Document:

exv10w22

 

EXHIBIT 10.22

SECOND AMENDMENT

     THIS SECOND AMENDMENT (this “Amendment”), is dated February ___, 2007, and relates to
that certain (a) Receivables Financing Agreement, dated as of May 30, 2006 (as amended, restated,
supplemented or otherwise modified from time to time, the “Financing Agreement”), among
Hayes Funding II, Inc., a Delaware corporation (“Hayes II”), the financial institutions
from time to time party thereto (each a “Lender” and collectively, the “Lenders”),
Citicorp USA, Inc., a Delaware corporation (“CUSA”), as program agent (the “Program
Agent”) for the Lenders and HLI Operating Company, Inc. as “Servicer” (“HLIOC”), (b)
Secondary Purchase Agreement, dated as of May 30, 2006 (as amended, restated, supplemented or
otherwise modified from time to time, the “Secondary Purchase Agreement”), among Hayes II
and Hayes Funding I, LLC (“Hayes I”), and (c) Originator Purchase Agreement, dated as of
May 30, 2006 (as amended, restated, supplemented or otherwise modified from time to time, the
“Originator Purchase Agreement”), among the persons listed on Schedule 1 thereto as
“Originators” and Hayes I, and is hereby made by Hayes I, Hayes II, the Program Agent, the Lenders
and the Originators (as defined immediately prior to giving effect to this Amendment). Capitalized
terms used herein and not otherwise defined shall have the meanings ascribed to them in the
Financing Agreement, or if not defined therein, in the Originator Purchase Agreement, or if not
defined therein, in the Secondary Purchase Agreement, in each case, as modified hereby.

W I T N E S S E T H:

     WHEREAS, HLIOC has advised Hayes I, Hayes II and the Program Agent that its subsidiary, HLI
Suspension Holding Company, Inc. (“Suspension”), has agreed to sell all of the issued and
outstanding shares of capital stock of each of Hayes Lemmerz International – Bristol, Inc.
(“Bristol”) and Hayes Lemmerz International – Montague, Inc. (“Montague”) pursuant to that certain
Stock Purchase Agreement, dated February 1, 2007, between Diversified Machine, Inc., HLI Operating
Company, Inc. and HLI Suspension Holding Company, Inc. (the transactions relating thereto, the
“Sale Transaction”);

     WHEREAS, each of Bristol and Montague has requested that, in connection with the consummation
of the Sale Transaction, that the Program Agent, the Lenders, Hayes II and Hayes I consent to the
removal of each of Bristol and Montague as Originators pursuant to Section 2.09 of the Originator
Purchase Agreement and the definition of “Originator” in the Financing Agreement (the
“Removal”);

     In connection with the Removals and Sale Transaction, Bristol, Montague and Hayes I have
requested that, following the consummation of the Sale Transaction, Hayes II reconvey, and release
all security interests in, all Receivable Assets sold, or purported to be sold, by Bristol and
Montague to Hayes I and subsequently by Hayes I to Hayes II (the “Receivable Assets”; such
transaction, the “Reconveyance”), and Hayes II has requested that Program Agent and the
Lenders, release all security interests in the Receivable Assets.

     WHEREAS, the Program Agent, the Lenders, Hayes I, Hayes II, and the Originators are
willing to grant the requested consent on the terms and conditions set forth herein;

Second Amendment

 

 

     NOW, THEREFORE, in consideration of the foregoing premises, the parties hereto agree as
follows:

     1. Consent, Amendments and Reconveyance As of Effective Date. As of the “Effective
Date” (as defined in Section 3 below):

     (a) The Program Agent, the Lenders, Hayes I, Hayes II and the Originators hereby
consent to the Removal following the consummation of the Sale Transaction.

     (b) Each of Schedule 1 and Exhibit C to the Originator Purchase Agreement shall be
amended and restated by such schedules and exhibits attached as Exhibit A hereto to
reflect the Removal.

     (c) Schedule 1.01-4 of the Financing Agreement shall be amended by deleting “Hayes
Lemmerz International – Bristol, Inc.” and “Hayes Lemmerz International – Montague, Inc.”
under the reference to “Originators” thereon.

