Document:

Exhibit 10.1

 

CASTLE
CREEK FINANCIAL

 

July 29,
2010

 

Paul W.
Taylor

Executive
Vice President and Chief Operating Officer

Guaranty
Bancorp

1331
Seventeenth Street

Suite 300

Denver, CO
80202-1566

 

Via email:
paul.taylor@guarantybankco.com

 

Dear Paul:

 

Pursuant to Section 6 of the
Letter Agreement between Centennial Bank Holdings, Inc., the predecessor
to Guaranty Bancorp (‘Guaranty”), and Castle Creek Financial (“CCF”) dated November 8,
2006, this letter will confirm that CCF is formally terminating the agreement
pursuant to the terms of Section 6. 
Although the termination provision of the Letter Agreement stipulates 30
days written notice, you agree that by executing and returning this letter,
Guaranty hereby waives such 30 day notice provision, and that all other
provisions as provided in Section 6 of the Letter Agreement shall survive
pursuant to the terms therein.

 

Please confirm that the foregoing is
in accordance with your understanding by signing and returning to us a
duplicate of this letter, which thereupon shall constitute acceptance of CCF’s
termination of its role as financial advisor to Guaranty.

 

Very truly yours,

 

	
  Castle Creek Financial, LLC

  	
   

  	
  Guaranty Bancorp

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ William J. Ruh

  	
   

  	
  By:

  	
  /s/ Paul W. Taylor

  
	
  Name:

  	
  Willam J. Ruh

  	
   

  	
  Name:

  	
  Paul W. Taylor

  
	
  Title:

  	
  Vice President

  	
   

  	
  Title:

  	
  Executive Vice President and Chief
  Operating OfficerExhibit 10.1

 

INCREMENTAL FACILITY AMENDMENT/

SECOND AMENDMENT TO

AMENDED AND RESTATED CREDIT AGREEMENT

AND JOINDER

 

THIS SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT AND
JOINDER (the “Incremental Facility Amendment”) dated
as of August 3, 2010 is by and among AGA MEDICAL HOLDINGS, INC.,
a Delaware corporation (“Holdings”), AGA MEDICAL
CORPORATION, a Minnesota corporation (the “Borrower”), each
of the other Loan Parties (as defined in the Existing Credit Agreement defined
below), each of the financial institutions identified on the signature pages
hereto as a New Revolving Lender (collectively, the “New Revolving Lenders”
and each individually a “New Revolving Lender”), and BANK OF AMERICA, N.A., as administrative agent for the
Lenders (defined below) (the “Administrative  Agent”).

 

W I T N E S S E T H

 

WHEREAS, Holdings and the Borrower are party to that certain
Amended and Restated Credit Agreement dated as of April 28, 2006 (as amended,
restated, supplemented or otherwise modified from time to time, the “Existing
Credit Agreement” and as amended pursuant to this Incremental Facility
Amendment, the “Amended Credit Agreement”), with the several financial
institutions from time to time party thereto, as lenders (collectively, the “Lenders”
and each individually a “Lender”) and the Administrative Agent;

 

WHEREAS, simultaneously with the Incremental Revolver
(defined below), pursuant to Section 2.08 of the Existing Credit Agreement, the
Borrower has elected to terminate in full the Revolving Commitment in effect on
the date of this Incremental Facility Amendment (the “Commitment Reduction”);

 

WHEREAS, simultaneously with the Commitment Reduction,
pursuant to Section 2.20 of the Existing Credit Agreement,  the
Borrower has requested to add additional revolving commitments in a principal
amount equal to $40,000,000 (the “Incremental Revolver”);

 

WHEREAS, the New Revolving Lenders have agreed to provide
the Incremental Revolver and to become parties to the Amended Credit Agreement;

 

WHEREAS, pursuant to Section 2.20 of the Existing Credit
Agreement, this  “Incremental Facility
Amendment may, without the consent of any other Lenders, effect such amendments
to this Agreement and the other Loan Documents as may be necessary or
appropriate, in the opinion of the Administrative Agent, to effect the
provisions of this Section 2.20 (including voting provisions applicable to the
Additional Lenders comparable to the provisions of clause (B) of the second
proviso of Section 9.02(b))”.

