W I T N E S S E T H :

EX-10.1 3 dex101.htm SEVENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT Seventh Amendment to Amended and Restated Credit Agreement

Exhibit 10.1

EXECUTION COPY 

                    SEVENTH AMENDMENT, dated as of June 26, 2003 (this “Seventh Amendment”) to the Amended and Restated Credit Agreement, dated as of July 23, 1998 and as amended and restated as of August 28, 1998, and as amended by the First Amendment, dated as of March 10, 1999, the Second Amendment, dated as of March 22, 2000, the Third Amendment, dated as of October 10, 2000, the Fourth Amendment, dated as of February 13, 2001, the Fifth Amendment, dated as of December 31, 2001 and the Sixth Amendment, dated as of June 28, 2002 (as amended, supplemented or otherwise modified prior to the Petition Date, the “Credit Agreement”) among  (i) DDi Capital Corp., formerly known as Details Capital Corp. (the “Company”); (ii) Dynamic Details, Incorporated, formerly known as Details, Inc. (“Details”); (iii) Dynamic Details Incorporated, Silicon Valley, formerly known as Dynamic Circuits, Inc. (“DDISV”, and collectively with Details, the “Borrowers”); (iv) the several banks and other financial institutions from time to time parties thereto, (individually, a “Lender,” and collectively, the “Lenders”); (v) Bankers Trust Company, as documentation and co-syndication agent; and (vi) JPMorgan Chase Bank, as collateral, co-syndication and administrative agent (in such capacity, the “Administrative Agent”), and all collateral and ancillary documentation executed by any Lender or any Affiliate of Any Lender in connection therewith, including, without limitation, the hedge agreement (the “Hedge Agreement”) entered into by Details with JPMorgan Chase Bank (collectively, the “Loan Documents”).  Terms defined in the Credit Agreement shall be used in this Seventh Amendment with their defined meanings unless otherwise defined herein.

W I T N E S S E T H :

                    WHEREAS, pursuant to the Loan Documents the Lenders have agreed to make, and have made, certain Loans to the Borrowers;

                    WHEREAS, the Company and the Borrowers have requested that the Lenders amend, and the Lenders have agreed to amend, certain of the provisions of the Credit Agreement, but only upon the terms and subject to the conditions set forth below;

                    NOW, THEREFORE, the parties hereto hereby agree as follows:

                    1.   Amendment to Section 1.1.  Section 1.1 of the Credit Agreement is hereby amended by adding the following new definitions in the proper alphabetical order: 

 

Extended Amortization Date” shall mean the date that is the earliest to occur of (x) July 11, 2003, which date shall automatically be extended to August 1, 2003 if the termination date of each of the confidentiality agreements executed by (1) Argent Financial Group, (2) Cohanzick Management, LLC, (3) Providence Capital LLC, (4) Stutman, Treister, & Glatt Professional Corporation, (5) Symphony Asset Management, (6) Tablerock Fund Management, LLC, and (7) U.S. Bank, N.A. is extended beyond July 31, 2003 in a manner reasonably satisfactory to the Administrative Agent; or (y) the occurrence of an Event of Default under Section 8(f) (other than 8(f)(iv) or (v)) of the Credit Agreement.

 

 

 

Seventh Amendment”:  the Seventh Amendment, dated as of June 26, 2003, to this Agreement.

 

 

 

Seventh Amendment Effective Date”:  the Seventh Amendment Effective Date under the Seventh Amendment to this Agreement (which date is as of June 26, 2003).

                    2.   Amendment to Section 2.3.  Each of subsections 2.3(a) and (b) of the Credit Agreement is hereby amended by deleting “June 30, 2003” where it appears therein, respectively, and substituting in lieu thereof “Extended Amortization Date”. 


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                    3.   Amount of Obligations.  Each of the Borrowers and the Company jointly and severally acknowledges and agrees that, on and as of the Seventh Amendment Effective Date, the Obligations include, without limitation, the aggregate amount of $ 72,892,916.17 in respect of face amount of undrawn Letters of Credit and outstanding unpaid principal Obligations under the Loan Documents.

