Document:

Revolving Credit Agreement Amendment

 

Exhibit 10.1

FIRST AMENDMENT TO 

REVOLVING CREDIT AGREEMENT

     THIS FIRST AMENDMENT TO REVOLVING CREDIT AGREEMENT (this “Amendment”), is made and entered
into as of May 24, 2005, by and among HUGHES SUPPLY, INC., a Florida corporation (the “Borrower”),
the several banks and other financial institutions from time to time party hereto (collectively,
the “Lenders”) and SUNTRUST BANK, in its capacity as Administrative Agent for the Lenders (the
“Administrative Agent”).

W I T N E S S E T H:

     WHEREAS, the Borrower, the Lenders and the Administrative Agent are parties to a certain
Revolving Credit Agreement, dated as of June 14, 2004 (as amended, restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”; capitalized terms used herein and not
otherwise defined shall have the meanings assigned to such terms in the Credit Agreement), pursuant
to which the Lenders have made certain financial accommodations available to the Borrower;

     WHEREAS, the Borrower has requested that the Lenders and the Administrative Agent amend
certain provisions of the Credit Agreement to reflect the restructuring of its Subsidiaries, and
subject to the terms and conditions hereof, the Lenders are willing to do so;

     NOW, THEREFORE, for good and valuable consideration, the sufficiency and receipt of all of
which are acknowledged, the Borrower, the Lenders and the Administrative Agent agree as follows:

     1. Amendments.

     (a) Section 1.1 of the Credit Agreement is hereby amended by replacing in their
entirety the definitions for “Captive Insurance Company”, “Indemnity and Contribution
Agreement”, “Material Subsidiary” and “Subsidiary Guaranty Agreement” with the following:

     “Captive Insurance Company” shall mean any Subsidiary of the Borrower that is
an authorized insurer under the laws of a foreign jurisdiction.

     “Indemnity and Contribution Agreement” shall mean the Indemnity,
Subrogation and Contribution Agreement, dated as June 14, 2004, as replaced
by the Indemnity, Subrogation and Contribution Agreement, dated as of
October 12, 2004, as further replaced by the Indemnity, Subrogation and
Contribution Agreement dated as of March 8, 2005 among the Borrower, the
Subsidiary Loan Parties and the Administrative Agent, and as replaced from
time to time with agreements in substantially the same form as the Indemnity and Contribution
Agreement in effect on the date hereof.

 

 

     “Material Subsidiary” shall mean at any time any direct or indirect
Subsidiary of the Borrower (i) having or acquiring total assets in excess of
$10,000,000 or (ii) that accounted for or produced more than 5% of the
Consolidated EBITR of the Borrower and its Subsidiaries determined on a
consolidated basis during any of the three most recently completed Fiscal
Years; provided, however, that the term “Material
Subsidiary” shall be deemed to exclude any Captive Insurance Company or
Securitization Subsidiary.

     “Subsidiary Guaranty Agreement” shall mean the Subsidiary Guaranty
Agreement, dated as of June 14, 2004, as replaced by the Subsidiary Guaranty
Agreement, dated as of October 12, 2004, as further replaced by the
Subsidiary Guaranty Agreement, dated as of March 8, 2005, made by the
Subsidiary Loan Parties in favor of the Administrative Agent for the benefit
of the Lenders and as replaced from time to time with agreements in
substantially the same form as the Subsidiary Guaranty Agreement in effect
on the date hereof.

     (b) Section 5.10(e) is hereby amended by deleting in its entirety the final
sentence of such subparagraph so that this subsection will read as follows:

     (e) A Subsidiary shall become an additional Subsidiary Loan Party after the
Closing Date by executing and delivering to the Administrative Agent a Subsidiary
Guaranty Supplement and an Indemnity and Contribution Agreement Supplement,
accompanied by (i) all other Loan Documents related thereto, (ii) certified copies
of certificates or articles of incorporation or organization, by-laws, membership
operating agreements, and other organizational documents, appropriate authorizing
resolutions of the board of directors of such Subsidiaries, and opinions of counsel
comparable to those delivered pursuant to Section 3.1(vii), and (iii) such
other documents as the Administrative Agent may reasonably request.

     (c) Section 7.3(a) is hereby amended by replacing subsection (v) in its
entirety with the following:

     (v) any Subsidiary may liquidate or dissolve if (A) such Subsidiary
shall have sold, transferred, leased, or otherwise disposed of all or
substantially all of its assets to the Borrower or to a Subsidiary Loan
Party as permitted under Section 7.3(a)(iv) above, (B) such
Subsidiary shall have sold, transferred, leased, or otherwise disposed of
all or substantially all of its assets in a transaction permitted in
Section 7.6(e) and shall have transferred to the Borrower or another
Subsidiary Loan Party any net proceeds from such sale, transfer, lease, or
other disposition, or (C) such Subsidiary is not a Material Subsidiary and
the Borrower determines in good faith that such liquidation or dissolution
is in the best interests of the Borrower and is not materially disadvantageous to the Lenders;
provided, that any such merger involving a Person that is not a
wholly-owned

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Subsidiary immediately prior to such merger shall not be permitted unless also permitted by Section 7.4.

