Exhibit 10.146a
Tiffany & Co.
Report of Form 10-K
EXECUTION COPY
TIFFANY & CO.
INCREASE SUPPLEMENT
INCREASE SUPPLEMENT, dated as of October 27, 2006, to the Credit Agreement,
dated as of July 20, 2005, among Tiffany & Co., Tiffany and Company, Tiffany &
Co. International, the other Borrowers party thereto, the Lenders party thereto,
and The Bank of New York, as Administrative Agent (as amended and in effect on
the date hereof, the "Credit Agreement"). Capitalized terms used herein which
are not otherwise defined herein shall have the meanings assigned to such terms
in the Credit Agreement.
1. Pursuant to Section 2.7(c) of the Credit Agreement, the Parent hereby
requests each Lender to increase its Core Currency Commitment as more
specifically set forth below such that, immediately after giving effect to this
Increase Supplement, the Aggregate Core Currency Commitments shall be
$369,500,000 and the Aggregate Individual Currency Commitments shall remain at
$80,500,000.
2. Upon the effectiveness of this Increase Supplement, each of the Lenders
shall be deemed to have increased its Core Currency Commitment as follows:
CORE CURRENCY CORE CURRENCY
COMMITMENT COMMITMENT
(BEFORE GIVING (AFTER GIVING AMOUNT OF
EFFECT TO THIS EFFECT TO THIS INCREASE OF
INCREASE INCREASE CORE CURRENCY
LENDER SUPPLEMENT) SUPPLEMENT) COMMITMENT
- ------ -------------- -------------- -------------
The Bank of New York $ 52,000,000 $ 71,000,000 $ 19,000,000
ABN AMRO Bank N.V. $ 12,000,000 $ 36,000,000 $ 24,000,000
Bank of America, N.A. $ 33,000,000 $ 33,000,000 $ 0
HSBC Bank USA, National Association $ 9,500,000 $ 34,500,000 $ 25,000,000
JPMorgan Chase Bank, N.A. $ 37,000,000 $ 56,000,000 $ 19,000,000
Mizuho Corporate Bank, Ltd. $ 39,000,000 $ 53,000,000 $ 14,000,000
U.S. Bank, National Association $ 14,500,000 $ 38,500,000 $ 24,000,000
Wachovia Bank, National Association $ 22,500,000 $ 47,500,000 $ 25,000,000
------------ ------------ ------------
TOTAL $219,500,000 $369,500,000 $150,000,000
============ ============ ============
3. Upon the effectiveness of this Increase Supplement, Exhibits A-1 and A-2
attached hereto shall replace Exhibits A-1 and A-2 to the Credit Agreement.
TIFFANY & CO.
INCREASE SUPPLEMENT
4. This Increase Supplement shall become effective upon receipt by the
Administrative Agent of:
a) a copy of this Increase Supplement executed by the Parent,
Tiffany, Tiffany International, the Administrative Agent, and
each Lender;
b) a certificate, dated the effective date of this Increase
Supplement, of the Secretary or Assistant Secretary of each of
the Parent, Tiffany and Tiffany International (i) attaching a
true and complete copy of the resolutions of its Board of
Directors and of all documents evidencing all necessary corporate
action (in form and substance reasonably satisfactory to the
Administrative Agent) taken by it to authorize the transactions
contemplated by this Increase Supplement, and stating that such
resolutions have not been amended, modified or revoked and are in
full force and effect, (ii) attaching a true and complete copy of
its organizational documents (or stating that no amendment or
modification has been made to its organizational documents since
July 20, 2005), and (iii) setting forth the incumbency of its
officer(s) who may sign this Increase Supplement, including
therein a signature specimen of such officer(s);
c) an opinion of Karen L. Sharp, corporate counsel to the Parent,
Tiffany and Tiffany International, dated the effective date of
this Increase Supplement, in form and substance reasonably
satisfactory to the Administrative Agent; and
d) a fee for the account of each Lender in an amount equal to three
basis points (0.03%) of the amount of the increase in such
Lender's Core Currency Commitment as shown in Paragraph 2 above.
5. Upon the effectiveness of this Increase Supplement, each Lender shall be
deemed to have entered into a master assignment and acceptance agreement with
respect to its Core Currency Commitment and outstanding Revolving Loans,
whereupon each Lender shall make the necessary payment to the Administrative
Lender to reflect the assignment to it of Revolving Loans, in each case as
contemplated by Section2.7(c)(C) of the Credit Agreement.
6. Each Borrower shall compensate each Lender in accordance with Section
3.5 of the Credit Agreement for all reasonable losses, expenses and liabilities
incurred by such Lender as a result of the increases contemplated herein.
7. The Parent hereby represents and warrants to the Administrative Agent
and each Lender that, at the time of and immediately after giving effect to this
Increase Supplement, no Default or Event of Default shall have occurred and be
continuing.
[signature pages follow]
2
TIFFANY & CO.
INCREASE SUPPLEMENT
IN WITNESS WHEREOF, this Increase Supplement has been executed and
delivered as of the day and year first above written.
TIFFANY & CO.
By: /s/ James N. Fernandez
------------------------------------
Name: James N. Fernandez
Title: Executive Vice President
Chief Financial Officer
TIFFANY AND COMPANY
By: /s/ Patrick B. Dorsey
------------------------------------
Name: Patrick B. Dorsey
Title: Senior Vice President
Secretary and General Counsel
TIFFANY & CO. INTERNATIONAL
By: /s/ Patrick B. Dorsey
------------------------------------
Name: Patrick B. Dorsey
Title: Vice President
TIFFANY & CO.
