First Amendment to Credit Agreement among La Quinta Corporation, La Quinta Properties, Inc., and Lenders (March 29, 2002)
La Quinta Corporation and La Quinta Properties, Inc. have entered into an amendment to their existing credit agreement with a group of lenders, represented by Canadian Imperial Bank of Commerce as administrative agent. This amendment updates certain financial covenants, including leverage ratios, minimum EBITDA, and fixed charge coverage ratios, and modifies related definitions. The amendment becomes effective once specific conditions are met, such as delivery of executed documents and payment of fees. The parties confirm they have the authority to enter into this amendment and that all necessary approvals have been obtained.
Exhibit 10.1 LA QUINTA CORPORATION LA QUINTA PROPERTIES, INC. FIRST AMENDMENT TO CREDIT AGREEMENT
This FIRST AMENDMENT TO CREDIT AGREEMENT (this "Amendment") is dated as of March 29, 2002 and entered into by and among La Quinta Corporation (formerly known as Meditrust Operating Company), a Delaware corporation ("La Quinta"), La Quinta Properties, Inc. (formerly known as Meditrust Corporation), a Delaware corporation ("La Quinta Properties," and together with La Quinta, the "Borrowers"), the financial institutions listed on the signature pages hereof ("Lenders"), CANADIAN IMPERIAL BANK OF COMMERCE, as administrative agent for Lenders ("Administrative Agent"), and for purposes of Section 4 hereof, the Credit Support Parties (as defined in Section 4 hereof) listed on the signature pages hereof, and is made with reference to that certain Credit Agreement dated as of June 6, 2001 (the "Credit Agreement"), by and among Borrowers, Lenders and Administrative Agent. Capitalized terms used herein without definition shall have the same meanings herein as set forth in the Credit Agreement.
RECITALS
WHEREAS, Borrowers and Lenders desire to amend the Credit Agreement to (i) amend certain of the financial covenants set forth therein and certain related definitions; and (ii) make certain other amendments as set forth below;
NOW, THEREFORE,
in consideration of the premises and the agreements, provisions and covenants herein contained, the parties hereto agree as follows:Section 1. AMENDMENTS TO THE CREDIT AGREEMENT
1.1 Amendments to Section 1: Provisions Relating to Defined Terms
A.
Subsection 1.1 of the Credit Agreement is hereby amended by deleting from the end of the definition of "Net Worth Adjustment Amount" the reference to ", for any four Fiscal Quarter period then ended on or prior to such date of determination".B.
Subsection 1.1 of the Credit Agreement is hereby further amended by deleting the punctuation mark "." at the end of the definition of "Permitted Reinvestment Capital Expenditures" and substituting in lieu thereof "plus (iii) Capital Expenditures representing the reinvestment of net proceeds from the sale of Lodging Assets, the cumulative amount of which shall not exceed the lesser of (a) the cumulative amount of net sale proceeds from the sale of Lodging Assets actually received since the Closing Date or (b) $50,000,000 per Fiscal Year."1.2 Amendments to Section 6. Borrowers' Affirmative Covenants
Subsection 6.4B of the Credit Agreement is hereby amended by (i) deleting from the end of the first sentence the reference to "which insurance shall in no event provide for materially less coverage than the insurance in effect on the Closing Date" and (ii) deleting from the end of clause (ii) of the second sentence the reference to "from that existing on the Closing Date".
1.3 Amendments to Section 7. Borrowers' Negative Covenants
- Financial Covenants.
"A. Maximum Total Leverage Ratio.
