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EXHIBIT 4.1
FIRST AMENDMENT TO
AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT
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This First Amendment to Amended and Restated Revolving Credit Agreement
(the "Amendment") is made as of June 30, 1998, by and among Developers
Diversified Realty Corporation ("Borrower"), The First National Bank of Chicago,
individually and as "Administrative Agent," and the "Lenders" shown on the
signature pages hereof.
R E C I T A L S
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A. Borrower, Administrative Agent and the Lenders have entered into an
Amended and Restated Credit Agreement dated as of February 24, 1998 (as amended,
the "Credit Agreement"). All capitalized terms used herein and not otherwise
defined shall have the meanings give to them in the Credit Agreement.
B. Pursuant to the terms of the Credit Agreement, the Lenders initially
agreed to provide Borrower with a revolving credit facility in an aggregate
principal amount of up to $250,000,000. The Borrower, the Administrative Agent
and the Lenders now desire to amend the Credit Agreement in order to (i)
increase the Aggregate Commitment to $300,000,000; and
(ii) make certain other changes to the Credit Agreement.
NOW, THEREFORE, in consideration of the foregoing Recitals and for
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:
AGREEMENTS
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1. The foregoing Recitals to this Amendment hereby are incorporated
into and made part of this Amendment.
2. From and after the date on which this Amendment and the amended and
restated Notes described below have been fully executed and delivered (the
"Effective Date") certain of the Lenders shall be deemed to have increased their
respective Commitments to the amounts shown on Attachment A to this Amendment
and the respective Percentages of all the Lenders shall be revised as shown on
Attachment A to this Amendment. The Borrower shall, on or before the Effective
Date, execute and deliver to each Lender increasing its Commitment an amended
and restated note in the amount of such increased Commitment. The Lenders shall
cooperate on the Effective Date to adjust their respective ratable Loans to
conform to the new Percentages as described in Section 2.1 hereof.
3. From and after the Effective Date, the Aggregate Commitment shall
equal Three Hundred Million Dollars ($300,000,000).
4. For purposes of facilitating further increases in the Aggregate
Commitment, Section 2.1 of the Credit Agreement entitled, COMMITMENTS: REDUCTION
OR INCREASE IN AGGREGATE COMMITMENT, is hereby amended by replacing the amount
"$300,000,000" therein with the
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amount "$400,000,000." Similarly Section 8.2 of the Credit Agreement, entitled,
Amendments, is hereby amended by deleting the amount "$300,000,000" appearing in
clause (iv) thereof and replacing it with the amount "$400,000,000."
5. The Borrower hereby represents and warrants that, as of the
Effective Date, there is no Default or Unmatured Default, the representations
and warranties contained in Article V of the Credit Agreement are true and
correct as of such date and the Borrower has no offsets or claims against any of
the Lenders.
6. As expressly modified as provided herein, the Credit Agreement shall
continue in full force and effect.
7. This Amendment may be executed in any number of counterparts, all of
which taken together shall constitute one agreement, and any of the parties
hereto may execute this Amendment by singing any such counterpart.
IN WITNESS WHEREOF, the parties have executed and delivered this
Amendment as of the date first written above.
DEVELOPERS DIVERSIFIED REALTY
CORPORATION
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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Print Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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Title: Vice President and CEO
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Phone: 216/▇▇▇-▇▇▇▇
Facsimile: 216/247-1118
Attention: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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THE FIRST NATIONAL BANK OF CHICAGO,
Individually and as Administrative Agent
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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Print Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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Title: Vice President
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Phone: 312/▇▇▇-▇▇▇▇
Facsimile: 312/732-1117
Attention: Real Estate Finance Department
BANK OF AMERICA NATIONAL TRUST &
SAVINGS ASSOCIATION, a national banking
association
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇, ▇▇.
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Print Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇, ▇▇.
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Title: Vice President
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Phone: 312/▇▇▇-▇▇▇▇
Facsimile: 312/974-4970
Attention: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇, ▇▇., Vice President
COMMERZBANK AKTIENGESELLSCHAFT
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇
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Print Name: ▇▇▇▇ ▇▇▇▇▇▇
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Title: Vice President
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Phone: 312/▇▇▇-▇▇▇▇
Facsimile: 312/435-1485
Attention: ▇▇▇▇▇▇▇ Shortly
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FLEET NATIONAL BANK
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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Print Name: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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Title: Vice President
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Phone: 617/▇▇▇-▇▇▇▇
Facsimile: 617/346-3220
Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇, Vice President
UNION BANK OF SWITZERLAND, NEW
YORK BRANCH
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Print Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Title: Director
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Phone: 212/▇▇▇-▇▇▇▇
Facsimile: 212/821-4138
Attention: ▇▇▇ ▇▇▇▇▇▇
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AMSOUTH BANK
By: /s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
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Print Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
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Title: Vice President
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▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇
▇▇▇▇▇▇▇ ▇▇▇▇▇ Sonar Tower, 9th Floor
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Phone: 205/▇▇▇-▇▇▇▇
Facsimile: 205/326-4075
Attention: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Vice President
PNC BANK, NATIONAL ASSOCIATION
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
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Print Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇
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Title: Vice President
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One PNC Plaza
249 5th Avenue, Mail Stop P1-▇▇▇▇-19-2
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Phone: 412/▇▇▇-▇▇▇▇
Facsimile: 412/762-6500
Attention: ▇▇▇▇ ▇▇▇▇
BANK ONE
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
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Print Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
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Title: Vice President
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Phone: 216/▇▇▇-▇▇▇▇
Facsimile: 216/781-4567
Attention: ▇▇▇ ▇▇▇▇▇
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COMERICA BANK
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇
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Print Name: ▇▇▇▇▇▇ ▇▇▇▇▇
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Title: Account Officer
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Phone: 313/▇▇▇-▇▇▇▇
Facsimile: 313/222-9295
Attention: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, Vice President
FIRST UNION NATIONAL BANK
By: /s/ ▇▇▇▇ ▇. Schissal
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Print Name: ▇▇▇▇ ▇. SCHISSAL
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Title: Director
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Phone: 704/▇▇▇-▇▇▇▇
Facsimile: 704/383-6205
Attention: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
MELLON BANK, N.A.
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
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Print Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇
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Title: Vice President
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▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Phone: 412/▇▇▇-▇▇▇▇
Facsimile: 412/234-8657
Attention: ▇▇▇ ▇▇▇▇▇▇▇▇
