EXHIBIT 10.3
COMMITMENT INCREASE AGREEMENT
THIS COMMITMENT INCREASE AGREEMENT (this "Agreement") dated as of March
30, 2007 to the Credit Agreement referenced below is among BRIGHTPOINT, INC., an
Indiana corporation (the "Parent"), BRIGHTPOINT NORTH AMERICA L.P., a Delaware
limited partnership ("Bright North America"), BRIGHTPOINT PHILIPPINES LIMITED, a
British Virgin Islands company ("Bright BVI"), BRIGHTPOINT HOLDINGS B.V., a
Netherlands company ("Bright Netherlands"), BRIGHTPOINT AUSTRALIA PTY. LTD., an
Australian company ("Bright Australia" and together with the Parent, Bright
North America, Bright BVI and Bright Netherlands, the "Borrowers"), the
Guarantors identified on the signature pages hereto (the "Guarantors"), the
Lenders identified on the signature pages hereto as "Increasing Lenders" (the
"Increasing Lenders") and BANK OF AMERICA, N.A., as Administrative Agent.
WITNESSETH
WHEREAS, a $165 million revolving credit facility has been extended to
the Borrowers pursuant to the Credit Agreement (as amended, modified and
supplemented from time to time, the "Credit Agreement") dated as of February 16,
2007 among the Borrowers, the Guarantors, the Lenders identified therein and the
Administrative Agent;
WHEREAS, pursuant to Section 2.01(b) of the Credit Agreement, the
Parent has the right to increase the Aggregate Revolving Commitments by up to
$75 million with additional Revolving Commitments from any existing Lender or
new Revolving Commitments from any other Person selected by the Parent and
approved by the Administrative Agent in its reasonable discretion;
WHEREAS, the Parent has notified the Administrative Agent that the
Parent intends to increase the Aggregate Revolving Commitments with additional
Revolving Commitments from existing Lenders.
NOW, THEREFORE, IN CONSIDERATION of the premises and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:
1. Defined Terms. Capitalized terms used herein but not defined herein
shall have the meanings assigned to such terms in the Credit Agreement.
2. Increase in Revolving Commitments. Each Increasing Lender agrees
that the Revolving Commitment of such Increasing Lender is increased to the US
Dollar amount set forth opposite such Increasing Lender's name on Schedule 1
attached hereto. The Borrowers and the Guarantors agree that the additional
Revolving Commitments provided hereunder shall be subject to all of the terms,
conditions and other provisions of the Credit Agreement.
3. Conditions Precedent. This Agreement shall be effective as of the
date hereof upon satisfaction of each of the following conditions precedent:
(a) receipt by the Administrative Agent of this Agreement
executed by the Borrowers, the Guarantors and the Increasing Lenders;
(b) receipt by the Administrative Agent of resolutions of each
Loan Party approving this Agreement and the increase in the Aggregate
Revolving Commitments set forth herein; and
(c) payment by the Borrower of all fees owing in connection with
this Agreement.
4. Reaffirmation of Guaranty. Each Guarantor (a) acknowledges and
consents to all of the terms and conditions of this Agreement, (b) agrees that
this Agreement and all documents executed in connection herewith do not operate
to reduce or discharge such Guarantor's obligations under the Loan Documents and
(c) agrees that this Agreement shall in no manner impair or otherwise adversely
effect any of the Liens granted in or pursuant to the Loan Documents.
5. Governing Law. This Agreement shall be deemed to be a contract made
under, and for all purposes shall be construed in accordance with, the laws of
the State of New York.
6. Counterparts. This Agreement may be executed in multiple
counterparts, each of which shall constitute an original but all of which when
taken together shall constitute one contract.
[Signature Pages Follow]
IN WITNESS WHEREOF, the parties hereto have caused this Credit
Agreement to be duly executed as of the date first above written.
BORROWERS: BRIGHTPOINT, INC., an Indiana corporation
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
Title: Executive Vice President, Chief Financial
Officer & Treasurer
BRIGHTPOINT NORTH AMERICA L.P., a Delaware
limited partnership
By: Brightpoint North America, Inc., its
general partner
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
Title: Executive Vice President, Chief Financial
Officer & Treasurer
BRIGHTPOINT PHILIPPINES LIMITED, a British Virgin
Islands company
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Director
BRIGHTPOINT HOLDINGS B.V., a Netherlands company
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
---------------------------------
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Managing Director
By: /s/ N.J.J.M. ▇▇▇▇▇▇▇▇-▇▇▇▇▇▇▇▇▇ /s/ ▇.▇. ▇▇▇ ▇▇▇▇▇
---------------------------------------------------
Name: Fortis Intertrust (Netherlands) B.V.
