Document:

Amendment No. 2 to the Credit Agreement

 Exhibit 10.20.2 
 AMENDMENT NO. 2 TO CREDIT AGREEMENT 
 This Amendment (this “Amendment”) is
entered into as of July 7, 2006 by and among SEI Investments Company, a Pennsylvania corporation (the “Borrower”), JPMorgan Chase Bank, N.A., individually and as agent (the “Agent”), and the other financial institutions
signatory hereto. 
 RECITALS 
 A. The Borrower, the Agent and the Lenders are party to that certain Credit Agreement dated as of September 14, 2004 (as amended by Amendment No. 1 to Credit Agreement dated as of January 24, 2006, the
“Credit Agreement”). Unless otherwise specified herein, capitalized terms used in this Amendment shall have the meanings ascribed to them by the Credit Agreement. 
 B. The Borrower, the Agent and the undersigned Lenders wish to amend the Credit Agreement on the terms and conditions set forth below. 
 Now, therefore, in consideration of the mutual execution hereof and other good and valuable consideration, the parties hereto agree as follows:

 1. Amendment to Credit Agreement. Upon the “Effective Date” (as defined below), the Credit Agreement shall be amended as
follows: 
 (a) Section 6.19 is amended in its entirety to read as follows: 
 “6.19 Contingent Obligations. The Borrower will not, nor will it permit any Subsidiary to, make or suffer to exist any
Contingent Obligation (including, without limitation, any Contingent Obligation with respect to the obligations of a Subsidiary), except (i) the Guaranty, (ii) by endorsement of instruments for deposit or collection in the ordinary course
of business, (iii) the guaranty by the Borrower of the obligations (not exceeding $82,800,000 in aggregate principal amount) of LSV Employee Group, LLC arising under that certain $82,800,000 credit agreement to be entered into prior to
January 31, 2006 by such Person with LaSalle Bank, N.A. as Administrative Agent and the Lenders party thereto (as such credit agreement may be from time to time amended, restated or refinanced so long as the outstanding principal amount thereof
is not increased by such amendment, restatement or refinancing (the “LSV Agreement”)) and obligations arising under interest rate hedging agreements entered into by LSV Employee Group, LLC as required or permitted by the LSV Agreement in
respect of a notional amount not exceeding the aggregate outstanding principal amount of loans outstanding under the LSV Agreement at the time such interest rate hedging agreements are entered into and (iv) any guaranty entered into pursuant to
Section 6.23 or of Indebtedness permitted by Section 6.11.” 

 2. Representations and Warranties of the Borrower. The Borrower represents and warrants that:

 (a) The Borrower has the power and authority and legal right to execute and deliver this Amendment and to perform its
obligations hereunder. The execution and delivery by the Borrower of this Amendment and the performance of its obligations hereunder have been duly authorized by proper corporate proceedings, and this Amendment is a legal, valid and binding
obligation of the Borrower enforceable against the Borrower in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally; 
 (b) Each of the representations and warranties contained in the Credit Agreement is true and correct in all material respects on and as of
the date hereof as if made on the date hereof except to the extent such representation or warranty is stated to relate solely to an earlier date in which case such representation or warranty shall have been true and correct in all material respects
as of such earlier date; and 
 (c) After giving effect to this Amendment, no Default or Unmatured Default has occurred and is
continuing. 
 3. Effective Date. Section 1 of this Amendment shall become effective upon: 
 (a) the execution and delivery hereof by the Borrower, the Agent and the Required Lenders (without respect to whether it has been executed
and delivered by all the Lenders); and 
 (b) the execution and delivery by the Guarantors of an Affirmation of Guaranty in
the form of Exhibit A hereto. 
 The date upon which such events have occurred is the “Effective Date”. In the event the Effective Date has
not occurred on or before July 14, 2006, Section 1 hereof shall not become operative and shall be of no force or effect. 
 4.
Reference to and Effect Upon the Credit Agreement. 
 (a) Except as specifically amended above, the Credit Agreement
and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed. 
 (b) The
execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Agent or any Lender under the Credit Agreement or any Loan Document, nor constitute a waiver of any provision of the Credit
Agreement or any Loan Document, except as specifically set forth herein. 
  

