SEC Contract Filing

Filing Date: 2017-05-04

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ppc-03262017xexhibit101.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="sc8ea044198644a269b0c1d0e13e8634e"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.1</font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">THIRD AMENDMENT TO SECOND </font></div><div style="line-height:120%;padding-bottom:24px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">AMENDED AND RESTATED CREDIT AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT</font><font style="font-family:inherit;font-size:12pt;">&#32;(this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Amendment</font><font style="font-family:inherit;font-size:12pt;">&#8221;), is dated as of March 23,&#160;2017, by and among </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">PILGRIM&#8217;S PRIDE CORPORATION</font><font style="font-family:inherit;font-size:12pt;">, a Delaware corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;), </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">TO-RICOS, LTD.</font><font style="font-family:inherit;font-size:12pt;">, a Bermuda company, and </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">TO-RICOS DISTRIBUTION, LTD.</font><font style="font-family:inherit;font-size:12pt;">, a Bermuda company, as borrowers (collectively, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Borrowers</font><font style="font-family:inherit;font-size:12pt;">&#8221;), the other Loan Parties party hereto, each of the various financial institutions which is a signatory hereto, as a Lender, and</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;Co&#246;peratieve RABOBANK U.A., NEW YORK BRANCH </font><font style="font-family:inherit;font-size:12pt;">(formerly known as CO&#214;PERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., &#8220;RABOBANK NEDERLAND&#8221;, NEW YORK BRANCH</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">)</font><font style="font-family:inherit;font-size:12pt;">, in its capacity as administrative agent and collateral agent (in such capacity, &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Administrative Agent</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">W I T N E S S E T H</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Borrowers, certain other Subsidiaries of the Company, the financial institutions signatory thereto as &#8220;Lenders&#8221;, and Administrative Agent are parties to that certain Second Amended and Restated Credit Agreement dated as of February 11, 2015 (as amended by that certain First Amendment to Second Amended and Restated Credit Agreement dated as of April 27, 2016 and that certain Second Amendment to Second Amended and Restated Credit Agreement dated as of October 21, 2016, and as may be further amended, restated, supplemented or otherwise modified from time to time, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;); and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Borrowers have requested that certain terms and conditions of the Credit Agreement be amended as more specifically set forth herein.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree that all capitalized terms used but not otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement, and further agree as follows:</font></div><div style="line-height:120%;padding-left:48px;text-align:justify;text-indent:0px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:48px;">1.</f