Amendment No. 2 to Amended and Restated Credit Agreement among Windmere-Durable Holdings, Inc., Subsidiaries, Lenders, and NationsBank
Summary
This agreement is the second amendment to a previously amended and restated credit agreement between Windmere-Durable Holdings, Inc., its subsidiaries, several lenders, and NationsBank as agent. The amendment modifies a specific section regarding liens securing certain types of indebtedness, particularly for foreign subsidiaries. All other terms of the original credit agreement remain in effect. The amendment is effective as of April 29, 1999, and is binding upon all signatory parties.
EX-10.2 4 g65027ex10-2.txt AMD #2 TO AMD & RESTD CREDIT AGRMT 12/29/98 1 EXHIBIT 10.2 AMENDMENT NO. 2 TO AMENDED AND RESTATED CREDIT AGREEMENT THIS AMENDMENT NO. 2 TO AMENDED AND RESTATED CREDIT AGREEMENT (this "Agreement") is made and entered into as of this 29th day of April, 1999 by and between WINDMERE-DURABLE HOLDINGS, INC., a Florida corporation (the "Borrower"), EACH OF THE SUBSIDIARIES OF THE BORROWER SIGNATORY HERETO (collectively, the "Guarantors"), the LENDERS SIGNATORY HERETO (the "Lenders") and NATIONSBANK, NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States, in its capacity as agent for the Lenders (the "Agent"). W I T N E S S E T H: WHEREAS, the Borrower, the Agent and the Lenders have entered into an Amended and Restated Credit Agreement dated as of August 7, 1998, as amended pursuant to that certain Amendment No. 1 to Amended and Restated Credit Agreement dated as of December 29, 1998 (as amended hereby and as from time to time further amended, supplemented or replaced, the "Credit Agreement"); WHEREAS, the Borrower, the Agent and the Lenders have agreed to amend certain provisions contained in the Credit Agreement; NOW, THEREFORE, in consideration of the mutual covenants, promises and conditions herein set forth, it is hereby agreed as follows: 1. DEFINITIONS. The term "Credit Agreement" as used herein and in the Credit Agreement and the other Loan Documents shall mean the Credit Agreement as hereby amended and as from time to time further amended or modified. Unless the context otherwise requires, all capitalized terms used herein without definition shall have the respective meanings provided therefor in the Credit Agreement. 2. AMENDMENT TO CREDIT AGREEMENT. Section 10.2(g) of the Credit Agreement is hereby deleted and the following new subsection (g) is inserted in replacement thereof: (g) Liens securing Indebtedness permitted under SECTION 10.1(A), (B), (F) OR (I) hereof (subject to compliance with subsection (c) above in connection with purchase money Indebtedness); provided, however, that to the extent any such Indebtedness is incurred by any Foreign Subsidiary, the Liens securing such Indebtedness may be granted by, and may attach only to real or personal property of, the Foreign Subsidiary incurring such Indebtedness. 2 3. ENTIRE AGREEMENT. This Agreement sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof and supersedes any prior negotiations and agreements among the parties relative to such subject matter. None of the terms or conditions of this Agreement may be changed, modified, waived or canceled orally or otherwise, except by writing, signed by all the parties hereto, specifying such change, modification, waiver or cancellation of such terms or conditions, or of any proceeding or succeeding breach thereof. 4. FULL FORCE AND EFFECT OF AGREEMENT. Except as hereby specifically amended, modified or supplemented, the Credit Agreement and all of the other Loan Documents are hereby confirmed and ratified in all respects and shall remain in full force and effect according to their respective terms. 5. COUNTERPARTS. This Agreement may be executed in any number of counterparts and all the counterparts taken together shall be deemed to constitute one and the same instrument. 6. ENFORCEABILITY. Should any one or more of the provisions of this Agreement be determined to be illegal or unenforceable as to one or more of the parties hereto, all other provisions nevertheless shall remain effective and binding on the parties hereto. [Signature pages follow.] 