Exhibit
10.1
SECOND AMENDMENT AND
JOINDER
TO THE
THIRD AMENDED AND RESTATED
RECEIVABLES PURCHASE AGREEMENT
AND
AMENDMENT TO THE PERFORMANCE
GUARANTY
This SECOND AMENDMENT AND JOINDER TO
THE THIRD AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT AND
AMENDMENT TO THE PERFORMANCE GUARANTY, dated as of May 1, 2009
(this “ Amendment ”), is among:
(i) CARDINAL HEALTH FUNDING, LLC, a
Nevada limited liability company (the “ Seller
”);
(ii) GRIFFIN CAPITAL, LLC, a Nevada
limited liability company (“ Griffin ” and,
together with the Seller, the “ Seller Parties ”
and each, a “ Seller Party ”);
(iii) RANGER FUNDING COMPANY LLC
(“ Ranger ”), as a Conduit;
(iv) BANK OF AMERICA, N.A. (“
BofA ”), as the Related Financial Institution for
Ranger and as the Managing Agent for Ranger’s Purchaser
Group;
(v) WINDMILL FUNDING CORPORATION
(“ Windmill ”), as a Conduit;
(vi) THE ROYAL BANK OF SCOTLAND PLC
(as successor to ABN AMRO Bank N.V.) (“ RBS ”),
as the Related Financial Institution for Windmill and as the
Managing Agent for Windmill’s Purchaser Group;
(vii) ATLANTIC ASSET SECURITIZATION
LLC (“ Atlantic ”), as a Conduit;
(viii) CALYON NEW YORK BRANCH
(“ Calyon” ), as the Related Financial
Institution for Atlantic and as the Managing Agent for
Atlantic’s Purchaser Group;
(ix) VICTORY RECEIVABLES CORPORATION
(“ Victory ”), as a Conduit;
(x) THE BANK OF TOKYO-MITSUBISHI
UFJ, LTD., NEW YORK BRANCH (“ BTMUNY ”), as the
Related Financial Institution for Victory, as Managing Agent for
Victory’s Purchaser Group and as the Agent (in such capacity,
the “ Agent ”); and
(xi) CARDINAL HEALTH, INC. (the
“ Performance Guarantor ”), an Ohio
corporation.
Capitalized terms used but not
otherwise defined herein have the respective meanings assigned
thereto in the Receivables Purchase Agreement (as defined
below).
PRELIMINARY
STATEMENTS
WHEREAS, the Seller, Griffin, as
initial Servicer, Ranger, as a Conduit, BofA, as Related Financial
Institution for Ranger and as Managing Agent for Ranger’s
Purchaser Group, Windmill, as a Conduit, RBS, as Related Financial
Institution for Windmill and as Managing Agent for Windmill’s
Purchaser Group, Victory, as a Conduit, and BTMUNY, as Related
Financial Institution for Victory, Managing Agent for
Victory’s Purchaser Group and as Agent, are parties to that
certain Third Amended and Restated Receivables Purchase Agreement,
dated as of November 19, 2007 (as amended, supplemented or
otherwise modified from time to time, the “ Receivables
Purchase Agreement ”);
WHEREAS, each of Atlantic, as a
Conduit, and Calyon, as Related Financial Institution for Atlantic
and as Managing Agent for Atlantic’s Purchaser Group, desires
to become a party to the Receivables Purchase Agreement;
WHEREAS, the parties hereto desire
to amend the Receivables Purchase Agreement as set forth
herein;
WHEREAS, in connection with the
transactions contemplated by the Receivables Purchase Agreement,
the Performance Guarantor executed and delivered that certain
Second Amended and Restated Performance Guaranty, dated as of
June 20, 2007, in favor of the Seller (as amended,
supplemented or otherwise modified from time to time, the “
Performance Guaranty ”);
WHEREAS, the Performance Guarantor
has advised the Agent and the Managing Agents that it plans to
(i) cause CareFusion Corporation, a wholly-owned Subsidiary of
the Performance Guarantor and one or more of the Performance
Guarantor’s other Subsidiaries (CareFusion Corporation and
such other Subsidiary(ies), collectively, the “ Spin
Entity ”) to borrow up to $2.0 billion in the aggregate
of certain Indebtedness the proceeds of which (after deducting
expenses) will be used to pay one or more special dividends to the
Performance Guarantor (collectively, the “ Special
Dividend ”) and (ii) after the payment of such
Special Dividend, consummate a separation of the Spin Entity (the
“ Spin-off ”) from the Performance Guarantor,
which Spin-off will be achieved through a distribution of at least
a majority of the outstanding equity interests in the Spin Entity
to the existing shareholders of the Performance Guarantor (together
with the Special Dividend, collectively, the “
Transaction ”); and
WHEREAS, the Performance Guarantor
and the Seller desire to amend the Performance Guaranty as set
forth herein;
NOW, THEREFORE, for good and
valuable consideration, the receipt and adequacy of which are
hereby acknowledged, the parties hereto agree as
follows:
SECTION 1. Joinder of Atlantic
and Calyon to the Receivables Purchase Agreement .
