Document:

First Amendment to Fourth Amended and Restated Credit Agreement

 Exhibit 10.2.1 
  
 FIRST AMENDMENT TO FOURTH AMENDED 
 AND RESTATED CREDIT AGREEMENT 
  
  
 This FIRST AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”), dated as of July 16, 2004, is made and entered
into by and among GOLD KIST INC., a cooperative marketing association organized and existing under the laws of the State of Georgia (the “Borrower”), the various banks and other lending institutions and institutional investors as
are listed on the signature pages hereof as Lenders (collectively, the “Lenders” and individually, a “Lender”), and COPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK NEDERLAND”, NEW YORK
BRANCH, as agent for the Lenders (the “Agent”). All capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Credit Agreement (defined below). 
  
 W I T N E S S E T H: 
  
 WHEREAS, the Borrower, the Lenders, the Agent, and the other agents party
thereto are parties to that certain Fourth Amended and Restated Credit Agreement dated as of March 10, 2004 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”); and 
  
 WHEREAS, the Borrower has requested that the Agent and the Lenders amend
certain provisions of the Credit Agreement and the Agent and the Lenders have agreed to such amendments on the terms and conditions set forth in this Amendment; 
  

NOW THEREFORE, in consideration of the foregoing premises and other good and valuable consideration paid by each party to the other, the receipt and
sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
  
 1. Amendment to Section 1.1 of the Credit Agreement. Section 1.1 of the Credit Agreement, Definitions, is hereby modified and amended by deleting the definitions of “Fixed Charge Coverage
Ratio” and “Net Proceeds of Stock” set forth therein in their respective entirety and substituting in lieu thereof the following: 
  
 ““Fixed Charge Coverage Ratio” shall mean, as of the last day of any fiscal quarter, the ratio of (a) EBITDA for the
4 fiscal quarter period then ended, to (b) the sum of (i) Consolidated Interest Expense for the 4 fiscal quarter period then ended, (ii) the aggregate scheduled principal amount of Indebtedness for Money Borrowed (other than the Revolving Loans) to
be paid within 1 year after the last day of such fiscal quarter, and (iii) cash dividends paid by the Borrower during the 4 fiscal quarter period then ended. 
  
 “Net Proceeds of Stock” shall mean any proceeds received by the Borrower or a Consolidated Subsidiary in respect of the
issuance of Stock, after deducting therefrom (a) all reasonable and customary costs and expenses incurred by the Borrower or such 

 
Consolidated Subsidiary directly in connection with the issuance of such Stock, including, without limitation, any underwriter’s discounts and
commissions, and (b) for purposes of calculating the Borrower’s Consolidated Tangible Net Worth under Section 7.1(a), all payments made by the Borrower to redeem certain outstanding written notices of allocation of the Borrower in connection
with a Permitted Conversion Transaction.” 
  
 2. Amendment
to Section 3.1 of the Credit Agreement. Section 3.1 of the Credit Agreement, Notes; Repayment of Principal, is hereby modified and amended by deleting subsection (d) thereof in its entirety and substituting the following in lieu thereof:

  
 “(d) The Borrower shall make mandatory
prepayments to the Senior Note Holders and the Lenders in an amount equal to 100% of the Net Cash Proceeds received by the Borrower or a Subsidiary in respect of any offering by any Loan Party of Subordinated Debt (other than an offering which
increases the outstandings under the Borrower’s Subordinated Loan Certificates, or Subordinated Capital Certificates of Interest in existence prior to the Closing Date and described on Schedule S-1 hereto). Each such prepayment shall be due
immediately upon the receipt by such Loan Party of such Net Cash Proceeds.” 
  
 3. Amendment to Section 5.1 of the Credit Agreement. Section 5.1 of the Credit Agreement, Organization and Qualification, is hereby modified and amended by deleting such section in its entirety and
substituting the following in lieu thereof: 
  
 “Section 5.1. Organization and Qualification. At all times (a) prior to the Conversion Date, the Borrower is an agricultural membership cooperative duly incorporated and existing in good standing under the Cooperative Marketing
Act of the State of Georgia, and (b) on and after the Conversion Date, the Borrower is a corporation duly incorporated and existing in good standing under the laws of the State of Delaware. Each Subsidiary is duly incorporated and existing in good
standing under the law of the jurisdiction in which it is incorporated, the Borrower and each of its Subsidiaries have the corporate power to own their respective properties and to carry on their respective businesses as now being conducted, and the
Borrower and each of its Subsidiaries is duly qualified as a foreign corporation to do business and in good standing in every jurisdiction in which the nature of its business conducted or property owned by it legally requires such qualification,
except to the extent failure to so qualify could not result in a Material Adverse Effect on the Borrower and the Subsidiaries.” 
  