                    4.   Acknowledgment of Events of Default.  Each of the Borrowers and the Company jointly and severally hereby acknowledges that (a) the Existing Events of Default set forth on Schedule 1 hereto (the “Existing Events of Default”) have occurred and continue to exist as of the Seventh Amendment Effective Date, and each of the Borrowers and the Company represent and warrant to the Administrative Agent and the Lenders that no other Event of Default has occurred and continues to exist as of the Seventh Amendment Effective Date, and (b) the occurrence and continuance of the Existing Events of Default entitle the Administrative Agent and the Lenders to at any time exercise all of their rights and remedies and to commence enforcement and collection actions under the Credit Agreement and the other Loan Documents and applicable law.

                    5.   The Collateral.  Each Grantor jointly and severally ratifies and reaffirms the validity and enforceability (without defense, counterclaim or offset of any kind) of the liens and security interests granted to secure all of the Obligations (as defined in the Guarantee and Collateral Agreement) of such Grantor to the Administrative Agent, for the benefit of the Lenders, pursuant to the Guarantee and Collateral Agreement.  Each Grantor jointly and severally acknowledges and agrees that all such liens and security interests granted by such Grantor shall continue to secure the Obligations (as defined in the Guarantee and Collateral Agreement) from and after the Seventh Amendment Effective Date.  Each Grantor jointly and severally hereby represents and warrants to the Administrative Agent and the Lenders that pursuant to the Guarantee and Collateral Agreement, the Obligations (as defined in the Guarantee and Collateral Agreement) are secured by liens on and security interest in all of such Grantor’s assets.

                    6.   Validity of Obligations.  Each of the Borrowers and the Company jointly and severally acknowledges and agrees that (i) each of the Borrowers is truly and justly indebted to the Lenders and the Administrative Agent for the Obligations, without defense, counterclaim or offset of any kind, and each Borrower ratifies and reaffirms the validity, enforceability and binding nature of such Obligations, (ii) neither Borrower has any claim, right or cause of action of any kind against any Lender, the Administrative Agent or any of such Lender’s or the Administrative Agent’s present or former subsidiaries, Affiliates, officers, directors, employees, attorneys or other representatives or agents (collectively with their respective successors and assigns, the “Lender Parties”) in connection with the Obligations, the Credit Agreement and the other Loan Documents and this Seventh Amendment, or the transactions contemplated hereby and thereby and (iii) each Lender and the Administrative Agent has heretofore properly performed and satisfied in a timely manner all of its obligations under the Loan Documents. 

                    7.   Reservation of Rights.  Each of the Company and the Borrowers acknowledges and agrees that, (i) the Lenders shall preserve all rights and remedies set forth in the Loan Documents and under applicable law, (ii) the current non-exercise of rights and remedies by the Administrative Agent and the Lenders in respect of the Existing Events of Default shall not be construed as a waiver of any such Events of Default, (iii) any acceptance by the Lenders of a payment of principal or interest in an amount less than the full amount of principal or interest due and payable under the Credit Agreement shall not constitute a waiver of any rights and remedies by the Administrative Agent and the Lenders in respect thereof, (iv) the Administrative Agent and the Lenders have the right, and have reserved their right, to invoke fully any or all of such rights and remedies under the Credit Agreement, the other Loan Documents and applicable law in respect of the Existing Events of Default and any other Events of Default that may now exist or hereafter occur, (v) and nothing contained herein shall in any way limit said


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rights or diminish any of the obligations of the Company and the Borrowers or any of their Subsidiaries contained in the Loan Documents.

