Document:

8k10.1.2013exhibit10.2

Exhibit 10.2

AMENDMENT NO. 1 TO AMENDED AND RESTATED CREDIT AGREEMENT, dated as of September 25, 2013 (this “Amendment No. 1”), by and among Biomet Inc., an Indiana corporation (the “Borrower”), LVB Acquisition, Inc., a Delaware corporation (“Holdings”), each of the other Loan Parties, the Additional Term Lender party hereto and Bank of America, N.A., as Administrative Agent.
WHEREAS, the Borrower, Holdings, the Lenders, the Administrative Agent, the Swing Line Lender and L/C Issuer are parties to a Credit Agreement dated as of September 25, 2007, as amended and restated as of August 2, 2012 and as further amended by the First Incremental Term Facility Amendment dated as of December 27, 2012 (as amended, amended and restated, modified and/or supplemented through and including the date hereof, including pursuant to that certain Second Incremental Amendment, dated as of the date hereof (the “Second Incremental Amendment”) but not including this Amendment No. 1, the “Credit Agreement”), pursuant to which the Lenders have extended credit to the Borrower;
WHEREAS, pursuant to Section 10.01 of the Credit Agreement, the Borrower and the Required Lenders may amend the terms of the Credit Agreement;
WHEREAS, the Additional Dollar Term B-2 Lender listed on the signature page hereto has agreed to provide the Additional Dollar Term B-2 Commitment;
WHEREAS, each Converting Dollar Term B-1 Lender (as defined below) has agreed to convert the entire aggregate principal amount of its Dollar Term B-1 Loan into a like aggregate principal amount of Dollar Term B-2 Loan on the terms set forth in this Amendment;
WHEREAS, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Citigroup Global Markets Inc. are the joint lead arrangers and Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., Barclays Bank PLC, Goldman Sachs Lending Partners LLC, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are the joint bookrunners for this Amendment No. 1;
NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto hereby agree as follows:
SECTION I.Defined Terms.  Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Credit Agreement.  Additionally, as used herein, the following terms shall have the meanings indicated below:
“Additional Dollar Term B-2 Lender” means the Person identified on the signature page to the Amendment No. 1 as the “Additional Dollar Term B-2 Lender.”
“Additional Dollar Term B-2 Loan Commitment” means the commitment of the Additional Dollar Term B-2 Lender to make a Dollar Term B-2 Loan to the Borrower on the Amendment No. 1 

Effective Date pursuant to Section 2 of this Amendment No. 1 in an aggregate principal amount equal to $752,053,723.73.
“Converting Dollar Term B-1 Lender” means each Dollar Term B-1 Lender that has executed a counterpart to this Amendment No. 1 specifying that such Dollar Term B-1 Lender is electing to convert the entire aggregate principal amount of its outstanding Dollar Term B-1 Loan to a Dollar Term B-2 Loan on the Amendment No. 1 Effective Date pursuant to Section 2 of this Amendment No. 1 Effective Date.  
“Converted Dollar Term B-1 Loan” means each Dollar Term B-1 Loan held by a Converting Dollar Term B-1 Lender immediately prior to the effectiveness of this Amendment No. 1. 

SECTION 2.    Add-On Dollar Term B-2 Loans.  
(a)    Subject to the terms and conditions set forth herein, on the Amendment No. 1 Effective Date (i) the Additional Dollar Term B-2 Lender agrees to make a Dollar Term B-2 Loan to the Borrower in Dollars in an aggregate principal amount equal to its Additional Dollar Term B-2 Loan Commitment and (ii) the Converted Dollar Term B-1 Loan of each Converting Dollar Term B-2 Lender shall be converted into a like aggregate principal amount of a Dollar Term B-2 Loan of such Lender.  The Term B-2 Loans established pursuant to this Section 2 shall be identical to the Dollar Term B-2 Loans made pursuant to the Second Incremental Amendment (the “Existing Dollar Term B-2 Loans”) and shall form a single Class of Term Loans with the Existing Dollar Term B-2 Loans for all purposes of the Credit Agreement.  The Dollar Term B-2 Loans made pursuant to this Section 2 shall initially be in the form of a pro rata increase in the amount of each outstanding Borrowing of Existing Dollar Term B-2 Loans.  The Additional Dollar Term B-2 Lender shall make the amount of its Dollar Term B-2 Loan available to the Administrative Agent no later than 1:00 p.m., New York City time, on the Amendment No. 1 Effective Date in Dollars and immediately available funds and the Administrative Agent shall make the proceeds thereof available to the Borrower in accordance with the funding instructions provided in the Committed Loan Notice referred to in Section 4 of this Amendment No. 1.  The Lenders party hereto waive the requirement that the Borrowing of Dollar Term B-2 Loans in connection with this Amendment No. 1 be a multiple of the listed amount under Section 2.02(a) of the Credit Agreement.  
(b)    Without duplication of required payments pursuant to Section 2(d) of the Second Incremental Amendment, pursuant to Section 2.07(a) of the Credit Agreement, the Borrower shall repay to the Administrative Agent for the ratable account of the Dollar Term B-2 Lenders (i) on the last Business Day of each March, June, September and December, commencing with the first such day following the Incremental Effective Date, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Dollar Term B-2 Loans borrowed pursuant to Section 2(b) of Second Incremental Amendment and pursuant to Section  2(a) of this Amendment No. 1 on the Amendment No. 1 Effective Date (as such repayment amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05 of the Credit Agreement); provided that at the time of any effectiveness of any Term Loan Extension Amendment with respect the Dollar Term B-2 Loans, the scheduled amortizations with respect to the Dollar Term B-2 Loans set forth above shall be reduced ratably to reflect the percentage of Dollar Term B-2 Loans converted to Extended Term Loans (but will not affect the amount of amortization received by a given Dollar Term B-2 Lender with outstanding Dollar Term B-2 Loans) 

