Document:

amendment.htm

Exhibit 10.31

 

[EXECUTION COPY]

 

FIRST AMENDMENT TO

 

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

This FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT, dated as of February [__], 2011 (this “Amendment”), modifies that certain Second Amended and Restated Credit Agreement, dated as of September 30, 2010 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”), among DENNY’S, INC., a California corporation (“Denny’s”), DENNY’S REALTY, LLC, a Delaware limited liability company (“Denny’s Realty” and, together with Denny’s, collectively, the “Borrowers” and each, individually, a “Borrower”), DENNY’S CORPORATION, a Delaware corporation (“Parent”), DENNY’S HOLDINGS, INC., a New York corporation (“Denny’s Holdings”) which was merged with and into Parent on November 23, 2010, DFO, LLC, a Delaware limited liability company (“DFO”), each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), and BANK OF AMERICA, N.A., as Administrative Agent and L/C Issuer.  Capitalized terms used herein and not defined shall have the meaning assigned to such terms in the Credit Agreement.

 

RECITALS

 

WHEREAS, the Borrowers have requested that the Administrative Agent and the Lenders agree to amend certain of the terms and provisions of the Credit Agreement, as specifically set forth in this Amendment; and

 

WHEREAS, the Administrative Agent and each of the Lenders are prepared to amend the Credit Agreement on the terms, subject to the conditions and in reliance on the representations set forth herein.

 

NOW THEREFORE, in consideration of the premises and other good and valuable consideration, the parties hereto hereby agree as follows:

 

Section 1. Amendments to Credit Agreement.

(a) Section 1.01 (Defined Terms) of the Credit Agreement is hereby amended by restating the following definitions in their entirety as follows:

“Applicable Rate” means a per annum rate equal to (a) with respect to Base Rate Loans, 2.75%, (b) with respect to Eurodollar Rate Loans and Letters of Credit, 3.75%; and (c) with respect to the commitment fee payable pursuant to Section 2.09(a), 0.625%.

 

“Eurodollar Rate” means:

 

(a) for any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum equal to (x) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or such other commercially available source providing quotations of BBA LIBOR as may be designated by the Administrative 

 

  

  

  

 

Agent from time to time) at approximately 11:00 a.m., London time, two London Banking Days prior to the commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period or, (y) if such rate is not available at such time for any reason, the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery on the first day of such Interest Period in same day funds in the approximate amount of the Eurodollar Rate Loan being made, continued or converted and with a term equivalent to such Interest Period would be offered by Bank of America’s London Branch to major banks in the London interbank eurodollar market at their request at approximately 11:00 a.m. (London time) two London Banking Days prior to the commencement of such Interest Period; and

 

(b) for any interest calculation with respect to a Base Rate Loan on any date, the rate per annum equal to (x) BBA LIBOR, at approximately 11:00 a.m., London time determined two London Banking Days prior to such date for Dollar deposits being delivered in the London interbank market for a term of one month commencing that day or (y) if such published rate is not available at such time for any reason, the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery on the date of determination in same day funds in the approximate amount of the Base Rate Loan being made or maintained and with a term equal to one month would be offered by Bank of America’s London Branch to major banks in the London interbank Eurodollar market at their request at the date and time of determination.

 

“Mortgaged Property” shall mean, initially, each parcel of real property and the improvements thereto owned by a Loan Party, which properties are set forth on Schedule 5.08(c) of the Disclosure Schedules, and includes each other parcel of real property and improvements thereto with respect to which a Mortgage is granted pursuant to Section 6.12 or Section 6.15.

(b) Section 1.01 (Defined Terms) of the Credit Agreement is hereby amended by inserting the following new definition in the appropriate alphabetical order:

“Documentation Agent” means Regions Bank in its capacity as documentation agent.

(c) Paragraph (a) of Section 2.08 (Interest) of the Credit Agreement is hereby amended by restating such paragraph in its entirety as follows:

(a) Subject to the provisions of Section 2.08(b), (i) each Eurodollar Rate Loan under the Revolving Credit Facility shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate; (ii) each Eurodollar Rate Loan under the Term Facility shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to (A) the higher of (x) the Eurodollar Rate for such Interest Period and (y) 

 

  

  

  

 

1.50% plus (B) the Applicable Rate; (iii) each Base Rate Loan under the Revolving Credit Facility shall bear interest on the outstanding principal amount thereof at a rate per annum equal to the Base Rate plus the Applicable Rate; and (iv) each Base Rate Loan under the Term Facility shall bear interest on the outstanding principal amount thereof at a rate per annum equal to (A) the higher of (x) the Base Rate and (y) 1.50% plus (B) the Applicable Rate.

(d) Section 6.05 (Preservation of Existence, Etc.) of the Credit Agreement is hereby amended by deleting the reference to “or 7.05” appearing in clause (a) of such Section 6.05.

