Exhibit 10.43

 

SECOND AMENDMENT TO AMENDED
AND RESTATED CREDIT AGREEMENT

 

Dated as of December 9, 2004

 

among

 

WILLIS LEASE FINANCE CORPORATION,
as Borrower,

 

CERTAIN BANKING INSTITUTIONS NAMED HEREIN,

 

NATIONAL CITY BANK,
as Administrative Agent,

 

and

 

FORTIS BANK (NEDERLAND) N.V.,
as Structuring Agent and Security Agent,

 

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Vedder, Price, Kaufman & Kammholz
Chicago, Illinois

 

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SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

 

THIS SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT, dated as of
December 9, 2004 (this “Amendment”), is entered into by and among WILLIS LEASE
FINANCE CORPORATION, a Delaware corporation (the “Borrower”), the banking
institutions signatories hereto and named in Exhibit A attached hereto and such
other institutions that hereafter become a “Bank” pursuant to Section 11.4 of
the Agreement (as defined below) (collectively the “Banks” and individually a
“Bank”), NATIONAL CITY BANK, as Administrative Agent and FORTIS BANK (NEDERLAND)
N.V., as Security Agent and Structuring Agent.

 

RECITALS

 

WHEREAS, the Borrower, the Administrative Agent, the Structuring Agent, and the
Security Agent (in their respective capacities as Agents and as Banks) and the
Banks have entered into that certain Amended and Restated Credit Agreement dated
as of June 29, 2004 (the “Original Agreement”), as amended by the First
Amendment to Amended and Restated Credit Agreement dated as of September 24,
2004 (the “First Amendment”; the Original Agreement as amended by the First
Amendment is referred to as the “Agreement”) pursuant to which the Banks have
agreed to make available to the Borrower a revolving credit facility used for
the purchase or refinance of Engines and Equipment;

 

WHEREAS, Kaupthing Bank has agreed to commit the amount of Ten Million Dollars
(US$10,000,000) towards the Aggregate Revolving Loan Commitment, as set forth
herein;

 

WHEREAS, the amount of the Aggregate Revolving Loan Commitment will be increased
to One Hundred Forty Eight Million Five Hundred Thousand Dollars
(US$148,500,000);

 

WHEREAS, all of the Banks have approved such increase; and

 

WHEREAS, CDC Finance – CDC IXIS, a corporation organized and existing under the
laws of the Republic of France (“CDC IXIS”), desires to assign its Revolving
Loan Commitment.

 

NOW, THEREFORE, in consideration of the premises and promises hereinafter set
forth and intending to be legally bound hereby, the parties hereto agree as
follows:

 

AGREEMENT

 

Section 1.                                            Definitions.  Terms not
defined herein shall have the meanings ascribed thereto in the Agreement.

 

Section 2.                                            Exhibits.  Exhibit A to
the Agreement is hereby deleted in its entirety and replaced with Exhibit A
attached hereto.

 

Section 3.                                            Assignment.  The Borrower
and the Structuring Agent hereby consent for the purposes of Section 11.4 of the
Agreement (and as previously described in Section 2 of the

 

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First Amendment) to CDC IXIS’s assignment of its Revolving Loan Commitment in
the amount of US$10,000,000 to IXIS Corporate & Investment Bank, a company
incorporated in France whose registered office is at 47 Quai d’Austerlitz, 75648
Paris Cedex 13, France, effective as of the date hereof.

 

Section 4.                                            Ratification.  Except as
amended hereby, the Agreement, as heretofore supplemented, amended, assigned and
modified shall continue and shall remain in full force and effect and is hereby
ratified in all respects.  From and after the date hereof, any and all
references to the “Agreement” shall be deemed to refer to the Agreement as
amended hereby.