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and (ii) on the Maturity Date applicable to the Existing Dollar Term B-2 Loans, the aggregate outstanding principal amount of all Dollar Term B-2 Loans outstanding on such date.
 (c)    All other terms applicable to the Dollar Term B-2 Loans made or converted pursuant to this Amendment No. 1 shall be identical to the terms of the Dollar Term B-2 Loans made pursuant to the Second Incremental Amendment.
(d)     Notwithstanding anything to the contrary in the Credit Agreement, the Borrower may provide the notice of the borrowing to the Administrative Agent required under Section 2.02(a) of the Credit Agreement by delivery to the Administrative Agent of a written Committed Loan Notice, in the form of Exhibit A to this Incremental Agreement, not later than 1:00 p.m. New York City time (i) one (1) Business Day prior to the funding if the Dollar Term B-2 Loans pursuant to this Amendment No. 1 are to initially be Base Rate Loans and (ii) three (3) Business Days prior to the funding if the Dollar Term B-2 Loans pursuant to this Amendment No. 1 are initially to be Eurocurrency Rate Loans.
(e)    The Borrower shall prepay all Dollar Term B-1 Loans that are not Converted Dollar Term B-1 Loans on the Amendment No. 1 Effective Date, together with all accrued and unpaid interest on such Dollar Term B-1 Loans to, but not including, the Amendment No. 1 Effective Date.
SECTION 3.    Representations and Warranties.  To induce the other parties hereto to enter into this Amendment No. 1, each Loan Party represents and warrants to each of the Lenders and the Administrative Agent that, immediately before and after giving effect to this Amendment No. 1 and the transactions contemplated hereby: 
(a)    the representations and warranties set forth in Article V of the Credit Agreement and in the other Loan Documents are true and correct in all material respects on and as of the date hereof, except to the extent such representations and warranties expressly relate to an earlier date, in which case they were true and correct in all material respects as of such earlier date; provided that any representation or warranty that is qualified as to “materiality”, “Material Adverse Effect” or similar language is true and correct (after giving effect to any qualification therein) in all respects on such respective dates; and 
(b)    no Default or Event of Default shall have occurred and be continuing as of the Amendment No. 1 Effective Date or would result from the making of the Dollar Term B-2 Loans.
SECTION 4.    Conditions to Effectiveness.  This Amendment No. 1 shall become effective as of the date (the “Amendment No. 1 Effective Date”) on which each of the following conditions shall have been satisfied:
(a)    the Administrative Agent (or its counsel) shall have received counterparts of this Amendment No. 1 that, when taken together, bear the signatures of (i) each Loan Party, (ii) the Administrative Agent, (iii) Lenders constituting the Required Lenders, (iv) the Additional Dollar Term B-2 Lender identified on the signature page hereto and (v) Converting Dollar Term B-1 Lenders with Converted Dollar Term B-1 Loans that, when aggregated with the amount of the Additional Dollar Term B-1 Loan Commitment, are equal to the aggregate principal amount of the Dollar Term B-1 Loans immediately prior to the Amendment No. 1 Effective Date;

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(b)    the Administrative Agent shall have received a certificate signed by a Responsible Officer of the Borrower certifying that the conditions precedent set forth in Sections 4.02(a) and 4.02(b) of the Credit Agreement shall have been satisfied on and as of the Amendment No. 1 Effective Date;
(c)    the Administrative Agent shall have received such other documents and certificates as the Administrative Agent or its counsel may reasonably request relating to the organization, existence and good standing of each Loan Party and the authorization of this Amendment No. 1 and amendment of the Credit Agreement and the other transactions contemplated hereby, all in form and substance reasonably satisfactory to the Administrative Agent;
(d)    a completed “Life-of-Loan” Federal Emergency Management Agency Standard Flood Hazard Determination with respect to the Mortgaged Property (together with a notice about special flood hazard area status and flood disaster assistance duly executed by the Borrower and the applicable Loan Party relating thereto) and, if any such Mortgaged Property is located in a special flood hazard area, evidence of flood insurance to the extent required pursuant to the last sentence of Section 6.07 of the Credit Agreement;
(e)    the Administrative Agent shall have received favorable customary legal opinions from (i) Cleary Gottlieb Steen & Hamilton LLP, New York counsel to the Loan Parties, (ii) Ice Miller LLP, Indiana counsel to the Loan Parties, (iii) Young Conaway Stargatt & Taylor, LLP, Delaware counsel to the Loan Parties and (iv) Gunster, Yoakley & Stewart, PA, Florida counsel to the Loan Parties, in each case, as to any matter reasonably requested by the Administrative Agent, addressed to the Lenders and the Administrative Agent, dated the Amendment No. 1 Effective Date and in form and substance reasonably satisfactory to the Administrative Agent, which the Loan Parties hereby request such counsel to deliver; 
(f)    the Administrative Agent and the arrangers of this Amendment No. 1, as applicable, shall have received (i) payment of all fees and other amounts due and payable on or prior to the Amendment No. 1 Effective Date and (ii) to the extent invoiced at least one (1) Business Day prior to the Amendment No. 1 Effective Date, reimbursement or payment of all reasonable and documented out-of-pocket costs and expenses required to be reimbursed or paid by the Borrower hereunder or under any other Loan Document, including the reasonable fees, charges and disbursements of counsel for the Administrative Agent; 
(g)    the Administrative Agent shall have received, for the account of (i) the Additional Term Lender (or shall be satisfied with the arrangements for the payment of), an upfront fee in Dollars equal to 0.25% of the aggregate principal amount of the Additional Dollar Term B-2 Loan Commitment and (ii) each Converting Dollar Term B-1 Lender (or shall be satisfied with the arrangements for the payment of), an upfront fee in Dollars equal to 0.25% of the aggregate principal amount of the Converted Dollar Term B-1 Loans or such Lender; 
(h)    the full borrowing of the Dollar Term B-2 Loans pursuant to the Second Incremental Amendment shall have occurred; and
(i)    the Administrative Agent shall have received a Committed Loan Notice with respect to the Dollar Term B-2 Loans to be borrowed pursuant to the Additional Dollar Term B-2 Loan Commitment. 

