Document:

e61933099ex10_1.htm

 Exhibit 10.1

CREDIT AGREEMENT SUPPLEMENT

 

CREDIT AGREEMENT SUPPLEMENT, dated as of June 5, 2012 (this “Credit Agreement Supplement”), by and among CENVEO CORPORATION, a Delaware corporation (the “Borrower”), CENVEO, INC., a Colorado corporation, BANK OF AMERICA, N.A., as Administrative Agent (“Administrative Agent”) under the Credit Agreement (as defined below), each Incremental Term Loan Lender (as defined below) and each of the other Loan Parties that is a party hereto.

 

RECITALS:

 

WHEREAS, reference is hereby made to the Amended and Restated Credit Agreement, dated as of December 21, 2010 (as amended, supplemented, amended and restated or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, Cenveo, Inc., a Colorado corporation, each Lender from time to time party thereto, and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer (capitalized terms used but not defined herein having the meaning provided in the Credit Agreement);

 

WHEREAS, the Borrower has hereby notified the Administrative Agent that it is requesting an increase to the Term B Facility pursuant to Section 2.14(a) of the Credit Agreement;

 

WHEREAS, pursuant to Section 2.14(c) of the Credit Agreement, the Borrower may obtain incremental term loan commitments to increase any existing Term Facility by, among other things, entering into a Credit Agreement Supplement in accordance with the terms and conditions of the Credit Agreement;

 

WHEREAS, the Borrower has requested an increase in the Term B Facility in an aggregate principal amount of $65,000,000 (the “Incremental Term Loans” and the commitments relating thereto, the “Incremental Term Loan Commitments”); and

 

WHEREAS, the Persons party to this Credit Agreement Supplement as lenders with respect to the Incremental Term Loans (such Persons and any assignees thereof, the “Incremental Term Loan Lenders”) have indicated their willingness to lend such Incremental Term Loans on the terms and subject to the conditions herein.

 

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

 

Subject to the terms and conditions set forth herein, each Incremental Term Loan Lender severally agrees to make Incremental Term Loans to the Borrower on the Term Facility Increase Effective Date (as defined below) in the amount of such Incremental Term Loan Lender’s Incremental Term Loan Commitment as set forth on Schedule A.  Pursuant to Section 2.14(f)(i) of the Credit Agreement, the Incremental Term Loans shall be Term B Loans for all purposes under the Credit Agreement and each other Loan 

 

  

  

  

Document and shall have terms identical to the Term B Loans outstanding under the Credit Agreement immediately prior to the date hereof (the “Existing Term B Loans” and, together with the Incremental Term Loans, the “Term B Loans”), which shall include among other things the following terms:

 

	
1.  

	
Amortization and Maturity Date.  Pursuant to Section 2.14(d) of the Credit Agreement, Section 2.07(a) of the Credit Agreement shall be deemed amended to increase the remaining unpaid installments of principal outstanding under the Term B Facility by an aggregate amount equal to the principal amount of the Incremental Term Loans, such aggregate amount to be applied to increase such installments ratably in accordance with the amounts in effect immediately prior to the Term Facility Increase Effective Date.

 

	
2.  

	
Credit Agreement Governs.  The Incremental Term Loans shall have identical terms as the Existing Term B Loans and shall otherwise be subject to the provisions of the Credit Agreement and the other Loan Documents, each reference to a “Term B Loan” or “Term B Loans” in the Credit Agreement shall be deemed to include the Incremental Term Loans and other related terms will have correlative meanings mutatis mutandis.

 

	
3.  

