exv10w7



 




Exhibit 10.7

FLOWSERVE CORPORATION




THIRD AMENDMENT TO CREDIT AGREEMENT




FIRST AMENDMENT TO PLEDGE AGREEMENT




          This THIRD AMENDMENT TO CREDIT AGREEMENT and FIRST AMENDMENT TO PLEDGE AGREEMENT (this
“Amendment”) is dated as of August 7, 2007 and entered into by and among Flowserve Corporation, a
New York corporation (“Company”), the financial institutions party hereto and Bank of America,
N.A., a national banking association, as administrative agent for Lenders (in such capacity,
“Administrative Agent”), and, solely for purposes of Sections 2 and 3 hereof, the Credit Support
Parties (as defined in Section 3 hereof), and is made with reference to (i) that certain Credit
Agreement dated as of August 12, 2005, as amended to the date hereof (as so amended, the “Credit
Agreement”), by and among Company, the financial institutions from time to time party thereto
(collectively, “Lenders” and individually, a “Lender”), Bank of America, N.A., as Swingline Lender,
Administrative Agent and Collateral Agent for Lenders, and Banc of America Securities, LLC, and
Merrill Lynch Capital Corporation, as Joint Lead Arrangers, and (ii) that certain Pledge Agreement
dated as of August 12, 2005, as amended or supplemented as of the date hereof (as so amended or
supplemented, the “Pledge Agreement”), by and among Company, each Subsidiary of Company party
thereto and Bank of America, N.A., as collateral agent for the Secured Parties. Capitalized terms
used herein without definition shall have the same meanings herein as set forth in the Credit
Agreement.



RECITALS




          WHEREAS, Company and Lenders desire to amend the Credit Agreement on, and subject to, the
terms, conditions and agreements set forth herein, to (i) reduce interest rates applicable to the
Revolving Loans, (ii) to extend the maturity of the Revolving Loans and (iii) make certain other
amendments as set forth below;



          WHEREAS, Company and the Credit Support Parties desire to amend the Pledge Agreement on, and
subject to, the terms, conditions and agreements set forth herein, to clarify that a pledge of
equity of a Foreign Subsidiary is not required to the extent that to do so would cause adverse tax
consequences to the Company; and



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



Third Amendment to Credit Agreement




1









 








          Section 1. AMENDMENTS TO THE CREDIT AGREEMENT




	1.1	 	Amendments to Article 1: Definitions





          A. Section 1.01 of the Credit Agreement is hereby amended by adding to Section 1.01 the
following definitions, which shall be inserted in proper alphabetical order:




     ”Third Amendment” means that certain Third Amendment to this Agreement dated as of
August 7, 2007.




     ”Third Amendment Effective Date” has the meaning assigned to that term in the Third
Amendment, provided that such date shall be no later than August 7, 2007.



          B. The definition of “Applicable Percentage” set forth in Section 1.01 of the Credit Agreement
is hereby amended by deleting the last four columns of the table contained therein under the
headings “Euro Rate Spread — Revolving Loans”, “Financial Letters of Credit”, “Performance Letters
of Credit” and “Commitment Fee”, and inserting the following additional table immediately
thereafter:



	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Euro Rate	 	 	 	 	 	 
	 	 	Spread –	 	Financial	 	Performance	 	 
	 	 	Revolving	 	Letters of	 	Letters of	 	Commitment
	Leverage Ratio	 	Loans	 	Credit	 	Credit	 	Fee
	Category 1
Greater than or
equal to 2.75 to
1.00
	 	 	1.50	%	 	 	1.50	%	 	 	0.75	%	 	 	0.35	%
	Category 2
Greater than or
equal to 2.00 to
1.00 but less than
2.75 to 1.00
	 	 	1.25	%	 	 	1.25	%	 	 	0.625	%	 	 	0.30	%
	Category 3
Greater than or
equal to 1.25 to
1.00 but less than
2.00 to 1.00
	 	 	1.00	%	 	 	1.00	%	 	 	0.50	%	 	 	0.25	%
	Category 4
Less than 1.25 to
1.00
	 	 	0.875	%	 	 	0.875	%	 	 	0.4375	%	 	 	0.20	%






          C. The definition of “Asset Sale” set forth in Section 1.01 of the Credit Agreement is
hereby amended by deleting the last sentence of such definition.