     (d) Each Weekly Report delivered by HLIOC under the Financing Agreement shall detail
the collections received by Hayes II, HLIOC, or Hayes I from Receivable Assets during the
related calendar week and shall report as to the timing of segregation and disbursement of
such collections; it being agreed and understood that pursuant to the definition of “Weekly
Report”, such report is to include additional information requested by Program Agent from
time to time, and that pursuant to this Amendment such additional information is hereby
requested.

     (e) On each Payment Date, HLIOC shall provide a written report to Program Agent (i)
certifying that no collections from Receivable Assets have been deposited in the Facility
Account and (ii) detailing any collections received from Receivable Assets since the date
last reported to the Program Agent and reporting as to the timing of segregation and
disbursement of such collections; it being agreed and understood that pursuant to Section
6.02(g)(iv) of the Financing Agreement, Program Agent has the right to so request such
information.

     (f) HLIOC agrees that it will, on the Effective Date, cause each of Bristol and
Montague to send written notice to each Obligor of Receivable Assets to remit payment to a
deposit account other than a Deposit Account (and a lockbox other than a Lockbox) and a
Person other than HLIOC, Hayes II, and Hayes I. Should notwithstanding such instructions
any collections from Receivable Assets be remitted to HLIOC, Hayes II, Hayes I, any Deposit
Account or any Lockbox, HLIOC shall promptly (and in any event within one Business Day)
segregate such collections from the Collections and disburse such collections from such
Deposit Account or Lockbox or otherwise remit such collections so received as directed by
Bristol and/or Montague, as applicable.

     (g) The Lenders authorize the Program Agent to release, and the Program Agent, on
behalf of the Lenders, hereby releases all security interests with respect to, and Hayes II
hereby accepts and receives, all of the Program Agent’s right,

Second Amendment

 

 

title and interest in and to the Collateral arising out of, or relating to, Receivables
originated by Bristol and Montague (the “Reconveyed Property”). As a condition to
the foregoing conveyance of the Reconveyed Property, (a) Hayes II shall have delivered to
the Program Agent on the Effective Date a Daily Report giving pro forma effect to such
conveyance, and (b) Hayes II shall have paid to the Program Agent, for the benefit of the
Lenders, in immediately available funds, an amount equal to the amount, if any, by which the
Facility Principal is greater than the Borrowing Base, in each case as determined after
giving effect to such reconveyance, which amount shall have been paid in consideration for
such transfers and assignments. On or after the Effective Date, the Program Agent agrees to
authorize Bristol and Montague to record and file termination statements with respect to
financing statements filed against Bristol and Montague to reflect the foregoing
reconveyance.

     (h) As of the Effective Date, each of Bristol and Montague are released and forever
discharged from and against any and all claims, obligations and/or liabilities arising under
or related to the Originator Purchase Agreement and other Transaction Documents.

     2. Representations and Warranties. (a) As of the Effective Date, Originators (as
defined immediately following the Effective Date), hereby represent and warrant to Hayes I, (b) as
of the Effective Date, Originators (as defined as of the Effective Date), hereby represent and
warrant to Hayes I, and (c) as of the Effective Date, Hayes I hereby represents and warrants to
Hayes II, and Hayes II and HLIOC each represent and warrant to Program Agent (for the benefit of
itself and the Lenders) that (i) all of the representations and warranties of such Person in the
Transaction Documents are true and correct in all respects on and as of such date as though made to
each such Person on and as of such date (other than representations and warranties which expressly
speak as of a different date, which representations shall be made only on such date), (ii) each of
the recitals accurately describes the transactions described therein in all respects, and (iii) as
of such date, no Event of Termination, Incipient Event of Termination, or Servicer Default has
occurred and is continuing.

     3. Effective Date. The “Effective Date” shall occur upon the satisfaction of
the following conditions precedent:

     (a) The Program Agent shall have received counterparts hereof executed by each Person
for which a signature block is attached hereto.

     (b) Each of the representations and warranties contained in this Amendment which speaks
as of the Effective Date shall be true and correct in all respects on and as of the
Effective Date.

     (c) The Program Agent, Bristol, Montague and CNAI, in its capacity as administrative
agent under the Credit Agreement, shall have executed and delivered signature pages to an
agreement removing Bristol and Montague as parties to the Intercreditor Agreement, which
agreement shall be in form and substance satisfactory to the Program Agent.

