Third Amendment to Credit Agreement among Wolverine World Wide, Inc., Foreign Subsidiary Borrowers, and Lenders

Summary

This amendment updates a previous credit agreement between Wolverine World Wide, Inc., its foreign subsidiaries, and several banks. The main change is extending a key date in the agreement from December 31, 2002, to April 30, 2003. All parties confirm their authority to enter into this amendment and that no defaults exist. The amendment becomes effective once signed by the required parties, and all other terms of the original agreement remain in effect.

EX-4.13 4 wwwex413_0303.htm WWW Exhibit 4.13 to Form 10-K 2003

Exhibit 4.13

THIRD AMENDMENT TO CREDIT AGREEMENT

          THIS THIRD AMENDMENT TO CREDIT AGREEMENT, dated as of December 19, 2002 (this "Amendment"), is among WOLVERINE WORLD WIDE, INC., a Delaware corporation (the "Company"), the Foreign Subsidiary Borrowers (collectively with the Company, the "Borrowers" and each a "Borrower"), the lenders party hereto from time to time (collectively, the "Banks" and, individually, a "Bank"), Bank One, Michigan, a Michigan banking corporation, as Agent, Harris Trust and Savings Bank, as syndication agent (in such capacity, the "Syndication Agent") and Comerica Bank, as documentation agent (in such capacity, the "Documentation Agent").

R E C I T A L

          The Borrowers, the Banks party thereto and the Agent are parties to a Credit Agreement dated as of May 29, 2001, as amended by a First Amendment to Credit Agreement dated as of February 8, 2002 and a Second Amendment to Credit Agreement dated as of August 30, 2002 (the "Credit Agreement"). The Borrowers desire to amend the Credit Agreement and the Agent and the Banks are willing to do so in accordance with the terms hereof.

T E R M S

          In consideration of the premises and of the mutual agreements herein contained, the parties agree as follows:

ARTICLE 1.
AMENDMENTS

          The Credit Agreement is amended as follows:

          1.1 Reference in Section 3.7(a) to "December 31, 2002" shall be deleted and "April 30, 2003" is substituted in place thereof.

ARTICLE 2.
REPRESENTATIONS

          Each Borrower represents and warrants to the Agent and the Banks that:

          2.1          The execution, delivery and performance by each Borrower of this Amendment are within its corporate powers, have been duly authorized by all necessary corporate action and are not in contravention of any law, rule or regulation, or any judgment, decree, writ, injunction, order or award of any arbitrator, court or governmental authority, or of the terms of such Borrower's charter or by-laws, or of any contract or undertaking to which such Borrower is a party or by which such Borrower or its property may be bound or affected.

          2.2 This Amendment is the legal, valid and binding obligations of each Borrower enforceable against such Borrower in accordance with their respective terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting enforcement of creditors' rights generally and by general principles of equity (whether applied in a proceeding at law or in equity).





          2.3 After giving effect to the amendments herein contained, the representations and warranties contained in the Loan Documents are true in all material respects on and as of the date hereof with the same force and effect as if made on and as of the date hereof.

          2.4 After giving effect to the amendments herein contained, no Event of Default or Unmatured Default exists or has occurred and is continuing on the date hereof.


ARTICLE 3.
CONDITIONS PRECEDENT.

          This Amendment shall be effective as of the date hereof when it shall be executed by the Borrowers, the Required Banks and the Agent.


ARTICLE 4.
MISCELLANEOUS.


          4.1          References in the Credit Agreement and any other Loan Document to the Credit Agreement shall be deemed to be references to the Credit Agreement as amended hereby and as further amended from time to time.

          4.2          Except as expressly amended hereby, each Borrower agrees that the Loan Documents are ratified and confirmed and shall remain in full force and effect and that it has no set off, counterclaim, defense or other claim or dispute with respect to any of the foregoing. The terms used but not defined herein shall have the respective meanings ascribed thereto in the Credit Agreement.

          4.3          This Amendment may be signed upon any number of counterparts with the same effect as if the signatures thereto and hereto were upon the same instrument, and telecopied signatures shall be enforceable as originals.

















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          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the day and year first above written.

 

WOLVERINE WORLD WIDE, INC.

 

 

 

 

 

By:

/s/ S. Gulis Jr.


 

 

 

 

Its:

EVP - CFO


 

 

 

HUSH PUPPIES CANADA FOOTWEAR, LTD.

 

 

 

 

 

By:

/s/ S. Gulis Jr.


 

 

 

 

Its:

Director and Authorized Officer


 

 

 

HUSH PUPPIES (U.K.) LTD.

 

 

 

 

 

By:

/s/ S. Gulis Jr.


 

 

 

 

Its:

Director and Authorized Officer


 

 

 

MERRELL (EUROPE) LIMITED

 

 

 

 

 

By:

/s/ S. Gulis Jr.


 

 

 

 

Its:

Authorized Officer


 

 

 

WOLVERINE EUROPE B.V.

 

 

 

 

 

By:

/s/ S. Gulis Jr.


 

 

 

 

Its:

Director


 

 

 

WOLVERINE EUROPE LIMITED

 

 

 

 

 

By:

/s/ NP Ottenwess


 

 

 

 

Its:

Director


 

 

 

WOLVERINE WORLD WIDE
EUROPE LIMITED

 

 

 

 

 

By:

/s/ NP Ottenwess


 

 

 

 

Its:

Director



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BANK ONE, NA (as successor by merger to Bank
One, Michigan),
as a Bank and as Agent

 

 

 

 

 

By:

/s/ Glenn A. Currin


 

 

Glenn A. Currin

 

 

 

 

 

Its:

Managing Director















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HARRIS TRUST AND SAVINGS BANK,
     as a Bank and as Syndication Agent

 

 

 

 

 

By:

/s/ Kirby M. Law


 

 

Kirby M. Law

 

 

Its:

Vice President















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COMERICA BANK,
     as a Bank and as Documentation Agent

 

 

 

 

 

By:

/s/ Jeffrey J. Judy


 

 

 

 

Its:

Vice President















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STANDARD FEDERAL BANK N.A., formerly
known as Michigan National Bank

 

 

 

 

 

By:

/s/ Jason Byrd


 

 

 

 

 

Its:

AVP















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NATIONAL CITY BANK OF
MICHIGAN/ILLINOIS

 

 

 

 

 

By:

/s/ William C. Goodhue


 

 

William C. Goodhue

 

 

Its:

Senior Vice President















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FIFTH THIRD BANK, formerly known as Old
Kent Bank

 

 

 

 

 

By:

/s/ David A. Foote


 

 

David A. Foote

 

 

Its:

Vice President















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BANK ONE, NA, CANADA BRANCH

 

 

 

 

 

By:

 


 

 

 

 

 

Its:

 















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