Document:

Exhibit

Exhibit 10.12.8

INCREMENTAL FACILITY AGREEMENT 
UMPQUA BANK

January 22, 2018
Encore Capital Group, Inc.  
3111 Camino Del Rio North
Suite 103
San Diego, California  92108
Attention:  Chief Financial Officer    
Re:    Incremental Facility Agreement 
Ladies and Gentlemen:
Reference is hereby made to that certain Third Amended and Restated Credit Agreement, dated as of December 20, 2016 (as amended by that certain Incremental Term Loan and Extension Agreement, dated as of March 2, 2017,  that certain Incremental Facility Agreement, dated as of March 29, 2017, that certain Amendment No. 1 to Third Amended and Restated Credit Agreement, dated as of June 13, 2017, that certain Amendment No. 2 to Third Amended and Restated Credit Agreement, dated as of June 29, 2017, that certain Incremental Facility Agreement, dated as of August 15, 2017, that certain Incremental Facility Agreement dated as of September 26, 2017, and as may be further amended, restated, modified, supplemented, extended or replaced from time to time, the “Credit Agreement”), by and among Encore Capital Group, Inc. (“Borrower”), the several banks and other financial institutions and lenders from time to time party thereto (the “Lenders”), SunTrust Bank, as administrative agent (in such capacity, the “Administrative Agent”) and collateral agent, issuing bank and swingline lender.  Unless otherwise defined herein, capitalized terms used herein shall have the respective meanings set forth in the Credit Agreement.  This Incremental Facility Agreement (this “Agreement”) (i) is an “Incremental Facility Amendment” (as defined in the Credit Agreement) and the Credit Agreement is hereby amended in accordance with the terms and conditions herein and (ii) shall be deemed to be a “Loan Document” under the Credit Agreement.  
At the request of the Borrower, Umpqua Bank (the “Incremental Lender”) hereby agrees to make an Incremental Term Loan to the Borrower in the amount of $10,000,000 (the “Incremental Term Loan”) on the Agreement Effective Date (as defined below).  The Incremental Term Loan provided pursuant to this Agreement shall be subject to all of the terms and conditions set forth in the Credit Agreement, including without limitation, Section 2.5 thereof.
The Incremental Lender, the Borrower and the Administrative Agent each acknowledges and agrees that the Incremental Term Loan provided pursuant to this Agreement shall constitute a “Term Loan” for all purposes of the Credit Agreement and the other applicable Loan Documents.  Furthermore, each of the parties to this Agreement hereby agrees that (i) the Incremental Term Loan shall be subject to the terms set forth on Annex I hereto, (ii) except as otherwise expressly set forth herein, the Incremental Term Loan shall be on the same terms and conditions as the Term Loan A-3 under the Credit Agreement and (iii) the Incremental Term Loan shall constitute a “Term Loan A-3” for all purposes of the Credit Agreement and the other applicable Loan Documents.

