Document:

WU - 6.30.2014 - Ex 10.2

Exhibit 10.2

Execution Version
        

AMENDMENT NO. 1 TO CREDIT AGREEMENT

This AMENDMENT NO. 1 TO CREDIT AGREEMENT (this “Amendment”), dated as of June 5, 2014, is entered into by and among THE WESTERN UNION COMPANY, a Delaware corporation (the “Company”), the several banks and other financial institutions from time to time parties hereto as “Banks” (the “Banks”), WELLS FARGO BANK, NATIONAL ASSOCIATION, in its capacity as the Swing Line Bank (in such capacity, the “Swing Line Bank”), WELLS FARGO BANK, NATIONAL ASSOCIATION, CITIBANK, N.A. and JPMORGAN CHASE BANK, N.A., in their respective capacities as Issuing Lenders (in such capacity, an “Issuing Lender”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent for the Banks hereunder (in such capacity, the “Administrative Agent”).  Each capitalized term used and not otherwise defined in this Amendment has the definition specified in the Credit Agreement described below.
WITNESSETH:
WHEREAS, the Company, the Administrative Agent, the Swing Line Bank, the Issuing Lenders and the Banks party thereto have entered into that certain Credit Agreement dated as of September 23, 2011 (the “Credit Agreement”), pursuant to which, among other things, the Banks have made available to the Company a revolving credit facility; 
WHEREAS, the Company has advised the Administrative Agent and the Banks that it desires to amend the Credit Agreement;
WHEREAS, the Administrative Agent, the Swing Line Bank, the Issuing Lenders and the Banks are willing to so amend the Credit Agreement on the terms and conditions contained in this Amendment; and
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, the parties hereto hereby agree as follows:
1.Amendments to Credit Agreement.  Subject to the terms and conditions set forth herein, the Credit Agreement is hereby amended as follows:
    
(a)    Section 1.1 is amended to add the following definition after the definition of “Guarantee Obligation” therein:

“Hedging Agreement”:  any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, events, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions, that is entered into by the Company or any of its Subsidiaries for hedging purposes.

(b)    The definition of “Indebtedness” in Section 1.1 is amended to delete the last sentence thereof and to substitute therefor the following:
For the purposes of this definition, the following shall not constitute Indebtedness: (A) any obligations of the Company or any of its Subsidiaries under any Hedging Agreement, and (B) the issuance of payment instruments, consumer funds transfers, or other amounts paid to or received by the Company, any of its Subsidiaries or any agent thereof in the ordinary course of business in order for the Company or such Subsidiary to make further distribution to a third party, to the extent payment in respect thereof has been received by the Company, such Subsidiary or any agent thereof.
(c)    The definition of “LIBOR Rate” in Section 1.1 is amended and restated in its entirety as follows:

“LIBOR Rate”: with respect to each LIBOR Loan constituting part of the same borrowing for any Interest Period, (A) with respect to any LIBOR Loan denominated in Dollars, an interest rate per annum obtained by dividing (i) (y) the rate of interest appearing on Reuters Screen LIBOR01 Page (or any successor page) equal to the London Interbank Offered Rate, or a comparable or successor rate which rate is approved by the Administrative Agent (with the consent of the Company, not to be unreasonably withheld, conditioned or delayed), as published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent (with the consent of the Company, not to be unreasonably withheld, conditioned or delayed) from time to time) for Dollar deposits or (z) if no such rate is available, the rate of interest determined by the Administrative Agent to be the rate or the arithmetic mean of rates at which Dollar deposits in immediately available funds are offered to first-tier banks in the London interbank Eurodollar market, in each case under clause (y) or (z) above at approximately 11:00 a.m., London time, two Business Days prior to the first day of such Interest Period for a period substantially equal to such Interest Period and in minimum amounts of at least $5,000,000, by (ii) the amount equal to 1.00 minus the Reserve Requirement (expressed as a decimal) for such Interest Period, and (B) with respect to any LIBOR Loan denominated in a Foreign Currency, an interest rate per annum obtained by dividing (i) (x) the rate of interest appearing on Reuters Screen LIBOR01 Page (or any successor page) equal to the London Interbank Offered Rate, or a comparable or successor rate which rate is approved by the Administrative Agent (with the consent of the Company, not to be unreasonably withheld, conditioned or delayed), as published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time (with the consent of the Company, not to be unreasonably withheld, conditioned or delayed)) for deposits in such Foreign Currency, or (y) if no such rate is available, the rate of interest determined by the Administrative Agent to be the rate or the arithmetic mean of rates at which such Foreign Currency deposits in immediately available funds are offered to first-tier banks in the London interbank market, in each case under clause (x) or (y) above at approximately 11:00 a.m., London time, two Business Days prior to the first day of such Interest Period for a period substantially equal to such Interest Period and in minimum amounts of at least $5,000,000, by (ii) the amount equal to 1.00 minus the Reserve Requirement (expressed as a decimal) for such Interest Period.
(d)    Section 6.2 is amended by deleting the word “and” after subparagraph (i), redesignating current subparagraph (j) as subparagraph (k), and inserting immediately prior to such subparagraph the following new subparagraph (j): 
(j)    Liens in favor of any bank, broker, futures commission merchant, dealer, clearing agent, clearing house, swaps execution facility, designated contract market or trading facility, on property or assets held in the ordinary course of business in accounts maintained with such institution (or with another institution for the benefit of such institution) in connection with Hedging Agreements; and 
2.Effectiveness; Condition Precedent.  The effectiveness of this Amendment and the amendments provided in Section 1 are subject to the satisfaction of the following conditions precedent:

(a)Documentation. The Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent, counterparts of this Amendment, duly executed by the Company, the Administrative Agent, the Swing Line Bank, the Issuing Lenders and the Majority Banks.

(b)Fees.  Any fees required to be paid on or before the effective date hereof shall have been paid.

(c)Legal Expenses.  The Company shall have paid all reasonable fees and expenses due the Administrative Agent’s counsel as of the date hereof.

3.Representations and Warranties.  In order to induce the Administrative Agent, the Swing Line Bank, the Issuing Lenders and the Banks to enter into this Amendment, the Company represents and warrants to the Administrative Agent and the Lenders as follows:

(a)The representations and warranties made by it in Section 3 of the Credit Agreement are true and correct in all material respects on and as of the date hereof (except that any representation or warranty relating to or made expressly as of a specific date shall be true and correct in all material respects solely with respect to and as of such specific date);

(b)This Amendment has been duly authorized, executed and delivered by the Company and constitutes a legal, valid and binding obligation of the Company, except as may be limited by general principles of equity or by the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditors’ rights generally; and

(c)No Default or Event of Default has occurred and is continuing or will exist after giving effect to this Amendment.

4.Entire Agreement.  This Amendment, together with the Loan Documents (collectively, the “Relevant Documents”), sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof and supersedes any prior negotiations and agreements among the parties relating to such subject matter.  No promise, condition, representation or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto, and no such party has relied on any such promise, condition, representation or warranty.  Each of the parties hereto acknowledges that, except as otherwise expressly stated in the Relevant Documents, no representations, warranties or commitments, express or implied, have been made by any party to the other in relation to the subject matter hereof or thereof.  None of the terms or conditions of this Amendment may be changed, modified, waived or canceled orally or otherwise, except in writing and in accordance with Section 9.1 of the Credit Agreement. 

5.Full Force and Effect of Amendment; Loan Document.  Except as hereby specifically amended, modified or supplemented, the Credit Agreement and all other Loan Documents are hereby confirmed and ratified in all respects and shall be and remain in full force and effect according to their respective terms.  This Amendment is a Loan Document executed pursuant to the Credit Agreement and shall (unless otherwise expressly indicated therein) be construed, administered and applied in accordance with the terms and provisions of the Credit Agreement.

6.Counterparts.  This Amendment may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature appears thereon, and all of which shall together constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Amendment by facsimile or other electronic transmission (including .pdf) shall be effective as delivery of a manually executed counterpart of this Amendment. 

7.Governing Law.  THIS AMENDMENT SHALL IN ALL RESPECTS BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT OTHERWISE WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES).

8.Enforceability.  Should any one or more of the provisions of this Amendment be determined to be illegal or unenforceable as to one or more of the parties hereto, all other provisions nevertheless shall remain effective and binding on the parties hereto.

