Document:

exv4w1

 

Exhibit 4.1

SECOND AMENDMENT TO CREDIT AGREEMENT

     THIS SECOND AMENDMENT, dated as of August 31, 2007, amends and modifies a certain Credit
Agreement, dated as of September 1, 2006 as amended by an Amendment dated as of April 13, 2007 (as
so amended, the “Credit Agreement”), between OTTER TAIL CORPORATION, dba OTTER TAIL POWER COMPANY,
a Minnesota corporation (the “Borrower”) and U.S. BANK NATIONAL ASSOCIATION (the “Bank”). Terms
not otherwise expressly defined herein shall have the meanings set forth in the Credit Agreement.

     FOR VALUE RECEIVED, the Borrower and the Bank agree that the Credit Agreement is amended as
follows.

ARTICLE I — AMENDMENTS TO THE CREDIT AGREEMENT

     1.1 Commitment. The definition of “Commitment” in Section 1.1 is amended to read as
follows:

     “‘Commitment’ means the maximum unpaid principal amount of the Loans which may
from time to time be outstanding hereunder, being initially $25,000,000, thereafter
increased to $50,000,000, and being increased to $75,000,000 on and after effectiveness of
the Second Amendment hereof, as the same may be reduced from time to time pursuant to
Section 4.3, and, as the context may require, the agreement of the Bank to make
Loans to the Borrower subject to the terms and conditions of this Agreement up to its
Commitment.”

     1.2 Termination Date. The definition of “Termination Date” in Section 1.1 is amended
by deleting “September 1, 2007” and inserting “September 1, 2008” in place thereof

     1.3 Published LIBOR. References to “ Telerate Page 3750” in Section 3.1(b) and (c)
are changed to “Reuters Screen LIBOR01 Page.”

     1.4 Note. A promissory note in the amount of the Commitment, as amended hereby,
shall be executed and delivered by the Borrower and shall be and constitute the “Note” for purposes
of all references thereto in the Credit Agreement.

     1.5 Construction. All references in the Credit Agreement to “this Agreement”,
“herein” and similar references shall be deemed to refer to the Credit Agreement as amended by this
Amendment.

ARTICLE II — REPRESENTATIONS AND WARRANTIES

     To induce the Bank to enter into this Amendment and to make and maintain the Loans under the
Credit Agreement as amended hereby, the Borrower hereby warrants and represents to the Bank that it is duly authorized to execute and deliver this Amendment, and to
perform its

 

 

obligations under the Credit Agreement as amended hereby, and that this Amendment constitutes
the legal, valid and binding obligation of the Borrower, enforceable in accordance with its terms.

ARTICLE III — CONDITIONS PRECEDENT

     This Amendment shall become effective on the date first set forth above, provided, however,
that the effectiveness of this Amendment is subject to the satisfaction of each of the following
conditions precedent:

     3.1 Warranties. Before and after giving effect to this Amendment, the representations
and warranties in Article VI of the Credit Agreement shall be true and correct as though
made on the date hereof, except for changes that are permitted by the terms of the Credit
Agreement. The execution by the Borrower of this Amendment shall be deemed a representation that
the Borrower has complied with the foregoing condition.

     3.2 Defaults. Before and after giving effect to this Amendment, no Default and no
Event of Default shall have occurred and be continuing under the Credit Agreement. The execution
by the Borrower of this Amendment shall be deemed a representation that the Borrower has complied
with the foregoing condition.

     3.3 Documents and Fees. The Borrower shall have executed and delivered this Amendment
and the Note in the form provided by the Bank, and shall have paid the Bank a non-refundable fee of
$45,000.

ARTICLE IV — GENERAL

     4.1 Expenses. The Borrower agrees to reimburse the Bank upon demand for all
reasonable expenses (including reasonable attorneys’ fees and legal expenses) incurred by this Bank
in the preparation, negotiation and execution of this Amendment and any other document required to
be furnished herewith, and in enforcing the obligations of the Borrower hereunder, and to pay and
save the Bank harmless from all liability for, any stamp or other taxes which may be payable with
respect to the execution or delivery of this Amendment or the issuance of the Note hereunder, which
obligations of the Borrower shall survive any termination of the Credit Agreement.

     4.2 Counterparts. This Amendment may be executed in as many counterparts as may be
deemed necessary or convenient, and by the different parties hereto on separate counterparts, each
of which, when so executed, shall be deemed an original but all such counterparts shall constitute
but one and the same instrument.

