Document:

Exhibit 10(II)--Amend #3 to the Credit Agreement

 

EXHIBIT 10(ii)

AMENDMENT NO. 3 TO

AMENDED AND RESTATED CREDIT AGREEMENT

     THIS AMENDMENT NO. 3 TO AMENDED AND RESTATED CREDIT AGREEMENT dated as of
and effective nunc pro tunc as of September 30, 2001 (this “Amendment No. 3”),
by and among COOPER TIRE & RUBBER COMPANY, a Delaware corporation (as more
fully defined in the Existing Credit Agreement referred to below, the
“Borrower”), and the Banks (as defined in the Existing Credit Agreement) and
PNC BANK, NATIONAL ASSOCIATION, in its capacity as the issuer of letters of
credit under the Existing Credit Agreement and as agent for the Banks under the
Existing Credit Agreement (in such capacity, as more fully defined in the
Existing Credit Agreement, as the “Agent”), amends that certain Amended and
Restated Credit Agreement dated as of September 1, 2000, by and among the
Borrower, the Banks and the Agent (such Credit Agreement is herein referred to
as the “Original Credit Agreement”), as amended by that certain Amendment No. 1
to Amended and Restated Credit Agreement dated as of March 27, 2001 (the
“Amendment No. 1”) and that certain Amendment No. 2 to Amended and Restated
Credit Agreement dated as of August 30, 2001 (the “Amendment No. 2”; and the
Original Credit Agreement, as amended by the Amendment No. 1 and the Amendment
No. 2, is herein referred to as the “Existing Credit Agreement”).

WITNESSETH:

     WHEREAS, the Borrower has requested an amendment of certain covenants
contained in the Existing Credit Agreement; and the Banks and the Agent have
agreed to certain amendments to the Existing Credit Agreement upon the terms
and conditions set forth herein.

     NOW THEREFORE, in consideration of the premises (each of which is
incorporated herein by reference), the Borrower, the Banks and the Agent,
intending to be legally bound hereby, agree as follows:

ARTICLE I

AMENDMENTS TO EXISTING CREDIT AGREEMENT

     Section 1.01. Amendment to Section 1.1 of the Existing Credit Agreement.
The following definition set forth in Section 1.1 of the Existing Credit
Agreement is amended and restated to read as follows:

     “Loan Documents” shall mean this Agreement, the Notes, the Requests for
Disbursement, the Amendment No. 1 Loan Documents, the Amendment No. 2 Loan
Documents, the Amendment No. 3 Loan Documents and any other instruments,
certificates or documents delivered or contemplated to be delivered hereunder
or thereunder or in connection herewith or therewith, as the same may be
supplemented or amended from time to time in accordance herewith or therewith;
and “Loan Document” shall mean any of the Loan Documents.

     Section 1.02. Addition of Definitions to Section 1.1 of the Existing
Credit Agreement. The following definitions are hereby added to Section 1.1 of
the Existing Credit Agreement and shall be inserted in their correct
alphabetical order:

     “Amendment No. 3” shall mean that certain Amendment No. 3 to Credit
Agreement dated as of and effective nunc pro tunc as of September 30, 2001, by
and among the Borrower, the Agent and the Banks.

 

     “Amendment No. 3 Closing Date” shall mean October 15, 2001, but
effective as of September 30, 2001, nunc pro tunc.

     “Amendment No. 3 Loan Documents” shall mean this Amendment No. 3, and any
other documents delivered or contemplated to be delivered hereunder or
thereunder or in connection herewith or therewith, as the same may be
supplemented or amended from time to time in accordance herewith or therewith;
and the term “Amendment No. 3 Loan Document” shall mean any of the Amendment
No. 3 Loan Documents.

     Section 1.03. Amendment to Section 5.2 of the Original Credit Agreement.
Section 5.2 of the Original Credit Agreement is amended and restated to read as
follows:

5.2 Fixed Charge Coverage Ratio. The Borrower shall not incur or remain liable for Consolidated Indebtedness owing to any
Person if (a) the incurrence of such Consolidated Indebtedness (after giving
effect thereto) would cause the Borrower to be in violation of any provision of
this Agreement or (b) the Borrower’s Consolidated Net Income Available for
Fixed Charges for the period of the four (4) Fiscal Quarters immediately
preceding the Date of Determination is equal to or less than (i) two hundred
percent (200%) of all Fixed Charges payable in respect of the four (4) Fiscal
Quarter periods ending September 30, 2000 or December 31, 2000, (ii) one
hundred eighty percent (180%) of all Fixed Charges payable in respect of the
four (4) Fiscal Quarter period ending March 31, 2001, (iii) one hundred sixty
percent (160%) for all Fixed Charges payable in respect of the four (4) Fiscal
Quarter periods ending June 30, 2001, (iv) one hundred fifty percent (150%) for
all Fixed Charges payable in respect of the four (4) Fiscal Quarters ending
September 30, 2001, and (v) two hundred percent (200%) for all Fixed Charges
payable in respect of each of the four (4) Fiscal Quarter periods ending on or
after December 31, 2001.

