SECOND AMENDMENT TO NOTE PURCHASE AGREEMENT

Contract Categories: Business Finance - Note Agreements
EX-4.11 3 a04-8460_1ex4d11.htm EX-4.11

EXHIBIT 4.11

 

SECOND AMENDMENT TO NOTE PURCHASE AGREEMENT

 

This SECOND AMENDMENT TO NOTE PURCHASE AGREEMENT dated as of June 30, 2004 (this “Amendment”), among AFFINITY GROUP, INC. (the “Borrower”), THE GUARANTORS PARTY HERETO (the “Guarantors”), THE LENDERS PARTY HERETO (the “Lenders”), CANADIAN IMPERIAL BANK OF COMMERCE, as Syndication Agent (the “Syndication Agent”), CANADIAN IMPERIAL BANK OF COMMERCE (“CIBC”), as Administrative Agent (the “Administrative Agent”), and GENERAL ELECTRIC CAPITAL CORPORATION , as Documentation Agent (the “Documentation Agent” and together with the Administrative Agent and the Syndication Agent, the “Agents”).

 

WHEREAS, the Note Purchase Agreement (as defined below) provides that the Lenders may make Term Loans to the Borrower; and

 

WHEREAS, the Credit Parties wish to amend the Note Purchase Agreement to permit the Borrower and the other Credit Parties to permit additional transactions with Affiliates;

 

NOW, THEREFORE, in consideration of the foregoing and the agreements contained herein, the parties hereby agree as follows:

 

1.             Reference to Note Purchase Agreement.  Reference is made to the Amended and Restated Note Purchase Agreement dated as of June 24, 2003, as amended by the First Amendment to the Note Purchase Agreement dated as of February 18, 2004, among the Borrower, the Guarantors, the Lenders, the Syndication Agent, the Administrative Agent and the Documentation Agent (as amended on or prior to the date hereof and as it may be further amended or amended and restated from time to time, the “Note Purchase Agreement”).  Capitalized terms used herein which are defined in the Note Purchase Agreement have the same meanings herein as therein, except to the extent that such meanings are amended hereby.

 

2.             Amendment to Note Purchase Agreement.  The Credit Parties, the Lenders, and the Agents agree that Section 7.7 of the Note Purchase Agreement is hereby amended, effective as of the date hereof, by deleting the reference to “$2,000,000” in clause (v) of the proviso at the end of said section and replacing it with “$10,000,000.”

 

3.             No Default; Representations and Warranties, etc.  The Credit Parties hereby confirm that: (a) the representations and warranties of the Credit Parties contained in Article 4 of the Note Purchase Agreement are true on and as of the date hereof as if made on such date; (b) the Credit Parties are in compliance in all material respects with all of the terms and provisions set forth in the Note Purchase Agreement on their part to be observed or performed thereunder; and (c) after giving effect to this Amendment, no Event of Default, nor any event which with the giving of notice or expiration of any applicable grace period or both would constitute such an Event of Default, shall have occurred and be continuing.

 

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4.             Conditions to this Amendment. This Amendment shall not become effective until the date on which each of the following conditions is satisfied or waived in writing by the Required Senior Lenders:

 

Counterparts of Amendment.  The Administrative Agent shall have received from the Credit Parties and the Required Senior Lenders either (i) a counterpart of this Amendment signed on behalf of the Lenders which are parties to the Note Purchase Agreement and an amendment to the Credit Agreement signed on behalf of the Lenders which are parties to the Credit Agreement or (ii) written evidence satisfactory to the Administrative Agent (which may include telecopy transmission of a signed signature page of this Amendment) that such parties have signed counterparts of such Agreements.

 

Other Documents.  The Administrative Agent shall have received such other documents as any Agent or Special Counsel shall have reasonably requested.

 

Expenses.  The Administrative Agent shall have received all fees and other amounts due and payable on or prior to the date hereof, including, to the extent invoiced, all reasonable expenses, including legal fees and disbursements incurred by the Administrative Agent in connection with this Amendment and the transactions contemplated hereby and the reimbursement or payment of all other out-of-pocket expenses required to be reimbursed or paid by the Borrower under the Note Purchase Agreement.