 

 

WHEREAS, Holdings, the Borrower, the New Revolving Lenders
and the Administrative Agent have agreed to amend the Existing Credit Agreement
as set forth in this Incremental Facility Amendment to implement the
Incremental Revolver by, among other things, amending the definition of Revolving
Commitment to reflect the Commitment Reduction and the implementation of the
Incremental Revolver;

 

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

 

PART 1

DEFINITIONS

 

SUBPART 1.1  Certain Definitions.  The following terms used in this Incremental
Facility Amendment, including its preamble and recitals, have the following
meanings:

 

“Second Amendment Effective Date” is defined in Subpart 4.1.

 

SUBPART 1.2  Other Definitions.  Unless otherwise defined herein or the
context otherwise requires, terms used in this Incremental Facility Amendment,
including its preamble and recitals, have the meanings provided in the Existing
Credit Agreement.

 

PART 2

AMENDMENTS

 

Effective
on (and subject to the occurrence of) the Second Amendment Effective Date, the
Existing Credit Agreement is hereby amended in accordance with this Part 2.  Except as so amended, the Existing Credit Agreement
shall continue in full force and effect.

 

SUBPART
2.1  Amendments to Existing  Credit
Agreement.

 

(a)                                  Section 1.01 of the
Existing Credit Agreement is hereby amended as follows:

 

(i)                                     The definition
of “Revolving Commitment” is hereby deleted in its entirety and replaced with
the following:

 

“Revolving Commitment” means, at all times following the Second
Amendment Effective Date, with respect to each Lender, the commitment, if any,
of such Lender to make Revolving Loans and to acquire participations in Letters
of Credit and Swingline Loans hereunder, expressed as an amount representing
the maximum possible aggregate amount of such Lender’s Revolving Exposure
hereunder, as such commitment may be (a) reduced from time to time pursuant to
Section 2.08 and (b) reduced or increased from time to time pursuant to 

 

2

 

assignments by or to such Lender pursuant to Section 9.04.  The initial amount of each Lender’s Revolving
Commitment is set forth on Schedule 2.01 or in the Assignment and
Assumption pursuant to which such Lender shall have assumed its Revolving
Commitment, as applicable.  The aggregate
amount of the Lenders’ Revolving Commitments on the Second Amendment Effective
Date is $40,000,000.

 

(ii)                                  The definition
of “Revolving Loan Applicable Rate” is hereby deleted in its entirety and
replaced with the following:

 

“Revolving Loan Applicable Rate” means, for any day with respect
to (a) any Revolving Loan that is an ABR Loan, 3.50%, (b) any Revolving Loan
that is a Eurodollar Loan, 4.50%, or (c) the commitment fees payable hereunder
in respect of the Revolving Commitments, 0.75%.

 

(iii)                               The definition
of “Revolving Maturity Date” is hereby deleted in its entirety and replaced
with the following:

 

“Revolving Maturity Date” means January 28, 2013; provided, that
notwithstanding the foregoing, the Revolving Maturity Date will be January 28,
2012 if both the Senior Subordinated Notes and the Sponsor Preferred Stock have
not been repaid, redeemed, repurchased, defeased (on terms and conditions
satisfactory to the Administrative Agent) or otherwise retired in full in one
or more transactions otherwise permitted under this Agreement on or prior to
January 28, 2012.

 

(iv)                              The following
definitions are hereby added to Section 1.01 of the Existing Credit Agreement
in appropriate alphabetical order:

 

“Second Amendment Effective Date” means August 3, 2010.

