Exhibit 10.35

EXECUTION COPY

AMENDMENT NO. 1

Dated as of September 26, 2013

to

CREDIT AGREEMENT

Dated as of October 12, 2011

THIS AMENDMENT NO. 1 (this “Amendment”) is made as of September 26, 2013 by and
among C. R. Bard, Inc., a New Jersey corporation (the “Borrower”), the financial
institutions listed on the signature pages hereof and JPMorgan Chase Bank, N.A.,
as Administrative Agent (the “Administrative Agent’), under that certain Credit
Agreement dated as of October 12, 2011 by and among the Borrower, the Lenders
from time to time party thereto and the Administrative Agent (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”). Capitalized terms used herein and not otherwise defined herein
shall have the respective meanings given to them in the Credit Agreement.

WHEREAS, the Borrower has requested that the requisite Lenders and the
Administrative Agent agree to provide additional commitments under and make
certain amendments to the Credit Agreement;

WHEREAS, the Borrower, the Lenders party hereto and the Administrative Agent
have so agreed on the terms and conditions set forth herein;

NOW, THEREFORE, in consideration of the premises set forth above, the terms and
conditions contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Borrower, the
Lenders party hereto and the Administrative Agent hereby agree to enter into
this Amendment.

1. Amendments to the Credit Agreement. Effective as of the Amendment No. 1
Effective Date (as defined below), the parties hereto agree that the Credit
Agreement shall be amended as follows:

(a) The definition of “Commitment” appearing in Section 1.01 of the Credit
Agreement is amended to restate the final two sentences thereof in their
entirety to read as follows:

The amount of each Lender’s Commitment as of the Amendment No. 1 Effective Date
is set forth on Schedule 1.01, or in the Assignment and Assumption or other
agreement pursuant to which such Lender shall have assumed its Commitment, as
applicable. As of the Amendment No. 1 Effective Date, the aggregate amount of
the Commitments is $750,000,000.

(b) The definition of “Commitment Termination Date” appearing in Section 1.01 of
the Credit Agreement is amended to delete the reference to “October 12, 2016”
appearing therein and to replace such reference with “September 26, 2018”.

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(c) The definition of “Swingline Sublimit” appearing in Section 1.01 of the
Credit Agreement is amended to delete the reference to “$25,000,000” appearing
therein and to replace such reference with “$50,000,000”.

(d) Section 1.01 of the Credit Agreement is amended to add the following
definitions thereto in proper alphabetical order and, where applicable, replace
the corresponding previously existing definitions:

“Amendment No. 1 Effective Date” means September 26, 2013.

“Interpolated Rate” means, at any time, the rate per annum determined by the
Administrative Agent (which determination shall be conclusive and binding absent
manifest error) to be equal to the rate that results from interpolating on a
linear basis between: (a) the LIBOR Screen Rate for the longest period (for
which the LIBOR Screen Rate is available) that is shorter than the Impacted
Interest Period and (b) the LIBOR Screen Rate for the shortest period (for which
the LIBOR Screen Rate is available) that exceeds the Impacted Interest Period,
in each case, at such time.

“LIBO Rate” means, with respect to any Eurodollar Borrowing for any applicable
Interest Period, the London interbank offered rate administered by the British
Bankers Association (or any other Person that takes over the administration of
such rate) for Dollars for a period equal in length to such Interest Period as
displayed on pages LIBOR01 or LIBOR02 of the Reuters screen or, in the event
such rate does not appear on either of such Reuters pages, on any successor or
substitute page on such screen that displays such rate, or on the appropriate
page of such other information service that publishes such rate as shall be
selected by the Administrative Agent, with written notice to the Borrower, from
time to time in its reasonable discretion; in each case the “LIBOR Screen Rate”)
at approximately 11:00 a.m., London time, two (2) Business Days prior to the
commencement of such Interest Period; provided that, if the LIBOR Screen Rate
shall be less than zero, such rate shall be deemed to be zero for purposes of
this Agreement; provided, further, that if a LIBOR Screen Rate shall not be
available at such time for such Interest Period (the “Impacted Interest
Period”), then the LIBO Rate for such Interest Period shall be the Interpolated
Rate; provided, that, if any Interpolated Rate shall be less than zero, such
rate shall be deemed to be zero for purposes of this Agreement. It is understood
and agreed that all of the terms and conditions of this definition of “LIBO
Rate” shall be subject to Section 2.11.

“LIBOR Screen Rate” has the meaning assigned to such term in the definition of
“LIBO Rate”.

