Document:

<PAGE>   1
                                                                   Exhibit 10.55
                      SECOND AMENDMENT TO CREDIT AGREEMENT

         THIS SECOND AMENDMENT TO CREDIT AGREEMENT, dated as of February 9, 2001
(this "Amendment"), amends the Credit Agreement, dated as of March 17, 1999 (as
heretofore amended the "Credit Agreement"), among Phoenix Investment Partners,
Ltd. (the "Company"), Phoenix Home Life Mutual Insurance Company (the
"Guarantor"), Bank of America, N.A. (formerly known as Bank of America National
Trust and Savings Association), as Administrative Agent (the "Agent"), Deutsche
Bank AG, New York Branch, as Syndication Agent, The Bank of New York, as
Documentation Agent and certain financial institutions (the "Banks"). Terms
defined in the Credit Agreement are, unless otherwise defined herein or the
context otherwise requires, used herein as defined therein.

         WHEREAS, the parties hereto have entered into the Credit Agreement,
which provides for the Banks to extend certain credit facilities to the Company
from time to time; and

         WHEREAS, the parties hereto desire to amend the Credit Agreement in
certain respects;

         NOW, THEREFORE, in consideration of the premises and for other good and
valuable consideration (the receipt and sufficiency of which are hereby
acknowledged), the parties hereto agree as follows:

         SECTION 1 AMENDMENT. Effective as of the date hereof, the Credit
Agreement shall be amended in accordance with Sections 1.1 through l.5 below.

         1.1 EBITDA. The definition of "EBITDA" in Section 1.1 of the Credit
Agreement is hereby amended to state in its entirety as follows:

                  "EBITDA" means, with respect to the Company and its
         Subsidiaries, as the end of any fiscal quarter for the four fiscal
         quarters then ending, earnings before interest, taxes, depreciation and
         amortization, calculated in accordance with GAAP; provided, that, for
         any four fiscal quarter period in which the Zweig Acquisition shall
         have occurred, EBITDA shall be calculated on a pro forma basis as if
         such acquisition had occurred on the first day of such period; and
         provided further that, for any calculation including the fiscal quarter
         ended March 31, 2001, Privatization Expenses shall be added back to
         earnings, to the extent deducted in calculating earnings.

         1.2 Privatization Expenses. The following definition of "Privatization
Expenses" shall be added to Section 1.1 of the Credit Agreement in proper
alphabetical order:

                  "'Privatization Expenses' means expenses not to exceed
         $55,000,000 in respect of payments in liquidation of outstanding
         options on stock of the Company, expenses up to $52,000,000 resulting
         from the conversion or payment of subordinated debentures and
<PAGE>   2
         miscellaneous other privatization expenses up to $15,000,000. All such
         expenses must be incurred between January 1, 2001 and February 20, 2001
         to constitute Privatization Expenses."

         1.3 Shareholders' Equity. The definition of "Shareholders' Equity" in
Section 1.1 of the Credit Agreement shall be amended to state in its entirety as
follows:

                  "'Shareholders' Equity' means shareholders' equity determined
         in accordance with GAAP plus Privatization Expenses, to the extent
         Privatization Expenses were deducted in calculating Shareholders'
         Equity."

         1.4 Total Debt to Capital Ratio. Section 9.3 of the Credit Agreement
is hereby amended to state in its entirety as follows:

         "9.3 Total Debt to Capital Ratio. The Company shall maintain a Total
Debt to Capital Ratio of not in excess of the following percentages at any time
during the following period:

         Percentage                  Periods

         58.5%                       January 1, 2001 through September 28, 2001

         52.5%                       September 29, 2001 and thereafter."

         1.5 Senior Debt to EBITDA Ratio. Section 9.4 of the Credit Agreement is
hereby amended to state in its entirety as follows:

         "9.4 Senior Debt to EBITDA Ratio. The Company shall maintain a Senior
         Debt to EBITDA Ratio of not in excess of the following amounts during
         the following periods:

         Amount                      Periods

         3.0 to 1                    January 1, 2001 through September 28, 2001

         2.0 to 1                    September 29, 2001 and thereafter."