INCREASE SUPPLEMENT
THE BANK OF NEW YORK,
as Administrative Agent
By: /s/ Erin Morrissey
---------------------------------
Name: Erin Morrissey
Title: Assistant Vice President
TIFFANY & CO.
INCREASE SUPPLEMENT
THE BANK OF NEW YORK
By: /s/ Erin Morrissey
---------------------------------
Name: Erin Morrissey
Title: Assistant Vice President
TIFFANY & CO.
INCREASE SUPPLEMENT
ABN AMRO BANK N.V.
By: /s/ Ronald C. Spurga
---------------------------------
Name: Ronald C. Spurga
Title: Vice President
By: /s/ Frederick G. Jennings
---------------------------------
Name: Frederick G. Jennings
Title: Vice President
TIFFANY & CO.
INCREASE SUPPLEMENT
BANK OF AMERICA, N.A.
By: /s/ John Pocalyko
---------------------------------
Name: John Pocalyko
Title: Senior Vice President
TIFFANY & CO.
INCREASE SUPPLEMENT
HSBC BANK USA, NATIONAL ASSOCIATION
By: /s/ Kyu Hwang
---------------------------------
Name: Kyu Hwang
Title: Senior Vice President
TIFFANY & CO.
INCREASE SUPPLEMENT
JPMORGAN CHASE BANK, N.A.
By: /s/ Helene P. Sprung
---------------------------------
Name: Helene P. Sprung
Title: Senior Vice President
TIFFANY & CO.
INCREASE SUPPLEMENT
MIZUHO CORPORATE BANK, LTD.
By: /s/ Bertram H. Tang
---------------------------------
Name: Bertram H. Tang
Title: Senior Vice President &
Team Leader
TIFFANY & CO.
INCREASE SUPPLEMENT
U.S. BANK, NATIONAL ASSOCIATION
By: /s/ Gregory L. Dryden
---------------------------------
Name: Gregory L. Dryden
Title: Senior Vice President
TIFFANY & CO.
INCREASE SUPPLEMENT
WACHOVIA BANK, NATIONAL ASSOCIATION
By: /s/ John J. Langan
---------------------------------
Name: John J. Langan
Title: Vice President
TIFFANY EXHIBIT A-1
LIST OF CORE CURRENCY COMMITMENTS
CORE
CORE CURRENCY AGGREGATE
CURRENCY COMMITMENT COMMITMENT
LENDER COMMITMENT PERCENTAGE PERCENTAGE(1)
- ------ ------------ ------------- -------------
The Bank of New York $ 71,000,000 19.215155616% 17.555555557%
ABN AMRO Bank N.V. $ 36,000,000 9.742895805% 11.111111111%
Bank of America, N.A. $ 33,000,000 8.930987821% 10.222222222%
HSBC Bank USA, National Association $ 34,500,000 9.336941813% 11.111111111%
JPMorgan Chase Bank, N.A. $ 56,000,000 15.155615697% 14.444444444%
Mizuho Corporate Bank, Ltd. $ 53,000,000 14.343707713% 13.333333333%
U.S. Bank, National Association $ 38,500,000 10.419485792% 11.111111111%
Wachovia Bank, National Association $ 47,500,000 12.855209743% 11.111111111%
------------ ------------- -------------
TOTAL $369,500,000 100.000000000% 100.000000000%
============ ============= =============
- ----------
(1) Includes for each Lender its Core Currency Commitment and the Individual
Currency Commitments of such Lender and its branch offices and affiliates.
TIFFANY & CO.
INCREASE SUPPLEMENT
TIFFANY EXHIBIT A-2
LIST OF INDIVIDUAL CURRENCY COMMITMENTS
AUSTRALIAN DOLLARS
Lender Individual Currency Commitment
$0
CANADIAN DOLLARS
Lender Individual Currency Commitment
ABN AMRO Bank N.V, Canada Branch $9,000,000
Bank of America, N.A., Canada Branch $9,000,000
HSBC Bank USA, National Association,
Canada Branch $9,000,000
U.S. Bank, National Association,
Canada Branch $9,000,000
EUROS (FRANCE)
Lender Individual Currency Commitment
ABN AMRO Bank N.V. $5,000,000
JPMorgan Chase Bank, N.A. $5,000,000
EUROS (ITALY)
Lender Individual Currency Commitment
JPMorgan Chase Bank, N.A. $4,000,000
HONG KONG DOLLARS
Lender Individual Currency Commitment
TIFFANY & CO.
INCREASE SUPPLEMENT
Mizuho Corporate Bank, Ltd $7,000,000
KOREAN WON
Lender Individual Currency Commitment
The Bank of New York $5,000,000
MACAU PATACAS
Lender Individual Currency Commitment
The Hongkong and Shanghai Banking
Corporation Limited, Macau Branch $6,500,000
MEXICAN PESOS
Lender Individual Currency Commitment
Bank of America, N.A.
(for Loans to Tiffany and Tiffany
International only) $4,000,000
Bank of America, N.A.,
acting through
Bank of America Mexico, S.A.,
Institucion de Banca Multiple,
Grupo Financiero Bank of America
(for Loans to Tiffany & Co.
Mexico, S.A. de C.V. only)
NEW TAIWAN DOLLARS
Lender Individual Currency Commitment
The Bank of New York $2,000,000
SINGAPORE DOLLARS
Lender Individual Currency Commitment
The Bank of New York $1,000,000
TIFFANY & CO.
INCREASE SUPPLEMENT
SOUTH AFRICAN RAND
Lender Individual Currency Commitment
Wachovia Bank, National Association $0
SWISS FRANCS
Lender Individual Currency Commitment
U.S. Bank, National Association $2,500,000
Wachovia Bank, National Association $2,500,000