Three Months Ended

EX-4.1 2 w71525exv4w1.htm EXHIBIT 4.1 exv4w1
Exhibit 4.1
SECOND AMENDMENT TO CREDIT AGREEMENT
     This SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is entered into as of April 2, 2008 among AIRGAS, INC., a Delaware corporation (“Airgas” and also a “Borrower”), AIRGAS CANADA INC., a Canada corporation, and RED-D-ARC LIMITED, an Ontario corporation (each a “Canadian Borrower” and together with Airgas, the “Borrowers”), the Guarantors signatory hereto, the Lenders signatory hereto BANK OF AMERICA, N.A., as administrative agent for the Lenders (in such capacity, the “U.S. Agent”) and THE BANK OF NOVA SCOTIA, as Canadian administrative agent for the Lenders (in such capacity, the “Canadian Agent”). Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Credit Agreement (as defined below).
RECITALS
     WHEREAS, the Borrowers, the Guarantors, the Lenders and the Agents are parties to that certain Credit Agreement dated as of July 25, 2006 (as previously amended, the “Credit Agreement”).
     WHEREAS, the Required Lenders have agreed to amend certain terms of the Credit Agreement on the terms, and subject to the conditions, set forth below.
     NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
AGREEMENT
     1. Amendment to Credit Agreement. Section 8.5(m) of the Credit Agreement is amended to read as follows:
     (m) other Investments not constituting Restricted Payments and not listed above in an aggregate amount not to exceed $50,000,000
     2. Effectiveness; Conditions Precedent. This Amendment shall become effective upon receipt by the Agents of copies of this Amendment duly executed by the Credit Parties and the Required Lenders.
     3. Construction. This Amendment is a Credit Document executed pursuant to the Credit Agreement and shall (unless otherwise expressly indicated therein) be construed, administered and applied in accordance with the terms and provisions of the Credit Agreement.
     4. Representations and Warranties. Each Credit Party hereby represents and warrants that (i) each Credit Party that is party to this Amendment: (a) has the requisite corporate power and authority to execute, deliver and perform this Amendment, as applicable and (b) is duly authorized to, and has been authorized by all necessary corporate action, to execute, deliver and perform this Amendment, (ii) the representations and warranties contained in Article VI of the Credit Agreement are true and correct in all material respects on and as of the date hereof upon giving effect to this Amendment as though made on and as of such date (except for those which expressly relate to an earlier date) and (iii) no Default or Event of Default exists under the Credit Agreement on and as of the date hereof upon giving effect to this Amendment.

 


 

     5. Acknowledgment. The Guarantors acknowledge and consent to all of the terms and conditions of this Amendment and agree that this Amendment does not operate to reduce or discharge the Guarantors’ obligations under the Credit Agreement or the other Credit Documents. The Guarantors further acknowledge and agree that the Guarantors have no claims, counterclaims, offsets, or defenses to the Credit Documents and the performance of the Guarantors’ obligations thereunder or if the Guarantors did have any such claims, counterclaims, offsets or defenses to the Credit Documents or any transaction related to the Credit Documents, the same are hereby waived, relinquished and released in consideration of the Lenders’ execution and delivery of this Amendment.
     6. Counterparts. This Amendment may be executed by the parties hereto in several counterparts, each of which shall be deemed to be an original and all of which shall constitute together but one and the same agreement.
     7. Binding Effect. This Amendment, the Credit Agreement and the other Credit Documents embody the entire agreement between the parties and supersede all prior agreements and understandings, if any, relating to the subject matter hereof. These Credit Documents represent the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements of the parties. Except as expressly modified and amended in this Amendment, all the terms, provisions and conditions of the Credit Documents shall remain unchanged and shall continue in full force and effect.
     8. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
     9. Severability. If any provision of this Amendment is determined to be illegal, invalid or unenforceable, such provision shall be fully severable and the remaining provisions shall remain in full force and effect and shall be construed without giving effect to the illegal, invalid or unenforceable provisions.
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     IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Amendment to be duly executed and delivered and this Amendment shall be effective as of the date first above written.
         
BORROWERS:   AIRGAS, INC.
 
       
 
  By:   /s/ Joseph C. Sullivan
 
       
 
  Name:   Joseph C. Sullivan
 
  Title:   Vice President
         
    AIRGAS CANADA INC.
 
       
 
  By:   /s/ Thomas M. Smyth
 
       
 
  Name:   Thomas M. Smyth
 
  Title:   Vice President
         
    RED-D-ARC LIMITED
 
 
  By:   /s/Thomas M. Smyth
 
       
 
  Name:   Thomas M. Smyth
 
  Title:   Vice President

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U.S. SUBSIDIARY
       
GUARANTORS:   AIRGAS-EAST, INC.
AIRGAS-GREAT LAKES, INC.
AIRGAS-MID AMERICA, INC.
AIRGAS-NORTH CENTRAL, INC.
AIRGAS-SOUTH, INC.
AIRGAS-GULF STATES, INC.
AIRGAS-INTERMOUNTAIN, INC.
AIRGAS-MID SOUTH, INC.
AIRGAS-NORPAC, INC.
AIRGAS-NORTHERN CALIFORNIA & NEVADA, INC.
AIRGAS-SOUTHWEST, INC.
AIRGAS-WEST, INC.
AIRGAS-SAFETY, INC.
AIRGAS CARBONIC, INC.
AIRGAS SPECIALTY GASES, INC.
NITROUS OXIDE CORP.
RED-D-ARC, INC.
AIRGAS DATA, LLC
AIRGAS GASPRO, INC.
MISSOURI RIVER HOLDINGS, INC.
AIRGAS INVESTMENTS, INC.
AIRGAS SPECIALTY PRODUCTS, INC.
CO2 DIRECT, INC.
WORLDWIDE WELDING, INC.,
AIRGAS MERCHANT HOLDINGS, INC.
AIRGAS MERCHANT GASES, LLC,
 
       
 
  By:   /s/Thomas M. Smyth
 
       
 
  Name:   Thomas M. Smyth
 
  Title:   Vice President
 
       
CANADIAN SUBSIDIARY
       
GUARANTORS:   AIRGAS, S.A. DE C.V.
    RED-D-ARC, S.A. DE C.V.
    AIRGAS WEST, S.A. DE C.V.
 
