Document:

SUBSCRIPTION AGREEMENT

                                       AND

                       PROSPECTIVE PURCHASER QUESTIONNAIRE

                            GLOBAL HOME MARKETING, INC.

<PAGE>

                             SUBSCRIPTION AGREEMENT

TO: GLOBAL HOME MARKETING, INC., "The Company", Seller

All investors are subject to the  provisions of the  subscription  agreement and
completion of the prospectus  purchaser  questionnaire which includes the amount
of shares  purchased,  the price of the shares,  the provisions of receiving the
share certificate(s), and representations and warranties that the purchaser is a
qualified  investor  who must have a minimum  net worth of  $250,000  and annual
individual  income  of  $100,000  for  each of the two  predecessor  years  or a
combined  household  income  with  spouse  of  $150,000  per  year  for  the two
predecessor years, or other substantial "sophisticated" investor indicators. The
purchaser  must complete a prospectus  purchaser  questionnaire  and must comply
with the minimum income and net worth provisions to be a "qualified" investor.

1. The undersigned hereby subscribes for the purchase of  ________________common
shares of  stock,  @$1.00  per  share,  of  Global  Home  Marketing,  Inc.  (the
"Company") in accordance with the terms and conditions of this Agreement.

2. This subscription is one of a limited number of such subscriptions for common
shares  of  stock  of the  Company.  The  execution  of  this  Agreement  of the
undersigned shall constitute an offer by the undersigned to subscribe for common
shares  of  stock  in the  amount  specified  below.  The  Seller,  Global  Home
Marketing,  Inc.,  shall have the right (in its sole  discretion) to reject such
offer for any reason whatsoever,  or, by executing a copy of this Agreement,  to
accept such offer. If such offer is accepted,  Global Home Marketing,  Inc. will
return an executed copy of this Agreement to the undersigned, along with a valid
share  certificate from the Company's  transfer agent,  National Stock Transfer,
Inc., 1512 South 1100 East, Salt Lake City, Utah 84105. If this  subscription is
rejected or if the offering is not consummated for any reason, the undersigned's
subscription  payment  will  be  returned,  uncashed,  as  soon  as  practicable
following  termination of the offering or the date of rejection,  as applicable.
It is understood that this subscription is not binding on Global Home Marketing,
Inc.  unless  and  until it is  accepted  by Global  Home  Marketing,  Inc.,  as
evidenced by its execution of this Subscription Agreement where indicated below.

3.  The undersigned hereby makes the following representations and warranties:

     a. The undersigned  has been furnished with and has carefully  reviewed the
Memorandum and documents attached thereto.

     b. All information  provided to the Global Home Marketing,  Inc., including
that in the  Prospective  Purchaser  Questionnaire,  is  true  and  correct  and
complete in all respects as of the date hereof.

     c. The undersigned is at least  twenty-one (21) years of age and sufficient
legal capacity to execute this Agreement.

     d. The undersigned has sufficient knowledge and expertise in business,  and
financial matters to evaluate the merits and risk of an investment.

     e. The  undersigned  is a qualified investor as that term is defined above.

     f. The undersigned  has analyzed and reviewed the information  contained in
the  Prospectus  and has had an  opportunity  to ask  questions  of and  receive
answers  from the  Company,  or any  person or  persons  acting  on its  behalf,
concerning the terms and conditions of this  investment,  and all such questions
have been answered to the full satisfaction of the undersigned.

     g. The  undersigned  has adequate  means of providing for his current needs
and  possible  personal  contingencies  and has no need  for  liquidity  in this
investment,  and his overall  commitment  to  investments  which are not readily
marketable is not  disproportionate  to his net worth, and his investment in the
shares will not cause such overall commitment to become excessive.

<PAGE>

     h. The  undersigned  understands  that the common shares of stock have been
registered  under the Securities Act of 1933, as amended (the "Act") pursuant to
the completion of an SB-2 Registration Statement but not with any state.

     i. The  undersigned  is  acquiring  the common  shares of stock for his own
account for  investment  purposes only and is not  purchasing the subject shares
for an undisclosed third party.

     j. If the  undersigned  is a  corporation,  partnership,  trust,  or  other
entity, it represents:

          (i) It is duly organized, validly existing, and in good standing under
     the laws of the United States of America, or elsewhere,  and has all of the
     requisite power and authority to invest in the shares as provided herein.

          (ii) Such  investment does not result in any violation of, or conflict
     with,  any  term  of  the  charter  or  bylaws  of the  undersigned  or any
     instrument to which it is bound or any law or regulation applicable to it.

          (iii) Such  investment  has been duly  authorized by all the necessary
     action on behalf of the undersigned.

