Exhibit 10.47A

 

FIRST AMENDMENT TO AMENDED AND RESTATED

TRUST AGREEMENT

 

BY AND AMONG

 

INDIAN RIVER BANKING COMPANY, as Depositor,

 

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Property Trustee,

 

WELLS FARGO DELAWARE TRUST COMPANY, as Resident Trustee,

 

THE ADMINISTRATIVE TRUSTEES NAMED HEREIN

 

and

 

ALABAMA NATIONAL BANCORPORATION

 

Dated as of November 19, 2003

 

Amended and Restated Trust Agreement

Dated as of September 30, 2002

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FIRST AMENDMENT TO AMENDED AND RESTATED

TRUST AGREEMENT

 

THIS FIRST AMENDMENT TO AMENDED AND RESTATED TRUST AGREEMENT (this “Amendment”)
is made as of this 19th day of November 2003, by and among Indian River Banking
Company, a Florida corporation (“IRBC” or, before the Effective Time, the
“Depositor”), as original depositor, Alabama National BanCorporation, a Delaware
corporation (“ANB” or, after the Effective Time, the “Depositor”), as successor
depositor, Wells Fargo Bank, National Association, a national banking
association (the “Property Trustee”), as property trustee, Wells Fargo Delaware
Trust Company (the “Resident Trustee”), as resident trustee, Paul A. Beindorf,
Diana L. Walker and Phillip L. Tasker (each an “Administrative Trustee” and
together the “Administrative Trustees”), as administrative trustees (the
Property Trustee, the Resident Trustee and the Administrative Trustees referred
to collectively as the “Trustees”).

 

WHEREAS, IRBC and the Trustees have entered into an Amended and Restated Trust
Agreement, dated as of September 30, 2002 (the “Trust Agreement”), related to
the issuance of preferred securities and common securities by Indian River
Capital Trust I on September 30, 2002;

 

WHEREAS, IRBC and ANB have entered into an Agreement and Plan of Merger, dated
as of October 22, 2003, that provides for the merger (the “Merger”) of IRBC with
and into ANB;

 

WHEREAS, the Merger will become effective (a) on the date and at the time that
the later of the following shall occur: (i) the Certificate of Merger reflecting
the Merger shall be accepted for filing by the Secretary of State of Delaware,
and (ii) the Articles of Merger reflecting the Merger shall be accepted for
filing by the Secretary of State of Florida, or (b) on the date and at the time
as may be otherwise specified by the parties to the Merger in the Certificate of
Merger and the Articles of Merger (the time and date when the Merger becomes
effective is referred to herein as the “Effective Time”);

 

WHEREAS, at the Effective Time, the separate corporate existence of IRBC will
cease and ANB will continue as the surviving corporation following the Merger;

 

WHEREAS, as set forth in Section 10.6 of the Trust Agreement, the Merger is a
consolidation, merger or sale involving the Depositor that is permitted under
Article XII of the Indenture, and ANB desires to agree in writing to perform the
Depositor’s obligations under the Trust Agreement;

 

WHEREAS, this Amendment has been duly authorized by all necessary action on the
part of IRBC and ANB.

 

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NOW, THEREFORE, in consideration of the premises set forth herein and other good
and valuable consideration, IRBC, ANB and the Trustees agree as follows for the
equal and ratable benefit of the Holders:

 

ARTICLE I

DEFINITIONS; INTERPRETATION

 

1.1. Definitions. Capitalized terms that are defined in the preamble or the
recitals hereto shall have such meanings throughout this Amendment. Capitalized
terms used but not defined in this Amendment shall have the meanings assigned
thereto in the Trust Agreement. The meanings assigned to all defined terms used
in this Amendment shall be equally applicable to both the singular and plural
forms of such defined terms. The term “Trust Agreement” as used herein means the
Amended and Restated Trust Agreement, as amended and supplemented by this
Amendment, or as otherwise supplemented or amended from time to time by one or
more amendments thereto or hereto entered into pursuant to the applicable
provisions of the Amended and Restated Trust Agreement.

 

1.2. Interpretation. References in the Trust Agreement (including references in
the Trust Agreement as amended or supplemented hereby) to “this Trust Agreement”
(and indirect references such as “hereunder,” “herein” and “hereof”) shall be
deemed references to the Trust Agreement as amended and supplemented hereby. All
of the covenants, agreements and provisions of this Amendment shall be deemed to
be and construed as part of the Trust Agreement to the same effect as if fully
set forth therein and shall be fully enforceable in the manner provided in the
Trust Agreement. Except as otherwise provided in this Amendment, all of the
covenants, agreements and provisions of the Trust Agreement shall remain in full
force and effect.