Third Amendment to Credit Agreement





2









 








          D. The definition of “Consolidated EBITDA” set forth in Section 1.01 of the Credit Agreement
is hereby amended by deleting the phrase “redemption of the Subordinated Notes” in clause (v)
thereof and substituting “repayment of Indebtedness” therefor.



          E. The definition of “Capital Expenditures” set forth in Section 1.01 of the Credit Agreement
is hereby amended by deleting clause (i) of the proviso contained therein and substituting the
following therefor: “(i) net cash proceeds of Asset Sales reinvested in productive assets of a
kind then used or usable in the business of the Company and its Subsidiaries and”.



          F. The definition of “Excess Cash Flow” set forth in Section 1.01 of the Credit Agreement is
hereby deleted in its entirety.



          G. The definition of “Incremental Receivables Program Indebtedness” set forth in Section 1.01
of the Credit Agreement is hereby deleted in its entirety.



          H. The definition of “Net Cash Proceeds” set forth in Section 1.01 of the Credit Agreement is
hereby deleted in its entirety.



          I. The definition of “Net Insurance/Condemnation Proceeds” set forth in Section 1.01 of the
Credit Agreement is hereby amended by (i) substituting “$50,000,000” for “$5,000,000” therein, and
(ii) substituting “360” for “270” in clauses (x) and (y) thereof.



          J. The definition of “New Unsecured Debt” set for in Section 1.01 of the Credit Agreement is
hereby amended by deleting clause (iv) thereof in its entirety and renumbering the remaining
clauses set forth therein.



          K. The definition of “Revolving Credit Maturity Date” set forth in Section 1.01 of the Credit
Agreement is hereby deleted in its entirety and replaced with the following:



          ”Revolving Credit Maturity Date” shall mean August 12, 2012.




	1.2	 	Amendments to Article 2: The Credits





          A. Section 2.13 of the Credit Agreement is hereby amended by (i) deleting the text in clauses
(b), (c), (d) and (e) in its entirety, and inserting therefor after each such subsection
"[Reserved]”.



          B. Section 2.21(a) (iv) of the Credit Agreement is hereby amended by deleting the following
language in clause (z) thereof: “(z) in the case of a Non-Consenting Lender, the assignee shall
provide the applicable consent at the time of the assignment and the Company shall require all
other Non-Consenting Lenders to assign their interests, rights and obligations under this
Agreement;” to the first proviso of such clause and inserting the following therefor:




“(z) in the case of a Non-Consenting Lender, the assignee shall provide the applicable
consent at the time of the assignment pursuant to an assignment agreement that may be
executed by the Administrative Agent on behalf of such Non-Consenting Lender and the



Third Amendment to Credit Agreement





3









 









Company shall require all other Non-Consenting Lenders to assign their interests, rights and
obligations under this Agreement;”.




	1.3	 	Amendments to Article 5: Company’s Affirmative Covenants





          A. Section 5.04(c) of the Credit Agreement is hereby amended by deleting the following text “,
and, in the case of a certificate delivered with the financial statements required by paragraph (a)
above, setting forth the Company’s calculation of Excess Cash Flow”.



          B. Section 5.09 of the Credit Agreement is hereby amended by inserting the following sentence
after the third sentence of such Section:




“Notwithstanding the provisions above in this Section 5.09, no Foreign Subsidiary shall be
required to execute and deliver the Guarantee Agreement or the Security Documents, and (ii)
no capital stock or other equity interests of a Foreign Subsidiary shall be required to be
pledged pursuant to the Pledge Agreement, in each case to the extent material adverse Tax
consequences to the Company could reasonably be expected to result therefrom, it being
understood and agreed that a pledge by the Company or a Domestic Subsidiary of 65% of the
capital stock or other equity interests of a Foreign Subsidiary will not cause material
adverse Tax consequences to the Company.”.



          C. Section 5.10 of the Credit Agreement is hereby amended by deleting the text of such Section
and substituting “[Reserved]” therefor.




