
Default has occurred and is continuing or would arise as a result of such Additional Dividend;
(e) In addition to Restricted Payments otherwise permitted in this Section 7.6, the Borrowers
may pay quarterly dividends to Holdings in an aggregate amount not to exceed $15,000,000 in any
trailing four quarter period, provided, that, (i) such Restricted Payments shall be made quarterly
(x) no earlier than five (5) Business Days after the date on which financial statements for the
most recent quarter then ended have been timely received by the Administrative Agent (such
financial statements, the “Applicable Quarterly Financial Statements”), and (y) no later than forty
five (45) days following the date on which such Applicable Quarterly Financial Statements have been
timely received by the Administrative Agent, (ii) after giving effect to such Restricted Payment,
the Borrower is in compliance on a pro forma basis with the covenants set forth in Section 7.1,
recomputed using the Applicable Quarterly Financial Statements and the Borrower shall have provided
evidence to the Administrative Agent that the Consolidated Leverage Ratio on a pro forma basis
after giving effect to the applicable Restricted Payment (and the incurrence of any Indebtedness in
connection therewith), is not greater than .50x less than the covenant then in effect pursuant
to Section 7.1, and (iii) no Default or Event of Default has occurred and is continuing or would
arise as a result of such Restricted Payment; and
(f) Mapco Express may make Restricted Payments in cash in respect of any Capital Stock issued
pursuant to a Management Stock Plan, provided that all of the following conditions are satisfied:
(i) no Default or Event of Default has occurred and is continuing or would arise as a result of
such Restricted Payment and (ii) the sum of the aggregate Restricted Payments permitted in any
fiscal year of the Loan Parties shall not exceed $500,000.
78
7.7 Limitation on Growth Capital Expenditures. Make or commit to make any Growth Capital Expenditure, except:
(a) during any fiscal year of the Borrowers, Growth Capital Expenditures of the Borrowers and
their Subsidiaries in an aggregate amount not in excess of the amount set forth opposite such
fiscal year below (with respect to each fiscal year, the “Growth Capital Expenditure
Limitation”):
|
|
|
|
|
|
|
Growth Capital Expenditure |
|
Fiscal Year |
|
Limitation |
|
Fiscal Year ending December 31, 2010 |
|
$ |
15,500,000 |
|
Fiscal Year ending December 31, 2011 |
|
$ |
41,500,000 |
|
Fiscal Year ending December 31, 2012 |
|
$ |
47,000,000 |
|
Fiscal Year ending December 31, 2013 |
|
$ |
54,000,000 |
|
Fiscal Year ending December 31, 2014 |
|
$ |
60,000,000 |
|
Fiscal Year ending December 31, 2015 and each Fiscal year ending thereafter |
|
$ |
31,000,000 |
|
provided, that, (i) up to 75% of any amount set forth in the grid above, if not
expended in the fiscal year for which it is permitted, may be carried over for expenditure in the
next succeeding fiscal year, and (ii) Growth Capital Expenditures made pursuant to clause (a)(i)
during any fiscal year shall be deemed made, first, in respect of amounts carried over from
the prior fiscal year pursuant to clause (i) above, and second, in respect of amounts
permitted for such fiscal year as provided above. In addition, if the Loan Parties (x) make a
Growth Capital Expenditure in accordance with the terms hereof in any fiscal year with the intent
to sell (at the time such expenditure is made) a portion of the Property included in such Growth
Capital Expenditure that is not necessary to the business of the Loan Parties (the Property that is
intended to be sold is referred to herein as “Surplus Growth Capital Expenditures”), and
(y) are permitted to sell (pursuant to Section 7.5(r) of this Agreement) and subsequently sell such
Surplus Growth Capital Expenditure within twenty four (24) months following the date on which the
Surplus Growth Capital Expenditure was originally made, then the Loan Parties shall be permitted to
increase the Growth Capital Expenditure Limitation for the fiscal year immediately succeeding the
fiscal year during which the Surplus Growth Capital Expenditure was sold in an aggregate amount
equal to the lesser of (1) the Net Cash Proceeds actually received by such Loan Parties in
connection with such sale and (2) the purchase price paid by the Loan Parties to acquire such
Surplus Growth Capital Expenditures, provided, that in no event shall the Growth Capital
Expenditure Limitation for any fiscal year be increased as a result of Dispositions of Surplus
Growth Capital Expenditures by more than $9,000,000.
(b) Growth Capital Expenditures made with the proceeds of any Recovery Event.
79
7.8 Limitation on Investments. Make any advance, loan, extension of credit (by way of guaranty or otherwise) or capital
contribution to, or purchase any Capital Stock, bonds, notes, debentures or other debt securities
of, or any assets constituting an ongoing business from, or make any other investment in, any other
Person (all of the foregoing, “Investments”), except:
(a) Extensions of trade credit in the ordinary course of business;
(b) Investments in Cash Equivalents;
(c) Investments arising in connection with the incurrence of Indebtedness permitted by Section
7.2(b) and (e);
(d) Loans and advances to employees of the Borrowers or any of their Subsidiaries in the
ordinary course of business (including, without limitation, for travel, entertainment and
relocation expenses) in an aggregate amount for the Borrowers and their Subsidiaries not to exceed
$500,000 at any one time outstanding and use of the residential real Property commonly known as 000
Xxxxx Xxxxx, Xxxxxxxxx, Xxxxxxxxx;
(e) Investments in assets otherwise permitted by Section 7.7 and all Maintenance Capital
Expenditures;
(f) Investments (other than those relating to the incurrence of Indebtedness permitted by
Section 7.8(c)) by the Borrowers or any of their Subsidiaries (other than Subsidiaries that are
Joint Ventures) in a Borrower or any Person that, prior to such Investment, is a Subsidiary
Guarantor;
(g) In addition to Investments otherwise expressly permitted by this Section,
Investments by the Borrower or any of its Subsidiaries (other than (x) Growth Capital Expenditures
and (y) Investments in Joint Ventures, which shall only be permitted to the extent set forth in
clause (l) of this Section 7.8) in an aggregate amount (valued at cost) not to exceed $50,000,000
at all times from and after the First Amendment Effective Date, which amount shall be increased
(effective, with respect to each increase in credit described in a Revolving Commitment Increase
Notice pursuant to Section 2.26, as of each Revolving Credit Increase Effective Date in respect of
such Revolving Commitment Increase Notice) proportionately by the percentage increase in the Total
Revolving Credit Commitment (as in effect on the First Amendment Effective Date) resulting from the
consummation of the increase in credit described in each Revolving Commitment Increase Notice;
provided, that with respect to any such Investment, (i) after giving pro
forma effect to such Investment, (x) the Consolidated Leverage Ratio shall be at least
0.25x less than the covenant then in effect pursuant to Section 7.1 and (y) the aggregate
Available Revolving Credit Commitments exceeds $25,000,000 and (ii) no Default or Event of Default
shall have occurred and be continuing immediately prior to or after giving effect to such
Investment;
(h) Investments acquired in connection with the settlement of delinquent Accounts in the
ordinary course of business or in connection with the bankruptcy or reorganization of an account
debtor;
(i) to the extent constituting Investments, deposits, prepayments and other credits to lessors
in connection with operating lease obligation made in the ordinary course of business and securing
contractual obligations of a Loan Party;
80
(j) Investments consisting of negotiable instruments held for collection in the ordinary course of
business;
(k) Investments received as the non-cash portion of consideration received in connection with
transactions permitted pursuant to Section 7.5(e);
(l) Investments in Joint Ventures (including, without limitation, cash Investments and Capital
Expenditures made in respect of Build to Suit Leased Locations owned by such Joint Ventures) in
connection with Build to Suit Projects, in an aggregate amount not to exceed $5,000,000 reduced by
the aggregate amount of all transfers of Property made pursuant to Section 7.5(p); provided, that,
(x) the aggregate Investment permitted in a Joint Venture in connection with each Build to Suit
Project shall not exceed $1,500,000 in cash reduced by (1) the aggregate amount of all transfers of
Property made with respect to such Build to Suit Project pursuant to Section 7.5(p) and (2) all
Capital Expenditures expended by the Borrowers and their Subsidiaries at or with respect to such
Build to Suit Leased Location (y) the percentage ownership interest held by a Borrower or a
Subsidiary of a Borrower in such Joint Venture shall be reasonably acceptable to the Required
Lenders; and
(m) Investments resulting from Hedge Agreements entered into to hedge against fluctuations in
the price of fuel in the ordinary course of business and not for speculative purposes that have
been disclosed to the Administrative Agent or pursuant to Section 6.12.
7.9 Limitation on Transactions with Affiliates. Enter into any transaction, including, without limitation, any purchase, sale, lease or
exchange of Property, the rendering of any service or the payment of any management, advisory or
similar fees, with any Affiliate (other than a Borrower or any Subsidiary Guarantor) unless such
transaction is (a) otherwise permitted under this Agreement, (b) in the ordinary course of business
of the Borrowers or their Subsidiaries, as the case may be, and (c) upon fair and reasonable terms
no less favorable to the Borrowers or their Subsidiaries, as the case may be, than it would obtain
in a comparable arm’s length transaction with a Person that is not an Affiliate.
7.10 Limitation on Sales and Leasebacks. Enter into or maintain any arrangement with any Person providing for the leasing by a
Borrower or any Subsidiary of real or personal Property which has been or is to be sold by a
Borrower or such Subsidiary to such Person or to any other Person to whom funds have been or are to
be advanced by such Person on the security of such Property or rental obligations of Holdings, a
Borrower or such Subsidiary, except that a Borrower or any of its Subsidiaries may enter into sale
and leaseback transactions if (i) the aggregate amount of Indebtedness incurred equal to the
Attributable Debt relating to all sale and leaseback transactions does not exceed $7,500,000 in the
aggregate outstanding at all times from and after the First Amendment Effective Date and (ii) the
Net Cash Proceeds of each sale and leaseback transaction are at least equal to the fair market
value of the Property that is the subject of such sale and leaseback transaction.
7.11 Limitation on Changes in Fiscal Periods. Permit the fiscal year of the Borrowers to end on a day other than December 31 or change
the Borrowers’ method of determining fiscal quarters.
81
7.12 Limitation on Negative Pledge Clauses. Enter into or suffer to exist or become effective any agreement that prohibits or limits
the ability of any Borrower or any of its Subsidiaries to create, incur, assume or suffer to exist
any Lien upon any of its Property or revenues, whether now owned or hereafter acquired, to secure
the Obligations or, in the case of any guarantor, its obligations under the Guarantee and
Collateral Agreement, other than (a) this Agreement and the other Loan Documents, (b) leases
existing on the date hereof which are not subject to a Mortgage and leases entered into after the
First Amendment Effective Date which are not required to be subject to a Mortgage in accordance to
Section 6.10(b), in either case, which require the relevant landlord’s approval to mortgage or
assign such lease and (c) any agreements governing any purchase money Liens, Capital Lease
Obligations or Liens otherwise permitted hereby (in which case, any prohibition or limitation shall
only be effective against the assets financed thereby).
7.13 Limitation on Restrictions on Subsidiary Distributions. Enter into or suffer to exist or become effective any consensual encumbrance or restriction
on the ability of any Subsidiary to (a) make Restricted Payments in respect of any Capital Stock of
such Subsidiary held by, or pay any Indebtedness owed to, any Borrower or any other Subsidiary, (b)
make Investments in any Borrower or any other Subsidiary or (c) transfer any of its assets to any
Borrower or any other Subsidiary, except for such encumbrances or restrictions existing under or by
reason of (i) any restrictions existing under the Loan Documents, (ii) any restrictions with
respect to a Subsidiary imposed pursuant to an agreement that has been entered into in connection
with the Disposition of all or substantially all of the Capital Stock or assets of such Subsidiary
and (iii) any document or instrument governing Liens permitted pursuant to Section 7.3 provided
that any such restriction contained therein relates only to the asset or assets subject to such
permitted Liens.
7.14 Limitation on Lines of Business. Enter into any business, either directly or through any Subsidiary, except for those
businesses in which the Borrowers and their Subsidiaries are engaged on the date of this Agreement
or that are reasonably related thereto.
7.15 Limitation on Amendments to Other Documents. (a) At any time prior to the satisfaction of the La Xxxxxx Termination Condition, amend,
supplement or otherwise modify (pursuant to a waiver or otherwise) the terms and conditions of the
La Xxxxxx Management Agreement, if applicable, in any manner that would decrease the amounts
payable to MAPCO Express thereunder as of the First Amendment Effective Date or to provide that
such amounts shall be payable on a subordinated basis to the La Xxxxxx Credit Facility, (b) amend,
supplement or otherwise modify (pursuant to a waiver or otherwise) the terms and conditions of the
Tax Sharing Agreement in any manner that would increase the amounts payable by the Borrowers
thereunder, (c) intentionally omitted or (d) otherwise amend, supplement or otherwise modify the
terms and conditions of the La Xxxxxx Management Agreement (unless the La Xxxxxx Termination
Condition has been satisfied), if applicable, or the Tax Sharing Agreement, in each case, except to
the extent that any such amendment, supplement or modification could not reasonably be expected to
have a Material Adverse Effect.
82
7.16 Limitation on Hedge Agreements. Enter into any Hedge Agreement other than (a) Hedge Agreements required hereunder and (b)
Hedge Agreements entered into in the ordinary course of business, and not for speculative purposes,
to protect against changes in interest rates, commodity prices or foreign exchange rates.
7.17 La Xxxxxx Management Agreement. Prior to the satisfaction of the La Xxxxxx Termination Condition, enter into any agreement
with the La Xxxxxx Affiliate in connection with the acquisition by the La Xxxxxx Affiliate and
Delek Pipeline Texas, Inc. of the La Xxxxxx refinery located in Tyler, Texas either providing for
(i) the payment of an annual management fee in an aggregate amount less than $1,500,000 or (ii) the
subordination of the management fee referred to in clause (i) to any payment under the La Xxxxxx
Credit Facility, provided that, the payment of such fee shall be made in equal quarterly
installments in arrears on March 31, June 30, September 30 and December 31 of each year.
7.18 Intentionally Omitted.
7.19 Intentionally Omitted.
7.20 Intentionally Omitted.
SECTION 8. EVENTS OF DEFAULT
If any of the following events shall occur and be continuing:
(a) The Borrowers shall fail to pay any principal of any Loan or Reimbursement
Obligation when due in accordance with the terms hereof; or the Borrowers shall fail to pay any
interest on any Loan or Reimbursement Obligation, or any other amount payable hereunder or under
any other Loan Document, within five (5) days after any such interest or other amount becomes due
in accordance with the terms hereof or thereof; or
(b) Any representation or warranty made or deemed made by any Loan Party herein or in any
other Loan Document or that is contained in any certificate, document or financial or other
statement furnished by it at any time under or in connection with this Agreement or any such other
Loan Document shall prove to have been inaccurate in any material respect on or as of the date made
or deemed made or furnished; or
(c) Any Loan Party shall default in the observance or performance of any agreement contained
in clause (i) or (ii) of Section 6.4(a) (with respect to the Borrowers only), Section 6.7(a) or
SECTION 7, or in Section 5 of the Guarantee and Collateral Agreement (other than Section 5.1 of the
Guarantee and Collateral Agreement); or
(d) Any Loan Party shall default in the observance or performance of any other agreement
contained in this Agreement or any other Loan Document (other than as provided in paragraphs (a)
through (c) of this Section), and such default shall continue unremedied (or is not otherwise
waived) for a period of 30 days after the earlier to occur of (i) the date upon which any Loan
Party becomes aware of such default and (ii) the date upon which written notice thereof is given to
the Borrowers by the Administrative Agent or the Required Lenders; or
83
(e) Any Borrower or any of its Subsidiaries (or any Joint Venture that is less than fifty percent
(50%) owned by the Borrower or any of its Subsidiaries, if the Borrower or such Subsidiary is a
general partner, or treated as a general partner, of such Joint Venture resulting in general
liability to the Borrower or such Subsidiary) shall (i) default in making any payment of any
principal of any Indebtedness (including, without limitation, any Guarantee Obligation, but
excluding the Loans and Reimbursement Obligations) on the scheduled or original due date with
respect thereto beyond the period of grace, if any, in the instrument or agreement under which such
Indebtedness was created; or (ii) default in making any payment of any interest on any such
Indebtedness beyond the period of grace, if any, provided in the instrument or agreement under
which such Indebtedness was created; or (iii) default in the observance or performance of any other
agreement or condition relating to any such Indebtedness or contained in any instrument or
agreement evidencing, securing or relating thereto, or any other event shall occur or condition
exist, the effect of which default or other event or condition is to cause, or to permit the holder
or beneficiary of such Indebtedness (or a trustee or agent on behalf of such holder or beneficiary)
to cause, with the giving of notice if required, such Indebtedness to become due prior to its
stated maturity or to become subject to a mandatory offer to purchase by the obligor thereunder or
(in the case of any such Indebtedness constituting a Guarantee Obligation) to become payable;
provided, that a default, event or condition described in clause (i), (ii) or (iii) of this
paragraph (e) shall not at any time constitute an Event of Default unless, at such time, one or
more defaults, events or conditions of the type described in clauses (i), (ii) and (iii) of this
paragraph (e) shall have occurred and be continuing with respect to Indebtedness the outstanding
principal amount of which exceeds in the aggregate $5,000,000; or
(f) (i) any Borrower or any of its Subsidiaries shall commence any case, proceeding or other
action (A) under any existing or future law of any jurisdiction, domestic or foreign, relating to
bankruptcy, insolvency, reorganization or relief of debtors, seeking to have an order for relief
entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking
reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other
relief with respect to it or its debts, or (B) seeking appointment of a receiver, trustee,
custodian, conservator or other similar official for it or for all or any substantial part of its
assets, or any Borrower or any of its Subsidiaries shall make a general assignment for the benefit
of its creditors; or (ii) there shall be commenced against any Borrower or any of its Subsidiaries
any case, proceeding or other action of a nature referred to in clause (i) above that (A) results
in the entry of an order for relief or any such adjudication or appointment or (B) remains
undismissed, undischarged or unbonded for a period of 60 days; or (iii) there shall be commenced
against any Borrower or any of its Subsidiaries any case, proceeding or other action seeking
issuance of a warrant of attachment, execution, distraint or similar process against all or any
substantial part of its assets that results in the entry of an order for any such relief that shall
not have been vacated, discharged, or stayed or bonded pending appeal within 60 days from the entry
thereof; or (iv) any Borrower or any of its Subsidiaries shall take any action in furtherance of,
or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause
(i), (ii), or (iii) above; or (v) any Borrower or any of its Subsidiaries shall generally not, or
shall be unable to, or shall admit in writing its inability to, pay its debts as they become due;
or
84
(g) (i) any Person shall engage in any “prohibited transaction” (as defined in Section 406 of
ERISA or Section 4975 of the Code) involving any Plan, (ii) any “accumulated funding deficiency”
(as defined in Section 302 of ERISA), whether or not waived, shall exist with respect to any Plan,
or any Lien in favor of the PBGC or a Plan shall arise on the assets of a Borrower or any Commonly
Controlled Entity, (iii) a Reportable Event shall occur with respect to, or proceedings shall
commence to have a trustee appointed, or a trustee shall be appointed, to administer or to
terminate, any Single Employer Plan, which Reportable Event or commencement of proceedings or
appointment of a trustee is, in the reasonable opinion of the Required Lenders, likely to result in
the termination of such Plan for purposes of Title IV of ERISA, (iv) any Single Employer Plan shall
terminate for purposes of Title IV of ERISA, (v) any Borrower or any Commonly Controlled Entity
shall incur any liability in connection with a withdrawal from, or the Insolvency or Reorganization
of, a Multiemployer Plan or (vi) any other event or condition shall occur or exist with respect to
a Plan; and in each case in clauses (i) through (vi) above, such event or condition, together with
all other such events or conditions, if any, would reasonably be expected to have a Material
Adverse Effect; or
(h) One or more judgments or decrees shall be entered against any Borrower or any of its
Subsidiaries (or any Joint Venture that is less than fifty percent (50%) owned by the Borrower or
any of its Subsidiaries, if the Borrower or such Subsidiary is a general partner, or treated as a
general partner, of such Joint Venture resulting in general liability to the Borrower or such
Subsidiary) involving for the Borrowers and their Subsidiaries (and any Joint Venture that is less
than fifty percent (50%) owned by the Borrower or any of its Subsidiaries, if the Borrower or such
Subsidiary is a general partner, or treated as a general partner, of such Joint Venture resulting
in general liability to the Borrower or such Subsidiary), taken as a whole, a liability (not paid
or fully covered by independent, third-party insurance as to which the relevant insurance company
has acknowledged coverage) of $5,000,000 or more, and all such judgments or decrees shall not have
been vacated, discharged, stayed or bonded pending appeal within 45 days from the entry thereof; or
(i) Any of the Security Documents (other than the Mortgages) shall cease, for any reason
(other than by reason of the express release thereof pursuant to Section 10.15), to be in full
force and effect, or any Loan Party or any Affiliate of any Loan Party shall so assert, or any Lien
created by any of the Security Documents (other than the Mortgages) shall cease to be enforceable
and of the same effect and priority purported to be created thereby or a material amount of the
Mortgages shall cease, for any reason (other than by reason of the express release thereof pursuant
to Section 10.15), to be in full force and effect, or any Loan Party or any Affiliate of any Loan
Party shall so assert, or the Mortgages shall cease to create a valid Lien on a portion of the
Collateral purported to be covered thereby having an appraised value of $28,500,000 or more
individually or in the aggregate, or such Lien shall for any reason cease to be an effective and
first priority Lien on a portion of the Collateral purported to be covered thereby having an
appraised value of $28,500,000 or more individually or in the aggregate, subject only to Liens
permitted pursuant to Section 7.3; or
85
(j) The guarantee contained in Section 2 of the Guarantee and Collateral Agreement shall cease,
for any reason (other than by reason of the express release thereof pursuant to Section 10.15), to
be in full force and effect or any Loan Party or any Affiliate of any Loan Party shall so assert;
or
(k) Any Change of Control shall occur; or
(l) Any event described in Section 8(f) shall occur with respect to any Joint Venture which is
less than fifty percent (50%) owned by a Borrower or any of its Subsidiaries if a Borrower or such
Subsidiary is a general partner, or treated as a general partner, of such Joint Venture resulting
in general liability to the Borrower or such Subsidiary;
then, and in any such event, (A) if such event is an Event of Default specified in clause (i) or
(ii) of paragraph (f) above with respect to any Borrower, automatically the Commitments shall
immediately terminate and the Loans hereunder (with accrued interest thereon) and all other amounts
owing under this Agreement and the other Loan Documents (including, without limitation, all amounts
of L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit
shall have presented the documents required thereunder) shall immediately become due and payable,
and (B) if such event is any other Event of Default, either or both of the following actions may be
taken: (i) with the consent of the Majority Revolving Credit Facility Lenders, the Administrative
Agent may, or upon the request of the Majority Revolving Credit Facility Lenders, the
Administrative Agent shall, by notice to the Borrowers declare the Revolving Credit Commitments to
be terminated forthwith, whereupon the Revolving Credit Commitments shall immediately terminate;
and (ii) with the consent of the Required Lenders, the Administrative Agent may, or upon the
request of the Required Lenders, the Administrative Agent shall, by notice to the Borrowers,
declare the Loans hereunder (with accrued interest thereon) and all other amounts owing under this
Agreement and the other Loan Documents (including, without limitation, all amounts of L/C
Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have
presented the documents required thereunder) to be due and payable forthwith, whereupon the same
shall immediately become due and payable. In the case of all Letters of Credit with respect to
which presentment for honor shall not have occurred at the time of an acceleration pursuant to this
paragraph, the Borrowers shall at such time deposit in a cash collateral account opened by the
Administrative Agent an amount equal to the aggregate then undrawn and unexpired face amount of
such Letters of Credit. Amounts held in such cash collateral account shall be applied by the
Administrative Agent to the payment of drafts drawn under such Letters of Credit, and the unused
portion thereof after all such Letters of Credit shall have expired or been fully drawn upon, if
any, shall be applied to repay other obligations of the Borrowers hereunder and under the other
Loan Documents. After all such Letters of Credit shall have expired or been fully drawn upon, all
Reimbursement Obligations shall have been satisfied and all other obligations of the Borrowers
hereunder and under the other Loan Documents shall have been paid in full, the balance, if any, in
such cash collateral account shall be returned to the Borrowers (or such other Person as may be
lawfully entitled thereto).
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SECTION 9. THE AGENTS
9.1 Appointment. Each Lender hereby irrevocably designates and appoints the Agents as the agents of such
Lender under this Agreement and the other Loan Documents, and each Lender irrevocably authorizes
each Agent, in such capacity, to take such action on its behalf under the provisions of this
Agreement and the other Loan Documents and to exercise such powers and perform such duties as are
expressly delegated to such Agent by the terms of this Agreement and the other Loan Documents,
together with such other powers as are reasonably incidental thereto. Notwithstanding any
provision to the contrary elsewhere in this Agreement, no Agent shall have any duties or
responsibilities, except those expressly set forth herein, or any fiduciary relationship with any
Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities
shall be read into this Agreement or any other Loan Document or otherwise exist against any Agent.
9.2 Delegation of Duties. Each Agent may execute any of its duties under this Agreement and the other Loan Documents
by or through agents or attorneys-in-fact and shall be entitled to advice of counsel concerning all
matters pertaining to such duties. No Agent shall be responsible for the negligence or misconduct
of any agents or attorneys-in-fact selected by it with reasonable care.
9.3 Exculpatory Provisions. Neither any Agent nor any of its officers, directors, employees, agents, attorneys-in-fact
or affiliates shall be (i) liable for any action lawfully taken or omitted to be taken by it or
such Person under or in connection with this Agreement or any other Loan Document (except to the
extent that any of the foregoing are found by a final and non-appealable decision of a court of
competent jurisdiction to have resulted from its or such Person’s own gross negligence or willful
misconduct) or (ii) responsible in any manner to any of the Lenders for any recitals, statements,
representations or warranties made by any Loan Party or any officer thereof contained in this
Agreement or any other Loan Document or in any certificate, report, statement or other document
referred to or provided for in, or received by the Agents under or in connection with, this
Agreement or any other Loan Document or for the value, validity, effectiveness, genuineness,
enforceability or sufficiency of this Agreement or any other Loan Document or for any failure of
any Loan Party to perform its obligations hereunder or thereunder. The Agents shall not be under
any obligation to any Lender to ascertain or to inquire as to the observance or performance of any
of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to
inspect the properties, books or records of any Loan Party.
9.4 Reliance by Agents. Each Agent shall be entitled to rely, and shall be fully protected in relying, upon any
instrument, writing, resolution, notice, consent, certificate, affidavit, letter, telecopy, telex
or teletype message, statement, order or other document or conversation believed by it to be
genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon
advice and statements of legal counsel (including, without limitation, counsel to the Loan
Parties), independent accountants and other experts selected by such Agent. The Agents may deem
and treat the payee of any Note as the owner thereof for all purposes unless such Note shall have
been transferred in accordance with Section 10.6 and all actions required by such Section in
connection with such transfer shall have been taken. Each Agent shall be fully justified in
failing or refusing to take any action under this Agreement or any other Loan Document unless it
shall first receive such advice or concurrence of the Required Lenders (or, if so specified by this
Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement) as it
deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any
and all liability and expense that may be incurred by it by reason of taking or continuing to take
any such action. Each Agent shall in all cases be fully protected in acting, or in refraining from
acting, under this Agreement and the other Loan Documents in accordance with a request of the
Required Lenders (or, if so specified by this Agreement, all Lenders or any other instructing group
of Lenders specified by this Agreement), and such request and any action taken or failure to act
pursuant thereto shall be binding upon all the Lenders and all future holders of the Loans.
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9.5 Notice of Default. No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or
Event of Default hereunder unless such Agent shall have received notice from a Lender or a Borrower
referring to this Agreement, describing such Default or Event of Default and stating that such
notice is a “notice of default”. In the event that the Administrative Agent shall receive such a
notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative
Agent shall take such action with respect to such Default or Event of Default as shall be
reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders or
any other instructing group of Lenders specified by this Agreement); provided that unless
and until the Administrative Agent shall have received such directions, the Administrative Agent
may (but shall not be obligated to) take such action, or refrain from taking such action, with
respect to such Default or Event of Default as it shall deem advisable in the best interests of the
Lenders.
9.6 Non-Reliance on Agents and Other Lenders. Each Lender expressly acknowledges that neither any of the Agents nor any of their
respective officers, directors, employees, agents, attorneys-in-fact or affiliates have made any
representations or warranties to it and that no act by any Agent hereafter taken, including any
review of the affairs of a Loan Party or any affiliate of a Loan Party, shall be deemed to
constitute any representation or warranty by any Agent to any Lender. Each Lender represents to
the Agents that it has, independently and without reliance upon any Agent or any other Lender, and
based on such documents and information as it has deemed appropriate, made its own appraisal of and
investigation into the business, operations, property, financial and other condition and
creditworthiness of the Loan Parties and their affiliates and made its own decision to make its
Loans hereunder and enter into this Agreement. Each Lender also represents that it will,
independently and without reliance upon any Agent or any other Lender, and based on such documents
and information as it shall deem appropriate at the time, continue to make its own credit analysis,
appraisals and decisions in taking or not taking action under this Agreement and the other Loan
Documents, and to make such investigation as it deems necessary to inform itself as to the
business, operations, property, financial and other condition and creditworthiness of the Loan
Parties and their affiliates. Except for notices, reports and other documents expressly required
to be furnished to the Lenders by the Administrative Agent hereunder, no Agent shall have any duty
or responsibility to provide any Lender with any credit or other information concerning the
business, operations, property, condition (financial or otherwise), prospects or creditworthiness
of any Loan Party or any affiliate of a Loan Party that may come into the possession of such Agent
or any of its officers, directors, employees, agents, attorneys-in-fact or affiliates.
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9.7 Indemnification. The Lenders agree to indemnify each Agent in its capacity as such (to the extent not
reimbursed by the Borrowers and without limiting the obligation of each Borrower to do so), ratably
according to their respective Aggregate Exposure Percentages in effect on the date on which
indemnification is sought under this Section (or, if indemnification is sought after the date upon
which the Commitments shall have terminated and the Loans shall have been paid in full, ratably in
accordance with such Aggregate Exposure Percentages immediately prior to such date), for, and to
save each Agent harmless from and against, any and all liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that
may at any time (including, without limitation, at any time following the payment of the Loans) be
imposed on, incurred by or asserted against such Agent in any way relating to or arising out of,
the Commitments, this Agreement, any of the other Loan Documents or any documents contemplated by
or referred to herein or therein or the transactions contemplated hereby or thereby or any action
taken or omitted by such Agent under or in connection with any of the foregoing; provided
that no Lender shall be liable for the payment of any portion of such liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements that are
found by a final and non-appealable decision of a court of competent jurisdiction to have resulted
from such Agent’s gross negligence or willful misconduct. The agreements in this Section shall
survive the payment of the Loans and all other amounts payable hereunder.
9.8 Agent in Its Individual Capacity. Each Agent and its affiliates may make loans to, accept deposits from and generally engage
in any kind of business with any Loan Party as though such Agent were not an Agent. With respect
to its Loans made or renewed by it and with respect to any Letter of Credit issued or participated
in by it, each Agent shall have the same rights and powers under this Agreement and the other Loan
Documents as any Lender and may exercise the same as though it were not an Agent, and the terms
“Lender” and “Lenders” shall include each Agent in its individual capacity.
9.9 Successor Administrative Agent. The Administrative Agent may resign as Administrative Agent upon ten days’ notice to the
Lenders and the Borrowers. If the Administrative Agent shall resign as Administrative Agent under
this Agreement and the other Loan Documents, then the Required Lenders shall appoint from among the
Lenders a successor agent for the Lenders, which successor agent shall (unless an Event of Default
under SECTION 8(a) or SECTION 8(f) with respect to any Borrower shall have occurred and be
continuing) be subject to approval by the Borrowers (which approval shall not be unreasonably
withheld or delayed), whereupon such successor agent shall succeed to the rights, powers and duties
of the Administrative Agent, and the term “Administrative Agent” shall mean such successor agent
effective upon such appointment and approval, and the former Administrative Agent’s rights, powers
and duties as Administrative Agent shall be terminated, without any other or further act or deed on
the part of such former Administrative Agent or any of the parties to this Agreement or any holders
of the Loans. If no successor agent has accepted appointment as Administrative Agent by the date
that is ten days following a retiring Administrative Agent’s notice of resignation, the retiring
Administrative Agent’s resignation shall nevertheless thereupon become effective, and the Lenders
shall assume and perform all of the duties of the Administrative Agent hereunder until such time,
if any, as the Required Lenders appoint a successor agent as provided for above. Any
Co-Syndication Agent or the Documentation Agent may, at any time, by notice to the Lenders and the
Administrative Agent, resign as a Co-Syndication Agent or Documentation Agent, as applicable,
hereunder, whereupon the duties, rights, obligations and responsibilities of such Co-Syndication
Agent or Documentation Agent hereunder shall automatically be assumed by, and inure to the benefit
of, the Administrative Agent, without any further act by such Co-Syndication Agent or Documentation
Agent, the Administrative Agent or any Lender. After any retiring Agent’s resignation as Agent,
the provisions of this SECTION 9 shall inure to its benefit as to any actions taken or omitted to
be taken by it while it was Agent under this Agreement and the other Loan Documents.
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9.10 Authorization to Release Liens and Guarantees. The Administrative Agent is hereby irrevocably authorized by each of the Lenders to effect
any release of Liens or guarantee obligations contemplated by Section 10.15.
9.11 The Arrangers; the Co-Syndication Agents; the Documentation Agent. None of the Arrangers, the Co-Syndication Agents or the Documentation Agent, in their
respective capacities as such, shall have any duties or responsibilities, nor shall any such Person
incur any liability, under this Agreement and the other Loan Documents.
SECTION 10. MISCELLANEOUS
10.1 Amendments and Waivers. Neither this Agreement or any other Loan Document, nor any terms hereof or thereof may be
amended, supplemented or modified except in accordance with the provisions of this Section 10.1.
The Required Lenders and each Loan Party party to the relevant Loan Document may, or (with the
written consent of the Required Lenders) the Administrative Agent and each Loan Party party to the
relevant Loan Document may, from time to time, (a) enter into written amendments, supplements or
modifications hereto and to the other Loan Documents (including amendments and restatements hereof
or thereof) for the purpose of adding any provisions to this Agreement or the other Loan Documents
or changing in any manner the rights of the Lenders or of the Loan Parties hereunder or thereunder
or (b) waive, on such terms and conditions as may be specified in the instrument of waiver, any of
the requirements of this Agreement or the other Loan Documents or any Default or Event of Default
and its consequences; provided, however, that no such waiver and no such amendment,
supplement or modification shall:
(i) forgive or reduce the principal amount or extend the final scheduled date
of maturity of any Loan or Reimbursement Obligation, extend the scheduled date of
any amortization payment in respect of any Term Loan, reduce the stated rate of any
interest or fee payable under this Agreement (except (x) in connection with the
waiver of applicability of any post-default increase in interest rates (which waiver
shall be effective with the consent of the Majority Facility Lenders of each
adversely affected Facility) and (y) that any amendment or modification of defined
terms used in the financial covenants in this Agreement shall not constitute a
reduction in the rate of interest or fees for purposes of this clause (i)) or extend
the scheduled date of any payment thereof, or increase the amount or extend the
expiration date of any Commitment of any Lender, in each case without the consent of
each Lender directly affected thereby;
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(ii) amend, modify or waive any provision of this Section or reduce any percentage
specified in the definition of Required Lenders or Required Prepayment Lenders,
consent to the assignment or transfer by any Borrower of any of its rights and
obligations under this Agreement and the other Loan Documents, release all or
substantially all of the Collateral or release all or substantially all of the
Subsidiary Guarantors from their guarantee obligations under the Guarantee and
Collateral Agreement, in each case without the consent of all the Lenders;
(iii) intentionally omitted;
(iv) reduce the percentage specified in the definition of Majority
Facility Lenders with respect to any Facility without the consent of all of the
Lenders under such Facility;
(v) amend, modify or waive any provision of SECTION 9, or any other
provision affecting the rights, duties or obligations of any Agent, without the
consent of any Agent directly affected thereby;
(vi) amend, modify or waive any provision of Section 2.16 or Section
6.5 of the Guarantee and Collateral Agreement without the consent of each Lender
directly affected thereby;
(vii) amend, modify or waive any provision of SECTION 3 without the
consent of each Issuing Lender affected thereby;
(viii) impose restrictions on assignments and participations that are
more restrictive than, or additional to, those set forth in Section 10.6 without the
consent of each Lender directly affected thereby; or
(ix) amend, modify or waive any provision of Section 2.23 or 2.24
without the consent of the Swing Line Lender.
Any such waiver and any such amendment, supplement or modification shall apply equally to each
of the Lenders and shall be binding upon the Loan Parties, the Lenders, the Agents and all future
holders of the Loans. In the case of any waiver, the Loan Parties, the Lenders and the Agents
shall be restored to their former position and rights hereunder and under the other Loan Documents,
and any Default or Event of Default waived shall be deemed to be cured and not continuing; but no
such waiver shall extend to any subsequent or other Default or Event of Default, or impair any
right consequent thereon. Any such waiver, amendment, supplement or modification shall be effected
by a written instrument signed by the parties required to sign pursuant to the foregoing provisions
of this Section; provided, that delivery of an executed signature page of any such
instrument by facsimile transmission shall be effective as delivery of a manually executed
counterpart thereof.
In addition to the amendments described above, and notwithstanding anything in this Section
10.1 to the contrary, any amendment to this Agreement or other Loan Documents to effectuate a
Revolving Offered Increase Amount may be effected as contemplated by Section 2.26.
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10.2 Notices. All notices, requests and demands to or upon the respective parties hereto to be effective
shall be in writing (including by telecopy), and, unless otherwise expressly provided herein, shall
be deemed to have been duly given or made when delivered, or three Business Days after being
deposited in the mail, postage prepaid, or, in the case of telecopy notice, when received,
addressed (a) in the case of the Borrowers and the Administrative Agent, as follows and (b) in the
case of the Lenders, as set forth in an administrative questionnaire delivered to the
Administrative Agent or on Schedule 1.1C hereto or, in the case of a Lender which becomes a
party to this Agreement pursuant to an Assignment and Acceptance, in such Assignment and Acceptance
or (c) in the case of any party, to such other address as such party may hereafter notify to the
other parties hereto:
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MAPCO Express:
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MAPCO Express, Inc.
0000 Xxxxxxxx Xxx
Xxxxxxxxx, XX 00000
Attention: Xxxx Xxx, Chief Financial
Officer or Xxxxxxx X Xxxxxxxx, Treasurer
Telecopy: (000) 000-0000
Telephone: (000) 000-0000 |
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With a copy to:
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Bass, Xxxxx & Xxxx PLC
000 Xxxxx Xxxxxx Xxxxx, Xxxxx 0000
Xxxxxxxxx, XX 00000
Attention: Xxxx Xxxxxx, Esq. or Xxxxx
Xxxxxx, Esq.
Telecopy: (000) 000-0000
Telephone: (000) 000-0000 |
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The Administrative Agent:
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Fifth Third Bank
00 Xxxxxxxx Xxxxxx Xxxxx
Xxxxxxxxxx, Xxxx 00000
Attention: Xxxx Xxxx
Telecopy: 000-000-0000
Telephone: 000-000-0000 |
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With a copy to:
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Xxxxxx Xxxxxx Xxxxxxxx LLP
000 Xxxx Xxxxxx Xxxxxx
Xxxxxxx, XX 00000
Attention: Xxxxxxxx Xxxxx, Esq.
