6 July 2006 CONFIRMATION DEED between THE ENTITIES LISTED IN THE SCHEDULE as Obligors and CITICORP USA, INC. as Security Agent Weil, Gotshal & Manges One South Place London EC2M 2WG Tel: +44 (0) 20 7903 1000 Fax: +44 (0) 20 7903 0990
EX-10.3 4 d37715exv10w3.htm CONFIRMATION DEED exv10w3
Exhibit 10.3
6 July 2006
CONFIRMATION DEED
between
THE ENTITIES LISTED IN THE SCHEDULE
as Obligors
and
CITICORP USA, INC.
as Security Agent
Weil, Gotshal & Manges
One South Place London EC2M 2WG
Tel: +44 (0) 20 7903 1000 Fax: +44 (0) 20 7903 0990
www.weil.com
TABLE OF CONTENTS
Page | ||||||
1 | INTERPRETATION | 1 | ||||
2 | ACKNOWLEDGEMENT AND CONFIRMATIONS | 3 | ||||
3 | COSTS AND EXPENSES | 3 | ||||
4 | SERVICE OF PROCESS | 3 | ||||
5 | NOTICES | 4 | ||||
6 | COUNTERPARTS | 4 | ||||
7 | GOVERNING LAW | 4 | ||||
8 | JURISDICTION | 4 | ||||
THE SCHEDULE THE OBLIGORS | 5 | |||||
SIGNATORIES |
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THIS CONFIRMATION DEED (this Deed) is made as a deed on the 6th day of July, 2006 between the following parties:
(1) | THE ENTITIES LISTED IN THE SCHEDULE (each an Obligor and together, the Obligors); and | |
(2) | CITICORP USA, INC. acting as agent and trustee for the Secured Parties pursuant to the terms of the Security Trust Deed (together with its successors and assigns, the Security Agent). |
WHEREAS
(A) | The Secured Parties entered into the Credit Agreement (as defined below) pursuant to which loans and other extensions of credit were made available to the borrowers party thereto. | |
(B) | The Obligors granted guarantees and liens in favour of the Secured Parties in respect of the obligations of certain loan parties under the Credit Agreement and the other Loan Documents. | |
(C) | The Lenders party to the Credit Agreement Amendment (as defined below) are willing to make available to the borrowers party thereto certain term loans under the First Securities Repurchase Increase (as defined in the Credit Agreement Amendment) upon the terms and subject to the conditions set forth in the Credit Agreement Amendment and in the Credit Agreement. | |
(D) | To induce the Secured Parties to enter into the Credit Agreement Amendment and to make term loans under the First Securities Repurchase Increase in the Credit Agreement Amendment, the Obligors are willing to enter into this Deed. | |
(E) | The Security Agent and the Obligors intend this Deed to, and it shall, take effect as a deed, notwithstanding the fact that the Security Agent may only execute this Deed under hand. | |
(F) | The Security Agent is holding the benefit of this Deed on trust for the Secured Parties in accordance with the terms of the Security Trust Deed. |
1 | INTERPRETATION |
1.1 Definitions In this Deed:
Assignment of Receivables means the assignment of receivables dated 20 March 2006 and made between the entities listed in Schedule 1 thereto as Assignors and the Security Agent.
Company means Affiliated Computer Services, Inc., a Delaware corporation.
Credit Agreement means the credit agreement dated 20 March 2006 and made between, inter alios, the Company, ACS Worldwide Lending Limited and certain other subsidiaries of the Company party thereto from time to time as borrowers, the Lenders and Issuers party thereto and Citicorp USA, Inc. as Administrative Agent.
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Credit Agreement Amendment means the amendment no. 2 to the Credit Agreement dated on or about the date hereof and made between, inter alios, the Company, ACS Worldwide Lending Limited, and certain other subsidiaries of the Company party thereto from time to time as borrowers and Citicorp USA, Inc. as Administrative Agent.
Deed of Assignment means the deed of assignment dated 20 March 2006 and made between the companies listed in Schedule 1 thereto as Assignors and Citicorp USA, Inc. as Security Agent.
Guarantee means the guarantee dated 20 March 2006 and made by the entities listed in Schedule 1 thereto as guarantors in favour of the Citicorp USA, Inc. as agent and trustee for the Guaranteed Parties (as defined therein).
Non-English Obligors means ACS Commercial Solutions, Inc., a Nevada Corporation and ACS State & Local Solutions, Inc., a New York Corporation; and each a Non-English Obligor.
Security Documents means the Assignment of Receivables and the Deed of Assignment.
Security Trust Deed means the security trust deed dated 20 March 2006 and made between Citicorp USA, Inc. and the Secured Parties named therein.
