Three Months Ended

EX-10.4 3 f16923exv10w4.htm EXHIBIT 10.4 exv10w4
 

Exhibit 10-4
AMENDMENT NO. 1 TO CREDIT AGREEMENT
     AMENDMENT dated as of November 22, 2005 (this “Amendment”) to the Credit Agreement dated as of December 7, 2004 among The Clorox Company, Citicorp USA, Inc. and JPMorgan Chase Bank, N.A., as Administrative Agents, and the other Agents and Banks parties thereto (the “Agreement”).
W I T N E S S E T H :
     WHEREAS, the Agreement includes a provision whereby the Commitments of the Banks may be extended from time to time; and
     WHEREAS, the parties hereto desire to amend this provision to modify the timetable specified therein; and
     WHEREAS, the parties hereto also desire to utilize this Amendment to memorialize the initial extension of Commitments pursuant to said provision;
     NOW, THEREFORE, the parties hereto agree as follows:
     Section 1 . Defined Terms; References. Unless otherwise specifically defined herein, each term used herein that is defined in the Agreement has the meaning assigned to such term in the Agreement. Each reference to “hereof”, “hereunder”, “herein” and “hereby” and each other similar reference and each reference to “this Agreement” and each other similar reference contained in the Agreement shall, after this Amendment becomes effective, refer to the Agreement as amended hereby.
     Section 2 . Amendment. Section 2.01(b) of the Agreement is amended to read as follows:
     ”Extension of Commitments. The Borrower may, upon not less than 45 days notice to the Servicing Agent (which shall notify each Bank of receipt of such request), propose to extend the Termination Date for an additional one-year period measured from the Termination Date then in effect. Each Bank shall endeavor to respond to such request, whether affirmatively or negatively (such determination in the sole discretion of such Bank), by notice to the Borrower and the Servicing Agent within 30 days of its receipt of such request. Subject to the execution by the Borrower, the Administrative Agents and such Banks of a duly completed Extension Agreement in substantially the form of Exhibit H (or other comparable documentation satisfactory to the Borrower and the Administrative Agents), the Termination Date applicable to the Commitment of each Bank so affirmatively notifying the Borrower and

 


 

the Servicing Agent shall be extended for the period specified above; provided that the Termination Date shall not be extended unless Banks having at least 66 2/3% in aggregate amount of the Commitments in effect at the time any such extension is requested shall have elected so to extend their Commitments. Any Bank which does not give such notice to the Borrower and the Servicing Agent shall be deemed to have elected not to extend as requested, and the Commitment of each non-extending Bank shall terminate on, and each of its outstanding Loans shall mature on a date no later than, the Termination Date determined without giving effect to such requested extension. The Borrower shall have the right, with the assistance of the Administrative Agents, to seek a mutually satisfactory substitute bank or banks or other financial institution (which may be, but need not be, an extending Bank) to replace a non-extending Bank.”
     Section 3 . Extension of Commitments. The Termination Date is hereby extended for a one-year period to December 7, 2010 as applicable to the Commitment of each Bank from which the Servicing Agent shall have received a signed counterpart as contemplated by Section 7(b) hereof.
     Section 4 . Representations of Borrower. The Borrower represents and warrants that on and as of the date hereof (i) the representations and warranties of such Borrower set forth in Article 4 of the Agreement are true and (ii) no Default has occurred and is continuing on such date.
     Section 5 . Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of New York.
     Section 6 . Counterparts. This Amendment may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.
     Section 7 . Effectiveness. (a) Section 2 of this Amendment shall become effective when the Servicing Agent shall have received from each of the Borrower and the Required Banks a counterpart hereof signed by such party or facsimile or other written confirmation (in form satisfactory to the Servicing Agent) that such party has signed a counterpart hereof.
     (b) Section 3 of this Amendment shall become effective when the Servicing Agent shall have received from each of the Borrower, the Administrative Agents and Banks having at least 66 2/3% in aggregate amount of the Commitments a counterpart hereof signed by such party or facsimile or other written confirmation (in form satisfactory to the Servicing Agent) that such party has signed a counterpart hereof.

 


 

          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written.
         
  THE CLOROX COMPANY
 
 
  By:     /s/ Charles R. Conradi    
    Name:   Charles R. Conradi   
    Title:   Treasurer   
 
     
  By:     /s/ Mary Beth Springer    
    Name:   Mary Beth Springer   
    Title:   Group V.P.   
 