     4.3 Severability. Any provision of this Amendment which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining portions hereof or
affecting the validity or enforceability of such provisions in any other jurisdiction.

     4.4 Law; Consent to Jurisdiction; Waiver of Jury Trial. This Amendment shall be a
contract made under the laws of the State of Minnesota, which laws shall govern all the rights and
duties hereunder. This Amendment shall be subject to the Consent to Jurisdiction and Waiver of
Jury Trial provisions of the Credit Agreement.

 

 

     4.5 Successors; Enforceability. This Amendment shall be binding upon the Borrower and
the Bank and their respective successors and assigns, and shall inure to the benefit of the
Borrower and the Bank and the successors and assigns of the Bank. Except as hereby amended, the
Credit Agreement shall remain in full force and effect and is hereby ratified and confirmed in all
respects.

     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed at
Minneapolis, Minnesota by their respective officers thereunto duly authorized as of the date first
written above.

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	U.S. BANK NATIONAL ASSOCIATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Delton D. Steele
 

	 	 
	 

	 	 	 	Delton D. Steele	 	 
	 

	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	OTTER TAIL CORPORATION, dba	 	 
	 	 	OTTER TAIL POWER COMPANY	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Kevin G. Moug	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Kevin G. Moug	 	 
	 

	 	Title:
	 	Chief Financial Officer	 	 

 

 

CERTIFICATE

     I, George Koeck, do hereby certify that I am the duly elected and qualified Corporate
Secretary of OTTER TAIL CORPORATION, a corporation organized and existing under the laws of the
State of Minnesota. At a meeting of the Board of Directors thereof, convened and held on August 6,
2007, in accordance with the law and the by-laws of the Corporation the Board of Directors reviewed
the terms of Amendment to that certain Credit Agreement, dated as of September 1, 2006 (the “Credit
Agreement”), between the Corporation and U.S. Bank National Association (the “Bank”).

     Upon that review, the Board of Directors authorized that any one of John D. Erickson, Lauris
N. Molbert, Kevin G. Moug or George Koeck (Executive Officers) of the Corporation to execute, in
the name and on behalf of the Corporation, and deliver to the Bank an Amendment between the
Corporation and the Bank, and any promissory note or other instrument, document or agreement
required by the Bank in connection with such Amendment.

     The Executive Officers were also authorized to borrow from time to time under the Credit
Agreement as amended by the Amendment, to agree to rates of interest and other terms of loans, to
repay all amounts so borrowed and to take such action from time to time on behalf of the
Corporation as may be necessary, advisable or proper in order to carry out and perform the
obligations of the Corporation under the Credit Agreement as amended by the Amendment and all
related instruments, documents and agreements.

     I FURTHER CERTIFY THAT the following persons have been elected and are now acting as officers
of the Corporation in the capacity set before their respective names:

	 	 	 	 	 
	TITLE	 	NAME	 	SIGNATURE
	 
	 	 	 	 
	CEO & President

	 	John D. Erickson
	 	/s/ John D. Erickson
	 

	 	 	 	 
	COO & Executive VP

	 	Lauris N. Molbert
	 	/s/ Lauris N. Molbert
	 

	 	 	 	 
	CFO & Treasurer

	 	Kevin G. Moug
	 	/s/ Kevin G. Moug
	 

	 	 	 	 
	General Counsel & Corp. Sec.

	 	George Koeck
	 	/s/ George Koeck
	 

	 	 	 	 

     IN WITNESS WHEREOF, I have subscribed my name as Corporate Secretary of the Corporation as of
this 31st day of August, 2007.

	 	 	 	 	 
	 	 	 
	 	/s/ George Koeck
 	 
	 	George Koeck, Corporate Secretary 	 
	 	OTTER TAIL CORPORATION, dba

OTTER TAIL POWER COMPANY 	 
	 

 

 

PROMISSORY NOTE

			
	$75,000,000
	 	Minneapolis, Minnesota: August 31, 2007

     FOR VALUE RECEIVED, the undersigned OTTER TAIL CORPORATION, dba OTTER TAIL POWER COMPANY, a
Minnesota corporation (the “Borrower”), promises to pay to the order of U.S. BANK NATIONAL
ASSOCIATION (the “Bank”), on the Termination Date, or other due date or dates determined under the
Credit Agreement hereinafter referred to, the principal sum of SEVENTY FIVE MILLION DOLLARS
($75,000,000), or if less, the then aggregate unpaid principal amount of the Loans (as such terms
are defined in the Credit Agreement) as may be borrowed by the Borrower from the Bank under the
Credit Agreement. All Loans and all payments of principal shall be recorded by the holder in its
records which records shall be conclusive evidence of the subject matter thereof, absent manifest
error.

