Exhibit 10.1

 

SIXTH AMENDMENT

TO

AMENDED AND RESTATED CREDIT AGREEMENT

 

THIS SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this
“Amendment”), dated as of July 21, 2004, is entered into by and among AMN
HEALTHCARE, INC., a Nevada corporation (the “Borrower”), AMN HEALTHCARE
SERVICES, INC. (formerly known as AMN Holdings, Inc.), a Delaware corporation
(the “Parent”), the Subsidiary Guarantors signatory hereto, the lenders
identified on the signature pages hereto as the Lenders (the “Lenders”) and BANK
OF AMERICA, N. A., as Agent for the Lenders (in such capacity, the “Agent”).

 

RECITALS

 

A. The Borrower, the Parent, the Subsidiary Guarantors, the Lenders and the
Agent, are party to that certain Amended and Restated Credit Agreement dated as
of November 16, 2001, as amended by that certain First Amendment to Amended and
Restated Credit Agreement dated as of April 8, 2002, as amended by that certain
Second Amendment to Amended and Restated Credit Agreement dated as of May 2,
2002, as amended by that certain Third Amendment to Amended and Restated Credit
Agreement dated as of November 8, 2002, as amended by that certain Fourth
Amendment to Amended and Restated Credit Agreement dated as of January 10, 2003
and as amended by that certain Fifth Amendment to Amended and Restated Credit
Agreement dated as of October 2, 2003 (as amended, the “Existing Credit
Agreement”). Unless otherwise defined herein or the context otherwise requires,
terms used in this Amendment, including its preamble and recitals, have the
meanings provided in the Existing Credit Agreement.

 

B. The Credit Parties have requested that the Lenders amend the Existing Credit
Agreement as provided herein.

 

C. The Issuing Lender, the Requisite Lenders and the Lenders holding in the
aggregate at least a majority of the Revolving Commitments have agreed to amend
the Existing Credit Agreement on the terms and conditions hereinafter set forth.

 

1

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

 

PART I

DEFINITIONS

 

SUBPART 1.1 Certain Definitions. Unless otherwise defined herein or the context
otherwise requires, the following terms used in this Amendment, including its
preamble and recitals, have the following meanings.:

 

“Amended Credit Agreement” means the Existing Credit Agreement as amended
hereby.

 

“Amendment No. 6 Effective Date” is defined in Part III.

 

SUBPART 1.2 Other Definitions. Unless otherwise defined herein or the context
otherwise requires, terms used in this Amendment, including its preamble and
recitals, have the meanings provided in the Existing Credit Agreement.

 

PART II

AMENDMENTS TO EXISTING CREDIT AGREEMENT

 

Effective on (and subject to the occurrence of) the Amendment No. 6 Effective
Date, the Existing Credit Agreement is hereby amended in accordance with this
Part II.

 

SUBPART 2.1 Amendments to Section 1.1. The definition of “Applicable Percentage”
contained in Section 1.1 of the Existing Credit Agreement is hereby amended to
add the following sentence immediately following the pricing table:

 

Notwithstanding any provision of this Credit Agreement or any other Credit
Document to the contrary, if (i) the Borrower’s “long term issuer rating” or
“senior secured bank debt rating” as determined by S&P is lower than BB- or (ii)
the Borrower’s “long term issuer rating” or “senior secured bank credit facility
rating” as determined by Moody’s is lower than Ba3 (long term issuer rating) or
Ba2 (senior secured bank credit facility rating), respectively, then each of the
Applicable Percentages set forth in the table above shall be increased by 25
basis points, effective beginning on the first day following the date on which
such rating change occurred and continuing so long as such rating remains below
the applicable rating as set forth in clauses (i) or (ii) above.

 

SUBPART 2.2 Amendments to Section 2.2. Section 2.2(a) of the Existing Credit
Agreement is hereby amended and restated in its entirety to read as follows:

 

  2.2 Letter of Credit Subfacility.

 

(a) Issuance. Subject to the terms and conditions hereof and in reliance upon
the representations and warranties set forth herein, the applicable Issuing
Lender agrees to issue, and each Revolving Lender severally agrees to
participate in the issuance by each Issuing Lender of, standby and trade Letters
of Credit in Dollars from time to time from the Closing Date until the date
thirty (30) days prior to the Maturity Date as the Borrower may request, in a
form acceptable to the applicable Issuing Lender; provided, however, that (i)
the LOC Obligations outstanding shall not at any time exceed THIRTY MILLION
DOLLARS ($30,000,000) (the “LOC Committed Amount”) and (ii)the sum of the
aggregate outstanding principal amount of Revolving Loans plus LOC Obligations
plus Swingline Loans shall not at any time exceed the Revolving Committed
Amount. No Letter of Credit shall (x) have an original expiry date more than one
year from the date of issuance (provided that any such Letter of Credit may
contain customary “evergreen” provisions pursuant to

 

2

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which the expiry date is automatically extended by a specific time period unless
the applicable Issuing Lender gives notice to the beneficiary of such Letter of
Credit at least a specified time period prior to the expiry date then in effect)
or (y) as originally issued or as extended, have an expiry date extending beyond
the date thirty (30) days prior to the Maturity Date. The issuance and expiry
dates of each Letter of Credit shall be a Business Day.

