AMENDMENT NO. 4 TO THE CREDIT AGREEMENT
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Business Finance
- Credit Agreements
EX-10.5 2 f40168exv10w5.htm EXHIBIT 10.5 exv10w5
EXECUTION COPY
Exhibit 10.5
EXECUTION COPY
AMENDMENT NO. 4 TO THE
CREDIT AGREEMENT
CREDIT AGREEMENT
Dated as of April 25, 2008
AMENDMENT NO. 4 TO THE CREDIT AGREEMENT among DEL MONTE CORPORATION, a Delaware corporation (the Borrower), DEL MONTE FOODS COMPANY, a Delaware corporation (Holdings), each lender from time to time party thereto (collectively, the Lenders and individually, a Lender), and BANK OF AMERICA, N.A., as administrative agent (the Administrative Agent) for the Lenders.
PRELIMINARY STATEMENTS:
(1) The Borrower, Holdings, the Lenders, Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, Lehman Commercial Paper Inc. and Goldman Sachs Credit Partners L.P, as Co-Syndication Agents, and Harris Trust and Savings Bank and Suntrust Bank, as Co-Documentation Agents, have entered into a Credit Agreement dated as of February 8, 2005 (as amended by Amendment No. 1 dated as of January 20, 2006, Amendment No. 2 dated as of May 19, 2006, and Amendment No. 3 dated as of August 15, 2006, the Credit Agreement). Capitalized terms not otherwise defined in this Amendment have the same meanings as specified in the Credit Agreement.
(2) The Borrower and the Required Lenders have agreed to amend the Credit Agreement as hereinafter set forth.
SECTION 1. Amendments to Credit Agreement. Effective as of the date first written above, the Credit Agreement is, subject to the satisfaction of the conditions precedent set forth in Section 2, hereby amended as follows:
(a) The definition of Additional Fee Letters is hereby amended in its entirety to read as follows: Additional Fee Letters means, collectively, the Additional Fee Letter, the Additional Term B-3 Fee Letter and that certain Fee Letter dated as of April 25, 2008 from Bank of America to the Borrower in respect of that certain Amendment No. 4 to the Credit Agreement, dated as of April 25, 2008, by and among the Borrower, Holdings, each of the Lenders party thereto and the Administrative Agent.
(b) Section 2.05(b)(i)(A) is hereby amended in its entirety to read as follows:
(A) with respect to any such Disposition that is consummated (1) on or prior to July 30, 2006 (a 2006 Disposition) or (2) pursuant to a definitive agreement entered into by Holdings or any of its Subsidiaries on or after April 1, 2008 but prior to December 31, 2008 (a 2008 Disposition) and which in either case, results in the realization by Holdings or such Subsidiary of Net Cash Proceeds (determined as of the date of consummation of such Disposition,
whether or not such Net Cash Proceeds are then received by Holdings or such Subsidiary, but with the amount of any such Net Cash Proceeds attributable to any time period after the consummation of such Disposition with respect to such Disposition to be determined by an estimate made in good faith by a Responsible Officer) in excess of (x) with respect to a 2006 Disposition, $50,000,000 and (y) with respect to a 2008 Disposition, $100,000,000 (any such Disposition as described in this Section 2.05(b)(i)(A), a Major Disposition), the Borrower shall prepay substantially contemporaneously with the consummation of such Major Disposition pursuant to this Section 2.05(b)(i)(A) an aggregate principal amount of Loans equal to (x) in the case of a 2006 Disposition, 20% of, and (y) in the case of a 2008 Disposition, 100% of, the Net Cash Proceeds received by Holdings or its Subsidiaries upon the consummation of such Major Disposition; provided that (x) any Net Cash Proceeds remaining after the prepayments required to be made pursuant to the foregoing may be used at the discretion of Holdings or the applicable Subsidiary for general corporate purposes not in contravention of any Law or Loan Document (including, without limitation, the making of any Restricted Payment not in contravention of Section 7.06 hereof) and (y) in the case of any Major Disposition permitted by Section 7.05(k), (I) any such prepayment only shall be required to be made within 180 days of the date of the Disposition, and (II) the amount required to be prepaid pursuant to this Section 2.05(b)(i)(A) with respect to such Disposition permitted by Section 7.05(k) shall be 50% of the first $200,000,000 of Net Cash Proceeds therefrom and 100% of all Net Cash Proceeds in excess of $200,000,000 received therefrom;
(c) Section 7.04 of the Credit Agreement is amended by replacing . at the end of clause (d) with ; and and adding a new clause (e) to read in full as follows:
(e) in connection with any Disposition permitted under Section 7.05(j), any Subsidiary of the Borrower may merge or consolidate with any other Person (with either such Subsidiary or such other Person being the surviving entity with respect to such merger or consolidation); provided that the Person surviving such merger or consolidation shall after such merger or consolidation not be an Affiliate of Holdings; and any such merger or consolidation shall be deemed to be a disposition subject to the release provisions in respect of Collateral pursuant to Section 26 of the Security Agreement.