(e) Section 2.06(c) of the Credit Agreement is amended to delete the reference
to “$850,000,000” appearing in subclause (ii) thereof and to replace such
reference with “$1,000,000,000”.

(f) Section 6.04 of the Credit Agreement is amended to delete the reference to
“0.60 to 1.00” appearing therein and to replace such reference with “0.65 to
1.00”.

(g) Schedule 1.01 to the Credit Agreement is amended and restated in its
entirety in the form of Schedule 1.01 attached hereto.

 

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2. Departing Lenders. The parties hereto hereby acknowledge and agree that:

(a) Each of PNC Bank National Association, The Royal Bank of Scotland plc,
SunTrust Bank and Banca Monte dei Paschi di Siena S.p.A. (each a “Departing
Lender” and collectively the “Departing Lenders”) is entering into this
Amendment solely to evidence its exit from the Credit Agreement and shall have
absolutely no obligation hereunder. Upon the effectiveness hereof and the
payment described in Section 2(b)(ii), each Departing Lender shall no longer
(i) constitute a “Lender” for all purposes under the Loan Documents, (ii) be a
party to the Credit Agreement and (iii) have any obligations under any of the
Loan Documents, in each case, without further action required on the part of any
Person; and

(b) Upon the effectiveness hereof: (i) each Departing Lender’s “Commitment”
under the Credit Agreement shall be terminated, (ii) each Departing Lender shall
have received payment in full in immediately available funds of all of its
Loans, all interest thereon and all other amounts payable to it under the Credit
Agreement, (iii) each Departing Lender shall not be a Lender hereunder as
evidenced by its execution and delivery of its signature page hereto and
(iv) the defined term “Lenders” in the Credit Agreement shall exclude the
Departing Lenders.

3. Conditions of Effectiveness. The effectiveness of this Amendment (the
“Amendment No. 1 Effective Date”) is subject to the satisfaction of the
following conditions precedent:

(a) The Administrative Agent shall have received counterparts of this Amendment
duly executed by the Borrower, the Lenders (including the Departing Lenders),
the Issuing Bank and the Administrative Agent.

(b) The Administrative Agent shall have received favorable written opinions
(addressed to the Administrative Agent and the Lenders and dated the Amendment
No. 1 Effective Date) of (i) Drinker Biddle & Reath LLP, special New Jersey
counsel for the Borrower and (ii) Weil, Gotshal & Manges LLP, special New York
counsel for the Borrower, each covering such matters relating to the Borrower,
this Amendment or the Credit Agreement as amended hereby as the Administrative
Agent shall reasonably request (and the Borrower hereby instructs such counsels
to deliver such opinions to the Lenders and the Administrative Agent).

(c) The Administrative Agent shall have received such documents and certificates
as the Administrative Agent or its counsel may reasonably request relating to
the organization, existence and good standing of the Borrower, the authorization
of this Amendment and the Credit Agreement as amended hereby, and any other
matters relevant hereto, all in form and substance reasonably satisfactory to
the Administrative Agent and its counsel.

(d) The Administrative Agent shall have received a certificate, dated the
Amendment No. 1 Effective Date and signed by the President, a Vice President or
a Financial Officer of the Borrower, confirming compliance with the conditions
set forth in clauses (a) and (b) of the first sentence of Section 4.02 of the
Credit Agreement (excluding, however, the first parenthetical clause in such
clause (a)).

(e) The Administrative Agent shall have received, for the account of each Lender
(excluding any Departing Lender) party hereto that delivers its executed
signature page to this Amendment by no later than the date and time specified by
the Administrative Agent, an upfront fee in an amount equal to the amount
previously disclosed to the Lenders.

(f) The Administrative Agent shall have received payment of the Administrative
Agent’s and its affiliates’ fees and reasonable out-of-pocket expenses
(including the reasonable fees and expenses of Sidley Austin LLP, counsel to the
Administrative Agent, that are due and payable on or prior to the Amendment
No. 1 Effective Date and for which an invoice has been presented to the Borrower
at least one Business Day prior to the Amendment No. 1 Effective Date) in
connection with this Amendment.

 

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4. Representations and Warranties of the Borrower. The Borrower hereby
represents and warrants as follows:

(a) This Amendment and the Credit Agreement as modified hereby constitute legal,
valid and binding obligations of the Borrower, enforceable in accordance with
their terms, except as such enforceability may be limited by (a) bankruptcy,
insolvency, reorganization, moratorium or similar laws of general applicability
affecting the enforcement of creditors’ rights and (b) the application of
general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or at law).