 

Section 5.                                            Governing Law;
Severability; Construction of Amendment.  THIS AMENDMENT SHALL BE GOVERNED BY
AND BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
CALIFORNIA, WITHOUT REGARD TO CALIFORNIA OR FEDERAL PRINCIPLES OF CONFLICTS OF
LAWS.  To the extent permitted by applicable law, the parties hereby waive any
provision of law which renders any provision hereof prohibited or unenforceable
in any respect.  Otherwise, any provision of this Amendment which is prohibited
or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability, without
invalidating any of the remaining provisions hereof, and any such prohibition or
unenforceability in any one or more jurisdictions shall not invalidate or render
unenforceable such provisions in other jurisdictions.

 

Section 6.                                            Counterparts;
Effectiveness.  This Amendment may be signed in any number of counterparts, each
of which shall be an original, with the same effect as if the signatures thereto
and hereto were upon the same instrument.  This Amendment shall become effective
when the Administrative Agent shall have received signed counterparts or notice
by fax of the signature page that the counterpart has been signed and is being
delivered to it or by facsimile that such counterparts have been signed by all
the parties hereto or thereto.

 

Section 7.                                            Headings.  All
section headings contained herein are for convenience of reference only and are
not intended to define or limit the scope of any provision of this Amendment.

 

Section 8.                                            Representations and
Warranties.  The Borrower hereby represents and warrants to each of the other
parties hereto that (i) this Amendment has been duly authorized, executed and
delivered by it and (ii) this Amendment constitutes its legal, valid and binding
obligation, enforceable against it in accordance with its terms.

 

*    *    *

 

2

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IN WITNESS WHEREOF, the parties hereto have each caused this Amendment to be
duly executed by their duly authorized representatives as of the date first
above written.

 

 

WILLIS LEASE FINANCE CORPORATION

 

 

 

 

 

By

/s/ Monica J. Burke

 

 

 

Name:

Monica J. Burke

 

 

Title:

Executive Vice President
Chief Financial Officer

 

Notices to:

 

2320 Marinship Way

Suite 300

Sausalito, CA  94965

Fax No. (415) 331-5167

Attention:  General Counsel

Email: tnord@willislease.com

 

3

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NATIONAL CITY BANK,

 

as Administrative Agent

 

 

 

By

/s/ Christos Kytzidis

 

 

 

Name:

Christos Kytzidis

 

 

Title:

Vice President

 

Notices To:

 

Christos Kytzidis

Vice President

National City Bank

One South Broad

14th Floor, Locator 01-5997

Philadelphia, PA 19107

Telephone:  267-256-4092

Facsimile:  267-256-4001

Email:  chris.kytzidis@nationalcity.com

 

With a copy to:

 

Scott Lankford

Sr. Loan Administrator

National City Bank

1900 East Ninth Street

Cleveland, Ohio 44114

 

4

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NATIONAL CITY BANK  

 

 

 

 

 

By

/s/ Christos Kytzidis

 

 

 

Name:

Christos Kytzidis

 

 

Title:

Vice President

 

Notices To:

 

Christos Kytzidis

Vice President

National City Bank

One South Broad

14th Floor, Locator 01-5997

Philadelphia, PA 19107

Telephone:  267-256-4092

Facsimile:  267-256-4001

Email:  chris.kytzidis@nationalcity.com

 

With a copy to:

 

Scott Lankford

Sr. Loan Administrator

National City Bank

1900 East Ninth Street

Cleveland, Ohio 44114

 

5

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FORTIS BANK (NEDERLAND) N.V.,

 

as Structuring Agent

 

 

 

By

/s/ P.R.G. Zaman
/s/ M.P.A. Zondag

 

 

 

Name:

P.R.G. Zaman

 

 

Title:

 

 

 

Name:

M.P.A. Zondag

 

 

Title:

 

 

Notices To:

 

Fortis Bank (Nederland) N.V.

Coolsingel 93

3012 AE Rotterdam

The Netherlands

Attention:  Maarten H. Schipper

Telephone:  31 10 401 9522

Facsimile:  31 10 401 9529

 

With a copy to:

 

Vedder, Price, Kaufman & Kammholz, P.C.