Telecopy: (000) 000-0000
Telephone: (000) 000-0000 |
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Issuing Lender:
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As notified by such Issuing Lender to the
Administrative Agent and the Borrowers |
provided that any notice, request or demand to or upon the Agents, any Issuing Lender or
any Lender shall not be effective until received.
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Notices and other communications to the Lenders hereunder may be delivered or furnished by
electronic communications pursuant to procedures approved by the Administrative Agent;
provided that the foregoing shall not apply to notices pursuant to SECTION 2 unless
otherwise agreed by the Administrative Agent and the applicable Lender. The Administrative Agent
or the Borrowers may, in their discretion, agree to accept notices and other communications to it
hereunder by electronic communications pursuant to procedures approved by it; provided that
approval of such procedures may be limited to particular notices or communications.
10.3 No Waiver; Cumulative Remedies. No failure to exercise and no delay in exercising, on the part of any Agent or any Lender,
any right, remedy, power or privilege hereunder or under the other Loan Documents shall operate as
a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege
hereunder preclude any other or further exercise thereof or the exercise of any other right,
remedy, power or privilege. The rights, remedies, powers and privileges herein provided are
cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.
10.4 Survival of Representations and Warranties. All representations and warranties made herein, in the other Loan Documents and in any
document, certificate or statement delivered pursuant hereto or in connection herewith shall
survive the execution and delivery of this Agreement and the making of the Loans and other
extensions of credit hereunder.
10.5 Payment of Expenses. Each Borrower jointly and severally agrees (a) to pay or reimburse the Administrative
Agent for all its reasonable out-of-pocket costs and expenses incurred in connection with the
syndication of the Facilities (other than fees payable to syndicate members) and the development,
preparation and execution of, and any amendment, supplement or modification to, this Agreement and
the other Loan Documents and any other documents prepared in connection herewith or therewith, and
the consummation and administration of the transactions contemplated hereby and thereby, including,
without limitation, the reasonable fees and disbursements and other charges of counsel to the
Administrative Agent and the charges of Intralinks, (b) to pay or reimburse each Lender and the
Agents for all their costs and expenses incurred in connection with the enforcement or preservation
of any rights under this Agreement, the other Loan Documents and any other documents prepared in
connection herewith or therewith, including, without limitation, the fees and disbursements of
counsel (including the allocated fees and disbursements and other charges of in-house counsel) to
each Lender and of counsel to the Agents, (c) to pay, indemnify, or reimburse each Lender and the
Agents for, and hold each Lender and the Agents harmless from, any and all recording and filing
fees and any and all liabilities with respect to, or resulting from any delay in paying, stamp,
excise and other taxes, if any, which may be payable or determined to be payable in connection with
the execution and delivery of, or consummation or administration of any of the transactions
contemplated by, or any amendment, supplement or modification of, or any waiver or consent under or
in respect of, this Agreement, the other Loan Documents and any such other documents, and (d) to
pay, indemnify or reimburse each Lender, each Agent, their respective affiliates, and their
respective officers, directors, trustees, employees, advisors, agents and controlling persons
(each, an “Indemnitee”) for, and
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hold each Indemnitee harmless from and against any and
all other liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements of any kind or nature whatsoever incurred by an Indemnitee or asserted
against any Indemnitee by any third party or by any Borrower or any other Loan Party arising out
of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any
other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance
by the parties hereto or thereto of their respective obligations hereunder or thereunder or the
consummation of the transactions contemplated hereby or thereby, (ii) any Loan or Letter of Credit
or the use or proposed use of the proceeds thereof (including any refusal by any Issuing Bank to
honor a demand for payment under a Letter of Credit if the documents presented in connection with
such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or
alleged presence or release of Materials of Environmental Concern on or from any Property owned,
occupied or operated by the Borrowers or any of their Subsidiaries, or any violation of,
non-compliance with or liability under any Environmental Laws related in any way to the Borrowers
or any of their Subsidiaries or any or their respective properties, or (iv) any actual or
prospective claim, litigation, investigation or proceeding relating to any of the foregoing,
whether based on contract, tort or any other theory, whether brought by any third party or by any
Borrower or any other Loan Party, and regardless of whether any Indemnitee is a party thereto (all
the foregoing in this clause (d), collectively, the “Indemnified Liabilities”),
provided, that the Borrowers shall have no obligation hereunder to any Indemnitee with
respect to Indemnified Liabilities to the extent such Indemnified Liabilities are found by a final
and non-appealable decision of a court of competent jurisdiction to have resulted from the gross
negligence or willful misconduct of such Indemnitee. No Indemnitee shall be liable for any damages
arising from the use by unauthorized persons of Information or other materials sent through
electronic, telecommunications or other information transmission systems that are intercepted by
such persons or for any special, indirect, consequential or punitive damages in connection with the
Facilities. Without limiting the foregoing, and to the extent permitted by applicable law, each
Borrower agrees not to assert and to cause its Subsidiaries not to assert, and hereby waives and
agrees to cause its Subsidiaries so to waive, all rights for contribution from the Lenders or any
other rights of recovery from the Lenders with respect to all claims, demands, penalties, fines,
liabilities, settlements, damages, costs and expenses of whatever kind or nature, under or related
to Environmental Laws, that any of them might have by statute or otherwise against any Indemnitee,
provided that, such waiver shall not apply if, and to the extent, such claim for
contribution or recovery arises out of the gross negligence or willful misconduct of such
Indemnitee as found by a final non-appealable decision of a court of competent jurisdiction. All
amounts due under this Section shall be payable not later than 30 days after written demand
therefor. Statements payable by the Borrowers pursuant to this Section shall be submitted to the
president and the chief financial officer of each Borrower, at the address of MAPCO Express set
forth in Section 10.2, or to such other Person or address as may be hereafter designated by the
Borrowers in a notice to the Administrative Agent. The agreements in this Section shall survive
repayment of the Loans and all other amounts payable hereunder.
10.6 Successors and Assigns; Participations and Assignments. (a) This Agreement shall be binding upon and inure to the benefit of the Borrowers, the
Lenders, the Agents, all future holders of the Loans and their respective successors and assigns,
except that neither of the Borrowers may assign or transfer any of its rights or obligations under
this Agreement without the prior written consent of the Agents and each Lender.
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(b) Any Lender may, without the consent of the Borrowers, in accordance with applicable law,
at any time sell to one or more banks, financial institutions or other entities (each, a
“Participant”) participating interests in any Loan owing to such Lender, any Commitment of
such Lender or any other interest of such Lender hereunder and under the other Loan Documents. In
the event of any such sale by a Lender of a participating interest to a Participant, such Lender’s
obligations under this Agreement to the other parties to this Agreement shall remain unchanged,
such Lender shall remain solely responsible for the performance thereof, such Lender shall remain
the holder of any such Loan for all purposes under this Agreement and the other Loan Documents, and
the Borrowers and the Agents shall continue to deal solely and directly with such Lender in
connection with such Lender’s rights and obligations under this Agreement and the other Loan
Documents. In no event shall any Participant under any such participation have any right to
approve any amendment or waiver of any provision of any Loan Document, or any consent to any
departure by any Loan Party therefrom, except to the extent that such amendment, waiver or consent
would require the consent of all Lenders pursuant to Section 10.1. Each Borrower agrees that if
amounts outstanding under this Agreement and the Loans are due or unpaid, or shall have been
declared or shall have become due and payable upon the occurrence of an Event of Default, each
Participant shall, to the maximum extent permitted by applicable law, be deemed to have the right
of setoff in respect of its participating interest in amounts owing under this Agreement to the
same extent as if the amount of its participating interest were owing directly to it as a Lender
under this Agreement, provided that, in purchasing such participating interest, such
Participant shall be deemed to have agreed to share with the Lenders the proceeds thereof as
provided in Section 10.7(a), as fully as if such Participant were a Lender hereunder. Each
Borrower also agrees that each Participant shall be entitled to the benefits of Sections 2.17, 2.18
and 2.19 with respect to its participation in the Commitments and the Loans outstanding from time
to time as if such Participant were a Lender; provided that, in the case of Section 2.18,
such Participant shall have complied with the requirements of said Section (including the
requirements of Section 2.18(d) or Section 2.18(e) as applicable, as though it were a Lender), and
provided, further, that no Participant shall be entitled to receive any greater
amount pursuant to any such Section than the transferor Lender would have been entitled to receive
in respect of the amount of the participation transferred by such transferor Lender to such
Participant had no such transfer occurred.
(c) Any Lender (an “Assignor”) may, in accordance with applicable law and
upon written notice to the Administrative Agent, at any time and from time to time assign to any
Lender or any affiliate, Related Fund or Control Investment Affiliate thereof (other than a
Defaulting Lender or an affiliate, Related Fund or Control Investment Affiliate thereof) or, with
the consent of the Borrowers and the Administrative Agent and, in the case of any assignment of
Revolving Credit Commitments, the written consent of the Issuing Lender and the Swing Line Lender
(which, in each case, shall not be unreasonably withheld or delayed) (provided the consent
of the Borrowers need not be obtained with respect to any assignment of Term Loans), to an
additional bank, financial institution or other entity, other than a Loan Party or any Affiliate of
a Loan Party (an “Assignee”) all or any part of its rights and obligations under this
Agreement pursuant to an Assignment and Acceptance, substantially in the form of Exhibit E (an
“Assignment and Acceptance”), executed by such Assignee and such Assignor (and, where the consent
of the Borrower, the Administrative Agent, the Issuing Lender or the Swing Line Lender is required
pursuant to the foregoing provisions, by the Borrower and such other
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Persons) and delivered to the
Administrative Agent for its acceptance and recording in the Register; provided that no
such assignment to an Assignee (other than any Lender or any affiliate thereof, including any
Related Fund) shall be in an aggregate principal amount of less than $5,000,000 (other than in the
case of an assignment of all of a Lender’s interests under this Agreement) and, after giving effect
thereto, the assigning Lender (if it shall retain any commitments or Loans) shall have commitments
and Loans aggregating at least $5,000,000, in each case, unless otherwise agreed by the Borrowers
and the Administrative Agent. Any such assignment need not be ratable as among the Facilities.
Upon such execution, delivery, acceptance and recording, from and after the effective date
determined pursuant to such Assignment and Acceptance, (x) the Assignee thereunder shall be a party
hereto and, to the extent provided in such Assignment and Acceptance, have the rights and
obligations of a Lender hereunder with Commitments and/or Loans as set forth therein, and (y) the
Assignor thereunder shall, to the extent provided in such Assignment and Acceptance, be released
from its obligations under this Agreement (and, in the case of an Assignment and Acceptance
covering all of an Assignor’s rights and obligations under this Agreement, such Assignor shall
cease to be a party hereto, except as to Section 2.17, 2.18 and 10.5 in respect of the period prior
to such effective date). Notwithstanding any provision of this Section, the consent of the
Borrowers shall not be required for any assignment that occurs at any time when any Event of
Default shall have occurred and be continuing. For purposes of the minimum assignment amounts set
forth in this paragraph, multiple assignments by two or more Related Funds shall be
aggregated.
(d) The Administrative Agent shall, on behalf of the Borrowers, maintain at its address
referred to in Section 10.2 a copy of each Assignment and Acceptance delivered to it and a register
(the “Register”) for the recordation of the names and addresses of the Lenders and the
Commitment of, and principal amount of the Loans owing to, each Lender from time to time. The
entries in the Register shall be conclusive, in the absence of manifest error, and the Borrowers,
each Agent and the Lenders shall treat each Person whose name is recorded in the Register as the
owner of the Loans and any Notes evidencing such Loans recorded therein for all purposes of this
Agreement. Any assignment of any Loan, whether or not evidenced by a Note, shall be effective only
upon appropriate entries with respect thereto being made in the Register (and each Note shall
expressly so provide). Any assignment or transfer of all or part of a Loan evidenced by a Note
shall be registered on the Register only upon surrender for registration of assignment or transfer
of the Note evidencing such Loan, accompanied by a duly executed Assignment and Acceptance;
thereupon one or more new Notes in the same aggregate principal amount shall be issued to the
designated Assignee, and the old Notes shall be returned by the Administrative Agent to the
Borrowers marked “canceled”. The Register shall be available for inspection by the Borrowers or
any Lender (with respect to any entry relating to such Lender’s Loans) at any reasonable time and
from time to time upon reasonable prior notice. The Administrative Agent shall update the Register
on the First Amendment Effective Date to reflect the Revolving Credit Commitments and the Term
Loans, in each case, of the Lenders after giving effect to this Agreement.
96
(e) Upon its receipt of an Assignment and Acceptance executed by an Assignor and an Assignee
(and, in any case where the consent of any other Person is required by Section 10.6(c), by each
such other Person) together with payment to the Administrative Agent of a registration and
processing fee of $3,500 (treating multiple, simultaneous assignments by or to two or more Related
Funds as a single assignment) (except that no such registration and processing fee shall be payable
in the case of an Assignee which is already a Lender or is an affiliate or Related Fund of a Lender
or a Person under common management with a Lender), the Administrative Agent shall (i) promptly
accept such Assignment and Acceptance and (ii) on the effective date determined pursuant thereto
record the information contained therein in the Register and give notice of such acceptance and
recordation to the Borrowers. On or prior to such effective date, the Borrowers, at their own
expense, upon request, shall execute and deliver to the Administrative Agent (in exchange for the
Revolving Credit Note of the assigning Lender) a new Revolving Credit Note to the order of such
Assignee in an amount equal to the Revolving Credit Commitment assumed or acquired by it pursuant
to such Assignment and Acceptance and, if the Assignor has retained a Revolving Credit Commitment,
upon request, a new Revolving Credit Note to the order of the Assignor in an amount equal to the
Revolving Credit Commitment retained by it hereunder. Such new Note or Notes shall be dated the
First Amendment Effective Date and shall otherwise be in the form of the Note or Notes replaced
thereby.
(f) For avoidance of doubt, the parties to this Agreement acknowledge that the
provisions of this Section concerning assignments of Loans and Notes relate only to absolute
assignments and that such provisions do not prohibit assignments creating security interests in
Loans and Notes, including, without limitation, any pledge or assignment by a Lender of any Loan or
Note to any Federal Reserve Bank in accordance with applicable law.
(g) Notwithstanding anything to the contrary contained herein, any Lender (a
“Granting Lender”) may grant to a special purpose funding vehicle (an “SPC”),
identified as such in writing from time to time by the Granting Lender to the Administrative Agent
and the Borrowers, the option to provide to the Borrowers all or any part of any Loan that such
Granting Lender would otherwise be obligated to make to the Borrowers pursuant to this Agreement;
provided that (i) nothing herein shall constitute a commitment by any SPC to make any Loan
and (ii) if an SPC elects not to exercise such option or otherwise fails to provide all or any part
of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms
hereof. The making of a Loan by an SPC hereunder shall utilize the Commitment of the Granting
Lender to the same extent, and as if, such Loan were made by such Granting Lender. Each party
hereto hereby agrees that no SPC shall be liable for any indemnity or similar payment obligation
under this Agreement (all liability for which shall remain with the Granting Lender). In
furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the
termination of this Agreement) that, prior to the date that is one year and one day after the
payment in full of all outstanding commercial paper or other indebtedness of any SPC, it will not
institute against, or join any other person in instituting against, such SPC any bankruptcy,
reorganization, arrangement, insolvency or liquidation proceedings under the laws of the United
States or any state thereof. In addition, notwithstanding anything to the contrary in this Section
10.6(g), any SPC may (A) with notice to, but without the prior written consent of, the Borrowers
and the Administrative Agent and without paying any processing fee therefor, assign all or a
portion of its interests in any Loans to the Granting Lender, or with the prior written consent of
the Borrowers and the Administrative Agent (which consent shall not be unreasonably withheld) to
any financial institutions providing liquidity and/or credit support to or for the account of such
SPC to support the funding or maintenance of Loans, and (B) disclose on a confidential basis any
non-public information relating to its Loans to any rating agency, commercial paper dealer or
provider of any surety, guarantee or credit or liquidity enhancement to such SPC; provided
that non-public information with respect to any Borrower may be disclosed only with such Borrower’s
consent which will not be unreasonably withheld. This paragraph (g) may not be amended without the
written consent of any SPC with Loans outstanding at the time of such proposed amendment.
97
10.7 Adjustments; Set-off. (a) Except to the extent that this Agreement provides for payments to be allocated to a
particular Lender or to the Lenders under a particular Facility, if any Lender (a “Benefited
Lender”) shall at any time receive any payment of all or part of the Obligations owing to it,
or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off,
pursuant to events or proceedings of the nature referred to in SECTION 8(f), or otherwise), in a
greater proportion than any such payment to or collateral received by any other Lender, if any, in
respect of such other Lender’s Obligations, such Benefited Lender shall purchase for cash from the
other Lenders a participating interest in such portion of each such other Lender’s Obligations, or
shall provide such other Lenders with the benefits of any such collateral, as shall be necessary to
cause such Benefited Lender to share the excess payment or benefits of such collateral ratably with
each of the Lenders; provided, however, that if all or any portion of such excess
payment or benefits is thereafter recovered from such Benefited Lender, such purchase shall be
rescinded, and the purchase price and benefits returned, to the extent of such recovery, but
without interest. If a Defaulting Lender receives any such payment as described in the previous
sentences, such Lender shall turn over such payments to the Administrative Agent in an amount that
would satisfy the cash collateral requirements set forth in Section 2.22.
(b) In addition to any rights and remedies of the Lenders provided by law, each Lender shall
have the right, without prior notice to the Borrowers, any such notice being expressly waived by
each Borrower to the extent permitted by applicable law, upon any amount becoming due and payable
by each Borrower hereunder (whether at the stated maturity, by acceleration or otherwise), to set
off and appropriate and apply against such amount any and all deposits (general or special, time or
demand, provisional or final), in any currency, and any other credits, indebtedness or claims, in
any currency, in each case whether direct or indirect, absolute or contingent, matured or
unmatured, at any time held or owing by such Lender or any branch or agency thereof to or for the
credit or the account of any Borrower. Each Lender agrees promptly to notify the Borrowers and the
Administrative Agent after any such setoff and application made by such Lender, provided
that the failure to give such notice shall not affect the validity of such setoff and application.
10.8 Counterparts. This Agreement may be executed by one or more of the parties to this Agreement on any
number of separate counterparts, and all of said counterparts taken together shall be deemed to
constitute one and the same instrument. Delivery of an executed signature page of this Agreement
by facsimile transmission shall be effective as delivery of a manually executed counterpart hereof.
A set of the copies of this Agreement signed by all the parties shall be lodged with the Borrowers
and the Administrative Agent.
10.9 Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction.
98
10.10 Integration. This Agreement and the other Loan Documents represent the entire agreement of the
Borrowers, the Agents, the Arrangers and the Lenders with respect to the subject matter hereof and
thereof, and there are no promises, undertakings, representations or warranties by the Arrangers,
any Agent or any Lender relative to subject matter hereof not expressly set forth or referred to
herein or in the other Loan Documents.
10.11 GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE
GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
10.12 Submission To Jurisdiction; Waivers. Each Borrower hereby irrevocably and unconditionally:
(a) submits for itself and its Property in any legal action or proceeding relating to this
Agreement and the other Loan Documents to which it is a party, or for recognition and enforcement
of any judgment in respect thereof, to the non-exclusive general jurisdiction of the courts of the
State of New York sitting in the Borough of Manhattan, the courts of the United States of America
for the Southern District of New York, and appellate courts from any thereof;
(b) consents that any such action or proceeding may be brought in such courts and
waives any objection that it may now or hereafter have to the venue of any such action or
proceeding in any such court or that such action or proceeding was brought in an inconvenient court
and agrees not to plead or claim the same;
(c) agrees that service of process in any such action or proceeding may be effected
by mailing a copy thereof by registered or certified mail (or any substantially similar form of
mail), postage prepaid, to such Borrower at its address set forth in Section 10.2 or at such other
address of which the Administrative Agent shall have been notified pursuant thereto;
(d) agrees that nothing herein shall affect the right to effect service of process in
any other manner permitted by law or shall limit the right to xxx in any other jurisdiction; and
(e) waives, to the maximum extent not prohibited by law, any right it may have to
claim or recover in any legal action or proceeding referred to in this Section any special,
exemplary, punitive or consequential damages.
10.13 Acknowledgments. Each Borrower hereby acknowledges that:
(a) it has been advised by counsel in the negotiation, execution and delivery of this
Agreement and the other Loan Documents;
99
(b) neither the Arrangers, any Agent nor any Lender has any fiduciary relationship with or duty to
the Borrowers arising out of or in connection with this Agreement or any of the other Loan
Documents, and the relationship between the Arrangers, the Agents and the Lenders, on one hand, and
the Borrowers, on the other hand, in connection herewith or therewith is solely that of creditor
and debtor; and
(c) no joint venture is created hereby or by the other Loan Documents or otherwise exists by
virtue of the transactions contemplated hereby among the Arrangers, the Agents and the Lenders or
among the Borrowers and the Lenders.
10.14 Confidentiality. Each of the Agents and the Lenders agrees to keep confidential all non-public information
provided to it by any Loan Party pursuant to this Agreement that is designated by such Loan Party
as confidential; provided that nothing herein shall prevent any Agent or any Lender from
disclosing any such information (a) to the Arrangers, any Agent, any other Lender or any affiliate
of any thereof, (b) to any Participant or Assignee (each, a “Transferee”) or prospective
Transferee that agrees to comply with the provisions of this Section or substantially equivalent
provisions, (c) to any of its employees, directors, agents, attorneys, accountants and other
professional advisors, (d) to any financial institution that is a direct or indirect contractual
counterparty in swap agreements or such contractual counterparty’s professional advisor (so long as
such contractual counterparty or professional advisor to such contractual counterparty agrees to be
bound by the provisions of this Section), (e) upon the request or demand of any Governmental
Authority having jurisdiction over it, (f) in response to any order of any court or other
Governmental Authority or as may otherwise be required pursuant to any Requirement of Law, (g) in
connection with any litigation or similar proceeding, (h) that has been publicly disclosed other
than in breach of this Section, (i) to the National Association of Insurance Commissioners or any
similar organization or any nationally recognized rating agency that requires access to information
about a Lender’s investment portfolio in connection with ratings issued with respect to such Lender
or (j) in connection with the exercise of any remedy hereunder or under any other Loan Document.
10.15 Release of Collateral and Guarantee Obligations.
(a) Notwithstanding anything to the contrary contained herein or in any other Loan Document,
upon request of the Borrowers in connection with any Disposition of Property permitted by the Loan
Documents, the Administrative Agent shall (without notice to, or vote or consent of, any Lender, or
any affiliate of any Lender that is a party to any Specified Hedge Agreement or that is owed any
Funds Transfer and Deposit Account Liability) take such actions as shall be required to release its
security interest in any Collateral being Disposed of in such Disposition, and to release any
guarantee obligations under any Loan Document of any Person being Disposed of in such Disposition,
to the extent necessary to permit consummation of such Disposition in accordance with the Loan
Documents. In addition, and notwithstanding anything to the contrary contained herein or in any
other Loan Document, if the Borrowers, after using commercially reasonable efforts (as required
pursuant to the terms of a post-closing agreement to be entered into on the First Amendment
Effective Date among the Administrative Agent and the Borrowers), have failed to obtain landlord
consent to the previous grant of a leasehold mortgage on any of the leased real Properties listed
on Schedule 10.15 from the respective owner of such Property, the Administrative Agent shall
(without notice to, or vote or consent of, any Lender, or any affiliate of any Lender that is a
party to any Specified Hedge Agreement or that is owed any Funds Transfer and Deposit Account
Liability) take such actions as shall be required to release its Mortgage on such parcel of leased
real Property.
100
(b) Notwithstanding anything to the contrary contained herein or any other Loan Document, when all
Obligations (other than obligations in respect of any Specified Hedge Agreement and Funds Transfer
and Deposit Account Liability) have been paid in full, all Commitments have terminated or expired,
no Letter of Credit shall be outstanding, and all Obligations arising under Specified Hedge
Agreements have been terminated, satisfied in full or cash collateralized in the manner required
pursuant to the ISDA (together with any schedules thereto) relating to such Specified Hedge
Agreement or, in the event the ISDA (or such schedules) relating to such Specified Hedge Agreement
does not so require, in a manner reasonably satisfactory to the applicable Qualified Counterparty,
if any, and all Funds Transfer and Deposit Account Liability then outstanding, if any, has been
cash collateralized in a manner reasonably satisfactory to the Lender or Affiliate thereof that is
owed such liabilities, if required by such Lender or such Affiliate, as the case may be, upon
request of the Borrowers, the Administrative Agent shall (without notice to, or vote or consent of,
any Lender, or any affiliate of any Lender that is a party to any Specified Hedge Agreement or that
is owed any Funds Transfer and Deposit Account Liability) take such actions as shall be required to
release its security interest in all Collateral, and to release all guarantee obligations under any
Loan Document. Any such release of guarantee obligations shall be deemed subject to the provision
that such guarantee obligations shall be reinstated if after such release any portion of any
payment in respect of the Obligations guaranteed thereby shall be rescinded or must otherwise be
restored or returned upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of
any Borrower or any Subsidiary Guarantor, or upon or as a result of the appointment of a receiver,
intervenor or conservator of, or trustee or similar officer for, any Borrower or any Subsidiary
Guarantor or any substantial part of its Property, or otherwise, all as though such payment had not
been made.
10.16 Accounting Changes. In the event that any “Accounting Change” (as defined below) shall occur and such change
results in a change in the method of calculation of financial covenants, standards or terms in this
Agreement, then the Borrowers and the Administrative Agent agree to enter into negotiations in
order to amend such provisions of this Agreement so as to equitably reflect such Accounting Change
with the desired result that the criteria for evaluating the Borrowers’ financial condition shall
be the same after such Accounting Change as if such Accounting Change had not been made. Until
such time as such an amendment shall have been executed and delivered by the Borrowers, the
Administrative Agent and the Required Lenders, all financial covenants, standards and terms in this
Agreement shall continue to be calculated or construed as if such Accounting Change had not
occurred. “Accounting Change” refers to any change in accounting principles required by the
promulgation of any rule, regulation, pronouncement or opinion by the Financial Accounting
Standards Board of the American Institute of Certified Public Accountants or, if applicable, the
SEC.
101
10.17 Intentionally Omitted.
10.18 WAIVERS OF JURY TRIAL. EACH BORROWER, THE AGENTS AND THE LENDERS HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE
TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN
DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.
10.19 Joint and Several Liability. The obligations of the Borrowers hereunder and under the other Loan Documents are joint and
several. Without limiting the generality of the foregoing, reference is hereby made to Section 2
of the Guaranty and Collateral Agreement, to which the obligations of Borrowers and the other Loan
Parties are subject.
10.20 Effect of Amendment and Restatement of the Existing Credit Agreement. On the First Amendment Effective Date, the Existing Credit Agreement shall be amended,
restated and superseded in its entirety by this Agreement. The parties hereto acknowledge and
agree that (a) this Agreement and the other Loan Documents, whether executed and delivered in
connection herewith or otherwise, do not constitute a novation, payment and reborrowing, or
termination of the “Obligations” (as defined in the Existing Credit Agreement) under the Existing
Credit Agreement as in effect prior to the First Amendment Effective Date, (b) such “Obligations”
are in all respects continuing (as amended and restated hereby) with only the terms thereof being
modified as provided in this Agreement and (c) upon the effectiveness of this Agreement all Loans
of Lenders outstanding under the Existing Credit Agreement immediately before the effectiveness of
this Agreement will be and become Loans hereunder on the terms and conditions set forth in this
Agreement.
[Remainder of page intentionally left blank;
signature pages follow.]
102
IN WITNESS WHEREOF, the Borrower has caused this Agreement to be duly executed and delivered
by its proper and duly authorized officers as of the day and year first above written.
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BORROWER:
MAPCO EXPRESS, INC., a Delaware corporation
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By: |
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Name: |
Xxxx Xxx |
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Title: |
Chief Financial Officer |
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By: |
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Name: |
Xxxxxx X. Xxxxxxxx |
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Title: |
Vice President |
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[SIGNATURE PAGE FOR BORROWER]
IN WITNESS WHEREOF, the Administrative Agent has caused this Agreement to be duly
executed and delivered by its proper and duly authorized officer as of the day and year first above
written.
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ADMINISTRATIVE AGENT:
FIFTH THIRD BANK, an Ohio banking corporation,
as Administrative Agent
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By: |
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Name: |
Xxxx X. Xxxxx |
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Title: |
Vice President |
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[SIGNATURE PAGE FOR ADMINISTRATIVE AGENT]
IN WITNESS WHEREOF, the undersigned Lender has caused this Agreement to be duly executed
and delivered by its proper and duly authorized officer as of the day and year first above written.
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BMO CAPITAL MARKETS, as Co-Syndication Agent
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By: |
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Name: |
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Title: |
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BANK OF MONTREAL, as a Lender
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By: |
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Name: |
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Title: |
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[SIGNATURE PAGE FOR ADMINISTRATIVE AGENT]
IN WITNESS WHEREOF, the undersigned Lender has caused this Agreement to be duly executed
and delivered by its proper and duly authorized officer as of the day and year first above written.
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REGIONS BUSINESS CAPITAL, A DIVISION
OF REGIONS BANK, as Co-Syndication Agent
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By: |
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Name: |
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Title: |
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REGIONS BANK, as a Lender
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By: |
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Name: |
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Title: |
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[SIGNATURE PAGE FOR ADMINISTRATIVE AGENT]
IN WITNESS WHEREOF, the undersigned Lender has caused this Agreement to be duly executed
and delivered by its proper and duly authorized officer as of the day and year first above written.
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BANK HAPOALIM B.M., as a Lender and
as Documentation Agent
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By: |
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Name: |
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Title: |
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[SIGNATURE PAGE FOR ADMINISTRATIVE AGENT]
IN WITNESS WHEREOF, the undersigned Lender has caused this Agreement to be duly executed
and delivered by its proper and duly authorized officer as of the day and year first above written.
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, |
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as a Lender |
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By: |
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Name: |
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Title:
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Annex A
Existing Letter of Credit
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Issuer |
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Beneficiary |
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LC # |
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Fifth Third Bank
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BP
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S404622 |
Fifth Third Bank
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Valero
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S406077 |
XX Xxxxxx Xxxxx Bank
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Ace American Insurance
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CPCS-742372 |
Fifth Third Bank
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Valero
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S405566 |
Fifth Third Bank
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Conoco Xxxxxxxx
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S500259 |
Fifth Third Bank
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Exxon
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S404220 |
Fifth Third Bank
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Hartford Insurance Company
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S403970 |
Fifth Third Bank
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Flint Hills
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S407689 |
Fifth Third Bank
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Colonial
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S405613 |
Fifth Third Bank
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City of Franklin
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S406325 |
Fifth Third Bank
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City of Gallatin
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S500753 |
Fifth Third Bank
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City of Franklin
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S404581 |
Schedule 1.1A-1
Exempt Properties
Owned Property
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ID |
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Xxxxxxx |
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Xxxx |
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Xxxxx |
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Xxx |
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Xxxxxx |
Xxxxxx (x/x/x 0000)
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0000 X 00xx Xx
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Xxxxxxxx
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XX
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00000 |
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Xxxxxxx |
Residence
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000 Xxxxx Xxxxx
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Xxxxxxxxx
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XX
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00000 |
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Davidson |
Leased Property
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ID |
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Address |
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City |
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State |
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Zip |
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County |
1115
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X.X. Xxx 000/Xxx 00 Xxxx
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Xxxxxxxxxxxx
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XX
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00000 |
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Xxxxxx |
3097
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0000 Xxx 000 Xxxx
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Xxxxxxx
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XX
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00000 |
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Dade |
3201
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0000 00xx Xxxxxx Xxxxx
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Xxxxxxxxx
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XX
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00000 |
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Davidson |
3247
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0000 Xxxx Xxxx
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Xxxxxxxxxx
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XX
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00000 |
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Shelby |
3276
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0000 Xxxx Xxxxxx Xxxxx
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Xxxxxxx
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XX
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00000 |
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Shelby |
3292
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0000 Xxxxxxxx Xxxx Xxxx
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Xxxxxxx
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XX
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00000 |
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Shelby |
3298
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000 Xxxxx Xxxxxxxx
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Xxxxxxxx
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XX
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00000 |
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Xxxxxx |
3410
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0000 Xxxxxxx Xxxx
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Xxxxxxxxx
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XX
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00000 |
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Davidson |
3539
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000 Xxxxxxxx Xxxx
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Xxxxx Xxxxx
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XX
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00000 |
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Xxxxxxxx |
3540
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000 Xxxx Xxxx Xxxxxx
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Xxxxxxxxx
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XX
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00000 |
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Grundy |
3604
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0000 Xxxxxxx Xxxxxx
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Xxxx
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XX
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00000 |
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Xxxxx |
3608
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000 Xxxx Xxxx, XX
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Xxxxxxx
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XX
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00000 |
|
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Xxxxxx |
3617
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0000 Xxxxx Xxxxxxxx Xxxxxx
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Xxxxxx
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XX
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00000 |
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Xxxxxxxxx |
3626
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000 X. Xxxxxxxx Xxxxxx
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Xxxxxx
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XX
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00000 |
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Xxxxxxxxx |
0000
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Xx. 0, Xxx 00@Xxx000
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Xxxxxxxxx
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XX
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00000 |
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Xxxxxx |
0000
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X-00 @ Xxx 0X
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Xxxxxxxx
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XX
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00000 |
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Catoosa |
3641
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0000 Xxxxxxxxxxx Xxxx
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Xxxxx Xxxx
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XX
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00000 |
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Xxxxxxxxx |
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XX |
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Xxxxxxx |
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Xxxx |
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Xxxxx |
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Xxx |
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Xxxxxx |
3647
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000 Xxxxxxxxxx Xxxx Xxxx
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Xxxxxx Xxxx
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XX
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00000 |
|
|
Xxxxxxxxx |
3648
|
|
000 Xxxxx Xxxxxxx Xxxx
|
|
Xxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3652
|
|
00000 Xxx. 000
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3679
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3686
|
|
000 Xxxxxx Xxxxx Xx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 Xxx Xxx.
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3695
|
|
000 Xxx 00
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxx |
3697
|
|
0000 Xxxxxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
4044
|
|
00000 Xxxx Xxxxxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Chesterfield |
4050
|
|
000 Xxxxxxxxx Xxxx
|
|
Xxxxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Stafford |
4059
|
|
0000 Xxxx Xxxxx Xxxxxx
|
|
Xxxx Xxxxx
|
|
XX
|
|
|
00000 |
|
|
Henrico |
4062
|
|
00000 Xxxxx Xxxxxxx Xxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Fauquier |
5122
|
|
00000 XX Xxx 00 X/X.X. Xxx 000
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
0000
|
|
0000 Xxx 00 Xxxx
|
|
Xxxxxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
0000
|
|
0000 Xxx 00 Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Lauderdale |
5624
|
|
0000 Xxxxxxx Xxxxxx
|
|
Xxxxx
|
|
XX
|
|
|
00000 |
|
|
Chattooga |
5629
|
|
0000 Xxxxx/Xxxxxx Xxxx
|
|
Xxxxx
|
|
XX
|
|
|
00000 |
|
|
Chattooga |
5645
|
|
0000 Xxxxxxx Xxx 000 X
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
7455
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3155
|
|
000 Xxx 00 Xxxxx
|
|
Xxxx
|
|
XX
|
|
|
00000 |
|
|
St. Xxxxxxx |
3137
|
|
0000 Xxxx Xxxxxx
|
|
Xxxxxx Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
St. Xxxxxx Xxxxxx |
3340
|
|
0000 Xxxxxxxxx Xxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3704 (sign)
|
|
0000 Xxxxxxx Xxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxx |
5510 (f/k/a 5509)
|
|
0000 Xxx 000
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Dekalb |
7324 (sign)
|
|
00000 X-00
|
|
Xxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Pulaski |
Memphis Div Xxxxxx
|
|
0000 Xxxxxxxx Xxx.
|
|
Xxxxxxx
|
|
XX
|
|
|
|
|
|
Shelby |
Corporate Xxxxxx
|
|
0000 Xxxxxxxx Xxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
Virginia Div Office
|
|
One Colonial Place,
00000 Xxxxxxxxx Xx,
Xxxxx 000
|
|
Xxxx Xxxxx
|
|
XX
|
|
|
00000 |
|
|
Henrico |
Schedule 1.1A-2
Mortgage Amendments
Each of the amendments dated as of the date hereof to each of the Existing Mortgages as
identified in Section III.9. of the Closing Agenda attached to the First Amendment to this
Agreement as Exhibit B.
Schedule 1.1(C)
Revolving Credit Commitments
|
|
|
|
|
Fifth Third Bank |
|
$ |
47,500,000 |
|
Bank of Montreal |
|
$ |
28,500,000 |
|
Regions Bank |
|
$ |
28,500,000 |
|
Bank Hapolim B.M. |
|
$ |
28,500,000 |
|
US Bank, N.A. |
|
$ |
19,000,000 |
|
Bank Leumi USA |
|
$ |
14,250,000 |
|
XX Xxxxxx Xxxxx Bank, N.A. |
|
$ |
14,250,000 |
|
Israel Discount Bank of New York |
|
$ |
10,000,000 |
|
First Tennessee Bank National Association |
|
$ |
9,500,000 |
|
Schedule 2.4
“Revolving Credit Commitments”
under the Existing Credit Agreement
|
|
|
|
|
Fifth Third Bank |
|
$ |
45,925,000 |
|
Regions Bank |
|
$ |
9,875,000 |
|
Bank Hapoalim B.M. |
|
$ |
18,875,000 |
|
Bank Leumi USA |
|
$ |
18,875,000 |
|
JPMorgan Chase Bank, N.A. |
|
$ |
13,900,000 |
|
Israel Discount Bank of New York |
|
$ |
20,550,000 |
|
Schedule 4.1(b)
Guarantee Obligations
None.
