Document:

Exhibit 4.2
	 

	 
		FORM OF GUARANTEE OF CBS OPERATIONS
		INC.
	 

	 
		FOR VALUE RECEIVED, CBS OPERATIONS INC., a
		corporation duly organized and existing under the laws of the State of Delaware
		(herein called the “Guarantor”,
		which term includes any successor corporation under the Indenture referred to
		in the Security upon which this Guarantee is endorsed), hereby fully and
		unconditionally guarantees to the holder of the Security upon which this
		Guarantee is endorsed the due and punctual payment of the principal of and
		interest (including, in case of default, interest on principal and, to the
		extent permitted by applicable law, on overdue interest), if any, on this
		Security, when and as the same shall become due and payable, whether at Stated
		Maturity, upon redemption, upon declaration of acceleration or otherwise,
		according to the terms thereof and of the Indenture referred to therein. In
		case of the failure of CBS Corporation or any successor thereto (herein called
		the “Company”) punctually to pay any such principal or
		interest, the Guarantor hereby agrees to cause any such payment to be made
		punctually when and as the same shall become due and payable, whether at Stated
		Maturity, upon redemption, upon declaration of acceleration or otherwise, as if
		such payment were made by the Company.
	 

	 
		The Guarantor hereby agrees that its
		obligations hereunder shall be as if it were principal debtor and not merely
		surety, and shall be absolute and unconditional, irrespective of the identity
		of the Company, the validity, regularity or enforceability of this Security or
		said Indenture, the absence of any action to enforce the same, any waiver or
		consent by the Holder of this Security with respect to any provisions thereof,
		the recovery of any judgment against the Company or any action to enforce the
		same, or any other circumstance which might otherwise constitute a legal or
		equitable discharge or defense of a guarantor. The Guarantor hereby waives
		diligence, presentment, demand of payment, filing of claims with a court in the
		event of insolvency or bankruptcy of the Company, any right to require a
		proceeding first against the Company, protest, notice and all demands
		whatsoever and covenants that this Guarantee will not be discharged except by
		complete performance of the obligations contained in this Security and in this
		Guarantee.
	 

	 
		The Guarantor shall be subrogated to all
		rights of the Holder of this Security against the Company in respect of any
		amounts paid by the Guarantor pursuant to the provisions of this Guarantee or
		the Indenture referred to in this Security; provided, however, that the Guarantor shall not be entitled to enforce or
		to receive any payment arising out of, or based upon, such right of subrogation
		until the principal of and interest on all Securities of the series of which
		the Security upon which this Guarantee is endorsed constitutes a part shall
		have been indefeasibly paid in full.
	 

	 
		The Indenture provides that in the event
		that this Guarantee would constitute or result in a fraudulent transfer or
		conveyance for purposes of, or result in a violation of, any United States
		federal, or applicable United States state, fraudulent transfer or conveyance
		or similar law, then the liability of the Guarantor hereunder shall be reduced
		to the extent necessary to eliminate such fraudulent transfer or conveyance or
		violation under the applicable fraudulent transfer or conveyance or similar
		law.
	 

	 
		If the Trustee or the Holder of the Security
		upon which this Guarantee is endorsed is required by any court or otherwise to
		return to the Company or the Guarantor, or any custodian, receiver, liquidator,
		assignee, trustee, sequestrator or other similar official acting in relation to
		the Company or the Guarantor, any amount paid to the Trustee or such Holder in
		respect of the Security upon which this Guarantee is endorsed, this Guarantee,
		to the extent theretofore discharged, shall be reinstated in full force and
		effect. The Guarantor further agrees, to the fullest extent that it may
		lawfully do so, that, as between the Guarantor, on the one hand, and the
		Holders and the Trustee, on the other hand, the maturity of the 
	 

	 
		 
	 

	 
		 
	 

	 
		 
	 

	 
		 
	 

	 
	 

	 

	 
		obligations guaranteed hereby may be
		accelerated as provided in Article Five of the Indenture for the purposes of
		this Guarantee, notwithstanding any stay, injunction or other prohibition
		extant under any applicable bankruptcy law preventing such acceleration in
		respect of the obligations guaranteed hereby.
	 

	 
		This Guarantee shall be governed by, and
		construed in accordance with, the laws of the State of New York.
	 

	 
		Subject to the next following paragraph, the
		Guarantor hereby certifies and warrants that all acts, conditions and things
		required to be done and performed and to have happened precedent to the
		creation and issuance of this Guarantee and to constitute the same valid
		obligation of the Guarantor have been done and performed and have happened in
		due compliance with all applicable laws.
	 