 

SUBPART 2.3 Amendments to Section 2.4. Section 2.4(e) of the Existing Credit
Agreement is hereby amended and restated in its entirety to read as follows:

 

(e) Interest. Subject to the provisions of Section 3.1, the Tranche B Loan shall
bear interest at a per annum rate equal to:

 

(i) Base Rate Loans. During such periods as the Tranche B Loan shall be
comprised in whole or in part of Base Rate Loans, such Base Rate Loans shall
bear interest on the outstanding principal amount thereof from the applicable
borrowing date at a rate per annum equal to the Base Rate plus 2.00% (or plus
2.25% if (i) the Borrower’s “long term issuer rating” or “senior secured bank
debt rating” as determined by S&P is lower than BB- or (ii) the Borrower’s “long
term issuer rating” or “senior secured bank credit facility rating” as
determined by Moody’s is lower than Ba3 (long term issuer rating) or Ba2 (senior
secured bank credit facility rating) respectively, effective beginning on the
first day following the date on which such rating change occurred and continuing
so long as such rating remains below the applicable rating as set forth in
clauses (i) or (ii) above);

 

(ii) Eurodollar Loans. During such periods as the Tranche B Loan shall be
comprised in whole or in part of Eurodollar Loans, such Eurodollar Loans shall
bear interest on the outstanding principal amount thereof for each Interest
Period at a rate per annum equal to the sum of (A) the Eurodollar Rate for such
Interest Period plus 3.00% (or plus 3.25% if (i) the Borrower’s “long term
issuer rating” or “senior secured bank debt rating” as determined by S&P is
lower than BB- or (ii) the Borrower’s “long term issuer rating” or “senior
secured bank credit facility rating” as determined by Moody’s is lower than Ba3
(long term issuer rating) or Ba2 (senior secured bank credit facility rating)
respectively, effective beginning on the first day following the date on which
such rating change occurred and continuing so long as such rating remains below
the applicable rating as set forth in clauses (i) or (ii) above);

 

Interest on the Tranche B Loan shall be payable in arrears on each applicable
Interest Payment Date (or at such other times as may be specified herein).

 

3

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SUBPART 2.4 Amendments to Section 7.11. Section 7.11 of the Existing Credit
Agreement is hereby amended and restated in its entirety to read as follows:

 

  7.11 Financial Covenants.

 

(a) Leverage Ratio. The Credit Parties shall not permit the Leverage Ratio as of
the last day of any fiscal quarter of the Consolidated Parties to be greater
than:

 

Fiscal Year

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March 31

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June 30

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September 30

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December 31

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2003

   1.50    1.50    1.50    2.50

2004

   2.50    2.75    3.25    3.25

2005

   3.00    2.50    2.25    2.00

2006

   2.00    1.75    1.50    1.50

2007 and

Thereafter

   1.50    1.50    1.50    1.50

 

(b) Fixed Charge Coverage Ratio. The Credit Parties shall not permit the Fixed
Charge Coverage Ratio as of the last day of any fiscal quarter of the
Consolidated Parties be less than:

 

Fiscal Year

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

  

March 31

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June 30

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September 30

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December 31

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2003

   3.00    3.00    3.00    3.00

2004

   3.00    3.00    2.25    2.00

2005

   2.00    2.25    2.50    3.00

2006

   3.00    3.00    3.00    3.00

2007 and

Thereafter

   3.00    3.00    3.00    3.00

 

SUBPART 2.5 Amendments to Exhibits. Exhibit 2.l(b)(i) of the Existing Credit
Agreement is amended and restated in its entirety to read in the form of such
Exhibit 2.1(b)(i) attached hereto as Annex I to this Amendment and Exhibit 3.2
of the Existing Credit Agreement is amended and restated in its entirety to read
in the form of such Exhibit 3.2 attached hereto as Annex II to this Amendment.

 

PART III

CONDITIONS TO EFFECTIVENESS

 

This Amendment shall be and become effective as of the date (the “Amendment No.
6 Effective Date”) when all of the conditions set forth in this Part III shall
have been satisfied.

 

SUBPART 3.1 Execution of Counterparts of Amendment. The Agent shall have
received counterparts of this Amendment, which collectively shall have been duly
executed on behalf of each of the Borrower, each of the Guarantors, the Issuing
Lender, the Requisite Lenders and the Lenders holding in the aggregate at least
a majority of the Revolving Commitments.

