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Exhibit 4(f)
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Second Amendment and Consent
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SCOTTS
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SECOND AMENDMENT AND CONSENT
SECOND AMENDMENT AND CONSENT, dated as of November 12, 1997, to the
Fourth Amended and Restated Credit Agreement, dated as of March 17, 1995, as
amended (the "Credit Agreement"), among The Scotts Company, an Ohio corporation
(the "Borrower" or "Scotts"), Scotts Holdings Limited, a foreign subsidiary of
Scotts, the several banks and other financial institutions from time to time
parties to this Agreement (individually, a "Lender" and, collectively, the
"Lenders") and The Chase Manhattan Bank, a New York banking corporation
("Chase"), as agent for the Lenders thereunder (in such capacity, the "Agent").
W I T N E S S E T H:
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WHEREAS, the Borrower has requested that the Agent and the Lenders
enter into this Amendment to among other things, increase the Revolving Credit
Loans available in Sterling by $100 million to $200 million, and to allow Scotts
Holdings Limited, a subsidiary of the Borrower, to become a U.K. Borrower as set
forth herein; and
NOW, THEREFORE, in consideration of the promises and for other good and
valuable consideration the receipt and sufficiency of which is hereby
acknowledged, the parties hereto hereby agree as follows:
1. Defined Terms. Unless otherwise defined herein, all capitalized
terms defined in the Credit Agreement as amended hereby and used herein are so
used as so defined.
2. Amendments to Subsection 1.1. (a) Subsection 1.1 of the Credit
Agreement is hereby amended by inserting therein the following new definitions
in proper alphabetical order:
"Second Amendment" shall mean this Second Amendment and
Consent, as the same may be amended, modified or otherwise supplemented
from time to time.
"Second Amendment Effective Date" shall mean November 12,
1997.
(b) Subsection 1.1 of the Credit Agreement is further amended by
deleting the definition of "U.K. Borrowers" and substituting in lieu thereof the
following new definition:
"U.K. Borrowers" shall mean O.M. Scott International
Investments Limited, Miracle Garden Care Limited and, on and after the
date it becomes a party hereto, Scotts Holdings Limited.
3. Amendment to Subsection 2.1(a). Subsection 2.1(a) of the Credit
Agreement is hereby amended by deleting the reference
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to $100 million therein and inserting in lieu thereof $200 million.
4. Amendment to Subsection 2.2(b)(iii). Subsection 2.2(b)(iii) of the
Credit Agreement Amendment and Consent is hereby amended by deleting the words
"(pound sterling)3,000,000 or a whole multiple of (pound sterling)1,000,000 in
excess thereof" therein and inserting in lieu thereof "(pound sterling)1,000,000
or a whole multiple thereof".
5. Consent to Acquisition of Levington. Each of the Agent and the
Lenders hereby consents to the acquisition by the Borrower or Scotts Holdings
Limited of the outstanding shares of Levington Group Limited and agrees that
such acquisition shall not violate subsection 7.4 of the Credit Agreement and
shall not constitute usage of any of the permitted baskets therein.
6. Consent to Acquisition of Earthgro. Each of the Agent and the
Lenders further hereby consents to the acquisition by the Borrower or a
Subsidiary of the Borrower, of all or substantially all of the assets of
Earthgro, Inc. and agrees that such acquisition shall not violate subsection 7.4
or 7.6 of the Credit Agreement and shall not constitute usage of any of the
permitted baskets therein.
7. Effectiveness. The amendments and content provided for herein shall
become effective on November 12, 1997 (the "Second Amendment Effective Date"),
provided that the following conditions precedent have been satisfied on or
before such date:
(a) the Agent shall have received counterparts of this Second
Amendment, duly executed and delivered by all the parties listed on the
signature pages hereto;
(b) the Agent shall have received satisfactory opinions of (i)
Macfarlanes, U.K. counsel to Scotts Holdings Limited and (ii) Vorys,
Sater, Seymour and Pease, counsel to Scotts.
(c) the Agent shall have received an acknowledgment by each of
the Subsidiary Guarantors that the obligations guaranteed by it under
the Subsidiaries Guarantee include all amounts guaranteed by the
Borrower under the Scotts Guarantee and all obligations of the U.K.
Borrowers under the Credit Agreement as amended hereby.