     Section 1.04. No Other Amendments. The amendments to the Existing Credit
Agreement set forth in Sections 1.01, 1.02 and 1.03 of this Amendment No. 3 do
not either implicitly or explicitly alter, waive or amend, except as expressly
provided in this Amendment No. 3, the provisions of the Existing Credit
Agreement. The amendments set forth in Sections 1.01, 1.02 and 1.03 of this
Amendment No. 3 do not waive, now or in the future, compliance with any other
covenant, term or condition to be performed or complied with nor does it impair
any rights or remedies of the Banks or the Agent under the Existing Credit
Agreement with respect to any such violation.

ARTICLE II

BORROWER’S SUPPLEMENTAL REPRESENTATIONS

     As an inducement to the Banks and the Agent to enter into this Amendment
No. 3, the Borrower hereby represents and warrants that:

     Section 2.01. Incorporation by Reference. The Borrower hereby repeats
herein for the benefit of the Banks and the Agent the representations and
warranties made by the Borrower in Article III of the Existing Credit
Agreement, as amended hereby, except that for purposes hereof such
representations and warranties shall be deemed to extend to and cover this
Amendment No. 3.

ARTICLE III

MISCELLANEOUS

     Section 3.01. Ratification of Terms. This Amendment No. 3 shall be
construed in connection with and as part of the Existing Credit Agreement; and
the Existing Credit Agreement is hereby amended and modified to include this
Amendment No. 3. Except as expressly amended by this

 

Amendment No. 3, the Existing Credit Agreement and each and every representation, warranty,
covenant, term and condition contained therein is specifically ratified and
confirmed.

     Section 3.02. References. All notices, communications, agreements,
certificates, documents or other instruments executed and delivered after the
execution and delivery of this Amendment No. 3 may refer to the Existing Credit
Agreement without making specific reference to this Amendment No. 3, but
nevertheless all such references shall include this Amendment No. 3 unless the
context requires otherwise.

     Section 3.03. Counterparts. This Amendment No. 3 may be executed in any
number of counterparts, and by the different parties hereto on separate
counterparts, each of which when so executed and delivered shall be an
original, but all of which together shall constitute one and the same
instrument. Delivery of an executed counterpart of a signature page to this
Amendment No. 3 by telecopier shall be effective as of delivery of a manually
executed counterpart of this Amendment No. 3.

     Section 3.04. Capitalized Terms. Except for proper nouns and as otherwise
defined herein, capitalized terms used herein shall have the meanings ascribed
to them in the Existing Credit Agreement, as amended hereby.

     Section 3.05. Conditions Precedent. It shall be a condition precedent to
the effectiveness of this Amendment No. 3 and to the amendment of terms of the
Existing Credit Agreement as herein set forth that:

     (i)  The Agent shall have received on behalf of the Banks, on or before the
Amendment Effective Date (as hereinafter defined) the following items, each,
unless otherwise indicated, dated on or before the Amendment Effective Date and
in form and substance satisfactory to the Agent and its counsel:

          (A)  A duly executed counterpart original of this Amendment No. 3;

          (B)  A copy of the corporate action of the Borrower certified by the
Secretary or Assistant Secretary of the Borrower to authorize the execution and
delivery of, and performance under, this Amendment No. 3 and the other
Amendment No. 3 Loan Documents to which it is a party;

          (C)  A certificate of the secretary or assistant secretary of the Borrower
certifying the names of the persons authorized to sign this Amendment No. 3 and
the other Amendment No. 3 Loan Documents to which it is a party, and all other
documents and certificates delivered hereunder together with the true
signatures of such persons;

          (D)  A certificate of the Chief Financial Officer of the Borrower
certifying that the statements set forth in Section 3.05(ii) of this Amendment
No. 3, as of the Amendment No. 3 Closing Date, are true and correct; and

