Document:

EXHIBIT 10.43

 

Exhibit 10.43

[ON THE LETTERHEAD OF ABN AMRO BANK N.V.]

			
	To:	 	UTI Worldwide Inc. (IBC number 141257) (the Company) for itself
and as agent for each of the other Obligors party to the Agreement
(as defined below)

	 	 	 
	For the attention of:

With a copy to:

	 	Lawrence R Samuels

Stephen D. Cooke

Paul Hastings Janofsky & Walker LLP

695 Town Center Drive, Seventeenth Floor,

Costa Mesa,

CA 92626 USA

7 December 2007

Dear Sirs,

US$250,000,000 credit agreement (the Agreement) dated 13 July 2006 and as amended on 11 October
2006 between (among others) the Company and ABN AMRO Bank N.V. as coordinating facility agent,
global facility agent and global issuing bank

	1.	 	Background
	 
	(a)	 	This letter is supplemental to and amends the Agreement.
	 
	(b)	 	We refer to the letter from UTi Worldwide Inc. dated 27 November 2007 requesting and
providing the background to certain amendments to the Agreement.
	 
	(c)	 	Pursuant to clause 33 (Amendments and waivers) of the Agreement, the Global Majority Lenders
and the Majority Lenders have consented to the amendments to the Agreement contemplated by
this letter. Accordingly, we are authorised to execute this letter on behalf of the Finance
Parties.
	 
	2.	 	Interpretation
	 
	(a)	 	Capitalised terms defined in the Agreement have the same meaning when used in this letter
unless expressly defined in this letter.
	 
	(b)	 	The provisions of clause 1.2 (Construction) of the Agreement apply to this letter as though
they were set out in full in this letter except that references to the Agreement are to be
construed as references to this letter.
	 
	3.	 	Amendments
	 
	(a)	 	The Agreement will be amended by this letter in accordance with paragraph (b) below from such
time as the Facility Agent receives from the Company a copy of this letter countersigned by
the Company (the Effective Date).

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	(b)	 	The Agreement will be amended as follows:

	 	(i)	 	Clause 25.8(b)(iv)(B) (Financial Indebtedness) shall be amended by deleting the
figure “US$5,000,000” and replacing it with “US$25,000,000”;
	 
	 	(ii)	 	Clause 25.8(b)(x) (Financial Indebtedness) shall be amended by deleting the
figure “US$40,000,000” and replacing it with “US$90,000,000”;
	 
	 	(iii)	 	Clause 25.14(c)(vi) (Third party guarantees) shall be amended by deleting the
figure “US$5,000,000” and replacing it with “US$25,000,000”;
	 
	 	(iv)	 	Clause 25.15(b)(vi)(B) (Loans out) shall be amended by deleting the figure
“US$5,000,000” and replacing it with “US$25,000,000”; and
	 
	 	(v)	 	Clause 25.18(b)(vii) (Distributions) shall be amended by deleting the figure
“US$5,000,000” and replacing it with “US$25,000,000”.

	(c)	 	The amendment set out in paragraph (b)(ii) above shall be deemed to have effect from 31
October 2007. The Majority Lenders waive any breach of Clause 25.8 (Financial Indebtedness)
between 31 October 2007 and the Effective Date to the extent that such breach was caused by
Financial Indebtedness that is permitted under Clause 25.8(b)(x) of the Agreement as amended
by this letter.
	 
	4.	 	Representations
	 
	 	 	Each Obligor confirms to each Finance Party that on the date of this letter and on the
Effective Date the Repeating Representations:

	 	(a)	 	are true; and
	 
	 	(b)	 	would also be true if references to the Agreement were construed as references
to the Agreement as amended by this letter.

	 	 	Each Repeating Representation is applied to the circumstances existing at the time the
Repeating Representation is made.
	 
	5.	 	Miscellaneous
	 
	(a)	 	This letter is a Finance Document.
	 
	(b)	 	From the Effective Date, the Agreement and this letter will be read and construed as one
document.
	 
	(c)	 	Except as otherwise provided in this letter, the Finance Documents remain in full force and
effect.
	 
	(d)	 	Except to the extent expressly waived in this letter, no waiver of any provision of any
Finance Document is given by the terms of this letter and the Finance Parties expressly
reserve all their rights and remedies in respect of any breach of, or other Default under, the
Finance Documents.
	 
	6.	 	Governing law
	 
	 	 	This letter is governed by English law.

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	7.	 	Counterparts
	 
	 	 	This letter may be executed in any number of counterparts, This has the same effect as if
the signatures on the counterparts were on a single copy of the this letter.

	 	 	 
	/s/ Yolanda Meza

Yolanda Meza

Vice President

	 	/s/ Thomas W. Bittman

ABN AMRO BANK NV

V.P.

For

ABN AMRO BANK N.V.

as Coordinating Facility Agent for and on behalf of the other Finance Parties

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We agree with the terms of this letter.

/s/ Lawrence R. Samuels

For

UTI WORLDWIDE INC.

for itself and as agent for the other Obligors

Date: 7 December 2007

4exv10w44

 

Exhibit 10.44

[ON THE LETTERHEAD OF ABN AMRO BANK N.V.]

To:     UTi Worldwide Inc. (IBC number 141257) (the Company) for itself and as agent for each of the
other Obligors party to the Agreement (as defined below)

	 	 	 
	For the attention of:

	 	Lawrence R Samuels
	With a copy to:

	 	Stephen D. Cooke
	 

	 	Paul Hastings Janofsky & Walker LLP
	 

	 	695 Town Center Drive, Seventeenth Floor,
	 

	 	Costa Mesa, CA 92626 USA

28 March 2008

Dear Sirs,

US$250,000,000 credit agreement (the Agreement) dated 13 July 2006 and as amended on 11 October
2006 and 7 December 2007 between (among others) the Company and ABN AMRO Bank N.V. as coordinating
facility agent, global facility agent and global issuing bank

	1.	 	Background
	 
	(a)	 	This letter is supplemental to the Agreement.
	 
	(b)	 	We refer to the letter from UTi Worldwide Inc. dated 27 March 2008 requesting that certain
waivers are granted under the Agreement.
	 
	(c)	 	Pursuant to clause 33 (Amendments and waivers) of the Agreement, the Majority Lenders have
consented to the amendments to the Agreement contemplated by this letter. Accordingly, we are
authorised to execute this letter on behalf of the Finance Parties.
	 
	2.	 	Interpretation
	 
	(a)	 	Capitalised terms defined in the Agreement have the same meaning when used in this letter
unless expressly defined in this letter.
	 
	(b)	 	The provisions of clause 1.2 (Construction) of the Agreement apply to this letter as though
they were set out in full in this letter except that references to the Agreement are to be
construed as references to this letter.

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	3.	 	Waiver
	 
	 	 	From such time as the Facility Agent receives from the Company a copy of this letter
countersigned by the Company (the Effective Date), the Majority Lenders waive the
restriction
in Clause 25.8(a) (Financial Indebtedness) only to the extent necessary in order to permit
UTi South Africa (Pty) Limited to borrow an amount of up to Rand 165,000,000 from Nedbank
Limited (Corporate Division) from 28 March 2008 to 15 April 2008 in order to enable UTi
South Africa (Pty) Limited to meet certain liabilities related to customs duties.
	 
	4.	 	Representations
	 
	 	 	Each Obligor confirms to each Finance Party that on the date of this letter and on the
Effective Date the Repeating Representations:

	 	(a)	 	are true; and
	 
	 	(b)	 	would also be true if references to the Agreement were construed as references
to the Agreement as amended by this letter.
	 
	 	 	 	Each Repeating Representation is applied to the circumstances existing at the time the
Repeating Representation is made.

	5.	 	Miscellaneous
	 
	(a)	 	This letter is a Finance Document.
	 
	(b)	 	From the Effective Date, the Agreement and this letter will be read and construed as one
document.
	 
	(c)	 	Except as otherwise provided in this letter, the Finance Documents remain in full force and
effect.
	 
	(d)	 	Except to the extent expressly waived in this letter, no waiver of any provision of any
Finance Document is given by the terms of this letter and the Finance Parties expressly
reserve all their rights and remedies in respect of any breach of, or other Default under, the
Finance Documents.
	 
	6.	 	Governing law
	 
	 	 	This letter is governed by English law.
	 
	7.	 	Counterparts
	 
	 	 	This letter may be executed in any number of counterparts, This has the same effect as if
the signatures on the counterparts were on a single copy of this letter.

/s/ Allen R. Broyles

For

ABN AMRO BANK N.V.

as Coordinating Facility Agent for and on behalf of the other Finance Parties

2

 

We agree with the terms of this letter.

/s/ Lawrence R. Samuels

For

UTi WORLDWIDE INC.

for itself and as agent for the other Obligors

Date: 28 March 2008

3exv10w45

 

Exhibit 10.45

[ON THE LETTERHEAD OF ABN AMRO BANK N.V.]

	 	 	 
	To:

	 	UTi Worldwide Inc. (IBC number 141257) (the Company) for itself
and as agent for each of the other Obligors party to the Agreement
(as defined below)

	 	 	 
	For the attention of:

	 	Lawrence R. Samuels
	With a copy to:

	 	Stephen D. Cooke
	 

	 	Paul Hastings Janofsky & Walker LLP
	 

	 	695 Town Center Drive, Seventeenth Floor,
	 

	 	Costa Mesa,
	 

	 	CA 92626 USA

10 April 2008

Dear Sirs,

US$250,000,000 credit agreement (the Agreement) dated 13 July 2006 and as amended on 11 October
2006 and 7 December 2007 between (among others) the Company and ABN AMRO Bank N.V. as coordinating
facility agent, global facility agent and global issuing bank

	1.	 	Background
	 
	(a)	 	This letter is supplemental to and amends the Agreement.
	 
	(b)	 	We refer to the letter from UTi Worldwide Inc. dated 4 April 2008 requesting that certain
waivers are granted under the Agreement and that certain clauses of the Agreement be amended
to prevent further breaches from occurring.
	 
	(c)	 	Pursuant to clause 33 (Amendments and waivers) of the Agreement, the Majority Lenders have
consented to the amendments to the Agreement contemplated by this letter. Accordingly, we are
authorised to execute this letter on behalf of the Finance Parties.
	 
	2.	 	Interpretation
	 
	(a)	 	Capitalised terms defined in the Agreement have the same meaning when used in this letter
unless expressly defined in this letter.
	 
	(b)	 	The provisions of clause 1.2 (Construction) of the Agreement apply to this letter as though
they were set out in full in this letter except that references to the Agreement are to be
construed as references to this letter.
	 
	3.	 	Waivers
	 
	(a)	 	the Company has requested that the Majority Lenders waive the breaches of the following
matters:

	 	(i)	 	Clause 22.15(a) (Labour Matters) only to the extent necessary in order to
permit UTi Logistics Israel Ltd. the existence of collective bargaining arrangements
since 20 September 2007;

1

 

	 	(ii)	 	Clause 25.6 (Operating Leases) only to the extent necessary in order to permit
the maximum amount of rental payments made under Operating Leases for the fiscal year
ended 31 January 2008 to be US$123,441,000;
	 
	 	(iii)	 	Clause 25.8(b)(viii) (Financial Indebtedness) only to the extent necessary in
order to permit the continued existence of Financial Indebtedness in an aggregate
amount of US$ 4,800,000 in relation to the acquisition of the shares in Newlog Ltd.
since 20 March 2008;
	 
	 	(iv)	 	Clause 25.8(b)(xv) (Financial Indebtedness) only to the extent necessary in
order to permit the existence of Local Working Capital Facilities entered into by UTi
Logistics Israel Ltd. between 31 August 2007 and 30 December 2007 in an aggregate
amount of US$ 34,000,000 until 30 November 2008 (for the avoidance of doubt the
existing Letters of Credit supporting the Local Working Capital Facilities referenced
herein shall remain in place);
	 
	 	(v)	 	Clause 34.8 (Resignation of an Obligor (other than the Company)) only to the
extent necessary in order to permit the resignation of Ambassador Brokerage Limited as
the shares in this Obligor was sold on 30 June 2007;
	 
	 	(vi)	 	Schedule 10, Part 4 (Existing Indebtedness — Permitted Indebtedness and
Security) only to the extent necessary in order to permit the existence of guarantees
of EUR 3,000,000 by UTi Worldwide Inc. to each of Credit Commercial de France (now
HSBC) and Etoile Commerciale; and
	 
	 	(vii)	 	Schedule 11, Part 2 (Existing Intercompany Indebtedness — Loan from South
African Obligor to South African Group Non-Obligor) only to the extent necessary in
order to permit the existence of three loans: (a) Deldevco for US$ 752,776, (b) Marine
Link for US$ 289,563 and (c) Portion 118 for US$ 249,123.

	(b)	 	Subject to paragraph (c) below, the Majority Lenders have agreed to waive the breaches
referred to in paragraph (a) above. Accordingly, we are authorised to confirm that the
breaches referred to in paragraph (a) above are waived with effect from the date on which the
Facility Agent receives from the Company a copy of this letter countersigned by the Company
(the Effective Date).
	 
	(c)	 	As a condition to the waiver of subparagraph 3(a)(v) above the Borrower must provide the duly
completed Resignation Request of Ambassador Brokerage Limited.
	 
	4.	 	Amendments
	 
	(a)	 	Subject to subparagraph (b) below, the Agreement will be amended from the Effective Date in
accordance with subparagraph (c) below.
	 
	(b)	 	The Agreement will be amended by this letter from such time as the Facility Agent receives
from the Company a copy of this letter countersigned by the Company (the Effective Date).
	 
	(c)	 	The Agreement will be amended as follows:

	 	(i)	 	Clause 25.6(b) (Operating Leases) shall be amended by replacing
“US$120,000,000” by “US$165,000,000”;

2

 

	 	(ii)	 	Schedule 10 (Existing Indebtedness) shall be amended by (i) replacing
“€1,100,000” for Etoile Commerciale with “€3,000,000” and by (ii) replacing
“€1,120,000” for HSBC with “€3,000,000”;
	 
	 	(iii)	 	Schedule 11 (Existing Intercompany Indebtedness) shall be replaced in full by
the new Schedule 11 which is set out at Appendix A hereto; and
	 
	 	(iv)	 	Schedule 13 (Collective Bargaining Arrangements) shall be amended by the
addition of “UTi Logistics Israel Ltd.” to the list of collective bargaining
arrangements.

	5.	 	Representations

Each Obligor confirms to each Finance Party that on the date of this letter and on the Effective
Date the Repeating Representations:

	(a)	 	are true; and
	 
	(b)	 	would also be true if references to the Agreement were construed as references to the
Agreement as amended by this letter.

Each Repeating Representation is applied to the circumstances existing at the time the Repeating
Representation is made.

	6.	 	Fees

The Company must pay to the Coordinating Facility Agent (for the consenting Majority Lenders) a
waiver fee of 0.075 per cent. on the date on which the Company countersigns this letter to the
account notified to the Company by the Coordinating Facility Agent for this purpose.

	7.	 	Miscellaneous
	 
	(a)	 	This letter is a Finance Document.
	 
	(b)	 	From the Effective Date, the Agreement and this letter will be read and construed as one
document.
	 
	(c)	 	Except as otherwise provided in this letter, the Finance Documents remain in full force and
effect.
	 
	(d)	 	Except to the extent expressly waived in this letter, no waiver of any provision of any
Finance Document is given by the terms of this letter and the Finance Parties expressly
reserve all their rights and remedies in respect of any breach of, or other Default under, the
Finance Documents.
	 
	8.	 	Governing law

This letter is governed by English law.

	9.	 	Counterparts

This letter may be executed in any number of counterparts, This has the same effect as if the
signatures on the counterparts were on a single copy of the this letter.

3

 

     ABN AMRO BANK N.V.

	 	 	 
	/s/ Allen R. Broyles

	 	/s/ Thomas W. Bittman
	for

	 	V.P.

AB AMRO BANK N.V.

as Coordinating Facility Agent for and on behalf of the other Finance Parties

4

 

We agree with the terms of this letter.

/s/ Lawrence R. Samuels

for

UTi WORLDWIDE INC.

for itself and as agent for the other Obligors

Date: 10 April 2008

5

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