The Incremental Lender hereby (i) confirms that it has received a copy of the Credit Agreement and the other Loan Documents, together with copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Agreement, (ii) agrees that it will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement and the other Loan Documents, (iii) irrevocably authorizes the Administrative Agent to take such action on its behalf under this Agreement, the other Loan Documents and any other instruments and agreements referred to herein or therein and to exercise such powers and to perform such duties as are specifically delegated to or required of the Administrative Agent by the terms thereof and such other powers as are reasonably incidental thereto and (iv) agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Credit Agreement and the other Loan Documents are required to be performed by it as a Lender.
In order to effect the Incremental Term Loan as contemplated hereby, each party hereto acting pursuant to Section 2.24(d) of the Credit Agreement hereby agrees that the Credit Agreement is hereby amended by amending and restating Section 2.9(g) in its entirety to read as follows:
  “(g)    The Borrower unconditionally promises to pay to the Administrative Agent for the account of the Lenders holding the Term Loan A-3, (i) on each of March 31, 2017 and June 30, 2017, $1,219,757.36, (ii) on each of September 30, 2017 and December 31, 2017, $2,157,257.36, and (iii) on the last Business Day of each of March, June, September and December commencing on March 30, 2018, a principal amount equal to $182,580,588.57 multiplied by (A) 1.25%, for the first four (4) such quarterly installments, (B) 1.875%, for the next eight (8) quarterly installments thereafter and (C) 2.5%, for the next four (4) quarterly installments thereafter; provided, that, to the extent not previously paid, the aggregate unpaid principal balance of the Term Loan A-3 shall be due and payable on the Term Loan A-3 Maturity Date.  Payments under this clause (g) shall be made to each Lender holding a Term Loan A-3 based on such Lender’s Pro Rata Share thereof and all such payments shall be adjusted from time to time to account for optional and mandatory prepayments made hereunder.”
Upon the date of (i) the execution of a counterpart of this Agreement by the Incremental Lender, the Administrative Agent, the Borrower and each Guarantor, (ii) the delivery to the Administrative Agent of a fully executed counterpart (including by way of facsimile or other form of electronic transmission permitted under the Credit Agreement) hereof, (iii) the payment of any fees as agreed between Borrower and SunTrust Robinson Humphrey, Inc. (“STRH”) set forth in paragraph C(b)(i) of that certain Engagement Letter, dated November 14, 2016 by and between Borrower and STRH, and (iv) the satisfaction (or waiver in writing) of any other conditions precedent set forth in Section 5 of Annex I hereto (such date, the “Agreement Effective Date”) the Incremental Lender shall fund the Incremental Term Loan on the terms, and subject to the conditions, set forth in the Credit Agreement and in this Agreement. As of the Agreement Effective Date, and after giving effect to the transactions contemplated by this Agreement, the aggregate outstanding principal amount of the Term Loans held by each of the Lenders are set forth on Annex II.

2

Each of the Borrower and each Guarantor acknowledges and agrees that (i) it shall be liable for all Obligations with respect to the Incremental Facility (as defined in the Credit Agreement) created hereunder and (ii) all such Obligations (including the Incremental Term Loan) shall constitute (and be included in the definition of) “Secured Obligations” under the Credit Agreement and be entitled to the benefits of the respective Collateral Documents and the Guaranty Agreement as, and to the extent, provided in the Credit Agreement and in such other Loan Documents. 
The Borrower may accept this Agreement by signing the enclosed copies in the space provided below, and returning one copy of same to the Incremental Lender and one copy to the Administrative Agent before the close of business on January 22, 2018.  If the Borrower does not so accept this Agreement by such time, the obligations of the Incremental Lender to provide the Incremental Term Loan as set forth in this Agreement shall be deemed canceled and of no force or effect.
After the execution and delivery to the Administrative Agent of a fully executed copy of this Agreement (including by way of counterparts and by facsimile transmission) by the parties hereto, this Agreement may only be changed, modified or varied by written instrument in accordance with the requirements for the modification of Loan Documents pursuant to Section 10.2 of the Credit Agreement.
THIS AGREEMENT AND THE OBLIGATIONS HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES (BUT, IN ANY EVENT, GIVING EFFECT TO SECTIONS 5-1401 AND 5‐1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW).
[Signature Pages Follow]

3

Very truly yours,
UMPQUA BANK
By:  /s/ Bob Jondall                
Name:  Bob Jondall
Title:  SVP 

Signature Page to  
Incremental Facility Agreement (January 2018) 

Agreed and Accepted as of the date first written above:

SUNTRUST BANK, as Administrative Agent, 
  Issuing Bank and Swingline Lender
By:  /s/ Paula Mueller                
Name:  Paula Mueller  
Title:    Director

Signature Page to  
Incremental Facility Agreement (January 2018) 

Agreed and Accepted as of the date first written above:
ENCORE CAPITAL GROUP, INC.
By:  /s/ Jonathan Clark    
Name:  Jonathan Clark
Title:  Chief Financial Officer

Signature Page to  
Incremental Facility Agreement (January 2018) 

Each Guarantor acknowledges and agrees to each the foregoing provisions of this Incremental Facility Agreement and to the establishment of the Incremental Term Loan and the Obligations incurred related thereto.

