-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ATfw1RpvVfvpVMmhl6cLUWuFi9Ju2TpvhirDWLo9OJj7VlCwgr8PFh3kc4ilXNAI Q0eoSdYlMTD6hMZ4bpGBwg== 0000950144-06-003223.txt : 20060405 0000950144-06-003223.hdr.sgml : 20060405 20060405144507 ACCESSION NUMBER: 0000950144-06-003223 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20060331 ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Material Modifications to Rights of Security Holders ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060405 DATE AS OF CHANGE: 20060405 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WASTE SERVICES, INC. CENTRAL INDEX KEY: 0001065736 STANDARD INDUSTRIAL CLASSIFICATION: REFUSE SYSTEMS [4953] IRS NUMBER: 000000000 STATE OF INCORPORATION: A6 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-25955 FILM NUMBER: 06741709 BUSINESS ADDRESS: STREET 1: 1122 INTERNATIONAL BLVD., SUITE 601 CITY: BURLINGTON STATE: A6 ZIP: L7L 6Z8 BUSINESS PHONE: 9053191237 MAIL ADDRESS: STREET 1: 1122 INTERNATIONAL BLVD., SUITE 601 CITY: BURLINGTON STATE: A6 ZIP: L7L 6Z8 FORMER COMPANY: FORMER CONFORMED NAME: CAPITAL ENVIRONMENTAL RESOURCE INC DATE OF NAME CHANGE: 19990421 8-K 1 g00714e8vk.htm WASTE SERVICES, INC. Waste Services, Inc.
 

 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 8-K
 
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 31, 2006
Waste Services, Inc.
(Exact name of registrant as specified in its charter)
         
Delaware   000-25955   01-0780204
(State or other jurisdiction of   (Commission   (IRS Employer
incorporation)   File Number)   Identification No.)
     
1122 International Blvd., Suite 601, Burlington, Ontario, Canada   L7L 6Z8
(Address of principal executive offices)   (Zip Code)
Registrant’s telephone number, including area code (905) 319-1237
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


 

Section 2 Financial Information
Item 2.03(a) — Creation of a Direct Financial Obligation
As previously announced on a Form 8-K dated December 28, 2005, Waste Services, Inc. completed an amendment to its existing senior credit facility providing for the incurrence of up to $50.0 million of additional term loans under a new term loan tranche. The company drew $25.0 million of the facility at closing to refinance amounts outstanding under its existing revolving credit facility, and the remaining $25.0 million was available on a delayed draw basis until March 30, 2006. The terms of the new loan are substantially identical to the company’s existing tranche C term loan.
The company has completed amendments to its existing senior credit facility permitting the previously announced acquisition of Liberty Waste, LLC and Sun Country Materials, LLC and extending the availability of the $25.0 million on a delayed draw basis until May 31, 2006.
Section 3 Securities and Trading Markets
Item 3.03 — Material Modification to Rights of Security Holders.
The company amended the terms of its agreement with Kelso Investment Associates VI, L.P. and KEP VI, LLC with respect to the mandatorily redeemable Preferred Stock issued to Kelso to permit the above amendments to the company’s term loan under its existing senior credit facility.
Section 9 Financial Statements and Exhibits
Item 9.01 — Financial Statements and Exhibits
(d)     Exhibits
     20.1   Fifth Amendment to Amended and Restated Credit Agreement dated as of March 22, 2006.
     20.2   Sixth Amendment to Amended and Restated Credit Agreement dated as of March 30, 2006.
     20.3   Agreement effective as of March 30, 2006 among Waste Services, Inc., and Kelso Investment Associates VI, L.P. and KEP VI, LLC.

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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  WASTE SERVICES, INC.
 