9.References.  All references in any of the Loan Documents to the “Credit Agreement” shall mean the Credit Agreement, as amended hereby and as from time to time hereafter further amended, modified, supplemented, restated or amended and restated.

10.Successors and Assigns.  This Amendment shall be binding upon and inure to the benefit of the Company, the Administrative Agent, the Swing Line Bank, the Issuing Lenders and the Banks and their respective successors and assignees to the extent such assignees are permitted assignees as provided in Section 9.6 of the Credit Agreement. 

[Signature pages follow.]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 1 to Credit Agreement to be executed as of the date first above written.
	
	
	COMPANY:

	 

	THE WESTERN UNION COMPANY

	 

	By: /s/ Devin Parker

	Name: Devin Parker

	Title:  Assistant Treasurer

	
	
	ADMINISTRATIVE AGENT:

	 

	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent

	 

	By: /s/ Brian Buck

	Name: Brian Buck

	Title:  Director

	
	
	BANKS:

	 

	WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Bank, the Swing Line Bank and an Issuing Lender

	 

	By: /s/ Brian Buck

	Name: Brian Buck

	Title:  Director

SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT

	
	
	CITIBANK, N.A., as a Bank and an Issuing Lender

	 

	By: /s/ Marina Donskaya

	Name: Marina Donskaya

	Title:  V.P.

SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT

	
	
	JPMORGAN CHASE BANK, N.A., as a Bank and an Issuing Lender

	 

	By: /s/ Neha Desai

	Name: Neha Desai

	Title:  Vice President

SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT

	
	
	Bank of America, N.A., as a Bank

	 

	By: /s/ Matthew C. White

	Name: Matthew C. White

	Title:  Vice President

SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT

	
	
	Barclays Bank PLC, as a Bank

	 

	By: /s/ Gregory Fishbein

	Name: Gregory Fishbein

	Title:  Assistant Vice President

SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT

	
	
	U.S. BANK NATIONAL ASSOCIATION, as a Bank

	 

	By: /s/ Marty McDonald

	Name: Marty McDonald

	Title:  AVP

SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT

	
	
	BNP Paribas, as a Bank

	 

	By: /s/ Jamie Dillon

	Name: Jamie Dillon

	Title:  Managing Director

	 

	By: /s/ Joseph Mack

	Name: Joseph Mack

	Title:  Vice President

SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT

	
	
	FIFTH THIRD BANK, as a Bank

	 

	By: /s/ Sarah Kosch

	Name: Sarah Kosch

	Title:  Officer

SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT

	
	
	Goldman Sachs Bank USA, as a Bank

	 

	By: /s/ Michelle Latzoni

	Name: Michelle Latzoni

	Title:  Authorized Signatory

SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT

	
	
	Morgan Stanley Bank, N.A., as a Bank

	 

	By: /s/ Jason Lipschitz

	Name: Jason Lipschitz

	Title:  Authorized Signatory

SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT

	
	
	THE BANK OF NOVA SCOTIA, as a Bank

	 

	By: /s/ Thane Rattew

	Name: Thane Rattew

	Title:  Managing Director

SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT

	
	
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD, as a Bank

	 

	By: /s/ Jason Krogh

	Name: Jason Krogh

	Title:  Authorized Signatory

SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT

	
	
	Canadian Imperial Bank of Commerce, New York Branch

	 

	By: /s/ Dominic Soresso

	Name: Dominic Soresso

	Title:  Authorized Signatory

	 

	By: /s/ Robert Robin

	Name: Robert Robin

	Title:  Authorized Signatory

SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT

	
	
	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as a Bank

	 

	By: /s/ Amy Trapp

	Name: Amy Trapp

	Title:  Managing Director

	 

	By: /s/ Daniel Fahey

	Name: Daniel Fahey

	Title:  Vice President

SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT

	
	
	The Northern Trust Company, as a Bank

	 

	By: /s/ Molly Drennan

	Name: Molly Drennan

	Title:  Senior Vice President

SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENT

	
	
	UBS AG, STAMFORD BRANCH, as a Bank

	 

	By: /s/ Lana Gifas

	Name: Lana Gifas

	Title:  Director

	 

	By: /s/ Jennifer Anderson

	Name: Jennifer Anderson

	Title:  Associate Director

SIGNATURE PAGE TO AMENDMENT NO. 1 TO CREDIT AGREEMENTEXHIBIT 4.27

 

