Exhibit 10.89

 

EXECUTION VERSION

 

This FIRST AMENDMENT, dated as of September 29, 2017 (this “Amendment
Agreement”), to that certain Term Loan Agreement, dated as of July 31, 2017 (as
amended from time to time prior to the date hereof, the “Existing Credit
Agreement”; and the Existing Credit Agreement as amended by the Amendments (as
defined below), the “Amended Credit Agreement”), by and among Abbott
Laboratories, as Borrower (the “Borrower”), the lenders party thereto (the
“Lenders”), and Bank of America, N.A., as administrative agent (the
“Administrative Agent”), is made by and among the Borrower, the Lenders and the
Administrative Agent.  Unless otherwise defined herein, terms defined in the
Amended Credit Agreement (as defined below) and used herein shall have the
meanings given to them in the Amended Credit Agreement.

 

WHEREAS, the Effective Date occurred on July 31, 2017;

 

WHEREAS, the Borrower has requested certain amendments to the Existing Credit
Agreement;

 

WHEREAS, in order to effect the requested amendments, the Borrower and the
Lenders desire to amend, as of the Amendment Effective Date (as defined below),
the Existing Credit Agreement, subject to the terms and conditions set forth
herein;

 

NOW, THEREFORE, in consideration of the foregoing and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:

 

Section 1.  Amendment of the Existing Credit Agreement.  Each of the parties
hereto agrees that, subject to the satisfaction of the conditions set forth in
Section 3 below, the Credit Agreement shall be amended to delete the stricken
text (indicated textually in the same manner as the following example: stricken
text) and to add the double-underlined text (indicated textually in the same
manner as the following example:  double-underlined text) as set forth in the
pages of the Credit Agreement attached as Exhibit A hereto.

 

Section 2.  Representations and Warranties.  To induce the Administrative Agent
and the Lenders to enter into this Amendment Agreement, the Borrower hereby
represents and warrants to the Administrative Agent and the Lenders on the date
hereof that:

 

(a)   As of the Amendment Effective Date, no event has occurred and is
continuing, or shall occur as a result of the occurrence of the Amendment
Effective Date, that constitutes a Default.

 

(b)   Each of the representations and warranties of the Borrower set forth in
Section 4.01 of the Amended Credit Agreement are true and correct in all
material respects on and as of the Amendment Effective Date; provided, that to
the extent that such representations and warranties specifically refer to an
earlier date, they are true and correct in all material respects as of such
earlier date; provided, further, that any representation and warranty that is
qualified as to “materiality”, “Material Adverse Effect” or similar language
shall be true and correct in all respects on the Amendment Effective Date or on
such earlier date, as the case may be.

 

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Section 3.  Effectiveness of this Amendment Agreement and the Amended Credit
Agreement.  The effectiveness of this Amendment Agreement and the amendment of
the Existing Credit Agreement set forth herein are all subject to the
Administrative Agent’s (or its counsel’s) receipt of either (x) a counterpart of
this Amendment Agreement signed on behalf of the Borrower, the Administrative
Agent and each Lender or (y) customary written evidence reasonably satisfactory
to the Administrative Agent (which may include telecopy or electronic
transmission of a signed signature page of this Amendment Agreement) that such
party has signed a counterpart of this Amendment Agreement (the date on which
such condition shall first be satisfied, the “Amendment Effective Date”).

 

Section 4.  Effect of Amendment.

 

(a)        Except as expressly set forth herein or in the Amended Credit
Agreement, this Amendment Agreement shall not by implication or otherwise limit,
impair, constitute a waiver of or otherwise affect the rights and remedies of
the Lenders or the Administrative Agent under the Existing Credit Agreement or
any other Loan Document and shall not alter, modify, amend or in any way affect
any of the terms, conditions, obligations, covenants or agreements contained in
the Existing Credit Agreement or any other provision of the Existing Credit
Agreement or of any other Loan Document, all of which, subject to the terms of
the Amended Credit Agreement, are ratified and affirmed in all respects and
shall continue in full force and effect.  Nothing herein shall be deemed to
entitle the Borrower to a consent to, or a waiver, amendment, modification or
other change of, any of the terms, conditions, obligations, covenants or
agreements contained in the Existing Credit Agreement, Amended Credit Agreement
or any other Loan Document in similar or different circumstances.

 

(b)        On and after the Amendment Effective Date, each reference to the
“Credit Agreement” in any other Loan Document shall be deemed a reference to the
Amended Credit Agreement.  This Amendment Agreement shall constitute a “Loan
Document” for all purposes of the Amended Credit Agreement and the other Loan
Documents.

 

Section 5.  Governing Law.  THIS AMENDMENT AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, REGARDLESS OF
THE LAWS THAT MIGHT OTHERWISE GOVERN UNDER ANY APPLICABLE CONFLICT OF LAWS
PRINCIPLES.