                    8.   Payment of Fees and Expenses.  The Borrowers agree to pay or reimburse the Administrative Agent for its out-of-pocket costs and expenses incurred in connection with this Seventh Amendment, any documents prepared in connection herewith and the transactions contemplated hereby and any outstanding amounts relating thereto to the Administrative Agent’s professional advisors including, without limitation, the reasonable fees, charges and disbursements of Simpson Thacher & Bartlett LLP, counsel to the Administrative Agent, and the reasonable fees, charges and disbursements of FTI/Policano & Manzo, L.L.C., subject to the Administrative Agent’s approval of such fees.  

                    9.   No Change.   Except as expressly provided herein, no term or provision of the Credit Agreement shall be amended, waived, modified or supplemented, and each term and provision of the Credit Agreement shall remain in full force and effect.

                    10. Effectiveness.  This Seventh Amendment shall become effective upon the satisfaction of the following conditions precedent and will be deemed to be effective as of June 26, 2003 (the “Seventh Amendment Effective Date”):

                    (a)  counterparts hereof duly executed by Company, the Borrowers and each of the Lenders; the execution and delivery of this Seventh Amendment by any Lender shall be binding upon each of its successors and assigns (including assignees of its Commitments and Loans in whole or in part prior to effectiveness hereof) and binding in respect of all of its Commitments and Loans, including any acquired subsequent to its execution and delivery hereof and prior to the effectiveness hereof; 

                    (b)  a copy of resolutions of each Borrower, certified by the Secretary of such Borrower, authorizing the execution, delivery and performance of this Seventh Amendment, which shall be in form and substance reasonably satisfactory to the Administrative Agent and shall state that the resolutions thereby certified have not been amended, modified, revoked or rescinded; 

                    (c)  a certificate of each of the Borrowers, dated as of the date hereof, as to the incumbency and signature of the officers of such Borrower executing this Seventh Amendment, which shall be in form and substance reasonably satisfactory to the Administrative Agent; and

                    (d)  such other documents, instruments and agreements with respect to the matters contemplated by this Seventh Amendment as the Administrative Agent reasonably shall request, and all such documents, instruments and agreements shall be in form and substance reasonably satisfactory to the Administrative Agent. 

                    11. Counterparts.  This Seventh Amendment may be executed by the parties hereto in any number of separate counterparts by facsimile with originals to follow, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.

                    12. GOVERNING LAW.  THIS SEVENTH AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.


                    IN WITNESS WHEREOF, the parties have caused this Seventh Amendment to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.

 

DDi CAPITAL CORP.

 

 

 

 

 

 

 

 

 

 

By:

/S/ JOHN STUMPF

 

 

 


 

 

Title:

Chief Financial Officer (CFO)

 

 

 

 

 

 

 

 

 

 

DYNAMIC DETAILS, INCORPORATED

 

 

 

 

 

 

 

 

 

 

By:

/s/ JOHN STUMPF

 

 

 


 

 

Title:

CFO

 

 

 

 

 

 

DYNAMIC DETAILS, INCORPORATED, SILICON VALLEY

 

 

 

 

 

 

 

 

 

 

By:

/s/ JOHN STUMPF

 

 

 


 

 

Title:

CFO

 



                    Each of the undersigned hereby consents to the foregoing Seventh Amendment and hereby confirms, reaffirms and restates that its obligations under or in respect of the Credit Agreement and the documents related thereto to which it is a party are and shall remain in full force and effect after giving effect to the foregoing Seventh Amendment.

 

DYNAMIC DETAILS, INCORPORATED, VIRGINIA

 

 

 

 

 

 

 

 

 

 

By:

/s/ JOHN STUMPF

 

 

 


 

 

Title:

CFO

 

 

 

 

 

 

 

 

 

 

DYNAMIC DETAILS TEXAS, L.P.

 

 

 

 

 

 

 

 

 

 

By:

DYNAMIC DETAILS TEXAS HOLDINGS CORP.

 

 

 

 

 

 

 

 

 

 

By:

/s/ JOHN STUMPF

 

 

 


 

 

Title:

CFO

 

 

 

 

 

 

By:

DDi-TEXAS INTERMEDIATE HOLDINGS, L.L.C.