(a) Atlantic as a Conduit .
From and after the date hereof, Atlantic shall be a Conduit party
to the Receivables Purchase Agreement for all purposes thereof and
of the other Transaction Documents as if Atlantic were an original
party to the Receivables Purchase Agreement, and Atlantic assumes
all related rights and agrees to be bound by all of the terms and
provisions applicable
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to Conduits and contained in the Receivables
Purchase Agreement and the other Transaction Documents. Atlantic
confirms that (i) it has received a copy of the Receivables
Purchase Agreement and copies of such other Transaction Documents,
and other documents and information as it has requested and deemed
appropriate to make its own credit analysis and decision to enter
into this Amendment and the Receivables Purchase Agreement and
(ii) it will, independently and without reliance upon the
Agent, any other Conduit, any Managing Agent, any Financial
Institution or any other Purchaser and based on such documents and
information as it shall deem appropriate at the time, continue to
make its own credit decisions in taking or not taking action under
the Receivables Purchase Agreement and the other Transaction
Documents.
(b) Calyon as a Financial
Institution . From and after the date hereof, Calyon shall be
the Related Financial Institution for Atlantic party to the
Receivables Purchase Agreement for all purposes thereof and of the
other Transaction Documents as if Calyon were an original party to
the Receivables Purchase Agreement, and Calyon assumes all related
rights and agrees to be bound by all of the terms and provisions
applicable to Financial Institutions contained in the Receivables
Purchase Agreement and the other Transaction Documents. Calyon
confirms that (i) it has received a copy of the Receivables
Purchase Agreement and copies of such other Transaction Documents,
and other documents and information as it has requested and deemed
appropriate to make its own credit analysis and decision to enter
into this Amendment and the Receivables Purchase Agreement and
(ii) it will, independently and without reliance upon the
Agent, any Conduit, any Managing Agent, any other Financial
Institution or any other Purchaser and based on such documents and
information as it shall deem appropriate at the time, continue to
make its own credit decisions in taking or not taking action under
the Receivables Purchase Agreement and the other Transaction
Documents.
(c) Appointment of Calyon as
Managing Agent for Atlantic’s Purchaser Group . Pursuant
to and in accordance with Section 13.1 of the
Receivables Purchase Agreement, each of Atlantic and Calyon hereby
designates Calyon as, and Calyon hereby agrees to perform the
duties and obligations of, the Managing Agent for Atlantic’s
Purchaser Group. From and after the date hereof, Calyon shall be a
Managing Agent party to the Receivables Purchase Agreement, for all
purposes of the Receivables Purchase Agreement and the other
Transaction Documents as if Calyon were an original party to the
Receivables Purchase Agreement, and Calyon assumes all related
rights and agrees to be bound by all of the terms and provisions
applicable to Managing Agents contained in the Receivables Purchase
Agreement and the other Transaction Documents.
(d) Commitments and Conduit
Purchase Limits of Atlantic’s Purchaser Group . Effective
as of the date hereof, Calyon’s Commitment, as Related
Financial Institution for Atlantic, shall be $102,000,000, and
Atlantic’s Conduit Purchase Limit shall be
$100,000,000.
(e) Consent to Joinder . Each
of the parties hereto consents to the foregoing joinder of Atlantic
and Calyon as parties to the Receivables Purchase Agreement, and
any otherwise applicable conditions precedent thereto under the
Receivables Purchase Agreement and the other Transactions Documents
(other than as set forth herein) are hereby waived.
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SECTION 2. Amendments to the Receivables
Purchase Agreement . The Receivables Purchase Agreement is
amended as follows:
(a) Section 9.1(c)(iii)
of the Receivables Purchase Agreement is amended by replacing the
phrase “the greater of (i) 2% of Adjusted Tangible Net
Worth and (ii) $100,000,000.00” where it appears therein
with the amount “$50,000,000”.