(b) As of the date hereof and after giving effect to the terms of this
Amendment, (i) no Default has occurred and is continuing and (ii) the
representations and warranties of the Borrower set forth in the Credit Agreement
are true and correct in all material respects (or, in the case of any such
representations and warranties qualified as to materiality, in all respects) on
and as of the date hereof (or, if any such representation or warranty is
expressly stated to have been made as of a specific date, as of such specific
date).

5. Reference to and Effect on the Credit Agreement.

(a) Upon the effectiveness hereof, each reference to the Credit Agreement in the
Credit Agreement or any other Loan Document shall mean and be a reference to the
Credit Agreement as amended hereby.

(b) The Credit Agreement and all other documents, instruments and agreements
executed and/or delivered in connection therewith shall remain in full force and
effect and are hereby ratified and confirmed.

(c) Except as expressly set forth herein, the execution, delivery and
effectiveness of this Amendment shall not operate as a waiver of any right,
power or remedy of the Administrative Agent or the Lenders, nor constitute a
waiver of any provision of the Credit Agreement or any other documents,
instruments and agreements executed and/or delivered in connection therewith.

(d) On the Amendment No. 1 Effective Date, the Administrative Agent shall make
such reallocations of each Lender’s Applicable Percentage of the Revolving
Credit Exposure under the Credit Agreement as are necessary in order that the
Revolving Credit Exposure with respect to such Lender reflects such Lender’s
Applicable Percentage of the Revolving Credit Exposure under the Credit
Agreement as amended hereby. Each Departing Lender and each Lender hereby waives
any compensation by the Borrower of any and all losses, costs and expenses
incurred by such Departing Lender or Lender solely in connection with the sale
and assignment of any Eurodollar Loans and the reallocation described in this
clause (d) and occurring on the Amendment No. 1 Effective Date that would
otherwise be due to such Departing Lender or Lender pursuant to Section 2.13 of
the Credit Agreement.

(e) This Amendment is a “Loan Document” under (and as defined in) the Credit
Agreement.

6. Governing Law. This Amendment shall be construed in accordance with and
governed by the law of the State of New York.

 

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7. Submission to Jurisdiction. The Borrower hereby irrevocably and
unconditionally submits, for itself and its property, to the exclusive
jurisdiction of the Supreme Court of the State of New York sitting in New York
County and of the United States District Court of the Southern District of New
York, and any appellate court from any thereof, in any action or proceeding
arising out of or relating to this Amendment, or for recognition or enforcement
of any judgment, and each of the parties hereto hereby irrevocably and
unconditionally agrees that all claims in respect of any such action or
proceeding may be heard and determined in such New York State court or, to the
extent permitted by law, in such Federal court. Each of the parties hereto
agrees that a final judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or
in any other manner provided by law. Nothing in this Amendment shall affect any
right that the Administrative Agent, any Issuing Bank or any Lender may
otherwise have to bring any action or proceeding relating to this Amendment
against the Borrower or its properties in the courts of any jurisdiction.

8. Headings. Section headings used in this Amendment are for convenience of
reference only, are not part of this Amendment and shall not affect the
construction of, or be taken into consideration in interpreting, this Amendment.

9. Counterparts. This Amendment may be executed by one or more of the parties
hereto on any number of separate counterparts, and all of said counterparts
taken together shall be deemed to constitute one and the same instrument.
Delivery of an executed counterpart of a signature page to this Agreement by fax
or other electronic transmission (including, without limitation, PDF) shall be
effective as delivery of a manually executed counterpart of this Agreement.

[Signature Pages Follow]

 

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IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year
first above written.

 

C.R. BARD, INC.,

as the Borrower

By:   /s/ Christopher S. Holland Name: Christopher S. Holland

Title: Senior Vice President and Chief Financial

Officer

By:   /s/ Scott T. Lowry Name: Scott T. Lowry Title: Vice President and
Treasurer

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of October 12, 2011

C. R. Bard, Inc.

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JPMORGAN CHASE BANK, N.A.,

individually as a Lender, as the Issuing Bank and as

Administrative Agent

By:   /s/ James A. Knight Name: James A. Knight Title: Vice President

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of October 12, 2011

C. R. Bard, Inc.

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BANK OF AMERICA, N.A.,

individually as a Lender and as Syndication Agent

By:   /s/ David J. Bardwil Name: David J. Bardwil Title: SVP

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of October 12, 2011

C. R. Bard, Inc.

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WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender By:   /s/ Monique Gasque
Name: Monique Gasque Title: Vice President

