Document:

TSOEX 10.1 Amendment to Credit Agmt 5-23-13

Exhibit 10.1
[Execution Version]
AMENDMENT NO. 1 TO CREDIT AGREEMENT
This Amendment No. 1 to Credit Agreement (this “Amendment”), dated as of May 22, 2013 (the “Amendment Effective Date”), is entered into by TESORO LOGISTICS LP, a Delaware limited partnership (the “Borrower”), the lenders party hereto, BANK OF AMERICA, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”) and L/C Issuer, and for purposes of Section 9 hereof, the Subsidiary Guarantors (as defined in the Credit Agreement defined below).
INTRODUCTION
Reference is made to the Amended and Restated Credit Agreement dated as of January 4, 2013 (as modified from time to time, the “Credit Agreement”), among the Borrower, the lenders from time to time party thereto (collectively, the “Lenders” and individually, a “Lender”), Citibank, N.A., as syndication agent and the Administrative Agent.
Pursuant to Section 2.13(a) of the Credit Agreement, the Borrower has requested to increase the Aggregate Commitments under the Credit Agreement, and certain of the Lenders have severally agreed to increase their respective Commitments on the terms and conditions set forth herein.
THEREFORE, in connection with the foregoing and for other good and valuable consideration, the Borrower, the Lenders, and the Administrative Agent hereby agree as follows:
Section 1.    Definitions; References.  Unless otherwise defined in this Amendment, each term used in this Amendment that is defined in the Credit Agreement has the meaning assigned to such term in the Credit Agreement.
Section 2.    Amendments of Credit Agreement.  The Credit Agreement is hereby amended by:
(a)    inserting the following new clause (a)(v) in the definition of “Consolidated EBITDA” in the appropriate numerical order and re-numbering the existing clause (a)(v) as clause (a)(vi):
“(v) to the extent not otherwise permitted to be capitalized, non-recurring costs and expenses for inspection, repairs, testing and monitoring until June 30, 2014 in connection with the Borrower’s acquisition of pipeline assets pursuant to the Chevron Acquisition Agreement and”
(b)    deleting the definition of “Consolidated Leverage Ratio” in its entirety and replacing it with the following:
“Consolidated Leverage Ratio” means, as of any date of determination, the ratio of (a) the difference of (i) Consolidated Funded Indebtedness as of such date minus (ii) all cash and Cash Equivalents held by the Borrower and its Restricted 

Subsidiaries as of such date (other than any restricted cash or restricted Cash Equivalents) on a consolidated basis to (b) Consolidated EBITDA of the Borrower and its Restricted Subsidiaries on a consolidated basis for the most recently completed Measurement Period.
(c)    replacing Schedule 2.01 to the Credit Agreement in its entirety with Schedule 2.01 attached hereto.  Upon the effectiveness of this Amendment, each Lender shall have the Commitment set forth opposite such Lender’s name on Schedule 2.01 attached hereto under the caption “Commitment”.
Section 3.    Increase of Commitments.  To effectuate the increase in the Aggregate Commitments under the Credit Agreement, certain Lenders have severally agreed to increase their respective Commitments.  Effective on the Amendment Effective Date, the Commitment of each such Lender is increased to the respective Commitment set forth opposite its name on Schedule 2.01 attached hereto under the caption “Commitment”.  
Section 4.    Lender Credit Decision.  Each Lender acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender and based on the financial statements referred to in Section 6.01 of the Credit Agreement and such other documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Amendment and to agree to the various matters set forth herein.  Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement.
Section 5.    Representations and Warranties.  The Borrower represents and warrants that (a) the execution, delivery, and performance of this Amendment by the Borrower are within the corporate or equivalent power and authority of the Borrower and have been duly authorized by all necessary corporate or other organizational action, (b) this Amendment and the Credit Agreement as amended hereby constitute legal, valid, and binding obligations of the Borrower, enforceable against the Borrower in accordance with their terms, except as such enforceability may be limited by any applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting creditors' rights generally or by general principles of equity, (c) the representations and warranties of the Borrower and each other Loan Party contained in each Loan Document are true and correct in all material respects (except for such representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be true and correct in all respects) on and as of the Amendment Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (except for such representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be true and correct in all respects) as of such earlier date, and except that for purposes of this Section 5(c) the representations and warranties contained in Sections 5.05(a) and (b) of the Credit Agreement are deemed to refer to the most recent statements furnished pursuant to Sections 6.01(a) and (b) of the Credit Agreement, respectively, (d) no Default exists or will result from this Amendment, and (e) the Liens under the Collateral Documents are valid and subsisting.