(e) Sections 6.20 (Interest Rate Hedging) and 6.21 (Holdings) of the Credit Agreement are hereby deleted in their entirety:

(f) Clause (m) of Section 7.02 (Indebtedness) of the Credit Agreement is hereby amended by restating such clause in its entirety as follows:

(m) additional Indebtedness aggregating not more than $10,000,000 in principal amount at any one time outstanding.

(g) Clauses (g) and (h) of Section 7.03 (Investments) of the Credit Agreement are hereby amended by restating such clauses in their entirety as follows:

(g) additional Investments in an aggregate amount not to exceed $10,000,000 at any time outstanding after the Closing Date, provided that the aggregate amount of Investments made pursuant to this clause (g) in any single Person (including any franchisee) shall not exceed $1,000,000 at any time outstanding;

(h) additional Investments by the Loan Parties and their Subsidiaries so long as (i) the aggregate amount of (A) Investments made pursuant to this clause (h), (B) Restricted Payments made pursuant to Section 7.06(a)(v) and (C) Consolidated Capital Expenditures made pursuant to Section 7.12(b) shall not exceed $10,000,000 during the term of this Agreement, (ii) if such Investment shall be made with proceeds of Revolving Credit Borrowings in excess of $2,500,000, Parent shall be in pro forma compliance with each of the financial covenants set forth in Section 7.11 as of the Measurement Period most recently ended, and (iii) at the time of the making of such Investment and immediately after giving effect thereto, no Default or Event of Default shall have occurred and is continuing or would result therefrom;

(h) Section 9.08 (No Other Duties, Etc.) of the Credit Agreement is hereby amended by restating such clause in its entirety as follows:

9.08.No Other Duties, Etc.  Anything herein to the contrary notwithstanding, none of the Syndication Agent, Bookrunners, Arrangers or Documentation Agent (whether or not listed on the cover page hereof) shall have any powers, duties or 

 

  

  

  

 

responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender or the L/C Issuer hereunder.

 

Section 2. Conditions Precedent.  This Amendment shall become effective as of the date first written above (the “Effective Date”) upon the satisfaction of the following conditions precedent:

 

(a)  Documentation.  The Administrative Agent shall have received all of the following, in form and substance satisfactory to the Administrative Agent:

 

(i) a fully-executed and effective Amendment by the Borrowers, the Guarantors, the Administrative Agent and each of the Lenders; and

 

(ii) such additional documents, instruments and information as the Administrative Agent may reasonably request to effect the transactions contemplated hereby.

 

(b) No Default.  On the Effective Date and after giving effect to this Amendment, no event shall have occurred and be continuing that would constitute a Default or an Event of Default.

 

(c) Repricing Transaction Fee.  In accordance with Section 2.05(c) of the Credit Agreement, the Administrative Agent shall have received, for the account of each Term Lender, a fee in an amount equal to 1.00% of the aggregate amount of Term Loans held by such Term Lender on the Effective Date (such fees, collectively, the “Repricing Transaction Fee”).  Once paid, the Repricing Transaction Fee shall not be refundable for any reason whatsoever.

 

(d) Arrangement Fees etc.  Each Arranger and each Revolving Credit Lender shall have received such fees as may be separately agreed to in writing between such Person and the Borrowers.

 

Section 3. Denny’s Holdings.  Each of the parties hereto hereby acknowledge and agree that Denny’s Holdings was merged with and into Parent on November 23, 2010 and, as of such date, Denny’s Holdings ceased to be a separate Guarantor and a separate Loan Party under the Loan Documents.  For the avoidance of any doubt, from and after the date of the above-referenced merger of Denny’s Holdings, references to the Guarantors (or a Guarantor) and the Loan Parties (or a Loan Party) under the Credit Agreement and the other Loan Documents (including this Amendment) shall not include Denny’s Holdings.

Section 4. Representations and Warranties; Reaffirmation of Grant.  Each Loan Party hereby represents and warrants to Administrative Agent and the Lenders that, as of the date hereof and after giving effect to this Amendment, (a) all representations and warranties of the Loan Parties set forth in the Credit Agreement and in any other Loan Document are true and correct on and as of the date hereof to the same extent as though made on and as of such date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct on and as of 

 

  

  

  

 

such earlier date, (b) no Default or Event of Default has occurred and is continuing, (c) the Credit Agreement and all other Loan Documents are and remain legally valid, binding obligations of the Loan Parties party thereto, enforceable against each such Loan Party in accordance with their respective terms and (d) each of the Collateral Documents to which such Loan Party is a party and all of the Collateral described therein do and shall continue to secure the payment of all Obligations as set forth in such respective Collateral Documents.  Each Loan Party that is a party to the Guaranty and Collateral Agreement or any of the other Collateral Documents hereby reaffirms its grant of a security interest in the Collateral to the Administrative Agent for the ratable benefit of the Secured Parties, as collateral security for the prompt and complete payment and performance when due of the Obligations.