MIDLAND CREDIT MANAGEMENT, INC.
MIDLAND FUNDING LLC
MIDLAND PORTFOLIO SERVICES, INC.
MIDLAND FUNDING NCC-2 CORPORATION
MIDLAND INTERNATIONAL LLC
MRC RECEIVABLES CORPORATION
ASSET ACCEPTANCE CAPITAL CORP.
ASSET ACCEPTANCE, LLC
ATLANTIC CREDIT & FINANCE, INC.

By:  /s/ Jonathan Clark                
Name:  Jonathan Clark
Title:  Treasurer

MIDLAND INDIA LLC

By:  /s/ Ashish Masih                  
Name:  Ashish Masih
Title:  President

ATLANTIC CREDIT & FINANCE SPECIAL FINANCE UNIT, LLC
ATLANTIC CREDIT & FINANCE SPECIAL FINANCE UNIT III, LLC

By:  /s/ Greg Call                     
Name:  Greg Call
Title:    Secretary  

Signature Page to  
Incremental Facility Agreement (January 2018) 

ANNEX I
TERMS AND CONDITIONS FOR  
INCREMENTAL FACILITY AGREEMENT
1.  Name of Borrower: Encore Capital Group, Inc., a Delaware corporation.
2. Date upon which the Incremental Term Loan is to be made:    January 22, 2018.
3.  Maturity Date upon which the Incremental Term Loan matures: the Term Loan A-3 Maturity Date.
4.  Applicable Margin: Identical to the “Applicable Margin” as defined in the Credit Agreement.
5.  Other Conditions Precedent:
(a)    No Default or Event of Default has occurred and is continuing or will result from the incurrence by the Borrower of the Incremental Term Loan provided by the Incremental Lender as of the date hereof as contemplated by the Incremental Facility Agreement; 
(b)    the Borrower and its Restricted Subsidiaries are in pro forma compliance with each of the covenants set forth in Article VI of the Credit Agreement as of the last date of the most recently ended Fiscal Quarter after giving effect to the Incremental Term Loan provided by the Incremental Lender under the Incremental Facility Agreement on the date hereof; and 
(c)     each of the conditions in Section 3.2 of the Credit Agreement have been satisfied.

Annex I

ANNEX II

TERM LOAN AMOUNTS, ADDITIONAL TERM LOAN A-3 COMMITMENT AMOUNTS AND INCREMENTAL OR EXTENDED TERM LOAN A-3 AMOUNTS OF INCREASING LENDERS, EXTENDING LENDERS AND NON-EXTENDING LENDERS

Extending Lenders (including any Incremental Lender joining after the Closing Date):

	
													
	Lender
	Aggregate Amount of Term Loan A-2 of Existing Lender Converted to Term Loan A-3 on the Closing Date
	Additional Term Loan A-3 Commitment of Increasing Lenders as of the Closing Date
	Incremental or Extended Term Loan A-3 made or Extended after the Closing Date
	Total Term Loan A-3 as of the Agreement Effective Date(1)

	SunTrust Bank
	

	$12,690,361.06
	

	

	$2,331,019.21
	

	 
	

	$14,274,449.75
	

	Bank of America
	13,469,866.33
	

	1,551,513.94
	

	 
	14,274,449.75
	

	ING Capital
	7,533,482.17
	

	142,787.76
	

	 
	7,294,571.31
	

	MUFG Union Bank, NA
	2,260,044.66
	

	2,337,004.18
	

	 
	4,368,462.92
	

	Citibank, NA
	5,273,437.52
	

	 
	 
