Exhibit 10.1

 

FIRST AMENDMENT TO

AMENDED AND RESTATED

CREDIT AGREEMENT

 

THIS FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this
“Amendment”), dated as of September 30, 2004, is by and among THE PANTRY, INC.,
a Delaware corporation, (the “Borrower”), those Domestic Subsidiaries of the
Borrower identified as a “Guarantor” on the signature pages hereto (individually
a “Guarantor” and collectively the “Guarantors”), the Lenders party hereto, and
WACHOVIA BANK, NATIONAL ASSOCIATION, as administrative agent for the Lenders (in
such capacity, the “Administrative Agent”).

 

W I T N E S S E T H

 

WHEREAS, the Borrower, the Guarantors, the several banks and other financial
institutions as may from time to time become parties thereto (individually a
“Lender” and collectively the “Lenders”), and the Administrative Agent have
entered into that certain Amended and Restated Credit Agreement dated as of
March 12, 2004 (as amended, modified, supplemented or restated from time to
time, the “Credit Agreement”);

 

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

 

WHEREAS, the Term Loan Lenders and the Required Lenders have agreed to such
amendments subject to the terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration of the agreements hereinafter set forth, and
for other good and valuable consideration, the receipt and adequacy of which are
hereby acknowledged, the parties hereto agree as follows:

 

ARTICLE I

AMENDMENTS TO CREDIT AGREEMENT

 

1.1 Amendment to Definition of Applicable Margin. The definition of “Applicable
Margin” in Section 1.1 of the Credit Agreement is hereby amended and restated in
its entirety to read as follows:

 

“Applicable Margin” shall mean for (a) Revolving Loans that are Alternate Base
Rate Loans, 1.50%, (b) Revolving Loans that are LIBOR Rate Loans, 2.75%, (c) the
portion of the Term Loan consisting of Alternate Base Rate Loans, 1.00%, (d) the
portion of the Term Loan consisting of LIBOR Rate Loans, 2.25%, and (e) the
Commitment Fee, 0.75%.

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1.2 Definition of First Amendment Effective Date. A new definition of “First
Amendment Effective Date” is hereby added to Section 1.1 of the Credit Agreement
to read as follows:

 

“First Amendment Effective Date” shall mean September 30, 2004.

 

1.3 Incremental Facilities. The aggregate amount of Incremental Facilities as
permitted in the first sentence of Section 2.3 of the Credit Agreement is hereby
increased to $75,000,000.

 

1.4 Prepayments.

 

(a) The fourth sentence in Section 2.8(a) of the Credit Agreement is hereby
amended and restated in its entirety to read as follows:

 

All prepayments under this Section 2.8(a) shall be subject to Section 2.18, but
otherwise without premium or penalty; provided that any refinancing of the
outstanding Term Loan with the proceeds of a replacement term loan on
substantially the same terms to effect a reduction in the Applicable Margin for
the Term Loan (A) during the first year following the First Amendment Effective
Date shall be made at 101% of par; provided further that, if during such first
year following the First Amendment Effective Date the Borrower’s senior secured
debt rating is upgraded to Ba3 or better by Moody’s and to BB- or better by S&P,
such prepayment shall be made at par, and (B) thereafter shall be made at par
(the “Call Protection”).

 

(b) Section 2.8(b)(iii) of the Credit Agreement is hereby amended and restated
in its entirety to read as follows:

 

(iii) Issuances. Immediately upon receipt by any Credit Party of proceeds from
(A) any Debt Issuance, the Borrower shall prepay the Loans in an aggregate
amount equal to (1) if such Debt Issuance is made pursuant to Section 6.1(g),
fifty percent (50%) of the Net Cash Proceeds of such Debt Issuance and (2) if
such Debt Issuance is any other Debt Issuance, one hundred percent (100%) of the
Net Cash Proceeds of such Debt Issuance (each such prepayment to be applied as
set forth in clause (vi) below), or (B) any Equity Issuance, the Borrower shall
prepay the Loans and/or cash collateralize the LOC Obligations in an aggregate
amount equal to fifty percent (50%) of the Net Cash Proceeds of such Equity
Issuance (such prepayment to be applied as set forth in clause (vi) below);
provided, however, that so long as no Default or Event of Default has occurred
and is continuing, the amount of the Net Cash Proceeds from any Equity Issuance
that is required to be prepaid pursuant to the terms of this Section 2.8(b)(iii)
shall not be required to be so applied to the extent the Borrower delivers to
the Administrative Agent a certificate stating that the Borrower intends to use
such Net Cash Proceeds for one or more Permitted Acquisitions within 270 days of
the receipt of such Net Cash Proceeds and the Borrower delivers such portion of
the Net Cash Proceeds to the Administrative Agent to be held in the Collateral
Account until such

 

2

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Permitted Acquisition(s) are consummated, it being expressly agreed that (x) any
Net Cash Proceeds being held in the Collateral Account that are not so
reinvested by the end of the applicable period (or such extended period of time
as necessary to consummate such Permitted Acquisition(s) if a Credit Party has
executed a letter of intent or purchase agreement with respect to such Permitted
Acquisition(s)) shall be applied to repay the Loans and/or cash collateralize
the LOC Obligations immediately thereafter and (y) to the extent any such Net
Cash Proceeds are held in the Collateral Account after the end of the applicable
period because a Credit Party has executed a letter of intent or purchase
agreement with respect to such Permitted Acquisition(s) and such letter of
intent or purchase agreement is terminated or such Permitted Acquisition(s)
fail, such Net Cash Proceeds shall be applied to repay the Loans and/or cash
collateralize the LOC Obligations immediately thereafter.

