Document:

EX-10.1

EXHIBIT 10.1

SECOND AMENDMENT

     THIS SECOND AMENDMENT dated as of July 23, 2009 (this “Amendment”) amends the Amended
and Restated Five-Year Revolving Credit Agreement dated as of April 20, 2007, as amended as of
September 26, 2007 (as previously amended, the “Credit Agreement”), among Anixter Inc.
(“Anixter”), various subsidiaries of Anixter (the “Borrowing Subsidiaries”),
various financial institutions (the “Lenders”) and Bank of America, N.A., as administrative
agent (in such capacity, the “Administrative Agent”), Swing Line Lender and L/C Issuer.
Terms defined in the Credit Agreement are, unless otherwise defined herein or the context otherwise
requires, used herein as defined therein.

     WHEREAS, Anixter, the Borrowing Subsidiaries, the Lenders and the Administrative Agent have
entered into the Credit Agreement; and

     WHEREAS, the parties hereto desire to amend the Credit Agreement in certain respects as more
fully set forth herein;

     NOW, THEREFORE, the parties hereto agree as follows:

     SECTION 1 Amendments. Subject to the satisfaction of the conditions precedent set
forth in Section 4, the Credit Agreement shall be amended as follows. (Text being inserted
in the Credit Agreement is indicated herein by the use of an italic font.)

     1.1 Deletion and Replacement of Definitions. Section 1.01 is amended by (i) deleting
the definitions of “Aggregate Tranche 1 Commitments”, “Aggregate Tranche 2
Commitments”, “Tranche 1 Commitment”, “Tranche 1 Lender”, “Tranche 1
Loan”, “Tranche 1 Outstandings”, “Tranche 1 Pro Rata Share”, “Tranche 2
Commitment”, “Tranche 2 Lender”, “Tranche 2 Loan”, “Tranche 2
Outstandings” and “Tranche 2 Pro Rata Share”; (ii) replacing all references to
“Aggregate Tranche 1 Commitments” or “Aggregate Tranche 2 Commitments” with references to
“Aggregate Commitments”; and (iii) amending the following definitions in their entirety to read as
follows:

     “Aggregate British Pound Sterling Commitments” means US$100,000,000, as such amount
may be modified from time to time in accordance with this Agreement. The Aggregate British Pound
Sterling Commitments are part of, and not in addition to, the Aggregate Commitments. The aggregate
amount of the Aggregate British Pound Sterling Commitments and the Aggregate Canadian Dollar
Commitments shall not exceed US$125,000,000.

     “Aggregate Canadian Dollar Commitments” means US$25,000,000, as such amount may be
modified from time to time in accordance with this Agreement. The Aggregate Canadian Dollar
Commitments are part of, and not in addition to, the Aggregate Commitments. The aggregate amount
of the Aggregate British Pound Sterling

 

 

Commitments and the Aggregate Canadian Dollar Commitments shall not exceed US$125,000,000.

     “Aggregate Commitments” means US$350,000,000, as such amount may be
reduced or adjusted from time to time in accordance with this Agreement.

     “Class” means the character of certain Loans as Committed Loans, Swing
Line Loans, British Pound Sterling Loans or Canadian Dollar Loans.

     “Commitment” means, as to each Lender, its obligation to (a) make
Committed Loans to the Borrowers pursuant to Section 2.01, (b) purchase
participations in L/C Obligations, (c) purchase participations in Swing Line Loans,
(d) purchase participations in British Pound Sterling Loans and (e) purchase
participations in Canadian Dollar Loans and Canadian Banker’s Acceptances, and in an
aggregate principal Dollar Equivalent amount at any one time outstanding not to
exceed the US Dollar amount of such Commitment set forth opposite such Lender’s name
on Schedule 2.01 or in the Assignment and Assumption pursuant to which such
Lender becomes a party hereto, as applicable, as such amount may be modified from
time to time in accordance with this Agreement.

     “Committed Borrowing” means a borrowing consisting of simultaneous
Loans of the same Type and, if applicable, having the same Interest Period made by
each of the Lenders pursuant to Section 2.01.

     “Committed Loan” has the meaning specified in Section 2.01.

     “L/C Advance” means, with respect to each Lender, such Lender’s funding
of its participation in any L/C Borrowing in accordance with its Pro Rata Share.

     “L/C Borrowing” means an extension of credit resulting from a drawing
under any Letter of Credit which has not been reimbursed on the date when made or
refinanced as a Committed Borrowing of Loans.

     “Letter of Credit Sublimit” means an amount equal to US$20,000,000. The Letter of
Credit Sublimit is part of, and not in addition to, the Aggregate Commitments.

     “Pro Rata Share” means, as to any Lender, the percentage (carried out
to the ninth decimal place) that such Lender’s Commitment comprises of the Aggregate
Commitments, as such share may be adjusted as contemplated herein.

     “Swing Line Sublimit” means an amount equal to US$15,000,000. The
Swing Line Sublimit is part of, and not in addition to, the Aggregate Commitments.

     “Total Outstandings” means at any time the aggregate outstanding
principal amount (or Dollar Equivalent principal amount, as applicable) of all

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Loans, Swing Line Loans, British Pound Sterling Loans, Canadian Dollar Loans
and all L/C Obligations and the Dollar Equivalent amount of the unpaid portion of
the face amount of all Canadian Banker’s Acceptances.

     “Voting Percentage” means, as to any Lender, (a) at any time when the
Commitments are in effect, such Lender’s Pro Rata Share and (b) at any time after
the termination of the Commitments, the percentage (carried out to the ninth decimal
place) which (i) the sum of (A) the Outstanding Amount of such Lender’s Committed
Loans, plus (B) such Lender’s Pro Rata Share (if any) of the Outstanding
Amount of Swing Line Loans, British Pound Sterling Loans, Canadian Dollar Loans,
Canadian Banker’s Acceptances and L/C Obligations, then constitutes of (ii) the
Total Outstandings; provided that if any Lender has failed to fund any
portion of the Committed Loans, or participations in Swing Line Loans, British Pound
Sterling Loans, Canadian Dollar Loans, Canadian Banker’s Acceptances or L/C
Obligations required to be funded by it hereunder, such Lender’s Voting Percentage
shall be deemed to be —0-, and the respective Pro Rata Shares and Voting
Percentages of the other Lenders shall be recomputed for purposes of this definition
and the definition of “Required Lenders” without regard to such Lender’s Commitment
or the outstanding amount of its Committed Loans, as the case may be.

     1.2 Addition of Definitions. Section 1.01 is further amended by adding
thereto the following definitions in proper alphabetical sequence:

     “Second Amendment” means the Second Amendment dated as of July 23, 2009
to this Agreement.

     “Second Amendment Effective Date” means the effective date of the
Second Amendment.

     1.3 Pricing. Section 1.01 is further amended by replacing the table in the
definition of “Applicable Margin” with the following:

	 	 	 	 	 	 	 	 	 
	Applicable Margin
	 	 	Debt Ratings	 	 	 	Eurocurrency	 	 
	Pricing	 	S&P/Moody’s/	 	 	 	Rate +/	 	Base Rate
	Level	 	Fitch	 	Facility fee	 	Letter of Credit fee	 	+
	1
	 	3BBB+/Baa1/BBB+
	 	0.15%
	 	1.25%
	 	0.25%
	2
	 	BBB/Baa2/BBB
	 	0.20%
	 	1.50%
	 	0.50%
	3
	 	BBB-/Baa3/BBB-
	 	0.25%
	 	1.75%
	 	0.75%
	4
	 	BB+/Ba1/BB+
	 	0.50%
	 	2.00%
	 	1.00%
	5
	 	BB/Ba2/BB
	 	0.50%
	 	2.25%
	 	1.25%
	6
	 	£BB-/Ba3/BB-
	 	0.50%
	 	2.50%
	 	1.50%

     1.4 Committed Loans. Section 2.01 is amended in its entirety to read as
follows:

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     2.01 Committed Loans.

