AMENDMENT No. 2 , dated as of March 2, 2009 (this
“ Amendment ”), to the Credit Agreement, dated
as of November 17, 2006 (as amended on February 16, 2007,
the “ Credit Agreement ”), among HCA Inc. (the
“ Company ” or the “ Parent
Borrower ”), HCA UK Capital Limited (the “
European Subsidiary Borrower ” and, collectively with
the Parent Borrower, the “ Borrowers ”), the
lending institutions from time to time parties thereto (each a
“ Lender ” and, collectively, the “
Lenders ”), Bank of America, N.A., as Administrative
Agent, Swingline Lender and Letter of Credit Issuer, JPMorgan Chase
Bank, N.A. and Citicorp North America, Inc., as Co-Syndication
Agents, Banc of America Securities LLC, J.P. Morgan Securities
Inc., Citigroup Global Markets Inc. and Merrill Lynch, Pierce,
Fenner & Smith Incorporated, as Joint Lead Arrangers and
Bookrunners, Deutsche Bank Securities Inc. and Wachovia Capital
Markets LLC, as Joint Bookrunners, and Merrill Lynch Capital
Corporation, as Documentation Agent. Capitalized terms used but not
defined herein have the meanings provided in the Credit
Agreement.
WHEREAS,
Section 14.1 of the Credit Agreement permits the Required
Lenders or, with the consent of the Required Lenders, the
Administrative Agent and/or the Collateral Agent, to enter into
amendments, supplements or other modifications to the Credit
Agreement and the other Credit Documents with the relevant Credit
Parties;
WHEREAS,
the Credit Parties desire to amend the Credit Agreement and the
other Credit Documents on the terms set forth herein;
NOW,
THEREFORE, in consideration of the premises and covenants contained
herein and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties
hereto, intending to be legally bound hereby, agree as
follows:
(a) Section 1.1
of the Credit Agreement is hereby amended by adding the following
definitions in proper alphabetical order:
“
Additional General Intercreditor Agreement ” shall
mean, in connection with any incurrence of any Future Secured Notes
constituting First Lien Obligations, any agreement, in form
reasonably satisfactory to the Administrative Agent, among the
Collateral Agent, on behalf of the holders of such First Lien
Obligations, and the collateral agent and authorized
representatives (or either thereof if reasonably satisfactory to
the Administrative Agent) for the holders of each of the Senior
Second Lien Notes, the Additional Senior Second Lien Notes and any
other Indebtedness secured on a pari passu basis with the
Senior Second Lien Notes and the Additional Senior Second Lien
Notes, in each case to the extent then outstanding, providing that
the Liens securing such Senior Second Lien Notes, Additional Senior
Second Lien Notes and any other Indebtedness secured on a pari
passu basis with the Senior Second Lien Notes is subordinated
to the Lien of the Collateral Agent for the benefit of the holders
of such First Lien Obligations on substantially the same basis as
is provided for with respect to the Lien securing the Obligations
pursuant to the General Intercreditor Agreement.
“
Additional Receivables Intercreditor Agreement ” shall
mean, in connection with any incurrence of any Future Secured Notes
constituting First Lien Obligations, any agreement, in form
reasonably satisfactory to the Administrative Agent, between the
Collateral Agent, on behalf of the holders of such First Lien
Obligations, and the Receivables Collateral Agent providing that
the Liens of the Collateral Agent for the benefit of the holders of
such First Lien Obligations are junior to the Liens securing the
obligations under the ABL Facility to substantially the same extent
as the Liens securing the Obligations are junior to the Liens
securing the obligations under the ABL Facility pursuant to the
Receivables Intercreditor Agreement.
“
Additional Senior Second Lien Notes ” shall mean the
Parent Borrower’s $310,000,000 aggregate principal amount of
9.875% senior secured notes due 2017.
“
First Lien Intercreditor Agreement ” shall mean the
Intercreditor Agreement substantially in the form of
Exhibit M among the Administrative Agent, the
Collateral Agent and the representatives for purposes thereof for
any other First Lien Secured Parties, as the same may be amended,
supplemented, restated, modified, or waived from time to time in
accordance with the terms thereof.
“
First Lien Obligations ” shall mean the Obligations
and the Future Secured Notes Obligations (other than any Future
Secured Notes Obligations that are secured by a Lien ranking junior
to the Lien securing the Obligations), collectively.
“
First Lien Secured Parties ” shall mean the Secured
Parties and the Future Secured Notes Secured Parties and any
representative on their behalf for such purposes (other than the
holders of any Future Secured Notes Obligations, and any such
representative on their behalf, that are secured by a Lien ranking
junior to the Lien securing the Obligations),
collectively.