 

(b)                                 Section 2.01 of the
Existing Credit Agreement is hereby amended by deleting clause (b)(ii) in its
entirety and replacing it with the following:

 

(ii) [reserved]

 

(c)                                  Schedule 2.01 of the
Existing Credit Agreement is hereby deleted in its entirety and replaced with Schedule
2.01 attached hereto.

 

PART 3

LENDER JOINDER

 

From
and after the Second Amendment Effective Date, by execution of this Incremental
Facility Amendment, each Person identified on the signature pages hereto as a
New Revolving Lender hereby acknowledges, agrees and confirms that, by its
execution of this Incremental 

 

3

 

Facility
Amendment, such Person will be deemed to be a party to the Amended Credit
Agreement and a “Lender” and a “Revolving Lender” for all purposes of the
Amended Credit Agreement, and shall have all of the obligations of a Lender and
Revolving Lender thereunder as if it had executed the Amended Credit
Agreement.  Such Person hereby ratifies,
as of the date hereof, and agrees to be bound by, all of the terms, provisions
and conditions applicable to the Lenders and Revolving Lenders contained in the
Amended Credit Agreement.

 

PART 4

CONDITIONS TO EFFECTIVENESS

 

SUBPART 4.1  Second Amendment
Effective Date.  This Incremental
Facility Amendment shall be and become effective as of the date hereof (the “Second
Amendment Effective Date”) when all of the conditions set forth in this Part
4 shall have been satisfied.

 

SUBPART 4.2  Execution of
Counterparts of Incremental Facility Amendment.  The Administrative Agent shall have received
counterparts (or other evidence of execution, including telephonic message,
satisfactory to the Administrative Agent) of this Incremental Facility
Amendment, which collectively shall have been duly executed on behalf of each
of the parties hereto.

 

SUBPART 4.3  Corporate
Documents.  The Administrative Agent
shall have received each of the following:

 

(i)                                     Charter Documents.  Copies of the articles or certificates of
incorporation or other charter documents of each of the Loan Parties certified
to be true and complete as of a recent date by the appropriate Governmental Authority
of the state or other jurisdiction of its incorporation or organization and
certified by a secretary or assistant secretary to be true and correct as of
the Second Amendment Effective Date.

 

(ii)                                  Bylaws.  A copy of the bylaws of each of the Loan Parties
certified by a secretary or assistant secretary to be true and correct as of
the Second Amendment Effective Date.

 

(iii)                               Resolutions.  Copies of resolutions of the Board of
Directors of each of the Loan Parties approving and adopting this Incremental
Facility Amendment and the transactions contemplated therein and authorizing
execution and delivery thereof, certified by a secretary or assistant secretary
of such Person to be true and correct and in force and effect as of the Second
Amendment Effective Date.

 

(iv)                              Good Standing.  Copies of certificates of good standing,
existence or its equivalent with respect to each of the Loan Parties certified
as of a recent date by the appropriate Governmental Authority of the state or
other jurisdiction of incorporation or organization.

 

4

 

(v)                                 Incumbency.  An incumbency certificate of each of the Loan
Parties certified by a secretary or assistant secretary to be true and correct
as of the Second Amendment Effective Date.

 

SUBPART
4.4                     Legal Opinion.  The Administrative Agent shall have received
multiple counterparts of opinions of counsel for the Loan Parties, in form and
substance satisfactory to the Administrative Agent.

 