 

(c) The third sentence in Section 2.8(b)(vi) of the Credit Agreement is hereby
amended and restated in its entirety to read as follows:

 

All prepayments under this Section 2.8(b) shall be subject to Section 2.18 and
be accompanied by interest on the principal amount prepaid through the date of
prepayment, and any mandatory prepayment made, in whole or in part, with respect
to any refinancing of the outstanding Term Loan with the proceeds of a
replacement term loan on substantially the same terms to effect a reduction in
the Applicable Margin for the Term Loan shall be subject to Call Protection.

 

ARTICLE II

CONDITIONS TO EFFECTIVENESS

 

2.1 Closing Conditions.

 

This Amendment shall become effective as of the date first above written upon
satisfaction of the following conditions (in form and substance reasonably
acceptable to the Administrative Agent):

 

(a) Executed Amendment. Receipt by the Administrative Agent of a copy of this
Amendment duly executed by each of the Credit Parties, the Term Loan Lenders and
the Required Lenders.

 

(b) Fees. Receipt by the Administrative Agent of all fees and expenses of the
Administrative Agent in connection with the arrangement, preparation, execution
and delivery of this Amendment, including, without limitation, the fees and
expenses of Moore & Van Allen PLLC.

 

3

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ARTICLE III

MISCELLANEOUS

 

3.1 Amended Terms. All references to the Credit Agreement in each of the Credit
Documents shall hereafter mean the Credit Agreement as amended by this
Amendment. Except as specifically amended hereby or otherwise agreed, the Credit
Agreement is hereby ratified and confirmed and shall remain in full force and
effect according to its terms. The amendments to the Credit Agreement set forth
in this Amendment shall be effective from and after the date of this Amendment
and shall not be applied retroactively.

 

3.2 Representations and Warranties of Credit Parties. Each of the Credit Parties
represents and warrants as follows:

 

(a) It has taken all necessary action to authorize the execution, delivery and
performance of this Amendment.

 

(b) This Amendment has been duly executed and delivered by such Person and
constitutes such Person’s legal, valid and binding obligations, enforceable in
accordance with its terms, except as such enforceability may be subject to (i)
bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer,
moratorium or similar laws affecting creditors’ rights generally and (ii)
general principles of equity (regardless of whether such enforceability is
considered in a proceeding at law or in equity).

 

(c) No consent, approval, authorization or order of, or filing, registration or
qualification with, any court or governmental authority or third party is
required in connection with the execution, delivery or performance by such
Person of this Amendment.

 

(d) The representations and warranties set forth in Article III of the Credit
Agreement are true and correct in all material respects as of the date hereof
(except for those which expressly relate to an earlier date).

 

(e) No Default or Event of Default exists before are after giving effect to this
Amendment.

 

3.3 Acknowledgment of Guarantors. The Guarantors acknowledge and consent to all
of the terms and conditions of this Amendment and agree that this Amendment and
all documents executed in connection herewith do not operate to reduce or
discharge the Guarantors’ obligations under the Credit Documents.

 

3.4 Credit Document. This Amendment shall constitute a Credit Document under the
terms of the Credit Agreement.

 

4

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3.5 Entirety. This Amendment and the other Credit Documents embody the entire
agreement between the parties hereto and supersede all prior agreements and
understandings, oral or written, if any, relating to the subject matter hereof.

 

3.6 Counterparts; Telecopy. This Amendment may be executed in any number of
counterparts, each of which when so executed and delivered shall be an original,
but all of which shall constitute one and the same instrument. Delivery of an
executed counterpart to this Amendment by telecopy shall be effective as an
original and shall constitute a representation that an original will be
delivered.

 

3.7 GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. EACH OF THE CREDIT PARTIES
AGREES THAT SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE
STATE OF NEW YORK SHALL APPLY TO THIS CREDIT AGREEMENT AND THE OTHER CREDIT
DOCUMENTS.

 

3.8 Consent to Jurisdiction; Service of Process; Waiver of Jury Trial. The
jurisdiction, services of process and waiver of jury trial provisions set forth
in Sections 9.14 and 9.17 of the Credit Agreement are hereby incorporated by
reference, mutatis mutandis.