Schedule 4.4
Consents
1. |
|
Transfer of ownership or a change of officers of the Borrowers or their Subsidiaries
upon foreclosure pursuant to the terms of certain of the Security Documents would require
consents or approval of, or registrations or filings with, certain Governmental Authorities
that have issued licenses and permits to the Borrowers and their Subsidiaries in order to
obtain such licenses and permits, including, without limitation, (i) licenses and permits
for the sale of alcohol, tobacco, fuel and lottery products, (ii) licenses and permits from
various city and county governmental authorities applicable to convenience store
operations, (iii) licenses and permits to operate or own underground storage tanks for
fuel, (iv) permits for the acceptance of electronic benefit transfers (i.e. food stamps),
and (v) money transmitter service license in the state of Alabama. |
2. |
|
The grant of certain security interests in equipment leases (or equipment leased
pursuant to such leases) and/or leasehold mortgages in real estate leases by Borrower or
its Subsidiaries as contemplated by the Loan Documents may require certain notices to
and/or consents of such lessors. |
Schedule 4.8(a)
Real Property of the Loan Parties
Owned Property
|
|
|
|
|
|
|
|
|
|
|
|
|
ID |
|
Address |
|
City |
|
State |
|
|
Zip |
|
|
County |
1004
|
|
000 Xxxxx Xxxxxxx Xxx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxx |
1018
|
|
0000 Xxxxxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
1033
|
|
000 Xxxx Xxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
1040
|
|
0000 Xxxxxxxxx Xxxx
|
|
Xxxxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
1060
|
|
000 Xxxxxxxxx Xxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxx |
1106
|
|
000 Xxxxx Xxxxx
|
|
Xx. Xxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
11151
|
|
X.X. Xxx 000/Xxx 00 Xxxx
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
1133
|
|
0000 Xxxxxxx Xxxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxx |
3005
|
|
0000 Xxxxx Xxxxxxxx
|
|
Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3009
|
|
0000 Xxx. 00 Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3065
|
|
0000 Xxxxxxxxx Xxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3142
|
|
0000 Xxxxx Xxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3148
|
|
0000 X.X. Xxx 00
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3150
|
|
0000 Xx. Xxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3154
|
|
0000 Xxx 00 Xxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xx. Xxxxxxx |
00000 (Xxxxxx 2)
|
|
000 Xxx 00 Xxxxx
|
|
Xxxx
|
|
XX
|
|
|
00000 |
|
|
St. Xxxxxxx |
3156
|
|
0000 Xxxxxx Xxxxx Xx\Xxxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3157
|
|
000 Xxxxxxx (Xxxxx Xxxxxx)
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3158
|
|
000 Xxxxx Xxxxxxxx Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3159
|
|
000 Xxxx Xxxxxx Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3162
|
|
0000 Xxxxxx Xx. (Xxxxxxx)
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3164
|
|
000 X. X. Xxxxx Xxxx.
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3165
|
|
0000 Xxxxx Xxxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3174
|
|
3703 Xxxxxxx (Orchi)
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3178
|
|
0000 Xxxx Xxxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Monroe |
3181
|
|
0000 X. 00xx (Xxxxxxxx)
|
|
Xxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Pulaski |
3184
|
|
0000 Xxxxxxxxxxx Xx.
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
|
|
|
1 |
|
Site includes both owned and leased Property. Borrower
owns the main site with improvements and leases a small parcel in front for
ROW. |
|
2 |
|
Site includes both owned and leased Property. Borrower
leases the main site with store and owns an adjacent parcel. |
|
|
|
|
|
|
|
|
|
|
|
|
|
ID |
|
Address |
|
City |
|
State |
|
|
Zip |
|
|
County |
3185
|
|
0000 Xxxxxxxxxxx Xx.
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3186
|
|
0000 Xxx Xxxx/XxXxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3187
|
|
0000 Xxxxxxxxxxxx Xx.
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3189
|
|
0000 Xxxxxxxxxxxx Xx.
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3202
|
|
0000 Xx. Xxxxxxxx Xxxx.
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Montgomery |
3208
|
|
000 Xxxxxx Xxxxx Xx.
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3215
|
|
0000 Xxxxx Xxxxxxxx Xx.
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3216
|
|
00000 Xxx Xxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3217
|
|
0000 Xxx 00 Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3219
|
|
000 Xxx Xxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3245
|
|
0000 Xxxxxx/XX Xxx 00
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3246
|
|
0000 Xxxxxxx Xxxx.
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3251
|
|
0000 Xxxxxxx Xxxxxxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3252
|
|
0000 Xxx Xxxxx Xx.
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3261
|
|
0000 Xxxxxxx Xxx.
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3262
|
|
0000 Xxxxxx Xxx.
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3265
|
|
0000 Xxx 00 X.
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3267
|
|
0000 Xxxxxxx Xx. X.
|
|
Xxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Desoto |
3269
|
|
0000 X. Xxxxxx Xx.
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3282
|
|
0000 Xx. Xxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3287
|
|
0000 Xxxxxxx Xxxx Xx.
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3291
|
|
0000 Xxxxx Xx.
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3295
|
|
0000 Xxxxxxx Xx.
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
32983
|
|
000 Xxxxx Xxxxxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3310
|
|
0000 Xxxxxxxxxx xx-xxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3331
|
|
000 Xxxxxxx Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3332
|
|
0000 Xxxxxxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3333
|
|
0000 Xxxxxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3334
|
|
000 Xxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3336
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3338
|
|
0000 Xxxxxxxxx Xxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
33404
|
|
0000 Xxxxxxxxx Xxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3341
|
|
00000 Xxxxxxx Xxxx
|
|
Xx. Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3343
|
|
000 Xxxx Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3344
|
|
0000 Xxxxxxxx Xxxx.
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3347
|
|
000 00xx Xxxxxx Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
|
|
|
3 |
|
Site includes both owned and leased Property. Borrower
owns the main site and improvements and leases two adjacent parcels. |
|
4 |
|
Site includes both owned and leased Property. Borrower
owns the parcel with the canopy and tanks and leases the parcel with the
building. |
|
|
|
|
|
|
|
|
|
|
|
|
|
ID |
|
Address |
|
City |
|
State |
|
|
Zip |
|
|
County |
3351
|
|
000 Xxxxx Xxxxxxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3352
|
|
0000 Xxxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3354
|
|
000 Xxxxx Xxxxxxx Xxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3400
|
|
000 Xxxx Xxxxxx Xxxx
|
|
Xxxxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3401
|
|
0000 Xxx Xxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3402
|
|
0000 Xxxxxx Xxxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3403
|
|
000 Xxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3404
|
|
0000 Xxxxxxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3405
|
|
0000 Xxxx Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3406
|
|
0000 XX Xxxxx Xxxxxx
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3407
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3408
|
|
0000 Xxxxxxxxxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3409
|
|
000 Xxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3411
|
|
0000 Xxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3412
|
|
0000 Xxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3413
|
|
00000 Xxx Xxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3414
|
|
0000 Xxx 00 Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3415
|
|
000 Xxx Xxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3416
|
|
000 Xxxxxxxxx Xxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3421
|
|
000 Xxxxx Xx Xxxxxx Xx
|
|
Xx Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3426
|
|
000 Xxxx Xxxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3427
|
|
000 Xxxxxxxxxx Xxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3501
|
|
000 Xxxxx 0xx Xxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3502
|
|
0000 Xxxxxxx Xxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Catoosa |
3503
|
|
000 Xxx 000
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Dade |
3507
|
|
0000 Xxxxxxxxx Xxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3508
|
|
000 X Xxxxxxxxxxx Xxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3509
|
|
0000 Xxxxxxx Xxxxx Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Cherokee |
3510
|
|
0000 Xxx Xxx Xxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3512
|
|
0000 Xxx 00 Xxxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3513
|
|
000 Xxxxxxxx Xxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3514
|
|
0000 Xxxxx 0xx Xxx 000
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3516
|
|
0000 Xxx 000 Xxxxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3519
|
|
0000 Xxxxxxxxxxx Xxxx
|
|
Xxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3520
|
|
0000 XX Xxx 00X
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3521
|
|
000 Xxxxx Xxxxxxx Xx
|
|
Xx. Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Catoosa |
3523
|
|
0000 Xxx 000
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Dade |
3524
|
|
000 Xxxxxx Xxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Dade |
3526
|
|
0000 Xxxxx Xxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Catoosa |
|
|
|
|
|
|
|
|
|
|
|
|
|
ID |
|
Address |
|
City |
|
State |
|
|
Zip |
|
|
County |
3529
|
|
000 Xxxxxxxx Xxxxxx
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Bartow |
3530
|
|
0000 Xxx 00
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3532
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3533
|
|
0000 Xxxxxx Xxxx
|
|
Xxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3534
|
|
000 Xxxx 00xx Xx.
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 X. Xxxxxxx Xxxxxx Xx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 Xxxxxx Xxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 Xxxxxxxx Xxx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 Xxxxxxxxx Xxxx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3543
|
|
000 Xxxxxxx Xxxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3544
|
|
0000 X. Xxxxxxx 00
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3606
|
|
0000 Xxxxxxx Xxx
|
|
Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxx |
3607
|
|
0000 Xxxxxx Xxxxx Xxx XX
|
|
Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxx |
3609
|
|
000 X. Xxxxx Xxx.
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3610
|
|
0000 X. Xxxxx Xxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3611
|
|
0000 Xxx 000 X.
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3612
|
|
000 Xxxxx Xxxxxxxx Xxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3613
|
|
0000 Xxxxx Xxxxx Xxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3614
|
|
0000 Xxxxxxxxx Xxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3615
|
|
0000 Xxxxxxxxxxx Xx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3616
|
|
0000 Xxxxxxxxx Xxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3620
|
|
0000 Xxxxxxxxx Xxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3621
|
|
0000 Xxxxxxxxx Xxxx XX
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3622
|
|
000 Xxxxxxxxx Xxxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3623
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3624
|
|
0000 Xxxxxxxxx Xx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3627
|
|
0000 Xxxxxxxxx Xx XX
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3628
|
|
0000 Xxx 000 X
|
|
Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3629
|
|
0000 Xxx 000
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
0000
|
|
00 Xxx 000
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
0000
|
|
X Xxx 000 & Xxx 000
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3637
|
|
0000 Xxx 00 X
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Catoosa |
3638
|
|
0000 Xxxxxxxxxxx Xxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Catoosa |
3640
|
|
0000 Xxx 00 X
|
|
Xxxx Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3644
|
|
000 Xxxxx Xx.
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3645
|
|
0000 XxXxxxxxx Xxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3649
|
|
0000 Xxx 00 X
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Madison |
3654
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
|
|
|
|
|
|
|
|
|
|
|
|
|
XX |
|
Xxxxxxx |
|
Xxxx |
|
Xxxxx |
|
|
Xxx |
|
|
Xxxxxx |
3655
|
|
0000 Xxxxxxx Xxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxx |
0000
|
|
Xxx 000 & Xxxx Xxxxxx Xx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Sequatchie |
3659
|
|
0000 Xxxxxxxxxx Xxx
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Lincoln |
3660
|
|
0000 Xxx 00
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 Xxxxxx Xxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 Xxx 000
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3665
|
|
Xxx 000 & Xxxx Xxxxxxx Xx XX
|
|
Xxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Polk |
3666
|
|
0000 Xxx Xxxxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3668
|
|
0000 Xxxx Xxx
|
|
Xxxxxx Xxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 Xxxx Xxx
|
|
Xxxxxx Xxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3671
|
|
000 Xxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Coffee |
3672
|
|
000 X. Xxxxxxx Xx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Coffee |
3674
|
|
000X Xxxxxx Xxx. Xxxx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 Xxxxxxxx Xxx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3677
|
|
0000 X. Xxxxx Xx.
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3678
|
|
0000 X. Xxxx Xx.
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 Xxxxxxxx Xx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 Xxxxxx Xxxx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3682
|
|
0000 Xxxxxx Xx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3683
|
|
000 Xxxxxxxx Xxxxxxx Xx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3685
|
|
000 Xxxxxx Xxxxx Xx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
36865
|
|
000 Xxxxxx Xxxxx Xx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 Xxx Xxx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3690
|
|
0000 Xxxxxxxxx Xxx Xx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 Xxx Xxx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 X. Xxxxxxxx Xxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3698
|
|
0000 Xxxxxxx Xxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxx |
3699
|
|
0000 Xxxxxxxxx Xxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxx |
3700
|
|
0000 X. Xxxxxx Xx.
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxx |
3701
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxx |
3702
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxx |
3703
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxx |
37046
|
|
0000 Xxxxxxx Xxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxx |
3705
|
|
0000 Xxxxxxx Xxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxx |
3706
|
|
000 X. Xxxxxxxx Xxxxxxx Xx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxx |
|
|
|
5 |
|
Site includes both owned and leased Property. Borrower
owns the main site and improvements and leases an adjacent parcel for parking. |
|
6 |
|
Site includes both owned and leased Property. Borrower
owns the main site and improvements and leases an adjacent parcel for signage. |
|
|
|
|
|
|
|
|
|
|
|
|
|
ID |
|
Address |
|
City |
|
State |
|
|
Zip |
|
|
County |
3707
|
|
000 Xxxx Xxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxx |
4031
|
|
4010 Wards Rd (29 South)
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
City of Lynchburg |
5101
|
|
0000 Xxxxxx Xx. Xxxxx
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Calhoun |
5102
|
|
0000 Xxxxxx Xx. Xxxxx
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Calhoun |
5107
|
|
22 Choccolocca
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Calhoun |
5108
|
|
000 Xxxxxx Xxxx Xxxxx
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Calhoun |
5113
|
|
0000 XX Xxx 000
|
|
Xxxxx
|
|
XX
|
|
|
00000 |
|
|
Calhoun |
5117
|
|
0000 Xxx 000/ XX Xxx 000
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Calhoun |
5118
|
|
000 Xxxxxxxx Xxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Calhoun |
5119
|
|
0000 Xxxxxxx Xxx 00
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Calhoun |
5120
|
|
000 Xxxxxx Xxxx Xxxxx
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Calhoun |
5123
|
|
000 Xxxxxxx Xxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Calhoun |
5124
|
|
0000 XX Xxx 000 X/XX Xxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Calhoun |
5146
|
|
0000 Xxxxxxx Xxxxx
|
|
Xxxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Etowah |
5148
|
|
0000 Xxx 000
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
5150
|
|
00000 XX Xxx 00
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxx |
5151
|
|
0000 Xxxxxxx Xxx 00
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
5157
|
|
0000 Xxxxxxxxx Xxxx. XX
|
|
Xxxx Xxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
5158
|
|
0000X Xxxxx Xxx. Xxxxx
|
|
Xxxx Xxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
5159
|
|
00000 XX Xxx 00
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
5160
|
|
0000 XX Xxx 00
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
5163
|
|
0000 Xxxxx Xxxxxx Xxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxx |
5165
|
|
0000 Xxxxx Xxx Xxxxx
|
|
Xxxx Xxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
5168
|
|
0000 Xxx 00
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
5169
|
|
000 XX Xxx 00
|
|
Xxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxx |
5174
|
|
00000 Xxx 00 Xxxx
|
|
Xxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
0000
|
|
0000 Xxx 00 X/XX Xxx 000
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
5176
|
|
0000 Xxxxxxxxx Xxxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
0000
|
|
00000 XX Xxx 00
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Talladega |
5181
|
|
00000 Xxx 0 Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Clay |
5182
|
|
00000 Xxx 0
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Clay |
5184
|
|
0000 Xxx 000 Xxxx
|
|
Xxxxxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
0000
|
|
000 Xxxxxxxx Xxxxxx
|
|
Xxxxxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Tallapoosa |
|
|
|
|
|
|
|
|
|
|
|
|
|
ID |
|
Address |
|
City |
|
State |
|
|
Zip |
|
|
County |
5188
|
|
00000 XX Xxx 00 Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
0000
|
|
0000 XX Xxx 00/XX Xxx 000
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
St. Clair |
5191
|
|
00000 XX Xxx 000
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
St. Clair |
5193
|
|
00000 XX Xxx 000
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Talladega |
5195
|
|
00000 Xxx 00
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Talladega |
5203
|
|
12245 XX 000/000 Xxxxx
|
|
Xxxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Madison |
5206
|
|
000 Xxxx Xxxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Madison |
5207
|
|
0000 Xxxxxx Xxxx XX
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Madison |
5208
|
|
00000 Xxxxx Xxxxxxxx Xxxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Madison |
5210
|
|
0000 Xxx 00 Xxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Madison |
5211
|
|
0000 Xxxx Xxxxxx Xxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Madison |
5212
|
|
00000 XX Xxx 00
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Limestone |
5213
|
|
00000 Xxx 00
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Lauderdale |
5214
|
|
0000 Xxxxxxxxxx Xxxx XX
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Madison |
5215
|
|
0000 Xxxxxx Xxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Lauderdale |
5216
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Lauderdale |
5217
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Lauderdale |
5218
|
|
0000 XX Xxx 00
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Madison |
5220
|
|
0000 Xxxxxxx Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Madison |
5221
|
|
S 000 Xxx Xxxxx Xxxxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Lauderdale |
5222
|
|
0000 Xxxxxx Xxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Lauderdale |
5224
|
|
0000 Xxxxx Xxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Lauderdale |
5250
|
|
000 Xxxxx Xxxxxxxx Xxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
5533
|
|
000 Xxxxxxxx Xxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
0000
|
|
000 Xxxxxxx Xxxxx
|
|
Xxxxxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
0000
|
|
00000 Xx Xxx 00
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
0000
|
|
00000 Xx Xxx 00
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxx |
5540
|
|
000 Xxxx Xxxxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Calhoun |
7301
|
|
0000 Xxxx Xxxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Lauderdale |
7317
|
|
000 Xxxxxxx Xx./Xxxxxxxx Xxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Poinsett |
7318
|
|
000 Xxxxxxxx Xxxxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
73247
|
|
00000 X-00
|
|
Xxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Pulaski |
|
|
|
7 |
|
Site includes both owned and leased Property. Borrower
owns the main site and improvements and leases a small adjacent parcel for a
sign. |
|
|
|
|
|
|
|
|
|
|
|
|
|
ID |
|
Address |
|
City |
|
State |
|
|
Zip |
|
|
County |
7328
|
|
0000 Xxxx X. Xxxxxxx Xxxx.
|
|
X. Xxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Pulaski |
7334
|
|
000 Xxxxxxx 00 Xxxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Poinsett |
7449
|
|
0000 Xxxxxx Xxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
7460
|
|
00 Xxxxx Xxxxxx & Xxxxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
Alabama Div Office (5001)
|
|
0000 Xxxxxxx Xxxxxx
|
|
Xxxx Xxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
Vacant (f/k/a/ 34047)
|
|
0000 Xxxxxx Xxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
Vacant (f/k/a 5004)
|
|
0000 X 00xx Xx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Calhoun |
Vacant (f/k/a 5510)
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Calhoun |
Residence
|
|
000 Xxxxx Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
Leased Property
|
|
|
|
|
|
|
|
|
|
|
|
|
ID |
|
Address |
|
City |
|
State |
|
Zip |
|
County |
1001
|
|
0000 Xxx Xxxxxxx Xxxx.
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
1007
|
|
0000 Xxxx Xxxx
|
|
Xxxxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
1010
|
|
000 X. Xxxxxxx Xxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
White |
1012
|
|
000 Xxxxxxxxx Xxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
1014
|
|
000 Xxxxxxxxx Xxxxxxx Xxxx
|
|
XxXxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
1115
|
|
X.X. Xxx 000/Xxx 00 Xxxx
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
1024
|
|
00 Xxxx Xxxxxx Xxxxxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
1027
|
|
000 Xxxxx Xxxxx Xxxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
1028
|
|
8631 Hwy 00 Xxxx/X-00 & Xxx 00
|
|
Xxxxx Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
1030
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
|
|
|
|
|
|
|
|
|
|
|
|
|
ID |
|
Address |
|
City |
|
State |
|
Zip |
|
County |
1043
|
|
000 Xxxxx Xxxx Xxxxxx
|
|
Xxxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
1044
|
|
000 Xxxxx Xxxx Xxxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxx |
1045
|
|
000 Xxxxxxxx Xxxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
1070
|
|
000 Xxx Xxxxxxxx Xxxx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxx |
0000
|
|
Xxx 000/Xxx-Xxxxxx Xxxx.
|
|
Xxxxxx Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
1092
|
|
0000 X.X.X. Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Macon |
1107
|
|
000 X.X. Xxxxxxxxx Xxxxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Limestone |
1134
|
|
000 Xxxx Xxxxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxx |
1149
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxx Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
2004
|
|
0000 Xxxx 00xx Xxxxxx
|
|
Xxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Pulaski |
2012
|
|
000 Xxxxxxxxx Xxxxxx Xxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Decatur |
3003
|
|
0000 Xxxxx Xxxxxxx Xxxx.
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3010
|
|
000 Xxxxxx Xxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3015
|
|
0000 Xxxxxx Xxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3037
|
|
0000 Xxxxxxx Xxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Lafayette Co. Gov |
3041
|
|
000 Xxxxxxx 00 Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3046
|
|
0000 Xxxxxxx 00 Xxxxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3054
|
|
000 Xxxxxxx Xxxx Xxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3056
|
|
1723 Xxxxxxx (Evergreen)
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3057
|
|
0000 Xxxxx Xxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3059
|
|
000 Xxxxxxxxxx Xxxx. @ X-00
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3063
|
|
000 Xxxx Xxxxx Xxxxxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
3064
|
|
000 Xxx 000 Xxxxx @ X-00
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3066
|
|
000 Xxxx Xxxxxx Xxxx
|
|
Xxxxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3068
|
|
0000 Xxxx Xxxx Xxxxxx
|
|
Xxxxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3097
|
|
0000 Xxx 000 Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Dade |
3137
|
|
0000 Xxxx Xxxxxx
|
|
Xxxxxx Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
St. Xxxxxx Xxxxxx |
3138
|
|
000 Xxxx Xxxxxxx Xxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3140
|
|
0000 Xxxxxxxx Xxxx.
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3143
|
|
000 Xxxxx Xxxxx Xxxxxx Xxxx.
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
|
|
|
|
|
|
|
|
|
|
|
|
|
ID |
|
Xxxxxxx |
|
Xxxx |
|
Xxxxx |
|
Xxx |
|
Xxxxxx |
0000 (Xxxxx 1)
|
|
0000 Xxxxxx Xxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3144 (Tract 0)
|
|
Xxxxxx Xxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3155 (Parcel 1)
|
|
000 Xxx 00 Xxxxx
|
|
Xxxx
|
|
XX
|
|
|
00000 |
|
|
St. Xxxxxxx |
3191
|
|
0000 Xxxxxx Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3193
|
|
0000 Xxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3194
|
|
000 Xxxxxxx Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3195
|
|
0000 Xxxxxxxxx Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3198
|
|
0000 Xxxx Xxx Xxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3200
|
|
1302 Xxxxx’x Xxxx Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3201
|
|
0000 00xx Xxxxxx Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3204
|
|
000 XxXxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3205
|
|
000 Xxx Xxxxxxxxxx Xxxx.
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Montgomery |
3212 (Parcel 1)
|
|
0000 Xxxxx’x Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3212 (Parcel 2)
|
|
0000 Xxxxx’x Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3214
|
|
00 Xxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3218
|
|
0000 Xxxxxxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3220
|
|
0000 Xxxxx Xxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3247
|
|
0000 Xxxx Xxxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3253
|
|
0000 Xxxxxxxxx Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3271
|
|
0000 Xxxxxxxxxx/Xxxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3276
|
|
0000 Xxxx Xxxxxx Xxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3280
|
|
0000 Xxxxx Xxxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3281
|
|
0000 Xxxxx Xxxxxxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
|
|
|
Shelby |
3283
|
|
0000 Xxxx Xxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3288
|
|
0000 Xxxxxxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3289
|
|
000 X. Xxxxxx Xxxxxx
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3292
|
|
0000 Xxxxxxxx Xxxx Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
3298
|
|
000 Xxxxx Xxxxxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3299
|
|
000 Xxxxxxx 00
|
|
Xxxxx Xxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
0000
|
|
00-X Xxxxxxxx Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3303
|
|
000 Xxxxxxx Xxxx/Xxxxxxxx Xxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
|
|
|
|
|
|
|
|
|
|
|
|
|
XX |
|
Xxxxxxx |
|
Xxxx |
|
Xxxxx |
|
Xxx |
|
Xxxxxx |
3304
|
|
0000 Xxxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3305
|
|
0000 Xxxxxxxxx Xxxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3306
|
|
0000 Xxxxxxxxxxxxx Xxxx
|
|
Xx. Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3307
|
|
0000 00xx Xxxxxx Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3311
|
|
000 Xxxxxxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3312
|
|
0000 X. Xxxxxx Xxxxxx
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3314
|
|
0000 Xxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3315
|
|
000 Xxxx Xxxx Xxxxxx
|
|
Xxxxxxxxxxxxxx
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XX
|
|
|
00000 |
|
|
Xxxxxx |
3316
|
|
0000 Xxxxxxxxx Xx.
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|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3317
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3318
|
|
000 Xxxxxxx Xxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3319
|
|
0000 Xxxxxxxxxxxxx Xxxx
|
|
Xxx Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3320
|
|
000 X. Xx. Xxxxxx Xxxx
|
|
Xx. Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
XXxxxx |
3321
|
|
000 Xxxxxxxx Xxxxx
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|
Xxxxxxxxx
|
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XX
|
|
|
00000 |
|
|
Davidson |
3322
|
|
000 Xxxxxxxx Xxxxx Xxxx
|
|
Xxxxxxxxx
|
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XX
|
|
|
00000 |
|
|
Davidson |
3323
|
|
0000 Xxxxxxx Xxxx
|
|
Xxxxxxxxx
|
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XX
|
|
|
00000 |
|
|
Davidson |
3324
|
|
000 Xxxxx Xxxxx
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|
Xxxxxxx
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XX
|
|
|
00000 |
|
|
Davidson |
3325
|
|
000 Xxxxxxx Xxxxx
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|
Xxxxxxxxx
|
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XX
|
|
|
00000 |
|
|
Davidson |
3326
|
|
000 Xxxxx Xxxxxxxx Xxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3327
|
|
0000 Xxxxxxx 00 Xxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3328
|
|
000 Xxx Xxxxxxx
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|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3340
|
|
0000 Xxxxxxxxx Xxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3353
|
|
000 Xxxxxxxxxx Xxxx
|
|
Xxxxxxxx
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|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3378
|
|
0000 Xxxxxxxxxxxx Xxxx
|
|
Xxxxxxxx
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|
XX
|
|
|
00000 |
|
|
XXxxxxxxxx |
3410
|
|
0000 Xxxxxxx Xxxx
|
|
Xxxxxxxxx
|
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XX
|
|
|
00000 |
|
|
Davidson |
3417
|
|
000 Xxxx Xxxx Xxxxxx
|
|
Xxxxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3418
|
|
0000 Xxxxxxxx Xxxx Xxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3419
|
|
0000 Xxxxxxxxx Xxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3420
|
|
0000 0xx Xxxxxx Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3424
|
|
0000 Xxxxxxx Xx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
0000
|
|
Xxxx Xxxxx, Xxx 00/Xxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3504
|
|
0000 Xxx Xxxxx Xxxxxx Xxxx
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Bartow |
3505
|
|
000 Xxxx Xxxx Xxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
|
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|
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XX |
|
Xxxxxxx |
|
Xxxx |
|
Xxxxx |
|
Xxx |
|
Xxxxxx |
3506
|
|
0000 Xxxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Catoosa |
3511
|
|
000 Xxxxxxxxxx Xxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3515
|
|
0000 Xxxxxxx Xxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3517
|
|
0000 Xxx 00
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3522
|
|
000 Xxxxxxxxxxx Xxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3525
|
|
000 Xxxxxxxx Xxxx Xxxx
|
|
Xxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Dade |
3527
|
|
000 XXX Xxxxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Polk |
3528
|
|
000 Xxxxxxxxxxxx Xxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Polk |
3539
|
|
000 Xxxxxxxx Xxxx
|
|
Xxxxx Xxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3540
|
|
000 Xxxx Xxxx Xxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Grundy |
3600
|
|
6434 J. Xxxxx Xxxxxx Xxxxxxx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Bartow |
3601
|
|
0000 Xxx Xxxxxxx Xxxx
|
|
Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxx |
3602
|
|
0000 X. Xxxxx Xxxxxx
|
|
Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxx |
3603
|
|
0000 Xxxxxxxxxxx Xxx.
|
|
Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxx |
3604
|
|
0000 Xxxxxxx Xxxxxx
|
|
Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxx |
3605
|
|
0000 Xxxxxx Xxxxx Xxxx
|
|
Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxx |
3608
|
|
000 Xxxx Xxxx, XX
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3617
|
|
0000 Xxxxx Xxxxxxxx Xxxxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3618
|
|
0000 Xxxxxxx Xxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3625
|
|
0000 X. Xxxxxx Xxxxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3626
|
|
000 X. Xxxxxxxx Xxxxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
0000
|
|
Xx. 0, Xxx 00@Xxx000
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3633
|
|
0000 Xxxxxxxxxx Xxx., XX
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
0000
|
|
Xxxxxxx 000 & Xxxxxxx 00
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Catoosa |
0000
|
|
X-00 @ Xxx 0X
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Catoosa |
3639
|
|
0000 Xxxxxxx Xxx.
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Catoosa |
3641
|
|
0000 Xxxxxxxxxxx Xxxx
|
|
Xxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3642
|
|
000 XxXxxxxxx Xxxx
|
|
Xxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3643
|
|
0000 Xxxxxxxx Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Catoosa |
3647
|
|
000 Xxxxxxxxxx Xxxx Xxxx
|
|
Xxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3648
|
|
000 Xxxxx Xxxxxxx Xxxx
|
|
Xxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
3652
|
|
00000 Xxx. 000
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3663
|
|
0000 Xxxx Xxxx Xxxx
|
|
Xxxxxxx Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
|
|
|
|
|
|
|
|
|
|
|
|
|
ID |
|
Address |
|
City |
|
State |
|
Zip |
|
County |
0000
|
|
Xxx 000 & Xxx 00
|
|
Xxxxx
|
|
XX
|
|
|
00000 |
|
|
Polk |
3667
|
|
00000 Xxxxxx Xxxx
|
|
Xxxx Xxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3673
|
|
0000 X. Xxxxx Xxxxxx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3686
|
|
000 Xxxxxx Xxxxx Xx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 Xxx Xxx.
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 X. Xxxxxxxx Xxxx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
3695
|
|
000 Xxx 00
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxx |
3696
|
|
0000 Xxxxxxxx Xxxx Xxxx.
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3697
|
|
0000 Xxxxxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3704
|
|
0000 Xxxxxxx Xxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxx |
4044
|
|
00000 Xxxx Xxxxxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Chesterfield |
4050
|
|
000 Xxxxxxxxx Xxxx
|
|
Xxxxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
0000
|
|
0000 Xxxxxx Xxxxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Prince Xxxxxx |
4059
|
|
0000 Xxxx Xxxxx Xxxxxx
|
|
Xxxx Xxxxx
|
|
XX
|
|
|
00000 |
|
|
Henrico |
4061
|
|
000 Xxxxxxx Xxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Hanover |
4062
|
|
00000 Xxxxx Xxxxxxx Xxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Fauquier |
4064
|
|
0000 Xxxxxxx Xxxxx Xxxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
4065
|
|
00000 Xxxxxxxx Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Chesterfield |
5103
|
|
000 Xxxxx Xxxxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxx |
5105
|
|
0000 XX Xxx 000 X.
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxx |
5111
|
|
0000 Xxxxxxxx Xxxx.
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
0000
|
|
000 XX Xxx 000 Xxxxxx X
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxx |
5114
|
|
0000 Xxxxxxxxxx Xxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxx |
5116
|
|
0000 Xxxxxxx Xxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxx |
5121
|
|
00000 Xxx 00
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
0000
|
|
00000 XX Xxx 00 X/X.X. Xxx 000
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx |
0000
|
|
000 Xxxxxxxx Xxxxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxx |
5130
|
|
0000 Xxxxx Xxxxxx Xxxx.
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Tuscaloosa |
5131
|
|
0000 XxXxxxxxx Xxxx.
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Tuscaloosa |
5132
|
|
00000 XX Xxx 00 X
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Tuscaloosa |
5142
|
|
000 Xxxxxxxx Xxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Cherokee |
5143
|
|
00 Xxxxxx Xxxxxxx Xxxx
|
|
Xxxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Etowah |
5145
|
|
0000 XxXxxx Xxxxxxx Xxxx
|
|
Xxxx Xxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
5149
|
|
0000 Xxxxxxxxx Xxxx. XX
|
|
Xxxx Xxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
5152
|
|
00 Xxxx Xxxxxx Xxxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
5153
|
|
0000 Xxxxx Xxxx.
|
|
Xxxx Xxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
5155
|
|
00000 XX Xxx 00 & 000
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
|
|
|
|
|
|
|
|
|
|
|
|
|
ID |
|
Address |
|
City |
|
State |
|
Zip |
|
County |
5166
|
|
0000 Xxxxx Xxxxxx Xxxxx
|
|
Xxxx Xxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
5167
|
|
0000 Xxxxx Xxxx.
|
|
Xxxx Xxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
5172
|
|
0000 Xxxx Xxxxxx Xxxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
5177
|
|
0000 Xxx 00 Xxxx
|
|
Xxxxxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
0000
|
|
0000 Xxxx Xxxxxxxxxx Xxxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxx |
0000
|
|
XX Xxx 000 & Xx Xxx 00
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Coosa |
5192
|
|
00000 XX Xxx 000
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
St. Clair |
5196
|
|
0000 Xxxx Xxxxx Xxxxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxx |
5204
|
|
0000 Xxx 000 Xxxxx
|
|
Xxxxx Xxxxx
|
|
XX
|
|
|
00000 |
|
|
Madison |
5205
|
|
00000 Xxxx Xxxxxxxxx Xxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Limestone |
5219
|
|
0000 Xxx 00 Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Lauderdale |
5225
|
|
000 Xxxxxx Xxx Xxxx
|
|
Xxxxxx Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Colbert |
5510 (f/k/a 5509)
|
|
0000 Xxx 000
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
5515
|
|
0000 Xxx 000
|
|
Xxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
DeKalb |
5546
|
|
0000 Xxxxxxx Xxxxxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
5547
|
|
0000 Xxxxx Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby |
5624
|
|
0000 Xxxxxxx Xxxxxx
|
|
Xxxxx
|
|
XX
|
|
|
00000 |
|
|
Chattooga |
5629
|
|
0000 Xxxxx/Xxxxxx Xxxx
|
|
Xxxxx
|
|
XX
|
|
|
00000 |
|
|
Chattooga |
5645
|
|
0000 Xxxxxxx Xxx 000 X
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
7324 (sign)
|
|
00000 X-00
|
|
Xxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Pulaski |
7326
|
|
0000 Xxxx Xxxxx Xxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxx |
7455
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
3058-1
|
|
0000 X-00
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3058-2
|
|
0000 X-00
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
3058-3
|
|
0000 X-00
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
Corporate Xxxxxx
|
|
0000 Xxxxxxxx Xxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx |
Memphis Div Xxxxxx
|
|
0000 Xxxxxxxx Xxx.
|
|
Xxxxxxx
|
|
XX
|
|
|
|
|
|
Shelby |
Nashville Div
Office (3321)
|
|
000 Xxxxxxxx Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson |
Virginia Div Office
|
|
One Colonial Place, 10571
Telegraph Rd, Suite 107
|
|
Xxxxx Xxxxx
|
|
VA
|
|
|
23059 |
|
|
Henrico |
Schedule 4.8(b)
Ownership of Property
None.
Schedule 4.15
Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
Percentage of Capital |
|
Class of Capital Stock |
|
|
|
|
Stock |
|
Owned by Loan |
Name |
|
Jurisdiction |
|
Owned by Loan Parties |
|
Parties |
|
|
|
|
|
|
|
Gasoline Associated
Services, Inc.
|
|
Alabama
|
|
100% owned by MAPCO
Express, Inc.
|
|
Common |
|
|
|
|
|
|
|
Liberty Wholesale Co., Inc.
|
|
Alabama
|
|
100% owned by MAPCO Express, Inc.
|
|
Common |
Schedule 7.2
Existing Capital Lease Obligations and Purchase Money Indebtedness
Capital Lease Obligations owing pursuant to that certain Lease Agreement dated October 1, 1999,
between Elmo Giddens, as lessor, and MAPCO Express, Inc., as lessee and successor in interest to
Calfee Company of Dalton, Inc., in the aggregate amount of $734,852.00 as of November 30, 2010.
Schedule 7.3(f)
Permitted Liens Securing Purchase Money Indebtedness and Capital Lease Obligations
Any liens, statutory or otherwise, securing the capital lease obligation pursuant to that certain
Lease Agreement dated October 1, 1999, between Elmo Giddens, as lessor, and MAPCO Express, Inc., as
lessee and successor in interest to Calfee Company of Dalton, Inc.
Schedule 10.15
Specified Leased Properties
|
|
|
|
|
|
|
|
|
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|
|
Store |
|
Address |
|
City |
|
State |
|
Zip |
|
County |
|
|
|
|
|
|
|
|
|
1107
|
|
801 S.E. Jefferson Street
|
|
Athens
|
|
AL
|
|
|
35611 |
|
|
Limestone |
3068
|
|
1187 West Main Street
|
|
Hendersonville
|
|
TN
|
|
|
37075 |
|
|
Sumner |
3140
|
|
1301 Memorial Blvd.
|
|
Springfield
|
|
TN
|
|
|
37172 |
|
|
Robertson |
3144 (Tract 1)
|
|
5325 Summer Avenue
|
|
Memphis
|
|
TN
|
|
|
38122 |
|
|
Shelby |
3144 (Tract 2)
|
|
Summer Avenue
|
|
Memphis
|
|
TN
|
|
|
38122 |
|
|
Shelby |
3191
|
|
5001 Linbar Drive
|
|
Nashville
|
|
TN
|
|
|
37211 |
|
|
Davidson |
3302
|
|
26-A Tusculum Road
|
|
Antioch
|
|
TN
|
|
|
37013 |
|
|
Davidson |
3304
|
|
3053 Dickerson Road
|
|
Nashville
|
|
TN
|
|
|
37207 |
|
|
Davidson |
3305
|
|
1218 Hazelwood Drive
|
|
Smyrna
|
|
TN
|
|
|
37167 |
|
|
Rutherford |
3306
|
|
5500 Saundersville Road
|
|
Mt. Juliet
|
|
TN
|
|
|
37122 |
|
|
Wilson |
3312
|
|
2430 S. Church Street
|
|
Murfreesboro
|
|
TN
|
|
|
37130 |
|
|
Rutherford |
3315
|
|
770 East Main Street
|
|
Hendersonville
|
|
TN
|
|
|
37075 |
|
|
Sumner |
3316
|
|
1883 Almaville Road
|
|
Smyrna
|
|
TN
|
|
|
37167 |
|
|
Rutherford |
3320
|
|
194 S. Mt. Juliet Road
|
|
Mt. Juliet
|
|
TN
|
|
|
37122 |
|
|
Wilson |
3322
|
|
585 Stewarts Ferry Pike
|
|
Nashville
|
|
TN
|
|
|
37214 |
|
|
Davidson |
3325
|
|
311 Harding Place
|
|
Nashville
|
|
TN
|
|
|
37211 |
|
|
Davidson |
3327
|
|
7725 Highway 70 South
|
|
Bellevue
|
|
TN
|
|
|
37221 |
|
|
Davidson |
3328
|
|
626 Old Hickory
|
|
Nashville
|
|
TN
|
|
|
37209 |
|
|
Davidson |
4058
|
|
4707 County Drive
|
|
Disputanta
|
|
VA
|
|
|
23842 |
|
|
Prince George |
4061
|
|
801 England Street
|
|
Ashland
|
|
VA
|
|
|
23005 |
|
|
Hanover |
4065
|
|
13200 Kingston Road
|
|
Chester
|
|
VA
|
|
|
23836 |
|
|
Chesterfield |
|
|
|
|
|
|
|
|
|
|
|
|
|
Store |
|
Address |
|
City |
|
State |
|
Zip |
|
County |
3212 (Parcel 1)
|
|
8007 Moore’s Lane
|
|
Brentwood
|
|
TN
|
|
|
37027 |
|
|
Williamson |
3303
|
|
501 Liberty Pike/Sycamore Drive
|
|
Franklin
|
|
TN
|
|
|
37064 |
|
|
Williamson |
3314
|
|
4401 Harding Road
|
|
Nashville
|
|
TN
|
|
|
37205 |
|
|
Davidson |
3317
|
|
2924 Franklin Road
|
|
Murfreesboro
|
|
TN
|
|
|
37129 |
|
|
Rutherford |
3318
|
|
588 Waldron Road
|
|
Lavergne
|
|
TN
|
|
|
37086 |
|
|
Rutherford |
3319
|
|
4337 Saundersville Road
|
|
Old Hickory
|
|
TN
|
|
|
37138 |
|
|
Davidson |
3321
|
|
710 Stewarts Ferry
|
|
Nashville
|
|
TN
|
|
|
37214 |
|
|
Davidson |
3323
|
|
3900 Lebanon Road
|
|
Hermitage
|
|
TN
|
|
|
37076 |
|
|
Davidson |
3324
|
|
401 Myatt Drive
|
|
Madison
|
|
TN
|
|
|
37115 |
|
|
Davidson |
4064
|
|
6460 Boydton Plank Road
|
|
Petersburg
|
|
VA
|
|
|
23803 |
|
|
Dinwiddie |
5547
|
|
3589 James Road
|
|
Memphis
|
|
TN
|
|
|
38128 |
|
|
Shelby |
3058
|
|
3262 I-55
|
|
Marion
|
|
AR
|
|
|
|
|
|
Crittendon |
EXHIBIT A
Form of Borrower Joinder Document
JOINDER TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT AND NOTES
This JOINDER TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT AND NOTES (this “Agreement”)
dated as of this
_____
day of
_____, 200_____
from [New Borrower], a
_____
(“New
Borrower”), to Fifth Third Bank, an Ohio banking corporation, in its capacity as administrative
agent for the benefit of the Administrative Agent, the Lenders, and the other Secured Parties (in
such capacity, together with its successors and assigns, “Administrative Agent”).