Title: Managing Director
BRIGHTPOINT AUSTRALIA PTY )
LTD in the presence of: )
)
/s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ )
------------------------------- )
Signature of witness )
▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ ) /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
------------------------------- ) --------------------
Name of witness (block letters) ) ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
) Director
[Signature Pages Follow]
GUARANTORS: 2601 METROPOLIS CORP., an Indiana corporation
BRIGHTPOINT INTERNATIONAL LTD., a Delaware corporation
BRIGHTPOINT NORTH AMERICA, INC., an Indiana corporation
BRIGHTPOINT LATIN AMERICA, INC., an Indiana corporation
BRIGHTPOINT THAILAND, INC., an Indiana corporation
WIRELESS FULFILLMENT SERVICES HOLDINGS, INC.,
a Delaware corporation
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
--------------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
Title: Executive Vice President, Chief Financial
Officer & Treasurer of each of the foregoing
BRIGHTPOINT ACTIVATION SERVICES, LLC,
an Indiana limited liability company
By: Brightpoint North America L.P., its Manager
By: Brightpoint North America, Inc.,
its general partner
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
--------------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
Title: Executive Vice President, Chief
Financial Officer & Treasurer
BRIGHTPOINT SERVICES, LLC, an Indiana limited
liability company
By: Brightpoint Inc., its Manager
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
--------------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
Title: Executive Vice President,
Chief Financial Officer & Treasurer
TRIO INDUSTRIES, INC., a Texas corporation
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
-----------------------------------------
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Executive Vice President, General Counsel &
Secretary
WIRELESS FULFILLMENT SERVICES LLC,
a California limited liability company
By: Brightpoint Inc., its Manager
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
--------------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
Title: Executive Vice President, Chief
Financial Officer & Treasurer
ADMINISTRATIVE
AGENT: BANK OF AMERICA, N.A., as Administrative Agent
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇.
-------------------------------
Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇.
Title: Assistant Vice President
INCREASING
LENDERS: BANK OF AMERICA, N.A.
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
-------------------------------
Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
Title: Managing Director
▇▇▇▇▇ FARGO BANK, N.A.
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
-------------------------------
Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Vice President
CITIBANK, N.A.
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇
-------------------------------
Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇
Title: Managing Director and Vice President
FIFTH THIRD BANK, INC.
By: /s/ ▇▇▇▇▇ ▇'▇▇▇▇
-------------------------------
Name: ▇▇▇▇▇ ▇'▇▇▇▇
Title: Vice President
GENERAL ELECTRIC CAPITAL CORPORATION
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
-------------------------------
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Duly Authorized Signatory
ABN AMRO BANK N.V.
By: /s/ ▇▇▇ ▇▇▇▇▇▇▇
-------------------------------
Name: ▇▇▇ ▇▇▇▇▇▇▇
Title: Group Senior Vice President
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
-------------------------------
Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: Vice President
NATIONAL CITY BANK
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
-------------------------------
Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: V.P.
DEUTSCHE BANK AG NEW YORK BRANCH
By: /s/ ▇▇▇▇ ▇'▇▇▇▇▇
-------------------------------
Name: ▇▇▇▇ ▇'▇▇▇▇▇
Title: Vice President
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
-------------------------------
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
Title: Vice President
Schedule 2.01
INCREASE IN REVOLVING COMMITMENTS
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Revolving Commitment Prior to Revolving Commitment After Giving
Lender Giving Effect to this Agreement Effect to this Agreement
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Bank of America, N.A. $30,000,000 $35,000,000
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General Electric Capital Corporation $27,000,000 $30,000,000
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▇▇▇▇▇ Fargo Bank, N.A. $25,000,000 $30,000,000
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ABN-AMRO Bank N.V. $17,000,000 $40,000,000
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Citibank, N.A. $14,000,000 $25,000,000
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Fifth Third Bank, Inc. $14,000,000 $25,000,000
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Deutsche Bank AG New York Branch $14,000,000 $25,000,000
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National City Bank $14,000,000 $20,000,000
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