AMENDMENT NO. 2

EX-10.20 5 w77123exv10w20.htm EXHIBIT 10.20 exv10w20
Exhibit 10.20
AMENDMENT NO. 2
          AMENDMENT NO. 2 dated as of October 26, 2009 to the Credit Agreement referred to below, between Teleflex Incorporated (the “Borrower”), each of the Guarantors identified under the caption “GUARANTORS” on the signature pages hereto, each of the Lenders identified under the caption “LENDERS” on the signature pages hereto and JPMorgan Chase Bank, N.A. (“JPMCB”), as administrative agent for the Lenders (in such capacity, the “Administrative Agent”).
          The Borrower, the Lenders party thereto (individually, a “Lender” and, collectively, the “Lenders”), the Guarantors party thereto, JPMorgan Chase Bank, N.A., as collateral agent for the Lenders, and the Administrative Agent are parties to a Credit Agreement dated as of October 1, 2007 (as amended and in effect immediately prior to giving effect to this Amendment No. 2, the “Credit Agreement”). The Borrower and the Lenders wish to amend the Credit Agreement in certain respects, and accordingly, the parties hereto hereby agree as follows:
          Section 1. Definitions. Capitalized terms used in this Amendment No. 2 and not otherwise defined are used herein as defined in the Credit Agreement.
          Section 2. Amendments. Effective as provided in Section 4 hereof, the Credit Agreement shall be amended as follows:
          2.01. References in the Credit Agreement (including references to the Credit Agreement as amended hereby) to “this Agreement” (and indirect references such as “hereunder”, “hereby”, “herein” and “hereof”) shall be deemed to be references to the Credit Agreement as amended hereby.
          2.02. Section 1.01 of the Credit Agreement is hereby amended by restating the following definition as follows:
     “Consolidated Leverage Ratio” means, as at any date, the ratio of (a) Consolidated Total Indebtedness on such date (subject to the proviso set forth in the definition of “Indebtedness” and excluding Indebtedness in respect of any Receivables Securitization Program) to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters ending on or most recently ended prior to such date.
          Section 3. Representations and Warranties. The Borrower represents and warrants to the Administrative Agent and the Lenders that (a) the representations and warranties of the Borrower set forth in the Credit Agreement, as amended hereby, and of each Loan Party in each of the other Loan Documents to which it is a party, are true and correct in all material respects on and as of the date hereof (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date) and (b) no Default shall occur and be continuing under the Credit Agreement, as amended hereby.
          Section 4. Conditions Precedent to Effectiveness. The amendments set forth in Section 2 hereof shall become effective, as of the date hereof, upon receipt by the Administrative Agent of one or more counterparts of this Amendment No. 2 executed by each Loan Party and the Required Lenders.

 


 

          Section 5. Confirmation of Security Documents. The Borrower hereby confirms and ratifies all of its obligations under the Security Documents to which it is a party. By its execution on the respective signature lines provided below, each of the Guarantors hereby confirms and ratifies all of its obligations (including, without limitation, the obligations as guarantor under Article X of the Credit Agreement, as amended hereby) and the Liens granted by it under the Loan Documents to which it is a party, represents and warrants that the representations and warranties set forth in such Loan Documents are complete and correct in all material respects on the date hereof as if made on and as of such date and confirms that all references in such Loan Documents to the “Credit Agreement” (or words of similar import) refer to the Credit Agreement as amended hereby without impairing any such obligations or Liens in any respect.
          Section 6. Miscellaneous. Except as herein provided, the Credit Agreement shall remain unchanged and in full force and effect. This Amendment No. 2 may be executed in any number of counterparts, all of which taken together shall constitute one and the same agreement and any of the parties hereto may execute this Amendment No. 2 by signing any such counterpart. This Amendment No. 2 shall be governed by, and construed in accordance with, the law of the State of New York.
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     IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 2 to be duly executed and delivered as of the day and year first above written.
         
  TELEFLEX INCORPORATED
 
 
  By  /s/ C. Jeffrey Jacobs    
    Name:   C. Jeffrey Jacobs   
    Title:   Treasurer   
 
         
  GUARANTORS

ARROW INTERNATIONAL INC.

