FIVE YEAR CREDIT AGREEMENT AMENDMENT NO. 2 Dated as of September 25, 2007
EXHIBIT 4
FIVE YEAR CREDIT AGREEMENT
AMENDMENT NO. 2
AMENDMENT NO. 2
Dated as of September 25, 2007
To the Lenders parties to the Credit Agreement
and the Administrative Agent and Issuing Bank referred to below
and the Administrative Agent and Issuing Bank referred to below
Ladies and Gentlemen:
Reference is made to the Five Year Credit Agreement, dated as of August 28, 2007,
as amended by the Five Year Credit Agreement Amendment No. 1, dated as of September 17, 2007 (as further amended,
modified or supplemented as of the date hereof, the “Credit Agreement”), among The Xxxxxxx-Xxxxxxxx
Company, an Ohio corporation (the “Company”), the Lenders party thereto (the “Lenders”), Citicorp
USA, Inc. (“CUSA”), as Administrative Agent (in such capacity the “Administrative Agent”), CUSA, as
Issuing Bank (in such capacity, the “Issuing Bank”), and The Bank of New York, as Paying Agent (the
“Paying Agent”). Capitalized terms used herein and not otherwise defined herein have the meanings
given such terms in the Credit Agreement.
The Company hereby requests that the Credit Agreement be amended as provided below.
Section 1. Credit Agreement Amendment. The parties agree that, subject to the
satisfaction of the conditions precedent to effectiveness set forth below:
(i) The paragraph immediately following the preamble of the Credit Agreement is
hereby amended by deleting the reference to “$150,000,000” therein and substituting
“$250,000,000” therefor.
(ii) The Credit Agreement is hereby amended by deleting Schedule 2.01 and substituting
therefore Schedule 2.01 attached hereto.
Section 2. Conditions to Effectiveness. Section 1 of this amendment (this
“Amendment”) shall be effective (the “Effective Date”) as of the date hereof when and if:
(i) the Company and each Lender shall have executed and delivered to the Administrative
Agent executed counterparts of this Amendment;
(ii) the Administrative Agent shall have received one or more counterparts of an
amendment to the Fee Letter, dated as of September 25, 2007 (the “Fee Letter Amendment”),
duly executed by the Company and CUSA;
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(iii) the Administrative Agent shall have received documents and certificates relating
to (a) the organization, existence and good standing of the Company, (b) the authorization
of the execution, delivery and performance by the Company of this Amendment, the Fee Letter
Amendment, the borrowing of Loans under the Credit Agreement, as amended hereby, and the
issuance and modification of the Letter of Credit for the account of the Company under the
Credit Agreement, as amended hereby, (c) the incumbency of the persons executing this
Amendment and the Fee Letter Amendment on behalf of the Company and (d) any other legal
matters relating to the Company, this Amendment, the Fee Letter Amendment or other
transactions reasonably requested by the Administrative Agent or the Lenders, all in form
and substance satisfactory to the Administrative Agent;
(iv) the Administrative Agent shall have received favorable written opinions (addressed
to the Administrative Agent, the Issuing Bank and the Lenders and dated the Effective Date)
of (i) X.X. Xxxxxxxx, Vice President, General Counsel and Secretary of the Company, in form
and substance reasonably satisfactory to the Administrative Agent, and (ii) Xxxxx Day, in
form and substance reasonably satisfactory to the Administrative Agent; and
(v) the representations and warranties of the Company set forth in Section 3 below
shall be true and correct on and as of the Effective Date as though made on and as of such
date.
Section 3. Representations and Warranties. The Company represents and warrants that (i) the
representations and warranties contained in Article III of the Credit Agreement, as amended hereby
(with each reference therein to “this Agreement”, “hereunder” and words of like import referring to
the Credit Agreement being deemed to be a reference to this Amendment and the Credit Agreement, as
amended hereby, and to the Fee Letter Amendment and the Fee Letter, as amended by the Fee Letter
Amendment), are true and correct in all material respects on and as of the date hereof as though
made on and as of such date, and (ii) no event has occurred and is continuing, or would result from
the execution and delivery of this Amendment or the Fee Letter Amendment, that constitutes a
Default.