	5,011,218.50
	

	California Bank and Trust
	6,428,571.75
	

	 
	 
	6,108,914.27
	

	Flagstar Bank
	 
	25,000,000.00
	

	 
	23,756,887.66
	

	Bank Leumi USA
	3,570,870.47
	

	661,272.39
	

	 
	4,021,701.68
	

	Northwest Bank
	4,656,250.00
	

	343,750.00
	

	 
	4,751,377.54
	

	Umpqua Bank
	 
	 
	12,578,124.98
	

	12,449,929.02
	

	Cathay Bank
	 
	 
	1,752,232.15
	

	1,665,103.29
	

	Woodforest National Bank
	 
	 
	5,000,000.00
	

	4,751,377.54
	

	DNB Capital, LLC
	 
	 
	25,000,000.00
	

	24,366,038.64
	

	Regions Bank
	 
	 
	50,000,000.00
	

	48,732,077.26
	

	Total
	

	$55,882,883.96
	

	

	$32,367,347.48
	

	

	$94,330,357.13
	

	$
	175,826,559.13
	

Non-Extending Lenders:  

	
				
	Lender
	Term Loan A-2 as of the Agreement Effective Date(1)

	Fifth Third Bank
	

	$6,474,111.88
	

	Raymond James Bank, N.A.
	6,796,875.01
	

	Chang Hwa
	1,294,642.88
	

	Israel Discount Bank
	 

	Amalgamated Bank
	 

	Manufacturers Bank
	1,294,642.86
	

	Total
	$
	15,860,272.63
	

(1) Amounts reflect reductions to the outstanding Term Loan principal resulting from amortization prior to the Agreement Effective Date.

Annex IIpch-ex101_11.htm

EXECUTION VERSION

ASSUMPTION AGREEMENT

This ASSUMPTION AGREEMENT (this “Agreement”) is entered into as of February [16], 2018, among Potlatch Corporation, a Delaware corporation and a REIT (“Potlatch”), Potlatch Forest Holdings, Inc., a Delaware corporation (“Potlatch Forest”), and Potlatch Land & Lumber, LLC (“Potlatch Land & Lumber”) (collectively, the “Successor Borrowers” and each individually, a “Successor Borrower”),  Deltic Timber Corporation, a Delaware corporation (the “Initial Borrower” and together with the Successor Borrowers, the “Parties”), the Lenders and Voting Participants identified on the signature pages hereto and American AgCredit, PCA, as Administrative Agent (the “Administrative Agent”).  Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Credit Agreement (as defined below).

RECITALS

WHEREAS, Initial Borrower, the Lenders from time to time party thereto and the Administrative Agent are parties to that certain Term Loan Credit Agreement dated as of August 27, 2015 (as amended, restated, supplemented, waived and modified from time to time, including pursuant to this Agreement, the “Credit Agreement”);

WHEREAS, Portland Merger, LLC, a Delaware limited liability company (“Merger Sub”) is a wholly owned subsidiary of Potlatch; 

WHEREAS, Initial Borrower is merging with and into Merger Sub as of the date hereof (the “Merger”), pursuant to the Agreement and Plan of Merger (the “Merger Agreement”) dated as of October 22, 2017, with Merger Sub continuing as the surviving corporation in the Merger and a wholly owned subsidiary of Potlatch;

WHEREAS, Initial Borrower has agreed to assign to the Successor Borrowers all of its rights, interests, duties, obligations and liabilities in, to and under the Credit Agreement and the other Loan Documents;

WHEREAS, the Successor Borrowers, on a joint and several basis, desire to accept the assignment of (and, in the case of duties, obligations and liabilities, assume) all of Initial Borrower’s rights, interests, duties, obligations and liabilities in, to and under the Credit Agreement and the other Loan Documents (the “Assignment and Assumption”); 

WHEREAS, Initial Borrower has requested that the Administrative Agent, Lenders and Voting Participants release Initial Borrower and the Subsidiary Loan Parties from all of its obligations under the Credit Agreement and the other Loan Documents (the “Release”);

WHEREAS, in accordance with Section 10.2(b) of the Credit Agreement, the Administrative Agent, each of the Lenders and each of the Voting Participants are willing to agree to the Assignment and Assumption and the Release subject to the terms and conditions as more fully set forth below.