1.2 Interpretation
(a) | Unless expressly defined in this Deed, capitalised terms defined in the Credit Agreement have the same meanings in this Deed; | |
(b) | the expressions hereof, herein, hereunder and similar expressions shall be construed as references to this Deed as a whole (including the Schedule) and shall not be limited to the particular clause or provision in which the relevant expression appears, and references to this Deed and all like indications shall include references to this Deed as supplemented by any other agreement or instrument supplementing or amending this Deed; | |
(c) | the word including when used in this Deed means including without limitation; | |
(d) | references to a person shall be construed as a reference to any person, firm, company, corporation, government, state or agency of a state or any association or partnership (whether or not having separate legal personality) of two or more of the foregoing; | |
(e) | references to any of the Loan Documents and any other agreement or instrument shall be construed as a reference to the same as amended, varied, restated, extended, supplemented or novated from time to time (including, where relevant, by any accession agreement); | |
(f) | unless otherwise specified, references to Clauses and the Schedule are references to, respectively, clauses of and the schedule to this Deed; | |
(g) | words importing the singular shall include the plural and vice versa; |
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(h) | references (by whatever term, including by name) to the Obligors and the Security Agent shall, where relevant and subject as otherwise provided in this Deed, be deemed to be references to or to include, as appropriate, their respective successors, replacements and assigns, transferees and substitutes permitted by the terms of the relevant Loan Documents; | |
(i) | the headings in this Deed are for convenience only and shall be ignored in construing this Deed; and | |
(j) | all references to statutes and other legislation include all re-enactments and amendments of those statutes and that legislation. |
1.3 Third Party Rights A person who is not a party to this Deed has no rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this Deed.
1.4 Prevailing Agreement In the event of any conflict between the provisions of this Deed and the Credit Agreement, the provisions of the Credit Agreement shall prevail except to the extent necessary under English law to maintain the creation or perfection of security, or to preserve the Security Agents and the Secured Parties rights and remedies under this Deed.
2 | ACKNOWLEDGEMENT AND CONFIRMATIONS |
2.1 Each Obligor acknowledges that it has been provided with and has reviewed the amendments to the Credit Agreement to be effected pursuant to the Credit Agreement Amendment.
2.2 Each Obligor confirms that, notwithstanding such amendments:
(a) | its guarantee and indemnity obligations under the Guarantee remain valid and binding; and | |
(b) | each Security Document executed by it remains valid and binding and continues to secure all the Secured Obligations (as defined in each Security Document), including any increase in any amounts payable under the Credit Agreement pursuant to the amendments to be effected by the Credit Agreement Amendment. | |
3 | COSTS AND EXPENSES |
The costs and expenses provision contained in Clause 10 (Costs and Expenses) of the Guarantee shall apply, mutatis mutandis, in this Deed.
4 | SERVICE OF PROCESS |
4.1 The Security Agent and each Non-English Obligor agrees that the process by which any dispute or claim arising out of or in connection with this Deed are begun in England may be served on it by being delivered to:
Address: | The London Law Agency Limited 69 Southampton Row London WC1B 4ET | |
Fax No: | 0207 ###-###-#### | |
Attention: | Company Secretarial Department |
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4.2 If the appointment of the person mentioned in this Clause 3 (Service of Process) ceases to be effective or such person ceases for any reason to act as process agent for any Non-English Obligor, such Non-English Obligor shall immediately appoint a replacement process agent for the purposes of this Clause 3 (Service of Process) in England and shall immediately notify the Security Agent of the change in accordance with Clause 22 (Notices) of the Deed of Assignment, and failing such appointment within 10 Business Days, the Security Agent may appoint a replacement process agent to accept service of process on behalf of such Non-English Obligor by notice to such Non-English Obligor. This Clause 3 (Service of Process) does not affect the right to serve process in any other manner permitted by law.
5 | NOTICES |
5.1 Except in the case of the Non-English Obligors, the notice provisions contained in Clause 12 (Notices) of the Guarantee shall apply, mutatis mutandis, in this Deed.
5.2 For the purposes of notices to the Non-English Obligors, the notice provisions contained in Clause 22 (Notices) of the Deed of Assignment shall apply, mutatis mutandis, in this Deed.
6 | COUNTERPARTS |
This Deed may be executed in any number of counterparts, each of which when executed and delivered constitutes an original of this Deed, but all the counterparts shall together constitute one and the same agreement.
7 | GOVERNING LAW |
This Deed shall be governed by and construed in accordance with the laws of England.
8 | JURISDICTION |
8.1 The courts of England have exclusive jurisdiction to settle any dispute arising out of or in connection with this Deed (including a dispute regarding the existence, validity or termination of this Deed).
8.2 The parties agree that the courts of England are the most appropriate and convenient courts to settle such disputes and accordingly no party shall argue to the contrary.
8.3 This Clause 8 (Jurisdiction) is for the benefit of the Secured Parties only. As a result, no Secured Party shall be prevented from taking proceedings relating to such a dispute in any other court with jurisdiction. To the extent allowed by law, the Secured Parties may take concurrent proceedings in any number of jurisdictions.
IN WITNESS whereof this Deed has been entered into as a deed on the date stated at the beginning.