CONFIDENTIAL TREATMENT REQUESTED

[*] indicates confidential portions omitted pursuant to a

request for confidential treatment filed separately with

the Securities and Exchange Commission

 

LOAN NOTE

 

$400,000,000 As of June 30, 2014

 

FOR VALUE RECEIVED, Fresenius Medical Care AG & Co. KGaA, a German partnership limited by shares; Fresenius Medical Care Holdings, Inc., a New York corporation; National Medical Care, Inc., a Delaware corporation; Bio-Medical Applications of Alabama, Inc., a Delaware Corporation; Bio-Medical Applications of California, Inc., a Delaware corporation; Bio-Medical Applications of Delaware, Inc., a Delaware corporation; Bio-Medical Applications of Georgia, Inc., a Delaware corporation; Bio-Medical Applications of Kentucky, Inc., a Delaware corporation; Bio-Medical Applications of Louisiana, LLC, a Delaware limited liability company; Bio-Medical Applications of Minnesota, Inc., a Delaware corporation; Bio-Medical Applications of Mississippi, Inc., a Delaware corporation; Bio-Medical Applications of New Hampshire, Inc., a Delaware corporation; Bio-Medical Applications of New Jersey, Inc., a Delaware corporation; Bio-Medical Applications of New Mexico, Inc., a Delaware corporation; Bio-Medical Applications of North Carolina, Inc., a Delaware corporation; Bio-Medical Applications of Ohio, Inc., a Delaware corporation; Bio-Medical Applications of Pennsylvania, Inc., a Delaware corporation; Bio-Medical Applications of Tennessee, Inc., a Delaware corporation; Bio-Medical Applications of Texas, Inc., a Delaware corporation ; Bio-Medical Applications of West Virginia, Inc., a Delaware corporation; Bio-Medical Applications of Virginia, Inc., a Delaware corporation; Fresenius USA Manufacturing, Inc., a Delaware corporation; Fresenius USA Marketing, Inc., a Delaware corporation; Fresenius USA, Inc., a Massachusetts corporation; NNA of Nevada, Inc., a Nevada corporation; Spectra Laboratories, Inc., a Nevada corporation; WSKC Dialysis Services, Inc., an Illinois corporation; Fresenius Management Services, Inc., a Delaware corporation; Bio-Medical Applications of Maryland, Inc., a Delaware corporation; Renal Care Group, Inc., a Delaware corporation; Dialysis Centers of America — Illinois, Inc., an Illinois corporation; Renal Care Group of the Midwest, Inc., a Kansas corporation; Renal Advantage Holdings, Inc., a Delaware corporation; Renal Advantage Inc., a Delaware corporation; Liberty Dialysis, LLC, a Delaware limited liability company; American Access Care Holdings, LLC, a Delaware limited liability company; Bio-Medical Applications of Missouri, Inc., a Delaware corporation; Bio-Medical Applications of Wisconsin, Inc., a Delaware corporation; Dialysis Management Corporation, a Texas corporation; Fresenius Medical Care Ventures Holding Company, Inc., a Delaware corporation; NNA of Alabama, Inc., an Alabama corporation; Bio-Medical Applications of Fayetteville, Inc., a Delaware corporation; Renal Care Group of the South, Inc., a Delaware corporation; Renal Care Group of the Southeast, Inc., a Florida corporation; Renal Care Group Alaska, Inc., an Alaska corporation; Renal Care Group East, Inc., a Pennsylvania corporation; RCG Mississippi, Inc., a Delaware corporation; Renal Care Group Northwest, Inc., a Delaware corporation; Renal Care Group Texas, Inc., a Texas corporation; RCG University Division, Inc., a Tennessee corporation; Renal Care Group Southwest Holdings, Inc., a Delaware corporation; Renal Research Institute, LLC, a New York limited liability

 