ARROW INTERNATIONAL INVESTMENT CORP.

ARROW INTERVENTIONAL INC.

SIERRA INTERNATIONAL INC.

SOUTHERN WIRE, LLC

SOUTHWEST WIRE ROPE, LP
By Southwest Wire Rope GP LLC, its general partner

SPECIALIZED MEDICAL DEVICES, LLC

SSI SURGICAL SERVICES, INC.

TECHNOLOGY HOLDING COMPANY

TELAIR INTERNATIONAL INCORPORATED

TELEFLEX MEDICAL INCORPORATED

TFX EQUITIES INCORPORATED

TFX INTERNATIONAL CORPORATION

TFX MARINE INCORPORATED

TFX NORTH AMERICA INC.

THE STEPIC MEDICAL DISTRIBUTION CORPORATION
 
 
  By  /s/ C. Jeffrey Jacobs    
    Name:   C. Jeffry Jacobs   
    Title:   (1) Vice President and Treasurer (other than for Technology Holding Company, TFX Equities Incorporated, TFX International Corporation and TFX North America Inc.) (2) President and Treasurer (in the case of TFX North America Inc.) (3) Vice President (in the case of TFX Equities Incorporated) (4) President (in the case of Technology Holding Company and TFX International Corporation)   

 


 

         
         
  LENDERS
JPMORGAN CHASE BANK, N.A.,
individually and as Administrative Agent
 
 
  By  /s/ Deborah R. Winkler    
    Name:   Deborah R. Winkler   
    Title:   Vice President   
 
  PNC BANK NATIONAL ASSOCIATION
 
 
  By  /s/ Brian T. Vesey    
    Name:   Brian T. Vesey   
    Title:   Vice President   
 
         
  ROYAL BANK OF CANADA
 
 
  By  /s/ Dustin Craven    
    Name:   Dustin Craven   
    Title:   Attorney-in-Fact   
 
     
  By  /s/ Sandra Lokoff    
    Name:   Sandra Lokoff   
    Title:   Authorized Signatory   
 
         
  SOCIETE GENERALE
 
 
  By  /s/ Laurence Guguen    
    Name:   Laurence Guguen   
    Title:   Vice President   
 
  WACHOVIA BANK, N.A.
 
 
  By  /s/ James Travagline    
    Name:   James Travagline   
    Title:   Vice President   
 
         
  ALLIED IRISH BANKS, P.L.C.
 
 
  By  /s/ [Illegible]    
    Name:   [Illegible]   
    Title:   [Illegible]   
 
  HARLEYSVILLE NATIONAL BANK AND TRUST CO.
 
 
  By  /s/ Tara Handforth    
    Name:   Tara Handforth   
    Title:   Vice President   

 


 

         
         
  CATHAY UNITED BANK
 
 
  By  /s/ Grace Chou    
    Name:   Grace Chou   
    Title:   SVP & General Manager   
 
  KEYSTONE NATIONAL BANK AND TRUST
 
 
  By  /s/ Kevin D. Brown    
    Name:   Kevin D. Brown   
    Title:   Vice President   
 
         
  NORTHERN TRUST
 
 
  By  /s/ Michael Kingsley    
    Name:   Michael Kingsley   
    Title:   Senior Vice President   
 
  BROWN BROTHERS HARRIMAN & CO.
 
 
  By  /s/ John H. Wert, Jr.    
    Name:   John H. Wert, Jr.   
    Title:   Senior Vice President   
 
         
  BANK OF AMERICA, N.A.
 