 
  By:   /s/ Ivan R. Cairns    
    Ivan R. Cairns   
    Executive Vice President and General Counsel   
 
Date: April 5, 2006

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EX-20.1 2 g00714exv20w1.htm FIFTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 5th Amendment to Amended and Restated Credit Agree
 

EXHIBIT 20.1
FIFTH AMENDMENT TO
AMENDED AND RESTATED CREDIT AGREEMENT
Dated as of March 22, 2006
     This FIFTH AMENDMENT TO THE AMENDED AND RESTATED CREDIT AGREEMENT (together with all Exhibits, Schedules and Annexes hereto, this “Amendment”) is among WASTE SERVICES (CA) INC., an Ontario corporation formerly known as CAPITAL ENVIRONMENTAL RESOURCE INC./RESSOURCES ENVIRONNEMENTALES CAPITAL INC. (“WSCI”), WASTE SERVICES, INC., a Delaware corporation (the “Borrower”), and LEHMAN COMMERCIAL PAPER INC., as administrative agent for the Lenders (in such capacity, the “Administrative Agent”).
PRELIMINARY STATEMENTS:
     A. The Borrower, WSCI, the Lenders, the Administrative Agent, Lehman Brothers Inc., as Arranger, CIBC World Markets Corp., as Syndication Agent, Bank of America, N.A., as Documentation Agent, and Canadian Imperial Bank of Commerce, as Canadian Agent, entered into an Amended and Restated Credit Agreement, dated as of April 30, 2004 (as amended, restated, modified or supplemented prior to the date hereof, and together with all Annexes, Exhibits and Schedules thereto, the “Credit Agreement”; capitalized terms used and not otherwise defined herein shall have the meanings ascribed to such terms in the Credit Agreement).
     B. The Borrower has advised the Administrative Agent and the Lenders that it intends to acquire Liberty Waste, LLC and Sun Country Materials, LLC for an aggregate purchase price of approximately $39.2 million as more fully described herein and that the aggregate purchase price for such acquisition is in excess of the amount currently permitted by the Credit Agreement.
     C. In connection with the foregoing, the Borrower and WSCI have requested that the Administrative Agent and the requisite Lenders amend the Credit Agreement as set forth herein, and the Administrative Agent and the Required Lenders are, on the terms and conditions stated below, willing to grant the request of the Borrower and WSCI.
     NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1.   Amendment. Upon the terms and subject to the conditions set forth herein and in reliance on the representations and warranties of the Loan Parties set forth herein, the Credit Agreement is hereby amended as follows:
          (a) The following new definition is hereby added to Section 1.1 of the Credit Agreement in the appropriate alphabetical order:
     “March 2006 Acquisition” shall mean the acquisition by the Borrower of (i) 100% of the membership interests of Liberty Waste, LLC (“Liberty”), a Delaware limited liability company from R Group Management Ltd (“R Group”), an Ohio limited

 


 

liability company pursuant to that certain Membership Interest Purchase Agreement, dated as of February 3, 2006, among the Borrower, R Group and Liberty and (ii) 100% of the membership interests of Sun Country Materials, LLC (“Sun”), a Delaware limited liability company and from R Group pursuant to that certain Membership Interest Purchase Agreement, dated as of February 3, 2006 among the Borrower, R Group and Sun.
     (b) Section 7.8(h)(iv)(y) is hereby deleted in its entirety and replaced with the following:
“(y) $30,000,000 for any single Permitted Acquisition; provided that, solely with respect to the March 2006 Acquisition, such amount shall be $40,000,000.”
2.   Conditions to Effectiveness. The effectiveness of the amendments contained in Section 1 hereof is conditioned upon satisfaction of the following conditions precedent (the date on which all such conditions have been satisfied being referred to herein as the “Amendment Effective Date”):
          (a) the Administrative Agent shall have (i) executed this Amendment, shall have received written authorization to execute this Amendment from Lenders constituting the Required Lenders on behalf of such Lenders, (ii) received counterparts of this Amendment signed by each of WSCI, the Borrower and the Administrative Agent, and (iii) received counterparts of the consent of the Guarantors attached hereto as Annex 1 (the “Consent”) executed by each of the Guarantors;
          (b) each of the representations and warranties in Section 3 below shall be true and correct in all material respects on and as of the Amendment Effective Date;
          (c) the Administrative Agent shall have received payment in immediately available funds of all expenses incurred by the Administrative Agent (including, without limitation, legal fees) reimbursable under the Credit Agreement and for which invoices have been presented; and
          (d) the Administrative Agent shall have received such other documents, instruments, certificates, opinions and approvals as it may reasonably request.
3.   Representations and Warranties. Each of WSCI and the Borrower represents and warrants jointly and severally to the Administrative Agent and the Lenders as follows:
          (a) Authority. Each of WSCI and the Borrower has the requisite corporate or other organizational power and authority to execute and deliver this Amendment and to perform its obligations hereunder and under the Credit Agreement (as amended hereby). Each of the Guarantors has the requisite corporate or other organizational power and authority to execute and deliver the Consent. The execution, delivery and performance by each of WSCI and the Borrower of this Amendment and by the Guarantors of the Consent, and the performance by each of WSCI, the Borrower and each other Loan Party of the Credit Agreement (as amended hereby) and each other Loan Document to which it is a party, in each case, have been authorized