WITNESSETH THAT:
WHEREAS, certain parties (the “Existing Borrowers”) have entered into that certain Second
Amended and Restated Credit Agreement dated as of December 10, 2009 or executed and delivered
joinders thereto (such Second Amended and Restated Credit Agreement, as the same may from time to
time be amended, restated, supplemented or otherwise modified, including without limitation
pursuant to joinders thereto which add additional parties as Borrowers thereunder, being
hereinafter referred to as the “Credit Agreement”) with the other Loan Parties party thereto, the
Administrative Agent and the Lenders from time to time a party thereto, whereby Administrative
Agent and the Lenders have agreed to provide certain credit facilities and financial accommodations
to the Borrowers thereunder; and
WHEREAS, it is a condition to the continuing extension of Loans and other financial
accommodations by the Secured Parties under the Credit Agreement that the New Borrower be joined as
a party to the Credit Agreement and all Notes, if any, executed by Existing Borrowers; and
WHEREAS, it is to the direct economic benefit of New Borrower to execute and deliver this
Agreement and be joined as a party to the Credit Agreement and all Notes, if any, executed by
Existing Borrowers.
NOW, THEREFORE, FOR VALUE RECEIVED, and in consideration of advances made or to be made, or
credit accommodations given or to be given, to New Borrower and the Existing Borrowers by Secured
Parties from time to time, New Borrower hereby agrees as follows:
1. New Borrower acknowledges and agrees that it is a “Borrower” and a “Loan Party” under the
Credit Agreement and the Notes, if any, effective upon the date of New Borrower’s execution of this
Agreement. All references in the Credit Agreement and the Notes, if any, to the term “Borrower”,
“Borrowers”, “Loan Party” or “Loan Parties” shall be deemed to include the New Borrower. Without
limiting the generality of the foregoing, New Borrower hereby repeats and reaffirms all covenants,
agreements, representations and warranties contained in the Credit Agreement and the Notes, if any.
2. New Borrower hereby acknowledges and agrees that it is jointly and severally liable for the
all the Obligations under the Credit Agreement and the Notes, if any, to the same extent and with
the same force and effect as if New Borrower had originally been one of the Existing Borrowers
under the Credit Agreement and the Notes, if any, and had originally executed the same as such an
Existing Borrower. Except as specifically modified hereby, all of the terms and conditions of the
Credit Agreement and Notes, if any, shall remain unchanged and in full force and effect.
3. New Borrower agrees to execute and deliver such further instruments and documents and do
such further acts and things as the Administrative Agent may deem reasonably necessary or proper to
carry out more effectively the purposes of this Agreement.
4. No reference to this Agreement need be made in the Credit Agreement or in any other Loan
Document or other document or instrument making reference to the same, any reference to Loan
Documents in any of such to be deemed a reference to the Credit Agreement, or other Loan Documents,
as applicable, as modified hereby.
5. The laws of the State of New York shall govern all matters arising out of, in connection
with or relating to this Agreement, including, without limitation, its validity, interpretation,
construction, performance and enforcement.
[Remainder of Page Intentionally Left Blank;
Signature Page Follows]
2
Witness the due execution hereof by the respective duly authorized officers of the undersigned
as of the date first written above.
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NEW BORROWER: |
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[New Borrower], a |
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By: |
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Name: |
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Its:
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Acknowledged and accepted as of the year and |
|
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date first written above: |
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ADMINISTRATIVE AGENT: |
|
|
|
|
|
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|
|
FIFTH THIRD BANK, an Ohio banking |
|
|
corporation, as the Administrative Agent |
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By: |
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Name: |
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Its:
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EXHIBIT B
FORM OF COMPLIANCE CERTIFICATE
This Compliance Certificate is delivered pursuant to Section 6.2 of the Second Amended and
Restated Credit Agreement, dated as of December 10, 2009, as amended, supplemented or modified from
time to time (the “Credit Agreement”), among MAPCO EXPRESS, INC., a Delaware corporation
(“MAPCO Express”, together with each other Person who becomes a borrower thereunder by
execution of a joinder, as “Borrowers”), the Lenders parties thereto, FIFTH THIRD BANK, an
Ohio banking corporation, as joint lead arranger and sole bookrunner (in such capacity, the
“Arranger”), FIFTH THIRD BANK, an Ohio banking corporation, as administrative agent (in
such capacity, the “Administrative Agent”), and others. Terms defined in the Credit
Agreement are used herein as therein defined.
The undersigned hereby certifies to the Arranger, the Agents and the Lenders as follows:
1. I am the duly elected, qualified and acting [Chief Financial Officer] [Vice President -
Finance] of the Borrowers.
2. I have reviewed and am familiar with the contents of this Certificate.
3. I have reviewed the terms of the Credit Agreement and the Loan Documents and have made or
caused to be made under my supervision, a review in reasonable detail of the transactions and
condition of the Borrowers during the accounting period covered by the financial statements
attached hereto as Attachment 1 (the “Financial Statements”). Such review did not
disclose the existence during or at the end of the accounting period covered by the Financial
Statements, and I have no knowledge of the existence, as of the date of this Certificate, of any
condition or event which constitutes a Default or Event of Default[, except as set forth below].
4. Attached hereto as Attachment 2 are the computations showing compliance with the
covenants set forth in Sections 7.1, 7.2, 7.5 7.6 and 7.7 of the Credit Agreement.
5. Since the First Amendment Effective Date:
(a) No Loan Party has changed its name, identity or corporate structure;
(b) No Loan Party has changed its jurisdiction of organization or the location of its
chief executive office;
(c) No Inventory or Equipment (as such terms are defined in the Guarantee and
Collateral Agreement) having a value in excess of $100,000 is being kept at any location
other than the locations listed in Schedule 5 to the Guarantee and Collateral Agreement; and
(d) No Loan Party has acquired any material Intellectual Property; except, in each
case, (i) any of the foregoing that has been previously disclosed in writing to the
Administrative Agent and in respect of which the Borrowers have delivered to the
Administrative Agent all required UCC financing statements and other filings required
to maintain the perfection and priority of the Administrative Agent’s security interest in
the Collateral after giving effect to such event, in each case as required by Section 5.6 of
the Guarantee and Collateral Agreement and (ii) any of the foregoing described in
Attachment 3 hereto in respect of which the Borrowers are delivering to the
Administrative Agent herewith all required UCC financing statements and other filings
required to maintain the perfection and priority of the Administrative Agent’s security
interest in the Collateral after giving effect to such event, in each case as required by
Section 5.6 of the Guarantee and Collateral Agreement.
6. Since December 31, 2009 there has been no development or event that has had or would
reasonably be expected to have a Material Adverse Effect.
7. Since the First Amendment Effective Date:
(a) No Loan Party has acquired any Property of the type described in Section 6.10(a) of
the Credit Agreement as to which the Administrative Agent does not have a perfected Lien
pursuant to the Security Documents;
(b) No Loan Party has acquired any fee or leasehold interest in any real property
[(except as described in Attachment 4 hereto)];
(c) No Loan Party has formed or acquired any Subsidiary (and no Foreign Subsidiary that
was an Excluded Foreign Subsidiary has ceased to be an Excluded Foreign Subsidiary); and
(d) No Loan Party has acquired or formed any Excluded Foreign Subsidiary; except, in
each case, (i) any of the foregoing that has been previously disclosed in writing to the
Administrative Agent and in respect of which the Borrowers have taken all actions required
by Section 6.10 of the Credit Agreement with respect thereto and (ii) any of the foregoing
described in Attachment 3 hereto in respect of which the Borrowers are concurrently
herewith taking all actions required by Section 6.10 of the Credit Agreement with respect
thereto.
IN WITNESS WHEREOF, the undersigned has executed this Compliance Certificate as of the date
set forth below.
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MAPCO EXPRESS, INC. |
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By: |
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Title:
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Date: , 20__
Attachment 1
to Exhibit B
[Attach Financial Statements]
Attachment 2
to Exhibit B
The information described herein is as of
, 20_____, and pertains to the period from
, 20_____ to
, 20_____.
[Set forth Covenant Calculations]
EXHIBIT B-5
Attachment 3
to Exhibit B
Disclosure of Events Pursuant to Section 5.6 of Guarantee and Collateral
Agreement and Section 6.10 of the Credit Agreement
Attachment 4
to Exhibit B
Disclosure of acquired fee or leasehold interest in any real property
EXHIBIT C
FORM OF CLOSING CERTIFICATE
This Closing Certificate is delivered in connection with that certain First Amendment to
Second Amended and Restated Credit Agreement, dated as of December 23, 2010 (the “First Amendment”)
among MAPCO EXPRESS, INC., a Delaware corporation (“MAPCO Express”, together with each other Person
who becomes a borrower under the Credit Agreement by execution of a joinder, as “Borrowers”), the
Lenders parties thereto, FIFTH THIRD BANK, as joint lead arranger and sole bookrunner (in such
capacity, the “Arranger”), FIFTH THIRD BANK, an Ohio banking corporation, as administrative
agent (in such capacity, the “Administrative Agent”), and others. The First Amendment
amends in certain respects the Second Amended and Restated Credit Agreement, dated as of December
10, 2009 (as amended by the First Amendment, the “Credit Agreement”) by and among the Borrowers,
Administrative Agent, Arranger and the other Persons party thereto from time to time. Terms defined
in the Credit Agreement are used herein as therein defined.
The undersigned [INSERT TITLE OF OFFICER] of [INSERT NAME OF COMPANY] (the “Company”) hereby
certifies to the Arranger, the Agents and the Lenders as follows:
1. The representations and warranties of the Company set forth in each of the Loan Documents
to which it is a party or which are contained in any certificate furnished by or on behalf of the
Company pursuant to any of the Loan Documents to which it is a party are true and correct in all
material respects on and as of the date hereof with the same effect as if made on the date hereof,
except for representations and warranties expressly stated to relate to a specific earlier date, in
which case such representations and warranties were true and correct in all material respects as of
such earlier date.
2. _________
is the duly elected and qualified Corporate Secretary of the Company
and the signature set forth for such officer below is such officer’s true and genuine signature.
3. No Default or Event of Default has occurred and is continuing as of the date hereof or
after giving effect to the Loans to be made (or deemed made) on the date hereof. [Borrowers only]
4. The conditions precedent set forth in Section 5.1 of the Credit Agreement were satisfied as
of the First Amendment Effective Date. [Borrowers only]
The undersigned Corporate Secretary of the Company certifies as follows:
1. There are no liquidation or dissolution proceedings pending or to my knowledge threatened
against the Company, nor has any other event occurred adversely affecting or threatening the
continued corporate existence of the Company.
2. The Company is a corporation duly incorporated, validly existing and in good standing under
the laws of the jurisdiction of its organization.
1
3. Attached hereto as Annex 1 is a true and complete copy of resolutions duly adopted
by the Board of Directors of the Company on ________, 2010; such resolutions have not in any
way been amended, modified, revoked or rescinded, have been in full force and effect since their
adoption to and including the date hereof and are now in full force and effect and are the only
corporate proceedings of the Company now in force relating to or affecting the matters referred to
therein.
4. Attached hereto as Annex 2 is a true and complete copy of the By-Laws of the
Company as in effect on the date hereof.
5. Attached hereto as Annex 3 is a true and complete copy of the Certificate of
Incorporation of the Company as in effect on the date hereof, and such certificate has not been
amended, repealed, modified or restated.
6. The following persons are now duly elected and qualified officers of the Company holding
the offices indicated next to their respective names below, and the signatures appearing opposite
their respective names below are the true and genuine signatures of such officers, and any two of
such officers are duly authorized to execute and deliver on behalf of the Company each of the Loan
Documents to which it is a party and any certificate or other document to be delivered by the
Company pursuant to the Loan Documents to which it is a party:
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Name
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Office
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Date
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Signature |
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2
IN WITNESS WHEREOF, the undersigned have executed the Closing Certificate as of the date set
forth below.
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Name:
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Name: |
Title:
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Title: |
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Date: _______, 2010 |
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|
ANNEX 1
[Board Resolutions]
Annex 1 - 1
ANNEX 2
[By Laws of the Company]
Annex 2 - 1
ANNEX 3
[Certificate of Incorporation]
Annex 3 - 1
EXHIBIT D
FORM OF MORTGAGE
After recording please return to:
Katten Muchin Rosenman LLP
525 West Monroe Street
Chicago, Illinois 60661
Attention:
_____
MORTGAGE, SECURITY AGREEMENT, ASSIGNMENT OF LEASES AND RENTS, AND
FIXTURE FILING
made by
MAPCO EXPRESS, INC., Mortgagor,
to
FIFTH THIRD BANK, an Ohio banking corporation, as administrative agent, Mortgagee
Dated as of ________ ___, 20__
TABLE OF CONTENTS
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Page |
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Background |
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1 |
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Granting Clauses |
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2 |
|
Terms and Conditions |
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4 |
|
1. Defined Terms |
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4 |
|
2. Warranty of Title |
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5 |
|
3. Payment of Obligations |
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5 |
|
4. Requirements |
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5 |
|
5. Payment of Taxes and Other Impositions |
|
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6 |
|
6. Insurance |
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6 |
|
7. Restrictions on Liens and Encumbrances |
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8 |
|
8. Due on Sale and Other Transfer Restrictions |
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8 |
|
9. Condemnation/Eminent Domain |
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9 |
|
10. Leases |
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9 |
|
11. Further Assurances |
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9 |
|
12. Mortgagee’s Right to Perform |
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9 |
|
13. Remedies |
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10 |
|
14. Right of Mortgagee to Credit Sale |
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12 |
|
15. Appointment of Receiver |
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12 |
|
16. Extension, Release, etc. |
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12 |
|
17. Security Agreement under Uniform Commercial Code |
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13 |
|
18. Assignment of Rents |
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14 |
|
19. Additional Rights |
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14 |
|
20. Notices |
|
|
15 |
|
21. No Oral Modification |
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|
15 |
|
22. Partial Invalidity |
|
|
15 |
|
23. Mortgagor’s Waiver of Rights |
|
|
15 |
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24. Remedies Not Exclusive |
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25. Multiple Security |
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26. Successors and Assigns |
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27. No Waivers, etc. |
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28. Governing Law, etc. |
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29. Certain Definitions |
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30. Maximum Rate of Interest |
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31. Mortgaged Lease Provisions |
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32. Release |
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33. Last Dollars Secured; Priority |
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34. Receipt of Copy |
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35. [__________ Law Provisions.] |
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i
MORTGAGE, SECURITY AGREEMENT,
ASSIGNMENT OF LEASES AND RENTS, AND FIXTURE FILING
THIS MORTGAGE, SECURITY AGREEMENT, ASSIGNMENT OF LEASES AND RENTS, AND FIXTURE FILING, dated
as of ________ ____, 20___, is made by MAPCO EXPRESS, INC., a Delaware (“Mortgagor”), whose
address is 830 Crescent Centre Drive, Suite 300, Franklin, Tennessee 37067, in favor of FIFTH THIRD
BANK, an Ohio banking corporation, as administrative agent under the Credit Agreement referred to
below (in such capacity, “Mortgagee”), whose address is 38 Fountain Square Plaza,
Cincinnati, Ohio 45263. References to this “Mortgage” shall mean this instrument and any
and all renewals, modifications, amendments, supplements, extensions, consolidations,
substitutions, spreaders and replacements of this instrument.
Background
A. Mortgagor (i) is the owner of the fee simple estate in the parcel(s) of real property
located in the State of ________, if any, described on Schedule A attached hereto (the
“Owned Land”); (ii) is the owner of a leasehold estate in the parcel(s) of real property
located in the State of __________, if any, described on Schedule B attached hereto
(collectively, the “Leased Land”; together with the Owned Land, collectively, the
“Land”), pursuant to the agreement(s) described on Schedule B attached hereto (as
the same may be amended, supplemented or otherwise modified from time to time, the “Mortgaged
Leases”; each a “Mortgaged Lease”); and (iii) owns, leases or otherwise has the right
to use all of the buildings, improvements, structures, and fixtures now or subsequently located on
the Land (collectively, the “Improvements”; the Land and the Improvements being
collectively referred to as the “Real Estate”).
B. The Mortgagor (together with each other Person who becomes a borrower thereunder by
execution of a joinder, as “Borrowers”), the Lenders parties thereto, Mortgagee, as
administrative agent, and others, are parties to that certain Second Amended and Restated Credit
Agreement, dated as of December 10, 2009 (as amended and restated, and as the same may be further
amended, supplemented, restated, replaced or otherwise modified from time to time, the “Credit
Agreement”). The terms of the Credit Agreement are incorporated by reference in this Mortgage
as if the terms thereof were fully set forth herein. In the event of any conflict between the
provisions of this Mortgage and the provisions of the Credit Agreement, the applicable provisions
of the Credit Agreement shall govern and control.
C. Pursuant to the Credit Agreement, the Lenders have severally agreed to make and continue
loans and other extensions of credit to Borrowers upon the terms and subject to the conditions set
forth therein, such extensions of credit include, without limitation, Revolving Credit Loans (in
the aggregate maximum principal amount not to exceed $275,000,000 and being due and payable in full
on December _________, 2015, if not sooner paid), a Swing Line Loan and Letters of Credit.
D. Certain of the Qualified Counterparties may enter into Specified Hedge Agreements with the
Borrowers.
E. It is a condition precedent to the obligation of the Lenders to make and continue their
respective extensions of credit to the Borrowers under the Credit Agreement that Mortgagor shall
have executed and delivered this Mortgage to Mortgagee for the ratable benefit of the Secured
Parties.
Granting Clauses
For good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Mortgagor agrees that to secure Obligations (provided, that obligations of the
Borrowers or any Subsidiary under any Specified Hedge Agreement shall be secured hereby only to the
extent that, and for so long as, the other Obligations are so secured);
MORTGAGOR HEREBY GRANTS TO MORTGAGEE A LIEN UPON AND A SECURITY INTEREST IN, AND HEREBY MORTGAGES
AND WARRANTS, GRANTS, BARGAINS, SELLS, ASSIGNS, TRANSFERS AND SETS OVER TO MORTGAGEE, IN EACH CASE
FOR THE RATABLE BENEFIT OF THE SECURED PARTIES:
(a) the Owned Land;
(b) the leasehold estate created under and by virtue of the Mortgaged Leases, any
interest in any fee, greater or lesser title to the Leased Land and Improvements located
thereon that Mortgagor may own or hereafter acquire (whether acquired pursuant to a right or
option contained in the Mortgaged Leases or otherwise) and all credits, deposits, options,
privileges and rights of Mortgagor under the Mortgaged Leases (including all rights of use,
occupancy and enjoyment) and under any amendments, supplements, extensions, renewals,
restatements, replacements and modifications thereof (including, without limitation, (i) the
right to give consents, (ii) the right to receive moneys payable to Mortgagor, (iii) the
right, if any, to renew or extend the Mortgaged Leases for a succeeding term or terms, (iv)
the right, if any, to purchase the Leased Land and Improvements located thereon, and (v) the
right to terminate or modify the Mortgaged Leases); all of Mortgagor’s claims and rights to
the payment of damages arising under the Bankruptcy Code (as defined below) from any
rejection of the Mortgaged Leases by the lessor thereunder or any other party;
(c) all right, title and interest Mortgagor now has or may hereafter acquire in and to
the Improvements or any part thereof (whether owned in fee by Mortgagor or held pursuant to
the Mortgaged Leases or otherwise) and all the estate, right, title, claim or demand
whatsoever of Mortgagor, in possession or expectancy, in and to the Real Estate or any part
thereof;
(d) all right, title and interest of Mortgagor in, to and under all easements, rights
of way, licenses, operating agreements, abutting strips and gores of land, streets, ways,
alleys, passages, sewer rights, waters, water courses, water and flowage rights, development
rights, air rights, mineral and soil rights, plants, standing and fallen timber, and all
estates, rights, titles, interests, privileges, licenses, tenements, hereditaments and
appurtenances belonging, relating or appertaining to the Real Estate, and any reversions,
remainders, rents, issues, profits and revenue thereof and all land lying in the bed of
any street, road or avenue, in front of or adjoining the Real Estate to the center line
thereof;
2
(e) all right, title and interest of Mortgagor in, to and under all of the fixtures,
and all appurtenances and additions thereto and substitutions or replacements thereof
(together with, in each case, attachments, components, parts and accessories) currently
owned or subsequently acquired by Mortgagor and now or subsequently attached to, or
contained in or used or usable in any way in connection with any operation or letting of the
Real Estate, including but without limiting the generality of the foregoing, all storm doors
and windows, heating, electrical, and mechanical equipment, lighting, switchboards,
plumbing, ventilating, air conditioning and air-cooling apparatus, refrigerating, and
incinerating equipment, escalators, elevators, loading and unloading equipment and systems,
cleaning systems (including window cleaning apparatus), communication systems (including
satellite dishes and antennae), sprinkler systems and other fire prevention and
extinguishing apparatus and materials, security systems, motors, engines, machinery, pipes,
pumps, tanks, gas pumps, gas tanks, conduits, appliances, fittings and fixtures of every
kind and description (all of the foregoing in this paragraph (e) being referred to as the
“Equipment”);
(f) all right, title and interest of Mortgagor in and to all substitutes and
replacements of, and all additions and improvements to, the Real Estate and the Equipment,
subsequently acquired by or released to Mortgagor or constructed, assembled or placed by
Mortgagor on the Real Estate, immediately upon such acquisition, release, construction,
assembling or placement, including, without limitation, any and all building materials
whether stored at the Real Estate or offsite, and, in each such case, without any further
deed, conveyance, assignment or other act by Mortgagor;
(g) all right, title and interest of Mortgagor in, to and under all leases, subleases,
underlettings, concession agreements, management agreements, licenses and other agreements
relating to the use or occupancy of the Real Estate or the Equipment or any part thereof,
now existing or subsequently entered into by Mortgagor and whether written or oral and all
guarantees of any of the foregoing (collectively, as any of the foregoing may be amended,
restated, extended, renewed or modified from time to time, the “Leases”), and all
rights of Mortgagor in respect of cash and securities deposited thereunder and the right to
receive and collect the revenues, income, rents, issues and profits thereof, together with
all other rents, royalties, issues, profits, revenue, income and other benefits arising from
the use and enjoyment of the Mortgaged Property (as defined below) (collectively, the
“Rents”);
(h) all unearned premiums under insurance policies now or subsequently obtained by
Mortgagor relating to the Real Estate or Equipment and Mortgagor’s interest in and to all
proceeds of any such insurance policies (including title insurance policies) including the
right to collect and receive such proceeds, subject to the provisions relating to insurance
generally set forth below or in the Credit Agreement; and all awards and other compensation,
including the interest payable thereon and the right to collect and receive the same, made
to the present or any subsequent owner of the Real Estate or Equipment for the taking by
eminent domain, condemnation or otherwise, of all or any
part of the Real Estate or any easement or other right therein subject to the
provisions set forth below or in the Credit Agreement;
3
(i) all right, title and interest of Mortgagor in and to (i) all contracts from time to
time executed by Mortgagor or any manager or agent on its behalf relating to the ownership,
construction, maintenance, repair, operation, occupancy, sale or financing of the Real
Estate or Equipment or any part thereof and all agreements and options relating to the
purchase or lease of any portion of the Real Estate or any property which is adjacent or
peripheral to the Real Estate, together with the right to exercise such options and all
leases of Equipment, (ii) all consents, licenses, building permits, certificates of
occupancy and other governmental approvals relating to construction, completion, occupancy,
use or operation of the Real Estate or any part thereof, and (iii) all drawings, plans,
specifications and similar or related items relating to the Real Estate; and
(j) all proceeds, both cash and noncash, of the foregoing (all of the foregoing
property and rights and interests now owned or held or subsequently acquired by Mortgagor
and described in the foregoing clauses (a) through (d) are collectively referred to as the
“Premises”, and those described in the foregoing clauses (a) through (j) are
collectively referred to as the “Mortgaged Property”).
TO HAVE AND TO HOLD the Mortgaged Property and the rights and privileges hereby granted unto
Mortgagee, its successors and assigns for the uses and purposes set forth, until the Obligations
are fully paid and fully performed.
This Mortgage covers present and future advances and re-advances, in the aggregate amount of
the obligations secured hereby, made by the Secured Parties for the benefit of Mortgagor, and the
lien of such future advances and re-advances shall relate back to the date of this Mortgage.
Terms and Conditions
Mortgagor further represents, warrants, covenants and agrees with Mortgagee and the Secured
Parties as follows:
1. Defined Terms. Capitalized terms used herein (including in the “Background” and “Granting
Clauses” sections above) and not otherwise defined herein shall have the meanings ascribed
thereto in the Credit Agreement. References in this Mortgage to the “Default Rate” shall
mean the interest rate applicable pursuant to Section 2.13(c)(ii) of the Credit Agreement.
References herein to the “Secured Parties” shall mean the collective reference to (i)
Mortgagee, (ii) the Lenders (including any Issuing Lender in its capacity as Issuing Lender), (iii)
each Qualified Counterparty, and (iv) the respective successors, indorsees, transferees and assigns
of each of the foregoing.
4
2. Warranty of Title. Mortgagor warrants that it has good record title in fee simple to, or a valid leasehold
interest in, the Real Estate, and good title to, or a valid leasehold interest in, the rest of the
Mortgaged Property, subject only to the matters that are set forth in Schedule B of the title
insurance policy or policies being issued to Mortgagee to insure the lien of this Mortgage and any
other lien or encumbrance as permitted by Section 7.3 of the Credit Agreement (the “Permitted
Exceptions”). Mortgagor shall warrant, defend and preserve such title and the lien of this
Mortgage against all claims of all persons and entities (not including the holders of the Permitted
Exceptions). Mortgagor represents and warrants that (a) it has the right to mortgage the Mortgaged
Property; (b) the Mortgaged Leases are in full force and effect and Mortgagor is the holder of the
lessee’s or tenant’s interest thereunder; (c) the Mortgaged Leases have not been amended,
supplemented or otherwise modified, except as may be specifically described in Schedule B attached
to this Mortgage or as otherwise notified in writing to the Mortgagee; (d) Mortgagor has paid all
rents and other charges to the extent due and payable under the Mortgaged Leases (except to the
extent Mortgagor is contesting in good faith by appropriate proceedings any such rents and other
charges in accordance with and to the extent permitted by the terms of the relevant Mortgaged
Lease), is not in default under the Mortgaged Leases in any material respect, has received no
notice of default from the lessor thereunder and knows of no material default by the lessor
thereunder; and (e) the granting of this Mortgage does not violate the terms of the Mortgaged
Leases nor is any consent of the lessor under the Mortgaged Leases required to be obtained in
connection with the granting of this Mortgage unless such consent has been obtained.
3. Payment of Obligations. Mortgagor shall pay and perform the Obligations at the times and places and in the manner
specified in the Loan Documents.
4. Requirements.
(a) Subject to the applicable provisions of the Credit Agreement, Mortgagor shall
promptly comply with, or cause to be complied with, and conform to all Requirements of Law
of all Governmental Authorities which have jurisdiction over the Mortgaged Property, and all
covenants, restrictions and conditions now or later of record which may be applicable to any
of the Mortgaged Property, or to the use, manner of use, occupancy, possession, operation,
maintenance, alteration, repair or reconstruction of any of the Mortgaged Property, except
to the extent that failure to comply therewith could not, in the aggregate, reasonably be
expected to have a Material Adverse Effect.
(b) From and after the date of this Mortgage, Mortgagor shall not by act or omission
permit any building or other improvement on any premises not subject to the lien of this
Mortgage to rely on the Premises or any part thereof or any interest therein to fulfill any
Requirement of Law; provided, that the foregoing shall not prevent, restrict or otherwise
limit any such reliance to the extent existing on of the date of this Mortgage to fulfill
any Requirement of Law. Mortgagor shall not by act or omission impair the
integrity of any of the Real Estate as a single zoning lot separate and apart from all
other premises.
5
5. Payment of Taxes and Other Impositions.
(a) Promptly when due or prior to the date on which any fine, penalty, interest or cost
may be added thereto or imposed, Mortgagor shall pay and discharge all taxes, charges and
assessments of every kind and nature (including, without limitation, all real property
taxes), all charges for any easement or agreement maintained for the benefit of any of the
Real Estate, all general and special assessments, levies, permits, inspection and license
fees, all water and sewer rents and charges, vault taxes, and all other public charges even
if unforeseen or extraordinary, imposed upon or assessed against or which may become a lien
on any of the Real Estate, or arising in respect of the occupancy, use or possession
thereof, together with any penalties or interest on any of the foregoing (all of the
foregoing are collectively referred to as “Impositions”). If there is an Event of
Default which is continuing, Mortgagor shall within 30 days after each due date deliver to
Mortgagee (i) original or copies of receipted bills and cancelled checks evidencing payment
of such Imposition if it is a real estate tax or other public charge and (ii) evidence
reasonable acceptable to Mortgagee showing the payment of any other such Imposition. If by
law any Imposition, at Mortgagor’s option, may be paid in installments (whether or not
interest shall accrue on the unpaid balance of such Imposition), Mortgagor may elect to pay
such Imposition in such installments and shall be responsible for the payment of such
installments with interest, if any.
(b) If the Mortgagee has failed to pay an Imposition within thirty (30) days of when it
is due, Mortgagee with notice to Mortgagor may pay any such Imposition at any time
thereafter. Any sums paid by Mortgagee in discharge of any Impositions shall be payable on
demand by Mortgagor to Mortgagee and the amount so paid shall be added to the Obligations.
Any sums paid by Mortgagee in discharge of any Impositions shall be (i) a lien on the
Premises secured hereby prior to any right or title to, interest in, or claim upon the
Premises subordinate to the lien of this Mortgage, and (ii) payable on demand by Mortgagor
to Mortgagee together with interest at the Default Rate.
(c) Mortgagor shall have the right before any delinquency occurs to contest or object
in good faith to the amount or validity of any Imposition by appropriate legal proceedings,
but such right shall not be deemed or construed with respect to any material Imposition, in
any way as relieving, modifying, or extending Mortgagor’s covenant to pay any such material
Imposition at the time and in the manner provided in this Section unless (i) Mortgagor has
given prior written notice to Mortgagee of Mortgagor’s intent so to contest or object to a
material Imposition, (ii) Mortgagor shall demonstrate to Mortgagee’s reasonable satisfaction
that the legal proceedings shall operate conclusively to prevent the sale of the Mortgaged
Property, or any part thereof, to satisfy such material Imposition prior to final
determination of such proceedings and (iii) Mortgagor shall either (x) furnish a good and
sufficient bond or surety as requested by and reasonably satisfactory to Mortgagee or (y)
maintain adequate reserves in conformity with GAAP on
Mortgagor’s books, in each case in the amount of the material Imposition which is being
contested plus any interest and penalty which may be imposed thereon and which could become
a lien against the Real Estate or any part of the Mortgaged Property.
6. Insurance.
(a) Mortgagor shall maintain or cause to be maintained on all of the Premises:
(i) property insurance against loss or damage by fire, lightning, windstorm,
tornado, water damage, flood, earthquake and by such other further risks and hazards
as now are or subsequently may be covered by an “all risk” policy or a fire policy
covering “special” causes of loss, and the policy limits shall be automatically
reinstated after each loss;
6
(ii) commercial general liability insurance under a policy including the “broad
form CGL endorsement” (or which incorporates the language of such endorsement),
covering claims for personal injury, bodily injury or death, or property damage
occurring on, in or about the Premises in an amount not less than $10,000,000
combined single limit (which $10,000,000 requirement may be satisfied through the
purchase of primary or excess liability coverage) with respect to injury and
property damage relating to any one occurrence plus such excess limits as Mortgagee
shall request from time to time;
(iii) insurance against rent loss, extra expense or business interruption in
amounts satisfactory to Mortgagee, but not less than one year’s gross rent or gross
income; and
(iv) such other insurance in such amounts as Mortgagee may reasonably request
from time to time against loss or damage by any other risk commonly insured against
by persons occupying or using like properties in the locality or localities in which
the Real Estate is situated.
(b) Each property insurance policy shall (x) provide that it shall not be cancelled,
non-renewed or materially amended without 30-days’ prior written notice to Mortgagee, and
(y) with respect to all property insurance, provide for deductibles in an amount reasonably
satisfactory to Mortgagee, and contain a “Replacement Cost Endorsement” without any
deduction made for depreciation and with no co-insurance penalty (or attaching an agreed
amount endorsement satisfactory to Mortgagee), without contribution, under a “standard” or
“New York” mortgagee clause acceptable to Mortgagee. Liability insurance policies shall name
Mortgagee as an additional insured and contain a waiver of subrogation against Mortgagee.
Each policy of property insurance shall expressly provide that any proceeds which are
payable to Mortgagee shall be paid by check payable to the order of Mortgagee only and
requiring the endorsement of Mortgagee only.
(c) Mortgagor shall deliver to Mortgagee a certificate of such insurance reasonably
acceptable to Mortgagee. Mortgagor shall (i) pay as they become due all premiums for such
insurance and (ii) not later than 15 days prior to the expiration of each policy to be
furnished pursuant to the provisions of this Section, deliver a renewed policy or policies,
or duplicate original or originals thereof, marked “premium paid,” or accompanied by such
other evidence of payment satisfactory to Mortgagee.
(d) If Mortgagor is in default of its obligations to insure or deliver any such prepaid
policy or policies, then Mortgagee, at its option and with notice to Mortgagor, may effect
such insurance from year to year, and pay the premium or premiums therefor, and Mortgagor
shall pay to Mortgagee on demand such premium or premiums so paid by Mortgagee with interest
from the time of payment at the Default Rate.
7
(e) Mortgagor promptly shall comply with and conform to (i) all material provisions of
each such insurance policy, and (ii) all requirements of the insurers applicable to
Mortgagor or to any of the Mortgaged Property or to the use, manner of use, occupancy,
possession, operation, maintenance, alteration or repair of any of the Mortgaged Property.
Mortgagor shall not use or permit the use of the Mortgaged Property in any manner which
would not allow the Mortgagor to obtain the insurance policies required pursuant to this
Section 6.
(f) If the Mortgaged Property, or any material part thereof, shall be destroyed or
damaged, Mortgagor shall give notice thereof to Mortgagee. Provided that no Event of
Default shall have occurred and be continuing, Mortgagor shall have the right to adjust such
loss, and the insurance proceeds relating to such loss shall be paid over to Mortgagor.
(g) In the event of foreclosure of this Mortgage or other transfer of title to the
Mortgaged Property to the Mortgagee, all right, title and interest of Mortgagor in and to
any insurance policies then in force shall pass to the purchaser or grantee.
(h) Mortgagor may maintain insurance required under this Mortgage by means of one or
more blanket insurance policies maintained by Mortgagor; provided, however, that (A) any
such policy shall specify, or Mortgagor shall furnish to Mortgagee a written statement from
the insurer so specifying, the maximum amount of the total insurance afforded by such
blanket policy that is allocated to the Premises and the other Mortgaged Property and any
sublimits in such blanket policy applicable to the Premises and the other Mortgaged
Property, (B) each such blanket policy shall include an endorsement providing that, in the
event of a loss resulting from an insured peril, insurance proceeds shall be allocated to
the Mortgaged Property in an amount equal to the coverages required to be maintained by
Mortgagor as provided above and (C) the protection afforded under any such blanket policy
shall be no less than that which would have been afforded under a separate policy or
policies as required hereunder relating only to the Mortgaged Property.
7. Restrictions on Liens and Encumbrances. Except for the lien of this Mortgage and the Permitted Exceptions, and except as expressly
permitted under the Credit Agreement or this Mortgage, Mortgagor shall not, without the prior
written consent of Mortgagee, further mortgage, nor otherwise encumber the Mortgaged Property nor
create or suffer to exist any lien, charge or encumbrance on the Mortgaged Property, or any part
thereof, whether superior or subordinate to the lien of this Mortgage and whether recourse or
non-recourse.
8. Due on Sale and Other Transfer Restrictions. Except as expressly permitted under the Credit Agreement, Mortgagor shall not, without the
prior written consent of Mortgagee, sell, transfer, convey or assign all or any portion of, or any
interest in, the Mortgaged Property.
8
9. Condemnation/Eminent Domain. Subject to the Credit Agreement, upon obtaining knowledge of the institution of any
proceedings for the condemnation of the Mortgaged Property, or any portion thereof, Mortgagor will
notify Mortgagee of the pendency of such proceedings. Mortgagee is hereby authorized and empowered
by Mortgagor to settle or compromise any claim in connection with such condemnation.
Notwithstanding the preceding sentence, provided no Event of Default shall have occurred and be
continuing, (i) Mortgagor shall, at its expense, diligently prosecute any proceeding relating to
such condemnation, (ii) Mortgagor may settle or compromise any claims in connection therewith and
(iii) Mortgagor may receive any awards or proceeds thereof, provided that Mortgagor shall (a) in
the event of a partial taking of an individual Mortgaged Property and to the extent reasonable
possible promptly repair and restore the remaining portion of such Mortgaged Property to its
condition prior to such condemnation, regardless of whether any award shall have been received or
whether such award is sufficient to pay for the costs of such repair and restoration or, in the
alternative, have the landlord of any leasehold Mortgaged Property repair and restore same in
accordance with the applicable provisions of the applicable Mortgaged Lease, or (b) otherwise
comply with the provisions of the Credit Agreement relating to a Recovery Event.
10. Leases. Except as expressly permitted under the Credit Agreement, Mortgagor shall not (a) execute
an assignment or pledge of any Lease relating to all or any portion of the Mortgaged Property other
than in favor of Mortgagee, or (b) without the prior written consent of Mortgagee, which consent
shall not be unreasonably withheld or delayed, execute or permit to exist any Lease of any of the
Mortgaged Property.
11. Further Assurances. To further assure Mortgagee’s rights under this Mortgage, Mortgagor agrees upon written
demand of Mortgagee to do any act or execute any additional documents (including, but not limited
to, security agreements on any personalty included or to be included in the Mortgaged Property and
a separate assignment of each Lease in recordable form) as may be reasonably required by Mortgagee
to confirm the lien of this Mortgage and all other rights or benefits conferred on Mortgagee by
this Mortgage.
