Document:

exv10w1

 

Exhibit 10.1

THIRD AMENDMENT TO CREDIT AGREEMENT

     THIS THIRD AMENDMENT TO CREDIT AGREEMENT, dated as of July 31, 2007 (this “Amendment”), is
among Perrigo Company (the “U.S. Borrower”), the Foreign Subsidiary Borrowers party hereto, the
Lenders party hereto, JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders (in such
capacity, the “Administrative Agent”), Bank Leumi USA, as Syndication Agent, and Bank of America,
N.A., LaSalle Bank Midwest National Association, formerly known as Standard Federal Bank, N.A. and
National City Bank of the Midwest, as Documentation Agents.

R E C I T A L

     The Borrowers, the Lenders, the Administrative Agent, the Syndication Agent and the
Documentation Agents are parties to a Credit Agreement dated as of March 16, 2005, as amended (the
“Credit Agreement”). The Borrowers desire to amend the Credit Agreement as set forth herein and
the Lenders are willing to do so in accordance with the terms hereof.

T E R M S

     In consideration of the premises and of the mutual agreements herein contained, the parties
agree as follows:

ARTICLE 1.

AMENDMENTS.

     The Credit Agreement is amended as follows:

     1.1 The final paragraph of Section 6.01 is restated as follows:

Notwithstanding the foregoing, the aggregate amount of all Indebtedness of all Material
Non-Guarantor Subsidiaries, other than Indebtedness permitted under Section 6.01(a), (b), (d) or
(e) above, shall not exceed $75,000,000.

     1.2 Section 6.04(d) is restated as follows:

          (d) Investments, loans or advances made by (i) the U.S. Borrower or any Subsidiary to the U.S.
Borrower or any Domestic Subsidiary that is a Guarantor or (ii) any Foreign Subsidiary that is not
a Guarantor to any Subsidiary;

     1.3 Section 6.04(g) is restated as follows:

          (g) Guarantees, investments, loans or advances not otherwise permitted by this Section 6.04
not in excess of ten percent (10%) of Consolidated Total Assets in the aggregate; provided that the
aggregate amount of such Guarantees of, and investments, loans or advances to, Subsidiaries that
are not Guarantors shall not exceed $75,000,000 in aggregate outstanding amount (exclusive of
investments, loans or advances to Subsidiaries under Section 6.04(d)(ii)).

 

 

ARTICLE 2.

REPRESENTATIONS.

     Each Borrower represents and warrants to the Lenders and Administrative Agent that:

     2.1 The execution, delivery and performance of this Amendment are within its powers and have
been duly authorized by it. This Amendment is the legal, valid and binding obligation of it,
enforceable against it in accordance with the terms thereof.

     2.2 After giving effect to the amendments and waiver herein contained, the representations and
warranties contained in the Credit Agreement and the representations and warranties contained in
the other Loan Documents are true in all material respects on and as of the date hereof with the
same force and effect as if made on and as of the date hereof, and no Default or Event of Default
exists or has occurred and is continuing on the date hereof.

ARTICLE 3.

CONDITIONS PRECEDENT.

     This Amendment shall be effective as of the date hereof when it shall be executed by the
Borrowers, the Required Lenders, the Administrative Agent and the Syndication Agent and the Consent
and Agreement attached hereto is signed by the Guarantors.

ARTICLE 4.

MISCELLANEOUS.

     4.1 References in the Credit Agreement or in any other Loan Document to the Credit Agreement
shall be deemed to be references to the Credit Agreement as amended hereby and as further amended
from time to time.

     4.2 Except as expressly amended hereby, each Borrower agrees that the Loan Documents are
ratified and confirmed and shall remain in full force and effect and that it has no set off,
counterclaim, defense or other claim or dispute with respect to any of the foregoing. The terms
used but not defined herein shall have the respective meanings ascribed thereto in the Credit
Agreement.

     4.3 This Amendment may be signed upon any number of counterparts with the same effect as if
the signatures thereto and hereto were upon the same instrument, and telecopied signatures shall be
enforceable as originals.

[Signatures on the following pages]

 

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their
respective authorized officers as of the day and year first above written.

	 	 	 	 	 
	 	PERRIGO COMPANY

 	 
	 	By:  	/s/  James R. Ondersma
 	 
	 	 	Name:  	James R. Ondesma 	 
	 	 	Title:  	Treasurer 	 
	 
	 	AGIS INDUSTRIES (1983) LTD.

