Exhibit 10.3
SEVENTH AMENDMENT TO CREDIT AGREEMENT
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SEVENTH AMENDMENT TO CREDIT AGREEMENT (this "Amendment"), dated as of July
8, 1998, among DADE BEHRING HOLDINGS, INC. ("Holdings"), DADE BEHRING INC. (the
"Borrower"), the financial institutions party to the Credit Agreement referred
to below (the "Banks") and BANKERS TRUST COMPANY, as Agent (the "Agent") for the
Banks. All capitalized terms used herein and not otherwise defined shall have
the respective meanings provided such terms in the Credit Agreement.
W I T N E S S E T H:
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WHEREAS, Holdings, the Borrower, the Banks and the Agent are parties to a
Credit Agreement, dated as of May 7, 1996 and amended and restated as of April
29, 1997 (as amended, modified, restated or supplemented to the date hereof, the
"Credit Agreement"); and
WHEREAS, the parties hereto wish to amend the Credit Agreement as herein
provided;
NOW, THEREFORE, it is agreed:
I. Amendments to Credit Agreement.
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1. Section 4.02(A)(c) of the Credit Agreement is hereby amended by
deleting the amount "$8,000,000" appearing in the first proviso to said Section
and inserting the amount "$25,000,000" in lieu thereof.
2. Section 8.02(p) of the Credit Agreement is hereby amended by
deleting the amount "$8,000,000" appearing in said Section and inserting the
amount $25,000,000" in lieu thereof.
II. Miscellaneous Provisions.
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1. In order to induce the Banks to enter into this Amendment, the
Borrower hereby represents and warrants that:
(a) no Default or Event of Default exists as of the Seventh Amendment
Effective Date, both before and after giving effect to this Amendment; and
(b) all of the representations and warranties contained in the Credit
Agreement or the other Credit Documents are true and correct in all
material respects on and as of the Seventh Amendment Effective Date, both
before and after giving effect to this Amendment, with the same effect as
though such representations and warranties had been made on and as of the
Seventh
Amendment Effective Date (it being understood that any representation or
warranty made as of a specific date shall be true and correct in all
material respects as of such specific date).
2. This Amendment is limited as specified and shall not constitute a
modification, acceptance or waiver of any other provision of the Credit
Agreement or any other Credit Document.
3. This Amendment may be executed in any number of counterparts and
by the different parties hereto on separate counterparts, each of which
counterparts when executed and delivered shall be an original, but all of which
shall together constitute one and the same instrument. A complete set of
counterparts shall be lodged with the Borrower and the Agent.
4. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE
STATE OF NEW YORK.
5. This Amendment shall become effective as of July 8, 1998 on the
date (the "Seventh Amendment Effective Date") when each of Holdings, the
Borrower and the Required Banks shall have signed a counterpart hereof (whether
the same or different counterparts) and shall have delivered (including by way
of facsimile transmission) the same to the Agent at its Notice Office.
6. From and after the Seventh Amendment Effective Date, all
references in the Credit Agreement and each of the other Credit Documents to the
Credit Agreement shall be deemed to be references to the Credit Agreement as
amended hereby.
* * *
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IN WITNESS WHEREOF, the parties hereto have caused their duly
authorized officers to execute and deliver this Amendment as of the date first
above written.
DADE BEHRING HOLDINGS, INC.
By/s/
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Name: Nancy A. Krejsa
Title: Vice President & Treasurer
DADE BEHRING INC.
By/s/
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Name: Nancy A. Krejsa
Title: Vice President & Treasurer
BANKERS TRUST COMPANY,
Individually, as Agent
and as Collateral Agent
By/s/
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Name: Mary Kay Coyle
Title: Managing Director
THE BANK OF NOVA SCOTIA
By/s/
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Name: F.C.H. Ashby
Title: Senior Manager Loan Operations
BANK OF TOKYO-MITSUBISHI
TRUST COMPANY
By/s/
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Name: Peter Stearn
Title: Vice President
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BANKBOSTON, N.A.
By/s/
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Name: Marie C. Duprey
Title Vice President
GENERAL ELECTRIC CAPITAL
CORPORATION
By/s/
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Name: Holly Kaczmarczyk
Title: Duly Authorized Signatory
SANWA BUSINESS CREDIT CORPORATION
By/s/
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Name: Michael J. Cox
Title: First Vice President
ABN AMRO BANK N.V., Chicago Branch
By/s/
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Name: John E. Robertson
Title: Vice President
By/s/
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Name: Mary L. Honda
Title: Vice President
AG CAPITAL FUNDING PARTNERS, L.P.
By: Angelo, Gordon & Co., L.P., as
Investment Advisor
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By/s/
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Name: Jeffrey H. Aronson
Title: Managing Director
CITIBANK, N.A.