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Section 6.    Effect on Loan Documents.  (a) Except as amended herein, the Credit Agreement and all other Loan Documents remain in full force and effect as originally executed.  Nothing herein shall act as a waiver of any of the Administrative Agent’s or any Lender’s rights under the Loan Documents as amended, including the waiver of any default or event of default, however denominated.  The Borrower acknowledges and agrees that this Amendment shall in no manner impair or affect the validity or enforceability of the Credit Agreement or any other Loan Document.  This Amendment is a Loan Document for the purposes of the provisions of the other Loan Documents.  Without limiting the foregoing, any breach of representations, warranties, and covenants under this Amendment may be a default or event of default under the other Loan Documents (subject to any applicable materiality thresholds and/or cure periods).
(b)    Any Loans outstanding on the Amendment Effective Date shall be re-allocated among the Lenders so that the Loans outstanding immediately following the increase in the Aggregate Commitments under this Amendment are held by the Lenders in proportion to the Lenders’ respective Applicable Percentages (giving effect to such increase).  The Borrower shall not be required to prepay any outstanding Loans to achieve the re-allocation described in the foregoing sentence but hereby agrees to the re-allocation of the Loans among the Lenders to the extent necessary to cause the outstanding Loans to be ratable in proportion to the Lenders’ respective Applicable Percentages. For the avoidance of doubt, as to each Lender executing this Amendment, no amounts shall be payable by the Borrower pursuant to Section 3.05 of the Credit Agreement in connection with any such re-allocation.
Section 7.    Effectiveness.  This Amendment shall become effective, the Credit Agreement shall be amended and the Commitments shall be increased as provided for herein as of the Amendment Effective Date, upon the satisfaction of the following conditions:
(a)    the Administrative Agent (or its counsel) shall have received counterparts hereof duly executed and delivered by a duly authorized officer of the General Partner acting on behalf of the Borrower and by the Lenders whose consent is required to effect the amendments contemplated hereby;
(b)    the Administrative Agent (or its counsel) shall have received one or more certificates dated as of the Amendment Effective Date duly executed and delivered by a secretary, assistant secretary or Responsible Officer of the General Partner, acting on behalf of the Borrower and each Subsidiary Guarantor, (w) certifying each of the Borrower's and each Subsidiary Guarantor’s existence and good standing in its state of organization, (x) certifying that, except as otherwise disclosed to the Administrative Agent, the governing documents of the Borrower and each Subsidiary Guarantor have not been modified since previously certified to the Administrative Agent and remain in full force and effect, (y) certifying and attaching the resolutions adopted by the Borrower approving this Amendment and the increase to the Commitments hereunder, and (z) certifying that, before and after giving effect to this Amendment and the increase to the Commitments hereunder, (A) the representations and warranties contained in Article V of the Credit Agreement and the other Loan Documents are true and correct in all material respects (except for such representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be true and correct in all respects) on and as of the Amendment Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and 

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correct in all material respects (except for such representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be true and correct in all respects) as of such earlier date, and except that for purposes of such certificate the representations and warranties contained in subsections (a) and (b) of Section 5.05 of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Credit Agreement, and (B) no Default exists or will result from this Amendment and the increase to the Commitments hereunder, in form and substance reasonably acceptable to the Administrative Agent; 
(c)    the Administrative Agent shall have received or shall concurrently receive for the account of each Lender increasing its Commitment pursuant hereto that has delivered evidence of an increased Commitment with respect to the Credit Agreement to the Administrative Agent (or its counsel) by 5:00 p.m. (Central time) on May 21, 2013 (such Lender, an “Increasing Lender”), an upfront fee equal to 15 basis points on the final allocated amount by which such Lender’s Commitment is increased.  Such fees shall be fully earned upon becoming due and payable in accordance with the terms hereof and shall be nonrefundable for any reason whatsoever; and
(d)    the Administrative Agent shall have received, or shall concurrently receive for the account of each Lender that has delivered an executed counterpart hereto to the Administrative Agent (or its counsel) by 5:00 p.m. (Central time) on May 21, 2013, an amendment fee equal to 2.5 basis points on such Lender’s Commitment (without giving effect to any increase thereto contemplated by this Amendment). Such fees shall be fully earned upon becoming due and payable in accordance with the terms hereof and shall be nonrefundable for any reason whatsoever.
Section 8.    Increase Fees.  In addition to the other fees referenced herein, on December 31, 2013, the Borrower shall pay to the Administrative Agent for the account of each Increasing Lender, an additional fee equal to 15 basis points on the amount by which such Increasing Lender’s Commitment on such date exceeds such Increasing Lender’s Commitment immediately prior to the Amendment Effective Date.  Such fees shall be fully earned upon becoming due and payable in accordance with the terms hereof and shall be nonrefundable for any reason whatsoever.
Section 9.    Reaffirmation of Guaranty.  By its signature hereto, each Subsidiary Guarantor represents and warrants that such Subsidiary Guarantor has no defense to the enforcement of the Subsidiary Guaranty, and that according to its terms the Subsidiary Guaranty will continue in full force and effect to guaranty the Borrower's obligations under the Credit Agreement and the other amounts described in the Subsidiary Guaranty following the execution of this Amendment.
Section 10.    Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
Section 11.    Miscellaneous.  The miscellaneous provisions set forth in Article X of the Credit Agreement apply to this Amendment.  This Amendment may be signed in any number of 