 

SUBPART 3.2 Fees and Expenses. The Agent shall have received, (i) for the
account of each Lender who executes and approves this Amendment on or before
5:00 P.M. (EST) on July

 

4

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21, 2004, an amendment fee equal to 5 basis points of the Revolving Commitment
and the Term B Loan Commitment of each such approving Lender, which fee shall be
due and payable to each approving Lender when all of the conditions set forth in
this Part III shall have been satisfied and (ii) on the date hereof, all
out-of-pocket costs and expenses of the Agent in connection with the
preparation, execution and delivery of this Amendment, including without
limitation the fees and expenses of Moore & Van Allen PLLC, special counsel to
the Agent.

 

SUBPART 3.3 Other Items. The Agent shall have received such other documents,
agreements or information which may be reasonably requested by the Agent.

 

PART IV

MISCELLANEOUS

 

SUBPART 4.1 Construction. This Amendment is a Credit Document executed pursuant
to the Existing Credit Agreement and shall (unless otherwise expressly indicated
therein) be construed, administered and applied in accordance with the terms and
provisions of the Amended Credit Agreement.

 

SUBPART 4.2 Representations and Warranties. Each Credit Party hereby represents
and warrants that (i) each Credit Party that is party to this Amendment: (a) has
the requisite corporate power and authority to execute, deliver and perform this
Amendment, as applicable and (b) is duly authorized to, and has been authorized
by all necessary corporate action, to execute, deliver and perform this
Amendment, (ii) the representations and warranties contained in Section 6 of the
Amended Credit Agreement are true and correct in all material respects on and as
of the date hereof upon giving effect to this Amendment as though made on and as
of such date (except for those which expressly relate to an earlier date) and
(iii) no Default or Event of Default exists under the Existing Credit Agreement
on and as of the date hereof upon giving effect to this Amendment.

 

SUBPART 4.3 Acknowledgment. The Guarantors acknowledge and consent to all of the
terms and conditions of this Amendment and agree that this Amendment does not
operate to reduce or discharge the Guarantors’ obligations under the Amended
Credit Agreement or the other Credit Documents. The Guarantors further
acknowledge and agree that the Guarantors have no claims, counterclaims,
offsets, or defenses to the Credit Documents and the performance of the
Guarantors’ obligations thereunder or if the Guarantors did have any such
claims, counterclaims, offsets or defenses to the Credit Documents or any
transaction related to the Credit Documents, the same are hereby waived,
relinquished and released in consideration of the Lenders’ execution and
delivery of this Amendment.

 

SUBPART 4.4 Counterparts. This Amendment may be executed by the parties hereto
in several counterparts, each of which shall be deemed to be an original and all
of which shall constitute together but one and the same agreement.

 

SUBPART 4.5 Binding Effect. This Amendment, the Amended Credit Agreement and the
other Credit Documents embody the entire agreement between the parties and
supersede all prior agreements and understandings, if any, relating to the
subject matter hereof. These Credit

 

5

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Documents represent the final agreement between the parties and may not be
contradicted by evidence of prior, contemporaneous or subsequent oral agreements
of the parties. Except as expressly modified and amended in this Amendment, all
the terms, provisions and conditions of the Credit Documents shall remain
unchanged and shall continue in full force and effect.

 

SUBPART 4.6 GOVERNING LAW. THlS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

SUBPART 4.7 Severability. If any provision of this Amendment is determined to be
illegal, invalid or unenforceable, such provision shall be fully severable and
the remaining provisions shall remain in full force and effect and shall be
construed without giving effect to the illegal, invalid or unenforceable
provisions.

 

[Remainder of Page Intentionally Left Blank]

 

6

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IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this
Amendment to be duly executed and delivered as of the date first above written.

 

BORROWER:       AMN HEALTHCARE, INC.             By:  

LOGO [g22117donald-myll.jpg]

           

Name:

 

DONALD R. MYLL

           

Title:

 

CHIEF FINANCIAL OFFICER

PARENT:       AMN HEALTHCARE SERVICES, INC.             By:  

LOGO [g22117donald-myll.jpg]

           

Name:

 

DONALD R. MYLL

           

Title:

 

CHIEF FINANCIAL OFFICER

SUBSIDIARY

GUARANTORS:

      WORLDVIEW HEALTHCARE,INC.             By:  

LOGO [g22117donald-myll.jpg]

           

Name:

 

DONALD R. MYLL

           

Title:

 

CHIEF FINANCIAL OFFICER

 

        O’GRADY-PEYTON INTERNATIONAL (USA),INC.             By:  

LOGO [g22117donald-myll.jpg]

           

Name:

 

DONALD R. MYLL

           

Title:

 

CHIEF FINANCIAL OFFICER

       

INTERNATIONAL HEALTHCARE

RECRUITERS, INC.