          (E)  Except for events disclosed in the Borrower’s Annual Report on Form
10-K for the year ended December 31, 2000, and for Quarterly Reports on Form
10-Q for the quarters ended March 31, 2001 and June 30, 2001, no event has
occurred to the Borrower which would reasonably be likely to have a Material
Adverse Effect on the Borrower; and there shall be delivered to the Agent for
the benefit of each Bank and the Agent a certificate dated the Closing Date and
signed by the Chief Executive Officer, President, Chief Financial Officer or
Vice President of the Borrower to such effect;

 

     (ii)  The following statements shall be true and correct on the Amendment
Effective Date and the Agent shall have received a certificate signed by an
authorized officer of the Borrower, dated the Amendment Effective Date, stating
that:

          (A)  the representations and warranties contained in Section 2.01 of this
Amendment No. 3 and in the other Loan Documents, as amended hereby, with
respect to the Borrower are true and correct on and as of the Amendment
Effective Date as though made on and as of such date;

          (B)  no Event of Default, or event which, with the passage of time or the
giving of notice or both, would become an Event of Default, has occurred and is
continuing, or would result from the execution of this Amendment No. 3;

          (C)  the Borrower has in all material respects performed all agreements,
covenants and conditions required to be performed on or prior to the date
hereof under the Agreement and the other Loan Documents;

     (iii)  For purposes of this Amendment No. 3, upon completion of the
conditions set forth above in this Section 3.05, the term “Amendment Effective
Date” shall mean, and the effective date of this Amendment No. 3 shall be
deemed to be, September 30, 2001, nunc pro tunc.

     Section 3.06. Amendment Effective Date. From and after the Amendment
Effective Date, all references in the Existing Credit Agreement and each of the
other Loan Documents to the Agreement shall be deemed to be references to the
Existing Credit Agreement as amended hereby.

     Section 3.07. Certain Taxes. The Borrower agrees to pay, and save the
Agent and the Banks harmless from, all liability for any stamp or other taxes
which may be payable with respect to the execution of this Amendment No. 3, the
other Amendment No. 3 Loan Documents or any other documents, instruments or
transactions pursuant to or in connection herewith or therewith, which
obligation shall survive the termination of this Amendment No. 3.

     Section 3.08. Costs and Expenses. The Borrower hereby agrees to pay all
reasonable out-of-pocket costs and expenses of the Agent (including, without
limitation, the reasonable fees and the disbursements of the Agent’s special
counsel, Tucker Arensberg, P.C.) in connection with the preparation, execution
and delivery of this Amendment No. 3 and the related documents.

     Section 3.09.
Severability. Any provision of this Amendment No. 3 which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or
enforceability without invalidating the remaining portions hereof or affecting
the validity or enforceability of such provision in any other jurisdiction.

     Section 3.10. Governing Law. Amendment No. 3 shall be a contract made
under and governed by the laws of the Commonwealth of Pennsylvania.

     Section 3.11. Headings. The headings of this Amendment No. 3 are for
purposes of reference only and shall not limit or otherwise affect the meaning
thereof.

[REMAINDER OF PAGE LEFT INTENTIONALLY BLANK]

 

     IN WITNESS WHEREOF, the parties hereto, with the intent to be legally
bound hereby, have caused this Amendment No. 3 to be duly executed by their
proper and duly authorized officers as of, and effective nunc pro
tunc as of
the day and year first above written.

	 	 	 
		 	
Borrower:
	 
	 	 	 
	 
	ATTEST	 	
(SEAL)COOPER TIRE & RUBBER COMPANY,

a Delaware corporation
	 

	 	 	 
	By: /s/ Richard N. Jacobson

Name: Richard N. Jordan

Title: Assistant Secretary	 	
By: /s/ P.G. Weaver

Name: P.G. Weaver

Title: Vice President and CFO
	 
	 	 	 
	 
	By: /s/ Janice K. Grubb

Name: Janice K. Grubb

Title: Legal Coordinator	 	
By: /s/ C.F. Nagy

Name: C.F.Nagy

Title: Assistant Treasurer

	 	 	 
		 	Agent:
	 
	 	 	 
	 
	 	 	
PNC BANK, NATIONAL ASSOCIATION,

in its capacity as Agent
	 
	 	 	 
	 
	 	 	
By: /s/ Joseph G. Moran

Name: Joseph G. Moran

Title: Vice President
	 
	 	 	 
	 
	 	 	
Banks:
	 
	 	 	 
	 
	 	 	
PNC BANK, NATIONAL ASSOCIATION
	 
	 	 	 
	 
