Document:

exv10w1

 

EXHIBIT 10.1

EXECUTION COPY

NINTH AMENDMENT AGREEMENT

          This Ninth Amendment Agreement (“Amendment”) is executed as of the 27th day of June, 2006, by
and among Pier 1 Funding, L.L.C., a Delaware limited liability company, as transferor (the
“Transferor”), Pier 1 Imports (U.S.), Inc., a Delaware corporation, as servicer (the “Servicer”),
and Wells Fargo Bank, National Association (successor by merger to Wells Fargo Bank Minnesota,
National Association), a national banking association, as trustee (the “Trustee”).

W I T N E S S E T H:

          WHEREAS, the Transferor, the Servicer and the Trustee executed the Series 2001-1 Supplement
dated as of September 4, 2001 (as heretofore amended, the “Supplement”), to the Pooling and
Servicing Agreement dated as of February 12, 1997, among such parties (as heretofore amended, the
“Agreement;” unless otherwise defined herein, capitalized terms used herein shall have the meanings
assigned to such terms in the Agreement or the Supplement, as applicable); and

          WHEREAS, the parties hereto have agreed to amend further the Supplement on the terms and
conditions hereinafter set forth.

          NOW, THEREFORE, the parties hereto agree as follows:

          SECTION 1. Amendment of the Supplement. Effective on the date hereof and subject to
the satisfaction of the condition precedent set forth in Section 2 below, the definition of
“Ineligible Deferred Payment Plan Receivable” set forth in Section 1.2 of the Supplement is
amended and restated in its entirety to read as follows:

     “Ineligible Deferred Payment Plan Receivable” shall mean any Deferred
Payment Plan Receivable that by its terms (i) permits the deferral of current
payments of principal for more than six monthly billing cycles, (ii) permits the
deferral of current payments of interest for more than 12 monthly billing cycles or
(iii) permits the deferral of current payments of interest for up to 12 monthly
billing cycles but does not require minimum monthly payments (following the
expiration of any permitted deferral period under (i) above with respect to current
payments of principal) of at least 5% of the original outstanding principal balance
thereof.

          SECTION 2. Condition Precedent. This Amendment shall become effective as of the
date hereof upon the execution of this Amendment by all of the parties hereto and the execution and
delivery of the Consent to Amendment to Supplement attached hereto.

 

 

          SECTION 3. Miscellaneous.

          3.1 Ratification. As amended hereby, the Supplement is in all respects ratified and
confirmed and the Supplement as so supplemented by this Amendment shall be read, taken and
construed as one and the same instrument.

          3.2 Representation and Warranty. Each of the Transferor and the Servicer represents
and warrants that this Amendment has been duly authorized, executed and delivered by it and
constitutes its legal, valid and binding obligation, enforceable in accordance with its terms,
except as such enforceability may be limited by bankruptcy, insolvency, reorganization, fraudulent
transfer, moratorium or other similar laws affecting creditors’ rights generally and by general
principles of equity (regardless of whether such enforceability is considered in a proceeding at
law or in equity).

          3.3 Governing Law; Parties; Severability. This Amendment shall be governed by and
construed in accordance with the laws and decisions (as opposed to the conflicts of law provisions)
of the State of New York. Whenever in this Amendment there is a reference made to any of the
parties hereto, such reference shall also be a reference to the successors and assigns of such
party, including, without limitation, any debtor-in-possession or trustee. The provisions of this
Amendment shall be binding upon and shall inure to the benefit of the successors and assigns of the
parties hereto. Whenever possible, each provision of this Amendment shall be interpreted in such a
manner as to be effective and valid under applicable law, but if any provision of this Amendment
shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the
extent of such prohibition or invalidity without invalidating the remainder of such provision or
the remaining provisions of this Amendment.

          3.4 Counterparts. This Amendment may be executed in one or more counterparts, each
of which shall be deemed to be an original, but all of which together shall constitute one and the
same instrument.

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          IN WITNESS WHEREOF, the Transferor, the Servicer and the Trustee have caused this Amendment to
be fully executed by their respective officers as of the day and year first above written.

	 	 	 	 	 
	 	 	PIER 1 FUNDING, L.L.C.,

Transferor
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	 	 	Name:

Title:
	 
	 	 	 	 
	 	 	PIER 1 IMPORTS (U.S.), INC.,

Servicer
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	 	 	Name:

Title:
	 
	 	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL ASSOCIATION

(successor by merger to Wells Fargo Bank

Minnesota, National Association),

Trustee
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	 	 	Name:

Title:

[Consent to Amendment to Supplement Attached]

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CONSENT TO AMENDMENT TO SUPPLEMENT

          The undersigned, constituting the Majority Investors under and as defined in the Certificate
Purchase Agreement dated as of September 4, 2001 (as heretofore amended, the “Purchase Agreement”),
among Pier 1 Funding, L.L.C., as the transferor, Pier 1 Imports (U.S.), Inc., as the servicer, the
Class A Purchasers named therein and JPMorgan Chase Bank, N.A. (as successor to Morgan Guaranty
Trust Company of New York), as the administrative agent, hereby consent to the terms and conditions
of the Ninth Amendment Agreement dated as of June 27th, 2006, among Pier 1 Funding, L.L.C., as
transferor, Pier 1 Imports (U.S.), Inc., as servicer, and Wells Fargo Bank, National Association
(successor by merger to Wells Fargo Bank Minnesota, National Association), as trustee, relating to
the Series 2001-1 Supplement dated as of September 4, 2001, as heretofore amended, among the same
parties.