     (d) Section 7.6 is hereby amended by adding the following as a new paragraph at
the end of that Section:

     In connection with any sale of the stock of a Subsidiary Loan Party
permitted by Section 7.6(e), the Administrative Agent shall execute
on behalf of all Lenders a release (in form and substance reasonably
satisfactory to the Administrative Agent) of the Subsidiary Loan Party whose
stock has been sold or is being sold in such a transaction from the
Subsidiary Guaranty Agreement, the Indemnity and Contribution Agreement, and
any other responsibilities in respect of the Obligations upon the
Administrative Agent’s receipt of (i) a written request from the Borrower
for such release and (ii) a certificate of a Responsible Officer certifying
(A) either that (1) such sale of the stock of the Subsidiary Loan Party
complied in all respects with the requirements of Section 7.6(e), or
(2) the Borrower or another Subsidiary Loan Party has a contract for the
sale of the stock of such Subsidiary Loan Party on terms that comply in all
respects with Section 7.6(e) and that the such release will be
effective only upon consummation of such sale, and (B) that the release of
the Subsidiary Loan Party as requested does not and will not result in a
Default or Event of Default. If the Responsible Officer’s certificate
accompanying such request for release indicates that the release is being
sought in connection with a prospective sale contemplated by clause
(ii)(A)(2) above, the Administrative Agent shall use commercially reasonable
efforts to execute and deliver the release in time for the closing of the
sale of the stock of such Subsidiary Loan Party but such release shall be
conditioned on the actual and timely closing of the sale of the stock of
such Subsidiary Loan Party as set forth in the Responsible Officer’s
certificate.

     (e) Section 9.8 is hereby amended by adding the following sentence to the
end of such section:

     Each Lender also authorizes the Administrative Agent to execute on
behalf of all Lenders a release of a Subsidiary Loan Party whose stock has
been or is being sold in a transaction under Section 7.6(e) of this
Agreement upon the Administrative Agent’s receipt of the Borrower request
and certificate of a Responsible Officer as contemplated under the last
sentence of Section 7.6(e).

     2. Conditions to Effectiveness of this Amendment. Notwithstanding any other provision
of this Amendment and without affecting in any manner the rights of the Lenders hereunder, it is
understood and agreed that this Amendment shall not become effective, and the Borrower shall have
no rights under this Amendment, until the Administrative Agent shall have received each of the
following documents:

3

 

     (a) executed counterparts to this Amendment from the Borrower, the Subsidiary Loan
Parties, the Agent and the Required Lenders, in accordance with Section 10.2(b);

     (b) a certificate of the Secretary or Assistant Secretary of each Loan Party attaching
and certifying copies of its bylaws or membership operating agreements, and other
organizational documents, together with appropriate authorizing resolutions of the board of
directors or managers of all Loan Parties and of the resolutions of its boards of directors
or comparable authorizations, authorizing the execution, delivery and performance of this
Amendment to which it is a party and certifying the name, title and true signature of each
officer of such Loan Party executing this Amendment;

     (c) certified copies of certificates or articles of incorporation or organization or
limited partnership, together with certificates of good standing or existence, as may be
available from the Secretary of State of the jurisdiction of organization of such Loan party
and each other jurisdiction where such Loan Party is required to be qualified to do business
as a foreign corporation and a failure to be so qualified would have a Material Adverse
Effect; and

     (d) opinion of in-house counsel, in form and substance substantially similar to the
opinion given pursuant to Section 5.10 of the Credit Agreement and otherwise
satisfactory to Agent’s attorneys.

     3. Representations and Warranties. To induce the Lenders and the Administrative Agent
to enter into this Amendment, the Borrower hereby represents and warrants to the Lenders and the
Agent that:

     (a) The execution, delivery and performance by each Loan Party of this Amendment: (i)
are within such Loan Party’s power and authority; (ii) have been duly authorized by all
necessary corporate, shareholder or other action; (iii) are not in contravention of any
provision of such Loan Party’s certificate of incorporation or bylaws or other
organizational documents; (iv) will not result in a Material Adverse Effect; (v) do not
violate any law or regulation, or any order or decree of any Governmental Authority; (vi) do
not conflict with or result in the breach or termination of, constitute a default under or
accelerate any performance required by, any indenture, mortgage, deed of trust, lease,
agreement or other instrument to which Loan Party or any of its Subsidiaries is a party or
by which Loan Party or any such Subsidiary or any of their respective property is bound;
(vii) do not result in the creation or imposition of any Lien upon any of the property of
Loan Party or any of its Subsidiaries; (viii) do not require the consent or approval of any
Governmental Authority or any other person; and (ix) will not result in any of the Loan
Parties being “insolvent” as such term is defined in § 101 of Title 11 of the United States
Code, as amended from time to time, or be unable to pay its debts generally as such debts
become due, or have an unreasonably small capital to engage in any business or transaction,
whether current or contemplated;

4

 

