Document:

FY13 Q1 exh 10.1 RPA

Exhibit 10.1

EXECUTION COPY

AMENDMENT NO. 1 TO FIRST AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT

This amendment no. 1 to FIRST AMENDED AND RESTATED Receivables Purchase Agreement (this “Amendment”) is entered into as of September 21, 2012, by and among Meredith Funding Corporation, a Delaware corporation (“Seller”), Meredith Corporation, an Iowa corporation (“Meredith”), as initial Servicer (the Servicer, together with Seller, the “Seller Parties” and each, a “Seller Party”), JPMorgan Chase Bank, N.A. (in its individual capacity as the sole “Financial Institution”), Falcon Asset Securitization Company LLC (the “Conduit”, and together with the sole Financial Institution, the “Purchasers”), and JPMorgan Chase Bank, N.A., as agent (together with its successors and assigns hereunder, the “Agent”), with respect to that certain First Amended and Restated Receivables Purchase Agreement among the parties hereto dated as of April 25, 2011 (the “Existing Agreement”).
W I T N E S S E T H :
WHEREAS, the Seller Parties, the Purchasers and the Agent are parties to the Existing Agreement; 
WHEREAS, Meredith, as guarantor (in such capacity, the “Guarantor”) has provided the Parent Guarantee, dated as of April 25, 2011 (as amended, supplemented or otherwise modified through the date hereof, the “Parent Guarantee”) to the Agent, for the benefit of the Persons named therein in relation to the obligations of the Seller under the Transaction Documents; and
WHEREAS, the parties desire to amend the Existing Agreement as hereinafter set forth, and the Guarantor desires to ratify the Parent Guarantee.
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:
1.Defined Terms.  Capitalized terms used herein and not otherwise defined shall have their meanings as attributed to such terms in the Existing Agreement.
2.Amendments to Existing Agreement.  The Existing Agreement is hereby amended as follows:
2.1    The definition of “Regulatory Change” in Exhibit I of the Existing Agreement is hereby deleted from Exhibit I of the Existing Agreement in its entirety.
2.2    The following new definitions are inserted into Exhibit I of the Existing Agreement in their appropriate alphabetical order:
““Change in Law” means the occurrence, after the First Amendment Date, of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation 

or application thereof by any Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued.”.
““First Amendment Date” means September 21, 2012.”.
2.3    The definition of “Scheduled Termination Date” in Exhibit I of the Existing Agreement is hereby amended and restated in its entirety to read as follows: 
““Scheduled Termination Date” means April 24, 2015.”.
2.4    Section 1.3 of the Existing Agreement is hereby amended to restate the first two sentences thereof in their entirety as follows: 
“Seller shall provide the Agent with at least three (3) Business Days' prior written notice (each, a “Reduction Notice”) of any proposed reduction of Aggregate Capital from Collections; provided that a Reduction Notice may be given on the same day of a proposed reduction of Aggregate Capital if (x) Yield is calculated based on the Alternate Base Rate with respect to such Aggregate Capital and (y) the Seller makes such proposed reduction by 3:00 p.m., New York City time.  Such Reduction Notice shall designate (i) the date (the “Proposed Reduction Date”) upon which any such reduction of Aggregate Capital shall occur (which date shall comply with the required notice set forth in the preceding sentence), and (ii) the amount of Aggregate Capital to be reduced which shall be applied ratably to the Purchaser Interests of Conduit and the Financial Institutions in accordance with the amount of Capital (if any) owing to Conduit, on the one hand, and the amount of Capital (if any) owing to the Financial Institutions (ratably, based on their respective Pro Rata Shares), on the other hand (the “Aggregate Reduction”).”.
2.5    Section 6.1 of the Existing Agreement is hereby amended by deleting “Amended” in clause (b) of the second sentence thereof.
2.6    Section 10.2(a) of the Existing Agreement is hereby amended and restated in its entirety as follows: 
“(a)    If, as a result of any Change in Law, any Funding Source shall be charged any fee, expense or increased cost (i) that subjects any Funding Source to any charge or withholding on or with respect to any Funding Agreement or a Funding Source's obligations under a Funding Agreement, or on or with respect to the Receivables, or changes the basis of taxation of payments to any Funding Source of any amounts payable under any Funding Agreement (except for changes in the rate of tax on the overall net income of a Funding Source or taxes excluded by Section 10.1) or (ii) that imposes, modifies or deems applicable any reserve, assessment, insurance charge, special deposit or similar requirement against assets of, deposits with or for the account of a Funding Source, or credit extended by a Funding Source pursuant to a Funding Agreement or (iii) that imposes any other condition the result of which is to increase the cost to a Funding Source of performing its obligations under a Funding Agreement, or to reduce the rate of return on a Funding Source's capital as a consequence of its obligations under a Funding Agreement, or to reduce the amount of any sum received or receivable by a Funding Source under a Funding Agreement or to require any payment calculated by reference 