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by all necessary corporate or other organizational action of such Person, and no other corporate or other organizational proceedings on the part of each such Person is necessary to consummate such transactions.
          (b) Enforceability. This Amendment has been duly executed and delivered on behalf of each of WSCI and the Borrower. The Consent has been duly executed and delivered by each of the Guarantors. Each of this Amendment, the Consent and, after giving effect to this Amendment, the Credit Agreement (as amended hereby) and the other Loan Documents, (i) is the legal, valid and binding obligation of each Loan Party party hereto and thereto, enforceable against such Loan Party in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law) and (ii) is in full force and effect. Neither the execution, delivery or performance of this Amendment or of the Consent or the performance of the Credit Agreement (as amended hereby), nor the performance of the transactions contemplated hereby or thereby, will adversely affect the validity, perfection or priority of the Administrative Agent’s Lien on any of the Collateral or its ability to realize thereon. This Amendment is effective to amend the Credit Agreement as provided herein
          (c) Representations and Warranties. After giving effect to this Amendment, the representations and warranties contained in the Credit Agreement and the other Loan Documents (other than any such representations and warranties that, by their terms, are specifically made as of a date other than the date hereof) are true and correct in all material respects on and as of the date hereof as though made on and as of the date hereof.
          (d) No Conflicts. Neither the execution and delivery of this Amendment or the Consent, nor the consummation of the transactions contemplated hereby and thereby, nor the performance of and compliance with the terms and provisions hereof or of the Credit Agreement (as amended hereby) by any Loan Party will, at the time of such performance, (a) violate or conflict with any provision of its articles or certificate of incorporation or bylaws or other organizational or governing documents of such Person, (b) violate, contravene or materially conflict with any Requirement of Law or Contractual Obligation (including, without limitation, Regulation U), except for any violation, contravention or conflict which could not reasonably be expected to have a Material Adverse Effect or (c) result in or require the creation of any Lien (other than those permitted by the Loan Documents) upon or with respect to its properties. No consent or authorization of, filing with, notice to or other act by or in respect of, any Governmental Authority or any other Person is required in connection with the transactions contemplated hereby.
          (e) No Default. Both before and after giving effect to this Amendment, no event has occurred and is continuing that constitutes a Default or Event of Default.
4.   Reference to and Effect on Credit Agreement.
          (a) Upon and after the effectiveness of this Amendment, 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

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Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as modified hereby. This Amendment is a Loan Document.
          (b) Except as specifically modified above, the Credit Agreement and the other Loan Documents are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed. Without limiting the generality of the foregoing, the Security Documents and all of the Collateral described therein do and shall continue to secure the payment of all Obligations under and as defined therein, in each case as modified hereby.
          (c) The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Secured Party under any of the Loan Documents, nor, except as expressly provided herein, constitute a waiver or amendment of any provision of any of the Loan Documents.
5.   Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment by facsimile shall be effective as delivery of a manually executed counterpart of this Amendment.
6.   Severability. 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.
7.   Governing Law. This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York.
[Remainder of page intentionally left blank]

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     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective officers as of the day and year first above written.
         