	 	 	
By: /s/ Joseph G. Moran

Name: Joseph G. Moran

Title: Vice President

[SIGNATURES FOR OTHER BANKS SET FORTH ON THE FOLLOWING PAGE]

 

 

[SIGNATURES FOR OTHER BANKS SET FORTH BELOW]

	 	 
		Banks Cont.:
	 
		 
	 
		NATIONAL CITY BANK
	 
	 
		By: /s/ James C. Ritchie

Name: James C. Ritchie

Title: Assistant Vice President
	 
	 
		BANK OF AMERICA, N.A
	 
	 
		By: /s/ Matthew J. Reilly

Name: Matthew J. Reilly

Title: Vice President
	 
	 
		THE CHASE MANHATTAN BANK
	 
	 
		By: /s/ Henry W. Centa

Name: Henry W. Centa

Title: Vice President
	 
	 
		BANK ONE, MICHIGAN
	 
	 
		By: /s/ Jean Phelan

Name: Jean Phelan

Title: Vice President
	 
	 
		THE BANK OF NEW YORK
	 
	 
		By: /s/ Edward J. Dougherty III

Name: Edward J. Dougherty III

Title: Vice President

[SIGNATURES FOR OTHER BANKS SET FORTH ON THE FOLLOWING PAGE]

 

 

[SIGNATURES FOR OTHER BANKS SET FORTH BELOW]

	 	 
		Banks Cont.:
	 
		 
	 
		FIFTH THIRD BANK, NORTHWESTERN, OHIO, N.A
	 
		 
	 
		By: /s/ Jeffery C. Shrader

Name: Jeffery C. Shrader

Title: Vice President
	 
		 
	 
		SUNTRUST BANK
	 
		 
	 
		By: /s/ William C. Humphries

Name: William C. Humphries

Title: Vice PresidentExhibit 10(III)--Amend #4 to the Credit Agreement

 

EXHIBIT 10(iii)

AMENDMENT NO. 4 TO

AMENDED AND RESTATED CREDIT AGREEMENT

         THIS AMENDMENT NO. 4 TO AMENDED AND RESTATED CREDIT AGREEMENT dated as of
November 1, 2001, but effective nunc pro tunc as of September 30, 2001 (this
“Amendment No. 4”), by and among COOPER TIRE & RUBBER COMPANY, a Delaware
corporation (as more fully defined in the Existing Credit Agreement referred to
below, the “Borrower”), and the Banks (as defined in the Existing Credit
Agreement) and PNC BANK, NATIONAL ASSOCIATION, in its capacity as the issuer of
letters of credit under the Existing Credit Agreement and as agent for the
Banks under the Existing Credit Agreement (in such capacity, as more fully
defined in the Existing Credit Agreement, as the “Agent”), amends that certain
Amended and Restated Credit Agreement dated as of September 1, 2000, by and
among the Borrower, the Banks and the Agent (such Credit Agreement is herein
referred to as the “Original Credit Agreement”), as amended by that certain
Amendment No. 1 to Amended and Restated Credit Agreement dated as of March 27,
2001 (the “Amendment No. 1”), that certain Amendment No. 2 to Amended and
Restated Credit Agreement dated as of August 30, 2001 (the “Amendment No. 2”)
and that Amendment No. 3 to Amended and Restated Credit Agreement dated as of
and effective nunc pro tunc as of September 30, 2001, (the “Amendment No. 3”;
and the Original Credit Agreement, as amended by the Amendment No. 1, the
Amendment No. 2 and Amendment No. 3, is herein referred to as the “Existing
Credit Agreement”).

WITNESSETH:

         WHEREAS, the Borrower has requested an amendment of certain covenants
contained in the Existing Credit Agreement; and the Banks and the Agent have
agreed to certain amendments to the Existing Credit Agreement upon the terms
and conditions set forth herein.

         NOW THEREFORE, in consideration of the premises (each of which is
incorporated herein by reference), the Borrower, the Banks and the Agent,
intending to be legally bound hereby, agree as follows:

ARTICLE I

AMENDMENTS TO EXISTING CREDIT AGREEMENT

         Section 1.01.
Amendment to Section 1.1 of the Existing Credit Agreement.
The following definition set forth in Section 1.1 of the Existing Credit
Agreement is amended and restated to read as follows:

         “Loan Documents” shall mean this Agreement, the Notes, the Requests for
Disbursement, the Amendment No. 1 Loan Documents, the Amendment No. 2 Loan
Documents, the Amendment No. 3 Loan Documents, the Amendment No. 4 Loan
Documents and any other instruments, certificates or documents delivered or
contemplated to be delivered hereunder or thereunder or in connection herewith
or therewith, as the same may be supplemented or amended from time to time in
accordance herewith or therewith; and “Loan Document” shall mean any of the
Loan Documents.

