AMENDMENT NO. 4 TO THE CREDIT AGREEMENT

Contract Categories: Business Finance - Credit Agreements
EX-10.5 2 f40168exv10w5.htm EXHIBIT 10.5 exv10w5
 

Exhibit 10.5


EXECUTION COPY
AMENDMENT NO. 4 TO THE
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. O’Shea    
    Name:  Steven J. O’Shea   
    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 O’Connell    
    Name:  Roisin O’Connell   
    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 O’Connell    
    Name:  Roisin O’Connell   
    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   
 
  PEOPLE’S 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