 - 2 - 

 Upon the effectiveness of this Amendment, each reference in the Credit Agreement to “this
Agreement”, “hereunder”, “hereof”, “herein” or words of similar import shall mean and be a reference to the Credit Agreement as amended hereby. 
 5. Costs and Expenses. The Borrower hereby affirms its obligation under Section 9.6 of the Credit Agreement to reimburse the Agent for all
out-of-pocket expenses incurred by the Agent in connection with the preparation, negotiation, execution, delivery and distribution of this Amendment, including but not limited to the fees, charges and disbursements of attorneys for the Agent with
respect thereto. 
 6. Governing Law. This Agreement shall be construed in accordance with and governed by the internal laws of the
State of New York. 
 7. Headings. Section headings in this Amendment are included herein for convenience of reference only and shall
not constitute a part of this Amendment for any other purposes. 
 8. Counterparts. This Amendment may be executed in any number of
counterparts, each of which when so executed shall be deemed an original but all such counterparts shall constitute one and the same instrument. 
 [signature page follows] 
  

 - 3 - 

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

  

			
	 SEI INVESTMENTS COMPANY,
 as
Borrower

		
	By:	 	 /s/ Kathy Heilig

	Name:	 	Kathy Heilig
	Title:	 	Controller
	
	 JPMORGAN CHASE BANK, N.A.,
 as a Lender and
as Agent

		
	By:	 	 /s/ Jeanne O’Connell Horn

	Name:	 	Jeanne O’Connell Horn
	Title:	 	Vice President
	
	 WACHOVIA BANK, NATIONAL
 ASSOCIATION, as a
Lender

		
	By:	 	 /s/ Joan Anderson

	Name:	 	Joan Anderson
	Title:	 	Director
	
	 BANK OF AMERICA, N.A.,
 as a
Lender

		
	By:	 	 /s/ Joshua A. Podietz

	Name:	 	Joshua A. Podietz
	Title:	 	Vice President
	
	 MANUFACTURERS AND TRADERS TRUST
 COMPANY, as
a Lender

		
	By:	 	 /s/ Joshua C. Becker

	Name:	 	Joshua C. Becker
	Title:	 	Vice President

  

 - 4 - 

			
	PNC BANK, NATIONAL ASSOCIATION,
	as a Lender
		
	By:	 	 /s/ Meredith Jermann

	Name:	 	Meredith Jermann
	Title:	 	Vice President
	
	 BANK HAPOALIM B.M.,
 as a
Lender

		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	 SOVEREIGN BANK,
 as a
Lender

		
	 By:
	 	 /s/ Steven Fahringer

	Name:	 	Steven Fahringer
	Title:	 	Vice President
	
	 U.S. BANK, N.A.,
 as a
Lender

		
	By:	 	 /s/ David J. Dannemiller

	Name:	 	David J. Dannemiller
	Title:	 	Vice President

  

 - 5 - 

 EXHIBIT A 
 REAFFIRMATION OF GUARANTY 
 Each of the undersigned acknowledges receipt of a copy of
Amendment No. 2 of the Credit Agreement (the “Amendment”) dated as of July 7, 2006, consents to such amendment and each of the transactions referenced therein and hereby reaffirms its obligations under the Guaranty dated as of
September 14, 2004 in favor of JPMorgan Chase Bank, N.A., as Agent, and the Lenders (as defined in the Amendment). 
 Dated as of July 7, 2006 
  

			
	 SEI INVESTMENTS MANAGEMENT
 CORPORATION, as a
Guarantor

		
	By:	 	 /s/ Kathy Heilig

	Name:	 	Kathy Heilig
	Title:	 	Treasurer
	
	 SEI INVESTMENTS MANAGEMENT
 CORPORATION II,
as a Guarantor

		
	By:	 	 /s/ Kathy Heilig

	Name:	 	Kathy Heilig
	Title:	 	Treasurer
	
	 SEI GLOBAL SERVICES, INC.,
 as a
Guarantor

		
	By:	 	 /s/ Kathy Heilig

	Name:	 	Kathy Heilig
	Title:	 	Treasurer
	
	 SEI FUNDS, INC.,
 as a
Guarantor

		
	By:	 	 /s/ Kathy Heilig

	Name:	 	Kathy Heilig
	Title:	 	Treasurer

  