         SECTION 2 CONDITIONS PRECEDENT. This Amendment shall become effective
when each of the conditions precedent set forth in this Section 3 shall have
been satisfied, and notice thereof shall have been given by the Administrative
Agent to the Company, the Guarantor and the Banks.

         2.1 Receipt of Documents. The Administrative Agent shall have received
all of the following documents duly executed, dated the date hereof or such
other date as shall be

                                       2
<PAGE>   3
acceptable to the Administrative Agent, and in form and substance satisfactory
to the Administrative Agent:

                  (a) Amendment. This Amendment, duly executed by the Borrower,
         the Guarantor, the Administrative Agent and the Majority Banks.

                  (b) Company Secretary's Certificate. A certificate of the
         secretary or an assistant secretary of the Company, as to (i)
         resolutions of the Board of Directors of the Company then in full force
         and effect authorizing the execution, delivery and performance of this
         Amendment and each other document described herein, and (ii) the
         incumbency and signatures of those officers of the Company authorized
         to act with respect to this Amendment and each other document described
         herein.

                  (c) Guarantor Secretary's Certificate. A certificate of the
         secretary or an assistant secretary of the Guarantor, as to (i)
         resolutions of the Board of Directors of the Guarantor then in full
         force and effect authorizing the execution, delivery and performance of
         this Amendment and each other document described herein, and (ii) the
         incumbency and signatures of those officers of the Guarantor authorized
         to act with respect to this Amendment and each other document described
         herein.

                  (d) Opinion of Counsel. An opinion, addressed to the
         Administrative Agent and all Banks, from counsel to the Company and the
         Guarantor, in form satisfactory to the Administrative Agent.

         2.2 Compliance with Warranties, No Default, etc. Both before and after
giving effect to the effectiveness of this Amendment, the following statements
by the Company and the Guarantor shall be true and correct (and the Company and
the Guarantor, by their execution of this Amendment, hereby represent and
warrant to the Administrative Agent and each Bank that such statements are true
and correct as at such times):

                  (a) the representations and warranties set forth in Article V
         of the Credit Agreement shall be true and correct with the same effect
         as if then made (unless stated to relate solely to an earlier date, in
         which case such representations and warranties shall be true and
         correct as of such earlier date); and

                  (b) no Default or Event of Default shall have then occurred
         and be continuing.

         2.3 Amendment Fee. The Company shall have paid each Bank an amendment
fee of $5,000 and shall, in addition, have paid the Administrative Agent for its
own account an amendment fee in the amount set forth in its fee letter dated the
date hereof.

                                       3
<PAGE>   4
         SECTION 3 REPRESENTATIONS AND WARRANTIES. To induce the Banks and the
Administrative Agent to enter into this Amendment, the Borrower and the
Guarantor hereby represent and warrant to the Administrative Agent and each Bank
as follows:

         3.1 Due Authorization. Non-Contravention, etc. The execution, delivery
and performance by the Company and the Guarantor of this Amendment are within
the corporate powers of the Company and the Guarantor, have been duly authorized
by all necessary corporate action, and do not

                  (a) contravene the Organization Documents of the Company or
         the Guarantor;

                  (b) contravene any contractual restriction, law or
         governmental regulation or court decree or order binding on or
         affecting the Company or the Guarantor; or

                  (c) result in, or require the creation or imposition of, any
         Lien on any properties of the Company or the Guarantor.

         3.2 Government Approval, Regulation, etc. No authorization or approval
or other action by, and no notice to or filing with, any governmental authority
or regulatory body or other Person is required for the due execution, delivery
or performance by the Company and the Guarantor of this Amendment.

         3.3 Validity, etc. This Amendment constitutes the legal, valid and
binding obligation of the Company and the Guarantor enforceable in accordance
with its terms.

         SECTION 4 MISCELLANEOUS.

         4.1 Continuing Effectiveness, etc. This Amendment shall be deemed to be
an amendment to the Credit Agreement, and the Credit Agreement, as amended
hereby, shall remain in full force and effect and is hereby ratified, approved
and confirmed in each and every respect. After the effectiveness of this
Amendment in accordance with its terms, all references to the Credit Agreement
in the Loan Documents or in any other document, instrument, agreement or writing
shall be deemed to refer to the Credit Agreement as amended hereby.