          (iv) This  Agreement has been duly executed and delivered on behalf of
     the undersigned and constitutes a legal, valid and binding agreement of the
     undersigned.

     The foregoing  representations and warranties shall be true and accurate as
of the date  hereof  and as of the date of  delivery  of the  purchase  price to
Global Home Marketing, Inc., and shall survive such delivery period.

4.     Miscellaneous

     a. This Agreement, any amendments or replacements hereof, and the legality,
validity,  and  performance  of the terms  hereof,  shall be  governed  by,  and
enforced,  determined and construed in accordance with, the laws of the State of
Nevada applicable to contracts, transactions and obligations entered into and to
be performed in such State.

     b. This Agreement  contains the entire agreement  between the parties.  The
provisions of this Agreement may not be modified or waived except in writing.

     c. This Agreement and the rights, powers and duties set forth herein shall,
except  as set  forth  herein,  bind and  inure  to the  benefit  of the  heirs,
executors, administrators, legal representatives, successors and assignes of the
parties hereto. The undersigned may not assign any of his rights or interests in
and under this  Agreement  wihout the prior  written  consent of the Global Home
Marketing, Inc., and any attempted assignment without such consent shall be void
and without effect.

     d. It is  understood  that this  Subscription  is offered on a subject  top
prior sale basis and is not binding on Global  Home  Marketing,  Inc.  until the
Company accepts it, which  acceptance is at the sole  discretion of Company,  by
executing this Subscription Agreement where indicated.

                                       -2-

<PAGE>

5.  Subscription.   The  undersigned  hereby  subscribes  for  the  purchase  of
______________common shares of stock of Global Home Marketing, Inc. and encloses
payment in the amount of $ ____________($1.00 per share) payable to "Global Home
Marketing, Inc., Special Account"

                       TYPE OF OWNERSHIP

                    _________ Individual

                    _________ Joint Tenants with Right of Survivorship

                    _________ Tenants in Common

                    _________ Community Property

                    _________ Other

Executed this _______ day of _________, 2001, at _______________________________

________________________________________________________________________________

______________________________________________
Print Name

______________________________________________
Signature of Investor

______________________________________________
Social Security or other identification number

If the Investor  has  indicated  that the shares will be held as joint  tenants,
tenants in common or as community property, please complete the following:

______________________________________________
Print Name of Spouse or Other Investor

______________________________________________
Signature of Spouse or Other Investor

______________________________________________
Social Security or other identification number

                                       -3-

<PAGE>

If the Investor is a partnership, corporation or trust, complete the following:

______________________________________________
Name of Partnership, Corporation or Trust
                                                 (affix seal, if any)

By:
   ___________________________________________

______________________________________________
Print Name of Individual Signing

______________________________________________
Capacity of Individual Signing

Accepted

Global Home Marketing, Inc.

By:
   ___________________________________________

Title:
      ________________________________________

______________________________________________
Date of Acceptance

                                      -4-
<PAGE>

                    PROSPECTIVE PURCHASER QUESTIONNAIRE

TO: GLOBAL HOME MARKETING, INC.

To Whom It May Concern:

The information  contained  herein is being furnished to you in order for you to
determine  whether the undersigned may purchase common shares of stock of Global
Home  Marketing,  Inc.,  pursuant to an SB-2  Registration  Statement,  from the
Company. The undersigned herein states that he (she) is a qualified investor and
has knowledge and experience in financial and business matters and is capable of
evaluating the merits and risks of the proposed investment.

The undersigned further represents that (i) the information  contained herein is
complete  and  accurate  and may be relied upon by you and (ii) the  undersigned
will notify you  immediately of any material  change in any of such  information
occurring prior to the purchase of the subject common shares of stock.

The  undersigned  understands  and agrees that this  questionnaire  will be kept
strictly confidential.

In accordance with the foregoing, the following  representations and information
are hereby made and furnished by:

______________________________________________
Print Name of Prospective Purchaser

______________________________________________
Signature of Prospective Purchaser

                                        1

<PAGE>

  INSTRUCTIONS:      Please answer all questions. If the answer to any questions
                     is "None" or "Not Applicable," please so state.

 1 Full Name _______________________________________

    Social Security Number _________________________

    Age ________

    Occupation _____________________________________

    Citizenship___________________  Number of Dependents ___________

 Residential Address:

 ______________________________________________________

 ______________________________________________________

       Please indicate your preferred mailing address:

       (  ) Residential (  ) Business

2.   Was your  income  (from all  sources)  for each of the two latest  complete
     calendar years more than (check one):

   ______$ 30,000     _____$ 50.000     _____$100,000       _____$150,000
   ______$200.000     _____$250.000     _____$300,000       _____$350.000

     (a)  What percentage of your income as shown above was derived from sources
          other than salary?