     (b) Borrower has recently completed a corporate streamlining that greatly reduced the
number of its Subsidiaries, either through dissolution of such Subsidiaries or merger into
other Subsidiaries, and Borrower also has renamed a number of the Subsidiaries that were not
merged or dissolved. In addition, Borrower has formed one new Subsidiary that has executed
and delivered a Subsidiary Guaranty Supplement and an Indemnity and Contribution Agreement
Supplement. As a consequence of those actions (i) the Subsidiaries listed on Annex
I to this Amendment constitute all of the Subsidiaries as of the date hereof (including,
without limitation, all Material Subsidiaries), and all of the Subsidiaries listed on
Annex I are Subsidiary Loan Parties that have executed and delivered the Subsidiary
Guaranty Agreement and the Indemnity and Contribution Agreement; and (ii) each of the former
or existing Subsidiaries listed on Annex II has been dissolved, merged with and into
another Subsidiary Loan Party, or has changed its name to that of a Subsidiary Loan Party
described in Annex I to this Amendment;

     (c) This Amendment has been duly executed and delivered for the benefit of or on behalf
of each Loan Party and constitutes a legal, valid and binding obligation of each Loan Party,
enforceable against such Loan Party in accordance with its terms, except as the
enforceability hereof may be limited by bankruptcy, insolvency, reorganization, moratorium
and other laws affecting creditors’ rights and remedies in general; and

     (d) After giving effect to this Amendment, the representations and warranties contained
in the Credit Agreement and the other Loan Documents will be true and correct in all
material respects, and no Default or Event of Default will have occurred and will be
continuing as of the date hereof.

     4. Reaffirmations. The Subsidiary Loan Parties consent to the execution and delivery
by the Borrower of this Amendment and jointly and severally ratify and confirm the terms of the
Subsidiary Guaranty Agreement and the Indemnity and Contribution Agreement with respect to the
indebtedness now or hereafter outstanding under the Credit Agreement, as amended hereby, and all
promissory notes issued thereunder. Each Subsidiary Loan Party acknowledges that, notwithstanding
anything to the contrary contained herein or in any other document evidencing any indebtedness of
the Borrower to the Lenders or any other obligation of the Borrower, or any actions now or
hereafter taken by the Lenders with respect to any obligation of the Borrower, each of the
Subsidiary Guaranty Agreement and the Indemnity and Contribution Agreement (i) is and shall
continue to be a primary obligation of the Subsidiary Loan Parties, (ii) is and shall continue to
be an absolute, unconditional, joint and several, continuing and irrevocable guaranty of payment,
and (iii) is and shall continue to be in full force and effect in accordance with its terms.
Nothing contained herein to the contrary shall release, discharge, modify, change or affect the
liability of the Subsidiary Loan Parties under the Subsidiary Guaranty Agreement or the Indemnity
and Contribution Agreement.

     5. Effect of Amendment. Except as set forth expressly herein, all terms of the Credit
Agreement, as amended hereby, and the other Loan Documents shall be and remain in full force and
effect and shall constitute the legal, valid, binding and enforceable obligations of each

5

 

Loan Party to the Lenders and the Administrative Agent. The execution, delivery and
effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver
of any right, power or remedy of the Lenders under the Credit Agreement, nor constitute a waiver of
any provision of the Credit Agreement. This Amendment shall constitute a Loan Document for all
purposes of the Credit Agreement.

     6. Governing Law. This Amendment shall be governed by, and construed in accordance
with, the internal laws of the State of Georgia and all applicable federal laws of the United
States of America.

     7. No Novation. This Amendment is not intended by the parties to be, and shall not be
construed to be, a novation of the Credit Agreement or any of the other Loan Documents, or an
accord and satisfaction in regard thereto.

     8. Costs and Expenses. The Borrower agrees to pay on demand all costs and expenses of
the Administrative Agent in connection with the preparation, execution and delivery of this
Amendment, including, without limitation, the reasonable fees and out-of-pocket expenses of outside
counsel for the Administrative Agent with respect thereto.

     9. Counterparts. This Amendment may be executed by one or more of the parties hereto
in any number of separate counterparts, each of which shall be deemed an original and all of which,
taken together, shall be deemed to constitute one and the same instrument. Delivery of an executed
counterpart of this Amendment by facsimile transmission or by electronic mail in pdf form shall be
as effective as delivery of a manually executed counterpart hereof.

     10. Binding Nature. This Amendment shall be binding upon and inure to the benefit of
the parties hereto, their respective successors, successors-in-titles, and assigns.

     11. Entire Understanding. This Amendment sets forth the entire understanding of the
parties with respect to the matters set forth herein, and shall supersede any prior negotiations or
agreements, whether written or oral, with respect thereto.

[Signature Pages To Follow]

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     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed, under
seal in the case of the Borrower by their respective authorized officers as of the day and year
first above written.

	 	 	 
	

	 	BORROWER
	 
	 	 
	

	 	HUGHES SUPPLY, INC.
	 
	 	 
	

	 	By: /s/ Jay Clark
L.S.         
	