 

Section 6.  Counterparts.  This Amendment Agreement may be executed in any
number of counterparts (and by different parties hereto in separate
counterparts), each of which shall constitute an original, but all of which when
taken together shall constitute a single contract.  Delivery of an executed
counterpart of a signature page of this Amendment Agreement by telecopy or
electronic transmission shall be as effective as delivery of a manually executed
counterpart hereof.

 

Section 7.  Headings.  Section headings in this Amendment Agreement are for
convenience of reference only, and shall not govern the interpretation of any of
the provisions of this Amendment Agreement.

 

[Remainder of page intentionally blank; signature pages follow]

 

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IN WITNESS WHEREOF, the parties hereto have executed this Amendment Agreement as
of the date first written above.

 

 

ABBOTT LABORATORIES

 

 

 

 

 

By:

  /s/ Karen M. Peterson

 

 

Name:  Karen M. Peterson

 

 

Title:    Vice President, Treasurer

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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BANK OF AMERICA, N.A.,

 

as Administrative Agent

 

 

 

By:

  /s/ Gerund Diamond

 

 

Name:  Gerund Diamond

 

 

Title:     Assistant Vice President

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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BANK OF AMERICA, N.A.

 

as a Lender

 

 

 

By:

  /s/ Darren Merten

 

 

Name: Darren Merten

 

 

Title:   Vice President

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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Barclays Bank PLC,

 

as a Lender

 

 

 

By:

  /s/ Jake Lam

 

 

Name:  Jake Lam

 

 

Title:    Assistant Vice President

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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Morgan Stanley Bank, N.A.,

 

as a Lender

 

 

 

By:

  /s/ Alice Lee

 

 

Name: Alice Lee

 

 

Title:   Authorized Signatory

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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BNP PARIBAS,

 

as a Lender

 

 

 

 

 

By:

  /s/ Michael Pearce

 

 

Name:  Michael Pearce

 

 

Title:    Managing Director

 

 

 

 

 

 

 

By:

  /s/ Michael Hoffman

 

 

Name:  Michael Hoffman

 

 

Title:    Director

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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CITIBANK, N.A.,

 

as a Lender

 

 

 

 

 

By:

  /s/ Pranjal Gambhir

 

 

Name: Pranjal Gambhir

 

 

Title:   Vice President

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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DEUTSCHE BANK AG NEW YORK BRANCH,

 

as a Lender

 

 

 

 

 

By:

  /s/ Ming K. Chu

 

 

Name: Ming K. Chu

 

 

Title:   Director

 

 

 

 

 

 

 

By:

  /s/ Virginia Cosenza

 

 

Name: Virginia Cosenza

 

 

Title:   Vice President

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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SOCIETE GENERALE,

 

as a Lender

 

 

 

 

 

By:

  /s/ Joseph Moreno

 

 

Name: Joseph Moreno

 

 

Title:   Managing Director

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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THE BANK OF TOKYO-MITSUBISHI, UFJ, LTD.,

 

as a Lender

 

 

 

 

 

By:

  /s/ Jaime Johnson

 

 

Name: Jaime Johnson

 

 

Title:   Director

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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HSBC Bank USA, N.A.,

 

as a Lender

 

 

 

 

 

By:

  /s/ Roderick Feltzer

 

 

Name: Roderick Feltzer

 

 

Title:  Vice President

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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SANTANDER BANK, N.A.,

 

as a Lender

 

 

 

 

 

By:

  /s/ Andres Barbosa

 

 

Name: Andres Barbosa

 

 

Title:   Executive Director

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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Standard Chartered Bank,

 

as a Lender

 

 

 

 

 

By:

  /s/ Daniel Mattern

 

 

Name: Daniel Mattern

 

 

Title:   Associate Director

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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GOLDMAN SACHS BANK USA,

 

as a Lender

 

 

 

 

 

By:

  /s/ Chris Lam

 

 

Name: Chris Lam

 

 

Title:   Authorized Signatory

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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THE NORTHERN TRUST COMPANY,

 

as a Lender

 

 

 

 

 

By:

  /s/ John Lascody

 

 

Name: John Lascody

 

 

Title:   Vice President

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH,

 

as a Lender

 

 

 

 

 

By:

  /s/ Brian Crowley

 

 

Name: Brian Crowley

 

 

Title:   Managing Director

 

 

 

 

 

 

 

By:

  /s/ Cara Younger

 

 

Name: Cara Younger

 

 

Title:   Director

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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ING BANK N.V., DUBLIN BRANCH,

 

as a Lender

 

 

 

 

 

By:

  /s/ Cormac Langford

 

 

Name: Cormac Langford

 

 

Title:   Director

 

 

 

 

 

 

 

By:

  /s/ Sean Hassett

 