         4.2 Payment of Costs and Expenses. The Company agrees to pay on demand
all expenses of the Administrative Agent (including the fees and out-of-pocket
expenses of counsel to the Administrative Agent) in connection with the
negotiation, preparation, execution and delivery of this Amendment.

         4.3 Severability. Any provision of this Amendment which is prohibited
or unenforceable in any jurisdiction shall, as to such provision and such
jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining

                                       4
<PAGE>   5
provisions of this Amendment or affecting the validity or enforceability of such
provision in any other jurisdiction.

         4.4 Headings. The various headings of this Amendment are inserted for
convenience only and shall not affect the meaning or interpretation of this
Amendment or any provisions hereof.

         4.5 Execution in 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.

         4.6 Governing Law. THIS AMENDMENT SHALL BE DEEMED TO BE A CONTRACT MADE
UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK.

         4.7 Successors and Assigns. This Amendment shall be binding upon and
shall inure to the benefit of the parties hereto and their respective successors
and assigns.

                                       5
<PAGE>   6
         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their respective officers thereunto duly authorized as of the day
and year first above written.

                                        PHOENIX INVESTMENT PARTNERS, LTD.
                                        By: /s/ William R. Moyer
                                            ----------------------------------

                                                 WILLIAM R. MOYER
                                                 EXECUTIVE VICE PRESIDENT AND
                                        Title:   CHIEF FINANCIAL OFFICER.

                                      S-1
<PAGE>   7
                                        PHOENIX HOME LIFE MUTUAL INSURANCE
                                        COMPANY

                                        By: /s/ Raymond E. Cummings, Jr.
                                            ----------------------------------
                                            Raymond E. Cummings, Jr.
                                        Title: V.P. & Treasurer
                                               -------------------------------

                                      S-2
<PAGE>   8
                                        Administrative Agent and a Bank

                                        By: /s/ Elizabeth W.F. Bishop
                                            ---------------------------------

                                                Elizabeth W.F. Bishop
                                        Title:  Principal
                                                -----------------------------

                                      S-3
<PAGE>   9
                                        DEUTSCHE BANK AG, New York Branch
                                        as Syndication Agent and a Bank

                                        By: /s/ Susan A. Maros
                                            ---------------------------------
                                                Susan A. Maros
                                        Title:  Managing Director

                                            /s/ G. W. Korchowsky
                                            ---------------------------------
                                                George Korchowsky
                                                Vice President

                                      S-4
<PAGE>   10
                                        THE BANK OF NEW YORK,
                                        as Documentation Agent and a Bank

                                        By: /s/ Scott Buitekant
                                             ---------------------------------
                                                Scott Buitekant
                                       Title:   Vice President
                                                ------------------------------

                                      S-5
<PAGE>   11
                                         FLEET NATIONAL BANK,
                                         as a Bank

                                        By: /s/ George Urban for David Albanesi
                                             ----------------------------------
                                                George Urban for David Albanesi
                                        Title:  Portfolio Manager
                                                ------------------------------

                                      S-6

<PAGE>   12
                                        BANK OF MONTREAL,
                                         as a Bank

                                        By: /s/ Brian L. Banke
                                             ---------------------------------
                                                Brian L. Banke
                                       Title:   Director
                                                ------------------------------

                                      S-7
<PAGE>   13
                                        SUNTRUST BANK, as a Bank
                                        By: /s/ W. David Wisdom
                                            ---------------------------------
                                                W. David Wisdom

                                        Title:  Vice President
                                                -----------------------------

                                      S-8

<PAGE>   14
                                        STATE STREET BANK AND TRUST
                                        COMPANY, as a Bank
                                        By: /s/ Edward M. Anderson
                                            ---------------------------------
                                                Edward M. Anderson

                                        Title:  Vice President
                                                -----------------------------
                                      S-9<PAGE>   1

FIRST SUPPLEMENTAL INDENTURE dated as of January 10, 2001 between:

PHOENIX INVESTMENT PARTNERS, LTD., a Delaware corporation and formerly known as
Phoenix Duff & Phelps Corporation (the "Company"); and

HARRIS TRUST AND SAVINGS BANK, an Illinois State banking corporation, as trustee
(the "Trustee").