 	 
	 	By:  	/s/  Judy L. Brown
 	 
	 	 	Name:  	Judy L. Brown 	 
	 	 	Title:  	Director 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as a Lender and as

Administrative Agent

 	 
	 	By:  	/s/ Thomas A. Gamm
 	 
	 	 	Name:  	Thomas A. Gamm 	 
	 	 	Title:  	Senior Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BANK LEUMI USA, as a Lender and as Syndication Agent

 	 
	 	By:  	/s/  Dr. Avram Keusch
 	 
	 	 	Name:  	Dr. Avram Keusch 	 
	 	 	Title:  	Vice President 	 
	 
	 	 	 
	 	By:  	                                              /s/  Yuval Talmy
 	 
	 	 	Name:  	Yuval Talmy 	 
	 	 	Title:  	First Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as a Lender and as Documentation Agent

 	 
	 	By:  	/s/   Zubin R. Shroff
 	 
	 	 	Name:  	Zubin R. Shroff 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	LASALLE BANK MIDWEST NATIONAL
ASSOCIATION, formerly known as Standard Federal Bank N.A., as a Lender and as Documentation Agent

 	 
	 	By:  	/s/ David W. Edwards
 	 
	 	 	Name:  	David W. Edwards 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	NATIONAL CITY BANK, AS SUCCESSOR BY
MERGER TO NATIONAL CITY BANK OF THE MIDWEST, as a Lender and as
Documentation Agent  

	 
	 	By:  	/s/  Timothy B. Bennett
 	 
	 	 	Name:  	Timothy B. Bennett 	 
	 	 	Title:  	Senior Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	FIFTH THIRD BANK

 	 
	 	By:  	/s/  Randal Wolffis
 	 
	 	 	Name:  	Randal Wolffis 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND

 	 
	 	By:  	/s/  Ciaran Doyle
 	 
	 	 	Name:  	Ciaran Doyle 	 
	 	 	Title:  	Authorised Signature 	 
	 
	 	 	 
	 	By:  	                                              /s/  Carla Ryan
 	 
	 	 	Name:  	Carla Ryan 	 
	 	 	Title:  	Authorised Signature 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	COMERICA BANK

 	 
	 	By:  	/s/ Catherine M. Young
 	 
	 	 	Name:  	Catherine M. Young 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	THE NORTHERN TRUST COMPANY

 	 
	 	By:  	/s/  Mark E. Taylor
 	 
	 	 	Name:  	Mark E. Taylor 	 
	 	 	Title:  	Senior Vice President 	 

 

 

	 	 	 	 	 

CONSENT AND AGREEMENT

     As of the date and year first above written, each of the undersigned hereby: (a) fully
consents to the terms and provisions of the above Amendment and the consummation of the
transactions contemplated thereby; (b) agrees that the Guaranty to which it is a party and each
other Loan Document to which it is a party are hereby ratified and confirmed and shall remain in
full force and effect, acknowledges and agrees that it has no setoff, counterclaim, defense or
other claim or dispute with respect the Guaranty to which it is a party and each other Loan
Document to which it is a party; and (c) represents and warrants to the Administrative Agent and
the Lenders that the execution, delivery and performance of this Consent and Agreement are within
its powers, have been duly authorized and are not in contravention of any statute, law or
regulation or of any terms of its organizational documents or of any material agreement or
undertaking to which it is a party or by which it is bound, and this Consent and Agreement is the
legal, valid and binding obligations of it, enforceable against it in accordance with the terms
hereof and thereof. Terms used but not defined herein shall have the respective meanings ascribed
thereto in the Credit Agreement.

	 	 	 	 	 
	 	L. PERRIGO COMPANY

 	 
	 	By:  	/s/ James R. Ondersma
 	 
	 	 	Name:  	James R. Ondersma 	 
	 	 	Title:  	Treasurer 	 
	 
	 	PERRIGO COMPANY OF SOUTH CAROLINA, INC.

 	 
	 	By:  	/s/ James R. Ondersma
 	 
	 	 	Name:  	James R. Ondersma 	 
	 	 	Title:  	Treasurer 	 
	 
	 	PERRIGO PHARMACEUTICALS COMPANY

 	 
	 	By:  	/s/ James R. Ondersma
 	 
	 	 	Name:  	James R. Ondersma 	 
	 	 	Title:  	Treasurer 	 
	 
	 	PERRIGO INTERNATIONAL, INC.