 

5

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IN WITNESS WHEREOF the Borrower, the Guarantors, the Term Loan Lenders and the
Required Lenders have caused this Amendment to be duly executed on the date
first above written.

 

BORROWER:      

THE PANTRY, INC.,

a Delaware corporation

            By:   /s/    DANIEL J. KELLY                    

Name:

  Daniel J. Kelly            

Title:

  Chief Financial Officer, Vice President–Finance and Secretary GUARANTORS:    
 

R & H MAXXON, INC.,

a South Carolina corporation

            By:   /s/    DANIEL J. KELLY                    

Name:

  Daniel J. Kelly            

Title:

  Executive Vice President and Assistant Secretary        

KANGAROO, INC.,

a Georgia corporation

            By:   /s/    DANIEL J. KELLY                    

Name:

  Daniel J. Kelly            

Title:

  Executive Vice President and Assistant Secretary

 

First Amendment to

Amended and Restated Credit Agreement

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ADMINISTRATIVE AGENT

AND LENDERS:

     

WACHOVIA BANK, NATIONAL ASSOCIATION,

as Administrative Agent and as a Lender

            By:   /s/    DOUGLAS S. BOOTHE                    

Name:

  Douglas S. Boothe            

Title:

  Director

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

LANDMARK CDO LTD

       

By Aladdin Capital Management LLC, as Manager

            By:   /s/    ANGELA BOZORGMIR                    

Name:

  Angela Bozorgmir            

Title:

  Director

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

Pacifica CDO II, Ltd. by Alcentra

            By:   /s/    ANNA POPOVICI                    

Name:

  Anna Popovici            

Title:

  Associate

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

AIMCO CDO Series 2000-A

            By:   /s/    CHRIS GOERGEN                    

Name:

  Chris Goergen            

Title:

  Authorized Signatory             By:   /s/    JERRY D. ZINKULA                
   

Name:

  Jerry D. Zinkula            

Title:

  Authorized Signatory

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

AIMCO CLO Series 2001-A

            By:   /s/    CHRIS GOERGEN                    

Name:

  Chris Goergen            

Title:

  Authorized Signatory             By:   /s/    JERRY D. ZINKULA                
   

Name:

  Jerry D. Zinkula            

Title:

  Authorized Signatory

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

Allstate Life Insurance Company

            By:   /s/    CHRIS GOERGEN                    

Name:

  Chris Goergen            

Title:

  Authorized Signatory             By:   /s/    JERRY D. ZINKULA                
   

Name:

  Jerry D. Zinkula            

Title:

  Authorized Signatory

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

American Express Certificate Company

            By: American Express Asset Management Group as Collateral Manager  
          By:   /s/    YVONNE STEVENS                    

Name:

  Yvonne Stevens            

Title:

  Senior Managing Director

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

Centurion CDO II, Ltd.

            By: American Express Asset Management Group, Inc. as Collateral
Manager             By:   /s/    ROBIN C. STANCIL                    

Name:

  Robin C. Stancil            

Title:

  Supervisor - Fixed Income Support Team

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

Centurion CDO VI, Ltd.

            By: American Express Asset Management Group as Collateral Manager  
          By:   /s/    ROBIN C. STANCIL                    

Name:

  Robin C. Stancil            

Title:

  Supervisor - Fixed Income Support Team

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

Centurion CDO VII, Ltd.

            By: American Express Asset Management Group, Inc. as Collateral
Manager             By:   /s/    ROBIN C. STANCIL                    

Name:

  Robin C. Stancil            

Title:

  Supervisor - Fixed Income Support Team

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

IDS Life Insurance Company

       

By: American Express Asset Management

       

Group, Inc. as Collateral Manager

           

By:

  /s/    YVONNE STEVENS                    

Name:

  Yvonne Stevens            

Title:

  Senior Managing Director

 

First Amendment to

Amended and Restated Credit Agreement

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KZH CYPRESSTREE-1 LLC

By:

  /s/    DORIAN HERRERA        

Name:

  Dorian Herrera

Title:

  Authorized Agent

 

First Amendment to

Amended and Restated Credit Agreement

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KZH STERLING LLC

By:

  /s/    DORIAN HERRERA        

Name:

  Dorian Herrera

Title:

  Authorized Agent

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

Sequils-Centurion V, Ltd.

       

By: American Express Asset Management Group, Inc. as Collateral Manager

           

By:

  /s/    ROBIN C. STANCIL                    

Name:

  Robin C. Stancil            

Title:

  Supervisor - Fixed Income Support Team

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

Antares Capital Corporation

           

By:

  /s/    DAVID MAHON                    

Name:

  David Mahon            

Title:

  Director

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):       JPMorgan Chase Bank, as trustee of the Antares
Funding Trust created under the Trust Agreement dated as of November 30, 1999  
          By:   /s/    LESLIE HUNDLEY                    

Name:

  Leslie Hundley            

Title:

  AVP

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):       Navigator CDO 2003, Ltd.             By:  
/s/    DAVID MAHON                    

Name:

  David Mahon            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):       Mariner CDO 2002, Ltd.             By:   /s/    DAVID
MAHON                    

Name:

  David Mahon            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

ARES IV CLO LTD.