 

5.             Miscellaneous.

 

Except to the extent specifically amended or waived hereby, the Note Purchase Agreement, the Loan Documents and all related documents shall remain in full force and effect.  Whenever the terms or sections amended hereby shall be referred to in the Note Purchase Agreement, Loan Documents or such other documents (whether directly or by incorporation into other defined terms), such defined terms shall be deemed to refer to those terms or sections as amended by this Amendment.  The foregoing waivers shall apply solely to the provisions of the Note Purchase Agreement specified herein for the periods and purposes specified herein.  Nothing herein shall be deemed to constitute a modification, amendment or waiver of any other term or condition of the Note Purchase Agreement.

 

This Amendment may be executed in any number of counterparts, each of which, when executed and delivered, shall be an original, but all counterparts shall together constitute one instrument.

 

This Amendment shall be governed by the laws of the Commonwealth of Massachusetts and shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

 

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IN WITNESS WHEREOF, the parties hereto have executed this Amendment which shall be deemed to be a sealed instrument as of the date first above written.

 

 

BORROWER

 

 

 

AFFINITY GROUP, INC.

 

 

 

 

 

By:

/s/ Thomas F. Wolfe

 

 

 

Name:

Thomas F. Wolfe

 

 

Title:

Sr. Vice President

 

 

 

 

 

SUBSIDIARIES/GUARANTORS

 

 

 

AFFINITY ADVERTISING, LP

 

 

 

By:

VBI, INC., its General Partner

 

 

 

By:

/s/ Thomas F. Wolfe

 

 

 

Name:

Thomas F. Wolfe

 

 

Title:

Sr. Vice President

 

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AFFINITY BROKERAGE, INC.

 

AFFINITY ROAD AND TRAVEL CLUB, INC.

 

CAMP COAST TO COAST, INC.

 

CAMPING REALTY, INC.

 

CAMPING WORLD, INC.

 

CAMPING WORLD INSURANCE SERVICES OF NEVADA, INC.

 

COAST MARKETING GROUP, INC.

 

CWI, INC.

 

CW MICHIGAN, INC.

 

EHLERT PUBLISHING GROUP, INC.

 

GOLF CARD INTERNATIONAL CORP.

 

GOLF CARD RESORT SERVICES, INC.

 

GSS ENTERPRISES, INC.

 

POWER SPORTS MEDIA, INC.

 

TL ENTERPRISES, INC.

 

VBI, INC.

 

 

 

 

 

By:

/s/ Thomas F. Wolfe

 

 

 

Name:

Thomas F. Wolfe

 

 

Title:

Sr. Vice President

 

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AGREEMENT OF HOLDING COMPANY AND

 

RATIFICATION OF NONRECOURSE GUARANTY

 

The undersigned hereby agrees to the provisions of Section 2 and 3 and as guarantor hereby acknowledges and consents to the foregoing Amendment as of the date hereof, and agrees that the Amended and Restated Nonrecourse Guaranty and Pledge Agreement dated as of June 24, 2003 remains in full force and effect, and the undersigned confirms and ratifies all of its obligations thereunder.

 

 

AGI HOLDING CORP.

 

 

 

 

 

By:

/s/ 

Paul Schedler

 

 

 

Name:

Paul Schedler

 

 

Title:

Vice President

 

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ADMINISTRATIVE AGENT and

 

SYNDICATION AGENT

 

 

 

 

 

CANADIAN IMPERIAL BANK OF
COMMERCE, as Administrative Agent and
Syndication Agent

 

 

 

By:

/s/ Jonathan Rabinowitz

 

 

 

Name:

Jonathan Rabinowitz

 

 

Title:

CIBC World Markets Corp. As Agent

 

 

 

LENDER

 

 

 

 

 

APEX (IDM) CDO I, LTD.

 

ELC (CAYMAN) LTD.

 

ELC (CAYMAN) LTD. CDO SERIES 1999-I

 

ELC (CAYMAN) LTD. 1999-II

 

ELC (CAYMAN) LTD. 1999-III

 

ELC (CAYMAN) LTD. 2000-I

 

TRYON CLO LTD. 2000-I

 

By: David L. Babson & Company & Company Inc.
as Collateral Manager

 

 

 

By:

/s/ Adrienne Musgnug

 

 

 

Name: 

Adrienne Musgnug

 

 

Title:

Managing Director

 

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LENDER

 

 

 

 

 

BABSON CLO LTD. 2003-i

 

By: David L. Babson & Company Inc. as Collateral
Manager

 

 

 

By:

/s/ 

Adrienne Musgnug

 

 

 

Name:

Adrienne Musgnug

 

 

Title:

Managing Director

 

 

 

 

 

LENDER

 

 

 

By Callidus Debt Partners CLO Fund II, Ltd.