 

 

 

 

 

 

By:

/s/ JOHN STUMPF

 

 

 


 

 

Title:

CFO

 

 

 

 

 

 

By:

DYNAMIC DETAILS TEXAS HOLDINGS CORP.

 

 

 

 

 

 

By:

/s/ JOHN STUMPF

 

 

 


 

 

Title:

CFO

 

 

 

 

 

 

By:

DYNAMIC DETAILS INCORPORATED, COLORADO SPRINGS

 

 

 

 

 

 

 

 

 

 

By:

/s/ JOHN STUMPF

 

 

 


 

 

Title:

CFO

 

 

 

 

 

 

By:

DYNAMIC DETAILS INCORPORATED, TEXAS

 

 

 

 

 

 

By:

/s/ JOHN STUMPF

 

 

 


 

 

Title:

CFO

 


 

JPMORGAN CHASE BANK, as Administrative Agent, Collateral Agent, Co-Syndication Agent and as a Lender

 

 

 

 

 

 

 

 

 

 

By:

/s/ JONATHAN KATZ

 

 

 


 

 

Name:

Jonathan Katz

 

 

Title:

Vice President

 

       

 

 

 

 

 

BANK AUSTRIA CREDITANSTALT CORP FINANCE, as lender

 

 

 

 

 

 

By:

/s/ PETER BRACH

 

 

 


 

 

Name:

Peter Brach

 

 

Title:

Director

 

 

 

 

 

 

 

 

 

 

By:

/s/ SCOTT OBECK

 

 

 


 

 

Name:

Scott Obeck

 

 

Title:

Associate Director

 

 

 

 

 

 

 

 

 

 

BANK BOSTON, as a Lender

 

 

 

 

 

 

By:

/s/ THOMAS SCHMIDT

 

 

 


 

 

Name:

Thomas Schmidt

 

 

Title:

Vice President

 

 

 

 

 

 

 

 

 

 

THE BANK OF NOVA SCOTIA, as a Lender

 

 

 

 

 

By:

/s/ MARK SPARROW

 

 

 


 

 

Name:

Mark Sparrow

 

 

Title:

Director

 

 

 

 

 

 

 

 

 

 

CITIZENS BANK OF MA,  as a Lender

 

 

 

 

 

 

By:

/s/ STEVEN C. PETRARCA

 

 

 


 

 

Name:

Steven C. Petrarca

 

 

Title:

Vice President

 

     
     

 

CRESCENT/MACH I PARTNERS, L.P.

 

 

 

 

 

 

 

 

By:

TCW ASSET MANAGEMENT COMPANY
Its Investment Manager

 

 

 

 

 

 

 

 

 

 

By:

/s/ RICHARD F. KURTH

 

 

 


 

 

Name:

Richard F. Kurth

 

 

Title:

Senior Vice President

 

 

 

 

 

 

By:

/s/ JONATHAN R. INSULL

 

 

 


 

 

Name:

Jonathan R. Insull

 

 

Title:

MANAGING DIRECTOR

 

       

 

 

CYPRESSTREE INVESTMENT PARTNERS I, LTD, as a Lender

 

 

 

 

 

 

By:

CYPRESSTREE INVESTMENT MANAGEMENT COMPANY, INC.,
as Portfolio Manager.

 

 

 

 

 

 

 

 

 

 

By:

/s/ PRESTON I. CARNES, JR.

 

 

 


 

 

Name:

Preston I. Carnes, Jr.

 

 

Title:

Managing Director

 

 

 

 

 

 

 

 

 

 

 

CYPRESSTREE INVESTMENT PARTNERS II, LTD., as a Lender

 

 

 

 

 

 

By:

CYPRESSTREE INVESTMENT MANAGEMENT COMPANY, INC.,
as Portfolio Manager

 

 

 

 

 

 

 

 

 

 

By:

/s/ PRESTON I. CARNES, JR.