            By:  

Ares CLO Management IV, L.P.

Investment Manager

           

By:

  Ares CLO GP IV, LLC            

Its:

  Managing Member            

By:

  /S/    SETH J. BRUFSKY                    

Name:

  Seth J. Brufsky            

Title:

  Vice President            

Ares VIII CLO LTD.

           

By:

  Ares CLO Management VIII, L.P.,            

Its:

  Investment Manager            

By:

  Ares CLO GP VIII, LLC,            

Its:

  General Partner            

By:

  /S/    SETH J. BRUFSKY                    

Name:

  Seth J. Brufsky            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):       APEX (IDM) CDO I LTD.         ELC (CAYMAN) LTD.
1999-II         ELC (CAYMAN) LTD. 1999-III         ELC (CAYMAN) LTD. 2000-I    
    SUFFIELD CLO. LIMITED         TRYON CLO LTD. 2000-I         SEABOARD CLO
2000 LTD.         BABSON CLO LTD. 2003-I         BABSON CLO LTD. 2004-I        
By: Babson Capital Management LLC as Collateral Manager             By:  
/s/    DAVID P. WELLS                   Name:   David P. Wells, CFA            
Title:   Managing Director

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):       MAPLEWOOD (CAYMAN) LIMITED         By: Babson Capital
Management LLC under delegated         authority from Massachusetts Mutual Life
Insurance         Company as Investment Manager             By:   /s/    DAVID
P. WELLS                     Name:   David P. Wells, CFA             Title:  
Managing Director

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):       MASSACHUSETTS MUTUAL LIFE INSURANCE         COMPANY  
      By: Babson Capital Management LLC as Investment         Adviser          
  By:   /s/    DAVID P. WELLS                     Name:   David P. Wells, CFA  
          Title:   Managing Director

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):       PERSEUS CDO I LIMITED         By: Babson Capital
Management LLC under delegated         authority from Massachusetts Mutual Life
Insurance         Company as Portfolio Manager             By:   /s/    DAVID P.
WELLS                     Name:   David P. Wells, CFA             Title:  
Managing Director

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):       SIMSBURY CLO. LIMITED         By: Babson Capital
Management LLC under delegated         authority from Massachusetts Mutual Life
Insurance         Company as Collateral Manager             By:   /s/    DAVID
P. WELLS                     Name:   David P. Wells, CFA             Title:  
Managing Director

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

SOMERS CDO, LIMITED

        By: Babson Capital Management LLC under delegated authority from
Massachusetts Mutual Life Insurance Company as Collateral Manager            
By:   /s/    DAVID P. WELLS                    

Name:

  David P. Wells, CFA            

Title:

  Managing Director

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

BlackRock Limited Duration Income Trust

BlackRock Senior Loan Trust

Magnetite Asset Investors LLC

Magnetite Asset Investors III LLC

Magnetite IV CLO, Limited

Magnetite V CLO, Limited

Senior Loan Fund

            By:   /s/    TOM COLWELL                    

Name:

  Tom Colwell            

Title:

  Auth. Signatory

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

By: Callidus Debt Partners CLO Fund II, Ltd.

By: Its Collateral Manager,

Callidus Capital Management, LLC

            By:   /s/    MAVIS TAINTOR                    

Name:

  Mavis Taintor            

Title:

  Managing Director

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

By: Callidus Debt Partners CLO Fund III, LLC

By: Its Collateral Manager,

Callidus Capital Management, LLC

            By:   /s/    MAVIS TAINTOR                    

Name:

  Mavis Taintor            

Title:

  Managing Director

 

First Amendment to

Amended and Restated Credit Agreement

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[LOGO APPEARS HERE]

 

Canyon Capital Advisors, LLC

9665 Wilshire Blvd., #200

Beverly Hills, CA 90212

 

PROPORTIONATE VOTING PROVISION

 

The undersigned, Canyon Capital CDO 2002-1 LTD. (“Canyon”), is a Lender to The
Pantry, dated as of March 12, 2004 (the “Credit Agreement”). Canyon’s approval
of a First Amendment to the Amended and Restated Credit Agreement has been
requested pursuant to the terms of the Credit Agreement.

 

Canyon hereby votes its percentage interest as a Lender in favor of and/or
against the approval of the First Amendment to the Amended and Restated Credit
Agreement in direct proportion to the votes of those other Lenders under the
Credit Agreement that have voted for or against the approval of the First
Amendment to the Amended and Restated Credit Agreement (without counting failure
to vote or abstentions.)

