Document:

exhibit_10-67

Exhibit 10.67

 

AMENDMENT NO. 1 TO CREDIT AGREEMENT

     THIS AMENDMENT NO. 1 TO CREDIT AGREEMENT (this “Amendment”), dated as of August 9, 2000, is entered into by and among:

  

        (1)     ADOBE SYSTEMS INCORPORATED, a Delaware corporation (“Borrower”);

        (2)     The financial institutions from time to time listed in
Schedule I to the Credit Agreement described below (such financial institutions to be referred to herein collectively as
“Lenders”); and

        (3)     ABN AMRO BANK N.V., as agent for Lenders (in such capacity,
“Administrative Agent”).

  

RECITALS

                   
A.     Borrower, Lenders and Administrative Agent are parties to a Credit Agreement dated as of August 11, 1999 (the “Credit Agreement”) providing for a multi-year revolving credit facility and a 364-day revolving
credit facility convertible into term loans.

                   
B.     The 364-day revolving credit facility provided under the Credit Agreement has expired and Borrower has requested Lenders and Administrative Agent to amend the Credit Agreement to expand the definition of “Permitted
Indebtedness” to include a new revolving credit facility convertible into term loans being provided to Borrower by separate agreement.

                   
C.     Lenders and Administrative Agent are willing so to amend the Credit Agreement upon the terms and subject to the conditions set forth below.

                   
NOW, THEREFORE, in consideration of the above recitals and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Borrower, Lenders and Administrative Agent hereby agree as follows:

                   
1.     Definitions; Interpretation. All capitalized terms defined above and elsewhere in this Amendment shall be used herein as so defined. Unless otherwise defined herein, all other capitalized terms used
herein shall have the respective meanings given to those terms in the Credit Agreement, as amended by this Amendment. The rules of construction set forth in Section I of the Credit Agreement shall, to the extent not inconsistent with the terms of this Amendment, apply to this Amendment and are hereby incorporated by reference.

1

                   
2.     Amendment to Credit Agreement. Subject to the satisfaction of the conditions set forth in Paragraph
4  below, clause (x) of Subparagraph 5.02(a) of the Credit Agreement is relettered clause (xi) and a new clause (x) is added to Subparagraph 5.02(a) as follows:

  

        “(x)     Indebtedness of Borrower under a credit agreement, dated as of August 9, 2000, among Borrower, the financial institutions from time to time parties thereto as lenders, and ABN
AMRO as administrative agent for such lenders, providing for a revolving credit facility convertible into term loans in a maximum aggregate principal amount not to exceed $100,000,000, and any initial or successive refinancings of such Indebtedness
provided that (A) the principal amount of any such refinancing does not exceed $100,000,000 and (B) the material terms and provisions of such refinancing (including maturity, prepayment and default provisions) are no less favorable to Lenders than the
Indebtedness being refinanced; and”

  

                   
3.     Representations and Warranties. Borrower hereby represents and warrants to
Administrative Agent and Lenders that the following are true and correct on the date of this Amendment and, after giving effect to the amendment set forth in Paragraph
2  above, the following will be true and correct on the Effective Date (as defined below):

  

        (a)     The representations and warranties of Borrower set forth in Paragraph 4.01 of the Credit Agreement and in the other Credit Documents are true and correct in all material
respects as if made on such date (except for representations and warranties expressly made as of a specified date, which are true and correct as of such date); and

        (b)     No Default has occurred and is continuing.

  

(Without limiting the scope of the term “Credit Documents,” Borrower expressly acknowledges in making the representations and warranties set forth in this Paragraph
3  that, on and after the Effective Date hereof, such term includes this Amendment.)

                   
4.     Effective Date. The amendment effected by Paragraph
2  above shall become effective on August 9, 2000 (the “Effective Date”), subject to receipt by Administrative Agent on or prior to the Effective Date of the following, each in form and substance satisfactory to Administrative and
its respective counsel:

  

        (a)     This Amendment duly executed by Borrower, Required Lenders and Administrative Agent; and

    
        (b)     Such other evidence as Administrative Agent may reasonably request to establish the accuracy and
    completeness of the representations and warranties and compliance with the terms and conditions contained in this Amendment and the
    other Credit Documents.

  

                   
5.     Effect of this Amendment. On and after the Effective Date, each reference in the Credit Agreement and the other Credit Documents to the Credit Agreement shall mean the Credit

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Agreement as amended hereby. Except as specifically amended above, (a) the Credit Agreement and the other Credit Documents shall remain in full force and effect and are hereby ratified and affirmed and (b) the execution, delivery and effectiveness of
this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power, or remedy of Lenders or Administrative Agent, nor constitute a waiver of any provision of the Credit Agreement or any other Credit Document.