(d) Clause (j) of Section 7.05 of the Credit Agreement is amended to read in full as follows:
(j) Dispositions by the Borrower and its Subsidiaries not otherwise permitted under this Section 7.05 for fair market value; provided that (i) at the time of such Disposition, no Default shall exist or would result from such Disposition; (ii) the Borrower would be in compliance with Section 7.10 as of the most recently completed Measurement Period ending prior to such Disposition for which the financial statements and certificates required by Section 6.01(a) or 6.01(b), as applicable, were required to be delivered, after giving pro forma effect to such Disposition and the
application of any proceeds thereof (including, without limitation, the application of any such proceeds to the repayment of Indebtedness) as if such Disposition and application of the proceeds therefrom had occurred as of the first day of such Measurement Period; and (iii) at least 75% of the purchase price for such asset shall be paid to the Borrower or such Subsidiary in cash or Cash Equivalents (which determination of cash or Cash Equivalents shall be deemed to include any Designated Noncash Consideration (as defined in the New Subordinated Notes Indenture as in effect as of the date of this Agreement)); provided that up to $10,000,000 per fiscal year in fair market value of property disposed of in reliance on this clause (j) may be disposed of for less than fair market value or for consideration other than 75% cash or Cash Equivalents; provided further, that the fair market value of any property disposed of in reliance on this clause (j) for which no portion of the consideration is paid in cash or Cash Equivalents shall not exceed $2,000,000 for any single transaction or series of related transactions; and
(e) Section 7.10 of the Credit Agreement is hereby amended to read in full as follows:
SECTION 7.10 Financial Covenants. (a) Total Debt Ratio. Permit the Total Debt Ratio for any Measurement Period set forth below to be greater than the ratio set forth below opposite such period:
Four Fiscal Quarters Ending | Maximum Total Debt Ratio | ||||
Amendment No. 2 Effective Date through January 25, 2009 | 5.25:1.00 | ||||
May 3, 2009 through January 31, 2010 | 4.75:1.00 | ||||
May 2, 2010 through January 30, 2011 | 4.25:1.00 | ||||
May 1, 2011 and thereafter | 3.75:1.00 | ||||
(b) Fixed Charge Coverage Ratio. Permit the Fixed Charge Coverage Ratio for any Measurement Period to be less than 1.15:1.00.
SECTION 2. Conditions of Effectiveness. This Amendment shall become effective as of the date first written above when, and only when, on or before April 30, 2008: (i) the Administrative Agent and the Borrower shall have received (A) counterparts of this Amendment executed by the Borrower and the Required Lenders and acknowledged by the Administrative Agent, (B) the consent attached hereto executed by each Guarantor, and (C) a
counterpart of that certain fee letter, dated as of the date hereof (the Fee Letter), executed by the Borrower and the Administrative Agent; and (ii) the Borrower shall have paid all fees set forth in the Fee Letter and the reasonable and documented expenses (including the reasonable fees and expenses of Shearman & Sterling LLP) incurred by the Administrative Agent in connection with the preparation, negotiation and execution of this Amendment. This Amendment is subject to the provisions of Section 11.01 of the Credit Agreement.
SECTION 3. Reference to and Effect on the Credit Agreement and the Loan Documents. (a) On and after the effectiveness of this Amendment, each reference in the Credit Agreement to this Agreement, hereunder, hereof or words of like import referring to the Credit Agreement, and each reference in the Notes and each of the other Loan Documents to the Credit Agreement, thereunder, thereof or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement, as amended by this Amendment.
(b) The Credit Agreement, the Notes and each of the other Loan Documents, as specifically amended by this Amendment, are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed. Without limiting the generality of the foregoing, the Collateral Documents and all of the Collateral described therein do and shall continue to secure the payment of all Obligations of the Loan Parties under the Loan Documents, in each case as amended by this Amendment.
SECTION 4. Costs and Expenses The Borrower agrees to pay on demand all costs and expenses of the Administrative Agent in connection with the preparation, execution, delivery and administration, modification and amendment of this Amendment and the other instruments and documents to be delivered hereunder (including, without limitation, the reasonable fees and expenses of counsel for the Administrative Agent) in accordance with the terms of Section 11.04 of the Credit Agreement.
SECTION 5. Execution in Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute but one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment by telecopier shall be effective as delivery of a manually executed counterpart of this Amendment.
SECTION 6. Governing Law. This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective officers thereunto duly authorized, as of the date first above written.