Borrowers shall not permit the Total Leverage Ratio as of the last day of any Fiscal Quarter set forth below to exceed the correlative ratio indicated below:Period Maximum Total Leverage Ratio 1st Fiscal Quarter, Fiscal Year 2002 4.60:1.00 2nd Fiscal Quarter, Fiscal Year 2002 4.60:1.00 3rd Fiscal Quarter, Fiscal Year 2002 4.80:1.00 4th Fiscal Quarter, Fiscal Year 2002 4.60:1.00 1st Fiscal Quarter, Fiscal Year 2003 4.50:1.00 2nd Fiscal Quarter, Fiscal Year 2003 4.00:1.00 3rd Fiscal Quarter, Fiscal Year 2003 4.00:1.00 4th Fiscal Quarter, Fiscal Year 2003 4.00:1.00 1st Fiscal Quarter, Fiscal Year 2004 4.00:1.00 2nd Fiscal Quarter, Fiscal Year 2004 3.75:1.00
and each Fiscal Quarter thereafter"
"B. Minimum Lodging EBITDA
. Borrowers shall not permit Lodging EBITDA for any four consecutive Fiscal Quarter period ending on the last day of any Fiscal Quarter set forth below to be less than the amount indicated which required amount shall be reduced by the amount of Lodging EBITDA generated by or attributable to Lodging Assets which were the subject of a disposition after the Closing Date:Period Minimum Lodging EBITDA 1st Fiscal Quarter, Fiscal Year 2002 $160,000,000 2nd Fiscal Quarter, Fiscal Year 2002 $160,000,000 3rd Fiscal Quarter, Fiscal Year 2002 $160,000,000 4th Fiscal Quarter, Fiscal Year 2002 $160,000,000 1st Fiscal Quarter, Fiscal Year 2003 and $180,000,000
each Fiscal Quarter thereafter"
"D. Minimum Fixed Charge Coverage Ratio
. Borrowers shall not permit the ratio of (i) Consolidated EBITDA minus the Capital Expenditure Reserve to (ii) Fixed Charges for any four consecutive Fiscal Quarter period ending on the last day of any Fiscal Quarter set forth below to be less than the correlative ratio indicated:Period Minimum Fixed Charge Coverage Ratio 1st Fiscal Quarter, Fiscal Year 2002 1.55:1.00 2nd Fiscal Quarter, Fiscal Year 2002 1.55:1.00 3rd Fiscal Quarter, Fiscal Year 2002 1.50:1.00 4th Fiscal Quarter, Fiscal Year 2002 1.55:1.00 1st Fiscal Quarter, Fiscal Year 2003 1.55:1.00 2nd Fiscal Quarter, Fiscal Year 2003 1.60:1.00 3rd Fiscal Quarter, Fiscal Year 2003 1.60:1.00 4th Fiscal Quarter, Fiscal Year 2003 1.60:1.00 1st Fiscal Quarter, Fiscal Year 2004 and 1.70:1.00
each Fiscal Quarter thereafter"
Section 2. CONDITIONS TO EFFECTIVENESS
Section 1 of this Amendment shall become effective only upon the satisfaction of all of the following conditions precedent (the date of satisfaction of such conditions being referred to herein as the "First Amendment Effective Date"):
- On or before the First Amendment Effective Date, Borrowers shall deliver to Lenders (or to Administrative Agent for Lenders) the following, each, unless otherwise noted, dated the First Amendment Effective Date:
- Signature and incumbency certificates of each Loan Parties' officers executing this Amendment; and
- Copies of this Amendment executed by Borrowers and the Credit Support Parties.
- Requisite Lenders shall have executed this Amendment.
- The Borrowers shall have paid to each Lender that executes and returns this Amendment to the Administrative Agent prior to noon Los Angeles time on March 29, 2002, a fee equal to 12.5 basis points of the sum of such Lender's Term Loan Exposure plus such Lender's Revolving Loan Exposure as in effect as of the date hereof.
- On or before the First Amendment Effective Date, all corporate and other proceedings taken or to be taken in connection with the transactions contemplated hereby and all documents incidental thereto not previously found acceptable by Administrative Agent, acting on behalf of Lenders, and its counsel shall be satisfactory in form and substance to Administrative Agent and such counsel, and Administrative Agent and such counsel shall have received all such counterpart originals or certified copies of such documents as Administrative Agent may reasonably request.