(b) Section 9.1(i) of
the Receivables Purchase Agreement is amended by (i) deleting
the phrase “or any Originator” where it appears in
sub-clause (ii) thereof and (ii) inserting the
phrase “or any Originator” immediately following
“Performance Guarantor” where it appears in
sub-clause (iii) thereof.
(c) The following new defined terms
and definitions thereof are added to Exhibit I to the
Receivables Purchase Agreement in appropriate alphabetical
order:
“ Calyon ” means
Calyon New York Branch and its successors.
“ Calyon Conduit
” means Atlantic Asset Securitization LLC and its
successors.
(d) The definition of “ Fee
Letter ” set forth in Exhibit I to the Receivables
Purchase Agreement is replaced in its entirety with the
following:
“ Fee Letter ”
means each of (i) the letter agreement, dated as of
November 13, 2008 among Seller, the BofA Conduit, and BofA, as
it may be amended or modified and in effect from time to time and
(ii) the letter agreement, dated as of November 13, 2008,
among Seller, BTMU, the BTMU Conduit and BTMUNY, as it may be
amended or modified and in effect from time to time, (iii) the
letter agreement, dated as of November 13, 2008, among Seller,
the RBS Conduit and RBS, as it may be amended or modified and in
effect from time to time, (iv) the letter agreement, dated as
of May 1, 2009, among Seller, the Calyon Conduit and Calyon,
as it may be amended or modified and in effect from time to time,
and (v) any other fee letter or similar letter agreement
relating to the payment of fees to any of the Purchasers entered
into among Seller, the Purchasers party thereto and/or any agent or
agents acting on behalf of any such Purchasers, as any such fee
letter or letter agreement may be amended or modified and in effect
from time to time.
(e) The definition of “
Purchase Limit ” set forth in Exhibit I to the
Receivables Purchase Agreement is amended by replacing each
reference to the amount “$850,000,000” therein with a
reference to the amount “$950,000,000”.
(f) Each of Exhibit II ,
Exhibit XI , Schedule A and Schedule C to the
Receivables Purchase Agreement is replaced in its entirety with new
Exhibit II , Exhibit XI , Schedule A and
Schedule C , respectively, attached hereto.
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SECTION 3. Amendments to the Performance
Guaranty; Related Agreements .
(a) Amendments to the Performance
Guaranty . The Performance Guaranty is hereby amended by
replacing Section 7 thereof in its entirety with the
following:
Section 7. Financial
Covenants . Until the Obligations are paid in full, the
Performance Guarantor covenants to the Beneficiary that the
Performance Guarantor will not (i) permit the Consolidated
Interest Coverage Ratio as of the end of any fiscal quarter of the
Performance Guarantor to be less than 4.00 to 1.00 or
(ii) permit the Consolidated Leverage Ratio at any time to be
greater than 3.25 to 1.00.
Notwithstanding anything in this
Guaranty to the contrary, for all measurement periods including the
Spin-Off Date through the end of the fourth fiscal quarter period
ending thereafter, the Consolidated Interest Coverage Ratio and the
Consolidated Leverage Ratio shall be calculated eliminating the
results of the Spin Entity and its Subsidiaries and giving
retroactive pro forma effect (i) to the Transaction and any
debt repurchases or retirements to be consummated with the proceeds
of the Special Dividend, but only to the extent that such debt
repurchases or retirements actually occur within ninety
(90) days after the Spin-off Date.
For purposes of this
Section 7 , the following terms have the following
meanings:
“ Agreement Accounting
Principles ” means generally accepted accounting
principles in the United States of America in effect from time to
time, applied in a manner consistent with that used in preparing
the Performance Guarantor’s and its Subsidiaries’
June 30, 2006 audited consolidated financial statements and
September 30, 2006 unaudited interim consolidated financial
statements; provided , however , that if any change
in Agreement Accounting Principles from those applied in preparing
such financial statements affects the calculation of any financial
covenant contained in this Guaranty, the Performance Guarantor and
the Beneficiary hereby agree to negotiate in good faith towards
making appropriate amendments to the provisions of this Guaranty to
reflect as nearly as possible the effect of the financial covenants
as in effect on May 1, 2009; provided , however
, that no such amendment to this Guaranty shall be effective
without the prior written consent of the Performance Guarantor, the
Agent and the Required Financial Institutions.