Second Amendment

 

 

     (d) The Program Agent shall have received an executed reconveyance agreements among
Hayes I, Hayes II, HLIOC and Bristol and among Hayes I, Hayes II, HLIOC and Montague which
shall be in form and substance satisfactory to the Program Agent.

     (e) The Sale Transaction shall have been consummated.

     4. Reference to and Effect on the Loan Documents.

     (a) As applicable, on and after the Effective Date, each reference in the Financing
Agreement and Originator Purchase Agreement to “this Agreement”, “hereunder”, “hereof” or
words of like import, and each reference in the other Transaction Documents to the Financing
Agreement and Originator Purchase Agreement, shall mean and be a reference to the Financing
Agreement and Originator Purchase Agreement as modified hereby.

     (b) Except as specifically amended or consented to above, all of the terms of the
Financing Agreement, Originator Purchase Agreement and all other Transaction Documents
remain unchanged and in full force and effect.

     (c) Except as provided in Section 1(h), the execution, delivery and effectiveness of
this Amendment shall not operate as a waiver of any right, power or remedy of any Lender or
of Program Agent, Hayes I or Hayes II under any of the Transaction Documents, nor constitute
an amendment, other than as set forth herein, or waiver of any provision of any of the
Transaction Documents, nor obligate any Lender or Program Agent, Hayes I or Hayes II to
agree to similar consents in the future.

     (d) This Amendment shall constitute a Transaction Document and any failure to comply
with Section 1(g) hereof shall constitute an Event of Termination under the
Financing Agreement notwithstanding any grace period set forth in Section 7.01(d) of the
Financing Agreement.

     5. Costs and Expenses. Hayes II agrees to pay upon demand in accordance with the
terms of Section 10.04(a)(viii) of the Financing Agreement all reasonable costs and expenses of the
Program Agent in connection with the preparation, reproduction, negotiation, execution and delivery
of this Amendment, including, without limitation, the reasonable fees, expenses and disbursements
of Sidley Austin LLP, counsel for the Program Agent with respect to any of the foregoing.

     6. Miscellaneous. The headings herein are for convenience of reference only and shall
not alter or otherwise affect the meaning hereof.

     7. Counterparts. This Amendment may be executed in any number of counterparts and by
the different parties hereto in separate counterparts, each of which when so executed and delivered
by facsimile shall be an original, but all of which shall together constitute one and the same
instrument.

Second Amendment

 

 

     8. GOVERNING LAW. THIS AMENDMENT SHALL, IN ACCORDANCE WITH SECTION 5-1401 OF THE
GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAW OF THE STATE OF NEW YORK.

* * *

Second Amendment

 

 

     IN WITNESS WHEREOF, Hayes I, Hayes II, HLIOC, the Program Agent, the Lenders, Bristol,
Montague and the Originators have caused this Amendment to be executed by their respective officers
thereunto duly authorized as of the date first above written.

	 	 	 	 	 	 	 
	 	 	HAYES FUNDING II, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Gary Findling

Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	HAYES FUNDING I, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Gary Findling

Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	HLI OPERATING COMPANY, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Gary Findling

Treasurer	 	 

Signature Page to Second Amendment

 

 

	 	 	 	 	 	 	 
	 	 	CITICORP USA, INC.,

as Program Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Keith R. Gerding

Vice President	 	 

Signature Page to Second Amendment

 

 

	 	 	 	 	 	 	 
	 	 	CITICORP USA, INC.,

as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Keith R. Gerding

Vice President	 	 

Signature Page to Second Amendment

 

 

	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A., as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

Signature Page to Second Amendment

 

 

	 	 	 	 	 	 	 
	 	 	THE CIT GROUP/BUSINESS CREDIT, INC., as Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

Signature Page to Second Amendment

 

 

ORIGINATORS:

HAYES LEMMERZ INTERNATIONAL – SEDALIA, INC.
 

HAYES LEMMERZ INTERNATIONAL – GEORGIA, INC.
 

HAYES LEMMERZ INTERNATIONAL IMPORT, INC.
 

HAYES LEMMERZ INTERNATIONAL – COMMERCIAL HIGHWAY, INC.
 