	 
		This Guarantee shall not be valid or become
		obligatory for any purpose until the certificate of authentication on the
		Security upon which this Guarantee is endorsed has been signed by the Trustee
		under the Indenture referred to in this Security.
	 

	 
		 
	 

	 
		 
	 

	 
		2
	 

	 
		 
	 

	 
	 

	 

	 
		IN WITNESS WHEREOF, the Guarantor has caused
		this instrument to be duly executed.
	 

	 
		 
	 

	 
			
				
				  Dated: [______________]
				

			 	
				
				   
				

			 	
				
				  CBS Operations Inc., 

				  as Guarantor
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  By: 
				

			 	
				
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 

 

	 
		 
	 

	 
			
				
				  Attest:
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				  Authorized Signature
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 

 

	 
		 
	 

	 
		 
	 

	 
		3exv10w1

 

EXHIBIT 10.1

FIRST AMENDMENT TO THIRD AMENDED AND RESTATED LOAN AGREEMENT

     THIS FIRST AMENDMENT TO THIRD AMENDED AND RESTATED LOAN AGREEMENT (this
“Amendment”) dated as of March 20, 2007, by and between: MERCANTILE BANCORP, INC.,
a Delaware corporation (“Borrower”); and U.S. BANK NATIONAL ASSOCIATION, formerly
known as Firstar Bank, N.A., a national banking association, the successor by merger to
Mercantile Bank National Association (“Lender”); has reference to the following
facts and circumstances (the “Recitals”):

     A. Borrower and Lender executed the Third Amended and Restated Loan Agreement dated as of
November 10, 2006 (as amended, the “Agreement”; all capitalized terms herein not otherwise defined
shall have the same meanings as ascribed to them in the Agreement).

     B. Borrower and Guarantors desire to amend the terms of the Agreement in the manner set forth
herein and Lender is willing to agree to said amendment on the terms and conditions set forth
herein.

     NOW, THEREFORE, in consideration of the premises, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, Borrower and Lender hereby agree as
follows:

     1. Recitals. The Recitals are true and correct, and, with the defined terms set forth
herein, are incorporated by this reference.

     2. Amendment to Agreement. The Agreement is amended as follows:

(a) The following new definitions are added to Section 1.01 of the Agreement in the correct
alphabetical order:

     “Initial Money Market Rate shall mean the annual rate, determined solely by
Lender, on the first day of the term of the Term Loan or the most recent repricing date or
as mutually agreed upon by Borrower and Lender, as the rate at which Lender would be able
to borrow funds in the Money Markets for the amount of the Term Loan and with an interest
payment frequency and principal repayment schedule equal to the Term Loan, and for a term
as may be arranged and agreed upon by Borrower and Lender, adjusted for any reserve
requirement and any subsequent costs arising from a change in government regulation;
provided, that Borrower acknowledges that Lender is under no obligation to actually
purchase and/or match funds for the Initial Money Market Rate of the Term Loan.”

     “Money Market Rate At Prepayment shall mean that zero-coupon rate, calculated
on each Prepayment Date, and determined solely by Lender, as the rate at which Lender would
be able to borrow funds in Money Markets for the prepayment amount matching the maturity of
a specific prospective Term Loan payment or repricing date, adjusted for any reserve
requirement and any subsequent costs arising from a change in government regulation;
provided, that a separate Money Market Rate at Prepayment will be calculated for each
prospective interest and/or principal payment date.”

     “Net Present Value shall mean the amount which is derived by summing the
present values of each prospective payment of principal and interest which, without such full or
partial prepayment, could otherwise have been received by Lender over the shorter of the remaining
contractual life of the Term Loan or next repricing date if Lender had instead initially invested
the Term Loan proceeds at the Initial Money Market Rate; provided, that the individual discount
rate used to present value each prospective payment of interest and/or principal shall be the

 

 

Money Market Rate at Prepayment for the maturity matching that of each specific payment of
principal and/or interest.”

     “Prepayment Date shall have the meaning ascribed thereto in Section 2.04(g).”

     “Prepayment Fee shall have the meaning ascribed thereto in Section 2.04(g).”

(b) Section 2.04 of the Agreement is deleted and replaced with the following:

     “2.04 Interest Rates and Payments.