SUBPART 4.5                     Officer’s
Certificates.  The Administrative
Agent shall have received a certificate or certificates executed by a senior
officer of the Borrower as of the Second Amendment Effective Date, in form and
substance reasonably satisfactory to the Administrative Agent, stating that (i)
each Loan Party is in compliance with all existing material financial
obligations, (ii) all governmental, shareholder and material third party
consents and approvals, if any, with respect to the Incremental Facility
Amendment and the transactions contemplated thereby have been obtained, (iii)
no action, suit, investigation or proceeding is pending or, to the knowledge of
the Borrower, threatened in any court or before any arbitrator or governmental
instrumentality that purports to affect any Loan Party or any transaction
contemplated by the Loan Documents, if such action, suit, investigation or
proceeding could reasonably be expected to have a Material Adverse Effect, (iv)
immediately after giving effect to the Incremental Facility Amendment and the
making of the Loans hereunder, (A) no Default or Event of Default exists and
(B) all representations and warranties contained herein and in the other Loan
Documents are true and correct in all material respects as of the Second
Amendment Effective Date (except for those which expressly relate to an earlier
date, in which case, they are true and correct in all material respects as of
such date), and (v) immediately prior to and after giving effect to the
Incremental Revolver, the Borrower shall be in compliance on a Pro Forma basis
with the Financial Performance Covenants recomputed as of the last day of the
most recently ended fiscal quarter of the Borrower for which financial
statements are available.

 

SUBPART 4.6                     Payment of Fees.  The Administrative Agent shall have received
the fees, costs and expenses required to be paid on or before the Second
Amendment Effective Date, including, without limitation, any upfront fees
payable to the Administrative Agent for the benefit of the New Revolving
Lenders.

 

SUBPART 4.7                     Administrative
Questionnaires.  The
Administrative Agent shall have received an Administrative Questionnaire from
each New Revolving Lender.

 

SUBPART 4.8                     Commitment
Reduction.  The
Administrative Agent shall have received notice from the Borrower of its
intention to effectuate the Commitment Reduction contingent only upon the
effectiveness of the Incremental Revolver and the Commitment Reduction shall
occur simultaneously with the effectiveness of this Incremental Facility
Amendment.

 

5

 

PART 5

MISCELLANEOUS

 

SUBPART 5.1                                             Representations
and Warranties.  The
Borrower hereby represents and warrants to the Administrative Agent and the New
Revolving Lenders that, after giving effect to this Incremental Facility
Amendment, (a) no Default or Event of Default exists under the Amended Credit
Agreement and (b) the representations and warranties set forth in Article III
of the Existing Credit Agreement are, subject to the limitations set forth
therein, true and correct in all material respects as of the date hereof
(except for those which expressly relate to an earlier date, in which case,
they are true and correct in all material respects as of such earlier date).

 

SUBPART 5.2                                             Reaffirmation
of Security Interests.  Each
Loan Party (i) affirms that each of the Liens granted in or pursuant to the
Credit Documents are valid and subsisting and (ii) agrees that this Incremental
Facility Amendment shall in no manner impair or otherwise adversely effect any
of the Liens granted in or pursuant to the Security Documents.

 

SUBPART 5.3                                             Reaffirmation
of Guaranty.  Holdings
and each Subsidiary Loan Party (i) acknowledges and consents to all of the
terms and conditions of this Incremental Facility Amendment, (ii) affirms all
of its obligations under the Loan Documents and (iii) agrees that this
Incremental Facility Amendment and all documents executed in connection
herewith do not operate to reduce or discharge such Person’s obligations under
the Credit Agreement or the other Loan Documents.

 

SUBPART 5.4                                             Cross-References.  References in this Incremental Facility
Amendment to any Part or Subpart are, unless otherwise specified, to such Part
or Subpart of this Incremental Facility Amendment.

 

SUBPART 5.5                                             Instrument
Pursuant to Existing Credit Agreement.  This Incremental Facility Amendment is
executed pursuant to the Existing Credit Agreement and shall (unless otherwise
expressly indicated therein) be construed, administered and applied in
accordance with the terms and provisions of the Existing Credit Agreement.

 

SUBPART 5.6                                            References in
Other Credit Documents.  At
such time as this Incremental Facility Amendment shall become effective
pursuant to the terms of Subpart 3.1, all references to the “Credit
Agreement” shall be deemed to refer to the Existing Credit Agreement as amended
by this Incremental Facility Amendment.