 
  By  /s/ Annie L. Edwards    
    Name:   Annie L. Edwards   
    Title:   Vice President   
 
  BAYERISCHE HYPO-UND VEREINSBANK
AG, NEW YORK BRANCH
 
 
  By:   /s/ Kimberly Sousa    
    Name:   Kimberly Sousa   
    Title:   Director   
 
         
     
  By:   /s/ Elaine Tung    
    Name:   Elaine Tung   
    Title:   Director   

 


 

         
         
  CALYON NEW YORK BRANCH
 
 
  By:   /s/ Pamela Donnelly    
    Name:   Pamela Donnelly   
    Title:   Director   
 
     
  By:   /s/ Yuri Muzichenko    
    Name:   Yuri Muzichenko   
    Title:   Director   
 
         
  COMERICA BANK
 
 
  By:   /s/ Liesl Eckhardt    
    Name:   Liesl Eckhardt   
    Title:   Assistant Vice President   
 
  DNB NOR BANK ASA
 
 
  By:   /s/ Philip F. Kurpiewski    
    Name:   Philip F. Kurpiewski   
    Title:   Senior Vice President   
         
  By:   /s/ Thomas Tangen    
    Name:   Thomas Tangen   
    Title:   Senior Vice President   
 
  HSBC BANK USA, N.A.
 
 
  By:   /s/ Colleen Glackin    
    Name:   Colleen Glackin   
    Title:   Vice President   
 
         
  INTESA SANPAOLO S.P.A.
 
 
  By:   /s/ Luca Sacchi    
    Name:   Luca Sacchi   
    Title:   VP   
 
     
  By:   /s/ Francesco Di Mario    
    Name:   Francesco Di Mario   
    Title:   FVP   

 


 

         
         
  KBC BANK, N.V.
 
 
  By:   /s/ William Cavanaugh    
    Name:   William Cavanaugh   
    Title:   Director   
 
     
  By:   /s/ Sandra T. Johnson    
    Name:   Sandra T. Johnson   
    Title:   Managing Director   
 
         
  KEYBANK NATIONAL ASSOCIATION
 
 
  By:   /s/ Brian P. Fox    
    Name:   Brian P. Fox   
    Title:   Vice President   
 
  LANDESBANK BADEN-WUERTTEMBERG
NEW YORK AND/OR CAYMAN ISLANDS
BRANCH
 
 
  By:   /s/ Francois Delangle    
    Name:   Francois Delangle   
    Title:   Vice President   
         
  By:   /s/ Martin Steufert    
    Name:   Martin Steufert   
    Title:   Assistant Vice President   
 
  MIZUHO CORPORATE BANK, LTD.
 
 
  By:   /s/ Bertram H. Tang    
    Name:   Bertram H. Tang   
    Title:   Authorized Signatory   
 
         
  NATIONAL CITY BANK
 
 
  By:   /s/ Debra W. Riefner    
    Name:   Debra W. Riefner   
    Title:   Senior Vice President   
 
  RBS CITIZENS NA
 
 
  By:   /s/ Jeffrey C. Lynch    
    Name:   Jeffrey C. Lynch   
    Title:   SVP   

 


 

         
         
  SUMITOMO MITSUI BANKING CORPORATION
 
 
  By:   /s/ William M. Ginn    
    Name:   William M. Ginn   
    Title:   Executive Officer   
 
  SUN TRUST BANK
 
 
  By:   /s/ David Fournier    
    Name:   David Fournier   
    Title:   Vice President   
 
         
  THE BANK OF EAST ASIA, LIMITED
NEW YORK BRANCH
 
 
  By:   /s/ Kenneth Pettis    
    Name:   Kenneth Pettis   
    Title:   Senior Vice President   
 
     
  By:   /s/ Kitty Sin    
    Name:   Kitty Sin   
    Title:   Senior Vice President   
 
         
  THE BANK OF NOVA SCOTIA
 
 
  By:   /s/ Paula Czach    
    Name:   Paula Czach   
    Title:   Director and Executive Head   
 
  THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.
 
 
  By:   /s/ Harumi Kambara    
    Name:   Harumi Kambara   
    Title:   Authorized Signatory   
 
         
  THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND
 
 
  By:   /s/ Gareth Magee    
    Name:   Gareth Magee   
    Title:   Senior Manager   
 
     
  By:   /s/ Stephen Mitchell    
    Name:   Stephen Mitchell   
    Title:   Deputy Manager