2
3
4
5
6
7
8
SUNGARD DATA SYSTEMS INC., | ||||||||
BY | * | |||||||
NAME: | RICHARD J. OBETZ | |||||||
TITLE: | VICE PRESIDENT, FINANCE and TREASURER | |||||||
SUNGARD HOLDCO LLC, | ||||||||
BY | * | |||||||
NAME: | RICHARD J. OBETZ | |||||||
TITLE: | VICE PRESIDENT | |||||||
SUNGARD UK HOLDINGS LIMITED, | ||||||||
BY | * | |||||||
NAME: | RICHARD J. OBETZ | |||||||
TITLE: | DIRECTOR |
* | The signature appearing immediately below shall serve as a signature at each place indicated with an “*” on this page. |
BY: | /s/ Richard J. Obetz |
the Second Refinancing and Incremental Amendment
JPMORGAN CHASE BANK, N.A., individually and as Administrative Agent, Collateral Agent, Swing Line Lender And L/C Issuer, | ||||
BY: | /s/ Ann B. Kerns | |||
NAME: | ANN B. KERNS | |||
TITLE: | VICE PRESIDENT |
the Second Refinancing and Incremental Amendment
To approve the Amendment: Name of Revolving Credit Lender, BANK OF AMERICA, N.A. | ||||
BY: | /s/ Laura Warner | |||
NAME: | LAURA WARNER | |||
TITLE: | DIRECTOR |
the Second Refinancing and Incremental Amendment
To approve the Amendment: Name of Revolving Credit Lender, BARCLAYS BANK PLC | ||||
BY: | /s/ Jean Francois Astier | |||
NAME: | JEAN FRANCOIS ASTIER | |||
TITLE: | MANAGING DIRECTOR |
the Second Refinancing and Incremental Amendment
To approve the Amendment: Name of Revolving Credit Lender, CITICORP NORTH AMERICA, INC. | ||||
BY: | /s/ Christoper Wood | |||
NAME: | CHRISTOPHER WOOD | |||
TITLE: | VICE PRESIDENT |
the Second Refinancing and Incremental Amendment
To approve the Amendment: Name of Revolving Credit Lender, CREDIT SUISSE AG CAYMAN ISLANDS BRANCH | ||||
BY: | /s/ Christoper Reo Day | |||
NAME: | CHRISTOPHER REO DAY | |||
TITLE: | VICE PRESIDENT | |||
/s/ Vipul Dhadda | ||||
NAME: | VIPUL DHADDA | |||
TITLE: | ASSOCIATE |
the Second Refinancing and Incremental Amendment
To approve the Amendment: Name of Revolving Credit Lender, GOLDMAN SACHS CREDIT PARTNERS L.P. | ||||
BY: | /s/ Mark Walton | |||
NAME: | MARK WALTON | |||
TITLE: | AUTHORIZED SIGNATORY |
the Second Refinancing and Incremental Amendment
To approve the Amendment: Name of Revolving Credit Lender, JPMORGAN CHASE BANK, N.A. | ||||
BY: | /s/ Ann B. Kerns | |||
NAME: | ANN B. KERNS | |||
TITLE: | VICE PRESIDENT |
the Second Refinancing and Incremental Amendment
To approve the Amendment: Name of Revolving Credit Lender, MORGAN STANLEY BANK, N.A. | ||||
BY: | /s/ Sherrese Clarke | |||
NAME: | SHERRESE CLARKE | |||
TITLE: | AUTHORIZED SIGNATORY |
the Second Refinancing and Incremental Amendment
To approve the Amendment: Name of Revolving Credit Lender, MORGAN STANLEY SENIOR FUNDING, INC. | ||||
BY: | /s/ Sherrese Clarke | |||
NAME: | SHERRESE CLARKE | |||
TITLE: | VICE PRESIDENT |
the Second Refinancing and Incremental Amendment
To approve the Amendment: Name of Revolving Credit Lender, ROYAL BANK OF CANADA | ||||
BY: | /s/ Mark S. Gronich | |||
NAME: | MARK S. GRONICH | |||
