AMENDMENT NUMBER 7 TO MEMBERS AGREEMENTLLC Membership Agreement |
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EXHIBIT 10.1
EXECUTION COPY
AMENDMENT NUMBER 7 TO MEMBERS AGREEMENT
THIS
AMENDMENT NUMBER 7, dated as of January 2, 2007 (this
“Amendment”), to the Members Agreement, dated as of
September 18, 2002 and amended by Amendment Number 1 thereto as of June 15,
2004, Amendment Number 2 thereto as of July 8, 2004, Amendment Number 3
thereto as of June 15, 2005, Amendment Number 4 thereto as of
August 1, 2005, Amendment Number 5 thereto as of November 8, 2006 and
Amendment Number 6 thereto as of November 8, 2006 (as amended or
supplemented from time to time as permitted thereby, the “Members
Agreement”), among CF LEASING LTD., a company with limited liability
organized and existing under the laws of Bermuda (together with its successors
and permitted assigns, the “Company”), FB TRANSPORTATION CAPITAL
LLC, a Delaware limited liability company (“FBT”), and CRONOS
EQUIPMENT (BERMUDA) LIMITED, a limited liability company organized and
existing under the laws of Bermuda (“Cronos”), FB AVIATION &
INTERMODAL FINANCE HOLDING B.V., a limited liability company organized under
the laws of The Netherlands (“FBA”), and joined by THE CRONOS
GROUP, a société anonyme holding organized and existing under the
laws of Grand Duchy of Luxembourg (“The Cronos Group”).
W I T N E S S E T H:
WHEREAS,
the parties have previously entered into the Members Agreement;
WHEREAS,
the parties desire to amend the Members Agreement in order to increase the
Commitment of each Member from $30,000,000 to $35,000,000.
NOW
THEREFORE, in consideration of the premises and mutual covenants herein
contained, the parties hereto agree as follows:
SECTION
1. Defined Terms. Capitalized terms used in this Amendment and not
otherwise defined herein shall have the meanings assigned in the Members
Agreement.
SECTION
2. Amendment to the Members Agreement. Effective upon the date hereof,
following the execution and delivery hereof, the Commitment of each Member
shall be increased from Thirty Million Dollars ($30,000,000) to Thirty-Five
Million Dollars ($35,000,000). Accordingly, Exhibit C to the Members
Agreement shall be amended by deleting it in its entirety and replacing it with
new Exhibit C attached to this Amendment. For the avoidance of doubt, FBT
and FBA shall together be treated as a single Member with respect to
determining the respective Commitments of the Members.
SECTION
3. Effectiveness of Amendment; Terms of this Amendment.
(a) This
Amendment shall become effective as of January 2, 2007.
(b) This
Amendment shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and assigns.
(c) On
and after the execution and delivery hereof, (i) this Amendment shall be a
part of the Members Agreement, and (ii) each reference in the Members
Agreement to “this
-2-
Agreement” or
“hereof”, “hereunder” or words of like import, and each
reference in any other document to the Members Agreement shall mean and be a
reference to the Members Agreement as amended or modified hereby.
(d) Except
as expressly amended or modified hereby, the Members Agreement shall remain in
full force and effect and is hereby ratified and confirmed by the parties
hereto.
SECTION
4. Execution in Counterparts. This Amendment may be executed by the
parties hereto in separate counterparts (including by fax and/or email), each
of which shall be deemed to be an original and all of which shall constitute
together but one and the same agreement.
SECTION
5. Governing Law. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO CONFLICT OF LAW
PRINCIPLES; PROVIDED THAT SECTION 5-1401 AND 5-1402 OF THE NEW YORK
GENERAL OBLIGATIONS LAW SHALL APPLY, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF
THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK.
SECTION
6. Consent to Jurisdiction. ANY LEGAL SUIT, ACTION OR PROCEEDING AGAINST
THE PARTIES HERETO ARISING OUT OF OR RELATING TO THIS AMENDMENT, OR ANY
TRANSACTION CONTEMPLATED HEREBY, MAY BE INSTITUTED IN ANY FEDERAL OR STATE
COURT IN THE CITY AND COUNTY OF NEW YORK, STATE OF NEW YORK AND EACH PARTY
HERETO HEREBY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE
LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING, AND, SOLELY FOR THE
PURPOSES OF ENFORCING THIS AMENDMENT, EACH PARTY HERETO HEREBY IRREVOCABLY
SUBMITS TO THE JURISDICTION OF ANY SUCH COURT IN ANY SUCH SUIT, ACTION OR
PROCEEDING. THE PARTIES HERETO HEREBY IRREVOCABLY APPOINT AND DESIGNATES CT
CORPORATION SYSTEM, HAVING AN ADDRESS AT 111 EIGHTH AVENUE, NEW YORK, NEW YORK,
10011, ITS TRUE AND DULY AUTHORIZED AGENT FOR THE LIMITED PURPOSE OF RECEIVING
AND FORWARDING LEGAL PROCESS IN ANY SUCH SUIT, ACTION OR PROCEEDING, AND EACH PARTY
HERETO AGREES THAT SERVICE OF PROCESS UPON SUCH PARTY SHALL CONSTITUTE PERSONAL
SERVICE OF SUCH PROCESS ON SUCH PERSON. PURSUANT TO NEW YORK GENERAL
OBLIGATIONS LAW SECTION 5-1402, EACH PARTY HERETO SHALL MAINTAIN THE
DESIGNATION AND APPOINTMENT OF SUCH AUTHORIZED AGENT UNTIL THE TERMINATION OF
THE MEMBERS AGREEMENT. IF SUCH AGENT SHALL CEASE TO SO ACT, THE PARTIES HERETO
SHALL IMMEDIATELY DESIGNATE AND APPOINT ANOTHER SUCH AGENT AND SHALL PROMPTLY
DELIVER TO THE PARTIES HERETO EVIDENCE IN WRITING OF SUCH OTHER AGENT’S
ACCEPTANCE OF SUCH APPOINTMENT.
[Signature page follows.]
IN
WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment
on the date first above written.
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CF LEASING LTD. |
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By: |
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Peter J. Younger |
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Name: Peter J. Younger |
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Title: Director |
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Amendment No. 7 to Members Agt.
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FB AVIATION &
INTERMODAL FINANCE |
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By: |
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/s/ J. W. Kuijpers |
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Name: J. W. Kuijpers |
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Acting on behalf of FB
Corporate Holding |
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B.V. (director) |
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