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counterparts, each of which shall be an original, and may be executed and delivered by telecopier or other electronic imaging means.
Section 12.    ENTIRE AGREEMENT.  THIS AMENDMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.
[Signature pages follows.]

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EXECUTED as of the first date above written.
	
				
	 
	 
	TESORO LOGISTICS LP

	 
	 
	 
	 

	 
	 
	By:
	TESORO LOGISTICS GP, LLC, its

	 
	 
	 
	 general partner

	 
	 
	 
	 

	 
	 
	By:
	/s/ TRACY D. JACKSON

	 
	 
	Name:
	Tracy D. Jackson

	 
	 
	Title:
	Vice President and Treasurer

	 
	 
	 
	 

	 
	 
	TESORO LOGISTICS OPERATIONS LLC

	 
	 
	 
	 

	 
	 
	By:
	TESORO LOGISTICS LP, its

	 
	 
	 
	 sole member

	 
	 
	 
	 

	 
	 
	By:
	TESORO LOGISTICS GP, LLC, its

	 
	 
	 
	 general partner

	 
	 
	 
	 

	 
	 
	By:
	/s/ TRACY D. JACKSON

	 
	 
	Name:
	Tracy D. Jackson

	 
	 
	Title:
	Vice President and Treasurer

	 
	 
	 
	 

	 
	 
	TESORO LOGISTICS FINANCE CORP.

	 
	 
	 
	 

	 
	 
	By:
	/s/ TRACY D. JACKSON

	 
	 
	Name:
	Tracy D. Jackson

	 
	 
	Title:
	Vice President and Treasurer

    

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	TESORO LOGISTICS PIPELINES LLC

	 
	 
	 
	 

	 
	 
	By:
	TESORO LOGISTICS OPERATIONS 

	 
	 
	 
	 LLC, its sole member

	 
	 
	 
	 

	 
	 
	By:
	TESORO LOGISTICS LP, its

	 
	 
	 
	 sole member

	 
	 
	 
	 

	 
	 
	By:
	TESORO LOGISTICS GP, LLC, its

	 
	 
	 
	 general partner

	 
	 
	 
	 

	 
	 
	By:
	/s/ TRACY D. JACKSON

	 
	 
	Name:
	Tracy D. Jackson

	 
	 
	Title:
	Vice President and Treasurer

	 
	 
	 
	 

	 
	 
	TESORO HIGH PLAINS PIPELINE
COMPANY LLC

	 
	 
	 
	 

	 
	 
	By:
	TESORO LOGISTICS PIPELINES 

	 
	 
	 
	 LLC, its sole member

	 
	 
	 
	 

	 
	 
	By:
	TESORO LOGISTICS OPERATIONS 

	 
	 
	 
	 LLC, its sole member

	 
	 
	 
	 

	 
	 
	By:
	TESORO LOGISTICS LP, its

	 
	 
	 
	 sole member

	 
	 
	 
	 

	 
	 
	By:
	TESORO LOGISTICS GP, LLC, its

	 
	 
	 
	 general partner

	 
	 
	 
	 

	 
	 
	By:
	/s/ TRACY D. JACKSON

	 
	 
	Name:
	Tracy D. Jackson

	 
	 
