Exhibit 10.3
SECOND AMENDMENT, dated as of June 13,
2008 (this “ Amendment ”), to the CREDIT
AGREEMENT dated as of May 11, 2007, as amended as of
March 3, 2008 (as further amended, supplemented, or otherwise
modified from time to time, the “ Credit Agreement
”), among AGILENT TECHNOLOGIES, INC. (the “
Company ”), a Delaware corporation, the LENDERS party
thereto and JPMORGAN CHASE BANK, N.A., as Administrative
Agent.
WHEREAS, the
Lenders have agreed to extend credit to the Company under the
Credit Agreement on the terms and subject to the conditions set
forth therein; and
WHEREAS, the
Company has requested that the Lenders amend certain provisions of
the Credit Agreement and the Lenders whose signatures appear below,
constituting at least the Required Lenders, are willing to amend
the Credit Agreement on the terms and subject to the conditions set
forth herein;
NOW, THEREFORE, in
consideration of the mutual agreements herein contained and other
good and valuable consideration, the sufficiency and receipt of
which are hereby acknowledged, the parties hereto hereby agree as
follows:
SECTION 1. Defined Terms.
Capitalized terms used but not otherwise defined herein
(including in the recital hereto) have the meanings assigned to
them in the Credit Agreement.
SECTION 2. Amendment of Certain
Definitions : Section 1.01 of the Credit Agreement is
hereby amended:
(a) by inserting the following definition
of “Acceptable Replacement Facility”:
“ Acceptable Replacement Facility
” means a sale and repurchase transaction generally
comparable to that provided for in the World Trade Master
Repurchase Agreement (a) under which the Company or a
Subsidiary will receive net proceeds in an amount at least equal to
the principal or face amount payable as a result of the exercise of
the “put” under the World Trade Master Repurchase
Agreement, (b) the obligations of the Company and the
Subsidiaries under which constitute Repurchase Obligations and
(c) under the terms of which none of the Company or
any Subsidiary can be required (other than as a result of a breach,
an event of default, a change in law or a similar event) to
repurchase the securities or other assets that are the subject of
such Repurchase Obligations prior to November 1, 2010.
(b) by inserting the following definition
of “Replacement Facility Requirement”:
“ Replacement Facility Requirement
” means the requirement that (a) definitive principal
documentation establishing an Acceptable Replacement Facility shall
have been fully negotiated by the Company, one or more Subsidiaries
and one or more counterparties and shall have been executed by each
of such persons and deposited under an escrow or similar
arrangement that enables the Company or a Subsidiary, without the
consent of any other Person, to cause such documentation to become
effective on or prior to July 16, 2008 (or any later
date to which the repurchase date under the World Trade
Master Repurchase Agreement shall have been extended as provided in
clause (iii) of the final sentence of Article VII, but in
any event prior to November 16, 2008), (b) the
Administrative Agent shall have received a certificate of a
Financial Officer attaching copies of such definitive documentation
and (c) the Company shall have delivered to the Administrative
Agent a certificate of a Financial Officer confirming that all
conditions to the closing of the transactions provided for in such
documentation (other than the issuance of a credit rating, if such
certificate shall state that such rating is expected to be issued
by such closing) have been satisfied or will be satisfied on or
prior to July 16, 2008 (or any later date to which the
repurchase date under the World Trade Master Repurchase Agreement
shall have been extended as provided in clause (iii) of the
final sentence of Article VII, but in any event prior to
November 16, 2008), and that there is no impediment to the
closing of such transactions on or prior to July 16, 2008 (or
such later date).
(c) by changing the definition of
“Repurchase Obligations” therein to read as
follows:
“ Repurchase Obligations ”
means, at any time, the sum of (a) the World Trade
Indebtedness at such time and (b) the aggregate amount of all
other accrued, absolute or contingent repurchase obligations
(including repurchase obligations that become due on a future date)
of the Company and the Subsidiaries at such time, in each case to
the extent such amounts would be shown as liabilities on a
consolidated balance sheet of the Company as of such time prepared
in accordance with GAAP and in a manner consistent with the
financial statements referred to in Section 3.05.
(d) by changing the definition of
“Repurchase Obligation Restricted Cash” therein to read
as follows:
“ Repurchase Obligation Restricted
Cash ” means, at any time, the aggregate amount of cash
and cash equivalents and the current market value of short-term
investment securities (such cash and cash equivalents and
investment securities being collectively called “
Specified Assets ”) held at
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such time by one or more Subsidiaries to
the extent such amount would be shown as restricted cash on a
consolidated balance sheet of the Company as of such time prepared
in accordance with GAAP and in a manner consistent with the
financial statements referred to in Section 3.05;
provided that any particular Specified Assets shall
be counted as Repurchase Obligation Restricted Cash only to the
extent that (a) (i) the Subsidiary holding such Specified
Assets sha
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