               (a) Interest on each Revolving Loan shall accrue at one of the following annual rates selected
by Borrower: (i) upon notice to Lender, One and 5/10 Percent (1.5%) below the prime rate
announced by Lender from time to time, as and when such rate changes (each, a “Prime Rate
Loan”); or (ii) upon a minimum of two (2) New York Banking Days prior notice, One and 3/10
Percent (1.3%) above the one (1), two (2), three (3), or six (6) month LIBOR rate quoted by
Lender from Telerate Page 3750, Reuters Screen LIBOR1 Page, or any successor thereto (which shall
be the LIBOR rate in effect two (2) New York Banking Days prior to commencement of the Revolving
Loan), adjusted for any reserve requirement and any subsequent costs arising from a change in
government regulation (each, a “LIBOR Loan”). Interest on each Prime Rate Loan shall be
paid in consecutive quarterly installments due and payable on each February 10, May 10, August 10,
and November 10, and on the last day of the Revolving Credit Period. Interest on each LIBOR Loan
shall be payable for each Loan Period on the last day thereof, unless the duration of such Loan
Period exceeds three (3) months, in which case such interest shall be payable on the last day of
each three (3) month period during such Loan Period and on the last day of such Loan Period.

               (b) In the event Borrower does not timely select another interest rate option at least two (2)
New York Banking Days before the end of the Loan Period for a LIBOR Loan, Lender may at any time
after the end of the Loan Period convert the LIBOR Loan to a Prime Rate Loan, but until such
conversion, the funds advanced under the LIBOR Loan shall continue to accrue interest at the same
rate as the interest rate in effect for such LIBOR Loan prior to the end of the Loan Period.

               (c) No LIBOR Loan may extend beyond the last day of the Revolving Credit Period. In any event,
if the Loan Period for a LIBOR Loan should happen to extend beyond the last day of the Revolving
Credit Period, such LIBOR Loan must be prepaid at the time the LIBOR Loan matures, subject to the
prepayment requirements of Section 2.04(f) below. Each LIBOR Loan shall be in a minimum principal
amount of $100,000. The aggregate number of LIBOR Loans in effect at any one time may not exceed
six (6).

               (d) Effective March 5, 2007 and thereafter, interest on the Term Loan shall accrue at a
fixed annual rate of Six and 9/100 Percent (6.09%). Interest on the Term Loan shall be paid in
consecutive quarterly installments due and payable on each February 10, May 10, August 10, and
November 10, and on the maturity date of the Term Note.

               (e) After maturity of any Loan, whether by reason of acceleration or otherwise, or upon the
occurrence of an Event of Default, interest shall accrue on such Loan and be payable on
demand on the entire outstanding principal balance thereof at an annual rate equal to Two
Percent (2%) over and above the then existing rate(s). All payments shall be applied first
to the payment of all accrued and unpaid interest, with the balance, if any, to be

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applied to the payment of principal. Lender’s internal records of applicable interest rates
shall be determinative in the absence of manifest error.

               (f) Borrower shall have the right to prepay any Revolving Loan in whole or in part at
any time, provided: (i) all billed/due and unpaid interest shall accompany such prepayment;
(ii) there is no Default or Event of Default at the time of prepayment; (iii) all
prepayments shall be credited and applied to the installments of principal in inverse order
of their stated maturity; and (iv) if a LIBOR Loan is prepaid prior to the end of a Loan
Period for such LIBOR Loan, whether voluntarily or because prepayment is required due to
such LIBOR Loan maturing or due to acceleration of such LIBOR Loan upon default or
otherwise, Borrower agrees to pay all of Lender’s costs, expenses and Interest Differential
(as determined by Lender) incurred as a result of such prepayment (any prepayment of a
LIBOR Loan shall be in an amount equal to the remaining entire principal balance of such
LIBOR Loan).

               (g) Borrower shall not have the right to prepay the Term Loan, provided that Lender
may consider requests for its consent with respect to prepayment of the Term Loan, without
incurring an obligation to do so, and Borrower acknowledges that in the event that such
consent is granted, Borrower shall be required to pay Lender, upon prepayment of all or
part of the principal amount of the Term Loan before final maturity, a prepayment indemnity
(the “Prepayment Fee”) equal to the greater of zero (0), or that amount, calculated
on any date of prepayment (“Prepayment Date”), which is derived by subtracting: (i)
the outstanding principal amount of the Term Loan or portion of the Term Loan to be prepaid
from (ii) the Net Present Value of the Term Loan or portion of the Term Loan to be prepaid
on such Prepayment Date; provided, however, that the Prepayment Fee shall not in any event
exceed the maximum prepayment fee permitted by applicable law. In calculating the amount of
the Prepayment Fee, Lender is hereby authorized by Borrower to make such assumptions
regarding the source of funding, redeployment of funds and other related matters, as Lender
may deem appropriate. If Borrower fails to pay the Prepayment Fee when due, the amount of
such Prepayment Fee shall thereafter bear interest until paid at the default rate specified
in Section 2.04(e) above (computed on the basis of a 360-day year, actual days elapsed).
Each prepayment of the principal amount of the Term Loan shall be: accompanied by a payment
of interest accrued to date thereon; applied to the principal installments in the inverse
order of their maturities ; and in an amount of at least $100,000 or, if less, the
remaining entire principal balance of the Term Loan.”

