EXHIBIT 10.41
SECOND AMENDMENT
TO
CREDIT AGREEMENT
(REVOLVING LOAN)
THIS SECOND AMENDMENT TO CREDIT AGREEMENT (Revolving Loan) ("AMENDMENT
AGREEMENT") is made May 23, 2000, to be effective as of the Effective Date, by
and among Cenex Harvest States Cooperatives, a Minnesota cooperative corporation
("BORROWER"), CoBank, ACB ("COBANK") as former Co-Lead Arranger, as the Bid
Agent, and as the Administrative Agent for the benefit of the present and future
Syndication Parties (in that capacity "ADMINISTRATIVE AGENT"), Bank of America,
N.A., as successor by merger to NationsBank, N. A. ("BANK OF AMERICA"), as
Co-Lead Arranger, SunTrust Bank ("SUNTRUST") as Co-Lead Arranger, and the
Syndication Parties signatory hereto, including CoBank, Bank of America, and
SunTrust, in such capacity, (each a "SYNDICATION PARTY" and collectively, the
"SYNDICATION PARTIES").
RECITALS
A. Borrower, CoBank, St. Paul Bank for Cooperatives, and certain of the
present Syndication Parties entered into a Credit Agreement (Revolving Loan) (as
amended "CREDIT AGREEMENT") dated as of June 1, 1998. The Credit Agreement
provided for a 364-Day Facility and a 5-Year Facility.
B. The Credit Agreement was amended by the First Amendment to Credit
Agreement (Revolving Loan) effective as of May 28, 1999 ("FIRST AMENDMENT").
C. CoBank, as Administrative Agent, gave written notification ("RENEWAL
NOTICE") to those Syndication Parties which had an Individual 364-Day Commitment
seeking (i) a renewal of their respective Individual 364-Day Commitments and
(ii) consent to an extension of the 364-Day Maturity Date pursuant to the
provisions of Section 16.9 of the Credit Agreement.
D. All of the Syndication Parties have provided the Administrative
Agent with written notice of their agreement to make Individual 364-Day
Commitments.
E. Certain institutions, which were not Syndication Parties prior to
the date hereof, have agreed to become Syndication Parties as indicated on
Schedule 1 hereto and by their execution of this Amendment Agreement, and by
their execution of a Syndication Adoption Agreement and or a Syndication
Acquisition Agreement.
F. The parties hereto desire to amend the Credit Agreement to renew the
364-Day Facility and to make certain other changes to the Credit Agreement as
hereinafter set forth.
NOW, THEREFORE, for good and valuable consideration, the receipt of
which is hereby acknowledged, including the mutual promises and agreements
contained herein, the parties hereto hereby agree as follows:
1. DEFINITIONS. Capitalized terms used herein without definition shall have the
definition given to them in the Credit Agreement if defined therein.
2. RENEWAL OF INDIVIDUAL 364-DAY COMMITMENTS. The Syndication Parties hereby
agree to renew or agree to acquire their respective Individual 364-Day
Commitments in the amounts set forth beneath their names and signatures on the
signature pages hereto and as set forth in Schedule 1 hereto.
3. AMENDMENTS TO CREDIT AGREEMENT. The parties hereto agree that the Credit
Agreement shall be amended as follows as of the Effective Date:
3.1 SunTrust Bank shall replace CoBank, ACB as a Co-Lead Arranger and
shall function as such along with Bank of America, N.A..
3.2 Subsection 1.11 shall be amended in its entirety to read as
follows:
1.11 AGGREGATE 364-DAY COMMITMENT: $500,000,000.00, subject to
reduction as provided in Section 2.8 hereof.
3.3 Subsection 1.156 shall be amended in its entirety to read as
follows:
1.156 364-DAY MATURITY DATE: May 23, 2001.
3.4 The amount of the Fin-Ag, Inc. loan exception set forth in Section
13.6(d) is increased from $60,000,000 to $75,000,000.
3.5 Schedule 1 is replaced in its entirety by the Schedule 1 attached
hereto.
4. BORROWER'S REPRESENTATIONS. Borrower hereby represents and warrants that,
after giving effect to this Amendment Agreement and the transactions
contemplated hereby, no Potential Default or Event of Default has occurred and
is continuing under the Credit Agreement or other Loan Documents.
