SEC Contract Filing

Filing Date: 2018-10-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>exb103-9302018.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<div><a name="s532b12e21e4342279a4001b764629df6"></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:left;text-indent:576px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;">EXHIBIT 10.3</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;">EXECUTION COPY</font></div><div style="line-height:120%;padding-bottom:32px;text-align:center;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;font-weight:bold;">AMENDMENT NO. 2</font></div><div style="line-height:120%;padding-bottom:32px;text-align:right;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;">Dated as of August 30, 2018</font></div><div style="line-height:120%;text-align:left;padding-left:24px;text-indent:-24px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;">To the banks, financial institutions</font></div><div style="line-height:120%;text-align:left;padding-left:24px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;">and other lenders</font></div><div style="line-height:120%;text-align:left;padding-left:24px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;">(collectively, the "</font><font style="font-family:Roboto,sans-serif;font-size:10pt;text-decoration:underline;">Lenders</font><font style="font-family:Roboto,sans-serif;font-size:10pt;">") parties</font></div><div style="line-height:120%;text-align:left;padding-left:24px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;">to the Term Loan Agreement referred to</font></div><div style="line-height:120%;text-align:left;padding-left:24px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;">below and to Citibank, N.A., as agent</font></div><div style="line-height:120%;text-align:left;padding-left:24px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;">(the "</font><font style="font-family:Roboto,sans-serif;font-size:10pt;text-decoration:underline;">Administrative Agent</font><font style="font-family:Roboto,sans-serif;font-size:10pt;">") for the Lenders</font></div><div style="line-height:120%;text-align:left;padding-left:24px;text-indent:-24px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;">Ladies and Gentlemen:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;">We refer to the Term Loan Agreement, dated as of April 23, 2018 (as amended by the Letter Amendment dated as of May 14, 2018, the "</font><font style="font-family:Roboto,sans-serif;font-size:10pt;text-decoration:underline;">Loan Agreement</font><font style="font-family:Roboto,sans-serif;font-size:10pt;">") among Whirlpool Corporation, a Delaware corporation, the Lenders from time to time party thereto, Citibank, N.A., as Administrative Agent and the other agents party thereto. Capitalized terms not otherwise defined in this Letter Amendment have the same meanings as specified in the Term Loan Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;">It is hereby agreed by you and us as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;">The Term Loan Agreement is, effective as of the date of the Amendment Effective Date (as defined below), hereby amended as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;">1.&#160;&#160;&#160;&#160;Section 7.12 of the Term Loan Agreement is hereby amended and restated in its entirety as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;">"</font><font style="font-family:Roboto,sans-serif;font-size:10pt;font-weight:bold;">Section 7.12. Debt to Capitalization Ratio.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;">Whirlpool shall maintain, as of the last day of each fiscal quarter of Whirlpool, a Debt to Capitalization Ratio of less than or equal to 0.65 to 1.00."</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;">2.&#160;&#160;&#160;&#160;Section 7.15 of the Term Loan Agreement is hereby amended and restated in its entirety as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:Roboto,sans-serif;font-size:10pt;font-weight:bold;">"Section 7.15. Transactions with Affiliates.</font></div><div style="line-heig