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THE SCHEDULE
THE OBLIGORS
Registered Office/Place | Registration/Charter | |||
Assignor | of Incorporation | Number | ||
ACS Business Process | 160 Queen Victoria Street | 4022569 | ||
Solutions Limited | London | |||
EC4 4AN | ||||
ACS Holdings (UK) LLP | 12 York Place | OC316499 | ||
Leeds | ||||
LS1 2DS | ||||
ACS Worldwide Lending | 12 York Place | 05470127 | ||
Limited | Leeds | |||
LS1 2DS | ||||
Bevis Trustees Limited | 160 Queen Victoria Street | 926625 | ||
London | ||||
EC4 4AN | ||||
Buck Consultants Limited | 160 Queen Victoria Street | 1615055 | ||
London | ||||
EC4 4AN | ||||
Buck Consultants | 160 Queen Victoria Street | 1034719 | ||
(Administration & Investment) | London | |||
Limited | EC4 4AN | |||
Buck Consultants (Healthcare) | 160 Queen Victoria Street | 172919 | ||
Limited | London | |||
EC4 4AN | ||||
Buckingham Trustees Limited | 160 Queen Victoria Street | 1339924 | ||
London | ||||
EC4 4AN | ||||
Talking People Limited | 160 Queen Victoria Street | 2573826 | ||
London | ||||
EC4 4AN | ||||
ACS Commercial Solutions, | Nevada | 2021-1990 | ||
Inc. | ||||
ACS State & Local | New York | No charter number | ||
Solutions, Inc. |
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SIGNATORIES
THE OBLIGORS | ||||||||
Executed as a Deed by | ) | |||||||
ACS HOLDINGS (UK) LLP | ) | |||||||
/s/ Nancy P. Vineyard | ||||||||
Signature of duly authorised representative of | ||||||||
ACS COMMERCIAL SOLUTIONS, INC. | ||||||||
a designated member of | ||||||||
ACS HOLDINGS (UK) LLP | ||||||||
Nancy P. Vineyard | ||||||||
Name of duly authorised representative | ||||||||
/s/ Nancy P. Vineyard | ||||||||
Signature of duly authorised representative of | ||||||||
ACS STATE & LOCAL SOLUTIONS, INC. | ||||||||
a designated member of | ||||||||
ACS HOLDINGS (UK) LLP | ||||||||
Nancy P. Vineyard | ||||||||
Name of duly authorised representative | ||||||||
Executed as a Deed by | ) | |||||||
ACS BUSINESS PROCESS | ) | |||||||
SOLUTIONS LIMITED | ) |
/s/ Brian Stones | Signature of director | /s/ Ramesh Touraney | Signature of | |||
director/secretary | ||||||
Brian Stones | Name of director | Ramesh Touraney | Name of | |||
director/secretary |
Executed as a Deed by | ) | |
ACS WORLDWIDE LENDING | ) | |
LIMITED | ) |
/s/ David Selzer | Signature of director | /s/ William L. Deckelman, Jr. | Signature of | |||
secretary | ||||||
David Selzer | Name of director | William L. Deckelman, Jr. | Name of secretary | |||
Confirmation Deed Signature Page
Executed as a Deed by | ) | |
BEVIS TRUSTEES LIMITED | ) |
/s/ Kevin Legrand | Signature of director | /s/ Jerry Mitchell | Signature of | |||
director/secretary | ||||||
Kevin Legrand | Name of director | Jerry Mitchell | Name of | |||
director/secretary |
Executed as a Deed by | ) | |
BUCK CONSULTANTS | ) | |
LIMITED | ) |
/s/ Edward OHara | Signature of director | /s/ Jerry Mitchell | Signature of | |||
director/secretary | ||||||
Edward OHara | Name of director | Jerry Mitchell | Name of | |||
director/secretary |
Executed as a Deed by | ) | |
BUCK CONSULTANTS | ) | |
(ADMINISTRATION & | ) | |
INVESTMENT) LIMITED | ) |
/s/ Edward OHara | Signature of director | /s/ Jerry Mitchell | Signature of | |||
director/secretary | ||||||
Edward OHara | Name of director | Jerry Mitchell | Name of | |||
director/secretary |
Executed as a Deed by | ) | |
BUCK CONSULTANTS | ) | |
(HEALTHCARE) LIMITED | ) |
/s/ Edward OHara | Signature of director | /s/ Jerry Mitchell | Signature of | |||
director/secretary | ||||||
Edward OHara | Name of director | Jerry Mitchell | Name of | |||
director/secretary |
Confirmation Deed Signature Page
Executed as a Deed by | ) | |
BUCKINGHAM TRUSTEES | ) | |
LIMITED | ) |
/s/ Kevin Legrand | Signature of director | /s/ Jerry Mitchell | Signature of | |||
director/secretary | ||||||
Kevin Legrand | Name of director | Jerry Mitchell | Name of | |||
director/secretary |
Executed as a Deed by | ) | |
TALKING PEOPLE LIMITED | ) |
/s/ Edward OHara | Signature of director | /s/ Jerry Mitchell | Signature of | |||
director/secretary | ||||||
Edward OHara | Name of director | Jerry Mitchell | Name of | |||
director/secretary |
Confirmation Deed Signature Page
THE SECURITY AGENT | ||||
CITICORP USA, INC. | ||||
By: | /s/ David Wirdnam | |||
Name: David Wirdnam | ||||
Title: Director and Vice President |
Confirmation Deed Signature Page