DEL MONTE CORPORATION | ||||
By | /s/ David L. Meyers | |||
Name: | David L. Meyers | |||
Title: Executive Vice President, Administration and Chief Financial Officer | ||||
DEL MONTE FOODS COMPANY | ||||
By | /s/ David L. Meyers | |||
Name: | David L. Meyers | |||
Title: Executive Vice President, Administration and Chief Financial Officer | ||||
BANK OF AMERICA, N.A., as Administrative Agent and as Lender | ||||
By | /s/ Michael Delaney | |||
Title: Vice President | ||||
1ST FARM CREDIT SERVICES, PCA, as Lender | ||||
By: | /s/ Dale Richardson | |||
Name: | Dale Richardson | |||
Title: | VP, Illinois Capital Markets Group | |||
ABCLO 2007-1 LTD, as Lender By: Alliance Bernstein L.P., as investment advisor | ||||
By: | /s/ Michael E. Sohr | |||
Name: | Michael E. Sohr | |||
Title: | Investment Officer | |||
AGFIRST FARM CREDIT BANK, as Lender | ||||
By: | /s/ Steven J. OShea | |||
Name: | Steven J. OShea | |||
Title: | Vice President | |||
AGSTAR FINANCIAL SERVICES, PCA, as Lender | ||||
By: | /s/ Troy Mostaert | |||
Name: | Troy Mostaert | |||
Title: | Vice President |
AIB DEBT MANAGEMENT, LIMITED, as Lender | ||||
By: | /s/ Roisin OConnell | |||
Name: | Roisin OConnell | |||
Title: | Vice President, Investment Advisor to AIB Debt Management Limited | |||
By: | /s/ Keith Hamilton | |||
Name: | Keith Hamilton | |||
Title: | Assistant Vice President, Investment Advisor to AIB Debt Management Limited | |||
ALLIED IRISH BANKS, P.L.C., as Lender | ||||
By: | /s/ Roisin OConnell | |||
Name: | Roisin OConnell | |||
Title: | Vice President, Investment Advisor to AIB Debt Management Limited | |||
By: | /s/ Keith Hamilton | |||
Name: | Keith Hamilton | |||
Title: | Assistant Vice President, Investment Advisor to AIB Debt Management Limited | |||
AMERICAN AGCREDIT, PCA, as Lender | ||||
By: | /s/ Gary Van Schuyver | |||
Name: | Gary Van Schuyver | |||
Title: | Vice President |
AMMC CLO VI, LIMITED, as Lender By: American Money Management Corp., as Collateral Manager | ||||
By: | /s/ Chester M. Eng | |||
Name: | Chester M. Eng | |||
Title: | Senior Vice President | |||
ARCHIMEDES FUNDING IV (CAYMAN), LTD., as Lender By: West Gate Horizons Advisors LLC, as Collateral Manager | ||||
By: | /s/ Heidimarie Skor | |||
Name: | Heidimarie Skor | |||
Title: | Senior Credit Analyst | |||
BADGERLAND FARM CREDIT SERVICES, ACA a/k/a BADGERLAND FCS, ACA, as Lender | ||||
By: | /s/ Kenneth H. Rue | |||
Name: | Kenneth H. Rue | |||
Title: | Vice President, Capital Markets | |||
BALLANTYNE FUNDING LLC, as Lender | ||||
By: | /s/ Jonathan Barnes | |||
Name: | Jonathan Barnes | |||
Title: | Vice President |
BANK OF HAWAII, as Lender | ||||
By: | /s/ Steven Nakahara | |||
Name: | Steven Nakahara | |||
Title: | Vice President | |||
BANK OF MONTREAL, as Lender By: HIM Monegy, Inc., as Agent | ||||
By: | /s/ Jason Anderson | |||
Name: | Jason Anderson | |||
Title: | Associate | |||
BANK OF NEW YORK, as Lender | ||||
By: | /s/ G. Louis Ashley | |||
Name: | G. Louis Ashley | |||
Title: | Senior Vice President | |||
THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, as Lender | ||||
By: | /s/ Karen A. Brinkman | |||
Name: | Karen A. Brinkman | |||
Title: | Vice President | |||
BARCLAYS BANK, PLC, as Lender | ||||
By: | /s/ Jason Moynihan | |||
Name: | Jonathan Moynihan | |||
Title: | Head of U.S. Loan Trading |
BAYERISCHE LANDESBANK, NEW YORK BRANCH, as Lender | ||||
By: | /s/ Georginia Fiordalisi, CFA | |||
Name: | Georgina Fiordalisi, CFA | |||
Title: | Vice President | |||
By: | /s/ Stuart Schulman | |||
Name: | Stuart Schulman | |||
Title: | Senior Vice President | |||
BLACKROCK SENIOR INCOME SERIES, as Lender | ||||
By: | /s/ Anthony Heyman | |||
Name: | Anthony Heyman | |||
Title: | Director | |||
BLACKROCK SENIOR INCOME SERIES II, as Lender | ||||
By: | /s/ Anthony Heyman | |||
Name: | Anthony Heyman | |||
Title: | Director | |||
BLACKROCK SENIOR INCOME SERIES IV, as Lender | ||||
By: | /s/ Anthony Heyman | |||
Name: | Anthony Heyman | |||
Title: | Director |
BLACKROCK SENIOR INCOME SERIES V (F/K/A GRANITE FINANCE LIMITED), as Lender | ||||
By: | /s/ Anthony Heyman | |||
Name: | Anthony Heyman | |||
Title: | Director | |||
MAGNETITE V CLO, as Lender | ||||