12. Mortgagee’s Right to Perform. If Mortgagor fails to perform any of the covenants or agreements of Mortgagor contained
herein, within the applicable grace period, if any, provided for in the Credit Agreement,
Mortgagee, without waiving or releasing Mortgagor from any obligation or default under this
Mortgage may (but shall be under no obligation to), at any time upon delivery of written notice to
Mortgagor pay or perform the same, and the amount or cost thereof, with interest at the Default
Rate, shall be due on demand from Mortgagor to Mortgagee and the same shall be secured by this
Mortgage and shall be a lien on the Mortgaged Property prior to any right, title to, interest in,
or claim upon the Mortgaged Property attaching subsequent to the lien of this Mortgage. No payment
or advance of money by Mortgagee under this Section shall be deemed or construed to cure
Mortgagor’s default or waive any right or remedy of Mortgagee.
9
13. Remedies.
(a) Upon the occurrence and during the continuance of any Event of Default, Mortgagee
may immediately take such action, without notice or demand, as it deems advisable to protect
and enforce its rights against Mortgagor and in and to the Mortgaged Property, including,
but not limited to, the following actions, each of which may be pursued concurrently or
otherwise, at such time and in such manner as Mortgagee may determine, in its sole
discretion, without impairing or otherwise affecting the other rights and remedies of
Mortgagee:
(i) This Mortgage shall be subject to foreclosure and may be foreclosed as
provided by law in case of past-due mortgages, and Mortgagee shall be authorized, at
its option, whether or not possession of the Mortgaged Property is taken, to sell
the Mortgaged Property (or such part of parts thereof as Mortgagee may from time to
time elect to sell) under the power of sale which is hereby given to Mortgagee, at
public outcry, to the highest bidder for cash, at the front or main door of the
courthouse of the county in which the Mortgaged Property to be sold, or a
substantial or material part thereof, is located, after first giving notice by
publication one a week for three successive weeks of the time, place and terms of
such sale, together with a description of the Mortgaged Property to be sold, by
publication in some newspaper published in the county or counties in which the
Mortgaged Property to be sold is located. If there is Mortgaged Property to be sold
in more than one county, publication shall be made in all counties where the
Mortgaged Property to be sold is located, but if no newspaper is published in any
such county, the notice shall be published in a newspaper published in an adjoining
county for three successive weeks. The sale shall be held between the hours of 11:00
a.m. and 4:00 p.m. on the day designated for the exercise of the power of sale
hereunder. Mortgagee may bid at any sale held under this Mortgage and may purchase
the Mortgaged Property, or any part thereof, if the highest bidder therefor. The
purchaser at any such sale shall be under no obligation to see to the proper
application of the purchase money. At any sale all or any part of the Mortgaged
Property, real, personal, or mixed, may be
offered for sale in parcels or en masse for one total price, and the proceeds
of any such sale en masse shall be accounted for in one amount without distinction
between the items included therein and without assigning to them any proportion of
such proceeds, Mortgagor hereby waiving the application of any doctrine of
marshalling or like proceeding. In case Mortgagee, in the exercise of the power of
sale herein given, elects to sell the Mortgaged Property in parts or parcels, sales
thereof may be held from time to time, and the power of sale granted herein shall
not be fully exercised until all of the Mortgaged Property not previously sold shall
have been sold or all the Obligations shall have been paid in full and this Mortgage
shall have been terminated as provided herein. In case of any sale of the Mortgaged
Property as authorized by this paragraph, all prerequisites to the sale shall be
presumed to have been performed, and in any conveyance given hereunder all
statements of facts, or other recitals therein made, as to the nonpayment of any of
the Obligations or as to the advertisement of sale, or the time, place and manner of
sale, or as to any other fact or thing, shall be taken in all courts of law or
equity as rebuttably presumptive evidence that the facts so stated or recited are
true.
10
(ii) Mortgagee may, to the extent permitted by applicable law, (A) institute
and maintain an action of judicial foreclosure against all or any part of the
Mortgaged Property, or (B) take such other action at law or in equity for the
enforcement of this Mortgage or any of the Loan Documents as the law may allow.
Mortgagee may proceed in any such action to final judgment and execution thereon for
all sums due hereunder, together with interest thereon at the applicable Default
Rate or a lesser amount if required by law and all costs of suit, including, without
limitation, reasonable attorneys’ fees and disbursements. To the fullest extent
permitted by applicable law, interest at the Default Rate shall be due on any
judgment obtained by Mortgagee hereunder from the date of judgment until actual
payment is made of the full amount of the judgment.
(iii) Mortgagee may personally, or by its agents, attorneys and employees and
without regard to the adequacy or inadequacy of the Mortgaged Property or any other
collateral as security for the Obligations enter into and upon the Mortgaged
Property and each and every part thereof and exclude Mortgagor and its agents and
employees therefrom without liability for trespass, damage or otherwise (Mortgagor
hereby agreeing to surrender possession of the Mortgaged Property to Mortgagee upon
demand at any such time) and use, operate, manage, maintain and control the
Mortgaged Property and every part thereof. Following such entry and taking of
possession, Mortgagee shall be entitled, without limitation, (x) to lease all or any
part or parts of the Mortgaged Property for such periods of time and upon such
conditions as Mortgagee may, in its discretion, deem proper, (y) to enforce, cancel
or modify any Lease subject to the rights of any existing tenants and (z) generally
to execute, do and perform any other act, deed, matter or thing concerning the
Mortgaged Property as Mortgagee shall deem appropriate as fully as Mortgagor might
do.
(b) In case of a foreclosure sale, the Real Estate may be sold, at Mortgagee’s
election, in one parcel or in more than one parcel and Mortgagee is specifically empowered
(without being required to do so, and in its sole and absolute discretion) to cause
successive sales of portions of the Mortgaged Property to be held as more particularly
described in Section 14(a)(i).
(c) Upon the occurrence and during the continuance of an Event of Default resulting
from any breach of any of the covenants, agreements, terms or conditions contained in this
Mortgage, Mortgagee shall be entitled to enjoin such breach and obtain specific performance
of any covenant, agreement, term or condition and Mortgagee shall have the right to invoke
any equitable right or remedy as though other remedies were not provided for in this
Mortgage.
(d) It is agreed that if an Event of Default shall occur and be continuing, any and all
proceeds of the Mortgaged Property received by Mortgagee shall be held by Mortgagee for the
benefit of the Secured Parties as collateral security for the Obligations (whether matured
or unmatured), and shall be applied in payment of the Obligations in the manner and in the
order set forth in Section 6.5 of the Guarantee and Collateral Agreement.
[ADD OTHER LOCAL LAW REMEDIES, IF ANY]
11
14. Right of Mortgagee to Credit Sale. Upon the occurrence of any sale made under this Mortgage in connection with the exercise of
remedies hereunder upon the occurrence and during the continuation of any Event of Default, whether
made under the power of sale or by virtue of judicial proceedings or of a judgment or decree of
foreclosure and sale, Mortgagee may bid for and acquire the Mortgaged Property or any part thereof.
In lieu of paying cash therefor, Mortgagee may make settlement for the purchase price by crediting
upon the Obligations or other sums secured by this Mortgage, the net sales price after deducting
therefrom the expenses of sale and the cost of the action and any other sums which Mortgagee is
authorized to deduct under this Mortgage. In such event, this Mortgage, the Credit Agreement, the
Guarantee and Collateral Agreement and documents evidencing expenditures secured hereby may be
presented to the person or persons conducting the sale in order that the amount so used or applied
may be credited upon the Obligations as having been paid.
15. Appointment of Receiver. If an Event of Default shall have occurred and be continuing, Mortgagee as a matter of
right and without notice to Mortgagor, unless otherwise required by applicable law, and without
regard to the adequacy or inadequacy of the Mortgaged Property or any other collateral or the
interest of Mortgagor therein as security for the Obligations, shall have the right to apply to any
court having jurisdiction to appoint a receiver or receivers or other manager of the Mortgaged
Property, and Mortgagor hereby irrevocably consents to such appointment and waives notice of any
application therefor (except as may be required by law). Any such receiver or receivers or manager
shall have all the usual powers and duties of receivers in like or similar cases and all the
powers and duties of Mortgagee in case of entry as provided in this Mortgage, including,
without limitation and to the extent permitted by law, the right to enter into leases of all or any
part of the Mortgaged Property, and shall continue as such and exercise all such powers until the
date of confirmation of sale of the Mortgaged Property unless such receivership is sooner
terminated.
16. Extension, Release, etc.
(a) Without affecting the lien or charge created by this Mortgage upon any portion of
the Mortgaged Property not then or theretofore released as security for the full amount of
the Obligations, Mortgagee may, from time to time and without notice, agree to (i) release
any person liable for the indebtedness borrowed or guaranteed under the Loan Documents, (ii)
extend the maturity or alter any of the terms of the indebtedness borrowed or guaranteed
under the Loan Documents or any other guaranty thereof, (iii) grant other indulgences, (iv)
release or reconvey, or cause to be released or reconveyed at any time at Mortgagee’s option
any parcel, portion or all of the Mortgaged Property, (v) take or release any other or
additional security for any obligation herein mentioned, or (vi) make compositions or other
arrangements with debtors in relation thereto.
(b) No recovery of any judgment by Mortgagee and no levy of an execution under any
judgment upon the Mortgaged Property or upon any other property of Mortgagor shall affect
the lien created by this Mortgage or any liens, rights, powers or remedies of Mortgagee
hereunder, and such liens, rights, powers and remedies shall continue unimpaired.
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(c) If Mortgagee shall have the right to foreclose this Mortgage, Mortgagor authorizes
Mortgagee at its option to foreclose the lien created by this Mortgage subject to the rights
of any tenants of the Mortgaged Property. The failure to make any such tenants parties
defendant to any such foreclosure proceeding and to foreclose their rights, or to provide
notice to such tenants as required in any statutory procedure governing a foreclosure of the
Mortgaged Property, or to terminate such tenant’s rights in such foreclosure will not be
asserted by Mortgagor as a defense to any proceeding instituted by Mortgagee to collect the
Obligations or to foreclose the lien created by this Mortgage.
(d) Unless expressly provided otherwise, in the event that Mortgagee’s interest in this
Mortgage and title to the Mortgaged Property or any estate therein shall become vested in
the same person or entity, this Mortgage shall not merge in such title but shall continue as
a valid lien on the Mortgaged Property for the amount secured hereby.
17. Security Agreement under Uniform Commercial Code.
(a) It is the intention of the parties hereto that this Mortgage shall constitute a
Security Agreement within the meaning of the Uniform Commercial Code (the “Code”) of the
State in which the Mortgaged Property is located. If an Event of Default shall
occur and be continuing under this Mortgage, then in addition to having any other right
or remedy available at law or in equity, Mortgagee shall have the option of either (i)
proceeding under the Code and exercising such rights and remedies as may be provided to a
secured party by the Code with respect to all or any portion of the Mortgaged Property which
is personal property (including, without limitation, taking possession of and selling such
property) or (ii) treating such property as real property and proceeding with respect to
both the real and personal property constituting the Mortgaged Property in accordance with
Mortgagee’s rights, powers and remedies with respect to the real property (in which event
the default provisions of the Code shall not apply). If Mortgagee shall elect to proceed
under the Code, then ten days’ notice of sale of the personal property shall be deemed
reasonable notice and the reasonable expenses of retaking, holding, preparing for sale,
selling and the like incurred by Mortgagee shall include, but not be limited to, reasonable
attorneys’ fees and legal expenses. At Mortgagee’s request, Mortgagor shall assemble the
personal property and make it available to Mortgagee at a place designated by Mortgagee
which is reasonably convenient to both parties.
(b) Certain portions of the Mortgaged Property are or will become “fixtures” (as that
term is defined in the Code) on the Land, and this Mortgage, upon being filed for record in
the real estate records of the county wherein such fixtures are situated, shall operate also
as a financing statement filed as a fixture filing in accordance with the applicable
provisions of said Code upon such portions of the Mortgaged Property that are or become
fixtures. The addresses of the Mortgagor, as debtor, and Mortgagee, as secured party, are
set forth in the first page of this Mortgage.
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(c) The real property to which the fixtures relate is described in Schedule A and
Schedule B attached hereto. The record owner of the Owned Land is described in Schedule A
and the record owner of the Leased Land is described on Schedule B. The name, type of
organization and jurisdiction of organization of the debtor for purposes of this financing
statement are the name, type of organization and jurisdiction of organization of the
Mortgagor set forth in the first paragraph of this Mortgage, and the name of the secured
party for purposes of this financing statement is the name of the Mortgagee set forth in the
first paragraph of this Mortgage. The mailing address of the Mortgagor/debtor is the address
of the Mortgagor set forth in the first paragraph of this Mortgage. The mailing address of
the Mortgagee/secured party from which information concerning the security interest
hereunder may be obtained is the address of the Mortgagee set forth in the first paragraph
of this Mortgage. Mortgagor’s organizational identification number is
_____.
18. Assignment of Rents.
(a) Mortgagor hereby assigns to Mortgagee the Rents as further security for the payment
and performance of the Obligations, and Mortgagor grants to Mortgagee the right to enter the
Mortgaged Property for the purpose of collecting the same and to let the Mortgaged Property
or any part thereof, and to apply the Rents on account of the Obligations. The foregoing
assignment and grant is present and absolute and shall
continue in effect until the Obligations secured hereby are paid in full, but Mortgagee
hereby waive the right to enter the Mortgaged Property for the purpose of collecting the
Rents and Mortgagor shall be entitled to collect, receive, use and retain the Rents until
the occurrence and during the continuation of an Event of Default under this Mortgage; such
right of Mortgagor to collect, receive, use and retain the Rents may be revoked by Mortgagee
upon the occurrence and during the continuance of any Event of Default under this Mortgage
by giving not less than five days’ written notice of such revocation to Mortgagor; in the
event such notice is given, Mortgagor shall pay over to Mortgagee, or to any receiver
appointed to collect the Rents, any lease security deposits and such Rents. Mortgagor shall
not accept prepayments of installments of Rent to become due for a period of more than one
month in advance (except for security deposits and estimated payments of percentage rent, if
any).
(b) Mortgagor will not affirmatively do any act which would prevent Mortgagee from, or
limit Mortgagee in, acting under any of the provisions of the foregoing assignment.
(c) Except for any matter disclosed in the Credit Agreement, no action has been brought
or, to the best of Mortgagor’s knowledge, is threatened, which would interfere in any way
with the right of Mortgagor to execute the foregoing assignment and perform all of
Mortgagor’s obligations contained in this Section and in the Leases.
19. Additional Rights. The holder of any subordinate lien or subordinate mortgage on the Mortgaged Property shall
have no right to terminate any Lease whether or not such Lease is subordinate to this Mortgage nor
shall any holder of any subordinate lien or subordinate mortgage join any tenant under any Lease in
any action to foreclose the lien or modify, interfere with, disturb or terminate the rights of any
tenant under any Lease. By recordation of this Mortgage all subordinate lienholders and the
mortgagees under subordinate mortgages are subject to and notified of this provision, and any
action taken by any such lienholder or beneficiary contrary to this provision shall be null and
void.
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20. Notices. All notices, requests, demands and other communications hereunder shall be given in
accordance with the provisions of Section 10.2 of the Credit Agreement to Mortgagor and to
Mortgagee as specified therein.
21. No Oral Modification. This Mortgage may not be amended, supplemented or otherwise modified except in accordance
with the provisions of Section 10.1 of the Credit Agreement. Any agreement made by Mortgagor and
Mortgagee after the date of this Mortgage relating to this Mortgage shall be superior to the rights
of the holder of any intervening or subordinate lien or encumbrance.
22. Partial Invalidity. In the event any one or more of the provisions contained in this Mortgage shall for any
reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality
or unenforceability shall not affect any other provision hereof, but each shall be construed as if
such invalid, illegal or unenforceable provision had never been included.
23. Mortgagor’s Waiver of Rights.
(a) Mortgagor hereby voluntarily and knowingly releases and waives any and all rights
to retain possession of the Mortgaged Property after the occurrence of an Event of Default
hereunder and any and all rights of redemption from sale under any order or decree of
foreclosure (whether full or partial), pursuant to rights, if any, therein granted, as
allowed under any applicable law, on its own behalf, on behalf of all persons claiming or
having an interest (direct or indirectly) by, through or under each constituent of Mortgagor
and on behalf of each and every person acquiring any interest in the Mortgaged Property
subsequent to the date hereof, it being the intent hereof that any and all such rights or
redemption of each constituent of Mortgagor and all such other persons are and shall be
deemed to be hereby waived to the fullest extent permitted by applicable law or replacement
statute. Each constituent of Mortgagor shall not invoke or utilize any such law or laws or
otherwise hinder, delay, or impede the execution of any right, power, or remedy herein or
otherwise granted or delegated to Mortgagee, but shall permit the execution of every such
right, power, and remedy as though no such law or laws had been made or enacted.
(b) To the fullest extent permitted by law, Mortgagor waives the benefit of all laws
now existing or that may subsequently be enacted providing for (i) any appraisement before
sale of any portion of the Mortgaged Property, (ii) any extension of the time for the
enforcement of the collection of the Obligations or the creation or extension of a period of
redemption from any sale made in collecting such debt and (iii) exemption of the Mortgaged
Property from attachment, levy or sale under execution or exemption from civil process. To
the full extent Mortgagor may do so, Mortgagor agrees that Mortgagor will not at any time
insist upon, plead, claim or take the benefit or advantage of any law now or hereafter in
force providing for any appraisement, valuation, stay, exemption, extension or redemption,
or requiring foreclosure of this Mortgage before exercising any other remedy granted
hereunder and Mortgagor, for Mortgagor and its successors and assigns, and for any and all
persons ever claiming any interest in the Mortgaged Property, to the extent permitted by
law, hereby waives and releases all rights of redemption, valuation, appraisement, stay of
execution, notice of election to mature (except as expressly provided in the Credit
Agreement) or declare due the whole of the secured indebtedness and marshalling in the event
of exercise by Mortgagee of the power of sale, or other rights hereby created.
[ADD OTHER WAIVERS REQUIRED OR CUSTOMARY IN LOCAL JURISDICTION]
15
24. Remedies Not Exclusive. Mortgagee shall be entitled to enforce payment of the Obligations and performance of the
Obligations and to exercise all rights and powers under this Mortgage or under any of the other
Loan Documents or other agreement or any laws now or hereafter in force, notwithstanding some or
all of the Obligations may now or hereafter be otherwise secured, whether by deed of trust,
mortgage, security agreement, pledge, lien, assignment or otherwise. Neither the acceptance of this
Mortgage nor its enforcement, shall prejudice or in any manner affect Mortgagee’s right to realize
upon or enforce any other security now or hereafter held by Mortgagee, it being agreed that
Mortgagee shall be entitled to enforce this Mortgage and any other security now or hereafter held
by Mortgagee in such order and manner as Mortgagee may determine in its absolute discretion. No
remedy herein conferred upon or reserved to Mortgagee is intended to be exclusive of any other
remedy herein or by law provided or permitted, but each shall be cumulative and shall be in
addition to every other remedy given hereunder or now or hereafter existing at law or in equity or
by statute. Every power or remedy given by any of the Loan Documents to Mortgagee or to which
either may otherwise be entitled, may be exercised, concurrently or independently, from time to
time and as often as may be deemed expedient by Mortgagee as the case may be. In no event shall
Mortgagee, in the exercise of the remedies provided in this Mortgage (including, without
limitation, in connection with the assignment of Rents to Mortgagee, or the appointment of a
receiver and the entry of such receiver on to all or any part of the Mortgaged Property), be deemed
a “mortgagee in possession,” and Mortgagee shall not in any way be made liable for any act, either
of commission or omission, in connection with the exercise of such remedies.
25. Multiple Security. If (a) the Premises shall consist of one or more parcels, whether or not contiguous and
whether or not located in the same county, or (b) in addition to this Mortgage, Mortgagee shall now
or hereafter hold or be the beneficiary of one or more additional mortgages, liens, deeds of trust
or other security (directly or indirectly) for the Obligations upon other property in the State in
which the Premises are located (whether or not such property is owned by Mortgagor or by others) or
(c) both the circumstances described in clauses (a) and (b) shall be true, then to the fullest
extent permitted by law, Mortgagee may, at its election, commence or consolidate in a single
foreclosure action all foreclosure proceedings against all such collateral securing the Obligations
(including the Mortgaged Property), which action may be brought or consolidated in the courts of,
or sale conducted in, any county in which any of such collateral is located. Mortgagor acknowledges
that the right to maintain a consolidated foreclosure action is a specific inducement to Lenders to
extend the indebtedness borrowed pursuant to or guaranteed by the Loan Documents, and Mortgagor
expressly and irrevocably waives any objections to the commencement or consolidation of the
foreclosure proceedings in a
16
single action and any objections to the laying of venue or based on
the grounds of forum non conveniens which it may now or hereafter have. Mortgagor further agrees
that if Mortgagee shall be prosecuting one or more foreclosure or other proceedings against a
portion of the Mortgaged Property or against any collateral other than the Mortgaged Property,
which collateral directly or indirectly secures the Obligations, or if Mortgagee shall have
obtained a judgment of foreclosure and sale or similar judgment against such collateral, then,
whether or not such proceedings are being maintained or judgments were obtained in or outside the
State in which the Premises are located, Mortgagee may commence or continue any foreclosure
proceedings and exercise its other remedies granted in this Mortgage against all or any part of the
Mortgaged Property and Mortgagor waives any
objections to the commencement or continuation of a foreclosure of this Mortgage or exercise
of any other remedies hereunder based on such other proceedings or judgments, and waives any right
to seek to dismiss, stay, remove, transfer or consolidate either any action under this Mortgage or
such other proceedings on such basis. Neither the commencement nor continuation of proceedings to
foreclose this Mortgage, nor the exercise of any other rights hereunder nor the recovery of any
judgment by Mortgagee in any such proceedings shall prejudice, limit or preclude Mortgagee’s right
to commence or continue one or more foreclosure or other proceedings or obtain a judgment against
any other collateral (either in or outside the State in which the Premises are located) which
directly or indirectly secures the Obligations, and Mortgagor expressly waives any objections to
the commencement of, continuation of, or entry of a judgment in such other sales or proceedings or
exercise of any remedies in such sales or proceedings based upon any action or judgment connected
to this Mortgage, and Mortgagor also waives any right to seek to dismiss, stay, remove, transfer or
consolidate either such other sales or proceedings or any sale or action under this Mortgage on
such basis. It is expressly understood and agreed that to the fullest extent permitted by law,
Mortgagee may, at its election, cause the sale of all collateral which is the subject of a single
foreclosure action at either a single sale or at multiple sales conducted simultaneously and take
such other measures as are appropriate in order to effect the agreement of the parties to dispose
of and administer all collateral securing the Obligations (directly or indirectly) in the most
economical and least time-consuming manner.
26. Successors and Assigns. All covenants of Mortgagor contained in this Mortgage are imposed solely and exclusively
for the benefit of Mortgagee and its successors and assigns, and no other person or entity shall
have standing to require compliance with such covenants or be deemed, under any circumstances, to
be a beneficiary of such covenants, any or all of which may be freely waived in whole or in part by
Mortgagee at any time if in the sole discretion of either of them such a waiver is deemed
advisable. All such covenants of Mortgagor shall run with the land and bind Mortgagor, the
successors and assigns of Mortgagor (and each of them) and all subsequent owners, encumbrancers and
tenants of the Mortgaged Property, and shall inure to the benefit of Mortgagee and its successors
and assigns. The word “Mortgagor” shall be construed as if it read “Mortgagors” whenever the sense
of this Mortgage so requires and if there shall be more than one Mortgagor, the obligations of the
Mortgagors shall be joint and several.
27. No Waivers, etc. Any failure by Mortgagee to insist upon the strict performance by Mortgagor of any
of the terms and provisions of this Mortgage shall not be deemed to be a waiver of any of the terms
and provisions hereof, and Mortgagee, notwithstanding any such failure, shall have the right
thereafter to insist upon the strict performance by Mortgagor of any and all of the terms and
provisions of this Mortgage to be performed by Mortgagor. Mortgagee may release, regardless of
consideration and without the necessity for any notice to or consent by the beneficiary of any
subordinate mortgage or the holder of any subordinate lien on the Mortgaged Property, any part of
the security held for the obligations secured by this Mortgage without, as to the remainder of the
security, in any way impairing or affecting the lien of this Mortgage or the priority of this
Mortgage over any subordinate lien or mortgage.
17
28. Governing Law, etc. This Mortgage shall be governed by and construed and interpreted in accordance with
the laws of the State in which the Mortgaged Property is located, except that Mortgagor expressly
acknowledges that by their respective terms the Loan Documents shall be governed and construed in
accordance with the laws of the State of New York, without regard to principles of conflict of law,
and for purposes of consistency, Mortgagor agrees that in any in personam proceeding related to
this Mortgage the rights of the parties to this Mortgage shall also be governed by and construed in
accordance with the laws of the State of New York governing contracts made and to be performed in
that State, without regard to principles of conflict of law.
29. Certain Definitions. Unless the context clearly indicates a contrary intent or unless otherwise specifically
provided herein, words used in this Mortgage shall be used interchangeably in singular or plural
form and the word “Mortgagor” shall mean “each Mortgagor or any subsequent owner or owners of the
Mortgaged Property or any part thereof or interest therein,” the word “Mortgagee” shall mean
“Mortgagee or any successor agent for the Lenders,” the word “person” shall include any individual,
corporation, partnership, limited liability company, trust, unincorporated association, government,
governmental authority, or other entity, and the words “Mortgaged Property” shall include any
portion of the Mortgaged Property or interest therein. Whenever the context may require, any
pronouns used herein shall include the corresponding masculine, feminine or neuter forms, and the
singular form of nouns and pronouns shall include the plural and vice versa. The captions in this
Mortgage are for convenience or reference only and in no way limit or amplify the provisions
hereof.
30. Maximum Rate of Interest. Nothing herein contained, nor in any Loan Document or transaction related thereto, shall be
construed or so operate as to require Mortgagor or any person liable for the payment of the
Obligations made pursuant to the Credit Agreement, to pay interest in an amount or at a rate
greater than the maximum allowed by law. Should any interest or other charges in the nature of the
interest paid by Mortgagor or any parties liable for the payment of the Obligations made pursuant
to the Credit Agreement result in the computation or earning of interest in excess of the maximum
rate of interest allowed by applicable law, then any and all such excess shall be and the same is
hereby waived by the holder hereof, and all such excess shall be automatically credited against and
in reduction of the principal balance, and any portion of said excess which exceeds the principal
balance shall be paid by the holder hereof to Mortgagor or any parties liable for the payment of
the Obligations made pursuant to the said Credit Agreement, it being the intent of the parties
hereto that under no circumstances shall Mortgagor or any parties liable for the payment of the
Obligations hereunder be required to pay interest in excess of the maximum rate allowed by law.
18
31. Mortgaged Lease Provisions.
(a) Mortgagor shall pay or cause to be paid all rent and other charges required under
the Mortgaged Leases as and when the same are due and shall promptly and faithfully perform
or cause to be performed all other material terms, obligations, covenants, conditions,
agreements, indemnities, representations, warranties or liabilities of the lessee under the
Mortgaged Leases. Mortgagor shall not after the date hereof, unless Mortgagor shall receive
a subordination, non-disturbance and attornment agreement reasonable acceptable to Mortgagee
or except as required under the Mortgaged Leases, permit the subordination of the Mortgaged
Leases to any mortgage or deed of trust and any attempt to do any of the foregoing shall be
null and void and of no effect and shall constitute an Event of Default hereunder.
(b) Except as may be expressly permitted under the Credit Agreement, Mortgagor shall
do, or cause to be done, all things reasonable necessary to preserve and keep unimpaired all
material rights of Mortgagor as lessee under the Mortgaged Leases, and to prevent any
default under the Mortgaged Leases. Mortgagor does hereby authorize and irrevocably appoint
and constitute Mortgagee as its true and lawful attorney-in-fact, which appointment is
coupled with an interest, in its name, place and stead, (i) to do and take, but without any
obligation so to do, if Mortgagor fails to do so at least 5 Business Days prior to the
expiration of any applicable cure period, any action which Mortgagee reasonably deems
necessary or desirable to cure any default, or to prevent any imminent default, by Mortgagor
under the Mortgaged Leases and (ii) to enter into and upon the Premises or any part thereof
to such extent and as often as Mortgagee, in its sole discretion, deems necessary or
desirable in order to take any action permitted to be taken by Mortgagee pursuant to clause
(i) (in each case, with respect to all of the actions described in clauses (i) and (ii),
after ten days’ notice to Mortgagor, unless Mortgagor has itself taken the action(s) in
question within such ten day period), to the end that the rights of Mortgagor in and to the
leasehold estate created by the Mortgaged Leases shall be kept unimpaired and free from
default. All sums so expended by Mortgagee, with interest thereon at the Default Rate from
the date of each such expenditure, shall be paid by Mortgagor to Mortgagee promptly upon
demand by Mortgagee. Mortgagor shall, within 5 Business Days after written request by
Mortgagee, execute and deliver to Mortgagee, or to any person designated by Mortgagee, such
further instruments, agreements, powers, assignments, conveyances or the like as may be
necessary to complete or perfect the interest, rights or powers of Mortgagee pursuant to
this paragraph.
(c) Mortgagor shall use commercially reasonable efforts to enforce the material
obligations of the lessor under the Mortgaged Leases and shall promptly notify Mortgagee in
writing of any material default by either the lessor or Mortgagor in the performance or
observance of any of the terms, covenants and conditions contained in the Mortgaged Leases.
Mortgagor shall deliver to Mortgagee, within ten Business Days after receipt, a copy of any
written notice of default or noncompliance, material demand or material complaint made by
the lessor under the Mortgaged Leases. If the lessor shall deliver to Mortgagee a copy of
any notice of default given to Mortgagor, such notice shall constitute full authority and
protection to Mortgagee for any actions taken or omitted to be taken in good faith by
Mortgagee on such notice.
19
(d) If any action or proceeding shall be instituted to evict Mortgagor or to recover
possession of the Mortgaged Property from Mortgagor or any part thereof or interest therein
or any action or proceeding otherwise affecting the Mortgaged Leases or this Mortgage shall
be instituted, then Mortgagor shall, immediately after receipt deliver to Mortgagee a true
and complete copy of each petition, summons, complaint, notice of motion, order to show
cause and all other pleadings and papers, however designated, served in any such action or
proceeding.
(e) Mortgagor covenants and agrees that the fee title to the Leased Land and the
leasehold estate created under the Mortgaged Leases shall not merge but shall always remain
separate and distinct, notwithstanding the union of said estates either in Mortgagor or a
third party by purchase or otherwise; and in case Mortgagor acquires the fee title or any
other estate, title or interest in and to the Leased Land, the lien of this Mortgage shall,
without further conveyance, simultaneously with such acquisition, be spread to cover and
attach to such acquired estate and as so spread and attached shall be prior to the lien of
any Mortgage placed on the acquired estate after the date of this Mortgage.
(f) No release or forbearance of any of Mortgagor’s obligations under the Mortgaged
Leases, pursuant to the Mortgaged Leases or otherwise, shall release Mortgagor from any of
its obligations under this Mortgage, including its obligations to pay rent and to perform
all of the terms, provisions, covenants, conditions and agreements of the lessee under the
Mortgaged Leases.
(g) Upon the occurrence and during the continuance of any Event of Default hereunder,
all rights of consent and approval, and all elections of Mortgagor as lessee under the
Mortgaged Leases, together with the right to terminate or to modify the Mortgaged Leases,
which have been assigned for collateral purposes to Mortgagee, shall automatically vest
exclusively in and be exercisable solely by Mortgagee.
(h) Mortgagor will give Mortgagee prompt written notice of the commencement of any
arbitration or appraisal proceeding under and pursuant to the provisions of any Mortgaged
Lease involving amounts in excess of $100,000 on a present value basis. So long as no Event
of Default shall have occurred and be continuing hereunder, Mortgagor may conduct such
proceeding provided that (i) Mortgagee shall have the right to intervene and participate in
any such proceeding, (ii) Mortgagor shall confer with Mortgagee, (iii) Mortgagor shall
exercise all rights of arbitration conferred upon it by the Mortgaged Leases and (iv)
Mortgagor’s selection of an arbitrator or appraiser shall be subject to prior written
approval by Mortgagee; provided, however, that automatically upon the occurrence of an Event
of Default and for so long as it shall be continuing, Mortgagee shall have the sole
authority to conduct any such proceeding and Mortgagor hereby irrevocably appoints and
constitutes Mortgagee as its true and lawful attorney-in-fact, which appointment is coupled
with an interest, in its name, place and stead, to exercise, at the expense of Mortgagor,
all right, title and interest of Mortgagor in connection with such proceeding, including the
right to appoint arbitrators and to conduct arbitration proceedings on behalf of Mortgagor,
following and during the continuance of
an Event of Default. Nothing contained herein shall obligate Mortgagee to participate
in such proceeding.
20
(i) Mortgagor shall give Mortgagee simultaneous written notice of any exercise of any
option or right to renew or extend the term of a Mortgage Lease, together with a copy of the
notice or other document given to the lessor, and shall promptly deliver to Mortgagee a copy
of any acknowledgment by such lessor of the exercise of such option or right. Nothing
contained herein shall affect or limit any rights of Mortgagor or Mortgagee granted under
the Mortgaged Leases.
(j) Mortgagor shall, within ten (10) Business Days after written demand from Mortgagee,
deliver to Mortgagee proof of payment of all items that are required to be paid by Mortgagor
under the Mortgaged Leases, including, without limitation, rent, taxes, operating expenses
and other charges.
(k) (i) The lien of this Mortgage shall attach to all of Mortgagor’s rights and
remedies at any time arising under or pursuant to Section 365(h) of the Bankruptcy
Code, 11 U.S.C. § 365(h), as the same may hereafter be amended (the “Bankruptcy
Code”), including, without limitation, all of Mortgagor’s rights to remain in
possession of the Leased Land. Except as may be expressly permitted under the Credit
Agreement, Mortgagor shall not, without Mortgagee’s prior written consent, elect to
treat the applicable Mortgaged Lease as terminated under Section 365(h)(1)(A)(i) of
the Bankruptcy Code. Any such election made without Mortgagee’s consent shall be
void.
(ii) Mortgagee shall have the right, if an Event of Default shall have occurred
and be continuing or if Mortgagor fails to do so at least 5 Business Days prior to
the last day on which the Mortgagor has the right to do so, to proceed in its own
name or in the name of Mortgagor in respect of any claim, suit, action or proceeding
relating to the rejection of any Mortgaged Lease by the lessor or any other party,
including, without limitation, the right to file and prosecute under the Bankruptcy
Code, without joining or the joinder of Mortgagor, any proofs of claim, complaints,
motions, applications, notices and other documents. Any amounts received by
Mortgagee as damages arising out of the rejection of any Mortgaged Lease as
aforesaid shall be applied first to all costs and expenses of Mortgagee (including,
without limitation, reasonable attorneys’ fees) incurred in connection with the
exercise of any of its rights or remedies under this paragraph and thereafter in
accordance with Section 13(d) of this Mortgage. Mortgagor acknowledges that the
assignment of all claims and rights to the payment of damages from the rejection of
any Mortgaged Lease made under the granting clauses of this Mortgage constitutes a
present irreversible and unconditional assignment and Mortgagor shall, at the
request of Mortgagee, promptly make, execute, acknowledge and deliver, in form and
substance satisfactory to Mortgagee, a UCC Financing Statement (Form UCC-1) and all
such additional instruments, agreements and other documents, as may at any time
hereafter be required by Mortgagee to carry out such assignment.
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(iii) If pursuant to Section 365(h)(1)(B) of the Bankruptcy Code, Mortgagor
shall seek to offset against the rent reserved in the Mortgaged Leases the amount of
any damages caused by the nonperformance by the lessor or any other party of any of
their respective obligations under such Mortgaged Leases after the rejection by the
lessor or such other party of such Mortgaged Leases under the Bankruptcy Code, then
Mortgagor shall, if a Default or Event of Default shall have occurred and be
continuing, prior to effecting such offset, notify Mortgagee of its intent to do so,
setting forth the amount proposed to be so offset and the basis therefor. In such
event, Mortgagee shall have the right to object to all or any part of such offset
that, in the reasonable judgment of Mortgagee, would constitute a breach of such
Mortgaged Lease, and in the event of such objection, Mortgagor shall not effect any
offset of the amounts found objectionable by Mortgagee. Neither Mortgagee’s failure
to object as aforesaid nor any objection relating to such offset shall constitute an
approval of any such offset by Mortgagee.
(iv) If any action, proceeding, motion or notice shall be commenced or filed
in respect of the lessor under any Mortgaged Lease or any other party or in respect
of any such Mortgaged Lease in connection with any case under the Bankruptcy Code,
then Mortgagee shall have the option, exercisable upon notice from Mortgagee to
Mortgagor, to conduct and control any such litigation with counsel of Mortgagee’s
choice. Mortgagee may proceed in its own name or in the name of Mortgagor in
connection with any such litigation, and Mortgagor agrees to execute any and all
powers, authorizations, consents or other documents required by Mortgagee in
connection therewith. Mortgagor shall, upon demand, pay to Mortgagee all costs and
expenses (including reasonable attorneys’ fees) paid or incurred by Mortgagee in
connection with the prosecution or conduct of any such proceedings. Mortgagor shall
not commence any action, suit, proceeding or case, or file any application or make
any motion, in respect of any Mortgaged Lease in any such case under the Bankruptcy
Code without the prior written consent of Mortgagee.
(v) Mortgagor shall, after obtaining knowledge thereof, promptly notify
Mortgagee of any filing by or against the lessor or other party with an interest in
the Real Estate of a petition under the Bankruptcy Code. Mortgagor shall promptly
deliver to Mortgagee, following receipt, copies of any and all notices, summonses,
pleadings, applications and other documents received by Mortgagor in connection with
any such petition and any proceedings relating thereto.
(vi) If there shall be filed by or against Mortgagor a petition under the
Bankruptcy Code and Mortgagor, as lessee under the applicable Mortgaged Lease, shall
determine to reject such Mortgaged Lease pursuant to Section 365(a) of the
Bankruptcy Code, then Mortgagor shall give Mortgagee not less than 20 days’ prior
notice of the date on which Mortgagor shall apply to the Bankruptcy Court for
authority to reject such Mortgaged Lease. Mortgagee shall have the right, but not
the obligation, to serve upon Mortgagor within such twenty (20) day
period a notice stating that Mortgagee demands that Mortgagor apply to the
Bankruptcy Court for authority to assume and assign such Mortgaged Lease to
Mortgagee pursuant to Section 365 of the Bankruptcy Code. If Mortgagee shall serve
upon Mortgagor the notice described in the preceding sentence, Mortgagor shall not
seek to reject such Mortgaged Lease and shall comply with the demand provided for in
the preceding sentence. In addition, effective upon the entry of an order for relief
with respect to Mortgagor under the Bankruptcy Code, Mortgagor hereby assigns and
transfers to Mortgagee a non-exclusive right to apply to the Bankruptcy Court under
subsection 365(d)(4) of the Bankruptcy Code for an order extending the period during
which such Mortgaged Lease may be rejected or assumed.