5. EFFECTIVE DATE. This Amendment Agreement shall become effective on May 25,
2000 ("EFFECTIVE DATE"), so long as on or before that date the Administrative
Agent receives an original copy of (a) this Amendment Agreement (or original
counterparts thereof) duly executed by each party hereto, (b) a Syndication
Adoption Agreement (or original counterparts thereof) duly executed by each
party identified on Schedule A hereto, and (c) each required new or replacement
Promissory Note. Upon the satisfaction of all conditions precedent hereto, the
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Administrative Agent will notify each party hereto in writing and will provide
copies of all appropriate documentation in connection herewith.
6. COSTS; EXPENSES AND TAXES. Borrower agrees to reimburse the Administrative
Agent on demand for all out-of-pocket costs, expenses and charges (including,
without limitation, all fees and charges of external legal counsel for the
Administrative Agent) incurred by the Administrative Agent in connection with
the preparation, reproduction, execution and delivery of this Amendment
Agreement and any other instruments and documents to be delivered hereunder.
7. GENERAL PROVISIONS.
7.1 Borrower agrees to execute such additional documents as the
Administrative Agent may require, including, without limitation, new and/or
replacement Notes, to carry out or evidence the purposes of this Amendment
Agreement.
7.2 The execution, delivery and effectiveness of this Amendment
Agreement shall not operate as a waiver of any right, power or remedy of the
Administrative Agent or any Syndication Party under any of the Loan Documents,
nor constitute a waiver of any provision of any of the Loan Documents, and the
Credit Agreement, as expressly modified hereby, and each of the other Loan
Documents, are hereby ratified and confirmed and shall continue in full force
and effect and be binding upon the parties thereto. Any direct or indirect
reference in the Loan Documents to the "Credit Agreement" shall be deemed to be
a reference to the Credit Agreement as amended by this Amendment Agreement. Any
direct or indirect reference in the Loan Documents to a "Syndication Party" or
to the "Syndication Parties" shall be deemed to be a reference to the
Syndication Parties which executed this Amendment Agreement.
8. GOVERNING LAW. This Amendment Agreement shall be governed by and construed in
accordance with the laws of the State of Colorado.
9. COUNTERPARTS. This Amendment Agreement may be executed in any number of
counterparts and by different parties to this Amendment Agreement in separate
counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same agreement.
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IN WITNESS WHEREOF, the parties hereto have caused this Second
Amendment to Credit Agreement (Revolving Loan) to be executed by their duly
authorized officers as of the Effective Date.
BORROWER:
CENEX HARVEST STATES COOPERATIVES, a
cooperative corporation formed under the
laws of the State of Minnesota
By:
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Name: John Schmitz
Title: Chief Financial Officer
ADMINISTRATIVE AGENT, AND BID AGENT:
COBANK, ACB
By:
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Name: Greg Somerhalder
Title: Vice President
CO-LEAD ARRANGER:
BANK OF AMERICA, N.A.
By:
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Name:
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Title:
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CO-LEAD ARRANGER:
SUNTRUST BANK
By:
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Name:
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Title:
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SYNDICATION PARTIES:
COBANK, ACB
By:
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Name: Greg Somerhalder
Title: Vice President
Contact Name: Greg Somerhalder
Title: Vice President
Address: 5500 So. Quebec Street
Englewood, CO 80111
Phone No.: 303/694-5838
Fax No.: 303/694-5830
Individual 364-Day Commitment: $126,000,000.00
Payment Instructions:
CoBank, ACB
ABA No.: 307088754
Acct. Name: CoBank, ACB
Account No.: 22274433
Attn: Marshall Allen
Reference: Cenex Harvest States
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SYNDICATION PARTIES:
BANCA INTESA SPA, F/K/A CARIPLO-CASSA DI
RISPARMIO DELLE PROVINCIE LOMBARDE SPA
By:
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Name:
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Title:
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By:
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Name:
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Title:
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Contact Name: Silvano Gaspary
Title: Vice President & Representative
Address: 10 East 53rd Street, 36th Floor
New York, NY 10022
Phone No.: 212/527-8737
Fax No.: 212/527-8777
Individual 364-Day Commitment: $16,666,667.00
Payment Instructions:
Citibank - New York
ABA - 021000089
For account of Banc Intesa
Account No.: 36152989
Attn: M. Greene
Ref: Cenex Harvest States Cooperatives
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SYNDICATION PARTIES:
CREDIT AGRICOLE INDOSUEZ
By:
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Name:
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Title:
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By:
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Name:
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Title:
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Contact Name: Theodore D. Tice
Title: Vice President
Address: 55 E. Monroe Street
Chicago, IL 60603-5702
Phone No.: 312/917-7463
Fax No.: 312/372-3455
Individual 364-Day Commitment: $35,000,000.00
Payment Instructions:
Citibank - New York, New York
ABA - 021-000-089
Acct. Name: Credit Agricole Indoseuz
Chgo Branch
Account No.: 36023853
Swift Code: CITIUS33
Ref: Cenex Harvest States
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SYNDICATION PARTIES:
SUNTRUST BANK
By:
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Name:
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Title: Director
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By:
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Name:
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Title:
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Contact Name: Michel A. Odermatt
Title: Director
Address: 303 Peachtree Street N.E.