     3. Continuing Security. The Agreement, as hereby amended, and the Notes, are and shall
continue to be, guarantied and/or secured by the Borrower Pledge and the Subsidiary Pledge, and any
reference to the Agreement in the Borrower Pledge and the Subsidiary Pledge shall hereafter be
deemed to include the Agreement as hereby amended.

     4. Binding Obligations. The Agreement, Notes, and the other Transaction Documents,
are, and shall remain, the binding obligations of Borrower and/or Royal Palm, and all of the
provisions, terms, stipulations, conditions, covenants and powers contained therein shall stand and
remain in full force and effect, except only as the same are herein and hereby expressly and
specifically varied or amended, and the same are hereby ratified and confirmed, and Lender reserves
unto itself all rights and privileges granted thereunder.

     5. Reaffirmation; Authority. Borrower hereby reaffirms all representations,
warranties, covenants and agreements recited in the Agreement, Notes, and the other Transaction
Documents, as of the date hereof, and the same are hereby adopted as representations, warranties,
covenants and agreements of Borrower herein. Borrower further represents and warrants that it is
not in default under

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any of its obligations under the Agreement, Notes, and the other Transaction Documents, and that
Borrower has the full power and authority to execute and deliver this Amendment, and that the
execution and delivery hereof has been duly authorized, and that all necessary and proper acts have
been performed or taken.

     6. Expenses. Borrower agrees to pay all expenses incurred by Lender in connection with
this Amendment, including, but not limited to, Lender’s legal fees. Said sums are payable on demand
and are secured by the Borrower Pledge and the Subsidiary Pledge.

     7. Release. Borrower hereby releases Lender and its successors, assigns, directors,
officers, agents, employees, representatives and attorneys from any and all claims, demands, causes
of action, liabilities or damages, whether now existing or hereafter arising or contingent or
noncontingent, or actions in law or equity of any type or matter, relating to or in connection with
any statements, agreements, action or inaction on the part of Lender occurring at any time prior to
the execution of this Amendment, with respect to Borrower, the Agreement, Notes, and all other
Transaction Documents.

     8. Applicable Law. This Amendment shall be governed by and construed in accordance
with the internal laws of the State of Missouri.

     9. Notice Required by Section 432.047 R.S. Mo. ORAL AGREEMENTS OR
COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT INCLUDING
PROMISES TO EXTEND OR RENEW SUCH DEBT ARE NOT ENFORCEABLE, REGARDLESS OF THE LEGAL THEORY UPON
WHICH IT IS BASED THAT IS IN ANY WAY RELATED TO THE CREDIT AGREEMENT. TO PROTECT YOU (BORROWER(S))
AND US (CREDITOR) FROM MISUNDERSTANDING OR DISAPPOINTMENT, ANY AGREEMENTS WE REACH COVERING SUCH
MATTERS ARE CONTAINED IN THIS WRITING, WHICH IS THE COMPLETE AND EXCLUSIVE STATEMENT OF THE
AGREEMENT BETWEEN US, EXCEPT AS WE MAY LATER AGREE IN WRITING TO MODIFY IT.

     10. Closing Conditions. Notwithstanding any provision contained in this Amendment to
the contrary, this Amendment shall not be effective unless and until Lender shall have received the
following, all in form and substance acceptable to Lender:

(a) this Amendment, duly executed by Borrower;

(b) the Borrowing Resolutions of Board of Directors, duly executed by the Secretary of
Borrower;

(c) copies of the amendments to Borrower’s By-Laws that were approved by Borrower’s Board
of Directors on February 27, 2007;

(d) Certificates of Good Standing for Borrower, issued by the Secretary of State of the
State of Delaware and by the Secretary of State of the State of Illinois (or other evidence
of good standing acceptable to Lender); and

(e) such other documents and information as Lender may reasonably require.

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

(SIGNATURES ON FOLLOWING PAGE)

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SIGNATURE PAGE-

FIRST AMENDMENT TO THIRD AMENDED AND RESTATED LOAN AGREEMENT

	 	 	 	 	 	 	 
	 	 	Borrower:	 	 
	 
	 	 	 	 	 	 
	 	 	MERCANTILE BANCORP, INC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Ted T. Awerkamp	 	 
	 

	 	 	 	 

Ted T. Awerkamp, President & CEO
	 	 
	 
	 	 	 	 	 	 
	 	 	Lender:	 	 
	 
	 	 	 	 	 	 
	 	 	U.S. BANK NATIONAL ASSOCIATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Gary D. Taylor	 	 
	 

	 	 	 	 

Gary D. Taylor, Vice President
	 	 

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