By: | /s/ Anthony Heyman | |||
Name: | Anthony Heyman | |||
Title: | Director | |||
BNP PARIBAS, as Lender | ||||
By: | /s/ Katherine Wolfe | |||
Name: | Katherine Wolfe | |||
Title: | Managing Director | |||
By: | /s/ Sandy Bertram | |||
Name: | Sandy Bertram | |||
Title: | Vice President | |||
BOSTON HARBOR CLO 2004-1, as Lender | ||||
By: | /s/ Beth Mazor | |||
Name: | Beth Mazor | |||
Title: | Vice President | |||
CALYON, NEW YORK BRANCH, as Lender | ||||
By: | /s/ Greg Hennenfent | |||
Name: | Greg Hennenfent | |||
Title: | Director | |||
By: | /s/ Joseph Philbin | |||
Name: | Joseph Philbin | |||
Title: | Director | |||
CAPITAL FARM CREDIT, as Lender | ||||
By: | /s/ Robert P. Abbott | |||
Name: | Robert P. Abbott | |||
Title: | President Corporate Lending | |||
CAPITAL ONE LEVERAGE FINANCE CORPORATION, as Lender | ||||
By: | /s/ Ron Walker | |||
Name: | Ron Walker | |||
Title: | VP | |||
CARLYLE HIGH YIELD PARTNERS IV, LTD., as Lender | ||||
By: | /s/ Linda Pace | |||
Name: | Linda Pace | |||
Title: | Managing Director | |||
CARLYLE HIGH YIELD PARTNERS VI, LTD., as Lender | ||||
By: | /s/ Linda Pace | |||
Name: | Linda Pace | |||
Title: | Managing Director | |||
CITIBANK, N.A., as Lender | ||||
By: | /s/ Alicia Beal | |||
Name: | Alicia Beal | |||
Title: | Attorney-in-Fact | |||
CITICORP USA INC, as Lender | ||||
By: | /s/ Robert Marcus | |||
Name: | Robert Marcus | |||
Title: | Managing Director | |||
COBANK, ACB, as Lender | ||||
By: | /s/ Jeffrey C. Norte | |||
Name: | Jeffrey C. Norte | |||
Title: | Vice President | |||
COMERICA WEST INCORPORATED, as Lender | ||||
By: | /s/ Steve D. Clear | |||
Name: | Steve D. Clear | |||
Title: | Assistant Vice President | |||
COMMERZBANK AG, NEW YORK AND GRAND CAYMAN BRANCHES, as Lender | ||||
By: | /s/ Christian Jagenberg | |||
Name: | Christian Jagenberg | |||
Title: | SVP and Manager | |||
By: | /s/ Matthew Havens | |||
Name: | Matthew Havens | |||
Title: | Assistant Treasurer | |||
CREDIT SUISSE INTERNATIONAL, as Lender | ||||
By: | /s/ Melanie Harries | |||
Name: | Melanie Harries | |||
Title: | Assistant Vice President | |||
DENALI CAPITAL CLO V, LTD., or an affiliate, as Lender By: Denali Capital LLC, managing member of DC Funding Partners LLC, its portfolio manager | ||||
By: | /s/ Kelli C. Marti | |||
Name: | Kelli C. Marti | |||
Title: | Senior Vice President | |||
DENALI CAPITAL CLO VI, LTD., or an affiliate, as Lender By: Denali Capital LLC, managing member of DC Funding Partners LLC, its portfolio manager | ||||
By: | /s/ Kelli C. Marti | |||
Name: | Kelli C. Marti | |||
Title: | Senior Vice President | |||
DENALI CAPITAL CLO VII, LTD., or an affiliate, as Lender By: Denali Capital LLC, managing member of DC Funding Partners LLC, its portfolio manager | ||||
By: | /s/ Kelli C. Marti | |||
Name: | Kelli C. Marti | |||
Title: | Senior Vice President | |||
DEUTSCHE BANK AG NEW YORK BRANCH, as Lender By: DB Services New Jersey, Inc. | ||||
By: | /s/ Edward Schaffer | |||
Name: | Edward Schaffer | |||
Title: | Vice President | |||
By: | /s/ Deirdre Whorton | |||
Name: | Deirdre Whorton | |||
Title: | Assistant Vice President | |||
EATON VANCE CDO VIII, LTD., as Lender By: Eaton Vance Management, as Investment Advisor | ||||
By: | /s/ Michael B. Botthof | |||
Name: | Michael B. Botthof | |||
Title: | Vice President | |||
EATON VANCE CDO IX, LTD., as Lender By: Eaton Vance Management, as Investment Advisor | ||||
By: | /s/ Michael B. Botthof | |||
Name: | Michael B. Botthof | |||
Title: | Vice President | |||
EATON VANCE INSTITUTIONAL SENIOR LOAN FUND, as Lender By: Eaton Vance Management, as Investment Advisor | ||||
By: | /s/ Michael B. Botthof | |||
Name: | Michael B. Botthof | |||
Title: | Vice President | |||
ERSTE BANK DER OESTERREICHISCHEN SPARKASSEN AG, as Lender | ||||
By: | /s/ Bryan J. Lynch | |||
Name: | Bryan J. Lynch | |||
Title: | Managing Director | |||
By: | /s/ Robert R. Suehnholz | |||
Name: | Robert R. Suehnholz | |||
Title: | First Vice President | |||
ESB BANK, as Lender | ||||
By: | /s/ Todd F. Palkovich | |||
Name: | Todd F. Palkovich | |||
Title: | Group Senior Vice President, Lending | |||
Fall Creek CLO, Ltd., as Lender | ||||