       
 
  By:   /s/ Joseph C. Sullivan
 
       
 
  Name:   Joseph C. Sullivan
 
  Title:   Vice President

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U.S. AGENT:   BANK OF AMERICA, N.A.,
 
       
 
  By:   /s/ Edwin B. Cox, Jr.
 
       
 
  Name:   Edwin B. Cox, Jr.
 
  Title:   Senior Vice President

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CANADIAN AGENT:   THE BANK OF NOVA SCOTIA
 
       
 
  By:   /s/ James J. Rhee
 
       
 
  Name:   James J. Rhee
 
  Title:   Director

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LENDERS:   BANK OF AMERICA, N.A.
 
       
 
  By:   /s/ Edwin B. Cox, Jr.
 
       
 
  Name:   Edwin B. Cox, Jr.
 
  Title:   Senior Vice President
 
       
    BANK OF AMERICA, N.A. (CANADA BRANCH)
 
       
 
  By:   /s/ Medina Sales de Andrade
 
       
 
  Name:   Medina Sales de Andrade
 
  Title:   Vice President

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    THE BANK OF NEW YORK
 
       
 
  By:   /s/ William M. Feathers
 
       
 
  Name:   William M. Feathers
 
  Title:   Vice President

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  THE BANK OF TOKYO-MITSUBISHI
UFJ, LTD., NY BRANCH
 
 
  By:   /s/ Maria Ferradas    
  Name:     Maria Ferradas   
  Title:     Authorized Signatory   

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  CITIZENS BANK
 
 
  By:   /s/ Devon Starks    
  Name:     Devon Starks   
  Title:     Senior Vice President   
 

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  JPMORGAN CHASE BANK , N.A.
 
 
  By:   /s/ James A. Knight    
  Name:     James A. Knight   
  Title:     Vice President   
 

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  WACHOVIA BANK, N.A.
 
 
  By:   /s/ Anne Sheahan    
  Name:     Anne Sheahan   
  Title:     Vice President   
 

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  PNC BANK NA
 
 
  By:   /s/Meredith Jermann    
  Name:     Meredith Jermann   
  Title:     Vice President   
 

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  THE BANK OF NOVA SCOTIA
 
 
  By:   /s/ Todd S. Meller    
  Name:     Todd S. Meller   
  Title:     Managing Director   
 

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  MELLON BANK, N.A.
 
 
  By:   /s/ William M. Feathers    
  Name:     William M. Feathers   
  Title:     Vice President   
 

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  BANK OF HAWAII
 
 
  By:   /s/ Steven Nakahara    
  Name:     Steven Nakahara   
  Title:     Vice President   
 

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  CALYON, NEW YORK BRANCH
 
 
  By:   /s/ Yuri Muzichenko    
  Name:     Yuri Muzichenko   
  Title:     Director   
 
         
     
  By:   /s/ Pascale Arnaud    
  Name:     Pascale Arnaud   
  Title:     Managing Director   

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  SUMITOMO MITSUI BANKING CORP.,
NEW YORK
 
 
  By:   /s/ Yoshihiro Hyakutome    
  Name:     Yoshihiro Hyakutome   
  Title:     General Manager   

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  BRANCH BANKING AND TRUST CO.
 
 
  By:   /s/ Troy R. Weaver    
  Name:     Troy R. Weaver   
  Title:     Senior Vice President   
 

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  BANK LEUMI USA
 
 
  By:   /s/ Joung Hee Hong    
  Name:     Joung Hee Hong   
  Title:     First Vice President   
 

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  BARCLAYS BANK PLC
 
 
  By:   /s/Nicholas A. Bell    
  Name:     Nicholas A. Bell   
  Title:     Director   
 

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  SUNTRUST BANK
 
 
  By:   /s/ Mark A. Flatin    
  Name:     Mark A. Flatin   
  Title:     Managing Director   
 

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  BAYERISCHE LANDESBANK,
NEW YORK BRANCH
 
 
  By:   /s/ Stuart Schulman    
  Name:     Stuart Schulman   
  Title:     Senior Vice President   
 
         
     
  By:   /s/ Georgina Fiordalisi, CFA    
  Name:     Georgina Fiordalisi   
  Title:     Vice President   
 
         

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  FIFTH THIRD BANK
 
 
  By:   /s/ Mike Mendenhall    
  Name:     Mike Mendenhall   
  Title:     Vice President   

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  HSBC BANK USA, NATIONAL ASSOCIATION
 
 
  By:   /s/ Colleen Glackin    
  Name:     Colleen Glackin   
  Title:     Vice President   
 

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  US BANK, NATIONAL ASSOCIATION
 
 
  By:   /s/ W. C. Parelli    
  Name:     W. C. Parelli   
  Title:     Senior Vice President   
 

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  COMERICA BANK
 
 
  By:   /s/ Liesl Eckhardt    
  Name:     Liesl Eckhardt   
  Title:     Assistant Vice President   
 

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  PEOPLE’S BANK
 
 
  By:   /s/ George F. Paik    
  Name:     George F. Paik   
  Title:     Vice President   
 

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