By/s/
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Name: Steven Kaufman
Title: Vice President
CITY NATIONAL BANK
By/s/
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Name: Scott Kelley
Title: Vice President
CREDIT AGRICOLE INDOSUEZ
By/s/
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Name: David Bouhl, F.V.P.
Title: Head of Corporate Banking Chicago
By/s/
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Name: Katherine L. Abbott
Title: First Vice President
OCTAGON CREDIT INVESTORS LOAN
PORTFOLIO, a Unit of The Chase
Manhattan Bank
By/s/
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Name: James P. Ferguson
Title: Managing Director
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CRESCENT/MACH I PARTNERS, L.P.
By TCW Asset Management Company,
its Investment Manager
By/s/
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Name: Justin L. Driscoll
Title: Senior Vice President
STRATA FUNDING LTD.
By/s/
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Name: John H. Cullinane
Title: Director
CERES FINANCE LTD.
By/s/
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Name: John H. Cullinane
Title: Director
AERIES FINANCE LTD.
By/s/
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Name: Andrew Ian Wignall
Title: Director
CAPTIVA FINANCE LTD.
By/s/
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Name: John H. Cullinane
Title: Director
CAPTIVA II FINANCE LTD.
By/s/
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Name: John H. Culinane
Title: Director
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CITY NATIONAL BANK
By/s/
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Name: Scott Kelley
Title: Vice President
CREDIT AGRICOLE INDOSUEZ
By/s/
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Name: Katherine L. Abbott
Title: First Vice President
By/s/
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Name: David Bouhl, F.V.P.
Title: Head of Corporate Banking Chicago
CRESCENT/MACH I PARTNERS, L.P.
By TCW Asset Management Company,
its Investment Manager
By/s/
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Name:
Title:
DAI-ICHI KANGYO BANK LTD.
By/s/
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Name: Sunao Hirata
Title: Vice President
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FIRST NATIONAL BANK OF CHICAGO
By/s/
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Name: Christopher Cavaiani
Title: Vice President
THE FUJI BANK, LIMITED
By/s/
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Name: Tetsuo Kamatsu (K-219)
Title: Joint General Manager
GT GLOBAL FLOATING RATE FUND
By/s/
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Name:
Title:
IMPERIAL BANK
By/s/
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Name: R. Vadalma
Title: Senior Vice President
KEYPORT LIFE INSURANCE COMPANY
By: Stein, Roe & Farnham, as Investment
Advisor
By/s/
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Name: Brian G. Good
Title: Vice President & Portfolio Manager
MERRILL LYNCH DEBT STRATEGIES
PORTFOLIO
By/s/
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Name:
Title:
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MERRILL LYNCH PRIME RATE PORTFOLIO
By: Merrill Lynch Asset Management L.P.,
as Investment Advisor
By/s/
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Name:
Title:
MERRILL LYNCH SENIOR FLOATING RATE
FUND, INC.
By/s/
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Name:
Title:
ML CBO IV (CAYMAN) LTD.
By: Protective Asset Management Company,
as Collateral Manager
By/s/
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Name:
Title:
OCTAGON LOAN TRUST
By: Octagon Credit Investors, its Manager
By/s/
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Name: James P. Ferguson
Title: Managing Director
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PILGRIM AMERICA PRIME RATE TRUST
By: PILGRIM AMERICA INVESTMENTS, INC.,
as its Investment Manager
By/s/
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Name: Jeffrey A. Bakalar
Title: Vice President
MORGAN STANLEY DEAN WITTER
PRIME INCOME TRUST
By/s/
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Name: Peter Gewirtz
Title: Authorized Signatory
SAKURA BANK LTD.
By/s/
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Name: Brian G. Good
Title: Vice President & Portfolio Manager
ROYALTON COMPANY,
By: Pacific Investment Management Company,
as its Investment Advisor
By: PIMCO Management inc., as general
partner
By/s/
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Name:
Title:
SOCIETE GENERALES
By/s/
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Name: John M. Stack
Title: Director
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SOUTHERN PACIFIC BANK
By/s/
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Name:
Title:
AERIES FINANCE LTD.
By/s/
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Name: Andrew Ian Wignall
Title: Director
CAPTIVA FINANCE LTD.
By/s/
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Name: David Egglishaw
Title: Director
CAPTIVA II FINANCE LTD.
By/s/
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Name: David Egglishaw
Title: Director
CERES FINANCE LTD.
By/s/
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Name: David Egglishaw
Title: Director
STRATA FUNDING LTD.
By/s/
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Name: David Egglishaw
Title: Director
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VAN KAMPEN AMERICAN CAPITAL PRIME
RATE INCOME TRUST
By/s/
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Name: Jeffrey W. Maillet
Title: Senior Vice President & Director
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