            By:   LOGO [g22117donald-myll.jpg]            

Name:

 

DONALD R. MYLL

           

Title:

 

CHIEF FINANCIAL OFFICER

        AMN STAFFING SERVICES, INC.             By:  

LOGO [g22117donald-myll.jpg]

           

Name:

 

DONALD R. MYLL

           

Title:

 

CHIEF FINANCIAL OFFICER

           

[Signatures Continued]

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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AGENT:      

BANK OF AMERICA, N.A.,

in its capacity as Agent

            By:  

LOGO [g22117charles-graber.jpg]

           

Name:

 

Charles Graber

           

Title:

 

Vice President

LENDERS:       BANK OF AMERICA, N.A.             By:                

Name:

               

Title:

               

[Signatures Continued]

 

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Bank of America, N.A.

as Lender

By:  

LOGO [g22117joseph-corah.jpg]

Name:

 

Joseph L. Corah

Title:

 

Principal

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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Sierra CLO I By:  

LOGO [g22117john-casparian.jpg]

Name:

 

John M. Casparian

Title:

 

Chief Operating Officer

   

Centre Pacific Manager

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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THE TRAVELERS INSURANCE COMPANY

By  

LOGO [g22117denise-duffee.jpg]

   

Name:

  DENISE DUFFEE    

Title:

  Investment Officer

CITICORP INSURANCE AND INVESTMENT TRUST

By TRAVELERS ASSET MANAGEMENT

INTERNATIONAL COMPANY LLC

By  

LOGO [g22117denise-duffee.jpg]

   

Name:

  DENISE DUFFEE    

Title:

  Investment Officer

 

AMN HEALTHCARE INC.

Sixth Amendment

 

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[LENDER] Nationwide Life Insurance Company By:  

LOGO [g22117mark-poeppelman.jpg]

Name:

 

MARK W. POEPPELMAN

Title:

 

AUTHORIZED SIGNATORY

 

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

Nationwide Mutual Insurance Company

 

[LENDER] By:  

LOGO [g22117mark-poeppelman.jpg]

Name:

 

Mark W. Poeppelman

Title:

 

Authorized Signatory

 

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VAN KAMPEN

SENIOR INCOME TRUST

By: Van Kampen Investment Advisory Corp.

By:  

LOGO [g22117christina-jamieson.jpg]

Name:

 

Christina Jamieson

Title:

 

Executive Director

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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VAN KAMPEN

SENIOR LOAN FUND

By: Van Kampen Investment Advisory Corp.

By:  

LOGO [g22117christina-jamieson.jpg]

Name:

 

Christina Jamieson

Title:

 

Executive Director

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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[LENDER]    

Venture III CDO Limited

By its investment advisor, MJX Asset Management LLC

By:  

LOGO [g22117kenneth-c.jpg]

Name:

 

Illegible

Title:

 

Illegible

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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[LENDER]     Venture CDO 2002, Limited
By its investment advisor, MJX Asset Management LLC By:  

LOGO [g22117kenneth-c.jpg]

Name:

 

Illegible

Title:

 

Illegible

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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GENERAL ELECTRIC CAPITAL
CORPORATION

By:

 

LOGO [g22117maura-fitzgerald.jpg]

Name:

 

Maura Fitzgerald

Title:

 

Its Duly Authorized Signatory

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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AVALON CAPITAL LTD.

By:  

INVESCO Senior Secured Management, Inc.

As Portfolio Advisor

By:  

LOGO [g22117thomas-ewald.jpg]

Name:

 

Thomas H. B. Ewald

Title:

 

Authorized Signatory

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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AVALON CAPITAL LTD. 2

By:  

INVESCO Senior Secured Management, Inc.

As Portfolio Advisor

By:  

LOGO [g22117thomas-ewald.jpg]

Name:

 

Thomas H. B. Ewald

Title:

 

Authorized Signatory

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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CHARTER VIEW PORTFOLIO

By:  

INVESCO Senior Secured Management, Inc.

As Investment Advisor

By:  

LOGO [g22117thomas-ewald.jpg]

Name:

 

Thomas H. B. Ewald

Title:

 

Authorized Signatory

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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DIVERSIFIED CREDIT PORTFOLIO LTD.

By:  

INVESCO Senior Secured Management, Inc.

as Investment Adviser

By:  

LOGO [g22117thomas-ewald.jpg]

Name:

 

Thomas H. B. Ewald

Title:

 

Authorized Signatory

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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AIM FLOATING RATE FUND By:  

INVESCO Senior Secured Management, Inc.

As Sub-Adviser

By:  

LOGO [g22117thomas-ewald.jpg]

Name:

 

Thomas H. B. Ewald

Title:

 

Authorized Signatory

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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INVESCO EUROPEAN CDO I. S.A. By:  

INVESCO Senior Secured Management, Inc.

As Collateral Manager

    By:  

LOGO [g22117thomas-ewald.jpg]

   

Name:

 

Thomas H. B. Ewald

   

Title:

 

Authorized Signatory

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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SEQUILS-LIBERTY LTD. By:  

INVESCO Senior Secured Management, Inc.

As Collateral Manager

    By:  

LOGO [g22117thomas-ewald.jpg]

   

Name:

 

Thomas H. B. Ewald

   

Title:

 

Authorized Signatory

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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SAGAMORE CLO LTD. By:  

INVESCO Senior Secured Management, Inc.

