Document:

exv10w1

 

Exhibit 10.1

SECOND AMENDMENT TO

SUBORDINATED LOAN NOTE

     
By this Allonge (this “Allonge”), to the
Subordinated Loan Note dated as of May 18, 1999 by the
undersigned Borrowers in favor of Fresenius AG, a German
corporation, in the maximum principal amount of $400,000,000 (as
amended by an Allonge dated as of September 29, 2003, the
“Note”) the Borrowers and the Lender hereby
agree as follows:

		
	 	     
    1. All capitalized terms used herein without definition
    shall have the meanings assigned thereto in the Note.
	 
	 	     
    2. The reference to “October 31, 2007” in
    paragraph 2 of the Note is hereby deleted and replaced by a
    reference to “February 28, 2010”.
	 
	 	     
    3. The pricing matrix set forth in paragraph 4 of the
    Note is hereby amended as of December 23, 2004 to reflect
    the change in pricing under the Amended and Restated Credit
    Agreement which took effect under Amendment No. 3 thereto:

	 	 	 	 	 	 	 
	Pricing Level	 	Consolidated Leverage Ratio	 	Margin	
	 	 	 	 	 	
	
    
    I

    	 	
    >3.5:1.0	 	 	1.20%	 
	
    
    II

    	 	
    >3.0:1.0 but£ 3:5:1.0	 	 	1.20%	 
	
    
    III

    	 	
    >2.5:1.0 but£ 3.0:1.0	 	 	0.95%	 
	
    
    IV

    	 	
    >2.0:1.0 but£ 2.5:1.0	 	 	0.75%	 
	
    
    V

    	 	
    >1.5:1.0 but£ 2.0:1.0	 	 	0.675%	 
	
    
    VI

    	 	
    £1.5:1.0	 	 	0.6%	 

		
	 	     
    4. THE BORROWERS HEREBY COVENANT AND AGREE, AND THE
    LENDER, BY ITS ACCEPTANCE HEREOF, HEREBY COVENANTS AND AGREES,
    THAT, TO THE EXTENT AND IN THE MANNER HEREINAFTER SET FORTH THE
    PAYMENT OF THE PRINCIPAL OF THE INDEBTEDNESS EVIDENCED BY THE
    NOTE (AS AMENDED HEREBY AND AS IN EFFECT FROM TIME TO TIME)
    AND ANY INTEREST PAYABLE IN RESPECT THEREOF ARE HEREBY EXPRESSLY
    MADE SUBORDINATE AND SUBJECT IN RIGHT OF PAYMENT TO THE PRIOR
    PAYMENT IN FULL OF ALL AMOUNTS THEN DUE AND PAYABLE IN RESPECT
    OF ALL PREFERRED INDEBTEDNESS.
	 
	 	     
    5. To the extent not expressly modified hereby, all
    provisions of the Note remain in full force and effect.
	 
	 	     
    6. This Allonge, which may be attached to the Note, 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.

1

 

     
IN WITNESS WHEREOF, this Allonge has been executed as of
December 23, 2004.

		
	 	
    NATIONAL MEDICAL CARE, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:   Treasurer
	 
	 	
    BIO-MEDICAL APPLICATIONS OF 

     ALABAMA, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:   Treasurer
	 
	 	
    BIO-MEDICAL APPLICATIONS OF 

     CONNECTICUT, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:   Treasurer
	 
	 	
    BIO-MEDICAL APPLICATIONS OF 

     FAYETTEVILLE, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:   Treasurer
	 
	 	
    BIO-MEDICAL APPLICATIONS OF 

     FLORIDA, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:   Treasurer

2

 

		
	 	
    BIO-MEDICAL APPLICATIONS OF 

     GEORGIA, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:   Treasurer
	 
	 	
    BIO-MEDICAL APPLICATIONS OF 

     INDIANA, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:   Treasurer
	 
	 	
    BIO-MEDICAL APPLICATIONS OF 

     KENTUCKY, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:   Treasurer
	 
	 	
    BIO-MEDICAL APPLICATIONS OF 

     LOUISIANA, LLC

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:   Treasurer
	 
	 	
    BIO-MEDICAL APPLICATIONS OF 

     MARYLAND, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:   Treasurer

3

 

		
	 	
    BIO-MEDICAL APPLICATIONS OF 

     MASSACHUSETTS, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:   Treasurer
	 
	 	
    BIO-MEDICAL APPLICATIONS OF 

     MISSISSIPPI, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:   Treasurer
	 
	 	
    BIO-MEDICAL APPLICATIONS OF 

     MISSOURI, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:   Treasurer
	 
	 	
    BIO-MEDICAL APPLICATIONS 

     OF NEW JERSEY, INC. 

     (for itself and as successor by merger to 

     Bio-Medical Applications of Jersey City, Inc.)

