Document:

Fifth Amendment and Waiver to the Second Amendment Purchase Agreement

  EXHIBIT 10.2
 FIFTH AMENDMENT AND
WAIVER TO SECOND AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENTS
 FIFTH AMENDMENT AND
WAIVER TO SECOND AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENTS dated as of March 28, 2003 (this “Amendment”) among G-P Receivables, Inc.,
as the seller (the “Seller”), Georgia-Pacific Corporation, as collection agent (the “Collection Agent”), Blue Ridge Asset Funding
Corporation (“Blue Ridge”), Corporate Receivables Corporation (“CRC”), Corporate Asset Funding Company, Inc. (“CAFCO”), Gotham Funding Corporation, as assignee of Victory Receivables Corporation (“Gotham” and, together with Blue Ridge, CRC and CAFCO, the
“Purchasers”), Citibank, N.A. (“Citibank”), The Bank of Tokyo-Mitsubishi, Ltd. (New York Branch) (“BTM”), Wachovia Bank, National Association (“Wachovia” and, together with Citibank and BTM, the “Secondary
Purchasers”) and Citicorp North America, Inc., as administrative agent (the “Administrative Agent”).
 WITNESSETH
 WHEREAS, the Seller, the Collection Agent, the Purchasers and the Administrative Agent entered into that
certain Second Amended and Restated Receivables Purchase Agreement dated as of December 19, 2001, as amended (the “Primary Purchase Agreement”);
 WHEREAS, the Seller, the Collection Agent, the Secondary Purchasers and the Administrative Agent entered into that certain Second Amended and Restated Receivables Purchase Agreement dated as of
December 19, 2001, as amended (the “Secondary Purchase Agreement” and, together with the Primary Purchase Agreement, the “Agreements”);
and
 WHEREAS, the Seller, the Collection Agent, Blue Ridge, CRC, CAFCO, Victory Receivables Corporation, Four Winds Funding Corporation, the Secondary
Purchasers, Commerzbank AG (New York Branch) and the Administrative Agent entered into that certain Fourth Amendment and Waiver to Second Amended and Restated Receivables Purchase Agreements dated as of December 6, 2002 (the “Fourth Amendment”); and
 WHEREAS, the parties hereto wish to (i) subject to the terms and conditions set forth herein,
waive the requirement of Section 5.01(j)(ix) of the Agreements that the Interim Activity Report be provided at daily intervals, (ii) extend the deadline for delivery of a Lock-Box Agreement with respect to the Lock-Box Accounts maintained with
Wachovia Bank, National Association (the “Wachovia Lock-Box Agreement”) pursuant to Section 9(a)(i) of the Fourth Amendment, (iii) permit the Seller to amend its certificate of incorporation
in the manner set forth herein and (iv) amend the Agreements in the manner and on the terms and conditions set forth herein.
 NOW, THEREFORE, in consideration
of the foregoing and of the mutual covenants herein contained, the parties hereto agree as follows:
 
 

  SECTION 1.     DEFINED TERMS.
 Unless otherwise defined herein, the capitalized terms used herein shall have the meanings assigned to such terms in the Agreements.
 SECTION 2.     WAIVER
 (a)    Notwithstanding the proviso contained in Section 5.01(j)(ix) of the Agreements, the parties hereto hereby waive the requirement that the Seller deliver the Interim Activity Report at daily
intervals. The parties hereto agree that the waiver contained in the immediately preceding sentence may be revoked by any Purchaser, any Secondary Purchaser or the Administrative Agent, effective upon two (2) Business Days’ prior written notice
(a “Revocation Notice”) to each of the other parties hereto, (i) for so long as Georgia-Pacific’s long-term senior unsecured debt rating shall be below “BB” by S&P or
“Ba2” by Moody’s or (ii) if Georgia-Pacific’s long-term senior unsecured debt rating shall be withdrawn by either S&P or Moody’s. The Purchasers, the Secondary Purchasers and the Administrative Agent hereby waive any
Event of Termination under the Agreements which has occurred or is continuing prior to the date hereof as a result of the failure of the Seller to deliver the Interim Activity Report at daily intervals prior to the date hereof. The Purchasers, the
Secondary Purchasers and the Administrative Agent hereby further agree that the failure of the Seller to provide the Interim Activity Report at daily intervals prior the effectiveness of a Revocation Notice shall be deemed not to constitute an Event
of Termination under the Agreements.
 (b)    Notwithstanding Section 9(a)(i) of the Fourth
Amendment, the parties hereto hereby agree that, solely in respect of the delivery of the Wachovia Lock-Box Agreement, each reference to the date February 28, 2003 in Section 9(a)(i) of the Fourth Amendment shall be deemed to refer instead to the
date March 28, 2003. The Purchasers, the Secondary Purchasers and the Administrative Agent hereby waive any Event of Termination under the Agreements which has occurred or is continuing prior to the date hereof as a result of the failure by the
Seller and Georgia-Pacific to deliver the Wachovia Lock-Box Agreement on or prior to February 28, 2003. For the avoidance of doubt, no such extension or waiver shall apply in respect of any Lock-Box Agreements, other than the Wachovia Lock-Box
Agreement, which were required to be delivered by the Seller and Georgia-Pacific pursuant to Section 9(a)(i) of the Fourth Amendment.
 SECTION 3.     CONSENT
 Notwithstanding Section 5.01(q) of the Agreements, the parties hereto hereby consent
to an amendment to the Seller’s certificate of incorporation in substantially the form attached hereto as Exhibit A (such amendment, the “Certificate Modification”).
 SECTION 4.     AMENDMENTS TO THE PRIMARY PURCHASE AGREEMENT.
 (a)    All references in the Primary Purchase Agreement and all agreements entered into in connection therewith to “Victory
Receivables Corporation” and “Victory” shall be deemed to be “Gotham Funding Corporation” and “Gotham”, respectively.
 

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  (b)    The following definitions in Section 1.01 of the Primary Purchase
Agreement are hereby deleted in their entirety and replaced with the following:
 “Adjusted Net
Worth” means, at any date, an amount equal to the sum of (a) the Net Worth at such date, plus (b) the Goodwill Amount, if any, plus or minus (as determined in accordance with the last sentence of this definition) (c) the cumulative sum of all OCI Pension Adjustment Amounts for all fiscal years of Georgia-Pacific commencing
with the fiscal year ended December 31, 1987 and ending with the then most recently ended fiscal year of Georgia-Pacific. For purposes of calculating Adjusted Net Worth, if such cumulative sum of all OCI Pension Adjustment Amounts is a negative
number, then such amount shall be added in the calculation thereof, and if such cumulative sum of all OCI Pension Adjustment Amounts is a positive number, then such amount shall be subtracted in the calculation thereof.
 “Asset Sales” means any sale or disposition of assets of Georgia-Pacific or any of its Subsidiaries or
series of related sales or dispositions of assets of Georgia-Pacific or any of its Subsidiaries (other than the sale of inventory in the ordinary course of business).
 “EBITDA” means, as of the end of any Measurement Period, the sum of the following, calculated for Georgia-Pacific and its Subsidiaries on a consolidated basis:
(a) net income (or net loss) for such period, plus (b) all amounts treated as expenses for depreciation, accretion, interest and the non-cash amortization of intangibles of any kind to
the extent included in the determination of such net income (or loss), plus (c) all accrued taxes on or measured by income to the extent included in the determination of such net income (or loss),
plus or minus (as determined in accordance with the last sentence of this definition) (d) the Net Cash Payments for such Measurement Period;
provided, however, that net income (or loss) shall be computed for these purposes without giving effect to extraordinary cash gains or non-recurring,
non-cash items, including any non-cash charges incurred with respect to asbestos-related liability reserves. For purposes of calculating “EBITDA”, if the Net Cash Payments is a positive number, then such amount shall be subtracted in the
calculation thereof, and if the Net Cash Payments is a negative number, then such amount shall be added in the calculation thereof.
 “Georgia-Pacific Credit Agreement” means the credit agreement dated as of November 3, 2000, as amended to March 28, 2003, among Georgia-Pacific, Bank of America, N.A., as issuing bank
and administrative agent for itself and the lenders, and the other financial institutions party thereto. 
 “Indebtedness for Borrowed Money” of any Person means, without duplication,
 (a)             all indebtedness for such Person for borrowed money, excluding all indebtedness or obligations of Georgia-Pacific arising under the Premium
Equity Participating Security Units, whether or not treated as indebtedness under GAAP; provided, however, that on and after August
 

