Exhibit 10.1

 

AMENDMENT

 

AMENDMENT, dated as of December 31, 2002 (this “Amendment”), to the Credit
Agreement, dated as of March 26, 2002 (as amended, supplemented or modified from
time to time, the “Credit Agreement”), among ROTECH HEALTHCARE INC., a Delaware
corporation (the “Borrower”), the Lenders parties thereto, UBS WARBURG LLC and
GOLDMAN SACHS CREDIT PARTNERS L.P., as joint lead arrangers and joint
bookrunners (the “Arrangers”), GOLDMAN SACHS CREDIT PARTNERS L.P., as
Syndication Agent, THE BANK OF NOVA SCOTIA, DEUTSCHE BANC ALEX. BROWN INC. and
GENERAL ELECTRIC CAPITAL CORPORATION, as Co-Documentation Agents, GENERAL
ELECTRIC CAPITAL CORPORATION, as Collateral Agent, and UBS AG, STAMFORD BRANCH,
as Administrative Agent.

 

W  I  T  N  E  S  S  E  T  H:

 

WHEREAS, the Borrower has requested that certain provisions of the Credit
Agreement be amended upon the terms and subject to the conditions set forth
herein; and

 

WHEREAS, the Lenders have agreed to such amendments upon the terms and subject
to the conditions set forth herein;

 

NOW, THEREFORE, in consideration of the premises and mutual covenants contained
herein and in the Credit Agreement, the parties hereto hereby agree as follows:

 

1.    Defined Terms.    Unless otherwise defined herein, terms used herein and
defined in the Credit Agreement are used herein as therein defined.

 

2.    Amendment to Section 1.1 (Defined Terms).    The definition of
“Consolidated EBITDA” in Section 1.1 is hereby amended by:

 

(a)    (i) deleting the words “and (e)” and substituting in lieu therefore the
words “, (e)” and (ii) inserting immediately after the words “for any fiscal
year of the Borrower” the following “and (f) any expenses or losses recorded on
or prior to December 31, 2002 arising from transactions approved by Plan of
Reorganization (excluding expenses related to the Credit Agreement), provided
that, the aggregate amount of such expenses or losses paid in cash during (x)
the Borrower’s 2002 fiscal year shall not exceed $10,560,000 and (y) the
Borrower’s 2003 fiscal year shall not exceed $4,000,000”; and

 

(b)    following the word “minus”, deleting the words “(a)” and “and (b) any
cash payments made during such period in respect of items described in clause
(e) above subsequent to the fiscal quarter in which the relevant non-cash
expenses or losses were reflected as a charge in the statement of Consolidated
Net Income, all as determined on a consolidated basis, to the extent that such
cash payments are made with respect to non-cash expenses and losses excluded
pursuant to the proviso in clause (e) above”.

 

3.    Conditions to Effectiveness.    This Amendment shall become effective on
the date the Administrative Agent shall have received: (a) an executed
counterpart of this Amendment duly executed and delivered by the Borrower, the
Agents and each of the Required

 

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2

 

Lenders and (b) an Acknowledgement and Consent in the form attached hereto as
Exhibit A duly executed and delivered by each Guarantor.

 

4.    Representations and Warranties.    As of the date hereof and after giving
effect to the amendments contained herein, the Borrower hereby confirms,
reaffirms and restates the representations and warranties made by it in Section
4 of the Credit Agreement, except to the extent any of such representations and
warranties relate to a specific earlier date, in which case such representations
and warranties shall be deemed true and correct on and as of such earlier date;
provided, that each reference therein to the Credit Agreement shall be deemed to
be a reference to the Credit Agreement after giving effect to this Amendment.

 

5.    Payment of Expenses.    The Borrower agrees to pay or reimburse the
Administrative Agent for all of its out-of-pocket costs and expenses incurred in
connection with this Amendment, any other documents prepared in connection
herewith and the transactions contemplated hereby, including, without
limitation, the reasonable fees and disbursements of counsel to the
Administrative Agent.

 

6.    Continuing Effect.    Except as expressly provided hereby, all of the
terms and provisions of the Credit Agreement and the other Loan Documents are
and shall remain in full force and effect. The amendments, waivers and
acknowledgement contained herein shall not be construed to as an amendment or
waiver of any other provision of the Credit Agreement or the other Loan
Documents or for any purpose except as expressly set forth herein or a consent
to any further or future action on the part of the Borrower that would require
the waiver or consent of the Administrative Agent or the Lenders.

 

7.    Counterparts.    This Amendment may be executed by one or more of the
parties hereto in any number of separate counterparts and all of said
counterparts taken together shall be deemed to constitute one and the same
instrument. Any executed counterpart delivered by facsimile transmission shall
be effective as for all purposes hereof.

 

8.    GOVERNING LAW.    THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HERETO SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE
WITH, THE LAWS 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 by the respective proper and duly authorized officers as
of the day and year first above written.

 

ROTECH HEALTHCARE INC.