“
Future Secured Notes ” shall mean senior secured notes
(which notes may either have the same lien priority as the
Obligations or may be secured by a Lien ranking junior to the Lien
securing the Obligations) in each case issued by the Parent
Borrower or a U.S. Guarantor, (a) the terms of which do not
provide for any scheduled repayment, mandatory redemption or
sinking fund obligations prior to the Tranche B-1 Term Loan
Maturity Date (other than customary offers to repurchase upon a
change of control, asset sale or event of loss and customary
acceleration rights after an event of default), (b) the
covenants, events of default, guarantees, collateral and other
terms of which (other than interest rate and redemption premiums),
taken as a whole, are not more restrictive to the Parent Borrower
and the Subsidiaries than those in this Agreement; provided
that a certificate of an Authorized Officer of the Parent Borrower
delivered to the Administrative Agent at least three Business Days
(or such shorter period as the Administrative Agent may reasonably
agree) prior to the incurrence of such Indebtedness, together with
a reasonably detailed description of the material terms and
conditions of such Indebtedness or drafts of the documentation
relating thereto, stating that the Parent Borrower has determined
in good faith that such terms and conditions satisfy the foregoing
requirement shall be conclusive evidence that such terms and
conditions satisfy the foregoing requirement unless the
Administrative Agent notifies the Parent Borrower within
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two Business
Days after receipt of such certificate that it disagrees with such
determination (including a reasonable description of the basis upon
which it disagrees), and (c) of which no Subsidiary of the
Parent Borrower (other than a U.S. Guarantor) is an obligor and
which are not secured by any Collateral other than the U.S.
Collateral.
“
Future Secured Notes Documents ” shall mean any
document or instrument issued or executed and delivered with
respect to any Future Secured Notes by any Credit Party.
“
Future Secured Notes Obligations ” shall mean, if any
Future Secured Notes are issued, all advances to, and debts,
liabilities, obligations, covenants and duties of, any Credit Party
arising under any Future Secured Notes Document, whether direct or
indirect (including those acquired by assumption), absolute or
contingent, due or to become due, now existing or hereafter arising
and including interest and fees that accrue after the commencement
by or against any Credit Party or any Affiliate thereof of any
proceeding under any bankruptcy or insolvency law naming such
Person as the debtor in such proceeding, regardless of whether such
interest and fees are allowed claims in such proceeding.
“
Future Secured Notes Secured Parties ” shall mean the
holders from time to time of the Future Secured Notes
Obligations.
“
Second Amendment Date ” shall have the meaning
assigned thereto in Section 4 hereof, which date occurred on
March 2, 2009.
(b) Section 1.1
of the Credit Agreement is hereby amended by deleting the
definition of “ Collateral Agent ” contained
therein and replacing it with the following:
“
Collateral Agent ” shall mean, with respect to
references to such term in this Agreement and the European Security
Documents, Bank of America, N.A., in its capacity as collateral
agent for the Lenders under this Agreement in accordance with the
terms of this Agreement, and with respect to references to such
term in the U.S. Security Documents, Bank of America, N.A., in its
capacity as collateral agent for the First Lien Secured Parties
under the U.S. Security Documents in accordance with the terms of
the U.S. Security Documents, or any successor collateral agent
pursuant to any such document.
(c) Section 1.1
of the Credit Agreement is hereby amended by deleting the
definition of “ Debt Incurrence Prepayment Event
” contained therein and replacing it with the
following:
“
Debt Incurrence Prepayment Event ” shall mean any
issuance or incurrence by the Parent Borrower or any of the
Restricted Subsidiaries of any Indebtedness (excluding any
Indebtedness permitted to be issued or incurred under
Section 10.1 other than Section 10.1(o) or
Section 10.1(y)(i) ).
(d) Section 1.1
of the Credit Agreement is hereby amended by changing the the
proviso in the definition of “ Permitted Additional
Debt ” as follows:
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(i) deleting the
word “is” immediately following the words “Parent
Borrower” on the first full line of such proviso;
(ii) replacing the
word “five” with “three” immediately after
the words “at least”; and
(iii) replacing
the words “prior to such incurrence” with “within
two Business Days after receipt of such certificate”
immediately after the words “notifies the Parent
Borrower”.