As Collateral Manager

    By:  

LOGO [g22117thomas-ewald.jpg]

   

Name:

 

Thomas H. B. Ewald

   

Title:

 

Authorized Signatory

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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SARATOGA CLO I, LIMITED. By:  

INVESCO Senior Secured Management, Inc.

As Asset Manager

    By:  

LOGO [g22117thomas-ewald.jpg]

   

Name:

 

Thomas H. B. Ewald

   

Title:

 

Authorized Signatory

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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Flagship CLO II     By:   Flagship Capital Management, Inc. By:  

LOGO [g22117collen-cuniffe.jpg]

Name:

 

Colleen Cunniffe

Title:

 

Director

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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    Harch CLO I, Ltd. By:  

LOGO [g22117micheal-lewitt.jpg]

Name:

  Michael E. Lewitt

Title:

  AUTHORIZED SIGNATORY

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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GoldenTree Loan Opportunities II, Limited By:   GoldenTree Asset Management, LP
By:  

LOGO [g22117thomas-o_shea.jpg]

Name:

 

Thomas M. O’Shea

Title:

 

Portfolio Manager

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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The Sumitomo Trust & Banking Co., Ltd.,

New York Branch

By:  

LOGO [g22117elizabeth-quirk.jpg]

Name:

 

Elizabeth A. Quirk

Title:

 

Vice President

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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UNION BANK OF CALIFORNIA, N.A. By:  

LOGO [g22117douglas-lambell.jpg]

Name:

 

Douglas S. Lambell

Title:

 

Vice President / SCM

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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Bank of Montreal By:  

LOGO [g22117s-valia.jpg]

Name:

 

S. Valia

Title:

 

____

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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GULF STREAM-COMPASS CLO 2002-1 LTD

    By:  

Gulf stream Asset Management LLC

   

As Collateral Manager

 

Gulf Stream Asset Management LLC By:  

LOGO [g22117barry-love.jpg]

Name:

 

Barry Love

Title:

 

Chief Credit Officer

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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Landmark III CDO Limited By:  

LOGO [g22117aladdin-capital.jpg]

Name:

 

Illegible

Title:

 

Director

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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Aurum CLO 2002-1 Ltd., by Columbia Management Advisors, Inc., as Investment
Manager By:  

LOGO [g22117thomas-bouchard.jpg]

Name:

 

Thomas R. Bouchard

Title:

 

V.P.

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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Stein Roe & Farnham CLO1 Ltd., by

Columbia Management Advisors, Inc., as

Portfolio Manager

By:  

LOGO [g22117thomas-bouchard.jpg]

Name:

 

Thomas R. Bouchard

Title:

 

V.P.

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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LONG GROVE CLO, Limited.

By:

  Deerfield Capital Management LLC as its Collateral Manager By:  

LOGO [g22117dale-burrow.jpg]

Name:

 

Dale Burrow

Title:

 

Senior Vice President

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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ROSEMONT CLO, Ltd.

By:

  Deerfield Capital Management LLC as its Collateral Manager By:  

LOGO [g22117dale-burrow.jpg]

Name:

 

Dale Burrow

Title:

 

Senior Vice President

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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BRYN MAWR CLO, Ltd.

By:

  Deerfield Capital Management LLC as its Collateral Manager By:  

LOGO [g22117dale-burrow.jpg]

Name:

 

Dale Burrow

Title:

 

Senior Vice President

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

SEQUILS-Cumberland I, Ltd. By:   Deerfield Capital Management LLC as its
Collateral Manager

 

By:  

LOGO [g22117dale-burrow.jpg]

Name:

 

Dale Burrow

Title:

 

Senior Vice President

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

Fidelity Advisor Series II: Fidelity Advisor

Floating Rate High Income Fund

By:

 

LOGO [g22117john-costello.jpg]

Name:

 

John H. Costello

Title:

 

Assistant Treasurer

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

IKB Capital Corporation By:  

LOGO [g22117david-snyder.jpg]

Name:

  DAVID SNYDER

Title:

 

PRESIDENT

IKB CAPITAL CORPORATION

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

COLUMBUS LOAN FUNDING LTD.

By: Travelers Asset Management International

Company LLC

By:  

LOGO [g22117melanie-hanlon.jpg]

Name:

 

Melanie Hanlon

Title:

 

Vice President

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

CITIGROUP INVESTMENTS

CORPORATE LOAN FUND INC.

By: Travelers Asset Management International

Company LLC

By:  

LOGO [g22117melanie-hanlon.jpg]

Name:

 

Melanie Hanlon

Title:

 

Vice President

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

AGENT:      

BANK OF AMERICA, N.A.,

in its capacity as Agent

            By:                

Name:

 

Charles Graber

           

Title:

 

Vice President

 

LENDERS:       BANK OF AMERICA, N.A.             By:                

Name:

               

Title:

               

[Signatures Continued]

 

Longhom CDO II, LTD.

By: Illegible

By:  

LOGO [g22117ean-melix.jpg]

     

 

AMN HEALTHCARE, INC.