 4. Amendments to Article 6 of the Credit Agreement. Article 6 of the Credit Agreement, Affirmative Covenants, is hereby amended as follows:

  
 (a) Amendment to Section 6.1 of the Credit
Agreement. Section 6.1 of the Credit Agreement, Financial Statements, is hereby modified and amended by deleting subsection (a) thereof in its entirety and substituting the following in lieu thereof: 
  
 “(a) As soon as practicable and in any event within 45
days (or such additional number of days, not to exceed 5, by which the required filing of financial statements with the SEC is automatically extended under the SEC’s 
  

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filing requirements) after the end of each of the first 3 fiscal quarters of each fiscal year of the Borrower (i) unaudited consolidated and consolidating
statements of operations and cash flow of the Borrower and its Subsidiaries for such quarter and for the period from the beginning of the current fiscal year to the end of such quarter, (ii) an unaudited consolidated and consolidating balance sheet
of the Borrower and its Subsidiaries as at the end of such quarter, setting forth, with respect to such consolidated statements of operations and cash flow and such consolidated balance sheet, in comparative form, figures for the corresponding
period in the preceding fiscal year all in reasonable detail and certified by the chief financial officer, controller or chief accounting officer of the Borrower as having been prepared in accordance with GAAP, and (iii) a management discussion and
analysis; provided, that delivery by the Borrower of a quarterly report on Form 
10-Q for such quarter shall be sufficient for purposes of satisfying the requirements of this clause (a);” 
  
 (b) Amendment to Section 6.8 of the Credit Agreement.
Section 6.8 of the Credit Agreement, Keeping of Books; Fiscal Year, is hereby modified and amended by deleting such section in its entirety and substituting the following in lieu thereof: 
  
 “Section 6.8. Keeping of Books; Fiscal Year. The
Borrower will keep, and cause each of its Subsidiaries to keep, in accordance with GAAP, proper books of record and account, containing complete and accurate entries of all financial and business transactions of the Borrower and each Subsidiary.
Additionally, the Borrower will, and will cause each of its Subsidiaries to, keep the same fiscal year end as the one evidenced in the financial statements delivered under Section 5.2; provided, however, on and after the Conversion
Date, the Borrower and its Subsidiaries may change their respective fiscal years to a fiscal year ending on or about the last Saturday of September of each year.” 
  
 5. Amendment to Section 7.2 of the Credit Agreement. Section 7.2 of the Credit Agreement, Limitation on Restricted
Payments, is hereby modified and amended by deleting such section in its entirety and substituting the following in lieu thereof: 
  
 “Section 7.2. Limitation on Restricted Payments. The Borrower will not pay or declare any dividend or make any other
distribution on or on account of any class of its Stock or other equity or make cash distributions of equity (including cash patronage refunds), or make interest payments on equity, or redeem, purchase or otherwise acquire, directly or indirectly,
any shares of its Stock or other equity, or redeem, purchase or otherwise acquire, directly or indirectly, any Senior Unsecured Notes or any Subordinated Debt, including, but not limited to, its Subordinated Capital Certificates of Interest and
Subordinated Loan Certificates (except required redemptions as provided in the indentures pursuant to which such Subordinated Capital Certificates of Interest and Subordinated Loan Certificates were issued), or permit any Subsidiary to do any of the
above (all of the foregoing being herein called “Restricted Payments”) except that the Borrower may make (a) (i) prior to the Conversion Date (A) cash patronage refunds in an amount, for each fiscal year, not to exceed 10% of the
member earnings for such fiscal year and (B) present value cashing retirement and death payments (net of any amount the 
  

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Borrower receives as insurance proceeds) in an aggregate amount not to exceed, in the case of this clause (B), $5,000,000 in any fiscal year; and (ii) after
the Conversion Date, the payment of any amounts that would otherwise be permitted to be paid under the immediately preceding clause (a)(i) that were not paid prior to the Conversion Date, (b) payments not to exceed, in the aggregate, the amount of
the Net Proceeds of Stock received from an initial public offering of Borrower to the extent used for (i) on or after the Conversion Date, the prepayment of up to 35% of the Senior Unsecured Notes plus any prepayment penalties, (ii) on or after the
Conversion Date, the prepayment of the Subordinated Capital Certificates of Interest plus any prepayment penalties and interest on deposit, and (iii) prior to or after the Conversion Date, the redemption of certain outstanding written notices of
allocation of the Borrower and payments in connection with the Permitted Conversion Transaction (which, subject to the limitation in amount set forth in this clause (b), may be funded with monies not constituting Net Proceeds of Stock), and (c)
after the Conversion Date, payments of cash dividends in an aggregate amount not to exceed $5,000,000 per fiscal year, provided that prior to making any cash dividend payments pursuant to the immediately preceding clause (c), Borrower shall
deliver to Agent a certificate evidencing compliance with Section 7.1(c) hereof after giving effect to such cash dividend payments, and provided, further, that the Borrower shall not make any Restricted Payments upon the occurrence and
during the continuance of a Default or Event of Default. So long as there is no Default or Event of Default occurring or continuing, there shall not be included in the definition of Restricted Payments: (x) dividends paid, or distributions made, in
Stock of the Borrower or (y) exchanges of Stock of one or more classes of the Borrower, except to the extent that cash or other value is involved in such exchange. Moreover, nothing in this Section 7.2 shall prevent any Subsidiary from making any
Restricted Payments to the Borrower or to any other Loan Party that directly owns Stock of such Subsidiary. The term “equity” as used in this Section 7.2 shall include the Borrower’s common stock, preferred stock, if any, other equity
certificates, and notified equity accounts of patrons.” 
  