 - 6 -Amendment No. 2 to Amended and Restated Credit Agreement

 Exhibit 4.1 
  
 AMENDMENT NO. 2 
 TO 

AMENDED AND RESTATED CREDIT AGREEMENT 
 THIS AMENDMENT NO. 2 TO AMENDED AND RESTATED CREDIT AGREEMENT (the “Amendment”) is made as of May 1, 2006 by and among Actuant Corporation, a Wisconsin corporation (the “Borrower”), the financial
institutions listed on the signature pages hereto and JPMorgan Chase Bank, National Association (successor by merger to Bank One, NA (Illinois)), as the administrative agent for the “Lenders” referred to below (the
“Agent”). Capitalized terms used but not otherwise defined herein shall have the respective meanings given to them in the “Credit Agreement” referred to below. 
 WITNESSETH: 
 WHEREAS, the signatories hereto are parties to that certain
Amended and Restated Credit Agreement, dated as of December 22, 2004, among the Borrower, the financial institutions from time to time parties thereto (the “Lenders”) and the Agent (as amended by Amendment No. 1 thereto
dated as of July 15, 2005, the “Credit Agreement”); 
 WHEREAS, the parties hereto have agreed to amend the Credit
Agreement on the terms and conditions set forth herein; 
 NOW, THEREFORE, in consideration of the premises set forth above, the terms and
conditions contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, the Lenders and the Agent have agreed to the following amendment to the Credit Agreement. 

1. Amendments. Effective as of the date hereof and subject to the satisfaction of the conditions precedent set forth in
Section 2 below, the Credit Agreement is hereby amended as follows: 
 (a) The Pricing Schedule to the Credit
Agreement is hereby amended and restated in its entirety in the form attached as Annex I hereto. 
 2. Conditions of
Effectiveness. This Amendment shall become effective as of the date hereof if, and only if, the Agent shall have received: (a) executed copies of this Amendment from the Borrower and each of the Lenders, (b) executed copies of the
Reaffirmation attached hereto in the form of Exhibit A from each existing Guarantor and Pledgor and (c) all fees agreed to be paid by the Borrower in connection with this Amendment. 
 3. Representations and Warranties of the Borrower. The Borrower hereby represents and warrants as follows: 
 (a) The Borrower has the power and authority and legal right to execute and deliver this Amendment and to perform its obligations
hereunder and under the Credit 

  

 1 

 
Agreement (as modified hereby). The execution and delivery by the Borrower of this Amendment and the performance of its obligations hereunder and under the
Credit Agreement (as modified hereby) has been duly authorized by proper corporate proceedings, and this Amendment and the Credit Agreement (as modified hereby) constitute legal, valid and binding obligations of the Borrower enforceable against the
Borrower in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally. 
 (b) Neither the execution and delivery by the Borrower of this Amendment, nor the consummation of the transactions contemplated herein or
in the Credit Agreement (as modified hereby), nor compliance with the provisions hereof or thereof will violate (i) any law, rule, regulation, order, writ, judgment, injunction, decree or award binding on the Borrower or (ii) the
Borrower’s articles or certificate of incorporation or by-laws, or (iii) the provisions of any indenture, instrument or agreement to which the Borrower is a party or is subject, or by which it, or its Property, is bound, or conflict with
or constitute a default thereunder, or result in, or require, the creation or imposition of any Lien in, of or on the Property of the Borrower pursuant to the terms of any such indenture, instrument or agreement. 
 (c) No order, consent, adjudication, approval, license, authorization, or validation of, or filing, recording or registration with, or
exemption by, or other action in respect of any governmental or public body or authority, or any subdivision thereof, which has not been obtained by the Borrower, is required to be obtained by the Borrower in connection with the execution and
delivery of this Amendment or the legality, validity, binding effect or enforceability of the Credit Agreement (as modified hereby). 
 (d) As of the date hereof and giving effect to the terms of this Amendment, (i) there exists no Default or Unmatured Default and (ii) the representations and warranties contained in Article V of the Credit Agreement (as
modified hereby) are true and correct except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty shall have been true and correct on and as of such earlier
date. 
 4. Reference to and Effect on the Credit Agreement and Loan Documents. 
 (a) Upon the effectiveness of Section 1 hereof, each reference to the Credit Agreement in the Credit Agreement or any other
Loan Document shall mean and be a reference to the Credit Agreement as modified hereby. This Amendment is a Loan Document pursuant to the Credit Agreement and shall (unless expressly indicated otherwise herein or therein) be construed, administered,
and applied, in accordance with all of the terms and provisions of the Credit Agreement. 
 (b) The Borrower (i) agrees
that this Amendment and the transactions contemplated hereby shall not limit or diminish the obligations of the Borrower arising under or pursuant to the Credit Agreement and the other Loan Documents to which it is a party, (ii) reaffirms its
obligations under the Credit Agreement and each and every other Loan Document to which it is a party (including, without limitation, each applicable 