  WASTE SERVICES, INC., as Borrower
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Executive Vice President, General Counsel and Secretary   
 
  WASTE SERVICES (CA) INC.
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  LEHMAN COMMERCIAL PAPER INC., as Administrative Agent
 
 
  By:   /s/ Ritam Bhalla    
    Name:   Ritam Bhalla   
    Title:   Authorized Signatory   

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Annex 1
CONSENT OF GUARANTORS
Each of the undersigned is a Guarantor of the Obligations of the Borrower and/or of WSCI under the Credit Agreement and hereby (a) consents to the foregoing Amendment, (b) acknowledges that notwithstanding the execution and delivery of the foregoing Amendment, the obligations of each of the undersigned Guarantors are not impaired or affected and all guaranties given to the holders of Obligations and all Liens granted as security for the Obligations continue in full force and effect, and (c) confirms and ratifies its obligations under each of the Loan Documents executed by it. Capitalized terms used herein without definition shall have the meanings given to such terms in the Amendment to which this Consent is attached or in the Credit Agreement referred to therein, as applicable.
     IN WITNESS WHEREOF, each of the undersigned has executed and delivered this Consent of Guarantors as of the 22nd day of March 2006.
[Signature pages follow]

 


 

         
  OMNI WASTE OF OSCEOLA COUNTY LLC
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Manager   
 
  CACTUS WASTE SYSTEMS, LLC
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Manager   
 
  WASTE SERVICES OF ARIZONA, INC.
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  WASTE SERVICES OF FLORIDA, INC.
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  JACKSONVILLE FLORIDA LANDFILL, INC.
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  JONES ROAD LANDFILL AND RECYCLING, LTD.,

by Jacksonville Florida Landfill, Inc., its
General Partner
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
[Signature Page]

 


 

         
  FORT BEND REGIONAL LANDFILL LP
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  RUFFINO HILLS TRANSFER STATION LP
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  WSI WASTE SERVICES OF TEXAS LP
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  SANFORD RECYCLING AND TRANSFER, INC.
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  WASTE SERVICES OF ALABAMA, INC.
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  WASTE SERVICES LIMITED PARTNER, LLC
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Manager   
 
[Signature Page]

 


 

         
  WS GENERAL PARTNER, LLC,
by Waste Services, Inc., its Sole Member
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Executive Vice President, General Counsel and Secretary   
 
  RAM-PAK COMPACTION SYSTEMS LTD.
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  6045341 CANADA INC.
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  CAPITAL ENVIRONMENTAL HOLDINGS COMPANY
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
[Signature Page]

 

EX-20.2 3 g00714exv20w2.htm SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 6th Amendment to Amended and Restated Credit Agree
 

EXHIBIT 20.2
SIXTH AMENDMENT TO
AMENDED AND RESTATED CREDIT AGREEMENT
Dated as of March 30, 2006
     This SIXTH AMENDMENT TO THE AMENDED AND RESTATED CREDIT AGREEMENT (together with all Exhibits, Schedules and Annexes hereto, this “Amendment”) is among WASTE SERVICES (CA) INC., an Ontario corporation formerly known as CAPITAL ENVIRONMENTAL RESOURCE INC./RESSOURCES ENVIRONNEMENTALES CAPITAL INC. (“WSCI”), WASTE SERVICES, INC., a Delaware corporation (the “Borrower”), and LEHMAN COMMERCIAL PAPER INC., as administrative agent for the Lenders (in such capacity, the “Administrative Agent”).
PRELIMINARY STATEMENTS:
     A. The Borrower, WSCI, the Lenders, the Administrative Agent, Lehman Brothers Inc., as Arranger, CIBC World Markets Corp., as Syndication Agent, Bank of America, N.A., as Documentation Agent, and Canadian Imperial Bank of Commerce, as Canadian Agent, entered into an Amended and Restated Credit Agreement, dated as of April 30, 2004 (as amended, restated, modified or supplemented prior to the date hereof, and together with all Annexes, Exhibits and Schedules thereto, the “Credit Agreement”; capitalized terms used and not otherwise defined herein shall have the meanings ascribed to such terms in the Credit Agreement).
     B. The Borrower and WSCI have advised the Administrative Agent and the Lenders that they intend to make certain Permitted Acquisitions, and that they intend to fund the purchase price of such Permitted Acquisitions with borrowings of Incremental Term Loans.
     C. Pursuant to the Credit Agreement, the Incremental Term Loan Commitment Termination Date is March 31, 2006 (or, if earlier the date on which the Incremental Term Loan Commitments are terminated in full pursuant to Section 2.10 of the Credit Agreement); provided, however, that the Borrower and WSCI have informed the Administrative Agent and the Lenders that the closing dates for such Permitted Acquisitions will not have occurred by such date.
     D. In connection with the foregoing, the Borrower and WSCI have requested that the Administrative Agent and the Incremental Term Loan Lenders amend the Credit Agreement to extend the Incremental Term Loan Commitment Termination Date to May 31, 2006, as more fully set forth herein, and the Administrative Agent and the Incremental Term Loan Lenders are, on the terms and conditions stated below, willing to grant such request.
     NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1.   Amendment. Upon the terms and subject to the conditions set forth herein and in reliance on the representations and warranties of the Loan Parties set forth herein, the Credit Agreement is hereby amended as follows:

 


 

          (a) The definition of “Incremental Term Loan Commitment Termination Date” contained in Section 1.1 of the Credit Agreement is hereby amended to delete the date “March 31, 2006” and insert the date “May 31, 2006” in lieu thereof
          (b) Section 2.9(b) of the Credit Agreement is hereby amended to delete the phrase “March 31, 2006, or, if earlier, on the Incremental Term Loan Commitment Termination Date.” and insert the phrase “each of March 31, 2006 and May 31, 2006 (or, if earlier, the Incremental Term Loan Commitment Termination Date).”
2.   Conditions to Effectiveness. The effectiveness of the amendments contained in Section 1 hereof is conditioned upon satisfaction of the following conditions precedent (the date on which all such conditions have been satisfied being referred to herein as the “Amendment Effective Date”):
          (a) the Administrative Agent shall have (i) executed this Amendment and shall have received written authorization to execute this Amendment from each of the Incremental Term Loan Lenders on behalf of such Lenders, (ii) received counterparts of this Amendment signed by each of WSCI, the Borrower and the Administrative Agent, and (iii) received counterparts of the consent of the Guarantors attached hereto as Annex 1 (the “Consent”) executed by each of the Guarantors;
          (b) each of the representations and warranties in Section 3 below shall be true and correct in all material respects on and as of the Amendment Effective Date;
          (c) the Administrative Agent shall have received payment in immediately available funds of all expenses incurred by the Administrative Agent (including, without limitation, legal fees) reimbursable under the Credit Agreement and for which invoices have been presented; and
          (d) the Administrative Agent shall have received such other documents, instruments, certificates, opinions and approvals as it may reasonably request.
3.   Representations and Warranties. Each of WSCI and the Borrower represents and warrants jointly and severally to the Administrative Agent and the Lenders as follows:
          (a) Authority. Each of WSCI and the Borrower has the requisite corporate or other organizational power and authority to execute and deliver this Amendment and to perform its obligations hereunder and under the Credit Agreement (as amended hereby). Each of the Guarantors has the requisite corporate or other organizational power and authority to execute and deliver the Consent. The execution, delivery and performance by each of WSCI and the Borrower of this Amendment and by the Guarantors of the Consent, and the performance by each of WSCI, the Borrower and each other Loan Party of the Credit Agreement (as amended hereby) and each other Loan Document to which it is a party, in each case, have been authorized by all necessary corporate or other organizational action of such Person, and no other corporate or other organizational proceedings on the part of each such Person is necessary to consummate such transactions.

