Document:

exhibit10-7exhccc2010q2.htm

  

  

  

Exhibit 10.7

 

EXHIBIT C

 

Form Of

COMPLIANCE CERTIFICATE

 

[For the Fiscal Year Ended ____________, 20__]

or

[For the Fiscal Quarter Ended _____________, 20__]

 

The undersigned, __________________ of Matthews International Corporation, a Pennsylvania corporation (the "Borrower"), hereby certifies to the Agent (as hereinafter defined) and each of the Banks (as hereinafter defined) pursuant to the Loan Agreement, dated December 3, 2001, by and among the Borrower, the Banks listed on the signature pages thereof (collectively, the "Banks") and Citizens Bank of Pennsylvania, a Pennsylvania banking institution, in its capacity as agent for the Banks (in such capacity the "Agent"), PNC Bank, National Association, a national banking association, in its capacity as documentation agent for the Banks, as amended by that certain First Amendment to Loan Agreement, dated April 21, 2004, by and among the Borrower, the Banks, Citizens Bank of Pennsylvania, a Pennsylvania banking institution, in its capacity as lead arranger and administrative agent for the Banks, PNC Bank, National Association, a national banking association, in its capacity as lead arranger and syndication agent for the Banks, and National City Bank of Pennsylvania, in its capacity as documentation agent for the Banks (together with all exhibits, schedules, extensions, renewals, amendments, substitutions and replacements thereto and thereof, the "Loan Agreement") as follows:

 

CHECK ONE:

 

___1.           The annual financial statements being delivered to the Agent and the Banks with this Compliance Certificate are true, complete and correct and present fairly the Consolidated financial position of the Borrower and its Subsidiaries and the results of their operations for the fiscal year set forth above in conformance with GAAP consistently applied.

 

OR

 

___1.           The quarterly financial statements being delivered to the Agent and the Banks with this Compliance Certificate are true, complete and correct and present fairly the Consolidated financial position of the Borrower and its Subsidiaries and the results of their operations for the Fiscal Quarter set forth above in conformity with GAAP consistently applied, subject to year end audit adjustment.

 

___2.           No Event of Default or Potential Default exists on the date of this Compliance Certificate; no Event of Default or Potential Default has occurred since the date of the previously delivered Compliance Certificate; no Material Adverse Change has occurred since the date of the previously delivered Compliance Certificate; and no event has occurred since the date of the previously delivered Compliance Certificate that may result in a Material Adverse Effect.

 

[Note: If any of the above events has occurred or is continuing, set forth on an attached sheet the nature thereof and the action which the Borrower has taken, is taking or proposes to take with respect thereto.]

 

3.           For purposes of calculating the Applicable Libor Margin, commencing on the next Incentive Pricing Effective Date and for each day thereafter through and including the day immediately preceding the next successive Incentive Pricing Effective Date, the Borrower's Invested Funds shall be $_______________.

 

4.           The Borrower's compliance with the financial covenants set forth in Section 5.15 of the Loan Agreement is as follows:

 

	  	
Requirement

	
Actual

	  	  	  
	
Leverage Ratio

	
Less than or equal to 2.00 to 1.00 as of June 30, 2004 and as of the last day of each Fiscal Quarter thereafter, for the period equal to the four (4) consecutive Fiscal Quarters then ending.

 

	
________ to 1.00

	  	  	  
	
Interest Coverage Ratio

	
Greater than or equal to 4.00 to 1.00 as of June 30, 2004, and as of the last day of each Fiscal Quarter thereafter, for the period equal to the four (4) consecutive Fiscal Quarters then ending.

	
________ to 1.00

5.           The calculations used in connection with the above financial covenants are attached to this Compliance Certificate.

6.           [To be included only if the annual financial statements are being delivered with this Compliance Certificate] The Liens permitted pursuant to Sections 6.01(j) of the Loan Agreement listed on Schedule 1 to this Compliance Certificate are true, complete and correct.

  

  

  

All capitalized terms used in this Compliance Certificate which are not defined herein but which are defined in the Loan Agreement shall have the meanings given to them in the Loan Agreement.

Dated the ___ day of _________, _______.

Matthews International Corporation, a Pennsylvania corporation

By:                                                                        

Name:                                                                        

Title:                                                                        

--

  

  

  

SCHEDULE 1

Liens Permitted Pursuant to Sections 6.01(j) of the Loan Agreementexhibit10a.htm

INSTRUMENT OF AMENDMENT TO THE

MDU RESOURCES GROUP, INC.

401(k) RETIREMENT PLAN

The MDU Resources Group, Inc. 401(k) Retirement Plan as restated June 1, 2009 (the “Plan”), is hereby further amended, effective January 1, 2010, as follows:

	
1.

	
By replacing the table in Supplement D-1 Provisions Relating to the Profit Sharing Feature for Certain Participating Affiliates, with the following table:

	
Participating Affiliate

	
Current Effective Date

(Original Effective Date)

	
Anchorage Sand & Gravel Company, Inc. (excluding President)

	
January 1, 1999

	
Baldwin Contracting Company, Inc.