     

By:

 

/S/    JANET L. ZIOMEK

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Name:  Janet L. Ziomek

   

Title:    CFO

 

 

GOLDMAN SACHS CREDIT PARTNERS L.P.,
as Syndication Agent

     

By:

 

/S/    STEPHEN B. KING

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Name:  Stephen B. King

   

Title:    Authorized Signatory

 

 

UBS AG, STAMFORD BRANCH, as
Administrative Agent and a Lender

     

By:

 

/S/    ROBERT REUTER

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Name:  Robert Reuter

   

Title:    Executive Director

 

       

By:

 

/S/    RENATA JACOBSON

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Name:  Renata Jacobson

   

Title:    Director

   

             Loan Portfolio

   

             Risk Management

 

GENERAL ELECTRIC CAPITAL
CORPORATION, as Co-Documentation Agent, Collateral Agent and a Lender

     

By:

 

/S/    KATHERINE R. LOFFT

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Name:  Katherine R. Lofft

   

Title:    Duly Authorized Signatory

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THE BANK OF NOVA SCOTIA

as Co-Documentation Agent and a Lender

By:

 

/s/    CAROLYN A. CALLOWAY

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Name:

Title:

 

Carolyn A. Calloway

Managing Director

 

 

 

 

[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002]

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CREDIT LYONNAIS NEW YORK BRANCH

By:

 

/s/    CHARLES HEIDSIECK

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Name:

Title:

 

Charles Heidsieck

Senior Vice President

 

 

 

 

[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002]

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DEUTSCHE BANK TRUST COMPANY

AMERICAS

By:

 

/s/    SCOTTYE LINDSEY

--------------------------------------------------------------------------------

   

Name:

Title:

 

Scottye Lindsey

Vice President

 

 

 

 

[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002]

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FLAGSHIP CLO 2000-1

By:

 

Flagship Capital Mgt, Inc

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[LENDER]

   

By:

 

/S/    COLLEEN CUNNIFFE

--------------------------------------------------------------------------------

       

Name:

Title:

 

Colleen Cunniffe

Director

 

 

 

[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002]

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CONTINENTAL CASUALTY COMPANY

--------------------------------------------------------------------------------

[LENDER]

By:

 

/s/    MARILOU R. MCGIRR

--------------------------------------------------------------------------------

   

Name:

Title:

 

Marilou R. McGirr

Vice President

 

 

 

 

[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002]

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CITIGROUP INVESTMENTS

CORPORATE LOAN FUND INC.

 

By Travelers Asset Management

International Company, LLC

By:

 

/s/    MATTHEW J. MCINERNY

--------------------------------------------------------------------------------

   

Name:

Title:

 

Matthew J. McInerny

Investment Officer

 

 

 

 

[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002]

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COLUMBUS LOAN FUNDING LTD.

By Travelers Asset Management International Company, LLC

By:

 

/s/    MATTHEW J. MCINERNY

--------------------------------------------------------------------------------

   

Name:

Title:

 

Matthew J. McInerny

Investment Officer

 

 

 

 

[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002]

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THE TRAVELERS INSURANCE COMPANY

By:

 

/S/    MATTHEW J. MCINERNY

--------------------------------------------------------------------------------

   

Name:

Title:

 

Matthew J. McInerny

Investment Officer

 

 

 

 

[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002]

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CITICORP INSURANCE AND
INVESTMENT TRUST

By Travelers Asset Management International Company, LLC

By:

 

/s/    MATTHEW J. MCINERNY

--------------------------------------------------------------------------------

   

Name:

Title:

 

Matthew J. McInerny
Investment Officer

 

 

 

 

[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002]

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PPM SHADOW CREEK FUNDING LLC

By:

 

/s/    DIANA L. MUSHILL

--------------------------------------------------------------------------------

   

Name:

Title:

 

Diana L. Mushill
Asst. Vice President

 

 

 

 

[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002]

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PPM SPYGLASS FUNDING TRUST

By:

 

/s/    DIANA L. MUSHILL

--------------------------------------------------------------------------------

   

Name:

Title:

 

Diana L. Mushill
Authorized Agent

 

 

 

 

[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002]

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CERES II FINANCE LTD.

By:

 

INVESCO Senior Secured Management, Inc.

   

As Sub-Managing Agent (Financial)

   

By:

 

/S/    THOMAS H. B. EWALD

--------------------------------------------------------------------------------

       

Name:    Thomas H. B. Ewald

Title:      Authorized Signatory

 

 

 

 

[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002]

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CHARTER VIEW PORTFOLIO

By:

 

INVESCO Senior Secured Management, Inc. Investment Advisor

         

By:

 

/s/    THOMAS H. B. EWALD

--------------------------------------------------------------------------------

       

Name:

Title:

 

Thomas H. B. Ewald

Authorized Signatory

 

 

 

 

[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002]

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AIM FLOATING RATE FUND

By:

 

INVESCO Senior Secured Management, Inc.

As Attorney in fact

         

By:

 

/s/    THOMAS H. B. EWALD

--------------------------------------------------------------------------------

       

Name:

Title:

 

Thomas H. B. Ewald

Authorized Signatory

 

 

 

[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002]

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SEQUILS-LIBERTY, LTD.

By:

 

INVESCO Senior Secured Management, Inc.

As Collateral Manager

         

By:

 

/s/    THOMAS H. B. EWALD

--------------------------------------------------------------------------------

       

Name:

Title:

 

Thomas H. B. Ewald

Authorized Signatory

 

 

 

 

[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002]

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SARATOGA CLO I, LIMITED

By:

 

INVESCO Senior Secured Management, Inc.

As Asset Manager

         

By:

 

/s/    THOMAS H. B. EWALD

--------------------------------------------------------------------------------

       

Name:

Title:

 

Thomas H. B. Ewald

Authorized Signatory

 

 

 

 

[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002]

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FOOTHILL INCOME TRUST II, L.P.

By:

 

FIT II GP, LLC, Its General Partner

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                    [LENDER]

   

By:

 

/s/    M.E. STEARNS

--------------------------------------------------------------------------------

       

Name:

Title:

 

M.E. Stearns

Managing Member

 

 

 

 

[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002]