	Title:
	Vice President and Treasurer

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	TESORO LOGISTICS NORTHWEST 
PIPELINE LLC

	 
	 
	 
	 

	 
	 
	By:
	TESORO LOGISTICS PIPELINES

	 
	 
	 
	 LLC, its sole member

	 
	 
	 
	 

	 
	 
	By:
	TESORO LOGISTICS OPERATIONS

	 
	 
	 
	 LLC, its sole member

	 
	 
	 
	 

	 
	 
	By:
	TESORO LOGISTICS LP, its

	 
	 
	 
	 sole member

	 
	 
	 
	 

	 
	 
	By:
	TESORO LOGISTICS GP, LLC, its

	 
	 
	 
	 general partner

	 
	 
	 
	 

	 
	 
	By:
	/s/ TRACY D. JACKSON

	 
	 
	Name:
	Tracy D. Jackson

	 
	 
	Title:
	Vice President and Treasurer

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	BANK OF AMERICA, N.A.,

	 
	 
	as Administrative Agent

	 
	 
	 
	 

	 
	 
	By:
	 /s/ ANGELO M. MARTORANA

	 
	 
	 
	Angelo M. Martorana

	 
	 
	 
	Assistant Vice President

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	BANK OF AMERICA, N.A.,

	 
	 
	as a Lender and L/C Issuer

	 
	 
	 
	 

	 
	 
	By:
	 /s/ RONALD E. MCKAIG

	 
	 
	 
	Ronald E. McKaig

	 
	 
	 
	Managing Director

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	CITIBANK, N.A., as a Lender and as

	 
	 
	syndication agent

	 
	 
	 
	 

	 
	 
	By:
	/s/ TODD MOGIL

	 
	 
	Name:
	Todd Mogil

	 
	 
	Title:
	Vice President

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	ABN-AMRO CAPITAL USA LLC

	 
	 
	 
	 

	 
	 
	By:
	/s/ DARRELL HOLLEY

	 
	 
	Name:
	Darrell Holley

	 
	 
	Title:
	Managing Director

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	By:
	/s/ CASEY LOWARY

	 
	 
	Name:
	Casey Lowary

	 
	 
	Title:
	Executive Director

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	SUNTRUST BANK

	 
	 
	 
	 

	 
	 
	By:
	/s/ BENJAMIN A. JOHNSON

	 
	 
	Name:
	Benjamin A. Johnson

	 
	 
	Title:
	Director

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	WELLS FARGO BANK, NATIONAL 

	 
	 
	ASSOCIATION

	 
	 
	 
	 

	 
	 
	By:
	/s/ MICHAEL REAL

	 
	 
	Name:
	Michael Real

	 
	 
	Title:
	Director

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	ROYAL BANK OF CANADA

	 
	 
	 
	 

	 
	 
	By:
	/s/ JASON YORK

	 
	 
	Name:
	Jason York

	 
	 
	Title:
	Authorized Signatory

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	JPMORGAN CHASE BANK, N.A.

	 
	 
	 
	 

	 
	 
	By:
	/s/ THOMAS OKAMOTO

	 
	 
	Name:
	Thomas Okamoto

	 
	 
	Title:
	Authorized Officer

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	THE BANK OF TOKYO-MITSUBISHI

	 
	 
	UFJ, LTD.

	 
	 
	 
	 

	 
	 
	By:
	/s/ MARIA FERRADAS

	 
	 
	Name:
	Maria Ferradas

	 
	 
	Title:
	Vice President

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	BARCLAYS BANK PLC

	 
	 
	 
	 

	 
	 
	By:
	/s/ VANESSA KURBATSKIY

	 
	 
	Name:
	Vanessa Kurbatskiy

	 
	 
	Title:
	Vice President

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	DEUTSCHE BANK TRUST COMPANY 

	 
	 
	AMERICAS

	 
	 
	 
	 

	 
	 
	By:
	/s/ MICHAEL GETZ

	 
	 
	Name:
	Michael Getz

	 
	 
	Title:
	Vice President

	 
	 
	 
	 

	 
	 
	By:
	/s/ DUSAN LAZAROV

	 
	 
	Name:
	Dusan Lasarov

	 
	 
	Title:
	Director

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	UBS AG, STAMFORD BRANCH

	 
	 
	 
	 

	 
	 
	By:
	/s/ LANA GIFAS

	 
	 
	Name:
	Lana Gifas

	 
	 
	Title:
	Director

	 
	 
	 
	 

	 
	 
	By:
	/s/ JOSELIN FERNANDES

	 
	 
	Name:
	Joselin Fernandes

	 
	 
	Title:
	Associate Director

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	MORGAN STANLEY BANK, N.A.