 

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

EATON VANCE INSTITUTIONAL SENIOR LOAN FUND

BY: EATON VANCE MANAGEMENT

AS INVESTMENT ADVISOR

By:  

LOGO [g22117payson-swaffield.jpg]

Name:

  PAYSON F. SWAFFIELD

Title:

  VICE PRESIDENT

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

EATON VANCE CDO III, LTD.

BY: EATON VANCE MANAGEMENT

AS INVESTMENT ADVISOR

By:  

LOGO [g22117payson-swaffield.jpg]

Name:

  PAYSON F. SWAFFIELD

Title:

  VICE PRESIDENT

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

EATON VANCE CDO VI LTD.

BY: EATON VANCE MANAGEMENT

AS INVESTMENT ADVISOR

By:  

LOGO [g22117payson-swaffield.jpg]

Name:

  PAYSON F. SWAFFIELD

Title:

  VICE PRESIDENT

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

GRAYSON & CO

BY: BOSTON MANAGEMENT AND RESEARCH

AS INVESTMENT ADVISOR

By:  

LOGO [g22117payson-swaffield.jpg]

Name:

  PAYSON F. SWAFFIELD

Title:

  VICE PRESIDENT

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

   

BIG SKY SENIOR LOAN FUND, LTD.

BY: EATON VANCE MANAGEMENT

            AS INVESTMENT ADVISOR By:  

LOGO [g22117payson-swaffield.jpg]

Name:

  PAYSON F. SWAFFIELD

Title:

  VICE PRESIDENT

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

   

TOLLI & CO.

BY: EATON VANCE MANAGEMENT

            AS INVESTMENT ADVISORS By:  

LOGO [g22117payson-swaffield.jpg]

Name:

  PAYSON F. SWAFFIELD

Title:

  VICE PRESIDENT

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

   

EATON VANCE SENIOR

FLOATING-RATE TRUST

BY: EATON VANCE MANAGEMENT

            AS INVESTMENT ADVISOR By:  

LOGO [g22117payson-swaffield.jpg]

Name:

  PAYSON F. SWAFFIELD

Title:

  VICE PRESIDENT

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

COLUMBIA FLOATING RATE

ADVANTAGE FUND

By: Highland Capital Management, L.P.,

Its Investment Advisor

By:  

LOGO [g22117mark-akada.jpg]

Name:

  Mark Okada

Title:

 

Chief Investment Officer

Highland Capital Management, L.P.

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

ELF FUNDING TRUST I

By: Highland Capital Management, L.P.,

As Collateral Manager

By:  

LOGO [g22117mark-akada.jpg]

Name:

  Mark Okada

Title:

 

Chief Investment Officer

Highland Capital Management, L.P.

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

LOAN FUNDING IV LLC (Bristol Bay)

By: Highland Capital Management, L.P.,

As Portfolio Manager

By:  

LOGO [g22117mark-akada.jpg]

Name:  

Mark Okada

Title:  

Chief Investment Officer

   

Highland Capital Management, L.P.

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

Dryden V Leveraged Loan CDO 2003

By: Prudential Investment Management,

Inc., as Collateral Manager

By:  

LOGO [g22117b-ross.jpg]

Name:  

Illegible

Title:  

Vice President

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

    Centurion CDO VII, Ltd.    

By: American Express Asset Management

Group, Inc. as Collateral Manager

By:  

LOGO [g22117yvonne-stevens.jpg]

Name:  

Yvonne Stevens

Title:  

Senior Managing Director

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

    Centurion CDO II, Ltd.    

By: American Express Asset Management

Group, Inc. as Collateral Manager

By:

 

LOGO [g22117robin-stancil.jpg]

Name:

 

Robin C. Stancil

Title:

 

Supervisor - Fixed Income Support Team

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

    Centurion CDO VI, Ltd.    

By: American Asset Management

Group, Inc. as Collateral Manager

By:

 

LOGO [g22117robin-stancil.jpg]

Name:

 

Robin C. Stancil

Title:

 

Supervisor - Fixed Income Support Team

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

    Sequils-Centurion V, Ltd.    

By: American Express Asset

Management Group, Inc. as Collateral

Manager

By:

 

LOGO [g22117robin-stancil.jpg]

Name:

 

Robin C. Stancil

Title:

 

Supervisor - Fixed Income Support Team

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

    Centurion CDO III, Ltd.    