PRELIMINARY STATEMENT

The Company and the Trustee are parties to an Indenture dated as of April 1,
1998 providing for the issuance of up to $81,575,000 aggregate principal amount
of Securities due November 1, 2015 (the "Indenture").

Section 1206 of the Indenture provides that in case of any merger of another
Person into the Company, the Person resulting from such merger shall execute and
deliver to the Trustee a supplemental indenture providing that the Holder of
each Security then outstanding shall have the right thereafter, to convert such
Security into the kind and amount of securities, cash and other property
receivable upon such merger by a holder of the number of shares of Common Stock
of the Company into which such Security would have been converted immediately
prior to such merger.

On the date hereof, a subsidiary of Phoenix Home Life Mutual Insurance Company
was merged with and into the Company and in connection with such merger, each
share of Common Stock of the Company held by the Company's public stockholders
was converted into the right to receive $15.75 in cash.

The Company has requested that the Trustee enter into, and the Trustee is
willing to enter into, this First Supplemental Indenture in order to make
provision with respect to the conversion rights of Holders pursuant to the
requirements of Section 1206 of the Indenture, all on the terms and conditions
hereinafter provided.

Section 901(3) of the Indenture provides that the Company, without the consent
of the Holders, when authorized by a Board Resolution, and the Trustee, at any
time and from time to time, may enter into one or more indentures supplemental
to the Indenture to make provision with respect to the conversion rights of
Holders pursuant to the requirements of Section 1206 of the Indenture.

The Trustee has received an Opinion of Counsel stating that the execution of
this First Supplemental Indenture is authorized or permitted by the Indenture.

Section 1. DEFINITIONS. Terms used but not defined herein have the respective
meanings given to such terms in the Indenture.
<PAGE>   2
Section 2. AMENDMENTS. The Indenture shall be amended as follows:

(a)      Article Twelve of the Indenture shall be deleted in its entirety and
         the following shall be substituted therefor:

                                 "ARTICLE TWELVE

                            CONVERSION OF SECURITIES

         SECTION 1201. Right of Conversion.

         The Holder of any Security or Securities shall have the right at any
time prior to maturity, at his option, to convert, subject to the terms and
provisions of this Article, the principal of any such Security or Securities (or
any portion of the principal thereof which is $25.00 or an integral multiple of
$25.00) into cash at the rate of $48.9825 for each $25.00 principal amount of
Securities, calculated to the nearest cent (except that with respect to any
Security or Securities, or any such portion, which shall be called for
redemption, such right shall terminate at the close of business on the
Redemption Date for such Security or Securities or portion unless the Company
shall default in payment due upon redemption thereof). Such right shall be
exercised by the surrender of the Security or Securities, the principal of which
is so to be converted, to the Company at any time during regular business hours
at any office or agency to be maintained by it in accordance with the provisions
of Section 1002, accompanied by written notice that the Holder elects to convert
such Security or Securities or any portion thereof and specifying the name or
names (with address) in which a check or checks are to be issued and (if so
required by the Company or the Trustee) by a written instrument or instruments
of transfer in form satisfactory to the Company and the Trustee, duly executed
by the Holder or his attorney, duly authorized in writing and transfer tax
stamps or funds therefor, if required pursuant to Section 1210. For convenience,
the conversion of all or a portion, as the case may be, of the principal of any
Security into cash is hereinafter sometimes referred to as the conversion of
such Security. All Securities surrendered for conversion shall, if surrendered
to the Company or any conversion agent, be delivered to the Trustee for
cancellation and canceled by it or, if surrendered to the Trustee, shall be
canceled by it; and, subject to the next succeeding sentence, no Securities
shall be issued in lieu thereof. In the case of any Security which is converted
in part only, upon such conversion the Company shall execute and the Trustee
shall authenticate and deliver to the Holder thereof, at the expense of the
Company, a new Security or Securities of authorized denominations in an
aggregate principal amount equal to the unconverted portion of the principal
amount of such Security.

         SECTION 1202. Payment; Time of Conversion.