Section 4. Effect on the Credit Agreement. The execution, delivery and effectiveness of this
Amendment shall not operate as a waiver of any right, power or remedy of any Lender or the
Administrative Agent under the Credit Agreement, or constitute a waiver of any provision of the
Credit Agreement. Except as expressly amended above, the Credit Agreement is and shall continue to
be in full force and effect and is hereby in all respects ratified and confirmed. This Amendment
shall be binding on the parties hereto and their respective successors and permitted assigns under
the Credit Agreement.
Section 5. Costs, Expenses and Taxes. The Company agrees to pay on demand all reasonable
costs and expenses of the Administrative Agent in connection with the preparation, execution and
delivery of this Amendment and any other instruments and documents to be delivered hereunder,
including, without limitation, the reasonable fees and out-of-pocket expenses of counsel for the
Administrative Agent with respect thereto, and all reasonable costs and expenses (including,
without limitation, counsel fees and expenses), if any, in connection with the enforcement (whether
through negotiations, legal proceedings or otherwise) of this
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Amendment or such other instruments and documents. In addition but subject to the terms and
conditions of the Credit Agreement, the Company agrees to pay any and all stamp and other taxes
payable or determined to be payable in connection with the execution and delivery of this Amendment
and any other instruments and documents to be delivered hereunder, and agrees jointly and severally
to save the Lenders and the Administrative Agent harmless from and against any and all liabilities
with respect to or resulting from any delay in paying or omission to pay such taxes.
Section 6. Miscellaneous. This Amendment shall constitute a Loan Document and shall be
subject to the provisions of Article IX of the Credit Agreement, each of which is incorporated by
reference herein, mutatis mutandi.
If you consent and agree to the foregoing, please evidence such consent and agreement by (i)
executing and returning a counterpart to this Amendment by facsimile to Xxxxx Xxxxxx (fax no.
000-000-0000) and (ii) executing and returning six original counterparts to this Amendment by
overnight mail to King & Spalding LLP, 0000 Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, Xxx Xxxx 00000,
Attention: Xxxxx Xxxxxx, no later than 5:00 p.m., New York City time, on September 25, 2007.
[Remainder of page intentionally left blank.]
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Very truly yours, |
||||
THE XXXXXXX-XXXXXXXX COMPANY |
||||
By | /s/ | |||
Name: | ||||
Title: |
Xxxxxxx XX — Credit Agreement Amendment No. 2
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The undersigned hereby consent
and agree to the foregoing:
and agree to the foregoing:
CITICORP USA, INC.,
individually, as Administrative Agent
and as Lender
individually, as Administrative Agent
and as Lender
By /s/
Name:
Title:
Name:
Title:
THE BANK OF NEW YORK,
as Paying Agent
as Paying Agent
By /s/
Name:
Title:
Title:
Xxxxxxx XX — Credit Agreement Amendment No. 2
Schedule 2.01
Commitments
Commitments
A. During the period from and including the date of the Credit Agreement to but excluding
September 17, 2007.
Lender
|
Commitment | ||||||
Citicorp USA, Inc.
|
$ | 50,000,000 | |||||
Total
|
$ | 50,000,000 | |||||
B. During the period from and including September 17, 2007 to but excluding September 25, 2007.
Lender
|
Commitment | ||||||
Citicorp USA, Inc.
|
$ | 150,000,000 | |||||
Total
|
$ | 150,000,000 | |||||
C. During the period from and including September 25, 2007 to but excluding the Maturity
Date.*
Lender
|
Commitment | ||||||
Citicorp USA, Inc.
|
$ | 250,000,000 | |||||
Total
|
$ | 250,000,000 | |||||
* As such Commitment may be reduced from time to time or terminated in accordance with the terms of the Credit Agreement.