	 	 	 	 	 
	 	 	PARK AVENUE RECEIVABLES 
COMPANY, LLC (as
successor to Delaware 
Funding Company, LLC), as
the sole Structured 
Investor
	 
	 	 	 	 
	 	 	By JPMorgan Chase Bank, N.A., as attorney-in- 
fact
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name: Sherri Gerner

Title: Vice President
	 
	 	 	 	 
	 	 	JPMORGAN CHASE BANK, N.A., as the sole Committed
Investor
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name: Sherri Gerner

Title: Vice President

4exv4w1

 

Exhibit 4.1

Execution Copy

AMENDMENT NO. 2 TO RIGHTS AGREEMENT

                     AMENDMENT, dated as of July 2, 2006 (this “Amendment”), to the Rights Agreement, dated as of
April 17, 1990, as amended (the “Rights Agreement”), between Summit Bancshares, Inc., a Texas
corporation (the “Company”), and Summit Bancservices, Inc., a Texas banking corporation, as Rights
Agent (the “Rights Agent”).

RECITALS

                     A. Rights Agreement. The Company and the Rights Agent have heretofore executed and entered
into the Rights Agreement. The Rights Agent was subsequently dissolved and the Company has
appointed Summit Bank, N.A. as the successor Rights Agent. All references to the Rights Agent
shall be deemed to refer to Summit Bank, N.A. as the successor Rights Agent.

                     B. Merger Agreement. The Company contemplates entering into an Agreement and Plan of Merger,
dated as of July 2, 2006 (the “Merger Agreement”), with Cullen/Frost Bankers, Inc., a Texas
corporation (“Parent”), pursuant to which the Company will merge with and into Parent. The Board
of Directors of the Company has approved the Merger Agreement.

                     C. Amendment. Pursuant to Section 26(iv) of the Rights Agreement, the Company may, and the
Rights Agent shall prior to the Distribution Date, if the Company so directs, supplement or amend
the Rights Agreement, and, in connection with the Merger Agreement and the consummation of the
transactions contemplated thereby, the Board of Directors of the Company has determined that an
amendment to the Rights Agreement as set forth herein is necessary and desirable. The officer
executing this Amendment on behalf of the Company hereby certifies in accordance with Section 26 of
the Rights Agreement that this Amendment is in compliance with the terms of Section 26 of the
Rights Agreement. All acts and things necessary (including, but not limited to the delivery of the
certificate contemplated by Section 26 of the Rights Agreement) to make this Amendment a valid
agreement, enforceable in accordance with its terms, have been done and performed, and the
execution and delivery of this Amendment by the Company and the Rights Agent have been in all
respects duly authorized by the Company and the Rights Agent.

                     NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and
agreements set forth herein and in the Merger Agreement, the parties agree as follows:

	1.	 	Amendment to Section 1. Section 1 of the Rights Agreement is amended to add the following
definitions:

   “(r) Parent: Cullen/Frost Bankers, Inc., a Texas corporation.”

   “(s) Cullen/Frost Merger Agreement: The Agreement and Plan of Merger, dated as of
July 2, 2006, between Parent and the Company, as it may be amended or modified from time to
time.”

 

 

	2.	 	Amendment to the Definition of “Acquiring Person”. The definition of “Acquiring Person” in
Section 1(a) of the Rights Agreement is amended by adding the following sentence to the end of
Section 1(a):
	 
	 	 	“Notwithstanding anything in this Agreement to the contrary, none of Parent or any
Associate or Affiliate of Parent shall be an Acquiring Person and no Person shall be
deemed an Acquiring Person until the Board of Directors of the Company shall have passed a
resolution to such effect.”
	 
	3.	 	Amendment to the Definition of “Acquisition Event”. The definition of “Acquisition Event” in
Section 1(b) of the Rights Agreement is amended in its entirety to read as follows:
	 
	 	 	“(b) “Acquisition Event” shall mean any event described in Section 11(a)(ii)(A), (B), or
(C) or Section 13(a); provided that no Acquisition Event shall occur as a result of the
entry into, or any transaction contemplated by, the Cullen/Frost Merger Agreement or any
related agreement.”
	 
	4.	 	Amendment to the Definition of “Beneficial Owner” and “Beneficially Own”. The definition of
“Beneficial Owner” and “beneficially own” in Section 1(d) of the Rights Agreement is amended
by adding the following sentence at the end thereof:
	 
	 	 	“Notwithstanding the foregoing or anything in this Agreement to the contrary, Parent or
any Affiliate or Associate of Parent shall not be deemed to be the Beneficial Owner of and
shall not be deemed to beneficially own any shares of Common Stock (except for such number
of shares of Common Stock that does not exceed 1% of all outstanding Common Stock).”
	 
