1 EXHIBIT 10(d) AMENDMENT NO. 1 TO FIVE YEAR REVOLVING CREDIT AGREEMENT
1
EXHIBIT 10(d)
AMENDMENT NO. 1
TO
FIVE YEAR REVOLVING CREDIT AGREEMENT
This Amendment No. 1 to Five Year Revolving Credit Agreement
("Amendment") is made and entered into as of the 31st day of March, 1997, by and
among The ▇▇▇▇▇▇▇-▇▇▇▇▇▇▇▇ Company ("Company"), whose principal place of
business is located at ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇.▇., ▇▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, Texas
Commerce Bank National Association ("TCB"), as Administrative Agent, The Chase
Manhattan Bank ("Chase"), as the Competitive Advance Facility Agent, and the
financial institutions listed on Schedule A hereto together with each of their
successors and assigns (collectively referred to as the "Lenders" and
individually a "Lender").
W I T N E S S E T H:
--------------------
WHEREAS, Company, TCB, Chase, the Lenders and certain other financial
institutions entered into that certain Five Year Revolving Credit Agreement,
dated January 3, 1997 ("Agreement"), pursuant to which the Lenders and certain
other financial institutions agreed, on the terms and subject to the conditions
contained therein, to make available to the Company the principal amount of One
Billion One Hundred Sixty Million Dollars ($1,160,000,000) to be used by the
Company for general corporate purposes including, but not limited to, the
acquisition of all or part of the business, assets or stock of ▇▇▇▇▇▇▇▇ Minwax
Holding Corp. (the "Acquisition"), commercial paper backup, general working
capital, other acquisitions of assets, stock or other ownership interests and
repurchases or redemptions of securities.
WHEREAS, Company consummated the Acquisition on January 7, 1997.
WHEREAS, Company has timely notified the following financial
institutions that were "Lenders" under the Agreement that their Commitments have
been terminated effective March 31, 1997: (i) Den Danske Bank, (ii) ▇▇▇▇▇▇
Guaranty Trust Company of New York, (iii) Comerica Bank, (iv) Caisse Nationale
de Credit Agricole, (v) The Dai Ichi Kangyo Bank, Ltd. - Chicago Branch, (vi)
Norddeutsche Landesbank Girozentrale - New York Branch and Cayman Islands
Branch, (vii) The Sumitomo Bank, Limited - Chicago Branch, and (viii) United
States National Bank of Oregon.
WHEREAS, Company, TCB, Chase and the Lenders desire to amend the
Agreement to (i) provide that the maximum amount of funds available to the
Company thereunder shall be Eight Hundred Sixty-Four Million Dollars
($864,000,000), to be used for general corporate purposes including, but not
limited to, commercial paper backup, general working capital, acquisitions of
assets, stock or other ownership interests and repurchases or redemptions of
securities, (ii) reduce the Commitments of certain of the Lenders, and (iii)
reflect the fact that the Commitments of certain financial institutions that
were "Lenders" under the Agreement have been terminated.
2
NOW, THEREFORE, in consideration of the mutual promises contained
herein the parties agree as follows:
1. All capitalized terms used in this Amendment and not otherwise defined
herein shall have the meanings ascribed such terms in the Agreement.
2. The Commitments and Percentages set forth on Schedule A attached to the
Agreement shall be deleted and the Commitments and Percentages set
forth on Schedule A attached hereto shall be substituted in lieu
thereof.
3. This Amendment may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when
so executed and delivered shall be deemed to be an original and when
taken together shall constitute one and the same agreement.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the date indicated above.
THE ▇▇▇▇▇▇▇-▇▇▇▇▇▇▇▇ COMPANY
By: /s/
---------------------------------------
▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: SENIOR VICE PRESIDENT-
FINANCE, TREASURER AND
CHIEF FINANCIAL OFFICER
By: /s/
---------------------------------------
▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: VICE PRESIDENT AND ASSISTANT
TREASURER
2
3
SCHEDULE A / 5-YEAR
-------------------
Amount of Percentage of
Institution Commitment Commitment
----------- ---------- --------------
Texas Commerce Bank National Association $52,000,000 6.0185%
First Union National Bank of North Carolina $52,000,000 6.0185%
The Bank of Nova Scotia $52,000,000 6.0185%
Nationsbank, N.A. $52,000,000 6.0185%
KeyBank National Association $52,000,000 6.0185%
The First National Bank of Chicago $52,000,000 6.0185%
The Bank of New York $52,000,000 6.0185%
SunTrust Bank $52,000,000 6.0185%
National City Bank $40,000,000 4.6296%
Royal Bank of Canada $40,000,000 4.6296%
Wachovia Bank of Georgia, N.A. $40,000,000 4.6296%
▇▇▇▇▇ Fargo Bank, N.A. $40,000,000 4.6296%
PNC Bank, National Association $40,000,000 4.6296%
ABN AMRO Bank N.V. $40,000,000 4.6296%
CIBC, Inc. $40,000,000 4.6296%
The Fuji Bank, Limited $24,000,000 2.7778%
The Bank of Tokyo-Mitsubishi, Ltd. $24,000,000 2.7778%
The First National Bank of Boston $24,000,000 2.7778%
Bank of Montreal $24,000,000 2.7778%
Banca Commerciale Italiana $24,000,000 2.7778%
The Long-Term Credit Bank of Japan, Ltd. $24,000,000 2.7778%
Mellon Bank, N.A. $24,000,000 2.7778%
TOTAL $864,000,000 100.00%
4
The Chase Manhattan Bank,
as the Competitive Advance Facility Agent
By: /s/
_______________________________
Name: ____________________________
Title: ___________________________
The Chase Manhattan Bank
▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
5
Amount of Percentage of
Commitment Commitments
---------- -------------
$52,000,000 6.0185% Texas Commerce Bank National
Association
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
Texas Commerce Bank National
Association
▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
6
Amount of Percentage of
Commitment Commitments
---------- -------------
$52,000,000 6.0185% First Union National Bank of North Carolina
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
First Union National Bank of North Carolina
▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
7
Amount of Percentage of
Commitment Commitments
---------- -------------
$52,000,000 6.0185% The Bank of Nova Scotia
Atlanta Agency
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
The Bank of Nova Scotia
Atlanta Agency
▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇., ▇.▇., ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
8
Amount of Percentage of
Commitment Commitments
---------- -------------
$52,000,000 6.0185% Nationsbank, N.A.