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The Administrative Agent shall notify the Borrower and the Lenders of the Amendment No. 1 Effective Date, and such notice shall be conclusive and binding.
SECTION 5.    Post-Closing Conditions.   Within 90 days after the Amendment No. 1 Effective Date (or such longer period of time as may be agreed by the Administrative Agent), with respect to each existing Mortgage, the Borrower shall provide the Administrative Agent with such documentation with respect to the Mortgaged Property, in each case in form and substance reasonably acceptable to the Administrative Agent, as shall confirm the enforceability, validity and perfection of the lien in favor of the Secured Parties after giving effect to this Amendment No. 1, including, without limitation, either:
(a)    a favorable opinion, addressed to the Administrative Agent and each of the Secured Parties, in form and substance reasonably satisfactory to the Administrative Agent, from local counsel in the jurisdiction in which the Mortgaged Property is located substantially to the effect that:
(i)    the recording of the existing Mortgage is the only filing or recording necessary to give constructive notice to third parties of the lien created by such Mortgage as security for the Obligations, including the Obligations evidenced by the Credit Agreement, as amended pursuant to this Amendment No. 1, and the other documents executed in connection therewith, for the benefit of the Secured Parties; and
(ii)    no other documents, instruments, filings, recordings, re-recordings, re-filings or other actions, including, without limitation, the payment of any mortgage recording taxes or similar taxes, are necessary or appropriate under applicable law in order to maintain the continued enforceability, validity or priority of the lien created by such Mortgage as security for the Obligations, including the Obligations evidenced by the Credit Agreement, as amended pursuant to this Amendment No. 1, and the other documents executed in connection therewith, for the benefit of the Secured Parties; or
(iii)     each of the following:
(iv)    execute or cause the applicable Loan Party to execute an amendment to each existing Mortgage (each, a “Mortgage Amendment”), and in form for recording in the recording office where such Mortgage was recorded, together with such certificates, affidavits, questionnaires or returns as shall be required in connection with the recording or filing thereof under applicable law, in each case in form and substance reasonably satisfactory to the Administrative Agent;
(v)    cause to be delivered a favorable opinion of counsel to the Loan Parties, addressed to the Administrative Agent and the Secured Parties party to the Credit Agreement covering, among other things, the due authorization, execution, delivery and enforceability of each Mortgage as amended by the applicable Mortgage Amendment, and otherwise in form and substance reasonably satisfactory to the Administrative Agent;
(vi)    cause to be delivered a date down endorsement to each existing title insurance policy, which shall be in form and substance reasonably satisfactory to the Administrative Agent and reasonably assure the Administrative Agent as of the date of such endorsement that the Mortgaged Property subject to the lien of such Mortgage is free and clear of all defects and encumbrances except those Liens permitted under such Mortgage;

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(vii)    cause to be delivered to the Administrative Agent such affidavits, certificates, information and instruments of indemnification as shall be required to induce the title insurance company to issue the endorsements to the title insurance policies contemplated in this Section 6 and evidence of payment of all applicable title insurance premiums, search and examination charges, mortgage recording taxes and related charges required for the issuance of the endorsements to the title insurance policies contemplated in this Section 6; and
(viii)    provide to the Administrative Agent evidence of payment by Borrower of all search and examination charges escrow charges and related charges, mortgage recording taxes, fees, charges, costs and expenses required for the recording of the Mortgage Amendments referred to above.
SECTION 6.    Reaffirmation of Guaranty and Security.  The Borrower and each other Loan Party, by its signature below, hereby (a) agrees that, notwithstanding the effectiveness of this Amendment No. 1 or the Credit Agreement, after giving effect to this Amendment No. 1, the Collateral Documents continue to be in full force and effect and (b) affirms and confirms all of its obligations and liabilities under the Credit Agreement and each other Loan Document, in each case after giving effect to this Amendment No. 1, including its guarantee of the Obligations and the pledge of and/or grant of a security interest in its assets as Collateral pursuant to the Collateral Documents to secure such Obligations (including the Incremental Term Loans), all as provided in the Collateral Documents as originally executed, and acknowledges and agrees that such obligations, liabilities, guarantee, pledge and grant continue in full force and effect in respect of, and to secure, such Obligations under the Credit Agreement and the other Loan Documents, in each case after giving effect to this Amendment No. 1.
SECTION 7.    Reference to Agreement.  From and after the Amendment No. 1 Effective Date, the terms “Agreement”, “this Agreement”, “herein”, “hereinafter”, “hereto”, “hereof” and words of similar import, as used in the Credit Agreement, shall, unless the context otherwise requires, refer to the Credit Agreement as amended hereby, and the term “Credit Agreement”, as used in the other Loan Documents, shall mean the Credit Agreement as amended hereby and as may be further amended, supplemented or otherwise modified from time to time. For the avoidance of doubt, any references to “the date hereof” in the Credit Agreement shall refer to August 2, 2012.
SECTION 8.    Counterparts.  This Amendment No. 1 may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Delivery by telecopy or other electronic image scan transmission of an executed counterpart of a signature page to this Amendment No. 1 shall be effective as delivery of an original executed counterpart of this Amendment No. 1. The Administrative Agent may also require that any such documents and signatures delivered by telecopy or other electronic image scan transmission be confirmed by a manually signed original thereof; provided that the failure to request or deliver the same shall not limit the effectiveness of any document or signature delivered by telecopy or other electronic image scan transmission.
SECTION 9.    Governing Law.  THIS AMENDMENT NO. 1 SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
SECTION 10.    Jurisdiction.  ANY LEGAL ACTION OR PROCEEDING ARISING UNDER THIS AMENDMENT NO. 1 OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH 