 

 

 


 

 

Name:

Preston I. Carnes, Jr.

 

 

Title:

Managing Director

 

 

 

 

 

 

 

 

 

 

 

DEBT STRATEGIES FUND, INC, as a Lender

 

 

 

 

 

 

By:

/s/ PHILIP J. BRENDEL

 

 

 


 

 

 

Philip J. Brendel

 

 

 

Authorized Signatory

 

 

 

 

 

 

 

DEUTSCHE BANK TRUST COMPANY AMERICAS as a Lender

 

 

 

 

 

 

By:

/s/ ALEXANDER BICI

 

 

 


 

 

Name:

Alexander Bici

 

 

Title:

Vice President

 

 

 

 

 

 

 

 

 

 

DRESDNER BANK AG, NEW YORK
AND GRAND CAYMAN BRANCHES

 

 

 

 

 

 

By:

/s/ JAMES M. GALLAGHER

 

 

 


 

 

 

James M. Gallagher

 

 

 

Director

 

 

 

 

 

 

 

 

 

 

By:

/s/ LISA OVERTON

 

 

 


 

 

Name:

Lisa Overton

 

 

Title:

Associate

 

 

 

 

 

 

 

 

 

 

FLEET NATIONAL BANK, as a Lender

 

 

 

 

 

 

By:

/s/ THOMAS SCHMIDT

 

 

 


 

 

Name:

Thomas Schmidt

 

 

Title:

Vice President

 

 

 

 

 

 

 

 

 

 

GRAYSTON CLO 2001-01 LTD.

 

 

By:

BEAR STEARNS ASSET MANAGEMENT INC.
as its Collateral Manager

 

 

 

 

 

 

 

 

 

 

By:

/s/ [ILLEGIBLE]

 

 

 


 

 

Name:

[ILLEGIBLE]

 

 

Title:

Associate Director

 

 

 

 

 

 

 

 

 

 

GSC PARTNERS GEMINI FUND LIMITED,
as a Lender

 

 

 

 

 

 

By:

GSCP(NJ), LP, as Collateral Monitor

 

 

By:

GSCP(NJ), INC., its General Partner

 

 

 

 

 

 

By:

/s/ THOMAS J. LIBASSI

 

 

 


 

 

Name:

Thomas J. Libassi

 

 

Title:

Managing Director

 

 

 

 

 

 

 

 

 

 

HARBOUR TOWN FUNDING TRUST, as a Lender

 

 

 

 

 

 

By:

/s/ ANN E. MORRIS

 

 

 


 

 

Name:

Ann E. Morris

 

 

Title:

Authorized Agent

 

       

 

 

 

 

 

IBM CREDIT LLC (formerly known as IBM Credit Corporation), as a Lender

 

 

 

 

 

 

By:

/s/ STEVEN A. FLANAGAN

 

 

 


 

 

 

Steven A. Flanagan

 

 

 

Manager, Global Special Handling Group

 

 

 

 

 

 

 

 

 

 

INDOSUEZ CAPITAL FUNDING IIA, LIMITED

 

 

By:

Indosuez Capital as Portfolio Advisor

 

 

 

 

 

 

By:

/s/ CHARLES KOBAYASHI

 

 

 


 

 

Name:

Charles Kobayashi

 

 

Title:

Principal and Portfolio Manager

 

       

 

 

 

 

 

KZH CRESCENT-2 LLC

 

 

 

 

 

 

By:

/s/ DORIAN HERRERA

 

 

 


 

 

Name:

Dorian Herrera

 

 

Title:

Authorized Agent

 

 

 

 

 

 

KZH CRESCENT-3 LLC

 

 

 

 

 

 

By:

/s/ DORIAN HERRERA

 

 

 


 

 

Name:

Dorian Herrera

 

 

Title:

Authorized Agent

 

 

 

 

 

 

 

 

 

 

KZH CYPRESSTREE-1 LLC

 