HAYES LEMMERZ INTERNATIONAL – WABASH, INC.
 

HAYES LEMMERZ INTERNATIONAL – LAREDO, INC.
 

HAYES LEMMERZ INTERNATIONAL – HOMER, INC.
 

HAYES LEMMERZ INTERNATIONAL – TECHNICAL CENTER, INC.

	 	 	 	 	 	 	 
	 

	 	By:
	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Gary Findling

Treasurer	 	 

Signature Page to Second Amendment

 

 

REMOVED ORIGINATORS:

	 	 	 	 	 	 	 
	 	 	HAYES LEMMERZ INTERNATIONAL — BRISTOL, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Gary Findling

Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	HAYES LEMMERZ INTERNATIONAL — MONTAGUE, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Gary Findling

Treasurer	 	 

Signature Page to Second Amendment

 

 

Exhibit A

Amended and Restated Schedule 1 and Exhibit C to Originator Purchase Agreement

Schedule 1

List of Originators

Originators

Hayes Lemmerz International – Sedalia, Inc.

Hayes Lemmerz International – Commercial Highway, Inc.

Hayes Lemmerz International – Georgia, Inc.

Hayes Lemmerz International Import, Inc.

Hayes Lemmerz International – Wabash, Inc.

Hayes Lemmerz International – Laredo, Inc.

Hayes Lemmerz International – Homer, Inc.

Hayes Lemmerz International – Technical Center, Inc.

Second Amendment

 

 

EXHIBIT C

Location of Records, Chief Executive Offices and Addresses

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	Sole 
	 	 	 	 	Chief 	 	Principal 	 	Federal 	 	 	 	Jurisdiction 
	 	 	Location of 	 	Executive 	 	Place of 	 	Employer	 	Form of 	 	of 
	Originator	 	Records	 	Office	 	Business	 	ID#	 	Organization	 	Organization
	Hayes Lemmerz
International –
Sedalia, Inc.

	 	15300 Centennial Dr.
Northville, MI
48168
	 	15300 Centennial Dr.
Northville, MI
48168
	 	3610 W. Main St.
Sedalia, MO 65301
	 	77-0597670
	 	Corporation
	 	Delaware
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Hayes Lemmerz
International –
Georgia, Inc.

	 	15300 Centennial Dr.
Northville, MI
48168
	 	15300 Centennial Dr.
Northville, MI
48168
	 	1215 Palmour Drive

Gainesville, GA

30501
	 	58-2046122
	 	Corporation
	 	Delaware
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Hayes Lemmerz
International Import,
Inc.

	 	15300 Centennial Dr.
Northville, MI
48168
	 	15300 Centennial Dr.
Northville, MI
48168
	 	15300 Centennial Dr.
Northville, MI
48168
	 	38-3311655
	 	Corporation
	 	Delaware
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Hayes Lemmerz
International –
Wabash, Inc.

	 	15300 Centennial Dr.
Northville, MI
48168
	 	15300 Centennial Dr.
Northville, MI
48168
	 	3837 W. Mill St.
Ext.
Wabash, IN 46992
	 	38-2170301
	 	Corporation
	 	Indiana
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Hayes Lemmerz
International –
Laredo, Inc.

	 	15300 Centennial Dr.
Northville, MI
48168
	 	15300 Centennial Dr.
Northville, MI
48168
	 	P.O. Box 2159
Laredo, TX 78044
	 	74-2418656
	 	Corporation
	 	Texas

Second Amendment

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	Sole 
	 	 	 	 	Chief 	 	Principal 	 	Federal 	 	 	 	Jurisdiction 
	 	 	Location of 	 	Executive 	 	Place of 	 	Employer	 	Form of 	 	of 
	Originator	 	Records	 	Office	 	Business	 	ID#	 	Organization	 	Organization
	Hayes Lemmerz
International –
Homer, Inc.

	 	15300 Centennial Dr.
Northville, MI
48168
	 	15300 Centennial Dr.
Northville, MI
48168
	 	29991 M60 East

Homer, MI 49245
	 	38-3086380
	 	Corporation
	 	Delaware
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Hayes Lemmerz
International –
Technical Center, Inc.