Section 3. BORROWERS' REPRESENTATIONS AND WARRANTIES
In order to induce Lenders to enter into this Amendment and to amend the Credit Agreement in the manner provided herein, each Borrower represents and warrants to each Lender that the following statements are true, correct and complete:
- Corporate Power and Authority . Each Loan Party has all requisite corporate power and authority to enter into this Amendment and to carry out the transactions contemplated by, and perform its obligations under, the Credit Agreement as amended by this Amendment (the "Amended Agreement").
- Authorization of Agreements . The execution and delivery of this Amendment and the performance of the Amended Agreement have been duly authorized by all necessary corporate action on the part of each Loan Party.
- No Conflict . The execution and delivery by each Loan Party of this Amendment and the performance by each Loan Party of the Amended Agreement do not and will not (i) violate any provision of any law or any governmental rule or regulation applicable to any Loan Party, the Certificate or Articles of Incorporation or Bylaws of any Loan Party or any order, judgment or decree of any court or other agency of government binding on any Loan Party, (ii) conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any Contractual Obligation of any Loan Party, (iii) result in or require the creation or imposition of any Lien upon any of the properties or assets of any Loan Party (other than Liens created under any of the Loan Documents in favor of Administrative Agent on behalf of Lenders and the Senior Notes), or (iv) require any approval of stockholders or any approval or consent of any Person under any Contractual Obligation of any Loan Party.
- Governmental Consents . The execution and delivery by each Loan Party of this Amendment and the performance by each Loan Party of the Amended Agreement do not and will not require any registration with, consent or approval of, or notice to, or other action to, with or by, any federal, state or other governmental authority or regulatory body.
- Binding Obligation . This Amendment and the Amended Agreement have been duly executed and delivered by each Loan Party and are the legally valid and binding obligations of each Loan Party, enforceable against each Loan Party in accordance with their respective terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors' rights generally or by equitable principles relating to enforceability.
- Incorporation of Representations and Warranties From Credit Agreement . The representations and warranties contained in Section 5 of the Credit Agreement are and will be true, correct and complete in all material respects on and as of the First Amendment Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date.
- Absence of Default . No event has occurred and is continuing or will result from the consummation of the transactions contemplated by this Amendment that would constitute an Event of Default or a Potential Event of Default.
Section 4. ACKNOWLEDGEMENT AND CONSENT
Each Borrower is a party to the Pledge Agreement and certain of the Collateral Documents, as amended through the First Amendment Effective Date, pursuant to which each Borrower has created Liens in favor of Administrative Agent on certain Collateral to secure the Obligations. Each Subsidiary Guarantor is a party to the Pledge Agreement, the Subsidiary Guaranty and certain of the Collateral Documents, in each case as amended through the First Amendment Effective Date, pursuant to which each Subsidiary Guarantor has (i) guarantied the Obligations and (ii) created Liens in favor of Administrative Agent on certain Collateral and pledged certain Collateral to Administrative Agent to secure the obligations of such Subsidiary Guarantor under the Subsidiary Guaranty. Each Borrower and Subsidiary Guarantor are collectively referred to herein as the "Credit Support Parties", and the Pledge Agreement and the Subsidiary Guaranty are collectively referred to herein as the "Credit Support Documents".
Each Credit Support Party hereby acknowledges that it has reviewed the terms and provisions of the Credit Agreement and this Amendment and consents to the amendment of the Credit Agreement effected pursuant to this Amendment. Each Credit Support Party hereby confirms that each Credit Support Document to which it is a party or otherwise bound and all Collateral encumbered thereby will continue to guaranty or secure, as the case may be, to the fullest extent possible the payment and performance of all "Obligations" and "Secured Obligations," as the case may be (in each case as such terms are defined in the applicable Credit Support Document), including without limitation the payment and performance of all such "Obligations" and "Secured Obligations," as the case may be, in respect of the Obligations of each Borrower now or hereafter existing under or in respect of the Amended Agreement and the Notes defined therein.
Each Credit Support Party acknowledges and agrees that any of the Credit Support Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of this Amendment. Each Credit Support Party represents and warrants that all representations and warranties contained in the Amended Agreement and the Credit Support Documents to which it is a party or otherwise bound are true, correct and complete in all material respects on and as of the First Amendment Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date.