         As promptly as practicable after the surrender, as herein provided, of
any Security or Securities for conversion, the Company shall deliver or cause to
be delivered at any office or agency to be maintained by it in accordance with
the provisions of Section 1002 to or upon the written order of the Holder of the
Security or Securities so surrendered a check or checks in the amount into which
such Security or Securities (or portion thereof) may be converted in accordance
with the provisions of this Article. Such conversion shall be deemed to have
been made as of the close of business on the date that such Security or
Securities shall have been
<PAGE>   3
surrendered in satisfactory form for conversion, so that the rights of the
Holder as a Holder shall cease with respect to such Security or Securities (or
the portion thereof being converted) at such time, and such conversion shall be
at the conversion rate in effect at such time.

         If the last day for the exercise of the conversion right shall not be a
Business Day, then such conversion right may be exercised on the next succeeding
Business Day.

         SECTION 1203. No Adjustments in Respect of Interest.

         Securities surrendered for conversion during the period from the close
of business on any Regular Record Date to the opening of business on the next
succeeding Interest Payment Date shall (except in the case of Securities or
portions thereof which have been called for redemption on a Redemption Date
during such period) be accompanied by payment in funds acceptable to the Company
of an amount equal to the interest payable on such Interest Payment Date on the
principal amount of Securities being surrendered for conversion. Except as
provided in the preceding sentence and subject to the last paragraph of Section
307, no payment or adjustment shall be made upon any conversion on account of
any interest accrued on the Securities surrendered for conversion.

         SECTION 1204. [reserved]

         SECTION 1205. [reserved]

         SECTION 1206. [reserved]

         SECTION 1207. Notice of Certain Corporate Action.

         (a) In case:

                  (i) the Company shall (A) declare any dividend (or any other
         distribution) on shares of its Common Stock other than (1) a dividend
         payable in shares of Common Stock or (2) a dividend payable in cash out
         of its retained earnings other than any special or nonrecurring or
         other extraordinary dividend or (B) declare or authorize a redemption
         or repurchase of in excess of 25% of the then outstanding shares of
         Common Stock; or

                  (ii) the Company shall authorize the granting to the holders
         of its shares of Common Stock of rights or warrants entitling them to
         subscribe for or purchase any shares of capital stock of the Company or
         of any other rights or warrants; or

                  (iii) of any reclassification of the shares of Common Stock of
         the Company, or of any consolidation or merger to which the Company is
         a party and for which approval of any stockholders of the Company is
         required, or of the sale or transfer of all or substantially all of the
         assets of the Company, or of any compulsory share exchange whereby the
         Common Stock will be converted into cash or other securities or
         property; or
<PAGE>   4
                  (iv) of the voluntary or involuntary dissolution, liquidation
         or winding up of the Company;
then the Company shall cause to be filed with the Trustee and to be mailed to
each Holder of Securities at his/her last address appearing on the Security
Register, as promptly as possible, but in any event at least fifteen (15) days
prior to the applicable record date hereinafter specified, a notice stating (x)
the date on which a record is to be taken for the purpose of such dividend,
distribution, redemption or granting of rights or warrants, or, if a record is
not to be taken, the date as of which the holders of shares of Common Stock of
record to be entitled to such dividend, distribution, redemption or granting of
rights or warrants are to be determined, or (y) the date on which such
reclassification, consolidation, merger, sale, transfer, share exchange,
dissolution, liquidation or winding up is expected to become effective, and the
date as of which it is expected that holders of Common Stock of record shall be
entitled to exchange their shares of Common Stock for securities, cash or other
property deliverable upon such reclassification, consolidation, merger, sale,
transfer, share exchange, dissolution, liquidation or winding up. Such notice
shall also state whether such transaction will result in any adjustment in the
conversion rate applicable to the Securities and, if so, shall state what the
adjusted conversion rate will be and when it will become effective. Neither the
failure to give the notice required by this Section, nor any defect therein, to
any particular Holder shall affect the sufficiency of the notice or the legality
or validity of any such dividend, distribution, redemption, right, warrant,
reclassification, consolidation, merger, sale, transfer, share exchange,
liquidation, dissolution or winding-up, or the vote on any action authorizing
such with respect to the other Holders.
         (b) In case the Company or any Affiliate of the Company shall propose
to engage in a "Rule 13e-3 Transaction" as defined in Rule 13e-3 promulgated
under the Securities Exchange Act of 1934, as amended, the Company shall, no
later than the date on which any information with respect to such Rule 13e-3
Transaction is first required to be given to the Commission or any other person
pursuant to such Rule 13e-3, cause to be mailed to all Holders at their last
addresses as they shall appear on the Security Register, a copy of all
information required to be given to the Commission or such other person pursuant
to such Rule 13e-3. The information required to be given under this paragraph
shall be in addition to and not in lieu of any other information required to be
given by the Company pursuant to this Section.