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          (b) Enforceability. This Amendment has been duly executed and delivered on behalf of each of WSCI and the Borrower. The Consent has been duly executed and delivered by each of the Guarantors. Each of this Amendment, the Consent and, after giving effect to this Amendment, the Credit Agreement (as amended hereby) and the other Loan Documents, (i) is the legal, valid and binding obligation of each Loan Party party hereto and thereto, enforceable against such Loan Party in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law) and (ii) is in full force and effect. Neither the execution, delivery or performance of this Amendment or of the Consent or the performance of the Credit Agreement (as amended hereby), nor the performance of the transactions contemplated hereby or thereby, will adversely affect the validity, perfection or priority of the Administrative Agent’s Lien on any of the Collateral or its ability to realize thereon. This Amendment is effective to amend the Credit Agreement as provided herein.
          (c) Representations and Warranties. After giving effect to this Amendment, the representations and warranties contained in the Credit Agreement and the other Loan Documents (other than any such representations and warranties that, by their terms, are specifically made as of a date other than the date hereof) are true and correct in all material respects on and as of the date hereof as though made on and as of the date hereof.
          (d) No Conflicts. Neither the execution and delivery of this Amendment or the Consent, nor the consummation of the transactions contemplated hereby and thereby, nor the performance of and compliance with the terms and provisions hereof or of the Credit Agreement (as amended hereby) by any Loan Party will, at the time of such performance, (a) violate or conflict with any provision of its articles or certificate of incorporation or bylaws or other organizational or governing documents of such Person, (b) violate, contravene or materially conflict with any Requirement of Law or Contractual Obligation (including, without limitation, Regulation U), except for any violation, contravention or conflict which could not reasonably be expected to have a Material Adverse Effect or (c) result in or require the creation of any Lien (other than those permitted by the Loan Documents) upon or with respect to its properties. No consent or authorization of, filing with, notice to or other act by or in respect of, any Governmental Authority or any other Person is required in connection with the transactions contemplated hereby.
          (e) No Default. Both before and after giving effect to this Amendment, no event has occurred and is continuing that constitutes a Default or Event of Default.
4.   Reference to and Effect on Credit Agreement.
          (a) Upon and after the effectiveness of this Amendment, 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 modified hereby. This Amendment is a Loan Document.

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          (b) Except as specifically modified above, the Credit Agreement and the other Loan Documents are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed. Without limiting the generality of the foregoing, the Security Documents and all of the Collateral described therein do and shall continue to secure the payment of all Obligations under and as defined therein, in each case as modified hereby.
          (c) The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Secured Party under any of the Loan Documents, nor, except as expressly provided herein, constitute a waiver or amendment of any provision of any of the Loan Documents.
5.   Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment by facsimile shall be effective as delivery of a manually executed counterpart of this Amendment.
6.   Severability. 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.
7.   Governing Law. This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York.
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     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective officers as of the day and year first above written.
         
  WASTE SERVICES, INC., as Borrower
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Executive Vice President, General Counsel and Secretary   
 
  WASTE SERVICES (CA) INC.
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  LEHMAN COMMERCIAL PAPER INC., as Administrative Agent
 
 
  By:   /s/ Frank P. Turner    
    Name:   Frank P. Turner   
    Title:   Vice President   

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Annex 1
CONSENT OF GUARANTORS
Each of the undersigned is a Guarantor of the Obligations of the Borrower and/or of WSCI under the Credit Agreement and hereby (a) consents to the foregoing Amendment, (b) acknowledges that notwithstanding the execution and delivery of the foregoing Amendment, the obligations of each of the undersigned Guarantors are not impaired or affected and all guaranties given to the holders of Obligations and all Liens granted as security for the Obligations continue in full force and effect, and (c) confirms and ratifies its obligations under each of the Loan Documents executed by it. Capitalized terms used herein without definition shall have the meanings given to such terms in the Amendment to which this Consent is attached or in the Credit Agreement referred to therein, as applicable.
     IN WITNESS WHEREOF, each of the undersigned has executed and delivered this Consent of Guarantors as of the 30th day of March 2006.
[Signature pages follow]

 


 

         
  OMNI WASTE OF OSCEOLA COUNTY LLC
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Manager   
 
  CACTUS WASTE SYSTEMS, LLC
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Manager   
 
  WASTE SERVICES OF ARIZONA, INC.
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  WASTE SERVICES OF FLORIDA, INC.
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  JACKSONVILLE FLORIDA LANDFILL, INC.
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
[Signature Page]

 


 

         
  JONES ROAD LANDFILL AND RECYCLING, LTD.,
by Jacksonville Florida Landfill, Inc., its
General Partner
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  FORT BEND REGIONAL LANDFILL LP
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  RUFFINO HILLS TRANSFER STATION LP
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  WASTE SERVICES OF ALABAMA, INC.
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  WASTE SERVICES LIMITED PARTNER, LLC
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Manager   
 