 6. Amendment to Section 8.1 of the Credit Agreement. Section 8.1 of the Credit Agreement, Events of Default, is hereby modified and amended by deleting subsection (n) thereof in its entirety and substituting the following in
lieu thereof: 
  
 “(n) [Intentionally
Omitted]; or” 
  
 7. Strict Compliance. Except for the
amendments set forth above, the text of the Credit Agreement and the Loan Documents shall remain in full force and effect. The Borrower acknowledges and expressly agrees that the Lenders reserve the right to, and do in fact, require strict
compliance with all terms and provisions of the Credit Agreement and the other Loan Documents. 
  
 8. Representations and Warranties. The Borrower hereby represents and warrants in favor of the Agent and each Lender as follows: 
  
 (a) the Borrower has the corporate power and authority (i) to enter into this Amendment, and (ii) to do all
acts and things as are required or contemplated hereunder to be done, observed and performed by it; 
  

 -4- 

 (b) this Amendment has been duly authorized, validly executed and delivered by one or
more authorized signatories of the Borrower, and constitutes the legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms; 
  
 (c) the execution and delivery of this Amendment and performance by the Borrower under the Credit Agreement
do not and will not require the consent or approval of any regulatory authority or governmental authority or agency having jurisdiction over the Borrower which has not already been obtained, nor contravene or conflict with the charter documents of
the Borrower, or the provisions of any statute, judgment, order, indenture, instrument, agreement or undertaking, to which the Borrower is a party or by which any of its properties are or may become bound; and 
  
 (d) as of the date hereof, and after giving effect to this
Amendment (i) no Default or Event of Default exists under the Credit Agreement, and (ii) each representation and warranty set forth in Article 5 of the Credit Agreement is true and correct in all material respects. 
  
 9. Loan Document. This Amendment shall be deemed to be a Loan Document
for all purposes. 
  
 10. Expenses. The Borrower agrees to
pay all reasonable expenses of the Agent incurred in connection with this Amendment and the other agreements, instruments and documents to be delivered in connection therewith, including, without limitation, all fees and expenses of counsel to the
Agent. 
  
 11. Counterparts. This Amendment may be executed
in multiple counterparts, each of which shall be deemed to be an original and all of which, taken together, shall constitute one and the same agreement. Any signatures delivered by a party by facsimile transmission or by e-mail transmission of an
adobe file format document (also known as a PDF file) shall be deemed an original signature hereto. 
  
 12. Governing Law. This Amendment shall be deemed to be made pursuant to the laws of the State of New York applicable to contracts made and
performed in the State of New York without regard to the conflict of laws principles thereof other than Sections 5-1401 and 5-1402 of New York General Obligations Law. 
  
 13. Conditions to Effectiveness. This Amendment shall be effective as of the date first written above upon the
satisfaction of the following conditions, which shall be satisfactory in form and substance to the Agent: 
  
 (a) Execution. This Amendment shall have been duly executed and delivered by the Borrower, the Agent and the Required Lenders.

  
 (b) Senior Notes. The Borrower shall
have delivered to the Agent true and correct copies of the duly executed amendments to the documents governing the Senior Notes. 
  

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 (c) Merger. The Conversion Date shall have occurred and the Borrower shall have
delivered to Agent true and complete copies of the duly executed documents between the Borrower and Gold Kist Holdings Inc. evidencing the merger of the Borrower into Gold Kist Holdings Inc. 
  
 (d) Initial Public Offering. The Borrower shall have
consummated an initial public offering of its common stock and received Net Proceeds of Stock in accordance with the S-1 Registration Statement filed by the Borrower, as amended. 
  
 (e) Permitted Conversion Transaction Conditions. The Borrower shall have delivered to the Agent true
and correct copies of all documents required to be delivered pursuant to Section 7.6(a). 
  
 (f) Other Matters. Such other information, documents, instruments and approvals as the Agent or the Agent’s counsel may
reasonably require. 
  
 14. Reference to and Effect on the Loan
Documents. Upon the effectiveness of this Amendment, on and after the date hereof, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit
Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit
Agreement as amended hereby. 
  
  
 (THE REMAINDER OF THE PAGE IS INTENTIONALLY LEFT BLANK) 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their duly authorized officers as of the day and year first above written. 
  

											
	BORROWER:	 	 	 	GOLD KIST INC.
				