         Section 1.02.
Addition of Definitions to Section 1.1 of the Existing
Credit Agreement. The following definitions are hereby added to Section 1.1 of
the Existing Credit Agreement and shall be inserted in their correct
alphabetical order:

         “Amendment No. 4” shall mean that certain Amendment No. 4 to Credit
Agreement dated as of November 1, 2001, but effective nunc pro tunc as of
September 30, 2001, by and among the Borrower, the Agent and the Banks.

 

 

         “Amendment No. 4 Closing Date” shall mean November 13, 2001, but
effective as of September 30, 2001, nunc pro tunc.

         “Amendment No. 4 Loan Documents” shall mean this Amendment No. 4, and any
other documents delivered or contemplated to be delivered hereunder or
thereunder or in connection herewith or therewith, as the same may be
supplemented or amended from time to time in accordance herewith or therewith;
and the term “Amendment No. 4 Loan Document” shall mean any of the Amendment
No. 4 Loan Documents.

         “Class Action and Individual Litigation” means those certain class action
and individual lawsuits filed against the Borrower and listed below:

	 	 	 	 	 
	Case Name	 	Court Jurisdiction	 	Case Number
	

	Talalai, et al. v.
Cooper Tire & Rubber
Co.	 	
Superior Court, Law

Division, Middlesex

County, New Jersey
	 	MID-L-8839-00 MT
	

	Dunn, et al. v.
Cooper Tire & Rubber
Co.	 	
South Central Jud.
District, Burleigh
County, North Dakota
	 	08-00-C-02620
	

	D’Alessio, et al. v.
Cooper Tire & Rubber
Co.	 	
Superior Court,

Cumberland County,

Maine
	 	CV-00-701
	

	Krystyan, et al. v.
Cooper Tire & Rubber
Co.	 	
Circuit Court, Wayne

County, Michigan
	 	00-039-524-CP
	

	Nolan, et al. v.
Cooper Tire & Rubber
Co.	 	
Court of Common
Pleas, Philadelphia
County, Pennsylvania
	 	0012-1533
	

	Mason, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-176
	

	Morris, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-178
	

	Edwards, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-177
	

	Adams, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-179
	

	Mosley, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-180
	

	Berends, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-181
	

	Rusck v. Cooper Tire
& Rubber Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-182
	

	Namovicz v. Cooper
Tire & Rubber Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-183
	

 

 

	 	 	 	 	 
	Case Name	 	Court Jurisdiction	 	Case Number
	

	Rodger, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-184
	

	Villanueva, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-186
	

	Justice, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-185
	

	Skeens, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-00-1334
	

	Hobbs, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-187
	

	Montes, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-188
	

	Hebbard, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-189
	

	Deck, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-190
	

	Dorman, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-825
	

	Fogel v. Cooper Tire
& Rubber Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No. C2-
01-829
	

	Carr, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No. C2-
01-568
	

	Potthoff, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-826
	

	Johnson, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-827
	

	Comfort, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-828
	

	Crowther, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-830
	

	Brown, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Southern District of
Ohio
	 	MDL No. 1393, No.
C2-01-1081
	

	McKinney, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court
of Colorado
	 	No. 01-M-1450
	

	Bergeron, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court
of New Hampshire
	 	01-254-JD
	

	Albertson, et al. v.
Cooper Tire & Rubber
Co.	 	
U.S. District Court,
Western District of
Washington at Tacoma
	 	C01-5400 FDB
	

 

 

         “Third Quarter 2001 Special Charge” shall mean the pre-tax charge of
Fifty-Five Million Dollars ($55,000,000) recorded by the Borrower for its
Fiscal Quarter ending September 30, 2001 for the settlement of claims arising
out of the Class Action and Individual Litigation.