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RESPECT TO THIS AMENDMENT NO. 1, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK CITY OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF SUCH STATE, AND BY EXECUTION AND DELIVERY OF THIS AMENDMENT NO. 1, THE BORROWER, HOLDINGS, EACH OTHER GUARANTOR, THE ADMINISTRATIVE AGENT AND EACH LENDER CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THOSE COURTS AND AGREES NOT TO COMMENCE ANY SUCH LEGAL ACTION OR PROCEEDING IN ANY OTHER JURISDICTION, TO THE EXTENT PERMITTED BY APPLICABLE LAW.  THE BORROWER, HOLDINGS, EACH OTHER GUARANTOR, THE ADMINISTRATIVE AGENT AND EACH LENDER IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF THIS AMENDMENT NO. 1 OR OTHER DOCUMENT RELATED THERETO.
SECTION 11.    Headings.  The headings of this Amendment No. 1 are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.
SECTION 12.    No Novation.  This Amendment No. 1 shall not extinguish the Obligations for the payment of money outstanding under the Credit Agreement or discharge or release the lien or priority of any Loan Document or any other security therefor or any guarantee thereof, and the liens and security interests existing immediately prior to the Amendment No. 1 Effective Date in favor of the Administrative Agent for the benefit of the Secured Parties securing payment of the Obligations are in all respects continuing and in full force and effect with respect to all Obligations.  Nothing herein contained shall be construed as a substitution or novation, or a payment and reborrowing, or a termination, of the Obligations outstanding under the Credit Agreement or instruments guaranteeing or securing the same, which shall remain in full force and effect, except as modified hereby or by instruments executed concurrently herewith.  Nothing expressed or implied in this Amendment No. 1 or any other document contemplated hereby or thereby shall be construed as a release or other discharge of the Borrower under the Credit Agreement or the Borrower or any other Loan Party under any Loan Document from any of its obligations and liabilities thereunder, and such obligations are in all respects continuing with only the terms being modified as provided in this Amendment No. 1.  The Credit Agreement and each of the other Loan Documents shall remain in full force and effect, until and except as modified hereby.  This Amendment No. 1 shall constitute a Loan Document for all purposes of the Credit Agreement. Each Guarantor further agrees that nothing in the Credit Agreement, this Amendment No. 1 or any other Loan Document shall be deemed to require the consent of such Guarantor to any future amendment to the Credit Agreement.
SECTION 13.    Notices.  All communications and notices hereunder shall be given as provided in the Credit Agreement.
SECTION 14.    Severability.  If any provision of this Amendment No. 1 is held to be illegal, invalid or unenforceable, the legality, validity and enforceability of the remaining provisions of this Amendment No. 1 and the other Loan Documents shall not be affected or impaired thereby. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

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SECTION 15.    Successors.  The terms of this Amendment No. 1 shall be binding upon, and shall inure for the benefit of, the parties hereto and their respective successors and assigns.
SECTION 16.    No Waiver.  Except as expressly set forth herein, this Amendment No. 1 shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Agents under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision of the Credit Agreement or of any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect.  Nothing herein shall be deemed to entitle the Borrower to receive a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances.
[Remainder of this page intentionally left blank]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 1 to be duly executed by their duly authorized officers, all as of the date and year first above written.
	
	
	BIOMET, INC.

	 

	 

	By: _/s/ Daniel P. Florin

	Name:  Daniel P. Florin

	Title:    Senior Vice President and Chief Financial  
           Officer

	
	
	LVB ACQUISITION, INC.

	 

	 

	By: _/s/ Daniel P. Florin

	Name:  Daniel P. Florin

	Title:    Senior Vice President and Chief Financial  
           Officer

[Amendment No. 1]

	
	
	EACH OF THE LOAN PARTIES LISTED BELOW, hereby consents to the entering into of this Amendment No. 1 and agrees to the provisions hereof:
    BIOMET 3I, LLC 
BIOMET BIOLOGICS, LLC 
BIOMET EUROPE LTD. 
BIOMET FAIR LAWN LLC 
BIOMET FLORIDA SERVICES, LLC  
BIOMET INTERNATIONAL LTD. 
BIOMET LEASING, INC. 
BIOMET MANUFACTURING, LLC 
BIOMET MICROFIXATION, LLC 
BIOMET ORTHOPEDICS, LLC 
BIOMET SPORTS MEDICINE, LLC 
BIOMET U.S. RECONSTRUCTION, LLC 
BIOMET TRAUMA, LLC 
CROSS MEDICAL PRODUCTS, LLC 
EBI HOLDINGS, LLC 
EBI, LLC 
EBI MEDICAL SYSTEMS, LLC 
ELECTRO-BIOLOGY, LLC 
IMPLANT INNOVATIONS HOLDINGS, LLC INTERPORE CROSS INTERNATIONAL, LLC 
INTERPORE SPINE LTD. 
KIRSCHNER MEDICAL CORPORATION

	 

	 

	By: _/s/ Daniel P. Florin

	Name:  Daniel P. Florin

	Title:    Senior Vice President and Chief Financial  
           Officer

[Amendment No. 1]

	
	
	BANK OF AMERICA, N.A., as Administrative Agent

	 

	 

	By: _/s/ Alysa A. Trakas______

	Name:  Alysa A. Trakas

	Title:     Director

[Amendment No. 1]

	
	
	BANK OF AMERICA, N.A., as Additional Dollar Term B-2 Lender

	 

	 

	By: _/s/ Alysa A. Trakas____

	Name:  Alysa A. Trakas

	Title:     Director

[Amendment No. 1]

The undersigned hereby consents to Amendment No. 1 and, to the extent indicated below (but solely to the extent this counterpart has been countersigned by the Administrative Agent), consents to convert its Dollar Term B-1 Loan into a Dollar Term B-2 Loan on the Amendment No. 1 Effective Date.

                        
BANK OF AMERICA, N.A.

By: _/s/ Alysa A. Trakas_______________________    
	
	
	Name:  Alysa A. Trakas

	Title:     Director

[The above named Lender hereby consents to convert its Dollar Term B-1 Loan to a Dollar Term B-2 Loan on the Amendment No. 1 Effective Date pursuant to Section 1 of Amendment No. 1 (indicate by inserting “X” in box below):    

Accepted and Agreed to:

BANK OF AMERICA, N.A.

By: __________________________________
      Name:
                                         Title:]1 

1    Only required to be completed for Lenders converting Dollar Term B-1 Loans to Dollar Term B-2 Loans.

[Amendment No. 1]

 [EXECUTED SIGNATURE PAGES OF ADDITIONAL TERM LENDERS ON FILE WITH THE ADMINISTRATIVE AGENT]

[Amendment No. 1]

EXHIBIT A
FORM OF
COMMITTED LOAN NOTICE
		
	To:
	Bank of America, N.A., as Administrative Agent 
101 N. Tryon St. 
NC1-001-05-46 
Charlotte, NC 28255 
Attention:  Brian Grueling