          ___________________%

     (b)  Approximately  what  percentage of your income as shown above remained
          after payment of Federal,  state and local taxes, and after payment of
          all ordinary and necessary living expenses?

          ___________________%

    (c)   Does the above income represent your joint income with your spouse?

          Yes _______    No _______

3.   Is your  income from all  sources  anticipated  for the current tax year in
     excess of (check one):

   ______$ 30,000     _____$ 50.000     _____$100,000       _____$150,000
   ______$200.000     _____$250.000     _____$300,000       _____$350.000

     (a)  Does the above income represent your joint income with your spouse?

          Yes _______    No _______

                                        2

<PAGE>

4. Is your net worth as of the date hereof in excess of (check one):

   ______$ 30,000     _____$ 50.000     _____$100,000       _____$150,000
   ______$200.000     _____$250.000     _____$300,000       _____$350.000

     (a)  What  percentage  of your  net  worth as shown  above is  invested  in
          restricted  securities or investments in marketable securities (stock.
          bonds, debentures, or notes)?

        Restrictive securities   ______________%

        Marketable securities    ______________%

                                 ==============%

     (b)  Do these net worth  representations  include your spouse's  assets and
          liabilities?

          Yes _______    No _______

     (c)  What  percentage  of your net worth as shown above  constitutes  home,
          furnishings, and automobiles? _____________%

     (d)  What  percentage of your net worth as shown above  constitutes  liquid
          assets (cash or assets readily convertible to cash)? _____________%

5.   For investors other than natural persons:

     (a)  Type of entity.  Corporation _______ Trust _______ Partnership _______
          Other (specify) ___________________

     (b)  Date or organization: ____________________

     (c)  Number of equity owners (stockholders, partners, beneficiaries, etc.):

     (d)  Was the entity  formed for the primary  purpose of investing in direct
          participation programs or other passive investments?

          Yes _______    No _______

6.   Please supply the following information with respect to the bank (or banks)
     at which you maintain a regular checking account:

    Name of Bank:_____________________________

    Address:__________________________________

    Telephone:________________________________

    Contact:__________________________________

7.  (a) Are you  aware  that  the  securities  proposed  to be  offered  will be
        nonmarketable,  requiring  your  capital  investment  to be  maintained
       for  an indefinite period of time?

       Yes _______    No _______

                                        3

<PAGE>

     (b)  Do you have any  investments or contingent  liabilities  which you can
          reasonably   anticipate   could   cause  the  need  for  sudden   cash
          requirements in excess of cash readily available to you'.'

          Yes _______    No _______

          If "Yes," please explain.

          ______________________________________________________________________

          ______________________________________________________________________

          ______________________________________________________________________

8.   Please list your business or professional  educational  background (schools
     attended and degrees obtained):

     Schools                        Degree              Dates Attended

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

9.   Please  list any  professional  licenses  or  registrations  including  bar
     admissions, accounting certifications,  real estate brokerage licenses, and
     SEC or state broker-dealer registrations, held by you:

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

10.  Please list your principal  employment and business  activities  during the
     last five years, as well as any relevant financial experience.

     Employer                     Position/Title             Employment Dates

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

11.  Please describe your experience as an investor, including amounts invested,
     in securities, particularly investments in nonmarketable securities.

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

                                        4

<PAGE>

12.  Have you participated in other private placements of securities?

     Yes _______    No _______

I understand  that the Company will be relying on the accuracy and  completeness
of my responses to the  foregoing  questions  and I represent and warrant to the
Company as follows:

     i.   The answers to the above  questions are complete and cornea and may be
          relied upon by the  Company in  determining  whether  the  offering in
          which I propose to participate is exempt from  registration  under the
          Securities Act of 1933, as amended;

     ii.  I will notify the Company  immediately  of any material  change in any
          statement made herein occurring prior to the closing of any purchase.

     iii. I, am a  "qualified  investor"  as that term is  defined  above,  have
          sufficient  knowledge and experience in financial and business matters
          to evaluate the merits and risks of the prospective investments;  I am
          able to bear the economic risk of the investment  and currently  could
          afford a complete loss of such investment

    IN WITNESS WHEREOF, I have executed this Prospective Purchaser Questionnaire
    this _____ day of____________

_______________________________            __________________________________
Prospective Purchaser                      Prospective Purchaser
Signature                                  Signature

_______________________________            __________________________________
Print Name                                 Print Name

Sworn to me this _____ day of _____________, 199

_______________________________
Notary Public

_______________________________
My commission expires:                            (Notarial Seal)

                                        5Prepared by MERRILL CORPORATION

Exhibit 10.26

 

 

AMENDED AND RESTATED 364-DAY CREDIT AGREEMENT

dated

as of August 30, 2001

 

among

 

PENTAIR,

INC.,

 

Various

Financial Institutions,

 

BANK

ONE, NA,

as

Syndication Agent,

 

THE

BANK OF TOKYO-MITSUBISHI, LTD.,

MORGAN

GUARANTY TRUST COMPANY OF NEW YORK

and

U.S.