TITLE: | AUTHORIZED SIGNATORY |
THE OVERSEAS BORROWERS PARTY HERETO,
as Borrowers,
as Administrative Agent, Swing Line Lender and L/C Issuer,
Page | ||||
ARTICLE I | ||||
Definitions and Accounting Terms | ||||
SECTION 1.01. Defined Terms | 1 | |||
SECTION 1.02. Other Interpretive Provisions | 56 | |||
SECTION 1.03. Accounting Terms | 57 | |||
SECTION 1.04. Rounding | 57 | |||
SECTION 1.05. References to Agreements, Laws, Etc | 57 | |||
SECTION 1.06. Times of Day | 57 | |||
SECTION 1.07. Timing of Payment of Performance | 57 | |||
SECTION 1.08. Currency Equivalents Generally | 58 | |||
SECTION 1.09. Change of Currency | 58 | |||
ARTICLE II | ||||
The Commitments and Credit Extensions | ||||
SECTION 2.01. The Loans | 58 | |||
SECTION 2.02. Borrowings, Conversions and Continuations of Loans | 60 | |||
SECTION 2.03. Letters of Credit | 62 | |||
SECTION 2.04. Swing Line Loans | 70 | |||
SECTION 2.05. Prepayments | 72 | |||
SECTION 2.06. Termination or Reduction of Commitments | 76 | |||
SECTION 2.07. Repayment of Loans | 77 | |||
SECTION 2.08. Interest | 78 | |||
SECTION 2.09. Fees | 78 | |||
SECTION 2.10. Computation of Interest and Fees | 79 | |||
SECTION 2.11. Evidence of Indebtedness | 79 | |||
SECTION 2.12. Payments Generally | 80 | |||
SECTION 2.13. Sharing of Payments | 82 | |||
SECTION 2.14. Designation of Overseas Revolver Borrower; Termination of Designations | 83 | |||
SECTION 2.15. Incremental Credit Extensions | 83 | |||
SECTION 2.16. Overseas Borrower Costs | 85 | |||
SECTION 2.17. Currency Equivalents | 86 | |||
SECTION 2.18. Refinancing Amendments | 86 |
Page | ||||
ARTICLE III | ||||
Taxes, Increased Costs Protection and Illegality | ||||
SECTION 3.01. Taxes | 87 | |||
SECTION 3.02. Illegality | 89 | |||
SECTION 3.03. Inability to Determine Rates | 90 | |||
SECTION 3.04. Increased Cost and Reduced Return; Capital Adequacy; Reserves on Eurocurrency Rate Loans | 90 | |||
SECTION 3.05. Funding Losses | 92 | |||
SECTION 3.06. Matters Applicable to All Requests for Compensation | 92 | |||
SECTION 3.07. Replacement of Lenders under Certain Circumstances | 93 | |||
SECTION 3.08. Survival | 94 | |||
ARTICLE IV | ||||
Conditions Precedent to Credit Extensions | ||||
SECTION 4.01. Conditions of Initial Credit Extension | 95 | |||
SECTION 4.02. Conditions to All Credit Extensions | 97 | |||
SECTION 4.03. First Credit Extension to an Overseas Revolver Borrower | 97 | |||
ARTICLE V | ||||
Representations and Warranties | ||||
SECTION 5.01. Existence, Qualification and Power; Compliance with Laws | 98 | |||
SECTION 5.02. Authorization; No Contravention | 98 | |||
SECTION 5.03. Governmental Authorization; Other Consents | 99 | |||
SECTION 5.04. Binding Effect | 99 | |||
SECTION 5.05. Financial Statements; No Material Adverse Effect | 99 | |||
SECTION 5.06. Litigation | 100 | |||
SECTION 5.07. No Default | 100 | |||
SECTION 5.08. Ownership of Property; Liens | 100 | |||