	5.	 	Amendment to the Definition of “Person”. The definition of “Person” in Section 1(m) of the
Rights Agreement is amended to read as follows:
	 
	 	 	“Person” shall mean any individual, firm, corporation or other entity, and shall include
any successor (by merger or otherwise) of such entity. Notwithstanding the foregoing the
definition of Parent shall not include Parent or any Affiliate or Associate of Parent.”
	 
	6.	 	Amendment to the Definition of “Section 13 Event”. The definition of “Section 13 Event” in
Section 1(o) of the Rights Agreement is amended in its entirety to read as follows:
	 
	 	 	“(b) “Section 13 Event” shall mean any event described in clauses (i), (ii) or (iii) of
Section 13(a); provided that no Section 13 Event shall occur as a result of the entry
into, or any transaction contemplated by, the Cullen/Frost Merger Agreement or any related
agreement.”
	 
	7.	 	Amendment to “Expiration Date”. The language after “at or prior to the earlier of” in
Section 7(a) of the Rights Agreement is hereby amended in its entirety to read as follows:
	 
	 	 	“(i) the Close of Business on April 16, 2010, (the “Final Expiration Date”), (ii)
immediately prior to the effective time of the merger of the Company with and

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	 	 	into Parent provided for in the Cullen/Frost Merger Agreement (the “Cullen/Frost Merger”), or
(iii) the time at which the Rights are redeemed as provided in Section 23 hereof (the
“Redemption Date”) (such earliest of the times provided in clauses (i), (ii) and (iii) being
therein referred to as the “Expiration Date”).”
	 
	8.	 	Amendment to Section 28. Section 28 of the Rights Agreement is amended by adding the
following provision:
	 
	 	 	“Furthermore, nothing in this Agreement shall be construed to give any holder of Rights or
any other Person any legal or equitable rights, remedies or claims under this Rights
Agreement by reason of the approval, execution, or delivery of the Cullen/Frost
Merger Agreement, or by reason of the consummation of any transaction contemplated by
the Cullen/Frost Merger Agreement.”
	 
	9.	 	New Section 34. There is added to the Rights Agreement a new Section 34 as follows:
	 
	 	 	“Section 34. Termination. Notwithstanding anything in this Agreement to the contrary, this
Agreement shall terminate and be of no further force and effect immediately prior to the
effective time of the Cullen/Frost Merger.”
	 
	10.	 	Effectiveness. This Amendment shall be deemed to be in force and effective immediately prior
to the execution and delivery of the Cullen Frost Merger Agreement. Except as amended hereby,
the Rights Agreement shall remain in full force and effect and shall otherwise be unaffected
hereby.
	 
	11.	 	Severability. If any term, provision, covenant or restriction contained in this Amendment is
held by a court or a federal or state regulatory agency of competent jurisdiction to be
invalid, void or unenforceable, the remainder of the terms, provisions and covenants and
restrictions contained in this Amendment shall remain in full force and effect, and shall in
no way be affected, impaired or invalidated.
	 
	12.	 	Governing Law. This Amendment shall be deemed to be a contract made under the laws of the
State of Texas and for all purposes shall be governed by and construed in accordance with the
laws of such State applicable to contracts to be made and performed entirely within such
State.
	 
	13.	 	Counterparts. This Amendment may be executed in two or more counterparts, each of which
shall be deemed to be an original, but all of which shall constitute one and the same
instrument.
	 
	14.	 	Capitalized Terms. Capitalized terms used in this Amendment and not defined herein shall
have the meanings assigned thereto in the Rights Agreement.

*                    *                    *

[Signature page follows]

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                     IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed and attested,
all as of the day and year first above written.

	 	 	 	 	 	 	 	 	 
	Attest:	 	 	 	SUMMIT BANCSHARES, INC.
	 
	 	 	 	 	 	 	 	 
	By:

	 	     /s/ Sheri Stewart
	 	 
	 	By:
	 	     /s/ Philip E. Norwood
	 

	 	 
	 	 	 	 	 	 
	 

	 	Name: Sheri Stewart
	 	 	 	 	 	Name: Philip E. Norwood
	 

	 	Title: AVP
	 	 	 	 	 	Title: President
	 
	 	 	 	 	 	 	 	 
	Attest:	 	 	 	SUMMIT BANK, N.A.
	 
	 	 	 	 	 	 	 	 
	By:

	 	     /s/ Sheri Stewart
	 	 	 	By:
	 	     /s/ Bob G. Scott
	 

	 	 
	 	 	 	 	 	 
	 

	 	Name: Sheri Stewart
	 	 	 	 	 	Name: Bob G. Scott
	 

	 	Title: AVP
	 	 	 	 	 	Title: COO/CFO

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