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  16, 2002, all indebtedness of Georgia-Pacific arising under the PEPS Senior Deferrable Notes shall be included in the definition of
“Indebtedness for Borrowed Money”;
 (b)             all obligations of such Person issued or assumed as the deferred purchase price of property or services other than bank overdrafts and trade
accounts payable arising in the ordinary course of business consistent with past practices;
 (c)             all obligations of such Person evidenced by notes, bonds, debentures, commercial paper or similar instruments, including obligations so
evidenced incurred in connection with the acquisition of property, assets or businesses;
 (d)             all indebtedness of such Person created or arising under any conditional sale or other title retention agreement with respect to property
acquired by such Person (even though the rights and remedies of the seller or creditor under such agreement in the event of default are limited to repossession or sale of such property);
 (e)             all rental obligations of such Person under leases capitalized under GAAP as
disclosed in the financial statements delivered pursuant to Section 5.01(j)(ii) hereof; and
 (f)              all indebtedness of such Person or of others
referred to in paragraphs (a) through (e) secured by (or for which the holder of such indebtedness has an existing right, contingent or
otherwise, to be secured by) any Lien upon or in property (including accounts and contract rights) owned by such Person, even though such Person has not assumed or become liable for the payment of such indebtedness.
 “Interest Charges” means, for any period, for Georgia-Pacific and its Subsidiaries on a consolidated
basis, the sum of (a) all interest, premium payments, fees, charges and related expenses of Georgia-Pacific and its Subsidiaries, determined on a consolidated basis, in connection with borrowed money (including capitalized interest) or in
connection with the deferred purchase price of assets, in each case to the extent treated as interest in accordance with GAAP, net of any interest income relating to the obligations giving rise to such interest expense, and (b) the portion of rent
expense of Georgia-Pacific and its Subsidiaries, determined on a consolidated basis, with respect to such period under capital leases that is treated as interest in accordance with GAAP, net of any rental or interest income relating to the
obligations giving rise to such rent expense. 
 “Interest Coverage Ratio” means,
as of any date of determination, the ratio of (a) EBITDA for the Measurement Period ending on such date to (b) Interest Charges for the Measurement Period ending on such date.
 

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  “Net Proceeds” means, in respect of any Asset Sales by
Georgia-Pacific or any of its Subsidiaries, the proceeds in cash received by Georgia-Pacific or any of its Subsidiaries with respect to or on account of such Asset Sales, net of: (a) the direct costs of such Asset Sales then payable by the recipient
of such proceeds, (b) sales, use, income and other taxes paid or payable by such recipient as a result thereof, (c) amounts required to be applied to repay principal, interest and prepayment premiums and penalties on Specified Debt secured by a
Permitted Lien on the properties subject to such disposition; and (d) without duplication in respect of clause (c) above, the amounts required to be applied to repay any indebtedness and prepayment penalties and fees in connection with or with
respect to the Unisource Receivables Transactions, in the case of any sale or disposition of more than 50% of the capital stock or other ownership interest of Unisource or Unisource Parent, as the case may be.
 “Total Specified Debt” of any Person means, all of the following, whether or not treated as
indebtedness under GAAP:  (a) all indebtedness payable within one year from the date of the creation thereof; (b) all indebtedness payable more than one year from the date of the creation thereof; and (c) with respect to all indebtedness
payable more than one year from the date of creation thereof, the portions of such indebtedness that are currently payable. 
 The following
shall be excluded from the definition of “Total Specified Debt”: (i) all indebtedness arising under bank overdrafts; (ii) all indebtedness or obligations of Georgia-Pacific arising under the Premium Equity Participating Security Units;
provided, however, that on and after August 16, 2002, all indebtedness of Georgia-Pacific arising under the PEPS Senior Deferrable Notes shall be included
in the definition of Total Specified Debt”; (iii) up to $175,000,000 of the aggregate outstanding indebtedness or obligations of Georgia-Pacific and its Subsidiaries arising under all Unisource Lease Financings; provided, however, that, if a material default or material event of default shall occur under a sublease agreement which generates rental income that is applied by
Georgia-Pacific or any of its Subsidiaries as an offset of the payments made on account of the indebtedness or obligations of Georgia-Pacific or any of its Subsidiaries arising under the related Unisource Lease Financing and if such material default
or material event of default shall not have been cured within the applicable cure period provided in such sublease agreement, then all outstanding indebtedness or obligations of Georgia-Pacific or any of its Subsidiaries arising under such sublease
agreement related to such Unisource Lease Financing shall be included in succeeding calculations of “Total Specified Debt”; and (iv) all indebtedness or obligations of Georgia-Pacific and its Subsidiaries arising under the Timber Note
Monetizations; provided, however, that, if a material default or material event of default shall occur under any Timber Note Receivable the payments under
which are applied as an offset of the payments made on account of such indebtedness or obligations arising under the related Timber Note Monetization and if such material default or material event of default (x) shall not have been cured within the
applicable cure period provided in such Timber Note Receivable and (y) could reasonably be expected to result in any of the Timber Note Monetizations not being fully supported by credit or collateral of any Persons other than Georgia-Pacific and its
Affiliates, then all outstanding indebtedness or obligations of Georgia-Pacific or any of its Subsidiaries arising under the Timber Note
 

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  Monetizations up to the principal amount outstanding under such Timber Note Receivable shall be included in succeeding calculations of
“Total Specified Debt”..
 (c)    Section 1.01 of the Primary Purchase Agreement is hereby
amended by inserting the following definitions in their proper alphabetical sequence:
 “Net Cash
Payments” means, with respect to all asbestos-related liabilities and/or related defense costs of Georgia-Pacific and/or any of its Subsidiaries, the aggregate cash payments made by Georgia-Pacific or any of its
Subsidiaries after December 28, 2002 relating to or to satisfy such liabilities and/or related defense costs, less any insurance or other proceeds received in cash by Georgia-Pacific or any of its Subsidiaries from any Persons other than
Georgia-Pacific or any of its Affiliates after December 28, 2002 as reimbursement or indemnification with respect to such liabilities and/or costs.
 “OCI Pension Adjustment Amount” means, for any fiscal year of Georgia-Pacific, with respect to Georgia-Pacific’s pension Plans, that portion of other
comprehensive income related to minimum pension liability adjustments for such fiscal year.
 “Timber Note
Monetizations” means commercial paper programs and other notes payable (established during 1997 through 2000) of Georgia-Pacific or any of its Subsidiaries with an aggregate principal amount of approximately $660 million
used to monetize approximately $718 million of notes receivable received by Georgia-Pacific or any of its Subsidiaries in connection with (a) two sales of timberlands located in California by Georgia-Pacific or any of its Subsidiaries and (b) one
sale of timberlands located in Maine by Georgia-Pacific or any of its Subsidiaries.
 “Timber Note
Receivable” means a note receivable of Georgia-Pacific or any of its Subsidiaries that is subject to a Timber Note Monetization.
 “Unisource” means Unisource Worldwide, Inc., a Delaware corporation. 
 “Unisource Lease Financing” means a financing lease arrangement pursuant to which Georgia-Pacific transferred to, and then leased back from, a Person or Persons
who were not Affiliates of Georgia-Pacific a warehouse facility used and formerly owned by Unisource and then subleased such warehouse facility to Unisource, and which arrangement Georgia-Pacific entered into in connection with
Georgia-Pacific’s sale of a 60% equity interest in Unisource Parent to an affiliate of Bain Capital Partners, LLC.
 “Unisource Parent” means a Subsidiary of Georgia-Pacific which directly owns 100% of the capital stock of Unisource.
 “Unisource Receivables Transactions” shall mean the transactions evidenced by the following: (i) Receivables Sale Agreement, dated October 1,
1997, as amended, among Portfolio Receivables LLC, Unisource Worldwide, Inc., Asset Securitization Cooperative Corporation and Canadian Imperial Bank of Commerce, (ii)
 