     The Borrower further promises to pay to the order of the Bank interest on the aggregate unpaid
principal amount hereof from time to time outstanding from the date hereof until paid in full at
the rates per annum which shall be determined in accordance with the provisions of the Credit
Agreement. Accrued interest shall be payable on the dates specified in the Credit Agreement.

     All payments of principal and interest under this Note shall be made in lawful money of the
United States of America in immediately available funds at the office of the Bank, at 800 Nicollet
Mall, Minneapolis, Minnesota 55402, or at such other place as may be designated by the Bank to the
Borrower in writing.

     This Note is the Note referred to in, and evidences indebtedness incurred under, a Credit
Agreement dated as of September 1, 2006 (herein, as it may be amended, modified or supplemented
from time to time, called the “Credit Agreement”) between the Borrower and the Bank, to which
Credit Agreement reference is made for a statement of the terms and provisions thereof, including
those under which the Borrower is permitted and required to make prepayments and repayments of
principal of such indebtedness and under which such indebtedness may be declared to be immediately
due and payable.

     All parties hereto, whether as makers, endorsers or otherwise, severally waive presentment,
demand, protest and notice of dishonor in connection with this Note.

     This Note replaces and supersedes, and may evidence indebtedness formerly evidenced by, a
promissory note of the Borrower dated as of April 13, 2007 in the principal amount of $50,000,000.
Delivery and acceptance of this Note shall not evidence repayment of such indebtedness.

Page 1 of 2

 

 

     This Note is made under and governed by the internal laws of the State of Minnesota.

	 	 	 	 	 	 	 
	 	 	OTTER TAIL CORPORATION, dba	 	 
	 	 	OTTER TAIL POWER COMPANY	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Kevin G. Moug
 

	 	 
	 

	 	 	 	Kevin G. Moug	 	 
	 

	 	Title:
	 	Chief Financial OfficerEx-10.1

 

EXHIBIT 10.1

FIRST AMENDMENT TO CREDIT AGREEMENT

     THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “Agreement”) is made and
entered into as of September 5, 2007, by and between CORRECTIONS CORPORATION OF AMERICA, a Maryland
corporation (the “Borrower”), and WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking
association, as administrative agent (the “Administrative Agent”) on behalf of the lenders
party to the Credit Agreement referred to below (the “Lenders”).

Statement of Purpose

     The Borrower, the Lenders and the Administrative Agent are parties to the Credit Agreement
dated as of February 3, 2006 (as amended, restated, supplemented or otherwise modified, the
“Credit Agreement”).

     The Borrower has delivered to the Administrative Agent an Incremental Revolving Credit
Commitment Notification requesting an increase in the Revolving Credit Commitment pursuant to
Section 2.7 of the Credit Agreement in the principal amount of $100,000,000, and certain of
the Lenders have collectively agreed to provide such increase. This Agreement is being executed
pursuant to the terms of Section 2.7(d) of the Credit Agreement.

     NOW THEREFORE, for good and valuable consideration, the receipt and adequacy of which is
hereby acknowledged, the parties hereto agree as follows:

     SECTION 1. Definitions. All capitalized, undefined terms used in this Agreement shall
have the meanings assigned thereto in the Credit Agreement.

     SECTION 2. Increase in the Revolving Credit Commitment.

     (a) Pursuant to Section 2.7 of the Credit Agreement, the aggregate principal amount of
the Revolving Credit Commitment has been increased from $150,000,000 to $250,000,000 (the
“Commitment Increase”). The Incremental Revolving Credit Commitment Effective Date for the
Commitment Increase shall be September 5, 2007.

     (b) Effective on the Incremental Revolving Credit Commitment Effective Date, the Revolving
Credit Commitments and Revolving Credit Commitment Percentages of each Lender under the Credit
Agreement shall be adjusted as set forth on the Register.

