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Exhibit 4.11
AMENDMENT NO. 1 TO FIVE-YEAR CREDIT AGREEMENT
AMENDMENT dated as of May 25, 2001 to the Five-Year Credit Agreement
dated as of February 7, 2001 (the "CREDIT AGREEMENT") among Tyco International
Group S.A. (the "BORROWER"), Tyco International Ltd. (the "GUARANTOR"), the
Banks party thereto (the "BANKS") and The Chase Manhattan Bank, as Agent (the
"AGENT").
W I T N E S S E T H :
WHEREAS, the parties hereto desire to amend the Credit Agreement to
modify certain of the covenants to exclude the effect of the acquisition of The
CIT Group, Inc., a Delaware corporation, and its Subsidiaries by a Subsidiary of
the Guarantor;
NOW, THEREFORE, the parties hereto agree as follows:
Section 1. DEFINED TERMS; REFERENCES. (a) Unless otherwise specifically
defined herein, each term used herein which is defined in the Credit Agreement
has the meaning assigned to such term in the Credit Agreement. Each reference to
"hereof", "hereunder", "herein" and "hereby" and each other similar reference
and each reference to "this Agreement" and each other similar reference
contained in the Credit Agreement shall, after this Amendment becomes effective,
refer to the Credit Agreement as amended hereby.
(b) The following definitions are added to Section 1.01 of the Credit
Agreement in the appropriate alphabetical order:
"CIT" means The CIT Group, Inc., a Delaware corporation, and its
successors.
"CONSOLIDATED RESTRICTED SUBSIDIARY" means, at any date, any Restricted
Subsidiary or other entity the accounts of which would be consolidated with
those of the Guarantor in its consolidated financial statements if such
statements were prepared as of such date.
"RESTRICTED SUBSIDIARY" means, at any date, a Subsidiary of the
Guarantor other than CIT and its Subsidiaries.
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"WHOLLY-OWNED CONSOLIDATED RESTRICTED SUBSIDIARY" means any
Consolidated Restricted Subsidiary all of the shares of capital stock or other
ownership interests of which (except directors' qualifying shares and
investments by foreign nationals mandated by applicable law) are at the time
beneficially owned, directly or indirectly, by the Guarantor.
(c) The definitions of "Consolidated Assets", "Consolidated Debt",
"Consolidated Interest Expense", "Consolidated Net Income", "Consolidated Net
Worth", "Consolidated Tangible Assets", "Intangible Assets" and "Material
Adverse Effect" are amended to replace (i) each reference to "Consolidated
Subsidiary" with "Consolidated Restricted Subsidiary" and (ii) each reference to
"Consolidated Subsidiaries" with "Consolidated Restricted Subsidiaries".
(d) The definitions of "Permitted Acquired Debt" and "Permitted
Receivables Transaction" are amended to replace (i) each reference to
"Subsidiary" with "Restricted Subsidiary" and (ii) each reference to
"Subsidiaries" with "Restricted Subsidiaries".
Section 2. AMENDMENTS TO REPRESENTATIONS AND WARRANTIES. (a) Sections
4.05, 4.07 and 4.09 of the Credit Agreement are amended to replace (i) each
reference to "Subsidiary" with "Restricted Subsidiary", (ii) each reference to
"Subsidiaries" with "Restricted Subsidiaries" and (iii) each reference to
"Consolidated Subsidiaries" with "Consolidated Restricted Subsidiaries".
(b) Section 4.06 of the Credit Agreement is amended to add "(other than
CIT and its Subsidiaries)" after each reference to "ERISA Group".
(c) Section 4.08 of the Credit Agreement is amended to (i) replace the
reference to "Significant Subsidiaries" in the first line with "each of its
Restricted Subsidiaries that is a Significant Subsidiary", (ii) add "such"
before "Significant Subsidiary" in the fourth line and (iii) replace the
reference to "Subsidiaries" in the sixth line with "Restricted Subsidiaries".