	 	15300 Centennial Dr.
Northville, MI
48168
	 	15300 Centennial Dr.
Northville, MI
48168
	 	1600 W. 8 Mile Rd.
Ferndale, MI 48220
	 	38-2257519
	 	Corporation
	 	Michigan
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Hayes Lemmerz International –

Commercial Highway, Inc,

	 	15300 Centennial Dr.
Northville, MI
48168
	 	15300 Centennial Dr.
Northville, MI
48168
	 	428 Seiberling St.
Akron, OH 44306-3282
	 	77-0597674
	 	Corporation
	 	Delaware

Second Amendmentexv10w1

 

Exhibit 10.1

AMENDMENT TO CONFIRMATION

         
THIS AMENDMENT (this “Amendment”) is made as of this 3rd day of April 2007, between Wells Fargo, National
Association (“Dealer”) and AMERIGROUP Corporation (“Issuer”).

        
	WHEREAS, Dealer and Issuer are parties to a Confirmation dated as of March 22, 2007 (the “Confirmation”) relating
to Warrants on shares of common stock (par value USD0.01 per share) of Issuer;

        
	WHEREAS, the parties wish to amend the Confirmation on the terms and conditions set forth in this Amendment;

        
	NOW, THEREFORE, in consideration of their mutual covenants herein contained, the parties hereto agree as follows:

        
	Section 1.  Terms Used but Not Defined Herein.  Terms used but not defined herein shall have the respective meanings given to them in the Confirmation.

        
	Section 2.  Amendment to the Confirmation.

	 	 	 
	 

	(a)	The “Premium” under the Confirmation shall be USD25,662,000.
	 

	 	 

	 

	(b)	The “Number of Warrants” under Annex A shall be (i) 122,259 for
Components 1 through 36 and (ii) 122,260 for Components 37 through 50.

        
	Section 3. Representations and Warranties.

        
	Issuer represents and warrants to Dealer as follows:

	 	 	 
	 

	(a)	On the date of this Amendment, (A) none of Issuer and its officers and directors
is aware of any material nonpublic information regarding Issuer or the Shares and (B) all reports and other documents filed
by Issuer with the Securities and Exchange Commission pursuant to the Exchange Act when considered
as a whole (with the more recent such reports and documents deemed to amend inconsistent statements contained in any
earlier such reports and documents), do not contain any untrue statement of a material fact or any omission of
a material fact required to be stated therein or necessary to make the statements therein, in the light of
the circumstances in which they were made, not misleading.
	 

	 	 

	 

	(b)	Issuer is not entering into this Amendment to create actual or apparent trading activity
in the Shares (or any security convertible into or exchangeable for Shares) or to raise or depress or otherwise manipulate
the price of the Shares (or any security convertible into or exchangeable for Shares) or otherwise in violation of the Exchange Act.

        
Each of Dealer and Issuer represents and warrants to the other as follows:

	 	 	 
	 

	(c)	Each of its respective representations and warranties set forth in the Agreement and
Section 7 of the Confirmation are true and correct and are hereby deemed to be repeated as if set forth herein.

        
	Section 4.  Effectiveness.  This Amendment shall become effective upon execution by the parties hereto.

        
	Section 5.  Counterparts.  This Amendment may be signed in any number of counterparts, each of which shall be an original, with the same effect as if all of the signatures thereto and hereto were upon the same instrument.

        
	Section 6.  Governing Law.  This Amendment shall be governed by and construed in accordance with the laws of the State of New York.

        
	Section 7.  Effectiveness of Confirmation.  Except as amended hereby, all the terms of the Confirmation shall remain and continue in full force and effect and are hereby confirmed in all respects.

 

     
IN WITNESS WHEREOF, the parties have signed this Amendment as of the date and year first above written.

 

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION

 	 
	 	By:  	 /s/
Gordy
Holterman	 
	 	 	Name:  Gordy
Holterman	 	 
	 	 	Title:  Executive Vice
President	 
	 

	 	 	 	 	 
	Agreed and accepted by:	 	 
	 
	 	 	 	 
	AMERIGROUP CORPORATION	 	 
	 
	 	 	 	 
	By:
	 	 /s/ James W. Truess	 	 
	 

	 	 

Name: James W. Truess

Title: Executive Vice President and Chief Financial Officer

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