By: American Express Asset Management

Group, Inc. as Collateral Manager

By:

 

LOGO [g22117robin-stancil.jpg]

Name:

 

Robin C. Stancil

Title:

 

Supervisor - Fixed Income Support Team

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

EAST WEST BANK

By:

 

LOGO [g22117nancy-moore.jpg]

Name:

 

Nancy A. Moore

Title:

 

Senior Vice President

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

KZH CYPRESSTREE-1 LLC

By:

 

LOGO [g22117dorian-herrera.jpg]

Name:

 

DORIAN HERRERA

Title:

 

AUTHORIZED AGENT

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

KZH STERLING LLC

By:

 

LOGO [g22117dorian-herrera.jpg]

Name:

 

DORIAN HERRERA

Title:

 

AUTHORIZED AGENT

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

ECL FUNDING LLC

By:

 

LOGO [g22117jason-trala.jpg]

Name:

 

JASON TRALA

Title:

 

Attorney-In-Fact

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

FRANKLIN FLOATING RATE MASTER SERIES

By:

 

LOGO [g22117madeline-lam.jpg]

Name:

 

Madeline Lam

Title:

 

Asst. Vice President

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

FRANKLIN FLOATING RATE DAILY ACCESS FUND

By:

 

LOGO [g22117madeline-lam.jpg]

Name:

 

Madeline Lam

Title:

 

Asst. Vice President

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

FRANKLIN TEMPLETON LIMITED DURATION INCOME TRUST

By:

 

LOGO [g22117richard-hsu.jpg]

Name:

 

Richard Hsu

Title:

 

Asst. Vice President

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

FRANKLIN CLO I, LIMITED

By:

 

LOGO [g22117david-ardini.jpg]

Name:

 

DAVID ARDINI

Title:

 

VICE PRESIDENT

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

FRANKLIN CLO IV, LIMITED By:  

LOGO [g22117david-ardini.jpg]

Name:

 

DAVID ARDINI

Title:

 

VICE PRESIDENT

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

GSC PARTNERS CDO FUND IV, LIMITED By:  

GSCP (NJ), L.P. as Collateral Manager

       

By:

 

LOGO [g22117harvey-siegel.jpg]

       

Name:

 

Harvey Siegel

       

Title:

 

Authorized Signatory

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

HSH Nordbank AG By:  

LOGO [g22117drew-vonglahn.jpg]

Name:

 

Drew von Glahn

Title:

 

Senior Vice President

By:  

LOGO [g22117david-canavan.jpg]

Name:

 

David Canavan

Title:

 

Senior Vice President

 

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

INDOSUEZ CAPITAL FUNDING VI, LIMITED

By: Indosuez Capital as Collateral Manager

By:  

LOGO [g22117charles-koboyashi.jpg]

Name:

 

Charles Kobayashi

Title:

 

Principal and Portfolio Manager

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

First Dominion Funding III By:  

LOGO [g22117andrew-marshak.jpg]

Name:

 

ANDREW MARSHAK

Title:

 

AUTHORIZED SIGNATORY

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

CSAM Funding III By:  

LOGO [g22117andrew-marshak.jpg]

Name:

 

ANDREW MARSHAK

Title:

 

AUTHORIZED SIGNATORY

 

SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

AMN HEALTHCARE, INC.

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

Annex I to Amendment No. 6

 

Exhibit 2.1(b)(i)

 

FORM OF NOTICE OF BORROWING

 

Bank of America, N. A.,

  as Agent for the Lenders

101 North Tryon Street

Independence Center, 15th Floor

NC1-001-15-04

Charlotte, North Carolina 28255

Attention: Agency Services

 

Ladies and Gentlemen:

 

The undersigned, AMN HEALTHCARE, INC. (the “Borrower”), refers to the Amended
and Restated Credit Agreement dated as of November 16, 2001 (as amended,
modified, restated or supplemented from time to time, the “Credit Agreement”),
among the Borrower, the Guarantors, the Lenders and Bank of America, N.A., as
Agent. Capitalized terms used herein and not otherwise defined herein shall have
the meanings assigned to such terms in the Credit Agreement. The Borrower hereby
gives notice pursuant to Section 2.1 of the Credit Agreement that it requests a
Revolving Loan advance under the Credit Agreement, and in connection therewith
sets forth below the terms on which such Loan advance is requested to be made:

 

(A)   Date of Borrowing (which is a Business Day)

   ___________________________

(B)   Principal Amount of Borrowing

   ___________________________

(C)   Interest rate basis

   ___________________________

(D)   Interest Period and the last day thereof

   ___________________________

 

AMN HEALTHCARE, INC.

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

In accordance with the requirements of Section 5.2, the Borrower hereby
reaffirms the representations and warranties set forth in the Credit Agreement
as provided in clause (b) of such Section, and confirms that the matters
referenced in clauses (c), (d), (e) and (f) of such Section, are true and
correct. Delivered herewith are detailed calculations demonstrating compliance
by the Borrower with clause (f) of Section 5.2 as of the Date of Borrowing set
forth in subsection (A) of this Notice of Borrowing.

 

AMN HEALTHCARE, INC. By:     Name:     Title:    

 

AMN HEALTHCARE, INC.