                   
6.     Miscellaneous.

  
    
        (a)     Counterparts. This Amendment may be executed in any number of identical counterparts, any set of
    which signed by all the parties hereto shall be deemed to constitute a complete, executed original for all
    purposes.

        (b)     Headings. Headings in this Amendment are for convenience of reference only and are not part of the substance hereof.

    
        (c)     Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of California without reference to conflicts of law rules.

  

[The first signature page follows.]

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     IN WITNESS WHEREOF, Borrower, Administrative Agent and Lenders have caused this Amendment to be executed as of the day and year first above written.

	BORROWER:	ADOBE SYSTEMS INCORPORATED
	 	 	 
	 	 	 
		By:	/s/ MURRAY
      J. DEMO
			
    

   
	 	 	Name:	 Murray J.
      Demo
				
    

   
			Title:	
      Sr. Vice President, CFO
				
    

   
	 	 	 	
		By:	/s/ JOHN
      E. WARNOCK
			
    

   
			Name:	 John E.
      Warnock
				
    

   
			Title:	
      Chairman, CEO
				
    

   
	  	 
	 	
	ADMINISTRATIVE	
	AGENT:	ABN AMRO BANK N.V.
		 	 
	 	 	 
		By:	 /s/ JAMIE
      DILLON
			
    

  
		 	Name:	 Jamie Dillon
				
    

  
			Title:	Senior Vice President
				
    

  
	 			
		By:	/s/ NIA
      MILLER
			
    

  
			Name:	 Nia Miller
				
    

  
			Title:	
      Vice President
				
    

  
	 			
	  			
	LENDERS:	ABN AMRO BANK N.V.
	 		
	 		
		By:	 /s/ JAMIE
      DILLON
			
    

  
			Name:	 Jamie Dillon
				
    

  
			Title:	Senior Vice President
				
    

  
	 			
		By:	/s/ NIA
      MILLER
			
    

  
			Name:	 Nia Miller
				
    

  
			Title:	
      Vice President
				
    

  

 

S-1

		BANK OF AMERICA, N.A.
	 		
	 		
		By:	/s/ JOUNI
      KORHONEN
			
    

  
			Name:	 Jouni Korhonen
				
    

  
			Title:	
      Managing Director
				
    

  

	 	
	 	
		BANK HAPOALIM B.M.
	 		
			
		By:	
      /s/ LEWROY HACKETT
			
    

  
			Name:	
      Lewroy Hackett
				
    

  
			Title:	
      Vice President
				
    

  

	 	
	 	
		BANK OF MONTREAL
	 		
	 		
		By:	/s/ KANU
      MODI
			
    

  
			Name:	 Kanu Modi
				
    

  
			Title:	
      Director
				
    

  

	 	
	 	
		BANK ONE, N.A.
	 		
	 		
		By:	/s/ STEPHANIE A. MACK
			
    

  
			Name:	Stephanie A. Mack
				
    

  
			Title:	Commercial Banking Officer
				
    

  
	  			

	 	
		BNP PARIBAS
	 		
	 		
		By:	/s/ C. BETTLES                                
                
    /s/ TJALLING TERPSTRA
			
    

  
			Name:	 C. Bettles                                     
    
    Tjalling Terpstra
				
    

  
			Title:	Sr. Vice President                            
    Vice President
				
    

  

 
S-2

		FIRST UNION NATIONAL BANK
	 		
	 		
		By:	/s/ JORGE A. GONZALEZ
			
    

  
			Name:	Jorge A. Gonzalez
				
    

  
			Title:	Senior Vice President
				
    

  
	 	
	 	
		FLEET NATIONAL BANK
	 		
	 		
		By:	/s/ WILLIAM S. ROWE
			
    

  
			Name:	Williams S. Rowe
				
    

  
			Title:	Assistant Vice President
				
    

  
	 	
	 	
		THE INDUSTRIAL BANK OF JAPAN,
		LIMITED
	  		
	  		
		By:	/s/ YOSHIHIKO SUGITA
			
    

  
			Name:	Yoshihiko Sugita
				
    

  
			Title:	Senior Vice President & Deputy
				
    General Manager
  
	 			
    

   
	 			
		KEYBANK NATIONAL ASSOCIATION
	  		
	  		
		By:	/s/ JIM PUTNAM
			
    

  
			Name:	Jim Putnam
				
    

  
			Title:	Vice President / Sr. Portfolio Manager
				
    

  
	 			
	 	
		MELLON BANK, N.A.
	  		