 

SUBPART 5.7                                             Counterparts/Telecopy.  This Incremental Facility Amendment may be
executed by the parties hereto in several counterparts, each of which shall be
deemed to be an original and all of which shall constitute together but one and
the same agreement.  Delivery of executed
counterparts of the Incremental Facility Amendment by telecopy shall be
effective as an original and shall constitute a representation that an original
shall be delivered.

 

SUBPART 5.8                                             Governing Law.  THIS INCREMENTAL FACILITY AMENDMENT SHALL BE
GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK.

 

6

 

SUBPART 5.9                                             Successors and
Assigns.  This Incremental Facility
Amendment shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and assigns.

 

SUBPART 5.10                                       General.  Except as amended hereby, the Existing Credit
Agreement and all other credit documents shall continue in full force and
effect.

 

[The remainder of this page
is intentionally left blank.]

 

7

 

IN
WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this
Incremental Facility Amendment to be duly executed and delivered as of the date
first above written.

 

	
  LOAN
  PARTIES:

  	
  AGA
  MEDICAL CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John R. Barr

  
	
   

  	
  Name:

  	
  John
  R. Barr

  
	
   

  	
  Title:

  	
  President
  & CEO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  AGA
  MEDICAL HOLDINGS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John R. Barr

  
	
   

  	
  Name:

  	
  John
  R. Barr

  
	
   

  	
  Title:

  	
  President
  & CEO

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  AGA
  MEDICAL LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John R. Barr

  
	
   

  	
  Name:

  	
  John
  R. Barr

  
	
   

  	
  Title:

  	
  President
  & CEO of member

  
	
   

  	
   

  
	
   

  	
  AMPLATZER
  MEDICAL SALES CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John R. Barr

  
	
   

  	
  Name:

  	
  John
  R. Barr

  
	
   

  	
  Title:

  	
  President
  & CEO

  

 

 

	
  ADMINISTRATIVE
  AGENT:  

  	
  BANK
  OF AMERICA, N.A., as Administrative Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert Klawinski

  
	
   

  	
  Name:

  	
  Robert
  Klawinski

  
	
   

  	
  Title:

  	
  Senior
  Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
  NEW
  REVOLVING LENDERS: 

  	
  BANK
  OF AMERICA, N.A., as a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert Klawinski

  
	
   

  	
  Name:

  	
  Robert
  Klawinski

  
	
   

  	
  Title:

  	
  Senior
  Vice President

  

 

 

	
   

  	
  Wells
  Fargo Bank, National Association,

  
	
   

  	
  as
  a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Kyle R. Holtz

  
	
   

  	
  Name:

  	
  Kyle
  R. Holtz

  
	
   

  	
  Title:

  	
  Vice
  President

  

 

 

	
   

  	
  Citibank
  NA,

  
	
   

  	
  as
  a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Patricia A Guerra

  
	
   

  	
  Name:

  	
  Patricia
  A Guerra

  
	
   

  	
  Title:

  	
  Vice
  President

  

 

 

	
   

  	
  NATIXIS,

  
	
   

  	
  as
  a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Frank H. Madden, Jr.

  
	
   

  	
  Name:

  	
  Frank
  H. Madden, Jr.

  
	
   

  	
  Title:

  	
  Managing
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Tefta Ghilaga

  
	
   

  	
  Name:

  	
  Tefta
  Ghilaga

  
	
   

  	
  Title:

  	
  Director
  Natixis

  

 

 

	
   

  	
  Deutsche
  Bank Trust Company Americas,

  
	
   

  	
  as
  a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Carin Keegan

  
	
   

  	
  Name:

  	
  Carin
  Keegan

  
	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Scottye Lindsey

  
	
   

  	
  Name:

  	
  Scottye
  Lindsey

  
	
   

  	
  Title:

  	
  Director

  

 

 

	
   

  	
  US
  Bank,

  
	
   

  	
  as
  a Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Greg Guttormsson

  
	
   

  	
  Name:

  	
  Greg
  Guttormsson

  
	
   

  	
  Title:

  	
  VP

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