 

Canyon Capital CDO 2002-1 LTD.         By:  

Canyon Capital Advisors LLC

a Delaware limited liability company,

its Collateral Manager

            By:   /s/    R. CHRISTIAN B. EVENSEN                  

9/28/04

   

R. Christian B. Evensen

Managing Director

          Date

 

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[LOGO APPEARS HERE]

 

Canyon Capital Advisors, LLC

9665 Wilshire Blvd., #200

Beverly Hills, CA 90212

 

PROPORTIONATE VOTING PROVISION

 

The undersigned, Canyon Capital CLO 2004-1 LTD. (“Canyon”), is a Lender to The
Pantry, dated as of March 12, 2004 (the “Credit Agreement”). Canyon’s approval
of a First Amendment to the Amended and Restated Credit Agreement has been
requested pursuant to the terms of the Credit Agreement.

 

Canyon hereby votes its percentage interest as a Lender in favor of and/or
against the approval of the First Amendment to the Amended and Restated Credit
Agreement in direct proportion to the votes of those other Lenders under the
Credit Agreement that have voted for or against the approval of the First
Amendment to the Amended and Restated Credit Agreement (without counting failure
to vote or abstentions.)

 

Canyon Capital CLO 2004-1 LTD. By:  

Canyon Capital Advisors LLC

a Delaware limited liability company,

its Collateral Manager

 

By:

  /s/    R. CHRISTIAN B. EVENSEN                  

9/28/04

    R. Christian B. Evensen           Date     Managing Director            

 

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LENDERS (continued):       Carlyle High Yield Partners VI, Ltd.             By:
  /s/    LINDA PACE                    

Name:

  Linda Pace            

Title:

  Managing Director

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):       Carlyle High Yield Partners II, Ltd.             By:
  /s/    LINDA PACE                    

Name:

  Linda Pace            

Title:

  Managing Director

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):       Carlyle High Yield Partners III, Ltd.             By:
  /s/    LINDA PACE                    

Name:

  Linda Pace            

Title:

  Managing Director

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):       Sierra CLO I             By:   /s/    JOHN M.
CASPANAN                    

Name:

  John M. Caspanan            

Title:

  Chief Operating Officer                 Centre Pacific, Manager

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

Crédit Industriel et Commercial

            By:   /s/    ANTHONY ROCK           /s/    BRIAN O’LEARY            
       

Name:

  Anthony Rock   Brian O’Leary            

Title:

  Vice President   Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

JUPITER LOAN FUNDING LLC

            By:   /s/    MEREDITH J. KOSLICK                    

Name:

  Meredith J. Koslick            

Title:

  Assistant Vice President

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

WINGED FOOT FUNDING TRUST

            By:   /s/    DIANA M. HIMES                    

Name:

  Diana M. Himes            

Title:

  Authorized Agent

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):       Credit Suisse First Boston, acting through its Cayman
Islands Branch, as Syndication Agent and as a Lender             By:  
/s/    PHILLIP HO                    

Name:

  Phillip Ho            

Title:

  Director             By:   /s/    MIKHAIL FAYBUSOVICH                    

Name:

  Mikhail Faybusovich            

Title:

  Associate

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

Close International Custody Services Limited
as Custodian of CYPRESSTREE INTERNATIONAL LOAN HOLDING COMPANY LIMITED

By:

  /s/    PRESTON I. CARNES, JR.        

Name:

  Preston I. Carnes, Jr.

Title:

  Managing Director

By:

  /s/    MARTHA HADELER        

Name:

  Martha Hadeler

Title:

  Managing Director

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

Hewett’s Island CDO, Ltd.

By: CypressTree Investment Management Company, Inc.,

as Portfolio Manager

By:

  /s/    PRESTON I. CARNES, JR.        

Name:

  Preston I. Carnes, Jr.

Title:

  Managing Director

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

BRYN MAWR CLO, Ltd.

        By: Deerfield Capital Management LLC
as its Collateral Manager            

By:

  /s/    MATT STOUFFER                    

Name:

  Matt Stouffer            

Title:

  Senior Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

FOREST CREEK CLO, Ltd.

        By: Deerfield Capital Management LLC
as its Collateral Manager            

By:

  /s/    MATT STOUFFER                    

Name:

  Matt Stouffer            

Title:

  Senior Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

LONG GROVE CLO, LIMITED

        By: Deerfield Capital Management LLC
as its Collateral Manager            

By:

  /s/    MATT STOUFFER                    

Name:

  Matt Stouffer            

Title:

  Senior Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

MUIRFIELD TRADING LLC

            By:   /s/    MEREDITH J. KOSLICK                    

Name:

  Meredith J. Koslick            

Title:

  Assistant Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

ROSEMONT CLO, Ltd.

        By: Deerfield Capital Management LLC
as its Collateral Manager             By:   /s/    MATT STOUFFER                
   

Name:

  Matt Stouffer            

Title:

  Senior Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

BIG SKY SENIOR LOAN FUND, LTD.

       

BY:

  EATON VANCE MANAGEMENT
AS INVESTMENT ADVISOR             By:   /s/    MICHAEL B. BOTTHOF              
     

Name:

  Michael B. Botthof            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

COSTANTINUS EATON VANCE CDO V, LTD.