         Section 1.03. Amendment to Section 5.2 of the Original Credit Agreement.
Section 5.2 of the Original Credit Agreement is amended and restated to read as
follows:

5.2 Fixed Charge Coverage Ratio. The Borrower shall not incur or remain liable
for Consolidated Indebtedness owing to any Person if (a) the incurrence of such
Consolidated Indebtedness (after giving effect thereto) would cause the
Borrower to be in violation of any provision of this Agreement or (b) the
Borrower’s Consolidated Net Income Available for Fixed Charges for the period
of the four (4) Fiscal Quarters immediately preceding the Date of Determination
is equal to or less than (i) two hundred percent (200%) of all Fixed Charges
payable in respect of the four (4) Fiscal Quarter periods ending September 30,
2000 or December 31, 2000, (ii) one hundred eighty percent (180%) of all Fixed
Charges payable in respect of the four (4) Fiscal Quarter period ending March
31, 2001, (iii) one hundred sixty percent (160%) for all Fixed Charges payable
in respect of the four (4) Fiscal Quarter periods ending June 30, 2001, (iv)
one hundred fifty percent (150%) for all Fixed Charges payable in respect of
the four (4) Fiscal Quarters ending September 30, 2001, and (v) two hundred
percent (200%) for all Fixed Charges payable in respect of each of the four (4)
Fiscal Quarter periods ending on or after December 31, 2001; provided, however,
that the calculation of the fixed charge coverage ratio as required by this
Section 5.2 for any of the four quarter fiscal periods ending September 30,
2001, December 31, 2001, March 31, 2002 and June 30, 2002 is hereby modified
such that the numerator of the fixed charge coverage ratio for such a four
quarter fiscal period shall read as follows: “the Borrower’s Consolidated Net
Income Available for Fixed Charges plus the Third Quarter 2001 Special Charge”.

         Section 1.04. No Other Amendments. The amendments to the Existing Credit
Agreement set forth in Sections 1.01, 1.02 and 1.03 of this Amendment No. 4 do
not either implicitly or explicitly alter, waive or amend, except as expressly
provided in this Amendment No. 4, the provisions of the Existing Credit
Agreement. The amendments set forth in Sections 1.01, 1.02 and 1.03 of this
Amendment No. 4 do not waive, now or in the future, compliance with any other
covenant, term or condition to be performed or complied with nor does it impair
any rights or remedies of the Banks or the Agent under the Existing Credit
Agreement with respect to any such violation.

ARTICLE II

BORROWER’S SUPPLEMENTAL REPRESENTATIONS

         As an inducement to the Banks and the Agent to enter into this Amendment
No. 4, the Borrower hereby represents and warrants that:

         Section 2.01. Incorporation by Reference. The Borrower hereby repeats
herein for the benefit of the Banks and the Agent the representations and
warranties made by the Borrower in Article III of the Existing Credit
Agreement, as amended hereby, except that for purposes hereof such
representations and warranties shall be deemed to extend to and cover this
Amendment No. 4.

 

 

ARTICLE III

MISCELLANEOUS

         Section 3.01. Ratification of Terms. This Amendment No. 4 shall be
construed in connection with and as part of the Existing Credit Agreement; and
the Existing Credit Agreement is hereby amended and modified to include this
Amendment No. 4. Except as expressly amended by this Amendment No. 4, the
Existing Credit Agreement and each and every representation, warranty,
covenant, term and condition contained therein is specifically ratified and
confirmed.

         Section 3.02. References. All notices, communications, agreements,
certificates, documents or other instruments executed and delivered after the
execution and delivery of this Amendment No. 4 may refer to the Existing Credit
Agreement without making specific reference to this Amendment No. 4, but
nevertheless all such references shall include this Amendment No. 4 unless the
context requires otherwise.

         Section 3.03. Counterparts. This Amendment No. 4 may be executed in any
number of counterparts, and by the different parties hereto on separate
counterparts, each of which when so executed and delivered shall be an
original, but all of which together shall constitute one and the same
instrument. Delivery of an executed counterpart of a signature page to this
Amendment No. 4 by telecopier shall be effective as of delivery of a manually
executed counterpart of this Amendment No. 4.

         Section 3.04. Capitalized Terms. Except for proper nouns and as otherwise
defined herein, capitalized terms used herein shall have the meanings ascribed
to them in the Existing Credit Agreement, as amended hereby.