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

 

 

 

 

AGREEMENT

1.Assignment and Assumption; Release.  

(a)Effective as of the date hereof and concurrently with the Merger, Initial Borrower hereby absolutely assigns, transfers and conveys to the Successor Borrowers all of its rights, interests, duties, obligations and liabilities in, to and under the Credit Agreement.

(b)Effective as of the date hereof and concurrently with the Merger, each of the Successor Borrowers hereby irrevocably and unconditionally accepts, on a joint and several basis, the assignment set forth in Section 1(a) of this Agreement and assumes all of the duties, obligations and liabilities of Initial Borrower in, to and under the Credit Agreement to the same extent as if each of the Successor Borrowers had executed the Credit Agreement and the other Loan Documents.  Without limiting the generality of the foregoing terms of this Section 1(b), each of the Successor Borrowers hereby (i) acknowledges, agrees and confirms that (A) by its execution of this Agreement, each of the  Successor Borrowers shall be deemed to be a party to the Credit Agreement and the other Loan Documents and, collectively, the “Borrower” for all purposes of the Credit Agreement and the other Loan Documents, and (B) each of the Successor Borrowers, collectively, on a joint and several basis shall have all of the obligations of the Borrower thereunder as if each of the Successor Borrowers had executed the Credit Agreement and the other Loan Documents, (ii) certifies that the representations and warranties of Initial Borrower set forth in Article IV of the Credit Agreement and in any other Loan Documents are true and correct in all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties are true and correct in all respects) with respect to such Successor Borrower on and as of the date hereof, (iii) agrees to be bound by the affirmative covenants, negative covenants and financial covenants set forth in Sections 5, 6 and 7 of the Credit Agreement and in any other Loan Document and (iv) jointly and severally hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with the other Successor Borrowers with respect to the payment and performance of all of the Obligations arising under the Credit Agreement and the other Loan Documents, it being the intention of the parties hereto that all the Obligations shall be the joint and several obligations of each of the Successor Borrowers without preferences or distinction among them.

(c)The Administrative Agent, each of the Lenders, and each of the Voting Participants hereby confirms that, effective upon satisfaction of the conditions precedent set forth in Section 4 of this Agreement, each of Initial Borrower and the Subsidiary Loan Parties is released and forever discharged from any duties, obligations and liabilities as a Loan Party under the Credit Agreement and the other Loan Documents.  The release contained herein is intended to be final and binding upon the Parties, the Administrative Agent, the Lenders, and their respective heirs, successors and assigns.  Each of the Parties and the Administrative Agent agree to cooperate in good faith and to execute such further documents as may be necessary to effect the provisions of this Agreement.

2.Amendment of Credit Agreement.  Each of the Successor Borrowers hereby covenants and agrees that, within thirty (30) days after the date hereof, it shall arrange for an amendment and restatement of the Credit Agreement and the other Loan Documents (which may be in the form of an amendment adding the Term Loans as a new tranche of term loans under the Successor Borrowers’ existing Amended and Restated Term Loan Agreement dated as of December 5, 2014 (as amended and restated, the “Existing Potlatch Agreement”)) such that (a) the representations and warranties, affirmative covenants, negative covenants and financial covenants applicable to the Term Loan are substantially identical to those under 

2

 

the Existing Potlatch Agreement at such time (as amended to conform to the Successor Borrowers’ other syndicated credit agreement documentation) and (b) Portland Merger, LLC is added as a Guarantor with respect to the Existing Potlatch Agreement.  