SECTION 5.09. Environmental Compliance | 101 | |||
SECTION 5.10. Taxes | 102 | |||
SECTION 5.11. ERISA Compliance | 102 | |||
SECTION 5.12. Subsidiaries; Equity Interests | 102 | |||
SECTION 5.13. Margin Regulations; Investment Company Act; Public Utility Holding Company Act | 102 | |||
SECTION 5.14. Disclosure | 103 | |||
SECTION 5.15. Intellectual Property; Licenses, Etc | 103 | |||
SECTION 5.16. Solvency | 103 | |||
SECTION 5.17. Representations and Warranties of Overseas Revolver Borrowers | 103 | |||
SECTION 5.18. Subordination of Junior Financing | 104 | |||
SECTION 5.19. Labor Matters | 104 |
ii
Page | ||||
ARTICLE VI | ||||
Affirmative Covenants | ||||
SECTION 6.01. Financial Statements | 104 | |||
SECTION 6.02. Certificates; Other Information | 105 | |||
SECTION 6.03. Notices | 107 | |||
SECTION 6.04. Payment of Obligations | 107 | |||
SECTION 6.05. Preservation of Existence, Etc | 107 | |||
SECTION 6.06. Maintenance of Properties | 108 | |||
SECTION 6.07. Maintenance of Insurance | 108 | |||
SECTION 6.08. Compliance with Laws | 108 | |||
SECTION 6.09. Books and Records | 108 | |||
SECTION 6.10. Inspection Rights | 108 | |||
SECTION 6.11. Covenant to Guarantee Obligations and Give Security | 109 | |||
SECTION 6.12. Compliance with Environmental Laws | 111 | |||
SECTION 6.13. Further Assurances and Post-Closing Conditions | 112 | |||
SECTION 6.14. Ownership of Overseas Borrowers | 113 | |||
SECTION 6.15. Designation of Subsidiaries | 113 | |||
ARTICLE VII | ||||
Negative Covenants | ||||
SECTION 7.01. Liens | 113 | |||
SECTION 7.02. Investments | 117 | |||
SECTION 7.03. Indebtedness | 120 | |||
SECTION 7.04. Fundamental Changes | 123 | |||
SECTION 7.05. Dispositions | 125 | |||
SECTION 7.06. Restricted Payments | 127 | |||
SECTION 7.07. Change in Nature of Business | 129 | |||
SECTION 7.08. Transactions with Affiliates | 129 | |||
SECTION 7.09. Burdensome Agreements | 130 | |||
SECTION 7.10. Use of Proceeds | 130 | |||
SECTION 7.11. Financial Covenants | 131 | |||
SECTION 7.12. Accounting Changes | 131 | |||
SECTION 7.13. Prepayments, Etc. of Indebtedness | 132 | |||
SECTION 7.14. Equity Interests of the Company and Restricted Subsidiaries | 132 | |||
SECTION 7.15. Holding Company | 132 | |||
SECTION 7.16. Capital Expenditures | 133 |
iii
Page | ||||
ARTICLE VIII | ||||
Events Of Default and Remedies | ||||
SECTION 8.01. Events of Default | 133 | |||
SECTION 8.02. Remedies Upon Event of Default | 136 | |||
SECTION 8.03. Exclusion of Immaterial Subsidiaries | 136 | |||
SECTION 8.04. Application of Funds | 137 | |||
SECTION 8.05. Company’s Right to Cure | 138 | |||
SECTION 8.06. CAM Exchange | 138 | |||
ARTICLE IX | ||||
Administrative Agent and Other Agents | ||||
SECTION 9.01. Appointment and Authorization of Agents | 139 | |||
SECTION 9.02. Delegation of Duties | 140 | |||
SECTION 9.03. Liability of Agents | 141 | |||
SECTION 9.04. Reliance by Agents | 141 | |||