 

Section 5. Survival of Representations and Warranties.  All representations and warranties made in this Amendment or any other Loan Document shall survive the execution and delivery of this Amendment, and no investigation by the Administrative Agent or the Lenders shall affect the representations and warranties or the right of the Administrative Agent and the Lenders to rely upon them.

Section 6. Amendment as Loan Document.  This Amendment constitutes a “Loan Document” under the Credit Agreement.  Accordingly, it shall be an immediate Event of Default under the Credit Agreement if any Loan Party fails to perform, keep or observe any term, provision, condition, covenant or agreement contained in this Amendment or if any representation or warranty made by any Loan Party under or in connection with this Amendment shall have been untrue, false or misleading when made.

Section 7. Costs and Expenses.  The Borrowers shall pay on demand all reasonable out-of-pocket costs and expenses of the Administrative Agent (including the reasonable fees, charges and disbursements of counsel to the Administrative Agent) incurred in connection with the preparation, negotiation, execution and delivery of this Amendment.

Section 8. Governing Law.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO ANY CHOICE OR CONFLICT OF LAW PROVISION OR RULE THAT WOULD CAUSE THE APPLICATION OF THE DOMESTIC SUBSTANTIVE LAWS OF ANY OTHER STATE).

Section 9. Execution.  This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed hall be deemed to be an original and all of which taken together shall constitute one and the same agreement.  Delivery of an executed counterpart of a signature page to this Amendment by telecopier (or electronic mail (including in PDF format)) shall be effective as delivery of a manually executed counterpart of this Amendment.

Section 10. Limited Effect.  This Amendment relates only to the specific matters expressly covered herein, shall not be considered to be an amendment or waiver of any rights or remedies that the Administrative Agent or any Lender may have under the Credit 

 

  

  

  

 

Agreement, under any other Loan Document (except as expressly set forth herein) or under Law, and shall not be considered to create a course of dealing or to otherwise obligate in any respect the Administrative Agent or any Lender to execute similar or other amendments or waivers or grant any amendments or waivers under the same or similar or other circumstances in the future.

Section 11. Ratification by Guarantors.  Each of the Guarantors acknowledges that its consent to this Amendment is not required, but each of the undersigned nevertheless does hereby agree and consent to this Amendment and to the documents and agreements referred to herein.  Each of the Guarantors agrees and acknowledges that notwithstanding the effectiveness of this Amendment, such Guarantor’s obligations under the Loan Documents shall remain in full force and effect and nothing herein shall in any way limit such obligations, all of which are hereby ratified, confirmed and affirmed in all respects.  Each of the Guarantors hereby further acknowledges that the Borrowers, the Administrative Agent and any Lender may from time to time enter into any further amendments, modifications, terminations and/or amendments of any provisions of the Loan Documents without notice to or consent from such Guarantor and without affecting the validity or enforceability of such Guarantor’s obligations under the Loan Documents or giving rise to any reduction, limitation, impairment, discharge or termination of such Guarantor’s obligations under the Loan Documents.

[Remainder of page intentionally blank.]

 

 

  

  

  

 

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

 

BORROWERS:

 

DENNY’S, INC.

 

By:      /s/  Ross B. Nell   

Name: Ross B. Nell

Title:   Vice President, Tax and Treasurer

 

DENNY’S REALTY, LLC

 

By: DFO, LLC, its Sole Member

 

By: Denny’s Inc., its Sole Member

 

By:      /s/  Ross B. Nell   

Name: Ross B. Nell

Title:   Vice President, Tax and Treasurer

 

 

  

  

  

 

GUARANTORS:

 

DENNY’S CORPORATION

 

By:      /s/  Ross B. Nell   

Name: Ross B. Nell

Title:   Vice President, Tax and Treasurer

 

 

DFO, LLC

 

By: Denny’s Inc., its Sole Member

 

By:      /s/  Ross B. Nell   

Name: Ross B. Nell

Title:   Vice President, Tax and Treasurer

 

 

  

  

  

 

BANK OF AMERICA, as Administrative Agent, L/C Issuer and as a Lender

 

By:      /s/ John H. Schmidt     

Name: John H. Schmidt

Title:   Director

 

 

  

  

  

 

LENDERS (cont’d):

 

WELLS FARGO BANK, N.A., as a Lender

 

By:      /s/ Stephen A. Leon     

Name: Stephen A. Leon

Title:   Managing Director

 

 

 

  

  

  

 

LENDERS (cont’d):

 

REGIONS FINANCIAL CORPORATION

 

By:      /s/ Daniel R. Holland     

Name: Daniel R. Holland

Title:   Managing Director

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Cent CDO 14 Limited

By: Columbia Management Investment Advisers, LLC

As Collateral Manager

 

By:      /s/ Robin C. Stancil     

Name: Robin C. Stancil

Title:   Director of Operations

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Cent CDO 15 Limited

By: Columbia Management Investment Advisers, LLC

As Collateral Manager

 

By:      /s/ Robin C. Stancil     

Name: Robin C. Stancil

Title:   Assistant Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Cent CDO XI Limited