to the amount of interests or loans held or interest received by it, then, upon the later of (i) 15 Business Days after demand by the Agent and (ii) the next succeeding Settlement Date, Seller shall pay to the Agent, for the benefit of the relevant Funding Source, such amounts charged to such Funding Source or such amounts to otherwise compensate such Funding Source for such increased cost or such reduction.”
3.Representations and Warranties.  In order to induce the Agent and the Purchasers to enter into this Amendment, each of the Seller Parties and the Guarantor, as applicable, hereby represents and warrants to the Agent and the Purchasers that after giving effect to the amendments contained in Section 2 above, (a) no Termination Event or Potential Termination Event exists and is continuing as of the Effective Date (as defined in Section 5 below), and (b) each of such Seller Party's or Guarantor's, as applicable, representations and warranties contained in Section 5.1 of the Existing Agreement and Section 5 of the Parent Guarantee is true and correct as of the Effective Date.
4.Ratification of Parent Guarantee.  The Guarantor hereby acknowledges and agrees that, immediately after giving effect to this Amendment, the Parent Guarantee shall remain in full force and effect and is hereby ratified and confirmed in all respects.  
5.Effective Date.  This Amendment shall become effective as of the date first above written (the “Effective Date”) when the Agent has received the following:
		
	(a)
	counterparts of this Amendment, duly executed by the Seller Parties, the Agent and the Purchasers or other evidence satisfactory to the Agent of the execution and delivery of this Amendment by such parties; 

		
	(b)
	counterparts of that certain fifth amended and restated fee letter, dated as of the date hereof (the “A&R Fee Letter”) , among the Agent, the Conduit and the Seller, duly executed by each of the parties thereto or other evidence satisfactory to the Agent of the execution and delivery of the A&R Fee Letter by such parties; and

		
	(c)
	payment in full of all applicable fees as specified in the A&R Fee Letter.  

6.Ratification of Existing Agreement.  The Existing Agreement, as modified hereby, is hereby ratified, approved and confirmed in all respects.
7.Reference to Agreement.  From and after the Effective Date hereof, each reference in the Existing Agreement to “this Agreement”, “hereof”, or “hereunder” or words of like import, and all references to the Existing Agreement in any and all agreements, instruments, documents, notes, certificates and other writings of every kind and nature shall be deemed to mean the Existing Agreement, as modified by this Amendment.
8.Costs and Expenses.  The Seller agrees to pay all costs, fees, and out-of-pocket expenses incurred by the Agent in connection with the preparation, execution and enforcement of this Amendment, including the reasonable fees of the Agent's legal counsel, Mayer Brown LLP, within thirty (30) days of presentation of a written invoice therefor.  
9.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.
10.Execution in 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 shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.
<signature pages follow>

IN WITNESS WHEREOF, the Seller Parties, the Guarantor, the Purchasers and the Agent have executed this Amendment as of the date first above written.
MEREDITH FUNDING CORPORATION, as a Seller Party

By:    /s/ Kevin M. Wagner                    
Name: Kevin M. Wagner
Title:     President

MEREDITH Corporation, as a Seller Party and as Guarantor

By:    /s/ Steven M. Cappaert                    
Name: Steven M. Cappaert
Title:     Corporate Controller

FALCON ASSET SECURITIZATION COMPANY LLC

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

By:    /s/ Anthony A. Eastman                        
Name:    Anthony A. Eastman
Title:    Underwriter

JPMORGAN CHASE BANK, N.A, as a Financial Institution and as Agent

By:    /s/ Anthony A. Eastman                    
Name:    Anthony A. Eastman
Title:     UnderwriterMylEx10.1_10Q_Sep302012