Third Floor
Atlanta, GA 30308
Phone No.: 404/532-0232
Fax No.: 404/230-5305
Individual 364-Day Commitment: $43,000,000.00
Payment Instructions:
SunTrust Bank
ABA - 061000104
Acct. Name: Corporate Banking
Operations General Ledger Account
Account No.: 9088000112
Ref: Cenex Harvest States Cooperatives
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SYNDICATION PARTIES:
BANQUE NATIONALE DE PARIS
By:
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Name: Arnaud Collin du Bocage
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Title: Executive Vice President and General
Manager
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Contact Name: Cathy Schaede
Title: Vice President
Address: 209 South LaSalle Street
Chicago, IL 60604
Phone No.: 312/977-1384
Fax No.: 312/977-1380
Individual 364-Day Commitment: $24,666,667.00
Payment Instructions:
Banque Nationale de Paris - New York
ABA - 0260-0768-9
Acct. Name: Banque Nationale de Paris
- Chicago
Account No.: 14119400189
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SYNDICATION PARTIES:
COOPERATIEVE CENTRALE
RAIFFEISEN-BOERENLEENBANK B.A., "RABOBANK
NEDERLAND", NEW YORK BRANCH
By:
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Name:
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Title:
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By:
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Name:
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Title:
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Contact Name: Tom Kelly
Title: Portfolio Manager
Address: 300 South Wacker Drive
Suite 3500
Chicago, IL 60606-6610
Phone No.: 312/408-8207
Fax No.: 312/408-8240
Individual 364-Day Commitment: $32,000,000.00
Payment Instructions:
The Bank of New York
(New York, NY 10167)
ABA - 021 000 018
Acct. Name: Rabobank Nederland
Account No.: 802 6002 533
Attn: Debra Rivers
Ref: Cenex Harvest States
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SYNDICATION PARTIES:
THE BANK OF TOKYO-MITSUBISHI, LTD.,
CHICAGO BRANCH
By:
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Name: Gus C. Browne, II
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Title: Senior Vice President & Manager
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Contact Name: Gus C. Browne, II
Title: Senior Vice President & Manager
Address: 90 South Seventh Street, Suite 5100
Minneapolis, MN 55402-4122
Phone No.: 612/333-0505
Fax No.: 612/333-3735
Loan Administration Contact Name:
Janice Hennig
Address: 227 West Monroe Street
Suite 2300
Chicago, Illinois 60606
Phone No.: 312/696-4710
Fax No.: 312/696-4532
Individual 364-Day Commitment: $20,000,000.00
Payment Instructions:
The Federal Reserve Bank of Chicago
ABA - 071002341
Acct. Name: The Bank of Tokyo-
Mitsubishi, Ltd.
Attention: Loan Administration
Ref: Cenex Harvest States Cooperatives
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SYNDICATION PARTIES:
BANK OF AMERICA, N.A.
By:
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Name: Tom F. Scharfenberg
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Title: Managing Director
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Contact Name: Laurie Haugh
Title: Associate Vice President
Address: 231 South La Salle Street
Chicago, IL 60697
Phone No.: 312/828-3070
Fax No.: 312/987-1276
Individual 364-Day Commitment: $43,000,000.00
Payment Instructions:
Bank of America, N.A.