 

company; Renex Dialysis Clinic of Woodbury, Inc., a New Jersey corporation; Spectra East, Inc., a Delaware corporation; Bio-Medical Applications of Florida, Inc., a Delaware corporation; Bio-Medical Applications of South Carolina, Inc., a Delaware corporation; Bio-Medical Applications of Indiana, Inc., a Delaware corporation; QualiCenters Eugene-Springfield, Ltd, a Colorado limited liability company; QualiCenters Inland Northwest, LLC, a Colorado limited liability company; QualiCenters Pueblo, LLC, a Colorado limited liability company; QualiCenters Sioux City, LLC, a Colorado limited liability company (collectively, the “Borrowers”), jointly and severally promise to pay to the order of Fresenius SE & Co. KGaA, a German partnership limited by shares, or its specified subsidiary (the “Lender”) the lesser of (i) the principal amount of $400,000,000 (Four Hundred Million Dollars), or (ii) the unpaid principal amount of all Advances (as defined in Section 2) made by the Lender to the Borrowers hereunder, together with interest accrued thereon at the rate set forth below, on the date specified for repayment of such Advance pursuant to Clause 3 hereof or such earlier date as such amounts may become payable pursuant to the terms hereof.

 

1.        The following terms used in this Note shall have the following meanings:

 

“FMC Credit Agreement” means the Credit Agreement dated as of October 30, 2012 among FMC and FMCH, as borrowers and guarantors, the other borrowers and guarantors party thereto, the lenders party thereto, Bank of America, N.A., as Administrative Agent, as amended, restated, supplemented, or otherwise modified, or renewed, refunded, replaced, or refinanced from time to time.

 

“FMC” means Fresenius Medical Care AG & Co. KGaA, a German partnership limited by shares, and its successors and permitted assigns.

 

“FMCH” means Fresenius Medical Care Holdings, Inc., a New York corporation, and its successors and permitted assigns.

 

All other capitalized terms used but not otherwise defined herein shall bear the meanings assigned thereto in the FMC Credit Agreement.

 

2.        The Lender may lend (but shall not have any commitment to lend) one or more advances (each an “Advance”) to the Borrowers jointly and severally from time to time upon request during the period from the date hereof to but excluding October 30, 2017 in an aggregate amount which shall not exceed $400,000,000.  Amounts borrowed hereunder may be repaid and reborrowed. The Lender shall have no obligation to make any Advance requested hereunder.

 

3.        Each Advance shall be repaid in full on the date that is one, two or three months after the date on which it is made, as agreed by the Borrowers and the Lender on the date such Advance is made, or any other period agreed between the Borrowers and the Lender; provided, that if no maturity date is so agreed, such Advance shall have a term of one month.

 

4.        The unpaid principal amount of each Advance made hereunder shall bear interest at a fluctuating rate per annum equal to the Fixed LIBOR Rate (as defined in and calculated

 

2

 

pursuant to the FMC Credit Agreement) for an Interest Period equivalent to the term of such Advance plus a margin, determined pursuant to the pricing matrix set forth below, that is based on the Consolidated Leverage Ratio (as defined in and calculated pursuant to the FMC Credit Agreement), and shall change as and when the Applicable Percentage (as defined in and calculated pursuant to the FMC Credit Agreement) changes:

 

	
 
    	
Pricing Level
    	
 
    	
Consolidated
   Leverage Ratio
    	
 
    	
Margin
    	
 
    	
 
    
	
 
    	
I
    	
 
    	
> 3.0:1.0
    	
 
    	
1.500
    	
%
    	
 
    
	
 
    	
II
    	
 
    	
> 2.5:1.0 but < 3.0:1.0
    	
 
    	
1.375
    	
%
    	
 
    
	
 
    	
III
    	
 
    	
< 2.5:1.0
    	
 
    	
1.125
    	
%
    	
 
    

 

Interest shall be payable in arrears upon maturity, on any prepayment and on any acceleration of the principal amount hereof and shall be computed on the basis of a 360-day year for the actual number of days elapsed (including the first day and excluding the last day).

 

5.        Whenever any payment on this Note shall be stated to be due on a day which is not a Business Day or is a day on which commercial banks are authorized or required by law to close in the Federal Republic of Germany, such payment shall be made on the next succeeding Business Day on which commercial banks are not authorized or required by law to close in the Federal Republic of Germany, and such extension of time shall be included in the computation of the payment of interest on this Note.

 

6.        All payments of principal and interest in respect of this Note shall be made in lawful money of the United States in same day funds to the Lender’s Dollar account no:   [ * ] with Commerzbank AG or such other account as provided by the Lender.