 

 

 

 

 

By:

/s/ DORIAN HERRERA

 

 

 


 

 

Name:

Dorian Herrera

 

 

Title:

Authorized Agent

 

 

 

 

 

 

 

 

 

 

MASSMUTUAL HIGH YIELD PARTNERS II, LLC, as a Lender

 

 

 

 

 

 

By:

HYP MANAGEMENT, INC.
A
s Managing Member

 

 

 

 

 

 

By:

/s/ RICHARD C. MORRISON

 

 

 


 

 

Name:

 

 

 

Title:

VICE PRESIDENT

 

 

 

 

 

 

 

 

 

 

MASSACHUSETTS MUTUAL LIFE INSURANCE CO., as a Lender

 

 

 

 

 

 

By:

/s/ STEVEN J. KATZ

 

 

 


 

 

Name:

Steven J. Katz

 

 

Title:

Second Vice President and
Associate General Counsel

 

 

 

 

 

 

 

 

 

 

MASTER SENIOR FLOATING RATE TRUST

 

 

 

 

 

 

By:

/s/ PHILIP J. BRENDEL

as a Lender

 

 


 

 

 

Philip J. Brendel

 

 

 

Authorized Signatory

 

 

 

 

 

 

MERRILL LYNCH PRIME RATE PORTFOLIO, as a Lender

 

 

By:

Merrill Lynch Investment Managers, LP
as Investment Advisor

 

 

 

 

 

 

By:

/s/ PHILIP  J. BRENDEL

 

 

 


 

 

 

Philip J. Brendel

 

 

 

Authorized Signatory

 

 

 

 

 

 

 

 

 

 

MORGAN STANLEY PRIME INCOME TRUST, as a Lender

 

 

 

 

 

 

By:

/s/ SHEILA A. FINNERTY

 

 

 


 

 

Name:

Sheila A. Finnerty

 

 

Title:

Executive Director

 

 

 

 

 

 

 

 

 

 

PILGRIM AMERICA HIGH INCOME INVESTMENTS LTD.

 

 

BY:

ING INVESTMENTS, LLC
as  its investment manager

 

 

 

 

 

 

By:

/s/ MARK F. HAAK, CFA

 

 

 


 

 

Name:

Mark F. Haak, CFA

 

 

Title:

Vice President

 

 

 

 

 

 

 

 

 

 

PILGRIM CLO 1999-1 LTD.

 

 

By:

ING INVESTMENTS, LLC
as its Investment manager

 

 

 

 

 

 

By:

/s/ MARK F. HAAK, CFA

 

 

 


 

 

Name:

Mark F. Haak, CFA

 

 

Title:

Vice President

 

 

 

 

 

 

 

 

 

 

SANKATY ADVISORS, LLC, as Collateral Manager for Brant Point II CBO
2000-1 LTD., as Term Lender

 

 

 

 

 

 

 

 

 

 

By:

/s/ DIANE J. EXTER

 

 

 


 

 

Name:

Diane J. Exter

 

 

Title:

Managing Director
Portfolio Manager

 

 

 

 

 

 

 

 

 

 

 

SANKATY ADVISORS, LLC as Collateral Manager for Castle Hill I - INGOTS, Ltd.,
as Term Lender

 

 

 

 

 

 

 

 

 

 

By:

 

 

 

Name :

/s/ DIANE J. EXTER

 

 

 


 

 

Name:

Diane J. Exter

 

 

Title:

Managing Director
Portfolio Manager

 

 

 

 

 

 

 

SANKATY ADVISORS, LLC as Collateral Manager for Race Point CLO, Limited,
as Term Lender

 

 

 

 

 

 

 

 

 

 

By:

/s/ DIANE J. EXTER

 

 

 


 

 

Name:

Diane J. Exter

 

 

Title:

Managing Director
Portfolio Manager

 

 

 

 

 

 

SANKATY HIGH Y IELD PARTNERS II, LP

 