  

 2 

 
Collateral Document), (iii) reaffirms all Liens on any collateral (including the Pledged Collateral) which have been granted by it in favor of the Agent
(for itself, the Lenders and the other holders of Secured Obligations) pursuant to any of the Loan Documents, and (iv) acknowledges and agrees that except as specifically modified above, the Credit Agreement and all other Loan Documents
executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed. 
 (c) 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 Agent or the Lenders, nor constitute a waiver of or consent to any
provision of the Credit Agreement or any other Loan Documents executed and/or delivered in connection therewith. 
 5. Governing
Law. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (INCLUDING, WITHOUT LIMITATION, 735 ILCS SECTION 105/5-1 ET SEQ., BUT OTHERWISE WITHOUT REGARD TO THE CONFLICT OF LAWS PROVISIONS) OF THE STATE OF ILLINOIS, BUT GIVING
EFFECT TO FEDERAL LAWS APPLICABLE TO NATIONAL BANKS. 
 6. Headings. Section headings in this Amendment are included herein
for convenience of reference only and shall not constitute a part of this Amendment for any other purpose. 
 7. Counterparts.
This Amendment may be executed by one or more of the parties hereto on any number of separate counterparts (including by means of facsimile transmission), and all of said counterparts taken together shall be deemed to constitute one and the same
instrument. 
  

 3 

 IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above written.

  

			
	ACTUANT CORPORATION,
	 as the Borrower and a Pledgor

		
	By:	 	  
	 Name:
	 	
	 Title:
	 	
	
	JPMORGAN CHASE BANK, NATIONAL ASSOCIATION (successor by merger to Bank One, NA (Illinois)),
	 as a Lender and as Agent

		
	By:	 	  
	 Name:
	 	
	 Title:
	 	
	
	WACHOVIA BANK, NATIONAL ASSOCIATION,
	 as a Lender

		
	By:	 	  
	 Name:
	 	
	 Title:
	 	
	
	U.S. BANK, NATIONAL ASSOCIATION,
	 as a Lender

		
	By:	 	  
	 Name:
	 	
	 Title:
	 	
	
	BANK OF AMERICA, N.A.,
	 as a Lender

		
	By:	 	  
	 Name:
	 	
	 Title:
	 	

 Signature Page to Amendment No. 2 to Credit Agreement 

			
	HARRIS N.A.,
	 as a Lender

		
	By:	 	  
	 Name:
	 	
	 Title:
	 	
	
	M&I MARSHALL & ILSLEY BANK,
	 as a Lender

		
	By:	 	  
	 Name:
	 	
	 Title:
	 	
	
	LASALLE BANK NATIONAL ASSOCIATION,
	 as a Lender

		
	By:	 	  
	 Name:
	 	
	 Title:
	 	
	
	NATIONAL CITY BANK OF THE MIDWEST,
	 as a Lender

		
	By:	 	  
	 Name:
	 	
	 Title:
	 	
	
	CREDIT INDUSTRIEL ET COMMERCIAL,
	 as a Lender

		
	By:	 	  
	 Name:
	 	
	 Title:
	 	

 Signature Page to Amendment No. 2 to Credit Agreement 

			
	ASSOCIATED BANK, N.A.,
	as a Lender
		
	By:	 	  
	 Name:
	 	