	 	Name: Jay Clark
	

	 	Title: Treasurer

[SIGNATURE PAGE TO FIRST AMENDMENT]

 

 

SUBSIDIARY LOAN PARTIES:

COMPASS UTILITY SUPPLY, LTD., an Oregon corporation

HUGHES BUILDING MATERIALS GROUP, INC., a Florida corporation

HUGHES CANADA, INC., a Delaware corporation

HUGHES GP & MANAGEMENT, INC., a Delaware corporation

HUGHES INSURANCE HOLDINGS, INC., a Delaware corporation

HUGHES MRO GROUP, INC., a Delaware corporation

HUGHES PLUMBING GROUP, INC., a California corporation

HUGHES SUPPLY MANAGEMENT SERVICES, INC., a Delaware corporation

HUGHES SUPPLY SHARED SERVICES, INC., a Delaware corporation

HUGHES SUPPLY MANAGEMENT, INC., a Florida corporation

HUGHES UTILITIES GROUP, INC., a Delaware corporation

MEREX CORPORATION, a Texas corporation

MONTANA ELECTRIC SUPPLY, INC., a Montana corporation

MONTANA ELECTRIC SUPPLY, INC., a Wyoming corporation

SOUTHWEST POWER, INC., a California corporation

UTILITY PRODUCTS SUPPLY COMPANY, LLC, a Colorado limited liability company.

WESTERN STATES ELECTRIC, INC., an Oregon corporation

WORLD-WIDE TRAVEL NETWORK, INC., a Florida corporation

WYOLINE ELECTRIC SUPPLY, INC., a Wyoming corporation

	 	 	 	 	 	 	 
	By:
	 	/s/ John Z. Paré	 	 	 	 
	 	 	 	 	 
	 	 	Name: John Z. Paré	 	 
	 	 	Title: Secretary	 	 
	

	 	Address:
	 	One Hughes Way	 	 
	

	 	 	 	Orlando, FL 32805	 	 

SIGNATURE PAGE TO FIRST AMENDMENT

 

 

HSI FUNDING, LLC, a Delaware limited liability company

HSI HOLDINGS, INC., a Delaware/Cayman Islands corporation

HSI IP, INC., a Delaware corporation

SWS ACQUISITION, LLC, a Delaware limited liability company

SWS FUNDING, LLC, a Delaware limited liability company

	 	 	 	 	 	 	 
	By:
	 	/s/ John Z. Paré 	 	 	 	 
	 	 	 	 	 
	 	 	Name: John Z. Paré	 	 
	 	 	Title: Assistant Secretary	 	 
	

	 	Address:
	 	One Hughes Way	 	 
	

	 	 	 	Orlando, FL 32805	 	 

HUGHES BUILDING MATERIALS HOLDINGS, LLC, a Florida limited liability company

HUGHES ELECTRIC HOLDINGS, LLC, a Florida limited liability company

HUGHES HOLDINGS, LLC, a Florida limited liability company

HUGHES MRO HOLDINGS, LLC, a Delaware limited liability company

HUGHES PLUMBING HOLDINGS, LLC, a Florida limited liability company

HUGHES UTILITIES HOLDINGS, LLC, a Florida limited liability company

HUGHES WATER & SEWER HOLDINGS, LLC, a Florida limited liability company

	 	 	 	 	 	 	 
	By:	 	HUGHES GP & MANAGEMENT, INC., a Delaware corporation, its
manager
	 
	 	 	 	 	 	 
	By:
	 	/s/ John Z. Paré  	 	 	 	 
	 	 	 	 	 
	 	 	Name: John Z. Paré	 	 
	 	 	Title: Secretary	 	 
	

	 	Address:
	 	One Hughes Way	 	 
	

	 	 	 	Orlando, FL 32805	 	 

SIGNATURE PAGE TO FIRST AMENDMENT

 

 

HUGHES BUILDING MATERIALS, LTD., a Florida limited partnership

HUGHES ELECTRIC SUPPLY, LTD., a Florida limited partnership

HUGHES MRO, LTD., a Florida limited partnership

HUGHES PLUMBING SUPPLY, LTD., a Florida limited partnership

HUGHES UTILITIES, LTD., a Florida limited partnership

HUGHES WATER & SEWER, LTD., a Florida limited partnership

SOUTHWEST STAINLESS, LP, a Delaware limited partnership

	 	 	 	 	 	 	 
	By:	 	HUGHES GP & MANAGEMENT, INC., a Delaware corporation, its
	 	 	general partner	 	 
	 
	 	 	 	 	 	 
	By:
	 	/s/ John Z. Paré	 	 	 	 
	 	 	 	 	 
	 	 	Name: John Z. Paré	 	 
	 	 	Title: Secretary	 	 
	

	 	Address:
	 	One Hughes Way	 	 
	

	 	 	 	Orlando, FL 32805	 	 

PRO VALUE, LLC, a Delaware limited liability company

	 	 	 	 	 	 	 
	By:	 	HUGHES SUPPLY SHARED
SERVICES, INC., a Florida corporation, 
its
manager
	 
	 	 	 	 	 	 
	By:
	 	/s/ John Z. Paré	 	 	 	 
	 	 	 	 	 
	 	 	Name: John Z. Paré	 	 
	 	 	Title: Secretary	 	 
	

	 	Address:
	 	One Hughes Way	 	 
	

	 	 	 	Orlando, FL 32805	 	 

MEREX DE MEXICO, S.A. DE C.V., a Mexican corporation

MEREX DIESEL POWER, S.A. DE C.V., a Mexican corporation

	 	 	 	 	 	 	 
	By:
	 	/s/ Hernan Gustavo Jofre Rodriguez	 	 	 	 
	 	 	 	 	 
	 	 	Name: Hernan Gustavo Jofre Rodriguez	 	 
	 	 	Title: Sole Administrator	 	 
	

	 	Address:
	 	One Hughes Way	 	 
	

	 	 	 	Orlando, FL 32805	 	 

SIGNATURE PAGE TO FIRST AMENDMENT

 