EXECUTION COPY

AMENDMENT NO. 2 TO  
RECEIVABLES PURCHASE AGREEMENT
This AMENDMENT NO. 2 TO RECEIVABLES PURCHASE AGREEMENT, dated as of September 24, 2012 (this “Amendment”), is among MYLAN PHARMACEUTICALS INC. (“MPI”), individually and as initial servicer (in such capacity, the “Servicer”), MYLAN SECURITIZATION LLC (“Seller”), MARKET STREET FUNDING LLC (“Market Street”), as a conduit purchaser, WORKING CAPITAL MANAGEMENT CO., LP (“WCMC”), as a conduit purchaser, VICTORY RECEIVABLES CORPORATION (“Victory”), as a conduit purchaser (each of Market Street, WCMC and Victory in the capacity of a conduit purchaser, individually, a “Conduit Purchaser” and collectively, the “Conduit Purchasers”), PNC BANK, NATIONAL ASSOCIATION (“PNC”), as a committed purchaser, MIZUHO CORPORATE BANK, LTD. (“Mizuho”), as a committed purchaser, SUNTRUST BANK (“SunTrust”), as a committed purchaser, THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH (“BTMUNY”), as a committed purchaser (each of PNC, Mizuho, SunTrust and BTMUNY in the capacity of a committed purchaser, individually, a “Committed Purchaser” and collectively, the “Committed Purchasers” and collectively with the Conduit Purchasers, the “Purchasers”), PNC, as a purchaser agent, Mizuho, as a purchaser agent, SUNTRUST ROBINSON HUMPHREY, INC. (“STRH”), as a purchaser agent, BTMUNY, as a purchaser agent (each of PNC, Mizuho, STRH and BTMUNY in the capacity of a purchaser agent, individually, a “Purchaser Agent” and collectively, the “Purchaser Agents”), BTMUNY, as agent on behalf of the Secured Parties (in such capacity, the “Agent”), and PNC, as an issuer of Letters of Credit (in such capacity, the “LOC Issuer”).
W I T N E S S E T H:
WHEREAS, the parties hereto are parties to that certain Receivables Purchase Agreement, dated as of February 21, 2012 (as amended, restated, supplemented or otherwise modified through the date hereof, the “Agreement”);
WHEREAS, the parties hereto wish to amend the Agreement upon the terms hereof.
NOW, THEREFORE, in exchange for good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged and confirmed), each of the parties hereto hereby agree as follows:
A G R E E M E N T:
1.Definitions.  Unless otherwise defined or provided herein, capitalized terms used herein have the meanings attributed thereto in (or by reference in) the Agreement.
2.    Amendment.  Clause (a)(i) of the definition of “Specified Concentration Percentage” set forth in  Appendix A of the Agreement is hereby amended and restated as follows: “28.0% shall apply to all Receivables the Obligor of which is Cardinal Health, Inc., so long as Cardinal Health, Inc.’s S&P short-term debt rating is A2 or higher and Cardinal Health, Inc.’s Moody’s short-term debt rating is P-2 or higher, otherwise, 24.0% shall apply to all Receivables the Obligor of which is Cardinal Health, Inc.”

3.    Representations and Warranties. Each of Seller, MPI, the Servicer and Performance Guarantor represents and warrants to each of the other parties hereto as of the date hereof, both before and immediately after giving effect to this Amendment, as follows:
(a)    The representations and warranties made by it in the Agreement and each of the other Transaction Document to which it is a party are true and correct both as of the date hereof and immediately after giving effect to this Amendment.
(b)    The execution and delivery by it of this Amendment and the performance of its respective obligations under this Amendment and the Agreement (as amended hereby), each as applicable, and the other Transaction Documents to which it is a party are within its organizational powers and have been duly authorized by all necessary action on its part, and this Amendment and the Agreement (as amended hereby), and the other Transaction Documents to which it is a party are its valid and legally binding obligations, enforceable in accordance with their respective terms, subject to the effect of bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights generally.
(c)    No Event of Default or Unmatured Event of Default has occurred and is continuing, or would occur as a result of this Amendment or the transactions contemplated hereby.
4.    Conditions to Effectiveness.  This Amendment shall become effective as of the date first above written upon satisfaction of the following conditions precedent:
(a)    Execution of Amendment.  The Agent shall have received a counterpart of this Amendment duly executed by each of the parties hereto.
(b)    No Defaults.  No Event of Default or Unmatured Event of Default shall have occurred and be continuing either before or immediately after giving effect to this Amendment.
(c)    Representations and Warranties True.  The representations and warranties of Seller, MPI and the Servicer contained in the Agreement, and of Seller, MPI, the Servicer and Performance Guarantor contained in this Amendment, in each case, shall be true and correct both as of the date hereof and immediately after giving effect to this Amendment.
5.    Reference to and Effect on the Agreement and the other Transaction Documents.
(a)    Each reference in the Agreement to “this Agreement,” “herein,” “hereof” and words of like import and each reference in the other Transaction Documents to “Receivables Purchase Agreement”, “Purchase Agreement”, “thereunder”, “thereof” or words of like import referring to the Agreement shall mean and be a reference to the Agreement, as amended hereby.  
(b)    Each of the Agreement and the other Transaction Documents (except as specifically amended herein) is hereby ratified and confirmed in all respects by each of the 