(d) the Agent shall have received a copy of the resolutions,
in form and substance satisfactory to the Agent, of the Board of
Directors of Scotts Holdings Limited authorizing the execution and
delivery of this Second Amendment, certified by the Secretary or an
Assistant Secretary of Scotts Holdings Limited, as the case may be, as
of the Second Amendment Effective Date, which certificate shall state
that the resolutions thereby certified have not been amended, modified,
revoked and rescinded since the date of adoption thereof.
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8. Representations and Warranties. The Borrower hereby represents and
warrants as of the date hereof that after giving effect to this Second Amendment
(a) each of the representations and warranties made by the Borrower in or
pursuant to Section 4 of the Credit Agreement shall be true and correct on and
as of such date as if made on and as of such date and (b) no Default or Event of
Default shall have occurred and be continuing.
9. Limited Amendment. Except as expressly amended hereby, all the
provisions of the Credit Agreement and the other Loan Documents are hereby
affirmed and shall continue to be in full force and effect in accordance with
their terms, and any amendments contained herein shall be limited precisely as
drafted and shall not constitute an amendment of any terms or provisions of the
Credit Agreement except as expressly provided herein. Scotts hereby acknowledges
that the obligations guaranteed by it under the Scotts Guarantee includes all
amounts owing by Scotts Holdings Limited and the other U.K. Borrowers under the
Credit Agreement as amended hereby.
10. U.K. Borrower. By executing and delivering this Second Amendment,
Scotts Holdings Limited shall become party to the Credit Agreement and entitled
to the rights and subject to the liabilities and duties provided for it in the
Credit Agreement as amended hereby, without any further action being necessary.
11. Counterparts. This Second Amendment may be executed by the parties
hereto in any number of counterparts, and all of such counterparts taken
together shall be deemed to constitute one and the same instrument.
12. GOVERNING LAW. THIS SECOND AMENDMENT AND THE RIGHTS AND OBLIGATIONS
OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
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IN WITNESS WHEREOF, the parties hereto have caused this amendment to be
duly executed and delivered in New York by their proper and duly authorized
officers as of the day and year first above written.
SCOTTS HOLDINGS LIMITED THE SCOTTS COMPANY
By: /s/ Matthew Reed By: /s/ Charles M. Berger
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Title: Director Title: Chairman, President and
Chief Executive Officer
THE CHASE MANHATTAN BANK (formerly
Chemical Bank), as Agent and as
a Bank
By: /s/ Timothy J. Storms
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Title: Managing Director
BANK ONE, N.A.
By: /s/ Douglas H. Klamfoth
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Title: Vice President
COMERICA BANK
By: /s/ Lee J. Santioni
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Title: First Vice President
CREDIT LYONNAIS
By: /s/ Mary Ann Klemm
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Title: Vice President
NATIONAL CITY BANK, COLUMBUS
By: /s/ David B. Yates
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Title: Vice President
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PNC BANK, OHIO, NATIONAL
ASSOCIATION
By: /s/ Toby B. Rau
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Title: Assistant Vice President
KEY BANK
By: /s/ Rich A. Pohle
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Title: Vice President
THE BANK OF NOVA SCOTIA
By: /s/ F.C.H. Ashby
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Title: Senior Manager, Loan
Operations
NBD BANK
By: /s/ Robert L. Jackson
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Title: First Vice President
SOCIETE GENERALE
By: /s/ Joseph A. Philbin
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Title: Vice President
THE BANK OF TOKYO MITSUBISHI TRUST CO.
By: /s/ Fredrich N. Wilms
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Title: Vice President
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UNION BANK OF CALIFORNIA, N.A.
By: /s/ Henry G. Montgomery
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Title: Vice President
THE NORTHERN TRUST COMPANY
By: /s/ James F.T. Monhart
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Title: Vice President
ROYAL BANK OF SCOTLAND
By: /s/ Russell M. Gibson
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Title: Vice President & Deputy
Director
THE SANWA BANK, LIMITED, CHICAGO
BRANCH
By: /s/ James P. Byrnes
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Title: First Vice President
THE TOKAI BANK, LIMITED
By: /s/ Masanori Nakagawa
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Title: Joint General Manager
WACHOVIA CORPORATE SERVICES
By: /s/ Michael A. Ripps
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Title: Vice President
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Each of the undersigned Guarantors hereby acknowledge that the
obligations guaranteed by it under the Subsidiaries Guarantee dated as of March
17, 1995 include all amounts guaranteed by the Borrower under the Scotts
Guarantee and all obligations of the U.K. Borrowers under the Credit Agreement
as amended by the foregoing Second Amendment and Consent.