Each Credit Support Party (other than the Borrowers) acknowledges and agrees that (i) notwithstanding the conditions to effectiveness set forth in this Amendment, such Credit Support Party is not required by the terms of the Credit Agreement or any other Loan Document to consent to the amendments to the Credit Agreement effected pursuant to this Amendment and (ii) nothing in the Credit Agreement, this Amendment or any other Loan Document shall be deemed to require the consent of such Credit Support Party to any future amendments to the Credit Agreement.
Section 5. MISCELLANEOUS
- Reference to and Effect on the Credit Agreement and the Other Loan Documents.
[Remainder of page intentionally left blank]
IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be duly executed and delivered by their respective officers thereunto duly authorized as of the date first written above.BORROWERS:
LA QUINTA CORPORATION
By: _/s/ David L. Rea_____________
Name: David L. Rea
Title: Executive Vice President &
Chief Financial Officer
LA QUINTA PROPERTIES, INC.
By: _/s/ David L. Rea_____________
Name: David L. Rea
Title: Executive Vice President &
Chief Financial Officer
CREDIT SUPPORT PARTIES:
MEDITRUST HEALTHCARE CORPORATION
MEDITRUST MORTGAGE INVESTMENTS, INC.
MEDITRUST FINANCIAL SERVICES CORPORATION
By: _/s/ David L. Rea_____________
On behalf of each of the entities immediately preceding this signature block (for the purposes of Section 4 only), as a Credit Support Party
Name: David L. Rea
Title: Chief Financial Officer and Treasurer
MEDITRUST TRS, INC.
LA QUINTA TRS, INC.
LA QUINTA TRS II, INC.
LA QUINTA TRS III, INC.
LA QUINTA TRS IV, INC.
By: _/s/ Francis W. Cash________
On behalf of each of the entities immediately preceding this signature block (for the purposes of Section 4 only), as a Credit Support Party
Name: Francis W. Cash
Title: President
LA QUINTA REALTY CORP.
LQI ACQUISITION CORPORATION
LA QUINTA INVESTMENTS, INC.
LA QUINTA LEASING COMPANY
LA QUINTA INNS, INC.
MOC HOLDING COMPANY
By: _/s/ David L. Rea_____________
On behalf of each of the entities immediately preceding this signature block (for the purposes of Section 4 only), as a Credit Support Party
Name: David L. Rea
Title: Executive Vice President &
Chief Financial Officer
LA QUINTA FRANCHISE, LLC
LA QUINTA WORLDWIDE, LLC
By: _/s/ David L. Rea_____________
On behalf of each of the entities immediately preceding this signature block (for the purposes of Section 4 only), as a Credit Support Party
Name: David L. Rea
Title: Manager, President and Treasurer
LA QUINTA TEXAS PROPERTIES, L.P.
(for the purposes of Section 4 only), as a Credit Support PartyBy: LA QUINTA REALTY CORP.
By: _/s/ David L. Rea______
Name: David L. Rea
Title: Executive Vice President,
Chief Financial Officer &
Treasurer
LQ INVESTMENTS I
LQ INVESTMENTS II
LQ - EAST IRVINE JOINT VENTURE
On behalf of each of the entities immediately preceding this signature block (for the purposes of Section 4 only), as a Credit Support Party
By: LA QUINTA PROPERTIES, INC., as Partner
By: _/s/ David L. Rea______
Name: David L. Rea
Title: Executive Vice President and Chief Financial Officer
LQC LEASING, LLC
LA QUINTA LODGING INVESTMENTS, LLC
On behalf of each of the entities immediately preceding this signature block (for the purposes of Section 4 only), as a Credit Support Party
By: LA QUINTA PROPERTIES, INC., as Sole Member
By: _/s/ David L. Rea______
Name: David L. Rea
Title: Executive Vice President and Chief Financial Officer
LQ - LNL, L.P.
LQ BATON ROUGE JOINT VENTURE
LA QUINTA DENVER - PEORIA STREET LTD.