       

BY:

  EATON VANCE MANAGEMENT
AS INVESTMENT ADVISOR             By:   /s/    MICHAEL B. BOTTHOF              
     

Name:

  Michael B. Botthof            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

EATON VANCE SENIOR INCOME TRUST

       

BY:

  EATON VANCE MANAGEMENT
AS INVESTMENT ADVISOR             By:   /s/    MICHAEL B. BOTTHOF              
     

Name:

  Michael B. Botthof            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

EATON VANCE CDO III, LTD.

            BY:   EATON VANCE MANAGEMENT
AS INVESTMENT ADVISOR             By:   /s/    MICHAEL B. BOTTHOF              
     

Name:

  Michael B. Botthof            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

EATON VANCE CDO VI, LTD.

            BY:   EATON VANCE MANAGEMENT
AS INVESTMENT ADVISOR             By:   /s/    MICHAEL B. BOTTHOF              
     

Name:

  Michael B. Botthof            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

EATON VANCE INSTITUTIONAL SENIOR LOAN FUND

            BY:   EATON VANCE MANAGEMENT
AS INVESTMENT ADVISOR             By:   /s/    MICHAEL B. BOTTHOF              
     

Name:

  Michael B. Botthof            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

EATON VANCE LIMITED DURATION INCOME FUND

            BY:   EATON VANCE MANAGEMENT
AS INVESTMENT ADVISOR             By:   /s/    MICHAEL B. BOTTHOF              
     

Name:

  Michael B. Botthof            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

EATON VANCE SENIOR FLOATING-RATE TRUST

            BY:   EATON VANCE MANAGEMENT
AS INVESTMENT ADVISOR             By:   /s/    MICHAEL B. BOTTHOF              
     

Name:

  Michael B. Botthof            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

EATON VANCE

       

VT FLOATING-RATE INCOME FUND

       

BY: EATON VANCE MANAGEMENT

       

AS INVESTMENT ADVISOR

        By:   /S/    MICHAEL B. BOTTHOF                    

Name:

  Michael B. Botthof            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

GRAYSON & CO

       

BY:

 

BOSTON MANAGEMENT AND RESEARCH
AS INVESTMENT ADVISOR

        By:   /S/    MICHAEL B. BOTTHOF                    

Name:

  Michael B. Botthof            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

SENIOR DEBT PORTFOLIO

       

BY:

 

Boston Management and Research
as Investment Advisor

        By:   /S/    MICHAEL B. BOTTHOF                    

Name:

  Michael B. Botthof            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

TOLLI & CO.

       

BY:

 

EATON VANCE MANAGEMENT
AS INVESTMENT ADVISOR

        By:   /S/    MICHAEL B. BOTTHOF                    

Name:

  Michael B. Botthof            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):                 By:   /S/    TYLER CHAN                    

Name:

  Tyler Chan            

Title:

  Vice President

Franklin Floating Rate Trust

     

Franklin CLO I, Limited

Franklin Floating Rate Master Series

     

Franklin CLO II, Limited

FRANKLIN TEMPLETON

     

Franklin CLO III, Limited

LIM. DURATION INCOME TRUST

     

 

FRANKLIN CLO IV, LIMITED

                         

FRANKLIN FLOATING RATE
DAILY ACCESS FUND

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):       GSC PARTNERS GEMINI FUND LIMITED             By: GSCP
(NJ), L.P., as Collateral Monitor             By: GSCP (NJ), INC., its General
Partner             By:   /s/    SETH KATZENSTEIN                    

Name:

  Seth Katzenstein            

Title:

 

Authorized Signatory

GSC Partners

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

Guaranty Bank

            By:   /s/    MICHAEL ANSOLABEHERE                    

Name:

  Michael Ansolabehere            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):       Green Lane CLO Ltd.             By:   /s/    KAITLIN
TRINH                    

Name:

  Kaitlin Trinh            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

Loan Funding Corp. THC., Ltd.

            By:   /s/    JANET HAACK                    

Name:

  Janet Haack            

Title:

  As Attorney-in-fact

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):       North American Company for Life and Health Insurance
            By:   /s/    MICHAEL DAMASO                    

Name:

  Michael Damaso            

Title:

  Director

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

STANWICH LOAN FUNDING LLC

            By:   /s/    MEREDITH J. KOSLICK                     Name:  
Meredith J. Koslick             Title:   Assistant Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

Trumbull THC, Ltd.

            By:   /s/    JANET HAACK                     Name:   Janet Haack    
        Title:   As Attorney-in-Fact

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

ELF FUNDING TRUST I

       

By: Highland Capital Management, L.P.

       

As Collateral Manager

            By:   /s/    TODD TRAVERS                     Name:   Todd Travers  
          Title:  

Senior Portfolio Manager

Highland Capital Management, L.P.