     (c) The outstanding Revolving Credit Loans and Revolving Credit Commitment Percentages of L/C
Obligations will be reallocated by the Administrative Agent on the Incremental Revolving Credit
Commitment Effective Date among the Lenders in accordance with their revised Revolving Credit
Commitment Percentages and the Lenders will make all payments and adjustments necessary to effect
such reallocation.

     SECTION 3. Effectiveness. This Agreement shall be deemed to be effective on the date
hereof upon the satisfaction of each of the following conditions:

1

 

     (a) The Administrative Agent shall have received this Agreement, executed and delivered
by the Borrower and the Administrative Agent,

     (b) The Administrative Agent shall have received, in form and substance reasonably
satisfactory thereto, an executed Officer’s Compliance Certificate dated as of the date
hereof demonstrating pro forma compliance with each of the covenants
contained in Article IX of the Credit Agreement after giving effect to the
Commitment Increase and any Extensions of Credit made or to be made on the date hereof, and

     (c) The Administrative Agent shall have received additional commitments from existing
Lenders and/or new Lenders in an aggregate amount equal to the Commitment Increase.

     SECTION 4. Effect of Agreement. Except as expressly provided herein, the Credit
Agreement (as amended hereby) and the other Loan Documents shall remain in full force and effect.
This Agreement shall not be deemed (a) to be a waiver of, or consent to, or a modification or
amendment of, any term or condition of the Credit Agreement other than as expressly contemplated
hereby or any other Loan Document or (b) to be a waiver of, or consent to, a modification or
amendment to any term or provision of any Loan Document specifically consented to, waived, amended
or modified by this Agreement on any other occasion. References in the Credit Agreement to “this
Agreement” (and indirect references such as “hereunder”, “hereby”, “herein”, and “hereof”) and in
any Loan Document to such Credit Agreement shall be deemed to be references to such Credit
Agreement as modified hereby.

     SECTION 5. Representations and Warranties/No Default.

     (a) By its execution hereof, the Borrower hereby certifies that (i) each of the
representations and warranties set forth in the Credit Agreement and the other Loan Documents
(after giving effect to this Agreement and the transactions contemplated hereby) is true and
correct as of the date hereof as if fully set forth herein, except for any representation and
warranty made as of an earlier date, which representation and warranty shall remain true and
correct as of such earlier date; and (ii) no Default or Event of Default has occurred and is
continuing as of the date hereof after giving effect to this Agreement or the transactions
contemplated hereby.

     (b) By its execution hereof, the Borrower hereby represents and warrants that it has the
right, power and authority and has taken all necessary corporate and company action to authorize
the execution, delivery and performance of this Agreement and each other document executed in
connection herewith to which it is a party in accordance with their respective terms.

     SECTION 6. Governing Law. This Agreement shall be governed by, construed and enforced
in accordance with the laws of the State of New York, without reference to the conflicts of law
principles thereof.

     SECTION 7. Counterparts. This Agreement may be executed in any number of counterparts
and by different parties hereto in separate counterparts, each of which when so executed

2

 

shall be deemed to be an original and shall be binding upon all parties, their successors and
assigns, and all of which taken together constitute one and the same agreement.

     SECTION 8. Electronic Transmission. A facsimile, telecopy or other reproduction of
this Agreement may be executed by one or more parties hereto, and an executed copy of this
Agreement may be delivered by one or more parties hereto by facsimile or similar electronic
transmission method pursuant to which the signature of or on behalf of such party can be seen, and
such execution and delivery shall be considered valid, binding and effective for all purposes. At
the request of any party hereto, all parties hereto agree to execute an original of this Agreement
as well as any facsimile, telecopy or other reproduction hereof.

[Signature Pages Follow]

3

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the
date and year first above written.

	 	 	 	 	 
	 	BORROWER: 

CORRECTIONS CORPORATION OF AMERICA

 	 
	 	By:  	/s/ Todd J. Mullenger
 	 
	 	 	Name:  	Todd J. Mullenger 	 
	 	 	Title:  	Executive Vice President, Chief
Financial Officer and Treasurer 	 

 

	 	 	 	 	 

	 	 	 	 	 
	 	ADMINISTRATIVE AGENT:

WACHOVIA BANK, NATIONAL ASSOCIATION,

as Administrative Agent, on behalf of itself and the

other Lenders

 	 
	 	By:  	/s/ 
Robert Sevin	 
	 	 	Name: Robert Sevin 	 	 
	 	 	Title:  Director

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]