[Signature Page]

 


 

         
  WS GENERAL PARTNER, LLC,
by Waste Services, Inc., its Sole Member
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Executive Vice President, General Counsel and Secretary   
 
  RAM-PAK COMPACTION SYSTEMS LTD.
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  6045341 CANADA INC.
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  SANFORD RECYCLING AND TRANSFER, INC.
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
  CAPITAL ENVIRONMENTAL HOLDINGS COMPANY
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
[Signature Page]

 


 

         
  WSI WASTE SERVICES OF TEXAS LP
 
 
  By:   /s/ Ivan R. Cairns    
    Name:   Ivan R. Cairns   
    Title:   Vice President and Secretary   
 
[Signature Page]

 

EX-20.3 4 g00714exv20w3.htm AGREEMENT BETWEEN WASTE SERVICES AND KELSO INVESTMENT Agree. between Waste Services and Kelso Investment
 

EXHIBIT 20.3
     AGREEMENT effective as of the 30th day of March, 2006 among Waste Services, Inc., a Delaware corporation (“WSI”) and Kelso Investment Associates VI, L.P., a Delaware limited partnership, and KEP VI, LLC, a Delaware limited liability company, (collectively, the “Kelso Parties”).
     WHEREAS, the Kelso Parties are the holders of all of the issued and outstanding shares of Series A Preferred Stock of WSI;
     AND WHEREAS, WSI has, pursuant to the Fourth Amendment to Amended and Restated Credit Agreement dated as of December 28, 2005 (the “Fourth Amendment”), agreed to incur additional indebtedness in an aggregate principal amount of up to $50 million under the incremental term loan facility pursuant to Section 10.1(b) of the Amended and Restated Credit Agreement, dated as of April 30, 2004, as amended;
     AND WHEREAS, the Lenders under the incremental term loan facility have, pursuant to the Sixth Amendment to Amended and Restated Credit Agreement dated as of March 30, 2006 (the “Sixth Amendment”), agreed to extend the Incremental Term Loan Commitment Termination Date to May 31, 2006;
     AND WHEREAS, the Kelso Parties have agreed that the limitations and restrictions of the of the Amended Certificate of Designations of the Series A Preferred Stock of WSI shall be amended as provided herein.
     NOW, THEREFORE, it is agreed as follows:
  1.   Amendment to Section 5(c). The number $320 million in the parenthetical in the last sentence of Section 5(c) is hereby amended to read “$320 million plus the amount of additional indebtedness incurred under the incremental term loan facility pursuant to the Fourth Amendment and the Sixth Amendment”.
 
  2.   Amendments to Section 11.
 
      The definition of Amended and Restated Credit Agreement is hereby amended to provide that the aggregate term and revolving borrowings is $160 million plus the amount of additional indebtedness incurred under the incremental term loan facility pursuant to the Fourth Amendment and the Sixth Amendment.
 
      The definition of Committed Amount is hereby amended by inserting after the number $320 million the following: “plus the amount of additional indebtedness incurred under the incremental term loan facility pursuant to the Fourth Amendment and the Sixth Amendment”.
 
  3.   Certificate of Designations For the avoidance of doubt, the parties hereto hereby acknowledge and agree that the amendments to the Certificate of

 


 

      Designations contained in this agreement shall be deemed to be amendments to the Certificate of Designations.
  4.   Full Force and Effect. Except as provided herein, the Certificate of Designations shall continue in full force and effect in accordance with the provisions thereof.
     IN WITNESS WHEREOF, the parties hereto have caused this agreement to be executed as of the day and year first above written.
         
  WASTE SERVICES, INC.
 
 
  By:   /s/ Ivan R. Cairns    
    Ivan R. Cairns   
    Executive Vice-President and General Counsel   
 
  KELSO INVESTMENT ASSOCIATES VI, L.P.
 
 
  By:   /s/ J. Connors    
 
 
  Kelso GP VI, LLC, Its general partner   
 
     
  By:   /s/ J. Connors    
    Managing Member   
       
 
  KEP VI, LLC
 
 
  By:   /s/ J. Connors    
    Managing Member   
       
 

 

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