Section 3. AMENDMENTS TO COVENANTS. Article 5 of the Credit Agreement
is amended to replace (i) each reference to "Subsidiary" with "Restricted
Subsidiary", (ii) each reference to "Subsidiaries" with "Restricted
Subsidiaries" (except in Section 5.04(a)), (iii) each reference to "Consolidated
Subsidiary" with "Consolidated Restricted Subsidiary", (iv) each reference to
"Consolidated Subsidiaries" with "Consolidated Restricted Subsidiaries" (except
in Section 5.01) and (v) each reference to "Wholly-Owned Consolidated
Subsidiary" with "Wholly-Owned Consolidated Restricted Subsidiary".
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Section 4. REPRESENTATIONS OF PRINCIPAL OBLIGORS. Each Principal
Obligor represents and warrants that (i) the representations and warranties of
such Principal Obligor set forth in Article 4 of the Credit Agreement will be
true on and as of the Amendment Effective Date and (ii) no Default will have
occurred and be continuing on such date.
Section 5. GOVERNING LAW. This Amendment shall be governed by and
construed in accordance with the laws of the State of New York.
Section 6. COUNTERPARTS. This Amendment may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument.
Section 7. EFFECTIVENESS. This Amendment shall become effective on the
date (the "AMENDMENT EFFECTIVE DATE") when the Agent shall have received from
each Principal Obligor and the Required Banks a counterpart hereof signed by
such party or facsimile or other written confirmation (in form satisfactory to
the Agent) that such party has signed a counterpart hereof.
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed as of the date first above written.
TYCO INTERNATIONAL GROUP S.A
By: /s/ Michelangelo Stefani
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Title: Managing Director
TYCO INTERNATIONAL LTD.
By: /s/ Mark H. Swartz
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Title: Chief Financial Officer and
Executive Vice President
THE CHASE MANHATTAN BANK
By: /s/ Gail Weiss
-------------------------------------
Title: Vice President
BANK OF AMERICA, N.A.
By: /s/ John W. Pocalyko
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Title: Managing Director
CITIBANK, N.A.
By: /s/ Diane L. Pockaj
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Title: Vice President
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COMMERZBANK AG, NEW YORK AND
GRAND CAYMAN BRANCHES
By: /s/ Robert Donohue
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Title: Senior Vice President
By: /s/ Peter Doyle
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Title: Vice President
ABN AMRO BANK N.V.
By: /s/ Dean P. Giglio
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Title: Vice President
By: /s/ John Hennessy
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Title: Senior Vice President
BANCA NAZIONALE DEL LAVORO S.P.A.,
NEW YORK BRANCH
By:
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Title:
By:
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Title:
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THE BANK OF NOVA SCOTIA
By: /s/ William E. Zarrett
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Title: Managing Director
BARCLAYS BANK PLC
By: /s/ L. Peter Yetman
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Title: Director
BAYERISCHE HYPO- UND VEREINSBANK AG,
NEW YORK BRANCH
By: /s/ John T. Murphy
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Title: Director
By: /s/ Tricia Grieve
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Title: Director
BNP PARIBAS
By: /s/ Richard Pace
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Title: Vice President
By: /s/ Nanette Baudon
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Title: Vice President
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CREDIT LYONNAIS NEW YORK BRANCH
By: /s/ Rod Hurst
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Title: Vice President
CREDIT SUISSE FIRST BOSTON
By: /s/ David W. Kratovil
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Title: Director
By: /s/ Jeffrey Bernstein
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Title: Vice President
DEUTSCHE BANK AG, NEW YORK BRANCH
AND/OR CAYMAN ISLANDS BRANCH
By: /s/ Jean M. Hannigan
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Title: Director
By: /s/ Stephanie Strohe
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Title: Vice President
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DRESDNER BANK AG, NEW YORK AND
GRAND CAYMAN BRANCHES
By: /s/ Joanna M. Solowski
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Title: Vice President
By: /s/ Vincent Carotenuto
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Title: Assistant Vice President
FIRST UNION NATIONAL BANK
By: /s/ George L. Woolsey
-------------------------------------
Title: Vice President
HSBC BANK USA
By: /s/ Rochelle Forster
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Title: Senior Vice President
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MERRILL LYNCH BANK USA
By: /s/ D. Kevin Imlay
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Title: Senior Lending Officer
WESTDEUTSCHE LANDESBANK GIROZENTRALE,
NEW YORK BRANCH
By: /s/ Barry S. Wadler
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Title: Associate Director
By: /s/ Lisa Walker
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Title: Associate Director
BAYERISCHE LANDESBANK GIROZENTRALE
By: /s/ Hereward Drummond
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Title: Senior Vice President
By: /s/ James H. Boyle
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Title: Vice President
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FLEET NATIONAL BANK
By:
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Title:
MELLON BANK, N.A.