 

7.        If any proceeding under any Debtor Relief Law shall be commenced by or against the Borrowers, all amounts of principal and accrued interest outstanding under this Note shall become immediately due and payable.

 

8.         The Lender agrees, by its acceptance hereof, that before disposing of this Note or any part hereof it will make a notation hereon of all Advances, the maturity date of each such Advance and principal payments previously made hereunder and of the date to which interest hereon has been paid; provided, however, that the failure to make a notation of any Advance or any payment made on this Note shall not limit or otherwise affect the obligation of the Borrowers hereunder with respect to payments of principal or interest on this Note.

 

9.         Any Borrower may cease to be a Borrower hereunder by delivering a written notice to the Lender, effective on the later to occur of (i) the date the Lender receives such written notice and (ii) the date such Borrower has paid all of its obligations and all accrued and unpaid interest, fees and other obligations hereunder or in connection herewith.

 

10.       Upon the formation, acquisition (other receipt of interests) or existence of any Material Domestic Subsidiary of FMCH that is not a Borrower hereunder, such Material Domestic Subsidiary may become a Borrower hereunder by executing an amendment to

 

3

 

this Note.

 

11.       THIS NOTE AND THE OBLIGATIONS OF THE BORROWERS ARISING HEREUNDER AND ALL OTHER ASPECTS HEREOF SHALL BE DEEMED TO BE MADE UNDER, SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES.

 

12.       The obligations of the Borrowers arising under this Note may be prepaid in whole or in part, together with all accrued interest thereon, without penalty or premium.

 

13.       The terms of this Note are subject to amendment only by a writing signed by the Borrowers and the Lender.

 

14.       In no event shall any interest be payable under this Note to the extent that the payment thereof would be prohibited by applicable law.

 

15.       The Borrowers hereby waives diligence, presentment, protest, demand and notice of every kind and, to the full extent permitted by law, the right to plead any statute of limitations as a defense to any demand hereunder.

 

16.       No delay on the part of the Lender in the exercise of any right or remedy shall operate as a waiver thereof, and no single or partial exercise by the Lender, of any right or remedy shall preclude any other or further exercise of any other right or remedy.

 

17.       In case any provision in or obligation under this Note shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

 

4

 

IN WITNESS WHEREOF, this Note has been executed as of the day and year and at the place first written above.

 

 

BORROWERS:

 

	
 
    	
FRESENIUS MEDICAL   CARE AG & Co. KGaA, a German partnership limited by shares, represented by FRESENIUS MEDICAL CARE MANAGEMENT AG, a German corporation, its general   partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Rice Powell
    
	
 
    	
Name: 
    	
Rice Powell
    
	
 
    	
Title: 
    	
Member of the   Management Board
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Dominik   Wehner
    
	
 
    	
Name: 
    	
Dominik Wehner
    
	
 
    	
Title: 
    	
Member of the   Management Board
    

 

[Signature Page —Loan Note]

 

 

NATIONAL MEDICAL CARE, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF ALABAMA, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF CALIFORNIA, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF DELAWARE, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF GEORGIA, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF KENTUCKY, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF LOUISIANA, LLC, a Delaware limited liability company

BIO-MEDICAL APPLICATIONS OF MINNESOTA, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF MISSISSIPPI, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF NEW HAMPSHIRE, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF NEW JERSEY, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF NEW MEXICO, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF NORTH CAROLINA, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF OHIO, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF PENNSYLVANIA, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF TENNESSEE, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF TEXAS, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF WEST VIRGINIA, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF VIRGINIA, INC., a Delaware corporation

FRESENIUS USA MANUFACTURING, INC., a Delaware corporation

FRESENIUS USA MARKETING, INC., a Delaware corporation

FRESENIUS USA, INC., a Massachusetts corporation

NNA OF NEVADA, INC., a Nevada corporation

SPECTRA LABORATORIES, INC., a Nevada corporation

WSKC DIALYSIS SERVICES, INC., an Illinois corporation

FRESENIUS MANAGEMENT SERVICES, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF MARYLAND, INC., a Delaware corporation