Attention:  Lynne A. Gochanour

222 North LaSalle Street

Suite 2600

Chicago, Illinois  60601

Telephone:  312-609-7500
Facsimile:  312-609-5005

 

6

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FORTIS BANK (NEDERLAND) N.V.,

 

as Security Agent

 

 

 

By

/s/ P.R.G. Zaman
/s/ M.P.A. Zondag

 

 

 

Name:

P.R.G. Zaman

 

 

Title:

 

 

 

Name:

M.P.A. Zondag

 

 

Title:

 

 

Notices To:

 

Fortis Bank (Nederland) N.V.

Coolsingel 93

3012 AE Rotterdam

The Netherlands

Attention:  Maarten H. Schipper

Telephone:  31 10 401 9522

Facsimile:  31 10 401 9529

 

With a copy to:

 

Vedder, Price, Kaufman & Kammholz, P.C.

Attention:  Lynne A. Gochanour

222 North LaSalle Street

Suite 2600

Chicago, Illinois  60601

Telephone:  312-609-7500

Facsimile:  312-609-5005

 

7

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FORTIS BANK (NEDERLAND) N.V.,

 

 

 

By

/s/ P.R.G. Zaman
/s/ M.P.A. Zondag

 

 

 

Name:

P.R.G. Zaman

 

 

 

Title:

 

 

 

 

Name:

M.P.A. Zondag

 

 

 

Title:

 

 

 

Notices To:

 

Fortis Bank (Nederland) N.V.

Coolsingel 93

3012 AE Rotterdam

The Netherlands

Attention:  Maarten H. Schipper

Telephone:  31 10 401 9522

Facsimile:  31 10 401 9529

 

With a copy to:

 

Vedder, Price, Kaufman & Kammholz, P.C.

Attention:  Lynne A. Gochanour

222 North LaSalle Street

Suite 2600

Chicago, Illinois  60601

Telephone:  312-609-7500

Facsimile:  312-609-5005

 

8

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CALIFORNIA BANK AND TRUST

 

 

 

 

 

By

/s/ J. Michael Sullivan

 

 

 

Name:

J. Michael Sullivan

 

 

Title:

Vice President

 

Notices To:

 

J. Michael Sullivan

Vice President

California Bank & Trust

South Bay Corporate Banking Office

1690 South El Camino Real

San Mateo, CA  94402

Telephone:  650-294-2026

Facsimile:  650-294-2029

Email: sullivanm@calbt.com

 

With a copy to:

 

Loan Administrator

California Bank & Trust

San Francisco Corporate Banking Office

465 California Street, 1st Floor

San Francisco, CA  94104

Telephone:  415-875-1441

Facsimile:  415-875-1457

 

9

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CITY NATIONAL BANK

 

 

 

 

 

By

/s/ Nanci Brusati Dias

 

 

 

 

Name:

Nanci Brusati Dias

 

 

Title:

Senior Vice President

 

Notices To:

 

Nanci Brusati-Dias, Senior Vice President

City National Bank – San Francisco CBC

150 California Street, 12th Floor

San Francisco, CA  94111

Telephone:  415-576-2801

Facsimile:  415-576-3961

Email: nanci.dias@cnb.com

 

10

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WELLS FARGO BANK, NATIONAL
ASSOCIATION

 

 

 

 

 

By

/s/ Peter Hsu

 

 

 

 

Name:

Peter Hsu

 

 

Title:

Vice President

 

Notices To:

 

Wells Fargo Bank, National Association

200 B Street, Suite 300

Santa Rosa, CA  95401

Telephone:  707-584-3142

Facsimile:  707-584-3235

Email:  peter.r.hsu@wellsfargo.com

 

11

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HSH NORDBANK

 

 

 

 

 

 

By

/s/ Jack Campbell

 

 

Name:

  Jack Campbell

 

 

Title:

  Senior Vice President

 

 

 

  Head of Transportation Americas

 

By

/s/ Hari Raghavan

 

 

Name:

Hari Raghavan

 

 

Title:

Vice President

 

 

 

Transportation

 

Notices To:

 

 