	 
	 
	 
	 

	 
	 
	By:
	/s/ KELLY CHIN

	 
	 
	Name:
	Kelly Chin

	 
	 
	Title:
	Authorized Signatory

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	COMERICA BANK

	 
	 
	 
	 

	 
	 
	By:
	/s/ JOEY POWELL

	 
	 
	Name:
	Joey Powell

	 
	 
	Title:
	Vice President

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	PNC BANK, NATIONAL ASSOCIATION

	 
	 
	 
	 

	 
	 
	By:
	/s/ CHAD GREENE

	 
	 
	Name:
	Chad Greene

	 
	 
	Title:
	Officer

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	THE ROYAL BANK OF SCOTLAND PLC

	 
	 
	 
	 

	 
	 
	By:
	/s/ JOHN PREECE

	 
	 
	Name:
	John Preece

	 
	 
	Title:
	Authorised Signatory

Signature Page to Amendment No. 1 to Credit Agreement

	
				
	 
	 
	RAYMOND JAMES BANK, N.A.

	 
	 
	 
	 

	 
	 
	By:
	/s/ SCOTT G. AXELROD

	 
	 
	Name:
	Scott G. Axelrod

	 
	 
	Title:
	Vice President

Signature Page to Amendment No. 1 to Credit Agreement

SCHEDULE 2.01
COMMITMENTS
AND APPLICABLE PERCENTAGES

	
			
	Lender
	Commitment
	Applicable Percentage

	Bank of America, N.A.
	$59,250,000.00
	10.304347826%

	Citibank, N.A.
	$58,750,000.00
	10.217391304%

	ABN-AMRO Capital USA LLC
	$41,250,000.00
	7.173913043%

	SunTrust Bank
	$41,250,000.00
	7.173913043%

	Wells Fargo Bank, National Association
	$41,250,000.00
	7.173913043%

	JPMorgan Chase Bank, N.A.
	$40,250,000.00
	7.000000000%

	Royal Bank of Canada
	$40,250,000.00
	7.000000000%

	Barclays Bank PLC
	$34,500,000.00
	6.000000000%

	Deutsche Bank Trust Company America
	$34,500,000.00
	6.000000000%

	The Bank of Tokyo-Mitsubishi UFJ, Ltd.
	$34,500,000.00
	6.000000000%

	UBS AG, Stamford Branch
	$34,500,000.00
	6.000000000%

	Morgan Stanley Bank, N.A.
	$28,750,000.00
	5.000000000%

	Comerica Bank
	$28,000,000.00
	4.869565217%

	PNC Bank, National Association
	$25,000,000.00
	4.347826087%

	The Royal Bank of Scotland plc
	$23,000,000.00
	4.000000000%

	Raymond James Bank, N.A.
	$10,000,000.00
	1.739130435%

	TOTAL
	$575,000,000.00
	100.000000000%

Schedule 2.01 to Credit Agreementex10410k033113.htm

 

 

Exhibit 10.4

 

Execution Version

 

FIRST AMENDMENT AGREEMENT

FIRST AMENDMENT AGREEMENT (this “Agreement”) dated as of August 1, 2011 by and among (1) Seneca Foods Corporation, Seneca Snack Company and Seneca Foods, LLC (collectively, the “Borrowers”), (2) Marion Foods, Inc., Lebanon Valley Cold Storage, LLC and Lebanon Valley Cold Storage, LP (collectively, the “Guarantors”), (3) the financial institutions party to the Loan and Security Agreement (as defined below) as lenders (collectively, the “Lenders” and individually, a “Lender”), and (4) Bank of America, N.A. (“Bank of America”) as agent (the “Agent”) for the Lenders and as Issuing Bank with respect to a certain Second Amended and Restated Loan and Security Agreement dated as of July 20, 2011, by and among the Borrowers, the Guarantors, the Lenders, the Agent, the Issuing Bank and RBS Citizens, NA. as Syndication Agent (the “Loan and Security Agreement”).

W I T N E S S E T H:

WHEREAS, the Borrowers have requested that the Lenders agree to amend certain provisions of the Loan and Security Agreement; and

WHEREAS, the Lenders have agreed to such amendments, on the terms and conditions set forth herein.

