SECOND AMENDMENT TO CREDIT AND GUARANTY AGREEMENT
Exhibit 10.3
EXECUTION COPY
SECOND AMENDMENT TO CREDIT AND GUARANTY AGREEMENT
SECOND AMENDMENT TO CREDIT AND GUARANTY AGREEMENT (this “Amendment”), dated as of May 31,
2011, among GRIFOLS, INC. (the “U.S. Borrower” or the “Borrower Representative”) and DEUTSCHE BANK
AG NEW YORK BRANCH (“DBNY”), as administrative agent (in such capacity and including any
successors, the “Administrative Agent”). All capitalized terms used herein and not otherwise
defined herein shall have the respective meanings provided such terms in the Credit Agreement (as
defined below).
W I T N E S S E T H:
WHEREAS, the Parent, the U.S. Borrower, the Lenders party thereto from time to time, the
Guarantors party thereto from time to time, the Administrative Agent and DBNY, as the Collateral
Agent, are party to that certain credit and guaranty agreement, dated as of November 23, 2010 (as
amended, modified and/or supplemented through, but not including, the date hereof, the “Credit
Agreement”);
WHEREAS, Section 10.05(d)(iii) of the Credit Agreement permits the Borrower Representative to
request that the schedules to the Credit Agreement be amended (or new schedules added) to reflect
immaterial changes or changes of a clean-up nature, and such schedules may be amended or added with
the consent of the Administrative Agent (and without the consent of any other party to any Loan
Document);
WHEREAS, the Borrower Representative has requested that certain Schedules to the Credit
Agreement be amended and restated as described in Section 1 below; and
WHEREAS, the Borrower has
represented and warranted to the Administrative Agent that such changes are clean-up in nature;
NOW, THEREFORE, IT IS AGREED:
Section 1. Amendment to Credit Agreement. Schedules 1.01(d), 4.01, 4.02, 4.12, 6.01, 6.02 and
6.06 to the Credit Agreement are hereby amended and restated in the forms attached in Annex A
hereto.
Section 2. Conditions to Effectiveness. This Amendment shall become effective (the “Effective
Date”) upon the execution and delivery of this Amendment by the Borrower Representative and the
Administrative Agent.
Section 3. Miscellaneous Provisions.
(a) The Parent and the Borrower Representative hereby represent and warrant to the
Administrative Agent and each Lender that, as of the Effective Date, after giving
effect to the amendment set forth herein, each of the representations and warranties set forth
in Sections 4.01, 4.02 and 4.03 of the Credit Agreement are true and correct in all material
respects on and as of the Effective Date to the same extent as though made on and as of that date,
except to the extent
such representations and warranties specifically relate to an earlier date, in which case such
representations and warranties shall have been true and correct in all material respects on and as
of such earlier date; provided, that to the extent any such representation or warranty is already
qualified by materiality or Material Adverse Effect, such representation or warranty shall be true
and correct in all respects.
(b) The Parent and the Borrower Representative acknowledge and agree that each of the Loan
Documents to which it is a party or otherwise bound shall continue in full force and effect and
that all of its obligations thereunder and the obligations of the other Loan Parties party thereto
shall continue, shall be valid and enforceable and shall not be impaired or limited by the
execution or effectiveness of this Amendment.
(c) This Amendment is limited as specified and shall not constitute a modification, acceptance
or waiver of any other provisions of the Credit Agreement or any other Loan Document.
(d) This Amendment may be executed in any number of counterparts and by the different parties
hereto on separate counterparts, each of which counterparts when executed and delivered (including
by facsimile or electronic transmission) shall be an original, but all of which shall together
constitute one and the same instrument. Delivery of an executed counterpart of a signature page to
this Agreement by facsimile or other electronic transmission will be effective as delivery of a
manually executed counterpart thereof. A complete set of counterparts shall be lodged with the
Borrower Representative and the Administrative Agent.
(e) THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED
BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER
THAN THE LAW OF THE STATE OF NEW YORK.
(f) From and after the Effective Date, all references in the Credit Agreement and each of the
other Loan Documents to the Credit Agreement shall be deemed to be references to the Credit
Agreement as modified hereby. This Amendment shall constitute a Loan Document for all purposes
under the Credit Agreement and each of the other Loan Documents.
(g) This Amendment shall be binding upon and inure to the benefit of the U.S. Borrower, the
Parent and the Guarantors and each of their respective successors and assigns, and upon the
Administrative Agent and the Lenders and their respective successors and assigns.
(h) Any provision of this Amendment 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.
2
IN WITNESS WHEREOF, the parties hereto have caused their
duly authorized officers to execute and deliver this Amendment
as of the date first above written.
| GRIFOLS INC. |
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| By: | /s/ Xxxxx Xxxx | |||
| Name: | ||||
| Title: | ||||
Signature Page to Second Amendment to Grifols Credit Agreement
| AGENT: DEUTSCHE BANK AG NEW YORK BRANCH, as Administrative Agent |
||||
| By: | /s/ Xxxxx Xxxxxx | |||
| Name: | Xxxxx Xxxxxx | |||
| Title: | Director | |||
| By: | /s/ Xxxx Xxxxxxxxx | |||
| Name: | Xxxx Xxxxxxxxx | |||
| Title: | Director | |||
Signature Page to Second Amendment to Grifols Credit Agreement