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  Receivables Sale Agreement, dated October 1, 1997, as amended, among Portfolio Receivables LLC, Unisource Worldwide, Inc., Canadian
Imperial Bank of Commerce, as Purchaser, and Canadian Imperial Bank of Commerce, as Servicing Agent, and (iii) Receivables Purchase Agreement and Guaranty, dated as of September 4, 1992, as amended, among Unisource Canada, Inc., The Trust Company
Bank of Montreal, Georgia-Pacific Corporation, and BMO Nesbitt Burns Inc. 
 (d)    The definition
of “Investor Rate” in Section 1.01 of the Primary Purchase Agreement is hereby amended by deleting clause (a)(iii) thereof in its entirety and inserting the following in replacement thereof:
 (iii)       the weighted average, determined on such day, of the Adjusted LIBOR Rate on such day, plus
the per annum rate set forth below opposite the lower of the long-term senior unsecured debt ratings of Georgia-Pacific from Moody’s and S&P from time to time, to the extent that such Purchaser has any borrowings outstanding under a
Liquidity Facility on such day or such Purchaser is the provider of such Liquidity Facility, on the basis of a 360-day year:
   

	 S&P Rating
 	  
 	 Moody’s Rating
 	  
 	 Applicable Margin
 	  
 
	 
 	  
 	 
 	  
 	 
 	  
 
	 BBB or higher
 	  
 	 Baa2 or higher
 	  
 	 1.350%
 	  
 
	 BBB-
 	  
 	 Baa3
 	  
 	 1.550%
 	  
 
	 BB+
 	  
 	 Ba1
 	  
 	 1.825%
 	  
 
	 BB
 	  
 	 Ba2
 	  
 	 2.150%
 	  
 
	 BB- 
 	  
 	 Ba3 
 	  
 	 2.400%
 	  
 
	 B+ or lower (or if no rating is available from S&P)
 	  
 	 B1 or lower (or if no rating is available from Moody’s)
 	  
 	 3.000%
 	  
 

 
 (e)    Section 7.01 of the Primary Purchase Agreement is hereby amended by deleting paragraphs (r) and (s) thereof in their entirety and substituting the
following in replacement thereof:
 (r)  the Leverage Ratio as of the end of any fiscal quarter of Georgia-Pacific set forth below
shall be greater than the percentage set forth below opposite such fiscal quarter:
 

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	 Fiscal Quarter Ending On:
 	  
 	 Percentage
 	  
 
	 
 	  
 	 
 	  
 
	  
 	  
 	  
 	  
 
	 June 29, 2002
 	  
 	 72.50%
 	  
 
	 September 28, 2002
 	  
 	 70.00%
 	  
 
	 December 28, 2002
 	  
 	 70.00%
 	  
 
	 March 29, 2003
 	  
 	 70.00%
 	  
 
	 June 28, 2003
 	  
 	 67.50%
 	  
 
	 September 27, 2003
 	  
 	 67.50%
 	  
 
	 January 3, 2004
 	  
 	 67.50%
 	  
 
	 April 3, 2004
 	  
 	 65.00%
 	  
 
	 July 3, 2004
 	  
 	 65.00%
 	  
 
	 October 2, 2004
 	  
 	 65.00%
 	  
 
	 January 1, 2005
 	  
 	 65.00%
 	  
 
	 April 2, 2005
 	  
 	 65.00%
 	  
 
	 July 2, 2005
 	  
 	 65.00%
 	  
 
	 October 1, 2005
 	  
 	 65.00%
 	  
 
	 December 31, 2005 
 	  
 	 65.00%
 	  
 

 
 (s)  the Interest
Coverage Ratio as of the end of any fiscal quarter of Georgia-Pacific set forth below shall be less than the ratio set forth opposite such fiscal quarter:
   

	 Fiscal Quarter Ending On:
 	  
 	 Ratio
 	  
 
	 
 	  
 	 
 	  
 
	  
 	  
 	  
 	  
 
	 June 29, 2002
 	  
 	 2.25 to 1.00
 	  
 
	 September 28, 2002
 	  
 	 2.25 to 1.00
 	  
 
	 December 28, 2002
 	  
 	 2.50 to 1.00
 	  
 
	 March 29, 2003
 	  
 	 2.25 to 1.00
 	  
 
	 June 28, 2003
 	  
 	 2.25 to 1.00
 	  
 
	 September 27, 2003
 	  
 	 2.25 to 1.00
 	  
 
	 January 3, 2004
 	  
 	 2.25 to 1.00
 	  
 
	 April 3, 2004
 	  
 	 2.50 to 1.00
 	  
 
	 July 3, 2004
 	  
 	 2.75 to 1.00
 	  
 
	 October 2, 2004
 	  
 	 3.00 to 1.00
 	  
 
	 January 1, 2005
 	  
 	 3.00 to 1.00
 	  
 
	 April 2, 2005
 	  
 	 3.00 to 1.00
 	  
 
	 July 2, 2005
 	  
 	 3.00 to 1.00
 	  
 
	 October 1, 2005
 	  
 	 3.00 to 1.00
 	  
 
	 December 31, 2005 
 	  
 	 3.00 to 1.00
 	  
 

 
 (f)     Section 11.07 of the Primary Purchase Agreement is hereby amended by deleting the last sentence thereof in its entirety.
 

