Document:

Exhibit 10.55

 

SECOND AMENDMENT TO CREDIT AGREEMENT

 

THIS SECOND
AMENDMENT TO CREDIT AGREEMENT dated as of August 1, 2006 (the “Amendment”)
is entered into among Amphenol Corporation, a Delaware corporation (the “Company”),
the Subsidiary Guarantors, the Lenders and Bank of America, N.A., as
Administrative Agent. All capitalized terms used herein and not otherwise
defined herein shall have the meanings given to such terms in the Credit
Agreement (as defined below).

 

RECITALS

 

WHEREAS,
the Company, certain Subsidiaries of the Company from time to time party
thereto, as designated borrowers (the “Designated Borrowers”), certain
Subsidiaries of the Company from time to time party thereto, as guarantors
(each a “Subsidiary Guarantor”; together with the Company, the “Guarantors”),
the Lenders and the Administrative Agent entered into that certain Credit
Agreement dated as of July 15, 2005 (as amended from time to time, the “Credit Agreement”);
and

 

WHEREAS,
the Company has requested that the Lenders amend the Credit Agreement as set
forth below;

 

NOW,
THEREFORE, in consideration of the premises and the mutual covenants contained
herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

 

1.                                       Amendments.

 

(a)                                  The
following definition is hereby added to Section 1.01 of the Credit
Agreement in the appropriate alphabetical order and shall read as follows:

 

“Second Amendment Closing Date” means August 1,
2006.

 

(b)                                 The
following sentence is hereby added at the end of the definition of “Aggregate
Commitments” in Section 1.01 of the Credit Agreement and shall read as
follows:

 

The aggregate
principal amount of the Aggregate Commitments in effect on the Second Amendment
Closing Date is ONE BILLION DOLLARS ($1,000,000,000).

 

(c)                                  The
pricing grid in the definition of “Applicable Rate” in Section 1.01 of the
Credit Agreement is hereby amended to read as follows:

 

Applicable Rate

 

	
  Pricing

  Level

  	
   

  	
  Debt Rating

  or Consolidated

  Leverage Ratio

  	
   

  	
  Facility Fee

  	
   

  	
  Eurocurrency Rate

  Loans and Letter

  of Credit Fee

  	
   

  	
  Base Rate

  Loans

  	
   

  
	
  1

  	
   

  	
  3
  BBB+ / Baa1 or < 1.0:1.0

  	
   

  	
  0.080

  	
  %

  	
  0.3700

  	
  %

  	
  0.00

  	
  %

  
	
  2

  	
   

  	
  BBB / Baa2 or < 1.5:1.0 but 3
  1.0:1.0

  	
   

  	
  0.100

  	
  %

  	
  0.4000

  	
  %

  	
  0.00

  	
  %

  
	
  3

  	
   

  	
  BBB- / Baa3 or < 2.0:1.0 but 3
  1.5:1.0

  	
   

  	
  0.125

  	
  %

  	
  0.5000

  	
  %

  	
  0.00

  	
  %

  
	
  4

  	
   

  	
  BB+ / Ba1 or < 2.5:1.0 but 3
  2.0:1.0

  	
   

  	
  0.175

  	
  %

  	
  0.575

  	
  %

  	
  0.00

  	
  %

  
	
  5

  	
   

  	
  £
  BB/Ba2 or 3 2.50:1.0

  	
   

  	
  0.225

  	
  %

  	
  0.9000

  	
  %

  	
  0.00

  	
  %

  

 

 

(d)                                 The
definition of “Maturity Date” in Section 1.01 of the Credit Agreement is
hereby amended to read as follows:

 

“Maturity
Date” means August 1, 2011.

