Ex-10.4 Amendment No.2 to Amended and Restated Receivables Purchase Agreement

EX-10.4 5 g04796exv10w4.htm EX-10.4 AMENDMENT NO.2 TO AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT Ex-10.4
 

EXHIBIT 10.4
AMENDMENT NO. 2 TO AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT
     THIS AMENDMENT NO. 2 TO AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT, effective as of December 15, 2006 (this “Amendment”), is entered into by and among DEJ 98 Finance, LLC, a Delaware limited liability company (the “Seller”), Wolverine Finance, LLC, a Tennessee limited liability company, as initial servicer (the “Servicer”), Wolverine Tube, Inc., a Delaware corporation, as performance guarantor (the “Performance Guarantor” and, together with the Seller and the Servicer, the “Seller Parties”), Variable Funding Capital Company LLC, a Delaware limited liability company (“VFCC”), The CIT Group/Business Credit, Inc., a New York corporation (“CIT/BC”), individually and as co-agent (the “Co-Agent”), and Wachovia Bank, National Association, individually (together with VFCC and CIT/BC, the “Purchasers”), and as agent for the Purchasers (together with its successors and assigns in such capacity, the “Agent”).
PRELIMINARY STATEMENTS
     The Seller Parties, the Purchasers and the Agent are parties to that certain Amended and Restated Receivables Purchase Agreement dated as of April 4, 2006, as heretofore amended (the “Existing Agreement”).
     The parties wish to amend the Existing Agreement as hereinafter set forth.
     NOW, THEREFORE, in consideration of the premises, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:
     1. Definitions. Capitalized terms used and not otherwise defined herein are used with the meanings attributed thereto in the Existing Agreement.
     2. Amendment. The definition of “U.S. Originator” set forth in the Existing Agreement is hereby amended and restated in its entirety to read as follows:
     “U.S. Originator” means each of Wolverine Tube, Inc., a Delaware corporation, Tube Forming, LP, a Delaware limited partnership, Wolverine Joining Technologies, LLC, a Delaware limited liability company and Small Tube Manufacturing LLC, a Delaware limited liability company, each in its capacity as a seller under the U.S. Receivables Sale Agreement.

 


 

     3. Representations.
     3.1. Each of the Seller Parties represents and warrants to the Purchasers and the Agent that it has duly authorized, executed and delivered this Amendment and that the Existing Agreement, as amended hereby, constitutes, a legal, valid and binding obligation of such Seller Party, enforceable in accordance with its terms (except as enforceability may be limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability).
     3.2. Each of the Seller Parties further represents and warrants to the Purchasers and the Agent that, after giving effect to this Amendment, each of its representations and warranties set forth in Section 5.1 of the Existing Agreement is true and correct as of the date hereof and that no Amortization Event or Unmatured Amortization Event exists as of the date hereof and is continuing.
     4. Condition Precedent. This Amendment shall become effective as of the date first above written upon receipt by the Agent of a counterpart hereof duly executed by each of the parties hereto.
     5. Miscellaneous.
     5.1. Except as expressly amended hereby, the Existing Agreement shall remain unaltered and in full force and effect, and each of the parties hereby ratifies and confirms the Existing Agreement and each of the other Transaction Documents to which it is a party. Without limiting the generality of the foregoing, the Performance Guarantor hereby specifically ratifies and confirms the Performance Undertaking and agrees that it remains unaltered and in full force and effect.
     5.2. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO PRINCIPLES OF CONFLICTS OF LAW.
     5.3. This Amendment may be executed in any number of counterparts and by the different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same Amendment. Delivery of any executed counterpart by facsimile or electronic mail with an attached image of such executed counterpart shall have the same force and effect as delivery of an originally executed counterpart.

 


 

     IN WITNESS WHEREOF, the parties hereto have executed this Amendment effective as of the date first above written.
         
  DEJ 98 FINANCE, LLC
 
 
  By:   /s/ James E. Deason    
    Name:   James E. Deason   
    Title:   Member, Board of Managers   
 
         
  WOLVERINE FINANCE, LLC
 
 
  By:   /s/ James E. Deason    
    Name:   James E. Deason   
    Title:   Vice Manager and Treasurer   

 


 

         
         
  WOLVERINE TUBE, INC.
 
 
  By:   /s/ James E. Deason    
    Name:   James E. Deason   
    Title:   Senior Vice President, Chief Financial Officer
and Secretary 
 

 


 

         
         
  THE CIT GROUP/BUSINESS CREDIT, INC.,
individually and as Co-Agent
 
 
  By:   /s/ C. Mark Smith    
    Name:   C. Mark Smith   
    Title:   Vice President   

 


 

         
         
  WACHOVIA BANK, NATIONAL ASSOCIATION,
individually and as Agent
 
 
  By:   /s/ Elizabeth R. Wagner    
    Name:   Elizabeth R. Wagner   
    Title:   Managing Director   

 


 

         
VARIABLE FUNDING CAPITAL COMPANY LLC

By: Wachovia Capital Markets, LLC, its attorney-in-fact
         
     
  By:   /s/ Douglas R. Wilson, SR.    
    Name:   Douglas R. Wilson, SR.   
    Title:   Vice President