	 	 	 	 	By:	 	 /s/ Stephen O. West

	 	 	 	 	 	 	 	 	 Name: Stephen O. West

	 	 	 	 	 	 	 	 	 Title: Chief Financial Officer, Vice President

				
	 	 	 	 	By:	 	 /s/ J. David Dyson

	 	 	 	 	 	 	 	 	 Name: J. David Dyson

	 	 	 	 	 	 	 	 	 Title: Secretary

					
	 	 	 	 	 	 	 	 	[CORPORATE SEAL]
			
	AGENT, L/C ISSUER AND LENDER:	 	 	 	 COÖPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK NEDERLAND”, NEW YORK
BRANCH

				
	 	 	 	 	By:	 	 /s/ Richard J. Beard

	 	 	 	 	 	 	 	 	 Name: Richard J. Beard

	 	 	 	 	 	 	 	 	 Title: Executive Director

				
	 	 	 	 	By:	 	 /s/ Rebecca Morrow

	 	 	 	 	 	 	 	 	 Name: Rebecca Morrow

	 	 	 	 	 	 	 	 	 Title: Executive Director

  
  
 (SIGNATURES CONTINUE ON NEXT PAGE) 
  
  
  
 FIRST AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT

									
	LENDERS:	 	 	 	SUNTRUST BANK
				
	 	 	 	 	By:	 	 /s/ Hugh E. Brown

	 	 	 	 	 	 	 	 	 Name: Hugh E. Brown

	 	 	 	 	 	 	 	 	 Title: Vice President

			
	 	 	 	 	ING CAPITAL LLC
				
	 	 	 	 	By:	 	 /s/ Bill Redmond

	 	 	 	 	 	 	 	 	 Name: William Redmond

	 	 	 	 	 	 	 	 	 Title: Managing Director

			
	 	 	 	 	HARRIS TRUST AND SAVINGS BANK
				
	 	 	 	 	By:	 	 /s/ Philip Langheim

	 	 	 	 	 	 	 	 	 Name: Philip Langheim

	 	 	 	 	 	 	 	 	 Title: Vice President

			
	 	 	 	 	U.S. BANK NATIONAL ASSOCIATION
				
	 	 	 	 	By:	 	 /s/ Alan V. Schuler

	 	 	 	 	 	 	 	 	 Name: Alan V. Schuler

	 	 	 	 	 	 	 	 	 Title: Vice President

			
	 	 	 	 	COBANK, ACB
				
	 	 	 	 	By:	 	 /s/ Jim Stutzman

	 	 	 	 	 	 	 	 	 Name: Jim Stutzman

	 	 	 	 	 	 	 	 	 Title: Vice President

  
  
 (SIGNATURES CONTINUE ON NEXT PAGE) 
  
  
  
 FIRST AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT

									
	 	 	 	 	NATEXIS BANQUES POPULAIRES
				
	 	 	 	 	By:	 	 /s/ Stephen A. Jendras

	 	 	 	 	 	 	 	 	 Name: Stephen A. Jendras

	 	 	 	 	 	 	 	 	 Title: Vice President

				
	 	 	 	 	By:	 	 /s/ Guillaume de Parseau

	 	 	 	 	 	 	 	 	 Name: Guillaume de Parseau

	 	 	 	 	 	 	 	 	 Title: First Vice President and Manager

			
	 	 	 	 	THE CIT GROUP/BUSINESS CREDIT, INC.
				
	 	 	 	 	By:	 	 /s/ John F. Bohan

	 	 	 	 	 	 	 	 	 Name: John F. Bohan

	 	 	 	 	 	 	 	 	 Title: Vice President

			
	 	 	 	 	GREENSTONE FARM CREDIT SERVICES, FLCA
				
	 	 	 	 	By:	 	 /s/ Alfred S. Compton, Jr.

	 	 	 	 	 	 	 	 	 Name: Alfred S. Compton, Jr.

	 	 	 	 	 	 	 	 	 Title: Vice President/ Senior Lending Officer

  
  
  
 FIRST AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT 

 CONSENT OF GUARANTORS 
  
 We, the undersigned, each as a Guarantor pursuant to that certain Third Amended and Restated Subsidiary Guaranty dated as of
the 10th day of March, 2004 (as amended, restated, supplemented or otherwise modified from time to time, the “Guaranty”), hereby each (a) acknowledge receipt of a copy of the foregoing Amendment, and (b) acknowledge, consent and
agree that (i) the Guaranty remains in full force and effect, and (ii) the execution and delivery of the foregoing Amendment and any and all documents executed in connection therewith shall not alter, amend, reduce or modify our respective
obligations and liabilities under the Guaranty. 
  
  

											
	 	 	 	 	AGRATECH SEEDS INC.	 	(SEAL)
				
	 	 	 	 	By:	 	 /s/ Stephen O. West

	 	 	 	 	 	 	 	 	 Name: Stephen O. West

	 	 	 	 	 	 	 	 	 Title: Treasurer

				
	 	 	 	 	AGRATRADE FINANCING, INC.	 	(SEAL)
				
	 	 	 	 	By:	 	 /s/ Stephen O. West

	 	 	 	 	 	 	 	 	 Name: Stephen O. West

	 	 	 	 	 	 	 	 	 Title: Treasurer

				
	 	 	 	 	CROSS EQUIPMENT COMPANY, INC.	 	(SEAL)
				
	 	 	 	 	By:	 	 /s/ Stephen O. West

	 	 	 	 	 	 	 	 	 Name: Stephen O. West

	 	 	 	 	 	 	 	 	 Title: Treasurer

				
	 	 	 	 	GK FINANCE CORPORATION	 	(SEAL)
				