 

By:

Its Collateral Manager,
Callidus Capital Management, LLC

 

 

 

By:

/s/ 

Mavis Taintor

 

 

 

Name:

Mavis Taintor

 

 

Title:

Managing Director

 

 

 

 

 

Denali Capital LLC, managing member of DC
Funding Partners, portfolio manager for DENALI
CAPITAL CLO I, LTD., or an affiliate

 

 

 

By:

/s/ 

Charles A. Stearns

 

 

 

Name:

Charles A. Stearns

 

 

Title:

Vice President

 

 

 

Denali Capital LLC, managing member of DC
Funding Partners, portfolio manager for
DENALI CAPITAL CLO III, LTD., or an affiliate

 

 

 

By:

/s/ 

Charles A. Stearns

 

 

 

Name:

Charles A. Stearns

 

 

Title:

Vice President

 

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LENDER

 

 

 

ELF Funding Trust III

 

By:

New York Life Investment Management
LLC, as Attorney-in-Fact

 

 

 

By:

/s/ Robert H. Dial

 

 

 

Name:

Robert H. Dial

 

 

Title:

Director

 

 

 

 

 

New York Life Insurance and Annuity Corporation

 

 

 

By:

New York Life Investment Management
LLC, its Investment Manager

 

 

 

By:

/s/ Robert H. Dial

 

 

 

Name:

Robert H. Dial

 

 

Title:

Director

 

 

 

 

 

NYLIM Flatiron CLO 2003-1 Ltd.

 

 

 

By:

New York Life Investment Management
LLC, as Collateral Manager and Attorney-
in-Fact

 

 

 

By:

/s/ Robert H. Dial

 

 

 

Name:

Robert H. Dial

 

 

Title:

Director

 

 

 

 

 

LENDER

 

 

 

Franklin CLO I, Limited

 

 

 

By:

/s/ Richard Hsu

 

 

 

Name:

Richard Hsu

 

 

Title:

Vice President

 

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LENDER

 

 

 

Franklin CLO III, Limited

 

 

 

By:

/s/ 

Richard Hsu

 

 

 

Name:

Richard Hsu

 

 

Title:

Vice President

 

 

 

 

 

LENDER

 

 

 

Franklin CLO IV, Limited

 

 

 

By:

/s/ 

Richard Hsu

 

 

 

Name:

Richard Hsu

 

 

Title:

Vice President

 

 

 

 

 

LENDER

 

 

 

FRANKLIN FLOATING RATE DAILY ACCESS
FUND

 

 

 

By:

/s/ 

Richard Hsu

 

 

 

Name:

Richard Hsu

 

 

Title:

Vice President

 

 

 

LENDER

 

 

 

FRANKLIN FLOATING RATE MASTER SERIES

 

 

 

By:

/s/ 

Richard Hsu

 

 

 

Name:

Richard Hsu

 

 

Title:

Vice President

 

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LENDER

 

 

 

FRANKLIN FLOATING RATE TRUST

 

 

 

By:

/s/ 

Richard Hsu

 

 

 

Name:

Richard Hsu

 

 

Title:

Vice President

 

 

 

 

 

LENDER

 

 

 

GoldenTree High Yield Master Fund, Ltd.

 

By: GoldenTree Asset Management, LP

 

 

 

By:

/s/ 

Frederick S. Haddad

 

 

 

Name:

Frederick S. Haddad

 

 

Title:

Portfolio Manager

 

 

 

 

 

LENDER

 

 

 

GoldenTree High Yield Opportunities I, LP.

 

By: GoldenTree Asset Management, LP

 

 

 

By:

/s/ 

Frederick S. Haddad

 

 

 

Name:

Frederick S. Haddad

 

 

Title:

Portfolio Manager

 

 

 

 

 

LENDER

 

 

 

GoldenTree High Yield Opportunities II, LP.

