Document:

Amendment No.2 to Second Amended and Restated Receivables Purchase Agreement

 Exhibit 10.26 
 EXECUTION COPY 
 AMENDMENT NO. 2 
 TO 
 SECOND AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT 
 This AMENDMENT NO. 2 (this “Amendment”) dated as of September 15, 2006 is entered into among JWPR CORPORATION
(“JWPR”), as Seller and Servicer, LIBERTY STREET FUNDING CORP. (“Liberty”), as the sole Conduit, and THE BANK OF NOVA SCOTIA, as agent (in such capacity, the “Agent”) and as the sole Financial
Institution (in such capacity, the “Financial Institution” and together with the Conduit, the “Purchasers”). Capitalized terms used herein without definition shall have the meanings ascribed thereto in the
“Receivables Purchase Agreement” referred to below. 
 PRELIMINARY STATEMENTS 
 Reference is made to that certain Second Amended and Restated Receivables Purchase Agreement dated as of March 24, 2006, among JWPR, Liberty, the
Agent, the Managing Agents and the Financial Institutions from time to time party thereto (as amended, restated, supplemented or modified from time to time, the “Receivables Purchase Agreement”). The parties hereto have agreed to,
among other things, amend the Receivables Purchase Agreement. 
 NOW THEREFORE, in consideration of the premises herein contained, and for
other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto hereby agree as follows: 
 SECTION 1.
Amendment. Subject to the satisfaction of the conditions precedent set forth in Section 3 hereof, the parties hereto agree that the Receivables Purchase Agreement is hereby amended as follows: 
 (a) Section 8.3 of the Receivables Purchase Agreement is hereby amended to delete the final sentence of such section and to replace
such sentence with the following sentence: 
 The Seller and the Servicer shall ensure that (a) by not later than
October 13, 2006, the Seller opens a new Collection Account (the “UK Account”) with Citibank, N.A.— London Branch that is (1) titled in the name of the Seller and (2) subject to a Deed of Trust and Charge
reasonably acceptable to the Agent, (b) by not later than October 27, 2006, each Obligor of then outstanding Receivables originated by JD-UK has been instructed by the Seller or Servicer in writing to remit all payments on the Pool
Receivables and Related Security directly to the UK Account, (c) by not later than November 30, 2006, at least 10% of all Collections in respect of the Receivables originated by JD-UK which are received by the Seller and its Affiliates
during the November 2006 calendar month are remitted by the Obligors thereof directly to the UK Account, (d) by not later than December 31, 2006, at least 35% of all Collections in respect of the Receivables 

 
originated by JD-UK and its Affiliates which are received during the December 2006 calendar month thereafter are remitted by the Obligors thereof directly
to the UK Account and (e) by not later than January 31, 2007, at least 95% of all Collections in respect of the Receivables originated by JD-UK and its Affiliates which are received during the January 2007 calendar month and each calendar
month thereafter are remitted by the Obligors thereof directly to the UK Account. 
 (b) Article XI of the Receivables
Purchase Agreement is hereby amended to add the following Section 11.9 to the end of such article: 
 Section 11.9 Agent as Security Trustee. Notwithstanding any other provision contained in this Agreement or any other Transaction Document, the Agent shall hold any security interest granted hereunder in any Collection Account
located in the United Kingdom as trustee (and not as agent ) for the Agent, the Managing Agents, the Purchasers and the Eligible Counterparties but otherwise on the terms set forth herein. 
 (c) Exhibit I of the Receivables Purchase Agreement is hereby amended to amend and restate the definition of “Deed of Trust and
Charge” set forth therein in its entirety as follows: 
 “Deed of Trust and Charge” means any Deed of
Trust and Charge among a Collection Bank, the Seller and the Agent, in its capacity as a trustee as the same may from time to time be amended, restated, supplemented or otherwise modified. 
 SECTION 2. Representations and Warranties. 
 (a) JWPR represents and warrants that this Amendment constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as such enforcement may be limited by applicable
bankruptcy, insolvency, reorganization or other similar laws relating to or limiting creditors’ rights generally and by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law). 

(b)JWPR represents and warrants that on the date hereof, before and after giving effect to this Amendment, (i) no Amortization
Event or Potential Amortization Event has occurred and is continuing, (ii) the Purchaser Interests of the Purchasers do not exceed the Maximum Purchase Percentage and (iii) each of the representations and warranties of JWPR set forth in
the Receivables Purchase Agreement is true and correct in all material respects. 
 SECTION 3. Conditions Precedent. This Amendment
shall become effective on and as of the date hereof (the “Effective Date”) upon receipt by the Agent of duly executed counterpart signature pages to this Amendment from each party hereto. 
  

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 SECTION 4. Reference to and Effect on the Transaction Documents. 
 (a) Upon the effectiveness of this Amendment, (i) each reference in the Receivables Purchase Agreement to “this Receivables
Purchase Agreement”, “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import shall mean and be a reference to the Receivables Purchase Agreement, as amended or otherwise modified hereby,
and (ii) each reference to the Receivables Purchase Agreement in any other Transaction Document or any other document, instrument or agreement executed and/or delivered in connection therewith, shall mean and be a reference to the Receivables
Purchase Agreement as amended or otherwise modified hereby. 
 (b) Except as specifically amended or modified above, the terms
and conditions of the Receivables Purchase Agreement, all other Transaction Documents and any other documents, instruments and agreements executed and/or delivered in connection therewith, shall remain in full force and effect and are hereby
ratified and confirmed. 
 (c) The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of
any right, power or remedy of the Agent or any Purchaser under the Receivables Purchase Agreement or any other Transaction Document or any other document, instrument or agreement executed in connection therewith, nor constitute a waiver of any
provision contained therein, in each case except as specifically set forth herein. 
 SECTION 5. Reaffirmation of Performance
Undertaking. JohnsonDiversey, Inc. (i) reaffirms all of its obligations under the Performance Undertakings dated as of March 2, 2001, October 24, 2003, and January 12, 2004, respectively, each made by JohnsonDiversey,
Inc., (ii) acknowledges that the Agent, as a party to the Receivables Purchase Agreement, enjoys the benefits of each such Performance Undertaking , and (iii) acknowledges and agrees that each of such Performance Undertakings remains in
full force and effect (including, without limitation, after giving effect to this Amendment). 
 SECTION 6. 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 and delivered shall be deemed to be an original and all of which taken together shall constitute
but one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by telecopier shall be effective as delivery of a manually executed counterpart of this Amendment. 
 SECTION 7. Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of Illinois. 
 SECTION 8. Headings. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of
this Amendment for any other purpose. 
 SECTION 9. Fees and Expenses. JWPR, as Seller, hereby confirms its agreement to pay on demand
all reasonable costs and expenses of the Agent or the Purchasers in connection with the preparation, execution and delivery of this Amendment and any of 

  

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the other instruments, documents and agreements to be executed and/or delivered in connection herewith, including, without limitation, the reasonable fees
and out-of-pocket expenses of counsel to the Agent or the Purchasers with respect thereto. 
 [signature page follows] 
  

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

			
	 JWPR CORPORATION

		
	By:	 	 /s/ Tony A. Sebranek

	Name:	 	Tony A. Sebranek
	Title:	 	Vice President
	
	 LIBERTY STREET FUNDING CORP., as a
 Conduit

		
	By:	 	 /s/ Bernard J. Angelo

	Name:	 	Bernard J. Angelo
	Title:	 	Vice President
	
	 THE BANK OF NOVA SCOTIA, as a Financial
 Institution and Managing Agent

		
	By:	 	 /s/ J. Alan Edwards

	Name:	 	J. Alan Edwards
	Title:	 	Managing Director

  

			
	ACKNOWLEDGED AND AGREED:
	
	JOHNSONDIVERSEY, INC.
		