	 	 	 	 	By:	 	 /s/ Stephen O. West

	 	 	 	 	 	 	 	 	 Name: Stephen O. West

	 	 	 	 	 	 	 	 	 Title: Treasurer

  
  
  
 FIRST AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT 

											
	 	 	 	 	GK PEANUTS, INC.	 	(SEAL)
				
	 	 	 	 	By:	 	 /s/ Stephen O. West

	 	 	 	 	 	 	 	 	 Name: Stephen O. West

	 	 	 	 	 	 	 	 	 Title: Treasurer

				
	 	 	 	 	GK PECANS, INC.	 	(SEAL)
				
	 	 	 	 	By:	 	 /s/ Stephen O. West

	 	 	 	 	 	 	 	 	 Name: Stephen O. West

	 	 	 	 	 	 	 	 	 Title: Treasurer

				
	 	 	 	 	LUKER INC.	 	(SEAL)
				
	 	 	 	 	By:	 	 /s/ Stephen O. West

	 	 	 	 	 	 	 	 	 Name: Stephen O. West

	 	 	 	 	 	 	 	 	 Title: Treasurer

				
	 	 	 	 	AGVESTMENTS, INC.	 	(SEAL)
				
	 	 	 	 	By:	 	 /s/ Stephen O. West

	 	 	 	 	 	 	 	 	 Name: Stephen O. West

	 	 	 	 	 	 	 	 	 Title: President

				
	 	 	 	 	GOLD KIST HOLDINGS INC.	 	(SEAL)
				
	 	 	 	 	By:	 	 /s/ Stephen O. West

	 	 	 	 	 	 	 	 	 Name: Stephen O. West

	 	 	 	 	 	 	 	 	 Title: Chief Financial Officer, Vice President

  
  
  
 FIRST AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENTThird Amendment to First Amended and Restated Credit Agreement

 Exhibit 10.24.1 
  
 THIRD AMENDMENT 
 TO 
 FIRST AMENDED AND RESTATED CREDIT AGREEMENT 
 (Term Loan) 
  
 THIS THIRD AMENDMENT TO FIRST AMENDED AND RESTATED CREDIT AGREEMENT (Term Loan) (“Amendment Agreement”) is made as of July 16, 2004 (“Execution Date”) to be effective as of the Effective Date, by and among
Gold Kist Inc., a Georgia cooperative marketing association (“Borrower”) and CoBank, ACB (“CoBank”) as Lender. 
  
 RECITALS 
  
 A.    CoBank and Borrower have entered into that certain First Amended and Restated Credit Agreement (Term Loan) dated as of
January 29, 2003, that certain First Amendment to First Amended and Restated Credit Agreement (Term Loan) dated as of February 11, 2003, and that certain Second Amendment to First Amended and Restated Credit Agreement (Term Loan) dated as of March
10, 2004 (as so amended, and as amended, modified, or supplemented from time to time, the “Credit Agreement”) pursuant to which CoBank has extended certain credit facilities to Borrower, under the terms and conditions set forth in
the Credit Agreement. 
  
 B.    Borrower (1)
has advised CoBank that it wishes to enter into a transaction (“Conversion Transaction”) whereby, through a merger with a Delaware corporation, Borrower is converted from a Georgia cooperative marketing association into a Delaware
for profit corporation, which shall operate under the name Gold Kist Inc.; and (2) has requested that CoBank amend the Credit Agreement in certain respects to facilitate the Conversion Transaction, which CoBank is willing to do under the terms
and conditions, including the other amendments, as set forth in this Amendment Agreement. 
  
 NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, including the mutual promises and agreements contained herein, the parties hereto hereby agree as follows: 

 
 1.    Definitions. Capitalized terms used herein
without definition shall have the definition given to them in the Credit Agreement if defined therein. 

 2.    Amendments to Credit Agreement. The parties hereto agree that the Credit
Agreement shall be amended as follows as of the Effective Date: 
  
 2.1      The following Sections of Article 1 shall be amended in their entirety to read as follows: 
  
 1.44    Fiscal Year: means a period determined as provided in Section 7.15 hereof. 
  
 1.70    Net Proceeds of Stock: shall mean any
proceeds received by Borrower or a consolidated Subsidiary in respect of the issuance of Stock, after deducting therefrom (a) all reasonable and customary costs and expenses incurred by Borrower or such consolidated Subsidiary directly in connection
with the issuance of such Stock, including without limitation any underwriter’s discounts and commissions; and (b) for the purposes of calculating Borrower’s Consolidated Tangible Net Worth under Subsection 9.14.3, all payments made by
Borrower to redeem certain outstanding written notices of allocation of Borrower in connection with a Permitted Conversion Transaction. 
  
 2.2      A new Section 1.127 is added to Article 1 reading as follows: 
  
 1.127  Conversion Date. shall mean the date on which
Borrower consummates a transaction (or series of transactions) pursuant to which the status of Borrower is changed to a for-profit corporation and Borrower ceases to have the status of a cooperative under Subchapter T of the Code. 
  
