Document:

Second Amendment to Credit Agreement dated March 15, 2006

 Exhibit 4(b)(2) 
 SECOND AMENDMENT TO CREDIT AGREEMENT 
 THIS SECOND AMENDMENT TO CREDIT AGREEMENT (this
“Amendment”), dated as of March 15, 2006, is executed by and among BANK OF AMERICA, N.A., in its capacity as administrative agent for the Lenders under the Credit Agreement referred to below (the “Agent”) and
individually as a Lender, IMPERIAL SUGAR COMPANY, a Texas corporation (the “Parent” and one of the Borrowers), and the other Borrowers and Obligated Parties which are signatories hereto below. 
 R E C I T A L S: 
 A. The Parent and certain of its Subsidiaries, as Borrowers, and Bank of America, N.A., as the Agent and a Lender, are parties to that certain Amended and Restated Credit Agreement dated as of December 1, 2004
(as amended by that certain Omnibus Amendment dated effective as of January 1, 2006 among the Obligated Parties, the Agent, and Bank of America, N.A. as the sole Lender and as further amended or modified from time to time, the “Credit
Agreement”) pursuant to which, among other things, the Lender has made a revolving credit facility available to the Borrowers. 
 B.
The parties hereto now desire to amend the Credit Agreement to reduce the Maximum Revolver Amount. 
 NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1.
Definitions. Capitalized terms used but not defined in this Amendment shall have the meanings therefor set forth in the Credit Agreement. 
 2. Amendment to Annex A to the Credit Agreement. The definition of the term “Maximum Revolver Amount” contained in Annex A to the Credit Agreement is hereby amended to read in its entirety as follows: 
 “Maximum Revolver Amount” means $100,000,000. 
 3. Ratifications. The terms and provisions set forth in this Amendment shall modify and supersede all inconsistent terms and provisions set forth in the Credit Agreement and, except as expressly modified and
superseded by this Amendment, the terms and provisions of the Credit Agreement and the Loan Documents are ratified and confirmed and shall continue in full force and effect. Each of the Obligated Parties, the Agent, and Lenders agrees that the
Credit Agreement as amended hereby and the Loan Documents shall continue to be legal, valid, binding, and enforceable in accordance with their respective terms. 
 4. Representations and Warranties. Each Obligated Party hereby represents and warrants to Agent and Lenders that, as of the date of and after giving effect to this Amendment, (a) the execution, delivery,
and performance of this Amendment have been authorized by all requisite action on the part of such Obligated Party and will not violate such Obligated Party’s organizational or governing documents, (b) after giving effect to this
Amendment, the representations and warranties contained in the Credit Agreement and in the Loan Documents are correct in all material respects on and as of the date hereof except for such representations and warranties limited by their terms to a
specific date, and (c) after giving effect to this Amendment, no Default or Event of Default exists. 
 5. Survival of
Representations and Warranties. All representations and warranties of the Obligated Parties made in this Amendment, the Credit Agreement, or any other Loan Document shall survive the execution and delivery of this Amendment, and no investigation
by Agent or any Lender, or 

  

 SECOND AMENDMENT TO CREDIT AGREEMENT – Page 1 

 
any closing, shall affect the representations and warranties or the right of Agent and Lenders to rely upon them. 
 6. Reference to Credit Agreement. The Credit Agreement and each of the Loan Documents, and any and all other agreements, documents, or instruments
now or hereafter executed and delivered pursuant to the terms hereof or pursuant to the terms of the Credit Agreement as amended hereby, are hereby amended so that any reference in such agreements, documents, and instruments, whether direct or
indirect, shall mean a reference to the Credit Agreement as amended hereby. 
 7. Severability. Any provision of this Amendment held
by a court of competent jurisdiction to be invalid or unenforceable shall not impair or invalidate the remainder of this Amendment, and the effect thereof shall be confined to the provision so held to be invalid or unenforceable. 
 8. Effect of Amendment. The effect of any waiver contained in the Credit Agreement as amended is expressly limited as provided therein, and, in
order to induce Agent and Lenders to agree to any such waiver, each of the Obligated Parties agrees that such waiver shall not constitute or be deemed a waiver of any other Default or Event of Default, now existing or hereafter arising, or a waiver
of any rights or remedies arising as a result of any such other Default or Event of Default. No consent or waiver, express or implied, by Agent or any Lender to or for any breach of or deviation from any covenant, condition, or duty by any Obligated
Party shall be deemed a consent or waiver to or of any other breach of the same or any other covenant, condition, or duty. 
 9.
GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS (WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES) AND APPLICABLE LAWS OF THE U.S. 
 10. Counterparts. This Amendment may be executed in any number of counterparts, all of which when taken together shall constitute one agreement,
and any of the parties hereto may execute this Amendment by signing any such counterpart. 
 11. Successors and Assigns. This
Amendment shall inure to the benefit of the Agent and the Lenders and their respective successors and assigns and is binding upon the Borrowers and the other Obligated Parties and their successors and assigns; provided, however, that
none of the Borrowers or other Obligated Parties may assign or transfer any of its obligations hereunder without the prior written consent of the Agent and the Lenders. 
 12. Headings. The headings, captions and arrangements used in this Amendment are for convenience only and shall not affect the interpretation of this Amendment. 
 13. Entire Agreement. THIS AMENDMENT AND ALL OTHER INSTRUMENTS, DOCUMENTS, AND AGREEMENTS EXECUTED AND DELIVERED IN CONNECTION WITH THIS AMENDMENT
EMBODY THE FINAL, ENTIRE AGREEMENT AMONG THE PARTIES HERETO WITH RESPECT TO THE SUBJECT MATTER OF THIS AMENDMENT AND SUPERSEDE ANY AND ALL PRIOR COMMITMENTS, AGREEMENTS, REPRESENTATIONS, AND UNDERSTANDINGS, WHETHER WRITTEN OR ORAL, RELATING TO THIS
AMENDMENT, AND MAY NOT BE CONTRADICTED OR VARIED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE PARTIES HERETO. THERE ARE NO ORAL AGREEMENTS AMONG THE PARTIES HERETO. 
  