[Date]
Ladies and Gentlemen:
Reference is made to the Credit Agreement dated as of September 25, 2007, as amended and restated as of August 2, 2012 and as further amended by the First Incremental Term Facility Amendment dated as of December 27, 2012 and the Second Incremental Term Facility Amendment dated as of September 25, 2013 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Biomet, Inc., an Indiana corporation (the “Borrower”), LVB Acquisition, Inc., a Delaware corporation (“Holdings”), Bank of America, N.A., as administrative agent (in such capacity, the “Administrative Agent”), Swing Line Lender and L/C Issuer, each lender from time to time party thereto, and each other party from time to time party thereto.  Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement.
The undersigned, on behalf of the Borrower, hereby gives you notice, irrevocably, pursuant to Section 2.02(a) of the Credit Agreement that it hereby requests (select one):
		
	•
	A Borrowing of new Loans 

		
	•
	A conversion of Loans

		
	•
	A continuation of Loans

to be made on the terms set forth below:  
	
			
	(A)
	Class of Borrowing
	Dollar Term B-2 Loans

	(B)
	Date of Borrowing, conversion or 
continuation (which is a Business Day)
	                                        

	(C)
	Principal amount2
	$2,111,459,354.69

	(D)
	Type of Loan3
	                                        

	(E)
	Interest Period4
	                                        

2    Eurocurrency Rate Loans shall be in minimum of $2,500,000.
3    Specify Eurocurrency or Base Rate. 
4    Applicable for Eurocurrency Borrowings/Loans only.

Ex. A-1

The above request has been made to the Administrative Agent by telephone at (980) 386-3767. 

Ex. A-2

	
		
	BIOMET, INC.

	By:                                                         

	 
	Name:

	 
	Title:

[Committed Loan Notice]

Ex. A-3ex101.htm

Exhibit 10.1

 

FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

 

FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) dated as of September 26, 2013, among STANDARD PACIFIC CORP., a Delaware corporation (the “Borrower”), JPMORGAN CHASE BANK, N.A., as a Class A Lender (“JPM”), CITICORP NORTH AMERICA, INC., as a Class A Lender  (“Citi”), BANK OF AMERICA, N.A., as a Class A Lender (“BOA”), CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Class A Lender (“CS”), DEUTSCHE BANK TRUST COMPANY AMERICAS, as a Class B Lender (“DB”), COMERICA BANK, as a Class A Lender (“Comerica), UNION BANK, N.A., as a Class A Lender (“Union Bank”) and BANK OF THE WEST, as a Class A Lender (“BOTW”, and together with JPM, Citi, BOA, CS, Comerica, Union Bank and DB, and any other party who becomes a Lender to the Credit Agreement (as defined below) after the date hereof pursuant to Section 10.6 of the Credit Agreement, collectively, the “Lenders”), JPMORGAN CHASE BANK, N.A., as administrative agent on behalf of the Lenders (in such capacity, together with its successors and assigns in such capacity, the “Administrative Agent”), and as Swingline Lender and as Issuing Lender, and J.P. MORGAN SECURITIES LLC and CITIBANK GLOBAL MARKETS, INC., as Joint Lead Arrangers and Joint Lead Bookrunners, and BANK OF AMERICA, N.A., as Syndication Agent.

 

RECITALS:

 

A.           The Borrower, the Administrative Agent and the Lenders are parties to that certain Amended and Restated Credit Agreement, dated as of October 19, 2012 (as amended, modified and supplemented and in effect from time to time, the “Credit Agreement”; and, except as otherwise herein expressly provided, all capitalized terms used herein shall have the meaning assigned to such terms in the Credit Agreement), which Credit Agreement provides, among other things, for loans and other extensions of credit to be made by the Lenders to the Borrower in an aggregate amount of up to $350,000,000.

 

B.           The Borrower, the Administrative Agent and the Lenders desire to, among other things, remove the borrowing base, modify the mandatory prepayment provisions and add an alternative minimum liquidity covenant.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 

Section 1. Amendment of Credit Agreement.  Effective as of the Effective Date (as hereinafter defined), the Credit Agreement is hereby amended as follows:

 

(a) The following defined terms in Section 1.1 of the Credit Agreement are hereby deleted in their entirety, and all references thereto in the Credit Agreement are hereby deemed deleted and shall have no further force and effect:

 

“Borrowing Base”

 

“Borrowing Base Availability”

 

“Borrowing Base Certificate”

 

“Borrowing Base Debt”

 

  

  

  

 

“Escrow Proceeds Receivable”

 

“Mandatory Prepayment Period”

 

“Mandatory Prepayment Test Debt”

 

“Overadvance Amount”

 

(b)  The following defined terms are added to Section 1.1 of the Credit Agreement as follows:

 

“Liquidity” shall mean, at any time, the sum of all Unrestricted Cash held by Borrower and its consolidated Subsidiaries (excluding the Excluded Subsidiaries).

 

“Mandatory Prepayment Test Assets”: means, collectively, all Completed Units, Entitled Land, Finished Lots, Land Under Development, Model Units, Speculative Units, Units Under Construction and Units Under Contract.

 

(c) Section 2.1(a) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

(a) Subject to the terms and conditions hereof, each Lender severally agrees to make revolving credit loans (“Revolving Loans”) to the Borrower from time to time during the Commitment Period in an aggregate principal amount at any one time outstanding which, when added to such Lender’s Revolving Percentage of the sum of (i) the L/C Obligations then outstanding and (ii) the aggregate principal amount of the Swingline Loans then outstanding, and after giving effect to the proposed Revolving Loan and application of the proceeds thereof to the repayment of any outstanding Obligations, does not exceed the amount of such Lender’s Commitment.  During the Commitment Period, Borrower may use the Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof.  The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by Borrower and notified to Administrative Agent in accordance with Sections 2.2 and 2.9.

 

(d) Section 2.3(a) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

(a) Subject to the terms and conditions hereof, the Swingline Lender agrees to make a portion of the credit otherwise available to the Borrower under the Commitments from time to time during the Commitment Period by making swingline loans (“Swingline Loans”) to the Borrower; provided that (i) the aggregate principal amount of 

 

  

2

  

 

Swingline Loans outstanding at any time shall not exceed the Swingline Commitment then in effect (notwithstanding that the Swingline Loans outstanding at any time, when aggregated with the Swingline Lender’s other outstanding Revolving Loans, may exceed the Swingline Commitment then in effect) and (ii) the Borrower shall not request, and the Swingline Lender shall not make, any Swingline Loan if, after giving effect to the making of such Swingline Loan, the aggregate amount of the Available Commitments would be less than zero.  During the Commitment Period, the Borrower may use the Swingline Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof.  Swingline Loans shall be ABR Loans only.