	
Conditions to Effectiveness.  This Credit Agreement Supplement shall become effective on June 8, 2012 (the “Term Facility Increase Effective Date”) when:

 

	
        (i)  

	
this Credit Agreement Supplement shall have been executed and delivered by the Borrower, the other Loan Parties, each Incremental Term Loan Lender party hereto and the Administrative Agent;

 

	
        (ii)  

	
the Administrative Agent shall have received evidence, including UCC, tax and judgment lien searches from the jurisdiction of formation and/or jurisdiction of the chief executive office, as applicable, of each Loan Party, that none of the Collateral is subject to any Liens (in each case other than Permitted Liens);

 

	
        (iii)  

	
the Administrative Agent shall have received a certificate of a Responsible Officer of the Borrower certifying that: (a) each of the conditions set forth in Sections 4.02(a) and (b) of the Credit Agreement have been satisfied (provided, for the avoidance of doubt that the conditions set forth in Section 4.02(c) of the Credit Agreement must be satisfied before any Credit Extension with respect to the Incremental Term Loans), (b) no Default has occurred and is continuing or would result from the Borrowings to be made on the Term Facility Increase Effective Date and (c) after giving effect to the Borrowings of the Incremental Term Loans to be made on the Term Facility Increase Effective Date, (A) the Borrower is in compliance with each of the covenants set forth in Section 7.11 of the Credit Agreement on a Pro Forma Basis and (B) Total Outstandings plus the aggregate unused Revolving Credit Commitments do not exceed the Maximum First Lien Principal Indebtedness (as defined in the Intercreditor Agreement);

 

	
        (iv)  

	
the Administrative Agent’s receipt of certified copies of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of each Loan Party as the Administrative Agent may require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to

 

  

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execute and deliver this Credit Agreement Supplement and the other documents contemplated hereby;

 

	
        (v)  

	
the Administrative Agent’s receipt of (a) certificates attesting to the Solvency of each Loan Party before and after giving effect to the incurrence of the Incremental Term Loans, from its chief financial officer, and (b) a certificate of a Responsible Officer of each Loan Party either (x) attaching copies of all consents, licenses and approvals required in connection with the execution, delivery and performance by such Loan Party and the validity against such Loan Party of this Credit Agreement Supplement and the other documents contemplated hereby, and such consents, licenses and approvals shall be in full force and effect, or (y) stating that no such consents, licenses or approvals are so required;

 

	
        (vi)  

	
all fees and reasonable and documented out-of-pocket expenses of the Administrative Agent and Bank of America, N.A. (the “Arranger”), including  all reasonable and documented fees and expenses of counsel to the Administrative Agent and the Arranger, shall have been paid or reimbursed, on or prior to the date hereof;

 

	
        (vii)  

	
the Administrative Agent’s receipt of (a) a favorable opinion of Ian R. Scheinmann, Esq., Vice President, Legal Affairs of Holdings, addressed to the Administrative Agent and each Lender, as to such matters concerning the Loan Parties and this Credit Agreement Supplement and the other documents contemplated hereby as the Administrative Agent may reasonably request and (b) a favorable opinion of Hughes Hubbard & Reed LLP, special counsel to the Loan Parties, addressed to the Administrative Agent and each Lender, as to such matters concerning the Loan Parties and this Credit Agreement Supplement and the other documents contemplated hereby as the Administrative Agent may reasonably request; and

 

	
        (viii)  

	
to the extent any Incremental Term Loan Lender is an Additional Term Lender (as defined in Section 2.14(b) of the Credit Agreement), the Administrative Agent’s receipt of a joinder agreement in the form of Exhibit L to the Credit Agreement.

 

	
4.  

	
Representations and Warranties.  By its execution of this Credit Agreement Supplement, the Borrower hereby represents and warrants that:

 

	
        (i)  

	
the execution, delivery and performance by each Loan Party of this Credit Agreement Supplement have been duly authorized by all necessary corporate or other organizational action, and do not and will not (a) contravene the terms of such Loan Party’s Organization Documents; (b) conflict with or result in any breach or contravention of, or result in the creation of any Lien under (i) any Contractual Obligation to which such Loan Party is a party or binding upon such Loan Party or the properties of such Loan Party or any of its Subsidiaries or (ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such 

 

  

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Loan Party or its property is subject; or (c) violate any Law, except in each case referred to in the foregoing clauses (b) and (c), to the extent that such conflict, breach, contravention or violation could not reasonably be expected to have a Material Adverse Effect; and

 

	
        (ii)  

	
no approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against, any Loan Party of this Credit Agreement Supplement, or for the Borrowing of the Incremental Term Loans, except for (a) filings and recordings necessary to perfect Liens created under the Collateral Documents, and (b) such authorizations, approvals, actions, notices and filings that have been duly obtained, taken, given or made and are in full force and effect.

 

	
5.  

	
Use of Proceeds.  The Borrower covenants and agrees that it will use the proceeds of the Incremental Term Loans to repay Revolving Credit Loans and to pay fees and expenses relating thereto and to this Credit Agreement Supplement.

 

	
6.  

	
Term Facility Increase Request. By its execution of this Credit Agreement Supplement, the Borrower hereby delivers and the Administrative Agent hereby acknowledges receipt of this Credit Agreement Supplement as a Term Facility Increase Notice pursuant to Section 2.14(a) of the Credit Agreement.

 

	
7.  

	
Acknowledgments.  Each Loan Party hereby expressly acknowledges the terms of this Credit Agreement Supplement and reaffirms, as of the date hereof, (i) the covenants and agreements contained in each Loan Document to which it is a party, including, in each case, such covenants and agreements as in effect immediately after giving effect to this Credit Agreement Supplement and the transactions contemplated hereby and (ii) its guarantee of the Obligations (including, without limitation, the Incremental Term Loans) under the Collateral Documents and its grant of Liens on the Collateral to secure the Obligations (including, without limitation, the Obligations with respect to the Incremental Term Loans) pursuant to the Collateral Documents.

 

	
8.  

	
Amendment, Modification and Waiver.  This Credit Agreement Supplement may not be amended, modified or waived except in accordance with Section 11.01 of the Credit Agreement.

 

	
9.  

	
Liens Unimpaired.  After giving effect to this Credit Agreement Supplement, neither the modification of the Credit Agreement effected pursuant to this Credit Agreement Supplement nor the execution, delivery, performance or effectiveness of this Credit Agreement Supplement:

 

  

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        (a)  

	
impairs the validity, effectiveness or priority of the Liens granted pursuant to any Loan Document, and such Liens continue unimpaired with the same priority to secure repayment of all Obligations, whether heretofore or hereafter incurred; or

 

	
        (b)  

	
requires that any new filings be made or other action taken to perfect or to maintain the perfection of such Liens.

 

	
10.

	
Syndication Agent.  General Electric Capital Corporation shall be Syndication Agent with respect to the Incremental Term Loans hereunder.

 

	
11.  

	
Entire Agreement.  This Credit Agreement Supplement, the Credit Agreement and the other Loan Documents constitute the entire agreement among the parties hereto with respect to the subject matter hereof and thereof and supersede all other prior agreements and understandings, both written and verbal, among the parties hereto with respect to the subject matter hereof.  Except as expressly set forth herein, this Credit Agreement Supplement shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of any party under, the Credit Agreement, nor alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect.  It is understood and agreed that each reference in each Loan Document to the Credit Agreement, whether direct or indirect, shall hereafter be deemed to be a reference to the Credit Agreement as amended hereby and that this Credit Agreement Supplement is a Loan Document.

 

	
12.  

	
GOVERNING LAW.  THIS CREDIT AGREEMENT SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.  SECTIONS 11.14 AND 11.15 OF THE CREDIT AGREEMENT ARE HEREBY INCORPORATED BY REFERENCE INTO THIS CREDIT AGREEMENT SUPPLEMENT AND SHALL APPLY HERETO.

 

	
13.  

	
Severability.  If any provision of this Credit Agreement Supplement is held to be illegal, invalid or unenforceable, the legality, validity and enforceability of the remaining provisions of this Credit Agreement Supplement shall not be affected or impaired thereby.  The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

	
14.  

	
Counterparts.  This Credit Agreement Supplement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Delivery by facsimile or other electronic means of an executed counterpart of a signature page to this Credit Agreement Supplement shall be effective as delivery of an original executed counterpart of this Credit Agreement Supplement.

 

  

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IN WITNESS WHEREOF, each of the undersigned has caused its duly authorized officer to execute and deliver this Credit Agreement Supplement as of the date first written above.

 

 

	  	
BANK OF AMERICA, N.A.,

    as Administrative Agent

	  
	  	  	  
	  	  	  
	  	  	  
	  	
By:

	
/s/ Paley Chen

	  
	  	  	
Name:

	
Paley Chen

	  
	  	  	
Title:

	
Vice President

	  

[Credit Agreement Supplement]

  

  

  

	  	
BANK OF AMERICA, N.A.,

    as Incremental Term Loan Lender

	  
	  	  	  
	  	  	  
	  	  	  
	  	
By:

	
/s/ Lisa M. Webster

	  
	  	  	
Name:

	
Lisa M. Webster

	  
	  	  	
Title:

	
Director

	  

 

[Credit Agreement Supplement]

  

  

  

	  	
CENVEO CORPORATION

	  
	  	  	  
	  	  	  
	  	  	  
	  	
By:

	
/s/ Mark S. Hiltwein

	  
	  	  	
Name:

	
Mark S. Hiltwein

	  
	  	  	
Title:

	
Chief Financial Officer

	  

	  	
CENVEO, INC.

	  
	  	  	  
	  	  	  
	  	  	  
	  	
By:

	
/s/ Mark S. Hiltwein

	  
	  	  	
Name:

	
Mark S. Hiltwein

	  
	  	  	
Title:

	
Chief Financial Officer

	  

[Credit Agreement Supplement]

  

  

  

AGREED AND ACCEPTED:

CENVEO COMMERCIAL OHIO, LLC, a Colorado limited liability company

CNMW INVESTMENTS, INC., a Delaware corporation

CENVEO GOVERNMENT PRINTING, INC., a Colorado corporation

CENVEO SERVICES, LLC, a Colorado limited liability company

DISCOUNT LABELS, LLC, an Indiana limited liability company

CENVEO OMEMEE LLC, a Delaware limited liability company

COLORHOUSE CHINA, INC., a Colorado corporation

RX JV HOLDING, INC., a Delaware corporation

CRX JV, LLC, a Delaware limited liability company

CRX HOLDING, INC., a Delaware corporation

RX TECHNOLOGY CORP., a Delaware corporation

CADMUS PRINTING GROUP, INC., a Virginia corporation

CADMUS FINANCIAL DISTRIBUTION, INC.  a Virginia corporation

CADMUS TECHNOLOGY SOLUTIONS, INC., a Virginia corporation

GARAMOND/PRIDEMARK PRESS, INC., a Maryland corporation

WASHBURN GRAPHICS, INC., a North Carolina corporation

CADMUS JOURNAL SERVICES, INC., a Virginia corporation

CADMUS DELAWARE, INC., a Delaware corporation

CADMUS UK, INC., a Virginia corporation

EXPERT GRAPHICS, INC., a Virginia corporation

CADMUS MARKETING GROUP, INC., a Virginia corporation

CADMUS DIRECT MARKETING, INC. , a North Carolina corporation

CADMUS INTERACTIVE, INC., a Georgia corporation

CADMUS MARKETING, INC., a Virginia corporation

CADMUS/O’KEEFE MARKETING, INC., a Virginia corporation

OLD TSI, INC., a Georgia corporation

CADMUS INVESTMENTS, LLC, a Delaware limited liability company

PORT CITY PRESS, INC., a Maryland corporation

SCIENCE CRAFTSMAN INCORPORATED, a New York corporation

CADMUS INTERNATIONAL HOLDINGS, INC., a Virginia corporation

CDMS MANAGEMENT, LLC, a Delaware limited liability company

MADISON/GRAHAM COLORGRAPHICS, INC., a California corporation

PC INK CORP., a Delaware corporation

CENVEO NIC, INC. (formerly known as Printegra Corporation), a Georgia corporation

VSUB HOLDING COMPANY, a Virginia corporation

VAUGHAN PRINTERS INCORPORATED, a Florida corporation

 

 

	
By:

	
/s/ Mark S. Hiltwein

	  
	  	
Name:

	
Mark S. Hiltwein

	  
	  	
Title:

	
Chief Financial Officer

	  

[Credit Agreement Supplement]

  

  

  

MADISON/GRAHAM COLORGRAPHICS  INTERSTATE SERVICES, INC.,

a California corporation

COMMERCIAL ENVELOPE MANUFACTURING CO. INC., a New York corporation

CENVEO CEM, INC., a Delaware corporation

CENVEO CEM, LLC, a Delaware limited liability company

REX 2010, LLC, a Florida limited liability company

136 EASTPORT ROAD, LLC, a Delaware limited liability company

LIGHTNING LABELS, LLC, a Delaware limited liability company

NASHUA CORPORATION, a Massachusetts corporation

NASHUA INTERNATIONAL, INC., a Delaware corporation

IMPAXX, INC., a Delaware corporation

CMS GILBRETH PACKAGING SYSTEMS, INC., a Delaware corporation

ENVELOPE PRODUCT GROUP, LLC, a Delaware limited liability company

	
By:

	
/s/ Mark S. Hiltwein

	  
	  	
Name:

	
Mark S. Hiltwein

	  
	  	
Title:

	
Chief Financial Officer

	  

[Credit Agreement Supplement]

  

  

  

SCHEDULE A

to CREDIT AGREEMENT SUPPLEMENT

 

	
Name of New Loan Lender

	
Type of Commitment

	
Amount

	
BANK OF AMERICA, N.A.

 

	
Incremental Term Loan Commitment

	
$65,000,000

[Joinder Agreement]e61933099ex10_2.htm

Exhibit 10.2

AMENDMENT NO. 3

 

AMENDMENT NO. 3 (this “Amendment”), dated as of June 5, 2012, to that certain AMENDED AND RESTATED CREDIT AGREEMENT entered into as of December 21, 2010 and amended by Amendment No. 1 dated as of October 28, 2011 and further amended by Amendment No. 2 dated as of February 3, 2012 (as so amended, the “Credit Agreement”), among CENVEO CORPORATION, a Delaware corporation (the “Borrower”), CENVEO, INC., a Colorado corporation (“Holdings”), each lender from time to time party thereto (collectively, the “Lenders” and individually, a “Lender”), and BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.

 

 

W I T N E S S E T H :

 

WHEREAS, pursuant to Section 11.01 of the Credit Agreement the Borrower and the Required Lenders desire to amend the Credit Agreement as set forth in Section One below.

 

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

 

SECTION ONE - Amendments.  Subject to the satisfaction of the conditions set forth in Section Two hereof:

 

	
a.  

	
Section 1.01 of the Credit Agreement is hereby amended by adding the following defined terms in proper alphabetical order:

 

“Amendment No. 3 Effective Date” means the date on which Amendment No. 3, dated as of June 5, 2012, to this Agreement shall have become effective in accordance with its terms (which date is expected to be June 8, 2012).

 

	
b.  

	
Section 1.01 of the Credit Agreement is hereby amended by amending and restating the definition of “Applicable Rate” as follows:

 

“Applicable Rate” means, in respect of each Facility, (a) 5.125% with respect to Eurodollar Rate Loans and Letters of Credit and (b) 4.125% with respect to Base Rate Loans.

 

	
c.  

	
Section 1.01 of the Credit Agreement is hereby amended by adding to the parenthetical at the end of the definition of “Excess Cash Flow” immediately after “Section 7.15(d)” the words “or Section 7.15(j)”.

 

	
d.  

	
Section 2.05(b) of the Credit Agreement is hereby amended by adding at the end of such Section a new section (viii) as follows:

 

“(viii) Cash.  If at any time that there are Revolving Credit Loans, Swing Line Loans or L/C Borrowings outstanding, (x) the Loan Parties, collectively,

 

  

  

  

have more than $10,000,000 in cash or Cash Equivalents for five consecutive Business Days or (y) the  Subsidiaries that are not Loan Parties, collectively, have more than $10,000,000 in cash or Cash Equivalents for ten consecutive Business Days, in each case, on the next Business Day after such fifth or tenth consecutive Business Day, as the case may be, the Borrower shall immediately prepay the L/C Borrowings, Revolving Credit Loans or Swing Line Loans in accordance with Section 2.05(b)(vii) using an aggregate amount of cash equal to such excess; provided that after the payment in full of all Revolving Credit Loans and Swing Line Loans the Borrower shall not be required to Cash Collateralize the L/C Obligations solely as a result of this Section 2.05(b)(viii).”

 

	
e.  

	
Section 2.05(e) of the Credit Agreement is hereby amended by replacing the words “first anniversary of the Amendment and Restatement Effective Date” with “date that is six months after the Amendment No. 3 Effective Date.”

 

	
f.  

	
Section 7.11(c) of the Credit Agreement is hereby amended by replacing the table in such Section with the following:

 

	
Period

	
Maximum Consolidated Leverage Ratio

	
Q4 2010 – Q4 2012

	
2.50 to 1.00

	
Q1 2013 and thereafter

	
2.25 to 1.00

 

 

	
g.  

	
Section 7.15 of the Credit Agreement is hereby amended by (i) deleting the word “and” at the end of clause (h) thereof, (ii) replacing the period at the end of clause (i) thereof with “; and”, and (iii) adding a new clause (j) at the end of such Section as follows:

 

“(j)           in addition to any prepayment, purchase, redemption, exchange or defeasance of the Subordinated Notes pursuant to subsection (d) or (i) above, the prepayment, purchase, redemption, exchange or defeasance of the Subordinated Notes in an aggregate amount not to exceed $135,000,000 so long as (A) immediately before and after giving effect to any such prepayment, purchase, redemption, exchange or defeasance, (x) no Default shall have occurred and be continuing and (y) Holdings and its Subsidiaries shall be in compliance with all of the covenants set forth in Section 7.11 on a Pro Forma Basis, as determined on the basis of the financial information most recently delivered to the Administrative Agent and the Lenders pursuant to Section 6.01(a) or (b), as applicable, (B) no Term Loans shall be applied to such prepayment, purchase, redemption, exchange or defeasance, (C) after giving effect to such repayment, purchase, redemption, exchange or defeasance, the sum of (x) the aggregate amount of unrestricted cash and Cash Equivalents of the Loan Parties plus (y) the unutilized portion of the Revolving Credit Commitments, shall not be less than $25,000,000, (D) no more than

 

  

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$65,000,000 of internally-generated cash used to prepay, purchase, redeem, exchange or defease the Subordinated Notes shall reduce the calculation of Excess Cash Flow pursuant to clause (viii) of the definition thereof, (E) any Subordinated Notes prepaid, purchased, redeemed, exchanged or defeased pursuant to this Section 7.15(j) shall be, simultaneous with such prepayment, purchase, redemption, exchange or defeasance, permanently retired by the Borrower and (F) at the end of each month during which any prepayment, purchase, redemption, exchange of defeasance of Subordinated Notes is made pursuant to this Section 7.15(j), the Borrower shall notify the Administrative Agent in writing of the aggregate amount of Subordinated Notes so retired during such month and in the aggregate since the Amendment No. 3 Effective Date.”