By: | /s/ Eduardo Piedra | |||
Name: | Eduardo Piedra | |||
Title: | Authorized Signatory | |||
FARM CREDIT BANK OF TEXAS, as Lender | ||||
By: | /s/ Luis M. H. Requejo | |||
Name: | Luis M. H. Requejo | |||
Title: | Managing Director Capital Markets | |||
FARM CREDIT SERVICES OF AMERICA, PCA, as Lender | ||||
By: | /s/ Curt Brown | |||
Name: | Curt Brown | |||
Title: | Vice President | |||
FARM CREDIT SERVICES OF MID-AMERICA, PCA, as Lender | ||||
By: | /s/ Ralph M. Bowman | |||
Name: | Ralph M. Bowman | |||
Title: | Vice President | |||
FARM CREDIT WEST, PCA, as Lender | ||||
By: | /s/ Ben Madonna | |||
Name: | Ben Madonna | |||
Title: | Vice President | |||
FCS FINANCIAL, PCA, f/k/a FARM CREDIT SERVICES OF MISSOURI, PCA, as Lender | ||||
By: | /s/ Sean Unterreiner | |||
Name: | Sean Unterreiner | |||
Title: | Senior Lending Officer |
FIDELITY ADVISOR SERIES II: FIDELITY ADVISOR FLOATING RATE HIGH INCOME FUND, PCA, as Lender | ||||
By: | /s/ Paul Murphy | |||
Name: | Paul Murphy | |||
Title: | Assistant Treasurer | |||
FIFTH THIRD BANK, as Lender | ||||
By: | /s/ Sean Devillers | |||
Name: | Sean Devillers | |||
Title: | Assistant Vice President | |||
FIRST NATIONAL BANK OF PENNSYLVANIA, as Lender | ||||
By: | /s/ Kara B. Beresh | |||
Name: | Kara B. Beresh | |||
Title: | Assistant Vice President | |||
FIRST PIONEER FARM CREDIT, ACA, as Lender | ||||
By: | /s/ James M. Papai | |||
Name: | James M. Papai | |||
Title: | Vice President |
FIRSTRUST BANK, as Lender | ||||
By: | /s/ Ellen Frank | |||
Name: | Ellen Frank | |||
Title: | Vice President | |||
FORTIS CAPITAL CORP., as Lender | ||||
By: | /s/ Stephen R. Staples | |||
Name: | Stephen R. Staples | |||
Title: | Director | |||
By: | /s/ Ilene Fowler | |||
Name: | Ilene Fowler | |||
Title: | Director | |||
FRANKLIN CLO IV, LIMITED, as Lender | ||||
By: | /s/ Alex Guang Yu | |||
Name: | Alex Guang Yu | |||
Title: | Authorized Signatory | |||
FRANKLIN CLO V, LIMITED, as Lender | ||||
By: | /s/ Alex Guang Yu | |||
Name: | Alex Guang Yu | |||
Title: | Authorized Signatory |
FRANKLIN FLOATING RATE DAILY ACCESS FUND, as Lender | ||||
By: | /s/ Richard Hsu | |||
Name: | Richard Hsu | |||
Title: | Vice President | |||
FRANKLIN TEMPLETON SERIES II FUNDS FRANKLIN FLOATING RATE II FUND, as Lender | ||||
By: | /s/ Richard Hsu | |||
Name: | Richard Hsu | |||
Title: | Vice President | |||
FRESNO-MADERA PRODUCTION CREDIT ASSOCIATION, as Lender | ||||
By: | /s/ Robert J. Kratz | |||
Name: | Robert J. Kratz | |||
Title: | SVP and Chief Credit Officer | |||
GALAXY VI CLO, Ltd., as Lender By: AIG Global Investment Corp., its Collateral Manager | ||||
By: | /s/ W. Jeffrey Baxter | |||
Name: | W. Jeffrey Baxter | |||
Title: | Managing Director |
GALAXY VII CLO, Ltd., as Lender By: AIG Global Investment Corp., its Collateral Manager | ||||
By: | /s/ W. Jeffrey Baxter | |||
Name: | W. Jeffrey Baxter | |||
Title: | Managing Director | |||
GALAXY VIII CLO, Ltd., as Lender By: AIG Global Investment Corp., its Collateral Manager | ||||
By: | /s/ W. Jeffrey Baxter | |||
Name: | W. Jeffrey Baxter | |||
Title: | Managing Director | |||
GE CFS LOAN HOLDING 2006-2 LLC, as Lender By: GECC, as Administrator | ||||
By: | /s/ Dwayne Coker | |||
Name: | Dwayne Coker | |||
Title: | Duly Authorized Signatory | |||
GE CFS LOAN HOLDING 2006-3 LLC, as Lender By: GECC, as Administrator | ||||
By: | /s/ Dwayne Coker | |||
Name: | Dwayne Coker | |||
Title: | Duly Authorized Signatory |
GE COMMERCIAL LOAN HOLDING LLC, as Lender By: GECC, as Administrator | ||||
By: | /s/ Dwayne Coker | |||
Name: | Dwayne Coker | |||
Title: | Duly Authorized Signatory | |||
GENERAL ELECTRIC CAPITAL CORPORATION, as Lender | ||||
By: | /s/ Dwayne Coker | |||
Name: | Dwayne Coker | |||
Title: | Duly Authorized Signatory | |||
GENERAL ELECTRIC PENSION TRUST, as Lender By: GE Asset Management Inc., as Collateral Manager | ||||
By: | /s/ John Campos | |||
Name: | John Campos | |||
Title: | Authorized Signatory | |||
GENESIS CLO 2007-1 LTD., as Lender | ||||
By: | /s/ Claude A. Baum, Esq. | |||
Name: | Claude A. Baum, Esq. | |||
Title: | General Counsel, Orehill Partners LLC | |||
GOLDMAN SACHS CREDIT PARTNERS L.P., as Lender | ||||
