Document:

ulh-ex106_6.htm

 

 

Exhibit 10.6

FIRST AMENDMENT TO GUARANTY

This First Amendment to Guaranty (“Amendment”) dated as of October 12, 2018, is made by Universal Logistics Holdings, Inc., a Michigan corporation, formerly known as Universal Truckload Services, Inc. (“Guarantor”) to Comerica Bank, a Texas banking association (“Comerica”), as Administrative Agent for and on behalf of the Lenders (as defined below) (in such capacity, “Agent”).

RECITALS:

A.Westport Axle Corp. (“Borrower”) has requested certain amendments to the Credit Agreement dated as of December 23, 2015, made between Borrower, the financial institutions party thereto (collectively, including their respective successors and assigns, the “Lenders”) and Agent (as amended, supplemented, amended and restated or otherwise modified from time to time the “Credit Agreement”) and the Lenders’ agreement, subject to the satisfaction of certain terms and conditions, to extend or to continue to extend financial accommodations to Borrower, as provided therein.

B.As a condition to entering into and performing their respective obligations under the Credit Agreement, the Lenders and Agent have required that Guarantor provide to Agent, for and on behalf of the Lenders, this Amendment to the Guaranty dated as of December 23, 2015, made by Guarantor to Agent (as amended, supplemented, amended and restated or otherwise modified from time to time, the “Guaranty”).

NOW, THEREFORE, for valuable consideration, the receipt of which is acknowledged, Guarantor and Agent agree as follows:

1.Capitalized Terms.  In this Amendment, capitalized terms that are used without separate definition shall have the meanings given to them in the Guaranty or, if applicable, the Credit Agreement.

2.Amendments.  The Guaranty is amended as follows:

(a)Clause (a) in the definition of “Triggering Event” appearing in Section 1 of the Guaranty is amended entirely to read as follows:

(a)Any Event of Default (as defined in the Credit Agreement) shall occur and be continuing;  

(b)Clause (a) in the definition of “Triggering Event Cure” appearing in Section 1 of the Guaranty:

(a)In the case of a Triggering Event related to an Event of Default, such Event of Default shall have been cured or waived in accordance with the express terms of the Credit Agreement; 

3.Acknowledgment of Triggering Event.  Guarantor acknowledges that on August 10, 2018, a Triggering Event occurred by virtue of the fact that Guarantor entered into an Amended and Restated Revolving Credit, Term Loan and Security Agreement (the “Credit Agreement”) with PNC Bank National Association and Steel City Capital Funding, a division of PNC Bank National Association (collectively, “PNC”), as an additional borrower, becoming jointly and severally liable for all obligations under the Credit Agreement.  

 

 

4.Representations.  Guarantor represents, warrants and agrees that: (a) except as expressly modified in this Amendment, the representations, warranties, and covenants set forth in the Guaranty  and in each related document, agreement, and instrument remain true and correct, continue to be satisfied in all respects, and are legal, valid and binding obligations with the same force and effect as if entirely restated in this Amendment; (b) when executed, this Amendment will be a duly authorized, legal, valid, and binding obligation of Guarantor enforceable in accordance with its terms; and (c) there is no default continuing under the Guaranty, or any related document, agreement, or instrument, and no event has occurred or condition exists that is or, with the giving of notice or lapse of time or both, would be such a default.

5.No Other Changes.  Except as specifically provided in this Amendment, it does not vary the terms and provisions of the Guaranty.  The terms of this Amendment shall control any conflict between its terms and those of the Guaranty.

6.Ratification.  Except for the modifications under this Amendment, the parties ratify and confirm the Guaranty and agree that it remains in full force and effect.

7.Further Modification; No Reliance.  The terms of this Amendment may not be altered, modified, amended, supplemented or terminated in any manner whatsoever unless the same shall be in writing and signed by or on behalf of the requisite Lenders as determined pursuant to the Credit Agreement..  In executing this Amendment, Guarantor is not relying on any promise or commitment of Agent or the Lenders that is not in writing signed by them.