     Subject to the terms and conditions set forth herein, each Lender severally
agrees to make loans (each such loan, a “Committed Loan”) in Available
Currencies to the Borrowers from time to time on any Business Day during the period
from the Closing Date to the Maturity Date, in an aggregate amount not to exceed at
any time outstanding the amount of such Lender’s Commitment; provided,
however, that after giving effect to any Committed Borrowing, (i) the Total
Outstandings shall not exceed the Aggregate Commitments and (ii) the aggregate
Outstanding Amount of the Committed Loans of any Lender, plus such Lender’s
Pro Rata Share of the Outstanding Amount of all Swing Line Loans, British Pound
Sterling Loans, Canadian Dollar Loans, Canadian Banker’s Acceptances and L/C
Obligations, shall not exceed such Lender’s Commitment. Within the limits of each
Lender’s Commitment, and subject to the other terms and conditions hereof, the
Borrowers may borrow under this Section 2.01, prepay under Section
2.07, and reborrow under this Section 2.01. Committed Loans may be Base
Rate Loans or Eurocurrency Rate Loans, as further provided herein.

     1.5 Funding Procedures, etc. Section 2.02(b) is amended in its entirety to
read as follows:

     (b) Following receipt of a Committed Loan Notice, the Administrative Agent
shall promptly notify each Lender of its Pro Rata Share of the applicable Committed
Loans, and if no timely notice of a conversion or continuation is provided by a
Borrower the Administrative Agent shall notify each Lender of the details of any
automatic conversion to Base Rate Loans described in the preceding subsection. In
the case of a Committed Borrowing, each applicable Lender shall make the amount of
its Committed Loan available to the Administrative Agent in immediately available
funds in the applicable currency at the Administrative Agent’s Office not later than
1:00 p.m. on the Business Day specified in the applicable Committed Loan Notice.
Upon satisfaction of the applicable conditions set forth in Section 4.02
(and, if such Borrowing is the initial Credit Extension, Section 4.01), the
Administrative Agent shall make all funds so received available to the applicable
Borrower in like funds as received by the Administrative Agent either by (i)
crediting the account of such Borrower on the books of Bank of America with the
amount of such funds or (ii) wire transfer of such funds, in each case in accordance
with instructions provided to the Administrative Agent by such Borrower.

     1.6 References to Tranche 1. Sections 2.03, 2.04, 2.05 and 2.06 are amended so that
each reference therein to a Tranche 1 Lender, its Tranche 1 Commitment, its Tranche 1 Loans and its
Tranche 1 Pro Rata Share shall be references to, respectively, a Lender, its Commitment, its
Committed Loans and its Pro Rata Share.

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     1.7 Deemed Borrowings. Section 2.06(c)(i) is further amended so that the sixth
sentence thereof reads in its entirety as follows: In such event, Anixter shall be deemed to have
requested a Committed Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount
equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in
Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the
unutilized portion of the Aggregate Commitments and the conditions set forth in Section
4.02 (other than the delivery of a Committed Loan Notice).

     1.8 Prepayments. Section 2.07(a) is amended in its entirety to read as follows:

     (a) The Borrowers may, upon notice to the Administrative Agent, at any time or
from time to time voluntarily prepay Committed Loans in whole or in part without
premium or penalty; provided that (i) such notice must be received by the
Administrative Agent not later than 11:00 a.m., (A) three Business Days prior to any
date of prepayment of Eurocurrency Rate Committed Loans, and (B) on the date of
prepayment of Base Rate Committed Loans; (ii) any prepayment of Eurocurrency Rate
Committed Loans shall be in a Dollar Equivalent principal amount of US$5,000,000 or
a whole multiple of US$1,000,000 in excess thereof; and (iii) any prepayment of Base
Rate Committed Loans shall be in a principal amount of US$1,000,000 or a whole
multiple of US$500,000 in excess thereof. Each such notice shall specify the date
and amount of such prepayment, and the Type(s) of Committed Loans to be prepaid.
The Administrative Agent will promptly notify each Lender of its receipt of each
such notice, and of such Lender’s share of such prepayment. If such notice is given
by the Borrowers, the Borrowers shall make such prepayment and the payment amount
specified in such notice shall be due and payable on the date specified therein.
Any prepayment of a Eurocurrency Rate Committed Loan shall be accompanied by all
accrued interest thereon, together with any additional amounts required pursuant to
Section 3.05. Each such prepayment of Committed Loans shall be applied to
the Committed Loans of the Lenders in accordance with their respective Pro Rata
Shares.

     1.9 Commitment Reductions. Section 2.08 is amended in its entirety to read as
follows:

     2.08 Reduction or Termination of Commitments. Anixter may, upon notice to
the Administrative Agent, terminate the Aggregate Commitments, or permanently reduce
the Aggregate Commitments to an amount not less than the then Total Outstandings;
provided that (i) any such notice shall be received by the Administrative
Agent not later than 11:00 a.m., five Business Days prior to the date of termination
or reduction, and (ii) any such partial reduction shall be in an aggregate amount of
US$1,000,000 or any whole multiple of US$500,000 in excess thereof. The
Administrative Agent shall promptly notify the Lenders of any such notice of
reduction or termination of the Aggregate Commitments. Once reduced in accordance
with this Section, the Commitments may not be increased. Any reduction of the
Aggregate Commitments shall be applied to the Commitment of each Lender according to
its Pro Rata Share. All related facility fees accrued

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until the effective date of any termination of the Aggregate Commitments shall
be paid on the effective date of such termination.

     1.10 Facility Fees. Section 2.11(a) is amended in its entirety to read as follows:

     (a) Facility Fees. Anixter shall pay to the Administrative Agent for
the account of each Lender in accordance with its Pro Rata Share, a facility fee
equal to the Applicable Margin times the actual daily amount of the
Aggregate Commitments, regardless of usage. The facility fee in respect of the
Commitments shall accrue at all times from the Closing Date until the Maturity Date
and shall be due and payable quarterly in arrears on the last Business Day of each
March, June, September and December, commencing with the first such date to occur
after the Closing Date, and on the Maturity Date. The facility fee shall be
calculated quarterly in arrears, and if there is any change in the Applicable Margin
during any quarter, the actual daily amount shall be computed and multiplied by the
Applicable Margin separately for each period during such quarter that such
Applicable Margin was in effect. The facility fee shall accrue at all times,
including at any time during which one or more of the conditions in Article
IV is not met.

     1.11 Maintaining Pro Rata Shares. Section 2.20(f) is amended so that the last
sentence thereof reads in its entirety as follows: In addition, on the Scheduled Maturity Date of
each Non-Extending Lender, the Borrowers shall prepay any Committed Loans outstanding on such date
(and pay any additional amounts required pursuant to Section 3.05) to the extent necessary
to keep outstanding Committed Loans ratable with any revised Pro Rata Shares of the respective
Lenders effective as of such date.

     1.12 Restricted Payments. Section 7.05 is amended in its entirety to read as
follows:

     7.05 Payments to AXE. No Borrower shall, and Anixter shall not permit any
Subsidiary of Anixter to, directly or indirectly declare or make any payment,
distribution or contribution to or investment in AXE (whether in cash or otherwise),
provided that (a) so long as no Event of Default or Default exists or would
result from such payment, Anixter may make cash payments to AXE if either (i) the
proceeds of such payment are immediately used by AXE to pay dividends or repurchase
shares of its stock (or warrants, options or other rights in respect of such shares)
and the aggregate amount of all such payments made after the Second
Amendment Effective Date does not exceed the sum of (A) $150,000,000 and (B) 50% of
cumulative Consolidated Net Income for all Fiscal Quarters ending after the Second
Amendment Effective Date; or (ii) the proceeds of such payment are immediately used
by AXE to prepay, purchase or redeem outstanding Indebtedness of AXE and
after giving effect to such payment, the Aggregate Commitments will exceed the Total
Outstandings by not less than $50,000,000; (b) Anixter and its Subsidiaries may make
payments permitted by the parenthetical clause at the end of Section 7.07;
and (c) Anixter and its Subsidiaries may make payments to AXE (i) that are applied
by AXE to pay its actual income tax liabilities in respect of income earned by
Anixter and its

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Subsidiaries, (ii) that are in repayment of intercompany loans made by AXE to
Anixter or such Subsidiary, or (iii) that are applied by AXE to make any cash
settlements to management or employees under equity awards consistent with its past
practice not in excess of US$5,000,000 in the aggregate in any calendar year.

