Document:

exv10w3

Exhibit 10.3

EXECUTION COPY

SECOND AMENDMENT TO CREDIT AND GUARANTY AGREEMENT

          SECOND AMENDMENT TO CREDIT AND GUARANTY AGREEMENT (this “Amendment”), dated as of May 31,
2011, among GRIFOLS, INC. (the “U.S. Borrower” or the “Borrower Representative”) and DEUTSCHE BANK
AG NEW YORK BRANCH (“DBNY”), as administrative agent (in such capacity and including any
successors, the “Administrative Agent”). All capitalized terms used herein and not otherwise
defined herein shall have the respective meanings provided such terms in the Credit Agreement (as
defined below).

W I T N E S S E T H:

          WHEREAS, the Parent, the U.S. Borrower, the Lenders party thereto from time to time, the
Guarantors party thereto from time to time, the Administrative Agent and DBNY, as the Collateral
Agent, are party to that certain credit and guaranty agreement, dated as of November 23, 2010 (as
amended, modified and/or supplemented through, but not including, the date hereof, the “Credit
Agreement”);

          WHEREAS, Section 10.05(d)(iii) of the Credit Agreement permits the Borrower Representative to
request that the schedules to the Credit Agreement be amended (or new schedules added) to reflect
immaterial changes or changes of a clean-up nature, and such schedules may be amended or added with
the consent of the Administrative Agent (and without the consent of any other party to any Loan
Document);

          WHEREAS, the Borrower Representative has requested that certain Schedules to the Credit
Agreement be amended and restated as described in Section 1 below; and 

          WHEREAS, the Borrower has
represented and warranted to the Administrative Agent that such changes are clean-up in nature;

          NOW, THEREFORE, IT IS AGREED:

     Section 1. Amendment to Credit Agreement. Schedules 1.01(d), 4.01, 4.02, 4.12, 6.01, 6.02 and
6.06 to the Credit Agreement are hereby amended and restated in the forms attached in Annex A
hereto.

     Section 2. Conditions to Effectiveness. This Amendment shall become effective (the “Effective
Date”) upon the execution and delivery of this Amendment by the Borrower Representative and the
Administrative Agent.

     Section 3. Miscellaneous Provisions.

     (a) The Parent and the Borrower Representative hereby represent and warrant to the
Administrative Agent and each Lender that, as of the Effective Date, after giving
effect to the amendment set forth herein, each of the representations and warranties set forth
in Sections 4.01, 4.02 and 4.03 of the Credit Agreement are true and correct in all material
respects on and as of the Effective Date to the same extent as though made on and as of that date,
except to the extent

 

 

such representations and warranties specifically relate to an earlier date, in which case such
representations and warranties shall have been true and correct in all material respects on and as
of such earlier date; provided, that to the extent any such representation or warranty is already
qualified by materiality or Material Adverse Effect, such representation or warranty shall be true
and correct in all respects.

     (b) The Parent and the Borrower Representative acknowledge and agree that each of the Loan
Documents to which it is a party or otherwise bound shall continue in full force and effect and
that all of its obligations thereunder and the obligations of the other Loan Parties party thereto
shall continue, shall be valid and enforceable and shall not be impaired or limited by the
execution or effectiveness of this Amendment.

     (c) This Amendment is limited as specified and shall not constitute a modification, acceptance
or waiver of any other provisions of the Credit Agreement or any other Loan Document.

     (d) This Amendment may be executed in any number of counterparts and by the different parties
hereto on separate counterparts, each of which counterparts when executed and delivered (including
by facsimile or electronic transmission) shall be an original, but all of which shall together
constitute one and the same instrument. Delivery of an executed counterpart of a signature page to
this Agreement by facsimile or other electronic transmission will be effective as delivery of a
manually executed counterpart thereof. A complete set of counterparts shall be lodged with the
Borrower Representative and the Administrative Agent.

     (e) THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED
BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER
THAN THE LAW OF THE STATE OF NEW YORK.

     (f) From and after the Effective Date, all references in the Credit Agreement and each of the
other Loan Documents to the Credit Agreement shall be deemed to be references to the Credit
Agreement as modified hereby. This Amendment shall constitute a Loan Document for all purposes
under the Credit Agreement and each of the other Loan Documents.