ABA - 11100012
A/C #: 1292000883
Acct. Name: Corporate Loans
Attention: Lenor Manhard
Ref: Cenex Harvest States
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SYNDICATION PARTIES:
WELLS FARGO BANK, N.A., F/K/A NORWEST BANK
MINNESOTA, N.A.
By:
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Name:
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Title:
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Contact Name: Christopher Cudak
Title: Vice President
Address: Sixth and Marquette
MAC-N9305-031
Minneapolis, MN 55479-0085
Phone No.: 612/667-3504
Fax No.: 612/667-2276
Individual 364-Day Commitment: $20,000,000.00
Payment Instructions:
Norwest Bank Minnesota
ABA - 091000019
Acct. Name: Commercial Loan Clearing
Account
Account No.: 840165
Ref: Cenex Harvest States
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SYNDICATION PARTIES:
DG BANK DEUTSCHE GENOSSENSCHAFTSBANK, AG,
CAYMAN ISLAND BRANCH
By:
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Name:
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Title:
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By:
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Name:
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Title:
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Contact Name: Mark Connelly
Title: Vice President
Address: 609 Fifth Avenue
New York, NY 10017
Phone No.: 212/745-1560
Fax No.: 212/745-1556
Individual 364-Day Commitment: $24,666,667.00
Payment Instructions:
(1) CHIPS Payments:
Bank of New York
for Account of DG Bank, NY
Account No. 8900433876
Ref: Cenex Harvest States
(2) Federal Reserve Payments:
Bank of New York
ABA #021000018
Account Name: DG Bank, NY
Account No. 8900433876
Ref: Cenex Harvest States
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SYNDICATION PARTIES:
U.S. BANK NATIONAL ASSOCIATION
By:
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Name:
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Title:
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Contact Name: Kathi L. Hatch
Title: Commercial Banking Associate
Address: 950 17th Street, #350
Denver, CO 80202
Phone No.: 303/585-4926
Fax No.: 303/585-4732
Individual 364-Day Commitment: $20,000,000.00
Payment Instructions:
U.S. Bank National Association
ABA - 091000022
Acct. Name: Commercial Loans
Account No.: 30000472160600
Attn: Karen Johnson
Ref: Cenex Harvest States Cooperatives
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SYNDICATION PARTIES:
THE BANK OF NOVA SCOTIA
By:
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Name: Vicki Gibson
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Title:
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Contact Name: James Belletire
Title: Relationship Manager
Address: 181 W. Madison Street Ste. 3700
Chicago, IL 60602
Phone No.: 312/201-4185
Fax No.: 312/201-4108
Individual 364-Day Commitment: $32,000,000.00
Payment Instructions:
The Bank of Nova Scotia
ABA - 026002532
Acct. Name: Atlanta Agency
Account No.: 0606634
Attn: Chicago Team
Ref: Cenex Harvest States
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SYNDICATION PARTIES:
AGFIRST, FCB
By:
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Name: Bruce B. Fortner
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Title: Vice President
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Contact Name: Bruce B. Fortner
Title: Vice President
Address: 1401 Hampton Street, P.O. Box 1499
Columbia, SC 29201
Phone No.: 803/799-5000 x457
Fax No.: 803/254-4219
Individual 364-Day Commitment: $43,000,000.00
Payment Instructions:
AgFirst Farm Credit Bank
ABA - 053905974
Acct. Name: AgFirst FCB
Account No.: N/A
Attn: N/A
Ref: Cenex Harvest States Coop
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SYNDICATION PARTIES:
NATEXIS BANQUE
By:
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Name: Cliff A. Niebling
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Title: Vice President, Commodities Group
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Contact Name: Cliff A. Niebling
Title: Vice President, Commodities Group
Address: 645 Fifth Avenue
New York, NY 10022
Phone No.: 212/872-5133
Fax No.: 212/872-5045
Individual 364-Day Commitment: $20,000,000.00
Payment Instructions:
Chase Manhattan Bank, NY, NY
ABA - 021-000-021
Acct. Name: Natexis Banque, New York
Branch
Account No.: 544-7-75330
Attn:
Ref: Cenex Harvest States Cooperatives
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