     1.13 Fixed Charge Coverage Ratio. Section 7.17 is amended in its entirety to read as
follows:

     7.17 Minimum Consolidated Fixed Charge Coverage Ratio. No Borrower shall
permit the Consolidated Fixed Charge Coverage Ratio calculated at the end of each
Fiscal Quarter for the period of the immediately preceding four Fiscal Quarters to
be less than (a) 2.25 to 1 for any period ending prior to the last day of the fourth
Fiscal Quarter of 2010, (b) 2.50 to 1 for any period ending on or after the last day
of the fourth Fiscal Quarter of 2010 but on or prior to the last day of the fourth
Fiscal Quarter of 2011 or (c) 3.00 to 1 for any period ending after the last day of
the fourth Fiscal Quarter of 2011.

     1.14 Commitment Schedule. Schedule 2.01 is replaced by Section 2.01 hereto.

     1.15 Form of Committed Loan Notice. Exhibit A-1 is replaced by Exhibit A-1
hereto.

     SECTION 2 Reaffirmation of Guaranty. By its signature hereto, each Guarantor
ratifies and confirms the provisions of the Guaranty with respect to all Loans made by any Lender
to the Borrowers.

     SECTION 3 Warranties. Each Borrower represents and warrants to the Administrative
Agent and the Lenders that, after giving effect to the effectiveness of this Amendment, (a) each
warranty set forth in Article V of the Credit Agreement is true and correct in all material
respects, except to the extent that such warranty specifically refers to an earlier date, and (b)
no Default or Event of Default exists.

     SECTION 4 Effectiveness of Amendment. The amendments set forth in Section 1
above shall become effective when the Administrative Agent shall have received all of the following
(provided that the following are received on or before July 23, 2009): (i) counterparts of this
Amendment executed by Anixter, the Borrowing Subsidiaries, the Guarantors, the Required Lenders and
the Administrative Agent; (ii) all documents as shall reasonably demonstrate the corporate power
and authority of the Loan Parties organized under the laws of a U.S. state to enter into, and the
validity with respect to such Loan Parties of, this Amendment and the other Loan Documents and any
other matters relevant hereto (including opinions of counsel), all in form and substance
satisfactory to the Administrative Agent; (iii) any governmental and third party approvals
necessary or advisable in connection with the execution, delivery and performance of this Amendment
by the Loan Parties; and (iv) for the account of each Lender that delivers a signed counterpart
hereof to the Administrative Agent by 4:00 p.m. Central time on July 20, 2009, an amendment fee in
amount equal to 25 basis points multiplied by the amount of such Lender’s Commitment after giving
effect to this Amendment.

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     SECTION 5 Miscellaneous.

     5.1 Continuing Effectiveness, etc. As herein amended, the Credit Agreement shall
remain in full force and effect and is hereby ratified and confirmed in all respects. After the
effectiveness of this Amendment, all references in the Credit Agreement and the other Loan
Documents to “Credit Agreement” or similar terms shall refer to the Credit Agreement as amended
hereby.

     5.2 Counterparts. This Amendment may be executed in any number of counterparts and by
the different parties on separate counterparts, and each such counterpart shall be deemed to be an
original but all such counterparts shall together constitute one and the same Amendment. Delivery
of a signed signature page hereto by facsimile or e-mail (in a .pdf or similar file) shall be
effective as delivery of a manually signed counterpart hereof.

     5.3 Governing Law. This Amendment shall be a contract made under and governed by the
laws of the State of Illinois.

     5.4 Successors and Assigns. This Amendment shall be binding upon Anixter, the
Borrowing Subsidiaries, the Guarantors, the Lenders and the Administrative Agent and their
respective successors and assigns, and shall inure to the benefit of Anixter, the Borrowing
Subsidiaries, the Lenders and the Administrative Agent and the respective successors and assigns of
the Lenders and the Administrative Agent.

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     Delivered as of the day and year first above written.

	 	 	 	 	 
	 	ANIXTER INC., as Borrower

 	 
	 	By:  	/s/ Rod Shoemaker
 	 
	 	 	Name:  	Rod Shoemaker 	 
	 	 	Title:  	V.P. — Treasurer 	 
	 
	 	ANIXTER INTERNATIONAL BVBA, as a Borrowing Subsidiary

 	 
	 	By:  	/s/ Rod Shoemaker
 	 
	 	 	Name:  	Rod Shoemaker 	 
	 	 	Title:  	V.P. — Treasurer 	 
	 
	 	ANIXTER INTERNATIONAL LTD., as a Borrowing Subsidiary

 	 
	 	By:  	/s/ Rod Shoemaker
 	 
	 	 	Name:  	Rod Shoemaker 	 
	 	 	Title:  	Attorney 	 
	 
	 	ANIXTER CANADA INC., as a Borrowing Subsidiary

 	 
	 	By:  	/s/ Rod Shoemaker
 	 
	 	 	Name:  	Rod Shoemaker 	 
	 	 	Title:  	Authorized Signatory 	 
	 
	 	ANIXTER EURINVEST B.V., as a Borrowing Subsidiary

 	 
	 	By:  	/s/ Rod Shoemaker
 	 
	 	 	Name:  	Rod Shoemaker 	 
	 	 	Title:  	Attorney-in-fact 	 
	 

Second Amendment

S-1

 

	 	 	 	 	 
	 	GUARANTORS:

ANIXTER INTERNATIONAL INC.

 	 
	 	By:  	/s/ Rod Shoemaker
 	 
	 	 	Name:  	Rod Shoemaker 	 
	 	 	Title:  	V.P. — Treasurer 	 
	 
	 	ANIXTER-REAL ESTATE, INC.

 	 
	 	By:  	/s/ Rod Shoemaker
 	 
	 	 	Name:  	Rod Shoemaker 	 
	 	 	Title:  	V.P. — Treasurer 	 
	 
	 	ANIXTER INFORMATION SYSTEMS CORPORATION

 	 
	 	By:  	/s/ Rod Shoemaker
 	 
	 	 	Name:  	Rod Shoemaker 	 
	 	 	Title:  	V.P. — Treasurer 	 
	 
	 	ANIXTER FINANCIAL INC.