(e) Section 1.1
of the Credit Agreement is hereby amended by deleting the word
“and” in the definition of “Revaluation
Date” immediately before clause (b) therein and
inserting the following immediately prior to the period at the end
of such definition:
“; and
(c) in the case of Term Loans, (i) any date of prepayment
of Term Loans pursuant to Section 5.2 and
(ii) such other dates as the Administrative Agent may
determine.
(f) Section 1.1
of the Credit Agreement is hereby amended by deleting the
definition of “ U.S. Security Documents ”
contained therein and replacing it with the following:
“
U.S. Security Documents ” shall mean, collectively,
(a) the U.S. Guarantee, (b) the U.S. Pledge Agreement,
(c) the U.S. Security Agreement, (d) the Mortgages,
(e) the Intercreditor Agreements, (f) the First Lien
Intercreditor Agreement and (g) each other security agreement
or other instrument or document executed and delivered pursuant to
Section 9.11 , 9.12 or 9.14 or pursuant
to any other such U.S. Security Documents or Future Secured Notes
Documents to secure all of the Obligations.
(g) Section 5.2
of the Credit Agreement is hereby amended by adding the following
proviso at the end of clause (a)(i) of such Section:
“;
provided that, with respect to the Net Cash Proceeds of an
Asset Sale Prepayment Event, Casualty Event or Permitted Sale
Leaseback, in each case solely to the extent with respect to any
U.S. Collateral, the Parent Borrower may use a portion of such Net
Cash Proceeds to prepay or repurchase Future Secured Notes with a
Lien on the U.S. Collateral ranking pari passu with the
Liens securing the Obligations to the extent any applicable Future
Secured Notes Document requires the issuer of such Future Secured
Notes to prepay or make an offer to purchase such Future Secured
Notes with the proceeds of such Prepayment Event, in each case in
an amount not to exceed the product of (x) the amount of such
Net Cash Proceeds multiplied by (y) a fraction, the numerator
of which is the outstanding principal amount of the Future Secured
Notes with a Lien on the U.S. Collateral ranking pari passu
with the Liens securing the Obligations and with respect to which
such a requirement to prepay or make an offer to purchase exists
and the denominator of which is the sum of the outstanding
principal amount of such Future Secured Notes and the outstanding
principal amount of Term Loans .”
(h) Section 10.1
of the Credit Agreement is hereby amended by:
(i) deleting the
word “and” at the end of clause (w);
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(ii) deleting the
period at the end of clause (x) and replacing it with “;
and”
(iii) adding the
following clause (y) immediately after clause (x) of such
Section:
“(y)
Indebtedness in respect of (i) Future Secured Notes to the
extent that such Indebtedness is incurred no earlier than
90 days before the Second Amendment Date and the Net Cash
Proceeds therefrom are, no later than three (3) Business Days
(or on or before, at the Parent Borrower’s option, the Second
Amendment Date, in the case of the Additional Senior Second Lien
Notes) after the receipt thereof, applied to permanently repay Term
Loans in accordance with Section 5.2 and (ii) any
refinancing, refunding, renewal or extension of any Indebtedness
specified in subclause (i) above; provided that, except
to the extent otherwise permitted hereunder, (x) the principal
amount of any such Indebtedness is not increased above the
principal amount thereof outstanding immediately prior to such
refinancing, refunding, renewal or extension (except for any
original issue discount thereon and the amount of fees, expenses
and premium in connection with such refinancing), (y) the
direct and contingent obligors with respect to such Indebtedness
are not changed and (z) such Indebtedness otherwise complies
with clauses (a) and (b) of the definition of Future
Secured Notes”.
(i) Section 10.1
of the Credit Agreement is hereby amended by replacing the term
“Obligations” with “First Lien Obligations”
in the parenthetical in clause (y)(ii) of the final paragraph of
such Section.
(j) Section 10.2
of the Credit Agreement is hereby amended by deleting clause
(a) contained therein in its entirety and replacing it with
the following:
“(a) Liens
arising under (i) the Credit Documents securing the
Obligations; (ii) the U.S. Security Documents securing Future
Secured Notes Obligations that constitute First Lien Obligations
permitted to be incurred under Section 10.1(y) ;
provided that, in the case of this subclause (ii) ,
(A) the holders of such Indebtedness (or a representative
thereof on behalf of such holders) shall have delivered to the
Collateral Agent an Additional First Lien Secured Party Consent (as
defined in the U.S. Security Agreement), (B) the Parent
Borrower shall have complied with the other requirements of
Section 8.17 of the U.S. Security Agreement with
respect to such Future Secured Notes Obligations, and (C) the
Collateral Agent shall h
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