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(l) Mortgagor shall request and use commercially reasonable efforts to furnish to
Mortgagee, from time to time upon receipt of reasonable notice from Mortgagee, in form and
substance reasonably satisfactory to Mortgagee, an estoppel certificate from the lessor
under any Mortgaged Leases with respect to such Mortgaged Lease.
(m) If any Mortgaged Lease shall be terminated prior to the natural expiration of its
term, and if, pursuant to any provision of such Mortgaged Lease or otherwise, Mortgagee or
its designee shall acquire from the lessor under such Mortgaged Lease a new lease of the
Real Estate or any part thereof, Mortgagor shall have no right, title or interest in or to
such new lease or the leasehold estate created thereby, or renewal privileges therein
contained.
(n) Notwithstanding anything to the contrary set forth herein, to the extent that any
covenant or other obligation of Mortgagor contained herein shall be expressly imposed upon
the lessor under any Mortgaged Lease pursuant to the provisions thereof, Mortgagor shall not
be deemed to be in default of such obligation or covenant with respect to such portion of
the Premises as is covered by such Mortgaged Lease, provided that Mortgagor shall be using
commercially reasonable efforts to enforce such obligations of such lessor in accordance
with the terms of the applicable Mortgaged Lease.
32. Release. If any of the Mortgaged Property shall be sold, transferred or otherwise disposed of by
Mortgagor in a transaction permitted by the Credit Agreement, such Mortgaged Property shall be
automatically released from the Lien of this Mortgage without further action on the part of
Mortgagor, Mortgagee or the Lenders, and shall cease to constitute collateral hereunder, and then
Mortgagee, at the request and sole expense of Mortgagor, shall execute and deliver to Mortgagor all
releases or other documents reasonably necessary or desirable for the release of the Liens created
hereby on such Mortgaged Property. No consent of any Qualified Counterparty shall be required for
any release of Mortgaged Property pursuant to this Section 32.
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33. Last Dollars Secured; Priority. To the extent that this Mortgage secures only a portion of the indebtedness owing or which
may become owing by Mortgagor to the Secured Parties, the parties agree that any payments or
repayments of such indebtedness shall be and be deemed to be applied first to the portion of the
indebtedness that is not secured hereby, it being the parties’ intent that the portion of the
indebtedness last remaining unpaid shall be secured hereby. If at any time this Mortgage shall
secure less than all of the principal amount of the Obligations, it is expressly agreed that any
repayments of the principal amount of the Obligations shall not reduce the amount of the lien of
this Mortgage until such lien amount shall equal the principal amount of the Obligations
outstanding.
34. Receipt of Copy. The Mortgagor acknowledges that it has received a true copy of this Mortgage.
35. [ Law Provisions.] [ADD OTHER PROVISIONS REQUIRED OR CUSTOMARY IN LOCAL
JURISDICTION.]
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This Mortgage has been duly executed by Mortgagor as of the date first set forth above.
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MAPCO EXPRESS, INC.
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CERTIFICATE OF ACKNOWLEDGMENT
State of
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County of
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) ss:
On the
________ day of ________ in the year 20___ before me, the
undersigned, personally appeared _________ personally known to me or proved to me on the basis of satisfactory evidence to be
the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me
that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their
signature(s) on the instrument, the individual(s), or the person upon behalf of which the
individual(s) acted, executed the instrument.
2
Schedule A
Description of the Owned Land
Schedule B
Description of the Leased Land and Mortgaged Leases
EXHIBIT E
FORM OF
ASSIGNMENT AND ACCEPTANCE
Reference is made to the Second Amended and Restated Credit Agreement, dated as of December
10, 2009 (as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among MAPCO EXPRESS, INC., a Delaware corporation (“MAPCO Express”,
together with each other Person who becomes a borrower thereunder by execution of a joinder, as
“Borrowers”), the Lenders parties thereto, FIFTH THIRD BANK, an Ohio banking corporation,
as joint lead arranger and sole bookrunner (in such capacity, the “Arranger”), FIFTH THIRD
BANK, an Ohio banking corporation, as administrative agent (in such capacity, the
“Administrative Agent”), and others. Unless otherwise defined herein, terms defined in the
Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.
The Assignor identified on Schedule 1 hereto (the “Assignor”) and the Assignee
identified on Schedule 1 hereto (the “Assignee”) agree as follows:
1. The Assignor hereby irrevocably sells and assigns to the Assignee without recourse to the
Assignor, and the Assignee hereby irrevocably purchases and assumes from the Assignor without
recourse to the Assignor, as of the Effective Date (as defined below), the interest described in
Schedule 1 hereto (the “Assigned Interest”) in and to the Assignor’s rights and obligations
under the Credit Agreement with respect to those credit facilities contained in the Credit
Agreement as are set forth on Schedule 1 hereto (individually, an “Assigned Facility”;
collectively, the “Assigned Facilities”), in a principal amount for each Assigned Facility
as set forth on Schedule 1 hereto.
2. The Assignor (a) makes no representation or warranty and assumes no responsibility with
respect to any statements, warranties or representations made in or in connection with the Credit
Agreement or with respect to the execution, legality, validity, enforceability, genuineness,
sufficiency or value of the Credit Agreement, any other Loan Document or any other instrument or
document furnished pursuant thereto, other than that the Assignor has not created any adverse claim
upon the interest being assigned by it hereunder and that such interest is free and clear of any
such adverse claim; (b) makes no representation or warranty and assumes no responsibility with
respect to the financial condition of any Borrower, any of its Subsidiaries or any other obligor or
the performance or observance by such Borrower, any of its Subsidiaries or any other obligor of any
of their respective obligations under the Credit Agreement or any other Loan Document or any other
instrument or document furnished pursuant hereto or thereto; and (c) attaches any Notes held by it
evidencing the Assigned Facilities and (i) requests that the Administrative Agent, upon request by
the Assignee, exchange the attached Notes for a new Note or Notes payable to the Assignee and (ii)
if the Assignor has retained any interest in the Assigned Facility, requests that the
Administrative Agent exchange the attached Notes for a new Note or Notes payable to the Assignor,
in each case in amounts which reflect the assignment being made hereby (and after giving effect to
any other assignments which have become effective on the Effective Date).
3. The Assignee (a) represents and warrants that it is legally authorized to enter into this
Assignment and Acceptance; (b) confirms that it has received a copy of the Credit Agreement,
together with copies of the financial statements delivered pursuant to Section 4.1 thereof and such
other documents and information as it has deemed appropriate to make its own credit analysis and
decision to enter into this Assignment and Acceptance; (c) agrees that it will, independently and
without reliance upon the Assignor, the Agents or any other Lender and based on such documents and
information as it shall deem appropriate at the time, continue to make its own credit decisions in
taking or not taking action under the Credit Agreement, the other Loan Documents or any other
instrument or document furnished pursuant hereto or thereto; (d) appoints and authorizes the Agents
to take such action as agent on its behalf and to exercise such powers and discretion under the
Credit Agreement, the other Loan Documents or any other instrument or document furnished pursuant
hereto or thereto as are delegated to the Agents by the terms thereof, together with such powers as
are incidental thereto; and (e) agrees that it will be bound by the provisions of the Credit
Agreement and will perform in accordance with its terms all the obligations which by the terms of
the Credit Agreement are required to be performed by it as a Lender including, if it is organized
under the laws of a jurisdiction outside the United States, its obligation pursuant to Section
2.18(d) of the Credit Agreement.
4. The effective date of this Assignment and Acceptance shall be the Effective Date of
Assignment described in Schedule 1 hereto (the “Effective Date”). Following the execution
of this Assignment and Acceptance, it will be delivered to the Administrative Agent for acceptance
by it and recording by the Administrative Agent pursuant to the Credit Agreement, effective as of
the Effective Date (which shall not, unless otherwise agreed to by the Administrative Agent, be
earlier than five Business Days after the date of such acceptance and recording by the
Administrative Agent).
5. Upon such acceptance and recording, from and after the Effective Date, the Administrative
Agent shall make all payments in respect of the Assigned Interest (including payments of principal,
interest, fees and other amounts) [to the Assignor for amounts which have accrued to the Effective
Date and to the Assignee for amounts which have accrued subsequent to the Effective Date] [to the
Assignee whether such amounts have accrued prior to the Effective Date or accrue subsequent to the
Effective Date. The Assignor and the Assignee shall make all appropriate adjustments in payments by
the Agent for periods prior to the Effective Date or with respect to the making of this assignment
directly between themselves.]
6. From and after the Effective Date, (a) the Assignee shall be a party to the Credit
Agreement and, to the extent provided in this Assignment and Acceptance, have the rights and
obligations of a Lender thereunder and under the other Loan Documents and shall be bound by the
provisions thereof and (b) the Assignor shall, to the extent provided in this Assignment and
Acceptance, relinquish its rights and be released from its obligations under the Credit Agreement.
7. This Assignment and Acceptance shall be governed by and construed in accordance with the
laws of the State of New York.
IN WITNESS WHEREOF, the parties hereto have caused this Assignment and Acceptance to be
executed as of the date first above written by their respective duly authorized officers on
Schedule 1 hereto.
Schedule 1
to Assignment and Acceptance
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Effective Date of Assignment: |
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Credit
Facility Assigned
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Principal
Amount Assigned
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[Revolving Credit Percentage Assigned]* |
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$__________
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____.____% |
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[Name of Assignee] |
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[Name of Assignor] |
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By:
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Calculate the Commitment Percentage that is assigned to at least 15 decimal places and show
as a percentage of the aggregate commitments of all Lenders. |
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Accepted: |
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Consented To:* |
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FIFTH THIRD BANK, as
Administrative Agent |
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MAPCO EXPRESS, INC. |
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FIFTH THIRD BANK, as Administrative Agent
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[Issuing Lender]
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EXHIBIT
F
[Letterhead of Bass, Xxxxx & Xxxx PLC]
[Date]
Fifth Third Bank, as Administrative Agent
00 Xxxxxxxx Xxxxxx Xxxxx
Xxxxxxxxxx, Xxxx 00000
and
Each of the Lenders party to the Credit Agreement,
as hereafter defined
Ladies and Gentlemen:
We have acted as special counsel to MAPCO EXPRESS, INC., a Delaware corporation (the
“
Borrower”),
Delek US Holdings, Inc., a Delaware corporation (“
Holdings”), Gasoline
Associated Services, Inc., an Alabama corporation (“
GAS”), and Liberty Wholesale Co., Inc.,
an Alabama corporation (“
Liberty”), in connection with the transactions that are the
subject of the Credit Agreement, as hereinafter defined. Capitalized terms used but not otherwise
defined herein have the same meanings as in the Credit Agreement. This opinion letter is provided
to you at the request of the Borrower pursuant to subsection 5.1(k) of the Credit Agreement.
In connection with this opinion, we have examined that certain First Amendment to Second
Amended and Restated Credit Agreement dated [Date] (the “Amendment” and together with the
Second Amended and Restated Credit Agreement attached as Exhibit A thereto, the “Credit
Agreement”), among the Borrower, the several banks and other financial institutions or entities
from time to time parties to the Credit Agreement (the “Lenders”), and FIFTH THIRD BANK, an
Ohio banking corporation, successor by merger with FIFTH THIRD BANK, N.A., as administrative agent
(in such capacity, the “Administrative Agent”), and the other documents identified on
Exhibit A (together with the First Amendment, collectively the “Transaction
Documents”);
The Borrower and Holdings are sometimes herein referred to collectively as the “Delaware
Entities” and individually as a “Delaware Entity”.
The Borrower, Holdings, GAS and Liberty are sometimes herein referred to collectively as the
“Loan Parties” and individually as a “Loan Party”.
We have also reviewed such other corporate records of the Delaware Entities, including the
organizational documents of the Delaware Entities identified on Exhibit B, such other
certificates of public officials and such other matters regarding the Delaware Entities as we have
deemed necessary or appropriate for purposes of this opinion letter. As to factual matters, we
have assumed the correctness of and relied upon statements and other representations and warranties
of the Delaware Entities and the officers thereof set forth in the Transaction Documents and in
certificates provided pursuant to or in connection with the Transaction Documents or otherwise
provided to us, and upon certificates of public officials, and we have
made no independent inquiries or investigations. For purposes of the opinions on the
existence and good standing of the Delaware Entities, we have relied solely upon the Certificates
of Good Standing.
Fifth Third Bank, as Administrative Agent
[Date]
Page 2
In making such examination and in expressing our opinions, we have further assumed, without
investigation or inquiry:
(a) the due organization and existence of all parties to the Transaction Documents, except to
the extent that we express an opinion in Paragraph 1 below regarding the existence of the
Delaware Entities,
(b) the legal capacity of all natural persons,
(c) the due authorization of the Transaction Documents by all parties thereto, except to the
extent that we express an opinion in Paragraph 1 below regarding the authorization of the
Transaction Documents by the Delaware Entities,
(d) the due execution and delivery of the Transaction Documents by all parties thereto, except
to the extent that we express an opinion in Paragraph 2 below regarding the execution and
delivery of the Transaction Documents by the Loan Parties,
(e) that all parties to the Transaction Documents have the legal right, power and authority to
enter into the Transaction Documents and to consummate the transactions contemplated thereby,
except to the extent that we express an opinion in Paragraph 1 below regarding the
corporate power and corporate authority of the Delaware Entities,
(f) that all signatures on any executed documents furnished to us are genuine (other than
signatures by or on behalf of the Loan Parties), all original documents submitted to us are
authentic originals and all certified or other reproductions of documents submitted to us conform
to the original documents,
(g) that the Borrower owns, beneficially and of record, the property and/or interests in
property that it purports to transfer, or in which it purports to xxxxx x xxxx or security
interest, pursuant to the Transaction Documents,
(h) that all property descriptions used in the Transaction Documents accurately and
sufficiently describe the subject property,
(i) that to the extent that attachment of the security interests of the Transaction Documents
is governed by the law of any jurisdiction other than Tennessee, such security interests have
attached under such law,
(j) that the indebtedness incurred and obligations undertaken pursuant to the Transaction
Documents have been incurred and undertaken for adequate consideration;
Fifth Third Bank, as Administrative Agent
[Date]
Page 3
(k) that the Financing Statements will be appropriately recorded and filed in the offices
referred to herein, and
(l) that, notwithstanding any broader descriptions of the Collateral (as defined in the
Guarantee and Collateral Agreement) that may have been used in the Guarantee and Collateral
Agreement, none of such Collateral consists of as-extracted collateral or timber to be cut.
Based upon the foregoing and subject to the assumptions, limitations and qualifications herein
set forth, we are of the opinion that:
1. Each Delaware Entity is a validly existing Delaware corporation, in good standing under the
laws of Delaware. Each Delaware Entity has the corporate power and corporate authority to execute
and deliver the Transaction Documents to which it is a party and to enter into and perform its
obligations thereunder. Each Delaware Entity has the corporate power and corporate authority to
enter into and perform its obligations under the Credit Agreement. The execution of the
Transaction Documents to which it is a party and the delivery of the Transaction Documents and the
Credit Agreement and the performance and observance of the provisions thereof have been duly
authorized by all necessary corporate actions on the part of the Delaware Entities.
2. The Transaction Documents have been duly executed and delivered by the Loan Parties.
3. Each of the Transaction Documents, as executed and delivered, to which a Loan Party is a
party is a valid and binding obligation of such Loan Party, and is enforceable against such Loan
Party in accordance with its terms.
4. Assuming immediately prior to the First Amendment Effective Date, the Existing Credit
Agreement is enforceable against the Loan Parties in accordance with its terms and assuming the
First Amendment Effective Date has occurred under the terms of the First Amendment, then the Credit
Agreement is a valid and binding obligation of such Loan Party, and is enforceable against such
Loan Party in accordance with its terms.
5. The execution, delivery and, where applicable, recording, of the Transaction Documents, and
the consummation of the financing transaction that is the subject thereof, (a) do not violate any
federal or Tennessee statute or regulation or the General Corporation Law of Delaware, (b) do not
contravene any Delaware Entity’s Certificate of Incorporation or Bylaws or any judgment, order or
decree of any court or arbitrator known to us specifically directed to any Loan Party and do not
constitute a default under or breach of the terms of, or an event that, with the lapse of time or
giving of notice, or both, would constitute a default under or breach of, or require the consent
(which has not been obtained) of any person under the terms of, any contract to which any Loan
Party is a party or by which any of its property is bound and that is identified
on Schedule 1 to this opinion, and (c) will not impair the effectiveness of any
financing statement naming any Delaware Entity as a debtor that has been centrally filed in
Delaware under the Delaware Uniform Commercial Code (the “Delaware UCC”) in connection with
the transactions that are the subject of the Existing Credit Agreement as amended by the Credit
Agreement.
Fifth Third Bank, as Administrative Agent
[Date]
Page 4
6. Assuming immediately prior to the First Amendment Effective Date, the Existing Credit
Agreement is enforceable against the Loan Parties in accordance with its terms and assuming the
First Amendment Effective Date has occurred under the terms of the Amendment, the execution,
delivery of the Credit Agreement and the consummation of the financing transaction that is the
subject thereof, (a) do not violate any federal or Tennessee statute or regulation or the General
Corporation Law of Delaware, (b) do not contravene any Delaware Entity’s Certificate of
Incorporation or Bylaws or any judgment, order or decree of any court or arbitrator known to us
specifically directed to any Loan Party and do not constitute a default under or breach of the
terms of, or an event that, with the lapse of time or giving of notice, or both, would constitute a
default under or breach of, or require the consent (which has not been obtained) of any person
under the terms of, any contract to which any Loan Party is a party or by which any of its property
is bound and that is identified on Schedule 1 to this opinion, and (c) will not impair the
effectiveness of any financing statement naming any Delaware Entity as a debtor that has been
centrally filed in Delaware under the Delaware Uniform Commercial Code (the “Delaware UCC”)
in connection with the transactions that are the subject of the Existing Credit Agreement as
amended by the Credit Agreement.
7. No authorization, consent, approval or other action by or filing with any federal,
Tennessee or Delaware governmental authority is required for the execution and delivery of the
Transaction Documents by the Loan Parties.
8. No Loan Party is required to register as an “investment company” within the meaning of the
Investment Company Act.
9. Assuming that the Borrower applies the proceeds of the Loans as provided in the Credit
Agreement, the Loans do not violate the provisions of Regulations T, U or X of the Board of
Governors of the Federal Reserve System.
10. Assuming that immediately prior to the execution and delivery of the Tennessee Deed of
Trust Amendments, each corresponding Deed of Trust (as defined on Schedule 2 and as
previously amended) was effective as a lien upon, security title to and security interest in the
Borrower’s interest in the real property described in such Deed of Trust, the effectiveness of each
Deed of Trust as a lien upon, security title to and security interest in such property and
interests in property will not be adversely affected by the execution, delivery or recording its
corresponding Tennessee Deed of Trust Amendment and, following such execution, delivery and
recording, such Deed of Trust, as amended by its corresponding Tennessee Deed of Trust Amendment,
will continue to be effective as a lien upon, security title to and security interest in
such property and interests in property, subject to and in accordance with the terms and
conditions thereof.
Fifth Third Bank, as Administrative Agent
[Date]
Page 5
11. Assuming, with your permission and without any investigation or inquiry by us, that the
Uniform Commercial Code as enacted in the State of New York is identical to the Uniform Commercial
Code as enacted in the State of Tennessee, the Guarantee and Collateral Agreement is effective to
create in favor of the Administrative Agent for the ratable benefit of itself and the Lenders an
enforceable security interest in all right, title and interest of the Loan Parties in the
Collateral referred to in the Guarantee and Collateral Agreement, to the extent that a security
interest therein may be created under the Uniform Commercial Code as enacted in the State of New
York.
12. Upon the filing of the Financing Statement in the Office of the Secretary of State of
Delaware pursuant to authorization by the Borrower, the security interests of the Guarantee and
Collateral Agreement in the personal property of the Delaware Entities that is described both in
the Guarantee and Collateral Agreement and in the Financing Statement will be perfected to the
extent that a security interest therein may be perfected by the filing of a financing statement in
Delaware under the Delaware UCC; provided, however, that:
(a) continuation statements must be filed timely to prevent a lapse in the
effectiveness of a filed financing statement,
(b) additional filings may be necessary if either Delaware Entity changes its name or
location or if a new debtor becomes bound by the Guarantee and Collateral Agreement,
(c) the perfection of a security interest in proceeds is limited to the extent provided
in Section 9-315 of the Delaware UCC,
(d) Section 552 of the federal Bankruptcy Code limits the extent to which property
acquired by a debtor after the commencement of a case under the Bankruptcy Code may be
subject to a security interest arising from a security agreement entered into by the debtor
prior to the commencement of the case,
(e) under applicable provisions of the Delaware UCC, the law of a jurisdiction other
than Tennessee may govern (i) perfection of a security interest in collateral in which the
security interest is perfected by possession, (ii) perfection of a security interest in
collateral consisting of fixtures in which the security interest is perfected by a fixture
filing, (iii) perfection of a security interest in collateral consisting of timber to be
cut, (iv) perfection of a security interest in as-extracted collateral, (v) perfection of an
agricultural lien on farm products, and (vi) perfection of a security interest in collateral
consisting of goods covered by a certificate of title, deposit accounts, investment property
or letter of credit rights, and
Fifth Third Bank, as Administrative Agent
[Date]
Page 6
(f) catch-all references in the Guarantee and Collateral Agreement to “assets” and
“personal property” are probably overbroad and accordingly ineffective to result in the
inclusion of any types or items of collateral not otherwise described with greater
precision.
We hereby confirm that, to our knowledge, there are no suits, actions or proceedings against
the Loan Parties, pending or overtly threatened in writing, before any court, governmental agency
or arbitrator, that seek to affect the enforceability of the Transaction Documents.
We express no opinion as to the enforceability of the choice of law provisions contained in
the Transaction Documents under the laws of New York or Tennessee, nor, assuming such provisions
would be enforceable under the choice-of-law principles of New York and Tennessee, do we state any
opinion as to the enforceability of the Transaction Documents under the internal laws of New York.
Notwithstanding the foregoing, you have requested us to examine the Transaction Documents and
provide you with the opinions set forth above assuming, solely for purposes of such opinions, that
the internal laws of Tennessee would govern them. If the Transaction Documents were to be governed
by the internal laws of Tennessee, our opinions would be as set forth herein. We note that if a
court of competent jurisdiction determines one or more of the Transaction Documents to be
unenforceable under the laws of New York, then such Loan Document(s) may not be enforced by
Tennessee courts under applicable Tennessee conflict of law principles. Further, and without
limiting the foregoing, but in furtherance thereof, we express no opinion as to the Uniform
Commercial Code as enacted in New York, but have, with your permission, assumed for the purposes of
our opinions in Paragraph 11, that the Uniform Commercial Code as enacted in New York is
identical to the Uniform Commercial Code as enacted in Tennessee.
The opinions expressed herein are limited to the laws of Tennessee, the General Corporation
Law of Delaware (as to matters of corporate law addressed in opinions in Paragraphs 1, 5
and 6), Article 9 of the Delaware UCC (as to matters of secured transaction law addressed
in Paragraphs 5(c), 6(c) and 12) and the federal laws of the United States of America. We
advise you, however, that we are members of the Bar of the State of Tennessee, and we are not
members of the Bar of Delaware. Accordingly, to the extent that opinions regarding existence,
corporate power, authority, authorization, execution, delivery of documents, or other matters of
corporate law are contained in the opinions set forth above and the Delaware UCC, as they relate to
Borrower, we point out that we are not authorized to practice law in the State of Delaware and that
such opinions are based solely upon our review and examination of the General Corporation Law of
Delaware (Del. Code Xxx. Title 8, § 101, et seq.) and Article 9 of the Delaware UCC, and we have
not examined any other Delaware statutes or any court decisions from Delaware.
Fifth Third Bank, as Administrative Agent
[Date]
Page 7
The opinions expressed herein are qualified as follows:
(a) The validity, binding nature and enforceability of any liability, obligation,
instrument, document or agreement are subject to (i) applicable bankruptcy, reorganization,
insolvency, moratorium, fraudulent conveyance, fraudulent transfer and other federal and
state laws affecting the rights and remedies of creditors, and (ii) general principles of
equity (including, without limitation, concepts of materiality, reasonableness, good faith
and fair dealing and the possible unavailability of specific performance, injunctive relief
and other equitable remedies), whether applied in a proceeding at law or in equity.
(b) Certain rights, remedies, waivers and procedures contained in the Transaction
Documents and the Deeds of Trust may be limited or rendered ineffective by applicable
Tennessee laws or judicial decisions; however, the inclusion of such rights, remedies,
waivers and procedures does not render the Transaction Documents invalid as a whole and,
subject to the other qualifications and limitations set forth herein, there exist, in the
Transaction Documents and the Deeds of Trust or pursuant to applicable law, legally adequate
remedies to realize the principal benefits and security reasonably intended to be provided
by the Transaction Documents and the Deeds of Trust.
(c) We express no opinion as to compliance, or the effect of any noncompliance, with
applicable laws governing interest and usury.
(d) We express no opinion as to the title to any property or the priority of any lien
on or any security or other interest in any property.
(e) We express no opinion with respect to any matters that would require us to perform
a mathematical calculation or make a determination as to financial or accounting matters
(including but not limited to compliance or noncompliance with financial covenants or
ratios).
(f) We express no opinion herein as to the enforceability of the Guarantee and
Collateral Agreement (i) following any future extension, rearrangement, modification or
renewal of the Loan, or (ii) as a guaranty of any indebtedness or obligation other than the
Loan.
(g) We express no opinion as to the authorization of (i) any increase in the Revolving
Credit Commitment pursuant to Section 2.26 (an “Incremental Increase”), (ii) any
instrument or agreement between or among the Loan Parties, the Agent and any of the Lenders
to effectuate an Incremental Increase or (iii) any Loan or other extension of credit that
requires utilization of an increase in the Incremental Increase.
Fifth Third Bank, as Administrative Agent
[Date]
Page 8
Our opinion is rendered as of the date hereof and we assume no obligation to advise you of
changes in law or fact (or the effect thereof on the opinions expressed herein) that hereafter may
come to our attention.
As used in Paragraph 8 above, “corresponding Deed of Trust”, “corresponding Tennessee
Deed of Trust Amendment” and any similar expression refer, in each case, to a Deed of Trust and the
applicable Tennessee Deed of Trust Amendment that is to amend such Deed of Trust as indicated on
Schedule 2.
As used herein, “knowledge”, “known to us”, “to our knowledge” and any similar expression
refer solely to the current, actual knowledge, acquired during the course of the representation
described in the introductory paragraph of this letter, of those attorneys in this firm who have
rendered legal services in connection with such representation (excluding any lawyers whose
involvement has been limited to reviewing this opinion as part of our firm’s opinion review
procedure).
The opinions rendered herein are solely for the benefit of the Administrative Agent, the
Lenders and their respective successors and assigns in connection with the transactions that are
the subject of the Transaction Documents, and this opinion letter may not be delivered to or relied
upon by any other person nor quoted or reproduced in any report or other document without our prior
written consent in each case; provided, however, that a copy of this opinion letter may be
furnished to your regulators, accountants, attorneys and other professional advisors for the
purpose of confirming its existence, and this opinion letter may be disclosed in connection with
any legal or regulatory proceeding relating to the subject matter hereof.
Very truly yours,
EXHIBIT A
TRANSACTION DOCUMENTS
EXHIBIT B
DELAWARE ENTITIES’ ORGANIZATIONAL DOCUMENTS
SCHEDULE 1
SCHEDULED AGREEMENTS
SCHEDULE 2
DEEDS OF TRUST
EXHIBIT G-1
FORM OF SECOND AMENDED AND SUBSTITUTED REVOLVING CREDIT NOTE
THIS NOTE AND THE OBLIGATIONS REPRESENTED HEREBY MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE WITH
THE TERMS AND PROVISIONS OF THE CREDIT AGREEMENT REFERRED TO BELOW. TRANSFERS OF THIS NOTE AND THE
OBLIGATIONS REPRESENTED HEREBY MUST BE RECORDED IN THE REGISTER MAINTAINED BY THE ADMINISTRATIVE
AGENT PURSUANT TO THE TERMS OF SUCH CREDIT AGREEMENT.
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$_______________________
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New York, New York |
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Dated as of April 28, 2005 |
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Amended and Substituted as of December 10, 2009 |
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Further Amended and Substituted as of ___________ ____, 20_____ |
FOR VALUE RECEIVED, the undersigned, MAPCO EXPRESS, INC., a Delaware corporation (“MAPCO
Express”, together with each other Person who becomes a borrower under the Credit Agreement
referred to below by execution of a joinder, the “Borrowers”), hereby unconditionally, jointly and
severally, promise to pay to ______________________ (the “Lender”) or its registered assigns at the
Payment Office specified in the Credit Agreement (as hereinafter defined) in lawful money of the
United States and in immediately available funds, on the Revolving Credit Termination Date the
principal amount of (a) _______________ DOLLARS ($______________), or, if less, (b) the aggregate
unpaid principal amount of all Revolving Credit Loans made by the Lender to the Borrowers pursuant
to Section 2.4 of the Credit Agreement. The Borrowers further jointly and severally agree to pay
interest in like money at such Payment Office on the unpaid principal amount hereof from time to
time outstanding at the rates and on the dates specified in Section 2.13 of the Credit Agreement.
The holder of this Note is authorized to indorse on the schedules annexed hereto and made a
part hereof or on a continuation thereof which shall be attached hereto and made a part hereof the
date, Type and amount of each Revolving Credit Loan made pursuant to the Credit Agreement and the
date and amount of each payment or prepayment of principal thereof, each continuation thereof, each
conversion of all or a portion thereof to another Type and, in the case of Eurodollar Loans, the
length of each Interest Period with respect thereto. Each such indorsement shall constitute
prima facie evidence of the accuracy of the information indorsed. The failure to
make any such indorsement or any error in any such indorsement shall not affect the obligations of
the Borrowers in respect of any Revolving Credit Loan.
This Second Amended and Substituted Revolving Credit Note (a) is one of the Revolving Credit
Notes referred to in the Second Amended and Restated Credit Agreement dated as of December 10, 2009
(as amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among the Borrowers, the Lender, the other Lenders parties thereto, Fifth Third Bank,
as Administrative Agent, and others, (b) is subject to the provisions of the Credit Agreement and
(c) is subject to optional and mandatory prepayment in whole or in part as provided in the Credit
Agreement. This Note is secured and guaranteed as provided in the Loan Documents. Reference is
hereby made to the Loan Documents for a description of the
properties and assets in which a security interest has been granted, the nature and extent of
the security and the guarantees, the terms and conditions upon which the security interests and
each guarantee were granted and the rights of the holder of this Note in respect thereof.
Upon the occurrence of any one or more of the Events of Default, all principal and all accrued
interest then remaining unpaid on this Note shall become, or may be declared to be, immediately due
and payable, all as provided in the Credit Agreement.
All parties now and hereafter liable with respect to this Note, whether maker, principal,
surety, guarantor, indorser or otherwise, hereby waive presentment, demand, protest and all other
notices of any kind.
Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.
NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN OR IN THE CREDIT AGREEMENT, THIS
NOTE MAY NOT BE TRANSFERRED EXCEPT PURSUANT TO AND IN ACCORDANCE WITH THE REGISTRATION AND OTHER
PROVISIONS OF SECTION 10.6 OF THE CREDIT AGREEMENT.
It is expressly understood and agreed by each Borrower that (i) the principal balance of this
Note includes certain Obligations hitherto evidenced by those certain Revolving Credit Notes dated
April 28, 2005, those certain Amended and Substituted Revolving Credit Notes dated as of December
10, 2009 and any other Revolving Credit Notes executed by any Borrower in favor of Lender in
accordance with the Credit Agreement (the “Existing Notes”) and (ii) to the extent any of
such Obligations are included in the principal balance of this Note, this Note (a) merely
re-evidences such Obligations, (b) is given in substitution for, and not in payment of, the
Existing Notes and (c) is in no way intended, and shall not be deemed or construed, to constitute a
novation of the Existing Notes.
2
THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF
THE STATE OF NEW YORK.
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MAPCO EXPRESS, INC.
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By: |
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Name: |
Xxxx X. Xxx |
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Title: |
Executive Vice President and Chief Financial Officer |
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By: |
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Name: |
Xxxxxx X. Xxxxxxxx |
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Title: |
Vice President |
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Second Amended and Substitute Revolving Note. |
Schedule A
to Revolving Credit Note
LOANS, CONVERSIONS AND REPAYMENTS OF BASE RATE LOANS
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Amount of Principal |
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Amount of Base Rate |
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Amount of Base Rate |
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Amount Converted to |
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of Base Rate Loans |
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Loans Converted to |
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Unpaid Principal Balance |
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Notation Made |
Date |
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Loans |
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Base Rate Loans |
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Repaid |
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Eurodollar Loans |
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of Base Rate Loans |
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By |
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Second Amended and Substitute Revolving Note. |
Schedule B
to Revolving Credit Note
LOANS, CONTINUATIONS, CONVERSIONS AND REPAYMENTS OF EURODOLLAR LOANS
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Interest Period and |
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Amount of |
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Amount |
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Eurodollar Rate |
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Amount of Principal |
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Eurodollar Loans |
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Unpaid Principal |
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Amount of |
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Converted to |
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with Respect |
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of Eurodollar Loans |
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Converted to Base |
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Balance of |
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Notation |
Date |
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Eurodollar Loans |
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Eurodollar Loans |
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Thereto |
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Repaid |
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Rate Loans |
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Eurodollar Loans |
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Made By |
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Second Amended and Substitute Revolving Note. |
EXHIBIT G-2
FORM OF SECOND AMENDED AND SUBSTITUTED SWING LINE NOTE
THIS NOTE AND THE OBLIGATIONS REPRESENTED HEREBY MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE WITH
THE TERMS AND PROVISIONS OF THE CREDIT AGREEMENT REFERRED TO BELOW. TRANSFERS OF THIS NOTE AND THE
OBLIGATIONS REPRESENTED HEREBY MUST BE RECORDED IN THE REGISTER MAINTAINED BY THE ADMINISTRATIVE
AGENT PURSUANT TO THE TERMS OF SUCH CREDIT AGREEMENT.
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$10,000,000
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New York, New York |
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Dated as of April 28, 2005 |
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Amended and Substituted as of December 10, 2009 |
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Further Amended and Substituted as of ___________ ____, 20_____ |
FOR VALUE RECEIVED, the undersigned, MAPCO EXPRESS, INC., a Delaware corporation (“MAPCO
Express”, together with each other Person who becomes a borrower under the Credit Agreement
referred to below by execution of a joinder, the “Borrowers”), hereby unconditionally, jointly and
severally, promise to pay to Fifth Third Bank (the “Swing Line Lender”) or its registered assigns
at the Payment Office specified in the Credit Agreement (as hereinafter defined) in lawful money of
the United States and in immediately available funds, on the Revolving Credit Termination Date the
principal amount of (a) TEN MILLION DOLLARS ($10,000,000), or, if less, (b) the aggregate unpaid
principal amount of all Swing Line Loans made by the Swing Line Lender to the Borrowers pursuant to
Section 2.23 of the Credit Agreement, as hereinafter defined, outstanding on such date. The
Borrowers further jointly and severally agree to repay each outstanding Swing Line Loan made by the
Swing Line Lender on the date that is the earlier of (x) the Revolving Credit Termination Date and
(y) the date that is the seventh Business Day after the date on which such Swing Line Loan is made.
Furthermore, the Borrowers agree to pay interest in like money at such office on the unpaid
principal amount hereof from time to time outstanding at the rates and on the dates specified in
Section 2.13 of such Credit Agreement.
The holder of this Note is authorized to indorse on the schedules annexed hereto and made a
part hereof or on a continuation thereof which shall be attached hereto and made a part hereof the
date and amount of each Swing Line Loan made pursuant to the Credit Agreement and the date and
amount of each payment or prepayment of principal thereof. Each such indorsement shall constitute
prima facie evidence of the accuracy of the information indorsed. The failure to
make any such indorsement or any error in any such indorsement shall not affect the obligations of
the Borrowers in respect of any Swing Line Loan.
This Second Amended and Substituted Swing Line Note (a) is the Swing Line Note referred to in
the Second Amended and Restated Credit Agreement dated as of December 10, 2009 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the
Borrowers, the Swing Line Lender, the other Lenders parties thereto, Fifth Third Bank, as
Administrative Agent, and others, (b) is subject to the provisions of the Credit Agreement and (c)
is subject to optional and mandatory prepayment in whole or in part as
provided in the Credit Agreement. This Note is secured and guaranteed to the extent provided
in the Loan Documents. Reference is hereby made to the Loan Documents for a description of the
properties and assets in which a security interest has been granted, the nature and extent of the
security and the guarantees, the terms and conditions upon which the security interests and each
guarantee were granted and the rights of the holder of this Note in respect thereof.
Upon the occurrence of any one or more of the Events of Default, all principal and all accrued
interest then remaining unpaid on this Note shall become, or may be declared to be, immediately due
and payable, all as provided in the Credit Agreement.
All parties now and hereafter liable with respect to this Note, whether maker, principal,
surety, guarantor, indorser or otherwise, hereby waive presentment, demand, protest and all other
notices of any kind.
Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.
NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN OR IN THE CREDIT AGREEMENT, THIS
NOTE MAY NOT BE TRANSFERRED EXCEPT PURSUANT TO AND IN ACCORDANCE WITH THE REGISTRATION AND OTHER
PROVISIONS OF SECTION 10.6 OF THE CREDIT AGREEMENT.
It is expressly understood and agreed by each Borrower that (i) the principal balance of this
Note includes certain Obligations hitherto evidenced by that certain Swing Line Note dated April
28, 2005, that certain Amended and Substituted Swing Line Note dated December 10, 2009 and any
other Swing Line Notes executed by any Borrower in favor of Swing Line Lender in accordance with
the Credit Agreement (the “Existing Notes”) and (ii) to the extent any of such Obligations
are included in the principal balance of this Note, this Note (a) merely re-evidences such
Obligations, (b) is given in substitution for, and not in payment of, the Existing Notes and (c) is
in no way intended, and shall not be deemed or construed, to constitute a novation of the Existing
Notes.
2
THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF
THE STATE OF NEW YORK.
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MAPCO EXPRESS, INC.
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By: |
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Name: |
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Title: |
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By: |
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Name: |
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Title: |
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ANNEX I
Schedule A
to Swing Line Note
LOANS AND REPAYMENTS OF SWING LINE LOANS
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Amount of Swing Line |
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Amount of Principal of Swing |
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Unpaid Principal Balance |
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Date |
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Loans |
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Line Loans Repaid |
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of Swing Line Loans |
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Notation Made By |
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EXHIBIT H
FORM OF EXEMPTION CERTIFICATE
Reference is made to the Second Amended and Restated Credit Agreement, dated as of December
10, 2009 (as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”) MAPCO EXPRESS, INC., a Delaware corporation (“MAPCO Express”, together with each
other Person who becomes a borrower thereunder by execution of a joinder, the “Borrowers”), the
Lenders parties thereto, FIFTH THIRD BANK, as Joint Lead Arranger and Sole Bookrunner, FIFTH THIRD
BANK, as Administrative Agent, and others. Capitalized terms used herein that are not defined
herein shall have the meanings ascribed to them in the Credit Agreement.
___________________________ (the “Non-U.S. Lender”) is providing this certificate pursuant to Section 2.18(d) of
the Credit Agreement. The Non-U.S. Lender hereby represents and warrants that:
1. The Non-U.S. Lender is the sole record and beneficial owner of the Loans or the obligations
evidenced by Note(s) in respect of which it is providing this certificate.