By: /s/ Daniel J. Lenckos
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Title: Vice President
SAN PAOLO IMI S.P.A.
By: /s/ Luca Sacchi
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Title: Vice President
By: /s/ Carlo Persico
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Title: Deputy General Manager
THE TORONTO-DOMINION BANK
By:
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Title:
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INTESABCI S.P.A. NEW YORK BRANCH
By: /s/ Frank Maffei
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Title: Vice President
By: /s/ Charles Dougherty
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Title: Vice President
THE BANK OF NEW YORK
By: /s/ Roger Grossman
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Title: Vice President
BANK OF TOKYO-MITSUBISHI TRUST COMPANY
By: /s/ Thomas Fennessey
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Title: Vice President
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BBL INTERNATIONAL (U.K.) LIMITED
By:
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Title:
By:
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Title:
KEYBANK NATIONAL ASSOCIATION
By: /s/ Frank J. Jancar
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Title: Vice President
LEHMAN COMMERCIAL PAPER INC.
By: /s/ Michael E. O'Brien
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Title: Authorized Signatory
NATIONAL AUSTRALIA BANK LIMITED,
A.C.N. 004044937
By: /s/ Justin F. McCarty III
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Title: Vice President
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NATIONAL WESTMINSTER BANK PLC
NEW YORK BRANCH
By: /s/ M. Jones
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Title: Senior Corporate Manager
NATIONAL WESTMINSTER BANK PLC
NASSAU BRANCH
By: /s/ M. Jones
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Title: Senior Corporate Manager
SOCIETE GENERALE
By: /s/ Ambrish D. Thanawala
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Title: Director, Corporate Banking
THE FUJI BANK, LIMITED
By:
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Title:
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THE DAI-ICHI KANGYO BANK, LTD.,
NEW YORK BRANCH
By:
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Title:
STANDARD CHARTERED BANK
By: /s/ John Biscette
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Title: Vice President
By: /s/ Andrew Y. Ng
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Title: Vice President
AUSTRALIA AND NEW ZEALAND BANKING
GROUP LIMITED
By:
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Title:
BANK OF IRELAND
By:
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Title:
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NORDDEUTSCHE LANDESBANK GIROZENTRALE
NEW YORK BRANCH AND/OR CAYMAN
ISLANDS BRANCH
By:
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Title:
By:
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Title:
THE NORTHERN TRUST COMPANY
By: /s/ John A. Konstantos
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Title: Vice President
PNC BANK, NATIONAL ASSOCIATION
By: /s/ Donald V. Davis
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Title: Vice President
UNICREDITO ITALIANO S.P.A.
By: /s/ Gianfranco Bisagni
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Title: First Vice President
By: /s/ Charles Michael
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Title: Vice President
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WESTPAC BANKING CORPORATION
By: /s/ Lisa Porter
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Title: Relationship Manager
BANCA POPOLARE DI MILANO, NEW YORK BRANCH
By:
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Title:
By:
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Title:
ARAB BANK PLC, GRAND CAYMAN BRANCH
By: /s/ Samer Tamimi
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Title: Vice President
BANCO BILBAO VIZCAYA ARGENTARIA S.A.
By: /s/ Alberto Conde
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Title: Vice President, Corporate
Banking
By: /s/ Santiago Hernandez Monsalve
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Title: Vice President Global
Corporate Banking
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THE BANK OF N.T. BUTTERFIELD & SON
LIMITED
By: /s/ J. W. Raynor
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Title: Manager, Corporate Banking
By: /s/ M. A. McWatt
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Title: Senior Vice President
ALLFIRST BANK
By: /s/ Kellie M. Matthews
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Title: Senior Vice President
KBC BANK N.V.
By:
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Title:
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