	
January 1, 1999

	
Bell Electrical Contractors, Inc.

	
January 1, 2002

	
Bitter Creek Pipelines, LLC1

	
January 1, 2001

	
Concrete, Inc.

	
January 1, 2001

	
Connolly-Pacific Co.

	
January 1, 2007

	
DSS Company2

	
January 1, 2004

(July 8, 1999)

	
E.S.I., Inc.

	
January 1, 2008

(January 1, 2003)

	
Fairbanks Materials, Inc.

	
May 1, 2008

	
Frebco, Inc.

	
January 1, 2008

(July 1, 2000)

	
Granite City Ready Mix, Inc.

	
June 1, 2002

	
Hawaiian Cement (non-union employees hired after December 31, 2005)

	
January 1, 2009

	
Jebro Incorporated

	
November 1, 2005

	
Kent’s Oil Service

	
January 1, 2007

	
KRC Aggregate, Inc.

	
January 1, 2003

	
Knife River Corporation – Northwest (the Central Oregon Division, f/k/a HTS)

	
January 1, 2010

(January 1, 1999)

  

1

  

	
Participating Affiliate

	
Current Effective Date

(Original Effective Date)

	
Knife River Corporation – Northwest (the Southern Idaho Division)

	
January 1, 2010

(January 1, 2006)

	
Knife River Corporation – Northwest (the Spokane Division)

	
January 1, 2010

(January 1, 2006)

	
Knife River Corporation - South   (f/k/a Young Contractors, Inc.)

	
January 1, 2008

(January 1, 2007)

	
LTM, Incorporated

	
January 1, 2003

	
Montana-Dakota Utilities Co. (including union employees)

	
January 1, 2008

	
Wagner Industrial Electric, Inc.

	
January 1, 2008

	
Wagner Smith Equipment Co.

	
January 1, 2008

(July 1, 2000)

	
WBI Holdings, Inc.1

	
January 1, 2009

	
WHC, Ltd.

	
September 1, 2001

	
Williston Basin Interstate Pipeline Company1

	
January 1, 2009

Explanation: This amendment recognizes that effective January 1, 2010, Hap Taylor & Sons, Inc., Knife River – Southern Idaho, and Knife River – Spokane became divisions of Knife River Corporation – Northwest with no profit sharing feature changes.

	
2.

	
By renaming Supplement D-5 Provisions Relating to the Morse Bros., Inc. Retirement Contribution Feature as Provisions Relating to the Knife River Corporation – Northwest (Western Oregon Division, f/k/a MBI) Retirement Contribution Feature and replacing Section D-5-1 Introduction of Supplement D-5, in its entirety, with the following:

D-5-1 Introduction.  Effective September 1, 2004, Morse Bros., Inc. a Participating Affiliate in the Plan, established the Retirement Contribution Feature described in this Supplement. Effective January 1, 2010, Morse Bros., Inc. will change its legal name to Knife River Corporation – Northwest (“KRC–NW”), and will continue to maintain this Retirement Contribution Feature for its Western Oregon Division employees. This Supplement does not apply to Participants employed by any other divisions of KRC-NW.

Explanation:  This amendment recognizes the legal name change for Morse Bros., Inc. to Knife River Corporation – Northwest (the Western Oregon Division, f/k/a MBI).

  

2

  

	
3.

	
By replacing Morse Bros. Inc. with Knife River Corporation – Northwest and MBI with Western Oregon Division wherever they appear throughout the Supplement D-5 and Schedule A.

Explanation:  This amendment recognizes the name change for Morse Bros., Inc. to Knife River Corporation - Northwest.

	
4.

	
Effective January 1, 2010, by replacing the following paragraph for Rogue Aggregates, Inc. on Schedule A to the Plan.

Knife River Corporation – Northwest (the Southern Oregon Division, f/k/a Rogue) shall make a matching contribution equal to one hundred percent (100%) of each Southern Oregon Division employee’s participating savings contribution, up to the Participants maximum savings contributions of ten (10%) of compensation for each pay period.

Effective April 1, 1994 and as amended January 1, 2010.

Explanation:  This amendment recognizes that effective January 1, 2009, Rogue Aggregates, Inc. became a division of Knife River Corporation – Northwest with no matching contribution change.

IN WITNESS WHEREOF, MDU Resources Group, Inc., as Sponsoring Employer of the Plan, has caused this Supplement to be duly executed by a member of the MDU Resources Group, Inc. Employee Benefits Committee on this 5th day of January, 2010.

	  	
MDU RESOURCES GROUP, INC.

	  	
   EMPLOYEE BENEFITS COMMITTEE

	  	  	  
	  	  	  
	  	
By:

	
/s/ Vernon A. Raile                           

	  	  	
Vernon A. Raile, Chairman

  

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00172-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00172-of-00352.parquet"}]]