 SECOND AMENDMENT TO CREDIT AGREEMENT – Page 2 

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

			
	IMPERIAL SUGAR COMPANY
		
	By:	 	 /s/ H. P. Mechler

	 Name:
	 	 H. P. Mechler

	 Title:
	 	Senior Vice President and Chief Financial Officer

  

			
	 FORT BEND UTILITIES COMPANY

		
	By:	 	 /s/ William F. Schwer

	 Name:
	 	 William F. Schwer

	 Title:
	 	President

  

			
	 HOLLY FINANCE COMPANY

		
	By:	 	 /s/ William F. Schwer

	 Name:
	 	 William F. Schwer

	 Title:
	 	Senior Vice President

  

			
	IMPERIAL DISTRIBUTING, INC.
		
	By:	 	 /s/ William F. Schwer

	 Name:
	 	 William F. Schwer

	 Title:
	 	Senior Vice President

  

			
	IMPERIAL SWEETENER DISTRIBUTORS, INC.
		
	By:	 	 /s/ William F. Schwer

	 Name:
	 	 William F. Schwer

	 Title:
	 	President

  

 SECOND AMENDMENT TO CREDIT AGREEMENT – Page 3 

					
	 IMPERIAL-SAVANNAH LP

		
	 By:
	 	 Savannah Molasses & Specialties Company

	 Title:
	 	 General Partner

			
		 	 By:
	 	 /s/ William F. Schwer

		 	 Name:
	 	 William F. Schwer

		 	 Title:
	 	 President

	
	 RAGUS HOLDINGS, INC.

		
	 By:
	 	 /s/ William F. Schwer

	 Name:
	 	 William F. Schwer

	 Title:
	 	 President

	
	 SAVANNAH FOODS INDUSTRIAL, INC.

		
	 By:
	 	 /s/ William F. Schwer

	 Name:
	 	 William F. Schwer

	 Title:
	 	 President

	
	 BIOMASS CORPORATION

		
	 By:
	 	 /s/ William F. Schwer

	 Name:
	 	 William F. Schwer

	 Title:
	 	 President

	
	 DIXIE CRYSTALS FOODSERVICE, INC.

		
	 By:
	 	 /s/ William F. Schwer

	 Name:
	 	 William F. Schwer

	 Title:
	 	 President

	
	 ICUBE, INC.

		
	 By:
	 	 /s/ William F. Schwer

	 Name:
	 	 William F. Schwer

	 Title:
	 	 President

  

 SECOND AMENDMENT TO CREDIT AGREEMENT – Page 4 

			
	 IMPERIAL HOLLY CORPORATION

		
	 By:
	 	 /s/ William F. Schwer

	 Name:
	 	 William F. Schwer

	 Title:
	 	 President

  

					
	 MENU MAGIC FOODS, INC.

		
	 By:
	 	 /s/ William F. Schwer

	 Name:
	 	 William F. Schwer

	 Title:
	 	 President

	
	 SAVANNAH FOODS & INDUSTRIES, INC.

		
	 By:
	 	 /s/ William F. Schwer

	 Name:
	 	 William F. Schwer

	 Title:
	 	 Senior Vice President

	
	 SAVANNAH INVESTMENT COMPANY

		
	 By:
	 	 /s/ William F. Schwer

	 Name:
	 	 William F. Schwer

	 Title:
	 	 President

	
	SAVANNAH MOLASSES & SPECIALTIES COMPANY
		
	 By:
	 	 /s/ William F. Schwer

	 Name:
	 	 William F. Schwer

	 Title:
	 	 President

	
	 SAVANNAH SUGAR REFINING CORPORATION

		
	 By:
	 	 /s/ William F. Schwer

	 Name:
	 	 William F. Schwer

	 Title:
	 	 President

  

 SECOND AMENDMENT TO CREDIT AGREEMENT – Page 5 

			
	 AGENT:

	
	BANK OF AMERICA, N.A., as the Agent and sole Lender under the Credit Agreement
		
	 By:
	 	 /s/ Stephen J. King

	 Name:
	 	 Stephen J. King

	 Title:
	 	 Vice President

  

 SECOND AMENDMENT TO CREDIT AGREEMENT – Page 6Amendment to Registration Rights Agreement dated as of March 28, 2006

 Exhibit 4(e) 
 Execution Version 
 AMENDMENT TO REGISTRATION RIGHTS AGREEMENT 
 AMENDMENT TO REGISTRATION RIGHTS AGREEMENT, dated as of March 28, 2006 (this “Amendment”), to the Registration Rights Agreement, dated as
of August 28, 2001 (as amended, supplemented or otherwise modified from time to time, the “Registration Rights Agreement”), by and among Imperial Sugar Company, a Texas corporation (the “Company”), and the other parties
listed on the signature pages thereto (together with their successors and assigns, the “Holders”). 
 WITNESSETH: 
 WHEREAS, the parties hereto desire that certain provisions of the Registration Rights Agreement be amended as set forth below. 
 NOW THEREFORE, the parties hereto hereby agree as follows: 
 SECTION 1. Definitions. Terms defined in the Registration Rights Agreement and used herein shall have the meanings given to them in the Registration Rights Agreement. 
 SECTION 2. Amendments to the Registration Rights Agreement. 
 (a) Amendments to Section 1. Section 1 of the Registration Rights Agreement is hereby amended by adding the following new defined terms in proper alphabetical order: 
 “Demand Party” has the meaning set forth in Section 2.1(a) of this Agreement. 
 “Registration Request” has the meaning set forth in Section 2.1(a) of this Agreement. 
 (b) Amendments to Section 2.1(a). Section 2.1(a) of the Registration Rights Agreement is hereby amended by deleting the first two
sentences thereof and substituting in lieu thereof the following: 
 “Upon the written request of Lehman Brothers, Inc.
(the “Demand Party”) at any time on or before December 31, 2007 requesting that the Company effect the registration under the Securities Act of the Demand Party’s Registrable Shares (the “Registration Request”), the
Company shall, as soon as reasonably practicable, use commercially reasonable efforts to file with the Commission, at the Company’s expense, a “shelf” registration statement on any appropriate form pursuant to Rule 415 under the
Securities Act covering all Registrable Shares requested to be included in the registration by the Demand Party in the Registration Request (the “Shelf Registration Statement”); provided that, in no event shall the Company be
required to effect more than one registration pursuant to this Section 2.1. The Company shall use commercially reasonable efforts to have the Shelf Registration Statement initially declared effective within 90 days after the 

 
date of the Registration Request and to keep the Shelf Registration Statement continuously effective until the earliest of (i) such time as all shares
of Registrable Shares have been sold thereunder, (ii) three years following the date on which the Shelf Registration Statement is declared effective, or (iii) such time as all of the Registrable Shares can be sold by the Electing Holders
thereof under Rule 144 of the Securities Act or any successor or similar rule or provision without regard to volume limitations (the “Shelf Registration Period”).” 
 (c) Amendments to Section 2.1(b). Section 2.1(b) of the Registration Rights Agreement is hereby amended as follows: 
 (i) by deleting the first sentence therein and substituting in lieu thereof the following: 
 “Any Holder, including the Demand Party, desiring to include Registrable Shares in the Shelf Registration Statement must return a
completed Notice and Questionnaire to the Company no later than 30 days after the date of the Registration Request.” 
 (ii) by deleting the reference to “the date of this Agreement” in the last sentence therein and substituting in lieu thereof “the date of the Registration Request”. 
 (d) Amendments to the Notice and Questionnaire. The form of Notice of Registration Statement and Selling Securityholder Questionnaire contained in
Exhibit A to the Registration Rights Agreement is hereby amended by deleting the references therein to “the date of the Registration Rights Agreement” and substituting in lieu thereof “the date of the Registration Request”.

 SECTION 3. Continued Force and Effect. Except as expressly amended hereby, the Registration Rights Agreement remains unchanged, and
as amended hereby the Registration Rights Agreement remains in full force and effect. 
 SECTION 4. Governing Law. This Amendment
shall be construed and enforced in accordance with and governed by the laws of the State of Texas, without giving effect to the conflicts of law principles thereof. 
 SECTION 5. Counterparts. This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but all such counterparts shall together constitute one and the same instrument.

 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first above written:

  

					
	 COMPANY:

	
	 IMPERIAL SUGAR COMPANY

		
	 By:
	 	 /s/ H.P. MECHLER

		 	 Name:
	 	 H.P. Mechler

		 	 Title:
	 	 Sr. Vice President & CFO

	
	 HOLDERS:

	
	 LEHMAN BROTHERS INC.

		
	 By:
	 	 /s/ ASHVIN RAO

		 	 Name:
	 	 Ashvin Rao

		 	 Title:
	 	 Vice President

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