FIRST COMMITMENT INCREASE AMENDMENT TO CREDIT AGREEMENT
Exhibit 7.04
EXECUTION VERSION
FIRST COMMITMENT INCREASE AMENDMENT TO CREDIT AGREEMENT
This Amendment dated as of September 28, 2007 (this
“Amendment”) is entered into by XXX ENTERPRISES, INC., a Delaware
corporation (the “Company”), the Persons identified on Schedule A
hereto as the Increase Lenders (the “Increase Lenders”), and
JPMORGAN CHASE BANK, N.A., as Administrative Agent under the Credit
Agreement dated as of July 26, 2006 (as amended, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among the
Company, the Lenders party thereto and the Administrative Agent.
This Amendment is entered into pursuant to Section 2.01(d)(iii)
of the Credit Agreement. The parties hereto hereby agree as
follows:
1. Defined Terms. Capitalized terms which are defined in the
Credit Agreement and not otherwise defined herein have the meanings given
in the Credit Agreement.
2. Commitment Increase. Effective on September 28, 2007,
subject to satisfaction of the conditions of effectiveness of this
Amendment set forth in Section 3 hereof on or prior to such date (such
date, subject to satisfaction of such conditions, the “Effective
Date”):
(a) The Company confirms and agrees that (i) it has requested an
increase in the aggregate Revolving Commitments in the amount of
$500,000,000 from the Increase Lenders pursuant to and on the terms
set forth in Section 2.01(d) of the Credit Agreement, effective on the
Effective Date, (ii) the Company will cause the Effective Date to be
the first day of an Interest Period for all Conventional Revolving
Loans then outstanding, (iii) on the Effective Date the Company will
borrow (and hereby requests funding of) Conventional Revolving Loans
from the Increase Lenders in the amounts required by Section
2.01(d)(iv) of the Credit Agreement for application as therein set
forth and (iv) prior to the Effective Date the Company will deliver to
the Administrative Agent a timely Interest Election Request which will
apply equally and ratably to all Conventional Revolving Loans
outstanding on the Effective Date, including those funded on the
Effective Date by the Increase Lenders.
(b) Each Increase Lender agrees that (i) effective on and at all
times after the Effective Date, in addition to all Revolving
Commitments of such Lender (if any) outstanding prior to the Effective
Date, such Increase Lender will be bound by all obligations of a
Lender under the Credit Agreement in respect of an additional
Revolving Commitment in the amount set forth next to the name of such
Increase Lender on Schedule A hereto and (ii) on the Effective Date
such Increase Lender will fund Conventional Revolving Loans in the
amount required by Section 2,01(d)(iv) of the Credit Agreement for
application as therein set forth. On the Effective Date, each Increase
Lender which was not a Lender prior to the Increase Effective Date
will become a Lender for all purposes of the Credit Agreement.
(c) Exhibit 2.01(a) to the Credit Agreement is hereby amended and
restated in its entirety to read as set forth on Schedule B hereto, so
as to reflect (i) the additional Revolving Commitment of each Increase
Lender as set forth in Schedule A hereto and the pro rata share that
such Revolving Commitment bears to the aggregate Revolving Commitments
after giving effect to this Amendment, (ii) assignments recorded in
the Register after the Closing Date and (iii) adjustment of the pro
rata shares of the Lenders as necessary to reflect the addition of
each such additional Revolving Commitment and its pro rata share and
to give effect to such
EXECUTION VERSION
assignments. Each additional Revolving Commitment set forth in Schedule A hereto is hereby
added to the Register.
(d) The obligations of the Increase Lenders hereunder are in all respects several and
not joint. No Increase Lender is or ever shall be in any respect responsible or liable for
any obligation of any other Increase Lender.
3. Effectiveness. This Amendment will become effective upon satisfaction of the
following conditions precedent on or before September 28, 2007:
(a) Execution and delivery of this Amendment by the Administrative Agent and receipt by
the Administrative Agent of counterparts of this Amendment (or, in the case of Increase
Lenders, photocopies thereof sent by fax, pdf or other electronic means, each of which shall
be enforceable with the same effect as a signed original) executed and delivered by the
Company and each Increase Lender.
(b) Receipt by the Administrative Agent of (i) an executed opinion of counsel for the
Company identified in and substantially in the form attached hereto as Exhibit A and
(ii) an executed certificate of a financial officer of the Company substantially in the form
attached hereto as Exhibit B, (iii) to the extent invoiced, payment of all
reasonable legal expenses incurred by the Administrative Agent in connection with this
Amendment or the increase in the Revolving Commitments reflected hereby and (iv) such other
documentation as the Administrative Agent may reasonably request.
4. Representation and Warranties. The Company represents and warrants that, after
giving effect to the provisions of this Amendment, (a) each of the representations and warranties
made by the Company in Article VI of the Credit Agreement are true in all material respects on and
as of the date hereof as if made on and as of such date, except to the extent that such
representations and warranties refer to an earlier date, in which case they are true in all
material respects as of such earlier date and except that for this purpose only the date “December
31, 2005” in the last sentence of Section 6.02 of the Credit Agreement shall be changed to
“December 31, 2006”, and (b) no Default or Event of Default has occurred and is continuing.