 

(e)                                  The
language preceding the proviso in Section 2.02(f) of the Credit
Agreement shall be amended to read as follows:

 

(f)                                    The Company may at any time and from
time to time, upon prior written notice by the Company to the Administrative
Agent, increase the Aggregate Commitments (but not the Letter of Credit
Sublimit and Alternative Currency Sublimit) by up to $250,000,000 in excess of
the Aggregate Commitments in effect on the Second Amendment Closing Date with additional
Commitments from any existing Lender or new Commitments from any other Person
selected by the Company and approved by the Administrative Agent;

 

2.                                       Conditions Precedent. This Amendment shall be effective upon receipt
by the Administrative Agent of the following conditions precedent:

 

(a)                                  receipt by the Administrative Agent of this
Amendment executed by the Company, the Subsidiary Guarantors, the Lenders and the Administrative Agent; and

 

(b)                                 receipt by the Administrative Agent, for the
account of each Lender, of the amendment fee due and owing to such Lender.

 

3.                                       Miscellaneous.

 

(a)                                  The
Credit Agreement, and the obligations of the Loan Parties thereunder and under
the other Loan Documents, are hereby ratified and confirmed and shall remain in
full force and effect according to their terms.

 

(b)                                 Each
Guarantor (a) acknowledges and consents to all of the terms and conditions
of this Amendment, (b) affirms all of its obligations under the Loan
Documents and (c) agrees that this

 

2

 

Amendment
and all documents executed in connection herewith do not operate to reduce or
discharge its obligations under the Credit Agreement or the Loan Documents.

 

(c)                                  Each
Loan Party hereby represents and warrants as follows:

 

(i)                                     Each
Loan Party has taken all necessary action to authorize the execution, delivery
and performance of this Amendment.

 

(ii)                                  This
Amendment has been duly executed and delivered by the Loan Parties and
constitutes each of the Loan Parties’ legal, valid and binding obligations,
enforceable in accordance with its terms, except as such enforceability may be
limited by Debtor Relief Laws and general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law).

 

(iii)                               No
consent, approval, authorization or order of, or filing, registration or
qualification with, any court or governmental authority or third party is
required in connection with the execution, delivery or performance by any Loan
Party of this Amendment.

 

(d)                                 The
Loan Parties represent and warrant to the Lenders that (i) the
representations and warranties of the Loan Parties set forth in Article VI
of the Credit Agreement and in each other Loan Document are true and correct in
all material respects as of the date hereof with the same effect as if made on
and as of the date hereof, except to the extent such representations and
warranties expressly relate solely to an earlier date, in which case they shall be true and correct as of such earlier date
and (ii) no event has occurred and is continuing which constitutes a
Default or an Event of Default.

 

(e)                                  This
Amendment 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 an executed counterpart of
this Amendment by telecopy shall be effective as an original and shall
constitute a representation that an executed original shall be delivered.

 

(f)                                    THIS AMENDMENT 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.

 

[remainder of page intentionally left blank]

 

3

 

Each
of the parties hereto has caused a counterpart of this Amendment to be
duly executed and delivered as of the date first above written.

 

	
  COMPANY:

  	
  AMPHENOL CORPORATION,

  
	
   

  	
  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  SUBSIDIARY GUARANTORS:

  	
  AMPHENOL INTERCONNECT PRODUCTS

  
	
   

  	
  CORPORATION,

  
	
   

  	
  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  AMPHENOL INTERNATIONAL LTD,

  
	
   

  	
  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  TIMES FIBER COMMUNICATIONS, INC.,

  
	
   

  	
  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
						

 

 

AMPHENOL CORPORATION

SECOND AMENDMENT

 

 

	
  ADMINISTRATIVE

  	
   

  
	
  AGENT:

  	
  BANK OF AMERICA, N.A.,

  
	
   

  	
  as Administrative Agent

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  LENDERS:

  	
  BANK OF AMERICA, N.A.,

  
	
   

  	
  as a Lender, L/C Issuer and Swing Line Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [OTHER
  LENDERS]Exhibit
10.1

 

FIRST
AMENDMENT

 

This First Amendment (the “Amendment”) is dated
as of July 31, 2006 (the “Effective Date”), is between IGT (“IGT”) and Shuffle
Master Inc.(“SMI”), and is an amendment to: i) that certain agreement between
IGT and SMI, dated as of April 28, 2006 (the “April Agreement”); and ii) that
certain agreement between IGT and SMI, dated as of June 13, 2005 (the “Patent
Purchase Agreement”).