 

SIGNATURE PAGE TO FIRST AMENDMENT

 

 

	 	 	 	 	 	 	 
	 	 	LENDERS	 	 
	 
	 	 	 	 	 	 
	 	 	SUNTRUST BANK, as Administrative Agent, as
Issuing Bank, as Swingline Lender and as a Lender	 	 
	 
	 	 	 	 	 	 
	

	 	By:	 	/s/ William C. Barr, III	 	 
	

	 	 	 	 	 
	 	 	Name: William C. Barr, III	 	 
	 	 	Title: Managing Director	 	 

SIGNATURE PAGE TO FIRST AMENDMENT

 

 

	 	 	 	 	 	 	 
	 	 	WACHOVIA BANK, N.A.,	 	 
	 	 	as Co-Syndication Agent and as a Lender, both
individually and as a successor in interest by merger
to SouthTrust Bank	 	 
	 
	 	 	 	 	 	 
	

	 	By	 	/s/ Fareed F. Ajani	 	 
	

	 	 	 	 	 
	 	 	Name: Fareed F. Ajani	 	 
	 	 	Title: Vice
President	 	 

SIGNATURE PAGE TO FIRST AMENDMENT

 

 

	 	 	 	 	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender	 	 
	 
	 	 	 	 	 	 
	

	 	By	 	/s/ Alex Idichandy	 	 
	

	 	 	 	 	 
	 	 	Name: Alex Idichandy	 	 
	 	 	Title: Vice
President	 	 
	 
	 	 	 	 	 	 
	

	 	By	 	/s/ Sharon L. Prince	 	 
	

	 	 	 	 	 
	 	 	Name: Sharon L. Prince	 	 
	 	 	Title: Vice
President	 	 

SIGNATURE PAGE TO FIRST AMENDMENT

 

 

	 	 	 	 	 	 	 
	 	 	LEHMAN COMMERCIAL PAPER, INC., as Co-Documentation Agent and as a Lender	 	 
	 
	 	 	 	 	 	 
	

	 	By	 	/s/ Janine M. Shugan	 	 
	

	 	 	 	 	 
	 	 	Name: Janine M. Shugan	 	 
	 	 	Title: Authorized
Signatory	 	 

SIGNATURE PAGE TO FIRST AMENDMENT

 

 

	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A.

as Co-Documentation Agent and as a Lender	 	 
	 
	 	 	 	 	 	 
	

	 	By 	 	/s/ W. Thomas Barnett	 	 
	

	 	 	 	 	 
	

	 	Name: W. Thomas Barnett	 	 
	

	 	Title: Senior Vice
President	 	 

SIGNATURE PAGE TO FIRST AMENDMENT

 

 

	 	 	 	 	 	 	 
	 	 	CITICORP USA, INC., as Managing Agent and
as a Lender	 
	 
	 	 	 	 	 	 
	

	 	By	 	/s/ David T. McNeel	 	 
	

	 	 	 	 	 
	 	 	Name: David T. McNeel	 	 
	 	 	Title: Director	 	 

SIGNATURE PAGE TO FIRST AMENDMENT

 

 

	 	 	 	 	 	 	 
	 	 	PNC BANK, NATIONAL ASSOCIATION,

as a Lender	 	 
	 
	 	 	 	 	 	 
	

	 	By	 	/s/ James A. Fink	 	 
	

	 	 	 	 	 
	 	 	Name: James A. Fink	 	 
	 	 	Title: Managing
Director	 	 

SIGNATURE PAGE TO FIRST AMENDMENT

 

 

	 	 	 	 	 	 	 
	 	 	THE FIFTH THIRD BANK,

as a Lender	 	 
	 
	 	 	 	 	 	 
	

	 	By	 	/s/ Christopher C. Motley	 	 
	

	 	 	 	 	 
	 	 	Name: Christopher C. Motley	 	 
	 	 	Title: Vice
President	 	 

SIGNATURE PAGE TO FIRST AMENDMENT

 

 

	 	 	 	 	 	 	 
	 	 	COMMERCEBANK, NATIONAL ASSOCIATION, as a Lender	 	 
	 
	 	 	 	 	 	 
	

	 	By	 	 	 	 
	

	 	 	 	 	 
	 	 	Name:	 	 
	 	 	Title:	 	 

SIGNATURE PAGE TO FIRST AMENDMENT

 

 

	 	 	 	 	 	 	 
	 	 	US BANK, NATIONAL ASSOCIATION,

as a Lender	 	 
	 
	 	 	 	 	 	 
	

	 	By	 	/s/ Michael P. Dickman	 	 
	

	 	 	 	 	 
	 	 	Name: Michael P. Dickman	 	 
	 	 	Title: VP	 	 

SIGNATURE PAGE TO FIRST AMENDMENT

 

 

	 	 	 	 	 	 	 
	 	 	ISRAEL DISCOUNT BANK OF NEW YORK,

as a Lender	 	 
	 
	 	 	 	 	 	 
	