 	 
	 	By:  	/s/ Rod Shoemaker
 	 
	 	 	Name:  	Rod Shoemaker 	 
	 	 	Title:  	V.P. — Treasurer 	 
	 
	 	ANIXTER PROCUREMENT CORPORATION

 	 
	 	By:  	/s/ Rod Shoemaker
 	 
	 	 	Name:  	Rod Shoemaker 	 
	 	 	Title:  	V.P. — Treasurer 	 
	 

Second Amendment

S-2

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as Administrative Agent

 	 
	 	By:  	/s/ Joan Mok
 	 
	 	 	Name:  	Joan Mok  	 
	 	 	Title:  	Vice President 	 
	 
	 	BANK OF AMERICA, N.A., as a Lender, Swing
 Line Lender
and L/C Issuer

 	 
	 	By:  	/s/ Brian Lukehart
 	 
	 	 	Name:  	Brian Lukehart 	 
	 	 	Title:  	Vice President 	 
	 

Second Amendment

S-3

 

	 	 	 	 	 
	 	THE BANK OF NOVA SCOTIA, as
 Co-Documentation Agent
and Lender

 	 
	 	By:  	/s/ Ning Cai
 	 
	 	 	Name:  	Ning Cai 	 
	 	 	Title:  	Director 	 
	 

Second Amendment

S-4

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as 
Co-Documentation Agent
and Lender

 	 
	 	By:  	/s/ Suzanne D. Ergastolo
 	 
	 	 	Name:  	Suzanne D. Ergastolo 	 
	 	 	Title:  	Vice President 	 
	 

Second Amendment

S-5

 

	 	 	 	 	 
	 	WACHOVIA BANK NATIONAL ASSOCIATION, as

Co-Documentation Agent and a Lender

 	 
	 	By:  	/s/ C. Jeffrey Seaton
 	 
	 	 	Name:  	C. Jeffrey Seaton 	 
	 	 	Title:  	Managing Director 	 
	 	 	 
	 	By:  	                                              /s/ C. Jeffrey Seaton
 	 
	 	 	Name:  	C. Jeffrey Seaton 	 
	 	 	Title:  	Managing Director 	 
	 

Second Amendment

S-6

 

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL
 ASSOCIATION, as
Syndication Agent and a 
Lender

 	 
	 	By:  	/s/ Charles W. Reed
 	 
	 	 	Name:  	Charles W. Reed 	 
	 	 	Title:  	Vice President 	 
	 

Second Amendment

S-7

 

	 	 	 	 	 
	 	NATIONAL CITY BANK, as a Lender

 	 
	 	By:  	/s/ Jon R. Hinard
 	 
	 	 	Name:  	Jon R. Hinard 	 
	 	 	Title:  	Senior Vice President 	 
	 

Second Amendment

S-8

 

	 	 	 	 	 
	 	SUNTRUST BANK, as a Lender

 	 
	 	By:  	/s/ Baerbel Freudenthaler
 	 
	 	 	Name:  	Baerbel Freudenthaler 	 
	 	 	Title:  	Vice President 	 
	 

Second Amendment

S-9

 

	 	 	 	 	 
	 	BNP PARIBAS, as a Lender

 	 
	 	By:  	/s/ Todd Rodgers
 	 
	 	 	Name:  	Todd Rodgers 	 
	 	 	Title:  	Director 	 
	 	 	 
	 	By:  	                                              /s/ William Davidson
 	 
	 	 	Name:  	William Davidson 	 
	 	 	Title:  	Director 	 
	 

Second Amendment

S-10

 

	 	 	 	 	 
	 	KEYBANK NATIONAL ASSOCIATION, as a Lender

 	 
	 	By:  	/s/ Frank J. Jancar
 	 
	 	 	Name:  	Frank J. Jancar 	 
	 	 	Title:  	Vice President 	 
	 

Second Amendment

S-11

 

	 	 	 	 	 
	 	THE NORTHERN TRUST COMPANY, as a Lender

 	 
	 	By:  	/s/ Patrick Cowan
 	 
	 	 	Name:  	Patrick Cowan 	 
	 	 	Title:  	Vice President 	 
	 

Second Amendment

S-12

 

	 	 	 	 	 
	 	THE ROYAL BANK OF SCOTLAND PLC, as a Lender

 	 
	 	By:  	/s/ Angela Reilly
 	 
	 	 	Name:  	Angela Reilly 	 
	 	 	Title:  	Managing Director 	 
	 

Second Amendment

S-13

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, as a Lender

 	 
	 	By:  	/s/ Mary Ann Klemm
 	 
	 	 	Name:  	Mary Ann Klemm 	 
	 	 	Title:  	Vice President 	 
	 

Second Amendment

S-14

 

SCHEDULE 2.01

COMMITMENTS AND PRO RATA SHARES

	 	 	 	 	 	 	 	 	 
	Lender	 	Commitment	 	Pro Rata Share
	 
	 
	 	 	 	 	 	 	 	 
	Bank of America, N.A.
	 	US$	45,888,888.89  	 	 	 	13.111111111	%
	The Bank of Nova Scotia
	 	US$	38,111,111.11   	 	 	 	10.888888889	%
	JPMorgan Chase Bank, N.A.
	 	US$	38,111,111.11 	 	 	 	10.888888889	%
	Wachovia Bank National Association
	 	US$	38,111,111.11  	 	 	 	10.888888889	%
	Wells Fargo Bank, National
Association
	 	US$	38,111,111.11  	 	 	 	10.888888889	%
	National City Bank
	 	US$	23,333,333.33	 	 	 	6.666666667	%
	SunTrust Bank
	 	US$	25,666,666.67	 	 	 	7.333333333	%
	BNP Paribas
	 	US$	16,333,333.33	 	 	 	4.666666667	%
	KeyBank National Association
	 	US$	21,777,777.78	 	 	 	6.222222222	%
	The Northern Trust Company
	 	US$	21,000,000.00	 	 	 	6.000000000	%
	The Royal Bank of Scotland PLC
	 	US$	21,777,777.78	 	 	 	6.222222222	%
	U.S. Bank, National Association
	 	US$	21,777,777.78	 	 	 	6.222222222	%
	 
	 	 	 	 	 	 	 	 
	Total
	 	US$	350,000,000.00	 	 	 	100.000000000	%

Schedule 2.01-1

 

 

SCHEDULE 2.01

COMMITMENTS AND PRO RATA SHARES

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	British Pound
	British Pound	 	British Pound	 	Sterling Pro Rata
	Sterling Lender	 	Sterling Commitment	 	Share
	 
	 
	 	 	 	 	 	 	 	 
	Bank of America, N.A.
	 	US$	25,000,000	 	 	 	25.0	%
	JPMorgan Chase Bank, N.A.
	 	US$	25,000,000	 	 	 	25.0	%
	Wachovia Bank National Association
	 	US$	25,000,000	 	 	 	25.0	%
	Wells Fargo Bank, National Association
	 	US$	25,000,000	 	 	 	25.0	%
	 
	 	 	 	 	 	 	 	 
	Total
	 	US$	100,000,000	 	 	 	100.000000000	%

Schedule 2.01-2

 

 

SCHEDULE 2.01

COMMITMENTS AND PRO RATA SHARES

	 	 	 	 	 	 	 	 	 
	 	 	Canadian Dollar	 	Canadian Dollar Pro
	Canadian Dollar Lender	 	Commitment	 	Rata Share
	 
	 
	 	 	 	 	 	 	 	 
	The Bank of Nova Scotia
	 	US$	25,000,000	 	 	 	100.0	%
	 
	 	 	 	 	 	 	 	 
	Total
	 	US$	25,000,000	 	 	 	100.000000000	%

Schedule 2.01-3

 

 

EXHIBIT A-1

FORM OF COMMITTED LOAN NOTICE

Date: ___________, _____

To: Bank of America, N.A., as Administrative Agent

Ladies and Gentlemen:

     Reference is made to that certain Amended and Restated Five-Year Revolving Credit Agreement,
dated as of April 20, 2007 (as amended, restated, extended, supplemented or otherwise modified in
writing from time to time, the “Agreement;” the terms defined therein being used herein as
therein defined), among Anixter Inc., certain of its Subsidiaries, the Lenders from time to time
party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line
Lender.

     The undersigned hereby requests (select one):

o A Borrowing of Committed Loans

o A conversion or continuation of Committed Loans

	 	1.	 	On ____________   (a Business Day).
	 
	 	2.	 	In the amount of [US$______]. [Euro ______]
	 
	 	3.	 	Comprised of                          .[Type of Committed Loan requested]
	 
	 	4.	 	For Eurocurrency Rate Loans: with an Interest Period of                              months.

          [The Committed Borrowing requested herein complies with the proviso to the first sentence of
Section 2.01 of the Agreement.]