 	 
	 	By:  	/s/ James R. Ondersma
 	 
	 	 	Name:  	James R. Ondersma 	 
	 	 	Title:  	Treasurer 	 
	 
	 	PERRIGO INTERNATIONAL HOLDINGS, INC.

 	 
	 	By:  	/s/ James R. Ondersma
 	 
	 	 	Name:  	James R. Ondersma 	 
	 	 	Title:  	Treasurerexv10w2

 

	 	 	 	 	 

Exhibit 10.2

FOURTH AMENDMENT TO CREDIT AGREEMENT

     THIS FOURTH AMENDMENT TO CREDIT AGREEMENT, dated as of January 8, 2008 (this “Amendment”), is
among Perrigo Company (the “U.S. Borrower”), the Foreign Subsidiary Borrowers party hereto, the
Lenders party hereto, JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders (in such
capacity, the “Administrative Agent”), Bank Leumi USA, as Syndication Agent, and Bank of America,
N.A., LaSalle Bank Midwest National Association, formerly known as Standard Federal Bank, N.A. and
National City Bank of the Midwest, as Documentation Agents.

     The Borrowers, the Lenders, the Administrative Agent, the Syndication Agent and the
Documentation Agents are parties to a Credit Agreement dated as of March 16, 2005, as amended (the
“Credit Agreement”). The Borrowers desire to amend the Credit Agreement as set forth herein and
the Lenders are willing to do so in accordance with the terms hereof.

     In consideration of the premises and of the mutual agreements herein contained, the parties
agree as follows:

     1. Section 6.04(g) of the Credit Agreement is restated as follows:

          (g) Guarantees, investments, loans or advances not otherwise permitted by this Section 6.04
not in excess of ten percent (10%) of Consolidated Total Assets in the aggregate; provided that the
aggregate outstanding amount (exclusive of investments, loans or advances to Subsidiaries under
Section 6.04(d)(ii)) of such Guarantees of, and investments, loans or advances to, Subsidiaries
that are not Guarantors shall not exceed (i) $95,000,000 at any time prior to June 30, 2008 or (ii)
$75,000,000 at any time on or after June 30, 2008.

     2. Each Borrower represents and warrants to the Lenders and Administrative Agent that: (a)
this Amendment is the legal, valid and binding obligation of it, enforceable against it in
accordance with the terms thereof and (b) the representations and warranties contained in the
Credit Agreement and the other Loan Documents are true in all material respects on and as of the
date hereof with the same force and effect as if made on and as of the date hereof, and no Default
or Event of Default exists or has occurred and is continuing on the date hereof.

     3. References in the Credit Agreement or in any other Loan Document to the Credit Agreement
shall be deemed to be references to the Credit Agreement as amended hereby and as further amended
from time to time. Except as expressly amended hereby, each Borrower agrees that the Loan
Documents are ratified and confirmed and shall remain in full force and effect and that it has no
set off, counterclaim, defense or other claim or dispute with respect to any of the foregoing. The
terms used but not defined herein shall have the respective meanings ascribed thereto in the Credit
Agreement

     4. This Amendment shall be effective as of the date hereof when it shall be executed by the
Borrowers, the Required Lenders, the Administrative Agent and the Syndication Agent and the Consent
and Agreement attached hereto is signed by the Guarantors. This Amendment may be signed upon any
number of counterparts with the same effect as if the signatures thereto and hereto were upon the
same instrument, and telecopied signatures sent by telecopy or electronic mail message shall be
enforceable as originals.

 

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their
respective authorized officers as of the day and year first above written.

	 	 	 	 	 
	 	PERRIGO COMPANY

 	 
	 	By:  	/s/ James R. Ondersma
 	 
	 	 	Name:  	James R. Ondersma 	 
	 	 	Title:  	Treasurer 	 
	 
	 	AGIS INDUSTRIES (1983) LTD.