BANK NATIONAL ASSOCIATION,

as

Co-Documentation Agents,

 

FLEET

NATIONAL BANK

and

FIRST

UNION NATIONAL BANK,

as

Co-Agents,

 

and

 

BANK

OF AMERICA, N.A.,

as

Administrative Agent

 

 

 

 

 

 

 

BANC

OF AMERICA SECURITIES LLC

and

BANC

ONE CAPITAL MARKETS, INC.

Co-Lead

Arrangers and Co-Book Managers

 

 

AMENDED

AND RESTATED 364-DAY CREDIT AGREEMENT

 

 

THIS AMENDED AND RESTATED

364-DAY CREDIT AGREEMENT dated as of August 30, 2001 is among PENTAIR,

INC. (the “Company”), the financial

institutions listed on the signature pages hereof (the “Lenders”), BANK ONE, N.A., as Syndication Agent, and

BANK OF AMERICA, N.A., as Administrative Agent.

WHEREAS, the Company,

various financial institutions (the “Existing Lenders”)

and  the Administrative Agent entered

into a 364-Day Credit Agreement dated as of September 2, 1999 (as amended, the

“Credit Agreement”; terms defined in the

Credit Agreement are, unless otherwise defined herein or the context otherwise

requires, used herein as defined therein); and

WHEREAS, the parties

hereto desire to amend the Credit Agreement as set forth herein and to restate

the Credit Agreement in its entirety to read as set forth in the Credit

Agreement with the amendments specified below;

NOW, THEREFORE, the

parties hereto agree as follows:

SECTION

1            Amendments. 

Effective as of the date hereof and subject to the occurrence of the

Restatement Effective Date (as defined below), the Credit Agreement shall be

amended as set forth below:

1.1           Extension of Termination Date. 

The definition of the term “Termination Date” in Section 1.01 shall be

amended by deleting the date “August 30, 2001” therein and substituting the

date “August 29, 2002” therefor.

1.2           Amendment to Schedule 2.01. 

Schedule 2.01 is amended in its entirety by substituting Schedule 2.01 hereto therefor.

1.3           Amendment to Exhibit H.  

Exhibit H is amended in its entirety by substituting Exhibit H hereto therefor.

SECTION

2            Representations and

Warranties. 

The Company represents and warrants to the Lenders and the

Administrative Agent that:  (a) each of

the representations and warranties of the Company set forth in the Credit

Agreement, as amended and restated hereby (as so amended and restated, the “Restated Credit Agreement”) is true and correct as

of the date hereof, with the same effect as if made on such date (except to the

extent such representations and warranties expressly refer to an earlier date,

in which case they were true and correct as of such earlier date); (b) the

execution and delivery hereof by the Company and the performance by the Company

of its obligations under the Restated Credit Agreement (i) are within the

powers of the Company, (ii) have been duly authorized by all necessary action

on the part of the Company, (iii) have received all necessary governmental

approval and (iv) do not and will not contravene or conflict with (x) any

provision of law or the certificate of incorporation or by–laws or other

organizational documents of the Company or (y) any agreement, judgment,

injunction, order, decree or other instrument which is binding upon the Company

or any of its Subsidiaries; and (c) the Restated Credit Agreement is the legal,

valid and binding obligation of the Company enforceable against the Company in

accordance with its terms, except as enforceability may be limited by

bankruptcy, insolvency or other similar laws of general application affecting

the enforcement of creditors’ rights or by general principles of equity

limiting the availability of equitable remedies.

SECTION

3            Effectiveness. 

The Restated Credit Agreement shall become effective on the date (the “Restatement Effective Date”) when the Administrative

Agent shall have received:

(a)           Restated Credit Agreement. 

Signature pages hereto signed by the Company, each of the Lenders and

the Administrative Agent (it being understood that Administrative Agent may

rely on a facsimile of any signature page as if it were an original).

(b)           Resolutions; Incumbency.

(i)            Copies of resolutions of the board

of directors of the Company authorizing the execution and delivery of this

agreement and the consummation of the transactions contemplated hereby,

certified as of the Restatement Effective Date by the Secretary or an Assistant

Secretary of the Company, and

(ii)           A certificate of the Secretary or an

Assistant Secretary of the Company certifying the names and true signatures of

the officers of the Company authorized to execute and deliver this agreement.