 

For good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereby
agree to amend each of the April Agreement and the Patent Purchase Agreement as
follows.

 

1.                                       Paragraph 1 (except
for the second to last sentence thereof) of the April Agreement is hereby
deleted in its entirety and, as of the Effective Date, shall be of no further
force and effect.  All monies owed, if
any, to IGT by SMI from prior to the Effective Date shall be paid to IGT within
10 days of the receipt thereof.

 

2.                                       It is agreed
that the $3,000,000 paid by IGT pursuant to paragraph 2 of the April Agreement,
along with the payment of the sum of $4,500,000 (the “New Money”), shall each
be non-refundable, and apply to, cover and constitute the full purchase price
for, as of the Effective Date, SMI selling to IGT and IGT purchasing 100% of SMI’s
current 50% ownership in the Enpat Patents. 
The term “Enpat Patents” shall be as defined as in the Patent Purchase
Agreement.  IGT agrees, within ten (10)
days of the Effective Date, to pay SMI the New Money.  The New Money shall be non-refundable.  Upon SMI’s receipt of the New Money, all of
IGT’s obligations with respect to the Future Payment (as that term is defined
in the Patent Purchase Agreement) shall be deemed fully satisfied.  In addition, as of the Effective Date, SMI hereby assigns to IGT and IGT shall receive
100% of any Royalties (as that term is defined in the Patent Purchase
Agreement), which are earned after the Effective Date, resulting from the Enpat
Patents, until IGT has earned, subsequent to the Effective Date, a total
of $17,400,000 in gross Royalties; thereafter,
IGT shall pay SMI 171⁄2 % of any gross Royalties in excess of $17,400,000 which
IGT earns subsequent to the Effective Date from the Enpat Patents.

 

3.                                       Accordingly, as
of the Effective Date and as a result of this Amendment, IGT shall own 100% of
the Enpat Patents including all right, title and interest in the Enpat Patents
and including the right to sue for past infringement.  SMI hereby represents and warrants that,
immediately prior to the Effective Date, it owns 50% of the Enpat Patents.  IGT hereby represents and warrants that it
has not transferred or assigned any interest in the Enpat Patents which it
acquired from SMI under the Patent Purchase Agreement.   Furthermore, as of the Effective Date and as
a result of this Amendment, the Patent Purchase Agreement is hereby also deemed
amended and modified to be consistent with, as of the Effective Date, IGT’s
ownership of 100% of the Enpat Patents and Shuffle Master’s ownership of 0% of
the Enpat Patents, including, without limitation, the following:

 

a)  SMI no longer shall have any joint ownership
interest in the Enpat Patents and accordingly the applicable provisions of paragraph
3.1 of the Patent Purchase Agreement are hereby modified to be consistent herewith;

 

 

1

 

b)  SMI no longer shall have any rights under or
license to the Enpat Patents and accordingly the applicable provisions of paragraph
3.2 of the Patent Purchase Agreement are hereby modified to be consistent herewith;

 

c)  SMI no longer shall have any approval rights
with respect to the licensing of the Enpat Patents and accordingly the
applicable provisions of paragraph 3.3 of the Patent Purchase Agreement are hereby
modified to be consistent herewith;

 

d)  SMI no longer shall have any approval rights
with respect to any assignment or other transfer of the Enpat Patents, and
accordingly the applicable provisions of paragraph 3.4 of the Patent Purchase
Agreement are hereby modified to be consistent herewith;

 

e)  Paragraph 2 of this Amendment is hereby deemed
to modify and amend the provisions of paragraph 6.1 of the Patent Purchase
Agreement with respect to how SMI shall share in any Royalties with respect to
the Enpat Patents;

 

f)  SMI shall instruct any licensees of the Enpat
Patents, as of the Effective Date, to submit all Royalties that may be due, as
well as any reports concerning such Royalties, directly to IGT and,
accordingly, the applicable provisions of paragraph 6.4 of the Patent Purchase
Agreement are hereby modified to be consistent herewith;