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:   Treasurer
	 
	 	
    BIO-MEDICAL APPLICATIONS OF 

     NORTH CAROLINA, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:   Treasurer

4

 

		
	 	
    BIO-MEDICAL APPLICATIONS OF OHIO, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:  Treasurer

		
	 	
    BIO-MEDICAL APPLICATIONS OF
	 	
    OKLAHOMA, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:  Treasurer

		
	 	
    BIO-MEDICAL APPLICATIONS OF
	 	
    PENNSYLVANIA, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:  Treasurer

		
	 	
    BIO-MEDICAL APPLICATIONS OF
	 	
    SOUTH CAROLINA, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:  Treasurer

		
	 	
    BIO-MEDICAL APPLICATIONS OF TEXAS, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:  Treasurer

5

 

		
	 	
    BIO-MEDICAL APPLICATIONS OF
	 	
    VIRGINIA, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:  Treasurer

		
	 	
    BIO-MEDICAL APPLICATIONS OF
	 	
    WISCONSIN, INC.

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:  Treasurer

ACKNOWLEDGED AND AGREED:

		
		
    FRESENIUS AG

	 	 	 	 	 	 	 
	
    
    By:

    	 	
    /s/ Karl Schwab	 	
    By:	 	
    /s/ Dietmar Blumenhagen
	 	 	 	 	 	 	 
	 	 	
    Name: Karl Schwab	 	 	 	
    Name: Dr. Dietmar Blumenhagen
	 	 	
    Title:  Senior Vice President Finance	 	 	 	
    Title:  Treasurer

6exv10w2

 

Exhibit 10.2

AMENDMENT NO. 3

Dated as of January 1, 2005

to

THIRD AMENDED AND RESTATED

TRANSFER AND ADMINISTRATION AGREEMENT

Dated as of October 23, 2003

     
THIS AMENDMENT NO. 3 (this “Amendment”)
dated as of January 1, 2005 is entered into by and among
(i) NMC FUNDING CORPORATION, a Delaware corporation (the
“Transferor”), (ii) NATIONAL MEDICAL CARE,
INC., a Delaware corporation, as collection agent (the
“Collection Agent”), (iii) the
“Conduit Investors,” “Bank Investors” and
“Administrative Agents” identified on the signature
pages hereto and (iv) WESTLB AG, NEW YORK BRANCH, as agent
(the “Agent”).

PRELIMINARY STATEMENTS

     
A. The Transferor, the Collection Agent, the Conduit
Investors, the Bank Investors, the Administrative Agents and the
Agent are parties to that certain Third Amended and Restated
Transfer and Administration Agreement dated as of
October 23, 2003 (as amended or otherwise modified prior to
the date hereof, the “TAA”). Capitalized terms
used herein and not otherwise defined shall have the meanings
ascribed to them in the TAA.

     
B. The parties hereto have agreed to amend the TAA on the
terms and conditions hereinafter set forth.

     
NOW, THEREFORE, in consideration of the premises set forth
above, and other good and valuable consideration the receipt and
sufficiency of which is hereby acknowledged, the parties hereto
agree as follows:

     
SECTION 1.     Amendments to
TAA. Effective as of the Effective Date (as defined below),
the TAA is amended as follows:

		
	 	     
    1.1     Section 1.1 of the TAA is
    amended to add the following definition in appropriate
    alphabetical order:
	 
	 	     
    “Pre-Arranged Contractual Adjustment” means,
    with respect to any Receivable, a Contractual Adjustment that
    was agreed upon by the applicable Originating Entity and the
    applicable Obligor on or prior to the date such Receivable arose.
	 
	 	     
    1.2     The definition of
    “Dilution Ratio” in Section 1.1 of the TAA is
    amended to add the following clause (w) immediately prior
    to clause (x):
	 
	 	     
    “(w) any Pre-Arranged Contractual Adjustment reflected
    in the initial Outstanding Balance of the applicable
    Receivable,”.
	 
	 	     
    1.3     The definition of
    “Outstanding Balance” in Section 1.1 of the TAA
    is amended to add the following at the end of clause (ii)
    of such definition:
	 
	 	     
    “minus the amount of any Pre-Arranged Contractual
    Adjustments that have not yet been applied to reduce such
    outstanding principal amount.”
	 
	 	     
    1.4     The definition of
    “Unrealized Contractual Adjustment Reserve” is amended
    to add the following sentence at the end of such definition:
	 
	 	     
    “It is understood and agreed that Pre-Arranged Contractual
    Adjustments will be reflected in the initial Outstanding Balance
    of the applicable Receivables and accordingly will not be
    included in the Unrealized Contractual Adjustment Reserve.”