 

Name: Sean Hassett

 

 

Title:   Director

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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INTESA SANPAOLO BANK LUXEMBOURG S.A.,

 

as a Lender

 

 

 

 

 

By:

  /s/ Paolo Enrico Pernice

 

 

Name: Paolo Enrico Pernice

 

 

Title:   Chief Financial Officer

 

 

 

 

 

 

 

By:

  /s/ Cristiano Patalocchi

 

 

Name: Cristiano Patalocchi

 

 

Title:   Chief Risk Officer

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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Mizuho Bank (USA),

 

as a Lender

 

 

 

 

 

By:

  /s/ Bertram H. Tang

 

 

Name: Bertram H. Tang

 

 

Title:   Director & Team Leader

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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ROYAL BANK OF CANADA,

 

as a Lender

 

 

 

 

 

By:

  /s/ Steven T. Bachman

 

 

Name: Steven T. Bachman

 

 

Title:   Authorized Signatory

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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Svenska Handelsbanken AB (publ), New York Branch,

 

as a Lender

 

 

 

 

 

By:

/s/ Mark Emmett

 

 

Name: Mark Emmett

 

 

Title:   Vice President

 

 

 

 

 

 

 

By:

/s/ Steve Cox

 

 

Name: Steve Cox

 

 

Title:   Senior Vice President

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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U.S. Bank National Association,

 

as a Lender

 

 

 

 

 

By:

/s/ Ryan M. Black

 

 

Name: Ryan M. Black

 

 

Title:   AVP

 

[Signature Page — First Amendment to Term Loan Agreement]

 

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EXHIBIT A

 

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“St. Jude” means St. Jude Medical, Inc., a Minnesota corporation.

 

“St. Jude Acquisition” means the acquisition of St. Jude by the Borrower on
January 4, 2017.

 

“St. Jude Transactions” means the St. Jude Acquisition and the financing
transactions in connection therewith, the repayment of certain existing
indebtedness of the Borrower and St. Jude and the payment of certain fees and
expenses in connection therewith.

 

“Subsidiary” means, with respect to any Person, any corporation, partnership,
joint venture, limited liability company, trust or estate of which (or in which)
more than 50% of (a) the issued and outstanding capital stock having ordinary
voting power to elect a majority of the board of directors of such corporation
(irrespective of whether at the time capital stock of any other class or classes
of such corporation shall or might have voting power upon the occurrence of any
contingency), (b) the interest in the capital or profits of such limited
liability company, partnership or joint venture or (c) the beneficial interest
in such trust or estate is at the time directly or indirectly owned or
controlled by such Person, by such Person and one or more of its other
Subsidiaries or by one or more of such Person’s other Subsidiaries.

 

“Target Material Adverse Effect” means a “Material Adverse Effect” (as defined
in the Alere Acquisition Agreement as in effect on April 13, 2017).

 

“Taxes” means all present or future taxes, levies, imposts, duties, deductions,
withholdings (including backup withholding), assessments, fees or other charges
imposed by any Governmental Authority, including any interest, additions to tax
or penalties applicable thereto.

 

“Termination Date” means the earliest to occur of (a) 11:59 p.m. New York City
time on September 30,October 3, 2017, (b) the consummation of the Alere
Acquisition without the use of the Facility and (c) the date of any termination
in accordance with the terms of the Alere Acquisition Agreement of the
Borrower’s obligations under the Alere Acquisition Agreement to consummate the
Alere Acquisition.

 

“Total Capitalization” means Consolidated Debt plus Consolidated Net Worth.

 

“Type” means, with respect to a Loan, its character as a Base Rate Loan or a
Eurodollar Rate Loan.

 

“United States” and “U.S.” each means the United States of America.

 

“U.S. Person” means any Person that is a “United States person” as defined in
Section 7701(a)(30) of the Code.

 

“U.S. Tax Compliance Certificate” has the meaning specified in
Section 2.16(e)(ii)(B)(III).

 

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copies of the Organization Documents of the Borrower, and (to the extent such
concept applies to such entity) certificates of good standing in the
jurisdiction of organization of the Borrower.

 

(e)                                  The Administrative Agent shall have
received, at least three (3) Business Days prior to the Effective Date, all
documentation and other information required by regulatory authorities under
applicable “know your customer” and anti-money laundering rules and regulations,
including, without limitation, the PATRIOT Act, requested in writing by the
Administrative Agent (on behalf of any Lender) at least ten (10) business days
prior to the Effective Date.

 

Promptly upon the occurrence thereof, the Administrative Agent shall notify the
Borrower and the Lenders that the Effective Date has occurred, and such notice
shall be conclusive and binding.