2 3 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their duly authorized officers, all as of the day and year first above written. BORROWER: WINDMERE-DURABLE HOLDINGS, INC. By: /s/ Cindy Solovei ------------------------------- Name: Cindy Solovei ------------------------------- Title: Treasurer ------------------------------ AGENT: NATIONSBANK, NATIONAL ASSOCIATION, as Agent for the Lenders By: /s/ Andrew M. Airheart ------------------------------- Name: Andrew M. Airheart ------------------------------- Title: Senior Vice President ------------------------------ LENDERS: NATIONSBANK, NATIONAL ASSOCIATION By: /s/ Andrew M. Airheart ------------------------------- Name: Andrew M. Airheart ------------------------------- Title: Senior Vice President ------------------------------ ABN AMRO BANK N.V. By: /s/ Deborah Day Orozco ------------------------------- Name: Deborah Day Orozco ------------------------------- Title: Vice President ------------------------------ By: /s/ Boris Espinoza ------------------------------- Name: Boris Espinoza ------------------------------- Title: Officer ------------------------------ 3 4 BANK ATLANTIC By: /s/ Ana C. Bolduc ------------------------------- Name: Ana C. Bolduc ------------------------------- Title: Senior Vice President ------------------------------ BANK LEUMI LE-ISRAEL By: /s/ Joseph F. Realini ------------------------------- Name: Joseph F. Realini ------------------------------- Title: Vice President ------------------------------ SCOTIABANC INC. By: /s/ W. J. Brown ------------------------------- Name: W. J. Brown ------------------------------- Title: Managing Director ------------------------------ PARIBAS By: ------------------------------- Name: ------------------------------- Title: ------------------------------ By: ------------------------------- Name: ------------------------------- Title: ------------------------------ BARCLAYS BANK PLC By: ------------------------------- Name: ------------------------------- Title: ------------------------------ 4 5 ERSTE BANK NEW YORK By: /s/ Arcinee Hovanessian ------------------------------- Name: Arcinee Hovanessian ------------------------------- Title: Vice President ------------------------------- By: /s/ John S. Runnion --------------------------------- Name: John S. Runnion ------------------------------ Title: First Vice President ------------------------------ IMPERIAL BANK, A CALIFORNIA BANKING CORPORATION By: /s/ Ray Vadalma ------------------------------- Name: Ray Vadalma ------------------------------- Title: Senior Vice President ------------------------------ THE LONG-TERM CREDIT BANK OF JAPAN, LTD. By: /s/ Thomas N. Meyer ------------------------------- Name: Thomas N. Meyer ------------------------------- Title: Senior Vice President ------------------------------ THE MITSUBISHI TRUST AND BANKING CORPORATION By: /s/ Beatrice E. Kossodo ------------------------------- Name: Beatrice E. Kossodo ------------------------------- Title: Senior Vice President ------------------------------ NATIONAL BANK OF CANADA By: /s/ Michael Bloomenfeld ------------------------------- Name: Michael Bloomenfeld ------------------------------- Title: Vice President ------------------------------ 5 6 SUMMIT BANK By: /s/ Seiji P. Nakamura ------------------------------- Name: Seiji P. Nakamura ------------------------------- Title: Assistant Vice President ------------------------------ US TRUST By: /s/ Thomas F. Macina ------------------------------- Name: Thomas F. Macina ------------------------------- Title: Vice President ------------------------------ ALLIANCE INVESTMENT OPPORTUNITIES FUND, L.L.C. By: ALLIANCE INVESTMENT OPPORTUNITIES MANAGEMENT, L.L.C., as Managing Member By: ALLIANCE CAPITAL MANAGEMENT L.P., as Managing Member By: ALLIANCE CAPITAL MANAGEMENT CORPORATION, as General Partner By: ------------------------------- Name: ------------------------------- Title: ------------------------------ 6 7 ALLIANCE CAPITAL MANAGEMENT L.P., as Manager on behalf of ALLIANCE CAPITAL FUNDING, L.L.C. By: ALLIANCE CAPITAL MANAGEMENT CORPORATION, General Partner of Alliance Capital Management L.P. By: ------------------------------- Name: ------------------------------- Title: ------------------------------ BALANCED HIGH-YIELD FUND I LTD By: BHF-BANK AKTIENGESELLSCHAFT, acting through its New York Branch, as attorney-in-fact By: /s/ Peter Leibman ------------------------------- Name: Peter Leibman ------------------------------- Title: A.T. ------------------------------ By: /s/ Michael Pellerito ------------------------------- Name: Michael Pellerito ------------------------------- Title: A.V.P. ------------------------------ BHF-BANK AKTIENGESELLSCHAFT By: /s/ Peter Leibman ------------------------------- Name: Peter Leibman ------------------------------- Title: A.T. ------------------------------ By: /s/ Michael Pellerito ------------------------------- Name: Michael Pellerito ------------------------------- Title: A.V.P. ------------------------------ INDOSUEZ CAPITAL FUNDING III, LIMITED By: INDOSUEZ CAPITAL as Portfolio Advisor By: /s/ Melissa Marano ------------------------------- Name: Melissa Marano ------------------------------- Title: Vice President ------------------------------ 7 8 BANK AUSTRIA CREDITANSTALT CORPORATE FINANCE, INC., f.k.a. Creditanstalt Corporate Finance, Inc. By: /s/ Scott Kray ------------------------------- Name: Scott Kray ------------------------------- Title: Vice President ------------------------------ By: /s/ Thomas G. Pierce ------------------------------- Name: Thomas G. Pierce ------------------------------- Title: Senior Associate ------------------------------ NATIONSBANC MONTGOMERY SECURITIES LLC By: ------------------------------- Name: ------------------------------- Title: ------------------------------ ARES LEVERAGED INVESTMENT FUND, L.P. By: ARES Management, L.P. By: /s/ Merritt S. Hooper ------------------------------- Name: Merritt S. Hooper Title: Vice President ARES LEVERAGED INVESTMENT FUND II, L.P. By: ARES Management II, L.P. By: /s/ Merritt S. Hooper ------------------------------- Name: Merritt S. Hooper Title: Vice President 8 9 FLEET BANK, N.A. By: /s/ Thomas J. Levy ------------------------------- Name: Thomas J. Levy ------------------------------- Title: Vice President ------------------------------ FLEET BUSINESS CREDIT CORPORATION By: /s/ Wes Manus ------------------------------- Name: Wes Manus ------------------------------- Title: A.V.P. ------------------------------ CANADIAN IMPERIAL BANK OF COMMERCE By: /s/ K. Volk ------------------------------- Name: Karen Volk ------------------------------- Title: Authorized Signatory ------------------------------ 9 10 OAK MOUNTAIN LIMITED By: Alliance Capital Management, L.P., as Investment Manager By: Alliance Capital Management Corporation, as General Partner By: ------------------------------- Name: ------------------------------- Title: ------------------------------ 10 11 THE UNDERSIGNED GUARANTORS HEREBY ACKNOWLEDGE AND CONSENT TO THIS AMENDMENT OF THE CREDIT AGREEMENT AND REAFFIRM THEIR OBLIGATIONS UNDER THE FACILITY GUARANTY THIS ____ DAY OF APRIL, 1999: WINDMERE CORPORATION By: /s/ Cindy Solovei ------------------------------- Name: Cindy Solovei ------------------------------- Title: Treasurer ------------------------------ WINDMERE HOLDINGS CORPORATION By: /s/ Cindy Solovei ------------------------------- Name: Cindy Solovei ------------------------------- Title: Secretary ------------------------------ WINDMERE HOLDINGS CORPORATION II By: /s/ Cindy Solovei ------------------------------- Name: Cindy Solovei ------------------------------- Title: Secretary ------------------------------ WINDMERE FAN PRODUCTS, INC. By: /s/ Cindy Solovei ------------------------------- Name: Cindy Solovei ------------------------------- Title: Treasurer ------------------------------ JERDON PRODUCTS, INC. By: /s/ Cindy Solovei ------------------------------- Name: Cindy Solovei ------------------------------- Title: Treasurer ------------------------------ 11 12 CONSUMER PRODUCTS AMERICAS, INC. By: /s/ Cindy Solovei ------------------------------- Name: Cindy Solovei ------------------------------- Title: Secretary ------------------------------ EDI MASTERS, INC. By: /s/ Cindy Solovei ------------------------------- Name: Cindy Solovei ------------------------------- Title: Treasurer ------------------------------ WINDMERE INNOVATIVE PET PRODUCTS, INC. By: /s/ Cindy Solovei ------------------------------- Name: Cindy Solovei ------------------------------- Title: Treasurer ------------------------------ BAY BOOKS & TAPES, INC. By: By: /s/ Cindy Solovei ------------------------------- Name: Cindy Solovei ------------------------------- Title: Secretary ------------------------------ FORTUNE PRODUCTS, INC. By: /s/ Cindy Solovei ------------------------------- Name: Cindy Solovei ------------------------------- Title: Secretary ------------------------------ HOUSEHOLD PRODUCTS, INC. By: /s/ Cindy Solovei ------------------------------- Name: Cindy Solovei ------------------------------- Title: Treasurer ------------------------------ 12 13 HP DELAWARE, INC. By: /s/ Cindy Solovei ------------------------------- Name: Cindy Solovei ------------------------------- Title: Treasurer ------------------------------ HP AMERICAS, INC. By: /s/ Cindy Solovei ------------------------------- Name: Cindy Solovei ------------------------------- Title: Treasurer ------------------------------ HPG LLC By: /s/ Cindy Solovei ------------------------------- Name: Cindy Solovei ------------------------------- Title: Treasurer ------------------------------ HP INTELLECTUAL CORP By: /s/ Cindy Solovei ------------------------------- Name: Cindy Solovei ------------------------------- Title: Treasurer ------------------------------ WD DELAWARE, INC. By: /s/ Cindy Solovei ------------------------------- Name: Cindy Solovei ------------------------------- Title: Secretary ------------------------------ WD DELAWARE II, INC. By: /s/ Cindy Solovei ------------------------------- Name: Cindy Solovei ------------------------------- Title: Secretary ------------------------------ 13