(c)           Confirmation. 

A Confirmation substantially in the form of Exhibit

A signed by each Subsidiary Guarantor.

(d)           Certificate. 

A certificate of the President, the chief financial officer, the chief

accounting officer or the vice president-treasurer of the Company, dated as of

the Restatement Effective Date, stating that:

(i)            the representations and warranties

contained in Section 2 are true and correct on

and as of such date, as though made on and as of such date,

(ii)           no Event of Default or Unmatured

Event of Default exists or would result from the effectiveness of this agreement,

and

(iii)          since December 31, 2000, no event or

circumstance has occurred that has resulted or could reasonably be expected to

result in a Material Adverse Effect.

(e)           Legal Opinion. 

An opinion of Louis L. Ainsworth, Senior Vice President and General

Counsel of the Company, substantially in the form of Attachment

1.

(f)            Other Documents. 

Such other documents as the Administrative Agent or any Lender may

reasonably request.

(g)           Payment of Obligations. 

Evidence of payment by the Company of all amounts payable under the

Credit Agreement (other than contingent indemnification obligations) and all

accrued and unpaid fees, costs and expenses payable hereunder to the extent

then due.

SECTION

4            Miscellaneous.

4.1           Amendment and Restatement.  Upon the

effectiveness hereof, the Credit Agreement shall be restated in its entirety to

read as set forth in the Credit Agreement as amended hereby and all rights and

obligations of the parties shall be as set forth in the Restated Credit

Agreement (except that any provision of the Credit Agreement which by its terms

survives termination thereof shall remain in full force and effect).

4.2           Counterparts. 

This agreement may be executed in any number of counterparts and by the

different parties on separate counterparts, and each such counterpart shall be

deemed to be an original but all such counterparts shall together constitute

one and the same agreement.

4.3           Expenses. 

The Company agrees to pay all reasonable costs and expenses of the

Administrative Agent, including reasonable fees and charges of counsel to the

Administrative Agent, in connection with the preparation, execution and

delivery of this agreement.

4.4           Governing Law. 

This agreement shall be a contract made under and governed by the laws

of the State of Illinois applicable to contracts made and to be performed

entirely within such State.

4.5           Successors and Assigns. 

This agreement shall be binding upon the Company, the Lenders and the

Administrative Agent and their respective successors and assigns, and shall

inure to the benefit of the Company, the Lenders and the Administrative Agent

and the respective successors and assigns of the Lenders and the Administrative

Agent.

 

IN WITNESS WHEREOF, the

parties hereto have caused the Agreement to be duly executed and delivered by

their proper and duly authorized officers as of the day and year first above

written.

	

   

  	

   

  
	

   

  	

  PENTAIR, INC.

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  BANK OF AMERICA, N.A.,

  
	

   

  	

  as Administrative Agent

  and as a Lender

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  BANK ONE, NA (Main

  Office Chicago)

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  THE BANK OF

  TOKYO-MITSUBISHI, LTD.

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  MORGAN GUARANTY TRUST

  COMPANY OF NEW YORK

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  

 

 

	

   

  	

  U.S. BANK NATIONAL

  ASSOCIATION

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  FLEET NATIONAL BANK

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  FIRST UNION NATIONAL

  BANK

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  BANCA NAZIONALE DEL

  LAVORO S.P.A. NEW YORK BRANCH

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  THE INDUSTRIAL BANK OF

  JAPAN, LIMITED

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  

 

 

	

   

  	

  CREDIT LYONNAIS CHICAGO

  BRANCH

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  NATIONAL CITY BANK

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  BANCA ANTONVENETA NEW

  YORK BRANCH

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  BANK HAPOALIM B.M.

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  MELLON BANK, N.A.

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  

 

	

   

  	

  THE DAI-ICHI KANGYO

  BANK, LTD.

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  BANCA DI ROMA – CHICAGO

  BRANCH

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  WELLS FARGO BANK,

  NATIONAL ASSOCIATION

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  BNP PARIBAS

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  THE BANK OF NEW YORK

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  SANWA BANK LIMITED

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  

 

SCHEDULE 2.01

 

COMMITMENTS

AND PRO RATA SHARES

	

   

  	

   

  	

   

  	

   

  	

  Pro

  Rata

  	

   

  
	

  Lender

  	

   

  	

  Commitment

  	

   

  	

  Share

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  Bank of America,

  N.A.

  	

   

  	

  $

  	

  30,000,000

  	

   

  	

  9.523809523

  	

  %

  
	

  Bank One, NA

  	

   

  	

  $

  	

  30,000,000

  	

   

  	

  9.523809523

  	

  %

  
	

  The Bank of

  Tokyo-Mitsubishi, Ltd.

  	

   

  	

  $

  	

  30,000,000

  	

   

  	

  9.523809523

  	

  %

  
	

  Morgan Guaranty

  Trust Company of New York

  	

   

  	

  $

  	

  30,000,000

  	

   

  	

  9.523809523

  	

  %

  
	

  U.S. Bank

  National Association

  	

   

  	

  $

  	

  30,000,000

  	

   

  	

  9.523809523

  	

  %

  
	

  Fleet National

  Bank

  	

   

  	

  $

  	

  20,000,000

  	

   

  	

  6.349206349

  	

  %

  
	

  First Union

  National Bank

  	

   

  	

  $

  	

  20,000,000

  	

   

  	

  6.349206349

  	

  %

  
	

  Banca Nazionale

  del Lavoro S.p.A. New York Branch

  	

   

  	

  $

  	

  17,000,000

  	

   

  	

  5.396825396

  	

  %

  
	

  The Industrial

  Bank of Japan, Limited

  	

   

  	

  $

  	

  10,000,000

  	

   

  	

  3.174603174

  	

  %

  
	

  Credit Lyonnais

  Chicago Branch

  	

   

  	

  $

  	

  10,000,000

  	

   

  	

  3.174603174

  	

  %

  
	

  National City

  Bank

  	

   

  	

  $

  	

  10,000,000

  	

   

  	

  3.174603174

  	

  %

  
	

  Banca Antonveneta

  New York Branch

  	

   

  	

  $

  	

  10,000,000

  	

   

  	

  3.174603174

  	

  %

  
	

  Bank Hapoalim

  B.M.

  	

   

  	

  $

  	

  10,000,000

  	

   

  	

  3.174603174

  	

  %

  
	

  Mellon Bank,

  N.A.

  	

   

  	

  $

  	

  10,000,000

  	

   

  	

  3.174603174

  	

  %

  
	

  The Dai-Ichi

  Kangyo Bank, Ltd.

  	

   

  	

  $

  	

  8,500,000

  	

   

  	

  2.698412698

  	

  %

  
	

  Banca di Roma –

  Chicago Branch

  	

   

  	

  $

  	

  8,500,000

  	

   

  	

  2.698412698

  	

  %

  
	

  Wells Fargo

  Bank, National Association

  	

   

  	

  $

  	

  8,500,000

  	

   

  	

  2.698412698

  	

  %

  
	

  BNP Paribas

  	

   

  	

  $

  	

  7,500,000

  	

   

  	

  2.38095238

  	

  %

  
	

  The Bank of New

  York

  	

   

  	

  $

  	

  7,500,000

  	

   

  	

  2.38095238

  	

  %

  
	

  Sanwa Bank

  Limited

  	

   

  	

  $

  	

  7,500,000

  	

   

  	

  2.38095238

  	

  %

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  TOTAL

  	

   

  	

  $

  	

  315,000,000

  	

   

  	

  100

  	

  %

  

 

EXHIBIT A

CONFIRMATION BY GUARANTORS

To the Administrative Agent and the Lenders under and

as defined in the Credit Agreement referred to below

Please refer to the Amended and Restated 364-Day

Credit Agreement dated as of August 30, 2001 (the “Restated

Credit Agreement”) among Pentair, Inc. (the “Company”), various financial institutions and

Bank of America, N.A., as Administrative Agent.  Capitalized terms used but not defined herein are used as defined

in the Restated Credit Agreement.

Each of the undersigned hereby confirms to the

Administrative Agent and the Lenders that, after giving effect to the

effectiveness of the Restated Credit Agreement, the Subsidiary Guaranty (i)

continues in full force and effect as a guaranty of all obligations of the

Company under the Restated Credit Agreement and (ii) continues to be a legal,

valid and binding obligation of such undersigned, enforceable against such

undersigned in accordance with its terms, subject to bankruptcy, insolvency and

similar laws affecting the enforceability of creditors’ rights generally and to

general principles of equity.

[Remainder of page

intentionally left blank.]

 

IN WITNESS WHEREOF, each

of the undersigned has caused this Confirmation to be executed and delivered by

its duly authorized representative as of August 30, 2001.

APLEX INDUSTRIES, INC.

BIESEMEYER MANUFACTURING

CORPORATION

CENTURY MANUFACTURING CO.

CODELINE CORPORATION

COMPOOL, INC.

DELTA INTERNATIONAL

MACHINERY CORPORATION

DEVILBISS AIR POWER COMPANY

ELECTRONIC ENCLOSURES, INC.

ENPAC CORPORATION

ESSEF CORPORATION

FALCON MANUFACTURING, INC.

FLECK CONTROLS, INC.

HOFFMAN ENCLOSURES INC.

LINCOLN AUTOMOTIVE COMPANY

LINCOLN INDUSTRIAL

CORPORATION

MCNEIL (OHIO) CORPORATION

NATIONAL POOL TILE GROUP,

INC.

ORSCO, INC.

PENTAIR ENCLOSURES, INC.

PENTAIR ELECTRONIC PACKAGING

COMPANY

PENTAIR POOL PRODUCTS, INC.

PENTAIR TOOL & EQUIPMENT

SALES CO.

PORTER-CABLE CORPORATION

PUREX POOL SYSTEMS, INC.

RAINBOW ACQUISITION CORP.

SANFORD TECHNOLOGIES

SCHROFF, INC.

STRUCTURAL AUSTRALIA

WALKER DICKSON, INC.

WEB TOOL &

MANUFACTURING, INC.

WTM, INC.

 

	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Name:

  Roy Rueb

  
	

   

  	

  Title:  Secretary and Treasurer

  

 

EXHIBIT H

FORM OF ASSIGNMENT

AND ACCEPTANCE

This

Assignment and Acceptance (this “Assignment”) is dated as of the

Effective Date set forth below and is entered into by and between [Insert name

of Assignor] (the “Assignor”) and [Insert name of Assignee]

(the “Assignee”).  Capitalized

terms used but not defined herein shall have the respective meanings given to

them in the Amended and Restated 364-Day Credit Agreement identified below (the

“Credit Agreement”), receipt of a copy of which is hereby acknowledged

by the Assignee.  The Standard Terms and

Conditions set forth in Annex 1 attached hereto are hereby agreed to and

incorporated herein by reference and made a part of this Assignment as if set

forth herein in full.

 

For

an agreed consideration, the Assignor hereby irrevocably sells and assigns to

the Assignee, and the Assignee hereby irrevocably purchases and assumes from

the Assignor, subject to and in accordance with the Standard Terms and

Conditions and the Credit Agreement, as of the Effective Date inserted by the

Administrative Agent as contemplated below, the interest in and to all of the

Assignor’s rights and obligations under the Credit Agreement and any other

documents or instruments delivered pursuant thereto that represents the amount

and percentage interest identified below of all of the Assignor’s outstanding

rights and obligations under the respective facilities identified below (the “Assigned

Interest”).  Such sale and

assignment is without recourse to the Assignor and, except as expressly

provided in this Assignment, without representation or warranty by the

Assignor.

 

1.             Assignor:              ______________________________

 

2.             Assignee:              ______________________________ [, an Affiliate of the

Assignor] [, a

Lender]

 

3.             Borrower:               Pentair, Inc.

 

4.             Administrative

                Agent:                   Bank

of America, N.A., as administrative agent under the Credit

                                                Agreement

 

5.             Credit

Agreement:           The Amended and Restated 364-Day

Credit Agreement, dated as of

August 30, 2001,

among  Pentair, Inc., various financial

institutions and

Bank of America,

N.A., as administrative agent

 

6.             Payment

of  Administrative Agent’s Fee: The

[Assignor][Assignee] shall, prior to the Effective Date, pay to the

Administrative Agent for its own account a processing fee in the amount

specified in Section 11.06(b) of the Credit Agreement.

 

7.             Assigned

Interest:

 

	

  Facility Assigned

  	

   

  	

  Aggregate

  Amount of Commitment/Loans for all Lenders

  	

   

  	

  Amount

  of Commitment/Loans Assigned

  	

   

  	

  Percentage

  Assigned of Commitment/Loans1

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  2

  	

   

  	

  $

  	

   

  	

  $

  	

   

  	

  %

  
	

   

  	

   

  	

  $

  	

   

  	

  $

  	

   

  	

  %

  
	

   

  	

   

  	

  $

  	

   

  	

  $

  	

   

  	

  %

  

 

Effective Date: __________________, 20__ [TO

BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF

RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

 

                1 Set forth, to at least 9 decimals, as a

percentage of the Commitment/Loans of all Lenders thereunder.

                2 Fill in the appropriate terminology for the

types of facilities under the Credit Agreement that are being assigned under

this Assignment (e.g. “Commitment,” “Committed Loan,” “Bid Loan”).

 

 

The terms set forth in this Assignment are

hereby agreed to:

 

	

   

  	

  ASSIGNOR

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

  [NAME OF ASSIGNOR]

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

  By: 

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Title:

  
	

   

  	

   

  	

   

  
	

   

  	

  ASSIGNEE

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

  [NAME OF ASSIGNEE]

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Title:

  
						

[Consented to and Accepted:]3

 

3 To be added only if the consent of the

Administrative Agent is required by the terms of the Credit Agreement.