	  		
		By:	/s/ LAWRENCE C. IVEY
			
    

  
			Name:	Lawrence C. Ivey
				
    

  
			Title:	Vice President
				
    

  

S-3

 

		THE NORTHERN TRUST COMPANY
	 		
	 		
		By:	/s/ ASHISH S. BHAGWAT
			
    

  
			Name:	Ashish S. Bhagwat
				
    

  
			Title:	Senior Vice President
				
    

  
	 	
	 	
		THE ROYAL BANK OF SCOTLAND PLC
	 		
	 		
		By:	/s/ KAREN L. STEFANCIO
			
    

  
			Name:	Karen L. Stefancio
				
    

  
			Title:	Vice President
				
    

  
	 	
	 	
		THE SUMITOMO BANK, LIMITED
	 		
	 		
		By:	/s/ AZAR SHAKERI
			
    

  
			Name:	Azar Shakeri
				
    

  
			Title:	Vice President and Manager
				
    

  
	 			
	 	
		UBS AG
		Stamford Branch
	 		
	 		
		By:	/s/ ROBERT H. RILEY
    III
			
    

  
			Name:	Robert H. Riley III
				
    

  
			Title:	Executive Director
				
    

  
			 
		By:	/s/ WILFRED SAINT
			
    

  
			Name:	Wilfred Saint
				
    

  
			Title:	Associate Director
				
    Loan Portfolio Support, US
  
				
    

  

S-4ex10-68

Exhibit 10.68

 

AMENDMENT NO. 2 TO AMENDED, RESTATED AND CONSOLIDATED

MASTER LEASE OF LAND AND IMPROVEMENTS

    
         THIS AMENDMENT NO. 2 TO AMENDED, RESTATED AND CONSOLIDATED MASTER LEASE OF LAND AND IMPROVEMENTS (this “Amendment”), dated as of August 9, 2000, is entered into by and between: 

    
                  
    (1)     ADOBE SYSTEMS INCORPORATED, a Delaware corporation (“Tenant”); and 

    
                  
    (2)     SUMITOMO BANK LEASING AND FINANCE, INC., a Delaware corporation (“Landlord”).

RECITALS

    
         A.     Tenant and Landlord are parties to that certain Amended, Restated and
    Consolidated Master Lease of Land and Improvements, dated as of August 11, 1999, as amended by Amendment No. 1 dated as of October 8, 1999 (the “Lease”).

    
         B.     In connection with the Lease, Landlord entered into a Participation Agreement, dated as of August 11, 1999, with Tenant, certain financial institutions from time to time parties thereto (the “
Rent Purchasers”) and ABN AMRO Bank N.V., as agent for the Rent Purchasers (in such capacity, “Administrative Agent”), and a Rent Purchase Agreement, dated as of August 11, 1999, with the Rent Purchasers and Administrative Agent, pursuant to
which the Rent Purchasers purchased an interest in the Lease from Landlord.

     C.     Tenant has requested that the indebtedness covenant in the Lease be amended and Landlord is willing so to amend the Lease upon the terms and subject to the conditions set forth in this Amendment. 

AGREEMENT

    
         NOW, THEREFORE, in consideration of the above recitals and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Tenant and Landlord hereby agree as follows: 

    
          	1.      Definitions, Interpretation.
    All capitalized terms defined above and elsewhere in this Amendment shall be used herein as so defined. Unless otherwise defined herein, all other capitalized terms used herein shall have the respective meanings given to those terms Appendix
    A  to the Lease. The rules of construction set forth in Appendix A to the Lease shall, to the extent not inconsistent with the terms of this Amendment, apply to this Amendment and are hereby incorporated by reference.

    
         2.      Amendment to Lease.
Subject to the satisfaction of the conditions set forth in Paragraph 4
below, the Lease is hereby amended as follows:

              (a)    
Clause (iii) of Section 7.1(b) of the Lease is
amended and restated in its entirety as follows:
    

                      
(iii)     The
    initial and each subsequent Rental Period selected by Tenant for each
    Portion shall be one (1),

              two (2), three (3), six (6), nine (9) or twelve
    months; provided, however, that (A) no Rental Period shall end

              after
the Expiration Date; (B) no Rental Period shall be longer than one (1)
    month if a Default has occurred and

              is
continuing at the time the Notice of
    Rental Period Selection is required to be delivered in accordance with

              this 
Section 7.1(b); and (C) each Rental Period for which Tenant fails to make a selection by
    delivering a

              Notice of
Rental Period Selection in accordance with Section 7.1(b) shall
    be one (1) month.