     (g) This Amendment shall be binding upon and inure to the benefit of the U.S. Borrower, the
Parent and the Guarantors and each of their respective successors and assigns, and upon the
Administrative Agent and the Lenders and their respective successors and assigns.

     (h) Any provision of this Amendment that is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction.

2

 

          IN WITNESS WHEREOF, the parties hereto have caused their
duly authorized officers to execute and deliver this Amendment
as of the date first above written.

	 	 	 	 	 
	 	GRIFOLS INC.

 	 
	 	By:  	/s/
David Bell	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to Second Amendment to Grifols Credit Agreement

 

 

	 	 	 	 	 
	 	AGENT:

DEUTSCHE BANK AG NEW YORK BRANCH, 

as Administrative Agent

 	 
	 	By:  	/s/ Carin Keegan
 	 
	 	 	Name:  	Carin Keegan 	 
	 	 	Title:  	Director 	 
	 
	 	 	 
	 	By:  	/s/ Erin Morrissey
 	 
	 	 	Name:  	Erin Morrissey 	 
	 	 	Title:  	Director 	 
	 

Signature Page to Second Amendment to Grifols Credit Agreementexv10w4

Exhibit
10.4

Execution Version

COUNTERPART AGREEMENT

     This
COUNTERPART AGREEMENT, dated June 1, 2011 (this
“Counterpart Agreement”) is
delivered pursuant to that certain Credit and Guaranty Agreement, dated as of November 23,
2010 (as it may be amended, supplemented or otherwise modified, the “Credit Agreement”; the
terms defined therein and not otherwise defined herein being used herein as therein defined),
by and among Grifols Inc., a Delaware corporation (the “U.S. Borrower”), a wholly-owned
subsidiary of Grifols, S.A., a sociedad anónima organized under the laws of the Kingdom of
Spain (in such capacity thereunder the “Parent”, in its capacity as borrower thereunder the
“Foreign Borrower”, and jointly with the U.S. Borrower the “Borrowers”), the Parent and
certain Subsidiaries of the Parent, as Guarantors, the Lenders party thereto from time to
time, and Deutsche Bank AG New York Branch (“DBNY”), as Administrative Agent (together with
its permitted successors in such capacity, the “Administrative Agent”) and as Collateral Agent
(together with its permitted successors in such capacity, the “Collateral Agent”).

     Section 1. Pursuant to Section 5.12 of the Credit Agreement, the undersigned hereby:

     (a) agrees that this Counterpart Agreement may be attached to the Credit
Agreement and that by the execution and delivery hereof, the undersigned becomes a
Guarantor under the Credit Agreement and agrees to be bound by all of the terms
thereof;

     (b) represents and warrants that each of the representations and warranties set
forth in the Credit Agreement and each other Loan Document and applicable to the
undersigned is true and correct both before and after giving effect to this
Counterpart Agreement, except to the extent that any such representation and warranty
relates solely to any earlier date, in which case such representation and warranty is
true and correct as of such earlier date;

     (c) no event has occurred or is continuing as of the date hereof, or will result
from the transactions contemplated hereby on the date hereof, that would constitute an
Event of Default or a Default;

     (d) agrees, to irrevocably, unconditionally, jointly and severally with the other
Guarantors, to guaranty the due and punctual payment in full of all Obligations when
the same shall become due, whether at stated maturity, by required prepayment,
declaration, acceleration, demand or otherwise (including amounts that would become
due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy
Code, 11 U.S.C. § 362(a)) and in accordance with Article VII of the Credit Agreement;
and

     Section 2. The undersigned agrees from time to time, upon request of Administrative
Agent, to take such additional actions and to execute and deliver such additional documents
and instruments as Administrative Agent may request to effect the transactions contemplated
by, and to carry out the intent of, this Agreement. Neither this Agreement nor any term
hereof may be changed, waived, discharged or terminated, except by an instrument in writing
signed by the party (including, if applicable, any party required to evidence its consent to
or acceptance of this Agreement) against whom enforcement of such change, waiver, discharge or
termination is sought. Any notice or other communication herein required or permitted to be
given shall be given pursuant to Section 10.01 of the Credit Agreement, and for all purposes
thereof, the notice address of the undersigned shall be the address as set forth on the
signature page hereof. In case any provision in or obligation under this Agreement shall be
invalid, illegal or unenforceable in any jurisdiction, the validity, legality and

 

 

enforceability of the remaining provisions or obligations, or of such provision or obligation in
any other jurisdiction, shall not in any way be affected or impaired thereby.

     THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED
BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW
OTHER THAN THE LAW OF THE STATE OF NEW YORK.

[Remainder of page intentionally left blank]

 

 

IN WITNESS WHEREOF, the undersigned has caused this Counterpart Agreement to be duly
executed and delivered by its duly authorized officer as of the date above first written.

	 	 	 	 	 
	 	BIOMAT USA, INC.

 	 
	 	By:  	/s/
David Bell	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	GRIFOLS BIOLOGICALS, INC.

 	 
	 	By:  	/s/
David Bell	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TELECRIS BIOTHERAPEUTICS, INC.

 	 
	 	By:  	/s/
David Bell	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TELECRIS PLASMA RESOURCES INC.

 	 
	 	By:  	/s/
David Bell	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	MOVACO, S.A.

 	 
	 	By:  	/s/
Victor Grifols Roura	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	DIAGNOSTIC GRIFOLS, S.A.

 	 
	 	By:  	/s/
Victor Grifols Roura	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	INSTITUTO GRIFOLS, S.A.

 	 
	 	By:  	/s/
Victor Grifols Roura	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 

Counterpart Agreement

 

 

	 	 	 	 	 
	 	LABORATORIES GRIFOLS, S.A.

 	 
	 	By:  	/s/
Victor Grifols Roura	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	GRIFOLS ITALIA S.P.A.

 	 
	 	By:  	/s/
Victor Grifols Roura	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TELECRIS BIOTHERAPEUTICS GMBH

 	 
	 	By:  	/s/
Thierry Heinrich	 
	 	 	Name:  	Thierry Heinrich	 
	 	 	Title:  	Managing Director	 
	 

Address
for Notices:

U.S. Borrower and all U.S. Subsidiaries:

GRIFOLS INC.

2410 Lillyvale Ave.

Los Angeles,CA

90032-3514

Attention: David Bell

Facsimile: 323-441-7151

Parent,
Foreign Borrower and all Foreign Subsidiaries:

GRIFOLS
S.A.

Avinguda de la Generalitar, 152

Parque empresarial Can Sant Joan

08174 Sant Cugat del Vallès, Barcelona — Spain

Attention: Alfredo Arroyo

Facsimile: 34 934 102 513

In each case, with a copy to:

Proskauer
Rose LLP

11 Times Square

New York, NY 10036-8299

Attention: Carlos E. Martinez

Facsimile: 212-969-2900

Counterpart Agreement

 

 

	 	 	 	 	 
	 	LABORATORIES GRIFOLS, S.A.

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	GRIFOLS ITALIA S.P.A.

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TELECRIS BIOTHERAPEUTICS GMBH

 	 
	 	By:  	/s/
Thierry HEINRICH
 	 
	 	 	Name:  	Thierry HEINRICH 	 
	 	 	Title:  	Managing Director 	 
	 

Address for Notices:

U.S. Borrower and all U.S. Subsidiaries:

GRIFOLS INC.

2410 Lillyvale Ave.

Los Angeles, CA

90032-3514

Attention: David Bell

Facsimile: 323-441-7151

Parent, Foreign Borrower and all Foreign Subsidiaries:

GRIFOLS
S.A.

Avinguda de la Generalitat, 152

Parque empresarial Can Sant Joan

08174 Sant Cugat del Vallès, Barcelona- Spain

Attention: Alfredo Arroyo

Facsimile: 34 934 102 513

In each case, with a copy to:

Proskauer Rose LLP

11 Times Square

New York, NY 10036-8299

Attention: Carlos E. Martinez

Facsimile: 212-969-2900

Counterpart Agreement

 

 

ACKNOWLEDGED
AND ACCEPTED,

as of the date above first written:

DEUTSCHE BANK AG NEW YORK BRANCH,

as Administrative Agent and Collateral Agent

	 	 	 	 
	 	 
	By:  	/s/
Carin Keegan
 	 
	 	Name:  	Carin Keegan 	 
	 	Title:  	Director 	 
	 

	 	 	 	 
	 	 
	By:  	/s/
Erin Morrissey
 	 
	 	Name:  	Erin Morrissey 	 
	 	Title:  	Director 	 
	 

Counterpart
Agreement

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