Exhibit 10.1
AMENDMENT NO. 1
to
AMENDED AND RESTATED FIVE-YEAR
REVOLVING CREDIT AGREEMENT
THIS AMENDMENT NO. 1 TO AMENDED AND
RESTATED FIVE-YEAR REVOLVING CREDIT AGREEMENT (the “
Amendment ”) is made as of November 10, 2006 (the
“ Effective Date ”), by and among UNITED
STATIONERS SUPPLY CO. (the “ Borrower ”), UNITED
STATIONERS INC., as a credit party (the “ Parent
”), the financial institutions listed on the signature pages
hereof (the “ Lenders ”) and JPMORGAN CHASE
BANK, NATIONAL ASSOCIATION (successor by merger to Bank One, NA
(Illinois)), in its capacity as administrative agent (the “
Agent ”) under that certain Amended and Restated
Five-Year Revolving Credit Agreement dated as of October 12, 2005
by and among the Borrower, the Parent, the financial institutions
party thereto and the Agent (as amended, supplemented or otherwise
modified as of the date hereof, the “ Credit Agreement
”). Defined terms used herein and not otherwise defined
herein shall have the meaning given to them in the Credit
Agreement.
WITNESSETH
WHEREAS, the Borrower, the Parent,
the Lenders and the Agent are parties to the Credit Agreement;
and
WHEREAS, pursuant to Section
2.21 of the Credit Agreement, the Borrower has requested that
the Aggregate Commitment be increased from $275,000,000 to
$325,000,000;
WHEREAS, the Borrower, the Agent,
each Increasing Lender (as defined below) and any New Lender (as
defined below) have agreed to amend the Credit Agreement to
increase the Aggregate Commitment to $325,000,000 (the “
Commitment Increase ”), and in connection therewith
each Increasing Lender and each New Lender has agreed to extend a
Commitment in the amount set forth on Annex I hereto, in each case,
on the terms and conditions set forth herein;
WHEREAS, immediately after giving
effect to the Commitment Increase, the Borrower has requested that
the Lenders amend the Credit Agreement on the terms and conditions
set forth herein;
WHEREAS, the Borrower, the Agent and
the Required Lenders (after giving effect to the Commitment
Increase) have agreed to amend the Credit Agreement on the terms
and conditions set forth herein;
NOW, THEREFORE, in consideration of
the premises set forth above, the terms and conditions contained
herein, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto
have agreed to the following amendments to the Credit
Agreement:
1.
Increase of
Aggregate Commitment . Effective as of the
Effective Date and subject to the satisfaction of the conditions
precedent set forth in Section 3 below:
1.1.
The Commitments
of the Lenders electing to increase their respective Commitments in
accordance with Section 2.21 of the Credit Agreement (each, an
“ Increasing Lender ”) are amended as set forth
on Annex I hereto. Any new Lender signatory hereto which was
not party to the Credit Agreement prior to the date hereof (each, a
“ New Lender ”) shall be deemed to be a Lender
for all purposes under the Credit Agreement and each such New
Lender’s Commitment is set forth on Annex I
hereto.
1.2.
Each Increasing
Lender and New Lender shall make available to the Agent such
amounts in immediately available funds as the Agent shall
determine, for the benefit of the other Lenders, as being required
in order to cause, after giving effect to the Commitment Increase
and the use of such amounts to make payments to such other Lenders,
each Lender’s portion of the outstanding Revolving Loans of
all the Lenders to equal its Pro Rata Share. The Borrower
shall be deemed to have repaid and reborrowed all outstanding
Revolving Loans as of the Effective Date (with such reborrowing to
consist of the Types of Advances, with related Interest Periods if
applicable, specified in a Borrowing Notice delivered by the
Borrower in accordance with the requirements of Section 2.8).
The deemed payments made pursuant to the immediately preceding
sentence shall be accompanied by payment of all accrued interest on
the amount prepaid. In the event that any deemed payment made
pursuant to this Section 1.2 occurs other than on the last day of
the related Interest Period related to any Revolving Loan, each
Lender party hereto hereby waives any indemnification by the
Borrower pursuant to the provisions of Section 3.4 solely with
respect to any such Revolving Loan.
2.
Amendments to
the Credit Agreement . Effective as of the
Effective Date and immediately after giving effect to the
Commitment Increase and subject to the satisfaction of the
conditions precedent set forth in Section 3 below, the
Credit Agreement is hereby amended as follows:
2.1.
Section
2.21 of the Credit Agreement is
amended (i) to delete each occurrence of the phrase
“$100,000,000” now appearing therein, and to substitute
the following therefor: “$150,000,000”, and (ii)
to delete the phrase “$375,000,000” now appearing
therein, and to substitute the following therefor:
“$425,000,000”; it being understood and agreed that the
Commitment Increase shall be deemed to constitute an increase of
the Aggregate Commitment pursuant to Section 2.21 (as amended by
this Amendment) in an amount equal to $50,000,000.
2.2.
Section
6.12.4 of the Credit Agreement is
amended to delete the phrase “$275,000,000” now
appearing therein, and to substitute the following therefor:
“$350,000,000”.
2
2.3.
Section
6.14.4 of the Credit Agreement is
amended to delete the phrase “$275,000,000” now
appearing therein, and to substitute the following therefor: