Document:

ex10-1

 

EXHIBIT 10.1

AMENDMENT NO. 1 TO

TERM LOAN AGREEMENT

     THIS AMENDMENT NO. 1 TO TERM LOAN AGREEMENT (the “Amendment”) is made and
entered into as of September 6, 2001, among NEW PLAN EXCEL REALTY TRUST, INC.,
a Maryland corporation (the “Borrower”), FLEET NATIONAL BANK, CITIZENS BANK OF
RHODE ISLAND, SUNTRUST BANK, COMPASS BANK, COMERICA BANK and WELLS FARGO BANK,
NATIONAL ASSOCIATION as the Lenders under the hereinafter defined Loan
Agreement (collectively, “Lenders”), and FLEET NATIONAL BANK, as administrative
agent for the Lenders (in such capacity, the “Administrative Agent”).

RECITALS:

     A.     The Borrower, the Lenders and the Administrative Agent entered into
that certain Term Loan Agreement dated as of May 9, 2001 (the “Loan Agreement”;
capitalized terms used in this Amendment which are not otherwise defined herein
shall have the meaning ascribed to such terms in the Loan Agreement).

     B.     The Borrower has requested that certain provisions provided for in the
Loan Agreement be amended as hereinafter set forth.

     C.     The Administrative Agent and the Lenders are agreeable to such request,
subject to the terms of this Amendment.

     NOW THEREFORE, for and in consideration of the mutual promises and mutual
agreements contained herein, and for other good and valuable consideration, the
receipt of which is hereby acknowledged, the parties hereto do hereby agree as
follows:

     1.     Amendments to Loan Agreement.

             (a)        The definition of “Advance Termination Date” contained in Section 1.1
of the Loan Agreement, on page 1 thereof, is hereby deleted in its entirety and
the following definition is hereby inserted in lieu thereof:

     “Advance Termination Date”: October 31, 2001.

             (b)        Section 8.3(1) of the Loan Agreement, on pages 52 and 53 thereof, is
hereby deleted in its entirety and the following paragraph is hereby inserted
in lieu thereof:

		
	 	"(1) repurchases of any common or preferred stock or
other equity interests (or securities convertible into
such interests) in the Borrower that have been
previously issued by the Borrower which do not exceed,
in any calendar year, (1) 10% of the aggregate
outstanding shares of common and preferred stock and
other equity interests in Borrower as of the date
hereof, in any combination, plus (2) 10% of the
aggregate of any additional shares of common

 

		
	 	and preferred stock and other equity interests in
Borrower issued after the date hereof, in any
combination;”.

     2.     Reaffirmation of Guaranty. Each Subsidiary Guarantor is executing this
Amendment to evidence its consent and agreement to the terms hereof. Each
Subsidiary Guarantor confirms that the Subsidiary Guaranty is in full force and
effect in accordance with the terms thereof and continues to be the binding
obligation of each Subsidiary Guarantor.

     3.     Effectiveness of Amendment. The effectiveness of this Amendment is
subject to the receipt by the Administrative Agent of this Amendment duly
executed and delivered by the Borrower, the Administrative Agent, and the
Lenders, in sufficient copies for the Borrower, the Lenders and the
Administrative Agent to receive an original thereof.

     4.     No Other Amendments. Except to the extent amended hereby, all terms,
provisions and conditions of the Loan Agreement shall continue in full force
and effect and shall remain enforceable and binding in accordance with its
terms.

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

     6.     Counterparts. This Amendment may be executed in any number of
counterparts, all of which when taken together shall constitute one and the
same document, and each party hereto may execute this Amendment by signing any
of such counterparts.

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

     8.     Trust Limitation for New Plan Realty Trust. This Amendment and all
documents, agreements, understandings and arrangements relating to this
transaction that have been negotiated, executed and delivered on behalf of New
Plan Realty Trust (“NPRT”) have been so negotiated, executed and delivered by
the trustees or officers thereof in their respective capacity under the
Declaration of Trust, and not individually, and bind only the trust estate of
NPRT, and no trustee, officer, employee, agent or shareholder of NPRT shall be
bound or held to any personal liability or responsibility in connection with
the agreements, obligations and undertakings of NPRT hereunder, and any person
or entity dealing with NPRT in connection therewith shall look only to the
trust estate for the payment of any claim or for the performance of any
agreement, obligation or undertaking thereunder. The Administrative Agent and
the Lenders hereby acknowledge and agree that each agreement and other document
executed by NPRT in accordance with or in respect of this transaction shall be
deemed and treated to include in all respects and for all purposes the
foregoing exculpatory provision.

-2-

 

     IN WITNESS WHEREOF, the parties hereto have caused their duly authorized
officers to execute and deliver this Amendment No. 1 to Term Loan Agreement as
of the date first above written.

	 	 	 	 
		 	
NEW PLAN EXCEL REALTY TRUST, INC
	 
	 	 	
By:	/s/ JOHN B. ROCHE

	 	 	 	
John B. Roche,
	 	 	 	
Chief Financial Officer
	 
	 	 	
FLEET NATIONAL BANK, as Administrative
	 	 	
Agent and a Lender
	 
	 	 	
By:	/s/ DANIEL P. STEGEMOELLER

	 	 	 	
Daniel P. Stegemoeller,
	 	 	 	
Director
	 
	 	 	
CITIZENS BANK OF RHODE ISLAND
	 
	 	 	
By:	/s/ CRAIG E. SCHERMERHORN

	 	 	 	
Craig E. Schermerhorn,
	 	 	 	
Vice President
	 
	 	 	
SUNTRUST BANK
	 
	 	 	
By:	/s/ NANCY B. RICHARDS

	 	 	 	
Nancy B. Richards,
	 	 	 	
Vice President
	 
	 	 	
COMPASS BANK
	 
	 	 	
By:	/s/ CHRISTOPHER M. ROGERS

	 	 	 	
Christopher M. Rogers,
	 	 	 	
Vice President

-3-

 

	 	 	 	 
	 	 	
COMERICA BANK
	 
	 	 	
By:	/s/ CASEY OSTRANDER

	 	 	 	
Casey Ostrander,
	 	 	 	
Account Officer
	 
	 	 	
WELLS FARGO BANK, NATIONAL
	 	 	
ASSOCIATION
	 
	 	 	
By:	/s/ WALTER C. SIEROTKO, JR.

	 	 	 	
Walter C. Sierotko, Jr.,
	 	 	 	
Vice President

-4-

 

Each of the following Subsidiary

Guarantors consents and agrees to

the terms of this Amendment and the

provisions of Section 2 thereof:

	 	 
	
NEW PLAN REALTY TRUST
	 
	
By:	/s/ JOHN B. ROCHE

	 	
John B. Roche,
	 	
Chief Financial Officer
	 
	
EXCEL REALTY TRUST - ST. INC.
	 
	
By:	/s/ JOHN B. ROCHE

	 	
John B. Roche,
	 	
Chief Financial Officer

-5-ex10-2

 

EXHIBIT 10.2

[BNY LETTERHEAD]

July 27, 2001

New Plan Excel Realty Trust, Inc.

1120 Avenue of the Americas

New York, New York 10036

Attn: John B. Roche, Chief Financial Officer

	 	 	 
	Re:	 	
Those two certain Credit Agreements, each dated as of
November 17, 1999, by and among New Plan Excel Realty Trust, Inc.,
the Lenders who are parties thereto, Bank One, N. A. and Fleet
National Bank (f/k/a BankBoston, N. A.), as Co-Documentation Agents,
and The Bank of New York , as Administrative Agent for such Lenders
(the “Credit Agreements”)

Dear John:

     Please be advised that the Required Lenders under each of the Credit
Agreements have approved the clarification of Section 8.3(l) of the Credit
Agreement as follows:

     Section 8.3(l) of each Credit Agreement is deleted in its entirety and the
following paragraph is inserted in lieu thereof:

		
	 	"(l) repurchases of any common or preferred stock or other equity
interests (or securities convertible into such interests) in the
Borrower that have been previously issued by the Borrower which do
not exceed, in any calendar year, (1) 10% of the aggregate
outstanding shares of common and preferred stock and other equity
interests in Borrower as of the date hereof, in any combination,
plus (2) 10% of the aggregate of any additional shares of common
and preferred stock and other equity interests in Borrower issued
after the date hereof, in any combination;”.

	 	 	 
	THE BANK OF NEW YORK,

as Administrative Agent
	 
	By:	 	
/s/ FREDERICK LAUDISI

	 	 	
     Frederick Laudisi,
	 	 	
     Vice President

Acknowledged, agreed and accepted

this 30 day of July, 2001

NEW PLAN EXCEL REALTY TRUST, INC.

	 	 	 
	By:	 	
/s/ JOHN B. ROCHE

	 	 	
     Name: John B. Roche
	 	 	
     Title: CFOex10-17

 

EXHIBIT 10.17

THIRD AMENDMENT TO CREDIT AGREEMENT

     This Third Amendment (the “Third Amendment”) dated as of September 28,
2001 amends that certain $120,000,000 Multi-Currency Revolving Credit Agreement
dated as of January 9, 1998 among American Management Systems, Incorporated (as
a Borrower and the Guarantor), various other Borrowers, the Lenders named
therein and Bank of America, N.A., formerly NationsBank, N.A., as
Administrative Agent, and Wachovia Bank, N.A., as Documentation Agent, as
amended by a certain First Amendment to Credit Agreement dated as of March 16,
1998 and a certain Second Amendment to Credit Agreement dated as of March 21,
2001, and as further modified by a certain Waiver and Agreement dated as of
July 25, 2001 (such Credit Agreement, as amended or modified by such amendments
and such waiver and agreement, being referred to as the “Agreement”).

     WHEREAS, the Borrowers and the Guarantor have requested that the Lenders
amend certain provisions of the Agreement, and the Lenders are willing to amend
the Agreement as herein provided;

     NOW, THEREFORE, in consideration of the promises and the mutual covenants
contained herein, the Borrowers, the Guarantor and the Lenders agree as
follows:

     1.     Definitions. Capitalized terms used herein and not otherwise defined
herein shall have the meanings assigned to them in the Agreement.

     2.     EBILTDA. The definition of “EBILTDA” in Section 1.1 of the Agreement
shall be amended by adding the following sentences and adjustment table at the
end of such definition:

		
	 	In addition, for the purposes of Section 5.2(b) hereof
only, the amount of EBILTDA computed with respect to
any four-fiscal-quarter period that includes any
fiscal quarter described in the adjustment table below
shall be increased by adding back to the amount
otherwise calculated in accordance with the definition
of EBILTDA the amount of restructuring and special
charges set forth opposite such included fiscal
quarter in the following adjustment table. If a
four-fiscal-quarter period includes more than one
fiscal quarter described in such table, the amount of
EBILTDA computed with respect to such
four-quarter-period shall be increased by the
aggregate amount of restructuring and special charges
set forth opposite each such included fiscal quarter.

 

 

	 	 	 	 	 
	 	 	Adjustment Table
	 	 	

	Fiscal Quarter Ending	 	Restructuring and Special Charges
	

        	 	

	March 31, 2001
	 	$13,800,000
	June 30, 2001
	 	$16,100,000
	September 30, 2001
	 	The amount, not to exceed $14,000,000,
	 
	 	recorded as restructuring charges for the
	 
	 	fiscal quarter ended September 30, 2001.

		
	 	Without limiting the generality of the
introduction to the preceding adjustment table, the
parties acknowledge that the adjustments to EBILTDA
set forth in such table shall not apply in determining
the ratio of EBILTDA to Interest and Lease Charges for
purposes of the definition of “Applicable Rate.”

     3.     Fixed Charge Coverage Ratio. Section 5.2(b) of the Credit Agreement is
amended in its entirety so that as amended it shall read as follows:

		
	 	     (b)     Fixed Charge Coverage Ratio. Maintain as of
the end of each fiscal quarter for the four fiscal
quarters ending on such date, a ratio of EBILTDA to
Interest and Lease Charges of not less than (i) 2.25
to 1.0 as of December 31, 1997 and March 31, 1998,
(ii) 2.5 to 1.0 as of June 30, 1998 and as of the last
day of each fiscal quarter thereafter through
September 30, 2001, (iii) 2.375 to 1.0 as of December
31, 2001, March 31, 2002 and June 30, 2002, and (iv)
2.5 to 1.0 as of September 30, 2002 and as of the last
day of each fiscal quarter thereafter.

     4.     Conditions Precedent. The effectiveness of this Consent Agreement
shall be subject to fulfillment of the following conditions:

		
	 	     (a)     The Administrative Agent shall have received an original of this
Consent Agreement executed by AMS (as Borrower and as Guarantor), each of
the other Borrowers and the Required Lenders; and

		
	 	     (b)     AMS shall have paid to the Administrative Agent and each Lender
all amounts required to be paid to such Persons pursuant to the fee
letter dated September 28, 2001 between Bank of America, N.A. and AMS.

     5.     Acknowledgement of Guarantor. The Guarantor affirms its obligations
under the Guaranty and consents to this Third Amendment.

2

 

     6.     Representations and Warranties. Each Borrower represents and warrants
to the Agents and each Lender as follows:

              6.1     Existence. Each of the Borrower and its Subsidiaries is a
corporation or partnership duly organized, validly existing and in good
standing under the Laws of the nation in which it is organized and any
political subdivision thereof, and is duly qualified to do business and in good
standing in each other nation and any political subdivision thereof where the
nature or extent of its business activities requires such qualification, except
where the failure to be so qualified and in good standing could not reasonably
be expected to have a Materially Adverse Effect.

              6.2     Power and Authority. Each of the Borrower and its Subsidiaries has
all requisite power and authority to own or lease its properties, conduct its
business as now conducted and to execute and deliver the Third Amendment and to
perform the Agreement as amended hereby.

              6.3     Authorization and Enforceability. The execution, delivery and
performance of the Third Amendment have been duly authorized by all necessary
corporate or partnership action of each of the Borrower and its Subsidiaries
and require no consent of any Person which has not been obtained, and the Third
Amendment constitutes, and the Agreement as amended hereby constitutes, valid
and binding obligations of each of the Borrower and its Subsidiaries party
thereto, enforceable in accordance with their respective terms, except as such
enforceability may be limited by Debtor Relief Laws and by general principles
of equity.

              6.4     No Violation. The execution, delivery and performance of the Third
Amendment does not and will not violate any Borrower’s or any of its
Subsidiaries’ charter, bylaws, partnership agreement or other organizational
documents, any Laws applicable to such Borrower or any of its Subsidiaries or
any agreement to which such Borrower or any of its Subsidiaries is a party or
by which such Borrower or any of its Subsidiaries is bound, except for
violations of Laws or agreements which could not reasonably be expected to have
a Materially Adverse Effect.

              6.5     No Default. As of the date of this Third Amendment, no Default
Condition or Event of Default has occurred and is continuing under the
Agreement which has not been waived.

     7.     Cost and Expenses. AMS shall pay all reasonable out-of-pocket costs,
fees and expenses of the Administrative Agent incident to this Third Amendment,
including the reasonable fees, out-of-pocket expenses and other disbursements
of Smith Helms Mulliss & Moore, L.L.P., counsel for the Administrative Agent,
in connection with this Third Amendment.

     8.     Reaffirmation. Except as otherwise expressly amended by this Third
Amendment, the Agreement is and shall continue to be in full force and effect
in accordance with its terms. The parties hereto further agree that each
reference in any Loan Document to the

3

 

“Agreement” or the “Loan Agreement” shall
be deemed to refer to the Agreement as amended by
this Third Amendment and as it may be amended, modified, supplemented,
restated, renewed or extended from time to time hereafter.

     9.     Miscellaneous.

              9.1     Governing Law. This Third Amendment shall be governed by, and
construed and interpreted in accordance with, the laws of the State of New
York.

              9.2     No Novation. The transactions described herein do not constitute, and
should not be construed to be, a novation of any indebtedness outstanding under
the Agreement.

              9.3     Successors and Assigns. This Third Amendment shall be binding upon,
inure to the benefit of and be enforceable by the Borrowers, the Guarantor, the
Agents, the Lenders and their respective successors and permitted assigns.

              9.4     Invalidity. If any provision of this Third Amendment shall be held
invalid by any court of competent jurisdiction, such holding shall not
invalidate any other provision hereof.

              9.5     Counterparts. This Third Amendment may be executed in several
counterparts, each of which shall be an original and all of which together
shall constitute but one and the same instrument.

     IN WITNESS WHEREOF, each Borrower, the Guarantor and the Lenders parties
hereto have caused this Third Amendment to be duly executed by their respective
authorized officers as of the day and year first above written.

	 
	AMERICAN MANAGEMENT

SYSTEMS, INCORPORATED,

as Borrower and Guarantor
	 
	By:  /s/ Frank A. Nicoli

Title:  Director

Date:  9/28/01

4

 

	 
	 
	AMS MANAGEMENT SYSTEMS

    DEUTSCHLAND GmbH,

    as Borrower
	 
	By:  /s/ Frank A. Nicoli

Title:   Director

Date:  9/28/01
	 
	AMS MANAGEMENT SYSTEMS

    EUROPE S.A./N.V.,

    as Borrower
	 
	By:  /s/ Frank A. Nicoli

Title:  Director

Date:  9/28/01
	 
	AMS MANAGEMENT SYSTEMS U.K. Ltd.,

as Borrower
	 
	By:  /s/ Frank A. Nicoli

Title:  Director

Date:  9/28/01
	 
	AMS MANAGEMENT SYSTEMS CANADA

    INC.,

    as Borrower
	 
	By:  /s/ Frank A. Nicoli

Title:  Director

Date:  9/28/01
	 
	AMSY MANAGEMENT SYSTEMS

    NETHERLANDS, B.V.,

    as Borrower
	 
	By:  /s/ Frank A. Nicoli

Title:  Director

Date:  9/28/01

5

 

	 
	 
	NORDIC BUSINESS MANAGEMENT

    SYSTEMS AB,

    as Borrower
	 
	By:  /s/ Frank A. Nicoli

Title:  Director

Date:  9/28/01
	 
	AMS MANAGEMENT SYSTEMS

    AUSTRALIA PTY. LIMITED,

    as Borrower
	 
	By:  /s/ Frank A. Nicoli

Title:  Director

Date:  9/28/01
	 
	AMS MANAGEMENT SYSTEMS

    (SWITZERLAND) AG,

    as Borrower
	 
	By:  /s/ Frank A. Nicoli

Title:  Director

Date:  9/28/01
	 
	AMS MANAGEMENT SYSTEMS ITALIA

    S.p.A.,

    as Borrower
	 
	By:  /s/ Frank A. Nicoli

Title:  Director

Date:  9/28/01
	 
	AMS MANAGEMENT SYSTEMS

    FRANCE S.A.,

    as Borrower
	 
	By:  /s/ Frank A. Nicoli

Title:  Director

Date:  9/28/01

6

 

	 
	 
	AMS MANAGEMENT SYSTEMS

    POLAND Sp. Z O.O.,

    as Borrower
	 
	By:  /s/ Frank A. Nicoli

Title:  Director

Date:  9/28/01
	 
	AMERICAN MANAGEMENT SYSTEMS

PORTUGAL-CONSULTORIA E

DESENVOLVIMENTO DE SOFTWARE,

SOCIEDADE UNIPESSOAL IDA, as Borrower
	 
	By:  /s/ Frank A. Nicoli

Title:  Director

Date:  9/28/01
	 
	AMS MANAGEMENT SYSTEMS

    ESPAÑA, S.A.,

    as Borrower
	 
	By:  /s/ Frank A. Nicoli

Title:  Director

Date:  9/28/01

7

 

COMMONWEALTH OF VIRGINIA

CITY/COUNTY OF  ________________    

     The foregoing instrument was acknowledged before me in my jurisdiction
aforesaid this ___ day of ____________ , ____________ by __________________, who is ____________________ of AMS Management Systems Espana, S.A., for and on behalf of
the corporation.

	 	 	 
	 	 	
___________________________
               
Notary Public
	 
	My commission expires: _____________________    	 	 

8

 

	 
	BANK OF AMERICA, N.A.,

as Administrative Agent and Lender
	 
	By:  /s/ John E. Williams

Title:  Managing Diector

Date:  10/1/01
	 
	WACHOVIA BANK, N.A.,

as Documentation Agent and Lender
	 
	By:
	Title:
	Date:
	 
	BANK OF TOKYO - MITSUBISHI

TRUST COMPANY, as Lender
	 
	By:  /s/ Pamela Donnelly

Title:  Vice President

Date:  9/28/01
	 
	COMERICA BANK, as Lender
	 
	By:  /s/ Jeff Lafferty

Title:  Account Representative

Date:  9/28/01
	 
	KBC BANK N.V., as Lender
	 
	By:  /s/ Robert Snauffer  /s/ Sean O’Brien

Title:  First Vice President, Assistant Vice

President

Date: ____________________________

9

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