 

ARTICLE II

MERGER

 

Assumption by ANB. ANB, as the surviving corporation of the Merger, shall become
fully responsible as of the Effective Time, without any further action, for the
due and punctual performance and observance of all of the obligations of the
Trust Agreement to be kept or performed by the Depositor. Upon such assumption,
ANB shall succeed to and be substituted for IRBC with the same effect as if it
had been named in the Trust Agreement as the original depositor, and IRBC
thereupon shall be relieved of any further liability or obligation under the
Trust Agreement. Upon and following the Effective Time, the parties hereto agree
that all references to the “Depositor” in the Trust Agreement shall be deemed
references to ANB, until a successor replaces it pursuant to the applicable
provisions of the Trust Agreement and thereafter the “Depositor” shall mean such
successor.

 

ARTICLE III

MISCELLANEOUS

 

3.1. Date and Time of Effectiveness. This Amendment shall become a legally
effective and binding instrument at and as of the Effective Time.

 

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3.2. Trust Preferred Securities Deemed Conformed. Beginning at the Effective
Time, the provisions of each Trust Preferred Security then outstanding shall be
deemed to be conformed, without the necessity for any reissuance or exchange of
such Trust Preferred Security or any other action on the part of the Holders,
IRBC, ANB or the Trustee, so as to reflect this Amendment.

 

3.3. Successors. All agreements of IRBC, ANB and the Trustees in this Amendment
and in the Trust Agreement shall bind their respective successors.

 

3.4. Benefits of Amendment. Nothing in this Amendment, express or implied, shall
give to any person, other than the parties hereto and their successors
hereunder, any agent and the Holders, any benefit or any legal or equitable
right, remedy or claim under this Amendment or the Trust Agreement.

 

3.5. Separability. In case any provision in this Amendment, or in the Trust
Agreement, shall be invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions shall not in any way be affected
or impaired thereby, it being intended that all of the provisions hereof shall
be enforceable to the full extent permitted by law.

 

3.6. Trustee Responsibility. The Trustees assume no duties, responsibilities or
liabilities by reason of this Amendment other than as set forth in the Trust
Agreement. The Trustees assume no responsibility for the correctness of the
statements herein contained, which shall be taken as statements of IRBC and ANB.
This Amendment is executed and accepted by the Trustees subject to all of the
terms and conditions of its acceptance of the trust under the Trust Agreement,
as fully as if said terms and conditions were herein set forth in full.

 

3.7. Headings. The Article and Section headings of this Amendment have been
inserted for convenience of reference only, are not to be considered a part of
this Amendment and shall in no way modify or restrict any of the terms or
provisions hereof.

 

3.8. Counterparts. This Amendment may be executed in counterparts, each of which
shall for all purposes be deemed to be an original, and all such counterparts
shall together constitute but one and the same instrument.

 

3.9. Governing Law. This Amendment shall be governed by and construed in
accordance with the internal laws of the State of Delaware, without regard to
its choice of law provisions.

 

[Signature Pages Follow]

 

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IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to
Amended and Restated Trust Agreement to be duly executed, and their respective
corporate seals to be hereunto affixed and attested, all as of the day and year
first above written.

 

Attest : (SEAL)

  INDIAN RIVER BANKING COMPANY

/s/ Diana L. Walker

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By:

 

/s/ Paul A. Beindorf

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Diana L. Walker

     

Paul A. Beindorf

Secretary

     

Chief Executive Officer

 

Attest : (SEAL)

  WELLS FARGO BANK, NATIONAL ASSOCIATION,
as property trustee

/s/ Ann Roberts Dukart

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  By:  

/s/ Edward L. Truitt, Jr.

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Name: Ann Roberts Dukart

     

Name: Edward L. Truitt, Jr.

Title: Vice President

     

Title: Vice President

 

Attest : (SEAL)

 

WELLS FARGO DELAWARE TRUST COMPANY,

as resident trustee

     

/s/ Ann Roberts Dukart

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  By:  

/s/ Edward L. Truitt, Jr.

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Name: Ann Roberts Dukart

     

Name: Edward L. Truitt, Jr.

Title: Vice President

     

Title: Vice President

 

Attest : (SEAL)

  ALABAMA NATIONAL BANCORPORATION

/s/ Kimberly Moore

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  By:  

/s/ William E. Matthews, V

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Kimberly Moore

     

Name: William E. Matthews, V

Secretary

     

Title: EVP & CFO

 

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    ADMINISTRATIVE TRUSTEES:

Attest: (SEAL)

       

/s/ Macy N. Swift

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  By:  

/s/ Paul A. Beindorf

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Name: Macy N. Swift

     

Name: Paul A. Beindorf

Title: VP

     

Title: Administrative Trustee

 

Attest: (SEAL)

       

/s/ Macy N. Swift

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  By:  

/s/ Diana L. Walker

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Name: Macy N. Swift

     

Name: Diana L. Walker

Title: VP

     

Title: Administrative Trustee

 

Attest: (SEAL)

       

/s/ Macy N. Swift

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  By:  

/s/ Phillip Tasker

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Name: Macy N. Swift

     

Name: Phillip Tasker

Title: VP

     

Title: Administrative Trustee

 

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