2. The Non-U.S. Lender is not a “bank” for purposes of Section 881(c)(3)(A) of the Internal
Revenue Code of 1986, as amended (the “Code”). In this regard, the Non-U.S. Lender further
represents and warrants that:
(a) the Non-U.S. Lender is not subject to regulatory or other legal requirements as
a bank in any jurisdiction; and
(b) the Non-U.S. Lender has not been treated as a bank for purposes of any tax,
securities law or other filing or submission made to any Governmental Authority, any
application made to a rating agency or qualification for any exemption from tax,
securities law or other legal requirements;
3. The Non-U.S. Lender is not a 10-percent shareholder of the Borrowers within the meaning of
Section 881(c)(3)(B) of the Code; and
4. The Non-U.S. Lender is not a controlled foreign corporation receiving interest from a
related person within the meaning of Section 881(c)(3)(C) of the Code.
[Remainder of Page Intentionally Left Blank; Signature Page Follows.]
IN WITNESS WHEREOF, the undersigned has executed this certificate as of the date set forth
below.
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[NAME OF NON-U.S. LENDER]
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By: |
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Name: |
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Title: |
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Date: _____________ |
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EXHIBIT I
FORM OF BORROWING NOTICE
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To:
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Fifth Third Bank
00 Xxxxxxxx Xxxxxx Xxxxx
Xxxxxxxxxx, Xxxx 00000
Attention: Xxxx Xxxx
Telecopy: 000-000-0000
Telephone: 000-000-0000 |
Reference is hereby made to the Second Amended and Restated Credit Agreement, dated as of
December 10, 2009 (as amended, restated, supplemented or otherwise modified from time to time, the
“Credit Agreement”), among MAPCO EXPRESS, INC., a Delaware corporation (“MAPCO Express”,
together with each other Person who becomes a borrower under the Credit Agreement referred to below
by execution of a joinder, the “Borrowers”), the Lenders party thereto (the “Lenders”),
Fifth Third Bank, as Joint Lead Arranger and Sole Bookrunner, Fifth Third Bank, as Administrative
Agent, and others. Terms defined in the Credit Agreement and not otherwise defined herein are used
herein with the meanings so defined.
The Borrowers hereby give notice to the Administrative Agent that Loans under the Facility,
and of the type and amount, set forth below are requested to be made on the date indicated below:
REVOLVING CREDIT LOANS
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Type of Loans |
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Interest Period |
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Aggregate Amount |
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Date of Loans |
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Base Rate Loans
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N/A
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Eurodollar Loans*
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The Borrowers hereby request that the proceeds of Loans described in this Borrowing Notice be
made available to it as follows:
[insert transmittal instructions].
The Borrowers hereby certify that all conditions contained in the Credit Agreement to the
making of any Loan requested have been met or satisfied in full.
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* |
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If more than one Interest Period is requested, the
Borrowers shall list duration of each requested Interest Period and the amount
of requested Loans allocated to each Interest Period. |
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MAPCO EXPRESS, INC.
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By: |
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Title: |
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DATE: ____________ |
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EXHIBIT J
Form of New Lender Supplement
SUPPLEMENT, dated ____________________________, to the SECOND AMENDED AND RESTATED CREDIT AGREEMENT,
dated as of December 10, 2009 (as amended, supplemented or otherwise modified from time to time,
the “Credit Agreement”), among MAPCO EXPRESS, INC., a Delaware corporation (“MAPCO
Express”, together with each other Person who becomes a borrower hereunder by execution of a
joinder in the form of Exhibit A attached hereto, the “Borrowers”), the several banks and
other financial institutions or entities from time to time parties to the Credit Agreement (the
“Lenders”), and FIFTH THIRD BANK, an Ohio banking corporation, as administrative agent (in
such capacity, the “Administrative Agent”).
WITNESSETH:
WHEREAS, the Borrowers have requested that the Total Revolving Credit Commitments be increased
by $[________] to $[________] pursuant to Section 2.26 to the Credit Agreement;
WHEREAS, Section 2.26(b) of the Credit Agreement provides that any bank, financial institution
or other entity, although not originally a party thereto, may become a party to the Credit
Agreement in accordance with the terms thereof by executing and delivering to the Borrowers and the
Administrative Agent a supplement to the Credit Agreement in substantially the form of this
Supplement; and
WHEREAS, the undersigned was not an original party to the Credit Agreement but now desires to
become a party thereto.
NOW, THEREFORE, the undersigned hereby agrees as follows:
1. The undersigned agrees to be bound by the provisions of the Credit Agreement, and agrees
that it shall, on the date this Supplement is accepted by the Borrowers and the Administrative
Agent, become a Revolving Credit Lender for all purposes of the Credit Agreement to the same extent
as if originally a party thereto, with a Revolving Credit Commitment of $_______________.
2. The undersigned (a) represents and warrants that it is legally authorized to enter into
this Supplement; (b) confirms that it has received a copy of the Credit Agreement, together with
copies of the financial statements delivered pursuant to Section 6.1 thereof and such other
documents and information as it has deemed appropriate to make its own credit analysis and decision
to enter into this Supplement; (c) agrees that it has made and will, independently and without
reliance upon the Administrative Agent or any other Lender and based on such documents and
information as it shall deem appropriate at the time, continue to make its own credit decisions in
taking or not taking action under the Credit Agreement or any instrument or document furnished
pursuant hereto or thereto; (d) appoints and authorizes the Administrative
Agent to take such action as administrative agent on its behalf and to exercise such powers
and discretion under the Credit Agreement or any instrument or document furnished pursuant hereto
or thereto as are delegated to the Administrative Agent by the terms thereof, together with such
powers as are incidental thereto; and (e) agrees that it will be bound by the provisions of the
Credit Agreement and will perform in accordance with its terms all the obligations which by the
terms of the Credit Agreement are required to be performed by it as a Lender including, without
limitation, if it is organized under the laws of a jurisdiction outside the United States, its
obligation pursuant to Section 2.18 of the Credit Agreement.
3. The undersigned’s address for notices for the purposes of the Credit Agreement is as
follows:
____________________________
____________________________
4. Terms defined in the Credit Agreement shall have their defined meanings when used herein.
[Remainder of Page Intentionally Left Blank; Signature Pages Follow]
IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed and delivered by
a duly authorized officer on the date first above written.
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[INSERT NAME OF LENDER]
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By: |
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Name: |
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Title: |
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Accepted this __ day of
__________, 20__. |
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MAPCO EXPRESS, INC. |
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By: |
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Name: |
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Title:
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Accepted this __ day of
__________, 20__. |
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FIFTH THIRD BANK, an Ohio banking
corporation, as Administrative Agent |
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By: |
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Name: |
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Title:
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EXHIBIT K
Form of Revolving Credit Commitment Increase Supplement
SUPPLEMENT, dated ___________________, to the SECOND AMENDED AND RESTATED CREDIT AGREEMENT,
dated as of December 10, 2009 (as amended, supplemented or otherwise modified from time to time,
the “Credit Agreement”), among MAPCO EXPRESS, INC., a Delaware corporation (“MAPCO
Express”, together with each other Person who becomes a borrower hereunder by execution of a
joinder in the form of Exhibit A attached hereto, the “Borrowers”), the several banks and
other financial institutions or entities from time to time parties to the Credit Agreement (the
“Lenders”), FIFTH THIRD BANK, an Ohio banking corporation, as administrative agent (in such
capacity, the “Administrative Agent”).
WITNESSETH:
WHEREAS, the Borrowers have requested that the Total Revolving Credit Commitments be increased
by $[________] to $[________] pursuant to Section 2.26 to the Credit Agreement;
WHEREAS, Section 2.26(b) of the Credit Agreement provides that the undersigned may increase
the amount of its Revolving Credit Commitment in accordance with the terms thereof by executing and
delivering to the Borrowers and the Administrative Agent a supplement to the Credit Agreement in
substantially the form of this Supplement; and
WHEREAS, the undersigned now desires to increase the amount of its Revolving Credit Commitment
under the Credit Agreement.
NOW, THEREFORE, the undersigned hereby agrees as follows:
1. Subject to the terms and conditions of the Credit Agreement, that on the date this
Supplement is accepted by the Borrowers and the Administrative Agent it shall have its Revolving
Credit Commitment increased by $______________, thereby making the amount of its Revolving Credit
Commitment $________________.
2. Terms defined in the Credit Agreement shall have their defined meanings when used herein.
IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed and delivered by
a duly authorized officer on the date first above written.
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[INSERT NAME OF LENDER]
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By: |
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Name: |
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Title: |
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Accepted this __ day of
__________, 20__. |
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MAPCO EXPRESS, INC. |
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By: |
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Name: |
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Title:
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Accepted this __ day of
__________, 20__. |
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FIFTH THIRD BANK, an Ohio banking
corporation, as Administrative Agent |
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By: |
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Name: |
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Title:
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CLOSING AGENDA
in connection with the
FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT
(the “Credit Agreement”)
dated as of December 23, 2010
among
MAPCO EXPRESS, INC.,
together with each other Person who becomes a borrower
thereunder by execution of a joinder, as Borrowers,
the several Lenders
from time to time parties thereto,
and
FIFTH THIRD BANK, an Ohio banking corporation,
as Administrative Agent
* * *
Capitalized terms used in this Closing Agenda shall have the
meanings ascribed thereto in the Credit Agreement.
Items in bold indicate those to be prepared or obtained
by Borrowers or Borrowers’ counsel
PARTIES
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|
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“Administrative Agent”
|
|
Fifth Third, in its capacity as administrative agent for the Lenders |
“MAPCO Express”
|
|
MAPCO Express, Inc., a Delaware corporation |
“Borrowers”
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|
MAPCO Express, together with each other Person who becomes a borrower to the Third Amended and
Restated Credit Agreement by execution of a joinder thereto |
“Fifth Third”
|
|
Fifth Third Bank, an Ohio banking corporation |
“GAS”
|
|
Gasoline Associated Services, Inc., an Alabama corporation |
“Holdings”
|
|
Delek US Holdings, Inc., a Delaware corporation |
“Lenders”
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Fifth Third and each other financial institution party to the Credit Agreement from time to time |
“Liberty”
|
|
Liberty Wholesale Co., Inc., an Alabama corporation |
“Subsidiary Guarantors”
|
|
GAS and Liberty |
I. |
|
PRINCIPAL LOAN DOCUMENTS |
|
1. |
|
First Amendment to Second Amended and Restated Credit Agreement by and among
Borrowers, Administrative Agent and Lenders |
|
|
|
Exhibit 1
|
|
Second Amended and Restated Credit Agreement |
Annex I
|
|
Existing Letters of Credit |
Annex II
|
|
Group One Properties |
Exhibit A
|
|
Form of Joinder to Third Amended and Restated Credit Agreement |
Exhibit B
|
|
Form of Compliance Certificate |
Exhibit C
|
|
Form of Closing Certificate |
Exhibit D
|
|
Form of Mortgage |
Exhibit E
|
|
Form of Assignment and Acceptance |
Exhibit F
|
|
Form of Legal Opinion of Xxxx Xxxxx |
Exhibit G-1
|
|
Form of Revolving Credit Note |
Exhibit G-2
|
|
Form of Swing Line Note |
Exhibit H
|
|
Form of Exemption Certificate |
Exhibit I
|
|
Form of Borrowing Notice |
Exhibit J
|
|
Form of New Lender Supplement |
Exhibit K
|
|
Form of Commitment Increase Supplement |
Schedule 1.1A-1
|
|
Exempt Properties |
Schedule 1.1C
|
|
Commitments |
2
|
|
|
Schedule 2.4
|
|
Revolving Credit Commitments under the Existing Credit Agreement |
Schedule 4.1(b)
|
|
Guarantee Obligations |
Schedule 4.4
|
|
Consents |
Schedule 4.8(a)
|
|
Real Property of the Loan Parties |
Schedule 4.8(b)
|
|
Ownership of Properties |
Schedule 4.15
|
|
Subsidiaries |
Schedule 7.2
|
|
Existing Capital Lease Obligations and Purchase Money Indebtedness |
Schedule 7.13(f)
|
|
Permitted Liens |
Schedule 10.15
|
|
Specified Leased Properties |
|
2. |
|
Second Amended and Substitute Revolving Notes in the aggregate principal amount
of up to $200,000,000 executed by Borrower and payable to the order of the following
financial institutions: |
|
|
|
|
|
Fifth-Third |
|
$ |
47,500,000 |
|
Bank of Montreal Bank |
|
$ |
28,500,000 |
|
Regions Bank |
|
$ |
28,500,000 |
|
Bank Hapolim |
|
$ |
28,500,000 |
|
US Bank |
|
$ |
19,000,000 |
|
Bank Leumi USA |
|
$ |
14,250,000 |
|
XX Xxxxxx Chase |
|
$ |
14,250,000 |
|
Israel Discount Bank of NY |
|
$ |
10,000,000 |
|
First Tennessee Bank National Association |
|
$ |
9,500,000 |
|
|
3. |
|
Second Amended and Substitute Swing Line Note in the aggregate principal amount
of up to $10,000,000 executed by Borrower and payable to the order of Fifth Third. |
|
4. |
|
Amended and Restated Guaranty and Collateral Agreement executed by Borrower,
each Subsidiary Guarantor, Holdings, and the Administrative Agent, for the benefit of
the Administrative Agent and the Lenders |
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|
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|
Annex 1
|
|
-
|
|
Form of Assumption Agreement |
Annex II
|
|
-
|
|
Form of Acknowledgment and Consent |
|
Schedule 1
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|
-
|
|
Notice Addresses of Subsidiary Guarantors |
Schedule 2
|
|
-
|
|
Description of Pledged Securities |
Schedule 3
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|
-
|
|
Filings and Other Actions Required to Perfect Security
Interest |
Schedule 4
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-
|
|
Jurisdiction of Organization, Identification Number
and Location of Chief Executive Office |
Schedule 5
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|
-
|
|
Locations of Inventory and Equipment |
Schedule 6
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|
-
|
|
Intellectual Property |
Schedule 7
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|
-
|
|
Concentration Accounts |
3
|
5. |
|
Master Reaffirmation Agreement by Borrower, Holdings and Subsidiary Guarantors |
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|
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|
|
Exhibit A
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|
-
|
|
Existing Collateral Documents and copies thereof |
|
6. |
|
Assignment of Trademarks from Mapco in favor of Administrative Agent (TM
0918275) |
|
|
7. |
|
Assignment of Assignment of Trademarks from Bank Leumi to Xxxxxx Commercial
Paper Inc. to Administrative Agent (TM 0918275) |
|
|
8. |
|
Assignment of Assignment of Trademarks from Xxxxxx Commercial Paper Inc. to
Administrative Agent (TM 3303610) |
III. |
|
REAL ESTATE DOCUMENTS |
|
9. |
|
Amendments to Mortgages/Deeds of Trust, Assignment of Leases and Rents,
Security Agreement and Fixture Filing by MAPCO Express in favor of the Trustee (as
defined therein), for the benefit of Administrative Agent, covering the Deeds of Trust
set forth on Exhibit A attached hereto |
|
10. |
|
Landlord Waiver and Consent to Leasehold Mortgage for each of the leased
locations set forth on Exhibit B attached hereto and marked with an asterisk |
IV. |
|
COLLATERAL DUE DILIGENCE |
|
11. |
|
Perfection Certificate |
|
12. |
|
Pre-Closing Lien Search Reports detailing the searches in those jurisdictions
listed on Exhibit C attached hereto and a summary thereof |
|
13. |
|
UCC Financing Statements set forth of Exhibit D attached hereto |
|
|
14. |
|
Post-Closing Lien Search Reports |
|
|
15. |
|
Intellectual Property Searches |
|
|
16. |
|
Appraisals of all fee-owned real property |
|
17. |
|
Revolving Commitment Increase Notice |
|
18. |
|
Revolving Credit Commitment Increase Supplement |
4
|
19. |
|
Initial Notice of Borrowing |
|
|
20. |
|
Funds Flow Memorandum |
|
|
21. |
|
Fee Letter among the Borrower and Fifth Third |
|
|
22. |
|
Financial Statements, including pro forma balance sheet and projections |
|
|
23. |
|
Insurance Policies/Certificates naming the Administrative Agent as additional
insured/loss payee |
VI. |
|
ORGANIZATIONAL DOCUMENTS |
|
(a) |
|
Closing Certificate (with incumbency) |
|
|
|
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|
Annex 1
|
|
-
|
|
Resolutions |
Annex 2
|
|
-
|
|
Bylaws, as amended through the First Amendment Effective Date |
Annex 3
|
|
-
|
|
Certificate of Incorporation certified by the Secretary of State of DE |
|
(b) |
|
Good Standing Certificate from Delaware |
|
|
|
|
|
Annex 1
|
|
-
|
|
Resolutions |
Annex 2
|
|
-
|
|
Bylaws, as amended through the First Amendment Effective Date |
Annex 3
|
|
-
|
|
Certificate of Incorporation certified by the Secretary of State of AL |
|
(b) |
|
Good Standing Certificate from Alabama |
|
|
|
|
|
Annex 1
|
|
-
|
|
Resolutions |
Annex 2
|
|
-
|
|
Bylaws, as amended through the First Amendment Effective Date |
Annex 3
|
|
-
|
|
Certificate of Incorporation certified by the Secretary of State of AL |
|
(b) |
|
Good Standing Certificate from Alabama |
5
|
|
|
|
|
Annex 1
|
|
-
|
|
Resolutions |
Annex 2
|
|
-
|
|
Bylaws, as amended through the First Amendment Effective Date |
Annex 3
|
|
-
|
|
Certificate of Incorporation certified by the Secretary of State of DE |
|
(b) |
|
Good Standing Certificate from Delaware |
VII. |
|
DEBT REPAYMENT DOCUMENTS |
|
28. |
|
Lien Releases listed on Exhibit E attached hereto |
|
|
29. |
|
Release of Assignment of Copyrights from Xxxxxx Commercial Paper Inc. in favor
of MAPCO Express |
|
30. |
|
Opinion of Credit Parties’ Counsel re: Accordion Facility (Xxxx Xxxxx) |
|
|
31. |
|
Opinion of Credit Parties’ Alabama Local Counsel re Credit Facility |
|
|
32. |
|
Opinion of Credit Parties’ Counsel re: Credit Facility (Xxxx Xxxxx) |
6
|
33. |
|
Post-Closing Letter |
|
|
34. |
|
Lockbox and/or Deposit Account Control Agreements executed by MAPCO Express,
the Administrative Agent and the following financial institutions: |
|
(a) |
|
Bank of America |
|
|
(b) |
|
BB&T |
|
|
(c) |
|
Compass Bank |
|
|
(d) |
|
Fifth-Third |
|
|
(e) |
|
Regions Bank |
|
|
(f) |
|
SunTrust Bank |
|
|
(g) |
|
Xxxxx Fargo Bank |
|
35. |
|
Lockbox and/or Deposit Account Control Agreements executed by GAS, the
Administrative Agent and the following financial institutions: |
|
36. |
|
Date Down Endorsements to ALTA Loan Policies incorporating Amendments to Deeds
of Trust set forth on Exhibit A attached hereto. |
|
37. |
|
Landlord Waiver and Consent to Leasehold Mortgage executed by the landlords for
the leased locations set forth on Exhibit B attached hereto and not marked with
an asterisk |
7
|
38. |
|
For each property listed on Exhibit F |
|
(a) |
|
Mortgage, Assignment of Leases and Rents, Security Agreement and
Fixture Filing executed by Borrower |
|
|
(b) |
|
ALTA Survey with Flood Zone Certification certified to
Administrative Agent |
|
|
(c) |
|
Title Policy |
|
|
(d) |
|
Opinion of local counsel with respect to the Mortgage granted
thereon |
|
39. |
|
Assignment for Security (Trademarks) recorded on August 8, 2002 at Reel 2568,
Frame 0599 |
|
40. |
|
Assignment for Security (Trademarks) recorded on August 10, 2005 at Reel 3138,
Frame 0683 |
|
41. |
|
Release of the Assignment for Security (Copyrights) recorded with the United
States Copyright Office on May 31, 2005 at Volume 003525, Page 592 |
|
42. |
|
Landlord Waiver and Collateral Access Agreement for each of the following
leased real properties: |
|
(a) |
|
0000 Xxxxxxxx Xxx., Xxxxxxx, XX |
|
|
(b) |
|
0000 Xxxxxxxx Xxx, Xxxxxxxxx, XX |
|
|
(c) |
|
One Colonial Place, 00000 Xxxxxxxxx Xx, Xxxxx 000, Xxxx Xxxxx, XX |
8
EXHIBIT A
Deeds of Trust
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Title |
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|
Deed of Trust and Recording Info |
|
State |
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County |
|
|
Properties Included (CWT No.) |
|
|
Title Policy No. |
|
|
Company |
|
Misc. |
1.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 4298, Page 614 on May 11,
2005 in Xxxxxxx County,
Alabama.
|
|
XX
|
|
Xxxxxxx County
|
|
|
5101
5102
5103 (L)
5105 (L)
5107
5108
5112 (L)
5113
5114 (L)
5116 (L)
5117
5118
5119
5120
5123
5124
5125 (L)
f/k/a 5510
5540 |
|
|
|
M9994-8005764
M9994-8005765
M9994-8005769
M9994-8005753
M9994-8005754
M9994-8005766
M9994-8005771
M9994-8005761
M9994-8005755
M9994-8005756
M9994-8005751
M9994-8005772
M9994-8005768
M9994-8005767
M9994-8005757
M9994-8005752
M9994-8005770
M9994-8005758
M9994-8005773 |
|
|
Xxxxxxx |
|
|
2.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded as
Instrument #138445 on January
19, 2006 in Cherokee County,
Alabama.
|
|
AL
|
|
Cherokee County
|
|
|
5142 (L) |
|
|
|
M-9994-8682145 |
|
|
Xxxxxxx |
|
|
3.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book RLEST 275, Page 145 on May
11, 2005 in Clay County,
Alabama.
|
|
XX
|
|
Xxxx County
|
|
|
5181
5182 |
|
|
|
M9994-8005776
M9994-8005775 |
|
|
Xxxxxxx |
|
|
4.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Fiche 2005-15, Frame 821 on May
9, 2005 in Colbert County,
Alabama.
|
|
XX
|
|
Xxxxxxx County
|
|
|
5225 (L) |
|
|
|
M-9994-8005777 |
|
|
Xxxxxxx |
|
|
1
|
|
|
|
|
|
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|
|
|
|
|
|
|
Title |
|
|
|
|
Deed of Trust and Recording Info |
|
State |
|
County |
|
|
Properties Included (CWT No.) |
|
|
Title Policy No. |
|
|
Company |
|
Misc. |
5.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 378, Page 303 on May 11,
2005 in Coosa County, Alabama.
|
|
AL
|
|
Coosa County
|
|
|
5189 (L) |
|
|
|
M9994-8005779 |
|
|
Xxxxxxx |
|
|
6. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded as
Document No. 2005-R 201676 in
Mortgage Book 1293, Page 245 on
May 10, 2005 in DeKalb County,
Alabama.
|
|
AL
|
|
DeKalb County
|
|
|
1106
5001
5145 (L)
5515 (L)
5149 (L)
5151
5152 (1)
5153 (L)
5155 (L)
5157
5158
5159
5160
5165
5166 (L)
5167 (L)
5168
5172 (L) |
|
|
|
M9994-8005797
M9994-8005796
M9994-8005787
M9709-000017171
M9994-8005788
M9994-8005781
M9994-8005802
M9994-8005789
M9994-8005800
M9994-8005790
M9994-8005791
M9994-8005784
M9994-8005801
M9994-8005792
M9994-8005793
M9994-8005794
M9994-8005782
M9994-8005803 |
|
|
Xxxxxxx |
|
|
8.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded as
Document #M-2005-1900 on May
10, 2005 in Etowah County,
Alabama.
|
|
AL
|
|
Etowah County
|
|
|
5143 (L)
5146 |
|
|
|
M9994-8005805
M9994-8005806 |
|
|
Xxxxxxx |
|
|
9.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 2005, Page 11583 on May
10, 2005 in Xxxxxxx County,
Alabama.
|
|
XX
|
|
Xxxxxxx County
|
|
|
5150
5163
5169
5539 |
|
|
|
M9994-8005809
M9994-8005808
M9994-8005799
M9994-8005807 |
|
|
Xxxxxxx |
|
|
10.
|
|
Mortgage, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded in
Book 2005, Page 22485 on May 9,
2005 in Lauderdale County,
Alabama.
|
|
AL
|
|
Lauderdale County
|
|
|
7301 |
|
|
|
M-9994-8005817 |
|
|
Xxxxxxx |
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Title |
|
|
|
|
Deed of Trust and Recording Info |
|
State |
|
County |
|
|
Properties Included (CWT No.) |
|
|
Title Policy No. |
|
|
Company |
|
Misc. |
11.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 2005, Page 22519 on May 9,
2005 in Lauderdale County,
Alabama.
|
|
AL
|
|
Lauderdale County
|
|
|
5213
5215
5216
5217
5221
5222
5224 |
|
|
|
M-9994-8005818
M-9994-8005811
M-9994-8005812
M-9994-8005813
M-9994-8005814
M-9994-8005815
M-9994-8005816 |
|
|
Xxxxxxx |
|
|
12.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 3209, Page 538 on May 12,
2005 in Xxx County, Alabama.
|
|
XX
|
|
Xxx County
|
|
|
5183 (L)
5196 (L) |
|
|
|
M9994-8005819
M9994-8005820 |
|
|
Xxxxxxx |
|
|
13.
|
|
Mortgage, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded in
Book 2005, Page 25378 on May
10, 2005 in Limestone County,
Alabama.
|
|
AL
|
|
Limestone County
|
|
|
1107 (L) |
|
|
|
M9994-8005821 |
|
|
Xxxxxxx |
|
|
14.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 2005, Page 25513 on May
10, 2005 in Limestone County,
Alabama.
|
|
AL
|
|
Limestone County
|
|
|
5205 (L)
5212 |
|
|
|
M9994-8005822
M9994-8005823 |
|
|
Xxxxxxx |
|
|
15.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded as
Instrument #20050510000299810
on May 10, 2005 in Madison
County, Alabama.
|
|
AL
|
|
Madison County
|
|
|
5203
5204 (L)
5206
5207
5208
5210
5211
5214
5218
5220 |
|
|
|
M9994-8005833
M9994-8005834
M9994-8005828
M9994-8005829
M9994-8005830
M9994-8005824
M9994-8005825
M9994-8005831
M9994-8005826
M9994-8005827 |
|
|
Xxxxxxx |
|
|
16.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 3125, Page 292 on May 10,
2005 in Xxxxxxxx County,
Alabama.
|
|
XX
|
|
Xxxxxxxx County
|
|
|
5148 |
|
|
|
M-9994-8005835 |
|
|
Xxxxxxx |
|
|
3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Title |
|
|
|
|
Deed of Trust and Recording Info |
|
State |
|
County |
|
|
Properties Included (CWT No.) |
|
|
Title Policy No. |
|
|
Company |
|
Misc. |
17.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded as
Instrument #20050511000227000
on May 11, 2005 in Shelby
County, Alabama.
|
|
XX
|
|
Xxxxxx County
|
|
|
5175 |
|
|
|
M9994-8005838 |
|
|
Xxxxxxx |
|
|
18.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Mortgage Book 2005, Page 24987
on May 10, 2005 in St. Clair
County, Alabama.
|
|
AL
|
|
St. Clair County
|
|
|
5190
5191
5192 (L) |
|
|
|
M9994-8005840
M9994-8005839
M9994-8005837 |
|
|
Xxxxxxx |
|
|
19.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 1133, Page 346 on May 11,
2005 in Talladega County,
Alabama.
|
|
AL
|
|
Xxxxxxxxx Xxxxxx
|
|
|
0000
0000 (X)
5533
5538
5121 (L)
5176
5179
5188
5195 |
|
|
|
M-9994-8005847
M-9994-8005762
M-9994-8005743
M-9994-8005745
M-9994-8005848
M-9994-8005849
M-9994-8005850
M-9994-8005746
M-9994-8005846 |
|
|
Xxxxxxx |
|
|
20.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded as
Card No. 203896 on May 11, 2005
in Tallapoosa County, Alabama.
|
|
AL
|
|
Tallapoosa County
|
|
|
5174
5184
5185
5537 |
|
|
|
M9994-8005845
M9994-8005842
M9994-8005843
M9994-8005844 |
|
|
Xxxxxxx |
|
|
21.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 2005, Page 38280 on May 5,
2005 in Tuscaloosa County,
Alabama.
|
|
AL
|
|
Tuscaloosa County
|
|
|
5130 (L)
5131 (L)
5132 (L) |
|
|
|
M-9994-8005749
M-9994-8005747
M-9994-8005748 |
|
|
Xxxxxxx |
|
|
22.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 1194, Page 606 on May 20,
2005 in Xxxxxxxxxx County,
Arkansas.
|
|
AR
|
|
Xxxxxxxxxx County
|
|
|
3058 (L) |
|
|
|
M-9996-02005 |
|
|
Xxxxxxx |
|
|
23.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 1194, Page 567 on May 20,
2005 in Xxxxxxxxxx County,
Arkansas.
|
|
AR
|
|
Xxxxxxxxxx County
|
|
|
3005 |
|
|
|
M-9702-767756 |
|
|
Xxxxxxx |
|
|
4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Title |
|
|
|
|
Deed of Trust and Recording Info |
|
State |
|
County |
|
|
Properties Included (CWT No.) |
|
|
Title Policy No. |
|
|
Company |
|
Misc. |
24.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded as
Instrument Number 2005-10518 on
May 20, 2005 in Xxxxxxxx
County, Arkansas.
|
|
AR
|
|
Xxxxxxxx County
|
|
|
3059 (L) |
|
|
|
M-9996-020002 |
|
|
Xxxxxxx |
|
|
25.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 370, Page 216 on May 20,
2005 in Xxxxxxx County,
Arkansas.
|
|
AR
|
|
Xxxxxxx County
|
|
|
7326 (L) |
|
|
|
M-9996-020003 |
|
|
Xxxxxxx |
|
|
26.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 2005, Page 968 on May 19,
2005 in Monroe County,
Arkansas.
|
|
AR
|
|
Monroe County
|
|
|
3178 |
|
|
|
M-9702-767757 |
|
|
Xxxxxxx |
|
|
27.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 838, Page 110 on May 19,
2005 in Xxxxxxxx County,
Arkansas.
|
|
AR
|
|
Xxxxxxxx County
|
|
|
7318 |
|
|
|
M-9702-767758 |
|
|
Xxxxxxx |
|
|
28.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded as
Instrument Number 05-1881 on
May 19, 2005 in Poinsett
County, Arkansas.
|
|
AR
|
|
Poinsett County
|
|
|
7317
7334 |
|
|
|
M-9702-767732 |
|
|
Xxxxxxx |
|
|
29.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded as
Instrument Number 2005043306 on
May 20, 2005 in Pulaski County,
Arkansas.
|
|
AR
|
|
Pulaski County
|
|
|
2004 (L)
7324
3181 |
|
|
|
M-9996-020001
M-9702-767759 |
|
|
Xxxxxxx |
|
|
30.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 740, Page 164 on May 20,
2005 in St. Xxxxxxx County,
Arkansas.
|
|
AR
|
|
St. Xxxxxxx County
|
|
|
3154
3155 [2] |
|
|
|
M-9994-02004 |
|
|
Xxxxxxx |
|
|
31.
|
|
Deed to Secure Debt, Security
Agreement, and Assignment of
Leases and Rents dated as of
April 2, 2007, recorded in Book
2204, Page 151 on June 18, 2007
in Bartow County, Georgia.
|
|
GA
|
|
Bartow County
|
|
|
3600 (CWT 146) (L)
|
|
FA-31-0994904
|
|
First Am |
|
|
5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Title |
|
|
|
|
Deed of Trust and Recording Info |
|
State |
|
County |
|
|
Properties Included (CWT No.) |
|
|
Title Policy No. |
|
|
Company |
|
Misc. |
32.
|
|
Deed to Secure Debt, Security
Agreement, and Assignment of
Leases and Rents dated as of
July 13, 2006, recorded in Book
2085, Page 22 on July 19, 2006
in Bartow County, Georgia.
|
|
GA
|
|
Bartow County
|
|
|
3504 (CWT 167) (L)
3529 (CWT 199)
|
|
|
FA-31-550326
FA-31-550327
|
|
First Am |
|
|
33.
|
|
Deed to Secure Debt, Security
Agreement, and Assignment of
Leases and Rents dated as of
April 2, 2007, recorded in Book
1378, Page 693 on June 29, 2007
in Catoosa County, Georgia.
|
|
GA
|
|
Catoosa County
|
|
|
3634 (CWT 29) (L)
3637 (CWT 79)
3638 (CWT 106)
3643 (CWT 71) (L)
3639 (CWT 153) (L)
|
|
|
FA-31-0994920
FA-31-0994915
FA-31-0994914
FA-31-0994919
FA-31-0994912
|
|
First Am |
|
|
34.
|
|
Deed to Secure Debt, Security
Agreement, and Assignment of
Leases and Rents dated as of
July 13, 2006, recorded in Book
1296, Page 0851 on July 19,
2006 in Catoosa County,
Georgia.
|
|
GA
|
|
Catoosa County
|
|
|
3502 (CWT 165)
3521 (CWT 187)
3526 (CWT 193)
3506 (CWT 169 (L)
|
|
|
FA-31-550347
FA-31-550349
FA-31-550350
FA-31-550348
|
|
First Am |
|
|
35.
|
|
Deed to Secure Debt, Security
Agreement, and Assignment of
Leases and Rents dated as of
July 13, 2006, recorded in Book
8928, Page 43 on July 21, 2006
in Cherokee County, Georgia.
|
|
GA
|
|
Cherokee County
|
|
|
3509 (CWT 172)
|
|
|
FA-31-550328
|
|
First Am |
|
|
36.
|
|
Deed to Secure Debt, Security
Agreement, and Assignment of
Leases and Rents dated as of
July 13, 2006, recorded in Book
00363, Page 0016 on July 19,
2006 in Dade County, Georgia.
|
|
GA
|
|
Dade County
|
|
|
3503 (CWT 166)
3523 (CWT 189)
3524 (CWT 190)
3525 (CWT 191) (L)
|
|
|
FA-31-550343
FA-31-550344
FA-31-550345
FA-31-550346
|
|
First Am |
|
|
37.
|
|
Deed to Secure Debt, Security
Agreement, and Assignment of
Leases and Rents dated as of
April 2, 2007, recorded in Book
2088, Page 393 on June 18, 2007
in Xxxxx County, Georgia.
|
|
GA
|
|
Xxxxx County
|
|
|
3601 (CWT 207 or 207A) (L)
3602 (CWT 3) (L)
3603 (CWT 147) (L)
3605 (CWT 154) (L)
3606 (CWT 201 or 201A)
3607 (CWT 202)
|
|
|
FA-31-0994911
FA-31-0994906
FA-31-0994907
FA-31-0994908
FA-31-0994909
FA-31-0994910
|
|
First Am |
|
|
38.
|
|
Deed to Secure Debt, Security
Agreement, and Assignment of
Leases and Rents dated as of
April 2, 2007, recorded in Book
1446, Page 1 on June 18, 2007
in Xxxxxx County, Georgia.
|
|
GA
|
|
Xxxxxx County
|
|
|
3633 (CWT 240) (L)
|
|
|
FA-31-0994905
|
|
First Am |
|
|
39.
|
|
Deed to Secure Debt, Security
Agreement, and Assignment of
Leases and Rents dated as of
July 13, 2006, recorded in Book
1334, Page 62 on July 19, 2007
in Xxxxxx County, Georgia.
|
|
GA
|
|
Xxxxxx County
|
|
|
3505 (CWT 168) (L)
3520 (CWT 186)
|
|
|
FA-31-550351
FA-31-550353
|
|
First Am |
|
|
40.
|
|
Deed to Secure Debt, Security
Agreement, and Assignment of
Leases and Rents dated as of
April 2, 2007, recorded in Book
644, Page 704 on June 29, 2007
in Xxxxxx County, Georgia.
|
|
GA
|
|
Xxxxxx County
|
|
|
3609 (CWT 17)
3610 (CWT 230)
3611 (CWT 101)
3628 (CWT 99)
|
|
|
FA-31-0994921
FA-31-0994924
FA-31-0994923
FA-31-0994922
|
|
First Am |
|
|
6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Title |
|
|
|
|
Deed of Trust and Recording Info |
|
State |
|
County |
|
|
Properties Included (CWT No.) |
|
|
Title Policy No. |
|
|
Company |
|
Misc. |
41.
|
|
Deed to Secure Debt, Security
Agreement, and Assignment of Leases and Rents dated as of
July 13, 2006, recorded in Book
605, Page 719 on July 20, 2006
in Xxxxxx County, Georgia.
|
|
GA
|
|
Xxxxxx County
|
|
|
3514 (CWT 178)
3516 (CWT 181)
|
|
|
FA-31-550337
FA-31-550338
|
|
First Am |
|
|
42.
|
|
Deed to Secure Debt, Security
Agreement, and Assignment of
Leases and Rents dated as of
July 13, 2006, recorded in Book
1168, Page 0161 on July 19,
2006 in Polk County, Georgia.
|
|
GA
|
|
Polk County
|
|
|
3527 (CWT 194) (L)
3528 (CWT 195) (L)
|
|
|
FA-31-550341
FA-31-550342
|
|
First Am |
|
|
43.
|
|
Deed to Secure Debt, Security
Agreement, and Assignment of
Leases and Rents dated as of
April 2, 2007, recorded in Book
1501, Page 447 on July 2, 2007
in Xxxxxx County, Georgia.
|
|
GA
|
|
Xxxxxx County
|
|
|
3629 (CWT 156)
3630 (CWT 687)
3640 (CWT 149)
3663 (CWT 305) (L)
|
|
|
FA-31-0994926
FA-31-0994928
FA-31-0994925
FA-31-0994927
|
|
First Am |
|
|
44.
|
|
Amended and Restated Deed to
Secure Debt, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of April 28, 2005,
recorded on July 20, 2005 in
Book 1343, Page 656 in Xxxxxx
County, Georgia.
|
|
GA
|
|
Xxxxxx County
|
|
|
3544 (CWT 5622)
|
|
|
M-9994-4379677 |
|
|
Xxxxxxx |
|
|
45.
|
|
Deed to Secure Debt, Security
Agreement, and Assignment of
Leases and Rents dated as of
July 13, 2006, recorded in Book
1429, Page 103 on August 2,
2006 in Xxxxxx County, Georgia.
|
|
GA
|
|
Xxxxxx County
|
|
|
3508 (CWT 171)
3522 (CWT 188) (L)
|
|
|
FA-31-550352
FA-31-550354
|
|
First Am |
|
|
46.
|
|
Deed to Secure Debt, Security
Agreement, and Assignment of
Leases and Rents dated as of
April 2, 2007, recorded in Book
5026, Page 83 on June 18, 2007
in Xxxxxxxxx County, Georgia.