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parties hereto and shall remain in full force and effect in accordance with its respective terms.  
(c)    The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of or amendment to any right, power or remedy of the Agent, any Purchaser, any Purchaser Agent or the LOC Issuer under, nor constitute a waiver of or amendment to, any other provision or condition under any Transaction Document.
(d)    To the extent that the consent of any party hereto, in any capacity, is required under any Transaction Document or any other agreement entered into in connection with any Transaction Document with respect to any of the amendments set forth herein, such party hereby grants such consent.
6.    Transaction Document.  This Amendment shall be a Transaction Document under (and as defined in) the Agreement.
7.    Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of Seller, the Servicer, MPI, the Purchasers, the Purchaser Agents, the LOC Issuer and the Agent, and their respective successors and assigns.
8.    Costs and Expenses.  The Seller agrees to pay on demand all reasonable and documented out-of-pocket costs and expenses incurred by or on behalf of Agent, each Purchaser, each Purchaser Agent and the LOC Issuer in connection with the preparation, negotiation, execution and delivery of this Amendment and any other documents to be delivered in connection herewith or therewith, including reasonable attorneys’ fees and expenses of a single counsel.
9.    Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT WITHOUT REGARD TO ANY OTHER CONFLICTS OF LAW PROVISIONS THEREOF).
10.    Execution in Counterparts.  This Amendment may be executed in any number of counterparts and by the different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same Agreement.  Delivery of an executed counterpart hereof by facsimile or other electronic means shall be equally effective as delivery of an originally executed counterpart.
11.    Section Headings.  The various headings of this Amendment are included for convenience only and shall not affect the meaning or interpretation of this Amendment, the Agreement or any provision hereof or thereof.

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12.    Reaffirmation of Performance Guaranty.  After giving effect to this Amendment, and the transactions contemplated hereby, all of the provisions of the Performance Guaranty shall remain in full force and effect and the Performance Guarantor hereby ratifies and affirms the Performance Guaranty and acknowledges that the Performance Guaranty has continued and shall continue in full force and effect in accordance with its terms.

[Signatures Follow]

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

MYLAN PHARMACEUTICALS INC., 
individually and as initial Servicer

By:    /s/ Brian Byala    
Name:             Brian Byala
Title:    Treasurer

MYLAN SECURITIZATION LLC, 
as Seller

By:    /s/ Brian Byala    
Name:    Brian Byala
Title:    President

S-1

Amendment No. 2 to
Receivables Purchase Agreement

VICTORY RECEIVABLES CORPORATION, 
as a Conduit Purchaser

By:    /s/ Frank B. Bilotta    
Name:  Frank B. Bilotta
Title:    Vice President

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, 
as Purchaser Agent for the BTMU Group 

By:    /s/ Luna Mills    
Name:   Luna Mills
Title:     Director

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, 
as Agent

By:    /s/ Luna Mills    
Name:   Luna Mills
Title:     Director

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, 
as a Committed Purchaser

By:    /s/ Lillian Kim    
Name:    Lillian Kim
Title:      Director

S-2

Amendment No. 2 to
Receivables Purchase Agreement

MARKET STREET FUNDING LLC, 
as a Conduit Purchaser

By:    /s/ Karla L. Boyd    
Name:    Karla L. Boyd
Title:      President

PNC BANK, NATIONAL ASSOCIATION, 
as Purchaser Agent for the PNC Group 

By:    /s/ William P. Falcon    
Name:    William P. Falcon
Title:      Vice President

PNC BANK, NATIONAL ASSOCIATION, 
as a Committed Purchaser and as an LOC Issuer 

By:    /s/ Mark Falcione    
Name:    Mark Falcione
Title:      Senior Vice President

S-3

Amendment No. 2 to
Receivables Purchase Agreement

SUNTRUST ROBINSON HUMPHREY, INC., 
as Purchaser Agent for the SunTrust Group 

By:    /s/ Joseph Franke    
Name:      Joseph Franke
Title:        Senior Vice President            

SUNTRUST BANK, 
as a Committed Purchaser

By:    /s/ Micheal Peden    
Name:     Michael Peden
Title:       Vice President

S-4

Amendment No. 2 to
Receivables Purchase Agreement

WORKING CAPITAL MANAGEMENT CO., LP, as a Conduit Purchaser

By:    /s/ Shinichi Nochiide    
Name:    Shinichi Nochiide
Title:      Attorney-in-Fact

MIZUHO CORPORATE BANK, LTD., 
as Purchaser Agent for the Mizuho Group 

By:    /s/ Bertram Tang    
Name:    Bertram Tang
Title:      Authorized Signatory

MIZUHO CORPORATE BANK, LTD., 
as a Committed Purchaser

By:    /s/ Bertram Tang    
Name:    Bertram Tang
Title:      Authorized Signatory

S-5

Amendment No. 2 to
Receivables Purchase Agreement

Acknowledge and Agreed to:

MYLAN INC., 
as Performance Guarantor

By:    /s/ Brian Byala    
Name:    Brian Byala
Title:    Senior Vice President, Treasurer

S-6

Amendment No. 2 to
Receivables Purchase Agreement

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