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

§1. Definitions. Capitalized terms used herein without definition that are defined in the Loan and Security Agreement shall have the same meanings herein as therein.

§2. Ratification of Existing Agreements. All o the Obligors’ obligations and liabilities to the Agent, the Issuing Bank and the Lenders as evidenced by or otherwise arising under the Loan and Security Agreement, the Notes and the other Loan Documents, are, by each Obligor’s execution of this Agreement, ratified and confirmed in all respects. In addition, by each Obligor’s execution of this Agreement, each of the Obligors represents and warrants that no Obligor has any counterclaim, right of set-off or defense of any kind with respect to such obligations and liabilities.

§3. Representations and Warranties. Each of the Obligors hereby represents and warrants to the Agent, the Issuing Bank and Lenders that all of the representations and warranties made by the Obligors in the Loan and Security Agreement, the Notes and the other Loan Documents are true in all material respects on the date hereof as if made on and as of the date hereof, except to the extent that such representations and warranties relate expressly to an earlier date.

§4. Conditions Precedent. The effectiveness of the amendments contemplated hereby shall be subject to the satisfaction on or before September 1, 2011 of each of the following conditions precedent:

(a)  Representations and Warranties. All of the representations and warranties made by the Obligors herein, whether directly or incorporated by reference, shall be true and correct on the date hereof except as provided in §3 hereof.

(b)  Performance; No Event of Default. The Obligors shall have performed and complied in all respects with all terms and conditions herein required to be performed or complied with by them prior to or at the time hereof, and there shall exist no Default or Event of Default.

(c)  Action. All requisite corporate or other action necessary for the valid execution, delivery and performance by the Obligors of this Agreement and all other instruments and documents delivered by the Obligors in connection herewith shall have been duly and effectively taken.

(d)  Expenses and Fees. The Borrowers shall have paid to the Agent the reasonable fees and expenses of counsel to the Agent in connection with the preparation of this Agreement.

(e)  Pledged Aliens, Inc. Notes. Parent shall have delivered to the Agent, together with allonge endorsements thereto, certain promissory notes in the aggregate principal amount of up to $10,000,000 executed and delivered by Aliens, Inc. in favor of Parent which are pledged by Parent as Collateral to secure Obligations pursuant to the terms of the Pledge Agreement and the Loan and Security Agreement.

(f)  Aliens, Inc. Loan Documents. The Agent shall have received certified copies of the Aliens, Inc. Second Amended and Restated Credit Agreement and related documents.

(g)  Hancock Amended and Restated Note Agreement. The Agent shall have received a certified copy of the amendment to the Hancock Amended and Restated Note Agreement in form and substance satisfactory to the Required Lenders.

(h)  Delivery. The Obligors, the Agent, the Required Lenders and the Issuing Bank shall have executed and delivered this Agreement. In addition, the Obligors shall have executed and delivered such further instruments and taken such further action as the Agent and the Required Lenders may have reasonably requested, in each case further to effect the purposes of this Agreement, the Loan and Security Agreement and the other Loan Documents.

§5.   Amendments to the Loan and Security Agreement.

(a)  Amendment to Section 2.1.7 of the Loan and Security Agreement. Section 2.1.7 of the Loan and Security Agreement is hereby amended by deleting “$150,000,000” in the fourth line thereof and substituting $200,000,000” therefore.

(b)  Amendment to Section 10.2.6 of the Loan and Security Agreement. Section 10.2.6 of the Loan and Security Agreement is hereby amended and restated in its entirety to read as follows:

“10.2.6. Loans. Make any loans or other advances of money to any Person, except (a) advances to an officer or employee for salary, travel expense, commissions and similar items in the Ordinary Course of Business; so long as such advances do not exceed $1,000,000 in the aggregate at any time outstanding; (b) prepaid expenses and extensions of trade credit made in the Ordinary Course of Business; (c) deposits with financial institutions permitted hereunder; (d) the purchase of loans to Aliens, Inc. by Parent in the aggregate principal amount not to exceed $10,000,000 under that certain Second Amended and Restated Credit Agreement dated as of September 22, 2010, by and among Aliens, Inc., Bank of America, NA. as administrative agent, swing line lender and letter of credit issuer, and the other financial institutions from time to time party thereto, as amended, modified or restated from time to time in accordance with the terms thereof, and (e) as long as no Default or Event of Default exists, intercompany loans by a Borrower to another Borrower.”