	By:	 	 /s/ Lori P. Marin

	Name:	 	Lori P. Marin
	Title:	 	Vice President & Corporate Treasurer

 Signature Page to Amendment No. 2Amendment No.3  to Second Amended and Restated Receivables Purchase Agreement

 Exhibit 10.27 
 EXECUTION COPY 
 AMENDMENT NO. 3 
 TO 
 SECOND AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT 
 This AMENDMENT NO. 3 (this “Amendment”) dated as of October 10, 2006 is entered into among JWPR CORPORATION
(“JWPR”), as Seller and Servicer, LIBERTY STREET FUNDING CORP. (“Liberty”), as the sole Conduit, and THE BANK OF NOVA SCOTIA, as agent (in such capacity, the “Agent”) and as the sole Financial
Institution (in such capacity, the “Financial Institution” and together with the Conduit, the “Purchasers”). Capitalized terms used herein without definition shall have the meanings ascribed thereto in the
“Receivables Purchase Agreement” referred to below. 
 PRELIMINARY STATEMENTS 
 Reference is made to that certain Second Amended and Restated Receivables Purchase Agreement dated as of March 24, 2006, among JWPR, Liberty, the
Agent, the Managing Agents and the Financial Institutions from time to time party thereto (as amended, restated, supplemented or modified from time to time, the “Receivables Purchase Agreement”). The parties hereto have agreed to,
among other things, amend the Receivables Purchase Agreement. 
 NOW THEREFORE, in consideration of the premises herein contained, and for
other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto hereby agree as follows: 
 SECTION 1.
Amendment. Subject to the satisfaction of the conditions precedent set forth in Section 3 hereof, the parties hereto agree that the Receivables Purchase Agreement is hereby amended as follows: 
 (a) Section 8.3 of the Receivables Purchase Agreement is hereby amended by deleting the the final sentence of such section in its
entirety. 
 (b) The definition of “Dilution Horizon Ratio” set forth in Exhibit I to the Receivables
Purchase Agreement is hereby amended and restated in its entirety as follows: 
 “Dilution Horizon Ratio”
means, at any time, 
 (i) the sum of the aggregate gross sales of the Originators during the most recently ended
Reporting Period, divided by 
 (ii) the Net Eligible Outstanding Balance at such time. 

 (c) Clause (v) of the definition of “Eligible Receivable” set forth in
Exhibit I to the Receivables Purchase Agreement is hereby amended and restated in its entirety as follows: 
 (v)
which by its terms is due and payable within 30 days of the original billing date therefor and has not had its payment terms extended; provided that in the case of any Receivable that but for this clause (v) would constitute an Eligible
Receivable, such Receivable may nonetheless constitute an Eligible Receivable if and so long as (A) by its terms such Receivable is due and payable within 60 days of the original billing date therefor and has not had its payment terms extended,
and (B) the aggregate Outstanding Balance of such Receivable and all other Receivables that shall constitute Eligible Receivables by reason of this proviso does not at any time exceed 6% of the Outstanding Balance of all Receivables,

 (d) The definition of “Loss Horizon Ratio” set forth in Exhibit I to the Receivables Purchase
Agreement is hereby amended and restated in its entirety as follows: 
 “Loss Horizon Ratio” means, as of
the last day of any Reporting Period, a ratio 
 (i) the numerator of which is an amount equal to the sum of
(A) the aggregate gross sales of the Originators during the two Reporting Periods ending on such date and (B) an amount equal to three-quarters of the aggregate gross sales of the Originators during the Reporting Period that ended
immediately prior to the period described in clause (A), and 
 (ii) the denominator of which is the Net Eligible
Outstanding Balance as of such last day. 
 SECTION 2. Representations and Warranties. 
 (a) JWPR represents and warrants that this Amendment constitutes its legal, valid and binding obligation, enforceable against it in
accordance with its terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws relating to or limiting creditors’ rights generally and by general principles of equity (regardless
of whether enforcement is sought in a proceeding in equity or at law). 
 (b) JWPR represents and warrants that on the date
hereof, before and after giving effect to this Amendment, (i) no Amortization Event or Potential Amortization Event has occurred and is continuing, (ii) the Purchaser Interests of the Purchasers do not exceed the Maximum Purchaser
Percentage and (iii) each of the representations and warranties of JWPR set forth in the Receivables Purchase Agreement is true and correct in all material respects. 
  