SCOTTS-SIERRA HORTICULTURAL PRODUCTS COMPANY
By: /s/ Charles M. Berger
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Title: President
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Address for Notices:
14111 Scottslawn Road
Marysville, Ohio 43041
Fax: (937) 644-7568
SCOTTS-SIERRA CROP PROTECTION COMPANY
By: /s/ Charles M. Berger
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Title: President
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Address for Notices:
14111 Scottslawn Road
Marysville, Ohio 43041
Fax: (937) 644-7568
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OMS INVESTMENTS, INC.
By: /s/ G. Robert Lucas
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Title: Secretary
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Address for Notices:
1100 North Market Street
Wilmington, Delaware 19890
Fax: (302) 651-8464
REPUBLIC TOOL & MANUFACTURING CORP.
By: /s/ Charles M. Berger
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Title: President
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Address for Notices:
6212 Corte del Abeto
Carlsbad, California 92009
Fax: (760) 438-5891
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SCOTTS GRASS CO. SCOTTS WEED CONTROL CO.
By: /s/ Charles M. Berger By: /s/ Charles M. Berger
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Title: President Title: President
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SCOTTS ENERGY CO. SCOTTS GOLF CO.
By: /s/ Charles M. Berger By: /s/ Charles M. Berger
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Title: President Title: President
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SCOTTS GREEN LAWNS CO. SCOTTS GARDEN CO.
By: /s/ Charles M. Berger By: /s/ Charles M. Berger
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Title: President Title: President
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SCOTTS SOD CO. SCOTTS DESIGN CO.
By: /s/ Charles M. Berger By: /s/ Charles M. Berger
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Title: President Title: President
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SCOTTS PESTICIDE CO. SCOTTS TECH REP CO.
By: /s/ Charles M. Berger By: /s/ Charles M. Berger
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Title: President Title: President
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SCOTTS PLANT CO. SCOTTS BROAD LEAF CO.
By: /s/ Charles M. Berger By: /s/ Charles M. Berger
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Title: President Title: President
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SCOTTS INSECTICIDE CO. SCOTTS SPREADER CO.
By: /s/ Charles M. Berger By: /s/ Charles M. Berger
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Title: President Title: President
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SCOTTS IMPROVEMENT CO. OLD FORT FINANCIAL CORP.
By: /s/ Charles M. Berger By: /s/ Charles M. Berger
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Title: President Title: President
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HYPONEX CORPORATION
Hyponex Corporation as successor to the following corporations pursuant to
merger documents effective September 1995: Hyponex Corporation-California;
Hyponex Corporation-Colorado; Hyponex Corporation-Florida; Hyponex
Corporation-Texas; Bunyon Enterprises, Inc.; The Hyponex Company, Inc.;
Hyper-Humus Company, Inc.
By: /s/ Charles M. Berger
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Title: President
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Address for Notices:
14111 Scottslawn Road
Marysville, Ohio 43041
Fax: (937) 644-7568
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SCOTTS TREE CO. SCOTTS SERVICE CO.
By: /s/ Charles M. Berger By: /s/ Charles M. Berger
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Title: President Title: President
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SCOTTS PRODUCTS CO. SCOTTS FERTILIZER CO.
By: /s/ Charles M. Berger By: /s/ Charles M. Berger
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Title: President Title: President
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SCOTTS PARK CO. SCOTTS PROFESSIONAL PRODUCTS CO.
By: /s/ Charles M. Berger By: /s/ Charles M. Berger
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Title: President Title: President
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SCOTTS TURF CO. SCOTTS BEST LAWNS CO.
By: /s/ Charles M. Berger By: /s/ Charles M. Berger
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Title: President Title: President
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SCOTTS CONTROL CO. SCOTTS PROTURF CO.
By: /s/ Charles M. Berger By: /s/ Charles M. Berger
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Title: President Title: President
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(1) Lending Offices; Addresses for Notice
THE CHASE MANHATTAN BANK
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10 S. LaSalle Street, 23rd Fl.
Chicago, IL 60603
Attn.: Leonard Essex
Managing Director
Telephone: 312-807-4091
Fax: 312-807-4550
With a copy to:
Caroline Devlin
Associate
Telephone: 312-807-4091
Fax: 312-807-4550
BANK ONE, N.A.