§6.             Miscellaneous Provisions.

(a)  Except as otherwise expressly provided, by this Agreement, all of the respective terms, conditions and provisions of the Loan and Security Agreement, the Notes and the other Loan Documents shall remain the same. The Loan and Security Agreement, as amended hereby, shall continue in full force and effect, and this Agreement and the Loan and Security Agreement, shall be read and construed as one instrument.

(b)  THIS AGREEMENT, UNLESS OTHERWISE SPECIFIED, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ANY CONFLICT OF LAW PRINCIPLES (BUT GIVING EFFECT TO FEDERAL LAWS RELATING TO NATIONAL BANKS).

(c)  This Agreement may be executed in any number of counterparts, but all such counterparts shall together constitute but one instrument. In making proof of this Agreement it shall not be necessary to produce or account for more than one counterpart signed by each party hereto by and against which enforcement hereof is sought. A facsimile of an executed counterpart shall have the same effect as the original executed counterpart.

           IN WITNESS WHEREOF, the undersigned have duly executed this First Amendment

Agreement as of the date first set forth above.

SENECA FOODS CORPORATION

 

            By:                      /s/Roland E. Breunig                                                      

Name: Roland E. Breunig

Title:    Chief Financial Officer

 

SENECA SNACK COMPANY

 

 

By:            /s/John D. Exner                                           

 

Name:            John D. Exner

 

Title:            Assistant Secretary

 

SENECA FOODS, LLC

 

                                                                              By:           /s/Roland E. Breunig                                                      

 Name: Roland E. Breunig

            Title: Treasurer

 

MARION FOODS, INC.

 

By:           /s/Roland E. Breunig                                                      

Name: Roland E. Breunig

 

Title:               Treasurer

 

LEBANON VALLEY COLD STORAGE, LLC

 

By:           /s/John D. Exner                                           

Name: John D. Exner

Title:  Assistant Secretary

 

LEBANON VALLEY COLD STORAGE, LP

By:           Lebanon Valley Cold Storage, LLC,

Its General Partner

By:           /s/John D. Exner                                           

Name:  John D. Exner

Title:  Assistant Secretary

 

 

 

 

[Signature page to First Amendment Agreement -Seneca]

	  

 

  

  

  

 

BANK OF AMERICA, NA.,

as Agent, Lender and Issuing Bank

By:           /s/Jeffrey J. White                                           

Name:  Jeffrey J. White

Title:  Senior Vice President

[Signature page to First Amendment]

  

  

  

 

RBS CITIZENS BUSINESS CAPITAL, a division

of  RBS ASSET FINANCE, INC., a subsidiary of

RBS CITIZENS, N.A.,

 as a Lender

                                         By:                      /s/John D. Bobbin                                           

         Name:  John D. Bobbin

         Title:  Vice President

[Signature page to First Amendment Agreement-Seneca]

  

  

  

 

 

COOPERATIEVE CENTRALE RAIFFETSEN­

BOERENLEENBANK BA., “RABOBANK

NEDERLANU”, NEW YORK BRANCH, as a

        Lender

	  

                                                                By:           /s/Betty Janelle                                               

                                                                Name: Betty Janelle

                                                                Title: Executive Director

                                                                 By:           /s/Brett Delfino                                          

                                                                 Name: Brett Delfino

                                                                 Title: Executive Director

[Signature page to First Amendment Agreement - Seneca]

  

  

  

 

 

MANUFACTURERS AND TRADERS TRUST

COMPANY, as a Lender

By:           /s/Jon M. Fogle 

Name: Jon M. Fogle

Title:  Vice President

                                               [Signature page to First Amendment Agreement - Seneca]

  

  

  

U.S. BANK NATIONAL ASSOCIATION,

as a Lender

By:           /s/Jeffrey S. Gruender                                                      

Name: Jeffrey S. Gruender

Title: Vice President

[Signature page to First Amendment Agreement - Seneca]

  

  

  

 

BMO HARRIS BANK, N.A., as a Lender

         By:                      /s/William Kennedy                                           

         Name: William Kennedy

                                                                                         Title: Vice President

[Signature page to First Amendment Agreement - Seneca]

  

  

  

 

GENERAL ELECTRIC CAPITAL

CORPORATION, as a Lender

By:           /s/Daniel T. Eubanks                                                      

Name:  Daniel T. Eubanks

Title:  Duly Authorized Signatory

[Signature page to First Amendment Agreement - Seneca]

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