Document:

Exhibit 10.54

 

 

TERM NOTE

(LIBOR SWAP TRANSACTION)

 

	
$9,100,000.00
    	
Effective as of August 28, 2013
    

 

FOR VALUE RECEIVED, and intending to be legally bound RIVERBEND BETHLEHEM HOLDINGS I LLC, a limited liability company organized under the laws of the Commonwealth of Pennsylvania, with a mailing address at c/o Griffin Land & Nurseries, Inc., 204 West Newberry Road, Bloomfield, Connecticut 06002 (the “Borrower”), promises to pay to FIRST NIAGARA BANK, N.A., a national banking association with a banking office at P.O. Box 28, Buffalo, NY 14240-0028 (together with its successors and assigns, “Lender”) or order, on or before September 1, 2023 (“Maturity”), the principal sum of Nine Million One Hundred Thousand and 00/100 Dollars ($9,100,000.00), together with interest thereon (the “Loan”), until paid in full.

 

1.                                      INTEREST RATE.  Subject to the terms of this Note, the outstanding principal balance of this Note shall bear interest at a rate per annum equal to the LIBOR Rate for the Interest Period plus 1.95% (the “LIBOR-Based Rate”).

 

For purposes hereof, the following terms shall have these meanings:

 

“Business Day” shall mean any day other than a Saturday, Sunday or legal holiday on which commercial banks in New York or Connecticut are required or permitted by law to close.

 

“Interest Period” shall mean with respect to any LIBOR Advance, the one (1)-month period commencing on the first day of each month; provided, however, that only the first Interest Period hereunder shall commence on the later of the date hereof or the date of the initial loan hereunder until the initial payment date.

 

“LIBOR Advance” shall mean any advances under this Note bearing interest based upon the LIBOR-Based Rate.

 

“LIBOR Rate” shall mean a variable interest rate per annum (rounded upwards, if necessary) determined by Lender by dividing (a) the LIBOR rate which is published on Bloomberg Screen, BBAM1 (or any successor as may replace such page in said service for the purposes of display of the interbank interest rates offered on the London market) at 11:00 a.m. London time two (2) Business Days prior to the commencement of the Interest Period; provided, however, if such rate is not available, “LIBOR Rate” shall mean either (i) the rate of interest per annum determined by Lender to be the average rate per annum at which United States dollar deposits in a similar amount are offered for such Interest Period by major banks in the London interbank deposit market at approximately 11:00 a.m. London time two (2) Business Days prior to the commencement of the Interest Period, or (ii) a similar rate based upon a comparable index chosen by Lender in its sole discretion, by (b) a number equal to 1.00 less the Reserve Requirement.

 

“Mortgage” shall mean the Mortgage Deed and Security Agreement on the Property dated the date hereof from Borrower to Lender securing this Note, as the same may be amended from time to time.

 

“Prime Rate” shall mean the variable rate of interest announced by Lender from time to time as its prime rate for calculating interest on certain loans.  The Prime Rate may or may not be the most favorable rate charged by Lender to its customers from time to time.

 

“Property” means the property owned by Borrower located at 4275 Fritch Drive, Bethlehem, Pennsylvania, which has been mortgaged to Lender as security for the Loan.

 

“Reserve Requirement” shall mean the percentage which Lender determines to be the maximum reserve requirement (including, without limitation, any emergency, marginal, special or supplemental reserve requirement) prescribed for so-called “Eurocurrency liabilities” (or any other category of eurocurrency funding) prescribed by the Board of Governors of the Federal Reserve System (or under any successor regulation which Lender determines to be applicable) with each

 

 

change in such maximum reserve requirement automatically, immediately and without notice changing the LIBOR Rate thereafter applicable to each LIBOR Advance.

 

“Variable Rate” shall mean the Prime Rate plus one-half percent (0.50%) per annum.  The Variable Rate shall change simultaneously with changes to the Prime Rate.

 

“Variable Rate Advance” shall mean any advances under the Note bearing interest based upon the Variable Rate.

 

2.                                      ADDITIONAL INTEREST PROVISIONS.

 

(a)                                 Borrower shall pay interest, calculated on the basis of a 360-day year for the actual number of days of each year (365 or 366, as applicable), on the outstanding principal amount from and including the date of this Note to, but not including, the date the outstanding principal amount is paid in full.

 

(b)                                 If pursuant to the terms of this Note, Borrower is at any time obligated to pay interest on the principal balance of this Note at a rate in excess of the maximum interest rate permitted by applicable law, the applicable interest rate shall be immediately reduced to such maximum rate and all previous payments in excess of the maximum rate shall be deemed to have been payments in reduction of principal and not on account of the interest due hereunder.

 

(c)                                  After the occurrence of an Event of Default, at Lender’s option, interest shall accrue at a rate per annum equal to the aggregate of 3% plus the rate otherwise applicable (the “Default Rate”), and such rate shall continue to apply whether or not judgment shall be entered on this Note.

 

(d)                                 Upon request, Lender shall give prompt notice to Borrower of the LIBOR Rate as determined and adjusted herein, which determination shall be conclusive absent manifest error.

 

(e)                                  Except as otherwise provided, each Interest Period shall commence on the first day of each month and end on the last day of the Interest Period; provided, however, that (i) no Interest Period shall extend beyond Maturity, and (ii) each subsequent Interest Period, to the extent applicable, shall commence automatically and immediately following the end of the preceding Interest Period.

 

(f)                                   In the event that Lender shall determine that by reason of circumstances affecting the London Interbank Eurodollar market, adequate and reasonable means do not exist for determining the LIBOR Rate or dollar deposits are not available to Lender in the Interbank Eurodollar market with respect to a proposed LIBOR Advance, Lender shall give Borrower notice of such determination and (i) any requested LIBOR Advance shall be made as a Variable Rate Advance, unless Borrower gives Lender two (2) Business Days’ prior notice that its request for such borrowing is canceled; (ii) any advance which was to have been converted to a LIBOR Advance shall be continued as a Variable Rate Advance; and (iii) any outstanding LIBOR Advance shall be converted to a Variable Rate Advance on the last Business Day of the applicable Interest Period.  Thereafter, Lender shall have no obligation to make LIBOR Advances or maintain outstanding LIBOR Advances and Borrower shall not have the right to request LIBOR Advances.  Lender shall be entitled to fund and maintain its funding of all or any part of any LIBOR Advance in any manner Lender may from time to time deem advisable, Borrower hereby acknowledging that all determinations relating to LIBOR Advances shall be made as if Lender had actually funded and maintained each such LIBOR Advance by the purchase of deposits in an amount similar to the amount of that advance, with a maturity similar to the Interest Period for that advance and bearing interest at LIBOR with respect to that advance.

 

(g)                                  If Lender shall determine that any applicable law, treaty, regulation, guideline or directive, or any change therein or in the interpretation or application thereof, shall make it unlawful or impossible for Lender to make or maintain any LIBOR Advance, the obligation of Lender hereunder to make or maintain such LIBOR Advance shall terminate and Borrower shall, if any such LIBOR Advance is outstanding, promptly upon request from Lender, prepay such LIBOR Advance or convert such LIBOR Advance to a Variable Rate Advance.  If any such payment is made on a day that is not the last Business Day of the then current Interest Period, Borrower shall pay Lender, upon Lender’s request, any amount required under Section 5 hereof.

 

3.                                      REPAYMENT.  On the date hereof, if requested by Lender, Borrower shall pay to Lender interest only in advance for the month in which this Note is dated.  Borrower shall repay the outstanding balance of this Note in 119

 

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consecutive monthly payments of principal in the amount set forth on Schedule A hereto plus accrued interest at the applicable interest rate, commencing October 1, 2013 and continuing on the first day of each consecutive month until Maturity, when the remaining unpaid principal and unpaid accrued interest shall be due and payable in full.  Interest shall be payable, in arrears, on the first day of each month commencing the month following the date of this Note and on the date the LIBOR Advances are paid in full.

 

4.                                      APPLICATION; BUSINESS DAY.  Borrower shall make all payments on this Note to Lender at its address stated above or at such other place as the holder of this Note may designate.  All payments shall be made absolutely net of, without deduction or offset and free and clear of taxes, deductions, charges or withholding of any kind.  Lender shall apply all payments received on this Note to any accrued and unpaid interest then due and owing, then to the reduction of principal of this Note, then to other sums due hereunder in such order and in such amounts as Lender may determine from time to time.  The sum or sums shown on Lender’s records shall be evidence of the correct unpaid balances of principal and interest on this Note, absent manifest error.  If any payment comes due on a day that is not a Business Day, as defined above, Borrower may make the payment on the first Business Day following the payment date and pay the additional interest accrued to the date of payment.

 

5.                                      PREPAYMENT.  This Note may be prepaid in whole or in part at any time without the payment of any prepayment fee.

 

6.                                      LATE FEE.  If any payment due under this Note is unpaid for five (5) Business Days or more, Borrower shall pay, in addition to any other sums due under this Note (and without limiting Lender’s other remedies on account thereof), a late charge in an amount equal to 5% of such unpaid amount.

 

7.                                      MAINTAIN OPERATING ACCOUNTS.  Borrower, or an affiliate of Borrower, shall maintain a business checking account at Lender.  Borrower shall deposit all rents and other income received from the Property monthly into said account.  Borrower shall also deposit all tenant security deposits from the Property in an account or accounts at Lender.

 

8.                                      EVENTS OF DEFAULT.  The happening of any of the following events or occurrence of the following conditions, shall be events of default hereunder (individually, an “Event of Default” and collectively “Events of Default”):

 

(a)                                 Nonpayment.  Nonpayment when due, whether by acceleration or otherwise, of principal of, interest on, or any fee or premium provided for under, this Note.

 

(b)                                 Default under Related Documents.  The occurrence of an “Event of Default”, uncured at the end of any applicable cure period, under any loan agreement, security agreement or other document evidencing or securing this Note (individually, a “Loan Document” and collectively, the “Loan Documents”).

 

(c)                                  Death; Incompetency.  INTENTIONALLY OMITTED

 

(d)                                 Bankruptcy Proceedings.  (i) If Borrower or any guarantor hereof (each a “Loan Party”) shall (A) file a petition or request for liquidation, reorganization, arrangement, adjudication as a bankrupt or similar relief under the bankruptcy, insolvency or similar laws of the United States of America or any state or territory thereof or any foreign jurisdiction now or hereafter in effect, (B) consent to the filing of a petition in any bankruptcy, liquidation, reorganization or insolvency proceedings, (C) consent to the appointment of a receiver, trustee, agent or officer performing similar functions with respect to any substantial part of its assets, (D) make a general assignment for the benefit of its creditors, or (E) institute or execute a consent to any other type of insolvency proceedings (under the federal Bankruptcy Code or otherwise) or any formal or informal proceeding for the dissolution or liquidation of, or settlement of claims against or winding up of affairs of Loan Party; or (ii) the appointment of a receiver, custodian, trustee or officer performing similar functions for any Loan Party or for any of their respective assets, or the filing against any Loan Party of a request or petition for liquidation, reorganization, arrangement or adjudication as a bankrupt or other relief under the bankruptcy, insolvency or similar laws of the United States of America, or any state or territory thereof, or any foreign jurisdiction, now or hereafter in effect, or the institution against any Loan Party of any other type of insolvency proceedings (under the federal Bankruptcy Code or otherwise) or any formal or informal proceeding for the dissolution or liquidation of, settlement of claims against or winding up of affairs of such Loan Party, and the failure

 

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to have such appointment vacated or such petition or proceeding dismissed within 90 days after such appointment, filing or institution.

 

(e)                                  Insolvency.  If Borrower or any guarantor hereof shall (i) become “insolvent” as defined in any applicable state or federal statute; or (ii) incur debts beyond its ability to pay them as they mature.

 

(f)                                   Other Covenants.  Default in the observance of any of the covenants or agreements of Borrower set forth herein and the failure of Borrower to cure such default within thirty (30) days after notice thereof from Lender, provided that if such cure cannot reasonably be effectuated within said thirty (30) day period, Borrower shall have such additional time as is reasonably necessary to cure such default so long as Borrower has commenced such cure within said thirty (30) day period and is diligently pursuing such cure.

 

(g)                                  Representations.  If any certificate, statement, representation, warranty or financial statement furnished by or on behalf of Borrower pursuant to or in connection with this Note (including, without limitation, representations and warranties contained herein) or as an inducement to Lender or any Lender affiliate to enter into any lending agreement with Borrower shall prove to have been false in any material respect at the time as of which the facts therein set forth were certified, or to have omitted any material contingent or unliquidated liability or claim against Borrower, or if on the date of the execution of this Note there shall have been any materially adverse change in any of the facts disclosed by any such statement or certificate, which change shall not have been disclosed by Borrower to Lender at or prior to the time of such execution.

 

(h)                                 Judgments.  If any judgment or judgments (other than any judgment for which it is fully insured) against Borrower remains unpaid, unstayed on appeal, undischarged, unbonded or undismissed for a period of thirty (30) days.

 

(i)                                     Guarantor Default.  Any guaranty of this Note shall cease, for any reason, to be in effect without the prior consent of Lender, or any guarantor or Borrower shall so assert in writing; or any individual guarantor shall die or become incapacitated, incarcerated and, if requested by Lender in its sole discretion, Borrower shall have failed to agree to a replacement guaranty, cash collateral or other arrangement satisfactory to Lender as an adequate substitution for the guaranty of such guarantor; or any guarantor shall fail to perform or observe any covenant contained in the guaranty to which such guarantor is a party; or any representation, warranty or financial statement made or furnished by a guarantor in connection with this Note or the applicable guaranty shall prove to have been false in any material respect, or to have omitted any material contingent or unliquidated liability.

 

(j)                                    Challenge to Collateral Documents.  If Borrower, any guarantor, or any other Person providing collateral support for Borrower’s obligations hereunder (the “Obligor”) directly or indirectly, shall challenge, or indicate their intention to challenge, the validity and binding effect of any provision of this Note or any document evidencing or securing Borrower’s indebtedness under this Note (each a “Collateral Document” and collectively, the “Collateral Documents”) or this Note or the Collateral Documents shall for any reason (except to the extent permitted by their express terms) cease to be effective or cease to have the priority lien position required by the terms thereof or the collateral is no longer available, for any reason.

 

(k)                                 Change of Ownership.  If there is a change of control of Borrower.

 

(l)                                     Cross Default.  Nonpayment by Borrower of any other indebtedness owing by Borrower to Lender, or to any other party (if such indebtedness to such other party is in excess of $50,000.00), when due (or, if permitted by the terms of the applicable document, within any applicable grace period), whether such indebtedness shall become due by scheduled maturity, by required prepayment, by acceleration, by demand or otherwise, or failure of Borrower to perform any material term, covenant or agreement on its part to be performed under any agreement or instrument (other than this Note) evidencing or securing or relating to any indebtedness owing by Borrower to Lender, or to any other party (if such indebtedness is in excess of $50,000.00) when required to be performed if the effect of such failure is to permit the holder to accelerate the maturity of such indebtedness.

 

(m)                             Termination of Business.  Any Obligor terminates its business or ceases to operate as a going concern.

 

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Upon the occurrence of any Event of Default (other than an Event of Default under paragraphs (d) or (e) above), Lender shall have the absolute right, at its option and in its sole discretion, to declare immediately due and payable all unpaid amounts of principal and interest on this Note, and all other sums payable at the time of, or as the result of, such declaration under this Note or any other document securing this Note and Borrower shall no longer be permitted to obtain loans hereunder.  Upon the happening of one or more Events of Default under paragraphs (d) or (e) hereof, Lender’s obligations hereunder shall be cancelled immediately, automatically and without notice, and all amounts outstanding under this Note, and all other sums payable at the time of, or as the result of, such declaration under this Note or any other document securing this Note, shall become immediately due and payable without presentation, demand or notice of any kind to Borrower.  Lender may, in its sole discretion, exercise alternately or cumulatively any of the remedies available under this Note or any other document securing this Note, or at law or equity.  The failure to exercise one or more of such remedies upon the happening of an Event of Default shall not constitute a waiver of the right to exercise the same at any subsequent time in respect of the same Event of Default or any other Event of Default. Neither the acceptance by Lender of any payment hereunder which is less than payment in full of all amounts due and payable at the time of such payment, or any negotiation or discussion with Borrower, shall constitute a waiver of the right to exercise one or more of such remedies at that time or at any subsequent time or nullify any prior exercise of any remedy, except as and to the extent otherwise provided by law.

 

9.                                      SETOFF.  If the unpaid principal amount of this Note, interest accrued on the unpaid principal amount thereof or other amount owing by Borrower under this Note or the other loan documents shall have become due and payable (at maturity, by acceleration or otherwise), Lender will have the right, in addition to all other rights and remedies available to it, without notice to Borrower, to setoff against and to appropriate and apply to such due and payable amounts any obligations owing to, and any other funds held in any manner for the account of, Borrower by Lender or any other direct or indirect subsidiary of First Niagara Financial Group, Inc. (“FNFG”), including, without limitation, all funds in all deposit accounts (whether time or demand, general or special, provisionally credited or finally credited, or otherwise) now or in the future maintained by Borrower.  Borrower consents to and confirms the foregoing arrangements and confirms the rights of banker’s lien and setoff.  Nothing in this Note will be deemed a waiver or prohibition of or restriction on such rights of banker’s lien or setoff.

 

10.                               CHANGE OF LAW.  If the adoption of, any change in or any change in the interpretation of, any law regulation or guideline applicable to financial institutions by any applicable governmental authority exercising control over Lender or FNFG (a “Governmental Rule”), or the compliance by Lender with the Governmental Rule (including, without limitation, Regulation D of the Board of Governors of the Federal Reserve System and regulations of the Securities and Exchange Commission relating to financial instruments), imposes any reserve, deposit, allocation of capital or similar requirement, or any tax (other than taxes on Lender’s income) on Lender or FNFG which reduces the rate of return on Lender’s capital then, and in each such case, Lender may require Borrower to pay the amount necessary to compensate Lender or FNFG for such reduced rate of return.  Lender will deliver to Borrower a statement of the justification for the payment(s) and the determination by Lender shall be conclusive absent obvious error and shall be payable by Borrower to Lender upon Lender’s demand.  In determining any such amount, Lender may use reasonable averaging and attribution methods.

 

11.                               PAYMENT OF FEES AND EXPENSES.  Borrower agrees to pay, upon demand, costs of collection of all amounts due under this Note, including, without limitation, principal, interest and fees, or in connection with the enforcement of, or realization on, any security for this Note, including, without limitation, to the extent permitted by applicable law, reasonable attorneys’ fees and expenses.

 

12.                               GOVERNING LAW.  This Note shall be interpreted and the rights and liabilities of the parties shall be governed by the laws of the State of Connecticut, without regard to principles of the conflict of laws.  This Note has been delivered to and accepted by Lender and will be deemed to be made in the State of Connecticut.

 

13.                               GENERAL PROVISIONS.

 

(a)                                 Borrower waives presentment, demand, notice, protest and all other demands and notices in connection with delivery, acceptance, performance or enforcement of this Note.

 

(b)                                 This Note, together with any related loan and security agreements, guaranties, and documents ancillary thereto contains the entire agreement between Lender and Borrower with respect to the subject matter hereof,

 

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and supersedes every course of dealing, other conduct, oral agreement, commitment letter or other correspondence related thereto and representation previously made by Lender.

 

(c)                                  Borrower agrees that in any legal proceeding, a copy of this Note kept in Lender’s course of business may be admitted into evidence as an original.

 

(d)                                 This Note is a binding obligation enforceable against Borrower and its permitted successors and assigns and shall inure to the benefit of Lender and its successors and assigns.  Borrower may not assign any of its rights or obligations hereunder without the prior written consent of Lender.  If a court deems any provision of this Note invalid, the remainder of this Note shall remain in effect.

 

(e)                                  If there is more than one Borrower, each of them shall be jointly and severally liable for all amounts and obligations which become due under this Note and the term “Borrower” shall include each as well as all of them.

 

(f)                                   Borrower shall furnish to Bank the following financial information, in each instance prepared in accordance with generally accepted accounting principles consistently applied: (i) not later than one hundred twenty (120) days after the end of each fiscal year, financial information of Borrower including, without limitation, an operating statement, a cash flow statement and a balance sheet and any other information reasonably requested by Lender, prepared by Borrower’s chief financial officer or if Borrower has no such officer, the chief financial officer of Borrower’s manager; and (ii) such other information respecting the operations of Borrower and/or the Property as Lender may from time to time reasonably request.  Borrower shall promptly notify Lender of the occurrence of any default, Event of Default, adverse litigation or material adverse change in its financial condition.

 

(g)                                  If payment of this Note is secured by collateral, the collateral is specified in the collateral records of Lender.

 

(h)                                 No failure by the holder hereof to exercise, and no delay in exercising, any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise by such holder of any right or remedy hereunder preclude any other or further exercise thereof or the exercise of any other right or remedy.  The rights and remedies of the holder hereof as herein specified are cumulative and not exclusive of any other rights or remedies which such holder may otherwise have.

 

(i)                                     All notices, demands, or other communications hereunder must be in writing and will be effective when delivered or mailed to the address set forth herein or such other address as provided by such party via overnight delivery service or personal service or, if mailed, three (3) days after deposit, postage prepaid, in an official depository maintained by the United States Post Office.

 

(j)                                    Borrower agrees to indemnify Lender and its affiliates and their respective officers, directors and employees (collectively, “Indemnitees”) and hereby holds Indemnitees harmless against all liabilities, claims, actions, suits, proceedings, penalties, costs, expenses, brokerage or other fees (including, without limitation, reasonable legal fees and expenses), losses, damages and liabilities of any kind or nature including in tort, penalties and interest, which Lender may incur in any manner other than Lender’s own negligence or willful misconduct, by reason of any matter relating, directly or indirectly, to this Note and the related Loan Documents.  This indemnity shall survive the termination of this Note.

 

(k)                                 To the fullest extent permitted by applicable law, Borrower and Lender shall not assert, and each hereby waives any claim against the other, on any theory of liability, for special, indirect, consequential or punitive damages (but excluding direct or actual damages) arising out of, in connection with or as a result of, this Note, any related loan documents, the transactions contemplated hereby or thereby or any loan or the use of the proceeds.

 

(l)                                     USA Patriot Act.  Lender hereby notifies Borrower that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56), Lender is required to obtain, verify and record information that identifies Borrower, which information includes the name and address of Borrower and other information that will allow Lender to identify Borrower in accordance with the USA Patriot Act.

 

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14.                               JURISDICTION AND VENUE.  BORROWER KNOWINGLY, VOLUNTARILY, INTENTIONALLY AND IRREVOCABLY (A) CONSENTS IN EACH ACTION AND OTHER LEGAL PROCEEDING COMMENCED BY LENDER AND ARISING OUT OF OR OTHERWISE RELATING TO THIS NOTE OR ANY COLLATERAL RELATED HERETO TO THE JURISDICTION OF ANY COURT THAT IS EITHER A COURT OF RECORD OF THE STATE OF CONNECTICUT OR A COURT OF THE UNITED STATES LOCATED IN THE STATE OF CONNECTICUT, AND (B) WAIVES EACH OBJECTION TO THE LAYING OF VENUE OF ANY SUCH ACTION OR OTHER LEGAL PROCEEDING.

 

15.                               WAIVER OF JURY TRIAL.  BORROWER KNOWINGLY, VOLUNTARILY, INTENTIONALLY AND IRREVOCABLY WAIVES EACH RIGHT BORROWER MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO, AND IN, ANY ACTION OR OTHER LEGAL PROCEEDING OF ANY NATURE, RELATING TO (A) THIS NOTE, ANY RELATED LOAN DOCUMENT OR ANY COLLATERAL RELATED HERETO, (B) ANY TRANSACTION CONTEMPLATED BY ANY SUCH DOCUMENTS OR (C) ANY NEGOTIATION, PERFORMANCE OR ENFORCEMENT OF THIS NOTE, OR ANY COLLATERAL RELATED HERETO.  BORROWER ACKNOWLEDGES THAT IT HAS BEEN REPRESENTED BY INDEPENDENT LEGAL COUNSEL AS NECESSARY AND APPROPRIATE.

 

16.                               PREJUDGMENT REMEDY WAIVER.  BORROWER HEREBY REPRESENTS, COVENANTS AND AGREES THAT THE PROCEEDS OF THE LOAN SHALL BE USED FOR GENERAL COMMERCIAL PURPOSES AND THAT THE LOAN IS A “COMMERCIAL TRANSACTION” AS DEFINED BY THE STATUTES OF THE STATE OF CONNECTICUT.  BORROWER HEREBY WAIVES ALL RIGHTS TO NOTICE AND PRIOR COURT HEARING OR COURT ORDER UNDER CONNECTICUT GENERAL STATUTES, SECTIONS 52-278a ET SEQ., AS AMENDED, OR UNDER ANY OTHER STATE OR FEDERAL LAW WITH RESPECT TO ANY AND ALL PREJUDGMENT REMEDIES LENDER MAY EMPLOY TO ENFORCE ITS RIGHTS AND REMEDIES HEREUNDER.  MORE SPECIFICALLY, BORROWER ACKNOWLEDGES THAT LENDER’S ATTORNEY MAY, PURSUANT TO CONNECTICUT GENERAL STATUTES, SECTION 52-278f, ISSUE A WRIT FOR A PREJUDGMENT REMEDY WITHOUT SECURING A COURT ORDER.  BORROWER ACKNOWLEDGES AND RESERVES ITS RIGHT TO NOTICE AND A HEARING SUBSEQUENT TO THE ISSUANCE OF A WRIT FOR PREJUDGMENT REMEDY BY LENDER’S ATTORNEY, AND LENDER ACKNOWLEDGES BORROWER’S RIGHT TO SAID HEARING SUBSEQUENT TO THE ISSUANCE OF SAID WRIT.  BORROWER FURTHER HEREBY WAIVES ANY REQUIREMENT OR OBLIGATION OF LENDER TO POST A BOND OR OTHER SECURITY IN CONNECTION WITH ANY PREJUDGMENT REMEDY OBTAINED BY LENDER AND WAIVES ANY OBJECTIONS TO ANY PREJUDGMENT REMEDY OBTAINED BY LENDER BASED ON ANY OFFSETS, CLAIMS, DEFENSES OR COUNTERCLAIMS OF BORROWER OR ANY OTHER OBLIGATED PARTY TO ANY ACTION BROUGHT BY LENDER.  BORROWER ACKNOWLEDGES AND AGREES THAT ALL OF THE WAIVERS CONTAINED IN THIS SECTION HAVE BEEN MADE KNOWINGLY, VOLUNTARILY, INTENTIONALLY AND INTELLIGENTLY, AND WITH THE ADVICE OF ITS COUNSEL.

 

 

	
 
    	
RIVERBEND   BETHLEHEM HOLDINGS I LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
Riverbend   Lehigh Valley Holdings II LLC
    
	
 
    	
 
    	
Its   Sole Member
    
	
 
    	
 
    
	
 
    	
 
    	
By:
    	
Griffin   Land, LLC
    
	
 
    	
 
    	
 
    	
Its   Sole Member
    
	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
Griffin   Land & Nurseries, Inc.
    
	
 
    	
 
    	
 
    	
 
    	
Its   Sole Member
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
By:
    	
/s/   Michael Gamzon
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Name:   Michael Gamzon
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Title:   President
    

 

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SCHEDULE A

 

Loan Amortization Schedule

 

	
Payment Date
    	
 
    	
Balance Prior to
    Payment
    	
 
    	
Principal Payment
    Amount
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
October 1, 2013
    	
 
    	
9,100,000.00
    	
 
    	
15,620.00
    	
 
    
	
November 1, 2013
    	
 
    	
9,084,380.00
    	
 
    	
15,620.00
    	
 
    
	
December 1, 2013
    	
 
    	
9,068,760.00
    	
 
    	
15,620.00
    	
 
    
	
January 1, 2014
    	
 
    	
9,053,140.00
    	
 
    	
15,620.00
    	
 
    
	
February 1, 2014
    	
 
    	
9,037,520.00
    	
 
    	
16,241.00
    	
 
    
	
March 1, 2014
    	
 
    	
9,021,279.00
    	
 
    	
16,241.00
    	
 
    
	
April 1, 2014
    	
 
    	
9,005,038.00
    	
 
    	
16,241.00
    	
 
    
	
May 1, 2014
    	
 
    	
8,988,797.00
    	
 
    	
16,241.00
    	
 
    
	
June 1, 2014
    	
 
    	
8,972,556.00
    	
 
    	
16,241.00
    	
 
    
	
July 1, 2014
    	
 
    	
8,956,315.00
    	
 
    	
16,241.00
    	
 
    
	
August 1, 2014
    	
 
    	
8,940,074.00
    	
 
    	
16,241.00
    	
 
    
	
September 1, 2014
    	
 
    	
8,923,833.00
    	
 
    	
16,241.00
    	
 
    
	
October 1, 2014
    	
 
    	
8,907,592.00
    	
 
    	
16,241.00
    	
 
    
	
November 1, 2014
    	
 
    	
8,891,351.00
    	
 
    	
16,241.00
    	
 
    
	
December 1, 2014
    	
 
    	
8,875,110.00
    	
 
    	
16,241.00
    	
 
    
	
January 1, 2015
    	
 
    	
8,858,869.00
    	
 
    	
16,241.00
    	
 
    
	
February 1, 2015
    	
 
    	
8,842,628.00
    	
 
    	
17,048.00
    	
 
    
	
March 1, 2015
    	
 
    	
8,825,580.00
    	
 
    	
17,048.00
    	
 
    
	
April 1, 2015
    	
 
    	
8,808,532.00
    	
 
    	
17,048.00
    	
 
    
	
May 1, 2015
    	
 
    	
8,791,484.00
    	
 
    	
17,048.00
    	
 
    
	
June 1, 2015
    	
 
    	
8,774,436.00
    	
 
    	
17,048.00
    	
 
    
	
July 1, 2015
    	
 
    	
8,757,388.00
    	
 
    	
17,048.00
    	
 
    
	
August 1, 2015
    	
 
    	
8,740,340.00
    	
 
    	
17,048.00
    	
 
    
	
September 1, 2015
    	
 
    	
8,723,292.00
    	
 
    	
17,048.00
    	
 
    
	
October 1, 2015
    	
 
    	
8,706,244.00
    	
 
    	
17,048.00
    	
 
    
	
November 1, 2015
    	
 
    	
8,689,196.00
    	
 
    	
17,048.00
    	
 
    
	
December 1, 2015
    	
 
    	
8,672,148.00
    	
 
    	
17,048.00
    	
 
    
	
January 1, 2016
    	
 
    	
8,655,100.00
    	
 
    	
17,048.00
    	
 
    
	
February 1, 2016
    	
 
    	
8,638,052.00
    	
 
    	
17,795.00
    	
 
    
	
March 1, 2016
    	
 
    	
8,620,257.00
    	
 
    	
17,795.00
    	
 
    
	
April 1, 2016
    	
 
    	
8,602,462.00
    	
 
    	
17,795.00
    	
 
    
	
May 1, 2016
    	
 
    	
8,584,667.00
    	
 
    	
17,795.00
    	
 
    
	
June 1, 2016
    	
 
    	
8,566,872.00
    	
 
    	
17,795.00
    	
 
    
	
July 1, 2016
    	
 
    	
8,549,077.00
    	
 
    	
17,795.00
    	
 
    
	
August 1, 2016
    	
 
    	
8,531,282.00
    	
 
    	
17,795.00
    	
 
    
	
September 1, 2016
    	
 
    	
8,513,487.00
    	
 
    	
17,795.00
    	
 
    
	
October 1, 2016
    	
 
    	
8,495,692.00
    	
 
    	
17,795.00
    	
 
    
	
November 1, 2016
    	
 
    	
8,477,897.00
    	
 
    	
17,795.00
    	
 
    
	
December 1, 2016
    	
 
    	
8,460,102.00
    	
 
    	
17,795.00
    	
 
    
	
January 1, 2017
    	
 
    	
8,442,307.00
    	
 
    	
17,795.00
    	
 
    
	
February 1, 2017
    	
 
    	
8,424,512.00
    	
 
    	
18,778.00
    	
 
    
	
March 1, 2017
    	
 
    	
8,405,734.00
    	
 
    	
18,778.00
    	
 
    
	
April 1, 2017
    	
 
    	
8,386,956.00
    	
 
    	
18,778.00
    	
 
    

 

8

 

	
Payment Date
    	
 
    	
Balance Prior to
    Payment
    	
 
    	
Principal Payment
    Amount
    	
 
    
	
May 1, 2017
    	
 
    	
8,368,178.00
    	
 
    	
18,778.00
    	
 
    
	
June 1, 2017
    	
 
    	
8,349,400.00
    	
 
    	
18,778.00
    	
 
    
	
July 1, 2017
    	
 
    	
8,330,622.00
    	
 
    	
18,778.00
    	
 
    
	
August 1, 2017
    	
 
    	
8,311,844.00
    	
 
    	
18,778.00
    	
 
    
	
September 1, 2017
    	
 
    	
8,293,066.00
    	
 
    	
18,778.00
    	
 
    
	
October 1, 2017
    	
 
    	
8,274,288.00
    	
 
    	
18,778.00
    	
 
    
	
November 1, 2017
    	
 
    	
8,255,510.00
    	
 
    	
18,778.00
    	
 
    
	
December 1, 2017
    	
 
    	
8,236,732.00
    	
 
    	
18,778.00
    	
 
    
	
January 1, 2018
    	
 
    	
8,217,954.00
    	
 
    	
18,778.00
    	
 
    
	
February 1, 2018
    	
 
    	
8,199,176.00
    	
 
    	
19,711.00
    	
 
    
	
March 1, 2018
    	
 
    	
8,179,465.00
    	
 
    	
19,711.00
    	
 
    
	
April 1, 2018
    	
 
    	
8,159,754.00
    	
 
    	
19,711.00
    	
 
    
	
May 1, 2018
    	
 
    	
8,140,043.00
    	
 
    	
19,711.00
    	
 
    
	
June 1, 2018
    	
 
    	
8,120,332.00
    	
 
    	
19,711.00
    	
 
    
	
July 1, 2018
    	
 
    	
8,100,621.00
    	
 
    	
19,711.00
    	
 
    
	
August 1, 2018
    	
 
    	
8,080,910.00
    	
 
    	
19,711.00
    	
 
    
	
September 1, 2018
    	
 
    	
8,061,199.00
    	
 
    	
19,711.00
    	
 
    
	
October 1, 2018
    	
 
    	
8,041,488.00
    	
 
    	
19,711.00
    	
 
    
	
November 1, 2018
    	
 
    	
8,021,777.00
    	
 
    	
19,711.00
    	
 
    
	
December 1, 2018
    	
 
    	
8,002,066.00
    	
 
    	
19,711.00
    	
 
    
	
January 1, 2019
    	
 
    	
7,982,355.00
    	
 
    	
19,711.00
    	
 
    
	
February 1, 2019
    	
 
    	
7,962,644.00
    	
 
    	
20,690.00
    	
 
    
	
March 1, 2019
    	
 
    	
7,941,954.00
    	
 
    	
20,690.00
    	
 
    
	
April 1, 2019
    	
 
    	
7,921,264.00
    	
 
    	
20,690.00
    	
 
    
	
May 1, 2019
    	
 
    	
7,900,574.00
    	
 
    	
20,690.00
    	
 
    
	
June 1, 2019
    	
 
    	
7,879,884.00
    	
 
    	
20,690.00
    	
 
    
	
July 1, 2019
    	
 
    	
7,859,194.00
    	
 
    	
20,690.00
    	
 
    
	
August 1, 2019
    	
 
    	
7,838,504.00
    	
 
    	
20,690.00
    	
 
    
	
September 1, 2019
    	
 
    	
7,817,814.00
    	
 
    	
20,690.00
    	
 
    
	
October 1, 2019
    	
 
    	
7,797,124.00
    	
 
    	
20,690.00
    	
 
    
	
November 1, 2019
    	
 
    	
7,776,434.00
    	
 
    	
20,690.00
    	
 
    
	
December 1, 2019
    	
 
    	
7,755,744.00
    	
 
    	
20,690.00
    	
 
    
	
January 1, 2020
    	
 
    	
7,735,054.00
    	
 
    	
20,690.00
    	
 
    
	
February 1, 2020
    	
 
    	
7,714,364.00
    	
 
    	
21,628.00
    	
 
    
	
March 1, 2020
    	
 
    	
7,692,736.00
    	
 
    	
21,628.00
    	
 
    
	
April 1, 2020
    	
 
    	
7,671,108.00
    	
 
    	
21,628.00
    	
 
    
	
May 1, 2020
    	
 
    	
7,649,480.00
    	
 
    	
21,628.00
    	
 
    
	
June 1, 2020
    	
 
    	
7,627,852.00
    	
 
    	
21,628.00
    	
 
    
	
July 1, 2020
    	
 
    	
7,606,224.00
    	
 
    	
21,628.00
    	
 
    
	
August 1, 2020
    	
 
    	
7,584,596.00
    	
 
    	
21,628.00
    	
 
    
	
September 1, 2020
    	
 
    	
7,562,968.00
    	
 
    	
21,628.00
    	
 
    
	
October 1, 2020
    	
 
    	
7,541,340.00
    	
 
    	
21,628.00
    	
 
    
	
November 1, 2020
    	
 
    	
7,519,712.00
    	
 
    	
21,628.00
    	
 
    
	
December 1, 2020
    	
 
    	
7,498,084.00
    	
 
    	
21,628.00
    	
 
    
	
January 1, 2021
    	
 
    	
7,476,456.00
    	
 
    	
21,628.00
    	
 
    
	
February 1, 2021
    	
 
    	
7,454,828.00
    	
 
    	
22,791.00
    	
 
    
	
March 1, 2021
    	
 
    	
7,432,037.00
    	
 
    	
22,791.00
    	
 
    
	
April 1, 2021
    	
 
    	
7,409,246.00
    	
 
    	
22,791.00
    	
 
    
	
May 1, 2021
    	
 
    	
7,386,455.00
    	
 
    	
22,791.00
    	
 
    
	
June 1, 2021
    	
 
    	
7,363,664.00
    	
 
    	
22,791.00
    	
 
    
	
July 1, 2021
    	
 
    	
7,340,873.00
    	
 
    	
22,791.00
    	
 
    
	
August 1, 2021
    	
 
    	
7,318,082.00
    	
 
    	
22,791.00
    	
 
    
	
September 1, 2021
    	
 
    	
7,295,291.00
    	
 
    	
22,791.00
    	
 
    
	
October 1, 2021
    	
 
    	
7,272,500.00
    	
 
    	
22,791.00
    	
 
    

 

9

 

	
Payment Date
    	
 
    	
Balance   Prior to
   Payment
    	
 
    	
Principal   Payment
   Amount
    	
 
    
	
November 1, 2021
    	
 
    	
7,249,709.00
    	
 
    	
22,791.00
    	
 
    
	
December 1, 2021
    	
 
    	
7,226,918.00
    	
 
    	
22,791.00
    	
 
    
	
January 1, 2022
    	
 
    	
7,204,127.00
    	
 
    	
22,791.00
    	
 
    
	
February 1, 2022
    	
 
    	
7,181,336.00
    	
 
    	
23,924.00
    	
 
    
	
March 1, 2022
    	
 
    	
7,157,412.00
    	
 
    	
23,924.00
    	
 
    
	
April 1, 2022
    	
 
    	
7,133,488.00
    	
 
    	
23,924.00
    	
 
    
	
May 1, 2022
    	
 
    	
7,109,564.00
    	
 
    	
23,924.00
    	
 
    
	
June 1, 2022
    	
 
    	
7,085,640.00
    	
 
    	
23,924.00
    	
 
    
	
July 1, 2022
    	
 
    	
7,061,716.00
    	
 
    	
23,924.00
    	
 
    
	
August 1, 2022
    	
 
    	
7,037,792.00
    	
 
    	
23,924.00
    	
 
    
	
September 1, 2022
    	
 
    	
7,013,868.00
    	
 
    	
23,924.00
    	
 
    
	
October 1, 2022
    	
 
    	
6,989,944.00
    	
 
    	
23,924.00
    	
 
    
	
November 1, 2022
    	
 
    	
6,966,020.00
    	
 
    	
23,924.00
    	
 
    
	
December 1, 2022
    	
 
    	
6,942,096.00
    	
 
    	
23,924.00
    	
 
    
	
January 1, 2023
    	
 
    	
6,918,172.00
    	
 
    	
23,924.00
    	
 
    
	
February 1, 2023
    	
 
    	
6,894,248.00
    	
 
    	
24,946.00
    	
 
    
	
March 1, 2023
    	
 
    	
6,869,302.00
    	
 
    	
24,946.00
    	
 
    
	
April 1, 2023
    	
 
    	
6,844,356.00
    	
 
    	
24,946.00
    	
 
    
	
May 1, 2023
    	
 
    	
6,819,410.00
    	
 
    	
24,946.00
    	
 
    
	
June 1, 2023
    	
 
    	
6,794,464.00
    	
 
    	
24,946.00
    	
 
    
	
July 1, 2023
    	
 
    	
6,769,518.00
    	
 
    	
24,946.00
    	
 
    
	
August 1, 2023
    	
 
    	
6,744,572.00
    	
 
    	
24,946.00
    	
 
    
	
September 1, 2023
    	
 
    	
6,719,626.00
    	
 
    	
6,719,626.00
    	
 
    

 

10Exhibit 10.1

 

EXECUTION COPY

 

SIXTH AMENDMENT TO AMENDED AND RESTATED
 RECEIVABLES PURCHASE AGREEMENT

 

THIS SIXTH AMENDMENT TO AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT, dated as of October 7, 2013 (this “Amendment”) is entered into among AMERISOURCE RECEIVABLES FINANCIAL CORPORATION, a Delaware corporation (in such capacity, the “Seller”), AMERISOURCEBERGEN DRUG CORPORATION, a Delaware corporation, as the initial Servicer (in such capacity, the “Servicer”), the PURCHASER AGENTS and PURCHASERS listed on the signature pages hereto, MARKET STREET FUNDING LLC (“Market Street”) as Assignor (as defined below), PNC BANK, NATIONAL ASSOCIATION (“PNC”) as Assignee (as defined below), and THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH (“BTMU”), as administrator (in such capacity, the “Administrator”).

 

R E C I T A L S

 

The Seller, Servicer, the Purchaser Groups, and the Administrator are parties to that certain Amended and Restated Receivables Purchase Agreement, dated as of April 29, 2010 (as amended, supplemented or otherwise modified from time to time, the “Agreement”).

 

Market Street, as the assignor (in such capacity, the “Assignor”), desires to sell, assign and delegate to PNC, as the assignee (in such capacity, the “Assignee”), all of the Assignor’s rights under, interest in, title to and obligations under the Agreement and the other Transaction Documents (collectively, the “Assigned Documents”), and the Assignee desires to purchase and assume from the Assignor all of the Assignor’s rights under, interest in, title to and obligations under the Assigned Documents.

 

After giving effect to the assignment and assumption contemplated in Section 2 of this Amendment, each of the parties hereto desires that Market Street cease to be a party to the Agreement and each of the other Assigned Documents to which it is a party and to be discharged from its duties and obligations as a Purchaser or otherwise under the Agreement and each of the other Assigned Documents.

 

The parties hereto desire to amend the Agreement as hereinafter set forth.

 

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

 

1.                                      Certain Defined Terms.  Capitalized terms used but not defined herein shall have the meanings set forth for such terms in Exhibit I to the Agreement.

 

2.                                      Assignment and Assumption.

 

(i)                                     Sale and Assignment by Assignor to Assignee.  At or before 2:00 pm (New York time) on the date hereof, the Assignee shall pay to the Assignor, in immediately available funds, (a) the amount set forth on Schedule I hereto (such amount, the “Capital Payment”) representing 100.00% of the aggregate Invested Amount of the

 

 

Assignor under the Agreement on the date hereof and (b) the amount set forth on Schedule I hereto representing all accrued but unpaid (whether or not then due) CP Costs, fees and other costs and expenses payable in respect of such Invested Amount to but excluding the date hereof (such amount, the “CP Costs and Other Costs”; together with the Capital Payment, collectively, the “Payoff Amount”).  Upon the Assignor’s receipt of the Payoff Amount in its entirety, the Assignor hereby sells, transfers, assigns and delegates to the Assignee, without recourse, representation or warranty except as otherwise provided herein, and the Assignee hereby irrevocably purchases, receives, accepts and assumes from the Assignor, all of the Assignor’s rights under, interest in, title to and all its obligations under the Agreement and the other Assigned Documents.  Without limiting the generality of the foregoing, the Assignor hereby assigns to the Assignee all of its right, title and interest in the Receivables, all Related Security with respect to the Receivables and all Collections with respect thereto.

 

Payment of each portion of the Payoff Amount shall be made by wire transfer of immediately available funds in accordance with the payment instructions provided by Assignor to Assignee prior to the Effective Date.

 

(ii)                                  Removal of Assignor.  From and after the Effective Date (as defined below), the Assignor shall cease to be a party to the Agreement and each of the other Assigned Documents to which it was a party and shall no longer have any rights or obligations under the Agreement or any other Assigned Document (other than such rights and obligations which by their express terms survive termination thereof).

 

(iii)                               Limitation on Liability.  Notwithstanding anything to the contrary set forth in this Amendment, the Assignee does not accept or assume any liability or responsibility for any breach, failure or other act or omission on the part of the Assignor, or any indemnification or other cost, fee or expense related thereto, in each case which occurred or directly or indirectly arose out of an event which occurred prior to the Effective Date.

 

(iv)                              Acknowledgement and Agreement.  Each of the parties and signatories hereto (a) hereby acknowledges and agrees to the sale, assignment and assumption set forth in clause (i) above, (b) expressly waives any notice or other applicable requirements set forth in any Transaction Document as a prerequisite or condition precedent to such sale, assignment and assumption (other than as set forth herein) and (c) acknowledges and agrees that this Section 2 is in form and substance substantially similar to a Transfer Supplement.

 

3.                                      Joinder.

 

(i)                                     PNC as an Uncommitted Purchaser. From and after the date hereof, PNC shall be a party to the Agreement as an “Uncommitted Purchaser” for all purposes thereof and of the other Transaction Documents, and PNC accepts and assumes all related rights and agrees to be bound by all of the terms and provisions applicable to “Uncommited Purchasers” contained in the Agreement and the other Transaction Documents.

 

2

 

(ii)                                  Consent to Joinder.  Each of the parties hereto consents to the foregoing joinder of PNC to the Agreement in the capacity of an “Uncommitted Purchaser” and any otherwise applicable conditions precedent thereto under the Agreement and the other Transactions Documents (other than as set forth herein) are hereby waived.

 

4.                                      Amendments to the Agreement.  As of the Effective Date (as defined below), the Agreement is hereby amended as follows:

 

(i)                                     Each reference to “Mizuho Corporate Bank, Ltd.” (however defined or referenced) in the Agreement shall be deemed to be a reference to “Mizuho Bank, Ltd.”

 

(ii)                                  The signature block as well as the notice information thereunder for Market Street set forth on signature page S-6 of the Agreement are hereby deleted in their entirety.

 

(iii)                               The notice information for PNC in each of its capacities under the Agreement is hereby replaced in its entirety with the following:

 

Address:                                                 PNC Bank, National Association

Three PNC Plaza

225 Fifth Avenue

Pittsburgh, PA 15222-2707

Attention:                 Robyn Reeher

Telephone:           (412) 768-3090

Facsimile:                 (412) 762-9184

 

(iv)                              Section 4.4 of the Agreement is hereby amended by replacing the term “Yield Period” where it appears therein with the term “Interest Period”.

 

(v)                                 The following new defined term and definition thereof are hereby added to Exhibit I to the Agreement in appropriate alphabetical order:

 

“PNC” means PNC Bank, National Association, and its successors.

 

(vi)                              The definition of “LIBO Rate” set forth in Exhibit I to the Agreement is hereby amended by replacing the term “Wells Fargo” in each instance where it occurs therein with the phrase “Wells Fargo and PNC”.

 

(vii)                           The definition of “LIBOR Market Index Rate” set forth in Exhibit I to the Agreement is hereby amended by replacing the term “three-month” where it occurs therein with the term “one-month”.

 

(viii)                        Exhibit II to the Agreement is hereby replaced in its entirety with Exhibit A attached hereto.

 

(ix)                              Exhibit VI to the Agreement is hereby replaced in its entirety with Exhibit B attached hereto.

 

3

 

(x)                                 Exhibit XII to the Agreement is hereby replaced in its entirety with Exhibit C attached hereto.

 

(xi)                              Exhibit XIV to the Agreement is hereby replaced in its entirety with Exhibit D attached hereto.

 

(xii)                           Exhibit XV to the Agreement is hereby replaced in its entirety with Exhibit E attached hereto.

 

(xiii)                        Exhibit XVI to the Agreement is hereby replaced in its entirety with Exhibit F attached hereto.

 

5.                                      Representations and Warranties; Covenants.  Each of the Seller and the Servicer (on behalf of the Seller) hereby certifies, represents and warrants to the Administrator, each Purchaser Agent, each Purchaser and the Assignee that on and as of the date hereof:

 

(i)                                     each of its representations and warranties contained in Article V of the Agreement is true and correct, in all material respects, as if made on and as of the Effective Date;

 

(ii)                                  no event has occurred and is continuing, or would result from this Amendment or any of the transactions contemplated herein, that constitutes an Amortization Event or Unmatured Amortization Event;

 

(iii)                               the Facility Termination Date for all Purchaser Groups has not occurred; and

 

(iv)                              the Credit Agreement has not been amended since November 20, 2012.

 

6.                                      Effect of Amendment.  Except as expressly amended and modified by this Amendment, all provisions of the Agreement shall remain in full force and effect.  After this Amendment becomes effective, all references in the Agreement and each of the other Transaction Documents to “this Agreement”, “hereof”, “herein”, or words of similar effect referring to the Agreement shall be deemed to be references to the Agreement, as amended by this Amendment.  This Amendment shall not be deemed to expressly or impliedly waive, amend or supplement any provision of the Agreement (or any related document or agreement) other than as expressly set forth herein.

 

7.                                      Effectiveness. This Amendment shall become effective on the date hereof (the “Effective Date”) upon satisfaction of each of the following conditions:

 

(a)                                 receipt by the Administrator and each Purchaser Agent of counterparts of (i) this Amendment and (ii) the amended and restated Fee Letter, dated as of the date hereof, by and among the Seller, the Servicer, the Administrator and each Purchaser Agent;

 

(b)                                 receipt by the Assignor of the Payoff Amount in its entirety in accordance with Section 2 of this Amendment; and

 

4

 

(c)                                  such other documents and instruments as a Purchaser Agent may reasonably request, in form and substance satisfactory to such Purchaser Agent.

 

8.                                      Counterparts.  This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, and each counterpart shall be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.  Counterparts of this Amendment may be delivered by facsimile transmission or other electronic transmission, and such counterparts shall be as effective as if original counterparts had been physically delivered, and thereafter shall be binding on the parties hereto and their respective successors and assigns.

 

9.                                      Governing Law.  This Amendment shall be governed by, and construed in accordance with the law of the State of New York without regard to any otherwise applicable principles of conflicts of law (other than Sections 5-1401 and 5-1402 of the New York General Obligations Law).

 

10.                               Section Headings.  The various headings of this Amendment are inserted for convenience only and shall not affect the meaning or interpretation of this Amendment, the Agreement or any other Transaction Document or any provision hereof or thereof.

 

11.                               Transaction Document.  This Amendment shall constitute a Transaction Document under the Agreement.

 

12.                               No Proceedings.  Each party hereto hereby covenants and agrees that prior to the date which is one year and one day after the payment in full of all outstanding commercial paper notes or other indebtedness of Market Street, it will not institute against or join any other Person in instituting against Market Street any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar proceeding under the laws of the United States or any state of the United States.  The provisions of this Section 12 shall survive any termination of the Agreement.

 

13.                               Severability.  Each provision of this Amendment shall be severable from every other provision of this Amendment for the purpose of determining the legal enforceability of any provision hereof, and the unenforceability of one or more provisions of this Amendment in one jurisdiction shall not have the effect of rendering such provision or provisions unenforceable in any other jurisdiction.

 

14.                               Ratification.  After giving effect to this Amendment and the transactions contemplated hereby, all of the provisions of the Performance Undertaking shall remain in full force and effect and the Performance Guarantor hereby ratifies and affirms the Performance Undertaking and acknowledges that the Performance Undertaking has continued and shall continue in full force and effect in accordance with its terms.

 

5

 

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

 

	
 
    	
AMERISOURCE   RECEIVABLES FINANCIAL CORPORATION, as Seller
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   J.F. Quinn
    
	
 
    	
Name:
    	
J.F.   Quinn
    
	
 
    	
Title:
    	
Vice   President & Corporate Treasurer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
AMERISOURCEBERGEN   DRUG CORPORATION, as initial Servicer
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   J.F. Quinn
    
	
 
    	
Name:
    	
J.F.   Quinn
    
	
 
    	
Title:
    	
Vice   President & Corporate Treasurer
    
	
 
    	
 
    
	
 
    	
 
    
	
Acknowledged   and Agreed
    	
 
    
	
 
    	
 
    
	
AMERISOURCEBERGEN
    	
 
    
	
CORPORATION
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:   
    	
/s/   J.F. Quinn
    	
 
    
	
Name:
    	
J.F.   Quinn
    	
 
    
	
Title:
    	
Vice   President & Corporate
    	
 
    
	
 
    	
Treasurer
    	
 
    
					

 

	
 
    	
S-1
    	
Sixth Amendment to RPA
    
	
(ARFC)
    

 

 

	
 
    	
THE   BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH,
    
	
 
    	
as   Administrator
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Luna Mills
    
	
 
    	
Name:
    	
Luna   Mills
    
	
 
    	
Title:
    	
Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
VICTORY   RECEIVABLES CORPORATION,
   as an Uncommitted Purchaser
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   David V. DeAngelis
    
	
 
    	
Name:
    	
David   V. DeAngelis
    
	
 
    	
Title:
    	
Vice   President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
THE   BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH,
    
	
 
    	
as   Purchaser Agent for
    
	
 
    	
Victory   Receivables Corporation
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Luna Mills
    
	
 
    	
Name:
    	
Luna   Mills
    
	
 
    	
Title:
    	
Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
THE   BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH,
    
	
 
    	
as   Related Committed Purchaser
    
	
 
    	
for   Victory Receivables Corporation
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   B. McNany
    
	
 
    	
Name:
    	
B.   McNany
    
	
 
    	
Title:
    	
Vice   President
    

 

	
 
    	
S-2
    	
Sixth Amendment to RPA
    
	
(ARFC)
    

 

 

	
 
    	
WELLS   FARGO BANK, NATIONAL ASSOCIATION,
    
	
 
    	
as   an Uncommitted Purchaser
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Ryan C. Tozier
    
	
 
    	
Name:
    	
Ryan   C. Tozier
    
	
 
    	
Title:
    	
Assistant   Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
WELLS   FARGO BANK, NATIONAL ASSOCIATION,
    
	
 
    	
as   Purchaser Agent and
    
	
 
    	
Related   Committed Purchaser
    
	
 
    	
for   Wells Fargo Bank, National Association
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Ryan C. Tozier
    
	
 
    	
Name:
    	
Ryan   C. Tozier
    
	
 
    	
Title:
    	
Assistant   Vice President
    

 

	
 
    	
S-3

 
    	
Sixth Amendment to RPA
    
	
(ARFC)
    

 

 

	
 
    	
LIBERTY   STREET FUNDING LLC,
    
	
 
    	
as   an Uncommitted Purchaser
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Jill A. Russo
    
	
 
    	
Name:
    	
Jill   A. Russo
    
	
 
    	
Title:
    	
Vice   President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
THE   BANK OF NOVA SCOTIA,
    
	
 
    	
as   Purchaser Agent and
    
	
 
    	
Related   Committed Purchaser
    
	
 
    	
for   Liberty Street Funding LLC
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Terry Donovan
    
	
 
    	
Name:
    	
Terry   Donovan
    
	
 
    	
Title:
    	
Managing   Director
    

 

	
 
    	
S-4

 
    	
Sixth Amendment to RPA
    
	
(ARFC)
    

 

 

	
 
    	
MARKET   STREET FUNDING LLC,
    
	
 
    	
as   an Uncommitted Purchaser and as Assignor
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Doris J. Hearn
    
	
 
    	
Name:
    	
Doris   J. Hearn
    
	
 
    	
Title:
    	
Vice   President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
PNC   BANK, NATIONAL ASSOCIATION,
    
	
 
    	
as   a Purchaser Agent,
    
	
 
    	
as   Related Committed Purchaser
    
	
 
    	
and   as Assignee
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Mark S. Falcione
    
	
 
    	
Name:
    	
Mark   S. Falcione
    
	
 
    	
Title:
    	
Executive   Vice President
    

 

	
 
    	
S-5

 
    	
Sixth Amendment to RPA
    
	
(ARFC)
    

 

 

	
 
    	
WORKING   CAPITAL
    
	
 
    	
MANAGEMENT   CO., LP,
    
	
 
    	
as   Uncommitted Purchaser and
    
	
 
    	
as   Related Committed Purchaser for
    
	
 
    	
Working   Capital Management Co., LP
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Shinichi Nochiide
    
	
 
    	
Name:
    	
Shinichi   Nochiide
    
	
 
    	
Title:
    	
Attorney-in-Fact
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
MIZUHO   BANK, LTD.,
    
	
 
    	
as   Purchaser Agent for
    
	
 
    	
Working   Capital Management Co., LP
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Bertram H. Tang
    
	
 
    	
Name:
    	
Bertram   H. Tang
    
	
 
    	
Title:
    	
Authorized   Signatory
    

 

	
 
    	
S-6
    	
Sixth   Amendment to RPA
    
	
 
    	
 
    	
(ARFC)
    

 

 

SCHEDULE I

 

ASSIGNMENTS AND PAYMENT AMOUNTS

 

	
Section 1.
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Capital Payment:
    	
 
    	
$
    	
0
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Section 2.
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
CP Costs:
    	
 
    	
$
    	
0
    	
 
    
	
Fees:
    	
 
    	
$
    	
26,520.00
    	
 
    
	
Other Amounts:
    	
 
    	
$
    	
0
    	
 
    
	
CP Costs and Other Costs:
    	
 
    	
$
    	
26,520.00
    	
 
    

 

 

EXHIBIT A

 

EXHIBIT II

 

FORM OF PURCHASE NOTICE

 

 

AMERISOURCE RECEIVABLES FINANCIAL CORPORATION

 

PURCHASE NOTICE
 dated                             , 20    
 for Purchase on                                 , 20    

 

The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch
 1251 Avenue of the Americas
 New York, NY 10020
 Attention:  Luna Mills 
 Telephone:  (212) 782-6959
 Facsimile:  (212) 782-6998

 

[Address to each Purchaser Agent]

 

Ladies and Gentlemen:

 

Reference is made to the Amended and Restated Receivables Purchase Agreement dated as of April 29, 2010 (as amended, supplemented or otherwise modified from time to time, the “Agreement”) among Amerisource Receivables Financial Corporation (the “Seller”), AmerisourceBergen Drug Corporation, as initial Servicer, the various Purchaser Groups from time to time party thereto, and The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch, as Administrator.  Capitalized terms defined in the Agreement are used herein with the same meanings.

 

1.  The [Servicer, on behalf of the] Seller hereby certifies, represents and warrants to the Administrator, each Purchaser Agent and each Purchaser that on and as of the Purchase Date (as hereinafter defined):

 

(a)                                 all applicable conditions precedent set forth in Article VI of the Agreement have been satisfied;

 

(b)                                 each of its representations and warranties contained in Article V of the Agreement will be true and correct, in all material respects, as if made on and as of the Purchase Date;

 

(c)                                  no event has occurred and is continuing, or would result from the requested Purchase, that constitutes an Amortization Event or Unmatured Amortization Event;

 

(d)                                 the applicable Facility Termination Date has not occurred; and

 

Exhibit II-1

 

(e)                                  after giving effect to the Purchase requested below, (i) no Related Committed Purchaser’s aggregate Invested Amount shall exceed its Available Commitment, (ii) no Purchaser Group’s Group Invested Amount shall exceed its Group Commitment, and (iii) the aggregate of the Receivable Interests shall not exceed 100%.

 

2.  The [Servicer, on behalf of the] Seller hereby requests that the Purchasers make a Purchase on                       , 20     (the “Purchase Date”) as follows:

 

(a)                                 Purchase Price:  $                           

 

(b)                                 (X)                               Ratable Share1:

 

(i)                                     Liberty Street Funding LLC’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

(ii)                                  PNC Bank, National Association’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

(iii)                               Victory Receivables Corporation’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

(iv)                              Wells Fargo Bank, National Association’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

(v)                                 Working Capital Management Co., LP’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

1                                         For Purchases based on the Ratable Share.

 

Exhibit II-2

 

(Y)                               Accordion Ratable Share2:

 

(i)                                     Liberty Street Funding LLC’s Purchaser Group:                                                                                  $                           

 

(ii)                                  PNC Bank, National Association’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

(iii)                               Victory Receivables Corporation’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

(iv)                              Wells Fargo Bank, National Association’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

(v)                                 Working Capital Management Co., LP’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

3.  Please disburse the proceeds of the Purchase as follows:

 

[Apply $                 to payment of Aggregate Unpaids due on the Purchase Date].  [Wire transfer $                 to the Facility Account.]

 

2                                         For Purchases based on the Accordion Ratable Share.

 

Exhibit II-3

 

IN WITNESS WHEREOF, the Servicer, on behalf of the Seller has caused this Purchase Request to be executed and delivered as of this          day of                       ,           .

 

	
 
    	
[AmerisourceBergen Drug Corporation, as   Servicer, on behalf of:]   Amerisource Receivables Financial Corporation, as Seller
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

Exhibit II-4

 

EXHIBIT B

 

EXHIBIT VI

 

FORM OF SETTLEMENT REPORT

 

(attached)

 

 

	

    	
AmerisourceBergen - Securitization Facility

MONTHLY REPORT
    	
 
    

 

I. Total Investment

 

	
 
    	
CP Outstanding
    	
 
    	
TOTAL
    	
 
    
	
1 
    	
CP   Outstanding as of the Previous Month End
    	
 
    	
$
    	
0
    	
 
    
	
2 
    	
Addition   (+) or Reduction (-) in CP During Current Month
    	
 
    	
$
    	
0
    	
 
    
	
3 
    	
New CP Outstanding (Net Investment)
    	
 
    	
$
    	
0
    	
 
    

 

II. Portfolio Aging

 

	
 
    	
A
    	
 
    	
B
    	
 
    	
C
    	
 
    	
D
    	
 
    	
E
    	
 
    	
F
    	
 
    	
G
    	
 
    	
H
    	
 
    
	
 
    	
Futures / Current
    	
 
    	
1-30 Days Past Due
    	
 
    	
31-60 Days Past
   Due
    	
 
    	
61-90 Days Past
   Due
    	
 
    	
91- 120 Days Past
   Due
    	
 
    	
121-150 Days Past
   Due
    	
 
    	
151+ Days Past Due
    	
 
    	
Total
    	
 
    
	
4 
    	
0
    	
 
    	
0
    	
 
    	
0
    	
 
    	
0
    	
 
    	
0
    	
 
    	
0
    	
 
    	
0
    	
 
    	
0
    	
 
    
	
 
    	
#DIV/0!
    	
 
    	
#DIV/0!
    	
 
    	
#DIV/0!
    	
 
    	
#DIV/0!
    	
 
    	
#DIV/0!
    	
 
    	
#DIV/0!
    	
 
    	
#DIV/0!
    	
 
    	
#DIV/0!
    	
 
    

 

III. Portfolio Activity

 

	
 
    	
 
    	
A
    	
 
    	
B
    	
 
    	
C
    	
 
    	
D
    	
 
    	
E
    	
 
    	
F
    	
 
    	
G
    	
 
    
	
 
    	
 
    	
Beginning Balance
    	
 
    	
Gross Sales (+)
    	
 
    	
Collections (-)
    	
 
    	
Total Dilutive Credits
   (-)
    	
 
    	
Net Writeoffs (-)
    	
 
    	
Other Non-Dilutive
   Adj. (+)
    	
 
    	
Transfers In/Out (+)
    	
 
    
	
 
    	
5 
    	
0
    	
 
    	
0
    	
 
    	
0
    	
 
    	
0
    	
 
    	
0
    	
 
    	
0
    	
 
    	
0
    	
 
    

 

	
 
    	
 
    	
H
    	
 
    	
I
    	
 
    	
 
    	
 
    	
J
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Notes Receivables
   (+)
    	
 
    	
Month End Rec.
   Balance
    	
 
    	
 
    	
 
    	
DOD Adjustment?
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
1 
    	
0
    	
 
    	
0
    	
 
    	
 
    	
 
    	
0
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

IV. Eligible Receivables Balance

 

	
 
    	
 
    	
 
    	
(-)
    	
 
    	
(+)
    	
 
    
	
6 
    	
Total Ending A/R
    	
 
    	
 
    	
 
    	
0
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
7 
    	
Delinquent   Receivables (61-120 DPD)
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
8 
    	
Defaulted   Receivables (121-150 DPD)
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
9 
    	
Defaulted   Receivables 151+ DPD
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
10 
    	
Write-offs   < 60DPD
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
11 
    	
Bankrupt   Customers < 60DPD
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
12 
    	
Intercompany   / Affiliate Receivables < 60DPD
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
13 
    	
Foreign   Receivables < 60 DPD
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
14 
    	
Contra   Relationships
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
15 
    	
Cross   Age Test 35% > 60 DPD
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
16 
    	
Excess   31-60 Days Terms (5% of End Balance)
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
17 
    	
Excess   61-90 Days Terms (5% of End Balance)
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
18 
    	
Notes   Receivables
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
19 
    	
Service   Fee Reserve
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
20 
    	
Unapplied   Cash
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
21 
    	
Other   Ineligibles
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
22 
    	
Total Ineligible Receivables
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
23 
    	
DOD Adjustments
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
24 
    	
Total Eligible Receivables
    	
 
    	
 
    	
 
    	
0
    	
 
    

 

V. Concentration Receivables

 

	
 
    	
 
    	
 
    	
A
    	
 
    	
B
    	
 
    	
C
    	
 
    	
D
    	
 
    
	
 
    	
Obligor Name
    	
 
    	
Receivables
    	
 
    	
Concentration Limit
   ($)
    	
 
    	
Purchase Limit (%)
    	
 
    	
Excess
   Concentrations
    	
 
    
	
1 
    	
Special Concentration   Obligor Name
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.0%
    	
 
    	
—
    	
 
    
	
2 
    	
Special Concentration   Obligor Name
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.0%
    	
 
    	
—
    	
 
    
	
3 
    	
Special Concentration   Obligor Name
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.0%
    	
 
    	
—
    	
 
    
	
4 
    	
Obligor Name
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.0%
    	
 
    	
—
    	
 
    
	
5 
    	
Obligor Name
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.0%
    	
 
    	
—
    	
 
    
	
6 
    	
Obligor Name
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.0%
    	
 
    	
—
    	
 
    
	
7 
    	
Obligor Name
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.0%
    	
 
    	
—
    	
 
    
	
8 
    	
Obligor Name
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.0%
    	
 
    	
—
    	
 
    
	
9 
    	
Obligor Name
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.0%
    	
 
    	
—
    	
 
    
	
10 
    	
Obligor Name
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.0%
    	
 
    	
—
    	
 
    
	
11 
    	
Obligor Name
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.0%
    	
 
    	
—
    	
 
    
	
12 
    	
Obligor Name
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.0%
    	
 
    	
—
    	
 
    
	
13 
    	
Obligor Name
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.0%
    	
 
    	
—
    	
 
    
	
14 
    	
Obligor Name
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.0%
    	
 
    	
—
    	
 
    
	
15 
    	
Obligor Name
    	
 
    	
—
    	
 
    	
—
    	
 
    	
0.0%
    	
 
    	
—
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
25 
    	
Total   Excess Concentrations
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
0
    	
 
    

 

VI. Net Receivable Balance

 

	
26 
    	
Excess   Government (10% of Eligible)
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
27 
    	
Taxes
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
28 
    	
Rebate   Reserve
    	
 
    	
0
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
29 
    	
Net Receivable Balance (NRB)
    	
 
    	
 
    	
 
    	
0
    	
 
    

 

 

VII. Reserve Calculations

 

	
 
    	
Loss Reserve 
    	
 
    	
%
    	
 
    	
$
    	
 
    
	
30 
    	
Dynamic   Loss Reserve
    	
 
    	
0.00%
    	
 
    	
0
    	
 
    
	
31 
    	
Loss   Floor
    	
 
    	
0.00%
    	
 
    	
0
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
Dilution Reserve 
    	
 
    	
%
    	
 
    	
$
    	
 
    
	
32 
    	
Dynamic   Dilution Reserve
    	
 
    	
0.00%
    	
 
    	
0
    	
 
    
	
33 
    	
Dilution   Floor
    	
 
    	
0.00%
    	
 
    	
0
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
Yield Reserve 
    	
 
    	
%
    	
 
    	
$
    	
 
    
	
34 
    	
Yield   Reserve
    	
 
    	
0.00%
    	
 
    	
0
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
Servicing Reserve 
    	
 
    	
%
    	
 
    	
$
    	
 
    
	
35 
    	
Servicing   Reserve
    	
 
    	
0.00%
    	
 
    	
0
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
36 
    	
A Dynamic Loss Reserve plus Dynamic Dilution Reserve
    	
 
    	
0.00%
    	
 
    	
0
    	
 
    
	
37 
    	
B Loss Floor plus Dilution Floor
    	
 
    	
0.00%
    	
 
    	
0
    	
 
    
	
38 
    	
C Yield Reserve plus Servicing Reserve
    	
 
    	
0.00%
    	
 
    	
0
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
39 
    	
Greater   of (A, B) plus C
    	
 
    	
0.00%
    	
 
    	
0
    	
 
    

 

VIII. Computation of Investment

 

	
40 
    	
CP Outstanding
    	
 
    	
 
    	
 
    	
0
    	
 
    
	
41 
    	
Net Receivable Balance   (NRB)
    	
 
    	
 
    	
 
    	
0
    	
 
    
	
42 
    	
Total Reserves
    	
 
    	
 
    	
 
    	
0
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
43 
    	
Availability   (NPB Based)
    	
 
    	
 
    	
 
    	
0
    	
 
    
	
44 
    	
Maximum   Possible Borrowing (Commitment)
    	
 
    	
 
    	
 
    	
0
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
45 
    	
Additional   Funding (Positive) / Mandatory Paydown (if Negative)
    	
 
    	
 
    	
 
    	
0
    	
 
    

 

IX. Performance Ratio Calculations

 

	
 
    	
 
    	
A
    	
 
    	
B
    	
 
    	
C
    	
 
    	
D
    	
 
    	
E
    	
 
    	
F
    	
 
    	
G
    	
 
    
	
 
    	
 
    	
Default Ratio
    	
 
    	
Delinquency Ratio
    	
 
    	
Dilution Ratio
    	
 
    	
DSO
    	
 
    
	
 
    	
Month
    	
 
    	
Current
    	
 
    	
3-Month Rolling
   Average
    	
 
    	
Current
    	
 
    	
3-Month Rolling
   Average
    	
 
    	
Current
    	
 
    	
3-Month Rolling
   Average
    	
 
    	
Current
    	
 
    
	
46 
    	
Month 1
    	
 
    	
0.00%
    	
 
    	
0.00%
    	
 
    	
0.00%
    	
 
    	
0.00%
    	
 
    	
0.00%
    	
 
    	
0.00%
    	
 
    	
0.00
    	
 
    
	
47 
    	
Month 2
    	
 
    	
0.00%
    	
 
    	
0.00%
    	
 
    	
0.00%
    	
 
    	
0.00%
    	
 
    	
0.00%
    	
 
    	
0.00%
    	
 
    	
0.00
    	
 
    
	
48 
    	
Month 3
    	
 
    	
0.00%
    	
 
    	
0.00%
    	
 
    	
0.00%
    	
 
    	
0.00%
    	
 
    	
0.00%
    	
 
    	
0.00%
    	
 
    	
0.00
    	
 
    

 

X. Compliance

 

	
49 
    	
Is the Asset Interest   [(CP Outstanding + Total Reserves) / NRB] < 100%
    	
 
    	
Compliant
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
50 
    	
Is the current 3-month   rolling average Default Ratio  < 0.50%
    	
 
    	
Compliant
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
51 
    	
Is the current 3-month   rolling average Delinquency Ratio <   3.25%
    	
 
    	
Compliant
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
52 
    	
Is the current 3-month   rolling average Dilution Ratio <   4.25%
    	
 
    	
Compliant
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
53 
    	
Is the current 1-month   DSO < 25 Days
    	
 
    	
Compliant
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
54 
    	
Is the amount   outstanding < Facility Limit?
    	
 
    	
Compliant
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
55 
    	
Is the Leverage Ratio   maintained at 3:1?
    	
 
    	
Yes
    	
 
    

 

The undersigned hereby represents and warrants that the foregoing is a true and accurate accounting with respect to outstanding receivables as of                         in accordance with the Receivables Purchase Agreement dated                         and that all representations and warranties related to such Agreement are restated and affirmed.

 

 

	
x
    	
 
    	
 
    
	
Name:
    	
Julie Frantz
    	
 
    	
Date:
    
	
Title:
    	
Director of Treasury
    	
 
    	
 
    

 

 

EXHIBIT C

 

EXHIBIT XII

 

FORM OF REDUCTION NOTICE

 

                            ,       

 

The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch
 1251 Avenue of the Americas
 New York, NY 10020
 Attention:  Luna Mills 
 Telephone:  (212) 782-6959
 Facsimile:  (212) 782-6998

 

[Address to each Purchaser Agent]

 

Ladies and Gentlemen:

 

Reference is hereby made to the Amended and Restated Receivables Purchase Agreement, dated as of April 29, 2010 (as amended, supplemented or otherwise modified, the “Receivables Purchase Agreement”), among Amerisource Receivables Financial Corporation, as Seller, AmerisourceBergen Drug Corporation, as Servicer, the various purchaser groups from time to time party thereto, and The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch, as Administrator.  Capitalized terms used in this Reduction Notice and not otherwise defined herein shall have the meanings assigned thereto in the Receivables Purchase Agreement.

 

This letter constitutes a Reduction Notice pursuant to Section 1.3 of the Receivables Purchase Agreement.  The Seller desires to reduce the Aggregate Invested Amount on                         ,           3 by the application of cash to pay Aggregate Invested Amount and Yield to accrue (until such cash can be used to pay commercial paper notes) with respect to such Aggregate Invested Amount, together with all costs related to such reduction of Aggregate Invested Amount, as follows:

 

(a)                                 Reduction Amount:  $                           

 

(b)                                 (X)                               Ratable Share4:

 

(i)                                     Liberty Street Funding LLC’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

(ii)                                  PNC Bank, National Association’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

3                                         Notice must be given at least one Business Day prior to the requested reduction date.

4                                         For reductions based on the Ratable Share.

 

Exhibit XII-1

 

(iii)                               Victory Receivables Corporation’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

(iv)                              Wells Fargo Bank, National Association’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

(v)                                 Working Capital Management Co., LP’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

(X)                               Accordion Ratable Share(5):

 

(i)                                     Liberty Street Funding LLC’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

(ii)                                  PNC Bank, National Association’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

(iii)                               Victory Receivables Corporation’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

(iv)                              Wells Fargo Bank, National Association’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

(v)                                 Working Capital Management Co., LP’s
 Purchaser Group:                                                                                                                                                                                                                                                  $                           

 

5                                         For reductions based on the Accordion Ratable Share.

 

Exhibit XII-2

 

IN WITNESS WHEREOF, the undersigned has caused this Reduction Notice to be executed by its duly authorized officer as of the date first above written.

 

	
 
    	
AMERISOURCE   RECEIVABLES FINANCIAL CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

Exhibit XII-3

 

EXHIBIT D

 

EXHIBIT XIV

 

FORM OF PURCHASE LIMIT INCREASE REQUEST

 

                       ,        

 

The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch
 1251 Avenue of the Americas
 New York, NY 10020
 Attention:  Luna Mills 
 Telephone:  (212) 782-6959

Facsimile:  (212) 782-6998

 

[Address to each Purchaser Agent]

 

Ladies and Gentlemen:

 

Reference is hereby made to the Amended and Restated Receivables Purchase Agreement, dated as of April 29, 2010 (as heretofore amended or supplemented, the “Receivables Purchase Agreement”), among Amerisource Receivables Finance Corporation, as Seller, AmerisourceBergen Drug Corporation, as Servicer, the various purchaser groups from time to time party thereto, and The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch, as Administrator.  Capitalized terms used in this Purchase Limit Increase Request and not otherwise defined herein shall have the meanings assigned thereto in the Receivables Purchase Agreement.

 

This letter constitutes a Purchase Limit Increase Request pursuant to Section 1.1(b) of the Receivables Purchase Agreement.  The Seller desires to increase the Purchase Limit and respective Commitments of each Purchaser Group on           ,         6 to the following amounts:

 

(a)                                 Purchase Limit:  $                           

 

(b)                                 Ratable Share of Each Purchaser Group:

 

(i)                                     Liberty Street Funding LLC:  $                           

 

(ii)                                  PNC Bank, National Association:  $                           

 

(iii)                               Victory Receivables Corporation:  $                           

 

(iv)                              Wells Fargo Bank, National Association:  $                           

 

6                                         Notice must be given at least ten Business Days prior to the requested increase, and must be in a minimum amount of $50,000,000.

 

Exhibit XIV-1

 

(v)                                 Working Capital Management Co., LP:  $                           

 

Seller hereby represents and warrants as of the date hereof, and as of the date of this increase, as follows:

 

(i)                                     the representations and warranties contained in Section V of the Receivables Purchase Agreement are correct in all material respects on and as of such dates as though made on and as of such dates and shall be deemed to have been made on such dates; and

 

(ii)                                  no event has occurred and is continuing, or would result from the increase proposed hereby, that constitutes an Amortization Event or an Unmatured Amortization Event.

 

Each Purchaser Agent shall notify the Seller and the Administrator in writing whether it consents to this increase request within ten (10) Business Days; provided that if any Purchaser Agent fails to so notify the Seller or the Administrator, the applicable Purchasers shall be deemed to have refused to consent to this increase request.

 

Exhibit XIV-2

 

IN WITNESS WHEREOF, the undersigned has caused this Purchase Limit Increase Request to be executed by its duly authorized officer as of the date first above written.

 

	
 
    	
AMERISOURCE   RECEIVABLES FINANCIAL CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

Exhibit XIV-3

 

EXHIBIT E

 

EXHIBIT XV

 

FORM OF PURCHASE LIMIT DECREASE NOTICE

 

                       ,          

 

The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch
 1251 Avenue of the Americas
 New York, NY 10020
 Attention:  Luna Mills 
 Telephone:  (212) 782-6959

Facsimile:  (212) 782-6998

 

[Address to each Purchaser Agent] — [PURCHASER AGENTS TO PROVIDE]

 

Ladies and Gentlemen:

 

Reference is hereby made to the Amended and Restated Receivables Purchase Agreement, dated as of April 29, 2010 (as heretofore amended or supplemented, the “Receivables Purchase Agreement”), among Amerisource Receivables Finance Corporation, as Seller, AmerisourceBergen Drug Corporation, as Servicer, the various purchaser groups from time to time party thereto, and The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch, as Administrator.  Capitalized terms used in this Purchase Limit Decrease Notice and not otherwise defined herein shall have the meanings assigned thereto in the Receivables Purchase Agreement.

 

This letter constitutes a Purchase Limit Decrease Notice pursuant to Section 1.1(b) of the Receivables Purchase Agreement.  The Seller desires to decrease the Purchase Limit and respective Commitments of each Purchaser Group on           ,         7 to the following amounts:

 

(a)                                 Purchase Limit:  $                           

 

(b)                                 Ratable Share of Each Purchaser Group:

 

(i)                                     Liberty Street Funding LLC:  $                           

 

(ii)                                  PNC Bank, National Association:  $                           

 

(iii)                               Victory Receivables Corporation:  $                           

 

7                                         Notice must be given at least ten Business Days prior to the requested decrease, and must be in a minimum amount of $50,000,000.

 

Exhibit XV-1

 

(iv)                              Wells Fargo Bank, National Association:  $                           

 

(v)                                 Working Capital Management Co., LP:  $                           

 

Seller hereby represents and warrants as of the date hereof, and as of the date of this decrease, as follows:

 

(i)                                     the representations and warranties contained in Section V of the Receivables Purchase Agreement are correct in all material respects on and as of such dates as though made on and as of such dates and shall be deemed to have been made on such dates; and

 

(ii)                                  no event has occurred and is continuing, or would result from the increase proposed hereby, that constitutes an Amortization Event or an Unmatured Amortization Event.

 

Exhibit XV-2

 

IN WITNESS WHEREOF, the undersigned has caused this Purchase Limit Decrease Notice to be executed by its duly authorized officer as of the date first above written.

 

	
 
    	
AMERISOURCE   RECEIVABLES FINANCIAL CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

Exhibit XV-3

 

EXHIBIT F

 

EXHIBIT XVI

 

FORM OF ACCORDION CONFIRMATION

 

                      ,         

 

The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch
 1251 Avenue of the Americas
 New York, NY 10020
 Attention:  Luna Mills 
 Telephone:  (212) 782-6959

 

Facsimile:  (212) 782-6998

 

[Address to each Purchaser Agent]

 

Ladies and Gentlemen:

 

Reference is hereby made to the Amended and Restated Receivables Purchase Agreement, dated as of April 29, 2010 (as heretofore amended or supplemented, the “Receivables Purchase Agreement”), among Amerisource Receivables Finance Corporation, as Seller, AmerisourceBergen Drug Corporation, as Servicer, the various purchaser groups from time to time party thereto, and The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch, as Administrator.  Capitalized terms used in this Accordion Confirmation and not otherwise defined herein shall have the meanings assigned thereto in the Receivables Purchase Agreement.

 

This letter constitutes an Accordion Confirmation pursuant to Section 1.1(b) of the Receivables Purchase Agreement.  This Accordion Confirmation sets forth the Accordion Group Commitments as consented to by such Purchaser Group’s Purchaser Agent for the Accordion Period beginning on            and ending on         , and the resulting changes in the Purchase Limit and Group Commitments for such period.

 

Exhibit XVI-1

 

(a)                                 Group Commitments

 

	
Purchaser Group
    	
 
    	
Non-Accordion
   Group
   Commitment
    	
 
    	
Accordion
   Group
   Commitment
    	
 
    	
Group
   Commitment
    	
 
    
	
Liberty Street Funding LLC
    	
 
    	
$
    	
 
    	
 
    	
$
    	
 
    	
 
    	
 
    	
 
    
	
PNC Bank, National Association
    	
 
    	
$
    	
 
    	
 
    	
$
    	
 
    	
 
    	
 
    	
 
    
	
Victory Receivables Corporation
    	
 
    	
$
    	
 
    	
 
    	
$
    	
 
    	
 
    	
 
    	
 
    
	
Wells Fargo Bank, National Association
    	
 
    	
$
    	
 
    	
 
    	
$
    	
 
    	
 
    	
 
    	
 
    
	
Working Capital Management Co., LP
    	
 
    	
$
    	
 
    	
 
    	
$
    	
 
    	
 
    	
 
    	
 
    

 

(b)                                 Ratable Share and Accordion Ratable Share of Each Purchaser Group, expressed as a percentage:

 

	
Purchaser Group
    	
 
    	
Ratable Share
    	
 
    	
Accordion Ratable
   Share
    	
 
    
	
Liberty Street Funding LLC
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
PNC Bank, National Association
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Victory Receivables Corporation
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Wells Fargo Bank, National Association
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Working Capital Management Co., LP
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

Exhibit XVI-2

 

(c)                                  Purchase Limit:  $                        

 

(i)                                     Non-Accordion Purchase Limit:  $                        

 

(ii)                                  Accordion Purchase Limit:  $                        

 

Seller hereby represents and warrants as of the date hereof, and as of the date of this increase, as follows:

 

(i)                                     the representations and warranties contained in Section V of the Receivables Purchase Agreement are correct in all material respects on and as of such dates as though made on and as of such dates and shall be deemed to have been made on such dates; and

 

(ii)                                  no event has occurred and is continuing, or would result from the increase proposed hereby, that constitutes an Amortization Event or an Unmatured Amortization Event.

 

Exhibit XVI-3

 

IN WITNESS WHEREOF, the undersigned has caused this Accordion Confirmation to be executed by its duly authorized officer as of the date first above written.

 

	
 
    	
AMERISOURCE   RECEIVABLES FINANCIAL CORPORATION, as Seller
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
AMERISOURCEBERGEN   DRUG CORPORATION, as initial Servicer
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

Exhibit XVI-4

 

	
 
    	
THE   BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, as Administrator
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

Exhibit XVI-5

 

	
 
    	
[PURCHASER   AGENT FOR INCREASING PURCHASER GROUP]
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

Exhibit XVI-6

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