“ Bridge Indebtedness
” means Indebtedness incurred by CareFusion Corporation
and/or any other Subsidiary(ies) of the Performance Guarantor in an
aggregate amount not in excess of $2,000,000,000 the proceeds of
which (after deducting expenses) are required by the terms thereof
to be used solely to pay one or more special dividends to the
Performance Guarantor; provided that (i) neither the
Performance Guarantor nor any of its Subsidiaries (other than
CareFusion
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Corporation and its Subsidiaries)
shall guarantee such Indebtedness after the consummation of the
Spin-off or have any other liability with respect thereto and
(ii) such Indebtedness shall be unsecured until after
consummation of the Spin-off.
“ Capitalized Leases
” of a Person means any lease of Property by such Person as
lessee which would be capitalized on a balance sheet of such Person
prepared in accordance with Agreement Accounting
Principles.
“ Capitalized Lease
Obligations ” of a Person means the amount of the
obligations of such Person under Capitalized Leases which would be
shown as a liability on a balance sheet of such Person prepared in
accordance with Agreement Accounting Principles.
“ Consolidated ”
or “ consolidated ” means, when used with
reference to any financial term in this Guaranty, the aggregate for
two or more Persons of the amounts signified by such term for all
such Persons determined on a consolidated basis in accordance with
Agreement Accounting Principles.
“ Consolidated EBITDA
” means, for any period, for the Performance Guarantor and
its Subsidiaries on a consolidated basis, an amount equal to
Consolidated Net Income for such period plus (a) the
following to the extent deducted in calculating such Consolidated
Net Income: (i) Consolidated Interest Charges for such period,
(ii) the provision for federal, state, local and foreign
income taxes payable (current and deferred) by the Performance
Guarantor and its Subsidiaries for such period;
(iii) depreciation and amortization expense for such period;
(iv) non-cash share-based compensation expense for such
period; (v) impairment charges, losses on sales of assets and
acquired in-process research and development charges for such
period, to the extent each is non-cash and non-recurring;
(vi) non-recurring transaction costs incurred in connection
with the Spin-off; and (vii) other non-recurring expenses of
the Performance Guarantor and its Subsidiaries reducing such
Consolidated Net Income which do not represent a cash item in such
period or any future period and minus (b) the following
to the extent included in calculating such Consolidated Net Income:
(i) federal, state, local and foreign income tax benefit
(current and deferred) of the Performance Guarantor and its
Subsidiaries for such period; (ii) non-cash gains on sales of
assets for such period; and (iii) all non-cash items
increasing Consolidated Net Income for such period.
“ Consolidated Funded
Indebtedness ” means, as of any date of determination,
for the Performance Guarantor and its Subsidiaries on a
consolidated basis, the sum of (a) the outstanding principal
amount of all obligations, whether current or long-term, for
borrowed money and all obligations evidenced by bonds, debentures,
notes, loan agreements or other similar instruments, (b) all
purchase money Indebtedness, (c) all direct obligations
arising under letters of credit (including standby
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and commercial), bankers’
acceptances, bank guaranties, surety bonds and similar instruments,
(d) all obligations in respect of the deferred purchase price
of property or services (other than trade accounts payable arising
in the ordinary course of business), (e) Capitalized Lease
Obligations, (f) without duplication, all Contingent
Obligations with respect to outstanding Indebtedness of the types
specified in clauses (a) through (e)
above of Persons other than the Performance Guarantor or any
Subsidiary thereof, and (g) all Indebtedness of the types
referred to in clauses (a) through (f)
above of any partnership or joint venture (other than a joint
venture that is itself a corporation or limited liability company)
in which the Performance Guarantor or a Subsidiary is a general
partner or joint venturer, unless such Indebtedness is expressly
made non-recourse to the Performance Guarantor or such
Subsidiary.
“ Consolidated Interest
Charges ” means, for any period, for the Performance
Guarantor and its Subsidiaries on a consolidated basis, the sum of
(a) all interest, premium payments, debt discount, fees,
charges and related expenses of the Performance Guarantor and its
Subsidiaries in connection with borrowed money (including
capitalized interest) or in connection with the deferred purchase
price of assets, in each case to the extent treated as interest in
accordance with Agreement Accounting Principles, and (b) the
portion of rent expense of the Performance Guarantor and its
Subsidiaries with respect to such period under Capitalized Leases
that is treated as interest in accordance with Agreement Accounting
Principles.
“ Consolidated Interest
Coverage Ratio ” means, as of any date of determination,
the ratio of (a) Consolidated EBITDA for the period of the
four prior fiscal quarters ending on such date to
(b) Consolidated Interest Charges for such period.