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  SECTION 5.     AMENDMENTS TO THE SECONDARY PURCHASE AGREEMENT.
 (a)    All references in the Secondary Purchase Agreement and all agreements entered into in connection
therewith to “Victory Receivables Corporation” and “Victory” shall be deemed to be “Gotham Funding Corporation” and “Gotham”, respectively.
 (b)    The definition of “Investor Rate” in Section 1.01 of the Secondary Purchase Agreement is hereby amended by deleting paragraph (a) thereof in
its entirety and inserting the following in replacement thereof:
 (a)         a rate equal to the weighted average of the Adjusted LIBOR Rate for the Fixed Periods occurring within such Settlement Period or portion thereof, plus the per annum
rate set forth below opposite the lower of the long-term senior unsecured debt ratings of Georgia-Pacific from Moody’s and S&P from time to time, notified to the Seller and the Collection Agent by a Secondary Purchaser on the first day of
each of such Fixed Periods, or such other rate as such Secondary Purchaser and the Seller shall agree in writing:
  

	 S&P Rating
 	  
 	 Moody’s Rating
 	  
 	 Applicable Margin
 	  
 
	 
 	  
 	 
 	  
 	 
 	  
 
	 BBB or higher
 	  
 	 Baa2 or higher
 	  
 	 1.350%
 	  
 
	 BBB-
 	  
 	 Baa3
 	  
 	 1.550%
 	  
 
	 BB+
 	  
 	 Ba1
 	  
 	 1.825%
 	  
 
	 BB
 	  
 	 Ba2
 	  
 	 2.150%
 	  
 
	 BB- 
 	  
 	 Ba3 
 	  
 	 2.400%
 	  
 
	 B+ or lower (or if no rating is available from S&P)
 	  
 	 B1 or lower (or if no rating is available from Moody’s)
 	  
 	 3.000%
 	  
 

 
 (c)    Section 1.01 of the Secondary Purchase Agreement is hereby amended by inserting the following definition in its proper alphabetical sequence:

“Eligible Assignee” means (a) a commercial bank organized under the laws of the United
States, or any state thereof, and having a combined capital and surplus of at least $250,000,000; (b) a commercial bank organized under the laws of any other country which is a member of the Organization for Economic Cooperation and
Development, or a political subdivision of any such country, and having a combined capital and surplus of at least $250,000,000, provided that such bank is acting through a 
 

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  branch or agency located in the United States; (c) a Person that is primarily engaged in the business of commercial banking and that
is (i) a Subsidiary of a Secondary Purchaser, (ii) a Subsidiary of a Person of which a Secondary Purchaser is a Subsidiary, or (iii) a Person of which a Secondary Purchaser is a Subsidiary; (d) any other Person approved in
writing by the Administrative Agent; and (e) an Approved Fund; provided that notwithstanding the foregoing, “Eligible Assignee” shall not include Georgia-Pacific or any of
Georgia-Pacific’s Affiliates or Subsidiaries. 
 As used in clause (e) of this definition of “Eligible Assignee” the
following terms have the following meanings:
  “Approved Fund” means any Fund that is administered or managed by (a) a Secondary
Purchaser, (b) an Affiliate of a Secondary Purchaser or (c) an entity or an Affiliate of an entity that administers or manages a Secondary Purchaser.
 “Fund” means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary
course of its business.
 (d)    The first sentence of Section 10.01 of the Secondary Purchase
Agreement is hereby deleted in its entirety and replaced with the following:
 Each Secondary Purchaser (with respect to any Receivable
Interest) may (i) without the consent of the Seller, assign to another Secondary Purchaser, any Purchaser, any vehicle administered by a Secondary Purchaser which vehicle is rated at least P-1 by Moody’s and either (A) A-1 by S&P or (B) F1
by Fitch, or one or more Eligible Assignees and (ii) with the prior written consent of the Seller (which consent shall not be unreasonably withheld or delayed), to any other Person (such Person, and the Persons described in clause (i) above,
referred to herein as “Assignees”), and any such Assignee, may, without the written consent of the Seller, assign to any Person described in clause (i) hereof and may, with the prior written consent of the Seller (which consent shall not
be unreasonably withheld or delayed), assign to any other Person, its Commitment or any Receivable Interest, in either case, in whole or in part; provided, however, that any assignment of a Secondary Purchaser’s Commitment to a Purchaser or to
any vehicle organized by a Secondary Purchaser pursuant to clause (i) above at a time when such Purchaser or such vehicle cannot issue a commitment to make Purchases shall be made only with the prior written consent of the Seller (which consent
shall not be unreasonably withheld or delayed).
 SECTION 6.     EFFECTIVE DATE.
 This Amendment and the amendments to the Agreements shall be effective on the first date on which the following conditions are satisfied: (i) the Administrative Agent shall
have received the following, each in form and substance satisfactory to the Administrative Agent:
 (a)    This Amendment, executed by each of the parties hereto; 
 

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  (b)    A certificate from an officer of Georgia-Pacific certifying that
amendments substantially similar to those in Sections 4 and 5 of this Amendment have been effected in the Credit Agreement, dated as of November 3, 2000, as amended, among Georgia-Pacific, the lenders named therein, Bank of America, N.A., as
administrative agent for itself and the lenders named therein, and Morgan Stanley Senior Funding, Inc. and Merrill Lynch Capital Corporation, as co-syndication agents; and
 (c)    An executed fee letter (the “Fee Letter”) among the Seller, Georgia-Pacific, the Purchasers, the Secondary Purchasers and the Administrative
Agent with respect to the payment of certain fees.
 and (ii) all fees due and payable on or prior to such date in accordance with the Fee Letter shall have been paid.

SECTION 7.     EXPENSES.
 The Seller and the Collection Agent jointly and severally agree to pay on demand all reasonable costs and expenses actually incurred in connection with the preparation, execution, delivery and administration of this Amendment, including,
without limitation, the reasonable fees and disbursements of outside counsel to the Purchasers, the Secondary Purchasers and the Administrative Agent and the reasonable due diligence expenses of the Administrative Agent or its agent or
representatives.
 SECTION 8.     EXECUTION IN COUNTERPARTS. 
 This Amendment may be executed in any number of counterparts and by different parties hereto on separate counterparts, each of which counterparts, when so executed and delivered,
shall be deemed to be an original, and all of which counterparts, when taken together, shall constitute but one and the same agreement.
 SECTION 9.     GOVERNING LAW. 
 THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK.
 SECTION 10.     SEVERABILITY OF PROVISIONS. 
 Any provision of this Amendment which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof or affecting the validity or enforceability of such provision in any other jurisdiction.
 SECTION
11.     CAPTIONS. 
 The captions in this Amendment are for convenience of reference
only and shall not define or limit any of the terms or provisions hereof.
 

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  SECTION 12.     AGREEMENTS TO REMAIN IN FULL FORCE AND EFFECT. 
 This Amendment shall be deemed to be an amendment to the Agreements. All references to the Agreements in any other agreement or document shall on and after the effective
date of this Amendment be deemed to refer to the Agreements as amended hereby.
 SECTION 13.     NO
PROCEEDINGS. 
 Each of the parties hereto hereby agrees that it will not institute against, or join any other Person in instituting against, the Purchasers
any bankruptcy, reorganization, insolvency or similar proceeding until the date which is one year and one day since the last day on which any commercial paper notes issued by the Purchasers shall have matured.
 [Signature Pages Follow]
 

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

	  
 	  
 	 G-P RECEIVABLES, INC.
 
	 
 
 
 	  
 	 By: 
 	 
 
 /s/ PHILLIP M. JOHNSON
 
	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	 Name: Phillip M. Johnson
 
	  
 	  
 	  
 	 Title: Vice President and Treasurer
 

 

	  
 	  
 	 GEORGIA-PACIFIC CORPORATION
 
	 
 
 
 	  
 	 By: 
 	 
 
 /s/ PHILLIP M. JOHNSON
 
	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	 Name: Phillip M. Johnson
 
	  
 	  
 	  
 	 Title: Vice President and Treasurer 
 

 
  

	  
 	  
 	 BLUE RIDGE ASSET FUNDING CORPORATION
 
	  
 	  
 	  
 	 By Wachovia Securities and Attorney in fact
 
	 
 
 
 	  
 	 By: 
 	 
  /s/ DOUGLAS R. WILSON, SR.
 
	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	 Name: Douglas R. Wilson, SR.
 