LA QUINTA DEVELOPMENT PARTNERS, L.P.
On behalf of each of the entities immediately preceding this signature block (for the purposes of Section 4 only), as a Credit Support Party
By: LA QUINTA PROPERTIES, INC., as General Partner
By: _/s/ David L. Rea______
Name: David L. Rea
Title: Executive Vice President
and Chief Financial Officer
MT LIMITED I LLC
MEDITRUST ACQUISITION COMPANY LLC
MEDITRUST ACQUISITION COMPANY II LLC
MT GENERAL LLC
By: MEDITRUST HEALTHCARE CORPORATION, as Manager
By: _/s/ David L. Rea______
Name: David L. Rea
Title: Chief Financial Officer &
Treasurer
LQM OPERATING PARTNERS, L.P.
By: LA QUINTA REALTY CORP., its General Partner
On behalf of each of the entities immediately preceding this signature block (for the purposes of Section 4 only), as a Credit Support Party
By: _/s/ David L. Rea______
Name: David L. Rea
Title: Executive Vice President,
Chief Financial Officer & Treasurer
TELEMATRIX, INC.
(for the purposes of Section 4 only), as a Credit Support PartyBy: _/s/ David L. Rea_____________
Name: David L. Rea
Title: Assistant Treasurer
T AND F PROPERTIES, LP
(for the purposes of Section 4 only), as a Credit Support PartyBy: MT GENERAL LLC, as General Partner
By: MEDITRUST HEALTHCARE CORPORATION, its Manager
By: _/s/ David L. Rea__ Name: David L. Rea
Title: Chief Financial Officer and Treasurer
MEDITRUST MANAGEMENT COMPANY
(for the purposes of Section 4 only), as a Credit Support PartyBy: MEDITRUST HEALTHCARE CORPORATION, its Trustee
By: _/s/ David L. Rea______
Name: David L. Rea
Title: Executive Vice President,
Chief Financial Officer and Treasurer
LQ - WB, LLC
(for the purposes of Section 4 only), as a Credit Support PartyBy: LA QUINTA LEASING COMPANY, a Manager
By: _/s/ David L. Rea_____________
Name: David L. Rea
Title: Executive Vice President, Chief Financial Officer and Treasurer
TELEMATRIX EQUIPMENT LLC
(for the purposes of Section 4 only), as a Credit Support PartyBy: LA QUINTA LEASING COMPANY, a Manager
By: _/s/ David L. Rea_____________
Name: David L. Rea
Title: Executive Vice President , Chief Financial Officer and Treasurer
ADMINISTRATIVE AGENT
:CANADIAN IMPERIAL BANK OF COMMERCE, as Administrative Agent
By: _/s/ Dean J. Decker_____________
Dean J. Decker
Managing Director
CIBC World Markets Corp., AS AGENT
Notice Address:
CANADIAN IMPERIAL BANK OF COMMERCE
425 Lexington Avenue
New York, New York 10017
Attn.: Agency Services Dept.
Facsimile No.: (212) 856-3799
With a Copy to:
CIBC WORLD MARKETS CORP.
10880 Wilshire Boulevard, Suite 1700
Los Angeles, California 90024
LENDERS:
CIBC, INC.,
as a LenderBy: _/s/ Dean J. Decker_____________
Dean J. Decker
Managing Director
CIBC World Markets Corp., AS AGENT
Notice Address:
CIBC, INC.
425 Lexington Avenue
New York, New York 10017
Attn.: Agency Services Dept.
Facsimile No.: (212) 856-3799
With a Copy to:
CIBC WORLD MARKETS CORP.
10880 Wilshire Boulevard, Suite 1700
Los Angeles, California 90024
FLEET NATIONAL BANK
, as a Lender
By: _/s/ Mark R. Luster_____________
Name: Mark R. Luster
Title: Vice President
Notice Address:
Fleet National Bank
Mark R. Luster
Vice President
777 Main Street
Hartford, CN 06115
Mail Stop: CTEH40224E
LEHMAN COMMERCIAL PAPER INC.