5. Continuing Effect of the Credit Agreement. This Amendment is limited solely to the
matters expressly set forth herein and does not constitute a waiver of any Default or Event of
Default or a consent to any future action or event. As modified and amended hereby, the Credit
Agreement remains in full force and effect.
6. Miscellaneous. The provisions of Sections 13.01, 13.04, 13.06, 13.07(a), 13.08,
13.09, 13.10 13.12 and 13.13 shall apply with like effect to this Amendment.
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EXECUTION VERSION
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their proper and duly authorized officers as of the day and year first above written.
XXX ENTERPRISES, INC. |
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By: | /s/ Xxxxx X. Xxxxx /s/ | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President & Treasurer | |||
XX XXXXXX CHASE BANK, N.A., as Administrative Agent and as an Increase Lender |
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By: | /s/ Xxx X. Xxxxx /s/ | |||
Name: | Xxx X. Xxxxx | |||
Title: | Vice President | |||
CITIBANK, N.A., as an Increase Lender |
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By: | /s/ Xxxxx Xxxx Xxxxxxxx /s/ | |||
Name: | Xxxxx Xxxx Xxxxxxxx | |||
Title: | Managing Director | |||
WACHOVIA BANK, NATIONAL ASSOCIATION, as an Increase Lender |
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By: | /s/ Xxxx X. Xxxx /s/ | |||
Name: | Xxxx X. Xxxx | |||
Title: | Director | |||
XXXXXX COMMERCIAL PAPER, INC, as an Increase Lender |
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By: | /s/ Xxxxxx X. Xxxxxx /s/ | |||
Name: | Xxxxxx X. Xxxxxx | |||
Title: | Authorized Signatory | |||
Signature Page to First Commitment Increase Amendment to Credit Agreement
EXECUTION VERSION
THE BANK OF TOKYO-MITSUBISHI UFJ. LTD., NEW YORK BRANCH, as an Increase Lender |
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By: | /s/ J. Carlos /s/ | |||
Name: | J. Carlos | |||
Title: | Authorized Signatory | |||
BARCLAYS BANK PLC, as an Increase Lender |
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By: | /s/ Xxxxxxxx X. Xxxx /s/ | |||
Name: | Xxxxxxx X. Xxxx | |||
Title: | Director | |||
BANK OF AMERICA, N.A., as an Increase Lender |
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By: | /s/ Xxxxxxxxxxx X. Xxx /s/ | |||
Name: | Xxxxxxxxxxx X. Xxx | |||
Title: | Vice President | |||
THE BANK OF NOVA SCOTIA, as an
Increase Lender |
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By: | /s/ Xxxxxx X. Xxxxxx /s/ | |||
Name: | Xxxxxx X. Xxxxxx | |||
Title: | Authorized Signatory | |||
CAYLON, NEW YORK BRANCH, as an
Increase Lender |
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By: | /s/ Xxxx XxXxxxxxx /s/ | |||
Name: | Xxxx XxXxxxxxx | |||
Title: | Managing Director | |||
By: | /s/ Xxxxxxx Xxxxxx /s/ | |||
Name: | Xxxxxxx Xxxxxx | |||
Title: | Managing Director | |||
EXECUTION VERSION
DEUTSCHE BANK AG NEW YORK BRANCH, as an Increase Lender |
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By: | /s/ Xxxxxxx Xxxxxxxx /s/ | |||
Name: | Xxxxxxx Xxxxxxxx | |||
Title: | Director | |||
By: | /s/ Xxxxxx Xxxxxx /s/ | |||
Name: | Xxxxxx Xxxxxx | |||
Title: | Director | |||
MIZUHO CORPORATE BANK, LTD., as an Increase Lender |
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By: | /s/ Xxxxxx Xxxxxx /s/ | |||
Name: | Xxxxxx Xxxxxx | |||
Title: | Deputy General Manager | |||
THE ROYAL BANK OF SCOTLAND PLC, as an Increase Lender |
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By: | /s/ Xxxxxx Xxxx /s/ | |||
Name: | Xxxxxx Xxxx | |||
Title: | Managing Director | |||
SUMITOMO MITSUI BANKING CORPORATION, as an Increase Lender |
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By: | /s/ Xxx X. Xxxxxxxxx /s/ | |||
Name: | Xxx X. Xxxxxxxxx | |||
Title: | General Manager | |||
SUNTRUST BANK, as an Increase Lender |
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By: | /s/ E. Xxxxxxx Xxxxxx XX /s/ | |||
Name: | E. Xxxxxxx Xxxxxx XX | |||
Title: | Vice President | |||
EXECUTION VERSION
THE BANK OF NEW YORK, as an Increase Lender |
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By: | /s/ Xxxx X. Xxxxxx /s/ | |||
Name: | Xxxx X. Xxxxxx | |||
Title: | Vice President | |||
BNP PARIBAS, as an Increase Lender |