              (b)    
Clause (x) of Section 21.21(a) of the Lease is
relettered clause (xi) and a new clause (x) is added to

    
Section
21.21(a) as follows:

                      
“(x)     Indebtedness of Tenant under a credit agreement, dated as of August 9, 2000,
    among Tenant, the

              financial institutions from time to time parties thereto
    as lenders, and ABN AMRO Bank N.V. as administrative 

              agent for such lenders,
    providing for a revolving credit facility convertible into term loans in a
    maximum 

              aggregate principal amount not to exceed $100,000,000, and any
    initial or successive refinancings of such 

              Indebtedness provided that (A)
    the principal amount of any such refinancing does not exceed $100,000,000

              and
 (B) the material terms and provisions of such refinancing (including
    maturity, prepayment and default 

              provisions) are no less favorable to
    Landlord, the Rent Purchasers and Administrative Agent than the

              
Indebtedness
    being refinanced; and”

              (c)     Item 1 of Exhibit F to the Lease is amended
and restated in its entirety as follows:

              
“1.     Credit Agreement, dated as of August 11, 1999, among Tenant, as Borrower, certain financial institutions

                  
     from
time to time parties
      thereto, as Lenders, and ABN AMRO Bank N.V., as Administrative Agent,

                  
     providing credit facilities in the aggregate principal amount of $100,000,000”

    
         3.      Representations
and Warranties.
Tenant hereby represents and warrants to Landlord, the Rent Purchasers and
Administrative Agent that the following are true and correct on the date of this
Amendment and that, after giving effect to the amendments set forth in Paragraph 2
above, the following will be true and correct on the Effective Date (as defined
below):   

2

              (a)    
The representations and warranties of Tenant set
forth in Section 21.18 of the Lease and in the other Operative Documents
are true and correct in all material respects as if made on such date (except
for representations  and warranties expressly made as of a specified date, which
shall be true as of such date); and

              (b)    
No Default has occurred and is continuing.

(Without limiting the scope of the term “Operative Documents,” Tenant
expressly acknowledges in making the representations and warranties set forth in
this Paragraph 3 that, on and after the date hereof, such term includes
this Amendment.)

         4.      Effective
Date.
The amendments effected by Paragraph 2 above shall become effective
on August 9, 2000 (the “Effective Date”), subject to receipt by
Landlord and Administrative Agent on or prior to the Effective Date of the
following, each in form and substance satisfactory to Landlord and
Administrative Agent and their respective counsel:

              (a)    
The Consent to Amendment duly executed by Majority
Rent Purchasers;

             
(b)     This Amendment duly executed by Tenant and Landlord;
and

             
(c)     Such other evidence as Landlord or Administrative
Agent may reasonably request to establish the accuracy and completeness in all
material respects of the representations and warranties and the compliance with
the terms and conditions contained in this Amendment and the other Operative
Documents.

     5.       Effect of
this Amendment.
On and after the Effective Date, each reference in the Lease and the other
Operative Documents to the Lease shall mean the Lease as amended hereby. Except
as specifically amended above, (a) the Lease and the other Operative Documents
shall remain in full force and effect and are hereby ratified and affirmed and
(b) the execution, delivery and effectiveness of this Amendment shall not,
except as expressly provided herein, operate as a waiver of any right, power, or
remedy of Landlord, the Rent Purchasers or Administrative Agent, nor constitute
a waiver of any provision of the Lease or any other Operative Document.

     6.       Miscellaneous.

              (a)    
Counterparts. This Amendment may be executed
in any number of identical counterparts, any set of which signed by all the
parties hereto shall be deemed to constitute a complete, executed original for
all purposes.

             
(b)     Headings. Headings in this Amendment are for
convenience of reference only and are not part of the  substance hereof.

             (c)    
Governing Law. This Amendment shall be
governed by and construed in accordance with the laws of the State of California
without reference to conflicts of law rules.

[Signature pages follow]

3

    
         IN WITNESS WHEREOF, Tenant and Landlord have caused this Amendment to be
    executed as of the day and year first above written.

     

	TENANT:	 	ADOBE SYSTEMS INCORPORATED
	 				
	 				
			By:	/s/ MURRAY
    J. DEMO
				
    

   
				Name:	Murray J. Demo
					
    

   
				Title:	Sr. Vice President & CFO
					
    

   

     

	LANDLORD:	 	SUMITOMO BANK LEASING AND
    FINANCE, INC.
	 				
	 				
			By:	/s/ WILLIAM
    M. GINN
				
    

   
				Name:	William M. Ginn
					
    

   
				Title:	Chairman and CEO
					
    

   

 

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