“ Consolidated Leverage
Ratio ” means, as of any date of determination, the ratio
of (a) the sum of (i) Consolidated Funded Indebtedness as
of such date plus (ii) Securitization Obligations as of
such date to (b) Consolidated EBITDA for the period of
the four fiscal quarters most recently ended.
“ Consolidated Net
Income ” means, for any period, for the Performance
Guarantor and its Subsidiaries on a consolidated basis and in
accordance with Agreement Accounting Principles, the net income of
the Performance Guarantor and its Subsidiaries (excluding
extraordinary gains and extraordinary losses) for that
period.
“ Contingent
Obligations ” of a Person means any agreement,
undertaking or arrangement by which such Person assumes,
guarantees, endorses, contingently agrees to purchase or provide
funds for the payment of, or otherwise becomes or is contingently
liable upon, the obligation or liability of any other Person for
Indebtedness, or agrees to maintain the net
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worth or working capital or other
financial condition of any other Person, or otherwise assures any
creditor of such other Person against loss, including, without
limitation, any comfort letter, operating agreement, take-or-pay
contract, operating lease, securitization transaction or the
obligations of any such Person as general partner of a partnership
with respect to the liabilities of the partnership; provided
, however , that any assumption, guaranty, endorsement or
undertaking with respect to any liability of any of the Performance
Guarantor’s Subsidiaries to any other of its Subsidiaries
shall not be a Contingent Obligation of the Performance
Guarantor.
“ Indebtedness ”
of a Person means, as of any date, such Person’s
(i) obligations for borrowed money or evidenced by bonds,
notes, acceptances, debentures or similar instruments or letters of
credit (or reimbursement agreements in respect thereof) or
bankers’ acceptances, (ii) obligations representing the
deferred purchase price of Property or services (other than
accounts payable arising in the ordinary course of such
Person’s business payable on terms customary in the trade),
(iii) obligations, whether or not assumed, secured by Liens or
payable out of the proceeds or production from Property now or
hereafter owned or acquired by such Person, (iv) obligations
of such Person to purchase securities or other Property arising out
of or in connection with the sale of the same or substantially
similar securities or Property, (v) Capitalized Lease
Obligations, (vi) any other obligation for borrowed money or
other financial accommodation which in accordance with Agreement
Accounting Principles would be shown as a liability on the
consolidated balance sheet of such Person, (vii) any Rate
Hedging Obligations of such Person, and (viii) all Contingent
Obligations of such Person with respect to or relating to the
indebtedness, obligations and liabilities of others as described in
clauses (i) through (vii) of this
definition.
“ Lien ” means
any lien (statutory or otherwise), mortgage, pledge, hypothecation,
assignment, deposit arrangement, encumbrance, preference, priority
or other security agreement or preferential arrangement of any kind
or nature whatsoever (including, without limitation, the interest
of a vendor or lessor under any conditional sale, Capitalized Lease
or other title retention agreement).
“ Property ” of a
Person means any and all property, whether real, personal,
tangible, intangible, or mixed, of such Person, or other assets
owned or leased by such Person.
“ Rate Hedging
Agreement ” means an agreement, device or arrangement
providing for payments which are related to fluctuations of
interest rates, exchange rates, commodity prices or forward rates,
including, but not limited to, dollar-denominated or cross-currency
interest rate agreements, forward currency exchange agreements,
interest rate cap or collar
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protection agreements, forward rate
currency or interest rate options, puts and warrants.
“ Rate Hedging
Obligations ” of a Person means any and all obligations
of such Person, whether absolute or contingent and however and
whenever created, arising, evidenced or acquired (including all
renewals, extensions and modifications thereto and substitutions
therefor), under (a) any and all Rate Hedging Agreements, and
(b) any and all cancellations, buy backs, reversals,
terminations or assignments of any Rate Hedging
Agreement.
“ Securitization
Obligations ” means, as of any date of determination, the
outstanding principal amount of all obligations evidenced by bonds,
notes or similar instruments by any issuing entity established by
or related to the Performance Guarantor or any of its Subsidiaries
in connection with any account receivables sale or securitization
transaction entered into by the Performance Guarantor or any of its
Subsidiaries (including, without limitation, the transactions
contemplated by the Receivables Purchase Agreement).
“ Special Dividend
” means one or more special dividends, in an aggregate amount
of not less than $1,000,000,000, paid to the Performance Guarantor
by the Spin Entity prior to the consummation of the
Spin-off.