         Section 3.05. Conditions Precedent. It shall be a condition precedent to
the effectiveness of this Amendment No. 4 and to the amendment of terms of the
Existing Credit Agreement as herein set forth that:

         (i)  The Agent shall have received on behalf of the Banks, on or before the
Amendment Effective Date (as hereinafter defined) the following items, each,
unless otherwise indicated, dated on or before the Amendment Effective Date and
in form and substance satisfactory to the Agent and its counsel:

                  (A) A duly executed counterpart original of this Amendment No. 4;

                  (B) A copy of the corporate action of the Borrower certified by the
Secretary or Assistant Secretary of the Borrower to authorize the execution and
delivery of, and performance under, this Amendment No. 4 and the other
Amendment No. 4 Loan Documents to which it is a party;

                  (C) A certificate of the secretary or assistant secretary of the Borrower
certifying the names of the persons authorized to sign this Amendment No. 4 and
the other Amendment No. 4 Loan Documents to which it is a party, and all other
documents and certificates delivered hereunder together with the true
signatures of such persons;

                  (D) A certificate of the Chief Financial Officer of the Borrower
certifying that the statements set forth in Section 3.05(ii) of this Amendment
No. 4, as of the Amendment No. 4 Closing Date, are true and correct; and

                  (E) Except for events disclosed in the Borrower’s Annual Report on Form
10-K for the year ended December 31, 2000, and for Quarterly Reports on Form
10-Q for the quarters ended March 31, 2001 and June 30, 2001, no event has
occurred to the Borrower which would reasonably be likely to

 

 

have a Material
Adverse Effect on the Borrower; and there shall be delivered to the Agent for
the benefit of each Bank and the Agent a certificate dated the Closing Date and
signed by the Chief Executive Officer, President, Chief Financial Officer or
Vice President of the Borrower to such effect;

         (ii)  The following statements shall be true and correct on the Amendment
Effective Date and the Agent shall have received a certificate signed by an
authorized officer of the Borrower, dated the Amendment Effective Date, stating
that:

                  (A) the representations and warranties contained in Section 2.01 of this
Amendment No. 4 and in the other Loan Documents, as amended hereby, with
respect to the Borrower are true and correct on and as of the Amendment
Effective Date as though made on and as of such date;

                  (B) no Event of Default, or event which, with the passage of time or the
giving of notice or both, would become an Event of Default, has occurred and is
continuing, or would result from the execution of this Amendment No. 4;

                  (C) the Borrower has in all material respects performed all agreements,
covenants and conditions required to be performed on or prior to the date
hereof under the Agreement and the other Loan Documents;

         (iii)  For purposes of this Amendment No. 4, upon completion of the
conditions set forth above in this Section 3.05, the term “Amendment Effective
Date” shall mean, and the effective date of this Amendment No. 4 shall be
deemed to be, September 30, 2001, nunc pro tunc.

         Section 3.06. Amendment Effective Date. From and after the Amendment
Effective Date, all references in the Existing Credit Agreement and each of the
other Loan Documents to the Agreement shall be deemed to be references to the
Existing Credit Agreement as amended hereby.

         Section 3.07. Certain Taxes. The Borrower agrees to pay, and save the
Agent and the Banks harmless from, all liability for any stamp or other taxes
which may be payable with respect to the execution of this Amendment No. 4, the
other Amendment No. 4 Loan Documents or any other documents, instruments or
transactions pursuant to or in connection herewith or therewith, which
obligation shall survive the termination of this Amendment No. 4.

         Section 3.08. Costs and Expenses. The Borrower hereby agrees to pay all
reasonable out-of-pocket costs and expenses of the Agent (including, without
limitation, the reasonable fees and the disbursements of the Agent’s special
counsel, Tucker Arensberg, P.C.) in connection with the preparation, execution
and delivery of this Amendment No. 4 and the related documents.

         Section 3.09. Severability. Any provision of this Amendment No. 4 which
is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or
enforceability without invalidating the remaining portions hereof or affecting
the validity or enforceability of such provision in any other jurisdiction.

         Section 3.10. Governing Law. Amendment No. 4 shall be a contract made
under and governed by the laws of the Commonwealth of Pennsylvania.

 

 

         Section 3.11. Headings. The headings of this Amendment No. 4 are for
purposes of reference only and shall not limit or otherwise affect the meaning
thereof.

[REMAINDER OF PAGE LEFT INTENTIONALLY BLANK]

 

 

         IN WITNESS WHEREOF, the parties hereto, with the intent to be legally
bound hereby, have caused this Amendment No. 4 to be duly executed by their
proper and duly authorized officers as of, and effective nunc pro tunc as of
the day and year first above written.