|
|
GA
|
|
Xxxxxxxxx County
|
|
|
3612 (CWT 8)
3613 (CWT 20)
3614 (CWT 25)
3615 (CWT 83)
3616 (CWT 93)
3618 (CWT 2) (L)
3620 (CWT 11)
3621 (CWT 14)
3622 (CWT 22)
3623 (CWT 41)
3625 (CWT 108) (L)
3627 (CWT 220 or 220A)
3642 (CWT 92) (L)
3624 (CWT 68)
|
|
|
FA-31-0994890
FA-31-0994893
FA-31-0994896
FA-31-0994899
FA-31-0994901
FA-31-0994888
FA-31-0994891
FA-31-0994892
FA-31-0994895
FA-31-0994897
FA-31-0994902
FA-31-0994903
FA-31-0994900
FA-31-0994898
|
|
First Am |
|
|
7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Title |
|
|
|
|
Deed of Trust and Recording Info |
|
State |
|
County |
|
|
Properties Included (CWT No.) |
|
|
Title Policy No. |
|
|
Company |
|
Misc. |
47.
|
|
Deed to Secure Debt, Security
Agreement, and Assignment of
Leases and Rents dated as of
July 13, 2006, recorded in Book
4804, Page 136 on July 19, 2006
in Xxxxxxxxx County, Georgia.
|
|
GA
|
|
Xxxxxxxxx County
|
|
|
3507 (CWT 170)
3510 (CWT 174)
3511 (CWT 175) (L)
3512 (CWT 176)
3513 (CWT 177)
3515 (CWT 180) (L)
3519 (CWT 185)
|
|
|
FA-31-550329
FA-31-550330
FA-31-550331
FA-31-550332
FA-31-550336
FA-31-550333
FA-31-550335
|
|
First Am |
|
|
48.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 264, Page 591 on June 20,
2005 in Xxxxx County, Kentucky.
|
|
XX
|
|
Xxxxx County
|
|
|
1070 (L) |
|
|
|
M-9994-7436369 |
|
|
Xxxxxxx |
|
|
49.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 242, Page 70 on June 8,
2005 in Xxxx County, Kentucky.
|
|
XX
|
|
Xxxx County
|
|
|
1060 |
|
|
|
M-9994-7436371 |
|
|
Xxxxxxx |
|
|
50.
|
|
Amended and Restated Mortgage,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 258, Page 297 on June 7,
2005 in Xxxxxxx County,
Kentucky.
|
|
XX
|
|
Xxxxxxx
|
|
|
1044 (L) |
|
|
|
M-9994-7436370 |
|
|
Xxxxxxx |
|
|
51.
|
|
Mortgage, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded as
File Number 2005-00028930 on
June 24, 2005 in Xxxxxxxxx
Xxxxxx, Xxxxxxxxx.
|
|
XX
|
|
Xxxxxxxxx Xxxxxx
|
|
|
0000 (X) |
|
|
|
M-9994-7386928 |
|
|
Xxxxxxx |
|
|
52.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3137
Closed on 11/8/2010
(Lease exp
12/31/2010)** |
53.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents
and Fixture Filing dated as of
April 28, 2005, recorded as
Instrument Number 200503979,
Page 1-32 on May 10, 2005 in
Xxxxxx County, Mississippi.
|
|
XX
|
|
Xxxxxx County
|
|
|
3009 |
|
|
|
M9994-3609155 |
|
|
Xxxxxxx |
|
|
8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Title |
|
|
|
|
Deed of Trust and Recording Info |
|
State |
|
County |
|
|
Properties Included (CWT No.) |
|
|
Title Policy No. |
|
|
Company |
|
Misc. |
54.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents
and Fixture Filing dated as of
April 28, 2005, recorded in
Book 2,213, Page 672 on May 10,
2005 in DeSoto County,
Mississippi.
|
|
MS
|
|
Desoto County
|
|
|
3267 |
|
|
|
M9994-3609156 |
|
|
Xxxxxxx |
|
|
55.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded in
Book 1392, Page 1080 on May 13,
2005 in Xxxxxxxx County,
Tennessee.
|
|
TN
|
|
Xxxxxxxx County
|
|
|
1091 (L) |
|
|
|
M-9994-7159068 |
|
|
Xxxxxxx |
|
|
56.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of April 2, 2007,
recorded as Instrument #537119,
Book 2167, Page 1530-1560 on
August 7, 2007 in Xxxxxx
County, Tennessee Register of
Deeds.
|
|
TN
|
|
Xxxxxx County
|
|
|
3694 (CWT 407)
|
|
|
FA-31-248673CL
|
|
First Am |
|
|
57.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of July 13, 2006,
recorded as Instrument
#06013933, in BK/PG
1662/552-582 on July 25, 2006
with the Xxxxxxx County,
Tennessee Register of Deeds.
|
|
TN
|
|
Xxxxxxx County
|
|
|
3655 (CWT 74)
|
|
|
FA-31-248673X
|
|
First Am |
|
|
58.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded in
Book 146, Page 845 on May 10,
2005 in Xxxxxxxx County,
Tennessee.
|
|
TN
|
|
Xxxxxxxx County
|
|
|
1043 (L)
3208 |
|
|
|
M9994-71259061 |
|
|
Xxxxxxx |
|
|
59.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded in
Book 1193, Page 323 on May 9,
2005 in Xxxxx County,
Tennessee.
|
|
TN
|
|
Xxxxx County
|
|
|
1134 (L) |
|
|
|
M-9994-7159057 |
|
|
Xxxxxxx |
|
|
60.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded in
Book T646, Page 830 on May 12,
2005 with the Coffee County,
Tennessee Register of Deeds and
re-recorded in Book T668, Page
63 on November 22, 2005 with
the Coffee County, Tennessee
Register of Deeds.
|
|
TN
|
|
Coffee County
|
|
|
3671 (CWT 111)
3672 (CWT 112)
|
|
|
FA-31-248673AQ
FA-31-248673AR
|
|
First Am |
|
|
9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Title |
|
|
|
|
Deed of Trust and Recording Info |
|
State |
|
County |
|
|
Properties Included (CWT No.) |
|
Title Policy No. |
|
|
Company |
|
Misc. |
61.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of December 15, 2005,
recorded as Instrument
#20060111-0004563 on January
11, 2006 in Davidson County,
Tennessee.
|
|
TN
|
|
Davidson County
|
|
|
3400 (CWT 1758)
3401 (CWT 2097)
3402 (CWT 1759)
3403 (CWT 2073)
3404 (CWT 2071)
3405 (CWT 2814)
3411 (CWT 1749)
3413 (CWT 1750)
3414 (CWT 2091)
3415 (CWT 2860)
3416 (CWT 2472)
3418 (L) (CWT 3046)
3419 (CWT 2615) (L)
3420 (CWT 1762 (L)
3424 (CWT 1229) (L)
|
|
|
302944
302946
302945
302957
302956
302943
302951
302952
302958
302961
302959
302948
302960
302955
302950 |
|
|
Chicago |
|
|
62.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded as
Instrument #20050506-0051103 on
May 6, 2005 in Davidson County,
Tennessee.
|
|
TN
|
|
Davidson County
|
|
|
1001 (L)
1012 (L)
1018
1030 (L)
1033
1040
1149 (L)
3065
3066 (L)
3156
3325 (L)
3327 (L)
3328 (L)
3331
3332
3194 (L)
3218 (L) |
3333
3334
3352
3184
3185
3186
3187
3189
3191 (L)
3193 (L)
3195 (L)
3198 (L)
3200 (L)
3204 (L)
3214 (L)
3307 (L)
3311 (L) |
3215
3216
3217
3219
3220 (L)
3302 (L)
3304 (L)
3314 (L)
3319 (L)
3321 (L)
3322 (L)
3323 (L)
3324 (L)
3336
3338
3343
3347
|
|
M-9994-7159065 |
|
|
Xxxxxxx |
|
|
63.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of April 28, 2005,
recorded in Book 212, Page 489
on December 27, 2005 in Decatur
County, Tennessee.
|
|
TN
|
|
Decatur County
|
|
|
2012 (L) |
|
|
|
M-9994-7159074 |
|
|
Xxxxxxx |
|
|
10
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Title |
|
|
|
|
Deed of Trust and Recording Info |
|
State |
|
County |
|
|
Properties Included (CWT No.) |
|
|
Title Policy No. |
|
|
Company |
|
Misc. |
64.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded in
Record Book 221, Page 601 on
May 9, 2005 in DeKalb County,
Tennessee.
|
|
TN
|
|
DeKalb County
|
|
|
3063 (L) |
|
|
|
M-9994-7159060 |
|
|
Xxxxxxx |
|
|
65. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
66.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of April 2, 2007,
recorded as Instrument No.
07066776 in Book DT447, Page
335 on August 29, 2007 with the
Xxxxx County, Tennessee
Register of Deeds.
|
|
TN
|
|
Xxxxx County
|
|
|
3707 (CWT 116)
|
|
|
FA-31-248673AU
|
|
First Am |
|
|
67.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of April 2, 2007,
recorded as Instrument
#2007080700076, Book and Page
GI 8430 392 on August 7, 2007
in Xxxxxxxx County, Tennessee.
|
|
TN
|
|
Xxxxxxxx County
|
|
|
3660 (CWT 304)
3661 (CWT 624)
3666 (CWT 310)
3667 (CWT 78) (L)
3669 (CWT 309)
3673 (CWT 109) (L)
3674 (CWT 667)
3677 (CWT 606)
3680 (CWT 94)
3681 (CWT 607)
3682 (CWT 610)
3685 (CWT 144)
3687 (CWT 107)
3690 (CWT 130)
3691 (CWT 139) (L)
3692 (CWT 152)
3683 (CWT 692)
3662 (CWT 681)
3686 (CWT 690)
|
|
|
FA-31-248673CA
FA-31-248673CW
FA-31-248673CD
FA-31-248673Z
FA-31-248673CC
FA-31-248673AP
FA-31-248673CY
FA-31-248673CS
FA-31-248673AE
FA-31-248673CT
FA-31-248673CU
FA-31-248673DC
FA-31-248673AN
FA-31-248673AZ
FA-31-248673BD
FA-31-248673BM
FA-31-248673DD
|
|
First Am |
|
|
68.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of July 13, 2006,
recorded as Instrument
#2006072500091, Book and Page
GI 8023 72 on July 25, 2006 in
Xxxxxxxx County, Tennessee.
|
|
TN
|
|
Xxxxxxxx County
|
|
|
3531 (CWT 202)
3532 (CWT 203)
3533 (CWT 205)
3534 (CWT 206)
3536 (CWT 209)
3537 (CWT 210)
3538 (CWT 215)
3542 (CWT 219)
|
|
|
FA-31-1096830
FA-31-1096831
FA-31-1096832
FA-31-1096833
FA-31-1096835
FA-31-1096836
FA-31-1096837
FA-31-1096839
|
|
First Am |
|
|
11
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Title |
|
|
|
|
Deed of Trust and Recording Info |
|
State |
|
County |
|
|
Properties Included (CWT No.) |
|
|
Title Policy No. |
|
|
Company |
|
Misc. |
69.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of August 15, 2006,
recorded as Instrument
#2006081700175, Book and Page
GI 8051 702 on August 17, 2006
in Xxxxxxxx County, Tennessee.
|
|
TN
|
|
Xxxxxxxx County
|
|
|
3530 (CWT 201)
|
|
|
FA-31-1096844
|
|
First Am |
|
|
70.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded in
Deed of Trust Book 625, Page
336 on May 9, 2005 in Xxxxxxxx
County, Tennessee.
|
|
TN
|
|
Xxxxxxxx County
|
|
|
3010 (L) |
|
|
|
M-9994-7159056 |
|
|
Xxxxxxx |
|
|
71.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded as
Instrument No. 05003045 in Book
16, Page 1123 on May 9, 2005
with the Xxxxxxx County,
Tennessee Register of Deeds.
|
|
TN
|
|
Xxxxxxx County
|
|
|
1004 |
|
|
|
M-9994-7159052 |
|
|
Xxxxxxx |
|
|
72.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded as
Instrument #200505090089413 on
May 9, 2005 in Xxxx County,
Tennessee Register of Deeds.
|
|
TN
|
|
Xxxx County
|
|
|
1133
3698 (CWT 401)
3699 (CWT 402)
3700 (CWT 409)
3701 (CWT 404)
3702 (CWT 405)
3703 (CWT 413)
3704 (CWT 410)
3705 (CWT 406)
3706 (CWT 403)
|
|
|
M-9994-7159071
FA-31-1-248673CF
FA-31-1-248673CG
FA-31-1-248673CM
FA-31-1-248673CI
FA-31-1-248673CJ
FA-31-1-248673CO
FA-31-1-248673CN
FA-31-1-248673CK
FA-31-1-248673CH
|
|
Xxxxxxx
First Am
“
“
“
“
“
“
“
“ |
|
|
73.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of February 8, 2010,
recorded in Book 337, Page 881
on March 2, 2010 with the
Xxxxxxxx County, Tennessee
Register of Deeds.
|
|
TN
|
|
Xxxxxxxx County
|
|
|
5250 (CWT 250)
|
|
|
2010.82307-8015090 |
|
|
Chicago |
|
|
74.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of April 2, 2007,
recorded as Document Nos.
07004695 and 07004696 in BK/PG
TD593/209-239 and BK/PG
TD593/240-270 on August 8, 2007
with the Lincoln County,
Tennessee Register of Deeds.
|
|
TN
|
|
Lincoln County
|
|
|
3659 (CWT 114)
|
|
|
FA-31-248673AT
|
|
First Am |
|
|
12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Title |
|
|
|
|
Deed of Trust and Recording Info |
|
State |
|
County |
|
|
Properties Included (CWT No.) |
|
|
Title Policy No. |
|
|
Company |
|
Misc. |
75.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005 recorded in Book
TD 378, Page 1 on May 9, 2005
in Macon County, Tennessee.
|
|
TN
|
|
Macon County
|
|
|
1092 (L) |
|
|
|
M-9994-7159055 |
|
|
Xxxxxxx |
|
|
76.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of July 13, 2006,
recorded in Book 374, Page 309
on July 19, 2006 in Xxxxxx
County, Tennessee.
|
|
TN
|
|
Xxxxxx County
|
|
|
3543 (CWT 220)
|
|
|
FA-31-1096840
|
|
First Am |
|
|
77.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded in
Volume 1035, Page 1094 on May
9, 2005 in Xxxxxxxxxx County,
Tennessee.
|
|
TN
|
|
Xxxxxxxxxx County
|
|
|
3202
3205 (L) |
|
|
|
M-9994-7159059 |
|
|
Xxxxxxx |
|
|
78.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of April 2, 2007,
recorded as Instrument
#07002656, Book and Page TD
363/153-184 on August 3, 2007
in Polk County, Tennessee
Register of Deeds.
|
|
TN
|
|
Polk County
|
|
|
3664 (CWT 145) (L)
3665 (CWT 54)
|
|
|
FA-31-248673BH
FA-31-248673Q
|
|
First Am |
|
|
79.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded in
Record Book 227, Page 464 on
May 10, 2005 with the Xxxxxx
County, Tennessee Register of
Deeds.
|
|
TN
|
|
Xxxxxx County
|
|
|
7460
1024 (L) |
|
|
|
M-9994-7159067 |
|
|
Xxxxxxx |
|
|
80. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
81.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded as
Instrument No. 144188 in Book
1026, Pages 616-651 on June 1,
2005 in Xxxxxxxxx County,
Tennessee.
|
|
TN
|
|
Xxxxxxxxx County
|
|
|
1007 [1] (L)
1007 [2] (L)
1007 [3] (L)
1007 [4] (L)
1028 (L) |
|
|
|
M-9994-7159070 |
|
|
Xxxxxxx |
|
|
82.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded in
Book 1026, Pages 652-686 on
June 1, 2005 in Xxxxxxxxx
County, Tennessee.
|
|
TN
|
|
Xxxxxxxxx County
|
|
|
3140 (L)
3299 (L) |
|
|
|
M-9994-7159070 |
|
|
Xxxxxxx |
|
|
13
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Title |
|
|
|
|
Deed of Trust and Recording Info |
|
State |
|
County |
|
|
Properties Included (CWT No.) |
|
|
Title Policy No. |
|
|
Company |
|
Misc. |
83.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents and Fixture Filing
dated as of December 15, 2005,
recorded in Book 583, Page 1452
on January 13, 2006 with the
Xxxxxxxxxx County, TN Register
of Deeds.
|
|
TN
|
|
Xxxxxxxxxx County
|
|
|
3406 (CWT 3045)
3407 (CWT 1756)
3426 (CWT 34078)
|
|
|
302966
302965
302968 |
|
|
Chicago |
|
|
84.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded as
Instrument #1343244 in Book
501, Page 1868 on May 20, 2005
with the Xxxxxxxxxx County,
Tennessee Register of Deeds.
|
|
TN
|
|
Xxxxxxxxxx County
|
|
|
3162
3305 (L)
3312 (L)
3316 (L)
3317 (L)
3318 (L)
3344
3654 (CWT 120)
|
|
|
M-9994-7159063
“
“
“
“
“
“
FA-31-248673AV
|
|
Xxxxxxx
First Am |
|
|
85.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of April 2, 2007,
recorded as Instrument
#07002492, in BK/PG 233/808-840
on August 13, 2007 with the
Sequatchie County, Tennessee
Register of Deeds.
|
|
TN
|
|
Sequatchie County
|
|
|
3658 (CWT 97)
|
|
|
FA-248673AG
|
|
First Am |
|
|
86.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of April 2, 2007,
recorded as Instrument
#07047237, Book 2884, Pages
626-656 on August 7, 2007 in
Xxxxxx County, Tennessee
Register of Deeds.
|
|
TN
|
|
Xxxxxx County
|
|
|
3696 (CWT 416) (L)
|
|
|
FA-31-1-248673CQ
|
|
First Am |
|
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14
|
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Title |
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|
Deed of Trust and Recording Info |
|
State |
|
County |
|
|
Properties Included (CWT No.) |
|
|
Title Policy No. |
|
|
Company |
|
Misc. |
87.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded as
Instrument #05084180 on June 1,
2005 in Shelby County,
Tennessee.
|
|
TN
|
|
Shelby County
|
|
|
5546
(CWT 3048) (L)
5547
(CWT 3153) (L)
3003 (L)
3015 (L)
3046 (L)
3054 (L)
3056 (L)
3057 (L)
3138 (L)
3142
3143 (L)
3144[1]
3144[2] (L)
3148
3150
3157
3158
3164
3165
3174
|
3245
3246
3251
3252
3253 (L)
3261
3262
3265
3269
3271 (L)
3280 (L)
3281 (L)
3282
3283 (L)
3287
3288 (L)
3289 (L)
3291
3295
7449
|
|
|
M-9994-7159064 |
|
|
Xxxxxxx |
|
|
88.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents
and Fixture Filing dated as of
April 28, 2005, recorded as
Instrument #050841482 on June
1, 2005 in Shelby County,
Tennessee.
|
|
TN
|
|
Shelby County
|
|
|
3159 |
|
|
|
See #87
|
|
Xxxxxxx |
|
|
89.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of December 15, 2005,
recorded in Book 2423, Page 250
on January 13, 2006 in Xxxxxx
County, Tennessee.
|
|
TN
|
|
Xxxxxx County
|
|
|
3427 (CWT 34077)
3417 (CWT 1653) (L)
|
|
|
302969
302970 |
|
|
Chicago |
|
|
90.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded in
Book 2255, Page 22 on May 25,
2005 in Xxxxxx County,
Tennessee.
|
|
TN
|
|
Xxxxxx County
|
|
|
3353 (L)
1027 (L)
3068 (L)
3315 (L) |
|
|
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M-9994-7159062 |
|
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Xxxxxxx |
|
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15
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Title |
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|
|
Deed of Trust and Recording Info |
|
State |
|
County |
|
|
Properties Included (CWT No.) |
|
|
Title Policy No. |
|
|
Company |
|
Misc. |
91.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of April 28, 2005,
recorded in Book 1206, Page 535
on May 23, 2005 in Xxxxxx
County, Tennessee.
|
|
TN
|
|
Xxxxxx County
|
|
|
3041 (L) |
|
|
|
M-9994-7159072 |
|
|
Xxxxxxx |
|
|
92.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded in
Book 128, Page 114 on May 16,
2005 with the Xxxxxx County,
Tennessee Register of Deeds.
|
|
TN
|
|
Xxxxxx County
|
|
|
1014 (L) |
|
|
|
M-9994-7159054 |
|
|
Xxxxxxx
First Am |
|
|
93.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded as
Instrument #05044315, Book
RB179, Page 648-681 on May 10,
2005 in White County,
Tennessee.
|
|
TN
|
|
White County
|
|
|
1010 [1] (L)
1010 [2] (L) |
|
|
|
M9994-7159053 |
|
|
Xxxxxxx |
|
|
94.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of December 15, 2005,
recorded in Book 3802, Page 93
on January 13, 2006 in
Xxxxxxxxxx County, Tennessee.
|
|
TN
|
|
Xxxxxxxxxx County
|
|
|
34047
3408 (CWT 1765)
3409 (CWT 1763)
3412 (CWT 2099)
3428 (L)
|
|
|
302970
302974
302972
302973
302975 |
|
|
Chicago |
|
|
95.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing made dated
as of April 28, 2005, recorded
in Book 4080, Page 100 on
October 23, 2006 in Xxxxxxxxxx
County, Tennessee.
|
|
TN
|
|
Xxxxxxxxxx County,
|
|
|
1045 (L)
3212 [1] (L)
3212 [2] (L)
3303 (L)
3310
3326 (L)
3340 [1] (L)
3340 [2] (L)
3378 (L) |
|
|
|
M-9994-7159073 |
|
|
Xxxxxxx |
|
|
96.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of October 13, 2006,
recorded in Book 1210, Page
1520 on October 18, 2006 in
Xxxxxx County, Tennessee.
|
|
TN
|
|
Xxxxxx County
|
|
|
3354 |
|
|
|
2010.82307-79677441 |
|
|
Chicago |
|
|
97.
|
|
Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of December 15, 2005,
recorded in Book 1161, Page 532
on January 30, 2006 in Xxxxxx
County, Tennessee.
|
|
TN
|
|
Xxxxxx County
|
|
|
3421 (CWT 1755)
|
|
|
302976 |
|
|
Chicago |
|
|
16
|
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|
|
Title |
|
|
|
|
Deed of Trust and Recording Info |
|
State |
|
County |
|
|
Properties Included (CWT No.) |
|
|
Title Policy No. |
|
|
Company |
|
Misc. |
98.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded in
Book 1114, Page 145 on May 20,
2005 in Xxxxxx County,
Tennessee.
|
|
TN
|
|
Xxxxxx County
|
|
|
3064 (L) |
|
|
|
M-9994-7159066 |
|
|
Xxxxxxx |
|
|
99.
|
|
Amended and Restated Deed of
Trust, Security Agreement,
Assignment of Leases and Rents,
and Fixture Filing dated as of
April 28, 2005, recorded in
Book 1114, Page 98 on May 20,
2005 in Xxxxxx County,
Tennessee.
|
|
TN
|
|
Xxxxxx County
|
|
|
3306 (L)
3320 (L)
3341
3351 |
|
|
|
M-9994-7159066 |
|
|
Xxxxxxx |
|
|
100.
|
|
Amended and Restated Credit
Line Deed of Trust, Security
Agreement, Assignment of Leases
and Rents, and Fixture Filing
dated as of April 28, 2005,
recorded in Book 6371, Page 1
on May 6, 2005 in Chesterfield
County, Virginia.
|
|
VA
|
|
Chesterfield County
|
|
|
4065 (L) |
|
|
|
M-9994-8233293 |
|
|
Xxxxxxx |
|
|
101.
|
|
Credit Line Deed of Trust,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded as
Instrument No. 050004207 on May
9, 2005 in the City of
Lynchburg, VA
|
|
VA
|
|
City of Lynchburg
|
|
|
4031 |
|
|
|
M-9994-8233281 |
|
|
Xxxxxxx |
|
|
102.
|
|
Credit Line Deed of Trust,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded as
Instrument #050002019 on May 6,
2005 in Xxxxxxxxx County,
Virginia.
|
|
VA
|
|
Xxxxxxxxx County
|
|
|
4064 (L) |
|
|
|
M-9994-8233276 |
|
|
Xxxxxxx |
|
|
103.
|
|
Credit Line Deed of Trust,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded in
Book 2506, Page 736 on May 6,
2005 in Hanover County,
Virginia.
|
|
VA
|
|
Hanover County
|
|
|
4061 (L) |
|
|
|
M-9994-8233288 |
|
|
Xxxxxxx |
|
|
104.
|
|
Credit Line Deed of Trust,
Security Agreement, Assignment
of Leases and Rents, and
Fixture Filing dated as of
April 28, 2005, recorded as
Instrument #05002133 on May 6,
2005 in Prince Xxxxxx County,
Virginia.
|
|
VA
|
|
Prince Xxxxxx County
|
|
|
4058 (L) |
|
|
|
M-9994-8233279 |
|
|
Xxxxxxx |
|
|
17
EXHIBIT B
Landlord Waivers
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Xxxxx |
|
Xxxxxxx |
|
Xxxx |
|
Xxxxx |
|
Xxx |
|
Xxxxxx |
|
Xxxxxxxx |
0.
|
|
|
1107 |
|
|
000 X.X. Xxxxxxxxx
Xxxxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Limestone
|
|
Julyn, Inc. |
2.
|
|
|
3068 |
|
|
0000 Xxxx Xxxx
Xxxxxx
|
|
Xxxxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx
|
|
Galco Company |
3.
|
|
|
3138* |
|
|
000 Xxxx Xxxxxxx
Xxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Shelby
|
|
Xxxxx X. Xxxx and
Xxxxxxx X. Xxxx |
4.
|
|
|
3140 |
|
|
0000 Xxxxxxxx Xxxx.
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx
|
|
AmSouth Bank,
Trustee under the
Will of Xxxxx X.
Xxxxxxxx |
5.
|
|
3144 (Tract 1) 3144 (Tract 2)
|
|
0000 Xxxxxx Xxxxxx
Summer Avenue
|
|
Memphis
Memphis
|
|
TN
TN
|
|
|
38122
38122 |
|
|
Xxxxxx
Xxxxxx
|
|
Xxxxxxx X.
Xxxxxxxxx, Trustee
for Lessor B&B
Properties |
6.
|
|
|
3191 |
|
|
0000 Xxxxxx Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx
|
|
Xxxxxxx X. Xxxxxx
and Xxxxxx X.
Xxxxxx c/o Xxxx
Xxxxxx Realty |
7.
|
|
|
3198* |
|
|
0000 Xxxx Xxx Xxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx
|
|
Xxxx X. Xxxxxxx |
8.
|
|
|
3200* |
|
|
0000 Xxxxx’x Xxxx
Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson
|
|
Oakley Enterprises,
FLP
(Xxxxx Xxxxxx,
Trustee) |
18
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Xxxxx |
|
Xxxxxxx |
|
Xxxx |
|
Xxxxx |
|
Xxx |
|
Xxxxxx |
|
Xxxxxxxx |
0.
|
|
|
3204* |
|
|
000 XxXxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson
|
|
L. Xxxxx Xxxxx |
10.
|
|
|
3204* |
|
|
000 XxXxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson
|
|
L. Xxxxx Xxxxx |
11.
|
|
|
3214* |
|
|
00 Xxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson
|
|
L. Xxxxx Xxxxx |
12.
|
|
|
0000 |
|
|
00-X Xxxxxxxx Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson
|
|
Property Development |
13.
|
|
|
3304 |
|
|
0000 Xxxxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson
|
|
French XxXxxxxx,
Jr. (Xxx Xxxxx
Markets, Inc.) |
14.
|
|
|
3305 |
|
|
0000 Xxxxxxxxx Xxxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx
|
|
Property Development |
15.
|
|
|
3306 |
|
|
0000 Xxxxxxxxxxxxx
Xxxx
|
|
Xx. Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Wilson
|
|
French XxXxxxxx,
Jr. (Xxx Xxxxx
Markets, Inc.) |
16.
|
|
|
3312 |
|
|
0000 X. Xxxxxx
Xxxxxx
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx
|
|
Venture Properties |
17.
|
|
|
3315 |
|
|
000 Xxxx Xxxx Xxxxxx
|
|
Xxxxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx
|
|
Property Development |
18.
|
|
|
3316 |
|
|
0000 Xxxxxxxxx Xxxx
|
|
Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx
|
|
Property Development |
19.
|
|
|
3320 |
|
|
000 X. Xx. Xxxxxx
Xxxx
|
|
Xx. Xxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx
|
|
PEP Properties |
20.
|
|
|
3322 |
|
|
000 Xxxxxxxx Xxxxx
Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson
|
|
Property Development |
21.
|
|
|
3325 |
|
|
000 Xxxxxxx Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson
|
|
PEP Properties |
22.
|
|
|
3327 |
|
|
0000 Xxxxxxx 00
Xxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson
|
|
Xxxxxx Partnership |
23.
|
|
|
3328 |
|
|
000 Xxx Xxxxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson
|
|
A.L. Yakabow |
24.
|
|
|
4058 |
|
|
0000 Xxxxxx Xxxxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Prince Xxxxxx
|
|
The Clovelly
Corporation |
25.
|
|
|
4061 |
|
|
000 Xxxxxxx Xxxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Hanover
|
|
Ashland Capital
Attn: Xxxxx Xxxxxx |
26.
|
|
|
4065 |
|
|
00000 Xxxxxxxx Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Chesterfield
|
|
The Xxxxxxxx
Xxxxxxxxxxx |
00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Xxxxx |
|
Xxxxxxx |
|
Xxxx |
|
Xxxxx |
|
Xxx |
|
Xxxxxx |
|
Xxxxxxxx |
00.
|
|
|
2004* |
|
|
0000 Xxxx 00xx
Xxxxxx
|
|
Xxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Pulaski
|
|
Hastings Real
Estate Company |
28.
|
|
3212 (Parcel 2)*
3212 (Parcel 1)
|
|
8009 Xxxxx’x Xxxx
8007 Xxxxx’x Xxxx
|
|
Brentwood
Brentwood
|
|
TN
TN
|
|
|
37027
37027 |
|
|
Xxxxxxxxxx
Xxxxxxxxxx
|
|
L. Xxxxx Xxxxx |
29.
|
|
|
3303 |
|
|
000 Xxxxxxx
Xxxx/Xxxxxxxx Xxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx
|
|
Xxx X. Xxxxxx |
30.
|
|
|
3314 |
|
|
0000 Xxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson
|
|
SunTrust Bank (as
Trustee under a
Trust of C.W.
Kempkau) |
31.
|
|
|
3317 |
|
|
0000 Xxxxxxxx Xxxx
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx
|
|
XxXxxxxx Family
Investments (Used
to be Xxxx and
Xxxxxxx Associates,
under new
management). |
32.
|
|
|
3318 |
|
|
000 Xxxxxxx Xxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxxx
|
|
The H Group LLC |
33.
|
|
|
3319 |
|
|
0000 Xxxxxxxxxxxxx
Xxxx
|
|
Xxx Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson
|
|
PEP Properties |
34.
|
|
|
3321 |
|
|
000 Xxxxxxxx Xxxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson
|
|
PEP Properties |
35.
|
|
|
3323 |
|
|
0000 Xxxxxxx Xxxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson
|
|
PEP Properties |
36.
|
|
|
3324 |
|
|
000 Xxxxx Xxxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Davidson
|
|
PEP Properties |
37.
|
|
|
4064 |
|
|
0000 Xxxxxxx Xxxxx
Xxxx
|
|
Xxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxxx
|
|
The Clovelly
Corporation |
38.
|
|
|
5547 |
|
|
0000 Xxxxx Xxxx
|
|
Xxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx
|
|
Xxxxx & Xxxxx |
39.
|
|
|
3058 |
|
|
3262 I-55
|
|
Xxxxxx
|
|
AR
|
|
|
|
|
|
Xxxxxxxxxx
|
|
Brite Enterprises,
Inc.; Interstate
Property
Development; and
Flagstar
Enterprises, Inc. |
20
EXHIBIT C
Search Jurisdictions
|
|
|
Debtor |
|
Jurisdiction |
|
|
SOS DE |
|
|
TN- Xxxxxxxxxx Co. |
GASOLINE ASSOCIATED SERVICES, INC.
|
|
SOS AL |
GASOLINE ASSOCIATED SERVICES, INC.
|
|
AL- DeKalb Co. |
GASOLINE ASSOCIATED SERVICES, INC.
|
|
TN- Xxxxxxxxxx Co. |
LIBERTY WHOLESALE CO., INC.
|
|
SOS AL |
LIBERTY WHOLESALE CO., INC.
|
|
AL- DeKalb Co. |
LIBERTY WHOLESALE CO., INC.
|
|
TN- Xxxxxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
SOS DE |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
XX- Xxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
AL- Cherokee Co. |
MAPCO EXPRESS, INC.
|
|
XX- Xxxx Co. |
MAPCO EXPRESS, INC.
|
|
XX- Xxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
AL- Coosa Co. |
MAPCO EXPRESS, INC.
|
|
AL- Cullman Co. |
MAPCO EXPRESS, INC.
|
|
AL- DeKalb Co. |
MAPCO EXPRESS, INC.
|
|
AL- Etowah Co. |
MAPCO EXPRESS, INC.
|
|
XX- Xxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
AL- Lauderdale Co. |
MAPCO EXPRESS, INC.
|
|
XX- Xxx Co. |
MAPCO EXPRESS, INC.
|
|
AL- Limestone Co. |
MAPCO EXPRESS, INC.
|
|
XX- Xxxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
AL- Madison Co. |
MAPCO EXPRESS, INC.
|
|
AL-St. Clair Co. |
MAPCO EXPRESS, INC.
|
|
AL- Shelby Co. |
MAPCO EXPRESS, INC.
|
|
AL- Talledega Co. |
MAPCO EXPRESS, INC.
|
|
AL- Tallapoosa Co. |
MAPCO EXPRESS, INC.
|
|
AL- Tuscaloosa Co. |
MAPCO EXPRESS, INC.
|
|
XX- Xxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
AR- Xxxxxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
AR- Xxxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
AR- Xxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
AR- Monroe Co. |
MAPCO EXPRESS, INC.
|
|
AR- Xxxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
AR- Poinsett Co. |
MAPCO EXPRESS, INC.
|
|
AR- Pulaski Co. |
MAPCO EXPRESS, INC.
|
|
AR- St. Xxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
AR- Saline Co. |
MAPCO EXPRESS, INC.
|
|
GA- Bartow Co. |
MAPCO EXPRESS, INC.
|
|
GA- Catoosa Co. |
MAPCO EXPRESS, INC.
|
|
GA- Cherokee Co. |
MAPCO EXPRESS, INC.
|
|
GA- Dade Co. |
MAPCO EXPRESS, INC.
|
|
GA- Xxxxx Co. |
|
|
|
Debtor |
|
Jurisdiction |
MAPCO EXPRESS, INC.
|
|
GA- Xxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
GA- Xxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
GA- Polk Co. |
MAPCO EXPRESS, INC.
|
|
GA- Xxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
GA- Xxxxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
KY- Xxxxx Co. |
MAPCO EXPRESS, INC.
|
|
KY- Xxxx Co. |
MAPCO EXPRESS, INC.
|
|
KY- Xxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
LA- Lafayette Parish |
MAPCO EXPRESS, INC.
|
|
LA- St. Xxxxxx Xxxxxx |
MAPCO EXPRESS, INC.
|
|
MS- Xxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Coffee Co. |
MAPCO EXPRESS, INC.
|
|
TN- Davidson Co. |
MAPCO EXPRESS, INC.
|
|
TN- Decatur Co. |
MAPCO EXPRESS, INC.
|
|
TN- DeKalb Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Grundy Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Lincoln Co. |
MAPCO EXPRESS, INC.
|
|
TN- Macon Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Polk Co |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Sequatchie Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Shelby Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
TN- White Co. |
MAPCO EXPRESS, INC.
|
|
TN- Xxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
VA- Xxxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
VA- Chesterfield Co. Circuit Court |
MAPCO EXPRESS, INC.
|
|
VA- Xxxxxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
VA- Fredericksburg Co. |
MAPCO EXPRESS, INC.
|
|
VA- Hanover Co. |
MAPCO EXPRESS, INC.
|
|
VA- Henrico Co. |
MAPCO EXPRESS, INC.
|
|
VA- Lynchburg City |
MAPCO EXPRESS, INC.
|
|
VA- Page Co. |
MAPCO EXPRESS, INC.
|
|
VA- Prince Xxxxxx Co. |
MAPCO EXPRESS, INC.
|
|
VA- Richmond City |
MAPCO EXPRESS, INC.
|
|
VA- Spotsylvania Co. |
MAPCO EXPRESS, INC.
|
|
SOS AL (tax lien) |
MAPCO EXPRESS, INC.
|
|
SOS AR (tax lien) |
MAPCO EXPRESS, INC.
|
|
SOS VA (tax lien) |
MAPCO EXPRESS, INC.
|
|
SOS MS (tax lien) |
EXHIBIT D
UCC Financing Statements
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of |
|
|
Debtor |
|
Assets |
|
Jurisdiction |
|
Filing |
|
Filing No. |
MAPCO Express
|
|
All assets
|
|
DE SOS |
|
|
|
|
Liberty
|
|
All assets
|
|
AL SOS |
|
|
|
|
GAS
|
|
All assets
|
|
AL SOS |
|
|
|
|
Holdings
|
|
Pledged stock of
MAPCO Express
|
|
DE SOS |
|
|
|
|
EXHIBIT E
Lien Releases Terminations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Termination |
|
|
|
|
|
|
|
|
|
|
|
|
Date and |
|
|
|
|
|
|
Date of |
|
|
|
|
|
Filing |
Debtor |
|
Secured Party |
|
Jurisdiction |
|
Filing |
|
|
Filing No. |
|
Number |
MAPCO Express
|
|
Tennessee Dept. of
Labor & Workforce
Development
|
|
Xxxxxxxxxx Co.
Register of Deeds
|
|
8/9/10
|
|
|
5112/393 |
|
|
|
MAPCO Express
|
|
City Tax Lien
|
|
KY- Xxxxx Co.
|
|
10/22/10
|
|
|
00179261 |
|
|
|
MAPCO Express
|
|
City Tax Lien
|
|
KY- Xxxxx Co.
|
|
10/22/10
|
|
|
00179262 |
|
|
|
EXHIBIT F
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Xxxx |
|
Xxxxxxx |
|
Xxxx |
|
Xxxxx |
|
Xxx |
|
Xxxxxx |
1.
|
|
|
1115 |
|
|
X.X. Xxx 000/Xxx 00 Xxxx
|
|
Xxxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
2.
|
|
|
3298 |
|
|
000 Xxxxx Xxxxxxxx
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
3.
|
|
|
0000 |
|
|
X Xxx 000 & Xxx 000
|
|
Xxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
4.
|
|
|
3644 |
|
|
000 Xxxxx Xx.
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
5.
|
|
|
3649 |
|
|
0000 Xxx Xxx.
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
6.
|
|
|
3645 |
|
|
0000 XxXxxxxxx Xxx
|
|
Xxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxx |
7.
|
|
|
3668 |
|
|
0000 Xxxx Xxx
|
|
Xxxxxx Xxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
8.
|
|
|
3675 |
|
|
0000 Xxxxxxxx Xxx
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
9.
|
|
|
3678 |
|
|
0000 X. Xxxx Xx.
|
|
Xxxxxxxxxxx
|
|
XX
|
|
|
00000 |
|
|
Xxxxxxxx |
10.
|
|
|
7328 |
|
|
0000 Xxxx X. Xxxxxxx Xxxx.
|
|
X. Xxxxxx Xxxx
|
|
XX
|
|
|
00000 |
|
|
Pulaski |