	  
 	  
 	  
 	 Title: Vice President
 

 
  

	  
 	  
 	 CORPORATE RECEIVABLE CORPORATION
 
	  
 	  
 	  
 	 By: CITICORP NORTH AMERICA, INC., 
    AS
ATTORNEY-IN-FACT
 
	 
 
 
 	  
 	 By: 
 	 
  /s/ DAVID J.
DONOFRIO
 
	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	 Name: David J. Donofrio
 
	  
 	  
 	  
 	 Title: Vice President
 

 
  

	  
 	  
 	 CORPORATE ASSET FUNDING COMPANY, INC.
 
	  
 	  
 	  
 	 By: CITICORP NORTH AMERICA, INC.,
    AS
ATTORNEY-IN-FACT
 
	 
 
 
 	  
 	 By: 
 	 
  /s/ DAVID J.
DONOFRIO
 
	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	 Name: David J. Donofrio
 
	  
 	  
 	  
 	 Title: Vice President
 

 
 
 

   

	  
 	  
 	 GOTHAM FUNDING CORPORATION
 
	 
 
 
 	  
 	 By: 
 	 
  /s/ R. DOUGLAS DONALDSON
 
	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	 Name: R. Douglas Donaldson
 
	  
 	  
 	  
 	 Title: Treasurer
 

  

	  
 	  
 	 CITIBANK, N.A.
 
	 
 
 
 	  
 	 By: 
 	 
  /s/ DONALD J.
DONOFRIO
 
	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	 Name: Donald J. Donofrio
 
	  
 	  
 	  
 	 Title: Vice President
 

 
  

	  
 	  
 	 THE BANK OF TOKYO-MITSUBISHI, LTD.
 
	  
 	  
 	  
 	 (NEW YORK BRANCH)
 
	 
 
 
 	  
 	 By: 
 	 
  /s/ VINCENT DELUCA
 
	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	 Name: Vincent Deluca
 
	  
 	  
 	  
 	 Title: Senior Vice President
 

 
  

	  
 	  
 	 WACHOVIA BANK NATIONAL ASSOCIATION
 
	 
 
 
 	  
 	 By: 
 	 
  /s/ EERO MAKI
 
	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	 Name: EERO MAKI
 
	  
 	  
 	  
 	 Title: Vice President
 

 
  

	  
 	  
 	 CITICORP NORTH AMERICA, INC., as Administrative Agent
  
 
	  
 	  
 	 By: 
 	 
  /s/ DONALD J.
DONOFRIO
 
	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	 Name: Donald J. Donofrio
 
	  
 	  
 	  
 	 Title: Vice President
 

 
 
 

  EXHIBIT A
 Form of Certificate
ModificationSix Amendment and Waiver to the Receivables Purchase Agreement

  EXHIBIT 10.3
 SIXTH AMENDMENT AND
WAIVER TO SECOND AMENDED AND RESTATED
RECEIVABLES PURCHASE AGREEMENTS
 SIXTH AMENDMENT AND WAIVER TO SECOND
AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENTS dated as of March 28, 2003 (this “Amendment”) among G-P Receivables, Inc., as the seller
(the “Seller”), Georgia-Pacific Corporation, as collection agent (the “Collection Agent”), Blue Ridge Asset Funding Corporation
(“Blue Ridge”), Corporate Receivables Corporation (“CRC”), Corporate Asset Funding Company, Inc. (“CAFCO”), Gotham Funding Corporation, as assignee of Victory Receivables Corporation (“Gotham” and, together with Blue Ridge, CRC and CAFCO, the
“Purchasers”), Citibank, N.A. (“Citibank”), The Bank of Tokyo-Mitsubishi, Ltd. (New York Branch) (“BTM”), Wachovia Bank, National Association (“Wachovia” and, together with Citibank and BTM, the “Secondary
Purchasers”), Citicorp North America, Inc., as administrative agent (the “Administrative Agent”), Special Purpose Accounts Receivable Cooperative Corporation
(“SPARC”) and Canadian Imperial Bank of Commerce (“CIBC”). 
 WITNESSETH
 WHEREAS, the Seller, the Collection Agent, the Purchasers and the Administrative Agent entered into that
certain Second Amended and Restated Receivables Purchase Agreement dated as of December 19, 2001, as amended (the “Primary Purchase Agreement”);
 WHEREAS, the Seller, the Collection Agent, the Secondary Purchasers and the Administrative Agent entered into that certain Second Amended and Restated Receivables Purchase Agreement dated as of
December 19, 2001, as amended (the “Secondary Purchase Agreement” and, together with the Primary Purchase Agreement, the “Agreements”);
and
 WHEREAS, the parties hereto wish to (i) add an additional Purchaser under the Primary Purchase Agreement, (ii) effect a reallocation of the Pro Rata
Shares and waive certain provisions of Section 2.01(d) of the Primary Purchase Agreement in connection with such reallocation, (iii) add an additional Secondary Purchaser under the Secondary Purchase Agreement, (iv) adjust the Commitments of the
Secondary Purchasers and (v) amend the Agreements in the manner and on the terms and conditions set forth herein.
 NOW, THEREFORE, in consideration of the
foregoing and of the mutual covenants herein contained, the parties hereto agree as follows:
 SECTION 1.     DEFINED TERMS.
 Unless otherwise defined herein, the capitalized terms used herein shall have the meanings assigned to such terms in the
Agreements.
 SECTION 2.     ADDITION OF A PURCHASER.
 Upon satisfaction of the conditions precedent set forth in Section 7 hereof, SPARC shall be deemed a party to the Primary Purchase Agreement (without further action) as a Purchaser 
 
 

  and shall have all of the rights, duties and obligations of a party to the Primary Purchase Agreement.
 SECTION 3.     REALLOCATION OF PRO RATA SHARES UNDER PRIMARY PURCHASE AGREEMENT.
 Notwithstanding the provisions of the first sentence of Section 2.01(d) of the Primary Purchase Agreement, upon satisfaction of the conditions precedent set forth in Section 7 hereof, the Pro Rata
Shares of the Purchasers under the Primary Purchase Agreement shall be as set forth in Section 5(f) hereof. Each of the Purchasers and the Secondary Purchasers expressly consents to such reallocation and waives compliance with the notice requirement
set forth in the first sentence of Section 2.01(d) of the Primary Purchase Agreement. The parties further agree that any noncompliance with the provisions of the Agreements by virtue of the reallocation set forth above shall be deemed not to
constitute a breach or default by the Seller under the Agreements, and that such reallocation shall be deemed to be permissible and effective in all respects and for all purposes under the Agreements.
 SECTION 4.     ADDITION OF A SECONDARY PURCHASER.
 Upon satisfaction of the conditions precedent set forth in Section 7 hereof, CIBC shall be deemed a party to the Secondary Purchase Agreement (without further action) as a Secondary Purchaser and shall have all of the rights, duties and
obligations of a party to the Secondary Purchase Agreement.
 SECTION 5.     AMENDMENTS TO THE PRIMARY
PURCHASE AGREEMENT.
 (a)    The introductory paragraph of the Primary Purchase Agreement shall
be amended to read in its entirety as follows:
 SECOND AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT dated as of December 19, 2001
among G-P RECEIVABLES, INC., a Delaware corporation (the “Seller”), GEORGIA-PACIFIC CORPORATION, a Georgia corporation (“Georgia-Pacific”), BLUE RIDGE ASSET FUNDING CORPORATION (“Blue Ridge”), CORPORATE ASSET FUNDING COMPANY, INC. (“CAFCO”), CORPORATE
RECEIVABLES CORPORATION (“CRC”), SPECIAL PURPOSE ACCOUNTS RECEIVABLE COOPERATIVE CORPORATION (“SPARC”), GOTHAM FUNDING CORPORATION
(“Gotham”) (each of Blue Ridge, CAFCO, CRC, SPARC and Gotham and their respective successors and permitted assigns, individually, a “Purchaser” and, collectively, the “Purchasers”), and CITICORP NORTH AMERICA, INC. (“Citicorp”), as agent (the “Administrative Agent”) for the Purchasers. Unless defined elsewhere herein, capitalized terms used in this Agreement shall have the meanings assigned to such terms in Article I hereof.
 (b)    Section 1.01 of the Primary Purchase Agreement is hereby amended by inserting the following definitions in their
proper alphabetical sequence:
 “Loss Horizon Ratio” means, as of any date of
determination, a fraction, expressed as a percentage, the numerator of which is the sum of the aggregate sales 
 