	1.4	 	Amendments to Article 6: Company’s Negative Covenants





          A. Section 6.04(a) of the Credit Agreement is hereby amended by deleting clause (ii)(B)
thereof in its entirety and substituting the following therefor:




“(B) the aggregate amount of equity investments made after the Closing Date pursuant to this
clause (ii) by Loan Parties in Subsidiaries that are not Loan Parties shall not exceed
$50,000,000 at any time outstanding;”.



          B. Section 6.04(d) of the Credit Agreement is hereby amended by substituting “$125,000,000”
for “$75,000,000” in clause (ii) thereof.



          C. Section 6.04(g) of the Credit Agreement is hereby amended by deleting clause (i) thereof.



          D. Section 6.04(h) of the Credit Agreement is hereby amended by in inserting “and”
immediately after “(C)” and deleting the following text contained therein:




“; and (D) the aggregate of the consideration paid in connection with all such acquisitions
(including any Indebtedness of the Acquired Entity that is assumed by the Company or any
Subsidiary following such acquisition) shall not exceed (w) if the Company’s Leverage Ratio
calculated as provided under clause (iii) (B) above is greater than 3.0 to



Third Amendment to Credit Agreement




4









 









1.0, $50,000,000 in any fiscal year of the Company, (x) if the Company’s Leverage Ratio
calculated as provided under clause (iii) (B) above is equal to or less than 3.0 to 1.0 but
greater than 2.0 to 1.0, $100,000,000 in any fiscal year of the Company, (y) if the
Company’s Leverage Ratio calculated as provided under clause (iii) (B) above is equal to or
less than 2.0 to 1.0, $150,000,000 in any fiscal year of Company, and (z) $500,000,000 for
all such acquisitions, provided, that the amounts may be increased by the amount of
consideration for any such acquisition consisting solely of, or paid with the Net Cash
Proceeds from the issuance of, common stock of the Company”.



          E. Section 6.05(b) of the Credit Agreement is hereby amended by substituting “$30,000,000” for
“$20,000,000” in clause (ii) thereof.



          F. Section 6.06(a)(v) of the Credit Agreement is hereby amended by deleting the following text
contained therein:




“(v) the Company and its Subsidiaries may make Restricted Payments in an amount not to
exceed in the aggregate the sum of (a) $50,000,000 plus (b) 50% of the Consolidated Net
Income accrued during the period (treated as one accounting period) from October 31, 2005 to
the end of the most recent fiscal quarter for which financial statements have been delivered
to the Lenders pursuant to Section 5.04(a) or Section 5.04(b) prior to the date of such
Restricted Payment plus (c) 100% of the Net Cash Proceeds of any Equity Issuance of Company
common stock after the Closing Date not required to be used to prepay the Loans pursuant to
Section 2.13(c) or used to finance a Permitted Acquisition.”;




and substituting the following text therefor:




“(v) the Company and its Subsidiaries may make Restricted Payments so long as (i) no Event
of Default or Default shall have occurred and be continuing or would result therefrom, and
(ii) the Company is and would be in compliance with the maximum Leverage Ratio covenant set
forth in Section 6.12 as of the most recently completed period of four consecutive fiscal
quarters ending prior to such transaction for which the financial statements and
certificates required by Section 5.04(a) or Section 5.04(b) have been delivered or for which
comparable financial statements have been filed with the Securities and Exchange Commission,
after giving pro forma effect to such transaction and to any other event occurring after
such period as to which pro forma recalculation is appropriate as if such transaction had
occurred as of the first day of such period.”.



          G. Section 6.10 of the Credit Agreement is hereby amended by deleting the text of such Section
and substituting “[Reserved]” therefor.



          H. Section 6.12 of the Credit Agreement is hereby amended by deleting it in its entirety and
substituting the following therefor:



Third Amendment to Credit Agreement





5









 









     “Section 6.12. Maximum Leverage Ratio. Permit the Leverage Ratio as of the end of
any fiscal quarter to be greater than 3.25:1.00.”.