By: Columbia Management Investment Advisers, LLC

As Collateral Manager

 

By:      /s/ Robin C. Stancil     

Name: Robin C. Stancil

Title:   Director of Operations

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Cent CDO 8 Limited

By: Columbia Management Investment Advisers, LLC

As Collateral Manager

 

By:      /s/ Robin C. Stancil     

Name: Robin C. Stancil

Title:   Director of Operations

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Cent CDO 9 Limited

By: Columbia Management Investment Advisers, LLC

As Collateral Manager

 

By:      /s/ Robin C. Stancil     

Name: Robin C. Stancil

Title:   Director of Operations

 

 

 

  

  

  

 

 

LENDERS (cont’d):

 

AMMC CLO IV, LIMITED

By: American Money Management Corp.,

       as Collateral Manager

By:      /s/ Chester M. Eng     

Name: Chester M. Eng

Title:   Senior Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

AMMC CLO V, LIMITED

By: American Money Management Corp.,

       as Collateral Manager

 

By:      /s/ Chester M. Eng     

Name: Chester M. Eng

Title:   Senior Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

AMMC CLO VI, LIMITED

By: American Money Management Corp.,

       as Collateral Manager

 

By:      /s/ Chester M. Eng     

Name: Chester M. Eng

Title:   Senior Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

AMMC VII, LIMITED

By: American Money Management Corp.,

       as Collateral Manager

 

By:      /s/ Chester M. Eng     

Name: Chester M. Eng

Title:   Senior Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

AMMC VIII, LIMITED

By: American Money Management Corp.,

       as Collateral Manager

 

By:      /s/ Chester M. Eng    

Name: Chester M. Eng

Title:   Senior Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

BALLANTYNE FUNDING LLC

 

By:      /s/ Tara E. Kenny     

Name: Tara E. Kenny

Title:   Assistant Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

BANK OF AMERICA, N.A., 

 

By:      /s/ Meredith R. Smith     

Name: Meredith R. Smith

Title:   Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Black Diamond CLO 2005-1 LTD.

By: Black Diamond CLO 2005-1 Adviser, L.L.C.,

As Its Collateral Manager

 

By:      /s/ Stephen H. Deckoff     

Name: Stephen H. Deckoff

Title:   Managing Principal

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Black Diamond CLO 2005-2 LTD.

By: Black Diamond CLO 2005-2 Adviser, L.L.C.,

As Its Collateral Manager

 

By:      /s/ Stephen H. Deckoff    

Name: Stephen H. Deckoff

Title:   Managing Principal

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Black Diamond CLO 2006-1 (CAYMAN) LTD.

By: Black Diamond CLO 2006-1 Adviser, L.L.C.,

As Its Collateral Manager

 

By:      /s/ Stephen H. Deckoff    

Name: Stephen H. Deckoff

Title:   Managing Principal

 

 

 

  

  

  

 

LENDERS (cont’d):

 

BATTALION CLO 2007-1, LTD.

By: BRIGADE CAPITAL MANAGEMENT LLC

As Collateral Manager

 

By:      /s/ Ben Pollack     

Name: Ben Pollack

Title:   Associate

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Camulos Loan Vehicle I, Ltd.

By: BRIGADE CAPITAL MANAGEMENT LLC

As Collateral Manager

 

By:      /s/ Ben Pollack     

Name: Ben Pollack

Title:   Associate

 

 

 

  

  

  

 

LENDERS (cont’d):

 

CARLYLE ARNAGE CLO, LTD.

 

By:      /s/ Linda Pace     

Name: Linda Pace

Title:   Managing Director

 

 

 

  

  

  

 

 

LENDERS (cont’d):

 

CARLYLE AZURE CLO, LTD.

 

By:      /s/ Linda Pace    

Name: Linda Pace

Title:   Managing Director

 

 

 

  

  

  

 

 

LENDERS (cont’d):

 

CARLYLE BRISTOL CLO, LTD.

 

By:      /s/ Linda Pace    

Name: Linda Pace

Title:   Managing Director

 

 

 

  

  

  

 

 

LENDERS (cont’d):

 

CARLYLE CREDIT PARTNERS FINANCING I, LTD.

 

By:      /s/ Linda Pace    

Name: Linda Pace

Title:   Managing Director

 

 

 

  

  

  

 

 

LENDERS (cont’d):

 

CARLYLE DAYTONA CLO, LTD.

 

By:      /s/ Linda Pace    

Name: Linda Pace

Title:   Managing Director

 

 

 

  

  

  

 

 

LENDERS (cont’d):

 

CARLYLE MCLAREN CLO, LTD.

 

By:      /s/ Linda Pace    

Name: Linda Pace

Title:   Managing Director

 

 

 

  

  

  

 

LENDERS (cont’d):

 

CARLYLE VANTAGE CLO, LTD.

 

By:      /s/ Linda Pace    

Name: Linda Pace

Title:   Managing Director

 

 

 

  

  

  

 

 

LENDERS (cont’d):

 

CARLYLE VEYRON CLO, LTD.