2

  generated by the Originators during the three most recently completed calendar months immediately preceding such date of determination,
and the denominator of which is the Net Receivables Pool Balance at the end of the most recently ended calendar month.
 “Payment Terms Factor” means, as of any date of determination, the quotient of (i) the sum of (A) 60 and (B) the Weighted Average Payment Term as of such date of determination divided
by (ii) 90.
 “Sales Based Default Ratio” means, at any time the determination
thereof is to be made, the average of the Sales Based Default Percentages for each of the three most recently ended calendar months.
 “Sales Based Default Percentage” means, with respect to any calendar month, a fraction (expressed as a percentage) the numerator of which is the sum of (i) the aggregate Outstanding
Balance of all Pool Receivables that were at least 61, but not more than 90, days past due as of the last day of such calendar month and (ii) the aggregate Outstanding Balance of all Pool Receivables that were written off the books of the Seller or
an Originator at any time during such calendar month, and the denominator of which is the aggregate Outstanding Balance of all Pool Receivables that were generated during the third calendar month preceding such calendar month.
 “Weighted Average Payment Term” means, as of any date of determination, the quotient of (i) the sum of
the products obtained by multiplying the Outstanding Balance at the end of the most recently ended calendar month of each Eligible Receivable times the number of days following the billing date thereof in which such Eligible Receivable is required
under the related Contract to be paid in full (such number of days, the “Duration”) divided by (ii) the Net Receivables Pool Balance at the end of the most recently ended calendar month;
provided, that, solely for purposes of this calculation, all Eligible Receivables with a Duration of (i) less than 30 days shall be deemed to have a Duration of 30 days, (ii) between 30 days and 60 days
shall be deemed to have a Duration of 60 days, (iii) between 61 days and 90 days shall be deemed to have a Duration of 90 days and (iv) greater than 90 days shall be deemed to have a Duration of 120 days.
 (c)    The definition of “Concentration Limit” in Section 1.01 of the Primary Purchase Agreement is hereby deleted in its
entirely and replaced with the following:
 “Concentration Limit” means, at any
time, for any Obligor, 3.33% of the Total Aggregate Capital outstanding at such time, or such other amount (a “Special Concentration Limit”) for such Obligor designated by the Administrative
Agent in a writing delivered to the Seller at the instruction of all of the Purchasers; provided, that in the case of an Obligor with any Affiliated Obligor, the Concentration Limit shall be calculated
as if such Obligor and such Affiliated Obligor are one Obligor; provided, further, that no Special Concentration Limit shall be designated with respect to
any Obligor which is not rated at least (i) P-1 by Moody’s and (ii) A-1 by S&P, in each case, at the time of such designation; provided, further,
that any Special Concentration Limit (i) may be cancelled (A) by the Administrative Agent (acting upon the instructions of any 
 

3

  Purchaser), upon not less than three Business Days’ notice to the Seller or (B) under such other circumstances as may be specified
in the writing delivered to the Seller which designated such Special Concentration Limit and (ii) shall be cancelled, without any notice or other action by the Administrative Agent or any Purchaser, with respect to (A) any Obligor (other than Lowes
Companies, Inc.) if such Obligor is not rated at least (I) P-1 by Moody’s and (II) A-1 by S&P and (B) Lowes Companies, Inc. if Lowes Companies, Inc. is not rated at least (I) P-2 by Moody’s and (II) A-1 by S&P.
 (d)    The definition of “Eligible Receivable” in Section 1.01 of the Primary Purchase Agreement shall
be amended by (i) deleting the word “and” at the end of clause (xiv) thereof, (ii) deleting the period at the end of clause (xv) thereof and inserting in replacement thereof “; and” and (iii) inserting as clause (xvi) the words
“(xvi) which is required to be paid in full within 181 days of the billing date thereof.”
 (e)    The definition of “Loss Reserve” in Section 1.01 of the Primary Purchase Agreement is hereby deleted in its entirely and replaced with the following:
 “Loss Reserve” means, as of any date of determination, the product of (i) a fraction expressed as
a percentage, the numerator of which will equal the greatest of (A) either (I) if no Downgrade Event has occurred and is continuing, 300% of the Concentration Limit for any Obligor (other than any Special Concentration Limit) on such date or (II) if
a Downgrade Event has occurred and is continuing, 400% of the Concentration Limit for any Obligor (other than any Special Concentration Limit) on such date, (B) 300% of the Default Ratio as of such date and (C) the product of (I) 200% of the highest
Sales Based Default Ratio for any of the twelve calendar months immediately preceding such date, (II) the Loss Horizon Ratio as of such date and (III) the Payment Terms Factor as of such date, and the denominator of which will equal 1 minus the
numerator and (ii) the Total Aggregate Capital on such date.
 (f)     The definition of
“Pro Rata Share” in Section 1.01 of the Primary Purchase Agreement shall be amended by deleting such definition in its entirety and inserting the following new definition in replacement thereof:
 “Pro Rata Share” means, for each Purchaser, the percentage set forth below opposite such Purchaser’s name, or such
other percentage for such Purchaser as shall result from any reallocation in accordance with Section 2.01(d):
   

	 Blue Ridge
 	  
 	 27.778
 	 %
 
	 CAFCO
 	  
 	 20.000
 	 %
 
	 CRC
 	  
 	 13.333
 	 %
 
	 SPARC
 	  
 	 22.222
 	 %
 
	 Gotham
 	  
 	 16.667
 	 %
 

 
 (g)    The definition of “Purchase Limit” in Section 1.01 of the Primary Purchase Agreement shall be amended by deleting the number
“$700,000,000” from the first sentence thereof and inserting in replacement thereof the number “$900,000,000”.
  
 

4

  (h)    The definition of “Receivable” in Section 1.01 of the
Primary Purchase Agreement is hereby amended by deleting such definition in its entirety and substituting the following new definition in replacement thereof:
 “Receivable” means the indebtedness of any Obligor under a Contract (other than a Contract with respect to the sale by an Originator of gypsum at the minehead)
from a sale of merchandise, goods or insurance, or the rendering of services which have been completed and includes the right to payment of any interest or finance charges and other obligations of such Obligor with respect thereto.
 (i)     The definition of “Reference Banks” in Section 1.01 of the Primary Purchase Agreement
shall be amended by inserting the words “Canadian Imperial Bank of Commerce,” before the words “Citibank, N.A.”.
 (j)     The definition of “Related Secondary Purchaser” in Section 1.01 of the Primary Purchase Agreement shall be amended by deleting such definition in its entirety and inserting the
following new definition in replacement thereof:
 “Related Secondary Purchaser”
means, with respect to each Purchaser set forth below, the Person set forth opposite its name, or, in the case of any Additional Secondary Purchaser under the Secondary Purchase Agreement, the Person specified as such Additional Secondary
Purchaser’s Related Purchaser.
   