 


 

         
  CITICORP USA, INC.,
     as a Bank, as Servicing Agent and as
     Administrative Agent
 
 
  By:     /s/ J. Gregory Davis    
    Name:   J. Gregory Davis   
    Title: Vice President   

 


 

         
         
  JPMORGAN CHASE BANK, N.A.,
     as a Bank and as Administrative
     Agent
 
 
  By:     /s/ William P. Rindfuss    
    Name:   William P. Rindfuss   
    Title:   Vice President   
 

 


 

         
  WACHOVIA BANK, N.A., as a Bank
 
 
  By:      /s/ Thomas M. Harper    
    Name:   Thomas M. Harper   
    Title:   Senior Vice President   
 

 


 

         
  THE BANK OF TOKYO-MITSUBISHI,
     LTD., SEATTLE BRANCH, as a
     Bank
 
 
  By:     /s/ Tsuneto Kodama    
    Name:   Tsuneto Kodama   
    Title:   General Manager   
 

 


 

         
  ING CAPITAL LLC, as a Bank
 
 
  By:     /s/ Bill Redmond    
    Name:   Bill Redmond   
    Title:   Managing Director   
 

 


 

         
  BNP PARIBAS, as a Bank
 
 
  By:     /s/ Katherine Wolfe    
    Name:   Katherine Wolfe   
    Title:   Director   
 
     
  By:   /s/ Sandy Bertram    
                  Sandy Bertram   
                  Vice President   
 

 


 

         
  CALYON NEW YORK BRANCH, as a
     Bank
 
 
  By:     /s/ Dianne M. Scott    
    Name:   Dianne M. Scott   
    Title:   Managing Director   
 
     
  By:   /s/ Richard Laborie    
    Name:   Richard Laborie   
    Title:   Director   
 

 


 

         
  WILLIAM STREET COMMITMENT
     CORPORATION (Recourse only to
     assets of William Street Commitment
     Corporation), as a Bank
 
 
  By:     /s/ Mark Walton    
    Name:   Mark Walton   
    Title:   Assistant Vice President   

 


 

         
         
  THE BANK OF NEW YORK, as a Bank
 
 
  By:     /s/ Lisa Y. Brown    
    Name:   Lisa Y. Brown   
    Title:   Managing Director   

 


 

         
         
  BANCO BILBAO VIZCAYA
     ARGENTARIA, S.A., as a Bank
 
 
  By:     /s/ Hector O. Villegas    
    Name:   Hector O. Villegas   
    Title:   Vice President
Global Corporate Banking 
 
 
     
  By:   /s/ Giampaolo Consigliere    
                  Giampaolo Consigliere   
                  Vice President
              Global Trade Finance 
 
 

 


 

         
  WELLS FARGO BANK, NATIONAL
     ASSOCIATION, as a Bank
 
 
  By:     /s/ Margarita Chichioco    
    Name:   Margarita Chichioco   
    Title:   Vice President   
 

 


 

         
  UNION BANK OF CALIFORNIA, N.A.,
     as a Bank
 
 
  By:     /s/ J. William Bloore    
    Name:   J. William Bloore   
    Title:   Vice President   

 


 

         
         
  U.S. BANK NATIONAL
     ASSOCIATION, as a Bank
 
 
  By:     /s/ Janet Jordan    
    Name:   Janet Jordan   
    Title:   Vice President   
 

 


 

         
  SANPAOLO IMA S.P.A., as a Bank
 
 
  By:     /s/ Renato Carducci    
    Name:   Renato Carducci   
    Title:   G.M.   
 
  SANPAOLO IMA S.P.A., as a Bank
 
 
  By:     /s/ Robert Wurster    
    Name:   Robert Wurster   
    Title:   S.V.P.   

 


 

         
         
  FIFTH THIRD BANK, as a Bank
 
 
  By:     /s/ Gary S. Losey    
    Name:   Gary S. Losey   
    Title:   AVP — Relationship Manager   
 

 


 

         
  THE NORTHERN TRUST COMPANY,
     as a Bank
 
 
  By:     /s/ John P. Brazzale    
    Name:   John P. Brazzale   
    Title:   Vice President