	 	 	 	 	 	 	 
	 	 	 	 	Borrower:
	
	
	
	

	 	 	 	 	 	 	 
	
	
	
	

	ATTEST	 	 	 	(SEAL) COOPER TIRE & RUBBER COMPANY, a
Delaware corporation
	
	
	
	

	 	 	 	 	 	 	 
	
	
	
	

	By:	 	
/s/ Richard N. Jacobson
	 	By:
	 	/s/ P.G. Weaver
	 	 	

	 	 	 	

	Name:

Title:	 	
Richard N. Jacobson

Assistant Secretary
	 	Name:

Title:
	 	P.G. Weaver

Vice President and CFO
	
	
	
	

	 	 	 	 	 	 	 
	
	
	
	

	By:	 	
/s/ Kathy A. Brumbaugh
	 	By:
	 	/s/ Stephen O. Schroeder
	 	 	

	 	 	 	

	Name:

Title:	 	
Kathy A. Brumbaugh

Executive Legal Secretary
	 	Name:

Title:
	 	Stephen O. Schroeder

Treasurer

           
                Agent:

           
                PNC BANK, NATIONAL ASSOCIATION,

                
           in its capacity as Agent

	 	 	 	 	 	 	 
	By:	 	
/s/ James V. Cannella
	 	By:
	 	/s/ Joseph G. Moran
	 	 	

	 	 	 	

	Name:

Title:	 	
James V. Cannella

Vice President
	 	Name:

Title:
	 	Joseph G. Moran

Vice President

                  Banks:

	 	 	 
	 	 	
PNC BANK, NATIONAL ASSOCIATION
	
	
	
	

	 	 	 
	
	
	
	

	By:	 	
/s/ Joseph G. Moran
	 	 	

	Name:

Title:	 	
Joseph G. Moran

Vice President

[SIGNATURES FOR OTHER BANKS SET FORTH ON THE FOLLOWING PAGE]

 

 

[SIGNATURES FOR OTHER BANKS SET FORTH BELOW]

	 	 	 	 	 
	 	 	Banks Cont.:
	
	
	
	

	 	 	 	 	 
	
	
	
	

	 	 	NATIONAL CITY BANK
	
	
	
	

	 	 	 	 	 
	
	
	
	

	 	 	
By:
	 	/s/ James C. Ritchie
	 	 	 	 	

	 	 	
Name:

Title:
	 	James C. Ritchie

Assistant Vice President
	
	
	
	

	 	 	 	 	 
	
	
	
	

	 	 	BANK OF AMERICA, N.A.
	
	
	
	

	 	 	 	 	 
	
	
	
	

	 	 	
By:
	 	/s/ Matthew J. Reilly
	 	 	 	 	

	 	 	
Name:

Title:
	 	Matthew J. Reilly

Vice President
	
	
	
	

	 	 	 	 	 
	
	
	
	

	 	 	THE CHASE MANHATTAN BANK
	
	
	
	

	 	 	 	 	 
	
	
	
	

	 	 	
By:
	 	/s/ Henry W. Centa
	 	 	 	 	

	 	 	
Name:

Title:
	 	Henry W. Centa

Vice President
	
	
	
	

	 	 	 	 	 
	
	
	
	

	 	 	BANK ONE, MICHIGAN
	
	
	
	

	 	 	 	 	 
	
	
	
	

	 	 	
By:
	 	/s/ William J. Maxbauer
	 	 	 	 	

	 	 	
Name:

Title:
	 	William J. Maxbauer

First Vice President
	
	
	
	

	 	 	 	 	 
	
	
	
	

	 	 	THE BANK OF NEW YORK
	
	
	
	

	 	 	 	 	 
	
	
	
	

	 	 	
By:
	 	/s/ Edward J. Dougherty III
	 	 	 	 	

	 	 	
Name:

Title:
	 	Edward J. Dougherty

Vice President

[SIGNATURES FOR OTHER BANKS SET FORTH ON THE FOLLOWING PAGE]

 

 

[SIGNATURES FOR OTHER BANKS SET FORTH BELOW]

	 	 	 	 	 
	 	 	Banks Cont.:
	
	
	
	

	 	 	 	 	 
	
	
	
	

	 	 	FIFTH THIRD BANK, NORTHWESTERN, OHIO, N.A.
	
	
	
	

	 	 	 	 	 
	
	
	
	

	 	 	
By:
	 	/s/ Jeffery C. Shrader
	 	 	 	 	

	 	 	
Name:

Title:
	 	Jeffery C. Shrader

Vice President
	
	
	
	

	 	 	 	 	 
	
	
	
	

	 	 	SUNTRUST BANK
	
	
	
	

	 	 	 	 	 
	
	
	
	

	 	 	
By:
	 	/s/ William C. Humphries
	 	 	 	 	

	 	 	
Name:

Title:
	 	William C. Humphries

Director

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