 

		
	 	     
    1.5     Section 7.1(n) of the TAA
    is amended in its entirety to read as follows:
	 
	 	     
     “(n) the Dilution Ratio for any month exceeds
    10.0%;”
	 
	 	     
    1.6     The definition of
    “Applicable Margin” in Section 1.1 of the TAA is
    amended in its entirety to read as follows:
	 
	 	     
    “Applicable Margin” means 1.25%.

     
SECTION 2.     Conditions
Precedent. This Amendment shall become effective and be
deemed effective as of the date hereof (the “Effective
Date”) subject to the satisfaction of the following
conditions:

		
	 	     
    (a) the Agent shall have received counterparts of this
    Amendment duly executed by the Transferor, the Collection Agent,
    the Majority Investors, the Administrative Agents and the Agent;
	 
	 	     
    (b) to the extent requested by any Conduit Investor, such
    Conduit Investor shall have received confirmation from each
    applicable Rating Agency that the execution and delivery of this
    Amendment will not result in the reduction or withdrawal of the
    then current ratings of its Commercial Paper; and
	 
	 	     
    (c) the Agent shall have received a reaffirmation of the
    Parent Agreement in substantially the form attached hereto as
    Exhibit A.

     
SECTION 3.     Covenants,
Representations and Warranties of the Transferor and the
Collection Agent.

     
3.1     Upon the effectiveness of this
Amendment, each of the Transferor and the Collection Agent
hereby reaffirms all covenants, representations and warranties
made by it in the TAA and agrees that all such covenants,
representations and warranties shall be deemed to have been
remade as of the effective date of this Amendment.

     
3.2     Each of the Transferor and the
Collection Agent hereby represents and warrants that
(i) this Amendment constitutes the legal, valid and binding
obligation of such party, enforceable against it in accordance
with its terms and (ii) upon the effectiveness of this
Amendment, no Termination Event or Potential Termination Event
shall exist under the TAA.

     
SECTION 4.     Reference to and
Effect on the TAA.

     
4.1     Upon the effectiveness of this
Amendment, each reference in the TAA to “this
Agreement,” “hereunder,” “hereof,”
“herein,” “hereby” or words of like import
shall mean and be a reference to the TAA as amended hereby, and
each reference to the TAA in any other document, instrument and
agreement executed and/or delivered in connection with the TAA
shall mean and be a reference to the TAA as amended hereby.

     
4.2     Except as specifically amended
hereby, the TAA and all other documents, instruments and
agreements executed and/or delivered in connection therewith
shall remain in full force and effect and are hereby ratified
and confirmed.

     
4.3     The execution, delivery and
effectiveness of this Amendment shall not operate as a waiver of
any right, power or remedy of any Investor, any Administrative
Agent or the Agent under the TAA or any other document,
instrument, or agreement executed in connection therewith, nor
constitute a waiver of any provision contained therein.

     
SECTION 5.     Governing
Law. THIS AMENDMENT SHALL BE GOVERNED AND CONSTRUED IN
ACCORDANCE WITH THE INTERNAL LAWS (AS OPPOSED TO THE CONFLICT OF
LAW PROVISIONS) AND DECISIONS OF THE STATE OF NEW YORK.

     
SECTION 6.     Execution in
Counterparts. This Amendment may be executed in any number
of counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall
be deemed to be an original and all of which taken together
shall constitute but one and the same instrument. Delivery of an
executed counterpart of this Amendment by facsimile shall be
equally as effective as delivery of an original executed
counterpart of this Amendment. Any party delivering an executed
counterpart of this Amendment by facsimile shall also deliver an
original executed counterpart of this

2

 

Amendment but the failure to deliver an original executed
counterpart shall not affect the validity, enforceability and
binding effect of this Amendment.

     
SECTION 7.     Headings.
Section headings in this Amendment are included herein for
convenience of reference only and shall not constitute a part of
this Amendment for any other purpose.

3

 

     
IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to be executed by their respective officers thereunto
duly authorized as of the date first written above.

		
	 	
    NMC FUNDING CORPORATION,
	 	
    as Transferor

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:   Treasurer
	 
	 	
    NATIONAL MEDICAL CARE, INC., as
	 	
    Collection Agent

			
	 	By: 	
    /s/ Mark Fawcett

		
	 	
     

	 	
    Name: Mark Fawcett
	 	
    Title:   Treasurer

Signature Page

Amendment No. 3 to Third Amended and Restated

Transfer and Administration Agreement

4

 

		
	 	
    PARADIGM FUNDING LLC,
	 	
    as a Conduit Investor

			
	 	By: 	
    /s/ Doris J. Hearn

		
	 	
     

	 	
    Name: Doris J. Hearn
	 	
    Title:   Vice President
	 
	 	
    WESTLB AG, NEW YORK BRANCH, as Agent, 

     an Administrative Agent and as a Bank Investor

			
	 	By: 	
    /s/ Matthew F. Tallo

		
	 	
