FIRST AMENDMENT TO FIVE-YEAR CREDIT AGREEMENT

Contract Categories: Business Finance - Credit Agreements
EX-10.14.A 5 dex1014a.htm FIRST AMENDMENT TO THE $370,000,000 FIVE-YEAR CREDIT AGREEMENT First Amendment to the $370,000,000 Five-Year Credit Agreement

Exhibit 10.14.a

FIRST AMENDMENT TO FIVE-YEAR CREDIT AGREEMENT

THIS AMENDMENT (herein so called) is entered into as of May 10, 2006, among FMC TECHNOLOGIES B.V., a private company with limited liability (besloten vennootschap met bepertke aansprakelijkheid) incorporated under the laws of The Netherlands (the “Borrower”), FMC TECHNOLOGIES, INC., a Delaware corporation (the “Parent”), the Lenders (herein so called) party to the Credit Agreement (hereinafter defined) and DnB NOR BANK ASA, as Administrative Agent (as defined in the Credit Agreement) for the Lenders.

The Borrower, the Parent, the Lenders and the Administrative Agent are party to the Five-Year Credit Agreement dated as of November 10, 2005 (the “Credit Agreement”), and have agreed, upon the following terms and conditions, to amend the Credit Agreement in certain respects. Accordingly, for valuable and acknowledged consideration, the Borrower, the Parent, the Lenders and the Administrative Agent agree as follows:

1.          Terms and References. Unless otherwise stated in this Amendment, (a) terms defined in the Credit Agreement have the same meanings when used in this Amendment, and (b) references to “Sections”, “Articles” and “Exhibits” are to the Credit Agreement’s sections, articles and exhibits.

2.          Amendments. The Credit Agreement is amended as follows:

(a)        The definition of Revolving Period contained in Section 1.01 is amended in its entirety to read as follows:

 

Revolving Period means the period commencing on the date of this Agreement and ending on the earlier of (a) the Maturity Date or (b) the Business Day designated in a notice from the Borrower to the Administrative Agent as the last day of the Revolving Period, which notice must be given not less than ten Business Days prior to such last day.”

  

(b)        Section 6.01(b) is amended in its entirety to read as follows:

 

“(b) On or before December 31, 2005 for the fiscal year ended December 31, 2004 and as soon as available but in any event not more than 180 days after the end of each other fiscal year of the Borrower, a balance sheet of the Borrower as of the end of such fiscal year, and the related profit and loss account for such fiscal year, setting forth in each case in comparative form the figures as of the end of and for the previous fiscal year, certified by the managing directors of the Borrower and prepared in a manner consistent with the balance sheets and profit and loss accounts of the Borrower for fiscal years 2002 and 2003 which have been previously delivered to each of the Lenders.”

  

(c)        The reference to Section 6.01(b) contained in Section 6.01(d) is deleted.

3.          Conditions Precedent to Effectiveness. This Amendment shall not be effective until the Administrative Agent receives (a) counterparts of this Amendment executed by the Borrower, the Parent,

 

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  FMC Technologies B.V. Five-Year Credit Agreement


the Lenders and the Administrative Agent, and (b) such other documents, instruments and certificates as the Administrative Agent may reasonably request.

4.          Representations. Each of the Parent and the Borrower (as to itself, and its Subsidiaries only) represents and warrants to the Lenders that as of the date of this Amendment, (a) the representations and warranties contained in Article V are true and correct in all material respects except to the extent that such representations and warranties refer to an earlier date, in which case they were true and correct in all material respects as of such earlier date, (b) no Default or Event of Default has occurred and is continuing, (c) the resolutions and certifications attached as Appendices C, D, E and F to that certain Formalities Certificate of the Borrower dated November 10, 2005, heretofore delivered to the Administrative Agent, have not been modified, amended or rescinded and remain in full force and effect, and (d) the resolutions attached as Exhibits C and D to that certain Certificate of Assistant Secretary of the Parent dated November 10, 2005, heretofore delivered to the Administrative Agent, have not been modified, amended or rescinded and remain in full force and effect.

5.          Ratification of Guaranty. The Parent consents to the amendments to the Credit Agreement effected hereby, agrees that its obligations under the Guaranty are not released, discharged, reduced or otherwise affected by such amendments and ratifies and confirms all of its obligations under the Guaranty and the other Loan Documents to which it is a party.