	 	By	 	/s/ Roberto R. Munoz	 	 
	

	 	 	 	 	 
	 	 	Name: Roberto R. Munoz	 	 
	 	 	Title: SVP &
Chief Lending Officer for Florida	 	 
	 
	 	 	 	 	 	 
	

	 	By	 	/s/ Dilian G. Schulz	 	 
	

	 	 	 	 	 
	 	 	Name: Dilian G. Schulz	 	 
	 	 	Title: FVP &
Chief Credit Officer for Florida	 	 

SIGNATURE PAGE TO FIRST AMENDMENT

 

 

	 	 	 	 	 	 	 
	 	 	BNP PARIBAS, as a Lender	 	 
	 
	 	 	 	 	 	 
	

	 	By	 	/s/ Craig Pierce	 	 
	

	 	 	 	 	 
	 	 	Name: Craig Pierce	 	 
	 	 	Title: Vice President	 	 
	 
	 	 	 	 	 	 
	

	 	By	 	/s/ Aurora Abella	 	 
	

	 	 	 	 	 
	 	 	Name: Aurora Abella	 	 
	 	 	Title: Vice President	 	 

SIGNATURE PAGE TO FIRST AMENDMENT

 

 

ANNEX I to FIRST AMENDMENT

SUBSIDIARIES AS OF DATE OF FIRST AMENDMENT

1.   Compass Utility Supply, Ltd., an Oregon corporation

2.   HSI Funding, LLC, a Delaware limited liability company

3.   HSI Holdings, Inc., a Delaware/Cayman Islands corporation

4.   HSI IP, Inc., a Delaware corporation

5.   Hughes Building Materials Group, Inc., a Georgia corporation

6.   Hughes Building Materials Holdings, LLC, a Florida limited liability company

7.   Hughes Building Materials, Ltd., a Florida limited partnership

8.   Hughes Canada, Inc., a Delaware corporation

9.   Hughes Electric Holdings, LLC, a Florida limited liability company

10. Hughes Electric Supply, Ltd., a Florida limited partnership

11. Hughes GP & Management, Inc a Delaware corporation

12. Hughes Holdings, LLC, a Florida limited liability company

13. Hughes Insurance Holdings, Inc., a Delaware corporation

14. Hughes MRO Group, Inc., a Delaware corporation

15. Hughes MRO Holdings, LLC, a Delaware limited liability company

16. Hughes MRO, Ltd., a Florida limited partnership

17. Hughes Plumbing Group, Inc., a California corporation

18. Hughes Plumbing Holdings, LLC, a Florida limited liability company

19. Hughes Plumbing Supply, Ltd., a Florida limited partnership

20. Hughes Supply Management, Inc., a Florida corporation

21. Hughes Supply Management Services, Inc., a Delaware corporation

22. Hughes Supply Shared Services, Inc., a Delaware corporation

23. Hughes Utilities Group, Inc., a Delaware corporation

24. Hughes Utilities Holdings, LLC, a Florida limited liability company

25. Hughes Utilities, Ltd., a Florida limited partnership

26. Hughes Water & Sewer Holdings, LLC, a Florida limited liability company

27. Hughes Water & Sewer, Ltd., a Florida limited partnership

28. Merex Corporation, a Texas corporation

29. Merex de Mexico, S.A. de C.V., a Mexican corporation

30. Merex Diesel Power, S.A. de C.V., a Mexican corporation

31. Montana Electric Supply, Inc., a Montana corporation

32. Montana Electric Supply, Inc., a Wyoming corporation

33. ProValue, LLC, a Delaware limited liability company

34. Southwest Power, Inc., a California corporation

35. Southwest Stainless, L.P., a Delaware limited partnership

36. SWS Acquisition, LLC, a Delaware limited liability company

37. SWS Funding, LLC, a Delaware limited liability company

38. Utility Products Supply Company, LLC, a Colorado limited liability company

39. Western States Electric, Inc., an Oregon corporation

40. World-Wide Travel Network, Inc., a Florida corporation

41. Wyoline Electric Supply, Inc., a Wyoming corporation

SIGNATURE PAGE TO FIRST AMENDMENT

 

 