By: _/s/ Michele Swanson____________
Name: ___ Michele Swanson________
Title: ____Authorized Signatory_____
JPMorgan Chase Bank, as a Lender
By: _/s/ John F. Mix____________
Name: ___ John F. Mix ________
Title: ____Vice-President _____
CREDIT LYONNAIS New York Branch, as a Lender
By: _/s/ Bruno DeFloor__________ __
Name: ___ Bruno DeFloor _____ __
Title: ____Vice President__ __
ELF Funding Trust I
By: Highland Capital Management, L.P. , As Collateral Manager
By: _/s/ Louis Koven __________ __
Name: Louis Koven___ _____ __
Title: Executive Vice President-CFO
Highland Capital Management, L.P.___
EMERALD ORCHARD LIMITED
By: _/s/Stacey Malek __________ __
Name: Stacey Malek___ _____ __
Title: Attorney in Fact____ __ __
Pamco Cayman, Ltd.
By: Highland Capital Management, L.P., As Collateral Manager
By: _/s/ Louis Koven __________ __
Name: Louis Koven___ _____ __
Title: Executive Vice President-CFO
Highland Capital Management, L.P.___
GLENEAGLES TRADING LLC
By: _/s/ Ann E. Morris __________ __
Name: Ann E. Morris___ _____ __
Title: Assistant Vice President____ _
Highland Loan Funding V Ltd
By: Highland Capital Management, L.P., As Collateral Manager
By: _/s/Louis Koven __________ __
Name: Louis Koven___ _____ __
Title: Executive Vice President-CFO
Highland Capital Management, L.P.___
SRV-HIGHLAND, INC.
By: _/s/ Ann E. Morris __________ __
Name: Ann E. Morris___ _____ __
Title: Assistant Vice President____ __
KZH HIGHLAND-2 LLC, as a Lender
By: _/s/ Virginia Conway __________
Name: Virginia Conway___ _____ __
Title: Authorized Agent____ __
KZH PAMCO, as a Lender
By: _/s/Virginia Conway ______
Name: Virginia Conway__ _____ __
Title: Authorized Agent____ __
BLUE SQUARE FUNDING SERIES 3
By: Bankers Trust Company,
as Trustee
By: _/s/ Susan Anderson __________ __
Name: Susan Anderson___ _____ __
Title: Assistant Vice President____ __
CSAM FUNDING 1, as a Lender
By: _/s/ David H. Lerner _________ __
Name: David H. Lerner___ _____ __
Title: Autorized Signatory____ _
FIRST DOMINION FUNDING 1, as a Lender
By: _/s/ David H. Lerner __________ __
Name: David H. Lerner___ _____ __
Title: Authorized Signatory____ __
FIRST DOMINION FUNDING II, as a Lender
By: _/s/ David H. Lerner __________ __
Name: David H. Lerner___ _____ __
Title: Authorized Signatory____ __
HAMILTON CDO,LTD
By: Stanfield Capital Partners LLC
As its Collateral Manager
By: _/s/ Gregory L. Smith __________
Name: Gregory L. Smith___ _____ __
Title: Partner ____ __
STANFIELD ARBITAGE CDO, Ltd.
By: Stanfield Capital Partners, LLC
As its Collateral Manager
By: _/s/ Gregory L. Smith __________
Name: Gregory L. Smith___ _
Title: Partner ____ __
STANFIELD CLO Ltd.
By: Stanfield Capital Parnters LLC
As its Collateral Manager
By: _/s/ Gregory L. Smith __________
Name: Gregory L. Smith ___ _____ __
Title: Partner ____ __
STANFIELD/RMF TRANSATLANTIC CDO Ltd.
By: Stanfield Capital Partners LLC
As its Collateral Manager
By: _/s/Gregory L. Smith __________
Name: Gregory L. Smith ___ _
Title: Partner ____ __
Windsor Loan Funding, Limited
By: Stanfield Capital Partners LLC
As its Investment Manager
By: _/s/ Gregory L. Smith __________
Name: Gregory L. Smith___ _
Title: Partner ____ __
ARES Leveraged Investment Fund II, L.P.