HSH Nordbank

590 Madison Avenue

New York, NY  10022-2540

Telephone:  212-407-6000

Facsimile:  212-407-6033

Email:

hari.raghavan@hsh-nordbank.com

 

 and eric.dollman@hsh-nordbank.com

 

12

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STATE BANK OF INDIA ( LOS ANGELES AGENCY)

 

 

 

 

 

 

By

/s/ Sunil K Kowshal

 

 

Name:

Sunil K Kowshal

 

 

Title:

VP & Manager

 

Notices To:

 

 

State Bank of India

Los Angeles Agency

707 Wilshire Boulevard, Suite 1995

Los Angeles, California  90017

Telephone:  213-623-7250

Facsimile:  213-622-2069

Email:

ravi@sbical.com

 

sbilaa@yahoo.com

 

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STATE BANK OF INDIA
(CALIFORNIA)

 

 

 

 

By

/s/ Soundara Kumar

 

 

Name:

   Soundara Kumar

 

 

Title:

   Chief Executive Officer

 

Notices To:

 

State Bank of India (California)

707 Wilshire Boulevard, Suite 1995

Los Angeles, California  90017

Telephone:  213-623-7250

Facsimile:  213-622-2069

Email:

ravi@sbical.com

 

sbilaa@yahoo.com

 

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IXIS CORPORATE & INVESTMENT
BANK (as successor in interest to CDC
Finance – CDC IXIS)

 

 

 

 

 

 

 

 

 

By

/s/ Henri Malick

 

 

Name:  Henri MALICK

 

 

Title:    Managing Director for Financing Activities

 

Notices To:

 

Jean-Michel Chatel

Bank Offices Loans and Structured Finance Manager

IXIS CORPORATE & INVESTMENT

BANK

26-28 Rue Neuve Tolbiac

75658 Paris Cedex 13

France

Telephone:  +33 1 58 55 60 71

Facsimile:  +33 1 58 55 60 82

Email:  jmchatel@ixis-cib.com

 

15

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KAUPTHING BANK

 

 

 

 

 

 

 

By

/s/ Bjarki H Diego

 

 

Name:

Bjarki H Diego

 

 

Title:

Managing Director

 

 

 

Corporate Banking

 

By

/s/ Byörk Thorarinsdottir

 

 

Name:

Byörk Thorarinsdottir

 

 

Title:

Deputy Managing Director

 

 

 

Corporate Banking

 

Notices To:

 

Asthildur Otharsdottir

Kaupthing Bunadarbanki hf.

Corporate Banking

Borgartuni 19 – IS 105 Reykjavik – Iceland

Telephone:  (+354) 444 6544

Facsimile:    (+354) 444 6589

Email:    amo@kbbanki.is

 

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EXHIBIT A

 

BANKS’ REVOLVING LOAN COMMITMENTS AND PERCENTAGES

 

 

 

Revolving
Loan Commitment

 

Revolving
Loan Commitment Percentage

 

Closing
Fee

 

 

 

Fortis Bank (Agent)

 

30,000,000

 

20.2020

%

0.004

 

120,000

 

National City Bank (Agent)

 

30,000,000

 

20.2020

%

0.004

 

110,000

 

California Bank & Trust

 

20,000,000

 

13.4680

%

0.004

 

80,000

 

Wells Fargo Bank

 

15,500,000

 

10.4377

%

0.004

 

62,000

 

HSH Nordbank

 

15,000,000

 

10.1010

%

0.0025

 

37,500

 

City National Bank

 

10,000,000

 

6.7340

%

0.0025

 

25,000

 

CDC Finance – CDC IXIS

 

10,000,000

 

6.7340

%

0.0025

 

25,000

 

Kaupthing Bank

 

10,000,000

 

6.7340

%

0.0025

 

25,000

 

State Bank of India – Los Angeles Agency

 

5,000,000

 

3.3670

%

0.0025

 

12,500

 

State Bank of India (California)

 

3,000,000

 

2.0202

%

0.0025

 

7,500

 

 

 

 

 

 

 

 

 

 

 

TOTAL

 

$

148,500,000

 

100

%

 

 

$

504,500

 

 

1

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