	 Title:
	 	
	
	MIZUHO CORPORATE BANK, LTD.,
	as a Lender
		
	By:	 	  
	 Name:
	 	
	 Title:
	 	
	
	UBS LOAN FINANCE LLC,
	as a Lender
		
	By:	 	  
	 Name:
	 	
	 Title:
	 	

 Signature Page to Amendment No. 2 to Credit Agreement 

 ANNEX I 
 AMENDED AND RESTATED PRICING SCHEDULE 
 PRICING SCHEDULE 
  

																
	 APPLICABLE MARGIN
	  	 LEVEL I
 STATUS
	 	 	LEVEL II
STATUS	 	 	LEVEL III
STATUS	 	 	LEVEL IV
STATUS	 	 	 LEVEL V
 STATUS
	 
	Eurodollar Rate for Revolving Loans	  	0.625	%	 	0.75	%	 	0.875	%	 	1.00	%	 	1.25	%
	Eurodollar Rate for Term Loans	  	0.625	%	 	0.75	%	 	0.875	%	 	1.00	%	 	1.25	%
	Floating Rate for Revolving Loans	  	0	%	 	0	%	 	0	%	 	0	%	 	0	%
	Floating Rate for Term Loans	  	0	%	 	0	%	 	0	%	 	0	%	 	0	%
						
	 APPLICABLE FEE RATE
	  	 LEVEL I
 STATUS
	 	 	LEVEL II
STATUS	 	 	LEVEL III
STATUS	 	 	LEVEL IV
STATUS	 	 	 LEVEL V
 STATUS
	 
	Letter of Credit Fee	  	0.625	%	 	0.75	%	 	0.875	%	 	1.00	%	 	1.25	%
	Commitment Fee	  	0.125	%	 	0.15	%	 	0.175	%	 	0.20	%	 	0.25	%

 For the purposes of this Schedule, the following terms have the following meanings, subject to the
final paragraph of this Schedule: 
 “Financials” means the annual or quarterly financial statements of the Borrower delivered
pursuant to Section 6.1(i) or (ii). 
 “Level I Status” exists at any date if, as of the last day of the fiscal quarter of the
Borrower referred to in the most recent Financials, the Leverage Ratio is less than or equal to 1.50 to 1.00. 
 “Level II Status”
exists at any date if, as of the last day of the fiscal quarter of the Borrower referred to in the most recent Financials, (i) the Borrower has not qualified for Level I Status and (ii) the Leverage Ratio is less than, or equal to 2.00 to
1.00. 

 “Level III Status” exists at any date if, as of the last day of the fiscal quarter of the
Borrower referred to in the most recent Financials, (i) the Borrower has not qualified for Level I Status or Level II Status and (ii) the Leverage Ratio is less than or equal to 2.50 to 1.00. 
 “Level IV Status” exists at any date if, as of the last day of the fiscal quarter of the Borrower referred to in the most recent Financials,
(i) the Borrower has not qualified for Level I Status, Level II Status or Level III Status and (ii) the Leverage Ratio is less than or equal to 3.00 to 1.00. 
 “Level V Status” exists at any date if the Borrower has not qualified for Level I Status, Level II Status, Level III Status or Level IV Status. 
 “Status” means Level I Status, Level II Status, Level III Status, Level IV Status or Level V Status. 
 The Applicable Margins and Applicable Fee Rates shall be determined in accordance with the foregoing table based on the Borrower’s Status as
reflected in the then most recent Financials. Adjustments, if any, to the Applicable Margins or Applicable Fee Rates shall be effective five Business Days after the Agent has received the applicable Financials. If the Borrower fails to deliver the
Financials to the Agent at the time required pursuant to Section 6.1, then the Applicable Margins and Applicable Fee Rates shall be the highest Applicable Margins and Applicable Fee Rates set forth in the foregoing table until five days after
such Financials are so delivered. Notwithstanding the foregoing, for the period commencing with the Effective Date until the applicable Financials have been delivered for the fiscal quarter ending on February 28, 2005, the Applicable Margins
and Applicable Fee Rates shall be determined based on the Borrower’s Status as reflected in the Opening Pro Forma Compliance Certificate.

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