ANNEX II to FIRST AMENDMENT

FORMER OR EXISTING SUBSIDIARIES DISSOLVED, MERGED OR RENAMED

PRIOR TO DATE OF FIRST AMENDMENT 

1.   Carolina Pump & Supply Corp., a Rhode Island corporation

2.   Century Air Supply, Inc., a Delaware corporation

3.   Century GP Management, L.L.C., a Delaware limited liability company

4.   Century LP Investments, L.L.C., a Delaware limited liability company

5.   Century Maintenance (Houston), L.P., a Delaware limited partnership

6.   Century Maintenance, L.P., a Delaware limited partnership

7.   Century Maintenance Management, LLC, ., a Delaware limited liability company

8.   Century Maintenance Supply –S Cal, Inc., a Delaware corporation

9.   Century Maintenance Supply, Inc., a Delaware corporation

10. Century Services, L.P., a Delaware limited partnership

11. Douglas Leonhardt & Associates, Inc., a North Carolina corporation

12. Electric Laboratories and Sales Corporation, a Delaware corporation

13. Gilleland Concrete Products, Inc., a Georgia corporation

14. HHH, LLC, a Delaware limited liability company

15. HSI Acquisition Corporation, an Ohio corporation

16. HSI Fusion Services, Inc., a Florida corporation

17. HSI Indiana, LLC, a Indiana limited liability company

18. HSI North Carolina, LLC, a North Carolina limited liability company

19. HSI Properties, LLC, a Delaware limited liability company

20. Hughes Aviation, Inc., a Florida corporation

21. Hughes Insurance Company, Ltd., a Bermuda company

22. Hughes MRO, Inc., a Florida corporation

23. Hughes MRO #1, LLC, a Delaware limited liability company

24. Hughes MRO #2, LLC, a Delaware limited liability company

25. Hughes MRO, LP, a Delaware limited partnership

26. Hughes Supply CA, LLC, a California limited liability company

27. Hughes Supply (VA), Inc., a Virginia corporation

28. Hughes Supply IP, Inc., a Delaware corporation

29. Hughes Water & Sewer Company, a West Virginia corporation

30. Juno Industries, Inc., a Florida corporation

31. Kamen Supply Company, Inc., a Kansas corporation

32. Kingston Pipe Industries, Inc., a Rhode Island corporation

33. L&T of Delaware, Inc., a Delaware corporation

34. Metals Incorporated, an Oklahoma corporation

35. Metals, Inc. – Gulf Coast Division, an Oklahoma corporation

36. Mills & Lupton Supply Company, a Tennessee corporation

37. Moore Electric Supply, Inc., a North Carolina corporation

38. Mountain Country Supply, Inc., an Arizona corporation

39. National Powerx, Inc., a Pennsylvania corporation

40. Olander & Brophy, Incorporated, a Pennsylvania corporation

41. One Stop Supply, Inc., a Tennessee corporation

SIGNATURE PAGE TO FIRST AMENDMENT

 

 

42. Paine Supply of Jackson, Inc., a Mississippi corporation

43. Panhandle Pipe and Supply Co., Inc., a West Virginia corporation

44. Reaction Supply Corporation, a California corporation

45. Scott-Parish Electrical Supply Company, a North Carolina corporation

46. Shrader Holding Company, Inc., an Arkansas corporation

47. Stainless Tubular Products, Inc., an Oklahoma corporation

48. Standard Wholesale Supply Company, a Nevada corporation

49. Todd Pipe & Supply – El Monte, Inc., a California corporation

50. Todd Pipe & Supply – Escondido, Inc., a California corporation

51. Todd Pipe & Supply – Garden Grove, Inc., a California corporation

52. Todd Pipe & Supply – Hawthorne, Inc., a California corporation

53. Todd Pipe & Supply – Las Vegas, Inc., a California corporation

54. Todd Pipe & Supply – Riverside, Inc., a California corporation

55. Todd Pipe & Supply – San Diego, Inc., a California corporation

56. Todd Pipe & Supply – Sepulveda, Inc., a California corporation

57. U.S. Fusion Services, Inc., a Louisiana corporation

58. USCO Incorporated, a North Carolina corporation

59. Utiliserve, Inc., a Delaware corporation

60. Utiliserve Holdings, Inc., a Delaware corporation

61. Warner Waterworks Sales Company of Wyoming, a Wyoming corporation

62. Waterworks Holding Company, a Colorado corporation

63. Waterworks Sales Company, a Colorado corporation

64. WCC Merger Corporation, a Georgia corporation

65. Z&L Acquisition Corp, a Delaware corporation

SIGNATURE PAGE TO FIRST AMENDMENTEx-10.1

 

Exhibit 10.1

Contract # 9025849

SERVICE AGREEMENT

between

PINE NEEDLE LNG COMPANY, LLC

and

PIEDMONT NATURAL GAS COMPANY, INC.

Dated February 28, 2005

 

 

SERVICE AGREEMENT UNDER RATE SCHEDULE LNG-1

     THIS AGREEMENT is entered into as of the 28th day of February, 2005 by and between Pine Needle
LNG Company, LLC, a North Carolina limited liability company, hereinafter referred to as Pine
Needle, and Piedmont Natural Gas Company, Inc., hereinafter referred to as Customer,

W I T N E S S E T H:

     WHEREAS, Customer has requested firm storage service under Pine Needle’s Rate Schedule LNG-1;
and

     WHEREAS, Pine Needle is willing to provide the requested firm storage service for Customer
pursuant to the terms and provisions of this Service Agreement and Rate Schedule LNG-1.

     NOW, THEREFORE, Pine Needle and Customer agree as follows:

ARTICLE I

SERVICE TO BE RENDERED

     Subject to the terms and provisions of this agreement and of Pine Needle’s Rate Schedule
LNG-1, as amended from time to time, Pine Needle agrees to receive and liquefy natural gas; store
such gas in liquefied form; and vaporize and deliver such gas to Customer or for Customer’s
account, as follows:

     To withdraw from storage, vaporize and deliver the gas stored in liquefied form by Pine Needle
for Customer’s account up to a maximum quantity on any day of 15,000 Dt, which quantity shall be
Customer’s Vaporization Quantity.

     To receive and liquefy natural gas for Customer up to a maximum quantity on any day of 750 Dt,
which shall be Customer’s Liquefaction Quantity.