         SECTION 1208. [reserved]

         SECTION 1209. [reserved]

         SECTION 1210. Taxes and Charges.

         The issuance of a check or checks upon the conversion of Securities
shall be made without charge to the converting Holder of Securities for such
check, and such check shall be issued in the respective names of, or in such
names as may be directed by, the Holders of the Securities converted; provided,
however, that the Company shall not be required to pay any tax
<PAGE>   5
which may be payable in respect of any transfer involved in the issuance and
delivery of any such check in a name other than that of the Holder of the
Security converted, and the Company shall not be required to issue or deliver
such check unless or until the Person or Persons requesting the issuance thereof
shall have paid to the Company the amount of such tax or shall have established
to the satisfaction of the Company that such tax has been paid.

         SECTION 1211. Trustee and Conversion Agents Not Liable.

         Neither the Trustee nor any conversion agent shall at any time be under
any duty or responsibility to any Holder of Securities to determine whether any
facts exist which may require any adjustment of the conversion rate, or with
respect to the nature or extent of any such adjustment when made, or with
respect to the method employed, or herein or in any supplemental indenture
provided to be employed, in making the same. Neither the Trustee nor any
conversion agent shall be accountable with respect to the validity or value (or
the kind or amount) of any shares of Common Stock or of any securities or cash
or other property which may at any time be issued or delivered upon the
conversion of any Security, or makes any representation with respect thereto.
Neither the Trustee nor any conversion agent shall be responsible for any
failure of the Company to make any cash payment or to issue, transfer or deliver
any shares of Common Stock or stock certificates or other securities or property
upon the surrender of any Security for the purpose of conversion, or, subject to
Section 601, to comply with any of the covenants of the Company contained in
this Article."

Section 3. EXECUTION, DELIVERY AND VALIDITY. The Company represents and warrants
to the Trustee that this First Supplemental Indenture has been duly and validly
executed and delivered by the Company and constitutes its legal, valid and
binding obligation, enforceable against the Company in accordance with its
terms.

Section 4. INDENTURE OTHERWISE UNCHANGED. Except as herein provided, the
Indenture shall remain unchanged and in full force and effect, and each
reference to the Indenture and words of similar import in the Indenture, as
amended hereby, shall be a reference to the Indenture as amended hereby and as
the same may be further amended, supplemented and otherwise modified and in
effect from time to time.

Section 5. BINDING EFFECT. This First Supplemental Indenture shall be binding
upon and inure to the benefit of the parties hereto and their respective
successors and assigns.

Section 6. COUNTERPARTS. This First Supplemental Indenture may be executed in
any number of counterparts, each of which so executed shall be deemed to be an
original, but all such counterparts shall together constitute but one and the
same instrument.

Section 7. GOVERNING LAW. THIS FIRST SUPPLEMENTAL INDENTURE SHALL BE CONSTRUED
IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF DELAWARE, WITHOUT
GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF LAW.
<PAGE>   6
          In witness whereof, we have set our hands as of the 10th day of
January, 2001.

PHOENIX INVESTMENT PARTNERS, LTD.

By: /s/ William R. Moyer
    -----------------------------
    Name: William R. Moyer
    Title: Executive Vice President &
           Chief Financial Officer

HARRIS TRUST AND SAVINGS BANK
as Trustee
By: /s/ D.G. Donovan
    -----------------------------
    Name: D.G. Donovan
    Title: Assistant Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}]]