	 	 	 	 	 
	 	[BORROWER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

A-1-1EX-10.2

EXHIBIT 10.2

AMENDMENT NO. 7 TO

AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT

          THIS AMENDMENT NO. 7 TO AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT (the
“Amendment”), dated as of July 24, 2009, among ANIXTER RECEIVABLES CORPORATION, a Delaware
corporation (the “Seller”), ANIXTER INC., a Delaware corporation (“Anixter”), as
the initial Servicer, each financial institution party hereto as a Financial Institution, FALCON
ASSET SECURITIZATION COMPANY LLC (“Falcon”) and THREE PILLARS FUNDING LLC (f/k/a Three
Pillars Funding Corporation) (“Three Pillars”), as conduits, (collectively, the
“Conduits” and each individually, a “Conduit”), SUNTRUST ROBINSON HUMPHREY, INC.
and JPMORGAN CHASE BANK, N.A. (successor by merger to Bank One, NA) (“J.P. Morgan”), as
managing agents (collectively, the “Managing Agents” and each individually, a “Managing
Agent”) and J.P. Morgan, as agent for the Purchasers (the “Agent”).

WITNESSETH:

          WHEREAS, the Seller, Anixter, the Financial Institutions, the Conduits, the Managing Agents
and the Agent are parties to that certain Amended and Restated Receivables Purchase Agreement,
dated as of October 3, 2002 (as amended, restated, supplemented or otherwise modified from time to
time, the “Agreement”); and

          WHEREAS the parties hereto desire to amend the Agreement on the terms and conditions set forth
below;

          NOW THEREFORE, in consideration of the premises herein contained, and for other good and
valuable consideration, the receipt of which is hereby acknowledged, the parties hereto hereby
agree as follows:

     SECTION 1. Defined Terms. Capitalized terms used and not otherwise defined herein
shall have the meanings assigned to such terms in the Agreement.

     SECTION 2. Amendments to the Agreement. Subject to the satisfaction of the conditions
precedent set forth in Section 3 below, the parties hereto agree that the Agreement is
amended as follows:

     (a) Section 1.2 of the Agreement is hereby amended by amending and restating the second
sentence of such section in its entirety to read as follows:

     “Each Purchase Notice shall be subject to Section 6.2 hereof and,
except as set forth below, shall be irrevocable and shall specify the requested (i)
Purchase Price (which shall not be less than $500,000 per Purchase Group) and (ii)
in the event a Conduit declines to make an Incremental Purchase and such Incremental
Purchase is to be funded by the related Financial Institutions, the type of Discount
Rate and Tranche Period.”

 

 

     (b) Section 1.3 of the Agreement is hereby amended by deleting the reference to “which
must be a Monthly Settlement Date or a Mid-Month Report Date,” from such section in its
entirety.

     (c) Section 2.6 of the Agreement is hereby amended by deleting the reference to “three
(3) Business Days” appearing therein and replacing such reference with a reference to “one
(1) Business Day”.

     (d) Section 5.1(g) of the Agreement is hereby amended by deleting the reference to “any
Monthly Report, any Mid-Month Report” appearing therein and replacing such reference with a
reference to “any Report”.

     (e) Clause (ii) of Section 5.1(t) of the Agreement is hereby amended and restated in
its entirety to read as follows:

          “Each Receivable included in the Net Receivables Balance as an Eligible
Receivable on the date of its purchase under the Receivables Sale Agreement was an
Eligible Receivable on such purchase date, and, as of the date of each Report and
any other report delivered pursuant to Section 8.5, each Receivable included
in the Net Receivables Balance on each such Report or other report was an Eligible
Receivable.”

     (f) Clause (i) of Section 6.2 of the Agreement is hereby amended and restated in its
entirety to read as follows:

          “(i) all Reports and other reports as and when due under Section 8.5;”

     (g) Section 8.5 of the Agreement is hereby amended and restated in its entirety to read
as follows:

          “Section 8.5 Reports. The Servicer shall prepare and forward to each
Managing Agent:

     (i) on each Determination Date, a Monthly Report;

     (ii) if (x) Rating Level II is in effect or (y) Rating Level I is in effect
and the Servicer has notified the Managing Agents that it will deliver Reports
as if Rating Level II were in effect, on the last Business Day of each calendar
month, a Mid-Month Report containing information relating to the period from the
first day of the related fiscal month to and including the Friday closest to the
fifteenth day of such calendar month;

     (iii) if Rating Level III is in effect, on the Tuesday of each week (or, if
such day is not a Business Day, the next succeeding Business Day), a Weekly
Report containing information relating to the Weekly Period then most recently
ended;

     (iv) if Rating Level IV is in effect, on each Business Day, a Daily Report
containing information relating to the period since the last delivery of any
Report hereunder;

-2-

 

     (v) at such times as either Managing Agent shall reasonably request, a
report in the form of a Monthly Report updating the information contained in the
most recent Monthly Report; and

     (vi) at such times as either Managing Agent shall request, a listing by
Obligor of all Receivables together with an aging of such Receivables.”

     (h) Section 9.1(j) of the Agreement is hereby amended and restated in its entirety to
read as follows:

          “[Intentionally Omitted.]”

     (i) Section 9.1 of the Agreement is hereby amended by adding the following new clauses
(l), (m) and (n) to the end of such section:

          “(l) Failure of Seller to deliver, on or before September 23, 2009, a fully
executed Collection Account Agreement (or another account control agreement that is
reasonably satisfactory to the Agent) with respect to Collection Account #
8666000209 maintained at Bank of America, N.A.

          “(m) The Leverage Ratio as of the end of any Fiscal Quarter shall be greater
than 3.25 to 1.00.”

          “(n) the Consolidated Fixed Charge Coverage Ratio calculated at the end of each
Fiscal Quarter for the period of the immediately preceding four Fiscal Quarters
shall be less than (a) 2.25 to 1.00 for any period ending prior to the last day of
the fourth Fiscal Quarter of 2010, (b) 2.50 to 1.00 for any period ending on or
after the last day of the fourth Fiscal Quarter of 2010 but on or prior to the last
day of the fourth Fiscal Quarter of 2011 or (c) 3.00 to 1.00 for any period ending
after the last day of the fourth Fiscal Quarter of 2011.”

     (j) The definition of “Applicable Margin” set forth in Exhibit I to the
Agreement is hereby amended and restated in its entirety to read as follows:

     ““Applicable Margin” means 3.50%.”

     (k) The definition of “Base Rate” set forth in Exhibit I to the Agreement is
hereby amended and restated in its entirety to read as follows:

     ““Base Rate” means:

          (a) with respect to each Financial Institution in the Falcon Purchase Group,
for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect
on such day, (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%
and (c) the LIBO Rate for a one month Tranche Period on such day (or if such day is
not a Business Day, the immediately preceding Business Day) plus 1%,
provided that, for the avoidance of doubt, the LIBO Rate for purposes of
this definition for any day shall be based on the rate appearing on the Reuters BBA
Libor Rates Page 3750 (or on any successor or substitute page of such page) at
approximately 11:00 a.m. London time on such day; and

-3-

 

          (b) with respect to each Financial Institution in the Three Pillars Purchase
Group, for any day, a rate per annum equal to the greater of (i) the SunTrust
Federal Funds Rate most recently determined by SunTrust Bank plus one half of one
percent (0.50%), and (ii) the SunTrust Prime Rate.

          Any change in the Base Rate due to a change in the Prime Rate, the Federal
Funds Effective Rate, the SunTrust Federal Funds Rate or the LIBO Rate shall be
effective from and including the effective date of such change in the Prime Rate,
the Federal Funds Effective Rate, the SunTrust Federal Funds Rate or the LIBO Rate,
respectively.”

     (l) The definition of “Credit Agreement” set forth in Exhibit I to the
Agreement is hereby amended and restated in its entirety to read as follows:

          ““Credit Agreement” means that certain Amended and Restated Five-Year
Revolving Credit Agreement dated as of April 20, 2007 by and among Anixter, the
Subsidiaries of Anixter identified as Borrowing Subsidiaries thereunder, Bank of
America, N.A. as Administrative Agent, Wells Fargo Bank, N.A. as Syndication Agent,
JPMorgan Chase Bank, N.A. and The Bank of Nova Scotia as Co-Documentation Agents,
and the lenders party thereto from time to time, as the same may be amended,
restated, supplemented or otherwise modified from time to time.”