 

By:      /s/ Linda Pace    

Name: Linda Pace

Title:   Managing Director

 

 

 

  

  

  

 

 

LENDERS (cont’d):

 

CARLYLE HIGH YIELD PARTNERS IX, LTD.

 

By:      /s/ Linda Pace    

Name: Linda Pace

Title:   Managing Director

 

 

 

  

  

  

 

LENDERS (cont’d):

 

CARLYLE HIGH YIELD PARTNERS VII, LTD.

 

By:      /s/ Linda Pace    

Name: Linda Pace

Title:   Managing Director

 

 

 

  

  

  

 

 

LENDERS (cont’d):

 

CARLYLE HIGH YIELD PARTNERS VIII, LTD.

 

By:      /s/ Linda Pace    

Name: Linda Pace

Title:   Managing Director

 

 

 

  

  

  

 

 

LENDERS (cont’d):

 

CARLYLE HIGH YIELD PARTNERS X, LTD.

 

By:      /s/ Linda Pace    

Name: Linda Pace

Title:   Managing Director

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Cent CDO 10 Limited

By: Columbia Management Investment Advisers, LLC

As Collateral Manager

 

By:      /s/ Robin C. Stancil     

Name: Robin C. Stancil

Title:   Director of Operations

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Cent CDO 12 Limited

By: Columbia Management Investment Advisers, LLC

As Collateral Manager

 

By:      /s/ Robin C. Stancil     

Name: Robin C. Stancil

Title:   Director of Operations

 

 

 

  

  

  

 

LENDERS (cont’d):

 

RiverSource Life Insurance Company

 

By:      /s/ Robin C. Stancil     

Name: Robin C. Stancil

Title:   Authorized Signatory

 

 

 

  

  

  

 

LENDERS (cont’d):

 

CIFC Funding 2006-IB, Ltd.

CIFC Funding 2006-II, Ltd.

CIFC Funding 2007-II, Ltd.

By: Commercial Industrial Finance Corp,

its Collateral Manager

 

Hewett's Island CLO V, Ltd.

Hewett's Island CLO VI, Ltd.

By: CypressTree Investment Management, LLC,

its Collateral Manager

 

Primus CLO II, Ltd.

By: CypressTree Investment Management, LLC,

its Subadviser

 

By:      /s/ Robert Milton     

Name: Robert Milton

Title:   Secretary

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Atruim IV CO CSFB ALTERNATIVE CAPITAL INC 

BY CREDIT SUISSE ALT CAPITAL

 

By:      /s/ Lauri Whitlock     

Name: Lauri Whitlock

Title:   Authorized Signatory

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Atrium III

 

By:      /s/ Lauri Whitlock     

Name: Lauri Whitlock

Title:   Authorized Signatory

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Castle Garden Funding

 

By:     /s/ Lauri Whitlock     

Name: Lauri Whitlock

Title:   Authorized Signatory

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Hewett's Island CLO IV, Ltd.

By: LCM Asset Management LLC

As Collaterial Manager

 

By:      /s/ Alexander B. Kenna    

Name: Alexander B. Kenna

Title:   LCM Asset Management LLC

 

 

 

  

  

  

 

LENDERS (cont’d):

 

DWS Floating Rate Plus Fund

By: Deutsche Investment Management Americas, Inc.

Investment Advisor

 

By:      /s/ Eric S. Meyer     

Name: Eric S. Meyer

Title:   Managing Director

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Flagship CLO IV

By: Deutsche Investment Management Americas, Inc.

(as successor in interest to Deutsche Asset Management, Inc.),

As Collateral Manager

 

By:      /s/ Eric S. Meyer     

Name: Eric S. Meyer

Title:   Managing Director

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Flagship CLO V

By: Deutsche Investment Management Americas, Inc.

(as successor in interest to Deutsche Asset Management, Inc.),

As Collateral Manager

 

By:      /s/ Eric S. Meyer     

Name: Eric S. Meyer

Title:   Managing Director

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Flagship CLO VI

By: Deutsche Investment Management Americas, Inc.

(as successor in interest to Deutsche Asset Management, Inc.),

As Collateral Manager

 

By:      /s/ Eric S. Meyer     

Name: Eric S. Meyer

Title:   Managing Director

 

 

 

  

  

  

 

LENDERS (cont’d):

 

DWS Short Duration Plus Fund

By: Deutsche Investment Management Americas, Inc.

