Document:

ex10-49.htm

EXHIBIT 10.49

AMENDMENT NO. 1 TO LOAN, GUARANTY AND SECURITY AGREEMENT

 

This Amendment No. 1 Loan, Guaranty and Security  Agreement (this “Amendment”), dated as of April 6, 2010, is made by SANMINA-SCI CORPORATION, a Delaware corporation (“Sanmina”), HADCO CORPORATION, a Massachusetts corporation (“Hadco”), HADCO SANTA CLARA, INC., a Delaware corporation (“Hadco Santa Clara”), SANMINA-SCI SYSTEMS HOLDINGS, INC., a Delaware corporation (“SSCI Holdings”), SCI TECHNOLOGY, INC., an Alabama corporation (“SCI Technology”), SCIMEX, INC., an Alabama corporation (“Scimex”, and together with Sanmina, Hadco, Hadco Santa Clara, SSCI Holdings and SCI Technology, collectively, “Borrowers”), SANMINA-SCI SYSTEMS (CANADA) INC., a Nova Scotia limited company, and SCI BROCKVILLE CORP., a Nova Scotia unlimited company, each as a Designated Canadian Guarantor (as defined in the Loan Agreement referred to below), the financial institutions listed on the signature pages hereof as Lenders, and BANK OF AMERICA, N.A., a national banking association, as agent for the Lenders (“Agent”).

 

RECITALS

 

Reference is hereby made to the Loan, Guaranty and Security Agreement dated as of November 19, 2008 (the “Loan Agreement”) among the Borrowers, the Designated Canadian Guarantors, the Lenders from time to time party thereto and the Agent.

 

The parties hereto agree to amend the Loan Agreement as set forth herein on the terms and conditions set forth herein.

 

AGREEMENT

 

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

	
1.  

	
Definitions.  Unless otherwise expressly defined herein, all capitalized terms used herein and defined in the Loan Agreement shall be used herein as so defined.  Unless otherwise expressly stated herein, all Section references herein shall refer to Sections of the Loan Agreement.

 

	
2.  

	
Amendments to Loan Agreement.

 

	
(a)  

	
ThThe definition of “Lender Counterparty” in Section 1.1 is amended by deleting such definition in its entirety.

(a) 

	
(b)  

	
The definition of “Letter of Credit” in Section 1.1 is amended by replacing the word “existing” with the word “Existing” in the final line thereof.

 

	
(c)  

	
Section 10.2.4(b) is amended by inserting the word “not” between the words “amount in” in the penultimate line thereof.

 

	
(d)  

	
Section 15.1.1(c) is amended by (1) deleting the word “or” in the second line thereof and (2) inserting the words “; or (iii) extend the Revolver Termination Date” after the word “Lender” in the third line thereof.

 

	
(e)  

	
Section 15.1.1(d)(i) is amended by replacing the words “extend the Revolver Termination Date” with the word “[Reserved]”.

 

	
3.  

	
Conditions Precedent.  This Amendment shall become effective as of the date first above written (the “Amendment No. 1 Effective Date”) if on or before April 6, 2010, (a) the Agent shall have received counterparts of this Amendment executed by the Obligors and the Lenders (or, as to any of the Lenders, advice satisfactory to the Agent that such Lender has executed this Amendment); and (b) all fees and expenses due and payable under the Loan Agreement shall have been paid.

 

	
4.  

	
Representations and Warranties.  The Borrower hereby represents and warrants to the Agent and the Lenders that, as of the Amendment No. 1 Effective Date and after giving effect to this Amendment, (a) all representations and warranties set forth in the Loan Documents are true and correct in all material respects as if made again on and as of the Amendment No. 1 Effective Date (except for those which by their terms specifically refer to an earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such earlier date), (b) no Default or Event of Default has occurred and is continuing and (c) the Loan Agreement (as amended by this Amendment) and all other Loan Documents are and remain legal, valid, binding and enforceable obligations of the Obligors in accordance with the terms thereof except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles (regardless of whether enforcement is sought in equity or at law).

 

	
5.  

	
Reference to Agreement.  Each of the Loan Documents, including the Loan Agreement, and any and all other agreements, documents or instruments now or hereafter executed and/or delivered pursuant to the terms hereof or pursuant to the terms of the Loan Agreement as amended hereby, are hereby amended so that any reference in such Loan Documents to the Loan Agreement, whether direct or indirect, shall mean a reference to the Loan Agreement as amended hereby.  This Amendment shall constitute a Loan Document.

 

	
6.  

	
Costs and Expenses.  The Company shall pay on demand all reasonable costs and expenses of the Agent and the Lenders (including the reasonable fees, costs and expenses of counsel to the Agent and the Lenders) incurred in connection with the preparation, execution and delivery of this Amendment.

 

	
7.  

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

 

	
8.  

	
Execution.  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 one and the same agreement.  Delivery of an executed counterpart of a signature page to this Amendment by facsimile shall be effective as delivery of a manually executed counterpart of this Amendment.

 

[The remainder of this page is intentionally left blank.]