	 Blue Ridge
 	  
 	 Wachovia Bank, National Association
 	  
 
	  
 	  
 	  
 	  
 
	 CAFCO
 	  
 	 Citibank, N.A.
 	  
 
	  
 	  
 	  
 	  
 
	 CRC
 	  
 	 Citibank, N.A.
 	  
 
	  
 	  
 	  
 	  
 
	 SPARC
 	  
 	 Canadian Imperial Bank of Commerce
 	  
 
	  
 	  
 	  
 	  
 
	 Gotham
 	  
 	 The Bank of Tokyo-Mitsubishi, Ltd. (New York Branch)
 	  
 

 
 (k)    The definition of “Secondary Purchasers” in Section 1.01 of the Primary Purchase Agreement shall be amended by inserting the words
“Canadian Imperial Bank of Commerce,” before the words “Citibank, N.A.”.
 (l)     Section 2.08 of the Primary Purchase Agreement is hereby amended by adding the following new paragraph (e) at the end thereof:
 (e)         For the avoidance of doubt, if the issuance of FASB Interpretation No. 46, or any other change in accounting standards or the issuance of any
other pronouncement, release or interpretation, causes or requires the consolidation of all or a portion of the assets and liabilities of a Purchaser with the assets and liabilities of any 
  
 

5

  Affected Party, such event shall constitute a circumstance on which such Affected Party may base a claim for reimbursement under this
Section 2.08.
 (m)   Section 5.01 of the Primary Purchase Agreement is hereby amended by inserting the
following words before the period at the end of paragraph (s) thereof: “, other than the investment made by the Seller in SPARC pursuant to the Membership Agreement, dated as of March 28, 2003, by and between the Seller and
SPARC”.
 (n)    The third sentence of Section 6.02(b) of the Primary Purchase Agreement shall
be amended by inserting the words “Canadian Imperial Bank of Commerce,” before the words “Citibank, N.A.” in the third sentence thereof.
 SECTION
6.     AMENDMENTS TO SECONDARY PURCHASE AGREEMENT
 (a)    The introductory paragraph of the Secondary Purchase Agreement shall be amended to read in its entirety as follows:
 SECOND AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT dated as of December 19, 2001 among G-P Receivables, Inc., a Delaware corporation (the “Seller”),
GEORGIA-PACIFIC CORPORATION, a Georgia corporation (the “Collection Agent”), CANADIAN IMPERIAL BANK OF COMMERCE (“CIBC”), CITIBANK,
N.A. (“Citibank”), THE BANK OF TOKYO-MITSUBISHI, LTD. (NEW YORK BRANCH) (“BTM”) and WACHOVIA BANK, NATIONAL ASSOCIATION
(“Wachovia”) (each of CIBC, Citibank, BTM and Wachovia, individually, a “Secondary Purchaser” and, collectively, the
“Secondary Purchasers”) and CITICORP NORTH AMERICA, INC. (“Citicorp”), as agent (the “Administrative
Agent”) for the Secondary Purchasers. Unless defined elsewhere herein, capitalized terms used in this Agreement shall have the meanings assigned to such terms in Article I hereof.
 (b)    The definition of “Commitment” in Section 1.01 of the Secondary Purchase Agreement shall be amended by deleting the number
“$700,000,000” from the first sentence thereof and inserting in replacement thereof the number “$900,000,000”.
 (c)    The definition of “Reference Banks” in Section 1.01 of the Secondary Purchase Agreement shall be amended by inserting the word “CIBC,” before the word
“Citibank”.
 (d)    The definition of “Related Purchaser” in Section 1.01 of
the Secondary Purchase Agreement shall be amended by deleting such definition in its entirety and inserting the following new definition in replacement thereof:
 “Related Purchaser” means, with respect to each Purchaser set forth below, the Person set forth opposite its name, or, in the case of any Additional Purchaser
under the Primary Purchase Agreement, the Person specified as such Additional Purchaser’s Related Purchaser.
  
 

6

   

	 Blue Ridge
 	  
 	 Wachovia Bank, National Association
 	  
 
	  
 	  
 	  
 	  
 
	 CAFCO
 	  
 	 Citibank, N.A.
 	  
 
	  
 	  
 	  
 	  
 
	 CRC
 	  
 	 Citibank, N.A.
 	  
 
	  
 	  
 	  
 	  
 
	 SPARC
 	  
 	 Canadian Imperial Bank of Commerce
 	  
 
	  
 	  
 	  
 	  
 
	 Gotham
 	  
 	 The Bank of Tokyo-Mitsubishi, Ltd. (New York Branch)
 	  
 

 
 (e)    Section 6.02(b) of the Secondary Purchase Agreement shall be amended by inserting the word “CIBC,” before the word “Citibank” in the
third sentence thereof. 
 SECTION 7.     CONDITIONS PRECEDENT.
 The effectiveness of this Amendment is subject to the satisfaction of the following conditions precedent:
 (a)    The receipt by the parties hereto of this Amendment, executed by each of the parties hereto;
 (b)    The receipt by SPARC and CIBC of written confirmation from each of Moody’s and S&P (each, a “Rating Agency”) that the entry into this Amendment will not, as of the date hereof, cause such Rating Agency to downgrade or withdraw the ratings currently assigned by it to SPARC’s commercial paper
notes;
 (c)    The receipt by SPARC and CIBC of an executed Membership Agreement by and between the
Seller and SPARC (the “Membership Agreement”), in form and substance satisfactory to SPARC and CIBC;
 (d)    The receipt by the Purchasers, the Secondary Purchasers, the Administrative Agent, SPARC and CIBC of an executed fee letter (the “Fee
Letter”) among the Seller, Georgia-Pacific, the Purchasers, the Secondary Purchasers, the Administrative Agent, SPARC and CIBC with respect to the payment of certain fees;
 (e)    The receipt by CIBC of an executed letter (the “Upfront Fee Letter”) among
the Seller, Georgia-Pacific and CIBC with respect to the payment of certain fees;
 (f)     The
receipt by the Purchasers, the Secondary Purchasers, the Administrative Agent, SPARC and CIBC of favorable opinions of counsel for the Seller and for the Collection Agent as to such matters as the Purchasers, the Secondary Purchasers, the
Administrative Agent, SPARC or CIBC may reasonably request;
 (g)    The receipt by the Purchasers,
the Secondary Purchasers, the Administrative Agent, SPARC and CIBC of a certificate, in form and substance satisfactory to the Purchasers, the Secondary Purchasers, the Administrative Agent, SPARC and CIBC, from a 
 

7

  Responsible Officer of the Seller certifying that (i) the representations and warranties contained in Article IV of the Agreements as amended hereby are true
and correct on and as of the date hereof as though made on and as of such date and (ii) no event (other than such events which have been waived) has occurred and is continuing, or would result from the execution, delivery or performance of this
Amendment or from the consummation of the transactions contemplated hereby, that constitutes an Event of Termination or a Potential Termination Event;
 (h)    The receipt by the Purchasers, the Secondary Purchasers, the Administrative Agent, SPARC and CIBC of such other certificates from Responsible Officers of the Seller and/or the
Collection Agent with respect to such matters as the Purchasers, the Secondary Purchasers, the Administrative Agent, SPARC or CIBC may reasonably request, including, without limitation, matters with respect to incumbency, due authorization and the
organizational documents of the Seller and the Collection Agent; and
 (i)     The payment of
all fees due and payable on or prior to such date in accordance with the Fee Letter, the Upfront Fee Letter and the Membership Agreement.
 SECTION 8.     EXPENSES.
 The Seller and the Collection Agent jointly and severally agree to pay on demand all
reasonable costs and expenses actually incurred in connection with the preparation, execution, delivery and administration of this Amendment, including, without limitation, the reasonable fees and disbursements of outside counsel to the Purchasers,
the Secondary Purchasers, the Administrative Agent, SPARC and CIBC and the reasonable due diligence expenses of the Purchasers, the Secondary Purchasers, the Administrative Agent, SPARC, CIBC or their respective agents or representatives.