 

SECTION 3.02              Conditions to Funding on the Closing Date. The
obligation of each Lender to make a Loan in an amount equal to its Commitment on
the Closing Date is subject to the satisfaction (or waiver in accordance with
Section 8.01) of the following conditions on or prior to the Termination Date,
and no other conditions:

 

(a)                                 The Effective Date shall have occurred.

 

(b)                                 The Administrative Agent shall have received
for the Borrower (i) U.S. GAAP audited consolidated balance sheets and related
statements of earnings, comprehensive income, shareholders’ equity and cash
flows for the fiscal years ended December 31, 2016, December 31, 2015 and
December 31, 2014, and for any subsequent fiscal year ended at least 60 days
prior to the Closing Date and (ii) U.S. GAAP unaudited consolidated balance
sheets and related statements of earnings, comprehensive income and cash flows
for each subsequent fiscal quarter ended at least 40 days before the Closing
Date (in each case, except as permitted by the rules promulgated by the U.S.
Securities and Exchange Commission and subject to normal year-end adjustments
and absence of footnotes). The Borrower’s filing of any required audited
financial statements on Form 10-K or required unaudited financial statements on
Form 10-Q will satisfy the requirements under clauses (b)(i) or (b)(ii), as
applicable, of this paragraph. The Administrative Agent, on behalf of the
Lenders, hereby acknowledges receipt of the financial statements in the
foregoing clauses (b)(i) and (b)(ii) for the fiscal years ended December 31,
2016, December 31, 2015 and December 31, 2014 and the fiscal quarterquarters
ended March 31, 2017 and June 30, 2017.

 

(c)                                  The Alere Acquisition shall have been, or
shall substantially concurrently be, consummated in accordance with the terms of
the Alere Acquisition Agreement as in effect on the Effective Date without
giving effect to any amendments, modifications, supplements or waivers by the
Borrower thereto or consents by the Borrower thereunder that are materially
adverse to the Lenders without the Lead Arrangers’ prior written consent, it
being understood that (i) any decrease in the cash portion of the consideration
for the Alere Acquisition that is accompanied by a

 

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dollar-for-dollar reduction in Commitments in respect of the Facility of not
more than 15% of the total consideration for the Alere Acquisition shall be
deemed to be not materially adverse to the Lenders, (ii) any increase in the
cash portion of the consideration for the Alere Acquisition that, together with
any other increases since July 7, 2017, exceeds 10% of the purchase price shall
be deemed to be materially adverse to the Lenders and, (iii) any waiver or
modification of Sections 8.06(v) and 8.15 of the Alere Acquisition Agreement (as
in effect on April 13, 2017) shall be deemed to be materially adverse to the
Lenders and (iv) to the extent constituting an amendment, modification,
supplement or waiver by the Borrower to the Alere Acquisition Agreement or a
consent by the Borrower thereunder, the Borrower’s election not to terminate or
not to seek to terminate the Alere Acquisition Agreement pursuant to
Section 7.01(b)(i) of the Alere Acquisition Agreement (as in effect on April 13,
2017) shall be deemed to be not materially adverse to the Lenders.

 

(d)                                      The Administrative Agent shall have
received a solvency certificate from the chief financial officer of the Borrower
in the form attached hereto as Exhibit C certifying that the Borrower and its
Subsidiaries, on a consolidated basis after giving effect to the Alere
Transactions, are Solvent.

 

(e)                                       The Administrative Agent shall have
received a favorable opinion letter of (i) John A. Berry, Divisional Vice
President, Associate General Counsel and Assistant Secretary of the Borrower and
(ii) Wachtell, Lipton, Rosen & Katz, as New York counsel to the Borrower (or, in
each case, such other counsel as may be reasonably acceptable to the
Administrative Agent), in each case in the form agreed on or prior to the
Effective Date.

 

(f)                                        Each of the Alere Acquisition
Agreement Representations and the Specified Representations shall be true and
correct in all material respects as of the Closing Date; provided that any
representation and warranty that is qualified as to “materiality,” “Material
Adverse Effect” or similar language shall be true and correct (after giving
effect to any qualification therein) in all respects as of such date.

 

(g)                                       Since January 30, 2016, there shall
not have been any effect, change, event or occurrence that, individually or in
the aggregate, has had or would reasonably be expected to have a Target Material
Adverse Effect.

 

(h)                                      No Event of Default specified in
Section 6.01(a) or Section 6.01(e) of this Agreement with respect to the
Borrower exists (after giving pro forma effect to the Alere Acquisition) or
would result from the effectiveness of this Agreement.

 

(i)                                          The Administrative Agent shall have
received a certificate of a Responsible Officer of the Borrower certifying as to
the satisfaction of the conditions set forth in clauses (c), (f), (g) and (h) of
this Section 3.02.

 

(j)                                         The Administrative Agent (on behalf
of the Lead Arrangers and the Lenders) shall have received all fees and invoiced
expenses required to be paid on or

 

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