“ Spin Entity ”
means CareFusion Corporation, a wholly-owned Subsidiary of the
Performance Guarantor, together with any other Subsidiary(ies) of
the Performance Guarantor that incurs Bridge
Indebtedness.
“ Spin-off ”
means the separation of the Spin Entity from the Performance
Guarantor, which separation will be achieved by a distribution of
at least a majority of the outstanding equity interests in
CareFusion Corporation to the existing shareholders of the
Performance Guarantor and 100% of the equity interests of any other
entity that incurs Bridge Indebtedness being owned, directly or
indirectly, by CareFusion Corporation at the time of such
separation.
“ Spin-off Date ”
means the date on which the Performance Guarantor consummates the
Spin-off.
(b) Consent to Amendments .
The Agent and the Managing Agents hereby consent to the amendments
set forth in this Section 3 .
(c) Reaffirmation of Performance
Guaranty . The Performance Guarantor hereby reaffirms its
obligations under the Performance Guaranty (as amended hereby) and
each other Transaction Document to which it is a party and confirms
that its obligations under
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each of the foregoing continue in full force and
effect with respect to the Receivables Purchase Agreement (as
amended hereby) and each other Transaction Document to which it is
a party.
(d) Additional Covenants of the
Performance Guarantor . Promptly after the same are available
(but in any event on or before the date on which the Performance
Guarantor consummates the Spin-off), the Performance Guarantor
shall furnish, or shall have furnished, to the Agent, with
sufficient copies for the Managing Agents: (a) resolutions of
the Board of Directors of the Performance Guarantor authorizing the
Spin-off as certified by the Secretary or Assistant Secretary of
the Performance Guarantor, (b) evidence as to the consummation
of the Spin-off, such evidence to be in form and substance
reasonably satisfactory to the Agent and the Performance Guarantor
and (c) upon the request of the Agent, such further
instruments, documents and certificates with respect to the
Spin-off that may be necessary or advisable in the reasonable
opinion of the Agent in order for the Conduits, the Financial
Institutions, the Managing Agents and the Agent to comply with all
applicable regulatory requirements.
SECTION 4. Representations and
Warranties .
On the date hereof, each Seller
Party and the Performance Guarantor hereby represents and warrants
(as to itself) to the Purchasers, the Managing Agents, the Agent
and, in the case of the representations and warranties made by the
Performance Guarantor, the Seller that:
(a) after giving effect to this
Amendment, no event or condition has occurred and is continuing
which constitutes an Amortization Event or Potential Amortization
Event;
(b) after giving effect to this
Amendment, the representations and warranties of such Person set
forth in the Receivables Purchase Agreement and each other
Transaction Document are true and correct as of the date hereof, as
though made on and as of such date (except to the extent such
representations and warranties relate solely to an earlier date and
then as of such earlier date); and
(c) this Amendment constitutes the
valid and binding obligation of such Person, enforceable against
such Person in accordance with its terms.
SECTION 5. Amendment Fee
.
In connection with the execution and
delivery of this Amendment, the Seller shall pay or cause to be
paid, on or prior to the date hereof, to each Financial Institution
(other than Calyon) an amendment fee (the “ Amendment
Fee ”) in an amount, in each case, equal to 0.05% of such
Financial Institution’s Commitment as of the date hereof,
which Amendment Fee (i) shall be paid by wire transfer of
immediately available funds to the accounts specified for such
Financial Institution in Schedule A to the Receivables
Purchase Agreement (as amended hereby) and (ii) is
non-refundable, is fully earned on the date hereof and is in
addition to (and not in substitution for) any other amounts payable
by the Seller or any other Person under the Transaction
Documents.
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SECTION 6. Conditions to Effectiveness
.
This Amendment shall become
effective as of the date hereof (subject to Section 7
below) upon satisfaction of all the following conditions
precedent:
(a) receipt by the Agent of
counterparts of this Amendment, duly executed by each of the
parties hereto;
(b) receipt by Calyon of
counterparts to the Fee Letter for Atlantic’s Purchaser Group
being entered into as of the date hereof, duly executed by each of
the parties thereto;
(c) receipt by each Financial
Institution (other than Calyon) of such Financial
Institution’s Amendment Fee paid in full in accordance with
Section 5 above;
(d) receipt by Calyon of the
“Up-Front Fee” paid under and in accordance with the
Fee Letter described in clause (b) above;
(e) receipt by Calyon an