SECOND AMENDMENT

EX-10.2 5 l41371exv10w2.htm EX-10.2 exv10w2
Exhibit 10.2
EXECUTION VERSION
SECOND AMENDMENT
          SECOND AMENDMENT, dated as of December 10, 2010 (this “Amendment”), to the Amended and Restated Credit Agreement, dated as of February 7, 2007 (as amended as of April 10, 2007, the “Credit Agreement”), among The Scotts Miracle-Gro Company, an Ohio corporation (the “Borrower”), the Subsidiary Borrowers (as defined in the Credit Agreement) from time to time parties to the Credit Agreement (the “Subsidiary Borrowers”), the several banks and other financial institutions and entities from time to time parties to the Credit Agreement (the “Lenders”), the Syndication Agent and the Documentation Agents named therein, and JPMorgan Chase Bank, N.A., as agent for the Lenders (in such capacity, the “Administrative Agent”).
W I T N E S S E T H:
          WHEREAS, the Borrower has requested that the Credit Agreement be amended as provided herein;
          WHEREAS, the Lenders and the Administrative Agent are willing to agree to such amendments to the Credit Agreement, subject to the terms and conditions set forth herein;
          NOW, THEREFORE, in consideration of the premises and of the mutual agreements herein contained, the parties hereto agree as follows:
     1. Defined Terms. Unless otherwise defined herein, capitalized terms used herein shall have the respective meanings assigned to them in the Credit Agreement.
     2. Amendment to Subsection 7.5(e) (Limitation on Indebtedness). Subsection 7.5(e) is hereby amended by deleting “$200,000,000” in the third proviso therein and inserting “$450,000,000” in lieu thereof.
     3. Representations and Warranties. On and as of the date hereof, and after giving effect to this Amendment, each of the Borrower and the Subsidiary Borrowers hereby confirms, reaffirms and restates the representations and warranties set forth in Section 4 of the Credit Agreement mutatis mutandis, and to the extent that such representations and warranties expressly relate to a specific earlier date in which case it hereby confirms, reaffirms and restates such representations and warranties as of such earlier date.
     4. Conditions to Effectiveness. This Amendment shall become effective as of the date set forth above upon the receipt by the Administrative Agent of counterparts of this Amendment duly executed by the Borrower, each Subsidiary Borrower and the Required Lenders.
     5. Continuing Effect; No Other Amendments. Except as expressly amended or waived hereby, all of the terms and provisions of the Credit Agreement are and shall remain in full force and effect. The amendments provided for herein are limited to the specific subsections of the Credit Agreement specified herein and shall not constitute an amendment of, or an indication of any Lender’s willingness to amend or waive, any other provisions of the Credit Agreement or the same subsections for any other date or time period (whether or not other provisions or compliance with such subsections for another date or time period are affected by the circumstances addressed in this Amendment).

 


 

     6. Expenses. The Borrower agrees to pay and reimburse the Administrative Agent for all its reasonable costs and expenses incurred in connection with the preparation and delivery of this Amendment, including, without limitation the reasonable fees and disbursements of counsel to the Administrative Agent.
     7. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
     8. Counterparts. This Amendment may be executed by the parties hereto in any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.

2


 

          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered in New York, New York by their proper and duly authorized officers as of the day and year first above written.
         
  THE SCOTTS MIRACLE-GRO COMPANY
 
 
  By:   /s/ Vincent C. Brockman    
    Name:   Vincent C. Brockman   
    Title:   Executive Vice President and General Counsel   
 
  HYPONEX CORPORATION
 
 
  By:   /s/ Vincent C. Brockman    
    Name:   Vincent C. Brockman   
    Title:   Executive Vice President and General Counsel   
 
  SCOTTS AUSTRALIA PTY. LTD
 
 
  By:   /s/ Ed Claggett    
    Name:   Ed Claggett   
    Title:   Vice President - Tax and Risk   
 
  SCOTTS CANADA LTD.
 