 	 
	 	By:  	/s/  Judy L. Brown
 	 
	 	 	Name:  	Judy L. Brown 	 
	 	 	Title:  	Director 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as a Lender and as

Administrative Agent

 	 
	 	By:  	/s/ Thomas A. Gamm
 	 
	 	 	Name:  	Thomas A. Gamm 	 
	 	 	Title:  	Senior Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BANK LEUMI USA, as a Lender and as Syndication Agent

 	 
	 	By:  	/s/  Dr. Avram Keusch
 	 
	 	 	Name:  	Dr. Avram Keusch 	 
	 	 	Title:  	Vice President 	 
	 
	 	 	 
	 	By:  	                                              /s/  Michala Klein, 212
 	 
	 	 	Name:  	Michala Klein, 212 	 
	 	 	Title:  	Senior Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as a Lender and as Documentation Agent

 	 
	 	By:  	/s/ Zubin R. Shroff
 	 
	 	 	Name:  	Zubin R. Shroff 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	LASALLE BANK MIDWEST NATIONAL
ASSOCIATION, formerly known as Standard Federal Bank N.A., as a
Lender and as Documentation Agent

 	 
	 	By:  	/s/  Christopher Rushton
 	 
	 	 	Name:  	Christopher Rushton 	 
	 	 	Title:  	First vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	NATIONAL CITY BANK (together with all entities which were merged into, or whose name was changed to National City Bank or a predecessor thereof, including but not limited to National City Bank of the Midwest and
National City Bank of Michigan/Illinois, a national banking association

 	 
	 	By:  	/s/ Arthur F. Gray
 	 
	 	 	Name:  	Arthur F. Gray 	 
	 	 	Title:  	Senior vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	FIFTH THIRD BANK

 	 
	 	By:  	/s/  Brian Jelinski
 	 
	 	 	Name:  	Brian Jelinski 	 
	 	 	Title:  	Portfolio Manager 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND

 	 
	 	By:  	/s/ Jennifer Lyons
 	 
	 	 	Name:  	Jennifer Lyons 	 
	 	 	Title:  	Authorised Signatory 	 
	 
	 	 	 
	 	By:  	                                              /s/ Elaine Crowley
 	 
	 	 	Name:  	Elaine Crowley 	 
	 	 	Title:  	Authorised Signatory 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	COMERICA BANK

 	 
	 	By:  	/s/  Catherine M. Young
 	 
	 	 	Name:  	Catherine M. Young 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	THE NORTHERN TRUST COMPANY

 	 
	 	By:  	/s/  Rebecca H. Pasquesi
 	 
	 	 	Name:  	Rebecca H. Pasquesi 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

CONSENT AND AGREEMENT

     As of the date and year first above written, each of the undersigned hereby: (a) fully
consents to the terms and provisions of the above Amendment and the consummation of the
transactions contemplated thereby; (b) agrees that the Guaranty to which it is a party and each
other Loan Document to which it is a party are hereby ratified and confirmed and shall remain in
full force and effect, acknowledges and agrees that it has no setoff, counterclaim, defense or
other claim or dispute with respect the Guaranty to which it is a party and each other Loan
Document to which it is a party; and (c) represents and warrants to the Administrative Agent and
the Lenders that the execution, delivery and performance of this Consent and Agreement are within
its powers, have been duly authorized and are not in contravention of any statute, law or
regulation or of any terms of its organizational documents or of any material agreement or
undertaking to which it is a party or by which it is bound, and this Consent and Agreement is the
legal, valid and binding obligations of it, enforceable against it in accordance with the terms
hereof and thereof. Terms used but not defined herein shall have the respective meanings ascribed
thereto in the Credit Agreement.

	 	 	 	 	 
	 	L. PERRIGO COMPANY

 	 
	 	By:  	/s/  James R. Ondersma
 	 
	 	 	Name:  	James R. Ondersma 	 
	 	 	Title:  	Treasurer 	 
	 
	 	PERRIGO COMPANY OF SOUTH CAROLINA, INC.

 	 
	 	By:  	/s/  James R. Ondersma
 	 
	 	 	Name:  	James R. Ondersma 	 
	 	 	Title:  	Treasurer 	 
	 
	 	PERRIGO PHARMACEUTICALS COMPANY

 	 
	 	By:  	/s/  James R. Ondersma
 	 
	 	 	Name:  	James R. Ondersma 	 
	 	 	Title:  	Treasurer 	 
	 
	 	PERRIGO INTERNATIONAL, INC.

 	 
	 	By:  	/s/  James R. Ondersma
 	 
	 	 	Name:  	James R. Ondersma 	 
	 	 	Title:  	Treasurer 	 
	 
	 	PERRIGO INTERNATIONAL HOLDINGS, INC.

 	 
	 	By:  	/s/  James R. Ondersma
 	 
	 	 	Name:  	James R. Ondersma 	 
	 	 	Title:  	Treasurer

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