 2.3      Section 4.7 shall be amended in
its entirety to read as follows: 
  
 4.7      Mandatory Prepayments. Borrower shall make mandatory prepayments (“Mandatory Prepayments”) as set forth in this Section. Borrower shall make Mandatory Prepayments to the Senior
Note Holders for amounts owing under the Senior Notes and to the lenders under the Rabobank Agreement (a) in an amount equal to 100% of the Net Cash Proceeds received by Borrower or a Subsidiary in respect of any offering by Borrower of
Subordinated Debt (other than an offering which increases the outstandings under Borrower’s Subordinated Loan Certificates, or Subordinated Capital Certificates of Interest in existence prior to the Execution Date and described on
Exhibit 4.7 hereto); (b) in an amount equal to 100% of the Net Cash Proceeds from any sale or other disposition by Borrower of any inventory (other than sales of inventory in the ordinary course); (c) in an amount equal to 100%
of the Net Cash Proceeds from any other sale or other disposition (other than sales of inventory in the ordinary course of business, any sale of the assets of the Pork Division, any sale or other disposition of the SSC Securities and any sale or
dispositions permitted by Section 10.5(d)), or series of related sales or dispositions, by Borrower of any assets not otherwise referenced above in this Section, where the Net Cash Proceeds exceed $5,000,000 for any such sale or $10,000,000 in
the aggregate for all such sales; and (d) in an amount equal to 100% of the Net Cash Proceeds from the sale or other disposition of the SSC Securities if Borrower would be otherwise obligated to use any portion of such Net Cash Proceeds to
redeem any of the Senior Unsecured Notes under 

  

 2 

 
the Senior Unsecured Note Documents. Each such Mandatory Prepayment of Net Cash Proceeds shall be due immediately upon the receipt by Borrower of such Net
Cash Proceeds. All Mandatory Prepayments required pursuant to this Section shall be distributed (i) to the Senior Note Holders for amounts owing under the Senior Notes and to the lenders under the Rabobank Agreement, pro rata, based upon the
principal outstanding under their respective Senior Notes and Revolving Loans; provided, however, that if the Senior Note Holders (other than CoBank) waive in writing their right to receive a Mandatory Prepayment pursuant to this Section 4.7 or
comparable provision in their respective Senior Notes, Borrower shall make such Mandatory Prepayment to the lenders under the Rabobank Agreement and to CoBank hereunder only and in an amount equal to their pro rata share as calculated above. The
Mandatory Prepayments made to CoBank as required by this Section shall be applied as provided in Subsection 4.6.2 hereof. 
  
 2.4      Article 5 is amended in its entirety to read as follows: 
  
 Borrower agrees to purchase such equity interests in CoBank (“CoBank
Equity Interests”) as CoBank may from time to time require in accordance with its bylaws and capital plan as applicable generally to borrowers that are not eligible to hold voting stock in CoBank. Such CoBank Equity Interests shall be in
the form of non-voting participation certificates. Patronage will be paid on such participation certificates in accordance with CoBank’s Loan Based Capital Plan, provided that Borrower shall be entitled to irrevocably waive its rights to
patronage payments and, upon such waiver, to elect not to purchase additional CoBank Equity Interests, for any period by providing written notification to CoBank at least thirty (30) days prior to the commencement of such period, which notification
must also describe the period during which the waiver and election not to purchase is to be effective. Such election can not be made for any period for which the waiver is not effective. Borrower’s CoBank Equity Interests (whether presently
owned or acquired in the future, and without regard to whether Borrower has made the waiver, or the waiver and election, described above), including those converted to non-voting participation certificates, shall be revolved in accordance with
CoBank’s Loan-Based Capital Plan. In connection with the foregoing, Borrower hereby acknowledges receipt, prior to the execution of this Credit Agreement, of CoBank’s bylaws, a written description of the terms and conditions under which
the CoBank Equity Interests are issued, CoBank’s Loan-Based Capital Plan, CoBank’s most recent annual report, and, if more recent than CoBank’s latest annual report, its latest quarterly report. 
  
 2.5      Section 7.1 shall be amended in
its entirety to read as follows: 
  
 7.1      Organization, Good Standing, Etc. Borrower: (a) at all times prior to the Conversion Date qualifies as a cooperative association duly incorporated and existing in good standing under the
laws of the State of Georgia, and on and after the Conversion Date is a corporation duly incorporated and existing in good standing under the laws of the State of Delaware; (b) is duly qualified to do business and is in good standing in each
jurisdiction in which the transaction of its business makes such qualification necessary; and (c) has all requisite corporate and legal power (i) to own and operate its assets and to carry on its business, and (ii) to enter into and
perform the Loan Documents to which it is a party. 
  

 3 

 2.6    Section 7.15 shall be amended in its entirety to read as follows:

  
 7.15    Fiscal
Year.    Each fiscal year of Borrower begins on the Sunday after the last Thursday in June of any year and ends on the Saturday after the last Thursday in June of the next year; provided that on and after the Conversion Date
Borrower may change its Fiscal Year to a year ending on or about the last Saturday of September of each year and beginning on the following day on the condition that Borrower deliver to CoBank financial statements satisfying the requirements of
Subsection 9.2.1 hereof for the period from the first day of the then (before such change) current Fiscal Year through the day before the beginning of such new Fiscal Year. 
  