By: | /s/ John Makrinos | |||
Name: | John Makrinos | |||
Title: | Authorized Signatory | |||
THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND, as Lender | ||||
By: | /s/ Judy McMullan, Deirdre Reddan | |||
Name: | Judy McMullan, Deirdre Reddan | |||
Title: | Authorized Signatories | |||
GREENSTONE FARM CREDIT SERVICES, ACA/FLCA, as Lender | ||||
By: | /s/ Alfred S. Compton, Jr. | |||
Name: | Alfred S. Compton, Jr. | |||
Title: | VP/Managing Director | |||
GUARANTY BANK, as Lender | ||||
By: | /s/ Jeremy Jackson | |||
Name: | Jeremy Jackson | |||
Title: | Vice President |
HARRIS N.A. (successor by merger to Harris Trust and Saving Bank) as Co-Documentation Agent and as Lender | ||||
By: | /s/ Shane Koonee | |||
Name: | Shane Koonee | |||
Title: | Vice President | |||
ISRAEL DISCOUNT BANK OF NEW YORK, as Lender | ||||
By: | /s/ George Ahlmeyer | |||
Name: | George Ahlmeyer | |||
Title: | S.V.P. | |||
By: | /s/ Michael M. Diamond | |||
Name: | Michael M. Diamond | |||
Title: | V.P. | |||
JACKSON NATIONAL LIFE INSURANCE COMPANY, as Lender By: PPM America Inc., as Attorney-in-fact | ||||
By: | /s/ Eddie Hebert | |||
Name: | Eddie Hebert | |||
Title: | Assistant Vice President |
JERSEY STREET CLO, LTD., as Lender By: Massachusetts Financial Services Company (JLX), its Collateral Manager | ||||
By: | /s/ David Cobey | |||
Name: | David Cobey | |||
Title: | Investment Officer | |||
JP MORGAN CHASE BANK, N.A., as Lender | ||||
By: | /s/ Tony Yung | |||
Name: | Tony Yung | |||
Title: | Vice President | |||
KATONAH X CLO LTD., as Lender | ||||
By: | /s/ Daniel Gilligan | |||
Name: | Daniel Gilligan | |||
Title: | Authorized Officer, Katonah Debt Advisors, L.L.C. as Manager | |||
KBC BANK, N.V., as Lender | ||||
By: | /s/ William Cavanaugh | |||
Name: | William Cavanaugh | |||
Title: | Vice President | |||
By: | /s/ Thomas G. Jackson | |||
Name: | Thomas G. Jackson | |||
Title: | First Vice President |
KC CLO II PLC, as Lender | ||||
By: | /s/ Melanie Harries | |||
Name: | Melanie Harries | |||
Title: | Assistant Vice President | |||
KEYSTONE NAZARETH BANK & TRUST COMPANY, a division of NATIONAL PENN BANK, as Lender | ||||
By: | /s/ Kevin D. Brown | |||
Name: | Kevin D. Brown | |||
Title: | Vice President | |||
LEHMAN COMMERCIAL PAPER INC., as Lender | ||||
By: | /s/ Ritman Bhalla | |||
Name: | Ritman Bhalla | |||
Title: | Authorized Signatory | |||
MARLBOROUGH STREET CLO, LTD., as Lender By: Massachusetts, Financial Services Company (MLX) | ||||
By: | /s/ David Cobey | |||
Name: | David Cobey | |||
Title: | Investment Officer |
MB FINANCIAL BANK, N.A. (f/n/a OAK BROOK BANK) as Lender | ||||
By: | /s/ Henry Wessel | |||
Name: | Henry Wessel | |||
Title: | Vice President | |||
MIZUHO CORPORATE BANK, LTD., as Lender | ||||
By: | /s/ Robert Gallagher | |||
Name: | Robert Gallagher | |||
Title: | Authorized Signatory | |||
MORGAN STANLEY SENIOR FUNDING, INC, as Lender | ||||
By: | /s/ Janine Haas | |||
Name: | Janine Haas | |||
Title: | Vice President | |||
NATIONAL CITY BANK, as Lender | ||||
By: | /s/ Tom Gurbach | |||
Name: | Tom Gurbach | |||
Title: | Vice President |
NATIXIS, as Lender | ||||
By: | /s/ Christian Paragot-Rieutort | |||
Name: | Christian Paragot-Rieutort | |||
Title: | Associate Director | |||
By: | /s/ Frank H. Madden, Jr. | |||
Name: | Frank H. Madden, Jr. | |||
Title: | Managing Director | |||
NEW YORK LIFE INSURANCE COMPANY, as Lender | ||||
By: | /s/ Elizabeth Standbridge | |||
Name: | Elizabeth Standbridge | |||
Title: | Corporate Vice President | |||
NYLIM INSTITUTIONAL FLOATING RATE FUND L.P., as Lender By: New York Life Investment Management LLC, its Investment Manager | ||||
By: | /s/ Elizabeth Standbridge | |||
Name: | Elizabeth Standbridge | |||
Title: | Vice President | |||
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION, as Lender By: New York Life Investment Management LLC, its Investment Manager | ||||
By: | /s/ Elizabeth Standbridge | |||
Name: | Elizabeth Standbridge | |||
Title: | Vice President | |||
MAINSTAY FLOATING RATE FUND, a series of ECLIPSE FUNDS, INC., as Lender By: New York Life Investment Management LLC, its Investment Manager | ||||
By: | /s/ Elizabeth Standbridge | |||