 

(e) Section 2.6(b) of the Credit Agreement is hereby deleted in its entirety and replaced with the words “Intentionally Omitted”.

 

(f) Section 2.8 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

2.8           Mandatory Prepayments.  If and to the extent at the end of a fiscal quarter:

 

(i)             the sum of, (A) the outstanding indebtedness under the 2016 Indenture, plus (B) the Outstanding Amount (excluding the amount of L/C Obligations under Performance Letters of Credit) under this Agreement, plus (C) unsecured Consolidated Debt that (x) contains any financial covenant or test which when not met results in an Event of Default and (y) has a maturity date on or prior to the Class A Revolving Facility Termination Date, plus (D) funded debt of the Borrower and its Subsidiaries (excluding the Excluded Subsidiaries) that contains a permitted lien provision that is more restrictive than Sections 6.02(b)(i) and (c) of the Borrower’s 2021 senior note indenture as in effect on the date hereof with respect to the amount of funded debt that may be secured by liens without securing such funded debt equally and ratably, exceeds

 

(ii)           an amount equal to 60% of the book value of the Mandatory Prepayment Test Assets,

 

then, the Borrower shall reduce the Outstanding Amount by the amount of such excess.

 

Amounts to be applied in connection with prepayments made pursuant to this Section 2.8 shall be applied, first, to the prepayment of Swingline Loans, second, to the prepayment of Revolving Loans, and third, if the aggregate principal amount of Revolving Loans and Swingline Loans then-outstanding is less than the amount of such amount prepaid (because L/C Obligations constitute a portion thereof), Borrower shall, to the extent of the balance, replace outstanding Letters of Credit and/or Cash 

 

  

3

  

 

Collateralize such L/C Obligations in an amount not less than the Minimum Collateral Amount.  Mandatory prepayments hereunder shall be applied pro rata between the Class A Revolving Loans and the Class B Revolving Loans based on each Lender’s Revolving Percentage.

 

(g) Section 3.1(a) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

(a) Subject to the terms and conditions hereof, the Issuing Lender, in reliance on the agreements of the other Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) for the account of the Borrower (and on behalf of the Borrower or any Subsidiary or Homebuilding Joint Venture) on any Business Day during the Commitment Period in such form as may be approved from time to time by the Issuing Lender acting reasonably; provided that the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Commitments would be less than zero.   Each Letter of Credit shall (i) be denominated in Dollars, (ii) have a face amount of at least $5,000 (unless otherwise agreed by the relevant Issuing Lender) and (iii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is 364 days after to the Class A Revolving Facility Termination Date, provided (A) that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above) and (B) at least 90 days prior to the Class A Revolving Facility Termination Date, Borrower shall, to the extent of the balance, replace outstanding Letters of Credit and/or deposit an amount equal to 100% of such balance in cash in a cash collateral account established with Administrative Agent for the benefit of the Lenders on terms and conditions satisfactory to Administrative Agent.

 

(h) Section 5.2(c) of the Credit Agreement is hereby deleted in its entirety and replaced with the words “Intentionally Omitted”.

 

(i) Section 5.2(d) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

(d)           Commitment.  After giving effect to such Loan or Letter of Credit, (i) the L/C Obligations shall not exceed the L/C Commitment and (ii) the aggregate outstanding principal amount of Loans 

 

(j) Section 6.1(l) of the Credit Agreement is hereby deleted in its entirety.

 

(k) Section 7.7(d) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

  

4

  

 

(d)           other properties sold, assigned, exchanged, transferred, leased, or otherwise disposed of for fair value with an aggregate value that does not exceed, in any period of twelve (12) consecutive months, (i) subject to the effect of the following clause (ii), ten percent (10%) of Consolidated Total Assets as of the date of disposition or (ii) if, at least ten (10) business days prior to any such disposition, Borrower delivers to Administrative Agent a pro forma balance sheet and calculations evidencing that, after giving effect to such disposition, Borrower would not trigger the mandatory prepayment provisions set forth in Section 2.8, twenty percent (20%) of Consolidated Total Assets as of the date of such disposition.

 

(l) Section 7.11 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

7.11           Liquidity and Consolidated Interest Expense.

As of the last day of any Measurement Period, commencing with September 30, 2013, Borrower shall comply with either one of the following:

 

 

(a) Liquidity.  Liquidity shall not be less than (i) Consolidated Interest Expense less (ii) non-cash interest expense for the Measurement Period ending as of such Test Date; or

 

 

(b) Consolidated Interest Expense.  For the Measurement Period ending on such Test Date, the Interest Coverage Ratio shall not be less than the ratio set forth opposite such date below.

 

	
Date

	 	
Interest Coverage Ratio

	  	 	  
	
December 31, 2012 thru December 31, 2013

	 	
1.00 to 1.00

	
March 31, 2014 and thereafter

	 	
1.25 to 1.00

 

(m) Section 8(c) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

(c) any Loan Party shall default in the observance or performance of any agreement contained in Section 6.3 (with respect to Borrower only), Section 7.1, 7.3, 7.4, 7.6, 7.8, 7.10, 7.11, 7.12 or 7.13 of this Agreement or Section 1 of the Guarantee Agreement

 

(n) Section 8(j) of the Credit Agreement is hereby deleted in its entirety and replaced with the words “Intentionally Omitted”.

 

  

5

  

 

Section 2. Effective Date.  Subject to the satisfaction of the conditions set forth in Section 4 hereof, this Amendment shall be effective as of the date of this Amendment (the “Effective Date”).