 2.7    Subsections 9.2.2 and 9.2.3 are amended in their entirety to read as follows: 

 
 9.2.2    Quarterly Financial
Statements. As soon as available but in no event more than forty-five (45) days (or such additional number of days, not to exceed five (5), by which the required filing of financial statements with the SEC is automatically extended under the
SEC’s filing requirements) after the end of each of the first three Fiscal Quarters, the following financial statements or other information concerning the operations of Borrower and its consolidated Subsidiaries, prepared in accordance with
GAAP consistently applied: (a) unaudited consolidated and consolidating statements of operations and cash flow for such Fiscal Quarter and for the Fiscal Year to the end of such Fiscal Quarter; (b) an unaudited consolidated and consolidating balance
sheet of Borrower and its consolidated Subsidiaries as at the end of such Fiscal Quarter, setting forth, with respect to such consolidated statements of operations and cash flow and such consolidated balance sheet, in comparative form, figures for
the corresponding period in the preceding Fiscal Year, and such other quarterly statements as CoBank may reasonably request, all prepared in reasonable detail and certified by the Chief Financial Officer or Treasurer of Borrower (subject to normal
year-end adjustments); and (c) a management discussion and analysis; provided that delivery by Borrower of a quarterly report on Form 10-Q for such Fiscal Quarter shall be sufficient for purposes of satisfying the requirements of this Subsection.
Such quarterly financial statements required pursuant to this Subsection shall be accompanied by a Compliance Certificate. 
  
 9.2.3    [Intentionally Omitted]. 
  
 2.8    Subsection 9.14.1 shall be amended in its entirety to read as follows: 
  
 9.14.1 Fixed Charge Coverage Ratio. Commencing with the third Fiscal
Quarter of the 2004 Fiscal Year, at, and measured as of the end of, each Fiscal Quarter a ratio of (a) EBITDA for the previous consecutive four (4) Fiscal Quarters (including such Fiscal Quarter), (b) divided by the sum of (i) Consolidated Interest
Expense for such period, (ii) the aggregate scheduled principal amount of Indebtedness for Money Borrowed (other than the Revolving Loans) to be paid within one year after the last day of such Fiscal Quarter, and (iii) cash dividends paid by
Borrower during the four (4) Fiscal Quarter period then ended, equal to or greater than 1.80 to 1.00. 
  
 2.9    Section 10.1 shall be amended in its entirety to read as follows: 
  

 4 

 10.1    Limitation on Restricted Payments. Borrower will not pay or declare
any dividend or make any other distribution on or on account of any class of its Stock or other equity or make cash distributions of equity (including cash patronage refunds), or make interest payments on equity, or redeem, purchase or otherwise
acquire, directly or indirectly, any shares of its Stock or other equity, or redeem, purchase or otherwise acquire, directly or indirectly, any Senior Unsecured Notes or any Subordinated Debt, including, but not limited to, its Subordinated Capital
Certificates of Interest, Subordinated Loan Certificates (except required redemptions as provided in the indentures pursuant to which such Subordinated Debt was issued), or permit any Subsidiary to do any of the above (all of the foregoing being
herein called “Restricted Payments”) except that Borrower may make (a) (i) prior to the Conversion Date (A) cash patronage refunds in an amount, for each Fiscal Year, not to exceed 10% of the member earnings for such Fiscal Year;
and (B) present value cashing retirement and death payments (net of any amount Borrower receives as insurance proceeds) in an aggregate amount not to exceed $5,000,000 in any Fiscal Year, and (ii) after the Conversion Date, the payment of any
amounts that would otherwise be permitted to be paid under the immediately preceding clause (a)(i) that were not paid prior to the Conversion Date; (b) payments not to exceed, in the aggregate, the amount of the Net Proceeds of Stock received from
an initial public offering of Borrower for (i) on or after the Conversion Date, the prepayment of up to thirty-five percent (35.0%) of the Senior Unsecured Notes plus any prepayment penalties, (ii) on or after the Conversion Date, the prepayment of
the Subordinated Capital Certificates of Interest plus any prepayment penalties and interest on deposit, and (iii) prior to or after the Conversion Date, the redemption of certain outstanding written notices of allocation of Borrower and payments in
connection with the Permitted Conversion Transaction (which, subject to the limitation in amount set forth in this clause (b), may be funded with monies not constituting Net Proceeds of Stock); and (c) after the Conversion Date, payments of cash
dividends in an aggregate amount not to exceed $5,000,000.00 per Fiscal Year, provided that prior to making any cash dividend payments pursuant to the immediately preceding clause (c), Borrower shall deliver to CoBank a certificate evidencing
compliance with Subsection 9.14.1 hereof after giving effect to such cash dividend payments; and provided further that Borrower shall not make any Restricted Payments upon the occurrence and during the continuance of a Default or Event of
Default. So long as there is no Default or Event of Default occurring or continuing, there shall not be included in the definition of Restricted Payments: (x) dividends paid, or distributions made, in Stock of Borrower or (y) exchanges of Stock of
one or more classes of Borrower, except to the extent that cash or other value is involved in such exchange. Moreover, nothing in this Section shall prevent any Subsidiary from making any Restricted Payments to Borrower or to any other Loan Party
that directly owns Stock of such Subsidiary. The term “equity” as used in this Section shall include Borrower’s common stock, preferred stock, if any, other equity certificates, and notified equity accounts of patrons. 
  