     (m) The definition of “Default Fee” set forth in Exhibit I to the Agreement is
hereby amended by deleting the reference to the percentage “2.25%” appearing in such
definition and replacing such percentage with the percentage “4.5%”.

     (n) The definition of the term “Dilution Reserve Ratio” set forth in Exhibit I
to the Agreement is hereby amended by deleting therefrom the reference to “2.0” and
replacing such reference with a reference to “Stress Factor”.

     (o) The definition of “Excluded Receivable” set forth in Exhibit I to the
Agreement is hereby amended and restated in its entirety to read as follows:

          ““Excluded Receivable” means indebtedness and other obligations owed to
Originator, in respect of: (i) all accounts receivable generated by Originator’s
Latin American export locations, (ii) all accounts receivable generated by
Originator’s “Pacer”, “IMS”, “QSN”, “Pentacon” and “World Class Wire and Cable”
divisions which are not included in Originator’s main subledger system, (iii) all
accounts receivable generated by any of Originator’s divisions which are acquired
after July 24, 2009 which are not included in Originator’s main subledger system,
(iv) all accounts receivable owing by Obligors with the following customer numbers:
139661 or 804470 (in each case, as such customer numbers are in effect or otherwise
categorized as of July 24, 2009), (v) all accounts receivable owing by Obligors with
the following customer prefixes: N-N, NN+ or ORO (in each case, as such customer
prefixes are in effect or otherwise categorized as of July 24, 2009) and (vi) all
accounts receivable existing at Originator’s general corporate division coded WC (as
such division is in effect or otherwise structured as of July 24, 2009).”

-4-

 

     (p) The definition of “Liquidity Termination Date” set forth in Exhibit I to
the Agreement is hereby amended and restated in its entirety to read as follows:

          ““Liquidity Termination Date” means July 23, 2010.”

     (q) The definition of “Loss Horizon Ratio” set forth in Exhibit I to the
Agreement is hereby amended and restated in its entirety to read as follows:

          ““Loss Horizon Ratio” means, for any Collection Period, a fraction
(calculated as a percentage) computed by dividing (i) the aggregate Outstanding
Balance of all Receivables generated during Applicable Loss Horizon Period by (ii)
the aggregate Net Receivables Balance as at the last day of the most recently ended
Collection Period.”

     (r) The definition of the term “Loss Reserve” set forth in Exhibit I to the
Agreement is hereby amended by deleting the reference to the percentage “9%” appearing in
such definition and replacing such percentage with the percentage “12%”.

     (s) The definition of the term “Loss Reserve Ratio” set forth in Exhibit I to
the Agreement is hereby amended by deleting therefrom the reference to “2.0” and replacing
such reference with a reference to “Stress Factor”.

     (t) The definition of “Purchase Limit” set forth in Exhibit I to the Agreement
is hereby amended and restated in its entirety to read as follows:

          ““Purchase Limit” means $200,000,000, as such amount may be increased or
decreased in accordance with the provisions of Article XII.”

     (u) The definition of “Three Pillars Broken Funding Costs” set forth in Exhibit
I to the Agreement is hereby amended and restated in its entirety to read as follows:

          ““Three Pillars Broken Funding Costs” if

          (a) any request for an Incremental Purchase is made and such Incremental
Purchase does not occur; or

          (b) any Incremental Purchase or Reinvestment that is funded through the
issuance of commercial paper (a “CP Rate Funding”) or any Incremental
Purchase or Reinvestment that is not funded through the issuance of commercial paper
(an “Alternate Rate Funding”) (i) in either such case, has its principal
reduced without compliance by Seller with the notice requirements hereunder, (ii)
[Reserved], (iii) in the case of a CP Rate Funding, is assigned under any Three
Pillars Credit Agreement to the related Three Pillars Credit Bank for credit related
reasons, due to a termination event or event of default or as required under the
Three Pillars Credit Agreement or (iv) in the case of an Alternate Rate Funding, is
terminated or reduced prior to the last day of the then current Settlement Period,

-5-

 

then, the amount of “Three Pillars Broken Funding Costs” related thereto shall be
equal to the excess, if any, of (1) the CP Costs and fees that would have accrued
during the remainder of the Settlement Period determined by SunTrust to relate to
such Incremental Purchase or Reinvestment subsequent to, as applicable, the proposed
date related to such failure to complete such Incremental Funding or Reinvestment or
the date of such reduction, assignment or termination, assuming that, as applicable,
such Incremental Purchase or Reinvestment had occurred, such reduction, assignment
or termination had not occurred or such notice had not been delivered, over (2) the
income, if any, actually received during the remainder of such period by Three
Pillars from investing the principal related to, as applicable, such Incremental
Purchase that did not occur or such reduction, assignment or termination that did
not occur. All Three Pillars Broken Funding Costs shall be due and payable
hereunder upon demand.”

     (v) The definition of the term “Tranche Period” set forth in Exhibit I to the
Agreement is hereby amended by deleting the phrase “one, two, three or six months” appearing
in clause (a) thereof and replacing such phrase with the phrase “one, two or three months”.

     (w) The following definitions are hereby added to Exhibit I to the Agreement in the
appropriate alphabetical locations:

          “Agreement Accounting Principles” means GAAP as of the date of this
Agreement together with any changes in GAAP after the date hereof which are not
“Material Accounting Changes” (as defined below). If any changes in GAAP are
hereafter required or permitted and are adopted by Anixter International Inc. or
Anixter with the agreement of its independent certified public accountants and such
changes result in a material change in the method of calculation of any of the
financial covenants, restrictions or standards herein or in the related definitions
or terms used therein (“Material Accounting Changes”), the parties hereto
agree to enter into negotiations, in good faith, in order to amend such provisions
in a credit neutral manner so as to reflect equitably such changes with the desired
result that the criteria for evaluating Anixter’s consolidated financial condition
shall be the same after such changes as if such changes had not been made;
provided, however, that no Material Accounting Change shall be given
effect in such calculations until such provisions are amended in a manner reasonably
satisfactory to the Required Financial Institutions. If such amendment is entered
into, all references in this Agreement to Agreement Accounting Principles shall mean
GAAP as of the date of such amendment together with any changes in GAAP after the
date of such amendment which are not Material Accounting Changes.

          “Applicable Loss Horizon Period” means, at any time:

          (a) if Rating Level I is in effect, the four Collection Periods most recently
ended;

          (b) if (x) Rating Level II is in effect or (y) Rating Level I is in effect and
the Servicer has notified the Managing Agents that it will deliver Reports as if
Rating Level II were in effect (and the Servicer is actually delivering Reports as
if Rating Level II were in effect), the three Collection Periods most recently ended
and one-half of the fourth Collection Period most recently ended;

-6-

 

          (c) if Rating Level III is in effect, the three Collection Periods most
recently ended and one-quarter of the fourth Collection Period most recently ended;
and

          (d) if Rating Level IV is in effect, the three Collection Periods most recently
ended.

     For purposes of clarification, if any Applicable Loss Horizon Period includes a
fraction of a Collection Period, the aggregate Outstanding Balance of all
Receivables generated during such fraction of such Collection Period for purposes of
calculating the Loss Horizon Ratio shall be calculated by multiplying (a) such
fraction by (b) the aggregate Outstanding Balance of all Receivables generated
during such Collection Period.

          “Consolidated EBITDA” means, for any period, for the Consolidated Group
calculated in accordance with Agreement Accounting Principles, (i) Consolidated Net
Income for such period taken as a single accounting period, plus (ii) the
provision for depreciation and amortization expense of the Consolidated Group for
such period, plus (iii) income taxes of the Consolidated Group for such
period, and plus (iv) net interest expense of the Consolidated Group for
such period; provided that there shall be excluded from Consolidated EBITDA
any non-cash, non-operating gains or losses (including, without limitation,
extraordinary or unusual gains or losses, gains or losses arising from the sale of
capital assets or the sale of owned buildings and properties and other non-recurring
gains or losses) during such period.