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Corporate Banking
OHI-0209
P.O.Box 710209
Columbus, OH 43271-0209
Attn.: Douglas H. Klamfoth
Vice President
Corporate Banking
Telephone: 614-248-5839
Fax: 614-248-6618
COMERICA BANK
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500 Woodward Avenue
Detroit, Michigan 48226-3268
Attn.: Anthony L. Davis
Acct. Representative
Telephone: 313-222-9452
Fax: 313-222-9514
CREDIT LYONNAIS
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227 West Monroe Street
Chicago, Illinois 60606-5018
Attn.: Julie Kanak
Vice President
Telephone: 312-220-7302
Fax: 312-641-0527
With a copy to:
Same address.
Attn.: Mary Ann Klemm
Vice President, Corporate Group Head
Telephone: 312-220-7308
Fax: 312-641-0527
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Same address
Attn.: Eric J. Tobin, CFA
Vice President
Telephone: 312-220-7314
Fax: 312-641-0527
NATIONAL CITY BANK
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155 East Broad Street
Columbus, OH 43251-0030
Attn.: David Yates
Vice President
Regional Manager, Regional Banking
Telephone: 614-463-8889
Fax: 614-463-7959
NBD BANK
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183 Glenn Road
Moreland Hills, OH 44022
Attn.: Robert L. Jackson
First Vice President
Telephone: 216-248-0743
Fax: 216-247-0315
NORTHERN TRUST COMPANY
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50 South LaSalle Street
Chicago, IL 60675
Attn.: Nicole Kidder
Commercial Banking Officer
Telephone: 312-557-8382
Fax: 312-444-3508
PNC BANK, OHIO, N.A.
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National Corporate Banking
201 East Fifth Street
P.O. Box 1198
Cincinnati, OH 45201-1198
Attn.: Toby Rau
Senior Vice President
Telephone: 513-651-8688
Fax: 513-651-8952
SOCIETE GENERALE
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181 West Madison Street
Suite 3400
Chicago, Illinois 60602
Attn.: Joseph Philbin
Vice President
Telephone: 312-578-5005
Fax: 312-578-5099
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KEY BANK
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Mailcode: OH-01-27-0606
127 Public Square
Cleveland, OH 44114-1306
Attn.: Brenden Lawlor
Vice President
Portfolio Management
Large Corporate
Telephone: 216-689-5642
Fax: 216-689-4981
With a copy to:
525 Vine Street
Cincinnati, OH 45202
Attn.: Wayne K. Guessford
Vice President/Senior Banker
Corporate Banking
Telephone: 513-762-8204
Fax: 513-762-8222
THE BANK OF NOVA SCOTIA
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181 West Madison Street
Suite 3700
Chicago, Illinois 60602
Attn.: Keith W. Rauschenberger
Telephone: 312-201-4183
Fax: 312-201-4108
THE BANK OF TOKYO MITSUBISHI TRUST COMPANY
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1251 Avenue of the Americas
New York, NY 10020-1104
Attn.: Fredrich N. Wilms
Vice President, Marketing Dept. 1
Telephone: 212-782-4341
Fax: 212-782-6445
THE ROYAL BANK OF SCOTLAND
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88 Pine Street, 26th floor
New York, NY 10005-1801
Attn.: Russell Gibson
Vice President and Deputy Manager
Telephone: 212-269-1700
Fax: 212-269-8929
THE SANWA BANK LTD.
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200 Public Square
BP American Building
29th Floor-Suite 3400
Cleveland, OH 44114-2301
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Attn.: James P. Byrnes
First Vice President and Representative
Telephone: 216-736-3377
Fax: 216-736-3381
THE TOKAI BANK, LIMITED
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181 West Madison
Suite 3600
Chicago, Illinois 60602
Attn.: Patrick R. Keller
Corporate Banking Officer
Telephone: 312-456-3424
Fax: 312-977-0003
UNION BANK OF CALIFORNIA, N.A.
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350 California Street
11th Floor
San Francisco, CA 94104-1408
Attn.: Gail Fletcher
Vice President
Telephone: 415-705-7050
Fax: 415-765-3146
WACHOVIA CORPORATE SERVICES
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19 Peachtree Street, N.E.
Atlanta, GA 30303
Attn.: Michael A. Ripps
Vice President
Telephone: 404-332-5283
Fax: 404-332-6898