Letter Amendment No. 1 dated as of August 26, 2019 to the Credit Agreement dated as of October 17, 2018
EXECUTION COPY
LETTER AMENDMENT NO. 1
Dated as of August 26, 2019
To the banks, financial institutions
and other institutional lenders
(collectively, the “Lenders”) parties
to the Credit Agreement referred to
below and to Bank of America, N.A., as administrative agent
(the “Administrative Agent”) for the Lenders
Ladies and Gentlemen:
It is hereby agreed by you and us as follows:
The Credit Agreement is, effective as of the date of this Letter Amendment, hereby amended as follows:
(a) The definition of “Applicable Percentage” in Section 1.01 is amended by adding to the end of the embedded definition of “Debt Rating” therein the following:
provided further, that the Debt Rating of any rating agency shall be disregarded upon the request of the EWI, which request shall certify that (x) such rating was not issued pursuant to a contractual arrangement with EWI and (y) EWI did not participate or cooperate in analysis by such rating agency in relation to such Debt Rating
(b) The definition of “Credit Documents” in Section 1.01 is amended in full to read as follows:
(c) Section 1.01 is further amended by adding thereto in appropriate alphabetical order the following new definitions:
“BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.
“Default Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.
“QFC” has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).
“QFC Credit Support” has the meaning specified in Section 11.21.
(d) Section 2.01(a)(iii) is amended in full to read as follows:
(iii) USD Swingline Loans. Unless (i) any USD Lender is a Defaulting Lender and (ii) the applicable USD Swingline Lender has not entered into arrangements satisfactory to it with the applicable Borrowers or such Defaulting Lender to eliminate such USD Swingline Lender’s exposure with respect thereto, the USD Swingline Lenders severally agree, subject to the terms of any Autoborrow Agreement, to make revolving credit loans (the “USD Swingline Loans”) to the applicable Borrowers in Dollars on any Business Day in an aggregate principal amount of up to FIFTY MILLION DOLLARS ($50,000,000) (as such amount may be decreased in accordance with the provisions hereof, the “USD Swingline Sublimit”), provided that the Outstanding Amount of USD Swingline Loans shall not exceed the USD Swingline Sublimit;
(e) Section 2.01(a)(vi) is amended by adding to the end of the first sentence thereof the following proviso:
(g) Section 2.05(b) is amended in full to read as follows:
(b) USD Swingline Loans. At any time the Autoborrow Agreement is in effect, the USD Swingline Loans shall be repaid in accordance with the terms of the Autoborrow Agreement. At any time the Autoborrow Agreement is not in effect the Outstanding Amount of USD Swingline Loans shall be repaid in full on the earlier to occur of (i) the date of demand by the applicable USD Swingline Lender, and (ii) the Termination Date.
(h) Section 2.06(a)(ii) is amended by adding to the beginning of the first sentence thereof the phrase “At any time the Autoborrow Agreement is not in effect,”
(j) Section 5.02(c) is amended in full to read as follows:
Each Request for Credit Extension (other than a Loan Notice requesting only a conversion of Loans to other Types of Loans, or a continuation of Fixed LIBOR Rate Loans) submitted by the Borrowers and each USD Swingline Borrowing pursuant to an Autoborrow Agreement shall be deemed to be a representation and warranty by the Borrowers that the conditions specified in Sections 5.02(a) and (b) have been satisfied on and as of the date of the applicable Credit Extension.
(l) Section 11.01(d) is amended in full to read as follows:
(d) (i) unless also consented to in writing by the affected Swingline Lender, no such amendment, waiver or consent shall affect the rights or duties of such Swingline Lender under this Credit Agreement and (ii) the Autoborrow Agreement and any fee letters executed in connection therewith may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto;
(m) A new Section 11.21 is added to read as follows:
This Letter Amendment shall become effective as of the date first above written when, and only when the Administrative Agent shall have received counterparts of this Letter Amendment executed by the undersigned and all of the Lenders. This Letter Amendment is subject to the provisions of Section 11.01 of the Credit Agreement.
The Credit Agreement and the Notes, as specifically amended by this Letter Amendment, are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed. The execution, delivery and effectiveness of this Letter Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under the Credit Agreement, nor constitute a waiver of any provision of the Credit Agreement.
If you agree to the terms and provisions hereof, please evidence such agreement by executing and returning at a counterpart of this Letter Amendment to Susan L. Hobart, Shearman & Sterling LLP, 599 Lexington Avenue, New York, New York 10022.
This Letter Amendment shall be governed by, and construed in accordance with, the law of the State of New York.
Very truly yours,
EURONET WORLDWIDE, INC., as a Borrower and a Guarantor
By /s/ Rick Weller
Name:
Title:
Agreed as of the date first above written:
BANK OF AMERICA, N.A.,
as Administrative Agent
By /s/ Liliana Claar
Name: Liliana Claar
Title: Vice President
BANK OF AMERICA, N.A.,
as Lender
By /s/ Alok Jain
Name: Alok Jain
Title: Senior Vice President
WELLS FARGO BANK, NATIONAL ASSOCIATION
By /s/ Brian Buck
Name: Brian Buck
Title: Managing Director
U.S. BANK NATIONAL ASSOCIATION
By /s/ Tim Landro
Name: Tim Landro
Title: Vice President
BMO HARRIS BANK, N.A.
By /s/ Andrew Berryman
Name: Andrew Berryman
Title: Vice President
BANK OF MONTREAL,
By /s/ Andrew Berryman
Name: Andrew Berryman
Title: Vice President
BBVA USA, an Alabama banking corporation f/k/a Compass Bank
By /s/ Michael Wendling
Name: Michael Wendling
Title: Senior Vice President
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK
By /s/ Gordon Yip
Name: Gordon Yip
Title: Director
By /s/ Michael Madnick
Name: Michael Madnick
Title: Managing Director
FIFTH THIRD BANK
By /s/ Michael Cortese
Name: Michael Cortese
Title: Vice President
KEYBANK NATIONAL ASSOCIATION
By /s/ Geoff Smith
Name: Geoff Smith
Title: Senior Vice President
LLOYDS BANK CORPORATE MARKETS PLC
By /s/ Kamala Basdeo
Name: Kamala Basdeo
Title: Assistant Vice President
By /s/ Dennis McClellan
Name: Dennis McClellan
Title: Vice President
REGIONS BANK
By /s/ James L. McGovern
Name: James L. McGovern
Title: Managing Director
BARCLAYS BANK PLC
By /s/ Nathalie Majlis Executed in New York
Name: Nathalie Majlis
Title: Director
KBC BANK N.V., NEW YORK BRANCH
By /s/ Jana Sevcikova
Name: Jana Sevcikova
Title: Director
By /s/ Francis X. Payne
Name: Francis X. Payne
Title: Managing Director
ROYAL BANK OF CANADA
By /s/ Theodore Brown
Name: Theodore Brown
Title: Authorized Signatory
BOKF, NA
By /s/ Ryan Humphrey
Name: Ryan Humphrey
Title: VP
CITIZENS BANK & TRUST
By /s/ Janelle Aubrecht
Name: Janelle Aubrecht
Title: Vice President