SECTION 9.05. Notice of Default | 141 | |||
SECTION 9.06. Credit Decision; Disclosure of Information by Agents | 142 | |||
SECTION 9.07. Indemnification of Agents | 142 | |||
SECTION 9.08. Agents in their Individual Capacities | 143 | |||
SECTION 9.09. Successor Agents | 143 | |||
SECTION 9.10. Administrative Agent May File Proofs of Claim | 144 | |||
SECTION 9.11. Collateral and Guaranty Matters | 145 | |||
SECTION 9.12. Other Agents; Arrangers and Managers | 145 | |||
SECTION 9.13. Appointment of Supplemental Administrative Agents | 146 | |||
ARTICLE X | ||||
Miscellaneous | ||||
SECTION 10.01. Amendments, Etc | 147 | |||
SECTION 10.02. Notices and Other Communications; Facsimile Copies | 149 | |||
SECTION 10.03. No Waiver; Cumulative Remedies | 150 | |||
SECTION 10.04. Attorney Costs, Expenses and Taxes | 151 | |||
SECTION 10.05. Indemnification by the Company | 151 | |||
SECTION 10.06. Payments Set Aside | 152 | |||
SECTION 10.07. Successors and Assigns | 152 | |||
SECTION 10.08. Confidentiality | 156 | |||
SECTION 10.09. Setoff | 157 | |||
SECTION 10.10. Interest Rate Limitation | 158 | |||
SECTION 10.11. Counterparts | 158 | |||
SECTION 10.12. Integration | 158 | |||
SECTION 10.13. Survival of Representations and Warranties | 158 | |||
SECTION 10.14. Severability | 159 | |||
SECTION 10.15. Tax Forms | 159 | |||
SECTION 10.16. Governing Law | 161 | |||
SECTION 10.17. Waiver of Right to Trial by Jury | 161 | |||
SECTION 10.18. Binding Effect | 161 | |||
SECTION 10.19. Judgment Currency | 162 | |||
SECTION 10.20. Lender Action | 162 | |||
SECTION 10.21. USA PATRIOT Act | 162 | |||
SECTION 10.22. Agent for Service of Process | 162 |
iv
I | Guarantors | |||||
1.01A | Material Leased Property | |||||
1.01B | Certain Security Interests and Guarantees | |||||
1.01C | Unrestricted Subsidiaries | |||||
1.01D | Mandatory Cost Formulae | |||||
1.01E | Existing Letters of Credit | |||||
1.01F | Mortgaged Properties | |||||
1.01G | Excluded Subsidiary | |||||
1.01H | Foreign Subsidiary | |||||
2.01 | Commitments | |||||
5.05 | Certain Liabilities | |||||
5.09 | Environmental Matters | |||||
5.10 | Taxes | |||||
5.11 | ERISA Compliance | |||||
5.12 | Subsidiaries and Other Equity Investments | |||||
7.01(b) | Existing Liens | |||||
7.02(f) | Existing Investments | |||||
7.03(b) | Existing Indebtedness | |||||
7.05(l) | Dispositions | |||||
7.08 | Transactions with Affiliates | |||||
7.09 | Existing Restrictions | |||||
10.02 | Administrative Agent’s Office, Certain Addresses for Notices |
Form of | ||||
A | Committed Loan Notice | |||
B | Swing Line Loan Notice | |||
C-1 | U.S. Term Note | |||
C-2 | U.K. Term Note | |||
C-3 | Euro Term Note | |||
C-4 | Revolving Credit Note | |||
D | Compliance Certificate | |||
E | Assignment and Assumption | |||
F-1 | Holdings Guaranty | |||
F-2 | U.S. Subsidiary Guaranty | |||
F-3 | Overseas Subsidiary Guaranty | |||
F-4 | Company Guaranty | |||