     

	 	
    Name: Matthew F. Tallo
	 	
    Title:   Director

			
	 	By: 	
    /s/ Elisabeth Wilds

		
	 	
     

	 	
    Name: Elisabeth Wilds
	 	
    Title:   Director

Signature Page

Amendment No. 3 to Third Amended and Restated

Transfer and Administration Agreement

5

 

		
	 	
    GIRO MULTI-FUNDING CORPORATION,
	 	
    as a Conduit Investor

			
	 	By: 	
    /s/ Matthew Dorr

		
	 	
     

	 	
    Name: Matthew Dorr
	 	
    Title:   Vice President
	 
	 	
    BAYERISCHE LANDESBANK, NEW YORK BRANCH, as an Administrative
    Agent

			
	 	By: 	
    /s/ Alexander Kohnert

		
	 	
     

	 	
    Name: Alexander Kohnert
	 	
    Title:   Senior Vice President

			
	 	By: 	
    /s/ Lori-Ann Wynter

		
	 	
     

	 	
    Name: Lori-Ann Wynter
	 	
    Title:   Vice President
	 
	 	
    BAYERISCHE LANDESBANK, CAYMAN ISLANDS BRANCH, as a Bank Investor

			
	 	By: 	
    /s/ Norman McClave

		
	 	
     

	 	
    Name: Norman McClave III
	 	
    Title:   First Vice President

			
	 	By: 	
    /s/ Lori-Ann Wynter

		
	 	
     

	 	
    Name: Lori-Ann Wynter
	 	
    Title:   Vice President

Signature Page

Amendment No. 3 to Third Amended and Restated

Transfer and Administration Agreement

6

 

		
	 	
    LIBERTY STREET FUNDING CORP.,
	 	
    as a Conduit Investor

			
	 	By: 	
    /s/ Bernard J. Angelo

		
	 	
     

	 	
    Name: Bernard J. Angelo
	 	
    Title:   Vice President
	 
	 	
    THE BANK OF NOVA SCOTIA, as an
	 	
    Administrative Agent and as a Bank Investor

			
	 	By: 	
    /s/ Michael Eden

		
	 	
     

	 	
    Name: Michael Eden
	 	
    Title:   Director

Signature Page

Amendment No. 3 to Third Amended and Restated

Transfer and Administration Agreement

7

 

		
	 	
    LANDESBANK HESSEN-THUERINGEN GIROZENTRALE, as a Bank Investor

			
	 	By: 	
    /s/ Martin Scheele

		
	 	
     

	 	
    Name: Dr. Martin Scheele
	 	
    Title:   Senior Vice President

			
	 	By: 	
    /s/ Pia Horlebein

		
	 	
     

	 	
    Name: Pia Horlebein
	 	
    Title:   Analyst

Signature Page

Amendment No. 3 to Third Amended and Restated

Transfer and Administration Agreement

8

 

EXHIBIT A

REAFFIRMATION OF PARENT AGREEMENT

January 1, 2005

The Bank of Nova Scotia

as Administrative Agent

One Liberty Plaza

New York, New York 10006

WestLB, AG, New York Branch,

as Administrative Agent and Agent

1211 Avenue of the Americas

New York, New York 10036

Bayerische Landesbank, New York Branch,

as Administrative Agent

560 Lexington Avenue

New York, New York 10022

     
Each of the undersigned, FRESENIUS MEDICAL CARE AG and FRESENIUS
MEDICAL CARE HOLDINGS, INC. (i) acknowledges, and consents
to, the execution of that certain Amendment No. 3 dated as
of January 1, 2005 (the “Amendment”) with
respect to the Third Amended and Restated Transfer and
Administration Agreement, dated as of October 23, 2003
among NMC Funding Corporation, National Medical Care, Inc., the
entities parties thereto as “Conduit Investors”, the
financial institutions parties thereto as “Bank
Investors”, the financial institutions parties thereto as
“Administrative Agents” and WestLB AG, New York
Branch, as “Agent”, (ii) reaffirms all of its
obligations under that certain Parent Agreement dated as of
August 28, 1997 made by the undersigned (as amended or
otherwise modified from time to time, the “Parent
Agreement”) and (iii) acknowledges and agrees
that, after giving effect to the Amendment, such Parent
Agreement remains in full force and effect and such Parent
Agreement is hereby ratified and confirmed.

 

	 	 	 
	
    FRESENIUS MEDICAL CARE HOLDINGS, INC.	 	
    FRESENIUS MEDICAL CARE AG
	 
	
    By:  
Name:  
Title: 	 	
    By:  
Name:  
Title: 
	 	 	 
	
    
     

    	 	 
	 	 	
    By:  
Name:  
Title:

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