By: ARES Management II, L.P.
Its: General Partner
By: _/s/ Seth J. Brufsky __________ __
Name: Seth J. Brufsky ___ _____ __
Title: Vice President ____ __
ARES III CLO Ltd.
By: ARES CLO Management LLC
By: _/s/ Seth J. Brufsky __________ __
Name: Seth J. Brufsky___ _____ __
Title: Vice President ____ __
ARES IV CLO Ltd.
By: Ares CLO Management IV, L.P.,
Investment Manager
By: Ares CLO GP IV, LLC
Its Managing Member
By: _/s/Seth J. Brufsky __________ __
Name: Seth J. Brufsky___ _____ __
Title: Vice President ____ __
ARES V CLO Ltd.
By: ARES CLO Management V, LP,
Investment Manager
By ARES CLO GP V, LLC,
Its Managing Member
By: _/s/ Seth J. Brufsky __________ __
Name: Seth J. Brufsky___ _____ __
Title: Vice President ____ __
LONG LANE MASTER TRUST IV,
as a Lender
By: Fleet National Bank as Trust
Administrator
By: _/s/ Darcey F. Bartel __________
Name: Darcey F. Bartel___ _____ __
Title: Vice President ____ __
FRANKLIN CLO II, LIMITED
as a Lender
By: _/s/ Richard D'Addario _________
Name: Richard D'Addario ___ __
Title: Vice President ____ __
FRANKLIN FLOATING RATE MASTER
SERIES
, as a Lender
By: _/s/ Richard D'Addario __________
Name: Richard D'Addario ___ __
Title: Vice President ____ __
Fidelity Advisor Series II:
Fidelity Advisor Floating Rate High
Income (as a Lender)
By: _/s/ John Costello __________ __
Name: John Costello___ _____ __
Title: Assistant Treasurer ____ __
Ballyrock CDO I Limited
BY: BALLYROCK Investment Advisors LLC, as Collateral Manager
By: _/s/ Lisa Rymut __________ __
Name: Lisa Rymut___ _____ __
Title: Assistant Treasurer ____ __
BEAR STEARNS INVESTMENT
PRODUCTS INC, as a Lender
By: _/s/ Keith C. Barnish __________
Name: Keith C. Barnish___ _____ __
Title: Authorized Signatory __
GOLDMAN SACHS CREDIT
PARTNERS L.P. as a Lender
By: _/s/ Robert S. Fanelli ___________
Name: Robert S. Fanelli___ _____ __
Title: Authorized Signatory____ __
BANK OF MONTREAL
By: _/s/ S. Valia __________ __
Name: S. Valia___ _____ __
Title: MD ____ __
SIERRA CLO I as a Lender
By: _/s/ John M. Casparian _________
Name: John M. Casparian ____ __
Title: Chief Operating Officer ____ Centre Pacific, Manager __
SRF TRADING, INC.
By: _/s/Ann E. Morris ____________
Name: Ann E. Morris___ _____ __
Title: Assistant Vice President __
SRF 2000 LLC
By: _/s/ Ann E. Morris __________ __
Name: Ann E. Morris___ _____ __
Title: Assistant Vice President __
Stein Roe & Farnharn CLO I Ltd.
By: Stein Roe & Farnharn Incorporated As Portfolio Manager
By: _/s/ James R. Fellows ___________
Name: James R. Fellows___ ___ __
Title: Sr. Vice President & Portfolio Manager ____ __
Stein Roe Floating Rate Limited
Liability Company
By: _/s/ James R. Fellows ___________
Name: James R. Fellows___ ___ __
Title: Stein Roe & Farnham Incorporated, as Advisor to the Stein Roe Floating Rate Limited Liability Company ____ __
NORMURA BOND & LOAN FUND
By: UFJ Trust Company of New York as Trustee
By: Nomura Corporate Research and Asset Management Inc. Attorney in Fact
By: _/s/ Elizabeth Maclean ___________
Name: Elizabeth Maclean___ ___
Title: Vice President __ __ __