SECTION 9.     EXECUTION IN COUNTERPARTS.
 This Amendment may be executed in any number of counterparts and by different parties hereto on separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original, and
all of which counterparts, when taken together, shall constitute but one and the same agreement.
 SECTION 10.     GOVERNING LAW.
 THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK.
 SECTION 11.     SEVERABILITY OF PROVISIONS.
 Any provision of this Amendment which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof or affecting the validity or enforceability of such provision in any other jurisdiction.
 

8

  SECTION 12.     CAPTIONS.
 The captions in this Amendment are for convenience of reference only and shall not define or limit any of the terms or provisions hereof.
 SECTION 13.     AGREEMENTS TO REMAIN IN FULL FORCE AND EFFECT.
 This Amendment shall be deemed to be an amendment to the Agreements. All references to the Agreements in any other agreement or document shall on and after the effective date of this Amendment be deemed to refer to the
Agreements as amended hereby.
 SECTION 14.     NO PROCEEDINGS.
 Each of the parties hereto hereby agrees that it will not institute against, or join any other Person in instituting against, any Purchaser or SPARC any bankruptcy, reorganization,
insolvency or similar proceeding until the date which is one year and one day since the last day on which any commercial paper notes issued by such Purchaser or SPARC, as the case may be, shall have matured.
 [Signature Pages Follow]
 

9

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

	  
 	  
 	  
 	 G-P RECEIVABLES, INC.
 
	  
 	  
 	 
 
 
 	  
 	 By: 
 	 
 
 /s/ PHILLIP M. JOHNSON
 
	  
 	  
 	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	  
 	  
 	 Name: Phillip M. Johnson
 
	  
 	  
 	  
 	  
 	  
 	 Title: Vice President and Treasurer
 

 
  

	  
 	  
 	  
 	 GEORGIA-PACIFIC CORPORATION
 
	  
 	  
 	 
 
 
 	  
 	 By: 
 	 
 
 /s/ PHILLIP M. JOHNSON 
 
	  
 	  
 	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	  
 	  
 	 Name: Phillip M. Johnson
 
	  
 	  
 	  
 	  
 	  
 	 Title: Vice President and Treasurer
 

 
  

	  
 	  
 	  
 	 BLUE RIDGE ASSET FUNDING CORPORATION
 
	  
 	  
 	  
 	  
 	  
 	 By:  WACHOVIA, AS ATTORNEY-IN-FACT
 
	  
 	  
 	  
 	  
 	 By: 
 	 
 /s/ DOUGLAS R. WILSON, SR.
 
	  
 	  
 	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	  
 	  
 	 Name: Douglas R. Wilson, SR.
 
	  
 	  
 	  
 	  
 	  
 	 Title: Vice President 
 

 
  

	  
 	  
 	  
 	 CORPORATE RECEIVABLE CORPORATION
 
	  
 	  
 	  
 	  
 	  
 	 By:  CITICORP NORTH AMERICA, INC.,
         AS
ATTORNEY-IN-FACT
 
	  
 	  
 	  
 	  
 	 By: 
 	 
 /s/ DAVID J. DONOFRIO
 
	  
 	  
 	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	  
 	  
 	 Name: DAVID J. DONOFRIO
 
	  
 	  
 	  
 	  
 	  
 	 Title: Vice President
 

 
  

	  
 	  
 	  
 	 CORPORATE ASSET FUNDING COMPANY, INC.
 
	  
 	  
 	  
 	  
 	  
 	 By:  CITICORP NORTH AMERICA, INC.,
         AS
ATTORNEY-IN-FACT
 
	  
 	  
 	 
 
 
 	  
 	 By: 
 	 
 /s/ DAVID J. DONOFRIO
 
	  
 	  
 	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	  
 	  
 	 Name: DAVID J. DONOFRIO
 
	  
 	  
 	  
 	  
 	  
 	 Title: Vice President
 

 
 
 

   

	  
 	  
 	  
 	 SPECIAL PURPOSE ACCOUNTS RECEIVABLE
        COOPERATIVE
CORPORATION
 
	  
 	  
 	 
 
 
 	  
 	 By: 
 	 
 /s/ JAMES W. LEES
 
	  
 	  
 	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	  
 	  
 	 Name: James W. Lees
 
	  
 	  
 	  
 	  
 	  
 	 Title: VICE PRESIDENT
 

 
  

	  
 	  
 	  
 	 GOTHAM FUNDING CORPORATION
 
	  
 	  
 	 
 
 
 	  
 	 By: 
 	 
  /s/ R. DOUGLAS DONALDSON 
 
	  
 	  
 	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	  
 	  
 	 Name: R. Douglas Donaldson
 
	  
 	  
 	  
 	  
 	  
 	 Title: Treasurer
 

 
  

	  
 	  
 	  
 	 CANADIAN IMPERIAL BANK OF COMMERCE
 
	  
 	  
 	 
 
 
 	  
 	 By: 
 	 
 /s/ MARK O'KEEFE
 
	  
 	  
 	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	  
 	  
 	 Name: Mark O'Keefe 
 
	  
 	  
 	  
 	  
 	  
 	 Title: Authorized Signatory
 
	  
 	  
 	 
 
 
 	  
 	 By: 
 	 
 /s/ STEPHEN ADAMS
 
	  
 	  
 	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	  
 	  
 	 Name: Stephen Adams
 
	  
 	  
 	  
 	  
 	  
 	 Title: Authorized Signatory
 

 
  

	  
 	  
 	  
 	 CITIBANK, N.A.
 
	  
 	  
 	 
 
 
 	  
 	 By: 
 	 
 /s/ DAVID J. DONOFRIO
 
	  
 	  
 	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	  
 	  
 	 Name: David J. Donofrio
 
	  
 	  
 	  
 	  
 	  
 	 Title: Vice President
 

 
  

	  
 	  
 	  
 	 THE BANK OF TOKYO-MITSUBISHI, LTD.
        (NEW YORK BRANCH)

	  
 	  
 	  
 	  
 	 By: 
 	 
 /s/ VINCENT DELUCA
 
	  
 	  
 	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	  
 	  
 	 Name: Vincent Deluca
 
	  
 	  
 	  
 	  
 	  
 	 Title: Senior Vice President
 

 
 
 

   

	  
 	  
 	 WACHOVIA BANK, NATIONAL ASSOCIATION
 
	  
 	  
 	  
 	 By: 
 	 
 /s/ EERO MAKI
 
	  
 	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	  
 	 Name: 
 	 EERO MAKI
 
	  
 	  
 	  
 	  
 	 Title: 
 	 V P
 

 
  

	  
 	  
 	 CITICORP NORTH AMERICA, INC., as
         Administrative
Agent
 
	  
 	  
 	  
 	 By: 
 	 
 /s/ DAVID J. DONOFRIO
 
	  
 	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	  
 	 Name: 
 	 David J. Donofrio
 
	  
 	  
 	  
 	  
 	 Title: 
 	 Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00049-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00049-of-00352.parquet"}]]