8.Successors and Assigns.  This Amendment shall inure to the benefit of and be binding upon the parties and their respective successors and assigns.

9.No Defenses.  Guarantor acknowledges, confirms, and warrants to Agent that as of the date hereof Guarantor has absolutely no defenses, claims, rights of set-off, or counterclaims against Agent under, arising out of, or in connection with, this Amendment, the Guaranty, or against any of the indebtedness guaranteed thereby.

10.Expenses.  Guarantor shall cause Borrower to promptly pay all out-of-pocket fees, costs, charges, expenses, and disbursements of Agent incurred in connection with the preparation, execution, and delivery of this Amendment, and the other documents contemplated by this Amendment.

11.Governing Law.  This Amendment shall be a contract made under and governed by the internal laws of the State of Michigan, and may be executed in counterpart, in accordance with Section 13.9 of the Credit Agreement.  Each of the parties hereto agrees that this Amendment and any other Loan Document signed by it and transmitted by facsimile or email or any other method of delivery shall be admissible in evidence as the original itself in any judicial or administrative proceeding whether or not the original is in existence.

[end of amendment – signature page follows]

- 2 -

 

This First Amendment to Guaranty is executed and delivered as of the Effective Date.

 

			
	
Universal Logistics Holdings, Inc.
	
 
	
Comerica Bank 

	
 
	
 
	
 

	
 
	
 
	
 

	
By: /s/ Jude M. Beres
	
 
	
By:  /s/ David J. Zablocki

	
Name:  Jude M. Beres
	
 
	
Name: David J. Zablocki

	
Its:  Treasurer
	
 
	
Title:  Vice President & Alternate Group Manager

 

- 3 -Exhibit

	
			
	 
	 
	Exhibit 10.1

CONFIDENTIAL MATERIAL APPEARING IN THIS DOCUMENT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION IN ACCORDANCE WITH THE SECURITIES ACT OF 1933, AS AMENDED, AND RULE 24B-2 PROMULGATED THEREUNDER. OMITTED INFORMATION HAS BEEN REPLACED WITH ASTERISKS.

Supplemental Agreement No. 11
to
Purchase Agreement No. 03776 
between
The Boeing Company 
and
United Airlines, Inc.
Relating to Boeing Model 737 *** Aircraft

THIS SUPPLEMENTAL AGREEMENT, entered into as of September 25, 2018, by and between  THE  BOEING  COMPANY  (Boeing) and  UNITED  AIRLINES,  INC.  (Customer) (SA-11);

WHEREAS, the parties hereto entered into Purchase Agreement No. 3776 dated July 12,
2012, as amended and supplemented (Purchase Agreement), relating to the purchase and sale of Boeing model 737 *** aircraft (Aircraft).  This Supplemental Agreement is an amendment to the Purchase Agreement;
WHEREAS, the parties wish to *** from the Purchase Agreement; *** scheduled for delivery in ***, inclusive, from the Purchase Agreement; and *** in the event of *** for 737-*** Aircraft into the Purchase Agreement;

NOW THEREFORE, in consideration of the mutual covenants herein contained, the parties agree to amend the Purchase Agreement as follows:

1.         Table of Contents.

The “Table of Contents” is deleted in its entirety and replaced with the attached “Table of
Contents” (identified by “SA-11”).

2.         Tables.
Table 1A entitled “737-*** Aircraft Delivery, Description, Price and ***” is deleted in its entirety and replaced with the attached similarly titled “Table 1A” (identified by “SA-11”) to *** 737-*** Aircraft scheduled for delivery in ***, inclusive. 

3.    Letter Agreements.

  3.1.    Letter Agreement UAL-PA-03776-LA-1207644R1 entitled “*** Aircraft - 737-***” is *** as a result of *** from the Purchase Agreement. 

 3.2.    Letter Agreement No. UAL-PA-03776-LA-l807469 entitled “*** From ***” (identified by “SA-11”) is added to the Purchase Agreement to incorporate the *** in the event of *** from the *** for 737-*** Aircraft.

