SEC Contract Filing

Filing Date: 2015-03-02

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>5
<FILENAME>d884695dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>GUARANTY </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This GUARANTY
(this &#147;<U>Guaranty</U>&#148;), dated as of March&nbsp;2, 2015, is made by RENAISSANCERE HOLDINGS LTD., a Bermuda exempted company (&#147;<U>Guarantor</U>&#148;), in favor of the Guaranteed Parties (as hereinafter defined). Capitalized terms
used herein without definition shall have the meanings given to them in the Credit Agreement (as defined below). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Platinum Holdings, the Subsidiary Credit Parties, the Lenders and the Administrative Agent are parties to a Third Amended and
Restated Credit Agreement, dated as of April&nbsp;9, 2014 (as amended, amended and restated, supplemented or otherwise modified from time to time in accordance with its provisions, the &#147;<U>Credit Agreement</U>&#148;), pursuant to which the
Lenders have made available to the Credit Parties a revolving credit facility. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Platinum Holdings has entered into an Agreement
and Plan of Merger (the &#147;<U>Merger Agreement</U>&#148;), dated as of November&nbsp;23, 2014, with Guarantor, and Port Holdings Ltd., a Bermuda exempted company and a wholly owned subsidiary of Guarantor (&#147;<U>Port Holdings</U>&#148;),
pursuant to which Platinum Holdings will merge with Port Holdings, with Platinum Holdings being the surviving entity and becoming a wholly owned subsidiary of Guarantor (the &#147;<U>Merger</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, pursuant to a Consent and Amendment to Credit Agreement, dated as of the date hereof, between Platinum Holdings, the Subsidiary
Credit Parties, the Administrative Agent and the Required Lenders (the &#147;<U>Amendment</U>&#148;), the Required Lenders have agreed to (i)&nbsp;consent to the Merger and waive any noncompliance with Section&nbsp;8.1 and Section&nbsp;9.1(m) of the
Credit Agreement that would result from the Merger, and (ii)&nbsp;make certain amendments to the Credit Agreement on the condition that Guarantor shall have agreed, by executing and delivering this Guaranty, to guarantee to the Guaranteed Parties
the payment in full of the Guaranteed Obligations (as hereinafter defined) and to comply with certain covenants contained in the Credit Agreement, dated as of May&nbsp;17, 2012, between Guarantor, the lenders party thereto (the &#147;<U>RenRe
Lenders</U>&#148;) and Wells Fargo Bank, National Association, as administrative agent (as amended, amended and restated, supplemented or otherwise modified from time to time in accordance with its provisions, the &#147;<U>RenRe Holdings Credit
Agreement</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, upon consummation of the Merger, Guarantor will own all of the issued and outstanding equity interests of
Platinum Holdings and will obtain benefits as a result of the terms of, and the continued extension of credit to the Credit Parties under, the Credit Agreement, which benefits are hereby acknowledged, and, accordingly, Guarantor desires to execute
and deliver this Guaranty. The execution of this Guaranty is a condition precedent to the effectiveness of the amendments to the Credit Agreement made under the Amendment. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>STATEMENT OF AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, Guarantor hereby agrees as follows: </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Guaranty</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a)
Guarantor hereby irrevocably, absolutely and unconditionally: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) guarantees&nbsp;to the Lenders, the Fronting Bank and
the Administrative Agent (collectively, the &#147;<U>Guaranteed Parties</U>&#148;) the full and prompt payment, at any time and from time to time as and when due (whether at the stated maturity, by acceleration or otherwise), of all Obligations of
the Credit Parties under the Credit Agreement and the other Credit Documents (collectively, the &#147;<U>Guaranteed Obligations</U>&#148;); and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) agrees to pay the reasonable fees and expenses of counsel to, and reimburse upon demand all reasonable costs and expenses
incurred or paid by, (y)&nbsp;any Guaranteed Party in connection with any suit, action or proceeding to enforce or protect any rights of the Guaranteed Parties hereunder and (z)&nbsp;the Administrative Agent in connection with any amendment,
modification or waiver hereof or consent pursuant hereto, and to indemnify and hold each Guaran