 

g)  SMI shall be relieved of its obligations
under paragraph 6.6 of the Patent Purchase Agreement, as any of same relate to
the Enpat Patents for all Royalties due after the Effective Date;

 

h)  SMI shall, within 30 days of the Effective
Date, turn over to IGT all patent prosecution files in its possession related
to the Enpat Patents and shall be relieved of any of its obligations under
paragraph 8.1 with respect to the Enpat Patents and, accordingly, the applicable
provisions of paragraph 8.1 of the Patent Purchase Agreement are hereby
modified to be consistent herewith;

 

i)  SMI no longer shall have any right to enforce
the Enpat Patents and, accordingly, the applicable provisions of paragraph 8.3
of the Patent Purchase Agreement are hereby modified to be consistent herewith;
and

 

j)  SMI no longer shall have any right to approve
any settlement offer with respect to the Enpat Patents and, accordingly, the
applicable provisions of paragraph 8.4 of the Patent Purchase Agreement are
hereby modified to be consistent herewith.

 

4.                                       SMI hereby
informs IGT that, prior to the Effective Date, Mr. John Kendall contacted SMI,
indicating a desire to obtain a sublicense from GPIC to the Enpat Patents.  SMI referred Mr. Kendall to GPIC.

 

5.                                       SMI hereby represent
and warrants that it is not aware, without any duty of inquiry or
investigation, of any facts or information that would materially adversely
affect the Enpat Patents, or their value including potential Royalties, other
than any facts or information, if any, that has already been disclosed to IGT.

 

6.                                       SMI and IGT
each hereby agree to do such additional acts and execute such additional assignments
and documents as are consistent with this Amendment, and in order to fully
implement the intent of this Amendment.

 

 

2

 

7.                                       This Amendment,
along with the applicable provisions of the April Agreement and the Patent
Purchase Agreement, constitute the entire agreement and understanding of the
parties with respect to the Enpat Patents and supersede, except for the
applicable provisions of the April Agreement and the Patent Purchase Agreement,
all prior agreements, understandings, negotiations and discussions between the
parties with respect to the Enpat Patents.

 

8.                                       In the event of
any conflict or inconsistency between either the terms of this Amendment and
the terms of the April Agreement, or the terms of this Amendment and the terms
of the Patent Purchase Agreement, then, in each case, the terms of this
Amendment shall apply and control.

 

9.                                       Without
limiting the applicability of any other representations or warranties, if any, SMI
represents and warrants that Section 9.2 of the Patent Purchase Agreement, as
it related and applies to the Enpat Patents, is still true as of the Effective
Date of this Agreement and remains effective.

 

Except as expressly amended and modified
hereby, the April Agreement shall remain in full force and effect pursuant to
each of its terms and conditions, as modified by this Amendment, and the
parties hereby ratify and confirm same. Any reference, after the Effective Date,
to the April Agreement shall mean, collectively, both the initial April
Agreement and this Amendment.

 

Except as expressly modified or amended
hereby, the Patent Purchase Agreement shall remain in full force and effect,
pursuant to each of its terms and conditions, as modified by this Amendment,
and the parties hereby ratify and confirm same. 
Any reference, after the Effective Date, to the Patent Purchase
Agreement shall mean, collectively, both the initial Patent Purchase Agreement
and this Amendment.

 

Both SMI and IGT, by each’s duly authorized
signature below, agree to this Amendment and all the terms and conditions herein.

 

The parties agree that faxed documents or
emailed (PDFs) shall have the same force and effect as originals.  If faxed or emailed copies of signatures are
used, the parties agree to execute and exchange duplicate originals within five
(5) days.

 

 

	
  IGT

  	
  SHUFFLE MASTER, INC.

  
	
   

  	
   

  
	
  Signed:

  	
   /s/ Rich Pennington

  	
   

  	
  Signed:

  	
   /s/ Paul Meyer

  	
   

  
	
   

  	
   

  
	
  Printed Name: Rich
  Pennington

  	
  Printed Name: Paul Meyer

  
	
  Title: EVP Corporate
  Strategy

  	
  Title: President and COO

  
						

 

 

3

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