G | Security Agreement | |||
H | Mortgage | |||
I | Collateral Assignment | |||
J | Election to Participate | |||
K | Election to Terminate | |||
L | Opinion Matters — Counsel to Loan Parties | |||
M | Intellectual Property Security Agreement | |||
N | First Lien Intercreditor Agreement | |||
O | Second Lien Intercreditor Agreement |
v
2
3
Applicable Rate | ||||||||||
Pricing | Total Leverage | Eurocurrency | ||||||||
Level | Ratio | Rate | Base Rate | |||||||
1 | <5.25:1 | 1.75 | % | 0.75 | % | |||||
2 | ≥5.25:1 | 2.00 | % | 1.00 | % |
4
Applicable Rate | ||||||||||||||
Eurocurrency | ||||||||||||||
Rate and | Commitment | |||||||||||||
Pricing | Letter of | Fee | ||||||||||||
Level | Total Leverage Ratio | Credit Fees | Base Rate | Rate | ||||||||||
1 | <4.5:1 | 2.75 | % | 1.75 | % | 0.500 | % | |||||||
2 | ≥4.5:1 but <5.0:1 | 3.00 | % | 2.00 | % | 0.625 | % | |||||||
3 | ≥5.0:1 but <5.5:1 | 3.25 | % | 2.25 | % | 0.750 | % | |||||||
4 | ≥5.5:1 but <6.0:1 | 3.50 | % | 2.50 | % | 0.875 | % | |||||||
5 | ≥6.0:1 | 3.75 | % | 2.75 | % | 1.00 | % |
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
Fiscal Year | March 31 | June 30 | September 30 | December 31 | ||||||||||||
2006 | 8.25:1 | 8.25:1 | 8.25:1 | 7.75:1 | ||||||||||||
2007 | 7.75:1 | 7.75:1 | 7.75:1 | 7.25:1 | ||||||||||||
2008 | 7.25:1 | 7.25:1 | 7.25:1 | 6.75:1 | ||||||||||||
2009 | 6.75:1 | 6.75:1 | 6.75:1 | 6.25:1 | ||||||||||||
2010 | 6.25:1 | 6.25:1 | 6.25:1 | 6.25:1 | ||||||||||||
2011 | 6.25:1 | 6.25:1 | 6.25:1 | 5.75:1 | ||||||||||||
2012 | 5.75:1 | 5.75:1 | 5.75:1 | 5.25:1 | ||||||||||||
2013 | 5.25:1 | 5.25:1 | 5.25:1 | 4.75:1 | ||||||||||||
2014 | 4.75:1 | 4.75:1 | 4.75:1 | 4.75:1 | ||||||||||||
2015 | 4.75:1 | 4.75:1 | 4.75:1 | 4.75:1 | ||||||||||||
2016 | 4.75:1 | 4.75:1 | — | — |
Fiscal Year | March 31 | June 30 | September 30 | December 31 | ||||||||||||
2005 | — | — | — | 1.40:1 | ||||||||||||
2006 | 1.40:1 | 1.40:1 | 1.40:1 | 1.50:1 | ||||||||||||
2007 | 1.50:1 | 1.50:1 | 1.50:1 | 1.60:1 | ||||||||||||
2008 | 1.60:1 | 1.60:1 | 1.60:1 | 1.65:1 | ||||||||||||
2009 | 1.65:1 | 1.65:1 | 1.65:1 | 1.70:1 | ||||||||||||
2010 | 1.70:1 | 1.70:1 | 1.70:1 | 1.80:1 | ||||||||||||
2011 | 1.80:1 | 1.80:1 | 1.80:1 | 1.95:1 | ||||||||||||
2012 | 1.95:1 | 1.95:1 | 1.95:1 | 2.10:1 | ||||||||||||
2013 | 2.10:1 | 2.10:1 | 2.10:1 | 2.20:1 | ||||||||||||
2014 | 2.20:1 | 2.20:1 | 2.20:1 | 2.20:1 | ||||||||||||
2015 | 2.20:1 | 2.20:1 | 2.20:1 | 2.20:1 | ||||||||||||
2016 | 2.20:1 | 2.20:1 | — | — |
131
132
Fiscal Year | Amount | |||
2005 | $ | 380,000,000.00 | ||
2006 | $ | 375,000,000.00 | ||
2007 | $ | 375,000,000.00 | ||
2008 | $ | 375,000,000.00 | ||
2009 | $ | 400,000,000.00 | ||
2010 | $ | 400,000.000.00 | ||
2011 | $ | 425,000,000.00 | ||
2012 | $ | 450,000,000.00 | ||
2013 | $ | 450,000,000.00 | ||
2014 | $ | 475,000,000.00 | ||
2015 | $ | 475,000,000.00 |
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162