Exhibit 10.2

 

EXECUTION VERSION

FIRST AMENDMENT

First Amendment, dated as of April 8, 2013 (this “Amendment”), to the Credit
Agreement dated as of September 10, 2012 (as amended, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among TOTAL SYSTEM
SERVICES, INC. (the “Borrower”), the several lenders from time to time party
thereto (the “Lenders”), JPMORGAN CHASE BANK, N.A., as administrative agent (in
such capacity, the “Administrative Agent”) and the other agents party thereto.

W I T N E S S E T H:

WHEREAS, the Borrower, the Lenders and the Administrative Agent are parties to
the Credit Agreement, and the Borrower has requested that the Credit Agreement
be amended as set forth herein;

WHEREAS, as permitted by Section 10.01 of the Credit Agreement, the Required
Lenders and the Administrative Agent are willing to agree to this Amendment upon
the terms and conditions set forth herein;

NOW, THEREFORE, in consideration of the premises contained herein, the parties
hereto agree as follows:

SECTION 1.    Defined Terms.  Unless otherwise defined herein, capitalized terms
are used herein as defined in the Credit Agreement as amended hereby.

SECTION 2.    Amendment to Section 1.01 (Defined Terms). Section 1.01 of the
Credit Agreement is hereby amended by deleting “5.0%” and inserting “7.5%” in
the definition of “Consolidated EBITDA”.

SECTION 3.    Amendment to Section 1.03 (Accounting Terms). Section 1.03(a) of
the Credit Agreement is hereby amended by (1) inserting “and Calculations” in
the Section heading immediately after “Accounting Terms”, and (2) inserting the
following language at the end of subsection (a):

“For the avoidance of doubt, for purposes of calculating any financial ratio as
used in the financial covenants set forth in Section 7.09, if at any time during
the applicable Measurement Period for such financial covenant, the Borrower or
any Subsidiary shall have consummated the Acquisition or other purchase or
acquisition (including through a merger or consolidation) of all of (or, to the
extent the applicable Person becomes a Subsidiary, a majority of) the equity
interests of another Person or all or substantially all of the property, assets
or business of another Person or of the assets constituting a business unit,
line of business or division of another Person, then such financial ratio shall
be determined after giving pro forma effect to the Acquisition or other purchase
or acquisition (including any Consolidated EBITDA, Consolidated EBITDAR,
Indebtedness, Consolidated Interest Charges or Rental Expenses acquired,
incurred or assumed in connection therewith) as if such transaction had occurred
on the first day of such Measurement Period.”

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SECTION 4.    Amendment to Section 7.01 (Liens).  Section 7.01(a) of the Credit
Agreement is hereby amended by (1) deleting “or” at the end of subsection
(v) thereof, (2) inserting “or” at the end of subsection (vi) thereof, and
(3) inserting the following new subsection (vii) immediately after subsection
(vi):

“(vii) a Negative Pledge contained in any agreement evidencing or governing
Indebtedness (including credit facilities and debt securities) otherwise
permitted to be incurred under this Agreement, so long as the Borrower
determines in good faith (after consultation with the Administrative Agent) that
such Negative Pledge, taken as a whole, is no more restrictive in any material
respect than the restrictions in Section 7.01(b), or that such Negative Pledge
is otherwise in a form customary for similar agreements for comparable borrowers
or issuers at such time; and”

SECTION 5.    Amendment to Schedule 10.02.  The U.S. taxpayer identification
number of the Borrower listed on Schedule 10.02 is hereby replaced by the
following U.S. taxpayer identification number: 58-1493818.

SECTION 6.    Representations and Warranties.  On and as of the date hereof, the
Borrower hereby confirms and reaffirms that, after giving effect to this
Amendment, (i) each of the representations and warranties set forth in Article V
of the Credit Agreement are true and correct in all material respects on and as
of the date hereof (except to the extent that any such representation or
warranty expressly relates to a specified earlier date, in which case such
representation or warranty shall be true and correct in all material respects as
of such earlier date) and (ii) no Default or Event of Default shall have
occurred and be continuing.

SECTION 7.    Condition to Effectiveness.  This Amendment shall become effective
on the date on which the Administrative Agent (or its counsel) shall have
received from the Borrower, the Administrative Agent and the Required Lenders
either a counterpart of this Amendment signed on behalf of such party or written
evidence satisfactory to the Administrative Agent (which may include telecopy or
other electronic transmission of a signed signature page of this Amendment) that
such party has signed a counterpart of this Amendment.