 

Section 3. Representations.  The Borrower hereby represents and warrants to the Administrative Agent and the Lenders, as follows:

 

(a) Each of the representations and warranties contained in the Credit Agreement, as amended by this Amendment, or any of the other Loan Documents, is true and correct in all material respects on and as of the date hereof except if any such representation or warranty was made as of a specific date, then the same shall have been true and correct in all material respects as of such specific date;

 

(b) As of the date hereof and immediately after giving effect to this Amendment and the actions contemplated hereby, no Default or Event of Default has occurred and is continuing;

 

(c) Borrower has all necessary corporate power and authority to execute, deliver and perform its obligations under this Amendment; the execution, delivery and performance of this Amendment has been duly authorized by all necessary corporate action on the part of Borrower; and this Amendment has been duly and validly executed and delivered by Borrower and constitutes the legal, valid and binding obligation of Borrower, enforceable in accordance with its respective terms, except as such enforceability may be limited by (i) bankruptcy, insolvency, reorganization, moratorium or similar laws of general applicability affecting the enforcement of creditors’ rights and (ii) the application of general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law); and

 

(d) This Amendment (i) does not require any consent or approval of, registration or filing with, or any other action by, any governmental authority, except for such as have been obtained or made and are in full force and effect, (ii) will not violate any applicable law or regulation, the certificate of incorporation or by-laws of Borrower, or any order of any governmental authority and (iii) will not violate or result in a default under any obligation owed under, any indenture or loan or credit agreement or any other material agreement, lease, or instrument to which Borrower, any Subsidiary (other than an Excluded Subsidiary), or any Guarantor is a party or by which Borrower, any such Subsidiary, or any Guarantor, or any property of Borrower, any such Subsidiary, or any Guarantor, is bound or affected.

 

Section 4. Conditions to the Effectiveness of this Agreement.  It shall be a condition precedent to the effectiveness of this Amendment that each of the following conditions are satisfied:

 

(a) the parties hereto shall have executed and delivered counterparts of this Amendment to the Administrative Agent;

 

(b) each Guarantor shall have executed and delivered a Reaffirmation of Amended and Restated Guaranty, in the form of the Reaffirmation of Amended and Restated Guaranty attached hereto as Exhibit A;

 

  

6

  

 

(c) the Administrative Agent shall have received such opinions as Administrative Agent may require (which opinions may be provided by in-house counsel to Borrower) concerning the due authorization, execution, delivery and enforceability of this Amendment and any other amendments, modifications and supplements to the Loan Documents entered into in connection herewith;

 

(d) no Default or Event of Default shall exist as of the Effective Date;

 

(e) Borrower shall have delivered to the Administrative Agent (i) a duly executed Compliance Certificate for the period ending June 30, 2013 demonstrating compliance with the financial covenants contained in the Credit Agreement, as amended by this Amendment, and (ii) a duly executed certificate executed by a Responsible Officer of Borrower demonstrating compliance with provisions of Section 2.8 of the Credit Agreement, as amended by this Amendment, and the calculations thereof; and

 

(f) Borrower shall have paid to the Administrative Agent all of the Administrative Agent’s reasonable out of pocket costs and expenses, including legal fees, incurred in connection with this Amendment.

 

Section 5. Reaffirmation and Ratification.  Borrower hereby: (a) reaffirms, ratifies, confirms, and acknowledges its obligations under the Loan Documents and agrees to continue to be bound thereby and perform thereunder; (b) agrees and acknowledges that all such Loan Documents and all of Borrower’s obligations thereunder are and remain in full force and effect and, except as expressly provided herein, have not been modified; and (c) acknowledges and agrees that to its knowledge it has no defenses, offsets or counterclaims of any kind or nature whatsoever to its obligations under the Loan Documents.

 

Section 6. Miscellaneous.

 

(a) GOVERNING LAW.  THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

(b) Amendments, Etc.  The terms of this Amendment may be waived, modified and amended only by an instrument in writing duly executed by Borrower and the Administrative Agent (with any required consent of the Lenders pursuant to the Credit Agreement).  Any such waiver, modification or amendment shall be binding upon Borrower, the Administrative Agent and each Lender (including the Swingline Lender and Issuing Lender).

 

(c) Successors and Assigns.  This Amendment shall be binding upon and inure to the benefit of the respective successors and assigns of Borrower, the Administrative Agent and the Lenders (including the Swingline Lender and Issuing Lender).

 

(d) Captions.  The captions and section headings used herein are for convenience of reference only, are not part of this Amendment and shall not affect the construction of, or be taken into consideration in interpreting, this Amendment.

 

  

7

  

 

(e) Counterparts.  This Amendment may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Amendment by signing any such counterpart.  Delivery of an executed signature page of this Amendment by facsimile transmission or electronic transmission (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart hereof.

 

(f) Severability.  Any provision of this Amendment held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

 

[Signature pages follow]

 

  

8

  

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

 

 

	 	STANDARD PACIFIC CORP., as Borrower
	 	  	  
	 	
By:

	
/s/ JEFF J. MCCALL

	 	  	
Name: Jeff J. McCall

	 	  	
Title:   Executive Vice President & CFO

	 	 	 
	 	
By:

	/s/ DAVID VAZQUEZ
	 	 	Name: David Vazquez
	 	 	Title:   Vice President - Treasury

Signature Page to First Amendment – Standard Pacific Corp.

 

  

  

  

 

 

	 	
JPMORGAN CHASE BANK, N.A., as Administrative Agent, Issuing Lender, Swingline Lender and as a Class A Lender

	 	  	  
	 	
By:

	
/s/ MOHAMMAD S. HASAN

	 	  	
Name: Mohammad S. Hasan

	 	  	
Title:   Vice President

 

Signature Page to First Amendment – Standard Pacific Corp.

 

  

  

  

 

 

	 	

CITICORP NORTH AMERICA, INC., as a Class A Lender

	 	  	  
	 	
By:

	
/s/ MICHAEL CHLOPAK

	 	  	
Name: Michael Chlopak

	 	  	
Title:   Vice President

 

Signature Page to First Amendment – Standard Pacific Corp.

 

  

  

  

 

 

	 	

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

	 	  	  
	 	
By:

	
/s/ ANN E. KENZIE

	 	  	
Name: Ann E. Kenzie

	 	  	
Title:   Vice President

Signature Page to First Amendment – Standard Pacific Corp.

 

  

  

  

 

 

	 	

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender

	 	  	  
	 	
By:

	
/s/ BILL O'DALY

	 	  	
Name: Bill O'Daly

	 	  	
Title:   Director

	 	 	 
	 	By:	/s/ PHILIPP HORAT
	 	 	Name: Philipp Horat
	 	 	 Title: Authorized Signatory

 

Signature Page to First Amendment – Standard Pacific Corp.