	
			
	UAL-PA-03776
	 
	SA-11, Page 1

	BOEING / UNITED AIRLINES, INC. PROPRIETARY

Supplemental Agreement No. 11 to
Purchase Agreement No. 03776

4.   Miscellaneous.

Boeing and Customer agree to the *** to Customer’s *** for ***; and ***.   

The Purchase Agreement will be deemed supplemented to the extent provided herein as of the date hereof and as so supplemented will continue in full force and effect.

The rest of this page is left intentionally blank.

	
			
	UAL-PA-03776
	 
	SA-11, Page 2

	BOEING / UNITED AIRLINES, INC. PROPRIETARY

Supplemental Agreement No. 11 to
Purchase Agreement No. 03776

EXECUTED IN DUPLICATE as of the day and year first written above.

	
			
	THE BOEING COMPANY
	 
	UNITED AIRLINES, INC.

	/s/ Irma L. Krueger
	 
	/s/ Gerald Laderman

	Signature
	 
	Signature

	 
	 
	 

	Irma L. Krueger
	 
	Gerald Laderman

	Printed Name
	 
	Printed Name

	 
	 
	 

	Attorney-in-Fact
	 
	Executive Vice President and 
Chief Financial Officer 

	Title
	 
	Title

	
			
	UAL-PA-03776
	 
	SA-11, Page 3

	BOEING / UNITED AIRLINES, INC. PROPRIETARY

TABLE OF CONTENTS
	
			
	ARTICLES
	SA NUMBER

	   Article 1.
	Quantity, Model and Description
	 

	   Article 2.
	Delivery Schedule
	 

	   Article 3.
	Price
	 

	   Article 4.
	Payment
	 

	   Article 5.
	Additional Terms
	 

	TABLE
	 

	1.
	737-*** Aircraft Delivery, Description, Price and ***
	SA-9

	1.1
	*** 737-*** Aircraft Delivery, Description, Price and ***
	SA-10

	1A.
	737-*** Aircraft Delivery, Description, Price and ***
	SA-11

	EXHIBITS
	 

	A-1
	737-*** & *** 737-***Aircraft Configuration
	SA-8

	A-2
	737-*** Aircraft Configuration
	 

	A-3
	737-*** Aircraft Configuration
	 

	A-4
	737-*** Aircraft Configuration
	SA-9

	B.
	Aircraft Delivery Requirements and Responsibilities
	 

	SUPPLEMENTAL EXHIBITS
	 

	AE1.
	***Adjustment/Airframe and ***
	 

	AE2.
	***Adjustment/Airframe and *** for the 737-*** Aircraft
	SA-9

	BFE1.
	BFE Variables 737-*** Aircraft-
	SA-7

	BFE2.
	BFE Variables 737-*** Aircraft
	SA-9

	CS1.
	Customer Support Variables
	SA-9

	EE1.
	Engine Warranty and ***
	 

	SLP1.
	Service Life Policy Components
	 

	
			
	UAL-PA-03776
	TABLE OF CONTENTS
	SA-11, Page 1 of 3

	BOEING / UNITED AIRLINES, INC. PROPRIETARY

	
			
	TABLE OF CONTENTS, CONTINUED
	 

	LETTER AGREEMENTS
	SA NUMBER

	UAL-PA-03776-LA-1207637R1
	*** Matters
	SA-8

	UAL-PA-03776-LA-1207638R2
	***
	SA-10

	UAL-PA-03776-LA-1207640
	Demonstration Flight Waiver
	 

	UAL-PA-03776-LA-1207643R1
	Open Matters 737-*** Aircraft
	SA-9

	UAL-PA-03776-LA-1207644R2
	*** Aircraft
	SA-10

	 
	*** Aircraft - Attachment A
	SA-10

	UAL-PA-03776-LA-1207646R2
	Promotional Support
	SA-10

	UAL-PA-03776-LA-1207647
	Seller Purchased Equipment
	 

	UAL-PA-03776-LA-1207649
	Spare Parts Initial Provisioning
	 

	UAL-PA-03776-LA-1207650R4
	Special Matters
	SA-10

	UAL-PA-03776-LA-1208055R1
	***
	SA-7

	UAL-PA-03776-LA-1208122
	***
	SA-10

	UAL-PA-03776-LA-1208123R1
	*** Matters for 737-*** Aircraft
	SA-9

	UAL-PA-03776-LA-1208157R2
	***
	SA-9

	UAL-PA-03776-LA-1208234
	Privileged and Confidential Matters
	 

	UAL-PA-03776-LA-1208596R1
	AGTA Matters
	SA-10

	UAL-PA-03776-LA-1208238
	Assignment Matters
	 

	UAL-PA-03776-LA-1208869
	Delivery *** Matters
	 

	UAL-PA-03784-LA-1207869
	737 Production Adjustments
	 

	UAL-PA-03776-LA-1606848R2
	*** Special *** Aircraft
	SA-9

	UAL-PA-03776-LA-1703685
	737-*** Aircraft ***
	SA-9

	UAL-PA-03776-LA-1703743
	2017 ***
	SA-9

	UAL-PA-03776-LA-1703858R1
	*** Program for the 737-*** Aircraft
	SA-10

	 
	*** Commitment for the 737‐*** Aircraft
	§5.1.2 of SA‐9

	UAL-PA-3776-LA-1801367
	Loading of Customer Software
	SA-10

	UAL-PA-3776-LA-1801619
	Installation of Cabin Systems Equipment
	SA-10

	UAL-PA-3776-LA-1807469
	*** From *** for 737-*** Aircraft
	SA-11

	
			
	UAL-PA-03776
	TABLE OF CONTENTS
	SA-11, Page 2 of 3

	BOEING / UNITED AIRLINES, INC. PROPRIETARY

	
		
	SUPPLEMENTAL AGREEMENTS
	DATED AS OF

	Supplemental Agreement No. 1
	June 17, 2013

	Supplemental Agreement No. 2
	January 14, 2015

	Supplemental Agreement No. 3
	May 26, 2015

	Supplemental Agreement No. 4
	June 12, 2015

	Supplemental Agreement No. 5
	January 20, 2016

	Supplemental Agreement No. 6
	February 8, 2016

	Supplemental Agreement No. 7
	December 27, 2016

	Supplemental Agreement No. 8
	June 7, 2017

	Supplemental Agreement No. 9
	June 15, 2017

	Supplemental Agreement No. 10
	May 15, 2018

	Supplemental Agreement No. 11
	September 25, 2018

	
			
	UAL-PA-03776
	TABLE OF CONTENTS
	SA-11, Page 3 of 3

	BOEING / UNITED AIRLINES, INC. PROPRIETARY

Table 1A To Purchase Agreement No. 03776
737-*** Aircraft Delivery, Description, Price and ***

	
											
	Airframe Model/MTOW:
	737-***
	**** pounds
	 
	 
	Detail Specification:
	 
	***
	 

	Engine Model/Thrust:
	***
	**** pounds
	 
	 
	Airframe Price Base Year/*** Formula:
	***
	***

	Airframe Price:
	 
	$***
	 
	 
	Engine Price Base Year/*** Formula:
	***
	***

	*** Features:
	 
	$***
	 
	 
	 
	 
	 
	 
	 

	Sub-Total of Airframe and Features:
	$***
	 
	 
	Airframe *** Data:
	 
	 
	 

	Engine Price (Per Aircraft):
	 
	$***
	 
	 
	Base Year Index (ECI):
	 
	***
	 

	Aircraft Basic Price (Excluding BFE/SPE):
	$***
	 
	 
	Base Year Index (CPI):
	 
	***
	 

	Buyer Furnished Equipment (BFE) Estimate:
	$***
	 
	 
	 
	 
	 
	 
	 

	Seller Purchased Equipment (SPE) Estimate:
	$***
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	Deposit per Aircraft:
	 
	$***
	 
	 
	 
	 
	 
	 
	 

	
											
	# of Aircraft
	Delivery Date
	 
	***
	Manufacturer Serial Number
	Actual or Nominal Delivery ****
	*** Estimate
	*** Per Aircraft (Amts. Due/*** Prior to Delivery):
	 

	Number of
	Factor
	*** Base
	***
	***
	***
	***

	Aircraft
	(Airframe)
	Price Per A/P
	***
	***
	***
	***

	***
	***
	***
	***
	***
	***
	$***
	$***
	$***
	$***
	$***

	 
	Total:
	***
	 
	 
	 
	 
	 
	 
	 

	 
	* Nominal delivery *** pursuant to Letter Agreement number UAL-PA-03776-LA-1207643 entitled "Open Matters 737-*** Aircraft", including successors thereof.

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	Note: Serial Numbers are provided as guidance only and are subject to change.  
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	***
	 
	 
	 
	 
	 
	 
	 
	 
	 

	
			
	UAL-PA-03776 APR:  105568.TXT

	BOEING / UNITED AIRLINES, INC. PROPRIETARY

	Table 1A per SA-11, Page 1

                                
	
			
	
	 
	The Boeing Company
P.O. Box 3707
Seattle, WA  98124‐2207

      

UAL-PA-03776-LA-1807469
United Airlines, Inc.
233 South Wacker Drive
Chicago, Illinois  60606
		
	Subject:
	*** from *** for 737-*** Aircraft

References:    
1)   Purchase Agreement No. PA-03776 (Purchase Agreement) between The Boeing Company (Boeing) and United Airlines, Inc. (Customer) relating to Model 737 *** aircraft (Aircraft); and
		
	2)
	Letter Agreement UAL-PA-03776-LA-1801473 entitled “737-*** Aircraft (737-*** Aircraft) ***” (***)

This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement.  All terms used but not defined in this Letter Agreement shall have the same meaning as in the Purchase Agreement.  
Background. 
Section 2.5.5 of the Attachment to the *** provides a ***.  Article 5.4 of the AGTA and the *** provide a procedure for demonstration of *** with the *** prior to Aircraft delivery. Such method will be used to demonstrate *** with the ***.  The parties agree that the *** contained in this Letter Agreement apply if the *** report furnished to Customer for any 737-*** Aircraft pursuant to Article 5.4 of the AGTA shows *** than ***.
		
	1.
	Rights and Obligations in the Event of a ***.

1.1    Aircraft Delivery.  In the event of a *** for any 737-*** Aircraft, at the time Boeing tenders that 737-*** Aircraft for delivery, *** set forth in paragraph 1.2 or paragraph 2, herein, as applicable.  Customer *** delivery of such 737-*** Aircraft ***.
1.2    Post Delivery *** or *** the ***.  In the event of a *** for any 737-*** Aircraft, the following terms and conditions will apply:
1.2.1    For the period of *** delivery of an applicable 737-*** Aircraft, ***, or cause to be *** by *** parts and/or *** parts (***) which, *** in such 737-*** Aircraft, would ***.
1.2.2    If ***, or to cause to be *** such 737-*** Aircraft, then Customer and Boeing will *** upon the details of *** program.  *** will be provided *** to ***.
1.2.3    If Customer elects to *** in such 737-*** Aircraft, *** within *** days after the delivery *** if *** can be *** during 737-***.  *** which cannot be *** during 737-*** will be *** within a mutually agreed period of time.  *** will be *** in accordance with Boeing and engine manufacturer instructions.

	
			
	UAL-PA-03776-LA-1807469
*** from ***
	 
	SA-11
Page 1

	BOEING / UNITED AIRLINES, INC. PROPRIETARY

1.2.4    *** of *** and *** to *** at the *** in effect at the *** of *** between *** and *** or *** and ***, as applicable.  *** related to engines will apply also to spare engines ***.  Boeing ***, will give Customer reasonable advance written notice of the estimated *** at Customer’s maintenance base for any such ***.  *** for *** this Letter Agreement and be *** to *** and *** using established *** procedures and other terms identified in the *** contemplated in paragraph *** herein.
2.    ***.
After *** delivery of an applicable 737-*** Aircraft, if Boeing has not provided, or caused to be provided *** which *** the ***, then Boeing will *** described in this paragraph 2.  Subject to mutual agreement, Boeing and Customer may elect to *** the efforts under paragraph 1 herein in lieu of ***described in this paragraph 2.
2.1    ***.  Boeing will ***, in the *** of *** in *** for each *** than the *** in ***.  The *** will be *** of the *** that are ***.  If the compliance document demonstrates a *** the ***, then Customer and Boeing will work together in good faith to reach *** to adequately address such *** for any 737-*** Aircraft. If *** is unable to provide a *** to adequately address the *** within a reasonable timeframe and does not *** (within a reasonable timeframe) that it will provide ***, then *** will have the ***  any such 737-*** Aircraft and, if the *** the *** of the *** to ***, the *** to *** the ***.
2.2    ***.  *** to Customer pursuant to this section 2 will be *** by Boeing and/or the *** at the time of 737-*** Aircraft delivery.  No *** will be *** pursuant to this section 2 for any 737-*** Aircraft not *** Customer.  Each *** will be *** of delivery of the 737-*** Aircraft for which ***.
2.3    *** Adjustments.  The *** of *** attributable to *** will be determined by Boeing analysis based on data certified to be correct by Boeing.  The *** of such *** will be deemed to be the *** of *** as calculated using reasonable *** based on the data furnished pursuant to Article *** of the AGTA.  If *** are *** in a 737-*** Aircraft as set forth in paragraph 1.2 above, payments of *** will be *** by an *** with the *** in the *** after such *** are ***.  If Customer elects not to *** in any applicable 737-*** Aircraft as set forth in paragraph 1.2 above, *** of the *** will be *** by an *** with the *** in the *** which would have been *** had such *** been ***.
3.    ***.
Boeing and Customer agree it is not the intent of the parties to provide benefits hereunder that *** to be provided (a) by Boeing under the Purchase Agreement, or any other agreement between Boeing and Customer, or (b) by *** under any agreement between *** and Customer, due to the 737-*** Aircraft *** any *** similar to the *** or any *** that otherwise impacts ***.  *** may *** its *** to *** the *** or to be *** to *** by *** or *** pursuant to such other *** or ***.
4.    ***.

	
			
	UAL-PA-03776-LA-1807469
*** from ***
	 
	SA-11
Page 2

	BOEING / UNITED AIRLINES, INC. PROPRIETARY

Customer agrees that the *** contained in paragraphs 1 and 2 herein are *** for purposes of *** with respect to the *** of Customer’s 737-*** Aircraft  and are *** and *** Customer may have, ***, in connection therewith and shall *** and *** and *** of any and all of Boeing’s *** and *** to Customer in connection therewith.  Customer *** Boeing and *** and *** all *** and *** and *** or otherwise, ***, relating to *** such ***.
5.    Assignment.
Except as provided in Letter Agreement No. UAL-PA-03776-LA- 1208238, the rights and obligations described in this Letter Agreement are provided to Customer in consideration of Customer’s ***.
6.    Confidential Treatment.
Customer and Boeing understand that certain commercial and financial information contained in this Letter Agreement are considered by Boeing and Customer as confidential and are subject to the terms and conditions set forth in Letter Agreement No. UAL-PA-03776-LA- 1208234.

Very truly yours,

THE BOEING COMPANY

By:     /s/ Irma L. Krueger     

Its:     Attorney-in-Fact     

	
			
	UAL-PA-03776-LA-1807469
*** from ***
	 
	SA-11
Page 3

	BOEING / UNITED AIRLINES, INC. PROPRIETARY

ACCEPTED AND AGREED TO this

Date:      September 25, 2018     

UNITED AIRLINES, INC.

By:    /s/ Gerald Laderman     

Its:    Executive Vice President and Chief Financial Officer      

	
			
	UAL-PA-03776-LA-1807469
*** from ***
	 
	SA-11
Page 4

	BOEING / UNITED AIRLINES, INC. PROPRIETARY

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00288-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00288-of-00352.parquet"}]]