 

 

	

  [BANK OF AMERICA, N.A., as

  	

   

  
	

   

  Administrative Agent]

  	

   

  
	

   

  	

   

  
	

  By: 

  	

   

  	

   

  	

   

  
	

   

  	

  Title:

  
				

 

[Consented to:]4

 

[PENTAIR, INC.]

 

By: _________________________________

      Title:

 

4 To be added only if the consent of the

Company is required by the terms of the Credit Agreement.

 

ANNEX 1 TO ASSIGNMENT AND ACCEPTANCE

 

 

STANDARD TERMS AND CONDITIONS FOR ASSIGNMENT

AND ASSUMPTION AGREEMENT

 

1.         Representations and Warranties.

 

1.1.      Assignor.  The Assignor (a) represents and warrants that (i) it is the legal

and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is

free and clear of any lien, encumbrance or other adverse claim and (iii) it has

full power and authority, and has taken all action necessary, to execute and

deliver this Assignment and to consummate the transactions contemplated hereby;

and (b) assumes no responsibility with respect to (i) any statements,

warranties or representations made in or in connection with any Credit

Document(as hereinafter defined), (ii) the execution, legality, validity,

enforceability, genuineness, sufficiency or value of the Credit Agreement or

any other instrument or document delivered pursuant thereto, other than this

Assignment (collectively the “Credit Documents”), or any collateral

thereunder, (iii) the financial condition of the Company, any of its

Subsidiaries or Affiliates or any other Person obligated in respect of any

Credit Document or (iv) the performance or observance by the Company, any of

its Subsidiaries or Affiliates or any other Person of any of their respective

obligations under any Credit Document.

 

1.2.      Assignee.  The Assignee (a) represents and warrants that (i) it has full

power and authority, and has taken all action necessary, to execute and deliver

this Assignment and to consummate the transactions contemplated hereby and to

become a Lender under the Credit Agreement, (ii) it is a bank or other financial

institution, (iii) from and after the Effective Date, it shall be bound by the

provisions of the Credit Agreement and, to the extent of the Assigned Interest,

shall have the obligations of a Lender thereunder, (iv) it has received a copy

of the Credit Agreement, together with copies of the most recent financial

statements delivered pursuant to Section 8.01 thereof, and such other documents

and information as it has deemed appropriate to make its own credit analysis

and decision to enter into this Assignment and to purchase the Assigned

Interest on the basis of which it has made such analysis and decision, (v) as

of the date hereof, the Company will not be obligated to pay any greater amount

to the Assignee under Article V of the Credit Agreement than the Company is

obligated to pay to the Assignor under such Article and (vi) if it is organized

under the laws of a jurisdiction outside the United States, attached hereto is

any documentation required to be delivered by it pursuant to the terms of the

Credit Agreement (including, without limitation, Section 5.05(e) thereof), duly

completed and executed by the Assignee; and (b) agrees that (i) it will,

independently and without reliance on the Administrative Agent, the Assignor 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 Documents, and (ii) it will perform in

accordance with their terms all of the obligations which by the terms of the

Credit Documents are required to be performed by it as a Lender.

 

2.         Assignee’s Address for Notices, etc.  Attached hereto as Schedule 1 is all contact

information, address, account and other administrative information relating to

the Assignee.

 

3.         Payments.  From and after the Effective Date, the

Administrative Agent shall make all payments in respect of the Assigned

Interest (including payments of principal, interest, fees and other amounts) to

the Assignee whether such amounts have accrued prior to, on or after the

Effective Date. The Assignor and the Assignee shall make all appropriate

adjustments in payments by the Administrative Agent for periods prior to the

Effective Date or with respect to the making of this assignment directly between

themselves.

 

4.         General Provisions.  This Assignment shall be binding upon, and

inure to the benefit of, the parties hereto and their respective successors and

assigns.  This Assignment may be

executed in any number of counterparts, which together shall constitute one

instrument.  Delivery of an executed

counterpart of a signature page of this Assignment by telecopy shall be

effective as delivery of a manually executed counterpart of this Assignment.  This Assignment shall be governed by, and

construed in accordance with, the substantive laws of the State of Illinois

without regard to the choice of law provisions thereof.

 

SCHEDULE 1 TO ASSIGNMENT AND ASSUMPTION AGREEMENT

ADMINISTRATIVE DETAILS

 

(Assignee

to list names of credit contacts, addresses, phone and facsimile numbers,

electronic mail addresses and account and payment information)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00030-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00030-of-00352.parquet"}]]