Investment Advisor

 

By:      /s/ Eric S. Meyer     

Name: Eric S. Meyer

Title:   Managing Director

 

 

 

  

  

  

 

LENDERS (cont’d):

 

MET INVESTORS SERIES TRUST -

MET/EATON VANCE FLOATING RATE PORTFOLIO

BY EATON VANCE MANAGEMENT 

AS INVESTMENT SUB-ADVISOR

 

By:      /s/ Michael Kinahan      

Name: Michael Kinahan

Title:   Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

PACIFIC SELECT FUND

FLOATING RATE PORTFOLIO

BY EATON VANCE MANAGEMENT 

AS INVESTMENT SUB-ADVISOR

 

By:     /s/ Michael Kinahan      

Name: Michael Kinahan

Title:   Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

EATON VANCE FLOATING-RATE INCOME TRUST

BY EATON VANCE MANAGEMENT 

AS INVESTMENT ADVISOR

 

By:      /s/ Michael Kinahan      

Name: Michael Kinahan

Title:   Vice President

 

 

 

 

  

  

  

 

LENDERS (cont’d):

 

EATON VANCE INSTITUTIONAL SENIOR LOAN FUND

BY EATON VANCE MANAGEMENT 

AS INVESTMENT ADVISOR

 

By:      /s/ Michael Kinahan      

Name: Michael Kinahan

Title:   Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

EATON VANCE 

LIMITED DURATION INCOME FUND

BY EATON VANCE MANAGEMENT 

AS INVESTMENT ADVISOR

 

By:      /s/ Michael Kinahan      

Name: Michael Kinahan

Title:   Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

EATON VANCE MEDALLION

FLOATING-RATE INCOME PORTFOLIO

BY EATON VANCE MANAGEMENT 

AS INVESTMENT ADVISOR

 

By:      /s/ Michael Kinahan      

Name: Michael Kinahan

Title:   Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

MET INVESTORS SERIES TRUST -

MET/EATON VANCE FLOATING RATE PORTFOLIO

BY EATON VANCE MANAGEMENT 

AS INVESTMENT SUB-ADVISOR

 

By:      /s/ Michael Kinahan      

Name: Michael Kinahan

Title:   Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

EATON VANCE SENIOR

FLOATING-RATE TRUST

BY EATON VANCE MANAGEMENT 

AS INVESTMENT ADVISOR

 

By:      /s/ Michael Kinahan      

Name: Michael Kinahan

Title:   Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

GRAYSON & CO

BY: BOSTON MANAGEMENT AND RESEARCH

AS INVESTMENT ADVISOR

 

By:      /s/ Michael Kinahan      

Name: Michael Kinahan

Title:   Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

SENIOR DEBT PORTFOLIO

By: Boston Management and Research

as Investment Advisor

 

By:      /s/ Michael Kinahan      

Name: Michael Kinahan

Title:   Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Fortress Credit Investments I LTD

 

By:      /s/ Glenn P. Cummins     

Name: Glenn P. Cummins

Title:   Director

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Fortress Credit Investments II LTD

 

By:      /s/ Glenn P. Cummins     

Name: Glenn P. Cummins

Title:   Director

 

 

 

  

  

  

 

LENDERS (cont’d):

 

FRANKLIN CLO V, LTD.

 

By:      /s/ David Ardini     

Name: David Ardini, Franklin Advisers, Inc. as Collateral Manager

Title:   Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

FRANKLIN CLO VI LTD.

 

By:      /s/ David Ardini     

Name: David Ardini, Franklin Advisers, Inc. as Collateral Manager

Title:   Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

FRANKLIN FLOATING RATE DAILY ACCESS FUND

 

By:      /s/ Madeline Lam     

Name: Madeline Lam

Title:   Assistant Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

FRANKLIN FLOATING RATE MASTER SERIES

 

By:      /s/ Madeline Lam     

Name: Madeline Lam

Title:   Assistant Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

FRANKLIN TEMPLETON SERIES II FUNDS - 

FRANKLIN FLOATING RATE II FUND

 

By:      /s/ Madeline Lam     

Name: Madeline Lam

Title:   Assistant Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

GARRISON FUNDING 2010-1 LLC

 

By:      /s/ Julian Weldon     

Name: Julian Weldon

Title:   Secretary

 

 

 

  

  

  

 

LENDERS (cont’d):

 

NAVIGATOR CDO 2006, LTD., as a Lender

By: GE Capital Debt Advisors LLC, as Collateral Manager

 

By:      /s/ John Campos     

Name: John Campos

Title:   Authorized Signatory

 

 

 

  

  

  

 

LENDERS (cont’d):

 

GOLDEN GATE CAPITAL SPV LTD.

 

By:      /s/ Rob Stobo    

Name: Rob Stobo

Title:   Manager

 

 

 

  

  

  

 

LENDERS (cont’d):

 

BLACKSTON / GSO SENIOR FLOATING RATE TERM FUND

BY: GSO  / BLACKSTONE DEBT FUNDS MANAGEMENT LLC

AS INVESTMENT ADVISER

 

By:      /s/ Daniel H. Smith     

Name: Daniel H. Smith

Title:   Authorized Signatory

 

 

 

  

  

  

 

LENDERS (cont’d):

 

H/2 Real Estate CDO 2006-1 Ltd.