          Section 2. AMENDMENT TO THE PLEDGE AGREEMENT




	2.1	 	Amendment to Section 1: Pledge





          A. Section 1 of the Pledge Agreement is hereby amended by inserting the following paragraph
after the first paragraph thereof:




          “Notwithstanding anything herein to the contrary, no Foreign Subsidiary shall be
required to execute and deliver this Agreement, and (ii) no Equity Interests of a Foreign
Subsidiary shall be required to be pledged pursuant to this Agreement, in each case to the
extent material adverse Tax consequences to the Company could reasonably be expected to
result therefrom; it being understood and agreed that a pledge by the Company or a Domestic
Subsidiary of 65% of the Equity Interests of a Foreign Subsidiary will not cause material
adverse Tax consequences to the Company.”.



          Section 3. ACKNOWLEDGEMENT AND CONSENT



     Each of Company and each Guarantor (each individually a “Credit Support Party” and
collectively, the “Credit Support Parties”) has read this Amendment and consents to the terms
hereof and further hereby confirms and agrees that, notwithstanding the effectiveness of this
Amendment, the guarantees and other obligations of such Credit Support Party under, and the Liens
granted by such Credit Support Party as collateral security for the indebtedness, obligations and
liabilities evidenced by the Credit Agreement and the other Loan Documents pursuant to, each of the
Loan Documents to which such Credit Support Party is a party shall not be impaired by this
Amendment and each of the Loan Documents to which such Credit Support Party is a party is, and
shall continue to be, in full force and effect and is hereby confirmed and ratified in all
respects.



     Each Guarantor acknowledges and agrees that (i) notwithstanding the conditions to
effectiveness set forth in this Amendment, such Guarantor is not required by the terms of the
Credit Agreement or any other Loan Document to consent to the amendments to the Credit Agreement
effected pursuant to this Amendment and (ii) nothing in the Credit Agreement, this Amendment or any
other Loan Document shall be deemed to require the consent of such Guarantor to any future
amendments to the Credit Agreement.



          Section 4. CONDITIONS TO EFFECTIVENESS



          This Amendment shall become effective only upon the satisfaction of all of the following
conditions precedent (the date of satisfaction of such conditions being referred to herein as the
“Amendment Effective Date”):



Third Amendment to Credit Agreement




6









 








          A. Corporate Documents. On or before the Amendment Effective Date, Company shall, and shall
cause each other Loan Party to, deliver to Lenders (or to Administrative Agent for Lenders with
sufficient originally executed copies, where appropriate, for each Lender), with respect to Company
or such other Loan Party, as the case may be, the following:




          1. A good standing certificate from the Secretary of State of such Loan Party’s
jurisdiction of organization, dated a recent date prior to the Amendment Effective Date;




          2. An officer’s certificate from the corporate secretary or assistant secretary of each
Loan Party, in form and substance reasonably satisfactory to Administrative Agent and dated
the Amendment Effective Date, certifying that (1) the organizational documents, (2) the
resolutions of the board of directors or other governing body and (3) the signature and
incumbency certificate of such Loan Party, in each case as delivered or reaffirmed to
Administrative Agent on the Closing Date, are in full force and effect and have not been
amended or modified in any respect since the Closing Date; and



          B. Amendment. Administrative Agent shall have received from (i) the Required Lenders; (ii)
each Lender having Revolving Credit Commitments; and (iii) the Company and the other Credit Support
Parties, (1) a counterpart of this Amendment signed on behalf of such party or (2) written evidence
satisfactory to Administrative Agent (which may include an electronic PDF of a signed signature
page of this Amendment) that such party has signed a counterpart of this Amendment.



          C. Pledge Supplement. Administrative Agent shall have received a fully executed Supplement
No. 1 to the Pledge Agreement, in form and substance satisfactory to the Administrative Agent, and
Company shall have delivered to Agent any stock certificates and stock powers required under the
Loan Documents in connection therewith.



          D. Intercompany Note. Administrative Agent shall have received a fully executed amendment to
or amendment and restatement of the Global Intercompany Note issued by Company on August 12, 2005,
in form satisfactory to the Administrative Agent.