3.Representations of the Parties.  Each Party represents and warrants that:  (i) such Party is a limited partnership, corporation or limited liability company, as applicable, duly formed and validly existing under the laws of jurisdiction of formation, and is in good standing under the laws of its jurisdiction of formation; (ii) the execution, delivery and performance by such Party of this Agreement have been duly authorized by all necessary limited partnership, corporation or limited liability company, as applicable, action, and do not contravene the terms of the organizational documents of such Party, conflict with or result in any breach or contravention of any agreement, undertaking, contract, indenture, mortgage, deed of trust or other instrument to which such Party is a party, or any applicable law; (iii) this Agreement is a legal, valid, and binding obligation of such Party, enforceable against it in accordance with its terms; and (iv) no consents, approvals, authorizations, registrations and filings or orders are required or advisable to be made or obtained under any Requirement of Law, or by any contractual obligation of any Party, in connection with the execution, delivery, performance, validity and enforceability of such Party of this Agreement.  

Initial Borrower hereby further represents and warrants that (x) the representations and warranties of Initial Borrower set forth in the Credit Agreement and the other Loan Documents are true and correct in all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties are true and correct in all respects), (y) no Default or Event of Default exists under the Credit Agreement on and as of the date hereof, before and after giving effect to this Agreement and (z) since the most recent audited consolidated financial statements of the Initial Borrower and its Subsidiaries delivered pursuant to Section 5.1(a) of the Credit Agreement, there has been no change which has had or could reasonably be expected to have a Material Adverse Effect.

4.Effectiveness of Agreement.  This Agreement shall become effective concurrently with the Merger as of the date hereof (the “Effective Date”) upon receipt by the Administrative Agent of the following:

(a)copies of this Agreement duly executed by the Successor Borrowers, Initial Borrower, each Lender, each Voting Participant and the Administrative Agent.

(b)(i) certified copies of the articles or certificate of incorporation, certificate of organization or limited partnership, or other registered organizational documents of each Successor Borrower, together with certificates of good standing or existence, as may be available from the Secretary of State of the jurisdiction of organization of such Successor Borrower and each other jurisdiction where such Successor Borrower is required to be qualified to do business as a foreign entity; (ii) a certificate of the Secretary or Assistant Secretary of each Successor Borrower, substantially in the form of Exhibit 3.1(b)(v) to the Credit Agreement, attaching and certifying copies of its bylaws and of the resolutions of its board of directors, or partnership agreement or limited liability company agreement, or comparable organizational documents and authorizations, authorizing the execution, delivery and performance of this Agreement and certifying the name, title and true signature of each officer of such Successor Borrower executing this Agreement and (iii) such other documents, certificates or information as the Administrative Agent or the Required Lenders may reasonably request, all in form and substance reasonably satisfactory to the Administrative Agent or the Required Lenders.

3

 

(c)a favorable written opinion of counsel to the Successor Borrowers (which may be in-house counsel), dated the Effective Date and addressed to the Administrative Agent, and covering such matters relating to the Successor Borrowers, this Agreement and the transactions contemplated herein as the Administrative Agent shall reasonably request.

(d)a certificate from each of the Successor Borrowers, dated the Effective Date and signed by a Responsible Officer, confirming that (i) immediately after giving effect to this Agreement, no Default or Event of Default exists and (ii) the representations and warranties of the Initial Borrower set forth in Article IV of the Credit Agreement and any other Loan Document are true and correct in all material respects with respect to such Successor Borrower (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties are be true and correct in all respects) on and as of the Effective Date, before and after giving effect to this Agreement and (iii) since the date of the most recent financial statements required to be delivered pursuant to Section 6.01(a) of the Credit Agreement or (b) of the Existing Potlatch Agreement, there has been no change with respect to such Successor Borrower which has had or could reasonably be expected to have a Material Adverse Effect.