 
  By:   /s/ Vincent C. Brockman    
    Name:   Vincent C. Brockman   
    Title:   Executive Vice President and General Counsel   
 
  SCOTTS HOLDINGS LIMITED
 
 
  By:   /s/ Ed Claggett    
    Name:   Ed Claggett   
    Title:   Vice President - Tax and Risk   
 
  SCOTTS MANUFACTURING COMPANY
 
 
  By:   /s/ Ed Claggett    
    Name:   Ed Claggett   
    Title:   Vice President - Tax and Risk   
 
Signature Page to Second Amendment

 


 

         
  EG SYSTEMS, INC.
 
 
  By:   /s/ Vincent C. Brockman    
    Name:   Vincent C. Brockman   
    Title:   Executive Vice President and General Counsel   
 
  SCOTTS TEMECULA OPERATIONS, LLC
 
 
  By:   /s/ Vincent C. Brockman    
    Name:   Vincent C. Brockman   
    Title:   Executive Vice President and General Counsel   
 
  THE SCOTTS COMPANY (UK) LTD.
 
 
  By:   /s/ Ed Claggett    
    Name:   Ed Claggett   
    Title:   Vice President - Tax and Risk   
 
  SCOTTS TREASURY EEIG
 
 
  By:   /s/ Ed Claggett    
    Name:   Ed Claggett   
    Title:   Vice President - Tax and Risk   
 
  THE SCOTTS COMPANY LLC
 
 
  By:   /s/ Vincent C. Brockman    
    Name:   Vincent C. Brockman   
    Title:   Executive Vice President and General Counsel   
 
  TEAK 2, LTD., F/K/A/ SMITH & HAWKEN, LTD.
 
 
  By:   /s/ Vincent C. Brockman    
    Name:   Vincent C. Brockman   
    Title:   Executive Vice President and General Counsel   
 
Signature Page to Second Amendment

 


 

         
  SMG GROWING MEDIA, INC.
 
 
  By:   /s/ Vincent C. Brockman    
    Name:   Vincent C. Brockman   
    Title:   Executive Vice President and General Counsel   
 
  GUTWEIN & CO., INC.
 
 
  By:   /s/ Vincent C. Brockman    
    Name:   Vincent C. Brockman   
    Title:   Executive Vice President and General Counsel   
 
Signature Page to Second Amendment

 


 

         
  JPMORGAN CHASE BANK, N.A., as Administrative Agent and as a Lender
 
 
  By:   /s/ Tony Yung    
    Name:   Tony Yung   
    Title:   Vice President   
 
     
     
     
     
 
Signature Page to Second Amendment

 


 

         
  AGSTAR FINANCIAL SERVICES, PCA
 
 
  By:   /s/ Donald G. Lindeman    
    Name:   Donald G. Lindeman   
    Title:   Vice President   
 
  BANK LEUMI USA
 
 
  By:   /s/ Joung Hee Hong    
    Name:   Joung Hee Hong   
    Title:   First Vice President   
 
  BANK OF AMERICA, N.A.
 
 
  By:   /s/ Mike Delaney    
    Name:   Mike Delaney   
    Title:   Vice President   
 
  THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND
 
 
  By:   /s/ Carla Ryan    
    Name:   Carla Ryan   
    Title:   Authorised Signatory   
 
     
  By:   /s/ David Rafferty    
    Name:   David Rafferty   
    Title:   Authorised Signatory   
 
  THE BANK OF NOVA SCOTIA
 
 
  By:   /s/ Mark Sparrow    
    Name:   Mark Sparrow   
    Title:   Director   
 
Signature Page to Second Amendment

 


 

         
  BNP PARIBAS
 
 
  By:   /s/ Curt Price    
    Name:   Curt Price   
    Title:   Managing Director   
 
     
  By:   /s/ Fik Durmus    
    Name:   Fik Durmus   
    Title:   Director   
 
  THE BANK OF TOKYO-MITSUBISHI UFJ, LTD
 
 
  By:   /s/ Victor Pierzchalski    
    Name:   Victor Pierzchalski   
    Title:   Authorized Signatory   
 
  CITIBANK N.A.
 