 

By:      /s/ Peeter Muursepp     

Name: Peeter Muursepp

Title:   Director of Operations

 

 

 

  

  

  

 

LENDERS (cont’d):

 

ING Capital LLC

 

By:     /s/ William Redmond     

Name: William Redmond

Title:   Managing Director

 

 

 

  

  

  

LENDERS (cont’d):

 

ING Prime Rate Trust

ING Senior Income Fund

ING International (II) - Senior Loans

ING Floating Rate Debt

ING Investment Management CLO I, LTD.

IBM Personal Pension Plan Trust

 

By: ING Investment Management Co.,

        as its investment manager

 

ING Investment Trust Co. Plan for Employee

Benefit Investment Funds - Senior Loan Fund

By: ING Investment Trust Co. as its trustee

 

ING Investment Management CLO II, LTD.

ING Investment Management CLO III, LTD.

ING Investment Management CLO IV, LTD.

ING Investment Management CLO V, LTD.

 

By: ING Alternative  Asset Management LLC,

        as its investment manager

 

Phoenix CLO II, LTD.

By: ING Alternative  Asset Management LLC,

        as its investment manager

 

By:     /s/ Mark F. Haak     

Name: Mark F. Haak, CFA

Title:   Vice President

 

 

 

  

  

  

 

LENDERS (cont’d):

 

CRATOS CLO I LTD.

 

By: Cratos CDO Management, LLC

As Attorney-In-Fact

 

By: JMP Credit Advisors LLC

Its Manager

 

By:      /s/ Jeremy Phipps     

Name: Jeremy Phipps

Title:   Director 

 

 

 

 

 

  

  

  

 

LENDERS (cont’d):

 

ROSEDALE CLO II LTS.

 

By: JMP Credit Advisors LLC

As Collateral Manager

 

By:      /s/ Jeremy Phipps     

Name: Jeremy Phipps

Title:   Director 

 

 

 

  

  

  

 

LENDERS (cont’d):

 

The Boeing Company Employees Retirement Plans Master Trust

 

By:      /s/ Kathleen News     

Name: Kathleen News

Title:   Sr. Portfolio Manager

 

 

 

  

  

  

 

LENDERS (cont’d):

 

State Retirement and Pension System of Maryland

 

By:      /s/ Kathleen News     

Name: Kathleen News

Title:   Sr. Portfolio Manager

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Vermont Pension Investment Committee

 

By:      /s/ Kathleen News     

Name: Kathleen News

Title:   Sr. Portfolio Manager

 

 

 

  

  

  

 

LENDERS (cont’d):

 

American States Insurance Company

 

By:      /s/ Robert A. Howard     

Name: Robert A. Howard

Title:   Authorized Signatory

 

 

 

  

  

  

 

LENDERS (cont’d):

 

General Insurance Company of America

 

By:      /s/ Robert A. Howard     

Name: Robert A. Howard

Title:   Authorized Signatory

 

 

 

  

  

  

 

LENDERS (cont’d):

 

Liberty Mutual Fire Insurance Company

 

By:      /s/ Robert A. Howard     

Name: Robert A. Howard

Title:   Authorized Signatory

 

 

  

  

  

 

LENDERS (cont’d):

 

LORD ABBOTT & CO, LLC

AS COLLATERAL MANAGER

 

By: Golden Knight II CLO Limited 

 

By:      /s/ Elizabeth MacLean     

Name: Elizabeth MacLean

Title:   Portfolio Manager

 

 

 

  

  

  

 

LENDERS (cont’d):

 

By: Lord Abbott Investment Trust - Lord Abbott

Floating Rate Fund 

 

By:      /s/ Elizabeth MacLean     

Name: Elizabeth MacLean

Title:   Portfolio Manager

 

 

 

 

  

  

  

 

LENDERS (cont’d):

 

MARATHON CLO II LTD.

By: Marathon Asset Management L.P.

Its Collateral Manager

 

By:      /s/ Louis T. Hanover      

Name: Louis T. Hanover

Title:   Authorized Signatory

 

 

 

  

  

  

 

LENDERS (cont’d):

 

COLE BROOK CBNA LOAN FUNDING LLC

 

By:      /s/ Malia Baynes      

Name: Malia Baynes

Title:   Attorney-In-Fact

 

 

 

  

  

  

 

LENDERS (cont’d):

 

CALVARY CLO I LTD

 

By: Regiment Capital Management, LLC

as its Investment Advisor

 

By: Regiment Capital Advisors, LP

its Manager and pursuant to delegated authority

 

By: Regiment Capital Advisors, LLC

its General Partner

 

By:      /s/ Mark A. Brostowski      

Name: Mark A. Brostowski

Title:   Authorized Signatory

 

 

 

  

  

  

 

 

LENDERS (cont’d):

 

XL RE Ltd.