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 SECTION 3. Conditions Precedent. This Amendment shall become effective on and as of the date
hereof (the “Effective Date”) upon receipt by the Agent of duly executed counterpart signature pages to this Amendment from each party hereto. 
 SECTION 4. Reference to and Effect on the Transaction Documents. 
 (a) Upon the
effectiveness of this Amendment, (i) each reference in the Receivables Purchase Agreement to “this Receivables Purchase Agreement”, “this Agreement”, “hereunder”, “hereof”, “herein” or words of
like import shall mean and be a reference to the Receivables Purchase Agreement, as amended or otherwise modified hereby, and (ii) each reference to the Receivables Purchase Agreement in any other Transaction Document or any other document,
instrument or agreement executed and/or delivered in connection therewith, shall mean and be a reference to the Receivables Purchase Agreement as amended or otherwise modified hereby. 
 (b) Except as specifically amended or modified above, the terms and conditions of the Receivables Purchase Agreement, all other
Transaction Documents and any other documents, instruments and agreements executed and/or delivered in connection therewith, shall remain in full force and effect and are hereby ratified and confirmed. 
 (c) The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Agent
or any Purchaser under the Receivables Purchase Agreement or any other Transaction Document or any other document, instrument or agreement executed in connection therewith, nor constitute a waiver of any provision contained therein, in each case
except as specifically set forth herein. 
 SECTION 5. Reaffirmation of Performance Undertaking. JohnsonDiversey, Inc.
(i) reaffirms all of its obligations under the Performance Undertakings, (ii) acknowledges that the Agent, as a party to the Receivables Purchase Agreement, enjoys the benefits of each Performance Undertaking, and (iii) acknowledges
and agrees that each Performance Undertaking remains in full force and effect (including, without limitation, after giving effect to this Amendment). 
 SECTION 6. 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 and delivered shall be
deemed to be an original and all of which taken together shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by telecopier shall be effective as delivery of a manually executed
counterpart of this Amendment. 
 SECTION 7. Governing Law. This Amendment shall be governed by and construed in accordance with the
laws of the State of Illinois. 
 SECTION 8. Headings. Section headings in this Amendment are included herein for convenience of
reference only and shall not constitute a part of this Amendment for any other purpose. 
  

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 SECTION 9. Fees and Expenses. JWPR, as Seller, hereby confirms its agreement to pay on demand all
reasonable costs and expenses of the Agent or the Purchasers in connection with the preparation, execution and delivery of this Amendment and any of the other instruments, documents and agreements to be executed and/or delivered in connection
herewith, including, without limitation, the reasonable fees and out-of-pocket expenses of counsel to the Agent or the Purchasers with respect thereto. 
 [signature page follows] 
  

 4 

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

			
	JWPR CORPORATION
		
	By:	 	 /s/ Tony A. Sebranek

	Name:	 	Tony A. Sebranek
	Title:	 	Vice President
	
	 LIBERTY STREET FUNDING CORP., as a
 Conduit

		
	By:	 	 /s/ Bernard J. Angelo

	Name:	 	
	Title:	 	
	
	 THE BANK OF NOVA SCOTIA, as a Financial
 Institution and Managing Agent

		
	By:	 	 /s/ J. Alan Edwards

	Name:	 	J. Alan Edwards
	Title:	 	Managing Director

  

			
	ACKNOWLEDGED AND AGREED:
	
	JOHNSONDIVERSEY, INC.
		
	By:	 	 /s/ Lori P. Marin

	Name:	 	Lori P. Marin
	Title:	 	Vice President & Corporate Treasurer

 Signature Page to Amendment No. 3

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