Name: | Elizabeth Standbridge | |||
Title: | Vice President | |||
MAINSTAY VP FLOATING RATE PORTFOLIO, a series of MAINSTAY VP SERIES FUND, INC., as Lender By: New York Life Investment Management LLC, its Investment Manager | ||||
By: | /s/ Elizabeth Standbridge | |||
Name: | Elizabeth Standbridge | |||
Title: | Vice President | |||
THE NORINCHUKIN BANK, NEW YORK BRANCH, as Lender | ||||
By: | /s/ Noritsugu Sato | |||
Name: | Noritsugu Sato | |||
Title: | General Manager | |||
THE NORINCHUKIN BANK, NEW YORK BRANCH through State Street Bank and Trust Company N.A. as Fiduciary Custodian, as Lender By: Easton Vance Management, Attorney-in-fact | ||||
By: | /s/ Michael B. Botthof | |||
Name: | Michael B. Botthof | |||
Title: | Vice President | |||
NORTHWEST FARM CREDIT SERVICES, PCA, as Lender | ||||
By: | /s/ Casey Kinzer | |||
Name: | Casey Kinzer | |||
Title: | Account Manager | |||
PARK AVENUE LOAN TRUST, as Lender By: TCW Advisors as its Portfolio Manager | ||||
By: | /s/ Julia K. Haramis | |||
Name: | Julia K. Haramis | |||
Title: | Vice President | |||
By: | /s/ Gil Tollinchi | |||
Name: | Gil Tollinchi | |||
Title: | Senior Vice President | |||
PB CAPITAL CORPORATION, as Lender | ||||
By: | /s/ Ronni J. Leopold | |||
Name: | Ronni J. Leopold | |||
Title: | Vice President | |||
By: | /s/ Christoph A. Belanger | |||
Name: | Christoph A. Belanger | |||
Title: | Assistant Vice President | |||
PEOPLES UNITED BANK, as Lender | ||||
By: | /s/ David K. Sherrill | |||
Name: | David K. Sherrill | |||
Title: | First Vice President | |||
PNC BANK, NATIONAL ASSOCIATION, as Lender | ||||
By: | /s/ Dorothy G. W. Brailer | |||
Name: | Dorothy G.W. Brailer | |||
Title: | Vice President | |||
PUTNAM BANK LOAN FUND (CAYMAN) MASTER FUND, a series of the PUTNAM OFFSHORE MASTER SERIES TRUST, as Lender By: The Putnam Advisory Company, LLC | ||||
By: | /s/ Angela Patel | |||
Name: | Angela Patel | |||
Title: | Vice President | |||
PUTNAM FLOATING RATE INCOME FUND, as Lender | ||||
By: | /s/ Beth Mazor | |||
Name: | Beth Mazor | |||
Title: | Vice President | |||
RABOBANK, NEW YORK BRANCH (COOPERATIEVE CENTRALE RAIFFEISEN- BOERENLEENBANK B.A.), as Lender | ||||
By: | /s/ Janet Lee | |||
Name: | Janet Lee | |||
Title: | Vice President | |||
By: | /s/ Rebecca O. Morrow | |||
Name: | Rebecca O. Morrow | |||
Title: | Executive Director | |||
RZB FINANCE LLC, as Lender | ||||
By: | /s/ John A. Valiska | |||
Name: | John A. Valiska | |||
Title: | First Vice President | |||
By: | /s/ Shirley Ritch | |||
Name: | Shirley Ritch | |||
Title: | Assistant Vice President | |||
SOVEREIGN BANK, as Lender | ||||
By: | /s/ Ravi Kacker | |||
Name: | Ravi Kacker | |||
Title: | Senior Vice President | |||
SUMITOMO MITSUI BANKING CORPORATION, as Lender | ||||
By: | /s/ David A. Buck | |||
Name: | David A. Buck | |||
Title: | Senior Vice President | |||
THE SUMITOMO TRUST AND BANKING CO., LTD., NEW YORK BRANCH, as Lender | ||||
By: | /s/ Elizabeth A. Quirk | |||
Name: | Elizabeth A. Quirk | |||
Title: | Vice President | |||
SUNAMERICA LIFE INSURANCE COMPANY, as Lender By: AIG Global Investment Corp., Inc, its Investment Advisor | ||||
By: | /s/ W. Jeffrey Baxter | |||
Name: | W. Jeffrey Baxter | |||
Title: | Managing Director | |||
SUNTRUST BANK, as Lender | ||||
By: | /s/ M. Gabe Bonfield | |||
Name: | M. Gabe Bonfield | |||
Title: | Vice President | |||
UBS AG, STAMFORD BRANCH, as Lender | ||||
By: | /s/ Benjamin Edwards | |||
Name: | Benjamin Edwards | |||
Title: | Associate Director, Banking Products Services, US | |||
By: | /s/ Frank Luzzi | |||
Name: | Frank Luzzi | |||
Title: | Associate Director, Banking Products Services, US | |||
UNION BANK OF CALIFORNIA, N.A., as Lender | ||||
By: | /s/ Michael Stahl | |||
Name: | Michael Stahl | |||
Title: | Assistant Vice President | |||
UNITED FCS, PCA (f/k/a FARM CREDIT SERVICES OF MINNESOTA VALLEY, PCA) d/b/a FCS COMMERCIAL FINANCE GROUP, as Lender | ||||
By: | /s/ M. Lisa Caswell | |||
Name: | Lisa Caswell | |||
Title: | Assistant Vice President | |||
UNITED OVERSEAS BANK LIMITED, NEW YORK, as Lender | ||||
By: | /s/ George Lim | |||
Name: | George Lim | |||
Title: | SVP & GM | |||
By: | /s/ Mario Sheng | |||