 3.    Borrower’s Representations. Borrower
hereby represents and warrants that, (a) Borrower has the corporate power and authority to enter into this Amendment and to perform its obligations hereunder; (b) this Amendment has been duly authorized and validly executed; and (c) after giving
effect to this Amendment Agreement and the transactions contemplated hereby, no Potential Default or Event of Default has occurred and is continuing under the Credit Agreement or other Loan Documents. 
  

 5 

 4.    Effective Date. The effectiveness of this Amendment Agreement is
subject to satisfaction, in CoBank’s sole discretion, of each of the following conditions precedent (the date on which all such conditions precedent are so satisfied shall be the “Effective Date”): 
  

 6 

 4.1      Representations and Warranties. The
representations and warranties of Borrower in the Credit Agreement shall be true and correct in all material respects on and as of the Effective Date as though made on and as of such date. 
  
 4.2      No Event of
Default. No Event of Default shall have occurred and be continuing under the Credit Agreement as of the Effective Date of this Amendment Agreement. 
  
 4.3      Payment of Fees and Expenses. Borrower shall have paid CoBank, by wire transfer of immediately
available federal funds, all expenses owing pursuant to Section 5 below. 
  
 4.4      Evidence of Merger. The Conversion Date shall have occurred and Borrower shall have delivered to CoBank true and complete copies of the duly executed
documents between Borrower and Gold Kist Holdings Inc. (“Survivor”) evidencing (i) the merger of Borrower with and into Survivor pursuant to which, among other things, the corporate status of Borrower is converted to a for-profit
corporation and Borrower ceases to have the status of a cooperative under Subchapter T of the Code, and (ii) the change of the name of Survivor to “Gold Kist Inc.”; and (b) copies of all documents required to be delivered pursuant to
Section 10.5(e) of the Credit Agreement. 
  
 4.5      Initial Public Offering. Borrower shall have consummated an initial public offering of its common stock and received Net Proceeds of Stock substantially in accordance with the S-1
Registration Statement filed by Borrower, as amended, with the Securities and Exchange Commission, and Borrower shall have given CoBank written notice of such consummation. 
  
 4.6      Rabobank Agreement. CoBank shall have received proof
satisfactory to it that the First Amendment to the Rabobank Agreement has been executed by all parties and is in full force and effect. 
  
 5.    Costs; Expenses and Taxes. Borrower agrees to reimburse CoBank on demand for all out-of-pocket costs, expenses and charges
(including, without limitation, all fees and charges of external legal counsel) incurred by CoBank in connection with the preparation, reproduction, execution and delivery of this Amendment Agreement and any other instruments and documents to be
delivered hereunder. 
  
 6.    General
Provisions. 
  
 6.1    No
Waiver; Continuing Effect; References. The execution, delivery and effectiveness of this Amendment Agreement shall not operate as a waiver of any right, power or remedy of CoBank under any of the Loan Documents, nor constitute a waiver of
any provision of any of the Loan Documents, and the Credit Agreement, as expressly modified hereby, and each of the other Loan Documents, are hereby ratified and confirmed and shall continue in full force and effect and be binding upon the parties
thereto. Any direct or indirect reference in the Loan Documents to the “Credit Agreement” shall be deemed to be a reference to the Credit Agreement as amended by this Amendment Agreement. 
  

 7 

 6.2    Governing Law. This Amendment Agreement shall be governed
by and construed in accordance with the laws of the State of Colorado. 
  
 6.3    Counterparts. This Amendment Agreement may be executed in any number of counterparts and by different parties to this Amendment Agreement 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. Copies of documents or signature pages bearing original signatures, and executed documents or signature pages delivered by
telefax or facsimile or by e-mail transmission of an adobe file format document (also known as a PDF file), shall, in each such instance, be deemed to be, and shall constitute and be treated as, an original signed document or counterpart, as
applicable. Any party delivering an executed counterpart of this Amendment Agreement by telefax or telefacsimile, or by e-mail transmission of an adobe file format document also shall deliver an original executed counterpart of this Amendment
Agreement, but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Amendment Agreement. 
  
 [THE EXECUTION PAGE IS THE NEXT PAGE] 
  

 8 

 IN WITNESS WHEREOF, the parties hereto have caused this Third Amendment to First Amended and
Restated Credit Agreement (Term Loan) to be executed by their duly authorized officers as of the Effective Date. 
  

			
	 BORROWER:
  
 GOLD KIST INC., a cooperative marketing association formed under the laws of the State of Georgia

		
	By:	 	 /s/ Stephen O. West

	 	 	 Name: Stephen O. West
 Title: Chief Financial Officer,
Vice President

  

			
	 LENDER:
  
 COBANK, ACB

		
	By:	 	 /s/ Mary Beth Curry

	 	 	 Name: Mary Beth Curry
 Title: Vice
President

  

 9

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