SECTION 8.    Continuing Effect; No Other Amendments or Consents.

(a)      Except as expressly provided herein, all of the terms and provisions of
the Credit Agreement are and shall remain in full force and effect. The
amendment provided for herein is limited to the specific subsection of the
Credit Agreement specified herein and shall not constitute a consent, waiver or
amendment of, or an indication of the Administrative Agent’s or the Lenders’
willingness to consent to any action requiring consent under any other
provisions of the Credit Agreement or the same subsection for any other date or
time period. Upon the effectiveness of the amendment set forth herein, each
reference in the Credit Agreement to “this Agreement,” “the Agreement,”
“hereunder,” “hereof” or words of like import referring to the Credit Agreement,
and each reference in the other Loan Documents to “Credit Agreement,”
“thereunder,” “thereof” or words of like import referring to the Credit
Agreement, shall mean and be a reference to the Credit Agreement as amended
hereby.

(b)      The Borrower agrees with respect to each Loan Document to which it is a
party that all of its obligations and liabilities under such Loan Document shall
remain in full force and effect on a continuous basis in accordance with the
terms and conditions of such Loan Document after giving effect to this
Amendment.

(c)      The Borrower and the other parties hereto acknowledge and agree that
this Amendment shall constitute a Loan Document.

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SECTION 9.    Expenses.  The Borrower agrees to pay or reimburse the
Administrative Agent for all its reasonable out-of-pocket costs and expenses
incurred in connection with the development, preparation and execution of this
Amendment, and any other documents prepared in connection herewith and the
consummation and administration of the transactions contemplated hereby,
including, without limitation, the reasonable fees and disbursements of counsel
to the Administrative Agent.

SECTION 10.  Counterparts.  This Amendment may be executed in any number of
counterparts by the parties hereto (including by facsimile and electronic (e.g.,
“.pdf”, or “.tif”) transmission), each of which counterparts when so executed
shall be an original, but all the counterparts shall together constitute one and
the same instrument.

SECTION 11.  GOVERNING LAW.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 

[Remainder of page intentionally left blank.]

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IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed
and delivered by their proper and duly authorized officers as of the day and
year first above written.

 

TOTAL SYSTEM SERVICES, INC., as Borrower

By:   /s/ James B. Cosgrove   Name: James B. Cosgrove   Title: Group Executive &
Treasurer

 

[Signature Page to First Amendment]

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JPMORGAN CHASE BANK, N.A.,

as Administrative Agent and as a Lender

By:   /s/ Robert D. Bryant   Name: Robert D. Bryant   Title: Vice President

 

[Signature Page to First Amendment]

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

a Lender

By:   /s/ Lillian Kim   Name: Lillian Kim   Title: Director

 

[Signature Page to First Amendment]

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  REGIONS BANK, as a Lender   By:   /s/ Donald Dalton     Name: Donald Dalton  
  Title: Executive Vice President                  

FOR LENDERS REQUIRING A

SECOND SIGNATURE LINE:

              By:         Name:     Title:  

 

[Signature Page to First Amendment]

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U.S. BANK, NATIONAL ASSOCIATION, as a Lender By:   /s/ Robert C. Mayer, Jr.  
Name: Robert C. Mayer, Jr.   Title: Vice President        

FOR LENDERS REQUIRING A

SECOND SIGNATURE LINE:

      By:       Name:   Title:

 

[Signature Page to First Amendment]

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SYNOVUS BANK, as a Lender By:   Jason E. Gaylor   Name: Jason E. Gaylor   Title:
SVP

 

[Signature Page to First Amendment]

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FIFTH THIRD BANK, as a Lender By:   /s/ Kenneth W. Deere   Name: Kenneth W.
Deere   Title: Senior Vice President        

FOR LENDERS REQUIRING A

SECOND SIGNATURE LINE:

      By:       Name:   Title:

 

[Signature Page to First Amendment]

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ROYAL BANK OF CANADA,

as a Lender

By:   /s/ Sheldon Pinto   Name: Sheldon Pinto   Title: Authorized Signatory

 

[Signature Page to First Amendment]

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WELLS FARGO BANK, NATIONAL ASSOCIATION,

as a Lender

By:   /s/ Brian Buck   Name: Brian Buck   Title: Director

 

[Signature Page to First Amendment]

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BANK OF AMERICA, N.A.,

as a Lender

By:   /s/ Hichem Kerma   Name: Hichem Kerma   Title: Director

 

[Signature Page to First Amendment]