 

  

  

  

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

 

	
BORROWERS:

	  
	
SANMINA-SCI CORPORATION

	
By:

	
/s/ Robert K. Eulau

	
Name:

	
Robert K. Eulau

	
Title:

	
Executive Vice President and Chief Financial Officer

	
HADCO CORPORATION

	
HADCO SANTA CLARA, INC.

	
SANMINA-SCI HOLDINGS, INC.

	
SCI TECHNOLOGY, INC.

	
SCIMEX, INC.

	  
	
By:

	
/s/ Robert K. Eulau

	
Name:

	
Robert K. Eulau

	
Title:

	
Executive Vice President and Chief Financial Officer

  

  

  

	
GUARANTORS:

	  
	
SCI BROCKVILLE CORP.

	
By:

	
/s/ Shelly L. Byers

	
Name:

	
Shelly L. Byers

	
Title:

	
Secretary

	
SANMINA-SCI SYSTEMS (CANADA) INC.

	
By:

	
/s/ Robert K. Eulau

	
Name:

	
Robert K. Eulau

	
Title:

	
Executive Vice President and Chief Financial Officer

  

  

  

	
AGENT AND LENDERS:

	  
	
BANK OF AMERICA, N.A.,

	
as Agent and Lender

	  
	
By:

	
/s/ Stephen King

	
Name:

	
Stephen King

	
Title:

	
Senior Vice President

 

  

  

  

	
DEUTSCHE BANK TRUST COMPANY AMERICAS,

	
as Lender

	  
	
By:

	
/s/ Paul O’Leary

	
Name:

	
Paul O’Leary

	
Title:

	
Director

	  	  
	
By:

	
/s/ Evelyn Thierry

	
Name:

	
Evelyn Thierry

	
Title:

	
Director

 

  

  

  

	
SIEMENS FINANCIAL SERVICES, INC.,

	
as Lender

	  
	
By:

	
/s/ Anthony Casciano

	
Name:

	
Anthony Casciano

	
Title:

	
Managing Director

	  	  
	
By:

	
/s/ Uri Sky

	
Name:

	
Uri Sky

	
Title:

	
Vice President

  

  

  

	
MERRILL LYNCH COMMERCIAL FINANCE CORP,

	
as Lender

	  
	
By:

	
/s/ Stephen King

	
Name:

	
Stephen King

	
Title:

	
Senior Vice Presidentex10-50.htm

EXHIBIT 10.50

INCREMENTAL LOAN AGREEMENT JOINDER

 

Dated as of April 6, 2010

 

INCREMENTAL LOAN AGREEMENT JOINDER (this “Joinder”) among SANMINA-SCI CORPORATION, a Delaware corporation (the “Borrower Agent”), HADCO CORPORATION, a Massachusetts corporation (“Hadco”), HADCO SANTA CLARA, INC., a Delaware corporation (“Hadco Santa Clara”), SANMINA-SCI SYSTEMS HOLDINGS, INC., a Delaware corporation (“SSCI Holdings”), SCI TECHNOLOGY, INC., an Alabama corporation (“SCI Technology”), SCIMEX, INC., an Alabama corporation (“Scimex”, and together with the Borrower Agent, Hadco, Hadco Santa Clara, SSCI Holdings and SCI Technology, collectively, “Borrowers”), SANMINA-SCI SYSTEMS (CANADA) INC., a Nova Scotia limited company, and SCI BROCKVILLE CORP., a Nova Scotia unlimited company, each as a Designated Canadian Guarantor (as defined in the Loan Agreement referred to below), each of the Assuming Lenders (as such term is defined below), and BANK OF AMERICA, N.A., as agent (in such capacity, the “Agent”) for the financial institutions and other lender parties to the Loan Agreement referred to below (collectively, the “Lenders”).

 

PRELIMINARY STATEMENTS:

 

	
  

	
(1)  The Borrowers, the Designated Canadian Guarantors, the Lenders and the Agent have entered into that certain Loan, Guaranty and Security Agreement dated as of November 19, 2008 (such Loan, Guaranty and Security Agreement, as otherwise amended, supplemented or modified prior to the date hereof, the “Loan Agreement”).  Capitalized terms not otherwise defined in this Joinder have the same meanings as specified in the Loan Agreement.

 

	
  

	
(2)  As provided in Section 2.3 of the Loan Agreement, the Borrower Agent, subject to the terms and conditions thereof, may add an Accordion Increase thereto, and all conditions to the Accordion Increase have been satisfied or waived.

 

	
  

	
(3)  Accordingly, an Accordion Increase shall be implemented as follows:

 

SECTION 1.  Accordion Increase Facility.  Pursuant to Section 2.3 of the Loan Agreement and subject to the effectiveness of this Joinder as provided in Section 3 below, each of the lenders listed under the heading “Accordion Increase Lenders” on the signature pages hereof (each, an “Assuming Lender” and together the “Assuming Lenders”) agrees to commit an amount equal to the amount set forth opposite the name of such Assuming Lender listed on Schedule I hereto (the “Accordion Increase Commitment”).