 

By: GoldenTree Asset Management, LP

 

 

 

By:

/s/ 

Frederick S. Haddad

 

 

 

Name:

Frederick S. Haddad

 

 

Title:

Portfolio Manager

 

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LENDER

 

 

 

GoldenTree Loan Opportunities I, Limited

 

By: GoldenTree Asset Management, LP

 

 

 

By:

/s/ 

Frederick S. Haddad

 

 

 

Name:

Frederick S. Haddad

 

 

Title:

Portfolio Manager

 

 

 

 

 

LENDER

 

 

 

GoldenTree Loan Opportunities II, Limited

 

By: GoldenTree Asset Management, LP

 

 

 

By:

/s/ 

Frederick S. Haddad

 

 

 

Name:

Frederick S. Haddad

 

 

Title:

Portfolio Manager

 

 

 

 

 

LENDER

 

 

 

Hamilton CDO, LTD.

 

By:

Stanfield Capital Partners LLC
As its Collateral Manager

 

 

 

By:

/s/ 

Christopher E. Jansen

 

 

 

Name:

Christopher E. Jansen

 

 

Title:

Managing Partner

 

 

 

 

 

LENDER

 

 

 

Landmark CDO Limited

 

 

 

By:

/s/ 

Alex Baldwin

 

 

 

Name:

Alex Baldwin

 

 

Title:

Authorized Signatory

 

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LENDER

 

 

 

Landmark II CDO Limited

 

 

 

By:

/s/ 

Alex Baldwin

 

 

 

Name:

Alex Baldwin

 

 

Title:

Authorized Signatory

 

 

 

LENDER

 

 

 

MAPLEWOOD (CAYMAN) LIMITED

 

By:  David L. Babson & Company Inc. under
delegated authority from Massachusetts
Mutual Life Insurance Company as Investment
Manager

 

 

 

By:

/s/ 

Adrienne Musgnug

 

 

 

Name:

Adrienne Musgnug

 

 

Title:

Managing Director

 

 

 

LENDER

 

 

 

MASSACHUSETTS MUTUAL LIFE INSURANCE
COMPANY

 

By:  David L. Babson & Company Inc. as
Investment Adviser

 

 

 

 

 

By:

/s/ 

Adrienne Musgnug

 

 

 

Name:

Adrienne Musgnug

 

 

Title:

Managing Director

 

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LENDER

 

 

 

SIMSBURY CLO, LIMITED

 

By:  David L. Babson & Company Inc. under
delegated authority from Massachusetts
Mutual Life Insurance Company as Collateral
Manager

 

 

 

 

 

By:

/s/ 

Adrienne Musgnug

 

 

 

Name:

Adrienne Musgnug

 

 

Title:

Managing Director

 

 

 

 

 

LENDER

 

 

 

Stanfield Carrera CLO, Ltd.

 

By:

Stanfield Capital Partners LLC as its Asset
Manager

 

 

 

 

 

By:

/s/ 

Christopher E. Jansen

 

 

 

Name:

Christopher E. Jansen

 

 

Title:

Managing Partner

 

 

 

 

 

LENDER

 

 

 

SUFFIELD CLO, LIMITED

 

By:

David L. Babson & Company Inc. as
Collateral Manager

 

 

 

 

 

By:

/s/ 

Adrienne Musgnug

 

 

 

Name:

Adrienne Musgnug

 

 

Title:

Managing Director

 

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LENDER

 

 

 

SunAmerica Senior Floating Rage Fund Inc.

 

By:

Stanfield Capital Partners LLC as
subadvisor

 

 

 

 

 

By:

/s/ 

Christopher E. Jansen

 

 

 

Name:

Christopher E. Jansen

 

 

Title:

Managing Partner

 

 

 

 

 

LENDER

 

 

 

UNION BANK OF CALIFORNIA, N.A.

 

 

 

By:

/s/ 

Richard J. Salmon

 

 

 

Name:

Richard J. Salmon

 

 

Title:

Vice President

 

 

 

LENDER

 

 

 

Venture CDO 2002, Limited

 

 

 

By its investment advisor MJX Asset
Management LLC

 

 

 

By:

/s/ Michael G. Regan

 

 

 

Name:

Michael G. Regan

 

 

Title:

Director

 

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LENDER

 

 

 

Venture II CDO, Limited

 

 

 

By its investment advisor MJX Asset
Management LLC

 

 

 

By:

/s/ Michael G. Regan

 

 

 

Name:

Michael G. Regan

 

 

Title:

Director

 

 

 

LENDER

 

 

 

Windsor Loan Funding, Limited

 

By:

Stanfield Capital Partners LLC as its
Investment Manager

 

 

 

By:

/s/ Christopher E. Jansen

 

 

 

Name:

Christopher E. Jansen

 

 

Title:

Managing Partner

 

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