          “Consolidated Fixed Charge Coverage Ratio” means, for any period, the
ratio of (a) the sum of Consolidated EBITDA and Rental Expense for such period to
(b) the amount of Consolidated Fixed Charge Expense of the Consolidated Group for
such period.

          “Consolidated Fixed Charge Expense” means, for any period, the net
interest expense of the Consolidated Group (including the interest component of
capital leases, the interest component of synthetic lease obligations, facility
fees, and fees for standby letters of credit, excluding amortization of deferred
financing fees) plus consolidated yield or discount accrued on the outstanding
aggregate investment or principal amount of claims held by purchasers, assignees or
other transferees of (or of interests in) receivables of Anixter and its
Subsidiaries in connection with any Receivables Securitization Transaction (as
defined in the Credit Agreement) (regardless of the accounting treatment of such
Receivables Securitization Transaction) and Rental Expense of the Consolidated Group
for such period calculated in accordance with Agreement Accounting Principles.

          “Consolidated Funded Indebtedness” means, as of any date of
determination, for the Consolidated Group on a consolidated basis, the sum of (a)
the outstanding principal amount of all obligations and liabilities, whether current
or long-term, for borrowed money (including Obligations hereunder), (b) that portion
of obligations with respect to capital leases that are capitalized in the
consolidated balance sheet of the Consolidated Group, (c) the principal portion of
synthetic lease obligations, (d) the outstanding aggregate investment or principal
amount of claims held by purchasers, assignees or transferees of (or of interests
in) receivables under Receivables Securitization Transactions (as defined in the
Credit Agreement), and (e) without duplication, all Accommodation Obligations (as
defined in the Credit Agreement) with

-7-

 

respect to Indebtedness of the type specified in subsections (a), (b), (c) and
(d) above of Persons other than Anixter or any of its Subsidiaries.

          “Consolidated Group” means Anixter and each of its Subsidiaries.

          “Consolidated Net Income” means, for any period, for the Consolidated
Group on a consolidated basis, the net income of the Consolidated Group for that
period, determined in accordance with Agreement Accounting Principles.

          “Daily Report” means a report, in substantially the form of Exhibit
XIII hereto (appropriately completed), furnished by the Servicer to the Managing
Agents pursuant to Section 8.5.

          “Debt Rating” for any Person at any time means the then current rating
by (i) S&P, (ii) Moody’s or (iii) any other nationally recognized statistical rating
agency of such Person’s long term public senior unsecured noncredit enhanced debt.

          “Federal Funds Effective Rate” means, for any day, the weighted average
(rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight
Federal funds transactions with members of the Federal Reserve System arranged by
Federal funds brokers, as published on the next succeeding Business Day by the
Federal Reserve Bank of New York, or, if such rate is not so published for any day
that is a Business Day, the average (rounded upwards, if necessary, to the next
1/100 of 1%) of the quotations for such day for such transactions received by the
Agent from three Federal funds brokers of recognized standing selected by it.

          “Fiscal Quarter” means a 13-week accounting period of Anixter ending on
or about March 31, June 30, September 30 or December 31 of any fiscal year.

          “Leverage Ratio” means, as of any date of determination, for Anixter
and its Subsidiaries on a consolidated basis, the ratio of (a) the Consolidated
Funded Indebtedness of the Consolidated Group as of such date to (b) Consolidated
EBITDA for the period of the four Fiscal Quarters ending on such date,
provided that, for purposes of calculating the Leverage Ratio, Consolidated
EBITDA shall be calculated on a pro forma basis (in accordance with Article 11 of
Regulation S-X of the Securities and Exchange Commission) to the extent necessary to
give effect to (a) any acquisition made by Anixter or any of its Subsidiaries during
such period (without giving effect to any increase in Consolidated EBITDA reflecting
projected synergies resulting from such acquisition) so long as, and to the extent
that, (i) Anixter delivers to the Agent (which shall promptly deliver to each
Financial Institution) a summary in reasonable detail of the assumptions underlying,
and the calculations made, in computing Consolidated EBITDA on a pro forma basis and
(ii) the Required Financial Institutions do not object to such assumptions and/or
calculations within ten (10) Business Days after receipt thereof; and (b) any
divestiture of a Subsidiary, division or other operating unit made during such
period.

          “Prime Rate” means the rate of interest per annum publicly announced
from time to time by JPMorgan Chase Bank, N.A. as its prime rate in effect at its
principal office in New York City; each change in the Prime Rate shall be effective
from and including the date such change is publicly announced as being effective.

-8-

 

          “Rating Level” means, any of the following based upon the Debt Rating
of Anixter then in effect:

          Rating Level I: Greater than or equal to BBB- by S&P and Baa3 by
Moody’s;

          Rating Level II: Less than BBB- by S&P or Baa3 by Moody’s but greater
than or equal to BB by S&P or Ba2 by Moody’s;

          Rating Level III: Less than BB by S&P and Ba2 by Moody’s but greater
than or equal to B+ by S&P and B1 by Moody’s; and

          Rating Level IV: Less than B+ by S&P or B1 or by Moody’s or unrated by
S&P or Moody’s.

     “Rental Expense” means, for any period, the total rental expense for
operating leases of the Consolidated Group on a consolidated basis, as determined in
accordance with Agreement Accounting Principles.

     “Report” means a Monthly Report, a Mid-Month Report, a Weekly Report or
a Daily Report, as applicable.

     “Stress Factor” means, as of any date, (i) if the Servicer’s Debt
Ratings are greater than or equal to BB- and Ba3 as of such date, 2.0 and (ii) at
all other times, 2.25.

     “Weekly Period” means, a period commencing on a Monday and ending on
the immediately following Sunday.

     “Weekly Report” means a report, in substantially the form of
Exhibit XII hereto (appropriately completed), furnished by the Servicer to
the Managing Agents pursuant to Section 8.5.”

     (x) The definition of “Bank One Federal Funds Rate” set forth in Exhibit I to the
Agreement is hereby deleted in its entirety.

     (y) Schedule A to the Agreement is hereby replaced with Schedule A attached
hereto.

     (z) Exhibit IV to the Agreement is hereby replaced with Exhibit IV attached
hereto.

     (aa) The Agreement is hereby amended by adding Exhibits XII and XIII thereto in the
forms of Exhibits XII and XIII attached hereto.

     SECTION 3. Effective Date. This Amendment shall become effective and shall be deemed
effective as of the date first written above when:

     (a) the Agent shall have received counterparts hereof executed by each Person for which
a signature block is attached hereto;

-9-

 

     (b) the Agent shall have received counterparts to Amendment No. 4 to Amended and
Restated Receivables Sale Agreement executed by each Person for which a signature block is
attached thereto;

     (c) the Seller shall have paid all invoiced audit and legal fees of Sidley Austin LLP
and Protiviti Inc. incurred by the Agent in connection with the transactions contemplated by
this Amendment and the Agreement; and

     (d) the Managing Agents shall have received (1) counterparts to the Third Amended and
Restated Fee Letter duly executed by each Person for which a signature is attached thereto
and (2) all fees payable on the date hereof pursuant to such Third Amended and Restated Fee
Letter.

     SECTION 4. Representations and Warranties of the Seller Parties. In order to induce
the parties hereto to enter into this Amendment, each of the Seller Parties represents and warrants
to the Agent and the Purchasers, as to itself, that:

     (a) The representations and warranties of such Seller Party set forth in Section
5.1 of the Agreement, as hereby amended, are true, correct and complete on the date
hereof as if made on and as of the date hereof and there exists no Amortization Event or
Potential Amortization Event on the date hereof, provided that in the case of any
representation or warranty in Section 5.1 that expressly relates to facts in existence on an
earlier date, the reaffirmation thereof under this Section 4(a) shall be made as of
such earlier date.