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

Emerald Orchard Limited

            By:   /s/    GWEN ZIRKLE                     Name:   Gwen Zirkle    
        Title:   Attorney in Fact

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

HIGHLAND LEGACY LIMITED

       

By: Highland Capital Management, L.P.

       

As Collateral Manager

            By:   /s/    TODD TRAVERS                     Name:   Todd Travers  
          Title:  

Senior Portfolio Manager

Highland Capital Management, L.P.

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

HIGHLAND LOAN FUNDING V LTD.

By: Highland Capital Management, L.P.

As Collateral Manager

            By:   /s/    TODD TRAVERS                    

Name:

  Todd Travers            

Title:

  Senior Portfolio Manager
Highland Capital Management, L.P.

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

LOAN FUNDING IV LLC

By: Highland Capital Management, L.P.

As Portfolio Manager

            By:   /s/    TODD TRAVERS                    

Name:

  Todd Travers            

Title:

 

Senior Portfolio Manager

Highland Capital Management, L.P.

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

LOAN FUNDING VII LLC

By: Highland Capital Management, L.P.

As Collateral Manager

            By:   /s/    TODD TRAVERS                    

Name:

  Todd Travers            

Title:

 

Senior Portfolio Manager

Highland Capital Management, L.P.

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

IKB Capital Corporation

            By:   /s/    DAVID N. SNYDER                    

Name:

  David N. Snyder            

Title:

  President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

INDOSUEZ CAPITAL FUNDING VI, LIMITED

            By:  

Lyon Capital Management LLC,

As Collateral Manager

           

By:

  /s/    FARBOUD TAVANGAR                    

Name:

  LYON CAPITAL MANAGEMENT LLC            

Title:

 

Farboud Tavangar

Senior Portfolio Manager

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

RIVIERA FUNDING LLC

            By:   /s/    MEREDITH J. KOSLICK                    

Name:

  Meredith J. Koslick            

Title:

  Assistant Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

ING PRIME RATE TRUST

       

By:

 

ING Investment Management, Co.

as its investment manager

            By:   /s/    MARK F. HAAK                     

Name:

  Mark F. Haak, CFA            

Title:

  Vice President        

ING SENIOR INCOME FUND

       

By:

 

ING Investment Management, Co.

as its investment manager

            By:   /s/    MARK F. HAAK                    

Name:

  Mark F. Haak, CFA            

Title:

  Vice President        

SEQUILS PILGRIM I, LTD

       

By:

 

ING Investments, LLC

as its investment manager

            By:   /s/    MARK F. HAAK            

Name:

  Mark F. Haak, CFA            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

AIM FLOATING RATE FUND

       

By:

 

INVESCO Senior Secured Management, Inc.

As Sub-Adviser

            By:   /s/    GREGORY STOECKLE                    

Name:

  Gregory Stoeckle            

Title:

  Authorized Signatory

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

AVALON CAPITAL LTD. 2

       

By:

 

INVESCO Senior Secured Management, Inc.

As Portfolio Advisor

            By:   /s/    GREGORY STOECKLE                    

Name:

  Gregory Stoeckle            

Title:

  Authorized Signatory

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

CHAMPLAIN CLO, LTD.

       

By:

 

INVESCO Senior Secured Management, Inc.

As Collateral Manager

            By:   /s/    GREGORY STOECKLE                    

Name:

  Gregory Stoeckle            

Title:

  Authorized Signatory

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

CHARTER VIEW PORTFOLIO

            By:  

INVESCO Senior Secured Management, Inc.

As Investment Advisor

            By:   /s/    GREGORY STOECKLE                    

Name:

  Gregory Stoeckle            

Title:

  Authorized Signatory

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

DIVERSIFIED CREDIT PORTFOLIO LTD.

            By:  

INVESCO Senior Secured Management, Inc.

as Investment Adviser

            By:   /s/    GREGORY STOECKLE                    

Name:

  Gregory Stoeckle            

Title:

  Authorized Signatory

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):       INVESCO EUROPEAN CDO I S.A.             By:  

INVESCO Senior Secured Management, Inc.

As Collateral Manager

            By:   /s/    GREGORY STOECKLE                    

Name:

  Gregory Stoeckle            

Title:

  Authorized Signatory

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

SAGAMORE CLO LTD.

            By:  

INVESCO Senior Secured Management, Inc.

As Collateral Manager

            By:   /s/    GREGORY STOECKLE                    

Name:

  Gregory Stoeckle            

Title:

  Authorized Signatory

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

SARATOGA CLO I, LIMITED

            By:  

INVESCO Senior Secured Management, Inc.

As Asset Manager

            By:   /s/    GREGORY STOECKLE                    

Name:

  Gregory Stoeckle            

Title:

  Authorized Signatory

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

SEQUILS-LIBERTY, LTD.