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By: | /s/ Xxxxx Xxxxxx /s/ | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Managing Director | |||
UBS LOAN FINANCE LLC, as an Increase Lender |
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By: | /s/ Xxxx X. Xxxxx /s/ | |||
Name: | Xxxx X. Xxxxx | |||
Title: | Associate Director | |||
By: | /s/ Xxxx X. Xxxx /s/ | |||
Name: | Xxxx X. Xxxx | |||
Title: | Associate Director | |||
BAYERISCHE LANDESBANK, CAYMAN ISLANDS BRANCH, as an Increase Lender |
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By: | /s/ Xxxxxxx XxXxxxx /s/ | |||
Name: | Xxxxxxx XxXxxxx | |||
Title: | Vice President | |||
By: | /s/ Xxxxx X. Xxxxxx /s/ | |||
Name: | Xxxxx X. Xxxxxx | |||
Title: | Vice President | |||
EXECUTION VERSION
COMMERZBANK AG, NEW YORK AND GRAND CAYMAN BRANCHES, as an Increase Lender |
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By: | /s/ Xxxxxx C.A. Xxxxxxxx, Jr. /s/ | |||
Name: | Xxxxxx C.A. Xxxxxxxx Jr. | |||
Title: | SVP & Manager | |||
By: | /s/ Xxxxxxxx Xxxxxxx /s/ | |||
Name: | Xxxxxxxx Xxxxxxx | |||
Title: | Vice President | |||
CREDIT SUISSE, CAYMAN ISLANDS BRANCH, as an Increase Lender |
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By: | /s/ Xxxxxx Xxxx /s/ | |||
Name: | Xxxxxx Xxxx | |||
Title: | Vice President | |||
By: | /s/ Xxxxxxxxxx Xxxxx /s/ | |||
Name: | Xxxxxxxxxx Xxxxx | |||
Title: | Associate | |||
XXXXXXX XXXXX BANK USA, as an Increase Lender |
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By: | /s/ Xxxxx Xxxxx /s/ | |||
Name: | Xxxxx Xxxxx | |||
Title: | Director | |||
XXXXXX XXXXXXX BANK, as an Increase Lender |
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By: | /s/ Xxxxxx Xxxxxx /s/ | |||
Name: | Xxxxxx Xxxxxx | |||
Title: | Authorized Signatory | |||
EXECUTION VERSION
XXXXXXX STREET COMMITMENT CORPORATION (RECOURSE ONLY TO THE ASSETS OF XXXXXXX STREET COMMITMENT CORPORATION), as an Increase Lender |
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By: | /s/ Xxxx Xxxxxx /s/ | |||
Name: | Xxxx Xxxxxx | |||
Title: | Assistant Vice President | |||
COBANK ACB, as an Increase Lender |
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By: | /s/ Xxxxx Xxxxxx /s/ | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Assistant Vice President | |||
COMERICA BANK, as an Increase Lender |
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By: | /s/ Xxxx X. Xxxxx /s/ | |||
Name: | Xxxx X. Xxxxx | |||
Title: | First Vice President | |||
E.SUN COMMERCIAL BANK, LTD, LOS ANGELES BRANCH, as an Increase Lender |
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By: | /s/ Xxxxxxxx Xxx /s/ | |||
Name: | Xxxxxxxx Xxx | |||
Title: | EVP & General Manager | |||
FIFTH THIRD BANK, as an Increase Lender |
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By: | /s/ Xxxxx X. Xxxxxxx /s/ | |||
Name: | Xxxxx X. Xxxxxxx | |||
Title: | Vice President | |||
EXECUTION VERSION
ING CAPITAL LLC, as an Increase Lender |
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By: | /s/ Xxxxxx Xxxxxxxx /s/ | |||
Name: | Xxxxxx Xxxxxxxx | |||
Title: | Managing Director | |||
LLOYDS TSB BANK, as an Increase Lender |
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By: | /s/ Mario Del Duca /s/ | |||
Name: | Mario Del Duca | |||
Title: | Associate Director | |||
By: | /s/ Xxxxxx Xxxxx /s/ | |||
Name: | Xxxxxx Xxxxx | |||
Title: | Associate Director | |||
NORTHERN TRUST, as an Increase Lender |
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By: | /s/ Xxxxx Xxxxx /s/ | |||
Name: | Xxxxx Xxxxx | |||
Title: | Officer | |||
REGIONS BANK, as an Increase Lender |
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By: | /s/ Xxxxxxx X. Xxx /s/ | |||
Name: | Xxxxxxx X. Xxx | |||
Title: | Senior Vice President | |||
U.S. BANK NATIONAL ASSOCIATION, as an Increase Lender |
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By: | /s/ Xxxxx Xxxxxx /s/ | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Assistant Vice President | |||
EXECUTION VERSION
XXXXX FARGO BANK, NATIONAL ASSOCIATION, as an Increase Lender |
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By: | /s/ Xxxx Xxxxxxxxx /s/ | |||
Name: | Xxxx Xxxxxxxxx | |||
Title: | Senior Vice President | |||
FIRST HAWAIIAN BANK, as an Increase Lender |
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By: | /s/ Xxxxxxx X. Xxxxxxx /s/ | |||
Name: | Xxxxxxx X. Xxxxxxx | |||
Title: | Vice President | |||