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of October 12, 2011

C. R. Bard, Inc.

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GOLDMAN SACHS BANK USA,

as a Lender

By:   /s/ Mark Walton Name: Mark Walton Title: Authorized Signatory

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of October 12, 2011

C. R. Bard, Inc.

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BARCLAYS BANK PLC,

as a Lender

By:   /s/ Christopher R. Lee Name: Christopher R. Lee Title: Assistant Vice
President

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of October 12, 2011

C. R. Bard, Inc.

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ROYAL BANK OF CANADA,

as a Lender

By:   /s/ Scott MacVicar Name: Scott MacVicar Title: Authorized Signatory

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of October 12, 2011

C. R. Bard, Inc.

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TD BANK, N.A.,

as a Lender

By:   /s/ Todd Antico Name: Todd Antico Title: Senior Vice President

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of October 12, 2011

C. R. Bard, Inc.

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THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,

as a Lender

By:   /s/ B. McNany Name:   B. McNany Title:   Vice President

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of October 12, 2011

C. R. Bard, Inc.

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U.S. BANK NATIONAL ASSOCIATION,

as a Lender

By:   /s/ Jennifer Hwang Name:   Jennifer Hwang Title:   Vice President

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of October 12, 2011

C. R. Bard, Inc.

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SOVEREIGN BANK, N.A.

as a Lender

By:   /s/ William R. Rogers Name:   William R. Rogers Title:   Senior Vice
President

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of October 12, 2011

C. R. Bard, Inc.

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HSBC BANK USA, NATIONAL ASSOCIATION,

as a Lender

By:   /s/ Robert Moravec Name:   Robert Moravec Title:   Sr. Relationship
Manager

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of October 12, 2011

C. R. Bard, Inc.

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The undersigned Departing Lender hereby acknowledges and agrees that, form and
after the Amendment No. 1 Effective Date, it is no longer a party to the Credit
Agreement

PNC BANK, NATIONAL ASSOCIATION,

as a Departing Lender

By:   /s/ Edward M. Tessalone Name:   Edward M. Tessalone Title:   Senior Vice
President PNC Bank, N.A.

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of October 12, 2011

C. R. Bard, Inc.

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The undersigned Departing Lender hereby acknowledges and agrees that, from and
after the Amendment No. 1 Effective Date, it is no longer a party to the Credit
Agreement

THE ROYAL BANK OF SCOTLAND PLC,

as a Departing Lender

By:   /s/ William McGinty Name:   William McGinty Title:   Director

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of October 12, 2011

C. R. Bard, Inc.

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The undersigned Departing Lender hereby acknowledges and agrees that, form and
after the Amendment No. 1 Effective Date, it is no longer a party to the Credit
Agreement

SUNTRUST BANK,

as a Departing Lender

By:   /s/ John Cappellari Name:   John Cappellari Title:   Director

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of October 12, 2011

C. R. Bard, Inc.

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The undersigned Departing Lender hereby acknowledges and agrees that, from and
after the Amendment No. 1 Effective Date, it is no longer a party to the Credit
Agreement

BANCA MONTE DEI PASCHI DI SIENA S.P.A.,

as a Departing Lender

By:   /s/ Enrico Vignoli Name:   Enrico Vignoli Title:   Senior Vice President &
General Manager By:   /s/ Victor DiIorio Name:   Victor DiIorio Title:   VP &
Credit Manager

 

Signature Page to Amendment No. 1 to

Credit Agreement dated as of October 12, 2011

C. R. Bard, Inc.

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SCHEDULE 1.01

Commitments

 

Name of Lender

   Commitment ($)  

JPMorgan Chase Bank, N.A.

   $ 116,250,000   

Bank of America, N.A.

   $ 116,250,000   

Wells Fargo Bank, National Association

   $ 62,500,000   

Goldman Sachs Bank USA

   $ 62,500,000   

Barclays Bank PLC

   $ 62,500,000   

Royal Bank of Canada

   $ 62,500,000   

TD Bank, N.A.

   $ 62,500,000   

The Bank of Tokyo-Mitsubishi UFJ, Ltd.

   $ 62,500,000   

U.S. Bank National Association

   $ 62,500,000   

Sovereign Bank, N.A.

   $ 40,000,000   

HSBC Bank USA, National Association

   $ 40,000,000   

Total:

   $ 750,000,000