            By:   INVESCO Senior Secured Management, Inc.
As Collateral Manager             By:   /s/    GREGORY STOECKLE                
   

Name:

  Gregory Stoeckle            

Title:

  Authorized Signatory

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

LCM I LIMITED PARTNERSHIP

            By:   Lyon Capital Management LLC,
As Collateral Manager             By:   /s/    FARBOUD TAVANGAR                
   

Name:

  LYON CAPITAL MANAGEMENT LLC            

Title:

  Farboud Tavangar                 Senior Portfolio Manager

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

Longhorn CDO (Cayman) LTD

            By:   Merrill Lynch Investment Managers, L.P. as Investment Advisor
            By:   /s/    ANDREW C. LIGGIO                         Andrew C.
Liggio                 Authorized Signatory            

Longhorn CDO II, LTD.

                By:   Merrill Lynch Investment Managers, L.P. as Investment
Advisor                 By:   /s/    ANDREW C. LIGGIO                          
  Andrew C. Liggio                     Authorized Signatory            

Longhorn CDO III, LTD.

                By:   Merrill Lynch Investment Managers, L.P. as Investment
Advisor                 By:   /s/    ANDREW C. LIGGIO                          
  Andrew C. Liggio                     Authorized Signatory                

Master Senior Floating Rate Trust

                    By:   /s/    ANDREW C. LIGGIO                              
  Andrew C. Liggio                         Authorized Signatory

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

Venture CDO 2002, Limited

            By its investment advisor MJX Asset Management LLC            

Name:

  /s/    M. G. REGAN                    

Title:

  M. G. Regan

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

Venture II CDO, Limited

            By its investment advisor MJX Asset Management LLC            

Name:

  /s/    M. G. REGAN                    

Title:

  M. G. Regan

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

Venture III CDO, Limited

       

By its investment advisor MJX Asset Management LLC

                /s/ M. G. REGAN            

Name:

  M. G. Regan            

Title:

   

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

Morgan Stanley Prime Income Trust

       

By:

  /S/    ELIZABETH BODISCH                    

Name:

  Elizabeth Bodisch            

Title:

  Authorized Signatory

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

HarbourView CLO IV, Ltd.

       

By:

  /S/    BILL CAMPBELL                    

Name:

  Bill Campbell            

Title:

  Manager

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

HarbourView CLO V, Ltd.

       

By:

  /S/    BILL CAMPBELL                    

Name:

  Bill Campbell            

Title:

  Manager

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

OPPENHEIMER SENIOR FLOATING RATE FUND

       

By:

  /S/    BILL CAMPBELL                    

Name:

  Bill Campbell            

Title:

  Manager

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

Dryden III Leveraged Loan CDO 2002

       

By: Prudential Investment Management, Inc.,

as Collateral Manager

            By:   /s/    B. ROSS SMEAD                     Name:   B. Ross Smead
            Title:   Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

Dryden IV Leveraged Loan CDO 2003

       

By: Prudential Investment Management, Inc.,

as Collateral Manager

            By:   /s/    B. ROSS SMEAD                     Name:   B. Ross Smead
            Title:   Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

Dryden Leveraged Loan CDO 2002-II

       

By: Prudential Investment Management, Inc.,

as Collateral Manager

            By:   /s/    B. ROSS SMEAD                     Name:   B. Ross Smead
            Title:   Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

Loan Funding V, LLC

       

By: Prudential Investment Management, Inc.,

as Portfolio Manager

            By:   /s/    B. ROSS SMEAD                     Name:   B. Ross Smead
            Title:   Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

Raymond James Bank, FSB

            By:   /S/    ANDREW D. HAHN                     Name:   Andrew D.
Hahn             Title:   Vice President

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

FOXE BASIN CLO 2003, LTD.

       

By Royal Bank of Canada as Collateral Manager

        By:   /S/    MELISSA MARANO                    

Name:

  Melissa Marano            

Title:

  Authorized Signatory

 

First Amendment to

Amended and Restated Credit Agreement

--------------------------------------------------------------------------------

LENDERS (continued):      

SEQUILS-Glace Bay, Ltd.

       

By Royal Bank of Canada as Collateral Manager

        By:   /S/    MELISSA MARANO                    

Name:

  Melissa Marano            

Title:

  Authorized Signatory

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

Toronto Dominion (New York), Inc.

        By:   /S/    GWEN ZIRKLE                    

Name:

  Gwen Zirkle            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

VAN KAMPEN SENIOR INCOME TRUST

       

By: Van Kampen Investment Advisory Corp.

        By:   /S/    CHRISTINA JAMIESON                    

Name:

  Christina Jamieson            

Title:

  Executive Director

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

VAN KAMPEN SENIOR LOAN FUND

       

By: Van Kampen Investment Advisory Corp.

        By:   /S/    CHRISTINA JAMIESON                    

Name:

  Christina Jamieson            

Title:

  Executive Director

 

First Amendment to

Amended and Restated Credit Agreement

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LENDERS (continued):      

Wells Fargo Bank, N.A.

        By:   /S/    S. MICHAEL ST. GEME                    

Name:

  S. Michael St. Geme            

Title:

  Vice President

 

First Amendment to

Amended and Restated Credit Agreement