FIRST AMENDMENT (this Amendment), dated as of May 27, 2020, to the 364-Day Credit Agreement, dated as of March 17, 2020, among FEDEX CORPORATION, a Delaware corporation (the Borrower), the several lenders party thereto (the Lenders), JPMORGAN CHASE BANK, N.A., as administrative agent (in such capacity, the Administrative Agent) and each other party thereto (as amended, restated, supplemented or otherwise modified prior to the date hereof, the Credit Agreement).
W I T N E S S E T H :
WHEREAS, the Borrower, the Lenders and the Administrative Agent originally entered into the Credit Agreement, pursuant to which the Lenders made and may make certain loans and other extensions of credit to the Borrower;
WHEREAS, the Borrower and the Lenders wish to make certain amendments to the Credit Agreement as described herein; and
WHEREAS, in furtherance thereof, each party hereto hereby consents to the modifications to the Credit Agreement as set forth in Section 2 below (the Credit Agreement, as hereby modified by this Amendment, the Amended Credit Agreement).
NOW, THEREFORE, the parties hereto hereby agree as follows:
SECTION 1. Defined Terms. Unless otherwise defined herein, terms defined in the Amended Credit Agreement and used herein shall have the meanings given to them in the Amended Credit Agreement.
SECTION 2. Amendments. The Borrower, the Lenders and the Administrative Agent agree that the Credit Agreement is, effective as of the First Amendment Effective Date (as defined below), hereby amended as follows:
(a) New definitions are hereby incorporated to the Defined Terms in Section 1.01 of the Credit Agreement in alphabetical order as follows:
Covenant Relief Period means the period from the First Amendment Effective Date to and including May 31, 2021.
First Amendment means the First Amendment to this Agreement dated as of May 27, 2020.
First Amendment Effective Date has the meaning set forth in Section 3 of this Amendment.
Short Term Debt means, as of any date with respect to any Person, all liabilities of such Person outstanding on such date which would in accordance with GAAP be classified as short term debt of such Person (including, without limitation, finance lease obligations of such Person).