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
Nationsbank, N.A.
▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇▇, ▇.▇. ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
9
Amount of Percentage of
Commitment Commitments
---------- -------------
$52,000,000 6.0185% KeyBank National Association
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
KeyBank National Association
▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇
Mail Code: OH 01-27-0606
▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
10
Amount of Percentage of
Commitment Commitments
---------- -------------
$52,000,000 6.0185% The First National Bank of Chicago
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
The First National Bank of Chicago
▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
11
Amount of Percentage of
Commitment Commitments
---------- -------------
$52,000,000 6.0185% The Bank of New York
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
The Bank of New York
▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
12
Amount of Percentage of
Commitment Commitments
---------- -------------
$52,000,000 6.0185% SunTrust Bank, Atlanta
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
SunTrust Bank, Atlanta
▇▇ ▇▇▇▇ ▇▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
13
Amount of Percentage of
Commitment Commitments
---------- -------------
$40,000,000 4.6296% National City Bank
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
National City Bank
▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
14
Amount of Percentage of
Commitment Commitments
---------- -------------
$40,000,000 4.6296% Royal Bank of Canada
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
Royal Bank of Canada
▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
15
Amount of Percentage of
Commitment Commitments
---------- -------------
$40,000,000 4.6296% Wachovia Bank of Georgia, N.A.
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
Wachovia Bank of Georgia, N.A.
▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇., ▇.▇.
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
16
Amount of Percentage of
Commitment Commitments
---------- -------------
$40,000,000 4.6296% ▇▇▇▇▇ Fargo Bank, N.A.
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
▇▇▇▇▇ Fargo Bank, N.A.
▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇. - MAC 2818-165
▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
17
Amount of Percentage of
Commitment Commitments
---------- -------------
$40,000,000 4.6296% PNC Bank, National Association
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
PNC Bank, National Association
▇▇▇ ▇▇▇▇▇ ▇▇▇., ▇▇▇ ▇▇▇▇▇
▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
18
Amount of Percentage of
Commitment Commitments
---------- -------------
$40,000,000 4.6296% ABN AMRO Bank N.V.
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
ABN Amro Bank N.V.
▇▇▇ ▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
19
Amount of Percentage of
Commitment Commitments
---------- -------------
$10,000,000 4.6296% CIBC, Inc.
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
CIBC, Inc.
▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇., ▇▇▇ ▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
20
Amount of Percentage of
Commitment Commitments
---------- -------------
$24,000,000 2.7778% The Fuji Bank, Limited
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
The Fuji Bank, Limited
▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
21
Amount of Percentage of
Commitment Commitments
---------- -------------
$24,000,000 2.7778% The Bank of Tokyo-Mitsubishi, Ltd.
Chicago Branch
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
The Bank of Tokyo-Mitsubishi, Ltd.
Chicago Branch
▇▇▇ ▇. ▇▇▇▇▇▇ ▇▇., ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
22
Amount of Percentage of
Commitment Commitments
---------- -------------
$24,000,000 2.7778% The First National Bank of Boston
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
The First National Bank of Boston
▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇-▇▇-▇▇
▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
23
Amount of Percentage of
Commitment Commitments
---------- -------------
$24,000,000 2.7778% Bank of Montreal
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
Bank of Montreal
▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
24
Amount of Percentage of
Commitment Commitments
---------- -------------
$24,000,000 2.7778% Banca Commerciale Italiana
Chicago Branch
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
Banca Commerciale Italiana
Chicago Branch
▇▇▇ ▇. ▇▇▇▇▇▇▇▇ ▇▇▇., ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
25
Amount of Percentage of
Commitment Commitments
---------- -------------
$24,000,000 2.7778% The Long-Term Credit Bank of Japan, Ltd.
Chicago Branch
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
The Long-Term Credit Bank of Japan, Ltd.
Chicago Branch
▇▇▇ ▇. ▇▇▇▇▇▇▇ ▇▇., ▇▇▇▇▇ ▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Telephone: _____________________
Facsimile: _____________________
26
Amount of Percentage of
Commitment Commitments
---------- -------------
$24,000,000 2.7778% Mellon Bank, N.A.
By: /s/
___________________________________
Name: _________________________________
Title: ________________________________
Mellon Bank, N.A.
▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇
Telephone: _____________________
Facsimile: _____________________