 

SECTION TWO - Conditions to Effectiveness.  This Amendment shall become effective when, and only when, (i) the Administrative Agent shall have received counterparts of this Amendment executed by the Required Lenders and the Borrower and an acknowledgment of this Amendment executed by each Guarantor, (ii) the Credit Agreement Supplement among the Loan Parties, the Administrative Agent and the lenders party thereto, dated as of the date hereof, shall have become effective and (iii) all Lenders who have executed this Amendment prior to 12:00 P.M. New York City time on June 5, 2012 (including, for the avoidance of doubt, any Person who is to become a Lender under the Credit Agreement Supplement referred to in clause (ii) of this Section Two) shall have received a fee equal to 0.375% of their outstanding Revolving Credit Commitments and Term Loans.  The effectiveness of this Amendment (other than Sections Five, Six and Seven hereof) is conditioned upon the accuracy of the representations and warranties set forth in Section Three hereof.

 

SECTION THREE - Representations and Warranties; Covenants.  The Borrower represents and warrants to the Administrative Agent and the Lenders that both before and after giving effect to this Amendment, (x) no Default has occurred and is continuing; and (y) the representations and warranties of the Borrower and each other Loan Party contained in Article V of the Credit Agreement or any other Loan Document, or which are contained in any document that has been furnished at any time under or in connection with any Loan Document, are true and correct in all material respects (except that any representation and warranty that is qualified as to “materiality” or “Material Adverse Effect” is true and correct in all respects) on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (except that any representation and warranty that is qualified as to “materiality” or “Material Adverse Effect” is true and correct in all respects) as of such earlier date, and except that, for purposes of this Section Three, the representations and warranties contained in Sections 5.05(a) and (b) of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to Sections 6.01(a) and (b) of the Credit Agreement, respectively.

 

SECTION FOUR - Reference to and Effect on the Credit Agreement.  On and after the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in each of the other Loan Documents to “the Credit Agreement”,

 

  

-3-

  

“thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement, as amended by this Amendment.  The Credit Agreement and each of the other Loan Documents, as specifically amended by this Amendment, are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.  Without limiting the generality of the foregoing, the Collateral Documents and all of the Collateral described therein do and shall continue to secure the payment of all Obligations of the Loan Parties under the Loan Documents.  The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as an amendment or waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor constitute an amendment or waiver of any provision of any of the Loan Documents.

 

SECTION FIVE - Costs, Expenses and Taxes.  The Borrower agrees to pay all reasonable costs and expenses of the Administrative Agent in connection with the preparation, execution and delivery of this Amendment and the other instruments and documents to be delivered hereunder, if any (including, without limitation, the reasonable fees and expenses of Cahill Gordon & Reindel llp, counsel for the Administrative Agent) in accordance with the terms of Section 11.04 of the Credit Agreement.

 

SECTION SIX - Execution in Counterparts.  This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute but one and the same agreement.  Delivery of an executed counterpart of a signature page to this Amendment by facsimile or electronic transmission shall be effective as delivery of a manually executed counterpart of this Amendment.

 

SECTION SEVEN - Governing Law.  This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York.

 

[SIGNATURE PAGE FOLLOWS]

  

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the day and year first above written.

 

	  	
CENVEO CORPORATION

	  
	  	  	  
	  	  	  
	  	  	  
	  	
By:

	
  /s/ Mark S. Hiltwein

	  
	  	  	
Name:

	
Mark S. Hiltwein

	  
	  	  	
Title:

	
CFO

	  

[Cenveo Amendment No. 3 Signature Page]

  

  

  

ACKNOWLEDGED BY:

CENVEO INC., a Colorado Corporation

CENVEO COMMERCIAL OHIO, LLC, a Colorado limited liability company

CNMW INVESTMENTS, INC., a Delaware corporation

CENVEO GOVERNMENT PRINTING, INC., a Colorado corporation

CENVEO SERVICES, LLC, a Colorado limited liability company

DISCOUNT LABELS, LLC, an Indiana limited liability company

CENVEO OMEMEE LLC, a Delaware limited liability company

COLORHOUSE CHINA, INC., a Colorado corporation

RX JV HOLDING, INC., a Delaware corporation

CRX JV, LLC, a Delaware limited liability company

CRX HOLDING, INC., a Delaware corporation

RX TECHNOLOGY CORP., a Delaware corporation

CADMUS PRINTING GROUP, INC., a Virginia corporation

CADMUS FINANCIAL DISTRIBUTION, INC.  a Virginia corporation

CADMUS TECHNOLOGY SOLUTIONS, INC., a Virginia corporation

GARAMOND/PRIDEMARK PRESS, INC., a Maryland corporation

WASHBURN GRAPHICS, INC., a North Carolina corporation

CADMUS JOURNAL SERVICES, INC., a Virginia corporation

CADMUS DELAWARE, INC., a Delaware corporation

CADMUS UK, INC., a Virginia corporation

EXPERT GRAPHICS, INC., a Virginia corporation

CADMUS MARKETING GROUP, INC., a Virginia corporation

CADMUS DIRECT MARKETING, INC. , a North Carolina corporation

CADMUS INTERACTIVE, INC., a Georgia corporation

CADMUS MARKETING, INC., a Virginia corporation

CADMUS/O’KEEFE MARKETING, INC., a Virginia corporation

OLD TSI, INC., a Georgia corporation

CADMUS INVESTMENTS, LLC, a Delaware limited liability company

PORT CITY PRESS, INC., a Maryland corporation

SCIENCE CRAFTSMAN INCORPORATED, a New York corporation

CADMUS INTERNATIONAL HOLDINGS, INC., a Virginia corporation

CDMS MANAGEMENT, LLC, a Delaware limited liability company

MADISON/GRAHAM COLORGRAPHICS, INC., a California corporation

PC INK CORP., a Delaware corporation

CENVEO NIC, INC. (formerly known as Printegra Corporation), a Georgia corporation

VSUB HOLDING COMPANY, a Virginia corporation

VAUGHAN PRINTERS INCORPORATED, a Florida corporation

	
By:

	
/s/ Mark S. Hiltwein

	  
	  	
Name:

	
Mark S. Hiltwein

	  
	  	
Title:

	
Chief Financial Officer

	  

[Cenveo Amendment No. 3 Signature Page]

  

  

  

MADISON/GRAHAM COLORGRAPHICS  INTERSTATE SERVICES, INC.,

a California corporation

COMMERCIAL ENVELOPE MANUFACTURING CO. INC., a New York corporation

CENVEO CEM, INC., a Delaware corporation

CENVEO CEM, LLC, a Delaware limited liability company

REX 2010, LLC, a Florida limited liability company

136 EASTPORT ROAD, LLC, a Delaware limited liability company

LIGHTNING LABELS, LLC, a Delaware limited liability company

NASHUA CORPORATION, a Massachusetts corporation

NASHUA INTERNATIONAL, INC., a Delaware corporation

IMPAXX, INC., a Delaware corporation

CMS GILBRETH PACKAGING SYSTEMS, INC., a Delaware corporation

ENVELOPE PRODUCT GROUP, LLC, a Delaware limited liability company

	
By:

	
/s/ Mark S. Hiltwein

	  
	  	
Name:

	
Mark S. Hiltwein

	  
	  	
Title:

	
Chief Financial Officer

	  

[Cenveo Amendment No. 3 Signature Page]

  

  

  

	  	
BANK OF AMERICA, N.A., as Administrative 

    Agent

	  
	  	  	  
	  	  	  
	  	  	  
	  	
By:

	
/s/ Paley Chen

	  
	  	  	
Name:

	
Paley Chen

	  
	  	  	
Title:

	
Vice President

	  

[Cenveo Amendment No. 3 Signature Page]

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