     To store in liquefied form for Customer’s account up to a total quantity of 150,000 Dt, which
quantity shall be Customer’s Storage Capacity.

ARTICLE II

POINT OF RECEIPT AND DELIVERY

1. The Point of Receipt for all gas tendered to Pine Needle for liquefaction hereunder
shall be at the following point:

The interconnection between Pine Needle’s 10-inch inlet pipeline and
Transcontinental Gas Pipe Line Corporation’s (Transco) mainline system at mile post
1356.95 on Transco’s mainline in Guilford County, North Carolina.

 

 

SERVICE AGREEMENT UNDER RATE SCHEDULE LNG-1

2. The Point of Delivery for all gas delivered by Pine Needle to Customer or for the
account of Customer shall be at the following point:

The interconnection between Pine Needle’s 24-inch outlet pipeline and Transco’s
mainline system at milepost 1356.95 in Guilford County, North Carolina.

ARTICLE III

TERM OF AGREEMENT

     This agreement shall be effective as of April 1, 2005 and shall remain in force and effect
until March 31, 2007, and year to year thereafter, subject to termination by either party upon two
(2) years prior written notice to the other.

ARTICLE IV

RATE SCHEDULE AND PRICE

     1. Customer shall pay Pine Needle for service rendered hereunder in accordance with Pine
Needle’s Rate Schedule LNG-1 and the applicable provisions of the General Terms and Conditions of
Pine Needle’s Original Volume No. 1 FERC Gas Tariff as filed with the Federal Energy Regulatory
Commission, and as the same may be amended or superseded from time to time. Such rate schedule and
General Terms and Conditions are by this reference made a part hereof.

     2. Pine Needle shall have the unilateral right to propose, file and make effective with the
Federal Energy Regulatory Commission, or other regulatory authority having jurisdiction, changes
and revisions to the rates and rate design proposed pursuant to Section 4 of the Natural Gas Act,
or to propose, file and make effective superseding rates or rate schedules, for the purposes of
changing the rates, charges, rate design, terms and conditions of service and other provisions
thereof effective as to Customer; provided however that the (i) firm character of service, (ii)
term of agreement (as set forth in Article III above), (iii) quantities, and (iv) points of
receipt and delivery shall not be subject to unilateral change under this paragraph. Customer
shall have the right to file with the Commission or other regulatory authority in opposition to any
such filings or proposals by Pine Needle.

ARTICLE V

MISCELLANEOUS

     1. The subject headings of the Articles of this agreement are inserted for the purpose of
convenient reference and are not intended to be a part of this agreement nor to be considered in
the interpretation of the same.

     2. This agreement supersedes and cancels as of the effective date hereof the following
contracts between the parties hereto: None

     3. No waiver by either party of any one or more defaults by the other in the performance of
any provisions of this agreement shall operate or be construed as a waiver of any future default or
defaults, whether of a like or different character.

 

 

SERVICE AGREEMENT UNDER RATE SCHEDULE LNG-1

     4. This agreement shall be interpreted, performed and enforced in accordance with the laws of
the State of North Carolina.

     5. This agreement shall be binding upon, and inure to the benefit of the parties hereto and
their respective successors and assigns.

     6. Notices to either party shall be in writing and shall be considered as duly delivered when
mailed to the other party at the following address:

	 	 	 	 	 
	

	 	(a)
	 	If to Pine Needle:
	

	 	 	 	Pine Needle LNG Company, LLC
	

	 	 	 	c/o Pine Needle Operating Company
	

	 	 	 	P.O. Box 1396
	

	 	 	 	2800 Post Oak Boulevard 77056
	

	 	 	 	Houston, Texas 77251-1396
	

	 	 	 	Attention: Director – Marketing Services
	 
	 	 	 	 
	

	 	(b)
	 	If to Customer:
	

	 	 	 	Piedmont Natural Gas Company, Inc.
	

	 	 	 	P. O. Box 33068
	

	 	 	 	(1915 Rexford Road 28211)
	

	 	 	 	Charlotte, North Carolina 28233
	

	 	 	 	Attention: Director - Federal Regulatory and Supply Planning

Such addresses may be changed from time to time by mailing appropriate notice thereof to the other
party.

     IN WITNESS WHEREOF, the parties hereto have caused this agreement to be signed by their
respective officers or representatives thereunto duly authorized on the day and year above written.

	 	 	 	 	 	 	 
	 	 	PINE NEEDLE LNG COMPANY, LLC	 	 
	 	 	by its agent	 	 
	 	 	PINE NEEDLE OPERATING COMPANY	 	 
	 
	 	 	 	 	 	 
	

	 	By
	 	/s/ Frank J. Ferazzi	 	 
	

	 	 	 	 	 	 
	

	 	 	 	Frank J. Ferazzi

Vice President-Commercial Operations	 	 
	 
	 	 	 	 	 	 
	 	 	CUSTOMER	 	 
	 
	 	 	 	 	 	 
	

	 	By
	 	/s/ Franklin H. Yoho	 	 
	

	 	 	 	 	 	 
	

	 	 	 	Name: Franklin H. Yoho	 	 
	

	 	 	 	Title: Senior Vice President-Commercial	 	 
	

	 	 	 	Operations

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