SECTION 2.  Accordion Increase Commitment.  Each of the Assuming Lenders hereby acknowledges that it has made the Accordion Increase Commitment set forth opposite such Assuming Lender’s name on Schedule I to this Joinder.  Each of the Borrowers, the Agent, the Designated Canadian Guarantors and the Assuming Lenders hereby agrees that from and after the Effective Date (as defined below), each of the Assuming Lenders shall be a “Lender” and a “Secured Party” for all purposes under the Loan Documents.

SECTION 3.  Conditions Precedent to Effectiveness.  This Joinder shall become effective if, and only if, on or prior to April 6, 2010: (a) the Agent shall have received counterparts of this Joinder executed by the Borrowers, the Designated Canadian Guarantors and each of the Assuming Lenders; (b) the Borrower shall have paid the fees pursuant to any fee letter dated on or about the Effective Date between an Assuming Lender and the Borrower; (c) the conditions set forth in Section 2.3(d) of the Loan Agreement shall have been satisfied (including, without limitation, delivery of certified copies of resolutions of the Borrower approving the Accordion Increase and delivery of an opinion of counsel in form and substance reasonably satisfactory to Agent) and (d) each of the Assuming Lenders shall have received all documentation and other information required by regulatory authorities under applicable Anti-Terrorism Laws and “know your customer” rules and regulations (with such Assuming Lender’s execution of this Joinder an acknowledgment that it has received all such documentation and information).  The date that each of the conditions in clauses (a) through (d) are satisfied being the “Effective Date”.

 

SECTION 4.  Representations and Warranties.  The Borrower hereby represents and warrants to the Agent, the Assuming Lenders and the Lenders that, as of the Effective Date and after giving effect to this Joinder:

 

	
  

	
(a)  all representations and warranties set forth in the Loan Documents are true and correct in all material respects as if made again on and as of the Effective Date (except for those which by their terms specifically refer to an earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such earlier date) and

 

	
  

	
(b)  no Default or Event of Default has occurred and is continuing.

 

 

SECTION 5.  Reference to and Effect on the Loan Agreement and other Loan Documents.

 

	
  

	
(a)  On and after the effectiveness of this Joinder, each reference in the Loan Agreement to “this Agreement”, “the Loan Agreement”, “hereunder”, “hereof”, “thereunder”, “thereof” or words of like import referring to the Loan Agreement shall mean and be a reference to the Loan Agreement, as amended by this Joinder.

 

	
  

	
(b)  The Loan Agreement, as specifically amended by this Joinder, and each of the other Loan Documents are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.

 

	
  

	
(c)  The execution, delivery and effectiveness of this Joinder shall not operate as a waiver of any right, power or remedy of any Lender or the Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents.

 

SECTION 6.  Execution in Counterparts.  This Joinder 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 Joinder by facsimile or other electronic transmission shall be effective as delivery of a manually executed counterpart of this Joinder.

 

SECTION 7.  Governing Law.  This Joinder shall be governed by, and construed in accordance with, the laws of the State of New York.

 

[SIGNATURE PAGES IMMEDIATELY FOLLOW]

 

  

  

  

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

 

	
BORROWERS:

	  
	
SANMINA-SCI CORPORATION

	
By:

	
/s/ Robert K. Eulau

	
Name:

	
Robert K. Eulau

	
Title:

	
Executive Vice President and Chief Financial Officer

	
HADCO CORPORATION

	
HADCO SANTA CLARA, INC.

	
SANMINA-SCI HOLDINGS, INC.

	
SCI TECHNOLOGY, INC.

	
SCIMEX, INC.

	  
	
By:

	
/s/ Robert K. Eulau

	
Name:

	
Robert K. Eulau

	
Title:

	
Executive Vice President and Chief Financial Officer

	
GUARANTORS:

	  
	
SCI BROCKVILLE CORP.

	
By:

	
/s/ Shelly L. Byers

	
Name:

	
Shelly L. Byers

	
Title:

	
Secretary

	
SANMINA-SCI SYSTEMS (CANADA) INC.

	
By:

	
/s/ Robert K. Eulau

	
Name:

	
Robert K. Eulau

	
Title:

	
Executive Vice President and Chief Financial Officer

  

  

  

	
AGENT:

	  
	
BANK OF AMERICA, N.A.,

	
as Agent

	  
	
By:

	
/s/ Stephen King

	
Name:

	
Stephen King

	
Title:

	
Senior Vice President

  

  

  

	
ACCORDION INCREASE LENDERS:

	  
	
MORGAN STANLEY SENIOR FUNDING, INC.

	  
	
By:

	
/s/ Sherrese Clark

	
Name:

	
Sherrese Clark

	
Title:

	
Vice President

 

 

  

  

  

	
GOLDMAN SACHS LENDING PARTNERS LLC

	  
	
By:

	
/s/ Mark Walton

	
Name:

	
Mark Walton

	
Title:

	
Authorized Signatory

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