          E. Opinion of Counsel. Lenders shall have received copies of a favorable written opinion of
John M. Nanos, Vice President — Strategic Transactions Counsel of the Company, in form and
substance reasonably satisfactory to Administrative Agent and its counsel, dated as of the
Amendment Effective Date, with respect to the due authorization, execution, delivery and
enforceability of the Amendment, and the Credit Agreement and Pledge Agreement, as amended by this
Amendment (collectively, the “Amendment Documents”) and no conflict with organizational documents,
law, governmental orders and material agreements.



          F. Litigation. No action, suit, investigation, litigation or proceeding by any entity
(private or governmental) before any court, arbitration or governmental authority shall be pending
or, to the knowledge of Company, threatened with respect to this Amendment, any other



Third Amendment to Credit Agreement




7









 








Loan Document or any other documentation executed in connection herewith or with respect to
the transactions contemplated hereby, or which could reasonably be expected to have a Material
Adverse Effect.



          G. Fees and Expenses. Administrative Agent shall have received all of Administrative Agent’s
reasonable costs and expenses as described in Section 9.05 of the Credit Agreement incurred by
Administrative Agent (including, without limitation, the reasonable fees and disbursements of
O’Melveny & Myers LLP) in connection with this Amendment, the Amendment Documents and the documents
and transactions related hereto, and any fees separately agreed upon between Company and
Administrative Agent.



          H. Completion of Proceedings. On or before the Amendment Effective Date, all corporate and
other proceedings taken or to be taken in connection with the transactions contemplated hereby and
all documents incidental thereto not previously found acceptable by Administrative Agent, acting on
behalf of Lenders, and its counsel shall be satisfactory in form and substance to Administrative
Agent and such counsel, and Administrative Agent and such counsel shall have received all such
counterpart originals or certified copies of such documents as Administrative Agent may reasonably
request.



          Section 5. COMPANY’S REPRESENTATIONS AND WARRANTIES



          In order to induce Lenders and the Agents to enter into this Amendment and to amend the Credit
Agreement and Pledge Agreement in the manner provided herein, Company represents and warrants to
each Lender that the following statements are true, correct and complete:



          A. Authorization; Binding Obligations. Each Loan Party has all requisite organizational power
and authority to enter into the Amendment Documents to which it is party. The execution, delivery
and performance of the Amendment Documents to which its is party have been duly authorized by all
necessary corporate action by each Loan Party. The Amendment Documents have been duly executed and
delivered by each Loan Party party thereto and are the legally valid and binding obligations of
such Loan Party, enforceable against such Loan Party in accordance with its terms, except as
enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws
relating to or limiting creditors’ rights generally and by equitable principles relating to
enforceability.



          B. No Conflict. The execution and delivery by the Loan Parties of the Amendment Documents
will not (i) violate any provision of any law or any governmental rule or regulation applicable to
the Loan Documents, the organizational documents of the Loan Parties or any order, judgment or
decree of any court or other agency of government binding on the Loan Parties, (ii) conflict with,
result in a breach of or constitute (with due notice or lapse of time or both) a default under any
contractual obligation of any Loan Party, (iii) result in or require the creation or imposition of
any Lien upon any of the properties or assets of any Loan Party (other than Liens created under any
of the Loan Documents in favor of the Collateral Agent on behalf



Third Amendment to Credit Agreement




8









 








of Lenders), or (iv) require any approval of stockholders or any approval or consent of any
Person under any contractual obligation of any Loan Party, except for such approvals or consents
which will be obtained on or before the Amendment Effective Date and disclosed in writing to
Lenders.



          C. Governmental Consents. The execution and delivery the Loan Parties of the Amendment
Documents do not and will not require any registration with, consent or approval of, or notice to,
or other action to, with or by, any federal, state or other Governmental Authority or regulatory
body.



          D. Incorporation of Representations and Warranties From Credit Agreement. The representations
and warranties contained in Article III of the Credit Agreement and Section 3 of the Pledge
Agreement are and will be true, correct and complete in all material respects on and as of the
Amendment Effective Date to the same extent as though made on and as of that date, except to the
extent such representations and warranties specifically relate to an earlier date, in which case
they were true, correct and complete in all material respects on and as of such earlier date.



          E. Absence of Default. No event has occurred and is continuing or will result from the
consummation of the transactions contemplated by this Amendment that would constitute an Event of
Default or a Default after giving effect to this Amendment.