5.Expenses.  The Successor Borrowers agree to reimburse the Administrative Agent for the reasonable and documented out-of-pocket expenses incurred by it in connection with this Agreement, including the reasonable and documented fees, charges and disbursements of Moore & Van Allen PLLC, counsel for the Administrative Agent.

6.Counterparts/Telecopy. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument.  Delivery of executed counterparts of this Agreement by telecopy or .pdf shall be effective as an original.  

7.Entire Agreement.  This Agreement and the exhibits hereto represent the entire agreement among the parties hereto regarding the subject matters hereof and thereof and supersede all prior agreements and understandings, oral or written, regarding such subject matters.  No claim of waiver, modification, consent, or acquiescence with respect to any provision of this Agreement shall be made against any party hereto, except on the basis of a written instrument executed by or on behalf of such party.

8.Further Assurances.  Subject to the other terms of this Agreement, the Parties agree to execute and deliver such other instruments and perform such acts, in addition to the matters herein specified, as may be reasonably appropriate or necessary, from time to time, to effectuate the transactions contemplated hereby.

9.GOVERNING LAW. THIS AGREEMENT 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.

10.Successors and Assigns.  This provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 

[remainder of page intentionally left blank]

4

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date first above written.  

	
INITIAL BORROWER:
	
DELTIC TIMBER CORPORATION,

	

	
a Delaware corporation

	

	
By:       __/s/______________________________

	

	
Name:  Byrom Walker

	

	
Title:    Interim VP and CFO

 

 

 

ASSUMPTION AGREEMENT

DELTIC TIMBER CORPORATION

FEBRUARY 2018

 

	
SUCCESSOR BORROWERS:
	
POTLATCH CORPORATION,

a Delaware corporation

 

 

By:__/s/______________________________

	

	
Name:  Jerald W. Richards

	

	
Title:    Vice President and CFO

	

	
POTLATCH FOREST HOLDINGS, INC.,

a Delaware corporation

 

 

By:__/s/______________________________

Name:Jerald W. Richards

Title:Vice President and CFO

 

POTLATCH LAND & LUMBER, LLC,

a Delaware limited liability company

 

 

By:__/s/_____________________________

Name:Jerald W. Richards

Title:Vice President and CFO

 

 

 

ASSUMPTION AGREEMENT

DELTIC TIMBER CORPORATION

FEBRUARY 2018

 

ADMINISTRATIVE AGENT,

LENDERS AND VOTING 

	
PARTICIPANTS:
	
AMERICAN AGCREDIT, PCA,

as Administrative Agent and as a Lender 

By: /s/

Name:  Janice T. Thede

Title:        Vice President

ASSUMPTION AGREEMENT

DELTIC TIMBER CORPORATION

FEBRUARY 2018

 

	

	
cobank, Fcb, 

as a Voting Participant

By: /s/

Name:  Sara Reid

Title:    Vice President

ASSUMPTION AGREEMENT

DELTIC TIMBER CORPORATION

FEBRUARY 2018

 

AGRIBANK, FCB,

as a Voting Participant

 

By: /s/

Name:  Jerry M. Lehnertz

Title:   Supervisor of Credit

ASSUMPTION AGREEMENT

DELTIC TIMBER CORPORATION

FEBRUARY 2018

 

NORTHWEST FARM CREDIT SERVICES, FLCA,

as a Voting Participant

 

By: /s/

Name:  Chris Eckman

Title:   Vice President

ASSUMPTION AGREEMENT

DELTIC TIMBER CORPORATION

FEBRUARY 2018

 

FARM CREDIT OF WESTERN ARKANSAS, FLCA, as a Voting Participant

 

 

By: /s/

Name:  Charlie McConnell

Title:  Supervisor of Credit

ASSUMPTION AGREEMENT

DELTIC TIMBER CORPORATION

FEBRUARY 2018

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}]]