 

By: Regiment Capital Management, LLC

as its Investment Advisor

 

By:      /s/ Mark A. Brostowski      

Name: Mark A. Brostowski

Title:   Authorized Signatory

 

 

 

  

  

  

 

LENDERS (cont’d):

 

PRESIDENT & FELLOWS OF HARVARD COLLEGE

 

By: Regiment Capital Management, LLC

as its Investment Advisor

 

By: Regiment Capital Advisors, LP

its Manager and pursuant to delegated authority

 

By:      /s/ Mark A. Brostowski      

Name: Mark A. Brostowski

Title:   Authorized Signatory

 

 

 

  

  

  

 

LENDERS (cont’d):

 

REGIMENT CAPITAL, LTD

 

By: Regiment Capital Management, LLC

as its Investment Advisor

 

By: Regiment Capital Advisors, LP

its Manager and pursuant to delegated authority

 

By:      /s/ Mark A. Brostowski      

Name: Mark A. Brostowski

Title:   Authorized Signatory

 

 

 

  

  

  

 

LENDERS (cont’d):

 

COLUMBIA INSTITUTIONAL LEVERAGED LOAN FUND II, L.P.

(f/k/a RIVERSOURCE INSTITUTIONAL LEVERAGED LOAN FUND II, L.P.)

 

By: Columbia Management Investment Advisers, LLC

as Investment Manager

 

By:      /s/ Donna D. Emmett      

Name: Donna D. Emmett

Title:   Assistant Secretary

 

 

 

  

  

  

 

 

Each of the persons listed on Annex A,

Severally but not jointly, as Lender

 

By: Wellington Management Company, LLP,

as its Investment Adviser

 

By:      /s/ Robert J. Toner      

Name: Robert J. Toner

Title:   Vice President and Counsel

 

 

 

 

  

  

  

 

 

ANNEX A

 

Global Indemnity (Cayman) Limited

 

Stellar Performer Global Series W - Global Credit

 

SunAmerica Senior Floating Rate Fund, Inc.

 

 

 

  

  

  

 

LENDERS (cont’d):

 

[Wells Fargo Bank N.A.]

 

By:      /s/ George Wick      

Name: George Wick

Title:   Executive Vice President

 

 

 

  

  

  

 

Westen Asset Management Company acting as

Investment Manager and Agent on behalf of Mt. 

Wilson CLO II, LTD

 

By:      /s/ Donna Thomas-Sapp      

Name: Donna Thomas-Sapp

Title:   Authorized Signatory

 

 

 

  

  

  

 

Westen Asset Management Company acting as

Investment Manager and Agent on behalf of Mt. 

Wilson CLO, LTD

 

By:      /s/ Donna Thomas-Sapp      

Name: Donna Thomas-Sapp

Title:   Authorized Signatory

 

 

 

  

  

  

 

Westen Asset Management Company acting as

Investment Manager and Agent on behalf of 

Western Asset Floating Rate High Income Fund, 

LLC

 

By:      /s/ Donna Thomas-Sapp      

Name: Donna Thomas-Sapp

Title:   Authorized Signatory

 

 

 

  

  

  

 

Westen Asset Management Company acting as

Investment Manager and Agent on behald of John 

Hancock Fund II Floating Rate Income Fund

 

By:      /s/ Donna Thomas-Sapp      

Name: Donna Thomas-Sapp

Title:   Authorized Signatory

 

 

 

  

  

  

 

 

WhiteHorse IV, Ltd.

By WhiteHorse Capital Partners, L.P.

       as Collateral Manager 

By WhiteRock Asset Advisor, LLC, its GP

 

By:      /s/ Jay Carvell      

Name: Jay Carvell

Title:   As Managerexhibit_10-1.htm

Exhibit 10.1

 

AMENDMENT TO ASSIGNMENT AGREEMENT

 

THIS AMENDMENT is entered into on March 7, 2011, between Manpower Inc. (the “Corporation”) and Jonas Prising (the “Employee”) (“Amendment”);

 

WHEREAS, the parties wish to extend the term of that certain letter agreement between the Corporation and the Employee  dated December 29, 2008 regarding Employee’s assignment to the United States (the “Assignment Agreement”);

 

NOW, THEREFORE, the parties wish to amend the Assignment Agreement and agree to enter into this Amendment to the Assignment Agreement as provided below:

 

	
1.  

	
Paragraph 2 of the Assignment Agreement – “Term” shall be deleted in its entirety and replaced in its entirety with the following:

 

 

	
2.  

	
 Term.              The “Term” is the period beginning on January 1, 2006 and ending on December 31, 2011, or, if earlier, the date you are either relocated by the Corporation or your employment with the Corporation is terminated.  You shall remain an at will employee of the Corporation during the Term.

 

 

IT IS FURTHER AGREED that except as hereby amended in this Amendment to the Assignment Agreement, all other terms and provisions in the Assignment Agreement shall remain in full force and effect.

 

 

MANPOWER INC.

 

 

By: /s/ Jeffrey A. Joerres                                                                          

Jeffrey A. Joerres, President and

Chief Executive Officer

 

Agreed as of the 7th day of March, 2011.

 

/s/ Jonas Prising                                                                

    Jonas Prising

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00186-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00186-of-00352.parquet"}]]