          Section 6. MISCELLANEOUS



          A. Reference to and Effect on the Credit Agreement and the Other Loan Documents.




     (i) On and after the Amendment Effective Date, each reference in the Credit Agreement
to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring to
the Credit Agreement, and each reference in the other Loan Documents to the “Credit
Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit
Agreement shall mean and be a reference to the Credit Agreement, as amended by this
Amendment.




     (ii) On and after the Amendment Effective Date, each reference in the Pledge Agreement
to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring to
the Pledge Agreement, and each reference in the other Loan Documents to the “Pledge
Agreement”, “thereunder”, “thereof” or words of like import referring to the Pledge
Agreement shall mean and be a reference to the Pledge Agreement, as amended by this
Amendment.




     (iii) Except as specifically amended by this Amendment, the Credit Agreement, the
Pledge Agreement and the other Loan Documents shall remain in full force and effect and are
hereby ratified and confirmed.



Third Amendment to Credit Agreement





9









 









     (iv) The execution, delivery and performance of this Amendment shall not, except as
expressly provided herein, constitute a waiver of any provision of, or operate as a waiver
of any right, power or remedy of Administrative Agent or any Lender under, the Credit
Agreement, the Pledge Agreement or any of the other Loan Documents.



          B. Fees and Expenses. Company acknowledges that all costs, fees and expenses as described in
subsection 9.05 of the Credit Agreement incurred by Administrative Agent and its counsel with
respect to this Amendment and the documents and transactions contemplated hereby shall be for the
account of Company.



          C. Headings. Section and subsection headings in this Amendment are included herein for
convenience of reference only and shall not constitute a part of this Amendment for any other
purpose or be given any substantive effect.



          D. Applicable Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER
SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF
THE STATE NEW YORK (INCLUDING WITHOUT LIMITATION SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF
THE STATE OF NEW YORK), WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES.



          E. Counterparts; Effectiveness. This Amendment may be executed in any number of counterparts
and by different parties hereto in separate counterparts, each of which when so executed and
delivered shall be deemed an original, but all such counterparts together shall constitute but one
and the same instrument; signature pages may be detached from multiple separate counterparts and
attached to a single counterpart so that all signature pages are physically attached to the same
document.



[Remainder of page intentionally left blank]




Third Amendment to Credit Agreement




10









 








          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their respective officers thereunto duly authorized as of the date first written
above.



	 	 	 	 	 
	 	BANK OF AMERICA, N.A.,

as the Administrative Agent, Collateral

Agent, Swingline Lender, Issuing Bank and 

Lender

 	 
	 	By:  	/s/ Colleen M. Briscoe
 	 
	 	Name: 	Colleen M. Briscoe 	 
	 	Title:	Senior Vice President 	 
	 
	 	FLOWSERVE CORPORATION

 	 
	 	By:  	/s/ Paul W. Fehlman
 	 
	 	Name:	Paul W. Fehlman 	 
	 	Title:	Vice President and Treasurer 	 
	 



CREDIT SUPPORT PARTIES

(for purposes of Sections 2 and 3):




	 	 	 	 	 
	 	FLOWSERVE US INC.

FLOWSERVE INTERNATIONAL, INC.

FLOWSERVE MANAGEMENT COMPANY

BW/IP-NEW MEXICO, INC.

FLOWSERVE HOLDINGS, INC.

PMV-USA, INC.

 	 
	 	By:  	/s/ John M. Nanos
 	 
	 	Name: 	John M. Nanos 	 
	 	Title:	Vice President 	 
	 



Third Amendment to Credit Agreement





11









 








ADDITIONAL CREDIT SUPPORT PARTY

(for purposes of Sections 2 and 3):




	 	 	 	 	 
	 	FLOWSERVE HOLDINGS II LLC

 	 
	 	By:  	/s/ John M. Nanos
 	 
	 	Name: 	John M. Nanos 	 
	 	Title:	Vice President 	 
	 



Third Amendment to Credit Agreement















 








	 	 	 	 	 
	 	                                        , as Lender

 	 
	 	By:  	/s/ Required Lenders
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 



Third Amendment to Credit Agreement