6.          Effect of Amendment. This Amendment is a Loan Document. Except as expressly modified and amended by this Amendment, all of the terms, provisions and conditions of the Loan Documents shall remain unchanged and in full force and effect. The Loan Documents and any and all other documents heretofore, now or hereafter executed and delivered pursuant to the terms of the Credit Agreement are hereby amended so that any reference to the Credit Agreement shall mean a reference to the Credit Agreement as amended hereby.

7.          Counterparts. This Amendment may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute one and the same instrument.

8.           Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of Illinois.

[REMAINDER OF PAGE INTENTIONALLY BLANK.

SIGNATURE PAGES FOLLOW.]

 

 

 

 

 

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  FMC Technologies B.V. Five-Year Credit Agreement


EXECUTED as of the date first stated above.

 

FMC TECHNOLOGIES B.V.

    

COÖPERATIEVE CENTRALE

 
      

RAIFFEISEN-BOERENLEENBANK B.A.,

 
      

"RABOBANK NEDERLAND", NEW YORK

 

By:

 

/s/ Joseph J. Meyer

 

    

BRANCH, as a Lender

 
 

Joseph J. Meyer, Attorney

        
      

By:

 

/s/ Ivan Rodriguez

 

 
        

Ivan Rodriguez, Vice President

 

FMC TECHNOLOGIES, INC.

        
      

By:

 

/s/ Andrew Sherman

 

 

By:

 

/s/ Joseph J. Meyer

 

      

Andrew Sherman, Associate General

 
 

Joseph J. Meyer, Director, Treasury

      

Counsel

 
 

Operations

        
      

FOKUS BANK ASA, as a Lender

 

DnB NOR BANK ASA, as Administrative Agent

        
      

By:

 

/s/ Ronny Gothesen

 

 

By:

 

/s/ Nikolai A. Nachamkin

 

      

Ronny Gothesen, General Manager

 
 

Nikolai A. Nachamkin, Senior Vice

        
 

President

        
      

JPMORGAN CHASE BANK, NA, as a Lender

 

By:

 

/s/ Tor Ivar Hansen

 

        
 

Tor Ivar Hansen, Assistant Vice President

        
      

By:

 

/s/ Helen A. Carr

 

 
        

Helen A. Carr, Managing Director

 

DnB NOR BANK ASA, as a Lender

        
      

MIZUHO CORPORATE BANK, LTD., as a

 

By:

 

/s/ Nikolai A. Nachamkin

 

    

Lender

   
 

Nikolai A. Nachamkin, Senior Vice

        
 

President

        
      

By:

 

/s/ Robert Gallagher

 

 
        

Robert Gallagher, Senior Vice President

 

By:

 

/s/ Tor Ivar Hansen

 

        
 

Tor Ivar Hansen, Assistant Vice President

        
      

NATIONAL CITY BANK OF THE

 
      

MIDWEST, as a Lender

 

BANK OF AMERICA, N.A., as a Lender

        
      

By:

 

/s/ Jon R. Hinard

 

 

By:

 

/s/ Ronald E. McKaig

 

      

Jon R. Hinard, Senior Vice President

 
 

Ronald E. McKaig, Senior Vice President

        

Signature Page to First Amendment to

FMC Technologies B.V. Five-Year Credit Agreement


ROYAL BANK OF SCOTLAND, PLC, as a Lender

    

U.S. BANK NATIONAL ASSOCIATION, as a Lender

 

By:

 

/s/ Maggan Soderberg

 

    

By:

 

/s/ R. Michael Newton

 

 
 

Maggan Soderberg, Vice President

      

R. Michael Newton, Vice President

 

THE BANK OF TOKYO-MITSUBISHI UFJ,

    

WELLS FARGO BANK, N.A., as a Lender

 

LTD., as a Lender

        
      

By:

 

/s/ Eric R. Hollingsworth

 

 

By:

 

/s/ Kelton Glasscock

 

      

Eric R. Hollingsworth, Vice President

 
 

Kelton Glasscock, Vice President &

        
 

Manager

        
      

WESTLB AG, NEW YORK BRANCH, as a

 
      

Lender

 

THE NORTHERN TRUST COMPANY, as a

        

Lender

        
      

By:

 

/s/ Duncan Robertson

 

 
        

Duncan Robertson, Executive Director

 

By:

 

/s/ Preeti Sullivan

 

        
 

Preeti Sullivan, Vice President

        
      

By:

 

/s/ Rolf Schmitz

 

 
        

Rolf Schmitz, Director

 

 

 

 

 

 

Signature Page to First Amendment to

FMC Technologies B.V. Five-Year Credit Agreement