RENAL CARE GROUP, INC., a Delaware corporation

DIALYSIS CENTERS OF AMERICA — ILLINOIS, INC., an Illinois corporation

RENAL CARE GROUP OF THE MIDWEST, INC., a Kansas corporation

RENAL ADVANTAGE HOLDINGS, INC., a Delaware corporation

RENAL ADVANTAGE INC., a Delaware corporation

LIBERTY DIALYSIS, LLC, a Delaware limited liability company

AMERICAN ACCESS CARE HOLDINGS, LLC, a Delaware limited liability company

BIO-MEDICAL APPLICATIONS OF MISSOURI, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF WISCONSIN, INC., a Delaware corporation

DIALYSIS MANAGEMENT CORPORATION, a Texas corporation

FRESENIUS MEDICAL CARE VENTURES HOLDING COMPANY, INC., a Delaware corporation

NNA OF ALABAMA, INC., an Alabama corporation

BIO-MEDICAL APPLICATIONS OF FAYETTEVILLE, INC., a Delaware corporation

RENAL CARE GROUP OF THE SOUTH, INC., a Delaware corporation

RENAL CARE GROUP OF THE SOUTHEAST, INC., a Florida corporation

RENAL CARE GROUP ALASKA, INC., an Alaska corporation

RENAL CARE GROUP EAST, INC., a Pennsylvania corporation

RCG MISSISSIPPI, INC., a Delaware corporation

RENAL CARE GROUP NORTHWEST, INC., a Delaware corporation

RENAL CARE GROUP TEXAS, INC., a Texas corporation

RCG UNIVERSITY DIVISION, INC., a Tennessee corporation

RENAL CARE GROUP SOUTHWEST HOLDINGS, INC., a Delaware corporation

RENAL RESEARCH INSTITUTE, LLC, a New York limited liability company

RENEX DIALYSIS CLINIC OF WOODBURY, INC., a New Jersey corporation

SPECTRA EAST, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF FLORIDA, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF SOUTH CAROLINA, INC., a Delaware corporation

BIO-MEDICAL APPLICATIONS OF INDIANA, INC., a Delaware corporation

QUALICENTERS EUGENE-SPRINGFIELD, LTD., a Colorado limited liability company

QUALICENTERS INLAND NORTHWEST, LLC, a Colorado limited liability company

QUALICENTERS PUEBLO, LLC, a Colorado limited liability company

QUALICENTERS SIOUX CITY, LLC, a Colorado limited liability company

 

 

	
 
    	
By:
    	
/s/ Mark Fawcett
    
	
 
    	
Name: 
    	
Mark Fawcett
    
	
 
    	
Title:
    	
Vice President and Treasurer for each of   the foregoing
    
	
 
    	
 
    

 

[Signature Page —Loan Note]

 

 

FRESENIUS MEDICAL CARE HOLDINGS, INC., a New York corporation

 

 

	
 
    	
By:
    	
/s/ Mark Fawcett
    
	
 
    	
Name: 
    	
Mark Fawcett
    
	
 
    	
Title:
    	
Vice President and Assistant Treasurer
    

 

[Signature Page —Loan Note]

 

 

CONFIDENTIAL TREATMENT REQUESTED

[*] indicates confidential portions omitted pursuant to a

request for confidential treatment filed separately with

the Securities and Exchange Commission

 

ACKNOWLEDGED AND AGREED:

 

 

	
 
    	
FRESENIUS SE & Co. KGaA, represented by FRESENIUS MANAGEMENT SE, its general partner, as   Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Stephan Sturm
    
	
 
    	
Name: 
    	
Stephan Sturm
    
	
 
    	
Title: 
    	
Member of the Management Board
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Dr. Karl-Dieter Schwab
    
	
 
    	
Name: 
    	
ppa. Dr. Karl-Dieter Schwab
    
	
 
    	
Title: 
    	
Authorized Signatory (Prokurist)
    

 

[Signature Page —Loan Note]

 

 

TRANSACTIONS ON PROMISSORY NOTE

 

	
Date
    	
 
    	
Amount of
   Advance Made
   This Date
    	
 
    	
Maturity Date
   of Such
   Advance
    	
 
    	
Amount of
   Principal Paid
   This Date
    	
 
    	
Amount of
   Interest Paid
   This Date
    	
 
    	
Outstanding
   Principal
   Balance This
   Date
    	
 
    	
Notation Made
   By

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