 

  

  

  

 

	 	

COMERICA BANK, as a Class A Lender

	 	  	  
	 	
By:

	
/s/ JONATHAN R. WARD

	 	  	
Name: Jonathan R. Ward

	 	  	
Title:   VP - Western Market

 

Signature Page to First Amendment – Standard Pacific Corp.

 

  

  

  

 

REAFFIRMATION OF AMENDED AND RESTATED GUARANTY

 

As consideration for the agreements and covenants contained in the within Amendment, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each of the undersigned (“Guarantor”), as a guarantor under that certain Amended and Restated Guaranty, dated as of October 19, 2012 (the “Guaranty”), delivered to the Administrative Agent in connection with the extension of credit made by the Lenders pursuant to the Credit Agreement referred to above, hereby acknowledges, covenants and agrees as follows:

 

1. By the execution hereof, such Guarantor hereby consents to the within Amendment and all the modifications to the Loan Documents contemplated in connection therewith.

 

2. References to the Guaranty in any or all of the Loan Documents shall be deemed to include references to the Guaranty as reaffirmed and ratified by this Reaffirmation of Amended and Restated Guaranty.

 

3. Such Guarantor reaffirms that the Guaranty remains unchanged and in full force and effect.

 

4. Such Guarantor reaffirms all of its respective obligations contained in the Guaranty, which shall remain in full force and effect for all the obligations of such Guarantor now or hereafter owing to Administrative Agent (on behalf of the Lenders) pursuant to the terms and conditions of the Guaranty and acknowledges, agrees, represents and warrants that no agreements exist with respect to the Guaranty or with respect to the obligations of the Guarantor thereunder except those specifically set forth in this Reaffirmation of Amended and Restated Guaranty.

 

5. As of the date hereof and immediately after giving effect to this Amendment and the actions contemplated thereby, each of the representations and warranties of such Guarantor contained in the Guaranty, as amended by this Amendment, are true and correct in all material respects.

 

6. Such Guarantor acknowledges and agrees that it has entered into and delivered this Reaffirmation of Amended and Restated Guaranty of Guarantor’s own free will, voluntarily and without coercion or duress of any kind, and has been represented in connection herewith by counsel of its choice and is fully aware of the terms contained in this Reaffirmation of Amended and Restated Guaranty.

 

 

[Signature pages follow.]

 

 

 

 

  

  

  

 

IN WITNESS WHEREOF, each Guarantor has caused this Reaffirmation of Amended and Restated Guaranty to be duly executed and delivered as of this September 26, 2013.

 

GUARANTORS:

STANDARD PACIFIC OF COLORADO, INC.;

HSP ARIZONA, INC.;

HWB INVESTMENTS, INC.;

STANDARD PACIFIC OF ARIZONA, INC.;

STANDARD PACIFIC OF FLORIDA GP, INC.;

STANDARD PACIFIC OF LAS VEGAS, INC.;

STANDARD PACIFIC OF ORANGE COUNTY, INC.;

STANDARD PACIFIC OF SOUTH FLORIDA GP, INC.;

STANDARD PACIFIC OF TAMPA GP, INC.;

STANDARD PACIFIC OF TEXAS, INC.;

STANDARD PACIFIC OF WALNUT HILLS, INC.;

STANDARD PACIFIC INVESTMENT CORP.;

STANDARD PACIFIC 1, INC.;

WESTFIELD HOMES USA, INC.

 

	 	
By:

	
/s/ JEFF J. MCCALL

	 	Name:	
Jeff J. McCall

	 	Title:	
Principal Financial & Accounting Officer

 

HILLTOP RESIDENTIAL, LTD

By:           Residential Acquisition GP, LLC

By:           Standard Pacific of South Florida

By:           Standard Pacific of South Florida GP, Inc.

 

 

	 	
By:

	
/s/ JEFF J. MCCALL

	 	Name:	
Jeff J. McCall

	 	Title:	
Principal Financial & Accounting Officer

[Signatures Continued on Next Page]

 

Signature page to Reaffirmation of Amended and Restated Guaranty

 

  

  

  

SP TALEGA, LLC

By:           Standard Pacific of Orange County, Inc.

 

	 	
By:

	
/s/ JEFF J. MCCALL

	 	Name:	
Jeff J. McCall

	 	Title:	
Principal Financial & Accounting Officer

 

 

STANDARD PACIFIC OF THE CAROLINAS, LLC

By:           Westfield Homes USA, Inc.

 

	 	
By:

	
/s/ JEFF J. MCCALL

	 	Name:	
Jeff J. McCall

	 	Title:	
Principal Financial & Accounting Officer

 

 

STANDARD PACIFIC OF FLORIDA;

STANDARD PACIFIC OF SOUTH FLORIDA

By:           Standard Pacific of Florida GP, Inc.

 

	 	
By:

	
/s/ JEFF J. MCCALL

	 	Name:	
Jeff J. McCall

	 	Title:	
Principal Financial & Accounting Officer

 

 

STANDARD PACIFIC OF TAMPA

By:           Standard Pacific of Tampa GP, Inc.

 

	 	
By:

	
/s/ JEFF J. MCCALL

	 	Name:	
Jeff J. McCall

	 	Title:	
Principal Financial & Accounting Officer

[Signatures Continued on Next Page]

 

Signature page to Reaffirmation of Amended and Restated Guaranty

 

  

  

  

TERRA/WINDING CREEK, LLC

By:           Standard Pacific of Texas, Inc.

 

	 	
By:

	
/s/ JEFF J. MCCALL

	 	Name:	
Jeff J. McCall

	 	Title:	
Principal Financial & Accounting Officer

 

BARRINGTON ESTATES, LLC;

CAMARILLO VILLAGE PARK, LLC;

HARBOR HIGHLANDS GROUP, LLC;

LAGOON VALLEY RESIDENTIAL, LLC;

MENIFEE DEVELOPMENT, LLC;

LB/L-DUC III ANTIOCH 330, LLC;

STANDARD PACIFIC OF TONNER HILLS, LLC

By:           Standard Pacific Corp.

 

	 	
By:

	
/s/ JEFF J. MCCALL

	 	Name:	
Jeff J. McCall

	 	Title:	
Principal Financial & Accounting Officer

[End of Signature Pages]

 

 

 

 

Signature page to Reaffirmation of Amended and Restated Guaranty

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