     (b) The execution and delivery by such Seller Party of this Amendment has been duly
authorized by proper corporate proceedings of such Seller Party and this Amendment, and the
Agreement, as amended by this Amendment, constitutes the legal, valid and binding obligation
of such Seller Party, enforceable against such Seller Party in accordance with its terms,
except as such enforcement may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws of general applicability affecting the
enforcement of creditors’ rights generally.

     SECTION 5. Ratification. The Agreement, as amended hereby, is hereby ratified,
approved and confirmed in all respects.

     SECTION 6. Reference to Agreement. From and after the effective date hereof, each
reference in the Agreement to “this Agreement”, “hereof”, or “hereunder” or words of like import,
and all references to the Agreement in any and all agreements, instruments, documents, notes,
certificates and other writings of every kind and nature shall be deemed to mean the Agreement, as
amended by this Amendment.

     SECTION 7. CHOICE OF LAW. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE
INTERNAL LAWS (AND NOT THE LAW OF CONFLICTS) OF THE STATE OF ILLINOIS.

     SECTION 8. Execution of Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which when so
executed

-10-

 

shall be deemed to be an original and all of which taken together shall constitute one and the
same agreement.

     SECTION 9. Sale and Assignment.

     (a) In consideration of the payment of $85,784.31 at or before 11:00 a.m. (New York
time) on the date hereof and concurrently with the effectiveness hereof, Three Pillars
hereby sells and assigns to Falcon, and Falcon hereby purchases and assumes from Three
Pillars, $85,784.31 of outstanding Capital held by Three Pillars before giving effect to
this Section 9 (the “Assigned Amount”). Immediately after giving effect to
this Section 9, (i) Three Pillars shall hold $1,875,000 in outstanding Capital and
(ii) Falcon shall hold $3,125,000 in outstanding Capital.

     (b) All accrued and unpaid fees and CP Costs in respect of the Assigned Amount until
but excluding the date hereof shall be paid to SunTrust Robinson Humphrey, Inc. as Managing
Agent for the Three Pillars Purchase Group, and all other amounts in respect of the Assigned
Amount from and including the date hereof shall be paid to J.P. Morgan as Managing Agent for
the Falcon Purchase Group.

     (c) By executing and delivering this Amendment, Three Pillars and Falcon confirm to and
agree with each other, the Agent, the Managing Agents and the Financial Institutions as
follows: (1) other than the representation and warranty that it has not created any Adverse
Claim upon any interest being transferred hereunder, Three Pillars makes no representation
or warranty and assumes no responsibility with respect to any statements, warranties or
representations made by any other Person in or in connection with the Agreement, the
Liquidity Agreement or the Transaction Documents or the execution, legality, validity,
enforceability, genuineness, sufficiency or value of Falcon, the Agreement or any other
instrument or document furnished pursuant thereto or the perfection, priority, condition,
value or sufficiency of any collateral; (2) Three Pillars makes no representation or
warranty and assumes no responsibility with respect to the financial condition of the
Seller, any Obligor, any Affiliate of Seller or the performance or observance by the Seller,
any Obligor, any Affiliate of Seller of any of their respective obligations under the
Transaction Documents or any other instrument or document furnished pursuant thereto or in
connection therewith; and (3) Falcon will, independently and without reliance upon the
Agent, any Conduit, any Managing Agent, the Seller or any other Financial Institution or
Purchaser and based on such documents and information as it shall deem appropriate at the
time, continue to make its own credit decisions in taking or not taking action under the
Agreement, the Liquidity Agreement and the Transaction Documents.

* * * * *

-11-

 

          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and delivered
as of the date first written above:

	 	 	 	 	 
	 	ANIXTER RECEIVABLES CORPORATION, as the Seller

 	 
	 	By:  	/s/ Rod Shoemaker
 	 
	 	 	Name:  	Rod Shoemaker 	 
	 	 	Title:  	V.P. — Treasurer 	 
	 
	 	ANIXTER INC.,

as the initial Servicer

 	 
	 	By:  	/s/ Rod Shoemaker
 	 
	 	 	Name:  	Rod Shoemaker 	 
	 	 	Title:  	V.P. — Treasurer 	 
	 

Signature Page to

Amendment No. 7 to Amended and Restated Receivables Purchase Agreement

 

 

	 	 	 	 	 
	 	FALCON ASSET SECURITIZATION

COMPANY LLC

By: JPMorgan Chase Bank, N.A., its
attorney-in-fact

 	 
	 	By:  	/s/ Joel Gedroic
 	 
	 	 	Name:  	Joel Gedroic 	 
	 	 	Title:  	Executive Director 	 
	 
	 	JPMORGAN CHASE BANK, N.A., as a Financial

Institution, a Managing Agent and as Agent

 	 
	 	By:  	/s/ Joel Gedroic
 	 
	 	 	Name:  	Joel Gedroic 	 
	 	 	Title:  	Executive Director 	 
	 

Signature Page to

Amendment No. 7 to Amended and Restated Receivables Purchase Agreement

 

 

	 	 	 	 	 
	 	THREE PILLARS FUNDING LLC (f/k/a Three Pillars

Funding Corporation)

 	 
	 	By:  	/s/ Doris Hearn
 	 
	 	 	Name:  	Doris Hearn 	 
	 	 	Title:  	Authorized Signatory 	 
	 
	 	SUNTRUST BANK, as a

Financial Institution

 	 
	 	By:  	/s/ Robert Maddox
 	 
	 	 	Name:  	Robert Maddox 	 
	 	 	Title:  	Director 	 
	 
	 	SUNTRUST ROBINSON HUMPHREY, INC., as a
 Managing
Agent

 	 
	 	By:  	/s/ Joseph R. Franke
 	 
	 	 	Name:  	Joseph R. Franke 	 
	 	 	Title:  	Director 	 
	 

Signature Page to

Amendment No. 7 to Amended and Restated Receivables Purchase Agreement

 

 

SCHEDULE A

COMMITMENTS OF FINANCIAL INSTITUTIONS; PURCHASE LIMITS

FALCON PURCHASE GROUP

PURCHASE GROUP LIMIT: $125,000,000

	 	 	 	 	 
	Financial Institution	 	Back-up Commitment	 	Liquidity Commitment
	 	 	 	 	 
	JPMorgan Chase Bank, N.A.
	 	$125,000,000
	 	$127,500,000

THREE PILLARS PURCHASE GROUP

PURCHASE GROUP LIMIT: $75,000,000

	 	 	 	 	 
	Financial Institution	 	Back-up Commitment	 	Liquidity Commitment
	 	 	 	 	 
	SunTrust Bank
	 	$75,000,000
	 	$76,500,000

 

 

EXHIBIT IV

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Bank Name	 	Address	 	ABA	 	Account Name	 	Lockbox ID #	 	Account #	 	Account
Type	 	Lockbox Address	 	Lockbox
Agreements
	Bank of America, N.A.
	 	231 South LaSalle St.
Chicago, IL  60697	 	026009593	 	Credit Card	 	 	 	8666000209	 	Deposit	 	 	 	N/A
	 
	 	 	 	 	 	Depository	 	98908	 	8666600206	 	Deposit	 	P.O. Box 98908
840 Canal
Chicago, IL  60693	 	Yes
	 
	Bank of America, N.A.
	 	1401 Elm Street
Dallas, TX  75202	 	026009593	 	WireXpress	 	847481	 	3751592314	 	Deposit	 	P.O. Box 847481
Dallas, TX  75284-7481	 	Yes
	 
	 	 	 	 	 	Depository	 	847428	 	3751592291	 	Deposit	 	P.O. Box 847428
Dallas, TX  75284-7428	 	Yes

 

 

EXHIBIT XII

Form of Weekly Report

[attached]

 

 

EXHIBIT XIII

Form of Daily Report

[attached]

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