 
  By:   /s/ Mark R. Floyd    
    Name:   Mark R. Floyd   
    Title:   Vice President   
 
  CITIZENS BANK OF PENNSYLVANIA
 
 
  By:   /s/ Philip R. Medsger    
    Name:   Philip R. Medsger   
    Title:   Senior Vice President   
 
  COBANK, ACB
 
 
  By:   /s/ Hal Nelson    
    Name:   Hal Nelson   
    Title:   Vice President   
 
  COMERICA BANK
 
 
  By:   /s/ Brandon Welling    
    Name:   Brandon Welling   
    Title:   Assistant Vice President   
 
Signature Page to Second Amendment

 


 

         
  CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK
 
 
  By:   /s/ Matthias Guillet    
    Name:   Matthias Guillet   
    Title:   Director   
 
     
  By:   /s/ Joseph Philbin    
    Name:   Joseph Philbin   
    Title:   Director   
 
  FIFTH THIRD BANK
 
 
  By:   /s/ Michael J. Schaltz, Jr.    
    Name:   Michael J. Schaltz, Jr.   
    Title:   Vice President   
 
  FIRSTMERIT BANK, N.A.
 
 
  By:   /s/ Robert G. Morlan    
    Name:   Robert G. Morlan   
    Title:   Senior Vice President   
 
  GENERAL ELECTRIC CAPITAL CORPORATION
 
 
  By:   /s/ Rebecca Ford    
    Name:   Rebecca Ford   
    Title:   Duly Authorized Signatory   
 
  BMO HARRIS FINANCING INC. F/K/A BMO CAPITAL MARKETS FINANCING INC.
 
 
  By:   /s/ Pamela Schwartz    
    Name:   Pamela Schwartz   
    Title:   Director   
 
  MIZUHO CORPORATE BANK, LTD.
 
 
  By:   /s/ Leon Mo    
    Name:   Leon Mo   
    Title:   Authorized Signatory   
 
Signature Page to Second Amendment

 


 

         
  THE NORTHERN TRUST COMPANY
 
 
  By:   /s/ Jeffrey P. Sullivan    
    Name:   Jeffrey P. Sullivan   
    Title:   Vice President   
 
  PEOPLE’S UNITED BANK
 
 
  By:   /s/ Francis J. McGinn    
    Name:   Francis J. McGinn   
    Title:   Senior Commercial Loan Officer, SVP   
 
  COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK NEDERLAND” NEW YORK BRANCH
 
 
  By:   /s/ Andrew Sherman    
    Name:   Andrew Sherman   
    Title:   Executive Director   
 
     
  By:   /s/ Michael L. Lautie    
    Name:   Michael L. Lautie   
    Title:   Executive Director   
 
  THE ROYAL BANK OF SCOTLAND N.V., (CANADA) BRANCH
 
 
  By:   /s/ Lawrence J. Maloney    
    Name:   Lawrence J. Maloney   
    Title:   Country Executive   
 
     
  By:   /s/ H. Bayu Budiatmanto    
    Name:   H. Bayu Budiatmanto   
    Title:   Vice President   
 
  SUMITOMO MITSUI BANKING CORPORATION
 
 
  By:   /s/ Yasuhiko Imai    
    Name:   Yasuhiko Imai   
    Title:   Group Head   
 
Signature Page to Second Amendment

 


 

         
  TD BANK, N.A.
 
 
  By:   /s/ Marla Wilner    
    Name:   Marla Wilner   
    Title:   Senior Vice President   
 
  WELLS FARGO BANK N.A.
 
 
  By:   /s/ Peter Martinets    
    Name:   Peter Martinets   
    Title:   Managing Director   
 
Signature Page to Second Amendment