Name: | Mario Sheng | |||
Title: | AVP | |||
U.S. AGBANK, FCB, as Disclosed Agent | ||||
By: | /s/ Greg E. Somerhalder | |||
Name: | Greg E. Somerhalder | |||
Title: | Vice President | |||
U.S. BANK NATIONAL ASSOCIATION, as Lender | ||||
By: | /s/ James D. Pegues | |||
Name: | James D. Pegues | |||
Title: | Vice President | |||
VERITAS CLO I, LTD, as Lender | ||||
By: | /s/ John T. Spellman | |||
Name: | John T. Spellman | |||
Title: | Attorney-in-Fact | |||
VERITAS CLO II, LTD, as Lender | ||||
By: | /s/ John T. Spellman | |||
Name: | John T. Spellman | |||
Title: | Attorney-in-Fact | |||
VITESSE CLO LTD., as Lender By: TCW Advisors as its Portfolio Manager | ||||
By: | /s/ Julia K. Haramis | |||
Name: | Julia K. Haramis | |||
Title: | Vice President | |||
By: | /s/ Gil Tollinchi | |||
Name: | Gil Tollinchi | |||
Title: | Senior Vice President | |||
WACHOVIA BANK, NATIONAL ASSOCIATION, as Lender | ||||
By: | /s/ Beth Rue | |||
Name: | Beth Rue | |||
Title: | Vice President | |||
WELLS FARGO BANK N.A., as Lender | ||||
By: | /s/ Margarita Chichioco | |||
Name: | Margarita Chichioco | |||
Title: | Senior Vice President | |||
WESTLB AG, NEW YORK BRANCH, as Lender | ||||
By: | /s/ Steven Berman | |||
Name: | Steven Berman | |||
Title: | Director | |||
By: | /s/ Brendan McGlynn | |||
Name: | Brendan McGlynn | |||
Title: | Manager | |||
WILLOW FINANCIAL BANK, as Lender | ||||
By: | /s/ Tara M. Handforth | |||
Name: | Tara M. Handforth | |||
Title: | Vice President | |||
YORKVILLE CBNA LOAN FUNDING LLC, for itself or as agent for YORKVILLE CFPI LOAN FUNDING LLC, as Lender | ||||
By: | /s/ Bernard Marasa | |||
Name: | Bernard Marasa | |||
Title: | Attorney-in-Fact | |||
CONSENT
Dated as of April 25, 2008
Each of the undersigned, (a) as Guarantor under (i) in the case of each of the undersigned other than Del Monte Food Company (Holdings), the Subsidiary Guaranty dated February 8, 2005 (as amended, the Subsidiary Guaranty) and (i) in the case of Holdings, the Guaranty made by Holdings under Article X of the Credit Agreement (as defined below) (the DMFC Guaranty), in each case, in favor of the Secured Parties referred to in the Credit Agreement referred to in the foregoing Amendment (the Credit Agreement) and (b) as Grantor under the Security Agreement dated February 8, 2005 (as amended through the date hereof, the Security Agreement) to Bank of America, N.A. as Collateral Agent for such Secured Parties, hereby consents to such Amendment and hereby confirms and agrees that (A) notwithstanding the effectiveness of such Amendment, each of (1) in the case of each of the undersigned other than Holdings, the Subsidiary Guaranty and (2) in the case of Holdings, the DMFC Guaranty is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects, except that, on and after the effectiveness of such Amendment, each reference in the Subsidiary Guaranty, the DMFC Guaranty or the Security Agreement to the Credit Agreement, thereunder, thereof or words of like import shall mean and be a reference to the Credit Agreement, as amended by such Amendment and (B) the Collateral Documents to which each of the undersigned is a party and all of the Collateral described therein do, and shall continue to, secure the payment of all of the Secured Obligations. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Credit Agreement.
DEL MONTE FOODS COMPANY | ||||
By: | /s/ David L. Meyers | |||
Name: | David L. Meyers | |||
Title: Executive Vice President, Administration and Chief Financial Officer | ||||
STAR-KIST SAMOA, INC. | ||||
By: | /s/ David L. Meyers | |||
Name: David L. Meyers | ||||
Title: President | ||||
MARINE TRADING PACIFIC, INC. | ||||
By: | /s/ David L. Meyers | |||
Name: David L. Meyers | ||||
Title: President | ||||
THE MEOW MIX COMPANY, LLC By: Del Monte Corporation, its sole member | ||||
By: | /s/ David L. Meyers | |||
Name: | David L. Meyers | |||
Title: Executive Vice President, Administration and Chief Financial Officer | ||||
MEOW MIX DECATUR PRODUCTION I, LLC By: Del Monte Corporation, its sole member | ||||
By: | /s/ David L. Meyers | |||
Name: | David L. Meyers | |||
Title: Executive Vice President, Administration and Chief Financial Officer | ||||