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

Attachment to Notice of Borrowing

 

Computation of the Section 5.2(f)

 

A.     Funded Indebtedness of the Consolidated Parties on a consolidated basis
on the Date of Borrowing:

   $ _________________

B.     Consolidated EBITDA for the three fiscal-quarter period ending as of the
last day of the most recent fiscal quarter preceding the Date of Borrowing for
which the Agent has received the Required Financial Information:

   $ _________________

C.     Projected Consolidated EBITDA for the applicable fiscal quarter with
respect to which the Parent has provided the Projected Consolidated EBITDA:

   $ _________________

D.     Pro Forma EBITDA (Sum of Lines B + C):

   $ _________________

E.     Pro Forma Leverage Ratio (Line A ÷ Line D):

     __________ to 1.00

F.      Line E shall not exceed the then applicable ratio set forth in Section
7.11 (a) (set forth below) for the last day of the applicable fiscal quarter
with respect to which the Parent has provided the Projected Consolidated EBITDA:

      

 

Section 7.11 (a) Leverage Ratio. The Credit Parties shall not permit the
Leverage Ratio as of the last day of any fiscal quarter of the Consolidated
Parties to be greater than:

 

Fiscal Year

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

 

March 31

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

 

June 30

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

 

September 30

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

 

December 31

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

2003

  1.50   1.50   1.50   2.50

2004

  2.50   2.75   3.25   3.25

2005

  3.00   2.50   2.25   2.00

2006

  2.00   1.75   1.50   1.50

2007 and Thereafter

  1.50   1.50   1.50   1.50

 

AMN HEALTHCARE, INC.

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

Annex II to Amendment No. 6

 

Exhibit 3.2

 

FORM OF NOTICE OF EXTENSION/CONVERSION

 

Bank of America, N. A.,

    as Agent for the Lenders

101 North Tryon Street

Independence Center, 15th Floor

NCI-001-15-04

Charlotte, North Carolina 28255

Attention: Agency Services

 

Ladies and Gentlemen:

 

The undersigned, AMN HEALTHCARE, INC. (the “Borrower”), refers to the Amended
and Restated Credit Agreement dated as of November 16, 2001 (as amended,
modified, restated or supplemented from time to time, the “Credit Agreement”),
among the Borrower, the Guarantors, the Lenders and Bank of America, N. A., as
Agent. Capitalized terms used herein and not otherwise defined herein shall have
the meanings assigned to such terms in the Credit Agreement. The Borrower hereby
gives notice pursuant to Section 3.2 of the Credit Agreement that it requests an
extension or conversion of a [Revolving Loan] [Tranche B Loan] outstanding under
the Credit Agreement, and in connection therewith sets forth below the terms on
which such extension or conversion is requested to be made:

 

(A)   Loan Type/Tranche

    

(B)   Date of Extension or Conversion

(which is the last day of the

the applicable Interest Period)

    

(C)   Principal Amount of Extension or Conversion

    

(D)   Interest rate basis

    

(E)   Interest Period and the last day thereof

    

 

AMN HEALTHCARE, INC.

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

In accordance with the requirements of Section 5.2, the Borrower hereby
reaffirms the representations and warranties set forth in the Credit Agreement
as provided in clause (b) of such Section, and confirms that the matters
referenced in clauses (c), (d), (e) and (f) of such Section, are true and
correct. Delivered herewith are detailed calculations demonstrating compliance
by the Borrower with clause (f) of Section 5.2 as of the Date of Extension or
Conversion set forth in subsection (B) of this Notice of Extension/Conversion.

 

AMN HEALTHCARE, INC. By:    

Name:

   

Title:

   

 

AMN HEALTHCARE, INC.

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

Attachment to Notice of Extension/Conversion

 

Computation of the Section 5.2(f)

 

A.     Funded Indebtedness of the Consolidated Parties on a consolidated basis
on the Date of Extension or Conversion:

   $                              

B.     Consolidated EBITDA for the three fiscal-quarter period ending as of the
last day of the most recent fiscal quarter preceding the Date of Extension or
Conversion for which the Agent has received the Required Financial Information:

   $                              

C.     Projected Consolidated EBITDA for the applicable fiscal quarter with
respect to which the Parent has provided the Projected Consolidated EBITDA:

   $                              

D.     Pro Forma EBITDA (Sum of Lines B + C):

   $                              

E.     Pro Forma Leverage Ratio (Line A ÷  Line D):

                      to 1.00

F.      Line E shall not exceed the then applicable ratio set forth in Section
7.11 (a) (set forth below) for the last day of the applicable fiscal quarter
with respect to which the Parent has provided the Projected Consolidated EBITDA:

    

 

Section 7.11 (a) Leverage Ratio. The Credit Parties shall not permit the
Leverage Ratio as of the last day of any fiscal quarter of the Consolidated
Parties to be greater than:

 

Fiscal Year

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

   March 31

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

   June 30

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

   September 30

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

   December 31

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

2003

   1.50    1.50    1.50    2.50

2004

   2.50    2.75    3.25    3.25

2005

   3.00    2.50    2.25    2.00

2006

   2.00    1.75    1.50    1.50

2007 and Thereafter

   1.50    1.50    1.50    1.50

 

AMN HEALTHCARE, INC.