 

 

 

 

 

 

 

 

 

By:

/s/ DIANE J. EXTER

 

 

 


 

 

Name:

Diane J. Exter

 

 

Title:

Managing Director
Portfolio Manager

 

 

 

 

 

 

 

 

 

 

SMOKY RIVER CDO, LP,

 

 

 

 

 

By

RBC LEVERAGED CAPITAL as Portfolio Advisor

 

 

 

 

 

 

By:

/s/ MELISSA MARANO

 

 

 


 

 

Name:

Melissa Marano

 

 

Title:

Partner

 

 

 

 

 

 

 

 

 

 

 

SOMERS CDO, LTD, as a Lender

 

 

 

 

 

 

By:

MASS MUTUAL LIFE INSURANCE CO.
AS, COLLATERAL MANAGER

 

 

 

 

 

 

By:

/s/ STEVEN J. KATZ

 

 

 


 

 

Name:

Steven J. Katz

 

 

Title:

Second Vice President and
Associate General Counsel

 

 

 

 

 

 

 

 

 

 

SUNAMERICA SENIOR FLOATING RATE FUND INC.

 

 

 

 

 

By:

STANFIELD CAPITAL PARTNERS LLC as subadvisor

 

 

 

 

 

 

 

 

 

 

By:

/s/ CHRISTOPHER A. BONDY

 

 

 


 

 

Name:

Christopher A. Bondy

 

 

Title:

Partner

 

     
     

 

TCW SELECT LOAN FUND, LIMITED

 

 

 

 

 

 

By:

TCW Advisors, Inc. as its Collateral Manager

 

 

 

 

 

 

By:

/s/ RICHARD F. KURTH

 

 

 


 

 

Name:

Richard F. Kurth`

 

 

Title:

Senior Vice President

 

 

 

 

 

 

By:

/s/ JONATHAN R. INSULL

 

 

 


 

 

Name:

Jonathan R. Insull

 

 

Title:

Managing Director

 

     
     

 

VAN KAMPEN SENIOR LOAN FUND

 

 

 

 

 

 

By:

VAN KAMPEN INVESTMENT ADVISORY CORP.

 

 

 

 

 

 

 

 

 

 

By:

/s/ CHRISTINA JAMIESON

 

 

 


 

 

Name:

Christina Jamieson

 

 

Title:

Vice President

 

 


SCHEDULE I

Existing Events of Default

The following Events of Default have occurred as of the Seventh Amendment Effective Date:

1.

Failure to meet minimum Consolidated EBITDA for the fiscal quarter ending December 31, 2002 (See Section 7.1(d) and Section 8(c) of the Credit Agreement)

 

 

2.

Failure to maintain minimum Liquidity Amount from and after December 31, 2002 (See Section 7.1(a) and Section 8(c) of the Credit Agreement)

 

 

3.

Failure to maintain minimum Liquidity Amount (See Section 7.1(a) and Section 8(c) of the Credit Agreement)

 

 

4.

Failure to meet the Consolidated Senior Leverage Ratio covenant (See Section 7.1(b) and Section 8(c) of the Credit Agreement)

 

 

5.

Failure to meet minimum Consolidated EBITDA (See Section 7.1(d) and Section 8(c) of the Credit Agreement)

 

 

6.

Failure to meet minimum Consolidated Revenue (See Section 7.1(e) and Section 8(c) of the Credit Agreement)

 

 

7.

Audited consolidated financial statements for the fiscal year ended December 31, 2002 issued by PricewaterhouseCoopers LLP or other independent certified public accountants of nationally recognized standing with a “going concern” or like qualification or exception (See Section 6.1(a) and Section 8(d) of the Credit Agreement)

 

 

8.

Failure to make interest payments on the 5 ¼ Notes, the 6 ¼ Notes and the 12 ½% Senior Discount Notes (See Section 8(e) of the Credit Agreement)

 

 

9.

Default under the Hedge Agreement.